Wigley, T.M.L. and Raper, S.C.B. 2002.  Reasons for larger warming
projections in the IPCC Third Assessment Report  J. Climate 15,
2945-2952.

This document has been copyrighted and is not available in the
electronic docket.  Parties that wish to view a hard copy of this
document can do so at the at the EPA Docket Center:  Air and Radiation
Docket and Information Center, EPA/DC, EPA West, Room 3334, 1301
Constitution Ave., NW, Washington DC.  The Public Reading Room is open
from 8:30 a.m. to 4:30 p.m., Monday through Friday, excluding legal
holidays.  The telephone number for the Public Reading Room is (202)
566-1744, and the telephone number for the Air Docket is<PHONE_NUMBER>.


[Federal Register Volume 77, Number 207 (Thursday, October 25, 2012)]
[Notices]
[Pages 65237-65241]
[FR Doc No: 2012-26253]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-68073; File No. SR-NASDAQ-2012-098]

Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Order
Granting Approval of Proposed Rule Change Relating to the Listing and
Trading of Shares of the WisdomTree Global Corporate Bond Fund of the
WisdomTree Trust

October 19, 2012.

I. Introduction

    On August 15, 2012, The NASDAQ Stock Market LLC (``Nasdaq'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission''), pursuant to Section 19(b)(1) of the Securities
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a
proposed rule change to list and trade the shares (``Shares'') of the
WisdomTree Global Corporate Bond Fund (``Fund'') of the WisdomTree
Trust (``Trust'') under Nasdaq Rule 5735. The proposed rule change was
published for comment in the Federal Register on September 5, 2012.\3\
The Commission received no comments on the proposal. This order grants
approval of the proposed rule change.
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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. 67750 (August 29,
2012), 77 FR 54640 (``Notice'').
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II. Description of the Proposed Rule Change

    The Exchange proposes to list and trade the Shares of the Fund
under Nasdaq Rule 5735, which governs the listing and trading of
Managed Fund Shares on the Exchange. The Fund will be an actively
managed exchange-traded fund (``ETF''). The Shares will be offered by
the Trust, which was established as a Delaware statutory trust on
December 15, 2005. The Fund is registered with the Commission as an
investment company and has filed a registration statement on Form N-1A
with the Commission.\4\ WisdomTree Asset Management, Inc. is the
investment adviser (``Adviser'') to the Fund,\5\ and Western Asset
Management Company serves as sub-adviser for the Fund (``Sub-
Adviser'').\6\ The Bank of New York Mellon is the administrator,
custodian, and transfer agent for the Trust, and ALPS Distributors,
Inc. serves as the distributor for the Trust.\7\ The Exchange
represents that neither the Adviser nor the Sub-Adviser are affiliated
with any broker-dealer.\8\
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    \4\ See Post-Effective Amendment No. 56 to Registration
Statement on Form N-1A for the Trust, dated July 1, 2011 (File Nos.
333-132380 and 811-21864) (``Registration Statement'').
    \5\ WisdomTree Investments, Inc. is the parent company of the
Adviser.
    \6\ The Sub-Adviser is responsible for day-to-day management of
the Fund and, as such, typically makes all decisions with respect to
portfolio holdings. The Adviser has ongoing oversight
responsibility.
    \7\ The Commission has issued an order granting certain
exemptive relief to the Trust under the Investment Company Act of
1940 (``1940 Act''). See Investment Company Act Release No. 28471
(October 27, 2008) (File No. 812-13458). In compliance with Nasdaq
Rule 5735(b)(5), which applies to Managed Fund Shares based on an
international or global portfolio, the Trust's application for
exemptive relief under the 1940 Act states that the Fund will comply
with the federal securities laws in accepting securities for
deposits and satisfying redemptions with redemption securities,
including that the securities accepted for deposits and the
securities used to satisfy redemption requests are sold in
transactions that would be exempt from registration under the
Securities Act of 1933.
    \8\ See Nasdaq Rule 5735(g). The Exchange represents that, in
the event (a) the Adviser or the Sub-Adviser becomes newly
affiliated with a broker-dealer, or (b) any new adviser or sub-
adviser becomes affiliated with a broker-dealer, it will implement a
fire wall with respect to such broker-dealer regarding access to
information concerning the composition and/or changes to a
portfolio, and will be subject to procedures designed to prevent the
use and dissemination of material, non-public information regarding
such portfolio. In addition, Adviser and/or Sub-Adviser personnel
who make decisions regarding the Fund's portfolio are subject to
procedures designed to prevent the use and dissemination of
material, non-public information regarding the Fund's portfolio.
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WisdomTree Global Corporate Bond Fund

    The Fund seeks to provide a high level of total return consisting
of both income and capital appreciation. To achieve its objective, the
Fund will invest in debt securities of corporations that are domiciled
or economically tied to countries throughout the world.

Global Corporate Debt

    Specifically, the Fund intends to achieve its investment objectives
through direct and indirect investments in Global Corporate Debt. With
respect to this proposal, Global Corporate Debt includes fixed-income
securities, such as bonds, notes, or other debt obligations, including
loan participation notes (``LPNs''),\9\ as well as other debt
instruments denominated in U.S. dollars or local currencies. Global
Corporate Debt also includes fixed income securities or debt
obligations that are issued by companies or agencies that may receive
financial support or backing from local government. Fixed income
securities include Money Market Securities as defined below.

Fixed income securities do not include derivatives.
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    \9\ The Fund may invest in LPNs with a minimum outstanding
principal amount of $200 million that the Adviser or Sub-Adviser
deems to be liquid.
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    Under normal circumstances,\10\ the Fund will invest at least 80%
of its net assets in Global Corporate Debt that are fixed income
securities. The Fund intends to provide exposure across geographic
regions and countries world-wide, including: North America, South
America, Asia, Australia and New Zealand, Latin America, Europe,
Africa, and the Middle East. The Fund intends to invest primarily in
countries with developed markets in corporate debt. The Fund intends to
invest up to 25% of its assets in emerging market countries, though
this may change from time to time in response to economic events and
changes to the credit ratings of the Global Corporate Debt of such
countries.\11\ The Fund's credit exposures are consistently monitored
from a risk perspective, and may be modified, reduced, or eliminated.
The Fund's exposure to any single issuer generally will be limited to
10% of the Fund's assets. The percentage of the Fund's assets in a
specific region, country, or issuer will change from time to time. The
Fund's exposure to any one country (other than the United States)
generally will be limited to 30% of the Fund's assets, though this
percentage may change from time to time in response to economic events
and changes to the credit ratings of the Global Corporate Debt of such
countries.
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    \10\ The term ``under normal circumstances'' includes, but is
not limited to, the absence of extreme volatility or trading halts
in the fixed income 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.
    \11\ According to the Adviser, while there is no universally
accepted definition of what constitutes an ``emerging market,'' in
general, emerging market countries are characterized by developing
commercial and financial infrastructure with significant potential
for economic growth and increased capital market participation by
foreign investors. The Adviser and Sub-Adviser look at a variety of
commonly-used factors when determining whether a country is an
``emerging'' market. In general, the Adviser and Sub-Adviser
consider a country to be an emerging market if: (1) it is either (a)
classified by the World Bank in the lower middle or upper middle
income designation for one of the past 5 years (i.e., per capita
gross national product of less than U.S. $9,385), (b) has not been a
member of OECD for the past five years or (c) classified by the
World Bank as high income and a member in OECD in each of the last
five years, but with a currency that has been primarily traded on a
non-delivered basis by offshore investors (e.g., Korea and Taiwan);
and (2) the country's debt market is considered relatively
accessible by foreign investors in terms of capital flow and
settlement considerations. This definition could be expanded or
exceptions made depending on the evolution of market and economic
conditions.
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    The universe of Global Corporate Debt currently includes securities
that are rated ``investment grade'' as well as ``non-investment
grade.'' \12\ The Fund intends to provide a broad exposure to Global
Corporate Debt and therefore will invest in both investment grade and
non-investment grade securities. The Fund intends to have 55% or more
of its assets invested in investment grade securities, though this
percentage may change in response to economic events and changes to the
credit ratings of such issuers. Within the non-investment grade
category, some issuers and instruments are considered to be of lower
credit quality and at higher risk of default. In order to limit its
exposure to these more speculative credits, the Fund will not invest
more than 15% of its assets in securities rated B or below by Moody's,
or equivalently rated by S&P or Fitch. The Fund does not intend to
invest in unrated securities. However, it may do so to a limited
extent, such as where a rated security becomes unrated, if such
security is determined by the Adviser and Sub-Adviser to be of
comparable quality. In determining whether a security is of
``comparable quality,'' the Adviser and Sub-Adviser will consider, for
example, whether the issuer of the security has issued other rated
securities.
---------------------------------------------------------------------------

