Exchange responds that the LEAD would not result in violations of the
Quote Rule because orders delayed pursuant to the LEAD would not have
been ``presented'' to LEAD MMs and therefore the duty of a broker or
dealer to stand behind its quote would not have yet vested when the
LEAD applies.\175\
---------------------------------------------------------------------------

    \171\ 17 CFR 242.602(b)(2).
    \172\ See CTC Trading Letter, supra note 5, at 6.
    \173\ See FIA PTG Letter, supra note 5, at 5; Citadel Letter,
supra note 5, at 5; NYSE Letter, supra note 5, at 2-3; and Hudson
River Trading Letter, supra note 5, at 6 (asserting that ``at best,
[the LEAD] is designed to circumvent'' the Quote Rule).
    \174\ See FIA PTG Letter, supra note 5, at 5; Hudson River
Trading Letter, supra note 5, at 6; Citadel Letter, supra note 5, at
5; NYSE Letter, supra note 5, at 2-3.
    \175\ See CHX Letter, supra note 5, at 13. One commenter agrees
with CHX's interpretation of the Quote Rule. See CTC Trading Letter,
supra note 5, at 6.
---------------------------------------------------------------------------

    The Commission notes that the firm quote provisions of the Quote
Rule require each responsible broker or dealer to execute an order
presented to it at a price at least as favorable as its published bid
or published offer in any amount up to its published quotation
size.\176\ There may be circumstances in which a LEAD MM posts a quote
on CHX, a contra-side order is submitted and delayed by the LEAD, and
the LEAD MM without any knowledge of the contra-side order modifies or
cancels its quote prior to release of the contra-side order from the
LEAD queue. In this case, the Commission believes that Quote Rule
compliance issues would not be raised because the contra-side order was
not yet presented to the LEAD MM. Accordingly, the Commission believes
that the LEAD is not inconsistent with the Quote Rule.
---------------------------------------------------------------------------

    \176\ 17 CFR 242.602(b)(2).
---------------------------------------------------------------------------

IV. Solicitation of Comments on Amendments No. 1 and No. 2

    Interested persons are invited to submit written data, views, and
arguments concerning Amendments No. 1 and No. 2. 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-2017-04 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-2017-04. 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 this filing will also 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-2017-04 and should be
submitted on or before November 15, 2017.

V. Accelerated Approval of Proposed Rule Change, as Modified by
Amendments No. 1 and No. 2

    The Commission finds good cause to approve the proposed rule
change, as modified by Amendments No. 1 and No. 2, prior to the 30th
day after the date of publication of notice of Amendments No. 1 and No.
2 in the Federal Register. Neither Amendment No. 1 nor Amendment No. 2
expands the structure of the proposed rule change as it was previously
published for notice and comment.\177\ Rather, the Exchange
circumscribed its proposal to implement the LEAD during the regular
trading session on a pilot basis to provide an opportunity to study the
impact of the LEAD Rules on the markets and to address comments by
further explaining the purpose and the intended impact of the proposal.
Accordingly, the Commission finds good cause, pursuant to Section
19(b)(2) of the Exchange Act,\178\ to approve the proposed rule change,
as modified by Amendments No. 1 and No. 2, on an accelerated basis.
---------------------------------------------------------------------------

    \177\ See supra notes 12 and 13.
    \178\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

VI. Conclusion

    For the foregoing reasons, the Commission finds that the proposed
rule change, as modified by Amendments No. 1 and No. 2, is consistent
with the Exchange Act and the rules and regulations thereunder
applicable to a national securities exchange.
    It is therefore ordered, pursuant to Section 19(b)(2) of the
Exchange Act \179\ that the proposed rule change (SR-CHX-2017-04), as
modified by Amendments No. 1 and No. 2, be, and hereby is, approved on
an accelerated basis, subject to a pilot period set to expire twenty-
four months after implementation of the pilot program.
---------------------------------------------------------------------------

    \179\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\180\
---------------------------------------------------------------------------

    \180\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-23122 Filed 10-24-17; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 84, Number 221 (Friday, November 15, 2019)]
[Notices]
[Pages 62550-62551]
[FR Doc No: 2019-24846]

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DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

[Internal Agency Docket No. FEMA-3425-EM; Docket ID FEMA-2019-0001]

Commonwealth of the Northern Mariana Islands; Emergency and
Related Determinations

AGENCY: Federal Emergency Management Agency, DHS.

ACTION: Notice.

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

SUMMARY: This is a notice of the Presidential declaration of an
emergency for the Commonwealth of the Northern Mariana Islands (FEMA-
3425-EM), dated October 20, 2019, and related determinations.

DATES: The declaration was issued October 20, 2019.

FOR FURTHER INFORMATION CONTACT: Dean Webster, Office of Response and
Recovery, Federal Emergency Management Agency, 500 C Street SW,
Washington, DC 20472,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: Notice is hereby given that, in a letter
dated October 20, 2019, the President issued an emergency declaration
under the authority of the Robert T. Stafford Disaster Relief and
Emergency Assistance Act, 42 U.S.C. 5121-5207 (the Stafford Act), as
follows:

    I have determined that the emergency conditions in certain areas
of the Commonwealth of the Northern Mariana Islands resulting from
Typhoon Bualoi beginning on October 20, 2019, and continuing, are of
sufficient severity and magnitude to warrant an emergency
declaration under the Robert T. Stafford Disaster Relief and
Emergency Assistance Act, 42 U.S.C. 5121 et seq. (``the Stafford
Act''). Therefore, I declare that such an emergency exists in the
Commonwealth of the Northern Mariana Islands.
    You are authorized to provide appropriate assistance for
required emergency measures, authorized under title V of the
Stafford Act, to save lives and to protect property and public
health and safety, and to lessen or avert the threat of a
catastrophe in the designated areas. Specifically, you are
authorized to provide assistance for emergency protective measures
(Category B), limited to direct Federal assistance, under the Public
Assistance program.
    Consistent with the requirement that Federal assistance be
supplemental, any Federal funds provided under the Stafford Act for
Public Assistance will be limited to 75 percent of the total
eligible costs. In order to provide Federal assistance, you are
hereby authorized to allocate from funds available for these
purposes such amounts as you find necessary for Federal emergency
assistance and administrative expenses.

    Further, you are authorized to make changes to this declaration
for the approved assistance to the extent allowable under the
Stafford Act.

    The Federal Emergency Management Agency (FEMA) hereby gives notice
that pursuant to the authority vested in the Administrator, Department
of Homeland Security, under Executive Order 12148, as amended, Teresa
Serata, of FEMA is appointed to act as the Federal Coordinating Officer
for this declared emergency.
    The following areas of the Commonwealth of the Northern Mariana
Islands have been designated as adversely affected by this declared
emergency:

    The municipalities of Rota, Saipan, Tinian, and the Northern
Islands for emergency protective measures (Category B), limited to
direct Federal assistance.

    The following Catalog of Federal Domestic Assistance Numbers
(CFDA) are to be used for reporting and drawing funds: 97.030,
Community Disaster Loans; 97.031, Cora Brown Fund; 97.032, Crisis
Counseling; 97.033, Disaster Legal Services; 97.034, Disaster
Unemployment Assistance (DUA); 97.046, Fire Management Assistance
Grant; 97.048, Disaster Housing Assistance to Individuals and
Households In Presidentially Declared Disaster Areas; 97.049,
Presidentially Declared Disaster Assistance--Disaster Housing
Operations for Individuals and Households; 97.050, Presidentially
Declared Disaster Assistance to Individuals and Households--Other
Needs; 97.036, Disaster Grants--Public Assistance (Presidentially
Declared Disasters); 97.039, Hazard Mitigation Grant.

Pete Gaynor,
Acting Administrator, Federal Emergency Management Agency.
[FR Doc. 2019-24846 Filed 11-14-19; 8:45 am]
 BILLING CODE 9111-23-P


[Federal Register Volume 84, Number 207 (Friday, October 25, 2019)]
[Notices]
[Pages 57444-57445]
[FR Doc No: 2019-23250]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2013-N-0190]

Agency Information Collection Activities; Submission for Office
of Management and Budget Review; Comment Request; Requirements Under
the Comprehensive Smokeless Tobacco Health Education Act of 1986, as
Amended by the Family Smoking Prevention and Tobacco Control Act

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice.

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

SUMMARY: The Food and Drug Administration (FDA or we) is announcing
that a proposed collection of information has been submitted to the
Office of Management and Budget (OMB) for review and clearance under
the Paperwork Reduction Act of 1995.

DATES: Fax written comments on the collection of information by
November 25, 2019.

ADDRESSES: To ensure that comments on the information collection are
received, OMB recommends that written comments be faxed to the Office
of Information and Regulatory Affairs, OMB, Attn: FDA Desk Officer,
Fax:<PHONE_NUMBER>, or emailed to<EMAIL_ADDRESS>All
comments should be identified with the OMB control number 0910-0671.
Also include the FDA docket number found in brackets in the heading of
this document.

FOR FURTHER INFORMATION CONTACT: Amber Sanford, Office of Operations,
Food and Drug Administration, Three White Flint North, 10A-12M, 11601
Landsdown St., North Bethesda, MD 20852,<PHONE_NUMBER>,
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: In compliance with 44 U.S.C. 3507, FDA has
submitted the following proposed collection of information to OMB for
review and clearance.

