[Federal Register Volume 83, Number 9 (Friday, January 12, 2018)]
[Notices]
[Pages 1636-1639]
[FR Doc No: 2018-00409]

=======================================================================
-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-82458; File No. SR-ISE-2017-111]

Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing
of Proposed Rule Change To Establish a Nonstandard Expirations Pilot
Program

January 8, 2018.
    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 December 21, 2017, Nasdaq ISE, LLC (``ISE'' or ``Exchange'') filed
with the Securities and Exchange Commission (``SEC'' or ``Commission'')
the proposed rule change as described in Items I, II, and III, below,
which Items have been prepared by the Exchange. The Commission is
publishing this notice to solicit comments on the proposed rule change
from interested persons.
---------------------------------------------------------------------------

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

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

    The Exchange proposes to establish a Nonstandard Expirations Pilot
Program on a pilot basis, for an initial period of twelve months from
the date of approval of this proposed rule change.
    The text of the proposed rule change is available on the Exchange's
website at http://ise.cchwallstreet.com/, at the principal office of
the Exchange, and at the Commission's Public Reference Room.

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

    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. The Exchange 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 the
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The purpose of this rule filing is to add new Supplementary
Material .07 to ISE Rule 2009, Terms of Index Options Contracts, to
permit the listing and trading, on a pilot basis, of p.m.-settled
options on broad-based indexes with nonstandard expiration dates for an
initial period of twelve months (the ``Nonstandard Expirations Pilot
Program'' or ``Pilot Program'') from the date of approval of this
proposed rule change. The Pilot Program would permit both weekly
expirations (``Weekly Expirations'') and end of month (``EOM'')
expirations as explained below. Contract terms for the Weekly
Expirations and EOM expirations will be similar to those of the a.m.
settled broad-based index options, except that the exercise settlement
value will be based on the index value derived from the closing prices
of component stocks.
Weekly Expirations
    The Exchange proposes to add new Supplementary Material .07(a),
Weekly Expirations, to Rule 2009. Under the proposed new rule the
Exchange would be permitted to open for trading Weekly Expirations on
any broad-based index eligible for standard options trading to expire
on any Monday, Wednesday, or Friday (other than the third Friday-of-
the-month or days that coincide with an EOM expiration).
    The maximum number of expirations that could be listed for each
Weekly Expiration (i.e., a Monday expiration, Wednesday expiration, or
Friday expiration, as applicable) in a given class would be the same as
the maximum number of expirations permitted for standard options on the
same broad-based index. Weekly Expirations would not need to be for
consecutive Monday, Wednesday, or Friday expirations as applicable.
However, the expiration date of a non-consecutive expiration would not
be permitted beyond what would be considered the last expiration date
if the maximum number of expirations were listed consecutively.
    Weekly Expirations that are first listed in a given class could
expire up to four weeks from the actual listing date. If the last
trading day of a month were a Monday, Wednesday, or Friday and the
Exchange were to list EOMs and Weekly Expirations as applicable in a
given class, the Exchange would list an EOM instead of a Weekly
Expiration in the given class. Other expirations in the same class
would not be counted as part of the maximum number of Weekly
Expirations for a broad-based index class. If the Exchange were not
open for business on a respective Monday, the normally Monday expiring
Weekly Expirations would expire on the following business day. If the
Exchange were not open for business on a respective Wednesday or
Friday, the normally Wednesday or Friday expiring Weekly Expirations
would expire on the previous business day.
End of Month (``EOM'') Expirations
    Pursuant to proposed ISE Rule 2009 Supplementary Material .07(b),
End of Month (``EOM'') Expirations, the Exchange could open for trading
EOMs on any broad-based index eligible for standard options trading to
expire on last trading day of the month. EOMs would be subject to all
provisions of Rule 2009 and treated the same as options on the same
underlying index that expire on the third Friday of the expiration
month. However, the EOMs would be P.M.-settled and new series in EOMs
could be added up to and including on the expiration date for an
expiring EOM.
    The maximum number of expirations that could be listed for EOMs in
a given class would be the same as the maximum number of expirations
permitted for standard options on the same broad-based index. EOM
expirations would not need to be for consecutive end of month
expirations. However, the expiration date of a non-consecutive
expiration may not be beyond what would be considered the last
expiration date if the maximum number of expirations were listed
consecutively. EOMs that are first listed in a given class could expire
up to four weeks from the actual listing date. Other expirations would
not be counted as part of the maximum numbers of EOM expirations for a
broad-based index class.
Contract Terms Trading Rules
    Weekly Expirations and EOMs would be subject to the same rules that
currently govern the trading of standard monthly broad-based index
options, including sales practice rules, margin requirements, and floor
trading procedures. Contract terms for Weekly Expirations and EOMs
would be the same as those for standard monthly broad-based index
options. Since Weekly Expirations and EOMs will be a new type of
series, and not a new class, the Exchange proposes that Weekly
Expirations and EOMs shall be aggregated for any applicable reporting
and other requirements.\3\ Pursuant to proposed new Supplementary
Material .07(d) of Rule 2009, transactions in Weekly Expirations and
EOMs could be effected on the Exchange between the hours of 9:30 a.m.
(Eastern Time) and 4:15 p.m. (Eastern Time).
---------------------------------------------------------------------------

    \3\ See Rule 2006(a)(13) which sets forth the reporting
requirements for certain market indexes that do not have position
limits, including NDX. The Exchange is adding Nonstandard
Expirations to Rule 2004(d) to reflect the aggregation requirement.
The Exchange notes that the proposed aggregation is consistent with
the aggregation requirements for other types of option series (e.g.
quarterly expiring options) that are listed on the Exchange and
which do not expires on the customary ``third Friday''.
---------------------------------------------------------------------------

    The Exchange has analyzed its capacity and represents that it
believes the Exchange and the Options Price Reporting Authority
(``OPRA'') have the necessary systems capacity to handle any additional
traffic associated with the listing of the maximum number

