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Code · REGISTER · 2007-12-28 · Customs and Border Protection, Department of Homeland Security · Notices

Notices. General notice

98,207 words·~446 min read·/register/2007/12/28/07-6192·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

BILLING CODE 9110-05-M DEPARTMENT OF HOMELAND SECURITY U.S. Customs and Border Protection Quarterly IRS Interest Rates Used in Calculating Interest on Overdue Accounts and Refunds on Customs Duties AGENCY: Customs and Border Protection, Department of Homeland Security. ACTION: General notice. SUMMARY: This notice advises the public of the quarterly Internal Revenue Service interest rates used to calculate interest on overdue accounts (underpayments) and refunds (overpayments) of customs duties.
For the calendar quarter beginning January 1, 2008, the interest rates for overpayments will be 6 percent for corporations and 7 percent for non-corporations, and the interest rate for underpayments will be 7 percent. This notice is published for the convenience of the importing public and Customs and Border Protection personnel. EFFECTIVE DATE: January 1, 2008. FOR FURTHER INFORMATION CONTACT: Ron Wyman, Revenue Division, Collection and Refunds Branch, 6650 Telecom Drive, Suite #100, Indianapolis, Indiana 46278; telephone
(317)614-4516. SUPPLEMENTARY INFORMATION: Background Pursuant to 19 U.S.C. 1505 and Treasury Decision 85-93, published in the **Federal Register** on May 29, 1985 (50 FR 21832), the interest rate paid on applicable overpayments or underpayments of customs duties must be in accordance with the Internal Revenue Code rate established under 26 U.S.C. 6621 and 6622. Section 6621 was amended (at paragraph (a)(1)(B) by the Internal Revenue Service Restructuring and Reform Act of 1998, Pub. L. Law 105-206, 112 Stat. 685) to provide different interest rates applicable to overpayments: One for corporations and one for non-corporations. The interest rates are based on the Federal short-term rate and determined by the Internal Revenue Service
(IRS)on behalf of the Secretary of the Treasury on a quarterly basis. The rates effective for a quarter are determined during the first-month period of the previous quarter. In Revenue Ruling 2007-68, the IRS determined the rates of interest for the calendar quarter beginning January 1, 2008, and ending March 31, 2008. The interest rate paid to the Treasury for underpayments will be the Federal short-term rate (4%) plus three percentage points (3%) for a total of seven percent (7%). For corporate overpayments, the rate is the Federal short-term rate (4%) plus two percentage points (2%) for a total of six percent (6%). For overpayments made by non-corporations, the rate is the Federal short-term rate (4%) plus three percentage points (3%) for a total of seven percent (7%). These interest rates are subject to change for the calendar quarter beginning April 1, 2008, and ending June 30, 2008. For the convenience of the importing public and Customs and Border Protection personnel the following list of IRS interest rates used, covering the period from before July of 1974 to date, to calculate interest on overdue accounts and refunds of customs duties, is published in summary format. Beginning date Ending date Under payments (percent) Over payments (percent) Corporate over payments (Eff.1-1-99) (percent) 070174 063075 6 6 070175 013176 9 9 020176 013178 7 7 020178 013180 6 6 020180 013182 12 12 020182 123182 20 20 010183 063083 16 16 070183 123184 11 11 010185 063085 13 13 070185 123185 11 11 010186 063086 10 10 070186 123186 9 9 010187 093087 9 8 100187 123187 10 9 010188 033188 11 10 040188 093088 10 9 100188 033189 11 10 040189 093089 12 11 100189 033191 11 10 040191 123191 10 9 010192 033192 9 8 040192 093092 8 7 100192 063094 7 6 070194 093094 8 7 100194 033195 9 8 040195 063095 10 9 070195 033196 9 8 040196 063096 8 7 070196 033198 9 8 040198 123198 8 7 010199 033199 7 7 6 040199 033100 8 8 7 040100 033101 9 9 8 040101 063001 8 8 7 070101 123101 7 7 6 010102 123102 6 6 5 010103 093003 5 5 4 100103 033104 4 4 3 040104 063004 5 5 4 070104 093004 4 4 3 100104 033105 5 5 4 040105 093005 6 6 5 100105 063006 7 7 6 070106 123107 8 8 7 010108 033108 7 7 6 Dated: December 21, 2007. Jayson P. Ahern, Acting Commissioner, U.S. Customs and Border Protection. [FR Doc. E7-25315 Filed 12-27-07; 8:45 am] BILLING CODE 9111-14-P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5124-N-15] Notice of Submission of Proposed Information Collection to OMB; Requirement for Contractors to Provide Certificates of Insurance for Capital Program Projects AGENCY: Office of the Chief Information Officer, HUD. ACTION: Notice. SUMMARY: The proposed information collection requirement described below will be submitted to the Office of Management and Budget
(OMB)for review, as required by the Paperwork Reduction Act. The Department is soliciting public comments on the subject proposal. HUD is requesting renewed approval to require Public Housing Agencies to obtain certificates of insurance from contractors and subcontractors before beginning work under either the development of a new low-income public housing project or the modernization of an existing project. DATES: *Comments Due Date:* February 26, 2008. ADDRESSES: Interested persons are invited to submit comments regarding this proposal. Comments should refer to the proposal by name and/or OMB approval Number (2577-0046) and should be sent to: Lillian Deitzer, Reports Management Officer, AYO, Department of Housing and Urban Development, 451 Seventh Street, SW., Washington, DC 20410; e-mail Lillian Deitzer at *Lillian_L_Deitzer@HUD.gov* or telephone
(202)402-2374. This is not a toll-free number. Copies of available documents submitted to OMB may be obtained from Ms. Deitzer at HUD's Web site at *http://www5.hud.gov:63001/po/i/icbts/collectionsearch.cfm.* FOR FURTHER INFORMATION CONTACT: Mary Schulhof, Reports Liaison Officer, PIH, Department of Housing and Urban Development, 451 Seventh Street, SW., Washington, DC 20410; e-mail *Mary_T_Schulhof@HUD.gov* ; or telephone
(202)402-4112. This is not a toll-free number. SUPPLEMENTARY INFORMATION: This notice informs the public that the Department of Housing and Urban Development has submitted to OMB a request for approval of the information collection described below. This notice is soliciting comments from members of the public and affecting agencies concerning the proposed collection of information to:
(1)Evaluate whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility;
(2)Evaluate the accuracy of the agency's estimate of the burden of the proposed collection of information;
(3)Enhance the quality, utility, and clarity of the information to be collected; and
(4)Minimize the burden of the collection of information on those who are to respond; including through the use of appropriate automated collection techniques or other forms of information technology, e.g., permitting electronic submission of responses. This notice also lists the following information: *Title of Proposal:* Requirement for Contractors to Provide Certificates of Insurance for Capital Program Projects. *OMB Approval Number:* 2577-0046. *Description of the Need for the Information and Its Proposed Use:* Public Housing Agencies must obtain certificates of insurance from contractors and subcontractors before beginning work under either the development of a new low-income public housing project or the modernization of an existing project. The certificates of insurance provide evidence that worker's compensation and general liability, automobile liability insurance are in force before any construction work is started. *Frequency of Submission:* On occasion, Other When applicant is offered a unit. Number of respondents Annual responses × Hours per response = Burden hours Reporting Burden 3,000 4 0.5 6,000 *Total Estimated Burden Hours:* 6,000. *Status:* Extension of a currently approved collection. Authority: Section 3507 of the Paperwork Reduction Act of 1995, 44 U.S.C. 35, as amended. Dated: December 19, 2007. Bessy Kong, Deputy Assistant Secretary for Policy, Program, and Legislative Initiatives. [FR Doc. E7-25139 Filed 12-27-07; 8:45 am] BILLING CODE 4210-67-P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5117-N-108] Owner Certification with HUD Tenant Eligibility and Rent Procedures AGENCY: Office of the Chief Information Officer, HUD ACTION: Notice. SUMMARY: The proposed information collection requirement described below has been submitted to the Office of Management and Budget
(OMB)for review, as required by the Paperwork Reduction Act. The Department is soliciting public comments on the subject proposal. Collection of tenant data to ensure owners comply with Federal statues and regulation that
(1)establish policies on who may be admitted to subsidized housing;
(2)prohibit discrimination in conjunction with selection of tenants and units;
(3)specify how tenants' incomes and rents must be compiled. DATES: *Comments Due Date:* January 28, 2008. ADDRESSES: Interested persons are invited to submit comments regarding this proposal. Comments should refer to the proposal by name and/or OMB approval Number (2502-0204) and should be sent to: HUD Desk Officer, Office of Management and Budget, New Executive Office Building, Washington, DC 20503; fax: 202-395-6974. FOR FURTHER INFORMATION CONTACT: Lillian Deitzer, Reports Management Officer, QDAM, Department of Housing and Urban Development, 451 Seventh Street, SW., Washington, DC 20410; e-mail Lillian Deitzer at *Lillian_L_Deitzer@HUD.gov* or telephone
(202)402-8048. This is not a toll-free number. Copies of available documents submitted to OMB may be obtained from Ms. Deitzer. SUPPLEMENTARY INFORMATION: This notice informs the public that the Department of Housing and Urban Development has submitted to OMB a request for approval of the Information collection described below. This notice is soliciting comments from members of the public and affecting agencies concerning the proposed collection of information to:
(1)Evaluate whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility;
(2)Evaluate the accuracy of the agency's estimate of the burden of the proposed collection of information;
(3)Enhance the quality, utility, and clarity of the information to be collected; and
(4)Minimize the burden of the collection of information on those who are to respond; including through the use of appropriate automated collection techniques or other forms of information technology, *e.g.* , permitting electronic submission of responses. This notice also lists the following information: *Title of Proposal* : Owner Certification with HUD Tenant Eligibility and Rent Procedures. *OMB Approval Number* : 2502-0204. *Form Numbers* : HUD-50059, HUD-27061-H, HUD-9887/9887-A, HUD 90100, HUD 90101, HUD 90102, HUD 90103, HUD 90104, HUD 90105-a, HUD 90105-b, HUD 90105-c, HUD 90105-d, HUD 90106. *Description of the Need for the Information and Its Proposed Use:* Collection of tenant data to ensure owners comply with Federal statues and regulation that
(1)establish policies on who may be admitted to subsidized housing;
(2)prohibit discrimination in conjunction with selection of tenants and units;
(3)specify how tenants' incomes and rents must be compiled. *Frequency of Submission:* On occasion, Annually. Number of respondents Annual responses × Hours per response = Burden hours Reporting Burden 6,936,897 0.71 0.39 1,920,431 *Total Estimated Burden Hours:* 1,920,431. *Status:* Revision of a currently approved collection. Authority: Section 3507 of the Paperwork Reduction Act of 1995, 44 U.S.C. 35, as amended. Dated: December 19, 2007. Lillian L. Deitzer, Departmental Paperwork Reduction Act Officer, Office of the Chief Information Officer. [FR Doc. E7-25146 Filed 12-27-07; 8:45 am] BILLING CODE 4210-67-P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5117-N-110] Notice of Proposed Information Collection: Comment Request; Subpoenas and Production in Response to Subpoenas or Demands of Courts or Other Authorities AGENCY: Office of Officer of the Chief Information Officer, HUD. ACTION: Notice. SUMMARY: The proposed information collection requirement described below will be submitted to the Office of Management and Budget
(OMB)for review, as required by the Paperwork Reduction Act. The Department is soliciting public comments on the subject proposal. DATES: *Comments due:* February 26, 2008. ADDRESSES: Interested persons are invited to submit comments regarding this proposal. Comments should refer to the proposal by name and/or OMB Control Number (2535-0119) and should be sent to: Lillian L. Deitzer, Reports Management Officer, QDAM, Department or Housing and Urban Development, 451 7th Street, SW., Room 4176, Washington, DC 20410; telephone: 202-708-2374, (this is not a toll-free number) or e-mail Ms. Deitzer at *Lillian_L._Deitzer@HUD.gov* for a copy of the proposed form and other available information. FOR FURTHER INFORMATION CONTACT: Lillian L. Deitzer, QDAM, Office of Policy and E-Government, Department of Housing and Urban Development, 451 Seventh Street, SW., Washington, DC 20410; telephone 202-708-2374 (this is not a toll-free number). SUPPLEMENTARY INFORMATION: The Department will submit the proposed information collection to OMB for review, as required by the Paperwork Reduction Act of 1995 (44 U.S.C. Chapter 35, as amended). This Notice is soliciting comments from members of the public and affecting agencies concerning the proposed collection of information to:
(1)Evaluate whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility;
(2)Evaluate the accuracy of the agency's estimate of the burden of the proposed collection of information;
(3)Enhance the quality, utility, and clarity of the information to be collected; and
(4)Minimize the burden of the collection of information on those who are to respond; including through the use of appropriate automated collection techniques or other forms of information technology, e.g., permitting electronic submission of responses. This Notice also lists the following information: *Title of Proposal:* Subpoenas and Production in Response to Subpoenas or Demands of Courts or Other Authorities. *OMB Control Number, if applicable:* 2535-0119. *Description of the need for the information and proposed use:* The requested information will detail the issues and reasons why a review of the Counsel's decision denying a request for documents or testimony is appropriate. *Agency form numbers, if applicable:* None. *Estimation of the total number of hours needed to prepare the information collection including number of respondents, frequency of response, and hours of response:* *Members of Affected Public:* Individuals or Households, Business or other for-profit, Not-for-profit Institutions, State, Local or Tribal government. Number of respondents Annual responses × Hours per response = Burden hours Reporting Burden 5 2 5 50 *Total Estimated Burden Hours:* 50. *Status of the proposed information collection:* Extension of a currently approved collection. Authority: Section 3506 of the Paperwork Reduction Act of 1995, 44 U.S.C. Chapter 35, as amended. Dated: December 19, 2007. Lillian L. Deitzer, Departmental Paperwork Reduction Act Officer, Office of the Chief Information Officer. [FR Doc. E7-25147 Filed 12-27-07; 8:45 am] BILLING CODE 4210-67-P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5117-N-109] Notice of Proposed Information Collection: Comment Request; Third-Party Documentation Facsimile Transmittal Form AGENCY: Office of Officer of the Chief Information Officer, HUD. ACTION: Notice. SUMMARY: The proposed information collection requirement described below will be submitted to the Office of Management and Budget
(OMB)for review, as required by the Paperwork Reduction Act. The Department is soliciting public comments on the subject proposal. DATES: *Comments due:* February 26, 2008. ADDRESSES: Interested persons are invited to submit comments regarding this proposal. Comments should refer to the proposal by name and/or OMB Control Number (2535-0118) and should be sent to: Lillian L. Deitzer, Reports Management Officer, QDAM, Department or Housing and Urban Development, 451 7th Street, SW., Room 4176, Washington, DC 20410; telephone: 202-402-8048, (this is not a toll-free number) or e-mail Ms. Deitzer at *Lillian_L._Deitzer@HUD.gov* for a copy of the proposed form and other available information. FOR FURTHER INFORMATION CONTACT: Lillian L. Deitzer, QDAM, Office of Policy and E-Government, Department of Housing and Urban Development, 451 Seventh Street, SW., Washington, DC 20410; telephone 202-708-2374 (this is not a toll-free number). SUPPLEMENTARY INFORMATION: The Department will submit the proposed information collection to OMB for review, as required by the Paperwork Reduction Act of 1995 (44 U.S.C. Chapter 35, as amended). This Notice is soliciting comments from members of the public and affecting agencies concerning the proposed collection of information to:
(1)Evaluate whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility;
(2)Evaluate the accuracy of the agency's estimate of the burden of the proposed collection of information;
(3)Enhance the quality, utility, and clarity of the information to be collected; and
(4)Minimize the burden of the collection of information on those who are to respond; including through the use of appropriate automated collection techniques or other forms of information technology, *e.g.* , permitting electronic submission of responses. *This Notice also lists the following information:* *Title of Proposal:* Third-Party Documentation Facsimile Transmittal Form. *OMB Control Number, if applicable:* 2535-0118. *Description of the need for the information and proposed use:* Facsimile transmittal information is necessary for submission of third-party documentation as part of an application for funding competitions. *Agency form numbers, if applicable:* Form HUD-96011. *Estimation of the total number of hours needed to prepare the information collection including number of respondents, frequency of response, and hours of response:* *Members of Affected Public:* Business or other for-profit, Not-for-profit institutions, State, Local or Tribal government. Number of respondents Annual responses × Hours per response = Burden hours Reporting Burden 33,000 1 10 3,300 *Total Estimated Burden Hours:* 3,300. *Status of the proposed information collection:* Extension of a currently approved collection. Authority: section 3506 of the Paperwork Reduction Act of 1995, 44 U.S.C. Chapter 35, as amended. Dated: December 19, 2007. Lillian L. Deitzer, Departmental Paperwork Reduction Act Officer, Office of the Chief Information Officer. [FR Doc. E7-25148 Filed 12-27-07; 8:45 am] BILLING CODE 4210-67-P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5030-FA-25] Notice of Funding Awards; Public Housing Family Self-Sufficiency for Fiscal Year 2006 AGENCY: Office of Public and Indian Housing, HUD. ACTION: Announcement of Funding Awards. SUMMARY: In accordance with Section 102(a)(4)(C) of the Department of Housing and Urban Development Reform Act of 1989, this announcement notifies the public of funding decisions made by the Department for funding under the FY 2006 Notice of Funding Availability
(NOFA)for the Public Housing
(PH)Family Self-Sufficiency Program funding for Fiscal Year 2006. This announcement contains the consolidated names and addresses of those award recipients selected for funding based on demonstrated performance. FOR FURTHER INFORMATION CONTACT: For questions concerning the FY 2006 PH Family Self-Sufficiency awards, contact the Office of Public and Indian Housing's Grant Management Center, Director, Iredia Hutchinson, Department of Housing and Urban Development, Washington, DC, telephone
(202)358-0221. For the hearing or speech impaired, these numbers may be accessed via TTY (text telephone) by calling the Federal Information Relay Service at 1
(800)877-8339. (Other than the “800” TTY number, these telephone numbers are not toll-free.) SUPPLEMENTARY INFORMATION: The authority for the $10,000,000 in four-year budget authority for ROSS PIH FSS program coordinators is found in the Transportation, Treasury, Housing and Urban Development, the Judiciary, the District of Columbia, and Independent Agencies Appropriations Act, FY2006 (Pub. L. 109-115). The allocation of housing assistance budget authority is pursuant to the provisions of 24 CFR part 791, subpart D, implementing section 213
(d)of the Housing and Community Development Act of 1974, as amended. Additionally, unobligated funds were added to the $10,000,000. This program is intended to promote the development of local strategies to coordinate the use of assistance with public and private resources to enable participating families to achieve economic independence and self-sufficiency. A Public and Indian Housing FSS Program Coordinator assures that program participants are linked to the supportive services they need to achieve self-sufficiency. The Fiscal Year 2006 awards announced in this Notice were selected for funding in a competition announced in **Federal Register** NOFA published on March 8, 2006 (71 FR. 3382). Applications were scored based on the selection criteria in that Notice and funding selections made based on demonstrated performance. In accordance with Section 102(a)(4)(C) of the Department of Housing and Urban Development Reform Act of 1989 (103 Stat. 1987, 42 U.S.C. 3545), the Department is publishing the names, addresses, and amounts of the 173 awards made under the Public Housing Family Self-Sufficiency competition. Dated: December 10, 2007. Orlando J. Cabrera, Assistant Secretary for Public and Indian Housing. Appendix A.—Fiscal Year 2006 Funding Awards for the PH Family Self Sufficiency Program Jefferson County Housing Authority 3700 Industrial Parkway Birmingham AL 35217 $50,943 Mobile Housing Board 151 South Claiborne Street Mobile AL 36602 51,119 The City of Montgomery Housing Authority 1020 Bell Street Montgomery AL 36104 39,830 The Housing Authority of The City of Huntsville 200 Washington Street Huntsville AL 35804-0486 65,000 Tuscaloosa Housing Authority P.O. Box 2281 Tuscaloosa AL 35403-2281 37,560 Housing Authority of the City of West Memphis 2820 Harrison Street West Memphis AR 72301-6099 39,500 City of Phoenix Housing Department 251 West Washington, 4th Floor Phoenix AZ 85003 65,000 City of Tucson P.O. Box 27210 310 North Commerce Park Loop Tucson AZ 85726-7210 26,007 Housing Authority of the City of Yuma 420 South Madison Avenue Yuma AZ 85364 55,493 Housing Authority of the City of Madera 205 North G Street Madera CA 93637 48,307 Housing Authority of the City of San Buenaventura 995 Riverside Street Ventura CA 93001-1636 65,000 Housing Authority of the City of San Luis Obispo 487 Leff Street San Luis Obispo CA 93401 48,531 Housing Authority of the City of Santa Barbara 808 Laguna Street Santa Barbara CA 93101 65,000 Housing Authority of the County of Kern 601-24th Street Bakersfield CA 93301 59,135 Housing Authority of the County of Marin 4020 Civic Center Drive San Rafael CA 94903 65,000 Housing Authority of the County of San Bernardino 715 East Brier Drive San Bernardino CA 92408-2841 65,000 Housing Authority of the County of San Joaquin P.O. Box 447 Stockton CA 95201 160,518 Housing Authority of the County of Stanislaus 1701 Robertson Road Modesto CA 95358-0033 65,000 San Diego Housing Commission 1650 Newton Avenue San Diego CA 92113 130,000 Adams County Housing Authority 7190 Colorado Boulevard Commerce City CO 80022 65,000 Boulder Housing Partners aba Housing Authority Boulder City 4800 Broadway Boulder CO 80304 61,700 Fort Collins Housing Authority 1715 West Mountain Avenue Fort Collins CO 80521 62,636 Housing Authority of the City & County of Denver 777 Grant Street Denver CO 80203 216,120 Housing Authority of the City of New Haven P.O. Box 1912 360 Orange Street New Haven CT 06509-1912 55,516 Housing Authority of the City of Norwalk P.O. Box 508 24 1/2 Monroe Street Norwalk CT 06856-0508 65,000 Meriden Housing Authority 22 Church Street Meriden CT 06451 52,015 The Housing Authority City of Stamford 22 Clinton Avenue Stamford CT 06904 65,000 Dover Housing Authority 76 Stevenson Drive Dover DE 19901 36,515 Fort Pierce Housing Authority 707 North 7th Street Fort Pierce FL 34950 44,000 Hialeah Housing Authority 75 East 6th Street Hialeah FL 33010 36,875 Housing Authority of Brevard County 615 Kurek Court Merritt Island FL 32953 51,582 Housing Authority of Lakeland 430 Hartsell Avenue Lakeland FL 33815 46,276 Housing Authority of the City of Fort Myers 4224 Michigan Avenue Fort Myers FL 33916 53,391 Housing Authority of the City of Tampa 1514 Union Street Tampa FL 33607 60,058 Jacksonville Housing Authority 1300 Broad Street Jacksonville FL 32202 42,385 Tallahassee Housing Authority 2940 Grady Road Tallahassee FL 32312-2198 28,253 The Housing Authority of the City of Bradenton, Florida 1307 6th Street West Bradenton FL 34205 45,450 The Housing Authority of The City of Daytona Beach 211 North Ridgewood Avenue Suite 200 Daytona Beach FL 32114 40,000 West Palm Beach Housing Authority 1715 Division Avenue West Palm Beach FL 33407 35,723 Housing Authority of the City of Albany, GA P.O. Box 485 521 Pine Avenue Albany GA 31702 27,398 Macon Housing Authority 2015 Felton Avenue Macon GA 31201-4928 57,990 Northwest Georgia Housing Authority 800 North Fifth Avenue Rome GA 30162 36,207 Housing and Community Development Corporation of Hawaii 677 Queen Street, Suite 300 Honolulu HI 96813 45,011 City of Des Moines, Municipal Housing Agency 100 East Euclid, Suite 101 Des Moines IA 50313-4534 29,382 Eastern Iowa Regional Housing Authority 3999 Pennsylvania Avenue, Suite 200 Dubuque IA 52002 61,083 Nampa Housing Authority 211 19th Avenue North Nampa ID 83687 39,007 Housing Authority of Champaign County 205 West Park Avenue Champaign IL 61820 33,487 Macoupin County Housing Authority 760 Anderson Street Carlinville IL 62626 40,170 Peoria Housing Authority 100 South Richard Pryor Place Peoria IL 61605 46,673 Quincy Housing Authority 540 Harrison Quincy IL 62301 45,000 Rockford Housing Authority 223 South Winnebago Street Rockford IL 61102 61,274 Housing Authority of Delaware County, Indiana 2401 South Haddix Avenue Muncie IN 47302-7547 48,315 Housing Authority of the City of Terre Haute P.O. Box 3086 One Dreiser Square Terre Haute IN 47803-0086 58,160 Indianapolis Housing Agency 1919 North Meridian Indianapolis IN 46202-1303 58,500 New Albany Housing Authority P.O. Box 11 New Albany IN 47151-0011 114,800 Lawrence-Douglas County Housing Authority 1600 Haskell Avenue Lawrence KS 66044 57,008 Manhattan Housing Authority P.O. Box 1024 300 North 5th Street Manhattan KS 66505-1024 58,580 Housing Authority of Bowling Green 247 Double Springs Road Bowling Green KY 42101 45,000 Louisville Metro Housing Authority 420 South Eighth Street Louisville KY 40203 62,862 Housing Authority of Jefferson Parish 1718 Betty Street Marrero LA 70072 42,000 Holyoke Housing Authority 475 Maple Street, Suite One Holyoke MA 01040 43,693 Lynn Housing Authority 10 Church Street Lynn MA 01902 47,156 Quincy Housing Authority 80 Clay Street Quincy MA 02170 60,000 Housing Authority of Baltimore City 417 East Fayette Street Baltimore MD 21202 64,890 Housing Authority of St. Mary's County P.O. Box 653 41650 Tudor Hall Road Leonardtown MD 20650 51,932 Housing Authority Washington County P.O. Box 2944 44 North Potomac Street Hagerstown MD 21740-2944 4,268 Housing Commission of Anne Arundel County 7477 Baltimore-Annapolis Boulevard Glen Burnie MD 21146 63,000 Housing Opportunities Commission 10400 Detrick Avenue Kensington MD 20895 125,406 Rockville Housing Enterprises 621A South Lawn Lane Rockville MD 20850 60,852 The Housing Authority of the City of Hagerstown 35 West Baltimore Street Hagerstown MD 21740 94,929 Lewiston Housing Authority 1 College Street Lewiston ME 04240 15,859 Portland Housing Authority 14 Baxter Boulevard Portland ME 04101 17,020 The Housing Authority of the City of Brewer 15 Colonial Circle, Suite 1 Brewer ME 04412-1475 46,941 Grand Rapids Housing Commission 1420 Fuller Avenue Southeast Grand Rapids MI 49507 64,236 Muskegon Housing Commission 1080 Terrace Muskegon MI 49442 42,460 Saginaw Housing Commission P.O. Box 3225 1803 Norman Street Saginaw MI 48605-3225 46,790 Housing and Redevelopment Authority of Virginia Post Office Box 1148 Pine Mill Court Virginia MN 55792 51,359 Washington County Housing and Redevelopment Authority 321 Broadway Avenue Saint Paul Park MN 55071 25,986 Housing Authority of Kansas City, Missouri 301 East Armour Boulevard, Suite 200 Kansas City MO 64111 46,865 St. Louis Housing Authority 4100 Lindell Boulevard St. Louis MO 63108 64,890 Natchez Housing Authority 2 Auburn Avenue Natchez MS 39120 44,460 The Housing Authority of the City of Biloxi P.O. Box 447 330 Benachi Avenue Biloxi MS 39533-0447 41,000 The Housing Authority of the City of Meridian 2425 E Street Meridian MS 39301 47,396 Burlington Housing Authority P.O. Box 2380 133 North Ireland Street Burlington NC 27216-2380 53,523 City of Concord Housing Department P.O. Box 308 283 Harold Goodman Circle Concord NC 28026-0308 43,152 Gastonia Housing Authority P.O. Box 2398 340 West Long Avenue Gastonia NC 28053-2398 48,120 Greensboro Housing Authority 450 North Church Street Greensboro NC 27401 58,320 Housing Authority of the City of Asheville, NC 165 South French Board Avenue Asheville NC 28801 55,000 Housing Authority of the City of Durham 330 East Main Street Durham NC 27701 65,000 Housing Authority of the City of Greenville 1103 Broad Street Greenville NC 27834 53,640 Housing Authority of the City of High Point 500 East Russell Avenue High Point NC 27261 95,837 Housing Authority of the City of Kinston, North Carolina 608 North Queen Street Kinston NC 28501 41,721 Housing Authority of the City of Winston-Salem 500 West 4th Street, Suite 300 Winston-Salem NC 27101 53,030 Lexington Housing Authority P.O. Box 1085 1 Jamaica Drive Lexington NC 27293 51,591 Statesville Housing Authority 110 West Allison Street Statesville NC 28677 92,110 Housing Authority of the City of Lincoln, Nebraska 5700 R Street Lincoln NE 68505 62,740 Housing Authority of the City of Omaha 540 South 27th Street Omaha NE 68105 39,749 Kearney Housing Agency 2715 Avenue I OFC Kearney NE 68847 46,349 Keene Housing Authority 831 Court Street Keene NH 03431 45,535 Atlantic City Housing Authority P.O. Box 1258 227 North Vermont Avenue, 17th Floor Atlantic City NJ 08401 51,591 Millville Housing Authority P.O. Box 803 309 Buck Street Millville NJ 08332 22,372 City of Albuquerque Housing Services 1840 University Boulevard Southeast Albuquerque NM 87106 65,000 Clovis Housing & Redevelopment Agency, Inc P.O. Box 1240 2101 West Grand Avenue Clovis NM 88101 40,000 Santa Fe Civic Housing Authority 664 Alta Vista Street Santa Fe NM 87505 51,164 Santa Fe County Housing Authority 52 Camino de Jacobo Santa Fe NM 87507-3546 50,277 Taos County Housing Authority Box 4239 NDCBU 505 Ranchitos Road Taos NM 87571 46,000 Truth or Consequences Housing Authority 108 Cedar Avenue Truth or Consequences NM 87901 9,571 Housing Authority of the City of Las Vegas 340 North 11th Street Las Vegas NV 89101 125,886 Housing Authority of the City of Reno 1525 East 9th Street Reno NV 89512-3012 25,820 Housing Authority of the County of Clark, Nevada 5390 East Flamingo Road Las Vegas NV 89122 49,000 Buffalo Municipal Housing Authority 300 Perry Street Buffalo NY 14204 63,048 Cohoes Housing Authority 100 Manor Sites Cohoes NY 12047 13,861 Geneva Housing Authority P.O. Box 153 41 Lewis Street Geneva NY 14456 59,479 Monticello Housing Authority 76 Evergreen Drive Monticello NY 12701 34,677 Municipal Housing Authority of the City of Schenectady 375 Broadway Schenectady NY 12305 50,822 New Rochelle Municipal Housing Authority 50 Sickles Avenue New Rochelle NY 10801 64,890 Akron Metropolitan Housing Authority 100 West Cedar Street Akron OH 44307 116,891 Butler Metropolitan Housing Authority 4110 Hamilton-Middletown Road Hamilton OH 45011 65,000 Chillicothe Metropolitan Housing Authority 178 West Fourth Street Chillicothe OH 45601 22,032 Lorain Metropolitan Housing Authority 1600 Kansas Avenue Lorain OH 44052 42,000 Trumbull Metropolitan Housing Authority 4076 Youngstown Road Southeast, Suite 101 Warren OH 44484 44,496 Youngstown Metropolitan Housing Authority 131 West Boardman Street Youngstown OH 44503 56,067 Zanesville Metropolitan Housing Authority 407 Pershing Road Zanesville OH 43701 48,532 Housing Authority of the City of Lawton, Oklahoma 609 Southwest F Avenue Lawton OK 73501 31,521 Housing Authority of the City of Muskogee 220 North 40th Street Muskogee OK 74401 40,000 Housing Authority of the City of Shawnee, OK P.O. Box 3427 601 West 7th Street Shawnee OK 74802-3427 91,908 Housing Authority of the City of Tulsa 415 East Independence Street Tulsa OK 74106 31,513 Housing and Community Services Agency of Lane County 177 Day Island Road Eugene OR 97401 65,000 Housing Authority & Urban Renewal Agency of Polk County P.O. Box 467 Dallas OR 97338 14,390 Housing Authority of Jackson County 2251 Table Rock Road Medford OR 97501 34,404 Housing Authority of Portland (Oregon) 135 Southwest Ash Street Portland OR 97204 193,189 Housing Authority of the City of Salem 360 Church Street Southeast Salem OR 97301 64,180 Umatilla Reservation Housing Authority 51 Umatilla Loop Pendleton OR 97801 65,000 Allegheny County Housing Authority 625 Stanwix Street, 12th Floor Pittsburgh PA 15222 64,302 Housing Authority of Northumberland County 50 Mahoning Street Milton PA 17847 49,160 Housing Authority of the City of York P.O. Box 1963 31 South Broad Street York PA 17403 41,436 Philadelphia Housing Authority 12 South 23rd Street, 6th Floor Philadelphia PA 19103 65,000 Westmoreland County Housing Authority 154 South Greengate Road Greensburg PA 15601-9308 38,746 Housing Authority of the City of Providence 100 Broad Street Providence RI 02903 65,000 North Charleston Housing Authority 2170 Ashley Phosphate Road, Suite 700 North Charleston SC 29406 48,000 The Housing Authority City of Charleston 550 Meeting Street Charleston SC 29403 47,157 The Housing Authority of the City of Greenville, SC 511 Augusta Street Greenville SC 29605 32,057 The Housing Authority of the City of Spartanburg 201 Caulder Avenue Spartanburg SC 29306 47,250 Crossville Housing Authority P.O. Box 425 Crossville TN 38557 51,500 Jackson Housing Authority 125 Preston Street Jackson TN 38301 86,208 Kingsport Housing & Redevelopment Authority P.O. Box 44 Kingsport TN 37662 53,821 Metropolitan Development & Housing Agency 701 South 6th Street Nashville TN 37206 122,236 City of San Marcos Housing Authority 1201 Thorpe Lane San Marcos TX 78666 37,380 Housing Authority of the City of Austin P.O. Box 6159 Austin TX 78762-6159 97,190 Housing Authority of the City of Beaumont 1890 Laurel Beaumont TX 77701 27,766 Housing Authority of the City of Fort Worth 1201 East 13th Street Fort Worth TX 76102 65,000 Housing Authority of the City of Waco P.O. Box 978 4400 Cobbs Drive Waco TX 76703-0978 48,281 Housing Authority of the County of Hidalgo 1800 North Texas Boulevard Weslaco TX 78596 37,080 The Housing Authority of the City of Dallas, Texas
(DHA)3939 North Hampton Road Dallas TX 75212 45,981 The Housing Authority of the City of San Antonio 818 South Flores Street San Antonio TX 78204 292,262 Housing Authority of Salt Lake City 1776 South West Temple Salt Lake City UT 84115 53,000 Housing Authority of the County of Salt Lake 3595 South Main Street Salt Lake City UT 84115 57,880 Chesapeake Redevelopment & Hsg. Authority 1468 South Military Highway Chesapeake VA 23320 46,978 Danville Redevelopment and Housing Authority 651 Cardinal Place Danville VA 24541 43,260 Fairfax County Redevelopment and Housing Authority 3700 Pender Drive, Suite 300 Fairfax VA 22030 64,890 Harrisonburg Redevelopment and Housing Authority 286 Kelley Street Harrisonburg VA 22802 17,660 Newport News Redevelopment and Housing Authority P.O. Box 797 227 27th Street Newport News VA 23607 46,000 Norfolk Redevelopment & Housing Authority 201 Granby Street Norfolk VA 23510 130,000 Portsmouth Redevelopment & Housing Authority 801 Water Street 2nd Floor Portsmouth VA 23704 49,170 Richmond Redevelopment Housing Authority P.O. Box 26887 901 Chamberlayne Parkway Richmond VA 23261-6887 65,000 Roanoke Redevelopment and Housing Authority 2624 Salem Turnpike, Northwest Roanoke VA 24017 101,731 Waynesboro Redevelopment and Housing Authority P.O. Box 1138 1700 New Hope Road Waynesboro VA 22980 39,404 Housing Authority of the City of Bremerton 110 Russell Road Bremerton WA 98312 43,252 Housing Authority of the City of Tacoma 902 South L Street Tacoma WA 98405 53,629 Seattle Housing Authority P.O. Box 19028 120 6th Avenue North Seattle WA 98109-1028 55,563 Charleston Housing Authority 911 Michael Avenue Charleston WV 25312 41,996 Parkersburg Housing Authority 1901 Cameron Avenue Parkersburg WV 26101 38,411 Wheeling Housing Authority P.O. Box 2089 11 Community Street Wheeling WV 26003 43,010 Housing Authority of the City of Cheyenne 3304 Sheridan Street Cheyenne WY 82009 32,398 [FR Doc. E7-25149 Filed 12-27-07; 8:45 am] BILLING CODE 4210-67-P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5125-N-52] Federal Property Suitable as Facilities to Assist the Homeless AGENCY: Office of the Assistant Secretary for Community Planning and Development, HUD. ACTION: Notice. SUMMARY: This Notice identifies unutilized, underutilized, excess, and surplus Federal property reviewed by HUD for suitability for possible use to assist the homeless. EFFECTIVE DATE: December 28, 2007. FOR FURTHER INFORMATION CONTACT: Kathy Ezzell, Department of Housing and Urban Development, 451 Seventh Street, SW., Room 7262, Washington, DC 20410; telephone
(202)708-1234; TTY number for the hearing- and speech-impaired
(202)708-2565, (these telephone numbers are not toll-free), or call the toll-free Title V information line at 800-927-7588. SUPPLEMENTARY INFORMATION: In accordance with the December 12, 1988 court order in *National Coalition for the Homeless* v. *Veterans Administration,* No. 88-2503-OG (D.D.C.), HUD publishes a Notice, on a weekly basis, identifying unutilized, underutilized, excess and surplus Federal buildings and real property that HUD has reviewed for suitability for use to assist the homeless. Today's Notice is for the purpose of announcing that no additional properties have been determined suitable or unsuitable this week. Dated: December 20, 2007. Mark R. Johnston, Deputy Assistant Secretary for Special Needs. [FR Doc. E7-25137 Filed 12-27-07; 8:45 am] BILLING CODE 4210-67-P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5030-FA-33] Notice of Funding Awards; Public Housing Neighborhood Networks for Fiscal Year 2006 AGENCY: Office of Public and Indian Housing, HUD. ACTION: Announcement of Funding Awards. SUMMARY: In accordance with Section 102(a)(4)(C) of the Department of Housing and Urban Development Reform Act of 1989, this announcement notifies the public of funding decisions made by the Department for funding under the FY 2006 Notice of Funding Availability
(NOFA)for the Public Housing Neighborhood Networks Program funding for Fiscal Year 2006. This announcement contains the consolidated names and addresses of those award recipients selected for funding based on the rating and ranking of all applications. FOR FURTHER INFORMATION CONTACT: For questions concerning the FY 2006 Public Housing Neighborhood Networks awards, contact the Office of Public and Indian Housing's Grants Management Center, Director, Iredia Hutchinson, Department of Housing and Urban Development, Washington, DC, telephone
(202)358-0221. For the hearing or speech impaired, these numbers may be accessed via TTY (text telephone) by calling the Federal Information Relay Service at
(800)877-8339. (Other than the “800” TTY number, these telephone numbers are not toll-free.) SUPPLEMENTARY INFORMATION: The authority for the $7,500,000 in four-year budget authority for Public Housing Neighborhood Networks technology centers is found in the Transportation, Treasury, Housing and Urban Development, the Judiciary, the District of Columbia, and Independent Agencies Appropriations Act, FY2006 (Pub. L. 109-115). The allocation of housing assistance budget authority is pursuant to the provisions of 24 CFR part 791, subpart D, implementing section 213
(d)of the Housing and Community Development Act of 1974, as amended. Additionally, unobligated funds were added to the $7,500,000. This program is intended to promote the development of local strategies to coordinate the use of assistance under the Public Housing Neighborhood Networks program with public and private resources to enable participating families to achieve economic independence and self-sufficiency. The Fiscal Year 2006 awards announced in this Notice were selected for funding in a competition announced in a **Federal Register** NOFA published on March 8, 2006 (71 FR. 3382). Applications were scored based on the selection criteria in that Notice and funding selections made based on the rating and ranking of applications within each State. In accordance with Section 102(a)(4)(C) of the Department of Housing and Urban Development Reform Act of 1989 (103 Stat. 1987, 42 U.S.C. 3545), the Department is publishing the names, addresses, and amounts of the 53 awards made under the Public Housing Neighborhood Networks competition. Dated: December 10, 2007. Orlando J. Cabrera, Assistant Secretary for Public and Indian Housing. Appendix A.—Fiscal Year 2006 Funding Awards for the PIH Neighborhood Networks Program Recipient Address City State Zip code Amount Alaska Housing Finance Corporation P.O. Box 101020, 4300 Boniface Parkway Anchorage AK 99510-1020 $199,905 Tuscaloosa Housing Authority 2808 10th Avenue Tuscaloosa AL 35403 200,000 City of Phoenix Housing Department 251 West Washington Street, 4th Floor Phoenix AZ 85003 350,000 Housing Authority of the City of Oxnard 435 South D Street Oxnard CA 93030 150,000 Housing Authority of the County of San Bernardino 715 East Brier Drive San Bernardino CA 92408-2841 399,000 San Diego Housing Commission 1650 Newton Street San Diego CA 92113 200,000 Housing Authority of the City & County of Denver 777 Grant Street Denver CO 80203 500,000 Meriden Housing Authority 22 Church Street Meriden CT 06451 150,000 The Housing Authority of the City of Norwalk 24 1/2 Monroe Street Norwalk CT 06856-0508 400,000 Housing Authority of the City of Fort Myers 4224 Michigan Avenue Fort Myers FL 33916 300,000 Housing Authority of Lakeland 430 Hartsell Avenue Lakeland FL 33815 100,000 Housing Authority of the City of Daytona Beach 211 North Ridgewood Avenue, Suite 200 Daytona Beach FL 32114 100,000 Jacksonville Housing Authority 1300 Broad Street Jacksonville FL 32202 150,000 Carrollton Housing Authority 1 Roop Street Carrollton GA 30117 150,000 Northwest Georgia Housing Authority 800 North Fifth Avenue Rome GA 30162 400,000 The Housing Authority of the City of Augusta, Georgia P.O. Box 3246, 1435 Walton Way Augusta GA 30914-3246 200,000 The Housing Authority of the City of Bloomington 104 East Wood Street Bloomington IL 61701 100,000 Winnebago County Housing Authority 2901 Searles Avenue Rockford IL 61101-2781 165,252 Housing Authority of Bowling Green 247 Double Springs Road Bowling Green KY 42101 150,000 Housing Authority of Murray 716 Nash Drive Murray KY 42071 150,000 Cambridge Housing Authority 675 Massachusetts Avenue Cambridge MA 02139 200,000 Springfield Housing Authority 25 Saab Court Springfield MA 01104 400,000 Housing Authority of Baltimore City 417 East Fayette Street Baltimore MD 21202 546,700 Portland Housing Authority 14 Baxter Boulevard Portland ME 04101-1822 200,000 Housing Authority of Kansas City, Missouri 301 East Armour Kansas City MO 64111 199,889 Natchez Housing Authority 2 Auburn Avenue Natchez MS 39120 150,000 City of Concord Housing Department P.O. Box 308, 283 Harold Goodman Circle Concord NC 28026-0308 300,000 Gastonia Housing Authority P.O. Box 2398, 340 West Long Avenue Gastonia NC 28053 150,000 Greensboro Housing Authority P.O. Box 21287, 450 North Church Street Greensboro NC 27420-1287 200,000 Housing Authority of the City of Greenville 1103 Broad Street Greenville NC 27834 163,950 Housing Authority of the City of Camden 1300 Admiral Wilson Boulevard Camden NJ 08102 199,985 Albany Housing Authority 200 South Pearl Street Albany NY 12202-1839 200,000 Municipal Housing Authority of the City of Schenectady 375 Broadway Schenectady NY 12305 200,000 New York City Housing Authority 250 Broadway New York NY 10007 600,000 Syracuse Housing Authority 516 Burt Street Syracuse NY 13202 399,930 Troy Housing Authority One Eddy's Lane Troy NY 12180 400,000 Cuyahoga Metropolitan Housing Authority 1441 West 25th Street Cleveland OH 44113 250,000 Dayton Metropolitan Housing Authority P.O. Box 8750, 400 Wayne Avenue Dayton OH 45401-8750 497,211 Housing Authority of the City of Tulsa P.O. Box 6369, 415 East Independence Street Tulsa OK 74148-0369 213,734 Allentown Housing Authority 1339 Allen Street Allentown PA 18192-2191 400,000 Housing Authority of the City of York P.O. Box 1963, 31 South Broad Street York PA 17403 200,000 Philadelphia Housing Authority 12 South 23rd Street Philadelphia PA 19103 300,000 Housing Authority of the City of Newport One York Street Newport RI 02840 128,834 Housing Authority of the City of El Paso 5300 Paisano Drive El Paso TX 79905 250,000 Housing Authority of the City of Fort Worth 1201 East 13th Street Fort Worth TX 76102 200,000 The Housing Authority of the City of Galveston, Texas 4700 Broadway Galveston TX 77551 250,000 Danville Redevelopment and Housing Authority 651 Cardinal Place Danville VA 24541 300,000 Fairfax County Redevelopment and Housing Authority 3700 Pender Drive, Suite 300 Fairfax VA 22030 200,000 Roanoke Redevelopment and Housing Authority 2624 Salem Turnpike, Northwest Roanoke VA 24017-0359 400,000 Housing Authority of the City of Tacoma 902 South L Street Tacoma WA 98405 200,000 King County Housing Authority 600 Andover Park West Tukwila WA 98188 350,000 Seattle Housing Authority P.O. Box 19028, 120 6th Avenue North Seattle WA 98109-1028 247,825 The Huntington WV Housing Authority P.O. Box 2183, 300 West Seventh Avenue Huntington WV 25722 325,255 [FR Doc. E7-25150 Filed 12-27-07; 8:45 am] BILLING CODE 4210-67-P DEPARTMENT OF THE INTERIOR Office of the Secretary Human Capital, Performance and Partnerships; National Invasive Species Council AGENCY: Office of the Secretary, Interior. ACTION: Notice of Availability—Draft of the 2008-2012 National Invasive Species Management Plan. SUMMARY: Pursuant to Executive Order 13112, the National Invasive Species Council
(NISC)is announcing the availability of the draft of the *2008-2012 National Invasive Species Management Plan* for a 45-day public comment period. The Order established NISC as an inter-agency council to prevent and control invasive species in order to minimize their economic, ecological and human health impacts. The Council, which is co-chaired by the Secretaries of Agriculture, Commerce and the Interior also includes the Departments of State, Defense, Transportation, Homeland Security, Treasury, Health and Human Services, as well as the Environmental Protection Agency, the U.S. Trade Representative, the U.S. Agency for International Development and the National Aeronautics and Atmospheric Administration. The Plan is intended to address invasive species in the areas of prevention, early detection and rapid response, control, restoration and organizational collaboration. Text of the *2008-2012 National Invasive Species Management Plan* is available in PDF format at *www.invasivespeciesinfo.gov* . DATES: All comments must be received by close of business on February 11, 2008. ADDRESSES: National Invasive Species Council, Office of the Secretary, 1849 C Street, NW., Washington, DC 20240. FOR FURTHER INFORMATION CONTACT: Kelsey Brantley, National Invasive Species Council Senior Program Analyst: E-mail: *Kelsey_Brantley@ios.doi.gov* ; Phone: 202-513-7243; Fax:
(202)371-1751. SUPPLEMENTARY INFORMATION: Executive Order 13112 on Invasive Species (EO 13112) was issued in 1999 and established the National Invasive Species Council
(NISC)which is co-chaired by the Secretaries of the Interior, Agriculture and Commerce. EO 13112 directed the Secretary of the Interior to establish an Invasive Species Advisory Committee
(ISAC)composed of diverse nonfederal stakeholders to advise NISC. The broad mission of NISC is to provide planning, coordination and national leadership to prevent and control the harmful impacts of invasive species to the economy, the environment as well as animal and human health. Section 5 of EO 13112 directed NISC to issue the National Invasive Species Management Plan, as well as to revise and update the Plan on a regular basis. The first version of the National Invasive Species Management Plan, “ *Meeting the Challenge* ”, was issued in January of 2001 (2001 Plan). The purpose of the Plan was to provide a general blueprint for federal action in coordination with State, local, Tribal, and private programs and international cooperation to prevent the introduction of invasive species, provide for their control and minimize the economic, environmental and human health impacts. This document is the first revision of the 2001 Plan, as mandated by EO 13112. The *2008-2012 National Invasive Species Management Plan (2008 Plan)* will provide direction for Federal efforts (including overall strategy and objectives) to prevent, control and minimize invasive species and their impacts within the next five
(5)fiscal years (2008 through 2012). If necessary, it may be updated more frequently to reflect changes in circumstances, agency plans and priorities. NISC member agencies, ISAC members, NISC staff, stakeholders and other experts have provided input in drafting this revision, which is intended to replace the 2001 Plan. Federal, State, local and Tribal governments, as well as the private sector, have taken significant steps to meet the challenges posed by invasive species. These steps set the stage for the 2008 Plan and provide direction and focus. An estimated 67% of the 2001 Plan's 57 action items have been completed or are in progress. However significant challenges remain and much remains to be done to prevent and control invasive species in a coordinated and cost efficient manner. Long-range strategic planning, consistent with other government agencies' strategic plans is necessary to address complex invasive species issues. The 2008 Plan establishes five, long-term Strategic Goals that focus Federal efforts in the areas of invasive species work related to:
(1)Prevention;
(2)Early Detection and Rapid Response;
(3)Control and Management;
(4)Restoration; and
(5)Organizational Collaboration. The Strategic Goals are ongoing and serve as guideposts for managing invasive species. Each Strategic Goal has an associated Strategic Action Plan with long-term Objectives and shorter-term Implementation Tasks and Performance Elements. Where practicable, Implementation Tasks define specific Performance Elements that can be used to gauge progress. Work in Research, Information and Data Management and International Cooperation (which were addressed in separate sections in the 2001 Plan) are elements critical to achieving each of the five Strategic Goals and are included in the pertinent sections of the 2008 Plan. The 2008 Plan is not a comprehensive list of all Federal invasive species actions. It is a targeted set of priority Strategic Action Plans and Objectives that are intended to be completed in the next five years. The accomplishment of specific Implementation Tasks and Performance Elements will be dependent upon agency budgets, and in some cases, legal or regulatory changes. Invasive species issues cannot be addressed by Federal programs and actions alone. As reflected in EO 13112, State, local, Tribal and private programs and policies are critical to success. Therefore, receiving public comment on this proposed 2008 Plan is an important component of any strategy to address and reduce the harmful impacts of invasive species. *Submitting Comments:* Text of the *2008-2012 National Invasive Species Management Plan* is available in PDF format at *www.invasivespeciesinfo.gov* . Printed copies of the Plan may be obtained by mail or e-mail request to the address below. Written comments should be addressed to Lori Williams, NISC Executive Director, U.S. Department of the Interior, Office of the Secretary, National Invasive Species Council (OS/NISC), 1849 C Street, NW., Washington, DC 20240. Comments can also be e-mailed to *invasivespecies@ios.doi.gov* . In order to be considered, comments must be received by close of business on February 11, 2008. Dated: December 20, 2007. Lori C. Williams, Executive Director. [FR Doc. E7-25262 Filed 12-27-07; 8:45 am] BILLING CODE 4310-RK-P DEPARTMENT OF THE INTERIOR Office of the Secretary Reaffirmation of Statement of Findings: Southern Arizona Water Rights Settlement Amendments Act of 2004 AGENCY: Office of the Secretary, Interior. ACTION: Notice of Statement of Findings in accordance with Title III of Public Law 108-451, and enactment of H.R. 3739 (Public Law Number forthcoming). SUMMARY: The Secretary of the Interior (Secretary) is publishing this notice in accordance with section 302(b) of the Southern Arizona Water Rights Settlement Amendments Act of 2004 (Settlement Amendments Act), Public Law 108-451, 118 Stat. 3536, 3571-72, and H.R. 3739 (Public Law Number forthcoming). Congress enacted the Settlement Amendments Act as Title III of the Arizona Water Settlements Act (AWSA), Public Law 108-451, 118 Stat. 3478 et seq. The publication of this notice causes the amendments to the Southern Arizona Water Rights Settlement Act of 1982 (1982 Act), Public Law 97-293, 96 Stat. 1274 (as amended), made by the Settlement Amendments Act to take effect. DATES: In accordance with section 302(b) of the Settlement Amendments Act, Title III of Public Law 108-451 and the amendments made by Title III are effective on December 14, 2007. FOR FURTHER INFORMATION CONTACT: Address all comments and requests for additional information to Deborah Saint, Chair, Arizona Water Settlements Implementation Team, Department of the Interior, Bureau of Reclamation, Lower Colorado Region, Native American Affairs Office, 400 N 5th Street, Suite 1470, Phoenix, AZ 85004.
