25902 Federal Register / Vol. 75, No. 89 / Monday, May 10, 2010 / Notices 

7See Securities Exchange Act Release Nos. 56148 

(July 26, 2007), 72 FR 42146 (August 1, 2007) (order 

approving the Agreement); 56147 (July 26, 2007), 72 

FR 42166 (August 1, 2007) (SR–NASD–2007–054) 

(order approving the incorporation of certain NYSE 

Rules as ‘‘Common Rules’’); and 60409 (July 30, 

2009), 74 FR 39353 (August 6, 2009) (order 

approving the amended and restated Agreement, 

adding NYSE Amex LLC as a party). Paragraph 2(b) 

of the Agreement sets forth procedures regarding 

proposed changes by FINRA, NYSE or NYSE Amex 

to the substance of any of the Common Rules. 

8FINRA’s rulebook currently has three sets of 

rules: (1) NASD Rules, (2) FINRA Incorporated 

NYSE Rules, and (3) consolidated FINRA Rules. 

The FINRA Incorporated NYSE Rules apply only to 

those members of FINRA that are also members of 

the NYSE, while the consolidated FINRA Rules 

apply to all FINRA members. For more information 

about the FINRA rulebook consolidation process, 

see FINRA Information Notice, March 12, 2008. 

9See Securities Exchange Act Release No. 58533 

(September 12, 2008), 73 FR 54652 (September 22, 

2008) (order approving SR–FINRA–2008–036). 

10See Securities Exchange Act Release No. 59022 

(November 26, 2008), 73 FR 73683 (December 3, 

2008) (order approving SR–NYSEALTR–2008–10). 

11See Release No. 34–60534, supra note 4. 

12New York Stock Exchange LLC submitted a 

companion rule filing amending its rules in 

accordance with FINRA’s rule changes, which the 

Commission has approved. See Securities Exchange 

Act Release No. 62015 (April 30, 2010)(SR–NYSE– 

2010–23). 

13See FINRA Regulatory Notice 09–60 (October 

15, 2009). 

14As provided in paragraph 2(b) of the 

Agreement, FINRA and NYSE will amend the list 

of Common Rules to conform to the rule changes 

proposed herein. 

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

16 In approving the proposed rule change, the 

Commission has considered the proposed rule’s 

impact on efficiency, competition and capital 

formation. See 15 U.S.C. 78c(f). 

17 15 U.S.C. 78s(b)(2). 

18 17 CFR 200.30–3(a)(12). 

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

allocating to FINRA certain regulatory 

responsibilities for certain NYSE rules 

and rule interpretations (‘‘FINRA 

Incorporated NYSE Rules’’). The 

Exchange became a party to the 

Agreement effective December 15, 

2008.7

As part of its effort to reduce 

regulatory duplication and relieve firms 

that are members of FINRA, NYSE and 

NYSE Amex of conflicting or 

unnecessary regulatory burdens, FINRA 

is now engaged in the process of 

reviewing and amending the NASD and 

FINRA Incorporated NYSE Rules in 

order to create a consolidated FINRA 

rulebook.8

In 2008, FINRA deleted FINRA 

Incorporated NYSE Rule 446 (Business 

Continuity and Contingency Plans) as 

substantively duplicative of NASD 

Rules 3510 (Business Continuity Plans) 

and 3520 (Emergency Contact 

Information).9 Correspondingly, the 

Exchange amended Rule 446—NYSE 

Amex Equities (Business Continuity and 

Contingency Plans) to remove the 

existing text and incorporate NASD 

Rules 3510 and 3520 by reference.10

Subsequently, FINRA adopted, subject 

to certain amendments, NASD Rules 

3510 and 3520 as consolidated FINRA 

Rule 4370 (Business Continuity Plans 

and Emergency Contact Information).11

The Exchange correspondingly 

proposes to delete Rule 446—NYSE 

Amex Equities and replace it with 

proposed Rule 4370—NYSE Amex 

Equities, which is substantially similar 

to the new FINRA Rule.12 The Exchange 

states that the purpose of this is to 

harmonize the NYSE Amex Equities 

Rules with the consolidated FINRA 

Rules. The Exchange states that, as 

proposed, Rule 4370—NYSE Amex 

Equities adopts the same language as 

FINRA Rule 4370, except for 

substituting for or adding to, as needed, 

the term ‘‘member organization’’ for the 

term ‘‘member,’’ and making 

corresponding technical changes that 

reflect the difference between NYSE 

Amex’s and FINRA’s membership 

structures. The Exchange also states 

that, in paragraph (f)(2) to proposed 

NYSE Rule 4370—NYSE Amex Equities, 

the Exchange has added a crossreference to Rule 416A—NYSE Amex 

Equities to ensure that those Exchange 

members and member organizations that 

are not FINRA members are required to 

update the contact information for 

emergency personnel in accordance 

with NYSE Amex Equities Rules. 

