4496 Federal Register / Vol. 74, No. 15 / Monday, January 26, 2009 / Notices 

7 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. 57323 

(February 13, 2008), 73 FR 9371 (February 20, 2008) 

(SR–NYSE–2008–09). 

5See Securities Exchange Act Release No. 57826 

(May 15, 2008), 73 FR 29802 (May 22, 2008) (SR– 

NASDAQ–2007–001). 

6See Securities Exchange Act Release No. 58328 

(August 8, 2008), 73 FR 47247 (August 13, 2008) 

(SR–NYSE–2008–63). 

7See Securities Exchange Act Release No. 58732 

(October 3, 2008), 73 FR 61183 (October 15, 2008) 

(SR–NYSE–2008–99). 

Securities and Exchange Commission, 

100 F Street, NE., Washington, DC 

20549–1090. 

All submissions should refer to File 

Number SR–NSCC–2008–10. 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, 100 F Street, NE., Washington, 

DC 20549, on official business days 

between the hours of 10 a.m. and 3 p.m. 

The text of the proposed rule change is 

available at NSCC, the Commission’s 

Public Reference Room, and http:// 

www.dtcc.com/downloads/legal/ 

rule_filings/2008/nscc/2008–10.pdf. 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–NSCC–2008–10 and should 

be submitted on or before February 17, 

2009. 

For the Commission by the Division of 

Trading and Markets, pursuant to delegated 

authority.7

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–1571 Filed 1–23–09; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59255; File No. SR–NYSE– 

2009–02] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change by New York 

Stock Exchange LLC Extending Until 

March 9, 2009, the Operation of Interim 

NYSE Rule 128 Which Permits the 

Exchange To Cancel or Adjust Clearly 

Erroneous Executions If They Arise 

Out of the Use or Operation of Any 

Quotation, Execution or 

Communication System Owned or 

Operated by the Exchange, Including 

Those Executions That Occur in the 

Event of a System Disruption or 

System Malfunction 

January 15, 2009. 

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 January 

9, 2009, New York Stock Exchange LLC 

(‘‘NYSE’’ or the ‘‘Exchange’’) 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 extend 

until March 9, 2009, the operation of 

interim NYSE Rule 128 (‘‘Clearly 

Erroneous Executions for NYSE 

Equities’’) which permits the Exchange 

to cancel or adjust clearly erroneous 

executions if they arise out of the use or 

operation of any quotation, execution or 

communication system owned or 

operated by the Exchange, including 

those executions that occur in the event 

of a system disruption or system 

malfunction. 

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 the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to extend 

until March 9, 2009, the operation of 

interim NYSE Rule 128 (‘‘Clearly 

Erroneous Executions for NYSE 

Equities’’) which permits the Exchange 

to cancel or adjust clearly erroneous 

executions if they arise out of the use or 

operation of any quotation, execution or 

communication system owned or 

operated by the Exchange, including 

those executions that occur in the event 

of a system disruption or system 

malfunction. 

Prior to the implementation of NYSE 

Rule 128 on January 28, 2008,4 the 

NYSE did not have a rule providing the 

Exchange with the authority to cancel or 

adjust clearly erroneous trades of 

securities executed on or through the 

systems and facilities of the NYSE. 

In order for the NYSE to be consistent 

with other national securities exchanges 

which have some version of a clearly 

erroneous execution rule, the Exchange 

is drafting an amended clearly 

erroneous rule which will accommodate 

such other exchanges but will be 

appropriate for the NYSE market model. 

The NYSE notes that the Commission 

approved an amended clearly erroneous 

execution rule for Nasdaq in May 2008.5

On July 28, 2008, the Exchange filed 

with the SEC a request to extend the 

operation of interim Rule 128 until 

October 1, 2008 6 in order to review the 

provisions of Nasdaq’s clearly erroneous 

rule and to consider integrating similar 

standards into its own amendment to 

Rule 128. On October 1, 2008,7 the 

Exchange filed with the SEC a further 

request to extend the operation of 

interim Rule 128 until January 9, 2009 

in order to consider integrating similar 

standards into the amendment to Rule 

128. The Exchange is in the process of 

Federal Register / Vol. 74, No. 15 / Monday, January 26, 2009 / Notices 4497 

8 15 U.S.C. 78f(a). 

9 15 U.S.C. 78f(b)(5). 

10 15 U.S.C. 78s(b)(3)(A). 

11 17 CFR 240.19b–4(f)(6). 

12 17 CFR 240.19b–4(f)(6)(iii). 

13 In fact, the Commission notes, under Rule 19b– 

4(f)(6)(iii), the ‘‘consistent with the protection of 

investors and public interest’’ standard applies only 

to the Commission’s waiver of the 30-day operative 

delay. Rule 19b–4(f)(6)(iii) requires a self-regulatory 

organization to give the Commission written notice 

of its intent to file 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. 