(602)379-3199. SUPPLEMENTARY INFORMATION: The 1982 Act was enacted to resolve the water right claims of the San Xavier and Shuk Toak Districts of the Tohono O'odham Nation (Nation). Disagreement about the allocation of settlement benefits precluded implementation of the 1982 Act. On December 10, 2004, the Settlement Amendments Act was enacted as Title III of AWSA in order to resolve issues which precluded implementation of the 1982 Act. The purposes of the Settlement Amendments Act are:
(1)To authorize, ratify, and confirm the Tohono O'odham settlement agreement, the Tucson agreement, the Asarco agreement and related leases, and the FICO agreement;
(2)To authorize and direct the Secretary to execute and perform all obligations of the Secretary under those agreements; and
(3)To authorize the actions and appropriations necessary for the United States to meet its obligations under those agreements and the Settlement Amendments Act. In order for the Settlement Amendments Act and its amendments to be effective and enforceable, the Secretary is required to make a statement of findings that certain conditions have been met. The Secretary signed such a Statement of Findings on December 10, 2007, and such findings were published in the **Federal Register** on December 14, 2007 (72 FR 71145, Dec. 14, 2007). Subsequent to the Secretary's signing of the Statement of Findings, Congress passed H.R. 3739 (Public Law Number forthcoming), which was signed into law by the President on December 21, 2007. This **Federal Register** Notice reaffirms the Statement of Findings in light of the enactment of H.R. 3739 and includes a technical correction in light of an inadvertent typographical error. Statement of Findings In accordance with section 302(b) of the Settlement Amendments Act, I find as follows: 1. The Tohono O'odham settlement agreement has been revised to eliminate any conflicts with the Settlement Amendments Act and, as so revised, has been executed by the parties and the Secretary. 2. The Secretary and other parties to the Tucson agreement, the Asarco agreement and the FICO agreement described in section 309(h)(2) Settlement Amendments Act (as contained in the amendment made by section 301) have executed those agreements. 3. The Secretary has approved the interim allottee water rights code described in section 308(b)(3)(A) of the Settlement Amendments Act (as contained in the amendment made by section 301). 4. Final dismissal with prejudice has been entered in the Alvarez case and the Tucson case on the sole condition that this Statement of Findings be published. 5. The State court having jurisdiction over the Gila River Adjudication proceedings has approved the judgment and decree attached to the Tohono O'odham settlement agreement as exhibit 17.1. 1 1 Substantive modification to correspond to the provisions of H.R. 3739, signed into law by the President on December 21, 2007 (Public Law No. forthcoming, __Stat.__(2007)). 6. Implementation costs totaling $24,068,400, as specified in section 302(b)(6) of the Settlement Amendments Act, have been identified and retained in the Lower Colorado River Basin Development Fund. 7. The State of Arizona has enacted legislation that qualifies the Nation to earn long-term storage credits under the Asarco agreement; implements the San Xavier groundwater protection program in accordance with paragraph 8.8 of the Tohono O'odham settlement agreement; enables the State to assist the Secretary in firming Central Arizona Project water pursuant to section 306(b); and confirms the jurisdiction of the State court having jurisdiction over Gila River Adjudication proceedings and decrees to carry out the provisions of sections 312(d) and 312(h) of the Settlement Amendments Act (as contained in the amendment made by section 301). 8. The Secretary and the State of Arizona have agreed to an acceptable schedule as referred to in section 105(b)(2)(C) of AWSA. 2 2 Technical correction in light of an inadvertent typographical error. The reference to “15,000 acre-feet” incorrectly referenced the firming obligation for the benefit of the Gila River Indian Community found at section 105(b)(2)(A) of AWSA. 9. Final judgment has been entered in Central Arizona Water Conservation District v. United States (No. CIV 95-625-TUC-WDB (EHC), No. CIV 95-1720-PHX-EHC) (Consolidated Action) in accordance with the repayment stipulation in that case. Dated: December 21, 2007. Dirk Kempthorne, Secretary of the Interior. [FR Doc. E7-25290 Filed 12-27-07; 8:45 am] BILLING CODE 4310-MN-P DEPARTMENT OF THE INTERIOR Bureau of Land Management [WO-350-1430-PE-24 1A] Extension of Approved Information Collection, OMB Control Number 1004-0009 AGENCY: Bureau of Land Management, Interior. ACTION: Notice and request for comments. SUMMARY: The Bureau of Land Management
(BLM)has submitted an Information Collection Request
(ICR)to OMB for review and approval. The ICR is scheduled to expire on December 31, 2007. The BLM may not conduct or sponsor and a person is not required to respond to a collection of information unless it displays a currently valid OMB control number. However, under OMB regulations, the BLM may continue to conduct or sponsor this information collection while it is pending at OMB. On June 21, 2006, the BLM published a notice in the **Federal Register** (71 FR 35698) requesting comment on this information collection. The comment period ended on August 21, 2006. The BLM received no comments. You may obtain copies of the collection of information and related forms and explanatory material by contacting the BLM Information Collection Clearance Officer at the telephone number listed in the ADDRESSES section below. DATES: The OMB is required to respond to this request within 60 days but may respond after 30 days. Submit your comments to OMB at the address below by January 28, 2008 to receive maximum consideration. ADDRESSES: Send your comments and suggestions on this ICR to the Desk Officer for the Department of the Interior at OMB-OIRA at
(202)395-6566
(fax)or *OIRA_DOCKET@OMB.eop.gov* (e-mail). Please provide a copy of your comments to Alexandra Ritchie, Information Collection Clearance Officer, Bureau of Land Management, at U.S. Department of the Interior, Bureau of Land Management, Mail Stop 401LS, 1849 C Street, NW., Washington, DC 20240. Additionally, you may contact Alexandra Ritchie regarding this ICR at
(202)452-0388 (phone);
(202)653-5287 (fax); or *Alexandra_Ritchie@blm.gov* (e-mail). FOR FURTHER INFORMATION CONTACT: For program-related questions, contact Alzata L. Ransom, Realty Use Group, on
(202)452-7772 (Commercial or FTS). Persons who use a telecommunications device for the deaf
(TDD)may call the Federal Information Relay Service
(FIRS)at 1-800-877-8330, 24 hours a day, 7 days a week, to contact Ms. Ransom. For questions regarding this ICR or the information collection process, contact Alexandra Ritchie by phone, mail, fax, or e-mail (see ADDRESSES ). SUPPLEMENTARY INFORMATION: *OMB Control Number:* 1004-0009. *Title:* Land Use Application and Permit, 43 CFR 2920. *Bureau Form Number:* 2920-1. *Type of Request:* Extension of currently approved collection. *Affected Public:* Private Citizens, Businesses, and State and Local Governments. *Respondent's Obligation:* Required to obtain or retain a benefit. *Frequency of Collection:* On occasion. *Estimated Annual Number of Responses:* 519. *Estimated Time per Response:* 1 hour per response for land use authorizations that will cause little or no damage to the public lands and resources; 120 hours for authorizations that may cause considerable damage or disturbance to the public lands and resources. *Estimated Total Annual Burden Hours:* 1,709. *Abstract:* The BLM uses the information to allow State and local governments, businesses, and private citizens to use, occupy, or develop the public lands under certain conditions. Land uses that may be authorized are: agricultural development, residential (under certain conditions), recreation concessions (under certain conditions), and business, industrial, and commercial. The types of land uses include commercial filming, advertising displays, commercial or noncommercial croplands, apiaries, livestock, holding or feeding areas not related to grazing permits and leases, harvesting of native or introduced species, temporary or permanent facilities for commercial purposes (does not include mining claims), ski resorts, construction equipment storage sites, assembly yards, oil rig stacking sites, mining claim occupancy if the residential structures are not incidental to the mining operation, and water pipelines and well pumps related to irrigation and non-irrigation facilities. We estimate that it will take a respondent 1 hour to complete an application for a land use authorization that will cause little or no damage or disturbance to the public lands and resources. Ninety-eight percent of land use authorization respondents are in this category. It will take a respondent 120 hours to complete an application for complex land use authorization proposals that will cause considerable damage or disturbance to the public lands and resources. Two percent of land use authorization respondents are in this category. The majority of the complex land use authorizations are from the major motion picture film industry. The BLM did not receive any responses in this last category during the current collection period. The average annual application processing fee for this entire collection (complex and less complex authorization proposals) is $148,933.28. We again specifically request your comments on the following: 1. Whether the collection of information is necessary for the proper functioning of the BLM, including whether the information will have practical utility; 2. The accuracy of BLM's estimate of the burden of collecting the information, including the validity of the methodology and assumptions used; 3. The quality, utility and clarity of the information we collect; and 4. How to minimize the burden of collecting the information on those who are to respond, including the use of appropriate automated electronic, mechanical, or other forms of information technology. Comments that you submit in response to this notice are a matter of public record. Before including your address, phone number, e-mail address, or other personal identifying information in your comment, you should be aware that your entire comment, including your personal identifying information, may be made publicly available at any time. While you can ask OMB in your comment to withhold your personal identifying information from public review, we cannot guarantee that it will be done. Dated: December 21, 2007. Alexandra Ritchie, Bureau of Land Management, Information Collection Clearance Officer. [FR Doc. E7-25217 Filed 12-27-07; 8:45 am] BILLING CODE 4310-84-P DEPARTMENT OF THE INTERIOR Bureau of Land Management [WY-100-05-1310-DB] Notice of Availability of a Revised Draft Supplemental Environmental Impact Statement for the Pinedale Anticline Oil and Gas Exploration and Development Project, Sublette County, WY AGENCY: Bureau of Land Management, Interior. ACTION: Notice of Availability. SUMMARY: In accordance with the National Environmental Policy Act (NEPA, 42 U.S.C. 4321 *et seq.* ) of 1969, the Bureau of Land Management
(BLM)announces the availability of a Revised Draft Supplemental Environmental Impact Statement for long-term development of natural gas resources in the Pinedale Anticline Project Area (PAPA). The BLM released a Draft Supplemental Impact Statement (DSEIS) on December 15, 2006. The comment period for the DSEIS closed on April 6, 2007. Based upon public comments, BLM is reissuing a Revised Draft Supplemental Environmental Impact Statement (RDSEIS) to include the analysis of two additional alternatives. The RDSEIS includes the three alternatives that were analyzed in the original draft: the no action, proposed action, and the BLM preferred alternative. It also includes two additional alternatives: One based upon the comments BLM received from oil and gas proponents and the State of Wyoming Game and Fish; and an additional alternative which analyzes full field development with current wildlife timing stipulations in place. The first added alternative analyzes the effects of continued development activities during winter under relaxed wildlife timing stipulations within a core area of the PAPA. In addition, leases on the East and West flanks of the PAPA are proposed to be placed in suspense to offset affected winter habitat in the core development areas. A wildlife matrix and mitigation fund has been incorporated into this alternative to address on and off-site mitigation. The second added alternative analyzes the effects of full field development with wildlife timing stipulations carried forward from the 2000 PAPA ROD and subsequent PAPA decision documents. This alternative would allow for the development of 4399 wells, the level of development currently considered necessary to effectively recover the oil and gas resources. In addition to the two new alternatives, the RDSEIS will analyze pace of development. This analysis will show levels of impact associated with the number of rigs operating at any one time in the PAPA. DATES: This notice initiates the public comment process. The BLM can best use public input if comments and resources information are submitted within 45 days of the publication of this notice. ADDRESSES: Please send written comments or resource information to the Bureau of Land Management, Pinedale Field Office, Caleb Hiner, Project Manager, 432 East Mill Street, P.O. Box 768, Pinedale, Wyoming 82941. Electronic mail may be sent to: *WYMail_PAPA_YRA@blm.gov* . The RDSEIS will be posted at *http://www.blm.gov/wy/st/en/info/NEPA/pfodocs/anticline/seis.html* when available. Your response is important and will be considered in the environmental analysis process. If you do respond, we will keep you informed of decisions resulting from this analysis. Please note that public comments and information submitted regarding this project including names, e-mail addresses and street addresses of the respondents will be available for public review and disclosure at the above address during regular business hours (7:45 a.m. to 4:30 p.m., Monday through Friday, except holidays). Before including your address, phone number, e-mail address, or other personal identifying information in your comment, be advised that your entire comment—including your personal identifying information—may be made publicly available at any time. While you can ask us in your comment to withhold from public review your personal identifying information, we cannot guarantee that we will be able to do so. FOR FURTHER INFORMATION CONTACT: Bureau of Land Management, Caleb Hiner, Project Manager, 1625 West Pine, P.O. Box 768, Pinedale, Wyoming 82941. Mr. Hiner may also be reached by telephone at
(307)367-5352, or by sending an electronic message to: *caleb_hiner@blm.gov* . SUPPLEMENTARY INFORMATION: The BLM released a Draft SEIS on December 15, 2006, based on a proposal received for long-term development of natural gas resources in the PAPA from Questar Exploration and Production (Questar), Shell Exploration and Production Company (Shell), and Ultra Resources Inc. (Ultra). The Operators proposed to conduct year round drilling and completions in Concentrated Development Areas within a Core Development Area (coinciding with the Anticline Crest) in the PAPA. In 2000, the PAPA Record of Decision
(ROD)for development on the PAPA established seasonal restrictions on natural gas development to minimize adverse effects on wintering big game and sage grouse during breeding and nesting. The Operators proposed an additional 4,399 wells on approximately 10-acre bottom hole spacing from an additional 250 well pads to effectively recover the mineral resource. The proposed development included construction of new well pads and substantial expansion of existing well pads to allow for multiple wells drilled from a pad. The PAPA ROD established restrictions on when oil and gas development activities may occur. The NEPA document did not include analysis of the potential impacts of oil and gas development activities (specifically drilling and completions) to big game on crucial winter ranges during the period of November 15 through April 30. The air quality impact analysis considered a total of 900 wells drilled with 700 producing well pads. The PAPA ROD stated that if the level of development exceeds that analyzed in the Draft EIS, BLM would conduct additional environmental analysis. There are currently approximately 460 producing wells in the PAPA. In addition, the BLM has determined that there is a need for new pipeline corridors between the PAPA and processing plants in southwestern Wyoming. Therefore, the RDSEIS will also include analysis of new corridors. In addition, specific analysis is included in the RDSEIS for two additional gas sales pipelines from the PAPA, one to the Granger and Blacks Fork gas plants and one from the PAPA to the Opal and Pioneer gas plants. The BLM has identified the following resources that may be adversely impacted by the proposal: Surface and ground water resources; air quality; wildlife and their habitats; reclamation; visual resources; transportation; noxious weed control; grazing, cultural and paleontological resources; wetland and riparian resources; threatened and endangered animal and plant species; and socioeconomic resources. The BLM conducted NEPA analysis and issued a ROD for the Pinedale Anticline Oil and Gas Exploration and Development Project in July 2000. The BLM conducted this analysis in response to increasing numbers of operators requesting approval to drill and develop gas wells on the Pinedale Anticline. The NEPA document analyzed three alternatives with different levels of required mitigation and for each alternative there were three exploration and development scenarios based on the density and distribution of well pad development. The PAPA ROD established protection of big game crucial winter ranges from oil and gas developments (well drilling and completion) during the winter months. The PAPA ROD provided that the BLM could grant limited exceptions to this winter closure period based on current conditions such as presence of wintering animals or depth of snow cover. However, each exception was to be made on a case-by-case basis (annually) and usually with the requirement that should winter conditions prevail, those activities would cease. Starting in the winter 2002-2003, the BLM authorized Questar Exploration and Development Company (Questar) to continue gas development operations at one well pad within big game crucial winter range with the requirement that Questar work closely with the Wyoming Game and Fish Department in its study of impacts to the Sublette Mule Deer. In November 2004, the BLM issued a Decision Record allowing Questar to expand their development activities in crucial mule deer winter range during winter while continuing to support the Sublette Mule Deer Study (Questar Year-Round Drilling Proposal Environmental Assessment, November 2004). Since then other operators within the Pinedale Anticline have expressed interest in conducting gas development activities including year-round drilling within big game crucial winter range. In the summer of 2005, Anschutz, Shell, and Ultra submitted a proposal to the BLM for year-round drilling demonstration project on three well pads within their leaseholds during one year. In September 2005, BLM issued a Decision Record to allow them to proceed (ASU Year-Round Drilling Demonstration Project, September 2005). The Decision Record allowed each of the three operators to drill year-round on one well pad each on crucial winter range during the winter of 2005-2006. The result of that project led the Operators to the current proposal and to BLM's determination that a Supplemental EIS is necessary. The PAPA encompasses approximately 198,034 acres of primarily Federal lands (nearly 80 percent), and state and private land. Approximately 83 percent of the mineral estate underlying the PAPA is federally-owned. James K. Murkin, Acting Associate State Director. [FR Doc. E7-24955 Filed 12-27-07; 8:45 am] BILLING CODE 4310-22-P INTERNATIONAL TRADE COMMISSION [Investigation No. 337-TA-613] In the Matter of Certain 3G Mobile Handsets and Components; Notice of Commission Decision not to Review an Initial Determination Granting Complainants' Motion to Amend the Complaint and Notice of Investigation AGENCY: U.S. International Trade Commission. ACTION: Notice. SUMMARY: Notice is hereby given that the U.S. International Trade Commission has determined not to review an initial determination (“ID”) (Order No. 9) of the presiding administrative law judge (“ALJ”) granting complainants” motion to amend the complaint and notice of investigation in the above-captioned investigation. The above-captioned investigation has been consolidated with Inv. No. 337-TA-601, *Certain 3G Wideband Code Division Multiple Access (WCDMA) Handsets and Components Thereof* . FOR FURTHER INFORMATION CONTACT: Eric Frahm, Office of the General Counsel, U.S. International Trade Commission, 500 E Street, SW., Washington, DC 20436, telephone
(202)205-3107. Copies of non-confidential documents filed in connection with this investigation are or will be available for inspection during official business hours (8:45 a.m. to 5:15 p.m.) in the Office of the Secretary, U.S. International Trade Commission, 500 E Street, SW., Washington, DC 20436, telephone
(202)205-2000. General information concerning the Commission may also be obtained by accessing its Internet server at *http://www.usitc.gov* . The public record for this investigation may be viewed on the Commission's electronic docket
(EDIS)at *http://edis.usitc.gov* . Hearing-impaired persons are advised that information on this matter can be obtained by contacting the Commission's TDD terminal on
(202)205-1810. SUPPLEMENTARY INFORMATION: The subject initial determination concerns investigations which have now been consolidated: Inv. No. 337-TA-601 and Inv. No. 337-TA-613. The Commission instituted Inv. No. 337-TA-601 on April 27, 2007, based on a complaint by InterDigital Communications Corp. of King of Prussia, Pennsylvania and InterDigital Technology Corp. of Wilmington, Delaware (collectively, “InterDigital”) filed on March 23, 2007. 72 FR 21049. The complaint, as amended, alleged violations of section 337 of the Tariff Act of 1930 (19 U.S.C. 1337) in the importation into the United States, the sale for importation, and the sale within the United States after importation of certain 3G wideband code division multiple access (WCDMA) handsets and components thereof by reason of infringement of claim 7 of U.S. Patent No. 6,674,791; claims 1, 3, and 4 of U.S. Patent No. 6,693,579; claims 1, 2, 31, 32, and 59 of U.S. Patent No. 7,117,004; and claims 1, 3, 8, 9, and 11 of U.S. Patent No. 7,190,966. The notice of investigation named Samsung Electronics Co., Ltd. of Seoul, Korea; Samsung Electronics America, Inc. of Ridgefield Park, New Jersey; and Samsung Telecommunications America LLC of Richardson, Texas (collectively, “Samsung”) as respondents. The Commission instituted Inv. No. 337-TA-613 on September 11, 2007, based on a complaint by InterDigital filed on August 7, 2007. 72 FR 51838. The complaint, as amended, alleged violations of section 337 of the Tariff Act of 1930 (19 U.S.C. 1337) in the importation into the United States, the sale for importation, and the sale within the United States after importation of certain 3G mobile handsets and components by reason of infringement of claims 1-4 of U.S. Patent No. 6,693,579; claims 1, 2, 7-10, 14, 15, 21, 22, 24, 30-32, 34, 35, 46, 47, 49, 59, and 60 of U.S. Patent No. 7,117,004; and claims 1-3 and 6-12 of U.S. Patent No. 7,190,966. The notice of investigation named Nokia Corporation of Finland and Nokia Inc. of Irving, Texas (collectively, “Nokia”) as respondents. On October 24, 2007, the ALJ consolidated Inv. No. 337-TA-601 with Inv. No. 337-TA-613. On October 23, 2007, InterDigital moved to amend the complaint and notice of investigation of Inv. No. 337-TA-613 to add allegations of infringement of claims 1-3 and 5-11 of recently issued U.S. Patent No. 7,286,847 (“the '847 patent”) by Nokia. The Commission investigative attorney supported the motion. No other party responded to the motion. On November 9, 2007, the ALJ issued the subject ID granting InterDigital's motion, finding that there was good cause to amend the complaint and notice of investigation. No petitions for review were filed. The Commission has determined not to review the ID. The authority for the Commission's determination is contained in section 337 of the Tariff Act of 1930, as amended, 19 U.S.C. 1337, and in sections 210.14 and 210.42(c) of the Commission's Rules of Practice and Procedure, 19 CFR 210.14, 210.42(c). Issued: December 6, 2007. By order of the Commission. Marilyn R. Abbott, Secretary to the Commission. [FR Doc. E7-25172 Filed 12-27-07; 8:45 am] BILLING CODE 7020-02-P INTERNATIONAL TRADE COMMISSION [Inv. No. 337-TA-543] In the Matter of Certain Baseband Processor Chips and Chipsets, Transmitter and Receiver (Radio) Chips, Power Control Chips, and Products Containing Same, Including Cellular Telephone Handsets; Notice of Institution of Formal Enforcement Proceeding AGENCY: U.S. International Trade Commission. ACTION: Notice. SUMMARY: Notice is hereby given that the U.S. International Trade Commission has instituted a formal enforcement proceeding relating to a cease and desist order issued at the conclusion of the above-captioned investigation. FOR FURTHER INFORMATION CONTACT: Clint A. Gerdine, Esq., Office of the General Counsel, U.S. International Trade Commission, 500 E Street, SW., Washington, DC 20436, telephone
(202)205-3061. Copies of all nonconfidential documents filed in connection with this investigation are or will be available for inspection during official business hours (8:45 a.m. to 5:15 p.m.) in the Office of the Secretary, U.S. International Trade Commission, 500 E Street, SW., Washington, DC 20436, telephone 202-205-2000. General information concerning the Commission may also be obtained by accessing its Internet server ( *http://www.usitc.gov* ). The public record for this investigation may be viewed on the Commission's electronic docket
(EDIS)at *http://edis.usitc.gov/* . Hearing-impaired persons are advised that information on the matter can be obtained by contacting the Commission's TDD terminal on 202-205-1810. SUPPLEMENTARY INFORMATION: On June 21, 2005, the Commission instituted an investigation under section 337 of the Tariff Act of 1930, 19 U.S.C. 1337, based on a complaint filed by Broadcom Corporation (“Broadcom”) of Irvine, California, alleging a violation of section 337 in the importation, sale for importation, and sale within the United States after importation of certain baseband processor chips and chipsets, transmitter and receiver (radio) chips, power control chips, and products containing same, including cellular telephone handsets by reason of infringement of certain claims of U.S. Patent Nos. 6,374,311; 6,714,983 (“the '983 patent”); 5,682,379 (“the '379 patent”); 6,359,872 (“the '872 patent”); and 6,583,675. 70 Fed. Reg. 35707 (June 21, 2005). The complainant named Qualcomm Incorporated (“Qualcomm”) of San Diego, California as the only respondent. The '379 patent and '872 patent were terminated from this investigation. On October 19, 2006, the presiding administrative law judge (“ALJ”) issued an Initial Determination on Violation of Section 337 and Recommended Determination on Remedy and Bond (“ID”), finding a violation of section 337 as to the '983 patent only. On December 8, 2006, the Commission issued a notice of its decision to review and modify in part the ALJ's final ID. The modification made by the Commission did not affect the finding of violation. On March 21-22, 2007, the Commission held a public hearing on the issues of remedy and the public interest. Subsequently, the Commission extended the target date for completion of this investigation to June 7, 2007. On June 7, 2007, the Commission issued a limited exclusion order, with certain exemptions, prohibiting the importation of Qualcomm's baseband processor chips or chipsets, including chips or chipsets incorporated into circuit board modules and carriers, that are programmed to enable the power saving features covered by claims 1, 4, 8, 9, or 11 of the '983 patent, as well as handheld wireless communication devices, including cellular telephone handsets and PDAs, containing Qualcomm baseband processor chips or chipsets that are programmed to enable the power saving features covered by these claims. The Commission also issued a cease and desist order that prohibits Qualcomm from engaging in certain activities in the United States related to the infringing chips. On November 9, 2007, complainant Broadcom filed a complaint for enforcement proceedings under Commission Rule 210.75. Broadcom asserts that respondent Qualcomm has violated the Commission's cease and desist order by continued marketing of infringing, imported baseband processor chips and chipsets, and continued testing and programming of imported baseband processor chips and chipsets to transform them into infringing products. On December 5 and 7, 2007, respectively, Qualcomm filed a letter opposing institution of Broadcom's complaint, and Broadcom filed a letter in response to Qualcomm's opposition. Having examined the complaint seeking a formal enforcement proceeding, and having found that the complaint complies with the requirements for institution of a formal enforcement proceeding contained in Commission rule 210.75, the Commission has determined to institute formal enforcement proceedings to determine whether Qualcomm is in violation of the Commission's cease and desist order issued in the investigation, and what, if any, enforcement measures are appropriate. The following entities are named as parties to the formal enforcement proceeding:
(1)Complainant Broadcom,
(2)respondent Qualcomm, and
(3)a Commission investigative attorney to be designated by the Director, Office of Unfair Import Investigations. The authority for the Commission's determination is contained in section 337 of the Tariff Act of 1930, as amended (19 U.S.C. 1337), and in section 210.75 of the Commission's Rules of Practice and Procedure (19 CFR 210.75). Issued: December 20, 2007. By order of the Commission. Marilyn R. Abbott, Secretary to the Commission. [FR Doc. E7-25173 Filed 12-27-07; 8:45 am] BILLING CODE 7020-02-P INTERNATIONAL TRADE COMMISSION [Investigation Nos. 701-TA-417 and 731-TA-953, 954, 957-959, 961, and 962 (Review)] Carbon and Certain Alloy Steel Wire Rod From Brazil, Canada, Indonesia, Mexico, Moldova, Trinidad and Tobago, and Ukraine AGENCY: United States International Trade Commission. ACTION: Notice of Commission determinations to conduct full five-year reviews concerning the countervailing duty order on carbon and certain alloy steel wire rod (“wire rod”) from Brazil and antidumping duty orders on wire rod from Brazil, Canada, Indonesia, Mexico, Moldova, Trinidad and Tobago, and Ukraine. SUMMARY: The Commission hereby gives notice that it will proceed with full reviews pursuant to section 751(c)(5) of the Tariff Act of 1930 (19 U.S.C. § 1675(c)(5)) to determine whether revocation of the countervailing duty order on wire rod from Brazil and the antidumping duty orders on wire rod from Brazil, Canada, Indonesia, Mexico, Moldova, Trinidad and Tobago, and Ukraine would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time. A schedule for the reviews will be established and announced at a later date. For further information concerning the conduct of these reviews and rules of general application, consult the Commission's Rules of Practice and Procedure, part 201, subparts A through E (19 CFR part 201), and part 207, subparts A, D, E, and F (19 CFR part 207). EFFECTIVE DATE: December 10, 2007. FOR FURTHER INFORMATION CONTACT: Mary Messer (202-205-3193), Office of Investigations, U.S. International Trade Commission, 500 E Street SW., Washington, DC 20436. Hearing-impaired persons can obtain information on this matter by contacting the Commission's TDD terminal on 202-205-1810. Persons with mobility impairments who will need special assistance in gaining access to the Commission should contact the Office of the Secretary at 202-205-2000. General information concerning the Commission may also be obtained by accessing its internet server ( *http://www.usitc.gov* ). The public record for these reviews may be viewed on the Commission's electronic docket
(EDIS)at *http://edis.usitc.gov* . SUPPLEMENTARY INFORMATION: On December 10, 2007, the Commission determined that it should proceed to full reviews in the subject five-year reviews pursuant to section 751(c)(5) of the Act. The Commission found that the domestic interested party group response to its notice of institution (72 FR 50696, September 4, 2007) was adequate and that the respondent interested party group responses with respect to Canada and Moldova were adequate and decided to conduct full reviews with respect to the antidumping duty orders concerning wire rod from Canada and Moldova. The Commission found that the respondent interested party group responses with respect to Brazil, Indonesia, Mexico, Trinidad and Tobago, and Ukraine were inadequate. However, the Commission determined to conduct full reviews concerning the countervailing duty order on wire rod from Brazil and the antidumping duty orders on wire rod from Brazil, Indonesia, Mexico, Trinidad and Tobago, and Ukraine to promote administrative efficiency in light of its decision to conduct full reviews with respect to the orders concerning wire rod from Canada and Moldova. A record of the Commissioners' votes, the Commission's statement on adequacy, and any individual Commissioner's statements will be available from the Office of the Secretary and at the Commission's web site. *Authority:* These reviews are being conducted under authority of title VII of the Tariff Act of 1930; this notice is published pursuant to section 207.62 of the Commission's rules. By order of the Commission. Issued: December 21, 2007. Marilyn R. Abbott, Secretary to the Commission. [FR Doc. E7-25174 Filed 12-27-07; 8:45 am] BILLING CODE 7020-02-P INTERNATIONAL TRADE COMMISSION [Investigation Nos. 731-TA-955, 960, 963 (Preliminary) (Third Remand)] Carbon and Certain Alloy Steel Wire Rod from Egypt, South Africa, and Venezuela AGENCY: United States International Trade Commission. ACTION: Notice of remand proceedings. SUMMARY: The U.S. International Trade Commission (“Commission”) hereby gives notice of the court-ordered remand of its preliminary determinations in the antidumping Investigation Nos. 731-TA-955, 960, 963 concerning carbon and certain alloy steel wire rod from Egypt, South Africa, and Venezuela. For further information concerning the conduct of this proceeding and rules of general application, consult the Commission's Rules of Practice and Procedure, part 201, subparts A through E (19 CFR part 201), and part 207, subpart A (19 CFR part 207). EFFECTIVE DATE: December 21, 2007. FOR FURTHER INFORMATION CONTACT: Mary Messer, Office of Investigations, telephone 202-205-3193, or Robin L. Turner, Office of General Counsel, telephone 202-205-3103, U.S. International Trade Commission, 500 E Street SW., Washington, DC 20436. Hearing-impaired persons can obtain information on this matter by contacting the Commission's TDD terminal on 202-205-1810. Persons with mobility impairments who will need special assistance in gaining access to the Commission should contact the Office of the Secretary at 202-205-2000. General information concerning the Commission may also be obtained by accessing its Internet server ( *http://www.usitc.gov* ). The public record of Investigation No. 731-TA-1088 may be viewed on the Commission's electronic docket (“EDIS”) at *http://edis.usitc.gov.* SUPPLEMENTARY INFORMATION: *Background.* —In September 2005, the Commission determined on remand that there is no potential that subject imports from South Africa will exceed the applicable individual statutory negligibility threshold of three percent of total wire rod imports in the imminent future, and that with respect to Egypt, South Africa and Venezuela collectively, there is no potential that aggregate subject imports from these countries would exceed seven percent of total wire rod imports in the imminent future. 19 U.S.C. 1677(24). The Court of International Trade (“CIT”) issued an opinion in the matter on January 17, 2007, *Co-Steel Raritan, Inc.* v. *United States,* Slip Op. 07-7 (Ct. Int'l Trade Jan. 17, 2007), and an order on November 8, 2007, *Gerdau Ameristeel U.S. Inc.* v. *United States International Trade Commission,* Slip Op. 07-165 (Ct. Int'l Trade Nov. 8, 2007), remanding the matter to the Commission for further proceedings not inconsistent with its opinion. *Participation in the proceeding.* —Only those persons who were interested parties to the original investigation (i.e., persons listed on the Commission Secretary's service list) and were parties to the appeal may participate in the remand proceeding. Such persons need not re-file their appearance notices or protective order applications to participate in the remand proceeding. Business proprietary information (“BPI”) referred to during the remand proceeding will be governed, as appropriate, by the administrative protective order issued in the original investigation. *Written submissions.* —The Commission is reopening the record in this proceeding for the limited purpose of seeking new factual information regarding South African producers of steel wire rod that did not respond in the original investigation. In addition, the Commission will permit the parties to file comments pertaining to the inquiries that are the subject of the CIT's remand instructions and any new factual information. Comments should be limited to no more than twenty
(20)double-spaced and single-sided pages of textual material. The parties may not submit any new factual information in their comments and may not address any issue other than the inquiries that are the subject of the CIT's remand instructions. Any such comments must be filed with the Commission no later than January 29, 2008. All written submissions must conform with the provisions of section 201.8 of the Commission's rules; any submissions that contain BPI must also conform with the requirements of sections 201.6, 207.3, and 207.7 of the Commission's rules. The Commission's rules do not authorize filing of submissions with the Secretary by facsimile or electronic means, except to the extent permitted by section 201.8 of the Commission's rules, as amended, 67 FR 68036 (Nov. 8, 2002). In accordance with sections 201.16(c) and 207.3 of the Commission's rules, each document filed by a party to the investigation must be served on all other parties to the investigation (as identified by either the public or BPI service list), and a certificate of service must be timely filed. The Secretary will not accept a document for filing without a certificate of service. Parties are also advised to consult with the Commission's Rules of Practice and Procedure, part 201, subparts A through E (19 CFR part 201), and part 207, subpart A (19 CFR part 207) for provisions of general applicability concerning written submissions to the Commission. By order of the Commission. Issued: December 21, 2007. Marilyn R. Abbott, Secretary to the Commission. [FR Doc. E7-25236 Filed 12-27-07; 8:45 am] BILLING CODE 7020-02-P INTERNATIONAL TRADE COMMISSION [Investigation No. 337-TA-590] In the Matter of Certain Coupler Devices for Power Supply Facilities, Components Thereof, and Products Containing Same; Notice of Commission Issuance of a Limited Exclusion Order Against the Infringing Products of Eight Respondents Found in Default And Issuance of Cease and Desist Orders Against the Five Domestic Defaulters; Termination of Investigation AGENCY: U.S. International Trade Commission. ACTION: Notice. SUMMARY: Notice is hereby given that the U.S. International Trade Commission has issued a limited exclusion order against eight respondents found in default and cease and desist orders against the five domestic defaulters, and has terminated the above-captioned investigation under section 337 of the Tariff Act of 1930, as amended, 19 U.S.C. 1337 (“section 337”). FOR FURTHER INFORMATION CONTACT: James A. Worth, Office of the General Counsel, U.S. International Trade Commission, 500 E Street, SW., Washington, DC 20436, telephone
(202)205-3065. Copies of non-confidential documents filed in connection with this investigation are or will be available for inspection during official business hours (8:45 a.m. to 5:15 p.m.) in the Office of the Secretary, U.S. International Trade Commission, 500 E Street, SW., Washington, DC 20436, telephone
(202)205-2000. General information concerning the Commission may also be obtained by accessing its Internet server ( *http://www.usitc.gov* ). The public record for this investigation may be viewed on the Commission's electronic docket
(EDIS)at *http://edis.usitc.gov* . Hearing-impaired persons are advised that information on this matter can be obtained by contacting the Commission's TDD terminal on
(202)205-1810. SUPPLEMENTARY INFORMATION: This patent-based section 337 investigation was instituted by the Commission based on a complaint filed by Topower Computer Industrial Co., Ltd. (“Topower”) of Xindian City, Taiwan. 72 FR 2554 (January 19, 2007). Topower alleged violations of section 337 in the importation into the United States, the sale for importation, and the sale within the United States after importation of certain coupler devices for power supply facilities, components thereof, and products containing same by reason of the infringement of one or more of claims 1-14 of U.S. Patent No. 6,935,902. The complaint named thirty respondents located in China, Germany, Taiwan, and the United States (California, North Carolina, and Minnesota). Topower originally requested a general exclusion order. The investigation was assigned to Administrative Law Judge
(ALJ)Robert L. Barton, Jr., and subsequently reassigned to Judge Charles E. Bullock. Twenty-two respondents have been terminated from this investigation based on either a settlement agreement, consent order, or withdrawal of allegations. On August 6, 2007, Topower filed a motion for an order directing respondents Aspire/Apevia International, Ltd. (“Aspire”), Xion/Axpertec, Inc. (“Xion”), JPAC Computer, Inc. (“JPAC”), Sunbeam Co. (“Sunbeam”), Super Flower Computer, Inc. (“Super Flower”), Taiwan Youngyear Electronics Co., Ltd. (“Taiwan Youngyear”), Sun Pro Electronics Co., Ltd. (“Sun Pro”), and Leadman Electronics Co., Ltd. (“Leadman”) to show cause why they should not be found in default for failure to respond to the Complaint and Notice of Investigation and advised that it was no longer seeking a general exclusion order. On August 30, 2007, the ALJ issued an order to show cause by September 14, 2007, why the respondents should not be found in default pursuant to Commission Rule 210.16. Order No. 37. On September 25, 2007, the ALJ issued an initial determination finding the eight respondents in default. Order No. 39. The Commission published notice in the **Federal Register** of its decision not to review this determination, and requested briefing from interested parties on remedy, the public interest, and bonding. 72 FR 58883 (October 17, 2007). The Commission investigative attorney
(IA)submitted briefing on November 8, 2007. The IA proposed a limited exclusion order and cease and desist orders directed to infringing coupler devices, components thereof, and products containing same of the defaulted respondents. The IA recommended allowing entry under bond of 100 percent of entered value during the period of Presidential review. Topower agreed with the recommendations of the IA. The Commission found that each of the statutory requirements of section 337(g)(1)(A)-(E), 19 U.S.C. 1337(g)(1)(A)-(E), has been met with respect to the defaulting respondents. Accordingly, pursuant to section 337(g)(1), 19 U.S.C. 1337(g)(1), and Commission rule 210.16(c), 19 CFR 210.16(c), the Commission presumed the facts alleged in the complaint to be true. The Commission determined that the appropriate form of relief in this investigation includes a limited exclusion order prohibiting the unlicensed entry of certain coupler devices for power supply facilities, components thereof, and products containing same by reason of infringement of one or more of claims 1-14 of U.S. Patent No. 6,935,902. The order covers certain coupler devices for power supply facilities, components thereof, and products containing same that are manufactured abroad by or on behalf of, or imported by or on behalf of respondents Aspire, Xion, JPAC, Sunbeam, Super Flower, Taiwan Youngyear, Sun Pro, and Leadman, or any of their affiliated companies, parents, subsidiaries, or other related business entities, or their successors or assigns. The Commission also determined to issue cease and desist orders prohibiting domestic respondents Aspire, Xion, JPAC, Sunbeam, and Leadman from importing, selling, marketing, advertising, distributing, offering for sale, transferring (except for exportation), and soliciting U.S. agents or distributors for certain coupler devices for power supply facilities, components thereof, and products containing same covered by the above-mentioned claims of U.S. Patent No. 6,935,902. The Commission further determined that the public interest factors enumerated in section 337(g)(1), 19 U.S.C. 1337(g)(1), do not preclude issuance of the limited exclusion order and cease and desist orders. Finally, the Commission determined that the bond under the limited exclusion order during the Presidential review period shall be in the amount of 100 percent of the entered value of the imported articles. The Commission's orders were delivered to the President and the United States Trade Representative on the day of their issuance. The Commission has therefore terminated this investigation. The authority for the Commission's determination is contained in section 337 of the Tariff Act of 1930, as amended (19 U.S.C. 1337), and sections 210.16(c) and 210.41 of the Commission's Rules of Practice and Procedure (19 CFR 210.16(c) and 210.41). Issued: December 20, 2007. By order of the Commission. Marilyn R. Abbott, Secretary to the Commission. [FR Doc. E7-25235 Filed 12-27-07; 8:45 am] BILLING CODE 7020-02-P INTERNATIONAL TRADE COMMISSION [Investigation No. 332-288] Ethyl Alcohol for Fuel Use: Determination of the Base Quantity of Imports AGENCY: United States International Trade Commission. ACTION: Notice of determination. SUMMARY: Section 423(c) of the Tax Reform Act of 1986, as amended (19 U.S.C. 2703 note), requires the United States International Trade Commission to determine annually the amount (expressed in gallons) that is equal to 7 percent of the U.S. domestic market for fuel ethyl alcohol during the 12-month period ending on the preceding September 30. This determination is to be used to establish the “base quantity” of imports of fuel ethyl alcohol with a zero percent local feedstock requirement that can be imported from U.S. insular possessions or CBERA-beneficiary countries. The base quantity to be used by U.S. Customs and Border Protection in the administration of the law is the greater of 60 million gallons or 7 percent of U.S. consumption, as determined by the Commission. For the 12-month period ending September 30, 2007, the Commission has determined the level of U.S. consumption of fuel ethyl alcohol to be 6.46 billion gallons; 7 percent of this amount is 452.5 million gallons (these figures have been rounded). Therefore, the base quantity for 2008 should be 452.5 million gallons. ADDRESSES: All Commission offices, including the Commission's hearing rooms, are located in the United States International Trade Commission Building, 500 E Street, SW., Washington, DC. All written submissions should be addressed to the Secretary, United States International Trade Commission, 500 E Street, SW., Washington, DC 20436. FOR FURTHER INFORMATION CONTACT: Douglas Newman,
(202)205-3328, *douglas.newman@usitc.gov,* in the Commission's Office of Industries. For information on legal aspects of the investigation contact Mr. William Gearhart, *william.gearhart@usitc.gov,* of the Commission's Office of the General Counsel at
(202)205-3091. The media should contact Margaret O'Laughlin, Office of External Relations (202-205-1819 or *margaret.olaughlin@usitc.gov* ). Hearing-impaired individuals may obtain information on this matter by contacting the Commission's TDD terminal at 202-205-1810. General information concerning the Commission may also be obtained by accessing its Internet server ( *http://www.usitc.gov* ). Persons with mobility impairments who will need special assistance in gaining access to the Commission should contact the Office of the Secretary at 202-205-2000. *Background:* Section 423(c) of the Tax Reform Act of 1986, as amended, which concerns local feedstock requirements for fuel ethyl alcohol imported by the United States from U.S. insular possessions or CBERA-beneficiary countries, requires that the Commission determine annually the amount that is equal to 7 percent of the U.S. domestic market for fuel ethyl alcohol. The Commission published its notice instituting this investigation in the **Federal Register** of March 21, 1990 (55 F.R. 10512), and published its most recent previous determination for the 2007 amount in the **Federal Register** of January 5, 2007 (72 F.R. 580). The Commission uses official statistics of the U.S. Department of Energy to make these determinations, as well as the PIERS database of the Journal of Commerce, which is based on U.S. export declarations. By order of the Commission. Issued: December 20, 2007. Marilyn R. Abbott, Secretary to the Commission. [FR Doc. E7-25175 Filed 12-27-07; 8:45 am] BILLING CODE 7020-02-P INTERNATIONAL TRADE COMMISSION [Investigation Nos. 731-TA-1111-1113 (Final)] Glycine From India, Japan, and Korea AGENCY: United States International Trade Commission. ACTION: Revised schedule for the subject investigations. EFFECTIVE DATE: December 18, 2007. FOR FURTHER INFORMATION CONTACT: Russell Duncan (202-708-4727), Office of Investigations, U.S. International Trade Commission, 500 E Street, SW., Washington, DC 20436. Hearing-impaired persons can obtain information on this matter by contacting the Commission's TDD terminal on 202-205-1810. Persons with mobility impairments who will need special assistance in gaining access to the Commission should contact the Office of the Secretary at 202-205-2000. General information concerning the Commission may also be obtained by accessing its internet server ( *http://www.usitc.gov* ). The public record for these investigations may be viewed on the Commission's electronic docket
(EDIS)at *http://edis.usitc.gov* . SUPPLEMENTARY INFORMATION: On September 28, 2007, the Commission established a schedule for the conduct of the final phase of the subject investigations (72 FR 55247). Although the Department of Commerce (“Commerce”) had not yet made its preliminary less than fair value determination (“LTFV”) regarding India, the Commission, for administrative purposes, included India in the investigation schedule, pending Commerce's preliminary LTFV determination. On November 7, 2007, Commerce issued its preliminary determination in the investigation of glycine from India (72 FR 62827; as amended 72 FR 62826), and the Commission revised its schedule (72 FR 65060, November 19, 2007). On December 7, 2007, Commerce issued a notice of postponement of its final determination in the investigation of glycine from India (72 FR 69187). The Commission, therefore, is revising its schedule with respect to the investigation concerning India. The Commission's revised schedule with respect to India is as follows: A supplemental brief addressing only Commerce's final antidumping duty determination is due on April 8, 2008. The brief may not exceed five
(5)pages in length. For further information concerning this investigation see the Commission's notice cited above and the Commission's Rules of Practice and Procedure, part 201, subparts A through E (19 CFR part 201), and part 207, subparts A and C (19 CFR part 207). Authority: These investigations are being conducted under authority of title VII of the Tariff Act of 1930; this notice is published pursuant to section 207.21 of the Commission's rules. By order of the Commission. Issued: December 20, 2007. Marilyn R. Abbott, Secretary to the Commission. [FR Doc. E7-25176 Filed 12-27-07; 8:45 am] BILLING CODE 7020-02-P INTERNATIONAL TRADE COMMISSION [Inv. No. 337-TA-625] In the Matter of Certain Self-Cleaning Litter Boxes and Components Thereof; Notice of Investigation AGENCY: U.S. International Trade Commission. ACTION: Institution of investigation pursuant to 19 U.S.C. 1337. SUMMARY: Notice is hereby given that a complaint was filed with the U.S. International Trade Commission on November 26, 2007, under section 337 of the Tariff Act of 1930, as amended, 19 U.S.C. 1337, on behalf of Applica Incorporated of Miramar, Florida; Applica Consumer Products, Inc. of Miramar, Florida; and Water Research Company of West Dundee, Illinois. The complaint alleges violations of section 337 in the importation into the United States, the sale for importation, and the sale within the United States after importation of certain self-cleaning litter boxes and components thereof by reason of infringement of certain claims of U.S. Patent No. RE36,847. The complaint further alleges that an industry in the United States exists as required by subsection (a)(2) of section 337. The complainants request that the Commission institute an investigation and, after the investigation, issue an exclusion order and a cease and desist order. ADDRESSES: The complaint, except for any confidential information contained therein, is available for inspection during official business hours (8:45 a.m. to 5:15 p.m.) in the Office of the Secretary, U.S. International Trade Commission, 500 E Street, SW., Room 112, Washington, DC 20436, telephone 202-205-2000. Hearing impaired individuals are advised that information on this matter can be obtained by contacting the Commission's TDD terminal on 202-205-1810. Persons with mobility impairments who will need special assistance in gaining access to the Commission should contact the Office of the Secretary at 202-205-2000. General information concerning the Commission may also be obtained by accessing its internet server at *http://www.usitc.gov* . The public record for this investigation may be viewed on the Commission's electronic docket
(EDIS)at *http://edis.usitc.gov* . FOR FURTHER INFORMATION CONTACT: Anne Goalwin, Esq., Office of Unfair Import Investigations, U.S. International Trade Commission, telephone
(202)205-2574. Authority: The authority for institution of this investigation is contained in section 337 of the Tariff Act of 1930, as amended, and in section 210.10 of the Commission's Rules of Practice and Procedure, 19 CFR 210.10 (2007). *Scope of Investigation:* Having considered the complaint, the U.S. International Trade Commission, on December 21, 2007, *ordered that* —
(1)Pursuant to subsection
(b)of section 337 of the Tariff Act of 1930, as amended, an investigation be instituted to determine whether there is a violation of subsection (a)(1)(B) of section 337 in the importation into the United States, the sale for importation, or the sale within the United States after importation of certain self-cleaning litter boxes or components thereof by reason of infringement of one or more of claims 8, 13, 24-25, 27, 31-33, 36-37, 41-42, and 46-48 of U.S. Patent No. RE36,847, and whether an industry in the United States exists as required by subsection (a)(2) of section 337;
(2)For the purpose of the investigation so instituted, the following are hereby named as parties upon which this notice of investigation shall be served:
(a)The complainants are— Applica Incorporated, 3633 Flamingo Road, Miramar, Florida 33027; Applica Consumer Products, Inc., 3633 Flamingo Road, Miramar, Florida 33027; Waters Research Company, 213 West Main Street, West Dundee, Illinois 60118.
(b)The respondents are the following entities alleged to be in violation of section 337, and are the parties upon which the complaint is to be served: Lucky Litter, L.L.C., 2 N Riverside Plaza, Chicago, Illinois 60606; Doskocil Manufacturing Co., Inc., 4209 Barnett Blvd., Arlington, Texas 76017; OurPet's Company, 1300 East Street, Fairport Harbor, Ohio 44077.
