[Federal Register Volume 88, Number 74 (Tuesday, April 18, 2023)]
[Notices]
[Pages 23707-23711]
[FR Doc No: 2023-08141]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-97287; File No. SR-NYSEARCA-2023-29]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Modify the NYSE
Arca Options Fee Schedule

April 12, 2023.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given
that, on April 3, 2023, NYSE Arca, Inc. (``NYSE Arca'' or the
``Exchange'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I and II
below, which Items have been prepared by the self-regulatory
organization. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to modify the NYSE Arca Options Fee Schedule
(``Fee Schedule'') regarding the Limit of Fees on Options Strategy
Executions (the ``Strategy Cap''). The Exchange proposes to implement
the fee change effective April 3, 2023. The proposed rule change is
available on the Exchange's website at www.nyse.com, at the principal
office of the Exchange, and at the Commission's Public Reference Room.

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

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

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

1. Purpose
    The purpose of this filing is to amend the Fee Schedule to include
certain strategy executions which are the result of a QCC order \4\ in
the Strategy Cap. The Exchange proposes to implement the rule change on
April 3, 2023.
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    \4\ A QCC Order is defined as an originating order to buy or
sell at least 1,000 contracts that is identified as being part of a
qualified contingent trade coupled with a contra-side order or
orders totaling an equal number of contracts. See Rule 6.62P-
O(g)(1)(A).
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    The Fee Schedule currently provides that the Strategy Cap is a
$1,000 cap on transaction fees for orders that are executed to achieve
certain investment strategies (``Strategy Executions'').\5\
Specifically, the Strategy Cap provides for a cap on Strategy
Executions

involving (a) reversals and conversions, (b) box spreads, (c) short
stock interest spreads, (d) merger spreads, and (e) jelly rolls.\6\ The
Strategy Cap applies to each Strategy Execution executed in standard
option contracts on the same trading. Currently, qualifying Strategy
Executions that are executed as QCC orders are not eligible for the
Strategy Cap, as QCC orders are subject to separate fees and credits
set forth in the Fee Schedule.\7\ All Royalty fees associated with
Strategy Executions on Index and Exchange Traded Funds will be passed
through to trading participants on the Strategy Executions on a pro-
rata basis. These Royalty fees will not be included in the calculation
of the $1,000 cap. Manual Broker Dealer and Firm Proprietary Strategy
trades that do not reach the $1,000 cap will be billed at $0.25 per
contract. The Strategy Cap is reduced to $200 on transactions fees for
qualifying strategies traded on the same trading day for those OTP
Holders that trade at least 25,000 monthly billable contract sides in
qualifying Strategy Executions.
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    \5\ See Fee Schedule, LIMIT OF FEES ON OPTIONS STRATEGY
EXECUTIONS.
    \6\ See Fee Schedule, Endnote 10 for definitions of the various
Strategy Executions.
    \7\ See Fee Schedule, QUALIFIED CONTINGENT CROSS (``QCC'')
TRANSACTION FEES AND CREDITS.
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    The Exchange now proposes to modify the Strategy Cap to provide
that fees associated with a reversal and conversion strategy \8\
executed as a QCC order (a ``Reversal/Conversion QCC'') would be
eligible for the Strategy Cap.\9\ The Exchange believes that including
Reversal/Conversion QCCs in the Strategy Cap, but not other types of
QCC transactions, would be appropriate because of the specific fee
sensitivity resulting from the arbitrage of components of a reversal
and conversion strategy (whereas the fee sensitivity is less
significant for other strategies executed as a QCC order). The proposed
change would extend the benefits of the Strategy Cap to an additional
type of Strategy Execution and is intended to encourage the submission
of additional Reversal/Conversion QCCs to the Exchange. The Exchange
notes that this proposed change would align its Strategy Cap with the
cap on Strategy Executions currently offered by its affiliated options
exchange, NYSE American Options.\10\
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    \8\ A ``reversal'' is established by combining a short security
position with a short put and a long call position that shares the
same strike and expiration. A ``conversion'' is established by
combining a long position in the underlying security with a long put
and a short call position that shares the same strike and
expiration. See Fee Schedule, Endnote 10.
    \9\ The Exchange also proposes a non-substantive change to add a
missing period to the end of the last sentence in the first
paragraph of the Fee Schedule text describing the Strategy Cap. See
proposed Fee Schedule, LIMIT OF FEES ON OPTIONS STRATEGY EXECUTIONS.
    \10\ See NYSE American Options Fee Schedule, Strategy Execution
Fee Cap, available at https://www.nyse.com/publicdocs/nyse/markets/american-options/NYSE_American_Options_Fee_Schedule.pdf (including
Reversal/Conversion QCCs in cap on Strategy Executions).
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    The Exchange also proposes to modify Endnote 17, which currently
provides that Submitting Broker QCC credits and Floor Broker rebates
earned through the Manual Billable Rebate Program shall not combine to
exceed $2,000,000 per month per firm. The Exchange proposes to amend
Endnote 17 to add a sentence providing that Submitting Broker QCC
credits will not apply to any QCC trades that are included in the
Strategy Cap. The Exchange believes this proposed change is reasonable
because it is intended to clarify which incentives are applicable to
Reversal/Conversion QCCs once such transactions are eligible for the
Strategy Cap, as proposed.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\11\ in general, and furthers the
objectives of Sections 6(b)(4) and (5) of the Act,\12\ in particular,
because it provides for the equitable allocation of reasonable dues,
fees, and other charges among its members, issuers and other persons
using its facilities and does not unfairly discriminate between
customers, issuers, brokers or dealers.
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    \11\ 15 U.S.C. 78f(b).
    \12\ 15 U.S.C. 78f(b)(4) and (5).
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The Proposed Rule Change Is Reasonable
    The Exchange operates in a highly competitive market. The
Commission has repeatedly expressed its preference for competition over
regulatory intervention in determining prices, products, and services
in the securities markets. In Regulation NMS, the Commission
highlighted the importance of market forces in determining prices and
SRO revenues and, also, recognized that current regulation of the
market system ``has been remarkably successful in promoting market
competition in its broader forms that are most important to investors
and listed companies.'' \13\
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    \13\ See Securities Exchange Act Release No. 51808 (June 9,
2005), 70 FR 37496, 37499 (June 29, 2005) (S7-10-04) (``Reg NMS
Adopting Release'').
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    There are currently 16 registered options exchanges competing for
order flow. Based on publicly-available information, and excluding
index-based options, no single exchange has more than 16% of the market
share of executed volume of multiply-listed equity and ETF options
trades.\14\ Therefore, no exchange possesses significant pricing power
in the execution of multiply-listed equity and ETF options order flow.
More specifically, in February 2023, the Exchange had less than 13%
market share of executed volume of multiply-listed equity and ETF
options trades.\15\
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    \14\ The OCC publishes options and futures volume in a variety
of formats, including daily and monthly volume by exchange,
available here: https://www.theocc.com/Market-Data/Market-Data-Reports/Volume-and-Open-Interest/Monthly-Weekly-Volume-Statistics.
    \15\ Based on a compilation of OCC data for monthly volume of
equity-based options and monthly volume of equity-based ETF options,
see id., the Exchange's market share in equity-based options
decreased from 13.99% for the month of February 2022 to 12.89% for
the month of February 2023.
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    The Exchange believes that the ever-shifting market share among the
exchanges from month to month demonstrates that market participants can
shift order flow, or discontinue or reduce use of certain categories of
products, in response to fee changes. Accordingly, competitive forces
constrain options exchange transaction fees. Stated otherwise,
modifications to exchange transaction fees can have a direct effect on
the ability of an exchange to compete for order flow.
    The Exchange believes that the proposed modification of the
Strategy Cap to add Reversal/Conversion QCCs to the transactions
included in the Strategy Cap is reasonable because the proposed change
is designed to incent OTP Holders to increase the number of QCC
transactions sent to the Exchange. Specifically, the proposed change is
intended to encourage OTP Holders to direct additional QCC transactions
to the Exchange by limiting fees associated with Reversal/Conversion
QCCs. The Exchange believes that it is reasonable to include Reversal/
Conversion QCCs, but not other strategies executed as QCCs, in the
Strategy Cap because of the specific fee sensitivity related to
arbitrage of components of a reversal and conversion strategy.
Accordingly, the proposed change is intended to encourage additional
Reversal/Conversion QCCs by making fees for such transactions eligible
for the Strategy Cap. As noted above, NYSE American Options already
includes Reversal/Conversion QCCs in its cap on fees for Strategy
Executions, and the proposed change would thus also provide consistency
between the Exchange's fees and those of its affiliated options market.
The Exchange also believes that the proposed change to Endnote 17 of
the Fee Schedule is reasonable considering the proposed