nonstandard expirations permitted under the Pilot.
Pilot Program
    As stated above, this proposal is to establish a Nonstandard
Expirations Pilot Program for broad-based index options on a pilot
basis, for an initial period of twelve months from the date of approval
of this proposed rule change. If the Exchange were to propose an
extension of the Pilot or should the Exchange propose to make the Pilot
permanent, the Exchange would submit a filing proposing such amendments
to the Pilot.
    Further, any positions established under the Pilot would not be
impacted by the expiration of the Pilot. For example, if the Exchange
lists a Weekly Expiration or EOM that expires after the Pilot expires
(and is not extended) then those positions would continue to exist.
However, any further trading in those series would be restricted to
transactions where at least one side of the trade is a closing
transaction.
    As part of the Pilot, the Exchange will submit a Pilot report to
the Commission at least two months prior to the expiration date of the
Pilot (the ``annual report''). The annual report will contain an
analysis of volume, open interest and trading patterns. In addition,
for series that exceed certain minimum open interest parameters, the
annual report will provide analysis of index price volatility and, if
needed, share trading activity. The annual report will be provided to
the Commission on a confidential basis.
Analysis of Volume and Open Interest
    For all Weekly Expirations and EOM series, the annual report will
contain the following volume and open interest data for each broad-
based index overlying Weekly Expiration and EOM options:
    (1) Monthly volume aggregated for all Weekly Expiration and EOM
series,
    (2) Volume in Weekly Expiration and EOM series aggregated by
expiration date,
    (3) Month-end open interest aggregated for all Weekly Expiration
and EOM series,
    (4) Month-end open interest for EOM series aggregated by expiration
date and open interest for Weekly Expiration series aggregated by
expiration date,
    (5) Ratio of monthly aggregate volume in Weekly Expiration and EOM
series to total monthly class volume, and
    (6) Ratio of month-end open interest in EOM series to total month-
end class open interest and ratio of open interest in each Weekly
Expiration series to total class open interest.
    In addition, the annual report will contain the information noted
above for standard Expiration Friday, AM-settled series, if applicable,
for the period covered in the pilot report as well as for the six-month
period prior to the initiation of the pilot.
    Upon request by the SEC, the Exchange will provide a data file
containing: (1) Weekly Expiration and EOM option volume data aggregated
by series, and (2) Weekly Expiration open interest for each expiring
series and EOM month-end open interest for expiring series.
Monthly Analysis of Weekly Expiration and EOM Trading Patterns
    In the annual report, the Exchange also proposes to identify Weekly
Expiration and EOM trading patterns by undertaking a time series
analysis of open interest in Weekly Expiration and EOM series
aggregated by expiration date compared to open interest in near-term
standard Expiration Friday A.M.-settled series in order to determine
whether users are shifting positions from standard series to Weekly
Expiration and EOM series. In addition, to the extent that data on
other weekly or monthly P.M. settled products from other exchanges is
publicly available, the report will also compare open interest with
these options in order to determine whether users are shifting
positions from other weekly or monthly P.M. settled products to the
Weekly Expiration and EOM series. Declining open interest in standard
series or the weekly or monthly P.M.-settled products of other
exchanges accompanied by rising open interest in Weekly Expiration and
EOM series would suggest that users are shifting positions.
Provisional Analysis of Index Price Volatility and Share Trading
Activity
    For each Weekly Expiration and EOM expiration that has open
interest that exceeds certain minimum thresholds, the annual report
will contain the following analysis related to index price changes and,
if needed, underlying share trading volume at the close on expiration
dates:
    (1) A comparison of index price changes at the close of trading on
a given expiration date with comparable price changes from a control
sample. The data will include a calculation of percentage price changes
for various time intervals and compare that information to the
respective control sample. Raw percentage price change data as well as
percentage price change data normalized for prevailing market
volatility, as measured by an appropriate index agreed by the
Commission and the Exchange, will be provided; and
    (2) if needed, a calculation of share volume for a sample set of
the component securities representing an upper limit on share trading
that could be attributable to expiring in-the-money Weekly Expiration
and EOM expirations. The data, if needed, will include a comparison of
the calculated share volume for securities in the sample set to the
average daily trading volumes of those securities over a sample period.
    The minimum open interest parameters, control sample, time
intervals, method for selecting the component securities, and sample
periods will be determined by the Exchange and the Commission.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\4\ in general, and furthers the objectives of Section
6(b)(5) of the Act,\5\ in particular, in that it is designed to promote
just and equitable principles of trade, to remove impediments to and
perfect the mechanism of a free and open market and a national market
system, and, in general to protect investors and the public interest,
by expanding the ability of investors to hedge risks against market
movements stemming from economic releases or market events that occur
during the month and at the end of the month. Accordingly, the Exchange
believes that weekly expirations and EOMs should create greater trading
and hedging opportunities and flexibility, and provide customers with
the ability to more closely tailor their investment objectives.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78f(b).
    \5\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

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. Specifically, the Exchange does
not believe the proposal will impose any burden on intramarket
competition as all market participants will be treated in the same
manner with respect to Weekly Expirations and EOMs. Additionally, the
Exchange does not believe the proposal will impose any burden on
intermarket competition as market participants are welcome to become
members and trade at ISE if they determine that this proposed rule

change has made ISE more attractive or favorable. Finally, all options
exchanges are free to compete by listing and trading their own broad-
based index options with weekly or end of month expirations.

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

    No written comments were either solicited or received.

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

    Within 45 days of the date of publication of this notice in the
Federal Register or within such longer period (i) as the Commission may
designate up to 90 days of such date if it finds such longer period to
be appropriate and publishes its reasons for so finding or (ii) as to
which the Exchange consents, the Commission shall: (a) By order approve
or disapprove such proposed rule change, or (b) institute proceedings
to determine whether the proposed rule change should be disapproved.

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. In particular, the Commission
solicits comment on the following:
     Will the pilot data contemplated in this notice allow the
Commission to determine whether the weekly and monthly PM-settled
options proposed in this filing have adverse effects on market
volatility and the operation of fair and orderly markets in the
underlying cash market?
     Will the pilot data contemplated in this notice allow the
Commission to determine whether the weekly and monthly PM-settled
options proposed in this filing have adverse effects on liquidity,
volume, open interest, trading patterns, and volatility in other option
contracts with standard expirations?
     Will the pilot data contemplated in this notice allow the
Commission to determine whether the weekly and monthly PM-settled
options proposed in this filing have adverse effects on index price
volatility?
     Will the weekly and monthly PM-settled options proposed in
this filing affect the market for options contracts with nonstandard
expirations offered by CBOE and Phlx? If so, how? In addition, how
would this proposal affect the data and information related to
nonstandard expirations that are provided by CBOE and Phlx?
     What concerns do market participants have related to the
proposed Nonstandard Expirations Pilot Program? If any, please be
specific in describing your concerns. If any, will the pilot data
contemplated in this notice allow the Commission to examine whether the
concerns are valid?
    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 Number SR-ISE-2017-111 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 Number SR-ISE-2017-111. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (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 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 filing also will be available for inspection
and copying at the principal office of the Exchange. 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 Number SR-ISE-2017-111, and should be submitted on
or before February 2, 2018.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\6\
---------------------------------------------------------------------------

    \6\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-00409 Filed 1-11-18; 8:45 am]
BILLING CODE 8011-01-P


