[Federal Register Volume 78, Number 78 (Tuesday, April 23, 2013)]
[Rules and Regulations]
[Pages 23843-23845]
[FR Doc No: 2013-09548]

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

DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 100

[Docket No. USCG-2013-0015]
RIN 1625-AA08

Special Local Regulations; Moss Point Rockin' the Riverfront
Festival; Robertson Lake & O'Leary Lake; Moss Point, MS

AGENCY: Coast Guard, DHS.

ACTION: Temporary final rule.

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

SUMMARY: The Coast Guard is establishing a temporary special local
regulation for a portion of Robertson Lake & O'Leary Lake, Moss Point,
MS. This action is necessary for the safeguard of participants and
spectators, including all crews, vessels, and persons on navigable
waters during the Moss Point Rockin' the Riverfront Festival high speed
boat races. Entry into, transiting or anchoring in this area is
prohibited to all vessels not registered with the sponsor as
participants or not part of the regatta patrol, unless specifically
authorized by the Captain of the Port Mobile or a designated
representative.

DATES: This rule is effective from 11 a.m. on April 27, 2013, until 4
p.m. on April 28, 2013. This rule will be enforced from 11 a.m. to 4
p.m. on April 27 and April 28, 2013.

ADDRESSES: Documents mentioned in this preamble are part of docket
USCG-2013-0015. To view documents mentioned in this preamble as being
available in the docket, go to http://www.regulations.gov, type the
docket number in the ``SEARCH'' box and click ``SEARCH''. Click on Open
Docket Folder on the line associated with this rulemaking. You may also
visit the Docket Management Facility in Room W12-140 on the ground
floor of the Department of Transportation West Building, 1200 New
Jersey Avenue SE., Washington, DC 20590, between 9 a.m. and 5 p.m.,
Monday through Friday, except Federal holidays.

FOR FURTHER INFORMATION CONTACT: If you have questions on this
temporary rule, call or email LT Lenell J. Carson, Sector Mobile,
Waterways Division, U.S. Coast Guard; telephone<PHONE_NUMBER>, email
<EMAIL_ADDRESS>If you have questions on viewing or
submitting material to the docket, call Barbara Hairston, Program
Manager, Docket Operations, telephone<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Table of Acronyms

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

A. Regulatory History and Information

    The Coast Guard published a NPRM in the Federal Register on
February 12, 2013 (78 FR 9866), providing proper notice and opportunity
to comment on this rule. No comments were received and there were no
requests for a public meeting.

B. Basis and Purpose

    The Moss Point Main Street Association applied for a Marine Event
Permit to conduct a high speed boat race on Robertson Lake & O'Leary
Lake, Moss Point, MS on April 27-28, 2013. This event will draw in a
large number of pleasure craft and the high speed boats pose a
significant safety hazard to both vessels and mariners operating in or
near the area. The COTP Mobile is establishing a temporary special
local regulation for a portion of Robertson Lake & O'Leary Lake, Moss
Point, MS. This temporary special local regulation is deemed necessary
to safeguard persons and vessels during the high speed boat races. The
legal basis and authorities for this rule are found in 33 U.S.C. 1233
and 33 CFR part 100, which authorizes the Coast Guard to propose,
establish, and define regulatory special local regulations for safety
during marine events.
    The COTP anticipates minimal impact on vessel traffic due to this
regulation. However, the temporary special local regulation is deemed
necessary for the safeguard of life and property within the COTP Mobile
zone.

C. Discussion of Comments, Changes and the Temporary Final Rule

    There were no comments received by the Coast Guard during the NPRM
process.

    The Coast Guard is establishing a temporary special local
regulation for a portion of Robertson Lake & O'Leary Lake, Moss Point,
MS, enclosed by a bounded area starting at a point on the shore at
approximately 30[deg]25'11.0'' N, 088 32'24.4'' W, then east to
30[deg]25'12.9'' N, 088 32'18.0'' W, then south to 30[deg]24'50.9'' N,
088 32'09.6'' W, then west following the shore line back to the
starting point at 30[deg]25'11.0'' N, 088 32'24.4'' W. This temporary
rule will safeguard life and property in this area. Entry into,
transiting or anchoring in this zone is prohibited to all vessels not
registered with the sponsor as participants or not part of the regatta
patrol, unless specifically authorized by the COTP Mobile or a
designated representative. They may be contacted on VHF-FM Channel 16
or through Coast Guard Sector Mobile at<PHONE_NUMBER>.
    The COTP Mobile or a designated representative will inform the
public through broadcast notice to mariners of changes in the effective
period for the temporary special local regulation. This rule is
effective from April 27, 2013 through April 28, 2013.

D. Regulatory Analyses

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

1. Regulatory Planning and Review

    This rule is not a significant regulatory action under section 3(f)
of Executive Order 12866, Regulatory Planning and Review, as
supplemented by Executive Order 13563, Improving Regulation and
Regulatory Review, and does not require an assessment of potential
costs and benefits under section 6(a)(3) of Executive Order 12866 or
under section 1 of Executive Order 13563. The Office of Management and
Budget has not reviewed it under those Orders.
    The temporary special local regulation listed in this rule will
only restrict vessel traffic from entering or transiting a small
portion of Robertson Lake & O'Leary Lake, Moss Point, MS. The effect of
this regulation will not be significant for several reasons: (1) This
rule will only affect vessel traffic for a short duration; (2) vessels
may request permission from the COTP to transit through the regulated
area; and (3) the impacts on routine navigation are expected to be
minimal. Notifications to the marine community will be made through
Local Notice to Mariners and Broadcast Notice to Mariners. These
notifications will allow the public to plan operations around the
affected area.

2. Impact on Small Entities

    The Regulatory Flexibility Act of 1980 (RFA), 5 U.S.C. 601-612, as
amended, requires federal agencies to consider the potential impact of
regulations on small entities during rulemaking. The term ``small
entities'' comprises small businesses, not-for-profit organizations
that are independently owned and operated and are not dominant in their
fields, and governmental jurisdictions with populations of less than
50,000. The Coast Guard received 0 comments from the Small Business
Administration on this rule. The Coast Guard certifies under 5 U.S.C.
605(b) that this rule will not have a significant economic impact on a
substantial number of small entities. This rule will affect the
following entities, some of which may be small entities: the owners or
operators of vessels intending to transit or anchor in the affected
portion of the Robertson Lake & O'Leary Lake during the high speed boat
races. This temporary special local regulation will not have a
significant economic impact on a substantial number of small entities
for the following reasons. The regulated area is limited in size, is of
short duration and vessel traffic may request permission from the COTP
Mobile or a designated representative to enter or transit through the
regulated area.

3. Assistance for Small Entities

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

4. Collection of Information

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

5. Federalism

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

6. Protest Activities

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

7. Unfunded Mandates Reform Act

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

8. Taking of Private Property

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

9. Civil Justice Reform

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

10. Protection of Children From Environmental Health Risks

    We have analyzed this under Executive Order 13045, Protection of
Children from Environmental Health Risks and Safety Risks. This rule is
not

an economically significant rule and does not create an environmental
risk to health or risk to safety that may disproportionately affect
children.