    \12\ The Exchange states that the Adviser will interpret
``investment grade'' for purposes of this proposal to mean
securities rated in the Baa/BBB categories or above by one or more
nationally recognized securities rating organizations (``NRSROs'').
If a security is rated by multiple NRSROs and receives different
ratings, the Fund will treat the security as being rated in the
highest rating category received from an NRSRO. Rating categories
may include sub-categories or gradations indicating relative
standing.
---------------------------------------------------------------------------

    The Fund will invest only in corporate bonds that the Adviser or
Sub-Adviser deems to be sufficiently liquid. The Fund will only buy
performing debt securities and not distressed debt. Generally, a
corporate bond must have $200 million or more par amount outstanding
and significant par value traded to be considered as an eligible
investment. Economic and other conditions may lead to a decrease in the
average par amount outstanding of bond issuances. Therefore, although
the Fund does not intend to do so, the Fund may invest up to 5% of its
net assets in corporate bonds with less than $200 million par amount
outstanding if (1) The Adviser or Sub-Adviser deems such security to be
sufficiently liquid based on its analysis of the market for such
security (for example, broker-dealer quotations or trading history of
the security or other securities issued by the issuer), (2) such
investment is deemed by the Adviser or Sub-Adviser to be in the best
interest of the Fund, and (3) such investment is deemed consistent with
the Fund's goal of providing exposure to a broad range of countries and
issuers.
    The Fund may invest in Global Corporate Debt with effective or
final maturities of any length but will seek to keep the average
effective duration of its portfolio between two and ten years under
normal market conditions. Effective duration is an indication of an
investment's interest rate risk or how sensitive an investment or a
fund is to changes in interest rates. Generally, a fund or instrument
with a longer effective duration is more sensitive to interest rate
fluctuations, and, therefore, more volatile, than a fund with a shorter
effective duration. The Fund's actual portfolio duration may be longer
or shorter depending on market conditions.
    The Fund intends to invest in Global Corporate Debt of at least 13
non-affiliated issuers and will not concentrate 25% or more of the
value of its total assets (taken at market value at the time of each
investment) in any one industry, as that term is used in the 1940 Act
(except that this restriction does not apply to obligations issued by
the U.S. government or their respective agencies and instrumentalities
or government-sponsored enterprises).

Money Market Securities

    The Fund intends to invest in Money Market Securities in order to
help manage cash flows in and out of the Fund, such as in connection
with payment of dividends or expenses, to satisfy margin requirements,
to provide collateral, or to otherwise back investments in derivative
instruments. Under normal circumstances,\13\ the Fund may invest up to
25% of its net assets in Money Market Securities, although it may
exceed this amount where the Adviser or Sub-Adviser deems such
investment to be necessary or advisable, due to market conditions. For
these purposes, ``Money Market Securities'' include: short-term, high
quality obligations issued or guaranteed by the U.S. Treasury or the
agencies or instrumentalities of the U.S. government; short-term, high
quality securities issued or guaranteed by non-U.S. governments,
agencies and instrumentalities; repurchase agreements backed by U.S.
government and non-U.S. government securities; money market mutual
funds; and deposit and other obligations of U.S.

and non-U.S. banks and financial institutions. All Money Market
Securities acquired by the Fund will be rated investment grade,\14\
except that the Fund may invest in unrated Money Market Securities that
are deemed by the Adviser or Sub-Adviser to be of comparable quality to
money market securities rated investment grade.
---------------------------------------------------------------------------

    \13\ See note 10, supra.
    \14\ The term ``investment grade,'' for purposes of Money Market
Securities only, means securities rated A1 or A2 by one or more
NRSROs.
---------------------------------------------------------------------------

    The Fund Reserves the right to invest in U.S. government
securities, money market instruments, and cash, without limitation, as
determined by the Adviser or Sub-Adviser in response to adverse market,
economic, political, or other conditions. The Fund may also ``hedge''
or minimize its exposure to one or more foreign currencies in response
to such conditions. In the event the Fund engages in these temporary
defensive strategies that are inconsistent with its investment
strategies, the Fund's ability to achieve its investment objectives may
be limited.

Derivative Instruments and Other Investments

    The Fund may use derivative instruments that are fully-
collateralized as part of its investment strategy. Examples of
derivative instruments include forward currency contracts, interest
rate swaps, total return swaps, credit linked notes, and combinations
of investments that provide similar exposure to local currency debt,
such as investment in U.S. dollar denominated bonds combined with
forward currency positions or swaps.\15\ Forward currency contracts and
swap positions can be incorporated with bonds denominated in non-U.S.
currencies to hedge bond exposures back into U.S. dollars. Conversely,
forward currency contracts and swap positions can be implemented in
combination with U.S. dollar denominated bonds to create local currency
bond exposures. Additionally, the Fund's use of forward contracts and
swaps will be combined with investments in short-term, high quality
U.S. money market instruments in a manner designed to provide exposure
to similar investments in local currency deposits.\16\
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    \15\ To the extent practicable, the Fund will invest in swaps
cleared through the facilities of a centralized clearing house. The
Fund may also invest in Money Market Securities that may serve as
collateral for the futures contracts and swap agreements.
    \16\ The Adviser or Sub-Adviser will also attempt to mitigate
the Fund's credit risk by transacting only with large, well-
capitalized institutions using measures designed to determine the
creditworthiness of the counterparty. The Adviser or Sub-Adviser
will take various steps to limit counterparty credit risk which will
be described in the Registration Statement. The Fund will enter into
swap agreements only with financial institutions that meet certain
credit quality standards and monitoring policies. The Fund may also
use various techniques to minimize credit risk, including early
termination or reset and payment, using different counterparties,
and limiting the net amount due from any individual counterparty.
The Fund generally will collateralize swap agreements with cash and/
or certain securities. Such collateral will generally be held for
the benefit of the counterparty in a segregated tri-party account at
the custodian to protect the counterparty against non-payment by the
Fund. In the event of a default by the counterparty, and the Fund is
owed money in the swap transaction, the Fund will seek withdrawal of
the collateral from the segregated account and may incur certain
costs exercising its right with respect to the collateral.
---------------------------------------------------------------------------

    The Fund expects that no more than 20% of the value of the Fund's
net assets will be invested in derivative instruments. Such investments
will be consistent with the Fund's investment objective and will not be
used to enhance leverage. For example, the Fund may engage in swap
transactions that provide exposure to corporate debt or interest rates.
The Fund also may buy or sell listed currency futures contracts.\17\
---------------------------------------------------------------------------

    \17\ The exchange-listed futures contracts in which the Fund may
invest will be listed on exchanges in the U.S., London, Hong Kong,
or Singapore. Each of the United Kingdom's primary financial markets
regulator, the Financial Services Authority, Hong Kong's primary
financial markets regulator, the Securities and Futures Commission,
and Singapore's primary financial markets regulator, the Monetary
Authority of Singapore, are signatories to the International
Organization of Securities Commissions (``IOSCO'') Multilateral
Memorandum of Understanding (``MMOU''), which is a multi-party
information sharing arrangement among financial regulators. Both the
Commission and the Commodity Futures Trading Commission are
signatories to the IOSCO MMOU.
---------------------------------------------------------------------------

