[Federal Register: April 15, 2008 (Volume 73, Number 73)]
[Notices]
[Page 20270-20271]
[DOCID:fr15ap08-57]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 13111-000]

Dan River Hydropower, LLC; Notice of Application Accepted for
Filing and Soliciting Motions To Intervene, Protests, and Comments

April 8, 2008
    Take notice that the following hydroelectric application has been
filed with the Commission and is available for public inspection:
    a. Type of Application: Preliminary Permit.
    b. Project No.: 13111-000.
    c. Date filed: February 11, 2008.
    d. Applicant: Dan River Hydropower, LLC.
    e. Name of Project: Dan River Project.
    f. Location: On the Dan River, in Rockingham County, North
Carolina. The Dam is own by Duke Energy Corporation.
    g. Filed Pursuant to: Federal Power Act, 16 U.S.C. 791(a)-825(r).
    h. Applicant Contact: Kevin Edwards, Dan River Hydropower, LLC,
P.O. Box 143, Mayodan, NC 27027,<PHONE_NUMBER>.
    i. FERC Contact: Robert Bell,<PHONE_NUMBER>.
    j. Deadline for filing comments, protests, and motions to
intervene: 60 days from the issuance date of this notice.
    All documents (original and eight copies) should be filed with:
Kimberly D. Bose, Secretary, Federal Energy Regulatory Commission, 888
First Street, NE., Washington, DC 20426. Comments, protests, and
interventions may be filed electronically via the Internet in lieu of
paper; see 18 CFR 385.2001(a)(1)(iii) and the instructions on the
Commission's Web site under the ``e-Filing'' link. The Commission
strongly encourages electronic filings. Please include the project
number (P-13111-000) on any comments or motions filed.
    The Commission's Rules of Practice and Procedure require all
intervenors filing documents with the Commission to serve a copy of
that document on each person in the official service list for the
project. Further, if an intervenor files comments or documents with the
Commission relating to the merits of an issue that may affect the
responsibilities of a particular resource agency, they must also serve
a copy of the document on that resource agency.
    k. Description of Project: The proposed project would consist of:
(1) An existing 350-foot-long, 11-foot-high Steam Station Dam, (2) an
existing impoundment having a surface area of 108 acres, with a storage
capacity of 54 acre-feet and normal water surface elevation of 496.0
feet mean sea level, (3) a proposed power house containing three
generating units having a total installed capacity of 1,200 kilowatts,
(4) a proposed 4,000-foot-long, 12 kilovolt transmission line, and (5)
appurtenant facilities. The proposed project would have an estimated
average annual generation of 6.5 gigawatt-hours, which would be sold to
a local utility.
    l. Location of Application: This filing is available for review at
the Commission in the Public Reference Room or may be viewed on the
Commission's Web site at 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, call toll-
free 1-866-208-3676 or e-mail<EMAIL_ADDRESS>For TTY, call
(202) 502-8659. A copy is also available for inspection and
reproduction at the address in item h above.
    m. Individuals desiring to be included on the Commission's mailing
list should

so indicate by writing to the Secretary of the Commission.
    n. Competing Preliminary Permit--Anyone desiring to file a
competing application for preliminary permit for a proposed project
must submit the competing application itself, or a notice of intent to
file such an application, to the Commission on or before the specified
comment date for the particular application (see 18 CFR 4.36).
Submission of a timely notice of intent allows an interested person to
file the competing preliminary permit application no later than 30 days
after the specified comment date for the particular application. A
competing preliminary permit application must conform with 18 CFR
4.30(b) and 4.36.
    o. Competing Development Application--Any qualified development
applicant desiring to file a competing development application must
submit to the Commission, on or before a specified comment date for the
particular application, either a competing development application or a
notice of intent to file such an application. Submission of a timely
notice of intent to file a development application allows an interested
person to file the competing application no later than 120 days after
the specified comment date for the particular application. A competing
license application must conform with 18 CFR 4.30(b) and 4.36.
    p. Notice of Intent--A notice of intent must specify the exact
name, business address, and telephone number of the prospective
applicant, and must include an unequivocal statement of intent to
submit, if such an application may be filed, either a preliminary
permit application or a development application (specify which type of
application). A notice of intent must be served on the applicant(s)
named in this public notice.
    q. Proposed Scope of Studies Under Permit--A preliminary permit, if
issued, does not authorize construction. The term of the proposed
preliminary permit would be 36 months. The work proposed under the
preliminary permit would include economic analysis, preparation of
preliminary engineering plans, and a study of environmental impacts.
Based on the results of these studies, the Applicant would decide
whether to proceed with the preparation of a development application to
construct and operate the project.
    r. Comments, Protests, or Motions To Intervene--Anyone may submit
comments, a protest, or a motion to intervene in accordance with the
requirements of Rules of Practice and Procedure, 18 CFR 385.210, .211,
.214. In determining the appropriate action to take, the Commission
will consider all protests or other comments filed, but only those who
file a motion to intervene in accordance with the Commission's Rules
may become a party to the proceeding. Any comments, protests, or
motions to intervene must be received on or before the specified
comment date for the particular application.
    s. Filing and Service of Responsive Documents--Any filings must
bear in all capital letters the title ``COMMENTS'', ``NOTICE OF INTENT
TO FILE COMPETING APPLICATION'', ``COMPETING APPLICATION'',
``PROTEST'', and ``MOTION TO INTERVENE'', as applicable, and the
Project Number of the particular application to which the filing
refers. Any of the above-named documents must be filed by providing the
original and the number of copies provided by the Commission's
regulations to: The Secretary, Federal Energy Regulatory Commission,
888 First Street, NE., Washington, DC 20426. An additional copy must be
sent to Director, Division of Hydropower Administration and Compliance,
Federal Energy Regulatory Commission, at the above-mentioned address. A
copy of any notice of intent, competing application or motion to
intervene must also be served upon each representative of the Applicant
specified in the particular application.
    t. Agency Comments--Federal, state, and local agencies are invited
to file comments on the described application. A copy of the
application may be obtained by agencies directly from the Applicant. If
an agency does not file comments within the time specified for filing
comments, it will be presumed to have no comments. One copy of an
agency's comments must also be sent to the Applicant's representatives.

Kimberly D. Bose,
Secretary.
[FR Doc. E8-7924 Filed 4-14-08; 8:45 am]

BILLING CODE 6717-01-P


[Federal Register Volume 82, Number 130 (Monday, July 10, 2017)]
[Proposed Rules]
[Pages 31739-31741]
[FR Doc No: 2017-14397]

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ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 52

[EPA-R04-OAR-2016-0362; FRL-9964-66-Region 4]

Air Plan Approval; North Carolina Miscellaneous Rules

AGENCY: Environmental Protection Agency (EPA).

ACTION: Proposed rule.

