[Federal Register: July 13, 2009 (Volume 74, Number 132)]
[Notices]
[Page 33492-33494]
[DOCID:fr13jy09-138]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-60239; File No. SR-FINRA-2009-045]

Self-Regulatory Organizations; Financial Industry Regulatory
Authority, Inc.; Notice of Filing of Proposed Rule Change Relating to
Transaction-Related Charges for Trade Reporting to the OTC Reporting
Facility

July 2, 2009.
    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 July 1, 2009, Financial Industry Regulatory Authority, Inc.
(``FINRA'') (f/k/a National Association of Securities Dealers, Inc.
(``NASD'')) filed with the Securities and Exchange Commission (``SEC''
or ``Commission'') the proposed rule change as described in Items I,
II, and III below. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.

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

    FINRA is proposing to clarify the application of transaction-
related charges for trade reporting to the OTC Reporting Facility
(``ORF'') pursuant to FINRA Rule 7710.
    The text of the proposed rule change is available on FINRA's Web
site at http://www.finra.org, at the principal office of FINRA and at
the Commission's Public Reference Room.

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

    In its filing with the Commission, FINRA included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. FINRA has prepared summaries, set forth in sections A,
B, and C below, of the most significant aspects of such statements.

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

1. Purpose
    The FINRA Rule 7700 Series, among other things, sets forth the
pricing schedule for the ORF, the OTC Bulletin Board, and the Trade
Reporting and Compliance Engine Services. On March 1, 2007, FINRA filed
a proposed rule change (SR-NASD-2007-018) for immediate effectiveness
that deleted certain fee provisions from the FINRA Rule 7700 Series \3\
and amended certain other provisions.\4\ In that filing, NASD Rule
7010(g) was renumbered as NASD Rule 7010, renamed, and amended to apply
only to the ORF.\5\ The amendments became operative on March 5,
2007.\6\ As FINRA stated in the filing, the amendments made to the rule
language were not intended to modify any of the charges relating to the
ORF.
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    \3\ At the time of the rule filing, the FINRA Rule 7700 Series
was the NASD Rule 7000 Series. The NASD Rule 7000 Series was
renumbered as the FINRA Rule 7700 Series in 2008. See Securities
Exchange Act Release No. 58643 (September 25, 2008), 73 FR 57174
(October 1, 2008); see also FINRA Regulatory Notice 08-57 (October
2008).
    \4\ See Securities Exchange Act Release No. 55538 (March 27,
2007), 72 FR 15924 (April 3, 2007) (Notice of Filing and Immediate
Effectiveness of SR-NASD-2007-018).
    \5\ NASD Rule 7010 was later renumbered as FINRA Rule 7710. See
Securities Exchange Act Release No. 58643 (September 25, 2008), 73
FR 57174 (October 1, 2008).
    \6\ See Securities Exchange Act Release No. 55538 (March 27,
2007), 72 FR 15924 (April 3, 2007) (Notice of Filing and Immediate
Effectiveness of SR-NASD-2007-018).
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    Although there was no intent to modify any charges in connection
with reporting transactions to the ORF, the rule language, as amended
by SR-NASD-2007-018, omitted some securities from the rule because of
the definition of ``OTC Equity Security'' in FINRA Rule 6420. The
previous rule, NASD Rule 7010(g), included a catch-all provision that
applied a charge of $0.029/side to the ``reporting of all other
transactions not subject to comparison.'' This language included, for
example, PORTAL equity securities, which are reported to the ORF
pursuant to the PORTAL rules in the FINRA Rule 6630 Series. The term
``OTC Equity Security,'' however, specifically excludes PORTAL
securities and restricted securities from the definition.\7\ Thus, by
using the defined term ``OTC Equity Security'' from March 5, 2007,
until June 17, 2009, PORTAL equity securities were inadvertently
omitted from the scope of the rule language.\8\
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    \7\ See FINRA Rule 6420(c), (d).
    \8\ On June 17, 2009, FINRA filed a proposed rule change for
immediate effectiveness that deleted the reference to OTC Equity
Securities in the rule. See Securities Exchange Act Release No.
60168 (June 24, 2009), 74 FR 31471 (July 1, 2009).
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    The proposed rule change deletes the prior reference to ``OTC
Equity Security'' in FINRA Rule 7710 to clarify that, from March 5,
2007, until June 17, 2009, the transaction reporting charges imposed
pursuant to the rule applied to the reporting of transactions in any
security, not just OTC Equity Securities, to the ORF that were not
subject to comparison through the ORF.
    FINRA is proposing that the operative date of the proposed rule
change be retroactive from March 5, 2007, to June 17, 2009.
2. Statutory Basis
    FINRA believes that the proposed rule change is consistent with the
provisions of Section 15A(b)(5) of the Act,\9\ which requires, among
other things, that FINRA rules provide for the equitable allocation of
reasonable dues, fees and other charges among members and issuers and
other persons using any facility or system that FINRA operates or
controls. FINRA believes that the proposed rule change clarifies the
charges that were assessed with respect to transactions that were
reported to the ORF from March 5, 2007, until June 17, 2009, and
correctly reflects FINRA's intent when it amended the rule in SR-NASD-
2007-018.
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    \9\ 15 U.S.C. 78o-3(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    FINRA 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.

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

    Within 35 days of the date of publication of this notice in the
Federal Register or within such longer period (i) as the Commission may
designate up to 90 days of such date if it finds such longer period to
be appropriate and publishes its reasons for so finding or (ii) as to
which the self-regulatory organization consents, the Commission will:
    (A) By order approve such proposed rule change, or
    (B) Institute proceedings to determine whether the proposed rule
change should be disapproved.

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 e-mail to<EMAIL_ADDRESS>Please include
File Number SR-FINRA-2009-045 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-FINRA-2009-045. This
file number should be included on the subject line if e-mail 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 inspection and copying in the Commission's Public
Reference Room, 100 F Street, NE., Washington, DC 20549, on official
business days between the hours of 10 a.m. and 3 p.m. Copies of such
filing also will be available for inspection and copying at the
principal office of FINRA. 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 publicly available. All submissions should refer to File Number
SR-FINRA-2009-045 and should be submitted on or before August 3, 2009.
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    \10\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
Elizabeth M. Murphy,
Secretary.
[FR Doc. E9-16448 Filed 7-10-09; 8:45 am]

BILLING CODE 8010-01-P


[Federal Register Volume 81, Number 107 (Friday, June 3, 2016)]
[Notices]
[Pages 35814-35815]
[FR Doc No: 2016-13142]

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 DEPARTMENT OF TRANSPORTATION

Federal Railroad Administration

[Docket Number FRA 2016-0002-N-15]

Proposed Agency Information Collection Activities; Comment
Request

AGENCY: Federal Railroad Administration (FRA), U.S. Department of
Transportation (DOT).

ACTION: Notice and request for comments.

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SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (PRA)
and its implementing regulations, FRA seeks the Office of Management
and Budget's (OMB) approval of the proposed information collection
activities abstracted below. However, before submitting this proposed
information collection request (ICR) to OMB, FRA is soliciting public
comment on specific aspects of the activities identified below.

DATES: Comments must be received no later than August 2, 2016.

ADDRESSES: Submit written comments on any or all of the information
activities described in this notice by mail to either Mr. Robert
Brogan, Information Collection Clearance Officer, Office of Railroad
Safety, Regulatory Safety Analysis Division, RRS-21, FRA, 1200 New
Jersey Avenue SE., Mail Stop 25, Washington, DC 20590; or Ms. Kimberly
Toone, Information Collection Clearance Officer, Office of Information
Technology, RAD-20, FRA, 1200 New Jersey Avenue SE., Mail Stop 35,
Washington, DC 20590. Commenters requesting that FRA acknowledge
receipt of their respective comments must include a self-addressed
stamped postcard stating, ``Comments on OMB Control Number 2130-New,''
and should also include the title of the collection of information.
Alternatively, comments may be faxed to<PHONE_NUMBER> or (202) 493-
6497, or emailed to Mr. Brogan at<EMAIL_ADDRESS>or Ms. Toone
at<EMAIL_ADDRESS>Please refer to the assigned OMB control
number in any correspondence submitted. FRA will summarize comments
received in response to this notice in a subsequent notice and include
them in its information collection submission to OMB for approval.

FOR FURTHER INFORMATION CONTACT: Mr. Robert Brogan, at<PHONE_NUMBER>,
or Ms. Kimberly Toone, at<PHONE_NUMBER>. These telephone numbers are
not toll-free.

