[Federal Register Volume 79, Number 146 (Wednesday, July 30, 2014)]
[Notices]
[Pages 44236-44241]
[FR Doc No: 2014-17879]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-72665; File No. SR-NYSEArca-2014-59]

Self-Regulatory Organizations; NYSE Arca, Inc.; Order Approving a
Proposed Rule Change, as Modified by Amendment No. 1, Relating to the
Listing and Trading of Shares of the AdvisorShares Athena High Dividend
ETF Under NYSE Arca Equities Rule 8.600

July 24, 2014.

I. Introduction

    On May 20, 2014, NYSE Arca, Inc. (``Exchange'' or ``NYSE Arca'')
filed with the Securities and Exchange Commission (``Commission''),
pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'' or ``Exchange Act'') \1\ and Rule 19b-4 thereunder,\2\ a
proposed rule change to list and trade shares (``Shares'') of the
AdvisorShares Athena High Dividend ETF (``Fund'') under NYSE Arca
Equities Rule 8.600. The proposed rule change was published for comment
in the Federal Register on June 9, 2014.\3\ On July 23, 2014, the
Exchange filed Amendment No. 1 to the proposed rule change.\4\ The
Commission received no comments on the proposal. This order approves
the proposed rule change, as modified by Amendment No. 1.
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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. 72298 (June 3,
2014), 79 FR 33024 (``Notice'').
    \4\ In Amendment No. 1, the Exchange clarifies that the Fund's
investments in reverse repurchase agreements will not be used to
enhance leverage. Amendment No. 1 provides clarification to the
proposed rule change, and because it does not materially affect the
substance of the proposed rule change, or raise any unique or novel
regulatory issues, Amendment No. 1 does not require notice and
comment.
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II. Description of the Proposal

    The Exchange proposes to list and trade Shares of the Fund under
NYSE Arca Equities Rule 8.600 (``Managed Fund Shares''), which governs
the listing and trading of Managed Fund Shares on the Exchange. The
Shares will be offered by AdvisorShares Trust (``Trust''), a statutory
trust organized under the laws of the State of Delaware and registered
with the Commission as an open-end management investment company.\5\
AdvisorShares Investments, LLC (``Adviser'') will be the investment
adviser to the Fund, and AthenaInvest Advisors LLC (``Sub-Adviser'')
will be the Fund's sub-adviser and will provide day-to-day portfolio
management of the Fund.\6\ The Bank of New York Mellon
(``Administrator'') will serve as the administrator, custodian,
transfer agent and accounting agent for the Fund.

Foreside Fund Services, LLC will be the principal underwriter and
distributor of the Fund's Shares.
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    \5\ The Trust is registered under the Investment Company Act of
1940 (``1940 Act''). The Exchange states that on February 18, 2014,
the Trust filed with the Commission an amendment to its registration
statement on Form N-1A under the Securities Act of 1933 (15 U.S.C.
77a) (``Securities Act'') and under the 1940 Act relating to the
Fund (File Nos. 333-157876 and 811-22110) (``Registration
Statement''). In addition, according to the Exchange, the Commission
has issued an order granting certain exemptive relief to the Trust
under the 1940 Act. See Investment Company Act Release No. 29291
(May 28, 2010) (File No. 812-13677).
    \6\ The Exchange represents that neither the Adviser nor the
Sub-Adviser is registered as a broker-dealer or is affiliated with a
broker-dealer. The Exchange states that in the event (a) the Adviser
or the Sub-Adviser becomes a registered broker-dealer or becomes
newly affiliated with a broker-dealer or (b) any new adviser or sub-
adviser is a registered broker-dealer or becomes affiliated with a
broker-dealer, such adviser or sub-adviser will implement a fire
wall with respect to its relevant personnel or its broker-dealer
affiliate regarding access to information concerning the composition
of or changes to the portfolio, and the adviser or sub-adviser will
be subject to procedures designed to prevent the use and
dissemination of material non-public information regarding the
portfolio.
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    The Exchange has made the following representations and statements
in describing the Fund and its investment strategy, including other
portfolio holdings and investment restrictions.\7\
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    \7\ The Commission notes that additional information regarding
the Fund, the Trust, and the Shares, including investment
strategies, risks, creation and redemption procedures, fees,
portfolio holdings disclosure policies, distributions, and taxes,
among other things, can be found in the Notice and the Registration
Statement, as applicable. See Notice, supra note 3, and Registration
Statement, supra note 5, respectively.
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A. Principal Investments (Under Normal Market Conditions) \8\
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    \8\ The Exchange states that the term ``under normal market
conditions'' means, without limitation, the absence of extreme
volatility or trading halts in the equity markets or the financial
markets generally; operational issues causing dissemination of
inaccurate market information; or force majeure type events such as
systems failure, natural or man-made disaster, act of God, armed
conflict, act of terrorism, riot or labor disruption, or any similar
intervening circumstance.
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    According to the Exchange, the Fund will seek long-term capital
appreciation. The Fund will invest substantially all of the Fund's
assets in (1) U.S. and foreign common stock of issuers of any
capitalization range, and (2) American Depositary Receipts (``ADRs''),
Global Depositary Receipts (``GDRs''), European Depositary Receipts
(``EDRs'') and International Depository Receipts (``IDRs'', and
together with ADRs, GDRs, and EDRs, ``Depositary Receipts'') that
provide investment exposure to global equity markets.\9\ Other than
unsponsored ADRs, all U.S. and foreign common stocks and Depositary
Receipts in which the Fund will invest will be exchange-traded.
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    \9\ ADRs are U.S. dollar denominated receipts typically issued
by U.S. banks and trust companies that evidence ownership of
underlying securities issued by a foreign issuer. The underlying
securities may not necessarily be denominated in the same currency
as the securities into which they may be converted. The underlying
securities are held in trust by a custodian bank or similar
financial institution in the issuer's home country. The depositary
bank may not have physical custody of the underlying securities at
all times and may charge fees for various services, including
forwarding dividends and interest and corporate actions. Generally,
ADRs in registered form are equity securities designed for use in
domestic securities markets and are traded on exchanges or over-the-
counter in the U.S. GDRs, EDRs, and IDRs are similar to ADRs in that
they are certificates evidencing ownership of shares of a foreign
issuer; however, GDRs, EDRs, and IDRs may be issued in bearer form
and denominated in other currencies and are generally designed for
use in specific or multiple securities markets outside the U.S.
EDRs, for example, are designed for use in European securities
markets while GDRs are designed for use throughout the world. ADRs
may be purchased with and sold for U.S. dollars. ADRs may be
sponsored or unsponsored, but unsponsored ADRs will not exceed 10%
of the Fund's net assets. Not more than 10% of the net assets of the
Fund in the aggregate shall consist of equity securities whose
principal market is not a member of the Intermarket Surveillance
Group (``ISG'') or is a market with which the Exchange does not have
a comprehensive surveillance sharing agreement.
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    The Exchange states that the Sub-Adviser will manage the Fund's
portfolio based on its patented Behavioral Portfolio Management
methodology. The Sub-Adviser will start by applying a quantitative
behavioral screen that narrows the equity universe to securities held
in large part by mutual funds the Sub-Adviser believes to be most
consistently pursuing their investment strategy. The Sub-Adviser then
will narrow this universe by a high dividend yield criteria and select
positions for the portfolio based on the highest combined ranking of
the two dimensions.