(c)The Commission investigative attorney, party to this investigation, is Anne Goalwin, Esq., Office of Unfair Import Investigations, U.S. International Trade Commission, 500 E Street, SW., Room 401, Washington, DC 20436; and
(3)For the investigation so instituted, the Honorable Theodore R. Essex is designated as the presiding administrative law judge. Responses to the complaint and the notice of investigation must be submitted by the named respondents in accordance with section 210.13 of the Commission's Rules of Practice and Procedure, 19 CFR 210.13. Pursuant to 19 CFR 201.16(d) and 210.13(a), such responses will be considered by the Commission if received not later than 20 days after the date of service by the Commission of the complaint and the notice of investigation. Extensions of time for submitting responses to the complaint and the notice of investigation will not be granted unless good cause therefor is shown. Failure of a respondent to file a timely response to each allegation in the complaint and in this notice may be deemed to constitute a waiver of the right to appear and contest the allegations of the complaint and this notice, and to authorize the administrative law judge and the Commission, without further notice to the respondent, to find the facts to be as alleged in the complaint and this notice and to enter an initial determination and a final determination containing such findings, and may result in the issuance of an exclusion order or cease and desist order or both directed against the respondent. Issued: December 21, 2007. By order of the Commission. Marilyn R. Abbott, Secretary to the Commission. [FR Doc. E7-25237 Filed 12-27-07; 8:45 am] BILLING CODE 7020-02-P INTERNATIONAL TRADE COMMISSION [USITC SE-07-029] Government In the Sunshine Act Meeting Notice *Agency Holding the Meeting:* United States International Trade Commission. *Time and Date:* January 3, 2008 at 11 a.m. *Place:* Room 101, 500 E Street, SW., Washington, DC 20436, Telephone:
(202)205-2000. *Status:* Open to the public. *Matters To Be Considered:* 1. Agenda for future meetings: None. 2. Minutes. 3. Ratification List. 4. Inv. Nos. 731-TA-1112 and 1113 (Final) (Glycine from Japan and Korea)—briefing and vote. (The Commission is currently scheduled to transmit its determinations and Commissioners' opinions to the Secretary of Commerce on or before January 10, 2008). 5. Outstanding action jackets:
(1)Document No. GC-07-225 (Administrative matter). In accordance with Commission policy, subject matter listed above, not disposed of at the scheduled meeting, may be carried over to the agenda of the following meeting. By order of the Commission. Issued: December 20, 2007. William R. Bishop, Hearings and Meetings Coordinator. [FR Doc. E7-25099 Filed 12-27-07; 8:45 am] BILLING CODE 7020-02-P DEPARTMENT OF LABOR Occupational Safety and Health Administration Maritime Advisory Committee for Occupational Safety and Health (MACOSH); Request for Nominations AGENCY: Occupational Safety and Health Administration, (OSHA), Labor. ACTION: Request for nominations for persons to serve on MACOSH. SUMMARY: OSHA intends to recharter the Maritime Advisory Committee for Occupational Safety and Health (MACOSH), which expires on June 26, 2008. MACOSH advises the Secretary of Labor on matters relating to occupational safety and health programs, new initiatives, and standards for the maritime industries of the United States which include Longshoring, Marine Terminals, and Shipyard Employment. The Committee will consist of 15 members and will be chosen from among a cross-section of individuals who represent the following interests: employers; employees; Federal and State safety and health organizations; professional organizations specializing in occupational safety and health; national standards setting groups; and academia. OSHA invites persons interested in serving on MACOSH to submit their names for consideration for committee membership. DATE: Nominations for MACOSH membership should be postmarked by February 11, 2008 ADDRESSES: Nominations for MACOSH membership should be sent to: Dorothy Dougherty, Director, Directorate of Standards and Guidance, Room N-3718, Occupational Safety and Health Administration, U.S. Department of Labor, 200 Constitution Avenue, NW., Washington, DC 20210. FOR FURTHER INFORMATION CONTACT: Joseph V. Daddura, Acting Director, Office of Maritime, U.S. Department of Labor, Occupational Safety and Health Administration, Room N-3621, 200 Constitution Avenue, NW., Washington, DC 20210; Telephone:
(202)693-2086. SUPPLEMENTARY INFORMATION: *Background:* OSHA intends to recharter MACOSH for another 2 years. MACOSH was established to advise the Secretary on various issues pertaining to providing safe and healthful employment in the maritime industries. The Secretary consults with MACOSH on various related subjects, including: ways to increase the effectiveness of safety and health standards that apply to the maritime industries, injury and illness prevention, the use of stakeholder partnerships to improve training and outreach initiatives, and ways to increase the national dialogue on occupational safety and health. In addition, MACOSH provides advice on enforcement initiatives that will help improve the working conditions and the safety and health of men and women employed in the maritime industries. *Nominations:* OSHA is looking for committed MACOSH members who have a strong interest in the safety and health of workers in the maritime industries. The Agency is looking for nominees to represent the following interests and categories: employees; employers; State or Federal safety and health organizations; professional organizations; national standards setting groups; and academia. OSHA seeks a broad-based and diverse membership for MACOSH. Nominations of women and minorities are encouraged. Nominations of new members or resubmissions of former or current members will be accepted in all categories of membership. Interested persons may nominate themselves or may submit the name of another person who they believe to be interested in and qualified to serve on MACOSH. Nominations may also be submitted by organizations from one of the categories listed above. Nominations should include the name, address, and telephone number of the candidate. Each nomination should include a summary of the candidate's training or experience relating to safety and health in maritime industries and the interest the candidate represents. In addition to listing the candidate's qualifications to serve on the committee, each nomination should state that the person consents to the nomination and acknowledges the commitment and responsibilities of serving on MACOSH. *Authority:* Edwin G. Foulke, Jr., Assistant Secretary of Labor for Occupational Safety and Health, directed the preparation of this notice under the authority granted by Sections 6(b)(1) and 7(b) of the Occupational Safety and Health Act of 1970 (29 U.S.C. 655, 656), the Federal Advisory Committee Act (5 U.S.C. App. 2), Secretary of Labor's Order 5-2007 (72 FR 31159), and 29 CFR part 1912. Signed at Washington, DC on December 21, 2007. Edwin G. Foulke, Jr., Assistant Secretary of Labor for Occupational Safety and Health. [FR Doc. E7-25144 Filed 12-27-07; 8:45 am] BILLING CODE 4510-26-P MILLENNIUM CHALLENGE CORPORATION [MCC FR 07-16] Report on the Selection of Eligible Countries for Fiscal Year 2008 AGENCY: Millennium Challenge Corporation. ACTION: Notice. SUMMARY: This report is provided in accordance with section 608(d)(1) of the Millennium Challenge Act of 2003, Public Law 108-199, Division D, (the “Act”). The Act authorizes the provision of Millennium Challenge Account (“MCA”) assistance under section 605 of the Act to countries that enter into compacts with the United States to support policies and programs that advance the progress of such countries in achieving lasting economic growth and poverty reduction, and are in furtherance of the Act. The Act requires the Millennium Challenge Corporation (“MCC”) to take steps to determine the countries that, based to the maximum extent possible on objective and quantifiable indicators of a country's demonstrated commitment to just and democratic governance, economic freedom, and investing in their people, will be eligible to receive MCA assistance for a fiscal year. These steps include the submission of reports to appropriate congressional committees and the publication of notices in the **Federal Register** that identify, among other things: 1. The “candidate countries” for MCA assistance for a fiscal year, and all countries that would be candidate countries if they met the requirement of section 606(a)(1)(B) (section 608(a) of the Act); 2. The eligibility criteria and methodology that the MCC Board of Directors (the “Board”) will use to select “eligible countries” from among the “candidate countries” (section 608(b) of the Act); and 3. The countries determined by the Board to be “eligible countries” for a fiscal year, the countries on the list of eligible countries with which the Board will seek to enter into a compact, and a justification for the decisions regarding eligibility and selection for negotiation (section 608(d)(1) of the Act). This is the third of the above-described reports by MCC for fiscal year 2008 (FY08). It identifies countries determined by the Board to be eligible under section 607 of the Act for FY08 and those that the Board will seek to enter into compacts under section 609 of the Act, and the justification for such decisions. Eligible Countries The Board met on December 12, 2007 to select countries that will be eligible for MCA compact assistance under section 607 of the Act for FY08. The Board determined the following countries eligible for such assistance for FY08: Armenia, Benin, Bolivia, Burkina Faso, El Salvador, Georgia, Ghana, Honduras, Jordan, Lesotho, Madagascar, Malawi, Mali, Moldova, Mongolia, Morocco, Mozambique, Namibia, Nicaragua, Senegal, Tanzania, Timor Leste, Ukraine and Vanuatu, and with which MCC may seek to enter into a compact: Bolivia, Burkina Faso, Jordan, Malawi, Moldova, Namibia, Senegal, Tanzania, Timor Leste, and Ukraine. In accordance with the Act and with the “Report on the Criteria and Methodology for Determining the Eligibility of Candidate Countries for Millennium Challenge Account Assistance in Fiscal Year 2008” submitted to the Congress on September 17, 2007, selection was based primarily on a country's overall performance in relation to three broad policy categories:
(1)“Ruling justly”;
(2)“encouraging economic freedom”; and
(3)“investing in people.” The Board relied upon 17 publicly available and independent indicators to assess policy performance and demonstrated commitment in these three areas, to the maximum extent possible, for determining which countries would be eligible for MCA compact assistance. In determining eligibility, the Board considered if a country performed above the median in relation to its peers on at least half of the indicators in each of the three policy categories, and above the median on “control of corruption” and, if the country performed substantially below the median on any indictor, whether it is taking appropriate action to address the shortcomings. Scorecards reflecting each country's performance on the indicators are available on MCC's Web site at *www.mcc.gov* . The Board also considered whether any adjustments should be made for data gaps, lags, trends, or recent events since the indicators were published, as well as strengths or weaknesses in particular indicators. Where appropriate, the Board took into account additional quantitative and qualitative information, such as evidence of a country's commitment to fighting corruption and promoting democratic governance, its economic policies to promote the sustainable management of natural resources, and its effective protection of human rights and the rights of people with disabilities. In addition, the Board considered the opportunity to reduce poverty, promote economic growth and poverty reduction in a country, in light of the overall context of the information available to it as well as the availability of appropriated funds. One country was selected as eligible for the first time in FY08: Malawi, a low income candidate, was selected under section 606(a) of the Act. Malawi
(1)performed above the median in relation to their peers on at least half of the indicators in each of the three policy categories;
(2)performed above the median on corruption; and
(3)in cases where they performed substantially below the median on an indicator, there was either evidence that the data did not adequately reflect their policy performance or that the government is taking corrective action to address the problem. Malawi is currently participating in the threshold program. Malawi meets the eligibility criteria for the first time in FY08, scoring above the median on 13 of 17 indicators, including the corruption indicator. The government of Malawi has demonstrated a strong commitment to fighting corruption, and is well into the implementation of a threshold program focused on accelerating anticorruption reforms and improving fiscal policy. There is a significant opportunity for a compact with Malawi to reduce poverty and promote economic growth. Roughly seven million people (over half the population) live on less than $2 a day. Although Malawi now meets the MCA eligibility criteria for compact assistance, successful implementation of its threshold program—and of the corresponding reform commitments—remains critical. Hence, the government of Malawi will be required to demonstrate successful implementation of the threshold program during the compact development process in order to reach a compact and then to continue to receive MCA funding under a compact. Seventeen of the countries selected eligible for MCA assistance for FY08 were in the “low income country” category and were previously selected as eligible in at least one prior fiscal year—Benin, Bolivia, Burkina Faso, Ghana, Georgia, Honduras, Lesotho, Madagascar, Mali, Moldova, Mongolia, Mozambique, Nicaragua, Senegal, Tanzania, Timor Leste and Vanuatu. Six of the countries selected as eligible for MCA assistance for FY08 were in the “lower middle income country” category and were previously selected as eligible in at least one prior fiscal year—Armenia, El Salvador, Jordan, Morocco, Namibia, and Ukraine. On December 12, 2007, the Board reselected these countries based on their continued performance since their prior selection. The Board also determined that no material change has occurred in the performance of these countries on the selection criteria since the FY07 selection that would justify not including them in the FY08 eligible country list. Eleven countries—Armenia, Benin, El Salvador, Honduras, Madagascar, Mali, Morocco, Mozambique, Namibia, Timor Leste, and Ukraine—either did not perform above the median on control of corruption or did not perform above the median in relation to their peers on at least half of the indicators in each of the three policy categories. Cape Verde was not reselected as eligible, as this is the third year it does not meet the criteria in its new lower middle income country competition. MCC does not believe that a serious policy reversal or a pattern of actions inconsistent with the selection criteria has occurred in any of these countries. In analyzing performance, MCC found that these countries did not meet the criteria, due to one or a combination of the following factors: • Graduation from the “low income country” to the “lower middle income country” category, • Data improvements and revisions, • The introduction of two new indicators and a new methodology in the “iInvesting in people” category, • Slight declines in performance, and • Score changes within the margin of error. Therefore, all of the 12 countries can continue with compact implementation or compact development, providing they demonstrate progress toward meeting the criteria. These MCC countries will be required to develop and implement a remediation plan to address policy performance and/or data issues which prevent countries from meeting the eligibility criteria. The remediation process will give MCC and other U.S. Government agencies a basis for policy dialogue with the country about how to improve performance while allowing the country to demonstrate commitment to and progress toward meeting the eligibility criteria. The Board also did not reselect Sri Lanka and the Gambia. Sri Lanka was not reselected this year due to the ongoing conflict in the country, which has escalated to a level that precludes MCC activities and which is inconsistent with the performance of an MCC-eligible country. The Gambia's eligibility was suspended in previous years and it was not considered this year for eligibility. Finally, a number of countries that performed well on the quantitative elements of the selection criteria (i.e., on the policy indicators) were not chosen as eligible countries for FY08. As discussed above, the Board considered a variety of factors in addition to the country's performance on the policy indicators in determining whether they were appropriate candidates for assistance (e.g., the country's commitment to fighting corruption and promoting democratic governance; the availability of appropriated funds; and the countries in which MCC would likely have the best opportunity to reduce poverty and generate economic growth). Selection for Compact Negotiation The Board also authorized MCC to invite Malawi to submit a proposal for a compact, as described in section 609 of the Act. MCC will initiate the process by inviting Malawi to submit a program proposal to MCC for due diligence review (previously eligible countries will not be asked to submit another proposal for FY08 assistance). MCC has posted guidance on the MCC Web site ( *www.mcc.gov* ) regarding the development and submission of MCA program proposals. Submission of a proposal is not a guarantee that MCC will finalize a compact with an eligible country. Any MCA assistance provided under section 605 of the Act will be contingent on the successful negotiation of a mutually agreeable compact between the eligible country and MCC, approval of the compact by the Board, and availability of funds. Dated: December 21, 2007. William G. Anderson, Jr., Vice President and General Counsel, Millennium Challenge Corporation. Henry Pitney, Alternate Certifying Officer. [FR Doc. E7-25312 Filed 12-27-07; 8:45 am] BILLING CODE 9210-01-P NATIONAL AERONAUTICS AND SPACE ADMINISTRATION [Notice (07-098)] NASA Advisory Council; Science Committee; Earth Science Subcommittee; Meeting AGENCY: National Aeronautics and Space Administration. ACTION: Notice of meeting. SUMMARY: The National Aeronautics and Space Administration
(NASA)announces a meeting of the Earth Science Subcommittee of the NASA Advisory Council (NAC). This Subcommittee reports to the Science Committee of the NAC. The Meeting will be held for the purpose of soliciting from the scientific community and other persons scientific and technical information relevant to program planning. DATES: Thursday, January 17, 2008, 8 a.m. to 4:30 p.m. and Friday, January 18, 2008, 8 a.m. to 4:30 p.m. Eastern Daylight Time. ADDRESSES: NASA Headquarters, room 6H45, 300 E Street, SW., Washington, DC 20546. FOR FURTHER INFORMATION CONTACT: Ms. Marian Norris, Science Mission Directorate, NASA Headquarters, Washington, DC 20546,
(202)358-4452, fax
(202)358-4118, or *mnorris@nasa.gov.* SUPPLEMENTARY INFORMATION: The meeting will be open to the public up to the capacity of the room. The agenda for the meeting includes the following topics: -Earth Science Division Update -NASA Planning for the Earth Science Decadal Survey Implementation -Cost Estimates of the Decadal Survey Proposed Missions -Earth Science Data and Information Systems It is imperative that the meeting be held on these dates to accommodate the scheduling priorities of the key participants. Attendees will be requested to sign a register and to comply with NASA security requirements, including the presentation of a valid picture ID, before receiving an access badge. Foreign nationals attending this meeting will be required to provide the following information no less than 5 working days prior to the meeting: full name; gender; date/place of birth; citizenship; visa/green card information (number, type, expiration date); passport information (number, country, expiration date); employer/affiliation information (name of institution, address, country, telephone); title/position of attendee. To expedite admittance, attendees with U.S. citizenship can provide identifying information 5 working days in advance by contacting Marian Norris via e-mail at *mnorris@nasa.gov* or by telephone at
(202)358-4452. Dated: December 20, 2007. P. Diane Rausch, Advisory Committee Management Officer, National Aeronautics and Space Administration. [FR Doc. E7-25301 Filed 12-27-07; 8:45 am] BILLING CODE 7510-13-P OFFICE OF THE DIRECTOR OF NATIONAL INTELLIGENCE National Counterterrorism Center Privacy Act of 1974; System of Records AGENCY: National Counterterrorism Center, Office of the Director of National Intelligence. ACTION: Notice to establish systems of records. SUMMARY: The Office of the Director of National Intelligence
(ODNI)National Counterterrorism Center
(NCTC)is establishing several systems of records subject to the Privacy Act of 1974, as amended, 5 U.S.C. 552a. These systems of records are maintained by NCTC. DATES: This action will be effective on February 6, 2008, unless comments received result in a contrary determination. ADDRESSES: You may submit comments, identified by RIN number, by any of the following methods: *Federal eRulemaking Portal: http://www.regulations.gov.* *Mail:* Director, Information Management Office, Office of the Director of National Intelligence, Washington, DC 20511. FOR FURTHER INFORMATION CONTACT: Mr. John F. Hackett, Director, Information Management Office, 703-482-3610. SUPPLEMENTARY INFORMATION: NCTC was established by Executive Order
(EO)13354 (Aug. 27, 2004) and codified as an element of the ODNI in the Intelligence Reform and Terrorism Prevention Act (IRTPA) of 2004. NCTC serves as the primary organization in the United States Government for integrating and analyzing all intelligence pertaining to terrorism possessed or acquired by the United States Government (except purely domestic terrorism); conducts strategic operational planning and assigns lead operational responsibilities for counterterrorism activities; serves as the central and shared knowledge bank on known and suspected terrorists and international terror groups; provides all-source intelligence support to government-wide counterterrorism activities; ensures that agencies, as appropriate, have access to and receive intelligence needed to accomplish their assigned activities; and ensures that agencies have access to and receive all-source intelligence support needed to execute their counterterrorism plans or perform independent, alternative analysis. The Director of NCTC serves as the principal adviser to the Director of National Intelligence (DNI)on intelligence operations relating to counterterrorism. The NCTC Director advises the DNI on how well United States Government counterterrorism program recommendations and budget proposals conform to priorities established by the President; sets priorities for counterterrorism collection and analysis; and develops integrated collection strategies to fill key information gaps. The DNI has designated the Director, NCTC, as Mission Manager for Counterterrorism. NCTC's partner organizations include, but are not limited to: Central Intelligence Agency; Department of Defense; Department of Homeland Security; Department of Justice/Federal Bureau of Investigation; Department of State; Department of Energy; Nuclear Regulatory Commission; United States Capitol Police; Department of Treasury; Department of Agriculture; Department of Health and Human Services. Several of the systems of records being published contain information about known or suspected terrorists that derive from law enforcement and intelligence sources. In addition, information from several of these systems is provided to agencies for the purpose of conducting intelligence and law enforcement activities within the scope of their lawful counter-terrorism responsibilities and authorities. Accordingly, to protect classified and sensitive information and to prevent the compromise of ongoing counterterrorism investigations and intelligence sources and methods, the DNI is proposing to exempt records in these systems from certain portions of the Privacy Act and to continue to exempt from certain portions of the Privacy Act those records for which the source agency claimed exemption. As required by the Privacy Act, a proposed rule is being published concurrently with this notice to seek public comment on the proposal to exempt these systems. In accordance with 5 U.S.C. 552a(r), the ODNI has provided a report of these new systems of records to the Office of Management and Budget and to Congress. Dated: December 13, 2007. John F. Hackett, Director, Information Management Office. SYSTEM NAME: National Counterterrorism Center Human Resources Management System (ODNI/NCTC-001). SECURITY CLASSIFICATION: The classification of records in this system can range from UNCLASSIFIED to SECRET. SYSTEM LOCATION: National Counterterrorism Center (NCTC), Office of the Director of National Intelligence (ODNI), Washington, DC 20511. CATEGORIES OF INDIVIDUALS COVERED BY THE SYSTEM: Current and former NCTC staff (NCTC employees, detailees, assignees, employees of NCTC industrial contractors, and independent contractors to NCTC) and applicants for positions at NCTC. CATEGORIES OF RECORDS IN THE SYSTEM: Personnel data including name, address, title, grade, social security number, employing entity, NCTC assignment and emergency contact information; knowledge, skills, and relevant experience; recruitment and hiring records; awards and evaluations. AUTHORITY FOR MAINTENANCE OF THE SYSTEM: The Intelligence Reform and Terrorism Prevention Act of 2004, Pub. L. No. 108-458, 118 Stat. 3638 (Dec. 17, 2004); The National Security Act of 1947, as amended, 50 U.S.C. 401-442; Exec. Order No. 13,354, 69 Fed. Reg. 53,589 (2004); Exec. Order No. 12,333, as amended, 46 Fed. Reg. 59,941 (1981). PURPOSE(S): The NCTC Human Resource System serves as the human resource records management system for NCTC. ROUTINE USES OF RECORDS MAINTAINED IN THE SYSTEM, INCLUDING CATEGORIES OF USERS AND THE PURPOSES OF SUCH USES: See General Routine Uses Applicable to More Than One ODNI Privacy Act System of Records, Subpart C of ODNI's Privacy Act Regulation published concurrently with this notice and incorporated by reference (see also *http://www.dni.gov* ). DISCLOSURE TO CONSUMER REPORTING AGENCIES: None. POLICIES AND PRACTICES FOR STORING, RETRIEVING, ACCESSING, RETAINING, AND DISPOSING OF RECORDS IN THE SYSTEM: STORAGE: Electronic records are stored in secure file-servers located within secure facilities under the control of NCTC. Paper and other hard-copy records are stored in secured areas within the control of NCTC. RETRIEVABILITY: By name, social security number, or other identifier. Information may be retrieved from this System of Records by automated or hand searches based on existing indices and automated capabilities utilized in the normal course of business. Only authorized personnel may search this system. SAFEGUARDS: Information in this system is safeguarded in accordance with recommended and/or prescribed administrative, physical, and technical safeguards. Records are maintained in a secure government or contractor facility with access to the facility limited to authorized personnel only and authorized and escorted visitors. Physical security protections include guards and locked facilities requiring badges and passwords for access. Records are accessed only by authorized government personnel and contractors holding appropriate security clearances and who have a valid business reason to access the records. Communications are encrypted where required and other safeguards are in place to monitor and audit access and to detect intrusions. Backup tapes are maintained in a secure, off-site location. RETENTION AND DISPOSAL: Pursuant to 44 U.S.C. 3303a(d) and 36 CFR Chapter 12, Subchapter B, Part 128-Disposition of Federal Records, records will be maintained and disposed of in accordance with the National Archives and Records Administration
(NARA)General Records Schedule 1. SYSTEM MANAGER(S) AND ADDRESS: NCTC Human Resource System Manager, c/o Director, Information Management Office, Office of the Director of National Intelligence, Washington, DC 20511. NOTIFICATION PROCEDURES: As specified below, records in this system are exempt from certain notification, access, and amendment procedures. Individuals seeking to learn whether this system contains non-exempt information about them (“notification”) should address inquiries to the ODNI at the address and according to the requirements set forth below under the heading “Record Access Procedures.” RECORD ACCESS PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. A request for access to non-exempt records shall be made in writing with the envelope and letter clearly marked “Privacy Act Request.” Each request must provide the requester's full name and complete address. The requester must sign the request and have it verified by a notary public. Alternately, the request may be submitted under 28 U.S.C. 1746, certifying the requester's identity and acknowledging that obtaining records under false pretenses constitutes a criminal offense. Requests for access to information must be addressed to the Director, Information Management Office, Office of the Director of National Intelligence, Washington, DC 20511. Regulations governing access to one's records or for appealing an initial determination concerning access to records are contained in the ODNI regulation implementing the Privacy Act. CONTESTING RECORD PROCEDURES: As specified below, records in this system are exempt from certain notification, access, and amendment procedures. Individuals seeking to correct or amend non-exempt records should address their requests to the ODNI at the address and according to the requirements set forth above under the heading “Record Access Procedures.” Regulations governing access to and amendment of one's records or for appealing an initial determination concerning access or amendment of records are contained in the ODNI regulation implementing the Privacy Act. RECORD SOURCE CATEGORIES: Data is obtained directly from subjects and from personnel records maintained by subjects' employers. Data is also generated by NCTC in accordance with ODNI human resource policies governing recruitment, evaluation, promotions, and awards. EXEMPTIONS CLAIMED FOR THE SYSTEM: Records contained within this System of Records may be exempted from the requirements of subsections (c)(3);(d)(1),(2),(3),(4); (e)(1) and (e)(4)(G),(H),(I); and
(f)of the Privacy Act pursuant to 5 U.S.C. 552a(k)(1) and (k)(5). Records may be exempted from these subsections or additionally, from the requirements of subsections (c)(4);(e)(2),(3),(5),(8),(12); and
(g)of the Privacy Act consistent with any exemptions claimed under 5 U.S.C. 552a(j) or
(k)by the originator of the record, provided the reason for the exemption remains valid and necessary. SYSTEM NAME: National Counterterrorism Center Access Authorization Records (ODNI/NCTC-002). SECURITY CLASSIFICATION: The classification of records in this system can range from UNCLASSIFIED to SECRET. SYSTEM LOCATION: National Counterterrorism Center (NCTC), Office of the Director of National Intelligence (ODNI), Washington, DC 20511. CATEGORIES OF INDIVIDUALS COVERED BY THE SYSTEM: Current and former NCTC staff (NCTC employees, detailees, assignees, employees of NCTC industrial contractors, and independent contractors to NCTC) and other individuals given access to NCTC facilities and systems. CATEGORIES OF RECORDS IN THE SYSTEM: NCTC personnel biographic and job-related data including name, social security number, employing entity, job title and phone number, role-based accesses and permissions, emergency contact information, and supervisory point of contact. AUTHORITY FOR MAINTENANCE OF THE SYSTEM: The Intelligence Reform and Terrorism Prevention Act of 2004, Pub. L. No. 108-458, 118 Stat. 3638 (Dec. 17, 2004); The National Security Act of 1947, as amended, 50 U.S.C. 401-442; Exec. Order No. 13,354, 69 Fed. Reg. 53,589 (2004); Exec. Order No. 12,333, as amended, 46 Fed. Reg. 59,941 (1981). PURPOSE(S): NCTC Access Authorization Records provide data regarding eligible users' access to NCTC facilities and internal and external systems and databases; access authorization records enable NCTC to monitor compliance with NCTC's access policies and to provide metrics/statistics regarding levels of access as related to official duties. ROUTINE USES OF RECORDS MAINTAINED IN THE SYSTEM, INCLUDING CATEGORIES OF USERS AND THE PURPOSES OF SUCH USES: See General Routine Uses Applicable to More Than One ODNI Privacy Act System of Records, Subpart C of ODNI's Privacy Act Regulation published concurrently with this notice and incorporated by reference (see also *http://www.dni.gov* ). DISCLOSURE TO CONSUMER REPORTING AGENCIES: None. POLICIES AND PRACTICES FOR STORING, RETRIEVING, ACCESSING, RETAINING, AND DISPOSING OF RECORDS IN THE SYSTEM: STORAGE: Electronic records are stored in secure file-servers located within secure facilities under the control of NCTC. Paper and other hard-copy records are stored in secured areas within the control of NCTC. RETRIEVABILITY: By name, social security number, or other identifier. Information may be retrieved from this System of Records by automated or hand searches based on existing indices and automated capabilities utilized in the normal course of business. Only authorized personnel may search this system. SAFEGUARDS: Information in this system is safeguarded in accordance with recommended and/or prescribed administrative, physical, and technical safeguards. Records are maintained in a secure government or contractor facility with access to the facility limited to authorized personnel only and authorized and escorted visitors. Physical security protections include guards and locked facilities requiring badges and passwords for access. Records are accessed only by authorized government personnel and contractors holding appropriate security clearances and who have a valid business reason to access the records. Communications are encrypted where required and other safeguards are in place to monitor and audit access and to detect intrusions. Backup tapes are maintained in a secure, off-site location. RETENTION AND DISPOSAL: Pursuant to 44 U.S.C. 3303a(d) and 36 CFR Chapter 12, Subchapter B, Part 1228—Disposition of Federal Records, access authorization records will be maintained and disposed of in accordance with the National Archives and Records Administration
(NARA)General Records Schedule
(GRS)Nos. 18 (facility access) and 24 (computer access). SYSTEM MANAGER(S) AND ADDRESS: NCTC Information Management Officer, c/o Director, Information Management Office, Office of the Director of National Intelligence, Washington, DC 20511. NOTIFICATION PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. Individuals seeking to learn whether this system contains non-exempt information about them (“notification”) should address inquiries to the ODNI at the address and according to the requirements set forth below under the heading “Record Access Procedures.” RECORD ACCESS PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. A request for access to non-exempt records shall be made in writing with the envelope and letter clearly marked “Privacy Act Request.” Each request must provide the requester's full name and complete address. The requester must sign the request and have it verified by a notary public. Alternately, the request may be submitted under 28 U.S.C. 1746, certifying the requester's identity and acknowledging that obtaining records under false pretenses constitutes a criminal offense. Requests for access to information must be addressed to the Director, Information Management Office, Office of the Director of National Intelligence, Washington, DC 20511. Regulations governing access to one's records or for appealing an initial determination concerning access to records are contained in the ODNI regulation implementing the Privacy Act. CONTESTING RECORD PROCEDURES: As specified below, records in this system are exempt from certain notification, access, and amendment procedures. Individuals seeking to correct or amend non-exempt records should address their requests to the ODNI at the address and according to the requirements set forth above under the heading “Record Access Procedures.” Regulations governing access to and amendment of one's records or for appealing an initial determination concerning access or amendment of records are contained in the ODNI regulation implementing the Privacy Act. RECORD SOURCE CATEGORIES: NCTC staff, other individuals seeking access, and their employing entities provide personnel-related information upon entrance on duty and/or as part of access authorization requirements. Authorized NCTC officials provide information about specific grants of access to eligible systems users. EXEMPTIONS CLAIMED FOR THE SYSTEM: Records contained within this System of Records may be exempted from the requirements of subsections (c)(3); (d)(1), (2), (3), (4); (e)(1) and (e)(4)(G), (H), (I); and
(f)of the Privacy Act pursuant to 5 U.S.C. 552a(k)(1). Records may be exempted from these subsections or, additionally, from the requirements of subsections (c)(4); (e)(2), (3), (5), (8), (12); and
(g)of the Privacy Act consistent with any exemptions claimed under 5 U.S.C. 552a(j) or
(k)by the originator of the record, provided the reason for the exemption remains valid and necessary. SYSTEM NAME: National Counterterrorism Center Telephone Directory (ODNI/NCTC-003). SECURITY CLASSIFICATION: The classification of records in this system can range from UNCLASSIFIED to SECRET. SYSTEM LOCATION: National Counterterrorism Center (NCTC), Office of the Director of National intelligence (ODNI), Washington, DC 20511. CATEGORIES OF INDIVIDUALS COVERED BY THE SYSTEM: Current NCTC staff (NCTC employees, detailees, assignees, employees of NCTC industrial contractors, and independent contractors to NCTC). CATEGORIES OF RECORDS IN THE SYSTEM: Biographic data, including name, employer, job title, address, phone numbers, and emergency contact information. AUTHORITY FOR MAINTENANCE OF THE SYSTEM: The Intelligence Reform and Terrorism Prevention Act of 2004, Pub. L. No. 108-458, 118 Stat. 3638 (Dec. 17, 2004); The National Security Act of 1947, as amended, 50 U.S.C. 401-442; Exec. Order No. 13,354, 69 Fed. Reg. 53,589 (2004); Exec. Order No. 12,333, as amended, 46 Fed. Reg. 59,941 (1981). PURPOSE(S): The NCTC Telephone Directory serves as the central personnel directory for NCTC. Routine Uses Of Records Maintained In The System, Including Categories Of Users And The Purposes Of Such Uses: See General Routine Uses Applicable to More Than One ODNI Privacy Act System of Records, Subpart C of ODNI's Privacy Act Regulation published concurrently with this notice and incorporated by reference (see also *http://www.dni.gov* ). DISCLOSURE TO CONSUMER REPORTING AGENCIES: None. POLICIES AND PRACTICES FOR STORING, RETRIEVING, ACCESSING, RETAINING, AND DISPOSING OF RECORDS IN THE SYSTEM: STORAGE: Electronic records are stored in secure file-servers located within secure facilities under the control of NCTC. Paper and other hard-copy records are stored in secured areas within the control of NCTC. RETRIEVABILITY: By name, social security number, or other identifier. Information may be retrieved from this System of Records by automated or hand searches based on existing indices and automated capabilities utilized in the normal course of business. Only authorized personnel may search this system. SAFEGUARDS: Information in this system is safeguarded in accordance with recommended and/or prescribed administrative, physical, and technical safeguards. Records are maintained in a secure government or contractor facility with access to the facility limited to authorized personnel only and authorized and escorted visitors. Physical security protections include guards and locked facilities requiring badges and passwords for access. Records are accessed only by authorized government personnel and contractors holding appropriate security clearances and who have a valid business reason to access the records. Communications are encrypted where required and other safeguards are in place to monitor and audit access and to detect intrusions. Backup tapes are maintained in a secure, off-site location. RETENTION AND DISPOSAL: Pursuant to 44 U.S.C. 3303a(d) and 36 CFR Chapter 12, Subchapter B, Part 1228-Disposition of Federal Records, the NCTC Telephone Directory will be maintained and disposed of in accordance with the National Archives and Records Administration
(NARA)General Records Schedule
(GRS)No. 23. SYSTEM MANAGER(S) AND ADDRESS: NCTC Information Management Officer, c/o Director, Information Management Office, Office of the Director of National Intelligence, Washington, DC 20511. NOTIFICATION PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. Individuals seeking to learn whether this system contains non-exempt information about them (“notification”) should address inquiries to the ODNI at the address and according to the requirements set forth below under the heading “Record Access Procedures.” RECORD ACCESS PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. A request for access to non-exempt records shall be made in writing with the envelope and letter clearly marked “Privacy Act Request.” Each request must provide the requester's full name and complete address. The requester must sign the request and have it verified by a notary public. Alternately, the request may be submitted under 28 U.S.C. 1746, certifying the requester's identity and acknowledging that obtaining records under false pretenses constitutes a criminal offense. Requests for access to information must be addressed to the Director, Information Management Office, Office of the Director of National Intelligence, Washington, DC 20511. Regulations governing access to one's records or for appealing an initial determination concerning access to records are contained in the ODNI regulation implementing the Privacy Act. CONTESTING RECORD PROCEDURES: As specified below, records in this system are exempt from certain notification, access, and amendment procedures. Individuals seeking to correct or amend non-exempt records should address their requests to the ODNI at the address and according to the requirements set forth above under the heading “Record Access Procedures.” Regulations governing access to and amendment of one's records or for appealing an initial determination concerning access or amendment of records are contained in the ODNI regulation implementing the Privacy Act. RECORD SOURCE CATEGORIES: NCTC staff (NCTC employees, detailees, assignees, employees of NCTC industrial contractors, and independent contractors to NCTC) provide this information upon entrance on duty at NCTC. EXEMPTIONS CLAIMED FOR THE SYSTEM: Records contained within this System of Records may be exempted from the requirements of subsections (c)(3); (d)(1), (2), (3), (4); (e)(1) and (e)(4)(G), (H), (I); and
(f)of the Privacy Act pursuant to 5 U.S.C. 552a(k)(1). Records may be exempted from these subsections or, additionally, from the requirements of subsections (c)(4); (e)(2), (3), (5), (8), (12); and
(g)of the Privacy Act consistent with any exemptions claimed under 5 U.S.C. 552a(j) or
(k)by the originator of the record, provided the reason for the exemption remains valid and necessary. SYSTEM NAME: National Counterterrorism Center Knowledge Repository (SANCTUM)(ODNI/NCTC-004). SECURITY CLASSIFICATION: The classification of records in this system can range from UNCLASSIFIED to TOP SECRET. SYSTEM LOCATION: National Counterterrorism Center (NCTC), Office of the Director of National Intelligence (ODNI), Washington, DC 20511. CATEGORIES OF INDIVIDUALS COVERED BY THE SYSTEM: Individuals known or suspected to be or have been engaged in conduct constituting, in preparation for, in aid of, or related to terrorism. CATEGORIES OF RECORDS IN THE SYSTEM: Classified and unclassified information from diplomatic, financial, military, homeland security, intelligence, or law enforcement activities relating to counterterrorism or from any Federal, State, or local government; foreign government information; public source material; or, information from other sources necessary to fulfill the mission of NCTC. This includes information concerning known or suspected terrorists including, but not limited to, reports, message traffic, biographic data, biometrics, relationships or associations, or other information related to counterterrorism. AUTHORITY FOR MAINTENANCE OF THE SYSTEM: The Intelligence Reform and Terrorism Prevention Act of 2004, Pub. L. No. 108-458, 118 Stat. 3638 (Dec. 17, 2004); The National Security Act of 1947, as amended, 50 U.S.C. 401-442; Exec. Order No. 13,354, 69 Fed. Reg. 53,589 (2004); E.O. 12,333, as amended, 46 Fed. Reg. 59,941 (1981). PURPOSE(S): NCTC Knowledge Repository (SANCTUM) supports NCTC's approach to strengthening the sharing of terrorism information through the development of an integrated information technology architecture and knowledge base. Specifically, SANCTUM provides a centralized repository of information needed to fight terrorism as well as a set of common services to access, manage, enrich, and deliver this information to end users and mission-oriented applications. ROUTINE USES OF RECORDS MAINTAINED IN THE SYSTEM, INCLUDING CATEGORIES OF USERS AND THE PURPOSES OF SUCH USES: See General Routine Uses Applicable to More Than One ODNI Privacy Act System of Records, Subpart C of ODNI's Privacy Act Regulation published concurrently with this notice and incorporated by reference (see also *http://www.dni.gov* ). DISCLOSURE TO CONSUMER REPORTING AGENCIES: None. POLICIES AND PRACTICES FOR STORING, RETRIEVING, ACCESSING, RETAINING, AND DISPOSING OF RECORDS IN THE SYSTEM: STORAGE: Electronic records are stored in secure file-servers located within secure facilities under the control of NCTC. Paper and other hard-copy records are stored in secured areas within the control of NCTC. RETRIEVABILITY: By name or other identifier. Information may be retrieved from this System of Records by automated or hand searches based on existing indices and automated capabilities utilized in the normal course of business. Only authorized personnel with a need to know may search this system. SAFEGUARDS: Information in this system is safeguarded in accordance with recommended and/or prescribed administrative, physical, and technical safeguards. Records are maintained in a secure government or contractor facility with access to the facility limited to authorized personnel only and authorized and escorted visitors. Physical security protections include guards and locked facilities requiring badges and passwords for access. Records are accessed only by authorized government personnel and contractors holding appropriate security clearances and who have a valid business reason to access the records. Communications are encrypted where required and other safeguards are in place to monitor and audit access and to detect intrusions. Backup tapes are maintained in a secure, off-site location. RETENTION AND DISPOSAL: Pursuant to 44 U.S.C. 3303a(d) and 36 CFR Chapter 12, Subchapter B, Part 1228—Disposition of Federal Records, records will not be disposed of until such time as the National Archives and Records Administration
(NARA)approves an applicable ODNI Records Control Schedule. SYSTEM MANAGER(S) AND ADDRESS: NCTC SANCTUM System Manager, c/o Director, Information Management Office, Office of the Director of National Intelligence, Washington, DC 20511. NOTIFICATION PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. Individuals seeking to learn whether this system contains non-exempt information about them (“notification”) should address inquiries to the ODNI at the address and according to the requirements set forth below under the heading “Record Access Procedures.” RECORD ACCESS PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. A request for access to non-exempt records shall be made in writing with the envelope and letter clearly marked “Privacy Act Request.” Each request must provide the requester's full name and complete address. The requester must sign the request and have it verified by a notary public. Alternately, the request may be submitted under 28 U.S.C. 1746, certifying the requester's identity and acknowledging that obtaining records under false pretenses constitutes a criminal offense. Requests for access to information must be addressed to the Director, Information Management Office, Office of the Director of National Intelligence, Washington, DC 20511. Regulations governing access to one's records or for appealing an initial determination concerning access to records are contained in the ODNI regulation implementing the Privacy Act. CONTESTING RECORD PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. Individuals seeking to correct or amend non-exempt records should address their requests to the ODNI at the address and according to the requirements set forth above under the heading “Record Access Procedures.” Regulations governing access to and amendment of one's records or for appealing an initial determination concerning access or amendment of records are contained in the ODNI regulation implementing the Privacy Act. RECORD SOURCE CATEGORIES: Information may be obtained from diplomatic, financial, military, homeland security, intelligence, or law enforcement activities relating to counterterrorism, or from any Federal, State, or local government; foreign government information; private sector or public source material; or, information from other sources necessary to fulfill the mission of NCTC. EXEMPTIONS CLAIMED FOR THE SYSTEM: Records contained within this System of Records may be exempted from the requirements of subsections (c)(3);(d)(1),(2),(3),(4); (e)(1) and (e)(4)(G),(H),(I); and
(f)of the Privacy Act pursuant to 5 U.S.C. 552a(k)(1) and (k)(2). Records may be exempted from these subsections or, additionally, from the requirements of subsections (c)(4);(e)(2),(3),(5),(8),(12); and
(g)of the Privacy Act consistent with any exemptions claimed under 5 U.S.C. 552a(j) or
(k)by the originator of the record, provided the reason for the exemption remains valid and necessary. SYSTEM NAME: National Counterterrorism Center On-line (NCTC Online or NOL)(ODNI/NCTC-005). SECURITY CLASSIFICATION: The classification of records in this system can range from UNCLASSIFIED to TOP SECRET. SYSTEM LOCATION: National Counterterrorism Center (NCTC), Office of the Director of National Intelligence (ODNI), Washington, DC 20511. CATEGORIES OF INDIVIDUALS COVERED BY THE SYSTEM: Individuals known or suspected to be or have been engaged in conduct constituting, in preparation for, in aid of, or related to terrorism or counterterrorism and individuals who offer information pertaining to terrorism and counterterrorism. The system will also contain information about individuals who have access to the system for counterterrorism purposes. CATEGORIES OF RECORDS IN THE SYSTEM: Classified and unclassified intelligence possessed or acquired by the United States Government pertaining to terrorism and counterterrorism; message traffic (cables); finished intelligence products and results of intelligence analysis and reporting (including law enforcement information); information gleaned through links to other systems, databases and collaborative features such as e-mail, communities of interest, and on-line chat rooms; information systems security analysis and reporting; publicly available information (including information contained in media reports and commercial databases); data concerning the providers of information; and, information from other sources necessary to fulfill the mission of NCTC. AUTHORITY FOR MAINTENANCE OF THE SYSTEM: The Intelligence Reform and Terrorism Prevention Act of 2004, Pub. L. No. 108-458, 118 Stat. 3638 (Dec. 17, 2004); The National Security Act of 1947, as amended, 50 U.S.C. 401-442; Exec. Order No. 13,354, 69 Fed. Reg. 53,589 (2004); Exec. Order No. 12,333, as amended, 46 Fed. Reg. 59,941 (1981). PURPOSE(S): National Counterterrorism Center Online is maintained for the purpose of compiling, assessing, analyzing, integrating, and disseminating information relating to terrorism and counterterrorism. ROUTINE USES OF RECORDS MAINTAINED IN THE SYSTEM, INCLUDING CATEGORIES OF USERS AND THE PURPOSES OF SUCH USES: See General Routine Uses Applicable to More Than One ODNI Privacy Act System of Records, Subpart C of ODNI's Privacy Act Regulation published concurrently with this notice and incorporated by reference (see also *http://www.dni.gov* ). DISCLOSURE TO CONSUMER REPORTING AGENCIES: None. POLICIES AND PRACTICES FOR STORING, RETRIEVING, ACCESSING, RETAINING, AND DISPOSING OF RECORDS IN THE SYSTEM: STORAGE: Electronic records are stored in secure file-servers located within secure facilities under the control of NCTC. Paper and other hard-copy records are stored in secured areas within the control of NCTC. RETRIEVABILITY: By name, social security number, or other identifier. Information may be retrieved from this System of Records by automated or hand searches based on existing indices and automated capabilities utilized in the normal course of business. Only authorized personnel with a need to know may search this system. SAFEGUARDS: Information in this system is safeguarded in accordance with recommended and/or prescribed administrative, physical, and technical safeguards. Records are maintained in a secure government or contractor facility with access to the facility limited to authorized personnel only and authorized and escorted visitors. Physical security protections include guards and locked facilities requiring badges and passwords for access. Records are accessed only by authorized government personnel and contractors holding appropriate security clearances and who have a valid business reason to access the records. Communications are encrypted where required and other safeguards are in place to monitor and audit access and to detect intrusions. Backup tapes are maintained in a secure, off-site location. RETENTION AND DISPOSAL: Pursuant to 44 U.S.C. 3303a(d) and 36 CFR Chapter 12, Subchapter B, Part 1228—Disposition of Federal Records, records will not be disposed of until such time as the National Archives and Records Administration
(NARA)approves an applicable ODNI Records Control Schedule. SYSTEM MANAGER(S) AND ADDRESS: NCTC Online System Manager, c/o Director, Information Management Office, Office of the Director of National Intelligence, Washington, DC 20511. NOTIFICATION PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. Individuals seeking to learn whether this system contains non-exempt information about them (“notification”) should address inquiries to the ODNI at the address and according to the requirements set forth below under the heading “Record Access Procedures.” RECORD ACCESS PROCEDURES: As specified below, records in this system have been exempted from certain notification access, and amendment procedures. A request for access to non-exempt records shall be made in writing with the envelope and letter clearly marked “Privacy Act Request.” Each request must provide the requester's full name and complete address. The requester must sign the request and have it verified by a notary public. Alternately, the request may be submitted under 28 U.S.C. 1746, certifying the requester's identity and acknowledging that obtaining records under false pretenses constitutes a criminal offense. Requests for access to information must be addressed to the Director, Information Management Office, Office of the Director of National Intelligence, Washington, D.C. 20511. Regulations governing access to one's records or for appealing an initial determination concerning access to records are contained in the ODNI regulation implementing the Privacy Act. CONTESTING RECORD PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. Individuals seeking to correct or amend non-exempt records should address their requests to the ODNI at the address and according to the requirements set forth above under the heading “Record Access Procedures.” Regulations governing access to and amendment of one's records or for appealing an initial determination concerning access or amendment of records are contained in the ODNI regulation implementing the Privacy Act. RECORD SOURCE CATEGORIES: Information may be obtained from diplomatic, financial, military, homeland security, intelligence or law enforcement activities relating to counterterrorism or from any federal, state, or local government; foreign government information; private sector or public source material; information from other sources necessary to fulfill the mission of NCTC. EXEMPTIONS CLAIMED FOR THE SYSTEM: Records contained within this System of Records may be exempted from the requirements of subsections (c)(3); (d)(1), (2), (3), (4); (e)(1) and (e)(4)(G), (H), (I); and
(f)of the Privacy Act pursuant to 5 U.S.C. 552a(k)(1) and (k)(2). Records may be exempted from these subsections or, additionally, from the requirements of subsections (c)(4); (e)(2), (3), (5), (8), (12); and
(g)of the Privacy Act consistent with any exemptions claimed under 5 U.S.C. 552a(j) or
(k)by the originator of the record, provided the reason for the exemption remains valid and necessary. SYSTEM NAME: National Counterterrorism Center Partnership Management Records (ODNI/NCTC-006). SECURITY CLASSIFICATION: The classification of records in this system can range from UNCLASSIFIED to TOP SECRET. SYSTEM LOCATION: National Counterterrorism Center (NCTC), Office of the Director of National Intelligence (ODNI), Washington, DC 20511. CATEGORIES OF INDIVIDUALS COVERED BY THE SYSTEM: Current NCTC staff (NCTC employees, detailees, assignees, employees of NCTC industrial contractors, and independent contractors to NCTC) and external participants in activities relating to intelligence matters. CATEGORIES OF RECORDS IN THE SYSTEM: Information concerning the purpose or topic of the intelligence activity; the timing, location, or participants involved in each intelligence activity; and, the results of each intelligence activity. AUTHORITY FOR MAINTENANCE OF THE SYSTEM: The Intelligence Reform and Terrorism Prevention Act of 2004, Pub. L. No. 108-458, 118 Stat. 3638 (Dec. 17, 2004); The National Security Act of 1947, as amended, 50 U.S.C. 401-442; Exec. Order No. 13,354, 69 Fed. Reg. 53,589 (2004); Exec. Order No. 12,333, as amended, 46 Fed. Reg. 59,941 (1981). PURPOSE: NCTC Partnership Management Records are used to manage, track, and facilitate NCTC's relationships with other governmental entities, non-governmental entities, representatives of such entities, and individuals. ROUTINE USES OF RECORDS MAINTAINED IN THE SYSTEM, INCLUDING CATEGORIES OF USERS AND THE PURPOSES OF SUCH USES: See General Routine Uses Applicable to More Than One ODNI Privacy Act System of Records, Subpart C of ODNI's Privacy Act Regulation published concurrently with this notice and incorporated by reference (see also *http://www.dni.gov* ). DISCLOSURE TO CONSUMER REPORTING AGENCIES: None. POLICIES AND PRACTICES FOR STORING, RETRIEVING, ACCESSING, RETAINING, AND DISPOSING OF RECORDS IN THE SYSTEM: STORAGE: Electronic records are stored in secure file-servers located within secure facilities under the control of NCTC. Paper and other hard-copy records are stored in secured areas within the control of NCTC. RETRIEVABILITY: By name, social security number, or other identifier. Information may be retrieved from this System of Records by automated or hand searches based on existing indices and automated capabilities utilized in the normal course of business. Only authorized personnel with a need to know may search this system. SAFEGUARDS: Information in this system is safeguarded in accordance with recommended and/or prescribed administrative, physical, and technical safeguards. Records are maintained in a secure government or contractor facility with access to the facility limited to authorized personnel only and authorized and escorted visitors. Physical security protections include guards and locked facilities requiring badges and passwords for access. Records are accessed only by authorized government personnel and contractors holding appropriate security clearances and who have a valid business reason to access the records. Communications are encrypted where required and other safeguards are in place to monitor and audit access and to detect intrusions. Backup tapes are maintained in a secure, off-site location. RETENTION AND DISPOSAL: Pursuant to 44 U.S.C. 3303a(d) and 36 CFR Chapter 12, Subchapter B, Part 1228—Disposition of Federal Records, records in the system will not be disposed of until such time as the National Archives and Records Administration approves an applicable ODNI Records Control Schedule. SYSTEM MANAGER AND ADDRESS: NCTC Partnership Management Database System Manager, c/o Director, Information Management Office, Office of the Director of National Intelligence, Washington, DC 20511. NOTIFICATION PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. Individuals seeking to learn whether this system contains non-exempt information about them (“notification”) should address inquiries to the ODNI at the address and according to the requirements set forth below under the heading “Record Access Procedures.” RECORD ACCESS PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. A request for access to non-exempt records shall be made in writing with the envelope and letter clearly marked “Privacy Act Request.” Each request must provide the requester's full name and complete address. The requester must sign the request and have it verified by a notary public. Alternately, the request may be submitted under 28 U.S.C. 1746, certifying the requester's identity and acknowledging that obtaining records under false pretenses constitutes a criminal offense. Requests for access to information must be addressed to the Director, Information Management Office, Office of the Director of National Intelligence, Washington, DC 20511. Regulations governing access to one's records or for appealing an initial determination concerning access to records are contained in the ODNI regulation implementing the Privacy Act. CONTESTING RECORD PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. Individuals seeking to correct or amend non-exempt records should address their requests to the ODNI at the address and according to the requirements set forth above under the heading “Record Access Procedures.” Regulations governing access to and amendment of one's records or for appealing an initial determination concerning access or amendment of records are contained in the ODNI regulation implementing the Privacy Act. RECORD SOURCE CATEGORIES: Information concerning NCTC's external outreach and liaison efforts with governmental and non-governmental entities, their representatives, and associated individuals. EXEMPTIONS CLAIMED FOR THE SYSTEM: Records contained within this System of Records may be exempted from the requirements of subsections (c)(3); (d)(1), (2), (3), (4); (e)(1) and (e)(4)(G), (H), (I); and
(f)of the Privacy Act pursuant to 5 U.S.C. 552a(k)(1). Records may be exempted from these subsections or, additionally, from the requirements of subsections (c)(4); (e)(2), (3), (5), (8), (12); and
(g)of the Privacy Act consistent with any exemptions claimed under 5 U.S.C. 552a(j) or
(k)by the originator of the record, provided the reason for the exemption remains valid and necessary. SYSTEM NAME: National Counterterrorism Center Tacit Knowledge Management Records (ODNI/NCTC-007). SECURITY CLASSIFICATION: The classification of records in this system can range from UNCLASSIFIED to TOP SECRET. SYSTEM LOCATION: National Counterterrorism Center (NCTC), Office Of The Director Of National Intelligence (ODNI), Washington, DC 20511. CATEGORIES OF INDIVIDUALS COVERED BY THE SYSTEM: Current and former NCTC staff (nctc employees, detailees, assignees, employees of NCTC industrial contractors, and independent contractors to NCTC). CATEGORIES OF RECORDS IN THE SYSTEM: Documentation relating to the training, skills, and experience of NCTC staff in matters of intelligence analysis, including name, employing entity, job title, relevant employment history and specific expertise. AUTHORITY FOR MAINTENANCE OF THE SYSTEM: The Intelligence Reform And Terrorism Prevention Act Of 2004, Pub. L. No. 108-458, 118 Stat. 3638 (Dec. 17, 2004); The National Security Act Of 1947, As Amended, 50 U.S.C. 401-442; Exec. Order No. 13,354, 69 Fed. Reg. 53,589; Exec. Order No.12,333, As Amended, 46 Fed. Reg. 59,941 (1981). PURPOSE(S): NCTC Tacit Knowledge Management Records constitute a repository of pertinent knowledge and experience held by the NCTC workforce that NCTC can draw upon to modify, enhance, or otherwise inform its intelligence integration and analysis activities. ROUTINE USES OF RECORDS MAINTAINED IN THE SYSTEM, INCLUDING CATEGORIES OF USERS AND THE PURPOSES OF SUCH USES: See General Routine Uses Applicable to more than one ODNI Privacy Act System of Records, Subpart C of ODNI's Privacy Act Regulation published concurrently with this notice and incorporated by reference (see also *http://www.dni.gov* ). DISCLOSURE TO CONSUMER REPORTING AGENCIES: None. POLICIES AND PRACTICES FOR STORING, RETRIEVING, ACCESSING, RETAINING, AND DISPOSING OF RECORDS IN THE SYSTEM: STORAGE: Electronic records are stored in secure file-servers located within secure facilities under the control of NCTC. Paper and other hard-copy records are stored in secured areas within the control of NCTC. RETRIEVABILITY: By name or other identifier, information may be retrieved from this system of records by automated or hand searches based on existing indices and automated capabilities utilized in the normal course of business. Only authorized personnel with a need to know may search this system. SAFEGUARDS: Information in this system is safeguarded in accordance with recommended and/or prescribed administrative, physical, and technical safeguards. Records are maintained in a secure government or contractor facility with access to the facility limited to authorized personnel only and authorized and escorted visitors. Physical security protections include guards and locked facilities requiring badges and passwords for access. Records are accessed only by authorized government personnel and contractors holding appropriate security clearances and who have a valid business reason to access the records. Communications are encrypted where required and other safeguards are in place to monitor and audit access and to detect intrusions. Backup tapes are maintained in a secure, off-site location. RETENTION AND DISPOSAL: Pursuant to 44 U.S.C. 3303a(D) and 36 Cfr Chapter 12, Subchapter B, Part 1228—Disposition Of Federal Records, Records will not be disposed of until such time as the National Archives And Records Administration
(NARA)approves an applicable ODNI Records Control Schedule. SYSTEM MANAGER(S) AND ADDRESS: NCTC Information Management Officer, c/o Director Information Management Office, Office Of The Director Of National Intelligence, Washington, DC 20511. NOTIFICATION PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. Individuals seeking to learn whether this system contains non-exempt information about them (“Notification”) should address inquiries to the ODNI at the address and according to the requirements set forth below under the heading “Record Access Procedures.” RECORD ACCESS PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. A request for access to non-exempt records shall be made in writing with the envelope and letter clearly marked “Privacy Act Request.” Each request must provide the requester's full name and complete address. The requester must sign the request and have it verified by a notary public. Alternately, the request may be submitted under 28 U.S.C. 1746, certifying the requester's identity and acknowledging that obtaining records under false pretenses constitutes a criminal offense. Requests for access to information must be addressed to the Director, Information Management Office, Office Of The Director Of National Intelligence, Washington, DC 20511. Regulations governing access to one's records or for appealing an initial determination concerning access to records are contained in the ODNI regulation implementing the privacy act. CONTESTING RECORD PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. Individuals seeking to correct or amend non-exempt records should address their requests to the ODNI at the address and according to the requirements set forth above under the heading “Record Access Procedures.” Regulations governing access to and amendment of one's records or for appealing an initial determination concerning access or amendment of records are contained in the ODNI regulation implementing the Privacy Act. RECORD SOURCE CATEGORIES: Personal interviews with NCTC staff. EXEMPTIONS CLAIMED FOR THE SYSTEM: Records contained within this system of records may be exempted from the requirements of subsections (C)(3); (D)(1), (2), (3), (4); (E)(1) And (E)(4)(G), (H), (I); And
(F)Of The Privacy Act Pursuant To 5 U.S.C. 552a(K)(1). Records may be exempted from these subsections or, additionally, from the requirements of subsections (C)(4);(E)(2),(3),(5),(8),(12); and
(G)of the privacy act consistent with any exemptions claimed under 5 U.S.C. 552a(J) or
(K)by the originator of the record, provided the reason for the exemption remains valid and necessary. SYSTEM NAME: National Counterterrorism Center Terrorism Analysis Records (ODNI/NCTC-008). SECURITY CLASSIFICATION: The classification of records in this system can range from unclassified to top secret. SYSTEM LOCATION: National Counterterrorism Center (NCTC), Office Of The Director Of National Intelligence (ODNI), Washington, DC 20511. CATEGORIES OF INDIVIDUALS COVERED BY THE SYSTEM: Individuals known or suspected to be or have been engaged in conduct constituting, in preparation for, in aid of, or related to terrorism or who have been linked in any manner to terrorism; individuals who offer information pertaining to terrorism and counterterrorism. This system will also contain information about individuals who have access to the system for counterterrorism purposes. CATEGORIES OF RECORDS IN THE SYSTEM: Classified and unclassified information from diplomatic, financial, military, homeland security, intelligence, or law enforcement activities relating to counterterrorism, or from any Federal, State, or local government; foreign government information; public source material; or information from other sources necessary to fulfill the mission of NCTC. This includes information concerning known or suspected terrorists including, but not limited to, reports, message traffic, biographic data, biometrics, relationships or associations, or other information related to counterterrorism. AUTHORITY FOR MAINTENANCE OF THE SYSTEM: The Intelligence Reform and Terrorism Prevention Act of 2004, Pub. L. No. 108-458, 118 stat. 3638 (Dec. 17, 2004); the National Security Act of 1947, as amended, 50 U.S.C. 401-442; Exec. Order No. 13,354, 69 Fed. Reg. 53,589 (2004); Exec. Order No. 12,333, as amended, 46 Fed. Reg. 59,941 (1981). PURPOSE(S): NCTC Terrorism Analysis Records serve NCTC analysts in developing threat reports, threat matrices, analytic reports and advisories, situation reports, and other terrorism analytical products for distribution to intelligence consumers. ROUTINE USES OF RECORDS MAINTAINED IN THE SYSTEM, INCLUDING CATEGORIES OF USERS AND THE PURPOSES OF SUCH USES: See General Routine Uses Applicable To More Than One Odni Privacy Act System Of Records, Subpart C Of Odni's Privacy Act Regulation Published Concurrently with this notice and incorporated by reference (See Also *http://www.dni.gov* ). DISCLOSURE TO CONSUMER REPORTING AGENCIES: NONE. POLICIES AND PRACTICES FOR STORING, RETRIEVING, ACCESSING, RETAINING, AND DISPOSING OF RECORDS IN THE SYSTEM: STORAGE: Electronic records are stored in secure file-servers located within secure facilities within NCTC. Paper and Other Hard-Copy Records are stored in secured areas within the control of NCTC. RETRIEVABILITY: By name or other identifier. Information may be retrieved from this system of records by automated or hand searches based on existing indices and automated capabilities utilized in the normal course of business. Only authorized personnel with a need to know may search this system. SAFEGUARDS: Information in this system is safeguarded in accordance with recommended and/or prescribed administrative, physical, and technical safeguards. Records are maintained in a secure government or contractor facility with access to the facility limited to authorized personnel only and authorized and escorted visitors. Physical security protections include guards and locked facilities requiring badges and passwords for access. Records are accessed only by authorized government personnel and contractors holding appropriate security clearances and who have a valid business reason to access the records. Communications are encrypted where required and other safeguards are in place to monitor and audit access and to detect intrusions. Backup tapes are maintained in a secure, off-site location. RETENTION AND DISPOSAL: Pursuant To 44 U.S.C. 3303a(D) and 36 CFR Chapter 12, Subchapter B, Part 1228—Disposition of Federal Records, Records will not be disposed of until such time as the National Archives And Records Administration Approves an Applicable ODNI Records Control Schedule. SYSTEM MANAGER(S) AND ADDRESS: NCTC Information Management Officer, c/o Director, Information Management Office, Office Of The Director Of National Intelligence, Washington, DC 20511. NOTIFICATION PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. Individuals seeking to learn whether this system contains non-exempt information about them (“notification”) should address inquiries to the ODNI at the address and according to the requirements set forth below under the heading “record access procedures.” RECORD ACCESS PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. A request for access to non-exempt records shall be made in writing with the envelope and letter clearly marked “privacy act request.” Each request must provide the requester's full name and complete address. The requester must sign the request and have it verified by a notary public. Alternately, the request may be submitted under 28 U.S.C. 1746, certifying the requester's identity and acknowledging that obtaining records under false pretenses constitutes a criminal offense. Requests for access to information must be addressed to the director, information management office, office of the director of national intelligence, Washington, DC 20511. Regulations governing access to one's records or for appealing an initial determination concerning access to records are contained in the ODNI regulation implementing the privacy act. CONTESTING RECORD PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. Individuals seeking to correct or amend non-exempt records should address their requests to the ODNI at the address and according to the requirements set forth above under the heading “record access procedures.” Regulations governing access to and amendment of one's records or for appealing an initial determination concerning access or amendment of records are contained in the ODNI regulation implementing the Privacy Act. RECORD SOURCE CATEGORIES: Information may be obtained from diplomatic, financial, military, homeland security, intelligence, or law enforcement activities relating to counterterrorism, or from any federal, state, or local government; foreign government information; private sector Or public source material; or information from other sources necessary to fulfill the mission of NCTC. EXEMPTIONS CLAIMED FOR THE SYSTEM: Records Contained Within This System Of Records May Be Exempted From The Requirements Of Subsections (C)(3); (D)(1),(2),(3),(4); (E)(1) And (E)(4)(G),(H),(I); And
(F)Of The Privacy Act Pursuant To 5 U.S.C. 552a(K)(1) And (K)(2). Records May Be Exempted From These Subsections Or, Additionally, From The Requirements Of Subsections (C)(4);(E)(2),(3),(5),(8),(12); And
