8590 Federal Register / Vol. 74, No. 36 / Wednesday, February 25, 2009 / Notices 

1Notice of the United States Postal Service of 

Classification Change, February 13, 2009; United 

States Postal Service Notice of Errata to Notice of 

Classification Change, February 18, 2009 (together 

referred to as the Notice). 

2An analogy can be found in the filing of a shell 

classification for a competitive international 

negotiated service agreement product. Adding an 

additional specific agreement to the shell 

classification triggers the requirements of 39 CFR 

part 3015. 

3The cost and revenue impact may turn out to be 

minimal is this instance. However, it would be 

unwise to establish procedural precedent for filings 

of this nature based on conjecture. 

Filing Online system at http:// 

www.prc.gov. 

FOR FURTHER INFORMATION CONTACT: 

Stephen L. Sharfman, General Counsel, 

202–789–6820 and 

stephen.sharfman@prc.gov. 

SUPPLEMENTARY INFORMATION: On 

February 13, 2009, the Postal Service 

filed a notice of classification change 

which affects the availability of Priority 

Mail International to three destination 

countries (Ascension Island, Falkland 

Islands, and Democratic People’s 

Republic of (North) Korea).1 Priority 

Mail International is a competitive 

product of general applicability. 

The Notice was filed pursuant to 39 

CFR 3020.90 and 3020.91 governing 

requests initiated by the Postal Service 

to change the Mail Classification 

Schedule. These rules were established 

to provide a streamlined approach to 

allow minor corrections, and to keep the 

Mail Classification Schedule up to date 

for changes that do not rise to the level 

of invoking other statutory requirements 

or Commission rules. Under these rules, 

review by the Commission is limited. 

See 39 CFR 3090.93. 

In this light, the Postal Service’s filing 

could be interpreted as a minor revision 

to the Mail Classification Schedule, 

which merely extends the availability of 

an existing service at established rates to 

three additional countries. Because no 

supporting data are provided, it could 

also be inferred that the changes have 

no cost or revenue impact on the 

underlying product. 

On the other hand, the classification 

changes could be interpreted as 

establishing new rates for a product to 

three countries where it previously was 

not offered. This interpretation views 

the changes as more than a simple 

correction to the Mail Classification 

Schedule, but rather as a change in rates 

triggering the filing requirements of 39 

CFR 3015.2 In this instance, the 

Commission finds this interpretation to 

be more appropriate.3

Since this is a case of first impression, 

the Postal Service will not be required 

to re-file its Notice under a ‘‘CP’’ 

designation. However, all future 

competitive product classification 

changes of this nature must be filed as 

CP dockets pursuant to 39 CFR part 

3015. 

With respect to the instant filing, the 

Postal Service is required to provide 

supplemental information 

demonstrating that the underlying 

product continues to meet the 

requirements of 39 U.S.C. 3633. 

Furthermore, the Postal Service shall 

indicate which of the Priority Mail 

International items (flat rate envelope, 

flat rate boxes, or parcels) will be 

available in each of the three identified 

countries. This information shall be 

filed by February 24, 2009. 

The Commission appoints Paul L. 

Harrington to serve as Public 

Representative in this docket. 

Interested persons may submit 

comments on whether the Postal 

Service’s filing in the captioned docket 

is consistent with the policies of 39 

U.S.C. 3632, 3633, or 3642 and 39 CFR 

part 3015. Comments are due no later 

than February 27, 2009. 

It is Ordered: 

1. The Commission establishes Docket 

No. MC2009–16 to consider the Postal 

Service’s Notice concerning expanding 

the availability of Priority Mail 

International to three additional 

destination countries. 

2. The Postal Service shall file the 

supplemental information identified in 

the body of this Order by February 24, 

2009. 

3. Pursuant to 39 U.S.C. 505, Paul L. 

Harrington is appointed to serve as 

officer of the Commission (Public 

Representative) to represent the 

interests of the general public in these 

proceedings. 

4. Comments by interested persons in 

this proceeding are due no later than 

February 27, 2009. 

5. The Secretary shall arrange for 

publication of this order in the Federal 

Register. 

By the Commission. 

Steven W. Williams, 

Secretary. 

[FR Doc. E9–4055 Filed 2–24–09; 8:45 am] 

BILLING CODE 7710–FW–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Submission for OMB Review; 

Comment Request 

Upon Written Request, Copies Available 

From: U.S. Securities and Exchange 

Commission, Office of Investor 

Education and Advocacy, 

Washington, DC 20549–0213. 

Extension: 

Regulation AC; OMB Control No. 3235– 

0575; SEC File No. 270–517. 

Notice is hereby given that pursuant 

to the Paperwork Reduction Act of 1995 

(44 U.S.C. 3501 et seq.), the Securities 

and Exchange Commission 

(‘‘Commission’’) has submitted to the 

Office of Management and Budget 

(‘‘OMB’’) a request for approval of 

extension of the existing collection of 

information provided for in the 

following rule: Regulation Analyst 

Certification (AC) (17 CFR 242.500– 

505). 

