Federal Register / Vol. 73, No. 176 / Wednesday, September 10, 2008 / Notices 52709 

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)(6). 

5See Securities and Exchange Act Release No. 

34632 (September 2, 1994), 59 FR 46999 (September 

13, 1994) (SR–CBOE–94–10). 

6See Securities Exchange Act Release No. 34–

55970, 72 FR 36348 (July 3, 2007) (File No. S7–21–

06). 

described in the application. The 

prospectus will prominently disclose 

that the Advisor has ultimate 

responsibility (subject to oversight by 

the Boards) to oversee the Subadvisors 

and recommend their hiring, 

termination and replacement. 

7. No trustee or officer of a Company 

or officer or director of the Advisor will 

own directly or indirectly (other than 

through a pooled investment vehicle 

that is not controlled by that trustee, 

director or officer) any interest in a 

Subadvisor except for (i) ownership of 

interests in the Advisor or any entity 

that controls, is controlled by, or is 

under common control with the 

Advisor; or (ii) ownership of less than 

1% of the outstanding securities of any 

class of equity or debt of a publiclytraded company that is either a 

Subadvisor or an entity that controls, is 

controlled by or is under common 

control with a Subadvisor. 

8. Within 90 days of the hiring of any 

new Subadvisor, shareholders of the 

Fund will be furnished all information 

about the new Subadvisor that would be 

included in a proxy statement, 

including any change in shareholder 

disclosure caused by the addition of the 

new Subadvisor. To meet this condition, 

the Funds will provide shareholders 

with an information statement meeting 

the requirements of Regulation 14C, 

Schedule 14C, and Item 22 of Schedule 

14A under the Securities Exchange Act 

of 1934. 

9. The requested order will expire on 

the effective date of rule 15a–5 under 

the Act, if adopted. 

For the Commission, by the Division of 

Investment Management, under delegated 

authority. 

Florence E. Harmon, 

Acting Secretary. 

[FR Doc. E8–20960 Filed 9–9–08; 8:45 am] 

BILLING CODE 8010–01–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, September 11, 2008 at 1 

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 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. 

The subject matter of the Closed 

Meeting scheduled for Thursday, 

September 11, 2008 will be: 

Formal orders of investigation; 

Institution and settlement of injunctive 

actions; 

Institution and settlement of 

administrative proceedings of an 

enforcement nature; 

Amicus consideration; and 

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: September 4, 2008. 

Florence E. Harmon, 

Acting Secretary. 

[FR Doc. E8–20957 Filed 9–9–08; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–58455; File No. SR–CBOE–

2008–94] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Delete Obsolete CBOE 

Rule 15.10 

September 3, 2008. 

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 August 

29, 2008, the Chicago Board Options 

Exchange, Incorporated (‘‘Exchange’’ or 

‘‘CBOE’’) 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 

substantially prepared by the Exchange. 

The Exchange filed the proposal as a 

‘‘non-controversial’’ proposed rule 

change pursuant to Section 

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

19b–4(f)(6) 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 Exchange proposes to delete 

obsolete Rule 15.10, Reporting 

Requirements Applicable to Short Sales 

in Nasdaq National Market. The text of 

the rule proposal 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’s Public Reference Room. 

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. 

The Exchange has prepared summaries, 

set forth in sections A, B, and C below, 

of the most significant parts of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

CBOE Rule 15.10, Reporting 

Requirements Applicable to Short Sales 

in Nasdaq National Market, was 

adopted several years ago to coordinate 

CBOE’s rules with the NASD’s Rules of 

Fair Practice relating to a bid test 

applicable to short sales in National 

Market (‘‘NM’’) securities traded 

through Nasdaq.5 In 2007, the 

Commission adopted an amendment to 

eliminate Rule 10a–1 and to add Rule 

201 of Regulation SHO under the Act, 

to provide that no price test, including 

any price test of any self-regulatory 

organization (‘‘SRO’’), shall apply to 

short sales in any security.6 Rule 201 


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