Document ID: SEC-2009-0293-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: Chicago Board Options Exchange, Inc.
Posted Date: 2009-03-06T05:00Z

[Federal Register: March 6, 2009 (Volume 74, Number 43)]
[Notices]               
[Page 9839-9840]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr06mr09-62]                         

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-59462; File No. SR-CBOE-2009-010]

 
Self-Regulatory Organizations; Chicago Board Options Exchange, 
Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule 
Change To Amend Exchange Regulatory Circular RG02-101 Issued Under Rule 
17.50(g)(6)--Imposition of Fines for Minor Rule Violations

February 26, 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 February 18, 2009, Chicago Board Options Exchange, Inc. filed 
with the Securities and Exchange Commission (the ``Commission'') the 
proposed rule change as described in Items I, II, and III below, which 
Items have been prepared by the Exchange. The Exchange filed the 
proposal pursuant to Section 19(b)(3)(A)(iii) of the Act \3\ and Rule 
19b-4(f)(3) thereunder.\4\ 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.
    \3\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \4\ 17 CFR 240.19b-4(f)(3).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Chicago Board Options Exchange, Inc. (``CBOE'' or ``Exchange'') 
proposes to amend Regulatory Circular RG02-101 (Violations of Trading 
Conduct and Decorum Policies) issued in accordance with Exchange Rule 
17.50(g)(6)--Imposition of Fines for Minor Rule Violations to provide 
the Exchange with the flexibility to allow Exchange members and their 
associated persons to bring certain foods and/or drinks to the trading 
floor as set forth by the Exchange in a separate Regulatory Circular. 
CBOE is also proposing several non-substantive changes. The text of the 
proposed rule change is available on the Exchange's Web site (http://
www.cboe.com/Legal), at the Exchange's Office of the Secretary, and at 
the Commission.

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 and is set forth in sections (A), 
(B), and (C) below.

A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    CBOE is proposing to amend Regulatory Circular RG02-101 to enable 
the Exchange to adopt policies providing exceptions to the existing 
prohibition of food and drinks on the trading floor. In adopting this 
flexibility, the Exchange may notify members through a separate 
Regulatory Circular of food or drinks that would be permissible on the 
trading floor and, if applicable, any limitations on such permissible 
food and drinks. Violations of the food or drink policy would continue 
to be subject to the existing fine schedule as set forth in Exhibit 5. 
CBOE is proposing to adopt this flexibility to accommodate Members and 
Associated Persons that are unable to leave the trading floor during 
the day.
    CBOE is also proposing several non-substantive changes. First, CBOE 
is proposing to remove the previous Regulatory Circular number as a new 
number will be assigned when the amended circular is issued. In 
addition, CBOE is proposing to update the contact information included 
on the Regulatory Circular. In particular, the Exchange is proposing 
issue the circular from its Legal Division and Member and Regulatory 
Services Division rather than the Floor Officials Committee. Further, 
CBOE is proposing to amend the Regulatory Circular to reflect existing 
staff that may be contacted regarding questions about the Regulatory 
Circular and remove contact information that is no longer current. CBOE 
is also proposing to delete an unnecessary comma in the reference to 
one of the earlier circulars listed.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with Section 6(b) the Act,\5\ in general, and furthers the objectives 
of Section 6(b)(1) of the Act \6\ in particular, to enable the Exchange 
to enforce compliance by its members and persons associated with its 
members with the rules of the Exchange.
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    \5\ 15 U.S.C. 78f(b).
    \6\ 15 U.S.C. 78f(b)(1).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    CBOE does not believe that the proposed rule change will impose any 
burden on competition 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.

[[Page 9840]]

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)(iii) of the Act \7\ and Rule 19b-4(f)(3) \8\ thereunder 
because it is concerned solely with the administration of the Exchange. 
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.
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    \7\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \8\ 17 CFR 240.19b-4(f)(3).
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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 rule-comments@sec.gov. Please include 
File Number SR-CBOE-2009-010 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-CBOE-2009-010. 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 the filing will also be available for 
inspection and copying at the principal office of the self-regulatory 
organization. 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-
CBOE-2009-010 and should be submitted on or before March 27, 2009.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\9\
Florence E. Harmon,
Deputy Secretary.
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    \9\ 17 CFR 200.30-3(a)(12).
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[FR Doc. E9-4757 Filed 3-5-09; 8:45 am]

BILLING CODE 8011-01-P