Lydia Wegman/RTP/USEPA/US

03/07/2008 05:29 PM

To

"King, Heidi R."<EMAIL_ADDRESS> cc

Karen Martin/RTP/USEPA/US@EPA, "Schwab, Margo" <EMAIL_ADDRESS><EMAIL_ADDRESS>Tricia Crabtree/RTP/USEPA/US@EPA

Subject

Re: Confirming: we're good to go on the language avoiding "bright line" associated with epi

Thanks for letting us know.

"King, Heidi R."<EMAIL_ADDRESS> 03/07/2008 04:09 PM

To

Lydia Wegman/RTP/USEPA/US@EPA, Karen Martin/RTP/USEPA/US@EPA

cc

"Schwab, Margo"<EMAIL_ADDRESS> Subject

Confirming: we're good to go on the language avoiding "bright line" associated with epi

Thank you, it works!

Best regards,

heidi


[Federal Register Volume 80, Number 241 (Wednesday, December 16, 2015)]
[Notices]
[Page 78218]
[FR Doc No: 2015-31612]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[14697-000]

Advanced Hydropower, Inc.; Notice of Preliminary Permit
Application Accepted for Filing and Soliciting Comments, Motions To
Intervene, and Competing Applications

    On August 3, 2015, Advanced Hydropower, Inc. filed an application
for a preliminary permit, pursuant to section 4(f) of the Federal Power
Act (FPA), proposing to study the feasibility of the McNary Dam
Advanced Hydropower Project (McNary Dam Project or project) to be
located at U.S. Corps of Engineers' McNary Dam near Plymouth in Benton
County, Washington and Umatilla in Umatilla County, Oregon. The sole
purpose of a preliminary permit, if issued, is to grant the permit
holder priority to file a license application during the permit term. A
preliminary permit does not authorize the permit holder to perform any
land-disturbing activities or otherwise enter upon lands or waters
owned by others without the owners' express permission.
    The proposed project would utilize flows at the existing McNary
Dam, and would consist of the following new features: (1) A 52-foot-
wide, 40-foot-high gated intake located on the upstream side of McNary
Dam; (2) a 32-foot-wide, 34-foot-high, 234-foot-long concrete penstock
installed through McNary Dam; (3) a 34-megawatt vertical shaft Alden
turbine; (4) a draft tube discharging flows to the existing McNary Dam
tailrace; (5) a 1.24-mile-long, 13.8- or 23-kilovolt transmission line
interconnecting with the existing McNary Dam switchyard; and (6)
appurtenant facilities. The estimated annual generation of the McNary
Dam Project would be 148.92 gigawatt-hours.
    Applicant Contact: Mr. Kurt Ross, Advanced Hydropower, Inc., 925
Fairgrounds Road, Goldendale, Washington 98620; phone:<PHONE_NUMBER>.
    FERC Contact: Sean O'Neill; phone:<PHONE_NUMBER>.
    Deadline for filing comments, motions to intervene, competing
applications (without notices of intent), or notices of intent to file
competing applications: 60 days from the issuance of this notice.
Competing applications and notices of intent must meet the requirements
of 18 CFR 4.36.
    The Commission strongly encourages electronic filing. Please file
comments, motions to intervene, notices of intent, and competing
applications using the Commission's eFiling system at http://www.ferc.gov/docs-filing/efiling.asp. Commenters can submit brief
comments up to 6,000 characters, without prior registration, using the
eComment system at http://www.ferc.gov/docs-filing/ecomment.asp. You
must include your name and contact information at the end of your
comments. For assistance, please contact FERC Online Support at
<EMAIL_ADDRESS>(866) 208-3676 (toll free), or (202) 502-
8659 (TTY). In lieu of electronic filing, please send a paper copy to:
Secretary, Federal Energy Regulatory Commission, 888 First Street NE.,
Washington, DC 20426. The first page of any filing should include
docket number P-14697-000.
    More information about this project, including a copy of the
application, can be viewed or printed on the ``eLibrary'' link of
Commission's Web site at http://www.ferc.gov/docs-filing/elibrary.asp.
Enter the docket number (P-14697) in the docket number field to access
the document. For assistance, contact FERC Online Support.

    Dated: December 10, 2015.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2015-31612 Filed 12-15-15; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 87, Number 41 (Wednesday, March 2, 2022)]
[Notices]
[Pages 11718-11719]
[FR Doc No: 2022-04399]

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

DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2019-D-5572]

Inclusion of Older Adults in Cancer Clinical Trials; Guidance for
Industry; Availability

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice of availability.

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

SUMMARY: The Food and Drug Administration (FDA or Agency) is announcing
the availability of a final guidance for industry entitled ``Inclusion
of Older Adults in Cancer Clinical Trials.'' This guidance provides
recommendations regarding the inclusion of older adult patients in
clinical trials of drugs for the treatment of cancer. For the purpose
of this final guidance, older adults are those age 65 years and older.
The final guidance emphasizes the particular importance of including
adults over age 75 years in cancer clinical trials. Specifically, this
final guidance includes recommendations for including an adequate
representation of older adults in cancer clinical trials to better
enable evaluation of the benefit-risk profile of cancer drugs in this
population. This guidance finalizes the draft guidance of the same
title issued on March 6, 2020.

DATES: The announcement of the guidance is published in the Federal
Register on March 2, 2022.

ADDRESSES: You may submit either electronic or written comments on
Agency guidances at any time as follows:

Electronic Submissions

    Submit electronic comments in the following way:
     Federal eRulemaking Portal: https://www.regulations.gov.
Follow the instructions for submitting comments. Comments submitted
electronically, including attachments, to https://www.regulations.gov
will be posted to the docket unchanged. Because your comment will be
made public, you are solely responsible for ensuring that your comment
does not include any confidential information that you or a third party
may not wish to be posted, such as medical information, your or anyone
else's Social Security number, or confidential business information,
such as a manufacturing process. Please note that if you include your
name, contact information, or other information that identifies you in
the body of your comments, that information will be posted on https://www.regulations.gov.
     If you want to submit a comment with confidential
information that you do not wish to be made available to the public,
submit the comment as a written/paper submission and in the manner
detailed (see ``Written/Paper Submissions'' and ``Instructions'').

Written/Paper Submissions

    Submit written/paper submissions as follows:
     Mail/Hand Delivery/Courier (for written/paper
submissions): Dockets Management Staff (HFA-305), Food and Drug
Administration, 5630 Fishers Lane, Rm. 1061, Rockville, MD 20852.
     For written/paper comments submitted to the Dockets
Management Staff, FDA will post your comment, as well as any
attachments, except for information submitted, marked and identified,
as confidential, if submitted as detailed in ``Instructions.''
    Instructions: All submissions received must include the Docket No.
FDA-2019-D-5572 for ``Inclusion of Older Adults in Cancer Clinical
Trials.'' Received comments will be placed in the docket and, except
for those submitted as ``Confidential Submissions,'' publicly viewable
at https://www.regulations.gov or at the Dockets Management Staff
between 9 a.m. and 4 p.m., Monday through Friday,<PHONE_NUMBER>.
     Confidential Submissions--To submit a comment with
confidential information that you do not wish to be made publicly
available, submit your comments only as a written/paper submission. You
should submit two copies total. One copy will include the information
you claim to be confidential with a heading or cover note that states
``THIS DOCUMENT CONTAINS CONFIDENTIAL INFORMATION.'' The Agency will
review this copy, including the claimed confidential information, in
its consideration of comments. The second copy, which will have the
claimed confidential information redacted/blacked out, will be
available for public viewing and posted on https://www.regulations.gov.
Submit both copies to the Dockets Management Staff. If you do not wish
your name and contact information to be made publicly available, you
can provide this information on the cover sheet and not in the body of
your comments and you must identify this information as
``confidential.'' Any information marked as ``confidential'' will not
be disclosed except in accordance with 21 CFR 10.20 and other
applicable disclosure law. For more information about FDA's posting of
comments to public dockets, see 80 FR 56469, September 18, 2015, or
access the information at: https://www.govinfo.gov/content/pkg/FR-2015-09-18/pdf/2015-23389.pdf.
    Docket: For access to the docket to read background documents or
the electronic and written/paper 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,<PHONE_NUMBER>.
    You may submit comments on any guidance at any time (see 21 CFR
10.115(g)(5)).
    Submit written requests for single copies of this guidance to the
Division of Drug Information, Center for Drug Evaluation and Research,
Food and Drug Administration, 10001 New Hampshire Ave., Hillandale
Building, 4th Floor, Silver Spring, MD 20993-0002. Send one self-
addressed adhesive label to assist that office in processing your
requests. See the SUPPLEMENTARY INFORMATION section for electronic
access to the guidance document.

FOR FURTHER INFORMATION CONTACT: Bindu Kanapuru, Center for Drug
Evaluation and Research, Food and Drug Administration, 10903 New
Hampshire Ave., Bldg. 22, Rm. 2119, Silver Spring, MD 20993-0002, 240
402-1279.

