[Federal Register Volume 87, Number 175 (Monday, September 12, 2022)]
[Notices]
[Pages 55887-55889]
[FR Doc No: 2022-19556]

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DEPARTMENT OF TRANSPORTATION

Federal Motor Carrier Safety Administration

[Docket No. FMCSA-2016-0428]

Hours of Service of Drivers: Truck Renting and Leasing
Association, Inc. (TRALA); Application for Exemption Renewal

AGENCY: Federal Motor Carrier Safety Administration (FMCSA), DOT.

ACTION: Notice of provisional renewal of exemption; request for
comments.

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SUMMARY: FMCSA announces its decision to provisionally renew the Truck
Renting and Leasing Association, Inc. (TRALA) exemption from the
provisions that require a motor carrier to install and require each of
its drivers to use an electronic logging device (ELD) to record the
driver's hours-of-service (HOS). The exemption allows drivers of
property carrying commercial motor

vehicles (CMVs) rented for 8 days or less, regardless of reason, to not
use an ELD in the vehicle. These drivers remain subject to the standard
HOS limits and must maintain a paper record of duty status (RODS) if
required. The exemption renewal is for 5 years.

DATES: This renewed exemption is effective October 12, 2022, and
expires on October 12, 2027. Comments must be received on or before
October 12, 2022.

ADDRESSES: You may submit comments identified by Federal Docket
Management System (FDMS) Number FMCSA-2016-0428 by any of the following
methods:
     Federal eRulemaking Portal: www.regulations.gov. See the
Public Participation and Request for Comments section below for further
information.
     Mail: Dockets Operations, U.S. Department of
Transportation, 1200 New Jersey Avenue SE, West Building, Ground Floor,
Room W12-140, Washington, DC 20590-0001.
     Hand Delivery or Courier: West Building, Ground Floor,
Room W12-140, 1200 New Jersey Avenue SE, between 9 a.m. and 5 p.m.
E.T., Monday through Friday, except Federal holidays.
     Fax:<PHONE_NUMBER>.
    Each submission must include the Agency name and the docket number
(FMCSA-2016-0428) for this notice. Note that DOT posts all comments
received without change to www.regulations.gov, including any personal
information included in a comment. Please see the Privacy Act heading
below.
    Docket: For access to the docket to read background documents or
comments, go to www.regulations.gov at any time or visit Room W12-140
on the ground level of the West Building, 1200 New Jersey Avenue SE,
Washington, DC, between 9 a.m. and 5 p.m., ET, Monday through Friday,
except Federal holidays. To be sure someone is there to help you,
please call<PHONE_NUMBER> or<PHONE_NUMBER> before visiting Dockets
Operations.
    Privacy Act: In accordance with 49 U.S.C. 31315(b), DOT solicits
comments from the public to better inform its exemption 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
https://www.transportation.gov/privacy.

FOR FURTHER INFORMATION CONTACT: Mr. Richard Clemente, Driver and
Carrier Operations Division; Office of Carrier, Driver and Vehicle
Safety Standards, FMCSA, at<PHONE_NUMBER> or by email at
[email protected]. If you have questions on viewing or
submitting material to the docket, contact Dockets Operations at (202)
366-9826.

SUPPLEMENTARY INFORMATION:

I. Public Participation and Request for Comments

    FMCSA encourages you to participate by submitting comments and
related materials.

Submitting Comments

    If you submit a comment, please include the docket number for this
notice (FMCSA-2016-0428), indicate the specific section of this
document to which the comment applies, and provide a reason for
suggestions or recommendations. You may submit your comments and
material online or by fax, mail, or hand delivery, but please use only
one of these means. FMCSA recommends that you include your name and a
mailing address, an email address, or a phone number in the body of
your document so the Agency can contact you if it has questions
regarding your submission.
    To submit your comment online, go to www.regulations.gov and put
the docket number (``FMCSA-2016-0428'') in the ``Keyword'' box, and
click ``Search.'' When the new screen appears, click on the ``Comment
Now!'' button and type your comment into the text box in the following
screen. Choose whether you are submitting your comment as an individual
or on behalf of a third party and then submit. If you submit your
comments by mail or hand delivery, submit them in an unbound format, no
larger than 8\1/2\ by 11 inches, suitable for copying and electronic
filing. If you submit comments by mail and would like to know that they
reached the facility, please enclose a stamped, self-addressed postcard
or envelope. FMCSA will consider all comments and material received
during the comment period.

II. Legal Basis

    FMCSA has authority under 49 U.S.C. 31136(e) and 31315(b)(2) and 49
CFR 381.300(b) to renew an exemption from the Federal Motor Carrier
Safety Regulations for a 5-year period if it finds ``such exemption
would likely achieve a level of safety that is equivalent to, or
greater than, the level that would be achieved absent such exemption.''
TRALA has requested a five-year extension of the current exemption in
Docket No. FMCSA-2016-0428.

III. Background

Current Regulatory Requirements

    Under FMCSA's electronic logging device (ELD) regulations in 49 CFR
395.8(a)(1)(i) a motor carrier subject to the requirements of part 395
must require each driver used by the motor carrier to record the
driver's duty status for each 24-hour period using the method
prescribed in Sec.  395.8(a)(1)(i)-(iv), as applicable. Subject to
Sec.  395.8(a)(1)(ii) and (iii), a motor carrier operating CMVs must
install and require each of its drivers to use an ELD to record the
driver's duty status in accordance with 49 CFR part 395, subpart B, no
later than December 18, 2017.

Application for Renewal of Exemption

    FMCSA published notice of TRALA's initial application for exemption
from 49 CFR 395.8(a)(1)(i) on March 22, 2017 (82 FR 14789) describing
the nature of TRALA's operations and application. FMCSA published a
notice granting TRALA's exemption request on October 11, 2017. TRALA's
current exemption will expire on October 11, 2022 (82 FR 47306). In
granting the exemption, FMCSA found that TRALA would achieve a level of
safety that was equivalent to, or greater than, the level of safety
that would be obtained by complying with the regulation.
    TRALA requests a renewal of the exemption for a 5-year period.

IV. Equivalent Level of Safety

    In granting the original exemption request, FMCSA determined that
exempt drivers and motor carriers would likely achieve a level of
safety equivalent to, or greater than, the level of safety achieved
without the exemption. FMCSA noted in its October 11, 2017, notice that
the Agency believed that an exemption period of up to 8 days for
drivers of rental CMVs would give most carriers sufficient time to
repair or replace their usual vehicles while minimizing any temptation
to extend non-ELD operations. The use of paper RODS would not create an
undue risk of noncompliance when limited to this short period of time.
    The Agency reasoned that the 8-day exemption period coincides with
49 CFR 395.34(d), which allows a driver an 8-day window to use paper
RODS when the motor carrier receives or discovers information about an
ELD malfunction. Furthermore, while operating under this exemption,
drivers would remain subject to the standard HOS limits, maintain a
paper RODS if required, and maintain a copy of the rental agreement on
the vehicle.
    In its June 25, 2022, application for renewal, TRALA describes the
technical and practical difficulties of providing rental CMVs with ELDs
that are compatible with renters' own systems,

and the problems that would be encountered if the renting motor carrier
attempted to use their own ELDs in the rental vehicle. TRALA states
that the exemption will not serve as an incentive for motor carriers to
use short-term rentals to avoid the ELD requirements generally. Short-
term rentals have a substantially higher per day or weekly rental fee
than vehicles leased for longer periods, making it significantly more
costly for companies to continually rent for 8 days at a time over the
long term. TRALA also states that enforcement officers can readily
determine that the vehicle is a short-term rental because drivers are
required to provide a copy of the rental agreement to the officer on
demand.
    FMCSA is unaware of any evidence of a degradation of safety
attributable to the current exemption for TRALA. There is no indication
of an adverse impact on safety while operating under the terms and
conditions specified in the initial exemption. FMCSA concludes that
provisionally extending the original exemption granted on October 11,
2017, for another five years, under the terms and conditions listed
below, will likely achieve a level of safety that is equivalent to, or
greater than, the level of safety achieved without the exemption.

V. Exemption Decision

A. Grant of Exemption

    FMCSA provisionally renews the exemption for a period of five years
subject to the terms and conditions of this decision and the absence of
public comments that would cause the Agency to terminate the exemption
under Sec. V.F. below. The exemption from the requirements of 49 CFR
395.8(a)(1)(i), is otherwise effective October 12, 2022, through
October 12, 2027, 11:59 p.m. local time, unless renewed or rescinded.

B. Applicability of Exemption

    The exemption excuses motor carriers and drivers of property-
carrying CMVs rented for a period of eight days or fewer from the
requirement to install and use an ELD to record the driver's RODS. This
exemption covers a rental period of eight days or fewer, regardless of
reason for the rental.

