[Federal Register Volume 82, Number 216 (Thursday, November 9, 2017)]
[Proposed Rules]
[Page 52037]
[FR Doc No: 2017-24421]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

21 CFR Part 73

[Docket No. FDA-2017-C-6238]

Colorcon, Inc.; Filing of Color Additive Petition

AGENCY: Food and Drug Administration, HHS.

ACTION: Notification of petition.

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SUMMARY: The Food and Drug Administration (FDA or we) is announcing
that we have filed a petition, submitted by Colorcon, Inc., proposing
that the color additive regulations be amended by expanding the
permitted uses of synthetic iron oxide as a color additive to include
use in dietary supplement tablets and capsules.

DATES: The color additive petition was filed on October 3, 2017.

ADDRESSES: For access to the docket to read background documents or
comments received, go to https://www.regulations.gov and insert the
docket number found in brackets in the heading of this document into
the ``Search'' box and follow the prompts, and/or go to the Dockets
Management Staff, 5630 Fishers Lane, Rm. 1061, Rockville, MD 20852.

FOR FURTHER INFORMATION CONTACT: Molly A. Harry, Center for Food Safety
and Applied Nutrition, Food and Drug Administration, 5001 Campus Dr.,
College Park, MD 20740,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: Under section 721(d)(1) of the Federal Food,
Drug, and Cosmetic Act (21 U.S.C. 379e(d)(1)), we are giving notice
that we have filed a color additive petition (CAP 7C0308), submitted by
Colorcon, Inc., 275 Ruth Rd., Harleysville, PA 19438. The petition
proposes to amend the color additive regulations in Sec.  73.200 (21
CFR 73.200) Synthetic iron oxide by expanding the permitted uses of
synthetic iron oxide as a color additive to include use in dietary
supplement tablets and capsules with a proposed limit of 5 milligrams,
calculated as elemental iron, per day for labeled dosages.
    We have determined under 21 CFR 25.32(k) that this action is of a
type that does not individually or cumulatively have a significant
effect on the human environment. Therefore, neither an environmental
assessment nor an environmental impact statement is required.

    Dated: November 6, 2017.
Anna K. Abram,
Deputy Commissioner for Policy, Planning, Legislation, and Analysis.
[FR Doc. 2017-24421 Filed 11-8-17; 8:45 am]
 BILLING CODE 4164-01-P


[Federal Register Volume 87, Number 32 (Wednesday, February 16, 2022)]
[Notices]
[Pages 8886-8891]
[FR Doc No: 2022-03280]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-94222; File No. SR-NYSE-2021-68]

Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing of Amendment No. 1 and Order Granting Accelerated
Approval of Proposed Rule Change, as Modified by Amendment No. 1, To
Revise the Suite of Complimentary Products and Services Offered To
Listed Companies

February 10, 2022.

I. Introduction

    On December 13, 2021, New York Stock Exchange LLC (``NYSE'' or
``Exchange'') 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 revise the suite of
complimentary products and services offered to listed companies
pursuant to Section 907.00 of the NYSE Listed Company Manual
(``Manual'' or ``LCM''). The proposed rule change was published for
comment in the Federal Register on December 29, 2021.\3\ The Commission
received no comments on the proposal. On February 4, 2022, the Exchange
filed partial Amendment No. 1 to the proposed rule change.\4\ The
Commission is publishing this notice to solicit comments on the
proposed rule change, as modified by Amendment No. 1, from interested
persons and is approving the proposed rule change, as modified by
Amendment No. 1, on an accelerated basis.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 93865 (December 23,
2021), 86 FR 74115 (``Notice'').
    \4\ In Amendment No. 1, the Exchange revised the proposal to
clarify that: (i) The products and services available to issuers
under Tier One and Tier A are limited to those stated in the rule,
(ii) an issuer's eligibility for services under Tier One and Tier
Two is based on its shares outstanding as of the preceding September
30 unless recalculated due to an additional issuance between October
1 and December 31 during the preceding calendar year, and (iii)
there is no significant change in the overall value of the services
with the exception that all issuers would receive 48 months of
whistleblower services with an approximate annual value of $4,000
rather than 24 months of such services in the Statutory Basis. In
addition, in Amendment No. 1, the Exchange provided a description of
the three new categories of products and services available to
issuers under the proposal, which include the Board of Directors
Platform, Virtual Event Platform, and Environmental, Social and
Governance Tools (``ESG''), as well as an example of how a listed
company would be eligible to receive Tier One or Tier Two services
under the proposal. Amendment No. 1 is available on the Commission's
website at: https://www.sec.gov/comments/sr-nyse-2021-68/srnyse202168-20114608-266849.pdf (``Amendment No. 1'').
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II. Description of the Proposal, as Modified by Amendment No. 1

Description of the Current Rule

    Section 907.00 of the NYSE Manual sets forth complimentary products
and services that issuers are entitled to receive in connection with
their NYSE listing.\5\ The Exchange currently offers certain
complimentary products and services and access to discounted third-
party products and services through the NYSE Market Access Center to
currently and newly listed issuers.\6\ The Exchange also provides
complimentary market surveillance products and services (with a
commercial value of approximately $55,000 annually), 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), market analytics products and services
(with a commercial value of approximately $30,000 annually), and news
distribution products and services (with a commercial value of
approximately $20,000 annually).\7\
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    \5\ See Notice, supra note 3, at 74116.
    \6\ See id.
    \7\ See id.
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    Currently, the products and services are offered to Eligible New
Listings \8\ and Eligible Transfer Companies \9\ based on the following
tiers: \10\
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    \8\ For purposes of Section 907.00 of the NYSE LCM, 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
102.01 or 103.00 of the NYSE LCM for the first time, regardless of
whether such U.S. or non-U.S. company conducts an offering and (ii)
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). For purposes of Section 907.00 of the NYSE LCM, an
``equity security'' means common stock or common share equivalents
such as ordinary shares, New York shares, global shares, American
Depository Receipts, or Global Depository Receipts. See id.
    \9\ For purposes of Section 907.00 of the NYSE LCM, the term
``Eligible Transfer Company'' means 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. See id.
    \10\ Section 907.00 of the NYSE LCM provides for separate
service entitlements for Acquisition Companies listed under Section
102.06 of the NYSE LCM and the issuers of Equity Investment Tracking
Stocks listed under Section 102.07 of the NYSE LCM. See id.
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    Tier A: For Eligible New Listings and Eligible Transfer Companies
with a global market value of $400 million or more, in each case
calculated as of the date of listing on the Exchange, the Exchange
offers market surveillance, market analytics, Web-hosting, Web-casting,
and news distribution products and services for a period of 48 calendar
months.
    Tier B: For Eligible New Listings and Eligible Transfer Companies
with a global market value of less than $400 million, in each case
calculated as of the date of listing on the Exchange, the Exchange
offers Web-hosting, market analytics, Web-casting, and news
distribution products and services for a period of 48 calendar
months.\11\
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    \11\ See id.
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    The products and services are offered to currently listed companies
that meet the eligibility requirements (``Eligible Current Listings'')
based on the following tiers:
    Tier One: The Exchange offers (i) a choice of market surveillance
or market analytics products and services, and (ii) Web-hosting and
Web-casting products and services to U.S. issuers that have 270 million
or more total shares of common stock issued and outstanding in all
share classes, including and in addition to Treasury shares, and non-
U.S. companies that have 270 million or more shares of an equity
security issued and outstanding in the U.S., each calculated annually
as of September 30 \12\ of the preceding year.
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    \12\ Under current Section 907.00 of the NYSE LCM, a U.S. issuer
or non-U.S. company that has the requisite number of shares
outstanding on September 30 will begin (or continue, as the case may
be) to receive the suite of complimentary products and services for
which it is eligible as of the following January 1. In the event
that a U.S. issuer or non-U.S. company completes a corporate action
between October 1 and December 31 that increases the number of
shares it has outstanding, the Exchange will calculate its
outstanding shares as of December 31 and determine whether it has
become eligible to receive Tier One or Tier Two services. If
eligible, the Exchange will offer such services as of the
immediately succeeding January 1. See id.
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    Tier Two: At each such issuer's election, the Exchange offers a
choice of either (i) market analytics or (ii) Web-hosting and Web-
casting products to: (1) U.S. issuers that have 160 million to
269,999,999 total shares of common stock issued and outstanding in all
share classes, including and in addition to Treasury shares, calculated
annually as of September 30 of the preceding year; and (2) non-U.S.
companies that have 160 million to 269,999,999 shares of an equity
security issued and outstanding in the U.S., calculated annually as of
September 30 of the preceding year.\13\
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    \13\ See id.
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    In addition to the foregoing, the Exchange provides all listed
issuers with complimentary access to whistleblower hotline services
(with a commercial value of approximately $4,000 annually) for a period
of 24 calendar months.\14\
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    \14\ See id.
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Proposed Amendments to Section 907.00 of the NYSE LCM