1 Introductory Script (** = change slide)

Slide 1 ** Slide 2: " This survey is funded by the United States Environmental Protection Agency, or EPA. Its purpose is to determine whether people like you would support new policies to protect fish stocks in Northeast US waters. Protecting fish is only one of many important issues that people might care about. As the government considers these new policies, it is important to obtain feedback from the public." ** Slide 3: " This presentation provides background information that may be useful as you complete the survey. This information highlights the pros and cons of the proposed policy options, so that you can make more informed choices." ** Slide 4: " Northeast fresh and salt waters support billions of fish." ** Slide 5: " These include fish that are used for recreational and commercial fishing " ** Slide 6: " as well as other fish that are not used by humans, but are a part of the larger ecological system." ** Slide 7: " Natural factors such as weather have always influenced fish stocks in Northeast waters." ** Slide 8: " In recent years, however, human activities have had an increasing effect on fish stocks. These activities include commercial and recreational fishing, pollution, the development of waterfront areas, the loss of habitat, and the use of cooling water in commercial facilities." ** Slide 9: " Many fish stocks have been declining in recent decades. These declines affect natural ecosystem functions, as well as human uses of these ecosystems." ** Slide 10: " This survey concerns proposed policies that would reduce fish losses caused by one type of human activity   the use of cooling water by commercial facilities." ** Slide 11: " Many types of facilities use water to cool equipment and machinery. These facilities produce products and services that we use every day, including paper products, energy and power, and other common goods. The largest amount of cooling water is used by power plants that produce electricity." ** Slide 12: " While these facilities provide valued products to US households, they also use large amounts of water in their cooling systems. This water is usually pumped from coastal waters, rivers, and lakes. The equipment that pumps the water kills small fish and fish eggs. Larger aquatic organisms may also be pinned against screens or filters, and either injured or killed." ** Slide 13: " Facilities that use cooling water are located in all Northeastern States. This map shows the locations of major facilities in the Northeast that withdraw cooling water in ways that harm fish. Common sense indicates that effects on fish will be greater in areas closer to these 2 facilities, and smaller in areas that are further away. For the sake of simplicity, this presentation discusses average effects across all affected water bodies." ** Slide 14: " Many types of fresh and salt water fish are affected by cooling water use." ** Slide 15: " About 1/ 3 of affected fish are types caught by commercial and recreational fishermen. These include such species as striped bass, flounder, Atlantic cod, weakfish, freshwater bass, trout, and many others." ** Slide 16: " About 2/ 3 of affected fish are fish that are not directly used by humans. These include killifish, sticklebacks, minnows, shiners and many others." ** Slide 17: " There are many billions of fish that are not directly used by humans in Northeast waters. However, the exact size of total fish stocks for these species is not known." ** Slide 18: " Even if not harmed in cooling water intakes, only a small portion of fish eggs and larvae survive and grow into adult fish. After accounting for the number of eggs and larvae that would be expected to survive to adulthood, scientists estimate that the equivalent of about 1.8 billion young adult fish is lost each year in the Northeast region." ** Slide 19: " For example, about 1.8 million striped bass are lost in cooling water intakes in the Northeast region, compared to an annual commercial and recreational harvest of 12.7 million fish, and a total adult stock of about 44 million fish, in that region. In another example, about 8.6 million winter flounder are lost each year in the Northeast region, compared to an annual harvest of 12.8 million fish, and a total adult stock of 42 million fish. Information is also known about losses of other recreational and commercial species, and about losses of forage fish without direct human uses. However, little information is known about the size of the stocks of many of these species." [ NOTE: Cells marked " To Be Determined" will be completed when modeling data is available.] ** Slide 20: " It is important to recognize that the effects of fish losses from cooling water use are usually smaller than the effects of commercial fishing. Even though cooling water use is not the largest cause of fish losses in many areas, it has contributed to a measurable decline in some fish stocks, in some locations." ** Slide 21: " The government is considering new policies that would reduce fish losses, by requiring new technologies in facilities that use water for cooling. The example on this slide shows a cooling water intake structure with a screen that has finely spaced openings that filter out adult fish, juveniles, and eggs. The pipe has an airburst system that is used to clean debris, silt, and aquatic organisms off the screen." ** Slide 22: " Different levels of technology could be required, ranging from advanced filters to closed cycle cooling." ** 3 Slide 23: " Less expensive technologies can block many fish from entering cooling water facilities. Requiring such technologies can reduce fish losses about 25%. This would save about 450 million young adult fish per year." ** Slide 24: " More expensive technologies such as closed cycle cooling towers can almost eliminate the need for outside cooling water. Requiring these technologies could reduce fish losses by up to 98%. This translates to about 1.7 billion young adult fish that would be saved, per year." ** Slide 25: " Technologies such as these are already in use at 52% of facilities that use cooling water. Scientists' estimates of the effects of the proposed policies are based on measurements at these facilities. The proposed policies would require similar technologies at all facilities that use cooling water." ** Slide 26: " While these policies would reduce fish losses, they would also increase the production costs of commercial facilities. While a significant proportion of these costs would be absorbed by the facility owners and investors, it is unavoidable that some would be passed on to consumers. This would increase the cost of living for all Northeast households, including yours. ** Slide 27: " This is why you have received this survey. The government must decide whether to require new technology to protect fish. Before moving forward with these regulations, EPA needs to know whether US households are willing to pay the costs that would be required." ** Slide 28: " By answering this survey, you will help the government decide which policies will be enacted, if any." ** Slide 29: " This survey is similar to a public vote. It asks you to compare policies with different effects on fish and different costs to your household. You are then asked to vote for the policies you prefer, if any." ** Slide 30: " You will be shown different policy options   with different effects on fish. This is because scientists are still working to determine what the exact effect on fish will be, so it is important to know how you would react to a wide range of possible outcomes. Common sense indicates that preventing the loss of fish eggs and young fish will mean more adult fish in future years, but at this point there is still significant uncertainty regarding the exact size of these future effects." ** Slide 31: " You may choose policies that are more expensive, but save more fish   or policies that save fewer fish, but are less expensive. You may also choose to reject all the proposed policies   and maintain the status quo." ** Slide 32: " There are no wrong answers to these questions   it all comes down to the tradeoffs that you are willing to make." ** Slide 33: " The survey describes policies based on the expected reduction in annual fish losses," ** 4 Slide 34: " long term effects on fish populations," ** Slide 35: " anticipated effect on recreational and commercial fishing, and " ** Slide 36: " the estimated cost to your household." ** Slide 37: " The survey uses a 0 to 100 scale to show expected long term effects on fish populations. This is the best estimate as to what will happen to average fish stocks, across all species, after 3 5 years of new policies." ** Slide 38: " A 100 on this scale represents maximum historical fish levels. It is the maximum possible population of fish that may be supported by waters in the Northeast." ** Slide 39: " A score of 0 would represent an ecosystem with no fish at all." ** Slide 40: " For purposes of this survey, please assume that current fish populations are at 60% on this scale. This is the status quo of fish stocks with no policy changes, and is the result of a wide range of past human activities that have caused fish stocks to decline over time." ** Slide 41: " Over 3 5 years, the proposed policies may increase fish populations to between 60 and 75% on this scale. These increases will occur in all Northeast fresh and salt waters affected by cooling water use." ** Slide 42: " Effects on commercial and recreational catch may also vary according to the types of policies used." ** Slide 43: " These effects are also shown on a 0 to 100 scale, where 0 is no catch at all, and 100 is the catch level that was realized in 1950. Today, because of fishing, pollution, cooling water use, and other factors, average catch levels are at about a 50 on this scale. This is the status quo of harvest with no policy changes." ** Slide 44: " As a result of the proposed policies, average catch may increase to between 50 and 65% on the scale. Effects on catch will usually be smaller than effects on total fish populations, because many of the fish that would be saved by these policies are not harvested by humans." ** Slide 45: " Keep in mind that some types of policies may protect more total fish, while others may be better at protecting types of fish caught by fishermen. Also, these are the effects on population and harvest that are possible given current water quality in the Northeast." ** Slide 46: " For each pair of policies, you are asked to vote for the one that you prefer," ** Slide 47: " if any, by checking the appropriate box." ** Slide 48 ** Slide 49: " If you do not support either policy, you may also indicate this in the appropriate box." 5 ** Slide 50: " You will be shown three different questions, each with a different set of policies to compare. This is so that EPA may obtain your votes for a variety of different policy options." ** Slide 51: " When making your choice, remember that protecting fish from cooling water intakes is only one of many environmental problems. You would actually have to pay the indicated amounts if regulations are enacted, and this money would no longer be available for your household expenses or for any other use." ** Slide 52: " When considering these policies, you should only consider effects on fish and the cost to your household. This is because scientists expect no other significant environmental or economic impacts, other than those described in the survey. It is also important to recognize that these policies will have no effect on taxes paid by your household." ** Slide 53: " This survey asks you to make important choices, even though some information is not known to scientists. For example, there is no way to know the exact effect of these new policies on the fishing industry. Even so, the government will be making its final decision by June 2006. The results of this study will be used by EPA to assess the value of the proposed policies to the public, and will also be posted on EPA's website. Your responses to this survey will make a difference." ** Slide 54: " Because your answers will influence real policy changes, it is critical that you answer all questions the same way that you would if this were a real, binding vote. Your opinion is important, whether you choose to support or oppose the proposed policies." ** Slide 55: " When voting in this survey, please consider each pair of policy options separately." ** Slide 56: " Do not add up or compare policy options across different pages. Remember, there are no wrong answers, and " ** Slide 57: " please be assured that all your responses are anonymous and strictly confidential." ** Slide 58: " Now, before you answer the survey questions, there are a few very important things that need to be emphasized. First, sometimes people taking this survey imagine that the policies being discussed affect such things as water quality, pollution, or other environmental problems. They will not. The only significant environmental effect of these regulations is on the quantity of fish in the water. There are no other significant effects on the environment." ** Slide 59: " Second, there are no hidden agendas or tricks to these questions. EPA really does want to know your values for these types of policies. We are not trying to sell you anything, or convince you that any policies are a good or bad idea   we honestly want to know your opinion." ** Slide 60: " Third, if these policies are enacted, costs will be passed on to you by facilities, as described in the survey. This is real money that you will have to pay, so it is important that you consider the costs carefully. However, it is also important to realize that these are NOT new taxes   and we are NOT talking about funding a new government program." 6 ** Slide 61: " Finally, thank you very much for your participation in this important survey."


