Federal Register / Vol. 80, No. 66 / Tuesday, April 7, 2015 / Notices 18667 

6 15 U.S.C. 78f(b)(8). 

7 15 U.S.C. 78s(b)(3)(A). 

8 17 CFR 240.19b-4(f)(6). 

9 17 CFR 200.30–3(a)(12). 

1See 15 U.S.C. 78s(b)(1). 

2See 17 CFR 240.19b–4. 

3A Registered Options Trader or ROT is a regular 

member or a foreign currency options participant of 

the Exchange located on the trading floor who has 

received permission from the Exchange to trade in 

options for his own account. See Exchange Rule 

1014(b)(i). 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange believes the proposal is 

consistent with Section 6(b)(8) of the 

Act 6 in that it does not impose any 

burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. The 

proposed rule change is not designed to 

address any aspect of competition, but 

would provide authority for the 

Exchange to directly share risk settings 

with Clearing Members regarding the 

Members with whom the Clearing 

Member has executed a letter of 

guarantee so the Clearing Member can 

better monitor and manage the potential 

risks assumed by the Members, thereby 

providing them with greater control and 

flexibility over setting their own risk 

tolerance and exposure. The proposed 

rule change does not pose an undue 

burden on non-Clearing Members 

because, unlike Clearing Members, nonClearing Members do not guarantee the 

execution of the Member transactions 

on the Exchange. The proposed rule 

change is structured to offer the same 

enhancement to all Clearing Members, 

regardless of size, and would not 

impose a competitive burden on any 

participant. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

The Exchange has not solicited, and 

does not intend to solicit, comments on 

this proposed rule change. The 

Exchange has not received any 

unsolicited written comments from 

members or other interested parties. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The Exchange believes that the 

foregoing proposed rule change may 

take effect upon filing with the 

Commission pursuant to 

Section19(b)(3)(A) 7 of the Act and Rule 

19b–4(f)(6) thereunder 8 because the 

foregoing proposed rule change does not 

(i) significantly affect the protection of 

investors or the public interest, (ii) 

impose any significant burden on 

competition, and (iii) become operative 

for 30 days after its filing date, or such 

shorter time as the Commission may 

designate. 

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission summarily may 

temporarily suspend such rule change if 

it appears to the Commission that such 

action is: (i) Necessary or appropriate in 

the public interest; (ii) for the protection 

of investors; or (iii) otherwise in 

furtherance of the purposes of the Act. 

If the Commission takes such action, the 

Commission shall institute proceedings 

to determine whether the proposed rule 

should be approved or disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s Internet 

comment form (http://www.sec.gov/

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

ISEGemini 2015–08 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 

Commission, 100 F Street NE., 

Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–ISEGemini–2015–08. This 

file number should be included on the 

subject line if email is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

Internet Web site (http://www.sec.gov/

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for Web site viewing and 

printing in the Commission’s Public 

Reference Room, 100 F Street NE., 

Washington, DC 20549, on official 

business days between the hours of 

10:00 a.m. and 3:00 p.m. Copies of such 

filing also will be available for 

inspection and copying at the principal 

offices of the Exchange. All comments 

received will be posted without change; 

the Commission does not edit personal 

identifying information from 

submissions. You should submit only 

information that you wish to make 

available publicly. All submissions 

should refer to File Number SR– 

ISEGemini–2015–08, and should be 

submitted on or before April 28, 2015. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Brent J. Fields, 

Secretary. 

[FR Doc. 2015–07849 Filed 4–6–15; 8:45 am] 

BILLING CODE CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–74627; File No. SR–Phlx– 

2015–30] 

Self-Regulatory Organizations; 

NASDAQ OMX PHLX LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Amend 

Section (a)(iv) of Rule 703, Financial 

Responsibility and Reporting 

April 1, 2015. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’),1 and Rule 19b–4 thereunder,2

notice is hereby given that on March 23, 

2015, NASDAQ OMX PHLX LLC 

(‘‘Phlx’’ or ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(‘‘SEC’’ or ‘‘Commission’’) the proposed 

rule change as described in Items I, II, 

and III, below, which Items have been 

substantially prepared by the Exchange. 

