[Federal Register Volume 79, Number 87 (Tuesday, May 6, 2014)]
[Notices]
[Pages 25965-25968]
[FR Doc No: 2014-10289]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-72053; File No. SR-BX-2014-021]

Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of
Filing of Proposed Rule Change To Add New Paragraphs (h) and (i) to
Rule 11890, entitled ``Clearly Erroneous Transactions''

April 30, 2014.
    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 April 17, 2014, NASDAQ OMX BX, Inc. (``BX'' or ``Exchange''),
filed with the Securities and Exchange Commission (``Commission'') the
proposed rule change as described in Items I, II, and III below, which
Items have been 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 add new paragraphs (h) and (i) to Rule
11890, entitled ``Clearly Erroneous Transactions.''
    The text of the proposed rule change is available from BX's Web
site at http://nasdaqomxbx.cchwallstreet.com, at BX's principal office,
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 this filing is to add new paragraph (h) to Rule
11890 to provide the Exchange with authority to nullify transactions
that were effected based on the same fundamentally incorrect or grossly
misinterpreted issuance information even if such transactions occur
over a period of several days, as further described below. An example
of fundamentally incorrect and grossly misinterpreted issuance
information that led to a severe valuation error is included below for
illustrative purposes.
    The Exchange also proposes to add new paragraph (i) to Rule 11890
to make clear that in the event of any disruption or malfunction in the
operation of the electronic communications and trading facilities of
the Exchange, another market center or responsible single plan
processor in connection with the transmittal or receipt of a regulatory
trading halt, suspension or pause (hereafter generally referred to as a
``trading halt'' for ease of reference), the Exchange will nullify any
transaction that occurs after the primary listing market for a security
declares a trading halt with respect to such security. In the event a
trading halt is declared, then prematurely lifted in error, and then
re-instituted, proposed paragraph (i) would also result in
nullification of any transactions that occur before the official, final
end of the trading halt according to the primary listing market.
    The Exchange also proposes a change to certain cross-references in
Rule 11890, due to the addition of paragraphs (h) and (i).
Specifically, the Exchange proposes to update cross-references in
existing paragraph (g) of Rule 11890 in order to make clear that the
provisions of paragraph (g) do not alter the application of other
provisions of Rule 11890, including new paragraphs (h) and (i).
Background
    On September 10, 2010, the Commission approved, on a pilot basis,
changes to Rule 11890 to provide for uniform treatment: (1) Of clearly
erroneous execution reviews in multi-stock events involving twenty or
more securities; and (2) in the event transactions occur that result in
the issuance of an individual stock trading pause by the primary
listing market and subsequent transactions that occur before the
trading pause is in effect on the Exchange.\3\ The Exchange also
adopted additional changes to Rule 11890 that reduced the ability of
the Exchange to deviate from the objective standards set forth in Rule
11890,\4\ and

in 2013, adopted a provision designed to address the operation of the
Plan to Address Extraordinary Market Volatility Pursuant to Rule 608 of
Regulation NMS under the Act (the ``Limit Up-Limit Down Plan'' or the
``Plan'').\5\ The Exchange removed the specific provisions related to
individual stock trading pauses and extended to April 8, 2014 the pilot
program applicable to certain provisions of Rule 11890.\6\ Most
recently, the Exchange extended the effectiveness of the pilot program
under Rule 11890 to coincide with the pilot period for the Plan,
including any extensions to the pilot period for the Plan.\7\
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    \3\ Securities Exchange Act Release No. 62886 (Sept. 10, 2010),
75 FR 56613 (Sept. 16, 2010) (SR-BX-2010-040).
    \4\ Id.
    \5\ See Securities Exchange Act Release No. 68818 (Feb. 1,
2013), 78 FR 9100 (Feb. 7, 2013) (SR-BX-2013-010); Securities
Exchange Act Release No. 67091 (May 31, 2012), 77 FR 33498 (June 6,
2012) (the ``Limit Up-Limit Down Release''); see also Exchange Rule
11890(g).
    \6\ Paragraphs (a)(2)(C), (c)(1), (b)(i), (b)(ii), and (g) of
Rule 11890 are currently subject to a pilot program. See Securities
Exchange Act Release No. 70542 (Sept. 27, 2013), 78 FR 61427 (Oct.
3, 2013) (SR-BX-2013-053).
    \7\ Securities Exchange Act Release No. 71784 (Mar. 24, 2014),
79 FR 17610 (Mar. 28, 2014) (SR-BX-2014-014).
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    As proposed, similar to other provisions added in recent years, as
described above, both paragraph (h) and paragraph (i) would be subject
to the pilot period, and thus, will coincide with the pilot period for
the Plan, including any extensions to the pilot period for the Plan.
Executions Based on Incorrect or Grossly Misinterpreted Issuance
Information
    The Exchange proposes to adopt a new provision, paragraph (h), to
Rule 11890, which would provide that a series of transactions in a
particular security on one or more trading days may be viewed as one
event if all such transactions were effected based on the same
fundamentally incorrect or grossly misinterpreted issuance information
(e.g., with respect to a stock split or corporate dividend) resulting
in a severe valuation error for all such transactions (the ``Event'').
    As proposed, an Officer of the Exchange or senior level employee
designee, acting on his or her own motion, would be required to take
action to declare all transactions that occurred during the Event null
and void not later than the start of trading on the day following the
last transaction in the Event. If trading in the security is halted
before the valuation error is corrected, the Officer of the Exchange or
senior level employee designee would be required to take action to
declare all transactions that occurred during the Event null and void
prior to the resumption of trading. The Exchange proposes to make clear
that no action can be taken pursuant to proposed paragraph (h) with
respect to any transactions that have reached settlement date for the
security or that result from an initial public offering of a security.
The Exchange believes that declaring a trade null and void after
settlement date would be complex to administer and unfair to the
affected parties. The Exchange also believes that excluding IPOs from
the proposed rule will ensure that transactions in a new security for
which there is no benchmark information are not called into question,
as it is the IPO process itself, including the extensive public
disclosure associated with IPOs, that is intended to drive price
formation.
    Further, the Exchange proposes that to the extent transactions
related to an Event occur on one or more other market centers, the
Exchange will promptly coordinate with such other market center(s) to
ensure consistent treatment of the transactions related to the Event,
if practicable. The Exchange also proposes to state in the Rule that
any action taken in connection with paragraph (h) will be taken without
regard to the Numerical Guidelines set forth in paragraph (a)(2)(C)(1)
of Rule 11890. In particular, the Exchange believes that there could be
scenarios where there are erroneous transactions related to an Event
that do not meet applicable Numerical Guidelines but that are, upon
review, clearly erroneous. One example of a situation that could occur
is a corporate action, such as a stock split, that results in the
dissemination of fundamentally incorrect or grossly misinterpreted
issuance information and leads to erroneous transactions at a price
that is close to the price at which the security was previously
trading. Even if such trading is consistent with prior trading activity
for the security, and thus would not meet applicable Numerical
Guidelines, the Exchange would have the authority to nullify such
transactions if they were effected based on the same fundamentally
incorrect or grossly misinterpreted issuance information and there was
a severe valuation error as a result (i.e., although the security
should be trading at a price further away from its previous range, due
to fundamentally incorrect or grossly misinterpreted issuance
information with respect to the corporate action the security continues
to trade at a price that does not meet applicable Numerical
Guidelines).
    The Exchange also proposes to include a provision, as it does in
many other sub-paragraphs of Rule 11890, stating that each Member
involved in a transaction subject to proposed paragraph (h) shall be
notified as soon as practicable by the Exchange, and that the party
aggrieved by the action may appeal such action in accordance with
Exchange Rule 11890(c).
    In particular, the Exchange believes it is necessary to have
authority to nullify trades that occur in an event similar to an event
involving an exchange offer (``Exchange Offer'') made by U.S. Bancorp
on the New York Stock Exchange (``NYSE'') in 2010 in which there were a
series of executions based on incorrect or grossly misinterpreted
issuance information. As a result of such information, the securities
traded at severely dislocated prices. At the time, the NYSE filed an
emergency rule filing in order to respond to that event.\8\ With the
filing the NYSE interpreted the rule applicable to clearly erroneous
executions as permitting the NYSE to nullify all trades resulting after
the Exchange Offer at severely dislocated prices.\9\ The Exchange
believes it is important to have in place a rule to break such trades
if an event like the U.S. Bancorp event occurs again in the future. The
U.S. Bancorp event is described in further detail below and is intended
to be illustrative of the manner in which the Exchange proposes to
utilize proposed paragraph (h), if necessary.
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    \8\ Securities Exchange Act Release No. 62609 (July 30, 2010),
75 FR 47327 (Aug. 5, 2010) (SR-NYSE-2010-55).
    \9\ Id.
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    In May 2010, U.S. Bancorp commenced an offer to exchange up to
1,250,000 Depositary Shares, each representing a 1/100 interest in a
share of Series A Non-Cumulative Perpetual Preferred Stock, $100,000
liquidation preference per share (the ``Depositary Shares'') for any
and all of the 1,250,000 outstanding 6.189% Fixed-to-Floating Rate
Normal ITS issued by U.S. Bancorp Capital IX, each with a liquidation
amount of $1,000 (the ``Normal ITS''). The Depositary Shares were
approved for listing on the NYSE under the symbol USB PRA. On June 11,
2010, the NYSE opened the shares on a quote, but trading did not
commence until June 16, 2010 at prices in the range of $79.00 per
share. There were additional executions on the NYSE in that price range
on June 17 and 18, 2010. On June 18, 2010, NYSE staff learned that the
prices at which trades had executed were not consistent with the value
of the security, which was closer to an $800 price. Upon learning of
the pricing disparity, NYSE immediately halted trading in the

