[Federal Register Volume 83, Number 7 (Wednesday, January 10, 2018)]
[Rules and Regulations]
[Pages 1194-1195]
[FR Doc No: 2018-00028]

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ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 52

[EPA-R04-OAR-2007-0085; FRL-9972-85-Region 4]

Air Plan Approval; NC; Open Burning and Miscellaneous Revisions

AGENCY: Environmental Protection Agency (EPA).

ACTION: Final rule.

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SUMMARY: Due to adverse comments received, the Environmental Protection
Agency (EPA) is amending the North Carolina State Implementation Plan
(SIP) to remove some provisions made effective through the direct final
rule that was published on July 18, 2017. EPA stated that if adverse
comments were received by the close of the comment period, the rule
would be withdrawn and not take effect, or if adverse comments were
received on an amendment, paragraph, or section of the rule, EPA may
adopt as final those provisions of the rule that are not the subject of
an adverse comment. EPA received adverse comments on two specific SIP
revisions. Therefore, EPA is removing only the portions of the SIP
related to those two revisions.

DATES: This rule is effective January 10, 2018.

ADDRESSES: EPA has established a docket for this action under Docket
Identification No. EPA-R04-OAR-2007-0085. All documents in the docket
are listed on the www.regulations.gov website. Although listed in the
index, some information may not be publicly available, i.e.,
Confidential Business Information or other information whose disclosure
is restricted by statute. Certain other material, such as copyrighted
material, is not placed on the internet and will be publicly available
only in hard copy form. Publicly available docket materials are
available either electronically through www.regulations.gov or in hard
copy at the Air Regulatory Management Section, Air Planning and
Implementation Branch, Air, Pesticides and Toxics Management Division,
U.S. Environmental Protection Agency, Region 4, 61 Forsyth Street SW,
Atlanta, Georgia 30303-8960. EPA requests that if at all possible, you
contact the person listed in the FOR FURTHER INFORMATION CONTACT
section to schedule your inspection. The Regional Office's official
hours of business are Monday through Friday 8:30 a.m. to 4:30 p.m.,
excluding Federal holidays.

FOR FURTHER INFORMATION CONTACT: Nacosta C. Ward, Air Regulatory
Management Section, Air Planning and Implementation Branch, Air,
Pesticides and Toxics Management Division, U.S. Environmental
Protection Agency, Region 4, 61 Forsyth Street SW, Atlanta, Georgia
30303-8960. Ms. Ward can be reached via telephone at<PHONE_NUMBER>, or
via electronic mail at [email protected].

SUPPLEMENTARY INFORMATION: On July 18, 2017, EPA published a direct
final rule (82 FR 32767) approving several revisions to the North
Carolina SIP. The revisions consisted of changes to or the addition of
the following regulations: 15A NCAC Subchapter 2D--Air Pollution
Control Requirements, Section .0101, Definitions; Section .0103, Copies
of Referenced Federal Regulations; Section .1901 Purpose, Scope, and
Impermissible Open Burning Section; .1902, Definitions; Section .1903,
Permissible Open Burning Without An Air Quality Permit; Section .2001,
Purpose, Scope, and Applicability; and 15A NCAC Subchapter 2Q--Air
Quality Permits, Section .0103, Definitions; Section .0105, Copies of
Referenced Documents; Section .0304, Applications; Section .0305,
Application Submittal Content; Section .0806, Cotton Gins; Section
.0808, Peak Shaving Generators; and Section .0810, Air Curtain Burners.
On the same day, EPA published proposed rule (82 FR 32782), proposing
approval of those same revisions to the North Carolina SIP and
providing a 30-day comment period for both the direct final rule and
the proposed rule.\1\ The direct final rule explained that if EPA
received adverse comments, the Agency would withdraw the relevant
portion(s) of the direct final action. EPA received adverse comments on
the portions of the rulemaking related to the North Carolina
regulations 15A NCAC Subchapter 2Q--Air Quality Permits, Section .0808,
Peak Shaving Generators, and Section .0810, Air Curtain Burners, only.
However, EPA was not able to withdraw these portions of the direct
final action before the action became effective. Therefore, EPA is
amending Sec.  52.1770 by removing the portions of the SIP related to
these two North Carolina regulations. EPA is not

opening an additional comment period. At a later date, the Agency may
finalize action on these two regulations based on the July 18, 2017
propose rule and respond to the comments in the final action. All other
North Carolina regulations that were the subject of the July 18, 2017
direct final rule are not affected by this removal and were
incorporated by reference into the SIP as of September 18, 2017, the
effective date of the direct final rule (82 FR 32767).
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    \1\ On September 6, 2017 (82 FR 42055), EPA reopened the comment
period for the proposed rule, with comments due on or before
September 21, 2017.
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List of Subjects in 40 CFR Part 52

    Environmental protection, Air pollution control, Carbon monoxide,
Incorporation by reference, Intergovernmental relations, Lead, Nitrogen
dioxide, Ozone, Particulate matter, Reporting and recordkeeping
requirements, Sulfur oxides, Volatile organic compounds.

    Dated: December 22, 2017.
Onis ``Trey'' Glenn, III,
Regional Administrator, Region 4.

    40 CFR part 52 is amended as follows:

PART 52--APPROVAL AND PROMULGATION OF IMPLEMENTATION PLANS

0
1. The authority citation for part 52 continues to read as follows:

    Authority:  42 U.S.C. 7401 et seq.

Subpart II--North Carolina

0
2. In section 52.1770(c), Table 1, under the heading ``Subchapter 2Q--
Air Quality Permits,'' under the heading ``Section .0800 Exclusionary
Rules,'' is amended by:
0
a. Revising the entry for ``Sect. .0808''; and
0
b. Removing the entry for ``Sect. .0810''
    The revision reads as follows:

Sec.  52.1770  Identification of plan.

* * * * *
    (c) * * *

                                Table 1--EPA-Approved North Carolina Regulations
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                                                             State
          State citation              Title/subject     effective date   EPA approval date       Explanation
----------------------------------------------------------------------------------------------------------------

                                                  * * * * * * *
----------------------------------------------------------------------------------------------------------------
                                       Subchapter 2Q--Air Quality Permits
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                                                  * * * * * * *
----------------------------------------------------------------------------------------------------------------
                                        Section .0800 Exclusionary Rules
----------------------------------------------------------------------------------------------------------------

                                                  * * * * * * *
Sect. .0808......................  Peak Shaving               7/1/1999  10/22/2002, 67 FR
                                    Generators.                          64989.

                                                  * * * * * * *
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[FR Doc. 2018-00028 Filed 1-9-18; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register Volume 85, Number 130 (Tuesday, July 7, 2020)]
[Notices]
[Pages 40658-40659]
[FR Doc No: 2020-14512]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2020-N-1206]

Electronic Study Data Submission; Data Standards; Support and
Requirement Begin for Study Data Tabulation Model Version 1.7
Implementation Guide 3.3 and for Define-Extensible Markup Language
Version 2.1; Requirement Ends for Study Data Tabulation Model Version
1.3 Implementation Guide 3.1.3

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice.

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SUMMARY: The Food and Drug Administration's (FDA or Agency) Center for
Biologics Evaluation and Research (CBER) and Center for Drug Evaluation
and Research (CDER) are announcing the dates that support and
requirement will begin for version 1.7 of the Clinical Data Interchange
Standards Consortium (CDISC) for Study Data Tabulation Model (SDTM)
Implementation Guide (IG) 3.3, as well as for version 2.1 of the
Define-Extensible Markup Language (Define-XML). CBER and CDER are also
announcing the date that support and requirement will end for version
1.3 of the CDISC SDTM IG 3.1.3. The Agency will update the FDA Data
Standards Catalog (Catalog) to reflect these changes.

ADDRESSES: You may submit either electronic or written comments 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-2020-N-1206 for ``Electronic Study Data Submission; Data Standards;
Support and Requirement Begin for Study Data Tabulation Model Version
1.7 Implementation Guide 3.3 and for Define-Extensible Markup Language
Version 2.1; Requirement Ends for Study Data Tabulation Model Version
1.3 Implementation Guide 3.1.3.'' 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>.

FOR FURTHER INFORMATION CONTACT: Chenoa Conley, Center for Drug
Evaluation and Research, Food and Drug Administration, 10903 New
Hampshire Ave., Bldg. 51, Rm. 1117, Silver Spring, MD 20993-0002, 301-
796-0035<EMAIL_ADDRESS>or Stephen Ripley, Center for
Biologics Evaluation and Research, Food and Drug Administration, Bldg.
71, Rm. 7301, Silver Spring, MD 20993-0002,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: On December 17, 2014, FDA published a final
guidance for industry entitled ``Providing Regulatory Submissions in
Electronic Format--Standardized Study Data'' (eStudy Data guidance),
posted on FDA's Study Data Standards Resources web page at https://www.fda.gov/forindustry/datastandards/studydatastandards/default.htm.
The eStudy Data guidance implements the electronic submission
requirements of section 745A(a) of the Federal Food, Drug, and Cosmetic
Act (21 U.S.C. 379k-1(a)) for study data contained in new drug
applications (NDAs), abbreviated new drug applications (ANDAs),
biologics license applications (BLAs), and certain investigational new
drug applications (INDs) submitted to

CDER or CBER by specifying the format for electronic submissions. The
eStudy Data guidance states that a Federal Register notice will specify
any new standards and version updates, when the support begins or ends,
and when the requirement begins or ends, that will be added to the
Catalog. Support for version 1.7 of the CDISC SDTM IG 3.3 and version
2.1 of the Define-XML will begin on March 15, 2021, and the date that
the requirement begins will be on March 15, 2022, for NDAs, ANDAs, and
certain BLAs. For noncommercial INDs, the date that requirement begins
will be March 15, 2023. Support and requirement ended for version 1.3
of the CDISC SDTM IG 3.1.3 will end on March 15, 2021.