C. Terms and Conditions

    When operating under this exemption, TRALA and its member company
drivers are subject to the following terms and conditions:
    (1) TRALA and its drivers must comply with all other applicable
Federal Motor Carrier Safety Regulations (49 CFR part 350-399).
    (2) Evidence that a carrier has replaced one rental CMV with
another on eight-day cycles or attempted to renew a rental agreement
for the same CMV for an additional eight days will be regarded as a
violation of the exemption and subject the carrier and driver to the
penalties for failure to use an ELD.
    (3) Drivers must have a copy of this notice in their possession
while operating under the terms of the exemption. The exemption
document must be presented to law enforcement officials upon request.
    (4) Drivers must have a copy of the rental agreement in the CMV,
and make it available to law enforcement officers on request. The
agreement must clearly identify the parties to the agreement, the
vehicle, and the dates of the rental period.
    (5) Drivers must possess copies of their RODS for the current day
and the prior seven days, if required on those days.

D. Preemption

    In accordance with 49 U.S.C. 31315(d), as implemented by 49 CFR
381.600, during the period this exemption is in effect, no State shall
enforce any law or regulation applicable to interstate commerce that
conflicts with or is inconsistent with this exemption with respect to a
firm or person operating under the exemption. States may, but are not
required to, adopt the same exemption with respect to operations in
intrastate commerce.

E. Notification to FMCSA

    Carriers operating under this exemption must notify FMCSA within
five business days of any accident (as defined in 49 CFR 390.5),
involving any of the motor carrier's drivers operating under the terms
of this exemption. The notification must include the following
information:
    (a) Identity of Exemption: ``TRALA''
    (b) Date of the accident,
    (c) City or town, and State, in which the accident occurred, or
closest to the accident scene,
    (d) Driver's name and license number,
    (e) Co-driver's name and license number,
    (f) Vehicle number and State license number,
    (g) Number of individuals suffering physical injury,
    (h) Number of fatalities,
    (i) The police-reported cause of the accident,
    (j) Whether the driver was cited for violation of any traffic laws,
motor carrier safety regulations, and
    (k) The total driving time and total on-duty time period prior to
the accident. Reports filed under this provision shall be emailed to
[email protected].

F. Termination

    FMCSA does not believe the drivers covered by this exemption will
experience any deterioration of their safety record. The exemption will
be rescinded if: (1) Motor carriers and drivers operating under the
exemption fail to comply with the terms and conditions of the
exemption; (2) the exemption has resulted in a lower level of safety
than was maintained before it was granted; or (3) continuation of the
exemption would not be consistent with the goals and objects of 49
U.S.C. 31136(e) and 31315.

VI. Request for Comments

    In accordance with 49 U.S.C. 31315(b), FMCSA requests public
comment from all interested persons on TRALA's application for an
exemption from the provisions in 49 CFR 395.8(a)(1)(i) that require a
motor carrier to install and require each of its drivers to use an ELD
to record the driver's HOS. The exemption allows drivers of property
carrying CMVs rented for 8 days or less, regardless of reason, to not
use an ELD in the vehicle. All comments received before the close of
business on the comment closing date indicated at the beginning of this
notice will be considered and will be available for examination in the
docket at the location listed under the Addresses section of this
notice. Comments received after the comment closing date will be filed
in the public docket and will be considered to the extent practicable.
In addition to late comments, FMCSA will also continue to file, in the
public docket, relevant information that becomes available after the
comment closing date. Interested persons should continue to examine the
public docket for new material.

Robin Hutcheson,
Deputy Administrator.
[FR Doc. 2022-19556 Filed 9-9-22; 8:45 am]
BILLING CODE 4910-EX-P


[Federal Register Volume 81, Number 105 (Wednesday, June 1, 2016)]
[Notices]
[Page 35007]
[FR Doc No: 2016-12845]

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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: EG16-107-000.
    Applicants: Eastern Shore Solar LLC.
    Description: Eastern Shore Solar, LLC submits Notice of Self-
Certification of Exempt Wholesale Generator Status.
    Filed Date: 5/25/16.
    Accession Number: 20160525-5102.
    Comments Due: 5 p.m. ET 6/15/16.

    Take notice that the Commission received the following electric
rate filings:

    Docket Numbers: ER13-2109-005; ER13-2106-005; ER13-2100-001; ER13-
321-005; ER13-434-004; ER16-1750-001.
    Applicants: Fowler Ridge Wind Farm LLC, NedPower Mount Storm, LLC,
Virginia Electric and Power Company, Fairless Energy, LLC, Dominion
Energy Marketing, Inc., Eastern Shore Solar LLC.
    Description: Notice of Change in Status and Request for
Confidential Treatment of the Dominion Companies, et al.
    Filed Date: 5/25/16.
    Accession Number: 20160525-5111.
    Comments Due: 5 p.m. ET 6/15/16.

    Docket Numbers: ER16-1781-000.
    Applicants: Tucson Electric Power Company.
    Description: Sec.  205(d) Rate Filing: Concurrence to APS RS No. 32
to be effective 7/19/2016.
    Filed Date: 5/25/16.
    Accession Number: 20160525-5072.
    Comments Due: 5 p.m. ET 6/15/16.

    Docket Numbers: ER16-1782-000.
    Applicants: Arizona Public Service Company.
    Description: Sec.  205(d) Rate Filing: Service Agreement No. 355 to
be effective 5/3/2016.
    Filed Date: 5/25/16.
    Accession Number: 20160525-5075.
    Comments Due: 5 p.m. ET 6/15/16.

    Docket Numbers: ER16-1783-000.
    Applicants: ITC Midwest LLC.
    Description: Sec.  205(d) Rate Filing: Filing of CIAC Agreement
with MidAmerican to be effective 6/1/2016.
    Filed Date: 5/25/16.
    Accession Number: 20160525-5105.
    Comments Due: 5 p.m. ET 6/15/16.

    Docket Numbers: ER16-1784-000.
    Applicants: PJM Interconnection, L.L.C.
    Description: Sec.  205(d) Rate Filing: Service Agreement Nos. 937,
Third Revised, and 4463, Original Queue No. Z2-108 to be effective 4/
25/2016.
    Filed Date: 5/25/16.
    Accession Number: 20160525-5126.
    Comments Due: 5 p.m. ET 6/15/16.

    Docket Numbers: ER16-1785-000.
    Applicants: New York Independent System Operator, Inc.
    Description: Sec.  205(d) Rate Filing: Operating Agreement between
NYISO and Transco to be effective 5/23/2016.
    Filed Date: 5/25/16.
    Accession Number: 20160525-5141.
    Comments Due: 5 p.m. ET 6/15/16.

    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: May 25, 2016.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2016-12845 Filed 5-31-16; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 78, Number 29 (Tuesday, February 12, 2013)]
[Rules and Regulations]
[Pages 9783-9785]
[FR Doc No: 2013-02724]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. FAA-2012-0725; Directorate Identifier 2011-NM-207-AD;
Amendment 39-17343; AD 2013-03-08]
RIN 2120-AA64

Airworthiness Directives; Bombardier, Inc. Airplanes

AGENCY: Federal Aviation Administration (FAA), Department of
Transportation (DOT).

ACTION: Final rule.

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SUMMARY: We are adopting a new airworthiness directive (AD) for certain
Bombardier, Inc. Model CL-600-1A11 (CL-600), CL-600-2A12 (CL-601), and
CL-600-2B16 (CL-601-3A, CL-601-3R, & CL-604 Variants) airplanes. This
AD was prompted by reports of cracking found on the upper and lower Web
of the engine support beam. This AD requires revising the maintenance
program. We are issuing this AD to detect and correct fatigue cracking
of the engine support beam, which could result in failure of the engine
support beam and affect the structural integrity of the airplane.

DATES: This AD becomes effective March 19, 2013.
    The Director of the Federal Register approved the incorporation by
reference of certain publications listed in this AD as of March 19,
2013.

ADDRESSES: You may examine the AD docket on the Internet at http://www.regulations.gov or in person at the U.S. Department of
Transportation, Docket Operations, M-30, West Building Ground Floor,
Room W12-140, 1200 New Jersey Avenue SE., Washington, DC.

FOR FURTHER INFORMATION CONTACT: Stephen Kowalski, Aerospace Engineer,
Airframe and Mechanical Systems Branch, ANE-171, FAA, New York Aircraft
Certification Office, 1600 Stewart Avenue, Suite 410, Westbury, New
York 11590; telephone<PHONE_NUMBER>; fax<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Discussion

    We issued a notice of proposed rulemaking (NPRM) to amend 14 CFR
part 39 to include an AD that would apply to the specified products.
That NPRM was published in the Federal Register on July 31, 2012 (77 FR
45288). That NPRM proposed to correct an unsafe condition for the
specified products. The Mandatory Continuing Airworthiness Information
(MCAI) states:

    Cracks on the upper and lower Web of the Engine Support Beam
(ESB) have been discovered on two (2) Challenger aeroplanes in
service. Failure of the ESB could adversely affect the structural
integrity of the aeroplane.
    A Temporary Revision (TR) has been made to the Time Limits/
Maintenance Checks (TLMC) manual to introduce a new Airworthiness
Limitations (AWL) task to ensure that fatigue cracking of the ESB is
detected and corrected.
    This [Canadian] directive mandates the incorporation of the new
AWL task.

You may obtain further information by examining the MCAI in the AD
docket.

