[Federal Register: May 21, 2010 (Volume 75, Number 98)]
[Notices]
[Page 28622-28623]
[DOCID:fr21my10-88]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2009-N-0247]

FDA Transparency Initiative: Draft Proposals for Public Comment
Regarding Disclosure Policies of the U.S. Food and Drug Administration;
Availability

AGENCY: Food and Drug Administration, HHS.

ACTION:  Notice of availability; request for comments.

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SUMMARY:  As part of the second phase of the Transparency Initiative,
the Food and Drug Administration (FDA) is announcing the availability
of a report entitled ``FDA Transparency Initiative: Draft Proposals for
Public Comment Regarding Disclosure Policies of the U.S. Food and Drug
Administration.'' The report includes 21 draft proposals about
expanding disclosure of information by the agency while maintaining
confidentiality of trade secrets and individually identifiable patient
information. FDA is seeking public comment on the draft proposals, as
well as on which draft proposals should be given priority. Some of the
draft proposals may require extensive resources to implement, and some
may require changes to regulations or legislation.

DATES:  Submit either electronic or written comments by July 20, 2010.

ADDRESSES:  Submit electronic comments to http://www.regulations.gov or
on the FDA Web site, www.fda.gov/transparency. Submit written comments
to the Division of Dockets Management (HFA-305), Food and Drug
Administration, 5630 Fishers Lane, rm. 1061, Rockville, MD 20852. All
comments should be identified with the docket number found in brackets
at the heading of this document.

FOR FURTHER INFORMATION CONTACT:  Afia Asamoah, Office of the
Commissioner, Food and Drug Administration, 10903 New Hampshire Ave.,
Bldg 1, rm. 2220, Silver Spring, MD 20993,<PHONE_NUMBER>, FAX: 301-847-
3531, e-mail<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. Background

    Every day, the U.S. Food and Drug Administration (FDA) makes
important health and safety decisions about foods, drugs, medical
devices, cosmetics, and other widely used consumer products.
Transparency in FDA's activities and decisionmaking allows the public
to better understand the agency's decisions, increasing credibility and
promoting accountability. Transparency helps the agency to more
effectively protect and promote the public health.
    In January 2009, President Obama issued a memorandum on
Transparency and Open Government calling for an ``unprecedented level
of openness in Government'' and directing the Director of the Office of
Management and Budget (OMB) to issue an Open Government Directive
instructing executive departments and agencies to take specific actions
to implement the principles of transparent, collaborative, and
participatory government. The Open Government Directive was issued in
December. Under the leadership of Secretary Kathleen Sebelius, the U.S.
Department of Health and Human Services has also prioritized
transparency and openness. In June 2009, FDA Commissioner Dr. Margaret
Hamburg launched FDA's Transparency Initiative to implement these
efforts at FDA.
    The initiative is overseen by a Task Force representing key leaders
of FDA. The internal task force is chaired by the Principal Deputy
Commissioner of the FDA and includes five of the agency's center
directors, the Chief Counsel, the Associate Commissioner of Regulatory
Affairs, and the Chief Scientist. The Task Force is charged with
submitting a written report to the Commissioner on the Task Force's
findings and recommendations.
    Over the last 11 months, the Task Force has held two public
meetings, launched an online blog (http://fdatransparencyblog.fda.gov/
), and opened a docket. The online blog and the docket have received
over 1,500 comments.
    The Task Force is proceeding with the Transparency Initiative in
three phases:
     Phase I: FDA Basics
     Phase II: Public Disclosure
     Phase III: Transparency to Regulated Industry
    Phase I is intended to provide the public with basic information
about FDA and how the agency does its work. This phase was unveiled in
early January 2010 with the launch of a web-based resource called FDA
Basics (www.fda.gov/fdabasics). The resource now includes (1) 126
questions and answers about FDA and the products that the agency
regulates, (2) 9 short videos that explain various FDA activities, and
(3) 10 conversations with FDA officials about the work of their
Offices. Each month, senior officials from FDA product centers and
offices host online sessions about a specific topic and answer
questions from the

public about that topic. FDA uses the feedback provided by the public
to update this resource.
    Phase II is the subject of this document and is described in more
detail in section II of this document.
    Phase III of the Transparency Initiative will address ways FDA can
become more transparent to regulated industry, to foster a more
efficient and cost-effective regulatory process. The Task Force
solicited comments from the public on this topic in March 2010 (75 FR
11893, March 12, 2010) and draft proposals from this phase are expected
in the summer of 2010.

