[Federal Register Volume 85, Number 105 (Monday, June 1, 2020)]
[Proposed Rules]
[Pages 33049-33052]
[FR Doc No: 2020-11494]

=======================================================================
-----------------------------------------------------------------------

ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 52

[EPA-R07-OAR-2020-0256; FRL-10009-96-Region 7]

Air Plan Approval; Missouri; Restriction of Emission of Lead From
Specific Lead Smelter-Refinery Installations

AGENCY: Environmental Protection Agency (EPA).

ACTION: Proposed rule.

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

SUMMARY: The Environmental Protection Agency (EPA) is proposing
approval of a State Implementation Plan (SIP) revision submitted by
Missouri on February 5, 2019. Missouri requests that EPA revise its
approved plan which restricts emission of lead from specific lead
smelter-refinery installations. The revisions remove emission
restrictions for a facility that is no longer operating, update a
reference to the Federal National Emissions Standard for Hazardous Air
Pollutants (NESHAP) for secondary lead smelters, and update
incorporation by reference to testing methods. Minor editorial
revisions have also been made for clarity. The EPA's

proposed approval of this rule revision is being done in accordance
with the requirements of the Clean Air Act (CAA).

DATES: Comments must be received on or before July 1, 2020.

ADDRESSES: You may send comments, identified by Docket ID No. EPA-R07-
OAR-2020-0256 to https://www.regulations.gov. Follow the online
instructions for submitting comments.
    Instructions: All submissions received must include the Docket ID
No. for this rulemaking. Comments received will be posted without
change to https://www.regulations.gov/, including any personal
information provided. For detailed instructions on sending comments and
additional information on the rulemaking process, see the ``Written
Comments'' heading of the SUPPLEMENTARY INFORMATION section of this
document.

FOR FURTHER INFORMATION CONTACT: Stephanie Doolan, Environmental
Protection Agency, Region 7 Office, Air Quality Planning Branch, 11201
Renner Boulevard, Lenexa, Kansas 66219; telephone number (913) 551-
7719; email address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: Throughout this document ``we,'' ``us,'' and
``our'' refer to the EPA.

Table of Contents

I. Written Comments
II. What is being addressed in this document?
III. Have the requirements for approval of a SIP revision been met?
IV. What action is the EPA taking?
V. Incorporation by Reference
VI. Statutory and Executive Order Reviews

I. Written Comments

    Submit your comments, identified by Docket ID No. EPA-R07-OAR-2020-
0256, at https://www.regulations.gov. Once submitted, comments cannot
be edited or removed from Regulations.gov. The EPA may publish any
comment received to its public docket. Do not submit electronically any
information you consider to be Confidential Business Information (CBI)
or other information whose disclosure is restricted by statute.
Multimedia submissions (audio, video, etc.) must be accompanied by a
written comment. The written comment is considered the official comment
and should include discussion of all points you wish to make. The EPA
will generally not consider comments or comment contents located
outside of the primary submission (i.e. on the web, cloud, or other
file sharing system). For additional submission methods, the full EPA
public comment policy, information about CBI or multimedia submissions,
and general guidance on making effective comments, please visit https://www.epa.gov/dockets/commenting-epa-dockets.

II. What is being addressed in this document?

    The EPA is proposing to approve revisions to 10 Code of State
Regulation (CSR) 10-6.120, Restriction of Emission of Lead From
Specific Lead Smelter-Refinery Installations, in the
    Missouri SIP. The EPA received the Missouri Department of Natural
Resources' (MoDNR) SIP revision submission on February 15, 2019. The
revisions are described in detail in the technical support document
(TSD) included in the docket for this action. The Environmental
Protection Agency (EPA) is proposing to approve revisions to the
Missouri State Implementation Plan (SIP).
    The revisions to 10 CSR 10-6.120 eliminate restrictions for a
facility that is no longer operational as a primary lead smelter,
update the reference to the National Emissions Standards for Hazardous
Air Pollutants (NESHAP), Subpart X, update the incorporation by
reference information, and make editorial changes to the rule for
clarity. The EPA believes that these revisions do not impact the
stringency of the Missouri SIP and do not adversely impact air quality.
    A list of the revisions Missouri made to 10 CSR 10-6.120 are as
follows:
     The reference in paragraph (3), General Provisions, to the
Herculaneum primary lead smelter and corresponding Table 1 which
formerly contained lead emission limits has been removed because the
Herculaneum facility no longer operating as a primary lead smelter. The
Herculaneum area is a nonattainment area for the 2008 Lead National
Ambient Air Quality Standard (NAAQS) and thus has an approved plan to
bring the area back into attainment of the standard. See 79 FR 62572,
October 20, 2014. The lead emissions limits in the approved attainment
demonstration SIP are more stringent than those in table 1; thus, EPA
did not approve table 1 of the General Provisions in its August 28,
2015, action. See 80 FR 52190. Missouri's removal of the emissions
limitations from its State rule does not affect the enforceability of
the attainment SIP and the controls required to meet the NAAQS.
     Paragraph (5), Test Methods, has also been revised to
incorporate the Secondary Lead Smelter NESHAP by reference, as well as,
reference specific EPA test methods described in Missouri's rule 10 CSR
10-6.030(22).

As discussed above a detailed description of Missouri's revision and
EPA analysis of the impact to air quality have provided in the TSD
which is part of the docket for this action.
    The revisions to this state regulation were placed on public notice
for review and comment from June 29 through October 4, 2018. Missouri
received three comments from two sources during the comment period: EPA
provided two comments and Doe Run Resource Recycling Facility provided
one comment on the rule revisions. Missouri responded to all three
comments, as noted in the State submission included in the docket for
this action. Missouri responded to all three comments in its Order of
Rulemaking dated January 2, 2019. The three comments Missouri received
were:
     EPA commented on paragraph (5) of the proposed rule
revision that the SIP revision request for subsection 10 CSR 10-6.030
(22), upon which the revisions regarding test methods in 10 CSR 10-
6.120 relies, had not yet been approved. Since EPA submitted its
comment, the Missouri SIP has been approved as a separate action to
incorporate the revisions to 10 CSR 10-6.030. See 85 FR 4229, January
24, 2020.
     EPA also commented on the revisions to paragraph (5)
encouraging MoDNR to reference 40 CFR part 60, appendix A, rather that
adding references to 10 CSR 10-6.030(22) in subsections 5(B) and 5(C).
MoDNR did not amend the rule text in response to this comment.
Missouri's reliance on test methods incorporated by reference in 10 CSR
10-6.030(22) does not affect the stringency of the rule and remains
protective of air quality.
     Doe Run Buick Resource Recycling Division submitted one
comment to Missouri stating that it believes the correct lead emission
limit to be 0.00043 gr/dscf. MoDNR's response was to remove the
reference to the specific numerical standard and to emphasize that Doe
Run is still required to meet the Secondary Lead Smelter NESHAP,
subpart X, which is incorporated in 10 CSR 10-6.075 as well. See 79 FR
371, June 10, 2014.

Missouri made editorial text revisions detailed in EPA's TSD for
clarity which do not have an impact to air quality.
    Based on a detailed analysis in its TSD of the revisions to the
state rule that are listed above, EPA is proposing to approve the
revisions to this rule because it promotes clarity by removing no
longer needed emission limits for the former Herculaneum primary lead

smelter refinery and will not have a negative impact on air quality.

III. Have the requirements for approval of a SIP revision been met?

    The State submission has met the public notice requirements for SIP
submissions in accordance with 40 CFR 51.102. The submission also
satisfied the completeness criteria of 40 CFR part 51, appendix V. The
State placed this rule revision on public notice from June 29 through
October 4, 2008. MoDNR responded to all three comments received. As
explained above, the revision meets the substantive SIP requirements of
the CAA, including section 110 and implementing regulations.

IV. What action is the EPA taking?

    The EPA is proposing to approve Missouri's request to revise 10 CSR
10-6.120. We are processing this as a proposed SIP revision because we
are soliciting comments on it. Final rulemaking will occur after
consideration of any comments received. The EPA is soliciting comment
on the substantive and administrative revisions detailed in this
document and in the TSD. EPA is not soliciting comment on existing rule
text that has been previously approved by EPA into the SIP.

V. Incorporation by Reference

    In this document, the EPA is proposing to include regulatory text
in an EPA final rule that includes incorporation by reference. In
accordance with requirements of 1 CFR 51.5, the EPA is proposing to
incorporate by reference the Missouri Regulations described in the
proposed amendments to 40 CFR part 52 set forth below. The EPA has
made, and will continue to make, these materials generally available
through www.regulations.gov and at the EPA Region 7 Office (please
contact the person identified in the FOR FURTHER INFORMATION CONTACT
section of this preamble for more information).

VI. Statutory and Executive Order Reviews

    Under the CAA, the Administrator is required to approve a SIP
submission that complies with the provisions of the Act and applicable
Federal regulations. 42 U.S.C. 7410(k); 40 CFR 52.02(a). Thus, in
reviewing SIP submissions, the EPA's role is to approve state choices,
provided that they meet the criteria of the CAA. Accordingly, this
action merely approves state law as meeting Federal requirements and
does not impose additional requirements beyond those imposed by state
law. For that reason, this action:
     Is not a significant regulatory action subject to review
by the Office of Management and Budget under Executive Orders 12866 (58
FR 51735, October 4, 1993) and 13563 (76 FR 3821, January 21, 2011);
     Is not an Executive Order 13771 (82 FR 9339, February 2,
2017) regulatory action because SIP approvals are exempted under
Executive Order 12866.
     Does not impose an information collection burden under the
provisions of the Paperwork Reduction Act (44 U.S.C. 3501 et seq.);
     Is certified as not having a significant economic impact
on a substantial number of small entities under the Regulatory
Flexibility Act (5 U.S.C. 601 et seq.);
     Does not contain any unfunded mandate or significantly or
uniquely affect small governments, as described in the Unfunded
Mandates Reform Act of 1995 (Pub. L. 104-4);
     Does not have Federalism implications as specified in
Executive Order 13132 (64 FR 43255, August 10, 1999);
     Is not an economically significant regulatory action based
on health or safety risks subject to Executive Order 13045 (62 FR
19885, April 23, 1997);
     Is not a significant regulatory action subject to
Executive Order 13211 (66 FR 28355, May 22, 2001);
     Is not subject to requirements of the National Technology
Transfer and Advancement Act (NTTA) because this rulemaking does not
involve technical standards; and
     Does not provide EPA with the discretionary authority to
address, as appropriate, disproportionate human health or environmental
effects, using practicable and legally permissible methods, under
Executive Order 12898 (59 FR 7629, February 16, 1994).
    The SIP is not approved to apply on any Indian reservation land or
in any other area where EPA or an Indian tribe has demonstrated that a
tribe has jurisdiction. In those areas of Indian country, the rule does
not have tribal implications and will not impose substantial direct
costs on tribal governments or preempt tribal law as specified by
Executive Order 13175 (65 FR 67249, November 9, 2000).

