[Federal Register Volume 78, Number 163 (Thursday, August 22, 2013)]
[Notices]
[Pages 52224-52226]
[FR Doc No: 2013-20462]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-70224; File No. SR-BOX-2013-41]

Self-Regulatory Organizations; BOX Options Exchange LLC; Notice
of Filing and Immediate Effectiveness of Proposed Rule Change Regarding
Continuing Education for Registered Persons

August 16, 2013.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on August 14, 2013, BOX Options Exchange LLC (the ``Exchange'') filed
with the Securities and Exchange Commission (``Commission'') the
proposed rule change as described in Items I and II below, which Items
have been prepared by the self-regulatory organization. The Commission
is publishing this notice to solicit comments on the proposed rule from
interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to amend BOX Rule 2040 (Restrictions)
regarding continuing education for registered persons. The text of the
proposed rule change is available from the principal office of the
Exchange, at the Commission's Public Reference Room and also on the
Exchange's Internet Web site at http://boxexchange.com.

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

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

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

1. Purpose
    The Exchange is proposing to amend BOX Rule 2040 (Restrictions) to
specify the different Continuing Education

(``CE'') requirements for registered persons based upon their
registration with the Exchange. This change will authorize the Exchange
to administer different CE programs to differently registered
individuals while bringing clarity to Options Participants about what
CE requirement they must fulfill. More specifically, the Exchange is
proposing to: (1) Adopt the Series 501 Proprietary Trader Continuing
Education Program, and (2) enumerate the required Regulatory Element
programs.
Background
    Currently, Exchange Rule IM-2040-5(b) \3\ states that that ``each
Representative or Principal registered with the Exchange shall complete
the Regulatory Element of the Continuing Education requirement''.\4\
Exchange Rule IM-2040-5(b) further states that ``the content of the
Regulatory Element shall be determined by the Exchange and shall be
appropriate to either the registered representative or principal status
of persons subject to this IM-2040-5''. The Regulatory Element is a
computer-based education program administered by the Financial Industry
Regulatory Authority (``FINRA'') to help ensure that registered persons
are kept up to date on regulatory, compliance and sales practice
matters in the industry. Currently, there are two Regulatory Element
programs that BOX recognizes: the S201 Supervisor Program for
registered principals and supervisors; and the S101 General Program for
Series 7 and all other registered persons. The Exchange is proposing to
enumerate these programs in the Exchange Rulebook along with adding the
S501 Series 56 Proprietary Trader Continuing Education Program for
Series 56 registered persons.
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    \3\ See Exchange Rule IM-2040-5(b).
    \4\ Id.
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Introduction of the Proprietary Trading Continuing Education Program

    The Exchange is proposing to introduce a new CE Program for
Proprietary Traders registered with the Exchange who have successfully
completed the Proprietary Traders Examination (``Series 56'') and who
have no other registrations. Exchange Rule 2020(b)(2) outlines the
registration and qualification requirements (including prerequisite
examinations) for Limited Representatives--Proprietary Traders. Each
person associated with a Participant who is included within the
definition of Representative may register as a Limited Representative--
Proprietary Trader if his activities in the investment banking or
securities business are limited solely to proprietary trading; and he
passes the appropriate Qualification Examination for Limited
Representative--Proprietary Trader, the Series 56; and he is an
associated person of a proprietary trading firm.\5\
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    \5\ See Exchange Rule 2020(b)(2)(i). Under Exchange Rule
2020(e)(2) a proprietary trading firm is a Participant that trades
its own capital, that does not have customers, and that is not a
member of the Financial Industry Regulatory Authority. In addition,
to qualify for this definition, the funds used by a proprietary
trading firm must be exclusively firm funds, all trading must be in
the firm's accounts, and traders must be owners of, employees of, or
contractors to the firm.
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    The Proprietary Trader Continuing Education Program (S501) is a
computer-based education program developed by many of the self-
regulatory organizations (``Participating SROs'') \6\ to ensure that
registered persons are kept current on regulatory, compliance and
trading practice matters in the industry. Unlike the other offered CE
Programs, the Proprietary Trader Continuing Education Program is not
part of the Uniform Continuing Education Program, which is developed
and maintained by the Securities Industry Regulatory Council on
Continuing Education.
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    \6\ The Participating SROs that have assisted with the
development of, and plan to administer, the Series 56 and S501 are
the Exchange, Chicago Board Options Exchange, Incorporated
(``CBOE''), C2 Options Exchange, Incorporated (``C2''), the Chicago
Stock Exchange, Inc. (``CHX''), the New York Stock Exchange, LLC
(``NYSE''), NYSE Arca, Inc. (``Arca''), NYSE Amex, LLC (``Amex''),
the NASDAQ Stock Market LLC (``NASDAQ''), the National Stock
Exchange, Inc. (``NSX''), NASDAQ OMX BX, Inc. (``BX''), NASDAQ OMX
PHLX, LLC (``PHLX''), BATS Y-Exchange, Inc. (``BATS Y''), BATS
Exchange, Inc. (``BATS''), EDGA Exchange, Inc. (``EDGA''), EDGX
Exchange, Inc. (``EDGX''), Miami International Securities Exchange,
LLC (``MIAX'') and International Securities Exchange, LLC (``ISE'').
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    The Proprietary Trader Continuing Education Program will
logistically operate as the currently offered CE Programs do.
Specifically, registered persons will be required, through CRD, to
complete the Regulatory Element of the CE on the second anniversary of
the base date and then every three years thereafter. While creating the
S501, the Participating SROs believed that the current procedures of
the other CE programs work well. The Securities Industry Regulatory
Council on Continuing Education has tailored the process of the other
CE Programs since its inception to a process that has been successful.
Thus, as proposed, the S501 will work in the same manner. In addition,
consistency between the different programs will avoid creating
confusion amongst the registered persons and FINRA.
    The Proprietary Trader Continuing Education Program (S501) is
required for those registrants who registered as Proprietary Traders by
passing the Series 56 and do not maintain any other registration
through CRD.\7\ Individuals that are registered under any other
registration are required to maintain the CE obligations associated
with those registrations.
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    \7\ Any registered person who receives a waiver of the Series 56
under Exchange Rule IM-2040-2, and does not maintain any other
registrations in CRD, will be required to complete the Proprietary
Trader Continuing Education Program (S501).
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    For example, an individual that is registered as a Proprietary
Trader with the Exchange yet continues to maintain a Series 7
registration will be required to continue taking the Series 7
Continuing Education Program (S101).\8\ Though such individual may be
engaging in the same capacity as one registered as a Proprietary
Trader, because the Series 7 Examination is a more comprehensive exam
of topics not covered on the Series 56, the Exchange believes that this
individual continuing to maintain a Series 7 registration should
complete a CE that covers all aspects of his or her registration.
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    \8\ If a registered person has received a Series 56 waiver under
Exchange Rule IM-2040-2 but continues to maintain a Series 7
registration (that predates the introduction of the Series 56 on the
Exchange) that registered individual will be required to continue
taking the Series 7 CE Program (S101). Through CRD, FINRA will
recognize the Series 56 as waived while still requiring the Series 7
CE completion.
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    The introduction of the Proprietary Trader Continuing Education
Program allows the Exchange to tailor its CE requirements more closely
to those registered individuals who are registered as Series 56. More
specifically, the Exchange believes allowing individuals engaging in
proprietary trading and registered under the Series 56 to complete a
separate CE Program than those maintaining a Series 7 registration is
appropriate as all individuals have the option of taking either test.
In comparison to the Series 7, the Series 56 Examination is more
closely tailored to the practice of proprietary trading while the
Series 7 is more comprehensive. As such, the Exchange believes a Series
56 CE Program should be tailored as well. At the same time, if an
individual would like to remain registered as a Series 7, the Exchange
believes it is appropriate they continue to be required to complete the
broader CE program. As stated above, though an individual maintaining a
Series 7 registration may be engaging in the same capacity as one
registered as a Proprietary Trader, because the Series 7 Examination is
a

