[Federal Register Volume 86, Number 153 (Thursday, August 12, 2021)]
[Notices]
[Pages 44445-44446]
[FR Doc No: 2021-17159]

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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-521, OMB Control No. 3235-0579]

Proposed Collection; Comment Request

Upon Written Request Copies Available From: Securities and Exchange
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC
20549-2736

Extension:
    Regulation BTR

    Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange
Commission (``Commission'') is soliciting comments on the collection of
information summarized below. The Commission plans to submit this
existing collection of information to the Office of Management and
Budget for extension and approval.
    Regulation Blackout Trade Restriction (``Regulation BTR'') (17 CFR
245.100-245.104) clarifies the scope and application of Section 306(a)
of the Sarbanes-Oxley Act of 2002 (``Act'') (15 U.S.C. 7244(a)).
Section 306(a)(6) [15 U.S.C.7244(a)(6)] of the Act requires an issuer
to provide timely notice to its directors and executive officers and to
the Commission of the imposition of a blackout period that would
trigger the statutory trading prohibition of Section 306(a)(1) [15
U.S.C. 7244(a)(1)]. Section 306(a) of the Act prohibits any director or
executive officer of an issuer of any equity security, directly or
indirectly, from purchasing, selling or otherwise acquiring or
transferring any equity security of that issuer during any blackout
period with respect to such equity security, if the director or
executive officer acquired the equity security in connection with his
or her service or employment. Approximately 1,230 issuers file
Regulation BTR notices approximately 5 times a year for a total of
6,150 responses. We estimate that it takes approximately 2 hours to
prepare the blackout notice for a total annual burden of 2,460 hours.
The issuer prepares 75% of the 2,460 annual burden hours for a total
reporting burden of (1,230 issuers x 2 hours per issuer x 0.75) 1,845
hours. In addition, we estimate that an issuer distributes a

notice to five directors and executive officers at an estimated 5
minutes per notice (1,230 blackout period x 5 notices x 5 minutes) for
a total reporting burden of 512 hours. The combined annual reporting
burden is (1,845 hours + 512 hours) 2,357 hours.
    Written comments are invited on: (a) Whether this proposed
collection of information is necessary for the proper performance of
the functions of the agency, including whether the information will
have practical utility; (b) the accuracy of the agency's estimate of
the burden imposed by the collection of information; (c) ways to
enhance the quality, utility, and clarity of the information collected;
and (d) ways to minimize the burden of the collection of information on
respondents, including through the use of automated collection
techniques or other forms of information technology. Consideration will
be given to comments and suggestions submitted in writing within 60
days of this publication.
    An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless it displays a
currently valid control number.
    Please direct your written comment to David Bottom, Director/Chief
Information Officer, Securities and Exchange Commission, c/o Cynthia
Roscoe, 100 F Street NE, Washington, DC 20549 or send an email to:
<EMAIL_ADDRESS>
    Dated: August 6, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-17159 Filed 8-11-21; 8:45 am]
BILLING CODE 8011-01-P


                             SUPPORTING STATEMENT
                        ENVIRONMENTAL PROTECTION AGENCY

NESHAP for Steel Pickling, HCl Process Facilities and Hydrochloric Acid Regeneration Plants (40 CFR Part 63, Subpart CCC) (Renewal)

1.  Identification of the Information Collection

      1(a)  Title of the Information Collection

NESHAP for Steel Pickling, HCl Process Facilities and Hydrochloric Acid Regeneration Plants (40 CFR Part 63, Subpart CCC) (Renewal), EPA ICR Number 1821.07, OMB Control Number 2060-0419

      1(b)  Short Characterization/Abstract

      The National Emission Standards for Hazardous Air Pollutants (NESHAP) for Steel Pickling, HCl Process Facilities and Hydrochloric Acid Regeneration Plants (40 CFR part 63, subpart CCC) were proposed on September 18, 1997 (62 FR 49051), and promulgated on June 22, 1999 (64 FR 33202).  This rule applies to all facilities that pickle steel using hydrochloric acid or regenerate hydrochloric acid, and are either major sources or part of a facility that is a major source.  This regulation does not apply to any pickling line that uses an acid other than hydrochloric acid or an acid solution containing either less than 6 percent hydrochloric acid (HCl) or at a temperature less than 100° F.  This information is being collected to assure compliance with 40 CFR part 63, subpart CCC.

      In general, all NESHAP standards require initial notifications, performance tests, and periodic reports by the owners/operators of the affected facilities.  They are also required to maintain records of the occurrence and duration of any startup, shutdown, or malfunction in the operation of an affected facility, or any period during which the monitoring system is inoperative.  These notifications, reports, and records are essential in determining compliance, and are required of all affected facilities subject to NESHAP.

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      Any owner/operator subject to the provisions of this part shall maintain a file of these measurements, and retain the file for at least five years following the date of such measurements, maintenance reports, and records.  All reports are sent to the delegated state or local authority.       In the event that there is no such delegated authority, the reports are sent directly to the U. S. Environmental Protection Agency (EPA) regional office.

      Based on our consultations with industry representatives, there is an average of 1.14 affected facilities at each plant site, and each plant site has only one respondent (i.e., the owner/operator of the plant site).

      Over the next three years, an average of 72 respondents (i.e. 64 of 82 existing steel pickling facilities and 8 acid regeneration plants using hydrochloric acid) per year will be subject to the standard, and no additional respondents will become subject to the standard in the next three years.

      All of the steel pickling, HCl process facilities and the hydrochloric acid regeneration plants in the United States are owned and operated by the steel pickling, HCl process facilities and the hydrochloric acid regeneration industry (the "Affected Public").  None of the facilities in the United States are owned by state, local, tribal or the Federal government.  They are all privately- owned, for-profit businesses.  The burden to the "Affected Public" is listed below in Table 1: Annual Respondent Burden and Cost − NESHAP for Steel Pickling, HCl Process Facilities and Hydrochloric Acid Regeneration Plants (40 CFR Part 63, Subpart CCC) (Renewal).  The Federal government burden associated with the review of reports submitted by the respondent is shown below in Table 2: Average Annual EPA Burden and Cost − NESHAP for Steel Pickling, HCl Process Facilities and Hydrochloric Acid Regeneration Plants (40 CFR Part 63, Subpart CCC) (Renewal).

      The Office of Management and Budget (OMB) approved the currently active Information Collection Request (ICR) without any "Terms of Clearance."

2.  Need for and Use of the Collection

      2(a)  Need/Authority for the Collection

      The EPA is charged under section 112 of the Clean Air Act, as amended, to establish standards of performance for each category or subcategory of major sources and area sources of hazardous air pollutants (HAP).  These standards are applicable to new or existing sources of HAP and shall require the maximum degree of emission reduction.  In addition, section 114(a) states that the Administrator may require any owner or operator subject to any requirement of this Act to:

            (A) Establish and maintain such records; (B) make such reports;    (C) install, use, and maintain such monitoring equipment, and use such audit procedures, or methods; (D) sample such emissions (in accordance with such procedures or methods, at such locations, at such intervals, during such periods, and in such manner as the Administrator shall prescribe); (E) keep records on control equipment parameters, production variables or other indirect data when direct monitoring of emissions is impractical; (F) submit compliance certifications in accordance with Section 114(a)(3);   and (G) provide such other information as the Administrator may reasonably require.

      In the Administrator's judgment, hydrochloric acid emissions from continuous and batch pickling lines and acid regeneration units, and chlorine emissions from acid regeneration units cause or contribute to air pollution that may reasonably be anticipated to endanger public health or welfare.  Therefore, the NESHAP was promulgated for this source category at 40 CFR part 63, subpart CCC.

      2(b)  Practical Utility/Users of the Data

      The recordkeeping and reporting requirements in the standard ensure compliance with the applicable regulations which were promulgated in accordance with the Clean Air Act.  In addition, the collected information is used for targeting inspections and as evidence in legal proceedings.