Comments

    We gave the public the opportunity to participate in developing
this AD. We received no comments on the NPRM (77 FR 45288, July 31,
2012) or on the determination of the cost to the public.

Conclusion

    We reviewed the available data and determined that air safety and
the public interest require adopting the AD as proposed--except for
minor editorial changes. We have determined that these minor changes:
     Are consistent with the intent that was proposed in the
NPRM (77 FR

45288, July 31, 2012) for correcting the unsafe condition; and
     Do not add any additional burden upon the public than was
already proposed in the NPRM (77 FR 45288, July 31, 2012).

Costs of Compliance

    We estimate that this AD will affect 111 products of U.S. registry.
We also estimate that it will take about 1 work-hour per product to
comply with the basic requirements of this AD. The average labor rate
is $85 per work-hour. Based on these figures, we estimate the cost of
this AD to the U.S. operators to be $9,435, or $85 per product.

Authority for This Rulemaking

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

Regulatory Findings

    We determined that this AD will not have federalism implications
under Executive Order 13132. This AD will not have a substantial direct
effect on the States, on the relationship between the national
government and the States, or on the distribution of power and
responsibilities among the various levels of government.
    For the reasons discussed above, I certify that this AD:
    1. Is not a ``significant regulatory action'' under Executive Order
12866;
    2. Is not a ``significant rule'' under the DOT Regulatory Policies
and Procedures (44 FR 11034, February 26, 1979);
    3. Will not affect intrastate aviation in Alaska; and
    4. Will not have a significant economic impact, positive or
negative, on a substantial number of small entities under the criteria
of the Regulatory Flexibility Act.
    We prepared a regulatory evaluation of the estimated costs to
comply with this AD and placed it in the AD docket.

Examining the AD Docket

    You may examine the AD docket on the Internet at http://www.regulations.gov; or in person at the Docket Operations office
between 9 a.m. and 5 p.m., Monday through Friday, except Federal
holidays. The AD docket contains the NPRM (77 FR 45288, July 31, 2012),
the regulatory evaluation, any comments received, and other
information. The street address for the Docket Operations office
(telephone<PHONE_NUMBER>) is in the ADDRESSES section. Comments will
be available in the AD docket shortly after receipt.

List of Subjects in 14 CFR Part 39

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

Adoption of the Amendment

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

PART 39--AIRWORTHINESS DIRECTIVES

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

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

Sec.  39.13  [Amended]

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

2013-03-08 Bombardier, Inc.: Amendment 39-17343. Docket No. FAA-
2012-0725; Directorate Identifier 2011-NM-207-AD.

(a) Effective Date

    This airworthiness directive (AD) becomes effective March 19,
2013.

(b) Affected ADs

    None.

(c) Applicability

    (1) This AD applies to the airplane models specified in
paragraphs (c)(1)(i), (c)(1)(ii), (c)(1)(iii), and (c)(1)(iv) of
this AD, certificated in any category.
    (i) Bombardier, Inc. Model CL-600-1A11 (CL-600), serial numbers
1004 through 1085 inclusive.
    (ii) Bombardier, Inc. Model CL-600-2A12 (CL-601), serial numbers
3001 through 3066 inclusive.
    (iii) Bombardier, Inc. Model CL-600-2B16 (CL-601-3A and CL-601-
3R Variants), serial numbers 5001 through 5194 inclusive.
    (iv) Bombardier, Inc. Model CL-600-2B16 (CL-604 Variants),
serial numbers 5301 through 5665 inclusive, and 5701 and subsequent.
    (2) This AD requires revisions to certain operator maintenance
documents to include new inspections. Compliance with these
inspections is required by 14 CFR 91.403(c). For airplanes that have
been previously modified, altered, or repaired in the areas
addressed by these inspections, the operator may not be able to
accomplish the inspections described in the revisions. In this
situation, to comply with 14 CFR 91.403(c), the operator must
request approval for an alternative method of compliance according
to paragraph (j) of this AD. The request should include a
description of changes to the required inspections that will ensure
the continued damage tolerance of the affected structure. The FAA
has provided guidance for this determination in FAA Advisory
Circular (AC) 25.1529-1A, dated November 20, 2007 (http://rgl/
Regulatory--and--Guidance--Library/rgAdvisoryCircular.nsf/0/
E4111B5537E0B345862573B0006FA23B?OpenDocument).

(d) Subject

    Air Transport Association (ATA) of America Code 05, Periodic
Inspections.

(e) Reason

    This AD was prompted by reports of cracking found on the upper
and lower Web of the engine support beam. We are issuing this AD to
detect and correct fatigue cracking of the engine support beam,
which could result in failure of the engine support beam and affect
the structural integrity of the airplane.

(f) Compliance

    You are responsible for having the actions required by this AD
performed within the compliance times specified, unless the actions
have already been done.

(g) Time Limits/Maintenance Checks (TLMC) Manual Revision

    Within 60 days after the effective date of this AD, revise the
maintenance program to incorporate the applicable information
specified in paragraphs (g)(1) through (g)(4) of this AD.

    Note 1 to paragraph (g) of this AD: The maintenance program
revision required by paragraph (g) of this AD may be done by
inserting a copy of Bombardier Temporary Revision (TR) 5-151, TR 5-
250, TR 5-261, and TR 5-2-47 or TR 5-2-9, all dated May 31, 2011,
into the applicable TLMC manual. When the applicable TR has been
included in general revisions of the TLMC manual, the general
revisions may be inserted in the TLMC manual, provided the relevant
information in the general revision is identical to that in the
applicable TR specified in paragraphs (g)(1) through (g)(4) of this
AD.

    (1) For Model CL-600-1A11 (CL-600) airplanes: Task 53-10-00-198,
Torque Box, specified in Canadair Challenger TR 5-151, dated May 31,
2011, to the Canadair Challenger TLMC Manual, PSP 605.
    (2) For Model CL-600-2A12 (CL-601 Variant) airplanes: Task 53-
10-00-198, Engine Support Beam, specified in Canadair Challenger TR
5-250, dated May 31, 2011, to the Canadair Challenger TLMC Manual,
PSP 601-5.
    (3) For Model CL-600-2B16 (CL-601-3A and CL-601-3B Variant)
airplanes: Task 53-

10-00-198, Engine Support Beam, specified in Canadair Challenger TR
5-261, dated May 31, 2011, to the Canadair Challenger TLMC Manual,
PSP 601A-5.
    (4) For Model CL-600-2B16 (CL-604 Variant) airplanes: Task 53-
30-00-155, Detailed Inspection of the Engine Support Beam, specified
in Bombardier Challenger 604 TR 5-2-47, dated May 31, 2011, to the
Bombardier Challenger 604 TLMC Manual; or Task 53-30-00-155,
Detailed Inspection of the Engine Support Beam, specified in
Bombardier Challenger 605 TR 5-2-9, dated May 31, 2011, to the
Bombardier Challenger 605 TLMC Manual.

(h) Initial Compliance Times for Inspections

    The initial compliance time for the inspections specified in the
temporary revisions specified in paragraphs (g)(1) through (g)(4) of
this AD is before the accumulation of 7,800 total flight cycles, or
within 12 months after the effective date of this AD, whichever
occurs later.

(i) No Alternative Actions or Intervals

    After accomplishing the revision required by paragraph (g) of
this AD, no alternative actions (e.g., inspections) or intervals may
be used unless the actions or intervals are approved as an
alternative method of compliance (AMOC) in accordance with the
procedures specified in paragraph (j) of this AD.

(j) Other FAA AD Provisions

    The following provisions also apply to this AD:
    (1) Alternative Methods of Compliance (AMOCs): The Manager, New
York Aircraft Certification Office, ANE-170, FAA, has the authority
to approve AMOCs for this AD, if requested using the procedures
found in 14 CFR 39.19. In accordance with 14 CFR 39.19, send your
request to your principal inspector or local Flight Standards
District Office, as appropriate. If sending information directly to
the ACO, send it to ATTN: Program Manager, Continuing Operational
Safety, FAA, New York ACO, 1600 Stewart Avenue, Suite 410, Westbury,
New York 11590; telephone<PHONE_NUMBER>; fax<PHONE_NUMBER>. Before
using any approved AMOC, notify your appropriate principal
inspector, or lacking a principal inspector, the manager of the
local flight standards district office/certificate holding district
office. The AMOC approval letter must specifically reference this
AD.
    (2) Airworthy Product: For any requirement in this AD to obtain
corrective actions from a manufacturer or other source, use these
actions if they are FAA-approved. Corrective actions are considered
FAA-approved if they are approved by the State of Design Authority
(or their delegated agent). You are required to assure the product
is airworthy before it is returned to service.

(k) Related Information

    Refer to MCAI Canadian Airworthiness Directive CF-2011-33, dated
August 16, 2011, and the temporary revisions specified in paragraphs
(g)(1) through (g)(4) of this AD, for related information.

