[Federal Register Volume 85, Number 90 (Friday, May 8, 2020)]
[Proposed Rules]
[Pages 27343-27344]
[FR Doc No: 2020-09604]

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

DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 110

[Docket Number USCG-2020-0216]

Anchorage Ground; Cape Fear River Approach, North Carolina

AGENCY: Coast Guard, DHS.

ACTION: Notification of inquiry; request for comments.

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

SUMMARY: The Coast Guard is considering establishing an anchorage
ground offshore in the approaches to the Cape Fear River, NC, and
removing, relocating or otherwise modifying the existing Lockwoods
Folly Inlet explosives anchorage ground. We are considering
establishing an offshore anchorage ground in response to requests
suggesting an anchorage ground is necessary to accommodate current and
future vessel traffic, improve navigation safety, and because
traditional anchorage areas may be impacted by offshore renewable
energy development. Our consideration of changing or removing the
explosives anchorage grounds is based on growth in both the size and
draft of vessels that call on the Port of Wilmington and Military Ocean
Terminal Sunny Point. We invite your comments on whether we should
initiate a rulemaking to address these issues or maintain the status
quo.

DATES: Your comments and related material must reach the Coast Guard on
or before July 7, 2020.

ADDRESSES: You may submit comments identified by docket number USCG-
2020-0216 using the Federal portal at https://www.regulations.gov. See
the ``Public Participation and Request for Comments'' portion of the
SUPPLEMENTARY INFORMATION section for further instructions on
submitting comments.

FOR FURTHER INFORMATION CONTACT: If you have questions about this
notice of inquiry, call or email Marine Science Technician First Class
(MST1) Matthew Tyson, Sector North Carolina, U.S. Coast Guard;
telephone<PHONE_NUMBER>, email<EMAIL_ADDRESS>or Mr. Jerry
Barnes, Waterways Management Branch, Fifth Coast Guard District, U.S.
Coast Guard; telephone<PHONE_NUMBER>, email<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. Table of Abbreviations

BOEM Bureau of Ocean Energy Management
CFR Code of Federal Regulations
DHS Department of Homeland Security
FR Federal Register
NM Nautical Miles
U.S.C. United States Code
WGS84 World Geodetic System 84

II. Background and Purpose

    The Coast Guard is considering amending its regulations to
establish an anchorage ground offshore in the approaches to the Cape
Fear River, NC, and disestablish, relocate or otherwise modify the
existing Lockwoods Folly Inlet explosives anchorage. Our authority to
define and establish anchorage grounds comes from 33 U.S.C 471.
    The Cape Fear River supports a diverse marine transportation system
which includes Military Ocean Terminal Sunny Point, North Carolina
State Port of Wilmington, and several oil terminals and bulk-handling
facilities for cement, asphalt products, molasses, liquid chemicals,
sulfur, fertilizers and liquid sugar. Military Ocean Terminal Sunny
Point is a Department of Defense facility that stores and ships
ammunition, dangerous cargo and explosives for United States forces
worldwide.
    A federal navigation project provides for a channel 44 feet deep
from the ocean to a point just south of Southport, NC, and 42 feet to
the Lower Anchorage Basin and Turning Basin at Wilmington, NC. In
support of continued port growth and growth in both size and volume of
vessel traffic, the U.S. Army Corps of Engineers is considering the
need for major channel depth, width, and alignment changes. These
include deepening the existing federal navigation channel to the Port
of Wilmington, extending the ocean entrance channel farther offshore,
and widening channels in the Cape Fear River where needed.\1\
---------------------------------------------------------------------------

    \1\ 84 FR 48132, Sept. 12, 2019 (U.S. Army Corps of Engineers
``Notice of Intent to Prepare a Draft Environmental Impact Statement
(DEIS) for the Wilmington Harbor Navigation Improvement Project
Integrated Feasibility Study and Environmental Report, New Hanover
and Brunswick Counties, NC'').
---------------------------------------------------------------------------

    At the same time, the demand for offshore wind energy is
increasing. Plummeting costs, technological advancements, increasing
demand and great economic potential have combined to make offshore wind
a promising avenue for adding to a diversified national energy
portfolio. In 2018, the Bureau of Ocean Energy Management (BOEM)
developed and sought feedback on a Proposed Path Forward for Future
Offshore Renewable Energy Leasing on the Atlantic OCS (83 FR 14881,
April 6, 2018). Offshore the Carolinas, BOEM has identified several
wind energy lease and call areas and intends to work with the states of
North Carolina and South Carolina using a regional model to plan and
analyze these areas for potential future offshore wind leases.\2\
---------------------------------------------------------------------------

    \2\ See https://www.boem.gov/renewable-energy/state-activities/south-carolina-activities and https://www.boem.gov/renewable-energy/state-activities/north-carolina-activities.
---------------------------------------------------------------------------

    Traditionally, vessels awaiting entrance to the Cape Fear River
anchor outside the traffic separation scheme west of the sea buoy (Cape
Fear River Entrance Lighted Whistle Buoy CF). The Coast Guard has
concerns that as wind energy areas are developed and electrical export
cables installed, vessel traffic may be displaced or funneled into
smaller areas, and areas traditionally used for anchoring may be
impacted. Establishing an adequate and dedicated offshore anchorage
will preserve areas traditionally used for anchoring and alleviate
potential hazardous conditions of vessels anchoring in the common
approaches to the Cape Fear River.
    Notionally, the Cape Fear River Approach anchorage ground would be
located west of the pilot boarding area, near existing traffic lanes,
and in naturally deep water with charted depths between 40 and 52 feet.
The anchorage ground as contemplated is located approximately 8
nautical miles (NM) southwest of the Oak Island Light and includes the
waters bounded by a line connecting the following points:

------------------------------------------------------------------------
                 Latitude                             Longitude
------------------------------------------------------------------------
33[deg]47'59.09'' N.......................  78[deg]17'49.00'' W.
33[deg]47'59.09'' N.......................  78[deg]06'24.74'' W.
33[deg]46'01.22'' N.......................  78[deg]06'24.74'' W.
33[deg]46'01.22'' N.......................  78[deg]17'49.00'' W.
------------------------------------------------------------------------
(DATUM: WGS84)

    We are considering amending our regulations to establish this
notional anchorage. You may find an illustration of the anchorage in
the docket where indicated under ADDRESSES. Additionally, the notional
anchorage is available on the Mid-Atlantic Ocean Data Portal at http://portal.midatlanticocean.org/visualize/. See ``USCG Proposed Areas and
Studies'' under the ``Maritime'' portion of the Data Layers section.

    On January 18, 1969, regulations for the Lockwoods Folly Inlet
explosives anchorage were published (34 FR 839) outlining the area as
an anchorage reserved for the exclusive use of vessels carrying
explosives.\3\ The anchorage is located within 3 NM from shore and in
water with charted depths between 32 and 37 feet. The Coast Guard is
concerned that the anchorage may not meet the needs of safe navigation
due to the increased drafts of vessels that call on the Port of
Wilmington and Military Ocean Terminal Sunny Point, and a better
location may be possible in the interest of navigation and public
safety.\4\
---------------------------------------------------------------------------

    \3\ 33 CFR 110.170.
    \4\ Sec. 301 of the Coast Guard Authorization Act of 2010 (Pub.
L. 111-281) amended 33 U.S.C. 471 and extended the Coast Guard's
authority to establish anchorage grounds for vessels from 3 NM to 12
NM.
---------------------------------------------------------------------------

III. Information Requested

    We seek your comments on whether we should consider a proposed
rulemaking to establish a regulated anchorage ground offshore in the
approaches to the Cape Fear River, NC. In particular, the Coast Guard
requests your input to determine to what extent the notional anchorage
ground would accommodate current and future vessel traffic, improve
navigation safety, and facilitate continued growth of Cape Fear River's
ports and facilities, offshore renewable energy development and
associated economic activity; or if the status quo should be
maintained, or other actions should be considered.
    Additionally, we seek your comments on whether we should consider a
proposed rulemaking to disestablish, relocate or otherwise modify the
Lockwoods Folly Inlet explosives anchorage. In particular, the Coast
Guard requests your input to determine if there remains a need for an
explosive anchorage in this area, and if so, to what extent and for
what purpose; if a reduction in size or a shift in location of the
anchorage would meet current and anticipated industry needs; or if
other options should be considered, such as designating a portion of
the notional Cape Fear River Approach anchorage for the exclusive use
of vessels carrying explosives.

IV. Public Participation and Request for Comments

    We encourage you to submit comments through the Federal portal at
https://www.regulations.gov. If your material cannot be submitted using
https://www.regulations.gov, contact the person in the FOR FURTHER
INFORMATION CONTACT section of this document for alternate
instructions. In your submission, please include the docket number for
this notice of inquiry and provide a reason for each suggestion or
recommendation.
    We accept anonymous comments. All comments received will be posted
without change to https://www.regulations.gov and will include any
personal information you have provided. For more about privacy and
submissions in response to this document, see DHS's eRulemaking System
of Records notice (85 FR 14226, March 11, 2020).
    Documents mentioned as being available in the docket, and all
public comments, will be in our online docket at https://www.regulations.gov and can be viewed by following that website's
instructions.

