[Federal Register Volume 81, Number 53 (Friday, March 18, 2016)]
[Notices]
[Pages 14910-14912]
[FR Doc No: 2016-06092]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-77365; File No. SR-CBOE-2016-018]

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

March 14, 2016.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on March 11, 2016, Chicago Board Options Exchange, Incorporated
(``Exchange'' or ``CBOE'') filed with the Securities and Exchange
Commission (``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 the Fees Schedule. 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 the Fees Schedule.\3\
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    \3\ The Exchange initially filed the proposed fee changes on
February 29, 2016 (SR-CBOE-2016-015). On March 11, 2016, the
Exchange withdrew that filing and submitted this filing.
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    On March 2, 2015 and March 9, 2015, the Exchange commenced Extended
Trading Hours \4\ (``ETH'') for VIX and SPX/SPXW options, respectively.
The Exchange also established fees for the ETH session as well as
adopted a rebate for Lead Market-Markers (``LMMs'').\5\
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    \4\ The Extended Trading Hours session is from 2:00 a.m. to 8:15
a.m. Chicago time, Monday through Friday.
    \5\ Pursuant to subparagraph (e)(iii)(A) of Rule 6.1A (Extended
Trading Hours), the Exchange may approve one or more Market-Makers
to act as LMMs in each class during Extended Trading Hours in
accordance with Rule 8.15A for terms of at least one month. On
September 22, 2014, the Exchange issued Regulatory Circular RG14-
134, which announced that the Exchange had appointed 3 LMMs in SPX
options and 3 LMMs in VIX options during ETH. The LMM appointments
are effective for a one-year period and began on the launch date for
ETH trading of the applicable class. On February 24, 2016, the
Exchange issued Regulatory Circular RG16-038, which announced that
the Exchange made new LMM appointments for a one-year period
beginning after the current one-year period ends.
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    By way of background, ETH LMMs, like any ETH Market-Maker, must
maintain continuous two-sided quotes in 60% of the series with less
than nine months to expiration in their appointed products for at least
90% of the time they are quoting during ETH (to be determined on a
monthly basis) and satisfy all other Market-Maker obligations set forth
in Rule 8.7 during ETH (see CBOE Rule 8.7). Additionally, for SPX and
VIX, if an LMM (1) provides continuous electronic quotes in at least
the lesser of 99% of the non-adjusted series or 100% of the non-
adjusted series minus one call-put pair in an ETH allocated class
(excluding intra-day add-on series on the day during which such series
are added for trading) during ETH in a given month and (2) ensures an
opening of the same percentage of series by 2:05 a.m. for at least 90%
of the trading days during ETH in a given month, the LMM will receive a
rebate for that month and will receive a pro-rata share of a
compensation pool equal to $25,000 times the number of LMMs in that
class. For example, if three LMMs are appointed in SPX, a compensation
pool will be established each month totaling $75,000. If each LMM meets
the heightened continuous quoting standard in SPX during a month, each
will

receive $25,000. If two LMMs meet the heightened continuous quoting
standard in SPX during a month, those two LMMs would each receive
$37,500 and the third LMM would receive nothing. If only one LMM meets
the heightened continuous quoting standard in SPX during a month, that
LMM would receive $75,000 and the other two would receive nothing.
    The Exchange proposes to reduce the rebate that the LMMs would
receive if they meet the heighted quoting standard effective March 2,
2016 for VIX LMMs and March 9, 2016 for SPX LMMs (which dates
correspond to the beginning of the new appointment term for LMMs).
Specifically, the Exchange proposes to provide that if an LMM meets the
heightened quoting standard in a month, the LMM will receive a pro-rata
share of a compensation pool equal to $15,000 times the number of LMMs
in that class.\6\ Accordingly, under the proposed new rebate amount, if
three LMMs are appointed in SPX, a compensation pool will be
established each month totaling $45,000. If each LMM meets the
heightened continuous quoting standard in SPX during a month, each will
receive $15,000. If two LMMs meet the heightened continuous quoting
standard in SPX during a month, those two LMMs would each receive
$22,500 and the third LMM would receive nothing. If only one LMM meets
the heightened continuous quoting standard in SPX during a month, that
LMM would receive $45,000 and the other two would receive nothing. The
Exchange proposes to replace the current example in Footnote 38 with
the example described above. The Exchange notes that although it is
reducing the rebate, it still believes the amount provided will incent
appointed LMMs to increase liquidity during ETH.
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    \6\ The compensation pool equal to $25,000 times the number of
LMMs in a class remained in effect through March 1, 2016 for VIX and
March 8, 2016 for SPX, which dates correspond to the end of the
current appointment term. In other words, the three previous LMMs
were eligible to receive a share of a $75,000 compensation pool,
prorated through the end of their appointment, and the three new
LMMs are eligible to receive a share of a $45,000 compensation pool
(which will be prorated for the month of March 2016).
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    Additionally, the Exchange proposes, if an appointment begins after
the first [sic] day of the month or ends prior to the last [sic] day of
the month, the amount of the rebate will be prorated for that month.\7\
For example, the appointments for the original LMMs in SPX ended on
March 8, 2016, and the new appointments began on March 9, 2016. If the
three previous LMMs each satisfied the heightened continuous quoting
standard through March 8, they will each receive a pro-rata share of a
$75,000 compensation pool, which pool will be prorated based on the
number of trading days through March 8. Similarly, if the three new
LMMs (whose appointments began on March 9) each satisfy the heightened
continuous quoting standard during the period of March 9 through March
31, they will each receive a pro-rata share of a $45,000 compensation
pool, which pool will be prorated based on the remaining trading days
in March.
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    \7\ If an appointment begins after the first trading day of the
month, the compensation pool will be prorated based on the remaining
trading days in the calendar month. If an appointment ends prior to
the last trading day of the month, the compensation pool will be
prorated based on the number of trading days in the calendar month
the appointment was in effect.
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    The proposed rule change also makes nonsubstantive changes to
delete two apostrophes inadvertently included in this fee provision.
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.\8\ Specifically, the
Exchange believes the proposed rule change is consistent with the
Section 6(b)(5) \9\ 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
Section 6(b)(4) of the Act,\10\ which requires that Exchange rules
provide for the equitable allocation of reasonable dues, fees, and
other charges among its Trading Permit Holders and other persons using
its facilities.
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    \8\ 15 U.S.C. 78f(b).
    \9\ 15 U.S.C. 78f(b)(5).
    \10\ 15 U.S.C. 78f(b)(4).
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    The Exchange believes it is reasonable, equitable and not unfairly
discriminatory to offer LMMs that meet a certain heightened quoting
standard (described above) a pro-rata share of a compensation pool
equal to $15,000 times the number of LMMs in that class given the
potential added costs that an LMM may undertake in order to satisfy
that heightened quoting standard. Additionally, the Exchange believes
that the proposed amount is reasonable, because although it is less
than previously offered, appointed LMMs that meet the heightened
quoting standard still receive a rebate for doing so. The Exchange also
notes that if an LMM does not satisfy the heightened quoting standard,
then it will not receive the proposed rebate. The Exchange believes it
is equitable and not unfairly discriminatory to only offer the rebate
to LMMs because it benefits all market participants in ETH to encourage
LMMs to satisfy the heightened quoting standards, which may increase
liquidity during those hours and provide more trading opportunities and
tighter spreads. The Exchange believes it is reasonable for the
previous rebate amount to have remained in place through the end of the
appointment term for the previous LMMs so that the same rebate amount
applied through the entire term for those LMMs. Additionally, the
Exchange believes it is reasonable to prorate the amount of the
compensation pool if an LMM appointment only covered part of a month so
that the amount of any rebate made to LMMs corresponds to the number of
trading days on which it was quoting during that month.