The Exchange also proposes to add 

Supplementary Material .01 to Rule 

4370—NYSE Amex Equities to provide 

that, for the purposes of the rule, the 

term ‘‘associated person’’ shall have the 

same meaning as the terms ‘‘person 

associated with a member’’ or 

‘‘associated person of a member’’ as 

defined in Article I (rr) of the FINRA ByLaws. The Exchange states that this 

change is necessary to ensure that both 

proposed Rule 4370—NYSE Amex 

Equities and FINRA Rule 4370 are fully 

harmonized. 

Finally, the Exchange proposes that 

the effective date for the proposed rule 

changes be retroactive to December 14, 

2009, the same effective date for the 

corresponding FINRA rule changes.13

As a result, there should be no 

regulatory gaps between the FINRA and 

NYSE Amex Equities Rules and that, as 

applicable, the NYSE Amex Equities 

Rules would maintain their status as 

Common Rules under the Agreement.14

IV. Discussion and Commission 

Findings 

After careful review, the Commission 

finds that the proposed rule change is 

consistent with the requirements of the 

Act and the rules and regulations 

thereunder applicable to a national 

securities exchange. Specifically, the 

Commission finds that the proposed 

rule change is consistent with Section 

6(b)(5) of the Act,15 which requires, 

among other things, that the rules of a 

national securities exchange be 

designed to prevent fraudulent and 

manipulative acts and practices, 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.16

The Commission believes that the 

proposed rule change provides greater 

harmonization between NYSE Amex 

Equities Rules and FINRA Rules of 

similar purpose, resulting in less 

burdensome and more efficient 

regulatory compliance for NYSE Amex 

members. In addition, the Commission 

believes that retroactive application of 

the proposed rule change to December 

14, 2009, is appropriate to assure that 

there are no regulatory gaps between 

FINRA and NYSE Amex Equities Rules, 

and that, as applicable, the NYSE Amex 

Rules would maintain their status as 

Common Rules under the Agreement. 

V. Conclusion 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,17 that the 

proposed rule change (SR–NYSEAmex– 

2010–26), be, and hereby is, approved. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.18

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–10952 Filed 5–7–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–62015; File No. SR–NYSE– 

2010–23] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Order 

Approving Proposed Rule Change 

Deleting NYSE Rule 446 and Adopting 

New Rule 4370 To Correspond With 

Rule Changes Filed by the Financial 

Industry Regulatory Authority, Inc. 

April 30, 2010. 

I. Introduction 

On March 11, 2010, the New York 

Stock Exchange LLC (‘‘NYSE’’ or 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission 

(‘‘Commission’’), pursuant to Section 

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


jlentini on DSKJ8SOYB1PROD with NOTICES
Federal Register / Vol. 75, No. 89 / Monday, May 10, 2010 / Notices 25903 

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4See Securities Exchange Act Release No. 60534 

(August 19, 2009), 74 FR 44410 (August 28, 2009) 

(order approving SR–FINRA–2009–036) (‘‘Release 

No. 34–60534’’). 

5See Securities Exchange Act Release No. 61743 

(March 19, 2010), 75 FR 14650. 

6See Release No. 34–60534, supra note 4. 

7See Securities Exchange Act Release Nos. 56148 

(July 26, 2007), 72 FR 42146 (August 1, 2007) (order 

approving the Agreement); 56147 (July 26, 2007), 72 

FR 42166 (August 1, 2007) (SR–NASD–2007–054) 

(order approving the incorporation of certain NYSE 

Rules as ‘‘Common Rules’’); and 60409 (July 30, 

2009), 74 FR 39353 (August 6, 2009) (order 

approving the amended and restated Agreement, 

adding NYSE Amex LLC as a party). Paragraph 2(b) 

of the Agreement sets forth procedures regarding 

proposed changes by FINRA, NYSE or NYSE Amex 

to the substance of any of the Common Rules. 