     Dated: April 29, 2020.
Keith M. Smith,
Rear Admiral, U.S. Coast Guard, Commander, Fifth Coast Guard District.
[FR Doc. 2020-09604 Filed 5-7-20; 8:45 am]
 BILLING CODE 9110-04-P


Regulations.gov #:  05-11149
Comment #:          EREG-4
Submitted:
Author:             Bogdan, Kenneth
Organization:       ASSE New Jersey
City:
State:
Country:
Docket:             H023

COMMENT:
Having worked for many years for as a safety director for a demolition contractor I found that the standard relies to heavily on the use of respiratory protection. I believe contractors would benefit from better guidance on the use of feasible engineering controls such as the use of vacuums or ventilation systems.

The process of issuing respirators, providing medical surveillance and training to employees in construction can be difficult for contractors because many of these employees work for them on a short term basis. Most contractors simply will not invest the time.

Kenneth Bogdan, CSP
ASSE/NJ Construction Chairperson


[Federal Register Volume 80, Number 179 (Wednesday, September 16, 2015)]
[Notices]
[Pages 55610-55611]
[FR Doc No: 2015-23180]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings #1

    Take notice that the Commission received the following electric
corporate filings:
    Docket Numbers: EC14-112-001.
    Applicants: Talen Energy Corporation.
    Description: Motion of Talen Energy Corporation to Amend Mitigation
Plan and Request for Extended Comment Period.
    Filed Date: 9/8/15.
    Accession Number: 20150908-5278.
    Comments Due: 5 p.m. ET 9/29/15.

    Docket Numbers: EC15-204-000.
    Applicants: SunE Solar XVII Project3, LLC.
    Description: Application for Authorization Under Section 203 of the
Federal Power Act and Request for Waivers, Confidential Treatment,
Expedited Action and Shortened Comment Period of SunE Solar XVII
Project3, LLC.
    Filed Date: 9/8/15.
    Accession Number: 20150908-5302.
    Comments Due: 5 p.m. ET 9/29/15.

    Take notice that the Commission received the following electric
rate filings:
    Docket Numbers: ER14-1097-001.
    Applicants: Entergy Arkansas, Inc.
    Description: Compliance filing: EAI Compliance Filing of Executed
WDS Agreements to be effective 1/1/2015.
    Filed Date: 9/8/15.
    Accession Number: 20150908-5270.
    Comments Due: 5 p.m. ET 9/29/15.

    Docket Numbers: ER15-2455-001.
    Applicants: Koch Energy Services, LLC.

    Description: Tariff Amendment: Supplement to Application for
Market-Based Rate Authorization to be effective 10/1/2015.
    Filed Date: 9/8/15.
    Accession Number: 20150908-5267.
    Comments Due: 5 p.m. ET 9/29/15.

    Docket Numbers: ER15-2623-000.
    Applicants: Nevada Power Company.
    Description: Section 205(d) Rate Filing: Rate Schedule No. 149 &
150 NPC/DesertLink O&M and LSA together HAE to be effective 1/1/9998.
    Filed Date: 9/8/15.
    Accession Number: 20150908-5261.
    Comments Due: 5 p.m. ET 9/29/15.

    Docket Numbers: ER15-2624-000.
    Applicants: Ameren Illinois Company.
    Description: Tariff Cancellation: Notices of Cancellation for Rate
Schedule Nos. 100, 101, and 102 to be effective 7/13/2015.
    Filed Date: 9/8/15.
    Accession Number: 20150908-5264.
    Comments Due: 5 p.m. ET 9/29/15.

    Docket Numbers: ER15-2625-000.
    Applicants: Nevada Power Company.
    Description: Section 205(d) Rate Filing: Rate Schedule No. 117 1st
Amded Restated Agr. NPC/SPPC/Great Basin South to be effective 1/1/
9998.
    Filed Date: 9/8/15.
    Accession Number: 20150908-5269.
    Comments Due: 5 p.m. ET 9/29/15.

    Docket Numbers: ER15-2626-000.
    Applicants: ISO New England Inc.
    Description: ISO New England Inc. submits correction of zonal
location for the Holliston resource.
    Filed Date: 9/8/15.
    Accession Number: 20150908-5271.
    Comments Due: 5 p.m. ET 9/29/15.

    Docket Numbers: ER15-2627-000.
    Applicants: Midcontinent Independent System Operator, Inc.
    Description: Notice of Termination of the Transmission
Interconnection Agreement of Midcontinent Independent System Operator,
Inc.
    Filed Date: 9/8/15.
    Accession Number: 20150908-5274.
    Comments Due: 5 p.m. ET 9/29/15.

    Docket Numbers: ER15-2628-000.
    Applicants: ISO New England Inc., New England Power Pool
Participants Committee.
    Description: Section 205(d) Rate Filing: Revisions to Market Rule 1
Related to Resource Auditing to be effective 12/1/2015.
    Filed Date: 9/9/15.
    Accession Number: 20150909-5046.
    Comments Due: 5 p.m. ET 9/30/15.

    Docket Numbers: ER15-2629-000.
    Applicants: Southwest Power Pool, Inc.
    Description: Section 205(d) Rate Filing: 3051 Empire District and
Kansas Gas and Electric Interconnection Agreement to be effective 12/
31/9998.
    Filed Date: 9/9/15.
    Accession Number: 20150909-5047.
    Comments Due: 5 p.m. ET 9/30/15.

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

    Dated: September 9, 2015.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2015-23180 Filed 9-15-15; 8:45 am]
 BILLING CODE 6717-01-P


To: John Schakenbach/DC/USEPA/US@EPA

From: Scott Evans<EMAIL_ADDRESS>
Date: 08/23/2010 10:48AM

Subject: Re: Request for Cost Information

Yep.

---

Scott Evans

Clean Air Engineering

500 W. Wood St.

Palatine, Illinois  60067

  HYPERLINK<EMAIL_ADDRESS><EMAIL_ADDRESS>
847-654-4569

On Aug 23, 2010, at 9:47 AM,   HYPERLINK
<EMAIL_ADDRESS><EMAIL_ADDRESS>wrote:

Scott,

This is terrific.  I assume all of this can be put in the public
docket?

John Schakenbach

U.S. Environmental Protection Agency

Clean Air Markets Division

  HYPERLINK<EMAIL_ADDRESS>\t "blank"
<EMAIL_ADDRESS>
Phone:<PHONE_NUMBER>

Fax:<PHONE_NUMBER>

-----Scott Evans <  HYPERLINK<EMAIL_ADDRESS><EMAIL_ADDRESS>> wrote: -----

To: John Schakenbach/DC/USEPA/US@EPA

From: Scott Evans <  HYPERLINK<EMAIL_ADDRESS><EMAIL_ADDRESS>>

Date: 08/23/2010 10:24AM

Subject: Re: Request for Cost Information

Correct. Is this sufficient or do you need additional information?

---

Scott Evans

Clean Air Engineering

500 W. Wood St.

Palatine, Illinois  60067

  HYPERLINK<EMAIL_ADDRESS>\t "blank"<EMAIL_ADDRESS>

847-654-4569

On Aug 23, 2010, at 8:13 AM,   HYPERLINK
<EMAIL_ADDRESS>\t "blank"
<EMAIL_ADDRESS>wrote:

Scott,

Thanks much.  This is very helpful.  I assume that all the cost info
you wanted to send me was actually in the body of the email and not
attached.  Correct?

John Schakenbach

U.S. Environmental Protection Agency

Clean Air Markets Division

  HYPERLINK<EMAIL_ADDRESS>\t "blank"
<EMAIL_ADDRESS>
Phone:<PHONE_NUMBER>

Fax:<PHONE_NUMBER>

-----Scott Evans <  HYPERLINK<EMAIL_ADDRESS>\t "blank"
<EMAIL_ADDRESS>> wrote: -----

To: John Schakenbach/DC/USEPA/US@EPA

From: Scott Evans <  HYPERLINK<EMAIL_ADDRESS>\t "blank"
<EMAIL_ADDRESS>>

Date: 08/23/2010 04:12AM

Subject: Re: Request for Cost Information

John,

Attached is some cost info I put together in response to the Part 75
amendment proposal

(1) the cost of staff time to develop and implement the quality manual
required by the ASTM practice, including document control procedures,
hiring of additional personnel, performance of annual audits, and
documentation of corrective action;

The cost of preparing a quality manual depends very much on where an
AETB starts and the approach used. If we consider the worsts case
scenario -- an AETB has no quality program, no quality manual and
decides to write one themselves from scratch. In this instance, the cost
could be quite high, say 6 months of someone full time. At say, $20.00
per hour that would be $20,800. However, since the ASTM standard is
based on ISO 17025, there is a much easier approach. An AETB starting
from scratch can purchase one of the many ISO 17025 template QA/QC plans
available on the market. These range in price from about $200 - $1000
depending on the vendor. These templates include all of the required
procedures including document control procedures. Once this template is
purchased, an AETB can customize it relatively quickly. I would estimate
no more than four weeks of someone full time. At the same $20.00 per
hour rate, this would be $3200. Add in the cost of the most expensive
template, and you are looking at doing the entire thing for less than
$5000. Of course this is worst case for an AETB starting from scratch.
For AETBs that already have an established quality program, the cost
would be less.