[Federal Register Volume 82, Number 84 (Wednesday, May 3, 2017)]
[Proposed Rules]
[Pages 20554-20555]
[FR Doc No: 2017-08856]

========================================================================
Proposed Rules
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains notices to the public of
the proposed issuance of rules and regulations. The purpose of these
notices is to give interested persons an opportunity to participate in
the rule making prior to the adoption of the final rules.

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

Federal Register / Vol. 82, No. 84 / Wednesday, May 3, 2017 /
Proposed Rules

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Docket No. FAA-2017-0232; Airspace Docket No. 17-AGL-11]

Proposed Amendment of Class D and E Airspace: Battle Creek, MI

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice of proposed rulemaking (NPRM).

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

SUMMARY: This action proposes to modify Class D airspace, and Class E
airspace designated as an extension at W.K. Kellogg Airport (formerly
W.K. Kellogg Field), Battle Creek, MI. Airspace reconfiguration is
necessary due to the decommissioning of the Battle Creek VHF
Omnidirectional Range Collocated Tactical Air Navigation System
(VORTAC), and cancellation of the VOR approaches. Class E airspace
extending upward from 700 feet above the surface also would be amended
due to the redesign of the Instrument Landing System (ILS) approach,
thereby removing reference to the BATOL navigation aid and Battle Creek
ILS localizer. This action would also update the geographic coordinates
of the airport, as well as make an editorial change replacing Airport/
Facility Directory with the term Chart Supplement in the associated
Class D and E airspace areas.

DATES: Comments must be received on or before June 19, 2017.

ADDRESSES: Send comments on this proposal to the U.S. Department of
Transportation, Docket Operations, West Building Ground Floor, Room
W12-140, 1200 New Jersey Avenue SE., Washington, DC 20590; telephone
(202) 366-9826, or 1-800-647-5527. You must identify FAA Docket No.
FAA-2017-0232; Airspace Docket No. 17-AGL-11, at the beginning of your
comments. You may also submit comments through the Internet at http://www.regulations.gov.
    FAA Order 7400.11A, Airspace Designations and Reporting Points, and
subsequent amendments can be viewed online at http://www.faa.gov/air_traffic/publications/. For further information, you can contact the
Airspace Policy Group, Federal Aviation Administration, 800
Independence Avenue SW., Washington, DC 20591; telephone:<PHONE_NUMBER>.
The Order is also available for inspection at the National Archives and
Records Administration (NARA). For information on the availability of
FAA Order 7400.11A at NARA, call<PHONE_NUMBER>, or go to http://www.archives.gov/federal_register/code_of_federal-regulations/ibr_locations.html.
    FAA Order 7400.11, Airspace Designations and Reporting Points, is
published yearly and effective on September 15.

FOR FURTHER INFORMATION CONTACT: Ron Laster, Federal Aviation
Administration, Contract Support, Operations Support Group, Central
Service Center, 10101 Hillwood Parkway, Fort Worth, TX 76177; telephone
(817) 222-5879.

SUPPLEMENTARY INFORMATION:

Authority for This Rulemaking

    The FAA's authority to issue rules regarding aviation safety is
found in Title 49 of the United States Code. Subtitle I, Section 106
describes the authority of the FAA Administrator. Subtitle VII,
Aviation Programs, describes in more detail the scope of the agency's
authority. This rulemaking is promulgated under the authority described
in Subtitle VII, part, A, subpart I, Section 40103. Under that section,
the FAA is charged with prescribing regulations to assign the use of
airspace necessary to ensure the safety of aircraft and the efficient
use of airspace. This regulation is within the scope of that authority
as it would amend Class D airspace, Class E extension area airspace and
Class E airspace extending upward 700 feet above the surface at W.K.
Kellogg Airport, Battle Creek, MI.

Comments Invited

    Interested parties are invited to participate in this proposed
rulemaking by submitting such written data, views, or arguments, as
they may desire. Comments that provide the factual basis supporting the
views and suggestions presented are particularly helpful in developing
reasoned regulatory decisions on the proposal. Comments are
specifically invited on the overall regulatory, aeronautical, economic,
environmental, and energy-related aspects of the proposal.
Communications should identify both docket numbers and be submitted in
triplicate to the address listed above. Commenters wishing the FAA to
acknowledge receipt of their comments on this notice must submit with
those comments a self-addressed, stamped postcard on which the
following statement is made: ``Comments to Docket No. FAA-2017-0232/
Airspace Docket No. 17-AGL-11.'' The postcard will be date/time stamped
and returned to the commenter.

Availability of NPRMs

    An electronic copy of this document may be downloaded through the
Internet at http://www.regulations.gov. Recently published rulemaking
documents can also be accessed through the FAA's Web page at http://www.regulations.gov.
    You may review the public docket containing the proposal, any
comments received, and any final disposition in person in the Dockets
Office (see the ADDRESSES section for the address and phone number)
between 9:00 a.m. and 5:00 p.m., Monday through Friday, except federal
holidays. An informal docket may also be examined during normal
business hours at the Federal Aviation Administration, Air Traffic
Organization, Central Service Center, Operations Support Group, 10101
Hillwood Parkway, Fort Worth, TX 76177.
    All communications received before the specified closing date for
comments will be considered before taking action on the proposed rule.
The proposal contained in this notice may be changed in light of the
comments received. A report summarizing each substantive public contact
with FAA personnel concerned with this rulemaking will be filed in the
docket.

Availability and Summary of Documents Proposed for Incorporation by
Reference

    This document proposes to amend FAA Order 7400.11A, Airspace
Designations and Reporting Points, dated August 3, 2016, and effective

September 15, 2016. FAA Order 7400.11A is publicly available as listed
in the ADDRESSES section of this document. FAA Order 7400.11A lists
Class A, B, C, D, and E airspace areas, air traffic service routes, and
reporting points.