SUPPLEMENTARY INFORMATION:

I. Background

    FDA is announcing the availability of a final guidance for industry
entitled ``Inclusion of Older Adults in Cancer Clinical Trials.'' This
final guidance provides recommendations for stakeholders, including
sponsors and institutional review boards, responsible for the
development and oversight of clinical trials regarding the inclusion of
older adult patients (i.e., age 65 years and older) in clinical trials
of drugs for the treatment of cancer. The final guidance emphasizes the
particular importance of including adults over age 75 years in cancer
clinical trials.
    Enrolling an adequate representation of the range of patients in a
clinical trial that may be exposed to a drug after approval can
maximize the generalizability of the trial results. It provides the
ability to understand the drug's benefit-risk profile across the
patient population likely to use the drug in clinical practice.
Including information in the labeling describing use in older adults
helps to promote the safe and effective use of these products and
better informs treatment decisions in clinical practice.
    Older adults are underrepresented in cancer clinical trials despite

representing a growing segment of the population of cancer patients.
Therefore, more information is needed to better inform treatment
decisions for older adults with cancer. The issue persists in oncology
despite FDA's efforts to increase the inclusion of older adults in
clinical trials.
    The guidance recommends that sponsors of cancer trials consider the
age demographics of their target population early in development and
that a strategy for inclusion of older adults be informed by any known
information for older adults. The final guidance includes
recommendations for inclusion of older adults related to early clinical
development; clinical trials, including considerations for trial
design, recruitment, and developing and reporting discrete age
subgroups; and the postmarket setting.
    This guidance finalizes the draft guidance entitled ``Inclusion of
Older Adults in Cancer Clinical Trials'' issued on March 6, 2020 (85 FR
13167). FDA considered comments received on the draft guidance as the
guidance was finalized. Changes from the draft to the final guidance
include capture of comorbidity information, clarification that this
guidance applies to both small and large studies, added guidance on
decentralization and recruitment efforts for community oncologists, an
improved definition of adequate representation in a study trial,
clarification of trial design stratification, and added references to
other guidances.
    This guidance is being issued consistent with FDA's good guidance
practices regulation (21 CFR 10.115). The guidance represents the
current thinking of FDA on ``Inclusion of Older Adults in Cancer
Clinical Trials.'' It does not establish any rights for any person and
is not binding on FDA or the public. You can use an alternative
approach if it satisfies the requirements of the applicable statutes
and regulations.

II. Paperwork Reduction Act of 1995

    While this guidance contains no collection of information, it does
refer to previously approved FDA collections of information. Therefore,
clearance by the Office of Management and Budget (OMB) under the
Paperwork Reduction Act of 1995 (PRA) (44 U.S.C. 3501-3521) is not
required for this guidance. The previously approved collections of
information are subject to review by OMB under the PRA. The collections
of information in 21 CFR part 312 have been approved under OMB control
number 0910-0014; the collections of information in 21 CFR part 314
have been approved under OMB control number 0910-0001; the collections
of information in 21 CFR part 601 have been approved under 0910-0338;
and the collections of information in 21 CFR 201.56 and 201.57 have
been approved under OMB control number 0910-0572.

III. Electronic Access

    Persons with access to the internet may obtain the guidance at
https://www.fda.gov/drugs/guidance-compliance-regulatory-information/guidances-drugs, https://www.fda.gov/regulatory-information/search-fda-guidance-documents, or https://www.regulations.gov.

    Dated: February 24, 2022.
Lauren K. Roth,
Associate Commissioner for Policy.
[FR Doc. 2022-04399 Filed 3-1-22; 8:45 am]
BILLING CODE 4164-01-P


[Federal Register Volume 80, Number 42 (Wednesday, March 4, 2015)]
[Rules and Regulations]
[Pages 11536-11537]
[FR Doc No: 2015-04476]

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

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 91

[Docket No. FAA-2007-29305; Amdt. No. 91-336A]
RIN 2120-AI92

Automatic Dependent Surveillance-Broadcast (ADS-B) Out
Performance Requirements To Support Air Traffic Control (ATC) Service;
Technical Amendment; Correction

AGENCY: Federal Aviation Administration, DOT.

ACTION: Final rule; correction of a technical amendment.

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

SUMMARY: The FAA is correcting a final rule technical amendment
published on February 9, 2015 (80 FR 6899). In that final rule, which
became effective on the date of publication, the FAA corrected errors
in regulatory provisions addressing Automatic Dependent Surveillance-
Broadcast Out equipment and use. The FAA inadvertently listed an
incorrect Amendment Number for that final rule. This document corrects
that error.

DATES: Effective: March 4, 2015.

FOR FURTHER INFORMATION CONTACT: For technical questions concerning
this action, contact Robert F. Nichols, Jr., Surveillance Services
Group Manager, AJM-23, Air Traffic Organization,

Federal Aviation Administration, 600 Independence Avenue SW.,
Washington, DC 20591; telephone<PHONE_NUMBER>; email
<EMAIL_ADDRESS>    For legal questions concerning this action, contact Lorelei Peter,
Office of the Chief Counsel, AGC-200, Federal Aviation Administration,
800 Independence Avenue SW., Washington, DC 20591; telephone (202) 267-
3073; email<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

Background

    On February 9, 2015, the FAA published a final rule technical
amendment entitled, ``Automatic Dependent Surveillance-Broadcast (ADS-
B) Out Performance Requirements To Support Air Traffic Control (ATC)
Service; Technical Amendment.'' In that final rule, which became
effective February 9, 2015, the FAA amended 14 CFR part 91. The FAA
inadvertently listed the incorrect Amendment Number for part 91 in the
header information of the final rule as 91-334. The correct amendment
number is 91-336.

Correction

    In the final rule, FR Doc. 2015-02579, published on February 9,
2015, at 80 FR 6899 make the following correction:
    1. On page 6899 in the heading of the final rule, revise ``Amdt.
No. 91-334'' to read ``91-336''.

    Issued in Washington, DC, under the authority provided by 49
U.S.C. 106(f), on February 26, 2015.
Brenda D. Courtney,
Acting Director, Office of Rulemaking.
[FR Doc. 2015-04476 Filed 3-3-15; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 81, Number 210 (Monday, October 31, 2016)]
[Notices]
[Pages 75394-75395]
[FR Doc No: 2016-26225]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings #1

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

    Docket Numbers: ER11-1844-003.
    Applicants: Midcontinent Independent System Operator, Inc.
    Description: Midcontinent Independent System Operator, Inc. submits
tariff filing per 35: 2016-10-24_Compliance filing to address ITC PARs
Order to be effective 1/1/2011.
    Filed Date: 10/24/16.
    Accession Number: 20161024-5046.
    Comments Due: 5 p.m. ET 11/14/16.

    Docket Numbers: ER16-833-003.
    Applicants: Midcontinent Independent System Operator, Inc.
    Description: Compliance filing: 2016-10-21_Default Technology
Specific Avoidable Cost to be effective 9/1/2016.
    Filed Date: 10/21/16.
    Accession Number: 20161021-5153.
    Comments Due: 5 p.m. ET 11/14/16.

    Docket Numbers: ER16-1314-002.
    Applicants: Southwest Power Pool, Inc.
    Description: Compliance filing: 2198R20 and 2198R21 KPP NITSA NOA
Compliance Filing to be effective 3/1/2016.
    Filed Date: 10/24/16.
    Accession Number: 20161024-5078.
    Comments Due: 5 p.m. ET 11/14/16.

    Docket Numbers: ER16-2402-001.
    Applicants: UGI Utilities Inc.
    Description: Compliance filing: Supplemental Revisions to Market
Based Rate Tariff to be effective 10/10/2016.
    Filed Date: 10/24/16.
    Accession Number: 20161024-5119.
    Comments Due: 5 p.m. ET 11/14/16.

    Docket Numbers: ER16-2403-001.
    Applicants: UGI Development Company.
    Description: Compliance filing: Supplemental Revisions to Market
Based Rate Tariff to be effective 10/10/2016.
    Filed Date: 10/24/16.
    Accession Number: 20161024-5126.
    Comments Due: 5 p.m. ET 11/14/16.

    Docket Numbers: ER17-158-000.
    Applicants: Western Farmers Electric Cooperative.
    Description: Petition for Tariff Waiver of Western Farmers Electric
Cooperative.
    Filed Date: 10/21/16.
    Accession Number: 20161021-5173.
    Comments Due: 5 p.m. ET 11/14/16.

    Docket Numbers: ER17-159-000.
    Applicants: DTE Electric Company.
    Description: Notice of Cancellation of Tariff No. 1 of DTE Electric
Company.
    Filed Date: 10/24/16.
    Accession Number: 20161024-5033.
    Comments Due: 5 p.m. ET 11/14/16.

    Docket Numbers: ER17-160-000.
    Applicants: Public Service Company of New Mexico.
    Description: Tariff Cancellation: Notice of Cancellation of Third
Revised NITSA and Third Revised NOA to be effective 12/31/2016.
    Filed Date: 10/24/16.
    Accession Number: 20161024-5059.
    Comments Due: 5 p.m. ET 11/14/16.

    Docket Numbers: ER17-161-000.
    Applicants: Public Service Company of New Mexico.
    Description: Tariff Cancellation: Notice of Cancellation of Power
Sale Agreement to be effective 12/31/2016.
    Filed Date: 10/24/16.
    Accession Number: 20161024-5057.
    Comments Due: 5 p.m. ET 11/14/16.

    Docket Numbers: ER17-162-000.
    Applicants: Public Service Company of New Mexico.
    Description: Compliance filing: Executed Service Agreement for
Electric Service under PNM?s Coordination Tariff to be effective 1/1/
2017.
    Filed Date: 10/24/16.
    Accession Number: 20161024-5058.
    Comments Due: 5 p.m. ET 11/14/16.

    Docket Numbers: ER17-163-000.
    Applicants: PJM Interconnection, L.L.C.
    Description: Sec.  205(d) Rate Filing: First Revised ISA No. 4331,
Queue No. AA2-139 to be effective 9/22/2016.
    Filed Date: 10/24/16.
    Accession Number: 20161024-5113.
    Comments Due: 5 p.m. ET 11/14/16.

    Docket Numbers: ER17-164-000.
    Applicants: Wisconsin Public Service Corporation.
    Description: Sec.  205(d) Rate Filing: WPS Corp and Daggett
Agreement for Wholesale Distribution Service to be effective 1/1/2017.
    Filed Date: 10/24/16.
    Accession Number: 20161024-5127.
    Comments Due: 5 p.m. ET 11/14/16.

    Docket Numbers: ER17-165-000.
    Applicants: Wisconsin Public Service Corporation.
    Description: Sec.  205(d) Rate Filing: WPS Corp and Stephenson
Agreement for Wholesale Distribution Service to be effective 1/1/2017.
    Filed Date: 10/24/16.
    Accession Number: 20161024-5128.
    Comments Due: 5 p.m. ET 11/14/16.