(G)Of The Privacy Act Consistent With Any Exemptions Claimed Under 5 U.S.C. 552a(J) Or
(K)By The Originator Of The Record, Provided The Reason For The Exemption Remains Valid And Necessary. SYSTEM NAME: Terrorist identities records (ODNI/NCTC-009). SECURITY CLASSIFICATION: The classification of records in this system can range from unclassified to top secret. SYSTEM LOCATION: National Counterterrorism Center (NCTC), Office of the Director of National Intelligence (ODNI), Washington, DC 20511. CATEGORIES OF INDIVIDUALS COVERED BY THE SYSTEM: Individuals known or suspected to be or have been engaged in conduct constituting, in preparation for, in aid of, or related to terrorism; information concerning individuals affiliated with terrorist groups; individuals possessing certain visas; and individuals who may have been misidentified in relation to one or more of the previous categories for purposes of avoiding future misidentification. The system will also contain information about individuals who have access to the system for counterterrorism purposes. CATEGORIES OF RECORDS IN THE SYSTEM: Individuals known or suspected to be or have been engaged in conduct constituting, in preparation for, in aid of, or related to terrorism or counterterrorism, including names and aliases; dates of birth; places of birth, alien registration numbers, visa numbers, social security account numbers, or unique identifying numbers; passport information; countries of origin or nationalities; physical identifiers; known locations; photographs or renderings; fingerprints or biometrics; employment data; phone numbers or license plate numbers; and other information about such individuals. This system includes the Terrorist Identities Datamart Environment (TIDE), which maintains international terrorist watch list recommendations and distributes them to the Terrorist Screening Center for screening by U.S. government agencies. AUTHORITY FOR MAINTENANCE OF THE SYSTEM: The Intelligence Reform and Terrorism Prevention Act of 2004, Pub. L. No. 108-458, 118 Stat. 3638 (Dec. 17, 2004); The National Security Act of 1947, as amended, 50 U.S.C. 401-442; Exec. Order No. 13,388, 70 FR 62,023 (2005); Exec. Order No. 13,354, 69 Fed. Reg. 53,589 (2004); Exec. Order No. 12,333 as amended, 46 FR 59,941 (1981); Homeland Security Presidential Directive-6; Homeland Security Presidential Directive-11. PURPOSE(S): NCTC Terrorist Identities Records implement NCTC's mission to serve as the central and shared knowledge bank on known and suspected terrorists pursuant to Section 119 of the National Security Act of 1947, 50 U.S.C. 404o, as well as Homeland Security Presidential Directive-6, “Integration and Use of Screening Information” (September 16, 2003) and Homeland Security Presidential Directive-11, “Comprehensive Terrorist—Related Screening Procedures” (Aug. 27, 2004). ROUTINE USES OF RECORDS MAINTAINED IN THE SYSTEM, INCLUDING CATEGORIES OF USERS AND THE PURPOSES OF SUCH USES: See General Routine Uses Applicable to More Than One ODNI Privacy Act System of Records, Subpart C of ODNI's Privacy Act Regulation published concurrently with this notice and incorporated by reference (see also *http://www.dni.gov* ). DISCLOSURE TO CONSUMER REPORTING AGENCIES: None. POLICIES AND PRACTICES FOR STORING, RETRIEVING, ACCESSING, RETAINING, AND DISPOSING OF RECORDS IN THE SYSTEM: STORAGE: Electronic records are stored in secure file-servers located within secure facilities under the control of NCTC. Paper and other hard-copy records are stored in secured areas within the control of NCTC. RETRIEVABILITY: By name, social security number, or other identifier. Information may be retrieved from this System of Records by automated or hand searches based on existing indices and automated capabilities utilized in the normal course of business. Only authorized personnel with a need to know may search this system. SAFEGUARDS: Information in this system is safeguarded in accordance with recommended and/or prescribed administrative, physical, and technical safeguards. Records are maintained in a secure government or contractor facility with access to the facility limited to authorized personnel only and authorized and escorted visitors. Physical security protections include guards and locked facilities requiring badges and passwords for access. Records are accessed only by authorized government personnel and contractors holding appropriate security clearances and who have a valid business reason to access the records. Communications are encrypted where required and other safeguards are in place to monitor and audit access and to detect intrusions. Backup tapes are maintained in a secure, off-site location. RETENTION AND DISPOSAL: Pursuant to 44 U.S.C. 3303a(d) and 36 CFR Chapter 12, Subchapter B, Part 1228-Disposition of Federal Records, records will not be disposed of until such time as the National Archives and Records Administration
(NARA)approves an applicable ODNI Records Control Schedule. SYSTEM MANAGER(S) AND ADDRESS: NCTC Terrorist Identities Records System Manager, c/o Director, Information Management Office, Office of the Director of National Intelligence, Washington, DC 20511. NOTIFICATION PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. Individuals seeking to learn whether this system contains non-exempt information about them (“notification”) should address inquiries to the ODNI at the address and according to the requirements set forth below under the heading “Record Access Procedures.” RECORD ACCESS PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. A request for access to non-exempt records shall be made in writing with the envelope and letter clearly marked “Privacy Act Request.” Each request must provide the requester's full name and complete address. The requester must sign the request and have it verified by a notary public. Alternately, the request may be submitted under 28 U.S.C. 1746, certifying the requester's identity and acknowledging that obtaining records under false pretenses constitutes a criminal offense. Requests for access to information must be addressed to the Director, Information Management Office, Office of the Director of National Intelligence, Washington, DC 20511. Regulations governing access to one's records or for appealing an initial determination concerning access to records are contained in the ODNI regulation implementing the Privacy Act. CONTESTING RECORD PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. Individuals seeking to correct or amend non-exempt records should address their requests to the ODNI at the address and according to the requirements set forth above under the heading “Record Access Procedures.” Regulations governing access to and amendment of one's records or for appealing an initial determination concerning access or amendment of records are contained in the ODNI regulation implementing the Privacy Act. RECORD SOURCE CATEGORIES: Information may be obtained from diplomatic, financial, military, homeland security, intelligence or law enforcement activities relating to counterterrorism, or from any Federal, State, or local government; foreign government information; private sector or public source material; information from other sources necessary to fulfill the mission of NCTC. EXEMPTIONS CLAIMED FOR THE SYSTEM: Records contained within this System of Records may be exempted from the requirements of subsections (c)(3); (d)(1), (2), (3), (4); (e)(1) and (e)(4)(G), (H), (I); and
(f)of the Privacy Act pursuant to 5 U.S.C. 552a(k)(1) and (k)(2). Records may be exempted from these subsections or, additionally, from the requirements of subsections (c)(4); (e)(2), (3), (5), (8), (12); and
(g)of the Privacy Act consistent with any exemptions claimed under 5 U.S.C. 552a(j) or
(k)by the originator of the record, provided the reason for the exemption remains valid and necessary. [FR Doc. E7-25267 Filed 12-27-07; 8:45 am] BILLING CODE 3910-A7-P OFFICE OF THE DIRECTOR OF NATIONAL INTELLIGENCE Office of the National Counterintelligence Executive Privacy Act of 1974; System of Records AGENCY: Office of the National Counterintelligence Executive, Office of the Director of National Intelligence. ACTION: Notice to establish systems of records. SUMMARY: The Office of the National Counterintelligence Executive (ONCIX) is establishing a system of records subject to the Privacy Act of 1974, as amended, 5 U.S.C. 552a. This system of records is maintained by ONCIX. DATES: This action will be effective on February 6, 2008, unless comments are received that result in a contrary determination. ADDRESSES: You may submit comments, identified by [ RIN number], by any of the following methods: Federal eRulemaking Portal: *http://www.regulations.gov* . *Mail:* Director, Information Management Office, Office of the Director of National Intelligence, Washington, DC 20511. FOR FURTHER INFORMATION CONTACT: Mr. John F. Hackett, Director, Information Management Office, 703-482-3610. SUPPLEMENTARY INFORMATION: The National Counterintelligence Executive and the Office of the National Counterintelligence Executive (ONCIX) were established in statute by the Counterintelligence Enhancement Act of 2002 and codified as an element of the Office of the Director of National Intelligence
(ODNI)in the Intelligence Reform and Terrorism Prevention Act IRTPA) of 2004. The mission of the ONCIX is to serve as the head of national counterintelligence for the United States Government. The counterintelligence components of the United States Government are responsible for identifying, assessing, prioritizing, and countering the intelligence threats to the United States. The ONCIX is charged with fostering integration of these components to best address threats presented by the intelligence services of foreign states and similar organizations of non-state actors, such as transnational terrorist groups. The National Counterintelligence Executive serves as the principal advisor to the Director of National Intelligence
(DNI)on issues relating to the overall strategy and performance of the Intelligence Community relating to counterintelligence. Under the direction of the National Counterintelligence Executive, ONCIX develops an annual integrated national counterintelligence strategy, sets priorities for counterintelligence collection, investigations and operations, and ensures that budget and staffing recommendations conform to established programmatic priorities. The ONCIX produces annual foreign intelligence threat assessments and other analytic counterintelligence products, including in-depth espionage damage assessments. The DNI has designated the National Counterintelligence Executive as the Mission Manager for Counterintelligence. As Mission Manager, the National Counterintelligence Executive works through the National Counterintelligence Policy Board to meet the goals of the nation's strategic counterintelligence mission. Partner organizations on the Board include, but are not limited to: Central Intelligence Agency; Department of Defense/Joint Chiefs of Staff; Department of Energy; Department of Homeland Security; Department of Justice/ Federal Bureau of Investigation and Department of State. The system of records published herewith contains information about acts of espionage or other intelligence-related crimes. Accordingly, to protect classified and sensitive law enforcement information and to prevent the compromise of counterintelligence investigations and methods, the DNI is proposing to exempt this system of records from certain portions of the Privacy Act and to continue to exempt from certain portions of the Privacy Act those records for which the source agency claimed exemption. As required by the Privacy Act, a proposed rule is being published concurrently with this notice to seek public comment on the proposal to exempt this system. In accordance with 5 U.S.C. 552a(r), the ODNI has provided a report of this new system of records to the Office of Management and Budget and to Congress. Dated: December 13, 2007. John F. Hackett, Director, Information Management Office. SYSTEM NAME: Damage Assessment Records (ONCIX/ODNI-001). SECURITY CLASSIFICATION: The classification of records in this system can range from UNCLASSIFIED to CLASSIFIED. SYSTEM LOCATION: Office of the National Counterintelligence Executive (ONCIX), Office of the Director of National Intelligence (ODNI), Washington, DC 20505. CATEGORIES OF INDIVIDUALS COVERED BY THE SYSTEM: Individuals convicted of or indicted for espionage or other intelligence-related crimes; individuals whose identities and government affiliation are known or believed to have been compromised as a result of unauthorized disclosures; individuals interviewed in response to significant and particular unauthorized disclosures of classified information or individuals mentioned in such interviews, including colleagues of individuals convicted of or indicted for espionage or intelligence-related crimes or individuals with any knowledge of the facts surrounding the unauthorized disclosure; individuals who may have knowledge of facts surrounding significant and particular unauthorized disclosures of classified information. CATEGORIES OF RECORDS IN THE SYSTEM: Final damage assessments; records about unauthorized disclosures of classified material including law enforcement records (e.g., convictions, subpoenae, rap sheets) and records of investigations conducted by the FBI or other law enforcement elements; transcripts of ONCIX debriefings/interviews with individuals charged with or convicted of intelligence crimes, and with associates potentially knowledgeable of the disclosure or the resulting damage to national security; publicly available information about and psychological evaluations/profiles of the individuals charged/convicted of espionage or intelligence crimes; personal information and personally identifiable information (such as address, phone number, social security number (SSN), date of birth (DOB)) belonging to individuals charged or convicted or other individuals interviewed in connection with an investigation of the disclosure or assessment of the damage. AUTHORITY FOR MAINTENANCE OF THE SYSTEM: The Intelligence Reform and Terrorism Prevention Act of 2004, Pub. L. 108-458, 118 Stat. 3638 (Dec. 17, 2004); The Counterintelligence Enhancement Act of 2002, as amended, 50 U.S.C. 402b, 402c; The National Security Act of 1947, as amended, 50 U.S.C. 401-442; Exec. Order No. 12,333, 46 Fed. Reg. 59,941 (1981); Exec. Order No. 13,354, 69 Fed. Reg. 53,589 (2004). PURPOSE: The ONCIX Counterintelligence Damage Assessment Record System supports the ONCIX's statutory responsibility to evaluate the extent to which the national security or the nation's intelligence activities may have been compromised as a result of the record subject's unauthorized disclosure of classified material. ROUTINE USES OF RECORDS MAINTAINED IN THE SYSTEM, INCLUDING CATEGORIES OF USERS AND THE PURPOSES OF SUCH USES: Final Damage Assessments may be disclosed as set forth in the General Routine Uses Applicable to More Than One ODNI Privacy Act System of Records, Subpart C of the ODNI's Privacy Act Regulation published concurrently with this notice and incorporated by reference (see also *http://www.dni.gov* ). DISCLOSURE TO CONSUMER REPORTING AGENCIES: None. POLICIES AND PRACTICES FOR STORING, RETRIEVING, ACCESSING, RETAINING AND DISPOSING OF RECORDS IN THE SYSTEM: STORAGE: Electronic records are stored in secure file-servers located within secure facilities under the control of the ODNI. Paper and other hard copy records are stored in secured areas within the control of ONCIX. RETRIEVABILITY: The records in this system are retrieved by name, personal identifier, subject matter. SAFEGUARDS: Information in this system is safeguarded in accordance with recommended and/or prescribed administrative, physical, and technical safeguards. Records are maintained in a secure government facility with access to the facility limited to only authorized personnel or authorized and escorted visitors. Physical security protections include guards and locked facilities requiring badges and passwords for access. Records are accessed only by authorized government personnel and contractors holding an appropriate security clearance and who have a “need to know.” Software controls are in place to limit access, and other safeguards exist to monitor and audit access and to detect intrusions. Communications are encrypted where required. RETENTION AND DISPOSAL: Pursuant to 44 U.S.C. 3303a(d) and 36 CFR Chapter 12, Subchapter B, Part 1228-Disposition of Federal Records, records will not be disposed of until such time as the National Archives and Records Administration
(NARA)approves an applicable ODNI Records Control Schedule. SYSTEM MANAGER(S) AND ADDRESS: ONCIX Damage Assessment system Manager, c/o Director, Information Management Office, Office of the Director of National Intelligence, Washington DC 20511. NOTIFICATION PROCEDURES: As specified below, records in this system have been exempted from certain notification, access and amendment procedures. Individuals seeking to learn if this system contains information about them should address inquiries to the ONCIX at the address and according to the requirements set forth below under the heading “Record Access Procedures.” RECORD ACCESS PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. A request for access to non-exempt records shall be made in writing with the envelope and letter clearly marked “Privacy Act Request.” Requesters shall provide their full name and complete address. The requester must sign the request and have it verified by a notary public. Alternately, the request may be submitted under 28 U.S.C. 1746, certifying the requester's identity and acknowledging that obtaining a record under false pretenses constitutes a criminal offense. Requests for access to information must be addressed to the Director, Information Management Office, Office of the Director of National Intelligence, Washington, DC 20511. Regulations for obtaining access to records or for appealing an initial determination concerning access to records are contained in the ODNI Privacy Act regulation, published in this volume of the **Federal Register** . CONTESTING RECORD PROCEDURES: As specified below, records in this system have been exempted from certain notification, access and amendment procedures. Individuals seeking to correct or amend non-exempt records should address their requests to the ONCIX at the address and according to the requirements set forth above under the heading “Record Access Procedures.” Regulations regarding requests to amend, for disputing the contents of one's record or for appealing initial determinations concerning these matters are contained in the ODNI Privacy Act regulation, published in this volume of the **Federal Register** . RECORD SOURCE CATEGORIES: Records derived from human and record sources consulted in the course of investigating disclosure of classified information. EXEMPTIONS: Records contained within this System of Records may be exempted from the requirements of subsections (c)(3); (d)(1),(2),(3),(4); (e)(1) and (e)(4),(G),(H),(I); and
(f)of the Privacy Act pursuant to 5 U.S.C. 552a(k)(1) and (k)(2). Records may be exempted from these subsections or, additionally, from the requirements of subsections (c)(4); (e)(2),(3),(5),(8) and(12); and
(g)of the Privacy Act consistent with any exemptions claimed under 5 U.S.C. 552a(j) or
(k)by the originator of the record, provided the reason for protecting the record from disclosure remains valid and necessary. [FR Doc. E7-25272 Filed 12-27-07; 8:45 am] BILLING CODE 3910-A7-P OFFICE OF THE DIRECTOR OF NATIONAL INTELLIGENCE Office of the Inspector General Privacy Act of 1974; System of Records AGENCY: Office of the Inspector General, Office of the Director of National Intelligence. ACTION: Notice to establish systems of records. SUMMARY: The Office of the Inspector General
(OIG)of the Office of the Director of National Intelligence
(ODNI)is establishing several new systems of records subject to the Privacy Act of 1974, as amended, 5 U.S.C. 552a. These systems of records are maintained by the OIG. DATES: This action will be effective on February 6, 2008, unless comments are received that result in a contrary determination. ADDRESSES: You may submit comments, identified by [RIN number], by any of the following methods: *Federal eRulemaking Portal: http://www.regulations.gov.* *Mail:* Director, Information Management Office, Office of the Director of National Intelligence, Washington, D.C. 20511. FOR FURTHER INFORMATION CONTACT: Mr. John F. Hackett, Director, Information Management Office, 703-482-3610. SUPPLEMENTARY INFORMATION: The Intelligence Reform and Terrorism Prevention Act of 2004 (IRTPA), section 1078, amended the Inspector General Act of 1978 to grant the Director of National Intelligence
(DNI)the authority to establish an Office of the Inspector General
(OIG)with “any of the powers and responsibilities” set forth in the Inspector General Act of 1978. On September 7, 2005, by ODNI Instruction 2005-10, the DNI established the OIG to detect and deter waste, fraud, abuse, and misconduct involving the ODNI and Intelligence Community programs and personnel, and to promote economy, efficiency and effectiveness in the ODNI and Intelligence Community operations. The OIG has responsibility for programs and operations internal to the ODNI, as well as responsibilities over community-wide and cross-agency matters that are within the DNI's authorities. The ODNI OIG has a threefold mission:
(i)To perform, on behalf of the DNI, audits, investigations, and inspections of the ODNI and component elements;
(ii)to support the DNI's responsibilities under the IRTPA to improve, reform and integrate the activities of the U.S. Intelligence Community as a whole, with particular emphasis on the sharing and dissemination of intelligence information, quality of analysis, joint duty, and effective execution of the budget; and
(iii)to identify, develop and lead collaborative projects involving the Inspectors General of the 16 Intelligence Community agencies. Where the systems of records published herewith contain sensitive personnel information or law enforcement or classified information, the DNI is proposing to exempt the systems of records from certain portions of the Privacy Act and to continue in effect exemptions claimed by record source agencies where the reason for the exemption remains valid. As required by the Privacy Act, a proposed rule is being published concurrently with this notice to seek public comment on the proposal to exempt these systems. In accordance with 5 U.S.C. 552a(r), the ODNI has provided a report of this new system of records to the Office of Management and Budget and to Congress. Dated: December 13, 2007. John F. Hackett, Director, Information Management Office. SYSTEM NAME: Office of the Inspector General
(OIG)Human Resources Records (ODNI/OIG-001). SECURITY CLASSIFICATION: The classification of records in this system can range from UNCLASSIFIED to TOP SECRET. SYSTEM LOCATION: Office of the Inspector General (OIG), Office of the Director of National Intelligence (ODNI), Washington, DC 20511. CATEGORIES OF INDIVIDUALS COVERED BY THE SYSTEM: Current and former OIG staff; military and civilian personnel detailed or assigned to the OIG; and current and former OIG contract employees. CATEGORIES OF RECORDS IN THE SYSTEM: Biographic data including name, social security number, residence, emergency contacts, employing organization, employee identification, photographs, training records, skills information, travel records, financial claims information, leave requests and approvals, conduct records, performance records and awards, suitability-related records, medical information, grievance records, other records arising from routine administrative activities. AUTHORITY FOR MAINTENANCE OF THE SYSTEM: The Intelligence Reform and Terrorism Prevention Act of 2004, Pub. L. No. 108-458, 118 Stat. 3638 (Dec. 17, 2004); The National Security Act of 1947, as amended, 50 U.S.C. 401-442; Exec. Order No. 13,354, 69 Fed. Reg. 53,589 (2004); Exec. Order No.12,333, 46 Fed. Reg. 59,941 (1981); The Inspector General Act of 1978, as amended, 5 U.S.C. App. 1; ODNI Instruction 2005-10. PURPOSE(S): Records in this system enable the OIG to carry out its lawful and authorized responsibilities to administer its workforce; facilitate and expedite processing of employee transactions, including benefits elections and administrative actions; provide management with necessary data for statistical reports; and provide reference to monitor, record, and manage personnel with respect to performance, assignments, training, conduct, time and attendance, administrative claims, and other matters. ROUTINE USES OF RECORDS MAINTAINED IN THE SYSTEM, INCLUDING CATEGORIES OF USERS AND THE PURPOSES OF SUCH USES: See General Routine Uses Applicable to More Than One ODNI Privacy Act System of Records, Subpart C of ODNI's Privacy Act Regulation published concurrently with this notice and incorporated by reference (see also: *http://www.dni.gov* ). In addition, the following routine use(s) may apply: a. A record from this system of records maintained by the OIG may be disclosed as a routine use to appropriate personnel within the Office of Personnel Management who have a need to know for purposes relating to the administration of retirement benefits for individuals covered by this system. DISCLOSURE TO CONSUMER REPORTING AGENCIES: None. POLICIES AND PRACTICES FOR STORING, RETRIEVING, ACCESSING, RETAINING, AND DISPOSING OF RECORDS IN THE SYSTEM: STORAGE: Electronic records are stored in secure file-servers located within secure facilities under the control of the Central Intelligence Agency. Paper and other hard-copy records are stored in secured areas within the control of the OIG. RETRIEVABILITY: By name, social security number, or other identifier. Information may be retrieved from this System of Records by automated or hand searches based on existing indices and automated capabilities utilized in the normal course of business. Only authorized personnel may search this system. SAFEGUARDS: Information in this system is safeguarded in accordance with recommended and/or prescribed administrative, physical, and technical safeguards. Records are stored in a secure government or contractor facility with access to the facility limited to authorized personnel only and authorized and escorted visitors. Physical security protections include guards and locked facilities requiring badges and passwords for access. Paper files are maintained in a locked drawer. Electronic files are maintained in secure, limited-access file-servers. Records are accessed only by authorized government personnel and contractors holding appropriate security clearances and who have a valid business reason to access the records. Communications are encrypted where required and other safeguards are in place to monitor and audit access and to detect intrusions. Backup tapes are maintained in a secure, off-site location. RETENTION AND DISPOSAL: Pursuant to 44 U.S.C. 3303a(d) and 36 CFR Chapter 12, Subchapter B, Part 1228—Disposition of Federal Records, records will not be disposed until such time as the National Archives and Records Administration
(NARA)approves an applicable ODNI Records Control Schedule. SYSTEM MANAGER(S) AND ADDRESS: Executive Officer, Office of the Inspector General, Office of the Director of National Intelligence, Washington, DC 20511. NOTIFICATION PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. Individuals seeking to learn whether this system contains information about them (“notification”) should address inquiries to the ODNI at the address and according to the requirements set forth below under the heading “Record Access Procedures.” RECORD ACCESS PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. A request for access to non-exempt records shall be made in writing with the envelope and letter clearly marked “Privacy Act Request.” Each request must provide the requester's full name and complete address. The requester must sign the request, and have it verified by a notary public. Alternately, the request may be submitted under 28 U.S.C. 1746, certifying the requester's identity and acknowledging that obtaining records under false pretenses constitutes a criminal offense. Requests for access to information must be addressed to the Director, Information Management Office, Office of the Director of National Intelligence, Washington, DC 20511. Regulations governing access to one's records or for appealing an initial determination concerning access to records are contained in the ODNI regulation implementing the Privacy Act published concurrently with this notice. CONTESTING RECORD PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. Individuals seeking to correct or amend non-exempt records should address their requests to the ODNI at the address and according to the requirements set forth above under the heading “Record Access Procedures.” Regulations governing access to and amendment of one's records or for appealing an initial determination concerning access or amendment of records are contained in the ODNI regulation implementing the Privacy Act published concurrently with this notice. RECORD SOURCE CATEGORIES: Human resources data originates from individuals covered by the system, educational institutions, private organizations, federal agencies and other ODNI staff. Exemptions Claimed For The System: Records contained within this System of Records may be exempted from the requirements of subsections (c)(3); (d)(1),(2),(3),(4); (e)(1) and (e)(4)(G),(H),(I); and
(f)of the Privacy Act, pursuant to 5 U.S.C. 552a (k)(1) and (k)(5). Records may be exempted from these subsections or, additionally, from the requirements of subsections (c)(4);(e)(2),(3),(5),(8),(12) and
(g)of the Privacy Act consistent with any exemptions claimed under 5 U.S.C. 552a(j) or
(k)by the originator of the record, provided the reason for the exemption remains valid and necessary. SYSTEM NAME: Office of the Inspector General
(OIG)Experts Contact Records (ODNI/OIG-002). SECURITY CLASSIFICATION: The classification of records in this system can range from UNCLASSIFIED to TOP SECRET. SYSTEM LOCATION: Office of the Inspector General (OIG), Office of the Director of National Intelligence (ODNI), Washington, DC 20511. CATEGORIES OF INDIVIDUALS COVERED BY THE SYSTEM: Governmental and private sector experts, academics, business professionals and other individuals who have served as advisers, consultants or contractors to the ODNI or who are known to have expertise in, or access to information about subjects of interest to the ODNI or other elements of the Intelligence Community (IC), as defined by 401a(4) of the National Security Act, as amended. CATEGORIES OF RECORDS IN THE SYSTEM: Biographic information, including contact information and areas of expertise or interest, professional credentials, history of involvement with IC activities, clearances, accesses. AUTHORITY FOR MAINTENANCE OF THE SYSTEM: The Intelligence Reform and Terrorism Prevention Act of 2004, Pub. L. 108-458, 118 Stat. 3638 (Dec. 17, 2004); The National Security Act of 1947, as amended, 50 U.S.C. 401-442; Exec.Order No. 13,354, 69 Fed. Reg. 53,589 (2004); Exec. Order No. 12,333, 46 Fed. Reg. 59,941 (1981), The Inspector General Act of 1978, as amended, 5 U.S.C. App.1; ODNI Instruction 2005-10. PURPOSE(S): Records in this system facilitate communication by authorized ODNI OIG personnel with governmental, academic or private sector experts who may serve as advisers, consultants or contractors to the ODNI OIG, assisting it to carry out authorized responsibilities overseeing ODNI functions, supporting ODNI's responsibilities with respect to activities of the IC as a whole, and leading collaborative projects involving the IC Inspectors General. ROUTINE USES OF RECORDS MAINTAINED IN THE SYSTEM, INCLUDING CATEGORIES OF USERS AND THE PURPOSES OF SUCH USES: See General Routine Uses Applicable to More Than One ODNI Privacy Act System of Records, Subpart C of ODNI's Privacy Act Regulation published concurrently with this notice and incorporated by reference (see also *http://www.dni.gov* ). DISCLOSURE TO CONSUMER REPORTING AGENCIES: None. POLICIES AND PRACTICES FOR STORING, RETRIEVING, ACCESSING, RETAINING, AND DISPOSING OF RECORDS IN THE SYSTEM: STORAGE: Electronic records are stored in secure file-servers located within secure facilities under the control of the Central Intelligence Agency. Paper and other hard-copy records are stored in secured areas within the control of the OIG. RETRIEVABILITY: By name, social security number, or other identifier. Information may be retrieved from this System of Records by automated or hand searches based on existing indices and automated capabilities utilized in the normal course of business. Only authorized personnel with a need to know may search this system. SAFEGUARDS: Information in this system is safeguarded in accordance with recommended and/or prescribed administrative, physical, and technical safeguards. Records are stored in a secure government or contractor facility with access to the facility limited to authorized personnel only and authorized and escorted visitors. Physical security protections include guards and locked facilities requiring badges and passwords for access. Records are accessed only by authorized government personnel and contractors holding appropriate security clearances and who have a valid business reason to access the records. Communications are encrypted where required and other safeguards are in place to monitor and audit access and to detect intrusions. Backup tapes are maintained in a secure, off-site location. RETENTION AND DISPOSAL: Pursuant to 44 U.S.C. 3303a(d) and 36 CFR Chapter 12, Subchapter B, Part 1228-Disposition of Federal Records, records will not be disposed of until such time as the National Archives and Records Administration
(NARA)approves an applicable ODNI Records Control Schedule. SYSTEM MANAGER(S) AND ADDRESS: Executive Officer, Office of the Inspector General, Office of the Director of National Intelligence, Washington, DC 20511. NOTIFICATION PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. Individuals seeking to learn whether this system contains information about them (“notification”) should address inquiries to the ODNI at the address and according to the requirements set forth below under the heading “Record Access Procedures.” RECORD ACCESS PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. A request for access to non-exempt records shall be made in writing with the envelope and letter clearly marked “Privacy Act Request.” Each request must provide the requester's full name and complete address. The requester must sign the request, and have it verified by a notary public. Alternately, the request may be submitted under 28 U.S.C. 1746, certifying the requester's identity and acknowledging that obtaining records under false pretenses constitutes a criminal offense. Requests for access to information must be addressed to the Director, Information Management Office, Office of the Director of National Intelligence, Washington, DC 20511. Regulations governing access to one's records or for appealing an initial determination concerning access to records are contained in the ODNI regulation implementing the Privacy Act published concurrently with this notice. CONTESTING RECORD PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. Individuals seeking to correct or amend non-exempt records should address their requests to the ODNI at the address and according to the requirements set forth above under the heading “Record Access Procedures.” Regulations governing access to and amendment of one's records or for appealing an initial determination concerning access or amendment of records are contained in the ODNI regulation implementing the Privacy Act published concurrently with this notice. RECORD SOURCE CATEGORIES: Information is obtained directly from subject individuals; from U.S. government personnel; and from the media, libraries, commercial databases and other public sources. EXEMPTIONS CLAIMED FOR THE SYSTEM: Records contained within this System of Records may be exempted from the requirements of subsections (c)(3); (d)(1),(2),(3),(4); (e)(1) and (e)(4)(G),(H),(I); and
(f)of the Privacy Act, pursuant to 5 U.S.C. 552a (k)(1) and (k)(5). Records may be exempted from these subsections or, additionally, from the requirements of subsections (c)(4);(e)(2),(3),(5),(8),(12) and
(g)of the Privacy Act consistent with any exemptions claimed under 5 U.S.C. 552a(j) or
(k)by the originator of the record, provided the reason for the exemption remains valid and necessary. SYSTEM NAME: Office of Inspector General
(OIG)Investigation and Interview Records (ODNI/OIG-003). SECURITY CLASSIFICATION: The classification of records in this system can range from UNCLASSIFIED to TOP SECRET. SYSTEM LOCATION: Office of the Inspector General (OIG), Office of the Director of National Intelligence (ODNI), Washington, DC 20511. CATEGORIES OF INDIVIDUALS COVERED BY THE SYSTEM: Persons who are interviewed by or provide information to the OIG; persons who are the subjects of OIG reviews, inquiries, or investigations; persons involved with matters under investigation by the OIG, and persons who have filed grievances with the OIG or with other elements of the Intelligence Community (IC), as defined by 401a(4) of the National Security Act of 1947, as amended. CATEGORIES OF RECORDS IN THE SYSTEM: Reports of interviews, signed statements, correspondence, reports of investigations, forms, cables, internal memoranda of the ODNI and other IC elements, criminal records of individuals covered by the system, and materials relating to employee grievances and other matters of interest to or inspected by the OIG. AUTHORITY FOR MAINTENANCE OF THE SYSTEM: The Intelligence Reform and Terrorism Prevention Act of 2004, Pub. L. 108-458, 118 Stat. 3638 (Dec. 17, 2004); The National Security Act of 1947, as amended, 50 U.S.C. 401-442; Exec. Order No. 13,354, 69 Fed. Reg. 53,589 (2004); Exec. Order No. 12,333, 46 Fed. Reg. 59,941 (1981); The Inspector General Act of 1978, as amended, 5 U.S.C. App. 1; ODNI Instruction 2005-10. PURPOSE(S): Records in this system detail the OIG's conduct of personnel grievance and misconduct-related investigations. ROUTINE USES OF RECORDS MAINTAINED IN THE SYSTEM, INCLUDING CATEGORIES OF USERS AND THE PURPOSE OF SUCH USES: See General Routine Uses Applicable to More Than One ODNI Privacy Act System of Records, Subpart C of ODNI's Privacy Act Regulation published concurrently with this notice and incorporated by reference (see also *http://www.dni.gov* ). In addition, the following routine uses may apply: a. A record from this system of records maintained by the OIG may be disclosed as a routine use to officials within the IC where the investigation of a grievance, allegation of misconduct or other personnel issue is a matter within their administrative or supervisory responsibility and there is a need to know, or where the data is necessary to conduct management responsibilities including evaluation of current and proposed programs, policies and activities, selected assignments, and requests for awards or promotions. b. Unclassified records in the system, or unclassified portions thereof, including information identifying individuals covered by the system, may be disclosed as a routine use to the public or to the media for release to the public when the matter under investigation has become public knowledge or the Inspector General determines that such disclosure is necessary to preserve confidence in the integrity of the Inspector General process, or is necessary to publicly demonstrate the accountability of Intelligence Community employees, officers, or individuals covered by the system, unless it is determined that release of the specific information in the context of a particular case would constitute an unwarranted invasion of personal privacy. c. Records in the system may be disclosed to members of the President's Council on Integrity and Efficiency or the Executive Council on Integrity and Efficiency for peer reviews and the preparation of reports to the President and Congress on the activities of the Inspectors General. DISCLOSURE TO CONSUMER REPORTING AGENCIES: None. POLICIES AND PRACTICES FOR STORING, RETRIEVING, ACCESSING, RETAINING, AND DISPOSING OF RECORDS IN THE SYSTEM: STORAGE: Electronic records are stored in secure file-servers located within secure facilities under the control of the Central Intelligence Agency. Paper records and other hard-copy records are stored in secured areas within the control of the OIG and maintained in separate folders in a locked filing cabinet dedicated exclusively to OIG investigative files. RETRIEVABILITY: By name, social security number, or other identifier. Information may be retrieved from this system of records by automated or hand searches based on existing indices, and by automated means utilized in the normal course of business. Only authorized personnel with a need to know may search this system. SAFEGUARDS: Information in this system is safeguarded in accordance with recommended and/or prescribed administrative, physical, and technical safeguards. Records are stored in a secure government or contractor facility with access to the facility limited to authorized personnel only and authorized and escorted visitors. Physical security protections include guards and locked facilities requiring badges and passwords for access. Paper files are maintained in a locked file cabinet. Electronic files are maintained in secure, limited-access file-servers. Records are accessed only by authorized government personnel and contractors holding appropriate security clearances and who have a valid investigative or business reason to access the records. Communications are encrypted where required and other safeguards are in place to monitor and audit access and to detect intrusions. Backup tapes are maintained in a secure, off-site location. RETENTION AND DISPOSAL: Pursuant to 44 U.S.C. 3303a(d) and 36 CFR Chapter 12, Subchapter B, Part 1228-Disposition of Federal Records, records will not be disposed of until such time as the National Archives and Records Administration
(NARA)approves an applicable ODNI Records Control Schedule. SYSTEM MANAGER(S) AND ADDRESS: Executive Officer, Office of the Inspector General, Office of the Director of National Intelligence, Washington, DC 20511. NOTIFICATION PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. Individuals seeking to learn whether this system contains information about them (“notification”) should address inquiries to the ODNI at the address and according to the requirements set forth below under the heading “Record Access Procedures.” RECORD ACCESS PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. A request for access to non-exempt records shall be made in writing with the envelope and letter clearly marked “Privacy Act Request.” Each request must provide the requester's full name and complete address. The requester must sign the request, and have it verified by a notary public. Alternately, the request may be submitted under 28 U.S.C. 1746, certifying the requester's identity and acknowledging that obtaining records under false pretenses constitutes a criminal offense. Requests for access to information must be addressed to the Director, Information Management Office, Office of the Director of National Intelligence, Washington, DC 20511. Regulations governing access to one's records or for appealing an initial determination concerning access to records are contained in the ODNI regulation implementing the Privacy Act published concurrently with this notice. CONTESTING RECORD PROCEDURES: As specified below, records in this system have been exempted from certain notification, access, and amendment procedures. Individuals seeking to correct or amend non-exempt records should address their requests to the ODNI at the address and according to the requirements set forth above under the heading “Record Access Procedures.” Regulations governing access to and amendment of one's records or for appealing an initial determination concerning access or amendment of records are contained in the ODNI regulation implementing the Privacy Act published concurrently with this notice. RECORD SOURCE CATEGORIES: Information is obtained from federal, state, local and foreign government entities, as well as from individuals, including U.S. citizens and foreign nationals, pursuant to the authorized activities of investigatory staff of the ODNI, of other IC elements and of federal contractors performing investigatory functions. EXEMPTIONS CLAIMED FOR THE SYSTEM: Records in this System of Records pertaining to the enforcement of criminal laws may be exempted from the requirements of subsections (c)(3) and (4); (d)(1),(2),(3),(4); (e)(1),(2),(3),(5),(8); and
(g)of the Privacy Act pursuant to 5 U.S.C. 552a(j)(2) as claimed by ODNI or by the originator of the record. Records constituting classified or non-criminal investigatory records may be exempted from the requirements of subsections (c)(3); (d)(1),(2),(3),(4); (e)(1) and (e)(4)(G),(H),(I); and
(f)of the Privacy Act pursuant to 5 U.S.C. 552a(k)(1) and (k)(2) as claimed by ODNI or by the originator of the records, provided the reason for the exemption remains valid and necessary. [FR Doc. E7-25273 Filed 12-27-07; 8:45 am] BILLING CODE 3910-A7-P-P OFFICE OF THE UNITED STATES TRADE REPRESENTATIVE Procurement Thresholds for Implementation of the Trade Agreements Act of 1979; Correction AGENCY: Office of the United States Trade Representative. ACTION: Correction of certain procurement thresholds under the World Trade Organization Agreement on Government Procurement, the United States-Australia Free Trade Agreement, the United States-Bahrain Free Trade Agreement, the United States-Chile Free Trade Agreement, the Dominican Republic-Central American-United States Free Trade Agreement, the United States-Morocco Free Trade Agreement, and the United States-Singapore Free Trade Agreement. FOR FURTHER INFORMATION CONTACT: Jean Heilman Grier, Senior Procurement Negotiator, Office of the United States Trade Representative,
(202)395-9476 or *Jean_Grier@ustr.eop.gov* . SUMMARY: On December 14, 2007, the Office of the United States Trade Representative
(USTR)published notice of the Procurement Thresholds for Implementation of the Trade Agreements Act of 1979 (72 FR 71166). That Notice included three incorrect procurement threshold values due to inadvertent calculation errors. This notice provides the corrected thresholds. Now, therefore, I, Susan C. Schwab, United States Trade Representative, in conformity with the provisions of Executive Order 12260, and in order to carry out the trade agreement obligations of the United States under the World Trade Organization Agreement on Government Procurement (WTO/GPA), Chapter 15 of the United States-Australia Free Trade Agreement (U.S.-Australia FTA), Chapter 9 of the United States-Bahrain Free Trade Agreement (U.S.-Bahrain FTA), Chapter 9 of the United States-Chile Free Trade Agreement (U.S.-Chile FTA), Chapter 9 of the Dominican Republic-Central American-United States (DR-CAFTA), Chapter 9 of the United States-Morocco Free Trade Agreement (U.S.-Morocco FTA), and Chapter 13 of the United States-Singapore Free Trade Agreement (U.S.-Singapore FTA), do hereby determine, effective on January 1, 2008, for the calendar years 2008-2009, the following thresholds shall apply and replace those set out in the Determination published on December 14, 2007 (72 FR 71166): *$7,443,000* —for the procurement of construction services by all entities listed in the WTO/GPA, U.S.-Australia FTA, U.S.-Chile FTA, DR-CAFTA, U.S.-Morocco FTA, and the U.S.-Singapore FTA. *$528,000* —for the procurement of goods and services by sub-central entities listed in the WTO/GPA, U.S.-Australia FTA, U.S.-Chile FTA, DR-CAFTA, U.S.-Morocco FTA, and the U.S.-Singapore FTA. *$595,000* —for the procurement of goods and services by entities listed in U.S. Annex 3 of the WTO/GPA; List B in Annex 15-A of the U.S.-Australia FTA; List B in Annex 9-A, Section 3 of the U.S.-Bahrain FTA; List B in Annex 9.1, Section C of the U.S.-Chile FTA; List B in Annex 9.1, Section C of the DR-CAFTA; List B in Annex 9.1, Section C of the U.S.-Morocco FTA; and Annex 13A, Section C of the U.S.-Singapore FTA. Susan C. Schwab, United States Trade Representative. [FR Doc. E7-25330 Filed 12-27-07; 8:45 am] BILLING CODE 3190-W8-P OFFICE OF MANAGEMENT AND BUDGET Office of Federal Procurement Policy; Acquisition of Green Products and Services AGENCY: Office of Federal Procurement Policy (OFPP), OMB. ACTION: Proposed policy letter on the acquisition of green products and services. SUMMARY: OFPP is proposing to issue a policy letter on green procurement policies and strategies. The policy letter would address:
(1)General responsibilities of agencies for the procurement of green products and services;
(2)the relationship of green products and services to other socio-economic programs;
(3)automatic substitution policies;
(4)listing of green products in Federal catalogues and online ordering systems;
(5)green requirements for paper and printing;
(6)application of green requirements in service contracting; and
(7)energy efficiency. The proposed policy letter would implement specific provisions of Executive Order (E.O.) 13423, *Strengthening Federal Environmental, Energy, and Transportation Management,* Section 6002 of the Resource Conservation and Recovery Act (42 U.S.C. 6962), the Energy Policy Act of 1992 (42 U.S.C. 6903), the Energy Policy Act of 2005 (42 U.S.C. 6361), and Section 9002 of the Farm Security and Rural Investment Act of 2002 (7 U.S.C. 8102). The proposed policy letter, when finalized, would supersede OFPP Policy Letter 92-4, *Procurement of Environmentally-Sound and Energy-Efficient Products and Services,* dated November 2, 1992. *Comment Date:* Comments must be received in writing on or before February 26, 2008 to be considered in the formulation of the final policy letter. ADDRESSES: Submit comments by any of the following methods: • *E-mail: OFPPGreen@omb.eop.gov.* • *Facsimile:*
(202)395-5105. • *Mail:* Office of Federal Procurement Policy, Office of Management and Budget, Room 9013, 725 17th Street, NW., Washington, DC 20503. *Instructions:* Please submit comments only and cite “Proposed OFPP Policy Letter” in all correspondence. All comments will be posted without change to *http://www.whitehouse.gov/omb/procurement/green/green_comments.html* , including any personal and/or business confidential information provided. FOR FURTHER INFORMATION CONTACT: Mr. Jim Daumit, Policy Analyst, at
(202)395-1052, for clarification of content. SUPPLEMENTARY INFORMATION: The proposed policy letter provides guidance on green purchasing policies and strategies. It requires agencies to identify opportunities and give preference to the acquisition of green products and services, including but not limited to:
(1)Alternative fuels and alternative fuel vehicles and hybrids;
(2)biobased products;
(3)Energy Star® and Federal Energy Management Program (FEMP)-designated products;
(4)environmentally-preferable products and services;
(5)electronics registered on the Electronic Product Environmental Assessment Tool;
(6)low or no toxic or hazardous chemicals or materials or products;
(7)non-ozone depleting substances;
(8)recycled-content and/or remanufactured products;
(9)renewable energy; and
(10)water-efficient products. In addition, the proposed policy letter: • Requires agencies to first consider mandatory and preferred sources to obtain green products and services that meet their performance needs, and where these sources are unable to meet their needs, to purchase green products and services from other sources. • Requires agencies to implement automatic substitution policies for the purchase of functionally equivalent green products and services in place of non-green products and services ordered through central supply agencies. • Requires GSA, DLA, and other central supply agencies to supply designated green products and phase out any competing non-green products from their catalogs and on-line ordering systems. Agencies are encouraged in their comments to identify anticipated needs for non-green products listed in Federal catalogs and on-line ordering systems that may extend beyond January 1, 2010 where green products are currently available. • Requires agencies to include requirements and preferences for the use of green products in all new service contracts and other existing service contracts as they are recompeted and encourages agencies to incorporate these requirements and preferences into existing contracts as they are modified or extended through options. • Discusses agencies' responsibilities for accurate, complete, and timely reporting. Reference information on green acquisition polices and green purchasing programs may be found on OFPP's homepage at *http://www.whitehouse.gov/omb/procurement/index_green.html* . Paul A. Denett, Administrator. Policy Letter No. 07-XX To The Heads of Executive Departments And Establishments *Subject:* Acquisition of Green Products and Services. 1. *Purpose.* This policy letter provides Executive branch policies for the acquisition, use and disposition of green products and services, including but not limited to: recycled content products; water-efficient, energy-efficient, Energy Star® and those products with the lowest watt stand-by power; biobased products; environmentally preferable products; alternative fuels; hybrid and alternative fuel vehicles; non-ozone depleting substances; renewable energy; and all services that may include the supply or use of any of these products. Agency acquisition policies and programs shall enhance and, where appropriate, mandate the purchase and use of green products and services covered in this policy letter. 2. *Authority.* This policy letter is issued pursuant to section 6(a) of the Office of Federal Procurement Policy Act, 41 U.S.C. 405(a), Section 6002 of the Resource Conservation and Recovery Act of 1976 (RCRA), 42 U.S.C. 6962, the Energy Policy Act of 1992, 42 U.S.C. 6903(19), the Energy Policy Act of 2005, 42 U.S.C. 6361, Section 9002 of the Farm Security and Rural Investment Act of 2002 (FSRIA), 7 U.S.C. 8102, and Executive Order (E.O.) 13423, Strengthening Federal Environmental, Energy, and Transportation Management. 3. *Applicability.* This Letter applies to all executive agencies. 4. *Rescission.* This policy letter rescinds Office of Federal Procurement Policy
(OFPP)Policy Letter 92-4, Procurement of Environmentally-Sound and Energy-Efficient Products and Services, dated November 2, 1992. 5. *Definitions.* *Alternative fuel* is defined by Section 301 of the Energy Policy Act of 1992, as implemented by the Secretary of Energy through rulemaking, at 10 CFR Part 490.2. *Biobased product* means a product determined by the Secretary of Agriculture to be a commercial or industrial product (other than food or feed) that is composed, in whole or in part, of biological products or renewable domestic agricultural materials (including plant, animal, and marine materials) or forestry materials. *Energy efficient or FEMP-designated product* means a product designated by the Federal Energy Management Program, Department of Energy as being among the highest 25 percent of equivalent products for energy efficiency. *Energy Star® product* means a product that is rated for energy efficiency under an Energy Star® program established by Section 324A of the Energy Policy and Conservation Act. *Environmentally preferable* means products and services that have a lesser or reduced effect on human health and the environment when compared with competing products or services that serve the same purpose. This comparison may consider raw materials acquisition, product, manufacturing, packaging, distribution, reuse, operation, maintenance, or disposal of the product or service. *Electronic Product Environmental Assessment Tool (EPEAT)* is an environmental procurement tool designed to help institutional purchasers in the public and private sectors evaluate, compare and select electronic products based on their environmental attributes. The first EPEAT standard applies to computer desktops, laptops and monitors. *EPEAT-registered products* are those products which meet the Institute of Electronic and Electrical Engineers
(IEEE)1680 Standard for the Environmental Assessment of Personal Computer Products, and products registered under similar standards developed after the date of this policy letter, and are listed on the EPEAT Product Registry located at *www.epeat.net* . *Executive agency* means an Executive department, a military department, or any independent establishment within the meaning of 5 U.S.C. 101, 102, and 104(1), respectively, and any wholly owned Government corporation within the meaning of 31 U.S.C. 9101. *Life-cycle cost effective* means the life-cycle costs of a product, project, or measure are estimated to be equal to or less than the base case (i.e., current or standard practice or product). Additional guidance on measuring cost-effectiveness is specified in 10 CFR Parts 436.18(a), (b), and (c), 436.20, and 436.21. *Ozone-depleting substances* means any substance designated as a Class I or Class II substance by the Environmental Protection Agency
(EPA)in 40 CFR Part 82. *Postconsumer content* means a material or product that has served its intended use and has been diverted or recovered from waste destined for disposal, having completed its life as a consumer item. *Recovered material* means waste material and by-products which have been recovered or diverted from solid waste, but such term does not include those materials and by-products generated from, and commonly reused within, an original manufacturing process. *Recycled content products* means products containing recovered materials designated for federal preferred procurement by the EPA under Section 6002 of RCRA. The products are also known as EPA-designated items. *Renewable energy* means energy produced by solar, wind, biomass, landfill gas, hydrokinetic, ocean (including tidal, wave, current and thermal), geothermal, municipal solid waste, or new hydroelectric generation capacity achieved from increased efficiency or additions of new capacity at an existing hydroelectric project. *Sustainable* means to create and maintain conditions, under which humans and nature can exist in productive harmony, that permit fulfilling the social, economic, and other requirements of present and future generations of Americans. *Water efficient product or service* means a product or service that uses less water than competing products or services that serve the same purpose, including those meeting EPA's WaterSense standards. 6. *Background.* E.O. 13423, *Strengthening Federal Environmental, Energy, and Transportation Management,* issued on January 26, 2007 (72 FR 3919), directs federal agencies to conduct their environmental, transportation, and energy-related activities in support of their respective missions in an environmentally, economically and fiscally sound, integrated, continuously improving, efficient, and sustainable manner. In agency acquisitions of goods and services, the Executive Order requires:
(i)use of sustainable environmental practices, including acquisition of biobased, environmentally preferable, energy-efficient, water-efficient, and recycled-content products, and
(ii)use of paper of at least 30 percent postconsumer fiber content. Other goals of E.O. 13423 address improving energy efficiency, consuming renewable energy, reducing water consumption, increasing diversion of solid waste, ensuring sustainable/green construction of buildings, reducing petroleum use, and ensuring acquisition and use of EPEAT-registered electronic products. E.O. 13423 further requires that agency programs to reduce and better manage the use of toxic and hazardous chemicals include reducing the acquisition of such chemicals. Acquiring green products and services is a key element of successfully implementing E.O. 13423, an effective environmental management system (EMS), and a sustainability program. This policy letter provides guidance to agencies for implementing the green acquisition requirements of E.O. 13423, including its implementation within an EMS framework. E.O. 13423 also provides guidance to agencies that do not have an EMS or have not yet incorporated goals toward sustainability but are still required to implement an affirmative procurement program for green products and services as part of their overall acquisition strategy. 7. *Policy.* It is the policy of the federal government to develop and implement green purchasing policies and affirmative procurement programs in order to conserve resources and be good stewards of the environment and reduce our negative impact on the environment. The purchase of green products applies to all acquisition and contracting mechanisms used by federal agencies, including service contracts, purchases made with government purchase and fleet cards and purchases below the micropurchase threshold. 8. *Responsibilities.* A. *General requirements.* In implementing this policy, Executive agencies shall:
(1)Identify opportunities for and give preference to the acquisition of green products and services including but not limited to:
(a)Alternative fuels and Alternative fuel vehicles
(AFVs)and hybrids as required by Section 303 of the Energy Policy Act of 1992 and amended by the Energy Policy Act of 2005 and E.O. 13423;
(b)biobased products designated by the Department of Agriculture
(USDA)under section 9002 of the Farm Security and Rural Investment Act of 2002 (FSRIA);
(c)Energy Star®, FEMP-designated, and those electronic products with the lowest available stand-by power as required by section 104 of the Energy Policy Act of 2005 and E.O. 13423;
(d)Environmentally-preferable products and services in accordance with E.O. 13423;
(e)EPEAT-registered electronics in accordance with E.O. 13423;
(f)Low or no toxic or hazardous chemicals or materials or products containing lesser or no toxic or hazardous constituents;
(g)Non-ozone depleting substances under the Clean Air Act as contained in EPA's Significant New Alternatives Program (SNAP);
(h)Recycled content and/or remanufactured products designated by EPA under section 6002 of RCRA;
(i)Renewable energy as required by section 203 of the Energy Policy Act of 2005, E.O. 13423; and
(j)Water efficient products, including those meeting EPA's “WaterSense” standards.
(2)Ensure representation of environmental and energy experts, managers, or technical personnel on integrated procurement teams for all major acquisitions and consider each of the following factors:
(a)Sustainable design practices;
(b)Life cycle cost analysis;
(c)Product or packaging take back (return to manufacturer for recycling or remanufacturing purposes); and
(d)Maximization of energy and resource recovery in solid waste management.
(3)Incorporate green purchasing requirements within agency, organizational, and facility environmental management systems. Guidance can be found in *Incorporating Environmentally Preferable Purchasing into Environmental Management Systems,* available at *http://www.epa.gov/epp/pubs/grn-pur/green-pur-ems.htm* .
(4)Develop and implement a formal, comprehensive, written affirmative procurement program (APP), also referred to as a green purchasing plan, for all products and services covered by this policy letter.
(a)Minimally, an APP must: • State a preference for the acquisition of the green products and services identified above; • Delineate the roles and responsibilities of contracting officials, program managers, product specifiers, and purchase card holders and administrators; • Promote the acquisition of green products and services internally within the agency and externally to all product vendors and service providers, including other federal, state, and local agencies; • Provide for annual compliance monitoring, corrective action, and/or auditing as appropriate; • Provide mechanisms for reporting on the effectiveness of the program to demonstrate compliance; • Require flow down of green product preferences to contractors and subcontractors; and • For recycled content products only, require estimates of the total amount of recovered materials used in items supplied or used under the contract, certification that the minimum recycled content requirement was met, where appropriate, and implement procedures for verifying the estimates and certifications.
(b)An effective APP should also address: • Preference for green products and services in the agency's annual procurement forecasts for all products and services; • Development of templates for incorporating green purchasing requirements into solicitations and contracts and/or using the model templates developed by other agencies; • Use of Federal Business Opportunities (FedBizOpps) and other e-procurement tools to publicize and promote requirements for green products and services and/or sustainable acquisitions; • The incorporation of green product requirements in the agency's automated contract writing system; • Strategic sourcing opportunities for purchasing green products and services; • Achievement of best value based on life cycle cost assessments of cradle-to-grave manufacture, use and disposition; • Past performance evaluation of contractors' adherence to green components/sustainable aspects of contracts; • Green and/or sustainable standards and performance indicators in statements of work, source selection factors, and performance-based acquisitions; • Reporting of green contract requirements implementation through the Federal Procurement Data System (FPDS); and • For agencies that manage government specifications or commercial item descriptions, review and revise, as necessary, specifications and standards to permit the acquisition of green products and services.
(5)Work with private standard setting organizations and participate, pursuant to OMB Circular A-119 and the National Technology Transfer and Advancement Act (NTTAA), in the development of voluntary standards and specifications defining green products, practices and services.
(6)Develop and require training on the acquisition of green products and services as well as agency sustainable practices for requirements personnel, procurement personnel, purchase card and travel card holders and administrators, fleet managers, and facilities managers.
(7)Conduct pilot projects to test and measure results from the purchase and use of green products and services. Agencies may be requested to serve as a lead agency in coordinating a pilot and reporting government-wide results associated with the pilot.
(8)Ensure that the agency
(a)meets at least 95 percent of its requirements for acquiring an electronic product with an EPEAT-registered electronic product, unless there is no EPEAT standard for such product,
(b)enables the Energy Star® feature on agency computers and monitors,
(c)establishes and implements policies to extend the useful life of agency electronic equipment, and
(d)uses environmentally sound practices with respect to disposition of agency electronic equipment that has reached the end of its useful life. B. *Relationship of green purchasing requirements to other socio-economic programs.* Executive agencies should first determine their specific performance requirements for products and services then identify sources that effectively meet the agency's performance needs. If an agency determines that a green product or service can meet its performance needs, it shall first consider mandatory and preferred sources to obtain green products or services. If these sources do not offer products or services that meet the agency's performance needs, the agency shall obtain such products and services from other sources. Nonprofit agencies employing people who are blind or severely disabled under the AbilityOne Program pursuant to the Javits-Wagner-O'Day Act and Federal Prison Industries' UNICOR programs are mandatory sources. See Subparts 8.6 and 8.7 of the Federal Acquisition Regulation (FAR). Small businesses, including Small Disadvantaged, Women-Owned, Native American, Alaska Native, HUB-zone, and Service-Disabled Veterans, are preferred sources. C. *Automatic substitution policies.* Executive agencies in coordination with General Services Administration
(GSA)and the Defense Logistics Agency
(DLA)shall implement automatic substitution policies in accordance with the following guidelines:
(1)GSA and DLA shall coordinate with Chief Acquisition Officers and Senior Officials appointed under Section 3(d) of E.O. 13423 to identify opportunities and establish policies to automatically substitute functionally equivalent green products and services in place of non-green products and services ordered by customer agencies. These products and services may include, but are not limited to, general office products, other paper products such as tissues and towels, biobased cleaning products, and/or any other green products and services appropriate to agencies' needs. GSA and DLA shall report to the OFPP Administrator annually on the products and services for which these automatic substitution policies have been implemented.
(2)GSA and DLA shall provide only Energy Star® and FEMP-designated energy efficient products for all categories of products covered by the Energy Star® and FEMP programs, unless the head of an agency provides written justification as covered in paragraph 8.G.(2) of this policy letter. D. *Compliance and listing of green products in federal catalogs and on-line ordering systems.* GSA, DLA and any other central supply source shall:
(1)Clearly identify and prominently display designated green products and services covered in this policy letter in federal catalogs and on-line ordering systems; and
(2)Phase out competing non-green products from their supply catalogs, contracts, specifications, inventories, and schedules, in accordance with the following deadlines:
(a)For a green product designated prior to the publication of this policy letter—by January 1, 2010 or an alternative deadline established in consultation with the Federal Environmental Executive and the Administrator of OFPP.
(b)For a green product designated after the publication of this policy letter—the latter of January 1, 2010 or within one year after the date specified in subparagraph
(c)or an alternative deadline established in consultation with the Federal Environmental Executive and the Administrator of OFPP.
(c)The date referred to in subparagraph
(b)is the date a notice is issued in the **Federal Register** by the manager of a green product program at USDA, EPA, or DOE designating new products for its lists that :
(i)Can meet the functional performance requirements of competing non-green products in the same or similar product category; and
(ii)Adequately address factors that would otherwise justify exemptions from green purchasing products as described in paragraph 8.G of this policy letter. E. *Requirements for paper and printing.* In implementing the policy for paper and paper products acquired through GSA, the Government Printing Office, or private entities, Executive agencies shall:
(1)Require the use of printing and writing paper containing a minimum of 30 percent postconsumer fiber;
(2)To the maximum extent practicable, ensure that all copier machines, faxes, and printers are set up to print double-sided documents and that any reports, studies, analyses, assessments or any other contract deliverables are provided as double-sided copies;
(3)To the maximum extent practicable, require that all printing services require the use of recycled content paper and double-sided copying;
(4)To the maximum extent practicable, refrain from specifying printing and writing papers that do not contain a minimum of 30 percent postconsumer fiber for products with a limited useful life such as annual reports, catalogues, training materials, and telephone directories as appropriate; and
(5)To the maximum extent practicable, provide and transfer documents electronically to eliminate paper requirements. F. *Service contracting.* Executive agencies must include requirements and preferences for the use of green products in all new service contracts and recompeted service contracts where green products may be substituted for equivalent non-green products in the performance of the contract. Agencies are also encouraged to incorporate these requirements and preferences into existing contracts as they are modified or extended through options. Requirements and opportunities to incorporate sustainable practices and green products in service contracts are provided below. Agencies should explore further opportunities for including these practices and products in all relevant service contracts.
(1)Buildings and leased space: When acquiring leased space or entering into construction contracts for buildings and other major assets, agencies shall:
(a)implement the five Guiding Principles for High Performance and Sustainable Buildings identified in the *Federal Leadership in High Performance and Sustainable Buildings Memorandum of Understanding* and relate technical guidance found on the Whole Building Design Guide *(www.wbdg.org)* as long as it is life cycle cost effective to do so; and
(b)ensure that new buildings are 30 percent more energy efficient than the 2004 International Energy Conservation Code for residential buildings or the American Society of Heating, Refrigerating, and Air-Conditioning Engineers (ASHRAE) Standard 90.1-2004 for non-residential buildings, if life-cycle cost effective.
(2)Energy efficiency: In order to meet government-wide goals for energy efficiency, sustainable building, green product and service acquisition, and renewable energy, agencies are authorized and encouraged to use Energy Savings Performance Contracts
(ESPC)and Utility Energy Savings Contracting
(UESC)programs. ESPC and UESC programs are innovative tools for investing in building improvements to reduce energy and water use and increase the portion of remaining energy needs supplied from renewable energy sources. Agencies may use any combination of appropriated funds and private financing to carry out an individual project by covering its up front costs, as long as the entire project's future cost savings exceed the amounts required over time to repay the private financing.
(3)Fleet and rental car services: GSA and or other federal fleet service providers shall, to the maximum extent practicable, include requirements for increasing alternative fuel use, retread tires, re-refined motor oil, biolubricants, and other vehicle related products designated as recycled content, energy efficient, biobased or environmentally preferable and reducing petroleum use to the maximum extent practicable. Agencies should also ensure that Government travel arrangements for federal employee travel contain preferences for alternative fuel vehicles filled with alternative fuel, hybrids, and other designated green products as feasible and applicable.
(4)Janitorial services: Agencies shall include requirements for recycled content products (e.g., towels, sanitary tissue products, and plastic trash can liners) and biobased and/or environmentally preferable cleaning products in all janitorial contracts.
(5)Laundry services: Agencies and their contractors shall request energy and water efficient equipment, and environmentally preferable or biobased detergents in laundry service contracts.
(6)Meeting and conference services: Agencies shall, wherever possible, contract for meeting and conference services with contractors offering such green attributes as proximity to mass transportation, shuttle services using alternative fuel vehicles, recycling services, the use of recycled content and/or biobased products, energy and water efficient facilities, linen/towel reuse programs, reusable china and linens for food service, or sourcing food from local providers. G. *Exemptions from requirements.* Exemptions from the purchase requirements covered in this policy letter require written justifications in accordance with the following:
(1)A decision not to procure EPA-designated recycled content products or USDA-designated biobased items directly or though a service contract requires written justification by the agency that a determination was made that such items:
(a)Are not reasonably available within the time required;
(b)Fail to meet performance standards established in applicable specifications or fail to meet the reasonable performance standards of the procuring agency;
(c)Are only available at an unreasonable price (based on life cycle cost); or
(d)Are not available from a sufficient number of sources to maintain a satisfactory level of competition.