Depositary Shares on all markets and alerted U.S. Bancorp and other
exchanges that traded the Depositary Shares of the pricing discrepancy.
    In order to address the situation, the NYSE filed a proposal to
interpret its existing clearly erroneous execution rule such that the
trading in Depositary Shares from June 16 to June 18 constituted a
single event because that trading was based on incorrect or grossly
misinterpreted issuance information that resulted in severe price
dislocation (the ``U.S. Bancorp Event'').\10\ Because the Depositary
Shares were halted before the price of the Depositary Shares ceased to
be dislocated, and remained halted, the NYSE was able to review trading
in Depositary Shares and declare null and void all trading in the U.S.
Bancorp Event before the security resumed trading.
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    \10\ Id.
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    Rather than filing a proposal in response to a similar event
happening again, the Exchange proposes to add paragraph (h) in order to
nullify transactions consistent with the description of the proposed
Rule above.
Executions After a Trading Halt Has Been Declared
    The Exchange proposes to add new paragraph (i) to Rule 11890 to
make clear that in the event of any disruption or malfunction in the
operation of the electronic communications and trading facilities of
the Exchange, another market center or responsible single plan
processor in connection with the transmittal or receipt of a trading
halt, the Exchange will nullify any transaction that occurs after the
primary listing market for a security declares a trading halt and
before such trading halt with respect to such security has officially
ended according to the primary listing market. In addition, proposed
paragraph (i) will make clear that in the event a trading halt is
declared, then prematurely lifted in error and then re-instituted, the
Exchange will nullify transactions that occur before the official,
final end of the trading halt according to the primary listing market.
    As with other provisions in Rule 11890, including proposed
paragraph (h) as discussed above, the authority to nullify transactions
pursuant to paragraph (i) would be vested in an officer of the Exchange
or other senior level employee designee, acting on his or her own
motion. Any action taken in connection with paragraph (i) would be
taken in a timely fashion, generally within thirty (30) minutes of the
detection of the erroneous transaction and in no circumstances later
than the start of Regular Market Session \11\ on the trading day
following the date of execution(s) under review. The Exchange also
proposes to specify that any action taken in connection with proposed
paragraph (i) will be taken without regard to the Numerical Guidelines
set forth in paragraph (a)(2)(C)(1) of Rule 11890. The Exchange
believes it is appropriate to act to nullify transactions pursuant to
proposed paragraph (i) without regard to applicable Numerical
Guidelines because in the situations covered by paragraph (i), such
transactions should not have occurred in the first instance, and thus,
their nullification does not put parties in any different position than
they should have been. The Exchange also believes that the certainty
that the proposed rule provides is critical in situations involving
trading halts.
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    \11\ Regular Market Session is defined in Exchange Rule
4120(b)(4)(D) as the trading session from 9:30 a.m. until 4:00 p.m.
or 4:15 p.m.
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    As it has proposed for paragraph (h), as described above, the
Exchange also proposes to include a provision stating that each Member
involved in a transaction subject to proposed paragraph (i) shall be
notified as soon as practicable by the Exchange, and that the party
aggrieved by the action may appeal such action in accordance with
Exchange Rule 11890(c).
    The Exchange notes that trading in a security is typically halted
immediately on the Exchange when the primary listing market issues a
trading halt in such security. However, in certain circumstances, due
to a technical issue related to the transmission or receipt of the
electronic message instituting such trading halt or due to other
extraordinary circumstances, executions can occur on the Exchange
following the declaration of such a trading halt. Similarly, although
rare, the Exchange has witnessed scenarios where due to extraordinary
circumstances a trading halt is declared, then prematurely lifted in
error and then re-instituted. It is these types of extraordinary
circumstances that the Exchange believes require certainty, and thus,
the Exchange believes it necessary to make clear that in such a
circumstance any transactions after a trading halt has been declared
will be nullified. In the event that a trading halt is declared as of a
future time (i.e., if the primary listing exchange declares a trading
halt as of a specific, future time in order to ensure coordination
amongst market participants), the Exchange would only nullify
transactions occurring after the time the trading halt was supposed to
be in place until the official end of the trading halt according to the
primary listing market.
    The Exchange also notes that it currently has authority pursuant to
paragraph (b)(i) of Rule 11890 to review and nullify transactions that
arise during a disruption or malfunction in the operation of any
electronic communications and trading facilities of the Exchange.
Further, paragraph (b)(i) of Rule 11890 gives the Exchange authority to
use a lower numerical guideline than is set forth in paragraph
(a)(2)(C)(1) of Rule 11890 when necessary to maintain a fair and
orderly market and to protect investors and the public interest. Thus,
while the Exchange believes that paragraph (b)(i) does give the
Exchange the authority to nullify transactions occurring when there is
an Exchange technical issue related to the transmission or receipt of
the electronic message instituting a trading halt or with respect to a
technical issue related to a prematurely lifted trading halt, the
Exchange believes that proposed paragraph (i) will provide appropriate
authority for the Exchange to nullify all such transactions whether or
not the systems problem occurs on the Exchange with respect to trading
halts and explicit clarity for market participants that such
transactions will be nullified. The Exchange believes that such
authority is appropriate because when relied upon the Exchange will be
cancelling trades that should not have occurred in the first instance.
Finally, the Exchange believes that such authority is appropriate
because a trading halt declared by the primary listing market is
indicative of an issue with respect to the applicable security or a
larger set of securities.
 2. Statutory Basis
    The Exchange believes that its proposal is consistent with the
requirements of the Act and the rules and regulations thereunder that
are applicable to a national securities exchange, and, in particular,
with the requirements of Section 6(b) of the Act.\12\ In particular,
the proposal is consistent with Section 6(b)(5) of the Act,\13\ because
it would promote just and equitable principles of trade, remove
impediments to, and perfect the mechanism of, a free and open market
and a national market system.
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    \12\ 15 U.S.C. 78f(b).
    \13\ 15 U.S.C. 78f(b)(5).
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    The Exchange believes that it is appropriate to adopt a provision

