55570 Federal Register / Vol. 73, No. 187 / Thursday, September 25, 2008 / Notices 

1Each Participant executed the proposed 

amendment. The Participants are the American 

Stock Exchange LLC; Boston Stock Exchange, Inc.; 

Chicago Board Options Exchange, Incorporated; 

Chicago Stock Exchange, Inc.; Financial Industry 

Regulatory Authority, Inc., International Securities 

Exchange, LLC; The NASDAQ Stock Market LLC 

(‘‘NASDAQ’’); National Stock Exchange, Inc.; New 

York Stock Exchange LLC; NYSE Arca, Inc.; and 

Philadelphia Stock Exchange, Inc. 

2 17 CFR 240.608. 

3 15 U.S.C. 78k–1. 

4See Securities Exchange Act Release Nos. 10787 

(May 10, 1974), 39 FR 17799 (order approving CTA 

Plan); 15009 (July 28, 1978), 43 FR 34851 (August 

7, 1978) (order temporarily approving CQ Plan); and 

16518 (January 22, 1980), 45 FR 6521 (order 

permanently approving CQ Plan). The most recent 

restatement of both Plans was in 1995. The CTA 

Plan, pursuant to which markets collect and 

disseminate last sale price information for nonNASDAQ listed securities, is a ‘‘transaction 

reporting plan’’ under Rule 601 under the Act, 17 

CFR 242.601, and a ‘‘national market system plan’’ 

under Rule 608 under the Act, 17 CFR 242.608. The 

CQ Plan, pursuant to which markets collect and 

disseminate bid/ask quotation information for listed 

securities, is a ‘‘national market system plan’’ under 

Rule 608 under the Act, 17 CFR 242.608. 

5See Securities Exchange Act Release No. 51808 

(June 9, 2005), 70 FR 37496 (June 29, 2005). 

6See Securities Exchange Act Release No. 58358 

(August 13, 2008), 73 FR 49225 (‘‘Notice’’). 

7Some Plan amendments do not require a 

unanimous vote; therefore not every Participant 

would have to execute the amendment. 

8The Commission notes that the vote of the 

Participants would concern the exact wording of 

conforming language, but not the change 

implemented by the Commission. 

9See supra note 5. 

10The Commission has considered the proposed 

amendments’ impact on efficiency, competition, 

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

11 15 U.S.C. 78k–1(a)(1). 

12 17 CFR 240.608. 

Fund’s assets; (c) when appropriate, 

allocate and reallocate a Fund’s assets 

among multiple Subadvisers; (d) 

monitor and evaluate the performance 

of Subadvisers; and (e) implement 

procedures reasonably designed to 

ensure that the Subadvisers comply 

with each Fund’s investment objective, 

policies and restrictions. 

11. No trustee or officer of the Trust, 

or director or officer of the Adviser, will 

own directly or indirectly (other than 

through a pooled investment vehicle 

that is not controlled by such person) 

any interest in a Subadviser, except for: 

(a) Ownership of interests in the 

Adviser or any entity that controls, is 

controlled by, or is under common 

control with the Adviser; or (b) 

ownership of less than 1% of the 

outstanding securities of any class of 

equity or debt of a publicly traded 

company that is either a Subadviser or 

an entity that controls, is controlled by, 

or is under common control with a 

Subadviser. 

12. Each Fund will disclose in its 

registration statement the Aggregate Fee 

Disclosure. 

13. 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. 

J. Lynn Taylor, 

Assistant Secretary. 

[FR Doc. E8–22507 Filed 9–24–08; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–58585; File No. SR–CTA/ 

CQ–2008–02] 

Consolidated Tape Association; Order 

Approving the Twelfth Substantive 

Amendment to the Second 

Restatement of the Consolidated Tape 

Association Plan and the Eighth 

Substantive Amendment to the 

Restated Consolidated Quotation Plan 

September 18, 2008. 