Requirements Under the Comprehensive Smokeless Tobacco Health Education
Act of 1986, as Amended by the Family Smoking Prevention and Tobacco
Control Act

OMB Control Number 0910-0671--Extension

    The Family Smoking Prevention and Tobacco Control Act (the Tobacco
Control Act) was enacted on June 22, 2009, amending the Federal Food,
Drug, and Cosmetic Act and providing FDA with the authority to regulate
tobacco products (Pub. L. 111-31; 123 Stat. 1776). Section 3 of the
Comprehensive Smokeless Tobacco Health Education Act of 1986 (the
Smokeless Tobacco Act) (15 U.S.C. 4402), as amended by section 204 of
the Tobacco Control Act, requires, among other things, that all
smokeless tobacco product packages and advertisements bear one of four
required warning statements. Section 3(b)(3)(A) of the Smokeless
Tobacco Act requires that the warnings be displayed on packaging and
advertising for each brand of smokeless tobacco ``in accordance with a
plan submitted by the tobacco product manufacturer, importer,
distributor, or retailer'' to, and approved by, FDA.
    This information collection-the submission to FDA of warning plans
for smokeless tobacco products is statutorily mandated. The warning
plans will be reviewed by FDA, as required by the Smokeless Tobacco
Act, to determine whether the companies' plans for the equal
distribution and display of warning statements on packaging and the
quarterly rotation of warning statements in advertising for each brand
of smokeless tobacco products comply with section 3 of the Smokeless
Tobacco Act, as amended. Additionally, FDA considers a submission to be
a supplement if the submitter is seeking approval of a change to an
FDA-approved warning plan.
    Based on FDA's experience over the past several years, FDA believes
the estimate of 60 hours to complete an initial rotational plan
continues to be accurate. If a supplement to an approved plan is
submitted, FDA

estimates it will take half the time per response (30 hours).
    In the Federal Register of June 13, 2019 (84 FR 27638), FDA
published a 60-day notice requesting public comment on the proposed
collection of information. Although one comment was received, it was
not responsive to the four collection of information topics solicited.
    FDA estimates the burden of this collection of information as
follows:

                                                     Table 1--Estimated Annual Reporting Burden \1\
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                            Numbers of                        Average
                        Activity                            Numbers of     responses per   Total annual     burden per      Total hours    Total capital
                                                            respondents     respondent       responses       response                          costs
--------------------------------------------------------------------------------------------------------------------------------------------------------
Submission of Initial rotational plans for health                      4               1               4              60             240             $48
 warning statements.....................................
Supplement to approved plan.............................              10               1              10              30             300             120
                                                         -----------------------------------------------------------------------------------------------
    Total...............................................  ..............  ..............  ..............  ..............             540             168
--------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ There are no operating and maintenance costs associated with this collection of information.

    FDA estimates a total of 4 respondents will submit a new original
warning plan and take 60 hours to complete a rotational warning plan
for a total of 240 burden hours. In addition, 10 respondents will
submit a supplement to an approved warning plan at 30 hours per
response for a total of 300 hours. The total burden for this collection
is estimated to be 540 hours.
    Capital costs are based on 14 respondents mailing in their
submission at a postage rate of $12 for a 5-pound parcel (business
parcel post mail delivered from the furthest delivery zone). Therefore,
FDA estimates that the total postage cost for mailing the rotational
warning plans to FDA to be $168.
    We have adjusted our burden estimate, which has resulted in a
decrease of 5,460 hours and 86 respondents to the currently approved
burden. We received a total number of 44 original smokeless warning
plans, and a total of 17 supplements. After receiving the initial
influx of original warnings plans, FDA does not expect to receive as
many original warning plans annually. We expect that a few supplements
will continue to be received as new products are marketed or as warning
plans are revised. We anticipate a total number of 10 supplements
submitted annually and 4 original smokeless warning plans.

    Dated: October 17, 2019.
Lowell J. Schiller,
Principal Associate Commissioner for Policy.
[FR Doc. 2019-23250 Filed 10-24-19; 8:45 am]
BILLING CODE 4164-01-P


[Federal Register Volume 87, Number 83 (Friday, April 29, 2022)]
[Notices]
[Page 25507]
[FR Doc No: 2022-09291]

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DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

[Internal Agency Docket No. FEMA-4640-DR; Docket ID FEMA-2022-0001]

Kansas; Amendment No. 1 to Notice of a Major Disaster Declaration

AGENCY: Federal Emergency Management Agency, Homeland Security (DHS).

ACTION: Notice.

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

SUMMARY: This notice amends the notice of a major disaster declaration
for the State of Kansas (FEMA-4640-DR), dated February 17, 2022, and
related determinations.

DATES: This amendment was issued March 22, 2022.

FOR FURTHER INFORMATION CONTACT: Dean Webster, Office of Response and
Recovery, Federal Emergency Management Agency, 500 C Street SW,
Washington, DC 20472,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: The notice of a major disaster declaration
for the State of Kansas is hereby amended to include the following
areas among those areas determined to have been adversely affected by
the event declared a major disaster by the President in his declaration
of February 17, 2022.

    Norton and Phillips Counties for Public Assistance.

    The following Catalog of Federal Domestic Assistance Numbers
(CFDA) are to be used for reporting and drawing funds: 97.030,
Community Disaster Loans; 97.031, Cora Brown Fund; 97.032, Crisis
Counseling; 97.033, Disaster Legal Services; 97.034, Disaster
Unemployment Assistance (DUA); 97.046, Fire Management Assistance
Grant; 97.048, Disaster Housing Assistance to Individuals and
Households In Presidentially Declared Disaster Areas; 97.049,
Presidentially Declared Disaster Assistance--Disaster Housing
Operations for Individuals and Households; 97.050 Presidentially
Declared Disaster Assistance to Individuals and Households--Other
Needs; 97.036, Disaster Grants--Public Assistance (Presidentially
Declared Disasters); 97.039, Hazard Mitigation Grant.

Deanne Criswell,
Administrator, Federal Emergency Management Agency.
[FR Doc. 2022-09291 Filed 4-28-22; 8:45 am]
BILLING CODE 9111-23-P


[Federal Register Volume 81, Number 129 (Wednesday, July 6, 2016)]
[Notices]
[Pages 44016-44017]
[FR Doc No: 2016-15874]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings

    Take notice that the Commission has received the following Natural
Gas Pipeline Rate and Refund Report filings:

Filings Instituting Proceedings

    Docket Numbers: RP16-1040-000.
    Applicants: National Fuel Gas Supply Corporation.
    Description: Compliance filing Notice Regarding Non-Jurisdictional
Gathering Facilities.
    Filed Date: 6/22/16.
    Accession Number: 20160622-5057.
    Comments Due: 5 p.m. ET 7/5/16.
    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 Sec.  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.

Filings in Existing Proceedings

    Docket Numbers: RP16-943-001.
    Applicants: Vector Pipeline L.P.
    Description: Compliance filing Negotiated Rate RP16-943. Compliance
Filing to be effective 6/1/2016.
    Filed Date: 6/22/16.
    Accession Number: 20160622-5017.
    Comments Due: 5 p.m. ET 7/5/16.
    Any person desiring to protest in any of the above proceedings must
file in

accordance with Rule 211 of the Commission's Regulations (18 CFR
385.211) on or before 5:00 p.m. Eastern time on the specified comment
date.
    The filings are accessible in the Commission's eLibrary system by
clicking on the links or querying the docket number.
    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: June 23, 2016.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2016-15874 Filed 7-5-16; 8:45 am]
 BILLING CODE 6717-01-P


[Federal Register Volume 87, Number 109 (Tuesday, June 7, 2022)]
[Notices]
[Pages 34740-34742]
[FR Doc No: 2022-12167]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-95015; File No. SR-NYSECHX-2022-09]

Self-Regulatory Organizations; NYSE Chicago, Inc.; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To Adopt a
New Rule 11.2210

June 1, 2022.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that, on May 20, 2022, the NYSE Chicago, Inc. (``NYSE Chicago''
or ``Exchange'') 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 by the Exchange. The
Exchange filed the proposed rule change as a ``non-controversial''
proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act
\4\ and Rule 19b-4(f)(6) thereunder.\5\ 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\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
    \4\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \5\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

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

    The Exchange proposes, in connection with a companion filing to
adopt investigation, disciplinary, sanction, and other procedural rules
modeled on the rules of its affiliates, to adopt a new Rule 11.2210
governing communications with the public that would incorporate FINRA
Rule 2210 by reference and rename and amend Article 8, Rule 13
governing advertising, promotion and telemarketing. The proposed rule
change is available on the Exchange's website at www.nyse.com, at the
principal office of the Exchange, and at the Commission's Public
Reference Room.

