[Federal Register Volume 85, Number 174 (Tuesday, September 8, 2020)]
[Notices]
[Pages 55446-55448]
[FR Doc No: 2020-19778]

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ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-OPP-2017-0720; FRL-10012-58]

Pesticide Registration Review; Draft Human Health and/or
Ecological Risk Assessments for Several Pesticides for DDVP, Naled, and
Trichlorfon; Notice of Availability

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice.

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SUMMARY: This notice announces the availability of EPA's draft human
health and/or ecological risk assessments for the registration review
of DDVP, naled, and trichlorfon.

DATES: Comments must be received on or before November 9, 2020.

ADDRESSES: Submit your comments, to the docket identification (ID)
number for the specific pesticide of interest provided in the Table in
Unit IV, by one of the following methods:
     Federal eRulemaking Portal: http://www.regulations.gov.
Follow the online instructions for submitting comments. Do not submit
electronically any information you consider to be Confidential Business
Information (CBI) or other information whose disclosure is restricted
by statute.
     Mail: OPP Docket, Environmental Protection Agency Docket
Center (EPA/DC), (28221T), 1200 Pennsylvania Ave. NW, Washington, DC
20460-0001.
     Hand Delivery: To make special arrangements for hand
delivery or delivery of boxed information, please follow the
instructions at http://www.epa.gov/dockets/contacts.html.
    Please note that due to the public health emergency the EPA Docket
Center (EPA/DC) and Reading Room was closed to public visitors on March
31, 2020. Our EPA/DC staff will continue to provide customer service
via email, phone, and webform. For further information on EPA/DC
services, docket contact information and the current status of the EPA/
DC and Reading Room, please visit https://www.epa.gov/dockets.

FOR FURTHER INFORMATION CONTACT: For pesticide specific information
contact: The Chemical Review Manager for the pesticide of interest
identified in the Table in Unit IV.
    For general questions on the registration review program, contact:
Melanie Biscoe, Pesticide Re-Evaluation Division (7508P), Office of
Pesticide Programs, Environmental Protection Agency, 1200 Pennsylvania
Ave. NW, Washington, DC 20460-0001; telephone number:<PHONE_NUMBER>;
email address<EMAIL_ADDRESS>

SUPPLEMENTARY INFORMATION:

I. General Information

A. Does this action apply to me?

    This action is directed to the public in general, and may be of
interest to a wide range of stakeholders including environmental, human
health, farm worker, and agricultural advocates; the chemical industry;
pesticide users; and members of the public interested in the sale,
distribution, or use of pesticides. Since others also may be
interested, the Agency has not attempted to describe all the specific
entities that may be affected by this action. If you have any questions
regarding the applicability of this action to a particular entity,
consult the Chemical Review Manager identified in the Table in Unit IV.

B. What should I consider as I prepare my comments for EPA?

    1. Submitting CBI. Do not submit this information to EPA through
regulations.gov or email. Clearly mark the part or all of the
information that you claim to be CBI. For CBI information in a disk or
CD-ROM that you mail to EPA, mark the outside of the disk or CD-ROM as
CBI and then identify electronically within the disk or CD-ROM the
specific information that is claimed as CBI. In addition to one
complete version of the comment that includes information claimed as
CBI, a copy of the comment that does not contain the information
claimed as CBI must be submitted for inclusion in the public docket.
Information so marked will not be disclosed except in accordance with
procedures set forth in 40 CFR part 2.
    2. Tips for preparing your comments. When preparing and submitting
your comments, see the commenting tips at http://www.epa.gov/dockets/comments.html.
    3. Environmental justice. EPA seeks to achieve environmental
justice, the fair treatment and meaningful involvement of any group,
including minority and/or low-income populations, in the development,
implementation, and enforcement of environmental laws, regulations, and
policies. To help address potential environmental justice issues, the
Agency seeks information on any groups or segments of the population
who, as a result of their location, cultural practices, or other
factors, may have atypical or disproportionately high and adverse human
health impacts or environmental effects from exposure to the pesticides
discussed in this document, compared to the general population.

II. Background

    Registration review is EPA's periodic review of pesticide
registrations to ensure that each pesticide continues to satisfy the
statutory standard for registration, that is, the pesticide can perform
its intended function without unreasonable adverse effects on human
health or the environment. As part of the registration review process,
the Agency has completed comprehensive draft human health and/or
ecological risk assessments for all pesticides listed in the Table in
Unit IV. After reviewing comments received during the public comment
period, EPA may issue a revised risk assessment, explain any changes to
the draft risk assessment, and respond to comments and may request
public input on risk mitigation before completing a proposed
registration review decision for the pesticides listed in the Table in
Unit IV. Through this program, EPA is ensuring that each pesticide's
registration is based on current scientific and other knowledge,
including its effects on human health and the environment.

III. Authority

    EPA is conducting its registration review of the chemicals listed
in the Table in Unit IV pursuant to section 3(g) of the Federal
Insecticide, Fungicide, and Rodenticide Act (FIFRA) and the Procedural
Regulations for Registration Review at 40 CFR part 155, subpart C.
Section 3(g) of FIFRA provides, among other things, that the
registrations of pesticides are to be reviewed every 15 years. Under
FIFRA, a pesticide product may be registered or remain registered only
if it meets the statutory standard for registration given in FIFRA
section 3(c)(5) (7 U.S.C. 136a(c)(5)). When used in accordance with
widespread and commonly recognized practice, the pesticide product must
perform its intended function without unreasonable adverse effects on
the environment; that is, without any unreasonable risk to man or the
environment, or a human dietary risk from residues that result from the
use of a pesticide in or on food.

IV. What action is the Agency taking?

    Pursuant to 40 CFR 155.58, this notice announces the availability
of EPA's human health and/or ecological risk assessments for the
pesticides shown in the following table and opens a 60-day public
comment period on the risk assessments.

  Table--Draft Risk Assessments Being Made Available for Public Comment
------------------------------------------------------------------------
                                                      Chemical review
 Registration review case name    Docket ID No.     manager and contact
          and number                                    information
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DDVP (dichlorvos), Case 0310..  EPA-HQ-OPP-2009-0  Carolyn Smith,
                                 209<EMAIL_ADDRESS>(703) 347-8325.
Naled, Case 0092..............  EPA-HQ-OPP-2009-0  Anna Romanovsky,
                                 053<EMAIL_ADDRESS>(703) 347-0203.
Trichlorfon, Case 0104........  EPA-HQ-OPP-2009-0  Christian Bongard,
                                 097<EMAIL_ADDRESS>(703) 347-
                                                    0337.
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    Pursuant to 40 CFR 155.53(c), EPA is providing an opportunity,
through this notice of availability, for interested parties to provide
comments and input concerning the Agency's draft human health and/or
ecological risk assessments for the pesticides listed in the Table in
Unit IV. The Agency will consider all comments received during the
public comment period and make changes, as appropriate, to a draft
human health and/or ecological risk assessment. EPA may then issue a
revised risk assessment, explain any changes to the draft risk
assessment, and respond to comments.
    Information submission requirements. Anyone may submit data or
information in response to this document. To be considered during a
pesticide's registration review, the submitted data or information must
meet the following requirements:
     To ensure that EPA will consider data or information
submitted, interested persons must submit the data or information
during the comment period. The Agency may, at its discretion, consider
data or information submitted at a later date.
     The data or information submitted must be presented in a
legible and useable form. For example, an English translation must
accompany any material that is not in English and a written transcript
must accompany any information submitted as an audio-graphic or video-
graphic record. Written material may be submitted in paper or
electronic form.

     Submitters must clearly identify the source of any
submitted data or information.
     Submitters may request the Agency to reconsider data or
information that the Agency rejected in a previous review. However,
submitters must explain why they believe the Agency should reconsider
the data or information in the pesticide's registration review.
    As provided in 40 CFR 155.58, the registration review docket for
each pesticide case will remain publicly accessible through the
duration of the registration review process; that is, until all actions
required in the final decision on the registration review case have
been completed.

    Authority: 7 U.S.C. 136 et seq.

    Dated: August 25, 2020.
Mary Reaves,
Acting Director, Pesticide Re-Evaluation Division, Office of Pesticide
Programs.
[FR Doc. 2020-19778 Filed 9-4-20; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register Volume 79, Number 94 (Thursday, May 15, 2014)]
[Notices]
[Pages 27958-27961]
[FR Doc No: 2014-11156]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-72138; File No. SR-NYSEArca-2014-23]

Self-Regulatory Organizations; NYSE Arca, Inc.; Order Approving a
Proposed Rule Change to List and Trade Shares of the iShares Interest
Rate Hedged Corporate Bond ETF and iShares Interest Rate Hedged High
Yield Bond ETF Under NYSE Arca Equities Rule 8.600

May 9, 2014.