11. Indian Tribal Governments

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

12. Energy Effects

    This rule is not a ``significant energy action'' under Executive
Order 13211, Actions Concerning Regulations That Significantly Affect
Energy Supply, Distribution, or Use.

13. Technical Standards

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

14. Environment

    We have analyzed this rule under Department of Homeland Security
Management Directive 023-01 and Commandant Instruction M16475.lD, which
guide the Coast Guard in complying with the National Environmental
Policy Act of 1969 (NEPA) (42 U.S.C. 4321-4370f), and have made a
preliminary determination that this action is one of a category of
actions which do not individually or cumulatively have a significant
effect on the human environment. This rule involves safety for the
public and is not expected to result in any significant adverse
environmental impact as described in NEPA. This rule is categorically
excluded from further review under paragraph 34(h) of Figure 2-1 of the
Commandant Instruction. An environmental analysis checklist supporting
this determination and a Categorical Exclusion Determination are
available in the docket where indicated under ADDRESSES.

List of Subjects 33 CFR Part 100

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

    For the reasons discussed in the preamble, the Coast Guard amends
33 CFR part 100 as follows:

PART 100--SAFETY OF LIFE ON NAVIGABLE WATERS

0
1. The authority citation for part 100 continues to read as follows:

    Authority: 33 U.S.C. 1233.

0
2. Add Sec.  100.T08-0015 to read as follows:

Sec.  100.T08-0015  Special Local Regulation; Moss Point Rockin' the
Riverfront Festival; Robertson Lake & O'Leary Lake; Moss Point, MS.

    (a) Location. The following area is a regulated area: a portion of
Robertson Lake & O'Leary Lake, Moss Point, MS, enclosed by a bounded
area starting at a point on the shore at approximately 30[deg]25'11.0''
N, 088 32'24.4'' W, then east to 30[deg]25'12.9'' N, 088 32'18.0'' W,
then south to 30[deg]24'50.9'' N, 088 32'09.6'' W, then west following
the shore line back to the starting point at 30[deg]25'11.0'' N, 088
32'24.4'' W.
    (b) Effective date. This rule is effective from 11 a.m. on April
27, 2013, until 4 p.m. on April 28, 2013. This rule will be enforced
from 11 a.m. to 4 p.m. on April 27 and April 28, 2013.
    (c) Special Local Regulations. (1) The Coast Guard will patrol the
regulated area under the direction of a designated Coast Guard Patrol
Commander. The Patrol Commander may be contacted on Channel 16 VHF-FM
(156.8 MHz) by the call sign ``PATCOM''.
    (2) All Persons and vessels not registered with the sponsor as
participants or official patrol vessels are considered spectators. The
``official patrol vessels'' consist of any Coast Guard, state, or local
law enforcement and sponsor provided vessels assigned or approved by
the Captain of the Port Mobile to patrol the regulated area.
    (3) Spectator vessels desiring to transit the regulated area may do
so only with prior approval of the Patrol Commander and when so
directed by that officer and will be operated at a minimum safe
navigation speed in a manner which will not endanger participants in
the regulated area or any other vessels.
    (4) No spectator shall anchor, block, loiter, or impede the through
transit of participants or official patrol vessels in the regulated
area during the effective dates and times, unless cleared for entry by
or through an official patrol vessel.
    (5) The patrol commander may forbid and control the movement of all
vessels in the regulated area. When hailed or signaled by an official
patrol vessel, a vessel shall come to an immediate stop and comply with
the directions given. Failure to do so may result in expulsion from the
area, citation for failure to comply, or both.
    (6) Any spectator vessel may anchor outside the regulated area, but
may not anchor in, block, or loiter in a navigable channel. Spectator
vessels may be moored to a waterfront facility within the regulated
area in such a way that they shall not interfere with the progress of
the event. Such mooring must be complete at least 30 minutes prior to
the establishment of the regulated area and remain moored through the
duration of the event.
    (7) The Patrol Commander may terminate the event or the operation
of any vessel at any time it is deemed necessary for the protection of
life or property.
    (8) The Patrol Commander will terminate enforcement of the special
local regulations at the conclusion of the event.
    (d) Informational broadcasts. The Captain of the Port or a
designated representative will inform the public through broadcast
notices to mariners of the enforcement period for the regulated area as
well as any changes in the planned schedule.

    Dated: March 18, 2013.
D.J. Rose,
Captain, U.S. Coast Guard, Captain of the Port, Mobile.
[FR Doc. 2013-09548 Filed 4-22-13; 8:45 am]
BILLING CODE 9110-04-P


[Federal Register: April 20, 2010 (Volume 75, Number 75)]
[Notices]
[Page 20615-20616]
[DOCID:fr20ap10-74]

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

DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2010-N-0195]

Risk Profile: Pathogens and Filth in Spices: Request for Comments
and for Scientific Data and Information

AGENCY:  Food and Drug Administration, HHS.

ACTION:  Notice; request for comments and for scientific data and
information.

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

SUMMARY:  The Food and Drug Administration (FDA) is requesting comments
and scientific data and information that would assist the agency in its
plans to conduct a risk profile for pathogens and filth in spices. The
purpose of the risk profile is to ascertain the current state of
knowledge about spices contaminated with microbiological pathogens and/
or filth, and the effectiveness of current and potential new
interventions to reduce or prevent illnesses from contaminated spices.

DATES:  Submit electronic or written comments and scientific data and
information by June 21, 2010.

ADDRESSES:  Submit electronic comments and scientific data and
information to http://www.regulations.gov. Submit written comments and
scientific data and information to the Division of Dockets Management
(HFA-305), Food and Drug Administration, 5630 Fishers Lane, rm. 1061,
Rockville, MD 20852.

FOR FURTHER INFORMATION CONTACT:  Sherri B. Dennis, Center for Food
Safety and Applied Nutrition (HFS-005), Food and Drug Administration,
5100 Paint Branch Pkwy., College Park, MD 20740,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

