[Federal Register Volume 79, Number 12 (Friday, January 17, 2014)]
[Rules and Regulations]
[Pages 3105-3108]
[FR Doc No: 2014-00902]

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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 165

[Docket No. USCG-2012-0880]
RIN 1625-AAOO

Safety Zone; Houma Navigation Canal, Mile Marker 35.5 to 36.5,
and Gulf Intracoastal Waterway, Mile Marker 59.0 to 60.0, West of
Harvey Locks, Bank to Bank; Houma, Terrebonne Parish, LA

AGENCY: Coast Guard, DHS.

ACTION: Interim rule and request for comments.

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SUMMARY: The Coast Guard is establishing a safety zone in the Houma
Navigation Canal, from Mile Marker 35.5 to 36.5, and in the Gulf
Intracoastal Waterway (GIWW), from Mile Marker 59.0 to 60.0, West of
Harvey Locks, bank to bank, during the completion of construction and
repair work on the HWY 661 Swing Bridge, Terrebonne Parish, LA.
Restrictions under this safety zone will be enforced intermittently as
necessary to protect persons and property from hazards associated with
the construction and repair operations on the Highway 661 Swing Bridge.

DATES: This rule is effective without actual notice January 17, 2014
through July 1, 2014. For purposes of enforcement, actual notice will
be used from the date the rule was signed, December 13, 2013 until
January 17, 2014.
    Comments and related material must be received by the Coast Guard
on or before February 18, 2014.

ADDRESSES: Documents mentioned in this preamble are part of Docket
Number USCG-2012-0880. To view documents mentioned in this preamble as
being available in the docket, go to http://www.regulations.gov, type
the docket number in the ``SEARCH'' box and click ``SEARCH.'' Click on
``Open Docket Folder'' on the line associated with this rulemaking. You
may also visit the Docket Management Facility in Room W12-140 on the
ground floor of the Department of Transportation West Building, 1200
New Jersey Avenue SE., Washington, DC 20590, between 9 a.m. and 5 p.m.,
Monday through Friday, except Federal holidays.
    You may submit comments, identified by docket number, using any one
of the following methods:
    (1) Federal eRulemaking Portal: http://www.regulations.gov.
    (2) Fax:<PHONE_NUMBER>.
    (3) Mail or Delivery: Docket Management Facility (M-30), U.S.
Department of Transportation, West Building Ground Floor, Room W12-140,
1200 New Jersey Avenue SE., Washington, DC 20590-0001. Deliveries
accepted between 9 a.m. and 5 p.m., Monday through Friday, except
federal holidays. The telephone number is<PHONE_NUMBER>.
    See the ``Public Participation and Request for Comments'' portion
of the SUPPLEMENTARY INFORMATION section below for further instructions
on submitting comments. To avoid duplication, please use only one of
these three methods.

FOR FURTHER INFORMATION CONTACT: If you have questions on this rule,
call or email MST1 Isaac Chavalia, U.S. Coast Guard; telephone (985)
850-6456, email<EMAIL_ADDRESS>If you have questions on
viewing or submitting material to the docket, call Cheryl Collins,
Program Manager, Docket Operations, telephone<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Table of Acronyms

GIWW Gulf Intracoastal Waterway
COTP Captain of the Port
DHS Department of Homeland Security
FR Federal Register
NPRM Notice of Proposed Rulemaking

A. Public Participation and Request for Comments

    We encourage you to participate in this rulemaking by submitting
comments and related materials. All comments received will be posted
without change to http://www.regulations.gov and will include any
personal information you have provided.

1. Submitting Comments

    If you submit a comment, please include the docket number for this
rulemaking, indicate the specific section of this document to which
each comment applies, and provide a reason for each suggestion or
recommendation. You may submit your comments and material online at
http://www.regulations.gov, or by fax, mail, or hand delivery, but
please use only one of these means. If you submit a comment online, it
will be considered received by the Coast Guard when you successfully
transmit the comment. If you fax, hand deliver, or mail your comment,
it will be considered as having been received by the Coast Guard when
it is received at the Docket Management Facility. We recommend that you
include your name and a mailing address, an email address, or a
telephone number in the body of your document so that we can contact
you if we have questions regarding your submission.
    To submit your comment online, go to http://www.regulations.gov,
type the docket number in the ``SEARCH'' box and click ``SEARCH.''
Click on ``Submit a Comment'' on the line associated with this
rulemaking
    If you submit your comments by mail or hand delivery, submit them
in an unbound format, no larger than 8\1/2\ by 11 inches, suitable for
copying and electronic filing. If you submit comments by mail and would
like to know that they reached the Facility, please enclose a stamped,
self-addressed

postcard or envelope. We will consider all comments and material
received during the comment period and may change the rule based on
your comments.

2. Viewing Comments and Documents

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

3. Privacy Act

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

4. Public Meeting

    We do not now plan to hold a public meeting. But you may submit a
request for one, using one of the methods specified under ADDRESSES.
Please explain why you believe a public meeting would be beneficial. If
we determine that one would aid this rulemaking, we will hold one at a
time and place announced by a later notice in the Federal Register.

B. Regulatory History and Information

    As provided under the ``Public Participation and Request for
Comments'' section above, this interim rule includes a request for
comments and the Coast Guard encourages the public to participate
through the comment process. Comments received will be reviewed to
determine if this interim safety zone requires further review or
revision.
    The Coast Guard is issuing this interim rule without prior notice
pursuant to authority under section 4(a) of the Administrative
Procedure Act (APA) (5 U.S.C. 553(b)). This provision authorizes an
agency to issue a rule without prior notice when the agency for good
cause finds that those procedures are ``impracticable, unnecessary, or
contrary to the public interest.'' Under 5 U.S.C. 553(b)(B), the Coast
Guard finds that good cause exists for not providing notice and making
this rule effective less than 30 days after publication in the Federal
Register. The construction and repairs on the Highway 661 Swing Bridge
have been ongoing since December 2012, for approximately one year,
during which time the Coast Guard established temporary safety zones
effective during certain construction periods. These restrictions were
enacted and rescinded through broadcast notices to mariners and marine
safety information bulletins. Local mariners and waterway users are
aware of the ongoing bridge construction and repairs and transit
through the area with restricted navigational requirements necessary to
ensure safety of navigation continues without issue.
    The Coast Guard received notice of a revised and extended timeline
to complete construction and repair on the Highway 661 Swing Bridge on
November 15, 2013. The Coast Guard reviewed the revised and extended
timeline and remaining construction work to be done and determined that
additional safety measures to ensure safety of navigation remain
necessary. Based on the necessity of the work to be done and extended
construction timeline presented to the Coast Guard, immediate action is
required to establish this interim safety zone. Delaying the effective
date for this interim rule to provide a full 30 days notice through
publication in the Federal Register would be impracticable and contrary
to public interest because it would unnecessarily delay the immediate
action needed to protect persons and property from potential safety
hazards associated with construction and repair operations on the
Highway 661 Swing Bridge.
    For the same reason discussed above, under 5 U.S.C. 553(d)(3) the
Coast Guard finds that good cause exists for making this rule effective
less than 30 days after publication in the Federal Register.