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

    The Exchange does not believe that the proposed rule changes will
impose any burden on competition that are not necessary or appropriate
in furtherance of the purposes of the Act. The Exchange does not
believe that the proposed rule change will impose any burden on
intramarket competition that is not necessary or appropriate in
furtherance of the purposes of the Act because, while the LMM rebate is
offered only to certain market participants (i.e., LMMs that meet a
heightened quoting standard), those market participants must meet
heightened quoting standards and the rebate encourages those market
participants to bring liquidity to the Exchange during ETH (which
benefits all market participants).
    The Exchange does not believe that the proposed rule changes will
impose any burden on intermarket competition that is not necessary or
appropriate in furtherance of the purposes of the Act because SPX/SPXW
and VIX, are proprietary products that will only be traded on CBOE. To
the extent that the proposed changes make CBOE a more attractive
marketplace for market

participants at other exchanges, such market participants are welcome
to become CBOE market participants.

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

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

II. 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 \11\ and paragraph (f) of Rule 19b-4 \12\
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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    \11\ 15 U.S.C. 78s(b)(3)(A).
    \12\ 17 CFR 240.19b-4(f).
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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-2016-018 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-CBOE-2016-018. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549 on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of such filing also will be available
for inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-CBOE-2016-018, and should be
submitted on or before April 8, 2016.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\13\
Robert W. Errett,
Deputy Secretary.
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    \13\ 17 CFR 200.30-3(a)(12).
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[FR Doc. 2016-06092 Filed 3-17-16; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 86, Number 134 (Friday, July 16, 2021)]
[Notices]
[Pages 37779-37782]
[FR Doc No: 2021-15103]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 92373; File No. SR-NYSE-2020-93]

Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing of Partial Amendment No. 2 and Order Granting
Accelerated Approval To Proposed Rule Change, as Modified by Partial
Amendment No. 2, To Amend NYSE Rules 7.35 and 7.35A

July 12, 2021.

I. Introduction

    On November 3, 2020, New York Stock Exchange LLC (``NYSE'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission''), pursuant to Section 19(b)(1) of the Securities
Exchange Act of 1934 (``Exchange Act'') \1\ and Rule 19b-4
thereunder,\2\ a proposed rule change to amend Rule 7.35 regarding
dissemination of Auction Imbalance Information if a security is an IPO
or Direct Listing and has not had its IPO Auction or Direct Listing
Auction, and Rule 7.35A regarding DMM consultations in connection with
an IPO or Direct Listing. The proposed rule change was published for
comment in the Federal Register on November 17, 2020.\3\ On December
18, 2020, the Commission extended to February 15, 2020, the time period
within which to approve the proposed rule change, disapprove the
proposed rule change, or institute proceedings to determine whether to
approve or disapprove the proposed rule change.\4\
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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. 90387 (Nov. 10,
2020), 85 FR 73322 (Nov. 17, 2020) (``Notice'').
    \4\ See Securities Exchange Act Release No. 90723 (Dec. 18,
2020), 85 FR 84446 (Dec. 28, 2020).
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    On February 12, 2021, the Commission instituted proceedings under
Section 19(b)(2)(B) of the Act \5\ to determine whether to approve or
disapprove the proposal.\6\ On April 9, 2021, the Exchange filed
Amendment No. 1 to the proposed rule change. On May 7, 2021, the
Commission extended the time period for approving or disapproving the
proposal for an additional 60 days until July 15, 2021.\7\ On May 11,
2021, the Exchange withdrew Partial Amendment No. 1 and filed Partial
Amendment No. 2 to the proposal for inclusion in the public comment
file.\8\ The Commission has not received comments on the proposed rule
change, as modified by Partial Amendment No. 2.
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    \5\ 15 U.S.C. 78s(b)(2)(B).
    \6\ See Securities Exchange Act Release No. 91121, (Feb. 12,
2021), 86 FR 10386 (Feb. 19, 2021) (``Order Instituting
Proceedings'').
    \7\ See Securities Exchange Act Release No. 91791 (May 7, 2021),
86 FR 26110 (May 12, 2021).
    \8\ In Partial Amendment No. 2, the Exchange proposes to (1)
update NYSE Rule 7.35A(g)(1) in Exhibit 5 of the proposal to
incorporate the term ``Selling Shareholder Direct Floor Listing'' to
reflect the text of NYSE Rule 7.35A(g)(1) as recently amended, and
(2) provide additional background for the proposal in response to
the Commission's request for comment in the Order Instituting
Proceedings. See Letter from Martha Redding, Associate General
Counsel, NYSE LLC to Secretary, Commission (May 11, 2021). Partial
Amendment No. 2 is available at https://www.sec.gov/comments/sr-nyse-2020-93/srnyse202093-8785691-237727.pdf.
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    The Commission is publishing this notice to solicit comment on
Partial Amendment No. 2 to the proposed rule change from interested
persons, and is approving the proposed rule change, as modified by
Partial Amendment No. 2, on an accelerated basis.

II. Description of the Proposal, As Modified by Partial Amendment No. 2
\9\ and Order Instituting Proceedings
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    \9\ See Notice, supra note 3, for a complete description of the
proposal as originally filed.
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A. Description of the Proposal As Modified by Partial Amendment No. 2

