[Federal Register: April 9, 2009 (Volume 74, Number 67)]
[Notices]
[Page 16207]
[DOCID:fr09ap09-59]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 2030-186]

Portland General Company and The Confederated Tribes of Warm
Springs; Notice of Filing of Petition for Declaratory Order

April 2, 2009.
    Take notice that on March 6, 2009, Anita Jackson, Charles Jackson,
Deborah Jackson, and Mark Jackson (Jackson family or petitioners) filed
a petition for declaratory order requesting the Commission to issue a
order finding that the licensee for the Pelton Round Butte Project No.
2030 is required to pay reasonable charges pursuant to section 10(e) of
the Federal Power Act to the Jackson family for use of their land in
the operation of the Round Butte Hydroelectric Project. The petition
states that the named members of the Jackson family are members of the
Confederated Tribe of Warm Springs and own an undivided one-third
beneficial interest in allotments 527, 528, and 532 within the Warm
Springs Reservation. The petition notes that the Confederated Tribes of
Warm Springs owns the remaining undivided two-thirds beneficial
interest in the allotments, and the Bureau of Indian Affairs is the
trustee for the allotments.
    The deadline for filing (1) comments in response to this filing, or
(2) motions to intervene to become a party (pursuant to 18 CFR 385.214)
is 30 days from the issuance of this notice.
    All filings should be filed electronically via the Internet. See 18
CFR 385.2001(a)(1)(iii) and the instructions on the Commission's Web
site under the ``e-Filing'' link. If unable to be filed electronically,
documents may be paper-filed. To paper-file, an original and eight
copies should be mailed to: Kimberly D. Bose, Secretary, Federal Energy
Regulatory Commission, 888 First Street, NE., Washington, DC 20426. For
more information on how to submit these types of filings see 18 CFR
385.2001 and 385.2003 or go to the Commission's Web site located at
http://www.ferc.gov/help/filing-guide/file-hardcopy-elec.asp.
    More information about this project can be viewed or printed on the
``eLibrary'' link of Commission's Web site at http://www.ferc.gov/docs-
filing/elibrary.asp. Enter the docket number (P-2030) in the docket
number field to access the document. For assistance, call toll-free 1-
866-208-3372.

Kimberly D. Bose,
Secretary.
 [FR Doc. E9-8051 Filed 4-8-09; 8:45 am]

BILLING CODE 6717-01-P


[Federal Register: April 17, 2006 (Volume 71, Number 73)]
[Notices]
[Page 19769-19770]
[DOCID:fr17ap06-111]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-53623; File No. 4-514]

Self-Regulatory Organizations; Order Approving Minor Rule
Violation Plan for The NASDAQ Stock Market LLC

April 10, 2006.
    On February 22, 2006, The NASDAQ Stock Market LLC (``Nasdaq'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') a proposed minor rule violation plan (``MRVP'')
pursuant to Section 19(d)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19d-1(c)(2) thereunder.\2\ The proposed MRVP was
published for public comment on March 16, 2006.\3\ The Commission
received no comments on the proposal. This order approves Nasdaq's
proposed MRVP.
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    \1\ 15 U.S.C. 78s(d)(1).
    \2\ 17 CFR 240.19d-1(c)(2).
    \3\ See Securities Exchange Act Release No. 53428 (March 7,
2006), 71 FR 13645.