(l) Material Incorporated by Reference

    (1) The Director of the Federal Register approved the
incorporation by reference (IBR) of the service information listed
in this paragraph under 5 U.S.C. 552(a) and 1 CFR part 51.
    (2) You must use this service information as applicable to do
the actions required by this AD, unless the AD specifies otherwise.
    (i) Canadair Challenger Temporary Revision 5-151, dated May 31,
2011, to the Canadair Challenger Time Limits/Maintenance Checks
Manual, PSP 605.
    (ii) Canadair Challenger Temporary Revision 5-250, dated May 31,
2011, to the Canadair Challenger Time Limits/Maintenance Checks
Manual, PSP 601-5.
    (iii) Canadair Challenger Temporary Revision 5-261, dated May
31, 2011, to the Canadair Challenger Time Limits/Maintenance Checks
Manual, PSP 601A-5.
    (iv) Bombardier Challenger 604 Temporary Revision 5-2-47, dated
May 31, 2011, to the Bombardier Challenger 604 Time Limits/
Maintenance Checks Manual.
    (v) Bombardier Challenger 605 Temporary Revision 5-2-9, dated
May 31, 2011, to the Bombardier Challenger 605 Time Limits/
Maintenance Checks Manual.
    (3) For service information identified in this AD, contact
Bombardier, Inc., 400 C[ocirc]te-Vertu Road West, Dorval,
Qu[eacute]bec H4S 1Y9, Canada; telephone<PHONE_NUMBER>; fax 514-855-
7401; email<EMAIL_ADDRESS>Internet http://www.bombardier.com.
    (4) You may review copies of the service information at the FAA,
Transport Airplane Directorate, 1601 Lind Avenue SW., Renton, WA.
For information on the availability of this material at the FAA,
call<PHONE_NUMBER>.
    (5) You may view this service information that is incorporated
by reference at the National Archives and Records Administration
(NARA). For information on the availability of this material at
NARA, call<PHONE_NUMBER>, or go to: http://www.archives.gov/federal-register/cfr/ibr-locations.html.

    Issued in Renton, Washington, on January 30, 2013.
Ali Bahrami,
Manager, Transport Airplane Directorate, Aircraft Certification
Service.
[FR Doc. 2013-02724 Filed 2-11-13; 8:45 am]
BILLING CODE 4910-13-P


currently conducts, but will be able to do so in a more efficient
manner to the benefit of its members. These efficiencies will pass
through to the benefit of investors and issuers, promoting further
efficiencies, competition and capital formation, placing no burden on
competition not necessary or appropriate in furtherance of the Exchange
Act.
    Furthermore, the Exchange notes that the proposed rule change
presents no novel issues, as all of the proposed rule text is derived
from existing rules of the NYSE Exchanges or, in the case of the Bylaw
Waiver Amendment, the Exchange. The Exchange's conclusion that the
proposed rule change would not result in any burden on competition that
is not necessary or appropriate in furtherance of the purposes of the
Exchange Act is consistent with the Commission's prior conclusions
about similar combinations involving multiple exchanges in a single
corporate family.\98\
---------------------------------------------------------------------------

    \98\ See, e.g., NYSE National Approval, supra note 24;
Securities Exchange Act Release Nos. 79585 (December 16, 2016), 81
FR 93988 (December 22, 2016 (SR-BatsBZX-2016-68; SR-BatsBYX-2016-29;
SR-BatsEDGA-2016-24; SR-BatsEDGX- 2016-60) (order granting approval
of proposed rule change in connection with the proposed corporate
transaction involving Bats Global Markets, Inc. and CBOE Holdings,
Inc.); 71375 (January 23, 2014), 79 FR 4771 (January 29, 2014) (SR-
BATS-2013-059; SR-BYX-2013-039) (order granting approval of proposed
rule change in connection with the proposed business combination
involving BATS Global Markets, Inc. and Direct Edge Holdings LLC);
58324 (August 7, 2008), 73 FR 46936 (August 12, 2008) (SR-BSE-2008-
02; SR-BSE-2008-23; SR-BSE-2008-25; SR-BSECC-2008-01) (order
granting approval of proposed rule change in connection with the
proposed acquisition of Boston Stock Exchange, Incorporated by the
NASDAQ OMX Group, Inc.); and 53382 (February 27, 2006), 71 FR 11251
(March 6, 2006) (SR-NYSE-2005-77) (order granting approval of
proposed rule change relating to the NYSE's business combination
with Archipelago Holdings, Inc.).
---------------------------------------------------------------------------

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

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

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

    Within 45 days of the date of publication of this notice in the
Federal Register or within such longer period up to 90 days (i) as the
Commission may designate 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 or disapprove 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, as modified by Amendment No. 1, is consistent with the Act.
Comments may be submitted by any of the following methods:

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include
File Number SR-CHX-2018-004 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-CHX-2018-004. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549, on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of the filing also will be available for inspection
and copying at the principal office of the Exchange. All comments
received will be posted without change. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-CHX-2018-004, and should be submitted on
or before June 19, 2018.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\99\
---------------------------------------------------------------------------

    \99\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-11395 Filed 5-25-18; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 80, Number 175 (Thursday, September 10, 2015)]
[Notices]
[Pages 54566-54567]
[FR Doc No: 2015-22835]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2013-D-1156]

International Conference on Harmonisation; Guidance on Q3D
Elemental Impurities; Availability

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice.

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

SUMMARY: The Food and Drug Administration (FDA) is announcing the
availability of a guidance entitled ``Q3D Elemental Impurities.'' The
guidance was prepared under the auspices of the International
Conference on Harmonisation of Technical Requirements for Registration
of Pharmaceuticals for Human Use (ICH). The guidance establishes
permitted daily exposures for 24 elements in drug products based on
evaluation of toxicity data. Permitted daily exposures are provided for
each element by three routes of administration--oral, parenteral and
inhalation. The guidance also provides for a risk-based approach to
assessing the likelihood that elemental impurities with established
permitted daily exposures will be present in a pharmaceutical product.
The guidance is intended to provide a harmonized approach to control of
elemental impurities in pharmaceutical products in order to avoid the
uncertainty and duplication of work that results from different
requirements in different ICH regions.

DATES: Submit either electronic or written comments on Agency guidances
at any time.

ADDRESSES: Submit written requests for single copies of the guidance to
the Division of Drug Information (HFD-240), Center for Drug Evaluation
and Research, Food and Drug Administration, 10001 New Hampshire Ave.,
Hillandale Building, 4th Floor, Silver Spring, MD 20993, or the Office
of Communication, Outreach and Development, Center for Biologics
Evaluation and Research (CBER), Food and Drug Administration, 10903 New
Hampshire Ave., Bldg. 71, Rm. 3128, Silver Spring, MD 20993-0002. Send
one self-addressed adhesive label to assist the office in processing
your requests. The guidance may also be obtained by mail by calling
CBER at 1-800-835-4709 or<PHONE_NUMBER>. See the SUPPLEMENTARY
INFORMATION section for electronic access to the guidance document.
    Submit electronic comments on the guidance to http://www.regulations.gov. Submit written comments to the Division of Dockets
Management (HFA-305), Food and Drug Administration, 5630 Fishers Lane,
Rm. 1061, Rockville, MD 20852.

FOR FURTHER INFORMATION CONTACT: Regarding the guidance: John Kauffman,
Center for Drug Evaluation and Research, Food and Drug Administration,
645 S. Newstead Ave., St. Louis, MO 63110,<PHONE_NUMBER>;
    Regarding the ICH: Michelle Limoli, CBER International Programs,
Food and Drug Administration, 10903 New Hampshire Ave., Bldg. 71, Rm.
7212, Silver Spring, MD 20993-0002,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

I. Background

    In recent years, many important initiatives have been undertaken by
regulatory authorities and industry associations to promote
international harmonization of regulatory requirements. FDA has
participated in many meetings designed to enhance harmonization and is
committed to seeking scientifically based harmonized technical
procedures for pharmaceutical development. One of the goals of
harmonization is to identify and then reduce differences in technical
requirements for drug development among regulatory agencies.
    ICH was organized to provide an opportunity for tripartite
harmonization initiatives to be developed with input from both
regulatory and industry representatives. FDA also seeks input from
consumer representatives and others. ICH is concerned with
harmonization of technical requirements for the registration of
pharmaceutical products among three regions: The European Union, Japan,
and the United States. The six ICH sponsors are the European
Commission; the European Federation of Pharmaceutical Industries
Associations; the Japanese Ministry of Health, Labour, and Welfare; the
Japanese Pharmaceutical Manufacturers Association; the Centers for Drug
Evaluation and Research and Biologics Evaluation and Research, FDA; and
the Pharmaceutical Research and Manufacturers of America. The ICH
Secretariat, which coordinates the preparation of documentation, is
provided by the International Federation of Pharmaceutical
Manufacturers Associations (IFPMA).
    The ICH Steering Committee includes representatives from each of
the ICH sponsors and the IFPMA, as well as observers from the World
Health Organization, Health Canada, and the European Free Trade Area.

