Document ID: SEC-2009-1235-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; NYSEAmex LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Adopt a New Fee for Annual Regulatory Training
Posted Date: 2009-08-28T04:00Z

[Federal Register: August 28, 2009 (Volume 74, Number 166)]
[Notices]               
[Page 44422-44423]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr28au09-94]                         

[[Page 44422]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-60561; File No. SR-NYSEAmex-2009-56]

 
Self-Regulatory Organizations; NYSEAmex LLC; Notice of Filing and 
Immediate Effectiveness of Proposed Rule Change To Adopt a New Fee for 
Annual Regulatory Training

August 24, 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 August 17, 2009, NYSE Amex LLC (``NYSE Amex'' or ``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.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to amend the section of its Schedule of Fees 
and Charges for Exchange Services (the ``Schedule'') in order to adopt 
a new fee for Annual Regulatory Training. The text of the proposed rule 
change is attached as Exhibit 5 to the 19b-4 form. 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 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 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    As required by NYSE Amex Rule 50 Commentary .03-.04, ATP Holders 
and certain qualified floor personnel are required to participate in an 
Exchange sponsored mandatory regulatory training program. Pursuant to 
provisions contained in Rule 50 Commentary .03-.04, the Exchange may 
charge a per program fee, as indicated in the Schedule, for each 
participant in any training program. The Exchange is proposing to adopt 
a $60 per person fee for any ATP Holder or associated person that 
participates in a regulatory training program.
    Beginning in the fourth quarter of 2009, the Exchange will offer 
regulatory training via a Web-based interactive program that 
participants in the program may access from any Internet-capable 
computer. The purpose of this fee is to cover the Exchange's costs 
associated with the development and delivery of the regulatory training 
program.
    In determining the $60 program fee, the Exchange has evaluated the 
expenses associated with the program and took into consideration the 
expected number of individuals that will participate in the program. 
Upon the completion of the annual training program, the Exchange will 
review the fee to ensure that the fee continues to properly reflect the 
Exchange's development and delivery costs. Any revenues collected in a 
given year that exceed that year's actual development and delivery 
costs will be credited to the projected development and delivery costs 
for the succeeding year. Similarly, any deficit may be carried over to 
the next year for purposes of assessing the fee. If the Exchange 
determines that further fee changes are necessary, it will submit an 
appropriate filing with the U.S. Securities and Exchange Commission.\3\
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    \3\ The assessment of a fee for Regulatory Training, and the 
annual evaluation of the program is similar to the program in place 
at the New York Stock Exchange. See Securities and Exchange Act 
Release No. 59979 (May 27, 2009) 74 FR 26454 (June 2, 2009) (Notice 
of Filing and Immediate Effectiveness of SR-NYSE-2009-52).
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    The Exchange also proposes to clarify language contained in the 
Limit on [sic] Fees on Options Strategy Executions section of the 
Schedule. The new language states, ``The cap applies to all Strategy 
Executions executed on the same trading day in the same options 
class.'' This proposed language is consistent with the way in which the 
Exchange currently applies the fee cap, and simply seeks to eliminate 
any potential confusion caused by the current language.
2. Statutory Basis
    The Exchange believes that the proposal is consistent with Section 
6(b) of the Act, in general, and Section 6(b)(4), in particular, in 
that it provides for the equitable allocation of dues, fees and other 
charges among its members. Under this proposal, all similarly situated 
Exchange participants will be charged the same reasonable dues, fees 
and other charges.

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 is effective upon filing pursuant to 
Section 19(b)(3)(A) \4\ of the Act and subparagraph (f)(2) of Rule 19b-
4 \5\ thereunder, because it establishes a due, fee, or other charge 
imposed by the NYSE Amex.
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    \4\ 15 U.S.C. 78s(b)(3)(A).
    \5\ 17 CFR 240.19b-4(f)(2).
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    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

[[Page 44423]]

     Send an e-mail to rule-comments@sec.gov. Please include 
File Number SR-NYSEAmex-2009-56 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy, 
Secretary, Securities and Exchange Commission, Station Place, 100 F 
Street, NE., Washington, DC 20549-1090.

All submissions should refer to File Number SR-NYSEAmex-2009-56. 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. 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 publicly available. All 
submissions should refer to File Number SR-NYSEAmex-2009-56 and should 
be submitted on or before September 18, 2009.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
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    \6\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-20820 Filed 8-27-09; 8:45 am]

BILLING CODE 8010-01-P