    Dated: June 30, 2020.
Lowell J. Schiller,
Principal Associate Commissioner for Policy.
[FR Doc. 2020-14512 Filed 7-6-20; 8:45 am]
BILLING CODE 4164-01-P


November 20, 2002 Page 1 of 26 SUPPORTING STATEMENT FOR AN INFORMATION COLLECTION REQUEST ( ICR)

1. IDENTIFICATION OF THE INFORMATION COLLECTION 1( a) Title of the Information Collection Notice of Pesticide Registration by States to Meet a Special Local Need ( SLN) under FIFRA Section 24( c)

OMB NO. 2070 0055; EPA NO. 0595.08 1( b) Short Characterization/ Abstract This data collection program is designed to provide the Environmental Protection Agency ( EPA, the Agency) with the necessary data to review approval of State issued pesticide registrations. The Federal Insecticide, Fungicide, and Rodenticide Act ( FIFRA), Section 24( c) authorizes the States to register additional uses of federally registered pesticides for distribution and use within the State to meet a special local need ( SLN). A State issued registration under FIFRA section 24( c) is deemed a federal registration for the purposes of the pesticide's use within the State's boundaries. A State must notify EPA, in writing, of any action it takes, i. e., when it issues, amends, or revokes a State registration. The Agency has 90 days to disapprove the registration. In such cases, the State is responsible for notifying the affected registrant.

2. NEED FOR AND USE OF THE COLLECTION 2( a) Need/ Authority for the Collection The EPA requires this information to ensure that the States do not issue any registrations that might conflict with other requirements in FIFRA, or with section 408 of the Federal Food Drug, and Cosmetic Act ( FFDCA) which require that a tolerance exist for any pesticide used on a food or feed commodity. FIFRA section 24 ( c)( 3) mandates that if the Administrator determines that a registration issued by a State is inconsistent with the FFDCA or if the use of a pesticide registered by the State constitutes an imminent hazard, the Administrator may disapprove the registration.

2( b) Practical Utility/ Users of the Data The potential respondents to this information collection activity are the States, which are defined in FIFRA section 2 ( aa) to include Washington, D. C., Puerto Rico, the U. S. Virgin Islands, Guam and the islands of the Pacific Territory, and American Samoa. The information " users" are the Agency decision makers within the Office of Pesticide Programs ( OPP) and is used November 20, 2002 Page 2 of 26 to ensure conformity with FIFRA and FFDCA. The States are required to collect from the manufacturer or grower groups adequate information to support the section 24( c) application for registration or amendment. Both the State and the manufacturer or grower group are required to keep records.

3. NON DUPLICATION, CONSULTATIONS, AND OTHER COLLECTION CRITERIA 3( a) Non duplication Not applicable. This is the only information collection activity of its kind and information collected in this data collection program is collected only once per receipt of an application for a FIFRA section 24( c) registration. Consequently, the possibility for duplication does not exist.

3( b) Public Notice Required Prior to ICR Submission to OMB In proposing to renew this ICR, EPA published a Federal Register ( FR) Notice that provided a 60 day public notice and comment period that ended on February 11, 2002 ( see Attachment C). The Agency received one comment ( Attachment D) in response to this notice from Mr. Erik Johansen of the Washington State Department of Agriculture ( WSDA). Mr. Johansen noted that the estimated total/ average number of responses from each respondent, which was listed in the FR Notice as 1 3, appeared to be low. Mr. Johansen estimated that the WSDA issues approximately 37 SLN registrations per year and corresponds with EPA a total of approximately 75 100 times per year regarding SLN registrations. This correspondence includes label revisions, cancellations of SLN registrations, and other actions.

EPA carefully considered Mr. Johansen's comments and agrees with his assertion that its estimate of the total/ average number of responses from each respondent which was listed in the first FRN as 1 3 was low. This renewal ICR includes a more realistic estimate of 5 6 responses per State ( the Agency expects to receive an average of 350 applications annually for the three years covered by this renewal ICR, divided by 60 respondents). In addition, Mr. Johansen commented that the estimated number of responses from each respondent pertaining to activities such as those described in his comment should be included in the activity description and accounted for as paperwork burdens. The burden estimates in this ICR for State governments already include the preceding activities as part of the paperwork burden, but the Agency has updated the activity descriptions in this ICR to more accurately reflect Mr. Johansen's concerns.

3( c) Consultations In addition to informal consultation between States and the EPA during the submission and review of SLN registration applications, which occurs on an ongoing basis, EPA staff contacted the following representatives of State regulatory agencies and asked them for their November 20, 2002 Page 3 of 26 assessment of the burden estimates in the ICR:

John Inouye California Department of Pesticide Regulation Sacramento, CA Phone: ( 926) 324 3538 John R. Lake Pennsylvania Department of Agriculture Harrisburg, PA 17110 Phone: ( 717) 772 5211 Mr. Jim Gray North Dakota Department of Agriculture Bismarck, ND 58505 Phone: ( 701) 382 1505 Mr. Inouye replied that conditions pertaining to SLN registrations vary so widely in his State that providing an estimate was not possible. Mr. Lake responded that he estimated that processing of an SLN registration by his State, depending on concerns applicable to the pesticide and use requested, could range from as many as 24 hours to as few as 3. Mr. Gray's response also indicated that processing time could vary widely depending on various concerns, but that processing time averaged approximately 15 hours per submission. The Agency agrees with these assessments, and based on the responses received, calculates that the States spend an average of 13 hours processing an SLN submission.

EPA staff also contacted, by electronic mail, representatives of companies involved as applicants for State registrations to obtain their assessment of the burden associated with this information collection activity. The Agency received feedback from the following pesticide registrants and included their responses as Attachment E to this supporting statement:

Rebecca Johnston BASF Corp. Mt. Olive, NJ Jack Cain Dupont Wilmington, DE F. Andy Hedgecock Monsanto Co. St. Louis, MO November 20, 2002 Page 4 of 26 Greg Watson Syngenta Greensboro, NC The Agency used the registrant feedback to revise the estimated burden for submitting applications for special local need registrations to States and has provided a detailed discussion in section 6 of this supporting statement.

3( d) Effects of Less Frequent Collection Not applicable. This activity is conducted only once per receipt of an application for a FIFRA section 24( c) registration. Consequently, there is no way that the EPA can reduce the frequency of the collection.

3( e) General Guidelines The recordkeeping activities briefly described in this ICR exceed OMB's guideline that agencies not require that records be retained for more than 3 years ( 5 CFR 1320.5( d)( 2)( iv)). As authorized under FIFRA section 8, EPA regulations require that registrants retain records containing research data relating to registered pesticides ( including all data submitted to EPA in support of a registration  see 40 CFR 169.2( k)) for as long as the registration is valid and the producer is in business. However, the burden related to the recordkeeping requirements is covered under another ICR ( see OMB Control No. 2070 0028, Recordkeeping Requirements for Producers of Pesticides under Section 8 of the Federal Insecticide, Fungicide, and Rodenticide Act ( FIFRA)).

In addition, this ICR does not include any estimated burden or costs related to the third party activities associated with pesticide product labeling. In 1995, OMB determined, in the context of OMB Control No. 2070 0060, Application for New and Amended Pesticide Registration, that the Agency does not need to estimate burden or costs for the third party disclosure requirement involving the registrant's disclosure of product specific information to potential users and the general public through the pesticide labeling. This activity is not considered to be a collection of information subject to approval under the PRA because the information that must be included as the product labeling has been approved and provided by EPA. ( 5 CFR 1320.3( c)( 2)).

Finally, OMB's regulations require agencies to provide a statement indicating whether the proposed collection of information involves the use of automated, electronic, mechanical, or other technological collection techniques or other forms of information technology, e. g., permitting electronic submission of responses, and an explanation of the decision ( 5 CFR 1320.5( a)( iii)( E)). At the present time, applications for 24( c) registration are submitted on written forms via the mail. OPP is not yet prepared to accept the electronic submission of any forms listed in this ICR. Forms based submissions likely would be transmitted via the World Wide Web and neither OPP nor the Agency's Office of Environmental Information have developed the information technology November 20, 2002 Page 5 of 26 approaches that would adequately protect FIFRA Confidential Business Information submitted in this way.

3( f). Confidentiality The Agency estimates that fewer than 0.1% of the 24( c) registrations it receives are for new products and would thus require submission of a Confidential Statement of Formula, which contains Confidential Business Information ( CBI). However, as many as 5% to 10% of 24( c) registrations may include residue data, which also contains CBI, in support of an unregistered use. In addition, any data and/ or information brought to the Agency in conjunction the submission of 24( c) registrations may be claimed as trade secret, commercial or financial information and must be protected from disclosure by EPA under FIFRA section 10 and the associated regulation as contained in 40 CFR Part 2, Subpart B. All CBI data submitted to the EPA under FIFRA is handled strictly in accordance with the provisions of the FIFRA Confidential Business Information Security Manual.

