Federal Register / Vol. 75, No. 204 / Friday, October 22, 2010 / Notices 65393 

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 62892 

(September 10, 2010), 75 FR 57090. 

4 In approving this 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). 

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

6 15 U.S.C. 78s(b)(2). 

7 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

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

4 17 CFR 240.19b–4(f)(6)(iii). 

19b–4 thereunder,2 a proposed rule 

change to amend Exchange Rule 652 

(‘‘Limitation of Exchange Liability and 

Reimbursement of Certain Expenses’’) to 

require member organizations on the 

Exchange’s trading floor to procure and 

maintain liability insurance. The 

proposed rule change was published for 

comment in the Federal Register on 

September 17, 2010.3 The Commission 

received no comments on the proposal. 

This order approves the proposed rule 

change. 

II. Description of the Proposal 

The Exchange proposes to require that 

member organizations located on the 

Exchange’s trading floor procure and 

maintain liability insurance by 

December 31, 2010. The insurance 

would provide defense and indemnity 

coverage for the member organization, 

any person associated with the member 

organization and the Exchange for any 

action or proceeding brought, or claim 

made, to impose liability upon the 

member organization, associated person 

or the Exchange which results from the 

member organization’s or associated 

person’s conduct. 

According to the Exchange, it does 

not intend this amendment to provide 

relief associated with financial loss 

related to buying and selling securities; 

the insurance coverage is intended to 

provide coverage to the Exchange for its 

sole, concurrent, or contributory 

negligence or other wrongdoing 

connected to a claim arising from the 

member organization’s or associated 

person’s conduct. The member 

organization would be required to 

maintain insurance with a limit that is 

not less than $1,000,000 without erosion 

by defense costs. Each member 

organization located on the trading floor 

would be required to provide a 

certificate of insurance to be issued 

directly to the Exchange demonstrating 

the insurance was procured and is 

maintained. The Exchange also 

proposes to expand the language in Rule 

652 to apply the rule to individuals of 

the Exchange, specifically officers, 

directors and employees. The Exchange 

believes that this change will clarify that 

individuals serving as officers, directors 

or employees are also the subject of Rule 

652. 

III. Discussion and Commission 

Findings 

After careful review, the Commission 

finds that the proposed rule change is 

consistent with the Act and the rules 

and regulations thereunder applicable to 

a national securities exchange.4 In 

particular, the Commission finds that 

the proposed rule change is consistent 

with Section 6(b)(5) of the Act,5 which 

requires, among other things, that the 

proposed rule change be designed 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 

Commission believes that the proposed 

rule change is a reasonable means of 

protecting the Exchange’s financial 

resources that are normally used to 

support the Exchange’s surveillance and 

self-regulatory responsibilities, rather 

than having this capital diverted to 

defending litigation claims. 

The Commission believes that 

requiring member organizations to 

obtain insurance coverage to protect the 

Exchange from claims resulting from 

their own conduct is not an undue 

burden. Furthermore, the Commission 

believes that the proposed rule change 

may conserve Exchange capital 

resources, and will provide additional 

coverage for member organizations since 

the member organizations are within the 

scope of the required insurance’s 

coverage. 

Finally, the Commission believes that 

amending Exchange Rule 652 to add 

officers, directors and employees in 

addition to the Exchange will remove 

any ambiguity or confusion by explicitly 

stating that the word ‘‘Exchange’’ as used 

in Rule 652 includes such individuals. 

IV. Conclusion 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act, 6 that the 

proposed rule change (SR–Phlx–2010– 

119) be, and it hereby is, approved. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.7

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–26676 Filed 10–21–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63122; File No. SR–BATS– 

2010–028] 

Self-Regulatory Organizations; BATS 

Exchange, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposal 

To Make Clean Up Changes by 

Amending Certain Rules 

October 18, 2010. 

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 October 

6, 2010, BATS Exchange, Inc. (the 

‘‘Exchange’’ or ‘‘BATS’’) 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 Exchange. The Exchange has 

designated this proposal as a ‘‘noncontroversial’’ proposed rule change 

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

Act 3 and Rule 19b–4(f)(6)(iii) 

thereunder,4 which renders it effective 

upon filing with 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 

The Exchange is proposing to amend 

BATS Rule 2.3 to clarify that a broker 

or dealer must be a member of another 

national securities exchange or 

association other than BATS Y– 

Exchange, Inc. (‘‘BYX’’) in order to 

become or remain a Member of the 

Exchange, to remove the text of Rule 2.4 

because the waive-in period for the 

Exchange has expired, and to make a 

technical correction to BATS Rule 14.5. 

The text of the proposed rule change is 

available at the Exchange’s Web site at 

http://www.batstrading.com, at the 

principal office of the Exchange, 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 

Exchange 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 


emcdonald on DSK2BSOYB1PROD with NOTICES
65394 Federal Register / Vol. 75, No. 204 / Friday, October 22, 2010 / Notices 

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

6 15 U.S.C. 78f(b)(5). 

7 15 U.S.C. 78s(b)(3)(A). 

8 17 CFR 240.19b–4(f)(6). 

