Instructions-Access Steps to Create Centrifugal Compressor Analysis Sheet
Steps Used to Create Excel File (cc_measured_single_2015-2020) via Microsoft Access:
                                     Step
Description
                                       1
Download 18 files, three for each of the 6 years from RY2015 to RY2020 files. These files are:
 EF_W_CENTRIF_COMP_ACTIVITY
 EF_W_CENTRIF_COMP_SOURCE
 EF_W_CENTRIF_LEAK_VENT_DATA
                                       2
Combine the different RY files (append spreadsheets) to create 3 Excel files with the names identified above that contain all records across RY2015 to RY2020. NOTE: Make sure the sheet name for each file is the same name as above. Import these 3 Excel files into Access.
                                       3
Create intermediate query file "CC1" using the following SQL:
SELECT DISTINCT EF_W_CENTRIF_COMP_SOURCE.REPORTING_YEAR, EF_W_CENTRIF_COMP_SOURCE.FACILITY_ID, EF_W_CENTRIF_COMP_SOURCE.FACILITY_NAME, EF_W_CENTRIF_COMP_SOURCE.INDUSTRY_SEGMENT, EF_W_CENTRIF_COMP_ACTIVITY.COMPRESSOR_MEASURED_OP_MODE, EF_W_CENTRIF_COMP_ACTIVITY.COMPRESSOR_MEASURED_NO_OP_MODE, EF_W_CENTRIF_COMP_ACTIVITY.TOTAL_OPERATING_MODE_HOURS, EF_W_CENTRIF_COMP_ACTIVITY.TOTAL_NOT_OPERATING_MODE_HOURS, EF_W_CENTRIF_COMP_ACTIVITY.BLIND_FLANGES_INSTALLED, EF_W_CENTRIF_COMP_SOURCE.COMPRESSOR_SOURCE, EF_W_CENTRIF_COMP_SOURCE.LEAK_OR_VENT_ID, EF_W_CENTRIF_COMP_ACTIVITY.SEAL_TYPE, EF_W_CENTRIF_COMP_ACTIVITY.COMPRESSOR_IDENTIFIER
FROM EF_W_CENTRIF_COMP_SOURCE RIGHT JOIN EF_W_CENTRIF_COMP_ACTIVITY ON (EF_W_CENTRIF_COMP_SOURCE.FACILITY_ID = EF_W_CENTRIF_COMP_ACTIVITY.FACILITY_ID) AND (EF_W_CENTRIF_COMP_SOURCE.REPORTING_YEAR = EF_W_CENTRIF_COMP_ACTIVITY.REPORTING_YEAR) AND (EF_W_CENTRIF_COMP_SOURCE.INDUSTRY_SEGMENT = EF_W_CENTRIF_COMP_ACTIVITY.INDUSTRY_SEGMENT) AND (EF_W_CENTRIF_COMP_SOURCE.COMPRESSOR_IDENTIFIER = EF_W_CENTRIF_COMP_ACTIVITY.COMPRESSOR_IDENTIFIER);
                                       4
Create intermediate query file "CC2" using the following SQL:
SELECT DISTINCT EF_W_CENTRIF_LEAK_VENT_DATA.TABLE_NUM, EF_W_CENTRIF_LEAK_VENT_DATA.FACILITY_ID, EF_W_CENTRIF_LEAK_VENT_DATA.FACILITY_NAME, EF_W_CENTRIF_LEAK_VENT_DATA.REPORTING_YEAR, EF_W_CENTRIF_LEAK_VENT_DATA.INDUSTRY_SEGMENT, cc1.LEAK_OR_VENT_ID, EF_W_CENTRIF_LEAK_VENT_DATA.MEASUREMENT_METHOD, EF_W_CENTRIF_LEAK_VENT_DATA.MEASUREMENT_DATE, EF_W_CENTRIF_LEAK_VENT_DATA.MEASUREMENT_FLOW_RATE, EF_W_CENTRIF_LEAK_VENT_DATA.COMPRESSOR_OPERATING_MODE, EF_W_CENTRIF_LEAK_VENT_DATA.COMPRESSOR_NOT_OPERATING_MODE
FROM cc1 INNER JOIN EF_W_CENTRIF_LEAK_VENT_DATA ON (cc1.REPORTING_YEAR = EF_W_CENTRIF_LEAK_VENT_DATA.REPORTING_YEAR) AND (cc1.FACILITY_ID = EF_W_CENTRIF_LEAK_VENT_DATA.FACILITY_ID) AND (cc1.LEAK_OR_VENT_ID = EF_W_CENTRIF_LEAK_VENT_DATA.LEAK_OR_VENT_ID) AND (cc1.INDUSTRY_SEGMENT = EF_W_CENTRIF_LEAK_VENT_DATA.INDUSTRY_SEGMENT)
WHERE (((EF_W_CENTRIF_LEAK_VENT_DATA.TABLE_NUM)="Table O.3.i"));
                                       5
Create intermediate query file "CC3" using the following SQL:
SELECT DISTINCT cc1.REPORTING_YEAR, cc1.FACILITY_ID, cc1.FACILITY_NAME, cc1.INDUSTRY_SEGMENT, cc1.COMPRESSOR_MEASURED_OP_MODE, cc1.COMPRESSOR_MEASURED_NO_OP_MODE, cc1.TOTAL_OPERATING_MODE_HOURS, cc1.TOTAL_NOT_OPERATING_MODE_HOURS, cc1.BLIND_FLANGES_INSTALLED, cc1.COMPRESSOR_SOURCE, cc1.LEAK_OR_VENT_ID, cc1.SEAL_TYPE, cc1.COMPRESSOR_IDENTIFIER, EF_W_CENTRIF_LEAK_VENT_DATA.AS_FOUND_MEASUREMENT_CONDUCTED, EF_W_CENTRIF_LEAK_VENT_DATA.CONT_MEASUREMENTS_CONDUCTED, EF_W_CENTRIF_LEAK_VENT_DATA.SINGLE_SOURCE_OR_MANIFOLD_GRP, EF_W_CENTRIF_LEAK_VENT_DATA.LEAK_OR_VENT_EMISS_RELEASED, EF_W_CENTRIF_LEAK_VENT_DATA.CO2_EMISSIONS_VENTED, EF_W_CENTRIF_LEAK_VENT_DATA.CH4_EMISSIONS_VENTED, EF_W_CENTRIF_LEAK_VENT_DATA.PERCENT_TIME_DEV_OPERATIONAL
FROM cc1 LEFT JOIN EF_W_CENTRIF_LEAK_VENT_DATA ON (cc1.LEAK_OR_VENT_ID = EF_W_CENTRIF_LEAK_VENT_DATA.LEAK_OR_VENT_ID) AND (cc1.INDUSTRY_SEGMENT = EF_W_CENTRIF_LEAK_VENT_DATA.INDUSTRY_SEGMENT) AND (cc1.FACILITY_ID = EF_W_CENTRIF_LEAK_VENT_DATA.FACILITY_ID) AND (cc1.REPORTING_YEAR = EF_W_CENTRIF_LEAK_VENT_DATA.REPORTING_YEAR)
WHERE (((EF_W_CENTRIF_LEAK_VENT_DATA.SINGLE_SOURCE_OR_MANIFOLD_GRP)="single") AND ((EF_W_CENTRIF_LEAK_VENT_DATA.TABLE_NUM)="Table O.2.ii and O.4"));
                                       6
Create final query file "CC4" using the following SQL:
SELECT DISTINCT cc3.REPORTING_YEAR, cc3.FACILITY_ID, cc3.FACILITY_NAME, cc3.INDUSTRY_SEGMENT, cc3.COMPRESSOR_IDENTIFIER, cc3.COMPRESSOR_SOURCE, cc3.BLIND_FLANGES_INSTALLED, cc3.LEAK_OR_VENT_ID, cc3.SEAL_TYPE, cc2.MEASUREMENT_METHOD, cc3.SINGLE_SOURCE_OR_MANIFOLD_GRP, cc3.COMPRESSOR_MEASURED_OP_MODE, cc3.COMPRESSOR_MEASURED_NO_OP_MODE, cc3.TOTAL_OPERATING_MODE_HOURS, cc3.TOTAL_NOT_OPERATING_MODE_HOURS, cc3.LEAK_OR_VENT_EMISS_RELEASED, cc3.PERCENT_TIME_DEV_OPERATIONAL, cc3.AS_FOUND_MEASUREMENT_CONDUCTED, cc3.CONT_MEASUREMENTS_CONDUCTED, cc3.CO2_EMISSIONS_VENTED, cc3.CH4_EMISSIONS_VENTED, cc2.MEASUREMENT_DATE, cc2.MEASUREMENT_FLOW_RATE, cc2.COMPRESSOR_OPERATING_MODE, cc2.COMPRESSOR_NOT_OPERATING_MODE
FROM cc2 LEFT JOIN cc3 ON (cc2.FACILITY_ID = cc3.FACILITY_ID) AND (cc2.REPORTING_YEAR = cc3.REPORTING_YEAR) AND (cc2.INDUSTRY_SEGMENT = cc3.INDUSTRY_SEGMENT) AND (cc2.LEAK_OR_VENT_ID = cc3.LEAK_OR_VENT_ID)
WHERE (((cc3.REPORTING_YEAR)>2014));
                                       7
Export the CC4 table to Excel (or click on top left corner of table to highlight entire table, select copy, open blank excel file, select cell A1, and paste).
                                       8
Add a field for converting MEASUREMENTFLOWRATE from a text string to a numeric value.