8FINRA’s rulebook currently has three sets of 

rules: (1) NASD Rules, (2) FINRA Incorporated 

NYSE Rules, and (3) consolidated FINRA Rules. 

The FINRA Incorporated NYSE Rules apply only to 

those members of FINRA that are also members of 

the NYSE (‘‘Dual Members’’), while the consolidated 

FINRA Rules apply to all FINRA members. For 

more information about the FINRA rulebook 

consolidation process, see FINRA Information 

Notice, March 12, 2008. 

9See Securities Exchange Act Release No. 58533 

(September 12, 2008), 73 FR 54652 (September 22, 

2008) (order approving SR–FINRA–2008–036). 

10See Securities Exchange Act Release No. 58549 

(September 15, 2008), 73 FR 54444 (September 19, 

2008) (order approving SR–NYSE–2008–080). 

11See Release No. 34–60534, supra note 4. 

12NYSE Amex submitted a companion rule filing 

amending its rules in accordance with FINRA’s rule 

changes, which the Commission has approved. See 

Securities Exchange Act Release No. 62014 (April 

30, 2010) (SR–NYSE–Amex–2010–26). 

13See FINRA Regulatory Notice 09–60 (October 

15, 2009). 14As provided in paragraph 2(b) of the 

Agreement, FINRA and NYSE will amend the list 

of Common Rules to conform to the rule changes 

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

16 In approving the proposed rule change, the 

Commission notes that it has considered the 

proposed rule’s impact on efficiency, competition, 

and capital formation. 15 U.S.C. 78c(f). 

of 1934 (the ‘‘Act’’),2 and Rule 19b–4 

thereunder,3 a proposed rule change to 

delete NYSE Rule 446 and adopt new 

Rule 4370 to correspond with rule 

changes filed by the Financial Industry 

Regulatory Authority, Inc. (‘‘FINRA’’) 

and approved by the Commission.4 The 

proposed rule change was published for 

comment in the Federal Register on 

March 26, 2010.5 The Commission 

received no comments on the proposal. 

This order approves the proposed rule 

change. 

II. Description of the Proposal 

The Exchange proposes to delete 

NYSE Rule 446 and adopt new Rule 

4370 to correspond with rule changes 

filed by FINRA and approved by the 

Commission.6

Background 

On July 30, 2007, FINRA’s 

predecessor, the National Association of 

Securities Dealers, Inc. (‘‘NASD’’), and 

NYSE Regulation, Inc. (‘‘NYSER’’) 

consolidated their member firm 

regulation operations into a combined 

organization, FINRA. Pursuant to Rule 

17d–2 under the Act, NYSE, NYSER and 

FINRA entered into an agreement (the 

‘‘Agreement’’) to reduce regulatory 

duplication for their members by 

allocating to FINRA certain regulatory 

responsibilities for certain NYSE rules 

and rule interpretations (‘‘FINRA 

Incorporated NYSE Rules’’). NYSE 

Amex LLC (‘‘NYSE Amex’’) became a 

party to the Agreement effective 

December 15, 2008.7

As part of its effort to reduce 

regulatory duplication and relieve firms 

that are members of FINRA, NYSE and 

NYSE Amex of conflicting or 

unnecessary regulatory burdens, FINRA 

is now engaged in the process of 

reviewing and amending the NASD and 

FINRA Incorporated NYSE Rules in 

order to create a consolidated FINRA 

rulebook.8

In 2008, FINRA deleted FINRA 

Incorporated NYSE Rule 446 (Business 

Continuity and Contingency Plans) as 

substantively duplicative of NASD 

Rules 3510 (Business Continuity Plans) 

and 3520 (Emergency Contact 

Information).9 Correspondingly, the 

Exchange amended NYSE Rule 446 

(Business Continuity and Contingency 

Plans) to remove the existing text and 

incorporate NASD Rules 3510 and 3520 

by reference.10 Subsequently, FINRA 

adopted, subject to certain amendments, 

NASD Rules 3510 and 3520 as 

consolidated FINRA Rule 4370 

(Business Continuity Plans and 

Emergency Contact Information).11

The Exchange correspondingly 

proposes to delete NYSE Rule 446 and 

replace it with proposed NYSE Rule 

4370, which is substantially similar to 

the new FINRA Rule.12 The Exchange 

states that the purpose of this proposed 

rule change is to harmonize the NYSE 

Rules with the consolidated FINRA 

Rules. The Exchange states that, as 

proposed, NYSE Rule 4370 adopts the 

same language as FINRA Rule 4370, 

except for substituting for or adding to, 

as needed, the term ‘‘member 

organization’’ for the term ‘‘member,’’ 

