Document ID: SEC-2012-1987-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: Chicago Stock Exchange, Inc.
Posted Date: 2012-12-04T05:00Z

[Federal Register Volume 77, Number 233 (Tuesday, December 4, 2012)]
[Notices]
[Page 71852]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-29240]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-68311; File No. SR-CHX-2012-013]

Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; 
Notice of Designation of Longer Period for Commission Action on a 
Proposed Rule Change Relating to Adoption of Listing Standards for 
Compensation Committees and Advisors as Required by Rule 10C-1

 November 28, 2012.

I. Introduction

    On September 26, 2012, Chicago Stock Exchange, Inc. (``CHX'') filed 
with the Securities and Exchange Commission (``Commission''), pursuant 
to Section 19(b)(1) \1\ of the Securities Exchange Act of 1934 
(``Act''),\2\ and Rule 19b-4 thereunder,\3\ a proposed rule change to 
amend certain of its rules relating to listing standards for 
compensation committees and advisors. The proposed rule change was 
published for comment in the Federal Register on October 16, 2012.\4\ 
The Commission received no comment letters on this proposal.\5\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
    \4\ See Securities Exchange Act Release No. 68033 (October 10, 
2012), 77 FR 63370. (October 16, 2012) (SR-CHX-2012-13).
    \5\ The Commission notes, however, that fourteen comment letters 
were received in total concerning similar rule changes proposed by 
other national securities exchanges. See Securities Exchange Act 
Release No. 68313, (November 28, 2012) (Notice of Designation of 
Longer Period for Commission Action on Proposed Rule Changes 
Relating to Adoption of Listing Standards for Compensation 
Committees and Advisors as Required by Rule 10C-1 for BATS Exchange, 
Inc., NASDAQ OMX BX, Inc. Chicago Board Options Exchange, Inc., The 
NASDAQ Stock Market LLC, New York Stock Exchange LLC, NYSE Arca LLC, 
and NYSE MKT LLC).
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    Section 19(b)(2) of the Act \6\ provides that within 45 days of the 
publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved. The 
45th day from the publication of notice of filing of this proposed rule 
change is November 30, 2012. The Commission is extending the 45-day 
time period for Commission action on the proposed rule change.
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    \6\ 15 U.S.C. 78s(b)(2).
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    The Commission finds it appropriate to designate a longer period 
within which to take action on this proposed rule change so that it has 
sufficient time to consider the proposed rule change, which would 
revise the rules relating to compensation committee and compensation 
advisor requirements.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\7\ designates January 14, 2013, as the date by which the 
Commission should either approve or disapprove or institute proceedings 
to determine whether to disapprove this proposed rule change.
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    \7\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
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    \8\ 17 CFR 200.30-3(a)(31).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-29240 Filed 12-3-12; 8:45 am]
BILLING CODE 8011-01-P