(2)A decision not to procure Energy Star® or FEMP designated energy efficient products directly or through a service contract requires written justification by the head of the agency that a determination was made that such products:
(a)Are not cost effective over the life of the product taking energy cost savings into account; or
(b)Are not reasonably available to meet the functional requirement of the agency. 9. *Federal Acquisition Regulatory Councils.* The Defense Acquisition Regulations Council and the Civilian Agency Acquisition Council shall conduct periodic reviews of the relevant parts of the FAR to assure
(1)that no unintended limitations to the acquisition of green products and services are contained therein, and
(2)that the procurement policies established by this policy letter are fully reflected in the FAR. 10. *Reporting requirements.* Agency activities conducted pursuant to this policy letter will be reported biennially to the President as required by E.O. 13423 and as otherwise required by statute. A. OFPP will collect data annually from agencies. Each Executive agency shall provide accurate, complete and timely data to OFPP in its annual requests. Requests may include, but are not limited to:
(1)Quantitative data on purchases of indicator items;
(2)Contract compliance data reported through the FPDS system;
(3)Data documenting the results of participation in agency or government-wide pilots;
(4)Evidence of preference language included in service contracts, procurement forecasts, solicitations, and/or competitive sourcing studies; and/or
(5)Evidence of annual training, compliance monitoring, corrective action plans and implementation of corrective actions. B. Criteria for agency reporting to OFPP on green product purchasing and service acquisitions will be updated as necessary to ensure consistency with the requirements of this policy letter. 11. *Information.* Questions or inquiries about this policy letter should be directed to the Office of Federal Procurement Policy, 725 17th Street, NW, Washington, DC 20503, telephone: 202-395-3501. 12. *Judicial review.* This Policy Letter is not intended to provide a constitutional or statutory interpretation of any kind and it is not intended, and should not be construed, to create any right or benefit, substantive or procedural, enforceable at law by a party against the United States, its agencies, its officers, or any persons. It is intended only to provide policy guidance to agencies in the exercise of their discretion concerning federal contracting. Thus, this Policy Letter is not intended, and should not be construed, to create any substantive or procedural basis on which to challenge any agency action or inaction on the ground that such action or inaction was not in accordance with this Policy Letter. 13. *Effective date.* This policy letter is effective December 28, 2007. Paul A. Denett, Administrator. [FR Doc. E7-25211 Filed 12-27-07; 8:45 am] BILLING CODE 3110-01-P POSTAL REGULATORY COMMISSION [Docket No. MC2008-1; Order No. 50] Notice AGENCY: Postal Regulatory Commission. ACTION: Notice. SUMMARY: The Commission is establishing a docket to develop a record which will allow it to meet statutory requirements pertaining to a review of nonpostal services. It solicits comments from the Postal Service and others to assist in this task. DATES: Initial briefs due June 18, 2008; reply briefs due July 2, 2008. See Supplementary Information section for additional dates. ADDRESSES: Submit comments electronically via the Commission's Filing Online system at *http://www.prc.gov* . FOR FURTHER INFORMATION CONTACT: Stephen L. Sharfman, General Counsel, 202-789-6820 and *stephen.sharfman@prc.gov* . SUPPLEMENTARY INFORMATION: The Postal Accountability and Enhancement Act (PAEA), Public Law No. 109-435, 120 Stat. 3198 (December 20, 2006), amends the Postal Reorganization Act, 39 U.S.C. 101, *et seq.* , by, among other things, limiting the Postal Service's authority to provide nonpostal services to those it offered as of January 1, 2006. 39 U.S.C. 404(e)(2). The term “nonpostal service” is defined in section 404(e)(1) as “any service that is not a postal service defined under section 102(5)[,]” which defines the term “postal service” to mean “the delivery of letters, printed matter, or mailable packages, including acceptance, collection, sorting, transportation, or other functions ancillary thereto[.]” *Id.* at § 102(5). Section 404(e)(3) directs the Commission to review each nonpostal service offered by the Postal Service on the date of the PAEA's enactment, December 20, 2006, within two years of that date. The purpose of the review is to determine which nonpostal services should continue, taking into account the public need for the service and the private sector's ability to meet that need. Any nonpostal service that the Commission concludes should not continue shall terminate. Section 404(e)(4). Finally, for any nonpostal service that it concludes should continue, the Commission “shall designate whether the service shall be regulated under this title as a market dominant product, a competitive product, or an experimental product.” Section 404(e)(5). The Commission is initiating this docket to fulfill its responsibilities under section 404(e). 1 To develop a record on which to base its findings, the Commission adopts the following procedural schedule: 1 As a result of this proceeding, the Commission will classify nonpostal services it determines should continue as either market dominant, competitive, or experimental products and will include those services in the Mail Classification Schedule. *See* 39 CFR 3020.13. Section 3642 of title 39 provides for adding to, removing from, or transferring products between the lists. Accordingly, because this proceeding has potential Mail Classification Schedule implications, the Commission is adopting the MC docket designation. 1. By no later than March 19, 2008, the Postal Service shall, in the form of a sworn statement, identify and provide a complete description of each nonpostal service offered by the Postal Service on the date of enactment of the PAEA. 2 The description shall include the current status of each nonpostal service and the Postal Service's proposed classification of each such service, *i.e.* , as a market dominant, competitive, or experimental product. The foregoing shall be accompanied by a sworn statement from a knowledgeable person (or persons) addressing the public need for each service and such other matters, if any, the Postal Service deems relevant (collectively, Postal Service statement). 2 If the services identified differ from the nonpostal services offered as of January 1, 2006, the Postal Service shall identify those services no longer offered, provide a brief description of such services, and indicate their current status. 2. By no later than April 30, 2008, any interested person (party) may respond to the Postal Service statement by submitting a sworn statement from a knowledgeable person (or persons) addressing, at a minimum, the ability of the private sector to meet the public need for any nonpostal service that the party asserts should not be offered by the Postal Service (party's statement). A party may also address such other matters, if any, the party deems relevant. 3. By no later than May 21, 2008, the Postal Service and any interested person may submit a reply to any party's statement. Such reply shall be in the form of a sworn statement by a knowledgeable person (or persons). 3 3 Any party, including the Postal Service, may submit legal memoranda on matters at issue at any time prior to May 21, 2008. 4. Initial briefs are due no later than June 18, 2008. Reply briefs may be filed and are due no later than July 2, 2008. Section 505 of title 39 requires the designation of an officer of the Commission in all public proceedings to represent the interests of the general public. The Commission hereby designates Robert Sidman to serve as the public representative, representing the interests of the general public. Pursuant to this designation, he will direct the activities of Commission personnel assigned to assist him and, will, upon request, provide their names for the record. Neither Mr. Sidman nor any of the assigned personnel will participate in or provide advice on any Commission decision in this proceeding. It Is Ordered 1. Docket No. MC2008-1 is established for the purpose of developing a record concerning nonpostal services offered by the Postal Service. 2. The procedural schedule set forth in the body of this order is adopted. 3. Robert Sidman is designated as the public representative, representing the interests of the general public in this proceeding. 4. The Secretary shall arrange for publication of this notice and order in the **Federal Register** . (Authority: 39 U.S.C. 404.) By the Commission. Steven W. Williams, Secretary. [FR Doc. E7-25243 Filed 12-27-07; 8:45 am] BILLING CODE 7710-FW-P SECURITIES AND EXCHANGE COMMISSION [Release No. 57031/December 21, 2007] Securities Exchange Act of 1934; Order Granting Registration of Egan-Jones Rating Company As A Nationally Recognized Statistical Rating Organization Egan-Jones Rating Company, a credit rating agency, furnished to the Securities and Exchange Commission (“Commission”) an application for registration as a nationally recognized statistical rating organization (“NRSRO”) under Section 15E of the Securities Exchange Act of 1934 (“Exchange Act”) for the classes of credit ratings described in clauses
(i)through
(iii)of Section 3(a)(62)(B) of the Exchange Act. The Commission finds that the application furnished by Egan-Jones Rating Company is in the form required by Exchange Act Section 15E, Exchange Act Rule 17g-1 (17 CFR 240.17g-1), and Form NRSRO (17 CFR 249b.300) and contains the information described in subparagraph
(B)of Section 15E(a)(1) of the Exchange Act. Based on the application, the Commission finds that the requirements of Section 15E of the Exchange Act are satisfied. Accordingly, *It is ordered,* under paragraph (a)(2)(A) of Section 15E of the Exchange Act, that the registration of Egan-Jones Rating Company with the Commission as an NRSRO under Section 15E of the Exchange Act for the classes of credit ratings described in clauses
(i)through
(iii)of Section 3(a)(62)(B) of the Exchange Act is granted. By the Commission. Nancy M. Morris, Secretary. [FR Doc. E7-25244 Filed 12-27-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57011; File No. SR-Amex-2007-25] Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing of a Proposed Rule Change, as Modified by Amendment No. 1, to Allow Registered Options Traders to Quote Remotely From Off the Amex's Trading Floor on a Limited Basis December 20, 2007. 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 February 27, 2007, the American Stock Exchange LLC (“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 substantially by the Amex. The Amex filed Amendment No. 1 to the proposal on December 13, 2007. 3 The Commission is publishing this notice to solicit comments on the proposed rule change, as modified by Amendment No. 1, from interested persons. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. 3 Amendment No. 1 supersedes and replaces the original filing in its entirety. I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Amex proposes to amend its rules to allow Registered Options Traders (“ROTs”) to quote remotely from off the Amex's trading floor on a limited basis. The text of the proposed rule change is available on the Amex's Web site at *http://www.amex.com,* at the Amex's Office of the Secretary, 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 the Statutory Basis for, the Proposed Rule Change 1. Purpose The Amex proposes to amend Amex Rule 958—ANTE, “Options Transactions of Registered Options Traders and Supplemental Registered Options Traders and Remote Registered Options Traders,” to allow a ROT to submit electronic quotations and orders from a location off the Amex's trading floor on a limited basis. The proposal would accommodate ROTs on days when they are not able to be present on the Amex's physical trading floor. For example, rather than calling in sick to work and thereby relinquishing the ability to quote and submit orders altogether, a ROT would be able to stream quotes and submit orders from away from the Amex's physical trading floor. 4 4 A ROT would be able to establish connectivity via the Internet through its clearing firm. The proposal would allow ROTs to quote and place orders remotely ( *i.e.* , from off the trading floor) on a temporary basis for a maximum of 20 days throughout the calendar year. 5 For purposes of a ROT's “in-person” requirement, as set forth in Amex Rules 958—ANTE
(g)and 958—ANTE (h), any transactions that occur through this limited remote quoting program will be deemed to be “on the floor.” A ROT must notify the Amex's Division of Regulation and Compliance immediately following the day or days when he or she chooses to submit quotes and orders from off the Amex's trading floor. 5 Quoting and submitting orders for one hour will qualify as one entire day. The Amex will employ the same surveillance procedures that are currently used for ROTs quoting from on the floor. Furthermore, the Amex notes that there is an independent way to monitor when a ROT is off the floor because all members are required to scan in. The Amex represents that it will be able to monitor for compliance with the Amex's trading rules, as well as the federal securities laws and the rules and regulations promulgated thereunder. 2. Statutory Basis The Amex believes that the proposed rule change is consistent with Section 6(b) of the Act, 6 in general, and furthers the objectives of Section 6(b)(5) of the Act, 7 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. 6 15 U.S.C. 78f(b). 7 15 U.S.C. 78f(b)(5). B. Self-Regulatory Organization's Statement on Burden on Competition The Amex 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 the Exchange 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 at ( *http://www.sec.gov/rules/sro.shtml* ); or • Send an e-mail to *rulecomments@sec.gov* . Please include File Number SR-Amex-2007-25 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-Amex-2007-25. 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 at *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 available publicly. All submissions should refer to File Number SR-Amex-2007-25 and should be submitted on or before January 18, 2008. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 8 8 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-25197 Filed 12-27-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57016; File No. SR-Amex-2006-31] Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing of Proposed Rule Change and Amendment Nos. 1 and 2 Thereto Relating to Annual Shareholder Meeting Requirements December 20, 2007. 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 April 7, 2006, the American Stock Exchange LLC (“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 substantially prepared by the Exchange. On December 13, 2007, the Exchange filed Amendment No. 1 to the proposed rule change. On December 20, 2007, the Exchange filed Amendment No. 2 to the proposed rule change. 3 The Commission is publishing this notice to solicit comments on the proposed rule change, as amended, from interested persons. I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend section 704 (Annual Meetings) of the Amex *Company Guide* . The text of the proposed rule change is available at Amex, the Commission's Public Reference Room, and *http://www.amex.com* . 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 the Statutory Basis for, the Proposed Rule Change 1. Purpose Amex seeks to amend its annual shareholder meeting requirement applicable to its listed issuers. Currently, section 704 of the Amex *Company Guide* requires all listed companies to hold an annual meeting of their shareholders in accordance with such listed company's charter, by-laws, and applicable state or other laws. An annual meeting allows the equity owners of a company the opportunity to elect directors and meet with management to discuss company affairs. The Exchange believes, however, that this requirement is not necessary for certain issuers of specific types of securities because the holders of such securities do not directly participate as equity holders and vote in the election of directors. In addition, Amex seeks to clarify when an issuer should hold its annual meeting and remove the notice requirement for delayed annual meetings. First, Amex proposes to amend section 704 of its *Company Guide* to explicitly state that an issuer generally must hold an annual meeting within one year of the end of its fiscal year if it is subject to the annual shareholder meeting requirement. In addition, a new listing that was not previously subject to the requirement to hold an annual meeting would be required to hold its first annual shareholder meeting within one year of its fiscal year end following the date of listing. Amex proposes two exceptions to these general requirements:
(1)An issuer is not required to hold an annual meeting if its fiscal year is less than twelve months long as a result of a change in fiscal year end; and
(2)an issuer does not have to hold an annual meeting in the same year in which such issuer completes its initial public offering. Amex believes that codifying this time frame and the exceptions will provide additional transparency to the annual shareholder meeting requirement. Amex also proposes to list a variety of securities, the issuers of which should not be subject to the foregoing general annual shareholder meeting requirement. For example, Amex proposes to exempt from the requirement issuers of a number of securities listed pursuant to section 107 (Other Securities) of the *Company Guide* and certain other securities issued by various passive business organizations. 4 The Exchange states that these types of securities are typically not an issuer's primary equity security, and their holders have only limited economic interests or other rights, which do not include voting rights. Although many of these products are issued by operating companies with listed equity securities and are thus subject to an annual meeting requirement pursuant to the primary market's rules, the Exchange submits that the *Company Guide* should specifically exempt from such requirement those operating companies which do not issue common stock or voting preferred stock. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. 3 The Exchange states that Amendment No. 2 supersedes and replaces the proposed rule change, as originally filed, and Amendment No. 1 in their entirety. 4 The various types of securities which the Exchange believes should not be subject to the annual shareholder meeting requirement include: bonds and debentures; currency and index warrants; trust preferred securities; contingent value rights; equity-linked term notes; index-linked exchangeable notes; index-linked securities; commodity-linked securities; currency-linked securities; trust certificate securities; investment trusts based on securities of individual issuers, stock indexes, or debt instruments; equity derivatives; trust issued receipts; commodity-based trust shares; currency trust shares; certain partnership interests; and paired trust shares. Amex believes that the foregoing securities should be exempt because they do not entitle their respective holders to voting rights. Similarly, Amex proposes to exempt from the general annual meeting requirement portfolio depository receipts and index fund shares, which are securities issued by unit investment trusts (“UITs”) and open-end management investment companies, respectively (collectively, “ETFs”), and typically organized as business trusts. ETFs, which are generally passive investment vehicles that seek to match the performance of an index, must obtain an exemptive order from the Commission before they offer securities. As a result, their operations are circumscribed by numerous representations and conditions contained in the applicable orders, and they do not typically experience the need for operational or other changes requiring a shareholder vote, and, by extension, a shareholder meeting. 5 In addition, UITs do not have boards of directors, which the UITs' unitholders would need to elect. 6 Accordingly, the Exchange submits that section 704 of the Amex *Company Guide* should specifically exclude ETFs from an annual shareholder meeting requirement. 5 The Exchange states that ETFs are registered under, and remain subject to, the Investment Company Act of 1940, which already imposes various shareholder-voting requirements that may be applicable to the ETFs. 6 The Exchange states that UITs are typically operated or administered by a corporate trustee, and the portfolio of a UIT, which generally consists of a fixed pool of securities, is not actively managed. Amex also proposes to exempt from the annual meeting requirement issuers of a variety of trust issued receipts (“TIRs”) 7 based on securities, commodities, and currencies. Traditional TIRs (i.e., HOLDRs) are securities issued by a trust that holds, but does not manage, specific securities on behalf of investors in the trust. Other types of TIRs also include Commodity-Based Trust Shares 8 and Currency Trust Shares. 9 The Exchange states that these trusts typically do not hold shareholder (or unitholder) meetings because the trusts have no board of directors and essentially serve as conduits for the investors' indirect investments in the underlying securities, commodities, and/or currencies of the trusts. Similarly, the Exchange lists Partnership Units, which are securities issued by a partnership that invests in a combination of futures contracts, options on futures contracts, forward contracts, commodities, and/or securities. 10 A holder of a Partnership Unit does not have the right of equity ownership of the partnership, but instead, obtains a beneficial interest in the partnership. Because the partnership is a conduit for the investment in the underlying assets, the operation and management of the partnership is performed by a general partner without holding annual meetings. Lastly, Paired Trust Shares (also known as MACROS) are securities designed to track either the positive or negative performance of a benchmark underlying asset. 11 The shares are issued by a trust in pairs, with the trust not holding the underlying asset, but instead holding only short-term U.S. Treasuries and cash equivalents. As the market price of the underlying asset fluctuates, U.S. Treasuries and cash are moved between the trusts. As indicated above in connection with TIRs, issuers of Paired Trust Shares typically do not hold shareholder (or unitholder) meetings because the trusts have no board of directors and essentially serve as conduits for the investors' indirect investments in the performance of the underlying benchmark asset. As a result, Amex believes that section 704 of the Amex *Company Guide* should specifically exempt the issuers of TIRs, Commodity-Based Trust Shares, Currency Trust Share Shares, Partnership Units, and Paired Trust Shares from the annual shareholder meeting requirement. 7 A trust issued receipt is defined in Amex Rule 1200(b) as a security:
(1)that is issued by a trust which holds specified securities deposited with the trust;
(2)that, when aggregated in some specified minimum number, may be surrendered to the trust by the beneficial owner to receive the securities; and
(3)that pays beneficial owners dividends and other distributions on the deposited securities, if any are declared and paid to the trustee by an issuer of the deposited securities. 8 *See* Amex Rule 1200A. 9 *See* Amex Rule 1200B. 10 *See* Amex Rule 1500. 11 *See* Amex Rule 1400. For these reasons, Amex has not generally required issuers of these securities to hold annual shareholder meetings in the past, consistent with their respective governance and organizational documents. However, in order to provide greater certainty and transparency for listed issuers, Amex believes it is appropriate to revise section 704 of the *Company Guide* to clarify that only issuers of voting and non-voting common stock and voting preferred stock, and their equivalents (e.g., callable common stock) are required to hold an annual shareholder meeting. With respect to the proposed list of securities, the issuers of which would be exempt from holding an annual meeting, if such issuers also list common stock or voting preferred stock, or their equivalent, such issuers must still hold an annual meeting for the holders of that common stock or voting preferred stock, or their equivalent. 12 In addition, the Exchange notes that the proposed annual meeting requirement and the listed exemptions from such requirement do not supplant any applicable state or federal securities laws concerning annual shareholder meetings. The Exchange further notes that the proposed rule change is similar to the changes approved by the Commission that were proposed by The Nasdaq Stock Market, Inc. (n/k/a The NASDAQ Stock Market LLC) (“Nasdaq”) 13 and the New York Stock Exchange LLC (“NYSE”). 14 12 *See* proposed Commentary .01 to Section 704 of the Amex *Company Guide* . 13 *See* Securities Exchange Act Release No. 53578 (March 30, 2006), 71 FR 17532 (April 6, 2006) (SR-NASD-2005-073) (approving certain changes to Nasdaq's annual shareholder meeting requirement). 14 *See* Securities Exchange Act Release No. 54029 (June 21, 2006), 71 FR 37147 (June 29, 2006) (SR-NYSE-2005-68) (approving, among other things, certain changes to NYSE's annual shareholder meeting requirement). Finally, Amex proposes to remove the provision from section 704 of the *Company Guide* that requires an issuer, who is unable to hold an annual shareholder meeting in a timely manner, to notify the Exchange and the stockholders of such issuer of the reasons for the delay, and then use good faith efforts to hold the meeting as soon as reasonably practicable in light of the circumstances causing the delay. Amex believes it is more appropriate to address annual meeting delays through its “Continued Listing and Evaluation and Follow-Up” procedures which are a part of the rules governing suspension and delisting in section 1009(a)(i) of the *Company Guide* . 15 Amex currently does not rely on the notification required in section 704 of the *Company Guide* to monitor compliance with the annual shareholder meeting requirement. Instead, the Exchange staff utilizes an electronic database supplemented by manual review of proxy statements and, in the case of issuers that do not file proxy statements, other Commission filings to determine compliance. The electronic database receives public filings on a real-time basis (i.e., deemed to be within one business day) and generates alerts, which are investigated by analysts. Finally, because neither Nasdaq nor NYSE require its respective listed issuers to notify them of their good faith efforts to hold the annual meeting as soon as reasonably practicable, continuing to enforce such a provision at Amex places the Exchange at a competitive disadvantage. 15 *See* Section 1009(a) of the Amex *Company Guide* . 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with section 6(b) of the Act, 16 in general, and furthers the objectives of section 6(b)(5) of the Act, 17 in particular, in that it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to remove impediments to and perfect the mechanisms of a free and open market and a national market system, and, in general, to protect investors and the public interest. 16 15 U.S.C. 78f(b). 17 15 U.S.C. 78f(b)(5). B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange believes that the proposed rule change does not 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 The Exchange states that 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 *rule-comments@sec.gov* . Please include File Number SR-Amex-2006-31 on the subject line. Paper comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, Station Place, 100 F Street, NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-Amex-2006-31. 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 offices 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-Amex-2006-31 and should be submitted on or before January 18, 2008. For the Commission by the Division of Trading and Markets, pursuant to delegated authority. 18 Florence E. Harmon, Deputy Secretary. 18 17 CFR 200.30-3(a)(12). [FR Doc. E7-25202 Filed 12-27-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-56993; File No. SR-CBOE-2007-104] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing of a Proposed Rule Change and Amendment No. 1 Thereto to List and Trade Range Options December 19, 2007. 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 September 6, 2007, the Chicago Board Options Exchange, Incorporated (the “CBOE” or “Exchange”) filed with the Securities and Exchange Commission (the “SEC” or “Commission”) the proposed rule change as described in Items I, II, and III below, which Items have been substantially prepared by the Exchange. CBOE filed Amendment No. 1 to the proposed rule change on December 3, 2007. 3 The Commission is publishing this notice to solicit comments on the proposed rule change, as amended, from interested persons. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. 3 Amendment No. 1 replaces the original filing in its entirety. The purpose of Amendment No. 1 is to:
(i)revise the proposed changes to CBOE Rule 12.3, *Margin Requirements,* to specify initial and/or maintenance margin requirements for margin and cash accounts and to conform the proposed rule text to existing rule text for other products;
(ii)revise the proposed definitions of “Range Interval,” “Low Range and Low Range Exercise Value,” “High Range and High Range Exercise Value,” “Exercise Settlement Amount,” and to add a new proposed definition of “exercise price;”
(iii)revise proposed CBOE Rule 20.3 to state specifically that Range Options are a separate class from other options overlying the same index;
(iv)revise proposed CBOE Rules 20.6, *Position Limits,* and 20.7, *Reports Related Position Limits and Liquidation of Positions,* to provide that Range Options will be aggregated with other option contracts on the same underlying index, including other classes of Range Options overlying the same index, for position limit purposes;
(v)revise proposed CBOE Rule 20.11 to reference certain rules of The Options Clearing Corporation (“OCC”);
(vi)add new proposed CBOE Rule 20.12 to provide that, for purposes of Range Options, reference in the Exchange Rules to the “appropriate committee” shall be read to be the “Exchange;”
(vii)provide additional information regarding FLEX options;
(viii)delete footnote 2 from the original proposed rule change, because the proposal referenced therein, SR-CBOE-2006-99, is now effective ( *See* Securities Exchange Act Release No. 56792 (November 15, 2007), 72 FR 65776 (November 23, 2007)); and
(ix)make conforming changes, clarifications and corrections in the “Purpose” section of the filing. I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend its rules to provide for the listing and trading of Range Options that may overlie any index that is eligible for options trading on the Exchange. 4 The text of the proposed rule change is available at CBOE, the Commission's Public Reference Room, and *http://www.cboe.org.legal.* 4 Range Options are European-style, cash settled options that have a payout if the settlement value of the underlying index falls within the specified Range Length at expiration. The term “Range Length” is defined in proposed CBOE Rule 20.1(c). II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, CBOE 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. CBOE 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 Exchange states that the purpose of the proposed rule change is to enable the initial and continued listing and trading on the Exchange of Range Options that overlie any index eligible for options trading on the Exchange. Range Options are European-style options that have a positive payout if the settlement value of the underlying index falls within the specified Range Length at expiration. Range Options will be based on the same framework as existing options that are traded on the Exchange. However, the maximum payout amount will be capped (as specified by the Exchange at listing) and the specific exercise settlement amount may vary based on where on the Range Length the settlement value of the underlying index value falls. The Payout Structure of Range Options The universe of possible payout amounts for Range Options resembles the shape of an isosceles trapezoid spread over a range of index values or the “Range Length.” The Range Length, or the bottom parallel (and longer) line of the trapezoid, defines the entire length of index values for which the option pays a positive amount if the settlement value of the underlying index falls within the specific Range Length. In other words, the Range Length equals the total span between two underlying index values, as set by the Exchange at listing, that is used to determine whether a Range Option is in or out of the money at expiration. The Range Length is comprised of three segments that are defined by the “Range Interval,” which is a value that the Exchange will specify at listing and the minimum Range Interval will be at least 5 index points. Using the isosceles trapezoid diagram below, the “Range Interval,” defines congruent triangles on opposite sides of the trapezoid, which have base angles of equal degrees and equal base lengths. The first triangle at the start of the Range Length defines the “Low Range” for the Range Option and if the settlement value of the underlying index value falls in the Low Range (the “Low Range Exercise Value”), the option will pay an amount that *increases* as the index value increases within the Low Range. To determine the exercise settlement amount if the settlement value of the index falls within the Low Range, the Low Range Exercise Value will be multiplied by the contract multiplier, set by the Exchange at listing. The second triangle at the end of the Range Length defines the “High Range” for the Range Option and if the settlement value of the underlying index falls in the High Range, the option will pay an amount that *decreases* as the index value increases within the High Range (“High Range Exercise Value”). To determine the exercise settlement amount if the settlement value of index falls within the High Range, the High Range Exercise Value will be multiplied by the contract multiplier, set by the Exchange at listing. Lastly, the Low Range and High Range are segments of equal lengths at opposite ends on the Range Length and if the settlement value of the underlying index falls at the starting value of the Low Range, at the ending value of the High Range or outside of either the Low Range or the High Range, the option will pay $0. EN28DE07.005 The third segment of the Range Option is defined as the “Middle Range,” and its length is equal to the Range Length minus twice the Range Interval, or as illustrated in the above diagram, its length is equal to the length of the top parallel (and shorter) line of the trapezoid. If the settlement value of the underlying index falls anywhere within the Middle Range at expiration, the payout is a fixed amount (set by the Exchange at listing) and does not vary depending on where in the Middle Range the index value falls. Also, if the index value falls in the Middle Range, this will be the highest amount that can be paid out for a Range Option and is defined as the “Maximum Range Exercise Value.” To determine the exercise settlement amount if the settlement value of the index falls anywhere within the Middle Range, the Maximum Range Exercise Value will be multiplied by the contract multiplier, set by the Exchange at listing. Unlike other options, Range Options will only be of a single type, and there will not be traditional calls and puts. Also, the exercise or “strike” price for Range Options will be the Range Length that, akin to a regular strike price, will be used to determine if the Range Option is in or out of the money. When applicable, the “strike price” for a Range Option ( *i.e.* , the Range Length) will be used to determine the degree that the option is in-the-money (capped at the Maximum Range Exercise Value) if the settlement value of the underlying index falls within either the High or Low Range of the Range Length. Determination and Example of Exercise Values The examples and diagrams below demonstrate the variations of payout amounts for Range Options. Assume the Exchange identifies the S&P 500 Index (“SPX”) as the underlying index and defines the Range Length as between 1340 and 1410. Also assume that the Exchange sets the Range Interval at 10 index points and the Maximum Range Exercise Value at 10 and the contract multiplier as $100. Payout if Closing Value of Underling Index Falls in Low or High Ranges *Example 1:* If, at expiration, the underlying index value falls in either the Low Range or the High Range, the payout will be determined based on where the settlement value falls within the respective range. If the settlement value falls within the Low Range, the Low Range Exercise Value will equal a value that falls within a progressive upward slope that ends at the beginning of the Middle Range. For example, if the settlement value of the SPX is 1342, the exercise settlement amount would be $200 ($100 x 2) or if the settlement value of the SPX is 1347, the exercise settlement would be $700 ($100 x 7). If at expiration, the settlement value of the SPX is 1340 or lower, the option would expire worthless. EN28DE07.006 *Example 2:* If the settlement value falls within the High Range, the High Range Exercise Value will equal a value that falls within a regressive downward slope that starts at the end of the Middle Range. For example, if the settlement value of the SPX is 1402, the exercise settlement amount would be $800 ($100 x 8) or if the settlement value of the SPX is 1406, the exercise settlement would be $400 ($100 x 4). If at expiration, the settlement value of the SPX is 1410 or higher, the option would expire worthless. EN28DE07.007 Maximum, Fixed Payout if Underlying Index Value Falls in Middle Range *Example 3:* If at expiration, the settlement value of the SPX is 1351, the option holder would be entitled to receive and the writer would be obligated to pay $1,000 ($100 x 10) and if the settlement value of the SPX is 1375, the exercise settlement amount would also be $1,000. This is because if the settlement value of the SPX falls anywhere within the Middle Range at expiration, the payout is a fixed amount (Maximum Range Exercise Value times the contract multiplier) and does not vary depending on where in the Middle Range the SPX value falls. EN28DE07.008 Benefits of Range Options The Exchange believes that the introduction of Range Options will provide advantages to the investing public that are not provided for by other index options. First, the Exchange believes that Range Options offer investors a relatively low risk security where the risk reduction results from knowing the maximum risk exposure when the contract is written. While there may be variations in the exercise settlement amount, the maximum exercise settlement amount is set at listing and the maximum risk therefore is limited and known at listing. Second, Range Options are structured similar to two-sided European binary options that provide additional flexibility because the option pays a reduced amount if the underlying index settles outside the main range covered by the option. Proposed New Rules To accommodate the introduction of Range Options, the Exchange proposes to adopt new Chapter XX to its rules and to make amendments to existing CBOE Rules 6.1, *Days and Hours of Business* , and 12.3, *Margin Requirements.* An introductory paragraph to Chapter XX will explain that the proposed rules in the proposed Chapter are applicable only to Range Options. Trading in Range Options will also be subject to the rules in Chapter I through XIX, XXIV, XXIVA and XXIVB, in some cases supplemented by the proposed rules in the Chapter, except for existing rules that will be replaced by the proposed rules in the Chapter and except where the context otherwise requires. As proposed, the majority of the rules governing index options will equally apply to Range Options. Those new proposed rules and those proposed amendments to existing rules pertaining to Range Options are described below.
(a)*Definitions (Proposed CBOE Rule 20.1).* Proposed Chapter XX includes new definitions applicable to Range Options in CBOE Rule 20.1. In particular, the terms “Range Option,” “settlement value,” “Range Length,” “Range Interval,” “Low Range and Low Range Exercise Value,” “High Range and High Range Exercise Value,” “Middle Range and Maximum Range Exercise Value,” “contract multiplier,” “exercise settlement amount,” and “exercise price” are proposed to be defined.
(b)*Days and Hours of Business (Proposed CBOE Rule 20.2 and Amendment to CBOE Rule 6.1).* Proposed CBOE Rule 20.2 and an amendment to CBOE Rule 6.1, *Days and Hours of Business Days and Hours of Business* , provide that transactions in Range Options may be effected during normal Exchange option trading hours for other options on the same index.
(c)*Designation of Range Option Contracts and Maintenance Listing Standards (Proposed CBOE Rules 20.3 and 20.4).* Proposed CBOE Rule 20.3 provides that the Exchange may from time to time approve for listing and trading on the Exchange Range Option contracts that overlie any index that is eligible for options trading on the Exchange. Range Options will be a separate class from other options overlying the same index. The Exchange may add new series of Range Options of the same class ( *i.e.* , overlying the same index) as provided for by the rules governing options on the same underlying index. Additional series of Range Options may be opened for trading on the Exchange when the Exchange deems it necessary to maintain an orderly market or to meet customer demand. The opening of a new series of Range Options on the Exchange will not affect any other series of options of the same class previously opened. Proposed CBOE Rule 20.4 provides that the maintenance listing standards with respect to options on indexes set forth in CBOE Rule 24.2 and the Interpretations and Policies thereunder will be applicable to Range Options on indexes. CBOE Rule 24.2, *Designation of the Index* , sets forth initial and maintenance listing criteria for index options.
(d)*Limitation of Liability of Exchange and of Reporting Authority (Proposed CBOE Rule 20.5).* Proposed CBOE Rule 20.5 provides that CBOE Rule 6.7, *Exchange Liability* , will be applicable in respect of any class of Range Options and that CBOE Rule 24.14, *Disclaimers* , will be applicable in respect of any reporting authority that is the source of values of any index underlying any class of Range Options.
(e)*Position Limits, Reporting Relating to Position Limits and Liquidation of Positions and Exercise Limits (Proposed CBOE Rules 20.6-20.8).* Proposed CBOE Rule 20.6 provides that in determining compliance with CBOE Rules 4.11, *Position Limits* , 24.4, *Position Limits for Broad-Based Index Options* , 24.4A, *Position Limits for Industry Index Options* , and 24.4B, *Position Limits for Options on Micro Narrow-Based Indexes as Defined Under Rule 24.2(d),* cash-settled Range Options will have a position limit equal to those for options on the same underlying index. In determining compliance with the applicable position limits, Range Options shall be aggregated with other option contracts on the same underlying index, including other classes of Range Options overlying the same index. Proposed CBOE Rule 20.7 provides that Range Options will be subject to the same reporting and other requirements triggered for options on the same underlying index. In computing reportable Range Options, Range Options will be aggregated with other option contracts on the same underlying index, including other classes of Range Options overlying the same index. Proposed CBOE Rule 20.8 provides that exercise limits for Range Options will be the same as those for other options on the same underlying index. To illustrate, CBOE Rule 24.4 provides that the standard position limit for options on the CBOE Russell 2000 Volatility Index (“RVX”) is 50,000 contracts, and the near-term position limit is 30,000 contracts. Therefore, the standard position limit for Range Options overlying the RVX would also be 50,000 contracts, and the near-term position limit would be 30,000 contracts. The 30,000 contract near-term position limit would also be the applicable exercise limit for Range Options on the RVX. 5 5 *See* CBOE Rule 24.5, *Exercise Limits* , which provides, *inter alia* , that in determining compliance with CBOE Rule 4.12, exercise limits for index option contracts shall be applicable to the position limits prescribed for option contracts with the nearest expiration date in CBOE Rules 24.4 or 24.4A. For the purpose of determining compliance with the above limits, Range Options on the RVX would be aggregated with all other options on the RVX, including all series of Range Options on the RVX. This same aggregation would also be utilized to calculate the reporting requirements set forth in CBOE Rule 4.13, *Reports Related to Position Limits.* 6 6 CBOE Rule 4.13 sets forth the general reporting requirement for customer accounts that maintain a position in excess of 200 contracts (long or short) in any single class of option contracts.
(f)*Determination of Settlement Value of the Underlying Index (Proposed CBOE Rule 20.9).* Proposed CBOE Rule 20.9 provides that Range Options that are “in-the-money,” or “out-of-the-money” are a function of the settlement value of the underlying index and whether at expiration the settlement values falls within or outside of the Range Length.
(g)*Premium Bids and Offers; Minimum Increments (Proposed CBOE Rule 20.10).* Proposed CBOE Rule 20.10 provides that all bids or offers made for Range Option contracts will be deemed to be for one contract unless a specific number of option contracts is expressed in the bid or offer. A bid or offer for more than one option contract, which is not made all-or-none, will be deemed to be for that amount or any lesser number of option contracts. An all-or-none bid or offer will be deemed to be made only for the amount stated. Proposed CBOE Rule 20.10 also provides that all bids or offers made for Range Option contracts will be governed by the CBOE Rule 24.8, *Meaning of Premium Bids and Offers* , as that rule applies to index options.
(h)*Exercise of Range Options (Proposed CBOE Rule 20.11).* Proposed CBOE Rule 20.11 provides that Range Options will be exercised at expiration if the settlement value of the underlying index falls within the Range Length, and that Range Options shall be subject to the exercise by exception processing procedures set forth in OCC Rules 805 and 1804. OCC Rules 805 and 1804 contain provisions which, *inter alia* , permit option holders to give instructions to not exercise an option contract.
(i)*Exchange Authority (Proposed CBOE Rule 20.12).* Proposed CBOE Rule 20.12 provides that for purposes of Range Options, references in the Exchange Rules to the appropriate committee shall be read to be the Exchange. 7 The Exchange is proposing this provision because it may determine to assign the applicable authorities with respect to Range Options to committees and/or Exchange staff. This provision will provide the Exchange with flexibility to delegate the authorities under the rules with respect to Range Options to an appropriate committee or appropriate Exchange staff and will not have to make a rule change merely to accommodate the reassignment of such authority. For example, the Exchange may determine to delegate the authority to determine the applicable opening parameter settings to the Office of the Chairman. 7 Thus, for example, references to determinations regarding the applicable opening parameter settings established by the “appropriate Procedure Committee” in CBOE Rule 6.2B, *Hybrid Opening System (“HOSS”)* , shall be read to be by the “Exchange.” *See e.g.* , Securities Exchange Act Release No. 55919 (June 18, 2007), 72 FR 34495 (June 22, 2007) (rule change providing, *inter alia,* that for purposes of Credit Options, references in the Exchange Rules to the appropriate committee shall be read to be the Exchange.).
(j)*FLEX Trading (Proposed CBOE Rule 20.13).* Proposed CBOE Rule 20.13 provides that Range Options will be eligible for trading as Flexible Exchange Options as provided for in Chapter XXIVA and XXIVB. 8 For purposes of CBOE Rules 24A.4 and 24B.4, the parties will designate the Range Length, Range Interval and Maximum Exercise Value. CBOE Rules 24A.9 and 24B.9, regarding the minimum quote width, will not apply to Range Options. 8 FLexible Exchange® Options (FLEX Options) are customized equity or index option contracts that provide investors with the ability to customize key contract terms, like exercise prices, exercise styles and expiration dates. More information about FLEX options may be found at: *http://www.cboe.com/institutional/IndexFlex.aspx.*
(k)*Margin (Proposed Amendment to CBOE Rule 12.3).* The Exchange is proposing to amend CBOE Rule 12.3, *Margin Requirements* , to include requirements applicable to Range Options. 9 Under the proposed requirements, for a margin account, no Range Option carried for a customer will be considered of any value for purposes of computing the margin requirement in the account of such customer and each Range Option carried for a customer will be margined separately. The initial and maintenance margin required on any Range Option carried long in a customer's account will be 100% of the purchase price of such Range Option. The initial and maintenance margin required on any Range Option carried short in a customer's account will be the Maximum Range Exercise Value times the contract multiplier. 9 The Exchange is proposing the addition of new subparagraph
(n)to CBOE Rule 12.3 for Range Options and is proposing to reserve subparagraph (m). The Exchange is seeking to reserve subparagraph
(m)because the Exchange previously proposed to use that paragraph to codify margin requirements for a product that is the subject of a pending rule filing. *See* SR-CBOE-2006-105 (proposal to list and trade binary options on broad based indexes). For a cash account, a Range Option carried short in a customer's account will be deemed a covered position, and eligible for the cash account if either one of the following is held in the account at the time the option is written or is received into the account promptly thereafter:
(i)Cash or cash equivalents equal to 100% of the Maximum Range Exercise Value times the contract multiplier; or
(ii)an escrow agreement. The escrow agreement must certify that the bank holds for the account of the customer as security for the agreement:
(A)cash,
(B)cash equivalents,
(C)one or more qualified equity securities, or
(D)a combination thereof having an aggregate market value of not less than 100% of the Maximum Range Exercise Value times the contract multiplier and that the bank will promptly pay the member organization the cash settlement amount in the event the account is assigned an exercise notice. The Exchange believes that these proposed levels are appropriate because risk exposure is limited with Range Options and the proposed customer initial and maintenance margin is equal to the maximum risk exposure. 10 10 In accordance with CBOE Rule 12.10, *Margin Required is Minimum* , the Exchange has the ability to determine at any time to impose higher margin requirements than those described above in respect of any Range Option position when it deems such higher margin requirements are appropriate.
(l)*Options Disclosure Document.* In order to accommodate the listing and trading of Range Options, it is expected that OCC will amend its By-Laws and Rules to reflect the different structure of Range Options. In addition, it is expected that OCC will seek a revision to the Options Disclosure Document (“ODD”) to incorporate Range Options.
(m)*Systems Capacity.* The Exchange represents that it believes the Exchange and the Options Price Reporting Authority have the necessary systems capacity to handle the additional traffic associated with the listing and trading of Range Options as proposed herein. The Exchange does not anticipate that there will be any additional quote mitigation strategy necessary to accommodate the trading of Range Options.
(n)*Surveillance Program.* The Exchange represents that it will have in place adequate surveillance procedures to monitor trading in Range Options prior to listing and trading such options, thereby helping to ensure the maintenance of a fair and orderly market for trading in Range Options. 2. Statutory Basis The Exchange believes the proposed rule change is consistent with the Act and the rules and regulations under the Act applicable to a national securities exchange and, in particular, the requirements of section 6(b) of the Act. Specifically, the Exchange believes the proposed rule change is consistent with the section 6(b)(5) Act 11 requirements that the rules of an exchange be designed to promote just and equitable principles of trade, to prevent fraudulent and manipulative acts, to remove impediments to and to perfect the mechanism for a free and open market and a national market system, and, in general, to protect investors and the public interest. 11 15 U.S.C. 78f(b)(5). B. Self-Regulatory Organization's Statement on Burden on Competition CBOE believes that the proposed rule change will not 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 CBOE 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 *rule-comments@sec.gov.* Please include File Number SR-CBOE-2007-104 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, Station Place, 100 F Street, NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-CBOE-2007-104. 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 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-CBOE-2007-104 and should be submitted on or before January 18, 2008. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 12 12 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-25181 Filed 12-27-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-56997; File No. SR-CBOE-2007-129] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Order Approving a Proposed Rule Change Regarding the CBSX Floor Post December 19, 2007. On November 2, 2007, the Chicago Board Options Exchange, Incorporated (“CBOE” or “Exchange”) filed with the Securities and Exchange Commission (“Commission”), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act” or “Exchange Act”) 1 and Rule 19b-4 thereunder, 2 a proposal to eliminate from the rules of the CBOE Stock Exchange (“CBSX”) the requirement that CBSX maintain a space on the CBOE trading floor to allow for in-person price discovery in CBSX securities (the “Floor Post”) and the requirement that CBSX Designated Primary Market-Makers (“DPMs”) staff the Floor Post. The proposal was published for comment in the **Federal Register** on November 14, 2007. 3 The Commission received no comments on the proposal. This order approves the proposed rule change. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. 3 *See* Securities Exchange Act Release No. 56762 (November 7, 2007), 72 FR 64096. CBSX is the Exchange's stock trading facility. It is an all-electronic trading platform. In connection with the establishment of CBSX, the Exchange established a Floor Post on the CBOE trading floor (apart from the equity option trading posts) to allow for in-person price discovery. All CBSX DPMs currently are required to maintain personnel at the Floor Post to respond to price discovery inquiries from brokers. Any resulting orders/trades are entered and processed electronically. There is no open-outcry trading on CBSX. The Exchange proposes to modify Rule 51.12 to state that CBSX “may” maintain a Floor Post. Currently, Rule 51.12 states that CBSX “will” maintain a Floor Post. The Exchange stated that it intends to continue to maintain the Floor Post; however, this change will permit the Exchange to remove the Floor Post if at a later time the Exchange deems such action prudent. The Exchange also proposes to eliminate the requirement that CBSX DPMs maintain personnel at the Floor Post. As proposed, it would be optional for CBSX DPM firms to staff the Floor Post. The Exchange stated that some CBSX DPMs have requested this change to allow them to more efficiently allocate resources. The Commission finds that the proposed rule change is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities exchange. 4 Specifically, the Commission finds that the proposal is consistent with Section 6(b)(5) of the Act, 5 which requires that the Exchange's rules be 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 to protect investors and the public interest. 4 In approving this proposed rule change, the Commission has considered the proposed rule's impact on efficiency, competition, and capital formation. *See* 15 U.S.C. 78c(f). 5 15 U.S.C. 78f(b)(5). *It is therefore ordered,* pursuant to Section 19(b)(2) of the Act, 6 that the proposed rule change (File No. SR-CBOE-2007-129) be, and it hereby is, approved. 6 15 U.S.C. 78s(b)(2). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 7 7 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-25182 Filed 12-27-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57005; File No. SR-CBOE-2007-122] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing of a Proposed Rule Change as Modified by Amendment No. 1 Thereto Amending Its Obvious Error Rule for Options on Indices, ETFs, and HOLDRS December 20, 2007. 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 October 31, 2007, the Chicago Board Options Exchange, Incorporated (“CBOE” 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 substantially prepared by the Exchange. On December 14, 2007, the CBOE submitted Amendment No. 1 to the proposed rule change. The Commission is publishing this notice to solicit comments on the proposed rule change, as amended, from interested persons. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend CBOE Rule 24.16, which is the Exchange's rule applicable to the nullification and adjustment of transactions in index options, options on exchange-traded funds (“ETFs”), and options on HOLding Company Depository ReceiptS (“HOLDRS”). The Exchange is proposing to amend the rule to change the manner in which it applies the obvious price error provision to transactions occurring as part of the Hybrid Opening System (“HOSS”) process. The text of the proposed rule change is available at the Exchange, the Commission's Public Reference Room, and *http://www.cboe.com.* 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 Exchange is proposing to amend CBOE Rule 24.16, which is its obvious error rule pertaining to index options, options on ETFs, and options on HOLDRS. The proposal would revise the obvious price error provision that pertains to transactions occurring as part of the HOSS opening rotation process. Currently, Rule 24.16 provides that an obvious price error would be deemed to have occurred when the execution price of a buy
(sell)transaction is above (below) the fair market value of the option by at least a prescribed minimum error amount. 3 For purposes of transactions occurring on HOSS, “fair market value” is currently defined as the midpoint of the first quote after the transaction(s) in question that does not reflect the erroneous transaction(s). The Exchange is proposing to revise the fair market value calculation to provide additional conditions that would apply during regular HOSS rotations and during HOSS rotations in index options series that are being used to calculate the final settlement price of volatility indexes. The additional conditions are intended to reasonably factor the amount of available liquidity into the fair market value calculation during these rotations. 3 For example, for series trading with normal bid-ask differentials as established in CBOE Rule 8.7(b)(iv), the prescribed minimum error amount is as follows: $0.125 if the fair market value is below $2, $0.20 if the fair market value is $2 to $5, $0.25 if the fair market value is above $5 to 10, $0.40 if the fair market value is above $10 to 20, and $0.50 if the fair market value is above $20. *See* CBOE Rule 24.16(a)(1). With respect to regular HOSS rotations, the Exchange is proposing to add a condition that the option contract quantity subject to nullification or adjustment would not exceed the size of the first quote after the transaction(s) in question that does not reflect the erroneous transaction(s). 4 For example, assume that the opening transactions in series XYZ totaled 200 contracts at a price $0.75. Also assume that a member representing non-CBOE Market-Maker A sold 200 contracts, trading 100 contracts with CBOE Market-Maker B and 100 contracts with non-CBOE Market-Maker C. Finally, assume that the first quote after the transaction in question that does not reflect the erroneous transaction is bid 100 contracts for $0.95 and offered 150 contracts at $1.15. In this scenario, an erroneous sell transaction would be deemed to have occurred in accordance with the obvious price error provision because the $0.75 price received by non-CBOE Market-Maker A is at least $0.125 lower than the fair market value of $1.05. 5 In addition, because the size of the bid in the first quote after that does not reflect the erroneous transaction is for 100 contracts, up to 100 contracts executed on the opening on behalf of non-CBOE Market-Maker A would be subject to nullification or adjustment under the obvious price error provision. 6 Any nullifications or adjustments would occur on a pro rata basis considering the overall size of the HOSS opening trade. Thus, 50 contracts executed against CBOE Market-Maker B would have a price adjustment to $1.05 (provided the adjusted price does not violate A's limit price) and 50 contracts executed against non-CBOE Market-Maker C would have a price adjustment to $1.05 (provided the adjusted price does not violate A's or C's limit price). 4 For erroneous sell transactions, the size of the bid would be used. For erroneous buy transactions, the size of the offer would be used. 5 $1.05 is the midpoint of $0.95 and $1.15. 6 A HOSS transaction involving a non-CBOE Market-Maker is adjusted based on the first non-erroneous quote after the erroneous transaction on CBOE, provided the price does not violate the non-CBOE Market-Maker's limit price. Otherwise, the transaction is nullified. *See* Rule 24.16(a)(1)(ii)(B) and (c)(3). With respect to HOSS rotations in index options series being used to calculate the final settlement price of a volatility index, 7 the Exchange is proposing to add a condition that the first quote after the transaction(s) in question that does not reflect the erroneous transaction(s) must be for at least the overall size of the HOSS opening transaction(s). 8 If the size of the quote is less than the overall size of the opening transaction(s), then the obvious price error provision shall not apply. For example, if the opening trade in Series XYZ is for a total of 200 contracts and the bid or offer, as applicable, of the first quote after the transaction(s) in question that does not reflect the erroneous transaction(s) is for 500 contracts, then the quote would be used to determine the fair market value and whether an obvious price error occurred. If the bid or offer, as applicable, of the quote is for only 100 contracts, then the trade would not be subject to nullification or adjustment under the obvious price error provision. 7 The Exchange states that CBOE's and the CBOE Futures Exchange, LLC's (a designated contract market approved by the Commodity Futures Trading Commission and a wholly-owned subsidiary of CBOE) rules provide for the listing and trading of options and futures, as applicable, on various volatility indexes. This proposed obvious price error provision would be utilized only for those index options series used to calculate the final settlement price of a volatility index and only on the final settlement date of the options and futures contracts on the applicable volatility index in each expiration month. Thus, for example, the proposed obvious price error provision would be used for the relevant Standard & Poor's 500 Stock Index (“SPX”) options series on settlement days for CBOE Volatility Index (“VIX”) options and futures contracts. The Exchange notes that, during the final settlement date, traders holding hedged volatility futures positions to settlement can be expected to trade out of their SPX options on that date. Traders who hold short, hedged VIX futures would liquidate that hedge by selling their SPX options, while traders holding long, hedged VIX positions would liquidate their hedge by buying SPX options. In order to seek convergence with the VIX final settlement value, these traders would be expected to liquidate their hedges by submitting orders in the appropriate SPX option series during the SPX opening on the final settlement date of the VIX futures contract. To the extent:
(i)traders who are liquidating hedges predominately are on one side of the market ( *e.g.* , seek to buy the particular SPX options); and
(ii)those traders' orders predominate over other orders during the SPX opening on the final settlement date for the VIX futures contract, trades to liquidate hedges may contribute to an order imbalance during the SPX opening on that date. The same is equally applicable with respect to the final settlement dates of other volatility index options and futures. In light of this potential for a large order imbalance in the applicable series on these dates, the Exchange believes that the application of a modified obvious price error provision is reasonable and appropriate and will contribute to a fair and orderly opening. 8 *See supra* note 4. 2. Statutory Basis The Exchange believes the proposed rule change is consistent with Section 6(b) of the Act, 9 in general, and furthers the objectives of Section 6(b)(5) of the Act, 10 in particular, in that it is designed to promote just and equitable principles of trade, serve to remove impediments to and perfect the mechanism of a free and open market and a national market system, and to protect investors and the public interest. 9 15 U.S.C. 78f(b). 10 15 U.S.C. 78f(b)(5). 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 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 by the Exchange 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 the Exchange consents, the Commission will: A. By order approve the 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 *rule-comments@sec.gov.* Please include File Number SR-CBOE-2007-122 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-CBOE-2007-122. 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 available publicly. All submissions should refer to File Number SR-CBOE-2007-122 and should be submitted on or before January 18, 2008. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 11 11 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-25187 Filed 12-27-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57012; File No. SR-CBOE-2007-03] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing of a Proposed Rule Change and Amendment No. 1 Thereto Amending its Obvious Error Rule for Options on Indices, ETFs, and HOLDRS December 20, 2007. 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 February 21, 2007, the Chicago Board Options Exchange, Incorporated (“CBOE” 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 substantially prepared by the Exchange. On December 20, 2007, the CBOE submitted Amendment No. 1 to the proposed rule change. The Commission is publishing this notice to solicit comments on the proposed rule change, as amended, from interested persons. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend CBOE Rule 24 .16, which is the Exchange's rule applicable to the nullification and adjustment of transactions in index options, options on exchange-traded funds (“ETFs”), and options on HOLding Company Depository ReceiptS (“HOLDRS”). The Exchange is proposing to amend the rule in order to:
(i)Modify the nullification and adjustment provisions for erroneous prints and erroneous quotes in the underlying;
(ii)eliminate the nullification and adjustment provision for trades below intrinsic value; and
(iii)modify the nullification provision for no bid series. The text of the proposed rule change is available at the Exchange, the Commission's Public Reference Room, and *http://www.cboe.com.* 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 Exchange proposes to make various amendments to CBOE Rule 24.16, which is its obvious error rule pertaining to index options, options on ETFs, and options on HOLDRS. First, the proposal would modify the rule's provisions pertaining to erroneous prints and erroneous quotes in the underlying. Currently, the rule provides that a trade resulting from an erroneous print disseminated in the underlying market which is later cancelled or corrected by that underlying market may be adjusted or nullified. 3 Similarly, the rule also provides that a trade resulting from an erroneous quote in the underlying security may be adjusted or nullified. 4 Under the revised rule, the appropriate Exchange committee would identify particular underlying or related instrument(s) that would be used to determine an erroneous print or quote and would also identify the relevant market(s) trading the underlying or related instrument to which the Exchange would look for purposes of applying the obvious error analysis. The underlying or related instrument(s) may include the underlying or related ETF(s), HOLDRS(s), and/or index value(s), 5 and/or related futures product(s), 6 and the relevant underlying market(s) may include one or more markets. The underlying or related instrument(s) and relevant market(s) would be designated by the appropriate Exchange committee and announced to the membership via Regulatory Circular. For a particular ETF, HOLDRS, index value, and/or futures product to qualify for consideration as a “related instrument,” the revised rule requires that:
(i)The option class and related instrument must be derived from or designed to track the same underlying index; or
(ii)in the case of S&P 100-related options, the options class and related instrument must be derived from or designed to track the S&P 100 Index or the S&P 500 Index. Thus, as an example for illustrative purposes only, for options on the Nasdaq 100 Index Tracking Stock (ETF option symbol “QQQ”) , the appropriate Exchange committee may determine to designate the underlying Nasdaq 100 ETF and the primary market where it trades, as well as a related futures product overlying the Nasdaq 100 Index and the primary market where that futures product trades, as the instruments that would be considered by the Exchange in determining whether an erroneous print or an erroneous quote has occurred that would form the basis for an adjustment or nullification to a transaction in the related options. 7 3 Under the current rule, to be adjusted or nullified, the trade must be the result of an erroneous print that is higher or lower than the average trade in the underlying security during a two-minute period before and after the erroneous print by an amount at least five times greater than the average quote width for such underlying security during the same period. *See* CBOE Rule 24.16(a)(3). 3 4 Under the current rule, an erroneous quote occurs when the underlying security has a width of at least $1.00 and has a width at least five times greater than the average quote width for such underlying security on the primary market during the time period encompassing two minutes before and after the dissemination of such quote. *See* Rule 24.16(a)(4). 5 An “index value” is the value of an index as calculated and reported by the index's reporting authority. Use of an index value would only be applicable for purposes of identifying an erroneous print in the underlying (and not an erroneous quote). *See* proposed changes to CBOE Rule 24.16(a)(3). 6 To confirm, the Exchange states that it is only proposing that it may designate underlying or related ETF(s), HOLDRS(s), and/or index value(s), and/or related futures product(s). The Exchange states that it is not proposing to designate any of the individual underlying stocks (or related options or futures on any of the individual underlying stocks) that comprise a particular ETF, HOLDR, or index (any such proposal would be the subject of a separate rule filing). 7 Using this example, under the revised rule, the designated instruments and markets would be announced by Regulatory Circular. Thereafter, for a transaction in the QQQ options class to be adjusted or nullified due to an erroneous print in an underlying or related instrument that is later cancelled or corrected, the trade must be the result of:
(i)An erroneous print in the underlying Nasdaq 100 ETF that is higher or lower than the average trade in the underlying Nasdaq 100 ETF on the primary market during a two-minute period before and after the erroneous print by an amount at least five times greater than the average quote width for the ETF during the same period; or
(ii)an erroneous print in the designated futures product overlying the Nasdaq 100 Index that is higher or lower than the average trade in the designated futures product on the designated market during a two-minute period before and after the erroneous print by an amount at least five times greater than the average quote width for the futures product during the same period. *See* proposed changes to CBOE Rule 24.16(a)(3). For an options transaction to be adjusted or nullified due to an erroneous quote in an underlying or related instrument, an erroneous quote would occur when:
(i)The underlying Nasdaq 100 ETF has a width of at least $1.00 and has a width at least five times greater than the average quote width for such ETF on the primary market during the time period encompassing two minutes before and after the dissemination of such quote; or
(ii)the designated futures product overlying the Nasdaq 100 Index has a width of at least $1.00 and has a width at least five times greater than the average quote width for such futures product on the designated market during the period encompassing two minutes before and after the dissemination of such quote. *See* proposed changes to CBOE Rule 24.16(a)(4). As another example for illustrative purposes only, for the Exchange's class of options on the S&P 100 Index (index option symbol “OEX”), the appropriate Exchange committee may determine to designate the following underlying or related instruments: the S&P 100 Index value as calculated and reported by Standard and Poor's (the index's reporting authority); the S&P Depository Receipts traded on the American Stock Exchange; and the S&P 500 futures contract traded on the Chicago Mercantile Exchange. 8 8 Using this example, under the revised rule, the designated instruments and markets would be announced by Regulatory Circular. Thereafter, for a transaction in the OEX options class to be adjusted or nullified due to an erroneous print in an underlying or related instrument that is later cancelled or corrected, the trade must be the result of:
(i)An erroneous report of the underlying S&P 100 Index value that is higher or lower than the average price in the index during a two-minute period before and after the erroneous report by an amount at least five times higher or lower than the difference between the highest and lowest index values during the same period; or
