Securities Law Updates | New Releases/No Action Letters
December 15, 2008
SEC Releases Order Approving Option Clearing Corp.'s Rule Changes
Order Granting Approval of a Proposed Rule Change Relating to Late Exercises
Release No. 34-59046; File No. SR-OCC-2007-16, 12/3/2008
The Securities and Exchange Commission (“SEC”) has approved a proposed rule change (SR-OCC-2007-16) submitted under Rule 19b-4 by the Options Clearing Corporation (OCC”) that amends OCC’s rules relating to the submission of late items and the fees associated with filing exercise notices after the start of critical processing.
The rule filing will amend OCC’s (1) Rule 801 to modify the fee applied to exercise notices that are accepted by OCC after the start of critical processing, (2) Rule 805 to make conforming changes to the filing fees applied to the submission of supplementary exercise notices tendered after critical processing, and (3)…
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