[Federal Register Volume 81, Number 179 (Thursday, September 15, 2016)]
[Notices]
[Pages 63543-63547]
[FR Doc No: 2016-22153]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-78804; File No. SR-NYSEMKT-2016-58]

Self-Regulatory Organizations; NYSE Arca, Inc.; Order Instituting
Proceedings to Determine Whether To Approve or Disapprove Proposed Rule
Change, as Modified by Amendment No. 1, Relating to Amendments to NYSE
MKT Rules 1600 et seq. and the Listing Rules Applicable to the Shares
of the Nuveen Diversified Commodity Fund and the Nuveen Long/Short
Commodity Total Return Fund

September 9, 2016.
    On May 24, 2016, NYSE MKT LLC (``Exchange'') filed with the
Securities and Exchange Commission (``Commission''), pursuant to
Section 19(b)(1) of the Securities Exchange Act

of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a proposed rule
change to amend the listing rules applicable to the shares (``Shares'')
of the Nuveen Diversified Commodity Fund and the Nuveen Long/Short
Commodity Total Return Fund (collectively, ``Funds''), which the
Exchange currently lists and trades. The Commission published notice of
the proposed rule change in the Federal Register on June 13, 2016.\3\
On July 28, 2016, 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 September 2, 2016, the Exchange filed Amendment No. 1 to
the proposed rule change, which replaced and superseded the proposed
rule change as originally filed.\6\ The Commission received one comment
on the proposed rule change.\7\ This order institutes proceedings under
Section 19(b)(2)(B) of the Act \8\ to determine whether to approve or
disapprove the proposed rule change, as modified by Amendment No. 1.
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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. 78000 (June 7,
2016), 81 FR 38232.
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 78432, 81 FR 51248
(August 3, 2016). The Commission designated September 9, 2016, as
the date by which the Commission would either approve or disapprove,
or institute proceedings to determine whether to disapprove, the
proposed rule change.
    \6\ In Amendment No. 1, the Exchange amended Commentary .01 to
Exchange Rule 1602 to add the following new text: (1) All statements
and representations contained in such proposal regarding (a) the
description of the portfolio holdings, (b) limitations on portfolio
holdings, or (c) the applicability of Exchange rules and
surveillance procedures shall be complied with on a continuing basis
and the issuer of such issue of Trust Units shall notify the
Exchange of any material noncompliance with such statements and
representations; and (2) the Exchange will consider the suspension
of trading and delisting (if applicable) of an issue of Trust Units
under Sections 1001 through 1010 of the NYSE MKT Company Guide if
the issuer of such security notifies the Exchange of an event of
material noncompliance. Amendment No. 1 is available at: https://www.nyse.com/publicdocs/nyse/markets/nyse-mkt/rule-filings/filings/2016/NYSEMKT-2016-58.pdf.
    \7\ See comment letter dated July 4, 2016, available at: https://www.sec.gov/comments/sr-nysemkt-2016-58/nysemkt201658-1.pdf.
    \8\ 15 U.S.C. 78s(b)(2)(B).
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I. The Exchange's Description of the Proposal \9\
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    \9\ For additional information regarding, among other things,
the Funds, the Shares, investment strategies, risks, creation and
redemption procedures, fees, portfolio holdings, disclosure
policies, calculation of net asset value, distributions, taxes, see
Amendment No. 1, supra note 6; Pre-Effective Amendment No. 1 to the
registration statement on Form S-3 (File No. 333-205590), filed on
November 30, 2015 (the Diversified Fund); and Pre-Effective
Amendment No. 1 to the registration statement on Form S-3 (File No.
333-205587), filed on November 30, 2015 (the Long/Short Fund).
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    The Exchange currently lists and trades the Shares pursuant to NYSE
MKT Rules 1600 et seq. (Trading of Trust Units).\10\ To accommodate
certain changes to the Funds discussed below, the Exchange proposes to
amend NYSE MKT Rules 1600 et seq. and certain representations made in
support of the listing rules for the Shares upon which the Prior Orders
were conditioned.
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    \10\ See also Securities Exchange Act Release No. 61807 (March
31, 2010), 75 FR 17818 (April 7, 2010) (SR-NYSEAmex-2010-09) (order
approving listing and trading of shares of the Nuveen Diversified
Commodity Fund) (``Prior Diversified Order''); and Securities
Exchange Act Release No 67223 (June 20, 2012) (SR-NYSEAmex-2012-24)
(order approving listing and trading of shares of the Nuveen Long/
Short Commodity Total Return Fund) (``Prior Long/Short Order'' and,
together with the Prior Diversified Order, ``Prior Orders''). The
Exchange was formerly known as NYSE Amex LLC.
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    Currently, the Funds are structured as actively managed closed-end
commodity pools. On December 19, 2014, Nuveen Investments, parent
company of Nuveen Commodities Asset Management, LLC (``Manager''),
announced that it had approved a plan to convert the Funds into open-
end exchange-traded products (each such plan, a ``Conversion''), which
would involve instituting processes for continual creation and
redemption of the Shares at net asset value (``NAV'') on any business
day. At meetings of shareholders in 2015, the shareholders of each Fund
approved the Conversions. According to the Exchange, the purpose of the
Conversions is to promote the trading of the Funds' Shares at prices
equal to or near their NAV.\11\
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    \11\ Since the Conversion Plan Announcement, each Fund has
traded at a reduced discount to NAV: from December 18, 2014, to
March 9, 2016, the discount to NAV has been reduced for the
Diversified Fund from 18.02% to 5.11% and for the Long/Short Fund
from 19.80% to 3.75%. See Amendment No. 1, supra note 6, at 5, n.5.
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A. Amendments to NYSE MKT Rules 1600 et seq.

    Under NYSE MKT Rule 1600, a Trust Unit is a security that is issued
by a trust (``Trust''), or other similar entity, that is constituted as
a commodity pool and holds investments comprising, or otherwise based
on, any combination of futures contracts, options on futures contracts,
forward contracts, swap contracts, and/or commodities. The Exchange
proposes to amend Rules 1600 et seq. in several respects.
    Among other things, the Exchange proposes to amend its Rule
1600(b)(ii) by: (1) Allowing Trusts to invest in securities; and (2)
providing that Trust Units be issued and redeemed continuously in
specified aggregate amounts at the next determined NAV. The Exchange
also proposes to amend Rule 1602(a)(ii) to provide that the Exchange
will obtain a representation from the issuer of each series of Trust
Units that the NAV and the ``Disclosed Portfolio'' \12\ will be made
available to all market participants at the same time. Further, the
Exchange proposes to amend Rule 1602(b)(ii) to provide that, if the
Exchange becomes aware that the Disclosed Portfolio or NAV per share
with respect to a series of Trust Units is not disseminated to all
market participants at the same time, it will halt trading in such
series until such time as the Disclosed Portfolio or NAV per share is
available to all market participants.
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    \12\ ``Disclosed Portfolio'' is defined as the identities and
quantities of the assets held by a Trust that will form the basis
for that Trust's calculation of the NAV at the end of the business
day. See proposed NYSE MKT Rule 1600(b)(iii).
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    The Exchange also proposes to provide in Rule 1602(b)(iii) that
each series of Trust Units will be listed or traded subject to
application of the following criteria: (1) The ``Intraday Indicative
Value'' for shares \13\ will be widely disseminated by one or more
major market data vendors at least every 15 seconds during the time
when the Trust Units trade on the Exchange; (2) the Disclosed Portfolio
will be disseminated at least once daily and will be made available to
all market participants at the same time; and (3) the ``Reporting
Authority'' that provides the Disclosed Portfolio must implement and
maintain, or be subject to, procedures designed to prevent the use and
dissemination of material, non-public information regarding the actual
components of the portfolio.\14\
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    \13\ ``Intraday Indicative Value'' is defined as the estimated
indicative value of a Trust Unit based on current information
regarding the value of the assets in the Disclosed Portfolio. See
proposed Rule 1600(b)(iv).
    \14\ Proposed Rule 1600(b)(v) defines ``Reporting Authority''
as, in respect of a particular series of Trust Units, the Exchange,
an institution, or a reporting or information service designated by
the Trust or the Exchange or by the exchange that lists a particular
series of Trust Units (if the Exchange is trading such series
pursuant to unlisted trading privileges) as the official source for
calculating and reporting information relating to such series,
including, but not limited to, (i) the Intraday Indicative Value,
(ii) the Disclosed Portfolio, (iii) the amount of any cash
distribution to holders of Trust Units, (iv) NAV, and (v) other
information relating to the issuance, redemption, or trading of
Trust Units. A series of Trust Units may have more than one
Reporting Authority, each having different functions.
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    Moreover, the Exchange proposes in Commentary .04 to Rule 1600
that, if a Trust's advisor is affiliated with a

broker-dealer, the broker-dealer shall erect a ``fire wall'' around the
personnel who have access to information concerning changes and
adjustments to the Disclosed Portfolio. Personnel who make decisions on
the Trust's portfolio composition must be subject to procedures
designed to prevent the use and dissemination of material non-public
information regarding the applicable portfolio.