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

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

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

1. Purpose
    In connection with a companion filing to adopt investigation,
disciplinary, sanction, and other procedural rules modeled on the rules
of its affiliates,\6\ the Exchange proposes to adopt a new Rule 11.2210
(Communications with the Public) governing communications with the
public that would incorporate FINRA Rule 2210 by reference and rename
and amend Article 8, Rule 13 governing advertising, promotion and
telemarketing.
---------------------------------------------------------------------------

    \6\ See SR-NYSECHX-2022-10.
---------------------------------------------------------------------------

Background
    Beginning in 2013, each of the Exchange's affiliates have adopted
rules relating to investigation, discipline, sanction, and other
procedural rules based on the rules of the Financial Industry
Regulatory Authority (``FINRA'').\7\ To facilitate rule

harmonization among self-regulatory organizations, the Exchange has
separately proposed the NYSE Chicago Rule 10.8000 and 10.9000 Series
based on the text of the NYSE Arca Rule 10.8000 and Rule 10.9000
Series, with certain changes, as described in its companion filing.
---------------------------------------------------------------------------

    \7\ In 2013, the Commission approved the New York Stock Exchange
LLC's (``NYSE'') adoption of FINRA's disciplinary rules. See
Securities Exchange Act Release No. 69045 (March 5, 2013), 78 FR
15394 (March 11, 2013) (SR-NYSE-2013-02). In 2016, NYSE American LLC
(``NYSE American'') adopted its Rule 8000 and Rule 9000 Series based
on the NYSE and FINRA Rule 8000 and Rule 9000 Series. See Securities
Exchange Act Release Nos. 77241 (February 26, 2016), 81 FR 11311
(March 3, 2016) (SR-NYSEMKT-2016-30). In 2018, the Commission
approved NYSE National, Inc.'s (``NYSE National'') adoption of the
NYSE National Rule 10.8000 and Rule 10.9000 Series based on the NYSE
American and FINRA Rule 8000 and Rule 9000 Series. See Securities
Exchange Act Release No. 83289 (May 17, 2018), 83 FR 23968 (May 23,
2018) (SR-NYSENat-2018-02). In 2019, NYSE Arca, Inc. (``NYSE Arca'')
adopted the NYSE Arca Rule 10.8000 and 10.9000 Series based on the
NYSE American Rule 8000 and Rule 9000 Series. See Securities
Exchange Act Release No. 85639 (April 12, 2019), 84 FR 16346 (April
18, 2019) (SR-NYSEArca-2019-15).
---------------------------------------------------------------------------

    The proposed NYSE Chicago Rule 10.8000 and 10.9000 Series contain
rules that presume that the Exchange has adopted FINRA Rule 2210.
Specifically, Rule 10.9551 (Failure to Comply with Public Communication
Standards Pursuant to FINRA Rule 2210 as Incorporated by Reference in
Rule 11.2210) would permit Exchange regulatory staff to issue a written
notice requiring a Participant or Participant Firm to file
communications with FINRA's Advertising Regulation Department at least
10 days prior to use if the staff determined that the Participant or
Participant Firm had departed from the standards of proposed Rule
11.2210. The Participant or Participant Firm could file a written
request for a hearing with the Office of Hearing Officers pursuant to
proposed Rule 10.9559. FINRA Rule 2210 proposed to be incorporated by
reference in proposed Rule 11.2210 references the procedures in FINRA
Rules 9551 and 9559, which are substantially the same as those in
proposed Rules 10.9551 and 10.9559. Similarly, FINRA Rule 2210 proposed
to be incorporated by reference in proposed Rule 11.2210 references the
procedures in the FINRA Rule 9600 Series for obtaining exemptive relief
as permitted under FINRA Rule 2210. The FINRA Rule 9600 Series is
substantially the same as the proposed Rule 10.9600 Series.
    Current Article 8, Rule 13 governs advertising, promotion and
telemarketing.
Proposed Rule Change
    Proposed Rule 11.2210 would provide that Participants, Participant
Firms and covered persons shall comply with FINRA Rule 2210, which is
incorporated by reference herein, as if such Rule were part of the
Exchange's rules. The proposed rule would further provide that
references to FINRA Rule 2210 would be construed as references to Rule
11.2210. The proposed rule would also provide that references to FINRA
Rules 9551 and 9559 and to the FINRA Rule 9600 Series in FINRA Rule
2210 shall be construed as references to the Exchange's Rules 10.9551
and 10.9559 and to the Rule 10.9600 Series, respectively. Finally,
proposed Rule 11.2210 would provide that all defined terms, including
any variations thereof, contained in the rule shall be read to refer to
the Exchange-related meaning of such term. The proposed rule is the
same as the version adopted by the Exchange's affiliate NYSE National
except that the Exchange would use ``Participants'' and ``Participant
Firms'' rather than ``ETP Holders'' and would use ``covered persons''
rather than ``Associated Persons of ETP Holders.'' \8\
---------------------------------------------------------------------------

    \8\ See Securities Exchange Act Release No. 83289 (May 17,
2018), 83 FR 23968 (May 23, 2018) (SR-NYSENat-2018-02). The Exchange
also proposes to insert a space between ``Rule 11.5190'' and
``Notification'' in the heading following proposed Rule 11.2210.
---------------------------------------------------------------------------

    Article 8, Rule 13, which governs advertising, promotion and
telemarketing, would be renamed ``Telemarketing'' by deleting
``Advertising'' and ``Promotion'' from the current heading. The
Exchange would also amend current Article 8, Rule 13 to remove those
portions of the current rule that are duplicative of the standards set
forth in FINRA Rule 2210. Specifically, the Exchange would delete
subsection (a) prohibiting false and misleading advertisement, which is
duplicative of FINRA Rule 2210(d)(1)(B); \9\ subsection (b) setting
forth categories and standards of advertisement, which is duplicative
of FINRA Rule 2210(a); and subsection (c) governing market letters and
sales literature, which is duplicative of the approval and review
requirements set forth in FINRA Rule 2210(b). The remaining thirteen
subsections of Article 8, Rule 13 from (d) to (p) governing
telemarketing practices would become new subsections (a) to (m),
respectively. The remaining subsections of Article 8, Rule 13 overlap
with FINRA Rule 3230 (Telemarketing).\10\
---------------------------------------------------------------------------

    \9\ Article 8, Rule 13(a) is currently subject to a plan for the
allocation of regulatory responsibilities pursuant to Rule 17d-2 of
the Act that the Exchange and FINRA have filed with the Commission
(``17d-2 Plan''). See 17 CFR 240.17d-2; Securities Exchange Act
Release No. 62657 (August 5, 2010), 75 FR 49005 (August 12, 2010)
(No. 4-274) (Notice); Securities Exchange Act Release No. 62866
(September 8, 2010), 75 FR 55833 (August 14, 2010) (No. 4-274)
(Order). The Exchange and FINRA are also parties to a Regulatory
Services Agreement pursuant to which FINRA has agreed to perform
certain regulatory functions of the Exchange on behalf of the
Exchange and which cover the remaining subsections of Article 8,
Rule 13 with the exception of subsection (d). See note 8, infra.
    \10\ Article 8, Rule 13(d) is in fact part of the existing 17d-2
Plan. See Securities Exchange Act Release No. 85921 (May 23, 2019),
84 FR 25105 (May 30, 2019) (No. 4-274) (Notice); Securities Exchange
Act Release No. 86161 (June 20, 2019), 84 FR 29923 (June 25, 2019)
(No. 4-274) (Order).
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Exemption Request
    The Exchange will request an exemption under Section 36 of the Act
from the rule filing requirements of Section 19(b) of the Act with
respect to the incorporation by reference of proposed Rule 11.2210 and
to the extent Rule 11.2210 is effected solely by virtue of a change to
cross-referenced FINRA rule.\11\
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    \11\ See 15 U.S.C. 78s(b).
---------------------------------------------------------------------------

Implementation
    The proposed rule changes that are the subject of this filing will
be operative on the same date that the new disciplinary rules will be
effective but only if the Exchange's request for an exemption under
Section 36 of the Act from filing proposed rule changes, described
above, is granted by that date. As explained in the Exchange's
companion filing to adopt new disciplinary rules, once that proposed
rule change is effective, the Exchange intends to announce by
Information Memorandum with at least 30 days advance notice the
operative date of the new rules. In the event the exemption is not
granted by date announced in the proposed Information Memorandum, the
Exchange will submit a filing to designate a different operative date.
2. Statutory Basis
    The proposed rule change is consistent with Section 6(b) of the
Act,\12\ in general, and furthers the objectives of Section 6(b)(5) of
the Act,\13\ 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, 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.
---------------------------------------------------------------------------

    \12\ 15 U.S.C. 78f(b).
    \13\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Exchange believes that proposed Rule 11.2210, which would be
new for the Exchange, would provide for a harmonized approach and
promote application of consistent regulatory standards to Participant
and Participant

Firm requirements relating to communications with the public by
incorporating by reference the FINRA communications with the public
rule, thereby promoting just and equitable principles of trade and
removing impediments to and perfecting the mechanism of a free and open
market and a national market system, and in general, protecting
investors and the public interest. In addition, incorporation of FINRA
Rule 2210 by reference would add clarity and transparency to the
Exchange's rules by separating the standards governing communications
with the public and telemarketing into distinct rules similar to the
approach taken by FINRA.

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. The proposed change is not
designed to address any competitive issue but rather to provide greater
harmonization between Exchange and FINRA rules of similar purpose
relating to communications with the public.

