Federal Register / Vol. 74, No. 4 / Wednesday, January 7, 2009 / Notices 757 

18See supra notes 3 and 7. 

19The Exchange represents that it intends to file 

a proposal seeking permanent approval of NYSE 

Arca Realtime Reference Prices. Telephone 

conversation between Ronald Jordan, Executive 

Vice President, Market Data Services, NYSE 

Euronext, and John Roeser, Assistant Director, 

Division of Trading and Markets, Commission, on 

December 30, 2008. 

20 15 U.S.C. 78s(b)(2). 

21 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3See NYSE Arca Rule 6.35—Appointment of 

Market Makers. 

temporarily extend the pilot program is 

consistent with the Act for the reasons 

noted in the Order.18 The Commission 

believes that approving NYSE Arca’s 

proposal to temporarily extend the pilot 

program that imposes a fee for NYSE 

Arca Realtime Reference Prices for an 

additional three months will be 

beneficial to investors and in the public 

interest, in that it is intended to allow 

continued broad public dissemination 

of increased real-time pricing 

information. In addition, extending the 

pilot program for an additional three 

months will allow NYSE Arca, 

consistent with its representation,19 to 

file, the public to comment on, and the 

Commission to analyze consistent with 

the Order and in light of Section 19(b) 

of the Act, a proposal to permanently 

approve the fee for NYSE Arca Realtime 

Reference Prices. 

The Commission finds good cause for 

approving the proposed rule change 

before the thirtieth day after the date of 

publication of notice of filing thereof in 

the Federal Register. Accelerating 

approval of this proposal is expected to 

benefit investors by continuing to 

facilitate their access to widespread, 

free, real-time pricing information 

contained in NYSE Arca Realtime 

Reference Prices. Therefore, the 

Commission finds good cause, 

consistent with Section 19(b)(2) of the 

Act,20 to approve the proposed rule 

change on an accelerated basis to extend 

the operation of the pilot until March 

31, 2009. 

V. Conclusion 

It is therefore ordered, pursuant to 

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

proposed rule change (SR–NYSEArca– 

2008–143) is hereby approved on an 

accelerated basis until March 31, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.21

Florence E. Harmon, 

Acting Secretary. 

[FR Doc. E9–8 Filed 1–6–09; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59191; File No. SR– 

NYSEArca–2008–139] 

Self-Regulatory Organizations; Notice 

of Filing of Proposed Rule Change by 

NYSE Arca, Inc. Amending the Minor 

Rule Plan To Increase Certain 

Sanctions 

December 31, 2008. 

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 December 

17, 2008, NYSE Arca, Inc. (‘‘NYSE 

Arca’’ 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 the Exchange. 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 10.12 Minor Rule Plan by 

increasing certain sanctions contained 

in the fine schedule. The Exchange also 

proposes to make minor technical 

changes at this time. A copy of this 

filing is available on the Exchange’s 

Web site at http://www.nyse.com, at the 

Exchange’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 

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 

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 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 Minor Rule Plan (‘‘MRP’’) fosters 

compliance with applicable rules and 

also helps to reduce the number and 

extent of rule violations committed by 

Options Trading Permit (‘‘OTP’’) 

Holders, OTP Firms and associated 

persons. The prompt imposition of a 

financial penalty helps to quickly 

educate and improve the conduct of 

OTP Holders, OTP Firms and associated 

persons that have engaged in 

inadvertent or otherwise minor 

violations of the Exchange’s rules, 

particularly those who may not pay 

attention to mere warnings that they are 

violating Exchange rules. By promptly 

imposing a meaningful financial penalty 

for such violations, the MRP focuses on 

correcting conduct before it gives rise to 

more serious enforcement action. 

Market Makers on NYSE Arca receive 

certain rights and privileges in return 

for meeting certain obligations. These 

obligations include adhering to certain 

rules regarding quoting, in-person 

trading requirements, and fulfilling the 

terms of a Market Maker Appointment.3

Failure to comply with rules these 

governing Market Maker obligations 

may result in a fine pursuant to the 

MRP. At this time the Exchange feels 

the current monetary fine levels 

contained in the MRP, for violations of 

certain rules pertaining to Market 

Makers, are too low, given the serious 

nature of these rules. In order to act as 

an effective deterrent against future 

violations, while also serving as a just 

penalty for those who commit these 

violations, the Exchange proposes to 

raise the fine levels for violations 

related to certain rules governing Market 

Maker obligations. A brief description of 

each proposed change is shown below. 

