[Federal Register: July 7, 2008 (Volume 73, Number 130)]
[Notices]
[Page 38474-38479]
[DOCID:fr07jy08-130]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-58057; File No. SR-Amex-2008-36]

Self-Regulatory Organizations; American Stock Exchange LLC; Order
Granting Accelerated Approval of Proposed Rule Change to List and Trade
Shares of the MacroShares $100 Oil Up Trust and the MacroShares $100
Oil Down Trust

June 30, 2008.

I. Introduction

    On May 20, 2008, the American Stock Exchange LLC (``Amex'' or
``Exchange''), filed with the Securities and Exchange Commission
(``Commission''), pursuant to Section 19(b)(1) of the Securities
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a
proposed rule change to: (1) Amend Amex Rules 1400, 1401, 1402 and 1405
relating to the trading of Paired Trust Shares; and (2) list and trade
shares (``Shares'') of the MacroShares $100 Oil Up Trust (``Up Trust'')
and the MacroShares $100 Oil Down Trust (``Down Trust'') (collectively,
the ``Trusts''). The proposed rule change was published for comment in
the Federal Register on

June 11, 2008 for a 15-day comment period.\3\ The Commission received
no comments on the proposal. This order approves the proposed rule
change on an accelerated basis.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 57925 (June 5,
2008), 73 FR 33121 (``Notice'').
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II. Description of the Proposal

    The Exchange proposes to amend Amex Rules 1400, 1401, 1402 and
1405, which apply to Paired Trust Shares, to accommodate the listing
and trading of shares of the Up Trust (``Up MacroShares'') and shares
of the Down Trust (``Down MacroShares''). In their current form, these
rules apply to Paired Trust Shares that consist of Holding Shares and
Tradeable Shares.\4\
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    \4\ Holding Shares are issued by a matched pair of trusts
(``Holding Trusts'') in exchange for cash; Tradeable Shares are
issued by a different pair of trusts (``Tradeable Trusts'') in
exchange for the deposit of Holding Shares.
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A. Amendments to Amex Rules 1400, 1401, 1402 and 1405

    The Exchange proposes to amend Amex Rules 1400, 1401, 1402 and 1405
to provide for the listing and trading of Paired Trust Shares in the
case of a series that has only one set of paired trusts.\5\ Under the
proposed amendments to Amex Rule 1400, the term ``Paired Trust Shares''
refers to: (1) Both Holding Shares and any related Tradeable Shares; or
(2) solely ``Trading Shares,'' which is a new defined term. As
proposed, Trading Shares has the same definition as Holding Shares,
except that it is not required that a majority of Trading Shares be
acquired and deposited in a related Tradeable Trust, as it is with
Holding Shares. The Exchange proposes conforming changes in Amex Rules
1401, 1402 and 1405.\6\ The Exchange represents that there are no
substantive differences between the proposed Paired Trust Shares
structure (i.e., a single set of Trading Trusts that issue Trading
Shares and hold financial instruments) and the current two-tier
structure (i.e., a set of Tradeable Trusts that issue Tradeable Shares
and hold Holding Shares issued by a set of Holding Trusts that invest
in financial instruments).
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    \5\ The Exchange states that it has been notified that the need
for the current two-tier trust structure set forth in Amex Rule 1400
for Paired Trust Shares is no longer necessary as a result of a
recent interpretation by the staff of the Internal Revenue Service
relating to the inability to interpose a grantor trust to utilize a
certain tax reporting form.
    \6\ In paragraph (b)(i) of Amex Rule 1402, the Exchange also
proposes to correct an error that was inadvertently made when the
rule was originally adopted by replacing the word ``certificates''
with the word ``shares'' (consistent with all other references to
shares in the rules for Paired Trust Shares).
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B. Listing and Trading the Shares

    The Up MacroShares and the Down MacroShares represent undivided
beneficial interests in the Up Trust and the Down Trust, respectively.
The Up Trust and the Down Trust would issue Up MacroShares and Down
MacroShares, respectively, on a continuous basis on an ongoing basis at
any time after the closing date only to and as directed by authorized
participants, at the per-Share values of those Shares on the business
day on which a creation order for the Shares is delivered to and
accepted by the administrative agent for both Trusts.\7\ The Shares
then may be sold by authorized participants to the public at the
prevailing market price. As mentioned above, Amex proposes to list and
trade the Shares pursuant to amended Amex Rules 1400, 1401, 1402 and
1405.
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    \7\ The Up MacroShares and the Down MacroShares may be issued
only in MacroShares Units, consisting of 50,000 Up MacroShares
issued by the Up Trust and 50,000 Down MacroShares issued by the
Down Trust.
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    The assets of each Trust will include an income distribution
agreement and settlement contracts entered into with the other Trust.
Under the income distribution agreement, as of any distribution date,
each Trust will either: (1) Be required to pay all or a portion of its
available income to the other Trust; or (2) be entitled to receive all
or a portion of the other Trust's available income, based, in each
case, on the level of the Applicable Reference Price of Crude Oil \8\
for each day during the preceding calculation period. Under each
settlement contract, in connection with the final scheduled termination
date, an early termination date or any redemption date, each Trust will
either be required to make a final payment out of its assets to the
other Trust or be entitled to receive a final payment from the other
Trust out of the assets of the other Trust, based, in each case, on the
change in the level of the Applicable Reference Price of Crude Oil from
its starting level on the closing date to its ending level on the
relevant price determination day preceding the final scheduled
termination date, early termination date, or redemption date, as the
case may be. Each Trust will also hold U.S. Treasuries and repurchase
agreements on U.S. Treasuries (collectively, ``treasuries'') to secure
its obligations under the income distribution agreement and the
settlement contracts. Each Trust will make quarterly distributions of
income on the treasuries and a final distribution of all assets it
holds on deposit on the final scheduled termination date, an early
termination date or a redemption date.\9\ Each quarterly and final
distribution will be based on the value of the Applicable Reference
Price of Crude Oil.
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    \8\ The Applicable Reference Price of Crude Oil is defined as
the settlement price of the New York Mercantile Exchange (``NYMEX'')
division light sweet crude oil futures contract of the designated
maturity, as established and reported by the NYMEX on a per barrel
basis in U.S. dollars at the end of each price determination day.
    \9\ Each Trust's quarterly distribution to holders of that
Trust's Shares will be made out of the income that it holds on
deposit after it has deducted an appropriate amount for fees, either
made or received a payment under the income distribution agreement,
and acquired treasuries with an aggregate purchase price equal to
the aggregate par amount of the outstanding Shares of that Trust on
that distribution date. On any distribution date, if a Trust's
actual fees and expenses exceeds its income from the treasuries,
there will be a corresponding reduction in the underlying value of
the Trust that will be permanent unless it can be made up out of
treasury income on future distribution dates, net of fees and
expenses on those distribution dates.
    Each Trust's final distribution to holders of that Trust's
Shares will depend on the payments that it is required to make to,
or that it is entitled to receive from, the other Trust under the
settlement contracts that are settled in connection with the final
scheduled termination date, early termination date, or redemption
date, as the case may be.
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    With respect to the Up Trust, if the level of the Applicable
Reference Price of Crude Oil on any price determination day exceeds its
starting level on the closing date (the date on which the Trusts
entered into the income distribution agreement), the underlying value
of the Up Trust will increase to include all of its assets plus a
portion of the assets of the paired Down Trust. Conversely, if the
level of the Applicable Reference Price of Crude Oil on any price
determination day falls below its starting level, the Up Trust's
underlying value will decrease because a portion of its assets will be
included in the underlying value of the paired Down Trust. The
underlying value of the Up Trust on each price determination day
represents the aggregate amount of the assets in the paired Trusts to
which the Up Trust would be entitled if the settlement contracts were
settled on that day.
    With respect to the Down Trust, if the level of the Applicable
Reference Price of Crude Oil on any price determination day exceeds its
starting level on the closing date, the underlying value of the Down
Trust will decrease because a portion of its assets will be included in
the underlying value of the paired Up Trust. Conversely, if the level
of the Applicable Reference Price of Crude Oil on any price
determination day falls below its starting level, the Down Trust's
underlying value will increase to