change to make Reversal/Conversion QCCs eligible for the Strategy Cap
and would add clarity to the Fee Schedule that such transactions would
only be eligible for the benefits of the Strategy Cap and would not
also entitle OTP Holders to Submitting Broker QCC credits. To the
extent that the proposed change attracts more volume to the Exchange,
this increased order flow would continue to make the Exchange a more
competitive venue for order execution, which, in turn, promotes just
and equitable principles of trade and removes impediments to and
perfects the mechanism of a free and open market and a national market
system. The Exchange notes that all market participants stand to
benefit from any increase in volume, which could promote market depth,
facilitate tighter spreads and enhance price discovery, to the extent
the proposed change encourages OTP Holders to utilize the Exchange as a
primary trading venue, and may lead to a corresponding increase in
order flow from other market participants. In addition, any increased
liquidity on the Exchange would result in enhanced market quality for
all participants.
    Finally, to the extent the proposed change continues to attract
greater volume and liquidity, the Exchange believes the proposed change
would improve the Exchange's overall competitiveness and strengthen its
market quality for all market participants. In the backdrop of the
competitive environment in which the Exchange operates, the proposed
rule change is a reasonable attempt by the Exchange to increase the
depth of its market and improve its market share relative to its
competitors. The Exchange's fees are constrained by intermarket
competition, as OTP Holders may direct their order flow to any of the
16 options exchanges, including at least one other exchange that limits
fees for QCC Strategy Executions.\16\ Thus, OTP Holders have a choice
of where they direct their order flow, including their QCC transactions
and Strategy Executions. The proposed rule change is designed to
continue to incent OTP Holders to direct liquidity and, in particular,
Reversal/Conversion QCCs to the Exchange. In addition, to the extent
OTP Holders are incentivized to aggregate their trading activity at the
Exchange, that increased liquidity could promote market depth, price
discovery and improvement, and enhanced order execution opportunities
for market participants.
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    \16\ See, e.g., BOX Options Exchange Fee Schedule, Section
IV.D.2., available at: https://boxoptions.com/fee-schedule/
(providing for no fee on QCC Strategy Executions). See also note 10,
supra.
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The Proposed Rule Change Is an Equitable Allocation of Credits and Fees
    The Exchange believes the proposed rule change is an equitable
allocation of its fees and credits. The proposed inclusion of Reversal/
Conversion QCCs under the Strategy Cap and an OTP Holder's ability to
qualify for the Strategy Cap are based on the type and amount of
business transacted on the Exchange, and OTP Holders can attempt to
submit such transactions or not to achieve the Strategy Cap. The
Exchange also believes that the proposed change to Endnote 17 is
equitable because it would promote clarity in the Fee Schedule as to
which fees and credits are applicable to QCC transactions, in light of
the proposed change to include Reversal/Conversion QCCs in the
transactions eligible for limited fees pursuant to the Strategy Cap. In
addition, the proposed changes to make Reversal/Conversion QCCs
eligible for the Strategy Cap and to clarify Endnote 17 are equally
applicable to all OTP Holders. To the extent the proposed changes
continue to incent OTP Holders to direct increased liquidity to the
Exchange, all market participants would benefit from enhanced
opportunities for price improvement and order execution. Moreover, the
proposed fee limitations are designed to encourage OTP Holders to
aggregate their executions--including Reversal/Conversion QCC
transactions--at the Exchange as a primary execution venue. To the
extent that the proposed change achieves its purpose in attracting more
volume to the Exchange, this increased order flow would continue to
make the Exchange a more competitive venue for, among other things,
order execution. Thus, the Exchange believes the proposed rule change
would improve market quality for all market participants on the
Exchange and, as a consequence, attract more order flow to the
Exchange, thereby improving market-wide quality and price discovery.
The Proposed Rule Change Is Not Unfairly Discriminatory
    The Exchange believes the proposed change is not unfairly
discriminatory because the proposed change to the Strategy Cap to
include Reversal/Conversion QCC transactions and the proposed
modification of Endnote 17 would apply to all qualifying OTP Holders on
an equal and non-discriminatory basis. The proposed change is based on
the amount and type of business transacted on the Exchange, and OTP
Holders are not obligated to execute QCC transactions or Strategy
Executions. Rather, the proposal is designed to expand the benefits
offered by the Strategy Cap and to encourage OTP Holders to increase
Reversal/Conversion QCC volume sent to the Exchange and to utilize the
Exchange as a primary trading venue for all transactions (if they have
not done so previously). To the extent that the proposed change
attracts more Reversal/Conversion QCC transactions to the Exchange,
this increased order flow would continue to make the Exchange a more
competitive venue for order execution. Thus, the Exchange believes the
proposed rule change would improve market quality for all market
participants on the Exchange and, as a consequence, attract more order
flow to the Exchange, thereby improving market-wide quality and price
discovery. The resulting increased volume and liquidity would provide
more trading opportunities and tighter spreads to all market
participants and thus would promote just and equitable principles of
trade, remove impediments to and perfect the mechanism of a free and
open market and a national market system and, in general, protect
investors and the public interest.
    Thus, the Exchange believes that, to the extent the proposed rule
change would continue to improve market quality for all market
participants on the Exchange and attract more order flow to the
Exchange, the resulting increased volume and liquidity would provide
more trading opportunities and tighter spreads to all market
participants and thus would promote just and equitable principles of
trade, remove impediments to and perfect the mechanism of a free and
open market and a national market system and, in general, protect
investors and the public interest.
    Finally, the Exchange believes that it is subject to significant
competitive forces, as described below in the Exchange's statement
regarding the burden on competition.