    In the Federal Register of October 23, 2013 (78 FR 63219), FDA
published a notice announcing the availability of a draft guidance
entitled ``Q3D Elemental Impurities.'' The notice gave interested
persons an opportunity to submit comments by December 23, 2013.
    After consideration of the comments received and revisions to the
guidance, a final draft of the guidance was submitted to the ICH
Steering Committee and endorsed by the three participating regulatory
agencies on December 16, 2014.
    The guidance establishes permitted daily exposures for 24 elements
in drug products and provides for a risk-based approach to assessing
the likelihood that elemental impurities with established permitted
daily exposures will be present in a pharmaceutical product. In
response to comments on the draft guidance, several changes were made
to the final guidance including clarifying the scope, reevaluation of
some permitted daily exposures based on new toxicology data,
simplification of the classification scheme for elemental impurities,
and clarifying the examples to illustrate certain concepts within the
guidance.
    This guidance is being issued consistent with FDA's good guidance
practices regulation (21 CFR 10.115). The guidance represents the
current thinking of FDA on Q3D elemental impurities. It does establish
any rights for any person and is not binding on FDA or the public. You
can use an alternative approach if it satisfies the requirements of the
applicable statutes and regulations.

II. Comments

    Interested persons may submit either electronic comments regarding
this document to http://www.regulations.gov or written comments to the
Division of Dockets Management (see ADDRESSES). It is only necessary to
send one set of comments. Identify comments with the docket number
found in brackets in the heading of this document. Received comments
may be seen in the Division of Dockets Management between 9 a.m. and 4
p.m., Monday through Friday, and will be posted to the docket at http://www.regulations.gov.

III. Electronic Access

    Persons with access to the Internet may obtain the document at
http://www.regulations.gov, http://www.fda.gov/Drugs/GuidanceComplianceRegulatoryInformation/Guidances/default.htm, or
http://www.fda.gov/BiologicsBloodVaccines/GuidanceComplianceRegulatoryInformation/Guidances/default.htm.

    Dated: September 4, 2015.
Leslie Kux,
Associate Commissioner for Policy.
[FR Doc. 2015-22835 Filed 9-9-15; 8:45 am]
BILLING CODE 4164-01-P


[Federal Register Volume 83, Number 81 (Thursday, April 26, 2018)]
[Notices]
[Page 18386]
[FR Doc No: 2018-08819]

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SECURITIES AND EXCHANGE COMMISSION

Proposed Collection; Comment Request

Upon Written Request Copies Available From: Securities and Exchange
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC
20549-2736.

Extension:
    Form 1-U, SEC File No. 270-660, OMB Control No. 3235-0722.

    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.
    Form 1-U (17 CFR 239.93) is used to file current event reports by
Tier 2 issuers under Regulation A, an exemption from registration under
the Securities Act of 1933 (15 U.S.C 77a et seq.). Form 1-U provides
information to the public within four business days of fundamental
changes in the nature of the issuer's business and other significant
events. We estimate that approximately 97 issuers file Form 1-U
annually. We estimate that Form 1-U takes approximately 5.66 hours to
prepare. We estimate that 75% of the 5.66 hours per response is
prepared by the company for a total annual burden of 412 hours (4.25
hours per response x 97 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 Pamela Dyson, Director/Chief
Information Officer, Securities and Exchange Commission, c/o Remi
Pavlik-Simon, 100 F Street NE, Washington, DC 20549; or send an email
to: [email protected].

    Dated: April 23, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-08819 Filed 4-25-18; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 74, Number 133 (Tuesday, July 14, 2009)]
[Notices]
[Pages 34004-34005]
[FR Doc No: E9-16556]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. ER09-1339-000]

Grand Ridge Energy II LLC; Supplemental Notice That Initial
Market-Based Rate Filing Includes Request for Blanket Section 204
Authorization

July 7, 2009.
    This is a supplemental notice in the above-referenced proceeding of
Grand Ridge Energy II LLC's application for market-based rate
authority, with an accompanying rate tariff, noting that such
application includes a request for blanket authorization, under 18 CFR
part 34, of future issuances of securities and assumptions of
liability.
    Any person desiring to intervene or to protest should file with the
Federal Energy Regulatory Commission, 888 First Street, NE.,
Washington, DC 20426, in accordance with Rules 211 and 214 of the
Commission's Rules of Practice and Procedure (18 CFR 385.211 and
385.214). Anyone filing a motion to intervene or protest must serve a
copy of that document on the Applicant.
    Notice is hereby given that the deadline for filing protests with
regard to the applicant's request for blanket authorization, under 18
CFR part 34, of future issuances of securities and assumptions of
liability, is July 27, 2009.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper, using the FERC Online links at http://www.ferc.gov. To facilitate electronic service, persons with Internet
access who will eFile a document and/or be listed as a contact for an
intervenor must create and validate an eRegistration account using the
eRegistration link. Select the eFiling link to log on and submit the
intervention or protests.
    Persons unable to file electronically should submit an original and
14 copies of the intervention or protest to the Federal Energy
Regulatory Commission, 888 First St., NE., Washington, DC 20426.
    The filings in the above-referenced proceeding are accessible in
the Commission's eLibrary system by clicking on the appropriate link in
the above list. They are also available for review in the Commission's
Public Reference Room in Washington, DC. There is an eSubscription link
on the Web site that enables subscribers to receive e-mail notification
when a document is added to a subscribed

docket(s). For assistance with any FERC Online service, please e-mail
<EMAIL_ADDRESS>or call<PHONE_NUMBER> (toll free). For TTY,
call<PHONE_NUMBER>.

Kimberly D. Bose,
Secretary.
 [FR Doc. E9-16556 Filed 7-13-09; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 78, Number 60 (Thursday, March 28, 2013)]
[Notices]
[Pages 19050-19051]
[FR Doc No: 2013-07185]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-69221; File No. SR-NSCC-2013-01]

Self-Regulatory Organizations; National Securities Clearing
Corporation; Notice of Filing and Immediate Effectiveness of Proposed
Rule Change To Net and Bilaterally Offset Aggregated Receive and
Deliver Settlement Obligations for Special Trades, and To Use Current
Market Price as the Uniform Settlement Price for Net Balance Orders

March 22, 2013.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on March 11, 2013, National Securities Clearing Corporation (``NSCC'')
filed with the Securities and Exchange Commission (``Commission'') the
proposed rule change as described in Items I, II and III below, which
Items have been prepared primarily by NSCC. NSCC filed the proposed
rule change pursuant to Section 19(b)(3)(A)(iii) \3\ of the Act and
Rule 19b-4(f)(4) \4\ thereunder, so that the proposed rule change was
effective upon filing with the Commission. The Commission is publishing
this notice to solicit comments on the proposed rule change from
interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \4\ 17 CFR 240.19b-4(f)(4).
---------------------------------------------------------------------------

I. Clearing Agency's Statement of the Terms of Substance of the
Proposed Rule Change

    The proposed rule change is to modify NSCC's Rules and Procedures
(``Rules''), as described below.

II. Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change

    In its filing with the Commission, NSCC 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. NSCC has prepared summaries, set forth in sections (A),
(B), and (C) below, of the most significant aspects of such
statements.\5\
---------------------------------------------------------------------------

    \5\ The Commission has modified the text of the summaries
prepared by NSCC.
---------------------------------------------------------------------------

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

Bilateral Offset and Net of Special Trades
    Pursuant to its Rules, NSCC may determine that some or all
transactions in a particular security settle on a trade-for-trade basis
between counterparties (``Special Trades'').\6\ NSCC will issue receive
and deliver instructions for Special Trades to the transacting NSCC
members (``Members'') to settle the transactions directly between
themselves. In addition, in accordance with the Rules, Members may
designate transactions as Special Trades, and agree to settle the
transactions on a trade-for-trade basis.\7\ NSCC does not guaranty
settlement of Special Trades.
---------------------------------------------------------------------------

    \6\ See Rules, Procedure II, Section F (http://dtcc.com/legal/rules_proc/nscc_rules.pdf).
    \7\ Id.
---------------------------------------------------------------------------

    Historically, Members were required to settle each Special Trade
individually (i.e., trade-for-trade). In order to simplify this process
and mitigate the processing burden on Members, NSCC amended its Rules
in 2010 \8\ in order that it may, at its discretion, aggregate bi-
laterally between counterparties the Special Trades that NSCC
designates as such, so just one receive order and one deliver order in
a given security would need to settle for each party, rather than
settling potentially many individual transactions.\9\ However, a
Special Trade's aggregated buy and sell obligations are not currently
netted and offset between the counterparties. For example, if Broker A
had 15 buys against Broker B in Security X, these items would be
aggregated into one receive obligation for A and one deliver obligation
for B for the total amount of shares for the 15 transactions in
Security X. Likewise, if Broker A had 20 sells with Broker B on that
same day for the same security, those items would also be aggregated
into one deliver obligation for A and one receive obligation for B. In
this example, A and B would each have two settlement obligations with
the other for Security X, rather than the 35 obligations they would
each have without aggregation.
---------------------------------------------------------------------------

    \8\ See Release No. 34-61762 (Mar. 23, 2010); 75 FR 15479 (Mar.
29, 2010).
    \9\ Special Trades designated as such by the transacting
Members, not NSCC, are not aggregated and continue to settle on a
trade-for-trade basis.
---------------------------------------------------------------------------