include all of its assets plus a portion of the assets of the Up Trust.
The underlying value of the Down Trust on each price determination day
represents the aggregate amount of the assets in the paired Trusts to
which the Down Trust would be entitled if the settlement contracts were
settled on that day.
    The Notice and the Registration Statements contain more information
regarding the Shares, the Trusts, the Applicable Reference Price of
Crude Oil, quarterly distributions, final distributions, price
determination days, underlying values, risks, fees and expenses,
termination triggers, and creation and redemption procedures.
1. Availability of Information Regarding the Shares
a. Intraday Indicative Values
    Throughout each price determination day, Amex, acting as the
calculation agent for each Trust, will calculate and disseminate, at
least every 15 seconds during regular Amex trading hours, through the
facilities of the Consolidated Tape Association (``CTA''), an estimated
value (referred to as an ``Intraday Indicative Value'' or ``IIV'') of
the values per-Share of both the Up MacroShares and the Down
MacroShares. To enable this calculation, Amex will receive real time
price data from the NYMEX through major market data vendors for the
light sweet crude oil futures contract of the designated maturity that
trades on the NYMEX.
    Because the NYMEX market for the light sweet crude oil futures
contract will be closed for portions of Amex trading day, the IIV
calculated values will become fixed and will not be updated at such
times that the NYMEX contract is not trading.\10\ Conversely, at times
when the light sweet crude oil futures contract of the designated
maturity is trading on NYMEX, those trades will be used to update the
IIV values.
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    \10\ The IIV calculated during the period following the daily
opening of trading of the Shares on Amex but prior to any trades
taking place on the NYMEX in the relevant light sweet crude oil
futures contract will be based on the final price of the futures
contract on the prior trading day.
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    Amex will make available through its in-house systems, for use by
the specialist and market makers, the IIV values distributed through
the facilities of the CTA. This data will also be available to Amex
surveillance systems and personnel for their purposes.
b. Availability of Other Information and Data
    At the end of each price determination day, Amex will calculate the
premium or discount of the midpoint of the bid/offer for the Up
MacroShares at the close on Amex relative to the value per share for
that price determination day, after the latter is calculated and
provided to Amex by the trustee. Amex will also perform the same
calculation with respect to the Down MacroShares. Amex will then post
these premiums/discounts, together with the end-of-day price
information for the Shares, on its Web site (http://www.amex.com/
amextrader). Further, Amex will post on its Web site any corrections
made by NYMEX to the Applicable Reference Price of Crude Oil that was
reported by NYMEX for any price determination day. Amex also intends to
disseminate a variety of data with respect to the Shares on a daily
basis by means of CTA and CQ High Speed Lines, including quotation and
last-sale data information.
    On each price determination day, State Street Bank and Trust
Company, the trustee for the Up Trust and the Down Trust, will
calculate the value of the Up Trust and the Down Trust and the per-
Share values of the Up MacroShares and Down MacroShares, based on the
Applicable Reference Price of Crude Oil established and reported by
NYMEX. The trustee will then provide such values to the administrative
agent, which will post them on its Web site (http://
www.macromarkets.com). All investors and market participants will have
access to the administrative agent's Web site at no charge.
    Information regarding secondary market prices and volume of the
Shares will be broadly available on a real-time basis throughout the
trading day on brokers' computer screens and other electronic services.
The previous day's closing price and trading volume information will be
published daily in the financial section of newspapers.
    Delayed information on futures contracts is often publicly
available from futures exchanges. Daily settlement prices for the oil
futures contract designated as the Applicable Reference Price of Crude
Oil for the Shares is publicly available on NYMEX's Web site.
2. Initial and Continued Listing Criteria
    Amex Rule 1402 sets forth initial and continued listing criteria
applicable to Paired Trust Shares. Currently, these criteria are
applicable to Holding Shares and Tradeable Shares. The proposed rule
change would make them applicable to Trading Shares as well.
    A minimum of 150,000 Up MacroShares and 150,000 Down MacroShares
will be required to be outstanding at the commencement of trading. The
Exchange believes that this minimum number of outstanding Shares at the
start of trading is sufficient to provide adequate market liquidity,
and it is the same initial minimum requirement that was applicable to
the Claymore MACROshares Oil Up Tradeable Shares and the Claymore
MACROshares Oil Down Tradeable Shares (the first series of Paired Trust
Shares to be listed and traded on the Exchange). The starting level for
the Applicable Reference Price of Crude Oil will be $100 and is based
on recent prices for a barrel of light sweet crude oil. The Exchange
will obtain a representation on behalf of the Up Trust and the Down
Trust that the values per-Share of the Up MacroShares and Down
MacroShares, respectively, will be calculated daily and will be made
available to all market participants at the same time. The Exchange
will remove from listing the Up MacroShares or the Down MacroShares
under the following circumstances, pursuant to proposed Amex Rule 1402:
     If following the initial twelve month period following the
commencement of trading of the Shares: (1) The Up Trust or the Down
Trust has more than 60 days remaining until termination and there are
fewer than 50 record and/or beneficial holders of Up MacroShares or
Down MacroShares, respectively, for 30 or more consecutive trading
days; (2) if the Up Trust or the Down Trust has fewer than 50,000 Up
MacroShares or Down MacroShares, respectively, issued and outstanding;
or (3) if the combined market value of all Shares issued and
outstanding for the Up Trust and the Down Trust combined is less than
$1,000,000;
     If the intraday level of the Applicable Reference Price of
Crude Oil is no longer calculated or available on at least a 15-second
delayed basis during the time the Shares trade on Amex from a source
unaffiliated with the sponsor, custodian, depositor, Up Trading Trust,
Down Trading Trust or the Exchange that is a major market data vendor;
     If the IIV of each Up Trading Share or Down Trading Share,
as the case may be, is no longer made available on at least a 15-second
delayed basis by a major market data vendor during the time the Shares
trade on the Exchange;
     If a replacement benchmark is selected for the
determination of the Applicable Reference Price of Crude Oil, unless
the Exchange files with the Commission a related proposed rule change
pursuant to Commission Rule 19b-4 under the Act seeking approval to
continue trading the Up MacroShares or Down MacroShares and such rule

