[Federal Register Volume 86, Number 225 (Friday, November 26, 2021)]
[Notices]
[Pages 67527-67531]
[FR Doc No: 2021-25751]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-93624; File No. SR-CboeBZX-2021-056]

Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of
Filing of Amendment No. 2 and Order Granting Accelerated Approval of a
Proposed Rule Change, as Modified by Amendment No. 2, To Allow the
Invesco Focused Discovery Growth ETF and Invesco Select Growth ETF To
Strike and Publish an Intra-Day Net Asset Value

November 19, 2021.

I. Introduction

    On August 12, 2021, Cboe BZX Exchange, Inc. (``Exchange'' or
``BZX'') filed with the Securities and Exchange Commission
(``Commission''), pursuant to Section 19(b)(1) of the Securities
Exchange Act of 1934 (``Act'' or ``Exchange Act'') \1\ and Rule 19b-4
thereunder,\2\ a proposed rule change to allow the Invesco Focused
Discovery Growth ETF and Invesco Select Growth ETF (collectively,
``Funds''), the shares of which (collectively, ``Shares'') BZX
currently lists and trades, to strike and publish an intra-day net
asset value (``NAV'') and an end of-day NAV. The proposed rule change
was published for comment in the Federal Register on August 24,
2021.\3\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 92701 (August 18,
2021), 86 FR 47359.
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    On September 28, 2021, pursuant to Section 19(b)(2) of the Act,\4\
the Commission designated a longer period within which to approve the
proposed rule change, disapprove the proposed rule change, or institute
proceedings to determine whether to disapprove the proposed rule
change.\5\ On November 5, 2021, the Exchange filed Amendment No. 1,
which replaced and superseded the proposed rule change as originally
filed. On November 16, 2021, the Exchange filed Amendment No. 2, which
replaced and superseded the proposed rule change as modified by
Amendment No. 1.\6\ The Commission has received no comments on the
proposed rule change. The Commission is publishing this notice to
solicit comments on the proposed rule change, as modified by Amendment
No. 2, from interested persons and is approving the proposed rule
change, as modified by Amendment No. 2, on an accelerated basis.
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    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 93144, 86 FR 54774
(October 4, 2021). The Commission designated November 22, 2021, as
the date by which the Commission shall approve or disapprove, or
institute proceedings to determine whether to disapprove, the
proposed rule change.
    \6\ Amendments No. 1 and No. 2 are available on the Commission's
website at https://www.sec.gov/comments/sr-cboebzx-2021-056/srcboebzx2021056.htm.
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II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change, as Modified by Amendment
No. 2

    In its filing with the Commission, the Exchange included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these 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 aspects of such
statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change, as Modified by Amendment
No. 2

1. Purpose
    This Amendment No. 2 to SR-CboeBZX-2021-056 amends and replaces in
its entirety the proposal as amended November 5, 2021 and as originally
submitted on August 12, 2021. The Exchange submits this Amendment No. 2
in order to clarify certain points and add additional details to the
proposal.
    The Exchange proposed and the Commission approved a rule to permit
the listing and trading of the Shares of each Fund.\7\ On December 22,
2020, the Exchange commenced trading in the Shares of each Fund. The
Exchange now proposes to continue listing and trading the Shares of
each Fund pursuant to Rule 14.11(m) and to permit the Funds to strike
and publish a single intra-day NAV in addition to the current practice
of striking and publishing an end-of-day NAV. This proposal is designed
to assist market makers in assessing and managing their intra-day risk,
provide greater flexibility in creating and redeeming shares and
provide market participants with additional information about the
Funds, all of which may assist market participants in hedging the
Funds' shares and generally making a market in the Funds' shares.
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    \7\ See Securities Exchange Act Release No. 90684 (December 16,
2020) 85 FR 83637 (December 22, 2020) (SR-CboeBZX-2020-091) (the
``Initial Filing'').

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    The NAV represents the value of a fund's assets minus its
liabilities divided by the number of shares outstanding and is used in
valuing exchange-traded products (``ETPs''), including Tracking Fund
Shares. By way of background, an ETP issues shares that can be bought
or sold throughout the day in the secondary market at a market-
determined price. Authorized participants (entities that have
contractual arrangements with the ETP and/or its distributor) purchase
and redeem ETP shares directly from the ETP in blocks called creation
units at a price equal to the next-calculated NAV, and may then
purchase or sell individual ETP shares in the secondary market at
market-determined prices. ETP shares trade at market prices, but the
market price typically will be more or less than the fund's NAV per
share due to a variety of factors, including the underlying prices of
the ETP's assets and the demand for the ETP shares. Nonetheless, an
ETP's market price is generally kept close to the ETP's end-of-day NAV
because of the arbitrage function inherent to the structure of the ETP.
An arbitrage opportunity is inherent in the ETP structure because the
ETP share's intra-day market price fluctuates in response to standard
supply/demand dynamics during the trading day. Due to this fluctuation,
the ETP's intra-day market price may not equal the actual value of
ETP's underlying holdings that would form the basis of the NAV
calculation. Accordingly, authorized participants can arbitrage this
difference (and make a profit) because they can trade directly with the
ETP at NAV \8\ as well as on the market at market-determined prices.
The expected result of the arbitrage activity is that the market value
of the ETP moves back in line with the ETP's NAV per share and
investors are able to buy ETP shares on an exchange that is close to
the ETP's NAV per share. The arbitrage mechanism is important because
it provides a means to maintain a close tie between market price and
NAV per share of the ETP throughout the day and on market close,
thereby helping to ensure that ETP investors are treated equitably when
buying and selling fund shares.
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    \8\ See generally Investment Company Act Release No. 33646.
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    In order for the arbitrage mechanism described above to operate
efficiently, market participants need to be able to hedge their intra-
day risk effectively and estimate, with high accuracy, the value of the
ETP's holdings, such that it can then observe instances when the value
of such holdings, on a per-share basis, is higher or lower than the
current trading price of the shares on an exchange. Principal aspects
of the ETP structure that facilitate these two processes are: (i)
Timing of the NAV strike and creation/redemption order window; and (ii)
the volume of information available regarding the underlying holdings
of the ETP, from which the authorized participant can estimate the
ETP's NAV per share at any given time. With respect to the former, if
an ETP can offer more than one opportunity to ``lock in'' the purchase
price of the ETP (i.e., shorten the duration of the market risk that
the authorized participant is bearing), the Exchange believes that the
arbitrage mechanism will operate more efficiently, resulting in tighter
spreads for the trading of the ETP shares.
    Additionally, with respect to information dissemination, in
general, the more information that is available to assist the market
participants in estimating the value of the fund's holdings, the better
the arbitrage mechanism will operate with respect to the Tracking Fund
Shares. In the case of Tracking Fund Shares, the applicable ETP
disseminates various information to achieve that goal, while not
publishing a full list of fund holdings daily. First, as noted in the
Initial Filing, each Fund will disclose its respective Fund Portfolio
\9\ including the name, identifier, market value and weight of each
security and instrument in the portfolio, at a minimum within at least
60 days following the end of every fiscal quarter.\10\ Additionally,
the Tracking Basket \11\ (also referred to as the ``substitute
basket'') for each Fund will be publicly disseminated at least once
daily.\12\ The Tracking Basket is designed to closely track the daily
performance of the Fund, but is not fully-representative of the Fund
Portfolio. The Tracking Basket often will include a significant
percentage of the securities held in the Fund Portfolio, but it will
exclude (or modify the weightings of) certain securities held in the
Fund Portfolio, such as those securities that the Fund's portfolio
managers are actively looking to purchase or sell, or securities which,
if disclosed, could increase the risk of front-running or free-riding.
The Tracking Basket may also include cash. Further, the issuer of the
Funds represented that the NAV per share for each of the Funds is
currently being calculated once daily along with certain metrics,
including the premium or discount between NAV and final trading price
of the Shares at the close of Regular Trading Hours \13\ and
information about how well the performance of the Tracking Basket has
correlated with the performance of the Fund Portfolio on a day-over-day
basis.\14\ While nothing in the Initial Filing, the Exemptive Relief,
or Rule 14.11(m) requires the Funds to disseminate an intraday
indicative value (``IIV''), both Funds disseminate IIVs as such
dissemination is not prohibited by the Initial Filing, Exemptive Relief
or Rule 14.11(m).\15\ The IIV refers to an intraday estimate of a
fund's NAV per share, and is calculated based on the valuation of the
Fund Portfolio that will form the basis for the next-calculated NAV
(including any trades from the prior day that are accounted for on a
T+1 basis), reflecting intra-day price movements for such holdings. For
example, if a security were bought by a Fund during a trading session
on a Monday, it would be not be part of the NAV calculation at the end
of that day (Monday), but instead would be accounted for in the NAV (or
NAVs if the Fund struck more than one) the next day (Tuesday, or T+1).
Similarly, that security would be valued intraday and reflected in the
IIV throughout the day in which it would form a part of the portfolio
upon which the NAV is calculated (e.g., Tuesday). As such, the
portfolio securities upon which the IIV and the NAV are based on any
given day are the same and, therefore, it is expected that the IIV
disseminated at the same time that a NAV struck intra-day during the
trading session (an ``Intra-Day NAV'') would be substantively the same
(e.g. the 12:00 p.m. Eastern Time IIV and an Intra-Day NAV struck at
12:00 p.m. Eastern Time

