[Federal Register Volume 80, Number 63 (Thursday, April 2, 2015)]
[Notices]
[Pages 17795-17797]
[FR Doc No: 2015-07517]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-74595; File No. SR-NYSEArca-2015-04]

Self-Regulatory Organizations; NYSE Arca, Inc.; Order Approving
Proposed Rule Change, as Modified by Amendment No. 1, Relating to the
Listing and Trading of Shares of the Innovator IBD[supreg] 50 Fund
Under NYSE Arca Equities Rule 8.600

March 27, 2015.
    On January 30, 2015, NYSE Arca, Inc. (the ``Exchange'' or ``NYSE
Arca'') filed with the Securities and Exchange Commission
(``Commission''), pursuant to Section 19(b)(1) of the Securities
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a
proposed rule change to list and trade shares (``Shares'') of the
Innovator IBD[supreg] 50 Fund (``Fund''). On February 12, 2015, the
Exchange filed Amendment No. 1 to the proposed rule change, which
amended and replaced the proposal in its entirety. The proposed rule
change was published for comment in the Federal Register on February
20, 2015.\3\ No comments on the proposal have been received. This order
approves the proposed rule change, as modified by Amendment No. 1.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 74278 (February 13,
2015), 80 FR 9294.
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I. The Exchange's Description of the Proposed Rule Change

    The Exchange proposes to list and trade the Shares under NYSE Arca
Equities Rule 8.600, which governs the listing and trading of Managed
Fund Shares on the Exchange. The Shares will be offered by Academy
Funds Trust (the ``Trust''), an open-end management investment
company.\4\ The Fund will issue and sell Shares only in ``Creation
Unit'' size at the NAV next determined after receipt, on any business
day, of an order in proper form.\5\
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    \4\ The Trust is registered under the 1940 Act. On October 9,
2014 and on December 19, 2014, the Trust filed with the Commission
amendments to its registration statement on Form N-1A under the
Securities Act of 1933 (15 U.S.C. 77a) (``Securities Act'') and
under the 1940 Act relating to the Fund (File Nos. 333-146827 and
811-22135) (``Registration Statement''). In addition, the Commission
has issued an order granting certain exemptive relief to the Trust
under the 1940 Act. See Investment Company Act Release No. 31248
(September 9, 2014) (File No. 812-14308) (``Exemptive Order'').
    \5\ A Creation Unit consists of 25,000 Shares, and the size of a
Creation Unit is subject to change. See Notice, supra note 3, 80 FR
at 9296.
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    The investment adviser to the Fund will be Innovator Management LLC
(the ``Adviser''). Penserra Capital Management LLC will be the Fund's
sub-adviser (``Sub-Adviser''). Neither the Adviser nor the Sub-Adviser
is registered as a broker-dealer. The Adviser is not affiliated with a
broker-dealer. The Sub-Adviser is affiliated with a broker-dealer and
has implemented a ``fire wall'' with respect to such broker-dealer
regarding access to information concerning the composition of or
changes to the Fund's portfolio.\6\ U.S. Bank, N.A.(the
``Administrator'' or ``Custodian'') will serve as the administrator,
custodian and transfer agent for the Fund. Quasar Distributors, LLC
will be the principal underwriter and distributor of the Shares.
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    \6\ Commentary .06 to Rule 8.600 provides that, if the
investment adviser to the investment company issuing Managed Fund
Shares is affiliated with a broker-dealer, such investment adviser
shall erect a ``fire wall'' between the investment adviser and the
broker-dealer with respect to access to information concerning the
composition and/or changes to such investment company portfolio. In
addition, Commentary .06 requires that personnel who make decisions
on the open-end fund's portfolio composition must be subject to
procedures designed to prevent the use and dissemination of material
nonpublic information regarding the open-end fund's portfolio.
Commentary .06 to Rule 8.600 is similar to Commentary .03(a)(i) and
(iii) to NYSE Arca Equities Rule 5.2(j)(3); however, Commentary .06
in connection with the establishment of a ``fire wall'' between the
investment adviser and the broker-dealer reflects the applicable
open-end fund's portfolio, not an underlying benchmark index, as is
the case with index-based funds. The Exchange states that, in the
event (a) the Adviser or the Sub-Adviser becomes a registered
broker-dealer or becomes newly affiliated with a broker-dealer, or
(b) any new adviser or any sub-adviser is a registered broker-dealer
or becomes affiliated with a broker-dealer, it will implement a fire
wall with respect to its relevant personnel or its broker-dealer
affiliate regarding access to information concerning the composition
and/or changes to the Fund's portfolio, and will be subject to
procedures designed to prevent the use and dissemination of material
non-public information regarding such portfolio.
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    The investment objective of the Fund will be to seek long-term
capital appreciation. Under normal circumstances,\7\ the Fund will
invest at least 80% of its net assets in companies included in the
IBD[supreg] 50 Index (``Index'') and in U.S. exchange-traded
equities.\8\ Typically, the Fund will hold U.S. exchange-traded common
stocks as well as U.S. exchange-traded master limited partnerships
(``MLPs''), real estate investment trusts (``REITs''), royalty trusts
and business development companies (``BDCs''). It will invest primarily
in U.S. equity securities but may, to a lesser extent, invest in equity
securities of foreign companies in both developed and emerging markets,
generally through American depositary receipts (``ADRs''). The Fund may
invest in companies of any size.
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    \7\ The term ``under normal circumstances'' means, without
limitation, the absence of extreme volatility or trading halts in
the equity markets or the financial markets generally; operational
issues causing dissemination of inaccurate market information; or
force majeure type events such as systems failure, natural or man-
made disaster, act of God, armed conflict, act of terrorism, riot or
labor disruption or any similar intervening circumstance.
    \8\ The Index is a computer-generated stock index published by
Investor's Business Daily[supreg] (``IBD[supreg]''). IBD[supreg]
uses proprietary fundamental and technical ratings to compile what
IBD[supreg] considers the 50 leading growth companies that trade on
U.S. national securities exchanges. Companies included in the Index
must meet minimum earnings, sales, profit margin, volume and
technical requirements.
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    Other Portfolio Holdings. The Fund may invest in money market
securities for liquidity and cash management purposes or if the Adviser
or Sub-Adviser determines that securities meeting the Fund's investment
objective and policies are not otherwise readily available for
purchase. Money market securities include (i) short-term U.S.
government securities; (ii) commercial paper rated in the highest
short-term rating category by a nationally recognized statistical
ratings

organization (``NRSRO''), such as Standard & Poor's or Moody's, or
determined by the Adviser or Sub-Adviser to be of comparable quality at
the time of purchase; (iii) short-term bank obligations (certificates
of deposit, time deposits and bankers' acceptances) of U.S. domestic
banks, foreign banks and foreign branches of domestic banks, and
commercial banks with assets of at least $1 billion as of the end of
their most recent fiscal year; (iv) repurchase agreements involving
such securities; and (v) money market mutual funds.
    The Fund may invest in securities of other investment companies
(other than BDCs), including shares of the following: (1) Exchange-
traded funds (``ETFs''), unit investment trusts, and closed-end
investment companies, each of which will be listed and traded on a U.S.
national securities exchange, and (2) non-exchange-listed open-end
investment companies.