SUPPLEMENTARY INFORMATION: The PRA, 44 U.S.C. 3501-3520, and its
implementing regulations, 5 Code of Federal Regulations (CFR) part
1320, Rulemaking Procedures, require Federal agencies to provide 60
days' notice to the public for comment on information collection
activities before seeking OMB approval. See 44 U.S.C. 3506(c)(2)(A); 5
CFR 1320.8(d)(1), 1320.10(e)(1), and 1320.12(a). Specifically, FRA
invites interested respondents to comment on the following summary of
proposed information collection activities regarding: (1) Whether the
information collection activities are necessary for FRA to properly
execute its functions, including whether the activities will have
practical utility; (2) the accuracy of FRA's estimates of the burden of
the information collection activities, including the validity of the
methodology and assumptions used to determine the estimates; (3) ways
FRA can enhance the quality, utility, and clarity of the information
being collected; and (4) ways FRA can minimize the burden of
information collection activities on the public by automated,
electronic, mechanical, or other technological collection techniques or
other forms of information technology (e.g., permitting electronic
submission of responses). See 44 U.S.C. 3506(c)(2)(A); 5 CFR
1320.8(d)(1).
    FRA believes soliciting public comment will promote its efforts to
reduce the administrative and paperwork burdens associated with the
collection of information Federal regulations mandate, including: (1)
Reducing reporting burdens; (2) organizing information collection
requirements in a ``user friendly'' format to improve the use of such
information; and (3) accurately assessing the resources expended to
retrieve and produce information requested. See 44 U.S.C. 3501.
    Below is a brief summary of the proposed ICR that FRA will submit
for OMB approval as required under the PRA:
    Title: Survey of Plant and Insular Tourist Railroads subject to FRA
Bridge Safety Standards (Title 49 CFR part 237).
    OMB Control Number: 2130-New.
    Abstract: FRA Bridge Safety Standards regulations (49 CFR part 237)
require all owners of railroad track with a gage of 2 feet or more
supported by a bridge to comply with this part. This includes track
owners with bridges located within an industrial installation (plant)
that is not part of the general railroad system of transportation
(general system) but over which railroad equipment is moved by a
general system

railroad. To identify track owners subject to the requirements of part
237, Bridge Safety Standards, FRA relies on the railroad accident/
incident reports (49 CFR part 225) to be filed monthly. However, plant
and insular tourist railroads are exempt from the part 225, Railroad
Accidents/Incidents: Reports Classification, and Investigations,
reporting requirements.
    FRA will request any railroad serving a plant and moving railroad
equipment over bridges within the plant, or the plant itself, to advise
FRA by email that there are railroad bridges within the installation
potentially subject to FRA Bridge Safety Standards. FRA will also
request insular tourist railroads, whose tracks are supported by one or
more bridges, to advise FRA of their existence by email. The email
notification should include the name of the installation or insular
tourist railroad, address including city and State, contact name,
telephone number, and email address. This survey will be ongoing with
initial approval requested for 3 years.
    FRA desires to identify plant and insular tourist railroads that
may be subject to part 237 requirements, but are exempt from the part
225 reporting requirement to analyze risks these entities pose to
railroad bridge safety and aid in planning bridge safety oversight
activities and allocating resources.
    Affected Public: Freight railroads, industrial installations
(plants), insular tourist railroads.
    Respondent Universe: 689 railroads, 500 industrial installations
(estimated), 20 insular tourist railroads (estimated).
    Frequency of Submission: On occasion.
    Reporting Burden:

----------------------------------------------------------------------------------------------------------------
                                                                   Total annual    Average time
              CFR section                  Respondent universe       responses     per response    Total annual
                                                                     (emails)        (minutes)     burden hours
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Notification of Industrial              Railroads, Industrial                200              15              50
 Installations potentially subject to    Installations.
 part 237.
Notification of Insular Tourist         Insular Tourist                       10              15             2.5
 Railroads subject to part 237.          Railroads.
----------------------------------------------------------------------------------------------------------------

    Total Responses: 210.
    Estimated Total Annual Burden: 53 hours.
    Type of Request: Approval of a new information collection.
    Status: Regular Review.
    Under 44 U.S.C. 3507(a) and 5 CFR 1320.5(b) and 1320.8(b)(3)(vi),
FRA informs all interested parties that FRA may not conduct or sponsor,
and a respondent is not required to respond to, a collection of
information unless it displays a currently valid OMB control number.

    Authority:  44 U.S.C. 3501-3520.

    Issued in Washington, DC, on May 31, 2016.
Corey Hill,
Executive Director.
[FR Doc. 2016-13142 Filed 6-2-16; 8:45 am]
 BILLING CODE 4910-06-P


[Federal Register Volume 78, Number 170 (Tuesday, September 3, 2013)]
[Notices]
[Pages 54294-54298]
[FR Doc No: 2013-21347]

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SECURITIES AND EXCHANGE COMMISSION

Investment Company Act Release No. 30679; File No. 812-14167

Franklin Templeton International Trust, et al.; Notice of
Application

August 27, 2013.
AGENCY: Securities and Exchange Commission (``Commission'').

ACTION: Notice of an application under section 6(c) of the Investment
Company Act of 1940 (``Act'') for an exemption from section 15(a) of
the Act and rule 18f-2 under the Act, as well as from certain
disclosure requirements.

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Summary of Application: Applicants request an order that would permit
them

to enter into and materially amend subadvisory agreements with Wholly-
Owned Sub-Advisors (as defined below) and non-affiliated sub-advisors
without shareholder approval and would grant relief from certain
disclosure requirements. The requested order would supersede a prior
order that granted relief to certain of the applicants solely with
respect to Wholly-Owned Sub-Advisors and did not grant relief from
certain disclosure requirements.\1\
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    \1\ Franklin Advisers, Inc. and Franklin Templeton International
Trust, Investment Company Act Release Nos. 30105 (Jun. 18, 2012)
(notice) and 30138 (Jul. 17, 2012) (order).

Applicants: Franklin Templeton International Trust, Franklin Templeton
Variable Insurance Products Trust, Templeton Income Trust, Templeton
Global Investment Trust, Franklin Alternative Strategies Funds (each, a
``Trust'' and together, the ``Trusts''); and K2/D&S Management Co.,
L.L.C. (``K2 Advisors''), Templeton Asset Management Ltd. (``TAML'')
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and Franklin Advisers, Inc. (``FAV'') (each a ``Manager'').

Filing Dates: The application was filed on June 13, 2013, and amended
on August 27, 2013.

Hearing or Notification of Hearing: An order granting the application
will be issued unless the Commission orders a hearing. Interested
persons may request a hearing by writing to the Commission's Secretary
and serving applicants with a copy of the request, personally or by
mail. Hearing requests should be received by the Commission by 5:30
p.m. on September 23, 2013, and should be accompanied by proof of
service on applicants, in the form of an affidavit or, for lawyers, a
certificate of service. Hearing requests should state the nature of the
writer's interest, the reason for the request, and the issues
contested. Persons who wish to be notified of a hearing may request
notification by writing to the Commission's Secretary.

ADDRESSES: Elizabeth M. Murphy, Secretary, U.S. Securities and Exchange
Commission, 100 F Street NE., Washington, DC 20549-1090. Applicants,
One Franklin Parkway, San Mateo, CA 94403-1906.

FOR FURTHER INFORMATION CONTACT: Jean E. Minarick, Senior Counsel, at
(202) 551-6811, or Mary Kay Frech, Branch Chief, at<PHONE_NUMBER>
(Division of Investment Management, Exemptive Applications Office).

SUPPLEMENTARY INFORMATION: The following is a summary of the
application. The complete application may be obtained via the
Commission's Web site by searching for the file number or an applicant
using the Company name box, at http://www.sec.gov/search/search.htm or
by calling<PHONE_NUMBER>.

