Federal Register / Vol. 73, No. 175 / Tuesday, September 9, 2008 / Notices 52433 

1See Letter from Edith H. Hallahan, Esq., Senior 

Vice President and Deputy General Counsel, Phlx, 

to Nancy M. Morris, Secretary, Commission, dated 

June 26, 2007. 

2 17 CFR 240.0–12. 

3 15 U.S.C. 78mm(a)(1). 

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

5See Exchange Act Release 58340, 73 FR 48268 

(August 18, 2008). 

6Exchange Act Release No. 58340 (August 11, 

2008); see also Exchange Act Release No. 58045 

(June 26, 2008), 73 FR 38487 (July 7, 2008) (SRPhlx–2007–33). 

7See 17 CFR 240.0–12. 

8See Letter from Edith H. Hallahan, Esq., Senior 

Vice President and Deputy General Counsel, Phlx, 

to Nancy M. Morris, Secretary, Commission, dated 

June 26, 2007. 

9 15 U.S.C. 78mm. 

10Exchange Act Release No. 49260 (February 17, 

2004), 69 FR 8500 (February 24, 2004). 

utility; (b) the accuracy of the RRB’s 

estimate of the burden of the collection 

of the information; (c) ways to enhance 

the quality, utility, and clarity of the 

information to be collected; and (d) 

ways to minimize the burden related to 

the collection of information on 

respondents, including the use of 

automated collection techniques or 

other forms of information technology. 

Title and Purpose of Information 

Collection 

Appeal Under the Railroad 

Retirement and Railroad Unemployment 

Insurance Act; OMB 3220–0007 Under 

Section 7(b)(3) of the Railroad 

Retirement Act (RRA), and section 5(c) 

of the Railroad Unemployment 

Insurance Act (RUIA) any person 

aggrieved by a decision on his or her 

application for an annuity or benefit 

under that Act has the right to appeal to 

the RRB. This right is prescribed in 20 

CFR part 260 and 20 CFR part 320. The 

notification letter sent to the individual 

at the time of the original action on the 

application informs the applicant of 

such right. When an individual protests 

a decision, the concerned bureau 

reviews the entire file and any 

additional evidence submitted and 

sends the applicant a letter explaining 

the basis of the determination. The 

applicant is then notified that if he or 

she wishes to protest further, they can 

appeal to the RRB’s Bureau of Hearings 

and Appeals. The procedure pertaining 

to the filing of such an appeal is 

prescribed in 20 CFR 260.5 and 260.9 

and 20 CFR 320.12 and 320.38. 

The form prescribed by the RRB for 

filing an appeal under the RRA or RUIA 

is form HA–1, Appeal Under the 

Railroad Retirement Act or Railroad 

Unemployment Insurance Act. The form 

asks the applicant to furnish the basis 

for the appeal and what additional 

evidence, if any, is to be submitted. 

Completion is voluntary, however if the 

information is not provided the RRB 

cannot process the appeal. 

The RRB proposes to remove items 

from Form HA–1 that request the 

appellant to provide their social security 

number or RRB Claim number. No other 

changes are proposed. The completion 

time for the HA–1 is estimated at 20 

minutes per response. The RRB 

estimates that approximately 650 Form 

HA–1’s are completed annually. Annual 

burden for the collection is estimated at 

217 hours. 

Additional Information or Comments: 

To request more information or to 

obtain a copy of the information 

collection justification, forms, and/or 

supporting material, please call the RRB 

Clearance Officer at (312) 751–3363 or 

send an e-mail request to 

Charles.Mierzwa@RRB.GOV. Comments 

regarding the information collection 

should be addressed to Ronald J. 

Hodapp, Railroad Retirement Board, 844 

North Rush Street, Chicago, Illinois 

60611–2092 or send an e-mail to 

Ronald.Hodapp@RRB.GOV. Written 

comments should be received within 60 

days of this notice. 

Charles Mierzwa, 

Clearance Officer. 

[FR Doc. E8–20789 Filed 9–8–08; 8:45 am] 

BILLING CODE 7905–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Release No. 34–58454] 

Order Granting Application for 

Exemption Pursuant to Section 36(a) of 

the Exchange Act by the Philadelphia 

Stock Exchange, Inc. From the Rule 

Filing Requirements of Section 19(b) of 

the Exchange Act With Respect to 

Certain Rules Incorporated by 

Reference 

September 3, 2008. 