C. Basis and Purpose

    The Coast Guard received notice on November 15, 2013 that the
construction and repair work on the Highway 661 Swing Bridge, Houma
Navigation Canal, Mile Marker 36.0, to refurbish and retrofit the
bridge to better serve the maritime commerce will continue through mid
2014. To protect the general public, vessels and tows from destruction,
loss or injury due to the hazards associated with these construction
operations in and around the waterways, the Coast Guard is establishing
this interim safety zone which will continue through July 1, 2014.
    The legal basis and authorities for this rulemaking establishing a
safety zone are found in 33 U.S.C. 1231, 46 U.S.C. Chapter 701, 3306,
3703; 50 U.S.C. 191, 195; 33 CFR 1.05-1, 6.04-1, 6.04-6, and 160.5;
Public Law 107-295, 116 Stat. 2064; and Department of Homeland Security
Delegation No. 0170.1, which collectively authorize the Coast Guard to
establish and define regulatory safety zones.
    The purpose of this safety zone is to provide additional safety
measures for persons and vessels transiting in and through a specified
area on the waterway and to protect life and property during the
construction and repair operations on the Highway 661 Swing Bridge,
Houma Navigation Canal Mile Marker 36.0. There will be numerous work
and support vessels and personnel present and associated with the
construction and repair operation. This operation poses significant
safety hazards to both vessels and mariners operating in the vicinity
of the Highway 661 Swing Bridge, Houma Navigation Canal Mile Marker
36.0.

D. Discussion of the Interim Rule

    The Coast Guard is establishing an interim safety zone in the Houma
Navigation Canal, from Mile Marker 35.5 to 36.5, and in the GIWW, from
Mile Marker 59.0 to 60.0, West of Harvey Locks, bank to bank. This
safety zone is effective December 13, 2013 and will continue through
July 1, 2014.
    The Captain of the Port (COTP) Morgan City or a designated
representative will inform the public through Broadcast Notice to
Mariners of schedule changes in the construction work and changes in
effective dates and times for the safety zone. At all times, vessels
and tows transiting between Houma Navigation Canal Mile Markers 35.5 to
36.5 and GIWW Mile Markers 59.0 to 60.0, West of Harvey Locks, are
required to proceed at slowest safe speed to minimize wake until
construction is completed or July 1, 2014, whichever occurs earlier.
Additionally, Houma Navigation Canal, from Mile Marker 35.5 to 36.5
will have varying restricted horizontal clearance for marine traffic
from 6:30 a.m. to 11:30 a.m. and 1:00 p.m. to 6:00 p.m., seven days a
week. To minimize waterway impact, this area will be open without
channel restrictions to marine traffic from 6:00 p.m. to 6:30 a.m. and
from 11:30 a.m. to 1:00 p.m. or until traffic clears, seven days a
week. Waterway closures, if necessary to assist in the construction and
repair process, will be made through Broadcast Notice to

Mariners. Deviation from this safety zone may be requested from the
COTP Morgan City or a designated representative. Deviation requests
will be considered on a case-by-case basis.

E. Regulatory Analyses

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

1. Regulatory Planning and Review

    This rule is not a significant regulatory action under section 3(f)
of Executive Order 12866, Regulatory Planning and Review, as
supplemented by Executive Order 13563, Improving Regulation and
Regulatory Review, and does not require an assessment of potential
costs and benefits under section 6(a)(3) of Executive Order 12866 or
under section 1 of Executive Order 13563. The Office of Management and
Budget has not reviewed it under those Orders.
    The safety zone listed in this rule will only restrict vessel
traffic during construction and repair operations and enforcement
periods are short in duration. The effect of this regulation will not
be a significant regulatory action because: (1) This rule will only
affect vessel traffic for short durations of time; (2) vessels may
request permission from the COTP to deviate from this rule; and (3) the
impacts on routine navigation are expected to be minimal due to
scheduled periods without channel restrictions and required channel
openings to clear traffic following a closure, if a closure is
necessary. Notifications to the marine community will be made through
Broadcast Notice to Mariners and Local Notice to Mariners. These
notifications will allow the public to plan operations around the
affected area and enforcement periods.

2. Impact on Small Entities

    The Regulatory Flexibility Act of 1980 (RFA), 5 U.S.C. 601-612, as
amended, requires federal agencies to consider the potential impact of
regulations on small entities during rulemaking. The Coast Guard
certifies under 5 U.S.C. 605(b) that this rule will not have a
significant economic impact on a substantial number of small entities.
    This rule will affect the following entities, some of which may be
small entities: The owners or operators of vessels intending to transit
in the affected portions of the GIWW and Houma Navigation Canal in the
vicinity of the Highway 661 Bridge, Houma Navigation Canal Mile Marker
36.0. This safety zone will not have a significant economic impact on a
substantial number of small entities for the following reasons: The
zone is limited in size, enforcement periods are of short duration and
vessel traffic may request permission from the COTP Morgan City or a
designated representative to deviate from the safety zone.
    If you are a small business entity and are significantly affected
by this regulation, please contact MST1 Isaac Chavalia, Marine Safety
Unit Houma, at<PHONE_NUMBER>.

3. Assistance for Small Entities

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

4. Collection of Information

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

5. Federalism

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

6. Protest Activities

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

7. Unfunded Mandates Reform Act

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

8. Taking of Private Property

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

9. Civil Justice Reform

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

10. Protection of Children From Environmental Health Risks

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

11. Indian Tribal Governments

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

12. Energy Effects

    This action is not a ``significant energy action'' under Executive
Order 13211, Actions Concerning Regulations

That Significantly Affect Energy Supply, Distribution, or Use.

13. Technical Standards

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

14. Environment

    We have analyzed this rule under Department of Homeland Security
Management Directive 023-01 and Commandant Instruction M16475.lD, which
guide the Coast Guard in complying with the National Environmental
Policy Act of 1969 (NEPA) (42 U.S.C. 4321-4370f), and have determined
that this action is one of a category of actions that do not
individually or cumulatively have a significant effect on the human
environment. The safety zone provides safety for the public while the
Highway 661 Swing Bridge is being refurbished. This rule is
categorically excluded from further review under paragraph (34)-(g.) of
Figure 2-1 of the Commandant Instruction. An environmental analysis
checklist supporting this determination and a Categorical Exclusion
Determination will be made available as indicated under ADDRESSES. We
seek any comments or information that may lead to the discovery of a
significant environmental impact from this rule.

List of Subjects in 33 CFR Part 165

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

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

PART 165--REGULATED NAVIGATION AREAS AND LIMITED ACCESS AREAS

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

    Authority: 33 U.S.C. 1231; 46 U.S.C. Chapter 701, 3306, 3703; 50
U.S.C. 191, 195; 33 CFR 1.05-1, 6.04-1, 6.04-6, and 160.5; Pub. L.
107-295, 116 Stat. 2064; Department of Homeland Security Delegation
No. 0170.1.

0
2. A new temporary Sec.  165.T08-0880 is added to read as follows:

Sec.  165.T08-0880  Safety Zone; Houma Navigation Canal, from Mile
Marker 35.5 to 36.5, and Gulf Intracoastal Waterway, from Mile Marker
59.0 to 60.0, West of Harvey Locks, bank to bank; Houma, Terrebonne
Parish, LA.