Applicants' Representations

    1. Each Trust is organized as a Delaware statutory trust and is
registered under the Act as an open-end management investment company.
Each Trust currently offers at least one series of shares (each, a
``Series'') with its own distinct investment objectives, policies and
restrictions that is authorized to operate under a multi-manager
structure. FAV is a California corporation and TAML is a Singapore
company, and each is registered as an investment adviser under the
Investment Advisers Act of 1940 (``Advisers Act''). FAV and TAML are
wholly-owned direct or indirect subsidiaries of Franklin Resources.
Franklin Resources is a global investment management organization
operating as Franklin Templeton Investments and is engaged primarily,
through various subsidiaries, in providing investment management, share
distribution, transfer agent and administrative services to a family of
registered funds. K2 Advisors, a Delaware limited liability company, is
registered as an investment adviser under the Advisers Act. K2 Advisors
is a wholly-owned subsidiary of K2 Advisors Holdings, LLC, of which
Franklin Resources owns a majority stake.\2\
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    \2\ Applicants request that the relief apply to applicants, as
well as to any future Series and any other existing or future
registered open-end management investment company or series thereof
that is advised by a Manager, uses the multi-manager structure
described in the application, and complies with the terms and
conditions of the application (``Subadvised Series''). All
registered open-end investment companies that currently intend to
rely on the requested order are named as applicants. All Series that
currently are, or that currently intend to rely on the requested
order are named as applicants. Any entity that relies on the
requested order will do so only in accordance with the terms and
conditions contained in the application. If the name of any
Subadvised Series contains the name of a Sub-Advisor (as defined
below), the name of the Manager that serves as the primary adviser
to the Subadvised Series, or a trademark or trade name that is owned
by or publicly used to identify that Manager, will precede the name
of the Sub-Advisor.
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    2. Each Series has, or will have, as its investment adviser, a
Manager, or another investment adviser controlling, controlled by or
under common control with any Manager or its successors (each, a
``Manager'').\3\ A Manager serves as the investment adviser to each
Series pursuant to an investment advisory agreement with the relevant
Trust (``Investment Management Agreement'). The Investment Management
Agreement for each existing Series was approved by the board of
trustees of the Trust (``Board''),\4\ including a majority of the
members of the Board who are not ``interested persons,'' as defined in
section 2(a)(19) of the Act, of the Series or the Manager
(``Independent Board Members'') and by the shareholders of the relevant
Series as required by sections 15(a) and 15(c) of the Act and rule 18f-
2 thereunder. The terms of these Investment Management Agreements
comply with section 15(a) of the Act. Each other Investment Management
Agreement will comply with section 15(a) of the Act and will be
similarly approved.
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    \3\ Each Manager is, or will be, registered with the Commission
as an investment adviser under the Advisers Act. For purposes of the
requested order, ``successor'' is limited to an entity that results
from a reorganization into another jurisdiction or a change in the
type of business organization.
    \4\ The term ``Board'' also includes the board of trustees or
directors of a future Subadvised Series.
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    3. Under the terms of each Investment Management Agreement, the
Manager, subject to the supervision of the Board, provides continuous
investment management of the assets of each Series. The Manager
periodically reviews a Series' investment policies and strategies, and
based on the need of a particular Series may recommend changes to the
investment policies and strategies of the Series for consideration by
the Board. For its services to each Series under the applicable
Investment Management Agreement, the Manager receives an investment
management fee from that Series. Each Investment Management Agreement
provides that the Manager may, subject to the approval of the Board,
including a majority of the Independent Board Members, and the
shareholders of the applicable Subadvised Series (if required),
delegate portfolio management responsibilities of all or a portion of
the assets of a Subadvised Series to one or more Sub-Advisors.\5\
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    \5\ A ``Sub-Advisor'' is (a) an indirect or direct ``wholly-
owned subsidiary'' (as such term is defined in the Act) of the
Manager for that Series; (b) a sister company of the Manager for
that Series that is an indirect or direct ``wholly-owned
subsidiary'' (as such term is defined in the Act) of the same
company that, indirectly or directly, wholly owns the Manager (each
of (a) and (b), a ``Wholly-Owned Sub-Advisor'' and collectively, the
``Wholly-Owned Sub-Advisors''), or (c) an investment sub-advisor for
that Series that is not an ``affiliated person'' (as such term is
defined in section 2(a)(3) of the Act) of the Series or the Manager,
except to the extent that an affiliation arises solely because the
sub-advisor serves as a sub-advisor to a Series (each, a ``Non-
Affiliated Sub-Advisor'').
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    4. Applicants request an order to permit the Manager, subject to
the approval of the Board, including a

majority of the Independent Board Members, to, without obtaining
shareholder approval: (i) select Sub-Advisors to manage all or a
portion of the assets of a Series and enter into Sub-Advisory
Agreements (as defined below) with the Sub-Advisors, and (ii)
materially amend Sub-Advisory Agreements with the Sub-Advisors.\6\ The
requested relief will not extend to any sub-advisor, other than a
Wholly-Owned Sub-Advisor, who is an affiliated person, as defined in
section 2(a)(3) of the Act, of the Subadvised Series or of the Manager,
other than by reason of serving as a sub-advisor to one or more of the
Subadvised Series (``Affiliated Sub-Advisor'').
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    \6\ Shareholder approval will continue to be required for any
other sub-advisor change (not otherwise permitted by rule or other
action of the Commission or staff) and material amendments to an
existing Sub-Advisory Agreement with any sub-advisor other than a
Non-Affiliated Sub-Advisor or a Wholly-Owned Sub-Advisor (all such
changes referred to as ``Ineligible Sub-Advisor Changes'').
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    5. Pursuant to each Investment Management Agreement, the Manager
has overall responsibility for the management and investment of the
assets of each Subadvised Series. These responsibilities include
recommending the removal or replacement of Sub-Advisors, determining
the portion of that Subadvised Series' assets to be managed by any
given Sub-Advisor and reallocating those assets as necessary from time
to time.
    6. Each Manager may enter, and certain Managers have entered, into
sub-advisory agreements with various Sub-Advisors (``Sub-Advisory
Agreements'') to provide investment management services to the
Subadvised Series. The terms of each Sub-Advisory Agreement comply
fully with the requirements of section 15(a) of the Act and were, or
will be, approved by the Board, including a majority of the Independent
Board Members and the initial shareholder of the applicable Subadvised
Series, in accordance with sections 15(a) and 15(c) of the Act and rule
18f-2 thereunder. The Sub-Advisors, subject to the supervision of the
Manager and oversight of the Board, determine the securities and other
investments to be purchased or sold by a Subadvised Series and place
orders with brokers or dealers that they select. The Manager will
compensate each Sub-Advisor out of the fee paid to the Advisor under
the relevant Investment Management Agreement.
    7. Subadvised Series will inform shareholders of the hiring of a
new Sub-Advisor pursuant to the following procedures (``Modified Notice
and Access Procedures''): (a) within 90 days after a new Sub-Advisor is
hired for any Subadvised Series, that Subadvised Series will send its
shareholders either a Multi-manager Notice or a Multi-manager Notice
and Multi-manager Information Statement; \7\ and (b) the Subadvised
Series will make the Multi-manager Information Statement available on
the Web site identified in the Multi-manager Notice no later than when
the Multi-manager Notice (or Multi-manager Notice and Multi-manager
Information Statement) is first sent to shareholders, and will maintain
it on that Web site for at least 90 days. In the circumstances
described in the application, a proxy solicitation to approve the
appointment of new Sub-Advisors provides no more meaningful information
to shareholders than the proposed Multi-manager Information Statement.
Applicants state that each Board would comply with the requirements of
sections 15(a) and 15(c) of the Act before entering into or amending
Sub-Advisory Agreements.
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    \7\ A ``Multi-manager Notice'' will be modeled on a Notice of
Internet Availability as defined in rule 14a-16 under the Securities
Exchange Act of 1934 (``Exchange Act''), and specifically will,
among other things: (a) Summarize the relevant information regarding
the new Sub-Advisor (except as modified to permit Aggregate Fee
Disclosure (as defined below); (b) inform shareholders that the
Multi-manager Information Statement is available on a Web site; (c)
provide the Web site address; (d) state the time period during which
the Multi-manager Information Statement will remain available on
that Web site; (e) provide instructions for accessing and printing
the Multi-manager Information Statement; and (f) instruct the
shareholder that a paper or email copy of the Multi-manager
Information Statement may be obtained, without charge, by contacting
the Subadvised Series.
    A ``Multi-manager Information Statement'' will meet the
requirements of Regulation 14C, Schedule 14C and Item 22 of Schedule
14A under the Exchange Act for an information statement, except as
modified by the order to permit Aggregate Fee Disclosure. Multi-
manager Information Statements will be filed with the Commission via
the EDGAR system.
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    8. Applicants also request an order exempting the Subadvised Series
from certain disclosure obligations that may require each Subadvised
Series to disclose fees paid by the Manager to each Sub-Advisor.
Applicants seek relief to permit each Subadvised Series to disclose (as
a dollar amount and a percentage of the Subadvised Series' net assets):
(a) The aggregate fees paid to the Manager and any Wholly-Owned Sub-
Advisors; (b) the aggregate fees paid to Non-Affiliated Sub-Advisors;
and (c) the fee paid to each Affiliated Sub-Advisor (collectively, the
``Aggregate Fee Disclosure'').

