730 Federal Register / Vol. 74, No. 4 / Wednesday, January 7, 2009 / Notices 

9 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 58817 

(October 20, 2008), 73 FR 63744 (October 27, 2008). 

The ORF is designed to recover a portion of the 

costs to the Exchange of the supervision and 

regulation of its members, including performing 

routine surveillances, investigations, examinations, 

financial monitoring, and policy, rulemaking, 

interpretive, and enforcement activities. 

4 15 U.S.C. 78f(b). 

5 15 U.S.C. 78f(b)(4). 

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

Number 4–533 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 4–533. 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, on official business days between 

the hours of 10 a.m. and 3 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 4–533 and 

should be submitted on or before 

January 28, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Florence E. Harmon, 

Acting Secretary. 

[FR Doc. E9–11 Filed 1–6–09; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59182; File No. SR–CBOE– 

2008–130] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Relating to the Options 

Regulatory Fee 

December 30, 2008. 

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 December 

24, 2008, the Chicago Board Options 

Exchange, Incorporated (‘‘CBOE’’ or 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 CBOE. 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 

CBOE proposes to amend its Fees 

Schedule relating to the Options 

Regulatory Fee. The text of the proposed 

rule change is available on the 

Exchange’s Web site (http:// 

www.cboe.org/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, 

CBOE 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. CBOE 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 

(a) Purpose 

The Exchange recently filed a 

proposed rule change with the 

Commission to eliminate Registered 

Representative Fees and establish a 

transaction-based ‘‘Options Regulatory 

Fee’’ (‘‘ORF’’).3 Effective January 1, 

2009, the Exchange would assess $.0045 

per contract to each member for all 

options transactions executed by the 

member that are cleared by The Options 

Clearing Corporation (‘‘OCC’’) in the 

customer range (i.e., that clear in a 

customer account at OCC), excluding 

Options Intermarket Linkage Plan 

(‘‘Linkage’’) orders. The ORF would be 

imposed upon all such transactions 

executed by a member, even if such 

transactions do not take place on the 

Exchange. The ORF would be collected 

indirectly from members through their 

clearing firms by OCC on behalf of the 

Exchange. 

The Exchange proposes to waive the 

fee until February 1, 2009. The purpose 

for the fee waiver is to allow additional 

time for the Exchange and OCC to 

implement the procedures to be used by 

OCC to bill and collect the ORF. 

(b) Statutory Basis 

The Exchange believes the proposed 

rule change is consistent with Section 

6(b) of the Securities Exchange Act of 

1934 (‘‘Act’’) 4 [sic], in general, and 

furthers the objectives of Section 

6(b)(4) 5 of the Act in particular, in that 

it is designed to provide for the 

equitable allocation of reasonable dues, 

fees, and other charges among its 

members and other persons using its 

facilities. The Exchange believes it is 

appropriate to waive the ORF pending 

the implementation of the billing and 

collection procedures for the ORF. 

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 that is not 

necessary or appropriate in furtherance 

of 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. 

Federal Register / Vol. 74, No. 4 / Wednesday, January 7, 2009 / Notices 731 

6 15 U.S.C. 78s(b)(3)(A). 

7 17 CFR 240.19b–4(f)(2). 

8 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 57497 

(March 14, 2008), 73 FR 15019 (March 20, 2008) 

(SR–FINRA–2007–021) (notice). 

4See Joseph C. Korsak, Esq., dated November 4, 

2007 (‘‘Korsak Letter’’); Will Struyk, dated 

December 10, 2007 (‘‘Struyk Letter’’); Michael 

Thurman, Esq., Loeb & Loeb LLP, dated February 

29, 2008 (‘‘Thurman Letter’’); Prof. Seth E. Lipner, 

Esq., Baruch College dated March 18, 2008 (‘‘Lipner 

Letter’’); Leonard Steiner, Esq., dated March 18, 

2008 (‘‘Steiner Letter’’); Laurence S. Schultz, Esq., 

Public Investors Arbitration Bar Association, dated 

March 18, 2008 (‘‘PIABA Letter’’); Steven J. Gard, 

Esq., Gard Law Firm, dated March 20, 2008 (‘‘Gard 

Letter’’); Steven B. Caruso, Esq., Maddox Hargett 

Caruso, P.C., dated March 20, 2008 (‘‘Caruso 

Letter’’); Philip M. Aidikoff, Esq., dated March 21, 

2008 (‘‘Aidikoff Letter’’); Charles W. Austin, Jr., 

Esq., dated March 21, 2008 (‘‘Austin Letter’’); Gail 

E. Boliver, dated March 22, 2008 (‘‘Boliver Letter’’); 

Steve A. Buchwalter, Esq., dated March 23, 2008 

(‘‘Buchwalter Letter’’); Ryan K. Bakhtiari, Esq., Uhl 

and Bakhtiari, dated March 24, 2008 (‘‘Bakhtiari 

Letter’’); Mark E. Maddox, Esq., Maddox Hargett 

Caruso, P.C., dated March 24, 2008 (‘‘Maddox 

Letter’’); Robert W. Goehring, Esq., dated March 24, 

2008 (‘‘Goehring Letter’’); John J. Miller, Esq., 

Swanson Midgley, LLC, dated March 24, 2008 

(‘‘Miller Letter’’); Richard A. Lewins, dated March 

24, 2008 (‘‘Lewins Letter’’); Howard Rosenfield, 

Esq., dated March 24, 2008 (‘‘Rosenfield Letter’’); 

