Notices. Amendment
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/register/2008/02/08/08-573A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
BILLING CODE 4410-11-M DEPARTMENT OF LABOR Office of the Secretary Submission for OMB Review: Comment Request February 5, 2008 The Department of Labor
(DOL)hereby announces the submission of the following public information collection request
(ICR)to the Office of Management and Budget
(OMB)for review and approval in accordance with the Paperwork Reduction Act of 1995 (Pub. L. 104-13, 44 U.S.C. chapter 35). A copy of this ICR, with applicable supporting documentation; including among other things a description of the likely respondents, proposed frequency of response, and estimated total burden may be obtained from the *RegInfo.gov* Web site at *http://www.reginfo.gov/public/do/PRAMain* or by contacting Darrin King on 202-693-4129 (this is not a toll-free number) / e-mail: *king.darrin@dol.gov.* Interested parties are encouraged to send comments to the Office of Information and Regulatory Affairs, Attn: Bridget Dooling, OMB Desk Officer for the Employment Standards Administration (ESA), Office of Management and Budget, Room 10235, Washington, DC 20503, Telephone: 202-395-7316 / Fax: 202-395-6974 (these are not toll-free numbers), E-mail: *OIRA_submission@omb.eop.gov* within 30 days from the date of this publication in the **Federal Register** . In order to ensure the appropriate consideration, comments should reference the OMB Control Number (see below). The OMB is particularly interested in comments which: • 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; • Evaluate the accuracy of the agency's estimate of the burden of the proposed collection of information, including the validity of the methodology and assumptions used; • Enhance the quality, utility, and clarity of the information to be collected; and • Minimize the burden of the collection of information on those who are to respond, including through the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology, e.g., permitting electronic submission of responses. *Agency:* Employment Standards Administration *Type of Review:* Extension without change of currently approved collection *Title:* Pre-Hearing Statement *OMB Control Number:* 1215-0085 *Form Number:* LS-18 *Estimated Number of Respondents:* 5,400 *Total Estimated Annual Burden Hours:* 918 *Total Estimated Cost Burden:* $2,376 *Affected Public:* Individuals or households *Description:* The Form LS-18 is used to refer cases to the Department's Office of Administrative Law Judges for formal hearing under the Longshore and Harbor Workers' Compensation Act [33 U.S. C. 901]. Darrin A. King, Acting Departmental Clearance Officer. [FR Doc. E8-2368 Filed 2-7-08; 8:45 am] BILLING CODE 4510-CF-P DEPARTMENT OF LABOR Employment and Training Administration Science, Technology, Engineering, and Mathematics
(STEM)Opportunities in the Workforce System Initiative; Solicitation for Grant Applications
(SGA)SGA/DFA PY 07-03, Amendment Number 1 AGENCY: Employment and Training Administration (ETA), Labor. ACTION: Amendment. SUMMARY: The Employment and Training Administration published a document in the **Federal Register** of January 15, 2008, announcing the availability of funds and solicitation for grant applications for the Science, Technology, Engineering, and Mathematics
(STEM)Opportunities in the Workforce System Initiative. This amendment will make changes to the January 15 document by clarifying and correcting this Solicitation. FOR FURTHER INFORMATION CONTACT: Marsha Daniels, Grants Management Specialist, Telephone
(202)693-3504. Amendment In the **Federal Register** of January 15, 2008, in FR Volume 73, Number 10, the solicitation is hereby amended with the following: 1. This amendment is to clarify the type of Workforce Investment Board that is an Eligible Applicant for this Solicitation. Where an individual Workforce Investment Board is cited in the Solicitation it will be defined as a State or Local Workforce Investment Board. 2. On page 2533, Part I.C. Use of Funds/Allowable Activities, remove the following text: Activities funded under this Solicitation must be focused on developing skills and competencies related to fields identified in the Attachment. Replace with the following text: Activities funded under this Solicitation must be focused on developing skills and competencies related to the H-1B industries and occupations identified in the Attachment and further limited by the list of NSF-defined STEM fields on page 2531, center column. 3. On page 2542, the Attachment: H-1B Industry Sectors and Occupations, add the following text under the header: For the purposes of this Solicitation, this list is further limited by the NSF-defined STEM fields on page 2531. 4. A virtual Prospective Applicant Conference was held via webinar for this grant competition on January 25, 2008. A recorded version can be viewed at: *http://www.workforce3one.org/view.cfm?id=4776&info=1* Signed at Washington, DC, this 4th day of February 2008. Eric Luetkenhaus, Grant Officer, Employment & Training Administration. [FR Doc. E8-2336 Filed 2-7-08; 8:45 am] BILLING CODE 4510-FN-P DEPARTMENT OF LABOR Bureau of Labor Statistics Proposed Collection, Comment Request ACTION: Notice. SUMMARY: The Department of Labor, as part of its continuing effort to reduce paperwork and respondent burden, conducts a pre-clearance consultation program to provide the general public and Federal agencies with an opportunity to comment on proposed and/or continuing collections of information in accordance with the Paperwork Reduction Act of 1995 (PRA95) [44 U.S.C. 3506(c)(2)(A)]. This program helps to ensure that requested data can be provided in the desired format, reporting burden (time and financial resources) is minimized, collection instruments are clearly understood, and the impact of collection requirements on respondents can be properly assessed. The Bureau of Labor Statistics
(BLS)is soliciting comments concerning the proposed extension of the “Report on Current Employment Statistics.” A copy of the proposed information collection request
(ICR)can be obtained by contacting the individual listed below in the ADDRESSES section of this notice. DATES: Written comments must be submitted to the office listed in the ADDRESSES section of this notice on or before April 8, 2008. ADDRESSES: Send comments to Amy A. Hobby, BLS Clearance Officer, Division of Management Systems, Bureau of Labor Statistics, Room 4080, 2 Massachusetts Avenue, NE., Washington, DC 20212, 202-691-7628. (This is not a toll free number.) FOR FURTHER INFORMATION CONTACT: Amy A. Hobby, BLS Clearance Officer, 202-691-7628. (See ADDRESSES section.) SUPPLEMENTARY INFORMATION: I. Background The Current Employment Statistics
(CES)program provides current monthly statistics on employment, hours, and earnings, by industry and geography. CES estimates are among the most visible and widely-used Principal Federal Economic Indicators (PFEIs). CES data also are among the timeliest of the PFEIs, with their release each month by the BLS in the *Employment Situation* , typically on the first Friday of each month. The statistics are fundamental inputs in economic decision processes at all levels of government, private enterprise, and organized labor. The CES monthly estimates of employment, hours, and earnings are based on a sample of U.S. nonagricultural establishments. Information is derived from approximately 260,000 reports (representing about 150,000 Unemployment Insurance
(UI)accounts and 390,000 individual worksites), as of January 2008. Each month, firms report their employment, payroll, and hours on forms identified as the BLS-790. The sample is collected under a probability based design. Puerto Rico and the Virgin Islands collect an additional 4,800 reports using a quota sample. A list of all form types currently used is listed below in the Desired Focus of Comments section of this notice. Respondents receive variations of the basic collection forms, depending on their industry. The BLS is requesting approval through February 29, 2011. The CES program is a voluntary program under Federal statute (29 U.S.C. 2). Reporting to the State agencies is voluntary in all but four States (Oregon, Washington, North Carolina, South Carolina), Puerto Rico, and the Virgin Islands. To our knowledge, the States that do have mandatory reporting rarely exercise their authority. The collection form's confidentiality statement cites the Confidential Information Protection and Statistical Efficiency Act of 2002 and mentions the State mandatory reporting authority. II. Current Action Office of Management and Budget clearance is being sought for the Report on Current Employment Statistics. Automated data collection methods are now used for most of the CES sample. Approximately 115,000 reports are received through Electronic Data Interchange and 56,100 reports are collected using Computer Assisted Telephone Interviewing, as of January 2008. Touchtone Data Entry is the third largest mode, accounting for 37,100 reports. In comparison, only 4,300 reports are collected by mail. Fax also is a significant collection mode, as 16,200 reports are collected via this method. Web collection is rapidly increasing in importance as approximately 14,200 reports were collected as of January 2008. The balance of the sample is collected through other automated methods, including submission of tapes, diskettes, and e-mail. The BLS has decided to significantly increase the use of Web for CES data collection. Web when compared to Touchtone Data Entry has higher response rates. The BLS also has decided to stop research on fax optical character recognition collection due to cost and technical considerations. Instead, firms are offered the opportunity to submit an Excel file in a standard format through the BLS Web site. III. Desired Focus of Comments The Bureau of Labor Statistics is particularly interested in comments that: • 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. • Evaluate the accuracy of the agency's estimate of the burden of the proposed collection of information, including the validity of the methodology and assumptions used. • Enhance the quality, utility, and clarity of the information to be collected. • Minimize the burden of the collection of information on those who are to respond, including through the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology, e.g., permitting electronic submissions of responses. *Type of Review:* Extension, without change, of a currently approved collection. *Agency:* Bureau of Labor Statistics. *Title:* Report on Current Employment Statistics. *OMB Number:* 1220-0011. *Affected Public:* State or local governments; businesses or other for-profit; non-profit institutions; small businesses or organizations. Form Reports Minutes per report Frequency of response Annual responses Annual burden hours A—Natural Resources and Mining 1,400 11 12 16,800 3,080 B—Construction 11,900 11 12 142,800 26,180 C—Manufacturing 12,600 11 12 151,200 27,720 E—Service Providing Industries 169,600 11 12 2,035,200 373,120 G—Public Administration 43,300 6 12 519,600 51,960 S—Education 9,100 6 12 109,200 10,920 Private Fax form 16,100 11 12 193,200 35,420 Public Administration Fax Form 300 6 12 3,600 360 Education Fax Form 400 6 12 4,800 480 Total 264,700 3,176,400 529,240 *Total Burden Cost (capital/startup):* $0 *Total Burden Cost (operating/maintenance):* $0. Comments submitted in response to this notice will be summarized and/or included in the request for Office of Management and Budget approval of the information collection request; they also will become a matter of public record. Signed at Washington, DC, this 4th day of February 2008. Cathy Kazanowski, Chief, Division of Management Systems, Bureau of Labor Statistics. [FR Doc. E8-2338 Filed 2-7-08; 8:45 am] BILLING CODE 4510-24-P NATIONAL ARCHIVES AND RECORDS ADMINISTRATION Records Schedules; Availability and Request for Comments AGENCY: National Archives and Records Administration (NARA). ACTION: Notice of availability of proposed records schedules; request for comments. SUMMARY: The National Archives and Records Administration
(NARA)publishes notice at least once monthly of certain Federal agency requests for records disposition authority (records schedules). Once approved by NARA, records schedules provide mandatory instructions on what happens to records when no longer needed for current Government business. They authorize the preservation of records of continuing value in the National Archives of the United States and the destruction, after a specified period, of records lacking administrative, legal, research, or other value. Notice is published for records schedules in which agencies propose to destroy records not previously authorized for disposal or reduce the retention period of records already authorized for disposal. NARA invites public comments on such records schedules, as required by 44 U.S.C. 3303a(a). DATES: Requests for copies must be received in writing on or before March 10, 2008. Once the appraisal of the records is completed, NARA will send a copy of the schedule. NARA staff usually prepare appraisal memorandums that contain additional information concerning the records covered by a proposed schedule. These, too, may be requested and will be provided once the appraisal is completed. Requesters will be given 30 days to submit comments. ADDRESSES: You may request a copy of any records schedule identified in this notice by contacting the Life Cycle Management Division
(NWML)using one of the following means: *Mail:* NARA (NWML), 8601 Adelphi Road, College Park, MD 20740-6001. *E-mail:* *requestschedule@nara.gov* . *Fax:* 301-837-3698. Requesters must cite the control number, which appears in parentheses after the name of the agency which submitted the schedule, and must provide a mailing address. Those who desire appraisal reports should so indicate in their request. FOR FURTHER INFORMATION CONTACT: Laurence Brewer, Director, Life Cycle Management Division (NWML), National Archives and Records Administration, 8601 Adelphi Road, College Park, MD 20740-6001. Telephone: 301-837-1539. E-mail: *records.mgt@nara.gov* . SUPPLEMENTARY INFORMATION: Each year Federal agencies create billions of records on paper, film, magnetic tape, and other media. To control this accumulation, agency records managers prepare schedules proposing retention periods for records and submit these schedules for NARA's approval, using the Standard Form