[Federal Register Volume 77, Number 145 (Friday, July 27, 2012)]
[Notices]
[Page 44309]
[FR Doc No: 2012-18363]

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

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

[Summary Notice No. PE-2012-23]

Petition for Exemption; Summary of Petition Received

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice of petition for exemption received.

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

SUMMARY: This notice contains a summary of a petition seeking relief
from specified requirements of 14 CFR. The purpose of this notice is to
improve the public's awareness of, and participation in, this aspect of
FAA's regulatory activities. Neither publication of this notice nor the
inclusion or omission of information in the summary is intended to
affect the legal status of the petition or its final disposition.

DATES: Comments on this petition must identify the petition docket
number involved and must be received on or before August 16, 2012.

ADDRESSES: You may send comments identified by Docket Number FAA-2012-
0533 using any of the following methods:
     Government-wide rulemaking Web site: Go to http://www.regulations.gov and follow the instructions for sending your
comments electronically.
     Mail: Send comments to the Docket Management Facility;
U.S. Department of Transportation, 1200 New Jersey Avenue SE., West
Building Ground Floor, Room W12-140, Washington, DC 20590.
     Fax: Fax comments to the Docket Management Facility at
202-493-2251.
     Hand Delivery: Bring comments to the Docket Management
Facility in Room W12-140 of the West Building Ground Floor at 1200 New
Jersey Avenue SE., Washington, DC, between 9 a.m. and 5 p.m., Monday
through Friday, except Federal holidays.
    Privacy: We will post all comments we receive, without change, to
http://www.regulations.gov, including any personal information you
provide. Using the search function of our docket Web site, anyone can
find and read the comments received into any of our dockets, including
the name of the individual sending the comment (or signing the comment
for an association, business, labor union, etc.). You may review DOT's
complete Privacy Act Statement in the Federal Register published on
April 11, 2000 (65 FR 19477-78).
    Docket: To read background documents or comments received, go to
http://www.regulations.gov at any time or to the Docket Management
Facility in Room W12-140 of the West Building Ground Floor at 1200 New
Jersey Avenue SE., Washington, DC, between 9 a.m. and 5 p.m., Monday
through Friday, except Federal holidays.

FOR FURTHER INFORMATION CONTACT: Tyneka Thomas ARM-105,<PHONE_NUMBER>,
FAA, Office of Rulemaking, 800 Independence Ave SW., Washington, DC
20591. This notice is published pursuant to 14 CFR 11.85.

    Issued in Washington, DC, on July 18, 2012.
Lirio Liu,
Acting Director, Office of Rulemaking.

Petition for Exemption

    Docket No.: FAA-2012-0533.
    Petitioner: I-TEC.
    Section of 14 CFR Affected: 14 CFR part 61, Subparts J and K.
    Description of Relief Sought: The relief sought would allow pilots
who hold a sport pilot certificate and flight instructors with a sport
pilot rating to operate an ITEC Maverick SP roadable aircraft.

[FR Doc. 2012-18363 Filed 7-26-12; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register: June 14, 2007 (Volume 72, Number 114)]
[Notices]
[Page 32926]
[DOCID:fr14jn07-95]

=======================================================================
-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the
Government in the Sunshine Act, Pub. L. 94-409, that the Securities and
Exchange Commission will hold the following meetings during the week of
June 18, 2007:
    A Closed Meeting will be held on Monday, June 18, 2007 at 2 p.m.
    Commissioners, Counsel to the Commissioners, the Secretary to the
Commission, and recording secretaries will attend the Closed Meeting.
Certain staff members who have an interest in the matters may also be
present.
    The General Counsel of the Commission, or his designee, has
certified that, in his opinion, one or more of the exemptions set forth
in 5 U.S.C. 552b(c)(3), (5), (7), (8), (9)(B), and (10) and 17 CFR
200.402(a)(3), (5), (7), (8), 9(ii) and (10), permit consideration of
the scheduled matters at the Closed Meeting.
    Commissioner Casey, as duty officer, voted to consider the items
listed for the closed meeting in closed session.
    The subject matter of the Closed Meeting scheduled for Monday, June
18, 2007 will be:
    Formal orders of investigations;
    Institution and settlement of injunctive actions;
    Institution and settlement of administrative proceedings of an
enforcement nature;
    Regulatory matter regarding a financial institution;
    Resolution of litigation claims; and
    Other matters related to enforcement proceedings.
    At times, changes in Commission priorities require alterations in
the scheduling of meeting items.
    For further information and to ascertain what, if any, matters have
been added, deleted or postponed, please contact:
    The Office of the Secretary at<PHONE_NUMBER>.

    Dated: June 11, 2007.
Nancy M. Morris,
Secretary.
 [FR Doc. E7-11540 Filed 6-13-07; 8:45 am]

BILLING CODE 8010-01-P


[Federal Register: July 14, 2008 (Volume 73, Number 135)]
[Rules and Regulations]
[Page 40180-40183]
[DOCID:fr14jy08-6]

=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

44 CFR Part 65

Changes in Flood Elevation Determinations

AGENCY: Federal Emergency Management Agency, DHS.

ACTION: Final rule.

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

SUMMARY: Modified Base (1 % annual-chance) Flood Elevations (BFEs) are
finalized for the communities listed below. These modified BFEs will be
used to calculate flood insurance premium rates for new buildings and
their contents.

DATES: The effective dates for these modified BFEs are indicated on the
following table and revise the Flood Insurance Rate Maps (FIRMs) in
effect for the listed communities prior to this date.

ADDRESSES: The modified BFEs for each community are available for
inspection at the office of the Chief Executive Officer of each
community. The respective addresses are listed in the table below.

FOR FURTHER INFORMATION CONTACT: William R. Blanton, Jr., Engineering
Management Branch, Mitigation Directorate, Federal Emergency Management
Agency, 500 C Street, SW., Washington, DC 20472,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: The Federal Emergency Management Agency
(FEMA) makes the final determinations listed below of the modified BFEs
for each community listed. These modified BFEs have been published in
newspapers of local circulation and ninety (90) days have elapsed since
that publication. The Mitigation Division Director of FEMA resolved any
appeals resulting from this notification.
    The modified BFEs are not listed for each community in this notice.
However, this final rule includes the address of the Chief Executive
Officer of the community where the modified BFEs determinations are
available for inspection.
    The modified BFEs are made pursuant to section 206 of the Flood
Disaster Protection Act of 1973, 42 U.S.C. 4105, and are in accordance
with the National Flood Insurance Act of 1968, 42 U.S.C. 4001 et seq.,
and with 44 CFR part 65.
    For rating purposes, the currently effective community number is
shown and must be used for all new policies and renewals.
    The modified BFEs are the basis for the floodplain management
measures that the community is required to either adopt or to show
evidence of being already in effect in order to qualify or to remain
qualified for participation in the National Flood Insurance Program
(NFIP).
    These modified BFEs, together with the floodplain management
criteria required by 44 CFR 60.3, are the minimum that are required.
They should not be construed to mean that the community must change any
existing ordinances that are more stringent in their floodplain
management requirements. The community may at any time enact stricter
requirements of its own, or pursuant to policies established by other
Federal, State, or regional entities.
    These modified BFEs are used to meet the floodplain management
requirements of the NFIP and are also used to calculate the appropriate
flood insurance premium rates for new buildings built after these
elevations are made final, and for the contents in these

buildings. The changes in BFEs are in accordance with 44 CFR 65.4.
    National Environmental Policy Act. This final rule is categorically
excluded from the requirements of 44 CFR part 10, Environmental
Consideration. An environmental impact assessment has not been
prepared.
    Regulatory Flexibility Act. As flood elevation determinations are
not within the scope of the Regulatory Flexibility Act, 5 U.S.C. 601-
612, a regulatory flexibility analysis is not required.
    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 final rule involves no
policies that have federalism implications under Executive Order 13132,
Federalism.
    Executive Order 12988, Civil Justice Reform. This final rule meets
the applicable standards of Executive Order 12988.

List of Subjects in 44 CFR Part 65

    Flood insurance, Floodplains, Reporting and recordkeeping
requirements.