    The Exchange proposes to amend Section 907.00 of the Manual.
According to the Exchange, Eligible Current Listings would be entitled
on a prorated annual basis to a new suite of products and services
starting on the first day of the first calendar month after the
approval date for the proposed amendments.\15\ Eligible New Listings
and Eligible Transfer Companies would receive the proposed new suite of
products and services if they list on or after the date this proposal
is approved by the Commission.\16\ Moreover, the

Exchange states that issuers would not be required as a condition of
listing to utilize the complimentary products and services available to
them pursuant to Section 907.00 of the Manual, and issuers may decide
to contract themselves for other products and services.\17\ The
Exchange further states that companies receiving products and services
as Eligible New Listings or Eligible Transfer Companies that list
before the operative date will continue to be eligible to receive the
products and services for which they are eligible under the rule as in
effect before that date.\18\
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    \15\ See id.
    \16\ See id.
    \17\ See id.
    \18\ See id.
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Modified List of Products and Services

    The Exchange proposes to amend the suite of products and services
provided under Section 907.00 of the Manual. As amended, the suite of
available products and services would be as follows: Market
intelligence (with a maximum commercial value of approximately $50,000
annually),\19\ market analytics (with a maximum commercial value of
approximately $30,000 annually), board of directors platform (with a
maximum commercial value of approximately $40,000 annually),\20\
virtual event platform (with a maximum commercial value of
approximately $30,000 annually),\21\ ESG (with a maximum commercial
value of approximately $30,000 annually),\22\ Web-hosting and Web-
casting products and services (with a maximum commercial value of
approximately $25,000 annually),\23\ and news distribution products and
services (with a maximum commercial value of approximately $20,000
annually).\24\
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    \19\ The proposed services offering includes market
intelligence, rather than market surveillance as in the current
rule. According to the Exchange, this change reflects a change in
the types of service packages offered by the service providers from
whom the Exchange purchases these services. These service providers
now also provide additional information that is intended to track
investors' views about an issuer and how those views change over
time. The Exchange states that the small decrease in the value
attributed to this service is a result of pricing competition in a
highly competitive market for these services. See id. at 74117.
    \20\ The Board of Directors Platform is a software program that
enables secure document sharing, agenda sharing, and voting for
public company boards of directors. See Amendment No. 1, supra note
4, at 4.
    \21\ The Virtual Event Platform is a technology platform that
enables companies to communicate with their investors by holding
investor days, capital markets days, and other investment community
events virtually. See id. at 5.
    \22\ ESG are products and services that assist companies in
aggregating and organizing ESG on a cross-organization basis,
generally to facilitate public disclosure. See id.
    \23\ The current rule treats Web-hosting and Web-casting
services as two separate items in the suite of available services,
while the proposed rule amendments aggregate them as a single
option. According to the Exchange, it is making this change since
service providers now market these two services together rather than
separately. The Exchange states that the aggregate value of Web-
hosting and Web-casting services would increase slightly due to
increased prices charged by service providers. See Notice, supra
note 3, at 74117.
    \24\ See id. at 74116-17. The Exchange further proposes to
remove the reference to the Market Access Center from Section 907.00
of the NYSE LCM. The Exchange states that this does not reflect any
change in the nature of the services to be provided or how issuers
will access those services, and that the Market Access Center
concept was simply a way of identifying the entire suite of
available products and services and promoting their availability to
issuers. See id. at 74117.
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    The Exchange states that it proposes, in certain cases, to provide
companies with the flexibility in choosing the types and levels of
services that best meet their needs, while providing that all qualified
companies within a tier are entitled to receive the same dollar value
of services.\25\ Under the current rule, a listed company may choose
among the various service categories, where choosing a particular
service requires the company to forego another service category
entirely.\26\ The proposed rule adopts a more flexible approach for (i)
Eligible New Listings and Eligible Transfers that qualify for Tier A
and (ii) currently listed companies that qualify for Tier One, in which
cases, companies will be eligible to choose different levels of
services from the different categories, subject to a maximum overall
value of services used.\27\
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    \25\ See id.
    \26\ See id. The Exchange states, for example, that a company
with Tier One eligibility can choose either market surveillance or
market analytics products and services but cannot receive both. See
id.
    \27\ See id.
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Amended Offering for Eligible New Listings and Eligible Transfers

    The proposed amended offering of products and services for Eligible
New Listings and Eligible Transfers would be as follows:
    Tier A: For a period of 48 calendar months, with respect to
Eligible New Listings and Eligible Transfer Companies that list on the
Exchange after approval of these amendments with a global market value
of $400 million or more, in each case calculated as of the date of
listing on the Exchange, the Exchange offers products and services with
a maximum combined commercial value of approximately $125,000 annually,
consisting of (i) Web-hosting and Web-casting products and services,
(ii) news distribution products and services, and (iii) a selection
from among a suite of products and services, consisting of market
intelligence, market analytics, board of directors platform, virtual
event platform, or ESG products and services.\28\
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    \28\ See id. and Amendment No. 1, supra note 4, at 3.
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    Tier B: For a period of 48 calendar months, with respect to
Eligible New Listings and Eligible Transfer Companies that list on the
Exchange after approval of these amendments with a global market value
of less than $400 million, in each case calculated as of the date of
listing on the Exchange, the Exchange offers (i) Web-hosting and Web-
casting products and services, (ii) market analytics, and (iii) news
distribution products and services.\29\
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    \29\ See Notice, supra note 3, at 74117.
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    The Exchange states that the methodology used for determining
global market value under the proposed amended rule for an Eligible New
Listing or Eligible Transfer Company would be the same as is used under
the current rule.\30\
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    \30\ See id.
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Amended Offering for Currently Listed Companies

