[Federal Register Volume 80, Number 238 (Friday, December 11, 2015)]
[Notices]
[Pages 77058-77061]
[FR Doc No: 2015-31278]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-76579; File No. SR-NYSEMKT-2015-100]

Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and
Immediate Effectiveness of Proposed Rule Change Amending Exchange Rules
To Establish the Securities Trader and Securities Trader Principal
Registration Categories

December 8, 2015.
    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 November 24, 2015, NYSE MKT LLC (the ``Exchange'' or
``NYSE MKT'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the self-regulatory
organization. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to amend Exchange Rules to (1) prescribe the
Securities Traders examination (Series 57) (the ``Series 57
Examination'') as the qualifying examination for registered Market
Makers, Market Maker Authorized Traders (``MMATs''), and Floor Brokers,
(2) eliminate reference to the S501 Program as a continuing education
requirement, and (3) rename the category ``Proprietary Trader'' as
``Securities Trader'' in Exchange rules without making any substantive
change to the definition of such term. The proposed rule change is
available on the Exchange's Web site 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
    The Exchange proposes to amend Exchange Rules 921NY, 921.1NY and
931NY to prescribe the Series 57 Examination as the qualifying
examination for registered Market Makers, MMATs, and Floor Brokers.
    Exchange Rule 921NY currently specifies that an applicant must pass
an examination prescribed by the Exchange in order to register as a
Market Maker. Exchange Rule 921.1NY currently specifies that an
applicant must pass an examination prescribed by the Exchange in order
to register as a MMAT. And Exchange Rule 931NY currently specifies that
an applicant must pass an examination prescribed by the Exchange in
order to register as a Floor Broker. For purposes of these rules, NYSE
Amex Options has currently prescribed the successful completion of the
Proprietary Trader Qualification Examination (``Series 56
Examination'') as the qualifying exam for Market Makers, MMATs and
Floor Brokers. In addition, individuals currently engaged solely in
proprietary trading, who are not registered as Market Makers, MMATs or
Floor Brokers, may qualify for registration by successful completion of
the Series 56 Examination or the General Securities Representative
Qualification Examination (``Series 7 Examination'').
    The Exchange proposes to change the prescribed examination for
Market Makers, MMATs and Floor Brokers from the Series 56 Examination
to the Series 57 Examination. With this proposed rule change, Market
Makers, MMATs, Floor Brokers and individuals engaged solely in
proprietary trading will qualify for registration by passing the Series
57 Examination.\4\
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    \4\ Currently, individuals engaged solely in proprietary trading
can alternatively take the Series 7 Examination as a qualifying
exam. After implementation of the Series 57 Examination, an
individual engaged solely in proprietary trading will be required to
take the Series 57 Examination as the Series 7 Examination would no
longer serve as a qualifying exam to engage solely in proprietary
trading.
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    The Series 57 Examination is being developed by the Financial
Industry Regulatory Authority, Inc. (``FINRA'') in consultation with
industry and exchange representatives. The Series 57 examination will
be based on the current job functions of securities traders and will
include elements of the Series 55 Equity Trader Qualification
Examination (which is required to engage in over-the-counter securities
trading) and the current Series 56 Registered Proprietary Traders
Examination (which is required for associated persons engaged in
securities trading).\5\ The Series 57 Examination will be based on
industry rules applicable to trading of equity securities and listed
options contracts. The Series 57 examination will cover, among other
things, recordkeeping and recording requirements; types and
characteristics of securities and investments; trading practices; and
display, execution, and trading systems.\6\ As such, the Exchange
believes that an applicant who has passed the Series 57 Examination is
shown to be qualified to act in the capacity of a Market Maker, Floor
Broker, MMAT or engage solely in proprietary trading on NYSE Amex
Options.
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    \5\ While the Series 56 Examination is required for associated
persons engaged in proprietary trading, Exchange rules do not
require such individuals to work at a proprietary trading firm only.
These individuals can work at any type of firm. However, they may
only engage in proprietary trading at the firm where they are
employed. For example, an individual engaged in proprietary trading
at a full service firm, who is registered solely to engage in
proprietary trading, may not act as a registered representative for
that firm.
    \6\ See Securities Exchange Act Release No. 75783 (August 28,
2015), 80 FR 53369 (September 3, 2015) (SR-FINRA-2015-017) (Order
Approving a Proposed Rule Change to Establish the Securities Trader
and Securities Trader Principal Registration Categories).
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    While NYSE Amex Options will no longer be offering the Series 56
Examination as a qualifying exam to new applicants, the Exchange will
continue to recognize individuals who have passed that exam as having
successfully completed a qualifying exam. Individuals who have taken
the Series 56 Examination and have registered in Web CRD \7\ as
proprietary traders will have their registration converted in Web CRD
on January 4, 2016 to a securities trader. Additionally, individuals
currently engaged solely in proprietary trading, who currently qualify
for registration by passing the Series 7 Examination and have
registered in Web CRD as Proprietary Traders will have their
registration converted in Web CRD on January 4, 2016 to a Securities
Trader without having to take any additional examinations and without
having to take any other actions. Individuals presently registered as
Market Makers, MMATs, Floor Brokers or those that engage solely in
proprietary trading on NYSE Amex Options, who have previously passed a
qualifying exam will not be required to take the Series 57 Examination
as a condition of their continued registration. However, the
registration of individuals who have taken the Series 56 Examination
will not be converted to a Securities Trader if they have not
registered as a Proprietary Trader in Web CRD by December 28, 2015.
After that date, these individuals will be required to take the Series
57 Examination in order to register as securities traders. In addition,
individuals registered as proprietary traders in Web CRD prior to the
effective date of the proposed rule change will be eligible to register
as securities traders without having to take any additional
examinations, provided that no more than two years have passed between
the date the individual last registered as a proprietary trader and the
date the individual registers as a securities trader.\8\
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    \7\ Web CRD is the central licensing and registration system for
the U.S. securities industry and its regulators.
    \8\ See Rule 341A, Commentary .03.
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    The Exchange also proposes to amend Exchange Rules 341 and 341A.
Under the proposed rule change, the Exchange would rename the category
``Proprietary Trader'' as ``Securities Trader'' in Rule 341 without
making any substantive change to the definition of such term. A
Securities Trader, similar to what is currently required for a
Proprietary Trader, would be required to register as such on Web CRD
and pass the Series 57 Examination described above, but would not be
permitted to function in an agency capacity or otherwise conduct a
public business in securities. Additionally, Rule 341 requires that an
individual associated with an Exchange member with supervisory
responsibility over proprietary trading activities qualify and register
as a Proprietary Trader Principal. Under the proposed rule change, the
Exchange would replace references in Rule 341 to Proprietary Trader
Principal with Securities Trader Principal.

