Review
Mind the Gap! A Journey towards Computational Toxicology
Giuseppe Felice Mangiatordi

Domenico Alberga

Cosimo Damiano Altomare

Angelo Carotti

Marco Catto

Saverio Cellamare

Domenico Gadaleta

Gianluca Lattanzi
... See all authors
First published: 13 April 2016

https://doi.org/10.1002/minf.201501017
Citations: 14
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Abstract
Computational methods have advanced toxicology towards the development of target‐specific models based on a clear cause‐effect rationale. However, the predictive potential of these models presents strengths and weaknesses. On the good side, in silico models are valuable cheap alternatives to in vitro and in vivo experiments. On the other, the unconscious use of in silico methods can mislead end‐users with elusive results. The focus of this review is on the basic scientific and regulatory recommendations in the derivation and application of computational models. Attention is paid to examine the interplay between computational toxicology and drug discovery and development. Avoiding the easy temptation of an overoptimistic future, we report our view on what can, or cannot, realistically be done. Indeed, studies of safety/toxicity represent a key element of chemical prioritization programs carried out by chemical industries, and primarily by pharmaceutical companies.
Citing Literature
Supporting Information


[Federal Register Volume 78, Number 83 (Tuesday, April 30, 2013)]
[Notices]
[Page 25325]
[FR Doc No: 2013-10150]

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SECURITIES AND EXCHANGE COMMISSION

Proposed Collection; Comment Request

Upon Written Request Copies Available From: Securities and Exchange
Commission, Office of Investor Education and Advocacy, Washington, DC
20549-0213.

Extension:
    Regulation A (Forms 1-A and 2-A); OMB Control No. 3235-0286, SEC
File No. 270-110.

    Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange
Commission (``Commission'') is soliciting comments on the collection of
information summarized below. The Commission plans to submit this
existing collection of information to the Office of Management and
Budget for extension and approval.
    Regulation A (17 CFR 230.251 through 230.263) provides an exemption
from registration under the Securities Act of 1933 (15 U.S.C. 77a et
seq.) for certain limited offerings of securities by issuers who do not
otherwise file reports with the Commission. Form 1-A is an offering
statement filed under Regulation A. Form 2-A is filed to report the
sale of securities in a Regulation A offering and the use of the
proceeds raised in the offering. The paperwork burden from Regulation A
is imposed through the forms that are subject to the disclosure
requirements in Regulation A and is reflected in the analysis of these
forms. To avoid a Paperwork Reduction Act inventory reflecting
duplicative burdens, for administrative convenience we estimate the
burden imposed by Regulation A to be a total of one hour. We estimate
that approximately 100 issuers file Forms 1-A and 2-A annually. We
estimate that Form 1-A takes approximately 608 hours to prepare, Form
2-A takes approximately 12 hours to prepare for a total 621 hours per
response (including the one hour for Regulation A). We estimate that
75% of the 621 hours per response (465.75 hours) is prepared by the
company for a total annual burden of 46,575 hours (465.75 hours per
response x 100 responses).
    Written comments are invited on: (a) Whether the proposed
collection of information is necessary for the proper performance of
the functions of the agency, including whether the information will
have practical utility; (b) the accuracy of the agency's estimate of
the burden imposed by the collection of information; (c) ways to
enhance the quality, utility, and clarity of the information collected;
and (d) ways to minimize the burden of the collection of information on
respondents, including through the use of automated collection
techniques or other forms of information technology. Consideration will
be given to comments and suggestions submitted in writing within 60
days of this publication.
    An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless it displays a
currently valid control number.
    Please direct your written comments to Thomas Bayer, Director/Chief
Information Officer, Securities and Exchange Commission, c/o Remi
Pavlik-Simon, 6432 General Green Way, Alexandria, Virginia 22312; or
send an email to<EMAIL_ADDRESS>
    Dated: April 24, 2013.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-10150 Filed 4-29-13; 8:45 am]
BILLING CODE 8011-01-P


 [Federal Register Volume 76, Number 130 (Thursday, July 7, 2011)] [Notices] [Pages 39940-39942] [FR Doc No: 2011-16950]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-64779; File No. SR-BX-2011-041]

Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of

Filing and Immediate Effectiveness of a Proposal To Extend a Pilot

Program That Permits BOX to Have No Minimum Size Requirement for Orders

Entered Into the Price Improvement Period (PIP) Process Until July 18,

2012

June 30, 2011.

    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 June 29, 2011, NASDAQ OMX BX, Inc. (``Exchange'') filed with the

Securities and Exchange Commission (``Commission'') the proposed rule

change as described in Items I and II below, which Items have been

substantially prepared by the Exchange. The Exchange has filed the

proposed rule change pursuant to Section 19(b)(3)(A) of the Act,\3\ and

Rule 19b-4(f)(6) thereunder,\4\ which renders the proposal effective

upon filing with the Commission. 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.

    \3\ 15 U.S.C. 78s(b)(3)(A).

    \4\ 17 CFR 240.19b-4(f)(6).

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I. Self-Regulatory Organization's Statement of the Terms of the

Substance of the Proposed Rule Change

    The Exchange proposes to amend proposes to amend [sic] the

Supplementary Material to Chapter V, Section 18 (The Price Improvement

Period ``PIP'') of the Rules of the Boston Options Exchange Group, LLC

(``BOX'') to extend a pilot program that permits BOX to have no minimum

size requirement for orders entered into the PIP process (``PIP Pilot

Program''). The text of the proposed rule change is available at the

Exchange's principal office, at http://www.nasdaqomx.com, at the

Commission's Public Reference Room, and at the Commission's Web site at

http://www.sec.gov.

II. Self-Regulatory Organization's Statement of the Purpose of, and

Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, the Exchange included statements

concerning the purpose of and basis for the proposed rule change and

discussed any comments it received on the proposed rule change. The

text of these statements may be examined at the places specified in

Item IV below. The Exchange has prepared summaries, set forth in

Sections A, B, and C below, of the most significant aspects of such

statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and

Statutory Basis for, the Proposed Rule Change

1. Purpose

    The purpose of the proposed rule change is to extend the PIP Pilot

Program under the BOX Rules for

twelve (12) additional months. The PIP Pilot Program allows BOX to have

no minimum size requirement for orders entered into the PIP process.\5\

BOX has committed to provide certain data to the Commission during the

PIP Pilot Program.\6\ The proposed rule change retains the text of

Supplementary Material .01 to Section 18 of Chapter V of the BOX Rules

and seeks to extend the operation of the PIP Pilot Program until July

18, 2012.

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    \5\ The Pilot Program is currently set to expire on July 18,

2011. See Securities Exchange Act Release No. 62512 (July 16, 2010),

75 FR 43223 (July 23, 2010) (SR-BX-2010-046). See also Securities

and Exchange Act Release Nos. 60337 (July 17, 2009), 74 FR 36805

(July 24, 2009) (SR-BX-2009-38); 58942 (November 13, 2008), 73 FR

70394 (November 20, 2008) (SR-BSE-2008-49); 58195 (July 18, 2008),

73 FR 43801 (July 28, 2008) (SR-BSE-2008-39); 55999 (July 2, 2007),

72 FR 37549 (July 10, 2007) (SR-BSE-2007-27); 54066 (June 29, 2006),

71 FR 38434 (July 6, 2006) (SR-BSE-2006-24); 52149 (July 28, 2005),

70 FR 44704 (August 3, 2005) (SR-BSE-2005-22); 49068 (January 13,

2004), 69 FR 2775 (January 20, 2004) (SR-BSE-2002-15) (``Original

PIP Pilot Program Approval Order''); and 51821 (June 10, 2005), 70

FR 35143 (June 16, 2005) (SR-BSE-2004-51) (Order Approval Relating

to the Trading of Market Orders on the Boston Options Exchange).

    \6\ See Securities Exchange Act Release No. 51821 (June 10,

2005), 70 FR 35143 (June 16, 2005) (SR-BSE-2004-51).

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    The Exchange notes that the PIP Pilot Program guarantees

Participants the right to trade with their customer orders that are

less than 50 contracts. In particular, any order entered into the PIP

is guaranteed an execution at the end of the auction at a price at

least equal to the national best bid or offer. In further support of

this proposed rule change, and as required by the Original PIP Pilot

Program Approval Order, the Exchange represents that BOX has been

submitting to the Exchange and to the Commission a PIP Pilot Program

Report, offering detailed data from, and analysis of, the PIP Pilot

Program. Although BOX is submitting the reports, the Exchange notes

that it is also responsible for the timeliness and the accuracy of the

information.