I. Introduction 

On June 27, 2007,1 the Philadelphia 

Stock Exchange, Inc., n/k/a NASDAQ 

OMX PHLX, Inc., (‘‘Phlx’’ or the 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission 

(‘‘Commission’’) pursuant to Rule 0–12 2

under the Securities Exchange Act of 

1934 (‘‘Exchange Act’’) an application 

for an exemption under Section 36(a)(1) 

of the Exchange Act 3 from the rule 

filing requirements of Section 19(b) of 

the Exchange Act 4 with respect to 

certain margin rules of other selfregulatory organizations (‘‘SROs’’) that 

the Exchange seeks to incorporate by 

reference. 

II. Application for Section 36 

Exemption From Section 19(b) Rule 

Filing Requirements for SRO Rules 

Incorporated by Reference 

On August 11, 2008, the Commission 

approved a proposed rule change—SRPhlx–2007–33—which, among other 

things, permits Phlx members to elect to 

be bound by the margin rules of either 

the New York Stock Exchange LLC 

(‘‘NYSE’’) or the Chicago Board Options 

Exchange, Incorporated (‘‘CBOE’’).5

More specifically, Phlx amended its 

Rule 721 to state a member organization 

must elect to be bound by the initial and 

maintenance margin requirements of 

either the NYSE or CBOE as the same 

may be in effect and amended from time 

to time.6 Phlx Rule 721 further states 

that upon the filing of such election, a 

Phlx member shall be bound to comply 

with the margin rules of the NYSE or 

CBOE, as applicable, as though said 

rules were part of Phlx’s margin rules. 

On June 26, 2007, Phlx submitted a 

formal request, pursuant to Rule 0–12 

under the Exchange Act,7 seeking an 

exemption under Section 36 of the 

Exchange Act from the rule filing 

procedures of Section 19(b) of the 

Exchange Act with respect to changes to 

the margin rules of either the NYSE or 

CBOE.8

III. Order Granting Section 36 

Exemption 

Section 36 of the Exchange Act 9

authorizes the Commission to 

conditionally or unconditionally 

exempt any person, security, or 

transaction, or any class thereof, from 

any provision of the Exchange Act or 

rule thereunder, if necessary or 

appropriate in the public interest and 

consistent with the protection of 

investors. The Commission believes that 

it is appropriate to issue exemptions, 

subject to the conditions described 

below, to allow SROs to incorporate by 

reference the rules of other SROs 

without being subject to the rule filing 

requirements of Section 19(b) of the 

Exchange Act whenever the SRO’s rules 

that are incorporated by reference 

change. Such exemptions promote 

efficient use of Commission and SRO 

resources by avoiding duplicative rule 

filings based on simultaneous changes 

to identical rule text sought by more 

than one SRO. 

The Commission will consider 

granting requests for exemption, 

pursuant to Section 36 of the Exchange 

Act, from the rule filing requirements 

imposed by Section 19(b) of the 

Exchange Act, provided that:10


jlentini on PROD1PC65 with NOTICES
52434 Federal Register / Vol. 73, No. 175 / Tuesday, September 9, 2008 / Notices 

11See 17 CFR 240.0–12 and Exchange Act Release 

No. 39624 (February 5, 1998), 63 FR 8101 (February 

18, 1998) (Commission Procedures for Filing 

Applications for Orders for Exemptive Relief 

Pursuant to Section 36 of the Exchange Act; Final 

Rule). 

12Exchange Act Release No. 49260 (February 17, 

2004), 69 FR 8500 (February 24, 2004). 

13See Exchange Act Release No. 49260 (February 

17, 2004), 69 FR 8500 (February 24, 2004). 

14See supra note 1. 

15 15 U.S.C. 78mm. 

16 17 CFR 200.30–3(a)(76). 

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 LLC 

Agreement. 

4The Montre ́al Exchange Inc. is also known in 

French as the Bourse de Montre ́al Inc. 

5See Securities Exchange Act Release No. 58324 

(August 7, 2008), 73 FR 46936 (August 12, 2008) 

(SR–BSE–2008–25). 

