[Federal Register Volume 86, Number 47 (Friday, March 12, 2021)]
[Notices]
[Pages 14141-14144]
[FR Doc No: 2021-05222]

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DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

[Docket ID FEMA-2021-0002]

Changes in Flood Hazard Determinations

AGENCY: Federal Emergency Management Agency, Department of Homeland
Security.

ACTION: Notice.

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SUMMARY: New or modified Base (1-percent annual chance) Flood
Elevations (BFEs), base flood depths, Special Flood Hazard Area (SFHA)
boundaries or zone designations, and/or regulatory floodways
(hereinafter referred to as flood hazard determinations) as shown on
the indicated Letter of Map Revision (LOMR) for each of the communities
listed in the table below are finalized. Each LOMR revises the Flood
Insurance Rate Maps (FIRMs), and in some cases the Flood Insurance
Study (FIS) reports, currently in effect for the listed communities.
The flood hazard determinations modified by each LOMR will be used to
calculate flood insurance premium rates for new buildings and their
contents.

DATES: Each LOMR was finalized as in the table below.

ADDRESSES: Each LOMR is available for inspection at both the respective
Community Map Repository address listed in the table below and online
through the FEMA Map Service Center at https://msc.fema.gov.

FOR FURTHER INFORMATION CONTACT: Rick Sacbibit, Chief, Engineering
Services Branch, Federal Insurance and Mitigation Administration, FEMA,
400 C Street SW, Washington, DC 20472,<PHONE_NUMBER>, or (email)
<EMAIL_ADDRESS>or visit the FEMA Mapping and Insurance
eXchange (FMIX) online at https://www.floodmaps.fema.gov/fhm/fmx_main.html.

SUPPLEMENTARY INFORMATION: The Federal Emergency Management Agency
(FEMA) makes the final flood hazard determinations as shown in the
LOMRs for each community listed in the table below. Notice of these
modified flood hazard determinations has been published in newspapers
of local circulation and 90 days have elapsed since that publication.
The Deputy Associate Administrator for Insurance and Mitigation has
resolved any appeals resulting from this notification.
    The modified flood hazard determinations are made pursuant to
section 206 of the Flood Disaster Protection Act of 1973, 42 U.S.C.
4105, and are in accordance with the National Flood Insurance Act of
1968, 42 U.S.C. 4001 et seq., and with 44 CFR part 65.
    For rating purposes, the currently effective community number is
shown and must be used for all new policies and renewals.
    The new or modified flood hazard information is the basis for the
floodplain management measures that the community is required either to
adopt or to show evidence of being already in effect in order to remain
qualified for participation in the National Flood Insurance Program
(NFIP).
    This new or modified flood hazard information, together with the
floodplain management criteria required by 44 CFR 60.3, are the minimum
that are required. They should not be construed to mean that the
community must change any existing ordinances that are more stringent
in their floodplain management requirements. The community may at any
time enact stricter requirements of its own or pursuant to policies
established by other Federal, State, or regional entities.
    This new or modified flood hazard determinations are used to meet
the floodplain management requirements of

the NFIP and are used to calculate the appropriate flood insurance
premium rates for new buildings, and for the contents in those
buildings. The changes in flood hazard determinations are in accordance
with 44 CFR 65.4.
    Interested lessees and owners of real property are encouraged to
review the final flood hazard information available at the address
cited below for each community or online through the FEMA Map Service
Center at https://msc.fema.gov.

(Catalog of Federal Domestic Assistance No. 97.022, ``Flood
Insurance.'')

Michael M. Grimm,
Assistant Administrator for Risk Management, Department of Homeland
Security, Federal Emergency Management Agency.