    The Exchange proposes to (1) amend NYSE Rule 7.35 to make permanent
that the Exchange would disseminate Auction Imbalance Information if a
security is an IPO or Direct Listing and has not had its IPO Auction or
Direct Listing Auction, and (2) amend NYSE Rule 7.35A regarding DMM
consultations in connection with an IPO Auction or Direct Listing
Auction.\10\
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    \10\ In Partial Amendment No. 2, the Exchange also proposes to
update the text to NYSE Rule 7.35A(g)(1) in the Exhibit 5 to
correctly reflect the text of that rule as recently amended. See
supra note 8 and accompanying text.
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NYSE Rule 7.35--Auction Imbalance Information
    The Exchange proposes to make permanent that the Exchange would
disseminate Auction Imbalance Information if a security is an IPO or
Direct Listing \11\ and has not had its IPO Auction or Direct Listing
Auction.\12\ The Exchange states that disseminating Auction Imbalance
Information in advance of an IPO Auction or Direct Listing Auction
would promote transparency in advance of these Auctions, which would
benefit investors and other market participants.\13\
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    \11\ As used in Exchange Rules, the term ``Direct Listing''
means a security that is listed under Footnote (E) to Section
102.01B of the Listed Company Manual, which can be either a
``Selling Shareholder Direct Floor Listing'' or a ``Primary Direct
Floor Listing.'' See NYSE Rule 1.1(f).
    \12\ See Notice, supra note 3, 85 FR at 73323. Commentaries .01
and .02 to Rule 7.35, currently in effect on a temporary basis
through August 31, 2021, provide for the dissemination of Auction
Imbalance Information if a security is an IPO or Direct Listing and
has not had its IPO Auction or Direct Listing Auction. See
Securities Exchange Act Release No. 91778 (May 5, 2021), 86 FR 25902
(May 11, 2021) (SR-NYSE-2021-29).
    \13\ See Notice, supra note 3, 85 FR at 73323.
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    As part of the proposed change, the Exchange proposes that the
Imbalance Reference Price for determining the Auction Imbalance
Information for either an IPO Auction or a Direct Listing Auction would
be determined in the same manner as currently provided for under the
temporary Commentaries .01 and .02 to NYSE Rule 7.35, respectively.\14\
Specifically, the Imbalance Reference Price for determining the Auction
Imbalance Information for a Core Open Auction under NYSE Rule
7.35A(e)(3) is the Consolidated Last Sale Price, bound by the bid and
offer of any published pre-opening indication.\15\ Because the
definition of Imbalance Reference Price does not currently specify what
the Consolidated Last Sale Price would be for an IPO Auction or Direct
Listing Auction (which does not exist because the security has not been
previously listed on an exchange), the Exchange proposes to amend the
definition of Consolidated Last Sale Price in NYSE Rule 7.35(a)(11)(A)
to provide that: (i) For an IPO that has not had its IPO Auction, the
Consolidated Last Sale Price would mean the security's offering price;
and (ii) for a Direct Listing that has not had its Direct Listing
Auction, the Consolidated Last Sale Price would mean the Indication
Reference Price for such security.\16\
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    \14\ See id.
    \15\ See Notice, supra note 3, 85 FR at 73323.
    \16\ See id.
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NYSE Rule 7.35A--DMM Consultations
    The Exchange proposes to amend NYSE Rule 7.35A(g)(1) to provide
that a DMM may consult with an underwriter or financial advisor for
initial listings or follow-on offerings for the issuer of such
security.\17\ The Exchange represents that the proposed rule text
reflects long-standing practice relating to the type of consultations
that a Designated Market Maker (``DMM'') may have with an underwriter
or financial advisor.\18\ The Exchange further proposes to specify that
any such consultations will be conducted by an underwriter or financial
advisor relaying information to the DMM via either a Floor broker or
Exchange staff.\19\ The Exchange represents that, as with current
practice, the only consultations that would be required in Exchange
rules would be in connection with a Selling Shareholder Direct Floor
Listing that has not had recent sustained history of trading in a
Private Placement Market prior to listing.\20\ The Exchange states that
it believes that this proposed rule would promote transparency and
clarity in Exchange rules by specifying the existing process whereby a
DMM may consult with an underwriter or financial advisor in connection
with a security having its initial listing on the Exchange or for a
follow-on offering.\21\
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    \17\ See Notice, supra note 3, 85 FR at 73324.
    \18\ See id.
    \19\ See id.
    \20\ See id.
    \21\ See id.
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B. Order Instituting Proceedings

    In the Order Instituting Proceedings, the Commission requested
comment on, among other things: (1) Whether the proposed rule should
specify what is a permitted consultation provided for in the proposed
amendments to NYSE Rule 7.35A; (2) whether there any types of
information that the underwriter or financial advisor should be
prohibited from conveying to the DMM in these consultations; (3)
whether a DMM should be permitted to communicate directly with the
underwriter or financial advisor with respect to these consultations,
rather than through a Floor broker or a member of the Exchange's staff;
and (4) whether the Exchange's rules should distinguish between DMM
consultations with underwriters or financial advisors with respect to
follow-on offerings for securities that have a market value reflected
in trading prices as opposed to initial offerings.\22\
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    \22\ See Order Instituting Proceedings, supra note 6, 86 FR at
10387.
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    In response to the questions raised in the Order Instituting
Proceedings, the Exchange states that there is a long-standing practice
on the Trading Floor for DMMs to communicate with underwriters via
Floor brokers in connection with IPO Auctions and Core Open Auctions
for follow-on offerings.\23\ According to the Exchange, this practice
is consistent with Exchange rules, which permit Floor brokers to use
cellular phones at the point of sale, including to relay market look
information off the Trading Floor.\24\ The Exchange states its belief
that this practice also promotes a fair and orderly and transparent
auction process because any information that is relayed from the
underwriter to the DMM or from the DMM to the underwriter is announced
on the Trading Floor, and is thereby available to anyone at the point
of sale.\25\ The Exchange also states that, to the extent the DMM
receives information that would affect the opening price, that
information would be incorporated into the pre-opening indication
published by the DMM, which is disseminated via both proprietary data
feeds and the Consolidated Tape. The Exchange states that when the
Exchange introduced Direct Listing Auctions, DMMs met their obligation
to consult with financial advisors using the same process.\26\
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    \23\ See Partial Amendment No. 2, supra note 8, at 7.
    \24\ See id.
    \25\ See id.
    \26\ See Partial Amendment No. 2, supra note 8, at 7-8.
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    The Exchange states that the proposal would specify in Exchange
rules this long-standing practice with only one proposed difference--
specifically, that the Exchange proposes to provide an underwriter or
financial advisor the choice to use either a Floor broker or

Exchange staff to relay information to and from the DMM.\27\ The
Exchange states that it has been operating in this manner on a
temporary basis during the period when there have been reduced DMM and
Floor broker staff on the Trading Floor to reduce the spread of COVID-
19.\28\ The Exchange states its belief that if an underwriter or
financial advisor chooses to use Exchange staff to relay information,
it would still be an open and transparent process, because any
information that Exchange staff request of a DMM would be relayed to
anyone at the point of sale, and any information that an underwriter or
financial advisor provides to Exchange staff would be relayed to the
DMM at the point of sale, again, available to anyone else standing in
the crowd.\29\
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    \27\ See Partial Amendment No. 2, supra note 8, at 8.
    \28\ See id.
    \29\ See id.
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    The Exchange states its belief that it is not necessary for
Exchange rules to impose any restrictions on the type of information
that is relayed from an underwriter or financial advisor to the DMM and
vice versa because, in the Exchange's view, the manner of such
communications makes them available to all Floor brokers that choose to
be at the point of sale, and if the communications impact pricing, that
information would be incorporated into the pre-opening indication
published by the DMM and disseminated via both proprietary data feeds
and the Consolidated Tape.\30\ The Exchange also states its belief
that, because any such communications are available to any Floor
brokers at the point of sale, and could be shared with customers of
those Floor brokers, Exchange rules do not need to limit the
information an underwriter or financial advisor may ask to be relayed
to the DMM by a Floor broker or Exchange staff.\31\ The Exchange
further states that having a Floor-based intermediary between an
underwriter or financial advisor and the DMM ensures an open and
transparent process on the Trading Floor, and that, therefore, in the
Exchange's view, Exchange rules do not need to be modified at this time
to permit direct communications between the DMM and underwriter or
financial advisor.\32\ Finally, the Exchange states that, for similar
reasons, the Exchange does not believe that the permissible method of
communication needs to be distinguished among an IPO Auction, Direct
Listing Auction, or Core Open Auction in connection with a follow-on
offering.\33\
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    \30\ See id.
    \31\ See id.
    \32\ See id.
    \33\ See id.
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III. Discussion and Commission Findings

