Federal Register / Vol. 75, No. 188 / Wednesday, September 29, 2010 / Notices 60155 

11 15 U.S.C. 78s(b)(3)(A). 

12 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6)(iii) requires the self-regulatory organization 

to submit to the Commission written notice of its 

intent to file the proposed rule change, along with 

a brief description and text of the proposed rule 

change, at least five business days prior to the date 

of filing of the proposed rule change, or such 

shorter time as designated by the Commission. The 

Exchange has satisfied this requirement. 

13 17 CFR 200.30–3(a)(12). 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4See Securities Exchange Act Release No. 61979 

(April 23, 2010), 75 FR 23316 (May 3, 2010) (order 

approving SR–FINRA–2010–003). 

5See 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 

Continued 

Act 11 and Rule 19b–4(f)(6) 

thereunder.12

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission summarily may 

temporarily suspend 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–NYSE–2010–68 on the 

subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Elizabeth M. Murphy, Secretary, 

Securities and Exchange Commission, 

100 F Street, NE., Washington, DC 

20549–1090. 

All submissions should refer to File 

Number SR–NYSE–2010–68. 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 Web site viewing and 

printing in the Commission’s Public 

Reference Room on official business 

days between the hours of 10 a.m. and 

3 p.m. Copies of such 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 SR–NYSE–2010–68 and should 

be submitted on or before October 20, 

2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–24449 Filed 9–28–10; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–62987; File No. SR– 

NYSEAmex–2010–92] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change by NYSE 

Amex LLC Amending Rule 4560— 

NYSE Amex Equities To Correspond 

With a Rule Change Filed by the 

Financial Industry Regulatory 

Authority, Inc. 

September 24, 2010. 

Pursuant to Section 19(b)(1)1 of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’) 2 and Rule 19b–4 thereunder,3

notice is hereby given that on 

September 13, 2010, NYSE Amex LLC 

(the ‘‘Exchange’’ or ‘‘NYSE Amex’’) filed 

with the Securities and Exchange 

Commission (the ‘‘Commission’’) the 

proposed rule change as described in 

Items I and II below, which Items have 

been prepared by the self-regulatory 

organization. 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 amend 

Rule 4560—NYSE Amex Equities to 

correspond with a rule change filed by 

the Financial Industry Regulatory 

Authority, Inc. (‘‘FINRA’’) and approved 

by the Commission.4 The text of the 

proposed rule change is available at the 

Exchange, www.nyse.com, the 

Commission’s Public Reference Room, 

and on the Commission’s Web site at 

www.sec.gov. 

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 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The purpose of the proposed rule 

change is to amend Rule 4560—NYSE 

Amex Equities (Short-Interest 

Reporting) to correspond with a rule 

change filed by FINRA and approved by 

the Commission. 

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, the New York 

Stock Exchange LLC (‘‘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’’). The 

Exchange became a party to the 

Agreement effective December 15, 

2008.5


erowe on DSK5CLS3C1PROD with NOTICES
60156 Federal Register / Vol. 75, No. 188 / Wednesday, September 29, 2010 / Notices 

proposed changes by FINRA, NYSE or NYSE Amex 

to the substance of any of the Common Rules. 

6FINRA’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. 

7See Securities Exchange Act Release No. 59975 

(May 26, 2009), 74 FR 26449 (June 2, 2009) (order 

approving NYSEAmex 2009–26). 

8See Securities Exchange Act Release No. 61979 

(April 23, 2010), 75 FR 23316 (May 3, 2010). 

9 15 U.S.C. 78f(b). 

10 15 U.S.C. 78f(b)(5). 

11 15 U.S.C. 78s(b)(3)(A). 

12 17 CFR 240.19b–4(f)(6). In addition, Rule 19b4(f)(6)(iii) requires the self-regulatory organization 

to submit to the Commission written notice of its 

intent to file the proposed rule change, along with 

a brief description and text of the proposed rule 

change, at least five business days prior to the date 

of filing of the proposed rule change, or such 

shorter time as designated by the Commission. The 

Exchange has satisfied this requirement. 