I. Introduction

    On March 19, 2014, NYSE Arca, Inc. (``Exchange'' or ``NYSE Arca'')
filed with the Securities and Exchange Commission (``Commission''),
pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 1934
(``Exchange Act'') \2\ and Rule 19b-4 thereunder,\3\ a proposed rule
change to list and trade shares (``Shares'') of the iShares Interest
Rate Hedged Corporate Bond ETF and iShares Interest Rate Hedged High
Yield Bond ETF (each, a ``Fund'' and collectively, the ``Funds''). The
proposed rule change was published for comment in the Federal Register
on March 28, 2014.\4\ The Commission received no comments on the
proposal. This order approves the proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
    \4\ See Securities Exchange Act Release No. 71778 (March 24,
2014), 79 FR 17585 (``Notice'').
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II. Description of the Proposed Rule Change

    The Exchange proposes to list and trade the Shares under NYSE Arca
Equities Rule 8.600, which governs the listing and trading of Managed
Fund Shares on the Exchange. The Shares will be offered by iShares U.S.
ETF Trust (``Trust''). The Trust is registered with the Commission as
an open-end management investment company.\5\ BlackRock Fund Advisors
(``BFA'') will serve as the investment adviser to the Funds
(``Adviser''). BlackRock Investments, LLC will be the principal
distributor of the Funds' Shares. State Street Bank and Trust Company
will serve as the administrator, custodian, and transfer agent for the
Funds. The Exchange represents that the Adviser is not registered as a
broker-dealer, but is affiliated with multiple broker-dealers and has
implemented a fire wall with respect to its broker-dealer affiliates
regarding access to information concerning the composition of and
changes to each Fund's portfolio.\6\
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    \5\ The Trust is registered under the 1940 Act. On August 22,
2013, the Trust filed with the Commission post-effective amendments
on Form N-1A under the Securities Act of 1933 (15 U.S.C. 77a) and
under the 1940 Act relating to the iShares Interest Rate Hedged
Corporate Bond ETF (the ``Corporate Bond Registration Statement'')
and the iShares Interest Rate Hedged High Yield Bond ETF (the ``High
Yield Registration Statement'' and together with the Corporate Bond
Registration Statement, the ``Registration Statements'') (File Nos.
333-179904 and 811-22649). In addition, the Exchange states that the
Commission has issued an order granting certain exemptive relief to
the Trust under the 1940 Act. See Investment Company Act Release No.
29571 (File No. 812-13601) (``Exemptive Order'').
    \6\ See Commentary .06 to NYSE Arca Equities Rule 8.600. The
Exchange represents that in the event (a) the Adviser or any sub-
adviser registers as a broker-dealer or becomes newly affiliated
with a broker-dealer, or (b) any new adviser or sub-adviser is a
registered broker-dealer or becomes affiliated with a broker-dealer,
it will implement a fire wall with respect to its relevant personnel
or its broker-dealer affiliate regarding access to information
concerning the composition of or changes to a Fund's portfolio, and
will be subject to procedures designed to prevent the use and
dissemination of material non-public information regarding a Fund's
portfolio.
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    The Exchange has made the following representations and statements
regarding the Funds.\7\
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    \7\ Additional information regarding the Trust, the Funds, and
the Shares, investment strategies, investment restrictions, risks,
net asset value (``NAV'') calculation, creation and redemption
procedures, fees, portfolio holdings, disclosure policies,
distributions, and taxes, among other information, is included in
the Notice and the Registration Statement, as applicable. See Notice
and Registration Statement, supra notes 4 and 5, respectively.
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 iShares Interest Rate Hedged Corporate Bond ETF

    The Fund will seek to mitigate the interest rate risk of a
portfolio composed of U.S. dollar-denominated, investment grade
corporate bonds. The Fund will seek to achieve its investment objective
by investing, under normal circumstances,\8\ at least 80% of its net
assets in U.S. dollar-denominated investment-grade bonds, in one or
more investment companies (exchange-traded and non-exchange-traded
funds) that principally invest in investment-grade bonds,\9\ in U.S.
Treasury securities (or cash equivalents), and by taking short
positions in U.S. Treasury futures and other interest rate futures
contracts.
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    \8\ The term ``under normal circumstances'' includes, but is not
limited to, the absence of extreme volatility or trading halts in
the equity markets or the financial markets generally; operational
issues causing dissemination of inaccurate market information; or
force majeure type events such as systems failure, natural or man-
made disaster, act of God, armed conflict, act of terrorism, riot or
labor disruption or any similar intervening circumstance.
    \9\ Initially, the Fund intends to invest a substantial portion
of its assets in the iShares iBoxx $ Investment Grade Corporate Bond
ETF (the ``Underlying Corporate Bond Fund'').
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    The Fund will attempt to mitigate interest rate risk primarily
through the use of U.S. Treasury futures contracts. The Fund may also
take short positions in other interest rate futures contracts,
including but not limited to, Eurodollar and Federal Funds futures. The
Fund will invest only in futures contracts that are traded on an
exchange that is a member of the Intermarket Surveillance Group
(``ISG'') or with which the Exchange has in place a comprehensive
surveillance sharing agreement.

iShares Interest Rate Hedged High Yield Bond ETF

    The Fund will seek to mitigate the interest rate risk of a
portfolio composed of U.S. dollar-denominated, high yield corporate
bonds. The Fund will seek to achieve its investment objective by
investing, under normal circumstances, at least 80% of its net assets
in U.S. dollar-denominated high yield corporate bonds, in one or more
investment companies (exchange-traded and non-

exchange-traded funds) that principally invest in high yield bonds, in
U.S. Treasury securities (or cash equivalents),\10\ and by taking short
positions in U.S. Treasury futures and other interest rate futures
contracts.
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    \10\ Initially, the Fund intends to invest a substantial portion
of its assets in the iShares iBoxx $ High Yield Corporate Bond ETF
(the ``Underlying High Yield Bond Fund'' and together with the
Underlying Corporate Bond Fund, the ``Underlying Funds'').
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    The Fund will attempt to mitigate interest rate risk primarily
through the use of U.S. Treasury futures contracts. The Fund may also
take short positions in other interest rate futures contracts,
including but not limited to, Eurodollar and Federal Funds futures. The
Fund will invest only in futures contracts that are traded on an
exchange that is a member of the ISG or with which the Exchange has in
place a comprehensive surveillance sharing agreement.

Other Investments

    While each Fund, under normal circumstances, will invest at least
80% of its net assets in its investments as described above, a Fund may
directly invest in certain other investments, as described below.
    Each Fund may invest in repurchase and reverse repurchase
agreements. A repurchase agreement is an instrument under which the
purchaser (i.e., a Fund or an Underlying Fund) acquires the security
and the seller agrees, at the time of the sale, to repurchase the
security at a mutually agreed upon time and price, thereby determining
the yield during the purchaser's holding period. Reverse repurchase
agreements involve the sale of securities with an agreement to
repurchase the securities at an agreed-upon price, date and interest
payment and have the characteristics of borrowing.
    Each Fund may invest in money market instruments on an ongoing
basis to provide liquidity or for other reasons. Money market
instruments are generally short-term investments that may include but
are not limited to: (i) Shares of money market funds (including those
advised by BFA or otherwise affiliated with BFA); (ii) obligations
issued or guaranteed by the U.S. government, its agencies or
instrumentalities (including government-sponsored enterprises); (iii)
negotiable certificates of deposit, bankers' acceptances, fixed-time
deposits and other obligations of U.S. and non-U.S. banks (including
non-U.S. branches) and similar institutions; (iv) commercial paper
rated, at the date of purchase, ``Prime-1'' by Moody's[supreg]
Investors Service, Inc., ``F-1'' by Fitch Inc., or ``A-1'' by Standard
& Poor's[supreg], or if unrated, of comparable quality as determined by
BFA; (v) non-convertible corporate debt securities (e.g., bonds and
debentures) with remaining maturities at the date of purchase of not
more than 397 days and that satisfy the rating requirements set forth
in Rule 2a-7 under the 1940 Act; and (vi) short-term U.S. dollar-
denominated obligations of non-U.S. banks (including U.S. branches)
that, in the opinion of BFA, are of comparable quality to obligations
of U.S. banks which may be purchased by a Fund. Any of these
instruments may be purchased on a current or forward-settled basis.
Time deposits are non-negotiable deposits maintained in banking
institutions for specified periods of time at stated interest rates.
    Each Fund may invest in options that are traded on a U.S. or non-
U.S. exchange and that reference U.S. Treasury securities. To the
extent that a Fund invests in options, not more than 10% of such
investment would be in options whose principal trading market is not a
member of ISG or is a market with which the Exchange does not have a
comprehensive surveillance sharing agreement.
    Each Fund or the Underlying Funds may invest in debt securities of
non-U.S. issuers and may invest in privately-issued debt securities.

III. Discussion and Commission Findings

    After careful review, the Commission finds that the Exchange's
proposal to list and trade the Shares is consistent with the Exchange
Act and the rules and regulations thereunder applicable to a national
securities exchange.\11\ In particular, the Commission finds that the
proposed rule change is consistent with Section 6(b)(5) of the Exchange
Act,\12\ which requires, among other things, that the Exchange's rules
be designed to prevent fraudulent and manipulative acts and practices,
to promote just and equitable principles of trade, to remove
impediments to and perfect the mechanism of a free and open market and
a national market system, and, in general, to protect investors and the
public interest. The Commission notes that the Funds and the Shares
must comply with the requirements of NYSE Arca Equities Rule 8.600 to
be listed and traded on the Exchange.
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    \11\ In approving this proposed rule change, the Commission has
considered the proposed rule's impact on efficiency, competition and
capital formation. See 15 U.S.C. 78c(f).
    \12\ 15 U.S.C. 78f(b)(5).
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    The Commission finds that the proposal to list and trade the Shares
on the Exchange is consistent with Section 11A(a)(1)(C)(iii) of the
Exchange Act,\13\ which sets forth Congress' finding that it is in the
public interest and appropriate for the protection of investors and the
maintenance of fair and orderly markets to assure the availability to
brokers, dealers, and investors of information with respect to
quotations for and transactions in securities. Quotation and last-sale
information for the Shares and the shares of the Underlying Funds and
any ETFs held by each Fund will be available via the Consolidated Tape
Association high-speed line, quotation and last sale information for
exchange-listed options contracts will be available via the Options
Price Reporting Authority. The intra-day, closing and settlement prices
of exchange-traded portfolio assets, including investment companies,
money market instruments, futures and options will be readily available
from the securities exchanges and futures exchanges trading such
securities and futures, as the case may be, automated quotation
systems, published or other public sources, or on-line information
services such as Bloomberg or Reuters. Such price information on fixed
income portfolio securities, including money market instruments, and
other Fund assets traded in over-the-counter markets including bonds
and money market instruments is available from major broker-dealer
firms or market data vendors, as well as from automated quotation
systems, published or other public sources, or online information
services. Information regarding market price and trading volume of the
Shares will be continually available on a real-time basis throughout
the day on brokers' computer screens and other electronic services.\14\
NYSE Arca expects that information regarding the previous day's closing
price and trading volume information for the Shares will be published
daily in the financial section of newspapers.\15\
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    \13\ 15 U.S.C. 78k-1(a)(1)(C)(iii).
    \14\ See id.
    \15\ See id. at 17590.
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    The Indicative Optimized Portfolio Value (``IOPV''), which is the
Portfolio Indicative Value as defined in NYSE Arca Equities Rule
8.600(c)(3), will be widely disseminated at least every 15 seconds
during the Core Trading Session by one or more major market data
vendors.\16\ The net asset value