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                                    Location and case     Chief executive officer of                                                          Community
        State and county                   No.                    community               Community map repository     Date of modification      No.
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Alabama:
    Tuscaloosa (FEMA Docket No.:  City of Northport     The Honorable Donna Aaron,     City Hall, 3500 McFarland      Feb. 2, 2021.........       010202
     B-2073).                      (20-04-4421P).        Mayor, City of Northport,      Boulevard, Northport, AL
                                                         3500 McFarland Boulevard,      35476.
                                                         Northport, AL 35476.
    Tuscaloosa (FEMA Docket No.:  Unincorporated areas  The Honorable Rob Robertson,   Tuscaloosa County Public       Feb. 2, 2021.........       010201
     B-2073).                      of Tuscaloosa         Probate Judge, Tuscaloosa      Works Department, 2810 35th
                                   County (20-04-        County, 714 Greensboro         Street, Tuscaloosa, AL
                                   4421P).               Avenue, Tuscaloosa, AL         35401.
                                                         35401.
Colorado:
    Boulder (FEMA Docket No.: B-  City of Boulder (20-  The Honorable Sam Weaver,      Central Records Department,    Feb. 19, 2021........       080024
     2073).                        08-0632P).            Mayor, City of Boulder, P.O.   1777 Broadway Street,
                                                         Box 791, Boulder, CO 80306.    Boulder, CO 80302.
    Boulder (FEMA Docket No.: B-  Unincorporated areas  The Honorable Deb Gardner,     Boulder County Department of   Feb. 19, 2021........       080023
     2073).                        of Boulder County     Chair, Boulder County Board    Public Works, 1739 Broadway,
                                   (20-08-0632P).        of Commissioners, P.O. Box     Suite 300, Boulder, CO
                                                         471, Boulder, CO 80306.        80306.
    Denver (FEMA Docket No.: B-   City and County of    The Honorable Michael B.       Department of Public Works,    Feb. 11, 2021........       080046
     2067).                        Denver (20-08-        Hancock, Mayor, City and       201 West Colfax Avenue,
                                   0372P).               County of Denver, 1437 North   Denver, CO 80202.
                                                         Bannock Street, Room 350,
                                                         Denver, CO 80202.
    El Paso (FEMA Docket No.: B-  Unincorporated areas  The Honorable Mark Waller,     Pikes Peak Regional            Feb. 16, 2021........       080059
     2067).                        of El Paso County     Chairman, El Paso County       Development Center, 2880
                                   (20-08-0369P).        Board of Commissioners, 200    International Circle,
                                                         South Cascade Avenue, Suite    Colorado Springs, CO 80910.
                                                         100, Colorado Springs, CO
                                                         80903.
    Weld (FEMA Docket No.: B-     City of Greeley (20-  The Honorable John Gates,      City Hall, 1000 10th Street,   Feb. 16, 2021........       080184
     2073).                        08-0390P).            Mayor, City of Greeley, 1000   Greeley, CO 80631.
                                                         10th Street, Greeley, CO
                                                         80631.
Connecticut: New Haven (FEMA      Town of Seymour (20-  The Honorable W. Kurt Miller,  Town Hall, 1 1st Street,       Feb. 16, 2021........       090088
 Docket No.: B-2076).              01-0712P).            First Selectman, Town of       Seymour, CT 06483.
                                                         Seymour Board of Selectmen,
                                                         1 1st Street, Seymour, CT
                                                         06483.
Florida:
    Bay (FEMA Docket No.: B-      Unincorporated areas  The Honorable Robert Carroll,  Bay County Planning and        Feb. 16, 2021........       120004
     2067).                        of Bay County (19-    Chairman, Bay County Board     Zoning Department, 840 West
                                   04-4735P).            of Commissioners, 840 West     11th Street, Panama City, FL
                                                         11th Street, Panama City, FL   32401.
                                                         32401.
    Hillsborough (FEMA Docket     City of Tampa (20-04- The Honorable Jane Castor,     Planning and Development       Feb. 8, 2021.........       120114
     No.: B-2067).                 0296P).               Mayor, City of Tampa, 306      Department, 1400 North
                                                         East Jackson Street, Tampa,    Boulevard, Tampa, FL 33607.
                                                         FL 33602.
    Hillsborough (FEMA Docket     Unincorporated areas  Ms. Bonnie M. Wise,            Hillsborough County            Feb. 8, 2021.........       120112
     No.: B-2067).                 of Hillsborough       Hillsborough County            Development Services
                                   County (20-04-        Administrator, 601 East        Department, 601 East Kennedy
                                   0296P).               Kennedy Boulevard, Tampa, FL   Boulevard, Tampa, FL 33602.
                                                         33602.
    Lee (FEMA Docket No.: B-      City of Sanibel (20-  The Honorable Kevin Ruane,     Community Services             Nov. 10, 2020........       120402
     2052).                        04-2943P).            Mayor, City of Sanibel, 800    Department, 800 Dunlop Road,
                                                         Dunlop Road, Sanibel, FL       Sanibel, FL 33957.
                                                         33957.
    Manatee (FEMA Docket No.: B-  Unincorporated areas  The Honorable Betsy Benac,     Manatee County Administration  Feb. 16, 2021........       120153
     2076).                        of Manatee County     Chair, Manatee County Board    Building, 1112 Manatee
                                   (20-04-3373P).        of Commissioners, 1112         Avenue West, Bradenton, FL
                                                         Manatee Avenue West,           34205.
                                                         Bradenton, FL 34205.
    Monroe (FEMA Docket No.: B-   City of Marathon (20- The Honorable Steve Cook,      Planning Department, 9805      Feb. 16, 2021........       120681
     2073).                        04-4546P).            Mayor, City of Marathon,       Overseas Highway, Marathon,
                                                         9805 Overseas Highway,         FL 33050.
                                                         Marathon, FL 33050.
    Monroe (FEMA Docket No.: B-   Unincorporated areas  The Honorable Heather          Monroe County Building         Feb. 16, 2021........       125129
     2073).                        of Monroe County      Carruthers, Mayor, Monroe      Department, 2798 Overseas
                                   (20-04-4807P).        County Board of                Highway, Suite 300,
                                                         Commissioners, 500 Whitehead   Marathon, FL 33050.
                                                         Street, Suite 102, Key West,
                                                         FL 33040.
    Orange (FEMA Docket No.: B-   Unincorporated areas  The Honorable Jerry L.         Orange County Planning and     Feb. 12, 2021........       120179
     2067).                        of Orange County      Demings, Mayor, Orange         Development Department, 4200
                                   (20-04-1076P).        County, 201 South Rosalind     South John Young Parkway,
                                                         Avenue, 5th floor, Orlando,    Orlando, FL 32839.
                                                         FL 32801.
    Osceola (FEMA Docket No.: B-  Unincorporated areas  The Honorable Viviana Janer,   Osceola County Building        Feb. 12, 2021........       120189
     2067).                        of Osceola County     Chair, Osceola County Board    Department, 1 Courthouse
                                   (20-04-1076P).        of Commissioners, 1            Square, Suite 1400,
                                                         Courthouse Square, Suite       Kissimmee, FL 34741.
                                                         4700, Kissimmee, FL 34741.