change is approved by the Commission; or
     If such other event shall occur or condition exists which
in the opinion of the Exchange makes further dealings on the Exchange
inadvisable.
3. Trading Halts
    Prior to the commencement of trading, the Exchange will issue an
Information Circular (described below) to members informing them of,
among other things, Exchange policies regarding halts in trading of the
Shares. First, the Information Circular will advise that trading will
be halted in the event the market volatility trading halt parameters
set forth in Amex Rule 117 have been reached. In exercising its
discretion to halt or suspend trading in the Shares, the Exchange may
also consider other relevant factors and the existence of unusual
conditions or circumstances that may be detrimental to the maintenance
of a fair and orderly market. During any trading halt in the Shares,
the underlying light sweet crude oil futures contracts are expected to
continue to trade on the NYMEX because the NYMEX does not provide for
trading halts in these contracts.
    In the event that (a) The underlying value of each Trust or the
per-Share values of each of the Up Trading Shares or the Down Trading
Shares are not disseminated daily to all market participants at the
same time, (b) the IIV, updated at least every 15 seconds, for the
underlying value per Share of the Up Trading Shares or the Down Trading
Shares is no longer being calculated or disseminated by a major market
data vendor during the time the Shares trade on Amex, or (c) the price
of the NYMEX light sweet crude oil futures contract is no longer
available at least every 15 seconds from a major market data vendor
during the time the Shares trade on Amex \11\ (e.g., due to a temporary
disruption in connection with either the pricing of the light sweet
crude oil futures contract on the NYMEX or the transmission of real
time price data from the NYMEX), then the Exchange will halt
trading.\12\ However, in the case of (b) or (c) involving interruption
to the required dissemination of IIVs or futures contract prices, the
Exchange may consider relevant factors and exercise its discretion
regarding the halt or suspension of trading during the day in which the
interruption to the dissemination of the IIVs or the futures contract
prices occurs. If the interruption to the dissemination of the IIVs or
the futures contract prices persists past the trading day in which it
occurred, the Exchange will halt trading no later than the beginning of
the trading day following the interruption.
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    \11\ Trading in the MACRO Tradeable Shares will not be halted on
Amex, however, simply because price data from the NYMEX based on
current trading is not available outside the normal open outcry
trading hours of light sweet crude oil futures contracts on the
NYMEX from 10 a.m. to 2:30 p.m., Eastern Time.
    \12\ In each of these circumstances, the Exchange may contact
the Commission staff to discuss the matter.
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4. Trading Rules
    The Shares are equity securities subject to Amex Rules governing
the trading of equity securities, including, among others, rules
governing priority, parity and precedence of orders, specialist
responsibilities and account opening and customer suitability (Amex
Rule 411). The Shares will trade on Amex from 9:30 a.m. until either 4
p.m. or 4:15 p.m. Eastern Time each business day for each series, as
specified by the Exchange, and will trade in a minimum price variation
of $0.01 pursuant to Amex Rule 127-AEMI. Trading rules pertaining to
odd-lot trading in Amex equities (Amex Rule 205-AEMI) will also apply.
    Amex Rule 154-AEMI(c)(ii) provides that stop and stop limit orders
to buy or sell a security the price of which is derivatively priced
based upon another security or index of securities, may be elected by a
quotation, as set forth in subparagraphs (c)(ii)(1)-(4) of Amex Rule
154-AEMI . By this rule filing, the Exchange is designating the Shares
as eligible for this treatment.\13\ In addition, Amex Rule 126A-AEMI
complies with Rule 611 of Regulation NMS, which requires, among other
things, that the Exchange adopt and enforce written policies and
procedures that are reasonably designed to prevent trade-throughs of
protected quotations. Members and member organizations will be subject
to Commentary .03 to Amex Rule 1400 prohibiting such member or member
organizations from entering into the Exchange's order routing system
multiple limit orders as agent (i.e., customer agency orders).
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    \13\ See Securities Exchange Act Release No. 29063 (April 10,
1991), 56 FR 15652 (April 17, 1991) (SR-Amex-90-31) at note 9,
regarding the Exchange's designation of equity derivative securities
as eligible for such treatment by means of a new rule filing with
the Commission. In the instant case, the price of the Up MacroShares
and the Down MacroShares are derivatively based upon, and should
fluctuate with, the value of the underlying settlement contracts
held by the Up Trust or the Down Trust, as the case may be, which
settlement contracts: (1) Determine the amount of the aggregate
assets in the paired Trusts to which each respective Trust would be
entitled if settlement occurred on that day; and (2) have a value
that is determined by the level of the Applicable Reference Price of
Crude Oil. Consequently, as with other equity derivative securities
designated by the Exchange as eligible under the terms of Securities
Exchange Act Release No. 29063 to allow stop and stop limit orders
to be elected by a quotation, the Exchange believes that the
derivative pricing relationship to which the Shares are subject does
not present the type of opportunity for manipulation and trading
abuses in connection with elections of stop orders by specialists
that the Commission seeks to prohibit.
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5. Information Circular
    Prior to the commencement of trading, the Exchange will inform its
members and member organizations in an Information Circular of the
special characteristics and risks associated with trading the Shares.
Specifically, the Information Circular will discuss the following: (1)
What the Shares are; (2) the procedures for purchases and paired
optional redemptions of Shares, which may only be effected in
MacroShares Units \14\ or multiples thereof by Authorized Participants
(noting in particular that Shares are not individually redeemable); (3)
prospectus delivery requirements that are applicable in connection with
the purchase of newly issued Shares by investors; (4) applicable Amex
rules; (5) dissemination of information regarding the underlying value
of each Trust and the share of that underlying value allocable to one
Up MacroShare and one Down MacroShare; (6) trading information; and (7)
suitability obligations of members with respect to recommended
transactions to customers in the Shares (discussed below).
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    \14\ See supra note 7.
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    In addition, the Information Circular will reference that the
Shares are subject to various fees and expenses described in the
Registration Statements on Form S-1 for the Up MacroShares or the Down
MacroShares, as applicable.\15\ The Information Circular will discuss
any exemptive, no-action, and interpretive relief granted by the
Commission from any rules under the Exchange Act. It will also
reference the fact that the Commission has no jurisdiction over the
trading of the NYMEX light sweet crude oil futures contract. Finally,
the Information Circular will also advise members that the upside gains
to investors are capped once the price level percentage change of the
Applicable Reference Price of Crude Oil equals or exceeds 100%.
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    \15\ On April 17, 2008, the depositor filed with the Commission
a Registration Statement on Form S-1 for both the Up MacroShares
(File No. 333-150282-01) (``Up Trust Registration Statement'') and
the Down MacroShares (File No. 333-150282-02) (``Down Trust
Registration Statement'' and together with the Up Trust Registration
Statement, the ``Registration Statements'').
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6. Suitability
    The Exchange, in the Information Circular referenced above, will
inform

members and member organizations of the characteristics of the Trusts
and the Shares and of applicable Exchange rules, as well as of the
requirements of Amex Rule 411 (Duty to Know and Approve Customers).
    The Exchange notes that pursuant to Amex Rule 411, members and
member organizations are required in connection with recommending
transactions in the Shares to have a reasonable basis to believe that a
customer is suitable for the particular investment given reasonable
inquiry concerning the customer's investment objectives, financial
situation, needs, and any other information known by such member.
7. Surveillance
    The Exchange represents that its surveillance procedures are
adequate to properly monitor the trading of the Shares and to deter and
detect violations of Exchange rules and applicable federal securities
laws. Specifically, Amex will rely on its existing surveillance
procedures applicable to derivative securities products, including
Paired Trust Shares, to monitor trading in the Shares. In addition, the
Exchange also has a general policy prohibiting the distribution of
material, non-public information by its employees.
    The Exchange currently has in place a comprehensive surveillance
sharing agreement with the NYMEX for the purpose of providing
information in connection with trading in, or related to, futures
contracts traded on the NYMEX that will serve as the Applicable
Reference Price of Crude Oil. This agreement supports the surveillance
responsibilities of the two exchanges, including monitoring for
fraudulent and manipulative practices in the trading of the Shares. The
Exchange also notes that NYMEX is a member of the Intermarket
Surveillance Group (``ISG'') and a signatory to the existing ISG
Agreement, as is Amex. Pursuant to the ISG Agreement, NYMEX has the
obligation to provide relevant surveillance information in response to
a request from Amex.