(``NAV'') of each Fund normally will be determined once each business
day, generally as of the regularly scheduled close of business of the
New York Stock Exchange (``NYSE'') (normally 4:00 p.m., Eastern time)
on each day that the NYSE is open for trading.\17\ The Funds' Web site
will include a form of the prospectus for each Fund and additional
quantitative information updated on a daily basis, including, (1) the
prior business day's reported closing price, NAV, and mid-point of the
bid/ask spread at the time of calculation of such NAV (``Bid/Ask
Price''),\18\ and a calculation of the premium and discount of the Bid/
Ask Price against the NAV, and (2) data in chart format displaying the
frequency distribution of discounts and premiums of the daily Bid/Ask
Price against the NAV, within appropriate ranges, for each of the four
previous calendar quarters.\19\
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    \16\ See Notice, supra note 4, 79 FR at 17590. The IOPV
calculations will be estimates of the value of a Fund's NAV per
Share using market data converted into U.S. dollars at the current
currency rates. The IOPV price will be based on quotes and closing
prices from the securities' local market and may not reflect events
that occur subsequent to the local market's close. The quotations of
certain Fund holdings may not be updated during U.S. trading hours
if such holdings do not trade in the United States. See id.
    \17\ See id. at 17589.
    \18\ The Bid/Ask Price of a Fund will be determined using the
mid-point of the highest bid and the lowest offer on the Exchange as
of the time of calculation of a Fund's NAV. The records relating to
Bid/Ask Prices will be retained by the Funds and their service
providers. See id.
    \19\ See id.
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    Further, the Commission believes that the proposal to list and
trade the Shares is reasonably designed to promote fair disclosure of
information that may be necessary to price the Shares appropriately and
to prevent trading when a reasonable degree of transparency cannot be
assured. On each business day, before commencement of trading in Shares
in the Core Trading Session on the Exchange, each Fund will disclose on
its Web site the Disclosed Portfolio, as defined in NYSE Arca Equities
Rule 8.600(c)(2), that will form the basis for such Fund's calculation
of NAV at the end of the business day.\20\ The Commission notes that
the Exchange will obtain a representation from the issuer of the Shares
that the NAV per Share of each Fund will be calculated daily and that
the NAV and the Disclosed Portfolio will be made available to all
market participants at the same time.\21\ In addition, a basket
composition file, which will include the security names and share
quantities required to be delivered in exchange for each Fund's Shares,
together with estimates and actual cash components, will be publicly
disseminated daily prior to the opening of the New York Stock Exchange
via the National Securities Clearing Corporation.\22\ The basket will
represent one Creation Unit of Shares of the Fund. Further, the
Commission notes that the Reporting Authority that provides the
Disclosed Portfolio must implement and maintain, or be subject to,
procedures designed to prevent the use and dissemination of material
non-public information regarding the actual components of the
portfolio.\23\ The Exchange represents that the Adviser is affiliated
with multiple broker-dealers and has implemented a fire wall with
respect to such broker-dealers regarding access to information
concerning the composition and/or changes to a portfolio, and will be
subject to procedures designed to prevent the use and dissemination of
material non-public information regarding the portfolio.\24\ The
Exchange has a general policy prohibiting the distribution of material,
non-public information by its employees.
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    \20\ See id at 17589. On a daily basis, each Fund will disclose
for each portfolio security or other financial instrument of the
Fund the following information on the Fund's Web site: ticker symbol
(if applicable), name of security or financial instrument, number of
shares (if applicable) and dollar value of securities and financial
instruments held in the portfolio, and percentage weighting of the
security and financial instrument in the portfolio. The Web site
information will be publicly available at no charge. Under
accounting procedures to be followed by the Fund, trades made on the
prior business day (``T'') will be booked and reflected in NAV on
the current business day (``T+1''). Accordingly, the Funds will be
able to disclose at the beginning of the business day the portfolio
that will form the basis for the NAV calculation at the end of the
business day. See id.
    \21\ See id. at 17588.
    \22\ See id. at 17589.
    \23\ See NYSE Arca Equities Rule 8.600(d)(2)(B)(ii).
    \24\ See supra note 6 and accompanying text.
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    With respect to trading halts, the Exchange may consider all
relevant factors in exercising its discretion to halt or suspend
trading in the Shares of the Funds.\25\ Trading in Shares of a Fund
will be halted if the circuit breaker parameters in NYSE Arca Equities
Rule 7.12 have been reached. Trading also may be halted because of
market conditions or for reasons that, in the view of the Exchange,
make trading in the Shares inadvisable. These may include: (1) The
extent to which trading is not occurring in the securities and/or the
financial instruments comprising the Disclosed Portfolio of a Fund; or
(2) whether other unusual conditions or circumstances detrimental to
the maintenance of a fair and orderly market are present. Trading in
the Shares will be subject to NYSE Arca Equities Rule 8.600(d)(2)(D),
which sets forth circumstances under which Shares of a Fund may be
halted. If the IOPV is not being disseminated as required, the Exchange
may halt trading during the day in which the interruption occurs; if
the interruption persists past the day in which it occurred, the
Exchange will halt trading no later than the beginning of the trading
day following the interruption.\26\ The Exchange will consider the
suspension of trading in or removal from listing of the Shares if the
IOPV is no longer calculated or available or the Disclosed Portfolio is
not made available to all market participants at the same time.\27\
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    \25\ See NYSE Arca Equities Rule 7.12.
    \26\ See NYSE Arca Equities Rule 8.600(d)(2)(D).
    \27\ See NYSE Arca Equities Rule 8.600(d)(2)(C)(ii).
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    The Exchange has represented that the Shares are deemed to be
equity securities, thus rendering trading in the Shares subject to the
Exchange's rules governing the trading of equity securities.\28\ In
support of this proposal, the Exchange has made additional
representations, including:
---------------------------------------------------------------------------

    \28\ See id.
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    (1) The Shares will conform to the initial and continuing listing
criteria under NYSE Arca Equities Rule 8.600.
    (2) The Exchange's surveillance procedures are adequate to properly
monitor Exchange trading of the Shares in all trading sessions and to
deter and detect violations of Exchange rules and applicable federal
securities laws.\29\
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    \29\ FINRA surveils trading on the Exchange pursuant to a
regulatory services agreement. The Exchange is responsible for
FINRA's performance under this regulatory services agreement.
---------------------------------------------------------------------------

    (3) The Financial Industry Regulatory Authority (``FINRA''), on
behalf of the Exchange, will communicate as needed regarding trading in
the Shares as well as underlying equity securities, futures, and
options contracts held by the Funds with other markets that are members
of the ISG and FINRA, on behalf of the Exchange, may obtain trading
information regarding trading in the Shares as well as underlying
equity securities and futures from such markets and other entities. In
addition, the Exchange may obtain information regarding trading in the
Shares as well as underlying equity securities, futures, and options
contracts held by the Funds from markets and other entities that are
members of ISG or with which the Exchange has in place a comprehensive
surveillance sharing agreement.\30\ In addition, FINRA, on behalf of
the Exchange, is able to access, as needed, trade information for
certain fixed income instruments reported to FINRA's Trade Reporting
and Compliance Engine.
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    \30\ For a list of the current members of ISG, see
www.isgportal.org.
---------------------------------------------------------------------------

    (4) The Exchange has appropriate rules to facilitate transactions
in the Shares during all trading sessions.

    (5) Prior to the commencement of trading, the Exchange will inform
its Equity Trading Permit Holders (``ETP Holders'') in an Information
Bulletin of the special characteristics and risks associated with
trading the Shares. Specifically, the Information Bulletin will discuss
the following: (a) The procedures for purchases and redemptions of
Shares in Creation Unit Aggregations and that Shares are not
individually redeemable; (b) NYSE Arca Equities Rule 9.2(a), which
imposes a duty of due diligence on its ETP Holders to learn the
essential facts relating to every customer prior to trading the Shares;
(c) the risks involved in trading the Shares during the Opening and
Late Trading Sessions when an updated IOPV will not be calculated or
publicly disseminated; (d) how information regarding the IOPV is
disseminated; (e) the requirement that ETP Holders deliver a prospectus
to investors purchasing newly issued Shares prior to or concurrently
with the confirmation of a transaction; and (f) trading information.
    (6) For initial and continued listing, the Funds will be in
compliance with Rule 10A-3 under the Exchange Act,\31\ as provided by
NYSE Arca Equities Rule 5.3.\32\
---------------------------------------------------------------------------

    \31\ 17 CFR 240.10A-3.
    \32\ See Notice, supra note 4, 79 FR at 17588.
---------------------------------------------------------------------------

    (7) Each Fund's investments will be consistent with its investment
objective.
    (8) Each Fund may hold up to an aggregate amount of 15% of its net
assets in illiquid assets (calculated at the time of investment),
including Rule 144A securities deemed illiquid by the Adviser. Each
Fund will monitor its portfolio liquidity on an ongoing basis to
determine whether, in light of current circumstances, an adequate level
of liquidity is being maintained, and will consider taking appropriate
steps in order to maintain adequate liquidity if, through a change in
values, net assets, or other circumstances, more than 15% of the Fund's
net assets are held in illiquid assets.
    (9) A minimum of 100,000 Shares for each Fund will be outstanding
at the commencement of trading on the Exchange.
    This order is based on all of the Exchange's representations,
including those set forth above and in the Notice.
    For the foregoing reasons, the Commission finds that the proposed
rule change is consistent with the Exchange Act.