Regarding hiring additional personnel, to the best of my knowledge, none
of the AETB's with interim accreditation have had to hire additional
personnel in order to comply with the Practice. Clean Air has certainly
hired no extra personnel to comply with the Practice.

The cost of the annual internal audits depends on the size of the
company. Small companies with only one office can easily do the internal
audit in a day with no travel. This would require the time of two
people, say one at $20/hour and one at $30/hour. This would cost about
$400 per year. For larger companies, the cost would be greater. We at
Clean Air have three offices and our annual internal audits cost about
$15,000. This includes three people with travel expenses.

Regarding corrective action documentation, once an AETB has a system in
place, the documentation of corrective actions is trivial. In our
system, for example, an individual logs in, enters a few lines to
describe the corrective action, and logs out. The whole process takes
about 10 minutes.

Overall, once the quality system is in place, the annual operating costs
for the quality system most likely range from $5,000 per year for a
small AETB to about $50,000 per year for the very largest firms such as
Clean Air. However, we should keep in mind that many (if not most) firms
already had a quality program long before this Part 75 amendment. So the
costs of this quality system are not attributable to this rule. We would
be doing it anyway. Its simply a cost of doing business.

(2) application fees and the cost of preparing applications for
accreditation and/or QI qualification;

The cost of preparing applications is trivial. Since accreditation is
not required in this rule, the costs of accreditation should not be a
factor. However, the time to prepare the application for accreditation
to STAC is less than one person for half a day (assuming the quality
system is already in place). For QI qualification, the time to complete
the application is maybe 10 minutes. It should be kept in mind that one
does not have to be a QSTI to be a qualified individual.

(3) the cost of QI exams, including tuition for preparatory courses,
exam fees, and travel expenses;

The cost of the QI exams for SES members is $140 for the first exam in
one exam session and $84 for additional exams. For non-SES members, the
cost is $155 for the first exam (includes $15 SES membership). Each
additional exam is $84. There is no need for preparatory courses. Most
people who take and pass the exams have not attended preparatory
courses. Also, travel expenses are not necessary. It is possible to get
a local proctor to administer the exams. Depending on who you find as a
proctor, you may have to pay them a modest fee ($50-$100) to administer
the tests.

(4) any new costs associated with preparation of test plans and reports
to comply with the specific criteria in the practice; and

I don't believe there are any new costs associated with test plans and
reports. We certainly have not encountered any.

(5) cost of required records storage and backup.

Likewise with records and backup. There are no additional costs
associated with record storage and backup.

John, I hope this information is useful.

Best Regards,

Scott

---

Scott Evans

Clean Air Engineering

500 W. Wood St.

Palatine, Illinois  60067

  HYPERLINK<EMAIL_ADDRESS>\t "blank"<EMAIL_ADDRESS>

847-654-4569


From:  <EMAIL_ADDRESS><EMAIL_ADDRESS>Sent: Tuesday, August 02, 2016 2:41 PM To:  Jones, DonnaLee<EMAIL_ADDRESS>Cc: <EMAIL_ADDRESS><EMAIL_ADDRESS><EMAIL_ADDRESS>Subject:  AK Steel Middletown Works Enclosure 1 responses (Parts 1-3)

Dr. Jones,

Please see the first group of attached responses to the Coke Plant ICR Enclosure 1 for AK Steel Middletown Works.  I will be submitting the associated NESHAP and Title V reports in separate emails to keep the file size down.

Let me know if you have any questions.

Thanks,

Chris Potts Senior Environmental Engineer AK Steel Middletown Works office:<PHONE_NUMBER>  cell:<PHONE_NUMBER> fax:<PHONE_NUMBER>

<< Coke-Enclosure1-QuestionnaireAnswerFile_Parts_1-3_Final.xls >>


[Federal Register Volume 85, Number 223 (Wednesday, November 18, 2020)]
[Proposed Rules]
[Pages 73438-73439]
[FR Doc No: 2020-24778]

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

ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 139

[EPA-HQ-OW-2019-0482; FRL-10016-34-OW]
RIN 2040-AF92

Vessel Incidental Discharge National Standards of Performance;
Public Meetings

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notification.

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

SUMMARY: The Environmental Protection Agency (EPA) is announcing three
virtual public meetings on its proposed rulemaking Vessel Incidental
Discharge National Standards of Performance. The proposed rulemaking
promulgated under the Vessel Incidental Discharge Act (VIDA) of 2018
was published in the Federal Register on October 26, 2020. The three
virtual public meetings will be held in November 2020 to provide a
brief background on the rulemaking, identify key changes from existing
federal requirements, and describe how to submit comments on the
proposed rulemaking. More information on the proposed standards and the
directions for meeting proceedings are available on the EPA web page at
https://www.epa.gov/vessels-marinas-and-ports/vessel-incidental-discharge-act-vida-engagement-opportunities.

DATES: The Agency will hold virtual public meetings on November 9, 10,
and 17, 2020. Please refer to the SUPPLEMENTARY INFORMATION section for
additional information on the public meetings.

ADDRESSES: EPA will be holding the public meetings virtually. Please
register for the public meetings through the following link: https://register.gotowebinar.com/register/6377760488136984080.
    Documents related to the proposal are available for public
inspection through the Federal eRulemaking Portal: https://www.regulations.gov, Docket ID No. EPA-HQ-OW-2019-0482.

FOR FURTHER INFORMATION CONTACT: Juliette Chausson, Water Division,
Environmental Protection Agency Region 9; telephone number: (415) 972-
3440; email address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. Background

    The U.S. Environmental Protection Agency (EPA) has published for
public comment a proposed rulemaking under the Vessel Incidental
Discharge Act (VIDA) that would establish national standards of
performance for marine pollution control devices for discharges
incidental to the normal operation of primarily non-military and non-
recreational vessels 79 feet in length and above into the waters of the
United States or the waters of the contiguous zone. The proposed
standards can be found in the Federal Register at 85 FR 67818, October
26, 2020. The proposed national standards of performance were developed
in coordination with the U.S. Coast Guard (USCG) and in consultation
with interested Governors. The proposed standards, once finalized and
implemented through corresponding USCG regulations addressing
implementation, compliance, and enforcement, would reduce the discharge
of pollutants from vessels and streamline the current patchwork of
federal, state, and local vessel discharge requirements. Additionally,
EPA is proposing procedures for states to follow if they choose to
petition EPA to issue an emergency order, to review any standard of
performance, regulation, or policy, to request additional requirements
with respect to discharges in the Great Lakes, or to apply to EPA to
prohibit one or more types of vessel discharges proposed for regulation
in this rulemaking into specified waters to provide greater
environmental protection.

II. Meeting Information

    EPA will be hosting three virtual public meetings on these proposed
standards to provide a brief background on the rulemaking, identify key
changes from existing federal requirements, and describe how to submit
comments on the proposed rulemaking to EPA.
    Registration for the public meetings is available at https://register.gotowebinar.com/register/6377760488136984080. More information
on the proposed standards and the directions for meeting proceedings
are available on the EPA web page at https://www.epa.gov/vessels-marinas-and-ports/vessel-incidental-discharge-act-vida-engagement-opportunities.
    The schedule for the virtual public meetings is as follows:

    1. November 9, 2020, 2 p.m. to 4 p.m. EST.
    2. November 10, 2020, 10 a.m. to 12 p.m. EST.
    3. November 17, 2020, 12 p.m. to 2 p.m. EST.
    If you require special accommodations, please contact Juliette
Chausson at<EMAIL_ADDRESS>or call<PHONE_NUMBER> to make
arrangements.