more comprehensive exam of topics not covered on the Series 56, the
Exchange believes that such individual that continues to maintain a
Series 7 registration should complete a CE that covers all aspects of
his or her registration.
2. Statutory Basis
    The Exchange believes that the proposal is consistent with the
requirements of Section 6(c) of the Act,\9\ in general, and furthers
the objectives of Section 6(c)(3) of the Act,\10\ which authorizes the
Exchange to prescribe standards of training, experience and competence
for persons associated with the Exchange Options Participants, in that
the proposed rule codifies the existing requirements for Exchange
Options Participants and their Representatives. The proposed rule also
introduces a new CE program for Series 56 registered persons. The
Exchange believes the proposed changes are reasonable and set forth the
appropriate CE requirements for an Options Participant's Representative
or Principal who is required to register under Exchange Rule IM-2040-5.
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    \9\ 15 U.S.C. 78f(c).
    \10\ 15 U.S.C. 78f(c)(3).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will
impose any burden on competition not necessary or appropriate in
furtherance of the purposes of the Act. In this regard, the Exchange
notes that the rule change is being proposed in response to a filing
recently submitted by the CBOE.\11\ The Exchange does not believe that
the administrative changes being made nor the introduction of the
Proprietary Trader Continuing Education Program (S501) will affect
intermarket competition as the Exchange believes all Exchanges offering
the same CE requirements will file similar rules addressing those CE
Programs. In addition, the Exchange does not believe the proposed
changes will affect intramarket competition because all similarly
situated registered persons, e.g. registered persons maintaining the
same registrations, are required to complete the same CE requirements.
For example, all individuals maintaining a Series 7 registration will
be required to complete the Series 7 CE while all individuals
maintaining a Series 56 registration (and no other registrations) will
be required to complete the new Series 56 CE.
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    \11\ See Securities Exchange Act Release No. 70027 (July 23,
2013), 78 FR 45584 (July 29, 2013) (SR-CBOE-2013-076) (Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change
Relating to Continuing Education).
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C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others

    The Exchange has neither solicited nor received comments on the
proposed rule change.

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

    Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, the proposed rule
change has become effective pursuant to Section 19(b)(3)(A) of the Act
\12\ and Rule 19b-4(f)(6) thereunder.
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    \12\ 15 U.S.C. 78s(b)(3)(A).
---------------------------------------------------------------------------

    The Exchange has requested that the Commission waive the 30-day
operative delay. The rule change specifies that proprietary traders who
have qualified by taking the Series 56 exam must take the S 501
continuing education program. Waiver of the operative delay will enable
those registered persons required to take the S 501 continuing
education to do so as soon as the program becomes available, enabling
them to comply with their continuing education requirements in a timely
manner, and thus is consistent with the protection of investors and the
public interest. Therefore, the Commission designates the proposal
operative upon filing.\13\
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    \13\ For purposes only of waiving the 30-day operative delay,
the Commission has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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    At any time within 60 days of the filing of this proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission will institute proceedings to
determine whether the proposed rule change should be approved or
disapproved.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-BOX-2013-41 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-BOX-2013-41. 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 the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-BOX-2013-41 and should be
submitted on or before September 12, 2013.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
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    \14\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-20462 Filed 8-21-13; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 88, Number 23 (Friday, February 3, 2023)]
[Notices]
[Pages 7429-7430]
[FR Doc No: 2023-02253]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. CP22-501-000]

Transcontinental Gas Pipe Line Company, LLC; Notice To Prepare an
Environmental Assessment and Revised Schedule for Environmental Review
of the Southeast Energy Connector Project

    On August 22, 2022, Transcontinental Gas Pipe Line Company, LLC
(Transco) filed an application in Docket No. CP22-501-000 requesting a
Certificate of Public Convenience and Necessity pursuant to Section
7(c) of the Natural Gas Act to construct and operate certain natural
gas pipeline facilities in Coosa and Chilton Counties, Alabama. The
proposed project is known as the Southeast Energy Connector Project
(Project) and would provide 150,000 dekatherms per day of natural gas
transportation service to an existing

electric power generator in Shelby County, Alabama.
    On October 28, 2022, the Federal Energy Regulatory Commission (FERC
or Commission) issued a Notice of Intent (NOI) which identified August
4, 2023 as the issuance date for the final Environmental Impact
Statement (EIS). However, Commission staff now intends to prepare an
Environmental Assessment (EA) for the Project and has therefore revised
the planned schedule for the completion of the environmental review.\1\
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    \1\ 40 CFR 1501.10 (2020)
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    The October 28, 2022 NOI announced the opening of a 30-day scoping
period which closed on November 28, 2022. Commission staff will
consider the information gathered and comments received during scoping
in the preparation of the EA; interested stakeholders do not need to
resubmit comments previously submitted. Commission staff will make the
EA available for public review and inspection, and solicit comments on
the document from the public. The Commission will review and consider
any future comments received on the EA in its consideration of the
Project.
    This notice identifies the revised schedule for completion of the
EA for Transco's Project.

Schedule for Environmental Review

Issuance of the EA March 24, 2023
90-day Federal Authorization Decision Deadline \2\ June 22, 2023
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    \2\ The Commission's deadline applies to the decisions of other
federal agencies, and state agencies acting under federally
delegated authority, that are responsible for federal
authorizations, permits, and other approvals necessary for proposed
projects under the Natural Gas Act. Per 18 CFR 157.22(a), the
Commission's deadline for other agency's decisions applies unless a
schedule is otherwise established by federal law.

    If a schedule change becomes necessary, an additional notice will
be provided so that the relevant agencies are kept informed of the
project's progress.

Additional Information

    In order to receive notification of the issuance of the EA and to
keep track of all formal issuances and submittals in specific dockets,
the Commission offers a free service called eSubscription. This can
reduce the amount of time you spend researching proceedings by
automatically providing you with notification of these filings,
document summaries, and direct links to the documents. Go to https://www.ferc.gov/ferc-online/overview to register for eSubscription.
    Additional information about the Project is available from the
Commission's Office of External Affairs at (866) 208-FERC or on the
FERC website (www.ferc.gov). Using the ``eLibrary'' link, select
``General Search'' from the eLibrary menu, enter the selected date
range and ``Docket Number'' excluding the last three digits (i.e.,
CP22-501), and follow the instructions. For assistance with access to
eLibrary, the helpline can be reached at<PHONE_NUMBER>, TTY (202) 502-
8659, or at [email protected]. The eLibrary link on the FERC
website also provides access to the texts of formal documents issued by
the Commission, such as orders, notices, and rule makings.