II. Phase II: Public Disclosure

    The second phase of the Transparency Initiative relates to FDA's
policies on disclosure of information to the public about FDA
activities. FDA is releasing a report that contains 21 draft proposals
that we are issuing for public comment. The draft proposals, along with
background material, can be found on the FDA Web site at www.fda.gov/
transparency. FDA is accepting comments from the public on the draft
proposals on the FDA Web site as well as through the docket (see
section III of this notice).
    The Task Force solicited comments from the public about information
FDA should provide to the public about what FDA is doing, the bases for
the agency's decisions, and the processes used to make agency
decisions. The Task Force reviewed and considered all the comments
received from a range of stakeholders. The Task Force also identified
on its own initiative ways to improve transparency that are reflected
in the report.
    In the report, the Task Force makes available for public comment 21
draft proposals for changes in policy related to the disclosure of
information FDA has in its possession, while supporting the redaction
of trade secrets and individually identifiable patient information from
all documents proposed for disclosure. Other topics on which FDA plans
to make changes or on which the Task Force is not proposing policy
changes at this time are discussed in the ``Other Areas of Public
Comment'' section of the report.
    After considering public comment on the draft proposals, the Task
Force will recommend specific proposals to the Commissioner for
consideration, and then FDA will announce which of the proposals it
will implement, and the projected timeframe for implementation. Some of
the draft proposals may require extensive resources to implement, and
some may require changes to regulations or legislation. Therefore, in
addition to input on the content of the proposals and whether the Task
Force has struck the right balance with respect to the draft proposals,
FDA is seeking input on how the agency should prioritize the proposals,
if it decided to implement them. The Task Force will consider
feasibility and priority, considering other agency priorities that
require resources, when developing its specific recommendations for the
Commissioner.

III. Request for Comments

    FDA is interested in receiving comments from the public about the
content of the draft proposals as well as on which draft proposals
should be given priority. Interested persons may submit to the Division
of Dockets Management (see ADDRESSES) either electronic or written
comments regarding this document. It is only necessary to send one set
of comments. It is no longer necessary to send two copies of mailed
comments. Identify the draft proposal which your comment addresses by
the number assigned to that proposal. Identify comments with the docket
number found in brackets in the heading of this document. Received
comments may be seen in the Division of Dockets Management between 9
a.m. and 4 p.m., Monday through Friday. Comments can also be submitted
on each draft proposal via the FDA Web site, www.fda.gov/transparency.

    Dated: May 17, 2010.
Leslie Kux,
Acting Assistant Commissioner for Policy.
[FR Doc. 2010-12314 Filed 5-19-10; 8:45 am]
BILLING CODE 4160-01-S


[Federal Register: July 13, 2009 (Volume 74, Number 132)]
[Notices]
[Page 33495-33496]
[DOCID:fr13jy09-140]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-60247; File No. SR-BX-2009-021]

Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Order
Approving Proposed Rule Change to Amend the Restated Certificate of
Incorporation and By-Laws of NASDAQ OMX BX, Inc.

July 6, 2009.
    On April 29, 2009, NASDAQ OMX BX, Inc. (``BX'' 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 its Restated Certificate of Incorporation (``Certificate'') and
by-laws (``By-Laws''). The proposed rule change was published for
comment in the Federal Register on May 19, 2009.\3\ The Commission
received no comments regarding the proposal. This order approves the
proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 59908 (May 12,
2009), 74 FR 23459 (``Notice'').
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I. Description of the Proposed Rule Change

