22780 Federal Register / Vol. 74, No. 92 / Thursday, May 14, 2009 / Notices 

9 15 U.S.C. 78s(b)(3)(A). 

10 17 CFR 240.19b–4(f)(6). 

11 17 CFR 240.19b–4(f)(6)(iii). In addition, Rule 

19b–4(f)(6)(iii) requires the self-regulatory 

organization to give the Commission 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. 

12See supra note 5. 

13For purposes only of waiving the operative 

delay for this proposal, the Commission has 

considered the proposed rule’s impact on 

efficiency, competition, and capital formation. See 

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

14 15 U.S.C. 78s(b)(3)(C). 

15 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

and, in general to protect investors and 

the public interest. The proposed rule 

change will allow the listing and trading 

of currency and index warrants on the 

Exchange under standards previously 

implemented by other national 

securities exchanges, which the 

Exchange believes will enhance 

competition among market participants, 

to the benefit of investors and the 

marketplace. 

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: (1) Does not significantly affect 

the protection of investors or the public 

interest; (2) does not impose any 

significant burden on competition; and 

(3) by its terms, does not become 

operative for 30 days after the date of 

filing, or such shorter time as the 

Commission may designate if consistent 

with the protection of investors and the 

public interest, the proposed rule 

change has become effective pursuant to 

Section 19(b)(3)(A) of the Act 9 and Rule 

19b–4(f)(6) thereunder.10

A proposed rule change filed under 

Rule 19b–4(f)(6) normally does not 

become operative for 30 days after the 

date of filing.11 However, Rule 19b– 

4(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 requested that the 

Commission waive the 30-day operative 

delay and designate the proposed rule 

change operative upon filing. 

The Commission believes that 

waiving the 30-day operative delay is 

consistent with the protection of 

investors and the public interest. The 

Commission notes that the proposed 

alternative listing standards are 

substantially identical to rules of other 

national securities exchanges.12

Therefore, the Commission designates 

the proposal operative upon filing.13

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission may summarily abrogate 

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.14

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–NYSEArca–2009–39 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–NYSEArca–2009–39. 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 inspection and copying 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– 

NYSEArca–2009–39 and should be 

submitted on or before June 4, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.15

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–11163 Filed 5–13–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59873; File No. SR–MSRB– 

2009–06] 

Self-Regulatory Organizations; 

Municipal Securities Rulemaking 

Board; Notice of Filing and Immediate 

Effectiveness of Proposed Rule 

Change to MSRB Rule G–8 Requiring 

Brokers, Dealers and Municipal 

Securities Dealers To Maintain Certain 

Records Relating to Auction Rate 

Securities and Variable Rate Demand 

Obligations 

May 6, 2009. 

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 April 28, 

2009, the Municipal Securities 

Rulemaking Board (‘‘MSRB’’) filed with 

the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change as described in 

Items I, II, and III below, which Items 

have been prepared by the MSRB. 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 MSRB is filing with the 

Commission a proposed rule change 

consisting of an amendment to MSRB 

Rule G–8, Books and Records (the 


pwalker on PROD1PC71 with NOTICES
Federal Register / Vol. 74, No. 92 / Thursday, May 14, 2009 / Notices 22781 

3The Commission notes that Rule 19b–4(f)(6)(iii) 

requires the self-regulatory organization to give 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 MSRB has 

satisfied the pre-filing requirement. 

‘‘proposed rule change’’). The proposed 

rule change would provide 

organizations responsible for inspecting 

and enforcing MSRB rules with 

information that would assist in the 

enforcement of compliance with Rule 

G–34(c), on variable rate security market 

information, by requiring brokers, 

dealers and municipal securities dealers 

to maintain certain records relating to 

auction rate securities and variable rate 

demand obligations. The MSRB 

proposes an effective date for the 

proposed rule change of June 1, 2009. 

The text of the proposed rule change 

is available on the MSRB’s Web site 

(http://www.msrb.org), at the MSRB’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, the 

MSRB 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. The MSRB 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 MSRB operates a facility for the 

collection and public dissemination of 

information about securities bearing 

interest at short-term rates (the Shortterm Obligation Rate Transparency 

System, or SHORT System). MSRB Rule 

G–34(c), on variable rate security market 

information, requires brokers, dealers 

and municipal securities dealers 

(collectively ‘‘dealers’’) to report, or 

ensure the reporting of, interest rate and 

descriptive information to the SHORT 

System about municipal Auction Rate 

Securities (‘‘ARS’’) and Variable Rate 

Demand Obligations (‘‘VRDO’’) 

following an ARS auction or VRDO 

interest rate reset. 

The proposed rule change would 

require those dealers for which MSRB 

Rule G–34(c) applies to retain for a 

period of three years records that would 

show that the requirement in Rule G–34 

to submit information to the SHORT 

System applies to the dealer and that 

the dealer has submitted accurate 

information to the SHORT System. For 

ARS, dealers would be required to 

retain a record of all of the ARS for 

which the dealer acts as a Program 

Dealer as defined in Rule G–34(c)(i)(A), 

a record of all information submitted to 

and received from an Auction Agent as 

defined in Rule G–34(c)(i) with respect 

to an auction, and all information 

required to be submitted to the SHORT 

System. For VRDO, dealers would be 

required to retain a record of all of the 

VRDO for which the dealer acts as a 

Remarketing Agent as defined in Rule 

G–34(c)(ii), and all information required 

to be submitted to the SHORT System. 