(ii)an erroneous print in the S&P Depository Receipts or S&P 500 futures contract, as applicable, that is higher or lower than the average trade in the designated instrument during a two-minute period before and after the erroneous print by an amount at least five times greater than the average quote width for the designated instrument during the same period. *See* proposed changes to CBOE Rule 24.16(a)(3). To be adjusted or nullified due to an erroneous quote in the underlying or related instrument, an erroneous quote would occur when the S&P Depository Receipts or S&P 500 futures contract, as applicable, has a width of at least $1.00 and has a width at least five times greater than the average quote width for such instrument on the relevant market during the time period encompassing two minutes before and after the dissemination of such quote. *See* proposed changes to CBOE Rule 24.16(a)(4) and note 5 *supra* . The Exchange states that the proposed change is intended to address member feedback and to provide relief in those scenarios where an erroneous options transaction may occur as the result of an erroneous print or erroneous quote in markets other than the primary market for the underlying security. The Exchange believes the proposed change recognizes that market participants trading in the overlying index, ETF, and HOLDRS options may base their options prices on trading in various products and markets, while maintaining reasonable and objective criteria for these types of obvious error reviews. Second, the proposal would eliminate the nullification and adjustment provision for trades below intrinsic value. CBOE Rule 24.16(a)(5) currently states that an obvious pricing error will be deemed to have occur when the transaction price of an option series is more than $0.10 below the intrinsic value of the same option. The purpose of deleting this provision is to account for circumstances under which options are correctly priced $0.10 or more below the intrinsic value. For example, this might occur in options with underlying securities that are hard-to-borrow, extremely volatile issues where one market participant seeks to transfer the risk of selling or buying a security to other market participants by trading options, and options that are European-style exercise thus preventing exercise prior to expiration. Additionally, the Exchange notes that elimination of this provision is consistent with the Exchange's current rule for equity options, which does not have an obvious error review for trades below intrinsic value. 9 9 See CBOE Rule 6.25. Third, the proposal would modify the nullification provision for no bid series. Currently, the rule simply provides that electronic transactions in series that are quoted no bid on the Exchange are subject to nullification provided that at least one strike price below (for calls) or above (for puts) in the same options class was quoted no bid at the time of execution. Under the revised rule, additional criteria and clarifying language would be added. Specifically, an electronic transaction in a series quoted no bid on the Exchange would be subject to nullification provided:
(i)The bid in that series immediately preceding the execution was, and for five seconds prior to the execution remained, zero; and
(ii)at least one strike price below (for calls) or above (for puts) in the same options class was quoted no bid and offered at the same price or lower as that series at the time of execution. Thus, for example, if a trade occurs in the ABC 45 call option series when the series was quoted $0.00—$0.10, the trade may be nullified if:
(i)The bid was at $0.00 for at least five seconds prior to the execution; and
(ii)at least one call option series in ABC with a strike below 45 ( *e.g.* , the ABC 30, 35 or 40 call option series) had a bid of $0.00 and an offer of $0.10 or less at the time of execution. The revised no bid provision would provide that, when determining the Exchange's quotes in the relevant series, bids and offers of the parties to the subject trade that are in any of the series in the same options class shall not be considered. The revised rule would also provide that each group of series in an options class with a non-standard deliverable will be treated as a separate options class. Thus, for example, if due to a reorganization certain of the series in the ABC option class have a deliverable of 150 shares per options contract (as compared to the standard 100 shares per option contract), all ABC option series that are subject to the 150 contract delivery requirements would be considered separately from the ABC option series that are subject to the 100 contract delivery requirements for purposes of applying the no bid provision. Finally, the revised rule would clarify that the no bid provision is intended to apply to series quoted no bid on the Exchange (as opposed to series for which the national best bid is quoted no bid). 10 10 Consistent with the existing provisions, for a nullification to be granted, any member or person associated with a member that believes it participated in a transaction that falls within the no bid series parameters must also satisfy the notification procedures set forth in paragraph
(b)of CBOE Rule 24.16. The proposed changes to the no bid provision are intended to address the Exchange's experience in applying the provision to particular trading scenarios that have occurred. The Exchange believes that the additional criteria and clarifications are reasonable and objective, and would serve to better identify instances where the no bid provision is intended to apply. 2. Statutory Basis The Exchange believes the proposed rule change is consistent with section 6(b) of the Act, 11 in general, and furthers the objectives of section 6(b)(5) of the Act, 12 in particular, in that it is designed to promote just and equitable principles of trade, prevent fraudulent and manipulative acts, 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. 11 15 U.S.C. 78f(b). 12 15 U.S.C. 78f(b)(5). 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 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 by the Exchange 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 the Exchange consents, the Commission will: A. By order approve the 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 *rule-comments@sec.gov.* Please include File Number SR-CBOE-2007-03 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-CBOE-2007-03. 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 available publicly. All submissions should refer to File Number SR-CBOE-2007-03 and should be submitted on or before January 18, 2008. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 13 13 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-25198 Filed 12-27-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57013; File No. SR-CBOE-2007-140] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Order Granting Accelerated Approval of Proposed Rule Change to List and Trade Options on Shares of the iShares MSCI Mexico Index Fund December 20, 2007. 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 November 27, 2007, the Chicago Board Options Exchange, Incorporated ( “Exchange” or “CBOE”) filed with the Securities and Exchange Commission (“Commission”) the proposed rule change as described in Items I and II below, which Items have been substantially prepared by the Exchange. The Commission is publishing this notice and order to solicit comments on the proposal from interested persons and to approve the proposed rule change on an accelerated basis. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change CBOE proposes to list and trade options on shares of the iShares MSCI Mexico Index Fund (the “Fund Options”). The text of the proposed rule change is available on the Exchange's website ( *http://www.cboe.org/Legal* ), at the Exchange's Office of the Secretary 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. The text of these statements may be examined at the places specified in Item III 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 The purpose of the proposed rule change is to obtain approval to list for trading on the Exchange options on the iShares MSCI Mexico Index Fund (“Fund”). The Exchange currently has in place initial listing and maintenance standards set forth in CBOE Rules 5.3.06 and 5.4.08, respectively (the “Listing Standards”), that are designed to allow the Exchange to list options on funds structured as open-end investment companies, such as the Fund, without having to file for Commission approval to list for trading options on the Fund. 3 The Exchange submits that the Fund meets substantially all of the Listing Standards requirements. In particular, all of the requirements set forth in CBOE Rule 5.3.06 are met, except for the requirement concerning the existence of a comprehensive surveillance sharing agreement (“CSSA”). However, the Exchange submits that sufficient mechanisms exist that would provide the Exchange with adequate surveillance and regulatory information with respect to the Fund. 3 CBOE Rules 5.3.06 and 5.4.08 set forth the initial listing and maintenance standards for registered investment companies (or series thereof) organized as open-end management investment companies, unit investment trust or other similar entities traded on a national securities exchange or through the facilities of a national securities exchange. The Fund is registered pursuant to the Investment Company Act of 1940 as a management investment company designed to hold a portfolio of securities that track the MSCI Mexico Index (“Index”). 4 The Index consists of stocks traded primarily on the Bolsa Mexicana de Valores (the “Bolsa”). The Fund employs a “representative sampling” methodology to track the Index, which means that the Fund invests in a representative sample of securities in the Index that have a similar investment profile as the Index. 5 Barclays Global Fund Advisors (“BGFA” or the “Adviser”) expects the Fund to closely track the Index so that, over time, a tracking error of 5% of less is exhibited. Securities selected by the Fund have aggregate investment characteristics (based on market capitalization and industry weightings), fundamental characteristics (such as return variability, earnings valuation and yield) and liquidity measures similar to those of the Index. The Fund will not concentrate its investments ( *i.e.* , hold 25% or more of its total assets in the stocks of a particular industry or group of industries), except, to the extent practicable, to reflect the concentration of the Index. The Fund will invest at least eighty percent (80%) of its assets in the securities comprising the Index and/or related American Depositary Receipts (“ADRs”). In addition, at least ninety percent (90%) of the Fund's assets will be invested in the securities comprising the Index or in other related Mexican securities or ADRs. The Fund may also invest its other assets in futures contracts, options on futures contracts, listed options, over-the-counter (“OTC”) options and swaps related to the Index, as well as cash and cash equivalents. The Exchange believes that these requirements and policies prevent the Fund from being excessively weighted in any single security or small group of securities and significantly reduce concerns that trading in the Fund could become a surrogate for trading in unregistered securities. 4 Morgan Stanley Capital International Inc. (“MSCI”) created and maintains the Index. 5 As of October 31, 2007, the Fund was comprised of 27 securities. America Movil SAB de DV-Series L had the greatest individual weight at 23.99%. The aggregate percentage weighting of the top five and ten securities in the Fund were 59.16% and 78.33%, respectively. More information may be accessed at the iShares MSCI Mexico Index Fund
(EWW)Web Site ( *http://www.ishares.com* ). Shares of the Fund (“Fund Shares”) are issued and redeemed, on a continuous basis, at net asset value (“NAV”) in aggregation size of 100,000 shares, or multiples thereof (a “Creation Unit”). Following issuance, Fund Shares are traded on an exchange like any other equity securities. The Fund Shares trade in the secondary markets in amounts less than a Creation Unit and the price per Fund Share may differ from its NAV, which is calculated once daily as of the regularly scheduled close of business of the New York Stock Exchange (“NYSE”). 6 6 The regularly scheduled close of trading in the NYSE is normally 4:00 p.m. Eastern Time (“ET”). State Street Bank and Trust Company, the administrator, custodian, and transfer agent for the Fund, calculates the Fund's NAV. Detailed information on the Fund can be found at *http://www.ishares.com* . The Exchange has reviewed the Fund and determined that the Fund Shares satisfy the Listing Standards, except for the requirement set forth in CBOE Rule 5.3.06(A), which requires the Fund to meet the following condition, “any non-U.S. component securities of an index or portfolio of securities on which the Units are based that are not subject to comprehensive surveillance agreements do not in the aggregate represent more than 50% of the weight of the index or portfolio[.]” The Exchange currently does not have in place a surveillance agreement with Bolsa. The Exchange notes that the Commission, in the past, has been willing to allow a national securities exchange to rely on a memorandum of understanding entered into between regulators in the event the exchanges themselves cannot enter into a CSSA. The Exchange previously made attempts to enter into a CSSA with Bolsa as part of seeking approval to list and trade options on:
(1)The CBOE Mexico 30 Index;
(2)the iShares MSCI Emerging Markets Index Fund (“EEM”); and
(3)the Vanguard Emerging Markets Fund (“VWO”), each of which held non-U.S. component securities that traded on Bolsa. 7 The Exchange also understands that the American Stock Exchange (“Amex”) previously attempted to enter into a CSSA with Bolsa as part of seeking approval to list and trade options on the Mexico Index. 8 7 *See* Securities Exchange Act Release Nos. 36415 (October 25, 1995), 60 FR 559620 (November 1, 1995) (SR-CBOE-95-45); 53621 (April 10, 2006), 71 FR 79568 (April 14, 2006) (SR-CBOE-2006-82); and 55491 (March 19, 2007), 72 FR 14145 (March 26, 2007) (SR-CBOE-2006-95). 8 *See* Securities Exchange Act Release No. 34500 (August 8, 1994), 59 FR 41534 (August 12, 1994) (SR-Amex-94-20). The Commission noted in the Approval Order regarding the CBOE Mexico 30 Index that, in cases where it would be impossible to secure a CSSA, the Commission has relied in the past on surveillance sharing agreements between the relevant regulators. 9 The Commission further noted in the Approval Order that, pursuant to the terms of the memorandum of understanding executed by the Commission and the CNBV, 10 dated October 18, 1990 (“MOU”), it was the Commission's understanding that both the Commission and the CNBV could acquire information from and provide information to the other, similar to that which would be required in a CSSA between exchanges. 11 Therefore, should CBOE need information on Mexican trading in the component securities of the CBOE Mexico 30 Index, the Commission could request such information from the CNBV under the MOU. 12 9 *See* Securities Exchange Act Release No. 36415 (October 25, 1995), 60 FR 55620 (November 1, 1995) (SR-CBOE-95-45). 10 The National Commission for Banking and Securities, or “CNBV,” is Mexico's regulatory body for financial markets and banking. 11 *See supra* note 9. 12 *Id.* The practice of relying on surveillance agreements between regulators when a foreign exchange was unable or unwilling to provide a CSSA was affirmed by the Commission in the Commission's New Product Release (“New Product Release”). 13 The Commission noted in the New Product Release that if securing a CSSA is not possible, an exchange should contact the Commission prior to listing a new derivative securities product. The Commission also noted that the Commission may determine instead that it is appropriate to rely on a memorandum of understanding between the Commission and the foreign regulator. 13 *See* Securities Exchange Act Release No. 40761 (December 8, 1998), 63 FR 70952 (December 22, 1998), at note 101. The Exchange requests that the Commission allow the listing and trading of the Fund Shares without a CSSA, upon reliance of the MOU entered into between the Commission and the CNBV, until the Exchange is able to secure a CSSA with Bolsa. The Exchange believes this request is reasonable and notes that the Commission has provided similar relief in the past. For example, the Commission approved, on a pilot basis, two CBOE proposals to list and trade options on the EEM and on the VWO. 14 14 *See* Securities Exchange Act Release Nos. 53621 (April 10, 2006), 71 FR 19568 (April 14, 2006) (SR-CBOE-2006-32); 53930 (June 1, 2006), 71 FR 33322 (June 8, 2006) (SR-CBOE-2006-56); 54347 (August 22, 2006), 71 FR 51242 (August 29, 2006) (SR-CBOE-2006-72); 54876 (December 5, 2006), 71 FR 74968 (December 13, 2006) (SR-CBOE-2006-103); and 55758 (May 14, 2007), 72 FR 28090 (May 18, 2007) (SR-CBOE-2007-43); and 55491 (March 19, 2007), 72 FR 14145 (March 26, 2007) (SR-CBOE-2006-95). The Commission's approval of this request to list and trade options on the Fund would otherwise render the Fund compliant with all of the Listing Standards. 2. Statutory Basis The proposed rule change is consistent with Section 6(b) of the Securities Exchange Act of 1934 15 (the “Act”) in general and furthers the objectives of Section 6(b)(5) 16 in particular in that it is designed to prevent fraudulent and manipulative acts and practices, promote just and equitable principles of trade, remove impediments to and perfect the mechanisms of a free and open market and a national market system, and, in general, protect investors and the public interest. Further, this proposed rule change is similar to a proposal that was submitted by Amex and recently approved by the Commission. 17 15 15 U.S.C. 78f(b). 16 15 U.S.C. 78f(b)(5). 17 See Securities Exchange Act Release No. 56778 (November 9, 2007), 72 FR 65113 (November 19, 2007) (SR-Amex-2007-100). 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 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 The Exchange neither solicited nor received comments on the proposal. III. 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-2007-140 on the subject line. Paper comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549-1090. All submissions should refer to File Number SR-CBOE-2007-140. 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 also will be available for inspection and copying at the principal office of Amex. 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-2007-140 and should be submitted on or before January 18, 2008. IV. Commission's Findings and Order Granting Accelerated Approval of the Proposed Rule Change The Commission finds that the proposed rule change is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities exchange. 18 In particular, the Commission finds that the proposed rule change is consistent with Section 6(b)(5) of the Act, 19 which requires that an exchange have rules designed, among other things, 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. 18 In approving this rule change, the Commission notes that it has considered the proposed rule's impact on efficiency, competition, and capital formation. *See* 15 U.S.C. 78c(f). 19 15 U.S.C. 78f(b)(5). The listing of the Fund Options does not fully satisfy CBOE's applicable Listing Standards, specifically the requirement set forth in CBOE Rule 5.3.06(A) that requires the Fund to meet the following condition, “any non-U.S. component securities of an index or portfolio of securities on which the Units are based that are not subject to comprehensive surveillance agreements do not in the aggregate represent more than 50% of the weight of the index or portfolio[.]” The Commission has been willing to allow an exchange to rely on a memorandum of understanding entered into between regulators where the listing SRO finds it impossible to enter into an information sharing agreement. 20 In this case, CBOE has attempted unsuccessfully to reach such an agreement with Bolsa. 20 *See supra* note 9; *See also* New Product Release, *supra* note 13. Consequently, the Commission has determined to approve CBOE's listing and trading of the Fund Options and to allow CBOE to rely on the MOU 21 with respect to the underlying Fund components trading on Bolsa. The Commission believes that, regardless of the Commission's willingness to permit reliance on the MOU, CBOE should continue to use its best efforts to obtain a comprehensive surveillance agreement with Bolsa, which shall reflect the following:
(1)Express language addressing market trading activity, clearing activity, and customer identity;
(2)the Bolsa's reasonable ability to obtain access to and produce requested information; and
(3)based on the CSSA and other information provided by the Bolsa, the absence of existing rules, law or practices that would impede the Exchange from obtaining foreign information relating to market activity, clearing activity, or customer identity, or in the event such rules, laws, or practices exist, they would not materially impede the production of customer or other information. 21 *See supra* note 9. The Exchange has requested accelerated approval of the proposed rule change. The Commission finds good cause, consistent with Section 19(b)(2) of the Act, 22 for approving this proposed rule change before the thirtieth day after the publication of notice thereof in the **Federal Register** because it will enable the Exchange to immediately consider listing and trading the Fund Options, similar to products already traded on the Exchange, 23 and because it does not raise any new regulatory issues. 22 15 U.S.C. 78s(b)(2). 23 *See supra* note 14. V. Conclusion *It is therefore ordered,* pursuant to Section 19(b)(2) of the Act, 24 that the proposed rule change (SR-CBOE-2007-140) be, and it hereby is approved on an accelerated basis. 24 15 U.S.C. 78s(b)(2). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 25 25 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-25199 Filed 12-27-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57007; File No. SR-CHX-2007-17] Self-Regulatory Organizations; The Chicago Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Regarding the Elimination of Provisions Relating to Rule 10a-1 December 20, 2007. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”) 1 and Rule 19b-4 2 thereunder, notice is hereby given that on August 31, 2007, the Chicago Stock Exchange, Inc. (“CHX” or “Exchange”) filed with the Securities and Exchange Commission (“Commission”), and on October 22, 2007 amended, the proposed rule change as described in Items I and II below, which Items have been substantially prepared by CHX. CHX has designated the proposed rule change as constituting a “non-controversial” rule change under paragraph (f)(6) of Rule 19b-4 under the Act. 3 The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. 3 17 CFR 240.19b-4(f)(6). I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change Through this filing, the Exchange proposes to amend its rules to eliminate all provisions that would impose a “price test” in connection with the short sale of securities or require that CHX's Matching System operate in a manner consistent with such a price test. The text of this proposed rule change is available at the Exchange, on the Exchange's Web site at *http://www.chx.com/rules/proposed_rules.htm,* and in 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 CHX included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received regarding the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The CHX 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 On June 28, 2007, the Commission approved final rules eliminating the price test of Rule 10a-1 4 and amending Regulation SHO. 5 The Commission's action prohibits any self-regulatory organization from having a price test and removes the “short exempt” marking requirement of Rule 200(g). The compliance date for these changes (“Compliance Date”) was July 6, 2007. 4 17 CFR 240.10a-1. 5 *See* Securities Exchange Act Release No. 34-55970 (June 28, 2007). The Exchange's rules currently include several provisions that should be eliminated to ensure that the Exchange's rules do not improperly impose a price test or otherwise require handling of short sale orders in a manner inconsistent with the Commission's latest action. Among others, these provisions include a requirement that participants effect short sales in compliance with Rule 10a-1; a description of the Matching System's repricing of sell short orders, when necessary to comply with Rule 10a-1; and a requirement that participants mark orders as “short exempt.” 6 Through this filing, the Exchange would eliminate these provisions. 6 *See* Article 9, Rule 23(a); Article 20, Rule 8(e)(5); and Article 11, Rules 3 and 4, respectively. Other provisions that must be eliminated are ones that relate to the “short exempt” order type and that refer to Rule 10a-1. *See* Article 1, Rule 2(hh) and Article 20, Rule 4(b)(23) (the “short exempt” order type); and Article 1, Rule 1(w) (referring to Rule 10a-1). The Exchange filed Amendment No. 1 to the proposal to confirm that it is not eliminating a section of its “Short Sales” rule that imposes a requirement that a market maker notify the Exchange if it has a position in a security that is greater than or equal to 5% of the outstanding public float of that security, as determined by the company's most recent report on Form 10-K. 7 The Exchange's original proposal had sought to remove this provision from its rules. 8 7 *See* Article 9, Rule 23(b). 8 This provision is one that apparently was inadvertently carried over from the Exchange's old trading model and is not necessary in the Exchange's new trading model. A separate provision of the Exchange's new trading model rules specifically requires that market makers keep data about their positions and report that information to the Exchange upon request. *See* Article 16, Rule 10. The Exchange will file a separate proposal to eliminate this provision, if it continues to believe that it is appropriate to do so. 2. Statutory Basis The proposal is consistent with the requirements of the Act and the rules and regulations thereunder that are applicable to a national securities exchange, and, in particular, with the requirements of Section 6(b). 9 The Exchange believes that the proposed change is consistent with Section 6(b)(5) of the Act, 10 because it would promote just and equitable principles of trade, remove impediments to, and perfect the mechanism of, a free and open market and a national market system, and, in general, protect investors and the public interest by modifying CHX's rules to comply with the Commission's amendments to Rule 10a-1 and Regulation SHO. 9 15 U.S.C. 78f(b). 10 15 U.S.C. 78f(b)(5). B. Self-Regulatory Organization's Statement of Burden on Competition The Exchange 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 Regarding the Proposed Rule Change Received From Members, Participants or Others No written comments were solicited or received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not:
(i)Significantly affect the protection of investors or the public interest;
(ii)Impose any significant burden on competition; and
(iii)Become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective upon filing pursuant to Section 19(b)(3)(A) of the Act 11 and Rule 19b-4(f)(6) thereunder. 12 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. 11 15 U.S.C. 78s(b)(3)(A). 12 17 CFR 240.19b-4(f)(6). The Exchange has requested that the Commission waive the 5-day pre-filing notice requirement and the 30-day operative delay of the proposal. The Commission believes that such waivers are consistent with the protection of investors and the public interest because the proposed rule change conforms CHX's rules to currently effective Commission Rules. 13 For this reason, the Commission designates the proposal to be operative upon filing with the Commission. 13 For purposes only of waiving the 30 day pre-operative period, the Commission has considered the impact of the proposed rule change on efficiency, competition and capital formation. 15 U.S.C. 78c(f). IV. Solicitation of Comments Interested persons are invited to submit written data, views and arguments concerning the foregoing, including whether the proposal 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 No. SR-CHX-2007-17 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-CHX-2007-17. 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 will also be available for inspection and copying at the principal office of the CHX. 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 No. SR-CHX-2007-17 and should be submitted on or before January 18, 2008. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 14 14 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-25189 Filed 12-27-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-56972; File No. SR-NASD-2007-035] Self-Regulatory Organizations; National Association of Securities Dealers, Inc. (n/k/a/ Financial Industry Regulatory Authority, Inc.); Order Granting Approval of a Proposed Rule Change Related to Mandated Use of an Automated Liability Notification System December 14, 2007. I. Introduction On May 25, 2007, the National Association of Securities Dealers, Inc. (“NASD”) 1 filed with the Securities and Exchange Commission (“Commission”) a proposed rule change pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”). 2 Notice of the proposal was published in the **Federal Register** on October 17, 2007. 3 For the reasons discussed below, the Commission is granting approval of the proposed rule change. 1 On July 26, 2007, the Commission approved a proposed rule change filed by NASD to amend NASD's Certificate of Incorporation to reflect its name change to Financial Industry Regulatory Authority, Inc. (“FINRA”) in connection with the consolidation of the member firm regulatory functions of NASD and NYSE Regulation, Inc. Exchange Act Release No. 56146 (July 26, 2007); 72 FR 42190 (Aug. 1, 2007). 2 15 U.S.C. 78s(b)(1). 3 Securities Exchange Act Release No. 56639 (October 11, 2007), 72 FR 58918 (October 17, 2007) [File No. SR-NASD-2007-035]. II. Description NASD Rule 11810(i) sets, forth the procedures that must be followed when a party is owed securities that have become the subject of a voluntary corporate action, such as a tender or exchange offer is seeking delivery of those securities. Under Rule 11810(i), the owed party delivers a liability notice to the owing or failing party. The liability notice sets a cut off date for the delivery of the securities by the owing party and provides notice to the owing party that it will be held liable for any damages caused by its failure to deliver the securities in time for the owed party to participate in the voluntary corporate action. If the owing party delivers the securities in response to the liability notice, it has met its delivery obligation. If the owing party fails to deliver the securities in sufficient time for the owed party to participate in the voluntary corporate action, it will be liable for any damages that may accrue thereby ( *i.e.* , the owing party must deliver proceeds equivalent to the proceeds that the owed party would have received if it had been able to participate in the offer). The owed party has the responsibility to communicate its intentions to the owing party and to prove, if necessary, that the owing party received the liability notice. Prior to this proposed rule change, Rule 11810(i) required broker-dealers to send liability notices using “electronic media having immediate receipt capabilities.” Although there was no one acceptable means for sending and tracking liability notices, NASD members advised the NASD that it was industry practice to send liability notices by fax. However, sending liability notices by fax is a manual, paper-intensive process that is subject to error. The financial risk to an owing firm that misses or incorrectly processes a liability notice relating to a voluntary corporate action can be considerable. In response to industry need for a reliable and uniform method of transmitting liability notices, The Depository Trust Company (“DTC”) developed the SMART/Track for Corporate Action Liability Notification Service (“SMART/Track”). SMART/Track is a web-based system for the communication of corporate action liability notices that allows DTC participants and National Securities Clearing Corporation clearing members to create, send, process, and tract such notices. Transmitting liability notices through SMART/Track eliminates paper liability notices and provides firms with an electronic, centralized system for the distribution, management and control of liability notices. Use of SMART/Track helps reduce the risks, costs, and delays resulting from missing or inaccurate information associated with paper corporate action liability notices. Specifically, provides participants with
(1)more timely receipt and distribution of corporation action liability notifications,
(2)a centralized system to manage and control all liability notifications on all issues,
(3)immediate identification of the security affected by a corporate action liability notification,
(4)detailed disclosure and clearer explanation of the terms and conditions of the corporate action, and
(5)an audit trail with a complete record of actions taken regarding a liability notice. As amended, NASD Rule 11810(i) mandates the use of the automated liability notification system of a registered clearing agency when the parties to a failed contract involving securities that have become the subject of a voluntary corporate action are both participant in a clearing agency that has an automated service for corporate action liability notices. 4 When either or both parties to such a contract are not participants in a registered clearing agency that has an automated service for corporate action liability notices, Rule 11810(i) continues to require the liability notice to be issued using written or comparable electronic media having immediate receipt capabilities. 4 Currently DTC is the only registered clearing agency operating an automated corporate liability notification service. NASD will announce the effective date of the proposed rule change in a “Notice to Members” that will be published no later than sixty days from the date of approval of this rule change. The NASD anticipates that the effective date of the rule change will be thirty days following publication of the Notice to Members announcing the Commission's approval. III. Discussion Section 15A(b)(6) of the Act requires, among other things, that the rules of a securities association be designed to remove impediments to perfect the mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest. 5 The proposed rule change is consistent with the provisions of the Act because by eliminating the use of paper corporate action liability notices and requiring the use of a registered clearing agency's automated service for corporate action liability notices where available, the proposed rule change should help reduce the risks, costs, and delays resulting from missing or inaccurate information associated with paper corporate action liability notices. 5 15 U.S.C. 78o-3(b)(6). Accordingly, for the reasons stated above the Commission finds that the rule change, is consistent with FINRA's obligation under Section 15A(b)(6) of the Act to foster cooperation and coordination with persons engaged in regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities, to remove impediments to perfect the mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest. IV. Conclusion On the basis of the foregoing, the Commission finds that the proposed rule change is consistent with the requirements of the Act and in particular with the requirements of Section 15a(b)(6) of the Act and the rules and regulations thereunder. *It is therefore ordered,* pursuant to Section 19(b)(2) of the Act, that the proposed rule change (File No. SR-NASD-2007-035) be and hereby is approved. For the Commission by the Division of Trading and Practices, pursuant to delegated authority. 6 6 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-25179 Filed 12-27-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57010; File No. SR-FINRA-2007-020] Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing of Proposed Rule Change To Create Exception to Principal Approval Requirements for Certain Filed Sales Material December 20, 2007. 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 November 1, 2007, Financial Industry Regulatory Authority, Inc. (“FINRA”) (f/k/a National Association of Securities Dealers, Inc. (“NASD”)) 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 substantially prepared by FINRA. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change FINRA is proposing to amend NASD Rule 2210 (Communications with the Public) to create an exception from the principal approval requirements for certain filed sales material. Below is the text of the proposed rule change. Proposed new language is in italics; proposed deletions are in brackets. 2200. COMMUNICATIONS WITH CUSTOMERS AND THE PUBLIC 2210. Communications With the Public
(a)No Change.
(b)Approval and Recordkeeping.
(1)Registered Principal Approval for Advertisements, Sales Literature and Independently Prepared Reprints ( *A* ) A registered principal of the member must approve by signature or initial and date each advertisement, item of sales literature and independently prepared reprint before the earlier of its use or filing with NASD's Advertising Regulation Department (“Department”). ( *B* ) With respect to debt and equity securities that are the subject of research reports as that term is defined in Rule 472 of the New York Stock Exchange, [this requirement] *the requirements of paragraph (A)* may be met by the signature or initial of a supervisory analyst approved pursuant to Rule 344 of the New York Stock Exchange. ( *C* ) A registered principal qualified to supervise security futures activities must approve by signature or initial and date each advertisement or item of sales literature concerning security futures. ( *D* ) *The requirements of paragraph
(A)shall not apply with regard to any advertisement, item of sales literature, or independently prepared reprint if, at the time that a member intends to publish or distribute it:*
(i)*another member has filed it with the Department and has received a letter from the Department stating that it appears to be consistent with applicable standards; and*
(ii)*the member using it in reliance upon this paragraph has not materially altered it and will not use it in a manner that is inconsistent with the conditions of the Department's letter* .
(2)Recordkeeping
(A)Members must maintain all advertisements, sales literature, and independently prepared reprints in a separate file for a period *beginning on the date* of *first use and ending* three years from the date of last use. The file must include:
(i)*a copy of the advertisement, item of sales literature or independently prepared reprint, and the dates of first and (if applicable) last use of such material;* ( *ii* ) the name of the registered principal who approved each advertisement, item of sales literature, and independently prepared reprint and the date that approval was given, *unless such approval is not required pursuant to paragraph (b)(1)(D); and* *(iii) for any advertisement, item of sales literature or independently prepared reprint for which principal approval is not required pursuant to paragraph (b)(1)(D), the name of the member that filed the advertisement, sales literature or independently prepared reprint with the Department, and a copy of the corresponding review letter from the Department* .
(B)No Change.
(c)through
(e)No Change. II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, FINRA 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. FINRA 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 NASD Rule 2210 (Communications with the Public) requires that a registered principal of a FINRA member firm approve in writing all advertisements, sales literature, and independently prepared reprints (collectively, “sales material”) prior to use. Certain types of sales material, such as advertisements and sales literature concerning mutual funds or variable insurance products must be filed with the FINRA Advertising Regulation Department (“Department”). For funds and variable products that are sold through intermediary firms, a registered principal at the fund's or variable product's underwriter typically approves sales material internally and files the material with the Department. FINRA rules require registered principals at each of the intermediary firms that use the underwriter's sales material to re-approve in writing each of these items used by their firms. (The intermediary firm is not required to re-file the sales material with the Department so long as it is used without material change.) If firms have selling agreements with multiple fund families and insurance companies, the number of items that require re-approval can easily be in the hundreds, and often thousands, per firm annually. Based on recommendations made by its Small Firms Rules Impact Task Force, 3 and to eliminate what FINRA regards as a compliance redundancy, FINRA is proposing to create an exception to Rule 2210's registered principal approval requirements for intermediary firms that use the sales material of another firm. The exception would apply only to sales material that another firm has filed with the Department, and for which the Department has issued a review letter finding that the material appears to be consistent with applicable standards. 3 NASD established the Small Firms Rules Impact Task Force in September 2006 to examine how existing NASD rules impact smaller firms. In particular, the Task Force focuses on possible opportunities to amend or modernize certain conduct rules that may be particularly burdensome for small firms, where such changes are consistent with investor protection and market integrity. The intermediary firm that relies on this exception could not materially alter the sales material or use it in a manner that is inconsistent with any conditions stated in the Department's review letter. For example, if the Department's review letter was based in part upon the representation by the filing firm that the sales material would be accompanied by a fund prospectus, the intermediary firm would be subject to a similar constraint. Although FINRA anticipates that firms will utilize the exception primarily with respect to mutual fund and variable insurance product sales material, the exception is not limited to sales material for particular products. Thus, the exception also would apply to sales material for other products, such as real estate investment trusts or direct participation programs, provided the sales material meets the exception's requirements. If this exception were adopted, FINRA believes it would save intermediary firms' compliance personnel numerous hours that are currently spent reviewing sales material that has already been approved by a registered principal at the product underwriter, and that the Department staff also has reviewed and found to be consistent with applicable standards. Of course, some firms may want to continue to review this sales material, and the proposal would allow them to do so. 4 4 The proposed rule change would not affect the contractual obligations that exist between underwriters and intermediary firms. Some dealer agreements may, for example, restrict the ability of underwriters and product wholesalers to send their sales material directly to a retail firm's sales force. These restrictions can facilitate the intermediary firm's ability to supervise its sales force. The proposed rule change would not alter the underwriter's obligations to comply with these contractual restrictions. The proposed rule change would also revise certain of the advertising recordkeeping requirements. Today, Rule 2210(b)(2)(A) states that firms must maintain a copy of all sales material for a period of three years from the date of last use. Existing practice has been to assume that the record-keeping requirement begins on the date of first use. The proposal would codify this position. For sales material subject to the principal approval exception, firms would have to keep a record of the name of the firm that filed the sales material and a copy of the related FINRA review letter. FINRA will announce the effective date of the proposed rule change in a *Regulatory Notice* to be published no later than 60 days following Commission approval. The effective date will be the date FINRA publishes the *Regulatory Notice* announcing Commission approval. 2. Statutory Basis FINRA believes that the proposed rule change is consistent with the provisions of section 15A(b)(6) of the Act, 5 which requires, among other things, that FINRA rules must be designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, and, in general, to protect investors and the public interest. FINRA believes that creation of an exception that eliminates the requirement for firms to re-approve sales material in limited circumstances where a registered principal of a firm has previously approved the sales material and the Department has previously supplied a favorable review letter is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, and in general to protect investors and the public interest. This exception from the principal approval requirements of Rule 2210 will eliminate a current compliance redundancy and will continue to protect investors, since the initial firm creating all sales material subject to this exception will still have to obtain approval from its registered principal, file it for review with the Department, and obtain a favorable review letter from the Department. 5 15 U.S.C. 78o-3(b)(6). B. Self-Regulatory Organization's Statement on Burden on Competition FINRA does not believe that the proposed rule change will result in any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act, as amended. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others Written comments were neither solicited nor received. 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 the self-regulatory organization consents, the Commission will:
(A)By order approve such proposed rule change; or
(B)Institute proceedings to determine whether such 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 *rule-comments@sec.gov.* Please include File Number SR-FINRA-2007-020 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-FINRA-2007-020. 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 FINRA. 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-FINRA-2007-020 and should be submitted on or before January 18, 2008. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 6 6 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-25191 Filed 12-27-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57020; File No. SR-FINRA-2007-012] Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing of Proposed Rule Change and Amendment No. 1 thereto to Amend Trade Reporting Rules to Require Related Market Center Indicator on Certain Non-Tape Reports Submitted to FINRA December 20, 2007. 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 September 12, 2007, the Financial Industry Regulatory Authority, Inc. (“FINRA”) (f/k/a National Association of Securities Dealers, Inc. (“NASD”) 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 substantially prepared by FINRA. 3 On December 18, 2007, FINRA filed Amendment No. 1 to the proposed rule change. The Commission is publishing this notice to solicit comments on the proposed rule change as modified by Amendment No. 1 from interested persons. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. 3 On July 26, 2007, the Commission approved a proposed rule change filed by NASD to amend NASD's Certificate of Incorporation to reflect its name change to the Financial Industry Regulatory Authority, Inc., or FINRA, in connection with the consolidation of the member firm regulatory functions of NASD and NYSE Regulation, Inc. *See* Securities Exchange Act Release No. 56146 (July 26, 2007), 72 FR 42190 (August 1, 2007). I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change FINRA is proposing to amend its trade reporting rules to require that on any non-tape report (a non-tape, non-clearing report or a clearing-only report) submitted to a FINRA Facility ( *i.e.* , the Alternative Display Facility (“ADF”), a Trade Reporting Facility (“TRF”) 4 or the OTC Reporting Facility (“ORF”)) associated with a previously executed trade that was not reported to that same FINRA Facility, members identify the facility or market where the associated trade was reported. The text of the proposed rule change is available at FINRA, the Commission's Public Reference Room, and *http://www.finra.org* . 4 Effective July 30, 2007, FINRA was formed through the consolidation of NASD and the member regulatory functions of NYSE Regulation, Inc. Accordingly, the TRFs are now doing business as the FINRA TRFs ( *i.e.* , the FINRA/Nasdaq TRF, the FINRA/NSX TRF and the FINRA/NYSE TRF). The formal name change of each TRF is pending and once completed, FINRA will file a separate proposed rule change to reflect those changes in the Manual. II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, FINRA 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. FINRA 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 Background Certain transactions can be trade reported in related tape ( *i.e.* , the transaction is reported to the tape for publication) and non-tape ( *i.e.* , the transaction is not reported to the tape for publication but is reported for clearing or regulatory purposes) reports. Non-tape reports can be
(1)“non-tape, non-clearing,” *i.e.* the transaction is not reported to the tape and is submitted to FINRA for regulatory—and not clearing—purposes, or
(2)“clearing-only,” *i.e.* , the transaction is not reported to the tape and is submitted to FINRA for clearing (and perhaps also regulatory) purposes. A riskless principal transaction 5 can be submitted to FINRA as a single trade report properly marked as riskless principal, or as two separate reports:
(1)A tape report to reflect the initial leg of the transaction and
(2)a non-tape report to reflect the offsetting, “riskless” leg of the transaction. For example, where the initial leg of a riskless principal transaction is executed on and reported through an exchange (often referred to as the “street leg” or “street side”), a tape report is not submitted to FINRA to reflect the initial leg; however, members are permitted, but not required, to submit a non-tape report to FINRA for the offsetting, “riskless” leg of the transaction. Similarly, agency transactions where one member acts as agent on behalf of another member, which transactions are the functional equivalent of riskless principal transactions, can also be reported in related tape and non-tape reports. Thus, for example, similar to the riskless principal reporting structure, where Member A, as agent for Member B, executes a trade on an exchange (and that trade is reported to the tape through the exchange), Member A may submit a non-tape report to FINRA to reflect the offsetting portion of the agency trade between Member A and Member B. 6 Currently, a non-tape report provides no specific information pertaining to a related tape report and as such, it is difficult for FINRA to determine where the associated trade was reported, especially if that trade was reported to an exchange or another FINRA Facility. 5 For purposes of over-the-counter trade reporting requirements applicable to equity securities, a “riskless principal” transaction is a transaction in which a member, after having received an order to buy
(sell)a security, purchases (sells) the security as principal (the initial leg) and satisfies the original order by selling (buying) as principal at the same price (the offsetting, “riskless” leg). 6 *See* FINRA *Regulatory Notice* 07-38 (August 2007). Proposed Amendments to NASD Rules 6130, 6130A, 6130C and 6130E FINRA is proposing to amend NASD Rules 6130 (relating to the NASD/Nasdaq TRF and ORF), 6130A (relating to the ADF), 6130C (relating to the NASD/NSX TRF) and 6130E (relating to the NASD/NYSE TRF) to require that on any non-tape report (either a non-tape, non-clearing report or a clearing-only report) submitted to a FINRA Facility associated with a previously executed trade that was not reported to that same FINRA Facility, members must identify the facility or market where the associated trade was reported. The proposed rule change also requires that members retain and produce to FINRA, upon request, documentation relating to the associated trade ( *e.g.* , a confirmation from the exchange identifying the “street side” of a riskless principal transaction). For example, pursuant to the proposed rule change, if the initial leg of a riskless principal (or agency) transaction is executed on and reported through the Nasdaq Exchange, a member submitting a non-tape report for the offsetting leg of the transaction to the NASD/Nasdaq TRF would be required to use a special indicator on that report to designate that the initial leg was reported through the Nasdaq Exchange. By way of further example, if the initial leg is executed otherwise than on an exchange and reported to the NASD/NYSE TRF, a member submitting a non-tape report for the offsetting leg to the NASD/Nasdaq TRF would be required to use a special indicator on that report to designate that the initial leg was reported to the NASD/NYSE TRF. Finally, if the initial leg is executed on and reported through a foreign exchange, 7 a member submitting a non-tape report for the offsetting leg to the ORF would be required to use a special indicator on that report to designate that the initial leg was reported through a foreign exchange. 7 This leg would not be reported to FINRA pursuant to NASD Rule 6620(g). In addition, FINRA is proposing to clarify and consolidate into a single paragraph in NASD Rules 6130, 6130A, 6130C and 6130E the rules relating to the submission of non-tape reports associated with previously executed trades. Pursuant to current Rules 6130(i), 6130A(d), 6130C(h) and 6130E(h), members are prohibited from submitting to a FINRA Facility any non-tape report, including but not limited to reports of step-outs and reversals, associated with a previously executed trade that was not reported to that FINRA Facility, except where such report reflects the offsetting, “riskless” portion of a riskless principal transaction. 8 This exception also applies to agency transactions where a FINRA member is acting as agent on behalf of another FINRA member. 9 The requirement proposed herein, *i.e.* , that a member identify on a non-tape report the market or facility where an associated trade was reported, would apply where a transaction falls within this exception for riskless principal or agency transactions and the related tape and non-tape reports are submitted to different FINRA Facilities or the non-tape report is associated with a trade that was reported to the tape through an exchange. Thus, for ease of reference, FINRA is proposing to include the proposed requirement that members identify the facility or market where the associated trade was reported in the same paragraph with the prohibition on the submission of certain non-tape reports to FINRA in current NASD Rules 6130(i), 6130A(d), 6130C(h) and 6130E(h) and to clarify that the proposed requirement applies where a non-tape report is permitted pursuant to current Rules 6130(i), 6130A(d), 6130C(h) and 6130E(h). 8 *See* Securities Exchange Act Release No. 55962 (June 26, 2007), 72 FR 36536 (July 3, 2007) (notice of filing and immediate effectiveness of SR-NASD-2007-040). SR-NASD-2007-040 became operative on November 5, 2007. *See also* FINRA *Regulatory Notice* 07-38 (August 2007). 9 *See* FINRA *Regulatory Notice* 07-38 (August 2007). FINRA believes that the proposed rule change will promote a more complete and accurate audit trail. Additionally, the proposed rule change will help ensure that members are not using non-tape reports to circumvent FINRA or Commission rules ( *e.g.* , trade-through rules). FINRA will announce the operative date of the proposed rule change on its Web site. In recognition of the technological and systems changes that the proposed rule change will require, the operative date will be at least 90 days following Commission approval. 2. Statutory Basis FINRA believes that the proposed rule change is consistent with the provisions of section 15A(b)(6) of the Act, 10 which requires, among other things, that FINRA rules be designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, and, in general, to protect investors and the public interest. FINRA believes that the proposed rule change will promote a more complete and accurate audit trail. 10 15 U.S.C. 78 *o* -3(b)(6). B. Self-Regulatory Organization's Statement on Burden on Competition FINRA does not believe that the proposed rule change will result in 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 Written comments were neither solicited nor received. 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 the FINRA 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 *rule-comments@sec.gov.* Please include File Number SR-FINRA-2007-012 on the subject line. Paper comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-FINRA-2007-012. 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 FINRA. 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-FINRA-2007-012 and should be submitted on or before January 18, 2008. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 11 11 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-25206 Filed 12-27-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-56992; File No. SR-ISE-2007-119] Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Amendment of International Securities Exchange Holdings, Inc.'s Certificate of Incorporation and Trust Agreement December 19, 2007. 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 December 14, 2007, the International Securities Exchange, LLC (the “ISE” or the “Exchange”) 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 substantially prepared by the Exchange. The ISE filed the proposed rule change pursuant to section 19(b)(3)(A)(iii) of the Act 3 and Rule 19b-4(f)(3) thereunder, 4 which renders the proposal effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. 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 19b-4(f)(3). I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange is proposing to make technical changes to the trust agreement (the “Trust Agreement”) and the certificate of incorporation (the “Certificate of Incorporation”) of its parent, International Securities Exchange Holdings, Inc. (“Holdings”), which will be adopted in connection with a corporate transaction (the “Transaction”), in which Holdings will become a wholly-owned indirect subsidiary of Eurex Frankfurt AG. Certificate of Incorporation The Exchange is proposing to make a technical change to the Certificate of Incorporation to correct the address of Holdings' registered address in the state of Delaware. Specifically, Article SECOND of the Certificate of Incorporation would be amended to read in its entirety as follows: SECOND: The address of the Corporation's registered office in the State of Delaware is 160 Greentree Drive, Suite 101, City of Dover, County of Kent, Delaware 19901. The name of its registered agent at such address is National Registered Agents, Inc. Trust Agreement In addition, the ISE is proposing to make a technical change to the Trust Agreement to provide that the full name of the trust is the “International Securities Exchange Trust.” Specifically, section 2.1 of the Trust Agreement would be amended to read in its entirety as follows: *Name.* The name of the Trust shall be the International Securities Exchange Trust (the “ISE Trust”). 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 On December 13, 2007, the Commission approved a rule filing submitted by the Exchange in connection with the Transaction 5 which included the Certificate of Incorporation and the Trust Agreement. The purpose of this rule filing is to make technical changes to the Trust Agreement and the Certificate of Incorporation necessary to permit the Exchange and Holdings to effect the Transaction. The Exchange is proposing to make a technical change to the Certificate of Incorporation to correct the address of Holdings' registered address in the State of Delaware. In addition, the ISE is proposing to make a technical change to the Trust Agreement to provide that the full name of the trust is the “International Securities Exchange Trust.” 5 *See* Securities Exchange Act Release No. 56944 (December 13, 2007) (SR-ISE-2007-101). 2. Statutory Basis The basis under the Act for this proposed rule change is the requirement under section 6(b)(5) of the Act 6 that an exchange have rules that are designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to remove impediments to and perfect the mechanism for a free and open market and a national market system, and, in general, to protect investors and the public interest. In particular, the proposal will permit the ISE to effect the Transaction. 6 15 U.S.C. 78f(b)(5). B. Self-Regulatory Organization's Statement on Burden on Competition The proposed rule change does not 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 The Exchange has not solicited, and does not intend to solicit, comments on this proposed rule change. The Exchange has not received any unsolicited written comments from members or other interested parties. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change is concerned solely with the administration of the Exchange and has, therefore, become effective pursuant to section 19(b)(3)(A)(iii) of the Act 7 and Rule 19b-4(f)(3) 8 thereunder. At any time within 60 days of the filing of such 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. 7 15 U.S.C. 78s(b)(3)(A)(iii). 8 17 CFR 19b-4(f)(3). 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-ISE-2007-119 on the subject line. Paper comments: • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-ISE-2007-119. 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 am and 3 pm. Copies of such filing also will be available for inspection and copying at the principal office of the ISE. 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-ISE-2007-119 and should be submitted on or before January 18, 2008. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 9 9 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-25180 Filed 12-27-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57014; File No. SR-ISE-2007-111] Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Order Granting Accelerated Approval of Proposed Rule Change To List and Trade Options on the iShares MSCI Mexico Index Fund December 20, 2007. 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 November 16, 2007, the International Securities Exchange, LLC ( “Exchange” or “ISE”) filed with the Securities and Exchange Commission (“Commission”) the proposed rule change as described in Items I and II below, which Items have been substantially prepared by the Exchange. The Commission is publishing this notice and order to solicit comments on the proposal from interested persons and to approve the proposed rule change on an accelerated basis. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The ISE proposes to list and trade options on the iShares MSCI Mexico Index Fund (the “Fund Options”). ISE is not proposing any changes to the rules of the Exchange. 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. The text of these statements may be examined at the places specified in Item III 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 The purpose of this rule change is to obtain approval to list for trading on the Exchange options on the iShares MSCI Mexico Index Fund (“Fund”). The Exchange currently has in place initial listing and maintenance standards set forth in ISE Rules 502(h) and 503(h), respectively (the “Listing Standards”), that are designed to allow the Exchange to list funds structured as open-end investment companies such as the Fund without having to file for Commission approval to list for trading options on the Fund. 3 The Exchange submits that the Fund meets substantially all of the Listing Standard requirements. In particular, all of the requirements set forth in ISE Rule 502(h) are met except for the requirement concerning the existence of a comprehensive surveillance sharing agreement (“CSSA”). However, the Exchange submits that sufficient mechanisms exist that would provide the Exchange with adequate surveillance and regulatory information with respect to the Fund. 3 ISE Rules 502(h) and 503(h) set forth the initial listing and maintenance standards for registered investment companies (or series thereof) organized as open-end management investment companies, unit investment trusts or other similar entities that are traded on a national securities exchange or through the facilities of a national securities exchange. The Fund is registered pursuant to the Investment Company Act of 1940 as a management investment company designed to hold a portfolio of securities which track the MSCI Mexico Index (“Index”). 4 The Index consists of stocks traded primarily on the Bolsa Mexicana de Valores (the “Bolsa”). The Fund employs a “representative sampling” methodology to track the Index, which means that the Fund invests in a representative sample of securities in the Index that have a similar investment profile as the Index. 5 Barclays Global Fund Advisors (“BGFA” or the “Adviser”) expects the Fund to closely track the Index so that, over time, a tracking error of 5%, or less, is exhibited. Securities selected by the Fund have aggregate investment characteristics (based on market capitalization and industry weightings), fundamental characteristics (such as return variability, earnings valuation and yield) and liquidity measures similar to those of the Index. The Fund will not concentrate its investments (i.e., hold 25% or more of its total assets in the stocks of a particular industry or group of industries), except, to the extent practicable, to reflect the concentration in the Index. The Fund will invest at least 80% of its assets in the securities comprising the Index and/or in American Depositary Receipts (“ADRs”). In addition, at least 90% of the Fund's assets will be invested in the securities comprising the Index or in other related Mexican securities or ADRs. The Fund may also invest its other assets in futures contracts, options on futures contracts, listed options, over-the-counter (“OTC”) options and swaps related to the Index, as well as cash and cash equivalents. The Exchange believes that these requirements and policies prevent the Fund from being excessively weighted in any single security or small group of securities and significantly reduce concerns that trading in the Fund could become a surrogate for trading in unregistered securities. 4 Morgan Stanley Capital International Inc. (“MSCI”) created and maintains the Index. 5 As of July 31, 2007, the Fund was comprised of 27 securities. America Movil SA de CV-Series L had the greatest individual weight at 25.57%. The aggregate percentage weighting of the top 5 and 10 securities in the Fund were 58.51% and 78.39%, respectively. Shares of the Fund (“Fund Shares”) are issued and redeemed, on a continuous basis, at net asset value (“NAV”) in aggregation size of 100,000 shares, or multiples thereof (a “Creation Unit”). Following issuance, Fund Shares are traded on an exchange like other equity securities. The Fund Shares trade in the secondary markets in amounts less than a Creation Unit and the price per Fund Share may differ from its NAV which is calculated once daily as of the regularly scheduled close of business of the New York Stock Exchange (“NYSE”). 6 6 The regularly scheduled close of trading in the NYSE is normally 4:00 p.m. Eastern Time (“ET”). State Street Bank and Trust Company, the administrator, custodian, and transfer agent for the Fund, calculates the Fund's NAV. Detailed information on the Fund can be found at *http://www.ishares.com.* The Exchange has reviewed the Fund and determined that the Fund Shares satisfy the Listing Standards except for the requirement set forth in ISE Rule 502(h)(1), which requires the Fund to meet the following condition: “any non-U.S. component stocks in the index or portfolio on which the Fund Shares are based that are not subject to comprehensive surveillance agreements do not in the aggregate represent more than 50% of the weight of the index or portfolio.” The Exchange currently does not have in place a surveillance agreement with Bolsa. The Exchange understands that the Commission has been willing to allow a national securities exchange to rely on a memorandum of understanding entered into between regulators in the event that the exchanges themselves cannot enter into a CSSA. The Exchange further understands that the American Stock Exchange (“Amex”) has previously attempted to enter into a surveillance agreement with Bolsa as part of seeking approval to list and trade options on the Mexico Index. 7 The Chicago Board Options Exchange (“CBOE”) has also previously attempted to enter into a surveillance agreement with Bolsa at or about the time when the CBOE sought approval to list for trading options on the CBOE Mexico 30 Index in 1995, which was comprised of stocks trading on Bolsa. 8 Since Bolsa was unable to provide a surveillance agreement, the Commission allowed the CBOE to rely on the memorandum of understanding executed by the Commission and the CNBV, 9 dated as of October 18, 1990 (“MOU”). 10 The Commission noted that in cases where it would be impossible to secure a CSSA, the Commission relied in the past on surveillance sharing agreements between the relevant regulators. 11 The Commission further noted that, pursuant to the terms of the MOU, it was the Commission's understanding that both the Commission and the CNBV could acquire information from, and provide information to, the other similar to that which would be required in a CSSA between exchanges and, therefore, should the Exchange or the CBOE need information on Mexican trading in the component securities of the Mexico Index or the CBOE Mexico 30 Index, the Commission could request such information from the CNBV under the MOU. 12 7 *See* Securities Exchange Act Release No. 34500 (August 8, 1994), 59 FR 41534 (August 12, 1994). 8 *See infra* New Product Release at note 13. 9 The National Commission for Banking and Securities, or “CNBV,” is Mexico's regulatory body for financial markets and banking. 10 *See* Securities Exchange Act Release No. 36415 (October 25, 1995), 60 FR 55620 (November 1, 1995) (SR-CBOE-95-45). 11 *Id.* 12 *Id.* The practice of relying on surveillance agreements or MOUs between regulators when a foreign exchange was unable, or unwilling, to provide an information sharing agreement was affirmed by the Commission in the Commission's New Product Release (“New Product Release”). 13 The Commission noted in the New Product Release that if securing a CSSA is not possible, an exchange should contact the Commission prior to listing a new derivative securities product. The Commission also noted that it may determine instead that it is appropriate to rely on a memorandum of understanding between the Commission and the foreign regulator. 13 *See* Securities Exchange Act Release No. 40761 (December 8, 1998), 63 FR 70952 (December 22, 1998), at note 101. The Exchange has also recently contacted Bolsa with a request to enter into a surveillance agreement. Until such time that the Exchange is able to secure a surveillance agreement with Bolsa, the Exchange requests that the Commission allow the listing and trading of the Fund Shares without a CSSA, upon reliance on the MOU entered into between the Commission and the CNBV. The Exchange believes this request is reasonable and notes that the Commission has provided similar relief in the past. For example, the Commission approved, on a pilot basis, an ISE proposal to list and trade options on the iShares MSCI Emerging Markets Fund. 14 14 *See* Securities Exchange Act Release No. 56324 (August 27, 2007), 72 FR 50426 (August 31, 2007) (SR-ISE-2007-72). The Commission's approval of this request to list and trade options on the Fund would otherwise render the Fund compliant with all of the Listing Standards. 2. Statutory Basis The basis for this proposed rule change is found in section 6(b)(5) of the Act, 15 in that the proposed change will serve to remove impediments to and perfect the mechanisms of a free and open market and a national market system and, in general, to protect investors and the public interest. Further, this proposed rule change is similar to a proposal previously submitted by Amex and recently approved by the Commission. 16 15 15 U.S.C. 78f(b)(5). 16 *See* Securities Exchange Act Release No. 56778 (November 9, 2007), 72 FR 65113 (November 19, 2007) (SR-Amex-2007-100). 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 The Exchange has not solicited, and does not intend to solicit, comments on this proposed rule change. The Exchange has not received any unsolicited written comments from members or other interested parties. III. 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-ISE-2007-111 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-ISE-2007-111. 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 also will be available for inspection and copying at the principal office of Amex. 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-ISE-2007-111 and should be submitted on or before January 18, 2008. IV. Commission's Findings and Order Granting Accelerated Approval of the Proposed Rule Change The Commission finds that the proposed rule change is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities exchange. 17 In particular, the Commission finds that the proposed rule change is consistent with section 6(b)(5) of the Act, 18 which requires that an exchange have rules designed, among other things, 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. 17 In approving this rule change, the Commission notes that it has considered the proposed rule's impact on efficiency, competition, and capital formation. *See* 15 U.S.C. 78c(f). 18 15 U.S.C. 78f(b)(5). The listing of the Fund Options does not fully satisfy ISE's applicable Listing Standards, specifically the requirement set forth in ISE Rule 502(h)(1), which requires the Fund to meet the following condition: “Any non-U.S. component stocks in the index or portfolio on which the Fund Shares are based that are not subject to comprehensive surveillance agreements do not in the aggregate represent more than 50% of the weight of the index or portfolio.” The Exchange currently does not have in place a surveillance agreement with Bolsa. The Commission has been willing to allow an exchange to rely on a memorandum of understanding entered into between regulators where the listing SRO finds it impossible to enter into an information sharing agreement. 19 In this case, ISE has attempted unsuccessfully to reach such an agreement with Bolsa. 19 *See supra* note 10; *See also* New Product Release, *supra* note 13. Consequently, the Commission has determined to approve CBOE's listing and trading of the Fund Options and to allow ISE to rely on the MOU 20 with respect to the underlying Fund components trading on Bolsa. The Commission believes that, regardless of the Commission's willingness to permit reliance on the MOU, ISE should continue to use its best efforts to obtain a comprehensive surveillance agreement with Bolsa, which shall reflect the following:
(1)Express language addressing market trading activity, clearing activity, and customer identity;
(2)the Bolsa's reasonable ability to obtain access to and produce requested information; and