List of Subjects in 40 CFR Part 52

    Environmental protection, Air pollution control, Incorporation by
reference, Lead, Reporting and recordkeeping requirements, Test
methods.

    Dated: May 21, 2020.
James Gulliford,
Regional Administrator, Region 7.

    For the reasons stated in the preamble, the EPA proposes to amend
40 CFR part 52 as set forth below:

PART 52--APPROVAL AND PROMULGATION OF IMPLEMENTATION PLANS

0
1. The authority citation for part 52 continues to read as follows:

    Authority: 42 U.S.C. 7401 et seq.

Subpart-AA--Missouri

0
2. In Sec.  52.1320, the table in paragraph (c) is amended by revising
the entry ``10-6.120'' to read as follows:

Sec.  52.1320  Identification of plan.

* * * * *
    (c) * * *

                                        EPA-Approved Missouri Regulations
----------------------------------------------------------------------------------------------------------------
                                                        State
     Missouri citation               Title            effective      EPA approval date          Explanation
                                                         date
----------------------------------------------------------------------------------------------------------------
                                    Missouri Department of Natural Resources
----------------------------------------------------------------------------------------------------------------

                                                  * * * * * * *
----------------------------------------------------------------------------------------------------------------
    Chapter 6--Air Quality Standards, Definitions, Sampling and Reference Methods, and Air Pollution Control
                                      Regulations for the State of Missouri
----------------------------------------------------------------------------------------------------------------

                                                  * * * * * * *
10-6.120..................  Restriction of              10/25/18  [Date of publication
                             Emissions of Lead from                of the final rule in
                             Specific Lead Smelter-                the Federal
                             Refinery Installations.               Register], [Federal
                                                                   Register citation of
                                                                   the final rule].

                                                  * * * * * * *
----------------------------------------------------------------------------------------------------------------

* * * * *
[FR Doc. 2020-11494 Filed 5-29-20; 8:45 am]
BILLING CODE 6560-50-P


chapter), General Instruction C.3.(h) of Form N-6 (Sec. Sec.  239.17c
and 274.11d of this chapter), General Instruction 2.(l) of Form N-8B-2
(Sec.  274.12 of this chapter), General Instruction 5 of Form S-6
(Sec.  239.16 of this chapter), or General Instruction C.4 of Form N-
CSR (Sec. Sec.  249.331 and 274.128 of this chapter), as applicable;
    (3) Be submitted using Inline XBRL:
    (i) If the electronic filer is not a management investment company
registered under the Investment Company Act of 1940 (15 U.S.C. 80a et
seq.), a separate account as defined in Section 2(a)(14) of the
Securities Act (15 U.S.C. 77b(a)(14)) registered under the Investment
Company Act of 1940, a business development company as defined in
Section 2(a)(48) of the Investment Company Act of 1940 (15 U.S.C. 80a-
2(a)(48)), or a unit investment trust as defined in Section 4(2) of the
Investment Company Act of 1940 (15 U.S.C. 80a-4), and is not within one
of the categories specified in paragraph (f)(1)(i) of this section, as
partly embedded into a filing with the remainder simultaneously
submitted as an exhibit to:
* * * * *
    (ii) If the electronic filer is a management investment company
registered under the Investment Company Act of 1940 (15 U.S.C. 80a et
seq.), a separate account (as defined in Section 2(a)(14) of the
Securities Act (15 U.S.C. 77b(a)(14)) registered under the Investment
Company Act of 1940, a business development company as defined in
Section 2(a)(48) of the Investment Company Act of 1940 (15 U.S.C. 80a-
2(a)(48)), or a unit investment trust as defined in Section 4(2) of the
Investment Company Act of 1940 (15 U.S.C. 80a-4) and is not within one
of the categories specified in paragraph (f)(1)(ii) of this section, as
partly embedded into a filing with the remainder simultaneously
submitted as an exhibit to a filing that contains the disclosure this
section requires to be tagged; and
    (4) Be submitted in accordance with the EDGAR Filer Manual and, as
applicable, either Item 601(b)(101) of Regulation S-K (Sec.
229.601(b)(101) of this chapter), paragraph (101) of Part II--
Information Not Required to be Delivered to Offerees or Purchasers of
Form F-10 (Sec.  239.40 of this chapter), paragraph 101 of the
Instructions as to Exhibits of Form 20-F (Sec.  249.220f of this
chapter), paragraph B.(15) of the General Instructions to Form 40-F
(Sec.  249.240f of this chapter), paragraph C.(6) of the General
Instructions to Form 6-K (Sec.  249.306 of this chapter), General
Instruction C.3.(g) of Form N-1A

(Sec. Sec.  239.15A and 274.11A of this chapter), General Instruction I
of Form N-2 (Sec. Sec.  239.14 and 274.11a-1 of this chapter), General
Instruction C.3.(h) of Form N-3 (Sec. Sec.  239.17a and 274.11b of this
chapter), General Instruction C.3.(h) of Form N-4 (Sec. Sec.  239.17b
and 274.11c of this chapter), General Instruction C.3.(h) of Form N-6
(Sec. Sec.  239.17c and 274.11d of this chapter); Instruction 2.(l) of
Form N-8B-2 (Sec.  274.12 of this chapter; General Instruction 5 of
Form S-6 (Sec.  239.16 of this chapter); or General Instruction C.4 of
Form N-CSR (Sec. Sec.  249.331 and 274.128 of this chapter).
    (b) * * *
    (1) If the electronic filer is not a management investment company
registered under the Investment Company Act of 1940 (15 U.S.C. 80a et
seq.), a separate account (as defined in Section 2(a)(14) of the
Securities Act (15 U.S.C. 77b(a)(14)) registered under the Investment
Company Act of 1940, a business development company as defined in
Section 2(a)(48) of the Investment Company Act of 1940 (15 U.S.C. 80a-
2(a)(48)), or a unit investment trust as defined in Section 4(2) of the
Investment Company Act of 1940 (15 U.S.C. 80a-4), an Interactive Data
File must consist of only a complete set of information for all periods
required to be presented in the corresponding data in the Related
Official Filing, no more and no less, from all of the following
categories:
* * * * *
    (2) If the electronic filer is an open-end management investment
company registered under the Investment Company Act of 1940, a separate
account (as defined in section 2(a)(14) of the Securities Act)
registered under the Investment Company Act of 1940 (15 U.S.C. 80a et
seq.), or a unit investment trust as defined in Section 4(2) of the
Investment Company Act of 1940 (15 U.S.C. 80a-4), an Interactive Data
File must consist of only a complete set of information for all periods
required to be presented in the corresponding data in the Related
Official Filing, no more and no less, from the information set forth
in:
    (i) Items 2, 3, 4, and 10(a)(4) of Sec. Sec.  239.15A and 274.11A
of this chapter (Form N-1A);
    (ii) Items 2, 4, 5, 11, 18 and 19 of Sec. Sec.  239.17a and 274.11b
of this chapter (Form N-3);
    (iii) Items 2, 4, 5, 10, and 17 of Sec. Sec.  239.17b and 274.11c
of this chapter (Form N-4); or
    (iv) Items 2, 4, 5, 10, 11, and 18 of Sec. Sec.  239.17c and
274.11d of this chapter (Form N-6); or
    (v) Item 11 of Sec.  274.12 of this chapter (Form N-8B-2),
including to the extent required by Sec.  239.16 of this chapter (Form
S-6); as applicable.
    (3) * * *
    (iii) As applicable, all of the information provided in response to
Items 3.1, 4.3, 8.2.b, 8.2.d, 8.3.a, 8.3.b, 8.5.b, 8.5.c, 8.5.e,
10.1.a-d, 10.2.a-c, 10.2.e, 10.3, and 10.5 of Form N-2 in any
registration statement or post-effective amendment thereto filed on
Form N-2; or any form of prospectus filed pursuant to Sec.  230.424 of
this chapter (Rule 424 under the Securities Act); or, if a Registrant
is filing a registration statement pursuant to General Instruction A.2
of Form N-2, any filing on Form N-CSR, Form 10-K, Form 10-Q, or Form 8-
K to the extent such information appears therein.
* * * * *