II. Discussion

    After careful review, the Commission finds that the proposed rule
change is consistent with the requirements of Section 6 of the Act and
the rules and regulations thereunder applicable to a national
securities exchange.\9\ In particular, the Commission finds that the
proposed rule change is consistent with Section 6(b)(5) of the Act,
which requires, among other things, that the Exchange's rules be
designed to prevent fraudulent and manipulative acts and practices, to
promote just and equitable principles of trade, to remove impediments
to and perfect the mechanism of a free and open market and a national
market system, and, in general, to protect investors and the public
interest. The Commission also finds that the proposal to list and trade
the Shares on the Exchange is consistent with Section 11A(a)(1)(C)(iii)
of the Act, which sets forth Congress's finding that it is in the
public interest and appropriate for the protection of investors and the
maintenance of fair and orderly markets to assure the availability to
brokers, dealers, and investors of information with respect to
quotations for, and transactions in, securities.
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    \9\ 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).
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    Quotation and last-sale information for the Shares and U.S.
exchange-listed equity securities will be available via the
Consolidated Tape Association (``CTA'') high-speed line, and will be
available from the national securities exchange on which they are
listed.\10\ The Exchange represents that intra-day and closing price
information relating to the investments of the Fund will be available
from major market data vendors and from securities exchanges, as
applicable.\11\ Further, the Portfolio Indicative Value, as defined in
NYSE Arca Equities Rule 8.600(c)(3), based on current information
regarding the value of the securities and other assets in the Disclosed
Portfolio, will be widely disseminated at least every 15 seconds during
the Core Trading Session by one or more major market data vendors.\12\
The Custodian, through the National Securities Clearing Corporation
(``NSCC'') will make available on each business day, prior to the
opening of business on the Exchange (currently 9:30 a.m., Eastern
time), the list of the names and the required number of shares of each
Deposit Security to be included in the current Fund Deposit \13\ (based
on information at the end of the previous business day) for the
Fund.\14\ In addition, a basket composition file, which includes the
security names and share quantities (as applicable) required to be
delivered in exchange for Shares, together with estimates and actual
cash components, will be publicly disseminated daily prior to the
opening of the NYSE via the NSCC.\15\ The NAV of the Fund will be
calculated at the close of regular trading (ordinarily 4:00 p.m.
Eastern time) every day the New York Stock Exchange is open for
trading.\16\ Information regarding market price and trading of the
Shares will be continually available on a real-time basis throughout
the day on brokers' computer screens and other electronic services.\17\
Information regarding the previous day's closing price and trading
volume information for the Shares will be published daily in the
financial section of newspapers.\18\
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    \10\ See Notice, supra note 3, 80 FR at 9298.
    \11\ See id. Price information regarding money market mutual
funds will be available from on-line sources and from the Web site
for the applicable fund. See id.
    \12\ The Exchange understands that several major market data
vendors display or make widely available Portfolio Indicative Values
taken from CTA or other data feeds. See id., n.26.
    \13\ The ``Fund Deposit'' is the consideration for purchase of
Creation Units of the Fund, which generally will consist of the in-
kind deposit of a designated portfolio of equity securities and an
amount of cash. See id. at 9296-97.
    \14\ See id. at 9297.
    \15\ See id. at 9298.
    \16\ See id. at 9296.
    \17\ See id. at 9298.
    \18\ See id.
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    The Commission further believes that the proposal to list and trade
the Shares is reasonably designed to promote fair disclosure of
information that may be necessary to price the Shares appropriately and
to prevent trading when a reasonable degree of transparency cannot be
assured. The Commission notes that the Exchange will obtain a
representation from the issuer of the Shares that the NAV per Share of
the Fund will be calculated daily and that the NAV and the Disclosed
Portfolio will be made available to all market participants at the same
time. In addition, trading in the Shares would be subject to NYSE Arca
Equities Rule 8.600(d)(2)(D), which set forth circumstances under which
trading in the Shares may be halted. Trading may be halted because of
market conditions or for reasons that, in the view of the Exchange,
make trading in the Shares inadvisable.\19\ Further, the Commission
notes that the Adviser, as the Reporting Authority, that provides the
Disclosed Portfolio must implement and maintain, or be subject to,
procedures designed to prevent the use and dissemination of material,
non-public information regarding the actual components of the Fund's
portfolio.\20\ In addition, the Exchange may obtain information
regarding trading in the Shares and underlying exchange-traded equity
securities from markets and other entities that are members of
Intermarket Surveillance Group (``ISG'') or with which the Exchange has
in place a comprehensive surveillance sharing agreement.\21\ The
Exchange represents that it prohibits the distribution of material non-
public information by its employees. The Exchange represents that the
Adviser is not a registered broker-dealer and is not affiliated with
any broker-dealers. The Exchange represents that the Sub-Adviser is
affiliated with a broker-dealer and has implemented a ``fire wall''
with respect to such broker-dealer regarding access to information
concerning the composition of or changes to the Fund's portfolio.\22\
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    \19\ These may include: (1) The extent to which trading is not
occurring in the securities and/or the financial instruments
comprising the Disclosed Portfolio of the Fund; or (2) whether other
unusual conditions or circumstances detrimental to the maintenance
of a fair and orderly market are present. See id.
    \20\ See NYSE Arca Equities Rule 8.600(d)(2)(B)(ii).
    \21\ For a list of the current members of ISG, see
www.isgportal.org. The Exchange notes that not all components of the
Disclosed Portfolio for the Fund may trade on markets that are
members of ISG or with which the Exchange has in place a
comprehensive surveillance sharing agreement.
    \22\ The Exchange also represents that, in the event that (a)
the Adviser or the Sub-Adviser becomes a registered broker-dealer or
becomes newly affiliated with a broker-dealer, or (b) any new
adviser or any sub-adviser is a registered broker-dealer or becomes
affiliated with a broker-dealer, it will implement a fire wall with
respect to its relevant personnel or its broker-dealer affiliate
regarding access to information concerning the composition and/or
changes to the Fund's portfolio, and will be subject to procedures
designed to prevent the use and dissemination of material non-public
information regarding such portfolio. See Notice, supra note 3, 80
FR at 9300.

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    The Exchange deems the Shares to be equity securities, thus
rendering trading in the Shares subject to the Exchange's existing
rules governing the trading of equity securities. Additionally, in
support of its proposal, the Exchange has made the following
representations:
    (1) The Shares will conform to the initial and continued listing
criteria under NYSE Arca Equities Rule 8.600.
    (2) The Exchange has appropriate rules to facilitate transactions
in the Shares during all trading sessions.
    (3) The Exchange has in place surveillance procedures that are
adequate to properly monitor trading in the Shares in all trading
sessions and to deter and detect violations of Exchange rules and
applicable federal securities laws.
    (4) Financial Industry Regulatory Authority (``FINRA''), on behalf
of the Exchange, will communicate as needed regarding trading in the
Shares and underlying exchange-traded equity securities with other
markets and other entities that are members of the ISG, and FINRA, on
behalf of the Exchange, may obtain trading information regarding
trading in the Shares, underlying exchange-traded equity securities,
from such markets and other entities.
    (5) Prior to the commencement of trading, the Exchange will inform
its Equity Trading Permit Holders in an Information Bulletin
(``Bulletin'') of the special characteristics and risks associated with
trading the Shares. Specifically, the Bulletin will discuss the
following: (1) The procedures for purchases and redemptions of Shares
in Creation Unit aggregations (and that Shares are not individually
redeemable); (2) NYSE Arca Equities Rule 9.2(a), which imposes a duty
of due diligence on its Equity Trading Permit Holders to learn the
essential facts relating to every customer prior to trading the Shares;
(3) the risks involved in trading the Shares during the Opening and
Late Trading Sessions when an updated Portfolio Indicative Value will
not be calculated or publicly disseminated; (4) how information
regarding the Portfolio Indicative Value is disseminated; (5) the
requirement that Equity Trading Permit Holders deliver a prospectus to
investors purchasing newly issued Shares prior to or concurrently with
the confirmation of a transaction; and (6) trading information.
    (6) The Exchange represents that, for initial and continued
listing, the Fund will be in compliance with Rule 10A-3 \23\ under the
Act, as provided by NYSE Arca Equities Rule 5.3.
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    \23\ 17 CFR 240.10A-3.
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    (7) The Fund may hold up to an aggregate amount of 15% of its net
assets (calculated at the time of investment) in assets deemed illiquid
by the Adviser, consistent with Commission guidance.
    (8) A minimum of 100,000 Shares of each Fund will be outstanding at
the commencement of trading on the Exchange.
    (9) Not more than 10% of the net assets of the Fund in the
aggregate invested in exchange-traded equity securities shall consist
of equity securities whose principal market is not a member of the ISG
or is a market with which the Exchange does not have a comprehensive
surveillance sharing agreement.
    (10) The Fund will not invest in options, futures contracts or
swaps agreements.
    (11) The Fund will not invest in leveraged or inverse leveraged
(e.g., 2X, -2X, 3X or -3X) ETFs.
    This approval order is based on all of the Exchange's
representations and description of the Funds.
    For the foregoing reasons, the Commission finds that the proposed
rule change, as modified by Amendment No. 1, is consistent with Section
6(b)(5) of the Act and the rules and regulations thereunder applicable
to a national securities exchange.

III. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the Act,
that the proposed rule change (SR-NYSEArca-2015-04), as modified by
Amendment No. 1, be, and it hereby is, approved.
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    \24\ 17 CFR 200.30-3(a)(57).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\24\
Brent J. Fields,
Secretary.
[FR Doc. 2015-07517 Filed 4-1-15; 8:45 am]
BILLING CODE CODE 8011-01-P


[Federal Register Volume 81, Number 100 (Tuesday, May 24, 2016)]
[Notices]
[Page 32820]
[FR Doc No: 2016-12290]

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SECURITIES AND EXCHANGE COMMISSION

[File No. 500-1]

 In the Matter of NuTech Energy Resources, Inc.; Order of
Suspension of Trading

May 20, 2016.
    It appears to the Securities and Exchange Commission that there is
a lack of current and accurate information concerning the securities of
NuTech Energy Resources, Inc. (``NERG'') because of concerns regarding
the accuracy and adequacy of information in the marketplace about the
company's operations and the company's recent public announcements
concerning an unsolicited tender offer. NERG is a Delaware corporation
with its principal place of business located in Gillette, Wyoming. Its
stock is quoted on OTC Link, operated by OTC Markets Group Inc., under
the ticker: NERG.
    The Commission is of the opinion that the public interest and the
protection of investors require a suspension of trading in the
securities of the above-listed company.
    Therefore, it is ordered, pursuant to Section 12(k) of the
Securities Exchange Act of 1934, that trading in the securities of the
above-listed company is suspended for the period from 9:30 a.m. EDT on
May 20, 2016, through 11:59 p.m. EDT on June 3, 2016.

    By the Commission.
Lynn M. Powalski,
Deputy Secretary.
[FR Doc. 2016-12290 Filed 5-20-16; 11:15 am]
 BILLING CODE 8011-01-P


[Federal Register: April 26, 2011 (Volume 76, Number 80)]
[Notices]
[Page 23349-23351]
[DOCID:fr26ap11-88]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-64311; File No. SR-NASDAQ-2011-052]

Self-Regulatory Organizations; The NASDAQ Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Eliminate the Expire Time

April 20, 2011.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on April 14, 2011, The NASDAQ Stock Market LLC (``NASDAQ'' or the
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the Exchange. The
Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.

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

    NASDAQ is filing with the Commission a proposal for the NASDAQ
Options Market (``NOM'') to amend Chapter VI, Trading Systems, Section
1, Definitions, and Section 6, Acceptance of Quotes and Orders, to
eliminate the ``Time in Force'' designation called ``Expire Time.''
    This change is scheduled to be implemented on NOM on or about
August 1, 2011; the Exchange will announce the implementation schedule
by Options Trader Alert, once the rollout schedule is finalized.
    The text of the proposed rule change is available at
nasdaq.cchwallstreet.com, at NASDAQ's principal office, and at the
Commission's Public Reference Room.

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

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

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

1. Purpose
    The purpose of the proposed rule change is to eliminate the Expire
Time. Currently, Chapter VI, Section 1(g) provides that the term ``Time
in Force'' means the period of time that the System will hold an order
for potential execution. Time in force conditions, which are listed in
subsections 1(g)(1)--(5), include Expire Time, Immediate or Cancel,
Good-till-Cancelled and WAIT. At this time, ``Expire Time'' (or
``EXPR'') is being eliminated. Expire Time means that, for orders so
designated, that if after entry into the System, the order is not fully
executed, the order (or the unexecuted portion thereof) shall remain
available for potential display and/or execution for the amount of time
specified by the entering Participant unless canceled by the entering
party. EXPR Orders are currently available for entry from the time
prior to market open specified by the Exchange on its Web site until
market close Eastern Time and for execution from 9:30 a.m. until market
close. Chapter VI, Section 6, Acceptance of Quotes and Orders, also
currently refers to Expire Time in subsection (a)(1), which is also
proposed to be amended to eliminate the reference to Expire Time.
    The Exchange proposes to eliminate Expire Time, as part of some
technological changes to NOM's trading system intended to enhance the
system as a whole. The Exchange has determined not to incorporate this
functionality into its enhanced trading system, because the same result
can be achieved by Participants cancelling their orders directly. Also,
the Exchange believes that this proposed rule change as well as other
notification to Participants will serve to notify Participants of this
change. The other Time in Force conditions will continue to be
available.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b) of the Act \3\ in general, and furthers the objectives of Section
6(b)(5) of the Act \4\ in particular, in that it is designed to prevent
fraudulent and manipulative acts and practices, to promote just and
equitable principles of trade, to foster cooperation and coordination
with persons engaged in facilitating transactions in securities, and to
remove impediments to and perfect the mechanisms of a free and open
market and a national market system, and, in general, to protect
investors and the public interest. The Exchange believes that the
proposal is appropriate and reasonable, because, although it eliminates
a time in force condition, this functionality is not required under the
Act; the Exchange has determined to eliminate it and believes that this
should have no detrimental effect, because it is not widely used.
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    \3\ 15 U.S.C. 78f(b).
    \4\ 15 U.S.C. 78f(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition

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

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

    Written comments were neither solicited nor received.

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

    Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days after the date of the filing, or such
shorter time as the Commission may designate, it has become effective
pursuant to Section 19(b)(3)(A) of the Act \5\ and Rule 19b-4(f)(6) \6\
thereunder.
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    \5\ 15 U.S.C. 78s(b)(3)(A).
    \6\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
The Exchange has satisfied this requirement.
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    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings to
determine whether the proposed rule should be approved or disapproved.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://
www.sec.gov/rules/sro.shtml); or
     Send an e-mail to<EMAIL_ADDRESS>Please include
File Number SR-NASDAQ-2011-052 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NASDAQ-2011-052. This
file number should be included on the subject line if e-mail is used.
To help the Commission process and review your comments more
efficiently, please use only one method. The Commission will post all
comments on the Commission's

Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the
submission, all subsequent amendments, all written statements with
respect to the proposed rule change that are filed with the Commission,
and all written communications relating to the proposed rule change
between the Commission and any person, other than those that may be
withheld from the public in accordance with the provisions of 5 U.S.C.
552, will be available for Web site viewing and printing in the
Commission's Public Reference Room, 100 F Street, NE., Washington, DC
20549, on official business days between the hours of 10 a.m. and 3
p.m. Copies of the filing also will be available for inspection and
copying at the principal offices 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-NASDAQ-2011-052 and
should be submitted on or before May 17, 2011.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(12).
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Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-9970 Filed 4-25-11; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 86, Number 64 (Tuesday, April 6, 2021)]
[Notices]
[Pages 17823-17828]
[FR Doc No: 2021-06092]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. RM16-17-000]

Data Collection for Analytics and Surveillance and Market-Based
Rate Purposes

AGENCY: Federal Energy Regulatory Commission.

ACTION: Proposed revision of collected information; request for
comments.

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SUMMARY: The Federal Energy Regulatory Commission (Commission) proposes
to collect additional data from certain market-based rate (MBR) sellers
with ultimate upstream affiliates that have been granted blanket
authorization. The Commission proposes revisions to the data dictionary
that accompanies the relational database established in Order No. 860
to include new requirements for those MBR sellers to report connections
to an entity whose securities were acquired pursuant to the blanket
authorization. In addition, the Commission plans to request approval
from the Office of Management and Budget (OMB) for this collection of
information.

DATES: Comments are due June 7, 2021.

ADDRESSES: Comments, identified by docket number, may be filed in the
following ways. Electronic filing through http://www.ferc.gov, is
preferred.
     Electronic Filing: Documents must be filed in acceptable
native applications and print-to-PDF, but not in scanned or picture
format.
     For those unable to file electronically, comments may be
filed by USPS mail or by hand (including courier) delivery.
    [cir] Mail via U.S. Postal Service Only: Addressed to: Federal
Energy Regulatory Commission, Secretary of the Commission, 888 First
Street NE, Washington, DC 20426.
    [cir] Hand (Including Courier) Delivery: Deliver to: Federal Energy
Regulatory Commission, 12225 Wilkins Avenue, Rockville, MD 20852.
    The Comment Procedures Section of this document contains more
detailed filing procedures.

