[Federal Register Volume 84, Number 143 (Thursday, July 25, 2019)]
[Notices]
[Pages 35861-35862]
[FR Doc No: 2019-15761]

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ENVIRONMENTAL PROTECTION AGENCY

[FRL-9997-05-ORD]

Availability of Synthetic Turf Field Recycled Tire Crumb Rubber
Research Under the Federal Research Action Plan Final Report: Part 1--
Tire Crumb Rubber Characterization

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice of release of action plan part 1 final report.

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SUMMARY: The U.S. Environmental Protection Agency (EPA) is announcing
the release of the Synthetic Turf Field Recycled Tire Crumb Rubber
Research Under the Federal Research Action Plan Final Report: Part 1--
Tire Crumb Rubber Characterization. In February 2016, EPA, Centers for
Disease Control and Prevention (CDC) and the Agency for Toxic
Substances and Disease Registry (ATSDR), and Consumer Product Safety
Commission (CPSC) launched the Federal Research Action Plan (FRAP) on
Recycled Tire Crumb Used on Playing Fields and Playgrounds. The goal of
this research effort under the FRAP is to characterize potential human
exposures to the substances associated with recycled tire crumb rubber
used on synthetic turf fields. Playgrounds are addressed separately by
CPSC.
    Results of the effort are being reported in two parts. Part 1 (this
document) communicates the research objectives, methods, results and
findings for the tire crumb rubber characterization research (i.e.,
what is in the material). Part 2, to be released at a later date, will
document efforts to characterize potential human exposures to the
chemicals found in the tire crumb rubber material while using synthetic
turf fields, and will include information from a biomonitoring study
initiated by CDC/ATSDR. The timeline and information about the Part 2
report will be posted to the agency's website as it becomes available.
    Neither Part 1 nor Part 2 of this study, separately or combined,
will constitute an assessment of the risks associated with playing on
synthetic turf fields

with recycled tire crumb rubber infill. The results of the research
described in both Part 1 and Part 2 of this study should inform future
risk assessments.

DATES: This announcement is effective July 25, 2019.

ADDRESSES: The Synthetic Turf Field Recycled Tire Crumb Rubber Research
Under the Federal Research Action Plan Final Report: Part 1--Tire Crumb
Rubber Characterization, will be available via the internet at https://www.epa.gov/tirecrumb.

FOR FURTHER INFORMATION CONTACT: For information on the Synthetic Turf
Field Recycled Tire Crumb Rubber Research Under the Federal Research
Action Plan Final Report: Part 1--Tire Crumb Rubber Characterization,
contact Kelly Widener, ORD; telephone:<PHONE_NUMBER>; or email:
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

Background Information on the Synthetic Turf Field Recycled Tire Crumb
Rubber Research Under the Federal Research Action Plan Final Report:
Part 1--Tire Crumb Rubber Characterization