    Docket Numbers: ER17-166-000.
    Applicants: Upper Michigan Energy Resources Corporation.
    Description: Sec.  205(d) Rate Filing: UMERC to Daggett Rate
Schedule No 6 to be effective 1/1/2017.
    Filed Date: 10/24/16.
    Accession Number: 20161024-5129.
    Comments Due: 5 p.m. ET 11/14/16.

    Docket Numbers: ER17-167-000.
    Applicants: Upper Michigan Energy Resources Corporation.
    Description: Sec.  205(d) Rate Filing: UMERC to Stephenson Rate
Schedule No 7 to be effective 1/1/2017.
    Filed Date: 10/24/16.
    Accession Number: 20161024-5135.
    Comments Due: 5 p.m. ET 11/14/16.

    Docket Numbers: ER17-168-000.
    Applicants: Applied Energy LLC.
    Description: Baseline eTariff Filing: Market-Based Rates
Application to be effective 12/24/2016.
    Filed Date: 10/24/16.
    Accession Number: 20161024-5141.
    Comments Due: 5 p.m. ET 11/14/16.

    The filings are accessible in the Commission's eLibrary system by
clicking on the links or querying the docket number.
    Any person desiring to intervene or protest in any of the above
proceedings must file in accordance with Rules 211 and 214 of the
Commission's Regulations (18 CFR 385.211 and 385.214) on or before 5:00
p.m. Eastern

time on the specified comment date. Protests may be considered, but
intervention is necessary to become a party to the proceeding.
    eFiling is encouraged. More detailed information relating to filing
requirements, interventions, protests, service, and qualifying
facilities filings can be found at: http://www.ferc.gov/docs-filing/efiling/filing-req.pdf. For other information, call<PHONE_NUMBER>
(toll free). For TTY, call<PHONE_NUMBER>.

    Dated: October 24, 2016.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2016-26225 Filed 10-28-16; 8:45 am]
 BILLING CODE 6717-01-P


[Federal Register Volume 88, Number 212 (Friday, November 3, 2023)]
[Rules and Regulations]
[Pages 75477-75480]
[FR Doc No: 2023-24405]

========================================================================
Rules and Regulations
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains regulatory documents
having general applicability and legal effect, most of which are keyed
to and codified in the Code of Federal Regulations, which is published
under 50 titles pursuant to 44 U.S.C. 1510.

The Code of Federal Regulations is sold by the Superintendent of Documents.

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

Federal Register / Vol. 88, No. 212 / Friday, November 3, 2023 /
Rules and Regulations

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. FAA-2023-2142; Project Identifier MCAI-2023-01056-T;
Amendment 39-22592; AD 2023-22-08]
RIN 2120-AA64

Airworthiness Directives; Airbus SAS Airplanes

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final rule; request for comments.

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

SUMMARY: The FAA is superseding Airworthiness Directive (AD) 2023-04-
12, which applied to all Airbus SAS Model A350-941 and -1041 airplanes.
AD 2023-04-12 required repetitive detailed inspections of affected
cargo sealing tapes and applicable corrective actions. Since the FAA
issued AD 2023-04-12, additional locations have been identified that
are subject to the unsafe condition. This AD retains the requirements
of AD 2023-04-12 and expands the inspection area, as specified in a
European Union Aviation Safety Agency (EASA) AD, which is incorporated
by reference. The FAA is issuing this AD to address the unsafe
condition on these products.

DATES: This AD is effective November 20, 2023.
    The Director of the Federal Register approved the incorporation by
reference of a certain publication listed in this AD as of November 20,
2023.
    The FAA must receive comments on this AD by December 18, 2023.

ADDRESSES: You may send comments, using the procedures found in 14 CFR
11.43 and 11.45, by any of the following methods:
     Federal eRulemaking Portal: Go to regulations.gov. Follow
the instructions for submitting comments.
     Fax:<PHONE_NUMBER>.
     Mail: U.S. Department of Transportation, Docket
Operations, M-30, West Building Ground Floor, Room W12-140, 1200 New
Jersey Avenue SE, Washington, DC 20590.
     Hand Delivery: Deliver to Mail address above between 9
a.m. and 5 p.m., Monday through Friday, except Federal holidays.
    AD Docket: You may examine the AD docket at regulations.gov under
Docket No. FAA-2023-2142; or in person at Docket Operations between 9
a.m. and 5 p.m., Monday through Friday, except Federal holidays. The AD
docket contains this final rule, the mandatory continuing airworthiness
information (MCAI), any comments received, and other information. The
street address for Docket Operations is listed above.
    Material Incorporated by Reference:
     For EASA material incorporated by reference in this AD,
contact EASA, Konrad-Adenauer-Ufer 3, 50668 Cologne, Germany; telephone
+49 221 8999 000; email [email protected]; website easa.europa.eu. You
may find this material on the EASA website at ad.easa.europa.eu.
     You may view this service information at the FAA,
Airworthiness Products Section, Operational Safety Branch, 2200 South
216th St., Des Moines, WA. For information on the availability of this
material at the FAA, call<PHONE_NUMBER>. It is also available at
regulations.gov under Docket No. FAA-2023-2142.

FOR FURTHER INFORMATION CONTACT: Dat Le, Aviation Safety Engineer, FAA,
1600 Stewart Avenue, Suite 410, Westbury, NY 11590; telephone 516-228-
7317; email [email protected].

SUPPLEMENTARY INFORMATION:

Comments Invited

    The FAA invites you to send any written data, views, or arguments
about this final rule. Send your comments to an address listed under
ADDRESSES. Include ``Docket No. FAA-2023-2142; Project Identifier MCAI-
2023-01056-T'' at the beginning of your comments. The most helpful
comments reference a specific portion of the final rule, explain the
reason for any recommended change, and include supporting data. The FAA
will consider all comments received by the closing date and may amend
this final rule because of those comments.
    Except for Confidential Business Information (CBI) as described in
the following paragraph, and other information as described in 14 CFR
11.35, the FAA will post all comments received, without change, to
regulations.gov, including any personal information you provide. The
agency will also post a report summarizing each substantive verbal
contact received about this final rule.

Confidential Business Information

    CBI is commercial or financial information that is both customarily
and actually treated as private by its owner. Under the Freedom of
Information Act (FOIA) (5 U.S.C. 552), CBI is exempt from public
disclosure. If your comments responsive to this AD contain commercial
or financial information that is customarily treated as private, that
you actually treat as private, and that is relevant or responsive to
this AD, it is important that you clearly designate the submitted
comments as CBI. Please mark each page of your submission containing
CBI as ``PROPIN.'' The FAA will treat such marked submissions as
confidential under the FOIA, and they will not be placed in the public
docket of this AD. Submissions containing CBI should be sent to Dat Le,
Aviation Safety Engineer, FAA, 1600 Stewart Avenue, Suite 410,
Westbury, NY 11590; telephone<PHONE_NUMBER>; email [email protected]. Any
commentary that the FAA receives which is not specifically designated
as CBI will be placed in the public docket for this rulemaking.

Background

    The FAA issued AD 2023-04-12, Amendment 39-22359 (88 FR 12143,
February 27, 2023) (AD 2023-04-12), for all Airbus SAS Model A350-941
and -1041 airplanes. AD 2023-04-12 was prompted by an MCAI originated
by EASA, which is the Technical Agent for the Member States of the
European Union. EASA issued AD 2023-0011, dated January 17, 2023 (EASA
AD 2023-0011), to correct an unsafe condition.
    EASA AD 2023-0011 stated that longitudinal sealing tape in the
forward and aft cargo compartments had migrated from its original
position, possibly due to relative movement between the cargo floor
panels and the cargo loading system, combined with compression of the
tape.

    AD 2023-04-12 required repetitive detailed inspection of the
affected parts (i.e., cargo sealing tapes installed between the cargo
floor panels and the cargo loading system in longitudinal direction, in
the forward and aft cargo compartment area), and, depending on
findings, accomplishment of applicable corrective action. The FAA
issued AD 2023-04-12 to address migration of the tape, which can affect
the tightness of the cargo compartment floor panels that provide an
enclosed area to maintain halon concentration in the event of a fire.
This condition, if not addressed, could affect the fire extinguishing
system efficiency in the cargo compartments, possibly resulting in
failure of the system to contain a cargo compartment fire or
permanently extinguish a fire.

Actions Since AD 2023-04-12 Was Issued

    Since the FAA issued AD 2023-04-12, EASA issued AD 2023-0011R1,
dated February 23, 2023 (EASA AD 2023-0011R1) to provide dispatch
instructions under the Master Minimum Equipment List. EASA subsequently
superseded EASA AD 2023-0011R1 and issued EASA AD 2023-0176, dated
October 6, 2023 (EASA AD 2023-0176) (also referred to as the MCAI), to
correct an unsafe condition for all Airbus SAS Model A350-941 and -1041
airplanes. The MCAI states that additional parts (cargo sealing tapes
installed between the cargo floor panels and the floor structure in
transversal direction in the bulk cargo compartment area at frame 82)
have been identified as affected by the same potential unsafe
condition.
    The FAA is issuing this AD to address the unsafe condition on these
products. You may examine the MCAI in the AD docket at regulations.gov
under Docket No. FAA-2023-2142.

Explanation of Retained Requirements

    Although this AD does not explicitly restate the requirements of AD
2023-04-12, this AD retains all of the requirements of AD 2023-04-12.
Those requirements are referenced in EASA AD 2023-0176, which, in turn,
is referenced in paragraph (g) of this AD.