IV. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the
Exchange Act,\33\ that the proposed rule change (SR-NYSEArca-2014-23),
be, and it hereby is, approved.
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    \33\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\34\
---------------------------------------------------------------------------

    \34\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-11156 Filed 5-14-14; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: March 28, 2006 (Volume 71, Number 59)]
[Notices]
[Page 15411]
[DOCID:fr28mr06-62]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. ER06-432-000]

Southwest Power Pool, Inc.; Notice of Technical Conference

March 22, 2006.
    Take notice that a technical conference will be convened on Monday,
April 10, 2006, from 1 p.m. to 4 p.m. (EST), in Conference Room 3M-3 at
the offices of the Federal Energy Regulatory Commission, 888 First
Street, NE., Washington, DC 20426.
    The technical conference will deal with two issues related to
Southwest Power Pool, Inc.'s proposed credit policy, as discussed in
the Commission's February 28, 2006 Order.\1\ Specifically the
Commission directed Commission staff to examine SPP's proposed total
debt to total capitalization and debt service coverage scores and SPP's
proposed $50,000 unsecured credit floor for not-for-profit entities.\2\
The Commission found that SPP's proposal may not be just and
reasonable, and may be unjust, unreasonable, unduly discriminatory, or
otherwise unlawful. Accordingly, the Commission accepted SPP's Credit
Policy for filing and suspended it to become effective on March 1,
2006, subject to refund and the outcome of a technical conference. A
report on the technical conference is due to the Commission no later
than May 30, 2006.
---------------------------------------------------------------------------

    \1\ Southwest Power Pool, Inc., 114 FERC ] 61,222 (2006).
    \2\ Id. at P 32 and 62.
---------------------------------------------------------------------------

    Attached to this notice are questions to the parties in this
proceeding. Responses to these questions should be filed no later than
ten days before the date of the conference. The submitted information
will be discussed at the technical conference and used to supplement
the record.
    FERC conferences are accessible under section 508 of the
Rehabilitation Act of 1973. For accessibility accommodations please
send an e-mail to<EMAIL_ADDRESS>or call toll free (866) 208-
3372 (voice) or<PHONE_NUMBER> (TTY), or send a fax to<PHONE_NUMBER> with
the required accommodations.
    All interested persons are permitted to attend. For further
information please contact Jignasa Gadani at<PHONE_NUMBER> or e-mail
<EMAIL_ADDRESS>

Magalie R. Salas,
Secretary.
 [FR Doc. E6-4451 Filed 3-27-06; 8:45 am]

BILLING CODE 6717-01-P


[Federal Register Volume 81, Number 130 (Thursday, July 7, 2016)]
[Notices]
[Pages 44372-44373]
[FR Doc No: 2016-16110]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-78220; File No. SR-FINRA-2015-054]

Self-Regulatory Organizations; Financial Industry Regulatory
Authority, Inc.; Notice of Filing of Partial Amendment No. 2 to
Proposed Rule Change To Adopt FINRA Capital Acquisition Broker Rules

July 1, 2016.

I. Introduction

    On December 4, 2015, Financial Industry Regulatory Authority, Inc.
(``FINRA'') filed with the Securities and Exchange Commission (the
``SEC'' or ``Commission'') proposed rule change SR-FINRA-2015-054,
pursuant to which FINRA proposed to adopt a rule set that would apply
exclusively to firms that meet the definition of ``capital acquisition
broker'' (``CAB'') and that elect to be governed under this rule set
(collectively, the ``CAB Rules'').
    The Commission published the proposed rule change for public
comment in the Federal Register on December 23, 2015.\1\ The Commission
received 17 comments in response to the proposed rule change.\2\ On
March 23, 2016, the Commission published in the Federal Register an
order to solicit comments on the proposed rule change and to institute
proceedings pursuant to Section 19(b)(2)(B) of the Securities Exchange
Act of 1934 (the ``Exchange Act'') \3\ to determine whether to approve
or disapprove the proposed rule change.\4\ The Commission received one
comment in response to the Order Instituting Proceedings.\5\
---------------------------------------------------------------------------

    \1\ Securities Exchange Act Release No. 76675 (December 17,
2015), 80 FR 79969 (December 23, 2015) (Notice of Filing File No.
SR-FINRA-2015-054).
    \2\ Letters from Roger W. Mehle, Chairman and CEO, Archates
Capital Advisors LLC, dated December 29, 2015; Daniel H. Kolber,
President/CEO, Intellivest Securities, Inc., dated December 30,
2016; Arne Rovell, Coronado Investments, LLC, dated January 6, 2016;
Donna DiMaria, Chairman of the Board of Directors, and Lisa Roth,
Board of Directors, Third Party Marketers Association, dated January
12, 2016; Frank P. L. Minard, Managing Partner, XT Capital Partners,
LLC, dated January 12, 2016; Timothy Cahill, President, Compass
Securities Corporation, dated January 13, 2016; Mark Fairbanks,
President, Foreside Distributors, dated January 13, 2016; Dan
Glusker, Perkins Fund Marketing, LLC, dated January 13, 2016; Steven
Jafarzadeh, CAIA, Managing Director, CCO Partner, Stonehaven, dated
January 13, 2016; Richard A. Murphy, Manager, North Bridge Capital
LLC, dated January 13, 2016; Ron Oldenkamp, President, Genesis
Marketing Group, dated January 13, 2016; Michael S. Quinn, Member
and CCO, Q Advisors LLC, dated January 13, 2016; Lisa Roth,
President, Monahan & Roth, LLC, dated January 13, 2016; Howard
Spindel, Senior Managing Director, and Cassondra E. Joseph, Managing
Director, Integrated Management Solutions USA LLC, dated January 13,
2016; Sajan K. Thomas, President, and Stephen J. Myott, Chief
Compliance Officer, Thomas Capital Group, Inc., dated January 13,
2016; Judith M. Shaw, President, North American Securities
Administrators Association, Inc., dated January 15, 2016; and Peter
W. LaVigne, Esq., Chair, Securities Regulation Committee, Business
Law Section, New York State Bar Association, dated January 22, 2016.
    \3\ 15 U.S.C. 78s(b)(2)(B).
    \4\ Securities Exchange Act Release No. 77391 (March 17, 2016),
81 FR 15588 (March 23, 2016) (Order Instituting Proceedings on File
No. SR-FINRA-2015-054).
    \5\ Letter from Howard Spindel, Senior Managing Director, and
Cassondra E. Joseph, Managing Director, Integrated Solutions, dated
April 8, 2016.
---------------------------------------------------------------------------

    In response to comments on the Notice of Filing, on March 29, 2016,
FINRA filed Partial Amendment No. 1, which amended proposed CAB Rule
016(c)(2) to clarify that the definition of ``capital acquisition
broker'' does not include any broker or dealer that effects securities
transactions that would require the broker or dealer to report the
transaction under the FINRA Rules 6300 Series, 6400 Series, 6500
Series, 6600 Series, 6600 Series, 6700 Series, 7300 Series or 7400
Series. The Commission published Partial Amendment No. 1 for comment in
the Federal Register on April 15, 2016.\6\ The Commission received one
comment in response to the Partial Amendment No. 1.\7\
---------------------------------------------------------------------------

    \6\ Securities Exchange Act Release No. 77581 (April 11, 2016),
81 FR 22333 (April 15, 2016) (Notice of Filing of Partial Amendment
No. 1 to File No. SR-FINRA-2015-054).
    \7\ Letter from Anonymous dated May 3, 2016.
---------------------------------------------------------------------------

    On June 28, 2016, FINRA filed Partial Amendment No. 2 to its
proposed rule change in response to comments on the Notice of Filing.
Partial Amendment No. 2 is described in Item II below, which has been
prepared by FINRA. The Commission is publishing this notice to solicit
comments on Partial Amendment No. 2 from interested persons.

II. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Amendment

    In response to comments on the Notice of Filing, the Order
Instituting Proceedings, and Partial Amendment No. 1, FINRA filed this
Partial Amendment No. 2 to amend proposed CAB Rule 016(c)(1)(F)
regarding a CAB's authority to engage in qualifying, identifying,
soliciting, or acting as a placement agent or finder in connection with
unregistered securities transactions. As revised by Partial Amendment
No. 2, a CAB would be permitted to engage in:

qualifying, identifying, soliciting, or acting as a placement agent
or finder (i) on behalf of an issuer in connection with a sale of
newly-issued, unregistered securities to institutional investors or
(ii) on behalf of an issuer or a control person in connection with a
change of control of a privately-held company. For purposes of this
subparagraph a ``control person'' is a person who has the power to
direct the management or policies of a company through ownership of
securities, by contract, or otherwise. Control will be presumed to
exist if, before the transaction, the person has the right to vote
or the power to sell or direct the sale of 25% or more of a class of
voting securities or in the case of a partnership or limited
liability company has the right to receive upon dissolution or has
contributed 25% or more of the capital. For purposes of this
subparagraph a ``privately-held company'' is a company that does not
have any class of securities registered, or required to be
registered, with the Securities and Exchange Commission under
Section 12 of the Exchange Act or with respect to which the company
files, or is required to file, periodic information, documents, or
reports under Section 15(d) of the Exchange Act.

    The purpose of this proposed rule change is to provide a rule set
for member firms that advise companies on mergers and acquisitions,
advise issuers on raising debt and equity capital in private placements
with institutional investors, or provide advisory services on a
consulting basis to companies that need assistance analyzing their
strategic and financial alternatives. Consistent with this purpose,
this amendment would narrow the range of activities that a CAB would be
permitted to engage in with regard to securities transactions involving
institutional investors. Previously proposed CAB Rule 016(c)(1)(F)
would have permitted a CAB to engage in qualifying, identifying,
soliciting, or acting as a placement agent or finder with respect to
institutional investors in connection with purchases or sales of
unregistered securities. This authority would have been limited by
proposed CAB Rule 016(c)(2), which would have prohibited CABs from
effecting securities transactions that would require the broker or
dealer to report the transaction under the FINRA trade reporting
rules.\8\
---------------------------------------------------------------------------

    \8\ FINRA Rules 6300 Series, 6400 Series, 6500 Series, 6600
Series, 6700 Series, 7300 Series and 7400 Series.
---------------------------------------------------------------------------

    As amended, a CAB would be permitted to engage in qualifying,
identifying, soliciting, or acting as a placement agent or finder (i)
on behalf of an issuer in connection with a sale of

newly-issued, unregistered securities to institutional investors or
(ii) on behalf of an issuer or a control person in connection with a
change of control of a privately-held company. ``Control'' and
``privately-held company'' would have the same meanings as those terms
had in the SEC staff's 2014 M&A Brokers no-action letter.\9\
---------------------------------------------------------------------------

    \9\ See M&A Brokers, 2014 SEC No-Act LEXIS 92 (January 31,
2014).
---------------------------------------------------------------------------

    Accordingly, under revised proposed CAB Rule 016(c)(1)(F), a CAB
would be permitted to qualify, identify, solicit or act as a placement
or agent only in two circumstances. First, a CAB could perform these
functions on behalf of an issuer in connection with an initial offering
of unregistered securities to institutional investors (as such term is
defined in proposed CAB Rule 016(i)). Second, a CAB could perform these
functions on behalf of an issuer or control person in connection with
an initial or secondary securities transaction related to a change of
control of a privately-held company. Except as described in proposed
CAB Rules 016(c)(1)(F)(ii) and 016(c)(1)(G),\10\ a CAB would not
otherwise be permitted to engage in qualifying, identifying,
soliciting, or acting as a placement agent or finder in connection with
secondary securities transactions.
---------------------------------------------------------------------------

    \10\ Proposed CAB Rule 016(c)(1)(G) would allow a CAB to effect
securities transactions solely in connection with the transfer of
ownership and control of a privately-held company through the
purchase, sale, exchange, issuance, repurchase, or redemption of, or
a business combination involving, securities or assets of the
company, to a buyer that will actively operate the company or the
business conducted with the assets of the company, in accordance
with the terms and conditions of an SEC rule, release,
interpretation or no-action letter that permits a person to engage
in such activities without having to register as a broker or dealer
pursuant to Section 15(b) of the Exchange Act.
---------------------------------------------------------------------------

    With this Partial Amendment No. 2, FINRA included (1) Exhibit 4,
which reflects changes to the text of the proposed rule change pursuant
to this Partial Amendment No. 2, marked to show additions to the text
as proposed in the original filing as amended by Partial Amendment No.
1; and (2) Exhibit 5, which reflects the changes to the current rule
text that are proposed in the proposed rule change, as amended by this
Partial Amendment No. 2.