    The proposed amended offering of products and services for Eligible
Current Listings would be as follows:
    Tier One: For U.S. issuers that have 270 million or more total
shares of common stock issued and outstanding in all share classes,
including and in addition to Treasury shares, and non-U.S. companies
that have 270 million or more shares of an equity security issued and
outstanding in the U.S., each calculated annually as of September 30 of
the preceding year (unless recalculated due to an additional issuance
between October 1 and December 31 during the preceding calendar year),
the Exchange offers products and services with a maximum combined
commercial value of approximately $75,000 annually, to be effective as
of the following January 1, consisting of (i) Web-hosting and Web-
casting products and services and (ii) a selection from among a suite
of products and services, consisting of market intelligence, market
analytics, board of directors platform, virtual event platform, or ESG
products and services.\31\
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    \31\ See Amendment No. 1, supra note 4, at 3-4.
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    Tier Two: Effective January 1, at each issuer's election, the
Exchange offers a choice of: (i) Market analytics; (ii) Web-hosting and
Web-casting products; or (iii) virtual event platform to:
    (1) U.S. issuers that have 160 million to 269,999,999 total shares
of common stock issued and outstanding in all

share classes, including and in addition to Treasury shares, calculated
annually as of September 30 of the preceding year (unless recalculated
due to an additional issuance between October 1 and December 31 during
the preceding calendar year); and
    (2) non-U.S. companies that have 160 million to 269,999,999 shares
of an equity security issued and outstanding in the U.S., calculated
annually as of September 30 of the preceding year (unless recalculated
due to an additional issuance between October 1 and December 31 during
the preceding calendar year).\32\
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    \32\ See id.
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    The Exchange states that the methodology used in determining the
number of shares issued and outstanding for purposes of eligibility for
Tier One or Tier Two would be the same as under the current rule.\33\
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    \33\ See Notice, supra note 3, at 74117.
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Proposal To Adjust Entitlements of Currently Listed Companies After
January 1

    Pursuant to the proposed rule change, if a U.S. issuer or non-U.S.
company completes a corporate action during the course of a calendar
year for which its eligibility for services is being determined and
that corporate action increases the number of shares it has
outstanding, the Exchange would calculate its outstanding shares
immediately after such corporate action and determine whether it has
become eligible to receive Tier One or Tier Two services.\34\ If
eligible, the Exchange would offer such services for the remainder of
that calendar year, with such eligibility commencing as of the
beginning of the following calendar month.\35\ The following is a
summary of how a listed company would be able to become eligible to
receive Tier One or Tier Two services upon approval of this proposal:
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    \34\ See id. at 74117-18.
    \35\ See id. at 74118.
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    [cir] A company can become eligible for Tier One or Tier Two
services for a full calendar year starting on January 1 if it meets the
applicable shares outstanding requirement as of September 30 of the
preceding calendar year.
    [cir] A company that does not meet the applicable shares
outstanding requirement as of September 30 of the preceding calendar
year will still be eligible for services for a full calendar year if it
completes a corporate action between October 1 and December 31 that
increases the number of shares it has outstanding and the Exchange,
upon calculating the company's outstanding shares as of December 31,
determines that it has become eligible to receive Tier One or Tier Two
services. If eligible, the Exchange will offer such services as of
January 1 of the succeeding year.
    [cir] If a company qualifies to be eligible for Tier One or Tier
Two services during the course of a calendar year as set forth in the
paragraph immediately above, it will receive the services for which it
has become eligible for the remainder of that calendar year starting on
the first day of the first calendar month after its eligibility has
been determined.\36\
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    \36\ See Amendment No. 1, supra note 4, at 5.
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Period of Eligibility for Whistleblower Services

    The Exchange currently provides all listed issuers with
complimentary access to whistleblower hotline services (with a
commercial value of approximately $4,000 annually) for a period of 24
calendar months.\37\ The Exchange proposes to extend this period of
eligibility to 48 months.\38\
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    \37\ See Notice, supra note 3, at 74118.
    \38\ See id.
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III. Discussion and Commission's 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.\39\ Specifically, the Commission believes it is consistent with
the provisions of Sections 6(b)(4) and 6(b)(5) of the Act,\40\ in
particular, in that it 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
\41\ in that it does not impose any burden on competition not necessary
or appropriate in furtherance of the purposes of the Act.
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    \39\ 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).
    \40\ 15 U.S.C. 78f(b)(4) and (5).
    \41\ 15 U.S.C. 78f(b)(8).
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    The Commission believes that the proposed changes to (i) amend the
complimentary products and services it offers to companies, (ii) allow
a currently listed U.S. issuer or non-U.S. company to receive Tier One
or Tier Two services if it becomes eligible following a corporate
action during the calendar year at the beginning of the following
month, and (iii) increase the period that all issuers receive access to
whistleblower hotline services from 24 months to 48 months are
appropriate and consistent with the Act. The Commission believes that
the Exchange is responding to competitive pressures in the market for
listings in making this proposal.\42\ The Exchange represents that the
market for new listings and for the retention and transfer of listed
companies is competitive and the Commission understands that the
Exchange competes, in part, by offering complimentary services to
companies.\43\ In addition, the Commission believes that the proposal
reflects the current competitive environment for exchange listings
among national securities exchanges and does not impose any burden on
competition not necessary or appropriate in furtherance of the purposes
of the Act, consistent with Section 6(b)(8) of the Act.\44\
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    \42\ See Securities Exchange Act Release No. 65127 (Aug. 12,
2011), 76 FR 51449 (Aug. 18, 2011) (SR-NYSE-2011-20) (``2011
Approval Order''). The Exchange states that products and services
discussed herein are provided by third-party vendors. In its
proposal, the Exchange states that issuers are not forced or
required to use the complimentary products and services and some
issuers have selected competing products and services. See Notice,
supra note 3, at 74118.
    \43\ See Notice, supra note 3, at 74118-19.
    \44\ 15 U.S.C. 78f(b)(8).
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    The Commission has previously found that the package of
complimentary services offered to issuers is equitably allocated among
issuers consistent with Section 6(b)(4) of the Act.\45\ The Commission
notes that all listed companies will continue to receive some level of
free services and that, within each tier, all issuers will continue to
be offered the exact same package of services, for the same period of
time.\46\ Given that under the proposal, Eligible Current Listings,
Eligible New Listings, and Eligible Transfer Companies within each tier
will continue to be offered the same complimentary products and
services \47\ for the same period of time, the Commission continues to
believe that the package of complimentary services