B. Descriptions of the Funds

    Each Fund currently is a commodity pool managed by the Manager. The
Manager is a Delaware limited liability company that is registered as a
commodity pool operator (``CPO'') with the Commodity Futures Trading
Commission (``CFTC''). The Manager is a wholly-owned subsidiary of
Nuveen Investments, Inc. (``Nuveen Investments''). The Manager is
responsible for determining the Funds' overall investment strategies
and overseeing their implementation. The Manager also manages the
Funds' business affairs and provides certain legal, accounting, and
other administrative services.
    Gresham Investment Management LLC (``Commodity Subadviser''), an
affiliate of the Manager, manages each Fund's commodity futures
investment strategy. The Commodity Subadviser is a Delaware limited
liability company and is registered with the CFTC as a commodity
trading advisor and as a CPO and is a member of the National Futures
Association. Additionally, the Commodity Subadviser is registered with
the Commission as an investment adviser under the Investment Advisers
Act of 1940, as amended (``Advisers Act'').
    Nuveen Asset Management, LLC (``Collateral Subadviser'' and,
together with the Commodity Subadviser, the ``Subadvisers''), an
affiliate of the Manager, manages each Fund's investments in U.S.
government securities, other short-term, high grade fixed income
securities, and cash equivalents (``collateral''). The Collateral
Subadviser is registered with the Commission as an investment adviser
under the Advisers Act.
    State Street Bank and Trust Company serves as transfer agent,
registrar for the Shares, and custodian and administrator of the assets
of each Fund, pursuant to which it performs NAV calculations,
accounting and other fund administrative services. After the
Conversions, it also will receive and process orders from Authorized
Participants to create and redeem Shares of each Fund.

C. Post-Conversion Changes and Amended Representations Regarding the
Funds

    At the time of the Conversions, the Shares would be assigned new
CUSIP numbers, and the name of the Funds would change: The name of the
Diversified Fund would change to the NuShares Gresham Adaptive
Commodity ETF, and the name of the Long/Short Fund would change to the
NuShares Gresham Long/Short Commodity ETF. Currently, the Funds are not
investment companies within the meaning of the Investment Company Act
of 1940, as amended (``Investment Company Act''), and they would not
become investment companies after the Conversions. The Manager would
announce in advance the expected effective date of the Conversions via
press releases and Form 8-K filings. Those press releases would include
a summary of changes to the Funds that would occur in connection with
the Conversions. The Exchange also would issue a notice to members
approximately 10 days prior to the date of effectiveness of the
Conversion, and another notice to members on the business day prior to
the date Shares would trade under the new CUSIP.
    In connection with the Conversions, the Manager intends to
implement additional changes to both Funds that the Manager believes
will better align the Funds' features with their newly-adopted ETP
structure. The charts below summarize those changes.

------------------------------------------------------------------------
           Before conversion                     After conversion
------------------------------------------------------------------------
                       Changes to Diversified Fund
------------------------------------------------------------------------
Fund name:
    Nuveen Diversified Commodity Fund..  NuShares Gresham Adaptive
                                          Commodity ETF.
Ticker:
    CFD................................  GAC.
Distribution Policy:
    Pays regular monthly distributions.  Discontinue regular monthly
                                          Distributions.
Share Repurchases:
    Active share repurchase program....  Discontinue share repurchase
                                          Program.
Investment Strategy:
    Long-only commodity strategy.......  Long-biased commodity strategy-
                                          weightings determined on a
                                          monthly basis; if the price of
                                          a commodity contract is higher
                                          than its six-month simple
                                          moving average, the commodity
                                          contract will be held at its
                                          target weight; conversely, if
                                          the price is below the six-
                                          month simple moving average,
                                          the commodity weight will be
                                          reduced by half.
    Invest in forwards.................  No longer invest in forwards.
    Option writing program.............  Discontinue option writing
                                          program.
    Collateral invested in cash          Collateral invested in U.S.
     equivalents, U.S. government         government securities, with
     securities and other short-term      terms not exceeding one year,
     high-grade debt securities,          and cash equivalents.
     including corporate debt, with
     terms not exceeding one year.
------------------------------------------------------------------------
                       Changes to Long/Short Fund
------------------------------------------------------------------------
Fund name:
    Nuveen Long/Short Commodity Total    NuShares Gresham Long/Short
     Return Fund.                         Commodity ETF.
Ticker:
    CTF................................  GLS.
Distribution Policy:
    Pays regular monthly distributions.  Discontinue regular monthly
                                          distributions.
Share Repurchases:

    Active share repurchase Program....  Discontinue share repurchase
                                          Program.
Investment Strategy:
    Long/short commodity futures         Long/short commodity futures
     strategy based on the Morningstar    strategy based on the Gresham
     Long/Short Commodity Index.          Long/Short Commodity Index.
    Uses momentum-based model to         Long/short commodity strategy--
     calculate 12-month moving price      Momentum-based model will
     averages that are used to            employ shorter-term moving
     determine whether a commodity        averages (such as 6-months) to
     futures position is held long or     determine whether a commodity
     short.                               futures position in the Index
                                          is held long or short (or
                                          flat, for petroleum-related
                                          commodities). Weightings are
                                          determined on a monthly basis;
                                          if the price of a commodity
                                          contract is higher than its
                                          six-month simple moving
                                          average, the commodity is
                                          assigned a long position;
                                          conversely, if the price is
                                          below the six-month simple
                                          moving average, it is assigned
                                          a short position.
    Will not short energy futures--if    Will not short petroleum-based
     model signals to short energy        futures--if model signals to
     futures, positions will instead be   short petroleum-based futures,
     held ``flat'' (i.e., in cash).       positions will instead be held
                                          ``flat'' (i.e., in cash).
    Invest in forwards.................  No longer invest in forwards.
    Option writing program.............  Discontinue option writing
                                          program.
    Collateral invested in cash          Collateral invested in short-
     equivalents, U.S. government         term U.S. government
     securities and other short-term      securities and cash
     high-grade debt securities,          equivalents.
     including corporate debt, with
     terms not exceeding one year.
------------------------------------------------------------------------

    After the Conversions, each Fund's principal investments are not
expected to change. Under normal market conditions,\15\ each Fund will
continue to invest in (i) commodity futures contracts that provide
exposure to the global commodity markets (``Commodity Futures'') listed
on U.S. and non-U.S. futures exchanges \16\ having various expiration
dates, and (ii) collateral consisting of U.S. government securities and
cash equivalents, some of which are maintained on deposit with a Fund's
commodity broker as margin, to collateralize a Fund's positions in the
Commodity Futures. Moreover, as stated above, the Funds will not invest
in forwards or options following the Conversions. In addition, each
Fund's Commodity Futures investments will, at all times, be fully
collateralized (i.e., the ``notional value''--the value of the
underlying commodity at the contract's spot price--of the Fund's
commodity exposure will not exceed the market value of the Fund's net
assets).
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    \15\ With respect to each Fund, the term ``under normal market
conditions'' includes, but is not limited to, the absence of extreme
volatility or trading halts in the financial markets generally;
operational issues causing dissemination of inaccurate market
information; or force majeure type events such as a systems failure,
natural or man-made disaster, act of God, armed conflict, act of
terrorism, riot or labor disruption or any similar intervening
circumstance.
    \16\ Each Fund would make investments in Commodity Futures in
agriculture, energy, foods and fibers, industrial metals, livestock,
and precious metals, and would take positions in Commodity Futures
related to approximately 30 commodities. Each Fund would continue to
allocate its investments to Commodity Futures pursuant to the
Commodity Subadviser's proprietary strategy. See Amendment No. 1,
supra note 6, at 17. Not more than 10% of the net assets of a Fund,
in the aggregate, shall consist of futures contracts whose principal
market is not a member of the Intermarket Surveillance Group
(``ISG'') or with which the Exchange has in place a comprehensive
surveillance sharing agreement. See Amendment No. 1, supra note 6,
at 15, n.17.
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    Whereas in support of the Prior Orders the Exchange represented
that 25% of each Fund's collateral will be committed as ``initial'' and
``variation'' margin, the Funds now represent that, following the
Conversions, approximately 10-25% of each Fund's collateral would be
committed as initial and variation margin and be segregated pursuant to
the Commodity Exchange Act, and the regulations thereunder, to secure
the futures contract positions.\17\ The remaining 75-90% of a Fund's
collateral (as opposed to a set 75%, as represented in support of the
Prior Orders) would continue be held in a separate collateral
investment account managed by the Collateral Subadviser. The eligible
collateral investments would also change following the Conversion--the
Funds would no longer invest in money market funds or repurchase
agreements. Instead, they would invest in short-term U.S. government
securities and cash equivalents.
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    \17\ Those assets would be held in a commodity futures account
maintained by SG Americas Securities, LLC, the Funds' clearing
broker, which serves as a futures commission merchant and broker-
dealer registered with the CFTC and the Commission.
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II. Proceedings To Determine Whether To Approve or Disapprove SR-
NYSEMKT-2016-58 and Grounds for Disapproval Under Consideration

    The Commission is instituting proceedings pursuant to Section
19(b)(2)(B) of the Act \18\ to determine whether the proposed rule
change, as modified by Amendment No. 1 should be approved or
disapproved. Institution of such proceedings is appropriate at this
time in view of the legal and policy issues raised by the proposed rule
change. Institution of proceedings does not indicate that the
Commission has reached any conclusions with respect to any of the
issues involved. Rather, as described below, the Commission seeks and
encourages interested persons to provide comments on the proposed rule
change.
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    \18\ 15 U.S.C. 78s(b)(2)(B).
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    Pursuant to Section 19(b)(2)(B) of the Act,\19\ the Commission is
providing notice of the grounds for disapproval under consideration.
The Commission is instituting proceedings to allow for the submission
of additional analysis regarding the proposed rule change's consistency
with Section 6(b)(5) of the Act, which requires, among other things,
that the rules of a national securities exchange be ``designed to
prevent fraudulent and manipulative acts and practices, to promote just
and equitable principles of trade,'' and ``to protect investors and the
public interest.'' \20\
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    \19\ Id.
    \20\ 15 U.S.C. 78f(b)(5).
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    The pre-existing Shares after the Conversions would not be deemed
new securities but would continue to trade on the Exchange without
interruption. As discussed above, the Exchange states that: (1) Ahead
of the Conversions, the Manager would announce via press releases and
Form 8-K filings the expected effective date of the Conversions; (2)
those press releases would include a summary of changes to the Funds
that would occur in connection with the Conversions; (3) NYSE MKT would
issue a notice to members approximately 10 days prior to the date of
effectiveness of the