FOR FURTHER INFORMATION CONTACT:
Ryan Stertz (Technical Information), Office of Energy Market
Regulation, Federal Energy Regulation Commission, 888 First Street NE,
Washington, DC 20426,<PHONE_NUMBER><EMAIL_ADDRESS>Regine Baus (Legal Information), Office of the General Counsel, Federal
Energy Regulation Commission, 888 First Street NE, Washington, DC
20426,<PHONE_NUMBER><EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:
    1. In this Notice, the Commission requests comments on a proposal
to collect additional data from certain market-based rate (MBR) sellers
(Sellers) \1\ through revisions to the data dictionary and XML schema
that accompany the relational database established in Order No. 860
(MBR Data Dictionary).\2\ Specifically, the Commission proposes
revisions to the MBR Data Dictionary to require that Sellers whose
ultimate upstream affiliate(s) \3\ own their voting securities pursuant
to a section 203(a)(2) blanket authorization, provide in the relational
database the docket number of the section 203(a)(2) blanket
authorization, and the utility ID types and the utility IDs of the
upstream affiliates whose securities were acquired pursuant to that
section 203(a)(2) blanket authorization.\4\
---------------------------------------------------------------------------

    \1\ A Seller is defined as any person that has authorization to
or seeks authorization to engage in sales for resale of electric
energy, capacity or ancillary services at market-based rates under
section 205 of the Federal Power Act (FPA). 18 CFR 35.36(a)(1); 16
U.S.C. 824d.
    \2\ Data Collection for Analytics & Surveillance & Mkt.-Based
Rate Purposes, Order No. 860, 168 FERC ] 61,039 (2019), order on
reh'g and clarification, Order No. 860-A, 170 FERC ] 61,129 (2020).
    \3\ ``Ultimate upstream affiliate'' is defined as the furthest
upstream affiliate(s) in the ownership chain--i.e., each of the
upstream of affiliate(s) of a Seller, who itself does not have 10%
or more of its outstanding securities owned, held or controlled,
with power to vote, by any person (including an individual or
company). Order No. 860, 168 FERC ] 61,039 at P 5 n.10; see also 18
CFR 35.36(a)(10). ``Upstream affiliate'' means any entity described
in Sec.  35.36(a)(9)(i). 18 CFR 35.36(a)(10).
    \4\ For purposes of this order, ``utilities'' are defined as
transmitting utilities, electric utility companies, or holding
company systems containing such entities.
---------------------------------------------------------------------------

I. Background

    2. On July 18, 2019, the Commission issued Order No. 860, which
revised certain aspects of the substance and format of information
Sellers submit to the Commission for market-based rate purposes. Among
other things, the Commission adopted the approach to collect market-
based rate information in a relational database.\5\ The Commission also
specified that any significant changes to the MBR Data Dictionary will
be proposed in a Commission order or rulemaking, which would provide an
opportunity for comment.\6\
---------------------------------------------------------------------------

    \5\ Order No. 860, 168 FERC ] 61,039 at P 4.
    \6\ Id. P 220.
---------------------------------------------------------------------------

    3. In support, the Commission explained that the relational
database

construct provides for a more modern and flexible format for the
reporting and retrieval of information. The Commission noted that
Sellers will be linked to their market-based rate affiliates through
common ultimate upstream affiliate(s) and that, through this linkage,
the relational database will allow for the automatic generation of a
complete asset appendix based solely on the information submitted into
the relational database.\7\
---------------------------------------------------------------------------

    \7\ Order No. 860, 168 FERC ] 61,039 at PP 5-6. ``Once a Seller
identifies its own assets, the assets of its affiliates without
market-based rate authority, and its ultimate upstream affiliate(s),
the relational database will contain sufficient information to allow
the Commission to identify all of that Seller's affiliates (i.e.,
those with a common ultimate upstream affiliate) to create a
complete asset appendix for the Seller, which includes all of its
affiliates' assets.'' Id. P 40.
---------------------------------------------------------------------------

    4. The Commission required that, as part of its market-based rate
application or baseline submission, a Seller must identify through the
relational database its ultimate upstream affiliate(s). Because this is
a characteristic the Commission will rely upon in granting market-based
rate authority, the Commission specified that Sellers must also inform
the Commission when they have a new ultimate upstream affiliate as part
of their change in status reporting obligations. The Commission also
required that any new ultimate upstream affiliate information must also
be submitted into the relational database and any changes updated on a
monthly basis.\8\
---------------------------------------------------------------------------

    \8\ Id. P 121.
---------------------------------------------------------------------------

II. Discussion

A. Petition for Declaratory Order

    5. In Docket No. EL21-14-000, NextEra Energy, Inc., American
Electric Power Company, Inc., Evergy, Inc., Exelon Corporation, and
Xcel Energy Services Inc. on behalf of Xcel Energy Inc. (Petitioners)
filed a petition for declaratory order (Petition) regarding, among
other things, affiliation under FPA section 205 of an institutional
investor that has been granted blanket authorization under FPA section
203(a)(2). Specifically, Petitioners request that the Commission find
that no affiliation arises under section 205 when institutional
investors acquire up to 20% of the voting securities of utilities
pursuant to a section 203(a)(2) blanket authorization order.
    6. While we are denying the Petition in a concurrently issued
order, we are providing guidance that will address, in part, the
concerns Petitioners raise.\9\ As discussed more fully in the order
denying the Petition, we disagree with Petitioners that no affiliation
arises under section 205 when institutional investors acquire up to 20%
of the voting securities of utilities pursuant to a section 203(a)(2)
blanket authorization order.\10\ However, we agree with Petitioners
that, as a result of the conditions in a section 203(a)(2) blanket
authorization order, the institutional investors subject to that order
lack the ability to control the utilities whose voting securities they
acquire. Accordingly, because those conditions prevent institutional
investors from exercising control over those utilities, utilities
commonly owned by an institutional investor are not affiliates of each
other under 18 CFR 35.36(a)(9)(iv),\11\ so long as their institutional
investor owners remain under the conditions imposed in its section
203(a)(2) blanket authorization order. As a result, the Commission's
various affiliate restrictions would not apply between utilities,
including market-based rate sellers, whose securities are owned by a
common institutional investor pursuant to a section 203(a)(2) blanket
authorization.\12\
---------------------------------------------------------------------------

    \9\ NextEra Energy, Inc., 174 FERC ] 61,213 (2021) (NextEra).
    \10\ Id.
    \11\ Under Sec.  35.36(a)(9)(iv), an affiliate of a specified
company can also mean ``[a]ny person that is under common control
with the specified company.'' 18 CFR 35.36(a)(9)(iv).
    \12\ This does not mean that such utilities could never be
considered affiliates based on other factors. For example, if public
utilities have a common upstream affiliate whose ownership of those
public utilities is not subject to a section 203(a)(2) blanket
authorization, these public utilities are affiliates of each other
under 18 CFR 35.36(a)(9)(iv). See NextEra, 174 FERC ] 61,213 at P 52
n.80.
---------------------------------------------------------------------------

    7. However, the relational database, as contemplated under Order
Nos. 860 and 860-A, does not provide for a method to distinguish
between ultimate upstream affiliates and those ultimate upstream
affiliates that acquired the securities of the Seller through a section
203(a)(2) blanket authorization. Accordingly, we propose changes to the
MBR Data Dictionary so that the relational database can accurately
reflect the affiliations, or lack of affiliation, among Sellers for
which their ultimate upstream affiliate is an institutional investor
who acquired their securities pursuant to a section 203(a)(2) blanket
authorization.

B. Changes to the MBR Data Dictionary

    8. We propose to collect certain data in the relational database
for purposes of generating accurate asset appendices when the voting
securities of a Seller or a Seller's upstream affiliate have been
acquired, 10% or more, pursuant to a section 203(a)(2) blanket
authorization. This new requirement would only be required for Sellers
with upstream affiliates whose securities have been acquired, 10% or
more, pursuant to a section 203(a)(2) blanket authorization; thus,
there will be no burden on other Sellers.
    9. Specifically, this Notice proposes to update the MBR Data
Dictionary and add three new attributes to the Entities to Entities
table. These new attributes are: The blanket authorization docket
number, and the utility ID types and the utility IDs of the utilities
whose securities were purchased under the corresponding blanket
authorization docket number. The appropriate Sellers would be required
to submit the docket number of the proceeding in which the Commission
granted the section 203(a)(2) blanket authorization and the upstream
affiliate whose securities were acquired pursuant to the section
203(a)(2) blanket authorization.
    10. We believe that these new attributes are necessary to prevent
the connection of unaffiliated entities when auto-generating asset
appendices, consistent with our findings in NextEra. The draft of the
Entities to Entities table in MBR Data Dictionary which describes these
fields in detail is attached in Appendix A. We seek comment on these
changes.
    11. We anticipate that the MBR Data Dictionary with appropriate
validations will be posted on the Commission website upon issuance of a
final order in this proceeding.

C. Impact on the Asset Appendix

    12. As discussed in Order No. 860, the relational database will
auto-generate a Seller's asset appendix based on the information that
is submitted into the relational database.\13\ Currently, the ultimate
upstream affiliate information is used to connect affiliates through
this common affiliate in all instances. However, as currently
constructed, the relational database would erroneously link companies
through common ultimate upstream affiliates when the securities of a
Seller's upstream affiliate were acquired pursuant to a section
203(a)(2) blanket authorization. Consistent with our findings in
NextEra, we propose that, under these circumstances, the relational
database instead link MBR affiliates through the upstream affiliate
whose securities were acquired pursuant to the section 203(a)(2)
blanket authorization, with the aim of providing the information
needed, while limiting the burden.
---------------------------------------------------------------------------

    \13\ Order No. 860, 168 FERC ] 61,039 at P 16 n.26.