    According to the Synthetic Turf Council, there are currently 12,000
to 13,000 synthetic turf fields in the United States, with 1,200 to
1,500 new installations each year. Fields often use recycled tire
rubber as infill material, sometimes mixed with sand. Fields are at
municipal and county parks; schools, colleges, and universities;
professional sports stadiums and practice fields; and military
installations. It is estimated that millions of people use or work at
these fields each year.
    Parents, athletes, schools, and communities have raised concerns
about potential health effects. To help address these concerns, the
Centers for Disease Control and Prevention/Agency for Toxic Substances
and Disease Registry (CDC/ATSDR) and the U.S. Environmental Protection
Agency (EPA), in collaboration with the Consumer Product Safety
Commission (CPSC), launched a multi-agency research effort in February
2016.
    This multi-agency research effort, known as the Federal Research
Action Plan (FRAP) on Recycled Tire Crumb Used on Playing Fields and
Playground. The specific FRAP research covered in this report is
focused on assessing potential human exposure, which includes
conducting research activities to characterize the chemicals associated
with recycled tire crumb rubber and to identify the ways in which
people may be exposed to those chemicals based on their activities on
synthetic turf fields. Also, the research includes characterizing
emissions and bioaccessibility to differentiate what is present in the
recycled tire crumb rubber from what people may actually be exposed to
from recycled tire crumb rubber.
    This research was designed to evaluate exposure. Results from this
study can be used by others to inform potential risk. Prior to the FRAP
being initiated, most studies examining these potential risks have been
considered inconclusive or otherwise incomplete. Based upon available
literature, this research effort represents the largest tire crumb
rubber study conducted in the United States. The information and
results from the effort will fill specific data gaps about the
potential for human exposure to chemical constituents associated with
recycled tire crumb rubber used in synthetic turf fields. The research
is not intended to be a risk assessment.
    The FRAP includes: (1) A Literature Review/Gap Analysis; (2) Tire
Crumb Characterization research; (3) Exposure Characterization
research; and (4) A Playground Study. A status report was previously
released describing activities of the FRAP as of December 2016 (EPA/
600/R-16/364, available at: https://www.epa.gov/tirecrumb). The status
report included a summary of stakeholder outreach, an overview of the
tire crumb rubber manufacturing industry, progress on the research
activities, and the final peer-reviewed literature review/gaps analysis
(LRGA) white paper.
    This Synthetic Turf Field Tire Crumb Rubber Research Under the
Federal Research Action Plan Final Report: Part 1--Tire Crumb Rubber
Characterization summarizes the findings from the Tire Crumb
Characterization research effort. While the research under the FRAP is
not a risk assessment, the results of the research described in this
and future reports will advance the understanding of exposure to inform
the risk assessment process. The Part 1 report currently being posted
has been through external peer review. A summary of these comments is
included in Appendix V. A response-to-peer review comments document
will be released along with Part 2.
    More information is available at https://www.epa.gov/tirecrumb
concerning the timeline of the report. Feedback about the study and
report can be sent to<EMAIL_ADDRESS>Information collected
as part of the Exposure Characterization research under the FRAP (Part
2) will be released at a later date. Part 2 will include information
from a biomonitoring study initiated by CDC/ATSDR to investigate
potential exposure to constituents in tire crumb rubber infill. The
timeline and information about Part 2 will be posted to the agency's
website as it becomes available. CPSC is also conducting the work on
playgrounds and results from that effort will be reported separately.

    Dated: July 8, 2019.
Timothy Watkins,
Director, National Exposure Research Laboratory.
[FR Doc. 2019-15761 Filed 7-24-19; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register Volume 78, Number 87 (Monday, May 6, 2013)]
[Notices]
[Pages 26417-26419]
[FR Doc No: 2013-10668]

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DEPARTMENT OF TRANSPORTATION

Federal Motor Carrier Safety Administration

[Docket No. FMCSA-2013-0122]

Qualification of Drivers; Application for Exemptions; Hearing

AGENCY: Federal Motor Carrier Safety Administration (FMCSA), DOT.

ACTION: Notice of applications for exemptions; request for comments.

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SUMMARY: FMCSA announces that 16 individuals have applied for a medical
exemption from the hearing requirement in the Federal Motor Carrier
Safety Regulations (FMCSRs). In accordance with the statutory
requirements concerning applications for exemptions, FMCSA requests
public comments on these requests. The statute and implementing
regulations concerning exemptions require that exemptions must provide
an equivalent or greater level of safety than if they were not granted.
If the Agency determines the exemptions would satisfy the statutory
requirements and decides to grant theses requests after reviewing the
public comments submitted in response

to this notice, the exemptions would enable 16 individuals to operate
CMVs in interstate commerce.

DATES: Comments must be received on or before June 5, 2013.

