Federal Register / Vol. 75, No. 209 / Friday, October 29, 2010 / Notices 66811 

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

2 17 CFR 240.19b–4. 

securities as specified in Rule 17a–7(b) 

and will include only securities for 

which market quotations are readily 

available on the Substitution Date. In 

accordance with Rule 17a–7(c), Section 

17(b) Applicants assert that the 

proposed In-Kind Transactions will be 

consistent with the policy of each 

registered investment company and 

separate series thereof participating in 

the In-Kind Transactions, as recited in 

the relevant registered investment 

company’s registration statement and 

reports. As specified in Rule 17a–7(d), 

the Application states that no brokerage 

commission, fee (except for any 

customary transfer fees), or other 

remuneration will be paid in connection 

with the proposed In-Kind Transactions. 

Likewise, Section 17(b) Applicants 

represent that Trust’s Board of Trustees 

has adopted and implemented the fund 

governance and oversight procedures as 

required by Rule 17a–7(e) and (f). The 

Application also states, ‘‘pursuant to 

Rule 17a–7(e)(3), during the calendar 

quarter following the quarter in which 

any In-Kind Transactions occur, the 

Trust’s Board of Trustees will review 

reports submitted by NFA in respect of 

such In-Kind Transactions in order to 

determine that all such In-Kind 

Transactions made during the preceding 

quarter were effected in accordance 

with the representations stated herein.’’ 

Finally, Applicants represent that a 

written record of the procedures for the 

proposed In-Kind Transactions will be 

maintained and preserved in accordance 

with Rule 17a–7(g). 

Conclusions 

Section 26 Applicants submit that for 

the reasons summarized above the 

proposed Substitutions meet the 

standards of Section 26(c) of the 1940 

Act and request that the Commission 

issue an order of approval pursuant to 

Section 26(c) of the 1940 Act. Section 17 

Applicants submit that the proposed InKind Transactions meet the standards of 

Section 17(b) of the 1940 Act and 

request that the Commission issue an 

order of exemption pursuant to Section 

17(b) of the 1940 Act. 

For the Commission, by the Division of 

Investment Management pursuant to 

delegated authority. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–27367 Filed 10–28–10; 8:45 am] 

BILLING CODE 8011–01–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 an Open Meeting 

on November 3, 2010 at 10 a.m., in the 

Auditorium, Room L–002. 

The subject matter of the Open 

Meeting will be: 

1. The Commission will consider 

whether to adopt new Rule 15c3–5, Risk 

Management Controls for Brokers or 

Dealers with Market Access, under the 

Securities Exchange Act of 1934. The 

new rule would require brokers or 

dealers with access to trading directly 

on an exchange or alternative trading 

system (‘‘ATS’’), including those 

providing sponsored or direct market 

access to customers or other persons, to 

implement risk management controls 

and supervisory procedures reasonably 

designed to manage the financial, 

regulatory, and other risks of this 

business activity. Among other things, 

new Rule 15c3–5 would effectively 

prohibit broker-dealers from providing 

‘‘unfiltered’’ or ‘‘naked’’ sponsored access 

to any exchange or ATS. 

2. The Commission will consider 

whether to propose a new rule under 

Section 763(g) of the Dodd-Frank Wall 

Street Reform and Consumer Protection 

Act, Public Law 111–203, to prohibit 

fraud, manipulation, and deception in 

connection with security-based swaps. 

3. The Commission will consider 

whether to propose rules and forms to 

implement Section 21F of the Securities 

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

entitled ‘‘Securities Whistleblower 

Incentives and Protection.’’ Section 21F, 

as added by Section 922 of the DoddFrank Wall Street Reform and Consumer 

Protection Act, provides that the 

Commission shall pay awards, under 

regulations prescribed by the 

Commission and subject to certain 

limitations, to eligible whistleblowers 

who voluntarily provide the 

Commission with original information 

about a violation of the Federal 

securities laws that leads to the 

successful enforcement of a covered 

judicial or administrative action, or a 

related action. 

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: October 27, 2010. 