John T. Goodin,
Director, Office of Wetlands, Oceans and Watersheds, Office of Water.
[FR Doc. 2020-24778 Filed 11-17-20; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register Volume 82, Number 7 (Wednesday, January 11, 2017)]
[Notices]
[Pages 3308-3309]
[FR Doc No: 2017-00385]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 2368-000]

Algonquin Power and Utilities Corporation; Notice of Existing
Licensee's Failure To File Notice of Intent To File a New License
Application, Soliciting Pre-Application Documents and Notices of Intent
To File a License Application

    The current license for Algonquin Power and Utilities Corporation's
(Algonquin) Squa Pan Hydroelectric Project No. 2368 was issued on
December 4, 1991, for a term of 30 years, ending December 3, 2021.\1\
The 1.5-megawatt (MW) project is located on Squa Pan Stream in
Aroostook County, Maine. The project does not occupy federal land.
---------------------------------------------------------------------------

    \1\ See Maine Public Service Company, 57 FERC 62,178 (1991).
---------------------------------------------------------------------------

    The principal project works consist of: (1) A 35-foot-high, 60-
foot-long reinforced concrete dam; (2) a 45-foot-high embankment dam,
consisting of a 330-foot-long northern section and a 370-foot-long
southern section; (3) a 24-foot-wide, 13.5-foot-high radial gate; (4) a
5,043-acre reservoir at a normal maximum water surface elevation of
603.2 feet National Geodetic Vertical Datum of 1929; (5) a 26-foot-
wide, 67-foot-long concrete powerhouse with a single 1.5-MW turbine-
generator unit; and (6) a 7.6-mile-long transmission line.
    The project is subject to section 15 of the Federal Power Act
(FPA),\2\ which states that an existing licensee must ``notify the
Commission whether the licensee intends to file an application for a
new license or not . . . at least 5 years before the expiration of the
license.'' \3\ Section 5.5(d) of the Commission's regulations provides
that an existing licensee must file its notice of intent (NOI) no later
than five years before the existing license's expiration and section
5.6(a) of the Commission's regulations requires a potential applicant
to file a pre-application document (PAD) with its NOI. And, while the
integrated licensing process (ILP) is the default pre-filing process,
section 5.3(b) of the Commission's regulations allows a potential
license applicant to request to use alternative licensing procedures
when it files its NOI.
---------------------------------------------------------------------------

    \2\ See ordering paragraph (D) of the license.
    \3\ 16 U.S.C. 808(b)(1) (2012).
---------------------------------------------------------------------------

    Pursuant to FPA section 15 and 18 CFR 16.9, any application for a
new license for this project must be filed with the Commission at least
24 months prior to the expiration of the existing license. Because the
current license expires on December 3, 2021, all applications for
license for this project must be filed by December 3, 2019.
    Because the existing license expires on December 3, 2021, the NOI,
PAD, and any request to use alternative licensing procedures were due
to be filed no later than the close of business on December 5, 2016.\4\
No entity filed a timely NOI and PAD. However, Algonquin filed an NOI
on December 8, 2016, along with a request for an extension until August
2017 to file the

PAD and any request to use alternative licensing procedures.\5\
---------------------------------------------------------------------------

    \4\ The Commission's Rules of Practice and Procedure provide
that, if a filing deadline falls on a Saturday, Sunday, holiday, or
other day when the Commission is closed for business, the filing
deadline ``does not end until the close of . . . business on the
next business day. . . .'' 18 CFR 385.2007(a)(2) (2016). The filing
deadline was December 3, 2016, which fell on a Saturday. Thus, the
filing deadline was the close of business on Monday, December 5,
2016.
    \5\ Algonquin's December 8, 2016, filing indicates it is working
to finalize the sale of the project to another entity by the end of
the first quarter of 2017 and the additional time would ``allow''
the potential purchaser time to prepare a PAD and select a licensing
process. We note however that any transfer of ownership would
require Commission approval. See FPA Section 8, 16 U.S.C. 801 (2012)
and 18 CFR part 9 (2016).
---------------------------------------------------------------------------

    Pursuant to 18 CFR 16.23(a), an existing licensee subject to
section 15 of the FPA that fails to file a an NOI at least 5 years
before the existing license expires shall be deemed to have filed a
notice indicating that it does not intend to file an application for
new license. Additionally, pursuant to 18 CFR 16.24(a), an existing
licensee that informs the Commission that it does not intend to file an
application, may not file an application for a new license for the
project, either individually or in conjunction with an entity or
entities that are not currently licensees of the project.
    The Commission is not taking action on Algonquin's late-filed NOI
at this time; \6\ however, Algonquin's request to delay filing the PAD
or any request to use an alternative licensing process until August,
2017 is denied because the requested delay would unreasonably shorten
the time available for preparation of a license application and/or
conducting necessary studies. Instead, this notice sets a deadline of
120 days from the date of this notice for Algonquin and competing
applicants to file NOIs, PADs, and requests to use an alternative
licensing process.
---------------------------------------------------------------------------

    \6\ Algonquin indicates that its NOI was late due to
``administrative oversight.'' However, Commission staff sent letters
reminding Algonquin of the NOI deadline on April 1, 2015, and
February 10, 2016. In addition, Commission staff contacted Algonquin
via email on August 16, 2016 and September 27, 2016 and via phone on
March 15, 2016 and December 5, 2016, to remind it of the NOI
deadline. Algonquin suggests that due to a ``telecommunications
failure,'' it did not receive these messages.
---------------------------------------------------------------------------

    To the extent that Algonquin or any competing applicant elects or
is required to use the Commission's ILP, a process plan will be issued
within 180 days of this notice that accelerates the steps of the ILP to
allow for filing a new license application by the December 3, 2019,
deadline.
    Questions concerning this notice should be directed to John Baummer
at<PHONE_NUMBER> or<EMAIL_ADDRESS>
    Dated: January 5, 2017.
Kimberly D. Bose,
Secretary.
[FR Doc. 2017-00385 Filed 1-10-17; 8:45 am]
 BILLING CODE 6717-01-P


[Federal Register: October 13, 2005 (Volume 70, Number 197)]
[Notices]
[Page 59783-59789]
[DOCID:fr13oc05-140]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. IC-27112; File No. 812-13229]

New York Life Insurance and Annuity Corporation, et al.; Notice
of Application

October 5, 2005.

AGENCY: Securities and Exchange Commission (``Commission'' or ``SEC'').

ACTION: Notice of Application for an order pursuant to Section 26(c) of
the Investment Company Act of 1940, as amended, approving certain
substitutions of securities.

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

    Applicants: New York Life Insurance and Annuity Corporation
(``NYLIAC'') and its NYLIAC Variable Annuity Separate Account--III
(``SA-III,'' together, the ``Applicants'').
    Summary of Application: Applicants request an order of the SEC,
pursuant to Section 26(c) of the Act, approving the substitutions (the
``Substitutions'') by SA-III of its subaccounts' shares of the AmSouth
Enhanced Market Fund, AmSouth International Equity Fund, AmSouth Large
Cap Fund, and AmSouth Mid Cap Fund (the ``Replaced Funds''), each
separate portfolios of the Variable Insurance Funds, with shares of
certain series of the MainStay VP S&P 500 Index Portfolio, MainStay VP
International Equity Portfolio, MainStay VP Value Portfolio (``MainStay
Replacing Funds''), and Fidelity[supreg] VIP Mid Cap Portfolio (``VIP
Fund,'' together with the MainStay Replacing Funds, the ``Replacing
Funds''). The MainStay Replacing Funds are separate portfolios of the
MainStay VP Series Fund, Inc. (the ``MainStay VP Fund''). The
Fidelity[supreg] VIP Mid Cap Portfolio is a portfolio of the Variable
Insurance Products Fund.
    Filing Date: The Application was filed on August 12, 2005 and
amended and restated on October 3, 2005 (``Application'').
    Hearing or Notification of Hearing: An order granting the
Application will be issued unless the SEC orders a hearing. Interested
persons may request a hearing by writing to the Secretary of the SEC
and serving Applicants with a copy of the request, personally or by
mail. Hearing requests should be received by the SEC by 5:30 p.m. on
October 28, 2005, and should be accompanied by proof of service on
Applicants in the form of an affidavit or, for lawyers, a certificate
of service. Hearing requests should state the nature of the requester's
interest, the reason for the request, and the issues contested. Persons
who wish to be notified of a hearing may request notification by
writing to the Secretary of the SEC.

ADDRESSES: Secretary, SEC, 100 F Street, NE., Washington, DC 20549.
Applicants, c/o New York Life Insurance and Annuity Corporation, 1
Rockwood Road, Sleepy Hollow, NY 10591, Attn: Judy Bartlett, Esq. Copy
to Foley & Lardner, LLP, 3000 K Street, NW., Suite 500, Washington, DC
20007, Attn: Richard T. Choi and Chip Lunde.

FOR FURTHER INFORMATION CONTACT: Patrick F. Scott, Esq., Senior
Counsel, or Zandra Y. Bailes, Esq., Branch Chief, Office of Insurance
Products, Division of Investment Management (tel.<PHONE_NUMBER>).

SUPPLEMENTARY INFORMATION: The following is a summary of the
Application. The complete Application may be obtained for a fee from
the SEC's Public Reference Branch, 100 F Street, NE., Room 1580,
Washington, DC 20549 (tel.<PHONE_NUMBER>).