Conversion, and another notice to members on the business day prior to
the date Shares would trade under the new CUSIP. Because the Shares
will continue to be listed and traded on the Exchange without
interruption as the Funds transition from a closed-end to an open-end
structure, the Commission seeks comment on whether the Exchange's
proposal is designed to sufficiently ensure that the trading of the
Shares during the Conversions will be orderly and without undue market
confusion or disruption.
    Separately, the Exchange proposes to amend Commentary .01 to its
Rule 1602, which pertains to initial and continued listing requirements
for Trust Units, to provide that ``the issuer of [an] issue of Trust
Units shall notify the Exchange of any material noncompliance with
[any] statements and representations'' and that ``the Exchange will
consider suspending trading in and, if applicable, delisting of, an
issue of Trust Units if the issuer of such security notifies the
Exchange of material noncompliance'' (emphasis added). The Commission
believes that it is critical that listed issues, including those of
exchange traded products such as the Funds, comply with exchange
listing standards on an ongoing basis and that listing exchanges
rigorously enforce those rules. Accordingly, the Commission, seeks
comment on whether the Exchange's proposed amendment to Commentary .01
that proposes to ``consider'' suspension and delisting only for
``material'' noncompliance of the Exchange's listing standards is
consistent with Section 6(b)(5) of the Act, which, among other things,
requires that the rules of an exchange be designed to prevent
fraudulent and manipulative acts and practices, to promote just and
equitable principles of trade, and to protect investors and the public
interest.

III. Procedure: Request for Written Comments

    The Commission requests that interested persons provide written
submissions of their views, data, and arguments with respect to the
issues identified above, as well as any other concerns they may have
with the proposal. In particular, the Commission invites the written
views of interested persons concerning whether the proposal is
consistent with Section 6(b)(5) or any other provision of the Act, or
the rules and regulations thereunder. Although there do not appear to
be any issues relevant to approval or disapproval that would be
facilitated by an oral presentation of views, data, and arguments, the
Commission will consider, pursuant to Rule 19b-4, any request for an
opportunity to make an oral presentation.\21\
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    \21\ Section 19(b)(2) of the Act, as amended by the Securities
Act Amendments of 1975, Public Law 94-29 (June 4, 1975), grants the
Commission flexibility to determine what type of proceeding--either
oral or notice and opportunity for written comments--is appropriate
for consideration of a particular proposal by a self-regulatory
organization. See Securities Act Amendments of 1975, Senate Comm. on
Banking, Housing & Urban Affairs, S. Rep. No. 75, 94th Cong., 1st
Sess. 30 (1975).
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    Interested persons are invited to submit written data, views, and
arguments regarding whether the proposal should be approved or
disapproved by October 6, 2016. Any person who wishes to file a
rebuttal to any other person's submission must file that rebuttal by
October 20, 2016. The Commission asks that commenters address the
sufficiency of the Exchange's statements in support of the proposal,
which are set forth in Amendment No. 1, in addition to any other
comments they may wish to submit about the proposed rule change.
    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-2016-58 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 Numbers SR-NYSEMKT-2016-58. 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 these filings 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-NYSEMKT-2016-58 and should
be submitted on or before October 6, 2016. Rebuttal comments should be
submitted by October 20, 2016.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\22\
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    \22\ 17 CFR 200.30-3(a)(57).
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Brent J. Fields,
Secretary.
[FR Doc. 2016-22153 Filed 9-14-16; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 86, Number 173 (Friday, September 10, 2021)]
[Notices]
[Pages 50772-50773]
[FR Doc No: 2021-19577]

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DEPARTMENT OF TRANSPORTATION

National Highway Traffic Safety Administration

[Docket No. NHTSA-2021-0060]

NHTSA Safety Research Portfolio Public Meeting: Fall 2021

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

ACTION: Announcement of public meeting.

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SUMMARY: NHTSA is announcing its 2021 safety research portfolio public
meeting where the agency's Vehicle Safety Research and Behavioral
Safety Research offices will present information on activities related
to the agency's safety research programs. Representatives from across
the research offices will present the information in a virtual panel
format. Questions from the audience will be accepted following
presentations in a format to be determined.

DATES: NHTSA will host the public meeting on October 19-21, 2021, from
11:00 a.m. to 4:00 p.m., Eastern Standard Time (EST) each day. The
meeting will be held virtually. Registration to attend the meeting must
be received no later than October 15, 2021. The public docket will
remain open for comment for 90 days following the conclusion of the
public meeting, until January 19, 2022.

ADDRESSES: The meeting will be held virtually via GoToWebinar. The
virtual meeting's online access link and a detailed agenda will be
provided upon registration. The meeting will also be recorded and made
available after the event for offline viewing at https://www.nhtsa.gov/events/research-public-meeting-2021 listed under the title of the
public meeting.
    Following the public meeting, you may send comments, identified by
Docket No. NHTSA-2021-0060, by any of the following methods:
     Federal Rulemaking Portal: Go to http://www.regulations.gov. Follow the online instructions for submitting
comments.
     Mail: Docket Management Facility: U.S. Department of
Transportation, 1200 New Jersey Avenue SE, West Building Ground Floor,
Room W12-140, Washington, DC 20590-0001.
     Hand Delivery or Courier: 1200 New Jersey Avenue SE, West
Building Ground Floor, Room W12-140, Washington, DC 20590-0001, between
9 a.m. and 5 p.m. ET, Monday through Friday, except Federal Holidays.
To be sure someone is there to help you, please call<PHONE_NUMBER>
before coming.
     Fax:<PHONE_NUMBER>.
    Instructions: All submissions must include the agency name and
docket number. Note that all comments received will be posted without
change to http://www.regulations.gov, including any personal
information provided. Please see the Privacy Act discussion below.
    Docket: For access to the docket go to http://www.regulations.gov
at any time or to 1200 New Jersey Avenue SE, West Building, Ground
Floor, Room W12-140, Washington, DC 20590 between 9 a.m. and 5 p.m.,
Monday through Friday, except Federal Holidays. Telephone: 202-366-
9826.

FOR FURTHER INFORMATION CONTACT: If you have questions about the public
meeting, please contact Lisa Floyd at<PHONE_NUMBER>, or by email at
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: Each year, NHTSA executes a broad array of
research programs in support of Administration, DOT, and agency
priorities. The agency's research portfolio covers program areas
pertaining to vehicle safety including safety countermeasures
implemented through the vehicle, its components, operations and use,
accessibility considerations, alternative fuels, among others; and
behavioral safety including safety countermeasures that pertain to the
behavior and actions of drivers, occupants, and other road users,
including vulnerable populations.
    NHTSA holds Safety Research Portfolio public meetings to provide
public outreach regarding research activities at NHTSA for both vehicle
and behavioral safety, including expected near-term deliverables, and
solicit stakeholder questions and input. NHTSA's Safety Research
Portfolio meetings are historically held in-person. The agency's most
recent Safety Research Portfolio public meeting was held on November
20-21, 2019. These meetings draw large numbers of attendees among
automotive safety stakeholder groups, including international audience
members. Due to the continued and varied global effects of the COVID-19
public health emergency, in an abundance of caution,

this year's meeting will be conducted virtually.
    NHTSA technical research staff will discuss projects underway and
allow time for meeting attendees to ask questions. Given the virtual
nature of the event, all presented information will be available for
download. Updates on this event will be available at https://www.nhtsa.gov/events/research-public-meeting-2021 listed under the
title of the public meeting.
    Discussion of research projects will occur in the form of technical
panel presentations, with the following topics planned:
     Day 1, October 19 (11 a.m. to 4 p.m. EST), Crash avoidance
research panels including advanced driver assistance systems, human
factors, Automated Driving Systems (ADS), and vehicle cybersecurity.
     Day 2: October 20 (11 a.m. to 4 p.m. EST), Behavioral
safety panels presenting on speeding/speed management and risky driving
behaviors followed by panels on vulnerable road user research and
alternative fuels.
     Day 3: October 21 (11 a.m. to 4 p.m. EST), Crashworthiness
research panels presenting on female crash safety, ADS crash safety,
advanced crash test dummies, and occupant protection.
    The agency invites comments on the information presented regarding
research priorities, research goals, and additional research gaps/needs
the public may believe NHTSA should be addressing. Select project work
may be posted to the docket for which comments are also welcome. Slides
presented at the public meeting will be posted to the docket
subsequently for public viewing and a recording of the meeting will be
made available after the event for offline viewing.