and making corresponding technical 

changes that reflect the difference 

between NYSE’s and FINRA’s 

membership structures. The Exchange 

also states that, in paragraph (f)(2) to 

proposed NYSE Rule 4370, the 

Exchange has added a cross-reference to 

NYSE Rule 416A to ensure that those 

Exchange members and member 

organizations that are not FINRA 

members are required to update the 

contact information for emergency 

personnel in accordance with NYSE 

Rules. 

The Exchange also proposes to add 

Supplementary Material .01 to NYSE 

Rule 4370 to provide that, for the 

purposes of the rule, the term 

‘‘associated person’’ shall have the same 

meaning as the terms ‘‘person associated 

with a member’’ or ‘‘associated person of 

a member’’ as defined in Article I (rr) of 

the FINRA By-Laws. The Exchange 

states that this change is necessary to 

ensure that both proposed NYSE Rule 

4370 and FINRA Rule 4370 are fully 

harmonized. 

Finally, the Exchange proposes that 

the effective date for the proposed rule 

changes be retroactive to December 14, 

2009, the same effective date for the 

corresponding FINRA rule changes.13

As a result, there should be no 

regulatory gaps between the FINRA and 

NYSE Rules and that, as applicable, the 

NYSE Rules would maintain their status 

as Common Rules under the 

Agreement.14

III. Discussion and Commission 

Findings 

After careful review, the Commission 

finds that the proposed rule change is 

consistent with the requirements of the 

Act and the rules and regulations 

thereunder applicable to a national 

securities exchange. In particular, the 

Commission finds that the proposal is 

consistent with Section 6(b)(5) of the 

Act,15 which requires, among other 

things, that the rules of a national 

securities exchange be designed to 

prevent fraudulent and manipulative 

acts and practices, 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.16

The Commission believes that the 

proposed rule change provides greater 

harmonization between NYSE Rules and 

FINRA Rules (including Common Rules) 

of similar purpose, resulting in less 

burdensome and more efficient 

regulatory compliance for NYSE 

members, including Dual Members. In 

addition, the Commission believes that 

retroactive application of the proposed 

rule change to December 14, 2009 is 

appropriate to assure that there are no 

regulatory gaps between FINRA and 

NYSE Rules, and that, as applicable, the 

NYSE Rules would maintain their status 

as Common Rules under the Agreement. 


jlentini on DSKJ8SOYB1PROD with NOTICES
25904 Federal Register / Vol. 75, No. 89 / Monday, May 10, 2010 / Notices 

17 15 U.S.C. 78s(b)(2). 

18 17 CFR 200.30–3(a)(12). 

IV. Conclusion 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,17 that the 

proposed rule change (SR–NYSE–2010– 

23) be, and hereby is, approved. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.18

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–10953 Filed 5–7–10; 8:45 am] 

BILLING CODE 8010–01–P 

SOCIAL SECURITY ADMINISTRATION 

Privacy Act of 1974; as Amended; 

Proposed Alteration to an Existing 

Privacy Act System of Records, 

Housekeeping Changes, and New 

Routine Uses 

AGENCY: Social Security Administration 

(SSA). 

ACTION: Altered system of records, 

housekeeping changes, and routine 

uses. 

SUMMARY: In accordance with the 

Privacy Act (5 U.S.C. 552a(e)(4) and 

(e)(11)) we are issuing public notice of 

our intent to alter an existing system of 

records, make housekeeping and other 

miscellaneous changes, and add routine 

uses applicable to our system of records 

entitled the Representative 

Disqualification/Suspension 

Information System (60–0219), 

hereinafter referred to as the 

Representative Disqualification, 

Suspension, and Non-Recognition 

Information File. 

We propose the following changes: 

• Expand the existing category of 

representatives covered by the 

Representative Disqualification, 

Suspension, and Non-Recognition 

Information File system of records to 

include persons who allegedly fail to 

meet our qualifications to serve as a 

claimant’s representative. 

• Expand the category of records we 

maintain in the system to include the 

name, Social Security number (SSN), 

date of birth, address, and other relevant 

information about persons who want to 

serve as representatives for our 

claimants. The expanded category will 

also include information about 

representatives, such as the 

representative’s date of birth, SSN, 

representative identification number, 

telephone and facsimile (fax) numbers, 

and e-mail address. 