    Palm Beach (FEMA Docket No.:  Village of Royal      The Honorable Fred Pinto,      Village Hall, 1050 Royal Palm  Feb. 9, 2021.........       120225
     B-2073).                      Palm Beach (20-04-    Mayor, Village of Royal Palm   Beach Boulevard, Royal Palm
                                   3502P).               Beach, 1050 Royal Palm Beach   Beach, FL 33411.
                                                         Boulevard, Royal Palm Beach,
                                                         FL 33411.
    Sarasota (FEMA Docket No.: B- Unincorporated areas  The Honorable Michael A.       Sarasota County Planning and   Feb. 11, 2021........       125144
     2073).                        of Sarasota County    Moran, Chairman, Sarasota      Development Services
                                   (20-04-4720P).        County Board of                Department, 1001 Sarasota
                                                         Commissioners, 1660 Ringling   Center Boulevard, Sarasota,
                                                         Boulevard, Sarasota, FL        FL 34240.
                                                         34236.
Georgia:
    Bryan (FEMA Docket No.: B-    Unincorporated areas  The Honorable Carter           Bryan County Department of     Feb. 5, 2021.........       130016
     2073).                        of Bryan County (20-  Infinger, Chairman, Bryan      Community Development, 66
                                   04-2261P).            County Board of                Captain Matthew Freeman
                                                         Commissioners, P.O. Box 430,   Drive, Suite 201, Richmond
                                                         Pembroke, GA 31321.            Hill, GA 31324.
    Douglas (FEMA Docket No.: B-  Unincorporated areas  Ms. Romona Jackson Jones,      Douglas County Engineering     Feb. 16, 2021........       130306
     2073).                        of Douglas County     Chair, Douglas County Board    Division, 8700 Hospital
                                   (20-04-2682P).        of Commissioners, 8700         Drive, 1st Floor,
                                                         Hospital Drive, 3rd Floor,     Douglasville, GA 30134.
                                                         Douglasville, GA 30134.
Maine: Kennebec (FEMA Docket      City of Waterville    Mr. Michael Roy, Manager,      City Hall, 1 Common Street,    Feb. 19, 2021........       230070
 No.: B-2073).                     (20-01-0604P).        City of Waterville, 1 Common   Waterville, ME 04901.
                                                         Street, Waterville, ME
                                                         04901.
North Carolina:
    Johnston (FEMA Docket No.: B- Town of Wilson's      The Honorable Jim Uzzle, Jr.,  Town Hall, 100 Railroad        Feb. 4, 2021.........       370262
     2067).                        Mills (20-04-         Mayor, Town of Wilson's        Street, Wilson's Mills, NC
                                   2016P).               Mills, P.O. Box 448,           27593.
                                                         Wilson's Mills, NC 27593.
    Johnston (FEMA Docket No.: B- Unincorporated areas  The Honorable Chad M.          Johnston County Planning       Feb. 4, 2021.........       370138
     2067).                        of Johnston County    Stewart, Chairman, Johnston    Department, 309 East Market
                                   (20-04-2016P).        County Board of                Street, Smithfield, NC
                                                         Commissioners, P.O. Box 1049   27577.
                                                         Smithfield, NC 27577.
    Orange (FEMA Docket No.: B-   Unincorporated areas  The Honorable Renee Price,     Orange County Planning         Jan. 20, 2021........       370342
     2109).                        of Orange County      Chair, Orange County Board     Department, 131 West
                                   (19-04-6660P).        of Commissioners, P.O. Box     Margaret Lane, Suite 201,
                                                         8181, Hillsborough, NC         Hillsborough, NC, 27278.
                                                         27278.
Pennsylvania: Lackawanna (FEMA    City of Scranton (20- The Honorable Paige G.         Planning Department, 340       Feb. 16, 2021........       420538
 Docket No.: B-2073).              03-0798P).            Cognetti, Mayor, City of       North Washington Avenue,
                                                         Scranton, 340 North            Scranton, PA 18503.
                                                         Washington Avenue, Scranton,
                                                         PA 18503.
Tennessee: Williamson (FEMA       City of Franklin (20- The Honorable Ken Moore,       Engineering Department, 109    Feb. 19, 2021........       470206
 Docket No.: B-2076).              04-2146P).            Mayor, City of Franklin, 109   3rd Avenue South Franklin,
                                                         3rd Avenue South, Suite 103,   TN 37064.
                                                         Franklin, TN 37064.
Texas:
    Atascosa (FEMA Docket No.: B- Unincorporated areas  The Honorable Robert L.        Atascosa County Courthouse, 1  Feb. 4, 2021.........       480014
     2073).                        of Atascosa County    Hurley, Atascosa County        Courthouse Circle Drive,
                                   (20-06-2205P).        Judge, 1 Courthouse Circle     Jourdanton, TX 78026.
                                                         Drive, Suite 206,
                                                         Jourdanton, TX 78026.
    Bell (FEMA Docket No.: B-     City of Temple (20-   The Honorable Tim Davis,       Department of Public Works,    Feb. 16, 2021........       480034
     2067).                        06-2105P).            Mayor, City of Temple, 2       Engineering Division, 3210
                                                         North Main Street, Suite       East Avenue H, Building A,
                                                         103, Temple, TX 76501.         Suite 107, Temple, TX 76501.
    Bexar (FEMA Docket No.: B-    City of San Antonio   The Honorable Ron Nirenberg,   Transportation and Capital     Feb. 16, 2021........       480045
     2100).                        (20-06-1037P).        Mayor, City of San Antonio,    Improvements Department,
                                                         P.O. Box 839966, San           Stormwater Division, 114
                                                         Antonio, TX 78283.             West Commerce, 7th Floor,
                                                                                San Antonio, TX 78205.
    Bexar (FEMA Docket No.: B-    Unincorporated areas  The Honorable Nelson W.        Bexar County Public Works      Feb. 16, 2021........       480035
     2100).                        of Bexar County (20-  Wolff, Bexar County Judge,     Department, 1948 Probandt
                                   06-1037P).            101 West Nueva Street, 10th    Street, San Antonio, TX
                                                         Floor, San Antonio, TX         78214.
                                                         78205.
    Denton (FEMA Docket No.: B-   City of Justin (20-   The Honorable Alan Woodall,    Planning and Zoning            Feb. 16, 2021........       480778
     2073).                        06-1792P).            Mayor, City of Justin, P.O.    Department, 415 North
                                                         Box 129, Justin, TX 76247.     College Avenue, Justin, TX
                                                                                76247.
    Kaufman (FEMA Docket No.: B-  City of Crandall (20- The Honorable Danny Kirbie,    City Hall, 110 South Main      Feb. 19, 2021........       480409
     2073).                        06-2061P).            Mayor, City of Crandall, 110   Street, Crandall, TX 75114.
                                                         South Main Street, Crandall,
                                                         TX 75114.
    Kaufman (FEMA Docket No.: B-  City of Forney (20-   The Honorable Mary Penn,       City Hall, 101 East Main       Feb. 8, 2021.........       480410
     2059).                        06-1624P).            Mayor, City of Forney, P.O.    Street, Forney, TX 75126.
                                                         Box 826, Forney, TX 75126.
    Kaufman (FEMA Docket No.: B-  Unincorporated areas  The Honorable Hal Richards,    Kaufman County Development     Feb. 8, 2021.........       480411
     2059).                        of Kaufman County     Kaufman County Judge, 100      Services Department, 106
                                   (20-06-1624P).        West Mulberry Street,          West Grove Street, Kaufman,
                                                         Kaufman, TX 75142.             TX 75142.
    Kaufman (FEMA Docket No.: B-  Unincorporated areas  The Honorable Hal Richards,    Kaufman County Development     Feb. 19, 2021........       480411
     2073).                        of Kaufman County     Kaufman County Judge, 100      Services Department, 106
                                   (20-06-2061P).        West Mulberry Street,          West Grove Street, Kaufman,
                                                         Kaufman, TX 75142.             TX 75142.
    Randall (FEMA Docket No.: B-  Unincorporated areas  The Honorable Ernie            Randall County Road and        Feb. 19, 2021........       480532
     2073).                        of Randall County     Houdashell, Randall County     Bridge Department, 301 West
                                   (20-06-2051P).        Judge, 501 16th Street,        Highway 60, Canyon, TX
                                                         Suite 303, Canyon, TX 79015.   79015.