I. Background

    A risk profile is a science-based document that describes the
current state of knowledge about a specific food safety problem or
issue and provides an evaluation of the data and information to support
current interventions or new approaches to reduce or prevent illnesses
(Ref. 1). FDA has adapted this tool as a new approach to assist the
agency in its regulatory decisionmaking. Unlike a quantitative risk
assessment, which provides information about the number of people
affected by a hazard in food and how this number might be changed if
various control options were implemented, a risk profile provides
qualitative answers to questions about the hazard and options for
controlling it, based on available data. The information in a risk
profile may affect a range of decisions, such as whether or not to
commission a quantitative risk assessment or a request for research, or
whether or not to implement an immediate and/or provisional regulatory
decision. In some cases, it may reveal that no further action is
needed.
    The risk profile for pathogens and filth in spices will provide
information for FDA to use in the development of plans to reduce or
prevent illness from spices contaminated by microbial pathogens and/or
filth. Concerns regarding the effectiveness of current control measures
to reduce or prevent illness from spices have been renewed by recent
outbreaks of Salmonella associated with spices, including the imported
ground white and black pepper products linked to an April 2009 outbreak
of Salmonella Rissen illness, and the black and red pepper products
recalled in March 2010 in response to an outbreak of Salmonella
Montevideo illness (Refs. 2 and 3).
    For the purpose of this risk profile, the term ``spice'' means any
aromatic vegetable substances in the whole, broken, or ground form,
except for those substances which have been traditionally regarded as
foods, whose significant function in food is seasoning rather than
nutritional, and from which no portion of any volatile oil or other
flavoring principle has been removed. The specific hazards in spices to
be considered in this risk profile include those microbiological
pathogens and filth in spices that are identified in the published
literature, outbreaks, recalls, and submissions to the Reportable Food
Registry (RFR).\1\ For purposes of this risk profile, FDA considers
``filth'' to mean ``extraneous materials'' as defined in FDA's Defect
Levels Handbook (Ref. 4). The Defect Levels Handbook defines
``extraneous materials'' as ``any foreign matter in a product
associated with objectionable conditions or practices in production,
storage, or distribution * * * [including] objectionable matter
contributed by insects, rodents, and birds; decomposed material; and
miscellaneous matter such as sand, soil, glass, rust, or other foreign
substances.''
---------------------------------------------------------------------------

    \1\ The RFR is an electronic portal where responsible parties
are required to file a report when there is a reasonable probability
that the use of, or exposure to, an article of food will cause
serious adverse health consequences or death to humans or animals
(Ref. 5).
---------------------------------------------------------------------------

    The overall objectives of the risk profile are to:
     Describe the nature and extent of the public health risk,
by identifying the most commonly occurring microbial and filth hazards
in spices;
     Describe and evaluate current mitigation and control
options;
     Identify potential additional mitigation or control
options;
     Identify research needs and data gaps.
    The specific questions to be addressed by the risk profile include:
     What is known about the frequency and levels of pathogen
and/or filth contamination of spices throughout the food supply chain
(e.g., on the farm, at primary processing/manufacturing, intermediary
processing (where spices are used as ingredients in multi-component
products), distribution (including importation), retail sale/use, and
the consumer's home)?
     What is known about differences in production and
contamination of imported and domestic spices?
     What is known about the effectiveness, cost, and
practicality of currently available and potential future interventions
to prevent human illnesses associated with pathogen and/or filth
contamination of spices (e.g., practices and/or technologies to reduce
or prevent contamination, surveillance, inspection, import strategies,
or guidance)?
     What are the highest priority research needs related to
prevention or reduction of pathogens and/or filth in spices?

II. Request for Comments and for Scientific Data and Information

    FDA is requesting comments on the risk profile approach outlined
previously in this document and the submission of scientific data and
information relevant to the risk profile. The agency is particularly
interested in the following types of information:
    1. Data, including unpublished data, on the incidence of
contamination in spices according to:
    a. Date tested,
    b. Country exporting the spice and/or country of origin if
different,
    c. Type of spice,
    d. Pathogen(s) and/or filth type (e.g., insect, rodent,
extraneous),
    e. Quantitative (enumeration) or qualitative (presence/absence)
results, and
    f. Other product sample information (e.g., pre- or post-treatment,
treatment type, stage of production/processing).

    2. Factors that influence the survival, growth, and levels of
pathogens in spices including:
    a. On-farm practices,
    b. Manufacturing, processing, or marketing practices,
    c. Shipping, storage, and distribution practices,
    d. Storage conditions encountered throughout the farm-to-table
continuum, and
    e. Pathways for transfer of pathogens to spices, including data on
frequencies or amounts of transfer (e.g., cross-contamination
potential).
    3. Consumption patterns (including serving size and frequency) in
the United States.
    4. Intended use (e.g., ready-to-eat, ingredient in a prepared
food).
    5. Manufacturing practices, including the use of spices as
ingredients in prepared foods.
    6. Data, including unpublished data, on the identity and
effectiveness of control measures or interventions to reduce levels and
frequency of pathogens and/or filth in spices during growing,
harvesting, processing, manufacturing, packaging, storage, and
transportation prior to retail sale including:
    a. Description of treatment or other control measure,
    b. Country exporting spice using this treatment/control measure,
    c. Name of the specific spice and its form (e.g., whole, cracked,
ground),
    d. Effect of the treatment/control measure on pathogen and/or filth
levels, and
    e. Types of validation protocols used to verify the effectiveness
of treatment/control measures.
    7. Data relating to supplier specifications including required
treatments, performance standards, microbial testing, and audit
programs.
    8. Any other data related to the occurrence and control of
pathogens and/or filth in spices that are applicable to the risk
profile.

III. Comments

    Interested persons may submit to the Division of Dockets Management
(see ADDRESSES) electronic or written comments and scientific data and
information regarding this document. Submit a single copy of electronic
comments and scientific data and information to http://
www.regulations.gov or two copies of any mailed comments and scientific
data and information, except that individuals may submit one paper
copy. Submissions are to be identified with the docket number found in
brackets in the heading of this document. Received comments and
scientific data and information may be seen in the Division of Dockets
Management between 9 a.m. and 4 p.m., Monday through Friday.

IV. References

    We have placed the following references on display in the Division
of Dockets Management (see ADDRESSES). You may see them between 9 a.m.
and 4 p.m., Monday through Friday. FDA has verified the Web site
addresses, but FDA is not responsible for any subsequent changes to the
Web sites after this document publishes in the Federal Register.
    1. Codex Alimentarius Commission, 19th Procedural Manual, http:/
/www.codexalimentarius.net/web/procedural_manual.jsp, accessed
April 13, 2010.
    2. Food and Drug Administration, ``FDA Alerts the Public to
Uncle Chen and Lian How Brand Dry Spice Product Recall,'' April 2,
2009, http://www.fda.gov/NewsEvents/Newsroom/PressAnnouncements/
2009/ucm149555.htm, accessed April 13, 2010.
    3. Food and Drug Administration, ``FDA Update on the
Investigation into the Salmonella Montevideo Outbreak,'' March 17,
2010, http://www.fda.gov/NewsEvents/Newsroom/PressAnnouncements/
ucm204917.htm, accessed April 13, 2010.
    4. Food and Drug Administration, Defect Levels Handbook, http://
www.fda.gov/Food/GuidanceComplianceRegulatoryInformation/
GuidanceDocuments/Sanitation/ucm056174.htm, accessed April 13, 2010.
    5. Food and Drug Administration, ``Reportable Food Registry for
Industry,'' http://www.fda.gov/food/foodsafety/FoodSafetyPrograms/
RFR/default.htm, accessed April 13, 2010.

    Dated: April 14, 2010.
Leslie Kux,
Acting Assistant Commissioner for Policy.
[FR Doc. 2010-9010 Filed 4-19-10; 8:45 am]
BILLING CODE 4160-01-S


[Federal Register Volume 88, Number 116 (Friday, June 16, 2023)]
[Rules and Regulations]
[Page 39360]
[FR Doc No: 2023-12860]

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

DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 165

[Docket No. USCG-2023-0492]

Safety Zone; Lower Mississippi River, Mile Markers 94 to 97 Above
Head of Passes, New Orleans, LA--Essence Festival Fireworks Display

AGENCY: Coast Guard, DHS.