The Commission is publishing this 

notice to solicit comments on the 

proposed rule change from interested 

persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to amend 

section (a)(iv) of Rule 703, Financial 

Responsibility and Reporting, as 

described below.3

The text of the proposed rule change 

is below. Proposed new language is in 

italics; proposed deletions are in 

brackets. 

* * * * * 

Rule 703. Financial Responsibility and 

Reporting 

(a) Financial Responsibility Standards.— 

Each member organization effecting 

securities transactions shall comply with 

the capital requirements set forth below: 

(i) each member organization subject to SEC 

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18668 Federal Register / Vol. 80, No. 66 / Tuesday, April 7, 2015 / Notices 

4Chapter VII, Section 8(c) of the BX Rules 

provides in relevant part that ‘‘[a] Letter of 

Guarantee filed with BX Regulation shall remain in 

effect until a written notice of revocation has been 

filed with BX Regulation by the Guarantor Clearing 

Participant.’’ Chapter VII, Section 8(c) of the NOM 

rules is nearly identical, stating that ‘‘[a] Letter of 

Guarantee filed with Nasdaq Regulation shall 

remain in effect until a written notice of revocation 

has been filed with Nasdaq Regulation by the 

Guarantor Clearing Participant.’’ The BX and NOM 

rules also state, like the Phlx proposal, that a 

revocation shall in no way relieve the issuer of 

responsibility for transactions guaranteed prior to 

the effective date of such revocation. 

5See 15 U.S.C. 78f(b). 

6See 15 U.S.C. 78f(b)(5). 

rule 15c3–1 shall at all times comply 

with said rule and the notification 

provisions of SEC rule 17a–11; 

(ii) each member organization exempt from 

SEC rule 15c3–1 shall, at the time of its 

admission to the Exchange, have a 

minimum of $25,000 in net liquid assets; 

(iii) each member organization or foreign 

currency options participant 

organization exempt from SEC Rule 

15c3–1 and whose principal business is 

as a registered options trader on the 

Exchange, shall, subject to subparagraph 

(iv) below, at all times maintain a 

minimum of $25,000 in net liquid assets; 

(iv) each member organization referred to in 

paragraph (iii) above shall at all times 

maintain positive net liquid assets and, 

in its clearing account(s), positive equity, 

provided that said organization has filed 

with the Exchange a letter of guarantee 

issued on its behalf by a clearing member 

organization of this Exchange which is 

also a clearing member of the Options 

Clearing Corporation. In said letter the 

clearing member organization guarantees 

the financial responsibilities of said 

organization for all transactions and 

balances carried and cleared in the 

clearing account(s). [Such guarantee 

shall remain in effect until the Exchange 

receives from the clearing member 

organization written notice of its intent 

to cancel its guarantee. Written notice of 

such cancellation received by the 

Exchange at least one-half hour before 

the normal opening of trading shall take 

effect on the day of receipt; written 

notice received less than one-half hour 

before the opening of trading shall take 

effect on the opening of the business day 

following Exchange receipt.] Such letter 

of guarantee filed with the Exchange 

shall remain in effect until a written 

notice of revocation has been filed with 

the Exchange by the clearing member 

organization. A revocation shall in no 

way relieve a clearing member 

organization of responsibility for 

transactions guaranteed prior to the 

effective date of such revocation. 

(v)–(viii) No change. 

(b)–(f) No change. 

* * * Commentary No change. 

* * * * * 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

Exchange included statements 

concerning the purpose of and basis for 

the proposed rule change and discussed 

any comments it received on the 

proposed rule change. The text of these 

statements may be examined at the 

places specified in Item IV below. The 

Exchange has prepared summaries, set 

forth in sections II.A., II.B., and II.C. 