Related Service Information Under 1 CFR Part 51

    EASA AD 2023-0176 specifies procedures for the following actions:
     Repetitive detailed inspections to detect complete or
partial migration of the cargo sealing tapes (including high speed tape
and glass cloth tape) and existing repairs of affected parts (i.e.,
cargo sealing tapes installed between the cargo floor panels and the
cargo loading system in longitudinal direction, in the forward and aft
cargo compartment area; and cargo sealing tapes installed between the
cargo floor panels and the floor structure in transversal direction, in
the bulk cargo compartment area at frame 82).
     Measurement of the maximum migration of partially migrated
tape.
     Inspection for incorrect seating or sealant of repaired
tape.
     Repair of discrepancies, including cargo sealing tape that
has migrated more than 11 millimeters, complete migration of the tape,
incorrect seating/condition of the tape in repaired areas, and
incorrect sealant condition in repaired areas.
    EASA AD 2023-0176 allows deferral of corrective actions through
dispatch of the airplane under specified Airbus A350 Master Minimum
Equipment List items.
    This material is reasonably available because the interested
parties have access to it through their normal course of business or by
the means identified in the ADDRESSES section.

FAA's Determination

    This product has been approved by the aviation authority of another
country and is approved for operation in the United States. Pursuant to
the FAA's bilateral agreement with this State of Design Authority, it
has notified the FAA of the unsafe condition described in the MCAI
referenced above. The FAA is issuing this AD after determining that the
unsafe condition described previously is likely to exist or develop on
other products of the same type design.

Requirements of This AD

    This AD requires accomplishing the actions specified in EASA AD
2023-0176 described previously, except for any differences identified
as exceptions in the regulatory text of this AD.

Explanation of Required Compliance Information

    In the FAA's ongoing efforts to improve the efficiency of the AD
process, the FAA developed a process to use some civil aviation
authority (CAA) ADs as the primary source of information for compliance
with requirements for corresponding FAA ADs. The FAA has been
coordinating this process with manufacturers and CAAs. As a result,
EASA AD 2023-0176 is incorporated by reference in this AD. This AD
requires compliance with EASA AD 2023-0176 in its entirety through that
incorporation, except for any differences identified as exceptions in
the regulatory text of this AD. Using common terms that are the same as
the heading of a particular section in EASA AD 2023-0176 does not mean
that operators need comply only with that section. For example, where
the AD requirement refers to ``all required actions and compliance
times,'' compliance with this AD requirement is not limited to the
section titled ``Required Action(s) and Compliance Time(s)'' in EASA AD
2023-0176. Service information required by EASA AD 2023-0176 for
compliance will be available at regulations.gov under Docket No. FAA-
2023-2142 after this AD is published.

Interim Action

    The FAA considers that this AD is an interim action. If final
action is later identified, the FAA might consider further rulemaking
then.

FAA's Justification and Determination of the Effective Date

    Section 553(b)(3)(B) of the Administrative Procedure Act (APA) (5
U.S.C. 551 et seq.) authorizes agencies to dispense with notice and
comment procedures for rules when the agency, for ``good cause,'' finds
that those procedures are ``impracticable, unnecessary, or contrary to
the public interest.'' Under this section, an agency, upon finding good
cause, may issue a final rule without providing notice and seeking
comment prior to issuance. Further, section 553(d) of the APA
authorizes agencies to make rules effective in less than thirty days,
upon a finding of good cause.
    An unsafe condition exists that requires the immediate adoption of
this AD without providing an opportunity for public comments prior to
adoption. The FAA has found that the risk to the flying public
justifies forgoing notice and comment prior to adoption of this rule
because migration of the sealing tape can affect the tightness of the
cargo compartment floor panels, which provide an enclosed area to
maintain halon concentration in the event of a fire. Migration of the
sealing tape in the forward and aft cargo compartments could affect the
fire extinguishing system efficiency in the cargo compartments and
possibly result in failure of the system to contain a cargo compartment
fire or permanently extinguish the fire. The additional affected
locations in the bulk cargo compartment further increase the effect on
the fire extinguishing system efficiency by widening the area in which
a halon concentration could perpetuate due to migration of the sealing
tape and increasing the likelihood of a failure to contain a cargo

compartment fire or permanently extinguish the fire. Accordingly,
notice and opportunity for prior public comment are impracticable and
contrary to the public interest pursuant to 5 U.S.C. 553(b)(3)(B).
    In addition, the FAA finds that good cause exists pursuant to 5
U.S.C. 553(d) for making this amendment effective in less than 30 days,
for the same reasons the FAA found good cause to forgo notice and
comment.

Regulatory Flexibility Act (RFA)

    The requirements of the RFA do not apply when an agency finds good
cause pursuant to 5 U.S.C. 553 to adopt a rule without prior notice and
comment. Because the FAA has determined that it has good cause to adopt
this rule without notice and comment, RFA analysis is not required.

Costs of Compliance

    The FAA estimates that this AD affects 32 airplanes of U.S.
registry. The FAA estimates the following costs to comply with this AD:

                                      Estimated Costs for Required Actions
----------------------------------------------------------------------------------------------------------------
                                                                                Cost on U.S.
             Action                  Labor cost        Parts cost     Cost per  product          operators
----------------------------------------------------------------------------------------------------------------
Retained actions from AD         Up to 1 work-hour               $0  Up to $85..........  Up to $2,720.
 2023[dash]04[dash]12.            x $85 per hour =
                                  $85.
New actions....................  2 work-hours x $85               0  $170...............  $5,440.
                                  per hour = $170.
----------------------------------------------------------------------------------------------------------------

    The FAA estimates the following costs to do any necessary on-
condition actions that would be required based on the results of any
required actions. The FAA has no way of determining the number of
aircraft that might need these on-condition actions:

                 Estimated Costs of On-Condition Actions
------------------------------------------------------------------------
           Labor cost                Parts cost        Cost per product
------------------------------------------------------------------------
Up to 3 work-hours x $85 per     Up to $10.........  Up to $265.
 hour = $255.
------------------------------------------------------------------------

Authority for This Rulemaking

    Title 49 of the United States Code specifies the FAA's authority to
issue rules on aviation safety. 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.
    The FAA is issuing this rulemaking under the authority described in
Subtitle VII, Part A, Subpart III, Section 44701: General requirements.
Under that section, Congress charges the FAA with promoting safe flight
of civil aircraft in air commerce by prescribing regulations for
practices, methods, and procedures the Administrator finds necessary
for safety in air commerce. This regulation is within the scope of that
authority because it addresses an unsafe condition that is likely to
exist or develop on products identified in this rulemaking action.

Regulatory Findings

    This AD will not have federalism implications under Executive Order
13132. This AD will not have a substantial direct effect on the States,
on the relationship between the national government and the States, or
on the distribution of power and responsibilities among the various
levels of government.
    For the reasons discussed above, I certify that this AD:
    (1) Is not a ``significant regulatory action'' under Executive
Order 12866, and
    (2) Will not affect intrastate aviation in Alaska.

List of Subjects in 14 CFR Part 39

    Air transportation, Aircraft, Aviation safety, Incorporation by
reference, Safety.

The Amendment

    Accordingly, under the authority delegated to me by the
Administrator, the FAA amends 14 CFR part 39 as follows:

PART 39--AIRWORTHINESS DIRECTIVES

0
1. The authority citation for part 39 continues to read as follows:

    Authority: 49 U.S.C. 106(g), 40113, 44701.

Sec.  39.13  [Amended]

0
2. The FAA amends Sec.  39.13 by:
0
a. Removing Airworthiness Directive (AD) 2023-04-12, Amendment 39-22359
(88 FR 12143, February 27, 2023); and
0
b. Adding the following new AD:

2023-22-08 Airbus SAS: Amendment 39-22592; Docket No. FAA-2023-2142;
Project Identifier MCAI-2023-01056-T.

(a) Effective Date

    This airworthiness directive (AD) is effective November 20,
2023.

(b) Affected ADs

    This AD replaces AD 2023-04-12, Amendment 39-22359 (88 FR 12143,
February 27, 2023) (AD 2023-04-12).

(c) Applicability

    This AD applies to all Airbus SAS Model A350-941 and -1041
airplanes, certificated in any category.

(d) Subject

    Air Transport Association (ATA) of America Code 53, Fuselage.

(e) Unsafe Condition

    This AD was prompted by the migration of cargo sealing tape from
its original position between the cargo floor panels and the cargo
loading system in the longitudinal direction in the forward and aft
cargo compartment area, and between the cargo floor panels and the
floor structure in the transversal direction in the bulk cargo
compartment area at frame 82. The FAA is issuing this AD to address
this tape migration, which can affect the tightness of the cargo
compartment floor panels that provide an enclosed area to maintain
halon concentration in the event of a fire. This condition, if not
addressed, could affect the fire extinguishing system efficiency in
the cargo compartments, possibly resulting in failure of the system
to contain a cargo compartment fire or permanently extinguish a
fire.

(f) Compliance

    Comply with this AD within the compliance times specified,
unless already done.

(g) Requirements

    Except as specified in paragraph (h) of this AD: Comply with all
required actions and compliance times specified in, and in
accordance with, European Union Aviation Safety Agency (EASA) AD
2023-0176, dated October 6, 2023 (EASA AD 2023-0176).

(h) Exceptions to EASA AD 2023-0176

    (1) Where EASA AD 2023-0176 refers to ``31 January 2023 [the
effective date of EASA AD 2023-0011],'' this AD requires replacing
those words with ``March 14, 2023 (the effective date of AD 2023-04-
12).''
    (2) Where EASA AD 2023-0176 refers to its effective date, this
AD requires using the effective date of this AD.
    (3) Where paragraph (2) of EASA AD 2023-0176 specifies
accomplishing corrective actions if ``discrepancies, as identified
in the AOT'' are found, for this AD, discrepancies are defined as
cargo sealing tape that has migrated more than 11 millimeters,
complete migration of the tape as shown in Condition B of the
service information reference in EASA AD 2023-0176, incorrect
seating/condition of the tape in repaired areas, and incorrect
sealant condition in repaired areas.
    (4) Where paragraph (2) of EASA AD 2023-0176 specifies
accomplishing corrective actions ``in accordance with the
instructions of the AOT,'' for this AD, replace those words with
``in accordance with the instructions of the AOT for the FWD and AFT
cargo compartment areas and in accordance with the instructions of
Airbus AOT A53P016-22, Revision 03, dated September 13, 2023, or
later approved revisions for the BULK cargo compartment areas.''
    (5) Where the service information referenced in EASA AD 2023-
0176 specifies use of cargo sealing tape 398FR, this AD also allows
use of cargo sealing tape 398FRP.
    (6) This AD does not adopt the ``Remarks'' section of EASA AD
2023-0176.