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

    The Exchange has filed the proposed rule change pursuant to Section
19(b)(3)(A)(iii) of the Act \14\ and Rule 19b-4(f)(6) thereunder.\15\
Because the proposed rule change does not: (i) significantly affect the
protection of investors or the public interest; (ii) impose any
significant burden on competition; and (iii) become operative prior to
30 days from the date on which it was filed, or such shorter time as
the Commission may designate, if consistent with the protection of
investors and the public interest, the proposed rule change has become
effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-
4(f)(6)(iii) thereunder.
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    \14\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \15\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of such 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. If the Commission
takes such action, the Commission shall institute proceedings under
Section 19(b)(2)(B) \16\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
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    \16\ 15 U.S.C. 78s(b)(2)(B).
---------------------------------------------------------------------------

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 protected]. Please include
File Number SR-NYSECHX-2022-09 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-NYSECHX-2022-09. 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-NYSECHX-2022-09 and should be submitted
on or before June 28, 2022.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\17\
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    \17\ 17 CFR 200.30-3(a)(12).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-12167 Filed 6-6-22; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 80, Number 159 (Tuesday, August 18, 2015)]
[Notices]
[Pages 50018-50020]
[FR Doc No: 2015-20401]

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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

DEPARTMENT OF TRANSPORTATION

DEPARTMENT OF DEFENSE

U.S. Army Corps of Engineers

[DOT-OST-2015-0105]

Nationwide Differential Global Positioning System (NDGPS)

AGENCY: DHS--Coast Guard, DOT--Office of the Assistant Secretary for
Research and Technology (OST-R), and DOD--U.S. Army Corps of Engineers,
Office of Engineering and Construction

ACTION: Notice; request for public comments.

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SUMMARY: The Nationwide Differential Global Positioning System (NDGPS)
service augments GPS by providing increased accuracy and integrity
using land-based reference stations to transmit correction messages
over radiobeacon frequencies. The service was implemented through
agreements between multiple Federal agencies including the United
States Coast Guard (USCG), Department of Transportation (DOT), and
United States Army Corps of Engineers (USACE), as well as several
states and scientific organizations, all cooperating to provide the
combined national DGPS utility. However, a number of factors have
contributed to declining use of NDGPS and, based on an assessment by
the Department of Homeland Security (DHS), DOT, and USACE, DHS, DOT,
and USACE are proposing to shutdown and decommission 62 DGPS sites,
which will leave 22 operational sites available to users in coastal
areas. This notice seeks public comments on the shutdown and
decommissioning of a total of 62 DGPS sites. Termination of the NDGPS
broadcast at these sites is planned to occur on January 15, 2016.

DATES: Comments and related material must reach the Docket Management
Facility on or before November 16, 2015.

ADDRESSES: You may submit comments identified by docket number DOT-OST-
2015-0105 using any one of the following methods:
    (1) Federal eRulemaking Portal: http://www.regulations.gov.
    (2) Fax:<PHONE_NUMBER>.
    (3) Mail: Docket Management Facility (M-30), U.S. Department of
Transportation, West Building Ground Floor, Room W12-140, 1200 New
Jersey Avenue SE., Washington, DC 20590-0001.
    (4) Hand delivery: Same as mail address above, between 9 a.m. and 5
p.m., Monday through Friday, except Federal holidays. The telephone
number is<PHONE_NUMBER>.
    To avoid duplication, please use only one of these four methods.
See the ``Public Participation'' portion of the SUPPLEMENTARY
INFORMATION section below for instructions on submitting comments.

FOR FURTHER INFORMATION CONTACT: If you have questions on this notice,
contact CAPT Scott Smith, Coast Guard, telephone<PHONE_NUMBER> or email
<EMAIL_ADDRESS>or James Arnold, OST-R, NDGPS Program Manager,
telephone<PHONE_NUMBER> or

email<EMAIL_ADDRESS>If you have questions on viewing or submitting
material to the docket, call Cheryl Collins, Docket Operations,
telephone<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Public Participation

    You may submit comments and related material regarding this
proposed action. All comments received will be posted, without change,
to http://www.regulations.gov and will include any personal information
you have provided.
    Submitting comments: If you submit a comment, please include the
docket number for this notice (DOT-OST-2015-0105) and provide a reason
for each suggestion or recommendation. You may submit your comments and
material online or by fax, mail or hand delivery, but please use only
one of these means. We recommend that you include your name and a
mailing address, an email address, or a telephone number in the body of
your document so that we can contact you if we have questions regarding
your submission.
    To submit your comment online, go to http://www.regulations.gov and
use ``DOT-OST-2015-0105'' as your search term. Locate this notice in
the results and click the corresponding ``Comment Now'' box to submit
your comment. 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.
    We will consider all comments and material received during the
comment period.
    Viewing the comments: To view comments, as well as documents
mentioned in this notice as being available in the docket, go to http://www.regulations.gov and use ``DOT-OST-2015-0105'' as your search term.
Use the filters on the left side of the page to highlight ``Public
Submissions'' or other document types. If you do not have access to the
Internet, you may view the docket online by visiting the Docket
Management Facility in Room W12-140 on the ground floor of the
Department of Transportation West Building, 1200 New Jersey Avenue SE.,
Washington, DC 20590, between 9 a.m. and 5 p.m., Monday through Friday,
except Federal holidays.
    Privacy Act: Anyone can search the electronic form of comments
received into any of our dockets by the name of the individual
submitting the comment (or signing the comment, if submitted on behalf
of an association, business, labor union, etc.). You may review a
Privacy Act system of records notice regarding our public dockets in
the January 17, 2008 issue of the Federal Register (73 FR 3316).

Background and Purpose

    The Coast Guard (USCG) began development of the Maritime
Differential Global Positioning System (MDGPS) in the late 1980s. The
GPS Standard Positioning Service (SPS) lacked sufficient accuracy and
timely integrity monitoring, and soon later, was unable to meet
requirements for coastal and Harbor Entrance and Approach (HEA) phases
of navigation found in the International Association of Marine Aids to
Navigation and Lighthouse Authorities (IALA) R-121 and International
Maritime Organization (IMO) A.953(23) recommendations, and to support
the buoy positioning mission. The differential technique used by DGPS
employs the installation of navigation equipment at a precisely known
location. The equipment receives the GPS signal and compares the
position solution from the received signal to its known location. The
result of this comparison is then generated in the form of a correction
message and sent to local users via radiobeacon broadcast to improve
the accuracy and integrity of GPS-derived positions. In March of 1999,
the MDGPS service was certified to meet the performance standards
required for HEA navigation with its 49 geographically dispersed sites
providing coverage to a number of ports and waterways in the contiguous
United States, Alaska, Hawaii, and Puerto Rico. MDGPS provided improved
horizontal positioning accuracy of better than 10 meters, integrity
(signal accuracy and continuity of delivery checking) alarms for GPS,
and MDGPS out-of-tolerance conditions within 10 seconds of detection.
    In 1997, the Department of Transportation and Related Agencies
Appropriations Act of 1998 (Pub. L. 105-66, section 346 (111 Stat.
1449)) authorized the implementation of the inland component of the
system. As a result, 29 additional inland sites were added to the
network. These sites, along with seven sites provided by the U.S. Army
Corps of Engineers, became known as Nationwide DGPS (NDGPS). The USCG
was designated as lead for implementation, operation, and maintenance
of the service. DOT is the NDGPS sponsor and chairs the multi-agency
NDGPS Policy and Implementation Team (PIT) which directs the overall
management of the NDGPS system. In cooperation with DOT, DHS, and
USACE, many states and scientific organizations are also beneficiaries
of the DGPS system, such as the National Weather Service's Forecast
System Laboratory for short-term precipitation forecasts, and the
University NAVSTAR Consortium for plate tectonic monitoring.
    However, a number of factors have contributed to the declining use
of NDGPS. Contributing factors include: (1) USCG changes in policy to
allow aids to navigation (ATON) to be positioned with a GPS receiver
using Receiver Autonomous Integrity Monitoring (RAIM), which assesses
the integrity of a GPS signal within the receiver; (2) increased use of
Wide Area Augmentation System (WAAS) in commercial maritime
applications, which uses ground-based reference stations and satellite
communications to improve accuracy; (3) limited availability of
consumer-grade NDGPS receivers; (4) no NDGPS mandatory carriage
requirement on any vessel within U.S. territorial waters; (5) the May
1, 2000 Presidential Directive discontinuing GPS Selective Availability
http://clinton4.nara.gov/WH/EOP/OSTP/html/0053_2.html; (6) continuing
GPS modernization; and (7) the DOT Federal Railroad Administration's
determination \1\ that NDGPS is not a requirement for the successful
implementation of Positive Train Control (PTC), which provides the
railway system the capability to positively enforce movement
authorities along railroad systems.
---------------------------------------------------------------------------

    \1\ Letter from Federal Railroad Administration to USCG dated
January 29, 2013 with subject ``Elimination of the Requirement for
the NDGPS to support PTC mandated by the RSIA of 2008.''
---------------------------------------------------------------------------

    In April 2013, DHS and DOT published a notice in the Federal
Register \2\ announcing that DHS and DOT were in the process of
analyzing the current and future user needs and requirements for NDGPS,
and requesting public comment on:
---------------------------------------------------------------------------