    With respect to certain kinds of derivative transactions entered
into by the Fund that involve obligations to make future payments to
third parties, including, but not limited to, futures and forward
contracts, swap contracts, the purchase of securities on a when-issued
or delayed delivery basis, or reverse repurchase agreements, the Fund,
in accordance with applicable federal securities laws, rules, and
interpretations thereof, will ``set aside'' liquid assets, or engage in
other measures to ``cover'' open positions with respect to such
transactions.
    The Fund may engage in foreign currency transactions, and may
invest directly in foreign currencies in the form of bank and financial
institution deposits, and certificates of deposit denominated in a
specified non-U.S. currency. The Fund may enter into forward currency
contracts in order to ``lock in'' the exchange rate between the
currency it will deliver and the currency it will receive for the
duration of the contract.\18\
---------------------------------------------------------------------------

    \18\ The Fund will invest only in currencies, and instruments
that provide exposure to such currencies, which have significant
foreign exchange turnover and are included in the Bank for
International Settlements Triennial Central Bank Survey, December
2010 (``BIS Survey''). The Fund may invest in currencies, and
instruments that provide exposure to such currencies, selected from
the top 40 currencies (as measured by percentage share of average
daily turnover for the applicable month and year) included in the
BIS Survey.
---------------------------------------------------------------------------

    The Fund may hold up to an aggregate amount of 15% of its net
assets in illiquid securities (calculated at the time of investment),
including (1) Rule 144A securities and (2) loan interests (such as loan
participations and assignments, but not including LPNs). 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 securities. Illiquid securities 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.
    The Fund will not invest in any non-U.S. equity securities. In
addition, the Fund intends to qualify each year as a regulated
investment company (``RIC'') under Subchapter M of the Internal Revenue
Code of 1986, as amended.
    Additional information regarding the Shares and the Fund, including
investment strategies, risks, creation and redemption procedures, fees,
portfolio holdings disclosure policies, availability of Fund values and
other information, and distributions and taxes, among other things, can
be found in the Notice and/or Registration Statement, as
applicable.\19\
---------------------------------------------------------------------------

    \19\ See supra notes 3 and 4, and accompanying text,
respectively.
---------------------------------------------------------------------------

III. Discussion and Commission Findings

    The Commission has carefully reviewed the proposed rule change and
finds that it is consistent with the requirements of Section 6 of the
Act \20\ and the rules and regulations thereunder applicable to a
national securities exchange.\21\ In particular, the Commission finds
that the proposal is consistent with Section 6(b)(5) of the

Act,\22\ which requires, among other things, that the Exchange's rules
be designed to prevent fraudulent and manipulative acts and practices,
to promote just and equitable principles of trade, to foster
cooperation and coordination with persons engaged in facilitating
transactions in securities, to remove impediments to and perfect the
mechanism of a free and open market and a national market system, and,
in general, to protect investors and the public interest. The
Commission notes that the Fund and the Shares must comply with the
requirements of Nasdaq Rule 5735 to be listed and traded on the
Exchange.
---------------------------------------------------------------------------

    \20\ 15 U.S.C. 78f.
    \21\ 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).
    \22\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Commission finds that the proposal to list and trade the Shares
on the Exchange is consistent with Section 11A(a)(1)(C)(iii) of the
Act,\23\ 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 UTP Level 1, as
well as Nasdaq proprietary quote and trade services. On each business
day, before commencement of trading in Shares in the Regular Market
Session \24\ on the Exchange, the Trust will disclose on its Web site
the identities and quantities of the portfolio of securities and other
assets (``Disclosed Portfolio'') held by the Fund that will form the
basis for the Fund's calculation of net asset value (``NAV'') at the
end of the business day.\25\ The NAV of the Fund's Shares generally
will be calculated once daily Monday through Friday as of the close of
regular trading on the New York Stock Exchange, generally 4:00 p.m.
Eastern time.\26\ Moreover, the Intraday Indicative Value, available on
the NASDAQ OMX Information LLC proprietary index data service,\27\ will
be based upon the current value for the components of the Disclosed
Portfolio and will be updated and widely disseminated by one or more
major market data vendors at least every 15 seconds during the Regular
Market Session. During hours when the markets for local debt in the
Fund's portfolio are closed, the Intraday Indicative Value will be
updated at least every 15 seconds during the Regular Market Session to
reflect currency exchange fluctuations. In addition, 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, and the
previous day's closing price and trading volume information for the
Shares will be published daily in the financial section of newspapers.
Intra-day, executable price quotations on Global Corporate Debt, as
well as derivative instruments, will be available from major broker-
dealer firms. Intra-day price information is available through
subscription services, such as Bloomberg and Thomson Reuters, which can
be accessed by authorized participants and other investors. The Web
site for the Fund will include a form of the prospectus for the Fund
and additional data relating to NAV and other applicable quantitative
information.
---------------------------------------------------------------------------

    \23\ 15 U.S.C. 78k-1(a)(1)(C)(iii).
    \24\ See Nasdaq Rule 4120(b)(4) (describing the three trading
sessions on the Exchange: (1) Pre-Market Session from 7:00 a.m. to
9:30 a.m.; (2) Regular Market Session from 9:30 a.m. to 4:00 p.m. or
4:15 p.m.; and (3) Post-Market Session from 4:00 p.m. or 4:15 p.m.
to 8:00 p.m.).
    \25\ The Disclosed Portfolio will include, as applicable, the
names, quantity, percentage weighting, and market value of fixed
income securities and other assets held by the Fund and the
characteristics of such assets.
    \26\ Under accounting procedures to be followed by the Fund,
trades made on the prior business day (``T'') will be booked and
reflected in NAV on the current business day (``T+1'').
Notwithstanding the foregoing, portfolio trades that are executed
prior to the opening of the Exchange on any business day may be
booked and reflected in NAV on such business day. Accordingly, the
Fund will be able to disclose at the beginning of the business day
the portfolio that will form the basis for the NAV calculation at
the end of the business day.
    \27\ Currently, the NASDAQ OMX Global Index Data Service
(``GIDS'') is the NASDAQ OMX global index data feed service,
offering real-time updates, daily summary messages, and access to
widely followed indexes and ETFs. GIDS provides investment
professionals with the daily and historical information needed to
track or trade NASDAQ OMX indexes, listed ETFs, or third-party
partner indexes and ETFs.
---------------------------------------------------------------------------

    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 Commission notes that the Exchange will obtain a
representation from the issuer of the Shares that the NAV per Share
will be calculated daily and that the NAV and the Disclosed Portfolio
will be made available to all market participants at the same time. In
addition, the Exchange will halt trading in the Shares under the
conditions specified in Nasdaq Rules 4120 and 4121. Trading may be
halted because of market conditions or for reasons that, in the view of
the Exchange, make trading in the Shares inadvisable. These 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. Trading in the Shares also will be subject to Rule
5735(d)(2)(D), which sets forth circumstances under which Shares of the
Fund may be halted. The Exchange will consider the suspension of
trading in or removal from listing of the Shares if the Intraday
Indicative Value is no longer calculated or available or the Disclosed
Portfolio is not made available to all market participants at the same
time.\28\ The Exchange represents that neither the Advisor nor the Sub-
Adviser is affiliated with any broker-dealer.\29\ The Commission notes
that the Reporting Authority that provides the Disclosed Portfolio 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 portfolio.\30\ The Exchange
states that trading of the Shares through Nasdaq will be subject to
FINRA's surveillance procedures for derivative products, including
Managed Fund Shares.\31\ The Exchange may obtain information via the
Intermarket

Surveillance Group (``ISG'') from other exchanges who are members or
affiliates of the ISG. Further, the Exchange states that it prohibits
the distribution of material, non-public information by its employees.
---------------------------------------------------------------------------

    \28\ See Nasdaq Rule 5735(d)(2)(C)(ii).
    \29\ See Nasdaq Rule 5735(g), supra note 8 and accompanying
text. The Commission notes 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.
    \30\ See Nasdaq Rule 5735(d)(2)(B)(ii).
    \31\ The Exchange states that FINRA surveils trading on Nasdaq
pursuant to a regulatory services agreement. Nasdaq is responsible
for FINRA's performance under this regulatory services agreement.
---------------------------------------------------------------------------