      Performance tests are required in order to determine an affected facility's initial capability to comply with the emission standard.  Continuous emission monitors are used to ensure compliance with the standard at all times.  During the performance tests, a record of the operating parameters under which compliance was achieved may be recorded and used to determine compliance in place of a continuous emission monitor.

      The notifications required in the standard are used to inform the Agency or delegated authority when a source becomes subject to the requirements of the regulations.  The reviewing authority may then inspect the source to ensure that the pollution control devices are properly installed and operated, that leaks are being detected and repaired, and that the standards are being met.  The performance test may also be observed.

      The required semiannual reports are used to determine periods of excess emissions, identify problems at the facility, verify operation/maintenance procedures and for compliance determinations.

3.  Non-duplication, Consultations, and Other Collection Criteria

      The requested recordkeeping and reporting are required under 40 CFR part 63, subpart CCC.

      3(a)  Non-duplication

      If the subject standards have not been delegated, the information is sent directly to the appropriate EPA regional office.  Otherwise, the information is sent directly to the delegated state or local agency.  If a state or local agency has adopted their own similar standards to implement the Federal standards, a copy of the report submitted to the state or local agency can be sent to the Administrator in lieu of the report required by the Federal standards.  Therefore, no duplication exists.

      3(b)  Public Notice Required Prior to ICR Submission to OMB
      An announcement of a public comment period for the renewal of this ICR was published in the Federal Register (76 FR 26900) on May 9, 2011.  No comments were received on the burden published in the Federal Register.

      3(c)  Consultations

      The Agency has consulted industry experts and internal data sources to project the number of affected facilities and industry growth over the next three years.  The primary source of information as reported by industry, in compliance with the recordkeeping and reporting provisions in the standard, is the Online Tracking Information System (OTIS), which is operated and maintained by EPA's Office of Compliance.  OTIS is the EPA database for the collection, maintenance, and retrieval of all compliance data.  We estimate that there are on average 72 existing respondents subject to the reporting requirements of this standard, and that no new sources each year will become subject to the standard over the three-year period covered by this ICR.

      Industry trade associations and other interested parties were provided an opportunity to comment on the burden associated with the standard as it was being developed.  In developing this ICR, we contacted: 1) the American Iron and Steel Institute (AISI), at<PHONE_NUMBER>; 2) the Steel Manufacturers Association, at<PHONE_NUMBER>; and 3) the U. S. Geological Survey at<PHONE_NUMBER>.  EPA did not receive any comments from the consultations.

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      It is our policy to respond after a thorough review of comments received since the last ICR renewal as well as those submitted in response to the first Federal Register notice.
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      3(d)  Effects of Less Frequent Collection

      Less frequent information collection would decrease the margin of assurance that facilities are continuing to meet the standards.  Requirements for information gathering and recordkeeping are useful techniques to ensure that good operation and maintenance practices are applied and emission limitations are met.  If the information required by these standards was collected less frequently, the proper operation and maintenance of control equipment and the possibility of detecting violations would be less likely.

      3(e)  General Guidelines

      These reporting or recordkeeping requirements do not violate any of the regulations established by OMB at 5 CFR part 1320, section 1320.5.

      These standards require the respondents to maintain all records, including reports and notifications for at least five years.  This is consistent with the General Provisions as applied to   the standards.  EPA believes that the five-year records retention requirement is consistent with the Part 70 permit program and the five-year statute of limitations on which the permit program is based.  The retention of records for five years allows EPA to establish the compliance history of a source, any pattern of non-compliance, and to determine the appropriate level of enforcement action.  EPA has found that the most flagrant violators have violations extending beyond the five years.  In addition, EPA would be prevented from pursuing the violators due to the destruction or nonexistence of essential records.

      3(f)  Confidentiality

      Any information submitted to the Agency for which a claim of confidentiality is made will be safeguarded according to the Agency policies set forth in title 40, chapter 1, part 2, subpart B - Confidentiality of Business Information (CBI) (see 40 CFR 2; 41 FR 36902, September 1, 1976; amended by 43 FR 40000, September 8, 1978; 43 FR 42251, September 20, 1978; 44 FR 17674, March 23, 1979).
      3(g)  Sensitive Questions

      The reporting or recordkeeping requirements in the standard do not include sensitive questions.

4.  The Respondents and the Information Requested

      4(a)  Respondents/SIC Codes

      The respondents to the recordkeeping and reporting requirements are steel pickling, HCl process facilities and hydrochloric acid regeneration plants.  The United States Standard Industrial Classification (SIC) codes for the respondents affected by the standards, which correspond to the North American Industry Classification System (NAICS) codes, are listed below for steel pickling, HCL process facilities and hydrochloric acid regeneration plants.

                    Standard (40 CFR, part 63, subpart CCC)
                                   SIC Codes
                                  NAICS Codes
Steel Works, Blast Furnaces (including Coke Ovens), and Rolling Mills (except coke ovens not integrated with steel mills)
                                     3312
                                    331111
Rolled Steel Shape Manufacturing
                                     3312
                                     31221
Steel Wiredrawing and Steel Nails and Spikes (steel, wire drawing)
                                     3315
                                    331222
Cold-Rolled Steel Sheet, Strip and Bars
                                     3316
                                    331221
Steel Pipes and Tubes
                                     3317
                                     33121

      4(b)  Information Requested

            (i)  Data Items

      In this ICR, all the data recorded or reported is required by the National Emission Standards for Hazardous Air Pollutants for Steel Pickling, HCl Process Facilities and Hydrochloric Acid Regeneration Plants (40 CFR Part 63, Subpart CCC).

      A source must make the following reports:

                                 Notifications
Notification when an area source subsequently becomes subject to the rule requirements
63.9(b)(1), 63.1163(a)(1)
Notification of rule applicability
63.9(a)(2), 63.1163(a)(2)
Notification and application of construction or reconstruction
63.9(b)(3-4), 63.1163(a)(3-4)
Notification and application of intent to construct a new affected source
63.9(b)(5), 63.1163(a)(5)
Request for an extension of compliance
63.1163(b)
Notification that the source is subject to special compliance requirements
63.1163(c)
Notification of performance tests
63.7(b), 63.9(e), 63.1163(d)
Notification of physical or operational change which may increase the emission rate
N/A
Notification of compliance status
63.9(h), 63.1163(e)

                                    Reports
Report of performance test results
63.10(d)(2), 63.1164(a),
Demonstration of continuous monitoring system, if applicable
63.9(g)
Progress reports, if applicable
63.6(i), 63.1164(b)
A startup, shutdown, malfunction (SSM) plan and periodic SSM reports when there is a deviation from the plan
63.10(d)(5)(1), 63.1164(c)(1-3)

      A source must keep the following records:

                                Recordkeeping
Startups, shutdowns, malfunctions, periods where the continuous monitoring system is inoperative
63.10(b)(2), 63.1165(a)
Emission test results and other data needed to determine emissions
61.13(g), 63.1165(a)(7)
All reports and notifications
63.9, 63.10(b), 63.1165(a)(10)
Record of applicability
63.10(b)(3)
Records for sources with continuous monitoring systems
63.10(3)
Records are required to be retained for five years
63.1165(a-c)

Electronic Reporting

--------------------------------------------------------------------------------
      Some of the respondents are using monitoring equipment that automatically records parameter data.  Although personnel at the affected facility must still evaluate the data, internal automation has significantly reduced the burden associated with monitoring and recordkeeping at a plant site.
--------------------------------------------------------------------------------

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      Also, regulatory agencies in cooperation with the respondents continue to create reporting systems to transmit data electronically.  However, electronic reporting systems are still not widely used.  At this time, it is estimated that approximately 10 percent of the respondents use electronic reporting.
--------------------------------------------------------------------------------

                             Respondent Activities
Read instructions.
Install, calibrate, maintain, and operate systems for the measurement of process gas temperature, excess air proportion, make-up water flow, and recirculation flow rate for web scrubbers or other parameters established during the performance test for an alternative control device.
Perform initial performance test, Reference Methods 1, 2, 3, 4, and 26, tests or approved alternative method, and repeat performance tests if necessary.
Write the notifications and reports listed above.
Enter information required to be recorded above.
Submit the required reports developing, acquiring, installing, and utilizing technology and systems for the purpose of collecting, validating, and verifying information.
Develop, acquire, install, and utilize technology and systems for the purpose of processing and maintaining information.
Develop, acquire, install, and utilize technology and systems for the purpose of disclosing and providing information.
Adjust the existing ways to comply with any previously applicable instructions and requirements.
Train personnel to be able to respond to a collection of information.
Transmit, or otherwise disclose the information.