III. Date of Effectiveness of the Proposed Rule Change as Modified by
Partial Amendments No. 1 and No. 2 and Timing for Commission Action

    Within 180 days after the date of publication of the initial Notice
of Filing in the Federal Register or within such longer period up to an
additional 60 days (i) as the Commission may designate if it finds such
longer period to be appropriate and publishes its reasons for so
finding or (ii) as to which the self-regulatory organization consents,
the Commission will issue an order approving or disapproving such
proposed rule change, as amended.

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views and
arguments concerning the foregoing, including whether the proposed rule
change, as amended by Partial Amendment No. 2, is consistent with the
Exchange 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-FINRA-2015-054 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-FINRA-2015-054. 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 such filing also will be available
for inspection and copying at the principal office of FINRA.
    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-FINRA-2015-054
and should be submitted on or before July 18, 2016.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
---------------------------------------------------------------------------

    \11\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Brent J. Fields,
Secretary.
[FR Doc. 2016-16110 Filed 7-6-16; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 84, Number 190 (Tuesday, October 1, 2019)]
[Rules and Regulations]
[Pages 51971-51973]
[FR Doc No: 2019-20989]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 97

[Docket No. 31274; Amdt. No. 3871]

Standard Instrument Approach Procedures, and Takeoff Minimums and
Obstacle Departure Procedures; Miscellaneous Amendments

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final rule.

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SUMMARY: This rule establishes, amends, suspends, or removes Standard
Instrument Approach Procedures (SIAPs) and associated Takeoff Minimums
and Obstacle Departure Procedures (ODPs) for operations at certain
airports. These regulatory actions areneeded because of the adoption of
new or revised criteria, or because of changes occurring in the
National Airspace System, such as the commissioning of new navigational
facilities, adding new obstacles, or changing air traffic requirements.
These changes are designed to provide safe and efficient use of the
navigable airspace and to promote safe flight operations under
instrument flight rules at the affected airports.

DATES: This rule is effective October 1, 2019. The compliance date for
each SIAP, associated Takeoff Minimums, and ODP is specified in the
amendatory provisions.
    The incorporation by reference of certain publications listed in
the regulations is approved by the Director of the Federal Register as
of October 1, 2019.

ADDRESSES: Availability of matters incorporated by reference in the
amendment is as follows:

For Examination

    1. U.S. Department of Transportation, Docket Ops-09M30, 1200 New
Jersey Avenue SE, West Bldg., Ground Floor, Washington, DC 20590-0001.
    2. The FAA Air Traffic Organization Service Area in which the
affected airport is located;
    3. The office of Aeronautical Navigation Products, 6500 South
MacArthur Blvd., Oklahoma City, OK 73169 or,
    4. The National Archives and Records Administration (NARA). For
information on the availability of this material at NARA, email
<EMAIL_ADDRESS>or go to: https://www.archives.gov/federal-register/cfr/ibr-locations.html.

Availability

    All SIAPs and Takeoff Minimums and ODPs are available online free
of charge. Visit the National Flight Data Center at nfdc.faa.gov to
register. Additionally, individual SIAP and Takeoff Minimums and ODP
copies may be obtained from the FAA Air Traffic Organization Service
Area in which the affected airport is located.

FOR FURTHER INFORMATION CONTACT: Thomas J. Nichols, Flight Procedures
and Airspace Group, Flight Technologies and Procedures Division, Flight
Standards Service, Federal Aviation Administration. Mailing Address:
FAA Mike Monroney Aeronautical Center, Flight Procedures and Airspace
Group, 6500 South MacArthur Blvd., Registry Bldg. 29, Room 104,
Oklahoma City, OK 73169. Telephone:<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: This rule amends Title 14 of the Code of
Federal Regulations, Part 97 (14 CFR part 97), by establishing,
amending, suspending, or removes SIAPS, Takeoff Minimums and/or ODPS.
The complete regulatory description of each SIAP and its associated
Takeoff Minimums or ODP for an identified airport is listed on FAA

form documents which are incorporated by reference in this amendment
under 5 U.S.C. 552(a), 1 CFR part 51, and 14 CFR part 97.20. The
applicable FAA forms are FAA Forms 8260-3, 8260-4, 8260-5, 8260-15A,
and 8260-15B when required by an entry on 8260-15A.
    The large number of SIAPs, Takeoff Minimums and ODPs, their complex
nature, and the need for a special format make publication in the
Federal Register expensive and impractical. Further, airmen do not use
the regulatory text of the SIAPs, Takeoff Minimums or ODPs, but instead
refer to their graphic depiction on charts printed by publishers of
aeronautical materials. Thus, the advantages of incorporation by
reference are realized and publication of the complete description of
each SIAP, Takeoff Minimums and ODP listed on FAA form documents is
unnecessary. This amendment provides the affected CFR sections and
specifies the types of SIAPs, Takeoff Minimums and ODPs with their
applicable effective dates. This amendment also identifies the airport
and its location, the procedure, and the amendment number.

Availability and Summary of Material Incorporated by Reference

    The material incorporated by reference is publicly available as
listed in the ADDRESSES section.
    The material incorporated by reference describes SIAPS, Takeoff
Minimums and/or ODPS as identified in the amendatory language for part
97 of this final rule.

The Rule

    This amendment to 14 CFR part 97 is effective upon publication of
each separate SIAP, Takeoff Minimums and ODP as Amended in the
transmittal. Some SIAP and Takeoff Minimums and textual ODP amendments
may have been issued previously by the FAA in a Flight Data Center
(FDC) Notice to Airmen (NOTAM) as an emergency action of immediate
flight safety relating directly to published aeronautical charts.
    The circumstances that created the need for some SIAP and Takeoff
Minimums and ODP amendments may require making them effective in less
than 30 days. For the remaining SIAPs and Takeoff Minimums and ODPs, an
effective date at least 30 days after publication is provided.
    Further, the SIAPs and Takeoff Minimums and ODPs contained in this
amendment are based on the criteria contained in the U.S. Standard for
Terminal Instrument Procedures (TERPS). In developing these SIAPs and
Takeoff Minimums and ODPs, the TERPS criteria were applied to the
conditions existing or anticipated at the affected airports. Because of
the close and immediate relationship between these SIAPs, Takeoff
Minimums and ODPs, and safety in air commerce, I find that notice and
public procedure under 5 U.S.C. 553(b) are impracticable and contrary
to the public interest and, where applicable, under 5 U.S.C. 553(d),
good cause exists for making some SIAPs effective in less than 30 days.
    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.
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. For the same reason, the FAA
certifies that this amendment will not have a significant economic
impact on a substantial number of small entities under the criteria of
the Regulatory Flexibility Act.

List of Subjects in 14 CFR Part 97

    Air traffic control, Airports, Incorporation by reference,
Navigation (air).

    Issued in Washington, DC, on September 20, 2019.
Rick Domingo,
Executive Director, Flight Standards Service.

Adoption of the Amendment

    Accordingly, pursuant to the authority delegated to me, Title 14,
Code of Federal Regulations, Part 97 (14 CFR part 97) is amended by
establishing, amending, suspending, or removing Standard Instrument
Approach Procedures and/or Takeoff Minimums and Obstacle Departure
Procedures effective at 0901 UTC on the dates specified, as follows:

PART 97--STANDARD INSTRUMENT APPROACH PROCEDURES

0
1. The authority citation for part 97 continues to read as follows:

    Authority: 49 U.S.C. 106(f), 106(g), 40103, 40106, 40113, 40114,
40120, 44502, 44514, 44701, 44719, 44721-44722.