(SF)115, Request for Records Disposition Authority. These schedules provide for the timely transfer into the National Archives of historically valuable records and authorize the disposal of all other records after the agency no longer needs them to conduct its business. Some schedules are comprehensive and cover all the records of an agency or one of its major subdivisions. Most schedules, however, cover records of only one office or program or a few series of records. Many of these update previously approved schedules, and some include records proposed as permanent. No Federal records are authorized for destruction without the approval of the Archivist of the United States. This approval is granted only after a thorough consideration of their administrative use by the agency of origin, the rights of the Government and of private persons directly affected by the Government's activities, and whether or not they have historical or other value. Besides identifying the Federal agencies and any subdivisions requesting disposition authority, this public notice lists the organizational unit(s) accumulating the records or indicates agency-wide applicability in the case of schedules that cover records that may be accumulated throughout an agency. This notice provides the control number assigned to each schedule, the total number of schedule items, and the number of temporary items (the records proposed for destruction). It also includes a brief description of the temporary records. The records schedule itself contains a full description of the records at the file unit level as well as their disposition. If NARA staff has prepared an appraisal memorandum for the schedule, it too includes information about the records. Further information about the disposition process is available on request. Schedules Pending 1. Department of Agriculture, Cooperative State Research, Education, and Extension Service (N1-540-07-6, 18 items, 14 temporary items). Records of the Office of Communications, including FOIA coordination records, working files, drafts, routine or internal photographs and media relations records, and web site content, management, and technical records. Proposed for permanent retention are recordkeeping copies of significant, mission-related publications, photographs, and films. This schedule authorizes the agency to apply the proposed disposition instructions to any recordkeeping medium. 2. Department of Energy, Bonneville Power Administration (N1-305-07-1, 94 items, 82 temporary items). Comprehensive agency-wide schedule covering the records of 21 agency functions, including power generation; power transmission; power sales and marketing; transmission load; agency management and policy development; law and litigation; human resources; training; procurement, billing, budget, and accounting; property asset management; facilities, equipment, and vehicles; environmental compliance; energy conservation; safety and risk management; security; document management and workflow; news releases and publications; digital systems maintenance; geographic information systems; computer assisted design; internet and intranet services; weather and stream-flow; and reference. Proposed for permanent retention are recordkeeping copies of policy and procedure decisions for new and advanced technologies and methodologies, environmental impact statements and supporting documentation, Office of Management and Budget and congressional budget requests with supporting documentation, agency organization files, significant litigation case files, wildlife agreements and mitigation plans that establish policy precedents, strategic infrastructure policy development files, significant environmental compliance documentation, policy and procedures governing the sale and conservation of energy that apply new and advanced technologies, publications, geographic information system data layers and metadata for maps, and computer assisted design drawings for mission-related equipment and structures. This schedule authorizes the agency to apply the proposed disposition instructions to any recordkeeping medium, except for certain geographic information system and computer assisted design records. 3. Department of Energy, Office of Scientific and Technical Information (N1-434-06-1, 4 items, 2 temporary items). Records relating to agency final reports of scientific and technical projects. Included are paper and microform copies of final reports. Proposed for permanent retention are electronic copies of final reports and a cumulative index. 4. Department of Health and Human Services, Food and Drug Administration (N1-88-04-4, 8 items, 6 temporary items). Public calendars, employee newsletters, publication approvals, materials used to respond to public inquiries, and annual FOIA Reports. Proposed for permanent retention are recordkeeping copies of press releases and publications. This schedule authorizes the agency to apply the proposed disposition instructions to any recordkeeping medium. 5. Department of Homeland Security, Science and Technology Directorate (N1-563-07-18, 1 item, 1 temporary item). Master file of an electronic information system used to assess the status of coordination and cooperation between emergency response agencies at the local, tribal, state and federal level. 6. Department of Homeland Security, U.S. Customs and Border Protection (N1-568-07-1, 1 item, 1 temporary item). Master file for an electronic information system used to track passengers departing for and arriving from the European Union. 7. Department of Justice, Bureau of Alcohol, Tobacco, Firearms, and Explosives (N1-436-07-6, 2 items, 2 temporary items). Master file and outputs of the Online LEAD System which makes available to law enforcement agencies a copy of Firearms Tracing System data, which was previously approved as permanent. 8. Department of Justice, Federal Bureau of Investigation (N1-65-07-21, 12 items, 12 temporary items). Records of the Counterterrorism Division including inputs, master files, system documentation and backups associated with an electronic information system used to collect and disseminate information about terrorist related threats and suspicious activities. Also included are shift transition and security audit logs, briefing books, and summaries. This schedule authorizes the agency to apply the proposed disposition instructions to any recordkeeping medium. 9. Department of State, Overseas Buildings Operations (N1-59-07-8, 4 items, 4 temporary items.). Records documenting technical aspects of construction progress for the new U.S. embassy compound in Baghdad, Iraq. Records include digital images and hard copy printouts, weekly construction status reports, and quality assurance reports. 10. Department of State, Bureau of Population, Refugees, and Migration (N1-59-08-3, 4 items, 3 temporary items). Proposal process files and Worldwide Refugee Admissions Processing System (WRAPS) master file and outputs accumulated by the Office of Refugee Admission. Proposed for permanent retention are recordkeeping copies of voluntary agency and affiliate monitoring reports. 11. Department of State, All Foreign Service Posts (N1-84-08-2, 9 items, 9 temporary items). Refugee coordinator files, fiscal records, correspondence with voluntary agencies, voluntary agency employee case files, and refugee case files. 12. Department of the Treasury, Internal Revenue Service (N1-58-08-7, 1 item, 1 temporary item). Revenue Procedure 92-29 case project files and supporting documents relating to tax on common improvements to real estate. 13. Department of the Treasury, Office of Thrift Supervision (N1-483-08-1, 48 items, 48 temporary items). This schedule authorizes the agency to apply the existing disposition instructions to records series regardless of recordkeeping medium. The records include correspondence files, congressional requests and response files, disaster recovery files, subject files, chronological files, signature files and report files. Paper recordkeeping copies of these files were previously approved for disposal. 14. Environmental Protection Agency, Headquarters (N1-412-07-26, 1 item, 1 temporary item). This schedule authorizes the agency to apply existing disposition instructions to records regardless of the recordkeeping medium. The records consist of certification statements and correspondence from importers of chemical substances or mixtures documenting receipt of shipment as well as certifying compliance with provisions of the Toxic Substances Control Act. Paper recordkeeping copies of these files were previously approved for disposal. 15. Environmental Protection Agency, Regional Offices (N1-412-07-32, 1 item, 1 temporary item). This schedule authorizes the agency to apply existing disposition instructions to records regardless of the recordkeeping medium. The records consist of regional toxic substance files related to monitoring and compliance activities under the Toxic Substances Control Act. Paper recordkeeping copies of these files were previously approved for disposal. 16. Social Security Administration, Office of Disability and Income Security Programs (N1-47-08-1, 11 items, 11 temporary items). Records related to eligibility for new or continuing benefits under Title XVIII of the Social Security Act. The records in this schedule were previously approved for disposal; this schedule revises the description and/or disposition for certain of these records. This schedule authorizes the agency to apply the proposed disposition instructions to any recordkeeping medium. Dated: February 4, 2008. Michael J. Kurtz, Assistant Archivist for Records Services—Washington, DC. [FR Doc. E8-2447 Filed 2-7-08; 8:45 am] BILLING CODE 7515-01-P NATIONAL SCIENCE FOUNDATION Committee on Equal Opportunities in Science and Engineering (CEOSE); Notice of Meeting In accordance with the Federal Advisory Committee Act (Pub. L. 92-463, as amended), the National Science Foundation announces the following meeting: *Name:* Committee on Equal Opportunities in Science and Engineering (1173). *Dates/Time:* February 25, 2008, 8:30 a.m.-5:30 p.m. and February 26, 2008, 8:30 a.m-2 p.m. *Place:* National Science Foundation, 4201 Wilson Boulevard, Arlington, VA 22230. Building entry badges must be obtained at the above address; the meeting will be held in Room 1235 of the National Science Foundation Building located at 4201 Wilson Boulevard in Arlington, Virginia. *Type of Meeting:* Open. *Contact Person:* Dr. Margaret E.M. Tolbert, Senior Advisor and Executive Liaison, CEOSE, Office of Integrative Activities, National Science Foundation, 4201 Wilson Boulevard, Arlington, VA 22230. Telephone:
(703)292-8040. *mtolbert@nsf.gov* . *Minutes:* May be obtained from the Executive Liaison at the above address. *Purpose of Meeting:* To provide advice and recommendations concerning broadening participation in science and engineering. *Agenda:* Monday, February 25, 2008 Welcome and Opening Statement by the CEOSE Chair; Introductions *Presentations and Discussions:* • Key Points of the Meeting between the CEOSE Chair and the Director of the National Science Foundation. • NAS Committee on Underrepresented Groups and the Expansion of the Science and Engineering Workforce Pipeline. • Discussion with the Director of the National Science Foundation. • The NSF Budget and Its Implications for Broadening Participation and the CEOSE Path Forward. • The America Competes Act. • Reports on NSF Advisory Committee Meetings by CEOSE Liaisons. • Report of the CEOSE *Ad Hoc* Subcommittee on Strategic Planning. • Report of the CEOSE *Ad Hoc* Subcommittee on Broadening Participation. Tuesday, February 26, 2008 Opening Statement by the CEOSE Chair *Presentations and Discussions:* • Report of the CEOSE *Ad Hoc* Subcommittee on Persons with Disabilities—Follow-up Actions pertinent to the Mini-Symposium Held on October 15, 2007. • Report of the CEOSE *Ad Hoc* Subcommittee on Accountability, Evaluation, and Communications—“ *Joining Forces to Broaden Participation in Science and Engineering Strategies for Inter-Agency Collaborations* ”, the Multi-Federal Agency Study. • Action Items and Recommendations. • Completion of Unfinished Business. Dated: February 5, 2008. Susanne Bolton, Committee Management Officer. [FR Doc. E8-2334 Filed 2-7-08; 8:45 am] BILLING CODE 7555-01-P NUCLEAR REGULATORY COMMISSION Advisory Committee on Nuclear Waste and Materials; Revised The 186th Advisory Committee on Nuclear Waste and Materials (ACNW&M) meeting scheduled to be held February 12-14, 2008, Room T-2B3, Two White Flint North, 11545 Rockville Pike, Rockville, Maryland has been revised as noted below. Notice of this meeting was previously published in the **Federal Register** on Tuesday, January 29, 2008 (73 FR 5235-5236). The discussion of the item listed as the *Semiannual Briefing by the Office of Nuclear Materials Safety and Safeguards,* scheduled between 10:05 a.m. and 11:30 a.m. on Tuesday, February 12, 2008, has been cancelled. The discussion of *ACNW&M Letter Reports* previously scheduled between 11:30 a.m. and 12 p.m. on Tuesday, February 12, 2008, will be scheduled between 10:05 a.m. and 12 p.m. that same day. The discussion of the item listed as *Draft Guidance on Preventing Legacy Sites,* scheduled between 1 p.m. and 2:30 p.m. on Tuesday, February 12, 2008, has been cancelled. A new discussion listed as *International Commission on Radiological Protection
(ICRP)Recommendations—Final Report 103* has been added for Tuesday, February 12, 2008, between 1 p.m. and 1:30 p.m. The discussion of the item listed as *Corrosion of Waste Package and Spent Fuel Dissolution in a Repository Environment* previously scheduled between 2:45 p.m. and 4 p.m. on February 12, 2008, will be scheduled from 1:45 p.m. to 3 p.m. that same day. The discussion of ACNW&M Letters and Reports previously scheduled between 4 p.m. and 5:30 p.m. on February 12, 2008, will be scheduled between 3 p.m. and 5:30 p.m. that same day. For further information, contact Mr. Antonio L. Dias, (Telephone 301-415-6805), between 6:45 a.m. and 4:30 p.m., EST. Dated: February 4, 2008. Andrew L. Bates, Advisory Committee Management Office. [FR Doc. E8-2385 Filed 2-7-08; 8:45 am] BILLING CODE 7590-01-P NUCLEAR REGULATORY COMMISSION [Docket Nos. 52-014 and 52-015] Tennessee Valley Authority; Notice of Hearing and Opportunity To Petition for Leave To Intervene on a Combined License for Bellefonte Units 3 and 4 Pursuant to the Atomic Energy Act of 1954, as amended, and the regulations in Title 10 of the *Code of Federal Regulations* (10 CFR) part 2, “Rules of Practice for Domestic Licensing Proceedings and Issuance of Orders,” 10 CFR part 50, “Domestic Licensing of Production and Utilization Facilities,” and 10 CFR part 52, “Early Site Permits; Standard Design Certifications; and Combined Licenses for Nuclear Power Plants,” notice is hereby given that a hearing will be held, at a time and place to be set in the future by the U.S. Nuclear Regulatory Commission (NRC, the Commission) or designated by the Atomic Safety and Licensing Board (Board). The hearing will consider the application dated October 30, 2007, filed by Tennessee Valley Authority, pursuant to subpart C of 10 CFR part 52, for a combined license (COL). The application, which was supplemented by letters dated November 2, 2007, January 8, 2008, and January 14, 2008, requests approval of a COL for Bellefonte Units 3 and 4 located near the town of Scottsboro in Jackson County, Alabama. The application was accepted for docketing on January 18, 2008. The docket numbers established for this application are 52-014 and 52-015. The hearing will be conducted by a Board that will be designated by the Chairman of the Atomic Safety and Licensing Board Panel or by the Commission. Notice as to the membership of the Board will be published in the **Federal Register** at a later date. The NRC staff will complete a detailed technical review of the application and will document its findings in a safety evaluation report (SER). The Commission will refer a copy of the application to the Advisory Committee on Reactor Safeguards