is equitably allocated among issuers consistent with Section 6(b)(4) of
the Act \48\ and the rule does not unfairly discriminate between
issuers consistent with Section 6(b)(5) of the Act.\49\
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    \45\ See 2011 Approval Order, supra note 42, 76 FR at 51452. See
also Exchange Act Release No. 76127 (Oct. 9, 2015), 80 FR 62584,
62587 (Oct. 15, 2015) (SR-NYSE-2015-36) (``2015 Approval Order'').
    \46\ See infra note 51 and accompanying text.
    \47\ The Commission notes that Eligible New Listings and
Eligible Transfers that qualify for Tier A and Eligible Current
Listings that qualify for Tier One will be eligible to choose
different levels of services from the different categories, subject
to a maximum overall value of services used. See supra notes 25 and
27 and accompanying text. The Commission believes that this approach
will provide companies with greater flexibility while providing that
all qualified companies within a tier are entitled to receive the
same dollar value of services.
    \48\ 15 U.S.C. 78f(b)(4).
    \49\ 15 U.S.C. 78f(b)(5).
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    The Commission also believes that the ability of companies to
qualify for Tier One or Tier Two services during the course of a
calendar year if the company has a corporate action that increases its
number of shares and receive those services on a prorated basis for the
balance of that calendar year is consistent with the Act. The
Commission notes that those companies would need to satisfy the same
eligibility requirements as companies that are already receiving the
services of the applicable tier. Additionally, the Commission believes
that it is appropriate for the Exchange to offer varying services to
different categories of issuers.\50\ The Commission has previously
found that the tiers originally established under the corporate
products and services rule was consistent with the Act,\51\ and the
Exchange has represented that there is not ``any significant change in
the overall value of the services to which any company would be
entitled (with the exception that it is proposed that all issuers would
going forward be entitled to 48 months of whistleblower services with
an approximate annual value of $4,000, rather than 24 months of
services as is currently the case)'' under the proposed rule.\52\
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    \50\ For example, under the proposal, companies receiving
services under Tier One and Tier A will be eligible for three new
products and services as described above. See supra notes 20-22.
    \51\ See 2011 Approval Order, supra note 42. In particular, the
2011 Approval Order states that while not all issuers receive the
same level of services, NYSE has stated that trading volume and
market activity are related to the level of services that the listed
companies would use in the absence of complimentary arrangements.
The Commission found, among other things, that ``. . . the products
and services and their commercial value are equitably allocated
among issuers consistent with Section 6(b)(4) of the Act, and the
rule does not unfairly discriminate between issuers consistent with
Section 6(b)(5) of the Act.'' See id. at 51452. The Commission also
previously found that expanding the complimentary products and
services offered to some tiers but not others was justified, in
part, based on the different-sized companies within each tier and
the amount of services they needed. See Securities Exchange Act
Release No. 70971 (Dec. 3, 2013), 78 FR 73905 (Dec. 9, 2013).
    \52\ See Amendment No. 1, supra note 4, at 4.
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    Further, the Commission believes that describing in the Exchange's
rules the products and services available to listed companies, their
associated values, and the length of time for which issuers are
entitled to receive such services adds greater transparency to the
Exchange's rules and to the fees applicable to listed companies and
will ensure that individual listed companies are not given specially
negotiated packages of products or services to list, or remain listed,
which would raise unfair discrimination issues under the Act.\53\ In
addition, the Commission believes that it is reasonable, and in fact
required by Section 19(b) of the Act, that the Exchange amend its rules
to update the products and services it offers to Eligible Current
Listings, Eligible Transfer Companies, and Eligible New Listings,
including the time periods for which such products and services are
offered and the commercial value of such products and services. This
provides greater transparency to the Exchange's rules and the fees, and
the value of free products and services, applicable to listed
companies.
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    \53\ See 2015 Approval Order, supra note 45, 80 FR at 62587. The
Commission notes that the Exchange also stated that no other company
will be required to pay higher fees as a result of the proposal and
that providing the proposed services will have no impact on the
resources available for its regulatory programs. See Notice, supra
note 3, at 74118.
---------------------------------------------------------------------------

    Based on the foregoing, the Commission believes that the Exchange
has provided a sufficient basis for amending the products and services
offered to Eligible New Listings, Eligible Transfer Companies, and
Eligible Current Listings, allowing a currently listed U.S. issuer or
non-U.S. company to receive Tier One or Tier Two services if it becomes
eligible following a corporate action during the calendar year at the
beginning of the following month, and increasing the period of time
that all issuers receive complimentary access to whistleblower hotline
services from 24 months to 48 months, and that these changes are
consistent with Section 6(b)(4) of the Act.\54\ The Commission also
continues to believe that the rule does not unfairly discriminate
between issuers, consistent with Section 6(b)(5) of the Act.\55\
Finally, the Commission believes that the proposal does not impose any
burden on competition not necessary or appropriate in furtherance of
the purposes of the Act, consistent with Section 6(b)(8) of the
Act.\56\
---------------------------------------------------------------------------

    \54\ 15 U.S.C. 78f(b)(4).
    \55\ 15 U.S.C. 78f(b)(5).
    \56\ 15 U.S.C. 78f(b)(8).
---------------------------------------------------------------------------

IV. Solicitation of Comments on Amendment No. 1

    Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change, as modified by Amendment No. 1, 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 protected]. Please include
File No. SR-NYSE-2021-68 on the subject line.

Paper Comments

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

All submissions should refer to File No. SR-NYSE-2021-68. These file
numbers 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 website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule changes that are filed
with the Commission, and all written communications relating to the
proposed rule changes 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 website 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 filings also will be available
for inspection and copying at the principal office of the Exchanges.
All comments received will be posted without change. Persons submitting
comments are cautioned that we do not redact or edit personal
identifying information from comment submissions. You should submit
only information that you wish to make available publicly. All
submissions should refer to File No. SR-NYSE-2021-68 and should be
submitted on or before [insert date 21 days from publication in the
Federal Register].

V. Accelerated Approval of Proposed Rule Change, as Modified by
Amendment No. 1

    The Commission finds good cause, pursuant to Section 19(b)(2) of
the Act, to approve the proposed rule change, as modified by Amendment
No. 1, prior to the 30th day after the date of publication of Amendment
No. 1 in the Federal Register. As discussed above, in

Amendment No. 1, the Exchange generally clarifies, among other things,
(i) the ability of companies to qualify for Tier One or Tier Two
services during the course of a calendar year and (ii) the products and
services the Exchange offers to Eligible New Listings, Eligible
Transfer Companies, and Eligible Current Listings, including a
description of new products and services and updated value of the
products and services.\57\ The Commission believes that these revisions
merely provide clarity to the proposed rule change and do not raise any
new or novel issues. Accordingly, the Commission finds good cause for
approving the proposed rule change, as modified by Amendment No. 1, on
an accelerated basis, pursuant to Section 19(b)(2) of the Act.\58\
---------------------------------------------------------------------------

    \57\ See Amendment No. 1, supra note 4.
    \58\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

VI. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\59\ that the proposed rule change (SR-NYSE-2021-68), as modified
by Amendment No. 1, be, and it hereby is, approved on an accelerated
basis.
---------------------------------------------------------------------------

    \59\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\60\
---------------------------------------------------------------------------

    \60\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-03280 Filed 2-15-22; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: May 1, 2009 (Volume 74, Number 83)]
[Proposed Rules]
[Page 20270-20273]
[DOCID:fr01my09-12]

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

Coast Guard

33 CFR Part 165

[Docket No. USCG-2009-0274]
RIN 1625-AA00

Safety Zone; Norfolk Tides Post-Game Fireworks Displays,
Elizabeth River, Norfolk, VA

AGENCY: Coast Guard, DHS.