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

    In accordance with Section 6(b)(8) of the Act, the Exchange does
not believe that the proposed rule change would impose any burden on
competition that is not necessary or appropriate in furtherance of the
purposes of the Act. Instead, as discussed above, the Exchange believes
that the proposed change would encourage the submission of additional
liquidity to a public exchange, thereby promoting market

depth, price discovery and transparency and enhancing order execution
opportunities for all market participants. As a result, the Exchange
believes that the proposed change furthers the Commission's goal in
adopting Regulation NMS of fostering integrated competition among
orders, which promotes ``more efficient pricing of individual stocks
for all types of orders, large and small.'' \17\
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    \17\ See Reg NMS Adopting Release, supra note 13, at 37499.
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    Intramarket Competition. The proposed change is designed to attract
additional order flow--and, in particular, Reversal/Conversion QCC
transactions--to the Exchange, which could increase the volumes of
contracts traded on the Exchange. Greater liquidity benefits all market
participants on the Exchange, and the proposed change could also
increase opportunities for execution of other trading interest, to the
extent it encourages OTP Holders to aggregate executions at the
Exchange. The Exchange also does not believe that the proposed change
would impose any burden on competition not necessary or appropriate, as
the proposed change would be applicable to all similarly-situated OTP
Holders equally.
    Intermarket Competition. The Exchange operates in a highly
competitive market in which market participants can readily favor one
of the 16 competing option exchanges if they deem fee levels at a
particular venue to be excessive. In such an environment, the Exchange
must continually adjust its fees to remain competitive with other
exchanges and to attract order flow to the Exchange. Based on publicly-
available information, and excluding index-based options, no single
exchange has more than 16% of the market share of executed volume of
multiply-listed equity and ETF options trades.\18\ Therefore, currently
no exchange possesses significant pricing power in the execution of
multiply-listed equity and ETF options order flow. More specifically,
in February 2023, the Exchange had less than 13% market share of
executed volume of multiply-listed equity and ETF options trades.\19\
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    \18\ The OCC publishes options and futures volume in a variety
of formats, including daily and monthly volume by exchange,
available here: https://www.theocc.com/Market-Data/Market-Data-Reports/Volume-and-Open-Interest/Monthly-Weekly-Volume-Statistics.
    \19\ Based on a compilation of OCC data for monthly volume of
equity-based options and monthly volume of equity-based ETF options,
see id., the Exchange's market share in equity-based options
decreased from 13.99% for the month of February 2022 to 12.89% for
the month of February 2023.
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    The Exchange believes that the proposed rule change reflects this
competitive environment because it modifies the Exchange's fees in a
manner designed to continue to incent OTP Holders to direct trading
interest (particularly Reversal/Conversion QCC transactions) to the
Exchange, to provide liquidity and to attract order flow. To the extent
that OTP Holders are incentivized to utilize the Exchange as a primary
trading venue for all transactions, all of the Exchange's market
participants should benefit from the improved market quality and
increased opportunities for price improvement.
    The Exchange notes that it operates in a highly competitive market
in which market participants can readily favor competing venues. In
such an environment, the Exchange must continually review, and consider
adjusting, its fees and credits to remain competitive with other
exchanges. For the reasons described above, the Exchange believes that
the proposed rule change reflects this competitive environment. The
Exchange further believes that the proposed change could promote
competition between the Exchange and other execution venues, including
another options exchange that currently limits fees for QCC Strategy
Executions, by encouraging additional orders to be sent to the Exchange
for execution.\20\
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    \20\ See note 16, supra.
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C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others

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

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

    The foregoing rule change is effective upon filing pursuant to
Section 19(b)(3)(A) \21\ of the Act and subparagraph (f)(2) of Rule
19b-4 \22\ thereunder, because it establishes a due, fee, or other
charge imposed by the Exchange.
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    \21\ 15 U.S.C. 78s(b)(3)(A).
    \22\ 17 CFR 240.19b-4(f)(2).
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    At any time within 60 days of the filing of such proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings under
Section 19(b)(2)(B) \23\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
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    \23\ 15 U.S.C. 78s(b)(2)(B).
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IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include
File Number SR-NYSEARCA-2023-29 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NYSEARCA-2023-29. 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 website (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 website 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. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly. All

submissions should refer to File Number SR-NYSEARCA-2023-29, and should
be submitted on or before May 9, 2023.
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    \24\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\24\
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-08141 Filed 4-17-23; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 85, Number 249 (Tuesday, December 29, 2020)]
[Notices]
[Pages 85719-85720]
[FR Doc No: 2020-28768]

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SECURITIES AND EXCHANGE COMMISSION

Proposed Collection; Comment Request

Upon Written Request Copies Available From: Securities and Exchange
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC
20549-2736