    The Exchange represents that the Shares are deemed to be equity
securities, thus rendering trading in the Shares 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 be subject to Nasdaq Rule 5735, which sets
forth the initial and continued listing criteria applicable to Managed
Fund Shares.
    (2) The Exchange has appropriate rules to facilitate transactions
in the Shares during all trading sessions.
    (3) The Exchange's surveillance procedures are adequate to properly
monitor the trading of the Shares on Nasdaq during all trading sessions
and to deter and detect violations of Exchange rules and the applicable
federal securities laws.
    (4) Prior to the commencement of trading, the Exchange will inform
its members in an Information Circular of the special characteristics
and risks associated with trading the Shares. Specifically, the
Information Circular will discuss the following: (a) The procedures for
purchases and redemptions of Shares in Creation Units (and that Shares
are not individually redeemable); (b) Nasdaq Rule 2310, which imposes
suitability obligations on Nasdaq members with respect to recommending
transactions in the Shares to customers; (c) how information regarding
the Intraday Indicative Value is disseminated; (d) the risks involved
in trading the Shares during the Pre-Market and Post-Market Sessions
when an updated Intraday Indicative Value will not be calculated or
publicly disseminated; (e) the requirement that members 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/or continued listing, the Fund must be in
compliance with Rule 10A-3 under the Act.\32\
---------------------------------------------------------------------------

    \32\ See 17 CFR 240.10A-3.
---------------------------------------------------------------------------

    (6) The Fund may hold up to an aggregate amount of 15% of its net
assets in illiquid securities (calculated at the time of investment),
including: (a) Rule 144A securities and (b) loan interests (such as
loan participations and assignments, but not including LPNs). The Fund
may invest in LPNs with a minimum outstanding principal amount of $200
million that the Adviser or Sub-Adviser deems to be liquid.
    (7) The Fund will not invest in any non-U.S. registered equity
securities.
    (8) The Fund expects that no more than 20% of the value of the
Fund's net assets will be invested in derivative instruments. Such
investments will be consistent with the Fund's investment objective and
will not be used to enhance leverage. To the extent practicable, the
Fund will invest in swaps cleared through the facilities of a
centralized clearing house. In addition, the Adviser or Sub-Adviser
will also attempt to mitigate the Fund's credit risk by transacting
only with large, well-capitalized institutions using measures designed
to determine the creditworthiness of the counterparty.
    (9) Under normal circumstances, the Fund may invest up to 25% of
its net assets in Money Market Securities, although it may exceed this
amount where the Adviser or Sub-Adviser deems such investment to be
necessary or advisable, due to market conditions.
    (10) The Fund intends to have 55% or more of its assets invested in
investment grade securities, though this percentage may change from
time to time in response to economic events and changes to the credit
ratings of such issuers. Within the non-investment grade category, some
issuers and instruments are considered to be of lower credit quality
and at higher risk of default. In order to limit its exposure to these
more speculative credits, the Fund will not invest more than 15% of its
assets in securities rated B or below by Moody's, or equivalently rated
by S&P or Fitch.
    (11) The Fund will invest only in corporate bonds that the Adviser
or Sub-Adviser deems to be sufficiently liquid. The Fund will only buy
performing debt securities and not distressed debt. Generally, a
corporate bond must have $200 million or more par amount outstanding
and significant par value traded to be considered as an eligible
investment.
    (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 is consistent with Section 6(b)(5) of the Act \33\ and the
rules and regulations thereunder applicable to a national securities
exchange.
---------------------------------------------------------------------------

    \33\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

IV. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\34\ that the proposed rule change (SR-NASDAQ-2012-098) be, and it
hereby is, approved.
---------------------------------------------------------------------------

    \34\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\35\
---------------------------------------------------------------------------

    \35\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-26253 Filed 10-24-12; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 82, Number 118 (Wednesday, June 21, 2017)]
[Notices]
[Pages 28314-28315]
[FR Doc No: 2017-12844]

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

ENVIRONMENTAL PROTECTION AGENCY

[EPA-R07-SFUND-0037; FRL-9960-34-Region7]

Proposed Administrative Cost Recovery Settlement Under the
Comprehensive Environmental Response Compensation and Liability Act;
Beatrice Former Manufactured Gas Plant Superfund Site, Beatrice,
Nebraska

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice; request for public comment.

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

SUMMARY: The Environmental Protection Agency is announcing a cost
recovery settlement with the City of Beatrice, Nebraska and Centel
Corporation, for the compromise of past response costs concerning the
Beatrice Former Manufactured Gas Plant Superfund Site in Beatrice,
Nebraska.

DATES: Comments must be submitted on or before July 21, 2017

ADDRESSES: The proposed settlement is available for public inspection
at the EPA Region 7 office, 11201 Renner Boulevard, Lenexa, Kansas,
Monday through Friday, between the hours of 8:00 a.m. through 4:00 p.m.
A copy of the proposed settlement may be obtained from the Regional
Hearing Clerk, 11201 Renner Boulevard, Lenexa, Kansas 66219, (913) 551-
7567 or email address<EMAIL_ADDRESS>Requests should reference
the Beatrice Former Manufactured Gas Plant Site, EPA Docket No.
CERCLA-. Comments should be addressed to: Barbara L. Peterson, Senior
Assistant Regional Counsel, 11201 Renner Boulevard, Lenexa, Kansas
66219. The proposed settlement is also available at the following Web
site: http://www2.epa.gov/aboutepa/epa-region-7-midwest.

FOR FURTHER INFORMATION CONTACT: Barbara L. Peterson, at telephone:
(913) 551-7277; fax number:<PHONE_NUMBER>/Attn: Barbara Peterson;
email address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: In accordance with Section 122(i) of the
Comprehensive Environmental Response Compensation and Liability Act, as
amended (CERCLA), 42 U.S.C. 9622(i), notice is hereby given of a
proposed administrative settlement with the City of Beatrice, Nebraska
and Centel Corporation, for the compromise of past response costs
concerning the Beatrice Former Manufactured Gas Plant Superfund Site in
Beatrice, Nebraska. The settlement includes a covenant not

to sue with the settling parties pursuant to Section 107(a) of CERCLA,
42 U.S.C. 9607(a). For notice, EPA will receive written comments
relating to the compromise of costs component of the settlement. EPA
will consider all comments and may modify or withdraw its consent to
the settlement if comments received disclose facts or considerations
which indicate that the compromise of costs is inappropriate, improper,
or inadequate. EPA's response to any comments received will be
available for public inspection at the EPA Region 7 office located at
11201 Renner Boulevard, Lenexa, Kansas 66219.

    Dated: January 11, 2017.
Mary P. Peterson,
Division Director, Superfund Division, EPA Region 7.
[FR Doc. 2017-12844 Filed 6-20-17; 8:45 am]
BILLING CODE 6560-50-P


MEMORANDUM

SUBJECT:	Technical Support Document for Approval of Missouri State Implementation Plan Revision relating to Construction Permit Exemptions

FROM:	Bethany Olson 		ARD/AQPB/CPPS

TO:		MO-454; EPA-R07-OAR-2022-XXXX

THRU:	Andy Hawkins, Branch Chief       ARD/AQPB

SUMMARY:

The Environmental Protection Agency (EPA) is proposing to approve revisions to the Missouri State Implementation Plan (SIP). The EPA received the Missouri Department of Natural Resources' (MoDNR) SIP revision submission on June 10, 2021.

Specifically, the revisions are to a state rule at Title 10, Division 10 of the Code of State Regulations (CSR) 10 CSR 10-6.061 Construction Permit Exemptions, which is SIP approved at 40 CFR § 52.1320(c). The purpose of the state regulation is to list specific construction or modification projects that are exempt from the requirement to obtain permits to construct under 10 CSR 10-6.060.

These proposed revisions to the rule update incorporations by references, remove unnecessary words, and make minor clarifications and grammatical changes. These revisions do not impact the stringency of the SIP and do not adversely impact air quality.

RULE REVISIONS:

Below is EPA's description of the changes made to each rule section and the text of the revised rule

Revisions that are additions to the MoDNR's existing approved SIP rule text are bold. Revisions that are deletions to the existing approved SIP rule text are stricken through. The rule text with changes is listed first and is followed by a summary of the EPA's review of the changes. Portions of the rule that were unchanged are not included in this technical support document (TSD).