Applicants' Legal Analysis

    1. Section 15(a) of the Act states, in part, that it is unlawful
for any person to act as an investment adviser to a registered
investment company ``except pursuant to a written contract, which
contract, whether with such registered company or with an investment
adviser of such registered company, has been approved by the vote of a
majority of the outstanding voting securities of such registered
company.'' Rule 18f-2 under the Act provides that each series or class
of stock in a series investment company affected by a matter must
approve that matter if the Act requires shareholder approval.
    2. Form N-1A is the registration statement used by open-end
investment companies. Item 19(a)(3) of Form N-1A requires a registered
investment company to disclose in its statement of additional
information the method of computing the ``advisory fee payable'' by the
investment company, including the total dollar amounts that the
investment company ``paid to the adviser (aggregated with amounts paid
to affiliated advisers, if any), and any advisers who are not
affiliated persons of the adviser, under the investment advisory
contract for the last three fiscal years.''
    3. Rule 20a-1 under the Act requires proxies solicited with respect
to a registered investment company to comply with Schedule 14A under
the Exchange Act. Items 22(c)(1)(ii), 22(c)(1)(iii), 22(c)(8) and
22(c)(9) of Schedule 14A, taken together, require a proxy statement for
a shareholder meeting at which the advisory contract will be voted upon
to include the ``rate of compensation of the investment adviser,'' the
``aggregate amount of the investment adviser's fee,'' a description of
the ``terms of the contract to be acted upon,'' and, if a change in the
advisory fee is proposed, the existing and proposed fees and the
difference between the two fees.
    4. Regulation S-X sets forth the requirements for financial
statements required to be included as part of a registered investment
company's registration statement and shareholder reports filed with the
Commission. Sections 6-07(2)(a), (b), and (c) of Regulation S-X require
a registered investment company to include in its financial statement
information about the investment advisory fees.
    5. Section 6(c) of the Act provides that the Commission by order
upon application may conditionally or unconditionally exempt any
person, security, or transaction or any class or classes of persons,
securities, or transactions from any provisions of the Act, or from any
rule thereunder, if such exemption is necessary or appropriate in the
public interest and consistent

with the protection of investors and the purposes fairly intended by
the policy and provisions of the Act. Applicants state that their
requested relief meets this standard for the reasons discussed below.
    6. Applicants assert that the shareholders expect the Manager,
subject to the review and approval of the Board, to select the Sub-
Advisors who are in the best position to achieve the Subadvised Series'
investment objective. Applicants assert that, from the perspective of
the shareholder, the role of the Sub-Advisors is substantially
equivalent to the role of the individual portfolio managers employed by
an investment adviser to a traditional investment company. Applicants
believe that permitting the Manager to perform the duties for which the
shareholders of the Subadvised Series are paying the Manager--the
selection, supervision and evaluation of the Sub-Advisors--without
incurring unnecessary delays or expenses is appropriate in the interest
of the Subadvised Series' shareholders and will allow such Subadvised
Series to operate more efficiently. Applicants state that each
Investment Management Agreement will continue to be fully subject to
section 15(a) of the Act and rule 18f-2 under the Act and approved by
the Board, including a majority of the Independent Board Members, in
the manner required by sections 15(a) and 15(c) of the Act. Applicants
are not seeking an exemption with respect to the Investment Management
Agreements.
    7. Applicants assert that disclosure of the individual fees that
the Manager would pay to the Sub-Advisors of Subadvised Series that
operate under the multi-manager structure described in the application
would not serve any meaningful purpose. Applicants contend that the
primary reasons for requiring disclosure of individual fees paid to
Sub-Advisors are to inform shareholders of expenses to be charged by a
particular Subadvised Series and to enable shareholders to compare the
fees to those of other comparable investment companies. Applicants
believe that the requested relief satisfies these objectives because
the advisory fee paid to the Manager will be fully disclosed and,
therefore, shareholders will know what the Subadvised Series' fees and
expenses are and will be able to compare the advisory fees a Subadvised
Series is charged to those of other investment companies. Applicants
assert that the requested disclosure relief would benefit shareholders
of the Subadvised Series because it would improve the Manager's ability
to negotiate the fees paid to Sub-Advisors. Applicants state that the
Manager may be able to negotiate rates that are below a Sub-Advisor's
``posted'' amounts if the Manager is not required to disclose the Sub-
Advisors' fees to the public. Applicants submit that the relief
requested to use Aggregate Fee Disclosure will encourage Sub-Advisors
to negotiate lower subadvisory fees with the Manager if the lower fees
are not required to be made public.
    8. For the reasons discussed above, applicants submit that the
requested relief meets the standards for relief under section 6(c) of
the Act. Applicants state that the operation of the Subadvised Series
in the manner described in the application must be approved by
shareholders of a Subadvised Series before that Subadvised Series may
rely on the requested relief. In addition, applicants state that the
proposed conditions to the requested relief are designed to address any
potential conflicts of interest, including any posed by the use of
Wholly-Owned Sub-Advisors, and provide that shareholders are informed
when new Sub-Advisors are hired. Applicants assert that conditions 6,
10 and 11 are designed to provide the Board with sufficient
independence and the resources and information it needs to monitor and
address any conflicts of interest with affiliated persons of the
Manager, including Wholly-Owned Sub-Advisors. Applicants state that,
accordingly, they believe the requested relief is necessary or
appropriate in the public interest and consistent with the protection
of investors and the purposes fairly intended by the policy and
provisions of the Act.

Applicants' Conditions

    Applicants agree that any order granting the requested relief will
be subject to the following conditions: \8\
---------------------------------------------------------------------------

    \8\ Applicants will only comply with conditions 7, 8, 9 and 12
if they rely on the relief that would allow them to provide
Aggregate Fee Disclosure.
---------------------------------------------------------------------------

    1. Before a Subadvised Series may rely on the order requested in
the application, the operation of the Subadvised Series in the manner
described in the application, including the hiring of Wholly-Owned Sub-
Advisors, will be, or has been, approved by a majority of the
Subadvised Series' outstanding voting securities as defined in the Act,
or, in the case of a new Subadvised Series whose public shareholders
purchase shares on the basis of a prospectus containing the disclosure
contemplated by condition 2 below, by the sole initial shareholder
before offering the Subadvised Series' shares to the public.
    2. The prospectus for each Subadvised Series will disclose the
existence, substance, and effect of any order granted pursuant to the
application. Each Subadvised Series will hold itself out to the public
as employing the multi-manager structure described in the application.
Each prospectus will prominently disclose that the Manager has the
ultimate responsibility, subject to oversight by the Board, to oversee
the Sub-Advisors and recommend their hiring, termination and
replacement.
    3. The Manager will provide general management services to a
Subadvised Series, including overall supervisory responsibility for the
general management and investment of the Subadvised Series' assets.
Subject to review and approval of the Board, the Manager will (a) set a
Subadvised Series' overall investment strategies, (b) evaluate, select,
and recommend Sub-Advisors to manage all or a portion of a Subadvised
Series' assets, and (c) implement procedures reasonably designed to
ensure that Sub-Advisors comply with a Subadvised Series' investment
objective, policies and restrictions. Subject to review by the Board,
the Manager will (a) when appropriate, allocate and reallocate a
Subadvised Series' assets among multiple Sub-Advisors; and (b) monitor
and evaluate the performance of Sub-Advisors.
    4. A Subadvised Series will not make any Ineligible Sub-Advisor
Changes without the approval of the shareholders of the applicable
Subadvised Series.
    5. Subadvised Series will inform shareholders of the hiring of a
new Sub-Advisor within 90 days after the hiring of the new Sub-Advisor
pursuant to the Modified Notice and Access Procedures.
    6. At all times, at least a majority of the Board will be
Independent Board Members, and the selection and nomination of new or
additional Independent Board Members will be placed within the
discretion of the then-existing Independent Board Members.
    7. Independent Legal Counsel, as defined in rule 0-1(a)(6) under
the Act, will be engaged to represent the Independent Board Members.
The selection of such counsel will be within the discretion of the
then-existing Independent Board Members.
    8. The Manager will provide the Board, no less frequently than
quarterly, with information about the profitability of the Manager on a
per Subadvised Series basis. The information will reflect the impact on
profitability of the hiring

or termination of any sub-advisor during the applicable quarter.
    9. Whenever a sub-advisor is hired or terminated, the Manager will
provide the Board with information showing the expected impact on the
profitability of the Manager.
    10. Whenever a sub-advisor change is proposed for a Subadvised
Series with an Affiliated Sub-Advisor or a Wholly-Owned Sub-Advisor,
the Board, including a majority of the Independent Board Members, will
make a separate finding, reflected in the Board minutes, that such
change is in the best interests of the Subadvised Series and its
shareholders, and does not involve a conflict of interest from which
the Manager or the Affiliated Sub-Advisor or Wholly-Owned Sub-Advisor
derives an inappropriate advantage.
    11. No Board member or officer of a Subadvised Series, or director
or officer of the Manager, will own directly or indirectly (other than
through a pooled investment vehicle that is not controlled by such
person), any interest in a Sub-Advisor, except for (a) ownership of
interests in the Manager or any entity, other than a Wholly-Owned Sub-
Advisor, that controls, is controlled by, or is under common control
with the Manager, or (b) ownership of less than 1% of the outstanding
securities of any class of equity or debt of a publicly traded company
that is either a Sub-Advisor or an entity that controls, is controlled
by, or is under common control with a Sub-Advisor.
    12. Each Subadvised Series will disclose the Aggregate Fee
Disclosure in its registration statement.
    13. In the event the Commission adopts a rule under the Act
providing substantially similar relief to that requested in the
application, the requested order will expire on the effective date of
that rule.