ACTION: Notification of enforcement of regulation.

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

SUMMARY: The Coast Guard will enforce a safety zone for the Essence
Festival fireworks display located on the navigable waters of the Lower
Mississippi River between mile marker (MM) 94.5 and MM 95.5. Our
regulation for Safety Zones; Lower Mississippi River, mile markers 94
to 97 above Head of Passes, New Orleans, LA, in 33 CFR 165.845,
identifies the regulated area for this event. This action is necessary
to provide for the safety of life on these navigable waterways during
this event. During the enforcement periods, as reflected in Sec.
165.845(c), entry into this safety zone is prohibited unless authorized
by the Captain of the Port or a designated representative.

DATES: The regulations in 33 CFR 165.845 will be enforced from 9:30
p.m. until 10:30 p.m. on July 1, 2023.

FOR FURTHER INFORMATION CONTACT: If you have questions about this
notification of enforcement, call or email Lieutenant Commander William
Stewart, Sector New Orleans, U.S. Coast Guard; telephone<PHONE_NUMBER>,
email [email protected].

SUPPLEMENTARY INFORMATION: The Coast Guard will enforce a safety zone
in 33 CFR 165.845 for the Essence Festival fireworks display event.
This safety zone will be enforced from 9:30 p.m. through 10:30 p.m. on
July 1, 2023. This action is being taken to provide for the safety of
life on these navigable waterways during this event. Our regulation for
Safety Zones; Lower Mississippi River, mile markers 94 to 97 above Head
of Passes, New Orleans, LA, in 33 CFR 165.845(a), specifies the
location of the regulated area on the Lower Mississippi River, between
MM 94.5 and MM 95.5. During the enforcement period, as reflected in
Sec.  165.845(c), entry into this safety zone is prohibited unless
authorized by the Captain of the Port or a designated representative.
    In addition to this notification of enforcement in the Federal
Register, the Coast Guard plans to provide notification of this
enforcement period via Marine Safety Information Bulletin and Broadcast
Notice to Mariners.

    Dated: June 12, 2023.
K.K. Denning,
Captain, U.S. Coast Guard, Captain of the Port Sector New Orleans.
[FR Doc. 2023-12860 Filed 6-15-23; 8:45 am]
BILLING CODE 9110-04-P


[Federal Register Volume 85, Number 33 (Wednesday, February 19, 2020)]
[Notices]
[Pages 9468-9469]
[FR Doc No: 2020-03222]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. CP20-47-000]

PennEast Pipeline Company, LLC; Notice of Application

    Take notice that on January 30, 2020, PennEast Pipeline Company,
LLC (PennEast), 835 Knitting Mills Way, Wyomissing, PA 19610, filed in
Docket No. CP20-47-000 an application (2020 Amendment) pursuant to
section 7(c) of the Natural Gas Act (NGA) and Part 157 of the
Commission's regulations for authorization to amend the certificate of
public convenience and necessity for the PennEast Pipeline Project
(Project) that was granted on January 19, 2018.\1\ The Project
comprises approximately 116 miles of 36-inch-diameter pipeline, three
(3) lateral pipelines, one compressor station, and related
appurtenances located in Pennsylvania and New Jersey. The certificated
facilities will provide up to 1,107,000 dekatherms per day of new firm
natural gas transportation capacity.
---------------------------------------------------------------------------

    \1\ PennEast Pipeline Company, LLC, 162 FERC 61,053 (2018);
order on reh'g, 164 FERC 61,098 (2018).
---------------------------------------------------------------------------

    PennEast states that it has encountered delays in obtaining certain
New Jersey governmental authorizations and in acquiring certain real
property rights for the proposed Project facilities. Therefore, with
the 2020 Amendment application PennEast requests authorization to
construct, own, and operate the certificated Project in two phases. The
facilities proposed to be located in Pennsylvania through approximate
milepost (MP) 68 of the Certificated Route, including two of the
compressor units at the Kidder Compressor Station, as well as new
interconnection facilities in Pennsylvania, are included as part of
Phase 1, which is independent of the New Jersey authorizations. The
proposed facilities located downstream of approximately MP 68,
including facilities proposed to be located in New Jersey, as well as
the third compressor unit at the Kidder Compressor Station, are
included as part of Phase 2. PennEast also requested authorization to
charge its proposed initial recourse rate for service on the Phase 1
facilities, and its revised initial recourse rates for service on the
entire Project following completion of Phase 2. PennEast anticipates to
place the Phase 1 facilities into service on November 1, 2021, and to
construct, own and operate the Phase 2 facilities upon receipt of the
New

Jersey authorizations, all as more fully set forth in the application
which is on file with the Commission and open to public inspection. The
filing is available for review at the Commission in the Public
Reference Room or may be viewed on the Commission's website web at
http://www.ferc.gov using the ``eLibrary'' link. Enter the docket
number excluding the last three digits in the docket number field to
access the document. For assistance, contact FERC at
<EMAIL_ADDRESS>or call toll-free,<PHONE_NUMBER> or TYY,
(202) 502-8659.
    Any questions concerning this application may be directed to
Jeffrey D. England, Project Manager, PennEast Pipeline Company, LLC,
835 Knitting Mills Way, Wyomissing, PA 19610, by telephone at (610)
373-7999, by facsimile at<PHONE_NUMBER>, or by email at
<EMAIL_ADDRESS>    Pursuant to section 157.9 of the Commission's rules (18 CFR 157.9),
within 90 days of this Notice, the Commission staff will issue a Notice
of Schedule for Environmental Review. If a Notice of Schedule for
Environmental Review is issued, it will indicate, among other
milestones, the anticipated date for the Commission staff's issuance of
the environmental assessment (EA) for this proposal. The issuance of a
Notice of Schedule for Environmental Review will serve to notify
federal and state agencies of the timing for the completion of all
necessary reviews, and the subsequent need to complete all federal
authorizations within 90 days of the date of issuance of the Commission
staff's EA.
    There are two ways to become involved in the Commission's review of
this project. First, any person wishing to obtain legal status by
becoming a party to the proceedings for this project should, on or
before the comment date stated below file with the Federal Energy
Regulatory Commission, 888 First Street NE, Washington, DC 20426, a
motion to intervene in accordance with the requirements of the
Commission's Rules of Practice and Procedure (18 CFR 385.214 or
385.211) and the Regulations under the NGA (18 CFR 157.10). A person
obtaining party status will be placed on the service list maintained by
the Secretary of the Commission and will receive copies of all
documents filed by the applicant and by all other parties. A party must
submit seven copies of filings made in the proceeding with the
Commission and must mail a copy to the applicant and to every other
party. Only parties to the proceeding can ask for court review of
Commission orders in the proceeding.
    However, a person does not have to intervene in order to have
comments considered. The second way to participate is by filing with
the Secretary of the Commission, as soon as possible, an original and
two copies of comments in support of or in opposition to this project.
The Commission will consider these comments in determining the
appropriate action to be taken, but the filing of a comment alone will
not serve to make the filer a party to the proceeding. The Commission's
rules require that persons filing comments in opposition to the project
provide copies of their protests only to the party or parties directly
involved in the protest.
    Persons who wish to comment only on the environmental review of
this project should submit an original and two copies of their comments
to the Secretary of the Commission. Environmental commenters will be
placed on the Commission's environmental mailing list, will receive
copies of the environmental documents, and will be notified of meetings
associated with the Commission's environmental review process.
Environmental commenters will not be required to serve copies of filed
documents on all other parties. However, the non-party commenters will
not receive copies of all documents filed by other parties or issued by
the Commission (except for the mailing of environmental documents
issued by the Commission) and will not have the right to seek court
review of the Commission's final order.
    As of the February 27, 2018 date of the Commission's order in
Docket No. CP16-4-001, the Commission will apply its revised practice
concerning out-of-time motions to intervene in any new NGA section 3 or
section 7 proceeding.\2\ Persons desiring to become a party to a
certificate proceeding are to intervene in a timely manner. If seeking
to intervene out-of-time, the movant is required to show good cause why
the time limitation should be waived, and should provide justification
by reference to factors set forth in Rule 214(d)(1) of the Commission's
Rules and Regulations.\3\
---------------------------------------------------------------------------