    Dated: January 27, 2023.
Kimberly D. Bose,
Secretary.
[FR Doc. 2023-02253 Filed 2-2-23; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 76, Number 63 (Friday, April 1, 2011)]
[Notices]
[Pages 18278-18280]
[FR Doc No: 2011-7654]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-64136; File No. SR-NYSE-2011-11]

Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
Amending NYSE Rule 440B to Modify the Exchange's Procedures for
Handling Short Sale Orders During a Period When the Short Sale Price
Test Restrictions of Rule 201 of Regulation SHO are In Effect

March 28, 2011.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that on March 25, 2011, New York Stock Exchange LLC (``NYSE'' or
the ``Exchange'') filed with the Securities and Exchange Commission
(the ``Commission'') the proposed rule change as described in Items I
and II below, which Items have been substantially prepared by the self-
regulatory organization. The Commission is publishing this notice to
solicit comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C.78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to amend NYSE Rule 440B (Short Sales) to
modify the Exchange's procedures for handling short sale orders during
a period when the short sale price test restrictions of Rule 201 of
Regulation SHO (``Rule 201'') \4\ are in effect (``Short Sale
Period''). The text of the proposed rule change is available at the
Exchange, the Commission's Public Reference Room, and http://www.nyse.com.
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    \4\ 17 CFR 242.201.
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II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change

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

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

1. Purpose
    On February 26, 2010, the Commission adopted amendments to Rule 201
of Regulation SHO under the Act.\5\ In order to implement the
provisions of revised Rule 201, the Exchange amended NYSE Rule 440B
(Short Sales) to (1) Establish procedures for the Exchange, as a
listing market, to determine that the short sale price test
restrictions of Rule 201 have been triggered for a covered security,
(2) establish the protocols for the handling of short sale orders by
the Exchange, as a trading center, in the event the short sale price
test restrictions of Rule 201 are triggered, including establishing
what types of short sale orders will be re-priced to achieve a
``Permitted Price'' (as defined and calculated in Rule 440B(e)), in
accordance with Rule 201, during a Short Sale Period, (3) establish the
Exchange's procedures regarding the execution and display of
permissible orders during a Short Sale Period, and the execution and
display of orders marked ``short exempt'' during such a period, (4)
establish the Exchange's procedures regarding the permissible execution
price of short sale orders in single-priced opening, re-opening and
closing transactions during a Short Sale Period, and (5) provide that,
during a Short Sale Period, Exchange systems will not execute or
display a short sale order with respect to that security at a price
that is less than or equal to the current national best bid (except as
otherwise provided by Rule 440B and consistent with Rule 201).\6\
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    \5\ See Securities Exchange Act Release No. 61595 (February 26,
2010), 75 FR 11232 (March 10, 2010) (File No. S7-08-09; Amendments
to Regulation SHO) (``Rule 201 Adopting Release''). In the Rule 201
Adopting Release, the Commission also adopted amendments to Rule
200(g) of Regulation SHO to include a ``short exempt'' marking
requirement. 17 CFR 242.200(g).
    \6\ See Securities Exchange Act Release No. 63977 (February 25,
2010), 76 FR 12165 (March 4, 2011) (SR-NYSE-2011-05).
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    Under Rule 440B(e), during a Short Sale Period, short sale orders
that are limited to the national best bid or lower and short sale
market orders will be re-priced by Exchange systems one minimum price
increment above the current national best bid to permit their execution
at a price that is compliant with the short sale price test
restrictions of Rule 201. Consistent with Rule 201,\7\ the Permitted
Price for securities for which the national best bid is $1 or more is
$.01 above the national best bid; the Permitted Price for securities
for which the national best bid is below $1 is $.0001 above the
national best bid.\8\
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    \7\ See Rule 201 Adopting Release at 11247.
    \8\ 17 CFR 242.612.
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    Among other things, Rule 440B(f) implements Rule 201(b)(1)(iii)(A),
which provides that a trading center must have policies and procedures
reasonably designed to permit the execution of a displayed short sale
order of a covered security if, at the time of the initial display of
the short sale order, the order was at a price above the current
national best bid. Rule 440B(f) specifically provides that the Exchange
will execute and display a short sale order without regard to price if,
at the time of the initial display of the short sale order, the order
was at a price above the then current national best bid.
    The Exchange proposes to amend Rule 440B(e) to provide for how

Exchange systems will treat short sale orders that are not marked
``short exempt'' during a Short Sale Period, i.e., displayed short sale
orders pursuant to Rule 440B(f) or non-marketable displayable or non-
displayed short sale orders that Exchange systems have not yet re-
priced pursuant to Rule 440B(e), and that would be required to be
routed to a protected bid pursuant to Regulation NMS, which, by
definition, would be the national best bid or lower. An example of a
situation where Exchange systems would otherwise be required to route
to the national best bid includes the following: (1) A short sale order
is displayed pursuant to Rule 440B(f), (2) the Exchange enters a
``slow'' state, for example, if the Exchange reaches a liquidity
replenishment point pursuant to Exchange Rule 1000, and (3) when the
Exchange resumes ``fast'' trading, the previously displayed short sale
order crosses the national best bid.\9\ In such scenario, pursuant to
Regulation NMS, the Exchange would be required to route such previously
displayed short sale order to be executed against the national best
bid.
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    \9\ The Exchange enters a ``slow'' trading state, or ``Non-Firm
Mode'' when, pursuant to Rule 602(a)(3)(i) of Regulation NMS and
Exchange Rule 60(c)(ii)(A) and (B), the Exchange quotation is not
available for automatic execution. The Exchange resumes a ``fast''
trading state, or ``Normal Mode'' when the Exchange is open for
trading and collects, processes, and makes available to quotation
vendors the highest bid and the lowest offer, and the quotation
size, in compliance with Rule 602(a) of Regulation NMS and Exchange
Rule 60(c)(i).
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    The Exchange proposes to address how Exchange systems will treat
short sale orders that have been displayed pursuant to Rule 440B(f) or
that are not yet marketable and therefore have not yet been re-priced,
and that would otherwise be required to be routed to an away market.
For such scenarios, the Exchange proposes that rather than route such
short sale orders to the national best bid, the Exchange will instead
re-price such short sale orders to a Permitted Price, as provided for
in Rule 440B(e). In particular, the proposed amendment to Rule 440B
would add new subparagraph (e)(2), which would provide that, during a
Short Sale Period, Exchange systems will not route to an away market
short sale orders that have been displayed pursuant to Rule 440B(f) or
that have not yet been re-priced consistent with Rule 440B(e) and
instead will re-price such orders to a Permitted Price. In addition,
the proposed amendment would renumber existing subparagraph (e)(2) as
(e)(3). The Exchange further proposes to amend Rule 440B(e)(3) to
provide that Exchange systems will not route the DMM interest
identified in that subparagraph and will instead cancel such interest.
Accordingly, if Exchange systems would otherwise route such DMM
interest to an away market in compliance with Regulation NMS, during a
Short Sale Period, Exchange systems will instead cancel such DMM short
sale interest rather than route it.
    The Exchange also proposes a clarifying amendment to Rule 440B(g)
to specify that if a short sale order has been marked ``short exempt,''
Exchange systems will display, execute, and route such order without
regard to whether the order is at a Permitted Price.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\10\ in general, and furthers the objectives of Section
6(b)(5) of the Act,\11\ in particular, in that it is designed to, among
other things, prevent fraudulent and manipulative acts and practices,
to promote just and equitable principles of trade, and, in general, to
protect investors and the public interest. The proposal is designed to
implement the provisions of Rule 201 of Regulation SHO by refining the
Exchange's written policies and procedures reasonably designed to
prevent the execution or display of a short sale order of a covered
security in violation of the short sale price test restrictions
established in that rule. To that end, the proposed rule change will
establish the Exchange's procedures regarding handling of short sale
orders during a Short Sale Period that might otherwise be routed to
away markets.
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    \10\ 15 U.S.C. 78f(b).
    \11\ 15 U.S.C. 78f(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition

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

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

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

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

    The Exchange has filed the proposed rule change pursuant to Section
19(b)(3)(A)(iii) of the Act \12\ and Rule 19b-4(f)(6) thereunder.\13\
Because the proposed rule change does not: (i) Significantly affect the
protection of investors or the public interest; (ii) impose any
significant burden on competition; and (iii) become operative prior to
30 days from the date on which it was filed, or such shorter time as
the Commission may designate, if consistent with the protection of
investors and the public interest, the proposed rule change has become
effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-
4(f)(6)(iii) thereunder.
---------------------------------------------------------------------------

    \12\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \13\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6)\14\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b-4(f)(6)(iii),\15\ the Commission
may designate a shorter time if such action is consistent with the
protection of investors and the public interest. The Exchange has asked
the Commission to waive the 30-day operative delay so that the proposal
may become operative immediately upon filing. The Commission hereby
grants the request.\16\ Waiving the 30-day operative delay will allow
the Exchange to handle short sale orders during a Short Sale Period
that might otherwise be routed to an away market in a manner that is
consistent with Rule 201. Therefore, the Commission believes that it is
consistent with the protection of investors and the public interest to
waive the 30-day operative delay and designates the proposal as
operative upon filing.
---------------------------------------------------------------------------

    \14\ 17 CFR 240.19b-4(f)(6).
    \15\ 17 CFR 240.19b-4(f)(6)(iii).
    \16\ For purposes only of waiving the 30-day operative delay,
the Commission has considered the proposed rule change's impact on
efficiency, competition, and capital formation. 15 U.S.C. 78c(f).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of such proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an e-mail to<EMAIL_ADDRESS>Please include
File Number SR-NYSE-2011-11 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NYSE-2011-11. This file
number should be included on the subject line if e-mail is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street, NE.,
Washington, DC 20549-1090. Copies of the filing will also be available
for inspection and copying at the NYSE's principal office and on its
Internet Web site at http://www.nyse.com. All comments received will be
posted without change; the Commission does not edit personal
identifying information from submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-NYSE-2011-11 and should be submitted on
or before April 22, 2011.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\17\
---------------------------------------------------------------------------

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

Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-7654 Filed 3-31-11; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 76, Number 77 (Thursday, April 21, 2011)]
[Notices]
[Pages 22404-22405]
[FR Doc No: 2011-9650]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2011-N-0012]

Analgesic Clinical Trials Innovation, Opportunities, and Networks
(ACTION) Initiative

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice.

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SUMMARY: The Food and Drug Administration (FDA) is announcing the
availability of grant funds for the support of the Analgesic Clinical
Trials Innovation, Opportunities, and Networks (ACTION) Initiative. The
goal of the ACTION Initiative is to streamline the discovery and
development process for new analgesic drug products for the benefit of
public health. The ACTION Initiative is being developed, in large part,
through the establishment of a cooperative agreement with one or more
organizations. The ACTION Initiative will address major gaps in
scientific information, which can slow down analgesic clinical trials
and analgesic drug development. FDA will support the ACTION Initiative
under the authority of the Federal Food, Drug, and Cosmetic Act.

DATES: Important dates are as follows:
    1. The application due date is June 8, 2011.
    2. The anticipated start date is July 14, 2011.
    3. The opening date is April 22, 2011.
    4. The expiration date is June 9, 2011.

For Further Information and Additional Requirements Contact: Igor
Cerny, Center for Drug Evaluation and Research, Food and Drug
Administration, 10903 New Hampshire Ave., Bldg. 22, rm. 3124, Silver
Spring, MD 20993-0002,<PHONE_NUMBER>, e-mail<EMAIL_ADDRESS>
Vieda Hubbard, Office of Acquisitions and Grant Services, Food and Drug
Administration, 5630 Fishers Lane (HFA-500), Rockville, MD 20857, 301-
827-7177, e-mail<EMAIL_ADDRESS>    For more information on this funding opportunity announcement (FOA)
and to obtain detailed requirements, please refer to the full FOA
located at http://grants.nih.gov/grants/guide/ (select the ``Request
for Applications'' link), http://www.grants.gov/ (see ``For
Applicants'' section) and/or http://www.fda.gov/AboutFDA/PartnershipsCollaborations/PublicPrivatePartnershipProgram/ucm231130.htm.

SUPPLEMENTARY INFORMATION:

I. Funding Opportunity Description

RFA-FD-11-006
93.103

A. Background

    Despite the enormous advances in drug development over the past 2
or 3 decades (e.g., drugs that cure cancer and biologic drug products
that halt the progression of rheumatoid arthritis), the development of
novel analgesic drug products has lagged behind. Indeed, to this day,
the only analgesic drug products that are used widely and successfully
are opioids, acetaminophen, and nonsteroidal anti-inflammatory agents,
all of which have serious, potentially life-threatening toxicities,
even when used properly. While there has been exploration at the
earliest stages of drug development, there has been widespread
reluctance on the part of the pharmaceutical industry to take novel
products further into development. This is in no small part due to the
often daunting task of demonstrating the efficacy of analgesics in
clinical trials. Many experts in analgesic drug development believe
that it is the design of the clinical trials that is at fault in this
situation and that better trial designs will yield more successful
results. This hypothesis is certainly supported by the frequent
failures of clinical efficacy trials of opioid drug products,
considering the well established effectiveness of these products from
literally thousands of years of clinical experience. For these reasons,
additional studies are needed to assess the confounding nature of
analgesic clinical trials and analgesic drug development.

B. Research Objectives

    Based on collaboration with FDA, key stakeholder input, best
Government, academic, and industry practices, and knowledge gained
through workshops, the Grantee will be responsible for developing,
defining, and recommending projects as described in this section.
Applicants should, at a minimum, address the following three
overarching research domains in this section. The overall study design
processes within each of these domains should be aligned with
established strategic goals and provide results and recommendations in
alignment with the objectives of the ACTION Initiative.
    1. Data analysis of primarily group analgesic clinical trials data
(databases) for relationships between assay sensitivity and metrics
including, but not limited to, specific research designs and
methodological features so as to inform the future design of analgesic
clinical trials.
    2. Scientific assessment of FDA's clinical trial databases and
development of novel and alternative means of analyzing various pain
scores in a manner that effectively considers variables, such as bias
and interindividual variance.
    3. Development of methodologies for the execution and
transformation of pooled trial data from multiple relevant analgesic
trials.