0
Accordingly, 44 CFR part 65 is amended to read as follows:

PART 65--[AMENDED]

0
1. The authority citation for part 65 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.  65.4  [Amended]

0
2. The tables published under the authority of Sec.  65.4 are amended
as follows:

--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                  Date and name of
          State and county             Location and case No.   newspaper where notice  Chief executive officer       Effective date of        Community
                                                                    was published            of community               modification             No.
--------------------------------------------------------------------------------------------------------------------------------------------------------
Arizona:
    Maricopa (FEMA Docket No.: B-     Unincorporated areas of  January 10, 2008;       The Honorable Fulton     January 4, 2008............       040037
     7772).                            Maricopa County (07-09-  January 17, 2008;       Brock, Chairman,
                                       1354P).                  Arizona Business        Maricopa County, Board
                                                                Gazette.                of Supervisors, 301
                                                                                West Jefferson Street,
                                                                                10th Floor, Phoenix,
                                                                                AZ 85003.
    Maricopa (FEMA Docket No.: B-     City of Phoenix (07-09-  January 3, 2008;        The Honorable Phil       January 14, 2008...........       040051
     7772).                            1713P).                  January 10, 2008;       Gordon, Mayor, City of
                                                                Arizona Business        Phoenix, 200 West
                                                                Gazette.                Washington Street,
                                                                                11th Floor, Phoenix,
                                                                                AZ 85003.
    Mohave (FEMA Docket No.: B-7772)  City of Kingman (07-09-  January 24, 2008;       The Honorable Lester     May 1, 2008................       040060
                                       0639P).                  January 31, 2008; The   Byram, Mayor, City of
                                                                Kingman Daily Miner.    Kingman, 310 North
                                                                                Fourth Street,
                                                                                Kingman, AZ 86401.
    Yavapai (FEMA Docket No.: B-      Town of Prescott (07-09- January 3, 2008;        The Honorable Harvey C.  December 14, 2007..........       040121
     7772).                            1453P).                  January 10, 2008;       Skoog, Mayor, Town of
                                                                Prescott Daily          Prescott Valley, 7501
                                                                Courier.                East Civic Circle,
                                                                                Prescott Valley, AZ
                                                                                86314.
    Yavapai (FEMA Docket No: B-7766)  Unincorporated areas of  December 13, 2007;      The Honorable Chip       March 20, 2008.............       040093
                                       Yavapai County (07-09-   December 20, 2007;      Davis, Chairman,
                                       1369P).                  Prescott Daily          Yavapai County Board
                                                                Courier.                of Supervisors, 1015
                                                                                Fair Street, Prescott,
                                                                                AZ 86305.
    Yavapai (FEMA Docket No.: B-      Unincorporated areas of  January 10, 2008;       The Honorable Chip       April 17, 2008.............       040093
     7772).                            Yavapai County (07-09-   January 17, 2008;       Davis, Chairman,
                                       1440P).                  Prescott Daily          Yavapai County Board
                                                                Courier.                of Supervisors, 1015
                                                                                Fair Street, Prescott,
                                                                                AZ 86305.
California:
    San Diego (FEMA Docket No.: B-    City of Chula Vista (07- January 10, 2008;       The Honorable Cheryl     December 27, 2007..........       065021
     7772).                            09-1325P).               January 17, 2008; San   Cox, Mayor, City of
                                                                Diego Daily             Chula Vista, 276
                                                                Transcript.             Fourth Avenue, Chula
                                                                                Vista, CA 91910.
    Shasta (FEMA Docket No.: B-7772)  City of Anderson (07-09- January 9, 2008;        The Honorable Keith      April 16, 2008.............       060359
                                       1860P).                  January 16, 2008;       Webster, Mayor, City
                                                                Anderson Valley Post.   of Anderson, 1887
                                                                                Howard Street,
                                                                                Anderson, CA 96007.
    Yuba (FEMA Docket No.: B-7772)..  Unincorporated areas of  January 10, 2008;       The Honorable Hal        December 26, 2007..........       060427
                                       Yuba County (07-09-      January 17, 2008; The   Stocker, Chairman,
                                       1893P).                  Appeal-Democrat.        Yuba County Board of
                                                                                Supervisors, 915
                                                                                Eighth Street, Suite
                                                                                109, Marysville, CA
                                                                                95901.
Florida: Collier (FEMA Docket No.: B- City of Naples (07-04-   February 7, 2008;       The Honorable Bill       January 28, 2008...........       125130
 7776)                                 6595P).                  February 14, 2008;      Barnett, Mayor, City
                                                                Naples Daily News.      of Naples, 735 Eighth
                                                                                Street South, Naples,
                                                                                FL 34102.
Georgia: Columbia (FEMA Docket No.:   Unincorporated areas of  December 26, 2007;      The Honorable Ron C.     April 2, 2008..............       130059
 B-7772)                               Columbia County (07-04-  January 2, 2008;        Cross, Chairman,
                                       2731P).                  Columbia County News-   Columbia County Board
                                                                Times.                  of Commissioners, P.O.
                                                                                Box 498, Evans, GA
                                                                                30809.
Illinois:
    Clinton (FEMA Docket No.: B-      Unincorporated areas of  January 24, 2008;       The Honorable Ray        January 10, 2008...........       170044
     7772).                            Clinton County (07-05-   January 31, 2008; The   Kloeckner, Chairman,
                                       6034P).                  Breese Journal.         Clinton County Board
                                                                                of Directors, 4626
                                                                                Court Road,
                                                                                Germantown, IL 62245.
    DuPage (FEMA Docket No.: B-7766)  Unincorporated areas of  December 13, 2007;      The Honorable Robert J.  March 20, 2008.............       170197
                                       DuPage County (07-05-    December 20, 2007;      Schillerstorm,
                                       2642P).                  Daily Herald.           Chairman, DuPage
                                                                                County Board, 505
                                                                                North County Farm
                                                                                Road, Wheaton, IL
                                                                                60187.
    Lake (FEMA Docket No.: B-7772)..  Unincorporated areas of  January 10, 2008;       The Honorable Suzi       April 17, 2008.............       170357
                                       Lake County (06-05-      January 17, 2008;       Schmidt, Chairman,
                                       BR72P).                  Lake County News-Sun.   Lake County Board of
                                                                                Commissioners, 18
                                                                                North County Street,
                                                                                Room 1001, Waukegan,
                                                                                IL 60085.
    Will (FEMA Docket No.: B-7772)..  Village of Plainfield    January 3, 3008;        The Honorable James A.   December 11, 2007..........       170771
                                       (07-05-5056P).           January 10, 2008;       Waldorf, President,
                                                                Herald News.            Village of Plainfield,
                                                                                24401 West Lockport
                                                                                Street, Plainfield, IL
                                                                                60544.

Indiana: Miami (FEMA Docket No.: B-   City of Peru (08-05-     December 13, 2007;      The Honorable James R.   December 31, 2007..........       180168
 7772)                                 0338P).                  December 20, 2007;      Walker, Mayor, City of
                                                                Peru Tribune.           Peru, 35 South
                                                                                Broadway, Peru, IN
                                                                                46970.
Iowa: Dallas and Polk (FEMA Docket    City of Clive (07-07-    January 18, 2008;       The Honorable Les        April 25, 2008.............       190488
 No.: B-7772)                          1800P).                  January 25, 2008; The   Aasheim, Mayor, City
                                                                Des Moines Register.    of Clive, 1900
                                                                                Northwest 114th
                                                                                Street, Clive, IA
                                                                                50325.
North Carolina:
    Wake (FEMA Docket No. B-7776)...  City of Raleigh (07-04-  February 4, 2008;       The Honorable Charles    February 29, 2008..........       370243
                                       3146P).                  February 11, 2008;      Meeker, Mayor of the
                                                                The News & Observer.    City of Raleigh, P.O.
                                                                                Box 590, Raleigh,
                                                                                North Carolina 27602.
    Wake (FEMA Docket No. B-7776)...  City of Raleigh (07-04-  February 7, 2008;       The Honorable Charles    May 14, 2008...............       370243
                                       4250P).                  February 14, 2008;      Meeker, Mayor, City of
                                                                The News & Observer.    Raleigh, P.O. Box 590,
                                                                                222 West Hargett
                                                                                Street, Raleigh, North
                                                                                Carolina 27602.
    Wake (FEMA Docket No. B-7776)...  Town of Wake Forest (07- February 7, 2008;       The Honorable Vivian     May 14, 2008...............       370244
                                       04-4250P).               February 14, 2008;      Jones, Mayor, Town of
                                                                The Wake Weekly.        Wake Forest, 401 Elm
                                                                                Avenue, Wake Forest,
                                                                                North Carolina 27587.
North Dakota:
    Burleigh (FEMA Docket No.: B-     City of Bismark (07-08-  January 10, 2008;       The Honorable John       April 17, 2008.............       380149
     7772).                            0142P).                  January 17, 2008;       Warford, Mayor, City
                                                                Bismark Tribune.        of Bismarck, P.O. Box
                                                                                5503, Bismarck, ND
                                                                                58506-5503.
    Burleigh (FEMA Docket No.: B-     Unincorporated areas of  January 10, 2008;       The Honorable Marlan     April 17, 2008.............       380017
     7772).                            Burleigh County (07-08-  January 17, 2008;       Haakenson, Chairman,
                                       0142P).                  Bismark Tribune.        Burleigh County
                                                                                Commission, 115 South
                                                                                Griffin Street,
                                                                                Bismarck, ND 58504-
                                                                                5309.
Oregon:
    Clackamas, Multnomah, Washington  City of Portland (07-10- January 9, 2008;        The Honorable Tom        January 28, 2008...........       410183
     (FEMA Docket No.: B-7772).        0004P).                  January 16, 2008; The   Potter, Mayor, City of
                                                                Gresham Outlook.        Portland, 1221
                                                                                Southwest Fourth
                                                                                Avenue, Suite 340,
                                                                                Portland, OR 97204.
    Clackamas (FEMA Docket No.: B-    City of Wilsonville (07- December 12, 2007;      The Honorable Charlotte  December 31, 2007..........       410025
     7766).                            10-0469P).               December 19, 2007;      Lehan, Mayor, City of
                                                                Wilsonville Spokesman.  Wilsonville, 29786
                                                                                Southwest Lehan Court,
                                                                                Wilsonville, OR 97070.
South Carolina: Lexington (FEMA       Lexington County (07-04- December 6, 2007;       The Honorable William    March 13, 2008.............       450129
 Docket No.: B-7772)                   5473P).                  December 13, 2007;      C. ``Billy'' Derrick,
                                                                Lexington County        Chairman, Lexington
                                                                Chronicle.              County Council, 212
                                                                                South Lake Drive,
                                                                                Lexington, SC 29072.
Texas:
    Collin (FEMA Docket No.: B-7772)  City of Allen (07-06-    January 10, 2008;       The Honorable Stephen    April 17, 2008.............       480131
                                       2412P).                  January 17, 2008; The   Terrell, Mayor, City
                                                                Allen American.         of Allen, 305 Century
                                                                                Parkway, Allen, TX
                                                                                75013.
    Collin (FEMA Docket No.: B-7772)  City of Celina (08-06-   January 3, 2008;        The Honorable Corbett    December 26, 2007..........       480133
                                       0373P).                  January 10, 2008; The   Howard, Mayor, City of
                                                                Celina Record.          Celina, 302 West
                                                                                Walnut Street, Celina,
                                                                                TX 75009.
    Collin (FEMA Docket No.: B-7766)  City of McKinney (07-06- December 13, 2007;      The Honorable Bill       March 20, 2008.............       480135
                                       1354P).                  December 20, 2007;      Whitfield, Mayor, City
                                                                McKinney Courier-       of McKinney, 222 North
                                                                Gazette.                Tennessee Street,
                                                                                McKinney, TX 75070.
    Kaufman (FEMA Docket No.: B-      City of Terrell (07-06-  January 10, 2008;       The Honorable Hal        December 31, 2007..........       480416
     7772).                            1906P).                  January 17, 2008; The   Richards, Mayor, City
                                                                Terrell Tribune.        of Terrell, P.O. Box
                                                                                310, Terrell, TX 75160.
    Montgomery (FEMA Docket No.: B-   Unincorporated areas of  January 9, 2008;        The Honorable Alan B.    April 9, 2008..............       480483
     7772).                            Montgomery County (06-   January 16, 2008; The   Sadler, Montgomery
                                       06-B643P).               Montgomery County       County Judge, 301
                                                                News.                   North Thompson Street,
                                                                                Suite 210, Conroe, TX
                                                                                77301.
    Travis (FEMA Docket No.: B-7772)  Unincorporated areas of  January 10, 2008;       The Honorable Samuel T.  April 17, 2008.............       481026
                                       Travis County (07-06-    January 17, 2008;       Biscoe, Travis County
                                       02514P).                 Austin American-        Judge, P.O. Box 1748,
                                                                Statesman.              Austin, TX 78767.
    Williamson (FEMA Docket No.: B-   Town of Hutto (07-06-    January 10, 2008;       The Honorable Kenneth    April 17, 2008.............       481047
     7772).                            0731P).                  January 17, 2008;       L. Love, Mayor, Town
                                                                Round Rock Leader.      of Hutto, 401 West
                                                                                Front Street, Hutto,
                                                                                TX 78634.
--------------------------------------------------------------------------------------------------------------------------------------------------------