Regulation AC requires that research 

reports published, circulated, or 

provided by a broker or dealer or 

covered person contain a statement 

attesting that the views expressed in 

each research report accurately reflect 

the analyst’s personal views and 

whether or not the research analyst 

received or will receive any 

compensation in connection with the 

views or recommendations expressed in 

the research report. Regulation AC also 

requires broker-dealers to, on a quarterly 

basis, make, keep, and maintain records 

of research analyst statements regarding 

whether the views expressed in public 

appearances accurately reflected the 

analyst’s personal views, and whether 

any part of the analyst’s compensation 

is related to the specific 

recommendations or views expressed in 

the public appearance. Regulation AC 

also requires that research prepared by 

foreign persons be presented to U.S. 

persons pursuant to Securities Exchange 

Act Rule 15a–6 and that broker-dealers 

notify associated persons if they would 

be covered by the regulation. Regulation 

AC excludes the news media from its 

coverage. 

The collections of information under 

Regulation AC are necessary to provide 

investors with information with which 

to determine the value of the research 

available to them. It is important for an 

investor to know whether an analyst 

may be biased with respect to securities 

or issuers that are the subject of a 

research report. Further, in evaluating a 

research report, it is reasonable for an 

investor to want to know about an 

analyst’s compensation. Without the 

information collection, the purposes of 

Regulation AC could not be met. 

The Commission estimates that 

Regulation AC imposes an aggregate 

annual time burden of approximately 

28,538 hours on 5,186 respondents, or 

approximately 5.5 hours per 

respondent. The Commission estimates 

that the total annual internal cost of the 

28,538 hours is approximately 

$10,525,642.00, or approximately 

$2,030.00 per respondent, annually. 


pwalker on PROD1PC71 with NOTICES
Federal Register / Vol. 74, No. 36 / Wednesday, February 25, 2009 / Notices 8591 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 59060 

(December 5, 2008), 73 FR 76075 (‘‘Notice’’). 

4 In Amendment No. 1, the Exchange: (1) Further 

amended Rules 24A.7, 24A.8, 24B.7 and 24B.8 to 

clarify the applicable exercise limits for FLEX 

Options that expire on a third Friday-of-the-month 

expiration day (‘‘Expiration Friday’’); (2) made a 

typographical correction to the rule text proposed 

to be added to Rule 24A.7. 

5 In Amendment No. 2, the Exchange (1) further 

amended Rules 24A.4 and 24B.4 to impose 

additional restrictions on FLEX Options that expire 

on any business day that falls on, or within two 

business days of, an Expiration Friday by specifying 

that they may only have an a.m. exercise settlement 

value: (2) made a technical correction to the 

reference to the Exchange Rules contained in 

footnote 6 of the original proposed rule change. 

6FLEX Options (FLEX Index Options and FLEX 

Equity Options) provide investors with the ability 

to customize basic option features including size, 

expiration date, exercise style, and certain exercise 

prices. FLEX Index Options and Flex Equity 

Options are index options and options on specified 

equity securities, respectively, that are subject to 

the FLEX rules in Chapters XXIVA or XXIVB of the 

CBOE Rules. FLEX Index Options Series may be 

approved and open for trading on any index that 

has been approved for Non-FLEX Options trading 

or for warrant trading on the Exchange. FLEX 

Equity Options transactions are limited to 

transactions in options on underlying securities that 

have been approved by the Exchange in accordance 

with CBOE Rule 5.3, which includes, but is not 

limited to, stock options and exchange-traded fund 

options. In addition, other products are permitted 

to be traded pursuant to the FLEX trading 

procedures. For example, credit options are eligible 

for trading as FLEX Options pursuant to the FLEX 

rules in Chapters XXIVA and XXIVB. See CBOE 

Rules 24A.1(e) and (f), 24A.4(b)(1) and (c)(1), 

24B.1(f) and (g), 24B.4(b)(1) and (c)(1), and 28.19. 

7For example, under the current rule, a FLEX 

Option could expire on the Tuesday before 

Expiration Friday, but could not expire on the 

Wednesday or Thursday before Expiration Friday. 

Similarly, a FLEX Option could expire on the 

Wednesday after Expiration Friday, but could not 

expire on the Monday or Tuesday after Expiration 

Friday. However, subject to certain aggregation 

requirements for cash settled options, the current 

FLEX Rules do permit the expiration of FLEX 

Options on the same day that Non-FLEX quarterly 

index options (‘‘QIX’’) and Non-FLEX Weeklys 

Options expire. 

