Federal Register / Vol. 74, No. 43 / Friday, March 6, 2009 / Notices 9839 

1Financial Reporting Release No. 70. 

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

2 17 CFR 240.19b–4. 

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

4 17 CFR 240.19b–4(f)(3). 

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

6 15 U.S.C. 78f(b)(1). 

setting body under the Act, and 

recognizing the FASB’s financial 

accounting and reporting standards as 

‘‘generally accepted’’ under Section 108 

of the Act.1 As a consequence of that 

recognition, the Commission undertook 

a review of the FASB’s accounting 

support fee for calendar year 2009. In 

connection with its review, the 

Commission also reviewed the budget 

for the FAF and the FASB for calendar 

year 2009. 

Section 109 of the Act also provides 

that the standard setting body can have 

additional sources of revenue for its 

activities, such as earnings from sales of 

publications, provided that each 

additional source of revenue shall not 

jeopardize, in the judgment of the 

Commission, the actual or perceived 

independence of the standard setter. In 

this regard, the Commission also 

considered the interrelation of the 

operating budgets of the FAF, the FASB 

and the Governmental Accounting 

Standards Board (‘‘GASB’’), the FASB’s 

sister organization, which sets 

accounting standards used by state and 

local governmental entities. The 

Commission has been advised by the 

FAF that neither the FAF, the FASB nor 

the GASB accept contributions from the 

accounting profession. 

After its review, the Commission 

determined that the 2009 annual 

accounting support fee for the FASB is 

consistent with Section 109 of the Act. 

Accordingly, it is ordered, pursuant to 

Section 109 of the Act, that the FASB 

may act in accordance with this 

determination of the Commission. 

By the Commission. 

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. E9–4780 Filed 3–5–09; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59462; File No. SR–CBOE– 

2009–010] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Inc.; Notice of Filing and Immediate 

Effectiveness of Proposed Rule 

Change To Amend Exchange 

Regulatory Circular RG02–101 Issued 

Under Rule 17.50(g)(6)—Imposition of 

Fines for Minor Rule Violations 

February 26, 2009. 

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

Securities Exchange Act of 1934 (the 

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

notice is hereby given that on February 

18, 2009, Chicago Board Options 

Exchange, Inc. filed with the Securities 

and Exchange Commission (the 

‘‘Commission’’) the proposed rule 

change as described in Items I, II, and 

III below, which Items have been 

prepared by the Exchange. The 

Exchange filed the proposal pursuant to 

Section 19(b)(3)(A)(iii) of the Act 3 and 

Rule 19b–4(f)(3) thereunder.4 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 Chicago Board Options Exchange, 

Inc. (‘‘CBOE’’ or ‘‘Exchange’’) proposes 

to amend Regulatory Circular RG02–101 

(Violations of Trading Conduct and 

Decorum Policies) issued in accordance 

with Exchange Rule 17.50(g)(6)— 

Imposition of Fines for Minor Rule 

Violations to provide the Exchange with 

the flexibility to allow Exchange 

members and their associated persons to 

bring certain foods and/or drinks to the 

trading floor as set forth by the 

Exchange in a separate Regulatory 

Circular. CBOE is also proposing several 

non-substantive changes. The text of the 

proposed rule change is available on the 

Exchange’s Web site (http:// 

www.cboe.com/Legal), at the Exchange’s 

Office of the Secretary, and at the 

Commission. 

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 

self-regulatory organization 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 those statements may be examined at 

the places specified in Item IV below 

and is set forth in sections (A), (B), and 

(C) below. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

CBOE is proposing to amend 

Regulatory Circular RG02–101 to enable 

the Exchange to adopt policies 

providing exceptions to the existing 

prohibition of food and drinks on the 

trading floor. In adopting this flexibility, 

the Exchange may notify members 

through a separate Regulatory Circular 

of food or drinks that would be 

permissible on the trading floor and, if 

applicable, any limitations on such 

permissible food and drinks. Violations 

of the food or drink policy would 

continue to be subject to the existing 

fine schedule as set forth in Exhibit 5. 

CBOE is proposing to adopt this 

flexibility to accommodate Members 

and Associated Persons that are unable 

to leave the trading floor during the day. 