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SUMMARY: The Environmental Protection Agency (EPA) is proposing to
approve several changes to the North Carolina State Implementation Plan
(SIP) submitted by the State of North Carolina, through the North
Carolina Department of Environmental Quality (NCDEQ), on December 14,
2004 and March 1, 2016. The March 1, 2016, submission adds a new rule
to the ``Exclusionary Rules'' of the North Carolina SIP, and the
portion of the December 14, 2004, submission EPA is proposing to
approve adds two new rules under a new section called ``Permit
Exemptions.'' This action is being taken pursuant to the Clean Air Act
(CAA or Act).

DATES: Comments must be received on or before August 9, 2017.

ADDRESSES: Submit your comments, identified by Docket ID No. EPA-R04-
OAR-2016-0362 at https://www.regulations.gov. Follow the online
instructions for submitting comments. Once submitted, comments cannot
be edited or removed from Regulations.gov. EPA may publish any comment
received to its public docket. Do not submit electronically any
information you consider to be Confidential Business Information (CBI)
or other information whose disclosure is restricted by statute.
Multimedia submissions (audio, video, etc.) must be accompanied by a
written comment. The written comment is considered the official comment
and should include discussion of all points you wish to make. EPA will
generally not consider comments or comment contents located outside of
the primary submission (i.e., on the web, cloud, or other file sharing
system). For additional submission methods, the full EPA public comment
policy, information about CBI or multimedia submissions, and general
guidance on making effective comments, please visit https://www2.epa.gov/dockets/commenting-epa-dockets.

FOR FURTHER INFORMATION CONTACT: Sean Lakeman, Air Regulatory
Management Section, Air Planning and Implementation Branch, Air,
Pesticides and Toxics Management Division, U.S. Environmental
Protection Agency, Region 4, 61 Forsyth Street SW., Atlanta, Georgia
30303-8960. The telephone number is<PHONE_NUMBER>. Mr. Lakeman can
also be reached via electronic mail at<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. Analysis of the State Submittals

    On December 14, 2004 and March 1, 2016, the State of North
Carolina, through NCDEQ, submitted revisions to the North Carolina SIP.
EPA is proposing to approve the March 1, 2016, submission which adds a
new rule--15A NCAC 02Q .0809 Concrete Batch Plants and a portion of the
December 14, 2004, submission which adds two new rules--15A NCAC 02Q
.0901, Purpose and Scope and .0902 Portable Crushers. EPA has
preliminarily determined that these changes to the North Carolina SIP
are approvable pursuant to section 110 of the CAA. The changes that are
the subject of this proposed rulemaking are described in further detail
below.

A. March 1, 2016, SIP Submission

    The March 1, 2016, submission adds a new exclusionary rule for
concrete batch plants (15A NCAC 02Q .0809 Concrete Batch Plants) that
excludes from Title V permitting requirements such facilities that
operate below a specified annual production rate. The production rate
that qualifies concrete batch plants for this permit exclusion is
1,210,000 cubic yards of wet concrete per year, which, based on an
emission factor, corresponds to an emission rate below the major source
threshold. Subject facilities are required to submit an annual
registration to the appropriate regional office and report the quantity
of wet concrete produced in the previous calendar year and maintain
records of annual production for the previous three calendar years.
This annual certification that the facility's production rate is below
the specified level ensures continued protection of the NAAQS,
specifically particulate matter, which is of particular relevance
because concrete batch plants emit particulate matter, including
particulate matter with an aerodynamic diameter less than 10
micrometers (PM10) and less than 2.5 micrometers
(PM2.5). These excluded sources must also make prompt
reports if they exceed the annual production rate limit, submitted
within one week of the date on which the limit was exceeded.
    The rule excludes from Title V permitting requirements all concrete
batch plants in the state that produce

less than 1.2 million cubic yards of wet concrete per calendar year and
that are equipped with fabric filters or other functionally equivalent
control devices to abate emissions of particulate matter,
PM10 and PM2.5, from storage silos and weigh
hoppers that receive materials from cement and mineral admixture silos.
The annual production limit of 1.2 million cubic yards of wet concrete
is designed to limit particulate matter emissions from plants equipped
with fabric filters to less than the Title V permitting thresholds and
is based on standard emission factors in use at the time of rule
adoption.\1\
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    \1\ North Carolina cites EPA's AP-42 (U.S. EPA Office of Air
Quality Planning and Standards, Compilation of Air Pollutant
Emission Factors, Volume I: Stationary Point and Area Sources, AP-
42. Fifth Edition) in its response to comments from the December 14,
2004, submittal included as an attachment to the March 1, 2016,
submittal.
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B. December 14, 2004, SIP Submission

    The portion of the December 14, 2004, SIP submission that EPA is
proposing to approve adds a new section (Section .0900 Permit
Exemptions), which includes the following two new regulations:
    a. 15A NCAC 02Q .0901 Purpose and Scope is a new exclusionary rule
which provides for exclusions from construction and operating permits
for certain types of sources and activities. Sources subject to Title V
permitting requirements are not eligible for exclusion under this rule.
Sources eligible for permit exclusions under this rule may still apply
for and receive construction and operating permits. At the time of this
submittal, only one source category would be eligible for exclusion
from permitting under Section .0900, if approved as proposed: Portable
Crushers. The rule excludes from general construction and operating
permitting requirements all specific listed sources that, due to the
temporary, portable, and/or low-emitting nature of their operations,
typically do not meet the applicability requirements for air permits,
so long as they meet the requirements for the exclusion. These source-
specific exclusions contain provisions that limit the sources'
potential emissions, such as constraints on operating hours and fuel
consumption. The exclusions' use of operational or production-based
limits instead of potential-emissions limits would streamline sources'
analyses of whether or not they are required to obtain a permit.
    b. 15A NCAC 02Q .0902 Portable Crushers, is an exclusionary rule
which provides for exclusions from construction and operating permits
for portable crusher operations that meet the following criteria:
    [cir] No more than 300,000 tons of material crushed per any 12-
month period;
    [cir] No more than 17,000 gallons of diesel fuel burned during any
12 months (for both diesel generators and diesel engines used to drive
crushers);
    [cir] No more than 12 months of operation at a particular site;
    [cir] Continuous use of water spray to control emissions from the
crushers.
    Portable crushers operating at quarries with air permits are not
eligible for this permit exclusion.
    The rule excludes from general construction and operating
permitting requirements portable/temporary crushing operations,
providing the eligibility criteria listed above are met. The
eligibility criteria are designed to ensure that these portable
crushing operations do not operate for more than 12 months at a site.
Records of production and fuel consumption must be maintained, and all
equipment at each site must be labeled with unique identification
numbers. The eligibility criteria are also based on corresponding
emission rates and are thus designed to ensure that potential emissions
of particulate matter (including PM10 and PM2.5),
sulfur dioxide, and oxides of nitrogen from these sources are below
relevant permit applicability thresholds. Therefore, the revision will
not interfere with attainment and maintenance of the NAAQS pursuant to
CAA section 110(l).
    Crushing operations eligible for this permitting exclusion must
still comply with all applicable air quality standards, such as Rule
.0510 Particulates from Sand, Gravel, or Crushed Stone Operations,
.0516 Sulfur Dioxide Emissions from Combustion Sources, and .0521
Control of Visible Emissions, and any New Source Performance Standard,
among other state and federal air quality standards.