III. Discussion and Commission's Findings

    The Commission has carefully reviewed the proposed rule change and
finds that it is consistent with the requirements of Section 6 of the
Act \16\ and the rules and regulations thereunder applicable to a
national securities exchange.\17\ In particular, the Commission finds
that the proposal is consistent with Section 6(b)(5) of the Act,\18\
which requires, among other things, that the Exchange's rules be
designed to promote just and equitable principles of trade, to remove
impediments to and perfect the mechanism of a free and open market and
a national market system, and, in general, to protect investors and the
public interest.
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    \16\ 15 U.S.C. 78f.
    \17\ 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).
    \18\ 15 U.S.C. 78f(b)(5).
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A. Amendments to Amex Rules 1400, 1401, 1402 and 1405

    Amex Rule 1400 governs the listing and trading of Paired Trust
Shares. The definition of Paired Trust Shares is currently limited to
Holding Shares and Tradeable Shares.\19\ Amex proposes to broaden the
definition of Paired Trust Shares to include Trading Shares. The
structure of Trading Shares differs from the structures described under
the current Amex Rules governing Paired Trust Shares in that, for
Trading Shares, there are no Holding Trusts and there is only one set
of trusts (i.e., the ``Up Trust'' and the ``Down Trust'') instead of
two. The Exchange has represented that there are no substantive
differences in the new structure, which has been proposed because of a
recent interpretation by the staff of the Internal Revenue Service that
the two-tier Holding Shares and Tradeable Shares structure is no longer
necessary.
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    \19\ See current Amex Rule 1400(b)(1).
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    The Commission finds that Amex's proposal contains adequate rules
and procedures to govern the listing and trading of Trading Shares on
the Exchange. Previously, the Commission found that the current rules
governing the listing and trading of Paired Trust Shares are consistent
with Section 6(b)(5) of the Act.\20\ Given the substantial similarities
between the current and proposed types of Paired Trust Shares, the
Commission believes that including Trading Shares within Amex's
existing regime for listing and trading Paired Trust Shares is
appropriate and does not raise any regulatory issues.
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    \20\ See Securities Exchange Act Release No. 54839 (November 29,
2006), 71 FR 70804, 70809 (December 6, 2006) (SR-AMEX-2006-82).
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    The Commission believes that the proposal should help to facilitate
the listing and trading of additional types of exchange-traded products
that should enhance competition among market participants, to the
benefit of investors and the marketplace. In addition, the Commission
believes that the listing and trading criteria for Trading Shares set
forth in proposed Amex Rule 1400 are reasonably designed to protect
investors and the public interest, as discussed herein.

B. Listing and Trading the Shares

    The Commission finds that the proposal to list and trade the Shares
on the Exchange is consistent with Section 11A(a)(1)(C)(iii) of the
Act,\21\ which sets forth Congress' finding that it is in the public
interest and appropriate for the protection of investors and the
maintenance of fair and orderly markets to assure the availability to
brokers, dealers, and investors of information with respect to
quotations for and transactions in securities. Amex will disseminate a
variety of data with respect to the Shares on a daily basis by means of
CTA and CQ High Speed Lines, including quotation and last-sale data
information. The Exchange states that information regarding secondary
market prices and volume of the Shares will be broadly available on a
real-time basis throughout the trading day on brokers' computer screens
and other electronic services, and that the previous day's closing
price and trading volume information will be published daily in the
financial section of newspapers. Amex will also post the premium or
discount of the midpoint of the bid/offer for the Up MacroShares and
Down MacroShares at the close on Amex relative to the values per Share
for that price determination day, together with the end-of-day price
information for the Shares, on its Web site (http://www.amex.com/
amextrader).\22\
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    \21\ 15 U.S.C. 78k-1(a)(1)(C)(iii).
    \22\ Amex will also post on its Web site any corrections made by
NYMEX to the Applicable Reference Price of Crude Oil that was
reported by NYMEX for any price determination day.
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    On each price determination day, the per-Share values of the Up
MacroShares and Down MacroShares, based on the Applicable Reference
Price of Crude Oil established and reported by NYMEX, will be
calculated and posted on the administrative agent's Web site (http://
www.macromarkets.com). All investors and market participants will have
access to the administrative agent's Web site at no charge.
    The Exchange states that delayed information on futures contracts
often is publicly available from futures exchanges. Daily settlement
prices for the oil futures contract designated as the Applicable
Reference Price of Crude Oil for the Shares is publicly available on
NYMEX's Web site.
    The Commission believes that the proposal to list and trade the
Shares is reasonably designed to promote fair

disclosure of information that may be necessary to price the Shares
appropriately and to prevent trading when a reasonable degree of
transparency cannot be assured. The Commission notes that the Exchange
will obtain a representation on behalf of the Trusts that the per-Share
net asset values for the Trusts will be calculated daily and made
available to all market participants at the same time. Additionally,
the Exchange will halt trading in the Shares if the value of each Trust
or the per-share values of each of the Up Trading Shares or the Down
Trading Shares are not disseminated daily to all market participants at
the same time. The Commission also notes that, pursuant to proposed
Amex Rule 1402, the Exchange will remove from listing the Up
MacroShares or the Down MacroShares under certain circumstances,
including if: (1) The intraday level of the Applicable Reference Price
of Crude Oil is no longer calculated or available on at least a 15-
second delayed basis during the time the Shares trade on Amex from a
source unaffiliated with the sponsor, custodian, depositor, Up Trading
Trust, Down Trading Trust or the Exchange that is a major market data
vendor; or (2) the IIV of the Share is no longer made available on at
least a 15-second delayed basis by a major market data vendor during
the time the shares trade on the Exchange.
    The Exchange has represented that the Shares are equity securities
subject to the Exchange's rules governing the trading of equity
securities. In support of this proposal, the Exchange has made the
following representations:
    (1) The Exchange's surveillance procedures are adequate to properly
monitor Exchange trading of the Shares and to deter and detect
violations of Exchange rules and applicable federal securities laws.
    (2) Prior to the commencement of trading, the Exchange will inform
its members and Member Organizations an Information Circular of the
special characteristics and risks associated with trading the Shares.
Specifically, the Information Circular will discuss the following: (1)
What the Shares are; (2) the procedures for purchases and paired
optional redemptions of Shares; (3) prospectus delivery requirements
that are applicable in connection with the purchase of newly issued
Shares by investors; (4) applicable Amex rules; (5) dissemination of
information regarding the underlying value of each Trust and the share
of that underlying value allocable to one Up MacroShare and one Down
MacroShare; (6) trading information; (7) suitability obligations of
members with respect to recommended transactions to customers in the
Shares; (8) that the Shares are subject to various fees and expenses
described in the Registration Statement on Form S-1 for the Up
MacroShares or the Down MacroShares, as applicable; \23\ and (9) any
exemptive, no-action, and interpretive relief granted by the Commission
from any rules under the Act.
---------------------------------------------------------------------------

    \23\ See supra note 15.
---------------------------------------------------------------------------

    This approval order is based on the Exchange's representations.
    For the foregoing reasons, the Commission finds that the proposed
rule change is consistent with the Act and the rules and regulations
thereunder applicable to a national securities exchange, and, in
particular, with Section 6(b)(5) of the Act.\24\
---------------------------------------------------------------------------

    \24\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

C. Acceleration

    The Commission finds good cause for approving the proposed rule
change before the 30th day after the date of publication of notice of
filing thereof in the Federal Register. The Commission notes that the
Shares are substantially similar to another product previously approved
for listing and trading on the Exchange.\25\
---------------------------------------------------------------------------

    \25\ See supra note 20.
---------------------------------------------------------------------------

    Therefore, the Commission finds good cause, consistent with Section
19(b)(2) of the Act, to approve the proposed rule change on an
accelerated basis.