                10 CSR 10-6.061 Construction Permit Exemptions

(1) Applicability. This rule shall apply to all installations in applies throughout the state of Missouri. Notwithstanding Tthe provisions of section (3) of this rule notwithstanding, 10 CSR 10-6.060 shall apply to any construction, reconstruction, alteration, or modification which --

(A) Is expressly required by an operating permit; or

(B) Is subject to federally-mandated construction permitting requirements set forth in sections (7), (8), or (9), or any combination of these, of 10 CSR 10-6.060.

(2) Definitions. Definitions for certain terms specified used in this rule may be are found in 10 CSR 10-6.0206.060.

EPA Analysis: The revisions to Sections (1) and (2) are administrative in nature and do not affect the stringency of the SIP.

(3) General Provisions. The following construction or modifications are not required exempt from the requirement to obtain a permit under 10 CSR 10-6.060:

(A) Exempt Emission Units Sources of Emissions.

      1. The following combustion equipment isfrom       2.1. 10 CSR 10-6.060 if the equipment that emits only combustion products and the equipment produces less than one hundred fifty (150) pounds per day of any air contaminant:               A. Any cCombustion equipment using exclusively natural gas, or liquefied petroleum gas, or any combination of these with a heat input capacity of less than ten (10) million British thermal units (Btus) per hour heat input;

      B. Any cCombustion equipment with a heat input capacity of less than one (1) million Btus per hour heat input;

      C. Drying or heat treating ovens with less than ten (10) million Btus per hour heat input capacity provided the oven does not emit pollutants other than the combustion products and the oven is fired exclusively by natural gas, liquefied petroleum gas, or any combination thereof; and

      D. Any oOven with a total production of yeast -leavened bakery products of less than ten thousand (10,000) pounds per operating day heated either electrically or exclusively by natural gas firing with a maximum heat input capacity of less than ten (10) million Btus per hour.

      3.2. The following establishments, systems, equipment and operations are exempt from 10 CSR 10-6.060:

      A. Office and commercial buildings, where emissions result solely from space heating by natural or liquefied petroleum gas with a heat input capacity of less than twenty (20) million Btus per hour heat input. Incinerators operated in conjunction with these sources are not exempt unless the incinerator operations are exempt under another section of this rule;

      B. Comfort air conditioning or comfort ventilating systems not designed or used to remove air contaminants generated by, or released from, specific units of equipment control air pollutant emissions;

      C. Equipment used for any mode of transportation;

(Section (3)(A)2.D. is not included in the SIP.)

      E. Any gGrain handling, storage, and drying facility which --                     (I) Is in noncommercial use only (used only to handle, dry, or store grain produced by the owner) if --                                 (a) The total storage capacity does not exceed seven hundred fifty thousand (750,000) bushels;                                      (b) The grain handling capacity does not exceed four thousand (4,000) bushels per hour; and                                      (c) The facility is located at least five hundred feet (500') from any recreational area, residence, or business not occupied or used solely by the owner;                                (II) Is in commercial or noncommercial use and --                                 (a) tThe total storage capacity of the new and any existing facility(ies) does not exceed one hundred ninety thousand (190,000) bushels;

                  (d) or                   (e)                   (f)(b) Is in commercial or noncommercial use and hHas an installation of additional grain storage capacity in which there is no increase in hourly grain handling capacity and that utilizes existing grain receiving and loadout equipment; or

(Section (3)(A)2.E.(II)(c) is not included in the SIP.)

      F. Restaurants and other retail establishments for the purpose of preparing food for employee and guest consumption;

      G. Any wWet sand and gravel production facility that meets the following criteria:

            (I) obtains its Processed materials are obtained from subterranean and subaqueous beds where the deposits of sand and gravel are consolidated granular materials resulting from natural disintegration of rock and stone; and whose

            (II) mMaximum production rate is less than five hundred (500) tons per hour.;

            (III) All permanent in- plant roads shall be within the facility are paved and cleaned, or watered, or properly treated with dust-suppressant chemicals as necessary to achieve good engineering control of dust emissions.;

            (I)(IV) Only natural gas shall be used as a fuel when drying;

      G.H. Equipment solely installed for the purpose of controlling fugitive dust;

      H.I. Equipment or control equipment which eliminates all emissions to the ambient air;

      I.J. Equipment, including air pollution control equipment, but not including an anaerobic lagoon, that emits odors but no regulated air pollutants;

      J.K. Residential wood heaters, cookstoves, or fireplaces;

      K.L. Laboratory equipment used exclusively for chemical and physical analysis or experimentation, except equipment used for controlling radioactive air contaminants;

      L.M. Recreational fireplaces;

      M.N. Stacks or vents to prevent the escape of sewer gases through plumbing traps for systems handling domestic sewage only. Systems which include any industrial waste do not qualify for this exemption;

      N.O. Noncommercial incineration of dead animals, the on-site incineration of resident animals for which no consideration is received or commercial profit is realized as authorized in section 269.020.6, RSMo 2000;

      O.P. The following miscellaneous activities:

...           P.Q. The following internal combustion engines:

            (I) Portable electrical generators that can be moved by hand without the assistance of any motorized or non-motorized vehicle, conveyance, or device;        ...

      Q.R. The following quarries, mineral processing, and biomass facilities:

...

            (IV) Sources at biomass recycling, composting, landfill, publicly owned treatment works (POTW), or related facilities specializing in the operation of, but not limited to, tub grinders powered by a motor with a maximum output rating of ten (10) horsepower,; hoggers, and shredders, and similar equipment powered by a motor with a maximum output rating of twenty-five (25) horsepower,; and other sources at such facilities with a total throughput less than five hundred (500) tons per year; and

            (V) Land farming of soils contaminated only with petroleum fuel products where the farming beds are located a minimum of three hundred feet (300') from the property boundary;              R.S. The following kilns and ovens:

...

      S.T. The following food and agricultural equipment:

            (I) Any eEquipment used in agricultural operations to grow crops;

...                    (IV) Equipment used exclusively to grind, blend, package, or store tea, cocoa, spices, or coffee;

...

      T.U. Batch solvent recycling equipment provided the recovered solvent is used primarily on-site, the maximum heat input is less than one (1) million Btus per hour, the batch capacity is less than one hundred fifty (150) gallons, and there are no solvent vapor leaks from the equipment which exceed five hundred (500) parts per million;

      U.V. The following surface coating and printing operations:

            (I) Batch mixing of inks, coatings, or paints provided --                    (a) The operations do not occur at an ink, coatings, or paint manufacturing facility;                   (b) gGood housekeeping is practiced, spills are cleaned up as soon as possible, equipment is maintained according to manufacturer's instruction, and property is kept clean.; In addition,                   (c) aAll waste inks, coating, and paints shall be disposed of properly.;                   (a)(d) Prior to disposal, all liquid waste shall be is stored in covered container.; This exemption does not apply to ink, coatings, or paint manufacturing facilities; ...

      V.W. The following metal working and handling equipment:

...

      W.X. The following liquid storage and loading equipment:

...

      X.Y. The following chemical processing equipment or operations:

...

      Y.Z. Body repair and refinishing of motorcycle, passenger car, van, light trucks, and heavy trucks, and other vehicle body parts, bodies, and cabs, provided --                     (I) Good housekeeping is practiced; spills are cleaned up as soon as possible, equipment is maintained according to manufacturers' instructions, and property is kept clean. In addition, aAll waste coatings, solvents, and spent automotive fluids including, but not limited to, fuels, engine oil, gear oil, transmission fluid, brake fluid, antifreeze, fresh or waste fuels, and spray booth filters or water wash sludge are disposed of properly. Prior to disposal, all liquid waste shall be stored in covered containers. All In addition, all solvents and cleaning materials shall be stored in closed containers;                    (II) All spray coating operations shall be performed in a totally enclosed filtered spray booth or totally enclosed filtered spray area with an air intake area of less than one hundred (100) square feet. All spray areas shall be equipped with a running fan which shall be operated during spraying, and the exhaust air shall either be vented through a stack to the atmosphere or the air shall be recirculated back into the shop through a carbon adsorption system. All carbon adsorption systems shall be properly maintained according to the manufacturer's operating instructions, and the carbon shall be replaced at the manufacturer's recommended intervals to minimize solvent emissions; and        ...