B. Other Fund Investments

    The Exchange states that, while the Fund under normal market
conditions will invest substantially all of the Fund's assets in
exchange-traded U.S. and foreign common stocks and Depositary Receipts,
the Fund may invest in other securities and financial instruments, as
described below.
    The Exchange represents that the Fund may purchase equity
securities (other than U.S. and foreign common stocks and Depositary
Receipts) traded in the U.S. on registered exchanges, which would
include preferred stock, rights, warrants, convertible securities,\10\
securities of master limited partnerships (``MLPs''),\11\ securities of
real estate investment trusts (``REITs''),\12\ and shares of closed-end
funds.\13\ The Fund may invest in affiliated and unaffiliated exchange-
traded funds (``ETFs'') \14\ and exchange-traded notes (``ETNs'').\15\
The Fund also may invest in the securities of exchange-traded pooled
investment vehicles (together with ETFs and ETNs, ``ETPs'') that are
not investment companies and are not required to comply with the
provisions of the 1940 Act. These pooled vehicles typically hold
commodities, such as gold or oil, currency, or other property that is
itself not a security.\16\
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    \10\ Convertible securities are bonds, debentures, notes,
preferred stocks or other securities that may be converted or
exchanged (by the holder or by the issuer) into shares of the
underlying common stock (or cash or securities of equivalent value)
at a stated exchange ratio.
    \11\ MLPs are limited partnerships in which the ownership units
are publicly traded.
    \12\ REITs are pooled investment vehicles which invest primarily
in real estate or real estate related loans. REITs are generally
classified as equity REITs, mortgage REITs or a combination of
equity and mortgage REITs.
    \13\ A closed-end fund is a pooled investment vehicle that is
registered under the 1940 Act and whose shares are listed and traded
on U.S. national securities exchanges.
    \14\ For purposes of this filing, ETFs include Investment
Company Units (as described in NYSE Arca Equities Rule 5.2(j)(3));
Portfolio Depositary Receipts (as described in NYSE Arca Equities
Rule 8.100); and Managed Fund Shares (as described in NYSE Arca
Equities Rule 8.600). All the ETFs in which the Fund will invest
will be listed and traded on national securities exchanges. The Fund
will invest in the securities of ETFs registered under the 1940 Act
consistent with the requirements of Section 12(d)(1) of the 1940
Act, or any rule, regulation or order of the Commission or
interpretation thereof. The Fund will only make such investments in
conformity with the requirements of Regulation M of the Internal
Revenue Code of 1986, as amended (``Internal Revenue Code''). While
the Fund may invest in inverse ETFs, the Fund will not invest in
leveraged or inverse leveraged (e.g., 2X, -2X, 3X or -3X) ETFs.
    \15\ ETNs include securities listed and traded on the Exchange
under NYSE Arca Equities Rule 5.2(j)(6) (``Index-Linked
Securities''). ETNs are senior, unsecured, unsubordinated debt
securities issued by an underwriting bank that are designed to
provide returns that are linked to a particular benchmark less
investor fees. ETNs have a maturity date and, generally, are backed
only by the creditworthiness of the issuer.
    \16\ Such pooled investment vehicles include Trust Issued
Receipts (as described in NYSE Arca Equities Rule 8.200); Commodity-
Based Trust Shares (as described in NYSE Arca Equities Rule 8.201);
Currency Trust Shares (as described in NYSE Arca Equities Rule
8.202); Commodity Index Trust Shares (as described in NYSE Arca
Equities Rule 8.203); and Trust Units (as described in NYSE Arca
Equities Rule 8.500).
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    The Exchange states that on a day-to-day basis, the Fund may hold
money market instruments, cash, other cash equivalents, and ETPs that
invest in these and other highly liquid instruments. Further, the
Exchange represents that the Fund may invest in the securities of other
investment companies, including mutual funds and business development
companies (``BDCs''),\17\ to the extent that such an investment would
be consistent with the requirements of Section 12(d)(1) of the 1940
Act, or any rule, regulation, or order of the Commission or
interpretation thereof. The Fund will only make such investments in
conformity with the requirements of Subchapter M of the Internal
Revenue Code.
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    \17\ A BDC is a less common type of exchange-traded closed-end
investment company that more closely resembles an operating company
than a typical investment company. BDCs generally focus on investing
in, and providing managerial assistance to, small, developing,
financially-troubled, private companies or other companies that may
have value that can be realized over time and with management
assistance.
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    The Exchange represents that the Fund may invest in variable and
floating rate instruments, which involve certain obligations that may
carry variable or floating rates of interest, and may involve a
conditional or unconditional demand feature.\18\ The Fund may invest

in bank obligations, which would include certificates of deposit,
bankers' acceptances, and fixed time deposits.\19\ The Exchange also
states that the Fund may invest in municipal securities.
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    \18\ The Exchange states that such instruments bear interest at
rates which are not fixed, but which vary with changes in specified
market rates or indices, and that the interest rates on these
securities may be reset daily, weekly, quarterly, or some other
reset period, and may have a set floor or ceiling on interest rate
changes. The Exchange states that a demand instrument with a demand
notice exceeding seven days may be considered illiquid if there is
no secondary market for such security.
    \19\ Certificates of deposit are negotiable certificates issued
against funds deposited in a commercial bank for a definite period
of time and earning a specified return. Bankers' acceptances are
negotiable drafts or bills of exchange, normally drawn by an
importer or exporter to pay for specific merchandise, which are
``accepted'' by a bank, meaning, in effect, that the bank
unconditionally agrees to pay the face value of the instrument on
maturity. Fixed time deposits are bank obligations payable at a
stated maturity date and bearing interest at a fixed rate.
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    The Exchange represents that the Fund may seek to invest in
corporate debt securities,\20\ including debt issued by domestic or
foreign companies of all kinds, and including those with small-, mid-,
and large-capitalizations. The Fund also may invest in corporate debt
securities representative of one or more high-yield bond or credit
derivative indices. The Exchange represents that the Fund may invest in
all grades of corporate debt securities, including below investment
grade (such debt may carry variable or floating rates of interest) and
unrated corporate debt securities.
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    \20\ Corporate debt securities are typically fixed-income
securities issued by businesses to finance their operations. Notes,
bonds, debentures and commercial paper are the most common types of
corporate debt securities. The primary differences between the
different types of corporate debt securities are their maturities
and secured or unsecured status. Commercial paper has the shortest
term and is usually unsecured. Commercial paper is a short-term
obligation with a maturity ranging from one to 270 days issued by
banks, corporations and other borrowers. Such investments are
unsecured and usually discounted. The Fund may invest in commercial
paper rated A-1 or A-2 by Standard and Poor's Ratings Services
(``S&P'') or Prime-1 or Prime-2 by Moody's Investors Service, Inc.
(``Moody's'').
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    The Fund may invest in non-investment-grade debt securities \21\
and unrated debt securities. The Exchange represents that the
creditworthiness of the issuer, as well as any financial institution or
other party responsible for payments on the security, will be analyzed
to determine whether to purchase unrated bonds.
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    \21\ Non-investment-grade securities, also referred to as ``high
yield securities'' or ``junk bonds,'' are debt securities that are
rated lower than the four highest rating categories by a nationally
recognized statistical rating organization (for example, lower than
Baa3 by Moody's or lower than BBB- by S&P) or are determined to be
of comparable quality by the Fund's Sub-Adviser.
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    The Exchange represents that the Fund may invest up to 10% of net
assets in asset-backed and commercial mortgaged-backed securities.\22\
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    \22\ Asset-backed securities are securities backed by
installment contracts, credit-card receivables or other assets.
Commercial mortgage-backed securities are securities backed by
commercial real estate properties. Both asset-backed and commercial
mortgage-backed securities represent interests in ``pools'' of
assets in which payments of both interest and principal on the
securities are made on a regular basis.
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    The Fund may also invest in inflation-indexed bonds.\23\ The Fund
may invest in U.S. government securities, including U.S. Treasury
securities. The Fund may invest in separately traded principal and
interest components of securities guaranteed or issued by the U.S.
government or its agencies, instrumentalities, or sponsored enterprises
if such components trade independently under the Separate Trading of
Registered Interest and Principal of Securities program (``STRIPS'') or
any similar program sponsored by the U.S. government.\24\ The Fund may
invest in U.S. Treasury zero-coupon bonds.\25\
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    \23\ Inflation-indexed bonds are fixed income securities whose
principal value is periodically adjusted according to the rate of
inflation.
    \24\ The Exchange states that STRIPS may be sold as zero coupon
securities.
    \25\ The Exchange states that these securities are U.S. Treasury
bonds which have been stripped of their unmatured interest coupons,
the coupons themselves, and receipts or certificates representing
interests in such stripped debt obligations and coupons, and that
interest is not paid in cash during the term of these securities,
but is accrued and paid at maturity.
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    The Fund may enter into repurchase agreements with financial
institutions, which may be deemed to be loans. The Exchange represents
that the Fund will follow certain procedures designed to minimize the
risks inherent in such agreements, including effecting repurchase
transactions only with large, well-capitalized, and well-established
financial institutions whose condition will be continually monitored by
the Sub-Adviser. In addition, the Exchange represents that the value of
the collateral underlying the repurchase agreements will always be at
least equal to the repurchase price, including any accrued interest
earned on the repurchase agreement. The Exchange states that the Fund
will not invest in repurchase agreements that do not mature within
seven days if any such investment, together with any other illiquid
assets held by the Fund, would amount to more than 15% of the Fund's
net assets. The Fund may also enter into reverse repurchase agreements
as part of the Fund's investment strategy.\26\ The Exchange represents
that the Fund's investments in reverse repurchase agreements will not
be used to enhance leverage.\27\
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    \26\ Reverse repurchase agreements involve sales by the Fund of
portfolio assets concurrently with an agreement by the Fund to
repurchase the same assets at a later date at a fixed price.
    \27\ See supra note 4.
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C. Fund Investment Restrictions