    On August 29, 2008, The NASDAQ OMX Group, Inc. (``NASDAQ OMX'')
acquired BX. Since then, the boards of BX and its parent company,
NASDAQ OMX, have maintained their own audit committee and management
compensation committee. As more fully discussed in the Notice, the
Exchange states that it has found the work of these committees to
overlap substantially.\4\ As a result, BX proposes to revise its By-
Laws to allow for the elimination of its audit and management
compensation committees. In addition, BX proposes to amend its
Certificate and By-Laws to reflect the name change of The Nasdaq Stock
Market, Inc. to The NASDAQ OMX Group, Inc. II.
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    \4\ See Notice, supra note 3, 74 FR at 23460.
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Discussion and Commission Findings

    After careful review, 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)(1) of the Act,\6\ which requires a
national securities exchange to be so organized and have the capacity
to carry out the purposes of the Act and to comply, and to enforce
compliance by its members and persons associated with its members, with
the provisions of the Act. The Commission also finds that the proposed
rule change is consistent with Section 6(b)(5) of the Act,\7\ in that
it is designed, among other things, to prevent fraudulent and
manipulative acts and practices, to promote just and equitable
principles of trade, to remove impediments to and perfect the mechanism
of a free and open market and a national market system, and, in
general, to protect investors and the public interest. The Commission