would be substantially the same).\16\ The IIV is disseminated by each
Fund every second during Regular Trading Hours,\17\ but, although the
IIV provides a great deal of price transparency to the market, it is
not an official NAV of the Funds derived using the processes and
governance designed to ensure an accurate and reliable calculation
before dissemination. Accordingly, an official Intra-Day NAV would, in
concert with the IIV, provide a reliable verification and further
clarity as to Fund portfolio pricing.\18\
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    \9\ The term ``Fund Portfolio'' means the identities and
quantities of the securities and other assets held by the Investment
Company that will form the basis for the Investment Company's
calculation of net asset value at the end of the business day. See
Exchange Rule 14.11(m)(3)(B).
    \10\ See Exchange Rule 14.11(m)(4)(B)(ii).
    \11\ The term ``Tracking Basket'' means the identities and
quantities of the securities and other assets included in a basket
that is designed to closely track the daily performance of the Fund
Portfolio, as provided in the exemptive relief under the Investment
Company Act of 1940 applicable to a series of Tracking Fund Shares
(the ``Exemptive Relief''). The website for each series of Tracking
Fund Shares shall disclose the following information regarding the
Tracking Basket as required under this Rule 14.11(m), to the extent
applicable: (i) Ticker symbol; (ii) CUSIP or other identifier; (iii)
Description of holding; (iv) Quantity of each security or other
asset held; (v) and Percentage weight of the holding in the
portfolio.
    \12\ See Exchange Rule 14.11(m)(4)(B)(i).
    \13\ See Exchange Rule 1.5(w).
    \14\ See Exchange Rule 14.11(m)(4)(A)(ii).
    \15\ As noted above, nothing in the Initial Filing, the
Exemptive Relief, or Rule 14.11(m) requires the Funds to disseminate
an IIV; therefore, the Fund is not representing that it will in the
future continue to disseminate an IIV for either or both of the
Funds.
    \16\ Although the portfolio of securities on which the Intra-Day
NAV and the IIV would be based would be identical, it is possible
that differences in pricing sources or data points used by the Funds
compared to the IIV provider may create minor variances between the
values. Such variances are expected to be immaterial and should not
create investor confusion.
    \17\ ``Regular Trading Hours'' refers to the time between 9:30
a.m. and 4:00 p.m. Eastern time. See Exchange Rule 1.5(w).
    \18\ Further, in the rare instances where there may be a delay
or error in calculating the IIV the dissemination of the official
Intra-Day NAV would alert the market to any disparity. As discussed
herein, the calculation of an official NAV takes more time to
disseminate than the IIV, reflecting the robust verification and
validation processes employed.
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    In furtherance of the Funds' objectives of tightening spreads in
the trading of their shares and increasing the efficiency of the
arbitrage mechanism, the Funds will strike one NAV during normal
trading (the Intra-Day NAV) and one NAV again at the close of trading
at 4:00 p.m. ET (the ``End-of-Day NAV'' and collectively with Intra-Day
NAV, the ``Published NAVs''). The Funds anticipate that the Intra-Day
NAV will be struck at 12:00 p.m. ET; however, the Funds represent that
the Intra-Day NAV may be struck at a pre-determined, and publicly
disclosed, time between 11:00 a.m. ET and 2 p.m. ET. The timing of the
calculation time of the Intra-Day NAV will be disclosed in each Fund's
prospectus and will not change without prior notification to
shareholders and the market in the form of a prospectus supplement. The
Intra-Day NAV would be calculated based on the values of the securities
in the Fund Portfolio (as well as any cash or other assets booked to
the Fund) at the time the Intra-Day NAV is struck, which may differ
from the values of the securities in the Fund Portfolio at the time the
End-of-Day NAV is struck. However, as noted in the discussion of IIV
above, the Fund Portfolio will not change between the Intra-Day NAV and
End-of-Day NAV, since all trades occurring during the trading day will
be reflected in the following day's Published NAVs (i.e., T+1).
    As noted in the Initial Filing, Shares of each of the Funds are
offered by the Trust, which is registered with the Commission as an
open-end investment company and has filed a registration statement on
behalf of the Funds on Form N-1A with the Commission.\19\ The
Registration Statement provides that the Funds may calculate the NAV
per Share more than once daily (e.g., at 12 p.m. ET and 4:00 p.m. ET),
however, the Initial Filing did not seek to allow the Funds to
calculate more than one NAV per day. Now, the Exchange is seeking
approval to explicitly allow the Funds to strike and publish an Intra-
Day NAV daily in addition to the End-of-Day NAV.\20\
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    \19\ The Trust is registered under the 1940 Act. On September
25, 2020, the Trust filed post-effective amendments to its
registration statement on Form N-1A relating to each Fund (File No.
811-22148) (the ``Registration Statement''). The descriptions of the
Funds and the Shares contained herein are based, in part, on
information included in the Registration Statement. The Commission
has issued an order granting certain exemptive relief to the Trust
(the ``Exemptive Relief'') under the 1940 Act. See Investment
Company Act of 1940 Release No. 34127 (December 2, 2020).
    \20\ The Exchange's proposal is similar to functionality offered
for other ETPs. For example, the prospectus for the Invesco Treasury
Collateral ETF provides that the Fund is calculated at 12 p.m. and 4
p.m. ET every day the New York Stock Exchange (``NYSE'') is open and
the Goldman Sachs Access Treasury 0-1 Year ETF has similar
practices. See http://hosted.rightprospectus.com/Invesco/Fund.aspx?cu=46138G888&dt=P&ss=ETF and https://www.gsam.com/bin/gsam/servlets/LiteratureViewerServlet?pdflink=%2Fcontent%2Fdam%2Fgsam%2Fpdfs%2Fus%2Fen%2Fprospectus-and-regulatory%2Fprospectus%2Fetf-combined-access-prospectus.pdf&RequestURI=/content/gsam/us/en/advisors/fund-center/etf-fund-finder&sa=n.
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    As noted above, the Intra-Day NAV for the Funds will be struck
based on the Fund Portfolio at a pre-determined time between 11:00 a.m.
and 2:00 p.m. Eastern Time on each day the Exchange is open. The Intra-
Day NAV will be calculated based on the valuation of Fund Portfolio as
of the NAV strike time, with the calculation of such NAV typically
occurring within two hours of the time the NAV strike time (e.g., if
the Intra-Day NAV is struck as of 12:00 p.m. Eastern Time,
dissemination of such Intra-Day NAV will typically occur prior to 2:00
p.m. Eastern Time), and will be disseminated to market participants
shortly after calculation. Such dissemination will clearly indicate
that such Intra-Day NAV is as of the specified time (e.g. NAV as of
12:00 p.m. Eastern Time) and not as of the time it is disseminated.
Further, the Intra-Day NAV will be disseminated to all market
participants at the same time through the Fund's website.\21\
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    \21\ Currently, the End-of-Day NAV is disseminated publicly via
the Issuer's website at www.invesco.com/ETFs. Additionally, the End-
of-Day NAV is captured by other data feeds, such as Bloomberg,
Reuters and others.
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    Currently, all orders to purchase or redeem creation units must be
received by the transfer agent and/or distributor no later than the
order cut-off time designated in the participant agreement \22\ on the
relevant Business Day in order for the creation or redemption of
creation units to be effected based on the NAV of Shares as determined
on such date. With certain exceptions, the order cut-off time for the
Funds, as set forth in the participant agreement, usually is one hour
prior to the closing time of the regular trading session--i.e.,
ordinarily 4:00 p.m. Eastern time. Additionally, on days when the
Exchange closes earlier than normal, the Trust may require the creation
orders to be placed earlier in the day.
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    \22\ The ``participant agreement'' refers to the executed
written agreement between an authorized participant and the Fund, or
one of its service providers, that allows the authorized participant
to place creation and redemption orders.
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    As proposed, with certain exceptions the order cut-off time for the
Intra-Day NAV will be one hour prior to the time at which the Intra-Day
NAV is struck (e.g., 11:00 a.m. Eastern time if the NAV is struck at
12:00 p.m. Eastern time). The Funds will issue and redeem Shares in
creation units at the NAV per Share next determined after an order in
proper form is received (which may be the Intra-Day NAV or the End-of-
Day NAV depending on when the order is received). Specifically, if an
order to purchase or redeem Shares of either of the Funds was received
by the transfer agent prior to the order cut-off time for the Intra-Day
NAV (generally one hour prior to the time at which the Intra-Day NAV is
struck), the Fund would issue or redeem Shares in creation units at the
Intra-Day NAV. Conversely, if an order to purchase or redeem Shares of
either of the Funds was received by the transfer agent after that cut-
off time but before the cut-off time for the End-of-Day NAV (generally
3:00 p.m. Eastern time), the Fund would issue or redeem Shares in
creation units at the End-of-Day NAV.
    The Exchange believes that providing authorized participants with
the ability to create and redeem during the trading day, coupled with
the price certainty of a second official Intra-Day NAV being available
to market participants, will reduce the risk that market participants
face intra-day related to the possible divergence between the Tracking
Basket and the value of the Fund Portfolio. By having an option
available to authorized participants by which they can ``lock in''
their creation and redemption transactions during the trading day at an
Intra-Day NAV, as well as at the end of