Applicants' Representations

    1. NYLIAC is a Delaware stock life insurance company that is
wholly-owned by New York Life Insurance Company, a New York mutual life
insurance company. NYLIAC is licensed to sell life, accident and health
insurance and annuities in the District of Columbia and all States.
    2. SA-III is a segregated asset account of NYLIAC established
pursuant to a resolution of its Board of Directors on November 30, 1994
under Delaware law to fund variable annuity policies issued by NYLIAC.
SA-III is registered under the Act as a unit investment trust. The
variable annuity policies funded by SA-III that are affected by the
Application are the AmSouth Premium Plus Variable Annuity and the
AmSouth Premium Plus II Variable Annuity (each, a ``Policy''; together,
the ``Policies''), interests under which are registered on Form N-4
under the 1933 Act (File No. 333-30706).
    3. Purchase payments under the Policies are allocated to one or
more subaccounts (``Subaccounts'') of SA-III. Income, gains, and
losses, whether or not realized, from assets allocated to SA-III are,
as provided in the Policies, credited to or charged against the
Separate Account without regard to other income, gains or losses of
NYLIAC. The assets maintained in SA-III will not be charged with any
liabilities arising out of any other business conducted by NYLIAC.
Nevertheless, all of the obligations of NYLIAC arising under the
Policies, including its commitment to make cash value payments, annuity
payments, or death benefit payments, are general corporate obligations
of NYLIAC. Accordingly, all of the assets of NYLIAC are available to
meet its obligations under its Policies. SA-III meets the definition of
``separate account'' contained in Section 2(a)(37) of the Act.
    4. Each Policy permits its owner to allocate the Policy's
accumulated value among numerous available Subaccounts, each of which
invests in a different investment portfolio of an underlying mutual
fund. Each Policy has 20 different Subaccounts (and corresponding
investment portfolios) that are currently available for this purpose.
    5. Each Policy permits its owner to transfer the Policy's
accumulated value from one Subaccount to another Subaccount of SA-III
at any time, subject to certain potential restrictions. NYLIAC reserves
the right to charge up to $30 per transfer for each transfer in excess
of 12 in any one policy year.
    6. NYLIAC reserves the right to make certain changes, including the
right to substitute, for the shares held in any Subaccount, the shares
of another underlying mutual fund, as stated in the prospectus for the
Policies contained in the registration statement.
    7. Each of the Replaced Funds is managed by AmSouth Asset
Management, Inc. (``AAMI''). AAMI is a separate, wholly-owned
subsidiary of AmSouth Bank (``AmSouth Bank''), which is owned by
AmSouth Bancorporation. As discussed below, AmSouth Bancorporation
recently informed NYLIAC that it has agreed to sell its mutual fund
management business to Pioneer Investment Management, Inc., and that it
plans to liquidate the Replaced Funds no later than October 31, 2005.
OakBrook Investments, LLC (``OakBrook'') serves as the investment sub-
adviser of the AmSouth Enhanced Market Fund and the AmSouth Mid Cap
Fund. OakBrook is 49% owned by AmSouth Bank. Dimensional Fund Advisors
(``Dimensional'') serves as the investment sub-adviser of the AmSouth
International Equity Fund.
    8. Each of the MainStay Replacing Funds is managed by New York Life
Investment Management LLC (``NYLIM''). NYLIM is a subsidiary of New
York Life Insurance Company (``New York Life''). MacKay Shields LLC
(``MacKay Shields'') serves as the investment sub-adviser of the
MainStay VP Value and MainStay VP International Equity Portfolios.
MacKay Shields is a wholly-owned but autonomously managed subsidiary of
New York Life. MacKay Shields became a Delaware limited liability
company in 1999. As of December 31, 2004, MacKay

Shields managed approximately $39,208 million in assets. The
Fidelity[supreg] VIP Mid Cap Portfolio is managed by Fidelity
Management and Research Company (``FMR''). FMR Co. Inc. (``FMRC'')
serves as sub-adviser to the Fidelity VIP Mid Cap Portfolio. FMRC has
day-to-day responsibility for choosing investments for the Portfolio.
The following affiliates of FMR and FMRC assist with foreign
investments of the Fidelity[supreg] VIP Mid Cap Portfolio: Fidelity
Management & Research (U.K.) Inc., Fidelity Management & Research (Far
East) Inc., Fidelity Investments Japan Limited, Fidelity International
Investment Advisors, Fidelity International Investment Advisors (U.K.)
Limited. Neither FMR nor any of the Fidelity[supreg] VIP Mid Cap
Portfolio's sub-advisers is affiliated with NYLIAC. No Replaced Fund or
Replacing Fund is operated by its investment manager or adviser under a
``manager of managers'' exemption from certain requirements of Section
15 of the Act.
    9. AmSouth Bancorporation recently informed NYLIAC that it is
selling its mutual fund management business to Pioneer Investment
Management, Inc., and intends to liquidate the Replaced Funds and
terminate their operations, and that the Board of Directors of the
Variable Insurance Funds has approved a plan of liquidation.
    10. In addition, Applicants contend, the Replaced Funds have not
achieved the success in NYLIAC's products that has been hoped for.
Since NYLIAC first made the Replaced Funds available with its products,
they have together garnered only approximately $36,981,551 of
accumulated value under the Policies as of July 31, 2005. The Policies
are the only variable contracts that offer the Replaced Funds as
underlying investment options. Partly as a result of the Replaced
Funds' small asset size, the Replaced Funds have experienced higher
operating expenses relative to the Replacing Funds.
    11. Against the foregoing background, Applicants state, NYLIAC has
determined that its resources would be better spent, and the interests
of Policy owners better served, if it terminates its relationship with
the Replaced Funds, via the Substitutions described herein. In
selecting Replacing Funds for the affected Policy owners, Applicants
concluded that the assets in question could be most efficiently and
effectively managed as part of the Replacing Funds. Applicants
evaluated the investment options available in other variable contracts
issued by SA-III and believe that the Replacing Funds are the best
choices based on their investment programs and their expense levels.
    12. In addition, in view of the foregoing considerations, NYLIAC
ceased offering new Policies effective September 16, 2005.
    13. Applicants submit that the investment characteristics of each
Replacing Fund are substantially similar to those of the corresponding
Replaced Fund. The investment objectives of each Replacing Fund and
corresponding Replaced Fund, as described in their prospectuses, are as
follows:

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

------------------------------------------------------------------------
AmSouth Large Cap                    MainStay VP Value
------------------------------------
Long term capital appreciation by    Maximum long-term total return from
 investing in equity securities of    a combination of capital growth
 large-cap U.S. companies.            and income.
------------------------------------
AmSouth Enhanced Market              MainStay VP S&P 500 Index
------------------------------------
Long-term capital growth by          Investment results that correspond
 investing primarily in a             to the total return performance
 diversified portfolio of common      (and reflect reinvestment of
 stocks that are representative of    dividends) of publicly traded
 the U.S. stock market.               common stocks represented by the
                                      S&P 500[supreg] Index.
------------------------------------
AmSouth Mid Cap                      Fidelity[supreg] VIP Mid Cap
------------------------------------
Capital appreciation by investing    Long-term growth of capital.
 in equity securities of mid-cap
 companies.
------------------------------------
AmSouth International Equity         MainStay VP International Equity
------------------------------------
Capital appreciation by investing    Long-term growth of capital by
 in equity securities of large        investing in a portfolio
 foreign companies.                   consisting primarily of non-U.S.
                                      equity securities. Current income
                                      is a secondary objective.
------------------------------------------------------------------------

    14. Applicants represents in the Application that the principal
investment strategies of each Replacing Fund and corresponding Replaced
Fund are as follows:

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

------------------------------------------------------------------------
AmSouth Large Cap                    MainStay VP Value
------------------------------------
Under normal market conditions, the  The Portfolio normally invests at
 Fund will invest at least 80% of     least 65% of its total assets in
 its assets in equity securities of   common stocks that MacKay Shields
 U.S. companies having $1 billion     believes were ``undervalued''
 or more in market capitalization,    (selling below their value) when
 and will primarily invest in         purchased; typically pay
 companies that AAMI believes have    dividends, although there may be
 the potential to provide capital     non-dividend paying stocks if they
 appreciation. AAMI seeks to          meet the ``undervalued'' criteria;
 diversify the Fund's portfolio       and are listed on a national
 within industries that AAMI          securities exchange or are traded
 believes to be among the fastest     in the over-the-counter market.
 growing segments of the U.S.        The Portfolio normally invests in
 economy. A portion of the Fund's     U.S. common stocks that:
 assets may be invested in            MacKay Shields believes
 preferred stocks or bonds            are ``undervalued'' (selling below
 convertible into common stocks.      their value) when purchased,
                                        Typically pay dividends,
                                        although there may be non-
                                        dividend paying stocks if they
                                        meet the ``undervalued''
                                        criterion, and
                                      Are listed on a national
                                      securities exchange or are traded
                                      in the over-the-counter market.
------------------------------------