    Tarrant (FEMA Docket No.: B-  City of Benbrook (20- The Honorable Jerry Dittrich,  City Hall, 911 Winscott Road,  Feb. 16, 2021........       480586
     2073).                        06-0768P).            Mayor, City of Benbrook, 911   Benbrook, TX 76126.
                                                         Winscott Road, Benbrook, TX
                                                         76126.
    Tarrant (FEMA Docket No.: B-  City of Fort Worth    The Honorable Betsy Price,     Transportation and Public      Feb. 16, 2021........       480596
     2073).                        (20-06-0768P).        Mayor, City of Fort Worth,     Works Department,
                                                         200 Texas Street, Fort         Engineering Vault, 200 Texas
                                                         Worth, TX 76102.               Street, Fort Worth, TX
                                                                                76102.
Virginia:
    Goochland (FEMA Docket No.:   Unincorporated areas  The Honorable Susan F.         Goochland County               Feb. 8, 2021.........       510072
     B-2076).                      of Goochland County   Lascolette, Chair, Goochland   Environmental and
                                   (20-03-0873P).        County Board of Supervisors,   Development Review
                                                         P.O. Box 10, Goochland, VA     Department, 1800 Sandy Hook
                                                         23063.                         Road, Goochland, VA 23063.
    Henrico (FEMA Docket No.: B-  Unincorporated areas  Mr. John A. Vithoulkas,        Henrico County Department of   Feb. 8, 2021.........       510077
     2076).                        of Henrico County     Manager, Henrico County,       Public Works, 4305 East
                                   (20-03-0873P).        P.O. Box 90775, Henrico, VA    Parham Road, Henrico, VA
                                                         23273.                         23228.
    Loudoun (FEMA Docket No.: B-  Unincorporated areas  Mr. Tim Hemstreet, Loudoun     Loudoun County Office of       Feb. 16, 2021........       510090
     2076).                        of Loudoun County     County Administrator, P.O.     Mapping and Geographic
                                   (20-03-1100P).        Box 7000, Leesburg, VA         Information, 1 Harrison
                                                         20177.                         Street, Southeast, Leesburg,
                                                                                VA 20175.
    Prince William (FEMA Docket   City of Manassas (20- The Honorable Harry J.         Public Works Department, 8500  Feb. 4, 2021.........       510122
     No.: B-2076).                 03-0768P).            Parrish, II, Mayor, City of    Public Works Drive,
                                                         Manassas, 9027 Center          Manassas, VA 20110.
                                                         Street, Manassas, VA 20110.
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[FR Doc. 2021-05222 Filed 3-11-21; 8:45 am]
BILLING CODE 9110-12-P