(Catalog of Federal Domestic Assistance No. 97.022, ``Flood
Insurance.'')

    Dated: July 3, 2008.
Michael K. Buckley,
Deputy Assistant Administrator for Mitigation, Department of Homeland
Security, Federal Emergency Management Agency.
[FR Doc. E8-15980 Filed 7-11-08; 8:45 am]

BILLING CODE 9110-12-P


[Federal Register Volume 77, Number 98 (Monday, May 21, 2012)]
[Notices]
[Pages 30001-30002]
[FR Doc No: 2012-12201]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

 [Docket No. OR12-14-000]

PBF Holding Company LLC, Toledo Refining Company LLC v. Enbridge
Energy, Limited Partnership; Notice of Complaint

    Take notice that on May 11, 2012, pursuant to sections 1(6), 3(1),
13(1), 15(1), and 16(1) of the Interstate Commerce Act (ICA); 49 U.S.C.
App. 1(6), 3(1), 9, 13(l), 15(l), and 16(1), section 206 of the Rules
of Practice and Procedure of Federal Energy Regulatory Commission
(Commission), 18 CFR 385.206; and section 343.1(a) of the Commission's
Procedural Rules Applicable to Oil Pipeline Proceedings, 18 CFR
343.1(a), PBF Holding Company LLC and Toledo Refining Company LLC
(Complainants) collectively filed a formal complaint against Enbridge
Energy, Limited Partnership (Respondent) challenging that the
procedures and practices of the Respondent in apportioning capacity on
its ``Mainline'' crude oil pipeline system constitute an unjust and
unreasonable classification and practice and result in an undue and
unjust preference for shippers and users of heavy crude oil and undue
and unjust discrimination against shippers and users of light crude oil
in violation of the ICA, causing substantial ongoing injury to the
Complainants.
    The Complainants stated that copies of the complaint have been
served on the Respondent as listed on the Commission's list of
Corporate Officials.
    Any person desiring to intervene or to protest this filing must
file in accordance with Rules 211 and 214 of the Commission's Rules of
Practice and Procedure (18 CFR 385.211, 385.214). Protests will be
considered by the Commission in determining the appropriate action to
be taken, but will not serve to make protestants parties to the
proceeding. Any person wishing to become a party must file a notice of
intervention or motion to intervene, as

appropriate. The Respondent's answer and all interventions, or protests
must be filed on or before the comment date. The Respondent's answer,
motions to intervene, and protests must be served on the Complainants.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper using the ``eFiling'' link at http://www.ferc.gov. Persons unable to file electronically should submit an
original and 14 copies of the protest or intervention to the Federal
Energy Regulatory Commission, 888 First Street NE., Washington, DC
20426.
    This filing is accessible on-line at http://www.ferc.gov, using the
``eLibrary'' link and is available for review in the Commission's
Public Reference Room in Washington, DC. There is an ``eSubscription''
link on the Web site that enables subscribers to receive email
notification when a document is added to a subscribed docket(s). For
assistance with any FERC Online service, please email
<EMAIL_ADDRESS>or call<PHONE_NUMBER> (toll free). For
TTY, call<PHONE_NUMBER>.
    Comment Date: 5:00 p.m. Eastern Time on June 11, 2012.

    Dated: May 15, 2012.
Kimberly D. Bose,
Secretary.
[FR Doc. 2012-12201 Filed 5-18-12; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 80, Number 87 (Wednesday, May 6, 2015)]
[Notices]
[Pages 26118-26121]
[FR Doc No: 2015-10503]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-74849; File No. SR-NYSE-2015-02]

Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing of Proposed Rule Change Amending Sections 312.03(b)
and 312.04 of the NYSE Listed Company Manual To Exempt Early Stage
Companies From Having To Obtain Shareholder Approval Before Issuing
Shares for Cash to Related Parties, Affiliates of Related Parties or
Entities in Which a Related Party has a Substantial Interest

April 30, 2015.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that, on April 16, 2015, New York Stock Exchange LLC (``NYSE'' or
the ``Exchange'') filed with the Securities and Exchange Commission
(the ``Commission'') the proposed rule change as described in Items I,
II, and III below, which Items have been prepared by the self-
regulatory organization. The

Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 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 Sections 312.03(b) and 312.04 of the
NYSE Listed Company Manual (the ``Manual'') to exempt early stage
companies from having to obtain shareholder approval before issuing
shares to related parties, affiliates of related parties or entities in
which a related party has a substantial interest. The text of the
proposed rule change is available on the Exchange's Web site at
www.nyse.com, at the principal office of the Exchange, and at the
Commission's Public Reference Room.

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

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

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

1. Purpose
    The Exchange proposes to amend Sections 312.03(b) and 312.04 of the
Manual to exempt early stage companies from having to obtain
shareholder approval before selling shares for cash to related parties,
affiliates of related parties or entities in which a related party has
a substantial interest.
    The Exchange recently eliminated its Assets and Equity Test initial
listing standard and replaced it with a new initial listing standard
that permits companies to list on the Exchange if they demonstrate a
total global market capitalization of at least $200 million (the
``Global Market Capitalization Test''). Among the stated reasons for
adopting this rule change was to enable the Exchange to compete with
the Nasdaq Global Market (``Nasdaq'') for the listing of early stage
companies that do not yet meet the $75 million minimum assets and $50
million minimum stockholders' equity requirements that were required to
list under the Exchange's Assets and Equity Test that was formerly in
place.
    In the Exchange's experience, many early stage companies do not yet
generate revenues internally from sales. Instead, such companies are
largely dependent on raising funds via financing transactions, such as
an initial public offering (``IPO'') and subsequent sales of their
equity securities, in order to continue operations or to finance their
research or exploration activities. Early stage companies are hampered
in their ability to access debt financing due to their lack of cash
flows and tangible assets. It is also often difficult for them to
access the public equity markets by means of firm commitment
underwritten offerings, as many of them are ineligible for shelf
registration. Consequently, these early stage companies frequently need
to raise capital via private placement share issuances to their
founders or other significant existing shareholders or their executive
officers or directors. Under Section 312.03(b), any of these potential
investors in private placements would generally be deemed to be a
``related party'' (``Related Party'') of the listed company.\4\
Accordingly, if the private placement share issuance to any of these
Related Parties exceeds either one percent of the number of shares of
common stock or one percent of the voting power outstanding before the
issuance, the company is required by Section 312.03(b) to obtain
shareholder approval prior to the issuance.\5\
---------------------------------------------------------------------------