II. Incorporation by Reference

    In this rule, EPA is proposing to include in a final EPA rule
regulatory text that includes incorporation by reference. In accordance
with requirements of 1 CFR 51.5, EPA is proposing to incorporate by
reference 15A NCAC 02Q .0809 entitled ``Concrete Batch Plants''
effective April 1, 2004, a new exclusionary rule for concrete batch
that excludes from Title V permitting requirements such facilities that
operate below a specified annual production rate; 15A NCAC 02Q .0901
entitled ``Purpose and Scope'' effective January 1, 2005, a new
exclusionary rule which provides for exclusions from construction and
operating permits for certain types of sources and activities; and 15A
NCAC 02Q .0902 entitled ``Portable Crushers'' effective January 1,
2005, an exclusionary rule which provides for exclusions from
construction and operating permits for portable crusher operations. EPA
has made, and will continue to make, these materials generally
available through https://www.regulations.gov and/or at the EPA Region
4 office (please contact the person identified in the For Further
Information Contact section of this preamble for more information).

III. Proposed Action

    EPA is proposing to approve North Carolina's March 1, 2016,
submission and a portion of the December 14, 2004, submission. The
changes pertain to the addition of two new rules under a new section
``Permit Exemptions'' and adds a new rule to the ``Exclusionary Rules''
of the North Carolina SIP. These rule adoptions do not contravene
federal permitting requirements or existing EPA policy, nor will they
impact the NAAQS or interfere with any other applicable requirement of
the Act. See 42 U.S.C. 7410(l).

IV. Statutory and Executive Order Reviews

    Under the CAA, the Administrator is required to approve a SIP
submission that complies with the provisions of the Act and applicable
federal regulations. See 42 U.S.C. 7410(k); 40 CFR 52.02(a). Thus, in
reviewing SIP submissions, EPA's role is to approve state choices,
provided that they meet the criteria of the CAA. Accordingly, this
proposed action merely approves state law as meeting federal
requirements and does not impose additional requirements beyond those
imposed by state law. For that reason, these proposed action:
     Are not a significant regulatory action subject to review
by the Office of Management and Budget under Executive Orders 12866 (58
FR 51735, October 4, 1993) and 13563 (76 FR 3821, January 21, 2011);
     do not impose an information collection burden under the
provisions of the Paperwork Reduction Act (44 U.S.C. 3501 et seq.);
     are certified as not having a significant economic impact
on a substantial number of small entities under the Regulatory
Flexibility Act (5 U.S.C. 601 et seq.);
     do not contain any unfunded mandate or significantly or
uniquely affect small governments, as described in the Unfunded
Mandates Reform Act of 1995 (Pub. L. 104-4);

     do not have Federalism implications as specified in
Executive Order 13132 (64 FR 43255, August 10, 1999);
     are not an economically significant regulatory action
based on health or safety risks subject to Executive Order 13045 (62 FR
19885, April 23, 1997);
     are not a significant regulatory action subject to
Executive Order 13211 (66 FR 28355, May 22, 2001);
     are not subject to requirements of Section 12(d) of the
National Technology Transfer and Advancement Act of 1995 (15 U.S.C. 272
note) because application of those requirements would be inconsistent
with the CAA; and
     do not provide EPA with the discretionary authority to
address, as appropriate, disproportionate human health or environmental
effects, using practicable and legally permissible methods, under
Executive Order 12898 (59 FR 7629, February 16, 1994).
    The SIP is not approved to apply on any Indian reservation land or
in any other area where EPA or an Indian tribe has demonstrated that a
tribe has jurisdiction. In those areas of Indian country, the rule does
not have tribal implications as specified by Executive Order 13175 (65
FR 67249, November 9, 2000), nor will it impose substantial direct
costs on tribal governments or preempt tribal law.

List of Subjects in 40 CFR Part 52

    Environmental protection, Air pollution control, Incorporation by
reference, Ozone, Particulate matter, Reporting and recordkeeping
requirements, Sulfur oxides, Volatile organic compounds.

    Authority: 42 U.S.C. 7401 et seq.

    Dated: June 26, 2017.
V. Anne Heard,
Acting Regional Administrator, Region 4.
[FR Doc. 2017-14397 Filed 7-7-17; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register: February 20, 2007 (Volume 72, Number 33)]
[Notices]
[Page 7782-7784]
[DOCID:fr20fe07-29]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-55275; File No. SR-CBOE-2006-94]

Self-Regulatory Organizations; Chicago Board Options Exchange,
Incorporated; Notice of Filing of a Proposed Rule Change and Amendment
No. 1 Thereto Relating to Off-Floor DPMs

February 12, 2007.
    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 13, 2006, the Chicago Board Options Exchange,
Incorporated (``CBOE'' or the ``Exchange'') filed with the Securities
and Exchange Commission (``Commission'') the proposed rule change as
described in Items I, II, and III below, which Items have been
substantially prepared by the Exchange. The Exchange filed Amendment
No. 1 to the proposed rule change on January 18, 2007. The Commission
is publishing this notice to solicit comments on the proposed rule
change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    CBOE proposes to amend CBOE rules to allow a Designated Primary
Marker-Maker (``DPM'') to operate remotely away from CBOE's trading
floor. The text of the proposed rule change is available on the
Exchange's Web site (http://www.cboe.com), at the Office of the

Secretary, CBOE and at the Commission.

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

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

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

1. Purpose
    CBOE proposes to amend its rules to allow a DPM to operate remotely
away from CBOE's trading floor. DPMs are member organizations that
function in option classes allocated to them as a Market-Maker, and
also are subject to the obligations under Rule 8.85 or as otherwise
provided in CBOE's Rules. Currently, all DPMs operate on CBOE's trading
floor. However, some member organizations have expressed an interest in
acting as a DPM remotely away from CBOE's trading floor. As discussed
below, the proposed rule change is intended to provide DPMs with the
flexibility to operate on CBOE's trading floor (``On-Floor DPM'') or
remotely away from CBOE's trading floor (``Off-Floor DPM''). A DPM
would only be permitted to operate as an Off-Floor DPM in equity option
classes traded on the Hybrid Trading System.
    CBOE proposes to amend Rule 8.83 to provide that in selecting an
applicant for approval as a DPM, the appropriate exchange committee may
place one or more conditions on the approval, including, but not
limited to, whether the DPM will operate on-floor or off-floor.
Additionally, CBOE proposes to amend Rule 8.83 to provide that an On-
Floor DPM can request that the appropriate Exchange committee authorize
it to operate as an Off-Floor DPM in one or more equity option classes
traded on the Hybrid Trading System. The appropriate Exchange committee
will consider the factors specified in Rule 8.83(b) in determining
whether to permit an On-Floor DPM to operate as an Off-Floor DPM. In
the event a DPM is approved to operate as an Off-Floor DPM, Rule 8.83
provides that the Off-Floor DPM can have a DPM Designee trade in open
outcry in the option classes allocated to the Off-Floor DPM, but the
Off-Floor DPM shall not receive a participation entitlement under Rule
8.87 with respect to orders represented in open outcry. CBOE also
proposes to amend Rule 6.45A(a)(C) and Rule 6.74 to make clear that the
DPM participation entitlement is only applicable to an On-Floor DPM.
    As provided in new Interpretation .01 to Rule 8.83, if an Off-Floor
DPM wishes to operate as an On-Floor DPM, the Off-