previously approved a structure in which certain committees of the
board of directors of NYSE Euronext, including the audit and
compensation committees, were authorized to perform functions for
various subsidiaries, including the New York Stock Exchange, LLC
(``NYSE'').\8\
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    \5\ 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).
    \6\ 15 U.S.C. 78(b)(1).
    \7\ 15 U.S.C. 78f(b)(5).
    \8\ Securities Exchange Act Release No. 55293 (February 14,
2007), 72 FR 8033 (February 22, 2007) (SR-NYSE-2006-120).
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    The BX Audit Committee. Currently, the BX audit committee is
primarily charged with: (1) Overseeing BX's financial reporting
process; (2) overseeing the systems of internal controls established by
management and the BX board, as well as the legal and compliance
process; (3) selection and evaluation of independent auditors; and (4)
direction and oversight of the internal audit function. BX states that
the NASDAQ OMX audit committee \9\ will assume the duties currently
performed by the BX audit committee once that committee is eliminated.
The Exchange states that the responsibilities of BX's audit committee
are fully duplicated by the responsibilities of the NASDAQ OMX audit
committee.\10\ In addition, BX states that its regulatory oversight
committee has broad authority to oversee the adequacy and effectiveness
of BX's regulatory and self-regulatory organization responsibilities,
and therefore is able to maintain oversight over internal controls in
tandem with the NASDAQ OMX audit committee. Further, BX states that the
practice of NASDAQ OMX's Internal Audit Department
(``Department''),\11\ which performs internal audit functions for all
NASDAQ OMX subsidiaries, is to report to the BX regulatory oversight
committee on all internal audit matters relating to BX, which will be
formally reflected in the Department's written procedures. BX also
represents that, to ensure that the BX board retains authority to
direct the Department's activities with respect to BX, the Department's
written procedures will be amended to stipulate that the BX regulatory
oversight committee may, at any time, direct the Department to conduct
an audit of a matter of concern to it and report the results of the
audit both to the BX regulatory oversight committee and the NASDAQ OMX
audit committee.\12\
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    \9\ The NASDAQ OMX audit committee is composed of four or five
directors, all of whom must be independent under the standards
established by Section 10A(m) of the Act and the listing rules of
The NASDAQ Stock Market LLC. All committee members must be able to
read and understand financial statements, and at least one member
must have past employment experience in finance or accounting,
requisite professional certification in accounting, or any other
comparable experience or background that results in the individual's
financial sophistication.
    \10\ Specifically, BX states that: the NASDAQ OMX audit
committee has broad authority to review the financial information
that will be provided to shareholders and others, systems of
internal controls, and audit, financial reporting and legal and
compliance processes and, because NASDAQ OMX's financial statements
are prepared on a consolidated basis that includes the financial
results of NASDAQ OMX's subsidiaries, including BX, the NASDAQ OMX
audit committee's purview necessarily includes these subsidiaries.
In addition, BX states that the NASDAQ OMX audit committee currently
is charged with providing oversight over financial reporting and
independent auditor selection for NASDAQ OMX and all of its
subsidiaries, including BX, and the NASDAQ OMX audit committee has
general responsibility for oversight over internal controls and
direction and oversight over the internal audit function for NASDAQ
OMX and all of its subsidiaries. See Notice, 74 FR at 23460.
    \11\ See Notice, 74 FR at 23460-61.
    \12\ See Notice, 74 FR at 23461.
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    BX Management Compensation Committee. BX also proposes to eliminate
its compensation committee, and to prescribe that the functions of that
committee be performed by the NASDAQ OMX compensation committee or the
full BX board, when required. The NASDAQ OMX By-Laws provide that its
compensation committee considers and recommends compensation policies,
programs, and practices for employees of NASDAQ OMX. According to BX,
many employees performing work for BX are also employees of NASDAQ OMX,
and certain senior officers of BX are also officers of NASDAQ OMX and
other NASDAQ OMX subsidiaries because their responsibilities relate to
multiple entities within the NASDAQ OMX corporate structure.\13\ As a
result, NASDAQ OMX establishes compensation and compensation policy for
these employees.
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    \13\ Id.
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    To the extent that policies, programs, and practices must be
established for any BX officers or employees who are not also NASDAQ
OMX officers or employees, BX states that the BX Board will perform
such actions without the use of a compensation committee, subject to
recusal by Staff Directors,\14\ unless the persons in question are also
employees of Boston Options Exchange Regulation LLC (``BOXR'').\15\
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    \14\ See BX By-Laws Article I(t). Staff Directors are directors
of BX that are also serving as officers. Because the BX board would
not be responsible for setting the compensation of any Staff
Directors who are also officers of NASDAQ OMX, these directors would
be permitted to participate in discussions concerning compensation
of BX employees, but BX states that they must recuse themselves from
a vote on the subject to allow the determination to be made by
directors that are not officers or employees of BX. BX also states
that, if a Staff Director is not also an employee of NASDAQ OMX,
that Staff Director must also absent himself or herself from any
deliberations regarding his or her compensation.
    \15\ BOXR is the subsidiary of BX that has been delegated
responsibility to regulate the market operated by Boston Options
Exchange Group LLC (``BOX''), an options exchange that is a facility
of BX but in which neither BX nor any of its affiliates has a
financial interest. Section 17 of the By-Laws of BOXR (which are
part of its Limited Liability Company Agreement) provides that the
compensation of BOXR's officers shall be determined by the BOXR
Board. Because of BOXR's special status as a regulatory subsidiary,
this provision will remain operative following the implementation of
the rule change proposed by this filing. The Commission notes that,
under the By-Laws, BX's regulatory oversight committee must be
informed about the compensation and promotion or termination of the
BX chief regulatory officer and the reasons therefor, to allow it to
provide oversight over decisions affecting this key officer. See BX
By-Laws Section 4.13(e).
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    The Commission notes that the proposed elimination of the BX audit
and management compensation committees is comparable to a structure for
the NYSE that the Commission previously considered and approved.\16\
The Commission finds that the proposed elimination of the BX's audit
and management compensation committees is consistent with the Exchange
Act.
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    \16\ See supra note 8.
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II. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\17\ that the proposed rule change (SR-BX-2009-021) be, and it
hereby is, approved.
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    \17\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\18\
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    \18\ 17 CFR 200.30-3(a)(12).
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Elizabeth M. Murphy,
Secretary.
[FR Doc. E9-16450 Filed 7-10-09; 8:45 am]

BILLING CODE 8010-01-P


[Federal Register Volume 78, Number 99 (Wednesday, May 22, 2013)]
[Notices]
[Pages 30364-30365]
[FR Doc No: 2013-12165]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-69595; File No. SR-OCC-2013-06]

Self-Regulatory Organizations; The Options Clearing Corporation;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Accommodate the Use of Vault Receipts or Warehouse Depository Receipts
in Electronic Form, Rather Than Vault Receipts or Warehouse Depository
Receipts in Physical Form, To Represent the Metals Underlying
Physically-Settled Futures Contracts on Metals Traded by NYSE Liffe US
LLC