the trading day at the End-of-Day NAV,\23\ the intra-day market risk
experienced by authorized participants may be mitigated. Such
optionality could thereby help authorized participants and market
makers to reduce spreads on Shares.
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    \23\ The Exchange believes that the beneficial effect of having
the ability to ``lock in'' the Intra-Day NAV will exist even if
authorized participants do not regularly make use of the first
creation/redemption window. By having the flexibility to place
orders with less remaining time until the End-of-Day NAV is struck,
authorized participants will be able to hedge risk with a shorter
time horizon contemplated. Further, even in the unlikely event that
the Intra-Day NAV is not disseminated until after markets close
(which would only happen if the Intra-Day NAV were set at 2:00 p.m.
ET and the Fund experienced delays in calculation), such risk
management benefits would nonetheless be present with having the
first creation/redemption window.
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    As proposed, the Funds will continue to meet all listings standards
provided in Rule 14.11(m). The only change to the Funds that the
Exchange is proposing is to allow the Funds to strike an Intra-Day NAV.
All other material representations contained within the Initial Filing
remain true and will continue to constitute continued listing
requirements for the Funds.
2. Statutory Basis
    The Exchange believes that the proposal is consistent with Section
6(b) of the Act \24\ in general and Section 6(b)(5) of the Act \25\ in
particular in that it is designed to prevent fraudulent and
manipulative acts and practices, to promote just and equitable
principles of trade, to foster cooperation and coordination with
persons engaged in facilitating transactions in securities, to remove
impediments to and perfect the mechanism of a free and open market and
a national market system and, in general, to protect investors and the
public interest in that the Shares of each Fund will meet each of the
continued listing criteria in BZX Rule 14.11(m), as provided in the
Initial Filing.
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    \24\ 15 U.S.C. 78f(b).
    \25\ 15 U.S.C. 78f(b)(5).
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    The proposal to allow the Funds to strike and publish an Intra-Day
NAV will afford authorized participants with additional flexibility in
the timing of creation and redemption activity and provide the
marketplace with additional information, produced through rigorous
controls and verification, related to each Fund's underlying holdings
on an intra-day basis. The Exchange believes that this additional
feature will allow market participants to better assess and manage
their intra-day risk in making a market in the Funds' shares, and
provide additional certainty around intra-day price and hedging for the
Funds' shares. Further, the Exchange believes that the likely resulting
tighter spreads and deeper liquidity will deter potential fraudulent or
manipulative acts associated with the Funds' Share price. The only
change to the Funds that the Exchange is proposing is to allow the
Funds to strike an Intra-Day NAV. The website for the Funds will
include additional quantitative information, including, on a per Share
basis for each Fund, the prior business day's Intra-Day NAV and End-of-
Day NAV. All other material representations contained within the
Initial Filing remain true and will continue to constitute continued
listing requirements for the Funds.
    For the above reasons, the Exchange believes that the proposed rule
change is consistent with the requirements of Section 6(b)(5) of the
Act.

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

    The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purpose of the Act. The Exchange notes that the
proposed rule change, rather, will provide additional information to
market participants thereby reducing market participants risk and
intra-day price uncertainty which will allow the Fund to better compete
in the marketplace, thus enhancing competition among both market
participants and listing venues, to the benefit of investors and the
marketplace.

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

    The Exchange neither solicited nor received comments on the
proposed rule change.

III. Discussion and Commission Findings

    After careful review, the Commission finds that the proposed rule
change, as modified by Amendment No. 2, is consistent with the Act and
the rules and regulations thereunder applicable to a national
securities exchange.\26\ In particular, the Commission finds that the
proposed rule change, as modified by Amendment No. 2, is consistent
with Section 6(b)(5) of the Act,\27\ which requires, among other
things, that the Exchange's rules be designed to prevent fraudulent and
manipulative acts and practices, to promote just and equitable
principles of trade, to remove impediments to and perfect the mechanism
of a free and open market and a national market system, and, in
general, to protect investors and the public interest.
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    \26\ In approving this proposed rule change, the Commission
notes that it has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
    \27\ 15 U.S.C. 78f(b)(5).
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    In addition to the End-of-Day NAV that currently is calculated and
disseminated, the proposal permits the calculation and dissemination of
an Intra-Day NAV for certain Tracking Fund Shares.\28\ The Commission
believes that the Exchange's proposal to permit Intra-Day NAV for the
Shares is reasonably designed to assist market participants assess and
manage their intra-day risk by providing greater flexibility in
creation and redemption of the Shares while providing additional
information about the Shares and not unduly creating investor
confusion. Specifically, the Exchange represents that each Intra-Day
NAV will be struck at a pre-determined time between 11:00 a.m. ET and
2:00 p.m. ET and that the timing of the calculation of the Intra-Day
NAV will be disclosed in each Fund's prospectus and will not change
without prior notification to shareholders and the market. Further,
according to the Exchange, the portfolio securities upon which the IIV
and the NAV are based on any given day are the same, and, therefore, it
is expected that the IIV disseminated at the same time that an Intra-
Day NAV is struck. Further, dissemination of Intra-Day NAV will clearly
indicate that the value is as of the specified time when the Intra-Day
NAV is struck, which will not be the time it is disseminated. Finally,
the Intra-Day NAV will be disseminated to all market participants at
the same time through the Fund's website.
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    \28\ The portfolio holdings for Tracking Fund Shares are
disclosed within at least 60 days following the end of every fiscal
quarter. See supra text accompanying note 10.
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    For the foregoing reasons, the Commission finds that the proposal
is consistent with Section 11A(a)(1)(C)(iii) of the Act, which sets
forth Congress's finding that it is in the public interest and
appropriate for the protection of investors and the maintenance of fair
and orderly markets to assure the availability to brokers, dealers, and
investors of information with respect to quotations for, and
transactions in, securities.

IV. Solicitation of Comments on Amendment No. 2 to the Proposed Rule
Change

    Interested persons are invited to submit written data, views, and
arguments concerning whether Amendment No. 2 is consistent with the

Exchange 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-CboeBZX-2021-056 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-CboeBZX-2021-056. 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-CboeBZX-2021-056, and should be
submitted on or before December 17, 2021.

V. Accelerated Approval of Proposed Rule Change, as Modified by
Amendment No. 2

    The Commission finds good cause to approve the proposed rule
change, as modified by Amendment No. 2, prior to the thirtieth day
after the date of publication of notice of the filing of Amendment No.
2 in the Federal Register. In Amendment No. 2, the Exchange provided
additional information regarding: (a) The calculation and dissemination
of the Funds' IIVs and Intra-Day NAVs; and (b) the creation and
redemption order cut-off times applicable to the Shares; and (c) the
posting of the prior business day's Intra-Day (in addition to the End-
of-Day) NAVs for the Shares on the Funds' website.\29\ The changes and
additional information in Amendment No. 2 assist the Commission in
finding that the proposal is consistent with the Exchange Act.
Accordingly, the Commission finds good cause, pursuant to Section
19(b)(2) of the Exchange Act,\30\ to approve the proposed rule change,
as modified by Amendment No. 2, on an accelerated basis.
---------------------------------------------------------------------------

    \29\ Amendment No. 2 also made certain clarifying changes. For
example, the Exchange: (1) Confirms that the IIVs and the Intra-Day
NAV for each Fund would be based on the same portfolio and therefore
likely would be substantially the same; (2) clarifies its analysis
of the market impact of its proposal; and (3) corrects a citation.
    \30\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

VI. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the Act
\31\ that the proposed rule change (SR-CboeBZX-2021-056), as modified
by Amendment No. 2, be, and it hereby is, approved on an accelerated
basis.
---------------------------------------------------------------------------

    \31\ Id.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\32\
---------------------------------------------------------------------------

    \32\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-25751 Filed 11-24-21; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 81, Number 13 (Thursday, January 21, 2016)]
[Notices]
[Pages 3557-3558]
[FR Doc No: 2016-01204]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

[Summary Notice No. PE-2016-06]

Petition for Exemption; Summary of Petition Received; Auburn
University

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice.

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

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

DATES: Comments on this petition must identify the petition docket
number and must be received on or before February 10, 2016.