Rule 10.12(k)(i)25. 

At least 75% of the trading activity of 

a Market Maker (measured in terms of 

contract volume per quarter) must be in 

classes within the Market Maker’s 

Appointment. A failure to comply with 

the 75% contract volume requirement 

may result in a fine of $500.00 for a first 

offense, $1,000.00 for a second offense 

and $2,500.00 for a third offense. The 

Exchange proposes to raise these 

suggested fines to $1,000.00 for a first 

offense, $2,500.00 for a second offense 

and $3,500.00 for a third offense. 

Rule 10.12(k)(i)26. 

At least 60% of a Market Maker’s 

transactions must be executed by the 

Market Maker in person or through an 

approved facility of the Exchange. A 

failure to comply with this 60% inperson trading requirement may result 

in a fine of $500.00 for a first offense, 

$1,000.00 for a second offense and 

$2,500.00 for a third offense. The 

Exchange proposes to raise these 

758 Federal Register / Vol. 74, No. 4 / Wednesday, January 7, 2009 / Notices 

4 15 U.S.C. 78f(b). 

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

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

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

suggested fines to $1,000.00 for a first 

offense, $2,500.00 for a second offense 

and $3,500.00 for a third offense. 

Rule 10.12(k)(i)37. 

Market Makers on NYSE Arca must 

apply for an appointment in one or 

more classes of option contracts. A 

Market Maker who fails to apply for an 

Appointment may be subject to a fine of 

$500.00 for a first offense, $1,000.00 for 

a second offense and $1,500.00 for a 

third offense. The Exchange proposes to 

raise these suggested fines to $1,000.00 

for a first offense, $2,500.00 for a second 

offense and $3,500.00 for a third 

offense. 

Rule 10.12(k)(i)39. 

Market Makers, including Lead 

Market Makers, have certain obligations 

pertaining to quotes and quoting, which 

are governed by Rule 6.37B. Market 

Makers or Lead Market Makers who fail 

to comply with the Quotation 

Requirements of Rule 6.37B may be 

subject to a fine of $500.00 for a first 

offense, $1,000.00 for a second offense 

and $2,500.00 for a third offense. The 

Exchange proposes to raise these 

suggested fines to $1,000.00 for a first 

offense, $2,500.00 for a second offense 

and $3,500.00 for a third offense. 

Rule 10.12(k)(i)41. 

Market Makers are required to provide 

accurate quotes, and quote markets 

within the maximum quote spread 

differentials prescribed in Rule 6.37. 

Market Makers who fail to provide 

accurate quotes within the maximum 

quote spread differentials may be 

subject to a fine of $500.00 for a first 

offense, $1,000.00 for a second offense 

and $2,000.00 for a third offense. The 

Exchange proposes to raise these 

suggested fines to $1000.00 for a first 

offense, $2,500.00 for a second offense 

and $3,500.00 for a third offense. 

Other Minor Changes 

Rule 10.12(h)(25) deals with a failure 

to meet a 75% Primary Appointment 

requirement for Market Makers and cites 

Rules 6.35 Commentary .03 and 

6.37(h)(5). The 75 percent Appointment 

requirement is actually governed by 

Rule 6.35(i). The Exchange proposes to 

make a change so that the correct rule 

number is properly referenced. A 

similar change is proposed for the 

corresponding fine schedule in Rule 

10.12(k)(i)25. 

Rule 10.12(h)(41) deals with Market 

Makers who fail to quote markets within 

the maximum quote spread differentials 

or who fail to disseminate quotes 

accurately and cites only Rules 

6.37(b)(1) and 6.82(c)(1). However, Rule 

6.37A(b) also deals with maximum 

quote spread differentials, and was 

inadvertently left out of the MRP. It has 

always been the intent of the Exchange 

to have violations of Market Maker 

quoting obligations eligible for 

disposition under the MRP. This rule 

change simply serves to add the 

previously omitted rule citation at this 

time. A similar change is proposed for 

the corresponding fine schedule in Rule 

10.12(k)(i)41. 