    Note 1 to Sec.  232.405: Section 229.601(b)(101) of this chapter
(Item 601(b)(101) of Regulation S-K) specifies the circumstances
under which an Interactive Data File must be submitted and the
circumstances under which it is permitted to be submitted, with
respect to Sec.  239.11 of this chapter (Form S-1), Sec.  239.13 of
this chapter (Form S-3), Sec.  239.25 of this chapter (Form S-4),
Sec.  239.18 of this chapter (Form S-11), Sec.  239.31 of this
chapter (Form F-1), Sec.  239.33 of this chapter (Form F-3), Sec.
239.34 of this chapter (Form F-4), Sec.  249.310 of this chapter
(Form 10-K), Sec.  249.308a of this chapter (Form 10-Q), and Sec.
249.308 of this chapter (Form 8-K). Paragraph (101) of Part II--
Information not Required to be Delivered to Offerees or Purchasers
of Sec.  239.40 of this chapter (Form F-10) specifies the
circumstances under which an Interactive Data File must be submitted
and the circumstances under which it is permitted to be submitted,
with respect to Form F-10. Paragraph 101 of the Instructions as to
Exhibits of Sec.  249.220f of this chapter (Form 20-F) specifies the
circumstances under which an Interactive Data File must be submitted
and the circumstances under which it is permitted to be submitted,
with respect to Form 20-F. Paragraph B.(15) of the General
Instructions to Sec.  249.240f of this chapter (Form 40-F) and
Paragraph C.(6) of the General Instructions to Sec.  249.306 of this
chapter (Form 6-K) specify the circumstances under which an
Interactive Data File must be submitted and the circumstances under
which it is permitted to be submitted, with respect to Sec.
249.240f of this chapter (Form 40-F) and Sec.  249.306 of this
chapter (Form 6-K). Section 229.601(b)(101) (Item 601(b)(101) of
Regulation S-K), paragraph (101) of Part II--Information not
Required to be Delivered to Offerees or Purchasers of Form F-10,
paragraph 101 of the Instructions as to Exhibits of Form 20-F,
paragraph B.(15) of the General Instructions to Form 40-F, and
paragraph C.(6) of the General Instructions to Form 6-K all prohibit
submission of an Interactive Data File by an issuer that prepares
its financial statements in accordance with 17 CFR 210.6-01 through
210.6-10 (Article 6 of Regulation S-X). For an issuer that is a
management investment company or separate account registered under
the Investment Company Act of 1940 (15 U.S.C. 80a et seq.), a
business development company as defined in Section 2(a)(48) of the
Investment Company Act of 1940 (15 U.S.C. 80a-2(a)(48)), or a unit
investment trust as defined in Section 4(2) of the Investment
Company Act of 1940 (15 U.S.C. 80a-4), General Instruction C.3.(g)
of Form N-1A (Sec. Sec.  239.15A and 274.11A of this chapter),
General Instruction I of Form N-2 (Sec. Sec.  239.14 and 274.11a-1
of this chapter), General Instruction C.3.(h) of Form N-3
(Sec. Sec.  239.17a and 274.11b of this chapter), General
Instruction C.3.(h) of Form N-4 (Sec. Sec.  239.17b and 274.11c of
this chapter), General Instruction C.3.(h) of Form N-6 (Sec. Sec.
239.17c and 274.11d of this chapter), General Instruction 2.(l) of
Form N-8B-2 (Sec.  274.12 of this chapter), General Instruction 5 of
Form S-6 (Sec.  239.16 of this chapter), and General Instruction C.4
of Form N-CSR (Sec. Sec.  249.331 and 274.128 of this chapter), as
applicable, specifies the circumstances under which an Interactive
Data File must be submitted.

PART 239 -- FORMS PRESCRIBED UNDER THE SECURITIES ACT OF 1933

0
7. The general authority citation for part 239 continues to read as
follows:

    Authority: 15 U.S.C. 77c, 77f, 77g, 77h, 77j, 77s, 77z-2, 77z-3,
77sss, 78c, 78l, 78m, 78n, 78o(d), 78o-7 note, 78u-5, 78w(a), 78ll,
78mm, 80a-2(a), 80a-3, 80a-8, 80a-9, 80a-10, 80a13, 80a-24, 80a-26,
80a-29, 80a-30, and 80a-37; and sec. 107, Pub. L. 112-106, 126 Stat.
312, unless otherwise noted.
* * * * *
0
8. Amend Form S-6 (referenced in Sec. Sec.  239.16) by adding General
Instruction 5 as follows:

    Note: The text of Form S-6 does not, and these amendments will
not, appear in the Code of Federal Regulations.

Form S-6

* * * * *

Instruction 5. Interactive Data

    (a) An Interactive Data File as defined in rule 11 of Regulation S-
T [17 CFR 232.11] is required to be submitted to the Commission in the
manner provided by rule 405 of Regulation S-T [17 CFR 232.405] for any
registration statement or post-effective amendment thereto on Form S-6
that includes or amends information provided in response to Item 11 of
Form N-8B-2 (as provided pursuant to Instruction 1.(a) of the
Instructions as to the Prospectus of this Form).
    (1) Except as required by paragraph (a)(2), the Interactive Data
File must be submitted as an amendment to the registration statement to
which the Interactive Data File relates. The amendment must be
submitted on or

before the date the registration statement or post-effective amendment
that contains the related information becomes effective.
    (2) In the case of a post-effective amendment to a registration
statement filed pursuant to paragraphs (b)(1)(i), (ii), (v), or (vii)
of rule 485 under the Securities Act [17 CFR 230.485(b)], the
Interactive Data File must be submitted either with the filing, or as
an amendment to the registration statement to which the Interactive
Data Filing relates that is submitted on or before the date the post-
effective amendment that contains the related information becomes
effective. (b) All interactive data must be submitted in accordance
with the specifications in the EDGAR Filer Manual.
* * * * *

PART 270--RULES AND REGULATIONS, INVESTMENT COMPANY ACT OF 1940

0
9. The general authority citation for part 270 continues to read as
follows:

    Authority: 15 U.S.C. 80a-1 et seq., 80a-34(d), 80a-37, 80a-39,
and Pub. L. 111-203, sec. 939A, 124 Stat. 1376 (2010), unless
otherwise noted.
* * * * *
0
10. Section 270.35d-1 is revised to read as follows:

Sec.  270.35d-1   Investment company names.

    (a) Materially deceptive and misleading fund names. For purposes of
section 35(d) of the Act (15 U.S.C. 80a-34(d)), a materially deceptive
and misleading name of a fund includes:
    (1) Names suggesting guarantee or approval by the United States
government. A name suggesting that the fund or the securities issued by
it are guaranteed, sponsored, recommended, or approved by the United
States government or any United States government agency or
instrumentality, including any name that uses the words ``guaranteed''
or ``insured'' or similar terms in conjunction with the words ``United
States'' or ``U.S. government.''
    (2) Names suggesting an investment focus. A name that includes
terms suggesting that the fund focuses its investments in: a particular
type of investment or investments; a particular industry or group of
industries; particular countries or geographic regions; or investments
that have, or whose issuers have, particular characteristics (e.g., a
name with terms such as ``growth'' or ``value,'' or terms indicating
that the fund's investment decisions incorporate one or more ESG
factors), unless:
    (i) The fund has adopted a policy to invest, except under the
circumstances provided in paragraph (b)(1) of this section, at least
80% of the value of its assets in investments in accordance with the
investment focus that the fund's name suggests. For a name suggesting
that the fund focuses its investments in a particular country or
geographic region, investments that are in accordance with the
investment focus that the fund's name suggests are investments that are
tied economically to the particular country or geographic region
suggested by its name;
    (ii) The policy described in paragraph (a)(2)(i) of this section is
a fundamental policy, or the fund has adopted a policy to provide the
fund's shareholders with at least 60 days prior notice of any change in
the policy described in paragraph (a)(2)(i) of this section, and any
change in the fund's name that accompanies the change, that meets the
provisions of paragraph (e) of this section. If the fund is a closed-
end company or business development company, and the fund does not have
shares that are listed on a national securities exchange, the fund's
policy is a fundamental policy; and
    (iii) Any terms used in the fund's name that suggest that the fund
focuses its investments as described in paragraph (a)(2)(i) of this
section are consistent with those terms' plain English meaning or
established industry use.
    (3) Tax-exempt funds. A name suggesting that the fund's
distributions are exempt from federal income tax or from both federal
and state income tax, unless:
    (i) The fund has adopted a fundamental policy:
    (A) To invest, except under the circumstances provided in paragraph
(b)(1) of this section, at least 80% of the value of its assets in
investments the income from which is exempt, as applicable, from
federal income tax or from both federal and state income tax; or
    (B) To invest, except under the circumstances provided in paragraph
(b)(1) of this section, its assets so that at least 80% of the income
that it distributes will be exempt, as applicable, from federal income
tax or from both federal and state income tax; and
    (ii) Any terms used in the fund's name that suggest that the fund
invests its assets as described in paragraph (a)(3)(i) of this section
are consistent with those terms' plain English meaning or established
industry use.
    (b) Operation of policies and related recordkeeping. (1) A fund may
temporarily invest less than 80% of the value of its assets in
accordance with the fund's investment focus as otherwise required by
paragraph (a)(2)(i) or (a)(3)(i) of this section in the circumstances
described in paragraphs (b)(1)(i) through (iv) of this section,
provided the fund brings its investments into compliance with paragraph
(a)(2)(i) or (a)(3)(i) as soon as reasonably practicable:
    (i) As a result of market fluctuations, or other circumstances
where the temporary departure is not caused by the fund's purchase or
sale of a security or the fund's entering into or exiting an
investment, for no more than 30 consecutive days;
    (ii) To address unusually large cash inflows or unusually large
redemptions, for no more than 30 consecutive days;
    (iii) To take a position in cash and cash equivalents, or
government securities as defined in section 2(a)(16) of the Act, to
avoid losses in response to adverse market, economic, political, or
other conditions, for no more than 30 consecutive days; or
    (iv) To reposition or liquidate the fund's assets in connection
with a reorganization, to launch the fund, or when notice of a change
in a fund's policy as described in paragraph (a)(2)(ii) of this section
has been provided to fund shareholders.
    (2) For the purpose of determining the fund's compliance with an
investment policy adopted under paragraph (a)(2)(i) or (a)(3)(i)(A) of
this section, in addition to any derivatives instrument that the fund
includes in its 80% basket because the derivatives instrument provides
investment exposure to investments suggested by the fund's name, a fund
may include in its 80% basket a derivatives instrument that provides
investment exposure to one or more of the market risk factors
associated with investments suggested by the fund's name.
    (3) A fund must maintain written records documenting either its
compliance under paragraphs (a) and (b) of this section or, if the fund
does not adopt a policy under paragraphs (a)(2)(i) and (a)(3)(i) of
this section, a written record of the fund's analysis that such a
policy is not required under these paragraphs. Written records
documenting the fund's compliance under paragraphs (a) and (b) of this
section include: the fund's record of which investments are included in
the fund's 80% basket and the basis for including each such investment
in the fund's 80% basket; the value of the fund's 80% basket, as a
percentage of the value of the fund's assets; the reasons, pursuant to
paragraphs (b)(1)