(ACRS)in accordance with 10 CFR 52.87, “Referral to the Advisory Committee on Reactor Safeguards (ACRS),” and the ACRS will report on those portions of the application that concern safety. Any person whose interest may be affected by this proceeding and desires to participate as a party to this proceeding must file a written petition for leave to intervene in accordance with 10 CFR 2.309. Those permitted to intervene become parties to the proceeding, subject to any limitations in the order granting leave to intervene, and have the opportunity to participate fully in the conduct of the hearing. A request for hearing or a petition for leave to intervene must be filed in accordance with the NRC E-Filing rule, which was promulgated by the NRC on August 28, 2007 (72 FR 49139). The E-Filing process requires participants to submit and serve documents over the internet or in some cases to mail copies on electronic storage media. Participants may not submit paper copies of their filings unless they seek a waiver in accordance with the procedures described below. To comply with the procedural requirements of E-Filing, at least five
(5)days prior to the filing deadline, the petitioner/requestor must contact the Office of the Secretary by e-mail at *HearingDocket@nrc.gov* , or by calling
(301)415-1677, to request
(1)a digital ID certificate, which allows the participant (or its counsel or representative) to digitally sign documents and access the E-Submittal server for any proceeding in which it is participating; and/or
(2)creation of an electronic docket for the proceeding even in instances in which the petitioner/requestor (or its counsel or representative) already holds a NRC-issued digital ID certificate. Each petitioner/requestor will need to download the Workplace Forms Viewer TM to access the Electronic Information Exchange (EIE), a component of the E-Filing system. The Workplace Forms Viewer TM is free and is available at *http://www.nrc.gov/site-help/e-submittals/install-viewer.html* . Information about applying for a digital ID certificate is available on NRC's public Web site at *http://www.nrc.gov/site-help/e-submittals/apply-certificates.html* . Once a petitioner/requestor has obtained a digital ID certificate, had a docket created, and downloaded the EIE viewer, it can then submit a request for hearing or petition for leave to intervene. Submissions should be in Portable Document Format
(PDF)in accordance with NRC guidance available on the NRC public Web site at *http://www.nrc.gov/site-help/e-submittals.html* . A filing is considered complete at the time the filer submits its documents through EIE. To be timely, an electronic filing must be submitted to the EIE system no later than 11:59 p.m. Eastern Standard Time on the due date. Upon receipt of a transmission, the E-Filing system time-stamps the document and sends the submitter an e-mail notice confirming receipt of the document. The EIE system also distributes an e-mail notice that provides access to the document to the NRC Office of the General Counsel and any others who have advised the Office of the Secretary that they wish to participate in the proceeding, so that the filer need not serve the documents on those participants separately. Therefore, applicants and other participants (or their counsel or representative) must apply for and receive a digital ID certificate before a hearing request/petition to intervene is filed so that they can obtain access to the document via the E-Filing system. A person filing electronically may seek assistance through the “Contact Us” link located on the NRC Web site at *http://www.nrc.gov/site-help/e-submittals.html* or by calling the NRC technical help line, which is available between 8:30 a.m. and 4:15 p.m., Eastern Standard Time, Monday through Friday. The help line number is
(800)397-4209 or, locally,
(301)415-4737. Participants who believe that they have a good cause for not submitting documents electronically must file a motion, in accordance with 10 CFR 2.302(g), with their initial paper filing requesting authorization to continue to submit documents in paper format. Such filings must be submitted by:
(1)First-class mail addressed to the Office of the Secretary of the Commission, U.S. Nuclear Regulatory Commission, Washington, DC 20555-0001, Attention: Rulemaking and Adjudications Staff; or
(2)courier, express mail, or expedited delivery service to the Office of the Secretary, Sixteenth Floor, One White Flint North, 11555 Rockville Pike, Rockville, Maryland 20852, Attention: Rulemaking and Adjudications Staff. Participants filing a document in this manner are responsible for serving the document on all other participants. Filing is considered complete by first-class mail as of the time of deposit in the mail, or by courier, express mail, or expedited delivery service upon depositing the document with the provider of the service. Non-timely requests and/or petitions and contentions will not be entertained absent a determination by the Commission, the presiding officer, or the Atomic Safety and Licensing Board that the petition and/or request should be granted and/or the contentions should be admitted based on a balancing of the factors specified in 10 CFR 2.309(c)(1)(i)-(viii). To be timely, filing must be submitted no later than 11:59 p.m. Eastern Standard Time on the due date. Documents submitted in adjudicatory proceedings will appear in the NRC's electronic hearing docket, which is available to the public at *http://ehd.nrc.gov/EHD_Proceeding/home.asp* , unless excluded pursuant to an order of the Commission, the Atomic Safety and Licensing Board, or a presiding officer. Participants are requested not to include personal privacy information, such as social security numbers, home addresses, or home phone numbers in the filing. With respect to copyrighted works, except for limited excerpts that serve the purpose of the adjudicatory filing and would constitute a Fair Use application, participants are requested not to include copyrighted materials in their submission. Petitions for leave to intervene must be filed no later than 60 days from the date of publication of this notice in the **Federal Register** . Non-timely filings will not be entertained absent a determination by the Commission or Board designated to rule on the petition, pursuant to the requirements of 10 CFR 2.309(c)(1)(i)-(viii). A person who is not a party may be permitted to make a limited appearance by making an oral or written statement of his position on the issues at any session of the hearing or any pre-hearing conference within the limits and conditions fixed by the presiding officer, but may not otherwise participate in the proceeding. Documents may be examined, and/or copied for a fee, at the NRC's Public Document Room (PDR), located at One White Flint North, Public File Area O1 F21, 11555 Rockville Pike (first floor), Rockville, Maryland, and will be accessible electronically through the Agencywide Documents Access and Management System (ADAMS) Public Electronic Reading Room link at the NRC Web site *http://www.nrc.gov/reading-rm/adams.html* . Persons who do not have access to ADAMS or who encounter problems in accessing documents located in ADAMS should contact the NRC PDR Reference staff by telephone at 1-800-397-4209, or 301-415-4737, or by e-mail to *pdr@nrc.gov* . The application is also available at *http://www.nrc.gov/reactors/new-licensing/col.html* . The ADAMS accession number for the application is ML073110527. The ADAMS accession numbers for the supplements to the application are ML073090428, ML080100104, ML080160252. Some of the supplements contain information that is sensitive and these supplements are not available to the public. Dated at Rockville, Maryland, this 4th day of February 2008. For the Nuclear Regulatory Commission. Annette L. Vietti-Cook, Secretary of the Commission. [FR Doc. E8-2384 Filed 2-7-08; 8:45 am] BILLING CODE 7590-01-P OFFICE OF PERSONNEL MANAGEMENT Comment Request for Review of a Revised Information Collection: OPM Online Form 1417 AGENCY: Office of Personnel Management. ACTION: Notice. SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (Pub. L. 104-13, May 22, 1995), this notice announces that the Office of Personnel Management
(OPM)intends to submit to the Office of Management and Budget
(OMB)a request for clearance of a revised information collection. OPM Online Form 1417, the Combined Federal Campaign
(CFC)Information System form, collects information from the 277 local CFC campaigns to verify campaign results and collect contact information. Revisions to the form include clarifying edits to items numbered 2-6, 9 and 10 of the Campaign Results Total Page, the elimination of questions numbered 13-15 of the Campaign Results Total Page and the return of one question edited to collect pledge amounts designated specifically for federal emergency or disaster relief, if any, on the Campaign Results Total Page. We estimate 277 Online OPM Forms 1417 are completed annually. Each form takes approximately 20 minutes to complete. The annual estimated burden is 101 hours. Comments are particularly invited on: Whether this information is necessary for the proper performance of functions of the Office of Personnel Management, and whether it will have practical utility; whether our estimate of the public burden of this collection of information is accurate, and based on valid assumptions and methodology; and ways in which we can minimize the burden of the collection of information on those who are to respond, through the appropriate use of technological collection techniques or other forms of information technology. For copies of this proposal, contact Mary Beth Smith-Toomey on
(202)606-8358, FAX
(202)418-3251 or E-mail to *mbtoomey@opm.gov* . Please be sure to include a mailing address with your request. DATES: Comments on this proposal should be received within 60 calendar days from the date of this publication. ADDRESSES: Send or deliver comments to—Cherlynn Stevens, Office of the Combined Federal Campaign, U.S. Office of Personnel Management, 1900 E Street, NW., Room 5450, Washington, DC 20415. U.S. Office of Personnel Management. Howard Weizmann, Deputy Director. [FR Doc. E8-2291 Filed 2-7-08; 8:45 am] BILLING CODE 6325-46-P OFFICE OF PERSONNEL MANAGEMENT Proposed Collection; Comment Request for Review of a Revised Information Collection: RI 25-37 AGENCY: Office of Personnel Management. ACTION: Notice. SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (Pub. L. 104-13, May 22, 1995), this notice announces that the Office of Personnel Management
(OPM)intends to submit to the Office of Management and Budget
(OMB)a request for review of a revised information collection. RI 25-37, Evidence to Prove Dependency of a Child, is designed to collect sufficient information for OPM to determine whether the surviving child of a deceased federal employee is eligible to receive benefits as a dependent child. Comments are particularly invited on: whether this collection of information is necessary for the proper performance of functions of the Office of Personnel Management, and whether it will have practical utility; whether our estimate of the public burden of this collection of information is accurate, and based on valid assumptions and methodology; and ways in which we can minimize the burden of the collection of information on those who are to respond, through use of the appropriate technological collection techniques or other forms of information technology. Approximately 250 forms are completed annually. We estimate it takes approximately 60 minutes to assemble the needed documentation. The annual estimated burden is 250 hours. For copies of this proposal, contact Mary Beth Smith-Toomey on
(202)606-8358, Fax
(202)418-3251 or via E-mail to *MaryBeth.Smith-Toomey@opm.gov* . Please include your mailing address with your request. DATES: Comments on this proposal should be received within 60 calendar days from the date of this publication. ADDRESSES: Send or deliver comments to—Ronald W. Melton, Deputy Assistant Director, Retirement Services Program, Center for Retirement and Insurance Services, U.S. Office of Personnel Management, 1900 E Street, NW., Room 3305, Washington, DC 20415-3500. *For Information Regarding Administrative Coordination—Contact:* Cyrus S. Benson, Team Leader, Publications Team, RIS Support Services/Support Group,
(202)606-0623. Office of Personnel Management. Howard Weizmann, Deputy Director. [FR Doc. E8-2315 Filed 2-7-08; 8:45 am] BILLING CODE 6325-38-P SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request; Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549-0213. *New Information Collection:* Study on the Impact of Companies' Compliance with the Requirements Implementing section 404 of the Sarbanes-Oxley Act of 2002; OMB Control No. 3235-xxxx; SEC File No. 270-575. Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 *et seq.* ) the Securities and Exchange Commission (“Commission”) is soliciting comments on the collection of information summarized below. The Commission plans to submit this collection of information to the Office of Management and Budget for approval. The Commission staff plans to undertake a study that will involve collecting and analyzing empirical data regarding the impact on public companies of compliance with the requirements implementing section 404 of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7262). The study will consider whether recent actions by the Commission and the Public Company Accounting Oversight Board are having their intended effect of increasing efficiency and lowering compliance costs. Participation in the study will be voluntary. Participants in the study are expected to include companies subject to the reporting requirements under section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(a) or 15 U.S.C. 78o(d)), as well as financial analysts, auditors, investors and other interested parties. We plan to invite up to 10,000 respondents to participate in the study. If all of these respondents participate in the study at an average estimated 1 hour per response, the total annual burden will be 10,000 hours. In addition, we also plan to conduct a follow-up survey and in-depth interviews with up to 500 respondents, at an estimated two hours per response, for a total annual burden of approximately 1,000 hours. Therefore, the total aggregate burden associated with the study is an estimated 11,000 hours. Written comments are invited on:
(a)Whether this proposed collection of information is necessary for the performance of the functions of the agency, including whether the information will have practical utility;
(b)the accuracy of the agency's estimate of the burden imposed by the collection of information;
(c)ways to enhance the quality, utility, and clarity of the information collected; and
(d)ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. Consideration will be given to comments and suggestions submitted in writing within 60 days of this publication. Please direct your written comment to R. Corey Booth, Director/Chief Information Officer, Securities and Exchange Commission, C/O Shirley Martinson, 6432 General Green Way, Alexandria, Virginia 22312; or send an e-mail to: *PRA_Mailbox@sec.gov* . February 5, 2008. Florence E. Harmon, Deputy Secretary. [FR Doc. E8-2345 Filed 2-7-08; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57268; File No. SR-Amex-2006-31] Self-Regulatory Organizations; American Stock Exchange LLC; Order Approving Proposed Rule Change, as Modified by Amendment Nos. 1, 2, and 3 Thereto, Relating to Annual Shareholder Meeting Requirements February 4, 2008. I. Introduction On April 7, 2006, the American Stock Exchange LLC (“Amex” or “Exchange”) filed with the Securities and Exchange Commission (“Commission”), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”) 1 and Rule 19b-4 thereunder, 2 a proposed rule change to amend Section 704 (Annual Meetings) of the Amex *Company Guide* . 3 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. The proposed rule change, as amended by Amendment Nos. 1 and 2 thereto, was published for comment in the **Federal Register** on December 28, 2007. 4 On January 4, 2008, the Exchange filed Amendment No. 3 to the proposed rule change. 5 The Commission received no comments regarding the proposal. This order approves the proposed rule change, as modified by Amendment Nos. 1, 2 and 3 thereto. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. 3 *See* Section 704 of the Amex *Company Guide* . 4 *See* Securities Exchange Act Release No. 57016 (December 20, 2007), 72 FR 73911. 5 In Amendment No. 3, Amex made several minor typographical corrections to the proposed rule text of Exhibit 5 to accurately reflect the names of certain securities. Because Amendment No. 3 is technical in nature, it is not subject to notice and comment. II. Description of the Proposal 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 its fiscal year end; and