AmSouth Enhanced Market              MainStay VP S&P 500 Index
------------------------------------
Under normal market conditions, the  The Portfolio normally invests at
 Fund will invest primarily in a      least 80% of its total assets in
 broadly diversified portfolio of     stocks in the S&P 500[supreg]
 securities represented in the S&P    Index in the same proportion, to
 500[supreg] Index, overweighting     the extent feasible, as they are
 relative to their index weights      represented in the S&P 500[supreg]
 those that OakBrook believes to be   Index.
 undervalued compared to others in   NYLIM uses statistical techniques
 the S&P 500[supreg] Index. The       to determine which stocks are to
 Fund seeks to maintain risk          be purchased or sold to replicate
 characteristics similar to those     the S&P 500[supreg] Index to the
 of the S&P 500[supreg] Index.        extent feasible. From time to
 OakBrook's stock selection process   time, adjustments may be made in
 utilizes computer-aided              the Portfolio's holdings because
 quantitative analysis. OakBrook's    of changes in the composition of
 computer models use many types of    the S&P 500[supreg] Index. The
 data, but emphasize technical data   correlation between the
 such as price and volume             performance of the Portfolio and
 information. Applying these models   the S&P 500[supreg] Index is
 to stocks within the S&P             expected to be at least 0.95,
 500[supreg] Index, OakBrook          before fees and expenses, on an
 attempts to generate more capital    annual basis. A correlation of
 growth than that of the S&P          1.00 would indicate perfect
 500[supreg] Index.                   correlation, which would be
                                      achieved when the net asset value
                                      of the Portfolio, including the
                                      value of its dividend and capital
                                      gains distributions, increases or
                                      decreases in exact proportion to
                                      changes in the S&P 500[supreg]
                                      Index.
                                     The Portfolio's investments also
                                      include S&P 500[supreg] Index
                                      futures that are used for cash
                                      management purposes.
------------------------------------
AmSouth Mid Cap Fund                 Fidelity[supreg] VIP Mid Cap
------------------------------------
Under normal market conditions, the  The Portfolio's principal
 Fund will invest at least 80% of     investment strategies include:
 its assets in a broadly              Normally investing
 diversified portfolio of             primarily in common stocks.
 securities issued by medium          Normally investing at
 capitalization companies drawn       least 80% of assets in securities
 from the Standard & Poor's Mid Cap   of companies with medium market
 400[supreg] Index (``S&P Mid Cap     capitalizations (which, for
 400[supreg] Index''),                purposes of this fund, are those
 overweighting relative to their      companies with market
 index weights those that OakBrook    capitalizations similar to
 believes to be undervalued           companies in the Russell
 compared to others in the S&P Mid    Midcap[supreg] Index or the
 Cap 400[supreg] Index. The Fund      Standard & Poor's[supreg] MidCap
 seeks to maintain risk               400 Index (S&P[supreg] MidCap
 characteristics similar to those     400)).
 of the S&P Mid Cap 400[supreg]       Potentially investing in
 Index.                               companies with smaller or larger
                                      market capitalizations.
                                      Investing in domestic and
                                      foreign issuers.
                                      Investing in either
                                      ``growth'' stocks or ``value''
                                      stocks or both.
                                      Using fundamental analysis
                                      of each issuer's financial
                                      condition and industry position
                                      and market and economic conditions
                                      to select investments.
------------------------------------
OakBrook's stock selection process
 utilizes computer-aided
 quantitative analysis. Stringent
 risk controls at the style,
 industry and individual stock
 levels help ensure the Fund
 maintains risk characteristics
 similar to those of the S&P Mid
 Cap 400[supreg] Index. OakBrook's
 computer models use many types of
 data, but emphasize technical data
 such as price and volume
 information. Applying these models
 to securities comprising the S&P
 Mid Cap 400[supreg] Index,
 OakBrook hopes to generate more
 capital growth than that of the
 S&P Mid Cap 400[supreg] Index.
------------------------------------
AmSouth International Equity Fund    MainStay VP International Equity
------------------------------------
Under normal market conditions, the  The Portfolio normally invests at
 Fund will invest at least 80% of     least 80% of its assets in equity
 its assets in equity securities of   securities, and invests primarily
 large foreign companies. The Fund    in a diversified portfolio of
 intends to invest primarily in       equity securities of issuers,
 companies in economically            wherever organized, who do
 developed countries whose stocks     business mainly outside the United
 Dimensional believes are             States. Investments will be made
 undervalued at the time of           in a variety of countries, with a
 investment. While Dimensional may    minimum of five countries other
 consider other factors,              than the United States. This
 Dimensional generally determines     includes countries with
 that a stock is undervalued if it    established economies as well as
 has a high book value in relation    emerging market countries that
 to its market value.                 MacKay Shields believes present
                                      favorable opportunities.
                                     The Portfolio's subadvisor seeks to
                                      identify investment opportunities
                                      by pursuing a bottom up, stock
                                      selection investment discipline.
                                      Proprietary, quantitative and
                                      qualitative tools are used to
                                      identify attractive companies. In-
                                      depth, original, fundamental
                                      research is performed on
                                      identified companies to assess
                                      their business and investment
                                      prospects. In conducting the
                                      research, particular attention is
                                      paid to the generation and
                                      utilization of cash flows, the
                                      returns on invested capital and
                                      the overall track record of
                                      management in creating shareholder
                                      value.
                                     Portfolios are constructed by
                                      combining securities with low
                                      correlation. Quantitative tools
                                      are used for risk control at the
                                      portfolio level. Country
                                      allocations in the Portfolio are a
                                      result of the bottom up, stock
                                      selection process. To reduce risk,
                                      an attempt is made at the
                                      portfolio level to stay within a
                                      reasonable range of the key
                                      constituents of the benchmark,
                                      unless the stock selection process
                                      strongly argues against it.

                                     The Portfolio may buy and sell
                                      currency on a spot basis and enter
                                      into foreign currency forward
                                      contracts for hedging purposes. In
                                      addition, the Portfolio may buy or
                                      sell foreign currency options,
                                      securities and securities index
                                      options and enter into swap
                                      agreements and futures contracts
                                      and related options. These
                                      techniques may be used for any
                                      legally permissible purpose,
                                      including to increase the
                                      Portfolio's return.
                                     The subadvisor may sell a security
                                      if it no longer believes the
                                      security will contribute to
                                      meeting the objective of the
                                      Portfolio. In considering whether
                                      to sell a security, the subadvisor
                                      may evaluate, among other things,
                                      the condition of foreign economies
                                      and meaningful changes in the
                                      issuer's financial condition and
                                      competitiveness.
------------------------------------------------------------------------

    15. With respect to the principal investment risks of each
Replacing Fund compared to each and corresponding Replaced Fund,
Applicants submit that they are substantially similar, and that they
are as follows:

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

------------------------------------------------------------------------
AmSouth Large Cap                    MainStay VP Value
------------------------------------
Investment risk, market risk         Changing economic, stock market,
 (including those particular to       industry and company conditions,
 large cap growth stocks), interest   the risks inherent in management's
 rate risk, credit risk, and active   ability to anticipate such changes
 trading risk.                        that can adversely affect the
                                      value of the Portfolio's holdings,
                                      and the risks associated with
                                      value stocks. The Portfolio also
                                      may experience high portfolio
                                      turnover.
------------------------------------
AmSouth Enhanced Market              MainStay VP S&P 500 Index
------------------------------------
Investment risk, market risk         Changing economic, stock market,
 (including those particular to       industry and company conditions
 large capitalization companies       which can adversely affect the
 represented in the S&P 500 Index,    value of the Portfolio's holdings,
 growth stocks and value stocks),     risks associated with the value of
 interest rate risk, credit risk,     the S&P 500 [supreg] Index, and
 derivatives risk and active          the potential inability to mirror
 trading risk.                        the S&P 500 [supreg] Index. In
                                      addition, the Portfolio is subject
                                      to the risks associated with
                                      derivatives instruments.
------------------------------------
    AmSouth Mid Cap                  Fidelity[supreg] VIP Mid Cap
------------------------------------
Investment risk, market risk         Stock market volatility, foreign
 (including those particular to       exposure, issuer-specific changes,
 growth stocks, value stocks and      and mid cap investing.
 mid cap companies), interest rate
 risk credit risk, derivatives risk
 and active trading risk.
------------------------------------
AmSouth International Equity         MainStay VP International Equity
------------------------------------
Investment risk, market risk,        Changing economic, stock market,
 credit risk, derivatives risk and    industry and company conditions
 active trading risk. The Fund also   and the risks inherent in
 is subject to foreign securities     management's ability to anticipate
 risk.                                such changes that can adversely
                                      affect the value of the
                                      Portfolio's holdings. The
                                      Portfolio also is subject to
                                      foreign securities risk and
                                      emerging markets risk. In
                                      addition, the Portfolio is subject
                                      to the risks associated with
                                      derivatives instruments. The
                                      Portfolio also may experience high
                                      portfolio turnover.
------------------------------------------------------------------------

    16. The table below compares fees and expenses of each Replaced
Fund and each corresponding Replacing Fund as of December 31, 2004. As
the table shows, the total expenses of each Replaced Fund are higher
than the total expenses of the corresponding Replacing Fund.