(3)based on the CSSA and other information provided by the Bolsa, the absence of existing rules, law or practices that would impede the Exchange from obtaining foreign information relating to market activity, clearing activity, or customer identity, or in the event such rules, laws, or practices exist, they would not materially impede the production of customer or other information. 20 *See supra* note 10. The Exchange has requested accelerated approval of the proposed rule change. The Commission finds good cause, consistent with section 19(b)(2) of the Act, 21 for approving this proposed rule change before the thirtieth day after the publication of notice thereof in the **Federal Register** because it will enable the Exchange to immediately consider listing and trading the Fund Options, similar to products already traded on the Exchange, 22 and because it does not raise any new regulatory issues. 21 15 U.S.C. 78s(b)(2). 22 *See supra* note 14. V. Conclusion *It is therefore ordered,* pursuant to section 19(b)(2) of the Act, 23 that the proposed rule change (SR-ISE-2007-111) be, and it hereby is approved on an accelerated basis. 23 15 U.S.C. 78s(b)(2). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 24 24 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-25200 Filed 12-27-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57015; File No. SR-ISE-2007-117] Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Amendment of the Exchange's Amended and Restated Constitution December 20, 2007. Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (“Act”) and Rule 19b-4 thereunder, 2 notice is hereby given that on December 10, 2007, the International Securities Exchange, LLC (“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 substantially prepared by the Exchange. The Exchange has designated the proposed rule change as one concerned solely with the administration of the Exchange pursuant to Section 19(b)(3)(A)(iii) of the Act, 3 and Rule 19b-4(f)(3) thereunder, 4 which renders the proposal effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. 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). I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange is proposing to amend its Amended and Restated Constitution. The text of the proposed rule change is available at the Exchange, the Commission's Public Reference Room, and on the Exchange's Internet Web site at *http://www.ise.com* . 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 purpose of this proposed rule change is to amend the Exchange's Constitution to make a clarifying change relating to the qualifications of the Chairman of the Board of Directors of the Exchange. Specifically, the Exchange previously amended its Constitution 5 to allow for the election of a Former Employee Director 6 , with the intention that such Former Employee Director, if appointed, would be eligible to serve as the Chairman of the Board of Directors of the Exchange. However, in order to accomplish its intention, the Exchange must further amend the Constitution to explicitly provide that a Former Employee Director may become the Chairman of the Board of Directors of the Exchange. This proposed rule change will not affect the prohibition on an “industry representative” becoming Chairman of the Board of Directors of the Exchange as currently provided under the Constitution. 5 Securities Exchange Act Release No. 56211 (August 6, 2007), 72 FR 45287 (August 13, 2007) (SR-ISE-2007-34). 6 Section 3.2(b)(vi) of the Constitution provides that “[t]he Sole LLC Member may, in its sole and absolute discretion, elect one
(1)additional director who shall meet the requirements of “Non-Industry Directors,” except that such person was employed by the Exchange at any time during the three
(3)year period prior to his or her initial election (the “Former Employee Director”).” 2. Statutory Basis The basis under the Act for this proposed rule change is the requirement under Section 6(b)(1) 7 that an exchange be so organized and to have the capacity to be able to carry out the purposes of the Act and to comply, and (subject to any rule or order of the Commission pursuant to Section 17(d) 8 or 19(g)(2) of the Act 9 ) to enforce compliance by its members and persons associated with its members, with the provisions of the Act, the rules and regulations thereunder and the rules of the exchange. The Exchange also believes this proposed rule change furthers the objective of Section 6(b)(5) 10 that an exchange have rules that, among other things, are designed to remove impediments to and perfect the mechanism for a free and open market and a national market system, and, in general, to protect investors and the public interest. 7 15 U.S.C. 78f(b)(1). 8 15 U.S.C. 78q(d). 9 15 U.S.C. 78s(g)(2). 10 15 U.S.C. 78f(b)(5). 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 The Exchange has not solicited, and does not intend to solicit, comments on this proposed rule change. The Exchange has not received any unsolicited written comments from members or other interested parties. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing proposed rule change is effective upon filing pursuant to Section 19(b)(3)(A)(iii) 11 of the Act and Rule 19b-4(f)(3) 12 thereunder because it was designated by the Exchange as 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. 11 15 U.S.C. 78s(b)(3)(A)(iii). 12 17 CFR 240.19b-4(f)(3). 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-ISE-2007-117 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-ISE-2007-117. 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 such filing will also 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 No. SR-ISE-2007-117 and should be submitted on or before January 18, 2008. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 13 13 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-25201 Filed 12-27-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57019; File No. SR-ISE-2007-120] Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Rule 710, Minimum Trading Increments December 20, 2007. 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, 2007, the International Securities Exchange, LLC (“ISE” or “Exchange”) filed with the Securities and Exchange Commission (“Commission”) the proposed rule change as described in Items I and II below, which Items have been substantially prepared by the Exchange. The Exchange filed the proposal pursuant to Section 19(b)(3)(A) of the Act 3 and Rule 19b-4(f)(6) thereunder, 4 which renders the proposal effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. 3 15 U.S.C. 78s(b)(3)(A). 4 17 CFR 240.19b-4(f)(6). I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change ISE proposes to amend Rule 710, Minimum Trading Increments, to decrease the size of the minimum quoting and trading increments applicable to the Exchange's foreign currency options (“FX options”). The text of the proposed rule change is available at ISE, the Commission's Public Reference Room, and *http://www.ise.com.* 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. ISE 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 the Statutory Basis for, the Proposed Rule Change 1. Purpose ISE proposes to amend its Rule 710, Minimum Trading Increments, to decrease the size of the minimum quoting and trading increments applicable to the Exchange's FX options. 5 The Exchange believes that by reducing the minimum trading increments applicable to ISE's FX options, the proposed rule change will provide market participants with additional trading opportunities in this product. Further, quoting and trading in smaller increments will enable market participants to trade FX options with greater precision as to price. 5 The Exchange began trading FX options on the Euro, the British pound, the Japanese yen and the Canadian dollar on April 17, 2007. See Securities Exchange Act Release No. 55575 (April 3, 2007), 72 FR 17963 (April 10, 2007) (approving SR-ISE-2006-59). Currently, FX options traded on the Exchange have minimum increments of $0.05 or $0.10 depending on the price at which an FX option is quoting. Specifically, under the Exchange's current rules, the minimum trading increment for an FX options contract trading at less than $3.00 is $0.05, and for an FX options contract trading at $3.00 or higher, the minimum trading increment is $0.10. The proposed amendment to Rule 710 would set the minimum increment for all FX options at $0.01 regardless of the price at which the option is quoting. Although FX options would be trading in these narrower increments, they would not actually be trading in pennies 6 and would not be considered part of the Exchange's pilot program currently applicable to certain equity options. 7 6 The Exchange notes that ISE's FX options have underlying values that modify the magnitude of traditionally quoted exchange rates that appear in the underlying foreign currency markets. As a result, the “rate-modified” FX options traded on the Exchange are quoted to reflect the sub-penny movements in the actual exchange rate of any underlying currency. Since all premiums in ISE's FX options are quoted in U.S. Dollars, customers will be able to trade this product in one-cent increments. Thus, while the Exchange's proposal seeks to set the minimum increment for all FX options at $0.01, the quoted values reflect much smaller currency increments with respect to the exchange rate of the underlying currency. 7 The penny pilot, which permits certain options series to be quoted and traded in increments of $0.01, began on January 26, 2007. See Securities Exchange Act Release No. 55161 (January 24, 2007), 72 FR 4754 (February 1, 2007) (approving SR-ISE-2006-62). The penny pilot was extended through September 27, 2007. See Securities Exchange Act Release No. 56151 (July 26, 2007), 72 FR 42452 (August 2, 2007) (approving SR-ISE-2007-68). The penny pilot has been extended again through March 27, 2009. See Securities Exchange Act Release No. 56564 (September 27, 2007), 72 FR 56412 (October 3, 2007) (approving SR-ISE-2007-74). With one exception, all series in options included in the penny pilot trading at a price of less than $3.00 are currently quoted and traded in minimum increments of $0.01, and those with a price of $3.00 or higher are currently quoted and traded in minimum increments of $0.05. A list of the options to be included in the penny pilot was communicated to the Exchange's members via a Regulatory Information Circular. Currently, options on currency futures trade in these smaller increments on the Chicago Mercantile Exchange. Also, currencies trade on the cash market in these smaller increments. Further, the Commission recently approved a proposed rule change by the Philadelphia Stock Exchange (“Phlx”) permitting that exchange to trade its U.S. dollar-settled foreign currency options in $0.01 increments. 8 As a competitive matter, ISE seeks the opportunity to offer market participants those same, more refined increments. The Exchange notes that providing these more refined increments will permit the Exchange's market makers the opportunity to provide better fills (meaning less spread than the current wider minimum increments rules allow) to customers. 8 *See* Securities Exchange Act Release No. 56933 (December 7, 2007), 72 FR 71185 (December 14, 2007) (approving SR-Phlx-2007-70). 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act in general and furthers the objectives of Section 6(b)(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 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. 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 Because the foregoing proposed rule change does not:
(i)Significantly affect the protection of investors or the public interest;
(ii)Impose any significant burden on competition; and
(iii)Become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, if consistent with the protection of investors and the public interest, it has become effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-4(f)(6) thereunder. As required under Rule 19b-4(f)(6)(iii) under the Act, the Exchange provided the Commission with 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 the filing of the proposed rule change. A proposed rule change filed under 19b-4(f)(6) normally may not become operative prior to 30 days after the date of filing. However, Rule 19b-4(f)(6)(iii) permits the Commission to designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has requested that the Commission waive the 30-day operative delay and render the proposed rule change to become operative on January 2, 2008. 9 The Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest. Waiver of the 30-day operative delay would enable the Exchange to start trading FX options in the same increments and at the same time as Phlx. For the reasons stated above, the Commission therefore designates the proposal to become operative immediately. 9 The Exchange also may decide to start using these smaller trading increments later than January 2, 2007. Telephone conversation between Samir M. Patel, Assistant General Counsel, ISE, and Natasha Cowen, Special Counsel, Division of Trading and Markets, Commission, dated December 19, 2007. 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 • Send an e-mail to *rule-comments@sec.gov.* Please include File Number SR-ISE-2007-120 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-ISE-2007-120. 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 ISE. 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-ISE-2007-120 and should be submitted on or before January 18, 2008. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 10 10 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-25208 Filed 12-27-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57002; File No. SR-MSRB-2007-07] Self-Regulatory Organizations; Municipal Securities Rulemaking Board; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Rule G-14, Reports of Sales or Purchases, to Extend the Expiration Date of the Three-Hour Exception to the Fifteen-Minute Reporting Deadline December 20, 2007. 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 November 27, 2007, the Municipal Securities Rulemaking Board (“MSRB” or “Board”), filed with the Securities and Exchange Commission (“Commission” or “SEC”) the proposed rule change as described in Items I, II and III below, which Items have been prepared by the MSRB. The MSRB has filed the proposal as a “non-controversial” rule change pursuant to section 19(b)(3)(A)(iii) of the Act, 3 3 and Rule 19b-4(f)(6) thereunder, 4 which renders the proposal effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. 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)(6). I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The MSRB is filing with the Commission a proposed rule change consisting of an amendment to MSRB Rule G-14, Reports of Sales or Purchases (the “proposed rule change”). The proposed rule change would extend the expiration date of the three-hour exception to the fifteen-minute reporting deadline for certain when, as and if issued transactions under Rule G-14 RTRS Procedures, paragraph (a)(ii)(C). Under the current language of this provision, the three-hour reporting exception will automatically expire December 31, 2007. The proposed rule change provides that the three-hour exception will expire on June 30, 2008 in order to coincide with the effective date of other proposed changes to MSRB rules designed to improve transaction reporting of new issue municipal securities. The MSRB proposes an effective date for this proposed rule change of December 31, 2007. The text of the proposed rule change is available on the MSRB's Web site ( *http://www.msrb.org* ), at the MSRB, 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 MSRB 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 MSRB 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 MSRB Rule G-14, on transaction reporting, requires all brokers, dealers and municipal securities dealers (“dealers”) to report all transactions in municipal securities to the MSRB Real-Time Transaction Reporting System (“RTRS”) within fifteen minutes of the time of trade execution, with limited exceptions. One exception listed in Rule G-14 RTRS Procedures, paragraph (a)(ii) is a “three-hour exception” that allows a dealer three hours to report a transaction in a when, as and if issued (“when-issued”) security if all of the following conditions apply:
(i)The CUSIP number and indicative data of the issue traded are not in the securities master file used by the dealer to process trades for confirmations, clearance and settlement;
(ii)the dealer has not traded the issue in the previous year; and
(iii)the dealer is not a syndicate manager or syndicate member for the issue. The three-hour exception was designed to give a dealer time to add a security to its “securities master file” so that a trade can be reported through the dealer's automated trade processing systems. A securities master file contains the information about a municipal security issue that is necessary for a dealer to be able to process transactions in the issue. It includes such items as the interest rate, dated date, interest payment cycle, and put and call schedules. The dealer's securities master file often contains information only for securities held in custody for customers and for securities that have been recently traded. If a dealer trades a security that is not in its securities master file, the relevant securities information must be obtained by the dealer from an information vendor before the trade can be processed and reported. 5 5 Many dealers use service bureaus for various trade processing functions, including the maintenance of securities master files. Securities master file update procedures for service bureaus are the same as those described for dealers. For new issue transactions, a dealer's access to necessary securities information depends not only on its link with an information vendor but also on whether that vendor itself has the information on the new issue. Vendors currently obtain much of their new issue information through voluntary cooperation from underwriters. This process does not always result in all the vendors having the necessary securities information by the time trade executions begin. Dealers trading a new issue for the first time need the three-hour exception from the fifteen-minute trade reporting requirement for their first trades in a new issue because the securities information is not always available at the time the trade is executed. 6 6 In the new issue market, information vendors seek to collect information on each issue and deliver it to customers in time for trade reporting in the new issue. There are several challenges for vendors and dealers to meet the reporting deadlines. For example, there are approximately 15,000 new municipal issues that must be set up in databases each month. Another problem for the industry is the fact that approximately 85 different information fields for each issue must be successfully gathered, which in large part depends on the timely cooperation of the underwriters. To address inefficiencies in the collection of new information securities data, Securities Industry and Financial Markets Association (“SIFMA”), industry members, securities information vendors, and other service providers in the municipal securities market have worked extensively with The Depository Trust and Clearing Corporation (“DTCC”) to develop a centralized system for collecting and communicating new issue securities information. The system, called the “New Issue Information Dissemination System” (“NIIDS”), will be operated by DTCC and will act as a central collection point for standardized electronic files of new issue information provided by underwriters which will be disseminated in real-time to information vendors. DTCC plans to implement NIIDS in early 2008. 7 7 In addition to providing an improved mechanism for disseminating the new issue information necessary for trade processing, the system also would use the information for purposes of establishing depository eligibility for new issues. DTCC plans to require use of the New Underwriting System (“NUWS”), of which NIIDS is a component, beginning in April 2008. MSRB has filed with the SEC another proposed rule change designed to improve new issue transaction reporting that includes requiring underwriter participation with NIIDS. 8 The proposed effective date for these changes is June 30, 2008. NIIDS, in conjunction with MSRB rules, should make it possible for dealers to report new issue trades earlier and thus eliminate the need for the three-hour exception for when-issued trade reports. Accordingly, an extension of the three-hour exception for when-issued transactions to June 30, 2008 will allow time for NIIDS to be implemented and will ensure that the three-hour exception is available up to the effective date of MSRB rules designed to improve new issue transaction reporting. 8 *See* File Number SR-MSRB-2007-08. The proposed rule change would revise MSRB Rule G-14 RTRS Procedures (a)(ii)(C) by deleting the language regarding the expiration of the three-hour exception on December 31, 2007 and replacing the language to state that for when-issued transactions, the three-hour exception to the fifteen minute reporting rule will expire on June 30, 2008. 2. Statutory Basis The MSRB believes that the proposed rule change is consistent with section 15B(b)(2)(C) of the Act, 9 which provides that the MSRB's rules shall: 9 15 U.S.C. 78o-4(b)(2)(C). Be 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 regulating, clearing, settling, processing information with respect to, and facilitating transactions in municipal securities, to remove impediments to and perfect the mechanism of a free and open market in municipal securities, and, in general, to protect investors and the public interest. The Board believes that the proposed rule change is consistent with the Act because it will allow the municipal securities industry to produce more accurate trade reporting and transparency. B. Self-Regulatory Organization's Statement on Burden on Competition The Board does not believe that the proposed rule change will impose any burden on competition since it would apply equally to all brokers, dealers and municipal securities dealers. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received from Members, Participants or Others Although the MSRB did not publish for comment an exposure draft of the proposed rule change, the MSRB received one letter requesting that the expiration of the three-hour exception be extended to no earlier than the time that changes to MSRB rules to require underwriter participation with NIIDS become effective. 10 10 *See* letter from Leslie M. Norwood, Managing Director and Associate General Counsel, SIFMA to Harold Johnson, Deputy General Counsel, and Justin Pica, Uniform Practice Policy Advisor, MSRB dated October 16, 2007. III.Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the proposed rule change:
(i)Does not significantly affect the protection of investors or the public interest;
(ii)does not impose any significant burden on competition; and
(iii)does not become operative for 30 days from November 27, 2007, the date on which it was filed, and the MSRB provided the Commission with written notice of its intent to file the proposed rule change at least five business days prior to the filing date, the proposed rule change has become effective pursuant to section 19(b)(3)(A) of the Act 11 and Rule 19b-4(f)(6) thereunder. 12 11 15 U.S.C. 78s(b)(3)(A). 12 17 CFR 240.19b-4(f)(6). 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. 13 13 *See* Section 19(b)(3)(C) of the Act, 15 U.S.C. 78s(b)(3)(C). 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-MSRB-2007-07 on the subject line. Paper comments: • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-MSRB-2007-07. 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 MSRB. 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-MSRB-2007-07 and should be submitted on or before January 18, 2008. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 14 14 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-25184 Filed 12-27-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57004; File No. SR-MSRB-2007-06] Self-Regulatory Organizations; Municipal Securities Rulemaking Board; Notice of Filing of Proposed Rule Change Relating to an Amendment to the Municipal Securities Information Library® System To Establish a Pilot System for Consolidated Dissemination of Disclosure Documents and Related Information Through an Internet-Based Public Access Portal December 20, 2007. 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 November 15, 2007, the Municipal Securities Rulemaking Board (“MSRB” or “Board”) filed with the Securities and Exchange Commission (“Commission” or “SEC”) the proposed rule change as described in Items I, II, and III below, which Items have been substantially prepared by the MSRB. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The MSRB is filing with the Commission a proposed rule change establishing a pilot system for the consolidated dissemination, through an Internet-based public access portal, of disclosure documents and related information received by the MSRB through its existing facilities (the “pilot portal”). The proposed rule change consists of an amendment to the MSRB's existing Official Statement and Advance Refunding Document (OS/ARD) system of the Municipal Securities Information Library® (“MSIL”®) system, 3 under which the pilot portal would be established and operated pending establishment of a permanent Internet-based public access system (the “permanent system”). The MSRB expects the pilot portal to become operational on the later of March 10, 2008 or 5 business days after SEC approval. The MSRB requests approval of the pilot portal for a period of one year from the date it becomes operational, subject to earlier termination upon completion of the transition to the permanent system. The text of the proposed rule change is available on the MSRB's Web site *(http://www.msrb.org)* , at the MSRB's principal office, and at the Commission's Public Reference Room. 3 Municipal Securities Information Library and MSIL are registered trademarks of the MSRB. The MSIL system's OS/ARD system was initially approved by the Commission in 1991 and amended in 2001 to establish the current optional electronic submission system. *See* Securities Exchange Act Release No. 29298 (June 13, 1991), 56 FR 28194 (June 19, 1991) (File No. SR-MSRB-1990-2); Securities Exchange Act Release No. 44458 (June 20, 2001), 66 FR 34495 (June 28, 2001) (File No. SR-MSRB-2001-03). 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 MSRB 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 MSRB 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 Rule G-36 requires that a broker, dealer or municipal securities dealer (a “dealer”) that acts as managing or sole underwriter for most primary offerings of municipal securities send the official statement (“OS”) and Form G-36(OS) to the MSIL system. In addition, if the offering is an advance refunding and an escrow deposit agreement or other advance refunding document (“ARD”) has been prepared, the ARD and Form G-36(ARD) also must be sent to the MSIL system by the managing or sole underwriter. OSs and ARDs collected by the MSIL system currently are made available in paper form, subject to copying charges, at the MSRB's public access facility in Alexandria, Virginia, and electronically by paid subscription on a daily over-night basis and by purchase of annual back-log collections. The proposed rule change will establish, on a pilot basis, an Internet-based public access portal (the “pilot portal”) to provide free access to OSs and ARDs received by the MSRB under Rule G-36. Copies of all such OSs and ARDs received by the MSRB on or after implementation of the pilot portal will be made available to the public as portable document format
(PDF)files for viewing, printing and downloading at the pilot portal promptly after acceptance and processing, and will remain publicly available for the life of the municipal securities through the pilot portal or the permanent system. The pilot portal will provide on-line search functions utilizing the MSIL system computer index to ensure that users of the pilot portal are able to readily identify and access documents that relate to specific municipal securities based on a broad range of search parameters. The pilot portal will be designed to provide a user searching for a particular municipal security with a comprehensive display of relevant information concerning such security available from the MSRB's various information systems on a single screen or related set of screens. The pilot portal will provide basic identifying information for the security, direct access to the OS submitted by the underwriter to the MSIL system, price information from the MSRB's Real-Time Transaction Reporting System (“RTRS”) for the most recent trades in such security (as well as historical price information), and, if the security has been advance refunded by a refunding issue, any ARDs submitted by the underwriter to the MSIL system in connection with such advance refunding. The pilot portal will operate for a limited period of time as the MSRB transitions to a permanent integrated system for electronic submissions of all OSs and ARDs to the MSRB and free public access to such documents through a centralized Internet-based portal to be implemented in conjunction with the expected adoption by the MSRB of an “access equals delivery” standard for OS dissemination under Rule G-32, on disclosures in connection with new issues. 4 The functions of the pilot portal, along with other key features of the current MSIL system and additional functional improvements (including but not limited to establishment of real-time subscriptions to the complete document collections processed through the permanent system for re-dissemination or other use by subscribers), will be incorporated into the permanent system. The permanent system is expected to replace the MSIL system once this transition is completed and all critical functions and information stores (including but not limited to the complete OS/ARD back-log collection) of the MSIL system have been transferred to the new permanent system or are able to be handled by other Board processes. 4 Under current Rule G-32, a dealer selling a new issue municipal security to a customer during the period ending 25 days after bond closing must deliver the official statement to the customer on or prior to trade settlement. Under an “access equals delivery” standard, dealers selling most new issue municipal securities would be deemed to have satisfied this basic requirement for delivering OSs to customers by trade settlement since such OSs would be publicly available through the permanent system. The MSRB expects to propose amendments to Rules G-32 and G-36 to adopt an “access equals delivery” standard at a future date through a separate filing with the SEC. Although the MSRB currently operates CDINet, a service of the MSIL system designed to process and disseminate continuing disclosure information and notices of material events submitted to the MSRB under Exchange Act Rule 15c2-12, the MSRB does not anticipate including information received through CDINet in the pilot portal due to the very limited level of submissions of disclosure information received by CDINet from issuers and their agents. 5 The MSRB believes that making the limited collection of secondary market information available in CDINet accessible to the public through the pilot portal would represent a piecemeal approach that would not be beneficial to the public and could potentially be misleading under certain circumstances. In particular, investors would be required to search through various other sources to find secondary market information for the bulk of the outstanding issues for which information is not available through CDINet and, even if some secondary market information for a particular security is available through CDINet, investors would still need to search through the various other sources to ensure that no additional secondary market information about that security has been submitted elsewhere. 5 Exchange Act Rule 15c2-12 currently requires underwriters for most primary offerings of municipal securities to obtain an undertaking by the issuer or obligated person to provide certain types of continuing disclosure information to the marketplace, consisting of material event notices and annual filings of financial information. Annual filings are to be sent to all existing nationally recognized municipal securities information repositories (“NRMSIRs”) and any state information depositories (“SIDs”), while material event notices may be sent either to all existing NRMSIRs or to the MSRB, as well as to any SIDs. The level of submissions of material event notices to the MSRB's CDINet has diminished dramatically since this provision was adopted such that CDINet receives only a small percentage of material event notices currently provided to the marketplace. The Commission has published proposed amendments to Exchange Act Rule 15c2-12 to eliminate the MSRB's limited role in the current secondary market disclosure system due in large measure to the low volume of usage as well as the need for significant upgrades to keep the CDINet operational. *See* Securities Exchange Act Release No. 54863 (December 4, 2006), 71 FR 71109 (December 8, 2006). The MSRB recognizes the substantial benefits to the marketplace that would be realized should the Commission determine to modify the existing secondary market disclosure system under Exchange Act Rule 15c2-12 to provide for a centralized electronic submission and dissemination model. The MSRB stands ready to expand its planned electronic submission system under the permanent system to also serve as the central electronic submission system for free filings of all secondary market disclosure under an amended Rule 15c2-12 and to integrate this complete collection of secondary market disclosure information with the MSRB's OS/ARD collection and RTRS data to provide a free comprehensive centralized public access portal for primary market disclosure information, secondary market disclosure information and transaction price information. 2. Statutory Basis The MSRB believes that the proposed rule change is consistent with section 15B(b)(2)(C) of the Act, 6 which provides that the MSRB's rules shall: 6 15 U.S.C. 78o-4(b)(2)(C). be 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 regulating, clearing, settling, processing information with respect to, and facilitating transactions in municipal securities, to remove impediments to and perfect the mechanism of a free and open market in municipal securities, and, in general, to protect investors and the public interest. The MSRB believes that the proposed rule change is consistent with the Act because the pilot facility will serve as a necessary transitional step toward establishing a permanent system for free and timely public access to OSs and ARDs. Together, the pilot facility and permanent system will remove impediments to and help perfect the mechanisms of a free and open market in municipal securities, assist in preventing fraudulent and manipulative acts and practices, and will in general promote investor protection and the public interest by ensuring equal access for all market participants to the critical disclosure information needed by investors in the municipal securities market. B. Self-Regulatory Organization's Statement on Burden on Competition The MSRB 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 because documents and information provided through the pilot portal and the permanent system will be available to all persons on an equal basis. The MSRB will continue to make the OS/ARD collection available by subscription on an equal basis without imposing restrictions on subscribers from re-disseminating such documents or otherwise offering value-added services and products based on such documents on terms determined by each subscriber. The MSRB believes that any incidental impact of the proposed rule change on commercial enterprises would not create an unequal burden among such enterprises and would be substantially outweighed by the benefits provided by the proposed rule change in removing impediments to and helping to perfect the mechanisms of a free and open market in municipal securities, assisting in the prevention of fraudulent and manipulative acts and practices, and generally promoting investor protection and the public interest. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others Concept Release In a concept release published on July 27, 2006, the MSRB sought comment on whether the establishment of an “access equals delivery” model in the municipal securities market would be appropriate and on the general parameters relating to such a model (the “Concept Release”). 7 The Concept Release described two critical factors that would need to be put into place: all OSs must be available electronically, and such electronic OSs must be easily and freely available to the public. The Concept Release described in general terms certain modifications that could be made to existing MSRB rules to implement the “access equals delivery” model. 7 MSRB Notice 2006-19 (July 27, 2006). With regard to public access to OSs under an “access equals delivery” standard for municipal securities, the Concept Release stated that electronic OSs would need to be made readily available to the investing public, at no cost, for the duration of the applicable new issue disclosure period, at a minimum. The MSRB expressed the belief that investors would be best served if such OSs were made available at a centralized Internet website, although other parties could of course make all or portions of such collection available at other websites or through other means as well. In the alternative, a central directory of such OSs could be maintained, with the actual hosting of the electronic OS occurring by multiple parties (such as issuers, financial advisors, underwriters, information vendors, printers, etc.) that have undertaken to maintain free ready access to such documents throughout the new issue disclosure period. However, the MSRB observed that this second alternative would provide fewer assurances that electronic access to the OSs will in fact be maintained in a uniform manner for the required duration and likely would require third-party monitoring of these decentralized sources. The MSRB also sought comment on whether it should undertake the central access function, or whether other market participants or vendors could undertake such function subject to appropriate supervision. January 2007 Notice In a subsequent notice published on January 25, 2007, the MSRB sought comment on draft amendments to Rules G-32 and G-36 to implement an electronic system for access to primary market disclosure in the municipal securities market (the “January 2007 Notice”). 8 The electronic system would build on the MSIL system to provide through an Internet-based central access facility an assured source for free access to OSs and other related documents and information in connection with all new issue municipal securities to investors, other market participants and the public. Additional public access portals using the document collections from the MSIL system obtained through real-time subscriptions could be established by other entities as parallel sources for OSs and other documents and information. 8 MSRB Notice 2007-5 (January 25, 2007). The MSRB noted in the January 2007 Notice that it would operate a public access portal that would post OSs and other documents and information directly on its centralized website and would make posted information available for free for the life of the securities to investors, other market participants and the general public. The MSRB indicated that multiple entities subscribing to the MSIL system document collection—which will be designed to provide nearly real-time access to documents as they are submitted and processed—could establish separate public access portals designed to make available publicly the basic documents and information provided through such subscription, together with such other documents, information and utilities ( *e.g.* , indicative data, transaction pricing data, secondary market information, analytic tools, etc.) as each such operator shall determine. These separate portals could provide these services on such commercial terms as they deem appropriate. The January 2007 Notice also stated that the MSRB intends to continue offering subscriptions to the MSIL system collection on terms that promote the broad dissemination of disclosure information throughout the marketplace without creating a significant negative impact on the pricing of dissemination services by subscribers. The MSRB hoped that multiple public access portals would provide free continuous access to OSs and other documents throughout the new issue disclosure period and a reasonable limited period of time thereafter and also would provide continuing access beyond the expiration of this period on favorable terms, with due consideration for promoting access by infrequent users ( *e.g.* , retail investors) for free or at greatly reduced rates. The MSRB's goal in promoting the establishment of parallel public access portals would be to provide all market participants with a realistic opportunity to access OSs and other documents and information throughout the life of the securities in a non-cost prohibitive manner while encouraging market-based approaches to meeting the needs of investors and other market participants. SEC's “Access Equals Delivery” Rule The Concept Release and January 2007 Notice noted that the new dissemination system for municipal securities disclosure would be modeled in part on the “access equals delivery” rule for prospectus delivery for registered securities offerings adopted by the SEC in 2005. 9 The MSRB observed that issuers in the registered securities market are required to file registration statements and prospectuses electronically through the SEC's EDGAR (Electronic Data Gathering, Analysis, and Retrieval) system prior to an offering. The EDGAR system then makes electronic versions of filings available to the public at no charge on a “real-time” basis through the SEC's website. As a result, prospectuses for most registered offerings are available free of charge at a centralized site (as well as through other information services, in some cases for a fee) throughout the selling process. The MSRB observed that the SEC's “access equals delivery” standard is premised on, among other things, this immediate free availability of prospectuses and other filings through the EDGAR system and other electronic sources. 9 *See* Securities Act Release No. 8591 (July 19, 2005), 70 FR 44722 (August 3, 2005). The MSRB's draft amendments would incorporate (with modifications adapted to the specific characteristics of the municipal securities market) many of the key “access equals delivery” provisions in Securities Act Rule 172, on delivery of prospectus, Rule 173, on notice of registration, and Rule 174, on delivery of prospectus by dealers and exemptions under Section 4(3) of the Securities Act of 1933, as amended. Discussion of Comments The MSRB received comments on the Concept Release from 29 commentators and on the January 2007 Notice from 12 commentators. 10 Commentators were nearly unanimous in their support of adoption of an “access equals delivery” standard and the establishment of a centralized Internet-based system for dissemination of municipal securities disclosure. 11 After reviewing these comments, the MSRB approved the proposed rule change for filing with the SEC. The comments relating to the dissemination system are discussed below. 12 Document Format. PDF was the preferred OS file format of most commentators responding to the Concept Release. 13 Some commentators suggested that other OS formats also should be accepted, 14 with Wells Fargo emphasizing that PDF is the licensed product of a single software vendor and, although popular, the municipal securities industry should not encourage a situation that may require firms to purchase essential technology from only one vendor. Other commentators stated that the system should have the flexibility to allow new formats that may in the future meet or exceed the current parameters for PDF. 15 RMOA stated that a single format should be prescribed, and other commentators believed that allowing multiple formats could prove problematic. 16 Zions stated that other electronic formats that may require specific formatting, such as hypertext markup language (“html”) or ASCII (American Standard Code for Information Interchange), would be unacceptable. However, ADP noted that there may be benefits to market participants in permitting Extensible Business Reporting Language (“XBRL”) and TRB suggested that PDF does not permit analysis and comparison between different investments. UBS observed that submissions using files that originate electronically yield smaller, better quality files than do scanned files, and that larger scanned files can sometimes cause technological difficulties, particularly for smaller retail customers. UBS suggested that the MSRB and industry remain cognizant of any emerging, widely utilized, non-proprietary, freely available format that would retain the desirable characteristics of PDF documents but create smaller scanned files. 10 The MSRB received comments on the Concept Release from the American Bar Association, Section of State and Local Government; American Government Financial Services Company (“AGFS”); Automated Data Process, Inc.; Bernardi Securities, Inc. (“Bernardi”); Bond Market Association (“BMA”); brokersXpress, LLC (“brokersXpress”); College Savings Plans Network (“CSPN”); Commerce Bancshares, Inc. (“Commerce”); Digital Assurance Certification LLC; DPC DATA Inc. (“DPC”); Edward D. Jones & Co., LP (“Edward Jones”); First Southwest Company (“First Southwest”); Griffin, Kubik, Stephens & Thompson, Inc. (“Griffin Kubik”); Investment Company Institute (“ICI”); J.J.B. Hilliard, W.L. Lyons, Inc. (“Hilliard Lyons”); Morgan Keegan & Company, Inc. (“Morgan Keegan”); Municipal Advisory Council of Texas (“Texas MAC”); National Association of Bond Lawyers (“NABL”); National Federation of Municipal Analysts (“NFMA”); Regional Municipal Operations Association (“RMOA”); Securities Industry Association (“SIA”); Standard & Poor's CUSIP Service Bureau (“S&PCUSIP”); Daniel E. Stone; TRB Associates; UBS Securities LLC (“UBS”); UMB Bank, N.A. (“UMB”); USAA Investment Management Company (“USAA”); Wells Fargo Institutional Brokerage & Sales (“Wells Fargo”); and Zions Bank Public Finance (“Zions”). The MSRB received comments on the January 2007 Notice from American Municipal Securities, Inc. (“AMS”); Bear, Stearns & Co., Inc. (“Bear Stearns”); Bernardi; CSPN; DPC; Griffin Kubik; Ipreo Holdings LLC (“Ipreo”); NABL; Securities Industry and Financial Markets Association (“SIFMA”); Merry Jane Tissier; UMB; and Wulff, Hansen & Co. (“Wulff”). 11 AGFS, AMS, Bear Stearns, Bernardi, BMA, brokersXpress, CSPN, Commerce, DPC, Edward Jones, First Southwest, Griffin Kubik, Hilliard Lyons, ICI, Ipreo, Morgan Keegan, Texas MAC, NABL, NFMA, RMOA, SIA, SIFMA, S&P CUSIP, UBS, UMB, USAA, Wells Fargo, Wulff, Zions. Although DPC supported the concept of electronic access to OSs, it expressed concerns regarding several basic concepts discussed in the January 2007 Notice, as discussed below. A number of these commentators ( *e.g.* , ADP, AGFS, BMA, CSPN, Griffin Kubik, ICI, Hilliard Lyons, RMOA, SIA), as well as Mr. Stone and Ms. Tissier, made specific suggestions on details relating to the manner of implementing the “access equals delivery” standard. *See* footnote 12 *infra* . While supporting a central dissemination system for OSs, TRB stated that it was unclear whether the proposal would make any improvement on what it viewed as most important—the availability of current information on all municipal bonds on an ongoing basis. 12 Comments relating to the draft amendments to Rules G-32 and G-36 that would institute an “access equals delivery” standard to replace the current physical delivery paradigm will be addressed in the MSRB's expected rule filing relating to such amendments. 13 Bernardi, BMA, brokersXpress, CSPN, Commerce, DPC, Edward Jones, Griffin Kubik, Hilliard Lyons, Morgan Keegan, Texas MAC, NABL, SIA, UBS, UMB, Wells Fargo, Zions. 14 Bernardi, Wells Fargo. 15 BMA, Edward Jones, Griffin Kubik, SIA, Texas MAC, UBS, Zions. 16 DPC, NABL, UBS, Zions. The January 2007 Notice indicated that PDF would be the acceptable document format, although the system would retain flexibility to permit other appropriate file formats as they are developed and become available for general public use. SIFMA, AMS, DPC, Ipreo and NABL generally agreed with this approach. With regard to formats other than PDF that may be developed in the future, NABL suggested the following as basic parameters before permitting such format to be used for OSs:
(i)software to read files should be free, user-friendly and readily available;
(ii)software should protect the integrity of files; and
(iii)consumers should be familiar with the format before adoption. 17 17 DPC suggested that required data elements accompanying documents be captured in formatted fields and that such data be parsed automatically into extensible markup language
(XML)for distribution. The current electronic submission process in the MSIL system provides an option for XML uploads of such data and the MSRB expects to continue providing this or similar capabilities in the new system. In addition, the MSRB supports the SEC's Interactive Data and XBRL Initiatives for registered offerings. Although the MSRB will initially accept documents into the pilot portal solely as PDF files and will not be in a position to accept documents or data in XBRL format upon initial launch of the pilot portal or the permanent system, the MSRB will seek to explore with other industry participants the possibility of incorporating into the permanent system at a later date an option to make submissions using XBRL. Duration of Availability of OSs On-Line and Impact on Commercial Vendors Most commentators stated that OSs should remain publicly available for the life of the securities. 18 Some commentators noted that, although financial and operating information in OSs quickly becomes stale, many portions of the OS remain useful throughout the life of a bond issue. 19 BMA stated that the financial and operating information included in the OS serve as valuable points of reference when reviewing secondary market financial and operating information provided to NRMSIRs pursuant to Rule 15c2-12. 20 UBS suggested that appropriate disclaimers be used with respect to the potential staleness of information beyond the current new issue disclosure period. RMOA stated that OSs could be made available for free during the 25 day new issue disclosure period and a fee could be charged for access after that period. 18 Bernardi, BMA, Griffin Kubik, Morgan Keegan, NABL, NFMA, RMOA, SIA, Texas MAC, UBS, UMB, Wells Fargo, Zions. 19 BMA, Griffin Kubik, NFMA, RMOA, SIA, Texas MAC, UBS. 20 Griffin Kubik, SIA and UBS agreed. Other commentators stated that making the OSs available solely for the current 25 day new issue disclosure period would be sufficient, 21 with DPC stating that maintaining public access beyond this 25-day period would impair the economic interests of information vendors that currently make OSs available on a commercial basis and would ultimately negatively impact the marketplace. 22 DPC stated that, although OSs may be made available for free to those accessing them through a public access portal, there will be a cost to the dealer community to subsidize the dissemination system's development and operation. DPC further noted that having the industry subsidize the cost “appears to be more biased and unfair than recovering the costs from the users of the system based on usage.” 21 brokersXpress, Commerce, DPC, First Southwest. 22 DPC argued that some aspects of the system's operations as proposed “could be construed as interfering with standard commercial processes of private businesses.” DPC viewed the MSRB's proposal in the January 2007 Notice that customer notices provide a specific URL for the OS as “prejudicial to the economic interests of existing vendors whose delivery services required that the definitive PDF file be archived on their web sites for public access.” DPC also did not approve of the proposal in the January 2007 Notice to the effect that a public access portal referred to in the customer notice would need to provide free OS access to customers for a limited period of time after issuance of the securities, although the January 2007 Notice made clear that private portal operators could provide value-added services, as well as access to OSs after the initial free period, on such commercial terms as they deem appropriate. Concerns regarding the potential impact on existing commercial interests of the amendments necessary to institute the “access equals delivery” standard will be addressed in the MSRB's expected rule filing relating to such amendments. *See* footnote 12 *supra* . The MSRB agrees that there is significant value to maintaining OSs available for the life of the securities and therefore will make OSs available through the pilot portal and the permanent system until the maturity of the securities. The MSRB also agrees with the approach taken by the SEC in the registered securities market of providing such access to disclosure at no charge to the public. The MSRB believes that a free flow of basic disclosure information to all market participants on an equal basis is essential to pursuing one of the MSRB's congressionally mandated core functions of removing impediments to and perfecting a free and open market in municipal securities. By making these basic disclosure documents—most of which exist and are available to commercial enterprises solely by virtue of the mandates set forth by the SEC in its Rule 15c2-12—also available to the general public for free, the MSRB does not in any way inhibit the free market in value-added services based on such documents. *OS Amendments and POSs.* BMA noted that investors should be informed of any amendments to an OS available on the system, and BMA and AGFS suggested the possibility of highlighting changes made in such amendments. BMA and DPC emphasized the importance of tracking and properly linking amendments and the original OSs to which they relate. Some commentators suggested preliminary official statements (“POSs”) should also be made available electronically through the system. 23 DPC suggested that the MSRB explore making the submission of all POSs mandatory, while SIFMA, AMS and NABL emphasized that POS submissions should not be made mandatory. SIFMA and DPC noted the importance of ensuring version control where both POSs and OSs are made available (as well as in handling “stickers” to OSs), suggesting that the MSRB include a mechanism for notification to the public when the final OS is posted in cases where a POS has previously been submitted. DPC suggested that POSs be deleted when final OSs are submitted, while NABL suggested that underwriters be permitted to request that the POS be removed from the system once the “timeliness of a POS has ended,” noting that its continued availability may confuse investors. However, SIFMA opposed the removal of the POS. 23 AMS, Bear Stearns, DPC, Griffin Kubik, Ipreo, NABL, SIFMA, TRB, UMB, Zions. The MSRB will continue to receive and will post all amendments to OSs, with such amendments properly linked to the original OS. The MSRB also intends to make POSs voluntarily submitted available on the permanent system, but POSs are not expected to be available on the pilot portal. Once POSs become part of the permanent system, the MSRB expects to provide a feature that would alert investors who have accessed an earlier version to be alerted of the posting of updated information, such as where an OS is posted after an initial posting of a POS or where a posted OS is subsequently stickered. *Secondary Market Disclosure.* Some commentators stated that secondary market disclosures should be made available on the same platform as OSs. 24 ICI stated that the “access equals delivery” system should disseminate OSs to the NRMSIRs so that investors can view OSs and secondary market disclosures at a single source. 24 BMA, RMOA, Texas MAC, TRB, UBS. As noted above, the MSRB stands ready to expand its planned electronic submission system under the permanent system to also serve as the central electronic submission system for free filings of all secondary market disclosure under an amended Rule 15c2-12 and to integrate this complete collection of secondary market disclosure information with the MSRB's OS/ARD collection and RTRS data to provide a free comprehensive centralized public access portal for primary market disclosure information, secondary market disclosure information and transaction price information, should the SEC determine to pursue such option. *Basic Identifying Information and Search Function.* Some commentators suggested that the information submitted on Form G-36(OS) should be made available to the public. 25 UBS noted that Form G-36 data should be used to develop a flexible indexing system, perhaps using XML, to allow for searches on a broad range of fields. NFMA also emphasized the importance of the search function. TRB stated that a cover sheet including primary information such as issuer, CUSIP numbers, security, maturity dates, ratings, callability, etc. is needed. TRB believed that the task of creating a data base from such information that is available to investors would be the most significant contribution that could be made by the MSRB to the municipal marketplace. 25 BMA, RMOA, TRB. As noted above, the MSRB will use its MSIL indexing data to provide appropriate identifying information on the pilot portal and to develop a robust search function to facilitate quickly finding the appropriate document on the system. *Method of Posting Documents.* Nearly all commentators stated that the central access facility should post OSs directly on a central website, rather than serving as a directory of links to OSs posted by underwriters, issuers, financial advisors, printers or others at other sites. 26 Some commentators noted that a decentralized system with a central hyperlinked directory could be problematic with regard to ensuring continuous access, uniformity of handling and ease of use. 27 Morgan Keegan stated that a decentralized model could be acceptable if access and data input requirements are uniformly applied to all vendors, but that long-term free access would be problematic. TRB stated that it would be more effective to link the MSRB website to the appropriate posting site for each OS, with the MSRB monitoring and/or restricting these posting sites, “just as it does for the NRMSIRs.” CSPN noted that it viewed its own centralized web-based disclosure utility for the 529 college savings plan market as the appropriate central access facility for that market. 26 Bernardi, BMA, brokersXpress, Commerce, DPC, First Southwest, Griffin Kubik, Hilliard Lyons, ICI, Morgan Keegan, NABL, NFMA, RMOA, SIA, Texas MAC, UBS, Wells Fargo, Zions. 27 BMA, brokersXpress, DPC, Griffin Kubik, ICI, NFMA, SIA, UBS, Zions. As noted above, the MSRB will post OSs and related items directly on its central access portal, rather than merely posting hyperlinks to other sources. *Operation of Public Access Sites.* AMS and UMB generally supported a single central access portal, while SIFMA, DPC, Ipreo, and NABL prefered that OSs be made available from multiple sources. Many commentators felt that the MSRB could operate the central access facility, 28 with several indicating that the MSRB is their first choice to do so. 29 Many commentators suggested that the central access facility also could be operated by an outside contractor with oversight by the MSRB pursuant to contract. 30 Wells Fargo stated that the MSRB should investigate a centralization function that will not unequally empower a single data vendor. Several private sector organizations expressed interest in their comment letters in participating in the proposed electronic dissemination system. 31 NABL stated that proposed approaches by market participants and others will need careful consideration to determine the optimal choice for the municipal securities market, and RMOA stated that vendors offering their services would need to insure the industry that they would accept oversight by established regulatory authorities and would be subject to penalties for non-performance. UBS stated that, if an entity other than the MSRB operates the central access facility, the MSIL system's existing OS/ARD library and full database would need to be made available to such entity. Several commentators emphasized that, in deciding which entity should operate the central access facility, cost should be an important factor, including which parties should bear such costs. 32 28 Bernardi, BMA, Commerce, First Southwest, Griffin Kubik, Hilliard Lyons Morgan Keegan, NFMA, RMOA, SIA, UBS, Zions. 29 Bernardi, Commerce, Hilliard, Lyons, Morgan Keegan, RMOA, UBS, Zions. Morgan Keegan noted that the industry has already paid to establish the MSIL system and that the additional expense can be covered at the MSRB's discretion. 30 BMA, First Southwest, Griffin Kubik, NMFA, RMOA, SIA, Texas MAC, UBS. 31 ADP, DPC, S&P CUSIP and Texas MAC. 32 BMA, Griffen Kubik, SIA, UBS. Although the MSRB has determined to establish the pilot portal and expects to transition such pilot portal to the permanent system, the MSRB's public access portal need not operate as the sole public access facility. Rather, multiple entities that subscribe to the MSIL system document collection—which will be designed to provide nearly real-time access to documents—could establish separate access portals to make available publicly the basic documents and information provided through the MSIL system subscription, together with such other documents, information and utilities ( *e.g.* , indicative data, transaction pricing data, secondary market information, analytic tools, etc.) as each operator determines. These separate public access portals could provide these services on commercial terms. The MSRB would hope that multiple public access portals would provide free continuous access to OSs for a defined period after initial issuance and continuing access beyond this period on favorable terms, with due consideration for promoting access by infrequent users ( *e.g.* , retail investors) for free or at greatly reduced rates. The MSRB's goal in promoting the establishment of parallel public access portals is to provide market participants with an effective opportunity to access OSs throughout the life of the securities in a non-cost prohibitive manner while encouraging market-based approaches to meeting the needs of investors and other participants in the municipal securities market. 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 the self-regulatory organization 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 *rule-comments@sec.gov.* Please include File Number SR-MSRB-2007-06 on the subject line. Paper Comments: • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090. All submissions should refer to File Number SR--MSRB-2007-06. 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 MSRB. 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-MSRB-2007-06 and should be submitted on or before January 18, 2008 For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 33 33 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-25186 Filed 12-27-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57000; File No. SR-NYSE-2007-101] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of a Proposed Amendment to NYSE Rule 104.21 (“Specialist Organizations—Additional Capital Requirements”) December 20, 2007. Pursuant to section 19(b)(1) 1 of the Securities Exchange Act of 1934 (the “Exchange Act”), 2 and Rule 19b-4 thereunder, 3 notice is hereby given that on November 2, 2007, the New York Stock Exchange LLC (“NYSE” or the “Exchange”) filed with the Securities and Exchange Commission (“SEC” or the “Commission”) the proposed rule change as described in Items I, II, and III below, which items have been substantially prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule changes from interested persons. 1 15 U.S.C. 78s(b)(1). 2 15 U.S.C. 78(a) et seq. 3 17 CFR 240.19b-4. I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The New York Stock Exchange LLC (“NYSE” or “Exchange”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to amend NYSE Rule 104.21 (“Specialist Organizations—Additional Capital Requirements”), which would reduce the net liquid asset requirements for specialist member organizations. The text of the proposed rule change is set forth below. Proposed new language is italicized; brackets indicate deletions. Rule 104. Dealings by Specialists (a)-(b)—No Change. * * * Supplementary Material: Functions of Specialists .10 through .20—No Change. *.* 21 Specialist Organizations—Additional Capital Requirements.—
(1)Each specialist organization subject to Rule 104.21 must maintain minimum net liquid assets equal to:
(i)[$1,000,000] *$250,000* for each one tenth of one percent (.1%) of Exchange transaction dollar volume in its registered securities, exclusive of Exchange Traded Funds, plus $500,000 for each Exchange Traded Fund; and * * * Remainder of Rule—No Change 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. 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 Background Specialist member organizations must maintain net liquid assets as required by NYSE Rule 104, and in addition, must satisfy the net capital requirements prescribed in Rule 15c3-1, 4 promulgated under the Securities Exchange Act of 1934 (the “Exchange Act”). 5 NYSE Rule 325 requires members and member organizations to comply with Exchange Act Rule 15c3-1 and also requires notification to the Exchange whenever tentative net capital has declined below defined levels. In addition, Rule 325 gives the Exchange the authority, at any time, to prescribe greater net capital or net worth requirements than those explicitly prescribed by the rule, or to require more stringent treatment of items when computing net capital, net worth and, by implication, net liquid assets. Further, the NYSE can restrict the business activities of specialist organizations consistent with good business practices and its obligation to maintain a fair and orderly market. Such restrictions may include prohibitions against business expansion and business reduction requirements. 4 17 CFR 240.15c3-1. 5 15 U.S.C. 78a *et seq.* The term “net liquid assets” refers to liquidity, in the form of cash and cash equivalents, that is immediately available (within twenty four hours) to a specialist organization for the continuing purchase and sale of securities in which a specialist is registered, in support of the specialist book, and market maintenance. It is a shorter-term form of liquidity that is meant to be available to the specialist organization to facilitate the performance of its affirmative duty to maintain a fair and orderly market on the Exchange. In addition, it is important for all specialist organizations and market participants to know that specialists have sufficient liquidity to support the specialist book and market maintenance activities. Specialist member organizations' unique liquidity needs dictate the general form of the net liquid asset requirement. Therefore, a specialist organization's net liquid asset requirement functions to ensure that the specialist is able to continue operations; whereas a broker-dealer's net capital requirement functions to ensure that, if the broker-dealer were liquidated, the broker-dealer's obligations to its customers and creditors would be satisfied. On July 25, 2006, the SEC approved amendments to NYSE Rule 104 (“Dealings by Specialists”) to change the net liquid asset requirement for specialist member organizations. 6 The amendments restructured the net liquid asset requirement for specialist organizations from an approach based on valuation of classes of allocated securities (“concentration measures”), which included penalties for mergers among specialists, to an approach based on specialist market share that is measured by total dollar volume traded combined with market stress and volatility risk analysis. 6 *See* Release No. 34-54205 (July 25, 2006); 71 FR 43260 (July 31, 2006) File No. SR-NYSE-2005-38) (approving amendments to NYSE Rules 104 and 123E (“Specialist Combination Review Policy”) which change the capital requirements of specialist organizations). *See* also NYSE Information Memo 06-56 (August 2, 2006). Pursuant to the 2006 amendments, NYSE Rule 104.21 (“Specialist Organizations—Additional Capital Requirements”) currently requires, in part, that each specialist organization subject to the provision maintain minimum net liquid assets equal to $1,000,000 for each one tenth of one percent (.1%) of the Exchange transaction dollar volume in its registered securities, exclusive of Exchange Traded Funds, plus $500,000 for each Exchange Traded Fund, in addition to the market risk add-on under Rule 104.21(2). Additionally, the filing noted that, as a result of the changes to the structure of the marketplace, NYSE would be assessing market risks annually to determine the continuing adequacy of the net liquid asset requirements. Proposed Rule Change The proposed rule change would reduce the total base capital requirement that must be maintained as net liquid assets for all specialists from $1 billion to $250 million. NYSE believes this amount will adequately protect specialist organizations during periods of market stress. Further, each of the specialist organizations have sources of funding that will provide necessary liquidity during a period of market stress. It is no longer necessary for this liquidity to be maintained as capital, as specialist positions and the likelihood of losses have been reduced dramatically due to changes in the structure of the market. Analysis The role of specialists has changed significantly as increased electronic trading and the Exchange's “Hybrid Market” 7 have contributed to lower participation by, and therefore less risk being assumed by, specialist organizations. In light of the reduced participation, NYSE is proposing a reduction in the minimum net liquid asset requirement under Rule 104.21(1) for specialist organizations. 7 *See* Release No. 34-53539 (March 22, 2006); 71 FR 16353 (March 31, 2006) File No. SR-NYSE-2004-05) (approving amendments to NYSE Rules (approving the proposed rule change to establish the NYSE Hybrid Market). The rule change created a “Hybrid Market” by, among other things, increasing the availability of automatic executions in its existing automatic execution facility, NYSE Direct+, and providing a means for participation in the expanded automated market by its floor members. The change altered the way NYSE's market operates by allowing more orders to be executed directly in Direct+, which in essence moves NYSE from a floor-based auction market with limited automation order interaction to a more automated market with limited floor-based auction market availability. The proposed net liquid asset reduction for specialist organizations is consistent with the current dealer position levels, the profitability results during the volatile periods of July and August 2007, as well as specialist participation statistics. FINRA, on behalf of the Exchange, undertook an assessment for the periods of:
(1)July 2, 2007 through August 17, 2007, selected due to the volatility in the marketplace during this period; and
(2)February 27, 2007, when the Dow Jones Industrial Averages, DJIA, declined by 416.02 points to test levels of specialist trading on the Exchange. The assessment focused on position levels, daily dealer account profit and loss, and market volatility. In addition, FINRA compared participation by equity specialists in trading on the Exchange pre and post Hybrid Market. • Generally, during periods of volatility there were no material net losses by specialists. Also, there were no material drops in specialist Net Liquid Assets during these periods. • The participation by specialist firms in trading on the Exchange has declined along with the proliferation of electronic trading and the significant change in the Exchange's trading system introduced by the Hybrid Market. The increased efficiency with which others can access the Exchange's market has increased liquidity and decreased the market's reliance on the specialist to provide the contra side in our continuous auction. While the NYSE considers specialist participation to still be an important feature of its Hybrid Market, that participation can be and is at a significantly lower level. For example, specialists participated in 15.1% of all shares bought and sold on the Exchange in August 2002, but consistent with the evolution of trading styles and our market model, the participation rate dropped to 8.5% in November 2005, and to approximately 3.9% today. • Pro-forma daily net liquid asset positions with the proposed requirement for the week ending September 14, 2007 were prepared using actual computations submitted by each of the seven equity specialist firms. 8 The first summary of calculations reflects the $1 billion requirement, whereas, the second set of calculations reflects the proposed $250 million requirement. Each of the calculations includes a market risk add on amounting to three times the average of the twenty prior business days securities haircuts on its specialist dealer positions computed pursuant to SEA Rule 15c3-1(c)(2)(vi) exclusive of paragraph
(N)or three times VaR, if approved to calculate under this methodology: 8 Effective at the close of business on November 30, 2007, one equity specialist firm resigned from the NYSE and its stocks will be reassigned to one of the six remaining firms. Further consolidation and/or reallocation of specialist books is possible in the future. Aggregate Specialist Data Current Requirement: $1 Billion Plus Market Risk Add-Ons [000 Omitted] Trade date LMV SMV NLA NLA required Excess NLA 9/10/2007> $183,841 $49,955 $1,380,063 $1,117,106 $262,957 9/11/2007> 122,939 128,276 1,381,871 1,112,180 269,692 9/12/2007> 162,047 121,583 1,379,123 1,109,360 269,763 9/13/2007> 148,012 181,734 1,378,222 1,108,381 269,841 9/14/2007> 135,832 164,699 1,378,537 1,106,220 272,317 Aggregate Specialist Data Pro-Forma Requirement: $250 Million Plus Market Risk Add-Ons [000 Omitted] Trade date LMV SMV NLA Proposed NLA required Proposed excess NLA 9/10/2007> $183,841 $49,955 $1,380,063 $367,106 $1,012,957 9/11/2007> 122,939 128,276 1,381,871 362,180 1,019,692 9/12/2007> 162,047 121,583 1,379,123 359,360 1,019,763 9/13/2007> 148,012 181,734 1,378,222 358,381 1,019,841 9/14/2007> 135,832 164,699 1,378,537 356,220 1,022,317 Based on the foregoing assessment, the proposed amendments would require a specialist organization to meet, with its own assets, a net liquid asset requirement equal to $250,000 for each one tenth of one percent (.1%) of the Exchange transaction dollar volume in its registered securities, exclusive of Exchange Traded Funds, plus $500,000 for each Exchange Traded Fund, in addition to the market risk add-on under Rule 104.21(2), amounting to three times the average of the prior twenty business days securities haircut on its specialist dealer positions computed pursuant to SEA Rule 15c3-1(2)(vi) exclusive of paragraph
(N)or three times VaR, if approved to calculate under this methodology. Finally, the proposal takes into consideration the circuit breakers in effect to prevent a market freefall included in NYSE Rule 80B. NYSE Rule 80B provides for trading halts that are triggered when the DJIA declines below its closing value on the previous trading day by: 10% (level 1), 20% (level 2), and 30% (level 3). At level 3, trading shall halt and not resume for the rest of the day. The intent of the halts is to allow buyers and sellers an opportunity to regroup and objectively assess the marketplace. FINRA, on behalf of NYSE, will continue to assess the specialists' net liquid asset requirements in relationship to the Hybrid Market and monitor their net liquid assets on a daily basis. NYSE and FINRA require notification for all withdrawals of capital, and approval for any withdrawal being made on less than six months advance notice to the Exchange.