Floor DPM can request that the appropriate Exchange Committee authorize
it to do so. In making a determination pursuant to this Interpretation,
the appropriate Exchange committee would evaluate whether the change is
in the best interests of the Exchange, and the committee may consider
any information that it believes will be of assistance to it. Factors
to be considered may include, but are not limited to, any one or more
of the following: performance, operational capacity of the Exchange or
the DPM, efficiency, number and experience of personnel of the DPM who
will be performing functions related to the trading of the applicable
securities, number of securities involved, number of Market-Makers
affected, and trading volume of the securities.
    In connection with this rule change, CBOE proposes to amend certain
DPM obligations contained in Rule 8.85. In particular, CBOE proposes to
amend the obligation contained in subparagraph (a)(iv) which currently
provides that the DPM must assure that the number of DPM Designees and
support personnel continuously present at the trading station
throughout every business day is not less than the minimum required by
the appropriate Exchange committee. CBOE proposes to amend subparagraph
(a)(iv) to state that an Off-Floor DPM similarly shall assure that the
number of DPM Designees and support personnel continuously overseeing
the DPM's activities is not less than the minimum required by the
appropriate Exchange committee. Additionally, an Off-Floor DPM shall
provide members with telephone access to a DPM Designee at all times
during market hours for purposes of resolving problems involving
trading on the Exchange.
    CBOE also proposes to amend the provision in subparagraph (a)(v) of
Rule 8.85 that states a DPM shall trade in all securities allocated to
the DPM only in the capacity of a DPM and not in any other capacity.
CBOE proposes to allow, as part of an existing pilot program applicable
to e-DPMs,\3\ an Off-Floor DPM to have not more than one Market-Maker
affiliated with the Off-Floor DPM trade on CBOE's trading floor in any
specific option class allocated to the Off-Floor DPM, provided such
Market-Maker is trading on a separate membership.\4\ The affiliated
Market-Maker would also have to comply with the ``Guidelines for
Exemptive Relief Under Rule 8.91(e) for Members Affiliated with DPMs'',
set forth in Rule 8.91. (Absent the pilot program, an Off-Floor DPM may
not allow any Market-Makers affiliated with the Off-Floor DPM to trade
on CBOE's trading floor in any class allocated to the Off-Floor DPM.)
If the Off-Floor DPM has an affiliated Marker-Maker trade on CBOE's
trading floor in any specific option class allocated to the Off-Floor
DPM pursuant to the pilot program, Rule 8.85(a)(v) provides that the
Off-Floor DPM cannot also have a DPM Designee trading in open outcry in
the option classes allocated to the Off-Floor DPM.
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    \3\ See CBOE Rule 8.93(vii). The Pilot Program is scheduled to
expire on March 14, 2007.
    \4\ CBOE proposes to make a corresponding change to the
``Guidelines for Exemptive Relief Under Rule 8.91(e) for Members
Affiliated with DPMs.'' See Guidelines, Paragraph (b)(viii).
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    Finally, CBOE proposes to amend Interpretation .02 of Rule 3.8 to
allow an Off-Floor DPM to appoint one individual to be the nominee for
all memberships utilized by the organization in an Off-Floor DPM
capacity. Interpretation .02 of Rule 3.8 currently provides that a
member organization can appoint one individual to be the nominee for
all memberships utilized by the organization in an RMM capacity or an
e-DPM capacity. This is an exception to the general requirement of Rule
3.8(a)(ii) which provides that ``if a member organization is the owner
or lessee of more than one membership, the organization must designate
a different individual to be the nominee for each of the memberships.''
2. Statutory Basis
    CBOE believes the proposed rule change is consistent with the Act
and the rules and regulations under the Act applicable to a national
securities exchange and, in particular, the requirements of Section
6(b) of the Act.\5\ Specifically, the Exchange believes the proposed
rule change is consistent with the Section 6(b)(5) \6\ requirements
that the rules of an exchange be designed to remove impediments to and
perfect the mechanism for a free and open market and a national market
system, and, in general, to protect investors and the public interest.
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    \5\ 15 U.S.C. 78(f)(b).
    \6\ 15 U.S.C. 78(f)(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition

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

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

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

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

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

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml.
); or     Send an e-mail to<EMAIL_ADDRESS>Please include

File Number SR-CBOE-2006-94 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-CBOE-2006-94. This file
number should be included on the subject line if e-mail is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml
). Copies of the submission, all subsequent amendments, all

written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than

those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for inspection and
copying in the Commission's Public Reference Section, 100 F Street,
NE., Washington, DC 20549. Copies of such filing also will be available
for inspection and copying at the principal office of the CBOE. 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-CBOE-2006-94 and should be
submitted on or before March 13, 2007.

    For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\7\
---------------------------------------------------------------------------

    \7\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-2849 Filed 2-16-07; 8:45 am]

BILLING CODE 8011-01-P


[Federal Register Volume 76, Number 66 (Wednesday, April 6, 2011)]
[Notices]
[Pages 19160-19162]
[FR Doc No: 2011-8141]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-64163; File No. SR-NYSEAmex-2011-22]

Self-Regulatory Organizations; Notice of Filing and Immediate
Effectiveness of Proposed Rule Change by NYSE Amex LLC To Expand the
$2.50 Strike Price Program

March 31, 2011.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that, on March 29, 2011, NYSE Amex LLC (``NYSE Amex'' or ``Exchange'')
filed with the Securities and Exchange Commission (``Commission'') the
proposed rule change as described in Items I and II below, which Items
have been prepared by the Exchange. The Commission is publishing this
notice to solicit comments on the proposed rule change from interested
persons.
---------------------------------------------------------------------------

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

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

    The Exchange proposes to amend Commentary .07 to NYSE Amex Rule 903
to expand the $2.50 Strike Price Program. The text of the proposed rule
change is available at the principal office of Exchange, the
Commission's Public Reference Room, on the Commission's Web site at
http://www.sec.gov, and http://www.nyse.com.