3( g) Sensitive Questions Not applicable. No information of a sensitive or private nature is requested in conjunction with this collection activity. In addition, this information collection activity complies with the provisions of the Privacy Act of 1974 and OMB circular A 108.

4. THE RESPONDENTS AND THE INFORMATION REQUESTED 4( a) Respondents/ NAICS Code Section 2( aa) of FIFRA defines " State" to include any of the 50 States, the District of Columbia, the Commonwealth of Puerto Rico, the United States Virgin Islands, Guam, the Trust Territory of the Pacific Islands, and American Samoa. The North American Industrial Classification System ( NAICS) code for the State government agencies participating in this data collection is 92411.

4( b) Information Requested ( i) Information Requested by States to support SLN registrations.

( A) Application for a 24( c) registration.

Applicants for State registrations under FIFRA section 24( c) to meet a special local need ( typically pesticides manufacturers and grower groups) must submit the following information directly the State using EPA Form 8570 25, Application for/ Notification of State Registration of November 20, 2002 Page 6 of 26 a Pesticide to Meet a Special Local Need ( Attachment F) and EPA Form 8570 4, Confidential Statement of Formula, ( Attachment G) when applicable:

( 1) Name and address of the applicant and any other person whose name will appear on the labeling or in the directions for use.

( 2) The name of the pesticide product, and, if the application is for an amendment to a federally registered product the EPA registration number of that product,

( 3) A copy of the proposed labeling, including all claims made for the product as well as directions for its use to meet the special local need, consisting of: ( a) For a new product, a copy of the complete proposed labeling; or, ( b) For an additional use of a federally registered product, a copy of proposed supplemental labeling and a copy of the labeling for the federally registered product. ( c) If a State classifies for restricted use a product or use, which is not required to be so classified under FIFRA, supplemental labeling for the product or use containing additional appropriate precautions, and a statement that the product or use is for restricted use within the State may be required.

( 4) The complete formula of the product, if the application is for a new product registration.

( 5) Any other information that is required to be reviewed prior to registration.

( B) Information following the issuance of a 24( c) registration.

A copy of the final printed labeling as soon as practical after a registration is issued. New product labeling must all contain:

( 1) A statement identifying the State where registration is to be valid. ( 2) The special local need registration number assigned by the State. ( 3) For an additional use of a federally registered product, the State must require that at the time of sale, labeling from the federally registered product be accompanied by supplemental labeling.

( C) Information Requested by EPA to verify an SLN registration.

Within ten working days from the date a State issues, amends or revokes a registration, the State is required to notify the EPA, in writing, of the action.

( 1) Using EPA Form 8570 25 where applicable, notification of State registrations, or amendments thereto, shall include: November 20, 2002 Page 7 of 26 ( a) Effective date of the registration or amendment, ( b) Confidential statement of the formula of any new product, and ( c) A copy of the draft labeling reviewed and approved by the State, provided that labeling previously approved by the Administrator as part of a federal registration need not be submitted.

( 2) Notification of State registrations or amendments shall be supplemented by the State sending to the EPA a copy of the final printed labeling approved by the State within 60 days after the effective date of the registration or amendment.

( 3) Notification of revocation of a registration by a State shall indicate the effective date of revocation, and shall state the reasons for revocation.

( 4) The Agency may request, when appropriate, that a State submit any data used by the State to determine that unreasonable adverse effects will not be caused.

( ii) Respondent Activities The following are the activities in which an applicant must engage in order to obtain a State registration under FIFRA section 24( c).

Gather data Proposed label, product formulation ( if applicable), name of applicant, name of product, federal registration number ( if applicable), and any other information required by the State.

Submit materials to the State Compile necessary data and materials. Complete application for State registration ( EPA Form 8570 25) and submit to State Store, file, and maintain the information Applicant must maintain records of information submitted to the State for as long as the State registration is active. November 20, 2002 Page 8 of 26 A State must engage in the following activities in order to comply under this data collection program:

Compile information Organize data submitted by registrant ( or grower group) to develop the SLN justification. Registrant must maintain records of information submitted to the State.

Review information Evaluate the data: 1. Determine whether there is a special local need for the registration; 2. Determine that use of the product for which registration is sought will not cause unreasonable adverse effects on humans or the environment; 3. For use of a product with public health claims, determine that the product warrants the claims made, i. e., efficacy determination; 4. Review the proposed labeling submitted with the application to determine State and federal compliance; 5. Issue or amend State registration.

Notify Federal Government Complete and submit EPA Form 8570 25 and all accompanying data and materials. Respond to any Agency questions or concerns.

Store, file, and maintain the data Maintain copies of the information and data submitted to EPA.

Respond to Registrant ( if necessary) Notify registrant if Federal Government disapproves the State's registration. November 20, 2002 Page 9 of 26 5. THE INFORMATION COLLECTED  AGENCY ACTIVITIES, COLLECTION METHODOLOGY, AND INFORMATION MANAGEMENT 5( a) Agency Activities EPA must conduct the following activities under this data collection activity:

Read and record State submitted information EPA Form 8570 25 and the application is screened, jacket created, and information is recorded in electronically for tracking purposes.

Review data submissions Review materials for adherence to federal requirements of label integrity, lack of imminent risk, and the existence of appropriate tolerances.

Publish summary of 24( c) s Publish, on a regular basis, in the Federal Register, a summary of all State registrations received and those disapproved.

Notify State ( if necessary) Notify the State if the registration is disapproved.

Store/ file/ maintain the data Maintains an electronic reference file on all FIFRA section 24( c) applications received and approved.

5( b) Collection Methodology and Management The section 24( c) application form and any supporting materials are received and datemarked to start the 90 day clock. They are screened for completeness, a master file jacket is created for the incoming application, and the case is assigned a unique identifier. Identifying information then is extracted for the required FR Notice of receipt, for the Pesticide Product Information System ( PPIS) inventory of all 24( c) actions, and for tracking records.

The file then is reviewed for substantive acceptability, and any scientific data is routed for review by appropriate specialists. When all reviews are completed a decision is made to accept or disapprove the application.

If the decision is to disapprove the application, the State is notified, and a notice of disapproval is published in the FR. The disapproval is recorded in the PPIS data base. If the decision is to accept the application, this is recorded in the master file, and no further action is required. November 20, 2002 Page 10 of 26 5( c) Small Entity Flexibility Not applicable. As identified in section 4( a) of this supporting statement, Section 24 of FIFRA applies directly only to the government agencies of the 50 states, Washington D. C., and the territorial governments of the United States; it does not apply to other entities. States are not small entities as defined under the Regulatory Flexibility Act and the Unfunded Mandates Reform Act. Small entity flexibility does not exist under this information collection activity because the respondent community does not consist of any small entities. While pesticide manufacturers and grower groups may be affected by EPA State activities under this ICR, any activities they undertake are in response to FIFRA Section 24, which expressly delegates certain pesticide registration authority to States. These entities must comply with State procedures to obtain a special local need registration under FIFRA section 24( c). Consequently, the Agency cannot offer them any flexibility without intruding on State processes.

5( d) Collection Schedule Not applicable. This activity is conducted only once per receipt of an application for a FIFRA section 24( c) registration. Consequently, there is no set schedule for collection of this information.

6. ESTIMATING BURDEN AND COST OF THE COLLECTION 6( a) Estimating Respondent Burden ( i) Applicant Burden As discussed in further detail under section 6( e) of this supporting statement, the Agency estimates the average burden for applicants for State registrations under FIFRA section 24( c) to equal approximately 39 hours per response. This includes 14 hours of management labor, 19 hours of technical labor and 6 hours of clerical labor per response. The Agency expects that nearly 350 applications will be submitted annually during the next 3 years and therefore estimates that the annual applicant burden will equal 13,650 hours.

( ii) State Agency Burden As discussed in further detail in sections 3( c) and 6( e) of this supporting statement, EPA estimates the State Agency burden to average 13 hours per response. This includes an estimated 12.3 hours of technical labor and 0.7 hours of clerical labor per State agency response. The Agency anticipates that nearly 350 SLN applications will be submitted each year for an estimated annual burden of 4,550 hours. From that, EPA estimates that each State will receive, on average, 5 or 6 SLN applications per year. November 20, 2002 Page 11 of 26 ( iii) Overall Burden The overall respondent burden associated with this collection is estimated to be 18,200 hours per year. Respondents include both the State governments and the companies filing for State registrations. No changes have been made in the requirements for Section 24( c) applications, and no changes have been made to the provisions of this information collection activity.