ADDRESSES: You may submit comments bearing the Federal Docket
Management System (FDMS) Docket No. FMCSA-2013-0122] using any of the
following methods:
     Federal eRulemaking Portal: Go to http://www.regulations.gov. Follow the on-line instructions for submitting
comments.
     Mail: Docket Management Facility; U.S. Department of
Transportation, 1200 New Jersey Avenue SE., West Building Ground Floor,
Room W12-140, Washington, DC 20590-0001.
     Hand Delivery: West Building Ground Floor, Room W12-140,
1200 New Jersey Avenue SE., Washington, DC, between 9 a.m. and 5 p.m.,
ET, Monday through Friday, except Federal Holidays.
     Fax: 1-202-493-2251.
    Instructions: Each submission must include the Agency name and the
docket numbers for this notice. Note that all comments received will be
posted without change to http://www.regulations.gov, including any
personal information provided. Please see the Privacy Act heading below
for further information.
    Docket: For access to the docket to read background documents or
comments, go to http://www.regulations.gov at any time or Room W12-140
on the ground level of the West Building, 1200 New Jersey Avenue SE.,
Washington, DC, between 9 a.m. and 5 p.m., ET, Monday through Friday,
except Federal holidays. The FDMS is available 24 hours each day, 365
days each year. If you want acknowledgment that we received your
comments, please include a self-addressed, stamped envelope or postcard
or print the acknowledgement page that appears after submitting
comments on-line.
    Privacy Act: Anyone may search the electronic form of all comments
received into any of our dockets by the name of the individual
submitting the comment (or of the person signing the comment, if
submitted on behalf of an association, business, labor union, etc.).
You may review DOT's Privacy Act Statement for the FDMS published in
the Federal Register on January 17, 2008 (73 FR 3316), or you may visit
http://edocket.access.gpo.gov/2008/pdf/E8-785.pdf.

FOR FURTHER INFORMATION CONTACT: Elaine M. Papp, Chief Medical
Programs,<PHONE_NUMBER><EMAIL_ADDRESS>FMCSA, Department of
Transportation, 1200 New Jersey Avenue SE., Room W64-224, Washington,
DC 20590-0001. Office hours are from 8:30 a.m. to 5 p.m., Monday
through Friday, except Federal holidays.

SUPPLEMENTARY INFORMATION:

Background

    The Federal Motor Carrier Safety Administration has authority to
grant exemptions from many of the Federal Motor Carrier Safety
Regulations (FMCSRs) under 49 U.S.C. 31315 and 31136(e), as amended by
Section 4007 of the Transportation Equity Act for the 21st Century
(TEA- 21) (Pub. L. 105-178, June 9, 1998, 112 Stat. 107, 401). FMCSA
has published in 49 CFR part 381, subpart C final rules implementing
the statutory changes in its exemption procedures made by section 4007,
69 FR 51589 (August 20, 2004).\1\ Under the rules in part 381, subpart
C, FMCSA must publish a notice of each exemption request in the Federal
Register. The Agency must provide the public with an opportunity to
inspect the information relevant to the application, including any
safety analyses that have been conducted and any research reports,
technical papers and other publications referenced in the application.
The Agency must also provide an opportunity to submit public comment on
the applications for exemption.
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    \1\ This action adopted as final rules the interim final rules
issued by FMCSA's predecessor in 1998 (63 FR 67600 (Dec. 8, 2008)),
and adopted by FMCSA in 2001 (66 FR 49867 (Oct. 1, 2001)).
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    The Agency reviews the safety analyses and the public comments and
determines whether granting the exemption would likely achieve a level
of safety equivalent to or greater than the level that would be
achieved without the exemption. The decision of the Agency must be
published in the Federal Register. If the Agency denies the request, it
must state the reason for doing so. If the decision is to grant the
exemption, the notice must specify the person or class of persons
receiving the exemption and the regulatory provision or provisions from
which an exemption is granted. The notice must also specify the
effective period of the exemption (up to 2 years) and explain the terms
and conditions of the exemption. The exemption may be renewed.
    The current provisions of the FMCSRs concerning hearing state that
a person is physically qualified to drive a CMV if that person

First perceives a forced whispered voice in the better ear at not
less than 5 feet with or without the use of a hearing aid or, if
tested by use of an audiometric device, does not have an average
hearing loss in the better ear greater than 40 decibels at 500 Hz,
1,000 Hz, and 2,000 Hz with or without a hearing aid when the
audiometric device is calibrated to American National Standard
(formerly ASA Standard) Z24.5--1951.