    \2\ Tennessee Gas Pipeline Company, L.L.C., 162 FERC ] 61,167 at
] 50 (2018).
    \3\ 18 CFR 385.214(d)(1).
---------------------------------------------------------------------------

    The Commission strongly encourages electronic filings of comments,
protests and interventions in lieu of paper using the eFiling link at
http://www.ferc.gov. Persons unable to file electronically should
submit an original and three copies of the protest or intervention to
the Federal Energy Regulatory Commission, 888 First Street NE,
Washington, DC 20426.
    Comment Date: 5 p.m. Eastern Time on March 4, 2020.

    Dated: February 12, 2020.
Kimberly D. Bose,
Secretary.
[FR Doc. 2020-03222 Filed 2-18-20; 8:45 am]
 BILLING CODE 6717-01-P


[Federal Register Volume 85, Number 162 (Thursday, August 20, 2020)]
[Notices]
[Pages 51518-51521]
[FR Doc No: 2020-18202]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-89554; File No. SR-BX-2020-018]

Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Amend the
Exchange's Transaction Credits, at Equity 7, Section 118(a)

August 14, 2020.
    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 August 3, 2020, Nasdaq BX, Inc. (``BX'' or ``Exchange'') filed
with the Securities and Exchange Commission (``SEC'' or ``Commission'')
the proposed rule change as described in Items I, II, and III below,
which Items have been prepared by the Exchange. The Commission is
publishing this notice to solicit comments on the proposed rule change
from interested persons.
---------------------------------------------------------------------------

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

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

    The Exchange proposes to amend the Exchange's transaction credits,
at Equity 7, Section 118(a).
    The text of the proposed rule change is available on the Exchange's
website at https://listingcenter.nasdaq.com/rulebook/bx/rules, at the
principal office of the Exchange, and at the Commission's Public
Reference Room.

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

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

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

1. Purpose
    The Exchange operates on the ``taker-maker'' model, whereby it
generally pays credits to members that take liquidity and charges fees
to members that provide liquidity. Currently, the Exchange has a
schedule, at Equity 7, Section 118(a), which consists of several
different credits that it provides for orders in securities priced at
$1 or more per share that access liquidity on the Exchange and several
different charges that it assesses for orders in such securities that
add liquidity on the Exchange.
    Over the course of the last few months, the Exchange has
experimented with various reformulations of its pricing schedule with
the aim of increasing activity on the Exchange, improving market
quality, and increasing market share.\3\ Although these changes have
met with some success, the Exchange has yet to achieve the results it
desires. Accordingly, the Exchange proposes to again revise its pricing
schedule, in large part, in a further attempt to improve the
attractiveness of the market to new and existing participants.
---------------------------------------------------------------------------

    \3\ See Securities Exchange Act Release No. 34-89114 (June 22,
2020), 85 FR 38418 (June 26, 2020) (SR-BX-2020-011); Securities
Exchange Act Release No. 34-88857 (May 12, 2020), 85 FR 29766 (May
18, 2020) (SR-BX-2020-008); Securities Exchange Act Release No. 34-
87271 (October 10, 2019), 84 FR 55621 (October 17, 2019) (SR-BX-
2019-035); Securities Exchange Act Release No. 34-87271 [sic]
(September 24, 2019), 84 FR 57530 (October 25, 2019) (SR-BX-2019-
031); Securities Exchange Act Release No. 34-86120 (June 17, 2019);
84 FR 29270 (June 21, 2019) (SR-BX-2019-026 [sic]); Securities
Exchange Act Release No. 34-85912 (May 22, 2019); 84 FR 24834 (May
29, 2019) (SR-BX-2019-013).
---------------------------------------------------------------------------

Description of the Changes
    The Exchange proposes to revise its schedule of credits to add one
new credit. Specifically, the Exchange proposes to provide a $0.0018
per share executed credit (for securities in Tapes A and B) and a
$0.0017 per share executed credit (for securities in Tape C) for orders
that access liquidity (excluding orders with Midpoint pegging and
excluding orders that receive price improvement and execute against an
order with a Non-displayed price) entered by a member that: (i)
Accesses at least 35% more liquidity, as a percentage of total
Consolidated Volume during a month, than it did during July 2020; (ii)
accesses liquidity equal to or exceeding 0.01% of total Consolidated
Volume during a month; and (iii) adds liquidity equal to or exceeding
an average daily volume of 50,000 shares for the month. The Exchange
believes that that the availability of the new credits will incentivize
members to grow their existing level of liquidity removal activity on
the Exchange, and in particular, to grow such levels relative to a
baseline of such activity. In doing so, the Exchange intends to improve
the overall quality and attractiveness of the Nasdaq BX market.
Impact of the Changes
    Those participants that act as net removers of liquidity from the
Exchange will benefit directly from the proposed addition of new
credits that would apply to orders that remove liquidity from the
Exchange. Other participants will also benefit from the new credit
insofar as any ensuing increase in liquidity removal activity will
improve the overall quality of the market.
    The Exchange notes that its proposal is not otherwise targeted at
or expected to be limited in its applicability to a specific segment(s)
of market participants nor will it apply differently to different types
of market participants.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\4\ in general, and furthers the objectives of Sections
6(b)(4) and 6(b)(5) of the Act,\5\ in particular, in that it provides
for the equitable allocation of reasonable dues, fees and other charges
among members and issuers and other persons using any facility, and is
not designed to permit unfair discrimination between customers,
issuers, brokers, or dealers. The proposal is also consistent with
Section 11A of the Act relating to the establishment of the national
market system for securities.
---------------------------------------------------------------------------