    For the Commission, by the Division of Investment Management,
under delegated authority.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-21347 Filed 8-30-13; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 76, Number 9 (Thursday, January 13, 2011)]
[Notices]
[Pages 2369-2370]
[FR Doc No: 2011-541]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Notice of Staff Attendance at Southwest Power Pool Markets and
Operation Policy Committee and Strategic Planning Committee Meetings

January 5, 2011.
    The Federal Energy Regulatory Commission hereby gives notice that
members of its staff may attend the meetings of the Southwest Power
Pool, Inc. (SPP) Markets and Operations Policy Committee (MOPC) and the
Strategic Planning Committee (SPC), as noted below. Their attendance is
part of the Commission's ongoing outreach efforts.

SPP MOPC

January 11, 2011 (1 p.m.-5 p.m.), January 12, 2011 (8 a.m.-3 p.m.),
Doubletree Hotel, 300 Canal Street, New Orleans, LA 70130. 504-581-
1300.

SPP SPC

January 13, 2011 (8 a.m.-3 p.m.), Doubletree Hotel, 300 Canal Street,
New Orleans, LA 70130.<PHONE_NUMBER>.

    The discussions may address matters at issue in the following
proceedings:

Docket No. ER06-451, Southwest Power Pool, Inc.
Docket No. ER08-1419, Southwest Power Pool, Inc.
Docket No. ER09-35, Tallgrass Transmission LLC.
Docket No. ER09-36, Prairie Wind Transmission LLC.
Docket No. ER09-659, Southwest Power Pool, Inc.
Docket No. ER09-1050, Southwest Power Pool, Inc.
Docket No. OA08-61, Southwest Power Pool, Inc.
Docket No. OA08-104, Southwest Power Pool, Inc.
Docket No. ER10-659, Southwest Power Pool, Inc
Docket No. ER10-696, Southwest Power Pool, Inc.
Docket No. ER10-941, Southwest Power Pool, Inc.
Docket No. ER10-1069, Southwest Power Pool, Inc.
Docket No. ER10-1254, Southwest Power Pool, Inc.
Docket No. ER10-1269, Southwest Power Pool, Inc.
Docket No. ER10-1697, Southwest Power Pool, Inc.
Docket No. ER10-1960, Southwest Power Pool, Inc.
Docket No. ER10-2244, Southwest Power Pool, Inc.
Docket No. ER11-13, Southwest Power Pool, Inc.
Docket No. ER11-2071, Southwest Power Pool, Inc.
Docket No. ER11-2101, Southwest Power Pool, Inc.
Docket No. ER11-2103, Southwest Power Pool, Inc.
Docket No. ER11-2188, Southwest Power Pool, Inc.
Docket No. ER11-2190, Southwest Power Pool, Inc.
Docket No. ER11-2194, Southwest Power Pool, Inc.
Docket No. ER11-2198, Southwest Power Pool, Inc.
Docket No. ER11-2103, Southwest Power Pool, Inc.
Docket No. ER11-2188, Southwest Power Pool, Inc.
Docket No. ER11-2190, Southwest Power Pool, Inc.
Docket No. ER11-2194, Southwest Power Pool, Inc.
Docket No. ER11-2198, Southwest Power Pool, Inc.
Docket No. ER11-2205, Southwest Power Pool, Inc.
Docket No. ER11-2220, Southwest Power Pool, Inc.
Docket No. ER11-2291, Southwest Power Pool, Inc.
Docket No. ER11-2303, Southwest Power Pool, Inc.
Docket No. ER11-2308, Southwest Power Pool, Inc.
Docket No. ER11-2309, Southwest Power Pool, Inc.
Docket No. ER11-2315, Southwest Power Pool, Inc.
Docket No. ER11-2317, Southwest Power Pool, Inc.
Docket No. ER11-2345, Southwest Power Pool, Inc.

Docket No. ER11-2385, Southwest Power Pool, Inc.
Docket No. ER11-2401, Southwest Power Pool, Inc.
Docket No. ER11-2415, Southwest Power Pool, Inc.
Docket No. ER11-2425, Southwest Power Pool, Inc.
Docket No. ER11-2428, Southwest Power Pool, Inc.
Docket No. ER11-2525, Southwest Power Pool, Inc.
Docket No. ER11-2528, Southwest Power Pool, Inc.
Docket No. ER11-2619, Southwest Power Pool, Inc.

    These meetings are open to the public.
    For more information, contact Patrick Clarey, Office of Energy
Market Regulation, Federal Energy Regulatory Commission at (317) 249-
5937 or<EMAIL_ADDRESS>
Kimberly D. Bose,
Secretary.
[FR Doc. 2011-541 Filed 1-12-11; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 88, Number 129 (Friday, July 7, 2023)]
[Proposed Rules]
[Pages 43258-43259]
[FR Doc No: 2023-14233]

========================================================================
Proposed Rules
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains notices to the public of
the proposed issuance of rules and regulations. The purpose of these
notices is to give interested persons an opportunity to participate in
the rule making prior to the adoption of the final rules.

========================================================================

Federal Register / Vol. 88, No. 129 / Friday, July 7, 2023 / Proposed
Rules

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Docket No. FAA-2023-1464 Airspace Docket No. 22-AAL-28]
RIN 2120-AA66

Revocation of Colored Federal Airway Green 4 (G-4) in the
Vicinity of Dillingham, AK

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice of proposed rulemaking (NPRM).

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

SUMMARY: This action proposes to revoke Colored Federal airway Green 4
(G-4) in the vicinity of Dillingham, AK due to the pending
decommissioning of the Wood River (BTS) Non-directional Beacon (NDB).

DATES: Comments must be received on or before August 21, 2023.

ADDRESSES: Send comments identified by FAA Docket No. FAA-2023-1464 and
Airspace Docket No. 22-AAL-28 using any of the following methods:
    * Federal eRulemaking Portal: Go to www.regulations.gov and follow
the online instructions for sending your comments electronically.
    * Mail: Send comments to Docket Operations, M-30; U.S. Department
of Transportation, 1200 New Jersey Avenue SE, Room W12-140, West
Building Ground Floor, Washington, DC 20590-0001.
    * Hand Delivery or Courier: Take comments to Docket Operations in
Room W12-140 of the West Building Ground Floor at 1200 New Jersey
Avenue SE, Washington, DC, between 9 a.m. and 5 p.m., Monday through
Friday, except Federal holidays.
    * Fax: Fax comments to Docket Operations at<PHONE_NUMBER>.
    Docket: Background documents or comments received may be read at
www.regulations.gov at any time. Follow the online instructions for
accessing the docket or go to the Docket Operations in Room W12-140 of
the West Building Ground Floor at 1200 New Jersey Avenue SE,
Washington, DC, between 9 a.m. and 5 p.m., Monday through Friday,
except Federal holidays.
    FAA Order JO 7400.11G, Airspace Designations and Reporting Points,
and subsequent amendments can be viewed online at www.faa.gov/air_traffic/publications/. You may also contact the Rules and
Regulations Group, Office of Policy, Federal Aviation Administration,
800 Independence Avenue SW, Washington, DC 20591; telephone: (202) 267-
8783.

FOR FURTHER INFORMATION CONTACT: Steven Roff, Rules and Regulations
Group, Office of Policy, Federal Aviation Administration, 800
Independence Avenue SW, Washington, DC 20591; telephone: (202) 267-
8783.