    \2\ 78 FR 22554 (Apr. 16, 2013). The Notice was published under
docket numbers, USCG-2013-0054 and RITA-2013-0001.
---------------------------------------------------------------------------

    (1) The commenter's usage of NDGPS for positioning, navigation, and
timing;
    (2) The impact on NDGPS users if NDGPS were discontinued;
    (3) If NDGPS were discontinued, the possible alternatives for
meeting users' positioning, navigation, and timing requirements; and
    (4) Potential alternative uses for the existing NDGPS
infrastructure.
    The response to the 2013 notice was limited, but the responses
received were well informed on the NDGPS system, its

use, and current and potential applications. While a limited number of
responders found the broadcast of corrections to be beneficial, no
respondents reported the discontinuance of DGPS broadcast to be
detrimental or harmful. Ship pilots in particular noted that DGPS can
be critical in confined waterways for precise shiphandling maneuvers.
    Several commenters noted that NDGPS is part of the Continuously
Operating Reference Stations (CORS) \3\ network, which is used with GPS
data to improve the precision of positioning, has value while others
stated they had alternative networks available. The USCG cooperates
with National Oceanic and Atmospheric Administration's (NOAA) National
Geodetic Survey (NGS) to supplement their network of CORS reference
stations with NDGPS sites. Today, DGPS sites account for approximately
5% of the CORS network, which is comprised of more than 1,900 geodetic-
grade GPS receivers. CORS is widely used by Federal, state, and non-
government entities throughout the United States to provide data for 3-
dimensional positioning for use in land surveys, Geographic Information
Systems (GIS), Land Information Systems (LIS), and environmental
management. Additionally, raw GPS data is provided to NOAA's National
Weather Service from all DGPS sites for weather analysis and
prediction.
---------------------------------------------------------------------------

    \3\ CORS support surveying, mapping, and related disciplines
that have accuracy requirements which require the use of a relative
positioning technique. CORS automatically collect and record the GPS
data at known locations in support of these activities.
---------------------------------------------------------------------------

    A few respondents noted the broadcast signals provide non-line-of-
sight benefits. Respondents suggested alternatives to NDGPS as
currently implemented, such as using existing NDGPS stations to
rebroadcast WAAS corrections, adding other data to the broadcast,
integrating the broadcast with positioning technologies, or simply
streaming data from the reference stations.
    After considering the comments and based on an assessment by DHS,
DOT, and USACE, we propose to shutdown and decommission 62 sites, which
is planned to occur on January 15, 2016, which will leave 22
operational sites available to users in those waterway where pilots
generally operate, i.e., where marine traffic is most frequent and the
need for precise marine navigation is greatest. However, it is possible
for the reference stations to be transitioned to other Federal, state,
and/or local agencies. Questions about potential transition of specific
reference stations should be directed to the individual(s) referenced
in the FOR FURTHER INFORMATION CONTACT section above.
    The specific sites to be disestablished are:
    Maritime Sites:

 Appleton, WA
 Biorka, AK
 Bobo, MS
 Brunswick, ME
 Cape Hinchinbrook, AK
 Cheboygan, MI
 Cold Bay, AK
 Driver, VA
 Eglin, FL
 Gustavus, AK
 Isabela, PR
 Key West, FL
 Kodiak, AK
 Kokole Point, HI
 Level Island, AK
 Lompoc, CA
 Mequon, MI
 New Bern, NC
 Penobscot, ME
 Pigeon Point, CA
 Robinson Pt, WA
 Saginaw, MI
 Sandy Hook, NJ
 Sturgeon Bay, WI
 Upper Keweenaw, MI
 Wisconsin Point, WI
 Youngstown, NY

    Inland Sites:

 Albuquerque, NM
 Austin, NV
 Bakersfield, CA
 Billings, MT
 Chico, CA
 Clark, SD
 Dandridge, TN
 Essex, CA
 Flagstaff, AZ
 Greensboro, NC
 Hackleburg, AL
 Hagerstown, MD
 Hartsville, TN
 Hawk Run, PA
 Hudson Falls, NY
 Klamath Falls, OR
 Macon, GA
 Medora, ND
 Myton, UT
 Pine River, MN
 Polson, MT
 Pueblo, CO
 Savannah, GA
 Seneca, OR
 Spokane, WA
 St. Marys, WV
 Summerfield, TX
 Topeka, KS
 Whitney, NE

    Inland Sites operated by the U.S. Army Corps of Engineers:

 Louisville, KY
 Millers Ferry, AL
 Rock Island, IA
 Sallisaw, OK
 St. Louis, MO
 St. Paul (Alma), MN

    For more information on the NDGPS, visit the USCG's Web site at
http://www.navcen.uscg.gov/?pageName=dgpsMain. Additional information
on GPS, NDGPS, and other GPS augmentation systems is available in the
2014 Federal Radionavigation Plan, published by the Department of
Defense, DHS, and DOT, which is also available at the USCG's Web site
at http://www.navcen.uscg.gov/?pageName=pubsMain.

Request for Comments

    This notice seeks public comments on the shutdown and
decommissioning of a total of 62 DGPS sites, which would leave 22
operational sites available to users in coastal areas on January 15,
2016.
    Graphics showing the predicted coverage before and after the
proposed sites are decommissioned, and a list of the sites, is
available at the USCG's NDGPS General Information Web site at: http://www.navcen.uscg.gov/?pageName=dgpsMain.

Authority

    This notice is issued under the authority of 5 U.S.C. 552(a), 14
U.S.C. 81, and 49 U.S.C. 301 (Pub. L. 105-66, section 346).

    Issued in Washington, DC, on August 10, 2015.
 Gary Rasicot,
Director of Marine Transportation Systems, U.S. Coast Guard.
 Gregory D. Winfree,
Assistant Secretary for Research and Technology, U.S. Department of
Transportation.
 Robert A. Bank,
Chief, Civil Works Branch of Engineering and Construction, U.S. Army
Corps of Engineers.
[FR Doc. 2015-20401 Filed 8-17-15; 8:45 am]
 BILLING CODE 4910-9X-P


[Federal Register Volume 88, Number 113 (Tuesday, June 13, 2023)]
[Notices]
[Pages 38513-38516]
[FR Doc No: 2023-12547]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2023-N-1929]

Agency Information Collection Activities; Proposed Collection;
Comment Request; Orphan Drugs

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice.

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SUMMARY: The Food and Drug Administration (FDA, Agency, or we) is
announcing an opportunity for public comment on the proposed collection
of certain information by the Agency. Under the Paperwork Reduction Act
of 1995 (PRA), Federal Agencies are

required to publish notice in the Federal Register concerning each
proposed collection of information, including each proposed extension
of an existing collection of information, and to allow 60 days for
public comment in response to the notice. This notice solicits comments
on information collection associated with orphan drug requirements.

DATES: Either electronic or written comments on the collection of
information must be submitted by August 14, 2023.

ADDRESSES: You may submit comments as follows. Please note that late,
untimely filed comments will not be considered. The https://www.regulations.gov electronic filing system will accept comments until
11:59 p.m. Eastern Time at the end of August 14, 2023. Comments
received by mail/hand delivery/courier (for written/paper submissions)
will be considered timely if they are received on or before that date.

Electronic Submissions

    Submit electronic comments in the following way:
     Federal eRulemaking Portal: https://www.regulations.gov.
Follow the instructions for submitting comments. Comments submitted
electronically, including attachments, to https://www.regulations.gov
will be posted to the docket unchanged. Because your comment will be
made public, you are solely responsible for ensuring that your comment
does not include any confidential information that you or a third party
may not wish to be posted, such as medical information, your or anyone
else's Social Security number, or confidential business information,
such as a manufacturing process. Please note that if you include your
name, contact information, or other information that identifies you in
the body of your comments, that information will be posted on https://www.regulations.gov.
     If you want to submit a comment with confidential
information that you do not wish to be made available to the public,
submit the comment as a written/paper submission and in the manner
detailed (see ``Written/Paper Submissions'' and ``Instructions'').

Written/Paper Submissions

    Submit written/paper submissions as follows:
     Mail/Hand Delivery/Courier (for written/paper
submissions): Dockets Management Staff (HFA-305), Food and Drug
Administration, 5630 Fishers Lane, Rm. 1061, Rockville, MD 20852.
     For written/paper comments submitted to the Dockets
Management Staff, FDA will post your comment, as well as any
attachments, except for information submitted, marked and identified,
as confidential, if submitted as detailed in ``Instructions.''
    Instructions: All submissions received must include the Docket No.
FDA-2023-N-1929 for ``Orphan Drug Designation.'' Received comments,
those filed in a timely manner (see ADDRESSES), will be placed in the
docket and, except for those submitted as ``Confidential Submissions,''
publicly viewable at https://www.regulations.gov or at the Dockets
Management Staff between 9 a.m. and 4 p.m., Monday through Friday, 240-
402-7500.
     Confidential Submissions--To submit a comment with
confidential information that you do not wish to be made publicly
available, submit your comments only as a written/paper submission. You
should submit two copies total. One copy will include the information
you claim to be confidential with a heading or cover note that states
``THIS DOCUMENT CONTAINS CONFIDENTIAL INFORMATION.'' The Agency will
review this copy, including the claimed confidential information, in
its consideration of comments. The second copy, which will have the
claimed confidential information redacted/blacked out, will be
available for public viewing and posted on https://www.regulations.gov.
Submit both copies to the Dockets Management Staff. If you do not wish
your name and contact information to be made publicly available, you
can provide this information on the cover sheet and not in the body of
your comments and you must identify this information as
``confidential.'' Any information marked as ``confidential'' will not
be disclosed except in accordance with 21 CFR 10.20 and other
applicable disclosure law. For more information about FDA's posting of
comments to public dockets, see 80 FR 56469, September 18, 2015, or
access the information at: https://www.govinfo.gov/content/pkg/FR-2015-09-18/pdf/2015-23389.pdf.
    Docket: For access to the docket to read background documents or
the electronic and written/paper comments received, go to https://www.regulations.gov and insert the docket number, found in brackets in
the heading of this document, into the ``Search'' box and follow the
prompts and/or go to the Dockets Management Staff, 5630 Fishers Lane,
Rm. 1061, Rockville, MD 20852,<PHONE_NUMBER>.