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

The Proposal is Reasonable
    The Exchange's proposed change to its schedule of credits is
reasonable in several respects. As a threshold matter, the Exchange is
subject to significant competitive forces in the market for equity
securities transaction services that constrain its pricing
determinations in that market. The fact that this market is competitive
has long been recognized by the courts. In NetCoalition v. Securities
and Exchange Commission, the D.C. Circuit stated as follows: ``[n]o one
disputes that competition for order flow is `fierce.' . . . As the SEC
explained, `[i]n the U.S. national market system, buyers and sellers of
securities, and the broker-dealers that act as their order-routing
agents, have a wide range of choices of where to route orders for
execution'; [and] `no exchange can afford to take its market share
percentages for granted' because `no exchange possesses a monopoly,
regulatory or otherwise, in the execution of order flow from broker
dealers'. . . .'' \6\
---------------------------------------------------------------------------

    \6\ NetCoalition v. SEC, 615 F.3d 525, 539 (D.C. Cir. 2010)
(quoting Securities Exchange Act Release No. 59039 (December 2,
2008), 73 FR 74770, 74782-83 (December 9, 2008) (SR-NYSEArca-2006-
21)).
---------------------------------------------------------------------------

    The Commission and the courts have repeatedly expressed their
preference for competition over regulatory intervention in determining
prices, products, and services in the securities markets. In Regulation
NMS, while adopting a series of steps to improve the current market
model, the Commission highlighted the importance of market forces in
determining prices and SRO revenues and, also, recognized that current
regulation of the market system ``has been remarkably successful in
promoting market competition in its broader forms that are most
important to investors and listed companies.'' \7\
---------------------------------------------------------------------------

    \7\ Securities Exchange Act Release No. 51808 (June 9, 2005), 70
FR 37496, 37499 (June 29, 2005) (``Regulation NMS Adopting
Release'').
---------------------------------------------------------------------------

    Numerous indicia demonstrate the competitive nature of this market.
For example, clear substitutes to the Exchange exist in the market for
equity security transaction services. The Exchange is only one of
several equity venues to which market participants may direct their
order flow, and it represents a small percentage of the overall market.
It is also only one of several taker-maker exchanges. Competing equity
exchanges offer similar tiered pricing structures to that of the
Exchange, including schedules of rebates and fees that apply based upon

members achieving certain volume thresholds.\8\
---------------------------------------------------------------------------

    \8\ See CBOE EDGA Fee Schedule, at https://markets.cboe.com/us/equities/membership/fee_schedule/edga/; NYSE National Fee Schedule,
at https://www.nyse.com/publicdocs/nyse/regulation/nyse/NYSE_National_Schedule_of_Fees.pdf.
---------------------------------------------------------------------------

    Within this environment, market participants can freely and often
do shift their order flow among the Exchange and competing venues in
response to changes in their respective pricing schedules.\9\
Separately, the Exchange has provided the SEC staff with multiple
examples of instances where pricing changes by BX and other exchanges
have resulted in shifts in exchange market share. Within the foregoing
context, the proposal represents a reasonable attempt by the Exchange
to increase its liquidity and market share relative to its competitors.
---------------------------------------------------------------------------

    \9\ The Exchange perceives no regulatory, structural, or cost
impediments to market participants shifting order flow away from it.
In particular, the Exchange notes that these examples of shifts in
liquidity and market share, along with many others, have occurred
within the context of market participants' existing duties of Best
Execution and obligations under the Order Protection Rule under
Regulation NMS.
---------------------------------------------------------------------------

    The Exchange has designed its proposed schedule of credits to
provide increased overall incentives to members to increase their
liquidity removal activity on the Exchange. An increase in liquidity
removal activity on the Exchange will, in turn, improve the quality of
the Nasdaq BX market and increase its attractiveness to existing and
prospective participants. Generally, the proposed new credit will be
comparable to, if not favorable to, those that its competitors
provide.\10\
---------------------------------------------------------------------------

    \10\ See n. 8, supra.
---------------------------------------------------------------------------

    The Exchange notes that those participants that are dissatisfied
with the proposed credit are free to shift their order flow to
competing venues that offer them higher credits.
The Proposal is an Equitable Allocation of Credits
    The Exchange believes its proposal will allocate its proposed new
credit fairly among its market participants. It is equitable for the
Exchange to increase its credits to participants whose orders remove
liquidity from the Exchange as a means of incentivizing increased
liquidity removal activity on the Exchange as well as to tie the
receipt of the credits to the member engaging in a threshold volume of
combined liquidity removal activity on the Exchange. Furthermore, it is
equitable for the Exchange to propose higher credits for participants
with orders in securities in Tapes A and B than it proposes for
participants with orders in Tape C due to the Exchange's desire to
specifically promote increased liquidity removal activity in securities
in Tapes A and B. An increase in overall liquidity removal activity on
the Exchange will improve the quality of the Nasdaq BX market and
increase its attractiveness to existing and prospective participants.
    Any participant that is dissatisfied with the proposed new credit
is free to shift their order flow to competing venues that provide more
favorable pricing or less stringent qualifying criteria.
The Proposed Credit is not Unfairly Discriminatory
    The Exchange believes that the proposal is not unfairly
discriminatory. As an initial matter, the Exchange believes that
nothing about its volume-based tiered pricing model is inherently
unfair; instead, it is a rational pricing model that is well-
established and ubiquitous in today's economy among firms in various
industries--from co-branded credit cards to grocery stores to cellular
telephone data plans--that use it to reward the loyalty of their best
customers that provide high levels of business activity and incent
other customers to increase the extent of their business activity. It
is also a pricing model that the Exchange and its competitors have long
employed with the assent of the Commission. It is fair because it
incentivizes customer activity that increases liquidity, enhances price
discovery, and improves the overall quality of the equity markets.
    The Exchange intends for its proposal to improve market quality for
all members on the Exchange and by extension attract more liquidity to
the market, improving market wide quality and price discovery. Both net
removers and net adders of liquidity to the Exchange stand to benefit
directly from the proposed change. That is, to the extent that the
proposed changes increase liquidity a removal activity on the Exchange,
this will improve market quality and the attractiveness of the Nasdaq
BX market, to the benefit of all existing and prospective participants.
    Furthermore, it is not unfairly discriminatory for the Exchange to
propose a higher credit for participants with orders in securities in
Tapes A and B than it proposes for participants with orders in Tape C
because the Exchange seeks to promote increased liquidity removal
activity specifically in securities in Tapes A and B.
    Moreover, any participant that is dissatisfied with the proposed
new credit is free to shift their order flow to competing venues that
provide more favorable pricing or less stringent qualifying criteria.