These records would provide 

organizations responsible for inspecting 

and enforcing MSRB rules with 

information that would assist in the 

enforcement of compliance with MSRB 

Rule G–34(c). 

2. Statutory Basis 

The MSRB believes that the proposed 

rule change is consistent with Section 

15B(b)(2)(C) of the Act, which provides 

that the MSRB’s rules shall: 

be 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 municipal 

securities, to remove impediments to and 

perfect the mechanism of a free and open 

market in municipal securities, and, in 

general, to protect investors and the public 

interest. 

The MSRB believes that the proposed 

rule change is consistent with the Act 

because it will facilitate the inspection 

and enforcement of MSRB Rule G–34(c). 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The MSRB does not believe the 

proposed rule change will impose any 

burden on competition since it would 

apply equally to all brokers, dealers and 

municipal securities dealers. 

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 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 and [sic] 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 and Rule 19b–4(f)(6) thereunder.3

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission may summarily abrogate 

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–MSRB–2009–06 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–MSRB–2009–06. 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 inspection and copying in 


pwalker on PROD1PC71 with NOTICES
22782 Federal Register / Vol. 74, No. 92 / Thursday, May 14, 2009 / Notices 

4 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)(iii). 

4 17 CFR 240.19b–4(f)(3). 

5See Securities Exchange Act Release No. 34– 

59575 (March 13, 2009), 74 FR 11803 (March 19, 

2009): Notice of Filing and Immediate Effectiveness 

of Proposed Rule Change (File No. SR–NYSEALTR– 

2009–24). 

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

7 15 U.S.C. 78f(b)(5). 

8 15 U.S.C. 78s(b)(3)(A). 

9 17 CFR 240.19b–4(f)(3). 

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 will also be available 

for inspection and copying at the 

principal office of the MSRB. 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 No. 

SR–MSRB–2009–06 and should be 

submitted on or before June 4, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.4

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–11167 Filed 5–13–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59884; File No. SR–NYSE– 

2009–43] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Delete All 

References in the NYSE Rule Book to 

‘‘Alternext’’ and ‘‘Alternext US’’ and 

Substitute References to ‘‘Amex’’ To 

Reflect the Recent Name Change of 

NYSE Alternext US LLC to NYSE Amex 

LLC 

May 7, 2009. 

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 April 22, 

2009, New York Stock Exchange LLC 

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

the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change as described in 

Items I, II, and III below, which Items 

have been prepared by NYSE. The 

Exchange has designated this proposal 

as one concerned solely with the 

administration of the Exchange 

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

the Act 3 and Rule 19b–4(f)(3) 

thereunder,4 which renders the proposal 

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 proposes to amend the 

NYSE Rule Book to delete all references 

therein to ‘‘Alternext’’ and ‘‘Alternext 

US’’ and substitute references to 

‘‘Amex’’ to reflect the recent name 

change of NYSE Alternext US LLC to 

NYSE Amex LLC. The text of the 

proposed rule change is available at the 

Exchange, the Commission’s Public 

Reference Room, and http:// 

www.nyse.com. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, 

NYSE 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. NYSE 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 

On March 18, 2009, NYSE Alternext 

US LLC (the ‘‘Amex SRO’’), formerly 

American Stock Exchange LLC prior to 

its acquisition by NYSE Euronext on 

October 1, 2008, filed a Certificate of 

Amendment with the Secretary of State 

of the State of Delaware to officially 

change its name to NYSE Amex LLC. 

Earlier, on March 3, 2009, the Amex 

SRO had filed a Form 19b-4 with the 

Commission proposing to amend its 

rules to reflect the name change, and the 

Commission issued a Notice with 

respect to that rule filing on March 13, 

2009.5

The Exchange has a number of 

outdated references in its Rule Book to 

the Amex SRO under the old name, 

specifically in Rules 2, 6A, 18, 36, 103B 

and 300. The purpose of this proposed 

rule change is to amend the Exchange’s 

Rule Book to delete all references 

therein to ‘‘Alternext’’ and ‘‘Alternext 

US’’ and substitute references to 

‘‘Amex’’ to accurately reflect the recent 

name change of the Amex SRO. 

2. Statutory Basis 

The Exchange believes the proposed 

rule change is consistent with Section 

6(b) 6 of the Securities Exchange Act of 

1934 (the ‘‘Act’’), in general, and 

furthers the objectives of Section 

6(b)(5) 7 in particular in that it 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 

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. More specifically, 

updating the references in the 

Exchange’s rules to reflect the correct 

name of the Amex SRO may help 

eliminate potential confusion among 

investors who may not be aware that a 

name change has taken place. 

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 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 is concerned solely with the 

administration of the Exchange, it has 

become effective pursuant to Section 

19(b)(3)(A) of the Act 8 and 

subparagraph (f)(3) of Rule 19b–4 

thereunder.9 At any time within 60 days 

of the filing of the proposed rule change, 

the Commission may summarily 

abrogate 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. 


pwalker on PROD1PC71 with NOTICES