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

III. Information Collection Statement

    13. The Paperwork Reduction Act (PRA) \14\ requires each federal
agency to seek and obtain Office of Management and Budget (OMB)
approval before undertaking a collection of information directed to ten
or more persons or contained in a rule of general applicability. OMB
regulations \15\ require approval of certain information collection
requirements imposed by agency rules. Upon approval of a collection of
information, OMB will assign an OMB control number and an expiration
date. Respondents subject to the filing requirements of this proposal
will not be penalized for failing to respond to this collection of
information unless the collection of information displays a valid OMB
control number.
---------------------------------------------------------------------------

    \14\ 44 U.S.C. 3501-3520.
    \15\ 5 CFR 1320.
---------------------------------------------------------------------------

    14. We plan to request OMB approval for a revision of FERC-919A
(Refinements to Policies and Procedures for Market Based Rates for
Wholesale Sales of Electric Energy, Capacity and Ancillary Services by
Public Utilities), OMB Control Number 1902-0317. We solicit comments on
the Commission's need for this information, whether the information
will have practical utility, the accuracy of the provided burden
estimates, ways to enhance the quality, utility, and clarity of the
information to be collected, and any suggested methods for minimizing
respondents' burden, including the use of automated information
techniques.
    15. The proposal in this Notice will affect Sellers that have
ultimate upstream affiliates that hold their voting securities pursuant
to section 203(a)(2) blanket authorizations. Sellers continue to be
required to report institutional investors who own 10% percent or more
of their voting shares pursuant to section 203(a)(2) blanket
authorizations as their reportable ultimate upstream affiliate in the
relational database. However, the proposal herein would also require
these Sellers to identify their upstream affiliate(s) whose securities
have been acquired, 10% or more, pursuant to a section 203(a)(2)
blanket authorization. This requirement includes submitting into the
relational database the docket number of the order granting the
institutional investor section 203(a)(2) blanket authorization, the
identifier of the upstream affiliate(s) whose securities were acquired
pursuant to the section 203(a)(2) blanket authorization, and the type
of identifier reported. The proposal would not impose any additional
reporting requirements for Sellers whose ultimate upstream affiliates
do not hold their voting securities pursuant to section 203(a)(2)
blanket authorizations.
    16. There are approximately 2,647 Sellers that will submit
information into the relational database. Six institutional investors
currently have section 203(a)(2) blanket authorizations, which
collectively own approximately 110 upstream affiliates that themselves
own Sellers. We are estimating an average of four Sellers affected for
every upstream affiliate, equaling 440 total sellers. Under this
proposal, Sellers whose ultimate upstream affiliates hold their voting
securities pursuant to section 203(a)(2) blanket authorizations would
be required to report the upstream affiliate(s) whose securities have
been acquired pursuant to a section 203(a)(2) blanket authorization,
and certain information pertaining to the institutional investors, as
described above.
    17. Burden Estimate: The estimated burden and cost \16\ for the
requirements proposed in this Notice follow. Our estimate is limited to
the proposal to require Sellers reporting institutional investors with
section 203(a)(2) blanket authorizations as their ultimate upstream
affiliates to add information on the upstream affiliate(s) whose
securities have been acquired pursuant to a section 203(a)(2) blanket
authorization in the above-noted fields within the relational database.
---------------------------------------------------------------------------

    \16\ The estimated hourly cost burden for respondents--$93.08--
is the average of mean hourly wages from May 2019 Bureau of Labor
Statistics (BLS) data at http://www.bls.gov/oes/current/oes_nat.htm,
and BLS benefits data at http://www.bls.gov/news.release/ecec.nr0.htm for the following occupations: Legal Occupations (23-
0000), Computer and Information Systems Managers (11-3021), Computer
and Mathematical Occupations (15-0000), and Information and Record
Clerks (43-4199).
---------------------------------------------------------------------------

    18. The following table summarizes the average estimated annual
burden and cost changes due to this notice seeking comments and
includes the estimate from Order 860 being replaced here: \17\
---------------------------------------------------------------------------

    \17\ We estimate that the additional burden of reporting this
information will have a net decrease in overall burden because
sellers will no longer be affiliated through common ultimate
upstream affiliates with blanket authorizations, as contemplated in
Order Nos. 860 and 860-A. We conservatively estimate that the net
effect on the impacted sellers reporting this information will be
zero.

--------------------------------------------------------------------------------------------------------------------------------------------------------
                                    Number of       Number of       Number of                         Hourly cost      Total annual
 Respondent/incremental  burden    respondents    responses per  responses (B *   Burden hours per      ($) per     burden hours (D *  Total cost ($) (F
            category                  \18\         respondent          C)             response         response             E)                * G)
A.                                           B.              C.              D.  E................              F.  G................  H.
--------------------------------------------------------------------------------------------------------------------------------------------------------
 First Year, proposed incremental cost associated with the collection of reporting connections to an entity whose securities were acquired pursuant to a
                                          blanket authorization (Increase due to this notice seeking comments)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Impacted Sellers, as proposed               440               1             440  2................           93.08  880..............  81,910.40.
 in this Notice.
--------------------------------------------------------------------------------------------------------------------------------------------------------
               Ongoing collection of reporting connections to an entity whose securities were acquired pursuant to a blanket authorization
--------------------------------------------------------------------------------------------------------------------------------------------------------
Impacted Sellers, as proposed               440               1             440  68...............           93.08  29,920...........  2,784,953.60.
 in this Notice.
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                  Original estimate in Order 860, being replaced by the estimates above in this Notice
--------------------------------------------------------------------------------------------------------------------------------------------------------
Original estimate in Order 860,             440               1            -440  70 [former                  93.08  -29,920 [former    -2,866,864.00
 being replaced by & subtracted                                                   estimate, being                    estimate, being    [former
 in this Notice--Impacted                                                         replaced].                         replaced].         estimate, being
 Sellers Original Estimate \19\.                                                                                replaced].
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                  Cost Difference from Original      -81,910.40
                                      Estimate in Order 860        [reduction].
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                   First Year Incremental Cost       81,910.40.
                                    Total, due to this Notice
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                      Net (of above 2 rows)                  0.
                                  Additional Cost, due to this
                                             Notice
--------------------------------------------------------------------------------------------------------------------------------------------------------

IV. Environmental Analysis
---------------------------------------------------------------------------

    \18\ We are estimating an average of four sellers affected for
every upstream affiliate, equaling 440 total sellers.
    \19\ Order No. 860, 168 FERC ] 61,039 at P 323.
---------------------------------------------------------------------------

    19. The Commission is required to prepare an Environmental
Assessment or an Environmental Impact Statement for any action that may
have a significant adverse effect on the human environment.\20\ The
Commission has categorically excluded certain actions from these
requirements as not having a significant effect on the human
environment.\21\ The actions proposed here fall within a categorical
exclusion in the Commission's regulations, i.e., they involve
information gathering, analysis, and dissemination.\22\ Therefore,
environmental analysis is unnecessary and has not been performed.
---------------------------------------------------------------------------

    \20\ Regulations Implementing the National Environmental Policy
Act, Order No. 486, 52 FR 47897 (Dec. 17, 1987), FERC Stats. & Regs.
] 30,783 (1987).
    \21\ Id.
    \22\ 18 CFR 380.4.
---------------------------------------------------------------------------

V. Regulatory Flexibility Act

    20. The Regulatory Flexibility Act of 1980 (RFA) \23\ generally
requires a description and analysis of proposed rules that will have
significant economic impact on a substantial number of small entities.
The RFA mandates consideration of regulatory alternatives that
accomplish the stated objectives of a proposed rule and minimize any
significant economic impact on a substantial number of small entities.
In lieu of preparing a regulatory flexibility analysis, an agency may
certify that a proposed rule will not have a significant economic
impact on a substantial number of small entities.
---------------------------------------------------------------------------

    \23\ 5 U.S.C. 601-612.
---------------------------------------------------------------------------

    21. The Small Business Administration's (SBA) Office of Size
Standards develops the numerical definition of a small business.\24\
The SBA size standard for electric utilities is based on the number of
employees, including affiliates.\25\ Under SBA's current size
standards, an electric utility (one that falls under NAICS codes 221122
[electric power distribution, with a small business threshold of 1,000
employees], 221121 [electric bulk power transmission and control, with
a small business threshold of 500 employees], or 221118 [other electric
power generation, with a small business threshold of 250 employees])
\26\ are small if it, including its affiliates, employs 1,000 or fewer
people.\27\
---------------------------------------------------------------------------

    \24\ 13 CFR 121.101.
    \25\ 13 CFR 121.101.
    \26\ The North American Industry Classification System (NAICS)
is an industry classification system that Federal statistical
agencies use to categorize businesses for the purpose of collecting,
analyzing, and publishing statistical data related to the U.S.
economy. United States Census Bureau, North American Industry
Classification System, https://www.census.gov/eos/www/naics/.
    \27\ 13 CFR 121.201 (Sector 22--Utilities). To be conservative,
we are using a small business threshold of 1,000 employees.
---------------------------------------------------------------------------

    22. Of the 440 affected entities discussed above, we estimate that
none of these will be small entities. Therefore, no small entities will
incur additional cost due to this Notice. Accordingly, we certify that
this Notice will not have a significant economic impact on a
substantial number of small entities.