    To aid the Commission in its evaluation of the PIP Pilot Program,

BOX has represented to the Exchange that BOX will provide the following

additional information each month: (1) The number of orders of 50

contracts or greater entered into the PIP auction; (2) The percentage

of all orders of 50 contracts or greater sent to BOX that are entered

into BOX's PIP auction; (3) The spread in the option, at the time an

order of 50 contracts or greater is submitted to the PIP auction; (4)

Of PIP trades for orders of fewer than 50 contracts, the percentage

done at the National Best Bid or Offer (``NBBO'') plus $.01, plus $.02,

plus $.03, etc.; (5) Of PIP trades for orders of 50 contracts or

greater, the percentage done at the NBBO plus $.01, plus $.02, plus

$.03, etc.; (6) The number of orders submitted by Order Flow Providers

(``OFPs'') when the spread was $.05, $.10, $.15, etc. For each spread,

BOX will specify the percentage of contracts in orders of fewer than 50

contracts submitted to BOX's PIP that were traded by: (a) The OFP that

submitted the order to the PIP; (b) BOX Market Makers assigned to the

class; (c) other BOX Participants; (d) Public Customer Orders

(including Customer PIP Orders (``CPOs'')); and (e) unrelated orders

(orders in standard increments entered during the PIP). For each

spread, BOX will also specify the percentage of contracts in orders of

50 contracts or greater submitted to BOX's PIP that were traded by: (a)

The OFP that submitted the order to the PIP; (b) BOX Market Makers

assigned to the class; (c) other BOX Participants; (d) Public Customer

Orders (including CPOs); and (e) unrelated orders (orders in standard

increments entered during PIP); (7) For the first Wednesday of each

month: (a) the total number of PIP auctions on that date; (b) the

number of PIP auctions where the order submitted to the PIP was fewer

than 50 contracts; (c) the number of PIP auctions where the order

submitted to the PIP was 50 contracts or greater; (d) the number of PIP

auctions (for orders of fewer than 50 contracts) with 0 participants

(excluding the initiating participant), 1 participant (excluding the

initiating participant), 2 participants (excluding the initiating

participant), 3 participants (excluding the initiating participant), 4

participants (excluding the initiating participant), etc., and (e) the

number of PIP auctions (for orders of 50 contracts or greater) with 0

participants (excluding the initiating participant), 1 participant

(excluding the initiating participant), 2 participants (excluding the

initiating participant), 3 participants (excluding the initiating

participant), 4 participants (excluding the initiating participant),

etc.; and (8) For the third Wednesday of each month: (a) The total

number of PIP auctions on that date; (b) the number of PIP auctions

where the order submitted to the PIP was fewer than 50 contracts; (c)

the number of PIP auctions where the order submitted to the PIP was 50

contracts or greater; (d) the number of PIP auctions (for orders of

fewer than 50 contracts) with 0 participants (excluding the initiating

participant), 1 participant (excluding the initiating participant), 2

participants (excluding the initiating participant), 3 participants

(excluding the initiating participant), 4 participants (excluding the

initiating participant), etc., and (e) the number of PIP auctions (for

orders of 50 contracts or greater) with 0 participants (excluding the

initiating participant), 1 participant (excluding the initiating

participant), 2 participants (excluding the initiating participant), 3

participants (excluding the initiating participant), 4 participants

(excluding the initiating participant), etc.

2. Statutory Basis

    The Exchange believes that the proposal is consistent with the

requirements of Section 6(b) of the Act,\7\ in general, and Section

6(b)(5) of the Act,\8\ in particular, in that it is designed to foster

cooperation and coordination with persons engaged in regulating,

clearing, settling, processing information with respect to, and

facilitating transactions in securities, to remove impediments to and

perfect the mechanism for a free and open market and a national market

system and, in general, to protect investors and the public interest.

The Exchange believes that the data demonstrates that there is

sufficient investor interest and demand to extend the PIP Pilot Program

for an additional twelve (12) months. The Exchange represents that the

Pilot Program is designed to provide investors with real and

significant price improvement regardless of the size of the order.

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    \7\ 15 U.S.C. 78f(b).

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

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

    The Exchange does not believe that the proposed rule change will

impose any burden on competition 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

    No written comments were either solicited or received.

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

Commission Action

    The Exchange has filed the proposed rule change pursuant to Section

19(b)(3)(A)(iii) of the Act \9\ and Rule 19b-4(f)(6) thereunder.\10\

Because the 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) by its terms,

become operative prior to 30 days from the date on which it was filed,

or such shorter time as the Commission may designate, if consistent

with the protection of investors and the public interest, the proposed

rule change has become effective upon filing with the Commission

pursuant to Section 19(b)(3)(A) of the Act \11\ and Rule 19b-

4(f)(6)(iii) thereunder.\12\

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    \9\ 15 U.S.C. 78s(b)(3)(A)(iii).

    \10\ 17 CFR 240.19b-4(f)(6).

    \11\ 15 U.S.C. 78s(b)(3)(A).

    \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 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 met this requirement.

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

    The Exchange has requested that the Commission waive the 30-day

operative delay period. The Commission believes that waiver of the 30-

day operative delay period is consistent with the protection of

investors and the public interest because such waiver will allow the

PIP Pilot program to continue without interruption. Accordingly, the

Commission designates the proposed rule change operative upon filing

with the Commission.\13\

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    \13\ For purposes only of waiving the operative delay for this

proposal, the Commission has considered the proposed rule's impact

on efficiency, competition, and capital formation. See 15 U.S.C.

78c(f).

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

    At any time within 60 days of the filing of the proposed rule

change, the Commission summarily may temporarily suspend such rule

change if it appears to the Commission that such action is necessary or

appropriate in the public interest, for the protection of investors, or

otherwise in furtherance of the purposes of the Act.\14\

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    \14\ 15 U.S.C. 78s(b)(3)(C).

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IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and

arguments concerning the foregoing, including whether the proposed rule

change is consistent with the Act. Comments may be submitted by any of

the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or

     Send an e-mail to<EMAIL_ADDRESS>Please include

File Number SR-BX-2011-041 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-BX-2011-041. 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 Web site viewing and

printing in the Commission's Public Reference Room, 100 F Street, NE.,

Washington, DC 20549, on official business days between the hours of 10

a.m. and 3 p.m. Copies of such filing also will be available for

inspection and copying at the principal office of the Exchange. All

comments received will be posted without change; the Commission does

not edit personal identifying information from submissions. You should

submit only information that you wish to make available publicly. All

submissions should refer to File Number SR-BX-2011-041 and should be

submitted on or before July 28, 2011.

    For the Commission, by the Division of Trading and Markets,

pursuant to delegated authority.\15\

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    \15\ 17 CFR 200.30-3(a)(12).

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Cathy H. Ahn,

Deputy Secretary.

[FR Doc. 2011-16950 Filed 7-6-11; 8:45 am]

BILLING CODE 8011-01-P


From: Bradfield, John [ mailto: jbradfield@ cpamail. org]

Sent: Wednesday, July 30, 2003 3: 00 PM To: KISSELL MARY TOM ( KISSELL, MARY TOM)

Cc: Hunt Tim ( Hunt, Tim); Hanks, Katie P.; Harvey, Dave ( E mail)'

Subject: EPA Work Practices Questions Dear Mary Tom,

Attached is the response from our group to your questions on work practices that you asked earlier. Don't hesitate to call if anything is unclear.

<< EPA Work Practices Questions. doc>>

John Bradfield: jbradfield@ cpamail. org Director of Environmental Affairs Composite Panel Association 18922 Premiere Court Gaithersburg, MD 20879 1574 USA 301.670.0604 x229 Fax: 301.840.1252 Visit the CPA Web Site: http:\\ www. pbmdf. com TO: Mary Tom Kissell, EPA FROM: John Bradfield, Director of Environmental Affairs DATE: July 30, 2003 SUBJECT: EPA Work Practices Questions Prior to meeting with AF& PA in June EPA developed a list of questions about industry comments and other issues that had arisen. Two of the questions you posed were regarding work practices to assure the capture of air streams from rotary dryers and hardboard bake ovens. The AF& PA Wood Products Environmental Issues Task Group discussed this issue after our recent conference call with you and we have a suggestion. To provide some background, the negative air systems used by these units use are critical to their operation and would prevent any emission leakage. In the case of dryers, loss of that negative pressure creates a fire hazard and would interrupt material flow. In the case of bake ovens, a loss would lead to quality problems. Consequently, there is plenty of incentive to assure these units maintain negative pressure and the incentive has nothing to do with emission control. Nonetheless, we understand that you may need to address these pieces of equipment in some way.