and (2) of this section, for any departures from the policies described
in paragraphs (a)(2)(i) and (a)(3)(i); the dates of any departures from
the policies described in paragraphs (a)(2)(i) and (a)(3)(i); and any
notice sent to the fund's shareholders pursuant to paragraph (e) of
this section. Written records documenting the fund's compliance under
paragraphs (a) and (b) must be maintained for a period of not less than
six years following the creation of each required record (or, in the
case of notices, following the date the notice was sent), the first two
years in an easily accessible place. The written record made by a fund
that does not adopt a policy under paragraphs (a)(2)(i) and (a)(3)(i)
must be maintained in an easily accessible place for a period of not
less than six years following the fund's last use of its name.
    (c) Effect of compliance with policy adopted under paragraph
(a)(2)(i) or (a)(3)(i) of this section. A fund name may be materially
deceptive or misleading under section 35(d) of the Act even if the fund
adopts and implements a policy under paragraph (a)(2)(i) or (a)(3)(i)
of this section and otherwise complies with the requirements of
paragraph (a)(2) or (3) of this section, as applicable.
    (d) Use of ESG terms in fund names. If a fund considers one or more
ESG factors alongside other, non-ESG factors in its investment
decisions, but those ESG factors are generally no more significant than
other factors in the investment selection process, such that ESG
factors may not be determinative in deciding to include or exclude any
particular investment in the portfolio, the use of terms in the fund's
name indicating that the fund's investment decisions incorporate one or
more ESG factors is materially deceptive and misleading.
    (e) Notice. A policy to provide a fund's shareholders with notice
of a change in a fund's policy as described in paragraph (a)(2)(ii) of
this section must provide that:
    (1) The notice will be provided in plain English separately from
any other documents (provided, however, that if the notice is delivered
in paper form, it may be provided in the same envelope as other written
documents);
    (2) The notice will contain the following prominent statement, or
similar clear and understandable statement, in bold-face type:
``Important Notice Regarding Change in Investment Policy [and Name]'',
provided that
    (i) If the notice is provided in paper form, the statement also
will appear on the envelope in which the notice is delivered; and
    (ii) If the notice is provided electronically, the statement also
will appear on the subject line of the email communication that
includes the notice or an equivalent indication of the subject of the
communication in other forms of electronic media; and
    (3) The notice must describe, as applicable, the fund's policy
adopted under paragraph (a)(2)(i), the nature of the change to the
policy, the fund's old and new names, and the effective date of any
policy and/or name changes.
    (f) Unit Investment Trusts. The requirements of paragraphs
(a)(2)(i), (a)(3)(i), and (b)(3) of this section shall not apply to any
unit investment trust (as defined in section 4(2) of the Act (15 U.S.C.
80a-4(2)) that has made an initial deposit of securities prior to
[EFFECTIVE DATE OF FINAL RULE] unless the unit investment trust has
already adopted a policy under paragraph (a)(2) or (3) of this section
or was required to adopt such a policy at the time of the initial
deposit.
    (g) Definitions. For purposes of this section:
    (1) 80% basket means investments that are invested in accordance
with the investment focus that the fund's name suggests (or as
described in paragraph (a)(3)(i) of this section).
    (2) Assets means net assets, plus the amount of any borrowings for
investment purposes. In determining the value of a fund's assets for
purposes of this section, a fund must value each derivatives instrument
using the instrument's notional amount (which must be converted to 10-
year bond equivalents for interest rate derivatives and delta adjusted
for options contracts) and reduce the value of its assets by excluding
any cash and cash equivalents up to the notional amount of the
derivatives instrument(s).
    (3) Derivatives instrument means any swap, security-based swap,
futures contract, forward contract, option, any combination of the
foregoing, or any similar instrument.
    (4) ESG means environmental, social, and/or governance.
    (5) Fund means a registered investment company or a business
development company, including any separate series thereof.
    (6) Fundamental policy means a policy that a fund adopts under
section 8(b)(3) of the Act (15 U.S.C. 80a-8(b)(3)) or, in the case of a
business development company, a policy that is changeable only if
authorized by the vote of a majority of the outstanding voting
securities of the fund.
    (7) Launch means a period, not to exceed 180 consecutive days,
starting from the date the fund commences operations.

PART 274--FORMS PRESCRIBED UNDER THE INVESTMENT COMPANY ACT OF 1940

0
11. The general authority for part 274 continues to read as follows:

    Authority: 15 U.S.C. 77f, 77g, 77h, 77j, 77s, 78c(b), 78l, 78m,
78n, 78o(d), 80a-8, 80a-24, 80a-26, 80a-29, and 80a-37 unless
otherwise noted.
* * * * *
0
12. Amend Form N-1A (referenced in Sec. Sec.  239.15A and 274.11A) by
revising Item 4 to read as follows:

    Note:  The text of Form N-1A does not, and these amendments will
not, appear in the Code of Federal Regulations.

* * * * *

Item 4. Risk/Return Summary: Investments, Risks, and Performance

    Include the following information, in plain English under rule
421(d) under the Securities Act, in the order and subject matter
indicated:
    (a) Principal Investment Strategies of the Fund.
    (1) Based on the information given in response to Item 9(b),
summarize how the Fund intends to achieve its investment objectives by
identifying the Fund's principal investment strategies (including the
type or types of securities in which the Fund invests or will invest
principally) and any policy to concentrate in securities of issuers in
a particular industry or group of industries.
    Instruction: If the Fund is subject to paragraph (a)(2)(i) or
(a)(3)(i) of rule 35d-1 [17 CFR 270.35d-1], the Fund's disclosure
provided in response to Item 4(a)(1) must include definitions of the
terms used in its name, including the specific criteria the Fund uses
to select the investments the term describes, if any. For purposes of
this instruction, ``terms'' means any word or phrase used in a Fund's
name, other than any trade name of the Fund or its adviser, related to
the Fund's investment focus or strategies.
* * * * *
0
13. Amend Form N-2 (referenced in Sec. Sec.  239.14 and 274.11a-1) by
revising Item 8 to read as follows:

    Note:  The text of Form N-2 does not, and these amendments will
not, appear in the Code of Federal Regulations.

Form N-2

* * * * *

Part A--Information Required in a Prospectus

* * * * *

Item 8. General Description of the Registrant.

* * * * *
    2. * * *
    b. * * *

Instructions

    1. Concentration, for purposes of this Item, is deemed 25 percent
or more of the value of the Registrant's total assets invested or
proposed to be invested in a particular industry or group of
industries. The policy on concentration should not be inconsistent with
the Registrant's name.
    2. If the Fund is subject to paragraph (a)(2)(i) or (a)(3)(i) of
rule 35d-1 [17 CFR 270.35d-1], the Fund's disclosure provided in
response to Item 8(2)(b)(2) must include definitions of the terms used
in its name, including the specific criteria the Fund uses to select
the investments the term describes, if any. For purposes of this
instruction, ``terms'' means any word or phrase used in a Fund's name,
other than any trade name of the Fund or its adviser, related to the
Fund's investment focus or strategies.
* * * * *
0
14. Amend Form N-8B-2 (referenced in Sec.  274.12) by adding new
General Instruction 2.(l) and by revising Item 11 to read as follows:

    Note:  The text of Form N-8B-2 does not, and these amendments
will not, appear in the Code of Federal Regulations.

Form N-8B-2

* * * * *

GENERAL INSTRUCTIONS FOR FORM N-8B-2

* * * * *

2. Preparation and Filing of Registration Statement

Interactive Data

    (1) An Interactive Data File as defined in Rule 11 of Regulation S-
T [17 CFR 232.11] is required to be submitted to the Commission in the
manner provided by rule 405 of Regulation S-T [17 CFR 232.405] for any
registration statement on Form N-8B-2 that includes information
provided in response to Item 11 pursuant to Instruction 2. The
Interactive Data File must be submitted with the filing to which it
relates on the date such filing becomes effective.
    (2) All interactive data must be submitted in accordance with the
specifications in the EDGAR Filer Manual.
* * * * *

II. General Description of the Trust and Securities of the Trust

* * * * *

Information Concerning the Securities Underlying the Trust's Securities

    11. Describe briefly the kind or type of securities comprising the
unit of specified securities in which security holders have an
interest. (If the unit consists of a single security issued by an
investment company, name such investment company and furnish a
description of the type of securities comprising the portfolio of such
investment company.) (Note: Do not furnish a list of portfolio
securities in answer to this item. Describe portfolio securities as
``bonds of railroad companies,'' ``preferred stock of public utility
holding companies,'' ``common stock of industrial companies,'' etc.,
indicating the approximate proportion of each group in terms of value
as of a recent date.) If the trust owns or will own any securities of
its regular brokers or dealers as defined in rule 10b-l under the Act
[17 CFR 270. 10b-1], or their parents, identify those brokers or
dealers and state the value of the registrant's aggregate holdings of
the securities of each subject issuer as of the close of the
registrant's most recent fiscal year.
    Instruction:
    (1). The registrant need only disclose information with respect to
an issuer that derived more than 15% of its gross revenues from the
business of a broker, a dealer, an underwriter, or an investment
adviser during its most recent fiscal year. If the registrant has
issued more than one class or series of securities, the requested
information must be disclosed for the class or series that has
securities that are being registered.
    (2). If the trust is subject to paragraph (a)(2)(i) or (a)(3)(i) of
rule 35d-1 [17 CFR 270.35d-1], the trust's disclosure provided in
response to item 11 must include definitions of the terms used in its
name, including the specific criteria used to select the investments
the term describes, if any. For purposes of this instruction, ``terms''
means any word or phrase used in a trust's name, other than any trade
name of the trust or its depositor, related to the trust's investment
focus.
* * * * *
0
15. Amend Form N-PORT (referenced in Sec.  274.150) by revising parts B
and C to read as follows:

    Note: The text of Form N-PORT does not, and these amendments
will not, appear in the Code of Federal Regulations.

* * * * *

Part B: Information About the Fund

* * * * *
    Item B.9 Investment Company Act Names Rule Investment Policy. If
the Fund is required to adopt a policy as described in rule 35d-
1(a)(2)(i) or (a)(3)(i) [17 CFR 270.35d-1(a)(2)-(3)], provide the
following:
    a. The value of the Fund's 80% basket, as defined in rule 35d-
1(g)(1), as a percentage of the value of the Fund's assets; and
    b. If applicable, the number of days that the value of the Fund's
80% basket, as defined in rule 35d-1(g)(1), fell below 80% of the value
of the Fund's assets during the reporting period (or, if the Fund has
adopted a policy as described in rule 35d-1(a)(3)(i)(B), the number of
days that less than 80% of the income that the Fund distributed was
exempt, as applicable, from federal income tax or from both federal and
state income tax).
    Instruction: Because in accordance with rule 35d-1(b)(3) the Fund
must use a derivatives instrument's notional amount (which must be
converted to 10-year bond equivalents for interest rate derivatives and
delta adjusted for options contracts) for purposes of determining the
fund's compliance with an investment policy adopted under rule 35d-
1(a)(2)(i), the percentages that the Fund reports in response to Item
B.9.a and assesses for purposes of reporting in response to Item B.9.b
similarly must reflect the use of notional amounts with certain
adjustments as set forth above.
* * * * *

Part C: Schedule of Portfolio Investments

* * * * *
    Item C.2. Amount of each investment
* * * * *
    e. If the Fund is required to adopt a policy as described in rule
35d-1(a)(2)(i) or (a)(3)(i) [17 CFR 270.35d-1(a)(2)(i), (3)(i)], is the
investment included in the Fund's 80% basket, as defined in rule 35d-
1(g), as applicable? [Y/N]
* * * * *

    By the Commission.