14For purposes only of waiving the 30-day 

operative delay, the Commission has considered the 

proposed rule’s impact on efficiency, competition, 

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

finalizing its review of Nasdaq’s 

amended rule and additional market 

wide CEE initiatives which, if 

appropriate, may be included in the 

proposed amendment of Rule 128 and 

the Exchange is, therefore, requesting to 

extend the operation of interim Rule 128 

until March 9, 2009. Prior to March 9, 

2009, the Exchange intends to file a 

19b–4 rule change amending interim 

Rule 128, which, if approved by the 

SEC, will be effective after March 9, 

2009. 

2. Statutory Basis 

The basis under the Securities 

Exchange Act of 1934 (the ‘‘Act’’) 8 for 

this proposed rule change is the 

requirement under Section 6(b)(5) 9 that 

an Exchange have rules that are 

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. 

As articulated more fully above, the 

proposed rule would place the NYSE on 

equal footing with other national 

securities exchanges. This will promote 

the integrity of the market and protect 

the public interest, since it would 

permit all exchanges to cancel or adjust 

clearly erroneous trades when such 

trades occur, rather than canceling them 

on all other markets, but leaving them 

standing on only one market. 

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 

The foregoing rule change has become 

effective pursuant to Section 

19(b)(3)(A) 10 of the Act and Rule 19b– 

4(f)(6) 11 thereunder. The proposed rule 

change effects a change that (A) does not 

significantly affect the protection of 

investors or the public interest; (B) does 

not impose any significant burden on 

competition; and (C) by its terms, does 

not become operative for 30 days after 

the date of the filing, or such shorter 

time as the Commission may designate 

if consistent with the protection of 

investors and the public interest; 

provided that the self-regulatory 

organization has given 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 believes that good 

cause, consistent with the provisions of 

Rule 19b–4(f)(6), exists to justify making 

the rule change immediately effective. 

Because the proposed rule is based on 

a rule that has been previously 

approved by the Commission, and 

because the proposed rule would in any 

event be operative only until a more 

robust and market-appropriate rule was 

implemented, the NYSE believes that 

the proposed rule is non-controversial. 

Moreover, the NYSE believes that the 

absence of such a rule in an automated 

and fast-paced trading environment 

poses a danger to the integrity of the 

markets and the public interest, and that 

this exigency justifies filing the rule for 

immediate effectiveness rather than 

using the regular Rule 19b–2 process, 

which would require the Exchange to 

continue without the protection of the 

proposed rule until the expiration of the 

prescribed time periods for notice, 

comment and approval. In contrast, 

immediate effectiveness of the proposed 

rule will immediately and timely enable 

the NYSE to cancel or adjust clearly 

erroneous trades that may present a risk 

to the integrity of the equities markets 

and all related markets. The proposed 

rule will also allow the Exchange to 

protect customers and the public 

interest, and to continue to provide 

economically efficient execution of 

securities transactions. 

The NYSE also requests that the 

Commission waive the five-day period 

for notice of intent to file this proposed 

rule change, and the 30-day period 

before the rule becomes operative, both 

of which are prescribed by Rule 19b– 

4(f)(6), but which may be waived 

pursuant to Rule 19b–4(f)(6)(iii) 12 if 

such action is consistent with the 

protection of investors and public 

interest.13 The Exchange believes that 

waiver of these time periods so that the 

rule may be immediately operative are 

consistent with the protection of 

investors and the public interest for the 

reasons described above. 

The Commission believes that 

waiving the 30-day operative delay will 

allow the Exchange to continue to 

immediately and timely cancel or adjust 

trades that it determines to be clearly 

erroneous under Rule 128. The 

Commission believes that the extension 

of NYSE Rule 128 until March 9, 2009 

will allow the Exchange to continue to 

apply the rule without interruption and 

is consistent with the protection of 

investors and the public interest. The 

Commission hereby designates the 

proposal as operative upon filing.14 The 

Commission has determined to waive 

the five-day prefiling period in this case. 

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission may summarily abrogate 

the 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–2009–02 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–2009–02. This file 

number should be included on the 

subject line if e-mail is used. To help the 

4498 Federal Register / Vol. 74, No. 15 / Monday, January 26, 2009 / Notices 

15 17 CFR 200.30–3(a)(12). 

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, 100 F Street, NE., Washington, 

DC 20549, 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 NYSE. 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–2009–02 and should 

be submitted on or before February 17, 

2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.15

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–1463 Filed 1–23–09; 8:45 am] 

BILLING CODE 8011–01–P 

SOCIAL SECURITY ADMINISTRATION 

Agency Information Collection 

Activities: Proposed Request and 

Comment Request 

The Social Security Administration 

(SSA) publishes a list of information 

collection packages requiring clearance 

by the Office of Management and 

Budget (OMB) in compliance with 

Public Law (Pub. L.) 104–13, the 

Paperwork Reduction Act of 1995, 

effective October 1, 1995. This notice 

includes revisions to existing OMBapproved information collections. 