Sam Edwards, Esq., dated March 24, 2008 

(‘‘Edwards Letter’’); Noah H. Simpson, Esq., 

Simpson Woolley, LLP, dated March 24, 2008 

(‘‘Simpson Letter’’); Robert A. Uhl, Esq., March 25, 

2008 (‘‘Uhl Letter’’); David Harrison, Esq., dated 

March 26, 2008 (‘‘Harrison Letter’’); Jeffrey Sonn, 

Esq., Sonn Erez, PLC, dated March 26, 2008 (‘‘Sonn 

Letter’’); Brian N. Smiley, Esq., Smiley Bishop 

Porter LLP, dated March 26, 2008 (‘‘Smiley Letter’’); 

Thomas A. Hargett, Esq., dated March 27, 2008, 

(‘‘Hargett Letter’’); Jay Salamon, Esq., Hermann, 

Cahn and Schneider LLP, dated March 27, 2008 

(‘‘Salamon Letter’’); J. Pat Sadler, Esq., dated March 

31, 2008 (‘‘Sadler Letter’’); Keith L. Griffin, Esq., 

Maddox Hargett Caruso, P.C., dated April 1, 2008 

(‘‘Griffin Letter’’); Scott R. Shewan, Esq., Born, Pape 

& Shewan LLP, dated April 1, 2008 (‘‘Shewan 

Letter’’); Alan S. Brodherson, Esq., dated April 3, 

2008 (‘‘Brodherson Letter’’); W. Scott Greco, Esq., 

Greco & Greco, P.C., dated April 3, 2008 (‘‘Greco 

Letter’’); David P. Neuman, Esq., Stoltmann Law 

Offices, P.C., dated April 4, 2008 (‘‘Neuman 

Letter’’); Edward G. Turan and Martha E. Solinger, 

Securities Industry and Financial Markets 

Association, dated April 7, 2008 (‘‘SIFMA Letter’’); 

Curt H. Mueller, Esq., Schwab & Co., Inc., dated 

April 7, 2008 (‘‘Schwab Letter’’); Erin Linehan, Esq., 

Raymond James Financial, Inc., dated April 8, 2008 

(‘‘Raymond James Letter’’); Barry D. Estell, Esq., 

dated April 8, 2008 (‘‘Estell Letter’’); Robert C. Port, 

Esq., dated April 8, 2008 (‘‘Port Letter’’); Jonathan 

W. Evans, Esq., dated April 8, 2008 (‘‘Evans 

Letter’’); Kevin A. Carreno, dated April 8, 2008 

(‘‘Carreno Letter’’); Vincent J. Imbesi, Esq., The 

Avelino Law Firm, dated April 9, 2008 (‘‘Imbesi 

Letter’’); John E. Lawlor, Esq., dated April 9, 2008 

(‘‘Lawlor Letter’’); Jonathan Schwartz, Esq., dated 

April 9, 2008 (‘‘Schwartz Letter’’); Andrew Dale 

Ledbetter, dated April 9, 2008 (‘‘Ledbetter Letter’’); 

Theodore A. Krebsbach, Esq., Krebsbach & Snyder, 

dated April 9, 2008 (‘‘Krebsbach Letter’’); Raymond 

W. Henney, Esq., Honigman Miller Schwartz and 

Cohn LLP, dated April 9, 2008 (‘‘Henney Letter’’); 

Randall R. Heiner, Esq., dated April 9, 2008 

(‘‘Heiner Letter’’); Inge Selden III, Esq., Maynard 

Cooper & Gale PC, dated April 9, 2008 (‘‘Selden 

Letter’’); Eric G. Wallis, Esq., Reed Smith LLP, dated 

April 9, 2008 (‘‘Wallis Letter’’); Robert H. Rex, Esq., 

Continued 

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) 

of the Act 6 and subparagraph (f)(2) of 

Rule 19b–4 7 thereunder. 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–2008–130 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–CBOE–2008–130. 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– 

2008–130 and should be submitted on 

or before January 28, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.8

Florence E. Harmon, 

Acting Secretary. 

[FR Doc. E9–7 Filed 1–6–09; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59189; File No. SR–FINRA– 

2007–021] 

Self-Regulatory Organizations; 

Financial Industry Regulatory 

Authority, Inc.; Order Approving 

Proposed Rule Change, as Modified by 

Amendment No. 1 Thereto, Relating to 

Amendments to the Code of 

Arbitration Procedure for Customer 

Disputes and the Code of Arbitration 

Procedure for Industry Disputes To 

Address Motions To Dismiss and To 

Amend the Eligibility Rule Related to 

Dismissals 

December 31, 2008. 

I. Introduction 

The Financial Industry Regulatory 

Authority, Inc. (‘‘FINRA’’) (f/k/a 

National Association of Securities 

Dealers, Inc. (‘‘NASD’’)) filed with the 

Securities and Exchange Commission 

(‘‘SEC’’ or ‘‘Commission’’) on November 

2, 2007, and amended on February 13, 

2008 (Amendment No. 1), 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 relating to amendments to the 

Code of Arbitration Procedure for 

Customer Disputes (‘‘Customer Code’’) 

and the Code of Arbitration Procedure 

for Industry Disputes (‘‘Industry Code,’’ 

and together with the Customer Code, 

the ‘‘Codes’’) to address motions to 

dismiss and to amend the eligibility rule 

related to dismissals. The proposed rule 

change was published for comment in 

the Federal Register on March 20, 

2008.3 The Commission received 119 

comments in response to the proposed 

rule change.4 This order approves the