    Further, registered persons are required under Rule 341A to comply
with the Exchange's continuing education requirements. Specifically,
under Rule 341A(a)(1), individuals engaged solely in proprietary
trading are required to complete the S501 Program to fulfill the
Regulatory Element of their continuing education requirement. With the
transition to the Series 57 Examination, the S501 Program will no
longer be required; such individuals will instead be required to
complete the S101 Program to fulfill the Regulatory Element of their
continuing education requirement.
    The Exchange notes that in order to qualify as a Proprietary Trader
Principal, an associated person currently must pass the Series 56
Examination or the Series 7 Examination, and the Series 24 Examination.
Once the Exchange has adopted the Series 57 Examination as the
qualifying exam for a Securities Trader, associated persons would need
to pass the Series 57 Examination and the Series 24 Examination in
order to register as a Securities Trader Principal. Only those
individuals who are registered as such would be qualified to supervise
a Securities Trader. Individuals registered as a General Securities
Principal would not be qualified to supervise a Securities Trader, nor
would a Securities Trader Principal be able to act as a General
Securities Principal, unless the individual is registered as a
Securities Trader Principal and a General Securities Principal.
    Within 30 days of filing the proposed rule change, the Exchange
will issue a Regulatory Bulletin announcing the operative date of the
rule change, which will not be sooner than January 4, 2016.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b) of the Securities Exchange Act of 1934 (``Act''),\9\ in general,
and furthers the objectives of Section 6(c)(3)(B) \10\ of the Act,
pursuant to which a national securities exchange prescribes standards
of training, experience and competence for members and their associated
persons, and Section 6(b)(5) \11\ of the Act, in particular, in that it
is designed, among other things, to promote just and equitable
principles of trade, to remove impediments to, and perfect the
mechanism of a free and open market and a national market system, and,
in general, to protect investors and the public interest. The Exchange
believes that prescribing the Series 57 Examination for Market Makers,
MMATs, Floor Brokers and for individuals engaged solely in proprietary
trading is appropriate because the Series 57 Examination addresses
industry topics that establish the foundation for the regulatory and
procedural knowledge necessary for such individuals to appropriately
register under Exchange rules. In addition, the Series 57 Examination
is expected to be shared by other exchanges and become the industry
standard.\12\ Accordingly, adopting the Series 57 Examination will help
to promote consistency in examination requirements and uniformity
across markets.
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    \9\ 15 U.S.C. 78f(b).
    \10\ 15 U.S.C. 78f(c)(3)(B).
    \11\ 15 U.S.C. 78f(b)(5).
    \12\ See supra, note 6.
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will
impose any burden on competition not necessary or appropriate in
furtherance of the purposes of the Act. The proposed rule change does
not impose any additional examination burdens on persons who are
already registered. There is no obligation to take the Series 57
examination in order to continue in their present duties, so the
proposed rule change is not expected to disadvantage current registered
persons relative to new entrants in this regard.

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 \13\ and Rule 19b-4(f)(6) thereunder.\14\
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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    \13\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \14\ 17 CFR 240.19b-4(f)(6).
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    A proposed rule change filed under Rule 19b-4(f)(6) \15\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b-4(f)(6)(iii),\16\ the Commission
may designate a shorter time if such action is consistent with the
protection of investors and the public interest.
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    \15\ 17 CFR 240.19b-4(f)(6).
    \16\ 17 CFR 240.19b-4(f)(6)(iii).
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    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) \17\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
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    \17\ 15 U.S.C. 78s(b)(2)(B).
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IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-NYSEMKT-2015-100 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NYSEMKT-2015-100. 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 Section, 100 F Street NE., Washington, DC 20549-1090. Copies
of the filing will also be available for inspection and copying at the
NYSE's principal office and on its Internet Web site at www.nyse.com.
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-NYSEMKT-2015-
100 and should be submitted on or before January 4, 2016.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\18\
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    \18\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-31278 Filed 12-10-15; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 88, Number 76 (Thursday, April 20, 2023)]
[Notices]
[Pages 24455-24456]
[FR Doc No: 2023-08307]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-97306; File No. SR-CBOE-2022-051]

Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of
Designation of Longer Period for Commission Action on a Proposed Rule
Change To Amend Rules Relating to the Processing of Auction Responses

April 14, 2023.
    On October 3, 2022, Cboe Exchange, Inc. filed with the Securities
and Exchange Commission (the

``Commission''), pursuant to Section 19(b)(1) of the Securities
Exchange Act of 1934 (the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ a
proposed rule change to amend its rules relating to the processing of
auction responses. The proposed rule change was published for comment
in the Federal Register on October 20, 2022.\3\ On November 23, 2022,
pursuant to Section 19(b)(2) of the Act,\4\ the Commission designated a
longer period within which to approve the proposed rule change,
disapprove the proposed rule change, or institute proceedings to
determine whether to disapprove the proposed rule change.\5\ On January
18, 2023, the Commission instituted proceedings under Section
19(b)(2)(B) of the Act \6\ to determine whether to approve or
disapprove the proposed rule change.\7\ On April 10, 2023, the Exchange
submitted Amendment No. 1 to the proposed rule change, which replaced
and superseded the proposed rule change in its entirety.\8\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 96081 (October 14,
2022), 87 FR 63830.
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 96380, 87 FR 73366
(November 29, 2022). The Commission designated January 18, 2023 as
the date by which the Commission shall approve or disapprove, or
institute proceedings to determine whether to disapprove, the
proposed rule change.
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 96684, 88 FR 4243
(January 24, 2023).
    \8\ The full text of Amendment No. 1 is available on the
Commission's website at: https://www.sec.gov/comments/sr-cboe-2022-051/srcboe2022051-20163989-333985.pdf.
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    Section 19(b)(2) of the Act \9\ provides that, after initiating
disapproval proceedings, the Commission shall issue an order approving
or disapproving the proposed rule change not later than 180 days after
the date of publication of notice of filing of the proposed rule
change. The Commission may extend the period for issuing an order
approving or disapproving the proposed rule change, however, by not
more than 60 days if the Commission determines that a longer period is
appropriate and publishes the reasons for such determination. The date
of the publication of notice of the proposed rule change October 20,
2022. The 180th day after the publication of the notice of the proposed
rule change is April 18, 2023, and June 17, 2023 is 240 days from that
date.
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    \9\ 15 U.S.C. 78s(b)(2).
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    The Commission finds that it is appropriate to designate a longer
period within which to conclude proceedings on the proposed rule change
so that it has sufficient time to consider the proposed this proposed
rule change and the proposed amendment. Accordingly, the Commission,
pursuant to Section 19(b)(2) of the Act,\10\ designates June 17, 2023,
as the date by which the Commission shall either approve or disapprove
the proposed rule change, as modified by Amendment No. 1 (File No. SR-
CBOE-2022-051).
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    \10\ Id.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
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    \11\ 17 CFR 200.30-3(a)(57).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-08307 Filed 4-19-23; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: April 11, 2008 (Volume 73, Number 71)]
[Notices]
[Page 19923-19926]
[DOCID:fr11ap08-122]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-57626; File No. SR-NYSEArca-2008-28]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Order Granting Accelerated Approval of Proposed Rule Change to
Trade Pursuant to Unlisted Trading Privileges Shares of the Bear
Stearns Current Yield Fund