IV. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\26\ that the proposed rule change (SR-Amex-2008-36) be, and it
hereby is, approved on an accelerated basis.
---------------------------------------------------------------------------

    \26\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\27\
---------------------------------------------------------------------------

    \27\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-15206 Filed 7-3-08; 8:45 am]

BILLING CODE 8010-01-P


Comment Info: =================

General Comment:Dear Mr. Zeller:

I am writing as an individual consumer to request an extension of the comment period for the Food and Drug Administration's ("FDA") Proposed Rule Deeming Tobacco Products to be Subject to the Federal Food, Drug, and Cosmetic Act, as amended by the Family Smoking and Prevention and Tobacco Control Act (the "Proposed Rule") published at 79 Fed. Reg. 23,142 and Federal Register No. 2014-09491. On behalf of myself, I am requesting that the comment period for the Proposed Rule be extended by the FDA for an additional 105 days, from its current 75-day period, to 180 days.

The Proposed Rule raises a number of significant issues and questions that are important and relevant to me, as a consumer of products that are proposed for regulation under the Proposed Rule. The Proposed Rule asks about a hundred different questions I might want to respond to. I want to provide my thoughts and comments on many of these issues, but my time to devote to researching and providing thoughtful comments on these important questions is limited. I have already spent many hours researching and dissecting these issues, but they take time. I know that the FDA took many years to even come up with the Proposed Rule, so I do not think it is at all unreasonable to allow the public a mere six months to comment on it. This is our only opportunity, as consumers, to provide our feedback.

I feel very strongly about e-cigarettes as an alternative to combustible cigarettes. Quite simply, I firmly believe that they saved extended and have improved the quality of my life. I have been a smoker for 30 years. I have tried other cessation products with no success. The use of e cigarettes and flavored juices (Not tobacco flavored) have kept me off a 2 pack a day habit for 2 months with ne desire to return to combustible tobacco products. The FDA has the authority under 21 CFR 10.40 to extend this time frame and that the FDA has exercised this authority on numerous occasions in the past. I would therefore ask that you do so here, so that all stakeholders have the opportunity to provide their comments on this proposed regulation.

I appreciate your consideration of my request and am happy to discuss this issue with you further.


[Federal Register Volume 79, Number 138 (Friday, July 18, 2014)]
[Notices]
[Pages 42002-42003]
[FR Doc No: 2014-16898]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings

    Take notice that the Commission has received the following Natural
Gas Pipeline Rate and Refund Report filings:

Filings Instituting Proceedings

    Docket Numbers: PR14-40-000.
    Applicants: Atmos Energy--Kentucky/Mid-States Division.
    Description: Tariff filing per 284.123(e)/.224: Termination of
Statement of Operating Conditions to be effective 7/2/2014; TOFC: 800.
    Filed Date: 7/2/14.
    Accession Number: 20140702-5163.
    Comments Due: 5 p.m. ET 7/23/14.

    284.123(g) Protests Due:

    Docket Numbers: PR14-41-000.
    Applicants: Worsham-Steed Gas Storage, LLC.
    Description: Tariff filing per 284.123(e) + (g): Amended Statement
of Operating Conditions to be effective 7/7/14; TOFC: 1280.
    Filed Date: 7/7/14.
    Accession Number: 20140707-5112.
    Comments Due: 5 p.m. ET 7/28/14.
    284.123(g) Protests Due: 5 p.m. ET 9/5/14.

    Docket Numbers: PR14-42-000.
    Applicants: Hill-Lake Gas Storage, LLC.
    Description: Tariff filing per 284.123(e) + (g): Amended Statement
of Operating Conditions to be effective 7/7/2014; TOFC: 1280.
    Filed Date: 7/7/14.
    Accession Number: 20140707-5114.
    Comments Due: 5 p.m. ET 7/28/14.
    284.123(g) Protests Due: 5 p.m. ET 9/5/14.

    Docket Numbers: CP14-519-000.
    Applicants: Honeoye Storage Corporation.
    Description: Abbreviated Application for a Certificate of Public
Convenience and Necessity of Honeoye Storage Corporation.
    Filed Date: 7/7/14.
    Accession Number: 20140707-5186.
    Comments Due: 5 p.m. ET 7/21/14.

    Docket Numbers: RP14-1094-000.
    Applicants: Southern Natural Gas Company, L.L.C.
    Description: Negotiated Rate Filing to be effective 7/1/2014.
    Filed Date: 7/8/14.
    Accession Number: 20140708-5046.
    Comments Due: 5 p.m. ET 7/21/14.

    Docket Numbers: RP14-1095-000.
    Applicants: Midcontinent Express Pipeline LLC.
    Description: Chesapeake Neg Rate to be effective 7/8/2014.
    Filed Date: 7/8/14.
    Accession Number: 20140708-5077.
    Comments Due: 5 p.m. ET 7/21/14.
    The filings are accessible in the Commission's eLibrary system by
clicking on the links or querying the docket number.
    Any person desiring to intervene or protest in any of the above
proceedings must file in accordance with Rules 211 and 214 of the
Commission's Regulations (18 CFR 385.211 and 385.214) on or before 5:00
p.m. Eastern time on the specified date(s). Protests may be considered,
but intervention is necessary to become a party to the proceeding.
    eFiling is encouraged. More detailed information relating to filing
requirements, interventions, protests, service, and qualifying
facilities filings can be found at: http://www.ferc.gov/docs-filing/efiling/filing-req.pdf. For other information, call<PHONE_NUMBER>
(toll free). For TTY, call<PHONE_NUMBER>.

    Dated July 9, 2014.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2014-16898 Filed 7-17-14; 8:45 am]
BILLING CODE 6717-01-P


accounting and internal and outside legal services and support staff.
The total annualized costs for the information collection is $538,356.
This number is reached by multiplying the total hours to prepare
responses (total: 5,916) by an hourly wage estimate of $91 (an average
that incorporates senior accountant ($50), financial analyst ($40),
support staff rates ($25) and legal ($250)) (salary information source:
Bureau of Labor Statistics and market research). These costs will be
spread over 215 utilities, however. On balance, the Commission finds
that the collection costs will not be unduly burdensome.
    Interested persons may obtain information on the reporting
requirements by contacting: Federal Energy Regulatory Commission, 888
First Street, NE., Washington, DC 20426 [Attention: Michael Miller,
Office of the Chief Information Officer, phone:<PHONE_NUMBER>, fax:
(202) 273-0873, e-mail<EMAIL_ADDRESS>Comments concerning
the collection of information and the associated burden estimates,
should be sent to the contact listed above and to the Office of
Management and Budget, Office of Information and Regulatory Affairs,
Washington, DC 20503 [Attention: Desk Officer for the Federal Energy
Regulatory Commission, phone<PHONE_NUMBER>; fax<PHONE_NUMBER>].