    Dated: May 25, 2022.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2022-11742 Filed 6-16-22; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 83, Number 227 (Monday, November 26, 2018)]
[Proposed Rules]
[Pages 60389-60390]
[FR Doc No: 2018-25554]

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

ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 158

[EPA-HQ-OPP-2018-0668; FRL-9984-47]
RIN 2070-AK41

Notification of Submission to the Secretaries of Agriculture and
Health and Human Services; Pesticides; Technical Amendment to Data
Requirements for Antimicrobial Pesticides

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notification of submission to the Secretaries of Agriculture
and Health and Human Services.

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

SUMMARY: This document notifies the public as required by the Federal
Insecticide, Fungicide, and Rodenticide Act (FIFRA) that the EPA
Administrator has forwarded to the Secretary of the United States
Department of Agriculture (USDA) and the Secretary of the United States
Department of Health and Human Services (HHS) a draft regulatory
document concerning Pesticides; Technical Amendment to Data
Requirements for Antimicrobial Pesticides. The draft regulatory
document is not available to the public until after it has been signed
and made available by EPA.

DATES: On October 29, 2018, the EPA Administrator forwarded to the
Secretary of the United States Department of Agriculture (USDA) and the
Secretary of the United States Department of Health and Human Services
(HHS) a draft regulatory document concerning Pesticides; Technical
Amendment to Data Requirements for Antimicrobial Pesticides.

ADDRESSES: The docket for this action, identified by docket
identification (ID) number EPA-HQ-OPP-2018-0668, is available at http://www.regulations.gov or at the Office of Pesticide Programs Regulatory
Public Docket (OPP Docket) in the Environmental Protection Agency
Docket Center (EPA/DC), West William Jefferson Clinton Bldg. Rm. 3334,
1301 Constitution Ave. NW, Washington, DC 20460-0001. The Public
Reading Room is open from 8:30 a.m. to 4:30 p.m., Monday through
Friday, excluding legal holidays. The telephone number for the Public
Reading Room is<PHONE_NUMBER>, and the telephone number for the OPP
Docket is<PHONE_NUMBER>. Please review the visitor instructions and
additional information about the docket available at http://www.epa.gov/dockets.

FOR FURTHER INFORMATION CONTACT: Cameo Smoot, Field and External
Affairs Division (7506P), Office of Pesticide Programs, Environmental
Protection Agency, 1200 Pennsylvania Ave. NW, Washington DC 20460-0001;
telephone number:<PHONE_NUMBER>; email address: [email protected].

SUPPLEMENTARY INFORMATION:

I. What action is EPA taking?

    Section 25(a)(2)(B) of FIFRA requires the EPA Administrator to
provide the Secretary of USDA with a copy of any draft final rule at
least 30 days before signing it in final form for publication in the
Federal Register. Similarly, FIFRA section 21(b) requires the EPA
Administrator to provide the Secretary of HHS with a copy of any draft
final rule pertaining to a public health pesticide at least 30 days
before publishing it in the Federal Register. The draft final rule is
not available to the public until after it has been signed by EPA. If
either Secretary comments in writing regarding the draft final rule
within 15 days after receiving it, the EPA Administrator shall include
the comments of the Secretary, if requested by the Secretary, and the
EPA Administrator's response to those comments with the final rule that
publishes in the Federal Register. If either Secretary does not comment
in writing within 15 days after receiving the draft final rule, the EPA
Administrator may sign the final rule for publication in the Federal
Register any time after the 15-day period.

II. Do any statutory and executive order reviews apply to this
notification?

    No. This document is merely a notification of submission to the
Secretaries of USDA and HHS. As such, none of the regulatory assessment
requirements apply to this document.

List of Subjects in Part 40 CFR 158

    Environmental protection, Administrative practice and procedure,
Pesticides and pests, Reporting and recordkeeping requirements.

    Dated: October 25, 2018.
Richard P. Keigwin, Jr.,
Director, Office of Pesticide Programs.
[FR Doc. 2018-25554 Filed 11-23-18; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register Volume 80, Number 156 (Thursday, August 13, 2015)]
[Notices]
[Pages 48554-48555]
[FR Doc No: 2015-19997]

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

DEPARTMENT OF HOMELAND SECURITY

Coast Guard

[USCG-2015-0692; OMB Control Number 1625-0103]

Information Collection Request to Office of Management and Budget

AGENCY: Coast Guard, DHS.

ACTION: Sixty-day notice requesting comments.

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

SUMMARY:  In compliance with the Paperwork Reduction Act of 1995, the
U.S. Coast Guard intends to submit an Information Collection Request
(ICRs) to the Office of Management and Budget (OMB), Office of
Information and Regulatory Affairs (OIRA), requesting approval of a
revision of a currently approved collection: 1625-0103, Mandatory Ship
Reporting System for the Northeast and Southeast Coasts of the United
States. Our ICR describes the information we seek to collect from the
public. Before submitting this ICR to OIRA, the Coast Guard is inviting
comments as described below.

DATES: Comments must reach the Coast Guard on or before October 13,
2015.

ADDRESSES: You may submit comments identified by Coast Guard docket
number [USCG-2015-0692] to the Docket Management Facility (DMF) at the
U.S. Department of Transportation (DOT). To avoid duplicate
submissions, please use only one of the following means:
    (1) Online: http://www.regulations.gov.
    (2) Mail: DMF (M-30), DOT, West Building Ground Floor, Room W12-
140, 1200 New Jersey Avenue SE., Washington, DC 20590-0001.
    (3) Hand delivery: Same as mail address above, between 9 a.m. and 5
p.m., Monday through Friday, except Federal holidays. The telephone
number is<PHONE_NUMBER>.
    (4) Fax:<PHONE_NUMBER>. To ensure your comments are received in a
timely manner, mark the fax, to attention Desk Officer for the Coast
Guard.
    The DMF maintains the public docket for this Notice. Comments and
material received from the public, as well as documents mentioned in
this Notice as being available in the docket, will become part of the
docket and will be available for inspection or copying at room W12-140
on the West Building Ground Floor, 1200 New Jersey Avenue SE.,
Washington, DC, between 9 a.m. and 5 p.m., Monday through Friday,
except Federal holidays. You may also find the docket on the Internet
at http://www.regulations.gov.
    Copies of the ICR(s) are available through the docket on the
Internet at http://www.regulations.gov. Additionally, copies are
available from: Commandant (CG-612), Attn Paperwork Reduction Act
Manager, US Coast Guard, 2703 Martin Luther King Jr. Ave. SE., Stop
7710, Washington DC 20593-7710.

FOR FURTHER INFORMATION CONTACT: Mr. Anthony Smith, Office of
Information

Management, telephone<PHONE_NUMBER>, or fax<PHONE_NUMBER>, for questions
on these documents. Contact Ms. Cheryl Collins, Program Manager, Docket
Operations,<PHONE_NUMBER>, for questions on the docket.

SUPPLEMENTARY INFORMATION:

Public Participation and Request for Comments

    This Notice relies on the authority of the Paperwork Reduction Act
of 1995; 44 U.S.C. Chapter 35, as amended. An ICR is an application to
OIRA seeking the approval, extension, or renewal of a Coast Guard
collection of information (Collection). The ICR contains information
describing the Collection's purpose, the Collection's likely burden on
the affected public, an explanation of the necessity of the Collection,
and other important information describing the Collection. There is one
ICR for each Collection.
    The Coast Guard invites comments on whether these ICRs should be
granted based on the Collections being necessary for the proper
performance of Departmental functions. In particular, the Coast Guard
would appreciate comments addressing: (1) The practical utility of the
Collection; (2) the accuracy of the estimated burden of the Collection;
(3) ways to enhance the quality, utility, and clarity of information
subject to the Collection; and (4) ways to minimize the burden of the
Collection on respondents, including the use of automated collection
techniques or other forms of information technology. In response to
your comments, we may revise these ICRs or decide not to seek approval
of revisions of the Collection. We will consider all comments and
material received during the comment period.
    We encourage you to respond to this request by submitting comments
and related materials. Comments must contain the OMB Control Number of
the ICR and the docket number of this request, [USCG-2015-0692], and
must be received by October 13, 2015. We will post all comments
received, without change, to http://www.regulations.gov. They will
include any personal information you provide. We have an agreement with
DOT to use their DMF. Please see the ``Privacy Act'' paragraph below.

Submitting Comments

    If you submit a comment, please include the docket number [USCG-
2015-0692], indicate the specific section of the document to which each
comment applies, providing a reason for each comment. You may submit
your comments and material online (via http://www.regulations.gov), by
fax, mail, or hand delivery, but please use only one of these means. If
you submit a comment online via www.regulations.gov, it will be
considered received by the Coast Guard when you successfully transmit
the comment. If you fax, hand deliver, or mail your comment, it will be
considered as having been received by the Coast Guard when it is
received at the DMF. We recommend you include your name, mailing
address, an email address, or other contact information in the body of
your document so that we can contact you if we have questions regarding
your submission.
    You may submit your comments and material by electronic means,
mail, fax, or delivery to the DMF at the address under ADDRESSES; but
please submit them by only one means. To submit your comment online, go
to http://www.regulations.gov, and type ``USCG-2015-0692'' in the
``Search'' box. If you submit your comments by mail or hand delivery,
submit them in an unbound format, no larger than 8\1/2\ by 11 inches,
suitable for copying and electronic filing. If you submit comments by
mail and would like to know that they reached the Facility, please
enclose a stamped, self-addressed postcard or envelope. We will
consider all comments and material received during the comment period
and will address them accordingly.
    Viewing comments and documents: To view comments, as well as
documents mentioned in this Notice as being available in the docket, go
to http://www.regulations.gov, click on the ``read comments'' box,
which will then become highlighted in blue. In the ``Search'' box
insert ``USCG-2015-0692'' and click ``Search.'' Click the ``Open Docket
Folder'' in the ``Actions'' column. You may also visit the DMF in Room
W12-140 on the ground floor of the DOT West Building, 1200 New Jersey
Avenue SE., Washington, DC 20590, between 9 a.m. and 5 p.m., Monday
through Friday, except Federal holidays.