    After careful review, the Commission is approving the proposed rule
change, as modified by Amendment No. 2, for the reasons discussed
below.\34\ The Commission finds that the proposed rule change, as
modified, is consistent with the requirements of the Act and the rules
and regulations thereunder applicable to a national securities
exchange, including Section 6(b)(5) of the Exchange Act,\35\ 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 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 are not designed to permit unfair discrimination
between customers, issuers, brokers, or dealers.
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    \34\ In approving this proposed rule change, the Commission has
considered the proposed rule change's impact on efficiency,
competition, and capital formation. See 15 U.S.C. 78c(f).
    \35\ 15 U.S.C. 78f(b)(5).
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    The proposed change to make permanent that the Exchange would
disseminate Auction Imbalance Information if a security is an IPO or
Direct Listing and has not had its IPO Auction or Direct Listing
Auction is reasonably designed to promote fair and orderly IPO Auctions
and Direct Listing Auctions, because including this information in the
Auction Imbalance Information on the same terms that it is disseminated
for other Core Open Auctions would promote transparency in advance of
an IPO Auction or Direct Listing Auction. The Exchange initially
excluded IPOs and Direct Listings from Order Imbalance Information
because Exchange systems at the time did not have access to interest
represented in the crowd by Floor brokers.\36\ Since the Exchange
transitioned to its Pillar trading platform in August 2019, all Floor
broker interest intended for a Core Open Auction, IPO Auction, or
Direct Listing Auction must be entered electronically,\37\ and Exchange
systems will include such orders in the Auction Imbalance
Information.\38\ Because Floor broker interest is now entered
electronically and can be included in Auction Imbalance Information for
all Core Open Auctions, the original rationale for excluding such
information has become moot.
---------------------------------------------------------------------------

    \36\ See Securities Exchange Act Release Nos. 74837 (April 29,
2015), 80 FR 25741 (May 5, 2015) (SR-NYSE-2015-19) (Notice of filing
and immediate effectiveness of proposed rule change); and 82627
(Feb. 2, 2018), 83 FR 5650 (Feb. 8, 2018) (SR-NYSE-2017-30)
(Approval Order).
    \37\ See Securities Exchange Act Release No. 85962 (May 29,
2019), 84 FR 26188, 26208 at n.73 (June 5, 2019) (SR-NYSE-2019-05)
(Approval Order). As part of the transition to Pillar, the Exchange
replaced the term ``Order Imbalance Information'' with ``Auction
Imbalance Information.''
    \38\ See Notice, supra note 3, 85 FR at 73323.
---------------------------------------------------------------------------

    The Commission also finds that the proposal to make permanent the
ability of an underwriter or financial advisor to convey information to
the DMM in connection with initial listings and follow-on offerings via
either a Floor broker or Exchange staff is consistent with the Act.
Whether an underwriter or financial advisor relays information to the
DMM via Exchange staff or a Floor broker, the process would remain open
and transparent because all such communications would occur on the
Exchange floor in the presence of all persons present in the trading
crowd and because, if those communications impact the anticipated
pricing of the auction, that information would be incorporated into the
pre-opening indication published by the DMM and disseminated via both
proprietary data feeds and the Consolidated Tape, which provides
additional transparency.\39\ The Commission, however, reminds market
participants that the federal securities laws, including Regulation M
and other antifraud and anti-manipulation provisions, will continue to
apply and that the proposed amendments to NYSE Rule 7.35A(g)(1) do not
modify or provide any relief from--or create an exception to--these
provisions of the federal securities laws and regulations, including
Regulation M.\40\ Further, reliance on NYSE Rule 7.35A(g)(1) or any
amendments thereto would not create a safe harbor with respect to
violations of Regulation M.
---------------------------------------------------------------------------

    \39\ See id.
    \40\ See, e.g., Securities Exchange Act Release No. 90758 (Dec.
22, 2020), 85 FR 85807, 85813 (Dec. 29, 2020) (SR-NYSE-2019-67)
(stating, in approving the Exchange's proposed modification to its
direct listing rules, that the Exchange had added language to its
rule proposal ``reminding financial advisers to an issuer and the
DMM that any consultations with the financial advisor must be
conducted in a manner consistent with the federal securities laws,
including Regulation M and other anti-manipulation requirements,''
and further stating that the Exchange had represented that it had
retained FINRA to monitor such compliance and that it planned to
issue regulatory guidance in this area).
---------------------------------------------------------------------------

    The proposed change to NYSE Rule 7.35A(g)(1) is reasonably designed
to protect investors and the public interest and provide greater
clarity and transparency in Exchange rules by

codifying the current practice for DMM consultations with the
underwriter or financial advisor of an issuer of a security in
connection with initial listings and follow-on offerings. The Exchange
represents that this proposed rule change would not result in any
changes to how a DMM would determine the Auction Price for Core Open
Auctions under NYSE Rule 7.35A(g).\41\
---------------------------------------------------------------------------

    \41\ See Notice, supra note 3, 85 FR at 73325.
---------------------------------------------------------------------------

    For the reasons discussed above, the Commission finds that the
proposed rule change, as modified by Amendment No. 2, is consistent
with the requirements of the Act and in particular Section 6(b)(5)
because it is reasonably 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, and to
remove impediments to and perfect the mechanism of a free and open
market and a national market system, and is not designed to permit
unfair discrimination between customers, issuers, brokers, or dealers.

IV. Solicitation of Comments on Partial Amendment No. 2 to the Proposed
Rule Change

    Interested persons are invited to submit written data, views and
arguments concerning the foregoing, including whether Partial Amendment
No. 2 to 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-NYSE-2020-93 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-NYSE-2020-93. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549, on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of the filing also will be available for inspection
and copying at the principal office of the Exchange and on the
Exchange's website https://www.nyse.com/regulation/rule-filings?market=NYSE. All comments received will be posted without
change. Persons submitting comments are cautioned that we do not redact
or edit personal identifying information from comment submissions. You
should submit only information that you wish to make available
publicly. All submissions should refer to File Number SR-NYSE-2020-93
and should be submitted on or before August 6, 2021.

V. Accelerated Approval of the Proposed Rule Change, as Modified as
Partial Amendment No. 2

    The Commission finds good cause, pursuant to Section 19(b)(2) of
the Act,\42\ to approve the proposed rule change, as modified by
Partial Amendment No. 2, prior to the 30th day after the date of
publication of Partial Amendment No. 2 in the Federal Register. As
noted above, Partial Amendment No. 2 does not amend the substance of
the proposal as initially filed but instead corrects reference in the
rule text in the Exhibit 5 and provides additional background on the
proposal. Because Partial Amendment No. 2 does not materially alter the
substance of the proposed rule change or raise unique or novel
regulatory issues, the Commission finds that accelerated approval of
Partial Amendment No. 2 is consistent with the Act.
---------------------------------------------------------------------------

    \42\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    For the reasons discussed above, the Commission finds that Partial
Amendment No. 2 is reasonably designed to protect investors and the
public interest, and consistent with the requirements of the Act.
Accordingly, the Commission finds good cause, pursuant to Section
19(b)(2) of the Act,\43\ to approve the proposed rule change, as
modified by Partial Amendment No. 2, on an accelerated basis.
---------------------------------------------------------------------------

    \43\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

VI. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the
Exchange Act,\44\ that the proposed rule change (SR-NYSE-2020-93), as
modified by Partial Amendment No. 2, be, and it hereby is, approved on
an accelerated basis.
---------------------------------------------------------------------------

    \44\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\45\
---------------------------------------------------------------------------

    \45\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-15103 Filed 7-15-21; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 77, Number 186 (Tuesday, September 25, 2012)]
[Notices]
[Page 59035]
[FR Doc No: 2012-23556]

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

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

Notice of Intent To Rule on Request To Release Airport Property
at the St. George Airport, St. George, UT

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice of request to release airport property.

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

SUMMARY: The FAA proposes to rule and invite public comment on the
release of land at St. George Airport under the provisions of Section
125 of the Wendell H. Ford Aviation Investment Reform Act for the 21st
Century (AIR 21), now 49 U.S.C. 47107(h)(2).

DATES: Comments must be received on or before October 25, 2012.