(2)an issuer does not have to hold an annual meeting in the same year in which it completes its initial public offering. 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. 6 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 stated in its filing that the *Company Guide* should specifically exempt from such requirement those operating companies which do not issue common stock or voting preferred stock. 7 6 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. 7 The Commission notes that issuers of convertible bonds and/or debentures listed pursuant to Section 104 of the Amex *Company Guide* are not exempt from the annual shareholder meeting requirement because such issuers must hold annual shareholder meetings with respect to the underlying common stock. *See infra* note 15 and accompanying text. 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. 8 In addition, UITs do not have boards of directors, which the UITs' unitholders would need to elect. 9 Accordingly, the Exchange submits that Section 704 of the Amex Company Guide should specifically exclude ETFs from the annual shareholder meeting requirement. 8 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. 9 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 further proposes to exempt from the annual meeting requirement issuers of a variety of trust issued receipts (“TIRs”) 10 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 11 and Currency Trust Shares. 12 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. 13 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. 14 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. 10 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. 11 *See* Amex Rule 1200A. 12 *See* Amex Rule 1200B. 13 *See* Amex Rule 1500. 14 *See* Amex Rule 1400. For these reasons, Amex states that it 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. 15 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. 15 *See* proposed Commentary .01 to Section 704 of the Amex *Company Guide. See also supra* note 7. 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 part of the rules governing suspension and delisting under Section 1009(a)(i) of the *Company Guide* . 16 Amex states that it currently does not rely on such 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. 16 *See* Section 1009(a) of the Amex *Company Guide.* III. Discussion 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. 17 In particular, the Commission believes that the proposal is consistent with Section 6(b)(5) of the Act, 18 which requires, among other things, that the rules of a national securities exchange 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 in general, to protect investors and the public interest. 17 In approving this proposed 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 Commission believes that the Exchange's proposal relating to the annual shareholder meeting requirement for listed issuers is consistent with the Act. Specifically, the Commission believes that clarifying that the 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, the time frame within which such issuer is required to hold its annual shareholder meeting, and the general exceptions to this proposed rule will provide additional transparency and certainty to the annual shareholder meeting requirement. In addition, with respect to the proposed list of securities, the issuers of which would be exempt under the Exchange's rules to hold an annual shareholder meeting, the Commission believes that the proposal furthers the removal of impediments to a free and open market while continuing to ensure the protection of investors and the public interest, two principles set forth in Section 6(b)(5) of the Act. The Commission believes the right of shareholders to vote at an annual meeting is an essential and important one. The Commission, however, agrees with Amex that the requirement to hold an annual shareholder meeting may not be 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 or on the affairs, operations, or policies of the company. The Commission notes that, although many of the securities proposed to be exempt from the general requirement are issued by operating companies that have also issued listed equity securities and would nevertheless be subject to the annual shareholder meeting requirement, only those issuers which do not issue common stock or voting preferred stock or their equivalent would be exempt from the annual shareholder meeting requirement. The Commission further notes that the proposed annual shareholder meeting requirement and the listed exemptions from such requirement do not supplant any applicable state or federal securities laws concerning annual shareholder meetings. 19 19 The Commission submits that listed issuers that would be exempt under Section 704 of the Amex *Company Guide,* as proposed, would not be precluded from holding special meetings of holders of the relevant securities. Finally, the Commission believes that Amex's proposal to remove the provisions relating to notification of a delayed annual shareholder meeting and the use of good faith efforts to hold such meeting as soon as reasonably practicable is consistent with the Act. The Exchange states that it does not rely on the notification requirement from issuers to monitor compliance of the annual shareholder meeting requirement, but, instead, actively utilizes a real-time electronic database and manual review of proxy statements or other Commission filings to determine compliance. It appears that Amex's notification procedures provide it with timely information to enforce compliance with the annual shareholder meeting requirement. Further, in the absence of a compelling regulatory concern, the Commission believes that it is a reasonable exercise of the Exchange's self-regulatory oversight to choose the means of best addressing compliance with its proposed annual shareholder meeting requirement. The Commission also notes that the proposal to remove the provision regarding the use of good faith efforts to hold the annual shareholder meeting as soon as reasonably practicable is similar to, and conforms with, the equivalent annual shareholder meeting rules of other national securities exchanges. 20 The Commission further notes that under the proposed rule change, companies will be required to hold their annual shareholder meeting within the specific time periods set forth in Section 704 of the Amex Company Guide. Thus, the new rule will require stricter adherence to the annual shareholder meeting requirement, in furtherance of the public interest and investor protection. Companies that do not comply with the annual shareholder meeting time periods will be in violation of the Exchange's new rules. 20 *See, e.g.* , Rule IM-4350-8 (Shareholder Meetings) of The NASDAQ Stock Market LLC; Sections 302 and 401 of the Listed Company Manual of the New York Stock Exchange LLC. IV. Conclusion *It is therefore ordered,* pursuant to Section 19(b)(2) of the Act, 21 that the proposed rule change (SR-Amex-2006-31), as modified by Amendment Nos. 1, 2, and 3 thereto, be, and it hereby is, approved. 21 15 U.S.C. 78s(b)(2). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 22 22 *See* 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E8-2347 Filed 2-7-08; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57263; File No. SR-Phlx-2007-91] Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc; Order Approving a Proposed Rule Change to Require a Non-Streaming Quote Trader Registered Option Traders (“non-SQT ROT”) to Submit a List of Options for Intended Assignment February 4, 2008. On December 12, 2007, the Philadelphia Stock Exchange, Inc. (“Phlx” or “Exchange”), filed with the Securities and Exchange Commission (“Commission”), pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”) 1 and Rule 19b-4 thereunder, 2 a proposed rule change to amend Exchange Rule 1014(b)(ii)(C) to require “non-SQT ROTs” (as defined below) to submit to the Exchange a list of the options in which such non-SQT ROT intends to be assigned to make markets. The proposed rule change was published for comment in the **Federal Register** on December 31, 2007. 3 The Commission received no comments on the proposal. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. 3 *See* Securities Exchange Act Release No. 57034 (December 21, 2007), 72 FR 74398. PHLX proposes to amend Exchange Rule 1014(b)(ii)(C) to require “non-SQT ROTs” 4 to notify the Exchange of each option, on an issue-by-issue basis, it intends to be assigned to make markets. Such notification would need to be made in writing on a form prescribed by the Exchange (an “ROT Assignment Form”). Any change to the ROT Assignment Form would have to be made in writing by the non-SQT ROT prior to the end of the trading session in which the change is to take place. Receipt of the properly completed ROT Assignment Form from a qualified non-SQT ROT applicant would constitute acceptance by the Exchange of the non-SQT ROT's assignment in, or termination of assignment in (as indicated on the ROT Assignment Form), the options listed on such ROT Assignment Form. If a non-SQT ROT applicant failed to qualify as an ROT on the Exchange, such assignments would be rendered ineffective and would be terminated. The proposed rule change is designed to facilitate the Exchange's ability to track the activities of non-SQT ROTs. 4 A Streaming Quote Trader (“SQT”) is a Registered Options Trader (“ROT”) that has received permission from the Exchange to generate and submit electronic option quotations electronically via an Exchange approved quoting device. *See* Exchange Rule 1014(b)(ii)(A). Non-SQT ROTs do not stream electronic quotations but make verbal markets upon request and have the ability to send limit orders to the limit order book via electronic interface with Phlx XL. 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. 5 In particular, the Commission finds that the proposed rule change is consistent with section 6(b)(5) of the Act, 6 which requires, among other things, that the Exchange's rules be designed 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. The Commission believes that the proposed notification requirement will assist the Exchange in monitoring the activities of non-SQT ROTs and should contribute to the Exchange's efforts to enhance the fair and orderly operation of the Exchange's market. 5 In approving this proposal, the Commission considered the proposed rule's impact on efficiency, competition and capital formation. 15 U.S.C. 78c(f). 6 15 U.S.C. 78f(b)(5). *It is therefore ordered* , pursuant to section 19(b)(2) of the Act, 7 that the proposed rule change (File No. SR-Phlx-2007-91) hereby is approved. 7 15 U.S.C. 78s(b)(2). Florence E. Harmon, Deputy Secretary. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 8 8 17 CFR 200.30-3(a)(12). [FR Doc. E8-2346 Filed 2-7-08; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57260; File No. SR-BSE-2008-06] Self-Regulatory Organizations; Boston Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Regarding a Proposed Combination Between the Montréal Exchange Inc. and TSX Group Inc. February 1, 2008 Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”) 1 and Rule 19b-4 thereunder, 2 notice is hereby given that on January 29, 2008, the Boston Stock Exchange, Inc. (“BSE” 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 by BSE. The Exchange filed the proposal as a “non-controversial” proposed rule change pursuant to Section 19(b)(3)(A)(iii) 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)(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 Exchange is submitting the proposed rule change to the Commission to amend the Fifth Amended and Restated Operating Agreement, dated January 26, 2005, as may be amended from time to time (“BOX LLC Agreement”), of the Boston Options Exchange Group LLC (“BOX LLC”), in connection with the proposed business combination (the “Combination”) of the Montréal Exchange Inc., 5 a company incorporated in Québec, Canada (“MX”), and TSX Group Inc., a company incorporated in Ontario, Canada (“TSX Group”). The text of the rule proposal, including the proposed Instrument of Accession, is available on the Exchange's Web site ( *http://www.bostonstock.com* ), at the Exchange, and at the Commission's Public Reference Room. 5 The Montréal Exchange Inc. is also known in French as the Bourse de Montréal Inc. II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, BSE 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. BSE 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 January 13, 2004, the Commission approved four BSE proposals that together established, through an operating agreement among its owners, a Delaware limited liability company, BOX LLC, to operate BOX as an options trading facility of the Exchange. 6 Currently, MX U.S. 2, Inc., a wholly owned U.S. subsidiary of MX (“MX US”), owns a 31.4% ownership interest in BOX LLC. 6 *See* Securities Exchange Act Release Nos. 49066 (January 13, 2004), 69 FR 2773 (January 20, 2004) (establishing a fee schedule for the proposed BOX facility); 49065 (January 13, 2004), 69 FR 2768 (January 20, 2004) (creating Boston Options Exchange Regulation LLC to which the BSE would delegate its self-regulatory functions with respect to the BOX facility); 49068 (January 13, 2004), 69 FR 2775 (January 20, 2004) (approving trading rules for the BOX facility); and 49067 (January 13, 2004), 69 FR 2761 (January 20, 2004) (approving certain regulatory provisions of the operating agreement of BOX LLC). The Exchange is submitting the proposed rule change to the Commission to amend the BOX LLC Agreement pursuant to the proposed Instrument of Accession in connection with the Combination of MX, the largest derivatives exchange in Canada, and TSX Group, which, among other things, owns Canada's pre-eminent equity market. As a result of the Combination, MX will become a direct 7 subsidiary of TSX Group, a publicly traded Ontario corporation. 8 The Combination will be effected through a series of amalgamations 9 involving intermediate holding companies, which will cease to exist following completion of the Combination. As a result of these transactions, MX will be amalgamated with a direct subsidiary of TSX Group. The amalgamated company also will be named Montréal Exchange Inc. and will be a Québec corporation. Consequently, MX U.S. (including MX US's 31.4% ownership interest in BOX LLC) will become an indirect, wholly owned subsidiary of TSX Group. The Combination is subject to the approval of the Autorité des marchés financiers (the securities regulator for the province of Québec, Canada) and the shareholders of MX, as well as other regulatory approvals. 