Public Participation

    Registration is required for all attendees. There is no cost to
register. Attendees should register at https://www.nhtsa.gov/events/research-public-meeting-2021 by October 15, 2021. Please provide name,
affiliation, email, and indicate whether you need an accommodation.
    NHTSA is committed to providing equal access to this meeting for
all participants. Persons with disabilities in need of an accommodation
should contact Lisa Floyd at<PHONE_NUMBER>, or via email at
<EMAIL_ADDRESS>with your request as soon as possible. A sign
language interpreter will be provided, and closed captioning services
will be available for this meeting through the GoToWebinar's platform.
    Should it become necessary to cancel or reschedule the meeting due
to an unforeseen circumstance, NHTSA will take all available measures
to notify registered participants as soon as possible. NHTSA will
conduct the public meeting informally, and technical rules of evidence
will not apply. The meeting will be recorded, and a recording will be
made available after the event.
    Comments: Comments may be submitted electronically or in hard copy
during the 90-day comment period. Please submit all comments no later
than January 22, 2022, following the close of the public meeting by any
of the following methods:
    Privacy Act: Anyone is able to search the electronic form of all
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 DOT's
complete Privacy Act Statement in the Federal Register published on
April 11, 2000, (Volume 65, Number 70; Pages 19477-78), or you may
visit http://www.regulations.gov/privacy.html.
    Confidential Business Information: If you wish to submit any
information under a claim of confidentiality, you should submit three
copies of your complete submission, including the information you claim
to be confidential business information to the Chief Counsel, NHTSA, at
1200 New Jersey Avenue SE, Washington, DC 20590. In addition, you
should submit two copies, from which you have deleted the claimed
confidential business information, to Docket Management at the address
given above. When you send a comment containing information claimed to
be confidential business information, you should submit a cover letter
setting forth the information specified in our confidential business
information regulation (49 CFR part 512). To facilitate social
distancing during COVID-19, NHTSA is temporarily accepting confidential
business information electronically. Please see https://www.nhtsa.gov/coronavirus/submission-confidential-business-information for details.
    Authority: 49 U.S.C. 30181-30182; delegation of authority at 49 CFR
1.95.

    Issued in Washington, DC.
Cem Hatipoglu,
Associate Administrator for Vehicle Safety Research.
[FR Doc. 2021-19577 Filed 9-9-21; 8:45 am]
BILLING CODE 4910-59-P


[Federal Register Volume 82, Number 235 (Friday, December 8, 2017)]
[Notices]
[Page 57968]
[FR Doc No: 2017-26497]

=======================================================================
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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings #1

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

    Docket Numbers: EC17-180-000.
    Applicants: American Electric Power Service Corporation, AEP West
Virginia Transmission Company, Inc.
    Description: Amendment to September 15, 2017 Application Under
Section 203 of the Federal Power Act to Acquire Transmission Facilities
and Request for Certain Waivers of American Electric Power Service
Corporation, et al.
    Filed Date: 12/4/17.
    Accession Number: 20171204-5080.
    Comments Due: 5 p.m. ET 12/14/17.

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

    Docket Numbers: ER10-2964-015.
    Applicants: Selkirk Cogen Partners, L.P.
    Description: Notice of Non-Material Change of Selkirk Cogen
Partners, L.P.
    Filed Date: 12/1/17.
    Accession Number: 20171201-5373.
    Comments Due: 5 p.m. ET 12/22/17.

    Docket Numbers: ER14-695-006.
    Applicants: Entergy Services, Inc.
    Description: Compliance filing: LBA Compliance Errata ER14-695 12-
1-2017 to be effective 12/19/2013.
    Filed Date: 12/1/17.
    Accession Number: 20171201-5271.
    Comments Due: 5 p.m. ET 12/22/17.

    Docket Numbers: ER14-700-008.
    Applicants: Entergy Services, Inc.
    Description: Compliance filing: LBA Compliance Errata ER14-700 12-
1-2017 to be effective 12/19/2013.
    Filed Date: 12/1/17.
    Accession Number: 20171201-5264.
    Comments Due: 5 p.m. ET 12/22/17.

    Docket Numbers: ER18-374-000.
    Applicants: Southwest Power Pool, Inc.
    Description: Sec.  205(d) Rate Filing: Attachment Z2 Tariff
Revisions to be effective 2/1/2018.
    Filed Date: 12/1/17.
    Accession Number: 20171201-5309.
    Comments Due: 5 p.m. ET 12/22/17.

    Docket Numbers: ER18-375-000.
    Applicants: California Independent System Operator Corporation.
    Description: Sec.  205(d) Rate Filing: 2017-12-01 Aliso Canyon
Emergency Gas-Electric Coorindation Amendment to be effective 12/16/
2017.
    Filed Date: 12/1/17.
    Accession Number: 20171201-5313.
    Comments Due: 5 p.m. ET 12/11/17.

    Docket Numbers: ER18-376-000.
    Applicants: Cogen Technologies Linden Venture, L.P.
    Description: Compliance filing: Updates to MBR Tariff to be
effective 12/5/2017.
    Filed Date: 12/4/17.
    Accession Number: 20171204-5050.
    Comments Due: 5 p.m. ET 12/26/17.

    Docket Numbers: ER18-377-000.
    Applicants: PJM Interconnection, L.L.C.
    Description: Sec.  205(d) Rate Filing: Amendment to WMPA SA No.
3183; Queue No. W3-029 to be effective 11/10/2014.
    Filed Date: 12/4/17.
    Accession Number: 20171204-5082.
    Comments Due: 5 p.m. ET 12/26/17.

    Docket Numbers: ER18-378-000.
    Applicants: Public Service Company of Colorado.
    Description: Sec.  205(d) Rate Filing: 12012017_5th Revised IREA
PPA to be effective 12/5/2017.
    Filed Date: 12/4/17.
    Accession Number: 20171204-5090.
    Comments Due: 5 p.m. ET 12/26/17.

    Docket Numbers: ER18-379-000.
    Applicants: Midcontinent Independent System Operator, Inc., Ameren
Illinois Company.
    Description: Sec.  205(d) Rate Filing: 2017-12-04_SA 3068 Ameren-
Hannibal Construction Agreement (#2) to be effective 11/5/2017.
    Filed Date: 12/4/17.
    Accession Number: 20171204-5091.
    Comments Due: 5 p.m. ET 12/26/17.

    Docket Numbers: ER18-380-000.
    Applicants: Talen Energy Marketing, LLC.
    Description: Request for Limited Waiver of Talen Energy Marketing,
LLC.
    Filed Date: 12/4/17.
    Accession Number: 20171204-5094.
    Comments Due: 5 p.m. ET 12/26/17.

    Docket Numbers: ER18-381-000.
    Applicants: Southwest Power Pool, Inc.
    Description: Petition for Waiver of Tariff Provisions of Southwest
Power Pool, Inc.
    Filed Date: 12/4/17.
    Accession Number: 20171204-5095.
    Comments Due: 5 p.m. ET 12/26/17.

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

    Docket Numbers: ES18-12-000.
    Applicants: GridLiance West Transco LLC.
    Description: Application For Certain Authorization Under Section
204 of the Federal Power Act of GridLiance West Transco LLC.
    Filed Date: 12/1/17.
    Accession Number: 20171201-5378.
    Comments Due: 5 p.m. ET 12/22/17.

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

    Dated: December 4, 2017.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2017-26497 Filed 12-7-17; 8:45 am]
 BILLING CODE 6717-01-P


[Federal Register Volume 76, Number 145 (Thursday, July 28, 2011)]
[Notices]
[Page 45308]
[FR Doc No: 2011-19181]

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

SECURITIES AND EXCHANGE COMMISSION

Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the
Government in the Sunshine Act, Public Law 94-409, that the Securities
and Exchange Commission (``SEC'') and the Commodity Futures Trading
Commission (``CFTC'') will hold public roundtable discussions on
Monday, August 1, 2011, at the CFTC's headquarters at Three Lafayette
Centre, 1155 21st Street, NW., Washington, DC 20581.
    The meeting will begin at 9 a.m. and will be open to the public,
with seating made available on a first-come, first-served basis.
Visitors will be subject to security checks. This Sunshine Act notice
is being issued because a majority of the Commission may attend the
meeting.
    The agenda for the meeting includes panel discussions addressing
various international issues related to the implementation of Title VII
of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
    For further information, please contact the CFTC's Office of Public
Affairs at<PHONE_NUMBER> or the SEC's Office of Public Affairs at
(202) 551-4120.

    Dated: July 25, 2011.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-19181 Filed 7-26-11; 11:15 am]
BILLING CODE 8011-01-P


[Federal Register Volume 81, Number 94 (Monday, May 16, 2016)]
[Notices]
[Pages 30413-30414]
[FR Doc No: 2016-11498]

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

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

Tenth Meeting: RTCA Special Committee 231 (SC-231) Terrain
Awareness Warning Systems (TAWS)

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

ACTION: Notice of Tenth RTCA Special Committee 231 Meeting.

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

SUMMARY: The FAA is issuing this notice to advise the public of the
Tenth RTCA Special Committee 231 meeting.

DATES: The meeting will be held June 7-10, 2016 from 9:00 a.m.-5:00
p.m.

ADDRESSES: The meeting will be held at RTCA, Inc., 1150 18th Street
NW., Suite 910, Washington, DC 20036, Tel:<PHONE_NUMBER>.

FOR FURTHER INFORMATION CONTACT: The RTCA Secretariat, 1150 18th Street
NW., Suite 910, Washington, DC 20036, or by telephone at (202) 833-
9339, fax at<PHONE_NUMBER>, or Web site at http://www.rtca.org or
Jennifer Iversen, Program Director, RTCA, Inc<EMAIL_ADDRESS>
(202) 330-0662.

SUPPLEMENTARY INFORMATION: Pursuant to section 10(a)(2) of the Federal

Advisory Committee Act (Pub. L. 92-463, 5 U.S.C., App.), notice is
hereby given for a meeting of RTCA Special Committee 231. The agenda
will include the following:

Tuesday, June 7, 2016 (9:00 a.m.-5:00 p.m.)