SUPPLEMENTARY INFORMATION:

Authority for This Rulemaking

    The FAA's authority to issue rules regarding aviation safety is
found in Title 49 of the United States Code. 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. This rulemaking is promulgated under the authority described
in Subtitle VII, Part A, Subpart I, Section 40103. Under that section,
the FAA is charged with prescribing regulations to assign the use of
the airspace necessary to ensure the safety of aircraft and the
efficient use of airspace. This regulation is within the scope of that
authority as it would modify the route structure as necessary to
preserve the safe and efficient flow of air traffic within the National
Airspace System (NAS).

Comments Invited

    The FAA invites interested persons to participate in this
rulemaking by submitting written comments, data, or views. Comments are
specifically invited on the overall regulatory, aeronautical, economic,
environmental, and energy-related aspects of the proposal. The most
helpful comments reference a specific portion of the proposal, explain
the reason for any recommended change, and include supporting data. To
ensure the docket does not contain duplicate comments, commenters
should submit only one time if comments are filed electronically, or
commenters should send only one copy of written comments if comments
are filed in writing.
    The FAA will file in the docket all comments it receives, as well
as a report summarizing each substantive public contact with FAA
personnel concerning this proposed rulemaking. Before acting on this
proposal, the FAA will consider all comments it receives on or before
the closing date for comments. The FAA will consider comments filed
after the comment period has closed if it is possible to do so without
incurring expense or delay. The FAA may change this proposal in light
of the comments it receives.
    Privacy: In accordance with 5 U.S.C. 553(c), DOT solicits comments
from the public to better inform its rulemaking process. DOT posts
these comments, without edit, including any personal information the
commenter provides, to www.regulations.gov, as described in the system
of records notice (DOT/ALL-14 FDMS), which can be reviewed at
www.dot.gov/privacy.

Availability of Rulemaking Documents

    An electronic copy of this document may be downloaded through the
internet at https://www.regulations.gov. Recently published rulemaking
documents can also be accessed through the FAA's web page at
www.faa.gov/air_traffic/publications/airspace_amendments/.
    You may review the public docket containing the proposal, any
comments received and any final disposition in person in the Dockets
Office (see ADDRESSES section for address, phone number, and hours of
operations). An informal docket may also be examined during normal
business hours at the office of the Operations Support Group, Western
Service Center, Federal Aviation Administration, 2200 South 216th St.,
Des Moines, WA 98198.

Incorporation by Reference

    Colored Federal airways are published in paragraph 6009 of FAA
Order JO 7400.11, Airspace Designations and Reporting Points, which is
incorporated by reference in 14 CFR 71.1 on an annual basis. This
document proposes to amend the current version of that order, FAA Order
JO 7400.11G, dated August 19, 2022, and effective September 15, 2022.
These updates would be published in the next

update to FAA Order JO 7400.11. That order is publicly available as
listed in the ADDRESSES section of this document.
    FAA Order JO 7400.11G lists Class A, B, C, D, and E airspace areas,
air traffic service routes, and reporting points.

Background

    In 2003, Congress enacted the Vision 100-Century of Aviation
Reauthorization Act (Pub. L. 108-176), which established a joint
planning and development office in the FAA to manage the work related
to the Next Generation Air Transportation System (NextGen). Today,
NextGen is an ongoing FAA-led modernization of the nation's air
transportation system to make flying safer, more efficient, and more
predictable.
    In support of NextGen, this proposal is part of an ongoing, large
and comprehensive T-route modernization project in the state of Alaska.
The project mission statement states: ``To modernize Alaska's Air
Traffic Service route structure using satellite-based navigation
development of new T-routes and optimization of existing T-routes will
enhance safety, increase efficiency and access, and will provide en
route continuity that is not subject to the restrictions associated
with ground-based airway navigation.'' As part of this project, the FAA
evaluated the existing Colored Airway structure for: (a) direct
replacement (i.e., overlay) with a T-route that offers a similar or
lower Minimum En route Altitude (MEA) or Global Navigation Satellite
System (GNSS) Minimum En route Altitude (MEA); (b) the replacement of
the colored airway with a T-route in an optimized but similar
geographic area, while retaining similar or lower MEA; or (c) removal
with no route structure (T-route) restored in that area because the
value was determined to be insignificant.
    The aviation industry/users have indicated a desire for the FAA to
transition the Alaskan en route navigation structure away from
dependency on NDBs and move to develop and improve the United States
Area Navigation (RNAV) route structure.
    Colored Federal airway G-4 extends between the Wood River (BTS) NDB
and the Iliamna (ILI) NDB in Alaska. The decommissioning of the BTS NDB
would render G-4 unusable. The FAA proposes to revoke G-4 in its
entirety. The mitigation to the loss of G-4 is in place with RNAV route
T-370 overlying the entire route.

The Proposal

    The FAA is proposing an amendment to 14 CFR part 71 to revoke
Colored Federal airway G-4 in the vicinity of Dillingham, AK due to the
pending decommissioning of the Wood River NDB.
    Colored Federal airway G-4 currently extends between the Wood
River, AK, NDB and the Iliamna, AK, NDB. The FAA proposes to revoke G-4
in its entirety.

Regulatory Notices and Analyses

    The FAA has determined that this proposed regulation only involves
an established body of technical regulations for which frequent and
routine amendments are necessary to keep them operationally current.
It, therefore: (1) is not a ``significant regulatory action'' under
Executive Order 12866; (2) is not a ``significant rule'' under
Department of Transportation (DOT) Regulatory Policies and Procedures
(44 FR 11034; February 26, 1979); and (3) does not warrant preparation
of a regulatory evaluation as the anticipated impact is so minimal.
Since this is a routine matter that will only affect air traffic
procedures and air navigation, it is certified that this proposed rule,
when promulgated, will not have a significant economic impact on a
substantial number of small entities under the criteria of the
Regulatory Flexibility Act.

Environmental Review

    This proposal will be subject to an environmental analysis in
accordance with FAA Order 1050.1F, ``Environmental Impacts: Policies
and Procedures'' prior to any FAA final regulatory action.

List of Subjects in 14 CFR Part 71

    Airspace, Incorporation by reference, Navigation (air).

The Proposed Amendment

    In consideration of the foregoing, the Federal Aviation
Administration proposes to amend 14 CFR part 71 as follows:

PART 71--DESIGNATION OF CLASS A, B, C, D, AND E AIRSPACE AREAS; AIR
TRAFFIC SERVICE ROUTES; AND REPORTING POINTS

0
1. The authority citation for 14 CFR part 71 continues to read as
follows:

    Authority:  49 U.S.C. 106(f), 106(g); 40103, 40113, 40120; E.O.
10854, 24 FR 9565, 3 CFR, 1959-1963 Comp., p. 389.

Sec.  71.1  [Amended]

0
2. The incorporation by reference in 14 CFR 71.1 of FAA Order JO
7400.11G, Airspace Designations and Reporting Points, dated August 19,
2022, and effective September 15, 2022, is amended as follows:

Paragraph 6009(a) Colored Federal Airways.

* * * * *

G-4 [Remove]

* * * * *

    Issued in Washington, DC, on June 29, 2023.
Brian Konie,
Acting Manager, Airspace Rules and Regulations.
[FR Doc. 2023-14233 Filed 7-6-23; 8:45 am]
BILLING CODE 4910-13-P


                            STATE OF NEW HAMPSHIRE
                     DEPARTMENT OF ENVIRONMENTAL SERVICES
                            AIR RESOURCES DIVISION
                            CONCORD, NEW HAMPSHIRE

              NOTICE OF PUBLIC COMMENT PERIOD AND PUBLIC HEARING

   In accordance with New Hampshire Administrative Rule Env-A 204.01(b) and Title 40 of the Code of Federal Regulations (CFR) Section 51.102, notice is hereby given that the New Hampshire Department of Environmental Services, Air Resources Division (the Department) has prepared, and intends to submit to the U.S. Environmental Protection Agency, a certification of the adequacy of New Hampshire's State Implementation Plan (SIP) to meet the requirements of the federal Clean Air Act, section 110 (a) (1) and (2), pertaining to infrastructure elements for implementation of the federal air quality standards for ozone.  These standards that New Hampshire and other states must meet are contained in Title 40: Protection of Environment, section 50.15, National Primary and Secondary Air Quality Standards for Ozone.
   This SIP certification is submitted in response to the revised National Ambient Air Quality Standards (NAAQS) for Ozone as promulgated by EPA final rule on October 26, 2015 [80 FR 65292].  For states such as New Hampshire that are already meeting these air quality standards, EPA expects states to make certification of SIP adequacy within three years after the date of promulgation of the standards.
   The Department hereby solicits comments and has scheduled a public hearing on this SIP certification.  Comments must be submitted in writing or by email or fax to Felice Janelle, Air Resources Division, NH Department of Environmental Services, P.O. Box 95, Concord, NH  03302-0095; email<EMAIL_ADDRESS>fax<PHONE_NUMBER>.
   A public hearing at the Department offices has been scheduled for 9:00 a.m., Thursday, August 23, 2018, in Room 114 at 29 Hazen Drive, Concord, NH 03301.
   All comments on the proposed SIP certification must be received by 4:00 p.m. on Thursday, August 23, 2018, to be entered into the record.
   A copy of the SIP certification of adequacy is available for public inspection at the Department's offices at 29 Hazen Drive, Concord, NH, during regular working hours from 8:00 a.m. to 4:00 p.m., Monday through Friday.  The main text of the SIP certification may be downloaded at http://des.nh.gov/organization/divisions/air/do/sip/index.htm under "Ozone." For more information or to make arrangements for anyone wishing to attend the hearing who may need special assistance, please call Felice Janelle at<PHONE_NUMBER>.