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

    The Exchange does not believe that the proposed rule change will
impose any burden on competition not necessary or appropriate in
furtherance of the purposes of the Act.
Intramarket Competition
    The Exchange does not believe that its proposal will place any
category of Exchange participant at a competitive disadvantage. As
noted above, all members of the Exchange will benefit from any increase
in market activity that the proposal effectuates. Members may grow or
modify their businesses so that they can receive the higher credit.
Moreover, members are free to trade on other venues to the extent they
believe that the credit provided is not attractive. As one can observe
by looking at any market share chart, price competition between
exchanges is fierce, with liquidity and market share moving freely
between exchanges in reaction to fee and credit changes. The Exchange
notes that the tier structure is consistent with broker-dealer fee
practices as well as the other industries, as described above.
Intermarket Competition
    Addressing whether the proposal could impose a burden on
competition on other SROs that is not necessary or appropriate, the
Exchange believes that its proposed modifications to its schedule of
credits will not impose a burden on competition because the Exchange's
execution services are completely voluntary and subject to extensive
competition both from the other 12 live exchanges and from off-exchange
venues, which include 34 alternative trading systems. The Exchange
notes that it operates in a highly competitive market in which market
participants can readily favor competing venues if they deem fee levels
at a particular venue to be excessive, or rebate opportunities
available at other venues to be more favorable. In such an environment,
the Exchange must continually adjust its credits to remain competitive
with other exchanges and with alternative trading systems that have
been exempted from compliance with the statutory standards applicable
to exchanges. Because competitors are free to modify their own credits
in response, and because market participants may readily adjust their
order routing practices, the Exchange believes that the degree to which
credits changes in this market may impose any

burden on competition is extremely limited.
    The proposed restated schedule of credits is reflective of this
competition because, as a threshold issue, the Exchange is a relatively
small market so its ability to burden intermarket competition is
limited. In this regard, even the largest U.S. equities exchange by
volume has less than 17-18% market share, which in most markets could
hardly be categorized as having enough market power to burden
competition. Moreover, as noted above, price competition between
exchanges is fierce, with liquidity and market share moving freely
between exchanges in reaction to fee and credit changes. This is in
addition to free flow of order flow to and among off-exchange venues
which presently comprises approximately 40% of industry volume.
    The Exchange intends for the proposed change to its schedule of
credits to increase member incentives to engage in the removal of
liquidity from the Exchange. These changes are procompetitive and
reflective of the Exchange's efforts to make it an attractive and
vibrant venue to market participants.
    In sum, if the changes proposed herein is unattractive to market
participants, it is likely that the Exchange will lose market share as
a result. Accordingly, the Exchange does not believe that the proposed
changes will impair the ability of members or competing order execution
venues to maintain their competitive standing in the financial markets.

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

    No written comments were either solicited or received.

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

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act.\11\
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78s(b)(3)(A)(ii).
---------------------------------------------------------------------------

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

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-BX-2020-018 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-BX-2020-018. 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-BX-2020-018, and should be submitted on
or before September 10, 2020.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
J. Matthew DeLesDernier,
Assistant Secretary.

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

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

[FR Doc. 2020-18202 Filed 8-19-20; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 80, Number 103 (Friday, May 29, 2015)]
[Notices]
[Pages 30746-30747]
[FR Doc No: 2015-12970]

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

SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Release No. 31645; File No. 812-14363]

KCAP Financial, Inc.; Notice of Application

May 21, 2015.
AGENCY: Securities and Exchange Commission (``Commission'').

ACTION: Notice of an application for an order under section 23(c)(3) of
the Investment Company Act of 1940 (the ``Act'') for an exemption from
section 23(c) of the Act.

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

Summary of the Application: KCAP Financial, Inc. (``Company'') requests
an order to amend a prior order \1\ that permits the Company to issue
Restricted Stock \2\ to the Company's Employees \3\ under the terms of
its Amended and Restated 2006 Equity Incentive Plan, as further amended
and restate effective June 20, 2014 (the ``Incentive Plan''). The
Company seeks to amend the Prior Order to permit it to engage in
certain transactions in connection with the Incentive Plan that may
constitute purchases by the Company of its own securities within the
meaning of section 23(c) of the Act.
---------------------------------------------------------------------------

    \1\ Investment Company Act Release Nos. 28168 (Feb. 25, 2008)
(notice) and 28199 (Mar. 24, 2008) (order) (the ``Prior Order'').
    \2\ As defined in the Prior Order.
    \3\ As defined in the Prior Order.

Filing Dates: The application was filed on September 22, 2014, and
---------------------------------------------------------------------------
amended on January 28, 2015, May 15, 2015, and May 21, 2015.

Hearing or Notification of Hearing:  An order granting the requested
relief will be issued unless the Commission orders a hearing.
Interested persons may request a hearing by writing to the Commission's
Secretary and serving applicant with a copy of the request, personally
or by mail. Hearing requests should be received by the Commission by
5:30 p.m. on June 15, 2015, and should be accompanied by proof of
service on applicant, 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, Securities and Exchange Commission, 100 F Street
NE., Washington, DC 20549-1090. Applicant: c/o Dayl W. Pearson,
President and Chief Executive Officer, KCAP Financial, Inc., 295
Madison Avenue, 6th Floor, New York, NY 10017.

FOR FURTHER INFORMATION CONTACT:  Steven I. Amchan, Senior Counsel, at
(202) 551-6826, or David P. Bartels, Branch Chief, at<PHONE_NUMBER>,
(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 for the
applicant using the Company name box, at http://www.sec.gov/search/search.htm or by calling<PHONE_NUMBER>.
    Applicant's Representations:
    1. The Company is an internally managed, non-diversified, closed-
end investment company that has elected to be regulated as a business
development company (``BDC'') under the Act. The Incentive Plan
authorizes the Company, among other things, to grant to its Employees
in accordance with the terms and conditions of the Prior Order (i)
Restricted Stock and (ii) options to acquire shares of the Company's
common stock, par value $0.01 per share (``Common Stock'') in
accordance with section 61(a)(3)(B) of the Act. The Company seeks to
amend the Prior Order to permit it to withhold shares of the Company's
Common Stock or purchase shares of Common Stock from the Participants
\4\ to satisfy tax withholding obligations related to the vesting of
Restricted Stock or the exercise of options to purchase shares of
Common Stock granted pursuant to the Incentive Plan. In addition, the
Company seeks to permit Participants to pay the exercise price of
options to purchase shares of Common Stock granted pursuant to the
Incentive Plan with shares of Common Stock already held by them or
pursuant to a net share settlement feature.\5\ The Company will
continue to comply with all of the terms and conditions of the Prior
Order.
---------------------------------------------------------------------------

    \4\ As defined in the Prior Order.
    \5\ Net share settlement allows the Company to deliver only gain
shares (i.e., shares of its Common Stock with a Fair Market Value
(as defined below) equal to the option spread upon exercise)
directly to the optionee without the need for the optionee to sell
shares of Common Stock on the open market or borrow cash from third
parties in order to exercise his or her options. The Company states
that the Board has determined to use the closing sales price of the
Common Stock on the NASDAQ Global Select Market (or any other such
exchange on which the Common Stock may be traded in the future) on
the date of the applicable transaction or other event as the fair
market value (``Fair Market Value'') with respect to the Common
Stock for all purposes under the Incentive Plan.
---------------------------------------------------------------------------