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

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

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

1. Purpose
    The purpose of this proposed rule change is to expand the current
$2.50 Strike Price Program (``Program'')\3\ to permit the listing of
options with $2.50 strike price intervals for options with strike
prices between $50 and $100, provided the $2.50 strike price intervals
are no more than $10 from the closing price of the underlying stock in
the primary market.\4\ Additionally, the Exchange proposes to increase
the number of option classes on individual stocks for which the
intervals of strike prices will be $2.50 to 60 options classes.
---------------------------------------------------------------------------

    \3\ See Securities Exchange Act Release No. 35993 (July 19,
1995), 60 FR 38073 (July 25, 1995) (approving File Nos. SR--Phlx-95-
08, SR-Amex-95-12, SR-PSE-95-07, SR-CBOE-95-19, and SR-NYSE-95-12).
See also Exchange Act Release No. 52893 (December 5, 2005) 70 FR
73488 (December 12, 2005) (a rule change to allow the listing of
options with $2.50 strike price intervals for strike prices between
$50 and $75).
    \4\ The term ``primary market'' is defined in NYSE Amex Rule
900.2NY(62), in respect of an underlying stock or Exchange-Traded
Fund Share, as the principal market in which the underlying stock or
Exchange-Traded Fund Share is traded.
---------------------------------------------------------------------------

    Currently, Exchange Rule 903 at Commentary .07 permits the listing
of options with $2.50 strike price intervals for options with strike
prices between $50 and $75. Specifically, the Exchange proposes to
amend Commentary .07 to Exchange Rule 903 to amend the current text.
    For example, consider a hypothetical where Caterpillar, Inc.
(``CAT'') was trading at $81. With approximately one month remaining
until expiration, and with a front month at-the-money put option (the
80 strike) trading at approximately $1.30, the investor would be able
to purchase a $77.50 strike put at an estimated $.60 per contract.
Today, the next available strike of a one month put option is the 75
strike. While the 75 strike put would certainly trade at a lesser price
than the 80 strike put,\5\ the protection offered would only take
effect with a 7.40% decline in the market as opposed to a 4.30% decline
in the market. The additional choice would provide the investor an
additional opportunity to hedge exposure (the opportunity to hedge with
a reduced outlay) and thereby minimize risk if there were a decline in
the stock price of CAT.
---------------------------------------------------------------------------

    \5\ The 75 strike put would trade at $.30 in this example.
---------------------------------------------------------------------------

    Another example would be if an investor desired to sell call
options to hedge the exposure of an underlying stock position and
enhance yield. Consider a hypothetical where CAT was trading at $81 and
the second month (two months remaining) of a recently out-of-the-money
call option (the 85 strike) was trading at approximately $2.35. If the
investor where to sell the 85 call against an existing stock position,
the investor could yield a return of approximately 2.90% over a two
month period or an annualized return of 17.4%. By providing an
additional $2.50 strike interval above $75, the investor would have the
opportunity to sell the 82.50 strike instead of the 85 strike. If the
85 strike call were trading at $2.35, the 82.50 strike call would trade
at approximately 3.30. By selling the 82.50 strike call at 3.30 against
an existing stock position, the investor could yield a 4.07% return
over a two month period or an annualized 24.40% return. Therefore, an
additional choice of a $2.50 strike interval could afford varying
yields to the investor.
    The Exchange believes that the Program has to date created
additional trading opportunities for investors, thereby benefiting the
marketplace. The existence of $2.50 strike prices with strike intervals
above $75 affords investors the ability to more closely tailor
investment strategies to the precise movement of the underlying
security and meet their investment, trading and risk management
requirements.
    The Exchange is also proposing to make a non-substantive amendment
to the rule text to remove language referring to the original SEC
approval of the Program.
    The Exchange is also proposing to increase the number of option
classes on individual stocks for which the intervals of strike prices
will be $2.50 to 60 options classes. Currently, the Exchange may select
up to 51 options classes on individual stocks for which the intervals
of strike prices will be $2.50. Initially adopted in 1995 as a pilot
program, the options exchanges at that time were permitted to list
options with $2.50 strike price intervals up to $50 on a total of up to
100 option classes. In 1998, the pilot program was expanded and
permanently approved to allow the options exchanges collectively to
select up to 200 option classes on which to list options with $2.50
strike price intervals up to $50. Of these 200 options classes eligible
for the Program, 51 classes were allocated to the Exchange pursuant to
a formula approved by the Commission as part of the permanent approval
of the Program.\6\ In addition, each options exchange is permitted to
list options with $2.50 strike price intervals on any option class that
another options exchange selects under its program.
---------------------------------------------------------------------------

    \6\ See Securities Exchange Act Release No. 40662 (November 12,
1998), 63 FR 64297 (November 19, 1998) (approving File Nos. SR-Amex-
98-21, SR-CBOE-98-29, SR-PCX-98-31, and SR Phlx-98-26).
---------------------------------------------------------------------------

    Since 1998, the 200 options classes have not been expanded,
although increasingly more companies have completed initial public
offerings from 1998 through 2010. Additionally, significantly more
options classes are trading in 2010 as compared to 1998. The Exchange
proposes to increase its allocation from 51 to 60 \7\ options classes
to accommodate investor requests for $2.50 strikes in certain options
classes. The Exchange believes that offering additional options classes
would benefit investors.
---------------------------------------------------------------------------

    \7\ Currently, the Chicago Board Options Exchange (``CBOE'') has
an allocation of 60 options.
---------------------------------------------------------------------------

    Furthermore, the Exchange does not believe that this proposal would
have a negative impact on the marketplace. The Exchange would compare
this proposal with the $1 Strike Price expansion, wherein the Exchange
expanded its $1 Strike Price Program from 55 individual stocks to 150
individual stocks on which an option series may be listed at $1 strike
price intervals.\8\ The Exchange believes that this proposal, wherein
the Exchange is proposing to increase its allocation from 51 to 60
options classes is substantially less than the $1 Strike Price Program
increase and therefore would have less impact than that program, which
has not had any negative impact on the market in terms of proliferation
of quote volume or fragmentation.
---------------------------------------------------------------------------

    \8\ See Securities Exchange Act Release No. 62452 (July 6, 2010)
75 FR 40011 (July 13, 2010).
---------------------------------------------------------------------------

    With regard to the impact of this proposal on system capacity, the
Exchange has analyzed its capacity and represents that it and the
Options Price Reporting Authority have the necessary system capacity to
handle the potential

additional traffic associated with the listing and trading of classes
on individual stocks in the $2.50 Strike Price Program.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b) of the Securities Exchange Act of 1934 \9\ (the ``Act'') in
general, and furthers the objectives of Section 6(b)(5) of the Act \10\
in particular, in that it is designed to promote just and equitable
principles of trade, to remove impediments to and perfect the mechanism
of a free and open market and a national market system, and, in general
to protect investors and the public interest. The Exchange believes
that the effect of the proposed expansion on the marketplace would not
result in a material proliferation of quote volume or concerns with
fragmentation. In addition, the Exchange believes that it has the
necessary system capacity to handle the potential additional traffic
associated with the listing and trading of additional series.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78f(b).
    \10\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    Rather, the Exchange believes the $2.50 Strike Price Program
proposal would provide the investing public and other market
participants increased opportunities to better manage their risk
exposure. Accordingly, the Exchange believes that the proposal to
expand the number of classes in the Program and to allow the listing of
options with $2.50 strike price intervals for options with strike
prices between $50 and $100 should further benefit investors and the
market by providing greater trading opportunities for those underlying
stocks that have low volatility and thus trade in a narrow range.