Our suggestion would be to explain in the preamble, that, due to other operational requirements, it is unlikely that rotary dryers or hardboard bake ovens would lose their negative pressure operating parameters. If they did, it would be a clear production problem that would be given immediate attention. Consequently, no work practice requirements are necessary. We strongly feel that this would be a sufficient response to any questions on this matter.

Please don't hesitate to call if you have further questions on this subject.

CC: Tim Hunt, AF& PA


[Federal Register Volume 79, Number 88 (Wednesday, May 7, 2014)]
[Notices]
[Page 26258]
[FR Doc No: 2014-10436]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2014-N-0001]

Science Board to the Food and Drug Administration; Notice of
Meeting

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice.

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    This notice announces a forthcoming meeting of a public advisory
committee of the Food and Drug Administration (FDA). The meeting will
be open to the public.
    Name of Committee: Science Board to the Food and Drug
Administration (Science Board).
    General Function of the Committee: The Science Board provides
advice primarily to the Commissioner of Food and Drugs and other
appropriate officials on specific complex scientific and technical
issues important to FDA and its mission, including emerging issues
within the scientific community. Additionally, the Science Board
provides advice to the Agency on keeping pace with technical and
scientific developments including those in regulatory science; and
input into the Agency's research agenda; and on upgrading its
scientific and research facilities and training opportunities. It will
also provide, where requested, expert review of Agency sponsored
intramural and extramural scientific research programs.
    Date and Time: The meeting will be held on June 4, 2014, from
approximately 8:30 a.m. until 4:30 p.m.
    Location: FDA White Oak Campus, 10903 New Hampshire Ave., Bldg. 31
Conference Center, the Great Room (Rm. 1503, sections B and C), Silver
Spring, MD 20993. Information regarding special accommodations due to a
disability, visitor parking, and transportation may be accessed at:
http://www.fda.gov/AdvisoryCommittees/default.htm; under the heading
``Resources for You,'' click on ``Public Meetings at the FDA White Oak
Campus.'' Please note that visitors to the White Oak Campus must enter
through Building 1.
    Contact Person: Martha Monser, Office of the Chief Scientist,
Office of the Commissioner, Food and Drug Administration, 10903 New
Hampshire Ave., Bldg. 32, Rm. 4286, Silver Spring, MD 20993, 301-796-
4627<EMAIL_ADDRESS>or FDA Advisory Committee Information
Line, 1-800-741-8138<PHONE_NUMBER> in the Washington, DC area). A
notice in the Federal Register about last minute modifications that
impact a previously announced advisory committee meeting cannot always
be published quickly enough to provide timely notice. Therefore, you
should always check the Agency's Web site at http://www.fda.gov/AdvisoryCommittees/default.htm and scroll down to the appropriate
advisory committee meeting link, or call the advisory committee
information line to learn about possible modifications before coming to
the meeting.
    Agenda: On June, 4, 2014, the Science Board will discuss and make
recommendations on the draft final report from the Center for Biologics
Evaluation and Research's postmarketing safety review subcommittee. The
committee will be asked to support forming a new subcommittee to
evaluate the Commissioner's Fellowship Program. The committee will be
presented with an overview of current issues surrounding heparin
sourcing issues for discussion. A recipient of one of the fiscal year
2013 Scientific Achievement Awards (selected by the Science Board) will
provide an overview of the activities for which the award was given.
    FDA intends to make background material available to the public no
later than 2 business days before the meeting. If FDA is unable to post
the background material on its Web site prior to the meeting, the
background material will be made publicly available at the location of
the advisory committee meeting, and the background material will be
posted on FDA's Web site after the meeting. Background material is
available at http://www.fda.gov/AdvisoryCommittees/Calendar/default.htm. Scroll down to the appropriate advisory committee meeting
link.
    Procedure: Interested persons may present data, information, or
views, orally or in writing, on issues pending before the committee.
Written submissions may be made to the contact person on or before May
28, 2014. Oral presentations from the public will be scheduled between
approximately 3 p.m. and 4 p.m. Those individuals interested in making
formal oral presentations should notify the contact person and submit a
brief statement of the general nature of the evidence or arguments they
wish to present, the names and addresses of proposed participants, and
an indication of the approximate time requested to make their
presentation on or before May 20, 2014. Time allotted for each
presentation may be limited. If the number of registrants requesting to
speak is greater than can be reasonably accommodated during the
scheduled open public hearing session, FDA may conduct a lottery to
determine the speakers for the scheduled open public hearing session.
The contact person will notify interested persons regarding their
request to speak by May 21, 2014.
    Persons attending FDA's advisory committee meetings are advised
that the Agency is not responsible for providing access to electrical
outlets.
    FDA welcomes the attendance of the public at its advisory committee
meetings and will make every effort to accommodate persons with
physical disabilities or special needs. If you require special
accommodations due to a disability, please contact Martha Monser at
least 7 days in advance of the meeting.
    FDA is committed to the orderly conduct of its advisory committee
meetings. Please visit our Web site at http://www.fda.gov/AdvisoryCommittees/AboutAdvisoryCommittees/ucm111462.htm for procedures
on public conduct during advisory committee meetings.
    Notice of this meeting is given under the Federal Advisory
Committee Act (5 U.S.C. app. 2).

    Dated: May 1, 2014.
Jill Hartzler Warner,
Acting Associate Commissioner for Special Medical Programs.
[FR Doc. 2014-10436 Filed 5-6-14; 8:45 am]
BILLING CODE 4160-01-P


[Federal Register Volume 80, Number 139 (Tuesday, July 21, 2015)]
[Notices]
[Pages 43081-43082]
[FR Doc No: 2015-17799]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings #2

    Take notice that the Commission received the following exempt
wholesale generator filings:
    Docket Numbers: EG15-105-000.
    Applicants: Prairie Breeze Wind Energy III LLC.
    Description: Notice of Self-Certification of Exempt Wholesale
Generator Status of Prairie Breeze Wind Energy III LLC.
    Filed Date: 7/15/15.
    Accession Number: 20150715-5103.
    Comments Due: 5 p.m. ET 8/5/15.

    Take notice that the Commission received the following electric
rate filings:
    Docket Numbers: ER10-2881-014; ER14-787-002; ER13-1541-008; ER13-
1101-009; ER10-2886-014; ER10-2885-014; ER10-2884-014; ER10-2883-014;
ER10-2882-014; ER10-2663-014; ER10-2641-014; EL15-39-000.
    Applicants: Alabama Power Company, Southern Power Company,
Mississippi Power Company, Georgia Power Company, Gulf Power Company,
Oleander Power Project, Limited Partnership, Southern Company--Florida
LLC, Southern Turner Cimarron I, LLC, Spectrum Nevada Solar, LLC, Campo
Verde Solar, LLC, Macho Springs Solar, LLC.
    Description: Answer of Alabama Power Company, et al., to the April
27, 2015 Order.
    Filed Date: 6/26/15.
    Accession Number: 20150701-0178.

    Comments Due: 5 p.m. ET 8/5/15.

    Docket Numbers: ER14-1485-004.
    Applicants: PJM Interconnection, L.L.C.
    Description: Tariff Amendment: PJM Request to Release Stay in
Docket No. ER14-1485-000 to be effective 6/11/2014.
    Filed Date: 7/15/15.
    Accession Number: 20150715-5088.
    Comments Due: 5 p.m. ET 8/5/15.

    Docket Numbers: ER15-279-001.
    Applicants: Southwest Power Pool, Inc.
    Description: Compliance filing: Compliance Filing--Central Nebraska
Public Power & Irrig. District Stated Rate to be effective 1/1/2015.
    Filed Date: 7/15/15.
    Accession Number: 20150715-5093.
    Comments Due: 5 p.m. ET 8/5/15.

    Docket Numbers: ER15-529-001.
    Applicants: Arizona Public Service Company.
    Description: Compliance filing: OATT Modifications Pursuant to
Order 676-H to be effective 5/15/2015.
    Filed Date: 7/15/15.
    Accession Number: 20150715-5084.
    Comments Due: 5 p.m. ET 8/5/15.

    Docket Numbers: ER15-547-001.
    Applicants: Avista Corporation.
    Description: Compliance filing: Avista Corp OATT Order 676-H
Compliance Filing to be effective 7/16/2015.
    Filed Date: 7/15/15.
    Accession Number: 20150715-5082.
    Comments Due: 5 p.m. ET 8/5/15.