ADDRESSES: Comments on this application may be mailed or delivered to
the FAA at the following address: Mr. John P. Bauer, Manager, Federal
Aviation Administration, Northwest Mountain Region, Airports Division,
Denver Airports District Office, 26805 E. 68th Avenue, Suite 224,
Denver, Colorado 80249-6361.
    In addition, one copy of any comments submitted to the FAA must be
mailed or delivered to Mr. Gary Esplin, City Manager, City of St.
George, Utah, at the following address: Mr. Gary Esplin, City Manager,
City of St. George, 175 East 200 North, St. George, Utah 84770.

FOR FURTHER INFORMATION CONTACT: Mr. Marc Miller, Colorado Engineer/
Compliance Specialist, Federal Aviation Administration, Northwest
Mountain Region, Denver Airports District Office, 26805 E. 68th Avenue,
Suite 224, Denver, Colorado 80249-6361.
    The request to release property may be reviewed, by appointment, in
person at this same location.

SUPPLEMENTARY INFORMATION: The FAA invites public comment on the
request to release property at the St. George Airport under the
provisions of the AIR 21 (49 U.S.C. 47107(h)(2)).
    The FAA Modernization and Reform Act of 2012, HR 658, Section 817,
gave the Secretary of Transportation the authorization to grant an
airport, city, or county release from any of the terms, conditions,
reservations, or restrictions contained in a deed under which the
United States conveyed to the airport, city, or county an interest in
real property for airport purposes pursuant to Section 16 of the
Federal Airport Act (60 Stat. 179) or Section 23 of the Airport and
Airway Development Act of 1970 (84 Stat. 232).
    On September 14, 2012, the FAA determined that the request to
release property at the St. George Airport submitted by the City of St.
George meets the procedural requirements of the Federal Aviation
Administration. The FAA may approve the request, in whole or in part,
no later than October 25, 2012.
    The following is a brief overview of the request:
    The City of St. George is proposing the release from the terms,
conditions, reservations, and restrictions on a 40 acre parcel of
property by an instrument of disposal dated June 28, 1951. The property
was conveyed to St. George under Section 16 of the Surplus Property Act
of 1944 to be used in developing, improving, operating, or maintaining
and operating a public airport. Physical constraints of the airport
site required the construction and opening of the Replacement Airport
in 2011 approximately 15 miles to the east. The former St. George
Airport was decommissioned on January 15, 2011. The former airport is
no longer needed for aviation purposes and the release is to allow for
the sale of the property so the proceeds from the sale can be used
towards payment of the City's share of the costs associated with the
Replacement Airport. A portion of the property will be sold to the
State of Utah for construction of an institution of higher education.
The remainder of the property, will be sold as the market improves,
with the proceeds being used to reimburse St. George for costs
associated with the Replacement Airport.
    Any person may inspect, by appointment, the request in person at
the FAA office listed above under FOR FURTHER INFORMATION CONTACT.
    In addition, any person may, upon appointment and request, inspect
the application, notice and other documents germane to the application
in person at the St George Airport.

    Issued in Denver, Colorado, on September 14, 2012.
John P. Bauer,
Manager, Denver Airports District Office.
[FR Doc. 2012-23556 Filed 9-24-12; 8:45 am]
BILLING CODE P


[Federal Register: March 25, 2009 (Volume 74, Number 56)]
[Rules and Regulations]
[Page 12634-12637]
[DOCID:fr25mr09-25]

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

DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

44 CFR Part 64

[Docket ID FEMA-2008-0020; Internal Agency Docket No. FEMA-8061]

Suspension of Community Eligibility

AGENCY: Federal Emergency Management Agency, DHS.

ACTION: Final rule.

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

SUMMARY: This rule identifies communities, where the sale of flood
insurance has been authorized under the National Flood Insurance
Program (NFIP), that are scheduled for suspension from the NFIP on the
effective dates listed within this rule because of noncompliance with
the floodplain management requirements of the program. If the Federal
Emergency Management Agency (FEMA) receives documentation that the
community has adopted the required floodplain management measures prior
to the effective suspension date given in this rule, the suspension
will not occur and a notice of this will be provided by publication in
the Federal Register on a subsequent date.

DATES: Effective Dates: The effective date of each community's
scheduled suspension is the third date (``Susp.'') listed in the third
column of the following tables.

FOR FURTHER INFORMATION CONTACT: If you want to determine whether a
particular community was suspended on the suspension date or for
further information, contact David Stearrett, Mitigation Directorate,
Federal Emergency Management Agency, 500 C Street, SW., Washington, DC
20472,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: The NFIP enables property owners to purchase
flood insurance which is generally not otherwise available. In return,
communities agree to adopt and administer local floodplain management
aimed at protecting lives and new construction from future flooding.
Section 1315 of the National Flood Insurance Act of 1968, as amended,
42 U.S.C. 4022, prohibits flood insurance coverage as authorized under
the NFIP, 42 U.S.C. 4001 et seq. unless an appropriate public body
adopts adequate floodplain management measures with effective
enforcement measures. The communities listed in this document no longer
meet that statutory requirement for compliance with program
regulations, 44 CFR part 59. Accordingly, FEMA is suspending these
communities from the NFIP on the effective date identified in the third
column of the chart below. As of that date, flood insurance will no
longer be available in the community. However, some of these
communities may adopt and submit the required documentation of legally
enforceable floodplain management measures after this rule is
published, but prior to the actual suspension date. These communities
will not be suspended and will continue their eligibility for the sale
of insurance. FEMA will publish in the Federal Register a notice
withdrawing the suspension of those communities that submit the
required documention before the applicable suspension date(s).
    In addition, FEMA has identified the Special Flood Hazard Areas
(SFHAs) in these communities by publishing a Flood Insurance Rate Map
(FIRM). The date of the FIRM, if one has been published, is indicated
in the fourth column of the table. No direct Federal financial
assistance (except assistance pursuant to the Robert T. Stafford
Disaster Relief and Emergency Assistance Act not in connection with a
flood) may legally be provided for construction or acquisition of
buildings in identified SFHAs for communities not participating in the
NFIP and identified for more than a year on FEMA's initial flood
insurance map of the community as having flood-prone areas (section
202(a) of the Flood Disaster Protection Act of 1973, 42 U.S.C. 4106(a),
as amended). This prohibition against certain types of Federal
assistance becomes effective for the communities listed on the date
shown in the last column.
    The Administrator finds that notice and public comment under 5
U.S.C. 553(b) are impracticable and unnecessary because communities
listed in this final rule have been adequately notified. Each community
receives 6-month, 90-day, and 30-day notification letters addressed to
the Chief Executive Officer stating that the community will be
suspended unless the required floodplain management measures are met
prior to the effective suspension date. Since these notifications were
made, this final rule may take effect within less than 30 days.
    National Environmental Policy Act. This rule is categorically
excluded from the requirements of 44 CFR part 10, Environmental
Considerations. No environmental impact assessment has been prepared.
    Regulatory Flexibility Act. The Administrator has determined that
this rule is exempt from the requirements of the Regulatory Flexibility
Act because the National Flood Insurance Act of 1968, as amended, 42
U.S.C. 4022, prohibits flood insurance coverage unless an appropriate
public body adopts adequate floodplain management measures with
effective enforcement measures. The communities listed no longer comply
with the statutory requirements, and after the effective date, flood
insurance will no longer be available in the communities unless
remedial action takes place.
    Regulatory Classification. This final rule is not a significant
regulatory action under the criteria of section 3(f) of Executive Order
12866 of September 30, 1993, Regulatory Planning and Review, 58 FR
51735.
    Executive Order 13132, Federalism. This rule involves no policies
that have federalism implications under Executive Order 13132.