    In order to further simplify the process described above, NSCC
proposes that it may net aggregated positions in transactions
designated by it as Special Trades so that any positions (i.e., both
receive and deliver obligations) between the transacting Members can be
offset against each other, resulting in one bilateral receive
obligation or deliver obligation from one party to the other for the
given security.\10\ In the example above, this would result in each
party having one settlement obligation associated with Security X as
opposed to two, and realizing a reduced obligation in terms of any
associated movement of securities and money settlement.
---------------------------------------------------------------------------

    \10\ When Members have an equal number of shares bought and sold
between them, NSCC will not issue a receive or deliver obligation,
but will record any cash difference in the NSCC money settlement
system.
---------------------------------------------------------------------------

    Under such circumstances, if (1) issuing of a net buy or sell
instruction would result in a money settlement that would be
directionally opposite to a typical money settlement in relation to its
corresponding securities movement (i.e., a Member receives an
instruction to receive securities with a corresponding receipt of money
settlement payment, or deliver securities with a corresponding delivery
of a money payment), or (2) the associated money settlement is flat in
relation to the securities movement (i.e., a Member receives an
instruction to receive or deliver securities without a corresponding
money settlement amount), then NSCC may, in lieu of netting and
offsetting, separately aggregate the receive and deliver instructions
(as it does currently), so that the transacting Members would each have
one aggregate buy obligation and one aggregate sell obligation in the
given security.
Net Balance Order Pricing
    The uniform settlement price for net Balance Orders is currently
established using a rounding methodology.\11\ If the current per share
price of the Balance Order Security is under $2.00, the Settlement
Price will be established to the nearest cent. If the current per share
price of the Balance Order Security is between $2.00 and $10.00, the
Settlement Price will be rounded to the nearest quarter dollar. If the
current per share price of the Balance Order Security is over $10.00,
the Settlement Price will be rounded to the nearest whole dollar. To
promote the prompt and accurate settlement of Net Balance Orders, NSCC
proposes to eliminate the rounding methodology and, instead, apply the
current market price for the Balance Order Security as the uniform
settlement price for Net Balance Orders.
---------------------------------------------------------------------------

    \11\ See Rules, Procedure V, Section C (http://dtcc.com/legal/rules_proc/nscc_rules.pdf).

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

Proposed Changes to Rule Text
    NSCC proposes to amend Procedure II of its Rules to provide for the
creation of receive and deliver instructions that reflect the net
offset of aggregated Special Trade positions, as described above.\12\
In addition, regarding Net Balance Orders, NSCC proposes to revise
Procedure V of its Rules to delete the rounding methodology and add the
current market price methodology, as described above.
---------------------------------------------------------------------------

    \12\ As with any Special Trade, NSCC will not guaranty
settlement of receive and deliver orders of transactions aggregated
and/or net pursuant to the proposed Rule change.
---------------------------------------------------------------------------

Statutory Basis
    NSCC believes the proposed rule change, as described above, is
consistent with the requirements of the Act, specifically Section
17A(b)(3)(F),\13\ and the rules and regulations thereunder applicable
to NSCC, because the change provides for operational efficiencies for
Members in the settlement of transactions by reducing the number of
obligations requiring settlement for Special Trades, and promoting
accuracy with respect to the pricing of Net Balance Orders; therefore,
facilitating the prompt and accurate clearance and settlement of
securities transactions.
---------------------------------------------------------------------------

    \13\ 15 U.S.C. 78q-1(b)(3)(F).
---------------------------------------------------------------------------

(B) Self-Regulatory Organization's Statement on Burden on Competition

    NSCC does not believe that the proposed rule change will have any
impact, or impose any burden, on competition.

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

    Written comments relating to the proposed rule change have not yet
been solicited or received. NSCC will notify the Commission of any
written comments received by NSCC.

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

    The forgoing rule change has become effective pursuant to Section
19(b)(3)(A)(iii) of the Act \14\ and Rule 19b-4(f)(4) \15\ thereunder.
At any time within 60 days of the filing of the proposed rule change,
the Commission summarily may temporarily suspend such rule change if it
appears to the Commission that such action is necessary or appropriate
in the public interest, for the protection of investors, or otherwise
in furtherance of the purposes of the Act.
---------------------------------------------------------------------------

    \14\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \15\ 17 CFR 240.19b-4(f)(4).
---------------------------------------------------------------------------

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File No. SR-NSCC-2013-01 on the subject line.

Paper Comments

     Send 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-NSCC-2013-01. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549 on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of such filings will also be available
for inspection and copying at the principal office of NSCC and on
NSCC's Web site at http://dtcc.com/downloads/legal/rule_filings/2013/nscc/SR-NSCC-2013-01.pdf.
    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-NSCC-2013-01
and should be submitted on or before April 18, 2013.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\16\
---------------------------------------------------------------------------

    \16\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-07185 Filed 3-27-13; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 85, Number 206 (Friday, October 23, 2020)]
[Notices]
[Pages 67553-67554]
[FR Doc No: 2020-23501]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2020-N-0861]

Phillip R. Carawan: Final Debarment Order

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice.

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

SUMMARY: The Food and Drug Administration (FDA) is issuing an order
under the Federal Food, Drug, and Cosmetic Act (FD&C Act) debarring
Phillip R. Carawan for a period of 5 years from importing articles of
food or offering such articles for importation into the United States.
FDA bases this order on a finding that Mr. Carawan was convicted, as
defined in the FD&C Act, of a felony count under Federal law for
conduct relating to the importation into the United States of an
article of food. Mr. Carawan was given notice of the proposed permanent
debarment and an opportunity to request a hearing within the timeframe
prescribed by regulation. As of June 13, 2020 (30 days after receipt of
the notice), Mr. Carawan has not responded. Mr. Carawan's failure to
respond and request a hearing constitutes a waiver of Mr. Carawan's
right to a hearing concerning this matter.

DATES: This order is applicable October 23, 2020.

ADDRESSES: Submit applications for termination of debarment to the
Dockets Management Staff, Food and Drug Administration, 5630 Fishers
Lane, Room 1061, Rockville, MD 20852,<PHONE_NUMBER>.

FOR FURTHER INFORMATION CONTACT: Jaime Espinosa (ELEM-4029) Division of
Enforcement, Office of Strategic Planning and Operational Policy,
Office of Regulatory Affairs, Food and Drug Administration, 12420
Parklawn Dr., Rockville, MD 20857,<PHONE_NUMBER> or at
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. Background

    Section 306(b)(1)(C) of the FD&C Act (21 U.S.C. 335a(b)(1)(C))
permits FDA to debar an individual from importing an article of food or
offering such an article for import into the United States if FDA
finds, as required by section 306(b)(3)(A) of the FD&C Act, that the
individual has been convicted of a felony for conduct relating to the
importation into the United States of any food.

    On January 9, 2020, Mr. Carawan was convicted as defined in section
306(l)(1)(B) of the FD&C Act, in the U.S. District Court for the
Eastern District of North Carolina, when the court accepted Mr.
Carawan's plea of guilty and entered judgment against him for the
offense of violating the Lacey Act and Aiding and Abetting. This
offense was in violation of 16 U.S.C. 3372(d)(1) and 3373(d)(3)(A)(j)
and 18 U.S.C. 2.
    FDA's finding that the debarment is appropriate is based on the
felony conviction referenced herein. The factual basis for this
conviction is as follows: As contained in the Indictment, filed on June
26, 2019, Mr. Carawan served as the owner and operator, and acted as
the President and Chief Executive Officer, of Capt. Neill's Seafood,
Inc. (Capt. Neill's). Capt. Neill's is a North Carolina corporation in
the business of purchasing, processing, packaging, transporting, and
selling seafood and seafood products, including crab meat from
domestically harvested Atlantic blue crab, and products made from
Atlantic blue crab. From as early as January 1, 2012 and continuing
through December 31, 2015, Mr. Carawan caused Capt. Neill's to purchase
foreign crab meat from South American and Asia. Mr. Carawan directed
Capt. Neill's employees to repackage the foreign crab meat into
containers labeled ``Product of USA.'' Mr. Carawan then knowingly
caused those containers of foreign crab meat to be sold as jumbo
domestically harvested blue crab to customers. During the relevant time
frame, Mr. Carawan caused the sale of approximately 200,536 pounds of
crab meat falsely labeled ``Product of USA'' with a total retail market
value of $4,082,841.
    As a result of this conviction FDA sent Mr. Carawan, by certified
mail on May 6, 2020, a notice proposing to debar him for a period of 5
years from importing articles of food or offering such articles for
import into the United States. The proposal was based on a finding
under section 306(b)(1)(C) of the FD&C Act that Mr. Carawan's felony
conviction of violating the Lacey Act and Aiding and Abetting in
violation of 16 U.S.C. 3372(d)(1) and 3373(d)(3)(A)(j) and 18 U.S.C 2,
constitutes conduct relating to the importation into the United States
of an article of food because the offense involved Mr. Carawan aiding
and abetting the importation of foreign crab meat to be falsely labeled
as ``Product of USA.''
    The proposal was also based on a determination, after consideration
of the relevant factors set forth in section 306(c)(3) of the FD&C Act,
that Mr. Carawan should be subject to a 5-year period of debarment. The
proposal also offered Mr. Carawan an opportunity to request a hearing,
providing Mr. Carawan 30 days from the date of receipt of the letter in
which to file the request, and advised Mr. Carawan that failure to
request a hearing constituted a waiver of the opportunity for a hearing
and of any contentions concerning this action. Mr. Carawan failed to
respond within the timeframe prescribed by regulation and has,
therefore, waived his opportunity for a hearing and waived any
contentions concerning his debarment (21 CFR part 12).