    Docket Numbers: ER15-1419-002.
    Applicants: Emera Maine.
    Description: Compliance filing: Order No. 676-H compliance filing
to be effective 5/15/2015.
    Filed Date: 7/15/15.
    Accession Number: 20150715-5054.
    Comments Due: 5 p.m. ET 8/5/15.

    Docket Numbers: ER15-2207-000.
    Applicants: PJM Interconnection, L.L.C.
    Description: Section 205(d) Rate Filing: First Revised Service
Agreement No. 3915; Queue Y2-042/Z2-104 (WMPA) to be effective 6/19/
2015.
    Filed Date: 7/15/15.
    Accession Number: 20150715-5081.
    Comments Due: 5 p.m. ET 8/5/15.

    Docket Numbers: ER15-2208-000.
    Applicants: ISO New England Inc., New England Power Pool
Participants Committee.
    Description: Section 205(d) Rate Filing: Winter Reliability
Solution to be effective 9/14/2015.
    Filed Date: 7/15/15.
    Accession Number: 20150715-5083.
    Comments Due: 5 p.m. ET 8/5/15.

    Docket Numbers: ER15-2209-000.
    Applicants: Public Service Company of New Mexico.
    Description: Section 205(d) Rate Filing: Certificates of
Concurrence--Multiple ANPP Agreements to be effective 5/24/2012.
    Filed Date: 7/15/15.
    Accession Number: 20150715-5116.
    Comments Due: 5 p.m. ET 8/5/15.

    Docket Numbers: ER15-2210-000.
    Applicants: Public Service Company of New Mexico.
    Description: Tariff Cancellation: Cancellation of Filed Version to
be effective 2/27/2013.
    Filed Date: 7/15/15.
    Accession Number: 20150715-5117.
    Comments Due: 5 p.m. ET 8/5/15.

    Docket Numbers: ER15-2211-000.
    Applicants: MidAmerican Energy Services, LLC.
    Description: Baseline eTariff Filing: Market-Based Rates--Initial
Filing to be effective 9/14/2015.
    Filed Date: 7/15/15.
    Accession Number: 20150715-5125.
    Comments Due: 5 p.m. ET 8/5/15.

    The filings are accessible in the Commission's eLibrary system by
clicking on the links or querying the docket number.
    Any person desiring to intervene or protest in any of the above
proceedings must file in accordance with Rules 211 and 214 of the
Commission's Regulations (18 CFR 385.211 and 385.214) on or before 5:00
p.m. Eastern time on the specified comment date. Protests may be
considered, but intervention is necessary to become a party to the
proceeding.
    eFiling is encouraged. More detailed information relating to filing
requirements, interventions, protests, service, and qualifying
facilities filings can be found at: http://www.ferc.gov/docs-filing/efiling/filing-req.pdf. For other information, call<PHONE_NUMBER>
(toll free). For TTY, call<PHONE_NUMBER>.

    Dated: July 15, 2015.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2015-17799 Filed 7-20-15; 8:45 am]
 BILLING CODE 6717-01-P


% Drinking water exposure
% Child, Body weight set to 12.6 kg
% Dose to reach average blood cpfos conc = 0.004 ug/L
% Cecilia Tan
% August 31, 2016

% Setting model parameters
use human_parameters_MRP
use preg_female_parameters
BWSW=1;		% Set BW to a fixed value
BWST=12.6;	 % Set BW
PREG=0;		% Not pregnant
TSTOP=504;	%Simulation time = 21 days

%21-day exposure
VOLUME=0.68557  % Water consumption volume in L/DAY
EVENTS=6        % Drinking frequency per day
DT = xlsRead("Drinkingwater.xls", "child", "A2:A128") ; % Dosing Times
AMTCDOSE=xlsRead("Drinkingwater.xls", "child", "F2:F128")*VOLUME/EVENTS; % Dose in ug/l

prepare time rbcce
start@nocallback

prepare @clear@all
start @NoCallback
simall = [_time _rbcce _urinetcpy _cv*350.6 _cvo*334.5 _blauc*350.6 _blauco*334.5 _blaucavg*350.6 _blaucoavg*334.5];	%conc unit = ug/L

save simall @file='water_child_cc' @format=ascii


[Federal Register Volume 88, Number 113 (Tuesday, June 13, 2023)]
[Notices]
[Pages 38572-38576]
[FR Doc No: 2023-12579]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. IC-34941; File No. 812-15474]

Credit Suisse Asset Management, LLC., et al.; Notice of
Application and Temporary Order

June 7, 2023.
AGENCY: Securities and Exchange Commission (``Commission'').

ACTION: Temporary order and notice of application for a permanent order
under section 9(c) of the Investment Company Act of 1940 (``Act'').

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

Summary of Application:  Applicants have applied for an order exempting
them from section 9(a) of the Act with respect to the Injunction (as
defined below) entered against Credit Suisse Securities (USA) LLC
(``CSSU''), Credit Suisse First Boston Mortgage Securities Corp.
(``CSFB''), and DLJ Mortgage Capital, Inc. (``DLJ'', and together with
CSSU and CSFB, the ``Settling Entities'' and each a ``Settling
Entity'') on October 24, 2022, by the Superior Court of New Jersey
(``New Jersey Court''), in connection with a consent order between the
Settling Entities and the Acting Attorney General of New Jersey, on
behalf of the Acting Chief of the New Jersey Bureau of Securities
(``Bureau'') until the Commission takes final action on an application
for a time-limited order exempting them from section 9(a) of the Act
(``Time-Limited Exemption''). Upon the expiration of the Time-Limited
Exemption, Applicants will be disqualified from engaging in Fund
Servicing Activities (defined below). Applicants, on behalf of UBS
Covered Persons (defined below), also have applied for a temporary
exemption from section 9(a) of the Act until the Commission takes final
action on an application for a permanent order exempting them from
section 9(a) of the Act (the ``Permanent Order''). The temporary order
is set forth herein (the ``Temporary Order'' and, together with the
Time-Limited Exemption and the Permanent Order, the ``Orders'').

Applicants:  Credit Suisse Securities (USA) LLC (``CSSU''), Credit
Suisse First Boston Mortgage Securities Corp. (``CSFB''), DLJ Mortgage
Capital, Inc. (``DLJ''), Credit Suisse Asset Management, LLC
(``CSAM''), Credit Suisse Asset Management Limited (``CSAML'') and
Credit Suisse AG (``CSAG'').\1\
---------------------------------------------------------------------------

    \1\ CSAG is a party to the application solely for purposes of
making the representations and agreeing to the conditions in the
application that apply to it. For such purpose, it is included in
the term ``Applicants'' solely with respect to such representations
and conditions.

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

---------------------------------------------------------------------------
Filing Date:  The application was filed on June 7, 2023.

Hearing or Notification of Hearing:  The Temporary Order will be
effective until such time as the Commission takes final action on the
application (or, in the case of the Time-Limited Exemption, until it
expires by its terms, if sooner) by issuing an order granting the
requested relief, unless the Commission orders a hearing. Interested
persons may request a hearing on any application by emailing the
Commission's Secretary at [email protected] and serving the
Applicants with a copy of the request by email, if an email address is
listed for the relevant Applicant below, or personally or by mail, if a
physical address is listed for the relevant Applicant below. Hearing
requests should be received by the Commission by 5:30 p.m. on July 3,
2023, and should be accompanied by proof of service on the Applicants,
in the form of an affidavit, or, for lawyers, a certificate of service.
Pursuant to rule 0-5 under the Act, hearing requests should state the
nature of the writer's interest, any facts bearing upon the
desirability of a hearing on the matter, the reason for the request,
and the issues contested. Persons who wish to be notified of a hearing
may request notification by emailing the Commission's Secretary.

ADDRESSES: The Commission: [email protected]. Applicants: Neal
Heble and Lou Anne McInnis, Credit Suisse Asset Management, LLC, Eleven
Madison Avenue, New York, NY 10010; Barry P. Barbash, Justin L.
Browder, and Bissie K. Bonner, Willkie Farr & Gallagher LLP, 787
Seventh Avenue, New York, NY 10019.

FOR FURTHER INFORMATION CONTACT: Toyin Momoh, Senior Counsel, or Trace
W. Rakestraw, Senior Special Counsel, at<PHONE_NUMBER> (Division of
Investment Management, Chief Counsel's Office).

SUPPLEMENTARY INFORMATION: The following is a temporary order and a
summary of the application. For Applicants' representations, legal
analysis, and conditions, please refer to the application, dated June
7, 2023, which may be obtained via the Commission's website by
searching for the file number at the top of this document, or for an
Applicant using the Company name search field, on the SEC's EDGAR
system. The SEC's EDGAR system may be searched at https://www.sec.gov/edgar/searchedgar/legacy/companysearch.html. You may also call the
SEC's Office of Investor Education and Advocacy at<PHONE_NUMBER>.