0
2. Part 97 is amended to read as follows:

* * * Effective 7 November 2019

Le Roy, NY, Le Roy, RNAV (GPS) RWY 10, Orig-D
Le Roy, NY, Le Roy, RNAV (GPS) RWY 28, Orig-E

Effective 5 December 2019

Nelson Lagoon, AK, Nelson Lagoon, BINAL TWO Graphic DP
Nelson Lagoon, AK, Nelson Lagoon, RNAV (GPS) RWY 8, Amdt 1
Nelson Lagoon, AK, Nelson Lagoon, RNAV (GPS) RWY 26, Amdt 1
Nelson Lagoon, AK, Nelson Lagoon, Takeoff Minimums and Obstacle DP,
Amdt 1
Fort Payne, AL, Isbell Field, NDB-A, Amdt 1A, CANCELLED
Russellville, AR, Russellville Rgnl, Takeoff Minimums and Obstacle
DP, Amdt 2
Ontario, CA, Ontario Intl, RNAV (RNP) Z RWY 26L, Amdt 2
Ontario, CA, Ontario Intl, RNAV (RNP) Z RWY 26R, Amdt 2
Meriden, CT, Meriden Markham Muni, RNAV (GPS) RWY 36, Orig-E
Williston, FL, Williston Muni, VOR RWY 23, Amdt 1B, CANCELLED
Alma, GA, Bacon County, RNAV (GPS) RWY 16, Amdt 3
Alma, GA, Bacon County, RNAV (GPS) RWY 34, Amdt 2
Alma, GA, Bacon County, Takeoff Minimums and Obstacle DP, Orig-B
Atlanta, GA, DeKalb-Peachtree, VOR/DME-D, Amdt 1A, CANCELLED
Cartersville, GA, Cartersville, LOC RWY 19, Amdt 3B, CANCELLED
LaGrange, GA, LaGrange-Callaway, ILS OR LOC RWY 31, Amdt 3
LaGrange, GA, LaGrange-Callaway, RNAV (GPS) RWY 3, Amdt 1
LaGrange, GA, LaGrange-Callaway, RNAV (GPS) RWY 13, Amdt 1
LaGrange, GA, LaGrange-Callaway, RNAV (GPS) RWY 31, Amdt 1
LaGrange, GA, LaGrange-Callaway, VOR RWY 13, Amdt 16A, CANCELLED
Ames, IA, Ames Muni, ILS OR LOC RWY 1, Amdt 3A
Mattoon/Charleston, IL, Coles County Memorial, RNAV (GPS) RWY 29,
Amdt 1B
South Bend, IN, South Bend Intl, ILS OR LOC RWY 9R, Amdt 10A
Atwood, KS, Atwood-Rawlins County City-County, Takeoff Minimums and
Obstacle DP, Orig-A
Garden City, KS, Garden City Rgnl, ILS OR LOC RWY 35, Amdt 2
Garden City, KS, Garden City Rgnl, RNAV (GPS) RWY 12, Orig-A
Garden City, KS, Garden City Rgnl, RNAV (GPS) RWY 17, Orig-A
Garden City, KS, Garden City Rgnl, RNAV (GPS) RWY 30, Orig-A
Garden City, KS, Garden City Rgnl, RNAV (GPS) RWY 35, Orig-A
Garden City, KS, Garden City Rgnl, VOR RWY 35, Amdt 2A
Pratt, KS, Pratt Rgnl, NDB RWY 17, Amdt 5A, CANCELLED
St Francis, KS, Cheyenne County Muni, RNAV (GPS) RWY 14, Orig-A
Frederick, MD, Frederick Muni, ILS OR LOC RWY 23, Amdt 6
Howell, MI, Livingston County Spencer J Hardy, ILS OR LOC RWY 13,
Amdt 1B
Howell, MI, Livingston County Spencer J Hardy, RNAV (GPS) RWY 13,
Amdt 2B

Brainerd, MN, Brainerd Lakes Rgnl, RNAV (GPS) RWY 34, Orig-B

Cook, MN, Cook Muni, RNAV (GPS) RWY 13, Orig-D
Cook, MN, Cook Muni, RNAV (GPS) RWY 31, Amdt 1D
Ely, MN, Ely Muni, VOR/DME RWY 12, Amdt 5, CANCELLED
Roseau, MN, Roseau Muni/Rudy Billberg Field, RNAV (GPS) RWY 16,
Orig-A
Two Harbors, MN, Richard B Helgeson, RNAV (GPS) RWY 6, Orig-C
Winona, MN, Winona Muni-Max Conrad Fld, ILS Z OR LOC Z RWY 30, Orig-
B
Lamar, MO, Lamar Muni, RNAV (GPS) RWY 3, Amdt 1B
Lamar, MO, Lamar Muni, RNAV (GPS) RWY 17, Orig-B
Warrensburg, MO, Skyhaven, VOR-A, Amdt 3A
Kalispell, MT, Glacier Park Intl, ILS OR LOC RWY 2, Amdt 8
Engelhard, NC, Hyde County, RNAV (GPS) RWY 11, Orig-A
Williston, ND, Sloulin Field Intl, Takeoff Minimums and Obstacle DP,
Amdt 6, CANCELLED
Ogallala, NE, Searle Field, VOR RWY 26, Amdt 1D
Manchester, NH, Manchester, ILS OR LOC RWY 35, ILS RWY 35 (SA CAT
I), ILS RWY 35 (CAT II), ILS RWY 35 (CAT III), Amdt 4A
Hobbs, NM, Lea County Rgnl, VOR OR TACAN RWY 21, Amdt 9D
Akron, OH, Akron-Canton Rgnl, RADAR 1, Amdt 24, CANCELLED
Cadiz, OH, Harrison County, VOR-A, Amdt 1A, CANCELLED
Caldwell, OH, Noble County, VOR-A, Amdt 1B, CANCELLED
Cambridge, OH, Cambridge Muni, VOR-A, Amdt 4A, CANCELLED
Columbus, OH, Bolton Field, ILS OR LOC RWY 4, Amdt 5B
Mansfield, OH, Mansfield Lahm Regional, RADAR 1, Amdt 4A, CANCELLED
Woodsfield, OH, Monroe County, RNAV (GPS) RWY 25, Orig-C
Ada, OK, Ada Rgnl, VOR RWY 18, Amdt 2, CANCELLED
Durant, OK, Durant Rgnl--Eaker Field, RNAV (GPS) RWY 17, Amdt 2
Durant, OK, Durant Rgnl--Eaker Field, RNAV (GPS) RWY 35, Amdt 2
Durant, OK, Durant Rgnl--Eaker Field, Takeoff Minimums and Obstacle
DP, Amdt 1
Durant, OK, Durant Rgnl--Eaker Field, VOR RWY 35, Amdt 1
Fairview, OK, Fairview Muni, RNAV (GPS) RWY 17, Amdt 1A
Hugo, OK, Stan Stamper Muni, RNAV (GPS) RWY 17, Amdt 1A
McAlester, OK, McAlester Rgnl, RNAV (GPS) RWY 20, Amdt 1A
McAlester, OK, McAlester Rgnl, VOR RWY 20, Amdt 2H, CANCELLED
Oklahoma City, OK, Will Rogers World, RNAV (GPS) Y RWY 17R, Amdt 5A
Pryor, OK, Mid-America Industrial, RNAV (GPS) RWY 36, Orig-A
Stigler, OK, Stigler Rgnl, RNAV (GPS) RWY 35, Amdt 1D
Pendleton, OR, Eastern Oregon Rgnl at Pendleton, ILS OR LOC RWY 26,
Amdt 25C
Pendleton, OR, Eastern Oregon Rgnl at Pendleton, RNAV (GPS) RWY 8,
Amdt 1
Pendleton, OR, Eastern Oregon Rgnl at Pendleton, RNAV (GPS) RWY 26,
Orig-D
Pendleton, OR, Eastern Oregon Rgnl at Pendleton, Takeoff Minimums
and Obstacle DP, Amdt 5
Pendleton, OR, Eastern Oregon Rgnl at Pendleton, VOR RWY 8, Amdt 15B
Grove City, PA, Grove City, Takeoff Minimums and Obstacle DP, Amdt
4A
Grove City, PA, Grove City, VOR-A, Amdt 7A
York, PA, York, RNAV (GPS) RWY 17, Amdt 2D
York, PA, York, RNAV (GPS) RWY 35, Amdt 1D

Andrews, SC, Robert F Swinnie, NDB RWY 36, Orig-B
Houston, TX, George Bush Intercontinental/Houston, ILS OR LOC RWY
27, ILS RWY 27 (SA CAT I), ILS RWY 27 (CAT II), ILS RWY 27 (CAT
III), Amdt 11B
Richmond, VA, Richmond Intl, RNAV (GPS) RWY 7, Amdt 1B, CANCELLED
Richmond, VA, Richmond Intl, RNAV (GPS) RWY 25, Amdt 2A, CANCELLED
Richmond, VA, Richmond Intl, VOR RWY 25, Amdt 16B, CANCELLED
Pasco, WA, Tri-Cities, ILS OR LOC RWY 21R, Amdt 13B
Pasco, WA, Tri-Cities, RNAV (GPS) Y RWY 30, Amdt 3A
Pasco, WA, Tri-Cities, VOR RWY 21R, Amdt 7A
Pasco, WA, Tri-Cities, VOR RWY 30, Amdt 5B
Amery, WI, Amery Muni, RNAV (GPS) RWY 18, Amdt 1B
Amery, WI, Amery Muni, RNAV (GPS) RWY 36, Amdt 1B
Janesville, WI, Southern Wisconsin Rgnl, RNAV (GPS) RWY 14, Amdt 1A
Janesville, WI, Southern Wisconsin Rgnl, RNAV (GPS) RWY 32, Orig-B
Mosinee, WI, Central Wisconsin, RNAV (GPS) RWY 17, Amdt 1C
Neillsville, WI, Neillsville Muni, NDB RWY 28, Amdt 7B, CANCELLED
Siren, WI, Burnett County, VOR RWY 5, Amdt 3, CANCELLED
Tomahawk, WI, Tomahawk Rgnl, RNAV (GPS) RWY 9, Amdt 2D
Wisconsin Rapids, WI, Alexander Field South Wood County, RNAV (GPS)
RWY 20, Amdt 2A
Fairmont, WV, Fairmont Muni-Frankman Field, RNAV (GPS) RWY 23, Amdt
2
Fairmont, WV, Fairmont Muni-Frankman Field, VOR-A, Amdt 2

[FR Doc. 2019-20989 Filed 9-30-19; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 87, Number 209 (Monday, October 31, 2022)]
[Notices]
[Page 65629]
[FR Doc No: 2022-23582]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-96148; File No. SR-LCH SA-2022-007]

Self-Regulatory Organizations; LCH SA; Notice of Designation of
Longer Period for Commission Action on Proposed Rule Relating To
Providing Clearing Services for Additional Index and Single Name CDS

October 25, 2022.
    On August 29, 2022, Banque Centrale de Compensation, which conducts
business under the name LCH SA (``LCH SA''), filed with the Securities
and Exchange Commission (``Commission'') the proposed rule change SR-
LCH SA-2022-007 (``Proposed Rule Change'') pursuant to Section 19(b) of
the Securities Exchange Act of 1934 (``Exchange Act'') \1\ and Rule
19b-4 \2\ thereunder to provide clearing services for additional index
and single name credit default swaps.\3\ The Proposed Rule Change was
published for public comment in the Federal Register on September 12,
2022.\4\ The Commission has not received comments regarding the
proposal described in the Proposed Rule Change.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Notice of Filing infra note 4, 87 FR at 55872.
    \4\ Securities Exchange Act Release No. 95674 (Sep. 6, 2022), 87
FR 55872 (Sep. 12, 2022) (File No. SR-LCH SA-2022-007) (``Notice of
Filing'').
---------------------------------------------------------------------------