We will also include the type of 

representative (e.g., attorney, nonattorney, eligible direct pay nonattorney), attorney status (e.g., 

suspended, disqualified, convicted of a 

violation), bar, court, and Federal 

agency program admission information 

(e.g., year admitted, license number, 

present standing, and disciplinary 

history), and employer identification 

number. 

• Expand the record storage medium 

to house records in paper and electronic 

form. 

• Change the system of records name 

from the Representative 

Disqualification/Suspension 

Information System to the 

Representative Disqualification, 

Suspension, and Non-Recognition 

Information File to more accurately 

reflect the persons and representatives 

covered by the system of records. 

• Add new routine uses 2–4, 6, and 

8–10 to allow us to release information 

about persons who allegedly fail to meet 

our qualifications to serve as a 

claimant’s representative, 

representatives whom we have 

disqualified or suspended from 

representing claimants and beneficiaries 

before us, and pursue the investigation 

of, and litigation against, representatives 

alleged to have violated the provisions 

of the Social Security Act or our 

regulations. We are also adding our data 

protection routine use to the system of 

records. The routine use, listed as 

number 12 in this system of records, 

will allow us to respond to incidents 

involving the unintentional release of 

our records. 

• Make edits throughout the 

document to ensure a more readerfriendly document and correct 

miscellaneous and stylistic format 

errors. 

We discuss the system of records, 

housekeeping changes, and new routine 

uses in the Supplementary Information 

section below. We invite public 

comments on this proposal. 

DATES: We filed a report of the 

Representative Disqualification, 

Suspension, and Non-Recognition 

Information File system of records and 

new routine use disclosures with the 

Chairman of the Senate Committee on 

Homeland Security and Governmental 

Affairs, the Chairman of the House 

Committee on Oversight and 

Government Reform, and the Director, 

Office of Information and Regulatory 

Affairs, Office of Management and 

Budget (OMB), on April 29, 2010. The 

altered Representative Disqualification, 

Suspension, and Non-Recognition 

Information File system of records and 

new routine uses will become effective 

on June 7, 2010, unless we receive 

comments before that date that would 

result in a contrary determination. 

ADDRESSES: Interested persons may 

comment on this publication by writing 

to the Executive Director, Office of 

Privacy and Disclosure, Office of the 

General Counsel, Social Security 

Administration, Room 3–A–6 

Operations Building, 6401 Security 

Boulevard, Baltimore, Maryland 21235– 

6401. All comments we receive will be 

available for public inspection at the 

above address. 

FOR FURTHER INFORMATION CONTACT: 

Christine W. Johnson, Social Insurance 

Specialist (Senior Analyst), Disclosure 

Policy Development and Services 

Division I, Office of Privacy and 

Disclosure, Office of the General 

Counsel, Social Security 

Administration, 3–A–6 Operations 

Building, 6401 Security Boulevard, 

Baltimore, Maryland 21235–6401, 

telephone: (410) 965–8563 or e-mail: 

chris.w.johnson@ssa.gov. 

SUPPLEMENTARY INFORMATION: 

I. Background and Purpose of the 

Representative Disqualification, 

Suspension, and Non-Recognition 

Information File System of Records 

A. General Background 

The Representative Disqualification, 

Suspension, and Non-Recognition 

Information File system of records 

allows us to collect, maintain, and use 

information about persons who fail to 

meet our qualifications to serve as 

representatives for our claimants and 

beneficiaries, representatives about 

whom we have received complaints 

alleging that they have violated the 

provisions of the Social Security Act or 

regulations, and representatives who we 

have disqualified or suspended from 

representing claimants and beneficiaries 

in matters before us. 

We require the information covered 

by this system of records to efficiently 

administer the disqualified or 

suspended representative business 

process. For example, the information 

enables us to identify and monitor 

persons who fail to meet the criteria to 

represent our claimants and 

beneficiaries, determine whether a 

violation has occurred, investigate 

alleged violations, and administratively 

prosecute disciplinary actions against 

representatives, in a more efficient and 

timely manner. 

B. Discussion of Representative 

Disqualification, Suspension, and NonRecognition Information File System of 

Records 

The proposed alteration will 

significantly strengthen the disqualified 


jlentini on DSKJ8SOYB1PROD with NOTICES