    2. On the date that any Restricted Stock vests, such vested shares
of the Restricted Stock are released to the Participant and are
available for sale or transfer.\6\ The Company states that value of the
vested shares is deemed to be wage compensation for the Employee. As
discussed more fully in the application, upon the exercise of certain
options the amount by which the Fair Market Value of the shares of the
Company's Common Stock, determined as of the date of exercise, exceeds
the exercise price will be treated as ordinary income to the recipient
of the option in the year of exercise. The Company states that any
compensation income recognized by an employee generally is subject to
federal withholding for

income and employment tax purposes. The Incentive Plan provides that
the delivery of any shares, or the lifting or lapse of restrictions on
any Award, shall be subject to the Participant's satisfaction of all
applicable federal, state and local income and employment tax
withholding obligations.
---------------------------------------------------------------------------

    \6\ During the restriction period (i.e., prior to the lapse of
the forfeiture restrictions), the Restricted Stock may not be sold,
transferred, pledged, hypothecated, margined, or otherwise
encumbered by a Participant.
---------------------------------------------------------------------------

    3. The Incentive Plan, as amended and restated effective June 20,
2014, was approved by the Company's board of directors (``Board''),
including the required majority of the Company's directors with the
meaning of section 57(o) of the Act. The Company states that the Board
is permitted to allow the Company to withhold shares of Common Stock or
purchase shares of Common stock from the Company's Employees to satisfy
tax withholding obligations related to the vesting of Restricted Stock,
or the exercise of options to acquire Common Stock or Restricted Stock
granted pursuant to the Incentive Plan. The Company states that the
Incentive Plan further provides the Board with discretion to permit the
Company's Employees to pay the exercise price of options to purchase
shares of Common Stock or Restricted Stock with shares of Common Stock
already held by them or pursuant to net share settlement.
    Applicant's Legal Analysis:
    1. Section 23(c) of the Act, which is made applicable to BDCs by
section 63 of the Act, generally prohibits a BDC from purchasing any
securities of which it is the issuer except in the open market,
pursuant to tender offers or under other circumstances as the
Commission may permit to ensure that the purchase is made on a basis
that does not unfairly discriminate against any holders of the class or
classes of securities to be purchased. The Company states that the
withholding or purchase of shares of Restricted Stock and Common Stock
in payment of applicable withholding tax obligations or of Common Stock
in payment for the exercise price of a stock option might be deemed to
be purchases by the Company of its own securities within the meaning of
section 23(c) and therefore prohibited by the Act.
    2. Section 23(c)(3) provides that the Commission may issue an order
that would permit a BDC to purchase its shares in circumstances in
which the purchase is made in a manner or on a basis that does not
unfairly discriminate against any holders of the class or classes of
securities to be purchased. The Company states that it believes that
the requested relief meets the standards of section 23(c)(3).
    3. The Company states that these purchases will be made on a basis
which does not unfairly discriminate against the stockholders of the
Company because all purchases of Common Stock will be at the closing
sales price of the Common Stock on the NASDAQ Global Select Market on
the relevant date (i.e., the public market price on the date of vesting
of the Restricted Shares, the date of exercise of Non-Statutory Stock
Options, and the date of a disqualifying disposition with respect to
Incentive Stock Options). The Company further states that no
transactions will be conducted pursuant to the requested order on days
where there are no reported market transactions involving the Common
Stock. The Company submits that because all transactions would take
place at the public market price for the Company's common stock, the
transactions would not be significantly different than could be
achieved by any stockholder selling in a market transaction.
    4. The Company submits that the proposed purchases do not raise
concerns about preferential treatment of the Company's insiders because
the Incentive Plan is a bona fide compensation plan of the type that is
common among corporations generally. Further, the Company argues that
the vesting schedule is determined at the time of the initial grant of
the Restricted Stock and the option exercise price is determined at the
time of the initial grant of the options. The Company represents that
that all purchases may be made only as permitted by the Incentive Plan
and in the discretion of the Board, which is composed of at least a
majority of ``non-interested'' persons within the meaning of section
2(a)(19) of the Act. The Company argues that granting the requested
relief would be consistent with policies underlying the provisions of
the Act permitting the use of equity compensation as well as prior
exemptive relief granted by the Commission for relief under section
23(c) of the Act.

    For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-12970 Filed 5-28-15; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 76, Number 234 (Tuesday, December 6, 2011)]
[Notices]
[Pages 76156-76157]
[FR Doc No: 2011-31173]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 14316-000]

Grand Coulee Project Hydroelectric Authority; Notice of
Preliminary Permit Application Accepted for Filing and Soliciting
Comments and Motions To Intervene

    On November 8, 2011, Grand Coulee Project Hydropower Authority
(Grand Coulee Authority) 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 PEC 1973 Drop Hydroelectric Project (PEC
1973 Project or project) to be located on the Potholes East Canal, near
Othello, Franklin County, Washington. 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 consist of the following: (1) An
approximately 400-foot-long, 100-foot-wide canal leading to a 100-foot-
long, 15-foot-high intake structure installed on the Potholes East
Canal to divert flow from the canal to the penstock; (2) an 80-foot-
long, 12-foot-diameter penstock from the intake structure to the
powerhouse; (3) an approximately 20-foot-long, 70-foot-wide powerhouse
containing a single S-turbine/generator unit rated at 2.2 megawatts at
an average head of 18 feet; (4) a 100-foot-long tailrace returning
flows from the powerhouse to the Potholes East Canal; (5) a substation
at the powerhouse; (6) a 125-foot-long, 13.8-kilovolt transmission line
which will connect with an existing distribution line; and (7)
appurtenant facilities. The project will be located on private lands,
and would operate as run-of-release using irrigation flows provided by
the U.S. Bureau of Reclamation and the South Columbia Basin Irrigation
District. The estimated annual generation of the PEC 1973 Project would
be 6.7 gigawatt-hours.
    Applicant Contact: Mr. Ronald Rodewald, Secretary-Manager, Grand
Coulee Project Hydroelectric Authority, P.O. Box 219, Ephrata, WA
98823; phone:<PHONE_NUMBER>.
    FERC Contact: Jennifer Harper; phone:<PHONE_NUMBER>.
    Competing Application: This application competes with Project No.

14208-000 filed May 31, 2011, and noticed on August 10, 2011. Competing
applications or notices of intent for competing applications had to be
filed on or before October 9, 2011. Grand Coulee Authority filed a
notice of intent on October 7, 2011.
    Deadline for filing comments or motions to intervene: 60 days from
the issuance of this notice. Comments and motions to intervene may be
filed electronically via the Internet. See 18 CFR 385.2001(a)(1)(iii)
and the instructions on the Commission's Web site 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>or toll free at 1-(866) 208-3676, or for
TTY,<PHONE_NUMBER>. Although the Commission strongly encourages
electronic filing, documents may also be paper-filed. To paper-file,
mail an original and seven copies to: Kimberly D. Bose, Secretary,
Federal Energy Regulatory Commission, 888 First Street NE., Washington,
DC 20426.
    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-14316-000) in the docket number field to
access the document. For assistance, call toll free 1-(866) 208-3372.

    Dated: November 29, 2011.
Kimberly D. Bose,
Secretary.
[FR Doc. 2011-31173 Filed 12-5-11; 8:45 am]
BILLING CODE 6717-01-P