I. Introduction 

On June 19, 2008, the Consolidated 

Tape Association (‘‘CTA’’) Plan and 

Consolidated Quotation (‘‘CQ’’) Plan 

participants (‘‘Participants’’) 1 filed with 

the Securities and Exchange 

Commission (‘‘Commission’’) pursuant 

to Rule 608 2 under the Securities 

Exchange Act of 1934 (‘‘Act’’) 3 a 

proposal to amend the CTA and CQ 

Plans (collectively, the ‘‘Plans’’) 4 to: (1) 

Permit ministerial amendments to the 

Plans to be submitted to the 

Commission under the signature of the 

Chairman of CTA/CQ Operating 

Committee, rather than by means of 

each Participant’s execution of a Plan 

amendment; (2) accommodate recent 

changes to the names and addresses of 

certain Participants; and (3) change the 

Plans’ references to Commission rules to 

reflect the re-designation of rules by 

Regulation NMS 5 (‘‘Amendments’’). 

The proposed Amendments were 

published for comment in the Federal 

Register on August 20, 2008.6 No 

comment letters were received in 

response to the Notice. This order 

approves the Amendments. 

II. Description of the Proposal 

Currently, both Plans require each 

Participant to execute most 

amendments 7 to the Plans before the 

amendments can be filed with the 

Commission. The Participants propose 

to amend the Plans to permit the 

submission to the Commission of 

ministerial amendments to the Plans 

under the signature of the Chairman of 

the CTA/CQ Operating Committee, in 

lieu of requiring each Participant’s 

signature indicating that it has executed 

the amendment as required by Section 

IV(b) of the CTA Plan and Section IV(c) 

of the CQ Plan. 

The categories of ministerial Plan 

amendments that the Participants may 

submit under the signature of the 

Chairman include amendments to the 

Plans that pertain solely to one or more 

of the following: 

(1) Admitting a new Participant into 

the Plans; 

(2) Changing the name or address of 

a Participant; 

(3) Incorporating a change that the 

Commission has implemented by rule 

and that requires no conforming 

language to the text of the Plans (e.g., 

the Commission rule establishing the 

Advisory Committee); 

(4) Incorporating a change (i) that the 

Commission has implemented by rule, 

(ii) that requires conforming language to 

the text of the Plans (e.g., the 

Commission rule amending the revenue 

allocation formula), and (iii) that a 

majority of all Participants has voted to 

approve; 8

(5) Incorporating a purely technical 

change, such as correcting an error or an 

inaccurate reference to a statutory 

provision, or removing language that 

has become obsolete (e.g., language 

regarding the Intermarket Trading 

System Plan). 

In addition, the Participants propose 

to amend the Plans to reflect changes in 

the corporate names of the Chicago 

Board Options Exchange, Incorporated 

(formerly, Chicago Board Options 

Exchange, Inc.) (‘‘CBOE’’), the Financial 

Industry Regulatory Authority, Inc. 

(formerly, the National Association of 

Securities Dealers, Inc.), and National 

Securities Exchange, Inc. (formerly, 

National Securities Exchange), as well 

as changes in the street address of 

CBOE. 

The Participants further propose to 

change references in the Plans to 

Commission rules to reflect the redesignation of certain Commission rules 

as a result of Regulation NMS.9

III. Discussion 

After careful review, the Commission 

finds that the Amendments to the Plans 

are consistent with the requirements of 

the Act and the rules and regulations 

thereunder,10 and, in particular, Section 

11A(a)(1) of the Act 11 and Rule 608 

thereunder 12 in that they are necessary 

or appropriate in the public interest, for 

the protection of investors and the 

maintenance of fair and orderly markets, 

to remove impediments to, and perfect 

the mechanisms of, a national market 

mstockstill on PROD1PC66 with NOTICES

Federal Register / Vol. 73, No. 187 / Thursday, September 25, 2008 / Notices 55571 

13 15 U.S.C. 78k–1. 

14 17 CFR 240.608. 

15 17 CFR 200.30–3(a)(27). 

system. The Commission finds that 

permitting the Chairman of the CTA/CQ 

Operating Committee to submit 

ministerial amendments will increase 

the efficiency of the administration of 

the Plans and increase the timeliness of 

updating the Plans for accuracy. 

Additionally, the Commission finds that 

the proposed Amendments streamlining 

the process for admitting new 

Participants remove impediments to 

competition by facilitating the timely 

admission of a new Participant to the 

Plans. 

IV. Conclusion 

It is therefore ordered, pursuant to 

Section 11A of the Act,13 and Rule 608 

thereunder,14 that the proposed 

amendments to the CTA and CQ Plans 

(SR–CTA/CQ–2008–02) are approved. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.15

J. Lynn Taylor, 

Assistant Secretary. 

