63948 Federal Register / Vol. 72, No.
218 / Tuesday, November 13, 2007 / Notices
points before it was fully executed.
Thus, if the Specialist Algorithm had
not determined to provide supplemental
specialist volume at the price point of
$5.03, the sell order would have
continued its sweep down the Display
Book and interacted with the available
interest at the next price point of $5.02
completing the execution. If the
specialist trading message did not
provide enough supplemental volume to
complete the order it would have
continued to sweep the orders on the
Display Book to the extent permitted
until: (a) Filled; (b) its limit, if any was
reached; or (c) an LRP was triggered,
whichever occurred first.
It should be noted that the specialist
is not required to buy the full size
remaining of the sell order at the
particular sweep price. The Exchange
states that there is no disadvantage to
the customer in allowing the specialists
to partially fill an order at a particular
sweep price especially when applicable
rules only allow the supplemental
specialist volume to interact with the
order when no other interest exists.
Under these circumstances, the order is
afforded a better priced execution that it
otherwise would not have.
2. Statutory Basis
The basis under the Act for this
proposed rule change is the requirement
under Section 6(b)(5) 10 that an
Exchange have rules that are designed to
promote just and equitable principles of
trade, to remove impediments to and
perfect the mechanism of a free and
open market and a national market
system, and, in general, to protect
investors and the public interest. The
proposed rule change is consistent with
these objectives in that it provides
additional trading messages to the
Specialist Algorithm, which will further
enable the specialist to meet its
obligation of maintaining a fair and
orderly market.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants or Others
rfrederick on PROD1PC67 with NOTICES
The Exchange has neither solicited
nor received written comments on the
proposed rule change.
10 15 U.S.C. 78f(b)(5).
VerDate Aug<31>2005 15:30 Nov 09, 2007 Jkt 214001
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Within 35 days of the date of
publication of this notice in the Federal
Register or within such longer period (i)
as the Commission may designate up to
90 days of such date if it finds such
longer period to be appropriate and
publishes its reasons for so finding or
(ii) as to which the Exchange consents,
the Commission will:
(A) by order approve the proposed
rule change, or
(B) institute proceedings to determine
whether the proposed rule change
should be disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views and
arguments concerning the foregoing,
including whether the proposed rule
change, as amended, is consistent with
the Exchange 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 e-mail to rule-
comments@sec.gov. Please include File
Number SR–NYSE–2006–99 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.
All submissions should refer to File
Number SR–NYSE–2006–99. 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.
PO 00000 Frm 00076 Fmt 4703 Sfmt 4703 E:\FR\FM\13NON1.SGM
Copies of such filing also will be
available for inspection and copying at
the principal office of the NYSE. All
comments received will be posted
without change; the Commission does
not edit personal identifying
information from submissions. You
should submit only information that
you wish to make available publicly. All
submissions should refer to File
Number SR–NYSE–2006–99 and should
be submitted on or before December 4,
2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.11
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–22066 Filed 11–9–07; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–56753; File No. SR–NYSE–
2007–97]
Self-Regulatory Organizations; New
York Stock Exchange LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Clarify That
a Member Organization May Still Use
the Express Consent Procedure for
Obtaining Consent From a Customer
To Trade Along on an Order-By-Order
Basis Under Rule 92(b)
November 6, 2007.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
notice is hereby given that on October
31, 2007, the New York Stock Exchange
LLC (‘‘NYSE’’ or ‘‘Exchange’’) filed with
the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change as described in
Items I, II, and III below, which Items
have been substantially prepared by
NYSE. The Exchange has designated
this proposal as one constituting a
stated policy, practice, or interpretation
with respect to the meaning,
administration, or enforcement of an
existing rule under Section
19(b)(3)(A)(i) of the Act 3 and Rule 19b–
4(f)(1) thereunder,4 which renders it
effective upon filing with the
Commission. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
11 17 CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(i).
4 17 CFR 240.19b–4(f)(1).
13NON1
 Federal Register / Vol. 72, No. 218 / Tuesday, November 13, 2007 / Notices
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to clarify the
consent provisions for trading along
under NYSE Rule 92 in an NYSE
Regulation, Inc. (‘‘NYSE Regulation’’)
Information Memo (‘‘Information
Memo’’). The text of the proposed rule
change is available at NYSE, the
Commission’s Public Reference Room,
and www.nyse.com.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
concerning the purpose of, and basis for,
the proposed rule change and discussed
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in Sections A, B, and C below, of
the most significant aspects of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
On July 5, 2007, the Commission
approved amendments to NYSE Rule 92
that, among other things, expanded the
consent provisions for trading along
under Rule 92(b).5 Under the pre-
amended version of the rule, members
or member organizations could trade
along with a customer order that could
be executed at the same price so long as
the customer had given express
permission, including an understanding
of the relative price and size of allocated
execution reports (‘‘express consent
procedure’’). Under the express consent
procedure, members or member
organizations needed to obtain and
document such consent on an order-by-
order basis.