April 4, 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 March 13, 2008, NYSE Arca, Inc. (``NYSE Arca'' or the ``Exchange''),
through its wholly owned subsidiary NYSE Arca Equities, Inc., filed
with the Securities and Exchange Commission (``Commission'') the
proposed rule change as described in Items I and II below, which Items
have been substantially prepared by the Exchange. This order provides
notice of the proposed rule change, and approves the proposal on an
accelerated basis.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to trade pursuant to unlisted trading
privileges (``UTP'') shares of the Bear Stearns Current Yield Fund, an
investment portfolio of the Bear Stearns Active ETF Trust. The text of
the proposed rule change is available at the Exchange's principal
office, the Commission's Public Reference Room, and http://
www.nyse.com.

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

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

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

1. Purpose
    The Exchange proposes to trade pursuant to UTP shares (``Shares'')
of the Bear Stearns Active ETF Trust (the ``Trust'') under NYSE Arca
Equities Rule 8.600.\3\ The Trust consists of one investment portfolio,
the Bear Stearns Current Yield Fund (``Fund''), and is an actively
managed open-end investment company.
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    \3\ Recently, the Commission approved NYSE Arca Equities Rule
8.600, which permits the listing and trading, or trading pursuant to
UTP, of Managed Fund Shares. See Securities Exchange Act Release No.
57619 (April 4, 2008) (SR-NYSEArca-2008-25). Managed Fund Shares
will be structured very similarly to Investment Company Units and
Portfolio Depositary Receipts based on a stock index and listed or
traded pursuant to UTP under NYSE Arca Equities Rules 5.2(j)(3) and
8.100, respectively. However, Managed Fund Shares will be managed
like traditional actively-managed open-end investment companies and
will have specified investment goals and objectives. Unlike
exchange-traded funds based on a stock index, those goals and
objectives will not involve seeking to replicate, or provide
investment results that correspond generally to, the price and yield
or total return performance of a specified index.
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    Recently, the American Stock Exchange, LLC (``Amex'') adopted rules
relating to listing and trading of securities issued by actively
managed open-end investment companies (Managed Fund Shares), and to
list Shares of the Trust pursuant to those new rules (``Amex
Proposal'').\4\
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    \4\ See Securities Exchange Act Release No. 57297 (February 8,
2008), 73 FR 8723 (February 14, 2008) (SR-Amex-2008-02) (notice of
the proposed rule change); Securities Exchange Act Release No. 57514
(March 17, 2008), 73 FR 15230 (March 21, 2008) (SR-Amex-2008-02)
(order approving the proposed rule change).
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a. Description of the Fund and the Trust
    The Trust is organized as a Delaware statutory trust and is an
open-end registered investment company under the Investment Company Act
of 1940 (``1940 Act'').\5\ The Fund, an exchange-traded fund, is the
sole investment portfolio of the Trust.
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    \5\ 15 U.S.C. 80a.
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    The investment objective of the Fund is to seek as high a level of
current income as is consistent with the preservation of capital and
liquidity. The Fund will be actively managed by its portfolio manager,
who will have discretion to choose securities for the Fund's portfolio
consistent with the Fund's investment objective. The Fund's portfolio
manager seeks to attain the Fund's objective by investing primarily in
short-term debt obligations, including U.S. government securities, bank
obligations, corporate debt obligations, mortgage-backed and asset-
backed securities, municipal obligations, foreign bank obligations
(U.S. dollar denominated), foreign corporate debt obligations (U.S.
dollar denominated), repurchase agreements, and reverse repurchase
agreements. The Fund is not a ``money market'' fund, nor is it subject
to certain rules and regulations under the 1940 Act governing money
market funds.
    The Registration Statement for the Trust, including the prospectus
and Statement of Additional Information (``SAI''), will provide a
detailed description of the Fund including, but not limited to,
structure, creation/redemption process, investment objectives and
policies, characteristics, tax status, and distributions.\6\ Investors
are directed to the Fund's prospectus and SAI for a complete
explanation of the Fund.
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    \6\ See Securities Act Registration No. 333-141421 and
Investment Company Act Registration No. 811-22038.

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b. Availability of Information Regarding the Fund and the Shares
    The daily NAV for the Fund will be calculated each business day and
disseminated publicly to all market participants at the same time.
    Prior to the opening each business day, the Fund will make publicly
available on its Web site a file of all the portfolio securities held
by the Fund and the quantities thereof, as of the close of business on
the prior business day, reflecting all securities bought and sold on
such prior business day. This information will be available to
investors and market participants accessing the Fund's Web site and
will form the basis for the Fund's calculation of NAV as of the close
of regular trading on the Exchange (ordinarily 4 p.m.).
    Amex will disseminate, at least every 15 seconds, during regular
Amex trading hours, through the facilities of the Consolidated Tape
Association, an estimated value for the Fund on a per-Share basis (for
purposes of proposed NYSE Arca Equities Rule 8.600, the ``Portfolio
Indicative Value''). An independent pricing service will calculate a
Portfolio Indicative Value for the Fund in the manner discussed below.
The Portfolio Indicative Value is designed to provide investors with a
reference value which can be used in connection with other related
market information. Amex will not guarantee the accuracy or
completeness of the Portfolio Indicative Value. None of the Trust, the
Board of Trustees of the Fund, or the Advisor is responsible for the
calculation or dissemination of the Portfolio Indicative Value, and
they make no warranty as to its accuracy or its usefulness to traders
of Shares. The pricing service will calculate the Portfolio Indicative
Value during hours of trading on the Exchange by dividing the
``Estimated Fund Value'' as of the time of the calculation by the total
Shares outstanding. ``Estimated Fund Value'' is the sum of the
estimated amount of cash held in the Fund's portfolio, the estimated
value of the securities held in the Fund's portfolio, and the estimated
amount of accrued interest, minus the estimated amount of liabilities.
    The Fund's Web site will display the Prospectus, the SAI, and
additional quantitative information that is updated on a daily basis,
including, among other things, the following information, on a per-
Share basis: (1) The prior business day's NAV; (2) and the reported
mid-point of the bid-ask spread at the time of NAV calculation (``Bid-
Ask Price''); (3) a calculation of the premium or discount of the Bid-
Ask Price against such NAV; and (4) data in chart format displaying the
frequency distribution of discounts and premiums of the Bid-Ask Price
against the NAV, within appropriate ranges, for each of the four
previous calendar quarters. Amex also intends to disseminate a variety
of data with respect to Shares on a daily basis, by means of CTA and CQ
High Speed Lines, including quotation and last-sale data information
and the number of Shares outstanding.
    As previously noted, prior to the opening of each business day, the
Fund will make publicly available on its Web site the portfolio
securities held by the Fund as of the close of business on the prior
business day. All investors and market participants will have access to
the Fund's Web site. This Web site disclosure of portfolio holdings
will be made daily and will include, as applicable, the specific types
and amounts of short-term debt securities and the amount of cash held
in the portfolio of the Fund.
    As with other exchange-traded funds, information regarding
secondary market prices and volume of the Shares will be broadly
available in real time throughout the trading day.
c. Trading Halts
    The Exchange represents that it will cease trading the Shares of
the Fund if the listing market stops trading the Shares because of a
regulatory halt similar to a halt based on NYSE Arca Equities Rule
7.12. UTP trading in the Shares will also be governed by the trading
halt provisions of NYSE Arca Equities Rule 7.34, relating to temporary
interruptions in the calculation or wide dissemination of the Portfolio
Indicative Value or the value of the underlying index.
    With respect to trading halts, the Exchange may consider all
relevant factors in exercising its discretion to halt or suspend
trading in the Shares of a Fund.\7\ Trading in Shares of the Fund will
be halted if the circuit breaker parameters in NYSE Arca Equities Rule
7.12 have been reached. Trading also may be halted because of market
conditions or for reasons that, in the view of the Exchange, make
trading in the Shares inadvisable. These may include: (1) the extent to
which trading is not occurring in the securities comprising the
Disclosed Portfolio and/or the Financial Instruments of a Fund; or (2)
whether other unusual conditions or circumstances detrimental to the
maintenance of a fair and orderly market are present.
---------------------------------------------------------------------------