1. Welcome/Introduction
2. Administrative Remarks
3. Agenda Review
4. Summary of Working Group activities
5. Other Business
6. Date and Place of Next Meeting

Wednesday, June 8, 2016 (9:00 a.m.-5:00 p.m.)

1. Continuation of Plenary or Working Group Session

Thursday, June 9, 2016 (9:00 a.m.-5:00 p.m.)

1. Continuation of Plenary or Working Group Session

Friday, June 10, 2016 (9:00 a.m.-1:00 p.m.)

1. Continuation of Plenary or Working Group Session

    Attendance is open to the interested public but limited to space
availability. With the approval of the chairman, members of the public
may present oral statements at the meeting. Plenary information will be
provided upon request. Persons who wish to present statements or obtain
information should contact the person listed in the FOR FURTHER
INFORMATION CONTACT section. Members of the public may present a
written statement to the committee at any time.

    Issued in Washington, DC, on May 10, 2016.
Latasha Robinson,
Management & Program Analyst, NextGen, Enterprise Support Services
Division, Federal Aviation Administration.
[FR Doc. 2016-11498 Filed 5-13-16; 8:45 am]
BILLING CODE 4910-13-P


UNITED STATES ENVIRONMENTAL PROTECTION AGENCY

NATIONAL VEHICLE AND FUEL EMISSIONS LABORATORY

2000 TRAVERWOOD DRIVE

ANN ARBOR, MI  48105-2498

									     OFFICE OF

									AIR AND RADIATION

August 14, 2013

MEMORANDUM

SUBJECT: Meeting with GM regarding Tier 3

FROM: Michael Olechiw

TO:  EPA Docket # EPA-HQ-OAR-2011-0135

This memo documents a meeting held on August 14, 2013 between representatives of General Motors and EPA to discuss Tier 3.

The attendees are shown below.  The agenda has been docketed as a separate .pdf.  The purpose of the meeting was to clarify points in the Tier 3 rule.

Attendees:

Michael Olechiw	EPA

Dave Belton		GM

Bill Studzinski		GM

Robert Babik		GM

Chris Nevers		EPA

Don Kopinski		EPA

Chris Laroo		EPA

David Wright		EPA

Dave Good		EPA

Steve Horetski		GM

Andy Barren		GM

Jim Ehlmann		GM

Donald Nagy		GM

Steve Fornetti		GM

Glenn W. Passavant	GM

Tony Fernandez	EPA

Paul Machiele		EPA

Tad Wysor		EPA

Alan Stout		EPA


[Federal Register: October 25, 2011 (Volume 76, Number 206)]
[Rules and Regulations]
[Page 65936-65938]
[DOCID:fr25oc11-4]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. FAA-2011-0255; Directorate Identifier 2010-NM-253-AD;
Amendment 39-16844; AD 2011-22-02]
RIN 2120-AA64

Airworthiness Directives; Airbus Airplanes

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

ACTION: Final rule.

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

SUMMARY: We are adopting a new airworthiness directive (AD) for all
Airbus Model A310 series airplanes; Model A300 B4-600, B4-600R, and F4-
600R series airplanes; and Model C4-605R variant F airplanes
(collectively called A300-600 series airplanes). This AD results from
mandatory continuing airworthiness information (MCAI) originated by an
aviation authority of another country to identify and correct an unsafe
condition on an aviation product. The MCAI describes the unsafe
condition as:

    An operator reported several cases of wire damages at the pylon/
wing interface. Analysis revealed that wires damages are due to
installation quality issue resulting from lack of information in
installation drawings and job cards.
    Moreover detailed analysis has highlighted that the Low Pressure
Valve (LPV) wires were not segregated by design.
* * * * *
    If left uncorrected, the wire chafing could impact fire
protection and detection system. It may also induce dormant failure
on LPV preventing its closure leading to a permanent and
uncontrolled fire (in case of fire ignited upstream the High
Pressure Valve (HPV)).
* * * * *

    We are issuing this AD to require actions to correct the unsafe
condition on these products.

DATES: This AD becomes effective November 29, 2011.

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

FOR FURTHER INFORMATION CONTACT: Dan Rodina, Aerospace Engineer,
International Branch, ANM-116, Transport Airplane Directorate, FAA,
1601 Lind Avenue, SW., Renton, Washington 98057-3356; telephone (425)
227-2125; fax<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Discussion

    We issued a notice of proposed rulemaking (NPRM) to amend 14 CFR
part 39 to include an AD that would apply to the specified products.
That NPRM was published in the Federal Register on March 22, 2011 (76
FR 15870). That NPRM proposed to correct an unsafe condition for the
specified products. The European Aviation Safety Agency (EASA), which
is the Technical Agent for the Member States of the European Community,
has issued revised parallel mandatory continuing airworthiness
information (MCAI) AD 2010-0178R1, dated May 20, 2011. The revised MCAI
states:

    An operator reported several cases of wire damages at the pylon/
wing interface. Analysis revealed that wires damages are due to
installation quality issue resulting from lack of information in
installation drawings and job cards.
    Moreover detailed analysis has highlighted that the Low Pressure
Valve (LPV) wires were not segregated by design.
    Due to design similarities, A310, A300-600 and A300-600ST
aeroplanes can be affected, depending on the wires installation in
the concerned area.
    If left uncorrected, the wire chafing could impact fire
protection and detection system. It may also induce dormant failure
on LPV preventing its closure leading to a permanent and
uncontrolled fire (in case of fire ignited upstream the High
Pressure Valve (HPV)).
    For the reasons explained above, this AD requires the
modification of the electrical installation in the pylon/wing
interface to avoid wire damages.
    Shortly after this [EASA] AD was issued, it was discovered that
Airbus Service Bulletin (SB) A310-24-2106, associated to Airbus
modification 13541, contained wrong Low Pressure Valve installation
drawings. This makes it impossible for the operators to accomplish
the SB instructions. Consequently, Airbus have revised the SB to
correct the error.
    Revision 1 of this [EASA] AD is issued to require modification
13541 to be incorporated in accordance with the instructions of
Airbus SB A310-24-2106 at Revision 1.

    The modification includes a general visual inspection of wires for
damage, and repair if necessary. You may obtain further information by
examining the MCAI in the AD docket.

Comments

    We gave the public the opportunity to participate in developing
this AD. We considered the comment received.

Request To Change Compliance Time

    UPS stated that it agreed with the actions proposed in the NPRM (76
FR 15870, March 22, 2011); however, it requested that the 30-month
compliance time be extended to 36 months. UPS stated that extending the
compliance time to 36 months would reduce the potential for special
maintenance visits for unmodified airplanes. UPS stated that the
additional 6 months would reduce potential operator hardship and allow
for a timely correction of the unsafe condition. UPS also stated that,
in accordance with EASA Airworthiness Directive 2010-0178, dated August
23, 2010; Airbus Mandatory Service Bulletin A300-24-6106, dated March
31, 2010; and Airbus Mandatory Service Bulletin A310-24-2106, dated May
27, 2010; the original wire damage was a result of installation defects
during production, and the issues related to wiring segregation,
conduit installation, and improved clamping and lacing were all
identified by Airbus during the two-year investigation process. UPS
stated that these design improvements are not related to the correction
of the installation defects, and they are not

critical airworthiness concerns, thus justifying a longer compliance
period.
    We disagree with extending the compliance time. In developing an
appropriate compliance time, we considered the safety implications and
normal maintenance schedules for timely accomplishment of the
modification. The FAA considered the potential repercussion of wire
chafing and the fact that some failures are hidden. In particular,
there may be some dormant failures on the LPV preventing its closure in
case of fire upstream the HPVs. Accomplishment of the service bulletins
will correct the electrical installation if there are any defects,
avoiding further damages at the pylon/wing interface. Affected
operators, however, may request an extension of the compliance time
under the provisions of paragraph (h)(1) of this AD by submitting data
substantiating that the change would provide an acceptable level of
safety.

Revised Service Information

    Since the NPRM (76 FR 15870, March 22, 2011) has been issued, EASA
has issued Airworthiness Directive 2010-0178R1, dated May 20, 2011. We
have received a report that Airbus Mandatory Service Bulletin A310-24-
2106, dated May 27, 2010, associated with Airbus Modification 13541,
contained the wrong installation drawings of the LPV. This made it
impossible for operators to accomplish the instructions in that service
bulletin. Airbus has issued Mandatory Service Bulletin A310-24-2106,
Revision 01, including Appendix 01, dated April 4, 2011, to address the
error. We have revised paragraph (g) of this AD accordingly to reflect
the new service information.

Conclusion

    We reviewed the available data, including the comment received, and
determined that air safety and the public interest require adopting the
AD with the change described previously. We determined that this change
will not increase the economic burden on any operator or increase the
scope of the AD.

Differences Between This AD and the MCAI or Service Information

    We have reviewed the MCAI and related service information and, in
general, agree with their substance. But we might have found it
necessary to use different words from those in the MCAI to ensure the
AD is clear for U.S. operators and is enforceable. In making these
changes, we do not intend to differ substantively from the information
provided in the MCAI and related service information.
    We might also have required different actions in this AD from those
in the MCAI in order to follow our FAA policies. Any such differences
are highlighted in a NOTE within the AD.

Revised Costs of Compliance

    Since the NPRM (76 FR 15870, March 22, 2011) was issued, Airbus has
issued Mandatory Service Bulletin A310-24-2106, Revision 01, including
Appendix 01, dated April 4, 2011, which updated the cost for required
parts to $1,340 per product. We have revised the Costs of Compliance
section of this AD accordingly to reflect the new parts cost.