Privacy Act

    Anyone can search the electronic form of comments received in
dockets by the name of the individual submitting the comment (or
signing the comment, if submitted on behalf of an association,
business, labor union, etc.). You may review a Privacy Act statement
regarding Coast Guard public dockets in the January 17, 2008, issue of
the Federal Register (73 FR 3316).

Information Collection Request

    1. Title: Mandatory Ship Reporting System for the Northeast and
Southeast Coasts of the United States.
    OMB Control Number: 1625-0103.
    Summary: The information is needed to reduce the number of ship
collisions with endangered northern right whales. Coast Guard rules at
33 CFR part 169 establish two mandatory ship reporting systems off the
northeast and southeast coasts of the United States.
    Need: The collection involves ships' reporting by radio to a shore-
based authority when entering the area covered by the reporting system.
The ship will receive, in return, information to reduce the likelihood
of collisions between themselves and northern right whales--an
endangered species--in the areas established with critical-habitat
designation.
    Forms: None.
    Respondents: Operators of certain vessels.
    Frequency: On occasion.
    Burden Estimate: The estimated burden has decreased from 200 hours
to 188 hours a year due to a decrease in the estimated annual number of
responses.

    Authority: The Paperwork Reduction Act of 1995; 44 U.S.C.
Chapter 35, as amended.

    Dated: August 1, 2015.
Thomas P. Michelli,
Deputy Chief Information Officer, U.S. Coast Guard.
[FR Doc. 2015-19997 Filed 8-12-15; 8:45 am]
BILLING CODE 9110-04-P


[Federal Register: October 3, 2005 (Volume 70, Number 190)]
[Notices]
[Page 57585]
[DOCID:fr03oc05-81]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 2696]

Town of Stuyvesant and Stuyvesant Hydro Corporation; Notice of
Authorization for Continued Project Operation

September 27, 2005.
    On July 22, 2005, the Town of Stuyvesant and Stuyvesant Falls Hydro
Corporation licensee for the Stuyvesant Falls Hydroelectric Project No.
2696, filed an application for a new or subsequent license pursuant to
the Federal Power Act (FPA) and the Commission's regulations. Project
No. 2696 is located on the Kinderhook Creek in Columbia County, New
York.
    The license for Project No. 2696 was issued for a period ending
August 31, 2005. Section 15(a)(1) of the FPA, 16 U.S.C. 808(a)(1),
requires the Commission, at the expiration of a license term, to issue
from year to year an annual license to the then licensee under the
terms and conditions of the prior license until a new license is
issued, or the project is otherwise disposed of as provided in section
15 or any other applicable section of the FPA. If the project's prior
license waived the applicability of section 15 of the FPA, then, based
on section 9(b) of the Administrative Procedure Act, 5 U.S.C. 558(c),
and as set forth at 18 CFR 16.21(a), if the licensee of such project
has filed an application for a subsequent license, the licensee may
continue to operate the project in accordance with the terms and
conditions of the license after the minor or minor part license
expires, until the Commission acts on its application. If the licensee
of such a project has not filed an application for a subsequent
license, then it may be required, pursuant to 18 CFR 16.21(b), to
continue project operations until the Commission issues someone else a
license for the project or otherwise orders disposition of the project.
    If the project is subject to section 15 of the FPA, notice is
hereby given that an annual license for Project No. 2696 is issued to
the Town of Stuyvesant and Stuyvesant Falls Hydro Corporation for a
period effective September 1, 2005 through August 31, 2006, or until
the issuance of a new license for the project or other disposition
under the FPA, whichever comes first. If issuance of a new license (or
other disposition) does not take place on or before September 1, 2006,
notice is hereby given that, pursuant to 18 CFR 16.18(c), an annual
license under section 15(a)(1) of the FPA is renewed automatically
without further order or notice by the Commission, unless the
Commission orders otherwise.
    If the project is not subject to section 15 of the FPA, notice is
hereby given that the Town of Stuyvesant and Stuyvesant Falls Hydro
Corporation is authorized to continue operation of the Stuyvesant Falls
Hydroelectric Project No. 2696 until such time as the Commission acts
on its application for subsequent license.

Magalie R. Salas,
Secretary.
 [FR Doc. E5-5401 Filed 9-30-05; 8:45 am]

BILLING CODE 6717-01-P


[Federal Register Volume 85, Number 178 (Monday, September 14, 2020)]
[Notices]
[Pages 56600-56601]
[FR Doc No: 2020-20173]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 7274-034]

Town of Wells; Notice of Intent To File License Application,
Filing of Pre-Application Document, Approving Use of the Traditional
Licensing Process

    a. Type of Filing: Notice of Intent to File License Application and
Request to Use the Traditional Licensing Process.
    b. Project No.: 7274-034.
    c. Date Filed: July 28, 2020.
    d. Submitted By: Town of Wells.
    e. Name of Project: Lake Algonquin Hydroelectric Project.
    f. Location: On the Sacandaga River in the Town of Wells, Hamilton
County, New York. The project does not occupy any federal land.
    g. Filed Pursuant to: 18 CFR 5.3 of the Commission's regulations.
    h. Potential Applicant Contact: Nicholas Mauro, Town of Wells, 1438
State Route 30, Wells, NY 12190;<PHONE_NUMBER>; email_nick-
[email protected]
    i. FERC Contact: Samantha Pollak at<PHONE_NUMBER>; or email at
<EMAIL_ADDRESS>    j. The Town of Wells filed its request to use the Traditional
Licensing Process on July 28, 2020. The Town of Wells provided public
notice of its request on July 20, 2020. In a letter dated September 8,
2020, the Director of the Division of Hydropower Licensing approved the
Town of Wells' request to use the Traditional Licensing Process.
    k. With this notice, we are initiating informal consultation with
the U.S. Fish and Wildlife Service under section 7 of the Endangered
Species Act and the joint agency regulations thereunder at 50 CFR, Part
402. We are also initiating consultation with the New York State
Historic Preservation Officer, as required by section 106, National
Historic Preservation Act, and the

implementing regulations of the Advisory Council on Historic
Preservation at 36 CFR 800.2.
    l. With this notice, we are designating the Town of Wells as the
Commission's non-federal representative for carrying out informal
consultation pursuant to section 7 of the Endangered Species Act and
consultation pursuant to section 106 of the National Historic
Preservation Act.
    m. The Town of Wells filed a Pre-Application Document (PAD;
including a proposed process plan and schedule) with the Commission,
pursuant to 18 CFR 5.6 of the Commission's regulations.
    n. A copy of the PAD may be viewed on the Commission's website
(http://www.ferc.gov), using the ``eLibrary'' link. Enter the docket
number, excluding the last three digits in the docket number field, to
access the document. At this time, the Commission has suspended access
to the Commission's Public Reference Room, due to the proclamation
declaring a National Emergency concerning the Novel Coronavirus Disease
(COVID-19), issued by the President on March 13, 2020. For assistance,
contact FERC Online Support at<EMAIL_ADDRESS>(866) 208
3676 (toll free), or<PHONE_NUMBER> (TTY).
    o. The licensee states its unequivocal intent to submit an
application for a subsequent license for Project No. 7274. Pursuant to
18 CFR 16.20, each application for a subsequent license and any
competing license applications must be filed with the Commission at
least 24 months prior to the expiration of the existing license. All
applications for license for this project must be filed by July 31,
2023.
    p. Register online at http://www.ferc.gov/docs-filing/esubscription.asp to be notified via email of new filing and issuances
related to this or other pending projects. For assistance, contact FERC
Online Support.

    Dated: September 8, 2020.
Kimberly D. Bose,
Secretary.
[FR Doc. 2020-20173 Filed 9-11-20; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 87, Number 231 (Friday, December 2, 2022)]
[Proposed Rules]
[Pages 74057-74060]
[FR Doc No: 2022-26133]

=======================================================================
-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

17 CFR Chapter II

[Release Nos. 33-11136; 34-96386; IC-34765; File No. S7-27-22]

List of Rules To Be Reviewed Pursuant to the Regulatory
Flexibility Act

AGENCY: Securities and Exchange Commission.

ACTION: Publication of list of rules scheduled for review.

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

SUMMARY: The Securities and Exchange Commission is publishing a list of
rules to be reviewed pursuant to Section 610 of the Regulatory
Flexibility Act. The list is published to provide the public with
notice that these rules are scheduled for review by the agency and to
invite public comment on whether the rules should be continued without
change, or should be amended or rescinded to minimize any significant
economic impact of the rules upon a substantial number of small
entities.

DATES: Comments should be submitted by January 3, 2023.

ADDRESSES: Comments may be submitted by any of the following methods:

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/submitcomments.html); or
     Send an email to [email protected]. Please include
File Number S7-27-22 on the subject line.

Paper Comments

     Send paper comments to Secretary, Securities and Exchange
Commission, 100 F Street NE, Washington, DC 20549-1090.
    All submissions should refer to File Number S7-27-22. 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 of submission. The Commission will post all
comments on the Commission's website (http://www.sec.gov/rules/other.shtml). Comments are also available for website viewing and
printing in the Commission's Public Reference Room, 100 F Street NE,
Washington, DC 20549 on official business days between the hours of 10
a.m. and 3 p.m. Operating conditions may limit access to the
Commission's Public Reference Room. All comments received will be
posted without change. Persons submitting comments are cautioned that
we do not redact or edit personal identifying information from comment
submissions. You should submit only information that you wish to make
available publicly.