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.6

Current Rule 4560—NYSE Amex 

Equities 

The Exchange adopted Rule 4560— 

NYSE Amex Equities in May 2009.7

Rule 4560—NYSE Amex Equities 

requires each member organization to 

maintain a record of the total short 

positions in its customer and 

proprietary accounts in securities listed 

on a national securities exchange and 

that such information must be reported 

to FINRA. Rule 4560—NYSE Amex 

Equities is based on, and is substantially 

the same as, FINRA Rule 4560 (ShortInterest Reporting). The principal 

distinction between the two rules is 

that, as adopted by the Exchange, Rule 

4560—NYSE Amex Equities does not 

apply to OTC Equity Securities (as 

defined in FINRA Rule 6420) since the 

Exchange does not trade OTC Equity 

Securities. 

Proposed Conforming Amendments to 

Rule 4560—NYSE Amex Equities 

In April 2010, FINRA amended 

FINRA Rule 4560 to provide, in part, 

that it applies to all equity securities 

(other than Restricted Equity Securities 

as defined in FINRA Rule 6420) and not 

just to OTC Equity Securities or 

securities listed on a national securities 

exchange.8 The Exchange proposes to 

amend Rule 4560—NYSE Amex 

Equities, as applicable, to conform with 

FINRA’s amendments to FINRA Rule 

4560 so that Rule 4560—NYSE Amex 

Equities applies to all equity securities 

(other than Restricted Equity Securities 

as defined in FINRA Rule 6420). 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) of the Act,9 in general, and 

furthers the objectives of Section 6(b)(5) 

of the Act,10 in particular, in that it is 

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. 

The Exchange believes that the 

proposed rule change supports the 

objectives of the Act by providing 

greater harmonization between NYSE 

Amex Equities Rules and FINRA Rules 

of similar purpose, resulting in less 

burdensome and more efficient 

regulatory compliance for joint 

members. To the extent the Exchange 

has proposed changes that differ from 

the FINRA version of the Rule, such 

changes are technical in nature and do 

not change the substance of the 

proposed NYSE Amex Equities Rule. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will impose 

any burden on competition that is not 

necessary or appropriate in furtherance 

of the 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. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing proposed rule 

change does not: 

(i) Significantly affect the protection 

of investors or the public interest; 

(ii) impose any significant burden on 

competition; and 

(iii) become operative for 30 days 

from the date on which it was filed, or 

such shorter time as the Commission 

may designate, if consistent with the 

protection of investors and the public 

interest, it has become effective 

pursuant to Section 19(b)(3)(A) of the 

Act 11 and Rule 19b–4(f)(6) 

thereunder.12

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission summarily may 

temporarily suspend 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–NYSEAmex–2010–92 on 

the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Elizabeth M. Murphy, Secretary, 

Securities and Exchange Commission, 

100 F Street, NE., Washington, DC 

20549–1090. 

All submissions should refer to File 

Number SR–NYSEAmex-2010–92. 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 Web site viewing and 

printing in the Commission’s Public 

Reference Room on official business 

days between the hours of 10 a.m. and 

3 p.m. Copies of such 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 


erowe on DSK5CLS3C1PROD with NOTICES
Federal Register / Vol. 75, No. 188 / Wednesday, September 29, 2010 / Notices 60157 

13 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3 17 CFR 240.19b–4(f)(6). 

4The current FINRA rulebook consists of (1) 

FINRA Rules; (2) NASD Rules; and (3) rules 

incorporated from NYSE (‘‘Incorporated NYSE 

Rules’’) (together, the NASD Rules and Incorporated 

NYSE Rules are referred to as the ‘‘Transitional 

Rulebook’’). While the NASD Rules generally apply 

to all FINRA members, the Incorporated NYSE 

Rules apply only to those members of FINRA that 

are also members of the NYSE (‘‘Dual Members’’). 

The FINRA Rules apply to all FINRA members, 

unless such rules have a more limited application 

by their terms. For more information about the 

rulebook consolidation process, see Information 

Notice, March 12, 2008 (Rulebook Consolidation 

Process). 

5See Securities Exchange Act Release No. 62533 

(July 20, 2010), 75 FR 43588 (July 26, 2010) (Order 

Approving File No. SR–FINRA–2010–028). 

6See Securities Exchange Act Release No. 59057 

(December 12, 2008), 73 FR 78412 (December 22, 

2008) (Notice of Filing and Immediate Effectiveness 

of File No. SR–FINRA–2008–057). 