6( b) Estimating Respondent Cost EPA has increased its estimated labor rates for applicants and State government personnel factoring in an inflation cost index of 1.056 based on the Gross Domestic Product. These labor rates are fully loaded and included benefits and overhead costs. For applicants, EPA estimates labor costs of $ 130, $ 88 and $ 40 per hour for management, technical and clerical burden, respectively. For State agency personnel, EPA estimates labor costs of $ 84, $ 63, and $ 32 per hour for management, technical and clerical burden, respectively. Using the Agency's burden estimates and the fully loaded labor rates, the Agency estimates the applicant costs to be approximately $ 3,732 per response and State agency costs to be approximately $ 797 per response for a total of $ 4,529 per response. The overall annual cost associated with this information collection, based on an estimate 350 responses per year, is estimated to be $ 1,585,150. November 20, 2002 Page 12 of 26 RESPONDENT BURDEN/ COST ESTIMATES PER 24( c) REGISTRATION REGISTRANT HOURS, RATES TOTAL Collection Activities Mgmt. $ 130/ hr Tech. $ 88/ hr. Cler. $ 40/ hr. Hours Costs ($)

Gather data 5.00 12.50 0.00 17.50 1,750 Submit materials to State 9.00 5.50 1.00 15.50 1,694 Store/ file/ maintain the data 0.00 1.00 5.00 6.00 288 TOTAL 14.00 19.00 6.00 39.00 $ 3,732 STATE GOVERNMENT HOURS, RATES TOTAL Collection Activities Mgmt. $ 84/ hr Tech. $ 63/ hr. Cler. $ 32/ hr. Hours Costs Compile information 0.0 1.0 0.0 1.0 63.00 Review submission information 0.0 5.5 0.0 5.5 346.50 Complete and transmit paperwork to EPA ( including label revisions, SLN registration cancellations, and other follow up actions) 0.0 5.4 0.4 5.8 353.00 Store/ file/ maintain the data 0.0 0.0 0.1 0.1 3.20 Respond to Registrant ( if necessary) 0.0 0.4 0.2 0.6 31.60 TOTAL 0.0 12.3 0.7 13 $ 797.30 ANNUAL BURDEN: 52 Total Hours x 350 Applications = 18,200 hours ANNUAL COSTS: $ 4,529 x 350 Applications = $ 1,585,150 November 20, 2002 Page 13 of 26 6( c) Estimating Agency Burden and Cost The Agency technical employee burden associated with the 24( c) registration program has been estimated from the Time Accounting Information System ( TAIS) and OPP's regulatory action resource tracking systems, although neither management nor clerical burden is captured by these systems. The estimate for management burden is based on the assumption that only a small portion of 24( c) registrations require management decisions, usually only those the technical staff recommends for denial. The hours associated with reviewing the data submissions and publishing summaries have been revised to reflect that it is actually the data review portion of the collection activity that takes the most time. The estimate for notifying the State is small because of the small number of application denials.

The Agency cost associated with this program is estimated to be $ 352,124 per year. The labor rates are based on Office of Personnel Management salary tables for federal employees for the years 1999 through 2001 and include benefits and overhead costs, as well as locality pay for the Washington, DC Baltimore area. The total Agency costs also include FR and electronic mailing costs.

ANNUAL AGENCY BURDEN/ COST ESTIMATES PER 24( c) SUBMISSION COLLECTION ACTIVITIES HOURS, RATES TOTAL Mgmt. $ 96/ hr. Tech. $ 70/ hr Cler. $ 33/ hr. Hours Costs Read and record Statesubmitted information 0.0 0.1 0.1 0.2 10.30 Review data submissions 0.6 11.0 0.0 11.6 827.60 Publish summary of 24( c) s 0.1 0.5 0.1 0.7 47.90 Store/ file/ maintain the data 0.0 0.0 0.1 0.1 3.30 Notify the State ( if necessary) 0.1 0.2 0.1 0.4 26.90 TOTAL 0.8 11.8 0.4 13.0 $ 916 ANNUAL BURDEN: 13 Total Hours x 350 Applications = 4,550 Hours ANNUAL COSTS: $ 916 x 350 Applications $ 320,600 ANNUAL MAILING COSTS: $ 31,524 ( Federal Register mailing costs of $ 20,232 + electronic mail costs of $ 11,292)

TOTAL ANNUAL AGENCY COSTS: $ 352,124 November 20, 2002 Page 14 of 26 6( d). Bottom Line Hours And Costs MASTER TABLE TOTAL Hours Costs Respondents ( applicants & states) 18,200 $ 1,585,150 Agency 4,550 $ 352,124 6( e) Reasons For Changes in Burden When this information collection activity was renewed in 1996 and 1999, the Agency included burden estimates for applicant activities to conform to the amended Paperwork Reduction Act requirements. Based on their expertise, the Agency's staff experts estimated at the time that the applicant paperwork burden was approximately 68 hours per application. The Agency did not receive any information during the public comment period for this renewal that indicated a revision to this estimate was needed. Information received by the Agency during consultations with applicants indicated that previous estimates of average " per application" burden were too high. The Agency has revised the estimated applicant burden downward to approximately 39 hours per response to reflect the information supplied by applicants.

While EPA revised its assessment of applicant burden downward based on consultations with respondents, the Agency revised its assessment of State agency burden upward in response to respondent feedback. EPA had historically estimated the to burden State agencies as 2.5 hours per response. We learned during our consultation with our State partners that 13 hours per response is a more accurate assessment of burden. Our estimates have been revised to reflect the discussions with respondents.

The effect of these revisions to our burden estimates has led to a net reduction of annual respondent burden associated with this collection by 6,404 hours. When OMB last approved this information collection activity in 1999, the Agency estimated the annual burden to equal 24,604 hours annually. This renewal ICR reflects a 29 hour burden decrease per response for applicants, while showing a 11.5 hour burden increase per response for States. This 6,404 hour burden decrease represents an adjustment to EPA's burden hour estimate in the current ICR.

6( f) Burden Statement The annual respondent burden for this ICR is estimated to average 52 hours per response ( 39 hours per applicant and 13 hours per State), including time for compiling the information/ data submitted by the registrant, reviewing the information for special local needs November 20, 2002 Page 15 of 26 determination, completing paperwork to notify the federal government, storing/ filing/ maintaining the data, and responding back to the registrant if the registration is disapproved by EPA. The burden estimate includes hours spent by the registrant in preparing the application for submission to EPA.

Send comments regarding this burden estimate or any other aspect of this collection of information, including suggestions for reducing the burden, to: Director, Collection Strategies Division, Mail Code 2822, U. S. Environmental Protection Agency, 1200 Pennsylvania Avenue, NW, Washington, DC 20460; and to Paperwork Reduction Act Project ( OMB No. 2070 0055), Office of Regulatory Affairs, Office of Management and Budget, Washington, DC 20503, marked " Attention Desk Officer for EPA." November 20, 2002 Page 16 of 26 ATTACHMENTS TO THE SUPPORTING STATEMENT ATTACHMENT A: FIFRA Section 24( c) ( 7 U. S. C. 136v)  available electronically at http:// www. epa. gov/ pesticides/ fifra. htm# sec24 ATTACHMENT B: FFDCA Section 408 ( 21 U. S. C. 346a)  available electronically at http:// uscode. house. gov/ usc. htm ATTACHMENT C: 66 FR 64249  FIFRA Section 24( c) Special Local Need Registrations; Renewal of Pesticide Information Collection Activities and Request for Comments ( published December 12, 2001)  available electronically at http:// www. epa. gov/ fedrgstr/ EPA PEST/ 2001/ December/ Day 12/ p30597. htm ATTACHMENT D: Public Comment Regarding 66 FR 64249  Comments of Mr. Erik Johansen, Washington State Department of Agriculture  An electronic copy of this attachment follows in the electronic file for this ICR.

ATTACHMENT E: Applicant Estimates of Burden  Applicant feedback received during Agency consultation activities  An electronic copy of this attachment follows in the electronic file for this ICR.

ATTACHMENT F: Application for/ Notification of State Registration of a Pesticide to Meet a Special Local Need ( EPA Form 8570 25)  available electronically at http:// www. epa. gov/ opprd001/ forms/ 8570 25. pdf ATTACHMENT G: Confidential Statement of Formula ( EPA Form 8570 4)  available electronically at http:// www. epa. gov/ opprd001/ forms/ 8570 4. pdf ATTACHMENT H: Display Related to OMB Control # 2070 0055  Listings of Related Regulations in 40 CFR 9.1  An electronic copy of this attachment follows in the electronic file for this ICR.

ATTACHMENT I: 40 CFR 162, Subpart D  STATE REGISTRATION OF PESTICIDE PRODUCTS: Regulations Pertaining to State Registration of Pesticides To Meet Special Local Needs  available electronically at http:// www. access. gpo. gov/ nara/ cfr/ cfrhtml_ 00/ Title_ 40/ 40cfr162_ 00. html OMB CONTROL NO. 2070 0055 ATTACHMENT D Public Comment Regarding 66 FR 64249 Comments of Mr. Erik Johansen, Washington State Department of Agriculture Comments for EPA Public Docket re: Docket control number OPP 00753, ICR for FIFRA Section 24( c) Special Local Need Registrations Washington State Department of Agriculture ( WSDA) issues approx. 37 SLN registrations per year ( 1999, 2000, 2001). WSDA revises several dozen SLN labels per year, and cancels several dozen SLN registrations per year. WSDA also responds to several requests per year from EPA regarding SLN registrations ( recommendations for label revision, requests for additional information, other actions). Therefore, a reasonable estimate is that WSDA corresponds with EPA approx. 75 100 times per year regarding SLN registrations.

The Federal Register, December 12, 2001 ( Volume 66, Number 239, Page 64249 64251) indicates in Section V ( Burden and Cost Estimates) that the estimated total/ average number of responses from each respondent ( including states) is 1 3. This estimate appears to be inaccurate.

Feel free to contact me if there are any questions regarding these comments.