[Federal Register Volume 87, Number 21 (Tuesday, February 1, 2022)]
[Notices]
[Pages 5552-5555]
[FR Doc No: 2022-01969]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-94071; File No. SR-NASDAQ-2022-004]

Self-Regulatory Organizations; The Nasdaq Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Amend the Exchange's Listing Fees at Rule 5910(b) To Adopt a $15,000
All-Inclusive Annual Listing Fee Applicable to a Dually-Listed Company

January 26, 2022.
    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 13, 2022, The Nasdaq Stock Market LLC (``Nasdaq'' or
``Exchange'') filed with the Securities and Exchange Commission
(``SEC'' or ``Commission'') the proposed rule change as described in
Items I, II, and III, below, which Items have been prepared by the
Exchange. 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.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to amend the Exchange's listing fees at Rule
5910(b) to insert language concerning a $15,000 annual listing fee
applicable to a Dually Listed Company, which was erroneously removed,
as described further below.
    The text of the proposed rule change is detailed below: Proposed
new language is italicized and proposed deletions are in brackets.
* * * * *

The Nasdaq Stock Market Rules

* * * * *

5910. The Nasdaq Global Market (including the Nasdaq Global Select
Market)

    (a) No change.
    (b) All-Inclusive Annual Listing Fee
    (1) No change.
    (2)(A)-(F) No change.
    (G) Dually-Listed Companies, whose securities are listed on the New
York Stock Exchange and designated as national market securities
pursuant to the plan governing New York Stock Exchange securities at
the time such securities are approved for listing on Nasdaq: $15,000.
Such fee shall be assessed on the first anniversary of the Company's
listing on Nasdaq, and annually thereafter on the anniversary of the
Company's listing. If an issuer of such securities ceases to maintain
its listing on the New York Stock Exchange that portion of the fee
described in this section attributable to the months following the date
of removal shall not be refunded, except if the securities remain
listed on the Nasdaq Global or Global Select Markets and are designated
as national market securities pursuant to the plan governing Nasdaq
securities such fee shall be applied to The Nasdaq Global Market All-
Inclusive Annual Listing Fee due for that calendar year.
    (3) No change.
* * * * *
    The text of the proposed rule change is available on the Exchange's
website at https://listingcenter.nasdaq.com/rulebook/nasdaq/rules, at
the principal office of the Exchange, and at the Commission's Public
Reference Room.