    (a) Location. The following area is a safety zone: All waters of
the Houma Navigation Canal, from Mile Marker 35.5 to 36.5, and in the
Gulf Intracoastal Waterway, from Mile Marker 59.0 to 60.0, West of
Harvey Locks, bank to bank, Houma, Terrebonne Parish, LA.
    (b) Effective date. This rule is effective January 17, 2014 through
July 1, 2014. For purposes of enforcement, actual notice has been used
from December 13, 2013.
    (c) Periods of enforcement. This rule will be enforced with actual
notice beginning on December 13, 2013 through July 1, 2014. The Captain
of the Port (COTP) Morgan City or a designated representative will
inform the public through Broadcast Notice to Mariners of the
enforcement periods for the safety zone as well as any scheduled times
for changes in the planned schedule.
    (d) Regulations. (1) In accordance with the general regulations in
Sec.  165.23 of this part, entry into this zone is prohibited unless
authorized by the COTP Morgan City or a designated representative.
    (2) Vessels requiring entry into or transit through the safety zone
must request permission from the COTP Morgan City, or a designated
representative. As a designated representative, the DOT 661 swing
bridge operator may be contacted on VHF Channel 13 or 71.
    (3) Mariners should contact the DOT 661 swing bridge operator prior
to arrival at the safety zone for permission to enter or transit
through the safety zone.
    (4) If permission is granted, all persons and vessels shall comply
with the instructions of the COTP Morgan City or a designated
representative and pass at slowest safe speed to minimize wake.
    (5) While the safety zone is in effect, there will be restricted
clearance for marine traffic on the Houma Navigation Canal, from Mile
Marker 35.5 to 36.5 from 6:30 a.m. to 11:30 a.m. and 1:00 p.m. to 6:00
p.m., seven days a week. To minimize waterway impact, this area will be
open without restriction to marine traffic from 6:00 p.m. to 6:30 a.m.
and from 11:30 a.m. to 1:00 p.m. or until traffic clears, seven days a
week.
    (6) All persons and vessels shall comply with the instructions of
the COTP Morgan City and designated on-scene patrol personnel. On-scene
patrol personnel include commissioned, warrant, and petty officers of
the U.S. Coast Guard.
    (e) Informational broadcasts. The COTP Morgan City or a designated
representative will inform the public through Broadcast Notice to
Mariners of the enforcement periods for the safety zone as well as any
changes in the planned schedule.

    Dated: December 13, 2013.
D.G. McClellan,
Captain, U.S. Coast Guard, Captain of the Port Morgan City, Louisiana.
[FR Doc. 2014-00902 Filed 1-16-14; 8:45 am]
BILLING CODE 9110-04-P


[Federal Register Volume 77, Number 124 (Wednesday, June 27, 2012)]
[Notices]
[Pages 38344-38347]
[FR Doc No: 2012-15638]

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SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Release No. 30121; 812-13666]

Medallion Financial Corp.; Notice of Application

June 21, 2012.
AGENCY: Securities and Exchange Commission (the ``Commission'').

ACTION: Notice of an application for an order under section 61(a)(3)(B)
of the Investment Company Act of 1940 (the ``Act'').

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    Summary of Application: Applicant, Medallion Financial Corp.,
requests an order approving a proposal to grant certain stock options
to directors who are not also employees or officers of the Applicant
(the ``Eligible Directors'') under its Amended and Restated 2006 Non-
Employee Director Stock Option Plan (the ``Amended Director Plan'').

DATES: Filing Dates: The application was filed on June 12, 2009, and
amended on June 28, 2010, May 12, 2011, and June 18, 2012.
    Hearing or Notification of Hearing: An order granting the
application will be

issued unless the Commission orders a hearing. Interested persons may
request a hearing by writing to the Commission's Secretary and serving
Applicant with a copy of the request, personally or by mail. Hearing
requests should be received by the Commission by 5:30 p.m. on July 16,
2012, and should be accompanied by proof of service on Applicant, in
the form of an affidavit or, for lawyers, a certificate of service.
Hearing requests should state the nature of the writer's interest, the
reason for the request, and the issues contested. Persons who wish to
be notified of a hearing may request notification by writing to the
Commission's Secretary.

ADDRESSES: Elizabeth M. Murphy, Secretary, U.S. Securities and
Commission, 100 F Street, NE., Washington, DC 20549-1090; Applicant,
437 Madison Avenue, 38th Floor, New York, New York, 10022.

FOR FURTHER INFORMATION CONTACT: Lewis B. Reich, Senior Counsel, at
(202) 551-6919, or Jennifer L. Sawin, Branch Chief, at<PHONE_NUMBER>
(Division of Investment Management, Office of Investment Company
Regulation).

SUPPLEMENTARY INFORMATION: The following is a summary of the
application. The complete application may be obtained via the
Commission's Web site by searching for the file number, or an applicant
using the Company name box, at http://www.sec.gov/search/search.htm or
by calling<PHONE_NUMBER>.

Applicant's Representations

    1. Applicant, a Delaware corporation, is a business development
company (``BDC'') within the meaning of section 2(a)(48) of the Act.\1\
Applicant is a specialty finance company that has a leading position in
originating, acquiring and servicing loans that finance taxicab
medallions and various types of commercial businesses. Applicant
operates its businesses through four wholly-owned subsidiaries,
Medallion Funding LLC, Medallion Capital, Inc., Freshstart Venture
Capital Corp., and Medallion Bank.\2\ Applicant is managed by its
executive officers under the supervision of its board of directors
(``Board''). Applicant's investment decisions are made by its executive
officers under authority delegated by the Board. Applicant does not
have an external investment adviser within the meaning of section
2(a)(20) of the Act.
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    \1\ Section 2(a)(48) defines a BDC to be any closed-end
investment company that operates for the purpose of making
investments in securities described in sections 55(a)(1) through
55(a)(3) of the Act and makes available significant managerial
assistance with respect to the issuers of such securities.
    \2\ The Applicant also conducts business through its asset-based
lending division, Medallion Business Credit, an originator of loans
to small businesses for the purpose of financing inventory and
receivables, which prior to merging into Applicant on December 31,
2007, was a wholly owned investment company subsidiary.
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    2. Applicant requests an order under section 61(a)(3)(B) of the Act
approving its proposal to grant certain stock options under the Amended
Director Plan to its Eligible Directors.\3\ The Amended Director Plan
amends the Applicant's 2006 Non-Employee Director Stock Option Plan
(the ``2006 Director Plan'') by increasing the maximum number of shares
of Applicant's common stock (``Common Stock'') available for issuance
from 100,000 under the 2006 Director Plan to 200,000 under the Amended
Director Plan. Applicant has a nine member Board. Six of the seven
current Eligible Directors on the Board are not ``interested persons''
(as defined in section 2(a)(19) of the Act) of the Applicant. The Board
approved the Amended Director Plan at a meeting held on April 16, 2009,
and Applicant's stockholders approved the Amended Director Plan at the
annual meeting of stockholders held on June 5, 2009. The Amended
Director Plan will become effective on the date on which the Commission
issues an order on the application (the ``Approval Date'').\4\
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    \3\ The Eligible Directors receive a $38,500 per year retainer
payment, $3,850 for each Board meeting attended, $1100 for each
telephonic Board meeting, from $1,650 to $3,850 for each committee
meeting attended, and reimbursement for related expenses. The
Eligible Directors also receive $1,485 for each board meeting
attended for one of the wholly-owned subsidiaries (other than
Medallion Bank).
    \4\ Applicant previously obtained similar relief for its 1996
Amended and Restated Non-Employee Director Stock Option Plan and its
2006 Director Plan. (See Medallion Financial Corp., Investment
Company Act Rel. Nos. 22350 (Nov. 25, 1996) (notice) and 22417 (Dec.
23, 1996) (order), as amended by Medallion Financial Corp.,
Investment Company Act Rel. Nos. 24342 (Mar. 17, 2000) (notice) and
24390 (Apr. 12, 2000) (order) and Medallion Financial Corp.,
Investment Company Act Release Nos. 27917 (July 30, 2007) (notice)
and 27955 (Aug. 28, 2007) (order).) The 1996 Director Plan expired
on May 21, 2006, and was replaced by the 2006 Director Plan.
Applicant also obtained relief for its 2009 Employee Restricted
Stock Plan, permitting it to issue restricted stock (i.e., stock
that, at the time of issuance, is subject to certain forfeiture
restrictions and thus is restricted as to its transferability until
such forfeiture restrictions have lapsed) (the ``Restricted Stock'')
to its employees. (See Medallion Financial Corp., Investment Company
Act Rel. Nos. 29201 (Apr. 1, 2010) (notice) and 29258 (Apr. 26,
2010) (order)) and that plan was subsequently approved by the
Applicant's stockholders at the annual meeting of stockholders held
on June 11, 2010.
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    3. Applicant's Eligible Directors are eligible to receive options
under the Amended Director Plan. Under the Amended Director Plan, a
maximum of 200,000 shares of Applicant's Common Stock, in the
aggregate, may be issued to Eligible Directors and there is no limit on
the number of shares of Applicant's Common Stock that may be issued to
any one Eligible Director. The Amended Director Plan also provides that
(i) at each annual shareholders' meeting after the Approval Date, each
Eligible Director elected or re-elected at that meeting to a three-year
term will automatically be granted options to purchase 9,000 shares of
Applicant's Common Stock; and (ii) upon the election, reelection or
appointment of an Eligible Director to the Board other than at the
annual shareholders' meeting, that Eligible Director will be granted an
option to purchase that number of shares of Common Stock determined by
multiplying 9,000 by a fraction, the numerator of which is equal to the
number of whole months remaining in the new director's term and the
denominator of which is 36. The options issued under the Amended
Director Plan will vest and become exercisable with respect to one-
third of the number of shares covered by such option on each of the
first three anniversaries of the date of the grant.
    4. Under the terms of the Amended Director Plan, the exercise price
of an option will be the ``Fair Market Value'' of the Common Stock,
which is the closing price of the Common Stock as reported in the Wall
Street Journal, Northeast Edition, as quoted on the NASDAQ Global
Select Market, the successor to the NASDAQ National Market, on the date
of grant, or if no such market value exists, the fair market value of a
share (which may not be less than the current net asset value per
share), as determined by a committee consisting of directors of the
Applicant who are not eligible to participate in the 2006 Director Plan
or the Amended Director Plan pursuant to a reasonable method adopted in
good faith for such purpose. Options granted under the Amended Director
Plan will expire ten years from the date of grant and may not be
transferred other than by will or the laws of descent and distribution.
Any Eligible Director holding exercisable options under the Amended
Director Plan who ceases to be an Eligible Director for any reason,
other than permanent disability, death or removal for cause, may
exercise the rights the director had under the options on the date the
director ceased to be an Eligible Director for a period of up to three
months following that date. No additional options held by the director
will become exercisable after the three