[FR Doc. E8–22489 Filed 9–24–08; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meeting 

FEDERAL REGISTER CITATION OF PREVIOUS

ANNOUNCEMENT: [73 FR 54644, 

September 22, 2008] 

STATUS: Closed Meeting. 

PLACE: 100 F Street, NE., Washington, 

DC. 

DATE AND TIME OF PREVIOUSLY ANNOUNCED

MEETING: Tuesday, September 23, 2008 

at 10 a.m. 

CHANGE IN THE MEETING: Date Change. 

The Closed Meeting scheduled for 

Tuesday, September 23, 2008 at 10 a.m., 

has been changed to Wednesday, 

September 24, 2008 at 10 a.m. 

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 22, 2008. 

Florence E. Harmon, 

Acting Secretary. 

[FR Doc. E8–22546 Filed 9–24–08; 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 Monday, September 29, 2008 at 2 

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)(5), (7), 9(B) and (10) and 

17 CFR 200.402(a)(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 Monday, 

September 29, 2008 will be: 

Formal orders of investigation; 

Institution and settlement of 

injunctive actions; 

Institution and settlement of 

administrative proceedings of an 

enforcement nature; 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 22, 2008. 

Florence E. Harmon, 

Acting Secretary. 

[FR Doc. E8–22644 Filed 9–24–08; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 58612] 

Order Granting Temporary, Conditional 

Relief From the Net Capital Rule for 

Barclays Capital, Inc. 

September 22, 2008. 

Barclays Capital, Inc. (‘‘Barclays 

Capital’’) is a broker-dealer registered 

with the Securities and Exchange 

Commission (‘‘Commission’’). Barclays 

Capital’s ultimate holding company is 

Barclays Group (‘‘Barclays Group’’), 

which is supervised by the United 

Kingdom Financial Services Authority. 

Barclays Group, through Barclays 

Capital, has entered into an agreement 

to purchase substantially all of the 

assets, businesses and personnel of 

Lehman Brothers Inc. (‘‘Lehman’’). 

On November 9, 2005, the 

Commission issued an Order approving 

Lehman’s application to use the 

alternative method of computing net 

capital contained in Appendix E 

(‘‘Appendix E’’) to Rule 15c3–1 (17 CFR 

240.15c3–1e) under the Securities 

Exchange Act of 1934 (‘‘Exchange Act’’). 

In a September 19, 2008 letter to the 

Commission, Barclays Capital and 

Barclays Group applied to the 

Commission for an exemption that 

would permit Barclays Capital, as 

successor to a substantial portion of 

Lehman’s assets and liabilities, to 

continue to use for a temporary period 

the alternative method of computing net 

capital contained in Appendix E solely 

when computing capital charges for the 

positions it acquires from Lehman. 

Pursuant to paragraph (b)(3) of Rule 

15c3–1, the Commission may, upon 

written application, exempt from the 

provisions of Rule 15c3–1, either 

unconditionally or on specified terms 

and conditions, any broker or dealer 

who satisfies the Commission that, 

because of the special nature of its 

business, its financial position, and the 

safeguards it has established for the 

protection of customers’ funds and 

securities, it is not necessary in the 

public interest or for the protection of 

investors to subject the particular broker 

or dealer to the provisions of Rule 15c3– 

1. 

In its letter, Barclays Capital and 

Barclays Group have represented to the 

Commission that until such time as the 

Commission acts on Barclays Capital’s 

application to use the alternate net 

capital treatment and supervision on a 

consolidated basis, Barclays Capital 

will: 

(1) File a draft application promptly, 

and cooperate and file with the 

Commission a plan to complete all 

requirements of such application 

process (including a timeline) and file a 

completed application in accordance 

with Appendix E to Exchange Act Rule 

15c3–1 within 180 days of the 

bankruptcy court’s approval of Barclays’ 

acquisition of Lehman’s assets. In the 

event Barclays Capital will not be able 

to file a completed application with 

respect to the various provisions related 

to VaR Models, Barclays Capital will 

promptly inform the Commission of 

such; and 

mstockstill on PROD1PC66 with NOTICES