    The Fund will seek to qualify for treatment as a Regulated
Investment Company under the Internal Revenue Code.
    The Fund may hold up to an aggregate amount of 15% of its net
assets in illiquid assets (calculated at the time of investment),
including Rule 144A securities deemed illiquid by the Adviser or Sub-
Adviser,\28\ in accordance with Commission guidance. The Fund will
monitor its portfolio liquidity on an ongoing basis to determine
whether, in light of current circumstances, an adequate level of
liquidity is being maintained, and will consider taking appropriate
steps in order to maintain adequate liquidity if, through a change in
values, net assets, or other circumstances, more than 15% of the Fund's
net assets are held in illiquid assets. Illiquid assets include
securities subject to contractual or other restrictions on resale and
other instruments that lack readily available markets as determined in
accordance with Commission staff guidance.
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    \28\ In reaching liquidity decisions, the Adviser or Sub-Adviser
may consider the following factors: The frequency of trades and
quotes for the security; the number of dealers wishing to purchase
or sell the security and the number of other potential purchasers;
dealer undertakings to make a market in the security; and the nature
of the security and the nature of the marketplace in which it trades
(e.g., the time needed to dispose of the security, the method of
soliciting offers and the mechanics of transfer).
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    The Fund may not, with respect to 75% of its total assets, purchase
securities of any issuer (except securities issued or guaranteed by the
U.S. government, its agencies or instrumentalities or shares of
investment companies) if, as a result, more than 5% of its total assets
would be invested in the securities of such issuer; or acquire more
than 10% of the outstanding voting securities of any one issuer. For
purposes of this policy, the issuer of the underlying security will be
deemed to be the issuer of any respective depositary receipt.
    The Fund may not invest 25% or more of its total assets in the
securities of one or more issuers conducting their principal business
activities in the same industry or group of industries. This limitation
does not apply to investments in securities issued or guaranteed by the
U.S. government, its agencies or instrumentalities, or shares of
investment companies. The Fund will

not invest 25% or more of its total assets in any investment company
that so concentrates.
    The Exchange represents that the Fund will not invest in options,
futures, swaps or other derivatives. It further represents that the
Fund's investments will be consistent with the Fund's investment
objective and will not be used to enhance leverage.

III. Discussion and Commission Findings

    After careful review, the Commission finds that the Exchange's
proposal to list and trade the Shares is consistent with the Exchange
Act and the rules and regulations thereunder applicable to a national
securities exchange.\29\ In particular, the Commission finds that the
proposed rule change, as modified by Amendment No. 1, is consistent
with Section 6(b)(5) of the Exchange Act,\30\ 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. The
Commission notes that the Fund and the Shares must comply with the
requirements of NYSE Arca Equities Rule 8.600 to be listed and traded
on the Exchange.
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    \29\ 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).
    \30\ 15 U.S.C. 78f(b)(5).
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    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
Exchange Act,\31\ 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. Quotation and last sale
information for the Shares will be available via the Consolidated Tape
Association (``CTA'') high-speed line. In addition, the Portfolio
Indicative Value of the Fund,\32\ as defined in NYSE Arca Equities Rule
8.600(c)(3), will be widely disseminated by one or more major market
data vendors at least every 15 seconds during the Core Trading
Session.\33\ On each business day, before commencement of trading in
Shares in the Core Trading Session on the Exchange, the Fund will
disclose on its Web site the Disclosed Portfolio (as defined in NYSE
Arca Equities Rule 8.600(c)(2)) that will form the basis for the Fund's
calculation of NAV at the end of the business day.\34\ In addition, a
basket composition file, which includes the security names and share
quantities (as applicable) required to be delivered in exchange for the
Fund's Shares, together with estimates and actual cash components, will
be publicly disseminated daily prior to the opening of the New York
Stock Exchange, LLC (``NYSE'') via the National Securities Clearing
Corporation. The Administrator will calculate the NAV and NAV per Share
of the Fund once each business day as of the regularly scheduled close
of normal trading on the NYSE (normally, 4:00 p.m., Eastern Time).\35\
Information regarding market price and trading volume of the Shares
will be continually available on a real-time basis throughout the day
on brokers' computer screens and other electronic services. Information
regarding the previous day's closing price and trading volume
information for the Shares will be published daily in the financial
section of newspapers. Quotation and last sale information for the U.S.
exchange-listed equity securities, including common stocks, ETPs,
closed-end funds, exchange-traded pooled investment vehicles,
Depositary Receipts, MLPs, REITs, warrants, rights, preferred stocks,
BDCs and convertible securities will be available via the CTA high-
speed line, and will be available from the national securities exchange
on which they are listed. Information regarding unsponsored ADRs will
be available from major market data vendors. Intra-day and closing
price information relating to the fixed income investments of the Fund
will be available from major market data vendors. Price information
regarding investment company securities will be available from on-line
sources and from the Web site for the applicable investment company
securities. The Fund's Web site will include a form of the prospectus
for the Fund and additional data relating to NAV and other applicable
quantitative information.
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    \31\ 15 U.S.C. 78k-1(a)(1)(C)(iii).
    \32\ According to the Exchange, the Portfolio Indicative Value
is based on current information regarding the value of the
securities and other assets in the Disclosed Portfolio. The
Portfolio Indicative Value should not be viewed as a ``real-time''
update of the NAV per Share of the Fund, which will be calculated
once per day.
    \33\ The Exchange states that several major market data vendors
display or make widely available Portfolio Indicative Values taken
from the CTA or other data feeds.
    \34\ On a daily basis, the Adviser will disclose on behalf of
the Fund on the Fund's Web site each portfolio security and other
financial instrument of the Fund the following information: Ticker
symbol (if applicable); name of security and financial instrument;
number of shares, if applicable; dollar value of securities and
financial instruments held in the portfolio; and percentage
weighting of the security and financial instrument in the portfolio.
The Web site information will be publicly available at no charge.
    \35\ The NAV per Share of the Fund will be computed by dividing
the value of the net assets of the Fund (the value of its total
assets less total liabilities) by the total number of Shares of the
Fund outstanding. Expenses and fees will be accrued daily and taken
into account for purposes of determining NAV per Share. According to
the Exchange, price information for exchange-listed securities,
including common stocks, ETFs, ETNs, closed-end funds, exchange-
traded pooled investment vehicles, Depositary Receipts, MLPs, REITs,
warrants, rights, preferred stocks, BDCs and convertible securities
will be valued at market value, which will generally be determined
using the last reported official closing or last trading price on
the exchange or market on which the security is primarily traded at
the time of valuation or, if no sale has occurred, at the last
quoted bid price on the primary market or exchange on which they are
traded. Other portfolio securities and assets for which market
quotations are not readily available or determined to not represent
the current fair value will be valued based on fair value as
determined in good faith in accordance with procedures adopted by
the Trust's Board of Trustees and in accordance with the 1940 Act.
Unsponsored ADRs will be valued on the basis of the market closing
price on the exchange where the stock of the foreign issuer that
underlies the ADR is listed. Investment company securities, other
than ETFs and BDCs, (including mutual funds), will be valued at NAV.
Domestic and foreign fixed income securities, including U.S.
government securities, repurchase agreements, reverse repurchase
agreement, variable and floating rate securities, bank obligations,
corporate debt securities, zero-coupon bonds, commercial paper,
inflation-indexes bonds, mortgage-backed securities and asset-backed
securities generally trade in the over-the-counter market rather
than on a securities exchange, and the Fund will generally value
these portfolio securities by relying on independent pricing
services. The Fund's pricing services will use valuation models or
matrix pricing to determine current value. In general, pricing
services use information with respect to comparable bond and note
transactions, quotations from bond dealers or by reference to other
securities that are considered comparable in such characteristics as
rating, interest rate, maturity date, option adjusted spread models,
prepayment projections, interest rate spreads and yield curves.
Matrix price is an estimated price or value for a fixed-income
security. Matrix pricing is considered a form of fair value pricing.
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    The Commission further 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 Exchange will obtain a representation from the issuer of
the Shares that the NAV and the Disclosed Portfolio will be made
available to all market participants at the same time. Trading in the
Shares of the Fund will be halted if the circuit breaker parameters in
NYSE Arca Equities Rule 7.12 have been reached. Trading in the Shares
of the Fund may be halted because of other

market conditions or for reasons that, in the view of the Exchange,
make trading in the Shares inadvisable,\36\ and trading in the Shares
will be subject to NYSE Arca Equities Rule 8.600(d)(2)(D), which sets
forth additional circumstances under which trading in Shares of the
Fund may be halted. The Exchange represents that it has a general
policy prohibiting the distribution of material, non-public information
by its employees. Consistent with NYSE Arca Equities Rule
8.600(d)(2)(B)(ii), the Reporting Authority must implement and
maintain, or be subject to, procedures designed to prevent the use and
dissemination of material, non-public information regarding the actual
components of the Fund's portfolio. In addition, the Exchange
represents that neither the Adviser nor the Sub-Adviser is registered
as a broker-dealer or is affiliated with a broker-dealer.\37\ Prior to
the commencement of trading, the Exchange states that it will inform
its Equity Trading Permit Holders in an Information Bulletin of the
special characteristics and risks associated with trading the Shares.
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    \36\ These reasons may include: (1) The extent to which trading
is not occurring in the securities and/or the financial instruments
comprising the Disclosed Portfolio of the Fund; or (2) whether other
unusual conditions or circumstances detrimental to the maintenance
of a fair and orderly market are present. With respect to trading
halts, the Exchange may consider all relevant factors in exercising
its discretion to halt or suspend trading in the Shares of the Fund.
    \37\ See supra note 6. The Exchange states that an investment
adviser to an open-end fund is required to be registered under the
Investment Advisers Act of 1940 (``Advisers Act''). As a result, the
Adviser and Sub-Adviser and their related personnel are subject to
the provisions of Rule 204A-1 under the Advisers Act relating to
codes of ethics. This Rule requires investment advisers to adopt a
code of ethics that reflects the fiduciary nature of the
relationship to clients, as well as compliance with other applicable
securities laws. Accordingly, procedures designed to prevent the
communication and misuse of non-public information by an investment
adviser must be consistent with Rule 204A-1 under the Advisers Act.
In addition, Rule 206(4)-7 under the Advisers Act makes it unlawful
for an investment adviser to provide investment advice to clients
unless such investment adviser has (i) adopted and implemented
written policies and procedures reasonably designed to prevent
violation, by the investment adviser and its supervised persons, of
the Advisers Act and the Commission rules adopted thereunder; (ii)
implemented, at a minimum, an annual review regarding the adequacy
of the policies and procedures established pursuant to subparagraph
(i) above and the effectiveness of their implementation; and (iii)
designated an individual (who is a supervised person) responsible
for administering the policies and procedures adopted under
subparagraph (i) above.
---------------------------------------------------------------------------