8FLEX Index Options overlying all industry 

indexes, all micro narrow-based indexes, and 

certain broad-based indexes are subject to position 

and exercise limits under CBOE Rules 24A.7, 

24A.8, 24B.7, and 24B.8 and will continue to be 

under the proposal. FLEX Index Options on certain 

other broad-based indexes (specifically the BXM, 

DJX, NDX, OEX, RUT, SPX, VIX, VXD, VXN, XEO, 

CBOE S&P 500 Three-Month Realized Variance and 

S&P 500 Three-Month Realized Volatility), and 

FLEX Equity Options are not subject to position 

limits but would remain subject to reporting 

requirements under CBOE Rules 24A.7 and 24B.7, 

Continued 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless it displays a currently valid 

control number. 

Comments should be directed to (i) 

Desk Officer for the Securities and 

Exchange Commission, Office of 

Information and Regulatory Affairs, 

Office of Management and Budget, 

Room 10102, New Executive Office 

Building, Washington, DC 20503 or by 

sending an e-mail to: 

Shagufta_Ahmed@omb.eop.gov; and (ii) 

Charles Boucher, Director/Chief 

Information Officer, Securities and 

Exchange Commission, c/o Shirley 

Martinson, 6432 General Green Way, 

Alexandria, VA 22312 or send an e-mail 

to: PRA_Mailbox@sec.gov. Comments 

must be submitted within 30 days of 

this notice. 

Dated: February 18, 2009. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–4035 Filed 2–24–09; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meeting 

Notice is hereby given, pursuant to 

the provisions of the Government in the 

Sunshine Act, Public Law 94–409, that 

the Securities and Exchange 

Commission will hold a Closed Meeting 

on Thursday, February 26, 2009 at 2 

p.m. 

Commissioners, Counsel to the 

Commissioners, the Secretary to the 

Commission, and recording secretaries 

will attend the Closed Meeting. Certain 

staff members who have an interest in 

the matters also may be present. 

The Acting General Counsel of the 

Commission, or his designee, has 

certified that, in his opinion, one or 

more of the exemptions set forth in 5 

U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) 

and 17 CFR 200.402(a)(3), (5), (7), 9(ii) 

and (10), permit consideration of the 

scheduled matters at the Closed 

Meeting. 

Commissioner Casey, as duty officer, 

voted to consider the items listed for the 

Closed Meeting in closed session and 

determined that no earlier notice thereof 

was possible. 

The subject matter of the Closed 

Meeting scheduled for Thursday, 

February 26, 2009 will be: 

Institution and settlement of injunctive 

actions; 

Institution and settlement of 

administrative proceedings of an 

enforcement nature; 

Other matters relating to enforcement 

proceedings. 

At times, changes in Commission 

priorities require alterations in the 

scheduling of meeting items. 

For further information and to 

ascertain what, if any, matters have been 

added, deleted or postponed, please 

contact: 

The Office of the Secretary at (202) 

551–5400. 

Dated: February 20, 2009. 

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. E9–3993 Filed 2–24–09; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59417; File No. SR–CBOE– 

2008–115] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Notice of Filing of 

Amendments No. 1 and 2 and Order 

Granting Accelerated Approval to a 

Proposed Rule Change, as Modified by 

Amendments No. 1 and 2 Thereto, 

Relating to FLEX Options Expirations 

February 18, 2009. 

I. Introduction 

On November 19, 2008, Chicago 

Board Options Exchange, Incorporated 

(‘‘CBOE’’ or ‘‘Exchange’’), filed with the 

Securities and Exchange Commission 

(‘‘Commission’’), pursuant to Section 

19(b)(1) of the Securities Exchange Act 

of 1934 (‘‘Act’’) 1 and Rule 19b–4 

thereunder,2 a proposed rule change to 

amend its rules regarding permissible 

expiration dates for Flexible Exchange 

Options (‘‘FLEX Options’’). On 

December 15, 2008, the proposed rule 

change was published for comment in 

the Federal Register.3 On January 28, 

2009, the Exchange filed Amendment 

No. 1 4 and on February 12, 2009, the 

Exchange filed Amendment No. 2.5 The 

Commission received no comments on 

the proposed rule change. This order 

provides notice of filing of Amendments 

No. 1 and 2 to the proposed rule change 

and grants accelerated approval to the 

proposed rule change, as modified by 

Amendments No. 1 and 2. 

II. Description of the Proposal 

Under current CBOE Rules 24A.4 and 

24B.4, FLEX Options 6 may not expire 

on any business day that falls on, or 

within two business days of, an 

Expiration Friday.7

In this proposed rule change, the 

Exchange proposed to eliminate the 

expiration date restriction on FLEX 

Options expiring on or within two 

business days of Expiration Friday 

(‘‘Blackout Period’’) so that FLEX 

Options may expire on any business 

day. Under its proposal, position and 

exercise limits, as applicable under 

CBOE Rules, and reporting requirements 

would continue to apply.8 The 


pwalker on PROD1PC71 with NOTICES