----------------------------------------------------------------------------------------------------------------
                                                                             Replacing funds  MainStay VP Value
                                             Replaced funds  AmSouth Large                (percent)
                                                     Cap  (percent)        -------------------------------------
                                                                              Initial Class      Service Class
----------------------------------------------------------------------------------------------------------------
Management Fee.............................  0.70.........................               0.36               0.36
Shareholder Service Fee....................  0.25.........................               None               None
Rule 12b-1 Fee.............................  None.........................               None               0.25
Other Expenses.............................  0.70.........................               0.29               0.29
Gross Operating Expenses...................  1.65.........................               0.65               0.90
Net (After Waiver) Expenses................  1.05.........................               0.65               0.90
                                                AmSouth Enhanced Market           MainStay VP S&P 500 Index
                                                                                Initial Class      Service Class
Management Fee.............................  0.45.........................               0.10               0.10
Shareholder Service Fee....................  0.25.........................               None               None
Rule 12b-1 Fee.............................  None.........................               None               0.25
Other Expenses.............................  0.93.........................               0.29               0.29
Gross Operating Expenses...................  1.63.........................               0.39               0.64
Net (After Waiver) Expenses................  1.01.........................               0.39               0.64
                                                    AmSouth Mid Cap             Fidelity[supreg] VIP Mid Cap
                                                                                Service Class 2

Management Fee.............................  0.90.........................                  0.57
Shareholder Service Fee....................  0.25.........................                  None
Rule 12b-1 Fee.............................  None.........................                  0.25
Other Expenses.............................  1.08.........................                  0.14
Gross Operating Expenses...................  2.23.........................                  0.96
Net (After Waiver) Expenses................  1.25.........................                  0.96
                                              AmSouth International Equity    MainStay VP International Equity
                                                                                Initial Class      Service Class
Management Fee.............................  1.00.........................               0.60               0.60
Shareholder Service Fee....................  0.25.........................               None               None
Rule 12b-1 Fee.............................  None.........................               None               0.25
Other Expenses.............................  0.79.........................               0.39               0.39
Gross Operating Expenses...................  2.04.........................               0.99               1.24
Net (After Waiver) Expenses................  1.43.........................               0.99               1.24
----------------------------------------------------------------------------------------------------------------

    In each case, the class of Replaced Funds available under the
Policies impose an asset-based shareholder service fee equal to 0.25%
per annum of the Fund's average daily net assets. In each case, the
service class of the MainStay Replacing Funds that will be available
under the Policies issued on or after June 2, 2003, and the service
class 2 of the Fidelity[supreg] VIP Mid Cap Portfolio, impose an asset-
based sales charge pursuant to Rule 12b-1 under the Act (``Rule 12b-1
fee'') equal to 0.25% per annum of the Fund's average daily net assets.
In each case, the initial class of the MainStay Replacing Funds that
will be available under Policies issued prior to June 2, 2003, do not
impose any Rule 12b-1 fee.
    17. The Application indicates that, the net assets of each Fund as
of July 31, 2005 were as follows (in thousands):

------------------------------------------------------------------------
           Replaced fund                        Replacing fund
------------------------------------------------------------------------
AmSouth Enhanced Market Fund--       MainStay VP S&P 500 Index
 $7,744                               Portfolio--$1,457,870
AmSouth International Equity Fund--  MainStay VP International Equity
 $13,546                              Portfolio--$282,428
AmSouth Large Cap Fund--$8,852       MainStay VP Value Portfolio--
                                      $630,226
AmSouth Mid Cap Fund--$6,839         Fidelity[supreg] VIP Mid Cap
                                      Portfolio--$4,964,945
------------------------------------------------------------------------

    Applicants state that, the table above demonstrates that each
Replacing Fund has a significantly greater asset size than the Replaced
Fund to which it corresponds, and that the principal potential
advantages of size in the circumstances presented here would be
economies of scale and ease of diversification.
    18. Each Substitution will take place at the applicable Funds'
relative per share net asset values determined on the date of the
Substitution in accordance with Section 22 of the Act and Rule 22c-1
thereunder. Accordingly, Applicants state, the Substitutions will have
no financial impact on any Policy owner. Each Substitution will be
effected by having each Subaccount that invests in a Replaced Fund
redeem its shares of the Replaced Fund at the net asset value
calculated on the date of the Substitution and purchase shares of the
appropriate class of the appropriate Replacing Fund at the net asset
value calculated on the same date. Proceeds of AmSouth Large Cap Fund,
AmSouth Enhanced Market Fund and AmSouth International Equity Fund
shares applicable to Policies purchased prior to June 2, 2003 will be
used to purchase initial class shares of the MainStay VP S&P 500 Index
Portfolio, MainStay VP International Equity Portfolio and MainStay VP
Value Portfolio, respectively. Proceeds of AmSouth Large Cap Fund,
AmSouth Enhanced Market Fund and AmSouth International Equity Fund
shares applicable to Policies purchased on or after June 2, 2003 will
be used to purchase service class shares of the MainStay VP S&P 500
Index Portfolio, MainStay VP International Equity Portfolio and
MainStay VP Value Portfolio, respectively. Proceeds of AmSouth Mid Cap
Fund shares will be used to purchase service class 2 shares of the
Fidelity[supreg] VIP Mid Cap Portfolio.
    19. To the extent that NYLIAC imposes any limit on the number of
subaccounts that may be used over the life of a Policy, no Substitution
will be counted as giving rise to use of a new Subaccount for such
purpose.
    20. The Applicants state that, NYLIAC will pay all expenses and
transaction costs of the Substitutions, including all legal,
accounting, and brokerage expenses relating to the Substitutions, the
below described disclosure documents, and the Application. No costs
will be borne directly or indirectly by Policy owners. Affected Policy
owners will not incur any fees or charges as a result of the
Substitutions. Nor will their rights or the obligations of NYLIAC under
the Policies be altered in any way. The Substitutions will not cause
the fees and charges under the Policies currently being paid by Policy
owners to be greater after the Substitutions than before the
Substitutions.
    21. The prospectuses for all of the Policies have disclosed that
the issuing insurance company has the right to substitute any other
mutual fund shares for the shares in which a Subaccount is investing at
any time.
    22. Applicants state that, the Substitutions requested in the
Application were described in supplements to the applicable
prospectuses for the Policies filed with the Commission or in other
supplemental disclosure documents (collectively, ``Supplements'') and
mailed to all affected Policy owners. Each Supplement gave the relevant
Policy owners notice of the Substitution that would affect their
Policies and described the reasons for engaging in that Substitution.
The Supplements also informed existing Policy owners with values
allocated to a Subaccount

investing in a Replaced Fund that no additional amounts may be
allocated to the Subaccounts that invest in that Fund on or after the
date of Substitution. In addition, the Supplements informed these
affected Policy owners that they will have an opportunity to reallocate
their accumulated value:
     Prior to a Substitution, from the Subaccount investing in
the Replaced Fund to one or more Subaccounts investing in other Funds
available under the applicable Policy or the fixed account without the
imposition of any transfer charge or limitation (except potentially
harmful transfers) \1\ and without diminishing the number of free
transfers that otherwise may be made in a given Policy year, or
---------------------------------------------------------------------------

    \1\ The exception for potentially harmful transfers refers to
NYLIAC's procedures designed to limit potentially harmful transfers
such as market timing as described under ``Limits on Transfers'' in
the prospectus contained in the Policy Registration Statement.
---------------------------------------------------------------------------

     For 30 days after a Substitution, from a Subaccount
investing in the Replacing Fund to one or more Subaccounts investing in
other Funds available under the applicable Policy or the fixed account
without the imposition of any transfer charge or limitation (except
potentially harmful transfers) and without diminishing the number of
free transfers that otherwise may be made in a given Policy year.
    23. Applicants aver that each affected Policy owner was provided
with a prospectus for each relevant Replacing Fund, which accompanied
the Supplement discussed above. Within five days after a Substitution,
NYLIAC will send to its affected Policy owners written confirmation
that the Substitutions have occurred. The confirmations will also
identify the shares of the Replaced Funds that have been eliminated and
the shares of the Replacing Funds that have been substituted. That
confirmation will reiterate the free transfer rights disclosed in the
Supplements that such owners will have previously received.