ADDRESSES: Send comments identified by docket number FAA-2014-1014
using any of the following methods:
     Federal eRulemaking Portal: Go to http://www.regulations.gov and follow the online instructions for sending your
comments electronically.
     Mail: Send comments to Docket Operations, M-30; U.S.
Department of Transportation (DOT), 1200 New Jersey Avenue SE., Room
W12-140, West Building Ground Floor, Washington, DC 20590-0001.
     Hand Delivery or Courier: Take comments to Docket
Operations in Room W12-140 of the West Building Ground Floor at 1200
New Jersey Avenue SE., Washington, DC, between 9 a.m. and 5 p.m.,
Monday through Friday, except Federal holidays.
     Fax: Fax comments to Docket Operations at<PHONE_NUMBER>.
    Privacy: In accordance with 5 U.S.C. 553(c), DOT solicits comments
from the public to better inform its rulemaking process. DOT posts
these comments,

without edit, including any personal information the commenter
provides, to http://www.regulations.gov, as described in the system of
records notice (DOT/ALL-14 FDMS), which can be reviewed at http://www.dot.gov/privacy.
    Docket: Background documents or comments received may be read at
http://www.regulations.gov at any time. Follow the online instructions
for accessing the docket or go to the Docket Operations in Room W12-140
of the West Building Ground Floor at 1200 New Jersey Avenue SE.,
Washington, DC, between 9 a.m. and 5 p.m., Monday through Friday,
except Federal holidays.

FOR FURTHER INFORMATION CONTACT: Dan Ngo,<PHONE_NUMBER>, 800
Independence Avenue SW., Washington, DC 20591.
    This notice is published pursuant to 14 CFR 11.85.

    Issued in Washington, DC, on January 15, 2016.
James M. Crotty,
Acting Director, Office of Rulemaking.

Petition for Exemption

    Docket No.: FAA-2014-1014.
    Petitioner: Auburn University.
    Section(s) of 14 CFR Affected: 21 subpart H, part 27, 45.23(b),
45.27(a), 61.113, 61.3, 91.103, 91.109, 91.119, 91.121, 91.151(a),
91.203, 91.405(a), 91.407(a)(1), 91.409(a)(1), 91.417(a)&(b), 91.7(a),
and 91.9(b)(2) & (c).
    Description of Relief Sought: The petitioner requests to conduct
UAS commercial operations to conduct unmanned aircraft systems training
as part of their Flight Instruction Program.

[FR Doc. 2016-01204 Filed 1-20-16; 8:45 am]
 BILLING CODE 4910-13-P


[Federal Register Volume 77, Number 49 (Tuesday, March 13, 2012)]
[Proposed Rules]
[Pages 14700-14703]
[FR Doc No: 2012-5970]

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

DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 165

[Docket No. USCG-2012-0137]
RIN 1625-AA00

Safety Zones; Swim Around Charleston, Charleston, SC

AGENCY: Coast Guard, DHS.

ACTION: Notice of proposed rulemaking.

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

SUMMARY: The Coast Guard proposes to establish temporary moving safety
zones during the Swim Around Charleston, a swimming race occurring on
the Wando River, the Cooper River, Charleston Harbor, and the Ashley
River, in Charleston, South Carolina. The Swim Around Charleston is
scheduled to take place on Sunday, September 23, 2012. The temporary
safety zones are necessary for the safety of the swimmers, participant
vessels, spectators, and the general public during the event. Persons
and vessels would be prohibited from entering, transiting through,
anchoring in, or remaining within the safety zones unless authorized by
the Captain of the Port Charleston or a designated representative.

DATES: Comments and related material must be received by the Coast
Guard on or before July 11, 2012. Requests for

public meetings must be received by the Coast Guard on or before June
5, 2012.

ADDRESSES: You may submit comments identified by docket number USCG-
2012-0137 using any one of the following methods:
    (1) Federal eRulemaking Portal: http://www.regulations.gov.
    (2) Fax:<PHONE_NUMBER>.
    (3) Mail: Docket Management Facility (M-30), U.S. Department of
Transportation, West Building Ground Floor, Room W12-140, 1200 New
Jersey Avenue SE., Washington, DC 20590-0001.
    (4) Hand delivery: Same as mail address above, between 9 a.m. and 5
p.m., Monday through Friday, except Federal holidays. The telephone
number is<PHONE_NUMBER>.
    To avoid duplication, please use only one of these four methods.
See the ``Public Participation and Request for Comments'' portion of
the SUPPLEMENTARY INFORMATION section below for instructions on
submitting comments.

FOR FURTHER INFORMATION CONTACT: If you have questions on this proposed
rule, call or email Ensign John Santorum, Sector Charleston Office of
Waterways Management, Coast Guard; telephone<PHONE_NUMBER>, email
<EMAIL_ADDRESS>If you have questions on viewing or
submitting material to the docket, call Renee V. Wright, Program
Manager, Docket Operations, telephone<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Public Participation and Request for Comments

    We encourage you to participate in this rulemaking by submitting
comments and related materials. All comments received will be posted
without change to http://www.regulations.gov and will include any
personal information you have provided.

Submitting Comments

    If you submit a comment, please include the docket number for this
rulemaking (USCG-2012-0137), indicate the specific section of this
document to which each comment applies, and provide a reason for each
suggestion or recommendation. You may submit your comments and material
online (via http://www.regulations.gov) or by fax, mail, or hand
delivery, but please use only one of these means. If you submit a
comment online via www.regulations.gov, it will be considered received
by the Coast Guard when you successfully transmit the comment. If you
fax, hand deliver, or mail your comment, it will be considered as
having been received by the Coast Guard when it is received at the
Docket Management Facility. We recommend that you include your name and
a mailing address, an email address, or a telephone number in the body
of your document so that we can contact you if we have questions
regarding your submission.
    To submit your comment online, go to http://www.regulations.gov,
click on the ``submit a comment'' box, which will then become
highlighted in blue. In the ``Document Type'' drop down menu select
``Proposed Rule'' and insert ``USCG-2012-0137'' in the ``Keyword'' box.
Click ``Search'' then click on the balloon shape in the ``Actions''
column. If you submit your comments by mail or hand delivery, submit
them in an unbound format, no larger than 8\12\ by 11 inches, suitable
for copying and electronic filing. If you submit comments by mail and
would like to know that they reached the Facility, please enclose a
stamped, self-addressed postcard or envelope. We will consider all
comments and material received during the comment period and may change
the rule based on your comments.

Viewing Comments and Documents

    To view comments, as well as documents mentioned in this preamble
as being available in the docket, go to http://www.regulations.gov,
click on the ``read comments'' box, which will then become highlighted
in blue. In the ``Keyword'' box insert ``USCG-2012-0137'' and click
``Search.'' Click the ``Open Docket Folder'' in the ``Actions'' column.
You may also visit the Docket Management Facility in Room W12-140 on
the ground floor of the Department of Transportation West Building,
1200 New Jersey Avenue SE., Washington, DC 20590, between 9 a.m. and 5
p.m., Monday through Friday, except Federal holidays. We have an
agreement with the Department of Transportation to use the Docket
Management Facility.

Privacy Act

    Anyone can search the electronic form of comments received into any
of our dockets by the name of the individual submitting the comment (or
signing the comment, if submitted on behalf of an association,
business, labor union, etc.). You may review a Privacy Act notice
regarding our public dockets in the January 17, 2008, issue of the
Federal Register (73 FR 3316).

Public Meeting

    We do not now plan to hold a public meeting. But you may submit a
request for one on or before June 5, 2012 using one of the four methods
specified under ADDRESSES. Please explain why you believe a public
meeting would be beneficial. If we determine that one would aid this
rulemaking, we will hold one at a time and place announced by a later
notice in the Federal Register.

Basis and Purpose

    The legal basis for the proposed rule is the Coast Guard's
authority to establish regulated navigation areas and other limited
access areas: 33 U.S.C. 1231; 46 U.S.C. Chapter 701, 3306, 3703; 50
U.S.C. 191, 195; 33 CFR 1.05-1, 6.04-1, 6.04-6, 160.5; Public Law 107-
295, 116 Stat. 2064; Department of Homeland Security Delegation No.
0170.1.
    The purpose of the proposed rule is to ensure the safety of the
swimmers, participant vessels, spectators, and the general public
during the Swim Around Charleston.

Discussion of Proposed Rule

    On Sunday, September 23, 2012, the Swim Around Charleston is
scheduled to take place on the Wando River, the Cooper River,
Charleston Harbor, and the Ashley River, in Charleston, South Carolina.
The Swim Around Charleston will consist of a 10 mile swim that starts
at Remley's Point on the Wando River, crosses the main shipping channel
of Charleston Harbor, and finishes at the General William B.
Westmoreland Bridge on the Ashley River.
    The proposed rule would establish temporary moving safety zones of
a 75 yard radius around Swim Around Charleston participant vessels that
are officially associated with the swim on the Wando River, the Cooper
River, Charleston Harbor, and the Ashley River, in Charleston, South
Carolina. The temporary safety zones would be enforced from 7 a.m.
until 2 p.m. on September 23, 2012. Persons and vessels would be
prohibited from entering, transiting through, anchoring in, or
remaining within the safety zones unless authorized by the Captain of
the Port Charleston or a designated representative. Persons and vessels
would be able to request authorization to enter, transit through,
anchor in, or remain within the safety zones by contacting the Captain
of the Port Charleston by telephone at<PHONE_NUMBER>, or a designated
representative via VHF radio on channel 16.