(i) Additional AD Provisions

    The following provisions also apply to this AD:
    (1) Alternative Methods of Compliance (AMOCs): The Manager,
International Validation Branch, FAA, has the authority to approve
AMOCs for this AD, if requested using the procedures found in 14 CFR
39.19. In accordance with 14 CFR 39.19, send your request to your
principal inspector or responsible Flight Standards Office, as
appropriate. If sending information directly to the manager of the
International Validation Branch, mail it to the address identified
in paragraph (j) of this AD. Information may be emailed to: [email protected].
    (i) Before using any approved AMOC, notify your appropriate
principal inspector, or lacking a principal inspector, the manager
of the responsible Flight Standards Office.
    (ii) AMOCs approved previously for AD 2023-04-12 are approved as
AMOCs for the corresponding provisions of EASA AD 2023-0176 that are
required by paragraph (g) of this AD.
    (2) Contacting the Manufacturer: For any requirement in this AD
to obtain instructions from a manufacturer, the instructions must be
accomplished using a method approved by the Manager, International
Validation Branch, FAA; or EASA; or Airbus SAS's EASA Design
Organization Approval (DOA). If approved by the DOA, the approval
must include the DOA-authorized signature.
    (3) Required for Compliance (RC): Except as required by
paragraph (i)(2) of this AD, if any service information referenced
in EASA AD 2023-0176 that contains paragraphs that are labeled as
RC, the instructions in RC paragraphs, including subparagraphs under
an RC paragraph, must be done to comply with this AD; any
paragraphs, including subparagraphs under those paragraphs, that are
not identified as RC are recommended. The instructions in
paragraphs, including subparagraphs under those paragraphs, not
identified as RC may be deviated from using accepted methods in
accordance with the operator's maintenance or inspection program
without obtaining approval of an AMOC, provided the instructions
identified as RC can be done and the airplane can be put back in an
airworthy condition. Any substitutions or changes to instructions
identified as RC require approval of an AMOC.

(j) Additional Information

    For more information about this AD, contact Dat Le, Aviation
Safety Engineer, FAA, 1600 Stewart Avenue, Suite 410, Westbury, NY
11590; telephone<PHONE_NUMBER>; email [email protected].

(k) Material Incorporated by Reference

    (1) The Director of the Federal Register approved the
incorporation by reference (IBR) of the service information listed
in this paragraph under 5 U.S.C. 552(a) and 1 CFR part 51.
    (2) You must use this service information as applicable to do
the actions required by this AD, unless this AD specifies otherwise.
    (i) European Union Aviation Safety Agency (EASA) AD 2023-0176,
dated October 6, 2023.
    (ii) [Reserved]
    (3) For EASA AD 2023-0176, contact EASA, Konrad-Adenauer-Ufer 3,
50668 Cologne, Germany; telephone +49 221 8999 000; email
[email protected]; website easa.europa.eu. You may find this EASA
AD on the EASA website at ad.easa.europa.eu.
    (4) You may view this material at the FAA, Airworthiness
Products Section, Operational Safety Branch, 2200 South 216th St.,
Des Moines, WA. For information on the availability of this material
at the FAA, call<PHONE_NUMBER>. This material may be found in the AD
docket at regulations.gov under Docket No. FAA-2023-2142.
    (5) You may view this material at the National Archives and
Records Administration (NARA). For information on the availability
of this material at NARA, visit www.archives.gov/federal-register/cfr/[email protected]">www.archives.gov/federal-register/cfr/[email protected].

Ross Landes,
Deputy Director for Regulatory Operations, Compliance & Airworthiness
Division, Aircraft Certification Service.
[FR Doc. 2023-24405 Filed 11-1-23; 11:15 am]
BILLING CODE 4910-13-P


[Federal Register Volume 82, Number 56 (Friday, March 24, 2017)]
[Notices]
[Pages 15090-15091]
[FR Doc No: 2017-05849]

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

SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Release No. 32536; 812-14710]

Investment Managers Series Trust II and Vivaldi Asset Management,
LLC

March 20, 2017.
AGENCY: Securities and Exchange Commission (``Commission'').

ACTION: Notice.

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

    Notice of an application under Section 6(c) of the Investment
Company Act of 1940 (``Act'') for an exemption from Section 15(a) of
the Act and Rule 18f-2 under the Act, as well as from certain
disclosure requirements in Rule 20a-1 under the Act, Item 19(a)(3) of
Form N-1A, Items 22(c)(1)(ii),

22(c)(1)(iii), 22(c)(8) and 22(c)(9) of Schedule 14A under the
Securities Exchange Act of 1934, and Sections 6-07(2)(a), (b), and (c)
of Regulation S-X (``Disclosure Requirements''). The requested
exemption would permit an investment adviser to hire and replace
certain sub-advisers without shareholder approval and grant relief from
the Disclosure Requirements as they relate to fees paid to the sub-
advisers.

Applicants:  Investment Managers Series Trust II (the ``Trust''), a
Delaware statutory trust registered under the Act as an open-end
management investment company with multiple series, and Vivaldi Asset
Management, LLC, a Delaware limited liability company registered as an
investment adviser under the Investment Advisers Act of 1940 (the
``Adviser,'' and, collectively with the Trust, the ``Applicants'').

Filing Dates:  The application was filed on October 21, 2016, and
amended on March 2, 2017.

Hearing or Notification of Hearing:  An order granting the application
will be issued unless the Commission orders a hearing. Interested
persons may request a hearing by writing to the Commission's Secretary
and serving applicants with a copy of the request, personally or by
mail. Hearing requests should be received by the Commission by 5:30
p.m. on April 14, 2017, and should be accompanied by proof of service
on the applicants, in the form of an affidavit or, for lawyers, a
certificate of service. Pursuant to Rule 0-5 under the Act, hearing
requests should state the nature of the writer's interest, any facts
bearing upon the desirability of a hearing on the matter, the reason
for the request, and the issues contested. Persons who wish to be
notified of a hearing may request notification by writing to the
Commission's Secretary.

ADDRESSES: Secretary, U.S. Securities and Exchange Commission, 100 F
Street NE., Washington, DC 20549-1090. Applicants: Trust: 235 West
Galena Street, Milwaukee, WI 53212, and Adviser: 225 West Wacker, Suite
2100, Chicago, IL 60606.

FOR FURTHER INFORMATION CONTACT: Courtney S. Thornton, Senior Counsel,
at<PHONE_NUMBER>, or Daniele Marchesani, Assistant Chief Counsel, at
(202) 551-6821 (Division of Investment Management, Chief Counsel's
Office).

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

Summary of the Application

    1. The Adviser serves as the investment adviser to the Subadvised
Series pursuant to an investment advisory agreement with the Trust (the
``Investment Management Agreement'').\1\ The Adviser will provide the
Subabvised Series with continuous and comprehensive investment
management services subject to the supervision of, and policies
established by, the Subabvised Series' board of trustees
(``Board'').\2\ The Investment Management Agreement permits the
Adviser, subject to the approval of the Board, to delegate to one or
more sub-advisers (each, a ``Sub-Adviser'') the responsibility to
provide the day-to-day portfolio investment management of the
Subabvised Series, subject to the supervision and direction of the
Adviser. The primary responsibility for managing the Subabvised Series
will remain vested in the Adviser. The Adviser will hire, evaluate,
allocate assets to and oversee the Sub-Advisers, including determining
whether a Sub-Adviser should be terminated, at all times subject to the
authority of the Board.
---------------------------------------------------------------------------

    \1\ The initial Subadvised Series is the Vivaldi Multi-Strategy
Fund. Applicants request relief with respect to the named
Applicants, as well as to any future series of the Trust and any
other existing or future registered open-end management company or
series thereof that: (a) Is advised by the Adviser; (b) uses the
manager of managers structure described in the application; and (c)
complies with the terms and conditions of the application
(collectively with the initial Subadvised Series, the ``Subadvised
Series''). The term ``Adviser'' includes (i) the Adviser, (ii) its
successors, and (iii) any entity controlling, controlled by, or
under common control with, the Adviser or its successors. For
purposes of the requested order, ``successor'' is limited to an
entity resulting from a reorganization into another jurisdiction or
a change in the type of business organization.
    \2\ The term ``Board'' includes the board of trustees or
directors of a future Subadvised Series, if different.
---------------------------------------------------------------------------

    2. Applicants request an exemption to permit the Adviser, subject
to Board approval, to hire certain Sub-Advisers pursuant to sub-
advisory agreements and materially amend existing sub-advisory
agreements without obtaining the shareholder approval required under
Section 15(a) of the Act and Rule 18f-2 under the Act.\3\ Applicants
also seek an exemption from the Disclosure Requirements to permit a
Subabvised Series to disclose (as both a dollar amount and a percentage
of the Subadvised Series' net assets): (a) The aggregate fees paid to
the Adviser; and (b) the aggregate fees paid to Sub-Advisers; and (c)
the fee paid to each Affiliated Sub-Adviser (collectively, ``Aggregate
Fee Disclosure'').
---------------------------------------------------------------------------

    \3\ The requested relief will not extend to any sub-adviser that
is an affiliated person, as defined in Section 2(a)(3) of the Act,
of a Subadvised Series or the Adviser, other than by reason of
serving as a sub-adviser to one or more of the Subadvised Series
(``Affiliated Sub-Adviser'').
---------------------------------------------------------------------------

    3. Applicants agree that any order granting the requested relief
will be subject to the terms and conditions stated in the Application.
Such terms and conditions provide for, among other safeguards,
appropriate disclosure to Subadvised Series shareholders and
notification about sub-advisory changes and enhanced Board oversight to
protect the interests of the Subadvised Series' shareholders.
    4. Section 6(c) of the Act provides that the Commission may exempt
any person, security, or transaction or any class or classes of
persons, securities, or transactions from any provisions of the Act, or
any rule thereunder, if such relief is necessary or appropriate in the
public interest and consistent with the protection of investors and
purposes fairly intended by the policy and provisions of the Act.
Applicants believe that the requested relief meets this standard
because, as further explained in the application, the Investment
Management Agreement will remain subject to shareholder approval, while
the role of the Sub-Advisers is substantially similar to that of
individual portfolio managers, so that requiring shareholder approval
of Sub-Advisory Agreements would impose unnecessary delays and expenses
on the Subadvised Series. Applicants believe that the requested relief
from the Disclosure Requirements meets this standard because it will
improve the Adviser's ability to negotiate fees paid to the Sub-
Advisers that are more advantageous for the Subadvised Series.