II. Findings and Order

    Therefore, the Assistant Commissioner, Office of Human and Animal
Food Operations, under section 306(b)(1)(C) of the FD&C Act, under
authority delegated to the Assistant Commissioner, finds that Mr.
Carawan has been convicted of a felony count under Federal law for
conduct relating to the importation into the United States of an
article of food and that he is subject to a 5-year period of debarment.
    As a result of the foregoing finding, Mr. Carawan is debarred for a
period of 5 years from importing articles of food or offering such
articles for import into the United States, effective (see DATES).
Pursuant to section 301(cc) of the FD&C Act (21 U.S.C. 331(cc)), the
importing or offering for import into the United States of an article
of food by, with the assistance of, or at the direction of Phillip R.
Carawan is a prohibited act.
    Any application by Mr. Carawan for termination of debarment under
section 306(d)(1) of the FD&C Act should be identified with Docket No.
FDA-2020-N-0861 and sent to the Dockets Management Staff (see
ADDRESSSES). All such submissions are to be filed in four copies. The
public availability of information in these submissions is governed by
21 CFR 10.20.
    Publicly available submissions will be placed in the docket, and
will be viewable at https://www.regulations.gov or at the Dockets
Management Staff (see ADDRESSES) between 9 a.m. and 4 p.m. Eastern
time, Monday through Friday.

    Dated: October 19, 2020.
Lauren K. Roth,
Acting Principal Associate Commissioner for Policy.
[FR Doc. 2020-23501 Filed 10-22-20; 8:45 am]
BILLING CODE 4164-01-P


[Federal Register: September 11, 2007 (Volume 72, Number 175)]
[Notices]
[Page 51875-51878]
[DOCID:fr11se07-111]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-56351; File No. SR-Amex-2007-81]

Self-Regulatory Organizations; American Stock Exchange, LLC;
Notice of Filing and Order Granting Accelerated Approval of Proposed
Rule Change as Modified by Amendment No. 1 Thereto To Eliminate
Position and Exercise Limits for Options on the Russell 2000 Index, and
To Specify That Certain Reduced-Value Options on Broad-Based Security
Indexes Have No Position and Exercise Limits Pursuant to Section

September 4, 2007.
    19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \1\ and
Rule 19b-4 thereunder,\2\ notice is hereby given that on August 2,
2007, the American Stock Exchange LLC (``Amex'' or ``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. On August 21, 2007,
the Exchange filed Amendment No. 1 to the proposed rule change. This
order provides notice of the proposed rule change, as modified by
Amendment No. 1, and approves the proposal on an accelerated basis.
---------------------------------------------------------------------------

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

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

    The Exchange proposes to eliminate position and exercise limits for
options on the Russell 2000 Index (``RUT''), and to specify that
reduced-value options on broad-based security indexes for which full-
value options have no position and exercise limits will similarly have
no position and exercise limits. The text of the proposed rule change
is available at Amex, the Commission's Public Reference Room, and
http://www.amex.com.

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 III below. The Exchange has prepared summaries, set forth in
Sections A, B, and C below, of the most significant aspects of such
statements.

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

1. Purpose
    The Exchange proposes to amend Amex Rule 904C to eliminate position
and exercise limits for options on RUT, a broad-based securities index
that is multiply-listed and heavily traded.\3\ The Exchange further
proposes to amend Rule 904C to specify that reduced-value options on
broad-based security indexes for which full-value options have no
position and exercise limits will similarly have no position and
exercise limits. Currently, options on the Full Size Nasdaq-100 Index
(``NDX'') have no position and exercise limits. In this regard, the
Exchange also proposes to eliminate position and exercise limits for
options on the Mini Nasdaq-100 Index (``MNX'').
---------------------------------------------------------------------------

    \3\ The current position and exercise limits for RUT options are
50,000 contracts, with no more than 30,000 of such contracts in a
series in the nearest expiration month. See Securities Exchange Act
Release No. 53191 (January 30, 2006), 71 FR 6111 (February 6, 2006)
(SR-Amex-2005-061).
---------------------------------------------------------------------------

Eliminate Position and Exercise Limits for RUT Options
    The Exchange believes that the circumstances and considerations
relied upon in approving the elimination of position and exercise
limits for other heavily traded broad-based index options (e.g.,
options on NDX, the Major Market Index (``XMI''), and the Institutional
Index (``XII'')) equally apply to the current proposal relating to
position and exercise limits for RUT options.\4\
---------------------------------------------------------------------------

    \4\ See Securities Exchange Act Release No. 52649 (October 21,
2005), 70 FR 62146 (October 28, 2005) (SR-Amex-2005-063) (``NDX
Approval Order''); see also Securities Exchange Act Release No.
46393 (August 21, 2002), 67 FR 55289 (August 28, 2002) (SR-Amex-
2002-31) (``XMI/XII Permanent Approval Order'').
---------------------------------------------------------------------------

    In approving the elimination of position and exercise limits for
NDX, XMI, and XII options, the Commission considered the capitalization
of the each of these indexes and the deep and liquid markets for the
securities underlying each index significantly reduced concerns of
market manipulation or disruption in the underlying markets. The
Commission also noted the active trading volume for options on those
indexes. Amex believes that RUT shares these factors in common with the
NDX and XMI. As of July 31, 2007, the approximate market capitalization
of the NDX and XMI \5\ were $2.28 and $2.82 trillion, respectively, the
average daily trading volume (``ADTV'') for the components of the
indexes were 572 million and 171 million shares, respectively, and the
ADTV for options on the indexes were 64,003 contracts per day, and
1,338 contracts per day, respectively. Amex believes that RUT has very
comparable characteristics. The market capitalization for RUT is $1.73
trillion dollars, the ADTV for the underlying securities is 535 million
shares, and the ADTV for RUT options is 79,000 contracts.
---------------------------------------------------------------------------

    \5\ Options on XII are no longer listed and traded on the
Exchange.
---------------------------------------------------------------------------

    In approving the elimination of position and exercise limits for
NDX, XMI, and XII, the Commission also noted the financial requirements
imposed by both the Exchange and the Commission serve to address any
concerns that an Exchange member or its customer(s) may try to maintain
an inordinately large unhedged position in options on the indexes.
These financial requirements also apply to RUT options. Under Amex
rules, the Exchange also has the authority to impose additional margin
upon accounts maintaining underhedged positions, and is further able to
monitor accounts to determine when such action is warranted. As noted
in the Exchange's rules, the clearing firm carrying such an account
would be subject to capital charges under Rule 15c3-1 under the Act \6\
to the extent of any resulting margin deficiency.\7\
---------------------------------------------------------------------------

    \6\ 17 CFR 240.15c3-1.
    \7\ See Commentary .03 to Amex Rule 904C.
---------------------------------------------------------------------------

    In approving the elimination of position and exercise limits for
NDX, XMI, and XII the Commission relied heavily on the Exchange's
ability to provide surveillance and reporting safeguards to detect and
deter trading abuses arising from the elimination of position and
exercise limits in options on those indexes. The Exchange represents
that it monitors the trading in RUT options in the same manner as
trading in NDX and XMI options and that the current Amex surveillance
procedures are adequate to continue monitoring RUT options. In
addition, the Exchange intends to impose a reporting requirement on
Amex members or member organizations (other than Amex specialists and
registered options traders) who trade RUT options. This reporting
requirement, which is currently imposed on members who trade NDX and
XMI options, will require members or member organizations who maintain
in excess of 100,000 RUT option

contracts on the same side of the market, for their own accounts or for
the account of customers, to report information as to whether the
positions are hedged and provide documentation as to how such contracts
are hedged, in a manner and form required by the Exchange's Regulation
Department. The Exchange may also specify other reporting requirements,
as well as the limit at which the reporting requirement may be
triggered.
    The Exchange proposes to delete the reference to XII options in
Rule 904C(b), Commentary .03 to Rule 904C, Rule 906C(b), and Rule 906G,
as XII options are no longer listed and traded on the Exchange.
    For consistency, the Exchange also proposes to amend Rule
906G(a)(i), (iv), and (v) relating to the trading of FLEX broad-based
index options to reflect that there shall be no position or exercise
limits on RUT options and to adopt the 100,000 contract reporting
requirement for FLEX RUT options. All other FLEX rules applicable to
NDX and XMI options shall also apply, where applicable, to RUT options.
    The Exchange believes that eliminating position and exercise limits
for RUT options and FLEX RUT options is consistent with Amex rules
relating to similar broad-based indexes and also allows Amex members
and their customers greater hedging and investment opportunities.
Elimination of Position Limits for Reduced-Value Options on Broad-
Based-Indexes for Which There Are Not Position and Exercise Limits for
Full-Value Options
    The Exchange lists and trades reduced-value options on broad-based
indexes for which the Exchange also lists and trades full-value options
(e.g., MNX options). When the exchange received approval to list and
trade MNX options, the proscribed position and exercise limits were
equivalent to the reduced-value contract factor (e.g., 10) multiplied
by the applicable position and exercise limits for the full-value
options on the same broad-based index.\8\ For example, when the
Exchange received approval to list and trade NDX and MNX options,\9\
the position and exercise limits for MNX (\1/10th\ NDX value) options
were 750,000 contracts, which was equal to the applicable factor (10)
multiplied by the position limit for NDX options (75,000 contracts). In
the NDX Approval Order, the Exchange noted that NDX contracts would be
aggregated with MNX contracts to determine compliance with applicable
position and exercise limits. Since position and exercise limits were
eliminated for NDX options,\10\ the Exchange now proposes to eliminate
position and exercise limits for MNX options. The Exchange further
proposes to amend Rule 904C(b) to state that reduced-value options on
broad-based security indexes for which full-value options have no
position and exercise limits, would similarly have no position and
exercise limits.
---------------------------------------------------------------------------