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    Nasdaq's MRVP specifies those uncontested minor rule violations
with sanctions not exceeding $2,500 which would not be subject to the
provisions of Rule 19d-1(c)(1) under the Act \4\ requiring that a self-
regulatory organization promptly file notice with the Commission of any
final disciplinary action taken with respect to any person or
organization.\5\ In accordance with paragraph (c)(2) of Rule 19d-1 of
the Act, Nasdaq proposes to designate certain specified rule violations
as minor rule violations, and requests that it be relieved of the
reporting requirements regarding such violations, provided it gives
notice of such violations to the Commission on a quarterly basis.
Nasdaq proposes to include in its proposed MRVP the policies and
procedures currently included in Nasdaq Rule 9216(b) (``Procedure for
Violations Under Plan Pursuant to SEC Rule 19d-1(c)(2)'') and the rule
violations currently included in Nasdaq Rule IM-9216 (``Violations
Appropriate for Disposition Under Plan Pursuant to SEC Rule 19d-
1(c)(2)'').\6\
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    \4\ 17 CFR 240.19d-1(c)(1).
    \5\ The Commission adopted amendments to paragraph (c) of Rule
19d-1 to allow self-regulatory organizations (``SROs'') to submit
for Commission approval plans for the abbreviated reporting of minor
disciplinary infractions. See Securities Exchange Act Release No.
21013 (June 1, 1984), 49 FR 23828 (June 8, 1984). Any disciplinary
action taken by an SRO against any person for violation of a rule of
the SRO which has been designated as a minor rule violation pursuant
to such a plan filed with the Commission shall not be considered
``final'' for purposes of Section 19(d)(1) of the Act if the
sanction imposed consists of a fine not exceeding $2,500 and the
sanctioned person has not sought an adjudication, including a
hearing, or otherwise exhausted his administrative remedies.
    \6\ On January 13, 2006, the Commission approved Nasdaq's
application for registration as a national securities exchange,
including the rules governing the Nasdaq exchange. Securities
Exchange Act Release No. 53128, 71 FR 3550 (January 23, 2006). In
the approval order, the Commission noted that Nasdaq Rule 9216(b)
and IM-9216 provided for the imposition of fines for minor rule
violations pursuant to a minor rule violation plan. Accordingly, the
Commission noted that as a condition to the operation of the Nasdaq
Exchange, Nasdaq must file a minor rule violation plan with the
Commission. Nasdaq represented that modifications may be made to IM-
9216 in the future. Nasdaq proposed that when amendments to IM-9216
are made pursuant to a rule filing submitted under Rule 19b-4 of the
Act, such a filing would automatically be deemed a request by Nasdaq
for Commission approval of a modification to its MRVP.
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    Pursuant to Nasdaq's proposed MRVP, under Rule 9216(b) and IM-9216,
Nasdaq or the Nasdaq Review Counsel may impose a fine (not to exceed
$2,500) and/or a censure on a member or an associated person with
respect to any rule listed in IM-9216. If the person against whom the
fine or censure is imposed does not dispute the violation, the
Department of Enforcement or the Department of Market Regulation may
prepare and request that such person execute a minor rule violation
plan letter. In such a letter, the member or associated person accepts
a finding of violation, consents to the imposition of sanctions, and
agrees to waive the right to a hearing before a Hearing Panel (or, if
applicable, an Extended Hearing Panel); any right of appeal to the
Nasdaq Review Council, the Commission, or the courts; and any other
challenge to the validity of the letter. The letter will describe the
act or practice engaged in or omitted; the rule, regulation, or
statutory provision violated; and the sanction or sanctions to be
imposed.
    If a member or associated person executes the minor rule violation
plan letter, the letter is submitted to the Nasdaq Review Council. The
Office of Disciplinary Affairs may accept the letter or refer it to the
Nasdaq Review Council for acceptance or rejection. Similarly, the
Review Subcommittee of the Nasdaq Review Council may accept or reject
the letter or refer it to the Nasdaq Review Council for acceptance or
rejection. If the letter is rejected, Nasdaq may take any other
appropriate disciplinary action with respect to the alleged violation
or violations.
    Nasdaq proposed that the quarterly report of actions taken on minor
rule violations under Rule 9216(b) and IM-9216 would list for each
violation: Nasdaq's internal file number for the case, the name of the
individual and/or organization, the nature of the violation, the
specific rule provision(s) violated, the sanction imposed, the number
of times the rule violation has occurred, and the date of disposition.
    The Commission finds that the proposed MRVP is consistent with the
requirements of the Act and the rules and regulations thereunder
applicable to a national securities exchange. In particular, the
Commission believes that the proposal is consistent with Section
6(b)(5) of the Act,\7\ which requires that the rules of an exchange be
designed to promote just and equitable principles of trade, to remove
impediments and to perfect the mechanism of a free and open market and
a national market system, and, in general, to protect investors and the
public interest. The Commission also believes that that proposal is
consistent with Sections 6(b)(1) and 6(b)(6) of the Act \8\ which
require that the rules of an exchange enforce compliance with, and
provide appropriate discipline for, violations of the Commission and
Exchange rules. In addition, because the MRVP offer procedural rights
to a person sanctioned under Rule 9216(b), the Commission believes that
Rule 9216(b) provides a fair procedure for the disciplining of members
and persons associated with members, consistent with Sections 6(b)(7)
and 6(d)(1) of the Act.\9\
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    \7\ 15 U.S.C. 78f(b)(5).
    \8\ 15 U.S.C. 78f(b)(1) and 78f(b)(6).
    \9\ 15 U.S.C. 78f(b)(7) and 78f(d)(1).
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    Finally, the Commission finds that the proposal is consistent with
the public interest, the protection of investors, or otherwise in
furtherance of the purposes of the Act, as required by Rule 19d-1(c)(2)
under the Act,\10\ because the MRVP strengthens Nasdaq's ability to
carry out its oversight and enforcement responsibilities as a self-
regulatory organization in cases where full disciplinary proceedings
are unsuitable in view of the minor nature of the particular violation.
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    \10\ 17 CFR 240.19d-1(c)(2).
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    In approving this proposal, the Commission in no way minimizes the
importance of compliance with Exchange rules and all other rules
subject to the imposition of sanctions under Rule 9216(b). The
Commission believes that the violation of any self-regulatory
organization's rules, as well as Commission rules, is a serious matter.
However, Rule 9216(b) provides a reasonable means of addressing
violations that do not rise to the level of requiring formal
disciplinary proceedings, while providing greater flexibility in
handling certain violations. The Commission expects that Nasdaq will
continue to conduct surveillance with due diligence and make a
determination based on its findings, on a case-by-case basis, whether a
sanction under the MRVP is appropriate, or whether a violation requires
formal disciplinary action.
    It is therefore ordered, pursuant to Rule 19d-1(c)(2) under the
Act,\11\ that the proposed MRVP for Nasdaq, File No. 4-514, be, and
hereby is, approved.
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    \11\ Id.

    For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\12\
Nancy M. Morris,
Secretary.
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    \12\ 17 CFR 200.30-3(a)(44).
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 [FR Doc. E6-5653 Filed 4-14-06; 8:45 am]

BILLING CODE 8010-01-P