ACTION: Notice of proposed rulemaking.

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SUMMARY: The Coast Guard proposes establishing a safety zone on the
Elizabeth River in the vicinity of Harbor Park, Norfolk, VA in support
of the post-game fireworks displays over the Elizabeth River scheduled
to take place on June 6, July 2, July 3, August 21, September 3, and
September 4, 2009. This action would protect the maritime public on the
Elizabeth River from the hazards associated with fireworks displays.

DATES: Comments and related material must be received by the Coast
Guard on or before June 1, 2009.

ADDRESSES: You may submit comments identified by docket number USCG-
2009-0274 using any one of the following methods:
    (1) Federal eRulemaking Portal: http://www.regulations.gov.
    (2) Fax:<PHONE_NUMBER>.
    (3) Mail: 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.
    (4) Hand delivery: Same as mail address above, between 9 a.m. and 5
p.m., Monday through Friday, except Federal holidays. The telephone
number is<PHONE_NUMBER>.
    To avoid duplication, please use only one of these four methods.
See the ``Public Participation and Request for Comments'' portion of
the SUPPLEMENTARY INFORMATION section below for instructions on
submitting comments.

FOR FURTHER INFORMATION CONTACT: If you have questions on this proposed
rule, call or e-mail Lieutenant Tiffany Duffy, Chief, Waterways
Management Division, Sector Hampton Roads, Coast Guard; telephone 757-
668-5580, e-mail<EMAIL_ADDRESS>If you have questions on
viewing or submitting material to the docket, call Renee V. Wright,
Program Manager, Docket Operations, telephone<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

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.

Submitting Comments

    If you submit a comment, please include the docket number for this
rulemaking (USCG-2009-0274), 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 (via 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 via www.regulations.gov, it will be considered received
by the Coast Guard when you successfully transmit the comment. If you
fax, hand delivery, 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 e-mail 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,
select the Advanced Docket Search option on the right side of the
screen, insert ``USCG-2009-0274'' in the Docket ID box, press Enter,
and then click on the balloon shape in the Actions column. 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.

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,
select the Advanced Docket Search option on the right side of the
screen, insert USCG-2009-0274 in the Docket ID box, press Enter, and
then click on the item in the Docket ID column. 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. We have an agreement with the
Department of Transportation to use the Docket Management Facility.

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).

Public Meeting

    We do not now plan to hold a public meeting. But you may submit a
request for one using one of the four 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.

Background and Purpose

    Coast Guard Sector Hampton Roads has been notified that fireworks
displays are scheduled to occur after certain Norfolk Tides home
baseball games. Although these displays are fired from land, a portion
of the fallout zone is over the Elizabeth River. 33 CFR part 165,
subpart C describes a safety zone ``as a water area, shore area, or
water and shore area to which for safety or environmental purposes,
access is limited to authorized persons, vehicles or vessels.'' Due to
the need to protect mariners and spectators from the hazards associated
with fireworks displays, the Coast Guard proposes a safety zone
limiting access to the Elizabeth River within a 210 foot radius of the
fireworks launching area.

Discussion of Proposed Rule

    The Coast Guard proposes establishing a safety zone on the
specified waters of the Elizabeth River in the vicinity of Harbor Park,
Norfolk, VA. This safety zone would encompass all navigable waters
within a 210 foot radius of the fireworks launch site, located on land,
directly behind the stadium at approximate position 36[deg]50'30'' N/
76[deg]16'42'' W (NAD 1983). The proposed regulated area would be
established in the interest of public safety during the fireworks
display and would be enforced on June 6, July 2, July 3, August 21,
September 3, and September 4, 2009, for ten consecutive minutes
immediately following the conclusion of the baseball games, between 9
p.m. and 10:30 p.m. Access to the safety zone would be restricted
during the specified dates and times. Except for participants and
vessels authorized by the Captain of the Port or his Representative, no
person or vessel may enter or remain in the regulated area.

Regulatory Analyses

    We developed this proposed rule after considering numerous statutes
and executive orders related to rulemaking. Below we summarize our
analyses based on 13 of these statutes or executive orders.

Regulatory Planning and Review

    This proposed rule is not a significant regulatory action under
section 3(f) of Executive Order 12866, Regulatory Planning and Review,
and does not require an assessment of potential costs and benefits
under section 6(a)(3) of that Order. The Office of Management and
Budget has not reviewed it under that Order. Although this proposed
regulation would restrict access to the safety zone, the effect of this
proposed rule would not be significant because: (i) The safety zone
would be in effect for a limited duration; (ii) the zone would be of
limited size; and (iii) the Coast Guard will make notifications via
maritime advisories so mariners can adjust their plans accordingly. For
the above reasons, the Coast Guard does not anticipate any significant
economic impact.

Small Entities

    Under the Regulatory Flexibility Act (5 U.S.C. 601-612), we have
considered whether this proposed rule would have a significant economic
impact on a substantial number of small entities. The term ``small
entities'' comprises small businesses, not-for-profit organizations
that are independently owned and operated and are not dominant in their
fields, and governmental jurisdictions with populations of less than
50,000.
    The Coast Guard certifies under 5 U.S.C. 605(b) that this proposed
rule would not have a significant economic impact on a substantial
number of small entities. This proposed rule would affect the following
entities, some of which may be small entities: Owners and operators of
vessels intending to transit or anchor in that portion of the Elizabeth
River from 9 p.m. until 10:30 p.m. on June 6, July 2, July 3, August
21, September 3, and September 4, 2009. The safety zone would not have
a significant economic impact on a substantial number of small entities
for the following reasons. The safety zone will only be in place for a
limited duration. The safety zone would be of limited size. Maritime
advisories will be issued allowing the mariners to adjust their plans
accordingly. Furthermore, the safety zone would apply to only a small
portion of the Elizabeth River; there would be adequate space for
mariners to safely transit around the zone.
    If you think that your business, organization, or governmental
jurisdiction qualifies as a small entity and that this rule would have
a significant economic impact on it, please submit a comment (see
ADDRESSES) explaining why you think it qualifies and how and to what
degree this rule would economically affect it.

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 proposed rule so that they can better
evaluate its effects on them and participate in the rulemaking. 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 Lieutenant Tiffany Duffy, Chief,
Waterways Management Division, Sector Hampton Roads, Coast Guard;
telephone<PHONE_NUMBER>, e-mail<EMAIL_ADDRESS>The Coast
Guard will not retaliate against small entities that question or
complain about this proposed rule or any policy or action of the Coast
Guard.

 Collection of Information

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

 Federalism

    A rule has implications for federalism under Executive Order 13132,
Federalism, if it has a substantial direct effect on State or local
governments and would either preempt State law or impose a substantial
direct cost of compliance on them. We have analyzed this proposed rule
under that Order and have determined that it does not have implications
for federalism.

 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 or more in any
one year. Though this proposed rule would not result in such an
expenditure, we do discuss the effects of this rule elsewhere in this
preamble.

 Taking of Private Property

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

Civil Justice Reform

    This proposed 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.