As amended, a member or member
organization can trade along with a
customer order under Rule 92(b) so long
as the member organization
‘‘periodically provides written
disclosures to its customers and obtains
and documents affirmative consent’’
(‘‘affirmative consent procedure’’).
Because the affirmative consent
rfrederick on PROD1PC67 with NOTICES
procedure is broader than the express
consent procedure, the Exchange did
5 See Securities Exchange Act Release No. 56017
(July 5, 2007), 72 FR 38110 (July 12, 2007) (SR–
NYSE–2007–21).
VerDate Aug<31>2005 15:30 Nov 09, 2007 Jkt 214001
not keep the text of the express consent
procedure in the rule.
As explained in the Information
Memo, in expanding the consent
procedures under Rule 92(b), the
Exchange did not intend to prohibit the
use of the express consent procedure for
obtaining trade-along consent in a given
instance. The Information Memo
clarifies that a member organization
may still use the express consent
procedure for obtaining consent from a
customer to trade along on an order-by-
order basis under Rule 92(b).
Accordingly, if a customer does not
want to provide blanket affirmative
consent, a member organization may
still obtain consent on an order-by-order
basis to trade along with an order from
that customer.
In addition, the Information Memo
advises member organizations of a
recent NYSE Regulation Hearing Panel
decision concerning the express consent
procedure. In that decision, a member
organization was fined for failing to
adhere to principles of good business
practice because it did not record both
the customer contact name and the
percentage split when documenting
whether a customer provided trade-
along consent under the Rule 92(b)
express consent procedure.6 The
Information Memo informs member
organizations that NYSE Regulation
considers the failure to document the
contact name of the person who
provided the express consent to be a
violation not only of NYSE Rule 401,
but of NYSE Rule 92 as well.
The Information Memo also addresses
the September 30, 2007 deadline that
was part of the original filing. The
purpose of that deadline was to provide
member organizations with a grace
period to make the written disclosures
required under amended Rule 92. That
three-month grace period provided
firms with the opportunity to use the
new affirmative consent process
immediately upon approval of the
amended rule, even before their written
disclosures were finalized, so long as
the process of making written
disclosures and documenting the orally-
provided consents was completed by
September 30, 2007. Because the grace
period has expired, member
organizations must provide written
disclosures to their customers and
document the customers’ affirmative
consents before they may trade along
with such customers.7
6 See In re Merrill Lynch, Pierce, Fenner & Smith
Incorporated, NYSE Hearing Board Decision 07–005
(January 12, 2007).
7 In addition, the Information Memo answers
inquiries that NYSE Regulation has received from
PO 00000 Frm 00077 Fmt 4703 Sfmt 4703 E:\FR\FM\13NON1.SGM
63949
2. Statutory Basis
The basis under the Act for this
proposed rule change is the requirement
under Section 6(b)(5) 8 that an Exchange
have rules that are designed to promote
just and equitable principles of trade, to
remove impediments to and perfect the
mechanism of a free and open market
and a national market system, and, in
general, to protect investors and the
public interest.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants or Others
The Exchange has neither solicited
nor received written comments on the
proposed rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing proposed rule change
has become effective pursuant to
Section 19(b)(3)(A)(i) of the Act 9 and
subparagraph (f)(1) of Rule 19b–4
thereunder,10 because it constitutes a
stated policy, practice, or interpretation
with respect to the meaning,
administration, or enforcement of an
existing rule. 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
a number of member organizations regarding the
scope and application of amended Rule 92(b). That
portion of the Information Memo is not subject to
this rule filing.
8 15 U.S.C. 78f(b)(5).
9 15 U.S.C. 78s(b)(3)(A)(i).
10 17 CFR 240.19b–4(f)(1).
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 63950 Federal Register / Vol. 72, No. 218 / Tuesday, November 13, 2007 / Notices
• Send an e-mail to rule-
comments@sec.gov. Please include File
Number SR–NYSE–2007–97 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–1090.
All submissions should refer to File
Number SR–NYSE–2007–97. This file
number should be included on the
subject line if e-mail is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
Internet Web site (http://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for inspection and copying in
the Commission’s Public Reference
Room, on official business days between
the hours of 10 a.m. and 3 p.m. Copies
of the filing also will be available for
inspection and copying at the principal
office of NYSE. All comments received
will be posted without change; the
Commission does not edit personal
identifying information from
submissions. You should submit only
information that you wish to make
available publicly. All submissions
should refer to File Number SR–NYSE–
2007–97 and should be submitted on or
before December 4, 2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.11
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–22099 Filed 11–9–07; 8:45 am]
BILLING CODE 8011–01–P
SOCIAL SECURITY ADMINISTRATION
[Document No. SSA–2007–0087]
The Ticket to Work and Work
Incentives Advisory Panel Meeting
rfrederick on PROD1PC67 with NOTICES
AGENCY: Social Security Administration
(SSA).