C. Eligibility Information

    The following organizations/institutions are eligible to apply:
     Higher education institutions as defined in section 101 of
the Higher Education Act of 1965 (or a consortium of such
institutions).
    The following types of higher education institutions are always
encouraged to apply for National Institutes of Health support as public
or private institutions of higher education:
     Hispanic serving institutions.
     Historically Black colleges and universities.
     Tribally controlled colleges and universities.
     Alaska Native and Native Hawaiian serving institutions.
    Nonprofits other than institutions of higher education.
     A nonprofit organization described in section 501(c)(3) of
the Internal Revenue Code of 1986, which is exempt from tax under
section 501(a) of that code.
    An eligible organization that wishes to enter into a collaborative
agreement must provide an assurance that the entity will not accept
funding for a Critical Path Public-Private Partnership project from any
organization that manufactures or distributes products regulated by FDA
unless the entity provides assurances in its agreement with FDA that
the results of the Critical Path Public-Private Partnership project
will not be influenced by any source of funding.

II. Award Information/Funds Available

A. Award Amount

    It is anticipated that no more than $1 million will be allocated to
this cooperative agreement. It is anticipated that a single award will
be made.

B. Length of Support

    The scope of the proposed project will determine the project
period. The maximum period is 5 years.

III. Electronic Application, Registration, and Submission

    Only electronic applications will be accepted. To submit an
electronic application in response to this FOA, applicants should first
review the full announcement located at http://grants.nih.gov/grants/guide/ (select the ``Request for Applications'' link), http://www.grants.gov/ (see ``For Applicants'' section) and http://www.fda.gov/AboutFDA/PartnershipsCollaborations/PublicPrivatePartnershipProgram/ucm166082.htm. (FDA has verified the
Web site addresses throughout this document, but FDA is not responsible
for any subsequent changes to the Web sites after this document
publishes in the Federal Register.) For all electronically submitted
applications, the following steps are required.
     Step 1: Obtain a Dun and Bradstreet (DUNS) Number.
     Step 2: Register With Central Contractor Registration.
     Step 3: Obtain Username & Password.
     Step 4: Authorized Organization Representative (AOR)
Authorization.
     Step 5: Track AOR Status.
     Step 6: Register With Electronic Research Administration
(eRA) Commons.
    Steps 1 through 5, in detail, can be found at http://www07.grants.gov/applicants/organization_registration.jsp. Step 6, in
detail, can be found at https://commons.era.nih.gov/commons/registration/registrationInstructions.jsp. After you have followed
these steps, submit electronic applications to: http://www.grants.gov.

    Dated: April 13, 2011.
Leslie Kux,
Acting Assistant Commissioner for Policy.
[FR Doc. 2011-9650 Filed 4-20-11; 8:45 am]
BILLING CODE 4160-01-P


[Federal Register: December 16, 2008 (Volume 73, Number 242)]
[Notices]
[Page 76361-76362]
[DOCID:fr16de08-59]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2008-D-0629]

Draft Guidance for Industry on Genotoxic and Carcinogenic
Impurities in Drug Substances and Products: Recommended Approaches;
Availability

AGENCY:  Food and Drug Administration, HHS.

ACTION:  Notice.

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

SUMMARY:  The Food and Drug Administration (FDA) is announcing the
availability of a draft guidance for industry entitled ``Genotoxic and
Carcinogenic Impurities in Drug Substances and Products: Recommended
Approaches.'' This draft guidance is intended to inform pharmaceutical
manufacturers of the agency's thinking regarding genotoxic and
carcinogenic impurities in drug substances and drug products, including
biologic products that are regulated by the Center for Drug Evaluation
and Research (CDER), and to provide recommendations on how to evaluate
the safety of these impurities during clinical development and for
marketing applications. This draft guidance, when finalized, will
clarify FDA's additional testing and exposure threshold recommendations
for situations in which genotoxic or carcinogenic impurities are
present. This draft guidance addresses synthetic impurities and
degradants in drug substances, but does not otherwise address the
genotoxicity or carcinogenicity of actual drug substances or intended
drug product ingredients. This draft guidance also applies to known
starting materials or anticipated reaction products.

DATES:  Although you can comment on any guidance at any time (see 21
CFR 10.115(g)(5)), to ensure that the agency considers your comment on
this draft guidance before it begins work on the final version of the
guidance, submit written or electronic comments on the draft guidance
by February 17, 2009.

ADDRESSES:  Submit written requests for single copies of the draft
guidance to the Division of Drug Information, Center for Drug
Evaluation and Research, Food and Drug Administration, 10903 New
Hampshire Ave., Bldg. 51, rm. 2201, Silver Spring, MD 20993-0002. Send
one self-addressed adhesive label to assist that office in processing
your requests. Submit written comments on the draft guidance to the
Division of Dockets Management (HFA-305), Food and Drug Administration,
5630 Fishers Lane, rm. 1061, Rockville, MD 20852. Submit electronic
comments to http://www.regulations.gov. See the SUPPLEMENTARY
INFORMATION section for electronic access to the draft guidance
document.

FOR FURTHER INFORMATION CONTACT:  David Jacobson-Kram, Center for Drug
Evaluation and Research, Food and Drug Administration, 10903 New
Hampshire Ave., Bldg. 22, rm. 6488, Silver Spring, MD 20993-0002, 301-
796-0175.

SUPPLEMENTARY INFORMATION:

I. Background

    FDA is announcing the availability of a draft guidance for industry
entitled ``Genotoxic and Carcinogenic Impurities in Drug Substances and
Products: Recommended Approaches.'' This draft guidance is intended to
inform pharmaceutical manufacturers of the agency's thinking regarding
genotoxic and carcinogenic impurities in drug substances and drug
products, including biologic products regulated by CDER,

and to provide recommendations on how to evaluate the safety of these
impurities. Genotoxic compounds, because of their ability to induce
genetic mutations, chromosomal breaks, and/or chromosomal
rearrangements, have the potential for being carcinogenic to humans.
    Regulatory issues related to the presence of genotoxic or
carcinogenic impurities have arisen with greater frequency because of
enhanced technological capability in identifying impurities and an
increased focus on their potential for negatively affecting human
health. FDA guidance documents that address issues related to
impurities and residual solvents include the following International
Conference on Harmonisation (ICH) guidances for industry: ``Q3A(R2)
Impurities in New Drug Substances,'' ``Q3B(R2) Impurities in New Drug
Products,'' and ``Q3C(R3) Impurities: Guideline for Residual
Solvents.'' However, these ICH guidances do not fully address
situations in which genotoxic or carcinogenic impurities are present.
    This draft guidance describes acceptable approaches for initially
evaluating the genotoxic potential of impurities as well as approaches
for handling impurities with known genotoxic or carcinogenic potential.
These approaches include prevention of the impurity formation,
reduction of the impurity level to an acceptable threshold, or
additional characterization of the genotoxic and carcinogenic risk. The
draft guidance also discusses various factors that should be considered
in the overall risk assessment based on the drug indication, duration
of use, and the clinical development stage.
    FDA has developed this draft guidance because these types of
impurities are being identified more frequently and because FDA has
received a number of questions from industry regarding acceptable
approaches.
    This draft guidance is being issued consistent with FDA's good
guidance practices regulation (21 CFR 10.115). The draft guidance, when
finalized, will represent the agency's current thinking on recommended
approaches for genotoxic and carcinogenic impurities in drug substances
and products. It does not create or confer any rights for or on any
person and does not operate to bind FDA or the public. An alternative
approach may be used if such approach satisfies the requirements of the
applicable statutes and regulations.