Costs of Compliance

    We estimate that this AD will affect 185 products of U.S. registry.
We also estimate that it will take about 16 work-hours per product to
comply with the basic requirements of this AD. The average labor rate
is $85 per work-hour. Required parts will cost up to $1,340 per
product. Where the service information lists required parts costs that
are covered under warranty, we have assumed that there will be no
charge for these parts. As we do not control warranty coverage for
affected parties, some parties may incur costs higher than estimated
here. Based on these figures, we estimate the cost of this AD to the
U.S. operators to be up to $499,500, or $2,700 per product.

Authority for This Rulemaking

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

Regulatory Findings

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

Examining the AD Docket

    You may examine the AD docket on the Internet at http://
www.regulations.gov; or in person at the Docket Operations office
between 9 a.m. and 5 p.m., Monday through Friday, except Federal
holidays. The AD docket contains the NPRM (76 FR 15870, March 22,
2011), the regulatory evaluation, any comments received, and other
information. The street address for the Docket Operations office
(telephone<PHONE_NUMBER>) is in the ADDRESSES section. Comments will
be available in the AD docket shortly after receipt.

List of Subjects in 14 CFR Part 39

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

Adoption of the Amendment

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

PART 39--AIRWORTHINESS DIRECTIVES

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

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

Sec.  39.13  [Amended]

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

2011-22-02 Airbus: Amendment 39-16844. Docket No. FAA-2011-0255;
Directorate Identifier 2010-NM-253-AD.

Effective Date

    (a) This airworthiness directive (AD) becomes effective November
29, 2011.

Affected ADs

    (b) None.

Applicability

    (c) This AD applies to all Airbus Model A300 B4-601, B4-603, B4-
620, and B4-622

airplanes; Model A300 B4-605R and B4-622R airplanes; Model A300 F4-
605R and F4-622R airplanes; Model A300 C4-605R Variant F airplanes;
and Model A310-203, -204, -221, -222, -304, -322, -324, and -325
airplanes; certificated in any category.

Subject

    (d) Air Transport Association (ATA) of America Code 24:
Electrical Power.

Reason

    (e) The mandatory continuing airworthiness information (MCAI)
states:

    An operator reported several cases of wire damages at the pylon/
wing interface. Analysis revealed that wires damages are due to
installation quality issue resulting from lack of information in
installation drawings and job cards.
    Moreover detailed analysis has highlighted that the Low Pressure
Valve (LPV) wires were not segregated by design.
* * * * *
    If left uncorrected, the wire chafing could impact fire
protection and detection system. It may also induce dormant failure
on LPV preventing its closure leading to a permanent and
uncontrolled fire (in case of fire ignited upstream the High
Pressure Valve (HPV)).
* * * * *

Compliance

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

Actions

    (g) Within 30 months or 4,000 flight hours after the effective
date of this AD, whichever occurs first: Modify the electrical
installation in the pylon/wing interface on the left-hand and right-
hand side by doing a general visual inspection of wires for damage
and doing all applicable repairs, replace the cable tie with lacing
tape, improve the electrical installation at the level of the
electrical ramp, and improve the segregation of both routes of the
LPV channels 1 and 2 between LPV connector and ramp; in accordance
with the Accomplishment Instructions of Airbus Mandatory Service
Bulletin A300-24-6106, excluding Appendix 01, dated March 31, 2010
(for Airbus Model A300 B4-600, B4-600R, and F4-600R series
airplanes, and Model C4-605R Variant F airplanes); or Airbus
Mandatory Service Bulletin A310-24-2106, Revision 01, including
Appendix 01, dated April 4, 2011 (for Airbus Model A310 series
airplanes). Do all applicable repairs before further flight.

FAA AD Differences

    Note 1: This AD differs from the MCAI and/or service information
as follows: No differences.

Other FAA AD Provisions

    (h) The following provisions also apply to this AD:
    (1) Alternative Methods of Compliance (AMOCs): The Manager,
International Branch, ANM-116, FAA, has the authority to approve
AMOCs for this AD, if requested using the procedures found in 14 CFR
39.19. In accordance with 14 CFR 39.19, send your request to your
principal inspector or local Flight Standards District Office, as
appropriate. If sending information directly to the International
Branch, send it to ATTN: Dan Rodina, Aerospace Engineer,
International Branch, ANM-116, Transport Airplane Directorate, FAA,
1601 Lind Avenue, SW., Renton, Washington 98057-3356; telephone
(425) 227-2125; fax<PHONE_NUMBER>. Information may be e-mailed to:
<EMAIL_ADDRESS>Before using any approved AMOC,
notify your appropriate principal inspector, or lacking a principal
inspector, the manager of the local flight standards district
office/certificate holding district office. The AMOC approval letter
must specifically reference this AD.
    (2) Airworthy Product: For any requirement in this AD to obtain
corrective actions from a manufacturer or other source, use these
actions if they are FAA-approved. Corrective actions are considered
FAA-approved if they are approved by the State of Design Authority
(or their delegated agent). You are required to assure the product
is airworthy before it is returned to service.

Related Information

    (i) Refer to MCAI European Aviation Safety Agency Airworthiness
Directive 2010-0178R1, excluding Appendix 01, dated May 20, 2011;
Airbus Mandatory Service Bulletin A300-24-6106, dated March 31,
2010; and Airbus Mandatory Service Bulletin A310-24-2106, Revision
01, including Appendix 01, dated April 4, 2011; for related
information.

Material Incorporated by Reference

    (j) You must use Airbus Mandatory Service Bulletin A300-24-6106,
excluding Appendix 01, dated March 31, 2010; or Airbus Mandatory
Service Bulletin A310-24-2106, Revision 01, including Appendix 01,
dated April 4, 2011; as applicable; to do the actions required by
this AD, unless the AD specifies otherwise.
    (1) The Director of the Federal Register approved the
incorporation by reference of this service information under 5
U.S.C. 552(a) and 1 CFR part 51.
    (2) For service information identified in this AD, contact
Airbus SAS--EAW (Airworthiness Office), 1 Rond Point Maurice
Bellonte, 31707 Blagnac Cedex, France; telephone +33 5 61 93 36 96;
fax +33 5 61 93 44 51; e-mail<EMAIL_ADDRESS>
Internet http://www.airbus.com.
    (3) You may review copies of the service information at the FAA,
Transport Airplane Directorate, 1601 Lind Avenue, SW., Renton,
Washington. For information on the availability of this material at
the FAA, call<PHONE_NUMBER>.
    (4) You may also review copies of the service information that
is incorporated by reference at the National Archives and Records
Administration (NARA). For information on the availability of this
material at NARA, call<PHONE_NUMBER>, or go to: http://
www.archives.gov/federal_register/code_of_federal_regulations/
ibr_locations.html.

    Issued in Renton, Washington, on October 11, 2011.
Ali Bahrami,
Manager, Transport Airplane Directorate, Aircraft Certification
Service.
[FR Doc. 2011-27005 Filed 10-24-11; 8:45 am]
BILLING CODE 4910-13-P


 1 United States Prevention, Pesticides September 9, 2004 Environmental Protection and Toxic Substances Agency ( 7508C)

Report of the Food Quality Protection Act ( FQPA) Tolerance Reassessment Progress and Risk Management Decision ( TRED) for Flumetsulam 2 UNITED STATES ENVIRONMENTAL PROTECTION AGENCY WASHINGTON, D. C. 20460 OFFICE OF PREVENTION, PESTICIDES AND TOXIC SUBSTANCES CERTIFIED MAIL Dear Registrant:

This is the Environmental Protection Agency's ( hereafter referred to as EPA or the Agency) " Report of the Food Quality Protection Act ( FQPA) Tolerance Reassessment Progress and Risk Management Decision for Flumetsulam," which was approved on September 16, 2004. This document is also known as a Tolerance Reassessment Decision, or TRED. A Notice of Availability of this tolerance reassessment decision will be published shortly.

The Federal Food, Drug and Cosmetic Act ( FFDCA), as amended by FQPA, requires EPA to reassess all the tolerances for registered chemicals in effect on or before the enactment of the FQPA on August 3, 1996. In reassessing these tolerances, the Agency must consider, among other things, aggregate risks from non occupational sources of pesticide exposure, whether there is increased susceptibility to infants and children, and the cumulative effects of pesticides with a common mechanism of toxicity. Once a safety finding has been made, the tolerances are considered reassessed. Existing tolerances and exemptions associated with flumetsulam must be reassessed in accordance with FFDCA, as amended by FQPA.

The Agency has evaluated all current registered uses of flumetsulam and has determined that there is a reasonable certainty that no harm to any population subgroup will result from exposure to flumetsulam when considering dietary exposure and all other non occupational sources of pesticide exposure for which there is reliable information. Therefore, no mitigation measures are needed, and the current tolerances at 40 CFR 180.468 for flumetsulam used on field corn ( forage, stover, and grain) and soybean are now considered reassessed under section 408( q) of the FFDCA. The tolerances for the four commodities has been determined to remain at 0.05 ppm.

Flumetsulam is a herbicide registered for use on soybeans and field corn and belongs to the triazolopyrimidine chemical class. Flumetsulam can be applied pre plant, pre emergence, or postemergence to control broadleaf weeds and may be applied alone or in formulation with other active ingredients. The maximum application rate for flumetsulam is 0.07 lb a. i/ acre with a minimum preharvest interval range of 70 to 85 days. The highest usage of flumetsulam is on corn and approximately 12,000 pounds are used annually. An additional new use petition for dry beans has been submitted to the Agency. This use has been included in the risk assessment and is awaiting further action by the Registration Division. 3 Flumetsulam is in Toxicity Category III or IV for acute oral, dermal, and inhalation exposure and for dermal and ocular irritation, and is not a dermal sensitizer. There was no indication of reproductive, neurotoxicant, or carcinogenic effects from flumetsulam in the reviewed studies.