FOR FURTHER INFORMATION CONTACT: JonnaLynn Capezzuto, Office of
Operations, Food and Drug Administration, Three White Flint North, 10A-
12M, 11601 Landsdown St., North Bethesda, MD 20852,<PHONE_NUMBER>,
[email protected].

SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3521), Federal
Agencies must obtain approval from the Office of Management and Budget
(OMB) for each collection of information they conduct or sponsor.
``Collection of information'' is defined in 44 U.S.C. 3502(3) and 5 CFR
1320.3(c) and includes Agency requests or requirements that members of
the public submit reports, keep records, or provide information to a
third party. Section 3506(c)(2)(A) of the PRA (44 U.S.C. 3506(c)(2)(A))
requires Federal Agencies to provide a 60-day notice in the Federal
Register concerning each proposed collection of information, including
each proposed extension of an existing collection of information,
before submitting the collection to OMB for approval. To comply with
this requirement, FDA is publishing notice of the proposed collection
of information set forth in this document.
    With respect to the following collection of information, FDA
invites comments on these topics: (1) whether the proposed collection
of information is necessary for the proper performance of FDA's
functions, including whether the information will have practical
utility; (2) the accuracy of FDA's estimate of the burden of the
proposed collection of information, including the validity of the
methodology and assumptions used; (3) ways to enhance the quality,
utility, and clarity of the information to be collected; and (4) ways
to minimize the burden of the collection of information on respondents,
including through the use of automated collection techniques, when
appropriate, and other forms of information technology.

Orphan Drugs--21 CFR Part 316

OMB Control Number 0910-0167--Extension

    This information collection helps support implementation of
sections 525, 526, 527, and 528 of the Federal Food, Drug, and Cosmetic
Act (FD&C Act) (21 U.S.C. 360aa, 360bb, 360cc, and 360dd), as well as
related guidance and Agency forms. Sections 525, 526, 527, and 528 of
the FD&C Act pertain to the development of drugs for rare diseases or
conditions, including biological products and antibiotics, otherwise
known or referred to as ``orphan drugs.'' Specifically, section 525 of
the FD&C Act requires written recommendations on studies required for
approval of a marketing application for a drug for a rare disease or
condition. Section 526 of

the FD&C Act provides for designation of drugs as orphan drugs when
certain conditions are met; section 527 provides conditions under which
a sponsor of an approved orphan drug enjoys exclusive FDA marketing
approval for that drug for the orphan indication for a period of 7
years; and, finally, section 528 is intended to encourage sponsors to
make investigational orphan drugs available for treatment of persons in
need on an open protocol basis before the drug has been approved for
general marketing. Open protocols may permit patients who are not part
of the formal clinical investigation to obtain treatment where adequate
supplies exist and no alternative effective therapy is available.
    Agency regulations in part 316, subpart A (21 CFR part 316, subpart
A) (Sec. Sec.  316.1 through 316.4) identify the scope of coverage,
applicable definitions, and statutory provisions applicable to orphan
drugs. The regulations in part 316, subpart B (Sec. Sec.  316.10
through 316.14) set forth content and format elements for written
recommendation requests and discuss FDA providing or refusing to
provide the requested written recommendations. Similarly, regulations
in part 316, subpart C (Sec. Sec.  316.20 through 316.30) prescribe
content and format elements for requesting orphan drug designation;
identify submission schedules for requisite information including
amendments, updates, and reports; and provide for publication and
revocation of orphan drug designation. Regulations in part 316,
subparts D and E (Sec. Sec.  316.31 through 316.40) address orphan drug
exclusive approval and open protocols for investigations, respectively.
Finally, regulations in part 316, subpart F (Sec. Sec.  316.50 through
316.52) provide for the issuance of guidance documents that apply to
the orphan drug provisions of the FD&C Act and regulations in part 316.
The list is maintained on the internet and guidance documents are
issued in accordance with our good guidance practices regulation in 21
CFR 10.115, which provide for public comment at any time.
    The information collection includes the Agency guidance document
entitled ``Meetings with the Office of Orphan Products Development:
Guidance for Industry, Researchers, Patient Groups, and Food and Drug
Administration Staff'' (July 2015), available for download at: https://www.fda.gov/regulatory-information/search-fda-guidance-documents/meetings-office-orphan-products-development. It provides
recommendations to industry, researchers, patient groups, and other
stakeholders interested in requesting a meeting, including a
teleconference, with the Office of Orphan Products Development (OOPD)
on issues related to orphan drug designation requests, humanitarian use
device designation requests, rare pediatric disease designation
requests, funding opportunities through the Orphan Products Grants
Program and the Pediatric Device Consortia Grants Program, and orphan
product patient-related topics of concern. It is also intended to
assist OOPD staff in addressing such meeting requests. The guidance
describes procedures for requesting, preparing, scheduling, conducting,
and documenting such meetings and discusses background information we
recommend be included in such requests.
    The information collection includes Form FDA 3671, Common EMEA/FDA
Application for Orphan Medicinal Product, and Form FDA 4035, FDA Orphan
Drug Designation Request Form, intended to benefit sponsors who desire
to seek orphan designation of drugs intended for rare diseases or
conditions from FDA. The form is a simplified method for sponsors to
provide only the information required by Sec.  316.20 for FDA decision
making. Orphan drug designation requests and related submissions
(amendments, annual reports, etc.), humanitarian use device
designation, and rare pediatric disease designation requests and
submissions may be submitted electronically by email to the OOPD.
    As communicated on our website at https://www.fda.gov/industry/medical-products-rare-diseases-and-conditions/designating-orphan-product-drugs-and-biological-products, respondents may submit orphan
drug designation requests electronically through the Center for Drug
Evaluation and Research (CDER) NextGen portal, or by emailing the
required information to [email protected]; or by mailing the required
information to the OOPD at the address found on our website. New users
of the CDER NextGen Portal must register for an account. For
designation requests submitted by email, the Agency recommends using
automated read receipt to verify receipt of the email.
    Sponsors and others who plan to email information to FDA that is
private, sensitive, proprietary, or commercial confidential are
strongly encouraged to send it from an FDA-secured email address so the
transmission is encrypted. The Agency will assume the addresses of
emails received or email addresses provided as a point of contact are
secure when responding to those email addresses. Sponsors and others
can establish a secure email address link to FDA by sending a request
to [email protected]. There may be a fee to a commercial
enterprise for establishing a digital certificate before encrypted
emails can be sent to FDA.
    Respondents to the information collection are sponsors who develop
investigational drugs and biologicals for commercial use and who seek
orphan drug designation, and upon approval or licensure, orphan drug
exclusivity.
    We estimate the burden of this collection of information as follows
based on data from 2022:

                               Table 1--Estimated Annual Recordkeeping Burden \1\
----------------------------------------------------------------------------------------------------------------
                                                     Number of                        Average
21 CFR part or section; activity     Number of      records per    Total annual     burden per      Total hours
                                    respondents    recordkeeper       records         record
----------------------------------------------------------------------------------------------------------------
Part 316 associated records.....             780            1.25             975             135         131,625
Sec.  Sec.   316.20, 316.21,                 780            1.25             975              32          31,200
 316.26 (Form FDA 4035).........
Sec.   316.22; Notifications of              300               1             300             0.5             150
 changes in agents..............
Sec.   316.24(a); Deficiency                  20               1              20               2              40
 letters and granting orphan-
 drug designation...............
Sec.   316.27; Submissions to                 90               1              90               3             270
 change ownership of orphan-drug
 designation....................
Sec.   316.30; Annual reports...           2,039               1           2,039               3           6,117
Sec.   316.36; Assurance of the                1               3               3              15              45
 availability of sufficient
 quantities of the orphan drug;
 holder's consent for the
 approval of other marketing
 applications for the same drug.

Guidance Recommendations:                    807             1.5           1,211               4           4,842
 Meeting requests to OOPD and
 related submission packages....
                                 -------------------------------------------------------------------------------
    Total.......................  ..............  ..............           5,613  ..............         174,289
----------------------------------------------------------------------------------------------------------------
\1\ There are no capital costs or operating and maintenance costs associated with this collection of
  information.