                                    Craig A. Wright
                                    Director, Air Resources Division
                                    NH Department of Environmental Services

Dated:	July 20, 2018


[Federal Register Volume 81, Number 128 (Tuesday, July 5, 2016)]
[Notices]
[Pages 43708-43710]
[FR Doc No: 2016-15750]

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DEPARTMENT OF TRANSPORTATION

National Highway Traffic Safety Administration

[Docket No. NHTSA-2016-0002; Notice 2]

Cooper Tire & Rubber Company, Grant of Petition for Decision of
Inconsequential Noncompliance

AGENCY: National Highway Traffic Safety Administration (NHTSA),
Department of Transportation (DOT).

ACTION: Grant of petition.

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

SUMMARY: Cooper Tire & Rubber Company (Cooper), has determined that
certain Cooper tires do not fully comply with paragraph S5.5.1(b) of
Federal Motor Vehicle Safety Standard (FMVSS) No. 139, New pneumatic
radial tires for light vehicles. Cooper filed a report dated January 8,
2016, pursuant to 49 CFR part 573, Defect and Noncompliance
Responsibility and Reports. Cooper then petitioned NHTSA under 49 CFR
part 556 requesting a decision that the subject noncompliance is
inconsequential to motor vehicle safety.

ADDRESSES: For further information on this decision contact Abraham
Diaz,

Office of Vehicle Safety Compliance, the National Highway Traffic
Safety Administration (NHTSA), telephone<PHONE_NUMBER>, facsimile
(202) 366-5930.

SUPPLEMENTARY INFORMATION:

I. Overview

    Pursuant to 49 U.S.C. 30118(d) and 30120(h) (see implementing rule
at 49 CFR part 556), Cooper submitted a petition for an exemption from
the notification and remedy requirements of 49 U.S.C. chapter 301 on
the basis that this noncompliance is inconsequential to motor vehicle
safety.
    Notice of receipt of the petition was published, with a 30-day
public comment period, on March 25, 2016 in the Federal Register (81 FR
16268). No comments were received. To view the petition and all
supporting documents log onto the Federal Docket Management System
(FDMS) Web site at: http://www.regulations.gov/. Then follow the online
search instructions to locate docket number ``NHTSA-2016-0002.''

II. Tires Involved

    Affected are approximately 338 Cooper Discoverer A/T3 size 265/
70R18 Standard Load Tubeless Radial tires that were manufactured
between September 27, 2015 and October 3, 2015.

III. Noncompliance

    Cooper explains that the DOT serial week and year appears upside
down and backwards in the tire identification number (TIN) molded into
the outboard sidewalls of the subject tires and those tires therefore
do not meet the requirements specified in paragraph S5.5.1 of FMVSS No.
139.

IV. Rule Text

    Paragraph S5.5.1 of FMVSS No. 139 requires in pertinent part:

    S5.5.1 Tire Identification Number.
    . . .
    (b) Tires manufactured on or after September 1, 2009. Each tire
must be labeled with the tire identification number required by 49
CFR part 574 on the intended outboard sidewall of the tire. Except
for retreaded tires, either the tire identification number or a
partial tire identification number, containing all characters in the
tire identification number, except for the date code and, at the
discretion of the manufacturer, any optional code, must be labeled
on the other sidewall of the tire. Except for retreaded tires, if a
tire does not have an intended outboard sidewall, the tire must be
labeled with the tire identification number required by 49 CFR part
574 on one sidewall and with either the tire identification number
or a partial tire identification number, containing all characters
in the tire identification number except for the date code and, at
the discretion of the manufacturer, any optional code, on the other
side wall.

V. Summary of Cooper's Petition

    Cooper believes that this noncompliance is inconsequential as it
relates to motor vehicle safety.
    In support of its petition, Cooper submitted the following
information and analysis of the subject noncompliance:
    1. Cooper cited paragraph S5.5.1(b) of FMVSS No. 139, which
requires tires manufactured on or after September 1, 2009 to be labeled
with the TIN required by 49 CFR part 574 on the intended outboard
sidewall of the tire.
    2. Cooper also noted that 49 CFR 574.5 states that ``[e]ach tire
manufacturer shall conspicuously label on one sidewall of each tire it
manufactures . . . a tire identification number containing the
information set forth in paragraphs (a) through (d) of this section.''
The company further noted that 49 CFR 574.5(d) specifies that ``[t]he
fourth grouping, consisting of four numerical symbols, must identify
the week and year of manufacture,'' with the first two symbols
identifying the week and the last two identifying the year.
    3. Cooper stated that the subject tires, on the outboard side only,
were molded with an upside down and backwards DOT serial week and year.
The serial number stamping should read: ``DOT UPH4 1A6 3915.'' The
outboard side, which includes the date code, was molded with the date
code information oriented incorrectly upside down and backwards, which
resulted in the characters being out of proper sequence.
    4. Cooper explained that the existence of the stamping error was
determined by visual examination of a subject tire on October 21, 2015
by warehouse personnel in Grand Prairie, TX. Upon further
investigation, it was determined that only tires cured in one press
location (E10L) during one production week (3915) were affected. Tires
with the same SKU code were also curing in another press (Z11L), but
these tires were stamped correctly. Cooper stated that sorting of its
internal inventories revealed that for curing press E10L, during DOT
serial week 3915, there was a total net cure of 518 tires, of which 180
tires have been accounted for in its warehouse. There were 338 tires
distributed. Cooper made the final determination that a noncompliance
exists as to those 338 tires on January 6, 2015.
    5. Cooper states that the 338 subject tires do meet and/or exceed
all performance requirements and all other labeling and marking
requirements of FMVSS No. 139.
    Furthermore, Cooper is not aware of any crashes, injuries, customer
complaints, or field reports associated with the subject tires.
    Cooper has informed NHTSA that the subject tires located in its
inventory count reconciliation have been returned to the company's
Findlay, OH plant, where they will be corrected prior to being released
for sale.
    In summation, Cooper believes that the described noncompliance is
inconsequential to motor vehicle safety, and that its petition, to
exempt Cooper from providing recall notification of the noncompliance,
as required by 49 U.S.C. 30118, and remedying the noncompliance, as
required by 49 U.S.C. 30120, should be granted.

NHTSA'S Decision

    NHTSA'S Analysis: The agency believes that in the case of a tire
labeling noncompliance, one measure of its inconsequentiality to motor
vehicle safety is whether the mislabeling would affect the
manufacturer's or consumer's ability to identify the mislabeled tires
properly, should the tires be recalled for performance related
noncompliance. In this case, the nature of the labeling error does not
prevent the correct identification of the affected tires. 49 CFR 574.5
requires the date code portion of the tire identification number to be
placed in the last or correct position. In Cooper's case it is in the
right-most position, however, the manufacturer date code is upside
down. Because the label is located on the tire sidewall, it is not
likely to be misidentified. A reader will be able to read the date
code, by spinning the tire, and therefore inverting the date code will
allow it to easily be read.
    NHTSA'S Decision: In consideration of the foregoing, NHTSA finds
that Cooper has met its burden of persuasion that the subject FMVSS No.
139 noncompliance in the affected tires is inconsequential to motor
vehicle safety. Accordingly, Cooper's petition is hereby granted and
Cooper is consequently exempted from the obligation of providing
notification of, and a free remedy for, that noncompliance under 49
U.S.C. 30118 and 30120.
    NHTSA notes that the statutory provisions (49 U.S.C. 30118(d) and
30120(h)) that permit manufacturers to file petitions for a
determination of inconsequentiality allow NHTSA to exempt manufacturers
only from the duties found in sections 30118 and 30120, respectively,
to notify owners, purchasers, and dealers of a defect or noncompliance
and to remedy the

defect or noncompliance. Therefore, this decision only applies to the
subject tires that Cooper no longer controlled at the time it
determined that the noncompliance existed. However, the granting of
this petition does not relieve equipment distributors and dealers of
the prohibitions on the sale, offer for sale, or introduction or
delivery for introduction into interstate commerce of the noncompliant
tires under their control after Cooper notified them that the subject
noncompliance existed.