    \4\ For purposes of 312.03(b), a Related Party is defined as a
director, officer or substantial security holder (i.e., a holder of
5% or more of the common stock) of the company.
    \5\ Section 312.03 (b) requires shareholder approval of shares
[sic] issuances exceeding 1% to:
    (1) A Related Party;
    (2) a subsidiary, affiliate or other closely-related person of a
Related Party; or
    (3) any company or entity in which a Related Party has a
substantial direct or indirect interest.
    However, if the Related Party involved in the transaction is
classified as such solely because such person is a substantial
security holder, and if the issuance relates to a sale of stock for
cash at a price at least as great as each of the book and market
value of the issuer's common stock, then shareholder approval will
not be required unless the number of shares of common stock to be
issued, or unless the number of shares of common stock into which
the securities may be convertible or exercisable, exceeds either 5%
of the number of shares of common stock or 5% of the voting power
outstanding before the issuance.
---------------------------------------------------------------------------

    The process of obtaining shareholder approval is frequently
expensive and time consuming for listed companies. It typically takes
several months of advance preparation and requires companies to go
through an SEC review process, mail proxy statements and hold a
shareholder meeting. The delays inherent in obtaining shareholder
approval can be especially troublesome for early stage companies that
do not yet generate significant revenue from operations and may
therefore need to raise capital quickly in order to fund their ongoing
operations. Accordingly, the Exchange proposes to amend Sections
312.03(b) and 312.04 to provide early stage companies with a limited
exemption to the requirements of Section 312.02(b).
    The Exchange proposes to amend Section 312.04 to include a
definition of an ``Early Stage Company.'' An Early Stage Company will
be defined as a company that has not reported annual revenues greater
than $20 million in any two consecutive fiscal years since its
incorporation. Further, an Early Stage Company will lose that
designation at any time after listing on the Exchange that it files an
annual report with the Commission in which it reports two consecutive
fiscal years in which it has revenues greater than $20 million in each
year.\6\ The Exchange proposes to amend Section 312.03(b) to exempt
Early Stage Companies from the requirement that they obtain shareholder
approval prior to a sale of securities for cash to Related Parties,
affiliates of Related Parties, or entities in which a Related Party has
a substantial interest, provided that the Early Stage Company's audit
committee or a comparable committee comprised solely of independent
directors reviews and approves all such transactions prior to their
completion. Any issuance of securities that is not a sale for cash,
including any issuance in connection with the acquisition of stock or
assets of another company, will remain subject to the shareholder
approval provisions of Section 312.03(b). Additionally, as stated in
Section 312.04(a), an exemption from one provision of Section 312.03 is
not a general exemption from all of Section 312.03. Therefore,
notwithstanding that a transaction by an Early Stage Company may have
an exemption under Section 312.03(b), the shareholder approval
requirements of Sections 312.03(c) (requiring shareholder approval of
issuances relating to 20% or more of the company's stock) and 312.03(d)
(requiring shareholder approval of any

issuance giving rise to a change of control) will still be
applicable.\7\
---------------------------------------------------------------------------

    \6\ A company's annual financial statements prior to listing on
the Exchange will also be considered when determining if it should
lose its Early Stage Company designation. For example, if a company
files an annual report with the Commission one year after listing on
the Exchange and such annual report shows that the company has had
revenues greater than $20 million in each of two consecutive years
(even if one of those years was prior to listing on the Exchange),
the company will lose its Early Stage Company designation at that
time.
    \7\ The Exchange notes that the shareholder approval
requirements of Nasdaq and the NYSE MKT do not restrict the amount
of stock a company can sell for cash to a Related Party provided
that the price per share is at least as great as each of the book
and market value of the issuer's stock. Under the Exchange's
proposal, however, an issuer will only be able to sell up to 19.9%
of its outstanding stock to a Related Party for cash without first
obtaining shareholder approval. For sales to a Related Party equal
to or greater than 20% of the issuer's common stock, such issuer
will be subject to the shareholder approval provisions of Section
312.03(c).
---------------------------------------------------------------------------

    Further, the provisions of Section 312.03(c) apply to any
transaction or series of transactions. In applying Section 312.03(c),
the Exchange carefully reviews issuances to determine whether they are
related and should be aggregated for purposes of the rule. The Exchange
analyses [sic] the relationship between separate issuances with
particular care if they occur within a short period of time, are made
to the same or related parties, or if there is a common use of
proceeds. The Exchange would engage in this analysis with respect to
any series of sales made by an Early Stage Company to a Related Party.
Should the Exchange determine that it is necessary to aggregate the
series of sales and, as aggregated, the total number of shares sold
exceeds 19.9% of the shares outstanding, shareholder approval would be
required pursuant to Section 312.03(c).
    The Exchange believes that the proposed rule change will enable
Early Stage Companies to raise capital in an efficient manner in order
to fund their research or exploration activities or grow their business
while still being sufficiently protective of shareholders. First, under
the proposed rule change, a company will only be able to avail itself
of the exemption if it has not reported revenues greater than $20
million in any two consecutive fiscal years since its incorporation.
After listing, once a company does report revenues greater than $20
million in each of two consecutive fiscal years, it will lose its
designation as an Early Stage Company and be subject to all shareholder
approval requirements set forth in Section 312.03(b). Once the Early
Stage Company designation is lost, it cannot be regained if the subject
company later reports reduced revenues. The proposed rule change,
therefore, is narrowly tailored and not designed to benefit companies
whose revenues have diminished over time due to a decline in demand for
their products. Further, the Exchange believes that the proposed rule
change benefits shareholders of Early Stage Companies. Investors who
choose to invest in Early Stage Companies are aware that the ability to
raise additional capital in a flexible manner is crucial to the
ultimate success of these companies. It is to the benefit of these
investors, therefore, that Early Stage Companies have the ability to
raise capital quickly and inexpensively. Without the exemption afforded
by the proposed rule change, Early Stage Companies may not be able to
raise capital or may do so on less advantageous terms to the detriment
of their shareholders. Lastly, under the proposed rule, the sale of
shares for cash by and [sic] Early Stage Company to a Related Party
will only be exempt from the shareholder approval requirements of
Section 312.03(b) to the extent such Early Stage Company's audit
committee (or comparable committee comprised solely of independent
directors) has reviewed and approved such transaction prior to its
completion.
    The Exchange notes that many Early Stage Companies have
historically listed on Nasdaq or NYSE MKT. Importantly, neither Nasdaq
nor NYSE MKT has a rule comparable to Section 312.03(b) requiring that
listed companies obtain shareholder approval prior to 1% (or in certain
cases 5%) share issuances in cash sales to a Related Party.\8\ For the
reasons enumerated above, the Exchange believes that Section
312.03(b)'s current requirements are particularly onerous for Early
Stage Companies and could therefore discourage their listing on the
Exchange. Thus, the Exchange believes the proposed rule change is
necessary to enable the Exchange to compete with Nasdaq for the listing
of Early Stage Companies.
---------------------------------------------------------------------------

    \8\ Both Nasdaq and the NYSE MKT do, however, have a rule
requiring shareholder approval prior to the issuance of shares as
sole or partial consideration for an acquisition of the stock or
assets of another company if a Related Party has a 5% or greater
interest in the company or assets to be acquired and the shares to
be issued as consideration would result in an increase in shares
outstanding of 5% or more.
---------------------------------------------------------------------------

    The Exchange intends to allow any company falling within the
proposed definition of an Early Stage Company (whether listed before or
after the adoption of the Global Market Capitalization Test listing
standard) to avail itself of the proposed exemption from Section
312.03(b). The Exchange believes this is appropriate given that such
companies are in a similar stage of development and face the same
financing challenges as any companies that will benefit from the
exemption if listed subsequent to its adoption. Further, based on the
Exchange's review of companies listed on the Exchange, only a small
number of current listed companies would qualify for the exemption.
While exempting currently listed companies that qualify as Early Stage
Companies from the provisions of Section 312.03(b) removes a protection
currently afforded such companies' shareholders, the Exchange believes
that this lessened protection is desirable because of the overall
benefit of providing these companies with necessary flexibility in
raising capital. First, the Exchange believes that shareholders were
likely well aware of the ongoing capital needs of such companies at the
time of their initial investment. Early Stage Companies typically make
ample disclosure in both their offering documents and their periodic
filings, including risk factor disclosure, of their significant capital
requirements and the negative consequences of being unable to meet
those requirements. Therefore, shareholders of currently listed
companies able to avail themselves of the Early Stage Company exemption
to Section 312.03(b) will benefit from such companies having less
cumbersome access to capital in order to fund their business and
operations. Second, although currently listed companies that fall
within the definition of Early Stage Company will be exempt from the
shareholder approval requirements of Section 312.03(b), any transaction
that would have required shareholder approval under such provision will
still require the review and approval of such Early Stage Company's
audit committee or comparable committee comprised of independent
directors, thus offering an additional protection to shareholders.
Lastly, the ability of an Early Stage Company to raise money via a sale
of shares to a Related Party as opposed to via a public offering is
likely to be more cost efficient as such company will not incur
underwriting and other standard offering expenses that are incurred in
the standard public offering. The greater speed with which a private
sale can be executed also protects shareholders from the market risk
associated with a possible share price decline during a public offering
process.
    The Exchange also proposes to delete obsolete text from Section
312.03 related to a limited transition period that is no longer
relevant.
 2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with Section 6(b) \9\ of 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 foster cooperation and
coordination with persons engaged in regulating, clearing, settling,
processing information with respect to, and facilitating transactions
in securities, to remove impediments to and perfect the mechanism of a
free and open market and a national market system, and, in general, to
protect investors and the public interest. The Exchange believes that
the proposed amendment is consistent with the investor protection
objectives of Section 6(b)(5) because it creates a very limited
exemption to the NYSE's shareholder approval requirements that would be
applicable only to share issuances by a narrowly-defined category of
Early Stage Companies. The Exchange believes this amendment is
consistent with the protection of investors because: (i) Investors
investing in Early Stage Companies do so in the knowledge that those
companies do not currently generate revenue and that their ability to
continue to execute their business strategy is significantly dependent
on their ability to raise additional capital quickly and cheaply; and
(ii) issuances that would be exempt from shareholder approval under the
proposed amendment would need to be approved by an Early Stage
Company's audit committee or comparable committee comprised of
independent directors, mitigating the risk of any inappropriate
conflict of interest in the transaction.
---------------------------------------------------------------------------