    Our burden estimate includes those activities related to: (1)
requesting orphan drug designation; (2) responding to deficiencies
letters with submissions of amendments; (3) keeping files current with
contact information for agents and transfer of ownership, when
applicable; (4) submitting annual reports while products have
designation status; and (5) requesting and preparing for both informal
and formal meetings. Because the PRA defines a recordkeeping
requirement to include reporting those records to the Federal
government, we account for these activities cumulatively in table 1
above. Upon a recent evaluation of the information collection, we
adjusted our burden estimate to reflect an overall increase of 50,616
hours and an increase of 766 records annually. We attribute this
adjustment to an increase in the number of submissions, amendments, and
annual reports.

    Dated: June 7, 2023.
Lauren K. Roth,
Associate Commissioner for Policy.
[FR Doc. 2023-12547 Filed 6-12-23; 8:45 am]
BILLING CODE 4164-01-P


# temperature model
# 5.31.2019

tempmod <- function(dat.merge) {

    require(mgcv)
    require(maps)
    require(mapproj)
    require(akima)

    # drop littoral duplicates
    dat.merge <- subset(dat.merge, sample.type == "MICX")

    dat.merge.sav <- dat.merge
    # select only variables that we need
    dat.merge <- dat.merge[, c("site.id.c",
                                "therm.sav",
                               "domean", "tempmean","tbot",
                               "doint", "do.hyp.fail", "do.hyp.pass",
                               "yday.x", "st.nla2012",
                               "year", "tmax", "index.lat.dd", "tmean.pt",
                               "tmin.pt",
                 "index.lon.dd", "elevation", "area.ha", "index.site.depth")]

    sitemean <- function(x, site, varname) {
        xm <- tapply(x, site, mean, na.rm = T)
        return(xm)
    }
    ## compute mean values of lake characteristics and merge
    varlist <- c( "index.lat.dd", "tmean.pt", "tmin.pt",
                 "index.lon.dd", "elevation", "area.ha", "index.site.depth")
    matout <- matrix(NA, ncol = length(varlist),
                     nrow = length(levels(dat.merge$site.id.c)))
    for (i in 1:length(varlist)) {
        matout[,i] <- sitemean(dat.merge[, varlist[i]],
                               dat.merge$site.id.c)
    }
    dat.mean <- data.frame(levels(dat.merge$site.id.c), matout)
    names(dat.mean) <- c("site.id.c", "Lat", "Temp", "TempMin",
                         "Lon", "Elev", "Area", "Depth")
    dat.mean$LakeRatio <- (dat.mean$Area*10000)^0.25/dat.mean$Depth

    dat.merge<-merge(dat.merge, dat.mean[, c("site.id.c", "Depth", "LakeRatio",
                                             "Temp", "Elev", "Lat", "Lon",
                                             "TempMin")],
                     by = "site.id.c")
    print(nrow(dat.merge))

    incvec <- !is.na(dat.merge$tmax) & ! is.na(dat.merge$yday.x) &
        ! is.na(dat.merge$Lat) & ! is.na(dat.merge$Elev) &
            ! is.na(dat.merge$Temp)

    dat.merge <- dat.merge[incvec,]

    ## two outliers excluded
    incvec <- dat.merge$tmax < 5
    dat.merge <- dat.merge[!incvec,]
    incvec <- dat.merge$tmax >  35
    dat.merge <- dat.merge[!incvec,]

    ## function to calculate RMS error
    rmserr <- function(x,y) sqrt(sum((x-y)^2)/length(x))

    ## model for mean air temperature as function of location and elevation
    ## this model can be used with the parameters b[1] and b[2]
    ## from the model to predict the first day of stratification for
    ## an arbitrary location
    modairtemp <- gam(Temp ~ s(Lat, Lon, k = 30) + Elev, data = dat.merge)
    print(summary(modairtemp))

    ## plot predicted vs. observed
    predout <- predict(modairtemp)
    dev.new()
    par(mar = c(4,4,1,1), mgp = c(2.3,1,0), bty = "l", mfrow = c(1,2),
        bty = "l")
    plot(predout, dat.merge$Temp, xlab = "Predicted mean air temp",
         ylab = "Observed mean air temp", pch = 21, col = "grey39",
         bg = "white")
    abline(0,1)
    cat("Mean air temp RMS err:", rmserr(predout, dat.merge$Temp), "\n")
    save(modairtemp, file = "modairtemp.rda")

    ## model for minimum air temperature
    df1 <- na.omit(dat.mean[, c("Lon", "Lat", "Elev", "TempMin")])
    modmintemp <- gam(TempMin ~ s(Lon, Lat, k = 100) + Elev, data = df1)
    print(summary(modmintemp))
    predout <- predict(modmintemp, type = "response")

    plot(predout, df1$TempMin, xlab ="Predicted min air temp",
         ylab = "Observed min air temp", pch = 21, col = "grey39",
         bg = "white")
    abline(0,1)
    cat("Min air temp RMS err:", rmserr(predout, df1$TempMin), "\n")

    save(modmintemp, file = "modmintemp.rda")

    ## model for lake surface water temperature
    mod.watertemp <- gam(tmax ~ s(yday.x, k =7) +
                             s(Lat, Lon, k = 30) + Elev,
                         data = dat.merge)
    print(summary(mod.watertemp))
    predout <- predict(mod.watertemp)
    dev.new()
    par(mar = c(4,4,1,1), mgp = c(2.3,1,0), bty="l")
    plot(predout, dat.merge$tmax, pch = 21, col = "grey39", bg = "white",
         xlab = "Predicted surface layer temperature",
         ylab = "Observed surface layer temperature")
    abline(0,1)
    cat("Water temperature RMS error:", rmserr(predout, dat.merge$tmax), "\n")

    save(mod.watertemp, file = "mod.watertemp.rda")

    new.data <- dat.merge
    new.data$Elev <- mean(new.data$Elev)
    new.data$yday.x <- mean(new.data$yday.x)
    predout <- predict(mod.watertemp, new.data)

    ## plot map of location effect (Fig 14)
    require(maps)
    require(akima)
    png(width = 5, height = 3, pointsize = 8, units = "in",
        file = "laketempmap.png", res = 600)
    par(mar = c(1,1,1,1))
    map("state", proj = "albers", par = c(30,40), col = "grey")
    pout <- mapproject(dat.merge$Lon, dat.merge$Lat, proj = "")
    contour(interp(pout$x, pout$y, predout, duplicate = "mean"),add = T)
    dev.off()

    ## plot two other predictors (Fig 15)
    png(width = 6, height = 2.5, pointsize = 8, units = "in",
        res = 600, file ="temppreds.png")
    par(mar = c(4,4,1,1), mfrow = c(1,2), mgp = c(2.3,1,0), bty = "l")
    xnew <- seq(min(dat.merge$yday.x), max(dat.merge$yday.x), length = 100)
    new.data <- data.frame(yday.x = xnew)
    new.data$Elev <- mean(dat.merge$Elev)
    new.data$Lat <- mean(dat.merge$Lat)
    new.data$Lon <- mean(dat.merge$Lon)
    predout <- predict(mod.watertemp, new.data, se.fit = T)
    up <- predout$fit + 2*predout$se.fit
    dn <- predout$fit - 2*predout$se.fit
    plot(xnew, predout$fit, ylim = range(c(up, dn)),
         type = "n", xlab = "Day of year", ylab = "Lake temperature")
    polygon(c(xnew, rev(xnew)), c(up, rev(dn)), col = "grey",
            border = NA)
    lines(xnew, predout$fit)

    xnew <- seq(min(dat.merge$Elev), max(dat.merge$Elev), length = 100)
    new.data <- data.frame(Elev = xnew)
    new.data$yday.x <- mean(dat.merge$yday.x)
    new.data$Lat <- mean(dat.merge$Lat)
    new.data$Lon <- mean(dat.merge$Lon)
    predout <- predict(mod.watertemp, new.data, se.fit = T)
    up <- predout$fit + 2*predout$se.fit
    dn <- predout$fit - 2*predout$se.fit
    plot(xnew, predout$fit, ylim = range(c(up, dn)),
         type = "n", xlab = "Elevation (m)", ylab = "Lake temperature")
    polygon(c(xnew, rev(xnew)), c(up, rev(dn)), col = "grey",
            border = NA)
    lines(xnew, predout$fit)
    dev.off()

    cc <- coef(mod.watertemp)
    ## find day of year for maximum temperature
    xnew <- seq(min(dat.merge$yday.x), max(dat.merge$yday.x), by = 1)
    new.data <- data.frame(yday.x =xnew)
    new.data$Lat <- mean(dat.merge$Lat)
    new.data$Lon <- mean(dat.merge$Lon)
    new.data$Elev <- mean(dat.merge$Elev)
    predout <- predict(mod.watertemp, new.data)
    ip <- which(predout == max(predout))
    daymax <- xnew[ip]

    predout.terms <- predict(mod.watertemp, type = "terms")
    dat.merge$loceff <- predout.terms[,3] # contribution of location for each NLA sample

    predout.terms <- predict(mod.watertemp, new.data, type = "terms")