The Proposal

    The FAA is proposing an amendment to Title 14 Code of Federal
Regulations (14 CFR) part 71 by amending Class D airspace, Class E
airspace designated as an extension, and Class E Airspace extending
upward from 700 feet above the surface at W.K. Kellogg Airport
(formerly W.K. Kellogg Field), Battle Creek, MI.
    The airport name change to W.K. Kellogg Airport from W.K. Kellogg
Field and the airport's geographic coordinates would be amended in the
associated Class D and Class E airspace listed in this proposal.
    Class E extension area airspace would be amended by removing the
Battle Creek VORTAC from the airspace description due to its
decommissioning.
    Also, Class E airspace extending upward from 700 feet above the
surface would be amended by removing the southwest segment, and the
segment 7 miles northwest and 4.4 miles southeast of the Battle Creek
ILS localizer northeast course extending 10.4 miles northeast of the
localizer outer marker/nondirectional radio beacon. The northeast
segment would be amended to within 2 miles each side of the 047[deg]
bearing (from 4 miles each side of the 049[deg] bearing) from the
airport extending from 7-mile radius of the airport to 10 miles
northeast (from 10.9 miles) of the airport, and southeast segment would
be amended to within 2 miles each side of the 126[deg] bearing from the
airport extending from the 7-mile radius to 7.4 miles (from 11.1 miles)
southeast of the airport. This action would enhance the safety and
management of the standard instrument approach procedures for IFR
operations at the airport. Additionally, this action would amend Class
E airspace extending upward from 700 feet above the surface by removing
reference to the BATOL navigation aid and Battle Creek ILS localizer.
This action would enhance the safety and management of the standard
instrument approach procedures for IFR operations at the airport.
    Lastly, this action would replace the outdated term Airport/
Facility directory with the term Chart Supplement.
    Class D and E airspace designations are published in paragraph
5000, 6004 and 6005, respectively, of FAA Order 7400.11A, dated August
3, 2016, and effective September 15, 2016, which is incorporated by
reference in 14 CFR 71.1. The Class E airspace designations listed in
this document will be published subsequently in the Order.

Regulatory Notices and Analyses

    The FAA has determined that this regulation only involves an
established body of technical regulations for which frequent and
routine amendments are necessary to keep them operationally current, is
non-controversial and unlikely to result in adverse or negative
comments. It, therefore: (1) Is not a ``significant regulatory action''
under Executive Order 12866; (2) is not a ``significant rule'' under
DOT Regulatory Policies and Procedures (44 FR 11034; February 26,
1979); and (3) does not warrant preparation of a regulatory evaluation
as the anticipated impact is so minimal. Since this is a routine matter
that will only affect air traffic procedures and air navigation, it is
certified that this rule, when promulgated, would not have a
significant economic impact on a substantial number of small entities
under the criteria of the Regulatory Flexibility Act.

Environmental Review

    This proposal will be subject to an environmental analysis in
accordance with FAA Order 1050.1F, ``Environmental Impacts: Policies
and Procedures'' prior to any FAA final regulatory action.

List of Subjects in 14 CFR Part 71

    Airspace, Incorporation by reference, Navigation (air).

The Proposed Amendment

    Accordingly, pursuant to the authority delegated to me, the Federal
Aviation Administration proposes to amend 14 CFR part 71 as follows:

PART 71--DESIGNATION OF CLASS A, B, C, D, AND E AIRSPACE AREAS; AIR
TRAFFIC SERVICE ROUTES; AND REPORTING POINTS

0
1. The authority citation for 14 CFR part 71 continues to read as
follows:

    Authority: 49 U.S.C. 106(f), 106(g); 40103, 40113, 40120; E.O.
10854, 24 FR 9565, 3 CFR, 1959-1963 Comp., p. 389.

Sec.  71.1  [Amended]

0
2. The incorporation by reference in 14 CFR 71.1 of FAA Order 7400.11A,
Airspace Designations and Reporting Points, dated August 3, 2016, and
effective September 15, 2016, is amended as follows:
* * * * *

Paragraph 5000 Class D Airspace Areas.

AGL MI D Battle Creek, MI [Amended]

Battle Creek, W.K. Kellogg Airport, MI
    (Lat. 42[deg]18'23'' N., long. 85[deg]15'00'' W.)

    That airspace extending upward from the surface to and including
3,500 feet MSL within a 4.5-mile radius of W.K. Kellogg Airport.
This Class D airspace area is effective during the specific dates
and times established in advance by a Notice to Airmen. The
effective dates and times will thereafter be continuously published
in the Chart Supplement.
* * * * *

Paragraph 6004 Class E Airspace Areas Designated as an Extension to
a Class D or Class E Surface Area.

* * * * *

AGL MI E4 Battle Creek, MI [Amended]

Battle Creek, W.K. Kellogg Airport, MI
    (Lat. 42[deg]18'23'' N., long. 85[deg]15'00'' W.)

    That airspace extending upward from the surface within the 4.5-
mile radius of W.K. Kellogg Airport. This Class E airspace area is
effective during the specific dates and times established in advance
by a Notice to Airmen. The effective dates and times will thereafter
be continuously published in the Chart Supplement.
* * * * *

Paragraph 6005 Class E Airspace Areas Extending Upward From 700
Feet or More Above the Surface of the Earth.

* * * * *

AGL MI E5 Battle Creek, MI [Amended]

Battle Creek, W.K. Kellogg Airport, MI
    (Lat. 42[deg]18'23'' N., long. 85[deg]15'00'' W.)

    That airspace extending upward from 700 feet above the surface
within a 7-mile radius of W.K. Kellogg Airport, and within 2 miles
each side of the 047[deg] bearing from the airport extending from
the 7-mile radius to 10 miles northeast of the airport, and within 2
miles each side of the 126[deg] bearing from the airport extending
from the 7-mile radius to 7.4 miles southeast of the airport.

    Issued in Fort Worth, Texas on April 25, 2017.
Walter Tweedy,
Acting Manager, Operations Support Group, ATO Central Service Center.
[FR Doc. 2017-08856 Filed 5-2-17; 8:45 am]
 BILLING CODE 4910-13-P


[Federal Register Volume 81, Number 45 (Tuesday, March 8, 2016)]
[Notices]
[Pages 12160-12162]
[FR Doc No: 2016-05123]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-77283; File No. SR-Phlx-2016-30]

Self-Regulatory Organizations; NASDAQ PHLX LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Amend the
Pricing Schedule

March 3, 2016.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on February 26, 2016, NASDAQ PHLX LLC (``Phlx'' or the ``Exchange'')
filed with the Securities and Exchange Commission (``Commission'') the
proposed rule change as described in Items I and II below, which Items
have been prepared by the Exchange. The Commission is publishing this
notice to solicit comments on the proposed rule change from interested
persons.
---------------------------------------------------------------------------

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

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

    The Exchange proposes to amend the Exchange's Pricing Schedule to
update the Pricing Schedule in various ways, (1) remove unnecessary
rule text and footnotes; (2) update names of Nasdaq exchanges to
reflect a recent name change; (3) update the current definitions to add
detail and rearrange rule text; and (4) rename the Payment for Order
Flow Fee.
    The text of the proposed rule change is available on the Exchange's
Web site at http://nasdaqomxphlx.cchwallstreet.com/, at the principal
office of the Exchange, and at the Commission's Public Reference Room.