month period. In the event of removal of an Eligible Director for
cause, all outstanding options held by such director shall terminate as
of the date of the director's removal. Upon the permanent disability or
death of an Eligible Director, those entitled to do so under the
director's will or the laws of descent and distribution will have the
right, at any time within twelve months after the date of permanent
disability or death, to exercise in whole or in part any rights which
were available to the director at the time of the director's permanent
disability or death.
    5. Applicant's officers and employees, including employee
directors, are eligible or have been eligible to receive options under
Applicant's 2006 Employee Stock Option Plan (the ``2006 Employee
Plan''), which replaced the Amended and Restated 1996 Stock Option Plan
(the ``1996 Employee Plan''), which expired on May 21, 2006.
Applicant's employees are also eligible to receive grants of restricted
stock under its 2009 Employee Restricted Stock Plan (the ``Restricted
Stock Plan'').\5\ Eligible Directors are not eligible to receive stock
options or Restricted Stock under the 2006 Employee Plan, the 1996
Employee Plan or under the Restricted Stock Plan. Eligible Directors
are eligible or have been eligible to participate in the Applicant's
2006 Director Plan under which no shares of the Applicant's Common
Stock remain for issuance. Under the Amended Director Plan, the
Restricted Stock Plan and the 2006 Employee Plan, an aggregate of
1,800,000 shares of the Applicant's Common Stock have been reserved for
issuance to the Applicant's directors, officers and employees (800,000
shares are reserved for issuance under the 2006 Employee Plan, 800,000
shares under the Restricted Stock Plan and 200,000 shares under the
Amended Director Plan). The remaining 156,155 shares of the Applicant's
Common Stock subject to issuance to officers and employees under the
2006 Employee Plan represent 0.73% of the 21,451,243 shares of the
Applicant's Common Stock outstanding as of June 15, 2012. The remaining
627,392 shares of the Applicant's Common Stock subject to issuance to
officers and employees under the Restricted Stock Plan represent 2.93%
of the Applicant's Common Stock outstanding as of June 15, 2012. The
200,000 shares that would be available for issuance under the Amended
Director Plan would comprise 0.93% of the Applicant's Common Stock
outstanding as of June 15, 2012. The Applicant has no restricted stock,
warrants, options or rights to purchase its outstanding voting
securities other than those granted or to be granted to its directors,
officers and employees pursuant to the Restricted Stock Plan, Amended
Director Plan, the 2006 Director Plan, the 1996 Employee Plan and the
2006 Employee Plan.
---------------------------------------------------------------------------

    \5\ As of June 15, 2012, grants of 172,608 shares of Restricted
Stock have been made under the Restricted Stock Plan. \\
---------------------------------------------------------------------------

    6. The amount of voting securities of the Applicant that would, on
the Approval Date, result from the grant of all restricted stock issued
or issuable under the Restricted Stock Plan is 800,000 shares, from the
exercise of all options issued or issuable to the Applicant's directors
under the Amended Director Plan is 200,000 shares, from the exercise of
all options issued or issuable to the Applicant's officers and
employees under the 2006 Employee Plan is 800,000 shares, and from the
exercise of all options issued or issuable to the Applicant's officers
and employees under the 1996 Employee Plan is 331,214 shares, which is
approximately 3.73%, 0.93%,\6\ 3.73%, and 1.54%, respectively, of the
21,451,243 shares of the Applicant's Common Stock outstanding on June
15, 2012. This totals 2,131,214 shares in the aggregate, or
approximately 9.94% of the 21,451,243 shares of the Applicant's Common
Stock outstanding on June 15, 2012. No options remain issued, issuable
or exercisable under the 1996 Director Plan.
---------------------------------------------------------------------------

    \6\ The increase of 100,000 shares under the Amended Director
Plan represents 0.47% of the Applicant's outstanding Common Stock.
---------------------------------------------------------------------------

Applicant's Legal Analysis

    1. Section 63(3) of the Act permits a BDC to sell its common stock
at a price below current net asset value upon the exercise of any
option issued in accordance with section 61(a)(3). Section 61(a)(3)(B)
provides, in pertinent part, that a BDC may issue to its non-employee
directors options to purchase its voting securities pursuant to an
executive compensation plan, provided that: (a) The options expire by
their terms within ten years; (b) the exercise price of the options is
not less than the current market value of the underlying securities at
the date of the issuance of the options, or if no market exists, the
current net asset value of the voting securities; (c) the proposal to
issue the options is authorized by the BDC's shareholders, and is
approved by order of the Commission upon application; (d) the options
are not transferable except for disposition by gift, will or intestacy;
(e) no investment adviser of the BDC receives any compensation
described in section 205(a)(1) of the Investment Advisers Act of 1940,
except to the extent permitted by clause (b)(1) or (b)(2) of that
section; and (f) the BDC does not have a profit-sharing plan as
described in section 57(n) of the Act.
    2. In addition, section 61(a)(3) provides that the amount of the
BDC's voting securities that would result from the exercise of all
outstanding warrants, options, and rights at the time of issuance may
not exceed 25% of the BDC's outstanding voting securities, except that
if the amount of voting securities that would result from the exercise
of all outstanding warrants, options, and rights issued to the BDC's
directors, officers, and employees pursuant to any executive
compensation plan would exceed 15% of the BDC's outstanding voting
securities, then the total amount of voting securities that would
result from the exercise of all outstanding warrants, options, and
rights at the time of issuance will not exceed 20% of the outstanding
voting securities of the BDC.
    3. Applicant represents that its proposal to grant certain stock
options to Eligible Directors under the Amended Director Plan meets all
the requirements of section 61(a)(3). Applicant states that the Board
is actively involved in the oversight of Applicant's affairs and that
it relies extensively on the judgment and experience of its Board. In
addition to their duties as Board members generally, Applicant states
that the Eligible Directors provide guidance and advice on financial
and operational issues, credit and loan policies, asset valuation and
strategic direction, as well as serving on committees. Applicant
believes that the availability of options under the Amended Director
Plan will provide significant at-risk incentives to Eligible Directors
to remain on the Board and devote their best efforts to ensure
Applicant's success. Applicant states that the options will provide a
means for the Eligible Directors to increase their ownership interests
in Applicant, thereby ensuring close identification of their interests
with those of Applicant and its stockholders. Applicant asserts that by
providing incentives such as options, Applicant will be better able to
maintain continuity in the Board's membership and to attract and retain
the highly experienced, successful and motivated business and
professional people who are critical to Applicant's success as a BDC.
    4. Applicant states that the amount of voting securities that would
on the Approval Date result from the grant of