49 CFR 391.41(b)(11). This standard was adopted in 1970, with a
revision in 1971 to allow drivers to be qualified under this standard
while wearing a hearing aid, 35 FR 6458, 6463 (April 22, 1970) and 36
FR 12857 (July 3, 1971).
    FMCSA also issues instructions for completing the medical
examination report and includes advisory criteria on the report itself
to provide guidance for medical examiners in applying the hearing
standard. See 49 CFR 391.43(f). The current advisory criteria for the
hearing standard include a reference to a report entitled ``Hearing
Disorders and Commercial Motor Vehicle Drivers'' prepared for the
Federal Highway Administration, FMCSA's predecessor, in 1993.\2\
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    \2\ This report is available on the FMCSA Web site at http://www.fmcsa.dot.gov/facts-research/research-technology/publications/medreport_archives.htm.
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FMCSA Requests Comments on the Exemption Applications

    FMCSA requests comments from all interested parties on whether a
driver who cannot meet the hearing standard should be permitted to
operate a CMV in interstate commerce. Further, the Agency asks for
comments on whether a driver who cannot meet the hearing standard
should be limited to operating only certain types of vehicles in
interstate commerce, for example, vehicles without air brakes. The
statute and implementing regulations concerning exemptions require that
the Agency request public comments on all applications for exemptions.
The Agency is also required to make a determination that an exemption
would likely achieve a level of safety that is equivalent to, or
greater than, the level that would be achieved absent such exemption
before granting any such requests. 49 U.S.C.

Information on Individual Applicants

Andrew Alcozer

    Mr. Alcozer holds a driver's license from Illinois. He would like
to drive a CMV in interstate commerce, if he is granted an exemption.

Shayne Bumbalough

    Mr. Bumbalough holds a driver's license from Washington. He would
like to drive a CMV in interstate commerce, if he is granted an
exemption.

Barry Carpenter

    Mr. Carpenter holds a driver's license from South Dakota. He would
like to drive a CMV in interstate commerce, if he is granted an
exemption.

Charles Cofield

    Mr. Cofield holds a driver's license from Mississippi. He would
like to drive an 18-wheeler in interstate commerce, if he is granted an
exemption.

Chase Cook

    Mr. Cook holds a driver's license from Virginia. He would like to
drive a CMV in interstate commerce, if he is granted an exemption.

Jerry Ferguson

    Mr. Ferguson holds a class A Commercial driver's license (CDL) from
Texas. He would like to drive a CMV in interstate commerce, if he is
granted an exemption.

Michael Fuller

    Mr. Fuller holds a driver's license from North Carolina. He would
like to drive a semi-truck in interstate commerce, if he is granted an
exemption.

Anthony Gray

    Mr. Gray holds a class A Commercial driver's license (CDL) from
Kentucky. He would like to drive a CMV in interstate commerce, if he is
granted an exemption.

Kyle Hornung

    Mr. Hornung holds a driver's license from Wisconsin. He would like
to drive a CMV in interstate commerce, if he is granted an exemption.

Valerie Johnson

    Ms. Johnson holds a class B Commercial driver's license (CDL) from
California. She would like to drive a CMV in interstate commerce, if
she is granted an exemption.

Bryan Macfarlane

    Mr. Macfarlane holds a driver's license from Vermont. He would like
to drive a semi-truck in interstate commerce, if he is granted an
exemption.

Robert Munson

    Mr. Munson holds a driver's license from New Jersey. He would like
to drive a CMV with air brakes in interstate commerce, if he is granted
an exemption.

Edwin Oakes, II

    Mr. Oakes holds a driver's license from New York. He would like to
drive a CMV in interstate commerce, if he is granted an exemption.