Extension:
    Rule 17f-1; SEC File No. 270-236, OMB Control No. 3235-0222

    Notice is hereby given that pursuant to the Paperwork Reduction Act
of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange
Commission (the ``Commission'') is soliciting comments on the
collections of information summarized below. The Commission plans to
submit these existing collections of information to the Office of
Management and Budget for extension and approval.
    Rule 17f-1 (17 CFR 270.17f-1) under the Investment Company Act of
1940 (the ``Act'') (15 U.S.C. 80a) is entitled: ``Custody of Securities
with Members of National Securities Exchanges.'' Rule 17f-1 provides
that any registered management investment company (``fund'') that
wishes to place its assets in the custody of a national securities
exchange member may do so only under a written contract that must be
ratified initially and approved annually by a majority of the fund's
board of directors. The written contract also must contain certain
specified provisions. In addition, the rule requires an independent
public accountant to examine the fund's assets in the custody of the
exchange member at least three times during the fund's fiscal year. The
rule requires the written contract and the certificate of each
examination to be transmitted to the Commission. The purpose of the
rule is to ensure the safekeeping of fund assets.
    Commission staff estimates that each fund makes 1 response and
spends an average of 3.5 hours annually in complying with the rule's
requirements. Commission staff estimates that on an annual basis it
takes: (i) 0.5 Hours for the board of directors \1\ to review and

ratify the custodial contracts; and (ii) 3 hours for the fund's
controller to assist the fund's independent public auditors in
verifying the fund's assets. Approximately 6 funds rely on the rule
annually, with a total of 6 responses.\2\ Thus, the total annual hour
burden for rule 17f-1 is approximately 21 hours.\3\
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    \1\ Estimates of the number of hours are based on conversations
with representatives of mutual funds that comply with the rule. The
actual number of hours may vary significantly depending on
individual fund assets. The hour burden for rule 17f-1 does not
include preparing the custody contract because that would be part of
customary and usual business practice.
    \2\ Based on a review of Form N-17f-1 filings over the last
three years the Commission staff estimates that an average of 6
funds rely on rule 17f-1 each year.
    \3\ This estimate is based on the following calculation: (6
Respondents x 3.5 hours = 21 hours). The annual burden for rule 17f-
1 does not include time spent preparing Form N-17f-1. The burden for
Form N-17f-1 is included in a separate collection of information.
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    Funds that rely on rule 17f-1 generally use outside counsel to
prepare the custodial contract for the board's review and to transmit
the contract to the Commission. Commission staff estimates the cost of
outside counsel to perform these tasks for a fund each year is $978.\4\
Funds also must have an independent public accountant verify the fund's
assets three times each year and prepare the certificate of
examination. Commission staff estimates the annual cost for an
independent public accountant to perform this service is $9,050.\5\
Therefore, the total annual cost burden for a fund that relies on rule
17f-1 would be approximately $10,028.\6\ As noted above, the staff
estimates that 6 funds rely on rule 17f-1 each year, for an estimated
total annualized cost burden of $60,168.\7\
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    \4\ This estimate is based on the following calculation: (2
hours of outside counsel time x $489 = $978). The staff has
estimated the average cost of outside counsel at $489 per hour,
based on information received from funds and their counsel.
    \5\ This estimate is based on information received from fund
representatives estimating the aggregate annual cost of an
independent public accountant's periodic verification of assets and
preparation of the certificate of examination.
    \6\ This estimate is based on the following calculation: ($978 +
$9,050 = $10,028).
    \7\ This estimate is based on the following calculation: (6
funds x $10,028 = $60,168).
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    The estimate of average burden hours is made solely for the
purposes of the Paperwork Reduction Act, and is not derived from a
comprehensive or even a representative survey or study of the costs of
Commission rules. Compliance with the collections of information
required by rule 17f-1 is mandatory for funds that place their assets
in the custody of a national securities exchange member. Responses will
not be kept confidential. An agency may not conduct or sponsor, and a
person is not required to respond to a collection of information unless
it displays a currently valid control number.
    The Commission requests written comments on: (a) Whether the
collections of information are necessary for the proper performance of
the functions of the Commission, including whether the information has
practical utility; (b) the accuracy of the Commission's estimate of the
burdens of the collection of information; (c) ways to enhance the
quality, utility, and clarity of the information collected; and (d)
ways to minimize the burden of the collection of information on
respondents, including through the use of automated collection
techniques or other forms of information technology. Consideration will
be given to comments and suggestions submitted in writing within 60
days of this publication.
    Please direct your written comments to David Bottom, Director/Chief
Information Officer, Securities and Exchange Commission, C/O Cynthia
Roscoe, 100 F Street NE, Washington, DC 20549; or send an email to:
<EMAIL_ADDRESS>
    Dated: December 22, 2020.
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2020-28768 Filed 12-28-20; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 77, Number 63 (Monday, April 2, 2012)]
[Notices]
[Page 19660]
[FR Doc No: 2012-7773]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings

    Take notice that the Commission has received the following Natural
Gas Pipeline Rate and Refund Report filings:

Filings Instituting Proceedings

    Docket Numbers: RP12-506-000.
    Applicants: Natural Gas Pipeline Company of America.
    Description: JP Morgan Ventures Negotiated Rate Filing to be
effective 4/1/2012.
    Filed Date: 3/21/12.
    Accession Number: 20120321-5161.
    Comments Due: 5 p.m. ET 4/2/12.

    Docket Numbers: RP12-507-000.
    Applicants: Petal Gas Storage, L.L.C.
    Description: Create PKS Service to be effective 5/1/2012.
    Filed Date: 3/22/12.
    Accession Number: 20120322-5041.
    Comments Due: 5 p.m. ET 4/3/12.

    Docket Numbers: RP12-508-000.
    Applicants: Northern Natural Gas Company.
    Description: 20120322 J. Aron Non-Conforming/Negotiated Rate to be
effective 4/22/2012.
    Filed Date: 3/22/12.
    Accession Number: 20120322-5077.
    Comments Due: 5 p.m. ET 4/3/12.

    Docket Numbers: RP12-509-000.
    Applicants: Panhandle Eastern Pipe Line Company, LP.
    Description: Flow Through of Cash Out Revenues filed on 3-22-12 to
be effective N/A.
    Filed Date: 3/22/12.
    Accession Number: 20120322-5098.
    Comments Due: 5 p.m. ET 4/3/12.