	Currently, sources are using monitoring equipment that provide parameter data in an automated way e.g., continuous parameter monitoring system.  Although personnel at the source still need to evaluate the data, this type of monitoring equipment has significantly reduced the burden associated with monitoring and recordkeeping.

5.  The Information Collected: Agency Activities, Collection Methodology, and Information Management

      5(a)  Agency Activities

      EPA conducts the following activities in connection with the acquisition, analysis, storage, and distribution of the required information.

                               Agency Activities
Observe initial performance tests and repeat performance tests if necessary.
Review notifications and reports, including performance test reports, excess emissions reports, required to be submitted by industry.
Audit facility records.
Input, analyze, and maintain data in the Online Tracking Information System (OTIS).

      5(b)  Collection Methodology and Management

Following notification of startup, the reviewing authority might inspect the source to determine whether the pollution control devices are properly installed and operational.  Performance test reports are used by the Agency to discern a source's initial capability to comply with the emission standard, and note the operating conditions under which compliance was achieved.        Data and records maintained by the respondents are tabulated and published for use in compliance and enforcement programs.

      Information contained in the reports is entered into OTIS which is operated and maintained by the EPA Office of Compliance.  OTIS is the EPA database for the collection, maintenance, and retrieval of compliance data for approximately 125,000 industrial and government-owned facilities.  EPA uses OTIS for tracking air pollution compliance and enforcement by local and state regulatory agencies, EPA regional offices, and EPA headquarters.  EPA-delegated authorities can edit, store, retrieve and analyze the data.

      The records required by this regulation must be retained by the owner or operator for five years.

      5(c)  Small Entity Flexibility

--------------------------------------------------------------------------------
      The majority of the respondents are large entities (i.e., large businesses).  However, the impact on small entities (i.e., small businesses) was taken into consideration during the development of the regulation.  Due to technical considerations involving the process operations and the types of control equipment employed, the recordkeeping and reporting requirements are the same for both small and large entities.  The Agency considers these to be the minimum requirements needed to ensure compliance and, therefore, cannot reduce them further for small entities.  To the extent that larger businesses can use economies of scale to reduce their burden,   the overall burden will be reduced.

      5(d)  Collection Schedule

      The specific frequency for each information collection activity within this request is shown below in Table 1: Annual Respondent Burden and Cost − NESHAP for Steel Pickling, HCl Process Facilities and Hydrochloric Acid Regeneration Plants (40 CFR Part 63, Subpart CCC) (Renewal).

6.  Estimating the Burden and Cost of the Collection

      Table 1 documents the computation of individual burdens for the recordkeeping and reporting requirements applicable to the industry for the subpart included in this ICR.  The individual burdens are expressed under standardized headings believed to be consistent with the concept of burden under the Paperwork Reduction Act.  Wherever appropriate, specific tasks and major assumptions have been identified.  Responses to this information collection are mandatory.

      The Agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid OMB Control Number.

      6(a)  Estimating Respondent Burden

      The average annual burden to industry over the next three years from these recordkeeping and reporting requirements is estimated to be 25,316 (Total Labor Hours from Table 1 below).  These hours are based on Agency studies and background documents from the development of the regulation, Agency knowledge and experience with the NESHAP program, the previously approved ICR, and any comments received.

      6(b)  Estimating Respondent Costs

            (i)  Estimating Labor Costs

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      This ICR uses the following labor rates:
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            Managerial	$121.42 ($57.82 + 110%)
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            Technical	$99.14   ($47.21 + 110%)
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            Clerical	$49.81   ($23.72 + 110%)
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These rates are from the United States Department of Labor, Bureau of Labor Statistics, September 2011, "Table 2: Civilian workers, by occupational and industry group."  The rates are from column 1, "Total Compensation."  The rates have been increased by 110 percent to account for the benefit packages available to those employed by private industry.

            (ii)  Estimating Capital/Startup and Operation and Maintenance Costs

      The type of industry costs associated with the information collection activities in the subject standard are both labor costs which are addressed elsewhere in this ICR and the costs associated with continuous monitoring.  The capital/startup costs are one-time costs when a facility becomes subject to the regulation.  The annual operation and maintenance costs are the ongoing costs to maintain the monitor and other costs, such as photocopying and postage.

            (iii)  Capital/Startup vs. Operation and Maintenance (O&M) Costs

         Capital/Startup vs. Operation and Maintenance (O&M) Costs
                                      (A)
                         Continuous Monitoring Device
                                      (B)
                    Capital/Startup Cost for One Respondent
                                      (C)
                          Number of New Respondents
                                      (D)
                          Total Capital/Startup Cost
                                   (B X C)
                                      (E)
                    Annual O&M Costs for One Respondent
                                      (F)
                      Number of Respondents with O&M
                                      (G)
                                Total O&M,
                                    (E X F)
Flow-meters with high/low alarms
                                     $830
                                       0
                                      $0
                                     $106
                                      72
                                    $7,632

                                      $0

                                    $7,632

      The total capital/startup costs for this ICR are zero.  This is the total of column D in the above table.

--------------------------------------------------------------------------------
      The total operation and maintenance (O&M) costs for this ICR are $7,632.  This is the total of column G.

      The average annual cost for capital/startup and operation and maintenance costs to industry over the next three years of the ICR is estimated to be $7,632.

      6(c)  Estimating Agency Burden and Cost

--------------------------------------------------------------------------------
      The only costs to the Agency are those costs associated with analysis of the reported information.  The EPA compliance and enforcement program includes activities such as: the examination of records maintained by the respondents; periodic inspection of sources of emissions; and the publication and distribution of collected information.
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
      The average annual Agency cost during the three years of the ICR is estimated to be $18,657.
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
      This cost is based on the average hourly labor rate as follows:
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
                 Managerial	$62.27 (GS-13, Step 5, $39.92 + 60%)
--------------------------------------------------------------------------------
                 Technical	$46.21 (GS-12, Step 1, $28.88 + 60%)
--------------------------------------------------------------------------------
                 Clerical	$25.01 (GS-6, Step 3, $15.63 + 60%)
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
      These rates are from the Office of Personnel Management (OPM) "2011 General Schedule" which excludes locality rates of pay.  The rates have been increased by 60 percent to account for the benefit packages available to government employees.  Details upon which this estimate is based appear below in Table 2: Average Annual EPA Burden and Cost - NESHAP for Steel Pickling, HCl Process Facilities and Hydrochloric Acid Regeneration Plants (40 CFR Part 63, Subpart CCC) (Renewal).
--------------------------------------------------------------------------------

      6(d)  Estimating the Respondent Universe and Total Burden and Costs

	Based on our research for this ICR, on average over the next three years, approximately 72 respondents will be subject to the standard.  It is estimated that no additional new source will become subject to the rule.  The overall average number of respondents, as shown in the table below, is 72 per year.

	The number of respondents is calculated using the following table which addresses the three years covered by this ICR.