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

    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. The Exchange 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 the
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange proposes to update its Pricing Schedule in various
ways, which are explained below, to clarify its pricing. The Exchange
proposes to specifically (1) remove unnecessary rule text and
footnotes; (2) update names of the Exchange to reflect a recent name
change; (3) update the current definitions to add detail and rearrange
rule text; and (4) rename the Payment of Order Flow Fee.
Remove Unnecessary Rule Text and Footnotes
    The Exchange proposes to remove unnecessary footnote numbers
throughout the Pricing Schedule. The rule text contained within the
footnotes will remain in the Pricing Schedule, the actual footnote
numbers are being removed because the Exchange believes they are
distracting and do not add clarity to the Pricing Schedule.
    The Exchange also proposes to remove the references to SOX, HGX and
OSX in Section II of the Pricing Schedule, titled ``Multiply Listed
Options Fees,'' because these symbols are currently only listed on Phlx
and there is no confusion that they are Singly Listed symbols. These
symbols were previously listed on The NASDAQ Options Market, LLC for
some time, but this is no longer the case. SOX, HGX and OSX will
continue to be subject to Section III pricing. The Exchange is also
removing references to XDM, XEH, XEV and XDV in Section III, titled
``Singly Listed Options,'' as the Exchange no longer lists options
overlying these securities. These rule changes are non-substantive.
Name Changes
    The Exchange's name was recently updated \3\ from ``NASDAQ OMX PHLX
LLC'' to ``NASDAQ PHLX LLC.'' The Exchange is amending its name in the
Pricing Schedule along with references to ``NASDAQ OMX PSX,'' changing
it to ``NASDAQ PSX,'' and NASDAQ OMX BX, Inc.'s name will be changed to
NASDAQ BX, Inc.\4\ The Exchange proposes to update these names within
the Pricing Schedule. The Exchange proposes to remove all references to
``OMX'' within the Pricing Schedule. These rule changes are non-
substantive.
---------------------------------------------------------------------------

    \3\ See Securities Exchange Act Release No. 76654 (December 15,
2015), 80 FR 79396 (December 21, 2015) (SR-Phlx-2015-105).
    \4\ See Securities Exchange Act Release No. 76656 (December 15,
2015), 80 FR 79381 (December 21, 2015) (SR-BX-2015-080).
---------------------------------------------------------------------------

Definitions
    The Exchange proposes to relocate rule text currently located
within the footnotes to the text of certain definitions so the Exchange
may consolidate information. These rule changes are non-substantive.
Rename Payment for Order Flow as Marketing Fee
    The Exchange is proposing to rename the ``Payment for Order Flow''
Fee or ``PFOF'' as the ``Marketing Fee.'' The Exchange believes that
this reference to this fee is more appropriate. This rule change is
non-substantive.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b) of the Act \5\ in general, and furthers the objectives of Section
6(b)(5) of the Act \6\ in particular, in that it is designed to promote
just and equitable principles of trade, to remove impediments to and
perfect the mechanism of a free and open market and a national market
system, and, in general to protect investors and the public interest,
by bringing additional clarity to the Exchange's rules regarding
pricing.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78f(b).
    \6\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

Remove Unnecessary Rule Text and Footnotes
    The Exchange's proposal to remove unnecessary footnote numbers
throughout the Pricing Schedule will bring clarity to the Pricing
Schedule. The Exchange believes that removing the actual numbers, while
retaining the rule text, will remove these distracting footnotes and
make the Pricing Schedule easier to read. Also, the Exchange proposes
to remove the references to SOX, HGX and OSX in Section II, titled
``Multiply Listed Options Fees,'' of the Pricing Schedule. This change
is consistent with the Act and the protection of investors because
these symbols are currently only listed on Phlx and there is no
confusion that they are Singly Listed symbols. These symbols were
listed on The NASDAQ Options Market, LLC for some time, but this is no
longer the case. The Exchange's proposal to remove references to XDM,
XEH, XEV and XDV in Section III, titled ``Singly Listed Options,'' is
consistent with the Act because the Exchange no longer lists options
overlying these securities and removing these references will bring
clarity to the Pricing Schedule. The Exchange believes that these rule
changes are consistent with the Act because they protect investors and
the public interest by clarifying rules.
Name Changes
    The Exchange's proposal to update the Exchange's name, the
references to PSX and NASDAQ BX and remove all references to ``OMX''
will also clarify the Pricing Schedule by using the proper updated
names. The Exchange believes that these rule changes are consistent
with the Act because they protect investors and the public interest by
clarifying its rules. These rule changes are non-substantive.
Definitions
    The Exchange's proposal to relocate rule text within the footnotes
will provide members with consolidated information in one place on the
Pricing Schedule. The Exchange believes that these rule changes are
consistent with the Act because they protect investors and the public
interest by clarifying its rules. The Exchange is not altering the
definitions; these changes are non-substantive.
Rename Payment for Order Flow as Marketing Fee
    The Exchange's proposal to rename ``Payment for Order Flow'' Fee or
``PFOF'' as the ``Marketing Fee'' is consistent with the Act because
this non-substantive change will not impact pricing and is simply a
name change.

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.
Remove Unnecessary Rule Text and Footnotes
    The Exchange's proposal to remove unnecessary footnotes throughout
the Pricing Schedule, remove the references to SOX, HGX and OSX in
Section II and remove references to XDM, XEH, XEV and XDV in Section
III are non-substantive rule changes which will not impose an undue
burden on competition.
Name Changes
    The Exchange's proposal to update the Exchange's name, the
references to PSX and NASDAQ BX and remove references to ``OMX'' are
non-substantive rule changes which will not impose an undue burden on
competition.

Definitions
    The Exchange's proposal to relocate rule text currently located
within the footnotes will provide members with consolidated information
in one place on the Pricing Schedule. The relocation of the rule text
is a non-substantive rule change which will not impose an undue burden
on competition.
Rename Payment for Order Flow as Marketing Fee
    The Exchange's proposal to rename ``Payment for Order Flow'' or
``PFOF'' as ``Marketing Fee'' is a non-substantive rule change which
will not impose an undue burden on competition.

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

    No written comments were either solicited or received.

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

    Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A)(iii) of the Act \7\ and
subparagraph (f)(6) of Rule 19b-4 thereunder.\8\
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78s(b)(3)(a)(iii).
    \8\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
The Exchange has satisfied this requirement.
---------------------------------------------------------------------------

    The Exchange has asked the Commission to waive the 30-day operative
delay so that the proposal may become operative immediately upon
filing. The Exchange has stated that it is requesting this waiver
because the Exchange would like to update its Pricing Schedule
immediately to reflect these non-substantive changes and avoid investor
confusion. The Exchange believes that it is important to immediately
update its Pricing Schedule to reflect current proposed rule changes to
that document. Also, the Exchange believes that the amendments will
bring clarity to the Pricing Schedule. The Commission believes that
waiving the 30-day operative delay is consistent with the protection of
investors and the public interest because this waiver will enable the
Exchange to update its Pricing Schedule immediately with these non-
substantive changes and thereby make the Pricing Schedule clearer for
investors, avoiding potential points of confusion. For this reason, the
Commission hereby waives the 30-day operative delay requirement and
designates the proposed rule change as operative upon filing.\9\
---------------------------------------------------------------------------

    \9\ For purposes only of waiving the 30-day operative delay, the
Commission has considered the proposed rule's impact on efficiency,
competition, and capital formation. See 15 U.S.C. 78c(f).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is: (i)
Necessary or appropriate in the public interest; (ii) for the
protection of investors; or (iii) otherwise in furtherance of the
purposes of the Act. If the Commission takes such action, the
Commission shall institute proceedings to determine whether the
proposed rule should be approved or disapproved.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-Phlx-2016-30 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-Phlx-2016-30. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549 on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of such filing also will be available
for inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-Phlx-2016-30, and should be
submitted on or before March 29, 2016.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
---------------------------------------------------------------------------

    \10\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-05123 Filed 3-7-16; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register: March 11, 2009 (Volume 74, Number 46)]
[Notices]
[Page 10604-10605]
[DOCID:fr11mr09-103]

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

DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

[Internal Agency Docket No. FEMA-1823-DR; Docket ID FEMA-2008-0018]

Oklahoma; Amendment No. 1 to Notice of a Major Disaster
Declaration

AGENCY: Federal Emergency Management Agency, DHS.

