[Federal Register: June 1, 2006 (Volume 71, Number 105)]
[Notices]
[Page 31234-31236]
[DOCID:fr01jn06-115]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-53867; File No. SR-Amex-2006-50]

Self-Regulatory Organizations; American Stock Exchange LLC;
Notice of Filing and Order Granting Accelerated Approval of Proposed
Rule Change Regarding Options Quote Size Mitigation

May 25, 2006.
    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 May 18, 2006, the American Stock Exchange LLC (``Amex'' 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 substantially prepared by the Amex. The
Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons and to approve the
proposal on an accelerated basis.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to extend the operation of the options market
data size mitigation pilot program (``Options Size Mitigation'' or
``Pilot Program'') from March 5, 2006 through March 5, 2007.
    The text of the proposed rule change is available on the Amex's Web
site (http://www.amex.com), at the Office of the Secretary, the Amex,

and at the Commission's Public Reference Room.

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

    In its filing with the Commission, the Amex 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 III 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 the
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Amex is proposing to extend the operation of Options Size
Mitigation from March 5, 2006 through March 5, 2007. The Commission
approved Options Size Mitigation on a four (4) month pilot basis on
November 4, 2005.\3\ The Pilot Program terminated on March 5, 2006
without extension.
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    \3\See Securities Exchange Act Release No. 52741 (November 4,
2005), 70 FR 69369 (November 15, 2005).
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    The purpose of the proposal is to continue the effectiveness of the
Pilot Program until March 5, 2007. According to the Exchange,
continuation of the Pilot Program will benefit the Exchange and the
marketplace by helping to enhance the Exchange's ability to process an
ever increasing volume of incoming options quotes. The Exchange
believes that the continuation of Options Size Mitigation will help to
prevent potential data delays and enhance the Exchange's ability to
manage market data traffic.
    Under Options Size Mitigation, incoming market data is filtered
prior to being forwarded to Exchange floor trading systems. When in
effect, Options Size Mitigation filters market data by not processing
incoming quotes (i.e., away market quotes) with size changes below a
variable percent. However, Amex systems always maintain and display
Amex quotations with accurate size regardless of whether Options Size
Mitigation is in effect.
    The Exchange submits that the initial Options Size Mitigation
filtering level was set at 10% and has remained the same since the
introduction of the Pilot Program. As set forth in the Approval Order,
the Exchange has the ability to increase the filtering level in 10%
level increments as warranted. The appropriate filtering level is
determined by the head of the Exchange's Floor Operations (or his
designee), in conjunction with two (2) Senior Floor Officials.
    As was the case in the original Pilot Program, the Exchange
believes that Options Size Mitigation offers greater ability and
flexibility to manage inbound quote traffic. Given the exponential
increase in options quote traffic rates in recent years, the Exchange
believes that the continuation of Options Size Mitigation is a
necessary tool in connection with the processing of quote traffic.
    Based on the Exchange's experience to date, the Amex believes that
continuation of the Pilot Program from March 5, 2006 through March 5,
2007 is appropriate.
2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with
section 6(b) of the Act\4\ in general and furthers the objectives of
section 6(b)(5)\5\ in particular in that it is 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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    \4\ 15 U.S.C. 78f(b).
    \5\ 15 U.S.C. 78f(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The proposed rule change does not impose any burden on competition
that is 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. 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 at http://www.sec.gov/rules/sro.shtml.
; or     Send an e-mail to<EMAIL_ADDRESS>Please include

File No. SR-Amex-2006-50 on the subject line.

Paper Comments

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

    All submissions should refer to File No. SR-Amex2006-50. 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 at 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 inspection and
copying in the Commission's Public Reference Room, 100 F Street, NE.,
Washington, DC 20549. Copies of such filing also will be available for
inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File No. SR-Amex-2006-50 and should be
submitted on or before June 22, 2006.

IV. Commission's Findings and Order Granting Accelerated Approval of
Proposed Rule Change.

    After careful consideration, the Commission finds that the proposed
rule change is consistent with the requirements of the section 6 of the
Act \6\ and the rules and regulations thereunder applicable to a
national securities exchange.\7\ In particular, the Commission believes
that the proposed rule change is consistent with section 6(b)(5) of the
Act, which requires, among other things, that the rules of a national
securities exchange be 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
regulating, clearing, settling, processing information with respect to,
and facilitating transactions in securities, to remove impediments to
and perfect the mechanism of a free and open market and a national
market system, and, in general, to protect investors and the public
interest.\8\
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    \6\ 15 U.S.C. 78f.
    \7\ In approving this proposed rule change, the Commission has
considered its impact on efficiency, competition, and capital
formation. See 15 U.S.C. 78c(f).
    \8\ 15 U.S.C. 78f(b)(5).
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    The Commission believes that the Options Size Mitigation should
continue to enhance the Amex's ability to process an increasing volume
of

incoming options quotes during high option quote volume periods and
peaks. The Commission notes that Options Size Mitigation operated on a
pilot basis for four months and the Amex believes it is functioning as
intended.
    The Amex has requested that the Commission find good cause for
approving the proposed rule change prior to the thirtieth day after
publication of the notice thereof in the Federal Register. The
Commission believes that granting accelerated approval of the proposal
will allow the Amex to continue to operate the Options Size Mitigation
program without interruption and thus, should facilitate the processing
of incoming options quotes. The Commission notes that no comments were
received in connection with the approval of the temporary Pilot Program
and no comments have been received during the operation of the
temporary Pilot Program. Accordingly, the Commission finds good cause,
pursuant to section 19(b)(2) of the Act,\9\ for approving the proposed
rule change prior to the thirtieth day after publication of the notice
thereof in the Federal Register.
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    \9\ 15 U.S.C. 78s(b)(2).
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V. Conclusion