VI. Comment Procedures

    23. The Commission invites interested persons to submit comments on
the matters and issues proposed in this notice to be adopted, including
any related matters or alternative proposals that commenters may wish
to discuss. Comments are due June 7, 2021. Comments must refer to
Docket No. RM16-17-000, and must include the commenter's name, the
organization they represent, if applicable, and their address in their
comments. All comments will be placed in the Commission's public files
and may be viewed, printed, or downloaded remotely as described in the
Document Availability section below. Commenters on this proposal are
not required to serve copies of their comments on other commenters.
    24. The Commission encourages comments to be filed electronically
via the eFiling link on the Commission's website at http://www.ferc.gov. The Commission accepts most standard word processing
formats. Documents created electronically using word processing
software should be filed in native applications or print-to-PDF format
and not in a scanned format. Commenters filing electronically do not
need to make a paper filing.

    25. Commenters that are not able to file comments electronically
may file an original of their comment by USPS mail or by courier-or
other delivery services. For submission sent via USPS only, filings
should be mailed to: Federal Energy Regulatory Commission, Office of
the Secretary, 888 First Street NE, Washington, DC 20426. Submission of
filings other than by USPS should be delivered to: Federal Energy
Regulatory Commission, 12225 Wilkins Avenue, Rockville, MD 20852.

VII. Document Availability

    26. In addition to publishing the full text of this document in the
Federal Register, the Commission provides all interested persons an
opportunity to view and/or print the contents of this document via the
internet through the Commission's Home Page (http://www.ferc.gov). At
this time, the Commission has suspended access to the Commission's
Public Reference Room due to the President's March 13, 2020
proclamation declaring a National Emergency concerning the Novel
Coronavirus Disease (COVID-19).
    27. From the Commission's Home Page on the internet, this
information is available on eLibrary. The full text of this document is
available on eLibrary in PDF and Microsoft Word format for viewing,
printing, and/or downloading. To access this document in eLibrary, type
the docket number excluding the last three digits of this document in
the docket number field.
    28. User assistance is available for eLibrary and the Commission's
website during normal business hours from the Commission's Online
Support at<PHONE_NUMBER> (toll free at 1-866-208-3676) or email at
<EMAIL_ADDRESS>or the Public Reference Room at (202) 502-
8371, TTY<PHONE_NUMBER>. Email the Public Reference Room at
<EMAIL_ADDRESS>
    By direction of the Commission.

    Issued: March 18, 2021.
Kimberly D. Bose,
Secretary.

                                        Appendix A--Draft Data Dictionary Updating the Entities to Entities Table
       [Mapping of reporting entities to ultimate upstream affiliates (gray rows auto-populated by database system were removed for readability)]
--------------------------------------------------------------------------------------------------------------------------------------------------------
    entities_to_entities
-----------------------------       Description           Identifier type       Nullable        SQL type             Format             Validations
   No.         Attribute
--------------------------------------------------------------------------------------------------------------------------------------------------------
6.......  record_type_cd....  Indicates whether this   Options List:          N            CHARACTER (6).....  NA...............  Must either be ``New''
                               is a new submission or   New.........                                                       or ``Update'' if
                               a submission to update   Update......                                                       information is
                               an existing record.                                                                                included in this
                                                                                table.
7.......  reference_id......  Identifier of existing   .....................  Y            INTEGER...........  .................  Required if
                               record being updated.                                                                               record_type_cd is
                                                                                ``Update.'' Must
                                                                                match an existing
                                                                                entry from the
                                                                                ``Entities to
                                                                                Entities ID'' column
                                                                                of the Entities to
                                                                                Entities Submitted
                                                                                Data Table, found
                                                                                here.
8.......  reportable_entity_  User selects one of the  Options List:          N            CHARACTER (3).....  .................  Must be ``CID,''
           ID_type_CD.         three identifier types   CID.........                                                       ``LEI,'' or ``GID.''
                               it will provide for      LEI.........
                               these 2 fields:          GID.........
                              --Company Identifier/
                               CID of the reportable
                               entity. (Required if
                               available.).
                              --Legal Entity
                               Identifier/LEI of the
                               reportable entity.
                               (Required if available
                               and CID is not
                               available.).
                              --FERC generated ID/GID
                               of the reportable
                               entity. (Required if
                               CID and LEI are not
                               available.).
9.......  reportable_entity_  CID, LEI, or GID for     Foreign Key (CID)....  N            CHARACTER (7).....  .................  Must match an active
           ID.                 the entity being        Foreign Key (LEI)....               CHARACTER (20)....                      record identifier.
                               reported.               Foreign Key (GID)....               CHARACTER (10)....                      These identifiers can
                                                                                be found using
                                                                                General Search, found
                                                                                here.
10......  Blanket_Auth_Docke  Docket number of the     .....................  Y            CHARACTER VARYING   XXXX-X-XXX;        Required if the
           t_Number.           section 203(a)(2)                                            (15).              XXXX-XX-XXX;.....   Reportable Entity
                               blanket authorization.                                                          XXXX-XXX-XXX; or.   received a 203(a)(2)
                                                                                XXXX-XXXX-XXX....   blanket
                                                                                authorization.
                                                                                Common relationships
                                                                                through ultimate
                                                                                upstream affiliates
                                                                                with these
                                                                                authorizations do not
                                                                                impact a seller's
                                                                                Asset Appendix.
11......  Utility_ID_Type_CD  User selects one of the  Options List           Y            CHARACTER (3).....  .................  Required if the
                               three identifier types   CID.........                                                       Reportable Entity
                               it will provide for      LEI.........                                                       received a 203(a)(2)
                               these 2 fields:          GID.........                                                       blanket
                              --Company Identifier/                                                                                authorization.
                               CID of the reportable                                                                              Must be either
                               entity. (Required if                                                                                ``CID,'' ``LEI,'' or
                               available.).                                                                                ``GID.''
                              --Legal Entity
                               Identifier/LEI of the
                               reportable entity.
                               (Required if available
                               and CID is not
                               available.).
                              --FERC generated ID/GID
                               of the reportable
                               entity. (Required if
                               CID and LEI are not
                               available.).

12......  Utility_ID........  CID, LEI, or GID for     Foreign Key (CID).     Y            CHARACTER (7).....  .................  Required if the
                               the entity whose        Foreign Key (LEI)....               CHARACTER (20)....                      Reportable Entity
                               securities were         Foreign Key (GID)....               CHARACTER (10)....                      received a 203(a)(2)
                               acquired pursuant to                                                                                blanket
                               the blanket                                                                                authorization.
                               authorization.                                                                                Common relationships
                                                                                through this utility
                                                                                are used to identify
                                                                                affiliations in the
                                                                                asset appendix.
                                                                                Must match an active
                                                                                record identifier.
                                                                                These identifiers can
                                                                                be found using
                                                                                General Search, found
                                                                                here.
13......  relationship_start  Date reported            .....................  N            DATE..............  YYYY-MM-DD (ANSI)  Valid date.
           _date.              relationship started.
14......  relationship_end_d  Date reported            .....................  Y            DATE..............  YYYY-MM-DD (ANSI)  Valid date.
           ate.                relationship ended.                                                                                Value must be >=
                                                                                relationship_start_da
                                                                                te.
--------------------------------------------------------------------------------------------------------------------------------------------------------