all restricted stock issued or issuable under the Restricted Stock Plan
and the exercise of all outstanding options issued or issuable to the
directors, officers, and employees under the Amended Director Plan, the
2006 Employee Plan and the 1996 Employee Plan would be 2,131,214 shares
of Applicant's Common Stock, or approximately 9.94% of Applicant's
shares of Common Stock outstanding on June 15, 2012, which is below the
percentage limitations in the Act. Applicant asserts that, given the
relatively small amount of Common Stock issuable to Eligible Directors
upon their exercise of options under the Amended Director Plan, the
exercise of such options would not, absent extraordinary circumstances,
have a substantial dilutive effect on the net asset value of
Applicant's Common Stock.

    For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-15638 Filed 6-26-12; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 88, Number 234 (Thursday, December 7, 2023)]
[Notices]
[Pages 85283-85284]
[FR Doc No: 2023-26868]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings #1

    Take notice that the Commission received the following exempt
wholesale generator filings:

    Docket Numbers: EG24-47-000.
    Applicants: Elkhart County Solar Project LLC.
    Description: Elkhart County Solar Project LLC submits Notice of
Self-Certification of Exempt Wholesale Generator Status.
    Filed Date: 12/1/23.
    Accession Number: 20231201-5295.
    Comment Date: 5 p.m. ET 12/22/23.

    Take notice that the Commission received the following electric
rate filings:

    Docket Numbers: ER22-910-004.
    Applicants: Rockland Electric Company PJM Interconnection L.L.C.
    Description: Compliance filing: Rockland Electric Company submits
tariff filing per 35: RECO Compliance Filing in ER22-910 to be
effective 1/1/2024.
    Filed Date: 12/1/23.
    Accession Number: 20231201-5230.
    Comment Date: 5 p.m. ET 12/22/23.

    Docket Numbers: ER23-2820-001.
    Applicants: Alabama Power Company Georgia Power Company Mississippi
Power Company.
    Description: Tariff Amendment: Alabama Power Company submits tariff
filing per 35.17(b): Laurens Solar I LGIA Deficiency Response Filing to
be effective 9/6/2023.
    Filed Date: 12/1/23.
    Accession Number: 20231201-5229.
    Comment Date: 5 p.m. ET 12/22/23.

    Docket Numbers: ER24-228-002.
    Applicants: South Cheyenne Solar LLC.
    Description: Tariff Amendment: Revision of Proposed Market-Based
Rate Tariff to be effective 12/1/2023.
    Filed Date: 12/1/23.
    Accession Number: 20231201-5248.
    Comment Date: 5 p.m. ET 12/22/23.

    Docket Numbers: ER24-509-000.
    Applicants: Pacific Gas and Electric Company.
    Description: Sec.  205(d) Rate Filing: November 2023 Western WDT
Service Agreement Biannual Filing (SA 17) to be effective 2/1/2024.
    Filed Date: 11/30/23.
    Accession Number: 20231130-5254.
    Comment Date: 5 p.m. ET 12/21/23.

    Docket Numbers: ER24-510-000.
    Applicants: Pacific Gas and Electric Company.
    Description: Sec.  205(d) Rate Filing: November 2023 Western
Interconnection Biannual Filing (SA 59) to be effective 2/1/2024.
    Filed Date: 11/30/23.
    Accession Number: 20231130-5260.
    Comment Date: 5 p.m. ET 12/21/23.

    Docket Numbers: ER24-511-000.
    Applicants: Duke Energy Florida LLC.
    Description: Sec.  205(d) Rate Filing: DEF-SECI Reimbursement Agmt
RS No. 357 to be effective 1/30/2024.
    Filed Date: 11/30/23.
    Accession Number: 20231130-5268.
    Comment Date: 5 p.m. ET 12/21/23.

    Docket Numbers: ER24-512-000.
    Applicants: New England Power Pool Participants Committee.
    Description: Sec.  205(d) Rate Filing: Dec 2023 Membership Filing
to be effective 12/1/2023.
    Filed Date: 11/30/23.
    Accession Number: 20231130-5280.
    Comment Date: 5 p.m. ET 12/21/23.

    Docket Numbers: ER24-513-000.
    Applicants: Idaho Power Company.
    Description: Sec.  205(d) Rate Filing: Revisions to Attachment C to
be effective 2/1/2024.
    Filed Date: 12/1/23.
    Accession Number: 20231201-5000.
    Comment Date: 5 p.m. ET 12/22/23.

    Docket Numbers: ER24-513-001.
    Applicants: Idaho Power Company.
    Description: Tariff Amendment: Errata to Revisions to Attachment C
to be effective 2/1/2024.
    Filed Date: 12/1/23.
    Accession Number: 20231201-5292.
    Comment Date: 5 p.m. ET 12/22/23.

    Docket Numbers: ER24-515-000.
    Applicants: Midcontinent Independent System Operator Inc. American
Transmission Company LLC.
    Description: Sec.  205(d) Rate Filing: Midcontinent Independent
System Operator Inc. submits tariff filing per 35.13(a)(2)(iii): 2023-
12-01_SA 4200-4205 ATC-WEPCo PCAs (SW WI ED Area) to be effective 1/31/
2024.
    Filed Date: 12/1/23.
    Accession Number: 20231201-5022.
    Comment Date: 5 p.m. ET 12/22/23.

    Docket Numbers: ER24-516-000.
    Applicants: Midcontinent Independent System Operator Inc.
    Description: Sec.  205(d) Rate Filing: 2023-12-01_SA 6522 MISO-
Manitowoc Public Utilities Second SSR Agrmt Lakefront 9 to be effective
2/1/2024.
    Filed Date: 12/1/23.
    Accession Number: 20231201-5156.
    Comment Date: 5 p.m. ET 12/22/23.

    Docket Numbers: ER24-517-000.
    Applicants: Duke Energy Florida LLC.
    Description: Sec.  205(d) Rate Filing: DEF-SECI Reimbursement Agmt
(Gilchrist) RS No. 356 to be effective 1/31/2024.
    Filed Date: 12/1/23.
    Accession Number: 20231201-5177.
    Comment Date: 5 p.m. ET 12/22/23.

    Docket Numbers: ER24-518-000.
    Applicants: Duke Energy Florida LLC.
    Description: Sec.  205(d) Rate Filing: DEF-SECI Reimbursement Agmt
(Columbia) RS No. 355 to be effective 1/31/2024.
    Filed Date: 12/1/23.
    Accession Number: 20231201-5193.
    Comment Date: 5 p.m. ET 12/22/23.