below, of the most significant aspects of 

such statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The purpose of the proposed rule 

change is to modernize the Exchange’s 

rules regarding the termination of letters 

of guarantee provided by clearing 

member organizations which guarantee 

the financial responsibilities of nonclearing member organizations. The 

proposal would permit clearing member 

organizations to terminate letters of 

guarantee which guarantee the financial 

responsibilities of non-clearing member 

organizations on an intraday basis. The 

amendment would conform this aspect 

of Rule 703 to the Letter of Guarantee 

termination provisions of the NASDAQ 

Options Market (‘‘NOM’’) and NASDAQ 

OMX BX, Inc. (‘‘BX’’) rules.4

Currently, Rule 703(a)(iv) provides 

that a clearing member guarantee 

remains in effect until the Exchange 

receives from the clearing member 

organization written notice of its intent 

to cancel its guarantee. It further 

provides that written notice of such 

cancellation received by the Exchange at 

least one-half hour before the normal 

opening of trading shall take effect on 

the day of receipt, except that written 

notice received less than one-half hour 

before the opening of trading shall take 

effect only on the opening of the 

business day following Exchange 

receipt. Consequently, a guaranteeing 

clearing member organization 

concerned about its guaranteed member 

organization’s credit is unable to 

terminate its guarantee on an intraday 

basis. 

The proposed amendment to Rule 

703(a)(iv) would enable the 

guaranteeing clearing member 

organization to terminate the guarantee 

during the trading day, avoiding 

financial responsibility for trades that 

would otherwise have occurred during 

the rest of the day for which the 

guaranteeing member would, under the 

current rule, remain financially 

responsible. As stated above, the change 

would conform the Phlx rule to the 

NOM and BX rules which permit 

revocation of a Letter of Guarantee to 

take effect upon filing of a written 

notice of revocation, which permits 

termination to become effective without 

waiting until the next trading day. The 

Exchange will terminate the registered 

options trader’s access to trading as 

soon as it processes the withdrawn 

guarantee. Clearing member 

organizations will therefore be able to 

react more quickly under the amended 

rule to any potential rapid deterioration 

in the guaranteed entity’s condition. 

2. Statutory Basis 

The Exchange believes that its 

proposal is consistent with Section 6(b) 

of the Act 5 in general, and furthers the 

objectives of Section 6(b)(5) of the Act 6

in particular, in that it is designed to 

promote just and equitable principles of 

trade, to remove impediments to and 

perfect the mechanism of a free and 

open market and a national market 

system, and, in general to protect 

investors and the public interest, by 

permitting clearing member 

organizations to revoke letters of 

guarantee effective upon filing written 

notice of revocation with the Exchange. 

The proposal should encourage 

additional clearing member 

organizations to consider issuing letters 

of guarantee, knowing they may revoke 

the guarantee more quickly upon an 

adverse change in the guaranteed 

entity’s circumstances than is currently 

permitted under Rule 703(a)(iv). 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will impose 

any burden on competition not 

necessary or appropriate in furtherance 

of the purposes of the Act because the 

proposed change would apply to all 

issuers of clearing member guarantees 

equally and because it would also apply 

equally to all guaranteed entities whose 

guarantees are revoked under Rule 

703(a)(iv). 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were either 

solicited or received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing proposed rule 

change does not: (i) Significantly affect 

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Federal Register / Vol. 80, No. 66 / Tuesday, April 7, 2015 / Notices 18669 

7See 15 U.S.C. 78s(b)(3)(a)(ii). 

8See 17 CFR 240.19b–4(f)(6). In addition, Rule 

19b–4(f)(6) requires a self-regulatory organization to 

give the Commission written notice of its intent to 

file the proposed rule change at least five business 

days prior to the date of filing of the proposed rule 

change, or such shorter time as designated by the 

Commission. The Exchange has satisfied this 

requirement. 9See 17 CFR 200.30–3(a)(12). 

the protection of investors or the public 

interest; (ii) impose any significant 

burden on competition; and (iii) become 

operative for 30 days from the date on 

which it was filed, or such shorter time 

as the Commission may designate, it has 

become effective pursuant to Section 

19(b)(3)(A)(ii) of the Act 7 and 

subparagraph (f)(6) of Rule 19b–4 

thereunder.8

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission summarily may 

temporarily suspend such rule change if 

it appears to the Commission that such 

action is: (i) Necessary or appropriate in 

the public interest; (ii) for the protection 

of investors; or (iii) otherwise in 

furtherance of the purposes of the Act. 

If the Commission takes such action, the 

Commission shall institute proceedings 

to determine whether the proposed rule 

should be approved or disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s Internet 

comment form (http://www.sec.gov/

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

Phlx–2015–30 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Brent J. Fields, Secretary, Securities 

and Exchange Commission, 100 F Street 

NE., Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–Phlx–2015–30. This file 

number should be included on the 

subject line if email is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

Internet Web site (http://www.sec.gov/

rules/sro.shtml). 