    Docket Numbers: RP12-510-000.
    Applicants: Panhandle Eastern Pipe Line Company, LP.
    Description: Flow Through of Penalty Revenues Report filed on 3-22-
12 to be effective N/A.
    Filed Date: 3/22/12.
    Accession Number: 20120322-5106.
    Comments Due: 5 p.m. ET 4/3/12.

    Docket Numbers: RP12-511-000.
    Applicants: Kern River Gas Transmission Company.
    Description: 2012 SCRS Restatements to be effective 4/1/2012.
    Filed Date: 3/23/12.
    Accession Number: 20120323-5009.
    Comments Due: 5 p.m. ET 4/4/12.

    Any person desiring to intervene or protest in any of the above
proceedings must file in accordance with Rules 211 and 214 of the
Commission's Regulations (18 CFR 385.211 and 385.214) on or before 5
p.m. Eastern time on the specified comment date. Protests may be
considered, but intervention is necessary to become a party to the
proceeding.
    The filings are accessible in the Commission's eLibrary system by
clicking on the links or querying the docket number.
    eFiling is encouraged. More detailed information relating to filing
requirements, interventions, protests, and service can be found at:
http://www.ferc.gov/docs-filing/efiling/filing-req.pdf. For other
information, call<PHONE_NUMBER> (toll free). For TTY, call (202) 502-
8659.

    Dated: March 23, 2012.
Nathaniel J. Davis, Sr.,
Deputy Secretary
[FR Doc. 2012-7773 Filed 3-30-12; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 87, Number 226 (Friday, November 25, 2022)]
[Notices]
[Pages 72498-72499]
[FR Doc No: 2022-25764]

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DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

[Internal Agency Docket No. FEMA-4674-DR; Docket ID FEMA-2022-0001]

Virginia; 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 Commonwealth of Virginia (FEMA-4674-DR), dated September 30,
2022, and related determinations.

DATES: This change occurred on October 28, 2022.

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, Mark K.
O'Hanlon, of FEMA is appointed to act as the Federal Coordinating
Officer for this disaster.
    This action terminates the appointment of Charles M. Maltbie III 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. 2022-25764 Filed 11-23-22; 8:45 am]
BILLING CODE 9111-23-P


[Federal Register Volume 83, Number 131 (Monday, July 9, 2018)]
[Notices]
[Page 31741]
[FR Doc No: 2018-14563]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. IC18-14-000]

Commission Information Collection Activities (FERC-552); Comment
Request; Extension

AGENCY: Federal Energy Regulatory Commission, Department of Energy.

ACTION: Notice of information collection and request for comments.

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

SUMMARY: In compliance with the requirements of the Paperwork Reduction
Act of 1995, the Federal Energy Regulatory Commission (Commission or
FERC) is soliciting public comment on the currently approved
information collection, FERC- 552, Annual Report of Natural Gas
Transactions.

DATES: Comments on the collection of information are due September 7,
2018.

ADDRESSES: You may submit comments (identified by Docket No. IC18-14-
000) by either of the following methods:
     eFiling at Commission's Website: http://www.ferc.gov/docs-filing/efiling.asp.
     Mail/Hand Delivery/Courier: Federal Energy Regulatory
Commission, Secretary of the Commission, 888 First Street NE,
Washington, DC 20426.
    Instructions: All submissions must be formatted and filed in
accordance with submission guidelines at: http://www.ferc.gov/help/submission-guide.asp. For user assistance, contact FERC Online Support
by email at [email protected], or by phone at:<PHONE_NUMBER>
(toll-free), or<PHONE_NUMBER> for TTY.
    Docket: Users interested in receiving automatic notification of
activity in this docket or in viewing/downloading comments and
issuances in this docket may do so at http://www.ferc.gov/docs-filing/docs-filing.asp.

FOR FURTHER INFORMATION CONTACT: Ellen Brown may be reached by email at
[email protected], telephone at<PHONE_NUMBER>, and fax at (202)
273-0873.

SUPPLEMENTARY INFORMATION:
    Title: FERC-552, Annual Report of Natural Gas Transactions.
    OMB Control No.: 1902-0242.
    Type of Request: Three-year extension of the FERC-552 information
collection requirements with no changes to the current reporting
requirements.
    Abstract: The Commission uses the information collected in the
FERC-552 \1\ to provide greater transparency into the size of the
physical natural gas market and the types of transactions market
participants use to make physical natural gas purchases and sales. The
collection includes transactions that contribute to, or may contribute
to natural gas price indices. Many market participants rely on indices
as a way to reference market prices without taking on the risks of
active trading.
---------------------------------------------------------------------------

    \1\ FERC-552 is prescribed in 18 CFR (Code of Federal
Regulations) 260.401.
---------------------------------------------------------------------------

    FERC-552 had its genesis in the Energy Policy Act of 2005,\2\ which
added section 23 of the Natural Gas Act (NGA). Section 23 of the NGA,
among other things, directs the Commission ``to facilitate price
transparency in markets for the sale or transportation of physical
natural gas in interstate commerce, having due regard for the public
interest, the integrity of those markets, and the protection of
consumers.'' \3\
---------------------------------------------------------------------------

    \2\ Public Law 109-58.
    \3\ 15 U.S.C. 717t-2.
---------------------------------------------------------------------------

    Type of Respondents: Wholesale natural gas market participants.
    Estimate of Annual Burden: \4\ The Commission estimates the total
annual burden and cost \5\ for this information collection as follows.
---------------------------------------------------------------------------

    \4\ ``Burden'' is the total time, effort, or financial resources
expended by persons to generate, maintain, retain, or disclose or
provide information to or for a Federal agency. For further
explanation of what is included in the information collection
burden, refer to Title 5 CFR 1320.3.
    \5\ Costs (for wages and benefits) are based on wage figures
from the Bureau of Labor Statistics (BLS) for May 2017 (at https://www.bls.gov/oes/current/naics2_22.htm) and benefits information (for
December 2017, issued March 20, 2018, at https://www.bls.gov/news.release/ecec.nr0.htm). The staff estimates that 75% of the work
is done by a financial analyst (code 13-2051) at an hourly cost of
$64.35 (for wages plus benefits), and 25% of the work is done by
legal staff members (code 23-0000) at an hourly cost of $143.68 (for
wages plus benefits). Therefore the average cost (for wages plus
benefits) is rounded to $84.18/hour [or ($64.35/hour * 0.75) +
($143.68/hour * 0.25)].