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

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

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

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

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

    Because the foregoing proposed rule change does not significantly
affect the protection of investors or the public interest, does not
impose any significant burden on competition, and, by its terms, does
not become operative for 30 days from the date on which it was filed,
or such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A) of the Act \11\ and Rule 19b-
4(f)(6) thereunder.\12\
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78s(b)(3)(A).
    \12\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires the Exchange to give the Commission written notice of the
Exchange's intent to file the proposed rule change, along with a
brief description and text of the proposed rule change, at least
five business days prior to the date of filing of the proposed rule
change, or such shorter time as designated by the Commission. The
Exchange has satisfied this requirement.
---------------------------------------------------------------------------

    The Exchange has requested that the Commission waive the 30-day
operative delay. The Commission believes that waiver of the operative
delay is consistent with the protection of investors and the public
interest because the proposal is substantially similar to that of
another exchange that has been approved by the Commission.\13\
Therefore, the Commission designates the proposal operative upon
filing.\14\
---------------------------------------------------------------------------

    \13\ See Securities Exchange Act Release No. 64157 (March 31,
2011) (SR-Phlx-2011-15) (order approving expansion of $2.50 Strike
Price Program).
    \14\ For purposes only of waiving the 30-day operative delay,
the Commission has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an e-mail to<EMAIL_ADDRESS>Please include
File Number SR-NYSEAmex-2011-22 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-NYSEAmex-2011-22. This
file number should be included on the subject line if e-mail is used.
To help the Commission process and review your comments more
efficiently, please use only one method. The Commission will post all
comments on the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments,
all written statements with respect to the proposed rule change that
are filed with the Commission, and all written communications relating
to the proposed rule change between the Commission and any person,
other than those that may be withheld from the public in accordance
with the provisions of 5 U.S.C. 552, will be available for Web site
viewing and printing in the Commission's Public Reference Room, 100 F
Street, NE., Washington, DC 20549, on official business days between
the hours of 10 a.m. and 3 p.m. Copies of the filing also will be
available for inspection and copying at the principal office of the
Exchange. All comments received will be posted without change; 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-
NYSEAmex-2011-22 and should be submitted on or before April 27, 2011.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\15\
Cathy H. Ahn,
Deputy Secretary.
---------------------------------------------------------------------------

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

[FR Doc. 2011-8141 Filed 4-5-11; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 84, Number 84 (Wednesday, May 1, 2019)]
[Rules and Regulations]
[Pages 18403-18405]
[FR Doc No: 2019-08821]

=======================================================================
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DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

44 CFR Part 64

[Docket ID FEMA-2019-0003; Internal Agency Docket No. FEMA-8577]

Suspension of Community Eligibility

AGENCY: Federal Emergency Management Agency, DHS.

ACTION: Final rule.

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

SUMMARY: This rule identifies communities where the sale of flood
insurance has been authorized under the National Flood Insurance
Program (NFIP) that are scheduled for suspension on the effective dates
listed within this rule because of noncompliance with the floodplain
management requirements of the program. If the Federal Emergency
Management Agency (FEMA) receives documentation that the community has
adopted the required floodplain management measures prior to the
effective suspension date given in this rule, the suspension will not
occur and notification of this will be provided by publication in the
Federal Register on a subsequent date.

DATES: The effective date of each community's scheduled suspension is
the third date (``Susp.'') listed in the third column of the following
tables.

ADDRESSES: Information identifying the current participation status of
a community can be obtained from FEMA's Community Status Book (CSB).
The CSB is available at https://www.fema.gov/national-flood-insurance-program-community-status-book.

FOR FURTHER INFORMATION CONTACT: If you want to determine whether a
particular community was suspended on the suspension date or for
further information, contact Adrienne L. Sheldon, PE, CFM, Federal
Insurance and Mitigation Administration, Federal Emergency Management
Agency, 400 C Street SW, Washington, DC 20472,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: The NFIP enables property owners to purchase
Federal flood insurance that is not otherwise generally available from
private insurers. In return, communities agree to adopt and administer
local floodplain management measures aimed at protecting lives and new
construction from future flooding. Section 1315 of the National Flood
Insurance Act of 1968, as amended, 42 U.S.C. 4022, prohibits the sale
of NFIP flood insurance unless an appropriate public body adopts
adequate floodplain management measures with effective enforcement
measures. The communities listed in this document no longer meet that
statutory requirement for compliance with program regulations, 44 CFR
part 59. Accordingly, the communities will be suspended on the
effective date in the third column. As of that date, flood insurance
will no longer be available in the community. We recognize that some of
these communities may adopt and submit the required documentation of
legally enforceable floodplain management measures after this rule is
published but prior to the actual suspension date. These communities
will not be suspended and will continue to be eligible for the sale of
NFIP flood insurance. A notice withdrawing the suspension of such
communities will be published in the Federal Register.
    In addition, FEMA publishes a Flood Insurance Rate Map (FIRM) that
identifies the Special Flood Hazard Areas (SFHAs) in these communities.
The date of the FIRM, if one has been published, is indicated in the
fourth column of the table. No direct Federal financial assistance
(except assistance pursuant to the Robert T. Stafford Disaster Relief
and Emergency Assistance Act not in connection with a flood) may be
provided for construction or acquisition of buildings in identified
SFHAs for communities not participating in the NFIP and identified for
more than a year on FEMA's initial FIRM for the community as having
flood-prone areas (section 202(a) of the Flood Disaster Protection Act
of 1973, 42 U.S.C. 4106(a), as amended). This prohibition against
certain types of Federal assistance becomes effective for the
communities listed on the date shown in the last column. The
Administrator finds that notice and public comment procedures under 5
U.S.C. 553(b), are impracticable and unnecessary because communities
listed in this final rule have been adequately notified.
    Each community receives 6-month, 90-day, and 30-day notification
letters addressed to the Chief Executive Officer stating that the
community will be suspended unless the required floodplain management
measures are met prior to the effective suspension date. Since these
notifications were made, this final rule may take effect within less
than 30 days.
    National Environmental Policy Act. FEMA has determined that the
community suspension(s) included in this rule is a non-discretionary
action and therefore the National Environmental Policy Act of 1969 (42
U.S.C. 4321 et seq.) does not apply.
    Regulatory Flexibility Act. The Administrator has determined that
this rule is exempt from the requirements of the Regulatory Flexibility
Act because the National Flood Insurance Act of 1968, as amended,
Section 1315, 42 U.S.C. 4022, prohibits flood insurance coverage unless
an appropriate public body adopts adequate floodplain management
measures with effective enforcement measures. The communities listed no
longer comply with the statutory requirements, and after the effective
date, flood insurance will no longer be available in the communities
unless remedial action takes place.
    Regulatory Classification. This final rule is not a significant
regulatory action under the criteria of section 3(f) of Executive Order
12866 of September 30, 1993, Regulatory Planning and Review, 58 FR
51735.
    Executive Order 13132, Federalism. This rule involves no policies
that have federalism implications under Executive Order 13132.
    Executive Order 12988, Civil Justice Reform. This rule meets the
applicable standards of Executive Order 12988.
    Paperwork Reduction Act. This rule does not involve any collection
of information for purposes of the Paperwork Reduction Act, 44 U.S.C.
3501 et seq.