    \7\ See NYSE Arca Equities Rule 7.12, Commentary .04.
---------------------------------------------------------------------------

d. Surveillance
    The Exchange intends to utilize its existing surveillance
procedures applicable to derivative products (which will include
Managed Fund Shares) to monitor trading in the Shares. The Exchange
represents that these procedures are adequate to properly monitor
Exchange trading of the Shares in all trading sessions and to deter and
detect violations of Exchange rules and applicable federal securities
laws.\8\
---------------------------------------------------------------------------

    \8\ See e-mail dated April 4, 2008 from Michael Cavalier,
Associate General Counsel, NYSE Group, Inc., to Christopher Chow,
Special Counsel, Commission.
---------------------------------------------------------------------------

    The Exchange's current trading surveillance focuses on detecting
securities trading outside their normal patterns. When such situations
are detected, surveillance analysis follows and investigations are
opened, where appropriate, to review the behavior of all relevant
parties for all relevant trading violations.
    The Exchange may obtain information via the Intermarket
Surveillance Group (``ISG'') from other exchanges who are members or
affiliate members of the ISG.\9\
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    \9\ A list of the current members and affiliate members of ISG
may be found at http://www.isgportal.com. The Exchange notes that
not all of the Fund's portfolio holdings may trade on exchanges that
are members or affiliate members of the ISG.
---------------------------------------------------------------------------

    In addition, the Exchange also has a general policy prohibiting the
distribution of material, non-public information by its employees.
e. Information Bulletin
    Prior to the commencement of trading, the Exchange will inform its
ETP Holders in an Information Bulletin of applicable suitability
requirements and the special characteristics and risks associated with
trading the Shares, including risks inherent with trading the Shares
during the Opening and Late Trading Sessions when the updated Portfolio
Indicative Value is not calculated and disseminated. Specifically, the
Bulletin will discuss the following: (1) The procedures for purchases
and redemptions of Shares in Creation Unit size (and that Shares are
not individually redeemable); (2) NYSE Arca Equities Rule 9.2(a), which
imposes a duty of due diligence on its ETP Holders to learn the
essential facts relating to every customer prior to trading the
Shares;\10\ (3) how

information regarding the Portfolio Indicative Value is disseminated;
(4) the requirement that ETP Holders deliver a prospectus to investors
purchasing newly issued Shares prior to or concurrently with the
confirmation of a transaction; and (5) trading information.
---------------------------------------------------------------------------

    \10\ NYSE Arca Equities Rule 9.2(a) provides that ETP Holders,
before recommending a transaction, must have reasonable grounds to
believe that the recommendation is suitable for the customer based
on any facts disclosed by the customer as to his other security
holdings and as to his financial situation and needs. Further, the
rule provides, with a limited exception, that prior to the execution
of a transaction recommended to a non-institutional customer, the
ETP Holder shall make reasonable efforts to obtain information
concerning the customer's financial status, tax status, investment
objectives, and any other information that the ETP Holder believes
would be useful to make a recommendation. See Securities Exchange
Act Release No. 34-54026 (June 21, 2006), 71 FR 36850 (June 28,
2006) (SR-PCX-2005-115).
---------------------------------------------------------------------------

    In addition, the Bulletin will reference that the Fund is subject
to various fees and expenses described in the Trust's Registration
Statement. The Bulletin will discuss any exemptive, no-action, or
interpretive relief granted by the Commission from any rules under the
Act. The Bulletin will also disclose that the NAV for the Shares will
be calculated after 4 p.m. Eastern Time each trading day.
2. Statutory Basis
    The proposed rule change is consistent with Section 6(b) of the
Act,\11\ in general, and furthers the objectives of Section 6(b)(5)
\12\ in particular, in that it is designed to prevent fraudulent and
manipulative acts and practices, to promote just and equitable
principles of trade, to foster cooperation and coordination with
persons engaged in facilitating transactions in securities, and to
remove impediments to and perfect the mechanisms of a free and open
market and a national market system. The Exchange believes that the
proposed rule change will enhance competition among market participants
to the benefit of investors and the marketplace.
---------------------------------------------------------------------------

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

    In addition, the proposed rule change is consistent with Rule 12f-5
under the Act \13\ because the Exchange deems the Shares to be equity
securities, thus rendering the Shares subject to the Exchange's rules
governing the trading of equity securities.
---------------------------------------------------------------------------

    \13\ 17 CFR 240.12f-5.
---------------------------------------------------------------------------

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

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

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

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

III. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://
www.sec.gov/rules/sro.shtml); or
     Send an e-mail to<EMAIL_ADDRESS>Please include
File Number SR-NYSEArca-2008-28 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NYSEArca-2008-28. 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 the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-NYSEArca-2008-28 and should
be submitted on or before May 2, 2008.