granting the Exchange authority to nullify trades that occur if an
Event similar to the U.S. Bancorp Event occurs again. The Exchange
believes that this provision will allow the Exchange to act in the
event of such a severe valuation error, that such action would promote
just and equitable principles of trade and that the proposal is
therefore consistent with the Act. Similarly, the Exchange believes
that adding a provision allowing the Exchange to nullify transactions
that occur when a trading halt is declared, then prematurely lifted in
error and then reinstituted, and providing that in the event of any
disruption or malfunction in the operation of the electronic
communications and trading facilities of the Exchange, another market
center or responsible single plan processor in connection with the
transmittal or receipt of a trading halt the Exchange will nullify
trades occurring after a trading halt has been declared by the primary
listing market for the security will help to avoid confusion amongst
market participants, which is consistent with the protection of
investors and the public interest and therefore consistent with the
Act. The Exchange further believes that the proposal is appropriate and
consistent with the Act because when relied upon the Exchange will be
cancelling trades that should not have occurred in the first instance.
The Exchange also believes that the proposal is appropriate because a
trading halt declared by the primary listing market is indicative of an
issue with respect to the applicable security or a larger set of
securities.
    The Exchange believes that the proposal to update cross-references
in existing paragraph (g) of Rule 11890 to include new paragraphs (h)
and (i) is consistent with the Act because, as is the case with respect
to the current rule, this change makes clear that the provisions of
paragraph (g) do not alter the application of other provisions of Rule
11890.
    The Exchange believes that the Financial Industry Regulatory
Authority (``FINRA'') and other national securities exchanges are also
filing similar proposals to add provisions similar to the provisions
proposed by the Exchange above. Therefore, the proposal promotes just
and equitable principles of trade in that it promotes transparency and
uniformity across markets concerning treatment of transactions as
clearly erroneous. The proposed rule change would also help to assure
consistent results in handling erroneous trades across the U.S.
markets, thus furthering fair and orderly markets, the protection of
investors and the public interest.

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change
implicates any competitive issues. To the contrary, as noted above, the
Exchange believes FINRA and other national securities exchanges are
also filing similar proposals, and thus, that the proposal will help to
ensure consistency across market centers.

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

    The Exchange has not solicited, and does not intend to solicit,
comments on this proposed rule change. The Exchange has not received
any written comments from members or other interested parties.

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

    Within 45 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 shall: (a) By order approve
or disapprove 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 email to<EMAIL_ADDRESS>Please include
File Number SR-BX-2014-021 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-BX-2014-021. 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 the Exchange. 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-BX-2014-021 and should be
submitted on or before May 27, 2014.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
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    \14\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-10289 Filed 5-5-14; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 80, Number 63 (Thursday, April 2, 2015)]
[Rules and Regulations]
[Pages 17687-17689]
[FR Doc No: 2015-07595]

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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 165

[Docket Number USCG-2015-0163]
RIN 1625-AA00

Safety Zone: Tesoro Terminal Protest: Port of Long Beach Harbor;
Pacific Ocean, California

AGENCY: Coast Guard, DHS.

ACTION: Temporary final rule.

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SUMMARY: The Coast Guard is establishing a temporary safety zone in the
Pacific Ocean to encompass waters within the Port of Long Beach. The
safety zone will be established as a result of specific waterside
protest at Tesoro Terminals and in support of the safe navigation of
all waterway users. Entry into the zone will be prohibited unless
specifically authorized by the Captain of the Port, Los Angeles--Long
Beach, or her designated representative.

DATES: This rule is effective without actual notice from April 2, 2015
until April 30, 2015. For the purposes of enforcement, actual notice
will be used from the date the rule was signed, March 13, 2015, until
April 2, 2015.

ADDRESSES: Documents mentioned in this preamble are part of docket
[USCG-2015-0163]. To view documents mentioned in this preamble as being
available in the docket, go to http://www.regulations.gov, type the
docket number in the ``SEARCH'' box and click ``SEARCH.'' Click on Open
Docket Folder on the line associated with this rulemaking. You may also
visit the Docket Management Facility in Room W12-140 on the ground
floor of the Department of Transportation West Building, 1200 New
Jersey Avenue SE., Washington, DC 20590, between 9 a.m. and 5 p.m.,
Monday through Friday, except Federal holidays.

FOR FURTHER INFORMATION CONTACT: If you have questions on this
temporary rule, call or email LTJG Jevon James, Waterways Management,
U.S. Coast Guard Sector Los Angeles--Long Beach; telephone (310) 521-
3860, email<EMAIL_ADDRESS>If you have questions on viewing
or submitting material to the docket, call Barbara Hairston, Program
Manager, Docket Operations, telephone<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Table of Acronyms

DHS Department of Homeland Security
FR Federal Register
NPRM Notice of Proposed Rulemaking

A. Regulatory History and Information

    The Coast Guard is issuing this temporary final rule without prior
notice and opportunity to comment pursuant to authority under section
4(a) of the Administrative Procedure Act (APA) (5 U.S.C. 553(b)). This
provision authorizes an agency to issue a rule without prior notice and
opportunity to comment when the agency for good cause finds that those
procedures are ``impracticable, unnecessary, or contrary to the public
interest.'' Under 5 U.S.C. 553(b)(B), the Coast Guard finds that good
cause exists for not publishing a notice of proposed rulemaking (NPRM)
with respect to this rule as it would be impracticable due to the short
notice of the event and the limited duration this rule will be
enforced.
    Under 5 U.S.C. 553(d)(3), the Coast Guard finds that good cause
exists for making this rule effective less than 30 days after
publication in the Federal Register due to the short notice of the
event and the limited duration this rule will be enforced.

B. Basis and Purpose

    The legal basis for this rulemaking can be found in 33 CFR 1.05-1
which authorizes the Coast Guard to establish and define safety zones.
With recent local labor disputes, protestors have targeted Tesoro
Terminals within the Ports of Los Angeles--Long Beach. The Coast Guard
anticipates water based demonstrations which may impede the safe
navigation of vessels coming to and leaving Tesoro Terminals, as well
as the demonstrators themselves. Thus, the Coast Guard is establishing
a temporary safety zone on all navigable waters of the Pacific Ocean,
from the surface to the sea floor, 100 yards in all direction of the
following berths in the Port of Long Beach: Pier B 76-77, Pier B 84-87,
and Pier T 121.

C. Discussion of the Final Rule

    The U.S. Coast Guard is establishing a temporary safety zone
encompassing all navigable waters from the surface to the sea floor,
100 yards in all direction of the following berths in the Port of Long
Beach: Pier B 76-77, Pier B 84-87, and Pier T 121. The temporary safety
zone will be enforced throughout each day. During the enforcement
period, vessels are prohibited from entering

into, transiting through, or anchoring within the designated area
unless authorized by the Captain of the Port or her designated
representative. Sector Los Angeles--Long Beach may be contacted on VHF-
FM Channel 16 or<PHONE_NUMBER>. General boating public will be notified
prior to the enforcement of the temporary safety zone via Broadcast
Notice to Mariners.

D. Regulatory Analyses

    We developed this rule after considering numerous statutes and
executive orders related to rulemaking. Below we summarize our analyses
based on these statutes and executive orders.

1. Regulatory Planning and Review

    This rule is not a significant regulatory action under section 3(f)
of Executive Order 12866, Regulatory Planning and Review, as
supplemented by Executive Order 13563, Improving Regulation and
Regulatory Review, and does not require an assessment of potential
costs and benefits under section 6(a)(3) of Executive Order 12866 or
under section 1 of Executive Order 13563. The Office of Management and
Budget has not reviewed it under those Orders. It is not
``significant'' under the regulatory policies and procedures of the
Department of Homeland Security (DHS).
    The implementation of this temporary safety zone is necessary for
the protection of all waterway users. The size of the zone is the
minimum necessary to provide adequate protection for the waterways
users, adjoining areas, and the public. Any hardships experienced by
persons or vessels are considered minimal compared to the interest in
protecting the public. Accordingly, full regulatory evaluation under
paragraph 10(e) of the regulatory policies and procedures of the DHS is
unnecessary.