    Executive Order 12988, Civil Justice Reform. This rule meets the
applicable standards of Executive Order 12988.
    Paperwork Reduction Act. This rule does not involve any collection
of information for purposes of the Paperwork Reduction Act, 44 U.S.C.
3501 et seq.

List of Subjects in 44 CFR Part 64

    Flood insurance, Floodplains.

0
Accordingly, 44 CFR part 64 is amended as follows:

PART 64--[AMENDED]

0
1. The authority citation for part 64 continues to read as follows:

    Authority: 42 U.S.C. 4001 et seq.; Reorganization Plan No. 3 of
1978, 3 CFR, 1978 Comp.; p. 329; E.O. 12127, 44 FR 19367, 3 CFR,
1979 Comp.; p. 376.

Sec.  64.6  [Amended]

0
2. The tables published under the authority of Sec.  64.6 are amended
as follows:

----------------------------------------------------------------------------------------------------------------
                                                Effective date
                                                authorization/
                                  Community     cancellation of    Current effective map   Date certain Federal
      State and location             No.         sale of flood             date            assistance no longer
                                                 insurance in                               available in SFHAs
                                                   community
----------------------------------------------------------------------------------------------------------------
           Region IV
Alabama:
    Monroe County,                    010325  December 21, 1978,  Feb. 04, 2009.........  Mar. 25, 2009.
     Unincorporated Areas.                     Emerg; June 4,
                                               1990, Reg; March
                                               25, 2009, Susp.
    Monroeville, City of,             010173   July 2, 1975,      ......*do.............   Do.
     Monroe County.                            Emerg; March 18,
                                               1985, Reg; March
                                               25, 2009, Susp.
Florida:
    Chattahoochee, City of,           120092  June 21, 1974,      ......do..............   Do.
     Gadsden County.                           Emerg; September
                                               4, 1987, Reg;
                                               March 25, 2009,
                                               Susp.
     Columbia County,                 120070  December 16, 1975,  ......do..............   Do.
     Unincorporated Areas.                     Emerg; January 6,
                                               1988, Reg; March
                                               25, 2009, Susp.
    Gadsden County,                   120091  July 10, 1975,      ......do..............   Do.
     Unincorporated Areas.                     Emerg; May 2,
                                               1991, Reg; March
                                               25, 2009, Susp.
     Havana, Town of, Gadsden         120411   June 12, 1979,     ......do..............   Do.
     County.                                   Emerg; June 17,
                                               1986, Reg; March
                                               25, 2009, Susp.
     Lake Butler, City of,            120595  March 24, 1978,     ......do..............   Do.
     Union County.                             Emerg; July 3,
                                               1986, Reg; March
                                               25, 2009, Susp.
    Lake City, City of,               120406  October 2, 1975,    ......do..............   Do.
     Columbia County.                          Emerg; January 6,
                                               1988, Reg; March
                                               25, 2009, Susp.
    Quincy, City of, Gadsden          120093  July 11, 1975,      ......do..............   Do.
     County.                                   Emerg; February
                                               1, 1987, Reg;
                                               March 25, 2009,
                                               Susp.
     Union County,                    120422  August 22, 1979,    ......do..............   Do.
     Unincorporated Areas.                     Emerg; August 4,
                                               1988, Reg; March
                                               25, 2009, Susp.
     Worthington Springs, City        120594  May 29, 1980,       ......do..............   Do.
     of, Union County.                         Emerg; June 3,
                                               1986, Reg; March
                                               25, 2009, Susp.
North Carolina:
     Aulander, City of, Bertie        370018  June 27, 2000,      ......do..............   Do.
     County.                                   Emerg; -- Reg;
                                               March 25, 2009,
                                               Susp.
     Avery County,                    370010  February 12, 1976,  ......do..............   Do.
     Unincorporated Areas.                     Emerg; September
                                               28, 1990, Reg;
                                               March 25, 2009,
                                               Susp.
     Bakersville, Town of,            370162  October 16, 1979,   ......do..............   Do.
     Mitchell County.                          Emerg; May 1,
                                               1987, Reg; March
                                               25, 2009, Susp.
    Bertie County,                    370290  December 4, 1985,   ......do..............   Do.
     Unincorporated Areas.                     Emerg; December
                                               4, 1985, Reg;
                                               March 25, 2009,
                                               Susp.
    Chowan County,                    370301  August 25, 1977,    ......do..............   Do.
     Unincorporated Areas.                     Emerg; July 3,
                                               1985, Reg; March
                                               25, 2009, Susp.
    Conway, Town of,                  370174  June 10, 1975,      ......do..............   Do.
     Northampton County.                       Emerg; August 1,
                                               1987, Reg; March
                                               25, 2009, Susp.
     Gaston, Town of,                 370413  January 9, 1980,    ......do..............   Do.
     Northampton County.                       Emerg; -- Reg;
                                               March 25, 2009,
                                               Susp.
    Jackson, Town of,                 370175  March 29, 1976,     ......do..............   Do.
     Northampton County.                       Emerg; July 2,
                                               1987, Reg; March
                                               25, 2009, Susp.
    Lasker, Town of,                  370580  February 10, 2006,  ......do..............   Do.
     Northampton County.                       Emerg; -- Reg;
                                               March 25, 2009,
                                               Susp.
    McDowell County,                  370148  January 23, 1974,   ......do..............   Do.
     Unincorporated Areas.                     Emerg; July 15,
                                               1988, Reg; March
                                               25, 2009, Susp.
    Mitchell County,                  370161  July 18, 1979,      ......do..............   Do.
     Unincorporated Areas.                     Emerg; September
                                               4, 1986, Reg;
                                               March 25, 2009,
                                               Susp.
    Northampton County,               370173  July 24, 1975,      ......do..............   Do.
     Unincorporated Areas.                     Emerg; November
                                               4, 1988, Reg;
                                               March 25, 2009,
                                               Susp.
    Roxobel, Town of, Bertie          370605  November 26, 2002,  ......do..............   Do.
     County.                                   Emerg; -- Reg;
                                               March 25, 2009,
                                               Susp.
    Severn, Town of,                  370422  February 13, 1984,  ......do..............   Do.
     Northampton County.                       Emerg; February
                                               1, 1987, Reg;
                                               March 25, 2009,
                                               Susp.
    Spruce Pine, Town of,             370163  July 7, 1975,       ......do..............   Do.
     Mitchell County.                          Emerg; September
                                               2, 1988, Reg;
                                               March 25, 2009,
                                               Susp.
    Windsor, Town of, Bertie          370019  March 14, 1974,     ......do..............   Do.
     County.                                   Emerg; July 18,
                                               1977, Reg; March
                                               25, 2009, Susp.