[FR Doc. 2021-06092 Filed 4-5-21; 8:45 am]
BILLING CODE 6717-01-P


I.   E.I. du Pont de Nemours and Company

EPA Registration Division Contact :   Erin Malone,<PHONE_NUMBER>

PP No. 3F8220

EPA has received a pesticide petition (3F8220) from E.I. du Pont de
Nemours & Company (“DuPont”), 1007 Market Street, Wilmington, DE
19898, proposing pursuant to section 408 (d) of the Federal Food, Drug,
and Cosmetic Act, 21 U.S.C. 346a (d), to amend 40 CFR part 180 to
establish tolerances for residues of oxathiapiprolin,
1-(4-{4-[(5RS)-5-(2,6-difluorophenyl)-4,5-dihydro-1,2-oxazol-3-yl]-1,3-t
hiazol-2-yl}-1-piperidyl)-2-[5-methyl-3-(trifluoromethyl)-1H-pyrazol-1-y
l]ethanone, in or on the following commodities: grapes (import
tolerance) at 0.9 ppm; vegetable, root and tuber vegetables, tuberous
and corm vegetables (crop subgroup 1C) at 0.01 ppm; bulb vegetables,
onion, bulb (crop subgroup 3-07A) at 0.04 ppm; bulb vegetables, onion,
green (crop subgroup 3-07B) at 2 ppm; fruiting vegetables (crop group
8-10) at 0.2 ppm, dried fruiting vegetables at 0.9 ppm;  cucurbit
vegetables (crop group 9) at 0.2 ppm; Brassica (cole) leafy vegetables,
head and stem Brassica (crop subgroup 5A) at 1.5 ppm; leafy vegetables
(except Brassica vegetables), leafy greens (crop subgroup 4A) at 15 ppm;
peas, edible podded at 1 ppm; peas, succulent, shelled at 0.05 ppm;
ginseng root at 0.4 ppm; and to establish a Guideline Reference Level
for residues of oxathiapiprolin, in or on tobacco, dried leaves at 30
ppm.

EPA has determined that the petition contains data or information
regarding the elements set forth in section 408 (d) (2) of the FFDCA;
however, EPA has not fully evaluated the sufficiency of the submitted
data at this time or whether the data supports granting of the petition.
Additional data may be needed before EPA rules on the petition.

A. Residue Chemistry

1. Plant metabolism.  The metabolism of oxathiapiprolin is adequately
understood to support the proposed tolerances. Studies in grape, lettuce
and potato when treated at proposed label rates showed no significant
metabolites.  The metabolism of oxathiapiprolin in plants was similar
regardless of the crop or the treatment regime.  Oxathiapiprolin was the
principal residue in most crop fractions at various sampling points up
to crop maturity.  The overall metabolism of oxathiapiprolin in rotated
crops (cereals, root vegetables, leafy vegetables) was consistent with
metabolism seen in the primary crops.

2. Livestock Metabolism. The metabolism of oxathiapiprolin in ruminants
and poultry is adequately understood to support the proposed tolerances.
 Lactating goat and monogastric hen metabolism studies were conducted.
The metabolism of oxathiapiprolin in the rat was, in general, consistent
with that of the lactating goat (ruminant) and monogastric hen.

3. Analytical method.  Adequate analytical methodology, high-pressure
liquid chromatography with MS/MS detection, is available for enforcement
purposes.

4. Magnitude of residues. Field trials to meet country (Canada, the
United States) and regional (the EU) requirements were carried out in
vineyards (grape), field or protected vegetables (brassica vegetables,
bulb vegetables, cucurbit vegetables, fruiting vegetables, leafy
vegetables, peas, and potatoes), ginseng and tobacco.  The trials
covered a wide range of locations, climates and soil types globally and
the data obtained reflect the commercial use of the
oxathiapiprolin-containing products in the major crop growing regions.

The results of these field trials substantiate oxathiapiprolin as the
major residue at harvest in all crop commodities except potato tubers
(which were below the limit of quantification).  Oxathiapiprolin is
likewise the relevant residue in processed commodities.  For commodities
of animal origin, there was minimal transfer of oxathiapiprolin residues
from animal feeding-stuffs containing oxathiapiprolin residues to edible
tissues, milk, or eggs.  Livestock feeding studies were not conducted.

B. Toxicological Profile

1. Acute toxicity. Based on EPA criteria, technical oxathiapiprolin is
classified as acute toxicology category IV based on overall results from
several studies. This compound is considered acute toxicology category
IV for acute oral, dermal and inhalation toxicity and eye and skin
irritation. Technical oxathiapiprolin is not a dermal sensitizer.

No evidence of neurotoxicity was observed in acute study conducted with
oxathiapiprolin in rats. The no-observed-effect level (NOEL) and
no-observed-adverse-effect-level (NOAEL) in an acute neurotoxicity study
were 2000 mg oxathiapiprolin/kg bw, which was the highest dose
administered in the study.

2. Genotoxicty. Oxathiapiprolin was evaluated in a battery of in vitro
and in vivo genetic toxicology studies.  Negative results were obtained
in all studies indicating that oxathiapiprolin does not cause genetic
damage and, therefore, does not pose a mutagenic hazard.

3. Reproductive and developmental toxicity. No effects on fertility were
observed in one- and two-generation reproduction studies in rats.  No
effects on development were observed in developmental toxicity studies
in rats and rabbits. Slight delays in maturation were observed in male
rats in the reproduction studies, with a NOAEL of 104 mg/kg bw/day.  At
much higher doses, decreases in offspring body weight were also
observed.

4. Subchronic toxicity. Short-term oral feeding studies with
oxathiapiprolin were conducted in rats, mice and dogs with durations of
up to 90 days.  In addition, two other studies were performed in rats: a
14-day oral gavage study (conducted as a part of early discovery) and a
28-day dermal study. No adverse effects were observed in any of these
studies. In all cases, the NOAELs were greater than or equal to 1000
mg/kg bw/day. Non-adverse findings observed in these studies were
limited to changes in organ weights, clinical chemistry parameters and
liver cytochrome P450 isozymes.

Oxathiapiprolin showed no evidence of immunotoxicity in a 28-day feeding
study in mice.  Additionally, no indications of a potential for
oxathiapiprolin to affect the immune system were noted in the repeated
dose toxicity studies with rats, mice or dogs. Based on this,
oxathiapiprolin does not appear to pose an immunotoxic hazard.

Neurotoxicity endpoints were included in the subchronic (90-day feeding)
study that tested up to intake levels of >1000 mg/kg bw/day in male and
female rats. No evidence of neurotoxicity was observed.  No treatment
related clinical signs indicative of potential neurotoxicity were
observed in repeated dose studies in mice or dogs.

5. Chronic toxicity. Based on the results of chronic feeding studies in
rats and mice, oxathiapiprolin was not carcinogenic in either species.
No indications of chronic toxicity were observed in either study.  A
one-year toxicity study was also conducted in dogs, with no
toxicologically relevant findings.  Possible test substance-related
changes in organ weights and clinical chemistry parameters were
observed.

6. Rat metabolism. [14C]Oxathiapiprolin was investigated in rats after
single low and high dose administration, and after multiple treatments
at low doses.  At the low dose (10 mg/kg bw) absorption was 31-49%, and
declined to 5.4-7.7% at the high dose (200 mg/kg bw).  Peak plasma
concentrations occurred at 0.25-9.5 hours.  Plasma 14C residue
concentrations showed steady-state kinetics in male and female rats
after multiple low dose administrations (10 mg/kg bw for 14 days).

Maximum tissue concentrations at Tmax occurred in the liver.  Clearance
was rapid for liver and other tissues by 168 hours after dosing.  All
tissues at 168 hours, including the carcass, collectively retained
<0.05% of the dose.  The pattern of distribution was similar between
sexes and single and multiple dose administration.  The low percentage
and concentration values in tissues indicate very low potential for
accumulation.

Plasma terminal elimination half-lives ranged from 40-51 hours following
single or multiple low-dose administration.  Excretion in urine and
faeces was >95% complete by 48 hours after single dosing.  The pattern
of excretion was similar after multiple dosing.  Faecal excretion was
the primary route of elimination ((90%).  Recovery in urine was much
lower ((2.5%).  Essentially no excretion occurred by exhalation.

Oxathiapiprolin metabolism pathways mainly involved hydroxylation at
various ring carbons and ring opening.  Pyrazole-piperidine bridge
cleavage followed by further oxidation resulted in pyrazole metabolites.

7. Metabolite toxicology. Oxathiapiprolin is considered to be the only
molecule of toxicological relevance.  Toxicology studies conducted with
metabolites support this conclusion.