2. Impact on Small Entities

    The Regulatory Flexibility Act of 1980 (RFA), 5 U.S.C. 601-612, as
amended, requires federal agencies to consider the potential impact of
regulations on small entities during rulemaking. The Coast Guard
certifies under 5 U.S.C. 605(b) that this rule will not have a
significant economic impact on a substantial number of small entities.
    This rule will affect the following entities, some of which may be
small entities: The owners or operators of vessels intending to transit
or anchor within the designated area during the designated enforcement
times. This temporary safety zone will not have a significant economic
impact on a substantial number of small entities for the following
reasons: (i) Vessel traffic can pass safely around the area, (ii) this
zone is limited in scope and duration, (iii) the Coast Guard will issue
Broadcast Notice to Mariners via VHF-FM marine channel 16 prior to and
while the safety zone is enforced.

3. Assistance for Small Entities

    Under section 213(a) of the Small Business Regulatory Enforcement
Fairness Act of 1996 (Pub. L. 104-121), we want to assist small
entities in understanding this rule. If the rule would affect your
small business, organization, or governmental jurisdiction and you have
questions concerning its provisions or options for compliance, please
contact the person listed in the FOR FURTHER INFORMATION CONTACT,
above.
    Small businesses may send comments on the actions of Federal
employees who enforce, or otherwise determine compliance with, Federal
regulations to the Small Business and Agriculture Regulatory
Enforcement Ombudsman and the Regional Small Business Regulatory
Fairness Boards. The Ombudsman evaluates these actions annually and
rates each agency's responsiveness to small business. If you wish to
comment on actions by employees of the Coast Guard, call 1-888-REG-FAIR
(1-888-734-3247). The Coast Guard will not retaliate against small
entities that question or complain about this rule or any policy or
action of the Coast Guard.

4. Collection of Information

    This rule will not call for a new collection of information under
the Paperwork Reduction Act of 1995 (44 U.S.C. 3501-3520).

5. Federalism

    A rule has implications for federalism under Executive Order 13132,
Federalism, if it has a substantial direct effect on the States, on the
relationship between the national government and the States, or on the
distribution of power and responsibilities among the various levels of
government. We have analyzed this rule under that Order and determined
that this rule does not have implications for federalism.

6. Protest Activities

    The Coast Guard respects the First Amendment rights of protesters.
Protesters are asked to contact the person listed in the FOR FURTHER
INFORMATION CONTACT section to coordinate protest activities so that
your message can be received without jeopardizing the safety or
security of people, places or vessels.

7. Unfunded Mandates Reform Act

    The Unfunded Mandates Reform Act of 1995 (2 U.S.C. 1531-1538)
requires Federal agencies to assess the effects of their discretionary
regulatory actions. In particular, the Act addresses actions that may
result in the expenditure by a State, local, or tribal government, in
the aggregate, or by the private sector of $100,000,000 (adjusted for
inflation) or more in any one year. Though this rule will not result in
such expenditure, we do discuss the effects of this rule elsewhere in
this preamble.

8. Taking of Private Property

    This rule will not cause a taking of private property or otherwise
have taking implications under Executive Order 12630, Governmental
Actions and Interference With Constitutionally Protected Property
Rights.

9. Civil Justice Reform

    This rule meets applicable standards in sections 3(a) and 3(b)(2)
of Executive Order 12988, Civil Justice Reform, to minimize litigation,
eliminate ambiguity, and reduce burden.

10. Protection of Children

    We have analyzed this rule under Executive Order 13045, Protection
of Children from Environmental Health Risks and Safety Risks. This rule
is not an economically significant rule and does not create an
environmental risk to health or risk to safety that may
disproportionately affect children.

11. Indian Tribal Governments

    This rule does not have tribal implications under Executive Order
13175, Consultation and Coordination With Indian Tribal Governments,
because it does not have a substantial direct effect on one or more
Indian tribes, on the relationship between the Federal Government and
Indian tribes, or on the distribution of power and responsibilities
between the Federal Government and Indian tribes.

12. Energy Effects

    This action is not a ``significant energy action'' under Executive
Order 13211, Actions Concerning Regulations That Significantly Affect
Energy Supply, Distribution, or Use.

13. Technical Standards

    This rule does not use technical standards. Therefore, we did not
consider the use of voluntary consensus standards.

14. Environment

    We have analyzed this rule under Department of Homeland Security
Management Directive 023-01 and Commandant Instruction M16475.lD, which
guide the Coast Guard in complying with the National Environmental
Policy Act of 1969 (NEPA) (42 U.S.C. 4321-4370f), and have determined
that this action is one of a category of actions that do not
individually or cumulatively have a significant effect on the human
environment. This rule is categorically excluded from further review
under paragraph 34(g) of Figure 2-1 of the Commandant Instruction. An
environmental analysis checklist supporting this determination and a
Categorical Exclusion Determination are available in the docket where
indicated under ADDRESSES. We seek any comments or information that may
lead to the discovery of a significant environmental impact from this
rule.

List of Subjects in 33 CFR Part 165

    Harbors, Marine safety, Navigation (water), Reporting and record
keeping requirements, Security measures, Waterways.

    For the reasons discussed in the preamble, the Coast Guard amends
33 CFR part 165 as follows:

PART 165--REGULATED NAVIGATION AREAS AND LIMITED ACCESS AREAS

0
1. The authority citation for part 165 continues to read as follows:

    Authority: 33 U.S.C. 1231; 46 U.S.C. Chapter 701; 50 U.S.C. 191,
195; 33 CFR 1.05-1, 6.04-1, 6.04-6, and 160.5; Pub. L. 107-295, 1.16
Stat. 2064; Department of Homeland Security Delegation No. 0170.1.

0
2. Add Sec.  165.T11-687 to read as follows:

Sec.  165.T11-687  Safety Zone: Tesoro Terminal Protest: Port of Long
Beach Harbor; Pacific Ocean, California

    (a) Location. The limits of the safety zone are as follows:
Encompassing all navigable waters of Captain of the Port Zone LA-LB
from the surface to the sea floor, within 100 yards in all direction of
the following berths in the Port of Long Beach: Pier B 76-77, Pier B
84-87, and Pier T 121.
    (b) Enforcement Period. This section will be enforced throughout
the entirety of each day from March 13-April 30, 2015. The general
boating public will be notified prior to the enforcement of the
temporary safety zone via Broadcast Notice to Mariners.
    (c) Regulations. In accordance with the general regulations in
Sec.  165.23 of this part, vessels are prohibited from entering into,
transiting through, or anchoring within the designated area unless
authorized by the Captain of the Port or her designated representative.
Sector Los Angeles--Long Beach may be contacted on VHF-FM Channel 16 or
310-521-3801.

    Dated: March 13, 2015.
J.F. Williams,
Captain, U.S. Coast Guard, Captain of the Port Los Angeles--Long Beach.
[FR Doc. 2015-07595 Filed 4-1-15; 8:45 am]
 BILLING CODE 9110-04-P


[Federal Register Volume 82, Number 125 (Friday, June 30, 2017)]
[Notices]
[Pages 29909-29910]
[FR Doc No: 2017-13754]

=======================================================================
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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

[Docket No. USCG-2010-0316]

National Boating Safety Advisory Council; Vacancies

AGENCY: Coast Guard, Department of Homeland Security.

ACTION: Request for applications.

-----------------------------------------------------------------------

SUMMARY: The Coast Guard seeks applications for membership on the
National Boating Safety Advisory Council. This Council advises the
Coast Guard on recreational boating safety regulations and other major
boating safety matters.

DATES: Completed applications should reach the Coast Guard on or before
August 29, 2017.

ADDRESSES: Applicants should send a cover letter expressing interest in
an appointment to the National Boating Safety Advisory Council and
specifying which membership category the applicant is applying under,
along with a resume detailing the applicant's boating experience via
one of the following methods:
     By email<EMAIL_ADDRESS>(preferred).
     By mail: Commandant (CG-BSX-2)/NBSAC, Attn: Mr. Jeff
Ludwig, U.S. Coast Guard, 2703 Martin Luther King Ave. SE., Stop 7501,
Washington, DC 20593-7501.