--------------------------------------------------------------------------------
Number of Respondents
--------------------------------------------------------------------------------
Year
--------------------------------------------------------------------------------
(A)
--------------------------------------------------------------------------------
Number of New Respondents [1]
--------------------------------------------------------------------------------
(B)
--------------------------------------------------------------------------------
Number of Existing Respondents
--------------------------------------------------------------------------------
(C)
--------------------------------------------------------------------------------
Number of Existing Respondents That Keep Records But Do Not Submit Reports
--------------------------------------------------------------------------------
(D)
--------------------------------------------------------------------------------
Number of Existing Respondents That Are Also New Respondents
--------------------------------------------------------------------------------
(E)
--------------------------------------------------------------------------------
Number of Respondents
--------------------------------------------------------------------------------
(E=A+B+C-D)
--------------------------------------------------------------------------------
1
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
72
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
72
--------------------------------------------------------------------------------
2
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
72
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
72
--------------------------------------------------------------------------------
3
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
72
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
72
--------------------------------------------------------------------------------
Average
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
72
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
72
--------------------------------------------------------------------------------
      [1] New respondent include sources with constructed, reconstructed and modified affected facilities.
--------------------------------------------------------------------------------

      To avoid double-counting respondents, column D is subtracted.  As shown above, the average Number of Respondents over the three-year period of this ICR is 72.

      The total number of annual responses per year is calculated using the following table:

--------------------------------------------------------------------------------
Total Annual Responses
--------------------------------------------------------------------------------
(A)
--------------------------------------------------------------------------------
Information Collection Activity
--------------------------------------------------------------------------------
(B)
--------------------------------------------------------------------------------
Number of Respondents
--------------------------------------------------------------------------------
(C)
--------------------------------------------------------------------------------
Number of Responses
--------------------------------------------------------------------------------
(D)
--------------------------------------------------------------------------------
Number of Existing Respondents That Keep Records But Do Not Submit Reports
--------------------------------------------------------------------------------
(E)
--------------------------------------------------------------------------------
Total Annual Responses
--------------------------------------------------------------------------------
E=(BxC)+D
--------------------------------------------------------------------------------
Notification of applicability
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
1
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
Notification of construction/reconstruction
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
1
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
Notification of actual startup
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
1
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
Notification of  special compliance requirements
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
1
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
Notification of initial performance test
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
1
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
Notification of compliance status
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
1
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
Report of monitoring exceedances
--------------------------------------------------------------------------------
14.4
--------------------------------------------------------------------------------
2
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
28.8
--------------------------------------------------------------------------------
Report of no excess emissions
--------------------------------------------------------------------------------
57.6
--------------------------------------------------------------------------------
2
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
115.2
--------------------------------------------------------------------------------
Startup, shutdown, malfunction report
--------------------------------------------------------------------------------
3.6
--------------------------------------------------------------------------------
2
--------------------------------------------------------------------------------
0
--------------------------------------------------------------------------------
7.2
--------------------------------------------------------------------------------

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

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

--------------------------------------------------------------------------------
Total
--------------------------------------------------------------------------------
151.2

      The number of Total Annual Responses is 151 (rounded).

      The total annual labor costs are $2,425,767.  Details regarding these estimates may be found below in Table 1: Annual Respondent Burden and Cost - NESHAP for Steel Pickling, HCl Process Facilities and Hydrochloric Acid Regeneration Plants (40 CFR Part 63, Subpart CCC) (Renewal).

      6(e)  Bottom Line Burden Hours Burden Hours and Cost Tables

--------------------------------------------------------------------------------
      The detailed bottom line burden hours and cost calculations for the respondents and the Agency are shown in Tables 1 and 2, respectively, and summarized below.
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
            (i)  Respondent Tally

      The total annual labor hours are 25,316.  Details regarding these estimates may be found below in Table 1: Annual Respondent Burden and Cost - NESHAP for Steel Pickling, HCl Process Facilities and Hydrochloric Acid Regeneration Plants (40 CFR Part 63, Subpart CCC) (Renewal).

      Furthermore, the annual public reporting and recordkeeping burden for this collection of information is estimated to average 168 hours per response.
--------------------------------------------------------------------------------

      The total annual capital/startup and O&M costs to the regulated entity are $7,632. The cost calculations are detailed in Section 6(b)(iii), Capital/Startup vs. Operation and Maintenance (O&M) Costs.

--------------------------------------------------------------------------------
            (ii)  The Agency Tally
--------------------------------------------------------------------------------

      The average annual Agency burden and cost over next three years is estimated to be 414 labor hours at a cost of $18,657.  See below Table 2: Average Annual EPA Burden and Cost - NESHAP for Steel Pickling, HCl Process Facilities and Hydrochloric Acid Regeneration Plants (40 CFR Part 63, Subpart CCC) (Renewal).

      6(f)  Reasons for Change in Burden

--------------------------------------------------------------------------------
      There is no change in the labor hours in this ICR compared to the previous ICR.  This is due to two considerations.  First, the regulations have not changed over the past three years and are not anticipated to change over the next three years.  Secondly, the growth rate for the industry is very low, negative or non-existent, so there is no significant change in the overall burden.  However, there is an increase in the total labor and Agency costs as currently identified in the OMB Inventory of Approved Burdens.  This increase is not due to any program changes.  The change     in cost estimates reflects updated labors rates available from the Bureau of Labor Statistics.

      6(g)  Burden Statement

      The annual public reporting and recordkeeping burden for this collection of information is estimated to average 168 hours per response.  Burden means the total time, effort, or financial resources expended by persons to generate, maintain, retain, disclose or provide information to or for a Federal agency.  This includes the time needed to review instructions; develop, acquire, install, and utilize technology and systems for the purposes of collecting, validating, and verifying information, processing and maintaining information, and disclosing and providing information; adjust the existing ways to comply with any previously applicable instructions and requirements; train personnel to be able to respond to a collection of information; search data sources; complete and review the collection of information; and transmit or otherwise disclose the information.

--------------------------------------------------------------------------------
      An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a valid OMB Control Number.  The OMB Control Numbers for EPA's regulations are listed at 40 CFR part 9 and 48 CFR chapter 15.

      To comment on the Agency's need for this information, the accuracy of the provided burden estimates, and any suggested methods for minimizing respondent burden, including the use of automated collection techniques, EPA has established a public docket for this ICR under Docket ID Number EPA-HQ-OECA-2011-0248.  An electronic version of the public docket is available at http://www.regulations.gov/ which may be used to obtain a copy of the draft collection of information, submit or view public comments, access the index listing of the content of the docket, and to access those documents in the public docket that are available electronically.  When in the system, select "search" than key in the docket ID number identified in this document.  The documents are also available for public viewing at the Enforcement and Compliance Docket and Information Center in the EPA Docket Center (EPA/DC), EPA West, Room 3334, 1301 Constitution Avenue, N.W., Washington, DC.  The EPA Docket Center Public Reading Room is open from 8:30 a.m. to 4:30 p.m., Monday through Friday, excluding legal holidays.  The telephone number for the Reading Room is<PHONE_NUMBER>, and the telephone number for the Enforcement and Compliance Docket and Information Center Docket is<PHONE_NUMBER>.  Also, you can send comments to the Office of Information and Regulatory Affairs, Office of Management and Budget, 725 17th Street, N.W., Washington, DC 20503, Attention: Desk Officer for EPA.  Please include the EPA Docket ID Number EPA-HQ-OECA-2011-0248 and OMB Control Number 2060-0419 in any correspondence.

Part B of the Supporting Statement

This part is not applicable because no statistical methods were used in collecting this information.