Protection of Children

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

Indian Tribal Governments

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

Energy Effects

    We have analyzed this proposed rule under Executive Order 13211,
Actions Concerning Regulations That Significantly Affect Energy Supply,
Distribution, or Use. We have determined that it is not a ``significant
energy action'' under that order because it is not a ``significant
regulatory action'' under Executive Order 12866 and is not likely to
have a significant adverse effect on the supply, distribution, or use
of energy. The Administrator of the Office of Information and
Regulatory Affairs has not designated it as a significant energy
action. Therefore, it does not require a Statement of Energy Effects
under Executive Order 13211.

Technical Standards

    The National Technology Transfer and Advancement Act (NTTAA) (15
U.S.C. 272 note) directs agencies to use voluntary consensus standards
in their regulatory activities unless the agency provides Congress,
through the Office of Management and Budget, with an explanation of why
using these

standards would be inconsistent with applicable law or otherwise
impractical. Voluntary consensus standards are technical standards
(e.g., specifications of materials, performance, design, or operation;
test methods; sampling procedures; and related management systems
practices) that are developed or adopted by voluntary consensus
standards bodies.
    This proposed rule does not use technical standards. Therefore, we
did not consider the use of voluntary consensus standards.

Environment

    We have analyzed this proposed 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 made a preliminary determination that this action is one of a
category of actions which do not individually or cumulatively have a
significant effect on the human environment. A preliminary
environmental analysis checklist supporting this determination is
available in the docket where indicated under ADDRESSES. This proposed
rule involves establishing a safety zone around a fireworks display.
The fireworks will be launched from a land area; however some fallout
may enter the water within a 210 foot radius of the launching site.
This zone is designed to protect the maritime public from the hazards
associated with fireworks displays. We seek any comments or information
that may lead to the discovery of a significant environmental impact
from this proposed 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 proposes
to amend 33 CFR part 165 as follows:

PART 165--REGULATED NAVIGATION AREAS AND LIMITED ACCESS AREAS

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

    Authority: 33 U.S.C. 1226, 1231; 46 U.S.C. 3306, 3703 and
Chapter 701; 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.

    2. Add Sec.  165.T05-0274 to read as follows:

Sec.  165.T05-0274  Safety Zone; Norfolk Tides Post-Game Fireworks
Displays, Elizabeth River, Norfolk, VA.

    (a) Regulated Area: The following area is a safety zone: specified
waters of the Elizabeth River located within a 210 foot radius of the
fireworks launching site located at approximate position 36[deg]50'30''
N/76[deg]16'42'' W (NAD 1983), directly behind Harbor Park Stadium in
the vicinity of Norfolk, VA.
    (b) Definition: For the purposes of this part, Captain of the Port
Representative means any U.S. Coast Guard commissioned, warrant or
petty officer who has been authorized by the Captain of the Port,
Hampton Roads, Virginia to act on his behalf.
    (c) 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 Captain of the Port, Hampton Roads or his designated
representatives.
    (2) The operator of any vessel in the immediate vicinity of this
safety zone shall:
    (i) Stop the vessel immediately upon being directed to do so by any
commissioned, warrant or petty officer on shore or on board a vessel
that is displaying a U.S. Coast Guard Ensign.
    (ii) Proceed as directed by any commissioned, warrant or petty
officer on shore or on board a vessel that is displaying a U.S. Coast
Guard Ensign.
    (3) The Captain of the Port, Hampton Roads can be reached through
the Sector Duty Officer at Sector Hampton Roads in Portsmouth, Virginia
at telephone Number<PHONE_NUMBER>.
    (4) The Coast Guard Representatives enforcing the safety zone can
be contacted on VHF-FM marine band radio channel 13 (165.65Mhz) and
channel 16 (156.8 Mhz).
    (d) Enforcement Dates: This regulation will be enforced on June 6,
July 2, July 3, August 21, September 3, and September 4, 2009 from 9
p.m. until 10:30 p.m.

    Dated: April 21, 2009.
P.B. Trapp,
Captain, U.S. Coast Guard, Captain of the Port Hampton Roads.
[FR Doc. E9-10112 Filed 4-30-09; 8:45 am]

BILLING CODE 4910-15-P


Enclosure 2  -  Requirements for Tank Vessel Alternative Planning Criteria (APC) Requests

The information in this Enclosure clarifies in further detail the specific information that vessel owners or operators or APC Administrators should include when submitting an APC request pursuant to  33 C.F.R. § 155.1065(f).

1.  Reason(s) and supporting information for the APC request.  APC requests shall identify vessel risks and summarize associated national planning criteria response resource requirements along with the following information:

   a. Worst Case Discharge (WCD) volume(s) and oil group(s).

                 i.             If the APC covers one vessel, provide cargo WCD for potential, including volume and group of oil.

                 ii.             If the APC covers two or more vessels of the same class, provide the greatest WCD volume for each group of oil.

   b. Vessel operating location(s).  APC requests shall provide trackline information for vessels covered by the APC.  Vessels bound to or departing from a U.S. port or place and not engaged in innocent passage that operate within 200nm of the U.S. baseline are required to meet applicable NPC requirements as follows:

                 i.             For TVs carrying only non-persistent oils as cargo (i.e., Group I), contracted NPC response resources are required for operating environments where vessel tracklines come within 12nm from the U.S. boundary line.

                 ii.             For TVs carrying persistent oils as cargo (i.e., Groups II through V), contracts are required for tracklines within 200nm of the U.S. baseline.

                 iii.             Required response equipment.  Based on paragraphs 1.a. and 1.b. above, requests shall provide, as applicable, the additional resources required to meet NPC requirements for each class of vessel covered by the APC (i.e., per 33 C.F.R. Part 155, Appendix B).

2.  Identification of regulations necessitating the APC request.  APC requests shall detail all the NPC requirements that cannot be met, typically a limited amount of response resources, increased response time or lack of other required services, and then provide a gap analysis.  The gaps in response resources should be addressed by providing a reasonable cascade plan with the understanding that there will still be gaps in planning criteria for response times.

         a.       Response capability shortfalls.  APC requests shall document response resources under contract or other approved means; provide a comparison to all national planning criteria requirements; and list shortfalls, as applicable.  An APC request shall also provide analysis of a possible response to remote on-scene locations and/or outside of available response resource coverage, as applicable.  The analysis shall include passes, sensitive areas, and other areas of interest identified within applicable Area Contingency Plans.  Pre-planning considerations for seasonal response limitations (e.g., capability to ensure maximum response during spring/summer cleanup windows) must be included in the analysis.

3.  Alternative response approach.  APC requests shall describe strategies, tactics, and/or procedures that will provide equivalent capability to address NPC shortfalls and gaps.  Examples might include:

   a. Providing less equipment but providing a quicker response time.  An APC request might provide details for pre-staging tailored response equipment on the vessel(s) to respond immediately and develop an associated crew training program.

   b. If not able to meet the on-scene arrival timeframe, provide enhanced protection and shoreline cleanup pre-planning and mobilization capability.  An APC request might provide tailored protection resources for pre-identified sensitive areas, with contracts to facilitate mobilization of these assets no later than the on-water recovery planning standard timeframe for inland/nearshore.

   c. For areas with limited dedicated assets, provide an enhanced response vessel tracking system for non-dedicated assets.  An APC request might provide details for a vessel of opportunity training program with a tracking system, to ensure an adequate number of vessels of opportunity are continually available in the region to mount a response (e.g., ~25 vessels of opportunity monitored to ensure a minimum of 5 are available at any one time).