FOR FURTHER INFORMATION CONTACT: Mr. Jeff Ludwig, Alternate Designated
Federal Officer of the National Boating Safety Advisory Council;
telephone<PHONE_NUMBER> or email at<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: The National Boating Safety Advisory Council
is a Federal advisory committee which operates under the provisions of
Federal Advisory Committee Act, (Title 5 U.S.C., Appendix). It was
established under the authority of 46 United States Code 13110 and
advises the Coast Guard on boating safety regulations and other major
boating safety matters. The Council usually meets at least twice each
year at a location selected by the Coast Guard. It may also meet for
extraordinary purposes. Subcommittees or working groups may also meet
to consider specific issues.
    Each member serves for a term of three years. Members may be
considered to serve a maximum of two consecutive full terms. All
members serve at their own expense and receive no salary, or other
compensation from the Federal Government. The exception to this policy
is when attending National Boating Safety Advisory Council meetings;
members may be reimbursed for travel expenses and provided per diem in
accordance with Federal Travel Regulations.
    We will consider applications for the following seven positions
that will be vacant on January 1, 2018:
     Three representatives of State officials responsible for
State boating safety programs;
     Two representatives of recreational boat and associated
equipment manufacturers; and
     Two representatives of national recreational boating
organizations or the general public.
    If you are selected as a member from the general public, you will
be appointed and serve as a Special Government Employee as defined in
section 202(a) of Title 18, United States Code. Applicants for
appointment as a Special Government Employee, applicants are required
to complete a Confidential Financial Disclosure Report (OGE Form 450).
The Coast Guard may not release the reports or the information in them
to the public except under an order issued by a Federal court or as
otherwise provided under the Privacy Act (5 U.S.C. 552a). Only the
Designated Coast Guard Ethics Official or his or her designee may
release a Confidential Financial Disclosure Report. Applicants can
obtain this form by going to the Web site of the Office of Government
Ethics (www.oge.gov) or by contacting the individual listed above in
FOR FURTHER INFORMATION CONTACT. Applications for a member drawn from
the general public that are not accompanied by a completed OGE Form 450
will not be considered.
    Registered lobbyists are not eligible to serve on federal advisory
committees in an individual capacity. See ``Revised Guidance on
Appointment of Lobbyists to Federal Advisory Committees, Boards and
Commissions'' (79 FR 47482, August 13, 2014). The position we list for
a member from the general public would be someone appointed in their
capacity and would be designated as a Special Government Employee as
defined in section 202(a) of Title 18, U.S.C. Registered lobbyists are
lobbyist as defined in 2 U.S.C. 1602 who are required by 2 U.S.C. 1603
to register

with the Secretary of the Senate and the Clerk of the House of
Representatives.
    Applicants are considered for membership on the basis of their
particular expertise, knowledge, and experience in recreational boating
safety. In addition to recreational boating safety experience, the
Coast Guard is particularly interested in applicants who also have
experience developing and implementing national media outreach
campaigns designed to influence the decision-making of targeted
audiences. The vacancies announced in this notice apply to membership
positions that become vacant on January 1, 2018. Appointments for the
2017 vacancies remain pending, and applications received in response to
this notice may also be used to fill the seven positions which became
vacant on January 1, 2017. Applicants for the 2017 vacancies announced
in the Federal Register on March 22, 2016, (81 FR 15326) will
automatically be considered for the 2018 vacancies and do not need to
submit another application. Individuals, who submitted an application
for any year prior to 2017, are asked to re-submit an application if
the individual wishes to apply for any of the vacancies announced in
this notice.
    To be eligible, applicants should have experience in one of the
categories listed in the SUPPLEMENTARY INFORMATION section.
    The Department of Homeland Security does not discriminate in
selection of Council members on the basis of race, color, religion,
sex, national origin, political affiliation, sexual orientation, gender
identity, marital status, disability and genetic information, age,
membership in an employee organization, or other non-merit factor. The
Department of Homeland Security strives to achieve a widely diverse
candidate pool for all of its recruitment actions.
    If you are interested in applying to become a member of the
Council, send your cover letter and resume to Mr. Jeff Ludwig,
Alternate Designated Federal Officer of the National Boating Safety
Advisory Council via one of the transmittal methods in the ADDRESSES
section by the deadline in the DATES section of this notice.

J.F. Williams,
Captain, U.S. Coast Guard, Director of Inspections and Compliance.
[FR Doc. 2017-13754 Filed 6-29-17; 8:45 am]
 BILLING CODE 9110-04-P


[Federal Register: September 22, 2008 (Volume 73, Number 184)]
[Notices]
[Page 54585-54586]
[DOCID:fr22se08-34]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. EL03-77-008; Docket No. RP03-311-006]

Enron Power Marketing, Inc., and Enron Energy Services, Inc.,
Bridgeline Gas Marketing L.L.C., Citrus Trading Corporation, ENA
Upstream Company, LLC, Enron Canada Corp., Enron Compression Services
Company, Enron Energy Services, Inc., Enron MW, L.L.C., and Enron North
America Corp.; Notice of Filing

September 15, 2008.
    Take notice that on September 8, 2008, The Enron Parties and the
City of Seattle filed a revised stipulation and agreement, pursuant to
paragraph 4 of the Commission's August 29, 2008 Order, Enron Power
Marketing, Inc., 124 FERC ] 61,206 and Rule 602 of the Commission's
Rules of Practice and Procedure, 18 CFR 385.602.
    Any person desiring to intervene or to protest this filing must
file in accordance with Rules 211 and 214 of the Commission's Rules of
Practice and Procedure (18 CFR 385.211, 385.214). Protests will be
considered by the Commission in determining the appropriate action to
be taken, but will not serve to make protestants parties to the
proceeding. Any person wishing to become a party must file a notice of
intervention or motion to intervene, as appropriate. Such notices,
motions, or protests must be filed on or before the comment date.
Anyone filing a motion to intervene or protest must serve a copy of
that document on the Applicant and all the parties in this proceeding.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper using the ``eFiling'' link at http://
www.ferc.gov. Persons unable to file electronically should submit an
original and 14 copies of the protest or intervention to the Federal
Energy Regulatory Commission, 888 First Street, NE., Washington, DC
20426.
    This filing is accessible on-line at http://www.ferc.gov, using the
``eLibrary'' link and is available for review in the Commission's
Public Reference Room in Washington, DC.

There is an ``eSubscription'' link on the Web site that enables
subscribers to receive e-mail notification when a document is added to
a subscribed docket(s). For assistance with any FERC Online service,
please e-mail<EMAIL_ADDRESS>or call<PHONE_NUMBER> (toll
free). For TTY, call<PHONE_NUMBER>.
    Comment Date: 5 p.m Eastern Time on September 29, 2008.

Kimberly D. Bose,
Secretary.
[FR Doc. E8-22006 Filed 9-19-08; 8:45 am]

BILLING CODE 6717-01-P


[Federal Register Volume 81, Number 176 (Monday, September 12, 2016)]
[Rules and Regulations]
[Pages 62807-62808]
[FR Doc No: 2016-21373]

-----------------------------------------------------------------------

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Docket No. FAA-2015-4133; Airspace Docket No. 15-ANM-27]

Revocation of Class D Airspace; Vancouver, WA

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final rule.

-----------------------------------------------------------------------

SUMMARY: This action removes the Class D airspace at Pearson Field,
Vancouver, WA. FAA Joint Order 7400.2K states that non-towered airports
requiring a surface area will be designated Class E. Class E surface
area airspace was established on December 10, 2015. The FAA is taking
this action due to the lack of an operating air traffic control tower
at Pearson Field Airport, Vancouver, WA.

DATES: Effective 0901 UTC, November 10, 2016. The Director of the
Federal Register approves this incorporation by reference action under
Title 1, Code of Federal Regulations, part 51, subject to the annual
revision of FAA Order 7400.9 and publication of conforming amendments.