List of Subjects in 44 CFR Part 64

    Flood insurance, Floodplains.

    Accordingly, 44 CFR part 64 is amended as follows:

PART 64--[AMENDED]

0
1. The authority citation for Part 64 continues to read as follows:

    Authority:  42 U.S.C. 4001 et seq.; Reorganization Plan No. 3 of
1978, 3 CFR, 1978 Comp.; p. 329; E.O. 12127, 44 FR 19367, 3 CFR,
1979 Comp.; p. 376.

Sec.  64.6   [Amended]

0
2. The tables published under the authority of Sec.  64.6 are amended
as follows:

----------------------------------------------------------------------------------------------------------------
                                                Effective date
                                                authorization/
                                  Community     cancellation of    Current effective map   Date certain Federal
      State and location             No.         sale of flood             date            assistance no longer
                                                 insurance in                               available in SFHAs
                                                   community
----------------------------------------------------------------------------------------------------------------
           Region VI

Oklahoma: Tulsa, City of,             405381  November 20, 1970,  May 2, 2019...........  May 2, 2019.
 Osage, Rogers, Tulsa and                      Emerg; August 13,
 Wagoner Counties.                             1971, Reg; May 2,
                                               2019, Susp.
Texas: Galena Park, City of,          480293  November 29, 1974,  ......do *............   Do.
 Harris County.                                Emerg; November
                                               2, 1982, Reg; May
                                               2, 2019, Susp.
----------------------------------------------------------------------------------------------------------------
* -do- = Ditto.
Code for reading third column: Emerg.--Emergency; Reg.--Regular; Susp.--Suspension.

    Dated: April 18, 2019.
Eric Letvin,
Deputy Assistant Administrator for Mitigation, Federal Insurance and
Mitigation Administration--FEMA Resilience, Department of Homeland
Security, Federal Emergency Management Agency.
[FR Doc. 2019-08821 Filed 4-30-19; 8:45 am]
 BILLING CODE 9110-12-P


[Federal Register Volume 76, Number 147 (Monday, August 1, 2011)]
[Notices]
[Pages 45883-45885]
[FR Doc No: 2011-19324]

=======================================================================
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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-64961; File No. SR-FINRA-2011-026]

Self-Regulatory Organizations; Financial Industry Regulatory
Authority, Inc.; Notice of Filing and Immediate Effectiveness of
Proposed Rule Change Regarding Cancellation or Rescheduling Fees for
Qualification Examinations and Continuing Education Sessions

July 26, 2011.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on July 15, 2011, Financial Industry Regulatory Authority, Inc.
(``FINRA'') filed with the Securities and Exchange Commission (``SEC''
or ``Commission'') the proposed rule change as described in Items I,
II, and III below, which Items have been prepared by FINRA. The
Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
---------------------------------------------------------------------------

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

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

    FINRA is proposing to amend Section 4(c) of Schedule A to the FINRA
By-Laws to address cancellation/rescheduling fees for qualification
examinations and continuing education sessions. Specifically, the
proposed rule change would (1) Establish a fee for individuals who
cancel or reschedule a qualification examination or Regulatory Element
Continuing Education (``Regulatory Element'') session three to ten
business days prior to the appointment date, and (2) add a reference to
the fee for individuals who fail to timely appear for a scheduled
Regulatory Element session or who cancel or reschedule such a session
within two business days prior to the appointment date.
    The text of the proposed rule change is available on FINRA's Web
site at http://www.finra.org, at the principal office of FINRA, 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, FINRA included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. FINRA has prepared summaries, set forth in sections A,
B, and C below, of the most significant aspects of such statements.

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

1. Purpose
    As discussed in further detail below, the proposed rule change
amends Section 4(c) of Schedule A to the FINRA By-Laws to (1) Establish
a fee for individuals who cancel or reschedule a qualification
examination or Regulatory Element session three to ten business days
prior to the appointment date, and (2) add a reference to the fee for
individuals who fail to timely appear for a scheduled Regulatory
Element session or who cancel or reschedule such a session within two
business days prior to the appointment date.
Three- to Ten-Day Cancellation/Rescheduling Fee
    Pursuant to NASD Rules 1021 and 1031, any person engaged in the
investment banking or securities business of a FINRA member must
register with FINRA in the category of registration appropriate to the
function

the individual will be performing. As part of the registration process,
securities professionals must pass a qualification examination to
demonstrate competence in the areas in which they will work. In
addition, such individuals must complete the appropriate Regulatory
Element program subsequent to their initial qualification and
registration with FINRA, as set forth in NASD Rule 1120.\3\ The
qualification examinations and Regulatory Element programs cover a
broad range of subjects regarding financial markets and products,
individual responsibilities, securities industry rules, and regulatory
structure. FINRA develops, maintains, and delivers all qualification
examinations and Regulatory Element programs for individuals who are
registered or seeking registration with FINRA. FINRA also delivers
examinations sponsored by the North American Securities Administrators
Association, the National Futures Association, the Federal Deposit
Insurance Corporation, and others. FINRA currently administers
examinations and Regulatory Element programs via computer at testing
centers operated by vendors under contract with FINRA.
---------------------------------------------------------------------------

    \3\ The SEC has approved the adoption of NASD Rule 1120
(Continuing Education Requirements) as FINRA Rule 1250 (Continuing
Education Requirements) in the consolidated FINRA rulebook with
certain changes. See Securities Exchange Act Release No. 64687 (June
16, 2011), 76 FR 36586 (June 22, 2011) (Order Approving SR-FINRA-
2011-013). FINRA will issue a Regulatory Notice announcing the
effective date of FINRA Rule 1250 in the near future.
---------------------------------------------------------------------------

    To request and schedule an appointment for a qualification
examination, a FINRA member must file a Form U4 (Uniform Application
for Securities Industry Registration or Transfer) through the Central
Registration Depository (``Web CRD[supreg]'').\4\ After the request is
processed, a scheduling window will be posted on Web CRD. For
Regulatory Element programs, registered persons in covered registration
categories will automatically become enrolled for the requisite program
on the second anniversary of their initial securities registration and
every three years thereafter. Once an individual or an individual's
firm receives the enrollment notification for an examination or
Regulatory Element session, the individual may then contact a FINRA
authorized testing center to schedule an appointment.
---------------------------------------------------------------------------