Copies of the submission, all 

subsequent amendments, all written 

statements with respect to the proposed 

rule change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for Web site viewing and 

printing in the Commission’s Public 

Reference Room, 100 F Street NE., 

Washington, DC 20549, on official 

business days between the hours of 

10:00 a.m. and 3:00 p.m. Copies of the 

filing also will be available for 

inspection and copying at the principal 

office of the Exchange. All comments 

received will be posted without change; 

the Commission does not edit personal 

identifying information from 

submissions. You should submit only 

information that you wish to make 

available publicly. 

All submissions should refer to File 

Number SR–Phlx–2015–30 and should 

be submitted on or before April 28, 

2015. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Brent J. Fields, 

Secretary. 

[FR Doc. 2015–07882 Filed 4–6–15; 8:45 am] 

BILLING CODE CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

[Disaster Declaration #14241 and #14242] 

Hawaii Disaster Number HI–00035 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Amendment 1. 

SUMMARY: This is an amendment of the 

Presidential declaration of a major 

disaster for Public Assistance Only for 

the State of Hawaii (FEMA–4201–DR), 

dated 03/04/2015. 

Incident: Pu u O o Volcanic Eruption 

and Lava Flow. 

Incident Period: 09/04/2014 through 

03/25/2015. 

Effective Date: 03/25/2015. 

Physical Loan Application Deadline 

Date: 05/04/2015. 

Economic Injury (EIDL) Loan 

Application Deadline Date: 12/04/2015. 

ADDRESSES: Submit completed loan 

applications to: U.S. Small Business 

Administration, Processing and 

Disbursement Center, 14925 Kingsport 

Road, Fort Worth, TX 76155. 

FOR FURTHER INFORMATION CONTACT: A 

Escobar, Office of Disaster Assistance, 

U.S. Small Business Administration, 

409 3rd Street SW., Suite 6050, 

Washington, DC 20416. 

SUPPLEMENTARY INFORMATION: The notice 

of the President’s major disaster 

declaration for Private Non-Profit 

organizations in the State of Hawaii, 

dated 03/04/2015, is hereby amended to 

establish the incident period for this 

disaster as beginning 09/04/2014 and 

continuing through 03/25/2015. All 

other information in the original 

declaration remains unchanged. 

(Catalog of Federal Domestic Assistance 

Numbers 59002 and 59008) 

James E. Rivera, 

Associate Administrator for Disaster 

Assistance. 

[FR Doc. 2015–07890 Filed 4–6–15; 8:45 am] 

BILLING CODE CODE 8025–01–P 

SOCIAL SECURITY ADMINISTRATION 

[Docket No: SSA–2015–0015] 

Agency Information Collection 

Activities: Proposed Request and 

Comment Request 

The Social Security Administration 

(SSA) publishes a list of information 

collection packages requiring clearance 

by the Office of Management and 

Budget (OMB) in compliance with 

Public Law 104–13, the Paperwork 

Reduction Act of 1995, effective October 

1, 1995. This notice includes revisions 

of OMB-approved information 

collections. 

SSA is soliciting comments on the 

accuracy of the agency’s burden 

estimate; the need for the information; 

its practical utility; ways to enhance its 

quality, utility, and clarity; and ways to 

minimize burden on respondents, 

including the use of automated 

collection techniques or other forms of 

information technology. Mail, email, or 

fax your comments and 

recommendations on the information 

collection(s) to the OMB Desk Officer 

and SSA Reports Clearance Officer at 

the following addresses or fax numbers. 

(OMB) 

Office of Management and Budget, Attn: 

Desk Officer for SSA, Fax: 202–395– 

6974, Email address: OIRA_

Submission@omb.eop.gov 

(SSA), Social Security Administration, 

OLCA, Attn: Reports Clearance 

Director, 3100 West High Rise, 6401 

Security Blvd., Baltimore, MD 21235, 

Fax: 410–966–2830, Email address: 

OR.Reports.Clearance@ssa.gov. 

Or you may submit your comments 

online through www.regulations.gov, 

referencing Docket ID Number [SSA– 

2015–0015]. 

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