Erik W. Johansen Pesticide Registration Specialist / Pollinator Protection & Spray Adjuvants Phone ( 360) 902 2078 Fax ( 360) 902 2093 email ejohansen@ agr. wa. gov OMB CONTROL NO. 2070 0055 ATTACHMENT E Applicant Estimates of Burden Applicant feedback received during Agency consultation activities Page 19 of 26 Generic EPA Request for Registrant Feedback on Burden for FIFRA 24( c) Activities Sent via e mail by Jim Tompkins, US EPA/ Office of Pesticide Programs, on 11/ 07/ 2002 The Agency is working on the renewal of the Information Collection Request ( ICR) for 24( c) s under which the Agency is given authority to collect the information submitted with a 24( c) registration.

As part of the 24( c) ICR, the Agency must provide an estimate of the burden on registrants to complete a 24( c) registrations. To assist EPA in providing a reasonable estimate of the burden to registrants to complete a 24( c) registration, I am requesting that you provide your best estimate of the hours in each category to complete an average 24( c) realizing some 24( c) s take more time and other 24( c) s take less time.

We will then average the responses from a number of registrants to provide OMB with a reasonable burden estimates. Nobody is sure of where the burden estimates in the current ICR came from so it is time for a little reality check.

Registration Manager Technical Support Clerical Support Gather Data Prepare 24( c) for Submission to State Clerical typing filing etc.

Please forward this message to the appropriate person. If possible, I need a response by November 14.

Thank You Jim T Page 20 of 26  Forwarded by Jim Tompkins/ DC/ USEPA/ US on 11/ 20/ 02 01: 34 PM

Jack Cain < Jack. Cain@ USA. dupont. com> 11/ 13/ 02 07: 36 AM To: Jim Tompkins/ DC/ USEPA/ US@ EPA cc: Subject: Re: 24( c) Burden Estimate Jim,

Based on input from other 2 other Reg. Managers in our group, our State Registration coordinator and two of our Field Dev. folks ( tech support) we came up with the following # s ( note they are averages from all the inputs I received).

Registration Manager Technical Support Clerical Support Gather Data 4 hrs 12 hrs Prepare 24( c) for Submission 8 hrs 6 hrs 2 hrs to State Clerical typing 1.5 hrs 2 hrs filing etc.

Hope this helps,

Jack Page 21 of 26  Forwarded by Jim Tompkins/ DC/ USEPA/ US on 11/ 20/ 02 01: 35 PM

Rebecca L Johnston < johnstrl@ basf corp. com> 11/ 12/ 02 10: 51 AM To: Jim Tompkins/ DC/ USEPA/ US@ EPA cc: Subject: Re: 24( c) Burden Estimate Jim,

I did not receive a confirmed delivery so I am sending again.

Rebecca  Forwarded by Rebecca L Johnston/ APN/ PRINCETON/ BASF CORP/ BASF on 11/ 12/ 2002 10: 51 AM

Rebecca L Johnston 11/ 08/ 2002 03: 04 PM To: Tompkins. Jim cc: Joseph S O'Grodnick, Laura A Sears Subject: Re: 24( c) Burden Estimate( Document link: Rebecca L Johnston)

Jim,

Attached is BASF's estimate of the effort required to prepare a 24( c) application.

Any questions, please do not hesitate to ask.

( See attached file: Information Collection Request for 24. doc)

Regards,

Rebecca Page 22 of 26 BASF Corporation BASF Information Collection Request for 24( c) Registrations Registration Mgr Technical Support Clerical Support Overall Coordination 8 hours Support/ Gather Data ° Label ° Justification ° Data Summaries 16 hours 8 hours 8 hours Prepare Submission ° Label ° Justification ° Data Summaries 16 hours 8 hours 8 hours Clerical Activities ° Applications ° Cover Memos ° Duplication ° Filing 16 hours Total = approx. 11 days ( 88 hrs)

1 day = typical 8 hour workday Estimated effort assumes the maximum requirements and a first time 24( c) application.

R. Johnston 11/ 8/ 02 November 20, 2002 Page 23 of 26 26 Davis Drive, PO Box 13528, Research Triangle Park, NC 27709 3528 Telephone ( 919) 547 2000 Page 24 of 26  Forwarded by Jim Tompkins/ DC/ USEPA/ US on 11/ 20/ 02 01: 37 PM

" HEDGECOCK, F ANDY [ AG/ 1000]" < f. andy. hedgecock@ monsanto. com> 11/ 08/ 02 12: 58 PM To: Jim Tompkins/ DC/ USEPA/ US@ EPA cc: Subject: FW: 24( c) Burden Estimate Jim,

Russ asked if I could provide a response on this for Monsanto. I've made an estimate of the average time spent submitting to one state based on the matrix you had below across the three functional types and three process pieces.

Registration Manager Technical Support Clerical Support Gather Data  12 hours

Prepare 24( c) for Submission 4 hours   to State Clerical typing   1 hour filing etc.

Let me know if you need other information.

Regards, F. Andy Hedgecock Director, State Regulatory Affairs Monsanto Worldwide Regulatory Affairs phone: 314/ 694 5486 cel: 314/ 378 5632 fax: 314/ 694 4028 email: f. andy. hedgecock@ monsanto. com < mailto: f. andy. hedgecock@ monsanto. com> Page 25 of 26  Forwarded by Jim Tompkins/ DC/ USEPA/ US on 11/ 20/ 02 01: 43 PM

greg. watson@ syngenta. com 11/ 08/ 02 03: 59 PM To: Jim Tompkins/ DC/ USEPA/ US@ EPA cc: Subject: RE: 24( c) Burden Estimate Dear Jim,

As promised, here is the feedback from us regarding the ICR:

Registration Manager Technical Support* Clerical Support Gather Data 1 hour 10 hours

Prepare SLN for Submission 8 hours  1 hour to State Clerical  typing, 1 hour  1 hour filing etc.

* includes compiling and summarizing internal and external data, calling COI's, etc. It does not include conducting efficacy or residue field trials required to obtain a 24c registration.

Please let me know if this was what you were after or if additional information is needed.

Have a good weekend,

Greg November 20, 2002 Page 26 of 26 OMB CONTROL NO. 2070 0055 ATTACHMENT H Display Related to OMB Control # 2070 0027  Listings of Related Regulations in 40 CFR 9.1 As of May 10, 1993, the OMB approval numbers for EPA regulations in Chapter I of Title 40 of the Code of Federal Regulations ( CFR) appear in a listing in 40 CFR 9.1 ( 58 FR 27472). This listing fulfills the display requirements in section 3507( f) of the Paperwork Reduction Act ( PRA) for EPA regulations. The listing at 40 CFR 9.1 displays this OMB Control number for the following regulations:

Program Title 40 CFR citation Good Laboratory Practice Standards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 160 State Registration of Pesticide Products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 162.153


[Federal Register Volume 82, Number 93 (Tuesday, May 16, 2017)]
[Notices]
[Pages 22580-22581]
[FR Doc No: 2017-09816]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-80644; File No. SR-CBOE-2017-038]

Self-Regulatory Organizations; Chicago Board Options Exchange,
Incorporated; Notice of Filing and Immediate Effectiveness of a
Proposed Rule Change To Amend the Fees Schedule

May 10, 2017.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on April 28, 2017, Chicago Board Options Exchange, Incorporated
(the ``Exchange'' or ``CBOE'') filed with the Securities and Exchange
Commission (the ``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.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to amend its Fees Schedule. The text of the
proposed rule change is provided below. The text of the proposed rule
change is available on the Exchange's Web site (http://www.cboe.com/AboutCBOE/CBOELegalRegulatoryHome.aspx), at the Exchange's Office of
the Secretary, 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 proposes to amend its Order Routing Subsidy (ORS) and
Complex Order Routing Subsidy (CORS) Programs (collectively
``Programs''). The proposed changes will be effective on May 1, 2017.
By way of background, the ORS and CORS Programs allow CBOE to enter
into subsidy arrangements with any CBOE Trading Permit Holder (``TPH'')
(each, a ``Participating TPH'') or Non-CBOE TPH broker-dealer (each a
``Participating Non-CBOE TPH'') that meet certain criteria and provide
certain order routing functionalities to other CBOE TPHs, Non-CBOE TPHs
and/or use such functionalities themselves.\3\ (The term
``Participant'' as used in this filing refers to either a Participating
TPH or a Participating Non-CBOE TPH). Participants in the ORS Program
receive a payment from CBOE for every executed contract for simple
orders routed to CBOE through their system. CBOE does not make payments
under the ORS Program with respect to executed contracts in single-
listed options classes traded on CBOE, or with respect to complex
orders or spread orders. Similarly, participants in the CORS Program
receive a payment from CBOE for every executed contract for complex
orders routed to CBOE through their system. CBOE does not make payments
under the CORS Program with respect to executed contracts in single-
listed options classes traded on CBOE or with respect to simple orders.
Currently, under both programs the Exchange does not pay a subsidy for
customer (origin code ``C'') orders but does pay a subsidy of $0.07 per
contract for all non-customer orders.
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    \3\ See CBOE Fees Schedule, ``Order Router Subsidy Program'' and
``Complex Order Router Subsidy Program'' tables for more details on
the ORS and CORS Programs.
---------------------------------------------------------------------------