    Section 19(b)(2) of the Exchange Act \5\ provides that, within 45
days of the publication of notice of the filing of a proposed rule
change, or within such longer period up to 90 days as the Commission
may designate if it finds such longer period to be appropriate and
publishes its reasons for so finding, or as to which the self-
regulatory organization consents, the Commission shall either approve
the proposed rule change, disapprove the proposed rule change, or
institute proceedings to determine whether the proposed rule change
should be disapproved. The 45th day after publication of the Notice of
Filing is October 27, 2022. The Commission is extending this 45-day
time period.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    In order to provide the Commission with sufficient time to consider
the Proposed Rule Change, the Commission finds that it is appropriate
to designate a longer period within which to take action on the
Proposed Rule Change.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the
Exchange Act,\6\ designates December 11, 2022 as the date by which the
Commission shall either approve, disapprove, or institute proceedings
to determine whether to disapprove proposed rule change SR-LCH SA-2022-
007.
---------------------------------------------------------------------------

    \6\ Id.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
---------------------------------------------------------------------------

    \7\ 17 CFR 200.30-3(a)(31).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2022-23582 Filed 10-28-22; 8:45 am]
BILLING CODE 8011-01-P


  SEQ CHAPTER \h \r 1 U. S. ENVIRONMENTAL PROTECTION AGENCY

Washington, D.C. 20460

									            OFFICE OF

PREVENTION, PESTICIDES

AND TOXIC SUBSTANCES

Date: 		July 16, 2009

PC Code: 	124002

DP Barcode: 	D363989 and D364309

MEMORANDUM

Subject:	Novaluron and Novaluron Degradates (Chlorophenyl urea and Chloroaniline) Drinking Water Assessment in Support of New Use Registration Action for Sorghum, Fruiting Vegetables (Group 8, D364309), Cucurbit Vegetables (Group 9), Low-growing Berry Subgroup (13-07G), Snap and Dry Bean, and Swiss Chard.

To:		George Kramer, RAB 1

		Dana Vogel, Branch Chief, RAB1

		Health Effects Division (7509P)

		John Hebert, PM 07

		Insecticide-Rodenticide Branch, Product Manager 7

Registration Division (7505P)

		Barbra Madden, RM 05

		Risk Integration, Minor Use and Emergency Response Branch

Registration Division (7505P)

From:	Iwona L. Maher, Chemist, ERBI

	Faruque, Khan, Ph.D., Senior Scientist, ERBI

		Nancy Andrews, Ph.D., Branch Chief, ERBI

Environmental Fate and Effects Division (7507P)

The registrant is proposing to add six new uses:  sorghum, fruiting vegetables (Group 8, D364309), cucurbit vegetables (group 9), low growing berry subgroup (13-07G), snap and dry bean, and swiss chard (D364313) to the RimOn 0.83EC product label. Based on a review and analysis of the application information provided on the product label for this end-use product, novaluron application rates proposed for these six crop groups are lower than the highest application rates for currently registered and previously proposed, under review, uses for novaluron, on pome fruits and stone fruits, respectively. Since the application rates are significantly lower for the proposed uses than those for pome fruits and stone fruits, the estimated drinking water concentrations provided in the previous drinking water assessment dated March 10, 2009 (USEPA, D357061) and February 11, 2004 (USEPA, D285477) are applicable for the proposed uses.

Table 1 lists novaluron maximum application rates for the proposed and registered crop uses based on the RimOn 0.83EC product label dated March 13, 2009, and previously proposed, under review, stone fruits uses based on the label dated January 29, 2009. The maximum application rates for the propose uses are 0.078 lbs a.i./A for a single application, and 0.234 lbs a.i./A for an annual application rate. These rates are four times lower than the previously proposed and registered uses (pome and stone fruits) for novaluron. The label language is not explicit whether aerial and ground application are allowed for each of the uses, however, based on the use directions provided, it was assumed that both ground and aerial applications are permitted.

Table 1.  Novaluron application rates for the proposed, under review, and registered1 uses.

Crop

(Subgroup)	Maximum Application Rate

(Lb ai/A)	Maximum Number of Applications Per Year	Minimum Interval Between Applications	Application

Method

	Single	Annual

	Pome Fruit1 	0.324	0.972	3	10	G, A

Stone Fruit (12) 2	0.324	0.972	3	73	G, A

Sorghum	0.078	0.234	3	7	G, A

Fruiting Vegetables	0.078	0.234	3	7	G, A

Cucurbit Vegetables	0.078	0.234	3	14	G, A

Low-growing Berry Subgroup (13-07G) 4	0.078	0.234	3	7	G, A

Strawberry	0.078	0.234	3	14	G, A

Snap and Dry Beans	0.078	0.234	3	7	G, A

Swiss Chard	0.078	0.234	3	7	G, A

1 – It shows only the highest maximum registered application rate for novaluron; i.e. pome fruits (except pears) per March 19, 2009, label.

2 – EFED Sec 3 Chapter for stone fruits was completed in April 14, 2009 and the use is under review (petition 8E7426).

3 – According to the proposed label the consequent applications to stone fruit should be made in seven to 14-day intervals, the lowest interval was selected.

4 – Include Bearberry, Bilberry, Lowbush Berry, Cloudberry, Cranberry, Lingonberry, Muntries , and Partridgeberry

G – Ground applied, A – Aerially applied

 μg/l (peach via aerial application) exceeding the solubility of novaluron (3 μg/L), which is expected to be an upper bound environmental concentration.  The chronic non-cancer EDWC is not expected to exceed 0.76 μg/L, and the cancer/chronic drinking water concentration is not expected to exceed 0.62 μg/L for use on apple via aerial application.  An estimated peak drinking water concentration of chlorophenyl urea from surface water sources is 4.74 μg/L, and an estimated annual average concentration is 0.89 μg/L based on novaluron’s maximum application rate of 0.32 lb ai/acre applied 3 times a season every 7 days (0.96 lbs ai/year, stone fruit). The estimated peak drinking water concentration of chloroaniline is 11.4 μg/L and exceeding the estimated solubility of chloroaniline (10.6 μg/L), which is expected to be the upper bound environmental concentration.  The estimated annual average chloroaniline concentration is 2.6 μg/L obtained from novaluron application rate of 0.32 lb ai/acre applied 3 times a season every 10 days (0.96 lbs ai/year, pome fruit).

	For the annual application rate of 0.96 lb a.i./acre (i.e., three applications of 0.32 lb a.i./acre; use on apples and peaches), SCI-GROW novaluron predicted ground water concentration is 5.6 x 10-3 μg/L in drinking water from shallow ground water sources. The predicted ground water concentration is 4.5 x 10-3 μg/L for chlorophenyl urea and 9.0 x 10-3 μg/L for chloroaniline from novaluron’s maximum up to date application rate (0.96 lb a.i./acre; pome and stone fruits).  These concentrations may be considered as both the peak and annual average upper bound exposures. Table 2 provides the previously EDWCs for novaluron uses on pome and stone fruits that are recommended to be used for the human health exposure assessment for currently proposed uses.

Table 2. Estimated drinking water concentrations (EDWCs) resulting from applications of novaluron.

Drinking water source

(model)	Use

(modeled rate)

$

Z

w

x

y

~

Ê

Ë

Í

-

Z

x

萏ː萑ﴰ␱㜀$␸䠀$葞ː葠ﴰ摧á଀x

y

Ë

ö

w

“

•

Ÿ

°

Ä

Ó

Ø

å

h

h

h

h

h

h

h

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@

@

@

@

h

h

@

@

@

$

	@

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퀀ࠂ䀇

 (ppb)	30- year average (ppb)

Novaluron

Surface water (PRZM/EXAMS)	PA Apples

(0.972 lbs ai/A/year) aerial application

4.59*

0.76

0.62

	GA Peach

(0.972  lbs ai/A/year)

aerial application

4.72*

0.51

0.43

Groundwater (SCIGROW)	Apples/Peaches

(0.972 lbs ai/A/year)

aerial application	0.0056	< 0.0056	< 0.0056

Chlorophenyl Urea

Surface water

(FIRST)	Apples

(0.972 lbs ai/A/year)

aerial application

4.55

≤ 0.86	≤ 0.86

	Peaches

(0.972 lbs ai/A/year)

aerial application	4.74	≤ 0.89	 ≤ 0.89

Groundwater (SCIGROW)	Apples/Peaches

(0.972 lbs ai/A/year)

aerial application	0.0045	< 0.0045	< 0.0045

Chloroaniline

Surface water

(FIRST)	Apples/Peaches

(0.972 lbs ai/A/year)

aerial application

11.4**

≤ 2.60	≤ 2.60

Groundwater (SCIGROW)	Apples/Peaches

(0.972 lbs ai/A/year)

aerial application	0.009	< 0.009	< 0.009

*These values exceed the measured water solubility of novaluron; i.e. 3 µg/L (3 ppb).

퀀ࠂ䀇

퀀ࠂ䀇

퀀ࠂ䀇

퀀ࠂ䀇

	@

	@

	@

퀀ࠂ䀇

퀀ࠂ䀇

	@

	@

퀀ࠂ䀇

퀀ࠂ䀇

	@

	@

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퀀ࠂ䀇

	@

	@

eeds the estimated water solubility of chloroaniline; i.e. 10.6 µg/L (10.6 ppb).

	For further details regarding novaluron drinking water modeling for pome and stone fruits uses, refer to the previous drinking water assessments dated March 10, 2009 (USEPA, D357061) and February 11, 2004 (USEPA, D285477).