Table 1:  Annual Respondent Burden and Cost  -  NESHAP for Steel Pickling, HCl Process Facilities and Hydrochloric Acid Regeneration Plants (40 CFR Part 63, Subpart CCC) (Renewal)

                                  Burden item
                                      (A)
                          Person hours per occurrence
                                      (B)
                  No. of occurrences per respondent per year
                                      (C)
                     Person hours per respondent per year
                                    (C=AxB)
                                      (D)
                           Respondents per year  [a]
                                      (E)
                       Technical person- hours per year
                                    (E=CxD)
                                      (F)
                       Management person hours per year
                                   (Ex0.05)
                                      (G)
                        Clerical person hours per year
(Ex0.1)
                                      (H)
                                  Total Cost
                                  Per year b

1.  Applications
                                      N/A

2.  Survey and Studies
                                      N/A

3.  Reporting requirements

     A.  Read instructions
                                       4
                                       1
                                       4
                                       0
                                       0
                                       0
                                       0
                                                                             $0
     B.  Required activities

        Initial performance test
                                      125
                                       1
                                      125
                                       0
                                       0
                                       0
                                       0
                                                                             $0
        Repeat performance test [c]
                                      125
                                       1
                                      125
                                       0
                                       0
                                       0
                                       0
                                                                             $0
        Annual performance test [d, e]
                                      125
                                       1
                                      125
                                      72
                                     9,000
                                      450
                                      900
                                                                    $991,728.00
        Startup, shutdown, malfunction plan
                                      40
                                       1
                                      40
                                       0
                                       0
                                       0
                                       0
                                                                             $0
        Maintenance plan
                                      40
                                       1
                                      40
                                       0
                                       0
                                       0
                                       0
                                                                             $0
        Maintenance plan revision [f]
                                      40
                                       1
                                      40
                                      7.2
                                      288
                                     14.4
                                     28.8
                                                                     $31,735.30
     C.  Create information
                                    See 3B

     D.  Gather existing information
                                    See 3B

     E.  Write Report

        Notification of applicability [g]
                                       2
                                       1
                                       2
                                       0
                                       0
                                       0
                                       0
                                                                             $0
        Notification of construction/reconstruction
                                       2
                                       1
                                       2
                                       0
                                       0
                                       0
                                       0
                                                                             $0
        Notification of anticipated startup
                                       2
                                       1
                                       2
                                       0
                                       0
                                       0
                                       0
                                                                             $0
        Notification of actual startup
                                       2
                                       1
                                       2
                                       0
                                       0
                                       0
                                       0
                                                                             $0
        Notification of special compliance
        requirements
                                      N/A

        Notification of performance test
                                       2
                                       1
                                       2
                                       0
                                       0
                                       0
                                       0
                                                                             $0
        Notification of compliance status
                                       4
                                       1
                                       4
                                       0
                                       0
                                       0
                                       0
                                                                             $0
        NESHAP waiver application [h]
                                      N/A

        Report of performance test
                                    See 3B

        Report of monitoring exceedances [i]
                                      16
                                       2
                                      32
                                     14.4
                                     460.8
                                     23.04
                                     46.08
                                                                     $50,776.47
        Report of no excess emissions [j]
                                       8
                                       2
                                      16
                                     57.6
                                     921.6
                                     46.08
                                     92.16
                                                                    $101,552.94
        Startup, shutdown, malfunction report [k]
                                       8
                                       2
                                      16
                                      3.6
                                     57.6
                                     2.88
                                     5.76
                                                                      $6,347.05
Subtotal  for Reporting

                                   12,337.2

                                                                  $1,182,139.76
4.  Recordkeeping requirements

     A.  Read instructions
                                    See 3B

     B.  Plan activities
                                      N/A

     C.  Implement Activities
                                      N/A

     D.  Develop record system
                                      N/A

     E.  Time to enter information

         Records of all information required by
         standards l
                                       3
                                      52
                                      156
                                      72
                                   11,232.00
                                    561.60
                                   1,123.20
                                                                  $1,237,676.54
    F.  Time to train personnel
                                       4
                                       1
                                       4
                                       0
                                       0
                                       0
                                       0
                                                                             $0
   G.  Time to adjust existing ways to comply with
          previously applicable requirements
                                      N/A

    H.  Time to transmit or disclose information [m]
                                     0.25
                                       3
                                     0.75
                                      72
                                     54.00
                                     2.70
                                     5.40
                                                                      $5,950.36
     I.  Time for audits
                                      N/A

Subtotal  for Recordkeeping

                                   12,978.9

                                    22,014
                                    1,100.7
                                    2,201.4
                                                                  $2,425,766.66
TOTAL LABOR BURDEN AND COST (rounded)

                                    25,316

                                                                     $2,425,767

Assumptions:
[a]  We have assumed that there are approximately 72 respondents, i.e., 64 of 82 existing steel pickling facilities and 8 acid regeneration plants  using hydrochloric acid, are subject to the standard.   We have further assumed that no additional respondent per year will become subject to the regulation in the next three years.  We have further assumed that all existing sources are in compliance with the regulation since the compliance date of this rule as passed.
[b]  This ICR uses the following labor rates:  $121.42 per hour for Executive, Administrative, and Managerial labor; $99.14 per hour for Technical labor, and $49.81
per hour for Clerical labor.  These rates are from the United States Department of Labor, Bureau of Labor Statistics, September 2011 "Table 12: Civilian workers, by occupational and industry group."  The rates are from column 1, "Total compensation."  The rates have been increased by 110 percent to account for the benefit packages available to those employed by private industry.
[c]  We have assumed that each new respondent will be required to conduct an initial performance test and will not have to repeat this test.
[d]  We have assumed that it will take 125 hours for each respondent to complete the annual performance test and report.
[e]  Each of the respondents are required to conduct an annual performance test to either measure the HCl mass flows at the control device inlet and outlet or the concentration of HCl exiting the control device and report the results in the semiannual reports.
[f]   We have assumed that 10 percent of respondents must write a revised maintenance plan.
[g]  We have assumed that all new sources will be required to meet initial notification requirements.
h  We have assumed that no respondent will request a NESHAP waiver application.
[i]  We have assumed that 20 percent of respondents will report excess emissions on a semiannual basis.
j  We have assumed that 80 percent of respondents will report no excess emissions on a semiannual basis.
[k]  We have assumed that 5 percent of respondents will have a startup, shutdown, or malfunction event occur that is not managed according to the plans.
[l]  We have assumed that each respondent will take three hours each week to record all information required by the standard.
[m]  We have assumed that each respondent will take 15 minutes three times per year to transmit or disclose information.

Table 2:  Average Annual EPA Burden and Cost − NESHAP for Steel Pickling, HCl Process Facilities and Hydrochloric Acid Regeneration Plants (40 CFR Part 63, Subpart CCC) (Renewal)

                                   Activity
                                      (A)
                       EPA person- hours per occurrence
                                      (B)
                     No. of occurrences per plant per year
                                      (C)
                     EPA person- hours per plant per year
                                    (C=AxB)
                                      (D)
                             Plants per year  [a]
                                      (E)
                       Technical person- hours per year
                                    (E=CxD)
                                      (F)
                       Management person-hours per year
                                   (Ex0.05)

                                      (G)
                        Clerical person-hours per year
                                    (Ex0.1)
                                      (H)
                                  Cost, $ [b]
Report Review

    New Sources

       Notification of applicability
                                       2
                                       1
                                       2
                                       0
                                       0
                                       0
                                       0
                                                                             $0
       Notification of construction/reconstruction
                                       2
                                       1
                                       2
                                       0
                                       0
                                       0
                                       0
                                                                             $0
       Notification of actual startup
                                       2
                                       1
                                       2
                                       0
                                       0
                                       0
                                       0
                                                                             $0
       Notification of special compliance
       requirements
                                      N/A

       Notification of performance test
                                       2
                                       1
                                       2
                                       0
                                       0
                                       0
                                       0
                                                                             $0
       Notification of compliance status
                                       2
                                       1
                                       2
                                       0
                                       0
                                       0
                                       0
                                                                             $0
       Review of performance test report
                                       4
                                       1
                                       4
                                       0
                                       0
                                       0
                                       0
                                                                             $0
       Review of repeat test report
                                       4
                                       1
                                       4
                                       0
                                       0
                                       0
                                       0
                                                                             $0
   Existing Sources

       Review of excess emissions report [c]
                                       4
                                       2
                                       8
                                     14.4
                                    115.20
                                     5.76
                                     11.52
                                                                      $5,970.17
       Review of no excess emissions report [d]
                                       2
                                       2
                                       4
                                     57.6
                                    230.40
                                     11.52
                                     23.04
                                                                     $11,940.36
       Review of startup, shutdown, malfunction
       Report e
                                       2
                                       2
                                       4
                                      3.6
                                     14.40
                                     0.72
                                     1.44
                                                                        $746.26
       Review of waiver application [f]
                                       2
                                       1
                                       2
                                       0
                                       0
                                       0
                                       0
                                                                             $0
Subtotals Labor Burden and cost