ACTION: Notice of Teleconference.
11 17 CFR 200.30–3(a)(12).
VerDate Aug<31>2005 15:30 Nov 09, 2007 Jkt 214001
DATE: November 26, 2007—4:30 p.m. to
8:30 p.m. Eastern Standard Time, Ticket
to Work and Work Incentives Advisory
Panel Conference Call, Call-in number:
1–888–790–4158, Pass code: PANEL
TELECONFERENCE, Leader/Host:
Berthy De la Rosa-Aponte.
SUPPLEMENTARY INFORMATION:
Type of meeting: On November 26,
2007, the Ticket to Work and Work
Incentives Advisory Panel (the ‘‘Panel’’)
will hold a teleconference. This
teleconference meeting is open to the
public.
Purpose: In accordance with section
10(a)(2) of the Federal Advisory
Committee Act, the Social Security
Administration (SSA) announces this
teleconference meeting of the Ticket to
Work and Work Incentives Advisory
Panel. The publication of this
announcement may not meet the 15 day
advance notice requirement provided in
CFR 102.3.150. The need for this
teleconference was not previously
anticipated and therefore not scheduled,
but will be required to allow further
deliberation on the Panel’s final report.
Section 101(f) of Public Law 106–170
establishes the Panel to advise the
President, the Congress, and the
Commissioner of SSA on issues related
to work incentive programs, planning,
and assistance for individuals with
disabilities as provided under section
101(f)(2)(A) of the Act.
The Panel is also to advise the
Commissioner on matters specified in
section 101(f)(2)(B) of that Act,
including certain issues related to the
Ticket to Work and Self-Sufficiency
Program established under section
101(a).
Agenda: The agenda for the meeting
will be posted on the Internet at
http://www.ssa.gov/work/panel at least
one week before the starting date or can
be received, in advance, electronically
or by fax upon request.
Contact Information: Records are kept
of all proceedings and will be available
for public inspection by appointment at
the Panel office. Anyone requiring
information regarding the Panel should
contact the staff by:
• Mail addressed to the Social
Security Administration, Ticket to Work
and Work Incentives Advisory Panel
Staff, 400 Virginia Avenue, SW., Suite
700, Washington, DC 20024. Telephone
contact with Debra Tidwell-Peters at
(202) 358–6126.
• Fax at (202) 358–6440
• E-mail to TWWIIAPanel@ssa.gov.
PO 00000 Frm 00078 Fmt 4703 Sfmt 4703 E:\FR\FM\13NON1.SGM
Dated: November 6, 2007.
Chris Silanskis,
Designated Federal Officer.
[FR Doc. E7–22171 Filed 11–9–07; 8:45 am]
BILLING CODE 4191–02–P
DEPARTMENT OF STATE
[Public Notice 5989]
Culturally Significant Objects Imported
for Exhibition Determinations:
‘‘Projects 86: Gert & Uwe Tobias’’
SUMMARY: Notice is hereby given of the
following determinations: Pursuant to
the authority vested in me by the Act of
October 19, 1965 (79 Stat. 985; 22 U.S.C.
2459), Executive Order 12047 of March
27, 1978, the Foreign Affairs Reform and
Restructuring Act of 1998 (112 Stat.
2681, et seq.; 22 U.S.C. 6501 note, et
seq.), Delegation of Authority No. 234 of
October 1, 1999, Delegation of Authority
No. 236 of October 19, 1999, as
amended, and Delegation of Authority
No. 257 of April 15, 2003 [68 FR 19875],
I hereby determine that the objects to be
included in the exhibition ‘‘Projects 86:
Gert & Uwe Tobias,’’ imported from
abroad for temporary exhibition within
the United States, are of cultural
significance. The objects are imported
pursuant to loan agreements with the
foreign owners or custodians. I also
determine that the exhibition or display
of the exhibit objects at the Museum of
Modern Art, New York, New York, from
on or about November 28, 2007, until on
or about February 25, 2008, and at
possible additional exhibitions or
venues yet to be determined, is in the
national interest. Public Notice of these
Determinations is ordered to be
published in the Federal Register.
FOR FURTHER INFORMATION CONTACT: For
further information, including a list of
the exhibit objects, contact Paul W.
Manning, Attorney-Adviser, Office of
the Legal Adviser, U.S. Department of
State (telephone: 202/453–8052). The
address is U.S. Department of State, SA–
44, 301 4th Street, SW., Room 700,
Washington, DC 20547–0001.
Dated: November 2, 2007.
C. Miller Crouch,
Principal Deputy Assistant Secretary for
Educational and Cultural Affairs, Department
of State.
[FR Doc. E7–22152 Filed 11–9–07; 8:45 am]
BILLING CODE 4710–05–P
13NON1