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

    After careful review, the Commission finds that the proposed rule
change is consistent with the requirements of the Act and the rules and
regulations thereunder applicable to a national securities
exchange.\14\ In particular, the Commission finds that the proposal is
consistent with Section 6(b)(5) of the Act \15\ 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. The Commission believes that
this proposal should benefit investors by increasing competition among
markets that trade the Shares.
---------------------------------------------------------------------------

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

    In addition, the Commission finds that the proposal is consistent
with Section 12(f) of the Act,\16\ which permits an exchange to trade,
pursuant to UTP, a security that is listed and registered on another
exchange.\17\ The Commission notes that it approved the original
listing and trading of the Shares on Amex.\18\ The Commission also
finds that the proposal is consistent with Rule 12f-5 under the
Act,\19\ which provides that an exchange shall not extend UTP to a
security unless the exchange has in effect a rule or rules providing
for transactions in the class or type of security to which the exchange
extends UTP. The Exchange has represented that it meets this
requirement because it deems the Shares to be equity securities, thus
rendering trading in the Shares subject to the Exchange's existing
rules

governing the trading of equity securities.
---------------------------------------------------------------------------

    \16\ 15 U.S.C. 78l(f).
    \17\ Section 12(a) of the Act, 15 U.S.C. 78l(a), generally
prohibits a broker-dealer from trading a security on a national
securities exchange unless the security is registered on that
exchange pursuant to Section 12 of the Act. Section 12(f) of the Act
excludes from this restriction trading in any security to which an
exchange ``extends UTP.'' When an exchange extends UTP to a
security, it allows its members to trade the security as if it were
listed and registered on the exchange even though it is not so
listed and registered.
    \18\ See supra note 4.
    \19\ 17 CFR 240.12f-5.
---------------------------------------------------------------------------

    The Commission further believes that the proposal is consistent
with Section 11A(a)(1)(C)(iii) of the Act,\20\ which sets forth
Congress' finding that it is in the public interest and appropriate for
the protection of investors and the maintenance of fair and orderly
markets to assure the availability to brokers, dealers, and investors
of information with respect to quotations for and transactions in
securities. Quotations and last-sale information regarding the Shares
will be disseminated through the facilities of the CTA and Consolidated
Quote High Speed Lines. Amex will disseminate through the facilities of
the CTA an updated Portfolio Indicative Value on a per-Share basis at
least every 15 seconds during regular Amex trading hours. The following
information regarding the Trust will be disseminated on a daily basis:
the portfolio securities held by the Trust; the NAV, which will be
disseminated to all market participants at the same time; and the
number of Shares outstanding.
---------------------------------------------------------------------------

    \20\ 5 U.S.C. 78k-1(a)(1)(C)(iii).
---------------------------------------------------------------------------

    The Commission also believes that the proposal is reasonably
designed to prevent trading in the Shares when transparency is
impaired. The Exchange represents that it will halt trading in the
Shares if the listing market institutes a regulatory halt in trading of
the Shares. The Exchange also has represented that it would follow the
procedures with respect to trading halts set forth in NYSE Arca
Equities Rule 7.34, which provides, inter alia, for trading halts in
certain circumstances when the Portfolio Indicative Value is not being
disseminated as anticipated.
    The Commission notes that, if the Shares should be delisted by the
listing exchange, NYSE Arca would no longer have authority to trade the
Shares pursuant to this order.
    In support of this proposal, the Exchange has made the following
representations:
    1. The Exchange's surveillance procedures are adequate to properly
monitor trading of the Shares in all trading sessions and to deter and
detect violations of Exchange rules and applicable federal securities
laws.
    2. Prior to the commencement of trading, the Exchange would inform
its ETP Holders in an Information Bulletin of the special
characteristics and risks associated with trading the Shares, including
risks inherent with trading the Shares during the Opening and Late
Trading Sessions when the updated Portfolio Indicative Value is not
calculated and disseminated, and of suitability recommendation
requirements.
    3. The Information Bulletin also would discuss the requirement that
ETP Holders deliver a prospectus to investors purchasing newly issued
Shares prior to or concurrently with the confirmation of a transaction.

This approval order is based on these representations.
    The Commission finds good cause for approving the proposed rule
change prior to the 30th day after the date of publication of the
notice of filing thereof in the Federal Register.
    Previously, the Commission found that the listing and trading of
the Shares on Amex is consistent with the Act. The Commission presently
is not aware of any regulatory issue that should cause it to revisit
that finding or would preclude the trading of the Shares on the
Exchange pursuant to UTP. Therefore, accelerating approval of this
proposal should benefit investors by creating, without undue delay,
additional competition in the market for the Shares.
    It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\21\ that the proposed rule change (SR-NYSEArca-2008-28) is hereby
approved on an accelerated basis.
---------------------------------------------------------------------------

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

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\22\
Florence E. Harmon,
Deputy Secretary.
---------------------------------------------------------------------------

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

 [FR Doc. E8-7698 Filed 4-10-08; 8:45 am]

BILLING CODE 8011-01-P


[Federal Register Volume 82, Number 246 (Tuesday, December 26, 2017)]
[Rules and Regulations]
[Pages 60862-60864]
[FR Doc No: 2017-27679]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 97

[Docket No. 31170; Amdt. No. 3779]

Standard Instrument Approach Procedures, and Takeoff Minimums and
Obstacle Departure Procedures; Miscellaneous Amendments

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final rule.

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SUMMARY: This rule establishes, amends, suspends, or removes Standard
Instrument Approach Procedures (SIAPs) and associated Takeoff Minimums
and Obstacle Departure Procedures (ODPs) for operations at certain
airports. These regulatory actions are needed because of the adoption
of new or revised criteria, or because of changes occurring in the
National Airspace System, such as the commissioning of new navigational
facilities, adding new obstacles, or changing air traffic requirements.
These changes are designed to provide safe and efficient use of the
navigable airspace and to promote safe flight operations under
instrument flight rules at the affected airports.

DATES: This rule is effective December 26, 2017. The compliance date
for each SIAP, associated Takeoff Minimums, and ODP is specified in the
amendatory provisions.
    The incorporation by reference of certain publications listed in
the regulations is approved by the Director of the Federal Register as
of December 26, 2017.

ADDRESSES: Availability of matters incorporated by reference in the
amendment is as follows:

For Examination

    1. U.S. Department of Transportation, Docket Ops-M30, 1200 New
Jersey Avenue SE, West Bldg., Ground Floor, Washington, DC 20590-0001.
    2. The FAA Air Traffic Organization Service Area in which the
affected airport is located;
    3. The office of Aeronautical Navigation Products, 6500 South
MacArthur Blvd., Oklahoma City, OK 73169 or,
    4. The National Archives and Records Administration (NARA). For
information on the availability of this material at NARA, call 202-741-
6030, or go to: http://www.archives.gov/federal_register/code_of_federal_regulations/ibr_locations.html.