The Coast Guard acknowledges that some solutions available in some operating areas may not be possible in others, especially remote areas.  In these instances, where response coverage gaps exist, the Coast Guard considers an APC a temporary solution until either the gaps are closed or are formally accepted by regional Area Committees within the Area Contingency Plan as "permanent" when coupled with adequate prevention and mitigation strategies.  In addition, a strategic plan, as defined in paragraph 7.b. of the policy letter, is required to manage solutions for closing the identified gaps and moving closer to compliance with the NPC.

4.  Prevention and mitigation strategies that ensure lower risk of spills.  If applicable, APC requests shall detail prevention and mitigation strategies to ensure lower risk of spills while gap reduction strategies are being developed and implemented.  Examples might include:

   a. Routing procedures.  Providing detailed vessel routing procedures to minimize tracklines coming within  areas without response resource coverage meeting the NPC and establishing a Tracking and Monitoring System to ensure compliance.

                 i.             Tracking and Monitoring Systems require the use of real time vessel position monitoring; effective watchstanding management practices; this includes monitoring: data latency; refresh rate and trend analysis.  Other best practices include notification of vessels and the local COTP upon identification of deviations and/or anomalies; routing schemes; backup for system disruption; and response activation protocols.  The Coast Guard expects Tracking and Monitoring System proposals to have 24/7 capability that verifies compliance with routing scheme(s).

   b. Enhanced onboard emergency procedures.  Maintaining onboard equipment, procedures and training to transfer oil cargo from a breached tank to other tanks; thereby, reducing the amount of oil that could potentially be lost.

   c. Enhanced lightering.  Providing onboard or in region lightering capability, procedures and training to expedite lightering of oil cargo to vessels of opportunity or onshore.

   d. Providing emergency towing capability.  Provide details for monitoring vessel movement; notification of potential emergencies; and dedicated tug capability, which could be dispatched to arrive on-scene within the timeframe needed to prevent the vessel from grounding.

   e. Prioritize and tailor capability for specific operating environments.  An APC request might provide for response capability in a more environmentally sensitive area, deploying limited assets to protect the most sensitive areas, while temporarily gapping the capability for another less sensitive area.  For example, initially protecting a salmon stream while cascading in resources for other less sensitive but affected areas.

5.  Environmental and economic impact assessment.  This section should identify and address  any effects that the APC may have on the local or regional environment and economy via an environmental and/or economic impact assessment.  If applicable, APC requests shall detail why the environmental and economic impacts make the national planning criteria inappropriate and how the proposed APC is more appropriate for the identified location(s) at the time of submission.

   a. Environmental.  The environmental impact should discuss how environmental challenges impact capabilities in meeting all national planning criteria requirements.  As applicable, APC requests shall provide an environmental review that discusses how environmental factors prevent compliance with the national planning criteria and the potential environmental impacts that may result from not meeting applicable NPC requirements.

                 i.             This concise, clear, and to the point, analysis should be supported by any available studies or credible data and should review any and all environmental impacts of not meeting applicable NPC requirements as well as any and all impacts associated with the new course of action.  The information provided should include all relevant water resource impacts to include environmentally sensitive areas (i.e., when on-water tactics are no longer an option and priorities become shoreline assessments, cleanup operations, and protection from additional downstream oiling).

                 ii.             The analysis for environmentally sensitive areas shall include discussions of oil tracking capability; estimates for volumes of oil potentially impacting the shoreline; proposed protection of identified sensitive areas, and other areas of interest identified within applicable Area Contingency Plans.

   b. Economic.  The economic impact is considered to be the cost incurred to fully comply with the national planning criteria requirements.  As applicable, an APC request shall include a detailed cost analysis explaining the financial burden of full compliance and how the APC is a more appropriate and cost effective option for the location(s) identified at time of submission.  The APC request shall also include a detailed strategic plan, which includes strategies and milestones to move toward full compliance with the national planning criteria or permanent equivalences via Area Committees.

                 i.             The plan shall discuss how the APC holder will enhance and invest in additional response resource capability and work towards closing response resource coverage gaps during the period of the approved  APC.

                 ii.             The strategies for closing gaps or seeking an equivalency via the regional Area Committees shall be developed in consultation with the local COTP, Qualified Individuals, Spill Management Teams, and response resource providers (i.e., OSROs) that are listed in the VRP(s) and APC.

                 iii.             In the absence of a long-term or permanent equivalency approved by a regional Area Committee, the Coast Guard expects to see documented progress and dedicated investment in response capabilities during the timeframe of the approved APC.   Degree of investment should focus on tangible improvements in required response resource equipment for identified operating areas.  If renewal of an APC is requested, the Coast Guard will consider the degree of investment in response resource capabilities and milestones achieved during the time period of the previous ACP.


[Federal Register: May 21, 2008 (Volume 73, Number 99)]
[Notices]
[Page 29547-29548]
[DOCID:fr21my08-99]

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SECURITIES AND EXCHANGE COMMISSION

Proposed Collection; Comment Request

Upon written request, copies available from: Securities and Exchange
Commission, Office of Investor Education and Advocacy, Washington, DC
20549-0213.

Extension:
    Form S-4; OMB Control No. 3235-0324; SEC File No. 270-287.

    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.
    Form S-4 (17 CFR 239.25) is the registration form used to register
securities issued in business combination transactions under the
Securities Act of 1933 (15 U.S.C. 77a et seq.). The information
collected is intended to ensure the adequacy of information available
to investors in connection with business combination transactions. Form
S-4 takes approximately 4,064 hours per response to prepare and is
filed by 619 registrants annually. We estimate that 25% of the 4,064
hours per response (1,016 hours) is prepared by the registrant for an
annual reporting burden of 628,904 hours (1,016 hours per response x
619 responses). The remaining 75% of the burden hours is prepared by
outside counsel.
    Written comments are invited on: (a) Whether the 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.
    Please direct your written comments to R. Corey Booth, Director/
Chief Information Officer, Securities and Exchange Commission, C/O
Shirley Martinson, 6432 General Green Way, Alexandria, Virginia 22312;
or send an e-mail to<EMAIL_ADDRESS>
    Dated: May 14, 2008.
Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E8-11280 Filed 5-20-08; 8:45 am]

BILLING CODE 8010-01-P


[Federal Register: May 30, 2008 (Volume 73, Number 105)]
[Notices]
[Page 31177-31179]
[DOCID:fr30my08-102]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-57851; File No. SR-Phlx-2008-38]

Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.;
Notice of Filing and Immediate Effectiveness of a Proposed Rule Change
Relating to Its Payment for Order Flow Pilot Program

May 22, 2008.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on May 19, 2008, the Philadelphia Stock Exchange, Inc. (``Phlx'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been substantially prepared by the
Exchange. Phlx has designated this proposal as one establishing or
changing a due, fee, or other charge imposed by Phlx under Section
19(b)(3)(A)(ii) of the Act \3\ and Rule 19b-4(f)(2) thereunder,\4\
which renders the proposal effective upon filing with the Commission.
The Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \4\ 17 CFR 240.19b-4(f)(2).
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Phlx proposes to extend its payment for order flow pilot
program, which is currently in effect until May 27, 2008, for an
additional one-year period until May 27, 2009. The Exchange also
proposes to make a minor clarifying amendment to the payment for order
flow fee section of the Exchange's fee schedule. Other than extending
the date of the pilot program for an additional year and making the
minor technical amendment to the Exchange's fee schedule, no other
changes to the Exchange's current payment for order flow program are
being proposed at this time.
    The text of the proposed rule change is available at the principal
office of the Exchange, the Commission's Public Reference Room, and
http://www.phlx.com.