Thomas Prickett

    Mr. Prickett holds a driver's license from Minnesota. He would like
to drive a CMV in interstate commerce, if he is granted an exemption.

James Schubin

    Mr. Schubin holds a class A Commercial driver's license (CDL) from
California. He would like to drive a CMV in interstate commerce, if he
is granted an exemption.

Russell L. Smith

    Mr. Smith holds a driver's license from Ohio. He would like to
drive a CMV in interstate commerce, if he is granted an exemption.

Request for Comments

    In accordance with 49 U.S.C. 31136(e) and 31315(b)(4), FMCSA
requests public comment from all interested persons on the exemption
petitions described in this notice. The Agency will consider all
comments received before the close of business June 5, 2013. Comments
will be available for examination in the docket at the location listed
under the ADDRESSES section of this notice. The Agency will file
comments received after the comment closing date in the public docket,
and will consider them to the extent practicable. In addition to late
comments, FMCSA will also continue to file, in the public docket,
relevant information that becomes available after the comment closing
date. Interested persons should monitor the public docket for new
material.

     Issued on: April 29, 2013.
 Larry W. Minor,
 Associate Administrator for Policy.
[FR Doc. 2013-10668 Filed 5-3-13; 8:45 am]
BILLING CODE 4910-EX-P


[Federal Register: April 10, 2008 (Volume 73, Number 70)]
[Notices]
[Page 19540-19542]
[DOCID:fr10ap08-103]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-57616; File No. SR-NASDAQ-2008-017]

Self-Regulatory Organizations; the NASDAQ Stock Market LLC;
Notice of Filing of Proposed Rule Change To Clarify the Listing of
Additional Shares Notification Process

April 3, 2008.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on March 6, 2008, The NASDAQ Stock Market LLC (``Nasdaq'') 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 Nasdaq. 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

    Nasdaq proposes to clarify the process concerning notifications of
the listing of additional shares.\3\ The text of the proposed rule
change is below. Proposed new language is in italics; proposed
deletions are in brackets.\4\
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    \3\ The Commission notes that as part of the proposed rule
filing, the Exchange submitted a revised Listing of Additional
Shares Notification Form conforming the instructions on the Form to
the proposed rule changes herein.
    \4\ Changes are marked to the rule text that appears in the
electronic manual of Nasdaq found at http://www.complinet.com/
nasdaq.
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* * * * *
4310. Listing Requirements for Domestic and Canadian Securities
    To qualify for listing in Nasdaq, a security of a domestic or
Canadian issuer shall satisfy all applicable requirements contained in
paragraphs (a), (b), and (c) hereof. Issuers that meet these
requirements, but that are not listed on the Nasdaq Global Market, are
listed on the Nasdaq Capital Market.
    (a)-(b) No change.
    (c) In addition to the requirements contained in paragraph (a) and
(b) above, and unless otherwise indicated, a security shall satisfy the
following criteria for listing on Nasdaq:
    (1)-(16) No change.
    (17) [The issuer shall be] A listed company is required to notify
Nasdaq [on the appropriate form no later than] at least 15 calendar
days prior to:

    (A)(i) establishing or materially amending a stock option plan,
purchase plan or other equity compensation arrangement pursuant to
which stock may be acquired by officers, directors, employees, or
consultants without shareholder approval.
    (ii) Nasdaq recognizes that when an issuer makes an equity grant to
induce an individual to accept employment, as permitted by the
exception contained in Rule 4350(i)(1)(A)(iv), it may not be practical
to provide the advance notice otherwise required by this Rule.
Therefore, when an issuer relies on that exception to make such an
inducement grant without shareholder approval, it is sufficient to
notify Nasdaq about the grant and the use of the exception no later
than five calendar days after entering into the agreement to issue the
securities; or
    (B)-(C) No change.
    (D) [entering into] issuing any common stock, or any security
convertible into common stock in a transaction that may result in the
potential issuance of common stock, [(or securities convertible into
common stock)] greater than 10% of either the total shares outstanding
or the voting power outstanding on a pre-transaction basis.
    The notifications required by this paragraph must be made on the
Notification Form: Listing of Additional Shares and Nasdaq encourages
companies to file this form as soon as practicable, even if all of the
relevant terms are not yet known. Nasdaq reviews these forms to
determine compliance with applicable Nasdaq rules, including the
shareholder approval requirements. Therefore, if a company fails to
file timely the form required by this paragraph, Nasdaq may issue a
Staff Determination (pursuant to the Rule 4800 Series) that is either a
public reprimand letter or a delisting determination.
    (18)-(30) No change.
    (d) No change.
4320. Listing Requirements for Non-Canadian Foreign Securities and
American Depositary Receipts
    To qualify for listing on Nasdaq, a security of a non-Canadian
foreign issuer, an American Depositary Receipt (ADR) or similar
security issued in respect of a security of a foreign issuer shall
satisfy the requirements of paragraphs (a), (b), and (e) of this Rule.
Issuers that meet these requirements, but that are not listed on the
Nasdaq Global Market, are listed on the Nasdaq Capital Market.
    (a)-(d) No change.
    (e) In addition to the requirements contained in paragraphs (a) and
(b), the security shall satisfy the criteria set out in this subsection
for listing on Nasdaq. In the case of ADRs, the underlying security
will be considered when determining the ADR's qualification for initial
or continued listing on Nasdaq.
    (1)-(14) No change.
    (15) The issuer of any class of securities listed on Nasdaq, except
for American Depositary Receipts, [shall be] is required to notify
Nasdaq [on the appropriate form no later than] at least 15 calendar
days prior to:
    (A)(i) establishing or materially amending a stock option plan,
purchase plan or other equity compensation arrangement pursuant to
which stock may be acquired by officers, directors, employees, or
consultants without shareholder approval.
    (ii) Nasdaq recognizes that when an issuer makes an equity grant to
induce an individual to accept employment, as permitted by the
exception contained in Rule 4350(i)(1)(A)(iv), it may not be practical
to provide the advance notice otherwise required by this Rule.
Therefore, when an issuer relies on that exception to make such an
inducement grant without shareholder approval, it is sufficient to
notify Nasdaq about the grant and the use of the exception no later
than five calendar days after entering into the agreement to issue the
securities; or
    (B)-(C) No change.
    (D) [entering into] issuing any common stock, or any security
convertible into common stock in a transaction that may result in the
potential issuance of common stock, [(or securities convertible into
common stock)] greater than 10% of either the total shares outstanding
or the voting power outstanding on a pre-transaction basis.
    The notifications required by this paragraph must be made on the
Notification Form: Listing of Additional Shares and Nasdaq encourages
companies to file this form as soon as practicable, even if all of the
relevant terms are not yet known. Nasdaq reviews these forms to
determine compliance with applicable Nasdaq rules, including the
shareholder approval requirements. Therefore, if a company fails to
file timely the form required by this paragraph, Nasdaq may issue a
Staff Determination (pursuant to the Rule 4800 Series) that is either a
public reprimand letter or a delisting determination.
    (16)-(26) No change.
    (f) No change.
* * * * *