ADDRESSES: FAA Order 7400.9Z, Airspace Designations and Reporting
Points, and subsequent amendments can be viewed online at http://www.faa.gov/air_traffic/publications/. For further information, you can
contact the Airspace Policy Group, Federal Aviation Administration, 800
Independence Avenue SW., Washington, DC 20591; telephone:<PHONE_NUMBER>.
The Order is also available for inspection at the National Archives and
Records Administration (NARA). For information on the availability of
FAA Order 7400.9Z at NARA, call<PHONE_NUMBER>, or go to http://www.archives.gov/federal_register/code_of_federal-regulations/ibr_locations.html. FAA Order 7400.9, Airspace Designations and
Reporting Points, is published yearly and effective on September 15.

FOR FURTHER INFORMATION CONTACT: Richard Roberts, Federal Aviation
Administration, Operations Support Group, Western Service Center, 1601
Lind Avenue SW., Renton, WA 98057; telephone<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Authority for This Rulemaking

    The FAA's authority to issue rules regarding aviation safety is
found in Title 49 of the United States Code. Subtitle I, Section 106
describes the authority of the FAA Administrator. Subtitle VII,
Aviation Programs, describes in more detail the scope of the agency's
authority. This rulemaking is promulgated under the authority described
in Subtitle VII, Part A, Subpart I, Section 40103. Under that section,
the FAA is charged with prescribing regulations to assign the use of
airspace necessary to ensure the safety of aircraft and the efficient
use of airspace. This regulation is within the scope of that authority
as it would remove Class D airspace at Pearson Field Airport,
Vancouver, WA.

History

    On January 26, 2016, the FAA published in the Federal Register a
notice of proposed rulemaking (NPRM) to remove Class D airspace at
Vancouver, WA (81 FR 4220) Docket No. FAA-2015-4133. Interested parties
were invited to participate in this rulemaking effort by submitting
written comments on the proposal to the FAA. Ten comments were
received; nine from individuals and one from the Aircraft Owners and
Pilots Association.
    All expressed concern with the revocation of the Class D airspace
prior to establishment of the Special Flight Rules Area (SFRA), Docket
No. FAA-2015-3980. The FAA concurs with their expressed concerns and is
making the Special Flight Rules Area effective concurrently with the
removal of the Class D airspace.
    All commenters were concerned with the SFRA being published without
containing specific language requested during a Safety Risk Management
Panel in 2012 and comments received on the Notice of Proposed
Rulemaking for the SFRA Docket. The FAA addresses those comments in the
Final Rule for that action, published elsewhere in this issue of the
Federal Register.
    Class D airspace designations are published in paragraph 5000 of
FAA Order 7400.9Z, dated August 6, 2015, and effective September 15,
2015, which is incorporated by reference in 14 CFR part 71.1. The Class
E airspace designation listed in this document will be published
subsequently in the Order.

Availability and Summary of Documents for Incorporation by Reference

    This document amends FAA Order 7400.9Z, Airspace Designations and
Reporting Points, dated August 6, 2015, and effective September 15,
2015. FAA Order 7400.9Z is publicly available as listed in the
ADDRESSES section of this document. FAA Order 7400.9Z lists Class A, B,
C, D, and E airspace areas, air traffic service routes, and reporting
points.

The Rule

    This amendment to Title 14, Code of Federal Regulations (14 CFR)
part 71 removes Class D airspace at Vancouver, WA. FAA Joint Order
7400.2K states that non-towered airports requiring a surface area, the
airspace will be designated Class E. There is no operating control
tower at Pearson Field Airport, Vancouver, WA, which removes the
necessity for the Class D airspace area.

Regulatory Notices and Analyses

    The FAA has determined that this regulation only involves an
established body of technical regulations for which frequent and
routine amendments are necessary to keep them operationally current, is
non-controversial and unlikely to result in adverse or negative
comments. It, therefore: (1) Is not a ``significant regulatory action''
under Executive Order 12866; (2) is not a ``significant rule'' under
DOT Regulatory Policies and Procedures (44 FR 11034; February 26,
1979); and (3) does not warrant preparation of a Regulatory Evaluation
as the anticipated impact is so minimal. Since this is a routine matter
that only affects air traffic procedures and air navigation, it is
certified that this rule, when promulgated, does not have a significant
economic impact on a substantial number of small entities under the
criteria of the Regulatory Flexibility Act.

Environmental Review

    The FAA has determined that this action qualifies for categorical
exclusion under the National Environmental Policy Act in accordance
with FAA Order 1050.1F, ``Environmental Impacts: Policies and
Procedures,'' paragraph 5-6.5a. This airspace action is not expected to
cause any potentially significant environmental impacts, and no
extraordinary circumstances exist that warrant preparation of an
environmental assessment.

Lists of Subjects in 14 CFR Part 71

    Airspace, Incorporation by reference, Navigation (air).

Adoption of the Amendment

    In consideration of the foregoing, the Federal Aviation
Administration amends 14 CFR part 71 as follows:

PART 71--DESIGNATION OF CLASS A, B, C, D, AND E AIRSPACE AREAS; AIR
TRAFFIC SERVICE ROUTES; AND REPORTING POINTS

0
1. The authority citation for part 71 continues to read as follows:

    Authority: 49 U.S.C. 106(f), 106(g); 40103, 40113, 40120; E.O.
10854, 24 FR 9565, 3 CFR, 1959-1963 Comp., p. 389.

Sec.  71.1  [Amended]

0
 2. The incorporation by reference in 14 CFR 71.1 of FAA Order 7400.9Z,
Airspace Designations and Reporting Points, dated August 6, 2015, and
effective September 15, 2015, is amended as follows:

Paragraph 5000 Class D Airspace.

* * * * *

ANM OR D Vancouver, WA [Removed]

    Issued in Seattle, Washington, on August 26, 2016.
Tracey Johnson,
Manager, Operations Support Group, Western Service Center.
[FR Doc. 2016-21373 Filed 9-9-16; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register: March 24, 2009 (Volume 74, Number 55)]
[Notices]
[Page 12417-12420]
[DOCID:fr24mr09-138]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-59592; File No. SR-NYSE-2009-29]

Self-Regulatory Organizations; Notice of Filing and Immediate
Effectiveness of Proposed Rule Change by New York Stock Exchange LLC
Amending the NYSE Rule Book To Delete References to Specific Exchange
Systems and To Remove the Requirement That Opening Transactions Receive
Specific Designations Pursuant to NYSE Rules 79A and 115A

March 17, 2009.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the

``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given that,
on March 13, 2009, New York Stock Exchange LLC (``NYSE'' or the
``Exchange'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I and
II, below, which Items have been prepared by the self-regulatory
organization. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C.78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to amend the NYSE Rule Book to delete
references to specific Exchange systems and to remove the requirement
that opening transactions receive specific designations pursuant to
NYSE Rules 79A and 115A.

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 self-regulatory organization
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 those 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 parts of such statements.

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

1. Purpose
    Through this filing, the Exchange proposes to amend its rule book
to delete references to specific Exchange systems. The Exchange seeks
to replace references to ``DOT'', ``SuperDot'', ``Limit Order System''
and ``Opening Automated Report Service'' (``OARS'') with ``Exchange
systems''. In addition, the Exchange seeks to remove the requirement
that certain opening transactions be designated ``OPD'', ``OPN''
pursuant to NYSE Rule 79A (Miscellaneous Requirements on Stock Market
Procedures) and Rule 115A (Orders at Opening or in Unusual
Situations).\4\
---------------------------------------------------------------------------

    \4\ The Exchange notes that a companion filing is being made by
NYSE Alternext LLC to amend similar rules of that self-regulatory
organization. See SR-NYSE Alternext-2009-28 (to be filed March 13,
2009).
---------------------------------------------------------------------------