II. The Paperwork Reduction Act of 1995

    This guidance refers to previously approved collections of
information that are subject to review by the Office of Management and
Budget (OMB) under the Paperwork Reduction Act of 1995 (44 U.S.C. 3501-
3520). The collections of information in 21 CFR parts 312 and 314 have
been approved under OMB Control Numbers 0910-0014 and 0910-0001,
respectively.

III. Comments

    Interested persons may submit to the Division of Dockets Management
(see ADDRESSES) written or electronic comments regarding this document.
Submit a single copy of electronic comments or two paper copies of any
mailed comments, except that individuals may submit one paper copy.
Comments are to be identified with the docket number found in brackets
in the heading of this document. Received comments may be seen in the
Division of Dockets Management between 9 a.m. and 4 p.m., Monday
through Friday.
    Please note that on January 15, 2008, the FDA Division of Dockets
Management Web site transitioned to the Federal Dockets Management
System (FDMS). FDMS is a Government-wide, electronic docket management
system. Electronic comments or submissions will be accepted by FDA only
through FDMS at http://www.regulations.gov.

IV. Electronic Access

    Persons with access to the Internet may obtain the document at
either http://www.fda.gov/cder/guidance/index.htm or http://
www.regulations.gov.

    Dated: December 8, 2008.
Jeffrey Shuren,
Associate Commissioner for Policy and Planning.
[FR Doc. E8-29674 Filed 12-15-08; 8:45 am]

BILLING CODE 4160-01-S


[Federal Register: March 2, 2009 (Volume 74, Number 39)]
[Notices]
[Page 9121-9122]
[DOCID:fr02mr09-64]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-59432; File No. SR-FINRA-2009-005]

Self-Regulatory Organizations; Financial Industry Regulatory
Authority, Inc.; Notice of Filing and Immediate Effectiveness of
Proposed Rule Change To Update Rule Cross-References and Make Other
Various Non-Substantive Technical Changes to FINRA Rules

February 23, 2009.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on February 13, 2009, Financial Industry Regulatory Authority, Inc.
(``FINRA'') (f/k/a National Association of Securities Dealers, Inc.
(``NASD'')) filed with the Securities and Exchange Commission (``SEC''
or ``Commission'') the proposed rule change as described in Items I and
II below, which Items have been prepared by FINRA. FINRA has designated
the proposed rule change as constituting a ``non-controversial'' rule
change under paragraph (f)(6) of Rule 19b-4 under the Act,\3\ which
renders the proposal effective upon receipt of this filing by the
Commission. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

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

    FINRA is proposing to update rule cross-references and make other
non-substantive technical changes to certain FINRA rules that have been
adopted in the consolidated FINRA rulebook.
    The text of the proposed rule change is available on FINRA's Web
site at http://www.finra.org, at the principal office of FINRA and at
the Commission's Public Reference Room.

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

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

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

1. Purpose
    FINRA is in the process of developing a new consolidated rulebook
(``Consolidated FINRA Rulebook'').\4\ That process involves FINRA
submitting to the Commission for approval a series of proposed rule
changes over time to adopt rules in the Consolidated FINRA Rulebook.
The phased adoption and implementation of those rules necessitates
periodic amendments to update rule cross-references and other non-
substantive technical changes in the Consolidated FINRA Rulebook.
---------------------------------------------------------------------------

    \4\ The current FINRA rulebook consists of (1) FINRA Rules; (2)
NASD Rules; and (3) rules incorporated from NYSE (``Incorporated
NYSE Rules'') (together, the NASD Rules and Incorporated NYSE Rules
are referred to as the ``Transitional Rulebook''). While the NASD
Rules generally apply to all FINRA members, the Incorporated NYSE
Rules apply only to those members of FINRA that are also members of
the NYSE (``Dual Members''). The FINRA Rules apply to all FINRA
members, unless such rules have a more limited application by their
terms. For more information about the rulebook consolidation
process, see FINRA Information Notice, March 12, 2008 (Rulebook
Consolidation Process).
---------------------------------------------------------------------------

    The proposed rule change would update rule cross-references in
FINRA Rules 2360, 2370, 6181, 6635, 9217 and 9610 that are needed as
the result of Commission approval of three recent FINRA proposed rule
changes.\5\ In addition, the proposed rule change would amend FINRA
Rule 7410(m) to update cross-references to NYSE Rule 80A, which was
renumbered as NYSE Rule 132B.\6\ Finally, the proposed rule change
would amend FINRA Rule 5130 to reflect a change in FINRA style
convention when referencing SEC rules and regulations.
---------------------------------------------------------------------------

    \5\ See Securities Exchange Act Release No. 58643 (September 25,
2008), 73 FR 57174 (October 1, 2008) (Order Approving File Nos. SR-
FINRA-2008-021; SR-FINRA-2008-022; SR-FINRA-2008-026; SR-FINRA-2008-
028 and SR-FINRA-2008-029); Securities Exchange Act Release No.
58661 (September 26, 2008), 73 FR 57395 (October 2, 2008) (Order
Approving File No. SR-FINRA-2008-030); Securities Exchange Act
Release No. 58932 (November 12, 2008), 73 FR 69696 (November 19,
2008) (Order Approving File No. SR-FINRA-2008-032).
    \6\ See Securities Exchange Act Release No. 56726 (October 31,
2007), 72 FR 62719 (November 6, 2007) (Notice of Filing and
Immediate Effectiveness of File No. SR-NYSE-2007-96).
---------------------------------------------------------------------------

    FINRA has filed the proposed rule change for immediate
effectiveness and has requested that the SEC waive the requirement that
the proposed rule change not become operative for 30 days after the
date of the filing, such that FINRA could implement the proposed rule
change on February 17, 2009, the date on which certain of the
previously approved rule changes will also be implemented.\7\
---------------------------------------------------------------------------

    \7\ See FINRA Regulatory Notice 08-78 (December 2008) (FINRA
Announces SEC Approval and Effective Date for New Consolidated FINRA
Rules Relating to Warrants, Options and Security Futures).
---------------------------------------------------------------------------

2. Statutory Basis
    FINRA believes that the proposed rule change is consistent with the
provisions of Section 15A(b)(6) of the Act,\8\ which requires, among
other things, that FINRA rules must be designed to

prevent fraudulent and manipulative acts and practices, to promote just
and equitable principles of trade, and, in general, to protect
investors and the public interest. FINRA believes the proposed rule
change will provide greater clarity to members and the public regarding
FINRA's rules.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78o-3(b)(6).
---------------------------------------------------------------------------

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

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

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

    Written comments were neither solicited nor received.