9 17 CFR 240.19b–4(f)(6)(iii). 

10For purposes only of waiving the 30-day 

operative delay, the Commission has also 

considered the proposed rule’s impact on 

efficiency, competition, and capital formation. See 

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

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 Exchange proposes to amend 

BATS Rule 2.3 to clarify that a broker 

or dealer be a member of another 

national securities exchange or 

association other than or in addition to 

the Exchange’s affiliate, BYX, in order to 

become or remain a Member of the 

Exchange. The Exchange also proposes 

to remove the text of BATS Rule 2.4 

because the rule has become obsolete as 

the period for submission of a waive-in 

membership application has expired. 

Lastly, the Exchange proposes to make 

a technical correction to BATS Rule 

14.5(c) to replace a reference to 

‘‘Commodity-Based Trust Shares’’ with 

‘‘Currency Trust Shares’’. 

Amend Rule 2.3 To Reflect Existence of 

BATS Y–Exchange 

The Exchange requires all of its 

Members to be a member of at least one 

other national securities association or 

national securities exchange. The 

proposed change would make clear that 

this requirement is not satisfied simply 

by joining the Exchange’s affiliated 

exchange, BYX. Rather, as the proposed 

language indicates, each Member that is 

a registered broker or dealer must be a 

member of another registered national 

securities exchange or association other 

than or in addition to BYX. 

Deletion of Obsolete Rule—BATS Rule 

2.4 

As approved by the Commission as 

part of the Exchange’s Form 1 

application, BATS Rules include 

provisions that permitted current or 

former subscribers to the electronic 

communications network formerly 

operated by BATS Trading, Inc. to apply 

to become a Member of the Exchange by 

submitting a ‘‘waive-in application’’ 

within ninety (90) days of approval of 

the Form 1 by the Commission. The 

Commission approved the Exchange’s 

Form 1 application on August 18, 2008, 

meaning that waive-in membership 

applications must have been received by 

the Exchange on or prior to November 

16, 2008. Accordingly, BATS Rule 2.4 is 

obsolete, and thus, the Exchange 

proposes to delete such rule. 

Correct Improper Term in BATS Rule 

14.5(c) 

Lastly, the Exchange proposes to 

correct language in BATS Rule 14.5(c) to 

replace an incorrect reference to 

‘‘Commodity-Based Trust Shares’’ with 

‘‘Currency Trust Shares’’. 

2. Statutory Basis 

The rule change proposed in this 

submission is consistent with the 

requirements of the Act and the rules 

and regulations thereunder that are 

applicable to a national securities 

exchange, and, in particular, with the 

requirements of Section 6(b) of the Act.5

Specifically, the Exchange believes that 

the proposed changes are consistent 

with Section 6(b)(5) of the Act,6 because 

they would promote just and equitable 

principles of trade, remove 

impediments to, and perfect the 

mechanism of, a free and open market 

and a national market system, and, in 

general, protect investors and the public 

interest. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change imposes any 

burden on competition. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

The Exchange has neither solicited 

nor received written comments on 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, it has 

become effective pursuant to Section 

19(b)(3)(A) of the Act 7 and Rule 19b– 

4(f)(6)(iii) thereunder.8

A proposed rule change filed under 

Rule 19b–4(f)(6) normally does not 

become operative for 30 days after the 

date of filing. However, Rule 19b4(f)(6)(iii) permits the Commission to 

designate a shorter time if such action 

is consistent with the protection of 

investors and the public interest. The 

Exchange requests that the Commission 

waive the 30-day operative delay, as 

specified in Rule 19b–4(f)(6)(iii),9 which 

would make the rule change effective 

and operative upon filing. The 

Commission believes that waiving the 

30-day operative delay is consistent 

with the protection of investors and the 

public interest.10 Such waiver will 

result in immediate improvement to the 

Exchange’s rules by clarifying vague 

language, removing inoperative 

language, and correcting a technical 

inaccuracy. The Commission believes 

such improvements should be 

implemented immediately, rather than 

delayed for 30 days. Additionally, the 

proposed rule change does not raise any 

new regulatory issues. For these 

reasons, the Commission designates the 

proposed rule change as operative upon 

filing. 

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–BATS–2010–028 on the 

subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Elizabeth M. Murphy, Secretary, 

Securities Exchange Commission, 100 F 

Street, NE., Washington, DC 20549– 

1090. 

All submissions should refer to File 

Number SR–BATS–2010–028. 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 


emcdonald on DSK2BSOYB1PROD with NOTICES
Federal Register / Vol. 75, No. 204 / Friday, October 22, 2010 / Notices 65395 

11 17 CFR 200.30–3(a)(12). 

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, 100 F Street, NE., 

Washington, DC 20549, on official 

business days between the hours of 10 

a.m. and 3 p.m. Copies of the 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–BATS– 

2010–028 and should be submitted on 

or before November 12, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–26677 Filed 10–21–10; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF STATE 

[Public Notice: 7213] 

Notice Convening an Accountability 

Review Board To Examine the 

Circumstances of the Death of Three 

DoD Personnel Assigned to the U.S. 