    The Exchange proposes to increase the subsidy for all non-customer
orders under both programs. The Exchange proposes that ORS/CORS
participants whose total aggregate non-customer ORS and CORS volume is
greater than 0.40% of the total national volume (excluding volume in
options classes included in Underlying Symbol List A, DJX, MXEA, MXEF,
XSP or XSPAM) will receive an additional payment of $0.07 per contract
for all executed contracts exceeding that threshold during a calendar
month. The Exchange notes that another exchange with a similar subsidy
program offers an additional payment based on the percentage of
national volume executed by the participant.\4\
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    \4\ See NASDAQ PHLX LLC Pricing Schedule, Preface (B), Customer
Rebate Program (paying an additional $0.05 per contract rebate if a
participant qualifies for Market Access and Routing Subsidy payments
and meets certain volume thresholds as a percentage of national
customer volume) and Section IV(e) [sic], Other Transaction Fees,
Market Access and Routing Subsidy.
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2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with
the Securities Exchange Act of 1934 (the ``Act'') and the rules and
regulations thereunder applicable to the Exchange and, in particular,
the requirements of Section 6(b) of the Act.\5\ Specifically, the
Exchange believes the proposed rule change is consistent with the
Section 6(b)(5) \6\ requirements that the rules of an exchange be
designed to prevent fraudulent and manipulative acts and practices, to
promote just and equitable principles of trade, to foster cooperation
and coordination with persons engaged in regulating, clearing,
settling, processing information with respect to, and facilitating
transactions in securities, to remove impediments to and perfect the
mechanism of a free and open market and a national market system, and,
in general, to protect investors and the public interest. Additionally,
the Exchange believes the proposed rule change is consistent with the
Section 6(b)(5) \7\ requirement that the rules of an exchange not be
designed to permit unfair discrimination between customers, issuers,
brokers, or dealers.
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    \5\ 15 U.S.C. 78f(b).
    \6\ 15 U.S.C. 78f(b)(5).
    \7\ Id.
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    In particular, the Exchange believes the proposed amendments to the
ORS and CORS Programs are reasonable because the proposed changes still
affords Participants an opportunity to

receive additional payments to subsidize the costs associated with
providing certain order routing functionalities. Additionally, the
Exchange believes the increased $0.07 per contract subsidy for non-
customer orders when the participating TPHs and participating Non-CBOE
TPHs reach the applicable volume threshold is reasonable because it is
similar to the subsidies paid by another exchange under a similar
subsidy program.\8\ The Exchange also believes it is reasonable,
equitable and not unfairly discriminatory to increase the subsidy as it
relates to non-customer orders only under the Programs. Particularly,
the Exchange notes that customer orders already have the opportunity to
earn various rebates, discounts or fee caps.\9\ Moreover, the Exchange
notes that another exchange also does not provide subsidies for
customer orders.\10\
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    \8\ See supra note 4.
    \9\ See e.g., CBOE Fees Schedule, Customer Large Trade Discount
and Volume Incentive Program.
    \10\ See supra note 4.
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B. Self-Regulatory Organization's Statement on Burden on Competition

    CBOE does not believe that the proposed rule change will impose any
burden on competition that is not necessary or appropriate in
furtherance of the purposes of the Act. The Exchange does not believe
that the proposed changes will impose an unnecessary burden on
intramarket competition because they will apply equally to all
participating parties. Although the subsidy for orders routed to CBOE
through a Participant's system only applies to Participants of the
Programs, the subsidies are designed to encourage the sending of more
orders to the Exchange, which should provide greater liquidity and
trading opportunities for all market participants. Additionally,
although customer orders will not be eligible for the increased subsidy
under the Programs, customer orders are eligible for other rebates,
discounts or fee caps.\11\ The Exchange also does not believe that such
changes will impose any burden on intermarket competition that is not
necessary or appropriate in furtherance of the purposes of the Act. The
Exchange notes that, should the proposed changes make CBOE more
attractive for trading, market participants trading on other exchanges
can always elect to provide order routing functionality to CBOE.
Additionally, to the extent that the proposed changes to the ORS and
CORS Programs result in increased trading volume on CBOE and lessened
volume on other exchanges, the Exchange notes that market participants
trading on other exchanges can always elect to become TPHs on CBOE to
take advantage of the trading opportunities.
---------------------------------------------------------------------------

    \11\ See e.g., CBOE Fees Schedule, Customer Large Trade Discount
and Volume Incentive Program.
---------------------------------------------------------------------------

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

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

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) of the Act \12\ and paragraph (f) of Rule 19b-4 \13\
thereunder. 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 will institute proceedings to
determine whether the proposed rule change should be approved or
disapproved.
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    \12\ 15 U.S.C. 78s(b)(3)(A).
    \13\ 17 CFR 240.19b-4(f).
---------------------------------------------------------------------------

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-CBOE-2017-038 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-CBOE-2017-038. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml).
    Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for Web site viewing and printing in
the Commission's Public Reference Room, 100 F Street NE., Washington,
DC 20549 on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of 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; the Commission does not edit
personal identifying information from submissions. You should submit
only information that you wish to make available publicly. All
submissions should refer to File Number SR-CBOE-2017-038 and should be
submitted on or before June 6, 2017.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
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    \14\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-09816 Filed 5-15-17; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 82, Number 86 (Friday, May 5, 2017)]
[Notices]
[Pages 21280-21282]
[FR Doc No: 2017-09080]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-80567; File No. TP 17-08]

Order Granting Limited Exemptions From Exchange Act Rule 10b-17
and Rules 101 and 102 of Regulation M to Alpha Architect Value Momentum
Trend ETF Pursuant to Exchange Act Rule 10b-17(b)(2) and Rules 101(d)
and 102(e) of Regulation M

May 1, 2017.
    By letter dated May 01, 2017 (the ``Letter''), counsel for Alpha
Architect ETF Trust (the ``Trust''), on behalf of the Trust, Alpha
Architect Value Momentum Trend ETF (the ``Fund''), any national
securities exchange or national securities association on or through
which shares issued by the Fund (``Shares'') are listed and/or may
subsequently trade, Quasar Distributors, LLC (the ``Distributor''), and
other persons engaging in transactions in Shares (collectively, the
``Requestors''), requested exemptions, or interpretive or no-action
relief, from Rule 10b-17 of the Securities Exchange Act of 1934, as
amended (``Exchange Act''), and Rules 101 and 102 of Regulation M, in
connection with secondary market transactions in Shares and the
creation or redemption of aggregations of 50,000 Shares (``Creation
Units'').
    The Trust is registered with the Securities and Exchange Commission
(``Commission'') under the Investment Company Act of 1940, as amended
(``1940 Act''), as an open-end management investment company. The Fund
is an exchange-traded fund (``ETF'') organized as a series of the
Trust. The Fund seeks to track the performance of the Alpha Architect
Value Momentum Trend Index (the ``Index''). The Fund intends to operate
as an ``ETF of ETFs'' by seeking to track the performance of its
underlying Index through, under normal circumstances,\1\ investing at
least 80% of its total assets \2\ in up to four ETFs that comprise the
Index (``Underlying ETFs''). The Fund also intends to invest the
remaining twenty percent of its total assets in cash and cash
equivalents, other investment companies, as well as securities and
other types of financial instruments that may not be components of the
Index, but which will help the Fund track the Index (e.g., the Fund may
invest in securities that are not components of the Index to reflect
various corporate actions and other changes to the Index such as
reconstitutions, additions, and deletions).\3\ Except for the fact that
the Fund will operate as an ETF of ETFs, the Fund will operate in a
manner identical to the Underlying ETFs.
---------------------------------------------------------------------------

    \1\ The term ``under normal circumstances'' includes, but is not
limited to, the absence of adverse market, economic, political, or
other conditions, including extreme volatility or trading halts in
the securities markets or the financial markets generally;
operational issues causing dissemination of inaccurate market
information; or force majeure type events, such as systems failure,
natural or man-made disaster, act of God, armed conflict, act of
terrorism, riot or labor disruption, or any similar intervening
circumstance.
    \2\ Regardless of the representation that the Fund generally
will invest at least 80% of its total assets in securities that
comprise the underlying Index, the Fund seeks to have a tracking
error of less than five percent in any given month over a one-year
period.
    \3\ The Fund intends, under normal circumstances, to hold shares
of the Underlying ETFs and, from time to time, for hedging purposes,
the Fund intends to short index ETFs or various types of financial
instruments including, but not limited to, futures contracts and
options on securities, indices, and futures contracts (``Financial
Instruments''). Financial Instruments held or shorted by the Fund,
if any, will be expected to provide a hedge against potential
adverse market movements.
---------------------------------------------------------------------------

    The Requestors represent, among other things, the following:
     Shares of the Fund will be issued by the Trust, an open-
end management investment company that is registered with the
Commission;
     The Trust will continuously redeem Creation Units at net
asset value (``NAV''), and the secondary market price of the Shares
should not vary

substantially from the NAV of such Shares;
     Shares of the Fund will be listed and traded on BATS
Exchange, Inc. or another exchange in accordance with exchange listing
standards that are, or will become, effective pursuant to Section 19(b)
of the Exchange Act (the ``Exchange''); \4\
---------------------------------------------------------------------------

    \4\ Further, Requestors represent in the Letter that, should the
Shares also trade on a market pursuant to unlisted trading
privileges, such trading will be conducted pursuant to self-
regulatory organization rules that have become effective pursuant to
Section 19(b) of the Exchange Act.
---------------------------------------------------------------------------

     All Underlying ETFs in which the Fund invests will either
meet all conditions set forth in relevant class relief, will have
received individual relief from the Commission, or will be able to rely
upon individual relief even though they are not named parties;
     All of the components of the Index will have publicly
available last sale trade information;
     The intra-day proxy value of the Fund per share and the
value of the Index will be publicly disseminated by a major market data
vendor throughout the trading day;
     On each business day before the opening of business on the
Exchange, the Fund's custodian, through the National Securities
Clearing Corporation, will make available the list of the names and the
required number of shares of each security to be included in the
consideration for purchase of a Creation Unit that day;
     The Exchange will disseminate continuously every 15
seconds throughout the trading day, through the facilities of the
consolidated tape, the market value of a Share, and the Exchange,
market data vendors, or other information providers will disseminate,
every 15 seconds throughout the trading day, a calculation of the
intra-day indicative value of a Share;
     The arbitrage mechanism will be facilitated by the
transparency of the Fund's portfolio and the availability of the intra-
day indicative value, the liquidity of securities held by the Fund, and
the ability to acquire such securities, as well as the arbitrageurs'
ability to create workable hedges;
     The Fund will invest solely in liquid securities and
Financial Instruments;
     The Fund will invest in securities that will facilitate an
effective and efficient arbitrage mechanism and the ability to create
workable hedges;
     The Trust believes that arbitrageurs are expected to take
advantage of price variations between the Fund's market price and its
NAV; and
     A close alignment between the market price of Shares and
the Fund's NAV is expected.