May 16, 2013.
    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 May 13, 2013, The Options Clearing Corporation (``OCC'') 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 the clearing agency. OCC filed the proposed rule change
pursuant to Section 19(b)(3)(A)(i) of the Act \3\ and Rule 19b(4)(f)(1)
thereunder \4\ so that the proposal was effective upon filing with the
Commission. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A)(i).
    \4\ 17 CFR 240.19b-4(f)(1).
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I. Clearing Agency's Statement of the Terms of Substance of the
Proposed Rule Change

    OCC proposes to accommodate the use of vault receipts or warehouse
depository receipts in electronic form (``electronic receipts''),
rather than vault receipts or warehouse depository receipts in physical
form, to represent the metals underlying physically-settled futures
contracts on metals (``Precious Metals Futures'') traded by NYSE Liffe
US LLC (``NYSE Liffe US'').

II. Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change

    In its filing with the Commission, OCC 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. OCC has prepared summaries, set forth in sections A, B,
and C below, of the most significant aspects of such statements.

(A) Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change

    The primary purpose of this proposed rule change is to revise OCC's
Rules (the ``Rules'') to accommodate NYSE Liffe US's transition to
using electronic receipts, rather than vault receipts or warehouse
depository receipts in physical form, to represent the metals
underlying Precious Metals Futures. To make this accommodation, OCC
proposes to revise its Rules regarding the delivery of the metals
underlying such futures contracts to provide that the vault receipts
used to facilitate settlement can be held in either electronic or
physical form during a transition period and, after such transition
period expires, must be in electronic form. In addition, the proposed
Rules clarify that the warehouse depository receipts created by NYSE
Liffe US represent a proportional interest in a specified pool of the
vault receipts held by NYSE Liffe US for contracts such as 100 oz. gold
futures and 5,000 oz. silver futures. Such warehouse depository
receipts shall be used in the settlement of mini-sized gold and silver
futures and shall, in all cases, be in electronic form. The proposed
Rules also clarify that vault receipts that are subject to third party
liens or encumbrances are not eligible to be delivered to settle
obligations pertaining to Precious Metals Futures.
    In the event of a default or insolvency by either the delivering or
receiving Clearing Member with respect to a Precious Metals Futures
contract, OCC is required to pay damages to the non-defaulting Clearing
Member. The amount of damages is determined by OCC, taking into account
the delivery payment amount for the applicable Precious Metals Futures
contract, the market price of the underlying interest, market
conditions generally and reasonable and customary transaction costs
applicable to transactions in the underlying interest. As a means of
allowing OCC to complete delivery of the underlying precious metals
owed by, or recover the amount of damages from, the defaulting Clearing
Member, the proposed Rules authorize OCC to maintain a perfected
security interest, or lien, in the vault receipts tendered for delivery
during the delivery process. This lien will be automatically released
at 10:00 a.m. Central Time on the related delivery date unless by such
time OCC provides NYSE Liffe US with a notification that there was a
default by the delivering Clearing Member, thereby keeping the lien in
place. OCC intends to perfect its security interest in three ways: (a)
By control; (b) by possession through a bailee; and (c) by filing
financing statements.
Perfection by Control
    Revised Article 7 of the Uniform Commercial Code (``UCC'') permits
a secured party with a security interest in an electronic document of
title to perfect that security interest by ``control.'' Revised Article
7 of the UCC is in effect in Illinois, but not in New York. OCC
believes that certain procedures undertaken by NYSE Liffe US through
its electronic delivery system, as detailed in the Amended and Restated
Clearing Agreement (which is governed by the law of the state of
Illinois), (a) conform to the requirements of Revised Article 7 of the
UCC, as in effect in Illinois, and (b) are designed to effect the
perfection of OCC's security interest in the electronic receipts
through ``control.'' OCC effects perfection of its security interest in
the electronic receipts by ``control'' in accordance with Revised
Article 7 of the UCC, because NYSE Liffe US's electronic delivery
system reliably establishes OCC as the transferee of such electronic
receipts during the delivery process.
Perfection Through Bailee
    In the event a court applies the laws of a jurisdiction that has
not adopted Revised Article 7 of the UCC, OCC believes that its
security interest in the electronic receipts would still be perfected
under Article 9 of the UCC because of the bailment arrangements in
place with the vaults holding the underlying precious metals. Each
vault will sign a vault agreement agreeing that the vault holds the
metals on behalf of OCC during the delivery process. OCC is an express
third-party beneficiary of these vault agreements.
Perfection by Filing Financing Statements
    In addition, both OCC's Rules and the Amended and Restated Clearing
Agreement provide for a secondary method of perfecting OCC's security
interest in both the electronic receipts and the underlying precious
metals through the filing of financing statements against each Clearing
Member in accordance with Article 9 of the UCC. Filing financing
statements is an effective way to perfect the security interest in
jurisdictions with, and without, Revised Article 7 of the UCC in
effect.