7 Certain non-voting preference shares of MX will be owned by TSX Inc., a direct, wholly owned subsidiary of TSX Group. The share interests of TSX Group and TSX Inc. will together represent the entire ownership interest, voting and non-voting, in MX. 8 At its next shareholders' meeting after the effective date of the Combination, TSX Group will propose changing its name to TMX Group Inc. 9 The term “amalgamation” refers to the combination of two or more business entities into a single entity pursuant to which the combined entity becomes the successor in interest, by operation of law, to the rights and obligations of the combining entities. Amalgamations are commonly used in Canada to effect business combinations and are similar to mergers in the United States. Following the Combination, MX, MX US, and TSX Group will continue to operate their respective businesses in substantially the same manner as they had prior to the Combination, and MX and MX US senior management will remain under the stewardship of MX's current chief executive officer. 10 Additionally, the operations of each of MX and TSX Group will continue to be located in the same province in which it is currently located, and each will remain subject to its existing regulatory framework and oversight. Consequently, MX US's management of its ownership interest in BOX shall remain essentially unaffected by the Combination. 10 Organizational changes contemplated in connection with the Combination are described in the TSX Group registration statement separately filed with the Commission regarding the issuance of shares in connection with the Combination. Pursuant to Section 8.4(g) of the BOX LLC Agreement, BOX LLC is required to amend the BOX LLC Agreement to make an Acquirer 11 a party to the LLC Agreement if such Acquirer acquires a Controlling Interest 12 in a BOX Member who holds a percentage interest in BOX LLC equal to or greater than 20%. Therefore, since TSX Group is acquiring a Controlling Interest in MX, whose wholly owned subsidiary, MX US, owns a 31.4% ownership interest in BOX LLC, TSX Group, as an Acquirer, is required to and will become a party to the BOX LLC Agreement pursuant to the proposed Instrument of Accession. As a result, TSX Group will agree to abide by all the provisions of the BOX LLC Agreement, including those provisions requiring submission to the jurisdiction of the Commission. 13 11 An “Acquirer” is defined as ``a Person who, alone or together with any Affiliate of such Person, acquires a controlling interest in a Member.” *See* BOX LLC Agreement, Section 8.4(g)(ii). 12 A “Controlling Interest” is defined as “the ownership by any Person, alone or together with any Affiliate of such Person, of a 25% or greater interest in a Member.” *See* BOX LLC Agreement, Section 8.4(g)(i). 13 The BOX LLC Agreement states, in part, that “the Members, officers, directors, agents, and employees of Members irrevocably submit to the exclusive jurisdiction of the U.S. federal courts, U.S. Securities and Exchange Commission, and the Boston Stock Exchange, for the purposes of any suit, action or proceeding pursuant to U.S. federal securities laws, the rules or regulations thereunder, arising out of, or relating to, BOX activities or Article 19.6(a), (except that such jurisdictions shall also include Delaware for any such matter relating to the organization or internal affairs of BOX, provided that such matter is not related to trading on, or the regulation, of the BOX Market), and hereby waive, and agree not to assert by way of motion, as a defense or otherwise in any such suit, action or proceeding, any claims that they are not personally subject to the jurisdiction of the U.S. Securities and Exchange Commission, that the suit, action or proceeding is an inconvenient forum or that the venue of the suit, action or proceeding is improper, or that the subject matter hereof may not be enforced in or by such courts or agency.” *See* BOX LLC Agreement, Section 19.6. For the reasons stated above, BSE is submitting to the Commission the proposed Instrument of Accession, which constitutes an amendment to the BOX LLC Agreement, as a rule change. The proposed rule change is subject to becoming effective and operative pursuant to Section 19(b)(3)(A) of the Act 14 and Rule 19b-4(f)(6) 15 thereunder. BSE proposes to make this proposal operative upon the consummation of the Combination, currently anticipated in late February 2008. 14 15 U.S.C. 78s(b)(3)(A). 15 17 CFR 240.19b-4(f)(6). 2. Statutory Basis The Exchange believes that the proposal is consistent with the requirements of Section 6(b) of the Act, 16 in general, and furthers the objectives of Section 6(b)(1), 17 in particular, in that it enables the Exchange to be so organized so as to have the capacity to be able to carry out the purposes of the Act and to comply, and to enforce compliance by its exchange members and persons associated with its exchange members, with the provisions of the Act, the rules and regulations thereunder, and the rules of the Exchange. 16 15 U.S.C. 78f(b). 17 15 U.S.C. 78f(b)(1). The Exchange also believes that this filing furthers the objectives of Section 6(b)(5) of the Act 18 in that it is designed to facilitate transactions in securities, 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 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 15 U.S.C. 78f(b)(5). Additionally, the Exchange notes that the provisions of the BOX LLC Agreement, previously approved by the Commission, provide a framework for addressing the Combination. Accordingly, BSE believes the Combination does not present any novel issues that have not been anticipated and addressed by the BOX LLC Agreement. 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 The Exchange has neither solicited nor received 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 the public interest, it has become effective pursuant to Section 19(b)(3)(A) of the Act 19 and Rule 19b-4(f)(6) thereunder. 20 19 15 U.S.C. 78s(b)(3)(A). 20 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 BSE has satisfied the five-day pre-filing notice requirement. Normally, a proposed rule change filed under Rule 19b-4(f)(6) 21 may not become operative prior to 30 days after the date of filing. However, Rule 19b-4(f)(6)(iii) 22 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. In its filing, the Exchange requested waiver of the 30-day operative delay because the MX shareholders are expected to approve the Combination on February 13, 2008 and subsequent thereto the Combination is expected to close in late February of 2008. Furthermore, BSE believes the Combination does not present any novel issues that have not been anticipated and addressed by the BOX LLC Agreement. 21 17 CFR 240.19b-4(f)(6). 22 17 CFR 240.19b-4(f)(6)(iii). The Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest because the proposed rule change will allow the Exchange to proceed with the Combination, without undue delay, in a manner consistent with the provisions of the BOX LLC Operating Agreement. Accordingly, consistent with the protection of investors and the public interest, the Commission designates the proposed rule change to be operative upon consummation of the Combination. 23 23 For the purposes only of waiving the 30-day operative delay, the Commission has considered the proposed rule's impact on efficiency, competition, and capital formation. *See* 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-BSE-2008-06 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-BSE-2008-06. 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 BSE. 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-BSE-2008-06 and should be submitted on or before February 29, 2008. 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. E8-2329 Filed 2-7-08; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57261; File No. SR-CBOE-2008-05] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Order Granting Accelerated Approval of Proposed Rule Change as Modified by Amendment No. 1 Thereto To Allow CBOE to List Up to Seven Expiration Months for Reduced-Value and Jumbo Options That Overlie Broad-Based Security Indexes for Which Full-Value Options are Used by CBOE To Calculate a Constant Three-Month Volatility Index February 1, 2008. Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”) 1 and Rule 19b-4 thereunder, 2 notice is hereby given that on January 14, 2008, the Chicago Board Options Exchange, Incorporated ( “Exchange” or “CBOE”) filed with the Securities and Exchange Commission (the “Commission”) the proposed rule change as described in Items I and II below, which Items have been substantially prepared by the Exchange. On January 31, 2008, CBOE filed Amendment No. 1 to the proposed rule change. The Commission is publishing this notice and order to solicit comments on the proposal, as amended, from interested persons and to approve the proposed rule change, as modified by Amendment No. 1, 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 amend Rule 24.9(a)(2), *Terms of Index Option Contracts* , to allow the Exchange to list up to seven expiration months for reduced-value and jumbo options that overlie broad-based security indexes for which full-value options are used by the Exchange to calculate a constant three-month volatility index. The text of the proposed rule change is available on the Exchange's Web site ( *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, 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 III 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 Commission recently approved a rule change that allows the Exchange to list up to seven expiration months for broad-based security index options upon which the Exchange calculates a constant three-month volatility index. 3 This current proposal seeks to extend that provision to reduced-value and jumbo option contracts which overlie the same broad-based security index ( *e.g.* , Jumbo DJX Index Options (“DXL”), CBOE Mini-NDX Index (“MNX”), Mini-Russell 2000 Index (“RMN”), and Mini-SPX Index Options (“XSP”)) as full-value option contracts. 3 *See* Securities Exchange Act Release No. 56821 (November 20, 2007), 72 FR 66210 (November 27, 2007) (SR-CBOE-2007-82) (“Seven Month Approval Order”). In the prior proposal, the Exchange requested the ability to list up to seven expiration months in order to maintain four consecutive near term contract months and three quarterly cycle contract months. In order to maintain this structure, the Exchange noted that it would need to add a seventh contract month eight times a year. Since the Commission issued the Seven Month Approval Order, the Exchange has had one occasion to utilize the new provision for S&P 500 Index (“SPX”) options. 4 Specifically after December 2007 expiration, the remaining SPX option series were: January 2008, February 2008, March 2008, June 2008, September 2008 and December 2008. In order to maintain four consecutive near term contract months, the Exchange added the April 2008 SPX option series on December 24, 2007. 4 Currently, CBOE calculates only one three-month volatility index, the CBOE S&P 500 Three-Month Volatility Index (“VXV”), based on SPX options. Therefore, only SPX options are eligible for the addition of a seventh contract month in order to maintain four consecutive near term contract months and three quarterly cycle contract months. In response to the addition of the seventh SPX option contract month after December 2007 expiration, the Exchange received inquiries from market participants who expressed interest about whether a seventh contract month would be added for XSP options. Under CBOE's current Rule 24.9, this is not permitted. In order to provide consistent treatment across all like products and in response to customer demand, the Exchange is proposing to permit the addition of a seventh contract month for reduced-value and jumbo option contracts ( *e.g.* , XSP and DLX options) that overlie broad-based security indexes for which full-value options are used by the Exchange to calculate a constant three-month volatility index. To effect this change, the Exchange is proposing to add the phrase “including reduced-value and jumbo option contracts” to Rule 24.9(a)(2). In support of this proposal, the Exchange states it has always been the intention of the Exchange to list the same contract months for reduced-value options as for full-value options that overlie the same broad-based security index. 5 Because the Exchange currently only calculates one three-month volatility index, the current proposal would only apply to XSP options. If in the future, however, the Exchange calculates other constant three-month volatility indexes, the current proposal would permit the listing of seven contract months for reduced-value and jumbo contract options that overlie broad-based security indexes for which full-value options are used by the Exchange to calculate a constant three-month volatility index. 5 *See e.g.* , Securities Exchange Act Release No. 32893 (September 14, 1993), 58 FR 49070 (September 21, 1993) (“Consistent with Exchange Rule 24.9, 'Terms of Option Contracts,' the CBOE proposes to list reduced-value SPX options expiring in the same quarterly cycle as full-value SPX options and to list expirations in the current and next two succeeding calendar months.”). Capacity CBOE has analyzed its capacity and 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 of a seventh contract month for reduced-value and jumbo options that overlie broad-based security indexes for which full-value options are used by the Exchange to calculate a constant three-month volatility index. 6 6 Because the Exchange currently only calculates one three-month volatility index (the CBOE S&P 500 Three-Month Volatility Index (“VXV”) based on SPX options) the current proposal would only apply to Mini-SPX Index (“XSP”) options. 2. Statutory Basis Because the increase in the number of expiration months is limited to options overlying broad based security indexes upon which the Exchange calculates a constant three-month volatility and because the series could be added without presenting capacity problems, the Exchange believes the rule proposal is consistent with 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. 7 Specifically, the Exchange believes that the proposed rule change is consistent with the section 6(b)(5) Act 8 requirements that the rules of an exchange be designed to promote just and equitable principles of trade, to prevent fraudulent and manipulative acts 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 CBOE does not believe that the proposed rule change will impose any burden on competition not necessary or appropriate in furtherance of 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-2008-05 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-2008-05. 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 CBOE. 