Regulation M

    While redeemable securities issued by an open-end management
investment company are excepted from the provisions of Rules 101 and
102 of Regulation M, the Requestors may not rely upon those exceptions
for the Shares.\5\ However, we find that it is appropriate in the
public interest and is consistent with the protection of investors to
grant exemptions from Rules 101 and 102 to persons who may be deemed to
be participating in a distribution of Shares of the Fund as described
in more detail below.
---------------------------------------------------------------------------

    \5\ While ETFs operate under exemptions from the definitions of
``open-end company'' under Section 5(a)(1) of the 1940 Act and
``redeemable security'' under Section 2(a)(32) of the 1940 Act, the
Fund and its securities do not meet those definitions.
---------------------------------------------------------------------------

Rule 101 of Regulation M

    Generally, Rule 101 of Regulation M is an anti-manipulation rule
that, subject to certain exceptions, prohibits any ``distribution
participant'' and its ``affiliated purchasers'' from bidding for,
purchasing, or attempting to induce any person to bid for or purchase
any security that is the subject of a distribution until after the
applicable restricted period, except as specifically permitted in the
Rule. Rule 100 of Regulation M defines ``distribution'' to mean any
offering of securities that is distinguished from ordinary trading
transactions by the magnitude of the offering and the presence of
special selling efforts and selling methods. The provisions of Rule 101
of Regulation M apply to underwriters, prospective underwriters,
brokers, dealers, or other persons who have agreed to participate in,
or are participating in, a distribution of securities. The Shares are
in a continuous distribution, and, as such, the restricted period in
which distribution participants and their affiliated purchasers are
prohibited from bidding for, purchasing, or attempting to induce others
to bid for or purchase, the Shares extends indefinitely.
    Based on the representations and the facts presented in the Letter,
particularly that the Trust is a registered open-end management
investment company that will continuously redeem, at NAV, Creation Unit
aggregations of Shares of the Fund and that a close alignment between
the market price of the Shares and the Fund's NAV is expected, the
Commission finds that it is appropriate in the public interest, and
consistent with the protection of investors, to grant the Trust an
exemption from Rule 101 pursuant to paragraph (d) of Rule 101 of
Regulation M with respect to the Shares of the Fund, thus permitting
persons participating in a distribution of Shares of the Fund to bid
for or purchase such Shares during their participation in such
distribution.\6\
---------------------------------------------------------------------------

    \6\ Additionally, we confirm the interpretation that a
redemption of Creation Unit size aggregations of Shares of the Fund
and the receipt of securities in exchange by a participant in a
distribution of Shares of the Fund would not constitute an ``attempt
to induce any person to bid for or purchase, a covered security
during the applicable restricted period'' within the meaning of Rule
101 of Regulation M and therefore would not violate that rule.
---------------------------------------------------------------------------

Rule 102 of Regulation M

    Rule 102 of Regulation M prohibits issuers, selling security
holders, and any affiliated purchaser of such person from bidding for,
purchasing, or attempting to induce any person to bid for or purchase a
covered security during the applicable restricted period in connection
with a distribution of securities effected by or on behalf of an issuer
or selling security holder.
    Based on the representations and the facts presented in the Letter,
particularly that the Trust is a registered open-end management
investment company that will redeem, at the NAV, Creation Unit
aggregations of Shares of the Fund and that a close alignment between
the market price of the Shares and the Fund's NAV is expected, the
Commission finds that it is appropriate in the public interest, and
consistent with the protection of investors, to grant the Trust an
exemption from Rule 102 pursuant to paragraph (e) of Rule 102 of
Regulation M with respect to the Fund, thus permitting the Fund to
redeem Shares of the Fund during the distribution of such Shares.

Rule 10b-17

    Rule 10b-17, with certain exceptions, requires an issuer of a class
of publicly traded securities to give notice of certain specified
actions (for example, a dividend distribution) relating to such class
of securities in accordance with Rule 10b-17(b). Based on the
representations and the facts presented in the Letter, and subject to
the conditions below, the Commission finds that it is appropriate in
the public interest, and consistent with the protection of investors,
to grant the Trust a conditional exemption from Rule 10b-17 because
market participants will receive timely notification of the existence
and timing of a pending distribution, and thus the concerns that the
Commission raised in

adopting Rule 10b-17 will not be implicated.\7\
---------------------------------------------------------------------------

    \7\ We also note that timely compliance with Rule 10b-
17(b)(1)(v)(a) and (b) would be impractical in light of the Fund's
nature because it is not possible for the Fund to accurately project
ten days in advance what dividend, if any, would be paid on a
particular record date. Further, the Commission finds, based on the
Requestors representations in the Letter, that the provision of
notices as described in the Letter would not constitute a
manipulative or deceptive device or contrivance comprehended within
the purpose of Rule 10b-17.
---------------------------------------------------------------------------

Conclusion

    It is hereby ordered, pursuant to Rule 101(d) of Regulation M, that
the Trust, based on the representations and facts presented in the
Letter, is exempt from the requirements of Rule 101 with respect to
Shares of the Fund, thus permitting persons who may be deemed to be
participating in a distribution of Shares of the Fund to bid for or
purchase such Shares during their participation in such distribution.
    It is further ordered, pursuant to Rule 102(e) of Regulation M,
that the Trust, based on the representations and the facts presented in
the Letter, is exempt from the requirements of Rule 102 with respect to
the Fund, thus permitting the Fund to redeem Shares of the Fund during
the continuous offering of such Shares.
    It is further ordered, pursuant to Rule 10b-17(b)(2), that the
Trust, based on the representations and the facts presented in the
Letter and subject to the conditions below, is exempt from the
requirements of Rule 10b-17 with respect to the transactions in the
Shares of the Fund.
    The exemption from Rule 10b-17 is subject to the following
conditions:
     The Trust will comply with Rule 10b-17, except for Rule
10b-17(b)(1)(v)(a) and (b); and
     The Trust will provide the information required by Rule
10b-17(b)(1)(v)(a) and (b) to the Exchange as soon as practicable
before trading begins on the ex-dividend date, but in no event later
than the time when the Exchange last accepts information relating to
distributions on the day before the ex-dividend date.
    This exemptive relief is subject to modification or revocation at
any time the Commission determines that such action is necessary or
appropriate in furtherance of the purposes of the Exchange Act. These
exemptions are based on the facts presented and the representations
made in the Letter. Any different facts or representations may require
a different response. Persons relying upon this exemptive relief shall
promptly present the facts for the Commission's consideration in the
event that any material change occurs with respect to any of the facts
or representations made by the Requestors, and, as is the case with all
preceding relief for ETFs, particularly with respect to the close
alignment between the market price of Shares and the Fund's NAV. In
addition, persons relying on these exemptions are directed to the anti-
fraud and anti-manipulation provisions of the Exchange Act,
particularly Sections 9(a), 10(b), and Rule 10b-5 thereunder.
Responsibility for compliance with these and any other applicable
provisions of the federal securities laws must rest with the persons
relying on these exemptions.
    This Order should not be considered a view with respect to any
other question that the proposed transactions may raise, including, but
not limited to, the adequacy of the disclosure concerning, and the
applicability of other federal or state laws to, the proposed
transactions.
---------------------------------------------------------------------------

    \8\ 17 CFR 200.30-3(a)(6) and (9).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-09080 Filed 5-4-17; 8:45 am]
 BILLING CODE 8011-01-P


                          Attachment G: Consultation

Title: Pesticide Registration Fees Program
OMB No: 2070-0179
EPA No: 2330.04
Consultation conducted: January 9, 2020

Stakeholders: Pyxis Regulatory Consulting, Syngenta, and Bengal Products.

Consultation Summary: Following the publication of the first Federal Register Notice of the Pesticide Registration Fees Program ICR, stakeholders were contacted by EPA and asked for their assessment of the regulatory burden estimates expressed by the Agency in thee Pesticide Registration Fees Program ICR (See below).  Stakeholder responses are voluntary during the consultation process. At the end of the consultation period, stakeholders provided no response or comment.

 When preparing your waiver request did you conduct any research on the EPA websites https://www.epa.gov/pria-fees and https://www.epa.gov/pesticide-registration/pesticideregistration-fees-and-fee-waivers?