SSA is soliciting comments on the 

accuracy of the agency’s burden 

estimate; the need for the information; 

its practical utility; ways to enhance its 

quality, utility, and clarity; and ways to 

minimize the burden on respondents, 

including the use of automated 

collection techniques or other forms of 

information technology. Mail, e-mail, or 

fax your comments and 

recommendations on the information 

collection(s) to the OMB Desk Officer 

and the SSA Reports Clearance Officer 

to the addresses or fax numbers listed 

below. 

(OMB), Office of Management and 

Budget, Attn: Desk Officer for SSA, 

Fax: 202–395–6974, E-mail address: 

OIRA Submission@omb.eop.gov. 

(SSA), Social Security Administration, 

DCBFM, Attn: Reports Clearance 

Officer, 1332 Annex Building, 6401 

Security Blvd., Baltimore, MD 21235, 

Fax: 410–965–6400, E-mail address: 

OPLM.RCO@ssa.gov. 

The information collections below are 

pending at SSA. SSA will submit them 

to OMB within 60 days from the date of 

this notice. Therefore, your comments 

would be most helpful if you submit 

them to SSA within 60 days from the 

date of this publication. Individuals can 

obtain copies of these collection 

instruments by calling the SSA Reports 

Clearance Officer at 410–965–3758 or by 

writing to the e-mail address listed 

above. 

1. Letter to Employer Requesting 

Information About Wages Earned by 

Beneficiary—20 CFR 416.703 & 

404.801—0960–0034. SSA uses 

information from Form SSA–L725 to 

determine and verify a beneficiary’s 

wages when SSA has incomplete or 

questionable wage data. SSA uses the 

information on the SSA–L725 to 

calculate the correct amount of benefits 

payable and to maintain an accurate 

record of earnings for the beneficiary. 

Respondents are small business 

employers. 

Type of Request: Revision of an OMBapproved information collection. 

Number of Respondents: 150,000. 

Frequency of Response: 1. 

Average Burden per Response: 40 

minutes. 

Estimated Annual Burden: 100,000 

hours. 

2. Statement of Care and 

Responsibility for Beneficiary—20 CFR 

404.2020, 404.2025, 408.620, 408.625, 

416.620, 416.625—0960–0109. SSA uses 

information from Form SSA–788 to 

verify statements of concern made by 

payee applicants and to identify other 

potential payees. SSA is concerned with 

selecting the most qualified 

representative payee who will use 

Social Security benefits in the 

beneficiary’s best interest. SSA 

considers factors such as the payee 

applicant’s capacity to perform payee 

duties, awareness of the beneficiary’s 

situation and needs, demonstration of 

past and current concern for the 

beneficiary’s well-being, etc. If the 

payee applicant does not have custody 

of the beneficiary, SSA will obtain 

information from the custodian for 

evaluation against information provided 

by the applicant. Respondents are 

individuals who have custody of the 

beneficiary in cases where someone else 

has filed to be the beneficiary’s 

representative payee. 

Type of Request: Revision of an OMBapproved information collection. 

Number of Respondents: 130,000. 

Frequency of Response: 1. 

Average Burden per Response: 10 

minutes. 

Estimated Annual Burden: 21,667 

hours. 

3. Application for Special Age 72-orOver Monthly Payments—20 CFR 

404.380–404.384—0960–0096. Form 

SSA–19–F6 collects the information 

needed to determine whether a claimant 

can qualify for Special Age 72 

payments. SSA will evaluate eligibility 

requirements using the data collected on 

this form. The respondents are 

individuals who reached age 72 before 

1972. 

Type of Request: Revision of an OMBapproved information collection. 

Number of Respondents: 10. 

Frequency of Response: 1. 

Average Burden per Response: 10 

minutes. 

Estimated Annual Burden: 2 hours. 

4. Third Party Liability Information 

Statement—42 CFR 433.136–433.139— 

0960–0323. Medicaid state agencies 

must identify third party insurers liable 

for medical care or services for 

Medicaid beneficiaries; this reduces 

Medicaid costs. Regulations at 42 CFR 

433.136–433.139 require Medicaid state 

agencies to obtain this information on 

Medicaid applications and 

redeterminations as a condition of 

Medicaid eligibility. States may enter 

into agreements with the Commissioner 

of Social Security to make Medicaid 

eligibility determinations for aged, 

blind, and disabled beneficiaries in 

those states. Applications for and 

redeterminations of Supplemental 

Security Income (SSI) eligibility in 

jurisdictions with such agreements are 

applications and redeterminations of 

Medicaid eligibility. Under these 

agreements, SSA obtains third party 

liability information using Form SSA– 

8019 and provides that information to 

the Medicaid state agencies. The 

Medicaid state agencies use the 

information to bill third parties liable 

for medical care, support, or services for 

a beneficiary to guarantee that Medicaid 

remains the payer of last resort. The