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-2008-05 and should be submitted on or before February 29, 2008. IV. Commission's Findings and Order Granting Accelerated Approval of the Proposed Rule Change After careful review, the Commission finds that CBOE's proposal to amend Rule 24.9(a)(2), *Terms of Index Option Contracts* to allow the Exchange to list up to seven expiration months for reduced-value and jumbo options that overlie broad-based security indexes for which full-value options are used by the Exchange to calculate a constant three-month volatility index is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities exchange 9 and, in particular, the requirements of section 6 of the Act 10 and the rules and regulations thereunder. The Commission believes that increasing, from six to seven, the number of expiration months for these options (to accomodate a fourth consecutive near-term month while maintaining the listing of three months on a quarterly expiration cycle) will result in a more consistent and predictable calculation in which the option series that bracket three months to expiration will always expire one month apart, thereby promoting just and equitable principles of trade while protecting investors and the public interest. 9 In approving this proposed rule change, the Commission has considered the proposed rule's impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). 10 15 U.S.C. 78f. The Commission also notes CBOE's representations that it possesses the necessary systems capacity to handle the additional traffic associated with the additional listing of a seventh contract month for reduced-value and jumbo options that overlie broad-based security indexes for which full-value options are used by the Exchange to calculate a constant three-month volatility index. 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, 11 for approving this proposed rule change before the thirtieth day after the publication of notice thereof in the **Federal Register** because accelerating approval will enable CBOE to harmonize the contract month listings between full-value SPX options and reduced-value SPX options (i.e., XSP options) by listing a seventh expiration month (May 2008) in order to maintain four consecutive near term contract months and three quarterly cycle contracts months. The Commission notes that this proposed rule change does not raise any new regulatory issues from those raised in the rule filing which allowed CBOE to list add a seventh expiration month for full-value broad-based security index options. 12 11 15 U.S.C. 78s(b)(2). 12 *See* supra Note 3. V. Conclusion *It is therefore ordered* , pursuant to section 19(b)(2) of the Act, 13 that the proposed rule change (SR-CBOE-2008-05), as modified by Amendment No. 1, be, and it hereby is approved on an accelerated basis. 13 15 U.S.C. 78s(b)(2). 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. E8-2330 Filed 2-7-08; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57264; File No. SR-CHX-2007-27] Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Order Approving a Proposed Rule Change To Eliminate a Requirement That a Participant Have a Formal Written Agreement To Use Another Participant's Give-Up February 4, 2008. On December 12, 2007, the Chicago Stock Exchange, Inc (“CHX” or “Exchange”) filed with the Securities and Exchange Commission (“Commission”), pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”) 1 and Rule 19b-4 thereunder, 2 a proposed rule change to amend CHX Article 9, Rule 25 to eliminate the requirement that a participant have a formal written agreement to use another participant's give-up. 3 The proposed rule change was published for comment in the ** Federal Register ** on December 31, 2007. 4 The Commission received no comments on the proposal. This order approves the proposed rule change, as amended. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. 3 *See* Securities Exchange Act Release No. 57036 (December 21, 2007), 72 FR 74381 (December 31, 2007) (“Notice”) at footnote 3 (defining a “give-up” as a multi-character symbol that identifies a CHX participant firm. In the context of this rule, if a participant executes a trade using another participant's give-up, the firm is identifying the other firm as a party to the trade and allocating the trade to the other firm's account for clearing). 4 *See id.* When the CHX adopted rules for its new trading model, it included a provision that requires a participant that executes a trade using another participant's give-up to have a written agreement authorizing the use of the give-up. 5 Soon after implementing its new trading model, the Exchange contemplated limiting the way in which the rule would apply to its institutional brokers by allowing institutional brokers to use other participants' give-ups in accordance with reasonable written order-handling procedures, without specifically requiring that a written agreement be in place. 6 The Exchange believed that the rule provided an appropriate general standard, but did not intend to require a potentially substantial change in the long-standing business practices of the Exchange's institutional brokers, who often execute a trade using another participant's give-up, pursuant to instructions from such participant or its customer. 7 5 *See* Securities Exchange Act Release No. 54550 (September 29, 2006), 71 FR 59563 (October 10, 2006) (approval order for the new trading model). 6 *See* File No. SR-CHX-2006-32. The Exchange withdrew that proposal on December 12, 2007. 7 *See* Notice, *supra* note 3, at 74381. The Exchange now proposes to eliminate the “give-up agreement” rule altogether. The Exchange believes the rule sets a good business standard, but does not believe that it is appropriate to put a hard-and-fast rule to that effect in place because of its potential impact on the day-to-day business practices of some of its institutional brokers. 8 8 *See id.* 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. 9 In particular, the Commission finds that the proposal is consistent with section 6(b)(5) of the Act, 10 which requires, among other things, that the rules of an exchange be designed to 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. Repealing this rule will permit the Exchange's members to execute trades using another CHX participant's give-up pursuant to instructions from either that participant or its customer without requiring that a written agreement first be in place between those participants, thereby providing greater flexibility for members to execute trades on the Exchange. The Commission notes, however, that participants may choose to continue entering into formal written give-up agreements as they consider appropriate. 9 In approving this proposed rule change, the Commission notes that it has considered the proposed rule's impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). 10 15 U.S.C. 78f(b)(5). *It is therefore ordered,* pursuant to section 19(b)(2) of the Act, 11 that the proposed rule change (SR-CHX-2007-27) is approved. 11 15 U.S.C. 78s(b)(2). 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. E8-2331 Filed 2-7-08; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57265; File No. SR-Phlx-2007-68] Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.; Order Granting Approval to Proposed Rule Change as Modified by Amendment Nos. 1 and 2 Thereto Relating to Customized U.S. Dollar-Settled Foreign Currency Options February 4, 2008. I. Introduction On September 6, 2007, the Philadelphia Stock Exchange, Inc. (“Phlx” or “Exchange”) filed with the Securities and Exchange Commission (“Commission”), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934, as amended (“Act”) 1 and Rule 19b-4 thereunder, 2 a proposed rule change relating to trading of individually tailored U.S. dollar-settled foreign currency options (“FCOs”). On December 18, 2007, the Exchange filed Amendment No. 1. The proposed rule change, as amended, was published for comment in the **Federal Register** on December 31, 2007. 3 The Commission received no comments on the proposal. On January 29, 2008, the Exchange filed Amendment No. 2. 4 This order approves the proposed rule change, as amended. 1 15 U.S.C. 78s(b)(l). 2 17 CFR 240.19b-4. 3 *See* Securities Exchange Act Release No. 57018 (December 20, 2007), 72 FR 74392 (“Notice”). 4 *See* Partial Amendment dated January 29, 2008 (“Amendment No. 2”). Amendment No. 2 made one technical correction to the rule text. This correction is not subject to notice and comment. II. Description of the Proposal Individually tailored index and equity options currently may be traded pursuant to Rule 1079, FLEX Index and Equity Options. 5 Phlx proposes to amend Rule 1079 6 to permit trading of U.S. dollar-settled FCOs with individually tailored expiration dates and exercise prices (“FLEX currency options”). 7 Provisions of Rule 1079 that are not limited by their terms to FLEX index or equity options will be equally applicable to FLEX currency options. 8 The Options Clearing Corporation (“OCC”) will be the issuer and guarantor of these new options. 5 *See* Securities Exchange Act Release No. 39549 (January 14, 1998), 63 FR 3601 (January 23, 1998) (adopting SR-Phlx-96-38). The term “FLEX” is a trademark of the Chicago Board Options Exchange, Inc. 6 The Exchange also proposes to amend Floor Procedure Advice F-28, Trading FLEX Index and Equity Options, to make corresponding changes to those being proposed to Rule 1079(b). 7 Currently, a variety of customized physical delivery FCOs are traded on the Exchange pursuant to Rule 1069, Customized Foreign Currency Options. Users currently have the ability with respect to physical delivery FCOs to customize the strike price and quotation method and to choose underlying and base currency combinations from among various Exchange listed currencies, including the U.S. dollar. *See* Securities Exchange Act Release No. 34925 (November 1, 1994), 59 FR 55720 (November 8, 1994). References in Exchange rules to “FLEX currency options” will apply only to U.S. dollar-settled FCOs and will not include customized physical delivery FCOs that trade pursuant to Phlx Rule 1069. 8 Generally, like FLEX index and equity options, FLEX currency options will be traded in accordance with many existing options rules. Rule 1079 states that to the extent that the provisions of Rule 1079 are inconsistent with other applicable Exchange rules, Rule 1079 takes precedence with respect to FLEX options. A. Characteristics of FLEX Currency Options Pursuant to proposed Rule 1079(a)(3)(C), users will be able to individually tailor the strike prices of FLEX currency options. Strike prices need not be consistent with strike price intervals permissible for non-FLEX U.S. dollar-settled FCOs. The strike price may be specified in terms of a specific dollar amount rounded to the nearest ten thousandth of a dollar (expressed without reference to the first two decimal places) for FLEX currency options other than the Japanese yen currency option. FLEX options on the Japanese yen may be specified in terms of a specific dollar amount rounded to the nearest one millionth of a dollar (expressed without reference to the first four decimal places). 9 9 FLEX currency options will be margined at the same levels as the Exchange's non-FLEX U.S. dollar-settled FCOs. *See* Phlx Rule 722. Pursuant to proposed Rule 1079(a)(6), FLEX currency option contracts will be allowed to expire on any month, business day and year within two years, 10 provided that a FLEX currency option will not be permitted to expire on any day that falls on or within two business days prior or subsequent to an expiration day for a non-FLEX U.S. dollar-settled FCO on the same underlying currency or on any day on which the Federal Reserve Bank is not scheduled to publish its Noon Buying Rate. 11 All FLEX currency options with customized expiration dates will expire at 11:59 p.m. eastern time on their designated expiration date and cease trading at 10:15 a.m. eastern time that day. 12 10 U.S. dollar-settled FCO contracts currently may only be traded with expirations at one, two, three, six, nine and twelve months. *See* Phlx Rule 1012. 11 *See* proposed amendment to Rule 1079(a)(6)(A). FLEX index and equity options also cannot expire on or within two business days prior to or subsequent to an expiration day for a non-FLEX index or equity option on the same underlying index or security, as applicable. 12 *Id. See also* proposed amendment to Rule 1079(a)(9)(C). FLEX currency options will be quoted in terms of dollars per unit of underlying foreign currency, like the non-FLEX U.S. dollar settled FCOs. 13 FLEX currency options may be quoted and traded in the same minimum increments that are established for non-FLEX U.S. dollar settled FCOs. 14 FLEX currency options, like non-FLEX U.S. dollar-settled FCOs, will be limited to European exercise style only. 15 13 *See* proposed Rule 1079(a)(4)(B). 14 *See* Phlx Rule 1034(a)(ii)(A). 15 Currently, Rule 1079(a)(5) permits market participants to determine whether a FLEX index or equity option will have either an American or European exercise style. An American style option may be exercised at any time up to its expiration, while a European style option can only be exercised on its expiration day. *See* Phlx Rule 1000(b)(34) and (35). Pursuant to proposed Rule 1079(a)(8), if there is no open interest in the particular FLEX currency option series when a request for a quote (“RFQ”) is submitted, 16 the minimum size of an RFQ for FLEX currency options will be 50 contracts. If there is open interest, the minimum size of the RFQ will be 25 contracts, or the remaining size on a closing transaction, whichever is less. The minimum value size for a responsive quote, other than a responsive quote of an assigned Registered Options Trader (“ROT”) or assigned Specialist, will be 50 contracts or the remaining size on a closing transaction, whichever is less. Assigned ROTs and assigned Specialists who respond to an RFQ 17 will be required to respond to each RFQ with at least 250 contracts or the size amount requested in the RFQ, whichever is less. 18 16 *See* Phlx Rule 1079(b) for a description of the RFQ procedure for FLEX options. This procedure will apply to FLEX currency options in the same way as to FLEX index and equity options. 17 *See* Rule 1079(c)(1) regarding Assigned ROTs and Assigned Specialists. Rule 1079(c)(1) currently applies to all FLEX options and will apply to FLEX currency options as well. 18 These minimum sizes are different from the minimum sizes applicable to FLEX index and equity options under existing Rule 1079(a)(8). Rule 1079(a)(9) is being amended to provide for settlement for FLEX currency options. The settlement value determination for FLEX currency options will be the same as for non-FLEX U.S. dollar-settled FCOs, except that the closing settlement value for FLEX currency options will be the Noon Buying Rate on the expiration date, whereas Rule 1057 bases the closing settlement value for non-FLEX U.S. dollar-settled FCO on the Noon Buying Rate on the business day prior to expiration. 19 FLEX currency options will be subject to the exercise-by-exception procedures of OCC. 20 19 The closing settlement value for FLEX options on the Canadian dollar, the Swiss franc and the Japanese yen will be an amount equal to one divided by the day's announced Noon Buying Rate, as determined by the Federal Reserve Bank of New York on the expiration date, rounded to the nearest .0001 (except in the case of the Japanese yen where the amount would be rounded to the nearest .000001). If the Noon Buying Rate is not announced by 5 p.m. eastern time on expiration day, the closing settlement value will be based upon the most recently announced Noon Buying Rate, unless the Exchange determined to apply an alternative closing settlement value as a result of extraordinary circumstances. 20 *See* OCC Rule 805, which sets forth the expiration date exercise procedures for options cleared and settled by the OCC. The exercise-by-exception or “Ex-by-Ex” procedure employed by OCC in OCC Rule 805 allows an OCC Clearing Member to effect a choice not to exercise an option that is in the money by the exercise threshold amount or more, or to exercise an option which has not reached the exercise threshold amount. B. Quoting and Trading of FLEX Options The Automated Options Market (“AUTOM”) system is not available for FLEX options. 21 All FLEX options must be quoted and traded in the trading crowd of the corresponding non-FLEX option. Quoting and trading in FLEX currency options will be subject to Rule 1079(b), which currently governs the quoting and trading of FLEX index and equity options. Rule 1079(c), which governs who may trade FLEX options, will apply to FLEX currency options in the same manner as FLEX index and equity options. In addition, crossing in FLEX currency options will be governed by Rule 1079(b)(6), which currently applies to crosses in FLEX index and equity options. 21 The term “AUTOM” is used interchangeably with the term “Phlx XL,” the Exchange's fully electronic trading platform for options. The Exchange intends to file a separate proposed rule change to update its rules to reflect that orders are now delivered electronically over Phlx XL. C. Position Limits Proposed Rule 1079(d)(3) is unique to FLEX currency options and provides that positions in FLEX currency options will be aggregated with positions in non-FLEX U.S. dollar-settled FCO contracts, as well as physical delivery FCO contracts, for purposes of determining compliance with the position limits established by Phlx Rule 1001. 22 22 Like non-FLEX U.S. dollar-settled FCOs,