7See Regulatory Notice 10–35 (August 2010). 

8 15 U.S.C. 78o–3(b)(6). 

information from submissions. You 

should submit only information that 

you wish to make available publicly. All 

submissions should refer to File 

Number SR–NYSEAmex–2010–92 and 

should be submitted on or before 

October 20, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–24448 Filed 9–28–10; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–62983; File No. SR–FINRA– 

2010–047] 

Self-Regulatory Organizations; 

Financial Industry Regulatory 

Authority, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Update Rule CrossReferences and Make Non-Substantive 

Technical Changes to Certain FINRA 

Rules 

September 23, 2010. 

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 

September 13, 2010, Financial Industry 

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

filed with the Securities and Exchange 

Commission (‘‘SEC’’ or ‘‘Commission’’) 

the proposed rule change as described 

in Items I and II below, which Items 

have been prepared by FINRA. FINRA 

has designated the proposed rule change 

as constituting a ‘‘non-controversial’’ 

rule change under paragraph (f)(6) of 

Rule 19b–4 under the Act,3 which 

renders the proposal effective upon 

receipt of this filing by the Commission. 

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 

FINRA is proposing to update crossreferences within certain FINRA rules to 

reflect changes adopted in the 

consolidated FINRA rulebook and to 

make non-substantive technical changes 

to certain FINRA Rules. 

The text of the proposed rule change 

is available on FINRA’s Web site at 

http://www.finra.org, at the principal 

office of FINRA 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, 

FINRA 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. FINRA 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 

1. Purpose 

FINRA is in the process of developing 

a new consolidated rulebook 

(‘‘Consolidated FINRA Rulebook’’).4

That process involves FINRA submitting 

to the Commission for approval a series 

of proposed rule changes over time to 

adopt rules in the Consolidated FINRA 

Rulebook. The phased adoption and 

implementation of those rules 

necessitates periodic amendments to 

update rule cross-references and other 

non-substantive technical changes in 

the Consolidated FINRA Rulebook. 

The proposed rule change would 

update rule cross-references to reflect 

recent changes adopted in the 

Consolidated FINRA Rulebook. In this 

regard, the proposed rule change would 

update references in FINRA Rules 6630 

and 9610 to reflect the adoption into the 

Consolidated FINRA Rulebook of 

FINRA Rule 4320 and the deletion of 

NASD Rule 3210.5

In addition, at the request of SEC staff, 

the proposed rule change would make 

technical amendments to FINRA Rules 

5110, 6432 and 6540. The proposed rule 

change would replace references to the 

SEC’s Interactive Data Electronic 

Applications (‘‘IDEA’’) with the term 

‘‘Electronic Data Gathering, Analysis, 

and Retrieval (‘EDGAR’).’’ 

Finally, the proposed rule change 

would correct an inaccurate crossreference in FINRA Rule 9810. In 2008, 

in connection with updating crossreferences in that rule, FINRA 

inadvertently replaced a reference to 

NASD Rule 2110 with FINRA Rule 2020 

rather than FINRA Rule 2010.6 The 

proposed rule change would correct that 

technical error. 

FINRA has filed the proposed rule 

change for immediate effectiveness. The 

implementation date for the proposed 

rule change will be October 15, 2010, 

the date on which the previously 

approved rule change regarding FINRA 

Rule 4320 will be implemented.7

2. Statutory Basis 

FINRA believes that the proposed rule 

change is consistent with the provisions 

of Section 15A(b)(6) of the Act,8 which 

requires, among other things, that 

FINRA rules must be designed to 

prevent fraudulent and manipulative 

acts and practices, to promote just and 

equitable principles of trade, and, in 

general, to protect investors and the 

public interest. FINRA believes the 

proposed rule change will provide 

greater clarity to members and the 

public regarding FINRA’s rules. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

FINRA does not believe that the 

proposed rule change will result in any 

burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

Written comments were neither 

solicited nor received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing proposed rule 

change does not: (i) Significantly affect 

the protection of investors or the public 

interest; (ii) impose any significant 

burden on competition; and (iii) become 

operative for 30 days from the date on 

which it was filed, or such shorter time 

as the Commission may designate, it has 


erowe on DSK5CLS3C1PROD with NOTICES