    Docket Numbers: ER24-519-000.
    Applicants: Morongo Transmission LLC.
    Description: Sec.  205(d) Rate Filing: Annual Operating Cost Update
Filing 2024 to be effective 1/1/2024.
    Filed Date: 12/1/23.
    Accession Number: 20231201-5199.
    Comment Date: 5 p.m. ET 12/22/23.

    Docket Numbers: ER24-520-000.
    Applicants: Morongo Transmission LLC.
    Description: Sec.  205(d) Rate Filing: Annual TRBAA Filing 2024 to
be effective 1/1/2024.
    Filed Date: 12/1/23.
    Accession Number: 20231201-5205.
    Comment Date: 5 p.m. ET 12/22/23.

    Docket Numbers: ER24-521-000.
    Applicants: Duke Energy Florida LLC.
    Description: Sec.  205(d) Rate Filing: DEF-Shady Hills Amended and
Restated LGIA to be effective 11/14/2023.
    Filed Date: 12/1/23.
    Accession Number: 20231201-5215.
    Comment Date: 5 p.m. ET 12/22/23.

    Docket Numbers: ER24-522-000.
    Applicants: Alabama Power Company Georgia Power Company Mississippi
Power Company.
    Description: Sec.  205(d) Rate Filing: Alabama Power Company
submits tariff filing per 35.13(a)(2)(iii): Amendment of Americus Solar
& Battery Amended and Restated LGIA to be effective 11/20/2023.
    Filed Date: 12/1/23.
    Accession Number: 20231201-5225.

    Comment Date: 5 p.m. ET 12/22/23.

    Docket Numbers: ER24-523-000.
    Applicants: Alabama Power Company Georgia Power Company Mississippi
Power Company.
    Description: Sec.  205(d) Rate Filing: Alabama Power Company
submits tariff filing per 35.13(a)(2)(iii): SR Hope Hull LGIA Filing to
be effective 11/20/2023.
    Filed Date: 12/1/23.
    Accession Number: 20231201-5233.
    Comment Date: 5 p.m. ET 12/22/23.

    Docket Numbers: ER24-524-000.
    Applicants: San Diego Gas & Electric Company.
    Description: Informational Filing [Cycle 6] of Fifth Transmission
Owner Rate Formula Rate Mechanism of San Diego Gas & Electric Company.
    Filed Date: 12/1/23.
    Accession Number: 20231201-5262.
    Comment Date: 5 p.m. ET 12/22/23.

    Docket Numbers: ER24-525-000.
    Applicants: Manitowoc Public Utilities.
    Description: Baseline eTariff Filing: RS FERC No. 4-Monthly SSR
Payment for Lakefront No. 9 with MISO to be effective 2/1/2024.
    Filed Date: 12/1/23.
    Accession Number: 20231201-5278.
    Comment Date: 5 p.m. ET 12/22/23.

    The filings are accessible in the Commission's eLibrary system
(https://elibrary.ferc.gov/idmws/search/fercgensearch.asp) by querying
the docket number.
    Any person desiring to intervene to protest or to answer a
complaint in any of the above proceedings must file in accordance with
Rules 211 214 or 206 of the Commission's Regulations (18 CFR 385.211
385.214 or 385.206) on or before 5:00 p.m. Eastern time on the
specified comment date. Protests may be considered but intervention is
necessary to become a party to the proceeding.
    eFiling is encouraged. More detailed information relating to filing
requirements interventions protests service and qualifying facilities
filings can be found at: http://www.ferc.gov/docs-filing/efiling/filing-req.pdf. For other information call<PHONE_NUMBER> (toll free).
For TTY call<PHONE_NUMBER>.
    The Commission's Office of Public Participation (OPP) supports
meaningful public engagement and participation in Commission
proceedings. OPP can help members of the public including landowners
environmental justice communities Tribal members and others access
publicly available information and navigate Commission processes. For
public inquiries and assistance with making filings such as
interventions comments or requests for rehearing the public is
encouraged to contact OPP at<PHONE_NUMBER> or [email protected].

    Dated: December 1 2023.
Kimberly D. Bose
Secretary.
[FR Doc. 2023-26868 Filed 12-6-23; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 82, Number 192 (Thursday, October 5, 2017)]
[Notices]
[Pages 46575-46576]
[FR Doc No: 2017-21415]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-81783; File No. SR-NYSEAMER-2017-05]

Self-Regulatory Organizations; NYSE American LLC; Order Approving
Proposed Rule Change To Amend the Complimentary Products and Services
Available to Certain Eligible New Listings Pursuant to Section 146 of
the NYSE American Company Guide

September 29, 2017.

I. Introduction

    On August 11, 2017, NYSE American LLC (the ``Exchange'' or ``NYSE
American'') filed with the Securities and Exchange Commission
(``Commission'') pursuant to Section 19(b)(1) of the Securities
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a
proposed rule change to amend Section 146 of the NYSE American Company
Guide (the ``Company Guide'') to provide that companies initially
listed on or after October 1, 2017 will not be eligible to receive
corporate governance tools under the Exchange's current services
offering. The proposed rule change was published for comment in the
Federal Register on August 29, 2017.\3\ No comment letters were
received in response to the Notice. This order approves the proposed
rule change.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 81470 (August 23,
2017), 82 FR 41075 (``Notice'').
---------------------------------------------------------------------------

II. Description of the Proposed Rule Change

    The Exchange has proposed to amend Section 146 of the Company Guide
to provide that companies initially listed on or after October 1, 2017
will not be eligible to receive the corporate governance tools
described under the Exchange's current services offering.
    As set forth in Section 146 of the Company Guide, the Exchange
currently provides Eligible New Listings \4\ with complimentary Web-
hosting products and services (with a commercial value of approximately
$16,000 annually), web-casting services (with a commercial value of
approximately $6,500 annually), whistleblower hotline services (with a
commercial value of approximately $4,000 annually), news distribution
products and services (with a commercial value of approximately $20,000
annually), and corporate governance tools (with a commercial value of
approximately $15,000 annually) for a period of 24 calendar months.\5\
According to the Exchange, companies that qualify as Eligible New
Listings have generally not been interested in utilizing the corporate
governance tools available as part of the Exchange's services
offering.\6\ The Exchange has therefore proposed to discontinue the
corporate governance tools portion of its service offering for
companies that list on or after October 1, 2017.\7\ The Exchange
proposal states, however, that any Eligible New Listing that lists
prior to October 1, 2017 will continue to be able to access the
corporate governance tools for a period of 24 months to the extent
their eligibility permits under current Section 146 of the Company
Guide.\8\
---------------------------------------------------------------------------

    \4\ For the purposes of Section 146, the term ``Eligible New
Listing'' means: (i) Any U.S. company that lists common stock on the
Exchange for the first time and any non-U.S. company that lists an
equity security on the Exchange under Section 101 or 110 of the
Company Guide for the first time, regardless of whether such U.S. or
non-U.S. company conducts an offering; (ii) any U.S. or non- U.S.
company that transfers its listing of common stock or equity
securities, respectively, to the Exchange from another national
securities exchange; and (iii) any U.S. or non-U.S. company emerging
from a bankruptcy, spinoff (where a company lists new shares in the
absence of a public offering), and carve-out (where a company carves
out a business line or division, which then conducts a separate
initial public offering).
    \5\ See Section 146 of the Company Guide.
    \6\ See Notice, supra note 3, at 41076.
    \7\ See id.
    \8\ See id.
---------------------------------------------------------------------------