ACTION: Notice.

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

SUMMARY: This notice amends the notice of a major disaster declaration
for the State of Oklahoma (FEMA-1823-DR), dated February 17, 2009, and
related determinations.

DATES: Effective Date: February 25, 2009.

FOR FURTHER INFORMATION CONTACT: Peggy Miller, Disaster Assistance
Directorate, Federal Emergency Management Agency, 500 C Street, SW.,
Washington, DC 20472,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: The notice of a major disaster declaration
for the State of Oklahoma is hereby amended to include the following
areas among those areas determined to have been adversely affected by
the event declared a major disaster by the President in his declaration
of February 17, 2009.

Comanche, Haskell, McIntosh, Muskogee, Okfuskee, and Sequoyah
Counties for Public Assistance.

(The following Catalog of Federal Domestic Assistance Numbers (CFDA)
are to be used for reporting and drawing funds: 97.030, Community
Disaster Loans; 97.031, Cora Brown Fund; 97.032, Crisis Counseling;
97.033, Disaster Legal Services; 97.034, Disaster Unemployment
Assistance (DUA); 97.046, Fire Management Assistance Grant; 97.048,
Disaster Housing Assistance to Individuals and Households In
Presidentially Declared Disaster Areas; 97.049, Presidentially
Declared Disaster Assistance--Disaster Housing Operations for
Individuals and Households; 97.050 Presidentially Declared Disaster
Assistance to Individuals and Households--Other Needs; 97.036,
Disaster Grants--Public Assistance

(Presidentially Declared Disasters); 97.039, Hazard Mitigation
Grant.)

Nancy Ward,
Acting Administrator, Federal Emergency Management Agency.
[FR Doc. E9-5233 Filed 3-10-09; 8:45 am]

BILLING CODE 9111-23-P


[Federal Register Volume 87, Number 128 (Wednesday, July 6, 2022)]
[Notices]
[Pages 40252-40254]
[FR Doc No: 2022-14347]

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

DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2022-N-0117]

Agency Information Collection Activities; Submission for Office
of Management and Budget Review; Comment Request; Emergency Use
Authorization of Medical Products

AGENCY: Food and Drug Administration, Health and Human Services (HHS).

ACTION: Notice.

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

SUMMARY: The Food and Drug Administration (FDA) is announcing that a
proposed collection of information has been submitted to the Office of
Management and Budget (OMB) for review and clearance under the
Paperwork Reduction Act of 1995.

DATES: Fax written comments on the collection of information by August
5, 2022.

ADDRESSES: To ensure that comments on the information collection are
received, OMB recommends that written comments be faxed to the Office
of Information and Regulatory Affairs, OMB, Attn: FDA Desk Officer,
Fax:<PHONE_NUMBER>, or emailed to [email protected]. All
comments should be identified with the OMB control number 0910-0595.
Also include the FDA docket number found in brackets in the heading of
this document.

FOR FURTHER INFORMATION CONTACT: Domini Bean, Office of Operations,
Food and Drug Administration, Three White Flint North, 10A-45, 11601
Landsdown St., North Bethesda, MD 20852,<PHONE_NUMBER>,
[email protected].

SUPPLEMENTARY INFORMATION: In compliance with 44 U.S.C. 3507, FDA has
submitted the following proposed collection of information to OMB for
review and clearance.

Emergency Use Authorization of Medical Products

OMB Control Number 0910-0595--Extension

    This information collection helps support implementation of Agency
policies applicable to the authorization for medical products for use
in emergencies under sections 564, 564A, and 564B of the Federal Food,
Drug, and Cosmetic Act (FD&C Act) (21 U.S.C. 360bbb-3, 360bbb-3a, and
360bbb-3b). For more information regarding emergency use authorization
(EUA), visit our website at https://www.fda.gov/

emergency-preparedness-and-response/mcm-legal-regulatory-and-policy-
framework/emergency-use-authorization. The FD&C Act permits the
Commissioner of Food and Drugs (the Commissioner) to authorize the use
of unapproved medical products, or unapproved uses of approved medical
products, during an emergency declared under section 564 of the FD&C
Act. The data to support issuance of an EUA must demonstrate that,
based on the totality of the scientific evidence available to the
Commissioner, including data from adequate and well-controlled clinical
trials (if available), it is reasonable to believe that the product may
be effective in diagnosing, treating, or preventing a serious or life-
threatening disease or condition (21 U.S.C. 360bbb-3(c)).
    Also under section 564 of the FD&C Act, the Commissioner may
establish conditions on issuing an authorization that may be necessary
or appropriate to protect the public health. These conditions can
include: (1) requirements to disseminate or disclose information to
healthcare providers or authorized dispensers and product recipients;
(2) adverse event monitoring and reporting; (3) data collection and
analysis; (4) specific recordkeeping and records access; (5)
restrictions on product advertising, distribution, and administration;
and (6) limitations on good manufacturing practice requirements. As
governed by statute, some conditions are mandatory to the extent
practicable for authorizations of unapproved products, and
discretionary for authorizations of unapproved uses of approved
products. Some conditions may apply to manufacturers of an EUA product,
while other conditions may apply to any person who carries out an
activity for which the authorization is issued. Sections 564A and 564B
of the FD&C Act establish streamlined mechanisms intended to facilitate
preparedness and response activities involving certain FDA approved
products without requiring FDA to issue an EUA, and set forth emergency
dispensing order and expiration date extension authority.
    The guidance document entitled, ``Emergency Use Authorization of
Medical Products and Related Authorities'' (January 2017), available
for download from our website at https://www.fda.gov/regulatory-information/search-fda-guidance-documents/emergency-use-authorization-medical-products-and-related-authorities, discusses FDA issuance of
Emergency Use Authorizations (EUAs) under section 564 of the FD&C Act;
implementation of the emergency use authorities set forth in section
564A of the FD&C Act; reliance on the governmental pre-positioning
authority set forth in section 564B of the FD&C Act; and related FDA
regulations. As discussed in the guidance document, the specific type
and amount of data needed to support an EUA will vary depending on the
nature of the declared emergency and the nature of the candidate
product. The guidance document encourages early engagement with FDA,
explains mechanisms for communication, and makes content and format
recommendations on submitting information to the Agency. The guidance
document also recommends that a request for consideration for an EUA
include scientific evidence evaluating the product's safety and
effectiveness, including the adverse event profile for diagnosis,
treatment, or prevention of the serious or life-threatening disease or
condition, as well as data and other information on safety,
effectiveness, risks and benefits, and (to the extent available)
alternatives.
    In the Federal Register of March 3, 2022 (87 FR 12175), we
published a 60-day notice requesting public comment on the proposed
collection of information. Two comments were received. One comment
communicated that the information collection has proven useful in
expediting the availability of vaccines during the pandemic, and also
suggested potential modifications. The second comment was not
responsive to the information collection topics solicited in our 60-day
notice. Neither comment offered alternative burden estimates.
    We estimate the burden of this collection of information as
follows:

                                 Table 1--Estimated Annual Reporting Burden \1\
----------------------------------------------------------------------------------------------------------------
                                                     Number of                        Average
 Information collection activity     Number of     responses per   Total annual     burden per      Total hours
                                    respondents     respondent       responses       response
----------------------------------------------------------------------------------------------------------------
Requests for a substantive                  2724               2            5448              45         245,160
 amendment to an existing EUA...
Pre-EUA submissions or                      2001               1            2001              34          68,034
 amendments.....................
Submitting information required               36               3             108               8             864
 under conditions of
 authorization..................
State and local public health                  1               1               1               2               2
 authority submissions required
 under conditions of
 authorization for unapproved
 EUA product....................
State and local public health                  1               1               1               2               2
 authority requests for
 Emergency Dispensing Order.....
State and local public health                  1               1               1              20              20
 authority requests for
 expiration date extension......
                                 -------------------------------------------------------------------------------
    Total.......................  ..............  ..............            7560  ..............         314,082
----------------------------------------------------------------------------------------------------------------
\1\ There are no capital costs or operating and maintenance costs associated with this collection of
  information.