Regulatory Analyses

    We developed this proposed rule after considering numerous statutes
and executive orders related to rulemaking. Below we summarize our
analyses based on 13 of these statutes or executive orders.

Regulatory Planning and Review

    Executive Orders 13563, Improving Regulation and Regulatory Review,
and 12866, Regulatory Planning and Review, direct agencies to assess
the costs and benefits of available regulatory alternatives and, if
regulation is necessary, to select regulatory approaches that maximize
net benefits (including potential economic, environmental, public
health and safety effects, distributive impacts, and equity). Executive
Order 13563 emphasizes the importance of quantifying both costs and
benefits, of reducing costs, of harmonizing rules, and of promoting
flexibility. This proposed rule has not been designated a significant
regulatory action under section 3(f) of Executive Order 12866.
Accordingly, the Office of Management and Budget has not reviewed this
proposed rule under Executive Order 12866.
    The economic impact of this proposed rule is not significant for
the following reasons: (1) The safety zones would only be enforced for
a total of seven hours; (2) the safety zones would move with the
participant vessels so that once the swimmers clear a portion of the
waterway, the safety zones would no longer be enforced in that portion
of the waterway; (3) although persons and vessels would not be able to
enter, transit through, anchor in, or remain within the safety zones
without authorization from the Captain of the Port Charleston or a
designated representative, they would be able to operate in the
surrounding area during the enforcement period; (4) persons and vessels
would still be able to enter, transit through, anchor in, or remain
within the safety zones if authorized by the Captain of the Port
Charleston or a designated representative; and (5) the Coast Guard
would provide advance notification of the safety zones to the local
maritime community by Local Notice to Mariners and Broadcast Notice to
Mariners.

Small Entities

    Under the Regulatory Flexibility Act (5 U.S.C. 601-612), we have
considered whether this proposed rule would have a significant economic
impact on a substantial number of small entities. The term ``small
entities'' comprises small businesses, not-for-profit organizations
that are independently owned and operated and are not dominant in their
fields, and governmental jurisdictions with populations of less than
50,000.
    The Coast Guard certifies under 5 U.S.C. 605(b) that this proposed
rule would not have a significant economic impact on a substantial
number of small entities. This proposed rule may affect the following
entities, some of which may be small entities: The owners or operators
of vessels intending to enter, transit through, anchor in, or remain
within that portion of the Wando River, the Cooper River, Charleston
Harbor, and the Ashley River in Charleston, South Carolina encompassed
within the safety zones from 7 a.m. until 2 p.m. on September 23, 2012.
For the reasons discussed in the Regulatory Planning and Review section
above, this proposed rule would not have a significant economic impact
on a substantial number of small entities.
    If you think that your business, organization, or governmental
jurisdiction qualifies as a small entity and that this proposed rule
would have a significant economic impact on it, please submit a comment
(see ADDRESSES) explaining why you think it qualifies and how and to
what degree this proposed rule would economically affect it.

Assistance for Small Entities

    Under section 213(a) of the Small Business Regulatory Enforcement
Fairness Act of 1996 (Pub. L. 104-121), we want to assist small
entities in understanding this proposed rule so that they can better
evaluate its effects on them and participate in the rulemaking. If the
proposed rule would affect your small business, organization, or
governmental jurisdiction and you have questions concerning its
provisions or options for compliance, please contact Ensign John
Santorum, Sector Charleston Office of Waterways Management, Coast
Guard; telephone<PHONE_NUMBER>, email<EMAIL_ADDRESS>The
Coast Guard will not retaliate against small entities that question or
complain about this proposed rule or any policy or action of the Coast
Guard.

Collection of Information

    This proposed rule would call for no new collection of information
under the Paperwork Reduction Act of 1995 (44 U.S.C. 3501-3520).

Federalism

    A rule has implications for federalism under Executive Order 13132,
Federalism, if it has a substantial direct effect on State or local
governments and would either preempt State law or impose a substantial
direct cost of compliance on them. We have analyzed this proposed rule
under that Order and have determined that it does not have implications
for federalism.

Unfunded Mandates Reform Act

    The Unfunded Mandates Reform Act of 1995 (2 U.S.C. 1531-1538)
requires Federal agencies to assess the effects of their discretionary
regulatory actions. In particular, the Act addresses actions that may
result in the expenditure by a State, local, or Tribal government, in
the aggregate, or by the private sector of $100,000,000 or more in any
one year. Though this proposed rule would not result in such an
expenditure, we do discuss the effects of this proposed rule elsewhere
in this preamble.

Taking of Private Property

    This proposed rule would not effect a taking of private property or
otherwise have taking implications under Executive Order 12630,
Governmental Actions and Interference with Constitutionally Protected
Property Rights.

Civil Justice Reform

    This proposed rule meets applicable standards in sections 3(a) and
3(b)(2) of Executive Order 12988, Civil Justice Reform, to minimize
litigation, eliminate ambiguity, and reduce burden.

Protection of Children

    We have analyzed this proposed rule under Executive Order 13045,
Protection of Children from Environmental Health Risks and Safety
Risks. This proposed rule is not an economically significant rule and
would not create an environmental risk to health or risk to safety that
might disproportionately affect children.

Indian Tribal Governments

    This proposed rule does not have Tribal implications under
Executive Order 13175, Consultation and Coordination with Indian Tribal
Governments, because it would not have a substantial direct effect on
one or more Indian Tribes, on the relationship between the Federal
Government and Indian Tribes, or on the distribution of power and
responsibilities between the Federal Government and Indian Tribes.

Energy Effects

    We have analyzed this proposed rule under Executive Order 13211,
Actions Concerning Regulations That

Significantly Affect Energy Supply, Distribution, or Use. We have
determined that it is not a ``significant energy action'' under that
order because it is not a ``significant regulatory action'' under
Executive Order 12866 and is not likely to have a significant adverse
effect on the supply, distribution, or use of energy. The Administrator
of the Office of Information and Regulatory Affairs has not designated
it as a significant energy action. Therefore, it does not require a
Statement of Energy Effects under Executive Order 13211.

Technical Standards

    The National Technology Transfer and Advancement Act (NTTAA) (15
U.S.C. 272 note) directs agencies to use voluntary consensus standards
in their regulatory activities unless the agency provides Congress,
through the Office of Management and Budget, with an explanation of why
using these standards would be inconsistent with applicable law or
otherwise impractical. Voluntary consensus standards are technical
standards (e.g., specifications of materials, performance, design, or
operation; test methods; sampling procedures; and related management
systems practices) that are developed or adopted by voluntary consensus
standards bodies.
    This proposed rule does not use technical standards. Therefore, we
did not consider the use of voluntary consensus standards.

Environment

    We have analyzed this proposed rule under Department of Homeland
Security Management Directive 023-01 and Commandant Instruction
M16475.lD, which guide the Coast Guard in complying with the National
Environmental Policy Act of 1969 (NEPA) (42 U.S.C. 4321-4370f), and
have made a preliminary determination that this action is one of a
category of actions that do not individually or cumulatively have a
significant effect on the human environment. A preliminary
environmental analysis checklist supporting this determination is
available in the docket where indicated under ADDRESSES. This proposed
rule involves establishing temporary moving safety zones as described
in figure 2-1, paragraph (34)(g), of the Instruction. We seek any
comments or information that may lead to the discovery of a significant
environmental impact from this proposed rule.

List of Subjects in 33 CFR Part 165

    Harbors, Marine safety, Navigation (water), Reporting and
recordkeeping requirements, Security measures, Waterways.

    For the reasons discussed in the preamble, the Coast Guard proposes
to amend 33 CFR part 165 as follows:

PART 165--REGULATED NAVIGATION AREAS AND LIMITED ACCESS AREAS

    1. The authority citation for part 165 continues to read as
follows:

    Authority:  33 U.S.C. 1231; 46 U.S.C. Chapter 701, 3306, 3703;
50 U.S.C. 191, 195; 33 CFR 1.05-1, 6.04-1, 6.04-6, 160.5; Pub. L.
107-295, 116 Stat. 2064; Department of Homeland Security Delegation
No. 0170.1.

    2. Add a temporary Sec.  165.T07-0137 to read as follows:

Sec.  165.T07-0137  Safety Zones; Swim Around Charleston, Charleston,
SC.