II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, the Exchange included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. The Exchange has prepared summaries, set forth in
sections A, B, and C below, of the most significant aspects of such
statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The purpose of the proposed rule change is to insert language
concerning the relevant all-inclusive annual fee applicable to the
listing of securities that are listed on the New York Stock Exchange
and designated as national market securities pursuant to the plan
governing New York Stock Exchange securities at the time such
securities are approved for listing on the Nasdaq Global or Global
Select Markets, and maintains such listing and designation after it
lists such securities on Nasdaq (``Dually-Listed Securities'').\3\ Such

language was erroneously deleted in a previous filing.\4\
---------------------------------------------------------------------------

    \3\ See Rules 5005(a)(11) (defining a Dually-Listed Security as
a security, listed on The Nasdaq Global Market or The Nasdaq Global
Select Market, which is also listed on the New York Stock Exchange).
As explained below, former Rule 5910(c)(5) described and set forth
the fees applicable to a Dually Listed Company but referenced only
The Nasdaq Global Market. Nasdaq proposes to clarify that a Dually
Listed Company may list on the Nasdaq Global or Global Select
Markets.
    \4\ Securities Exchange Act Release No. 84634 (November 20,
2018), 83 FR 60522 (November 26, 2018) (SR-NASDAQ-2018-092) (The
``Annual Fee Transition Filing'').
---------------------------------------------------------------------------

    In 2014, Nasdaq adopted an all-inclusive annual listing fee
schedule to simplify, clarify and enhance transparency around the
annual fee to which listed companies are subject.\5\ The new annual fee
schedule became operative on January 1, 2015, and applied to all
companies listed after that date. Effective January 1, 2018, all
Nasdaq-listed companies became subject to the all-inclusive annual fee
schedule and the standard annual fee schedule ceased to have
applicability or effect for such companies.
---------------------------------------------------------------------------

    \5\ Securities Exchange Act Release No. 73647 (November 19,
2014), 79 FR 70232 (November 25, 2014) (SR-NASDAQ-2014-87).
---------------------------------------------------------------------------

    In 2018, Nasdaq eliminated expired and obsolete provisions in
connection with Nasdaq's completed transition to the all-inclusive
annual fee program.\6\ In the Annual Fee Transition Filing Nasdaq
deleted the language in former Rules 5910(c)-(f) and 5920(c)-(e) that
described and set forth the standard annual fee. However, former Rules
5910(c)(5) described and set forth the fees applicable to a company (i)
whose securities are listed on the New York Stock Exchange and
designated as national market securities pursuant to the plan governing
New York Stock Exchange securities at the time such securities are
approved for listing on Nasdaq, and (ii) that maintains such listing
and designation after it lists such securities on Nasdaq (a ``Dually
Listed Company''). The rule language further stated that if an issuer
of such securities ceases to maintain such listing and designation and
the securities are instead designated under the Rule 5400 Series, that
portion of the fee described in this section attributable to the months
following the date of removal shall not be refunded, except such fee
shall be applied to annual listing fee due for the calendar year of the
transfer. In lieu of the annual fees applicable to a Nasdaq-listed
company, a Dually Listed Company annual fee was set at $15,000 per
year. Such annual fee was set to be assessed on the first anniversary
of the Company's listing on Nasdaq.\7\ While not identical to the
current all-inclusive annual listing fee schedule, this provision was
similar in that companies also were not subject to fees for listing
additional shares or for substitution listing events.\8\ The companies
were still subject to fees in relation to request for written
interpretation, compliance plan review and record-keeping. The
foregoing fees are included in the all-inclusive annual fees and Dually
Listed Companies will pay only a single annual fee to Nasdaq, which
includes all the ordinary costs of listing for the year.\9\
---------------------------------------------------------------------------