Applicants' Representations

    1. DLJ, a corporation organized under the laws of Delaware, is
licensed as a mortgage seller/servicer by the U.S. Department of
Housing and Urban Development and Fannie Mae. DLJ is an indirect
wholly-owned subsidiary of CSAG (defined below). Its principal activity
is buying, selling and servicing residential mortgage whole loans.
    2. CSFB, a limited liability company organized under the laws of
Delaware, was created to form trusts to issue and sell collateralized
mortgage obligations and pass-through certificates collateralized by
Government National Mortgage Association, Federal National Mortgage
Association, Federal Home Loan Mortgage Association and conventional
residential mortgage whole loans. CSFB is an indirect wholly-owned
subsidiary of CSAG (defined below).
    3. CSAM, a limited liability company formed under Delaware law, is
registered as an investment adviser under the Investment Advisers Act
of 1940 (the ``Advisers Act''). CSAM serves as investment adviser
(either as primary investment adviser or as investment sub-adviser) to
each Fund \2\ listed in Part 1 of Appendix A of the application.
---------------------------------------------------------------------------

    \2\ The term ``Fund'' as used herein refers to any investment
company that is registered under the Act (``RIC''), employees'
securities companies (``ESC''), or investment company that has
elected to be treated as a business development company under the
Act (``BDC''), for which a Fund Servicing Applicant currently
provides Fund Servicing Activities, or for which a UBS Covered
Person, subject to the terms and conditions of the Orders, may in
the future provide Fund Servicing Activities.
---------------------------------------------------------------------------

    4. CSAML, a corporation formed under the laws of the United
Kingdom, is registered as an investment adviser under the Advisers Act.
CSAML serves as investment sub-adviser to the Fund listed in Part 2 of
Appendix A of the application.
    5. CSSU, a limited liability company formed under Delaware law, is
registered as a broker-dealer under the Securities Exchange Act of
1934, as amended (the ``Exchange Act''), and as an investment adviser
under the Advisers Act. CSSU serves as principal underwriter to each
Open-End Fund listed in Part 3 of Appendix A of the application.
    6. Each of the above Applicants is either a direct or indirect
wholly owned subsidiary of CSAG (CSAG, together with its wholly-owned
subsidiaries and affiliated entities, ``Credit Suisse''). CSAG is a
wholly owned subsidiary, and the principal operating subsidiary, of
Credit Suisse Group AG (``CS Group''), which operates as a holding
company. Credit Suisse Holdings (USA), Inc. (``CS Holdings USA'') is a
wholly owned subsidiary of CSAG, and serves as the holding company for
Credit Suisse's U.S. entities, including Applicants. Both CS Group and
CSAG are corporations organized under the laws of Switzerland. Upon the
Transaction (as defined below), CS Group will merge with and into UBS
Group AG (``UBS'') resulting in UBS remaining as the surviving company.
Upon the Merger, UBS Covered Persons will become Affiliated Persons (as
defined below) of the Settling Entities.
    7. Currently, CSAM, CSAML and CSSU (together, the ``Fund Servicing
Applicants''), collectively serve as investment adviser or investment
sub-adviser to RICs or series of such companies and ESCs and as
principal underwriter to open-end management investment companies
registered under the Act (``Open-End Funds'') (such activities,
collectively, ``Fund Servicing Activities'').\3\ CSSU is a Settling
Entity, and CSAM and CSAML are Affiliated Persons of the Settling
Entities.
---------------------------------------------------------------------------

    \3\ Other than the Fund Servicing Applicants, no existing
company of which the Settling Entities are an ``affiliated person''
within the meaning of Section 2(a)(3) of the Act currently serves as
an investment adviser or depositor of any RIC, ESC or BDC, or as
principal underwriter for any Open-End Fund, registered unit
investment trust (``UIT''), or registered face-amount certificate
company (``FACC''). Section 2(a)(3) of the Act defines ``affiliated
person'' to include, among others, any person directly or indirectly
controlling, controlled by, or under common control with, the other
person (``Affiliated Person''). The term ``Fund Servicing
Activities,'' as it relates to the UBS Covered Persons (defined
below), refers to each of the capacities identified in Section 9(a)
of the Act in which a UBS Covered Person currently serves or may
serve in the future.
---------------------------------------------------------------------------

    8. Applicants request that any relief granted by the Commission
pursuant to the application also apply to ``UBS Covered Persons'' which
means: (i) any existing company of which an Applicant becomes an
Affiliated Person upon the closing of the transactions (collectively,
the ``Transaction'') contemplated under the merger agreement entered
into by and among CS Group and UBS, dated as of March 19, 2023 (the
``Merger Agreement'') (but excluding any company, any Affiliated Person
of which is an Applicant as of the date of the application); and (ii)
any company of which an Applicant becomes an Affiliated Person
following the closing of the Transaction (but excluding any company,
any Affiliated Person of which is an Applicant as of the date of the
application).\4\
---------------------------------------------------------------------------

    \4\ The term ``CS Covered Persons'' refers collectively to
Applicants and their Affiliated Persons as of the date of the
application (with the exception of CS Group). CSAG and CS Group do
not and will not serve as investment adviser, depositor or principal
underwriter to any RIC, ESC or BDC. UBS Covered Persons may, if the
Order is granted, in the future act in any of the capacities
contemplated by section 9(a) of the Act. Any existing or future
entities that may rely on the Orders in the future will comply with
the terms and conditions of the application.

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

    9. On December 17, 2013, the Bureau filed a complaint in the New
Jersey Court in the action captioned Ruotolo v. Credit Suisse
Securities (USA) LLC, et al., Docket No. MER-C-137-13 (N.J. Sup. Ct.)
alleging that CSSU, FBMSC and DLJ violated the New Jersey Uniform
Securities Law (``New Jersey Securities Law'') in connection with the
offer, sale, or purchase of residential mortgage-backed securities
(``RMBS'') prior to the global financial crisis of 2008.
    10. On October 24, 2022, the New Jersey Court entered the Consent
Order and Final Judgment (``Consent Judgment''), negotiated and
submitted by the parties, which, in relevant part, ordered that, under
N.J.S.A. 49:3-69, the Settling Entities ``shall not violate'' the New
Jersey Securities Law (the ``Injunction''). On the following day, the
Bureau entered a related Administrative Consent Order (``ACO'') which
includes findings of fact by the Bureau, to which the Settling Entities
neither admitted nor denied.