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

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

    The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purpose of the Act. The proposed rule change
provides a limited exemption to the shareholder approval requirements
of Section 312.03(b) for Early Stage Companies. These companies
frequently must conduct time-sensitive capital raises in order to
continue their research or exploration activities and fund their
operations. Currently, any such company listed on the Exchange may be
required to engage in a costly and time consuming process of obtaining
shareholder approval for certain share issuances to a related party. If
the same company was listed on Nasdaq or NYSE MKT, however, it would
not be required to engage in this process as neither marketplace has a
comparable rule to Section 312.03(b). As such, the limited exemption
proposed herein would more closely align the Exchange, Nasdaq and NYSE
MKT's rule in this regard and enable the Exchange to more effectively
compete for the listing of Early Stage Companies.

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

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-NYSE-2015-02 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NYSE-2015-02. 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 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-NYSE-2015-02 and should be
submitted on or before May 27, 2015.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
---------------------------------------------------------------------------

    \11\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Brent J. Fields,
Secretary.
[FR Doc. 2015-10503 Filed 5-5-15; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: April 18, 2006 (Volume 71, Number 74)]
[Notices]
[Page 19883]
[DOCID:fr18ap06-54]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. OR06-7-000]

Eighty-Eight Oil LLC, Complainant, v. Tesoro High Plains Pipeline
Company, Respondent; Notice of Complaint

April 11, 2006.
    Take notice that on April 10, 2006, pursuant to Rule 206 of the
Commission's Rules of Practice and Procedures, 18 CFR 385.206 (2005),
and the Commission's Rules of Practice Procedure Applicable to Oil
Pipelines, 18 CFR 343.1(a), Eighty-Eight Oil LLC (Eighty-Eight) filed a
complaint in reference to Tesoro High Plains Pipeline Company's (THPPC)
denial of service to Eighty-Eight for the interstate transportation of
crude oil under THPPC's FERC Tariff No. 3.
    Eighty-Eight certifies that copies of the complaint were served on
THPPC's counsel.
    Any person desiring to intervene or to protest this filing must
file in accordance with Rules 211 and 214 of the Commission's Rules of
Practice and Procedure (18 CFR 385.211 and 385.214). Protests will be
considered by the Commission in determining the appropriate action to
be taken, but will not serve to make protestants parties to the
proceeding. Any person wishing to become a party must file a notice of
intervention or motion to intervene, as appropriate. The Respondent's
answer and all interventions, or protests must be filed on or before
the comment date. The Respondent's answer, motions to intervene, and
protests must be served on the Complainants.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper using the ``eFiling'' link at http://www.ferc.gov.
 Persons unable to file electronically should submit an

original and 14 copies of the protest or intervention to the Federal
Energy Regulatory Commission, 888 First Street, NE., Washington, DC
20426.
    This filing is accessible online at http://www.ferc.gov, using the

``eLibrary'' link and is available for review in the Commission's
Public Reference Room in Washington, DC. There is an ``eSubscription''
link on the Web site that enables subscribers to receive e-mail
notification when a document is added to a subscribed docket(s). For
assistance with any FERC Online service, please e-mail
<EMAIL_ADDRESS>or call<PHONE_NUMBER> (toll free). For

TTY, call<PHONE_NUMBER>.
    Comment Date: 5 p.m. Eastern Time on May 1, 2006.

Magalie R. Salas,
Secretary.
 [FR Doc. E6-5728 Filed 4-17-06; 8:45 am]

BILLING CODE 6717-01-P


Jeff Holmstead/ DC/ USEPA/ US TO: Chris_ shaver@ nps. gov 06/ 1/ 2005 10: 13 PM cc: Lydia Wegman, Eryn Witcher/ DC/ USEPA/ US@ EPA Subject: BART files for OMB Lisa Harrison asked me to forward these documents to you. There may be a few minor changes before they're finalized, but nothing significant at this point.

Pelase feel free to call Lydia Wegman in the morning at 919 541 5505 if you have any questions. She, or someone on her staff, can quickly summarize the differences between proposal and final. Although the changes from proposal to final cut in both directions, we believe that, under the final approach, more sources will be subject to BART.

Because of the Corngrowers decision, States have significant discretion, but we believe that sources accounting for about 97 percent of SO2 emissions from BART eligible sources will be subject to BART determinations. For NOX, coverage will likely be between 80 and 90 percent.

Forwarded by Jeff Holmstead/ DC/ USEPA/ US on 06/ 14/ 2005 10: 01 PM


[Federal Register Volume 84, Number 111 (Monday, June 10, 2019)]
[Rules and Regulations]
[Pages 26739-26741]
[FR Doc No: 2019-12121]

========================================================================
Rules and Regulations
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains regulatory documents
having general applicability and legal effect, most of which are keyed
to and codified in the Code of Federal Regulations, which is published
under 50 titles pursuant to 44 U.S.C. 1510.

The Code of Federal Regulations is sold by the Superintendent of Documents.

========================================================================

Federal Register / Vol. 84, No. 111 / Monday, June 10, 2019 / Rules
and Regulations

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 25

[Docket No. FAA-2019-0236; Special Conditions No. 25-745-SC]

Special Conditions: Boeing Model 787 Series Airplanes; Seats With
Inertia Locking Devices

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final special conditions.

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

SUMMARY: These special conditions are issued for the Boeing Model 787
series airplane. These airplanes will have a novel or unusual design
feature when compared to the state of technology envisioned in the
airworthiness standards for transport-category airplanes. This design
feature is seats with inertia locking devices. The applicable
airworthiness regulations do not contain adequate or appropriate safety
standards for this design feature. These special conditions contain the
additional safety standards that the Administrator considers necessary
to establish a level of safety equivalent to that established by the
existing airworthiness standards.

DATES: Effective June 10, 2019.

FOR FURTHER INFORMATION CONTACT: Shannon Lennon, Cabin and Airframe
Safety Section, AIR-675, Transport Standards Branch, Policy and
Innovation Division, Aircraft Certification Service, Federal Aviation
Administration, 2200 South 216th Street, Des Moines, Washington 98198;
telephone and fax<PHONE_NUMBER>; email<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

Background

    On February 14, 2019, Boeing applied for a change to Type
Certificate No. T00021SE for seats with inertia locking devices in
Model 787 series airplanes. The Model 787 series airplane is a twin-
engine transport-category airplane with a maximum takeoff weight of
560,000 pounds and seating for 440 passengers.

Type Certification Basis

    Under the provisions of title 14, Code of Federal Regulations (14
CFR) 21.101, Boeing must show that the Model 787 series airplanes, as
changed, continue to meet the applicable provisions of the regulations
listed in Type Certificate No. T00021SE, or the applicable regulations
in effect on the date of application for the change, except for earlier
amendments as agreed upon by the FAA.
    If the Administrator finds that the applicable airworthiness
regulations (i.e., 14 CFR part 25) do not contain adequate or
appropriate safety standards for Boeing Model 787 series airplanes
because of a novel or unusual design feature, special conditions are
prescribed under the provisions of Sec.  21.16.
    Special conditions are initially applicable to the model for which
they are issued. Should the type certificate for that model be amended
later to include any other model that incorporates the same novel or
unusual design feature, or should any other model already included on
the same type certificate be modified to incorporate the same novel or
unusual design feature, these special conditions would also apply to
the other model under Sec.  21.101.
    In addition to the applicable airworthiness regulations and special
conditions, Boeing Model 787 series airplanes must comply with the
fuel-vent and exhaust-emission requirements of 14 CFR part 34, and the
noise-certification requirements of 14 CFR part 36.
    The FAA issues special conditions, as defined in 14 CFR 11.19, in
accordance with Sec.  11.38, and they become part of the type
certification basis under Sec.  21.101.

Novel or Unusual Design Features

    Boeing Model 787 series airplanes will incorporate the following
novel or unusual design features:
    Seats with inertia locking devices (ILD).