    For the Commission, by the Division of Investment Management,
under delegated authority.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-05849 Filed 3-23-17; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 87, Number 244 (Wednesday, December 21, 2022)]
[Notices]
[Pages 78171-78175]
[FR Doc No: 2022-27649]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-96502; File No. SR-BOX-2022-31]

Self-Regulatory Organizations; BOX Exchange LLC; Notice of Filing
and Immediate Effectiveness of a Proposed Rule Change To Amend IM-8050-
3 To Establish Functionality That Will Reject Market Maker Quotes When
Those Quotes Would Otherwise Lock or Cross the National Best Bid or
Offer

December 15, 2022.
    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 6, 2022, BOX Exchange LLC (``BOX'' or ``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 self-regulatory organization. The Commission
is publishing this notice to solicit comments on the proposed rule 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 IM-8050-3 to establish functionality
that will reject Market Maker \3\ quotes when those quotes would
otherwise lock or cross the National Best Bid or Offer (``NBBO'').\4\
The text of the proposed rule change is available from the principal
office of the Exchange, at the Commission's Public Reference Room and
also on the Exchange's internet website at https://rules.boxexchange.com/rulefilings.
---------------------------------------------------------------------------

    \3\ Market Makers make markets in options contracts traded on
the Exchange and are vested with the rights and responsibilities
specified in the BOX Rule 8000 Series. See BOX Rule 100(a)(31).
    \4\ NBBO is defined as the national best bid or offer. See BOX
Rule 100(a)(34).
---------------------------------------------------------------------------

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 self-regulatory organization
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 self-regulatory organization
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 purpose of the proposed rule change is to amend Rule IM-8050-3
to establish functionality that will automatically reject a Market
Maker quote that would otherwise lock or cross the NBBO.
Background
    Currently, all Market Maker quotes received on BOX after the
opening of the market will not execute against a resting order or quote
on the BOX Book.\5\ However, if there is no BOX Book for a particular
option or if the BOX Book is inferior to the NBBO, a Market Maker quote
could display at a price that locks or crosses the NBBO.\6\ This
proposal is designed to prevent such occurrences. The following
examples demonstrate the current functionality and interaction of
Market Maker quotes, defined as a bid and offer, with the BOX Book
depending on whether the BOX Book is on the NBBO:
---------------------------------------------------------------------------

    \5\ See BOX Rule IM-8050-3(a).
    \6\ BOX Exchange has policies and procedures in place to ensure
Participant compliance with Rule 15020 (Locked and Crossed Markets).
Rule 15020 provides that, absent an exception, Participants shall
reasonably avoid displaying, and shall not engage in a pattern or
practice of displaying, any Quotations that lock or cross a
Protected Quotation. BOX Exchange surveils for instances where a BOX
Participant, including a Market Maker, displays a quotation which
locks or crosses the NBBO without taking corrective action in a
timely manner. Additionally, violations of Rule 15020 are subject to
disciplinary action as detailed in the Exchange's minor rule
violation plan (``MRVP''). See Rule 12140(d)(12).
---------------------------------------------------------------------------

    Example 1: Assume that the BOX Book in an option is $1.00 bid and
offered at $1.10, hereinafter expressed as 1.00/1.10, and the NBBO is
1.00/1.10. A Market Maker quote of 1.10/1.20 would remove liquidity
from the BOX

Book \7\ because the Market Maker's 1.10 bid equals the BOX Book offer
at 1.10. Each side of the quote is evaluated separately to determine
whether it will be accepted or rejected. As a result, the 1.10 bid will
be rejected and a message will be sent to the Market Maker indicating
that their bid was rejected. The Market Maker's offer will be accepted.
---------------------------------------------------------------------------

    \7\ However, such a quote may execute in a PIP auction before
rejection. See BOX Rule IM-8050-3(b)(2). Pursuant to current Rule
7150(j), when an incoming quote on the opposite side of the PIP
Order is received such that it would cause an execution to occur
prior to the end of the PIP, the incoming quote shall be immediately
executed.
---------------------------------------------------------------------------

    Example 2: Assume the BOX Book in an option is 1.00/1.20, the NBBO
is 1.00/1.10, and a Market Maker sends a quote of 1.10/1.20. In this
case, the BOX Book is inferior to NBBO on the offer. The Market Maker's
bid of 1.10 would not execute against the BOX Book, therefore it would
be displayed in the BOX Book and would be disseminated to the Options
Price Reporting Authority (``OPRA''). In this example, the Market
Maker's bid and offer will be accepted even though the bid of 1.10
would lock the NBO \8\ of 1.10.
---------------------------------------------------------------------------

    \8\ NBO is the national best offer. See BOX Rule 100(a)(34).
---------------------------------------------------------------------------

Proposal
    The Exchange proposes to add functionality that will reject a
Market Maker quote that would otherwise lock or cross the NBBO.
Referring to Example 2 above, under the current functionality, a Market
Maker quote of 1.10/1.20, when displayed in the BOX Book and
disseminated to OPRA, would lock the NBO because the Market Maker's bid
of 1.10 equals the NBO of 1.10. Under this proposal, the 1.10 bid will
be instead rejected and a message will be sent to the Market Maker
indicating that their bid was rejected. Illustrated further, assume
that the BOX Book in an option is 1.00/1.20 and the NBBO is 1.10/1.20.
A Market Maker quote of 1.00/1.10 would lock the NBB \9\ because the
Market Maker's offer of 1.10 equals the NBB of 1.10. Under this
proposal, the 1.10 offer will be rejected and a message will be sent to
the Market Maker indicating that their offer was rejected.
---------------------------------------------------------------------------

    \9\ NBB is the national best bid. See BOX Rule 100(a)(34).
---------------------------------------------------------------------------

    The Exchange notes that BOX Market Makers requested this
functionality to: (1) avoid inadvertently locking or crossing the NBBO;
\10\ and (2) to give themselves the opportunity to re-evaluate their
quoting in the event they are submitting quotes to BOX that are locking
or crossing the NBBO. Additionally, the Exchange is seeking to address
an inconsistency between quote and order handling when the quote or
order would lock or cross the NBBO. Currently, pursuant to Rule 7130(b)
Filtering of BOX In-Bound Orders, orders will not, in the case of a
sell order, execute at a price below the NBB or, in the case of a buy
order, execute at a price above the NBO.\11\ The proposal discussed
herein will produce the same result for quotes on BOX. The Exchange
believes that rejecting quotes that would otherwise lock or cross the
NBBO is beneficial because it will avoid the display of any quotations
that would lock or cross a Protected Quotation.\12\
---------------------------------------------------------------------------

    \10\ BOX Rule 15020(a) Locked and Crossed Markets provides that
Options Participants shall reasonably avoid displaying, and shall
not engage in a pattern or practice of displaying, any Quotations
that lock or cross a Protected Quotation with some exceptions noted
in BOX Rule 15020(b).
    \11\ See BOX Rule 7130(b)(1). The filter will determine if the
order is executable against the NBBO (an order is deemed
``executable against the NBBO'' when, in the case of an order to
sell(buy), its limit price is equal to or lower(higher) than the
best bid(offer) across all options exchanges. By definition, a
Market Order is executable against the NBBO). If the order is not
executable against the NBBO, the order will be placed on the BOX
Book. If the order is executable against the NBBO, the filter will
determine whether there is a quote on BOX that is equal to the NBBO.
If there is a quote on BOX that is equal to the NBBO, then the order
will be executed against the relevant quote. Any remaining quantity
of the order is exposed on the BOX Book at the NBBO for a time
period established by the Exchange, not to exceed one second. At the
end of the exposure period, any unexecuted quantity will be handled
by the Trading Host in the following manner: (i) If the best BOX
price is now equal to the NBBO, the remaining unexecuted quantity
will be placed on the BOX Book and immediately executed against that
quote. Any remaining quantity will be (i) in the case of Public
Customer Eligible Orders, routed to one or more Away Exchanges
displaying the NBBO, or (ii) in the case of market maker or
proprietary broker-dealer orders, returned to the submitting Options
Participant. See BOX Rule 7130(b)(3).
    \12\ A Protected Bid or Protected Offer means a Bid or Offer in
an option series, respectively, that is disseminated pursuant to the
OPRA Plan; and is the Best Bid or Best Offer, respectively,
displayed by an Eligible Exchange. See BOX Rule 15000(o). A
Quotation means a Bid or Offer. See BOX Rule 15000(q).
---------------------------------------------------------------------------