Availability

    All SIAPs and Takeoff Minimums and ODPs are available online free
of charge. Visit the National Flight Data Center at nfdc.faa.gov to
register. Additionally, individual SIAP and Takeoff Minimums and ODP
copies may be obtained from the FAA Air Traffic Organization Service
Area in which the affected airport is located.

FOR FURTHER INFORMATION CONTACT: Thomas J. Nichols, Flight Procedure
Standards Branch (AFS-420), Flight Technologies and Programs Divisions,
Flight Standards Service, Federal Aviation Administration, Mike
Monroney Aeronautical Center, 6500 South MacArthur Blvd., Oklahoma
City, OK 73169 (Mail Address: P.O. Box 25082, Oklahoma City, OK 73125)
Telephone:<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: This rule amends Title 14 of the Code of
Federal Regulations, Part 97 (14 CFR part 97), by establishing,
amending, suspending, or removes SIAPS, Takeoff Minimums and/or ODPS.
The complete regulatory description of each SIAP and its associated
Takeoff Minimums or ODP for an identified airport is listed on FAA form
documents which are incorporated by reference in this amendment under 5
U.S.C. 552(a), 1 CFR part 51, and 14 CFR part 97.20. The applicable FAA
forms are FAA Forms 8260-3, 8260-4,

8260-5, 8260-15A, and 8260-15B when required by an entry on 8260-15A.
    The large number of SIAPs, Takeoff Minimums and ODPs, their complex
nature, and the need for a special format make publication in the
Federal Register expensive and impractical. Further, airmen do not use
the regulatory text of the SIAPs, Takeoff Minimums or ODPs, but instead
refer to their graphic depiction on charts printed by publishers of
aeronautical materials. Thus, the advantages of incorporation by
reference are realized and publication of the complete description of
each SIAP, Takeoff Minimums and ODP listed on FAA form documents is
unnecessary. This amendment provides the affected CFR sections and
specifies the types of SIAPs, Takeoff Minimums and ODPs with their
applicable effective dates. This amendment also identifies the airport
and its location, the procedure, and the amendment number.

Availability and Summary of Material Incorporated by Reference

    The material incorporated by reference is publicly available as
listed in the ADDRESSES section.
    The material incorporated by reference describes SIAPS, Takeoff
Minimums and/or ODPS as identified in the amendatory language for part
97 of this final rule.

The Rule

    This amendment to 14 CFR part 97 is effective upon publication of
each separate SIAP, Takeoff Minimums and ODP as amended in the
transmittal. Some SIAP and Takeoff Minimums and textual ODP amendments
may have been issued previously by the FAA in a Flight Data Center
(FDC) Notice to Airmen (NOTAM) as an emergency action of immediate
flight safety relating directly to published aeronautical charts.
    The circumstances that created the need for some SIAP and Takeoff
Minimums and ODP amendments may require making them effective in less
than 30 days. For the remaining SIAPs and Takeoff Minimums and ODPs, an
effective date at least 30 days after publication is provided.
    Further, the SIAPs and Takeoff Minimums and ODPs contained in this
amendment are based on the criteria contained in the U.S. Standard for
Terminal Instrument Procedures (TERPS). In developing these SIAPs and
Takeoff Minimums and ODPs, the TERPS criteria were applied to the
conditions existing or anticipated at the affected airports. Because of
the close and immediate relationship between these SIAPs, Takeoff
Minimums and ODPs, and safety in air commerce, I find that notice and
public procedure under 5 U.S.C. 553(b) are impracticable and contrary
to the public interest and, where applicable, under 5 U.S.C. 553(d),
good cause exists for making some SIAPs effective in less than 30 days.
    The FAA has determined that this regulation only involves an
established body of technical regulations for which frequent and
routine amendments are necessary to keep them operationally current.
It, therefore--(1) is not a ``significant regulatory action'' under
Executive Order 12866; (2) is not a ``significant rule'' under DOT
Regulatory Policies and Procedures (44 FR 11034; February 26,1979); and
(3) does not warrant preparation of a regulatory evaluation as the
anticipated impact is so minimal. For the same reason, the FAA
certifies that this amendment will not have a significant economic
impact on a substantial number of small entities under the criteria of
the Regulatory Flexibility Act.

List of Subjects in 14 CFR Part 97

    Air traffic control, Airports, Incorporation by reference,
Navigation (air).

    Issued in Washington, DC, on December 15, 2017.
John S. Duncan,
Director, Flight Standards Service.

Adoption of the Amendment

    Accordingly, pursuant to the authority delegated to me,
    Title 14, Code of Federal Regulations, Part 97 (14 CFR part 97) is
amended by establishing, amending, suspending, or removing Standard
Instrument Approach Procedures and/or Takeoff Minimums and Obstacle
Departure Procedures effective at 0901 UTC on the dates specified, as
follows:

PART 97--STANDARD INSTRUMENT APPROACH PROCEDURES

0
1. The authority citation for part 97 continues to read as follows:

    Authority:  49 U.S.C. 106(f), 106(g), 40103, 40106, 40113,
40114, 40120, 44502, 44514, 44701, 44719, 44721-44722.

0
2. Part 97 is amended to read as follows:

Effective 1 February 2018

Buckland, AK, Buckland, Takeoff Minimums and Obstacle DP, Amdt 2
Sitka, AK, Sitka Rocky Gutierrez, BIORKA FOUR, Graphic DP
Atmore, AL, Atmore Muni, RNAV (GPS) RWY 18, Amdt 2
Atmore, AL, Atmore Muni, RNAV (GPS) RWY 36, Amdt 2
Atmore, AL, Atmore Muni, Takeoff Minimums and Obstacle DP, Amdt 2
Helena/West Helena, AR, Thompson-Robbins, Takeoff Minimums and
Obstacle DP, Amdt 1
San Martin, CA, San Martin, RNAV (GPS) RWY 32, Orig-C
Santa Monica, CA, Santa Monica Muni, TOPANGA TWO, Graphic DP
Stockton, CA, Stockton Metropolitan, RNAV (GPS) RWY 11L, Amdt 1A
Stockton, CA, Stockton Metropolitan, RNAV (GPS) RWY 29R, Amdt 1A
Vacaville, CA, Nut Tree, RNAV (GPS) RWY 20, Amdt 1A
Burlington, CO, Kit Carson County, LOC RWY 33, Amdt 1
Burlington, CO, Kit Carson County, NDB RWY 15, Amdt 2
Burlington, CO, Kit Carson County, RNAV (GPS) RWY 15, Amdt 1
Burlington, CO, Kit Carson County, Takeoff Minimums and Obstacle DP,
Orig-A
Colorado Springs, CO, City of Colorado Springs Muni, ILS OR LOC RWY
35L, ILS RWY 35L (SA CAT II), Amdt 39
Rifle, CO, Rifle Garfield County, SQUAT FOUR, Graphic DP
Rifle, CO, Rifle Garfield County, Takeoff Minimums and Obstacle DP,
Amdt 11
West Palm Beach, FL, North Palm Beach County General Aviation, ILS
OR LOC RWY 9R, Amdt 2
West Palm Beach, FL, North Palm Beach County General Aviation, RNAV
(GPS) RWY 9R, Amdt 2
West Palm Beach, FL, North Palm Beach County General Aviation, RNAV
(GPS) RWY 14, Amdt 1
West Palm Beach, FL, North Palm Beach County General Aviation, RNAV
(GPS) RWY 27L, Amdt 2
West Palm Beach, FL, North Palm Beach County General Aviation,
Takeoff Minimums and Obstacle DP, Amdt 1
West Palm Beach, FL, North Palm Beach County General Aviation, VOR
RWY 8R, Amdt 1D, CANCELED
Des Moines, IA, Des Moines Intl, ILS OR LOC RWY 5, Amdt 1
Des Moines, IA, Des Moines Intl, ILS OR LOC RWY 13, Amdt 10
Des Moines, IA, Des Moines Intl, ILS OR LOC RWY 31, ILS RWY 31 (SA
CAT I), ILS RWY 31 (CAT II), ILS RWY 31 (CAT III), Amdt 24
Des Moines, IA, Des Moines Intl, RNAV (GPS) RWY 5, Amdt 2
Des Moines, IA, Des Moines Intl, RNAV (GPS) RWY 13, Amdt 2
Des Moines, IA, Des Moines Intl, RNAV (GPS) RWY 23, Amdt 1
Des Moines, IA, Des Moines Intl, RNAV (GPS) RWY 31, Amdt 2
Des Moines, IA, Des Moines Intl, Takeoff Minimums and Obstacle DP,
Amdt 11A
Topeka, KS, Topeka Rgnl, ILS OR LOC RWY 31, Amdt 10
Topeka, KS, Topeka Rgnl, NDB RWY 13, Amdt 7C, CANCELED
Wichita, KS, Colonel James Jabara, ILS OR LOC RWY 18, Orig-B
Jackson, MI, Jackson County-Reynolds Field, Takeoff Minimums and
Obstacle DP, Amdt 6

South St Paul, MN, South St Paul Muni-Richard E Fleming Fld, RNAV
(GPS) RWY 34, Amdt 2
Billings, MT, Billings Logan Intl, ILS OR LOC RWY 28R, Amdt 3
Billings, MT, Billings Logan Intl, ILS Y OR LOC Y RWY 10L, Amdt 26
Billings, MT, Billings Logan Intl, NDB RWY 10L, Amdt 19A, CANCELED
Billings, MT, Billings Logan Intl, RNAV (GPS) RWY 7, Amdt 2
Billings, MT, Billings Logan Intl, RNAV (GPS) RWY 10L, Amdt 4
Billings, MT, Billings Logan Intl, RNAV (GPS) RWY 25, Amdt 2
Billings, MT, Billings Logan Intl, RNAV (GPS) Y RWY 28R, Amdt 4
Billings, MT, Billings Logan Intl, RNAV (RNP) Z RWY 28R, Amdt 1
Billings, MT, Billings Logan Intl, Takeoff Minimums and Obstacle DP,
Amdt 7A
Twin Bridges, MT, Twin Bridges, BRIDGES ONE, Graphic DP
Twin Bridges, MT, Twin Bridges, DILLON ONE, Graphic DP
Twin Bridges, MT, Twin Bridges, RNAV (GPS) RWY 17, Orig
Twin Bridges, MT, Twin Bridges, RNAV (GPS) RWY 35, Orig
Twin Bridges, MT, Twin Bridges, Takeoff Minimums and Obstacle DP,
Orig
Bismarck, ND, Bismarck Muni, ILS OR LOC RWY 31, Amdt 34
Columbus, OH, John Glenn Columbus Intl, RNAV (GPS) Y RWY 28L, Amdt
3D
Columbus, OH, John Glenn Columbus Intl, RNAV (RNP) Z RWY 28L, Amdt
1C
Eugene, OR, Mahlon Sweet Field, RNAV (GPS) Y RWY 16R, Amdt 2A
Eugene, OR, Mahlon Sweet Field, RNAV (GPS) Y RWY 34R, Amdt 3A
Eugene, OR, Mahlon Sweet Field, RNAV (RNP) Z RWY 16R, Amdt 1A
The Dalles, OR, Columbia Gorge Rgnl/The Dalles Muni, RNAV (GPS)-A,
Amdt 1A
Philadelphia, PA, Philadelphia Intl, ILS OR LOC RWY 9L, Amdt 4D
Philadelphia, PA, Philadelphia Intl, ILS OR LOC RWY 26, Amdt 4C
Philadelphia, PA, Philadelphia Intl, ILS OR LOC RWY 27L, Amdt 14A
Philadelphia, PA, Philadelphia Intl, ILS OR LOC RWY 27R, ILS RWY 27R
(SA CAT I), ILS RWY 27R (SA CAT II), Amdt 10G
Philadelphia, PA, Philadelphia Intl, ILS V RWY 17, Amdt 6C
(CONVERGING)
Philadelphia, PA, Philadelphia Intl, ILS Z OR LOC RWY 17, Amdt 8B
Philadelphia, PA, Philadelphia Intl, ILS Z OR LOC Z RWY 9R, ILS Z
RWY 9R (SA CAT I), ILS Z RWY 9R (CAT II), ILS Z RWY 9R (CAT III),
Amdt 10A
Philadelphia, PA, Philadelphia Intl, RNAV (GPS) RWY 17, Amdt 3B
Philadelphia, PA, Philadelphia Intl, RNAV (GPS) RWY 26, Amdt 1C
Philadelphia, PA, Philadelphia Intl, RNAV (GPS) RWY 27L, Amdt 3A
Philadelphia, PA, Philadelphia Intl, RNAV (GPS) RWY 27R, Amdt 1C
Philadelphia, PA, Philadelphia Intl, RNAV (GPS) RWY 35, Amdt 4A
Philadelphia, PA, Philadelphia Intl, RNAV (GPS) Y RWY 9L, Amdt 1B
Philadelphia, PA, Philadelphia Intl, RNAV (GPS) Y RWY 9R, Amdt 3A
Philadelphia, PA, Philadelphia Intl, RNAV (RNP) Z RWY 9L, Orig-D
Philadelphia, PA, Philadelphia Intl, RNAV (RNP) Z RWY 9R, Orig-D
Pittsburgh, PA, Allegheny County, ILS OR LOC RWY 10, Amdt 7
Sumter, SC, Sumter, ILS OR LOC RWY 23, Amdt 1
Sumter, SC, Sumter, RNAV (GPS) RWY 23, Amdt 1
Sumter, SC, Sumter, RNAV (GPS) Z RWY 23, Amdt 1, CANCELED
College Station, TX, Easterwood Field, ILS OR LOC RWY 34, Amdt 14
College Station, TX, Easterwood Field, LOC BC RWY 16, Amdt 8
College Station, TX, Easterwood Field, RNAV (GPS) RWY 10, Amdt 1C
College Station, TX, Easterwood Field, RNAV (GPS) RWY 16, Amdt 1B
College Station, TX, Easterwood Field, RNAV (GPS) RWY 28, Amdt 1A
College Station, TX, Easterwood Field, RNAV (GPS) RWY 34, Amdt 1B
College Station, TX, Easterwood Field, Takeoff Minimums and Obstacle
DP, Amdt 4
College Station, TX, Easterwood Field, VOR RWY 28, Amdt 14
College Station, TX, Easterwood Field, VOR OR TACAN RWY 10, Amdt 19D
Laredo, TX, Laredo Intl, ILS OR LOC RWY 18R, Amdt 12
Laredo, TX, Laredo Intl, LOC BC RWY 36L, Amdt 3
Laredo, TX, Laredo Intl, RNAV (GPS) RWY 14, Amdt 1
Laredo, TX, Laredo Intl, RNAV (GPS) RWY 18L, Amdt 1
Laredo, TX, Laredo Intl, RNAV (GPS) RWY 18R, Amdt 2
Laredo, TX, Laredo Intl, RNAV (GPS) RWY 32, Amdt 2
Laredo, TX, Laredo Intl, RNAV (GPS) RWY 36L, Amdt 3
Provo, UT, Provo Muni, ILS OR LOC RWY 13, Amdt 4
Rock Springs, WY, Rock Springs-Sweetwater County, RNAV (GPS) RWY 9,
Orig-A
Rock Springs, WY, Rock Springs-Sweetwater County, RNAV (GPS) RWY 27,
Amdt 1B