Background

Exchange Systems

    On March 1, 1976, the Exchange commenced the operation of its
Designated Order Turnaround (``DOT'') system. It was re-designated
``SuperDot'' (or sometimes cited as ``SuperDOT'') in 1984. Today,
SuperDot[supreg] is an electronic order-routing system used by NYSE
member organizations to send market and limit orders directly to the
trading post where the security is traded. The system provides members
and member organizations the ability to enter and manage their order
flow on the Exchange electronically. After the orders have been
executed, SuperDot uses the same electronic circuit to send post-trade
reports back to member firms.
    At one time, the Exchange's Limit Order System electronically filed
orders to be executed when and if the specific limit price of an order
is reached and electronically updates the Display Book. Good 'til
Cancelled orders not executed on the day of submission are
automatically stored in this system until executed or cancelled.
    When first introduced in 1980,\5\ OARS was designed to facilitate
more efficient and accurate processing of orders received by the
Exchange prior to the opening, a critical point in the trading day. It
provided automation of certain clerical functions carried out at the
trading post, issued reports on executions and substantially reduced
the number of potential unmatched trades since processing was done
electronically.
---------------------------------------------------------------------------

    \5\ See Securities Exchange Act Release No. 16649 (March 13,
1980) 45 FR 18541 approving SR-NYSE-80-09 and Securities Exchange
Act Release No. 17132 (September 8, 1980) 45 FR 60526 (September 12,
1980), approving SR-NYSE-80-25.
---------------------------------------------------------------------------

    OARS accepts member organizations' pre-opening market orders for
execution at the opening. OARS automatically pairs buy and sell orders
and presents the imbalance to the DMM up to the time of the opening to
assist the DMM in determining the opening price. Once that price is
determined and transmitted by the DMM, the OARS system assigns the
price to the orders it holds and issues reports back to the entering
firms and brokers immediately.

Opening Report ``OPD'' Opened Designation

    NYSE Rule 79A.20 requires a Designated Market Maker to obtain prior
Floor Official approval if a security is going to open at one or more
dollars away from the closing price at the Exchange when the closing
price was under $20 a share, or two dollars or more away from the
closing price at the Exchange when the closing price was $20 per share
or more. Under (c) of Rule 79A.20, when such a transaction is an
opening trade, the symbol ``OPD'', which means opened, will appear next
to the transaction when published to the Consolidated Tape.
    The ``OPD'' designation traces back to when executions were
manually entered to be reported to the Consolidated Tape. The ``OPD''
designation served two functions. First, because getting Floor Official
approval required time, securities that were opening at one or more
dollars away from the closing price usually had delayed openings. The
``OPD'' designation provided notice that the stock had in fact
commenced trading. In addition, ``OPD'' provided a validation to the
individual charged with manually entering the opening transaction
information that the price associated with the opening transaction
being reported was valid as the transaction would be a dollar or more
away from the closing price.
    NYSE Rule 115A.30 provides that orders stored in OARS will receive
``OPN'' or ``such other universal contra as the Exchange may
designate'' to identify that the trade took place in Exchange systems
at the opening. ``OPN'' is used as an omnibus account designation to
identify market orders executed through OARS to the member or member
organization receiving the report of execution of the trade.

Proposed Amendments

Exchange Systems

    The Exchange is enhancing its systems to create a strong platform
for technological growth that offers its customers the most
comprehensive set of trading technology solutions to meet their needs
and expectations. In order to attain this goal, the Exchange is
continually upgrading its systems that accept, manage and report
orders. In this process, legacy systems that once performed the
functions governed by certain NYSE Rules may be upgraded or replaced in
their entirety. In order to keep pace with the enhancements to its
technology, the Exchange seeks to replace references to specific
systems that perform a function and replace it with the phrase
``Exchange systems''.
    The Exchange therefore proposes to amend NYSE Rules 123C (Market on
The Close Policy And Expiration Procedures), 123D (Openings and Halts
in Trading), 130 (Overnight Comparison of Exchange Transactions) and
132B (Order Tracking Requirements) to replace any references to
``Designated

Order Turnaround'', ``Limit Order System'', ``DOT'', ``SuperDot'' or
``SuperDOT'' with ``Exchange systems''.
    The OARS system functioning will be carried out through similar
functioning in the Display Book[supreg],\6\ and as a result, there will
no longer be a separate system for processing openings. As a result,
the Exchange seeks to remove the references to ``Opening Automated
Report Service'' from .30 in the Supplementary Material to Rule 91
(Taking or Supplying Securities Named in Order), from various
references in .30 of Rule 115A (Orders at Opening or in Unusual
Situations) and in .10 under Supplementary Material to Rule 134
(Differences and Omissions--Cleared Transactions). The Exchange seeks
to insert the phrase ``Exchange systems'' in Rules 91.10, 115A.30 and
134 to replace the references to the ``Opening Automated Report
Service'' or ``the Service''. In addition, the Exchange proposes to
substitute the phrase ``securities on the Exchange'' and similar
wording to replace the phrase ``designated stock'', ``designated
stocks'' or ``stocks''. In practice, the instant rules apply to all
instruments traded on the Exchange, which include structured products
such as capital trusts and warrants. As such, the broader term
``securities'' more accurately reflects the types of instruments traded
on the Exchange than the narrower term ``stock''. Finally, the Exchange
proposes to remove the specific references to ``OPN and OARS'' as
contras in Rule 115A and proposes to add language to the Rule to
indicate that the designation by the Exchange of universal contras for
orders stored in Exchange systems will not be deemed inconsistent with
Exchange Rules 121.10 and 138. Both these rules allow that a substitute
name may be used with respect to trade reports and the use of universal
contras designated by the Exchange is deemed consistent with those
requirements.
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    \6\ Display Book[supreg] is an order management and execution
facility that receives and displays orders to the DMM and provides a
mechanism to execute and report transactions and publish the results
to the Consolidated Tape. In addition, the Display Book is connected
to a variety of other Exchange systems for the purposes of
comparison, surveillance, and reporting information to customers and
other market data and national market systems.
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``OPD'' and ``OPN'' Designations

    These enhancements to Exchange systems have also negated the need
for the ``OPD'' and ``OPN'' designations. Currently Exchange systems
process orders, allocate the executed shares to the various
participants, and publish reports of executions automatically. Given
this change from how interest was processed in the manual environment,
``OPD'' no longer serves the purpose of validating the transaction
price and is therefore no longer necessary, as the opening price is
systemically validated. As such, the Exchange seeks through this filing
to eliminate the requirement pursuant to Rule 79A.20(c) that opening
transactions at one or more dollars away from the closing price ``be
accompanied when published on tape by the symbol `OPD' ''. In addition,
as explained above, the Exchange also seeks to remove the reference to
``OPN'' in Rule 115A since, with the transference of the functions of
OARS to the NYSE Display Book, the universal contra of ``OPN'' will no
longer be used.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with the requirement under Section 6(b)(5) \7\ of the Act that an
Exchange have rules that are designed to promote just and equitable
principles of trade, to remove impediments to and perfect the mechanism
of a free and open market and national market system, and, in general,
to protect investors and the public interest. The Exchange believes
that the rescission of the references to outdated systems and processes
promotes just and equitable principles of trade and protects investors
and the public interest because it allows the Exchange to upgrade its
systems in a timely manner thus providing customers the most
comprehensive and all-encompassing set of trading technology solutions
and mechanisms for efficient executions.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78f(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act.

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

    No written comments were solicited or received with respect to the
proposed rule change.