Applicants' Legal Analysis

    1. Section 9(a)(2) of the Act provides, in pertinent part, that a
person may not serve or act as, among other things, an investment
adviser or depositor of any registered investment company or as
principal underwriter for any registered open-end investment company,
UIT, or FACC, if such person ``. . . by reason of any misconduct, is
permanently or temporarily enjoined by order, judgment, or decree of
any court of competent jurisdiction from acting as an underwriter,
broker, dealer, investment adviser, municipal securities dealer,
government securities broker, government securities dealer, bank,
transfer agent, credit rating agency or entity or person required to be
registered under the Commodity Exchange Act, or as an affiliated
person, salesman, or employee of any investment company, bank,
insurance company, or entity or person required to be registered under
the Commodity Exchange Act, or from engaging in or continuing any
conduct or practice in connection with any such activity or in
connection with the purchase or sale of any security.'' Section 9(a)(3)
of the Act makes the prohibitions of section 9(a)(2) applicable to a
company, any Affiliated Person of which has been disqualified under the
provisions of section 9(a)(2). Applicants and, upon closing of the
Transaction, UBS Covered Persons would be precluded pursuant to
Sections 9(a)(2) and 9(a)(3) of the Act from acting in the capacities
specified in Section 9(a).
    2. Section 9(c) of the Act provides that: ``[t]he Commission shall
by order grant [an] application [for relief from the prohibitions of
subsection 9(a)], either unconditionally or on an appropriate temporary
or other conditional basis, if it is established [i] that the
prohibitions of subsection 9(a), as applied to such person, are unduly
or disproportionately severe or [ii] that the conduct of such person
has been such as not to make it against the public interest or the
protection of investors to grant such application.'' Applicants have
filed an application pursuant to section 9(c) seeking a Temporary
Order, a Time-Limited Exemption (with respect to Applicants) and a
Permanent Order (with respect to UBS Covered Persons) exempting them
from the disqualification provisions of section 9(a) of the Act.
    3. Applicants believe they meet the standards for exemption
specified in section 9(c) for the Time-Limited Exemption. Applicants
argue that the Time-Limited Exemption is necessary to complete the
transition of Fund Servicing Activities to other service providers and/
or to restructure their businesses so they may provide Fund Servicing
Activities without being subject to a section 9(a) disqualification
(``CS Fund Servicing Restructuring'').
    4. Applicants assert that, absent the Time-Limited Exemption, the
prohibitions of Section 9(a) would be unduly or disproportionately
severe, and that the Conduct did not constitute conduct that would make
it against the protection of investors or the public interest to grant
the Time-Limited Exemption. Applicants point out that a continuing
Disqualification would deprive the Funds they serve of the advisory or
sub-advisory and underwriting services that shareholders expected the
Funds would receive when they decided to invest in the Funds.
Applicants also assert that the effects of a Disqualification prior to
CS Fund Servicing Restructuring could operate to the financial
detriment of the Funds and their shareholders, including by causing the
Funds to spend time and resources to engage substitute advisers,
subadvisers, and principal underwriters, which would be an unduly and
disproportionately severe consequence given that it would result from
Conduct which occurred over 15 years ago, and was unrelated to any
Funds or to any Fund Servicing Activities provided by Fund Servicing
Applicants, which occurred within a distinctly separate and currently
inactive business operation of Credit Suisse.
    5. Applicants assert that if the Fund Servicing Applicants were not
granted the Time-Limited Exemption, the effect on their businesses and
employees would be severe. Applicants state that the Fund Servicing
Applicants have committed substantial capital and other resources to
establishing expertise in advising and sub-advising Funds with a view
to continuing and expanding this business. Similarly, Applicants
represent that if CSSU were unable to obtain the Time-Limited Exemption
they have requested, the effect on its current business and employees
would be significant. CSSU has committed substantial resources to
establish expertise in underwriting the securities of the Funds that
are Open-End Funds and to establish distribution arrangements for Open-
End Fund shares. Applicants further state that prohibiting the Fund
Servicing Applicants from engaging in Fund Servicing Activities prior
to the CS Fund Servicing Restructuring would not only adversely affect
their business, but would also adversely affect their employees who are
involved in these activities.
    6. In support of their application, Applicants assert that the
Conduct did not involve any Fund Servicing Applicants in their
performance of the Fund Servicing Activities.\5\ Instead, the
Applicants state that the CSSU personnel involved in the Conduct were
not associated or involved in any way with the business unit providing
underwriting and distribution services to the Funds.
---------------------------------------------------------------------------

    \5\ FBMSC and DLJ each does not and will not serve in any of the
capacities described in Section 9(a) of the Act, and CSSU's Fund
Servicing Activities will continue to be separate, during the 12
months from the date of the closing of the Transaction, from its
other internal business units.
---------------------------------------------------------------------------

    7. Applicants represent that: (i) none of the current or former
directors, officers or employees of Applicants (other than certain
current and former personnel of the Settling Entities who were not and
are not involved in Fund Servicing Activities) had any involvement in
the Conduct; (ii) no current or former director, officer, or employee
of the Settling Entities or any CS Covered Person who previously has
been or who subsequently may be identified by the Settling Entities or
any U.S. or non-U.S. regulatory or enforcement agencies as having been
responsible for the Conduct will be an

officer, director, or employee of any Applicant, CSAG, and of any UBS
Covered Person (except that any employees of CSSU involved in the
Conduct may continue to be employed by CSSU prior to and following the
closing of the Transaction but will not be allowed to participate in
any Fund Servicing Activity of any Applicant); (iii) such directors,
officers, and employees and any other persons who otherwise were
involved in the Conduct have had no, and will not have any future,
involvement in Applicants', CSAG or UBS Covered Persons' activities in
any capacity described in Section 9(a) of the Act; and (iv) because the
directors, officers and employees of Applicants (other than certain
current and former personnel of the Settling Entities who were not
involved in any Fund Servicing Activities) did not engage in the
Conduct, shareholders of the Funds were not affected any differently
than if those Funds had received services from any other non-affiliated
investment adviser or principal underwriter.\6\
---------------------------------------------------------------------------

    \6\ Applicants state that this representation with respect to
the UBS Covered Persons is made based on the actual knowledge of UBS
as of the date of the application. Within 180 days from the issuance
of the Orders, UBS will conduct a review reasonably designed to
ensure the accuracy of this representation with respect to the UBS
Covered Persons.
---------------------------------------------------------------------------

    8. In addition, each Settling Entity will comply in all material
respects with the material terms and conditions of the Consent Judgment
and ACO as such terms and conditions are applicable to it. In addition,
Applicants will provide written notification to the Chief Counsel of
the Commission's Division of Investment Management with a copy to the
Chief Counsel of the Commission's Division of Enforcement of a material
violation of the terms and conditions of the Orders, Consent Judgment
and ACO within 30 days of discovery of the material violation.
    9. Applicants further state that Credit Suisse has undertaken
certain other remedial measures, as described in greater detail in the
application. These include three types of remedial measures: (i)
selling a significant portion of its business engaged in sponsoring and
underwriting RMBS to an entity that is not an Affiliated Person of
Applicants or the CS Covered Persons; (ii) implementing a number of
enhancements to the mortgage securitization process to incorporate
stronger business practices; and (iii) industry-wide reforms designed
to address the Conduct.
    10. Applicants represent that Credit Suisse has developed enhanced
policies and procedures for considering potential collateral
consequences associated with the settlement of matters involving
regulators and law enforcement authorities. This process requires the
engagement of outside counsel to complete a collateral consequences
analysis in advance of all anticipated settlements with regulators and
law enforcement authorities, regardless of the form of resolution, to
ensure that any potential disqualifications are promptly identified and
proactively addressed.
    11. Applicants represent that upon closing of the Transaction,
section 9(a)(3) of the Act would make it unlawful for the UBS Covered
Persons to conduct Fund Servicing Activities. Applicants argue that
such an outcome would force UBS to incur significant damage to its
existing business as a result of completing the merger, all based on
conduct that was outside of UBS' control, that UBS entities and
employees were not involved in, and long pre-dated the Transaction.
Applicants assert that the prohibitions of section 9(a), as applied to
UBS Covered Persons, are unduly or disproportionately severe.
    12. Applicants also have agreed that Applicants, CSAG and UBS
Covered Persons (in the case of UBS Covered Persons, in respect of Fund
Servicing Activities) will not employ any person that has been or
subsequently may be identified by the Settling Entities or any U.S. or
non-U.S. regulatory or enforcement agencies as having been responsible
for the Conduct in any capacity without first making a further
application to the Commission pursuant to Section 9(c).\7\
---------------------------------------------------------------------------

    \7\ Applicants represent that any employees of CSSU involved in
the Conduct may continue to be employed by CSSU prior to and
following the closing of the Transaction but will not be allowed to
participate in any Fund Servicing Activity of any Applicant.
---------------------------------------------------------------------------

    13. Further, Applicants have agreed that each of the CS Covered
Persons and UBS Covered Persons will adopt and implement policies and
procedures reasonably designed to ensure that it will comply with the
terms and conditions of the Orders granted under section 9(c).
    14. As a result of the foregoing, the Applicants submit that absent
relief, the prohibitions of section 9(a) as applied to the UBS Covered
Persons would be unduly or disproportionately severe, and that the
Conduct did not constitute conduct that would make it against the
public interest or protection of investors to grant the exemption to
the UBS Covered Persons.
    15. Certain of the Applicants and their affiliates have previously
applied for exemptive orders under section 9(c) of the Act, as
described in greater detail in the application.