    The Exchange notes that it is not proposing to change the
interaction of an incoming quote with a PIP Order \13\ as incoming
quotes may interact with the PIP before being rejected.\14\ Under the
proposal, the incoming quote will continue to cause the PIP to end
early if the conditions of Rule 7150(i) \15\ exist. Specifically, under
the current functionality, after the PIP is concluded, if the incoming
quote would execute against resting orders or quotes on the BOX Book,
the relevant side will continue to be rejected.\16\ Further, under the
proposed functionality, if the incoming quote would lock or cross the
BOX Book or the NBBO,\17\ the relevant side will be rejected.
Additionally, when an incoming quote on the opposite side of the PIP
Order is received such that it would cause an execution to occur prior
to the end of the PIP, the incoming quote shall be immediately executed
pursuant to Rule 7150(j). In order for the incoming quote on the
opposite side of the PIP Order to execute against the PIP Order, the
conditions of Rule 7150(j) must be met.\18\ Under this proposal, any
remaining balance of the incoming quote that did not execute against
the PIP Order, and that would execute against a resting order or quote
on the BOX Book or that would lock or cross the NBBO, will be rejected.
The following examples demonstrate interaction between incoming quotes
and a PIP Order both currently and under the proposal:
---------------------------------------------------------------------------

    \13\ PIP Orders are customer orders designated for the PIP. See
BOX Rule 7150(f).
    \14\ See BOX Rule IM-8050-3(b).
    \15\ Specifically, Rule 7150(i) provides that in cases where an
Unrelated Order is submitted to BOX on the same side as the PIP
Order, or a Legging Order is generated during the PIP on the BOX
Book on the same side as the PIP Order, such that either would cause
an execution to occur prior to the end of the PIP, the PIP shall be
deemed concluded and the PIP Order shall be matched pursuant to
7150(g). Specifically, the submission to BOX of a Market Order on
the same side as a PIP Order will prematurely terminate the PIP
when, at the time of the submission of the Market Order, the best
Improvement Order is equal to or better than the NBBO on the same
side of the market as the best Improvement Order. The submission to
BOX of an executable Limit Order or generation of an executable
Legging Order on the same side as a PIP Order will prematurely
terminate the PIP if at the time of submission: (1) the Buy (Sell)
Limit Order or Legging Order price is equal to or higher (lower)
than the National Best Offer (Bid) and either: (i) the BOX Best
Offer (Bid) is equal to the National Best Offer (Bid); or (ii) the
BOX Best Offer (Bid) is higher (lower) than the National Best Offer
(Bid) and the price of the best Improvement Order is equal to or
lower (higher) than the National Best Offer (Bid); or (2) the Buy
(Sell) Limit Order or Legging Order price is lower (higher) than the
National Best Offer (Bid) and its limit price equals or crosses the
price of the best Improvement Order. Following the execution of the
PIP Order, any remaining Improvement Orders are cancelled and the
Market Order or Limit Order is filtered pursuant to Rule 7130(b).
    \16\ See BOX Rule IM-8050-3(a).
    \17\ See proposed Rule IM-8050-3(a)(1).
    \18\ Specifically, Rule 7150(j) states that a Market Order on
the opposite side of a PIP Order will immediately execute against
the PIP Order when, at the time of the submission of the Market
Order, the best Improvement Order does not cross the NBBO on the
same side of the market as the PIP Order. The submission of an
executable Limit Order or generation of an executable Legging Order
on the opposite side of a PIP Order will immediately execute against
a PIP Order when the Sell (Buy) Limit Order price is equal to or
crosses the National Best Bid (Offer), and: (1) the BOX Best Bid
(Offer) is equal to the National Best Bid (Offer); or (2) the BOX
Best Bid (Offer) is lower (higher) than the National Best Bid
(Offer) and neither the best Improvement Order nor BOX Best Offer
(Bid) is equal to or crosses the National Best Bid (Offer).

Example 1: Incoming Quote Trades against PIP Order

BOX BBO: 2.03 bid and 2.10 offer
NBBO: 2.03 bid and 2.10 offer
PIP Order: Buy 5 contracts for 2.05
Incoming Quote: Sell 10 contracts at 2.03

    The incoming quote will execute 5 contracts against the PIP Order.
In this case, the best BOX price on the opposite side of the market
from the quote is 2.03, the NBB is 2.03, and the order will execute one
penny better than the NBBO at 2.04 because the best BOX price on the
opposite side of the market from the quote is equal to the NBBO.\19\
The PIP will then be terminated because the PIP Order was filled and
the remaining 5 contracts of the incoming quote that would lock the NBB
will be rejected. The Exchange notes that this quote would also be
rejected because it would remove liquidity from the BOX Book.\20\
---------------------------------------------------------------------------

    \19\ See BOX Rule 7150(j).
    \20\ See BOX Rule IM-8050-3(a).

Example 2: Incoming Quote Terminates PIP
BOX BBO: 2.00 bid and 2.06 offer
NBBO: 2.00 bid and 2.06 offer
PIP Order: Buy 5 contracts for 2.05
Incoming Quote: Buy 10 contracts for 2.06

    The incoming quote would lock the NBO and will be rejected. The
quote submitted to BOX will not interact with the PIP Order because it
is on the same side as the PIP Order, such that it would cause an
execution to occur prior to the end of the PIP, in which case the PIP
will terminate and the PIP Order will be matched.\21\ The Exchange
notes that this quote would also be rejected because it would remove
liquidity from the BOX Book.\22\
---------------------------------------------------------------------------

    \21\ The PIP shall be deemed concluded pursuant to BOX Rule
7150(i) and the PIP Order will be matched pursuant to Rule 7150(g).
    \22\ See BOX Rule IM-8050-3(a).
---------------------------------------------------------------------------

    Lastly, the Exchange notes that as is the case today, rejected
quotes will not be considered when determining a Market Maker's quoting
obligations.\23\
---------------------------------------------------------------------------

    \23\ On a daily basis, a Market Maker must, during regular
market hours, make markets and enter into any resulting transactions
consistent with the applicable quoting requirements, such that on a
daily basis a Market Maker must post valid quotes at least sixty
percent (60%) of the time that the classes are open for trading.
These obligations apply to all of the Market Maker's appointed
classes collectively, rather than on a class-by-class basis. See
Rule 8050(e). See also Rule 8040.
---------------------------------------------------------------------------

    Other options exchanges provide functionality similar to the
proposed changes discussed herein. Specifically, in the situation where
an incoming quote would lock or cross the NBBO, other exchanges adjust
quote prices to one minimum price variation (``MPV'') below the NBO for
bids and one MPV above the NBB for offers.\24\ Similar to this
proposal, other exchanges offer market makers a choice between having
their quote rejected or repriced.\25\ For simplicity, the Exchange is
proposing to reject quotes that would otherwise lock or cross the NBBO,
which would allow Market Makers the opportunity to reevaluate, reprice,
and resend quotes to BOX. The Exchange believes that rejecting Market
Maker quotes is simpler for both BOX and BOX Market Makers because a
quote sent to BOX is either added to the BOX Book or rejected. This
results in no uncertainty regarding the price. Further, the Exchange
chose not to add functionality that would reprice a quote that would
otherwise lock or cross the NBBO so the respective Market Makers have
the opportunity to resubmit their quote to BOX at a price of their
choosing. Thus, the Exchange believes that the proposed change may
provide Market Makers with greater control over their quotes and may
encourage Market Makers to provide greater liquidity to BOX given this
flexibility.
---------------------------------------------------------------------------

    \24\ See Miami International Securities Exchange, LLC Rules
514(f)(1)(i) and 515(d) and MIAX Emerald, LLC Rules 514(f)(1)(i) and
515(d) (repricing quotes continuously until the Market Maker quote
reaches its original limit price, is fully executed or cancelled).
See also Nasdaq Stock Market LLC Rules Options 3, Section 4(b)(6)
and Section 15(c)(3) and Nasdaq BX, Inc. Rules Options 3, Section
4(b)(6) and Section 15(c)(3).
    \25\ See Nasdaq ISE, LLC Rule Options 3, Section 4(b)(6) and
Nasdaq GEMX, LLC Rule Options 3, Section 4(b)(6) and Nasdaq MRX, LLC
Rule Options 3, Section 4(b)(6) and Cboe EDGX Exchange, Inc. Rule
21.1(l) and Cboe C2 Exchange, Inc. Rules 5.32(b)-(c) and Cboe
Exchange, Inc. Rules 5.32(b)-(c).
---------------------------------------------------------------------------

    BOX plans to provide this functionality during the fourth calendar
quarter of 2022. The Exchange will distribute an Informational Circular
to Participants prior to implementation of this functionality.
2. Statutory Basis
    The Exchange believes that the proposal is consistent with the
requirements of Section 6(b) of the Act,\26\ in general, and Section
6(b)(5) of the Act,\27\ in particular, in that it is designed to
promote just and equitable principles of trade, remove impediments to
and perfect the mechanism of a free and open market and a national
market system, and, in general protect investors and the public
interest. The Exchange believes that rejecting Market Maker quotes that
would otherwise lock or cross the NBBO may provide Maker Makers with
greater control over their quotes on BOX because a quote sent to BOX is
either added to the BOX Book or rejected. As discussed above, this
results in no uncertainty regarding the price. Further, the Exchange
chose not to add functionality that would reprice a quote that would
otherwise lock or cross the NBBO so the respective Market Maker has the
opportunity to resubmit their quote to BOX at a price of their
choosing. The Exchange believes this change will assist Market Makers
in reducing their regulatory risk, maintaining a fair and orderly
market, and in quoting with greater confidence which may lead Market
Makers to quote with larger sizes or tighter bid to offer spreads on
BOX, that could then benefit all BOX Participants, increasing price
discovery, and potentially increasing trading activity.
---------------------------------------------------------------------------

    \26\ 15 U.S.C. 78f(b).
    \27\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Exchange also believes the proposed functionality will also
provide Market Makers with protection from inadvertently submitting
quotes that lock or cross the NBBO \28\ and from trading on those
quotes, thus promoting the policy goals of the Commission that has
encouraged execution venues, exchanges, and non-exchanges alike, to
enhance risk protection tools and other mechanisms to decrease
regulatory risk and increase stability. Additionally, the benefits of
enhanced risk protections and other mechanisms to decrease risk may
flow downstream to counterparties both within and away from the
Exchange, thereby increasing systemic protections as well.
---------------------------------------------------------------------------

    \28\ Except for quotations that fall within the provisions of
15020(b), Options Participants shall reasonably avoid displaying,
and shall not engage in a pattern or practice of displaying, any
Quotations that lock or cross a Protected Quotation. See BOX Rule
15020(a).
---------------------------------------------------------------------------

    The Exchange notes further, a Market Maker that produces erroneous
quotes causing displayed markets to lock or cross the NBBO may cause
erroneous trading activity and disrupt markets. The Exchange believes
that rejecting Market Maker quotes that would otherwise lock or cross
the NBBO will reduce the likelihood of BOX displaying quotes that lock
or cross the NBBO, which is consistent with the Options Order
Protection and Locked/Crossed Market Plan (``the Plan'').\29\ The
Exchange notes that as a party to the Plan, the Exchange has agreed to
comply with, and enforce compliance by BOX Options Participants, which
includes avoidance of Trade-Throughs and prohibition against a pattern
or practice of displaying any quotations that lock or cross a Protected
Quotation.\30\ This proposal is designed

to aid the Exchange in enforcing such compliance.
---------------------------------------------------------------------------

    \29\ See BOX Rule 15020.
    \30\ See BOX Rule 15010.
---------------------------------------------------------------------------

    Lastly, the Exchange again notes that the proposed changes have no
impact on the interaction of an incoming quote with a PIP Order and
have no impact on a Market Maker's obligations pursuant to current BOX
Rules 8040 and 8050. Market Makers will continue to be subject to the
obligations detailed in these rules.
    As such, the Exchange believes the proposed rule change is in the
public interest, and therefore, consistent with the Act.