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

    Because the proposed rule change does not: (i) Significantly affect
the protection of investors or the public interest; (ii) impose any
significant burden on competition; and (iii) become operative for 30
days after the date of filing, or such shorter time as the Commission
may designate if consistent with the protection of investors and the
public interest, the proposed rule change has become effective pursuant
to Section 19(b)(3)(A) of the Act \9\ and subparagraph (f)(6) of Rule
19b-4 thereunder.\10\ As required under Rule 19b-4(f)(6)(iii),\11\
FINRA provided the Commission with written notice of its intent to file
the proposed rule change, along with a brief description and text of
the proposed rule change, at least five business days prior to the
filing of the proposed rule change.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78s(b)(3)(A).
    \10\ 17 CFR 240.19b-4(f)(6).
    \11\ 17 CFR 240.19b-4(f)(6)(iii).
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) normally may
not become operative prior to the 30th day after the date of
filing.\12\ However, Rule 19b-4(f)(6)(iii) \13\ permits the Commission
to designate a shorter time if such action is consistent with the
protection of investors and the public interest. FINRA requested that
the Commission waive the 30-day operative delay and designate the
proposed rule change to become operative upon filing so that FINRA
could implement the proposed rule change on February 17, 2009, the same
date on which certain of the previously approved rule changes relating
the Consolidated FINRA Rulebook will be implemented. The Commission
believes that waiving the 30-day operative delay is consistent with the
protection of investors and the public interest. In particular, the
Commission does not believe that the proposed rule change presents any
novel issues. The proposed rule change makes non-substantive changes to
update FINRA rules in the Consolidated FINRA Rulebook to reflect
changes to FINRA rules previously published for comment by the
Commission. Accordingly, the Commission designates the proposed rule
change to be operative upon filing with the Commission.\14\
---------------------------------------------------------------------------

    \12\ See id.
    \13\ Id.
    \14\ For purposes only of waiving the 30-day operative delay,
the Commission has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule
change, the Commission may summarily abrogate the rule change if it
appears to the Commission that such action is necessary or appropriate
in the public interest, for the protection of investors, or otherwise
in furtherance of the purposes of the Act.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://
www.sec.gov/rules/sro.shtml); or
     Send an e-mail to<EMAIL_ADDRESS>Please include
File Number SR-FINRA-2009-005 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-FINRA-2009-005. This
file number should be included on the subject line if e-mail is used.
To help the Commission process and review your comments more
efficiently, please use only one method. The Commission will post all
comments on the Commission's Internet Web site (http://www.sec.gov/
rules/sro.shtml). Copies of the submission, all subsequent amendments,
all written statements with respect to the proposed rule change that
are filed with the Commission, and all written communications relating
to the proposed rule change between the Commission and any person,
other than those that may be withheld from the public in accordance
with the provisions of 5 U.S.C. 552, will be available for inspection
and copying in the Commission's Public Reference Room, 100 F Street,
NE., Washington, DC 20549, on official business days between the hours
of 10 a.m. and 3 p.m. Copies of the filing 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-2009-005 and should be
submitted on or before March 23, 2009.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\15\
---------------------------------------------------------------------------

    \15\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-4300 Filed 2-27-09; 8:45 am]

BILLING CODE 8011-01-P


[Federal Register Volume 88, Number 164 (Friday, August 25, 2023)]
[Proposed Rules]
[Pages 58174-58176]
[FR Doc No: 2023-18323]

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

Coast Guard

33 CFR Part 117

[Docket No. USCG-2022-0520]
RIN 1625-AA09

Drawbridge Operation Regulation; Mianus River, Greenwich, CT

AGENCY: Coast Guard, DHS.

ACTION: Supplemental notice of proposed rulemaking.

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SUMMARY: The Coast Guard proposes to modify the operating schedule that
governs the Metro-North (Cos Cob) Bridge, across Mianus River, mile
1.0, at Greenwich, CT. The bridge owner, Metro-North Railroad (MNR),
submitted a request on May 5, 2022 to modify the regulation to align
with the Metro-North ``WALK'' Bridge train schedule and avoid bridge
openings during peak transit hours. It is expected that this change to
the regulations will better serve the needs of the community while
continuing to meet the reasonable needs of navigation. We invite your
comments on this proposed rulemaking. The original notice of proposed
rulemaking did not accurately reflect the owner's request. As such, the
Coast Guard is issuing a supplemenal notice of proposed rulemaking to
accurately describe the owner's request and proposed changes to the
existing regulation.

DATES: Comments and related material must reach the Coast Guard on or
before September 25, 2023.

ADDRESSES:  You may submit comments identified by docket number USCG-
2022-0520 using Federal Decision Making Portal at https://www.regulations.gov.
    See the ``Public Participation and Request for Comments'' portion
of the SUPPLEMENTARY INFORMATION section below for instructions on
submitting comments.

FOR FURTHER INFORMATION CONTACT: If you have questions on this proposed
rule, call or email Ms. Stephanie E. Lopez, First Coast Guard District,
Project Officer, telephone<PHONE_NUMBER>, email
[email protected].

SUPPLEMENTARY INFORMATION:

I. Table of Abbreviations

CFR Code of Federal Regulations
DHS Department of Homeland Security
FR Federal Register
OMB Office of Management and Budget
SNPRM Supplemental Notice of Proposed Rulemaking
Sec.  Section
U.S.C. United States Code
MNR Metro-North Railroad

II. Background, Purpose and Legal Basis

    The Metro-North (Cos Cob) Bridge at mile 1.0, across Mianus River,
Greenwich, CT, has a vertical clearance of 20 feet at mean high water
and a horizontal clearance of approximately 67 feet. Waterway users
include recreational and commercial vessels, including fishing vessels.
    The existing drawbridge operating regulations are listed at 33 CFR
117.209. Under the current regulation, the draw shall open on signal
from 5 a.m. to 9 p.m. but no later than 20 minutes after the signal to
open unless a train is scheduled to cross. Once the train scheduled to
cross has passed the Greenwich or Riverside stations, the bridge will
open once the train has made passage. From April 1 through October 31,
from 9 p.m. to 5 a.m., the bridge will open after at least a four-hour
advance notice is given. From November 1 through March 30, from 9 p.m.
to 5 a.m., the bridge will open after at least a twenty-four-hour
advance notice is given.
    MNR is requesting the modification of the requirements in 33 CFR
part 117.209 to align with the existing requirements for the Metro-
North ``WALK'' Bridge, across the Norwalk River, at mile 0.1.
    The Cos Cob Bridge is located at one of the busiest rail segments
in the United States and the Northeast Corridor. Openings at Cos Cob
Bridge, between the calendar years of 2019 and 2021, resulted in
seventy-one (71) delays to MNR train service. A delay due to a bridge
opening has cascading affects, resulting in multiple delayed and late
trains. Delays due to the openings of Cos Cob Bridge were notably high
among the drawbridges on MNR service territory. Aligning the Cos Cob
Bridge regulation with the WALK Bridge regulation 33 CFR 117.217 (b)
provides a balance between railroad operations and vessels interest in
waterway passage.

III. Discussion of Supplemental Proposed Rule

    The supplemental proposed rule provides the draw to open on signal
between 4:30 a.m. and 9 p.m. after at least a two-hour advance notice
is given via marine radio or telephone. The bridge will not open from
5:45 a.m. through 9:45 a.m. and from 4 p.m. through 8 p.m. From 9 p.m.
through 4:30 a.m. the draw shall open on signal after at least a four-
hour advance notice is given via marine radio or telephone. A delay in
opening the draw not to exceed 10 minutes may occur when a train
scheduled to cross the bridge without stopping has entered the
drawbridge lock. The reason for these changes is to minimize train
delays while balancing the interests of vessels in the waterway.

IV. Regulatory Analyses

    We developed this supplemental proposed rule after considering
numerous statutes and Executive Orders related to rulemaking. A summary
of our analysis based on these statutes and Executive Orders follows.