(i)one British pound FLEX option contract will count as one-third of a contract,
(ii)one Euro FLEX option contract will count as one-sixth of a contract,
(iii)one Australian dollar FLEX option contract will count as one-fifth of a contract,
(iv)one Canadian dollar FLEX option contract will count as one-fifth of a contract,
(v)one Swiss Franc FLEX option contract will count as one-sixth of a contract, and
(vi)one U.S. dollar-settled Japanese yen FLEX option contract will count as one-sixth of a contract. The counting of both FLEX and non-FLEX U.S. dollar-settled FCO contracts as less than one full contract reflects the fact that the size of the U.S. dollar-settled FCO contract is smaller than the Exchange's physical delivery contract on the same currencies. The position limit rules were originally adopted for the larger physical delivery contracts. In addition, the Exchange has amended Rule 1079(e), Exercise Limits, to include FLEX U.S. dollar-settled FCOs. D. Trading Hours The Exchange has determined that, initially, FLEX currency options will have the same trading hours as non-FLEX U.S. dollar-settled FCOs. The Exchange will be able to establish other trading times for FLEX currency options within the regular trading hours for the non-FLEX U.S. dollar-settled FCOs, including reflecting any new trading hours for non-FLEX U.S. dollar-settled FCOs. 23 23 Under this proposal, expanding and narrowing FLEX currency trading hours within the regular trading hours of the particular product would not require a proposed rule change pursuant to Section 19(b) of the Act. The Exchange, however, would notify its members, in advance, prior to making any such change. Any proposal to expand trading hours outside of established regular trading hours will be submitted as a proposed rule change to the Commission pursuant to Section 19(b) of the Act. E. Surveillance and Customer Protection Exchange rules and regulations involving sales practice will be applicable to FLEX currency options. The Exchange also represents that it has adequate surveillance procedures for, and systems capacity to support, the trading of FLEX currency options. III. Commission Finding and Conclusions After careful consideration, the Commission finds that the proposed rule change, as amended, is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities exchange, and, in particular, the requirements of Section 6(b)(5) and 11A of the Act. 24 Specifically, the Commission finds that Phlx's proposal is designed to provide investors with a tailored product that may be more suitable to their investment needs. Moreover, consistent with Section 11A, the proposal encourages fair competition among brokers and dealers and exchange markets, by allowing the Exchange to compete with the over-the-counter market in foreign currency options. Additionally, the Commission believes that the proposal will help promote the maintenance of fair and orderly markets because it will extend the benefits of a listed, exchange market to FCOs that are more flexible than currently listed FCOs. 25 24 15 U.S.C. 78f(b)(5) and 78k-1. 25 In approving this rule, the Commission notes that it has considered the proposed rule's impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). The proposed rule change will permit the trading of U.S. dollar-settled FCOs with individually tailored expiration dates and strike prices. 26 The Commission notes that it previously approved rules relating to the listing and trading of FLEX index and equity options on Phlx, which give investors and other market participants the ability to individually tailor, within specified limits, certain terms of those index and equity options. 27 The current proposal incorporates FLEX currency options into these existing rules and regulatory framework. The Commission finds that the Exchange's proposal to introduce the trading of FLEX currency options into the market in this manner, which will result in a substantially similar regulatory structure for all FLEX products traded on Phlx, is consistent with the Act. 26 As noted above, OCC will be the issuer and guarantor of all FLEX currency options. The Commission is designating FLEX currency options as standardized options for purposes of the options disclosure framework established under Rule 9b-1 of the Act. *See* Securities Exchange Act Release Nos. 31910 (February 23, 1993), 58 FR 12056 (March 2, 1993); 34925 (November 1, 1994), 59 FR 55720 (November 8, 1994); and 36841 (February 14, 1996), 61 FR 6666 (February 21, 1996). 27 *See* Securities Exchange Act Release No. 39549 (January 14, 1998), 63 FR 3601 (January 23, 1998). Pursuant to the proposed rule change, the Exchange will be able to offer investors and other market participants the ability to trade FLEX currency options with an expiration date in any month, business day and year, subject to certain explicit restrictions as described above. The ability to customize expiration dates is designed to enable investors and other market participants to hedge their exchange rate exposure more accurately by trading a contract that expires on the date of their choice. The proposal also will permit investors and other market participants to individually tailor the strike prices of FLEX currency options. As the proposal makes clear, such strike prices need not be consistent with strike price intervals permissible for non-FLEX U.S. dollar-settled FCOs. This additional flexibility permits users of FLEX currency options to tailor the product according to their investment needs and objectives, and the Commission finds it consistent with the Act. The Commission also believes that the Exchange has extended the application of existing rules regarding FLEX index and equity options, and non-FLEX U.S. dollar-settled FCOs, to FLEX currency options consistent with the Act. For example, like FLEX index and equity options, the expiration date for a FLEX currency option cannot fall on or within two business days prior or subsequent to an expiration date for a non-FLEX option on the same underlying currency. Further, the procedure for quoting and trading of FLEX currency options in Rule 1079(b) will be the same as the existing procedure for the quoting and trading of FLEX index and equity options. The proposal also sets minimum size requirements for RFQs and responses to RFQs, as it does for FLEX index and equity options. Similarly, the Exchange's proposal applies certain rules governing non-FLEX U.S. dollar-settled FCOs to FLEX currency options. For example, like non-FLEX U.S. dollar-settled FCOs, FLEX currency options will be quoted in terms of dollars per unit of underlying foreign currency, and may be quoted and traded in the same minimum increments that are established for non-FLEX U.S. dollar-settled FCOs. The settlement value determination for FLEX currency options also will be calculated in a manner that is substantially identical to the calculation of settlement value for non-FLEX U.S. dollar-settled FCOs, and FLEX currency options will have the same trading hours as non-FLEX U.S. dollar-settled FCOs. In addition, the proposal requires the aggregation of positions in FLEX currency options with positions in non-FLEX U.S. dollar-settled FCOs and physical delivery FCOs for purposes of determining compliance with the Exchange's existing position limit rules in Rule 1001. 28 The Commission believes that such aggregation, which is designed to minimize concerns regarding manipulations or disruptions of the market for those and related products, is consistent with the Act. 28 *See supra* note 22 and accompanying text. Finally, the Commission believes that a regulatory system designed to protect public customers must be in place before the trading of sophisticated financial instruments, such as FLEX currency options, can commence on a national securities exchange. Phlx has represented that Exchange rules and regulations involving sales practice will be applicable to FLEX currency options, and that the Exchange has adequate surveillance procedures for, and systems capacity to support, the trading of FLEX currency options. Thus, the Commission believes that the goal of ensuring adequate customer protection has been satisfied by the Exchange, consistent with the Act. IV. Conclusion For the foregoing reasons, the Commission finds that the proposed rule change, as amended, is consistent with the Act and the rules and regulations thereunder applicable to a national securities exchange. In addition, the Commission finds pursuant to Rule 9b-1 under the Act that FLEX currency options are standardized options for purposes of the options disclosure framework established under Rule 9b-1 of the Act. 29 29 *See supra* note 26. *It is therefore ordered,* pursuant to Section 19(b)(2) of the Act, 30 that the proposed rule change (SR-Phlx-2007-68), as amended, is approved. 30 15 U.S.C. 78s(b)(2). *It is further ordered,* pursuant to Rule 9b-1(a)(4) under the Act, 31 that FLEX currency options are designated as standardized options. 31 17 CFR 240.9b-1(a)(4). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 32 32 17 CFR 200.30-3(a)(12) and 17 CFR 200.30-3(a)(51). Florence E. Harmon, Deputy Secretary. [FR Doc. E8-2332 Filed 2-7-08; 8:45 am] BILLING CODE 8011-01-P SMALL BUSINESS ADMINISTRATION National Small Business Development Center Advisory Board; Public Meeting Pursuant to the Federal Advisory Committee Act, Appendix 2 of Title 5, United States Code, Public Law 92-463, notice is hereby given that the U.S. Small Business Administration (SBA), National Small Business Development Center Advisory Board will be hosting a public meeting via conference call to discuss such matters that may be presented by Board members, staff of the SBA and interested others. The conference call is scheduled for Tuesday, February 19, 2008, at 1 p.m. Eastern Standard Time. The purpose of this meeting is to discuss the upcoming ASBDC Spring Conference in March and other official SBDC business. Anyone wishing to make an oral presentation to the Board must contact Alanna Falcone, Program Analyst, U.S. Small Business Administration, Office of Small Business Development Centers, 409 3rd Street, SW., Washington, DC 20416, telephone
(202)619-1612 or fax
(202)481-0134. Cherylyn H. Lebon, Committee Management Officer. [FR Doc. E8-2290 Filed 2-7-08; 8:45 am] BILLING CODE 8025-01-P` DEPARTMENT OF STATE [Public Notice 6094] Evaluation of the Intergovernmental Panel on Climate Change ACTION: Request for public comment. SUMMARY: The U.S. State Department, in its role as coordinator for the U.S. Government's role in the IPCC, requests public comment on the activities and process of the Intergovernmental Panel on Climate Change
(IPCC)in order to facilitate the U.S. Government's effort to assess and enhance the IPCC's high-level of scientific credibility and relevance for the evolving needs of decision-maker. The IPCC is a scientific intergovernmental body set up by the World Meteorological Organization
(WMO)and the United Nations Environment Program (UNEP). The IPCC's role is to assess on a comprehensive, objective, open, and transparent basis the latest scientific, technical, and socio-economic literature produced worldwide. Consistent with this role, the IPCC does not conduct research, nor does it monitor climate related data or parameters. In order to fulfill this role, the IPCC produces comprehensive assessment reports at regular intervals of the state of knowledge with respect to climate change science; impacts, vulnerability and adaptation; and mitigation. The most recent of these, the Fourth Assessment Report, was completed in November 2007. The First Assessment Report was completed in 1990, the Second Assessment Report in 1995, and the Third Assessment Report in 2001. These reports have been widely used as key references for the state of knowledge on climate change, including in international climate discussions under the United Nations Framework Convention on Climate Change (UNFCCC). The IPCC also issues periodic Special Reports on specific aspects of climate change. The most recent of these, on Carbon Dioxide Capture and Storage, was released in 2005. The United States has played a leading role in the IPCC since its inception, through official contributions and key leadership positions in IPCC report development, as well as through the contributions of many U.S. scientist and experts to the reports themselves. All IPCC reports are developed in a manner that conforms to the IPCC Principles and Procedures, which were developed by participating governments of the IPCC. Consistent with these principles and procedures, IPCC reports should be neutral with respect to policy, although they need to deal objectively with policy relevant scientific, technical, and socio-economic factors. Efforts are currently underway within the IPCC to initiate a dialogue regarding the scope and nature of IPCC activities in the coming years. In order to inform these discussions, the State Department is requesting public comment regarding aspects of the IPCC products and the processes used to develop them. Comments of particular value might focus on: —The value of comprehensive assessments vs. special reports; —The structure, frequency and process for developing IPCC reports; —Substantive areas that need stronger coverage and, if so, why; —Relationship of the reports to the needs of decision-makers. The public is also welcome to submit comment on other aspects of the IPCC as it sees fit. Further information about the activities of the IPCC, as well as IPCC reports can be found at *http://www.ipcc.ch.* DATES: Comments must be received on or before February 29, 2008. ADDRESSES: Send comments via e-mail to *IPCC-future@climatescience.gov* by the prescribed deadline. Append surname to title and to the attached word-processing file to facilitate processing and archival (e.g., “ *IPCC Future: Smith* ” and *IPCC-Smith.doc* ), and include contact details (name, institution, physical address, phone, and e-mail). All public comments will be made available on the U.S. Climate Change Science Program