    The Exchange represents that trading in the Shares will be subject
to the existing trading surveillances, administered by the Financial
Industry Regulatory Authority (``FINRA'') on behalf of the Exchange,
which are designed to detect violations of Exchange rules and
applicable federal securities laws.\38\ The Exchange further represents
that these procedures are adequate to properly monitor Exchange-trading
of the Shares in all trading sessions and to deter and detect
violations of Exchange rules and federal securities laws applicable to
trading on the Exchange. The Exchange states that the FINRA, on behalf
of the Exchange, will communicate as needed regarding trading in the
Shares and underlying exchange-traded assets, as applicable, with other
markets and other entities that are members of the ISG, and that FINRA,
on behalf of the Exchange, may obtain trading information regarding
trading in the Shares and underlying exchange-traded assets from such
markets and other entities. In addition, the Exchange may obtain
information regarding trading in the Shares and underlying exchange-
traded assets from markets and other entities that are members of ISG
or with which the Exchange has in place a comprehensive surveillance
sharing agreement. The Exchange states that FINRA, on behalf of the
Exchange, is able to access, as needed, trade information for certain
fixed income securities held by the Fund that is reported to FINRA's
Trade Reporting and Compliance Engine.
---------------------------------------------------------------------------

    \38\ The Exchange states that FINRA surveils trading on the
Exchange pursuant to a regulatory services agreement and that the
Exchange is responsible for FINRA's performance under this
regulatory services agreement.
---------------------------------------------------------------------------

    The Exchange represents that the Exchange deems the Shares to be
equity securities, thus subject to the Exchange's existing rules
governing the trading of equity securities. In support of this
proposal, the Exchange has made representations, including:
    (1) The Shares will conform to the initial and continued listing
criteria under NYSE Arca Equities Rule 8.600.
    (2) The Exchange has appropriate rules to facilitate transactions
in the Shares during all trading sessions.
    (3) Trading in the Shares will be subject to the existing trading
surveillances, administered by FINRA on behalf of the Exchange, which
are designed to detect violations of Exchange rules and applicable
federal securities laws, and that these procedures are adequate to
properly monitor Exchange trading of the Shares in all trading sessions
and to deter and detect violations of Exchange rules and federal
securities laws applicable to trading on the Exchange.
    (4) Prior to the commencement of trading, the Exchange will inform
its Equity Trading Permit Holders in an Information Bulletin of the
special characteristics and risks associated with trading the Shares.
Specifically, the Information Bulletin will discuss the following: (a)
The procedures for purchases and redemptions of Shares in creation unit
aggregations (and that Shares are not individually redeemable); (b)
NYSE Arca Equities Rule 9.2(a), which imposes a duty of due diligence
on its Equity Trading Permit Holders to learn the essential facts
relating to every customer prior to trading the Shares; (c) the risks
involved in trading the Shares during the Opening and Late Trading
Sessions when an updated Portfolio Indicative Value will not be
calculated or publicly disseminated; (d) how information regarding the
Portfolio Indicative Value is disseminated; (e) the requirement that
Equity Trading Permit Holders deliver a prospectus to investors
purchasing newly issued Shares prior to or concurrently with the
confirmation of a transaction; and (f) trading information.
    (5) For initial and continued listing, the Fund will be in
compliance with Rule 10A-3 under the Exchange Act,\39\ as provided by
NYSE Arca Equities Rule 5.3.
---------------------------------------------------------------------------

    \39\ 17 CFR 240.10A-3.
---------------------------------------------------------------------------

    (6) The Fund's investments will be consistent with its respective
investment objective and will not be used to enhance leverage. While
the Fund may invest in inverse ETFs, the Fund will not invest in
leveraged or inverse leveraged (e.g., 2X, -2X, 3X or -3X) ETFs.
    (7) The Fund may hold up to an aggregate amount of 15% of its net
assets in illiquid assets (calculated at the time of investment),
including Rule 144A Securities deemed illiquid by the Advisor or Sub-
Advisor, in accordance with Commission guidance.
    (8) Other than unsponsored ADRs, all U.S. and foreign common stocks
and Depositary Receipts in which the Fund will invest will be exchange-
traded. Unsponsored ADRs will not exceed 10% of the Fund's net assets.
    (9) Not more than 10% of the net assets of the Fund in the
aggregate shall consist of equity securities whose principal market is
not a member of the ISG or is a market with which the Exchange does not
have a comprehensive surveillance sharing agreement.
    (10) The Fund may invest up to 10% of net assets in asset-backed
and commercial mortgaged-backed securities.
    (11) The Fund will not invest in options, futures, swaps or other
derivatives.

    (12) A minimum of 100,000 Shares will be outstanding at the
commencement of trading on the Exchange.
    This approval order is based on all of the Exchange's
representations, including those set forth above and in the Notice, and
the Exchange's description of the Fund.
    For the foregoing reasons, the Commission finds that the proposed
rule change, as modified by Amendment No. 1, is consistent with Section
6(b)(5) of the Act \40\ and the rules and regulations thereunder
applicable to a national securities exchange.
---------------------------------------------------------------------------

    \40\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

IV. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the
Exchange Act,\41\ that the proposed rule change (SR-NYSEArca-2014-59),
as modified by Amendment No. 1, be, and it hereby is approved.
---------------------------------------------------------------------------

    \41\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\42\
---------------------------------------------------------------------------

    \42\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-17879 Filed 7-29-14; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 79, Number 204 (Wednesday, October 22, 2014)]
[Notices]
[Pages 63132-63133]
[FR Doc No: 2014-25032]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket Nos. FDA-2012-E-1242; FDA-2012-E-1243]

Determination of Regulatory Review Period for Purposes of Patent
Extension; CARBON DIOXIDE LASER

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice.

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

SUMMARY: The Food and Drug Administration (FDA) has determined the
regulatory review period for CARBON DIOXIDE LASER and is publishing
this notice of that determination as required by law. FDA has made the
determination because of the submission of applications to the Director
of the United States Patent and Trademark Office (USPTO), Department of
Commerce, for the extension of a patent which claims that food
additive.

ADDRESSES: Submit electronic comments to http://www.regulations.gov.
Submit written petitions (two copies are required) and written comments
to the Division of Dockets Management (HFA-305), Food and Drug
Administration, 5630 Fishers Lane, Rm. 1061, Rockville, MD 20852.
Submit petitions electronically to http://www.regulations.gov at Docket
No. FDA-2013-S-0610.

FOR FURTHER INFORMATION CONTACT: Beverly Friedman, Office of
Management, Center for Drug Evaluation and Research, Food and Drug
Administration, 10903 New Hampshire Ave., Bldg. 51, Rm. 6257, Silver
Spring, MD 20993-0002,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: The Drug Price Competition and Patent Term
Restoration Act of 1984 (Pub. L. 98-417) and the Generic Animal Drug
and Patent Term Restoration Act (Pub. L. 100-670) generally provide
that a patent may be extended for a period of up to 5 years so long as
the patented item (human drug product, animal drug product, medical
device, food additive, or color additive) was subject to regulatory
review by FDA before the item was marketed. Under these acts, a
product's regulatory review period forms the basis for determining the
amount of extension an applicant may receive.
    A regulatory review period consists of two periods of time: A
testing phase and an approval phase. For food additives, the testing
phase begins on the date when a major health or environmental effects
test is begun and runs until a petition relying on the test and
requesting the issuance of a regulation for use of the additive under
section 409 of the Federal Food, Drug, and Cosmetic Act (the FD&C Act)
(21 U.S.C. 348) is initially submitted to FDA. The approval phase
begins on the date a petition requesting the issuance of a regulation
for use of the additive under section 409 of the FD&C Act is initially
received. The approval phase continues until the regulation for the
additive becomes effective or until commercial marketing is permitted
(21 CFR 60.22). Although only a portion of a regulatory review period
may count toward the actual amount of extension that the Director of
USPTO may award (for example, half the testing phase must be subtracted
as well as any time that may have occurred before the patent was
issued), FDA's determination of the length of a regulatory review
period for a food additive will include all of the testing phase and
approval phase as specified in 35 U.S.C. 156(g)(1)(B).
    FDA has amended the food additive regulations to provide for the
safe use of CARBON DIOXIDE LASER for etching