                                                   FERC-552--Annual Report of Natural Gas Transactions
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                Annual cost
                                          Number of    Annual number   Total number    Average burden hours and   Total annual burden hours      per
                Category                 respondents   of responses    of responses      cost per response ($)           and cost ($)         respondent
                                                      per respondent                                                                             ($)
                                                 (1)             (2)     (1) * (2) =  (4).......................  (3) * (4) = (5)..........    (5) / (1)
                                                                                (3)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Wholesale natural gas market                     675               1             675  20 hrs.; \6\ $1,683.60....  13,500 hrs.; $1,136,430..       $1,683
 participants.
--------------------------------------------------------------------------------------------------------------------------------------------------------

    Comments: Comments are invited on: (1) Whether the collection of
information is necessary for the proper performance of the functions of
the Commission, including whether the information will have practical
utility; (2) the accuracy of the agency's estimate of the burden and
cost of the collection of information, including the validity of the
methodology and assumptions used; (3) ways to enhance the quality,
utility and clarity of the information collection; and (4) ways to
minimize the burden of the collection of information on those who are
to respond, including the use of automated collection techniques or
other forms of information technology.
---------------------------------------------------------------------------

    \6\ The staff thinks that the average estimated burden per
filing should be 20 hours (rather than the current estimate of 10
hours). There are no changes to the reporting requirements.

    Dated: June 29, 2018.
Kimberly D. Bose,
Secretary.
[FR Doc. 2018-14563 Filed 7-6-18; 8:45 am]
 BILLING CODE 6717-01-P


[Federal Register Volume 76, Number 64 (Monday, April 4, 2011)]
[Notices]
[Page 18622]
[FR Doc No: 2011-7834]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

Notice of Intent To Rule on Request To Release Airport Property
at the Helena Regional Airport, Helena, MT

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

ACTION: Notice of request to release airport property.

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

SUMMARY: The FAA proposes to rule and invite public comment on the
release of land at Helena Regional Airport (HLN) under the provisions
of Section 125 of the Wendell H. Ford Aviation Investment Reform Act
for the 21st Century (AIR 21), now 49 U.S.C. 47107(h)(2).

DATES: Comments must be received on or before May 4, 2011.

ADDRESSES: Comments on this application may be mailed or delivered to
the FAA at the following address: Mr. David S. Stelling, Manager,
Federal Aviation Administration, Northwest Mountain Region, Airports
Division, Helena Airports District Office, 2725 Skyway Drive, Suite 2,
Helena, Montana 59602.
    In addition, one copy of any comments submitted to the FAA must be
mailed or delivered to Mr. Ronald Mercer, Airport Director, Helena
Regional Airport Authority (HRAA), at the following address: Mr. Ronald
Mercer, Airport Director, Helena Regional Airport Authority, 2850
Skyway Drive, Helena, Montana 59602.

FOR FURTHER INFORMATION CONTACT: Mr. Gary Gates, Airport Planner/
Engineer, Federal Aviation Administration, Northwest Mountain Region,
Airports Division, Helena Airports District Office, 2725 Skyway Drive,
Suite 2, Helena, Montana 59602.
    The request to release property may be reviewed, by appointment, in
person at this same location.

SUPPLEMENTARY INFORMATION: The FAA invites public comment on the
request to release property at HLN under the provisions of the AIR 21
(49 U.S.C. 47107(h)(2)).
    On March 24, 2011 the FAA determined that the March 23, 2011
request submitted by HRAA to release property at HLN meets the
procedural requirements of the FAA. The FAA may approve the request, in
whole or in part, no later than May 4, 2011.
    The following is a brief overview of the request:
    HRAA is proposing the release of approximately 1,699 square feet of
non-aeronautical airport property at HLN to the State of Montana
Department of Transportation, to be used as right-of-way for the north
traffic exit lane on Interstate Highway 15 at the Custer Avenue
interchange in Helena, Montana. The interchange is expected to be
constructed in 2011 and 2012 and will provide improved access to HLN
and the community.
    Any person may inspect, by appointment, the request in person at
the FAA office listed above under the heading: FOR FURTHER INFORMATION
CONTACT.
    In addition, any person may, upon appointment and request, inspect
the application, notice and other documents germane to the application
in person at Airport Administration Office, Helena Regional Airport,
Helena, Montana.

    Issued in Helena, Montana, on March 25, 2011.
David S. Stelling,
Manager, Helena Airports District Office.
[FR Doc. 2011-7834 Filed 4-1-11; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 79, Number 124 (Friday, June 27, 2014)]
[Rules and Regulations]
[Pages 36429-36431]
[FR Doc No: 2014-15158]

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ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 300

[FRL-9739-9-OW]

National Oil and Hazardous Substances Pollution Contingency Plan;
Listing of Trustee Designations

AGENCY: Environmental Protection Agency (EPA).

ACTION: Final rule.

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

SUMMARY: In this action, the Environmental Protection Agency (EPA or
``the Agency'') is conforming the listing of trustee designations for
natural resources in the National Oil and Hazardous Substances
Pollution Contingency Plan (NCP) in accordance with Executive Order
(E.O.) 13626, ``Gulf Coast Ecosystem Restoration,'' issued on September
10, 2012. E.O. 13626 designated the Administrator of EPA and the
Secretary of the United States Department of Agriculture (USDA) to act
as additional trustees for Natural Resource Damage Assessment and
restoration solely in connection with injury to, destruction of, loss
of, or loss of use of natural resources, including their supporting
ecosystems, resulting from the Deepwater Horizon Oil Spill. The
Administrator's and Secretary's trusteeship became effective
immediately pursuant to the President's designation. This action is
being taken pursuant to a directive in the Executive Order to revise
Subpart G of the NCP to reflect the additional designations for the
Deepwater Horizon Oil Spill. This action applies to the Deepwater
Horizon Oil Spill only, and does not affect any prior or subsequent
designations.

DATES: This rule is effective on June 27, 2014.