VII. Environmental Analysis

    130. The Commission is required to prepare an Environmental
Assessment or an Environmental Impact Statement for any action that may
have a significant adverse effect on the human environment.\84\ No
environmental consideration is needed for the promulgation of a rule
that addresses information gathering, analysis, and dissemination,\85\
or that addresses accounting.\86\ This Final Rule involves information
gathering, analysis, and

dissemination, and accounting. Consequently, neither an Environmental
Impact Statement nor an Environmental Assessment is required.
---------------------------------------------------------------------------

    \84\ See Regulations Implementing the National Environmental
Policy Act of 1969, Order No. 486, FERC Stats. & Regs. ] 30,783
(1987).
    \85\ See 18 CFR 380.4(a)(5).
    \86\ See 18 CFR 380.4(a)(16).
---------------------------------------------------------------------------

VIII. Regulatory Flexibility Act

    131. The Regulatory Flexibility Act of 1980 (RFA) \87\ requires
rulemakings to contain either a description or analysis of the effect
that the rule will have on small entities or a certification that the
rule will not have a significant economic impact on a substantial
number of small entities.\88\ Most utilities regulated by the
Commission do not fall within the RFA's definition of a small
entity.\89\ Thus, most utilities to which the rules adopted herein
apply would not fall within the RFA's definition of small entities. As
noted above, the Commission has also sought to alleviate the burden
imposed on small entities by (a) eliminating a non-jurisdictional
utility reporting requirement; (b) accommodating non-calendar fiscal
year accounting; and (c) increasing the minimum threshold reporting
levels for certain line-item information. In creating the Form 1 and
the Form 1-F, moreover, the Commission established two different
reporting thresholds so that smaller utilities would not be encumbered
with having to provide the information necessary to comply with the
Form 1. Consequently, the Final Rule adopted here will not have a
significant economic effect on a substantial number of small entities.
---------------------------------------------------------------------------

    \87\ 5 U.S.C. 601-12.
    \88\ Id.
    \89\ 5 U.S.C. 601(3).
---------------------------------------------------------------------------

IX. Document Availability

    132. 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) and
in the Commission's Public Reference Room during normal business hours
(8:30 a.m. to 5 p.m. Eastern time) at 888 First Street, NE., Room 2A,
Washington, DC 20426.
    133. From the Commission's home page on the Internet, this
information is available in the Commission's document management
system, eLibrary. The full text of this document is available on
eLibrary in PDF and Microsoft Word format for viewing, printing, and/or
downloading. To access this document in eLibrary, type the docket
number excluding the last three digits of this document in the docket
number field.
    134. User assistance is available for eLibrary and the Commission's
Web site during normal business hours. For assistance, please contact
FERC Online Support at 1-866-208-3676 (toll free) or<PHONE_NUMBER> or e-
mail at<EMAIL_ADDRESS>or the Public Reference Room at
(202) 502-8371, TTY<PHONE_NUMBER>. E-mail at
<EMAIL_ADDRESS>
X. Effective Date and Congressional Notification

    135. These regulations are effective for calendar year 2009, i.e.,
as of January 1, 2009. The first report, the Form 3-Q for the first
quarter of 2009, will be due in May 2009. The Commission has
determined, with the concurrence of the Administrator of the Office of
Information and Regulatory Affairs of OMB, that this rule is not a
``major rule'' as defined in section 351 of the Small Business
Regulatory Enforcement Fairness Act of 1996.

List of Subjects

18 CFR Part 41

    Administrative practice and procedures, Electric utilities,
Reporting and recordkeeping requirements, Uniform System of Accounts.

18 CFR Part 141

    Electric utilities and licensees, Reporting requirements.

    By the Commission.
Nathaniel J. Davis, Sr.,
Deputy Secretary.

0
In consideration of the foregoing, the Commission amends parts 41 and
141 of Title 18 of the Code of Federal Regulations, as set forth below:

PART 41--ACCOUNTS, RECORDS, MEMORANDA AND DISPOSITION OF CONTESTED
AUDIT FINDINGS AND PROPOSED REMEDIES

0
1. The authority citation for part 41 continues to read as follows:

    Authority: 16 U.S.C. 791a-825r, 2601-2645; 42 U.S.C. 7101-7352.

0
2. Section 41.11 is revised to read as follows:

Sec.  41.11  Report of certification.

    Each Major and Nonmajor (including those companies classified as
nonoperating under Part 101, General Instruction 1(A)(3) of this
chapter) public utility or licensee operating on a calendar year and
not classified as Class C or Class D prior to January 1, 1984 must file
with the Commission a letter or report of the independent accountant
certifying approval, together with or within 30 days after the filing
of the Annual Report, Form No. 1, covering the subjects and in the form
prescribed in the General Instructions of the Annual Report. For such
utility or licensee operating on a non-calendar fiscal year, the letter
or report of the independent accountant certifying approval must be
filed within 150 days of the close of the company's fiscal year; the
letter or report must also identify which, if any, of the examined
schedules do not conform to the Commission's requirements and shall
describe the discrepancies that exist. The Commission will not be bound
by a certification of compliance made by an independent accountant
pursuant to this paragraph.

PART 141--STATEMENTS AND REPORTS (SCHEDULES)

0
3. The authority citation for part 141 is revised to read as follows:

    Authority: 15 U.S.C. 79; 15 U.S.C. 717-717z; 16 U.S.C. 791a-
828c, 2601-2645; 31 U.S.C. 9701; 42 U.S.C. 7101-7352.

0
4. In Sec.  141.1, paragraph (b)(1)(i) is revised to read as follows:

Sec.  141.1  FERC Form No. 1, Annual report of Major electric
utilities, licensees and others.

* * * * *
    (b) Filing requirements--(1) Who must file--(i) Generally. Each
Major and each Nonoperating (formerly designated as Major) electric
utility (as defined in part 101 of Subchapter C of this chapter) and
each licensee as defined in section 3 of the Federal Power Act (16
U.S.C. 796), including any agency, authority or other legal entity or
instrumentality engaged in generation, transmission, distribution, or
sale of electric energy, however produced, throughout the United States
and its possessions, having sales or transmission service equal to
Major as defined above, must prepare and file electronically with the
Commission the FERC Form 1 pursuant to the General Instructions as
provided in that form.
* * * * *

0
5. In Sec.  141.400, paragraph (b)(1)(i) is revised to read as follows:

Sec.  141.400  FERC Form No. 3-Q, Quarterly financial report of
electric utilities, licensees, and natural gas companies.

* * * * *
    (b) Filing requirements--(1) Who must file--(i) Generally. Each
electric utility and each Nonoperating (formerly designated as Major or
Nonmajor) electric utility (as defined in part 101 of subchapter C of
this chapter) and other entity, i.e., each corporation, person, or
licensee as defined in section 3 of the Federal Power Act (16 U.S.C.
792 et seq.), including any agency or instrumentality engaged in
generation,

transmission, distribution, or sale of electric energy, however
produced, throughout the United States and its possessions, having
sales or transmission service must prepare and file with the Commission
FERC Form No. 3-Q pursuant to the General Instructions set out in that
form.
* * * * *
BILLING CODE 6717-01-P
[GRAPHIC] [TIFF OMITTED] TR07OC08.000