information on the surface of fresh, intact citrus fruit for commercial
marketing as specified in 21 CFR 179.43. Subsequent to this approval,
USPTO received patent term restoration applications for CARBON DIOXIDE
LASER (U.S. Patent Nos. 5,660,747 and 5,897,797) from Durant Wayland,
Inc., and the USPTO requested FDA's assistance in determining the
patents' eligibility for patent term restoration. In a letter dated
February 13, 2013, FDA advised the USPTO that this product had
undergone a regulatory review period and that FDA's granting of the
food additive petition for CARBON DIOXIDE LASER represented the first
permitted commercial marketing or use of the product. Thereafter, the
USPTO requested that FDA determine the product's regulatory review
period.
    FDA has determined that the applicable regulatory review period for
CARBON DIOXIDE LASER is 1,950 days. The applicant has not asserted a
testing phase. All 1,950 days of the regulatory review period occurred
during the approval phase. This period of time was derived from the
following dates:
    1. The date a major health or environmental effects test on the
food additive was initiated: No date claimed. The applicant has not
asserted a testing period.
    2. The date the application was initially submitted with respect to
the food additive under section 409 of the FD&C Act: February 9, 2007.
FDA has determined that the food additive petition (FAP) for Carbon
Dioxide Laser for Etching Food (FAP 7M4768) was submitted on February
9, 2007.
    3. The date a regulation for use of the food additive became
effective: June 11, 2012. FDA has verified the applicant's claim that
FAP 7M4768 was granted through FDA's issuance of a responsive food
additive regulation, effective June 11, 2012.
    This determination of the regulatory review period establishes the
maximum potential length of a patent extension. However, the USPTO
applies several statutory limitations in its calculations of the actual
period for patent extension. In its applications for patent extension,
this applicant seeks 5 years of patent term extension.
    Anyone with knowledge that any of the dates as published are
incorrect may submit to the Division of Dockets Management (see
ADDRESSES) either electronic or written comments and ask for a
redetermination by December 22, 2014. Furthermore, any interested
person may petition FDA for a determination regarding whether the
applicant for extension acted with due diligence during the regulatory
review period by April 20, 2015. To meet its burden, the petition must
contain sufficient facts to merit an FDA investigation. (See H. Rept.
857, part 1, 98th Cong., 2d sess., pp. 41-42, 1984.) Petitions should
be in the format specified in 21 CFR 10.30.
    Interested persons may submit to the Division of Dockets Management
(see ADDRESSES) electronic or written comments and written or
electronic petitions. It is only necessary to send one set of comments.
Identify comments with the docket number found in brackets in the
heading of this document. If you submit a written petition, two copies
are required. A petition submitted electronically must be submitted to
http://www.regulations.gov, Docket No. FDA-2013-S-0610. Comments and
petitions that have not been made publicly available on http://www.regulations.gov may be viewed in the Division of Dockets Management
between 9 a.m. and 4 p.m., Monday through Friday.

    Dated: October 16, 2014.
Leslie Kux,
Assistant Commissioner for Policy.
[FR Doc. 2014-25032 Filed 10-21-14; 8:45 am]
BILLING CODE 4164-01-P


[Federal Register Volume 78, Number 132 (Wednesday, July 10, 2013)]
[Rules and Regulations]
[Page 41290]
[FR Doc No: 2013-16442]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Docket No. FAA-2012-1334; Airspace Docket No. 12-ASO-18]

Establishment of Class E Airspace; Sanibel, FL

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final rule: correction.

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

SUMMARY: This action corrects the geographic coordinates in the
airspace description of a final rule, published in the Federal Register
on June 10, 2013, establishing controlled airspace at Sanibel Island
Heliport, Sanibel, FL.

DATES: Effective date: 0901 UTC. August 22, 2013. The Director of the
Federal Register approves this incorporation by reference action under
title 1, Code of Federal Regulations, part 51, subject to the annual
revision of FAA Order 7400.9 and publication of conforming amendments.

FOR FURTHER INFORMATION CONTACT: John Fornito, Operations Support
Group, Eastern Service Center, Federal Aviation Administration, P. O.
Box 20636, Atlanta, Georgia 30320; telephone<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

History

    On June 10, 2013, the FAA published a final rule, in the Federal
Register establishing Class E airspace at Sanibel Island Heliport,
Sanibel, FL. (78 FR 34557). After publication, the FAA found
typographical errors in the airspace designation and regulatory text
for both the heliport and point in space coordinates. This action makes
the corrections and is rewritten for clarity.
    The Class E airspace designations are published in Paragraphs 6005
of FAA order 7400.9V, dated August 8, 2012, and effective September 15,
2012, which is incorporated by reference in 14 CFR 71.1. The Class E
airspace designations listed in this document will be published
subsequently in the Order.

Correction to Final Rule

    Accordingly, pursuant to the authority delegated to me, on page
34558, beginning at line 50, the description of the Class E airspace
for Sanibel Island Heliport, Sanibel, FL, as published in the Federal
Register of June 10, 2013 (78 FR 34557), FR Doc. 2013-13107, is
corrected to read:
* * * * *

ASO FL E5 Sanibel, FL [Corrected]

Sanibel Island Heliport, FL
(Lat. 26[deg]27'46'' N., long. 82[deg]09'18'' W.) Point in Space
Coordinates
(Lat. 26[deg]27'52'' N., long. 82[deg]08'35'' W.)

    That airspace extending upward from 700 feet above the surface
within a 6-mile radius of the point in space coordinates (lat.
26[deg]27'52'' N., long. 82[deg]08'35'' W) serving Sanibel Island
Heliport.

    Issued in College Park, Georgia, on June 28, 2013.
Barry A. Knight,
Manager, Operations Support Group, Eastern Service Center, Air Traffic
Organization.
[FR Doc. 2013-16442 Filed 7-9-13; 8:45 am]
BILLING CODE 4910-13-P


PHOSMET (059201)

Screening Level Usage Analysis (SLUA)

Date: October 1, 2008

What is a Screening Level Usage Analysis (SLUA)?

Available estimates of pesticide usage data for a particular active
ingredient that is used on agricultural crops in the United States.

Pesticide usage data obtained from various sources.  The data are then
merged, averaged, and rounded so that the presented information is not
proprietary, business confidential, or trade secret.

What does it contain?

Pesticide usage data for a single active ingredient only.

Agricultural use sites (crops) that the pesticide is reported to be used
on.

Available pesticide usage information from U.S. states that produce 80%
or more of a crop, in most cases, or less than 80%, in rare cases,
depending on the scope of the survey and available resources.

Annual percent of crop treated (average & maximum) for each agricultural
crop.

Average annual pounds of the pesticide applied for each agricultural
crop (i.e., for the states surveyed, not for the entire United States).

What assumptions can I make about the reported data?

Average pounds of active ingredient applied - Values are calculated by
merging pesticide usage data sources together; averaging across all
observations, then rounding.  Note:  If the estimated value is less than
500, then that value is labeled <500.  Estimated values between 500 &
<1,000,000 are rounded to 1 significant digit.  Estimated values of
1,000,000 or greater are rounded to 2 significant digits.)

Average percent of crop treated - Values are calculated by merging data
sources together; averaging by year, averaging across all years, &
rounding to the nearest multiple of 5.  Note:  If the estimated value is
less than 1, then the value is labeled <1.

Maximum percent of crop treated - Value is the single maximum value
reported across all data sources, across all years, & rounded up to the
nearest multiple of 5.  Note:  If the estimated value is less than 2.5,
then the value is labeled <2.5.

What are the data sources used?

USDA-NASS (United States Department of Agriculture’s National
Agricultural Statistics Service) – pesticide usage data from 2001 to
2006.

Private pesticide market research – pesticide usage data from 2001 to
2007.

NPUD 2002 (National Pesticide Use Database) pesticide usage data from
NPUD 02 of the CropLife Foundation are used only if data are not
available from the other sources.

California Department of Pesticide Regulation (DPR) Pesticide Use
Reporting (PUR) data for 2000 to 2005 when 95% or more of a crop is
grown California.

What are the limitations to the data?

Additional registered uses may exist but are not included because the
available surveys do not report usage (e.g., small acreage crops).

Lack of reported usage data for the pesticide on a crop does not imply
zero usage.

Usage data on a particular site may be noted in data sources, but not
quantified.  In these instances, the site would not be reported in the
SLUA.

Non-agricultural use sites (e.g., turf, post-harvest, mosquito control,
etc.) are not reported in the SLUA.  A separate request must be made to
receive these estimates.

Some sites show some use, even though they are not on the label.  This
usage could be due to various factors, including, but not limited to
Section 18 requests, existing stocks of the chemical, data collection
errors, and experimental use permits (EUPs).