                                      360
                                      18
                                      36
                                                                     $18,656.79
TOTAL ANNUAL BURDEN AND COST (rounded)

                                      414

                                                                        $18,657

--------------------------------------------------------------------------------
 	Assumptions:
    [a]  We have assumed that there are approximately seventy-two respondents, i.e., 64 of 82 existing steel pickling facilities and 8 acid regeneration plants  using
    hydrochloric acid, are subject to the standard.  We have further assumed that no additional respondent per year will become subject to the regulation in the next three
years.  We have further assumed that all existing sources are in compliance with the regulation since the compliance date of this rule as passed.
[b]  This cost is based on the following hourly labor rates times a 1.6 benefits multiplication factor to account for government overhead expenses: $62.27 for Managerial (GS-13, Step 5, $39.92x 1.6), $46.21 for Technical (GS-12, Step 1, $28.88 x 1.6) and $25.01 Clerical (GS-6, Step 3, $15.63 x 1.6).  These rates are from the Office of Personnel Management (OPM) "2011 General Schedule", which excludes locality rates of pay.
c  We have assumed that 20 percent of respondents will report excess emissions on a semiannual basis
     [d]  We have assumed that 80 percent of respondents will report no excess emissions on a semiannual basis.
[e]  We have assumed that 5 percent of respondents will have a startup, shutdown, or malfunction event occur that is not managed according to the plans
[f]  We have assumed that no waiver application is expected.


[Federal Register Volume 87, Number 178 (Thursday, September 15, 2022)]
[Notices]
[Page 56642]
[FR Doc No: 2022-19968]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. ER22-2816-000]

PGR 2021 Lessee 17, LLC; Supplemental Notice That Initial Market-
Based Rate Filing Includes Request for Blanket Section 204
Authorization

    This is a supplemental notice in the above-referenced proceeding of
PGR 2021 Lessee 17, LLC's application for market-based rate authority,
with an accompanying rate tariff, noting that such application includes
a request for blanket authorization, under 18 CFR part 34, of future
issuances of securities and assumptions of liability.
    Any person desiring to intervene or to protest should file with the
Federal Energy Regulatory Commission, 888 First Street NE, Washington,
DC 20426, in accordance with Rules 211 and 214 of the Commission's
Rules of Practice and Procedure (18 CFR 385.211 and 385.214). Anyone
filing a motion to intervene or protest must serve a copy of that
document on the Applicant.
    Notice is hereby given that the deadline for filing protests with
regard to the applicant's request for blanket authorization, under 18
CFR part 34, of future issuances of securities and assumptions of
liability, is September 29, 2022.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper, using the FERC Online links at http://www.ferc.gov. To facilitate electronic service, persons with internet
access who will eFile a document and/or be listed as a contact for an
intervenor must create and validate an eRegistration account using the
eRegistration link. Select the eFiling link to log on and submit the
intervention or protests.
    Persons unable to file electronically may mail similar pleadings to
the Federal Energy Regulatory Commission, 888 First Street NE,
Washington, DC 20426. Hand delivered submissions in docketed
proceedings should be delivered to Health and Human Services, 12225
Wilkins Avenue, Rockville, Maryland 20852.
    In addition to publishing the full text of this document in the
Federal Register, the Commission provides all interested persons an
opportunity to view and/or print the contents of this document via the
internet through the Commission's Home Page (http://www.ferc.gov) using
the ``eLibrary'' link. Enter the docket number excluding the last three
digits in the docket number field to access the document. At this time,
the Commission has suspended access to the Commission's Public
Reference Room, due to the proclamation declaring a National Emergency
concerning the Novel Coronavirus Disease (COVID-19), issued by the
President on March 13, 2020. For assistance, contact the Federal Energy
Regulatory Commission at [email protected] or call toll-free,
(886) 208-3676 or TYY,<PHONE_NUMBER>.

    Dated: September 9, 2022.
Debbie-Anne A. Reese,
Deputy Secretary.
[FR Doc. 2022-19968 Filed 9-14-22; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 77, Number 179 (Friday, September 14, 2012)]
[Notices]
[Pages 56886-56890]
[FR Doc No: 2012-22641]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-67816; File No. SR-NSX-2012-14]

Self-Regulatory Organizations; National Stock Exchange, Inc.;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Clarify the Purpose of, and Statutory Basis for, the September 4, 2012
Changes to the NSX Fee and Rebate Schedule

September 10, 2012.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on September 4, 2012, National Stock Exchange, Inc. 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 Exchange. The Commission is publishing this notice to
solicit comment on the proposed rule change from interested persons.
---------------------------------------------------------------------------

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

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

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

    National Stock Exchange, Inc. (``NSX[supreg]'' or ``Exchange'') is
proposing to amend its Fee and Rebate Schedule (the ``Fee Schedule'')
issued pursuant to Exchange Rule 16.1(a) to introduce different Fee
Schedules including liquidity adding rebates and liquidity removal
fees. The Exchange proposes to adopt a Fee Schedule which allows Equity
Trading Permit (``ETP'') Holders to choose one of two pricing options
which can be applied to shares executed on the Exchange in Automatic
Execution Mode \3\ for securities quoted at prices equal to or greater
than one dollar. ETP Holders can choose between a Variable Fee
Schedule, which offers a liquidity adding rebate, a fixed liquidity
removal fee along with market data rebates, and a Fixed Fee Schedule
which sets forth a fixed liquidity adding rebate and a fixed liquidity
removal fee.
---------------------------------------------------------------------------

    \3\ See NSX Rule 11.13(b)(1).
---------------------------------------------------------------------------

    The proposed rule filing also offers ETP Holders that execute
orders using the Order Delivery Mode \4\ an alternate fee schedule
(``Alternate Fee Schedule'') for securities quoted at prices equal to
or greater than one dollar. The Alternate Fee Schedule may provide
these ETP Holders with an incentive to execute additional orders on the
Exchange using the Automatic Execution Mode. ETP Holders that are order
delivery participants automatically receive the Alternate Fee Schedule
upon meeting the minimum ADV threshold of 1,500,000 in Order Delivery
Mode and 10,000,000 shares in Automatic Execution Mode. Under the
Alternate Fee Schedule, ETP Holders will receive up to an additional
$0.0003 liquidity adding rebate over the tiered rebates contained in
the Primary Fee Schedule when the tier requirements are met. The
Exchange is also proposing to reduce the liquidity adding rebates and
increase the number of ADV tiers on the current Primary Fee Schedule
(as defined in further detail below).
---------------------------------------------------------------------------

    \4\ See NSX Rule 11.13(b)(2).
---------------------------------------------------------------------------

    The text of the proposed rule change is available on the Exchange's
Web site at http://www.nsx.com, at the principal office of the
Exchange, 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

Purpose

    The Exchange is proposing to modify the Fee Schedule for securities
quoted in prices equal to or greater than one dollar. The Exchange will
not change the Fee Schedule for securities priced less than one dollar.
First, the Exchange is proposing to introduce a Fixed Fee Schedule
which will be the default Fee Schedule for shares executed in Automatic
Execution Mode. Second, the Exchange proposes to require ETP Holders to
pay a $0.0030 liquidity removal fee under both the Fixed Fee Schedule
and the Variable Fee Schedule unless the ETP Holder provides and
executes 50,000 shares of liquidity per month on the Exchange in
Automatic Execution Mode. ETP Holders that exceed the 50,000 liquidity
providing threshold will be charged the liquidity removal rate from the
appropriate ADV tier on the default Fixed Fee Schedule or the elected
Variable Fee Schedule. Third, the Exchange proposes to reduce the per
share liquidity adding rebate and increase the number of ADV tiers for
securities quoted at prices equal to or more than one dollar for ETP
Holders that use the Order Delivery Mode. Fourth, an Alternate Fee
Schedule will be proposed by the Exchange for ETP Holders executing
orders using the Order Delivery Mode. Under the Alternate Fee Schedule,
shares executed under the Automatic Execution Mode by an ETP Holder
that is an order delivery participant will be attributed to the per
share average daily volume (``ADV'') calculation \5\ used by the
Exchange to determine the tiered rebate applicable to Order Delivery
Mode. Fifth, the Exchange is proposing to amend the definition of the
ADV used to determine whether the Alternate or Primary Fee Schedule
applies to an ETP Holder using Order Delivery Mode. Finally, the
Exchange is proposing to clarify the Fee Schedule's endnotes, and
present the fee structure in a table format.
---------------------------------------------------------------------------