III. Discussion and Commission Findings

    The Commission has carefully reviewed the proposed rule change and
finds that it is consistent with the requirements of Section 6 of the
Act.\9\ Specifically, the Commission finds that the proposal is
consistent with Sections 6(b)(4) \10\ and 6(b)(5) of the Act \11\ in
particular, in that the proposed rule is designed to provide for the
equitable allocation of reasonable dues, fees, and other charges among
Exchange members, issuers, and other persons using the Exchange's
facilities, and is not designed to permit unfair discrimination between
customers, issuers, brokers, or dealers. Moreover, the Commission
believes that the proposed rule change is consistent with Section
6(b)(8) of the Act \12\ in that it does not impose any burden on
competition not necessary or appropriate in furtherance of the purposes
of the Act.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78f. In approving this proposed rule change, the
Commission has considered the proposed rule's impact on efficiency,
competition, and capital formation. See 15 U.S.C. 78c(f).
    \10\ 15 U.S.C. 78f(b)(4).
    \11\ 15 U.S.C. 78f(b)(5).
    \12\ 15 U.S.C. 78f(b)(8).
---------------------------------------------------------------------------

    The Commission believes that it is consistent with the Act for the
Exchange to modify its existing complimentary service offerings to no
longer offer corporate governance tools to Eligible New Listings that
list on or after October 1, 2017. The Exchange states that Eligible New
Listings have generally not been interested in utilizing the corporate
governance tools offered by the Exchange.\13\ The Commission believes
it is reasonable and consistent with the Act for the Exchange to
discontinue such services if it believes they are not being utilized.
The Commission notes that the effect of the proposal is to reduce the
commercial value of offerings to Eligible New Listings by $15,000
annually, which is the value of the corporate governance tools as
currently set forth in Section 146 of the Company Guide. The value of
the remaining offerings to Eligible New Listings will continue to
remain transparent under Section 146 of the Company Guide. The
Commission believes that by accurately describing in the Company Guide
the current products and services available to listed companies and the
current values of those products and services, the Exchange is
maintaining transparency with respect to its rules and the fees
applicable to such companies. This helps to ensure that individual
listed companies are not given specially negotiated packages of
products and services to list or remain listed that would raise unfair
discrimination issues under the Act.\14\
---------------------------------------------------------------------------

    \13\ See Notice, supra note 3, at 41076.
    \14\ See Securities Exchange Act Release No. 77401 (March 17,
2016), 81 FR 15585 (March 23, 2016) (SR-NYSEMKT-2016-12) (order
approving the initial complimentary products and services provided
by the Exchange to Eligible New Listings).
---------------------------------------------------------------------------

    Under the proposal, Eligible New Listings that list prior to
October 1, 2017 will remain eligible to receive all the complimentary
products and services currently provided by the Exchange, including the
corporate governance tools. The Commission notes that Section 6(b)(5)
of the Act does not require that all issuers be treated the same;
rather, the Act requires that the rules of an exchange not unfairly
discriminate between issuers. The Exchange states that it believes it
is not unfairly discriminatory to continue to offer corporate
governance tools to companies listed prior to October 1, 2017, as that
benefit was part of the services offering that was available at the
time of such companies' initial listing and may have had some influence
over their listing decisions.\15\
---------------------------------------------------------------------------

    \15\ See Notice, supra note 3, at 41076.

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

    The Commission believes that the Exchange has provided a sufficient
basis for its different treatment of Eligible New Listings that list
prior to October 1, 2017 and that this portion of the Exchange's
proposal meets the requirements of the Act. In making this
determination, the Commission notes that the provision of services
under Section 146 of the Company Guide is for a limited duration and
that the Exchange has provided a reasonable basis for deciding to treat
Eligible New Listings that list prior to October 1, 2017 differently
from other listed companies going forward. The Commission notes that at
the time such companies listed, they had an expectation, if they
intended to utilize the corporate governance tools, to be able to do so
for the entire 24 month period as set forth in the current rule. To
allow such companies listed prior to October 1, 2017 to finish
utilizing corporate governance tools for any remainder of their 24
month period appears to be reasonable, equitable, and not unfairly
discriminatory. In addition, the Commission notes that the October 1,
2017 date, to curtail the offering of corporate governance tools for
Eligible New Listings that list on or after that date, was transparent
and published for comment in advance of approval by the Commission in
the order discussed herein. As noted above, the Commission received no
comments on the proposal. Finally, the Commission has also previously
approved proposals providing different services to newly-listed
issuers, including those transferring their listing from another
exchange, and has found this consistent with Sections 6(b)(4) and
6(b)(5) of the Act.\16\
---------------------------------------------------------------------------

    \16\ See Securities Exchange Act Release Nos. 76127 (October 9,
2015), 80 FR 62584 (October 16, 2015) (order approving SR-NYSE-2015-
36); 72669 (July 24, 2014), 79 FR 44234 (July 30, 2014) (order
approving SR-NASDAQ-2014-058); 65963 (December 15, 2011), 76 FR
79262 (December 21, 2011) (order approving SR-NASDAQ-2011-122).
---------------------------------------------------------------------------

    Accordingly, the Commission finds that the proposed rule change is
consistent with the requirements of the Act and, in particular, that
the products and services provided under Section 146 of the Company
Guide are equitably allocated among issuers consistent with Section
6(b)(4) of the Act, the proposed rule change does not unfairly
discriminate among issuers consistent with Section 6(b)(5) of the Act,
and the proposed rule change is appropriate and consistent with Section
6(b)(8) of the Act in that it does not impose any burden on competition
not necessary or appropriate in furtherance of the purposes of the
Act.\17\
---------------------------------------------------------------------------

    \17\ 15 U.S.C. 78f(b)(4), (5), and (8).
---------------------------------------------------------------------------

IV. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\18\ that the proposed rule change (SR-NYSEAMER-2017-05), be, and
hereby is, approved.
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    \18\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\19\
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    \19\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-21415 Filed 10-4-17; 8:45 am]
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 [Federal Register Volume 76, Number 142 (Monday, July 25, 2011)] [Proposed Rules] [Pages 44285-44286] [FR Doc No: 2011-18660]

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Proposed Rules

                                                Federal Register

________________________________________________________________________

This section of the FEDERAL REGISTER contains notices to the public of

the proposed issuance of rules and regulations. The purpose of these

notices is to give interested persons an opportunity to participate in

the rule making prior to the adoption of the final rules.

========================================================================

Federal Register / Vol. 76, No. 142 / Monday, July 25, 2011 /

Proposed Rules

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Docket No. FAA-2011-559; Airspace Docket No. 11-ASO-23]

Proposed Amendment of Class E Airspace; Fayette, AL

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice of proposed rulemaking (NPRM).

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SUMMARY: This action proposes to amend Class E Airspace at Fayette, AL,

as the Fayette Non-Directional Beacon (NDB) has been decommissioned and

new Standard Instrument Approach Procedures have been developed at

Richard Arthur Airport. This action would enhance the safety and

airspace management of Instrument Flight Rules (IFR) operations at the

airport. This action also would update the airport's geographic

coordinates and note the name change to Richard Arthur Field.

DATES: Comments must be received on or before September 8, 2011. The

Director of the Federal Register approves this incorporation by

reference action under title 1, Code of Federal Regulations, part 51,

subject to the annual revision of FAA, Order 7400.9 and publication of

conforming amendments.

ADDRESSES: Send comments on this rule to: U. S. Department of

Transportation, Docket Operations, West Building Ground Floor, Room

W12-140, 1200 New Jersey Avenue, SE., Washington, DC 20590-0001;

Telephone: 1-800-647-5527; Fax:<PHONE_NUMBER>. You must identify the

Docket Number FAA-2011-559; Airspace Docket No. 11-ASO-23, at the

beginning of your comments. You may also submit and review received

comments through the Internet at http://www.regulations.gov.

FOR FURTHER INFORMATION CONTACT: John Fornito, Operations Support

Group, Eastern Service Center, Federal Aviation Administration, P.O.