    \8\ See Securities Exchange Act Release No. 51884 (June 20,
2005), 70 FR 36973 (June 27, 2005) (SR-Amex-2005-038).
    \9\ See NDX Approval Order, supra note 4.
    \10\ Id.
---------------------------------------------------------------------------

    In addition, because position and exercise limits for reduced-value
options are aggregated with full-value options for purposes of
determining compliance with position and exercise limits, the Exchange
proposes to amend Rule 906C to reflect that such aggregation would
apply when calculating reporting requirements (e.g., 10 MNX options
equal 1 NDX full-value contract).
2. Statutory Basis
    The Exchange believes that the proposal is consistent with Section
6(b) of the Act,\11\ in general, and Section 6(b)(5) of the Act,\12\ 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 mechanism of a free and open
market and a national market system.
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78f(b).
    \12\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

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 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

    No written comments were solicited or received with respect to the
proposed rule change.

III. 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-Amex-2007-81 on the subject line.

Paper Comments

     Send paper comments in triplicate to Nancy M. Morris,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-1090.

All submissions should refer to File Number SR-Amex-2007-81. 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, 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-
Amex-2007-81 and should be submitted on or before October 2, 2007.

IV. Commission's Findings and Order Granting Accelerated Approval of
the Proposed Rule Change

    After careful review, the Commission finds that the proposed rule
change is consistent with the requirements of the Act and the rules and
regulations thereunder that are applicable to a national securities
exchange.\13\ In

particular, the Commission believes the proposed rule change is
consistent with the requirements of Section 6(b)(5) of the Act, which
requires that the rules of a national securities exchange be designed
to prevent fraudulent and manipulative acts and practices, to promote
just and equitable principles of trade, to foster cooperation and
coordination with persons engaged in facilitating transactions in
securities, to remove impediments to and perfect the mechanism of a
free and open market and a national market system, and in general to
protect investors and the public interest.\14\
---------------------------------------------------------------------------

    \13\ In approving this proposed rule change, the Commission
notes that it has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
    \14\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    Since the inception of standardized options trading, the options
exchanges have had rules imposing limits on the aggregate number of
options contracts that a member or customer could hold or exercise.
These rules are intended to prevent the establishment of options
positions that can be used or might create incentives to manipulate or
disrupt the underlying market so as to benefit the options position.
    The Commission notes that it continues to believe that the
fundamental purposes of position and exercise limits remain valid.
Nevertheless, the Commission believes that experience with the trading
of index options as well as enhanced reporting requirements and the
Exchange's surveillance capabilities have made it possible to approve
the elimination of position and exercise limits on certain broad-based
index options. Thus, in 2002, the Commission approved an Amex proposal
to eliminate permanently position and exercise limits for options on
XMI and XII,\15\ and, in 2005, the Commission approved an Amex proposal
to eliminate permanently the position and exercise limits for options
on NDX.\16\ The Commission believes that the considerations upon which
it relied in approving the elimination of position and exercise limits
for XMI, XII, and NDX options equally apply with respect to options on
RUT.
---------------------------------------------------------------------------

    \15\ See XMI/XII Permanent Approval Order, supra note 4.
    \16\ See NDX Approval Order, supra note 4.
---------------------------------------------------------------------------

    As noted by Amex, the market capitalization of the RUT as of July
31, 2007, was $1.73 trillion. The ADTV for all underlying components of
the index was 535 million shares. The Commission believes that the
enormous market capitalization of RUT and the deep, liquid market for
the underlying component securities significantly reduce concerns
regarding market manipulation or disruption in the underlying market.
Removing position and exercise limits for RUT options may also bring
additional depth and liquidity, in terms of both volume and open
interest, to RUT options without significantly increasing concerns
regarding intermarket manipulation or disruption of the options or the
underlying securities.
    In addition, the Commission believes that financial requirements
imposed by both the Exchange and the Commission adequately address
concerns that an Amex member or its customer may try to maintain an
inordinately large unhedged position in RUT options. Current risk-based
haircut and margin methodologies serve to limit the size of positions
maintained by any one account by increasing the margin and/or capital
that a member must maintain for a large position held by itself or by
its customer.\17\ Under the proposal, Amex also would have the
authority under its rules to impose a higher margin requirement upon an
account maintaining an under-hedged position when it determines a
higher requirement is warranted. As noted in the Amex rules, the
clearing firm carrying the account would be subject to capital charges
under Rule 15c3-1 under the Act to the extent of any margin deficiency
resulting from the higher margin requirement.
---------------------------------------------------------------------------

    \17\ See Securities Exchange Act Release No. 41011 (February 1,
1999), 64 FR 6405 (February 9, 1999) (SR-Amex-98-38) (``XMI/XII
Pilot Approval Order'').
---------------------------------------------------------------------------

    In approving the elimination of position and exercise limits for
options on XMI, XII, and NDX, the Commission took note of the enhanced
surveillance and reporting safeguards that Amex had adopted to allow it
to detect and deter trading abuses that might arise as a result.\18\
Amex represents that it monitors trading in RUT options in much the
same manner as trading in XMI and NDX options. These safeguards,
including the 100,000-contract reporting requirement described above,
would allow Amex to monitor large positions in order to identify
instances of potential risk and to assess and respond to any market
concerns at an early stage. In this regard, the Commission expects Amex
to take prompt action, including timely communication with the
Commission and other marketplace self-regulatory organizations
responsible for oversight of trading in component stocks, should any
unanticipated adverse market effects develop. Moreover, as previously
noted, the Exchange has the flexibility to specify other reporting
requirements, as well as to vary the limit at which the reporting
requirements may be triggered.
---------------------------------------------------------------------------

    \18\ See id. and NDX Approval Order, supra note 4.
---------------------------------------------------------------------------

    The Commission further notes that in eliminating position and
exercise limits for FLEX RUT options, Amex is adopting the same
additional rules for these options that currently exist for FLEX XMI
and NDX options.
    In addition, the Commission notes that the Exchange's existing
rules applicable to position and exercise limits for full-value broad-
based index options are used to calculate the position and exercise
limits for reduced-value options. The Exchange proposes to amend its
rules for those specified broad-based index options that do not have
position and exercise limits to specifically state that there will not
be position and exercise limits on the reduced-value options on those
same broad-based index options. The Exchange also proposes to amend its
rules to state that reduced-value options will be aggregated with full-
value options when calculating reporting requirements.
    The Commission finds good cause, consistent with Section 19(b)(2)
of the Act, to grant accelerated approval of the proposed rule change
prior to the thirtieth day after the date of publication of notice
thereof in the Federal Register. The Commission notes that it recently
approved a substantially similar proposal filed by the Chicago Board
Options Exchange, Incorporated (``CBOE'').\19\ The Commission received
no comments regarding the CBOE proposal.\20\ The Commission believes
that Amex's proposal to eliminate position and exercise limits for RUT
options raises no new regulatory issues. Moreover, accelerating
approval of the proposed rule change will allow Amex members and their
customers greater hedging and investment opportunities in RUT options
without further delay.
---------------------------------------------------------------------------

    \19\ See Securities Exchange Act Release No. 56350 (September 4,
2007) (SR-CBOE-2007-79).
    \20\ See Securities Exchange Act Release No. 56191 (August 2,
2007), 72 FR 44894 (August 9, 2007) (SR-CBOE-2007-79).
---------------------------------------------------------------------------

V. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\21\ that the proposed rule change (SR-Amex-2007-81), as modified
by Amendment No. 1, be, and it hereby is, approved on an accelerated
basis.
---------------------------------------------------------------------------

    \21\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\22\

Florence E. Harmon,
Deputy Secretary.
---------------------------------------------------------------------------

    \22\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

 [FR Doc. E7-17785 Filed 9-10-07; 8:45 am]

BILLING CODE 8010-01-P