2. Statutory Basis 

The proposed rule change is 

consistent with Section 6(b) 4 of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’), in general, and furthers the 

objectives of Section 6(b)(5) 5 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, and to remove 

impediments to and perfect the 

mechanism of a free and open market 

and a national market system. 

The proposal is also consistent with 

Section 6(b)(6) 6 and 6(b)(7),7 which 

requires that members and persons 

associated with members are 

appropriately disciplined for violations 

of Exchange rules and are provided a 

fair procedure for disciplinary 

procedures. 

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 

Within 35 days of the date of 

publication of this notice in the Federal 

Register or within such longer period (i) 

as the Commission may designate up to 

90 days of such date if it finds such 

longer period to be appropriate and 

publishes its reasons for so finding, or 

(ii) as to which Amex consents, the 

Commission will: 

(A) By order approve such proposed 

rule change; or 

(B) Institute proceedings to determine 

whether the proposed rule change 

should be 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–NYSEArca–2008–139 on 

the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 

Commission, 100 F Street, NE., 

Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–NYSEArca–2008–139. 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 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– 

NYSEArca–2008–139 and should be 

submitted on or before January 28, 2009. 

Federal Register / Vol. 74, No. 4 / Wednesday, January 7, 2009 / Notices 759 

8 17 CFR 200.30–3(a)(12). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.8

Florence E. Harmon, 

Acting Secretary. 

[FR Doc. E9–16 Filed 1–6–09; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF STATE 

[Public Notice 6474] 

Culturally Significant Objects Imported 

for Exhibition Determinations: 

‘‘Becoming Edvard Munch: Influence, 

Anxiety, and Myth’’ 

SUMMARY: Notice is hereby given of the 

following determinations: Pursuant to 

the authority vested in me by the Act of 

October 19, 1965 (79 Stat. 985; 22 U.S.C. 

2459), Executive Order 12047 of March 

27, 1978, the Foreign Affairs Reform and 

Restructuring Act of 1998 (112 Stat. 

2681, et seq.; 22 U.S.C. 6501 note, et 

seq.), Delegation of Authority No. 234 of 

October 1, 1999, Delegation of Authority 

No. 236 of October 19, 1999, as 

amended, and Delegation of Authority 

No. 257 of April 15, 2003 [68 FR 19875], 

I hereby determine that the objects in 

the exhibition: ‘‘Becoming Edvard 

Munch: Influence, Anxiety, and Myth,’’ 

imported from abroad for temporary 

exhibition within the United States, are 

of cultural significance. The objects are 

imported pursuant to loan agreements 

with the foreign owners or custodians. 

I also determine that the exhibition or 

display of the exhibit objects at The Art 

Institute of Chicago, Chicago, IL, from 

on or about February 14, 2009, until on 

or about April 26, 2009, and at possible 

additional exhibitions or venues yet to 

be determined, is in the national 

interest. Public Notice of these 

Determinations is ordered to be 

published in the Federal Register. 

FOR FURTHER INFORMATION CONTACT: For 

further information, including a list of 

the exhibit objects, contact Julie 

Simpson, Attorney-Adviser, Office of 

the Legal Adviser, U.S. Department of 

State (telephone: (202–453–8050)). The 

address is U.S. Department of State, SA– 

44, 301 4th Street, SW., Room 700, 

Washington, DC 20547–0001. 

Dated: December 30, 2008. 

C. Miller Crouch, 

Principal Deputy Assistant Secretary for 

Educational and Cultural Affairs, Department 

of State. 

[FR Doc. E9–54 Filed 1–6–09; 8:45 am] 

BILLING CODE 4710–05–P 

DEPARTMENT OF STATE 

[Public Notice 6475] 

Culturally Significant Objects Imported 

for Exhibition Determinations: ‘‘Cast in 

Bronze: French Sculpture From 

Renaissance to Revolution’’ 

SUMMARY: Notice is hereby given of the 

following determinations: Pursuant to 

the authority vested in me by the Act of 

October 19, 1965 (79 Stat. 985; 22 U.S.C. 