CBOE is also proposing several nonsubstantive changes. First, CBOE is 

proposing to remove the previous 

Regulatory Circular number as a new 

number will be assigned when the 

amended circular is issued. In addition, 

CBOE is proposing to update the contact 

information included on the Regulatory 

Circular. In particular, the Exchange is 

proposing issue the circular from its 

Legal Division and Member and 

Regulatory Services Division rather than 

the Floor Officials Committee. Further, 

CBOE is proposing to amend the 

Regulatory Circular to reflect existing 

staff that may be contacted regarding 

questions about the Regulatory Circular 

and remove contact information that is 

no longer current. CBOE is also 

proposing to delete an unnecessary 

comma in the reference to one of the 

earlier circulars listed. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) the Act,5 in general, and 

furthers the objectives of Section 6(b)(1) 

of the Act 6 in particular, to enable the 

Exchange to enforce compliance by its 

members and persons associated with 

its members with the rules of the 

Exchange. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

CBOE 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. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

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9840 Federal Register / Vol. 74, No. 43 / Friday, March 6, 2009 / Notices 

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

8 17 CFR 240.19b–4(f)(3). 

9 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3Capitalized terms not otherwise defined herein 

shall have the meanings set forth in the BOX Rules. 4See Chapter V, Section 14 of the BOX Rules. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change has become 

effective pursuant to Section 

19(b)(3)(A)(iii) of the Act 7 and Rule 

19b–4(f)(3) 8 thereunder because it is 

concerned solely with the 

administration of the Exchange. At any 

time within 60 days of the filing of the 

proposed rule change, the Commission 

may summarily abrogate such rule 

change if it appears to the Commission 

that such action is necessary or 

appropriate in the public interest, for 

the protection of investors, or otherwise 

in furtherance of the purposes of the 

Act. 

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 e-mail to rulecomments@sec.gov. Please include File 

Number SR–CBOE–2009–010 on the 

subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Elizabeth M. Murphy, Secretary, 

Securities and Exchange Commission, 

100 F Street, NE., Washington, DC 

20549–1090. 

All submissions should refer to File 

Number SR–CBOE–2009–010. This file 

number should be included on the 

subject line if e-mail 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 inspection and copying in 

the Commission’s Public Reference 

Room, 100 F Street, NE., Washington, 

DC 20549, on official business days 

between the hours of 10 a.m. and 3 p.m. 

Copies of the filing will also be available 

for inspection and copying at the 

principal office of the self-regulatory 

organization. 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–CBOE– 

2009–010 and should be submitted on 

or before March 27, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–4757 Filed 3–5–09; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59475; File No. SR–BX– 

2009–014] 

Self-Regulatory Organizations; 

NASDAQ OMX BX, Inc.; Notice of Filing 

of Proposed Rule Change Relating to 

Zero Bid Orders on the Boston Options 

Exchange Facility 

February 27, 2009. 

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 February 

26, 2009, NASDAQ OMX BX, Inc. (the 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Items I, II, and 

III below, which Items have been 

prepared by the self-regulatory 

organization. The Commission is 

publishing this notice to solicit 

comments on the proposed rule from 

interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to amend 

Chapter V, Section 14 (Order Entry) of 

the Rules of the Boston Options 

Exchange Group, LLC (‘‘BOX’’) to clarify 

the treatment of certain Zero Bid 

Orders.3 The text of the proposed rule 

change is available from the principal 

office of the Exchange, at the 

Commission’s Public Reference Room 

and also on the Exchange’s Internet Web 

site at http:// 

nasdaqomxbx.cchwallstreet.com/ 

NASDAQOMXBX/Filings/. 

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 

self-regulatory organization 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 self-regulatory organization has 

prepared summaries, set forth in 

Sections A, B, and 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 amend Chapter V, Section 

14 of the BOX Rules to clarify the 

treatment of Market Orders to sell and 

BOX-Top Orders to sell when the 

highest bid on BOX is zero in the 

options series for a particular order 

(‘‘Zero Bid Order’’). Currently, Section 

14 states, in part, that: ‘‘[i]n the case 

where the lowest offer for any options 

contract is $.05, and an Options 

Participant enters a Market Order to sell 

that series, any such Market Order shall 

be considered a Limit Order to sell at a 

price of $.05.’’ 4

The Exchange seeks to amend Chapter 

V, Section 14 of the BOX Rules to (1) 

clarify the specific circumstances under 

which an order will be considered a 

Zero Bid Order, (2) address the 

treatment of Zero Bid Orders in options 

classes that trade in other than $.05 

increments, and (3) address the 

treatment of Zero Bid Orders that would 

cause a locked or crossed market. 

The Exchange proposes to amend 

Section 14 so that it will apply equally 

to Market Orders to sell and BOX-Top 

Orders to sell when the highest bid on 

BOX is zero in the options series. In this 

case such Zero Bid Orders shall be 

considered a Limit Order to sell at a 

price, above zero, that is equal to the 

minimum trading increment applicable 

to that particular options series. 

Consequently, where the BOX market 

displays a zero bid and the options 

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