    Although we have averaged burden across all respondents, we
categorize reporting activity by the type of EUA-related submission:
(1) those who file a request for FDA to issue an EUA and/or a
substantive amendment to an EUA that has previously been issued; (2)
those who submit a request for FDA to review information/data (i.e., a
pre-EUA package) for a candidate EUA product or a substantive amendment
to an existing pre-EUA package for preparedness purposes; (3) those who
must report on activities related to an unapproved EUA product (e.g.,
administering product, disseminating information) who must report to
FDA regarding such activity; (4) public health authorities (e.g.,
State, local) who must report on certain activities (e.g.,
administering product, disseminating information) related to an
unapproved EUA, and public health authorities who submit an expiration
date extension request for an approved product; (5) those who request
an emergency dispensing order under section 564A; and (6) those who
request

expiry dating extensions under section 564A of the FDC&C Act. We
attribute greater burden to those requests for FDA to review pre-EUA
packages submitted by product sponsors than burden we attribute to
those submitted by Federal agencies (e.g., Centers for Disease Control
and Prevention, the Department of Defense), and have considered other
factors that contribute to variability in burden for reporting,
including the type of product and whether there is a previously
reviewed pre-EUA package or investigational application.

                               Table 2--Estimated Annual Recordkeeping Burden \1\
----------------------------------------------------------------------------------------------------------------
                                                     Number of                        Average
     Records associated with         Number of      records per    Total annual     burden per      Total hours
   conditions of authorization     recordkeepers   recordkeeper       records      recordkeeping
----------------------------------------------------------------------------------------------------------------
EUA Holders.....................             648               2           1,296              25          32,400
State and local Public Health                  1               1               1               3               3
 Authorities....................
                                 -------------------------------------------------------------------------------
    Total.......................  ..............  ..............           1,297  ..............          32,403
----------------------------------------------------------------------------------------------------------------
\1\ There are no capital costs or operating and maintenance costs associated with this collection of
  information.

    We provide a conservative estimate for respondent recordkeeping,
recognizing that the Federal Government performs much of this activity
in conjunction with submissions. We do not include burden for public
health authorities who may need to submit emergency dispensing orders
or expiration date extension requests, assuming covered entities
already maintain these records for the products they stockpile.

                                               Table 3--Estimated Annual Third-Party Disclosure Burden \1\
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                Number of
                  Information collection activity                       Number of     disclosures per    Total annual   Average  burden    Total hours
                                                                       respondents       respondent      disclosures    per  disclosure
--------------------------------------------------------------------------------------------------------------------------------------------------------
Dissemination of required information by EUA Holder or Authorized               635                2             1270                5             6350
 Stakeholder.......................................................
--------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ There are no capital costs or operating and maintenance costs associated with this collection of information.

    Our third-party disclosure estimate is based on the number of EUA
holders and authorized stakeholders disseminating information,
including fact sheets, advertising, and promotional materials.
    We have increased our burden estimate for the information
collection to reflect the increase in submissions we have received over
the last 3 years.

    Dated: June 23, 2022.
Lauren K. Roth,
Associate Commissioner for Policy.
[FR Doc. 2022-14347 Filed 7-5-22; 8:45 am]
BILLING CODE 4164-01-P


[Federal Register Volume 87, Number 206 (Wednesday, October 26, 2022)]
[Notices]
[Pages 64840-64841]
[FR Doc No: 2022-23318]

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

DEPARTMENT OF TRANSPORTATION

Federal Motor Carrier Safety Administration

[Docket No. FMCSA-2022-0209]

Women of Trucking Advisory Board (WOTAB); Notice of Public
Meeting

AGENCY: Federal Motor Carrier Safety Administration (FMCSA), Department
of Transportation (DOT).

ACTION: Notice of public meeting.

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

SUMMARY: The FMCSA announces a meeting of the WOTAB.

DATES: The meeting will be held on Wednesday, November 9, 2022, from
9:30 a.m. to 4:30 p.m. ET. Requests for accommodations for a disability
must be received by Wednesday, November 2, 2022. Requests to submit
written materials for consideration during the meeting must be received
no later than Wednesday, November 2, 2022.

ADDRESSES: The meeting will be held virtually for its entirety. Please
register in advance of the meeting at www.fmcsa.dot.gov/wotab. Copies
of WOTAB task statements and an agenda for the entire meeting will be
made available at www.fmcsa.dot.gov/wotab at least 1 week in advance of
the meeting. Once approved, copies of the meeting minutes will be
available at the website following the meeting. You may visit the WOTAB
website at www.fmcsa.dot.gov/wotab for further information on the
committee and its activities.

FOR FURTHER INFORMATION CONTACT: Ms. Shannon L. Watson, Designated
Federal Officer, WOTAB, FMCSA, 1200 New Jersey Avenue SE, Washington,
DC 20590,<PHONE_NUMBER>, [email protected]. Any committee-related request
should be sent to the person listed in this section.

SUPPLEMENTARY INFORMATION:

I. Background

    WOTAB was created under the Federal Advisory Committee Act (FACA)
in accordance with section 23007(d)(1) of the Bipartisan Infrastructure
Law (BIL) (Pub. L. 117-58), which requires FMCSA to establish WOTAB.
WOTAB will review and report on policies that provide education,
training, mentorship, and outreach to women in the trucking industry
and identify barriers and industry trends that directly or indirectly
discourage women from pursuing and retaining careers in trucking.
    WOTAB operates in accordance with FACA under the terms of the WOTAB
charter, filed February 11, 2022.

II. Agenda

    The agenda will cover the following topics:
     An ethics briefing for WOTAB members;
     A report by FMCSA's Office of Research on the results of
``Crime Prevention for Truckers'', a study of women and other CMV
drivers and their safety on the road, followed by a discussion;
     Other speakers who may share insights into what WOTAB's
establishment means to them.

III. Public Participation

    The meeting will be open to the public via virtual platform.
Advance registration via the website is encouraged.
    DOT is committed to providing equal access to this meeting for all
participants. If you need alternative formats or services due to a
disability, such as sign language interpretation or

other ancillary aids, please contact the person listed in the FOR
FURTHER INFORMATION CONTACT section by Wednesday, November 2, 2022.
    Oral comments from the public will be heard during designated
comment periods at the discretion of the WOTAB Chair and Designated
Federal Officer. To accommodate as many speakers as possible, the time
for each commenter may be limited. Speakers are requested to submit a
written copy of their remarks for inclusion in the meeting records and
for circulation to WOTAB members. All prepared remarks submitted on
time will be accepted and considered as part of the record. Any member
of the public may present a written statement to the committee at any
time.

Larry W. Minor,
Associate Administrator for Policy.
[FR Doc. 2022-23318 Filed 10-25-22; 8:45 am]
BILLING CODE 4910-EX-P