Wednesday, October 1, 2008

Screening Level Estimates of Agricultural Uses of PHOSMET 059201

Sorted Alphabetically

                        Crop			       Lbs. A.I.			       Percent Crop
Ttd.	  	 											        Avg.   	  Max.

          1         Alfalfa			          20,000			        <1
<2.5

	2 	Almonds	200,000	10             15

	3 	Apples	600,000	35             45

	4 	Apricots	4,000	10             20

	5 	Blueberries	30,000	50             55

	6 	Cherries	40,000	15             25

	7 	Cotton	1,000	<1          <2.5

	8 	Cranberries ( NPUD '02 )	<500	N/C	<1

	9 	Dry Beans/Peas	3,000	<1          <2.5

	10	Grapefruit	2,000	5               5

	11	Grapes	20,000	<2.5               5

	12	Kiwifruit *	<500	N/C	N/C

	13	Lemons	<500	<1          <2.5

	14	Nectarines	40,000	40             45

	15	Oranges	1,000	<1          <2.5

	16	Peaches	300,000	40             50

	17	Pears	90,000	25             40

	18	Peas, Green	1,000	<1          <2.5

	19	Pecans	5,000	<1          <2.5

	20	Pistachios	40,000	10             25

	21	Plums	30,000	15             30

	22	Potatoes	20,000	<2.5               5

	23	Prunes	40,000	10             15

	24	Pumpkins +	1,000	<1          <2.5

	25	Squash +	<500	<1          <2.5

	26	Sweet Corn +	<500	<1          <2.5

	27	Sweet Potatoes ( NPUD '02 )	40,000	N/C	55

	28	Walnuts 	80,000	 5             10

All numbers rounded.

'<500' indicates less than 500 pounds of active ingredient.

'<2.5' indicates less than 2.5 percent of crop is treated.

'<1' indicates less than 1 percent of crop is treated.

* CA data only, but 95% or more of U.S. acres are in California

SLUA data sources include:													USDA-NASS (United States
Department of Agriculture's National Agricultural Statistics Service);

            2001-2006

	Private Pesticide Market Research, 2001-2007

	NPUD 2002 (National Pesticide Use Database) of the CropLife America
Foundation and California

            DPR data.

	These results reflect amalgamated data developed by the Agency and are
releasable to the public.

N/C = Not Calculated

+ = These crops were not known to be listed on active end use product
registrations when this report was run.

     Not listed in OPPIN or LUIS


[Federal Register Volume 78, Number 93 (Tuesday, May 14, 2013)]
[Notices]
[Pages 28272-28273]
[FR Doc No: 2013-11367]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-69536; File No. SR-NASDAQ-2013-072]

Self-Regulatory Organizations; The NASDAQ Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change,
as Modified by Amendment No. 1 Thereto, To Amend Fees Assessed Under
Rule 7015(h)

May 8, 2013.
    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 April 24, 2013 The NASDAQ Stock Market LLC (``NASDAQ'' or the
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') a proposed rule change as described in Items I, II and
III below, which Items have been prepared by the Exchange. On May 3,
2013, the Exchange submitted Amendment No. 1 to the proposed rule
change. The Commission is publishing this notice to solicit comments on
the proposed rule change, as amended, from interested persons.
---------------------------------------------------------------------------

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

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

    NASDAQ is proposing to amend the fees assessed under Rule 7015(h).
On May 3, 2013, NASDAQ filed Amendment No. 1 to add additional
clarifications to statutory basis discussion. NASDAQ implemented the
amended fees effective on May 1, 2013.
    The text of the proposed rule change is below. Proposed new
language is italicized; proposed deletions are in brackets.
* * * * *

7015. Access Services

    The following charges are assessed by Nasdaq for connectivity to
systems operated by NASDAQ, including the Nasdaq Market Center, the
FINRA/NASDAQ Trade Reporting Facility, and FINRA's OTCBB Service. The
following fees are not applicable to the NASDAQ Options Market LLC. For
related options fees for Access Services refer to Chapter XV, Section 3
of the Options Rules.
    (a)-(g) No change.
    (h) VTE Terminal Fees
     Each ID is subject to a minimum commission fee of
$250[125] per month unless it executes a minimum of 100,000 shares.
     Each ID receiving market data is subject to pass-through
fees for use of these services. Pricing for these services is
determined by the exchanges and/or market center.
     Each ID that is given web access is subject to a $250[125]
monthly fee.
* * * * *

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

    In its filing with the Commission, NASDAQ 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 those 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 parts of such
statements.

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

1. Purpose
    NASDAQ is proposing to increase the fees assessed members under
Rule 7015(h) for use of VTE terminals. A VTE terminal is a basic front-
end user interface used by NASDAQ members to connect to, and enter
orders in, The Nasdaq Market Center. Members using VTE terminals pay
the exchanges and market centers separately for data feeds and services
provided by NASDAQ, other exchanges or market centers through VTE. Such
fees are filed with the SEC and separately assessed by the exchanges
and market centers at the same rate irrespective of the method of
accessing the data feeds. These data feeds provide information that is
necessary for users to enter orders through VTE. The two fees assessed
under Rule 7015(h) relate to optional web access and commissions.
    Rule 7015(h) currently assesses monthly a minimum commission fee of
$125 per ID for users executing orders totaling less than 100,000
shares per month, and a web access fee of $125 per ID. NASDAQ last
increased fees assessed under Rule 7015(h) in 2011 when it raised the
fee for access to the terminal via the web from $100 monthly to $125
monthly, and raised the minimum commission fee for users executing
orders totaling less than 100,000 shares per month from $100 monthly to
$125 monthly.\3\ In light of increasing costs, NASDAQ is proposing to
increase the fee for access to the terminal via the web from $125
monthly to $250 monthly, and increase the minimum commission fee for
users executing orders totaling less than 100,000 shares per month from
$125 monthly to $250 monthly.
---------------------------------------------------------------------------

    \3\ Securities Exchange Act Release No. 65014 (August 2, 2011),
76 FR 48189 (August 8, 2011) (SR-NASDAQ-2011-101).
---------------------------------------------------------------------------

    NASDAQ notes that web connectivity is one option available to
NASDAQ users for accessing the VTE terminal. Another option is access
through extranet connectivity, where a user contracts directly with a
third-party extranet provider and pays fees to that provider. With
respect to minimum commission fees, members that execute total orders
above the 100,000 share threshold will continue to not be assessed a
commission fee.
    Based on NASDAQ's operation of the VTE since it was acquired from
INET, NASDAQ believes that the pricing changes are warranted in order
to

appropriately balance the demand for the product with increasing
platform, overhead and technology infrastructure costs.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b) of the Act \4\ in general, and with Section 6(b)(4) \5\ of the
Act, in particular. The Exchange believes it is consistent with Section
6(b)(4) of the Act because it provides for the equitable allocation of
reasonable dues, fees and other charges among members and issuers and
other persons using any facility or system which the Exchange operates
or controls. All similarly situated members are subject to the same fee
structure, and access to this NASDAQ service is offered on fair and
non-discriminatory terms. NASDAQ has not increased the fees assessed
under Rule 7015(h) since 2011 despite incurring a substantial decrease
in subscribership, resulting in higher per-subscription costs as fixed
costs are spread among fewer users. Moreover, during this time NASDAQ
has also experienced increased costs associated with ongoing support of
the VTE platform, which include platform, overhead and technology
infrastructure costs. In order to continue to offer this service,
NASDAQ must increase the subscriber fees as proposed to cover the
overall general increase in cost to support the service, and to cover
the increased cost resulting from a smaller subscriber base. The
proposed fees realign the balance of the costs discussed above to the
fees received for the service so that it is similar to the ratio at the
time of the last fee increase. NASDAQ notes that it operates in a
highly competitive market in which market participants can readily
favor competing venues if they deem fee levels at a particular venue to
be excessive. Use of VTE terminals is entirely optional and members can
avail themselves of numerous other means of accessing The Nasdaq Market
Center. Members are not obligated to subscribe to VTE terminals and may
cancel an existing subscription at any time, with the obligation to pay
only for full the monthly fee for the month canceled. As such, the
Exchange believes that the proposed fees are reasonable.
---------------------------------------------------------------------------

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

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

    NASDAQ does not believe that the proposed rule change will result
in any burden on competition that is not necessary or appropriate in
furtherance of the purposes of the Act, as amended. The proposed fees
merely allow NASDAQ to recapture the increasing platform, overhead and
technology infrastructure costs it incurs in support of the service,
which are magnified on a per subscription basis given a declining
subscriber base. The fees are applied uniformly among subscribing
member firms, which are not compelled to subscribe to the service and
may access the information provided through other means. For these
reasons, any burden arising from the fees is necessary in the interest
of promoting the equitable allocation of a reasonable fee.

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

    Written comments were neither solicited nor received.