There are no studies that identify an acute hazard based on toxic effects observed following a single oral dose. No effects in the developmental toxicity studies in the rabbit or rat were attributed from a single oral exposure during gestation. Therefore, a dose and endpoint are not proposed for the general population including infants and children or females 13 49 years of age.

The chronic feeding study conducted with dogs supports the toxicity endpoint for chronic dietary exposure. The No Observed Adverse Effect Level ( NOAEL) is 100/ 500 mg/ kg/ day and the Lowest Observed Adverse Effect Level ( LOAEL) is 500/ not identified mg/ kg/ day. An uncertainty factor of 100 ( 10X for interspecies extrapolation and 10X for intraspecies variability) was applied to the chronic toxicity endpoint. The chronic reference dose for flumetsulam is 1.0 mg/ kg/ day. Dietary risk assessments incorporate both exposure and toxicity of a given pesticide. For chronic assessments, the risk is expressed as a percentage of a maximum acceptable dose. This dose is referred to as the population adjusted dose ( PAD). The PAD is equivalent to the reference dose divided by the special Food Quality Protection Act ( FQPA) Safety Factor. The toxicology database for flumetsulam is adequate for FQPA considerations. Based on the hazard data, the Agency recommended that the special FQPA Safety Factor be reduced to 1X because there are low concerns, and no residential uncertainties with regard to pre and/ or post natal toxicity.

A conservative dietary ( food and water) risk assessment concluded that for all supported commodities ( including proposed use on dry bean), the chronic dietary exposure estimates are below the Agency's level of concern for all population subgroups at less than 1% of the chronic PAD. The Agency is, therefore, not concerned with any risk resulting from exposure to flumetsulam.

FQPA requires that EPA consider " available information" concerning the cumulative effects of a particular pesticide's residues and " other substances that have a common mechanism of toxicity." The Agency considers other substances because low level exposures to multiple chemical substances that cause a common toxic effect by a common mechanism could lead to the same adverse health effect, as would a higher level of exposure to any of the other substances individually.

Unlike other pesticides for which EPA has followed a cumulative risk approach based on a common mechanism of toxicity, EPA has not made a common mechanism of toxicity finding as to flumetsulam and any other substances and flumetsulam does not appear to produce a toxic metabolite produced by other substances. For the purposes of this tolerance action, therefore, EPA has not assumed that flumetsulam has a common mechanism of toxicity with other substances. For information regarding EPA's efforts to determine which chemicals have a common mechanism of toxicity and to evaluate the cumulative effects of such chemicals, see the policy statements released by EPA's Office of Pesticide Programs concerning common mechanism determinations and procedures for cumulating effects from substances found to have a common mechanism on EPA's website at 4 http:// www. epa. gov/ pesticides/ cumulative/.

Based on currently available data, flumetsulam does not appear to be an endocrine disruptor. However, when the appropriate screening and/ or testing protocols being considered under the Agency's Endocrine Disruptor Screening Program have been developed, flumetsulam may be subjected to additional screening and/ or testing to better characterize effects related to endocrine disruption.

This document summarizes the Agency's decision on the tolerance reassessment for flumetsulam. Please contact Mika J. Hunter of my staff with any questions regarding this decision. She may be reached by phone at ( 703) 308 0041 or by e mail at hunter. mika@ epa. gov.

Sincerely,

Debra Edwards, Ph. D. Director Special Review and Reregistration Division cc: Lois Rossi, Registration Divison Enclosures: Flumetsulam: HED Risk Assessment for the Tolerance Reassessment Eligibility Document ( TRED), dated August 31, 2004, Flumetsulam. Chronic Dietary Exposure Assessment for the Tolerance Reassessment Eligibility Document, dated August 31, 2004, Flumetsulam. Summary of Analytical Chemistry and Residue Data for the Tolerance Reassessment Eligibility Decision, dated August 31, 2004, Drinking Water Assessment for Flumetsulam for Uses on Field Corn and Soybeans, dated May 19, 2004. 5


[Federal Register Volume 81, Number 207 (Wednesday, October 26, 2016)]
[Notices]
[Page 74415]
[FR Doc No: 2016-25838]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 14726-001]

Pyramid Lake Paiute Tribe; Notice of Intent To File License
Application, Filing of Pre-Application Document, Approving Use of the
Traditional Licensing Process

    a. Type of Filing: Notice of Intent to a File License Application
and Request To Use the Traditional Licensing Process.
    b. Project No.: 14726-001.
    c. Date Filed: August 29, 2016.
    d. Submitted By: Pyramid Lake Paiute Tribe.
    e. Name of Project: Prosser Creek Hydroelectric Project.
    f. Location: The project would be constructed at the existing
Prosser Creek Dam owned and operated by the U.S. Bureau of Reclamation
in Nevada County, California. The project would occupy 4.03 acres of
federal land administered by U.S. Forest Service, Tahoe National
Forest.
    g. Filed Pursuant to: 18 CFR 5.3 of the Commission's regulations.
    h. Potential Applicant Contact: Donna Noel, Director of Natural
Resources, Pyramid Lake Paiute Tribe, P.O. Box 256, Nixon, Nevada
89424;<PHONE_NUMBER><EMAIL_ADDRESS>    i. FERC Contact: Quinn Emmering at<PHONE_NUMBER>; or email at
<EMAIL_ADDRESS>    j. The Pyramid Lake Paiute Tribe filed its request to use the
Traditional Licensing Process on August 29, 2016. The Pyramid Lake
Paiute Tribe provided public notice of its request on August 26, 2016.
In a letter dated October 20, 2016, the Director of the Division of
Hydropower Licensing approved the Pyramid Lake Paiute Tribe's request
to use the Traditional Licensing Process.
    k. With this notice, we are initiating informal consultation with
the U.S. Fish and Wildlife Service and NOAA Fisheries under section 7
of the Endangered Species Act and the joint agency regulations
thereunder at 50 CFR, Part 402; and NOAA Fisheries under section 305(b)
of the Magnuson-Stevens Fishery Conservation and Management Act and
implementing regulations at 50 CFR 600.920. We are also initiating
consultation with the California State Historic Preservation Officer,
as required by section 106, National Historic Preservation Act, and the
implementing regulations of the Advisory Council on Historic
Preservation at 36 CFR 800.2.
    l. With this notice, we are designating the Pyramid Lake Paiute
Tribe as the Commission's non-federal representative for carrying out
informal consultation pursuant to section 7 of the Endangered Species
Act and section 305(b) of the Magnuson-Stevens Fishery Conservation and
Management Act; and consultation pursuant to section 106 of the
National Historic Preservation Act.
    m. The Pyramid Lake Paiute Tribe filed a Pre-Application Document
(PAD; including a proposed process plan and schedule) with the
Commission, pursuant to 18 CFR 5.6 of the Commission's regulations.
    n. A copy of the PAD is available for review at the Commission in
the Public Reference Room or may be viewed on the Commission's Web site
(http://www.ferc.gov), using the ``eLibrary'' link. Enter the docket
number, excluding the last three digits in the docket number field to
access the document. For assistance, contact FERC Online Support at
<EMAIL_ADDRESS>(866) 208-3676 (toll free), or (202) 502-
8659 (TTY). A copy is also available for inspection and reproduction at
the address in paragraph h.
    o. Register online at http://www.ferc.gov/docs-filing/esubscription.asp to be notified via email of new filing and issuances
related to this or other pending projects. For assistance, contact FERC
Online Support.

    Dated: October 20, 2016.
Kimberly D. Bose,
Secretary.
[FR Doc. 2016-25838 Filed 10-25-16; 8:45 am]
 BILLING CODE 6717-01-P


[Federal Register Volume 77, Number 228 (Tuesday, November 27, 2012)]
[Notices]
[Pages 70855-70857]
[FR Doc No: 2012-28742]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-68274; File No. SR-MSRB-2012-09]

Self-Regulatory Organizations; Municipal Securities Rulemaking
Board; Notice of Filing and Immediate Effectiveness of Revisions to the
Study Outline for the Municipal Securities Principal Qualification
Examination (Series 53)

November 20, 2012.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``the Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on November 16, 2012, the Municipal Securities Rulemaking Board
(``MSRB'' or ``Board'') 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 MSRB.
The MSRB has designated the proposed rule change as constituting a
stated policy, practice, or interpretation with respect to the meaning,
administration, or enforcement of an existing rule of the self-
regulatory organization pursuant to Section 19(b)(3)(A)(i) \3\ of the
Act and Rule 19b-4(f)(1) thereunder,\4\ which renders the proposal
effective upon filing with the Commission. The implementation date of
the proposed rule change, as well as the effective date of the revised
study outline, will be December 22, 2012. The Commission is publishing
this notice to solicit comments on the proposed rule change from
interested persons.
---------------------------------------------------------------------------

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

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

    The MSRB is filing with the Commission revisions to the study
outline for the Municipal Securities Principal Qualification
Examination (Series 53).
    The text of the proposed rule change is available on the MSRB's Web
site at www.msrb.org/Rules-and-Interpretations/SEC-Filings/2012-Filings.aspx, at the MSRB's principal office, and at the Commission's
Public Reference Room.