      BB. Internal combustion engines and gas turbine driven compressors, electric generator sets, and water pumps, used only for portable or emergency services, provided that the maximum annual operating hours shall not exceed five hundred (500) hours. Emergency generators are exempt only if their sole function is to provide backup power when electric power from the local utility is interrupted. This exemption only applies if the emergency generators are equipped with a non-resettable meter, and operated only during emergency situations and for short periods of time to perform maintenance and operational readiness testing. The emergency generator shall be equipped with a non-resettable meter;

...

      4.3. Construction or modifications are exempt from 10 CSR 10-6.060 if they that meet the requirements of subparagraphs (3)(A)3.B. of this rule for each hazardous air pollutant and the requirements of subparagraph (3)(A)3.A., (3)(A)3.C., or (3)(A)3.D. of this rule for each criteria pollutant. The director may require review of construction or modifications otherwise exempt under paragraph (3)(A)3. of this rule if the emissions of the proposed construction or modification will appreciably affect air quality or the air quality standards are appreciably exceeded or complaints involving air pollution have been filed in the vicinity of the proposed construction or modification.

...

(B) Excluded Activities. 10 CSR 10-6.060 does not apply to Any activity that is --

      1. Routine maintenance, parts replacement or relocation of emission units within the same installation which do not involve either any appreciable change either in the quality or nature, or any increase in either the potential to emit or the effect on air quality, of the emissions of any air contaminant. Some examples are as follows:

...

      C. Replacement of Replacing fans, pumps, or motors which does not alter the operation of a source or performance of a control device;

      D. Replacement of Replacing boiler tubes;

      E. Replacement of Replacing piping, hoods, and ductwork; and

      F. Replacement of Replacing engines, compressors, or turbines as part of a normal maintenance program;

      2. Changes in a process or process equipment which do not involve installing, constructing or reconstructing an emissions unit or associated air cleaning devices, and that do not involve either any appreciable change either in the quality or nature, or any increase in either the potential to emit or the effect on air quality of the emissions of any air contaminant. Some examples are as follows:

      A. Change in Changing supplier or formulation of similar raw materials, fuels, paints, and other coatings;

      B. Change in Changing the sequence of the process;

      C. Change in Changing the method of raw material addition;

      D. Change in Changing the method of product packaging;

      E. Change in Changing the process operating parameters;

      F. Replacement of Replacing an identical or more efficient cyclone precleaner which is used as a precleaner in a fabric filter control system;

      G. Installation of Installing a floating roof on an open top petroleum storage tank;

      H. Replacement of Replacing a fuel burner in a boiler with a more thermally efficient burner;

...

      4. The exempt activities in paragraphs (3)(B)1. - 3. of this rule reflect a presumption that existing emission units which are changed or replaced by like-kind units shall be treated as having begun normal operation for purposes of the definition of determining actual emissions in 10 CSR 10-6.020;

      5. The following miscellaneous activities:

      A. Plant maintenance, and upkeep activities such as routine cleaning, janitorial services, use of janitorial products, grounds keeping, general repairs, architectural or maintenance painting, welding repairs, plumbing, roof repair, installing insulation, using air compressors and pneumatically operated equipment, and paving parking lots, provided these activities are not conducted as part of the installation's primary business activity;

...

(C) Exceptions to Excluded Activities. The exclusion provisions of subsection (3)(B) of this rule notwithstanding, 10 CSR 10-6.060 shall apply to any construction, reconstruction, alteration or modification which --

1. Is expressly required by an operating permit; or

2. Is subject to federally-mandated construction permitting requirements set forth in sections (7), (8), or (9), or any combination of these, of 10 CSR 10-6.060.

EPA Analysis: The revisions to Subsections (3)(A) and (B) are administrative in nature and do not affect the stringency of the SIP. The removal of Subsection (3)(C) does not affect the stringency of the SIP because the applicability provisions, which list the same criteria as Subsection (3)(C), remain in Section (1). EPA finds this change streamlines the rule requirements and does not negatively impact the stringency of the SIP. Sections (3)(A)2.D. and (3)(A)2.E.(II)(c) are not SIP approved and not included in this revision.

(4) Reporting and Record Keeping. The operator shall maintain records in sufficient detail to show compliance with the exemptions in paragraph (3)(A)3. of this rule. Any noncompliance with the requirements in this paragraph constitutes a violation and is grounds for enforcement action and the exemption will no longer apply. Operators of installations found to be not in compliance with the requirements of this paragraph shall be required to apply for a construction permit under 10 CSR 10-6.060. The exemptions shall be documented as follows:

(A) Record keeping shall begin on the date the construction, reconstruction, modification, or operation commencement and records shall be maintained to prove potential emissions are below de minimis levels and that actual emissions are below the exemption threshold levels in paragraph (3)(A)3. of this rule. Records shall be maintained using Emission Inventory Questionnaire (EIQ) methods in accordance with EIQ emission calculation hierarchy; or

...

(5) Test Methods. (Not Applicable)

EPA Analysis: The revisions to Sections (4) are administrative in nature and do not affect the stringency of the SIP.


[Federal Register Volume 79, Number 213 (Tuesday, November 4, 2014)]
[Notices]
[Page 65437]
[FR Doc No: 2014-26235]

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

SECURITIES AND EXCHANGE COMMISSION

Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the
Government in the Sunshine Act, Public Law 94-409, that the Securities
and Exchange Commission will hold a Closed Meeting on Thursday,
November 6, 2014 at 2:00 p.m.
    Commissioners, Counsel to the Commissioners, the Secretary to the
Commission, and recording secretaries will attend the Closed Meeting.
Certain staff members who have an interest in the matters also may be
present.
    The General Counsel of the Commission, or her designee, has
certified that, in her opinion, one or more of the exemptions set forth
in 5 U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) and 17 CFR
200.402(a)(3), (5), (7), 9(ii) and (10), permit consideration of the
scheduled matter at the Closed Meeting.
    Commissioner Piwowar, as duty officer, voted to consider the items
listed for the Closed Meeting in closed session.
    The subject matter of the Closed Meeting will be:
    Institution and settlement of injunctive actions;
    Institution settlement of administrative proceedings;
    Adjudicatory matter;
    Other matters relating to enforcement proceedings.
    At times, changes in Commission priorities require alterations in
the scheduling of meeting items.
    For further information and to ascertain what, if any, matters have
been added, deleted or postponed, please contact the Office of the
Secretary at<PHONE_NUMBER>.

    Dated: October 30, 2014.
Brent J. Fields,
Secretary.
[FR Doc. 2014-26235 Filed 10-31-14; 11:15 am]
BILLING CODE 8011-01-P


AGENDA FOR

ENERGY-WATER NEXUS PARTNERS MEETING

Hosted by the U.S. Geological Survey and the U.S. Energy Information Administration

U.S. Department of Energy

1000 Independence Avenue, SW

Washington, DC 20585

March 22, 2012

Discussion is encouraged throughout the presentations.

  9:00 AM	Welcome and Background – Stan Kaplan, EIA

  9:15 AM	Background on GAO Report 10-23 – Eric Evenson, USGS

  9:30 AM	Overview of EIA Surveys, Cooling System Data, Recent Developments and OMB Clearance Process – Vlad Dorjets, EIA

10:00 AM	Quality Assurance of Cooling System Data – Cha Chi Fan, EIA

10:20 AM	Architectural Challenges of Collecting Cooling System Data and Implications on Analysis – Glenn McGrath, EIA

10:45 AM	Break

11:00 AM	Open Discussion on EIA Data and Work

12:00 PM	Lunch

  1:00 PM	Overview of USGS Thermoelectric Team Work – Eric Evenson, USGS

  1:10 PM	Results of Plant Location Project – Susan Hutson, USGS

  1:2O PM	Analysis of EIA-Derived Master List – Melissa Harris, USGS

  1:30 PM	Presentation of Hierarchical Model – Tim Diehl, USGS

  2:00 PM	Open Discussion on USGS Data and Work

  3:00 PM	Break

  3:15 PM	MIT System-Level Generic Model of Water Use at Power Plants– Michael Rutberg, MIT

  3:45 PM	ASME Power Plant Cooling Specifications/Design Guide – Carey King, University of Texas at Austin