8. Endocrine disruption. No relevant effects were observed on any
endocrine tissue in short- and long-term studies in rats, mice and dogs
to suggest an adverse impact on estrogen or androgen pathways or on
steroid biosynthesis.  The reproduction studies in rats provided
sufficient information to fully interpret the effects of oxathiapiprolin
on reproduction. No observations in that study suggested an adverse
effect on estrogen. Additionally, investigational studies were conducted
that suggest no adverse effects on estrogen. The slight delay in
maturation observed in male rats in the reproduction studies may be
exacerbated by weight effects; however, the data suggest that other
factors are involved. Investigational studies did not reveal any adverse
effects on androgens by oxathiapiprolin in rats.

C. Aggregate Exposure

The residue of concern is parent oxathiapiprolin only.

No acute dietary risk assessment was needed since there is no acute
toxicity endpoint.

The chronic studies in dogs, rats, and mice were considered, but not
used, as a basis for the chronic reference dose (cRfD), since no adverse
findings occurred in these studies. The lowest NOAEL was observed in the
multigeneration reproduction study in rats.  Therefore, the cRfD 1.04
mg/kg/day is based on the NOAEL of 104 mg/kg bw/day from the
multigeneration reproduction study in rats and a 100-fold safety factor.

1. Dietary exposure

i. Food. There is no population in the chronic risk assessment for
oxathiapiprolin with an exposure greater than 1% of the chronic
reference dose.

ii. Drinking water. No acute dietary endpoint was identified. Therefore,
an acute drinking water risk assessment was not necessary.

Chronic drinking water exposure values were calculated for
oxathiapiprolin using EPA screening concentration models for ground
water and surface water. The groundwater concentrations for
oxathiapiprolin were less than those in surface water, so surface water
values were used in the dietary risk assessment.

When the surface water concentration was included for drinking water in
the chronic aggregate assessment to evaluate chronic exposure and risk
from food and drinking water, all populations including the general U.S.
population and all subpopulations had an exposure less than 1 % of the
chronic reference dose (cRfD), indicating a significant margin of safety
and reasonable certainty that oxathiapiprolin residues in drinking water
will not contribute significantly to the aggregate chronic human health
risk.

2. Non-dietary exposure. The Margin of Exposure (MOE) estimated for
inhalation while smoking treated tobacco leaves indicates that there are
no inhalation intake concerns.  Since there are no residential or home
uses non-dietary exposure has not been assessed.

D. Cumulative Effects

A determination has not been made that oxathiapiprolin has a common
mechanism of toxicity with other substances. Oxathiapiprolin does not
appear to produce a common toxic metabolite with other substances. A
cumulative risk assessment was, therefore, not performed for this
analysis.

E. Safety Determination

1. U.S. population. Based on risk assessments performed using worst-case
exposure assumptions there is a reasonable certainty that no harm will
result to the general population from the aggregate exposure to
oxathiapiprolin.  No additional safety factors are warranted.

2. Infants and children. Based on the risk assessments performed using
worst-case exposure assumptions there is a reasonable certainty that no
harm will result to infants and children from the aggregate exposure to
oxathiapiprolin.  No additional safety factors are warranted.

F. INTERNATIONAL TOLERANCES

No tolerances have been established to date for oxathiapiprolin.

Pesticide Petition to Establish Tolerances for Oxathiapiprolin


[Federal Register: June 23, 2010 (Volume 75, Number 120)]
[Rules and Regulations]
[Page 35652]
[DOCID:fr23jn10-21]

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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 165

[Docket No. USCG 2010-0377]

Safety Zone; Northern California Annual Fireworks Events, Fourth
of July Fireworks, South Lake Tahoe Gaming Alliance

AGENCY: Coast Guard, DHS.

ACTION: Notice of enforcement of regulation.

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SUMMARY: The Coast Guard will enforce Lights on the Lake Fireworks
Display safety zone for South Lake Tahoe, from 8:30 a.m. on July 1,
2010 through 10 p.m. on July 4, 2010 in position 38[deg]57'56'' N,
119[deg]57'21'' W (NAD83). This action is necessary to control vessel
traffic and to ensure the safety of event participants and spectators.
During the enforcement period, unauthorized persons or vessels are
prohibited from entering into, transiting through, or anchoring in the
safety zone, unless authorized by the Patrol Commander (PATCOM).

DATES: The regulations in 33 CFR 165.1191 will be enforced from 8:30
a.m. on July 1, 2010 through 10 p.m. on July 4, 2010.

FOR FURTHER INFORMATION CONTACT: If you have questions on this notice,
call or e-mail Lieutenant Simone Mausz U.S. Coast Guard; telephone 415-
399-7443, e-mail<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: The Coast Guard will enforce the safety zone
for the annual Lights on the Lake Fireworks in 33 CFR 165.1191 on July
4, 2010, from 8:30 a.m. on July 1, 2010 through 10 p.m. on July 4,
2010. The fireworks launch site is approximately 600 feet offshore of
Stateline Beach, South Lake Tahoe, CA in position 38[deg]57'56'' N.
119[deg]57'21'' W. (NAD83).
    Under the provisions of 33 CFR 165.1191, unauthorized persons or
vessels are prohibited from entering into, transiting through, or
anchoring in the safety zone during all applicable effective dates and
times, unless authorized to do so by the PATCOM. Additionally, each
person who receives notice of a lawful order or direction issued by an
official patrol vessel shall obey the order of direction. The PATCOM is
empowered to forbid and control the regulated area. The PATCOM shall be
designated by the Commander, Coast Guard Sector San Francisco. The
PATCOM may, upon request, allow the transit of commercial vessels
through regulated areas when it is safe to do so.
    This notice is issued under authority of 33 CFR 165.1191 and 5
U.S.C. 552 (a). In addition to this notice in the Federal Register, the
Coast Guard will provide the maritime community with extensive advance
notification of this enforcement period via the Local Notice to
Mariners.
    If the Captain of the Port determines that the regulated area need
not be enforced for the full duration stated in this notice, he or she
may use a Broadcast Notice to Mariners to grant general permission to
enter the regulated area.

    Dated: June 11, 2010.
P.M. Gugg,
Captain, U.S. Coast Guard, Captain of the Port, Sector San Francisco.
[FR Doc. 2010-15200 Filed 6-22-10; 8:45 am]
BILLING CODE 9110-04-P


[Federal Register Volume 87, Number 138 (Wednesday, July 20, 2022)]
[Notices]
[Pages 43354-43355]
[FR Doc No: 2022-15448]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-95283; File No. SR-NSCC-2022-006]

Self-Regulatory Organizations; National Securities Clearing
Corporation; Notice of Designation of Longer Period for Commission
Action on a Proposed Rule Change To Amend the Stress Testing Framework
and Liquidity Risk Management Framework

July 14, 2022.
    On May 26, 2022, National Securities Clearing Corporation
(``NSCC'') filed with the Securities and Exchange Commission
(``Commission'') proposed rule change SR-NSCC-2022-006 (the ``Proposed
Rule Change'') pursuant to Section 19(b)(1) of the Securities Exchange
Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder.\2\ The Proposed
Rule Change was published for comment in

the Federal Register on June 15, 2022,\3\ and the Commission has
received no comments regarding the changes proposed in the Proposed
Rule Change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 95078 (June 10,
2022), 87 FR 36158 (June 15, 2022) (File No. SR-NSCC-2022-006).
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    Section 19(b)(2) of the Act \4\ provides that, within 45 days of
the publication of notice of the filing of a proposed rule change, or
within such longer period up to 90 days as the Commission may designate
if it finds such longer period to be appropriate and publishes its
reasons for so finding or as to which the self-regulatory organization
consents, the Commission shall either approve the proposed rule change,
disapprove the proposed rule change, or institute proceedings to
determine whether the proposed rule change should be disapproved. The
45th day after publication of the notice for the Proposed Rule Change
is July 30, 2022.
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    \4\ 15 U.S.C. 78s(b)(2).
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    The Commission is extending the 45-day period for Commission action
on the Proposed Rule Change. The Commission finds that it is
appropriate to designate a longer period within which to take action on
the Proposed Rule Change so that it has sufficient time to consider and
take action on the Proposed Rule Change.
    Accordingly, pursuant to Section 19(b)(2) of the Act \5\ and for
the reasons stated above, the Commission designates September 13, 2022,
as the date by which the Commission shall either approve, disapprove,
or institute proceedings to determine whether to disapprove proposed
rule change SR-NSCC-2022-006.
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    \5\ Id.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\6\
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    \6\ 17 CFR 200.30-3(a)(31).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-15448 Filed 7-19-22; 8:45 am]
BILLING CODE 8011-01-P