A. Regulatory Planning and Review

    Executive Orders 12866 and 13563 direct agencies to assess the
costs and benefits of available regulatory alternatives and, if
regulation is necessary, to select regulatory approaches that maximize
net benefits. This SNPRM has not been designated a ``significant
regulatory action,'' under Executive Order 12866, as amended by
Executive Order 14094 (Modernizing Regulatory Review). Accordingly, the
SNPRM has not been reviewed by the Office of Management and Budget
(OMB).
    This regulatory action determination is based on the ability that
vessels can still transit the bridge given advanced notice.

B. Impact on Small Entities

    The Regulatory Flexibility Act of 1980 (RFA), 5 U.S.C. 601-612, as
amended, requires Federal agencies to consider the potential impact of
regulations on small entities during rulemaking. The term ``small
entities'' comprises small businesses, not-for-profit organizations
that are independently owned and operated and are not dominant in their
fields, and governmental jurisdictions with populations of less than
50,000. The Coast Guard certifies under 5 U.S.C. 605(b) that this
supplemental proposed rule would not have a significant economic impact
on a substantial number of small entities.
    While some owners or operators of vessels intending to transit the
bridge may be small entities, for the reasons stated in section IV.A.
above this supplemental proposed rule would not have a significant
economic impact on any vessel owner or operator.
    If you think that your business, organization, or governmental
jurisdiction qualifies as a small entity and that this rule would have
a significant economic impact on it, please submit a comment (see
ADDRESSES) explaining why you think it qualifies and how and to what
degree this rule would economically affect it.
    Under section 213(a) of the Small Business Regulatory Enforcement
Fairness Act of 1996 (Pub. L. 104-121), we want to assist small
entities in understanding this proposed rule. If the rule would affect
your small business, organization, or governmental jurisdiction and you
have questions concerning its provisions or options for compliance,
please contact the person listed in the FOR FURTHER INFORMATION CONTACT
section. The Coast Guard will not retaliate against small entities that
question or complain about this proposed rule or any policy or action
of the Coast Guard.

C. Collection of Information

    This proposed rule would call for no new collection of information
under the Paperwork Reduction Act of 1995 (44 U.S.C. 3501-3520.).

D. Federalism and Indian Tribal Governments

    A rule has implications for federalism under Executive Order 13132
(Federalism), if it has a substantial direct effect on the States, on
the relationship between the National Government and the States, or on
the distribution of power and responsibilities among the various levels
of government. We have analyzed this supplemental proposed rule under
that Order and have determined that it is consistent with the
fundamental federalism principles and preemption requirements described
in Executive Order 13132.
    Also, this supplemental proposed rule does not have tribal
implications under Executive Order 13175 (Consultation and Coordination
with Indian Tribal Governments) because it would not have a substantial
direct effect on one or more Indian tribes, on the relationship between
the Federal Government and Indian tribes, or on the distribution of
power and responsibilities between the Federal Government and Indian
tribes. If you believe this proposed rule has implications for
federalism or Indian tribes, please contact the person listed in the
FOR FURTHER INFORMATION CONTACT section.

E. Unfunded Mandates Reform Act

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

F. Environment

    We have analyzed this rule under Department of Homeland Security
Management Directive 023-01, Rev.1, associated implementing
instructions, and Environmental Planning Policy COMDTINST 5090.1
(series), which guide the Coast Guard in complying with the National
Environmental Policy Act of 1969 (NEPA)(42 U.S.C. 4321-4370f). The
Coast Guard has determined that this action is one of a category of
actions that do not individually or cumulatively have a significant
effect on the human environment. This proposed rule promulgates the
operating regulations or procedures for drawbridges. Normally such
actions are categorically excluded from further review, under paragraph
L49, of Chapter 3, Table 3-1 of the U.S. Coast Guard Environmental
Planning Implementation Procedures.
    Neither a Record of Environmental Consideration nor a Memorandum
for the Record are required for this rule. We seek any comments or
information that may lead to the discovery of a significant
environmental impact from this proposed rule.

G. Protest Activities

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

V. Public Participation and Request for Comments

    We view public participation as essential to effective rulemaking,
and will consider all comments and material received during the comment
period. Your comment can help shape the outcome of this rulemaking. If
you submit a comment, please include the docket number for this
rulemaking, indicate the specific section of this document to which
each comment applies, and provide a reason for each suggestion or
recommendation.
    We encourage you to submit comments through the Federal Decision
Making Portal at https://www.regulations.gov. To do so, go to https://www.regulations.gov, type USCG- 2022-0520 in the search box and click
``Search.'' Next, look for this document in the Search Results column,
and click on it. Then click on the Comment option. If your material
cannot be submitted using https://www.regulations.gov, contact the
person in the FOR FURTHER INFORMATION CONTACT section of this document
for alternate instructions.
    To view documents mentioned in this proposed rule as being
available in the docket, find the docket as described in the previous
paragraph, and then select ``Supporting & Related Material'' in the
Document Type column. Public comments will also be placed in our online
docket and can be viewed by following instructions on the https://www.regulations.gov Frequently Asked

Questions web page. We review all comments received, but we will only
post comments that address the topic of the proposed rule. We may
choose not to post off-topic, inappropriate, or duplicate comments that
we receive. Additionally, if you go to the online docket and sign up
for email alerts, you will be notified when comments are posted or a
final rule is published of any posting or updates to the docket.
    We accept anonymous comments. Comments we post to https://www.regulations.gov will include any personal information you have
provided. For more about privacy and submissions in response to this
document, see DHS's eRulemaking System of Records notice (85 FR 14226,
March 11, 2020).

List of Subjects in 33 CFR Part 117

    Bridges.

    For the reasons discussed in the preamble, the Coast Guard proposes
to amend 33 CFR part 117 as follows:

PART 117--DRAWBRIDGE OPERATION REGULATIONS

0
1. The authority citation for part 117 continues to read as follows:

    Authority:  33 U.S.C. 499; 33 CFR 1.05-1; and DHS Delegation No.
00170.1, Revision No. 01.3.
0
2. Revise Sec.  117.209 to read as follows:

Sec.  117.209  Mianus

    The draw of the Metro-North (Cos Cob) bridge, mile 1.0 at
Greenwich, will operate as follows:
    (a) The draw will open on signal between 4:30 a.m. and 9 p.m. after
at least a two-hour advance notice is given; except that, from 5:45
a.m. through 9:45 a.m. and from 4 p.m. through 8 p.m., Monday through
Friday excluding holidays, the draw need not open for the passage of
vessel traffic unless an emergency exists.
    (b) From 9 p.m. through 4:30 a.m. the draw will open on signal
after at least a four-hour advance notice is given.
    (c) A delay in opening the draw not to exceed 10 minutes may occur
when a train scheduled to cross the bridge without stopping has entered
the drawbridge lock.
    (d) Requests for bridge openings may be made by calling the bridge
via marine radio VHF FM Channel 13 or the telephone number posted at
the bridge.

    Dated: August 20, 2023.
J.W. Mauger,
Rear Admiral, U.S. Coast Guard, Commander, First Coast Guard District.
[FR Doc. 2023-18323 Filed 8-24-23; 8:45 am]
BILLING CODE 9110-04-P


Personal communication with D. Bottcher, July 2010.

Soil and Water Engineering Technology, Inc.

Cost estimates for owner/typical agricultural control programs from SWET
(2008a) are still applicable in 2010.