    Woodland, Town of,                370177  March 27, 1979,     ......do..............   Do.
     Northampton County.                       Emerg; March 1,
                                               1987, Reg; March
                                               25, 2009, Susp.
 South Carolina: James Island,        450263  June 30, 1970,      ......do..............
 Town of, Charleston County                    Emerg; April 23,
                                               1971, Reg; March
                                               25, 2009, Susp.
Tennessee:
     Jasper, Town of, Marion          475429  July 30, 1971,      ......do..............   Do.
     County.                                   Emerg; February
                                               26, 1972, Reg;
                                               March 25, 2009,
                                               Susp.
     Kimball, Town of, Marion         470116   July 1, 1975,      ......do..............   Do.
     County.                                   Emerg; May 19,
                                               1987, Reg; March
                                               25, 2009, Susp.
    Marion County,                    470114  October 23, 1973,   ......do..............   Do.
     Unincorporated Areas.                     Emerg; May 15,
                                               1980, Reg; March
                                               25, 2009, Susp.
    New Hope, City of, Marion         470377  October 5, 1981,    ......do..............   Do.
     County.                                   Emerg; September
                                               27, 1985, Reg;
                                               March 25, 2009,
                                               Susp.
    South Pittsburg, City of,         475447  July 9, 1971,       ......do..............   Do.
     Marion County.                            Emerg; April 14,
                                               1972, Reg; March
                                               25, 2009, Susp.
           Region V
Illinois:
     Joliet, City of, Kendall         170702  April 13, 1973,     ......do..............   Do.
     County.                                   Emerg; February
                                               4, 1981, Reg;
                                               March 25, 2009,
                                               Susp.
     Kendall County,                  170341  July 5, 1973,       ......do..............   Do.
     Unincorporated Areas.                     Emerg; July 19,
                                               1982, Reg; March
                                               25, 2009, Susp.
    Lisbon, Village of,               170342  June 11, 1982,      ......do..............   Do.
     Kendall County.                           Emerg; June 11,
                                               1982, Reg; March
                                               25, 2009, Susp.
    Millbrook, Village of,            171193  -- Emerg; -- Reg;   ......do..............   Do.
     Kendall County.                           March 25, 2009,
                                               Susp.
    Millington, Village of,           170343   May 28, 1975,      ......do..............   Do.
     Kendall County.                           Emerg; June 1,
                                               1982, Reg; March
                                               25, 2009, Susp.
    Minooka, Village of,              171019  -- Emerg; March     ......do..............   Do.
     Kendall County.                           12, 1992, Reg;
                                               March 25, 2009,
                                               Susp.
     Newark, Village of,              170344  April 28, 1975,     ......do..............   Do.
     Kendall County.                           Emerg; June 1,
                                               1982, Reg; March
                                               25, 2009, Susp.
     Oswego, Village of,              170345  April 16, 1975,     ......do..............   Do.
     Kendall County.                           Emerg; June 1,
                                               1982, Reg; March
                                               25, 2009, Susp.
    Plainfield, Village of,           170771  May 21, 1975,       ......do..............   Do.
     Kendall County.                           Emerg; November
                                               17, 1982, Reg;
                                               March 25, 2009,
                                               Susp.
    Plano, City of, Kendall           170346  March 7, 1975,      ......do..............   Do.
     County.                                   Emerg; September
                                               30, 1976, Reg;
                                               March 25, 2009,
                                               Susp.
Wisconsin:
     Appleton, City of,               555542   April 23, 1971,    ......do..............   Do.
     Calumet County.                           Emerg; April 6,
                                               1973, Reg; March
                                               25, 2009, Susp.
    Brillion, City of, Calumet        550036  April 22, 1975,     ......do..............   Do.
     County.                                   Emerg; June 15,
                                               1981, Reg; March
                                               25, 2009, Susp.
    Calumet County,                   550035   November 26,       ......do..............   Do.
     Unincorporated Areas.                     1976, Emerg; May
                                               3, 1982, Reg;
                                               March 25, 2009,
                                               Susp.
    Chilton, City of, Calumet         550037  June 11, 1975,      ......do..............   Do.
     County.                                   Emerg; March 16,
                                               1981, Reg; March
                                               25, 2009, Susp.
    Kiel, City of, Calumet            550239  July 10, 1975,      ......do..............   Do.
     County.                                   Emerg; January 3,
                                               1985, Reg; March
                                               25, 2009, Susp.
    Menasha, City of, Calumet         550510   April 25, 1973,    ......do..............   Do.
     County.                                   Emerg; April 3,
                                               1978, Reg; March
                                               25, 2009, Susp.
    New Holstein, City of,            550039  October 16, 1974,   ......do..............   Do.
     Calumet County.                           Emerg; July 2,
                                               1981, Reg; March
                                               25, 2009, Susp.
    Potter, Village of,               550609  -- Emerg; July 30,  ......do..............   Do.
     Calumet County.                           1996, Reg; March
                                               25, 2009, Susp.
    Stockbridge, Village of,          550040  August 25, 1975,    ......do..............   Do.
     Calumet County.                           Emerg; May 3,
                                               1982, Reg; March
                                               25, 2009, Susp.
          Region VII
Nebraska:
    McCook, City of, Red              310181  February 6, 1978,   ......do..............   Do.
     Willow County.                            Emerg; May 2,
                                               1983, Reg; March
                                               25, 2009, Susp.
     Red Willow County,               310469  June 18, 1984,      ......do..............   Do.
     Unincorporated Areas.                     Emerg; May 1,
                                               1988, Reg; March
                                               25, 2009, Susp.
----------------------------------------------------------------------------------------------------------------
* do = Ditto.
Code for reading third column: Emerg. --Emergency; Reg. --Regular; Susp. --Suspension.

    Dated: January 15, 2009.
Michael K. Buckley,
Acting Assistant Administrator, Mitigation Directorate, Department of
Homeland Security, Federal Emergency Management Agency.
[FR Doc. E9-6587 Filed 3-24-09; 8:45 am]

BILLING CODE 9110-12-P


[Federal Register: July 17, 2006 (Volume 71, Number 136)]
[Notices]
[Page 40510-40512]
[DOCID:fr17jy06-64]

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ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-OEI-2006-0515; FRL-8198-1]

Agency Information Collection Activities; Proposed Collection;
Comment Request; Confidentiality Rules (Renewal); EPA ICR No. 1665.07,
OMB Control No. 2020-0003

AGENCY: Environmental Protection Agency.

ACTION: Notice.

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

SUMMARY: In compliance with the Paperwork Reduction Act (PRA) (44
U.S.C. 3501 et seq.), this document announces that EPA is planning to
submit the following continuing Information Collection Request (ICR) to
the Office of Management and Budget (OMB). This ICR is scheduled to
expire on November 30, 2006. Before submitting the ICR to OMB for
review and approval, EPA is soliciting comments on specific aspects of
the proposed information collection as described below.

DATES: Comments must be submitted on or before September 15, 2006.

ADDRESSES: Submit your comments, identified by Docket ID No. EPA-HQ-
OEI-2006-0515, by one of the following methods:
     http://www.regulations.gov: Follow the on-line instructions for

submitting comments.
     Email<EMAIL_ADDRESS>     Fax:<PHONE_NUMBER>.
     Mail: Office of Environmental Information Docket (OEI),
Environmental Protection Agency, Mailcode: 2822T, 1200 Pennsylvania
Ave., NW., Washington, DC 20460.
     Hand Delivery: 1301 Constitution Ave., NW., Washington, DC
20460, Room B102. Such deliveries are only accepted during the Docket's
normal hours of operation, and special arrangements should be made for
deliveries of boxed information.
    Instructions: Direct your comments to Docket ID No. EPA-HQ-OEI-
2006-0515. EPA's policy is that all comments received will be included
in the public docket without change and may be made available online at
http://www.regulations.gov, including any personal information provided,

unless the comment includes information claimed to be Confidential
Business

Information (CBI) or other information whose disclosure is restricted
by statute. Do not submit information that you consider to be CBI or
otherwise protected through http://www.regulations.gov or e-mail. The

http://www.regulations.gov Web site is an ``anonymous access'' system, which

means EPA will not know your identity or contact information unless you
provide it in the body of your comment. If you send an e-mail comment
directly to EPA without going through http://www.regulations.gov your e-mail

address will be automatically captured and included as part of the
comment that is placed in the public docket and made available on the
Internet. If you submit an electronic comment, EPA recommends that you
include your name and other contact information in the body of your
comment and with any disk or CD-ROM you submit. If EPA cannot read your
comment due to technical difficulties and cannot contact you for
clarification, EPA may not be able to consider your comment. Electronic
files should avoid the use of special characters, any form of
encryption, and be free of any defects or viruses. For additional
information about EPA's public docket visit the EPA Docket Center
homepage at http://www.epa.gov/epahome/dockets.htm.