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2010–27493 Filed 10–27–10; 4:15 pm] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63151; File No. SR– 

NASDAQ–2010–132] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of a Proposed Rule Change by The 

NASDAQ Stock Market LLC To Clarify 

the Implementation Date of the 

NASDAQ Options Market Professional 

Filing 

October 21, 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 October 

14, 2010, The NASDAQ Stock Market 

LLC (‘‘NASDAQ’’) filed with the 

Securities and Exchange Commission 

(‘‘SEC’’ or ‘‘Commission’’) the proposed 

rule change as described in Items I, II, 

and III, below, which Items have been 

prepared by NASDAQ. 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 

NASDAQ is filing with the Securities 

and Exchange Commission (‘‘SEC’’ or 

‘‘Commission’’) a proposal that clarifies 

when the NASDAQ Options Market 

(‘‘NOM’’ or ‘‘Exchange’’) intends to 

implement a recent filing that adopted 

a definition of ‘‘Professional’’ on the 

Exchange and required that all 

Professional orders be appropriately 

marked (the ‘‘NOM Professional filing’’). 

The text of the proposed rule change 

is available from NASDAQ’s Web site at 

http://nasdaq.cchwallstreet.com/ 

Filings/, at NASDAQ’s principal office, 

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, 

NASDAQ included statements 

concerning the purpose of and basis for 

the proposed rule change and discussed 

WReier-Aviles on DSKGBLS3C1PROD with NOTICES

66812 Federal Register / Vol. 75, No. 209 / Friday, October 29, 2010 / Notices 

3See Securities Exchange Act Release No. 62724 

(August 16, 2010), 75 FR 51509 (August 20, 2010) 

(SR–NASDAQ–2010–099) (notice of filing). See also 

Securities Exchange Act Release Nos. 63028 

(October 1, 2010), 75 FR 62443 (October 8, 2010) 

(SR–NASDAQ–2010–099) (approval order). 

4 15 U.S.C. 78f. 

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

6 15 U.S.C. 78s(b)(3)(A). 

7 17 CFR 240.19b–4(f)(3). 8 17 CFR 200.30–3(a)(12). 

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. 

NASDAQ 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 

The purpose of this filing is to clarify 

when the Exchange intends to 

implement the recent NOM Professional 

filing that amended Chapter I, Section 1 

(Definitions) to adopt a definition of 

‘‘Professional’’ on the Exchange and 

require that all Professional orders be 

appropriately marked by Exchange 

Participants or members. 

In the NOM Professional filing, the 

Exchange indicated that it intended to 

notify its Participants (members) via an 

Options Trading Alert (‘‘OTA’’) or 

Options Regulatory Alert (‘‘ORA’’) that 

the proposal would be implemented on 

the first trading day of the month after 

approval of the proposal, which would 

be November 1, 2010.3 The Exchange 

has heard from Participants that would 

be responsible for appropriately 

marking Professional orders that the 

November 1 implementation date is too 

short in light of internal technological 

requirements. As a result, the Exchange 

is proposing to clarify that it intends to 

implement the NOM Professional filing 

on the first trading day of December 

2010, and will so notify its Participants 

via an OTA or ORA. 

2. Statutory Basis 

Nasdaq believes that the proposed 

rule change is consistent with the 

provisions of Section 6 of the Act,4 in 

general, and with Section 6(b)(5) of the 

Act,5 in particular, in that the proposal 

is designed to prevent fraudulent and 

manipulative acts and practices, to 

promote just and equitable principles of 

trade, to foster cooperation and 

coordination with persons engaged in 

regulating, clearing, settling, processing 

information with respect to, and 

facilitating transactions in securities, 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 proposed rule 

change proposes to clarify for 

Participants the implementation date of 

a recently-approved Professional 

designation filing. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

NASDAQ 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 

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

Act 6 and Rule 19b–4(f)(3) thereunder,7

Nasdaq has designated this proposal as 

one that is concerned solely with the 

administration of the self-regulatory 

organization. Accordingly, Nasdaq 

believes that its proposal should become 

immediately effective. 

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: (i) Necessary or appropriate in 

the public interest; (ii) for the protection 

of investors; or (iii) otherwise in 

furtherance of the purposes of the Act. 

If the Commission takes such action, the 

Commission shall institute proceedings 

to determine whether the proposed rule 

should be approved or disapproved. 

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–NASDAQ–2010–132 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–NASDAQ–2010–132. 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–NASDAQ–2010–132 and 

should be submitted on or before 

November 19, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.8

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–27336 Filed 10–28–10; 8:45 am] 

BILLING CODE 8011–01–P 

WReier-Aviles on DSKGBLS3C1PROD with NOTICES