    (a) Regulated Areas. The following regulated areas are moving
safety zones: All waters within a 75 yard radius of Swim Around
Charleston participant vessels. The Swim Around Charleston swimming
race consists of a 10 mile course that starts at Remley's Point on the
Wando River in approximate position 32[deg]48'49'' N, 79[deg]54'27'' W,
crosses the main shipping channel of Charleston Harbor, and finishes at
the General William B. Westmoreland Bridge on the Ashley River in
approximate position 32[deg]50'14'' N, 80[deg]01'23'' W. All
coordinates are North American Datum 1983.
    (b) Definition. The term ``designated representative'' means Coast
Guard Patrol Commanders, including Coast Guard coxswains, petty
officers, and other officers operating Coast Guard vessels, and
Federal, state, and local officers designated by or assisting the
Captain of the Port Charleston in the enforcement of the regulated
areas.
    (c) Regulations. (1) All persons and vessels are prohibited from
entering, transiting through, anchoring in, or remaining within the
regulated areas unless authorized by the Captain of the Port Charleston
or a designated representative.
    (2) Persons and vessels desiring to enter, transit through, anchor
in, or remain within the regulated areas may contact the Captain of the
Port Charleston by telephone at<PHONE_NUMBER>, or a designated
representative via VHF radio on channel 16, to request authorization.
If authorization to enter, transit through, anchor in, or remain within
the regulated areas is granted by the Captain of the Port Charleston or
a designated representative, all persons and vessels receiving such
authorization must comply with the instructions of the Captain of the
Port Charleston or a designated representative.
    (3) The Coast Guard will provide notice of the regulated areas by
Local Notice to Mariners, Broadcast Notice to Mariners, and on-scene
designated representatives.
    (d) Effective Date. This rule is effective from 7 a.m. until 2 p.m.
on September 23, 2012.

    Dated: February 2, 2012.
M.F. White,
Captain, U.S. Coast Guard, Captain of the Port Charleston.
[FR Doc. 2012-5970 Filed 3-12-12; 8:45 am]
BILLING CODE 9110-04-P


[Federal Register Volume 84, Number 87 (Monday, May 6, 2019)]
[Notices]
[Page 19799]
[FR Doc No: 2019-09176]

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

DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

[Internal Agency Docket No. FEMA-4421-DR; Docket ID FEMA-2019-0001]

Iowa; Amendment No. 2 to Notice of a Major Disaster Declaration

AGENCY: Federal Emergency Management Agency, DHS.

ACTION: Notice.

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

SUMMARY: This notice amends the notice of a major disaster declaration
for the State of Iowa (FEMA-4421-DR), dated March 23, 2019, and related
determinations.

DATES: This amendment was issued April 11, 2019.

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 notice of a major disaster declaration
for the State of Iowa is hereby amended to include the following areas
among those areas determined to have been adversely affected by the
event declared a major disaster by the President in his declaration of
March 23, 2019.

    Adair, Boone, Butler, Cass, Emmet, Guthrie, Kossuth, O'Brien,
Osceola, Plymouth, Tama, and Union Counties for Public Assistance
[Categories C-G] (already designated for debris removal and
emergency protective measures [Categories A and B], including direct
federal assistance, under the Public assistance program).
    Woodbury County for Public Assistance [Categories C-G] (already
designated for Individual Assistance and assistance for debris
removal and emergency protective measures [Categories A and B],
including direct federal assistance, under the Public Assistance
program).

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.

Pete Gaynor,
Acting Administrator, Federal Emergency Management Agency.
[FR Doc. 2019-09176 Filed 5-3-19; 8:45 am]
 BILLING CODE 9111-23-P


[Federal Register Volume 79, Number 151 (Wednesday, August 6, 2014)]
[Notices]
[Pages 45812-45813]
[FR Doc No: 2014-18564]

=======================================================================
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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2014-D-0968]

Draft Guidance for Industry on Upper Facial Lines: Developing
Botulinum Toxin Drug Products; Availability

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice.

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

SUMMARY: The Food and Drug Administration (FDA) is announcing the
availability of a draft guidance for industry entitled ``Upper Facial
Lines: Developing Botulinum Toxin Drug Products.'' The purpose of this
draft guidance is to assist sponsors with their clinical trial designs
using botulinum toxin drug products intended for the treatment of upper
facial lines. This draft guidance clarifies FDA's thinking on endpoint
development and clinical trial design considerations for botulinum
toxin drug products that present unique safety concerns.

DATES: Although you can comment on any guidance at any time (see 21 CFR
10.115(g)(5)), to ensure that the Agency considers your comment on this
draft guidance before it begins work on the final version of the
guidance, submit either electronic or written comments on the draft
guidance by November 4, 2014.

ADDRESSES: Submit written requests for single copies of the draft
guidance to the Division of Drug Information, Center for Drug
Evaluation and Research, Food and Drug Administration, 10903 New
Hampshire Ave., Bldg. 51, Rm. 2201, Silver Spring, MD 20993-0002. Send
one self-addressed adhesive label to assist that office in processing
your requests. See the SUPPLEMENTARY INFORMATION section for electronic
access to the draft guidance document.
    Submit electronic comments on the draft guidance to http://www.regulations.gov. Submit written comments to the Division of Dockets
Management (HFA-305), Food and Drug Administration, 5630 Fishers Lane,
Rm. 1061, Rockville, MD 20852.

FOR FURTHER INFORMATION CONTACT: Cristina Attinello, Center for Drug
Evaluation and Research, Food and Drug Administration, 10903 New
Hampshire Ave., Bldg. 22, Rm. 5181, Silver Spring, MD 20993-0002, 301-
796-3986.

SUPPLEMENTARY INFORMATION:

I. Background

    FDA is announcing the availability of a draft guidance for industry
entitled ``Upper Facial Lines: Developing Botulinum Toxin Drug
Products.'' The purpose of this draft guidance is to assist sponsors
with their clinical trial designs using botulinum toxin drug products
intended for the treatment of upper facial lines. This draft guidance
clarifies FDA's thinking on endpoint development and clinical trial
design considerations for botulinum toxin drug products that present
unique safety concerns related to the potential for local and distant
spread of toxin effect.
    This draft guidance is being issued consistent with FDA's good
guidance practices regulation (21 CFR 10.115). The draft guidance, when
finalized, will represent the Agency's current thinking on developing
botulinum toxin drug products for upper facial lines. It does not
create or confer any rights for or on any person and does not operate
to bind FDA or the public. An alternative approach may be used if such
approach satisfies the requirements of the applicable statutes and
regulations.

II. The Paperwork Reduction Act of 1995

    This guidance refers to previously approved collections of
information that are subject to review by the Office of Management and
Budget (OMB) under the Paperwork Reduction Act of 1995

(44 U.S.C. 3501-3520). The collections of information in 21 CFR parts
312 and 314 have been approved under OMB control numbers 0910-0014 and
0910-0001, respectively.

III. Comments

    Interested persons may submit either electronic comments regarding
this document to http://www.regulations.gov or written comments to the
Division of Dockets Management (see ADDRESSES). It is only necessary to
send one set of comments. Identify comments with the docket number
found in brackets in the heading of this document. Received comments
may be seen in the Division of Dockets Management between 9 a.m. and 4
p.m., Monday through Friday, and will be posted to the docket at http://www.regulations.gov.

IV. Electronic Access

    Persons with access to the Internet may obtain the document at
either http://www.fda.gov/Drugs/GuidanceComplianceRegulatoryInformation/Guidances/default.htm or http://www.regulations.gov.

    Dated: July 31, 2014.
Leslie Kux,
Assistant Commissioner for Policy.
[FR Doc. 2014-18564 Filed 8-5-14; 8:45 am]
BILLING CODE 4164-01-P


[Federal Register Volume 77, Number 40 (Wednesday, February 29, 2012)]
[Notices]
[Page 12281]
[FR Doc No: 2012-4789]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 14185-000; Project No. 14196-000]

Lock+ Hydro Friends Fund IV; FFP Project 55, LLC; Notice
Announcing Preliminary Permit Drawing

    The Commission has received two preliminary permit applications
deemed filed on May 3, 2011, at 8:30 a.m.,\1\ for proposed projects to
be located on the Kentucky River, in Henry County and Owen County,
Kentucky. The applications were filed by Lock+ Hydro Friends Fund IV
for Project No. 14185-000 and FFP Project 55, LLC for Project No.
14196-000.
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    \1\ Under the Commission's Rules of Practice and Procedure, any
document received after regular business hours is considered filed
at 8:30 a.m. on the next regular business day. 18 CFR 385.2001(a)(2)
(2011).
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    On February 28, 2012, at 9 a.m. (Eastern Time), the Secretary of
the Commission, or her designee, will conduct a random drawing to
determine the filing priority of the applicants identified in this
notice.\2\ The Commission will select among competing permit
applications as provided in section 4.37 of its regulations.\3\ The
priority established by this drawing will be used to determine which
applicant, among those with identical filing times, will be considered
to have the first-filed application.
---------------------------------------------------------------------------

    \2\ On February 22, 2012, the Commission held a drawing to
determine priority between these two competing applications.
However, an error occurred in the course of administering the
drawing. Therefore, a new drawing is required.
    \3\ 18 CFR 4.37 (2011).
---------------------------------------------------------------------------

    The drawing is open to the public and will be held in room 2C, the
Commission Meeting Room, located at 888 First St. NE., Washington, DC
20426. A subsequent notice will be issued by the Secretary announcing
the results of the drawing.