    OCC believes that its primary and secondary perfection methods
provide it with ample protection in the event of one of its clearing
members fails to deliver a vault receipt that represent metals
underling Precious Metals Futures. OCC perfected its security interest
in such vault receipts through methods of perfection that work in
jurisdictions that have adopted Revised Article 7 of the UCC, like
Illinois, and in jurisdictions that have not, like New York. OCC has
also adopted traditional perfection methods such as filing financing
statements. Moreover, OCC requires each Clearing Member to deposit
margin, which provides protection for OCC in the event of a Clearing
Member's failure to satisfy its delivery or receipt obligations in
respect of the settlement of Precious Metals Futures.
    The proposed changes to OCC's By-Laws and Rules are consistent with
the purposes and requirements of Section 17A(b)(3)(A) of the Securities
Exchange Act of 1934, as amended (the ``Exchange Act'' or ``Act''),
because they are designed to permit OCC to perform clearing services
for products that are subject to the jurisdiction of the Commodity
Futures Trading Commission (the ``CFTC'') without adversely affecting
OCC's obligations with respect to the prompt and accurate clearance and
settlement of securities transactions or the protection of securities
investors and the public interest. They accomplish this purpose by
revising existing procedures regarding the delivery of metals
underlying certain physically-settled futures and futures option
contracts to make express provision for the use of warehouse depository
receipts in electronic form and for a transition to the use of vault
receipts that are also in electronic form as a more efficient method of
delivery consistent with evolving industry practice. The proposed rule
change is not inconsistent with any rules of OCC, including any rules
proposed to be amended.

(B) Clearing Agency's Statement on Burden on Competition

    OCC does not believe that the proposed rule change would impose any
burden on competition that is not necessary or appropriate in
furtherance of the Act because it relates solely to a commodity futures
product subject to the exclusive jurisdiction of the Commodity Futures
Trading Commission and therefore will not have any impact, or impose
any burden, on competition in securities markets or any other market
governed by the Act.

(C) Clearing Agency's Statement on Comments on the Proposed Rule Change
Received From Members, Participants, or Others

    Written comments on the proposed rule change were not and are not
intended to be solicited with respect to the proposed rule change and
none have been received.

III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(i) of the Act \5\ and paragraph (f)(i) of Rule 19b-4
thereunder \6\ because it constitutes a stated policy, practice, or
interpretation with respect to the meaning, administration, or
enforcement of an existing rule. OCC states that it will delay the
implementation of the rule change until it is deemed certified under
CFTC Regulation Sec.  40.6.\7\ At any time within 60 days of the filing
of the proposed rule change, the Commission summarily may temporarily
suspend such rule change if it appears to the Commission that such
action is necessary or appropriate in the public interest, for the
protection of investors, or otherwise in furtherance of the purposes of
the Act.
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    \5\ 15 U.S.C. 78s(b)(3)(A)(i).
    \6\ 17 CFR 240.19b-4(f)(1).
    \7\ 17 CFR 40.6.
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IV. Solicitation of Comments

    Interested persons are invited to submit written data, views and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-OCC-2013-06 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street NE.,
Washington, DC 20549-1090.
    All submissions should refer to File Number SR-OCC-2013-06. This
file number should be included on the subject line if email 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 Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549 on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the filing also will be available
for inspection and copying at the principal office of OCC and on OCC's
Web site (http://www.theocc.com/about/publications/bylaws.jsp). 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-OCC-2013-06 and should be
submitted on or before June 12, 2013.
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    \8\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-12165 Filed 5-21-13; 8:45 am]
BILLING CODE 8011-01-P