Applicants' Conditions

    Applicants agree that any order granted by the Commission pursuant
to the application will be subject to the following conditions:
    1. Any Order, if granted, shall only become effective upon the
closing of the Transaction.
    2. Any temporary exemption granted pursuant to the application will
be without prejudice to, and will not limit the Commission's rights in
any manner with respect to, any Commission investigation of, or
administrative proceedings involving or against, CS Covered Persons or
UBS Covered Persons, including, without limitation, the consideration
by the Commission of a permanent exemption from Section 9(a) of the Act
requested pursuant to the application or the revocation or removal of
any temporary exemptions granted under the Act in connection with the
application.
    3. Applicants, CSAG and UBS Covered Persons (in the case of UBS
Covered Persons, in respect of Fund Servicing Activities) will not
employ any person that has been or subsequently may be identified by
the Settling Entities or any U.S. or non-U.S. regulatory or enforcement
agencies as having been responsible for the Conduct in any capacity
without first making a further application to the Commission pursuant
to Section 9(c), except that any employees of CSSU involved in the
Conduct may continue to be employed by CSSU prior to and following the
closing of the Transaction but will not be allowed to participate in
any Fund Servicing Activity of any Applicant.
    4. Each of the CS Covered Persons and UBS Covered Persons will
adopt and implement policies and procedures reasonably designed to
ensure that it will comply with the terms and conditions of the Orders
applicable to it within 60 days of the date of the Permanent Order.
    5. Each Settling Entity will comply in all material respects with
the material terms and conditions of the Consent Judgment and the ACO
as such terms and conditions are applicable to it.
    6. Applicants will provide written notification to the Chief
Counsel of the Commission's Division of Investment Management with a
copy to the Chief Counsel of the Commission's Division of Enforcement
of a material violation of the terms and conditions of the Orders,
Consent Judgment, and ACO within 30

days of discovery of the material violation.
    7. The Time-Limited Exemption will remain in place for 12 months
from the date of the closing of the Transaction.
    8. Within 30 days of the expiration of the Time-Limited Exemption,
Applicants will submit a report, signed by the chief executive officer
of CS Holdings USA, to the Chief Counsel of the Commission's Division
of Investment Management, describing (i) the findings of the internal
compliance review concerning the process for assessing collateral
consequences described in Section IV.G of the application and any steps
taken to address areas for improvement identified in those findings and
(ii) the steps that the Fund Servicing Applicants have taken since the
date of the Time-Limited Exemption to foster a culture of compliance,
as further described in Section IV.G of the application.
    9. As a condition of the Temporary Order, Applicants will hold in a
segregated account, amounts equal to all fees payable by the Funds to
the Fund Servicing Applicants for the period from October 24, 2022
through the date upon which the Commission grants the Temporary Order.
Amounts placed in the segregated account will be released from the
account after the Commission has acted on the application for the
Permanent Order.

Temporary Order

    The Commission has considered the matter and finds that Applicants
have made the necessary showing to justify granting a temporary
exemption.
    Accordingly,
    It is hereby ordered, pursuant to section 9(c) of the Act, that the
Applicants and UBS Covered Persons are granted a temporary exemption
from the provisions of section 9(a), effective as of the date of the
closing of the Transaction, solely with respect to the Injunction,
subject to the representations and conditions in the application, until
the Commission takes final action on their application (or, in the case
of the Time-Limited Exemption, until it expires by its terms, if
sooner).

    By the Commission.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-12579 Filed 6-12-23; 8:45 am]
BILLING CODE 8011-01-P


(2) Demand for information. A demand for information requires a
person to furnish to a duly authorized representative of the Department
of Commerce any information necessary or appropriate to the enforcement
or the administration of the Defense Production Act, the Selective
Service Act, or this part.
    (3) Inspection authorizations. An inspection authorization requires
a person to permit a duly authorized representative of the Department
of Commerce to interview the person's employees or agents, to inspect
books, records, documents, other writings and information in the
person's possession or control at the place where that person usually
keeps them, and to inspect a person's property when such interviews and
inspections are necessary or appropriate to the enforcement or the
administration of the Defense Production Act, the Selective Service
Act, or this part.
    (d) The production of books, records, documents, other writings and
information will not be required at any place other than where they are
usually kept if, prior to the return date specified in the
administrative subpoena or demand for information, a duly authorized
official of the Department of Commerce is furnished with copies of such
material that are certified under oath to be true copies. As an
alternative, a person may enter into a stipulation with a duly
authorized official of the Department of Commerce as to the content of
the material.
    (e) An administrative subpoena, demand for information, or
inspection authorization shall include the name, title or official
position of the person to be served, the evidence sought to be adduced,
and its general relevance to the scope and purpose of the audit,
investigation, or other inquiry. If employees or agents are to be
interviewed; if books, records, documents, other writings, or
information are to be produced; or if property is to be inspected; the
administrative subpoena, demand for information, or inspection
authorization will describe them with particularity.
    (f) Service of documents shall be made in the following manner:
    (1) Service of a demand for information or inspection authorization
shall be made personally, or by certified mail--return receipt
requested at the person's last known address. Service of an
administrative subpoena shall be made personally. Personal service may
also be made by leaving a copy of the document with someone at least 18
years of age at the person's last known dwelling or place of business.
    (2) Service upon other than an individual may be made by serving a
partner, corporate officer, or a managing or general agent authorized
by appointment or by law to accept service of process. If an agent is
served, a copy of the document shall be mailed to the person named in
the document.
    (3) Any individual 18 years of age or older may serve an
administrative subpoena, demand for information, or inspection
authorization. When personal service is made, the individual making the
service shall prepare an affidavit as to the manner in which service
was made and the identity of the person served, and return the
affidavit, and in the case of subpoenas, the original document, to the
issuing officer. In case of failure to make service, the reasons for
the failure shall be stated on the original document.
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42. Section 700.72 is amended by revising the first sentence of
paragraph (a) to read as follows:

Sec.  700.72  Compulsory process.

    (a) If a person refuses to permit a duly authorized representative
of the Department of Commerce to have access to any premises or source
of information necessary to the administration or enforcement of the
Defense Production Act or this part, the Department of Commerce may
seek compulsory process. * * *
* * * * *
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43. Section 700.73 is revised to read as follows:

Sec.  700.73  Notification of failure to comply.

    (a) At the conclusion of an audit, investigation, or other inquiry,
or at any other time, the Department of Commerce may inform the person
in writing where compliance with the requirements of the Defense
Production Act, the Selective Service Act and related statutes, or this
part were not met.
    (b) In cases where the Department of Commerce determines that
failure to comply with the provisions of the Defense Production Act,
the Selective Service Act and related statutes, or this part was
inadvertent, the person may be informed in writing of the particulars
involved and the corrective action to be taken. Failure to take
corrective action may then be construed as a willful violation of the
Defense Production Act, this part, or an official action.
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44. Section 700.74 is amended by revising paragraphs (a), (b), (c)(1),
(c)(2) and (c)(3) to read as follows:

Sec.  700.74  Violations, penalties, and remedies.

    (a) Willful violation of the provisions of Title I or Sections 705
or 707 of the Defense Production Act, the priorities provisions of the
Selective Service Act and related statutes or this part is a crime and
upon conviction, a person may be punished by fine or imprisonment, or
both. The maximum penalty provided by the Defense Production Act is a
$10,000 fine, or one year in prison, or both. The maximum penalty
provided by the Selective Service Act is a $50,000 fine, or three years
in prison, or both.
    (b) The government may also seek an injunction from a court of
appropriate jurisdiction to prohibit the continuance of any violation
of, or to enforce compliance with, the Defense Production Act, this
part, or an official action.
    (c) * * *
    (1) No person may solicit, influence or permit another person to
perform any act prohibited by, or to omit any act required by, the
Defense Production Act, this part, or an official action.
    (2) No person may conspire or act in concert with any other person
to perform any act prohibited by, or to omit any act required by, the
Defense Production Act, this part, or an official action.
    (3) No person shall deliver any item if the person knows or has
reason to

believe that the item will be accepted, redelivered, held, or used in
violation of the Defense Production Act, this part, or an official
action. In such instances, the person must immediately notify the
Department of Commerce that, in accordance with this section, delivery
has not been made.
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45. Section 700.80 is amended by revising paragraphs (a)(1) and (2),
(b), and (c), and by revising the parenthetical sentence at the end of
paragraph (d) to read as follows:

Sec.  700.80  Adjustments or exceptions.

    (a) * * *
    (1) A provision of this part or an official action results in an
undue or exceptional hardship on that person not suffered generally by
others in similar situations and circumstances; or
    (2) The consequence of following a provision of this part or an
official action is contrary to the intent of the Defense Production
Act, the Selective Service Act and related statutes, or this part.
    (b) Each request for adjustment or exception must be in writing and
contain a complete statement of all the facts and circumstances related
to the provision of this part or official action from which adjustment
is sought and a full and precise statement of the reasons why relief
should be provided.
    (c) The submission of a request for adjustment or exception shall
not relieve any person from the obligation of complying with the
provision of this part or official action in question while the request
is being considered unless such interim relief is granted in writing by
the Office of Strategic Industries and Economic Security. The Office of
Strategic Industries and Economic Security shall respond to requests
for adjustment of or exceptions to compliance with the provisions of
this part or an official action within 25 (twenty-five) days, not
including Saturdays, Sundays or Government holidays, of the date of
receipt.
    (d) * * * (For information on the appeal procedure, see Sec.
700.81.)
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46. Section 700.81 is amended by revising paragraphs (a), (b), and (g),
to read as follows:

Sec.  700.81  Appeals.