Box 20636, Atlanta, Georgia 30320; telephone<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Comments Invited

    Interested persons are invited to comment on this rule by

submitting such written data, views, or arguments, as they may desire.

Comments that provide the factual basis supporting the views and

suggestions presented are particularly helpful in developing reasoned

regulatory decisions on the proposal. Comments are specifically invited

on the overall regulatory, aeronautical, economic, environmental, and

energy-related aspects of the proposal.

    Communications should identify both docket numbers (FAA Docket No.

FAA-2011-559; Airspace Docket No. 11-ASO-23) and be submitted in

triplicate to the Docket Management System (see ADDRESSES section for

address and phone number). You may also submit comments through the

Internet at http://www.regulations.gov.

    Annotators wishing the FAA to acknowledge receipt of their comments

on this action must submit with those comments a self-addressed stamped

postcard on which the following statement is made: ``Comments to Docket

No. FAA-2011-559; Airspace Docket No. 11-ASO-23.'' The postcard will be

date/time stamped and returned to the commenter.

    All communications received before the specified closing date for

comments will be considered before taking action on the proposed rule.

The proposal contained in this notice may be changed in light of the

comments received. A report summarizing each substantive public contact

with FAA personnel concerned with this rulemaking will be filed in the

docket.

Availability of NPRMs

    An electronic copy of this document may be downloaded from and

comments submitted through http://www.regulations.gov. Recently

published rulemaking documents can also be accessed through the FAA's

Web page at http://www.faa.gov/airports_airtraffic/air_traffic/publications/airspace_amendments/.

    You may review the public docket containing the proposal, any

comments received, and any final disposition in person in the Dockets

Office (see the ADDRESSES section for address and phone number) between

9 a.m. and 5 p.m., Monday through Friday, except Federal Holidays. An

informal docket may also be examined during normal business hours at

the office of the Eastern Service Center, Federal Aviation

Administration, room 210, 1701 Columbia Avenue, College Park, Georgia

30337.

    Persons interested in being placed on a mailing list for future

NPRMs should contact the FAA's Office of Rulemaking,<PHONE_NUMBER>, to

request a copy of Advisory circular No. 11-2A, Notice of Proposed

Rulemaking distribution System, which describes the application

procedure.

The Proposal

    The FAA is considering an amendment to Title 14, Code of Federal

Regulations (14 CFR) part 71 to amend Class E airspace extending upward

from 700 feet above the surface to support new standard instrument

approach procedures developed at Richard Arthur Field, Fayette, AL.

Airspace reconfiguration is necessary due to the decommissioning of the

Fayette NDB and cancellation of the NDB approach, and for continued

safety and management of IFR operations at the airport. The geographic

coordinates for Richard Arthur Field also would be adjusted to coincide

with the FAAs aeronautical database. Also, the airport name would be

changed from Richard Arthur Field Airport to Richard Arthur Field.

    Class E airspace designations are published in Paragraph 6005 of

FAA order 7400.9U, dated August 18, 2010, and effective September 15,

2010, which is incorporated by reference in 14 CFR 71.1. The Class E

airspace designation listed in this document will be published

subsequently in the Order.

    The FAA has determined that this proposed regulation only involves

an established body of technical regulations for which frequent and

routine amendments are necessary to keep them operationally current.

It, therefore, (1) Is not a ``significant regulatory action'' under

Executive Order 12866; (2) is not a ``significant rule'' under DOT

Regulatory Policies and Procedures (44 FR 11034; February 26, 1979);

and (3) does not warrant preparation of a Regulatory Evaluation as the

anticipated impact is so minimal.

Since this is a routine matter that will only affect air traffic

procedures and air navigation, it is certified that this proposed rule,

when promulgated, would not have a significant economic impact on a

substantial number of small entities under the criteria of the

Regulatory Flexibility Act.

    The FAA's authority to issue rules regarding aviation safety is

found in Title 49 of the United States Code. Subtitle I, Section 106

describes the authority of the FAA Administrator. Subtitle VII,

Aviation Programs, describes in more detail the scope of the agency's

authority. This proposed rulemaking is promulgated under the authority

described in Subtitle VII, Part, A, Subpart I, Section 40103. Under

that section, the FAA is charged with prescribing regulations to assign

the use of airspace necessary to ensure the safety of aircraft and the

efficient use of airspace. This proposed regulation is within the scope

of that authority as it would amend Class E airspace at Richard Arthur

Field, Fayette, AL.

Lists of Subjects in 14 CFR Part 71

    Airspace, Incorporation by reference, Navigation (air).

The Proposed Amendment

    In consideration of the foregoing, the Federal Aviation

Administration proposes to amend 14 CFR Part 71 as follows:

PART 71--DESIGNATION OF CLASS A, B, C, D, AND E AIRSPACE AREAS; AIR

TRAFFIC SERVICE ROUTES; AND REPORTING POINTS

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

    Authority: 49 U.S.C. 106(g); 40103, 40113, 40120; E.O. 10854, 24

FR 9565, 3 CFR, 1959-1963 Comp., p. 389.

Sec.  71.1  [Amended]

    2. The incorporation by reference in 14 CFR 71.1 of Federal

Aviation Administration Order 7400.9U, Airspace Designations and

Reporting Points, dated August 18, 2010, effective September 15, 2010,

is amended as follows:

Paragraph 6005. Class E airspace areas extending upward from 700

feet or more above the surface of the earth.

* * * * *

ASO AL E5 Fayette, AL [Amended]

Richard Arthur Field, AL

    (Lat. 33[deg]42'33'' N., long. 87[deg]48'55'' W.)

    That airspace extending upward from 700 feet above the surface

within an 8-mile radius of the Richard Arthur Field.

    Issued in College Park, Georgia, on July 14, 2011.

Mark D. Ward,

Manager, Operations Support Group, Eastern Service Center, Air Traffic

Organization.

[FR Doc. 2011-18660 Filed 7-22-11; 8:45 am]

BILLING CODE 4910-13-P


[Federal Register: May 15, 2009 (Volume 74, Number 93)]
[Notices]
[Page 22922]
[DOCID:fr15my09-61]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[ER08-1588-000; EL09-6-000]

Notice of Motion to Brief the Commission

May 8, 2009.

Kentucky Utilities Company...  Docket No. ER08-1588-000.
Frankfort Electric and Water   Docket No. EL09-6-000.
 Plant Board.
    City of Barbourville,
     Kentucky
    City of Bardstown,
     Kentucky
    City of Bardwell,
     Kentucky
    City of Benham, Kentucky
    City of Berea, Kentucky
    City of Corbin, Kentucky
    City of Falmouth,
     Kentucky
    City of Madisonville,
     Kentucky
    City of Nicholasville,
     Kentucky
    City of Paris, Kentucky
    City of Providence,
     Kentucky
        Complainants.........
            v.
Kentucky Utilities Company
        Respondent...........

    On May 6, 2009, Kentucky Utilities Company and the Kentucky
Municipals \1\ submitted a joint Motion to Brief the Commission on an
Outstanding Issue in the above-captioned proceeding. The Commission
provides notice that it will allow the parties to file briefs with the
Commission. Initial briefs are due to the Commission by June 1, 2009;
reply briefs are due to the Commission by July 1, 2009.
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    \1\ The Kentucky Municipals are the Frankfort Electric and Water
Plant Board, and the Cities of Barbourville, Bardstown, Bardwell,
Benham, Berea, Corbin, Falmouth, Madisonville, Nicholasville, Paris,
and Providence, Kentucky.

Kimberly D. Bose,
Secretary.
[FR Doc. E9-11340 Filed 5-14-09; 8:45 am]

BILLING CODE 6717-01-P