Discussion

    Boeing will install, in Model 787 series airplanes, Thompson Aero
Seating Ltd. passenger seats that can be translated in the fore and aft
direction by an electrically powered motor (actuator) that is attached
to the seat primary structure. Under typical service-loading
conditions, the motor internal brake is able to translate the seat and
hold the seat in the translated position. However, under the inertial
loads of emergency-landing loading conditions specified in 14 CFR
25.562, the motor internal brake may not be able to maintain the seat
in the required position. The ILD is an ``active'' device intended to
control seat movement (i.e., a system that mechanically deploys during
an impact event) to lock the gears of the motor assembly in place. The
ILD mechanism is activated by the higher inertial load factors that
could occur during an emergency landing event. Each seat place
incorporates two ILDs; one on either side of the seat pan. Only one ILD
is required to hold an occupied seat in position during worst-case
dynamic loading specified in Sec.  25.562.
    The ILD will self-activate only in the event of a predetermined
airplane loading condition such as that occurring during crash or
emergency landing, and will prevent excessive seat forward translation.
A minimum level of protection must be provided if the seat-locking
device does not deploy.
    The normal means of satisfying the structural and occupant
protection requirements of Sec.  25.562 result in a non-quantified, but
predictable, progressive structural deformation or reduction of injury
severity for impact conditions less than the maximum specified by the
rule. A seat using ILD technology, however, may involve a step change
in protection for impacts below and above that at which the ILD
activates and deploys to retain the seat pan in place. This could
result in structural deformation or occupant injury output being higher
at an intermediate impact condition than that resulting from the
maximum impact condition. It is acceptable for such step-change
characteristics to exist, provided the resulting output does not exceed
the maximum allowable criteria at any condition at which the ILD does
or does not deploy, up to the maximum severity pulse specified by the
requirements.
    The ideal triangular maximum severity pulse is defined in Advisory
Circular (AC) 25.562-1B. For the evaluation and testing of less-severe

pulses for purposes of assessing the effectiveness of the ILD
deployment setting, a similar triangular pulse should be used with
acceleration, rise time, and velocity change scaled accordingly. The
magnitude of the required pulse should not deviate below the ideal
pulse by more than 0.5g until 1.33 t1 is reached, where
t1 represents the time interval between 0 and t1
on the referenced pulse shape as shown in AC 25.562-1B. This is an
acceptable method of compliance to the test requirements of the special
conditions.
    Conditions 1 through 5 address ensuring that the ILD activates when
intended in order to provide the necessary protection of occupants.
This includes protection of a range of occupants under various accident
conditions. Conditions 6 through 10 address maintenance and reliability
of the ILD, including any outside influences on the mechanism, to
ensure it functions as intended.
    The special conditions contain the additional safety standards that
the Administrator considers necessary to establish a level of safety
equivalent to that established by the existing airworthiness standards.

Discussion of Comments

    The FAA issued Notice of Proposed Special Conditions No. 25-19-03-
SC, for the Boeing Model 787 series airplane, which was published in
the Federal Register on April 29, 2019 (84 FR 17977). The FAA received
responses from two commenters.
    One commenter writes:
    Seats are dynamically tested in upright positions to show
compliance with 14 CFR part 25.562. In this specific installation,
there is a mechanical or electrical actuation of the movement of the
seat, and the following points of concern may raise:
    (1) If the motor loses electrical power before a crash during an
actuation, can it lock the seat in a position other than that
considered for [taxi, takeoff, and landing] TTL?
    (2) There should be included a Special Condition to address
possible interference of lightning and high-intensity radiated fields
on the motor or its commands;
    (3) Design features should be demanded to avoid the seat to be
locked in an intermediate position (for example, because of fail in
link between the seat structure and the actuator).
    The FAA clarifies, regarding the commenter's concerns about seat-
actuator motor disability and impact on the seat position due to loss
of power or other conditions, the seat design includes a manual-
override feature to restore the seat in the required position. However,
while the actuator motor is part of the seat-actuation system, this
feature is not the subject of the proposed special conditions. Rather,
the special conditions address the ILDs, which are a different
component of the seat-actuation system and are intended to ensure that
the seat position is maintained in the event that the structural
capability of the actuator motor brake is exceeded during emergency-
landing conditions. The ILDs are a mechanical interlock feature and are
not affected by loss of power or external electrical forces.
    Another commenter asks if such extra safety precautions as ILDs may
potentially be implemented in other airplane models, adding that seats
with inertia locking devices likely enhance air-travel safety.
    The FAA agrees that ILDs enhance airplane safety. It is possible
that ILDs potentially will be incorporated into seat designs intended
for installation on other airplane models. Incorporation of such a
feature is contingent on the airplane manufacturer's determination to
install seats that include ILDs as part of a seat-actuation system.
    The comments do not change the special conditions, and the special
conditions are adopted as proposed.

Applicability

    As discussed above, these special conditions are applicable to
Boeing Model 787 series airplanes. Should Boeing apply at a later date
for a change to the type certificate to include another model
incorporating the same novel or unusual design feature, these special
conditions would apply to that model as well.

Conclusion

    This action affects only one novel or unusual design feature on one
model series of airplanes. It is not a rule of general applicability.

List of Subjects in 14 CFR Part 25

    Aircraft, Aviation safety, Reporting and recordkeeping
requirements.

Authority Citation

    The authority citation for these special conditions is as follows:

    Authority: 49 U.S.C. 106(f), 106(g), 40113, 44701, 44702, 44704.

The Special Conditions

    Accordingly, pursuant to the authority delegated to me by the
Administrator, the following special conditions are issued as part of
the type certification basis for Boeing Model 787 series airplanes.
    In addition to the requirements of Sec.  25.562, passenger seats
incorporating an inertia locking device (ILD) must meet the following:
    1. Level of Protection Provided by ILD--It must be demonstrated by
test that the seats and attachments, when subject to the emergency-
landing dynamic conditions specified in Sec.  25.562, and with one ILD
not deployed, do not experience structural failure that could result
in:
    a. Separation of the seat from the airplane floor.
    b. Separation of any part of the seat that could form a hazard to
the seat occupant or any other airplane occupant.
    c. Failure of the occupant restraint or any other condition that
could result in the occupant separating from the seat.
    2. Protection Provided Below and Above the ILD Actuation
Condition--If step-change effects on occupant protection exist for
impacts below and above that at which the ILD deploys, tests must be
performed to demonstrate that the occupant is shown to be protected at
any condition at which the ILD does or does not deploy, up to the
maximum severity pulse specified by Sec.  25.562. Test conditions must
take into account any necessary tolerances for deployment.
    3. Protection Over a Range of Crash Pulse Vectors--The ILD must be
shown to function as intended for all test vectors specified in Sec.
25.562.
    4. Protection During Secondary Impacts--The ILD activation setting
must be demonstrated to maximize the probability of the protection
being available when needed, considering a secondary impact that is
above the severity at which the device is intended to deploy up to the
impact loading required by Sec.  25.562.
    5. Protection of Occupants other than 50th Percentile--Protection
of occupants for a range of stature from a two-year-old child to a
ninety-five percentile male must be shown.
    6. Inadvertent Operation--It must be shown that any inadvertent
operation of the ILD does not affect the performance of the device
during a subsequent emergency landing.
    7. Installation Protection--It must be shown that the ILD
installation is protected from contamination and interference from
foreign objects.
    8. Reliability--The performance of the ILD must not be altered by
the effects of wear, manufacturing tolerances, aging or drying of
lubricants, and corrosion.
    9. Maintenance and Functional Checks--The design, installation, and
operation of the ILD must be such that it is possible to functionally
check the

device in place. Additionally, a functional check method and a
maintenance check interval must be included in the seat installer's
instructions for continued airworthiness (ICA) document.
    10. Release Function--If a means exists to release an inadvertently
activated ILD, the release means must not introduce additional hidden
failures that would prevent the ILD from functioning properly.

    Issued in Des Moines, Washington, on June 5, 2019.
Paul Siegmund,
Acting Manager, Transport Standards Branch, Policy and Innovation
Division, Aircraft Certification Service.
[FR Doc. 2019-12121 Filed 6-7-19; 8:45 am]
 BILLING CODE 4910-13-P


[Federal Register Volume 88, Number 186 (Wednesday, September 27, 2023)]
[Notices]
[Pages 66480-66481]
[FR Doc No: 2023-21008]

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

DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

[Internal Agency Docket No. FEMA-4712-DR; Docket ID FEMA-2023-0001]

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

AGENCY: Federal Emergency Management Agency, DHS.

ACTION: Notice.

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

SUMMARY: This notice amends the notice of a major disaster declaration
for the State of Tennessee (FEMA-4712-DR), dated May 17, 2023, and
related determinations.

DATES: This change occurred on August 15, 2023.

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

SUPPLEMENTARY INFORMATION: The Federal Emergency Management Agency
(FEMA) hereby gives notice that pursuant to the authority vested in the
Administrator, under Executive Order 12148, as amended, Yolanda J.
Jackson, of FEMA is appointed to act as the Federal Coordinating
Officer for this disaster.
    This action terminates the appointment of Andrew D. Friend as
Federal Coordinating Officer for this disaster.

    The following Catalog of Federal Domestic Assistance Numbers
(CFDA) are to be used for reporting and drawing funds: 97.030,
Community Disaster Loans; 97.031, Cora Brown Fund; 97.032, Crisis
Counseling; 97.033, Disaster Legal Services; 97.034, Disaster
Unemployment Assistance (DUA);

97.046, Fire Management Assistance Grant; 97.048, Disaster Housing
Assistance to Individuals and Households In Presidentially Declared
Disaster Areas; 97.049, Presidentially Declared Disaster
Assistance--Disaster Housing Operations for Individuals and
Households; 97.050, Presidentially Declared Disaster Assistance to
Individuals and Households--Other Needs; 97.036, Disaster Grants--
Public Assistance (Presidentially Declared Disasters); 97.039,
Hazard Mitigation Grant.