  4:15 PM	Freshwater Use by U.S. Power Plants –Kristen Averyt, University of Colorado at Boulder

  4:45 PM	Open Discussion of Future Meetings, Areas of Interest and Related Topics

  5:00 PM	Adjourn

List of Participants

Organization	Name	Remote

American Water Works Association	Adam Carpenter

Steve Via

	Constellation Energy	Ed Miller

	Edison Electric Institute	Henri Bartholomot

Steve Frauenheim

Karen Obenshain

Y

Electric Power Research Institute	David Bailey

Bob Goldstein

Kent Zammit

Y

Y

Entergy Nuclear	Rick Buckley

	Exelon	Joshua Trembley	Y

Independent Consultant	Gary Vine

	Massachusetts Institute of Technology	Michael Rutberg

	National Energy Technology Laboratory	Erik Shuster

	National Renewable Energy Laboratory	Jordan MacKnick

Robin Newmark	Y

Y

Nuclear Energy Institute	David Bradish

William Skaff

	PSEG	Russell Furnari

	Sandia National Laboratory 	Vince Tidwell

	Tennessee Valley Authority	Chuck Bohac

Gary Springston	Y

Y

U.S. DOE / Office of Policy & International Affairs	Craig Zamuda

	U.S. Energy Information Administration	Jim Diefenderfer

Vlad Dorjets

Cha Chi Fan

Stan Kaplan

Mike Leff

Fred Mayes

Glenn McGrath

Suparna Ray

Nancy Slater-Thompson

Channele Wirman

	U.S. Environmental Protection Agency	Veronica Blette

Roger Gorke

Karen Metchis

Paul Shriner

	U.S. Geological Survey	Tim Diehl

Eric Evenson

Melissa Harris

Susan Hutson

	University of Colorado at Boulder	Kristen Averyt

	University of Texas at Austin	Carey King

	Water in the West at Stanford University	Andrew Fahlund	Y

Watercat Consulting LLC	Cat Shrier

	Western Governors Association	Shanna Brown

Tom Iseman	Y


[Federal Register: September 30, 2008 (Volume 73, Number 190)]
[Notices]
[Page 56869]
[DOCID:fr30se08-102]

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

SECURITIES AND EXCHANGE COMMISSION

Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the
Government in the Sunshine Act, Public Law 94-409, that the Securities
and Exchange Commission will hold a Closed Meeting on Wednesday,
September 24, 2008, at 4:30 p.m.
    Commissioners, Counsels to the Commissioners, the Acting Secretary
to the Commission, and certain staff members who have an interest in
the matter will attend the Closed Meeting.
    The General Counsel of the Commission, or his designee, has
certified that, in his opinion, one or more of the exemptions as set
forth in 5 U.S.C. 552b(c)(8) and (9) and 17 CFR 200.402(a)(8) and (9),
permit consideration of the scheduled matter at the Closed Meeting.
    Commissioner Casey, as duty officer, voted to consider the item
listed for the closed meeting in closed session, and determined that no
earlier notice thereof was possible.
    The subject matter of the Closed Meeting scheduled for Wednesday,
September 24, 2008, will be: Matters related to the financial markets.
    At times, changes in Commission priorities require alterations in
the scheduling of meeting items. For further information and to
ascertain what, if any, matters have been added, deleted or postponed,
please contact:
    The Office of the Secretary at<PHONE_NUMBER>.

    Dated: September 24, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-22858 Filed 9-29-08; 8:45 am]

BILLING CODE 8010-01-P


[Federal Register Volume 88, Number 107 (Monday, June 5, 2023)]
[Notices]
[Pages 36650-36651]
[FR Doc No: 2023-12016]

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

UNIFIED CARRIER REGISTRATION PLAN

Sunshine Act Meetings

TIME AND DATE: June 8, 2023, 12:00 p.m. to 3:00 p.m., Eastern Time.

PLACE: This meeting will be accessible via conference call and via Zoom
Meeting and Screenshare. Any interested person may call (i) 1-929-205-
6099 (US Toll) or 1-669-900-6833 (US Toll), Meeting ID: 952 0476 1775,
to listen and participate in this meeting. The website to participate
via Zoom Meeting and Screenshare is https://kellen.zoom.us/meeting/register/tJEvd-2vqDotHdGFSelrZ4pwW-Bp9kQs0voJ.

STATUS: This meeting will be open to the public.

MATTERS TO BE CONSIDERED: The Unified Carrier Registration Plan Board
of Directors (the ``Board'') will continue its work in developing and
implementing the Unified Carrier Registration Plan and Agreement. The
subject matter of this meeting will include:

Proposed Agenda

I. Welcome and Call to Order--UCR Board Chair

    The UCR Board Chair will welcome attendees, call the meeting to
order, call roll for the Board, confirm the presence of a quorum, and
facilitate self-introductions.

II. Verification of Publication of Meeting Notice--UCR Executive
Director

    The UCR Executive Director will verify publication of the meeting
notice on the UCR website and distribution to the UCR contact list via
email, followed by subsequent publication of the notice in the Federal
Register.

III. Review and Approval of Board Agenda--UCR Board Chair

For Discussion and Possible Board Action

    The proposed Agenda will be reviewed, and the Board will consider
adoption.
Ground Rules
    [rtarr8]Board actions taken only in designated areas on agenda.

IV. Approval of Minutes of the April 13 UCR Board Meeting--UCR Board
Chair

For Discussion and Possible Board Action

    Draft Minutes from the April 13, 2023, UCR Board meeting will be
reviewed. The Board will consider action to approve.

V. Report of FMCSA--FMCSA Representative

    The Federal Motor Carrier Safety Administration (FMCSA) will
provide a report on relevant activity.

VI. Discussion of Proposed Changes to UCR Agreement--UCR Board Chair,
UCR Board Vice-Chair, UCR Audit Subcommittee Chair, UCR Executive
Director, UCR Chief Legal Officer

    The UCR Board Chair, UCR Board Vice-Chair, UCR Audit Subcommittee
Chair, UCR Executive Director and the UCR Chief Legal Officer will
discuss proposed changes to the UCR Agreement. No Board action will be
taken on any proposed changes at this meeting.

VII. Proposal To Send a Letter to Certain Intrastate Motor Carriers
From Non-Participating States and Rhode Island--UCR Executive Director
and Seikosoft

For Discussion and Possible Board Action

    The UCR Executive Director and a Seikosoft representative will
present proposals to the UCR Board to send a letter to new intrastate
USDOT motor carriers from non-participating states and Rhode Island
that may be engaged in interstate commerce to provide educational
information about UCR and instructions for UCR registration, should
registration be applicable to the motor carrier. The Board may consider
and approve the cost of sending such letters.

VIII. Subcommittee Reports

Audit Subcommittee--UCR Audit Subcommittee Chair

A. Update the Board on the Project To Replace the Retreat Audit Program
With a Program That Relies on Roadside Inspection Data--UCR Audit
Subcommittee Chair, UCR Audit Subcommittee Vice-Chair, DSL
Transportation and Seikosoft Representatives
    The UCR Audit Subcommittee Chair, UCR Audit Subcommittee Vice-Chair
and DSL Transportation and Seikosoft representatives will lead a
discussion on options to replace the Retreat Audit Program currently
utilized by the states with a roadside inspection data driven audit for
non-IRP plated commercial motor vehicles and the motor carriers
operating this type of registered equipment.
B. Update on the Recent Question and Answer Session for State
Auditors--UCR Audit Subcommittee Chair, UCR Audit Subcommittee Vice-
Chair, UCR Executive Director
    The UCR Audit Subcommittee Chair, UCR Audit Subcommittee Vice-Chair
and UCR Executive Director will update the Board on the latest 60-
minute virtual question and answer session conducted

with state auditors and provide the date and possible topics for
discussion regarding the next session.
C. Report to the Board Highlighting the 2022 State Audit Report--UCR
Audit Subcommittee Chair
For Discussion and Possible Board Action
    The UCR Audit Subcommittee Chair will review audit compliance
statistics for the states 2022 registration year regarding FARs,
Retreat Audits and Registration Percentages and the States Unregistered
Bracket 5 and 6 motor carriers. If applicable, the UCR Audit
Subcommittee Chair will recommend to the Board that all non-compliant
states have a representative report to the Board at the next Board
Meeting to outline corrective action measures.
D. Options To Clean Up the Unregistered Motor Carrier UCR Universe in
Shadow MCMIS--UCR Audit Subcommittee Chair, UCR Audit Subcommittee
Vice-Chair, Seikosoft Representative
    The UCR Audit Subcommittee Chair, UCR Audit Subcommittee Vice-Chair
and a Seikosoft representative will lead a discussion on the steps
necessary for the NRS and State Auditors to address the 2022/2023
unregistered motor carrier universe in Shadow MCMIS.