[GRAPHIC] [TIFF OMITTED] TR07OC08.001

[GRAPHIC] [TIFF OMITTED] TR07OC08.002

[GRAPHIC] [TIFF OMITTED] TR07OC08.003

[GRAPHIC] [TIFF OMITTED] TR07OC08.004

[GRAPHIC] [TIFF OMITTED] TR07OC08.005

[GRAPHIC] [TIFF OMITTED] TR07OC08.006

[GRAPHIC] [TIFF OMITTED] TR07OC08.007

[GRAPHIC] [TIFF OMITTED] TR07OC08.008

[GRAPHIC] [TIFF OMITTED] TR07OC08.009

[GRAPHIC] [TIFF OMITTED] TR07OC08.010

[GRAPHIC] [TIFF OMITTED] TR07OC08.011

[GRAPHIC] [TIFF OMITTED] TR07OC08.012

[GRAPHIC] [TIFF OMITTED] TR07OC08.013

[GRAPHIC] [TIFF OMITTED] TR07OC08.014

[GRAPHIC] [TIFF OMITTED] TR07OC08.015

[GRAPHIC] [TIFF OMITTED] TR07OC08.016

[GRAPHIC] [TIFF OMITTED] TR07OC08.017

[GRAPHIC] [TIFF OMITTED] TR07OC08.018

[GRAPHIC] [TIFF OMITTED] TR07OC08.019

[GRAPHIC] [TIFF OMITTED] TR07OC08.020

[GRAPHIC] [TIFF OMITTED] TR07OC08.021

[GRAPHIC] [TIFF OMITTED] TR07OC08.022

[GRAPHIC] [TIFF OMITTED] TR07OC08.023

[GRAPHIC] [TIFF OMITTED] TR07OC08.024

[GRAPHIC] [TIFF OMITTED] TR07OC08.025

[GRAPHIC] [TIFF OMITTED] TR07OC08.026

[GRAPHIC] [TIFF OMITTED] TR07OC08.027

[GRAPHIC] [TIFF OMITTED] TR07OC08.028

[GRAPHIC] [TIFF OMITTED] TR07OC08.029

[GRAPHIC] [TIFF OMITTED] TR07OC08.030

[GRAPHIC] [TIFF OMITTED] TR07OC08.031

[GRAPHIC] [TIFF OMITTED] TR07OC08.032

 [FR Doc. E8-23458 Filed 10-6-08; 8:45 am]

BILLING CODE 6717-01-C


[Federal Register: February 15, 2007 (Volume 72, Number 31)]
[Notices]
[Page 7486-7487]
[DOCID:fr15fe07-116]

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

SECURITIES AND EXCHANGE COMMISSION

Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the
Government in the Sunshine Act, Public Law 94-409, that the Securities
and Exchange Commission will hold the following meeting during the week
of February 20, 2007:
    A closed meeting will be held on Thursday, February 22, 2007 at 2
p.m.
    Commissioners, Counsels to the Commissioners, the Secretary to the
Commission, and recording secretaries will attend the closed meeting.
Certain staff members who have an interest in the matters may also be
present.
    The General Counsel of the Commission, or his designee, has
certified that, in his opinion, one or more of the exemptions set forth
in 5 U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) and 17 CFR
200.402(a)(3), (5), (7), 9(ii) and (10) permit consideration of the
scheduled matters at the closed meeting.
    Commissioner Campos, as duty officer, voted to consider the items
listed for the closed meeting in a closed session.
    The subject matter of the closed meeting scheduled for Thursday,
February 22, 2007 will be:
    Formal orders of investigation;
    Institution and settlement of injunctive actions;
    Institution and settlement of administrative proceedings of an
enforcement nature;
    Other matters relating to enforcement proceeding; and
    Resolution of a litigation claim.
    At times, changes in Commission priorities require alterations in
the scheduling of meeting items.
    For further information and to ascertain what, if any, matters have
been

added, deleted or postponed, please contact:
    The Office of the Secretary at<PHONE_NUMBER>.

    Dated: February 13, 2007.
Nancy M. Morris,
Secretary.
[FR Doc. 07-726 Filed 2-13-07; 11:05 am]

BILLING CODE 8010-01-P


[Federal Register Volume 80, Number 244 (Monday, December 21, 2015)]
[Notices]
[Pages 79320-79321]
[FR Doc No: 2015-31957]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. Rm98-1-000]

Records Governing Off-the-Record Communications; Public Notice

    This constitutes notice, in accordance with 18 CFR 385.2201(b), of
the receipt of prohibited and exempt off-the-record communications.
    Order No. 607 (64 FR 51222, September 22, 1999) requires Commission
decisional employees, who make or receive a prohibited or exempt off-
the-record communication relevant to the merits of a contested
proceeding, to deliver to the Secretary of the Commission, a copy of
the communication, if written, or a summary of the substance of any
oral communication.
    Prohibited communications are included in a public, non-decisional
file associated with, but not a part of, the decisional record of the
proceeding. Unless the Commission determines that the prohibited
communication and any responses thereto should become a part of the
decisional record, the prohibited off-the-record communication will not
be considered by the Commission in reaching its decision. Parties to a
proceeding may seek the opportunity to respond to any facts or
contentions made in a prohibited off-the-record communication, and may
request that the Commission place the prohibited communication and
responses thereto in the decisional record. The Commission will grant
such a request only when it determines that fairness so requires. Any
person identified below as having made a prohibited off-the-record
communication shall serve the document on all parties listed on the
official service list for the applicable proceeding in accordance with
Rule 2010, 18 CFR 385.2010.
    Exempt off-the-record communications are included in the decisional
record of the proceeding, unless the communication was with a
cooperating agency as described by 40 CFR 1501.6, made under 18 CFR
385.2201(e)(1)(v).
    The following is a list of off-the-record communications recently
received by the Secretary of the Commission. The communications listed
are grouped by docket numbers in ascending order. These filings are
available for electronic review at the Commission in the Public
Reference Room or may be viewed on the Commission's Web site at http://www.ferc.gov using the eLibrary link. Enter the docket number,
excluding the last three digits, in the docket number field to access
the document. For assistance, please contact FERC Online Support at
<EMAIL_ADDRESS>or toll free at<PHONE_NUMBER>, or for TTY,
contact<PHONE_NUMBER>.

------------------------------------------------------------------------
                                                        Presenter or
          Docket No.                File date            requester
------------------------------------------------------------------------
                               Prohibited
------------------------------------------------------------------------
1. CP15-504-000...............         11-24-2015  International Paper.
2. CP15-554-000, CP16-10-000..         11-30-2015  Margie Lucas and
                                                    Whitney Feldmann.
3. CP15-554-000...............         11-30-2015  Ronald Lundie.
4. CP15-554-000...............         11-30-2015  Harold Jackson.
5. CP15-554-000...............         11-30-2015  Elizabeth Marshall.
6. CP14-115-000, CP14-493-000.         11-30-2015  Rayonier Advanced
                                                    Materials.
7. CP16-21-000................          12-1-2015  Susan Jones.
8. CP15-554-000...............          12-1-2015  Grace Wunderlich.
9. CP15-554-000...............          12-1-2015  Eliane Blose.
10. CP15-554-000..............          12-1-2015  Linda Campbell.
11. CP15-554-000..............          12-1-2015  Charles Alexander.
12. CP15-554-000..............          12-1-2015  Arthur Porter.
13. CP15-554-000..............          12-2-2015  Bonnie Spearman.

14. CP14-554-000, CP15-16-000,          12-3-2015  Susan VanBrunt.
 CP15-17-000.
15. CP15-554-000..............          12-3-2015  Kenneth Sisson.
16. CP15-554-000..............          12-7-2015  Thelma Lepley.
17. CP15-554-000..............          12-7-2015  Mildred Buck.
18. CP15-554-000..............          12-7-2015  Donna Moser.
19. CP15-554-000..............          12-7-2015  Ricky Rochelle.
20. CP15-554-000..............         12-10-2015  Kathryn B. Parker.
21. CP15-554-000..............         12-10-2015  Ellyson Robinson.
22. CP15-554-000..............         12-10-2015  Roger Marshall.
23. CP15-554-000..............         12-10-2015  Ronnie Johnson.
24. CP15-554-000..............         12-11-2015  Billy Vaughan.
25. CP15-554-000..............         12-11-2015  Clifton Lowrey.
------------------------------------------------------------------------
                                 Exempt
------------------------------------------------------------------------
1. CP15-554-000, CP16-10-000..         11-30-2015  State of Virginia
                                                    Delegate Manoli
                                                    Loupassi.
2. CP15-554-000...............          12-1-2015  State of Virginia
                                                    Delegate Minority
                                                    Leader Davis J.
                                                    Toscano.
3. CP16-21-000................          12-2-2015  US Congresswoman Ann
                                                    McLane Kuster.
4. CP15-554-000...............          12-2-2015  US Congressman Bob
                                                    Goodlatte.
5. CP16-21-000................          12-4-2015  State of New
                                                    Hampshire Governor
                                                    Margaret Wood
                                                    Hassan.
6. CP16-10-000, CP16-13-000...          12-4-2015  FERC Staff.\1\
7. CP15-504-000...............          12-9-2015  FERC Staff.\2\
8. CP15-554-000, CP16-10-000..          12-9-2015  State of Virginia
                                                    Delegate Betsy B.
                                                    Carr.
9. CP15-554-000, CP16-10-000..         12-10-2015  US House
                                                    Representatives.\3\
------------------------------------------------------------------------
\1\ Meeting Summary from December 1, 2015 call with cooperating agencies
  regarding Mountain Valley Pipeline Project and Equitrans Expansion
  Project.
\2\ Meeting Summary from December 8, 2015 call between FERC, HDR
  Engineering, Inc., and Dominion Carolina Gas, L.L.C. regarding
  Columbia to Eastover Project.
\3\ Bob Goodlatte, H. Morgan Griffith, and Robert Hurt.