(1) An SRO wishing to incorporate 

rules of another SRO by reference has 

submitted a written request for an order 

exempting it from the requirement in 

Section 19(b) of the Exchange Act to file 

proposed rule changes relating to the 

rules incorporated by reference, has 

identified the applicable originating 

SROs, together with the rules it wants 

to incorporate by reference, and 

otherwise has complied with the 

procedural requirements set forth in the 

Commission’s release governing 

procedures for requesting exemptive 

orders pursuant to Rule 0–12 under the 

Exchange Act;11

(2) an incorporating SRO has 

requested incorporation of categories of 

rules (rather than individual rules 

within a category) that are not trading 

rules (e.g., the SRO has requested 

incorporation of rules such as margin, 

suitability, arbitration); and 

(3) the incorporating SRO has 

reasonable procedures in place to 

provide written notice to its members 

each time a change is proposed to the 

incorporated rules of another SRO. 

The Commission believes that it is 

appropriate to issue an exemption, 

subject to the conditions described 

above, to allow Phlx to incorporate by 

reference the margin rules of the NYSE 

or CBOE (by allowing its members to 

elect to be bound by the margin rules of 

either the NYSE or CBOE), without 

being subject to the rule filing 

requirements of Section 19(b) of the 

Exchange Act whenever the SRO’s 

margin rules that are incorporated by 

reference change. The Commission 

believes that this exemption will 

promote more efficient use of 

Commission and Phlx resources by 

avoiding duplicative rule filings based 

on simultaneous changes to identical 

rule text sought by more than one SRO. 

The Commission notes in granting this 

exemption, that Phlx by incorporating 

by reference another SRO’s margin rules 

would agree to be governed by the 

incorporated rules, as amended from 

time to time, but not be required to file 

a separate proposed rule change with 

the Commission each time either the 

NYSE or CBOE seeks to modify its 

margin rules. 

Phlx is requesting to incorporate by 

reference the whole category of the 

NYSE and CBOE margin rules (i.e., did 

not ‘‘cherry-pick’’ certain individual 

rules within a category), which are 

regulatory rules and not trading rules. 

The Commission also has previously 

approved the incorporation by reference 

of the NYSE and CBOE margin rules for 

the International Securities Exchange 

and the Boston Options Exchange.12 The 

Commission notes that the Exchange 

previously requested, and the 

Commission granted, a request by Phlx 

to incorporate by reference, the NASD 

Code of Arbitration Procedure, subject 

to certain conditions.13 Consistent with 

the conditions attendant to its prior 

exemptive request, the Exchange has 

agreed to continue to provide written 

notice to its members whenever the 

NYSE or CBOE proposes a change to its 

margin rules.14 This procedure will 

provide Phlx members with notice of a 

proposed rule change that affects their 

interests, so that they would have the 

opportunity to comment on it. 

For the reasons discussed above, the 

Commission finds that the exemption is 

necessary or appropriate in the public 

interest, and is consistent with the 

protection of investors. 

Accordingly, it is ordered, pursuant to 

Section 36 of the Exchange Act,15 that 

Phlx, with respect to the margin rules of 

the NYSE and CBOE that Phlx proposes 

to incorporate by reference as specified 

above, and subject to the conditions 

described above, shall be exempt from 

rule filing requirements of Section 19(b) 

of the Exchange Act to the extent that 

Section 19(b) would otherwise require 

submission of a proposed rule change 

filing with the Commission. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.16

Florence E. Harmon, 

Acting Secretary. 

[FR Doc. E8–20809 Filed 9–8–08; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–58445; File No. SR–BSE–

2008–43] 

Self-Regulatory Organizations; Boston 

Stock Exchange, Inc.; Notice of Filing 

and Immediate Effectiveness of 

Proposed Rule Change Regarding 

Transfer of Ownership of MX U.S. 2, 

Inc. 

August 29, 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 August 

28, 2008, the Boston Stock Exchange, 

Inc. (‘‘BSE’’ or ‘‘Exchange’’) filed with 

the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change as described in 

Items I and II below, which Items have 

been substantially prepared by the 

BSE.3 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 is submitting the 

proposed rule change to the 

Commission to amend the proposed 

Sixth Amended and Restated Operating 

Agreement (‘‘BOX LLC Agreement’’), of 

the Boston Options Exchange Group 

LLC (‘‘BOX LLC’’), in connection with 

the transfer by the Montre ́al Exchange 

Inc.,4 a company incorporated in 

Que ́bec, Canada (‘‘MX’’), of its 

ownership interest in MX U.S. 2, Inc., 

a U.S. subsidiary of MX (‘‘MX U.S. 2’’).5

The text of the proposed rule change is 

available at the Exchange, the 

Commission’s Public Reference Room, 

and http://www.bostonstock.com. 

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 

proposal. The text of these statements 


jlentini on PROD1PC65 with NOTICES