    Authority:  49 U.S.C. 30118, 30120: delegations of authority at
49 CFR 1.95 and 501.8.

Jeffrey M. Giuseppe,
Director, Office of Vehicle Safety Compliance.
[FR Doc. 2016-15750 Filed 7-1-16; 8:45 am]
 BILLING CODE 4910-59-P


[Federal Register: January 11, 2010 (Volume 75, Number 6)]
[Notices]
[Page 1434-1436]
[DOCID:fr11ja10-96]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-61281; File No. SR-NASDAQ-2009-115]

Self-Regulatory Organizations; The NASDAQ Stock Market LLC;
Notice of Filing and Immediate Effectiveness of a Proposed Rule Change
To Allow All SPY and IWM Option Series To Quote in Penny Increments

January 4, 2010.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 \2\ thereunder, notice is hereby given
that on December 24, 2009, The NASDAQ Stock Market LLC (``Nasdaq'')
filed with the Securities and Exchange Commission (``SEC'' or
``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by Nasdaq. The Commission
is publishing this notice to solicit comments on the proposed rule
change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    Nasdaq is filing with the Securities and Exchange Commission
(``SEC'' or ``Commission'') a proposal for the NASDAQ Options Market
(``NOM'' or ``Exchange'') to quote all series of options on SPDR S&P
500 Exchange Traded Funds (SPY) and options on iShares Russell 2000
Index Funds (IWM) in penny increments ($0.01) pursuant to the Penny
Pilot (``Penny Pilot'' or ``Pilot''), effective February 1, 2010.\3\
This date corresponds with the phase-in date for additional classes for
the Penny Pilot.
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    \3\ The Penny Pilot was established in March 2008 and in October
2009 was expanded and extended through December 31, 2010. See
Securities Exchange Act Release Nos. 57579 (March 28, 2008), 73 FR
18587 (April 4, 2008) (SR-NASDAQ-2008-026) (notice of filing and
immediate effectiveness establishing Penny Pilot); and 60874
(October 23, 2009), 74 FR 56682 (November 2, 2009) (SR-NASDAQ-2009-
091) (notice of filing and immediate effectiveness expanding and
extending Penny Pilot through December 31, 2010). See also
Securities Exchange Act Release No. 60965 (November 9, 2009), 74 FR
59292 (November 17, 2009) (SR-NASDAQ-2009-097) (notice of filing and
immediate effectiveness adding seventy-five classes to Penny Pilot).
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    The Exchange requests that the Commission waive the 30-day
operative delay period contained in Exchange Act Rule 19b-
4(f)(6)(iii).\4\
---------------------------------------------------------------------------

    \4\ 17 CFR 240.19b-4(f)(6)(iii).
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    The text of the proposed rule change is available from Nasdaq's Web
site at http://nasdaq.cchwallstreet.com/Filings/ at Nasdaq's principal
office, and at the Commission's Public Reference Room.

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

    In its filing with the Commission, 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 these statements may be examined at the places specified

in Item IV below. Nasdaq has prepared summaries, set forth in Sections
A, B, and C below, of the most significant aspects of such statements.

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

1. Purpose
    The purpose of this filing is to enable the Exchange to quote all
series of options on SPDR S&P 500 Exchange Traded Funds (``SPY'') and
options on iShares Russell 2000 Index Funds (``IWM'') in penny
increments pursuant to the Penny Pilot, effective February 1, 2010.
    In the Exchange's immediately effective filing to extend and expand
the Penny Pilot through December 31, 2010, the Exchange proposed
expanding the Pilot four times on a quarterly basis.\5\ In addition to
sixty-three options classes that were in the Penny Pilot, the Exchange
has recently added the next seventy-five most actively traded multiply
listed options classes based on the national average daily volume
(``ADV'') for the six months prior to selection, closing under $200 per
share on the Expiration Friday prior to expansion.\6\ The minimum
quotation variation for all classes included in the Pilot, except for
options on PowerShares QQQ (``QQQQ''),\7\ is $0.01 for all quotations
in option series that are quoted at less than $3.00 per contract, and
$0.05 for all quotations in option series that are quoted at $3.00 or
greater. Thus, the current minimum quoting increment for bids and
offers in SPY and IWM is $0.01 for all options series below $3.00 and
$0.05 for all options series $3.00 and above.
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    \5\ See Securities Exchange Act Release No. 60874 (October 23,
2009), 74 FR 56682 (November 2, 2009) (SR-NASDAQ-2009-091) (notice
of filing and immediate effectiveness).
    \6\ The month immediately preceding the addition of options to
the Penny Pilot was not used for the purpose of the six month
analysis, and index option products were included only if the
underlying index levels were under 200. See Securities Exchange Act
Release No. 60965 (November 9, 2009), 74 FR 59292 (November 17,
2009) (SR-NASDAQ-2009-097) (notice of filing and immediate
effectiveness).
    \7\ Options on QQQQ are quoted in $0.01 increments for all
series.
---------------------------------------------------------------------------

    The Exchange now proposes to eliminate the $3.00 breakpoint that
exists for SPY and IWM and designate all options series of SPY and IWM
as eligible to quote in $0.01 increments, regardless of premium value.
The Exchange will communicate the proposed change to its membership via
an Options Trader Alert (``OTA'') posted on the Exchange's Web site.
    The Exchange notes that although the Pilot has contributed to some
increase in quote message traffic, it has been manageable by the
Exchange and the Options Price Reporting Authority (``OPRA''), with no
significant disruption in the dissemination of pricing information. The
Exchange believes that the benefits to public customers and other
market participants who are able to express their true prices to buy
and sell options have been demonstrated to outweigh the increase in
quote traffic. Moreover, the Exchange's rule change proposal is
sufficiently limited such that it is unlikely to increase quotation
message traffic beyond the capacity of the Exchange's or OPRA's
systems, or to disrupt the timely dissemination of information.
    The Exchange believes that its proposal to eliminate the breakpoint
for penny quoting of all SPY and IWM option series should facilitate
the continuing narrowing of spreads, thereby lowering costs to the
benefit of investors.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b) of the Act \8\ in general, and furthers the objectives of Section
6(b)(5) of the Act \9\ in particular, in that it is designed to prevent
fraudulent and manipulative acts and practices, to promote just and
equitable principles of trade, to foster cooperation and coordination
with persons engaged in facilitating transactions in securities, and to
remove impediments to and perfect the mechanisms of a free and open
market and a national market system by allowing all SPY and IWM option
series to quote in penny intervals.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78f(b).
    \9\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

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.

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 Exchange believes that the foregoing proposed rule change may
take effect upon filing with the Commission pursuant to Section
19(b)(3)(A) \10\ of the Act and Rule 19b-4(f)(6)(iii) thereunder \11\
because the foregoing proposed rule change does not: (i) Significantly
affect the protection of investors or the public interest; (ii) impose
any significant burden on competition; and (iii) become operative prior
to 30 days from the date on which it was filed, or such shorter time as
the Commission may designate.\12\
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    \10\ 15 U.S.C. 78s(b)(3)(A).
    \11\ 17 CFR 240.19b-4(f)(6)(iii).
    \12\ 17 CFR 240.19b-4(f)(6)(iii). In addition, Rule 19b-
4(f)(6)(iii) requires the Exchange to give the Commission written
notice of the Exchange's intent to file the proposed rule change
along with a brief description and the text of the proposed rule
change, at least five business days prior to the date of filing of
the proposed rule change, or such shorter time as designated by the
Commission. The Exchange has satisfied this requirement.
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    At any time within 60 days of the filing of the proposed rule
change, the Commission may summarily abrogate 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.

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 e-mail to<EMAIL_ADDRESS>Please include
File Number SR-NASDAQ-2009-115 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-2009-115. This
file number should be included on the subject line if e-mail 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 inspection and copying in the
Commission's Public Reference Room, 100 F Street, NE., Washington, DC
20549, on official business days between the hours of 10 a.m. and 3
p.m. Copies of the filing also will be available for inspection and
copying at the principal office of the self-regulatory organization.
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-2009-
115 and should be submitted on or before February 1, 2010.
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    \13\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\13\
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-204 Filed 1-8-10; 8:45 am]
BILLING CODE 8011-01-P