    Dated: December 15, 2015.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2015-31957 Filed 12-18-15; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 82, Number 215 (Wednesday, November 8, 2017)]
[Notices]
[Page 51828]
[FR Doc No: 2017-24274]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. CP17-441-001]

Northwest Pipeline LLC; Notice of Amendment to Application for
Certificate of Public Convenience and Necessity

    Take notice that on October 23, 2017, Northwest Pipeline, LLC
(Northwest), 295 Chipeta Way, Salt Lake City, Utah-84108, has filed an
amendment to its application filed on May 11, 2017, pursuant to
sections 7(b) and 7(c) of the Natural Gas Act (NGA) and the Federal
Energy Regulatory Commission's (Commission) regulations, requesting
abandonment approvals, and a certificate of public convenience seeking
authorization to construct and operate its North Seattle Lateral
Upgrade Project (Project) located in Snohomish County, Washington, all
as more fully described in the application which is on file with the
Commission and open to public inspection. The filing may also be viewed
on the web at http://www.ferc.gov using the ``eLibrary'' link. Enter
the docket number excluding the last three digits in the docket number
field to access the document. For assistance, contact FERC at
[email protected] or call toll-free,<PHONE_NUMBER> or TTY,
(202) 502-8659.
    Specifically, the Project consists of: (1) Abandoning by removal
the existing 8-inch-diameter pipeline between mileposts (MP) 1.9 and
7.8 on Northwest's North Seattle Delivery Lateral line and installing
new 20-inch-diameter pipeline from MP 1.9 to 7.8; (2) re-alignment of
existing 16-inch-diameter pipeline to be installed parallel to the
proposed 20-inch-diameter pipeline (3) rebuild the existing North
Seattle/Everett meter station; and (4) installing miscellaneous
appurtenances; all located in Snohomish County, Washington.
    Any questions regarding this application should be directed to Xan
Kotter, Northwest Pipeline LLC, PO Box 58900, Salt Lake City, UT 84158-
0900, or call<PHONE_NUMBER>, or by email: [email protected].
    Pursuant to section 157.9 of the Commission's rules, 18 CFR 157.9,
within 90 days of this Notice the Commission staff will either:
Complete its environmental assessment (EA) and place it into the
Commission's public record (eLibrary) for this proceeding; or issue a
Notice of Schedule for Environmental Review. If a Notice of Schedule
for Environmental Review is issued, it will indicate, among other
milestones, the anticipated date for the Commission staff's issuance of
the final environmental impact statement (FEIS) or EA for this
proposal. The filing of the EA in the Commission's public record for
this proceeding or the issuance of a Notice of Schedule for
Environmental Review will serve to notify federal and state agencies of
the timing for the completion of all necessary reviews, and the
subsequent need to complete all federal authorizations within 90 days
of the date of issuance of the Commission staff's FEIS or EA.
    There are two ways to become involved in the Commission's review of
this project. First, any person wishing to obtain legal status by
becoming a party to the proceedings for this project should, on or
before the comment date stated below file with the Federal Energy
Regulatory Commission, 888 First Street NE., Washington, DC 20426, a
motion to intervene in accordance with the requirements of the
Commission's Rules of Practice and Procedure (18 CFR 385.214 or
385.211) and the Regulations under the NGA (18 CFR 157.10). A person
obtaining party status will be placed on the service list maintained by
the Secretary of the Commission and will receive copies of all
documents filed by the applicant and by all other parties. A party must
submit 7 copies of filings made in the proceeding with the Commission
and must mail a copy to the applicant and to every other party. Only
parties to the proceeding can ask for court review of Commission orders
in the proceeding.
    However, a person does not have to intervene in order to have
comments considered. The second way to participate is by filing with
the Secretary of the Commission, as soon as possible, an original and
two copies of comments in support of or in opposition to this project.
The Commission will consider these comments in determining the
appropriate action to be taken, but the filing of a comment alone will
not serve to make the filer a party to the proceeding. The Commission's
rules require that persons filing comments in opposition to the project
provide copies of their protests only to the party or parties directly
involved in the protest.
    Persons who wish to comment only on the environmental review of
this project should submit an original and two copies of their comments
to the Secretary of the Commission. Environmental commentors will be
placed on the Commission's environmental mailing list, will receive
copies of the environmental documents, and will be notified of meetings
associated with the Commission's environmental review process.
Environmental commentors will not be required to serve copies of filed
documents on all other parties. However, the non-party commentors will
not receive copies of all documents filed by other parties or issued by
the Commission (except for the mailing of environmental documents
issued by the Commission) and will not have the right to seek court
review of the Commission's final order.
    The Commission strongly encourages electronic filings of comments,
protests and interventions in lieu of paper using the eFiling link at
http://www.ferc.gov. Persons unable to file electronically should
submit an original and 5 copies of the protest or intervention to the
Federal Energy regulatory Commission, 888 First Street NE., Washington,
DC 20426.
    Comment Date: November 24, 2017.

    Dated: November 2, 2017.
Kimberly D. Bose,
Secretary.
[FR Doc. 2017-24274 Filed 11-7-17; 8:45 am]
 BILLING CODE 6717-01-P


                       EPA Meeting with Region 6 States
                               February 29, 2012

On the morning of the February 29, EPA staff gave a short presentation on the proposed UST regulation to state staff from region 6 states.  EPA staff emphasized several times prior, during and after the presentation, that if the States wanted to made comments on the regulation they needed to formally submit as outlined in the proposed regulation by any of the methods provided.  There were a number of questions and we answered with what was contained in the proposal and again reiterated that they needed to formally comment to include any of their comments in the public record.

Attendees:

        Region 6 STATE UST INSPECTOR MANAGER & SENIOR STAFF MEETING

                                     Name
                                    Agency

Anton Rozsypal
TCEQ

Audray Lincoln
EPA Region 6

Cari Bing
TCEQ

Christy Cherrett
EPA Region 6

Dana Bahar
NMED

Heather Mann
EPA Region 6

Joe Womack
EPA Region 6

Kalvin Martin
NMED PSTB

Larry Brown
OCC PSTD

Larry Thomas
EPA Region 6

Robin Hughes
EPA OUST

Samuel Broussard
LDEQ

Sherry Fuerst
EPA Region 6

Tameka Lewis
EPA Region 6

Todd Thompson
TCEQ

Tracie Donaldson
EPA Region 6

Willie Kelley
EPA Region 6