    (a) Any person who has had a request for adjustment or exception
denied by the Office of Strategic Industries and Economic Security
under Sec.  700.80, may appeal to the Assistant Secretary for Export
Administration, Department of Commerce, who shall review and reconsider
the denial. Such appeals should be submitted to the Office of the
Assistant Secretary for Export Administration, Bureau of Industry and
Security, Department of Commerce, Room 3886, Washington, DC 20230, Ref:
DPAS Appeals.
    (b) Appeals of denied requests for exceptions from or adjustments
to compliance with the provisions of this part or an official action
must be received by the Assistant Secretary for Export Administration
no later than 45 days after receipt of a written notice of denial from
the Office of Strategic Industries and Economic Security. After this
45-day period, an appeal may be accepted at the discretion of the
Assistant Secretary for Export Administration.
* * * * *
    (g) The submission of an appeal under this section shall not
relieve any person from the obligation of complying with the provision
of this part or official action in question while the appeal is being
considered, unless such relief is granted in writing by the Assistant
Secretary for Export Administration.
* * * * *

Sec.  700.90  [Amended]

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47. Section 700.90 is amended by removing the word ``regulation'' and
adding in its place the word ``part''.

Sec.  700.91  [Amended]

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48. Section 700.91 is amended by:
0
a. Removing the word ``regulation'' wherever it appears and adding in
its place the word ``part'';
0
b. Adding the phrase ``the Department of'' immediately preceding the
word ``Commerce'' wherever it appears; and
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c. Removing ``705(e)'' and adding in its place ``705(d)'' wherever it
appears.

Sec.  700.92  [Amended]

0
49. Section 700.92 is amended by:
0
a. Removing the word ``regulation'' wherever it appears in the heading
and in paragraphs (a), (b) and (c) and adding in its place the word
``part'';
0
b. Adding the phrase ``the Department of'' immediately preceding the
word ``Commerce'' wherever it appears; and
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c. Removing the phrase ``the regulations'' and adding in its place
``any provision of this part'' in the first sentence of paragraph (d).

Sec.  700.93  [Amended]

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50. Section 700.93 is revised to read as follows:

Sec.  700.93  Communications.

    General communications concerning this part, including how to
obtain copies of this part and explanatory information, requests for
guidance or clarification, may be addressed to the Office of Strategic
Industries and Economic Security, Room 3876, Department of Commerce,
Washington, DC 20230, Ref: DPAS; telephone<PHONE_NUMBER>, email
<EMAIL_ADDRESS>Request for priorities assistance under Sec.  700.50,
adjustments or exceptions under Sec.  700.80 of this part or appeals
under Sec.  700.81, must be submitted in the manner specified in those
sections.
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51. Schedule I to part 700 is revised to read as follows:

Schedule I to Part 700--Approved Programs and Delegate Agencies

    The programs listed in this schedule have been approved for
priorities support under this part by the Department of Defense,\1\ the
Department of Energy or the Department of Homeland Security, in
accordance with section 202 of Executive Order 13603. They have equal
preferential status. The Department of Commerce has authorized the
delegate agencies listed in the third column to use this part in
support of those programs assigned to them, as indicated below.\2\
---------------------------------------------------------------------------

    \1\ Department of Defense includes: The Office of the Secretary
of Defense, the Military Departments, the Joint Staff, the Combatant
Commands, the Defense Agencies, the Defense Field Activities, all
other organizational entities in the Department of Defense, and, for
purposes of this part, the Central Intelligence Agency and the
National Aeronautics and Space Administration as associated
agencies.
    \2\ The Department of Commerce is also listed as an agency in
the third column for programs where its authorization is necessary
to place rated orders.

----------------------------------------------------------------------------------------------------------------
  Program  identification
          symbol                 Approved program                              Agency(ies)
----------------------------------------------------------------------------------------------------------------
                                                Defense Programs
----------------------------------------------------------------------------------------------------------------
A1........................  Aircraft..................  Department of Defense.
A2........................  Missiles..................  Department of Defense.
A3........................  Ships.....................  Department of Defense.

A4........................  Tank--Automotive..........  Department of Defense.
A5........................  Weapons...................  Department of Defense.
A6........................  Ammunition................  Department of Defense.
A7........................  Electronic and              Department of Defense.
                             communications equipment.
B1........................  Military building supplies  Department of Defense.
B8........................  Production equipment (for   Department of Defense.
                             defense contractor's
                             account).
B9........................  Production equipment        Department of Defense.
                             (Government owned).
C1........................  Food resources (combat      Department of Defense.
                             rations).
C2........................  Department of Defense       Department of Defense.
                             construction.
C3........................  Maintenance, repair, and    Department of Defense.
                             operating supplies (MRO)
                             for Department of Defense
                             facilities.
C9........................  Miscellaneous.............  Department of Defense
----------------------------------------------------------------------------------------------------------------
                                          Military Assistance to Canada
----------------------------------------------------------------------------------------------------------------
D1........................  Canadian military programs  Department of Commerce.
D2........................  Canadian production and     Department of Commerce.
                             construction.
D3........................  Canadian atomic energy      Department of Commerce.
                             program.
----------------------------------------------------------------------------------------------------------------
                                  Military Assistance to Other Foreign Nations
----------------------------------------------------------------------------------------------------------------
G1........................  Certain munitions items     Department of Commerce.
                             purchased by foreign
                             governments through
                             domestic commercial
                             channels for export.
G2........................  Certain direct defense      Department of Commerce.
                             needs of foreign
                             governments other than
                             Canada.
G3........................  Foreign nations (other      Department of Commerce.
                             than Canada) production
                             and construction.
----------------------------------------------------------------------------------------------------------------
                              Critical Infrastructure Assistance to Foreign Nations
----------------------------------------------------------------------------------------------------------------
G4........................  Foreign critical            Department of Commerce.
                             infrastructure programs.
----------------------------------------------------------------------------------------------------------------
                                                  Co-Production
----------------------------------------------------------------------------------------------------------------
J1........................  F-16 Co-Production Program  Departments of Commerce and Defense.
----------------------------------------------------------------------------------------------------------------
                                             Atomic Energy Programs
----------------------------------------------------------------------------------------------------------------
E1........................  Construction..............  Department of Energy.
E2........................  Operations--including       Department of Energy.
                             maintenance, repair, and
                             operating supplies (MRO).
E3........................  Privately owned facilities  Department of Energy.
----------------------------------------------------------------------------------------------------------------
                                            Domestic Energy Programs
----------------------------------------------------------------------------------------------------------------
F1........................  Exploration, production,    Department of Energy.
                             refining, and
                             transportation.
F2........................  Conservation..............  Department of Energy.
F3........................  Construction, repair, and   Department of Energy.
                             maintenance.
----------------------------------------------------------------------------------------------------------------
                                   Other Defense, Energy, and Related Programs
----------------------------------------------------------------------------------------------------------------
H1........................  Certain combined orders     Department of Commerce.
                             (see section 700.17(c)).
H5........................  Private domestic            Department of Commerce.
                             production.
H6........................  Private domestic            Department of Commerce.
                             construction.
H7........................  Maintenance, repair, and    Department of Commerce.
                             operating supplies (MRO).
H8........................  Designated Programs.......  Department of Commerce.
K1........................  Federal supply items......  General Services Administration.
----------------------------------------------------------------------------------------------------------------
                                           Homeland Security Programs
----------------------------------------------------------------------------------------------------------------
N1........................  Federal emergency           Department of Homeland Security.
                             preparedness, mitigation,
                             response, and recovery.
N2........................  State, local, tribal        Department of Homeland Security.
                             government emergency
                             preparedness, mitigation,
                             response, and recovery.
N3........................  Intelligence and warning    Department of Homeland Security.
                             systems.
N4........................  Border and transportation   Department of Homeland Security.
                             security.
N5........................  Domestic counter-           Department of Homeland Security.
                             terrorism, including law
                             enforcement.
N6........................  Chemical, biological,       Department of Homeland Security.
                             radiological, and nuclear
                             countermeasures.
N7........................  Critical infrastructure     Department of Homeland Security.
                             protection and
                             restoration.
N8........................  Miscellaneous.............  Department of Homeland Security.
----------------------------------------------------------------------------------------------------------------

    Dated: January 21, 2014.
Kevin J. Wolf,
Assistant Secretary for Export Administration.
[FR Doc. 2014-01613 Filed 1-30-14; 8:45 am]
BILLING CODE 3510-JT-P