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

    In its filing with the Commission, the MSRB included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. The MSRB 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
    Section 15B(b)(2)(A) of the Act \5\ authorizes the MSRB to
prescribe standards of training, experience, competence, and such other
qualifications as the Board finds necessary or appropriate in the
public interest or for the protection of investors, municipal entities,
or obligated persons. The MSRB has developed examinations that are
designed to establish that persons associated with brokers, dealers,
and municipal securities dealers that effect transactions in municipal
securities and those who supervise such persons have attained specified
levels of competence and knowledge. The MSRB periodically reviews the
content of the examinations to determine whether revisions are
necessary or appropriate in view of changes pertaining to the subject
matter covered by the examinations.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78o-4(b)(2)(A).
---------------------------------------------------------------------------

    MSRB Rule G-3(b) states that a municipal securities principal has
responsibility to oversee the municipal securities activities of a
broker, dealer, or municipal securities dealer. In this capacity, a
municipal securities principal manages, directs, or supervises one or
more of the following activities associated with the conduct of
municipal securities business: underwriting; trading; buying or selling
municipal securities to or from customers; rendering financial advisory
or consultant services to issuers of municipal securities;
communications to customers about any municipal securities activities;
processing, clearing, and (in the case of securities firms) safekeeping
of municipal securities; maintenance of records with respect to
municipal securities activities; and training of municipal securities
principals and municipal securities representatives. The only
examination that qualifies a municipal securities principal is the
Municipal Securities Principal Qualification Examination (Series 53).
    The Series 53 examination is designed to determine whether an
individual meets the Board's qualification standards for municipal
securities principals. To do this, the examination measures a
candidate's knowledge of Board rules, rule interpretations, and federal
statutory provisions applicable to municipal securities activities. It
also measures an individual's ability to apply these rules and
interpretations to given fact situations. The examination consists of
100 multiple-choice questions. Each question is worth one point, and
the passing grade is 70%. Candidates are allowed three and one-half
hours for each testing session.
    The study outline serves as a guide to the subject matter tested by
the Series 53 examination. It lists the topics covered by the
examination, and provides learning objectives associated with those
topics that are intended to assist candidates preparing for the
examination. The outline also provides sample questions similar to the
type used in the examination. The arrangement of the subject matter in
the study outline reflects the various aspects of municipal securities
activity within a securities firm or bank dealer and the tasks of a
municipal securities principal in supervising such activities.
Reference is made to the appropriate MSRB rule or federal regulation
which governs each task.
    In order to assist candidates preparing for the Series 53
examination, the study outline has been updated to remove rescinded
rules and include amendments and additions to MSRB

rules that have been promulgated since the last revision of the study
outline.\6\ The descriptions for some rules listed have been changed
accordingly. The changes are technical in nature and will not change
the specifications for the examination. The MSRB will announce the
December 22, 2012 implementation date of the revised study outline in a
notice to be published at least 30 days prior to such implementation
date.
---------------------------------------------------------------------------

    \6\ See Release No. 34-54141, File No. SR-MSRB-2006-05 (June 27,
2006).
---------------------------------------------------------------------------

    A summary of the changes to the study outline for the Series 53
examination, detailed by major topic headings, is provided below.
Changes are stated as revisions to the current outline.
Introduction
     Fn. 1: References to ``NASD'' are changed to ``FINRA;''
FINRA URL is corrected.
Part Two--General Supervision
Definitional Rules
     ``Municipal advisory activities, D-13'' is added.
Qualification and Registration
     ``Name or address'' is added to the description for Rule
A-15.
     ``Preservation'' is added to the description For Rules G-
7; G-9; and Exchange Act Rule 17a-4.
     ``Municipal securities sales limited representatives'' is
added to the description of Rule G-3(a)(i) and (ii) to reflect
amendment to the rule.
Supervisory Responsibilities
     Rule citation for ``Written record of designations'' is
changed to ``G-27(b)(ii)(B)'' to reflect amendment to the rule.
     Rule citation for ``Appropriate principal'' is changed to
``G-27(b)(ii)(C)'' to reflect amendment to the rule.
     Topic heading and rule citation is changed to ``Duty to
establish, maintain and enforce supervisory control policies and
written procedures'' to reflect amendment to the rule.
Conduct of Business
     ``Definitions; general standard for advertisements'' is
added to the description for Rule G-21(a).
     ``Product'' is added to the topic description for Rule G-
21(e).
Part Three--Sales Supervision
Opening Customer Accounts
     Rule citation for ``Review and approval by a principal''
is changed to ``G-27(c)(i)(G)(1)'' to reflect amendment to the rule.
Communications With Customers
     Rule citation for ``Review and retention of
correspondence'' is changed to ``G-27(e)'' to reflect amendment to the
rule.
Discretionary Accounts
     Rule citation for ``Written supervisory procedures'' is
changed to ``G-27 (c)(i)'' to reflect amendment to the rule.
Part Four--Origination and Syndication
Financial Advisors
     Rule citation for ``applicability of state or local law''
is changed to G-23(f) to reflect amendment to the rule.
     ``Basis of compensation'' is deleted; ``Agreement with
respect to financial advisory relationship'' is added for the
description of Rule G-23(c). Changes reflect the amendment to the rule.
     The description of Rule G-23(d) is changed to
``Prohibition on engaging in underwriting activities'' in accordance
with the amendment to the rule.
     ``Disclosures to customers, G-23(h)'' is deleted in
accordance with the amendment to the rule.
     ``Disclosures to issuer of corporate affiliation, G-
23(f)'' is deleted in accordance with the amendment to the rule.
     ``Records concerning the activities of financial advisors,
G-23(g); G-9'' is deleted in accordance with the amendment to the rule.
     ``Responsibility to make official statement available'' is
changed to ``Preparation of official statement by financial advisors;''
rule citation is changed to ``G-32(c)'' in accordance with the
amendment to the rule.
New Issue Syndicate Practices
     ``Responsibility of managing underwriters and sole
underwriters'' is replaced with ``Underwriter submissions to EMMA;''
rule citation is changed to ``G-32(b)'' in accordance with amendments
to the rule.
     ``Delivery of official statements, advance refunding
documents, and Forms G-36(OS) and G-36(ARD) to the Board or its
designee; G-36'' is deleted. Rule was rescinded.
     Topic heading is changed to ``Records concerning primary
offerings'' in accordance with amendment to Rule G-8(a)(viii).
     Topic heading is changed to ``Records concerning
disclosures in connection with primary offerings pursuant to Rule G-
32'' in accordance with amendment to Rule G-8(a)(xiii).
     ``Records concerning delivery of official statements,
advance refunding documents and Forms G-36(OS) and G-36(ARD) to the
Board or its designee; G-8(a)(xv)'' is deleted. Topic is no longer
tested.
     ``Good faith deposits; G-12(i)'' is deleted. Rule was
rescinded.
     Rule citation for ``Settlement of syndicate or similar
account'' is changed to ``G-11(i)'' in accordance with the amendment to
the rule.
     Topic heading is changed to ``Payments of designations;''
rule citation changed to ``G-11(j)'' in accordance with the amendment
to the rule.
Part Five--Trading
Execution of Transactions
     Topic heading for Rule G-18 is changed to ``Transactions
as agent'' to reflect amendment to the rule.
     ``Broker's brokers; G-43'' is added.
Reports of Sales or Purchases
     Rule citation for ``Definitions'' is changed to ``G-14,
RTRS Procedures, Sect. (d)'' for clarification.
     Topic heading for Rule A-13(c) is changed to ``Transaction
and technology assessments'' in accordance with the amendment to the
rule.
Recordkeeping Responsibilities
     ``Records of secondary market trading account
transactions; G-8(a)(xxiv)'' is added.
     ``Broker's brokers activities; G-8(a)(xxv)'' is added.
     ``Records for alternative trading systems; G-8(a)(xxvi)''
is added.
Part Six--Operations
Books and Records
     ``Records concerning consultants; G-8(a)(xviii)'' is
deleted. No longer tested in the examination.
     ``Books and records maintained by transfer agents for
municipal fund securities transactions; G-8(g)(i)'' is added.
     Correct rule citation is added to ``Compliance with SEC
rules'' and ``Records to be made'' is deleted as a subtopic.
Sample Questions
    One sample question is deleted and a new sample question is added.
2. Statutory Basis
    The MSRB believes that the proposed rule change is consistent with
Section 15B(b)(2)(A) of the Act, which authorizes the MSRB to prescribe
standards of training, experience, competence, and such other

qualifications as the Board finds necessary or appropriate in the
public interest or for the protection of investors and municipal
entities or obligated persons. Section 15B(b)(2)(A) of the Act also
provides that the Board may appropriately classify municipal securities
brokers, municipal securities dealers, and municipal advisors and
persons associated with municipal securities brokers, municipal
securities dealers, and municipal advisors and require persons in any
such class to pass tests prescribed by the Board.
    The MSRB believes that the proposed revisions to the study outline
for the Series 53 examination are consistent with the provisions of
Section 15B(b)(2)(A) of the Act in that the revisions will ensure that
certain key concepts or rules are tested on each administration of the
examination in order to test the competency of individuals seeking to
qualify as municipal securities principals with respect to their
knowledge of MSRB rules and the municipal securities market.

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

    The MSRB 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, as amended. The MSRB believes
that the proposed rule change will provide benefits to persons seeking
to become qualified as a municipal securities principal by promoting
more efficient and effective preparation for such qualification without
imposing any additional burdens.

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 on the
proposed rule change.

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

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

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-MSRB-2012-09 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-MSRB-2012-09. 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 Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549 on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of such filing also will be available
for inspection and copying at the principal office of the MSRB. 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-MSRB-2012-09, and should be
submitted on or before December 18, 2012.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-28742 Filed 11-26-12; 8:45 am]
BILLING CODE 8011-01-P