(CCSP)Web site at *http://www.climatescience.gov/Library/ipcc/ipcc-future.htm* as submitted, unless modified for technical reasons. Accordingly, comments will not be edited to remove any identifying or contact information. FOR FURTHER INFORMATION CONTACT: Trigg Talley, U.S. Department of State, Office of Global Change, at (202)647-3984. SUPPLEMENTARY INFORMATION: IPCC assessments and special reports and other information about IPCC activities are available at *http://www.ipcc.ch.* Dated: February 5, 2008. Donna L. Lee, Foreign Affairs Officer, Department of State. [FR Doc. E8-2360 Filed 2-7-08; 8:45 am] BILLING CODE 4710-09-P DEPARTMENT OF TRANSPORTATION Federal Aviation Administration [Summary Notice No. PE-2008-02] Petition for Exemption; Summary of Petition Received AGENCY: Federal Aviation Administration (FAA), DOT. ACTION: Notice of petition for exemption received. SUMMARY: This notice contains a summary of a petition seeking relief from specified requirements of 14 CFR. The purpose of this notice is to improve the public's awareness of, and participation in, this aspect of FAA's regulatory activities. Neither publication of this notice nor the inclusion or omission of information in the summary is intended to affect the legal status of the petition or its final disposition. DATES: Comments on this petition must identify the petition docket number involved and must be received on or before February 28, 2008. ADDRESSES: You may send comments identified by Docket Number FAA-2008-0053 using any of the following methods: • *Government-wide rulemaking Web site:* Go to *http://www.regulations.gov* and follow the instructions for sending your comments electronically. • *Mail:* Send comments to the Docket Management Facility; U.S. Department of Transportation, 1200 New Jersey Avenue, SE., West Building Ground Floor, Room W12-140, Washington, DC 20590. • *Fax:* Fax comments to the Docket Management Facility at 202-493-2251. • *Hand Delivery:* Bring comments to the Docket Management Facility in Room W12-140 of the West Building Ground Floor at 1200 New Jersey Avenue, SE., Washington, DC, between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. *Privacy:* We will post all comments we receive, without change, to *http://www.regulations.gov,* including any personal information you provide. Using the search function of our docket Web site, anyone can find and read the comments received into any of our dockets, including the name of the individual sending the comment (or signing the comment for an association, business, labor union, etc.). You may review DOT's complete Privacy Act Statement in the **Federal Register** published on April 11, 2000 (65 FR 19477-78). *Docket:* To read background documents or comments received, go to *http://www.regulations.gov* at any time or to the Docket Management Facility in Room W12-140 of the West Building Ground Floor at 1200 New Jersey Avenue, SE., Washington, DC, between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. FOR FURTHER INFORMATION CONTACT: Judith Watson
(781)238-7196, FAA New England Region Headquarters, 12 New England Executive Park, Burlington, MA 01803 or Frances Shaver
(202)267-9681, Office of Rulemaking, Federal Aviation Administration, 800 Independence Avenue, SW., Washington, DC 20591. This notice is published pursuant to 14 CFR 11.85. Issued in Washington, DC, on February 4, 2008. Pamela Hamilton-Powell, Director, Office of Rulemaking. Petition for Exemption *Docket No.:* FAA-2008-0053. *Petitioner:* McCauley Propeller Systems. *Section of 14 CFR Affected:* § 21.231(a). *Description of Relief Sought:* The petitioner seeks relief to permit the issuance of a delegation option authorization for type, production, and airworthiness certification of propellers manufactured for use on turbopropeller and reciprocating engines of not more than 1,650 brake horsepower. [FR Doc. E8-2389 Filed 2-7-08; 8:45 am] BILLING CODE 4910-13-P DEPARTMENT OF TRANSPORTATION Office of the Secretary Federal Aviation Administration [Docket No. FAA-2008-0036] RIN 2120-AF90 Policy Regarding Airport Rates and Charges; Extension of Comment Period AGENCY: Department of Transportation, Office of the Secretary and Federal Aviation Administration. ACTION: Notice of proposed amendment to policy statement; extension of comment period. SUMMARY: This action extends the comment period for a proposed amendment to the “Policy Regarding the Establishment of Airport Rates and Charges” that was published on January 17, 2008. In that document, the Department of Transportation (“Department”) and the Federal Aviation Administration
(FAA)proposed to amend the “Policy Regarding the Establishment of Airport Rates and Charges” published in the **Federal Register** on June 21, 1996 (“1996 Rates and Charges Policy”). The Department and the FAA proposed three amendments to the 1996 Rates and Charges Policy (two modifications and one clarification). These amendments are intended to provide greater flexibility to operators of congested airports to use landing fees to provide incentives to air carriers to use the airport at less congested times or to use alternate airports to meet regional air service needs. Any charges imposed on international operations must also comply with the international obligations of the United States. This extension is a result of a request from the Air Transport Association of America, Inc., the Cargo Airline Association, the National Air Carrier Association, and the Regional Airline Association on behalf of their members, to extend the comment period for thirty days. DATES: The comment period for the Notice of proposed amendment to Policy Regarding the Establishment of Airport Rates and Charges published on January 17, 2008 (73 FR 3310) was scheduled to close on March 3, 2008, and is extended until April 3, 2008. ADDRESSES: You may send comments identified by Docket Number, *FAA-2008-0036* using any of the following methods: • *Government-wide rulemaking Web site:* Go to *http://www.regulations.gov* and follow the instructions for sending your comments electronically. • *Mail:* Docket Operations, U.S. Department of Transportation, West Building, Ground Floor, Room W12-140, Routing Symbol M-30, 1200 New Jersey Avenue, SE., Washington, DC 20590. • *Fax:* 1-202-493-2251. • *Hand Delivery:* To Docket Operations, Room W12-140 on the ground floor of the West Building, 1200 New Jersey Avenue, SE., Washington, DC 20590; between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. For more information on the notice and comment process, see the SUPPLEMENTARY INFORMATION section of this document. *Privacy:* We will post all comments we receive, without change, to *http://www.regulations.gov,* including any personal information you provide. For more information, see the Privacy Act discussion in the SUPPLEMENTARY INFORMATION section of this document. *Docket:* To read background documents or comments received, go to *http://www.regulations.gov* at any time or to Room W12-140 on the ground floor of the West Building, 1200 New Jersey Avenue, SE., Washington, DC, between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. FOR FURTHER INFORMATION CONTACT: Charles Erhard, Manager, Airport Compliance Division, AAS-400, Federal Aviation Administration, 800 Independence Avenue, SW., Washington, DC 20591, telephone
(202)267-3187; facsimile:
(202)267-5769; e-mail: *charles.erhard@faa.gov.* SUPPLEMENTARY INFORMATION: Comments Invited Interested persons are invited to join in this notice and comment process by filing written comments, data, or views. The most helpful comments reference a specific portion of the proposal, explain the reason for any recommended change, and include supporting data. We ask that you send us two copies of written comments. We will file in the docket all comments we receive, as well as a report summarizing each substantive public contact with Department personnel about this proposal. The docket is available for public inspection before and after the comment closing date. If you wish to review the docket in person, go to the address in the ADDRESSES section of this document between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. You may also review the docket using the Internet at the Web address in the ADDRESSES section. *Privacy Act:* Using the search function of our docket Web site, anyone can find and read the comments received into any of our dockets. This includes the name of the individual sending the comment (or signing the comment for an association, business, labor union). You may review DOT's complete Privacy Act Statement in the **Federal Register** published on April 11, 2000 (65 FR 19477-78) or you may visit *http://www.regulations.gov* . Before acting on this proposal, we will consider all comments we receive on or before the closing the date for comments. We will consider comments filed late if it is possible to do so without incurring expense or delay. We may change this proposal because of the comments we receive. Proprietary or Confidential Business Information Do not file in the docket information that you consider to be proprietary or confidential business information. Send or deliver this information directly to the person identified in the FOR FURTHER INFORMATION CONTACT section of this document. You must mark the information that you consider proprietary or confidential. If you send the information on a disk or CD-ROM, mark the outside of the disk or CD-ROM and also identify electronically within the disk or CD-ROM the specific information that is proprietary or confidential. Under 14 CFR 11.35 (b), when we are aware or proprietary information filed with a comment, we do not place it in the docket. We hold it in a separate file to which the public does not have access and place a note in the docket that we have received it. If we receive a request to examine or copy this information, we treat it as any other request under the Freedom of Information Act (5 U.S.C. 552). We process such a request under the DOT procedures found in 49 CFR part 7. Availability of Documents You can get an electronic copy using the Internet by:
(1)Searching the Federal eRulemaking portal ( *http://www.regulations.gov/search* );
(2)Visiting the FAA's Regulations and Policies Web page at ( *http://www.faa/gov/regulations_policies* ); or
(3)Accessing the Government Printing Office's Web page at *http://www.access.gpo.gov/su_docs/aces/aces140.html* . You can also get a copy by sending a request to the Federal Aviation Administration, Office of Rulemaking, ARM-1, 800 Independence Avenue, SW., Washington, DC 20591, or by calling
(202)267-9680. Make sure to identity the docket number, notice number, or amendment number of this proceeding. Authority for This Proceeding This notice is published under the authority described in Subtitle VII, Part B, Chapter 471, Section 47129 of Title 49 United States Code. Under subsection
(b)of this section, the Secretary of Transportation is required to publish publishing policy statements establishing standards or guidelines the Secretary will use in determining the reasonableness of airport fees charged to airlines under Section 47129. Background On January 17, 2008, the Department of the FAA issued Notice of proposed amendment to the Policy Regarding the Establishment of Airport Rates and Charges Docket No. FAA-2008-0036, (73 FR 3310). Comments to that document were to be received on or before March 3, 2008. By a letter dated January 30, 2008 the Air Transport Association of America, Inc. (ATA), the Cargo Airline Association (CAA), the National Air Carrier Association (NACA), and the Regional Airline Association (RAA), on behalf of their members, requested that the comment period for Docket 2008-0036 be extended until April 3, 2008. Industry trade groups expressed concern that critical pieces of information were missing from the January 17, 2008, notice that are essential to a full assessment of the impact of the proposed policy. The following information has been added to the docket: the list of secondary airports eligible for inclusion in the rate base (FAA Docket 2008-0036.0007.1); the list of congested airports (based on 1% of delays) (FAA Docket 2008-0036-0008.1); the list of airports from the Benchmark report (FAA Docket 2008-0036-0009.1). ATA, CAA, NACA and RAA requested an extension of the comment period by 30 days to provide sufficient time to more fully develop comments reflecting the views of the industry stakeholders. The Department and the FAA concur with the petitioners' requests for an extension of the comment period on FAA Docket 2008-0036 and believe an additional 30 days should be adequate to provide more complete and meaningful comment. Extension of Comment Period In accordance with § 11.47(c) of title 14, Code of Federal Regulations, the Department of the FAA have reviewed the petitions made by the Air Transport Association of America, Inc. (ATA), the Cargo Airline Association (CAA), the National Air Carrier Association (NACA), and the Regional Airline Association (RAA), on behalf of their members, for extension of the comment period to FAA Docket 2008-0036. These petitioners have shown a substantive interest in the proposed amendment to the 1996 Policy Regarding Airport Rates and Charges and good cause for the extension. The Department and the FAA have determined that extension of the comment period is consistent with the public interest, and that good cause exists for taking this action. Accordingly, the comment period for FAA Docket 2008-0036 is extended until April 3, 2008. Issued in Washington, DC, on February 5, 2008. Rebecca MacPherson, Assistant Chief Counsel for Regulations, Federal Aviation Administration. [FR Doc. 08-573 Filed 2-7-08; 8:45 am]
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Traces to 18 documents
U.S. Code
- Short title§ 901
- Federal agency responsibilities§ 3506
- Collection, collation, and reports of labor statistics§ 2
- Examination by Archivist of lists and schedules of records lacking preservation value; disposal of records§ 3303a
- Purposes§ 3501
- Management assessment of internal controls§ 7262
- Periodical and other reports§ 78m
- Registration and regulation of brokers and dealers§ 78o
- Registration, responsibilities, and oversight of self-regulatory organizations§ 78s
- Definitions and application§ 78c
- National securities exchanges§ 78f
- Public information; agency rules, opinions, orders, records, and proceedings§ 552
CFR
- Referral to the Advisory Committee on Reactor Safeguards (ACRS).§ 52.87
- Hearing requests, petitions to intervene, requirements for standing, and contentions.§ 2.309
- Filing of documents.§ 2.302
- Delegation of authority to Director of Division of Trading and Markets.§ 200.30-3
- Does FAA invite public comment on petitions for exemption?§ 11.85
- Does FAA include sensitive security information and proprietary information in the Federal Docket Management System (FDMS)?§ 11.35
7 references not yet in our index
- Pub. L. 104-13
- Pub. L. 92-463
- 10 CFR 50
- 10 CFR 52
- 17 CFR 240.19
- 17 CFR 240.9
- 49 CFR 7
Citation graph
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Notices
Amendment
Pub. L.Pub. L. 104-13
Pub. L.Pub. L. 92-463
Cite10 CFR 50
Cites 25 · showing 12Cited by 0 across 0 sources