FOR FURTHER INFORMATION CONTACT: Ms. Gale C. Bonanno, Office of Water
(4503-T), U.S. Environmental Protection Agency, 1200 Pennsylvania
Avenue NW., Washington, DC 20460; telephone number<PHONE_NUMBER>; email
address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: In accordance with E.O. 13626 of September
10, 2012 (77 FR 56749, September 13, 2012), entitled, ``Gulf Coast
Ecosystem Restoration,'' EPA is revising Subpart G of the NCP, 40 CFR
part 300, to reflect the President's designation of the Administrator
of EPA and the Secretary of Agriculture as additional trustees in
connection with injury to, destruction of, loss of, or loss of use of
natural resources, including their supporting ecosystems, resulting
from the Deepwater Horizon Oil Spill. Section 5 of E.O. 13626 provides
as follows:

    Sec. 5. Designating Trustees for Natural Resource Damage
Assessment. Given their authorities, programs, and expertise, the
Environmental Protection Agency (EPA) and the Department of
Agriculture (USDA) have institutional capacities that can contribute
significantly to the Natural Resource Damage Assessment and
restoration efforts, including scientific and policy expertise as
well as experience gained in the Task Force process and other
planning efforts in the Gulf area. In addition, EPA's and USDA's
relevant authorities cover a range of natural resources and their
supporting ecosystems, including waters, sediments, barrier islands,
wetlands, soils, land management, air resources, and drinking water
supplies. The inclusion of EPA and USDA as trustees participating in
the Natural Resource Damage Assessment and restoration efforts will
maximize coordination across the Federal Government and enhance
overall efficiencies regarding Gulf Coast ecosystem restoration.
Accordingly, without limiting the designations in Executive Order
12777 of October 18, 1991, or any other existing designations, and
pursuant to section 2706(b)(2) of title 33, United States Code, I
hereby designate the Administrator of EPA and the Secretary of
Agriculture as additional trustees for Natural Resource Damage
Assessment and restoration solely in connection with injury to,
destruction of, loss of, or loss of use of natural resources,
including their supporting ecosystems, resulting from the Deepwater
Horizon Oil Spill. The addition of these Federal trustees does not,
in and of itself, alter any existing agreements among or between the
trustees and any other entity. All Federal trustees are directed to
consult, coordinate, and cooperate with each other in carrying out
all of their trustee duties and responsibilities.
    The Administrator of EPA is hereby directed to revise Subpart G
of the National Oil and Hazardous Substances Pollution Contingency
Plan to reflect the designations for the Deepwater Horizon Oil Spill
discussed in this section.

    Today EPA is issuing a final rule revising Subpart G of the
National Oil and Hazardous Substances Pollution Contingency Plan to
reflect the designations for the Deepwater Horizon Oil Spill discussed
in Section 5 of the E.O.
    E.O. 13626 is an exercise of the President's statutory authorities
under section 311 of the Federal Water Pollution Control Act (FWPCA)
(33 U.S.C. 1321), section 1006 of the Oil Pollution Act of 1990 (OPA)
(33 U.S.C. 2706), and 3 U.S.C. 301. Under OPA section 1002, those
responsible for oil spills are liable for, among other things, damages
for injury to, destruction of,

loss of, or loss of use of, natural resources, including the reasonable
costs of assessing the damage. These damages are recoverable by a
United States trustee, a State trustee, an Indian tribe trustee, or a
foreign trustee. 33 U.S.C. 2702(b)(2)(A). Under OPA section 1006,
Federal trustees are authorized to pursue claims for natural resource
damages under 33 U.S.C. 2702(b)(2)(A) for natural resources belonging
to, managed by, controlled by, or appertaining to the United States. 33
U.S.C. 2706(a). Designated Federal trustees are authorized to: Assess
natural resource damages for the natural resources under their
trusteeship; upon request of and reimbursement from a State or Indian
tribe and at the Federal officials' discretion, assess damages for the
natural resources under the State's or tribe's trusteeship; and develop
and implement a plan for the restoration, rehabilitation, replacement,
or acquisition of the equivalent, of the natural resources under their
trusteeship. 33 U.S.C. 2706(c).
    In compliance with Section 5 of E.O. 13626, today EPA is amending
subsection 300.600(b) of Subpart G of the NCP to include a new
paragraph (5).
    The designation of the Administrator of EPA and the Secretary of
Agriculture as trustees for the Deepwater Horizon Oil Spill was
effective upon the President's signature of E.O. 13626. This action
merely conforms the NCP's trustee ``listing'' provisions for purposes
of identifying the relevant trustees for a particular incident under
OPA. See 40 CFR 300.3(b)(6); 59 FR 47385 (Sept. 15, 1994). This action
is taken solely to comply with E.O. 13626 and includes no other
amendments to the NCP or other regulatory action. This action applies
to the Deepwater Horizon Oil Spill only, and does not affect any prior
or subsequent designations.
    Regulations and procedures governing the conduct and functions of
trustees for natural resources under OPA are provided in the NCP, and
the Natural Resource Damage Assessment (NRDA) regulations at 15 CFR
Part 990 issued by the National Oceanic and Atmospheric Administration
(NOAA) pursuant to OPA section 1006(e), 33 U.S.C. 2706(e).
    Section 553 of the Administrative Procedure Act (APA), 5 U.S.C.
553(b)(3)(B), provides that, when an agency for good cause finds notice
and public procedure are impracticable, unnecessary, or contrary to the
public interest, the agency may issue a rule without providing notice
and an opportunity for public comment. There is good cause to revise
Subpart G of the NCP without providing notice and an opportunity for
public comment. Notice-and-comment rulemaking is unnecessary because
this action is ministerial in nature. The President exercised his
statutory authority under section 311 of the Federal Water Pollution
Control Act (33 U.S.C. 1321), section 1006 of the Oil Pollution Act of
1990 (33 U.S.C. 2706), and 3 U.S.C. 301 to designate the Administrator
and the Secretary as trustees and directed EPA to revise Subpart G of
the NCP accordingly. There is no discretion to alter the designation
and this is simply a revision to the text of the Code of Federal
Regulations to reflect the designations made by the President.
Providing an opportunity for notice and comment, therefore, is
unnecessary.
    There also is good cause under APA section 553(d)(3) for this
revision to become effective on the date of publication of this action.
Section 553(d)(3) of the APA allows an effective date less than 30 days
after publication ``as otherwise provided by the agency for good cause
found and published with the rule.'' 5 U.S.C. 553(d)(3). The purpose of
the 30-day waiting period prescribed in APA section 553(d)(3) is to
give affected parties a reasonable time to adjust their behavior and
prepare before the final rule takes effect. This rule, however, does
not create any new regulatory requirements or take other actions such
that affected parties would need time to prepare before the rule takes
effect. Rather, this action merely revises the listing of trustees in
Subpart G of the NCP to reflect designations done by the President
through E.O. 13626. For these reasons, there is good cause under APA
section 553(d)(3) for this revision to become effective on the date of
publication of this action.