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

    The foregoing change has become effective pursuant to Section
19(b)(3)(A) of the Act,\6\ and paragraph (f) \7\ of Rule 19b-4,
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.
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78s(b)(3)(A).
    \7\ 17 CFR 240.19b-4(f).
---------------------------------------------------------------------------

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-NASDAQ-2013-072 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street NE.,
Washington, DC 20549-1090.
All submissions should refer to File Number SR-NASDAQ-2013-072. 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 offices of
NASDAQ. 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-
NASDAQ-2013-072, and should be submitted on or before June 4, 2013.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
---------------------------------------------------------------------------

    \8\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-11367 Filed 5-13-13; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 81, Number 168 (Tuesday, August 30, 2016)]
[Notices]
[Pages 59639-59640]
[FR Doc No: 2016-20765]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2016-N-0001]

Antimicrobial Drugs Advisory Committee; Notice of Meeting

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice.

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

SUMMARY: The Food and Drug Administration (FDA) announces a forthcoming
public advisory committee meeting of the Antimicrobial Drugs Advisory
Committee. The general function of the committee is to provide advice
and recommendations to the Agency on FDA's regulatory issues. The
meeting will be open to the public.

DATES: The meeting will be held on November 4, 2016, from 8:30 a.m. to
5 p.m.

ADDRESSES: FDA White Oak Campus, 10903 New Hampshire Ave., Bldg. 31
Conference Center, the Great Room (Rm. 1503), Silver Spring, MD 20993-
0002. Answers to commonly asked questions including information
regarding special accommodations due to a disability, visitor parking,
and transportation may be accessed at: http://www.fda.gov/AdvisoryCommittees/AboutAdvisoryCommittees/ucm408555.htm.

FOR FURTHER INFORMATION CONTACT: Lauren D. Tesh, Center for Drug
Evaluation and Research, Food and Drug Administration, 10903 New
Hampshire Ave., Bldg. 31, Rm. 2417, Silver Spring, MD 20993-0002, 301-
796-9001, Fax:<PHONE_NUMBER><EMAIL_ADDRESS>or FDA Advisory
Committee Information Line, 1-800-741-8138<PHONE_NUMBER> in the
Washington, DC area). A notice in the Federal Register about last
minute modifications that impact a previously announced advisory
committee meeting cannot always be published quickly enough to provide
timely notice. Therefore, you should always check the Agency's Web site
at http://www.fda.gov/AdvisoryCommittees/default.htm and scroll down to
the appropriate advisory committee meeting link, or call the advisory
committee information line to learn about possible modifications before
coming to the meeting.

SUPPLEMENTARY INFORMATION:
    Agenda: The committee will discuss new drug applications 209006 and
209007, solithromycin capsules and solithromycin for injection,
sponsored by Cempra Pharmaceuticals, Inc., respectively, for the
proposed indication of treatment of community-acquired bacterial
pneumonia.
    FDA intends to make background material available to the public no
later than 2 business days before the meeting. If FDA is unable to post
the background material on its Web site prior to the meeting, the
background material will be made publicly available at the location of
the advisory committee meeting, and the background material will be
posted on FDA's Web site after the meeting. Background material is
available at http://www.fda.gov/AdvisoryCommittees/Calendar/default.htm. Scroll down to the

appropriate advisory committee meeting link.
    Procedure: Interested persons may present data, information, or
views, orally or in writing, on issues pending before the committee.
Written submissions may be made to the contact person on or before
October 21, 2016. Oral presentations from the public will be scheduled
between approximately 1:30 p.m. and 2:30 p.m. Those individuals
interested in making formal oral presentations should notify the
contact person and submit a brief statement of the general nature of
the evidence or arguments they wish to present, the names and addresses
of proposed participants, and an indication of the approximate time
requested to make their presentation on or before October 13, 2016.
Time allotted for each presentation may be limited. If the number of
registrants requesting to speak is greater than can be reasonably
accommodated during the scheduled open public hearing session, FDA may
conduct a lottery to determine the speakers for the scheduled open
public hearing session. The contact person will notify interested
persons regarding their request to speak by October 14, 2016.
    Persons attending FDA's advisory committee meetings are advised
that the Agency is not responsible for providing access to electrical
outlets.
    FDA welcomes the attendance of the public at its advisory committee
meetings and will make every effort to accommodate persons with
disabilities. If you require accommodations due to a disability, please
contact Lauren D. Tesh at least 7 days in advance of the meeting.
    FDA is committed to the orderly conduct of its advisory committee
meetings. Please visit our Web site at http://www.fda.gov/AdvisoryCommittees/AboutAdvisoryCommittees/ucm111462.htm for procedures
on public conduct during advisory committee meetings.
    Notice of this meeting is given under the Federal Advisory
Committee Act (5 U.S.C. app. 2).

    Dated: August 25, 2016.
Leslie Kux,
Associate Commissioner for Policy.
[FR Doc. 2016-20765 Filed 8-29-16; 8:45 am]
 BILLING CODE 4164-01-P


[Federal Register Volume 88, Number 21 (Wednesday, February 1, 2023)]
[Rules and Regulations]
[Pages 6615-6618]
[FR Doc No: 2023-02010]

=======================================================================
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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. FAA-2022-1295; Project Identifier MCAI-2021-01181-T;
Amendment 39-22295; AD 2023-01-01]
RIN 2120-AA64

Airworthiness Directives; Airbus SAS Airplanes

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final rule.

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SUMMARY: The FAA is adopting a new airworthiness directive (AD) for all
Airbus SAS Model A318 series airplanes; Model A319-111, -112, -113, -
114, -115, -131, -132, and -133 airplanes; Model A320-211, -212, -214,
-216, -231, -232, and -233 airplanes; and Model A321-111, -112, -131, -
211, -212, -213, -231, and -232 airplanes. This AD was prompted by a
report of a nose landing gear (NLG) sliding tube rupture that led to a
NLG collapse. This AD requires inspection of certain NLG and main
landing gear (MLG) sliding tubes and applicable corrective actions and
eventual replacement of all affected parts, as specified in a European
Union Aviation Safety Agency (EASA) AD, which is incorporated by
reference (IBR). This AD also prohibits the installation of affected
parts under certain conditions. The FAA is issuing this AD to address
the unsafe condition on these products.

DATES: This AD is effective March 8, 2023.
    The Director of the Federal Register approved the incorporation by
reference

of a certain publication listed in this AD as of March 8, 2023.

ADDRESSES:
    AD Docket: You may examine the AD docket at regulations.gov under
Docket No. FAA-2022-1295; or in person at Docket Operations between 9
a.m. and 5 p.m., Monday through Friday, except Federal holidays. The AD
docket contains this final rule, the mandatory continuing airworthiness
information (MCAI), any comments received, and other information. The
address for Docket Operations is U.S. Department of Transportation,
Docket Operations, M-30, West Building Ground Floor, Room W12-140, 1200
New Jersey Avenue SE, Washington, DC 20590.
    Material Incorporated by Reference:
     For EASA material incorporated by reference in this AD,
contact EASA, Konrad-Adenauer-Ufer 3, 50668 Cologne, Germany; telephone
+49 221 8999 000; email [email protected]; website easa.europa.eu. You
may find this material on the EASA website at ad.easa.europa.eu.
     You may view this service information at the FAA,
Airworthiness Products Section, Operational Safety Branch, 2200 South
216th St., Des Moines, WA. For information on the availability of this
material at the FAA, call<PHONE_NUMBER>. It is also available at
regulations.gov under Docket No. FAA-2022-1295.

FOR FURTHER INFORMATION CONTACT: Hye Yoon Jang, Aerospace Engineer,
Large Aircraft Section, FAA, International Validation Branch, 2200
South 216th St., Des Moines, WA 98198; phone:<PHONE_NUMBER>; email:
[email protected].

SUPPLEMENTARY INFORMATION:

Background

    The FAA issued a notice of proposed rulemaking (NPRM) to amend 14
CFR part 39 by adding an AD that would apply to all Model A318 series
airplanes; Model A319-111, -112, -113, -114, -115, -131, -132, and -133
airplanes; Model A320-211, -212, -214, -216, -231, -232, and -233
airplanes; and Model A321-111, -112, -131, -211, -212, -213, -231, and
-232 airplanes. The NPRM published in the Federal Register on October
20, 2022 (87 FR 63715). The NPRM was prompted by AD 2021-0236, dated
October 29, 2021, issued by EASA, which is the Technical Agent for the
Member States of the European Union (EASA AD 2021-0236) (also referred
to as the MCAI). The MCAI states that NLG sliding tube rupture, leading
to NLG collapse during taxiing, occurred on a Model A320 airplane.
Investigations identified overheat damage on that NLG, caused by
incorrect accomplishment of a repair on the chromium-plated diameter of
the sliding tube during the last NLG overhaul. Further investigations
identified a batch of NLG and MLG sliding tubes that are possibly
affected by a similar condition, which, if not detected and corrected,
could lead to NLG or MLG structural failure and subsequent collapse of
the gears, possibly resulting in damage to the airplane and injury to
occupants.
    In the NPRM, the FAA proposed to require inspection of certain NLG
and MLG sliding tubes and applicable corrective actions and eventual
replacement of all affected parts. The NPRM also proposed to prohibit
the installation of affected parts under certain conditions. The FAA is
issuing this AD to address NLGs and MLGs that may have been subject to
the incorrect accomplishment of a repair, which, if not detected and
corrected, could lead to NLG or MLG structural failure and subsequent
collapse of the gears, possibly resulting in damage to the airplane and
injury to occupants.
    You may examine the MCAI in the AD docket at regulations.gov under
Docket No. FAA-2022-1295.