    \5\ See Endnote 4. The Exchange proposes to define the ADV as
the average number of shares the ETP Holder has executed on the
Exchange in all NMS stocks quoted at prices equal to or greater than
a dollar when the Exchange is open for trading (excluding partial
trading days) in Auto-Ex Mode or in Order Delivery Mode during the
calendar month (or partial month, as applicable \3\) [sic]. Shares
executed by an ETP Holder in Auto-Ex Mode will only be used by the
Exchange to calculate the minimum ADV contained in Section I of the
Fee Schedule. Likewise, shares executed by an ETP Holder in Order
Delivery Mode as an order delivery participant will only be used by
the Exchange to calculate the minimum ADV contained in Section II of
the Fee Schedule.
---------------------------------------------------------------------------

1. Introduction of Fixed Fee Schedule for Automatic Execution Mode
    The Exchange's current tiered pricing schedule for ETP Holders
executing transactions using the Automatic Execution Mode includes a
liquidity adding rebate, a liquidity removal fee and a market data
revenue rebate which causes variable pricing (``Variable Fee
Schedule''). The Exchange will not change the rates currently contained
in the Variable Fee Schedule. The Exchange changed the presentation of
the Variable Fee Schedule by representing the liquidity adding rebates,
liquidity removal fees and market data revenue rebates in a table
format.
    The proposed rule change introduces a Fixed Fee Schedule applicable
to transactions executed by ETP Holders using the Automatic Execution
Mode. The Fixed Fee Schedule will be the Exchange's default pricing for
shares executed in Automatic Execution Mode. However, an ETP Holder may
elect to apply the Variable Fee Schedule instead of the Fixed Fee
Schedule by indicating its preference in an email to the Exchange prior
to the first of the month.\6\ ETP Holders may elect the Variable Fee
Schedule following the effectiveness of this rule filing by emailing
the Exchange by September 10, 2012.\7\
---------------------------------------------------------------------------

    \6\ See Endnote 3.
    \7\ See Endnote 3. ETP Holders may elect to adopt the ``Variable
Fee Schedule'' by sending an email indicating this preference to
<EMAIL_ADDRESS>---------------------------------------------------------------------------

    The Fixed Fee Schedule provides fixed tier pricing and no market
data revenue rebate. ETP Holders will receive a fixed rebate when
executing displayed orders that add liquidity, and be charged a fixed
fee when executing orders that remove liquidity from the Exchange.
Under the Fixed Fee Schedule, a per share liquidity adding rebate will
be paid for displayed orders in securities quoted with a price equal to
or greater than a dollar at a rate of $0.0024, $0.0030, $0.0031,
$0.0032, or $0.0033 per share depending on an ETP Holder's ADV. An ETP
Holder will receive a $0.0024 per share rebate when the ETP Holder's
ADV is less than 500,000 shares; a $0.0030 per share rebate when the
ETP Holder's ADV is at least 500,000 shares but less than 1,500,000
shares; a $0.0031 per share rebate when the ETP Holder's ADV is at
least 1,500,000 shares but less than 5,000,000 shares; a $0.0032 per
share rebate when the ETP Holder's ADV is at least 5,000,000 shares but
less than 10,000,000 shares; and a $0.0033 per share rebate when the
ETP Holder's ADV is at least 10,000,000 shares.
    In addition, the Fixed Fee Schedule will charge ETP Holders a
tiered liquidity removal fee at a rate of $0.0030, $0.0029, $0.0028, or
$0.0027 per share depending on an ETP Holder's

ADV. A $0.0030 per share fee applies when the ETP Holder's ADV is less
than 500,000 shares; a $0.0029 per share fee applies when the ETP
Holder's ADV is at least 500,000 shares but less than 5,000,000 shares;
a $0.0028 per share fee applies when the ETP Holder's ADV is at least
5,000,000 shares but less than 10,000,000 shares; and a $0.0027 per
share fee applies when the ETP Holder's ADV is at least 10,000,000
shares.
2. Tiered Pricing Contingency
    The proposed rule change will also make the availability of the
lower tiered pricing for liquidity removal contained in the Fixed Fee
Schedule and the Variable Fee Schedule contingent upon an ETP Holder's
use of the Automatic Execution Mode to execute 50,000 shares per month
of displayed orders which add liquidity to the Exchange.
3. Reduction of Per Share Liquidity Rebate for Order Delivery Mode
    As currently reflected in Section II of the Fee Schedule, ETP
Holders that execute orders using the Order Delivery Mode receive a
liquidity adding rebate for displayed orders of securities quoted at
prices equal to or better than one dollar, and a market data revenue
rebate attributable to these orders is available at certain ADV levels.
The Exchange currently offers a per share rebate of $0.0008, $0.0024 or
$0.0027 per share depending on an ETP Holder's ADV (``Primary Fee
Schedule''). A current $0.0008 per share rebate (with no market data
revenue sharing) applies when the ETP Holder's ADV is less than
15,000,000 shares; a current $0.0024 per share rebate (with no market
data revenue sharing) applies when the ETP Holder's ADV is at least
15,000,000 shares but less than 25,000,000 shares; a current $0.0027
per share rebate (plus 25% market data revenue sharing) applies when
the ETP Holder's ADV is at least 25,000,000 shares but less than
30,000,000 shares; and a current $0.0027 per share rebate (plus 50%
market data revenue sharing) applies when the ETP Holder's ADV is at
least 30,000,000 shares.
    The Exchange is proposing to reduce the liquidity adding rebates
and increase the number of tier sizes offered under the Primary Fee
Schedule. The proposed changes include an $0.0008 per share rebate
(with no market data revenue sharing) when the ETP Holder's ADV is less
than 10,000,000 shares; a $0.0011 per share rebate (with no market data
revenue sharing) when the ETP Holder's ADV is at least 10,000,000
shares but less than 12,000,000 shares; a $0.0015 per share rebate
(with no market data revenue sharing) when the ETP Holder's ADV is at
least 12,000,000 shares but less than 15,000,000 shares; a $0.0021 per
share rebate (with no market data revenue sharing) when the ETP
Holder's ADV is at least 15,000,000 shares but less than 20,000,000; a
$0.0021 per share rebate (plus 25% market data revenue sharing) when
the ETP Holder's ADV is at least 20,000,000 shares but less than
25,000,000; and a $0.0024 per share rebate (plus 25% market data
revenue sharing) when the ETP Holder's ADV is equal to or greater than
25,000,000 shares.
    An ETP Holder may be eligible for an additional $0.0001 rebate on
the Primary Fee Schedule if the ETP Holder executes an ADV of 3,000,000
to 4,999,999 shares using the Automatic Execution Mode in addition to a
minimum ADV of 1,500,000 shares in Order Delivery Mode. An ETP Holder
may also be eligible for an addition $0.0002 rebate on the Primary Fee
Schedule by executing an ADV of 5,000,000 to 9,999,999 shares using the
Automatic Execution Mode in addition to a minimum of 1,500,000 shares
in Order Delivery Mode.
4. Alternate Fee Schedule
    The Exchange is also proposing to adopt an ``Alternate Fee
Schedule'' which will automatically apply when an ETP Holder that uses
the Order Delivery Mode as an order delivery participant meets the
minimum ADV threshold by executing 1,500,000 shares using the Order
Delivery Mode and 10,000,000 using the Automatic Execution Mode.\8\ The
Alternate Fee Schedule will be in lieu of the Primary Fee Schedule. ETP
Holders that are not order delivery participants will not be subject to
this fee schedule.
---------------------------------------------------------------------------