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

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

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

1. Purpose
    The Exchange states that the purpose of extending the Exchange's
payment for order flow program for an additional year is to remain
competitive with other

options exchanges that administer payment for order flow programs.\5\
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    \5\ See, e.g., Securities Exchange Act Release Nos. 57094
(January 3, 2008), 73 FR 1653 (January 9, 2008) (SR-CBOE-2007-154);
55895 (June 11, 2007), 72 FR 33549 (June 18, 2007) (SR-ISE-2007-38);
55328 (February 21, 2007), 72 FR 9050 (February 28, 2007) (SR-Amex-
2007-16); and 53341 (February 21, 2006), 71 FR 10085 (February 28,
2006) (SR-Amex-2006-15).
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    Currently, the following payment for order flow fees are in effect
at the Exchange: \6\ (1) Equity options (other than those equity
options that trade as part of the Exchange's Penny Pilot Program),\7\
options on the Russell 2000[supreg] Index \8\ traded under the symbol
RUT, and options on the one-tenth value Russell 2000[supreg] Index
traded under the symbol RMN, are all assessed $0.70 per contract; and
(2) equity options that trade as part of the Exchange's Penny Pilot
Program are assessed $0.25 per contract. Trades resulting from either
Directed \9\ or non-Directed Orders that are delivered electronically
and executed on the Exchange are assessed a payment for order flow
fee,\10\ while non-electronically-delivered orders (i.e., represented
by a floor broker) are not assessed a payment for order flow fee.\11\
Additionally, payment for order flow fees are not assessed on
transactions executed on the Exchange that correspond with an outbound
Linkage Principal Acting as Agent (``P/A'') order.\12\
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    \6\ See, e.g., Securities Exchange Act Release Nos. 53841 (May
19, 2006), 71 FR 30461 (May 26, 2006) (SR-Phlx-2006-33); 54297
(August 9, 2006), 71 FR 47280 (August 16, 2006) (SR-Phlx-2006-47);
54485 (September 22, 2006), 71 FR 57017 (September 28, 2006) (SR-
Phlx-2006-56); 55290 (February 13, 2007), 72 FR 8051 (February 22,
2007) (SR-Phlx-2007-05); 55473 (March 13, 2007), 72 FR 13338 (March
21, 2007) (SR-Phlx-2007-12); and 55891 (June 11, 2007), 72 FR 33271
(June 15, 2007) (SR-Phlx-2007-39).
    \7\ The current Penny Pilot Program, in effect through March 27,
2009, permits certain options series to be quoted and traded in
increments of $0.01. See Securities Exchange Act Release No. 56563
(September 27, 2007), 72 FR 56429 (October 3, 2007) (SR-Phlx-2007-
62).
    \8\ The Exchange states that Russell 2000[supreg] is a trademark
and service mark of the Frank Russell Company, used under license.
Neither Frank Russell Company's publication of the Russell Indexes
nor its licensing of its trademarks for use in connection with
securities or other financial products derived from a Russell Index
in any way suggests or implies a representation or opinion by Frank
Russell Company as to the attractiveness of investment in any
securities or other financial products based upon or derived from
any Russell Index. Frank Russell Company is not the issuer of any
such securities or other financial products and makes no express or
implied warranties of merchantability or fitness for any particular
purpose with respect to any Russell Index or any data included or
reflected therein, nor as to results to be obtained by any person or
any entity from the use of the Russell Index or any data included or
reflected therein.
    \9\ See Securities Exchange Act Release No. 57094 (May 21, 2008)
(SR-Phlx-2008-38) (approving the Exchange's Directed Order Program
on a permanent basis).
    \10\ Specialists and Directed ROTs who participate in the
Exchange's payment for order flow program are assessed a payment for
order flow fee, in addition to ROTs. Therefore, the payment for
order flow fee is assessed, in effect, on equity option transactions
between a customer and an ROT, a customer and a Directed ROT, or a
customer and a specialist.
    \11\ Electronically-delivered orders do not include orders
delivered through the Floor Broker Management System pursuant to
Exchange Rule 1063.
    \12\ See Securities Exchange Act Release No. 57313 (February 12,
2008), 73 FR 9398 (February 20, 2008) (SR-Phlx-2008-10).
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    The Exchange states that the purpose of making the minor technical
amendment to the payment for order flow section of the Exchange's fee
schedule is to clarify that options on QQQQ are part of the Penny Pilot
Program.\13\
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    \13\ See Securities Exchange Act Release No. 56563 (September
27, 2007), 72 FR 56429 (October 3, 2007) (SR-Phlx-2007-62).
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    This proposal is scheduled to remain in effect as a pilot program
until May 27, 2009.
2. Statutory Basis
    The Exchange believes that its proposal to amend its schedule of
fees is consistent with Section 6(b) of the Act \14\ in general, and
furthers the objectives of Section 6(b)(4) of the Act \15\ in
particular, in that it is an equitable allocation of reasonable fees
and other charges among Exchange members. In particular, the Exchange
believes that continuing the payment for order flow program should
allow the Exchange to remain competitive, which should in turn, benefit
the Exchange members who are assessed the payment for order flow fee.
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    \14\ 15 U.S.C. 78f(b).
    \15\ 15 U.S.C. 78f(b)(4).
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B. Self-Regulatory Organization's Statement on Burden on Competition

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

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

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

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

    The foregoing proposed rule change has been designated as a fee
change pursuant to Section 19(b)(3)(A)(ii) of the Act \16\ and Rule
19b-4(f)(2) \17\ thereunder, because it establishes or changes a due,
fee, or other charge imposed by the Exchange. Accordingly, the proposal
will take effect upon filing with the Commission. At any time within 60
days of the filing of such proposed rule change the Commission may
summarily abrogate 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.
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    \16\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \17\ 17 CFR 240.19b-4(f)(2).
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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 e-mail to<EMAIL_ADDRESS>Please include
File Number SR-Phlx-2008-38 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-Phlx-2008-38. This file
number should be included on the subject line if e-mail is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/
sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for inspection and
copying in the Commission's Public Reference Room, 100 F Street, NE.,
Washington, DC 20549, on official business days between the hours of 10
a.m. and 3 p.m.

Copies of such filing also will be available for inspection and copying
at the principal office of the Exchange. All comments received will be
posted without change; the Commission does not edit personal
identifying information from submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-Phlx-2008-38 and should be submitted on
or before June 20, 2008.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\18\
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    \18\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E8-12110 Filed 5-29-08; 8:45 am]

BILLING CODE 8010-01-P