Embassy’s Office of Defense 

Representative Pakistan (ODRP) on 

February 3, 2010 

Pursuant to Section 301 of the 

Omnibus Diplomatic Security and 

Antiterrorism Act of 1986, as amended 

(22 U.S.C. 4831 et seq.), the Secretary of 

State has determined that a recent attack 

on three Department of Defense 

personnel assigned to the U.S. 

Embassy’s Office of Defense 

Representative Pakistan (ODRP) 

involved loss of life that was at or 

related to a U.S. mission abroad. 

Therefore, the Secretary has convened 

an Accountability Review Board to 

examine the facts and the circumstances 

of the attacks and to report to me such 

findings and recommendations as it 

deems appropriate. 

The Secretary has appointed Joseph 

Lake, a retired U.S. ambassador, as 

Chair of the Board. He will be assisted 

by Robert Bryson, Lewis Atherton, 

Barbara Martin, Wayne Rychak and by 

the Executive Secretary to the Board, 

Linda Hartley. They bring to their 

deliberations distinguished backgrounds 

in government service and/or the 

private sector. 

The Board will submit its conclusions 

and recommendations to Secretary 

Clinton within 60 days of its first 

meeting, unless the Chair determines a 

need for additional time. Appropriate 

action will be taken and reports 

submitted to Congress on any 

recommendations made by the Board. 

Anyone with information relevant to 

the Board’s examination of these 

incidents should contact the Board 

promptly at (202) 647–5204 or send a 

fax to the Board at (202) 647–3282. 

This notice shall be published in the 

Federal Register. 

Dated: October 8, 2010. 

Patrick F. Kennedy, 

Under Secretary for Management. 

[FR Doc. 2010–26791 Filed 10–21–10; 8:45 am] 

BILLING CODE 4710–35–P 

DEPARTMENT OF TRANSPORTATION 

National Highway Traffic Safety 

Administration 

[U.S. DOT Docket Number NHTSA–2010– 

0135] 

Reports, Forms, and Recordkeeping 

Requirements 

AGENCY: National Highway Traffic 

Safety Administration (NHTSA), 

Department of Transportation. 

ACTION: Request for extension of a 

currently approved collection of 

information. 

SUMMARY: Before a Federal agency can 

collect certain information from the 

public, it must receive approval from 

the Office of Management and Budget 

(OMB). Under procedures established 

by the Paperwork Reduction Act of 

1995, before seeking OMB approval, 

Federal agencies must solicit public 

comment on proposed collections of 

information, including extensions and 

reinstatement of previously approved 

collections. This document describes 

one collection of information for which 

NHTSA intends to seek OMB approval. 

DATES: Comments must be received on 

or before December 21, 2010. 

ADDRESSES: Comments must refer to the 

docket notice numbers cited at the 

beginning of this notice and be 

submitted to Docket Management, 1200 

New Jersey Avenue, SE., West Building 

Ground Floor, Room W12–140, 

Washington, DC 20590, by any of the 

following methods. 

• Federal eRulemaking Portal: http:// 

www.regulations.gov. Follow the 

instructions for submitting comments. 

• Agency Web Site: http:// 

dms.dot.gov. Follow the instructions for 

submitting comments on the Docket 

Management System. 

• Fax: (202) 493–2251. 

• Mail: Docket Management Facility; 

U. S. Department of Transportation, 

1200 New Jersey Avenue, SE., West 

Building Ground Floor, Room W12–140, 

Washington, DC 20590. 

• Hand Delivery/Courier: 1200 New 

Jersey Avenue, SE., West Building 

Ground Floor, Room W12–140, 

Washington, DC 20590, between 9 am 

and 5 pm, Monday through Friday, 

except Federal Holidays. Telephone: 1– 

800–647–5527. 

Instructions: All submissions must 

include the agency name and docket 

number for this proposed collection of 

information. Note that all comments 

received will be posted without change 

to http://dms.dot.gov including any 

personal information provided. Docket: 

For access to the docket to read 

background documents or comments 

received, go to http://dms.dot.gov at any 

time or to Room W12–140 on the 

ground level of the DOT Building, 1200 

New Jersey Avenue, SE., West Building 

Ground Floor, Washington, DC 20590, 

between 9 am and 5 pm, Monday 

through Friday, except Federal 

Holidays. 

FOR FURTHER INFORMATION CONTACT: 

Complete copies of each request for 

collection of information may be 

obtained at no charge from Mr. Hisham 

Mohamed, NHTSA, 1200 New Jersey 

Avenue, SE., West Building, Room # 

W43–437, NVS–131, Washington, DC 

20590. Mr. Mohamed’s telephone 

number is (202) 366–0307. Please 

identify the relevant collection of 

information by referring to its OMB 

Control Number. 

SUPPLEMENTARY INFORMATION: Under the 

Paperwork Reduction Act of 1995, 

before an agency submits a proposed 

collection of information to OMB for 

approval, it must first publish a 

document in the Federal Register 

providing a 60-day comment period and 

otherwise consult with members of the 

public and affected agencies concerning 

each proposed collection of information. 


emcdonald on DSK2BSOYB1PROD with NOTICES