FOR FURTHER INFORMATION CONTACT: Sandra Sojka, General Attorney, Office
of the General Counsel,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: The Regulatory Flexibility Act (``RFA''),
codified at 5 U.S.C. 601-612, requires an agency to review its rules
that have a significant economic impact upon a substantial number of
small entities within ten years of the publication of such rules as
final rules. 5 U.S.C. 610(a). The purpose of the review is ``to
determine whether such rules should be continued without change, or
should be amended or rescinded . . . to minimize any significant
economic impact of the rules upon a substantial number of such small
entities.'' 5 U.S.C. 610(a). The RFA sets forth specific considerations
that must be addressed in the review of each rule:
     the continued need for the rule;
     the nature of complaints or comments received concerning
the rule from the public;
     the complexity of the rule;
     the extent to which the rule overlaps, duplicates or
conflicts with other federal rules, and, to the extent feasible, with
state and local governmental rules; and
     the length of time since the rule has been evaluated or
the degree to which technology, economic conditions, or other factors
have changed in the area affected by the rule. 5 U.S.C. 610(b).
    The list below includes rules adopted in 2013 that may have a
significant economic impact on a substantial number of small entities
(but excludes rules that have been substantially changed since
adoption, rules that are minor amendments to previously adopted rules,
and rules that are ministerial, procedural, or technical in nature).
Where the Commission has previously made a determination of a rule's
impact on small businesses, the determination is noted on the list.
    The Commission particularly solicits public comment on whether the
rules listed below affect small businesses in new or different ways
than when they were first adopted. The rules and forms listed below are
scheduled for review by staff of the Commission.
    Title: Removal of Certain References to Credit Ratings Under the
Investment Company Act.
    Citation: 17 CFR 239, 17 CFR 270.5b-3, and 17 CFR 274.
    Authority: 15 U.S.C. 77f, 77g, 77h, 77j, 77s, 77z-2, 77z-3, 77sss,
78c, 78c(b), 78l, 78m, 78n, 78o(d), 78o-7, 78o-7 note, 78u-5, 78w(a),
78ll, 78mm, 80a-1 et seq., 80a-2(a), 80a-3, 80a-8, 80a-9, 80a-10, 80a-
13, 80a-24, 80a-26, 80a-29, 80a-30, 80a- 34(d), 80a-37, 80a-39; and
Pub. L. 111-203, sec. 939A, 124 Stat. 1376 (2010).
    Description: The Commission adopted amendments to a rule and three
forms under the Investment Company Act of 1940 (``Investment Company
Act'') and the Securities Act of 1933 (``Securities Act'') in order to
implement a provision of the Dodd-Frank Wall Street Reform and Consumer
Protection Act (``Dodd-Frank Act''). Specifically, rule 5b-3 under the
Investment Company Act contained a reference to credit ratings in
determining when an investment company (``fund'') may treat a
repurchase agreement as an acquisition of securities collateralizing
the repurchase agreement for certain purposes under the Investment
Company Act. The amendments replaced this reference to credit ratings
with an alternative standard designed to retain a similar degree of
credit quality to that in prior rule 5b-3. The Commission also adopted
amendments to Forms N-1A, N-2, and N-3 under the Investment Company Act
and the Securities Act to eliminate the required use of NRSRO credit
ratings when a fund chooses to depict its portfolio holdings by credit
quality.
    Prior RFA Analysis: When the Commission adopted the amendments on
December 27, 2013, it published a Final Regulatory Flexibility Analysis
in the adopting release, Release No. 33-9506, available at: https://www.federalregister.gov/documents/2014/01/08/2013-31425/removal-of-certain-references-to-credit-ratings-under-the-investment-company-act.
The Commission received no comments on its Initial Regulatory
Flexibility Analysis published in the proposing release, Release No.
33-9193 (March 3, 2011), available at: https://www.federalregister.gov/
documents/

2011/03/09/2011-5184/references-to-credit-ratings-in-certain-
investment-company-act-rules-and-forms.
* * * * *
    Title: Registration of Municipal Advisors.
    Citation: 17 CFR 200.19c, 17 CFR 200.19d, 17 CFR 200.30-3a, 17 CFR
200.30-18; 17 CFR 240.15Ba1-1, 17 CFR 240.15Ba1-2, 17 CFR 240.15Ba1-3,
17 CFR 240.15Ba1-4, 17 CFR 40.15Ba1-5, 17 CFR 240.15Ba1-6, 17 CFR
240.15Ba1-7, 17 CFR 240.15Ba1-8, 17 CFR 240.15Bc4-1; 17 CFR 249.1300,
17 CFR 249.1300T, 17 CFR 249.1310, 17 CFR 249.1320, 17 CFR 249.1330,
and 17 CFR 249.1300T.
    Authority: 15 U.S.C. 77c, 77d, 77g, 77j, 77o, 77s, 77z-2, 77z-3,
77eee, 77ggg, 77nnn, 77sss, 77ttt, 78a et seq., 78c, 78d, 78d-1, 78d-2,
78e, 78f, 78g, 78i, 78j, 78j-1, 78k, 78k-1, 78l, 78m, 78n, 78n-1, 78o,
78o-4, 78p, 78q, 78q-1, 78s, 78u-5, 78w, 78x, 78ll, 78ll(d), 78mm, 80a-
20, 80a-23, 80a-29, 80a-37, 80b-3, 80b-4, 80b-11, 7201 et seq., 7202,
7211 et seq., 12 U.S.C. 5221(e)(3), 12 U.S.C. 5461 et seq., and 18
U.S.C. 1350, unless as otherwise noted.
    Description: The Commission adopted new Rules 15Ba1-1 through
15Ba1-8, new Rule 15Bc4-1, and new Forms MA, MA-I, MA-W, and MA-NR
under the Securities Exchange Act of 1934 (``Exchange Act'') to
implement provisions of Title IX of the Dodd-Frank Act that required
the Commission to establish a registration regime for municipal
advisors and impose certain record-keeping requirements on such
advisors. The rules and forms are designed to give effect to provisions
of Title IX of the Dodd-Frank Act that, among other things, required
the Commission to establish a registration regime for municipal
advisors and impose certain record-keeping requirements on such
advisors.
    Prior RFA Analysis: When the Commission adopted the rules and forms
on September 20, 2013, it published a Final Regulatory Flexibility
Analysis in the adopting release, Release No. 34-70462, available at:
https://www.federalregister.gov/documents/2013/11/12/2013-23524/registration-of-municipal-advisors. The Commission solicited comment on
the Initial Regulatory Flexibility Analysis published in the proposing
release, Release No. 34-63576 (Dec. 20, 2010), available at: https://www.federalregister.gov/documents/2011/01/06/2010-32445/registration-of-municipal-advisors, and considered comments received at that time.
* * * * *
    Title: Broker Dealer Reports.
    Citation: 17 CFR 240.17a-5, 17 CFR 240.17a-11, and 17 CFR 249.639.
    Authority: 15 U.S.C. 78a et seq., 77c, 77d, 77g, 77j, 77s, 77z-2,
77z-3, 77eee, 77ggg, 77nnn, 77sss, 77ttt, 78a et seq., 78c, 78c-3, 78c-
5, 78d, 78e, 78f, 78g, 78i, 78j, 78j-1, 78k, 78k-1, 78l, 78m, 78n, 78n-
1, 78o, 78o-4, 78o-10, 78p, 78q, 78q-1, 78s, 78u-5, 78w, 78x, 78ll,
78mm, 80a-20, 80a-23, 80a-29, 80a-37, 80b-3, 80b- 4, 80b-11, 7201 et
seq., 8302, 7 U.S.C. 2(c)(2)(E), 12 U.S.C. 5221(e)(3), 12 U.S.C. 5461
et seq., 18 U.S.C. 1350; and Pub. L. 111-203, 939A, 124 Stat. 1376,
(2010).
    Description: The Commission amended certain broker-dealer annual
reporting, audit, and notification requirements under the Exchange Act.
The amendments included a requirement that broker-dealer audits be
conducted in accordance with standards of the Public Company Accounting
Oversight Board (``PCAOB'') in light of explicit oversight authority
provided to the PCAOB by the Dodd-Frank Act to oversee these audits.
The amendments further required a broker-dealer that clears
transactions or carries customer accounts to agree to allow
representatives of the Commission or the broker-dealer's designated
examining authority (``DEA'') to review the documentation associated
with certain reports of the broker-dealer's independent public
accountant and to allow the accountant to discuss the findings relating
to the reports of the accountant with those representatives when
requested in connection with a regulatory examination of the broker-
dealer. Finally, the amendments required a broker-dealer to file a new
form with its DEA that elicits information about the broker-dealer's
practices with respect to the custody of securities and funds of
customers and non-customers.
    Prior RFA Analysis: When the Commission adopted the amendments and
new form on July 30, 2013, it published a Final Regulatory Flexibility
Analysis in the adopting release, Release No. 34-70073, available at:
https://www.federalregister.gov/documents/2013/08/21/2013-18738/broker-dealer-reports. The Commission received no comments on the Initial
Regulatory Flexibility Analysis included in the proposing release,
Release No. 34-64676 (June 15, 2011), available at: https://www.federalregister.gov/documents/2011/06/27/2011-15341/broker-dealer-reports.
* * * * *
    Title: Financial Responsibility Rules for Broker-Dealers.
    Citation: 17 CFR 240.15c3-1, 17 CFR 240.15c3-1a, 17 CFR 240.15c3-2,
17 CFR 240.15c3-3, 17 CFR 240.15c3-3a, 17 CFR 240.17a-3, 17 CFR
240.17a-4, and 17 CFR 240.17a-11.
    Authority: 15 U.S.C. 77c, 77d, 77g, 77j, 77s, 77z-2, 77z-3, 77eee,
77ggg, 77nnn, 77sss, 77ttt, 78c, 78c-3, 78c-5, 78d, 78e, 78f, 78g, 78i,
78j, 78j-1, 78k, 78k-1, 78l, 78m, 78n, 78n-1, 78o, 78o-4, 78o-10, 78p,
78q, 78q-1, 78s, 78u-5, 78w, 78x, 78ll, 78mm, 80a-20, 80a-23, 80a-29,
80a-37, 80b-3, 80b-4, 80b-11, 7201 et. seq., 8302, 7 U.S.C. 2(c)(2)(E),
12 U.S.C. 5221(e)(3), 18 U.S.C. 1350; and Pub. L. 111-203, 939A, 124
Stat. 1376, (2010).
    Description: The Commission adopted amendments to the net capital
(Rule 15c3-1), customer protection (Rule 15c3-3), books and records
(Rules 17a-3 and 17a- 4), and notification rules for broker-dealers
(Rule 17a-11) promulgated under the Exchange Act. The amendments were
designed to address several areas of concern regarding the financial
responsibility requirements for broker-dealers. The amendments also
updated certain financial responsibility requirements and made certain
technical amendments.
    Prior RFA Analysis: When the Commission adopted the amendments on
July 30, 2013, it published a Final Regulatory Flexibility Analysis in
the adopting release, Release No. 34-70072, available at: https://www.federalregister.gov/documents/2013/08/21/2013-18734/financial-responsibility-rules-for-broker-dealers. The Commission solicited
comment on the Initial Regulatory Flexibility Analysis included in the
proposing release, Release No. 34-66910 (May 3, 2012), available at:
https://www.federalregister.gov/documents/2012/05/09/2012-11133/amendments-to-financial-responsibility-rules-for-broker-dealers, and
considered comments received at that time.
* * * * *
    Title: Eliminating the Prohibition Against General Solicitation and
General Advertising in Rule 506 and Rule 144A Offerings.
    Citation: 17 CFR 230.144A, 17 CFR 230.500(c), 17 CFR 230.501, 17
CFR 230.502, 17 CFR 230.506, 17 CFR 239.500, 17 CFR 242.101, 17 CFR
242.102, and 17 CFR 242.104.
    Authority: 15 U.S.C. 77b, 77b note, 77c, 77d, 77d note, 77f, 77g,
77h, 77j, 77r, 77s, 77q(a), 77s(a), 77z-2, 77z-3, 77sss, 78b, 78c, 78d,
78g(c)(2), 78i(a), 78j, 78k-1(c), 78l, 78m, 78n, 78o, 78o-7 note,
78o(b), 78o(c), 78o(d), 78o(g), 78q(a), 78q(b), 78q(h), 78t, 78u-5,
78w, 78w(a), 78dd-1, 78ll, 78ll(d), 78mm, 80a-2(a), 80a-3, 80a-8, 80a-
9, 80a-10,