    \8\ See Endnote 9.
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    As stated above, an ETP Holder that is an Order Delivery
participant will automatically receive the Alternate Fee Schedule by
meeting a minimum ADV of 1,500,000 shares in Order Delivery Mode and
10,000,000 shares in Automatic Execution Mode. The Alternate Fee
Schedule increases an ETP Holder's liquidity adding rebates from the
tiered liquidity adding rates in the Primary Fee Schedule by $0.0003
per tier. Thus, a $0.0011 per share liquidity adding rebate (with no
market data revenue sharing) applies when the ETP Holder's ADV is less
than 10,000,000 shares; a $0.0014 per share liquidity adding rebate
(with no market data revenue sharing) applies when the ETP Holder's ADV
is at least 10,000,000 shares but less than 12,000,000 shares; a
$0.0018 per share liquidity adding rebate (with no market data revenue
sharing) applies when the ETP Holder's ADV is at least 12,000,000
shares but less than 15,000,000 shares; a $0.0024 per share liquidity
adding rebate (with no market data revenue sharing) applies when the
ETP Holder's ADV is at least 15,000,000 shares but less than
20,000,000; a $0.0024 per share liquidity adding rebate (plus 25%
market data revenue sharing, as further described below) applies when
the ETP Holder's ADV is at least 20,000,000 shares but less than
25,000,000; and a $0.0027 per share liquidity adding rebate (plus 25%
market data revenue sharing) applies when the ETP Holder's ADV is
greater than 25,000,000 shares. The Alternate Fee Schedule attributes
the number of shares executed by the ETP Holder using the Automatic
Execution Mode in the per share ADV calculation used by the Exchange to
determine the applicable tiered rebates available in Order Delivery
Mode.
5. Amended ADV Definition for Order Delivery Mode
    The Exchange proposes a clarification in endnote 8 providing that
marketable orders entered by an ETP Holder that is an order delivery
participant with a handling instruction other than Post Only through
the order delivery session is [sic] subject to the Automatic Execution
Mode Fee Schedule. Furthermore, these orders will be counted towards
the minimum ADV for Automatic Execution Mode for determining whether
the Alternate Fee Schedule will automatically apply.
6. Amended Endnotes and Table Presentation
    The Exchange also proposes to make certain amendments to the Fee
Schedule in order to clarify language used in the endnotes. The
Exchange proposes to clarify the definition of (i) Displayed Orders
contained in endnote 2, (ii) ADV contained in endnote 4, and (iii)
Market Data Revenue (``MDR'') Rebates contained in endnote 5. These
proposed amendments do not represent a substantive change to the
current definitions. Also, the Exchange moved endnotes 7 through 10 in
the proposed Fee Schedule. Subject to the changes discussed in this
filing, there are no additional substantive changes made to endnotes 7
through 10. Finally, the Exchange is proposing to change the
presentation of its multiple fee schedules by using tables to set forth
the different rebates and fees.
6. [sic] Rationale
    The Exchange believes these changes are necessary to create
incentives for ETP Holders to submit increased

volumes of orders to the Exchange and, ultimately, to increase the
revenues of the Exchange for the purpose of continuing to adequately
fund its regulatory and general business functions. The Exchange
believes that these changes will not impair its ability to carry out
its regulatory responsibilities. The proposed modifications are
reasonable and equitably allocated to those ETP Holders that opt to
submit orders in the Automatic Execution Mode (as liquidity provider or
taker) and the Order Delivery Mode, and are not unfairly discriminatory
because ETP Holders are free to elect whether or not to send such
orders to the Exchange. In addition, the proposed modifications, by
providing a market data rebate for displayed orders only (and not Zero
Display Reserve Orders), may provide incentives for ETP Holders to
submit displayed orders over Zero Display Reserve Orders. Based upon
the information above, the Exchange believes that the proposed rule
change is consistent with the protection of investors and the public
interest.

Operative Date and Notice

    The Exchange currently intends to make the proposed modifications,
which are effective on filing of this proposed rule, operative as of
commencement of trading on September 4, 2012. Pursuant to Exchange Rule
16.1(c), the Exchange will ``provide ETP Holders with notice of all
relevant dues, fees, assessments and charges of the Exchange'' through
the issuance of a Regulatory Circular of the changes to the Fee
Schedule and will post a copy of the rule filing on the Exchange's Web
site (www.nsx.com).

Statutory Basis

    The Exchange believes that the proposed rule changes are consistent
with the provisions of Section 6(b) of the Securities Exchange Act of
1934 \9\ (the ``Act''), in general, and Section 6(b)(4) of the Act,\10\
in particular in that each change is designed to provide for the
equitable allocation of reasonable dues, fees and other charges among
its members and other persons using the facilities of the Exchange.
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    \9\ 15 U.S.C. 78f(b).
    \10\ 15 U.S.C. 78f(b)(4).
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    The proposed changes that introduce the two different pricing
options are equitably allocated and not unfairly discriminatory because
all qualified ETP Holders are eligible to choose which Fee Schedule
they would like to apply. The adjustments are reasonable methods to
incentivize the submission of orders on the Exchange. These proposed
changes are equitable because they are open to all members on an equal
basis.
    The proposed changes that to [sic] the Automatic Execution Mode
Section of the Fee Schedule are equitably allocated and not unfairly
discriminatory because all qualified ETP Holders are eligible to submit
(or not submit) displayed liquidity providing orders of securities
priced at least one dollar in Automatic Execution Mode on the Exchange.
The volume adjustments are reasonable methods to incentivize the
submission of such orders. All similarly situated members are subject
to the same fee structure, and access to the Exchange is offered on
terms that are not unfairly-discriminatory. Volume-based rebates and
discounts have been widely adopted in the equities markets, and are
equitable because they are open to all members on an equal basis and
provide rebates that are reasonably related to the value of an
exchange's market quality associated with the requirements for the
favorable pricing tier.
    The proposed changes to the rebates payable for executions in
securities priced at least one dollar in Order Delivery Mode are
reasonable because they are in the same range of rebates offered by
other comparable exchanges. The proposed changes are equitably
allocated and not unfairly discriminatory because all qualified ETP
Holders are eligible to submit (or not submit) displayed liquidity
providing orders of securities priced at least one dollar in Order
Delivery Mode on the Exchange. The volume adjustments are reasonable
methods to incentivize the submission of such orders. All similarly
situated members are subject to the same fee structure, and access to
the Exchange is offered on terms that are not unfairly-discriminatory
[sic]. Volume-based rebates and discounts have been widely adopted in
the equities markets, and are equitable because they are open to all
members on an equal basis and provide rebates that are reasonably
related to the value of an exchange's market quality associated with
the requirements for the favorable pricing tier.
    The proposed visual changes to the Fee Schedule is [sic] reasonable
because it allows [sic] Exchange ETP Holders to better understand the
different Fee Schedules.

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

    The Exchange does not believe that the proposed rule change will
impose any inappropriate burden on competition.

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 written comments on
the proposed rule change.

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

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act.\11\ 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. If the Commission takes such action, the
Commission shall institute proceedings to determine whether the
proposed rule should be approved or disapproved.
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    \11\ 15 U.S.C. 78s(b)(3)(A)(ii).
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IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-NSX-2012-14 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-NSX-2012-14. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written

communications relating to the proposed rule change between the
Commission and any person, other than those that may be withheld from
the public in accordance with the provisions of 5 U.S.C. 552, will be
available for Web site viewing and printing in the Commission's Public
Reference Room, 100 F Street NE., Washington, DC 20549, on official
business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of
the filing also will be available for inspection and copying at the
principal office of the Exchange. All comments received will be posted
without change; the Commission does not edit personal identifying
information from submissions. You should submit only information that
you wish to make available publicly. All submissions should refer to
File Number SR-NSX-2012-14 and should be submitted on or before October
5, 2012.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
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    \12\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-22641 Filed 9-13-12; 8:45 am]
BILLING CODE 8011-01-P