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

    In its filing with the Commission, Nasdaq 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. Nasdaq 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
    Nasdaq Rules 4310(c)(17) and 4320(e)(15) require a company to
provide 15 days notice prior to issuing securities in certain specified
situations. These notifications allow Nasdaq to make compliance
determinations regarding stock issuances that are potentially subject
to the shareholder approval rules.
    Nasdaq proposes to clarify the timing requirement contained in
Rules 4310(c)(17)(D) and 4320(e)(15)(D).\5\ At present, the rules
provide that notifications under these subparagraphs are required prior
to ``entering into'' a described transaction. However, while Nasdaq has
treated this requirement as being satisfied if the company files the
required notification 15 days before issuing the securities, that
interpretation is not transparent from the rule. As such, Nasdaq
proposes to revise these provisions such that notice will instead be
required prior to ``issuing'' the securities, consistent with the
requirements in paragraphs (B) and (C) of those rules.\6\
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    \5\ See supra note 3.
    \6\ Nasdaq believes that this is also consistent with the
requirements of other marketplaces. See, e.g., New York Stock
Exchange LLC (``NYSE'') Listed Company Manual Section 703.01(B)
(requiring subsequent listing applications to be filed at least two
weeks before the company wishes the NYSE to take action upon the
application) and American Stock Exchange LLC (``Amex'') Company
Guide Sections 303(b) and 331 (requiring a company to submit an
additional listing application at least one to two weeks in advance
of the date on which Amex's approval is needed).
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    In addition, Nasdaq proposes to modify the timing requirement
contained in Rules 4310(c)(17)(A) and 4320(e)(15)(A) as it relates to
companies relying on the exception to shareholder approval for
inducement grants to new employees contained in Rule

4350(i)(1)(A)(iv).\7\ Because these grants can be made at the time the
employment offer is accepted, companies may not be able to provide 15
days advance notice. Instead, the proposed rule would require
notification no later than five calendar days after entering into the
agreement to issue the securities.
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    \7\ Rule 4350(i)(1)(A)(iv) allows an exception to the
requirement to obtain shareholder approval for equity compensation
for certain ``issuances to a person not previously an employee or
director of the company, or following a bona fide period of non-
employment, as an inducement material to the individual's entering
into employment with the company.''
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    Nasdaq also proposes to amend Rules 4310(c)(17) and 4320(e)(15) to
clarify that the notifications required by these rules must be made on
a Listing of Additional Shares (``LAS'') Notification Form and to
provide transparency to the consequences of failing to timely file LAS
notifications. Specifically, depending on the circumstances, Nasdaq may
issue a Staff Determination (pursuant to the Rule 4800 Series) that is
a public reprimand letter or a delisting determination. In determining
whether to issue a Staff Determination, and whether such a Staff
Determination would be a delisting determination or a public reprimand
letter, Nasdaq would consider whether the issuer has demonstrated a
pattern of late filings, the length of such filing delays, the reason
for the delays, whether the issuer has been contacted concerning
previous violations, whether the underlying transactions were
themselves non-compliant, and whether the issuer has taken steps to
assure that future violations will not occur.
    Finally, in connection with this change, Nasdaq notes that it also
intends to adopt a process whereby it will notify companies when the
LAS review process has been completed. At present, Nasdaq does not
routinely inform a company when it has completed its review.
2. Statutory Basis
    Nasdaq believes that the proposed rule change is consistent with
the provisions of Section 6 of the Act,\8\ in general, and with Section
6(b)(5) of the Act,\9\ in particular, in that the proposal is designed
to prevent fraudulent and manipulative acts and practices, to promote
just and equitable principles of trade, to foster cooperation and
coordination with persons engaged in regulating, clearing, settling,
processing information with respect to, and facilitating transactions
in securities, to remove impediments to and perfect the mechanism of a
free and open market and a national market system, and, in general, to
protect investors and the public interest. The proposed rule change is
designed to simplify and provide transparency to the operation of
Nasdaq's notification requirements.
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    \8\ 15 U.S.C. 78f.
    \9\ 15 U.S.C. 78f(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    Nasdaq does not believe that the proposed rule change will result
in 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

    Written comments were neither solicited nor received.

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 such 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 is consistent with the Act. Comments may be submitted by any of
the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://
www.sec.gov/rules/sro.shtml); or
     Send an e-mail to<EMAIL_ADDRESS>Please include
File Number SR-NASDAQ-2008-017 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NASDAQ-2008-017. 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 such
filing also will be available for inspection and copying at the
principal office of Nasdaq. 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-NASDAQ-2008-017 and should be submitted on or before May
1, 2008.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
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    \10\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. E8-7508 Filed 4-9-08; 8:45 am]

BILLING CODE 8011-01-P