Statutory and Executive Order Reviews

A. Executive Order 12866: Regulatory Planning and Review and Executive
Order 13563: Improving Regulation and Regulatory Review

    This action is not a ``significant regulatory action'' under the
terms of Executive Order 12866 (58 FR 51735, October 4, 1993) and is
therefore not subject to review under Executive Orders 12866 and 13563
(76 FR 3821, January 21, 2011).

B. Paperwork Reduction Act

    This action does not impose an information collection burden under
the provisions of the Paperwork Reduction Act, 44 U.S.C. 3501 et seq.
Burden is defined at 5 CFR 1320.3(b). This action merely revises the
list of trustee designations in Subpart G of the NCP to reflect new
designations the President made in E.O. 13626 and does not require the
collection of any information.

C. Regulatory Flexibility Act

    Today's final rule is not subject to the Regulatory Flexibility Act
(RFA), which generally requires an agency to prepare a regulatory
flexibility analysis for any rule that will have a significant economic
impact on a substantial number of small entities. The RFA applies only
to rules subject to notice and comment rulemaking requirements under
the Administrative Procedure Act (APA) or any other statute. This rule
is not subject to notice and comment requirements under the APA or any
other statute because it does not impose any requirements on any
entity, including small entities.

D. Unfunded Mandates Reform Act

    This action contains no Federal mandates under the provisions of
Title II of the Unfunded Mandates Reform Act of 1995 (UMRA), 2 U.S.C.
1531-1538 for State, local, or tribal governments or the private
sector. The action imposes no enforceable duty on any State, local or
tribal governments or the private sector. Therefore, this action is not
subject to the requirements of sections 202 or 205 of the UMRA. This
action is also not subject to the requirements of section 203 of UMRA
because it contains no regulatory requirements that might significantly
or uniquely affect small governments.

E. Executive Order 13132 (Federalism)

    This action does not have federalism implications. It will not have
substantial direct effects on the States, on the relationship between
the national government and the States, or on the distribution of power
and responsibilities among the various levels of government, as
specified in Executive Order 13132. This action merely revises the list
of trustee designations in Subpart G of the NCP to reflect new
designations the President made in E.O. 13626. Thus, Executive Order
13132 does not apply to this action.

F. Executive Order 13175

    This action does not have tribal implications, as specified in
Executive Order 13175 (65 FR 67249, November 9, 2000). It does not
create new binding legal requirements that substantially and directly
affect Tribes. Thus, Executive Order 13175 does not apply to this
action.

G. Executive Order 13045: Protection of Children From Environmental
Health Risks and Safety Risks

    EPA interprets EO 13045 (62 FR 19885, April 23, 1997) as applying
only to those regulatory actions that concern health or safety risks,
such that the analysis required under section 5-501 of the EO has the
potential to influence the regulation. This action is not subject to EO
13045 because it does not establish an environmental standard intended
to mitigate health or safety risks.

H. Executive Order 13211: Actions Concerning Regulations That
Significantly Affect Energy Supply, Distribution, or Use

    This action is not subject to Executive Order 13211 (66 FR 28355
(May 22, 2001)), because it is not a significant regulatory action
under Executive Order 12866.

I. Executive Order 12898: Federal Actions To Address Environmental
Justice in Minority Populations and Low-Income Populations

    Executive Order (EO) 12898 (59 FR 7629 (Feb. 16, 1994)) establishes
federal executive policy on environmental justice. Its main provision
directs federal agencies, to the greatest extent practicable and
permitted by law, to make environmental justice part of their mission
by identifying and addressing, as appropriate, disproportionately high
and adverse human health or environmental effects of their programs,
policies, and activities on minority populations and low-income
populations in the United States.
    EPA has determined that this final rule will not have
disproportionately high and adverse human health or environmental
effects on minority or low-income populations because it does not
affect the level of protection provided to human health or the
environment.

J. Congressional Review Act

    The Congressional Review Act, 5 U.S.C. 801 et seq., as added by the
Small Business Regulatory Enforcement Fairness Act of 1996, generally
provides that before a rule may take effect, the agency promulgating
the rule must submit a rule report, which includes a copy of the rule,
to each House of the Congress and to the Comptroller General of the
United States. Section 808 allows the issuing agency to make a rule
effective sooner than otherwise provided by the CRA if the agency makes
a good cause finding that notice and public procedure is impracticable,
unnecessary or contrary to the public interest. This determination must
be supported by a brief statement. 5 U.S.C. 808(2). As stated
previously, EPA has made such a good cause finding, including the
reasons therefore, and established an effective date of June 27, 2014.
EPA will submit a report containing this rule and other required
information to the U.S. Senate, the U.S. House of Representatives, and
the Comptroller General of the United States prior to publication of
the rule in the Federal Register. This action is not a ``major rule''
as defined by 5 U.S.C. 804(2).

List of Subjects in 40 CFR Part 300

    Environmental protection, Chemicals, Hazardous materials, Hazardous
substances, Intergovernmental relations, Natural resources, Oil
pollution.

    Dated: June 18, 2014.
Gina McCarthy,
Administrator.

    For the reasons set out in the preamble, 40 CFR part 300 is amended
as follows:

PART 300--NATIONAL OIL AND HAZARDOUS SUBSTANCES POLLUTION
CONTINGENCY PLAN

0
1. The authority citation for part 300 is revised to read as follows:

    Authority:  33 U.S.C. 1321(c)(2); 42 U.S.C. 9601-9657; E.O.
13626, 77 FR 56749, 3 CFR, 2013 Comp., p.306; E.O. 12777, 56 FR
54757, 3 CFR, 1991 Comp., p.351; E.O. 12580, 52 FR 2923, 3 CFR, 1987
Comp., p.193.

Subpart G--Trustees for Natural Resources

0
2. Section 300.600 is revised by adding paragraph (b)(5), to read as
follows:

Sec.  300.600  Designation of federal trustees.

* * * * *
    (b) * * *
    (5) Additional trustees for the Deepwater Horizon Oil Spill. The
Administrator of EPA and the Secretary of Agriculture shall act as
trustees in connection with injury to, destruction of, loss of, or loss
of use of natural resources, including their supporting ecosystems,
resulting from the Deepwater Horizon Oil Spill.

[FR Doc. 2014-15158 Filed 6-26-14; 8:45 am]
BILLING CODE 6550-50-P