    \6\ The Annual Fee Transition Filing, supra note 4.
    \7\ Former Rule 5920(c)(8) also included similar language about
the fee for a Dually Listed Company on the Nasdaq Capital Market.
However, under Rule 5005(a)(11) and IM-5220 companies are not (and
were not previously) permitted to dually list on the Nasdaq Capital
Market. As such this Capital Market fee was inapplicable to any
companies and its deletion was appropriate.
    \8\ See former Rule 5910(b)(5) and 5910(f).
    \9\ See former Rules 5602, 5810(c) and 5910(e). In Nasdaq's
experience, Dually Listed Companies are, typically, established
companies that are used to being a public company and familiar with
the exchanges' requirements thus rarely having a need to pay for
written interpretation, compliance plan review and record-keeping
fees.
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    Nasdaq believes it is appropriate to maintain the $15,000 fee on an
all-inclusive basis because it is not the primary listing venue for
such companies. The Dual Listing program was originally designed, and
continues to operate, to encourage NYSE-listed companies to compare
services provided by Nasdaq and NYSE without creating undue burden by
assessing duplicated fees. As required by Listing Rules, Nasdaq
monitors Dually Listed Companies for compliance with the Nasdaq listing
standards. In that regard, based on Nasdaq's experience, Dually Listed
Companies require less time and effort to review and to ensure
compliance because they seldom involve time-consuming regulatory
issues. This is, in part, due to the fact that NYSE listed companies
are already subject to the ongoing scheme of regulation by the NYSE
that is fairly similar to the Nasdaq's regulation regime.
    Notwithstanding the similarities in regulatory regimes, the Dual
Listing program increases the regulatory burden on a listed company, in
part, by subjecting it to both the NYSE's and Nasdaq's corporate
governance regulations. As a result, the program targets bigger and
better established companies that are used to being a public company
and can afford a moderate increase in the regulatory burden. Nasdaq
believes that these larger companies will pay higher listing fees if
and when they become listed exclusively on Nasdaq and become subject to
the fee schedule applicable to Nasdaq listed companies thereby making
their listing more valuable to Nasdaq. Nasdaq also believes that
inducing these companies to compare services provided by Nasdaq and the
NYSE, may encourage these companies to list exclusively on Nasdaq and
to provide its listing market broader benefits from attracting the
larger, better known companies that are listed on the NYSE.
Accordingly, given the competitive nature of the dual listing program
and the potential benefits it may bring to Nasdaq and its listing
market, Nasdaq believes it is reasonable to set the all-inclusive
annual fee for Dually Listed Companies at $15,000.
    Absent this provision, a Dually Listed Company would be subject to
the typical all-inclusive annual listing fee, which is higher than
$15,000.\10\ Nasdaq did not intend to subject the Dually Listed
Companies to the all-inclusive annual listing fee applicable to other
companies. Accordingly, Nasdaq now proposes to insert language, similar
to the language covering annual fees paid by Dually Listed Companies
that was erroneously removed, by adding proposed Rule 5910(b)(2)(G)
setting the all-inclusive annual fee for Dually Listed Companies, which
now covers fees for written interpretation, compliance plan review and
record-keeping fees, previously not covered as explained above, at
$15,000.
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    \10\ Under Rule 5910(b)(2)(A) the minimum all-inclusive annual
fee for most companies is $48,000.
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2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\11\ in general, and furthers the objectives of
Sections 6(b)(4) and 6(b)(5) of the Act,\12\ in particular, in that it
provides for the equitable allocation of reasonable dues, fees and
other charges among members and issuers and other persons using any
facility, will promote just and equitable principles of trade, and will
remove impediments to and perfect the mechanism of a free and open
market and a national market system, and is not designed to permit
unfair discrimination between customers, issuers, brokers, or dealers.
The proposed rule will insert language concerning the $15,000 annual
listing fee applicable to a Dually Listed Company, which Nasdaq
erroneously deleted, while also making this fee an all-inclusive fee,
which now covers fees for written interpretation, compliance plan
review and record-keeping fees, previously not covered as explained
above. The Commission previously approved the $15,000 annual fee
applicable to a Dually Listed Company, and the manner in which it is
assessed,