FOR FURTHER INFORMATION CONTACT: Larry F. Gottesman, National FOIA
Officer, Collection Strategies Division, Office of Information
Collection, 2822T, Environmental Protection Agency, 1200 Pennsylvania
Ave., NW., Washington, DC 20460; telephone number:<PHONE_NUMBER>; fax
number:<PHONE_NUMBER>; e-mail address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

How Can I Access the Docket and/or Submit Comments?

    EPA has established a public docket for this ICR under Docket ID
No. EPA-HQ-OEI-2006-0515, which is available for online viewing at
http://www.regulations.gov, or in person viewing at the OEI Docket in the EPA

Docket Center (EPA/DC), EPA West, Room B102, 1301 Constitution Ave.,
NW., Washington, DC. The EPA/DC Public Reading Room is open from 8 a.m.
to 4:30 p.m., Monday through Friday, excluding legal holidays. The
telephone number for the Reading Room is<PHONE_NUMBER>, and the
telephone number for the OEI Docket is<PHONE_NUMBER>.
    Use http://www.regulations.gov to obtain a copy of the draft collection of

information, submit or view public comments, access the index listing
of the contents of the docket, and to access those documents in the
public docket that are available electronically. Once in the system,
select ``search,'' then key in the docket ID number identified in this
document.

What Information Is EPA Particularly Interested in?

    Pursuant to section 3506(c)(2)(A) of the PRA, EPA specifically
solicits comments and information to enable it to:
    (i) Evaluate whether the proposed collection of information is
necessary for the proper performance of the functions of the Agency,
including whether the information will have practical utility;
    (ii) evaluate the accuracy of the Agency's estimate of the burden
of the proposed collection of information, including the validity of
the methodology and assumptions used;
    (iii) enhance the quality, utility, and clarity of the information
to be collected; and
    (iv) minimize the burden of the collection of information on those
who are to respond, including through the use of appropriate automated
electronic, mechanical, or other technological collection techniques or
other forms of information technology, e.g., permitting electronic
submission of responses. In particular, EPA is requesting comments from
very small businesses (those that employ less than 25) on examples of
specific additional efforts that EPA could make to reduce the paperwork
burden for very small businesses affected by this collection.

What Should I Consider When I Prepare My Comments for EPA?

    You may find the following suggestions helpful for preparing your
comments:
    1. Explain your views as clearly as possible and provide specific
examples.
    2. Describe any assumptions that you used.
    3. Provide copies of any technical information and/or data you used
that support your views.
    4. If you estimate potential burden or costs, explain how you
arrived at the estimate that you provide.
    5. Offer alternative ways to improve the collection activity.
    6. Make sure to submit your comments by the deadline identified
under DATES.
    7. To ensure proper receipt by EPA, be sure to identify the docket
ID number assigned to this action in the subject line on the first page
of your response. You may also provide the name, date, and Federal
Register citation.

What Information Collection Activity or ICR Does This Apply to?

    Affected entities: Entities potentially affected by this action are
businesses or other for-profit entities.
    Title: Confidentiality Rules (Renewal).
    ICR numbers: EPA ICR No. 1665.07, OMB Control No. 2020-0003.
    ICR status: This ICR is currently scheduled to expire on November
30, 2006. An Agency may not conduct or sponsor, and a person is not
required to respond to, a collection of information, unless it displays
a currently valid OMB control number. The OMB control numbers for EPA's
regulations in title 40 of the CFR, after appearing in the Federal
Register when approved, are listed in 40 CFR part 9, are displayed
either by publication in the Federal Register or by other appropriate
means, such as on the related collection instrument or form, if
applicable. The display of OMB control numbers in certain EPA
regulations is consolidated in 40 CFR part 9.
    Abstract: In the course of administering environmental protection
statutes, EPA collects data from thousands of facilities in many
sectors of the U.S. economy. In many cases, industry marks the data it
submits to EPA as CBI. In addition, businesses submit information to
EPA without the Agency requesting the information. EPA established the
procedures described in 40 CFR part 2, subparts A and B, to protect the
confidentiality of information as well as the rights of the public to
obtain access to information under the Freedom of Information Act
(FOIA). In accordance with these regulations, when EPA finds it
necessary to make a final confidentiality determination (e.g., in
response to a FOIA request or in the course of rulemaking or
litigation), or in advance confidentiality determination, it shall
notify the effected business and provides an opportunity to comment
(i.e., to submit a substantiation of confidentiality claim). This ICR
relates to the collection of information that will assist EPA in
determining whether previously submitted information is entitled to
confidential treatment.
    Current Burden Statement: The annual public reporting and
recordkeeping burden for this collection of information is estimated to
average 14 hours to prepare and submit each substantiation or 6,302
hours. Burden means the total time, effort, or financial resources
expended by persons to generate, maintain, retain, or disclose or
provide information to or for a Federal agency. This includes the time
needed to review instructions; develop, acquire,

install, and utilize technology and systems for the purposes of
collecting, validating, and verifying information, processing and
maintaining information, and disclosing and providing information;
adjusting the existing ways to comply with any previously applicable
instructions and requirements which have subsequently changed; training
personnel to be able to respond to a collection of information;
searching data sources; completing and reviewing the collection of
information; and transmitting or otherwise disclosing the information.
    In addition, EPA utilizes the services of contractors/
subcontractors under the authority of 40 CFR part 2, subpart B, all
contractors/subcontractors who may be given access to confidential
business information must first sign confidentiality agreements state
that they will honor the terms of the contract/subcontract which
requires the protection of CBI. The annual total burden for signing and
maintaining the agreements would be 130.3 hours.
    The ICR provides a detailed explanation of the Agency's estimate,
which is only briefly summarized here:
    Estimated total number of potential respondents: 1,330.
    Frequency of response: On occasion.
    Estimated total average number of responses for each respondent: 1.
    Estimated total annual burden hours: 6,432.3 hours.
    Estimated total annual costs: $212,185.24. This includes an
estimated burden cost of $0 for capital investment or maintenance and
operational costs.

Are There Changes in the Estimates From the Last Approval?

    No.

What Is the Next Step in the Process for This ICR?

    EPA will consider the comments received and amend the ICR as
appropriate. The final ICR package will then be submitted to OMB for
review and approval pursuant to 5 CFR 1320.12. At that time, EPA will
issue another Federal Register notice pursuant to 5 CFR
1320.5(a)(1)(iv) to announce the submission of the ICR to OMB and the
opportunity to submit comments to OMB. If you have any questions about
this ICR or the approval process, please contact the technical person
listed under FOR FURTHER INFORMATION CONTACT.

    Dated: July 8, 2006.
Oscar Morales,
Division Director, Collection Strategies Division, Office of
Information Collection.
 [FR Doc. E6-11255 Filed 7-14-06; 8:45 am]

BILLING CODE 6560-50-P