Applicants' Legal Analysis

    1. Section 26(c) of the Act makes it unlawful for any depositor or
trustee of a registered unit investment trust holding the security of a
single issuer to substitute another security for such security unless
the Commission approves the substitution. Section 26(c) of the Act
provides the Commission will issue an order approving such a
substitution if the evidence establishes that it is consistent with the
protection of investors and the purposes fairly intended by the policy
and provisions of the Act.
    2. Section 26(c) of the Act (then denominated as Section 26(b)) was
enacted as part of the Investment Company Act Amendments of 1970.
Section 26(a)(4)(B) of the Act had theretofore required only that the
trust instrument of a unit investment trust require that the sponsor or
trustee notify the trust's shareholders within five days after a
substitution of underlying securities. The legislative history of
Section 26(c) describes its underlying purpose as follows:

    The proposed amendment recognizes that in the case of a unit
investment trust holding the securities of a single issuer
notification to shareholders does not provide adequate protection
since the only relief available to the shareholders, if
dissatisfied, would be to redeem their shares. A shareholder who
redeems and reinvests the proceeds in another unit investment trust
or in an open-end company would under most circumstances be subject
to a new sales load. The proposed amendment would close this gap in
shareholder protection by providing for Commission approval of the
substitution. The Commission would be required to issue an order
approving the substitution if it finds the substitution consistent
with the protection of investors and the purposes fairly intended by
the policy and provisions of the Act.

    3. The legislative history makes it clear that the purpose of
Section 26(c) is to protect the expectation of investors in a unit
investment trust that the unit investment trust will accumulate shares
of a particular issuer by preventing unscrutinized substitutions, which
might, in effect, force shareholders dissatisfied with the substituted
security to redeem their shares, thereby possibly incurring either a
loss of the sales load deducted from initial premium payments, an
additional sales load upon reinvestment of the redemption proceeds, or
both. Moreover, a Policy owner forced to redeem may suffer adverse tax
consequences. Section 26(c) affords this protection to investors by
preventing a depositor or trustee of a unit investment trust that holds
shares of one issuer from substituting for those shares the shares of
another issuer, unless the Commission approves that substitution.
    4. Applicants assert that the purposes, terms, and conditions of
the Substitutions are consistent with the principles and purposes of
Section 26(c) and do not entail any of the abuses that Section 26(c) is
designed to prevent. The Substitutions are necessary and appropriate
because, for the reasons discussed above, continuing to use the
Replaced Funds as a funding medium for the Policies is no longer
consistent with, or possible under, the business plan that Applicants
are now pursuing in order to enhance the success of the Policies and
the benefits to Policy owners. Moreover, as also noted above, each
Policy has reserved to the issuing insurance company the right to make
such substitutions, and each such company has specifically disclosed
this reserved right in the prospectuses for its Policies.
    5. Applicants contend that the Substitutions will not result in the
type of costly forced redemption that Section 26(c) was intended to
guard against and, for the following reasons, are consistent with the
protection of investors and the purposes fairly intended by the Act.
    6. The MainStay VP Value Portfolio is an appropriate Fund to which
to move the accumulated values of Policy owners with values allocated
to the AmSouth Large Cap Fund, because its investment program, like
that of the AmSouth Large Cap Fund, involves seeking long-term total
return. The MainStay VP S&P 500 Index Portfolio is an appropriate Fund
to which to move the accumulated values of Policy owners with values
allocated to the AmSouth Enhanced Market Fund, because its investment
program, like that of the AmSouth Enhanced Market Fund, involves
investing in a diversified selection of common stocks represented by
the S&P 500 Index. The Fidelity [supreg] VIP Mid Cap Portfolio is an
appropriate Fund to which to move the accumulated values of Policy
owners with values allocated to the AmSouth Mid Cap Fund, because its
investment objective, like that of the AmSouth Mid Cap Fund, involves
growth of capital by investing, primarily, in companies with market
capitalizations that, at the time of investment, are similar to the
companies in the S&P MidCap 400 [supreg] Index. The MainStay VP
International Equity Portfolio is an appropriate Fund to which to move
the accumulated values of Policy owners with values allocated to the
AmSouth International Equity Fund, because its investment program, like
that of the AmSouth International Equity Fund, involves seeking growth
of capital by investing in a portfolio consisting primarily of non-US
equity securities.
    7. The costs of the Substitutions (including brokerage, legal,
accounting, and other expenses) will be borne by NYLIAC and will not be
borne by Policy owners. No charges will be assessed to the Policy
owners to effect the Substitutions. It is expected that each
Substitution will be effected by redeeming shares of the Replaced Fund
for cash and using the cash to purchase shares of the corresponding
Replacing Fund.

    8. For each fiscal period (not to exceed a fiscal quarter) during
the 24 months following the date of the Substitutions, NYLIAC will, as
a condition of any Commission order approving the Substitutions, for
each Policy outstanding on the date of the Substitution, adjust the
Policy values to the extent necessary to effectively reimburse Policy
owners invested in a MainStay Replacing Fund for their proportionate
share of any amount by which the annual rate of the MainStay Replacing
Fund's total operating expenses (after any expense waivers or
reimbursements) for that fiscal period, as a percentage of the Fund's
average daily net assets, plus the annual rate of any asset-based
charges (excluding any such charges that are for premium taxes, or for
Policy riders added after December 31, 2004) deducted under the terms
of the owner's Policy for that fiscal period, exceed the sum of:
    (a) The annualized rate of the corresponding Replaced Fund's total
operating expenses, as a percentage of such Replaced Fund's average
daily net assets, for the twelve months ended December 31, 2004; plus
    (b) The annual rate of any asset-based charges (excluding any such
charges that are for premium taxes), deducted under that Policy for
such twelve months.
    9. NYLIAC represents that the substitution and the selection of the
Fidelity [supreg] VIP Mid Cap Portfolio was not motivated by any
financial consideration paid or to be paid to NYLIAC or its affiliates
by the Fidelity [supreg] VIP Mid Cap Portfolio, its advisor or
underwriter, or their respective affiliates. In connection with assets
held under Policies affected by the Substitutions, NYLIAC will not
receive, for 36 months following the Substitution, any direct or
indirect benefits from the Fidelity [supreg] VIP Mid Cap Portfolio, or
its advisor or underwriter (or their affiliates), at a rate higher than
that which they had received from the AmSouth Mid Cap Fund, its advisor
or underwriter (or their affiliates), including without limitation Rule
12b-1, shareholder service, administration, or other service fees, or
revenue sharing or other arrangements.
    10. All affected Policy owners will be given notice of the
Substitutions prior to the Substitutions, and will have an opportunity
to make the following transfers of their accumulated value without the
imposition of any charge or limitation (except potentially harmful
transfers, as described above) and without diminishing the number of
charge-free transfers that otherwise may be made in a Policy year:
     Transfers of accumulated value from a Subaccount investing
in a Replaced Fund to one or more Subaccounts investing in other Funds
available under the applicable Policy or the fixed account, from the
date of notice until the date of Substitution, and
     Transfers of accumulated value from a Subaccount investing
in a Replacing Fund as a result of a Substitution to one or more
Subaccounts investing in other Funds available under the applicable
Policy or the fixed account, for 30 days after a Substitution.
    11. Within five days after each substitution, NYLIAC will send to
the affected Policy owners written confirmation that the Substitutions
have occurred and identify the shares of the Replaced Funds that have
been eliminated and the shares of the Replacing Funds that have been
substituted.
    12. The Substitutions will in no way alter the insurance benefits
to Policy owners or the contractual obligations of NYLIAC. The
Substitutions will in no way alter the tax treatment of owners in
connection with their Policies, and no tax liability will arise for
Policy owners as a result of the Substitutions.

Conclusion

    Applicants request an order of the Commission pursuant to Section
26(c) of the Act approving the proposed Substitutions under the terms
and subject to the conditions set forth herein. Section 26(c), in
pertinent part, provides that the Commission shall issue an order
approving a substitution of securities if the evidence establishes that
it is consistent with the protection of investors and the purposes
fairly intended by the policy and provisions of the Act. For the
reasons and upon the facts set forth above, Applicants respectfully
submit that the Substitutions meet the standards set forth in Section
26(c) and that the approval requested therefore, should be granted.

    For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
J. Lynn Taylor,
Assistant Secretary.
 [FR Doc. E5-5598 Filed 10-12-05; 8:45 am]

BILLING CODE 8010-01-P


[Federal Register Volume 88, Number 56 (Thursday, March 23, 2023)]
[Notices]
[Page 17632]
[FR Doc No: 2023-05914]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-97156; File No. SR-MRX-2023-04]

Self-Regulatory Organizations; Nasdaq MRX, LLC; Notice of
Withdrawal of Proposed Rule Change To Amend the Exchange Pricing
Schedule at Options 7, Section 3

March 17, 2023.
    On January 30, 2023, Nasdaq MRX, LLC (``MRX'') filed with the
Securities and Exchange Commission (``Commission''), pursuant to
Section 19(b)(1) of the Securities Exchange Act of 1934 \1\ and Rule
19b-4 thereunder,\2\ a proposed rule change to amend the maker fees
assessed to market makers. The proposed rule change was published for
comment in the Federal Register on February 21, 2023.\3\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 96924 (February 14,
2023), 88 FR 10585.
---------------------------------------------------------------------------

    On March 1, 2023, MRX withdrew the proposed rule change (SR-MRX-
2023-04).
---------------------------------------------------------------------------

    \4\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\4\
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2023-05914 Filed 3-22-23; 8:45 am]
BILLING CODE 8011-01-P