and found it consistent with requirements of the Act that rules provide
for equitable allocation of reasonable fees and not be designed to
permit unfair discrimination between issuers.\13\ There has been no
changes to the objectives of the Dual Listing program since Nasdaq
adopted the all-inclusive annual listing fee schedule for companies,
and the NYSE annual fee schedule has been changing to accommodate the
shifts in the competitive landscape.\14\ Nasdaq believes that, to
maintain consistency with the original objective of the Dual Listing
program, the annual listing fee assessed towards Dually Listed
Companies, noting the fact that they are paying the fees to the NYSE,
should remain the same as previously adopted, although now covering
fees for written interpretation, compliance plan review and record-
keeping fees, previously not covered as explained above. The erroneous
removal of language describing the fee, resulting in the need for this
rule filing to reinsert it, does not change that conclusion.\15\
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    \11\ 15 U.S.C. 78f(b).
    \12\ 15 U.S.C. 78f(b)(4) and (5).
    \13\ Securities Exchange Act Release No. 51005 (January 10,
2005), 70 FR 2917 (January 18, 2005) (SR-NASD-2004-142, approving
the predecessor NASD rule), 70 FR 2917 (January 18, 2005) (the
``Approval Order''). This finding was under Section 15A(b)(5) and
(6) of the Act, which applied to Nasdaq at the time as a facility of
the NASD.
    \14\ See Securities Exchange Act Release No. 93862 (December 22,
2021), 86 FR 74198 (December 29, 2021) (SR-NYSE-2021-76).
    \15\ Although the all-inclusive annual fee for Dually Listed
Companies will now include some additional services for the same
$15,000 annual fee, Nasdaq notes that Dually Listed Companies,
typically, do not use these services. See footnote 9 above.
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    Nasdaq believes it is appropriate and not unfairly discriminatory
to maintain the $15,000 fee on an all-inclusive basis because Nasdaq is
not the primary listing venue for such companies. The Dual Listing
program is designed to encourage NYSE-listed companies to compare
services provided by Nasdaq and the NYSE without creating undue burden
by assessing duplicated fees. Based on Nasdaq's experience, Dually
Listed Companies require less time and effort to review and to ensure
compliance because they seldom involve time-consuming regulatory
issues. This is, in part, due to the fact that NYSE listed companies
already are, and, typically, have been subject to the ongoing scheme of
regulation by the NYSE that is fairly similar to the Nasdaq's
regulation regime.
    Notwithstanding the similarities in regulatory regimes, the Dual
Listing program increases the regulatory burden on a listed company, in
part, by subjecting it to both NYSE and Nasdaq corporate governance
regulations. As a result, the program targets bigger and better
established companies that are used to being a public company and can
afford the increased regulatory burden. Nasdaq believes that these
larger companies will pay higher listing fees if and when they become
listed exclusively on Nasdaq and become subject to the fee schedule
applicable to Nasdaq listed companies thereby making their listing more
valuable to Nasdaq. Nasdaq also believes that inducing these companies
to compare services provided by Nasdaq and the NYSE, may encourage
these companies to list exclusively on Nasdaq and to provide its
listing market broader benefits from attracting the larger, better
known companies that are listed on the NYSE.
    Finally, Nasdaq believes that the proposal does not result in
unfair discrimination by offering its program only to companies already
listed on the NYSE, and not on other exchanges, because Nasdaq believes
attracting the NYSE-listed companies will bring greater future value to
Nasdaq.

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 but instead will reinstate a
portion of the fee schedule that was erroneously deleted.
    Nasdaq's dual listing program is designed to allow issuers to
undertake focused comparison of the services and market quality offered
by Nasdaq and NYSE, with the explicit goal to encourage eventual switch
of companies that dual list. Without a lower annual fee, an NYSE-listed
company would be unlikely to choose to dually list its securities,
either initially or on an ongoing basis. Accordingly, reinstituting the
proposed fee would promote competition among listing markets.\16\
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    \16\ Nasdaq believes that national securities exchanges other
than the NYSE do not have established listing programs that attract
marquee operating companies and therefore the dually listed program
will not have any competitive impact on such exchanges because the
goal of the program is to allow an established exchange-listed
company to compare services provided by Nasdaq with those it already
receives.
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    The lower fees on Dually Listed Companies also will not burden
competition between Dually Listed Companies and other companies listing
on Nasdaq. The lower fee reflects that Dually Listed Companies are also
subject to ongoing fees to the NYSE. In the Approval Order, the
Commission found the fees applicable to Dually Listed Companies
consistent with the requirements of the Act, and noted that ``[w]ithout
this program, it is unlikely that an issuer would choose to dually list
its securities'' and expressed its believe that ``competition among
listing markets has the potential to benefit the public, issuers, and
the listing markets.''

C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others

    No written comments were either solicited or 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)(ii) of the Act.\17\
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    \17\ 15 U.S.C. 78s(b)(3)(A)(ii).
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    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: (i)
Necessary or appropriate in the public interest; (ii) for the
protection of investors; or (iii) otherwise in furtherance of the
purposes of the Act. If the Commission takes such action, the
Commission shall institute proceedings to determine whether the
proposed rule should be approved or disapproved.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include
File Number SR-NASDAQ-2022-004 on the subject line.

Paper Comments

     Send paper comments in triplicate to Secretary, Securities
and Exchange Commission, 100 F Street NE, Washington, DC 20549-1090.

All submissions should refer to File Number SR-NASDAQ-2022-004. 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 website (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 website
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 the
Exchange. All comments received will be posted without change. Persons
submitting comments are cautioned that we do not redact or edit
personal identifying information from comment submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-NASDAQ-2022-004, and should
be submitted on or before February 22, 2022.

    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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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-01969 Filed 1-31-22; 8:45 am]
BILLING CODE 8011-01-P