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

    Because the foregoing proposed rule change: (1) Does not
significantly affect the protection of investors or the public
interest; (2) does not impose any significant burden on competition;
and (3) by its terms, does not become operative for 30 days after the
date of filing, or such shorter time as the Commission may designate if
consistent with the protection of investors and the public interest,
the proposed rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \8\ and Rule 19b-4(f)(6) thereunder.\9\
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    \8\ 15 U.S.C. 78s(b)(3)(A).
    \9\ 17 CFR 240.19b-4(f)(6).
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    A proposed rule change filed under Rule 19b-4(f)(6) normally does
not become operative for 30 days after the date of filing.\10\ However,
Rule 19b-4(f)(6)(iii) permits the Commission to designate a shorter
time if such action is consistent with the protection of investors and
the public interest. The Exchange requested that the Commission waive
the 30-day operative delay.
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    \10\ 17 CFR 240.19b-4(f)(6)(iii). In addition, Rule 19b-
4(f)(6)(iii) requires the self-regulatory organization to give the
Commission notice of its intent to file the proposed rule change,
along with a brief description and text of the proposed rule change,
at least five business days prior to the date of filing of the
proposed rule change, or such shorter time as designated by the
Commission. NYSE has satisfied this requirement.
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    The Commission believes that waiving the 30-day operative delay is
consistent with the protection of investors and the public interest. By
waiving the operative delay, the proposed rule change may take effect
on or about March 16, 2009, when the Exchange expects to install these
technological changes. A waiver of the 30-day operative delay will also
allow timely removal of outdated language in Exchange rules and avoid
any potential confusion, and it will ensure that Exchange rule text is
more accurate. For these reasons, the Commission designates the
proposed rule change as operative upon filing.\11\
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    \11\ For purposes only of waiving the 30-day operative delay,
the Commission has also considered the proposed rule's effect on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule
change, the Commission may summarily abrogate such rule change if it
appears to the Commission that such action is necessary or appropriate
in the public interest, for the protection of investors, or otherwise
in furtherance of the purposes of the Act.\12\
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    \12\ 15 U.S.C. 78s(b)(3)(C).
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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 e-mail to<EMAIL_ADDRESS>Please include
File Number SR-NYSE-2009-29 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-NYSE-2009-29. This file
number should be included on the subject line if e-mail is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/
sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for inspection and
copying in the Commission's Public Reference Room, 100 F Street, NE.,
Washington, DC 20549, on official business days between the hours of 10
a.m. and 3 p.m. Copies of the filing will also be available for
inspection and copying at the principal office of the self-regulatory
organization. All comments received will be posted without change; the
Commission does not edit personal identifying information from
submissions. You should submit only information that you wish to make
available publicly. All submissions should refer to File Number SR-
NYSE-2009-29 and should be submitted on or before April 14, 2009.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\13\
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    \13\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-6354 Filed 3-23-09; 8:45 am]

BILLING CODE 8010-01-P


[Federal Register Volume 85, Number 232 (Wednesday, December 2, 2020)]
[Notices]
[Pages 77477-77478]
[FR Doc No: 2020-26590]

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SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Release No. 34123]

Notice of Applications for Deregistration Under Section 8(f) of
the Investment Company Act of 1940

November 27, 2020.
    The following is a notice of applications for deregistration under
section 8(f) of the Investment Company Act of 1940 for the month of
November 2020. A copy of each application may be obtained via the
Commission's website by searching for the file number, or for an
applicant using the Company name box, at http://www.sec.gov/search/search.htm or by calling<PHONE_NUMBER>. An order granting each
application will be issued unless the SEC orders a hearing. Interested
persons may request a hearing on any application by emailing the SEC's
Secretary at<EMAIL_ADDRESS>and serving the relevant
applicant with a copy of the request by email, if an email address is
listed for the relevant applicant below, or personally or by mail, if a
physical address is listed for the relevant applicant below. Hearing
requests should be received by the SEC by 5:30 p.m. on December 22,
2020, and should be accompanied by proof of service on applicants, in
the form of an affidavit or, for lawyers, a certificate of service.
Pursuant to Rule 0-5 under the Act, hearing requests should state the
nature of the writer's interest, any facts bearing upon the
desirability of a hearing on the matter, the reason for the request,
and the issues contested. Persons who wish to be notified of a hearing
may request notification by writing to the Commission's Secretary at
<EMAIL_ADDRESS>
ADDRESSES:  The Commission<EMAIL_ADDRESS>
FOR FURTHER INFORMATION CONTACT: Shawn Davis, Assistant Director, at
(202) 551-6413 or Chief Counsel's Office at<PHONE_NUMBER>; SEC,
Division of Investment Management, Chief Counsel's Office, 100 F Street
NE, Washington, DC 20549-8010.

AIP Macro Registered Fund P [File No. 811-22683]

    Summary: Applicant, a closed-end investment company, seeks an order
declaring that it has ceased to be an investment company. On May 17,
2019, August 28, 2019, December 20, 2019, April 2, 2020, and July1,
2020, applicant made liquidating distributions to its shareholders
based on net asset value. Expenses of $44,500 incurred in connection
with the liquidation were paid by the applicant. Applicant also has
retained approximately $26,000 for the purpose of paying outstanding
liabilities.
    Filing Date: The application was filed on August 14, 2020.
    Applicant's Address<EMAIL_ADDRESS>
Asia Pacific Fund, Inc. [File No. 811-04710]

    Summary: Applicant, a closed-end investment company, seeks an order
declaring that it has ceased to be an investment company. On January
31, 2019, applicant made liquidating distributions to its shareholders
based on net asset value. Expenses of $296,572 incurred in connection
with the liquidation were paid by the applicant. Applicant also has
retained approximately $10,792 for the purpose of paying final accrued
liabilities.
    Filing Dates: The application was filed on December 20, 2019 and
amended on November 13, 2020.
    Applicant's Address<EMAIL_ADDRESS>
Bread & Butter Fund Inc. [File No. 811-21748]

    Summary: Applicant seeks an order declaring that it has ceased to
be an investment company. On July 31, 2020, applicant made liquidating
distributions to its shareholders based on net asset value. Expenses of
$1,852 incurred in connection with the liquidation were paid by the
applicant's investment adviser.
    Filing Dates: The application was filed on August 28, 2020, and
amended on October 23, 2020.
    Applicant's Address<EMAIL_ADDRESS>
CC Real Estate Income Master Fund [File No. 811-23134]

    Summary: Applicant, a closed-end investment company, seeks an order
declaring that it has ceased to be an investment company. On August 3,
2020, applicant made liquidating distributions to its shareholders
based on net asset value. Expenses of $27,816 incurred in connection
with the liquidation were paid by the applicant. Applicant also has
retained $125,386 for the purpose of paying outstanding obligations.
    Filing Date: The application was filed on August 18, 2020.
    Applicant's Address<EMAIL_ADDRESS>
Eagle Growth and Income Opportunities Fund [File No. 811-22839]

    Summary: Applicant, a closed-end investment company, seeks an order
declaring that it has ceased to be an investment company. On August 3,
2020; August 24, 2020; and November 20, 2020, applicant made
liquidating distributions to its shareholders based on net asset value.
Expenses of $1,791,596 incurred in connection with the liquidation were
paid by the applicant. Applicant also has retained $1,658,038 for the
purpose of paying outstanding obligations. Applicant has agreed to the
following condition to deregistration under the Act:

    None of the fund's current or prior investment advisers or any of
their respective ``affiliated persons'' (as defined in the Investment
Company Act of 1940, as amended) will receive any fee or other payment,
directly or indirectly, from the remaining assets; provided, however,
that pro rata distributions by the fund to its shareholders shall be
permissible.
    Filing Date: The application was filed on November 23, 2020.
    Applicant's Address<EMAIL_ADDRESS>
Goldman Sachs MLP Income Opportunities Fund [File No. 811-22856]

    Summary: Applicant, a closed-end investment company, seeks an order
declaring that it has ceased to be an investment company. The applicant
has transferred its assets to Goldman Sachs MLP and Energy Renaissance
Fund, and on September 28, 2020 made a final distribution to its
shareholders based on net asset value. Expenses of $365,820.16 incurred
in connection with the reorganization were paid by the applicant.
    Filing Date: The application was filed on October 30, 2020.
    Applicant's Address<EMAIL_ADDRESS>
Nuveen Texas Quality Municipal Income Fund [File No. 811-06384]

    Summary: Applicant, a closed-end investment company, seeks an order
declaring that it has ceased to be an investment company. The applicant
has transferred its assets to Nuveen Quality Municipal Income Fund, and
on March 2, 2020 made a final distribution to its shareholders based on
net asset value. Expenses of $476,085 incurred in connection with the
reorganization were paid by the applicant.
    Filing Date: The application was filed on October 9, 2020.
    Applicant's Address<EMAIL_ADDRESS>
    For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-26590 Filed 12-1-20; 8:45 am]
BILLING CODE 8011-01-P