    \4\ Individuals who are not employed or associated with a FINRA
member must file a Form U10 (Uniform Examination Request for Non-
FINRA candidates) with FINRA to schedule an examination.
---------------------------------------------------------------------------

    After an examination or Regulatory Element session has been
scheduled, an individual may cancel or reschedule the appointment by
contacting the testing center. Currently, FINRA does not impose a fee
for cancelling or rescheduling an appointment if it is done by noon two
business days before the scheduled appointment. FINRA charges a
cancellation fee equal to the examination or Regulatory Element session
fee if this deadline is not met, if an individual does not appear for
an appointment, or if an individual arrives so late for an appointment
that the examination or Regulatory Element session cannot begin without
disrupting the testing center's schedule.\5\
---------------------------------------------------------------------------

    \5\ Further information about the cancellation policy can be
found on FINRA's Web site at http://www.finra.org/Industry/Compliance/Registration/QualificationsExams/RegisteredReps/Qualifications/P120071.
---------------------------------------------------------------------------

    FINRA has determined that individuals who cancel or reschedule an
appointment more than two business days before the scheduled
appointment date also place an administrative burden on test-delivery
vendors and degrade the efficiency of test center resource utilization.
To discourage such behavior, FINRA is proposing to implement a fee for
individuals who cancel or reschedule a qualification examination or
Regulatory Element session within three to ten business days of a
scheduled appointment date.\6\ The amount of the proposed fee would be
one-half of the fee of the examination or Regulatory Element session
being cancelled or rescheduled.\7\ FINRA believes that this fee will
help to control the overall costs associated with the delivery of
examinations and Regulatory Element programs and the resultant
examination and Regulatory Element session fees charged to individuals
for examinations and Regulatory Element programs.
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    \6\ The cancellation/rescheduling fee will be assessed for the
qualification examinations set forth in Section 4(c) of Schedule A
to the FINRA By-Laws and all Regulatory Element programs. In
addition, depending on the terms of agreement, the fee also may
apply for those qualification examinations that FINRA delivers for
other entities.
    \7\ The fee must be paid at the time of cancellation or
rescheduling. In those circumstances where the fee is not paid in a
timely manner, FINRA, instead, will assess a fee equal to the
examination or Regulatory Element session fee if the individual does
not appear for the scheduled appointment.
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Continuing Education Failure To Timely Appear/Late Cancellation or
Rescheduling Fee
    As previously mentioned, FINRA assesses a fee equal to the
examination or Regulatory Element session fee to individuals who fail
to timely appear for an appointment or who cancel or reschedule an
examination or Regulatory Element session within two business days of
the scheduled appointment date.\8\ Although Section 4(c) of Schedule A
to the FINRA By-Laws currently sets forth this fee for qualification
examinations, it does not set forth the fee with respect to the
Regulatory Element program. Consequently, FINRA is proposing to amend
Section 4(c) of Schedule A to the FINRA By-Laws to add a reference to
this Regulatory Element program fee. The proposed rule change would
also specifically reference the time period for which this fee applies
(i.e., within two business days prior to the appointment date).
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    \8\ FINRA considers an individual who fails to cancel or
reschedule an examination or Regulatory Element session by noon two
business days before the scheduled appointment to have failed timely
to cancel or reschedule the appointment under Section 4(c)(2) of
Schedule A to the FINRA By-Laws. See supra note 7.
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    FINRA has filed the proposed rule change for immediate
effectiveness. FINRA is proposing that the implementation date of the
proposed rule change will be September 1, 2011.
2. Statutory Basis
    FINRA believes that the proposed rule change is consistent with the
provisions of Section 15A of the Act,\9\ in general, and with Section
15A(b)(5) of the Act,\10\ in particular, in that it provides for the
equitable allocation of reasonable dues, fees and other charges among
members and issuers and other persons using any facility or system
which FINRA operates or controls. FINRA believes that it is an
equitable allocation to assess a fee on those individuals who cancel a
qualification examination or Regulatory Element session within three to
ten business days of a scheduled appointment date, because such
behavior places an administrative burden on test-delivery vendors and
degrades the efficiency of test center resource utilization. FINRA
further believes that the amount of the fee, which is one-half of the
current fee for individuals who fail to appear for a scheduled
appointment or who cancel/reschedule an appointment within two business
days of a scheduled appointment date, is reasonable because it will
help to control the overall costs associated with the delivery of
examinations and Regulatory Element programs while also recognizing the
lesser burden that results from those individuals who provide
additional notice by cancelling/rescheduling an appointment three to
ten business days

before the scheduled appointment date. FINRA further believes that the
amount of the fee is reasonable because it will dissuade individuals
from cancelling or rescheduling an appointment three to ten business
days before the scheduled appointment date.
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    \9\ 15 U.S.C. 78o-3(b)(5).
    \10\ Id.
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B. Self-Regulatory Organization's Statement on Burden on Competition

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

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

    Written comments were neither solicited nor received.

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

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \11\ and paragraph (f)(2) of Rule 19b-4
thereunder.\12\ At any time within 60 days of the filing of the
proposed rule change, the Commission summarily may temporarily suspend
such rule change if it appears to the Commission that such action is
necessary or appropriate in the public interest, for the protection of
investors, or otherwise in furtherance of the purposes of the Act. If
the Commission takes such action, the Commission shall institute
proceedings to determine whether the proposed rule should be approved
or disapproved.
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    \11\ 15 U.S.C. 78s(b)(3)(A).
    \12\ 17 CFR 240.19b-4(f)(2).
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IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an e-mail to<EMAIL_ADDRESS>Please include
File Number SR-FINRA-2011-026 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-FINRA-2011-026. This
file number should be included on the subject line if e-mail is used.
To help the Commission process and review your comments more
efficiently, please use only one method. The Commission will post all
comments on the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments,
all written statements with respect to the proposed rule change that
are filed with the Commission, and all written communications relating
to the proposed rule change between the Commission and any person,
other than those that may be withheld from the public in accordance
with the provisions of 5 U.S.C. 552, will be available for Web site
viewing and printing in the Commission's Public Reference Room, 100 F
Street, NE., Washington, DC 20549, on official business days between
the hours of 10 a.m. and 3 p.m. Copies of such filing also will be
available for inspection and copying at the principal office of FINRA.
All comments received will be posted without change; the Commission
does not edit personal identifying information from submissions. You
should submit only information that you wish to make publicly
available. All submissions should refer to File Number SR-FINRA-2011-
026 and should be submitted on or before August 22, 2011.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\13\
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    \13\ 17 CFR 200.30-3(a)(12).
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Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-19324 Filed 7-29-11; 8:45 am]
BILLING CODE 8011-01-P