(2)Statutory Basis The statutory basis for the proposed rule change is section 6(b)(5) of the Exchange Act 9 which requires, among other things, that the rules of the Exchange are 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 regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities, to remove impediments to perfect the mechanism of a free and open market and national market system, and in general to protect investors and the public interest. The Exchange believes that the proposed rule change will reduce the burden on specialist member organizations to maintain net liquidity while still ensuring adequate protection of specialist organizations during periods of market stress. Each of the specialist organizations have sources of funding that will provide necessary liquidity during a period of market stress and thus, it is no longer necessary for this liquidity to be maintained as capital, as specialist positions and the likelihood of losses have been reduced dramatically due to changes in the structure of the market. 9 15 U.S.C. 78f(b)(5). 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 not necessary or appropriate in furtherance of the purposes of the Exchange Act. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others The Exchange has neither solicited nor received written comments on 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 the Exchange 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 *rule-comments@sec.gov.* Please include File Number SR-NYSE-2007-101 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-NYSE-2007-101. 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 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-2007-101 and should be submitted on or before January 18, 2008. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 10 10 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-25183 Filed 12-27-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57003; File No. SR-NYSE-2007-112] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Rule 15 (ITS and Pre-Opening Applications) December 20, 2007. 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 14, 2007, the New York Stock Exchange LLC (“NYSE” or “Exchange”) filed with the Securities and Exchange Commission (“Commission”) the proposed rule change as described in Items I and II below, which Items have been prepared substantially by NYSE. NYSE filed the proposed rule change pursuant to Section 19(b)(3)(A) of the Act 3 and Rule 19b-4(f)(6) thereunder, 4 which renders it effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. 3 15 U.S.C. 78s(b)(3)(A). 4 17 CFR 240.19b-4(f)(6). I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend NYSE Rule 15 (Intermarket Trading System Plan and Pre-Opening Applications) to create the procedures for publishing pre-opening price information. The text of the proposed rule change is available at *http://www.nyse.com* , the Exchange, and 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. NYSE 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 Exchange proposes to amend Rule 15 to create procedures for the dissemination of pre-opening price information in view of the elimination of the requirement to publish the same pursuant to the Intermarket Trading System (“ITS”) Plan. From 1978 until its elimination in March 2007, the Exchange routed orders (as commitments to trade) to other market centers and received them through ITS. ITS facilitated trades between members located in different markets. Through ITS, a member in any participating market could send orders, as commitments to trade, at the bid or offer on any other participating market. The ITS Plan was administered by the participating markets, and was filed with and approved by the Commission. In 2006, the Commission approved a national market system plan (“Linkage Plan”), which became effective on October 1, 2006. 5 The purpose of the Linkage Plan was to enable the plan participants to act jointly in planning, developing, operating and regulating the NMS Linkage System that was to electronically link the Participant Markets to one another. The Linkage Plan ran concurrently with the ITS Plan until March 5, 2007, at which time the ITS Plan terminated and SEC Rule 611 (the Order Protection Rule) of Regulation National Market System (“Reg. NMS”), 6 became operative. The Linkage Plan terminated on June 30, 2007. 5 *See* Securities Exchange Release No. 54551 (September 29, 2006), 71 FR 59148 (October 6, 2006). 6 *See* Securities Exchange Act Release No. 51808 (June 9, 2005), 70 FR 37496 (June 29, 2005). The ITS Plan required each market center to have procedures that governed the dissemination of pre-opening price information and also provided a model rule. The model rule is encompassed in Rule 15 (the “Pre-Opening Application”). According to Rule 15, there are two instances where the Pre-Opening Application applies:
(a)“whenever a market maker in any Participant Market, in arranging an opening transaction in his market in a System security, anticipates that the opening transaction will be at a price that represents a change from the security's previous day's consolidated closing price at more than the `applicable price change' ”; and,
(b)“whenever an `indication of interest' (i.e., an anticipated opening price range) is sent to the CTA Plan Processor as required or permitted by the CTA Plan or a Participant market's rules prior to the opening of trading in a System security or prior to the reopening of trading in a System security prior to the reopening of trading in a security following a Trading Halt.” The Linkage Plan Pre-Opening provision suspended the operation of the relevant ITS Plan requirements and much of NYSE's Rule 15. While the specialist was still required to send out an indication when he would open a specialty security at a price that represented a change from the previous days consolidated closing price of more than the “applicable price change,” he or she was no longer required to adhere to any other relevant requirements of the ITS Plan or Rule 15. For example, in contrast to the ITS Plan, the Linkage Plan contained no prohibition against the specialist disseminating a pre-opening price range that straddled the previous day's consolidated closing price. Further, the ITS Plan and Rule 15 required the specialist, after disseminating a pre-opening notification, to delay the opening of the subject security until at least three minutes had passed from the time of the pre-opening notification. The Linkage Plan did not provide a defined time standard by which a specialist must delay the opening after issuance of a pre-opening notification. The Linkage Plan did not require a specialist to disseminate subsequent pre-opening information. With the elimination of the ITS Plan and the Linkage Plan, specialists were no longer required to disseminate ITS pre-opening indications at all. The specialists continue to provide this type of information orally to market participants as a part of the performance of their affirmative obligations which require that they provide accurate and timely market information to all inquiring market participants on the Floor upon request. However, customers and market participants informed Exchange management that they found the information the specialists provided pursuant to their obligations under the ITS Plan and the Linkage Plan useful. In response to customer and market participant requests, the Exchange proposes to amend Rule 15 to re-establish procedures for the publication of pre-opening price information, according to the framework established by the Linkage Plan requirement. This proposed rule change requires no modification of the specialists' proprietary systems. With the re-institution of these procedures, the specialists will now resume using the pre-opening indication template on the NYSE Display Book® to disseminate pre-opening price information to all market participants through Exchange systems. The proposed rule text states that the specialist shall publish a pre-opening price indication whenever the specialist, in arranging the opening transaction in a subject security, anticipates that the price of the opening transaction will be at a price which is different from the previous day's consolidated closing price by more than the “applicable price change.” The pre-opening price indication will include the security and the price range within which the specialist anticipates the opening transaction will occur. Rule 15 as amended will be entitled “Pre-Opening Indications.” The price change parameters under the proposed rule have been broadened to more accurately address the current volatility of today's markets. The “applicable price change” will be $0.50 where the consolidated closing price of a subject security on the Exchange is under $100 and $1.00 where the consolidated closing price of a subject security on the Exchange is equal to or greater than $100. 2. Statutory Basis The Exchange believes that its proposal is consistent with Section 6(b) of the Act 7 in general, and furthers the objectives of Section 6(b)(5) of the Act 8 in particular, in that it is 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. 7 15 U.S.C. 78f(b). 8 15 U.S.C. 78f(b)(5). 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 The Exchange has neither solicited nor received written comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not:
(i)Significantly affect the protection of investors or the public interest;
(ii)Impose any significant burden on competition; and
(iii)Become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, if consistent with the protection of investors and public interest, it has become effective pursuant to Section 19(b)(3)(A) of the Act 9 and Rule 19b-4(f)(6) thereunder. 10 9 15 U.S.C. 78s(b)(3)(A). 10 17 CFR 240.19b-4(f)(6). Normally, a proposed rule change filed under 19b-4(f)(6) may not become operative prior to 30 days after the date of filing. However, Rule 19b-4(f)(6)(iii) 11 permits the Commission to designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has requested that the Commission waive the 30-day operative delay set forth in Rule 19b-4(f)(6)(iii) under the Act. 12 The Commission believes that the earlier operative date is consistent with the protection of investors and the public interest because the proposed rule change permits the Exchange to implement without further delay a proposal that re-establishes procedures for the publication of pre-opening price information, according to the framework established by the Linkage Plan requirement; furthermore, the proposed rule change requires no modification of the specialists' proprietary systems. For these reasons, the Commission designates the proposal to be operative upon filing with the Commission. 13 11 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii) requires that a self-regulatory organization submit to 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 Commission notes that NYSE has satisfied the five-day pre-filing notice requirement. 12 17 CFR 240.19b-4(f)(6)(iii). 13 For purposes only of waiving the 30-day operative delay of this proposal, the Commission has considered the proposed rule's impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). 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 • Send an e-mail to *rule-comments@sec.gov.* Please include File Number SR-NYSE-2007-112 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-NYSE-2007-112. 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 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-2007-112 and should be submitted on or before January 18, 2008. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 14 14 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-25185 Filed 12-27-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57006; File No. SR-NYSE-2007-116] Self-Regulatory Organizations; New York Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change by the New York Stock Exchange LLC Relating to NYSE Rule 300 (Trading Licenses) December 20, 2007. 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 18, 2007, the New York Stock Exchange, Inc. (“NYSE” or “Exchange”) filed with the Securities and Exchange Commission (“Commission”) the proposed rule changes as described in Items I, II, and III below, which items have been substantially prepared by the NYSE. NYSE has designated the proposed rule change as one establishing or changing a due, fee, or other charge, pursuant to Section 19b(3)(A)(ii) of the Act 3 and Rule 19b-4(f)(2) thereunder, 4 which renders the proposal effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. 3 15 U.S.C. 78s(b)(3)(A)(ii). 4 17 CFR 240.19b-4(f)(2). I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange is proposing to:
(i)amend NYSE Rule 300 (Trading Licenses) to charge an annualized rate of $40,000 per trading license purchased during the annual offering; and
(ii)reinstate the fee related to the approval of a pre-qualified substitute employee. The text of the proposed rule change is available on the Exchange's Web site ( *http://www.nyse.com* ), at the Exchange's Office of the Secretary, 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 NYSE 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 Through this filing, the Exchange seeks to amend section
(b)of NYSE Rule 300 to charge a fixed price of $40,000 for each trading license purchased in the annual offering for the following calendar year and make conforming changes to section
(d)of the rule which pertains to trading licenses purchased after the annual offering. The Exchange further proposes to create subsection (b)(i) to NYSE Rule 300 to provide that a member organization that wishes to maintain for the following calendar year the same number of trading licenses that they currently hold will be charged the fixed price of $40,000 per trading license by the Exchange. Additionally, the Exchange proposes to reinstate the fee related to the approval of a pre-qualified substitute employee. Currently, section
(b)of NYSE Rule 300 provides that in each annual offering, up to 1366 trading licenses for the following calendar year are to be sold at the fixed price of $50,000 per trading license. Section
(d)of the rule governs the sale of trading licenses any time after the annual offering. It provides that the Exchange will sell additional trading licenses expiring at the end of the calendar year at a price of $55,000, prorated for the time remaining in the year. The price of $55,000 encompasses a premium of $5,000 or 10% above the fixed price of $50,000. No additional trading licenses will be sold by the Exchange if such sale would cause the number of trading licenses to exceed 1366. The Exchange proposes to amend section
(b)of the rule to reduce the fixed price from $50,000 to $40,000. Proposed section
(b)of the rule will now provide that in each annual offering, up to 1366 trading licenses for the following calendar year will be sold annually at a price of $40,000 per trading license. The Exchange also proposes to create a new subsection (b)(i) to state that a member organization that holds a number of trading licenses in the current calendar year and wishes to maintain that same number of trading licenses in the following calendar year shall be presumed to have applied for the same number of trading licenses that it currently holds and will be charged by the Exchange the fixed price of $40,000 per trading license pursuant to section
(b)and subject to the provisions of section
(c)of the rule. 5 Thus, a member organization that holds 5 trading licenses in the calendar year 2007 and wishes to maintain 5 trading licenses in calendar year 2008 will be charged $40, 000 per trading license for the 5 trading licenses. 6 Should the member organization subsequently decide to purchase additional trading licenses, section
(d)of the rule as proposed will apply. 5 Section
(c)of the rule describes the allocation process of trading licenses among member organizations during the annual offering. 6 The Exchange has filed separately to amend NYSE Rule 325 to eliminate the requirement of section
(e)which requires any member organization that employs individuals to execute orders on the Exchange Floor provide evidence of financial responsibility in the amount of $100,000 for each such individual. See SR-NYSE-2007-108. The Exchange further seeks to make a conforming amendment to section
(d)to adjust the fixed price and then calculate the appropriate premium accordingly. Proposed section
(d)of the rule will therefore be amended to state that after the annual offering and anytime thereafter during the following calendar year, the Exchange shall sell additional trading licenses at a price of $44,000. The $44,000 reflects a premium $4,000 which is 10% above the fixed price of $40,000 per trading license, pro-rated to reflect the portion of the year during which the trading license will be outstanding. The Exchange will not sell additional licenses if such sale would cause the number of licenses to exceed 1366. On or about October 2007, 7 the Exchange filed with the Securities and Exchange Commission (“Commission”) an amendment to the Exchange's 2007 Price List to waive for the remainder of 2007, effective retroactively on September 1, 2007, the $5,000 fee with respect to the approval of a pre-qualified substitute employee. 8 7 *See* Securities Exchange Act Release No. 56607 (October 3, 2007), 72 FR 57624 (October 10, 2007) (SR-NYSE-2007-91). 8 According to SR-NYSE-2007-91, a pre-qualified substitute employee is an employee of a member organization who has been approved to work on the Exchange trading floor and can be assigned to work on the trading floor at anytime that the member organization has a trading license available for use. Prior to the waiver of this fee in September 2007, the $5,000 fee was billed to the member organization who was the new employer of
(i)any new member or pre-qualified substitute not transferring from another member organization,
(ii)any approved member who changes employment and continues as a member with that member organization, or
(iii)any pre-qualified substitute who changes employment and continues as a pre-qualified substitute with that member organization. This fee reflects the costs to the Exchange of processing such new memberships or transfers including checking that the member organization has a license for its new employee or approving the purchase of a license, ensuring that the member is not subject to any regulatory restriction, checking that the member's new employer has put in place the required financial guarantee, and issuing or resetting the member's badge and handheld. The Exchange proposes through this filing to re-instate this fee in its entirety starting in the calendar year 2008. Although this proposed rule change is immediately effective, the re-instatement of this fee will not be implemented until January 1, 2008. The price and the terms of the $5,000 fee will remain the same. 2. Statutory Basis The Exchange believes that the basis for the proposed rule change is the requirement under Section 6(b)(4) of the Act 9 that an exchange have rules that provide for the equitable allocation of reasonable dues, fees, and other charges among its members and other persons using its facilities. 9 15 U.S.C. 78f(b)(4). 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 The Exchange has neither solicited nor received written comments on 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)(ii) 10 of the Act and subparagraph (f)(2) 11 thereunder because it establishes or changes a due, fee, or other charge. 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. 10 15 U.S.C. 78s(b)(3)(A)(ii). 11 17 CFR 240.19b-4(f)(2). 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-NYSE-2007-116 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-NYSE-2007-116. 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 available publicly. All submissions should refer to File Number SR-NYSE-2007-116 and should be submitted on or before January 18, 2008. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 12 12 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-25188 Filed 12-27-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57009; File No. SR-NYSE-2007-108] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Change To Exchange Rule 325 Relating to Financial Responsibility Requirements of Member Organizations December 20, 2007. 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 November 30, 2007, the New York Stock Exchange LLC (“NYSE” or the “Exchange”) filed with the Securities and Exchange Commission the proposed rule change as described in Items I, II, and III below, which Items have been substantially prepared by the self-regulatory organization. The Exchange has designated the proposed rule change as one that is concerned solely with the administration of the self-regulatory organization pursuant to section 19(b)(3)(A)(iii) 4 of the Act and Rule 19b-4(f)(3) 5 thereunder, which renders the proposed rule change effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. 1 15 U.S.C. 78s(b)(1). 2 15 U.S.C. 78a. 3 17 CFR 240.19b-4. 4 15 U.S.C. 78s(b)(3)(A)(iii). 5 17 CFR 240.19b-4(f)(3). I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange is proposing to amend Exchange Rule 325 to eliminate the requirement under subparagraph
(e)that any member organization that employs individuals to execute orders on the Floor of the Exchange must provide evidence of financial responsibility in the amount of $100,000 for each such individual. The Exchange is further seeking to make technical amendments to the text of Exchange Rule 700. The amended text of these Rules is attached as Exhibit 1. 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. The text of these statements may be examined at the places specified in Item IV below. The self-regulatory organization 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 Through this filing, the NYSE seeks to amend Exchange Rule 325 to eliminate the requirement under subparagraph
(e)that any member organization that employs individuals to execute orders on the Floor of the Exchange must provide evidence of financial responsibility in the amount of $100,000 for each such individual. Current Exchange Rule 325 (Capital Requirements, Member Organizations, General Provisions) Currently, Exchange Rule 325 provides that member organizations must comply with the net capital requirements prescribed by Rule 15c3-1 of the Act. 6 Exchange Rule 325 prescribes additional financial requirements beyond Rule 15c3-1, including, pursuant to subparagraph (e), the requirement that member organizations that employ individuals to execute orders on the Floor of the Exchange must provide evidence of financial responsibility in the amount of $100,000 for each such individual. In accordance with Rule 325(e), evidence of financial responsibility may be provided by any of the following: A guarantee by a clearing organization, an escrow account, a letter of credit, or pledged securities. Rule 325(e) further provides that the Exchange will consider alternate methods of compliance with this financial responsibility requirement. 6 15 U.S.C. 78a, *et seq.* Background Subparagraph
(e)of Exchange Rule 325, which prescribes financial responsibility requirements for members, was initially approved on April 11, 1978. 7 It was adopted in response to the creation of two new classes of members, i.e. lessees and physical access members, whereby for the first time there were individuals trading on the Floor who did not own actual memberships on the Exchange. 8 In adopting Rule 325(e), the Exchange felt that it was important to its reputation for integrity and fairness that all members were able to demonstrate the ability to cover
(1)any liabilities to other members incurred in the ordinary course of business on the Floor of the Exchange or
(2)any amounts due the Exchange. 9 7 *See* Securities Exchange Act Release No. 14652 (April 11, 1978), 43 FR 16581 (SR-NYSE-78-6). 8 *See* Securities Exchange Act Release No. 25015 (October 9, 1987), 52 FR 39321 (October 21, 1987) (SR-NYSE-87-27). 9 *See* Securities Exchange Act Release No. 25015 (October 9, 1987), 52 FR 39321 (October 21, 1987) (SR-NYSE-87-27). *See also* NYSE Information Memorandum 1987-04 (January 21, 1987). The Rule was subsequently amended several times to raise the dollar amounts in response to increased levels of market activity, volatility and order size. 10 It was also amended to provide for alternate methods of proof of financial responsibility, including permitting members to pledge their seats or to use surety bonds to satisfy the requirement. 11 On February 27, 2006, the Rule was amended to hold member organizations, rather than individual members, responsible for presenting evidence of financial responsibility for each individual the member organization employs. 12 This amendment was made to reflect the changes in the nature of membership incident to the Exchange's merger with Archipelago Holdings, Inc. 13 10 *See* Securities Exchange Act Release No. 17206 (October 9, 1980), 45 FR 69082 (SR-NYSE-80-23); Securities Exchange Act Release No. 26176 (October 13, 1988), 53 FR 41009 (October 18, 1988) (SR-NYSE-87-27); Securities Exchange Act Release No. 53382 (February 27, 2006), 71 FR 11251 (March 6, 2006) (SR-NYSE-05-77). 11 *See* Securities Exchange Act Release No. 17206 (October 9, 1980), 45 FR 69082 (SR-NYSE-80-23); Securities Exchange Act Release No. 26176 (October 13, 1988), 53 FR 41009 (October 18, 1988) (SR-NYSE-87-27); Securities Exchange Act Release No. 53382 (February 27, 2006), 71 FR 11251 (March 6, 2006) (SR-NYSE-05-77). While the Rule provides (and has provided) for several different methods of proof of financial responsibility, in practice many members pledged their seats or used surety bonds to satisfy the Rule. 12 *See* Securities Exchange Act Release No. 53382 (February 27, 2006), 71 FR 11251 (March 6, 2006) (SR-NYSE-05-77). *See also* NYSE Information Memorandum 2005-99 (December 15, 2005). 13 As a result, there are no longer transferable memberships and seats on the Exchange that may be used to meet the requirement of the Rule. Proposed Amendments to Exchange Rule 325 The Exchange proposes to amend the financial responsibility requirements of Exchange Rule 325 by deleting subparagraph (e). The NYSE believes that the requirements of Exchange Rule 325(e) essentially function as additional capital requirements for those member organizations that employ individuals to execute orders on the Floor. Given the robust net capital requirements already in place for member organizations pursuant to both SEC Rule 15c3-1 and Exchange Rule 325, the financial responsibility requirement under subparagraph
(e)is unnecessary. In addition, when compared with the levels and volumes of trading member organizations currently engage in, the modest extra capital required by Rule 325(e) no longer effectively advances the purpose of ensuring financial responsibility. As such, the Exchange seeks to delete subparagraph
(e)of Exchange Rule 325 in its entirety. Technical Amendments to Rule 700 The Exchange also proposes to make technical changes to Exchange Rule 700. Subparagraph
(a)of Exchange Rule 700 provides, in part, that “Except as may be specifically provided in the Rules in this series,
(i)Rules 6, 45 through 298 and Rule 440B shall not apply to option transactions and
(ii)Rule 325(e) shall not apply to members whose transactions on the Exchange are in options solely.” The Exchange seeks to delete subparagraph (a)(ii) of Rule 700, as Rule 325(e) will no longer exist. In addition, the Exchange proposes to delete the designation “(i)” in this clause since there will no longer be subsection (ii). 2. Statutory Basis The basis under the Act for the proposed rule change is the requirement under section 6(b)(5) 14 , which requires 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. The proposed rule change also is designed to support the principles of section 11A(a)(1) 15 of the Act in that it seeks to ensure economically efficient execution of securities transactions, to make it practicable for brokers to execute investors' orders in the best market, and to provide an opportunity for investors' orders to be executed without the participation of a dealer. 14 15 U.S.C. 78f(b)(5). 15 15 U.S.C. 78k-1(a)(1). 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 The Exchange has neither solicited nor received written comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing proposed rule change, which is concerned solely with the administration of the self-regulatory organization, has become effective as of November 30, 2007 pursuant to section 19(b)(3)(A)(iii) 16 of the Act and Rule 19b-4(f)(3) thereunder. 17 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. 16 15 U.S.C. 78s(b)(3)(A)(iii). 17 17 CFR 240.19b-4(f)(3). IV. Solicitation of Comments Interested persons are invited to submit written data, views and arguments concerning the foregoing, including whether the proposed rule change, as amended, 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-NYSE-2007-108 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-NYSE-2007-108. 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 such filing will also 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-2007-108 and should be submitted on or before January 18, 2008. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 18 18 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. Deletions [bracketed] Capital Requirements Member Organizations General Provisions Rule 325.
(a)Each member organization shall comply with the net capital requirements prescribed by Rule 15c3-1 under the Securities Exchange Act of 1934 (the “Exchange Act”) and with the additional requirements of this Rule 325. [(e) In addition to the net capital requirement prescribed in Rule 15c3-1 promulgated under the Securities Exchange Act of 1934, each member organization which employs individuals to execute orders on the floor of the Exchange, must present evidence of financial responsibility in the amount of $100,000 for each such employee by one of the following methods;
(1)A written guarantee by a member organization which is a member of a qualified clearing agency and has excess net capital of not less than $100,000 for each member for whom such guarantee has been extended, or
(2)$100,000 held by an independent agent in escrow, or
(3)a letter of credit issued by a bank or other party acceptable to the Exchange in the amount of $100,000, or
(4)marketable securities with a total value of at least $100,000 (after appropriate haircuts, to be determined in the same manner as haircuts are determined for capital requirements) on deposit with an organization acceptable to the Exchange and readily available, or Such written guarantee, escrow account, letter of credit or marketable securities shall be available solely for sums due the Exchange and such sums as the Board of Directors shall determine are due by such member to member organizations as the result of losses arising directly from the closing out under the Rules, of contracts entered into, in the ordinary course of business in the market on the floor of the Exchange for the purchase, sale, borrowing or loaning of securities. The Exchange will consider alternate methods of compliance with the financial responsibility standard.] Applicability, Definitions and References Rule 700.
(a)The Rules in this 700 series (Rules 700 through 794) shall be applicable to
(i)the trading on the Exchange of option contracts issued by The Options Clearing Corporation,
(ii)the terms and conditions, and the exercise and settlement, of option contracts so traded, and
(iii)the handling of orders, and the conduct of accounts and other matters, relating to option contracts dealt in by any member or member organization. Except as may be specifically provided in the Rules in this series, [(i)] Rules 6, 45 through 298 and Rule 440B shall not apply to option transactions [and
(ii)Rule 325(e) shall not apply to members whose transactions on the Exchange are in options solely]. [FR Doc. E7-25190 Filed 12-27-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57017; File No. SR-NYSEArca-2007-108] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Order Granting Accelerated Approval of a Proposed Rule Change as Modified by Amendment No. 1 Thereto to Trade Shares of 11 Funds of the ProShares Trust Pursuant to Unlisted Trading Privileges December 20, 2007. 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 October 17, 2007, NYSE Arca, Inc. (“Exchange”), through its wholly-owned subsidiary NYSE Arca Equities, Inc. (“NYSE Arca Equities”), filed with the Securities and Exchange Commission (“Commission”) the proposed rule change as described in Items I and II below, which Items have been substantially prepared by the Exchange. On December 20, 2007, the Exchange submitted Amendment No. 1 to the proposed rule change. This order provides notice of the proposed rule change as modified by Amendment No. 1 and approves the proposed rule change as amended on an accelerated basis. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange, through its wholly-owned subsidiary NYSE Arca Equities, proposes to trade pursuant to unlisted trading privileges (“UTP”) shares (“Shares”) of 11 funds (“Funds”) of the ProShares Trust (“Trust”) based on a domestic stock index and several fixed income indexes. The text of the proposed rule change is available at the Exchange's principal office, the Commission's Public Reference Room, and *http://www.nyse.com.* 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 III 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 Exchange proposes to trade pursuant to UTP under NYSE Arca Equities Rule 5.2(j)(3), Shares of ten Funds of the Trust that are designated as Short Funds and UltraShort Funds, and one Fund designated as an Ultra Fund. 3 The Commission has approved the original listing and trading of the Shares on the American Stock Exchange LLC (“Amex”). 4 3 The Commission has previously approved the trading of certain Ultra Funds, Short Funds, and UltraShort Funds of the ProShares Trust on the Exchange pursuant to UTP under NYSE Arca Equities Rule 5.2(j)(3). *See* Securities Exchange Act Release No. 55125 (January 18, 2007), 72 FR 3462 (January 25, 2007) (SR-NYSEArca-2006-87). 4 *See* Securities Exchange Act Release No. 59998 (December 19, 2007) (SR-Amex-2007-104) (“Amex Proposal”). The Funds to be traded are as follows: Short ProShares
(1)Short Lehman Brothers 7-10 Year U.S. Treasury ProShares
(2)Short Lehman Brothers 20+ Year U.S. Treasury ProShares
(3)Short iBoxx $ Liquid Investment Grade ProShares
(4)Short iBoxx $ Liquid High Yield ProShares
(5)Short Dow Jones U.S. Select Telecommunications ProShares UltraShort ProShares
(1)UltraShort Lehman Brothers 7-10 Year U.S. Treasury ProShares
(2)UltraShort Lehman Brothers 20+ Year U.S. Treasury ProShares
(3)UltraShort iBoxx $ Liquid Investment Grade ProShares
(4)UltraShort iBoxx $ Liquid High Yield ProShares
(5)UltraShort Dow Jones U.S. Select Telecommunications ProShares Ultra ProShares
(1)Ultra Dow Jones U.S. Select Telecommunications ProShares Each of the Funds will have a distinct investment objective. The Funds will attempt, on a daily basis, to achieve their investment objective by corresponding to a specified multiple of the performance, the inverse performance, or an inverse multiple of the performance of a particular fixed income or equity securities index, as briefly described below. The Funds will be based on the following benchmark indexes:
(1)Lehman Brothers 7-10 Year U.S. Treasury Index,
(2)Lehman Brothers 20+ Year U.S. Treasury Index,
(3)iBoxx $ Liquid Investment Grade Index,
(4)iBoxx $ Liquid High Yield Index, and
(5)the Dow Jones Select Telecommunications Index (the “Underlying Indexes”). Certain Funds seek daily investment results, before fees and expenses, that correspond to the inverse or opposite of the daily performance (−100%) of the Underlying Indexes (the “Short Funds”). If such a Fund is successful in meeting its objective, the net asset value (the “NAV”) of the Fund's shares should increase approximately as much, on a percentage basis, as the respective Underlying Index loses when the prices of the securities in the Index decline on a given day, or should decrease approximately as much as the respective Index gains when the prices of the securities in the index rise on a given day, before fees and expenses. Certain Funds seek daily investment results, before fees and expenses that correspond to twice the inverse or opposite of the daily performance (−200%) of the Underlying Indexes (the “UltraShort Funds”). If such a Fund is successful in meeting its objective, the NAV the Fund's shares should increase approximately twice as much, on a percentage basis, as the respective Underlying Index loses when the prices of the securities in the Index decline on a given day, or should decrease approximately twice as much as the respective Underlying Index gains when the prices of the securities in the index rise on a given day, before fees and expenses. The Short Funds and UltraShort Funds each have investment objectives that seek investment results corresponding to an inverse performance of the Underlying Indexes and are collectively referred to as the “Bearish Funds.” One Fund, the Ultra Dow Jones Select Telecommunications ProShares Fund, seeks daily investment results, before fees and expenses, that corresponds to twice the daily performance (200%) of the Underlying Index (the “Ultra Fund” or the “Bullish Fund”). This Fund, if successful in meeting its investment objective, should gain, on a percentage basis, approximately twice as much as the Fund's Underlying Index when the price of the securities in such Index increase on a given day, and should lose approximately twice as much when such prices decline on a given day. The financial instruments to be held by any of the Funds may include stock index futures contracts; options on futures contracts; options on securities and indices; equity caps, collars, and floors as well as swap agreements, forward contracts, repurchase agreements, and reverse repurchase agreements (the “Financial Instruments”). Money market instruments include U.S. government securities and repurchase agreements. The Underlying Indexes The Lehman Brothers 7-10 Year U.S. Treasury Index is market-capitalization-weighted and includes all publicly issued, U.S. Treasury securities that have a remaining maturity of between seven and ten years and have more than $250 million par outstanding. The index value is calculated and published daily by 10 p.m. Eastern Time (“E.T.”). The Lehman Brothers 20+ Year U.S. Treasury Index is market-capitalization-weighted and includes all publicly issued, U.S. Treasury Securities that have a remaining maturity greater than 20 years and have more than $150 million par outstanding. The index value is calculated and published daily by 10 p.m. E.T. The iBoxx $ Liquid Investment Grade Index is a rules-based index consisting of up to 100 highly liquid, investment-grade, U.S.-dollar-denominated corporate bonds with a minimum amount outstanding of $500 million that seeks to maximize liquidity while maintaining representation of the broader investment-grade corporate bond market. The index consists of issuers domiciled in the U.S., Bermuda, Cayman Islands, Canada, Japan or Western Europe. The index is equally priced weighted and is re-balanced monthly. The index value is calculated and published daily by 4:30 p.m. E.T. The iBoxx $ Liquid High Yield Index is a rules-based index consisting of up to 50 of the most liquid, high-yield, U.S.-dollar-denominated corporate bonds with a minimum amount outstanding of $200 million that seeks to maximize liquidity while maintaining representation of the broader high-yield corporate bond market. The index consists of issuers domiciled in the United States, Bermuda, Cayman Islands, Canada, Japan, or Western Europe. The index is equally priced weighted and is re-balanced monthly. The index value is calculated and published daily by 4:30 p.m. E.T. The Dow Jones U.S. Select Telecommunications Index is a float-adjusted market-capitalization-weighted index designed to measure the performance of the telecommunications economic sector of the U.S. equity market. Component companies include fixed line and mobile telecommunications companies. Component weights are capped for diversification. The index includes all common stocks of companies in the Dow Jones U.S. Select Telecommunications Index that are categorized as belonging to the telecommunications sector, based on Industry Classification Benchmark
(ICB)definitions. The company at the 90% cumulative market capitalization of the index must have a float-adjusted market capitalization of at least $75 million. The Index value is calculated and distributed every 15 seconds during Amex's trading hours. Additional information regarding the Underlying Indexes and the Funds is included in the Amex Proposal. Availability of Information About the Shares and the Underlying Indexes The Trust's Web site, which is and will be publicly accessible at no charge, will contain the following information for each Fund's Shares:
(1)The prior business day's closing NAV, the reported closing price, and a calculation of the premium or discount of such price in relation to the closing NAV;
(2)data for a period covering at least the four previous calendar quarters (or the life of a Fund, if shorter) indicating how frequently each Fund's Shares traded at a premium or discount to NAV based on the daily closing price and the closing NAV, and the magnitude of such premiums and discounts;
(3)its prospectus and/or product description; and
(4)other quantitative information such as daily trading volume. The prospectus and/or product description for each Fund will inform investors that the Trust's Web site has information about the premiums and discounts at which the Fund's Shares have traded. According to the Amex Proposal, Amex will disseminate for each Fund on a daily basis every 15 seconds by means of Consolidated Tape Association (“CTA”) and CQ High Speed Lines information with respect to an Indicative Intra-Day Value (“IIV”), the recent NAV, the number of shares outstanding, the estimated cash amount, and the total cash amount per Creation Unit. Amex will make available on its Web site daily trading volume, the closing price, the NAV, and the final dividend amounts to be paid for each Fund. Each Fund's total portfolio composition will be disclosed on the Trust's Web site ( *www.proshares.com* ) or another relevant Web site as determined by the Trust and/or Amex. According to the Amex Proposal, the Trust will provide Web site disclosure of portfolio holdings daily, which will include, as applicable, the names and number of shares held of each equity security (if applicable), the specific types of Financial Instruments and characteristics of such instruments, cash equivalents, and the amount of cash held in the portfolio of each Fund. This public Web site disclosure of the portfolio composition of each Fund will coincide with the disclosure by the Advisor of the “IIV File” (described below) and the “PCF File”, when applicable (described below). Therefore, the same portfolio information (including accrued expenses and dividends) will be provided on the public Web site, as well as in the IIV File and PCF File (when applicable) provided to “Authorized Participants.” 5 The format of the public Web site disclosure and the IIV File and PCF File (when applicable) will differ because the public Web site will list all portfolio holdings while the IIV File and PCF File (when applicable) will similarly provide the portfolio holdings but in a format appropriate for Authorized Participants, *i.e.* , the exact components of a Creation Unit. 6 Accordingly, each investor will have access to the current portfolio composition of each Fund through the Trust's Web site, at *www.proshares.com,* and/or at the Amex's Web site at *www.amex.com.* 5 An Authorized Participant is either
(1)a broker-dealer or other participant in the continuous net settlement system of the National Securities Clearing Corporation (“NSCC”) or
(2)a DTC participant, and which has entered into a participant agreement with the Distributor. 6 The composition will be used to calculate the NAV later that day. Amex has represented in the Amex Proposal that it will obtain a representation from the Trust (for each Fund), prior to listing, that the NAV per share for each Fund will be calculated daily and made available to all market participants at the same time. 7 7 If the Amex halts trading in the Shares of the Funds because the NAV is not being disseminated to all market participants at the same time, then the Exchange would do so as well. Beneficial owners of Shares (“Beneficial Owners”) will receive all of the statements, notices, and reports required under the 1940 Act and other applicable laws. They will receive, for example, annual and semi-annual fund reports, written statements accompanying dividend payments, proxy statements, annual notifications detailing the tax status of fund distributions, and Form 1099-DIVs. Some of these documents will be provided to Beneficial Owners by their brokers, while others will be provided by the Fund through the brokers. The daily closing index value and the percentage change in the daily closing index value for each Underlying Index will be publicly available on various Web sites, *e.g., www.bloomberg.com.* Data regarding each Underlying Index is also available from the respective index provider to subscribers. The value of the Dow Jones U.S. Select Telecommunications Index will be updated intra-day on a real-time basis as its individual component securities change in price. This intra-day value of this index will be disseminated at least every 15 seconds throughout Amex's trading day by Amex or another organization authorized by the relevant Underlying Index provider. Because the NSCC's system for the receipt and dissemination to its participants of the PCF is not currently capable of processing information with respect to Financial Instruments, the ProShare Advisors LLC, the investment advisor to each Fund (the “Advisor”), has developed an “IIV File,' which it will use to disclose the Funds” holdings of Financial Instruments. 8 The IIV File will contain, for the Bullish Fund (to the extent that it holds Financial Instruments) and Bearish Funds, information sufficient by itself or in connection with the PCF File and other available information for market participants to calculate a Fund's IIV and effectively arbitrage the Fund. 8 The Trust or the Advisor will post the IIV File to a password-protected Web site before the opening of business on each business day, and all Authorized Participants and the Amex will have access to a password and the Web site containing the IIV File. However, the Fund will disclose each business day to the public identical information, but in a format appropriate to public investors, at the same time the Fund discloses the IIV and PCF files, as applicable, to industry participants. Dissemination of Intra-Day Indicative Value
(IIV)To provide updated information relating to each Fund for use by investors, professionals, and persons wishing to create or redeem Shares, Amex will disseminate through the facilities of the CTA:
(1)Continuously throughout the Amex's trading day, the market value of a Share; and
(2)at least every 15 seconds throughout the Amex's trading day, a calculation of the IIV of each Fund as calculated by the Amex (the “IIV Calculator”). Comparing these two figures helps an investor to determine whether, and to what extent, the Shares may be selling at a premium or a discount to NAV. The IIV Calculator will calculate an IIV for each Fund in the manner discussed below. The IIV is designed to provide investors with a reference value that can be used in connection with other related market information. The IIV does not necessarily reflect the precise composition of the current portfolio held by each Fund at a particular point in time. Therefore, the IIV on a per Share basis disseminated during Amex trading hours should not be viewed as a real-time update of the NAV of a particular Fund, which is calculated only once a day. While the IIV that will be disseminated by Amex is expected to be close to the most recently calculated Fund NAV on a per Share basis, it is possible that the value of the portfolio held by a Fund may diverge from the IIV during any trading day. In such case, the IIV will not precisely reflect the value of the Fund portfolio. Trading Halts The Exchange represents that it will cease trading the Shares of the Fund if the listing market stops trading the Shares because of a regulatory halt similar to a halt based on NYSE Arca Equities Rule 7.12. UTP trading in the Shares is also governed by the trading halts provisions of NYSE Arca Equities Rule 7.34 relating to temporary interruptions in the calculation or wide dissemination of the IIV or the value of the underlying index. The Exchange may also consider all relevant factors in exercising its discretion to halt or suspend trading in the Shares of a Fund. Trading may be halted because of market conditions or for reasons that, in the view of the Exchange, make trading in the Shares inadvisable. These may include:
(1)The extent to which trading is not occurring in the securities comprising an Underlying Index and/or the Financial Instruments of a Fund, or
(2)whether other unusual conditions or circumstances detrimental to the maintenance of a fair and orderly market are present. In addition, trading in Shares could be halted pursuant to the Exchange's “circuit breaker” rule 9 or by the halt or suspension of trading of the underlying securities. 9 *See* NYSE Arca Equities Rule 7.12. Trading Rules The Exchange deems the Shares to be equity securities, thus rendering trading in the Shares subject to the Exchange's existing rules governing the trading of equity securities. Shares will trade on the NYSE Arca Marketplace from 4 a.m. to 8 p.m. E.T. in accordance with NYSE Arca Equities Rule 7.34 (Opening, Core, and Late Trading Sessions). 10 The Exchange has appropriate rules to facilitate transactions in the Shares during all trading sessions. The minimum trading increment for Shares on the Exchange will be $0.01. 10 Because NSCC does not disseminate the new basket amount to market participants until approximately 6 p.m. to 7 p.m. E.T., an updated IIV cannot be calculated during the Exchange's late trading session (from 4:15 p.m. to 8 p.m. E.T.). Official index sponsors for the Underlying Indexes currently do not calculate updated index values during the Exchange's late trading session; however, if the index sponsors do so in the future, the Exchange would not trade this product unless such official index value is widely disseminated. Surveillance The Exchange intends to utilize its existing surveillance procedures applicable to derivative products to monitor trading in the Shares. The Exchange represents that these procedures are adequate to properly monitor Exchange trading of the Shares in all trading sessions and to deter and detect violations of Exchange rules. The Exchange's current trading surveillance focuses on detecting when securities trade outside their normal patterns. When such situations are detected, surveillance analysis follows and investigations are opened, where appropriate, to review the behavior of all relevant parties for all relevant trading violations. The Exchange may obtain information via the Intermarket Surveillance Group (“ISG”) from other exchanges who are members or affiliates of the ISG. 11 11 A list of the current members and affiliate members of ISG is available at *www.isgportal.com.* In addition, the Exchange also has a general policy prohibiting the distribution of material, non-public information by its employees. Information Bulletin Prior to the commencement of trading, the Exchange will inform its ETP Holders in an Information Bulletin (“Bulletin”) of the special characteristics and risks associated with trading the Shares. Specifically, the Bulletin will discuss the following:
(1)The procedures for purchases and redemptions of Shares in Creation Unit aggregations (and that Shares are not individually redeemable);
(2)NYSE Arca Equities Rule 9.2(a), which imposes a duty of due diligence on its ETP Holders to learn the essential facts relating to every customer prior to trading the Shares; 12
(3)the risks involved in trading the Shares during the Opening and Late Trading Sessions when an updated IIV will not be calculated or publicly disseminated;
(4)how information regarding the IIV is disseminated;
(5)the requirement that ETP Holders deliver a prospectus to investors purchasing newly issued Shares prior to or concurrently with the confirmation of a transaction; and
(6)trading information. 12 NYSE Arca Equities Rule 9.2(a) provides that an ETP Holder, before recommending a transaction, must have reasonable grounds to believe that the recommendation is suitable for the customer based on any facts disclosed by the customer as to his other security holdings and as to his financial situation and needs. Further, the rule provides, with a limited exception, that prior to the execution of a transaction recommended to a non-institutional customer, the ETP Holder shall make reasonable efforts to obtain information concerning the customer's financial status, tax status, investment objectives, and any other information that it believes would be useful to make a recommendation. *See* Securities Exchange Act Release No. 54045 (June 26, 2006), 71 FR 37971 (July 3, 2006) (SR-PCX-2005-115). In addition, the Bulletin will reference that the Funds are subject to various fees and expenses described in the registration statements for the Funds. The Bulletin will also discuss any exemptive, no-action, and interpretive relief granted by the Commission from Section 11(d)(1) of the Act 13 and certain rules under the Act, including Rule 10b-10, Rule 14e-5, Rule 10b-17, Rule 11d1-2, Rules 15c1-5 and 15c1-6, and Rules 101 and 102 of Regulation M under the Act. 13 15 U.S.C. 78k(d)(1). The Bulletin will also disclose that the NAV for the Shares will be calculated after 4 p.m. E.T. each trading day. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with the provisions of Section 6 of the Act, 14 in general, and with Section 6(b)(5) of the Act, 15 in particular, in that it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to remove impediments to a free and open market and a national market system, and, in general, to protect investors and the public interest. 14 15 U.S.C. 78f. 15 15 U.S.C. 78f(b)(5). B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe that the proposed rule change would result in 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 Written comments were neither solicited nor received. III. 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-NYSEArca-2007-108 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-NYSEArca-2007-108. 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 available publicly. All submissions should refer to File Number SR-NYSEArca-2007-108 and should be submitted on or before January 18, 2008. IV Commission's Findings and Order Granting Accelerated Approval of the Proposed Rule Change After careful consideration, the Commission finds that the proposed rule change is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities exchange. 16 Specifically, the Commission finds that the proposed rule change is consistent with Section 6(b)(5) of the Act, 17 which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices, 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. The Commission believes that this proposal should benefit investors by increasing competition among markets that trade the Shares. 16 In approving this proposed rule change, the Commission has considered the proposed rule's impact on efficiency, competition, and capital formation. *See* 15 U.S.C. 78c(f). 17 15 U.S.C. 78f(b)(5). In addition, the Commission finds that the proposal is consistent with Section 12(f) of the Act, 18 which permits an exchange to trade, pursuant to UTP, a security that is listed and registered on another exchange. 19 The Commission notes that it previously approved the listing and trading of the Shares on Amex. 20 The Commission also finds that the proposal is consistent with Rule 12f-5 under the Act, 21 which provides that an exchange shall not extend UTP to a security unless the exchange has in effect a rule or rules providing for transactions in the class or type of security to which the exchange extends UTP. The Exchange has represented that it meets this requirement because it deems the Shares to be equity securities, thus rendering trading in the Shares subject to the Exchange's existing rules governing the trading of equity securities. 18 15 U.S.C. 78 *l* (f). 19 Section 12(a) of the Act, 15 U.S.C. 78 *l* (a), generally prohibits a broker-dealer from trading a security on a national securities exchange unless the security is registered on that exchange pursuant to Section 12 of the Act. Section 12(f) of the Act excludes from this restriction trading in any security to which an exchange “extends UTP.” When an exchange extends UTP to a security, it allows its members to trade the security as if it were listed and registered on the exchange even though it is not so listed and registered. 20 *See supra* note 4. 21 17 CFR 240.12f-5. The Commission further believes that the proposal is consistent with Section 11A(a)(1)(C)(iii) of the Act, 22 which sets forth Congress' finding that it is in the public interest and appropriate for the protection of investors and the maintenance of fair and orderly markets to assure the availability to brokers, dealers, and investors of information with respect to quotations for and transactions in securities. Quotations for and last-sale information regarding the Shares are disseminated through the facilities of the CTA and the Consolidated Quotation System. In addition, from 9:30 a.m. to 4:15 p.m. E.T., Amex will disseminate via the facilities of the CTA and CQ High Speed lines the IIV at least every 15 seconds, the market value of a Share for each Fund, the most recent NAV for each Fund, the number of Shares outstanding for each Fund, and the estimated cash amount and total cash amount per Creation Unit. Amex will also make available on its Web site daily trading volume, the closing prices, the NAV, and the final dividend amounts to be paid for each Fund. The Trust's Web site will contain a variety of other quantitative information for the Shares of each Fund. Finally, each Fund's total portfolio composition will be disclosed on the Web site of the Trust or another relevant Web site. 22 15 U.S.C. 78k-1(a)(1)(C)(iii). Furthermore, the Commission believes that the proposal is reasonably designed to preclude trading of the Shares when transparency is impaired. Trading in the Shares will be subject to NYSE Arca Equities Rule 7.34, which provides that, if the listing market halts trading when the IIV is not being calculated or disseminated, the Exchange also would halt trading. The Exchange also may halt trading in the Shares of a Fund when trading is not occurring in the securities comprising an Underlying Index and/or the Financial Instruments of a Fund. The Commission notes that, if the Shares should be delisted by the listing exchange, the Exchange would no longer have authority to trade the Shares pursuant to this order. In support of this proposal, the Exchange has made the following representations: 1. The Exchange's surveillance procedures are adequate to properly monitor Exchange trading of the Shares in all trading sessions and to deter and detect violations of Exchange rules. 2. Prior to the commencement of trading, the Exchange would inform its ETP Holders in an Information Bulletin of the special characteristics and risks associated with trading the Shares. In particular, the Information Bulletin would discuss the risks involved in trading the Shares during the Opening and Late Trading Sessions when an updated IIV will not be calculated or publicly disseminated. 3. The Information Bulletin also would discuss the requirement that an ETP Holder deliver a prospectus to an investor purchasing newly issued Shares prior to or concurrently with the confirmation of a transaction. This approval order is based on the Exchange's representations. The Commission finds good cause for approving this proposal before the thirtieth day after the publication of notice thereof in the **Federal Register.** As noted previously, the Commission previously found the listing and trading of the Shares on Amex be consistent with the Act. The Commission presently is not aware of any regulatory issue that should cause it to revisit that finding or would preclude the trading of the Shares on the Exchange pursuant to UTP. Therefore, accelerating approval of this proposal should benefit investors by creating, without undue delay, additional competition in the market for the Shares. V. Conclusion *It is therefore ordered,* pursuant to Section 19(b)(2) of the Act, 23 that the proposed rule change (SR-NYSEArca-2007-108), as amended, be and it hereby is approved on an accelerated basis. 23 15 U.S.C. 78s(b)(2). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 24 24 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-25207 Filed 12-27-07; 8:45 am] BILLING CODE 8011-01-P SMALL BUSINESS ADMINISTRATION [Disaster Declaration #11139] Oklahoma Disaster #OK-00016 AGENCY: U.S. Small Business Administration. ACTION: Notice. SUMMARY: This is a Notice of the Presidential declaration of a major disaster for Public Assistance Only for the State of OKLAHOMA (FEMA-1735-DR), dated 12/18/2007. *Incident:* Severe Winter Storms. *Incident Period:* 12/08/2007 and continuing. Effective Date: 12/18/2007. *Physical Loan Application Deadline Date:* 02/18/2008. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street, SW., Suite 6050, Washington, DC 20416. SUPPLEMENTARY INFORMATION: Notice is hereby given that as a result of the President's major disaster declaration on 12/18/2007, Private Non-Profit organizations that provide essential services of a governmental nature may file disaster loan applications at the address listed above or other locally announced locations. The following areas have been determined to be adversely affected by the disaster: *Primary Counties:* Cleveland, Lincoln, Mayes, Oklahoma, Pottawatomie, Tulsa, Wagoner. *The Interest Rates are:* Percent Other (Including Non-Profit Organizations) With Credit Available Elsewhere: 5.250 Businesses and Non-Profit Organizations Without Credit Available Elsewhere: 4.000 The number assigned to this disaster for physical damage is 11139. (Catalog of Federal Domestic Assistance Number 59008) Herbert L. Mitchell, Associate Administrator for Disaster Assistance. [FR Doc. E7-25252 Filed 12-27-07; 8:45 am] BILLING CODE 8025-01-P SMALL BUSINESS ADMINISTRATION [Disaster Declaration # 11137] Oregon Disaster # OR-00025 AGENCY: U.S. Small Business Administration. ACTION: Notice. SUMMARY: This is a Notice of the Presidential declaration of a major disaster for Public Assistance Only for the State of OREGON ( FEMA—1733—DR), dated 12/08/2007. *Incident:* Severe Storms, Flooding, Landslides, and Mudslides. *Incident Period:* 12/01/2007 and continuing. EFFECTIVE DATE: 12/08/2007. *Physical Loan Application Deadline Date:* 02/07/2008. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street, SW., Suite 6050, Washington, DC 20416. SUPPLEMENTARY INFORMATION: Notice is hereby given that as a result of the President's major disaster declaration on 12/08/2007, Private Non-Profit organizations that provide essential services of a governmental nature may file disaster loan applications at the address listed above or other locally announced locations. The following areas have been determined to be adversely affected by the disaster: *Primary Counties:* Clatsop, Columbia, Lincoln, Polk. Tillamook, Washington, Yamhill, *The Interest Rates are:* Percent Other (Including Non-Profit Organizations) With Credit Available Elsewhere 5.250 Businesses and Non-Profit Organizations Without Credit Available Elsewhere 4.000 The number assigned to this disaster for physical damage is 11137 (Catalog of Federal Domestic Assistance Number 59008) Herbert L. Mitchell, Associate Administrator for Disaster Assistance. [FR Doc. E7-25247 Filed 12-27-07; 8:45 am] BILLING CODE 8025-01-P SMALL BUSINESS ADMINISTRATION [Disaster Declaration # 11138] Washington Disaster # WA-00016 AGENCY: U.S. Small Business Administration. ACTION: Notice. SUMMARY: This is a Notice of the Presidential declaration of a major disaster for Public Assistance Only for the State of Washington (FEMA—1734—DR), dated 12/08/2007. *Incident:* Severe Storms, Flooding, Landslides, and Mudslides. *Incident Period:* 12/01/2007 and continuing. EFFECTIVE DATE: 12/08/2007. *Physical Loan Application Deadline Date:* 02/07/2008. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street, SW., Suite 6050, Washington, DC 20416. SUPPLEMENTARY INFORMATION: Notice is hereby given that as a result of the President's major disaster declaration on 12/08/2007, Private Non-Profit organizations that provide essential services of a governmental nature may file disaster loan applications at the address listed above or other locally announced locations. The following areas have been determined to be adversely affected by the disaster: *Primary Counties:* Grays Harbor, Kitsap, Lewis, Mason. Pacific, Thurston, *The Interest Rates are:* Percent Other (Including Non-Profit Organizations) With Credit Available Elsewhere 5.250 Businesses And Non-Profit Organizations Without Credit Available Elsewhere 4.000 The number assigned to this disaster for physical damage is 11138 (Catalog of Federal Domestic Assistance Number 59008) Herbert L. Mitchell, Associate Administrator for Disaster Assistance. [FR Doc. E7-25246 Filed 12-27-07; 8:45 am] BILLING CODE 8025-01-P SMALL BUSINESS ADMINISTRATION Interest Rates The Small Business Administration publishes an interest rate called the optional “peg” rate (13 CFR 120.214) on a quarterly basis. This rate is a weighted average cost of money to the government for maturities similar to the average SBA direct loan. This rate may be used as a base rate for guaranteed fluctuating interest rate SBA loans. This rate will be 4.750 (4 3/4 ) percent for the January-March quarter of FY 2008. Pursuant to 13 CFR 120.921(b), the maximum legal interest rate for any third party lender's commercial loan which funds any portion of the cost of a 504 project (see 13 CFR 120.801) shall be 6% over the New York Prime rate or, if that exceeds the maximum interest rate permitted by the constitution or laws of a given State, the maximum interest rate will be the rate permitted by the constitution or laws of the given State. Walter C. Intlekofer, Acting Director, Office of Financial Assistance. [FR Doc. E7-25232 Filed 12-27-07; 8:45 am] BILLING CODE 8025-01-P SMALL BUSINESS ADMINISTRATION Small Business Size Standards: Waiver of the Nonmanufacturer Rule AGENCY: U.S. Small Business Administration. ACTION: Notice of intent to waive the nonmanufacturer rule for all other miscellaneous electrical equipment and component manufacturing. SUMMARY: The U.S. Small Business Administration
(SBA)is considering granting a request for a waiver of the Nonmanufacturer Rule for All Other Miscellaneous Electrical Equipment and Component Manufacturing. According to the request, no small business manufacturers supply these classes of products to the Federal government. If granted, the waiver would allow otherwise qualified regular dealers to supply the products of any domestic manufacturer on a Federal contract set aside for small businesses; servicedisabled veteran-owned small businesses or SBA's 8(a) Business Development Program. DATES: Comments and source information must be submitted January 14, 2008. ADDRESSES: You may submit comments and source information to Pamela M. McClam, Program Analyst, U.S. Small Business Administration, Office of Government Contracting, 409 3rd Street, SW., Suite 8800, Washington, DC 20416. FOR FURTHER INFORMATION CONTACT: Pamela M. McClam, Program Analyst, by telephone at
(202)205-7408; by FAX at
(202)481-4783; or by e-mail at *Pamela.McClam@sba.gov.* SUPPLEMENTARY INFORMATION: Section 8(a)(17) of the Small Business Act (Act), 15 U.S.C. 637(a)(17), requires that recipients of Federal contracts set aside for small businesses, service-disabled veteran-owned small businesses, or SBA's 8(a) Business Development Program provide the product of a small business manufacturer or processor, if the recipient is other than the actual manufacturer or processor of the product. This requirement is commonly referred to as the Nonmanufacturer Rule. The SBA regulations imposing this requirement are found at 13 CFR 121.406(b). Section 8(a)(17)(b)(iv) of the Act authorizes SBA to waive the Nonmanufacturer Rule for any “class of products” for which there are no small business manufacturers or processors available to participate in the Federal market. As implemented in SBA's regulations at 13 CFR 121.1202(c), in order to be considered available to participate in the Federal market for a class of products, a small business manufacturer must have submitted a proposal for a contract solicitation or received a contract from the Federal government within the last 24 months. The SBA defines “class of products” based on six digit coding system. The coding system is the Office of Management and Budget North American Industry Classification System (NAICS). The SBA is currently processing a request to waive the Nonmanufacturer Rule for All Other Miscellaneous Electrical Equipment and Component Manufacturing. North American Industry Classification System (NAICS) code 335999 product number (6250). The public is invited to comment or provide source information to SBA on the proposed waivers of the Nonmanufacturer Rule for this class of NAICS code within 15 days after date of publication in the **Federal Register** . Arthur E. Collins, Jr., Director for Government Contracting. [FR Doc. E7-25245 Filed 12-27-07; 8:45 am] BILLING CODE 8025-01-P DEPARTMENT OF STATE [Public Notice 6043] Meeting of Advisory Committee on International Communications and Information Policy The Department of State's Advisory Committee on International Communications and Information Policy (ACICIP) will hold a public meeting on January 24, 2008, from 10 a.m. to 12 p.m., in the Loy Henderson Auditorium of the Harry S. Truman Building of the U.S. Department of State. The Truman Building is located at 2201 C Street, NW., Washington, DC 20520. The committee provides a formal channel for regular consultation and coordination on major economic, social and legal issues and problems in international communications and information policy, especially as these issues and problems involve users of information and communications services, providers of such services, technology research and development, foreign industrial and regulatory policy, the activities of international organizations with regard to communications and information, and developing country issues. The meeting will be led by ACICIP Chair Mr. Richard E. Wiley of Wiley Rein LLP. and Ambassador David A. Gross, Deputy Assistant Secretary and U.S. Coordinator for International Communications and Information Policy. The meeting's agenda will include discussions pertaining to various upcoming international telecommunications meetings and conferences, including a conference that will be led by the President's Digital Freedom Initiative (a public-private partnership) that is expected to be held in May 2008 and will focus on promoting broadband access in West Africa. Additionally, there will be reports and discussion concerning recent bilateral meetings between the U.S. and the European Union as well as between the U.S. and India. There will also be discussion about the Internet Governance Forum
(IGF)that took place in Brazil this past November, and the upcoming IGF that will take place in India in December 2008. Lastly, there will be discussion about additional upcoming major events and issues for 2008, including the APEC Telecommunications Ministerial and the OECD Ministerial on the Future of the Internet Economy. Members of the public may submit suggestions and comments to the ACICIP. Submissions regarding an event, consultation, meeting, etc. listed in the agenda above should be received by the ACICIP Executive Secretary (contact information below) at least ten working days prior to the date of that listed event. All comments must be submitted in written form and should not exceed one page for each country (for comments on consultations) or for each subject area (for other comments). Resource limitations preclude acknowledging or replying to submissions. While the meeting is open to the public, admittance to the Department of State building is only by means of a pre-clearance. For placement on the pre-clearance list, please submit the following information no later than 5:00 p.m. on Monday, January 21, 2008 (Please note that this information is not retained by the ACICIP Executive Secretary and must therefore be re-submitted for each ACICIP meeting): I. STATE THAT YOU ARE REQUESTING PRE-CLEARANCE TO A MEETING II. PROVIDE THE FOLLOWING INFORMATION: 1. Name of meeting and its date and time. 2. Visitor's full name. 3. Company/Agency/Organization. 4. Title at Company/Agency/Organization. 5. Date of birth. 6. Citizenship. 7. Acceptable forms of identification for entry into the U.S. Department of State include: • U.S. driver's license with photo. • Passport. • U.S. government agency ID. 8. ID number on the ID visitor will show upon entry. Send the above information to Emily Yee by fax
(202)647-5957 or e-mail *YeeE@state.gov.* *Privacy Act Statement:* The above information is sought pursuant to 5 U.S.C. § 301 and 22 U.S.C. 2651a, 4802(a). The principal purpose for collecting the information is to assure protection of U.S. Department of State facilities. The information provided also may be released to Federal, State or local agencies for law enforcement, counter-terrorism or homeland security purposes, or to other federal agencies for certain personnel and records management matters. Providing this information is voluntary but failure to do so may result in denial of access to U.S. Department of State facilities. All visitors for this meeting must use the 23rd Street entrance. The valid ID bearing the number provided with your pre-clearance request will be required for admittance. Non-U.S. government attendees must be escorted by Department of State personnel at all times when in the building. For further information, please contact Emily Yee, Executive Secretary of the Committee, at
(202)647-5205 or *YeeE@state.gov.* General information about ACICIP and the mission of International Communications and Information Policy is available at: *http://www.state.gov/e/eeb/adcom/c667.htm.* Dated: December 19, 2007. Emily Yee, ACICIP Executive Secretary, Department of State. [FR Doc. E7-25265 Filed 12-27-07; 8:45 am] BILLING CODE 4710-45-P DEPARTMENT OF TRANSPORTATION Federal Aviation Administration Public Notice For Waiver of Aeronautical Land-Use Assurance; Detroit Metropolitan Wayne County Airport; Detroit, MI AGENCY: Federal Aviation Administration, DOT. ACTION: Notice of intent of waiver with respect to land. SUMMARY: The Federal Aviation Administration
(FAA)is considering a proposal to change a portion of the Detroit Metropolitan Wayne County Airport
(DTW)from aeronautical use to non-aeronautical use and to authorize the sale of the airport property. The proposal consists of the sale of vacant, unimproved land owned by the Wayne County Airport Authority
(WCAA)and Wayne County (County). The WCAA has requested from FAA a “Release from Federal agreement obligated land covenants” to sell one
(1)parcel of property acquired by the County without Federal funding. There are no impacts to the airport by allowing the WCAA to dispose of the vacant property. Approval does not constitute a commitment by the FAA to financially assist in the disposal of the airport property nor a determination of eligibility for grant-in-aid funding from the FAA. The disposition of proceeds from the disposal of the airport property will be in accordance with FAA's Policy and Procedures Concerning the Use of Airport Revenue, published in the **Federal Register** on February 16, 1999. In accordance with section 47107(h) of title 49, United States Code, this notice is required to be published in the **Federal Register** 30 days before modifying the land-use assurance that requires the property to be used for an aeronautical purpose. DATES: Comments must be received on or before January 28, 2008. ADDRESSES: Mr. David J. Welhouse, Program Manager, Detroit Airports District Office, 11677 South Wayne Road, Suite 107, Romulus, Michigan 48174. FOR FURTHER INFORMATION CONTACT: Mr. David J. Welhouse, Program Manager, Detroit Airports District Office, 11677 South Wayne Road, Suite 107, Romulus, Michigan 48174. Telephone Number
(734)229-2952/Fax number
(734)229-2950. Documents reflecting this FAA action may be reviewed at this same location or at the Detroit Metropolitan Wayne County Airport, Detroit, Michigan. SUPPLEMENTARY INFORMATION: Following is a legal description of the property located in Romulus, Wayne County, Michigan, and described as follows: Description of Parcel Being Released (1.318 Acres) Part of the southwest 1/4 of section 24, T.3S., R.9E., City of Romulus, Wayne County, Michigan and being more particularly described as follows: Commencing at the south 1/4 corner of section 24, T.3S., R.9E., City of Romulus, Wayne County, Michigan and running thence north 00 degrees 23 minutes 10 seconds west, along the north-south 1/4 line of said section 24, said line being also the centerline of Harrison Road (86 feet wide), a distance of 460.00 feet to a point; thence north 89 degrees 14 minutes 52 seconds west a distance of 43.01 feet to a point the west line of said Harrison Road, said point being the Point of Beginning of the parcel of land herein being described; proceeding thence from said Point of Beginning, north 89 degrees 14 minutes 52 seconds west, along a line parallel with the south line of said Section 24, a measured distance of 211.21 feet (described 211.22 feet) to a point; thence north 00 degrees 23 minutes 10 seconds west, along a line parallel with the north-south 1/4 line of said section 24, a distance of 280.90 feet to a point on the centerline of the Frank and Poet Drain; thence south 84 degrees 21 minutes 32 seconds east, along the centerline of said Frank and Poet Drain, a distance of 212.34 feet to a point on the west line of said Harrison Road; thence south 00 degrees 23 minutes 10 seconds east, along the west line of said Harrison Road, said line being 43.00 feet west of, as measured at right angles to and parallel with the north-south 1/4 line of said section 24, a distance of 262.80 feet to the Point of Beginning, containing 57,406 square feet or 1.318 acres, more or less, of land in area. Issued in Romulus, Michigan, on October 31, 2007. Matthew J. Thys, Manager, Detroit Airports District Office, FAA, Great Lakes Region. [FR Doc. 07-6192 Filed 12-27-07; 8:45 am]
Connectionstraces to 51
Traces to 51 documents
U.S. Code
CFR
34 references not yet in our index
  • 44 USC 35
  • Pub. L. 109-115
  • 24 CFR 791
  • 103 Stat. 1987
  • Pub. L. 108-451
  • 118 Stat. 3536
  • 118 Stat. 3478
  • Pub. L. 97-293
  • 96 Stat. 1274
  • 43 CFR 2920
  • 70 FR 35707
  • 19 CFR 201
  • 19 CFR 207
  • 29 CFR 1912
  • Pub. L. 108-199
  • Pub. L. 108-458
  • 118 Stat. 3638
  • 50 USC 401-442
  • 69 FR 53
  • 46 FR 59
  • 41 USC 405(a)
  • 40 CFR 82
  • Pub. L. 109-435
  • 120 Stat. 3198
  • 39 CFR 3020.13
  • 17 CFR 240.17
  • 17 CFR 249
  • 17 CFR 240.19
  • 17 CFR 240.10
  • 15 USC 78
  • 17 CFR 19
  • 15 USC 78(a)
  • 17 CFR 240.15
  • 17 CFR 240.12
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Notices
General notice
U.S.C.§ 1505
U.S.C.§ 6621
Stat.Public Law 105–205
U.S.C.§ 3545
Fed. Reg.Notices
U.S.C.§ 4321
U.S.C.§ 1337
C.F.R.§ 210.14
C.F.R.§ 210.75
Cite44 USC 35
Pub. L.Pub. L. 109-115
Cite24 CFR 791
Cites 85 · showing 12Cited by 0 across 0 sources
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