 PAGE

 PAGE   2


[Federal Register Volume 86, Number 113 (Tuesday, June 15, 2021)]
[Notices]
[Pages 31772-31773]
[FR Doc No: 2021-12477]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-92136]

Order Granting Applications by Nasdaq GEMX, LLC and Nasdaq MRX,
LLC for Exemption Pursuant to Section 36(a) of the Exchange Act From
the Rule Filing Requirements of Section 19(b) of the Exchange Act With
Respect to the Nasdaq Rule 1000 Series Incorporated by Reference

June 9, 2021.
    Nasdaq GEMX, LLC and Nasdaq MRX, LLC (the ``Exchanges'') have filed
with the Securities and Exchange Commission (the ``Commission'') an
application for an exemption under Section 36(a)(1) of the Securities
Exchange Act of 1934 (``Exchange Act'') \1\ from the rule filing
requirements of Section 19(b) of the Exchange Act \2\ with respect to
certain rules of The Nasdaq Stock Market LLC (``Nasdaq'') that the
Exchanges seek to incorporate by reference (``Nasdaq Rule 1000
Series'').\3\ Section 36(a)(1) of the Exchange Act,\4\ subject to
certain limitations, authorizes the Commission to conditionally or
unconditionally exempt any person, security, or transaction, or any
class thereof, from any provision of the Exchange Act or rule
thereunder, if necessary or appropriate in the public interest and
consistent with the protection of investors.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78mm(a)(1).
    \2\ 15 U.S.C. 78s(b).
    \3\ See letter from Brett M. Kitt, Principal Associate General
Counsel, Nasdaq Inc., to J. Matthew DeLesDernier, Assistant
Secretary, Commission, dated April 22, 2021 (``Exemptive Request'').
    \4\ 15 U.S.C. 78mm(a)(1).
---------------------------------------------------------------------------

    The Exchanges each filed a proposed rule change \5\ under Section
19(b) of the

Exchange Act to replace its existing membership rules, as set forth in
General 3 of their respective rulebooks, with the Rule 1000 Series of
the Nasdaq rulebook, as such rules may be in effect from time to time.
Namely, in the proposed rule changes, the Exchanges each proposed to
incorporate by reference the Nasdaq Rule 1000 Series such that Nasdaq
Rule 1000 Series would be applicable to each of the Exchanges'
respective applicants, members, associated persons, and other persons
subject to the Exchanges' jurisdiction as though such rules were fully
set forth within each of the Exchanges' rulebooks.\6\
---------------------------------------------------------------------------

    \5\ See Securities Exchange Act Release Nos. 91672 (April 26,
2021), 86 FR 23001 (April 30, 2021) (SR-GEMX-2021-02); 91674 (April
26, 2021), 86 FR 23013 (April 30, 2021) (SR-MRX-2021-03). Although
the proposed rule changes were filed pursuant to Section
19(b)(3)(A)(iii) of the Exchange Act, and thereby became effective
upon filing with the Commission, the Exchanges stipulated in their
proposals that the incorporation by reference would not be operative
until such time as the Commission grants this Exemptive Request.
    \6\ See note 5, supra.
---------------------------------------------------------------------------

    The Exchanges have requested, pursuant to Rule 0-12 under the
Exchange Act,\7\ that the Commission grant the Exchanges an exemption
from the rule filing requirements of Section 19(b) of the Exchange Act
for changes to each of the Exchanges' rules that are effected solely by
virtue of a change to the Nasdaq Rule 1000 Series that are incorporated
by reference. Specifically, the Exchanges request that they be
permitted to incorporate by reference changes made to the Nasdaq Rule
1000 Series that are cross-referenced in each of the Exchanges' rules
without the need for each of the Exchanges to file separately the same
proposed rule change pursuant to Section 19(b) of the Exchange Act.\8\
---------------------------------------------------------------------------

    \7\ 17 CFR 240.0-12.
    \8\ See Exemptive Request, supra note 3.
---------------------------------------------------------------------------

    The Exchanges represent that the Nasdaq Rule 1000 Series are not
trading rules.\9\ Moreover, the Exchanges state that in each instance,
they propose to incorporate by reference a category of rules (rather
than individual rules within a category).\10\ The Exchanges also
represent that, as a condition of this exemption, the Exchanges will
provide written notice to their respective applicants and members
whenever Nasdaq proposes a change to Nasdaq Rule 1000 Series.\11\
---------------------------------------------------------------------------

    \9\ Id.
    \10\ Id. at 2 n.7.
    \11\ Id. at 3. The Exchanges state that they will provide such
notice via a posting on the same website location where the
Exchanges post their own rule filings pursuant to Rule 19b-4(l)
within the timeframe required by such Rule. In addition, the
Exchanges state that the website posting will include a link to the
location on Nasdaq's website where the applicable proposed rule
change is posted. Id. at 3 n.8.
---------------------------------------------------------------------------

    According to the Exchanges, this exemption is necessary and
appropriate because it will result in the Exchanges' membership rules
and processes being consistent with the relevant cross-referenced
Nasdaq membership rules and processes at all times.\12\ The Exchanges
states that harmonization of the membership rules and processes between
the Exchanges and Nasdaq will ease compliance burdens for those seeking
membership on the three exchanges and increase internal efficiencies
associated with administering the membership rules and processes of
each exchange.\13\
---------------------------------------------------------------------------

    \12\ See id. at 2.
    \13\ See id.
---------------------------------------------------------------------------

    The Commission has issued exemptions similar to the Exchanges'
request.\14\ In granting similar exemptions, the Commission stated that
it would consider future exemption requests, provided that:
---------------------------------------------------------------------------

    \14\ See, e.g., Securities Exchange Act Release Nos. 91202
(February 24, 2021), 86 FR 12250 (March 2, 2021) (order granting
application by Nasdaq ISE, LLC for exemption pursuant to Section
36(a) of the Exchange Act from the rule filing requirements of
section 19(b) of the Exchange Act with respect to the Nasdaq Rule
1000 Series incorporated by reference); 86896 (September 6, 2019),
84 FR 48186 (September 12, 2019) (order granting application by
Nasdaq BX, Inc. for exemption pursuant to section 36(a) of the
Exchange Act from the rule filing requirements of section 19(b) of
the Exchange Act with respect to the Nasdaq Rule 1000 Series
incorporated by reference); 80338 (March 29, 2017), 82 FR 16464
(April 4, 2017) (order granting exemptive request from MIAX PEARL,
LLC relating to rules of Miami International Securities Exchange,
LLC incorporated by reference); 72650 (July 22, 2014), 79 FR 44075
(July 29, 2014) (order granting exemptive requests from NASDAQ OMX
BX, Inc. and the NASDAQ Stock Market LLC relating to rules of NASDAQ
OMX PHLX LLC incorporated by reference); 67256 (June 26, 2012), 77
FR 39277, 39286 (July 2, 2012) (order approving SR-BX-2012-030 and
granting exemptive request relating to rules incorporated by
reference by the BX Options rules); 61534 (February 18, 2010), 75 FR
8760 (February 25, 2010) (order granting BATS Exchange, Inc.'s
exemptive request relating to rules incorporated by reference by the
BATS Exchange Options Market rules) (``BATS Options Market Order'');
and 57478 (March 12, 2008), 73 FR 14521, 14539-40 (March 18, 2008)
(order approving SR-NASDAQ-2007-004 and SR-NASDAQ-2007-080, and
granting exemptive request relating to rules incorporated by
reference by The NASDAQ Options Market).
---------------------------------------------------------------------------

     A self-regulatory organization (``SRO'') wishing to
incorporate rules of another SRO by reference has submitted a written
request for an order exempting it from the requirement in Section 19(b)
of the Exchange Act to file proposed rule changes relating to the rules
incorporated by reference, has identified the applicable originating
SRO(s), together with the rules it wants to incorporate by reference,
and otherwise has complied with the procedural requirements set forth
in the Commission's release governing procedures for requesting
exemptive orders pursuant to Rule 0-12 under the Exchange Act; \15\
---------------------------------------------------------------------------

    \15\ See 17 CFR 240.0-12 and Securities Exchange Act Release No.
39624 (February 5, 1998), 63 FR 8101 (February 18, 1998)
(``Commission Procedures for Filing Applications for Orders for
Exemptive Relief Pursuant to Section 36 of the Exchange Act; Final
Rule'').
---------------------------------------------------------------------------

     The incorporating SRO has requested incorporation of
categories of rules (rather than individual rules within a category)
that are not trading rules (e.g., the SRO has requested incorporation
of rules such as margin, suitability, or arbitration); and
     The incorporating SRO has reasonable procedures in place
to provide written notice to its members each time a change is proposed
to the incorporated rules of another SRO.\16\
---------------------------------------------------------------------------

    \16\ See BATS Options Market Order, supra note 14 (citing
Securities Exchange Act Release No. 49260 (February 17, 2004), 69 FR
8500 (February 24, 2004) (order granting exemptive request relating
to rules incorporated by reference by several SROs) (``2004
Order'')).
---------------------------------------------------------------------------

    The Commission believes that the Exchanges have satisfied each of
these conditions. Further, the Commission also believes that granting
the Exchanges an exemption from the rule filing requirements under
Section 19(b) of the Exchange Act will promote efficient use of the
Commission's and the Exchanges' resources by avoiding duplicative rule
filings based on simultaneous changes to identical rule text sought by
more than one SRO.\17\ The Commission therefore finds it appropriate in
the public interest and consistent with the protection of investors to
exempt the Exchanges from the rule filing requirements under Section
19(b) of the Exchange Act with respect to the above-described rules it
incorporates by reference. This exemption is conditioned upon the
Exchanges promptly providing written notice to their applicants and
members whenever Nasdaq changes a rule that the Exchanges incorporate
by reference.
---------------------------------------------------------------------------

    \17\ See BATS Options Market Order, supra note 14, 75 FR at
8761; see also 2004 Order, supra note 16, 69 FR at 8502.
---------------------------------------------------------------------------

    Accordingly, it is ordered, pursuant to Section 36 of the Exchange
Act,\18\ that the Exchanges are exempt from the rule filing
requirements of Section 19(b) of the Exchange Act solely with respect
to changes to the rules identified in the Exemptive Request, provided
that the Exchanges promptly provide written notice to their applicants
and members whenever Nasdaq proposes to change a rule that the
Exchanges have incorporated by reference.
---------------------------------------------------------------------------

    \18\ 15 U.S.C. 78mm.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\19\
---------------------------------------------------------------------------

    \19\ 17 CFR 200.30-3(a)(76).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-12477 Filed 6-14-21; 8:45 am]
BILLING CODE 8011-01-P