2459), Executive Order 12047 of March 

27, 1978, the Foreign Affairs Reform and 

Restructuring Act of 1998 (112 Stat. 

2681, et seq.; 22 U.S.C. 6501 note, et 

seq.), Delegation of Authority No. 234 of 

October 1, 1999, Delegation of Authority 

No. 236 of October 19, 1999, as 

amended, and Delegation of Authority 

No. 257 of April 15, 2003 [68 FR 19875], 

I hereby determine that the objects in 

the exhibition: ‘‘Cast in Bronze: French 

Sculpture from Renaissance to 

Revolution,’’ imported from abroad for 

temporary exhibition within the United 

States, are of cultural significance. The 

objects are imported pursuant to loan 

agreements with the foreign owners or 

custodians. I also determine that the 

exhibition or display of the exhibit 

objects at The Metropolitan Museum of 

Art, New York, NY, from on or about 

February 24, 2009, until on or about 

May 24, 2009; The J. Paul Getty 

Museum, Los Angeles, CA, from on or 

about June 30, 2009, until on or about 

September 27, 2009, and at possible 

additional exhibitions or venues yet to 

be determined, is in the national 

interest. Public Notice of these 

Determinations is ordered to be 

published in the Federal Register. 

FOR FURTHER INFORMATION CONTACT: For 

further information, including a list of 

the exhibit objects, contact Julie 

Simpson, Attorney-Adviser, Office of 

the Legal Adviser, U.S. Department of 

State (telephone: (202–453–8050). The 

address is U.S. Department of State, SA– 

44, 301 4th Street, SW., Room 700, 

Washington, DC 20547–0001. 

Dated: December 30, 2008. 

C. Miller Crouch, 

Principal Deputy Assistant Secretary for 

Educational and Cultural Affairs, Department 

of State. 

[FR Doc. E9–55 Filed 1–6–09; 8:45 am] 

BILLING CODE 4710–05–P 

DEPARTMENT OF STATE 

[Public Notice 6473] 

Culturally Significant Objects Imported 

for Exhibition Determinations: 

‘‘Endless Forms’’: Charles Darwin, 

Natural Science and the Visual Arts 

SUMMARY: Notice is hereby given of the 

following determinations: Pursuant to 

the authority vested in me by the Act of 

October 19, 1965 (79 Stat. 985; 22 U.S.C. 

2459), Executive Order 12047 of March 

27, 1978, the Foreign Affairs Reform and 

Restructuring Act of 1998 (112 Stat. 

2681, et seq.; 22 U.S.C. 6501 note, et 

seq.), Delegation of Authority No. 234 of 

October 1, 1999, Delegation of Authority 

No. 236 of October 19, 1999, as 

amended, and Delegation of Authority 

No. 257 of April 15, 2003 [68 FR 19875], 

I hereby determine that the objects in 

the exhibition: ‘‘Endless Forms’’: 

Charles Darwin, Natural Science and the 

Visual Arts, imported from abroad for 

temporary exhibition within the United 

States, are of cultural significance. The 

objects are imported pursuant to loan 

agreements with the foreign owners or 

custodians. I also determine that the 

exhibition or display of the exhibit 

objects at the Yale Center for British Art, 

New Haven, CT, from on or about 

February 12, 2009, until on or about 

May 3, 2009, and at possible additional 

exhibitions or venues yet to be 

determined, is in the national interest. 

Public Notice of these Determinations is 

ordered to be published in the Federal 

Register. 

FOR FURTHER INFORMATION CONTACT: For 

further information, including a list of 

the exhibit objects, contact Julie 

Simpson, Attorney-Adviser, Office of 

the Legal Adviser, U.S. Department of 

State (telephone: (202–453–8050)). The 

address is U.S. Department of State, SA– 

44, 301 4th Street, SW., Room 700, 

Washington, DC 20547–0001. 

December 30, 2008. 

C. Miller Crouch, 

Principal Deputy Assistant Secretary for 

Educational and Cultural Affairs, Department 

of State. 

[FR Doc. E9–56 Filed 1–6–09; 8:45 am] 

BILLING CODE 4710–05–P