80a-13, 80a-23, 80a-24, 80a-26, 80a-28, 80a-29, 80-30, 80a-37; and Pub.
L. 112-106, sec. 201(a), 126 Stat. 313 (2012).
    Description: The Commission adopted amendments to Rule 506 of
Regulation D and Rule 144A under the Securities Act to implement
Section 201(a) of the Jumpstart Our Business Startups Act. The
amendment to Rule 506 permitted an issuer to engage in general
solicitation or general advertising in offering and selling securities
pursuant to Rule 506, provided that all purchasers of the securities
are accredited investors and the issuer takes reasonable steps to
verify that such purchasers are accredited investors. The amendment to
Rule 506 also included a non-exclusive list of methods that issuers may
use to satisfy the verification requirement for purchasers who are
natural persons. The amendment to Rule 144A provided that securities
may be offered pursuant to Rule 144A to persons other than qualified
institutional buyers, provided that the securities are sold only to
persons that the seller and any person acting on behalf of the seller
reasonably believe are qualified institutional buyers. The Commission
also revised Form D to require issuers to indicate whether they are
relying on the provision that permits general solicitation or general
advertising in a Rule 506 offering.
    Prior RFA Analysis: When the Commission adopted the amendments on
July 10, 2013, it published a Final Regulatory Flexibility Analysis in
the adopting release, Release No. 33-9415, available at: https://www.federalregister.gov/documents/2013/07/24/2013-16883/eliminating-the-prohibition-against-general-solicitation-and-general-advertising-in-rule-506-and. The Commission solicited comment on its Initial
Regulatory Flexibility Analysis published in the proposing release,
Release No. 33-9354 (August 29, 2012), available at: https://www.federalregister.gov/documents/2012/09/05/2012-21681/eliminating-the-prohibition-against-general-solicitation-and-general-advertising-in-rule-506-and, and considered comments received at that time.
* * * * *
    Title: Disqualification of Felons and Other ``Bad Actors'' from
Rule 506 Offerings
    Citation: 17 CFR 200.30-1, 17 CFR 230.145, 17 CFR. 147, 17 CFR 152,
17 CFR 155, 17 CFR 230.501, 17 CFR 230.506, and 17 CFR 239.500
    Authority: 15 U.S.C. 77b, 77b note, 77c, 77d, 77d note, 77f, 77g,
77h, 77j, 77o, 77r, 77s, 77z-2, 77z-3, 77sss, 78c, 78d, 78d-1, 78d-2,
78j, 78l, 78m, 78n, 78o, 78o(d), 78o-7 note, 78t, 78u-5, 78w, 78w(a),
78ll, 78ll(d), 78mm, 80a-2(a), 80a-3, 80a-8, 80a-9, 80a-10, 80a-13,
80a-24, 80a-26, 80a-28, 80a-29, 80a-30, 80a-37, 80b-11, 7202; and Pub.
L. 112-106, 201(a), 126 Stat. 313 (2012).
    Description: The Commission adopted amendments to Rules 501 and 506
of Regulation D and to Form D to implement Section 926 of the Dodd-
Frank Act. Section 926 required the Commission to adopt rules that
disqualify securities offerings involving certain ``felons and other
`bad actors' '' from reliance on Rule 506 of Regulation D. The rules
are ``substantially similar'' to Rule 262 under the Securities Act,
which contains the disqualification provisions of Regulation A under
the Securities Act, and also cover matters enumerated in Section 926 of
the Dodd-Frank Act (including certain state regulatory orders and
bars).
    Prior RFA Analysis: When the Commission adopted the amendments on
July 10, 2013, it published a Final Regulatory Flexibility Analysis in
the adopting release, Release No. 33-9414, available at: https://www.federalregister.gov/documents/2013/07/24/2013-16983/disqualification-of-felons-and-other-bad-actors-from-rule-506-offerings. The Commission received no comments on its Initial
Regulatory Flexibility Analysis published in the proposing release,
Release No. 33-9211 (May 25, 2011), available at: https://www.federalregister.gov/documents/2011/06/01/2011-13370/disqualification-of-felons-and-other-bad-actors-from-rule-506-offerings.
* * * * *
    Title: Identity Theft Red Flags Rules.
    Citation: 17 CFR 162.30, 17 CFR 162.31, 17 CFR 162.32, 17 CFR
248.201, and 17 CFR 248.202.
    Authority: Sec. 1088, Pub. L. 111-203, 124 Stat. 1376 (2010); 15
U.S.C. 78q, 78q-1, 78o-4, 78o-5, 78w, 78mm, 80a-30, 80a-37, 80b-4, 80b-
11, 1681m(e), 1681s(b), 1681s-3 and note, 1681w(a)(1), 6801-6809, and
6825; and Pub. L. 111-203, secs. 1088(a)(8), (a)(10), and sec. 1088(b),
124 Stat. 1376 (2010).
    Description: The Commission and the Commodity Futures Trading
Commission (``CFTC'') (together, the ``Commissions'') jointly adopted
rules and guidelines to require certain regulated entities to establish
programs to address risks of identity theft. These rules and guidelines
implemented provisions of the Dodd-Frank Act, which amended the Fair
Credit Reporting Act and directed the Commissions to adopt rules
requiring entities that are subject to the Commissions' respective
enforcement authorities to address identity theft. First, the rules
required financial institutions and creditors to develop and implement
a written identity theft prevention program designed to detect,
prevent, and mitigate identity theft in connection with certain
existing accounts or the opening of new accounts. The rules included
guidelines to assist entities in the formulation and maintenance of
programs that would satisfy the requirements of the rules. Second, the
rules established special requirements for any credit and debit card
issuers that are subject to the Commissions' respective enforcement
authorities, to assess the validity of notifications of changes of
address under certain circumstances.
    Prior RFA Analysis: When the Commissions adopted the new rules on
April 10, 2013, the Commission published a Final Regulatory Flexibility
Analysis in the adopting release, Release No. 34-69359, available at:
https://www.federalregister.gov/documents/2013/04/19/2013-08830/identity-theft-red-flags-rules. The Commission received no comments on
its Initial Regulatory Flexibility Analysis published in the proposing
release, Release No. IC-29969 (Feb.27, 2012), available at: https://www.federalregister.gov/documents/2012/03/06/2012-5157/identity-theft-red-flags-rules.
* * * * *
    Title: Lost Securityholders and Unresponsive Payees.
    Citation: 17 CFR 240.15b1-6 and 17 CFR 240.17Ad-17.
    Authority: 15 U.S.C. 77c, 77d, 77g, 77j, 77s, 77z-2, 77z-3, 77eee,
77ggg, 77nnn, 77sss, 77ttt, 78c, 78d, 78e, 78f, 78g, 78i, 78j, 78j-1,
78k, 78k-1, 78l, 78ll, 78m, 78mm, 78n, 78n-1, 78o, 78o-4, 78p, 78q,
78q-1, 78s, 78u-5, 78w, 78x, 80a-20, 80a- 23, 80a-29, 80a-37, 80b-3,
80b-4, 80b-11, and 7201 et seq., 18 U.S.C. 1350, and 12 U.S.C.
5221(e)(3), unless otherwise noted.
    Description: The Commission adopted amendments to Rule 17Ad-17 to
implement the requirements of Section 929W of the Dodd-Frank Act.
Section 929W added to Section 17A of the Exchange Act subsection (g),
``Due Diligence for the Delivery of Dividends, Interest, and Other
Valuable Property Rights,'' which directs the Commission to revise
Exchange Act Rule 17Ad-17, ``Transfer Agents' Obligation to Search for
Lost Securityholders'' to: extend the requirements of Rule 17Ad-17 to
search

for lost securityholders from only recordkeeping transfer agents to
brokers and dealers as well; add a requirement that ``paying agents''
notify ``unresponsive payees'' that a paying agent has sent a
securityholder a check that has not yet been negotiated; and add
certain other provisions. The Commission also adopted conforming
amendment to Rule 17Ad-7(i) and new Rule 15b1-6, a technical rule to
help ensure that brokers and dealers have notice of their new
obligations with respect to lost securityholders and unresponsive
payees.
    Prior RFA Analysis: When the Commission adopted the rule amendments
on January 16, 2013, it published a Final Regulatory Flexibility
Analysis in the adopting release, Release No. 34-68668, available at:
https://www.federalregister.gov/documents/2013/01/23/2013-01269/lost-securityholders-and-unresponsive-payees. The Commission solicited
comment on the Initial Regulatory Flexibility Analysis included in the
proposing release, Release No. 34-64099 (March 18, 2011), available at:
https://www.federalregister.gov/documents/2011/03/25/2011-6940/rule-17ad-17-transfer-agents-brokers-and-dealers-obligation-to-search-for-lost-securityholders, and considered comments received at that time.
* * * * *

    By the Commission.

    Dated: November 28, 2022
Vanessa A. Countryman,
Secretary.
[FR Doc. 2022-26133 Filed 12-1-22; 8:45 am]
BILLING CODE 8011-01-P