Finance Subcommittee--UCR Finance Subcommittee Chair

Discussion of UCR Investment Policy
    The UCR Finance Subcommittee Chair will provide the Board an update
on the latest developments and market factors regarding the account
structures of UCR Funds.

Education and Training Subcommittee--UCR Education and Training
Subcommittee Chair

Update on Current and Future Training Initiatives
    The Education and Training Subcommittee Chair will provide an
update on current and planned future training initiatives and the E-
Certificate program.

Industry Advisory Subcommittee--UCR Industry Advisory Subcommittee
Chair

Update on Current Initiatives
    The UCR Industry Advisory Subcommittee Chair will provide an update
on current and planned initiatives regarding motor carrier industry
concerns.

Enforcement Subcommittee--UCR Enforcement Subcommittee Chair

Update on Current Initiatives
    The UCR Enforcement Subcommittee Chair will provide an update on
current and planned initiatives.

Dispute Resolution Subcommittee--UCR Dispute Resolution Subcommittee
Chair

Update on Current Initiatives
    The UCR Dispute Resolution Subcommittee Chair will provide an
update on planned initiatives.

IX. Contractor Reports--UCR Board Chair

 UCR Executive Director Report
    The UCR Executive Director will provide a report covering his
recent activity for the UCR Plan.
 DSL Transportation Services, Inc.
    DSL Transportation Services, Inc. will report on the latest data
from the Focused Anomaly Reviews (FARs) program, discuss motor carrier
inspection results, pilot projects and other matters.
 Seikosoft
    Seikosoft will provide an update on recent/new activity related to
the National Registration System (NRS).
 UCR Administrator Report (Kellen)
    The UCR Chief of Staff will provide a management report covering
recent activity for the Depository, Operations, and Communications.

X. Other Business--UCR Board Chair

    The UCR Board Chair will call for any other business, old or new,
from the floor.

XI. Adjournment--UCR Board Chair

    The UCR Board Chair will adjourn the meeting.
    The agenda will be available no later than 5:00 p.m. Eastern time,
May 31, 2023, at: https://plan.ucr.gov.

CONTACT PERSON FOR MORE INFORMATION: Elizabeth Leaman, Chair, Unified
Carrier Registration Plan Board of Directors,<PHONE_NUMBER>,
[email protected].

Alex B. Leath,
Chief Legal Officer, Unified Carrier Registration Plan.
[FR Doc. 2023-12016 Filed 6-1-23; 11:15 am]
BILLING CODE 4910-YL-P


[Federal Register Volume 78, Number 220 (Thursday, November 14, 2013)]
[Notices]
[Page 68460]
[FR Doc No: 2013-27213]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2013-D-0880]

Draft Guidance for Industry on Frequently Asked Questions About
Medical Foods; Second Edition; Reopening of the Comment Period

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice; reopening of the comment period.

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

SUMMARY: The Food and Drug Administration (FDA or we) is reopening the
comment period for the draft guidance for industry entitled
``Frequently Asked Questions About Medical Foods; Second Edition.'' We
are reopening the comment period in response to requests for an
extension to allow interested persons additional time to submit
comments.

DATES: Submit either electronic or written comments by December 16,
2013.

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

FOR FURTHER INFORMATION CONTACT: Shawne Suggs-Anderson, Center for Food
Safety and Applied Nutrition (HFS-850), Food and Drug Administration,
5100 Paint Branch Pkwy., College Park, MD 20740,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

I. Background

    In the Federal Register of August 13, 2013 (78 FR 49271), we
published a notice announcing the availability of an updated draft
guidance for industry entitled ``Frequently Asked Questions About
Medical Foods; Second Edition.'' (We had published earlier versions of
the guidance in May 1997 and May 2007.) The draft guidance, when
finalized, will update some responses to questions that appeared in
earlier versions of the guidance and add new questions and responses
regarding the definition, labeling, and availability of medical foods.
We invited comment on the draft guidance by October 15, 2013.

II. Request for Comments

    Following publication of the August 13, 2013, notice of
availability, we received requests for a 60-day extension of the
comment period. The requesters explained that they needed more time to
review the guidance, develop comments, and assemble data.
    If all of the guidance in the August 13, 2013, version were new, a
reopening of the comment period for 60 additional days might be
warranted. However, much of the draft guidance remains unchanged from
our last revision in 2007. The additional content focuses on FDA's
thinking relating to use of medical foods under supervision by a
physician, whether medical foods should be sold by prescription only,
and types of diseases and conditions that a medical food could be used
to manage. We are, therefore, reopening the comment period for the
draft guidance for an additional 30 days, until December 16, 2013. We
believe that this reopening allows adequate time for interested persons
to submit comments without significantly delaying further FDA action on
this draft guidance. (We initially intended to extend the comment
period, but, due to the lapse in appropriations and resulting cessation
of many government operations from October 1 through October 16, 2013,
we were unable to issue a notice extending the comment period before
October 15, 2013; consequently, we are reopening the comment period for
an additional 30 days.)

III. How To Submit Comments

    Interested persons may submit either electronic comments regarding
the draft guidance to http://www.regulations.gov or written comments to
the Division of Dockets Management (see ADDRESSES). 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.
Received comments may be seen in the Division of Dockets Management
between 9 a.m. and 4 p.m., Monday through Friday, and may be posted to
the docket at http://www.regulations.gov.

    Dated: November 7, 2013.
Leslie Kux,
Assistant Commissioner for Policy.
[FR Doc. 2013-27213 Filed 11-13-13; 8:45 am]
BILLING CODE 4160-01-P


[Federal Register: December 28, 2005 (Volume 70, Number 248)]
[Notices]
[Page 76796]
[DOCID:fr28de05-81]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. ER02-1021-006]

Ontario Energy Trading International Corporation; Notice of
Filing

December 19, 2005.
    Take notice that on December 1, 2005, Ontario Energy Trading
International Corporation (Ontario Energy) tendered for filing
developments constituting a non-material change in status related to
market rate authority. Ontario Energy states this is pursuant to Order
No. 652.
    Any person desiring to intervene or to protest this filing must
file in accordance with Rules 211 and 214 of the Commission's Rules of
Practice and Procedure (18 CFR 385.211, 385.214). Protests will be
considered by the Commission in determining the appropriate action to
be taken, but will not serve to make protestants parties to the
proceeding. Any person wishing to become a party must file a notice of
intervention or motion to intervene, as appropriate. Such notices,
motions, or protests must be filed on or before the comment date.
Anyone filing a motion to intervene or protest must serve a copy of
that document on the Applicant and all the parties in this proceeding.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper using the ``eFiling'' link at http://www.ferc.gov.
 Persons unable to file electronically should submit an

original and 14 copies of the protest or intervention to the Federal
Energy Regulatory Commission, 888 First Street, NE., Washington, DC
20426.
    This filing is accessible on-line at http://www.ferc.gov, using the

``eLibrary'' link and is available for review in the Commission's
Public Reference Room in Washington, DC. There is an ``eSubscription''
link on the Web site that enables subscribers to receive e-mail
notification when a document is added to a subscribed docket(s). For
assistance with any FERC Online service, please e-mail
<EMAIL_ADDRESS>or call<PHONE_NUMBER> (toll free). For

TTY, call<PHONE_NUMBER>.
    Comment Date: 5 p.m. eastern time on December 27, 2005.

Magalie R. Salas,
Secretary.
[FR Doc. E5-7918 Filed 12-27-05; 8:45 am]

BILLING CODE 6717-01-P