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

    The Exchange does not believe that the proposed rule change would
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act.
    Market Makers are required to provide continuous two-sided quotes
on a daily basis and are subject to various obligations associated with
providing liquidity on BOX. BOX Participants' orders are already
provided NBBO protection and either routed (if eligible) or rejected
immediately.\31\ The proposed change would afford quotes a similar
level of protection to assist Market Makers in managing their unique
risks and obligations. Further, the proposed change will not impose any
burden on intramarket competition as the proposed change will apply to
all Market Makers on BOX. Lastly, the Exchange again notes that Market
Makers have requested that BOX implement the proposed protections.
---------------------------------------------------------------------------

    \31\ See BOX Rule 7130(b).
---------------------------------------------------------------------------

    The Exchange believes that the proposed change will not impose any
burden on intermarket competition as other exchanges offer similar
functionality.\32\ Further, the proposed change may encourage
intermarket competition by improving compliance with the Plan, which
includes avoidance of Trade-Throughs and prohibition against a pattern
or practice of displaying any quotations that lock or cross a Protected
Quotation. As such, 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.
---------------------------------------------------------------------------

    \32\ See supra, notes 24, 25.
---------------------------------------------------------------------------

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

    The Exchange has neither solicited nor received comments on the
proposed rule change.

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) of the Act \33\ and Rule 19b-
4(f)(6) thereunder.\34\
---------------------------------------------------------------------------

    \33\ 15 U.S.C. 78s(b)(3)(A).
    \34\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change, along
with a brief description and text of 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.
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) \35\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b-4(f)(6)(iii),\36\ the Commission
may designate a shorter time if such action is consistent with the
protection of investors and the public interest. The Exchange has asked
the Commission to waive the 30-day operative delay. The Commission
believes that waiving the 30-day operative delay is consistent with the
protection of investors and the public interest. Waiver of the
operative delay would allow the Exchange to immediately offer the
functionality that will reject Market Maker quotes when those quotes
would otherwise lock or cross the NBBO, which is consistent with the
Options Order Protection and Locked/Crossed Market Plan. Accordingly,
the Commission hereby waives the operative delay and designates the
proposed rule change operative upon filing.\37\
---------------------------------------------------------------------------

    \35\ 17 CFR 240.19b-4(f)(6).
    \36\ 17 CFR 240.19b-4(f)(6)(iii).
    \37\ For purposes only of waiving the 30-day operative delay,
the Commission also 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 necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings to
determine whether the proposed rule change 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 protected]. Please include
File Number SR-BOX-2022-31 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-BOX-2022-31. 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-BOX-2022-31 and should be
submitted on or before January 11, 2023.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\38\
---------------------------------------------------------------------------

    \38\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2022-27649 Filed 12-20-22; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 81, Number 133 (Tuesday, July 12, 2016)]
[Notices]
[Pages 45141-45142]
[FR Doc No: 2016-16395]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Notice of Staff Attendance at the Southwest Power Pool Regional
State Committee Meeting

    The Federal Energy Regulatory Commission hereby gives notice that
members of its staff may attend the meeting of the Southwest Power
Pool, Inc. Regional State Committee as noted below. Their attendance is
part of the Commission's ongoing outreach efforts.
    The meeting will be held on July 18, 2016 from 10:00 a.m. to 4:00
p.m. Central Time. The location of the meeting is at the Westin DFW
Hotel, 4545 West John Carpenter Freeway, Irving, TX 75063. The hotel
phone number is<PHONE_NUMBER>.
    The discussions may address matters at issue in the following
proceedings:

Docket No. ER11-1844, Midcontinent Independent System Operator, Inc.
Docket No. EL12-60, Southwest Power Pool, Inc., et al.
Docket No. ER12-959, Southwest Power Pool, Inc.
Docket No. ER12-1179, Southwest Power Pool, Inc.
Docket No. ER12-1586, Southwest Power Pool, Inc.
Docket No. EL15-66, Southern Company Services, et al. v. Midcontinent
Independent System Operator, Inc.
Docket No. EL15-77, Morgan Stanley Capital Group Inc. v. Midcontinent
Independent System Operator, Inc.
Docket No. ER14-1183, Southwestern Electric Power Company
Docket No. ER14-2445, Midcontinent Independent System Operator, Inc.
Docket No. ER14-2850, Southwest Power Pool, Inc.
Docket No. ER15-1499, Southwest Power Pool, Inc.
Docket No. ER15-1775, Southwest Power Pool, Inc.
Docket No. ER15-1777, Southwest Power Pool, Inc.
Docket No. ER15-1943, Southwest Power Pool, Inc.
Docket No. ER15-1976, Southwest Power Pool, Inc.
Docket No. ER15-2028, Southwest Power Pool, Inc.
Docket No. ER15-2069, Northwestern Corporation
Docket No. ER15-2115, Southwest Power Pool, Inc.
Docket No. ER15-2265, Southwest Power Pool, Inc.
Docket No. ER15-2324, Southwest Power Pool, Inc.
Docket No. ER15-2347, Southwest Power Pool, Inc.
Docket No. ER15-2351, Southwest Power Pool, Inc.
Docket No. ER15-2356, Southwest Power Pool, Inc.
Docket No. EC16-53, South Central MCN, LLC
Docket No. EL16-20, Grid Assurance LLC
Docket No. EL16-70, Cottonwood Wind Project, LLC v. Nebraska Public
Power District
Docket No. ER16-13, Southwest Power Pool, Inc.
Docket No. ER16-204, Southwest Power Pool, Inc.
Docket No. ER16-209, Southwest Power Pool, Inc.

Docket No. ER16-228, Southwest Power Pool, Inc.
Docket No. ER16-791, Southwest Power Pool, Inc.
Docket No. ER16-829, Southwest Power Pool, Inc.
Docket No. ER16-846, Southwest Power Pool, Inc.
Docket No. ER16-862, Southwest Power Pool, Inc.
Docket No. ER16-863, Southwest Power Pool, Inc.
Docket No. ER16-932, Southwest Power Pool, Inc.
Docket No. ER16-1086, Southwest Power Pool, Inc.
Docket No. ER16-1211, Midcontinent Independent System Operator, Inc.
Docket No. ER16-1286, Southwest Power Pool, Inc.
Docket No. ER16-1305, Southwest Power Pool, Inc.
Docket No. ER16-1351, Westar Energy, Inc.
Docket No. ER16-1355, Westar Energy, Inc.
Docket No. ER16-1314, Southwest Power Pool, Inc.
Docket No. ER16-1341, Southwest Power Pool, Inc.
Docket No. ER16-1544, Southwest Power Pool, Inc.
Docket No. ER16-1546, Southwest Power Pool, Inc.
Docket No. ER16-1605, Southwestern Electric Power Company
Docket No. ER16-1618, Southwest Power Pool, Inc.
Docket No. ER16-1676, Southwest Power Pool, Inc.
Docket No. ER16-1709, Southwest Power Pool, Inc.
Docket No. ER16-1710, Southwest Power Pool, Inc.
Docket No. ER16-1711, Southwest Power Pool, Inc.
Docket No. ER16-1712, Southwest Power Pool, Inc.
Docket No. ER16-1713, Southwest Power Pool, Inc.
Docket No. ER16-1715, Southwest Power Pool, Inc.
Docket No. ER16-1772, Public Service Company of Colorado
Docket No. ER16-1774, Southwest Power Pool, Inc.
Docket No. ER16-1797, Midcontinent Independent System Operator, Inc.
Docket No. ER16-1799, Southwest Power Pool, Inc.
Docket No. ER16-1812, Southwestern Electric Power Company
Docket No. ER16-1814, Southwest Power Pool, Inc.
Docket No. ER16-1826, Southwest Power Pool, Inc.
Docket No. ER16-1905, Southwest Power Pool, Inc.
Docket No. ER16-1912, Southwest Power Pool, Inc.
Docket No. ER16-1945, Southwest Power Pool, Inc.
Docket No. ER16-1951, Southwest Power Pool, Inc.
Docket No. ER16-1959, Southwest Power Pool, Inc.
Docket No. ER16-1989, Southwest Power Pool, Inc.

    These meetings are open to the public.
    For more information, contact Patrick Clarey, Office of Energy
Market Regulation, Federal Energy Regulatory Commission at (317) 249-
5937 or<EMAIL_ADDRESS>
    Dated: July 5, 2016.
Kimberly D. Bose,
Secretary.
[FR Doc. 2016-16395 Filed 7-11-16; 8:45 am]
 BILLING CODE 6717-01-P