 Were these resources helpful to you?

 Are there improvements or clarifications that you'd like to suggest for the waiver resource websites?

 Most registrants use Pay.gov to pay for PRIA and product registration maintenance fees. Do you use the Pay.gov site?

 If you use the Pay.gov website, do you find it helpful? Was the site easy to use?

 The projected hourly industry wage rates used to calculate the burden estimates in the Pesticide Registration Fees Program renewal ICR are $143.29 for Management; $74.95 for Technical; and $47.78 for Clerical. These rates are fully loaded rates. Are these industry averages too high, too low or just about right for your company? Or alternatively, what do you think the appropriate hourly wages are?

 Would you like to submit any additional comments?


[Federal Register Volume 87, Number 122 (Monday, June 27, 2022)]
[Notices]
[Pages 38146-38147]
[FR Doc No: 2022-13634]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. ID-9516-000]

Szekeres, Michelle V.; Notice of Filing

    Take notice that on June 9, 2022, Michelle V. Szekeres submitted
for filing, application for authority to hold interlocking positions,
pursuant to section 305(b) of the Federal Power Act, 16 U.S.C. 825d (b)
and part 45.8 of the Federal Energy Regulatory Commission's
(Commission) Rules of Practice and Procedure, 18 CFR part 45.8.
    Any person desiring to intervene or to protest this filing must
file in accordance with Rules 211 and 214 of the Commission's Rules of
Practice and Procedure (18 CFR 385.211, 385.214). Protests will be
considered by the Commission in determining the appropriate action to
be taken but will not serve to make protestants parties to the
proceeding. Any person wishing to become a party must file a notice of
intervention or motion to intervene, as appropriate. Such notices,
motions, or protests must be filed on or before the comment date. On or
before the comment date, it is not necessary to serve motions to
intervene or protests on persons other than the Applicant.
    In addition to publishing the full text of this document in the
Federal Register, the Commission provides all interested persons an
opportunity to view and/or print the contents of this document via the
internet through the Commission's Home Page (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. At this time,
the Commission has suspended access to the Commission's Public
Reference Room, due to the proclamation declaring a National Emergency
concerning the Novel Coronavirus Disease (COVID-19), issued by the
President on March 13, 2020. For

assistance, contact the Federal Energy Regulatory Commission at
[email protected] or call toll-free,<PHONE_NUMBER> or TYY,
(202) 502-8659.
    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 may mail
similar pleadings to the Federal Energy Regulatory Commission, 888
First Street NE, Washington, DC 20426. Hand delivered submissions in
docketed proceedings should be delivered to Health and Human Services,
12225 Wilkins Avenue, Rockville, Maryland 20852.
    Comment Date: 5:00 p.m. Eastern Time on June 30, 2022.

    Dated: June 21, 2022.
Kimberly D. Bose,
Secretary.
[FR Doc. 2022-13634 Filed 6-24-22; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 80, Number 199 (Thursday, October 15, 2015)]
[Notices]
[Pages 62146-62147]
[FR Doc No: 2015-26147]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-76116; File No. SR-BX-2015-050]

Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Order
Approving Proposed Rule Change To Adopt a Kill Switch

October 8, 2015.

I. Introduction

    On August 7, 2015, NASDAQ OMX BX, Inc. (the ``Exchange'' or ``BX'')
filed with the Securities and Exchange Commission (``Commission''),
pursuant to section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule

19b-4 thereunder,\2\ a proposed rule change to adopt a risk protection
functionality referred to as a kill switch that will be available to
all Participants of the Exchange. The proposed rule change was
published for comment in the Federal Register on August 27, 2015.\3\
The Commission received no comment letters on the proposed rule change.
This order approves the proposed rule change.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4
    \3\ See Securities Exchange Act Release No. 75744 (August 27,
2015), 80 FR 52068 (``Notice'').
---------------------------------------------------------------------------

II. Description of the Proposed Rule Change

    The Exchange proposes to offer to all its members a new optional
risk protection functionality for options to help members control their
quote and order activity on the Exchange.\4\ Referred to as a ``Kill
Switch,'' the functionality will allow BX Participants to remove quotes
and cancel open orders, and will prevent the submission of new quotes
and orders until the Exchange re-enables access to the BX System for
the Participant.
---------------------------------------------------------------------------

    \4\ See id.
---------------------------------------------------------------------------

    To use the Kill Switch, a Participant will send a message \5\ to
the BX System to: (i) Promptly remove quotes; and/or (ii) promptly
cancel orders for certain specified Identifiers (e.g., a particular
Exchange account, port, or badge or mnemonic, or for a group of
Identifiers).\6\ The Exchange's proposal does not allow Participants to
remove quotes or cancel orders by symbol. The BX System will send an
automated message to the Participant when it has processed a Kill
Switch request.
---------------------------------------------------------------------------

    \5\ BX Participants will be able to utilize an interface to send
a message to the Exchange to initiate the Kill Switch, or they may
contact the Exchange directly. See Notice, supra note 3, at note 3.
    \6\ Permissible groups could be formed only within a single
broker-dealer. For example, a group could include, but would not be
limited to, all market maker accounts or all order entry ports. See
Notice, supra note 3.
---------------------------------------------------------------------------

    The BX Participant will be unable to enter any new quotes or orders
using the affected Identifier(s) until the Participant makes a verbal
request to the Exchange and Exchange staff enables re-entry. Once
enabled for re-entry, the Exchange will send a message to the
Participant and, if it requests to receive such notifications, to the
Participant's clearing firm as well.

III. Discussion and Commission Findings

    After careful review, the Commission finds that the proposed rule
change is consistent with the requirements of the Act and the rules and
regulations thereunder applicable to a national securities exchange,\7\
and, in particular, the requirements of section 6 of the Act.\8\ In
particular, the Commission finds that the proposed rule change is
consistent with section 6(b)(5) of the Act,\9\ which requires, among
other things, that the rules of a national securities exchange be
designed to prevent fraudulent and manipulative acts and practices, to
promote just and equitable principles of trade, to foster cooperation
and coordination with persons engaged in facilitating transactions in
securities, to remove impediments to and perfect the mechanism of a
free and open market and a national market system, and, in general, to
protect investors and the public interest and that the rules are not
designed to permit unfair discrimination between customers, issuers,
brokers, or dealers.
---------------------------------------------------------------------------

    \7\ In approving this proposed rule change, the Commission has
considered the proposed rule's impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
    \8\ 15 U.S.C. 78f.
    \9\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    According to the Exchange, the proposed rule change is designed to
protect BX Participants in the event that the Participant encounters a
situation, like a systems issue, for which they would like to withdraw
temporarily from the market.\10\ The Exchange further notes that the
proposed Kill Switch is designed to increase systemic protections and,
in so doing, so should encourage liquidity generally while removing
impediments to market participation.\11\ To the extent that the
Exchange's proposal provides member firms with greater control over
their quotes and orders, and allows firms to remove quotes and cancel
orders in an appropriate manner, then the proposal may encourage firms
to provide liquidity on BX and thus contribute to fair and orderly
markets in a manner that protects the public interest, protects
investors, and is not designed to permit unfair discrimination.
---------------------------------------------------------------------------

    \10\ See Notice at 52069.
    \11\ See id.
---------------------------------------------------------------------------

    Further, the Commission agrees that it would be appropriate to
notify a Participant's clearing member, at the clearing member's
request, once a Participant's selected Identifiers are re-enabled
following the Participant's use of the Kill Switch. Because the
clearing member accepts financial responsibility for clearing the
Participant's trades, notifying the applicable clearing member of a
Participant's re-enabled Identifiers following use of the Kill Switch
may be appropriate and help the clearing member manage the risk
associated with the Participant's trading activity.
    The Commission notes that the Exchange represented in its proposal
that the Kill Switch will operate consistently with a broker-dealer's
firm quote obligations pursuant to Rule 602 of Regulation NMS,\12\ and
that the proposal does not diminish a market-maker's obligation to
provide continuous two-sided quotes on a daily basis under BX
rules.\13\ Specifically, the Exchange represents that ``any interest
that is executable against a BX Participant's quotes and orders that
are received by the Exchange prior to the time the Kill Switch is
processed by the System will automatically execute at the price up to
the BX Participant's size.'' \14\ In that respect, the Exchange further
represented that ``[t]he Kill Switch message will be accepted by the
System in the order of receipt in the queue and will be processed in
that order so that interest that is already accepted into the System
will be processed prior to the Kill Switch message.'' \15\ Based on
these representations, the Commission believes that the proposal is
designed to promote just and equitable principles of trade and perfect
the mechanism of a free and open market.
---------------------------------------------------------------------------

    \12\ Id.
    \13\ Id.
    \14\ Id.
    \15\ Id.
---------------------------------------------------------------------------

    Accordingly, the Commission finds that the Exchange's proposal is
consistent with the Act, including section 6(b)(5) thereof, in that it
is designed to promote just and equitable principles of trade, foster
cooperation and coordination with persons engaged in facilitating
transactions in securities, 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.

IV. Conclusion

    It is therefore ordered, pursuant to section 19(b)(2) of the
Act,\16\ that the proposed rule change (SR-BX-2015-050) be, and hereby
is, approved.
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    \16\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\17\
---------------------------------------------------------------------------

    \17\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-26147 Filed 10-14-15; 8:45 am]
 BILLING CODE 8011-01-P