    ## extract yday curve for decreasing temperature time of year
    daycurve <- predout.terms[ip:nrow(predout.terms), 2]

    ## find critical day of the year for each lat and elev
    tcrit <- 24
    y <- tcrit - dat.merge$loceff - cc["Elev"]*dat.merge$Elev -
        cc["(Intercept)"] # adjust critical temperature with location
    # elevation and intercept effects

    ## find day that corresponds with critical temp
    daycrit <- rep(NA, times = nrow(dat.merge))
    for (i in 1:nrow(dat.merge)) {
        daycrit[i] <- approx(daycurve, xnew[ip:nrow(predout.terms)],  y[i])$y
    }
    daycrit <- round(daycrit)

    ## plot temperature release day for critical temperature of 24 (Fig 16)
    ## Adjust temperatures for other critical temperatures
    png(width = 5, height = 3, pointsize = 8, units = "in", res = 600,
        file = "yday24C.png")
    par(mar = c(1,1,1,1))
    map("state", proj = "albers", par = c(30,40), col = "grey")
    pout <- mapproject(dat.merge$Lon, dat.merge$Lat, proj = "")

    require(akima)
    incvec <- !is.na(daycrit)
    points(pout$x[!incvec], pout$y[!incvec], pch = ".")
    points(pout$x[incvec], pout$y[incvec], pch = 21, col = "grey", bg = "white")
    contour(interp(pout$x[incvec], pout$y[incvec], daycrit[incvec],
                   duplicate = "mean"),
            add = T)
    dev.off()

    return()

}

tempmod(dat.merge.all)


[Federal Register: July 31, 2008 (Volume 73, Number 148)]
[Notices]
[Page 44793-44794]
[DOCID:fr31jy08-89]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-58227; File No. SR-FINRA-2008-033]

Self-Regulatory Organizations: Financial Industry Regulatory
Authority, Inc.; Notice of Filing of Proposed Rule Change and Amendment
No. 1 Thereto, To Adopt FINRA Rule 4560 (Short-Interest Reporting) in
the Consolidated FINRA Rulebook

July 25, 2008.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on June 23, 2008, Financial Industry Regulatory Authority, Inc.
(``FINRA'') (f/k/a National Association of Securities Dealers, Inc.
(``NASD'')) filed with the Securities and Exchange Commission (``SEC''
or ``Commission'') the proposed rule change as described in Items I,
II, and III below, which Items have been substantially prepared by
FINRA. On July 16, 2008, FINRA submitted Amendment No. 1 to the
proposed rule change. 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.
---------------------------------------------------------------------------

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

    FINRA is proposing to adopt the short interest reporting
requirements (NASD Rule 3360 and Incorporated NYSE Rules 421(1) and
421.10) as FINRA Rule 4560 in the consolidated FINRA rulebook.
    The text of the proposed rule change is attached as Exhibit 5 to
this rule filing.

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

    In its filing with the Commission, FINRA included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements is available at FINRA, the Commission's Public
Reference Room, and http://www.finra.org/RulesRegulation/RuleFilings/
2008RuleFilings/P038813. FINRA has prepared summaries, set forth in
sections A, B, and C below, of the most significant aspects of such
statements.

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

1. Purpose
    As part of the process of developing the new consolidated rulebook
(``Consolidated FINRA Rulebook''),\3\ FINRA is proposing to adopt the
short interest reporting requirements in NASD Rule 3360 and
Incorporated NYSE Rules 421(1) and 421.10 as FINRA Rule 4560 in the
Consolidated FINRA Rulebook.
---------------------------------------------------------------------------

    \3\ The current FINRA rulebook consists of two sets of rules:
(1) NASD Rules and (2) rules incorporated from NYSE (``Incorporated
NYSE Rules'') (together referred to as the ``Transitional
Rulebook''). The Incorporated NYSE Rules apply only to those members
of FINRA that are also members of the NYSE (``Dual Members''). Dual
Members also must comply with NASD Rules. For more information about
the rulebook consolidation process, see FINRA Information Notice,
March 12, 2008 (Rulebook Consolidation Process).
---------------------------------------------------------------------------

    NASD Rule 3360 and Incorporated NYSE Rules 421(1) and 421.10 set
forth FINRA's short interest reporting requirements.\4\ NASD Rule 3360
requires members to report short positions \5\ in OTC Equity Securities
\6\ and exchange-listed securities not otherwise reported to another
self-regulatory organization (``SRO''),\7\ and Incorporated NYSE Rules
421(1) and 421.10 require members to report short positions in NYSE-
listed securities. Members must report total short positions in all
customer and proprietary accounts as of the designated settlement dates
and in the manner so prescribed.\8\ Currently, the rules require such
information to be reported twice a month, which in turn, is then made
publicly available on an aggregate basis twice a month.\9\
---------------------------------------------------------------------------

    \4\ Incorporated NYSE Rules 421(2) and 421.40 require members
carrying margin accounts for customers to report certain aggregate
debit and free credit balances. Those provisions will be addressed
in a separate filing and therefore are not being addressed here.
    \5\ Short positions required to be reported under the rules are
those resulting from ``short sales'' as the term is defined in Rule
200(a) of Regulation SHO, subject to certain limited exceptions. See
NASD Rule 3360(b)(1).
    \6\ The term ``OTC Equity Securities'' refers to any equity
security that is not listed on a national securities exchange. See
NASD Rule 3360(b)(3).
    \7\ It is the responsibility of each member firm to ensure that
it is reporting accurate short interest data, including confirming
that issue symbols are active and valid as of the designated
settlement date. See Notice to Members 06-20 (April 2006).
    \8\ Non-self-clearing broker-dealers generally are considered to
have satisfied their reporting requirement by making appropriate
arrangements with their respective clearing organizations. See
Notice to Members 03-08 (February 2003).
    \9\ A schedule of FINRA's designated settlement dates can be
found on its Web site at http://www.finra.org. See also Notice to
Members 07-24 (May 2007).

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

    Currently, firms report short interest positions in NYSE-listed
securities through the NYSE's Electronic Filing Platform (``EFP'') and
all other securities through FINRA's Regulation Filing Applications
(``RFA'') system or the Securities Industry Automation Corporation
(``SIAC''). As of June 30, 2008, FINRA will consolidate the collection
of short interest data, and firms will be required to report short
interest positions in all securities to FINRA using the RFA system;
consequently, firms will no longer be able to report any of their short
interest positions using EFP or SIAC.\10\
---------------------------------------------------------------------------

    \10\ See Regulatory Notice 08-13 (March 2008).
---------------------------------------------------------------------------

    Given that the short interest requirements in each of the rules are
substantially similar, FINRA is proposing to adopt these requirements
as part of the Consolidated FINRA Rulebook, subject only to certain
non-substantive changes. Most notably, because FINRA will now be the
primary collector of consolidated short interest data for its members
in all securities (rather than only if such positions in exchange-
listed securities are not reported to another SRO), FINRA is not
retaining the text in NASD Rule 3360 that limits short interest
reportable to FINRA to those positions in exchange-listed securities
``not otherwise reported to another self-regulatory organization.''
    As noted above, FINRA will announce the implementation date of the
proposed rule change in a Regulatory Notice to be published no later
than 60 days following Commission approval.
2. Statutory Basis
    FINRA believes that the proposed rule change is consistent with the
provisions of Section 15A(b)(6) of the Act,\11\ which requires, among
other things, that FINRA rules must be designed to prevent fraudulent
and manipulative acts and practices, to promote just and equitable
principles of trade, and, in general, to protect investors and the
public interest. The short interest reporting requirements, which are
proposed to be transferred to the Consolidated FINRA Rulebook,
previously have been found to meet the statutory requirements, and
FINRA believes such requirements have since proven effective in
achieving the statutory mandates.
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78o-3(b)(6).
---------------------------------------------------------------------------

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

    FINRA does not believe that the proposed rule change will result in
any burden on competition that is not necessary or appropriate in
furtherance of the purposes of the Act.

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

    Written comments were neither solicited nor received.

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

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

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://
www.sec.gov/rules/sro.shtml); or
     Send an e-mail to<EMAIL_ADDRESS>Please include
File Number SR-FINRA-2008-033 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-FINRA-2008-033. This
file number should be included on the subject line if e-mail is used.
To help the Commission process and review your comments more
efficiently, please use only one method. The Commission will post all
comments on the Commission's Internet Web site (http://www.sec.gov/
rules/sro.shtml). Copies of the submission, all subsequent amendments,
all written statements with respect to the proposed rule change that
are filed with the Commission, and all written communications relating
to the proposed rule change between the Commission and any person,
other than those that may be withheld from the public in accordance
with the provisions of 5 U.S.C. 552, will be available for inspection
and copying in the Commission's Public Reference Room, 100 F Street,
NE., Washington, DC 20549, on official business days between the hours
of 10 a.m. and 3 p.m. Copies of such filing also will be available for
inspection and copying at the principal office of FINRA.
    All comments received will be posted without change; the Commission
does not edit personal identifying information from submissions. You
should submit only information that you wish to make available
publicly. All submissions should refer to File Number SR-FINRA-2008-033
and should be submitted on or before August 21, 2008.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
---------------------------------------------------------------------------

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

Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-17563 Filed 7-30-08; 8:45 am]

BILLING CODE 8010-01-P