    Dated: February 22, 2012.
Nathaniel J. Davis, Sr.,
 Deputy Secretary.
[FR Doc. 2012-4789 Filed 2-28-12; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register: September 7, 2010 (Volume 75, Number 172)]
[Notices]
[Page 54408-54410]
[DOCID:fr07se10-78]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-62793; File No. SR-CBOE-2010-076]

Self-Regulatory Organizations; Chicago Board Options Exchange,
Incorporated; Notice of Filing and Immediate Effectiveness of Proposed
Rule Change To Amend Its Fees Schedule

August 30, 2010.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on August 17, 2010, Chicago Board Options Exchange, Incorporated
(``CBOE'' or ``Exchange'') filed with the Securities and Exchange
Commission (``Commission'') the proposed rule change as described in
Items I and II below, which Items have been prepared by the Exchange.
The Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to amend its Fees Schedule relating to
routing charges. The text of the proposed rule change is available on
the Exchange's Web site (http://www.cboe.org/legal), at

the Exchange's Office of the Secretary, and at the Commission.

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

    In its filing with the Commission, the Exchange included statements
concerning the purpose of, and basis for, the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these 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 aspects of such
statements.

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

1. Purpose
    The Exchange is proposing to modify its fee schedule related to
routing large orders to other exchanges for execution in connection
with the Options Order Protection and Locked/Crossed Market Plan
referenced in CBOE Rule 6.80. Currently, when the Exchange receives a
marketable order for the account of a non-broker dealer when CBOE is
not at the national best bid or offer (``NBBO''), CBOE transmits a
message to market participants in accordance with Rule 6.14A to see in
an attempt to achieve an execution at the NBBO price or better for the
order (i.e., step-up) so that CBOE can avoid routing order flow to a
competing exchange. If step-up is not achieved, CBOE will route a
``linkage'' order to the NBBO market(s) up to the size of the displayed
interest at the NBBO or the size of the order (whichever is
smaller).\3\ If the linkage order is executed (which is typically the
case), CBOE absorbs all transaction costs associated with the execution
at the away market. CBOE also routes the order for free. When CBOE
receives a similar marketable order for the account of a broker dealer,
however, CBOE charges $0.50 per contract for the routing and away
execution costs, in addition to the customary CBOE execution charges.
This is because the service is geared more toward retail customer
orders.
---------------------------------------------------------------------------

    \3\ We note that, pursuant to Rule 6.14A(a)(i), if one or more
orders are resting at the Exchange's BBO and there is insufficient
Market-Maker interest at the BBO price to satisfy the entire
marketable order, the Exchange will immediately route away without
processing for step-up.
---------------------------------------------------------------------------

    CBOE is now seeking to refine the cost structure of the program as
it relates to large non-broker dealer customer orders. Specifically,
when CBOE receives a qualifying customer order that has an original
size of 1,000 or more contracts that is routed, in whole or in part, to
one or more exchanges, CBOE will charge $ 0.35 per contract executed on
another exchange, in addition to the customary CBOE execution charges
(when applicable). The changes will take effect on August 23, 2010.
    These larger non-broker dealer customer orders are more akin to
broker dealer orders and CBOE believes it is appropriate and consistent
to pass through some of these costs. We note that the step-up service
should still be a very attractive offering for these larger non-broker
dealer orders since, when step-up is achieved, they will continue to
receive considerable cost savings. As is the case today, order senders
can request that orders be cancelled if step-up is not achieved without
routing to an away market, thereby avoiding this new charge. The
program will remain unchanged for orders that fall under the 1,000
contract threshold.
2. Statutory Basis
    The proposed rule change is consistent with Section 6(b) of the
Securities Exchange Act of 1934 (the ``Act''),\4\ in general, and
furthers the objectives of Section 6(b)(4) \5\ of the Act in
particular, in that it is designed to provide for the equitable
allocation of reasonable dues, fees, and other charges among CBOE
trading permit holders. Because non-broker dealer customer orders with
an original size of 1,000 contracts or more are more akin to broker
dealer orders, CBOE believes it is appropriate to pass through some
costs associated with this routing service.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78f(b).
    \5\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

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

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

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

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

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

    The proposed rule change is designated by the Exchange as
establishing or changing a due, fee, or other charge, thereby
qualifying for effectiveness on filing pursuant to Section
19(b)(3)(A)(ii) \6\ of the Act and subparagraph (f)(2) of Rule 19b-4
\7\ thereunder.
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \7\ 17 C.F.R. 240.19b-4(f)(2).
---------------------------------------------------------------------------

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

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://
www.sec.gov/rules/sro.shtml); or
     Send an e-mail to<EMAIL_ADDRESS>Please include
File Number SR-CBOE-2010-076 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-CBOE-2010-076. This file
number should be included on the subject line if e-mail is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro/
shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be

available for Web site viewing and printing in the Commission's Public
Reference Room, 100 F Street, NE., Washington, DC 20549, on official
business days between the hours of 10 a.m. and 3 p.m. Copies of such
filing will also be available for inspection and copying at the
principal office of the Exchange. All comments received will be posted
without change; the Commission does not edit personal identifying
information from submissions. You should submit only information that
you wish to make available publicly. All submissions should refer to
File No. SR-CBOE-2010-076 and should be submitted on or before
September 28, 2010.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
---------------------------------------------------------------------------

    \8\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-22207 Filed 9-3-10; 8:45 am]
BILLING CODE 8010-01-P


[Federal Register Volume 78, Number 178 (Friday, September 13, 2013)]
[Rules and Regulations]
[Pages 56597-56599]
[FR Doc No: 2013-22181]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. FAA-2013-0398; Directorate Identifier 2011-SW-065-AD;
Amendment 39-17578; AD 2013-18-05]
RIN 2120-AA64

Airworthiness Directives; Eurocopter Deutschland GmbH Helicopters

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final rule.

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

SUMMARY: We are adopting a new airworthiness directive (AD) for
Eurocopter Deutschland GmbH (ECD) Model EC135P1, EC135P2, EC135P2+,
EC135T1, EC135T2, and EC135T2+ helicopters with certain fire
extinguishing systems installed. This AD requires modifying the fire
extinguishing system injection tubes. This AD is prompted by a report
that the injection tubes are deforming due to heat. The actions
required by this AD are intended to prevent deformation of the fire
extinguishing system injection tubes during a fire, which could result
in impaired distribution of the fire extinguishing agent, failure of
the fire extinguishing system to contain an engine fire, and subsequent
loss of control of the helicopter.

DATES: This AD is effective October 18, 2013.
    The Director of the Federal Register approved the incorporation by
reference of a certain document listed in this AD as of October 18,
2013.

ADDRESSES: For service information identified in this AD, contact
American Eurocopter Corporation, 2701 N. Forum Drive, Grand Prairie, TX
75052; telephone<PHONE_NUMBER> or<PHONE_NUMBER>; fax<PHONE_NUMBER>;
or at http://www.eurocopter.com/techpub. You may review the referenced
service information at the FAA, Office of the Regional Counsel,
Southwest Region, 2601 Meacham Blvd., Room 663, Fort Worth, Texas
76137.

Examining the AD Docket

    You may examine the AD docket on the Internet at http://www.regulations.gov or in person at the Docket Operations Office
between 9 a.m. and 5 p.m., Monday through Friday, except Federal
holidays. The AD docket contains this AD, the foreign authority's AD,
any incorporated-by-reference service information, the economic
evaluation, any comments received, and other information. The street
address for the Docket Operations Office (phone:<PHONE_NUMBER>) is U.S.
Department of Transportation, Docket Operations Office, M-30, West
Building Ground Floor, Room W12-140, 1200 New Jersey Avenue SE.,
Washington, DC 20590.