Deanne Criswell,
Administrator, Federal Emergency Management Agency.
[FR Doc. 2023-21008 Filed 9-26-23; 8:45 am]
BILLING CODE 9111-23-P


[Federal Register Volume 79, Number 103 (Thursday, May 29, 2014)]
[Notices]
[Pages 30920-30921]
[FR Doc No: 2014-12420]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-72224; File No. SR-DTC-2014-04]

Self-Regulatory Organizations; The Depository Trust Company;
Order Approving Proposed Rule Change to Effect Changes to the DTC
Settlement Service Guide Relating to the Automated Customer Account
Transfer Service of National Securities Clearing Corporation

May 22, 2014.

I. Introduction

    On March 27, 2014, The Depository Trust Company (``DTC'') 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\ proposed rule change SR-DTC-2014-04
(``Proposed Rule Change'') \3\ to implement changes to the DTC
Settlement Service Guide (``Guide'') that conform with proposed changes
to the Automated Customer Account Transfer Service (``ACATS'') of
National Securities Clearing Corporation (``NSCC''),\4\ a DTC
affiliate. The Proposed Rule Change was published for comment in the
Federal Register on April 11, 2014.\5\ The Commission did not receive
comments to the Proposed Rule Change. This order approves the Proposed
Rule Change.\6\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ DTC will announce the implementation of this Proposed Rule
Change via an Important Notice to DTC participants
(``Participants'').
    \4\ NSCC filed a corresponding proposed rule change with the
Commission. See Release No. 34-71887 (Mar. 27, 2014), 79 FR 20290
(Apr. 11, 2014) (SR-NSCC-2014-04) (``NSCC Proposal'').
    \5\ Release No. 34-71886 (Mar. 27, 2014), 79 FR 20260 (Apr. 11,
2014) (SR-DTC-2014-04).
    \6\ Terms not defined herein have the meaning set forth in DTC's
Rules, By-Laws, and Organization Certificate (``Rules''), available
at http://dtcc.com/~/media/Files/Downloads/legal/rules/dtc--
rules.ashx.
---------------------------------------------------------------------------

II. Description

A. Current ACATS Process

    ACATS is an NSCC service that interfaces with DTC for the delivery
of customer \7\ securities from the account of one Participant (that is
also an NSCC member (``Member'')) to another Participant (that is also
a Member). Under the NSCC Proposal, customer account transfers with
respect to two types of DTC-eligible securities will be processed
through a new NSCC accounting operation (``ACATS Settlement Accounting
Operation'') on an ACATS settlement date. Because of the NSCC Proposal,
conforming changes are required to the Guide.
---------------------------------------------------------------------------

    \7\ For purposes of the Proposed Rule Change, ``customer''
refers to an accountholder of a Participant whose account is
transferred to another Participant by an ACATS transaction.
---------------------------------------------------------------------------

    The key provision of the NSCC Proposal impacting DTC is that ACATS
transactions will no longer have an associated incentive charge applied
to them by NSCC as the transactions are processed.\8\ As such, an ACATS
transfer will no longer present a funds settlement risk to NSCC or DTC;
thus, ACATS transfers will be processed by DTC free of payment.
Accordingly, DTC proposes to change the applicable procedures in the
Guide, as described below. Additionally, the Proposed Rule Change
includes clarifications in the Guide with respect to the protection of
customer securities processed through ACATS.
---------------------------------------------------------------------------

    \8\ See NSCC Proposal, 79 FR 20290.
---------------------------------------------------------------------------

B. Proposed DTC Rule Changes

Elimination of Short Cover Charge
    An ``ACATS short cover charge'' is a dollar amount guaranteed by
NSCC to DTC for the value of securities delivered from a Participant's
DTC account to NSCC for processing by NSCC through its Continuous Net
Settlement system (``CNS''). Because ACATS transfers will be entirely
free of payment under the NSCC proposal as described above, a provision
in the Guide relating to the processing of ``ACATS short cover
charges'' will be deleted, with related adjustments to references to
the DTC Collateral Monitor.\9\
---------------------------------------------------------------------------

    \9\ These adjustments reduce a Participant's Collateral Monitor
with respect to its net ACATS short positions at the start of ACATS
settlement date. The Participant then receives credit in its
Collateral Monitor for ACATS deliveries as they occur throughout the
day.
---------------------------------------------------------------------------

Elimination of Long Allocation Reversals
    At NSCC, under current rules, long allocations of securities made
via CNS may be reversed if the NSCC Member receiving the securities
fails to meet its NSCC money settlement obligation. Because ACATS
transactions will not generate any funds settlement obligations, this
reversal is eliminated. The provision in the Guide describing the NSCC
reversal will be deleted.
Memo Seg Optionality
    Memo Seg is a systemic mechanism that allows Participants to
prevent inventory that is not subject to a lien or claim of DTC
(``Minimum Amount'' or ``MA'') from falling below a certain number of
units.\10\ In order to extend the Memo Seg option to securities
received via ACATS transfers, the Guide will be revised to provide that
a Participant may increase its number of units designated for
protection under Memo Seg to reflect ACATS receipts.
---------------------------------------------------------------------------

    \10\ Memo Seg is offered by DTC to its Participants to support
their control of fully-paid customer securities, although its
effectiveness for that purpose depends entirely on the Participant's
management of its accounts.
---------------------------------------------------------------------------

Clarification with Respect to MA Securities
    ACATS transfers are not subject to any lien or claims by DTC
because they are transferred free of payment. Upon receipt into a
Participant account, the securities constitute MA securities pursuant
to the Rules.\11\ The Guide currently uses the term ``Deemed MA'' to
reflect this condition. This terminology is no longer necessary
because, under the NSCC Proposal, a funds obligation no longer attaches
to ACATS transactions. Accordingly, the term ``Deemed MA'' will be
deleted from the Guide, and a new section of the Guide will confirm
that ACATS securities received by a Participant will, by virtue of the
ACATS transfer, be credited to the Participant's receiving account as
MA.\12\
---------------------------------------------------------------------------

    \11\ Securities received through the ACATS Settlement Accounting
Operation are not counted as part of the Participant's Collateral
Monitor, unless and until the receiving Participant, in accordance
with the Rules, designates those securities as Net Additions
(``NA'').
    \12\ In this regard, a Participant accepting an ACATS free
delivery automatically designates the subject securities as MA
securities. Therefore, such securities are not counted in the
Collateral Monitor of the Participant. It should be noted that the
Participant may re-designate the securities as NA or deliver them
versus payment in which case these securities will be counted in the
Participant's Collateral Monitor.

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

Other Clarifications
    The Guide will be revised to clarify the descriptions of CNS Short
Covers and Long Allocations and their effect on Participant collateral
and the Collateral Monitor.

III. Discussion and Commission Finding

    Section 19(b)(2)(C) of the Act \13\ directs the Commission to
approve a proposed rule change of a self-regulatory organization if it
finds that such proposed rule change is consistent with the
requirements of the Act and rules and regulations thereunder applicable
to such organization. Section 17A(b)(3)(F) of the Act requires that the
rules of a clearing agency be designed to, among other things,
``promote the prompt and accurate clearance and settlement of
securities transactions and . . . to assure the safeguarding of
securities and funds which are in the custody or control of the
clearing agency or for which it is responsible.'' \14\ Further,
Commission Rule 17Ad-22(d)(12) requires that registered clearing
agencies ``establish, implement, maintain and enforce written policies
and procedures reasonable designed to, as applicable . . . [e]sure that
final settlement occurs no later than the end of the settlement day;
and require that intraday or real-time finality be provided where
necessary to reduce risks.'' \15\
---------------------------------------------------------------------------

    \13\ 15 U.S.C. 78s(b)(2)(C).
    \14\ 15 U.S.C. 78q-1(b)(3)(F).
    \15\ 17 CFR 240.17Ad-22(d)(12).
---------------------------------------------------------------------------

    The Commission finds that the Proposed Rule Change is consistent
with those requirements because the changes, which will conform to the
changes proposed by NSCC in establishing a new ACATS processing
system,\16\ will enable DTC to complete ACATS transfers free of
payment, thus streamlining DTC's related processes, as described above.
Therefore, the Proposed Rule Change will promote the prompt and
accurate clearance and settlement of ACATS transfers, while supporting
finality of such transfers at DTC on settlement day.
---------------------------------------------------------------------------

    \16\ See NSCC Proposal, 79 FR 20290.
---------------------------------------------------------------------------

IV. Conclusion

    On the basis of the foregoing, the Commission finds that the
proposal is consistent with the requirements of the Act and in
particular with the requirements of Section 17A of the Act \17\ and the
rules and regulations thereunder.
---------------------------------------------------------------------------

    \17\ In approving this proposed rule change, the Commission has
considered the proposed rule's impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
---------------------------------------------------------------------------

    It is therefore ordered, pursuant to Section 19(b)(2) of the Act,
that the proposed rule change SR-DTC-2014-04 be, and it hereby is,
approved.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\18\
---------------------------------------------------------------------------

    \18\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-12420 Filed 5-28-14; 8:45 am]
BILLING CODE 8011-01-P