    RESCINDED: On December 4, 2017 (82 FR 57115), the FAA published
an Amendment in Docket No. 31166, Amdt No. 3775, to Part 97 of the
Federal Aviation Regulations under section 97.23, 97.29, and 97.33.
The following entries for Price, UT, effective February 1, 2018, are
hereby rescinded in their entirety:

Price, UT, Carbon County Rgnl/Buck Davis Field, ILS OR LOC RWY 1,
Amdt 1B
Price, UT, Carbon County Rgnl/Buck Davis Field, RNAV (GPS) RWY 1,
Amdt 2B
Price, UT, Carbon County Rgnl/Buck Davis Field, VOR RWY 1, Amdt 1B

[FR Doc. 2017-27679 Filed 12-22-17; 8:45 am]
 BILLING CODE 4910-13-P


[Federal Register Volume 77, Number 150 (Friday, August 3, 2012)]
[Notices]
[Pages 46433-46434]
[FR Doc No: 2012-19046]

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ENVIRONMENTAL PROTECTION AGENCY

[FRL-9710-9]

Proposed CERCLA Administrative Cost Recovery Settlements for the
Buckbee-Mears Co. Superfund Site in Cortland, NY, Cortland County

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice; request for public comment.

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SUMMARY: Under Section 122(h) of the Comprehensive Environmental
Response, Compensation, and Liability Act of 1980, as amended
(``CERCLA''), notice is hereby given of two proposed administrative
settlements for recovery

of past response costs concerning the Buckbee-Mears Co. Superfund Site
located in Cortland, Cortland County, New York (the ``Site'') with each
of the following settling parties: the City of Cortland (``City'') and
the County of Cortland (``County'')(collectively the ``Municipal
Settlements''). In order to resolve competing liens on two parcels of
land within the Site (``Properties''), the Municipal Settlements
provide that the City and the County agree to facilitate the sale and
redevelopment of the Properties. In addition, if the Properties are
sold pursuant to a pending foreclosure action by the State Bank of
India, New York Branch (the ``Bank''), the Bank will pay to the City,
in full satisfaction of the City's tax lien, the greater of $302,881
(being the amount of City Taxes in arrears as of September 29, 2006) or
fifteen percent (15%) of the proceeds from the sale of the Properties,
and the Bank will pay to the County $2,120 in full satisfaction of its
tax lien, after the Bank is paid $150,000 attributable to the costs of
marketing and selling the Properties. Any proceeds from the Bank's
foreclosure sale remaining after the above payments to the Bank, the
City and the County, shall be distributed in proportion to the
percentage that the following amounts represent in relation to the
combined total of said amounts: (1) For EPA, $8,323,204; (2) for the
Bank, $8,434,911; (3) for the City, $1,194,043 minus the greater of
$302,881 or fifteen percent (15%) of the proceeds from the sale of the
Properties. Also under the terms of the Municipal Agreements, if the
Properties are not sold through the Bank's foreclosure action, the City
and County will foreclosure on the Properties, transfer the Properties
and pay to EPA 50% of the selling price, after the transaction costs
associated with the sale have been paid. The transaction costs are
capped at $5,000 for the County and $150,000 for the City. EPA has also
agreed to discharge its CERCLA Section 107(l) lien on the Properties
and has agreed to waive any windfall lien it may have on the Properties
under CERCLA Section 107(r).
    For thirty (30) days following the date of publication of this
notice, the Agency will receive written comments relating to the
Municipal Agreements. The Agency will consider all comments received
and may modify or withdraw its consent to the two settlements if
comments received disclose facts or considerations which indicate that
either of the settlements is inappropriate, improper, or inadequate.

DATES: Comments must be provided within September 4, 2012.

ADDRESSES: Comments should be addressed to the U.S. Environmental
Protection Agency, Office of Regional Counsel, 290 Broadway, 17th
Floor, New York, New York 10007-1866 and should refer to the Buckbee-
Mears Co. Superfund Site located in Cortland, New York, Cortland
County, EPA Region II Docket No.'s CERCLA-02-2012-2018 and CERCLA-02-
2012-2024.

FOR FURTHER INFORMATION CONTACT: U.S. Environmental Protection Agency,
Office of Regional Counsel, 290 Broadway, 17th Floor, New York, New
York 10007-1866, Attention: Marla E. Wieder, Assistant Regional Counsel
at<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: A copy of the proposed settlements may be
obtained from Marla E. Wieder, Assistant Regional Counsel at the
address above, or via email at<EMAIL_ADDRESS>
    Dated: July 16, 2012.
John S. Frisco,
Acting Director, Emergency & Remedial Response Division.
[FR Doc. 2012-19046 Filed 8-2-12; 8:45 am]
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