Discussion of Final Airworthiness Directive

Comments

    The FAA received a comment from the Air Line Pilots Association,
International (ALPA) who supported the NPRM without change.

Conclusion

    This product has been approved by the aviation authority of another
country and is approved for operation in the United States. Pursuant to
the FAA's bilateral agreement with this State of Design Authority, it
has notified the FAA of the unsafe condition described in the MCAI
referenced above. The FAA reviewed the relevant data, considered the
comment received, and determined that air safety requires adopting this
AD as proposed. Accordingly, the FAA is issuing this AD to address the
unsafe condition on this product. Except for minor editorial changes,
this AD is adopted as proposed in the NPRM. None of the changes will
increase the economic burden on any operator.

Related Service Information Under 1 CFR Part 51

    The FAA reviewed EASA AD 2021-0236, which specifies procedures for
a detailed inspection of the visible chrome surface of affected NLG and
MLG sliding tubes for any discrepancies (cracks), a magnetic particle
inspection (MPI) and Barkhausen noise inspection (BNI) of affected
parts for any discrepancies (cracks), eventual replacement of affected
parts, and corrective actions. Corrective actions include immediate
replacement of the NLG or MLG sliding tube or shock absorber. This
material is reasonably available because the interested parties have
access to it through their normal course of business or by the means
identified in ADDRESSES.

Costs of Compliance

    The FAA estimates that this AD affects 1,825 airplanes of U.S.
registry. Currently, there are no affected U.S.-registered airplanes
that would need the required actions because the affected part is not
installed on any U.S.-registered airplanes. U.S.-registered airplanes
therefore would need to comply with only the parts prohibition
specified in this AD.
    If an affected airplane is imported and placed on the U.S. Register
in the future, the FAA provides the following cost estimates to comply
with the required actions in this AD:

                  Estimated Costs for Required Actions
------------------------------------------------------------------------
                                                             Cost per
              Labor cost                  Parts cost *       product
------------------------------------------------------------------------
50 work-hours x $85 per hour = $4,250.              $0           $4,250
------------------------------------------------------------------------
* The FAA has received no definitive data on which to base the cost
  estimates for the replacement parts specified in this AD.

Authority for This Rulemaking

    Title 49 of the United States Code specifies the FAA's authority to
issue rules on aviation safety. Subtitle I, section 106, describes the
authority of the FAA Administrator. Subtitle VII: Aviation Programs,
describes in more detail the scope of the Agency's authority.
    The FAA is issuing this rulemaking under the authority described in
Subtitle VII, Part A, Subpart III, Section 44701: General requirements.
Under that section, Congress charges the FAA with promoting safe flight
of civil aircraft in air commerce by prescribing regulations for
practices, methods, and procedures the Administrator finds necessary
for safety in air commerce. This regulation is within the scope of that
authority because it addresses an unsafe condition that is likely to
exist or develop on products identified in this rulemaking action.

Regulatory Findings

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

List of Subjects in 14 CFR Part 39

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

The Amendment

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

PART 39--AIRWORTHINESS DIRECTIVES

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

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

Sec.  39.13   [Amended]

0
2. The FAA amends Sec.  39.13 by adding the following new airworthiness
directive:

2023-01-01 Airbus SAS: Amendment 39-22295; Docket No. FAA-2022-1295;
Project Identifier MCAI-2021-01181-T.

(a) Effective Date

    This airworthiness directive (AD) is effective March 8, 2023.

(b) Affected ADs

    None.

(c) Applicability

    This AD applies to all Airbus SAS Model airplanes specified in
paragraphs (c)(1) through (4) of this AD, certificated in any
category.
    (1) Model A318-111, -112, -121, and -122 airplanes.
    (2) Model A319-111, -112, -113, -114, -115, -131, -132, and -133
airplanes.
    (3) Model A320-211, -212, -214, -216, -231, -232, and -233
airplanes.
    (4) Model A321-111, -112, -131, -211, -212, -213, -231, and -232
airplanes.

(d) Subject

    Air Transport Association (ATA) of America Code 32, Landing
gear.

(e) Unsafe Condition

    This AD was prompted by a report of a nose landing gear (NLG)
sliding tube rupture leading to an NLG collapse. The FAA is issuing
this AD to address NLGs and main landing gears (MLGs) that may have
been subject to the incorrect accomplishment of a repair, which, if
not detected and corrected, could lead to NLG or MLG structural
failure and subsequent collapse of the gears, possibly resulting in
damage to the airplane and injury to occupants.

(f) Compliance

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

(g) Requirements

    Except as specified in paragraphs (h) of this AD: Comply with
all required actions and compliance times specified in, and in
accordance with, European Union Aviation Safety Agency (EASA) AD
2021-0236, dated October 29, 2021 (EASA AD 2021-0236).

(h) Exceptions to EASA AD 2021-0236

    (1) Where EASA AD 2021-0236 refers to its effective date, this
AD requires using the effective date of this AD.
    (2) Where paragraph (1) of EASA AD 2021-0236 specifies to do a
detailed visual inspection, replace the text ``the instructions of
the AOT'' with ``paragraphs <IP_ADDRESS> and <IP_ADDRESS> of the AOT.''
    (3) Where paragraph (2) of EASA AD 2021-0236 specifies to do a
magnetic particle inspection (MPI) and a Barkhausen noise inspection
(BNI), replace the text ``the instructions of the AOT'' with
``paragraphs <IP_ADDRESS> and <IP_ADDRESS> of the AOT.''
    (4) Where paragraph (3) of EASA AD 2021-0236 specifies that ``if
discrepancies are detected on an affected part'' for this AD
discrepancies include cracking and heat damage.
    (5) Where the service information referenced in EASA AD 2021-
0236 specifies to quarantine parts, this AD does not require that
action.
    (6) This AD does not adopt the ``Remarks'' section of EASA AD
2021-0236.

(i) No Reporting Requirement

    Although the service information referenced in EASA AD 2021-0236
specifies to submit certain information to the manufacturer, this AD
does not include that requirement.

(j) Additional AD Provisions

    The following provisions also apply to this AD:
    (1) Alternative Methods of Compliance (AMOCs): The Manager,
International Validation Branch, FAA, has the authority to approve
AMOCs for this AD, if requested using the procedures found in 14 CFR
39.19. In accordance with 14 CFR 39.19, send your request to your
principal inspector or responsible Flight Standards Office, as
appropriate. If sending information directly to the International
Validation Branch, send it to the attention of the person identified
in paragraph (k) of this AD. Information may be emailed to: [email protected]. Before using any approved AMOC, notify your
appropriate principal inspector, or lacking a principal inspector,
the manager of the responsible Flight Standards Office.
    (2) Contacting the Manufacturer: For any requirement in this AD
to obtain instructions from a manufacturer, the instructions must be
accomplished using a method approved by the Manager, International
Validation Branch, FAA; or EASA; or Airbus SAS's EASA Design
Approval Organization (DOA). If approved by the DOA, the approval
must include the DOA-authorized signature.

(k) Additional Information

    For more information about this AD, contact Hye Yoon Jang,
Aerospace Engineer, Large Aircraft Section, FAA, International
Validation Branch, 2200 South 216th St., Des Moines, WA 98198;
phone:<PHONE_NUMBER>; email: [email protected].

(l) Material Incorporated by Reference

    (1) The Director of the Federal Register approved the
incorporation by reference of the service information listed in this
paragraph under 5 U.S.C. 552(a) and 1 CFR part 51.
    (2) You must use this service information as applicable to do
the actions required by this AD, unless the AD specifies otherwise.
    (i) European Union Aviation Safety Agency (EASA) AD 2021-0236,
dated October 29, 2021.
    (ii) [Reserved]
    (3) For EASA AD 2021-0236, contact EASA, Konrad-Adenauer-Ufer 3,
50668 Cologne, Germany; telephone +49 221 8999 000; email
[email protected]; website easa.europa.eu. You may find this EASA
AD on the EASA website at ad.easa.europa.eu.
    (4) You may view this material at the FAA, Airworthiness
Products Section, Operational Safety Branch, 2200 South 216th St.,
Des Moines, WA. For information on the availability of this material
at the FAA, call<PHONE_NUMBER>.
    (5) You may view this service information that is incorporated
by reference at the

National Archives and Records Administration (NARA). For information
on the availability of this material at NARA, email
[email protected], or go to: www.archives.gov/federal-register/cfr/ibr-locations.html.

    Issued on January 4, 2023.
Gaetano A. Sciortino,
Acting Director, Compliance & Airworthiness Division, Aircraft
Certification Service.
[FR Doc. 2023-02010 Filed 1-31-23; 8:45 am]
 BILLING CODE 4910-13-P