FOR FURTHER INFORMATION CONTACT: Matt Wilbanks, Aviation Safety
Engineer, Rotorcraft Certification Office, Rotorcraft Directorate, FAA,
2601 Meacham Blvd., Fort Worth, Texas 76137; telephone<PHONE_NUMBER>;
email<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

Discussion

    On May 8, 2013, at 78 FR 26715, the Federal Register published our
notice of proposed rulemaking (NPRM), which proposed to amend 14 CFR
part 39 to include an AD that would apply to ECD Model EC135P1,
EC135P2, EC135P2+, EC135T1, EC135T2, and EC135T2+ helicopters with a
fire extinguishing system part number (P/N) L262M1808101, P/N
L262M1812101, or P/N L262M1812102 installed. The NPRM proposed to
require, within 30 days, cutting out a portion of the existing fire
extinguishing system injection tubes and replacing that portion with a
section of new injection tubing. The proposed requirements were
intended to prevent deformation of the fire extinguishing system
injection tubes during a fire, which could result in impaired
distribution of the fire extinguishing agent, failure of the fire
extinguishing system to contain an engine fire, and subsequent loss of
control of the helicopter.
    The NPRM was prompted by AD No. 2011-0172, dated September 7, 2011,
issued by the European Aviation Safety Agency (EASA), which is the
Technical Agent for the Member States of the European Union. EASA
issued AD No. 2011-0172 to correct an unsafe

condition for ECD Model EC 135 P1, EC 135 P2, EC 135 P2+, EC 135 T1, EC
135 T2, EC 135 T2+, EC 635 T1, EC 635 P2+, and EC 635 T2+ helicopters
with a single engine fire extinguishing system, P/N L262M1808101, P/N
L262M1812101, or P/N L262M1812102, or with a dual engine fire
extinguishing system, P/N L262M1813102, installed. EASA advises that
the fire extinguishing system injection tubes on Model EC 135 and EC
635 helicopters ``are not compliant with the relevant airworthiness
requirements, because they are also forming part of the firewall.''
According to EASA, during an engine fire, this condition may affect the
function of the fire extinguishing system and degrade the fire
containment capability of the system to the extent that it is incapable
of extinguishing an engine fire. For these reasons, EASA issued AD
2011-0172, which requires modification of the affected injection tubes
by removing part of the tubing and replacing it with a section of heat-
resistant injection tubing.

Comments

    We gave the public the opportunity to participate in developing
this AD, but we did not receive any comments on the NPRM (78 FR 26715,
May 8, 2013).

FAA's Determination

    These helicopters have been approved by the aviation authority of
the Federal Republic of Germany and are approved for operation in the
United States. Pursuant to our bilateral agreement with the Federal
Republic of Germany, EASA, its technical representative, has notified
us of the unsafe condition described in the EASA AD. We are issuing
this AD because we evaluated all information provided by EASA and
determined the unsafe condition exists and is likely to exist or
develop on other helicopters of these same type designs and that air
safety and the public interest require adopting the AD requirements as
proposed.

Differences Between This AD and the EASA AD

    The EASA AD applies to helicopters with a dual engine fire
extinguishing system and this AD does not because these systems are
only installed on helicopters operated by the German Federal Police and
are not operated in the U.S.

Related Service Information

    ECD has issued EC135 Alert Service Bulletin No. EC135-26A-003,
Revision 2, dated December 19, 2011, which describes procedures to
remove a section of the fire extinguishing system injection tubing and
replace it with heat-resistant injection tubing.

Costs of Compliance

    We estimate that this AD will affect 246 helicopters of U.S.
Registry. We estimate that operators may incur the following costs in
order to comply with this AD. Modifying the injection tubes will
require about 4.5 work-hours at an average labor rate of $85 per hour
and required parts would cost about $900, for a cost of $1,282 per
helicopter and a total cost to U.S. operators of $315,372.

Authority for This Rulemaking

    Title 49 of the United States Code specifies the FAA's authority to
issue rules on aviation safety. Subtitle I, section 106, describes the
authority of the FAA Administrator. Subtitle VII: Aviation Programs,
describes in more detail the scope of the Agency's authority.
    We are issuing this rulemaking under the authority described in
Subtitle VII, Part A, Subpart III, Section 44701: ``General
requirements.'' Under that section, Congress charges the FAA with
promoting safe flight of civil aircraft in air commerce by prescribing
regulations for practices, methods, and procedures the Administrator
finds necessary for safety in air commerce. This regulation is within
the scope of that authority because it addresses an unsafe condition
that is likely to exist or develop on helicopters identified in this
rulemaking action.

Regulatory Findings

    This AD will not have federalism implications under Executive Order
13132. This AD will not have a substantial direct effect 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.
    For the reasons discussed above, I certify that this AD:
    (1) Is not a ``significant regulatory action'' under Executive
Order 12866;
    (2) Is not a ``significant rule'' under DOT Regulatory Policies and
Procedures (44 FR 11034, February 26, 1979);
    (3) Will not affect intrastate aviation in Alaska to the extent
that it justifies making a regulatory distinction; and
    (4) Will not have a significant economic impact, positive or
negative, on a substantial number of small entities under the criteria
of the Regulatory Flexibility Act.
    We prepared an economic evaluation of the estimated costs to comply
with this AD and placed it in the AD docket.

List of Subjects in 14 CFR Part 39

    Air transportation, Aircraft, Aviation safety, Incorporation by
reference, Safety.

Adoption of the Amendment

    Accordingly, under the authority delegated to me by the
Administrator, the FAA amends 14 CFR part 39 as follows:

PART 39--AIRWORTHINESS DIRECTIVES

0
1. The authority citation for part 39 continues to read as follows:

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

Sec.  39.13  [Amended]

0
2. The FAA amends Sec.  39.13 by adding the following new airworthiness
directive (AD):

2013-18-05 Eurocopter Deutschland GmbH: Amendment 39-17578; Docket
No. FAA-2013-0398; Directorate Identifier 2011-SW-065-AD.

(a) Applicability

    This AD applies to Eurocopter Deutschland GmbH (ECD) Model
EC135P1, EC135P2, EC135P2+, EC135T1, EC135T2, and EC135T2+
helicopters with a fire extinguishing system part number (P/N)
L262M1808101, P/N L262M1812101, or P/N L262M1812102 installed,
certificated in any category.

 (b) Unsafe Condition

    This AD defines the unsafe condition as deformation of the fire
extinguishing system injection tubes during an engine fire, which
could result in impaired distribution of the fire extinguishing
agent, failure of the fire extinguishing system to contain a fire,
and subsequent loss of control of the helicopter.

(c) Effective Date

    This AD becomes effective October 18, 2013.

(d) Compliance

    You are responsible for performing each action required by this
AD within the specified compliance time unless it has already been
accomplished prior to that time.

(e) Required Actions

    (1) Within 30 days, modify each fire extinguishing system
injection tube by removing and replacing a section of the tubing in
accordance with the Accomplishment Instructions, paragraph 3.B., of
Eurocopter EC135 Alert Service Bulletin No. EC135-26A-003, Revision
2, dated December 19, 2011.
    (2) Do not install an injection tube, P/N L262M1810101, P/N
L262M1811801, or P/N L262M1809101, on any helicopter unless it has
been modified as required by this AD.

(f) Alternative Methods of Compliance (AMOCs)

    (1) The Manager, Safety Management Group, FAA, may approve AMOCs
for this

AD. Send your proposal to: Matt Wilbanks, Aviation Safety Engineer,
Rotorcraft Certification Office, Rotorcraft Directorate, FAA, 2601
Meacham Blvd., Fort Worth, Texas 76137; telephone<PHONE_NUMBER>;
email<EMAIL_ADDRESS>    (2) For operations conducted under a 14 CFR part 119 operating
certificate or under 14 CFR part 91, subpart K, we suggest that you
notify your principal inspector, or lacking a principal inspector,
the manager of the local flight standards district office or
certificate holding district office, before operating any aircraft
complying with this AD through an AMOC.

(g) Additional Information

    The subject of this AD is addressed in European Aviation Safety
Agency (EASA) AD No. 2011-0172, dated September 7, 2011. You may
view the EASA AD in the AD Docket on the internet at http://www.regulations.gov.

(h) Subject

    Joint Aircraft Service Component (JASC) Code: 2620:
Extinguishing System.

(i) Material Incorporated by Reference

    (1) The Director of the Federal Register approved the
incorporation by reference (IBR) of the service information listed
in this paragraph under 5 U.S.C. 552(a) and 1 CFR part 51.
    (2) You must use this service information as applicable to do
the actions required by this AD, unless the AD specifies otherwise.
    (i) Eurocopter EC135 Alert Service Bulletin No. EC135-26A-003,
Revision 2, dated December 19, 2011.
    (ii) Reserved.
    (3) For Eurocopter service information identified in this AD,
contact American Eurocopter Corporation, 2701 N. Forum Drive, Grand
Prairie, TX 75052; telephone<PHONE_NUMBER> or<PHONE_NUMBER>; fax
(972) 641-3775; or at http://www.eurocopter.com/techpub.
    (4) You may view this service information at FAA, Office of the
Regional Counsel, Southwest Region, 2601 Meacham Blvd., Room 663,
Fort Worth, Texas 76137. For information on the availability of this
material at the FAA, call<PHONE_NUMBER>.
    (5) You may also view this service information that is
incorporated by reference at the National Archives and Records
Administration (NARA). For information on the availability of this
material at NARA, call<PHONE_NUMBER>, or go to: http://www.archives.gov/federal-register/cfr/ibr-locations.html.

    Issued in Fort Worth, Texas, on August 27, 2013.
Kim Smith,
Directorate Manager, Rotorcraft Directorate, Aircraft Certification
Service.
[FR Doc. 2013-22181 Filed 9-12-13; 8:45 am]
BILLING CODE 4910-13-P