    It is therefore ordered, pursuant to section 19(b)(2) of the
Act,\10\ that the proposed rule change, as amended (SR-Amex-2006-50),
is hereby approved on an accelerated basis for a period to expire on
March 5, 2007.
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    \10\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\11\
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    \11\ 17 CFR 200.30-3(a)(12).
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Nancy M. Morris,
Secretary.
 [FR Doc. E6-8477 Filed 5-31-06; 8:45 am]

BILLING CODE 8010-01-P


[Federal Register Volume 86, Number 211 (Thursday, November 4, 2021)]
[Rules and Regulations]
[Pages 60763-60766]
[FR Doc No: 2021-23865]

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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 100

[Docket Number USCG-2021-0582]
RIN 1625-AA08

Special Local Regulation; Atlantic Ocean, Key West, FL

AGENCY: Coast Guard, DHS.

ACTION: Temporary final rule.

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SUMMARY: The Coast Guard is establishing a temporary special local
regulation for power boat races. This action is necessary to ensure
safety of life on navigable waters on the waters of the Key West Main
Ship Channel, Key West Turning Basin, and Key West Harbor Entrance in
Key West, FL. This regulation prohibits persons and vessels from
entering, transiting through, anchoring in, or remaining within the
regulated area without permission from the Captain of the Port Key West
or a designated representative.

DATES: This rule is effective from 9:30 a.m. on November 10, 2021,
until 4:30 p.m. on November 14, 2021. This rule will only be subject to
enforcement from the hours of 9:30 a.m. to 4:30 p.m., on November 10,
12, and 14, 2021.

ADDRESSES: To view documents mentioned in this preamble as being
available in the docket, go to https://www.regulations.gov, type USCG-
2021-0582 in the ``SEARCH'' box and click ``SEARCH.'' Click on Open
Docket Folder on the line associated with this rule.

FOR FURTHER INFORMATION CONTACT: If you have questions on this rule,
call or email Lieutenant Junior Grade Vera Max, Sector Key West
Waterways Management Division, Coast Guard; telephone<PHONE_NUMBER>,
email [email protected].

SUPPLEMENTARY INFORMATION:

I. Table of Abbreviations

CFR Code of Federal Regulations
COTP Captain of the Port
DHS Department of Homeland Security
FR Federal Register
NPRM Notice of proposed rulemaking
Sec.  Section
U.S.C. United States Code

II. Background Information and Regulatory History

    On May 7, 2021, Race World Offshore notified the Coast Guard that
it would be conducting high-speed boat races from 9:30 a.m. until 4:30
p.m. each day on November 10, 12, and 14, 2021. Approximately 50
participants and 200 spectator craft are expected to attend the event,
which will take place in the Atlantic Ocean, off the tip of Key West,
Florida, on the waters of the Key West Main Ship Channel, Key West
Turning Basin, and Key West Harbor Entrance in Key West, FL. In
response, on October 5, 2021, the Coast Guard published a notice of
proposed rulemaking (NPRM) titled, ``Special Local Regulation; Atlantic
Ocean, Key West, FL'' (86 FR 54879). There we stated why we issued the
NPRM, and invited comments on our proposed regulatory action related to
this power boat race event.
    Under 5 U.S.C. 553(d)(3), the Coast Guard finds that good cause
exists for making this rule effective less than 30 days after
publication in the Federal Register. Delaying the effective date of
this rule would be impracticable because the event is taking place on
November 10, 12, and 14, 2021, and immediate action is needed to
respond to the potential safety hazards associated with this event.

III. Legal Authority and Need for Rule

    The Coast Guard is issuing this rule under authority in 46 U.S.C.
70041. The Captain of the Port Key West (COTP) has determined that the
potential hazards associated with the high-speed boat race would be a
safety concern for the participants, participant vessels, and the
general public. The purpose of this rule is to protect event
participants, spectators, and vessels on the navigable waters of the
Key West Main Ship Channel, Key West Turning Basin, and Key West Harbor
Entrance before, during, and after the scheduled event.

IV. Discussion of Comments, Changes, and the Rule

    As noted above, we received six comments on our NPRM published
October 5, 2021. Four comments were in support of the rule, citing the
need for safety around this large event. One comment was in support of
the rule, but pointed out the possible effects on small entities and
their options for working with the Coast Guard to mitigate those
effects, as discussed in section V.B of this rule. We received one
comment that raised concerns about the West Indian Manatee, calling for
measures to be in place to account for injuries to manatees and other
species that could be harmed by the high-speed boat races. The Coast
Guard has conducted outreach with several state and federal agencies,
including the Florida Keys National Marine Sanctuary and U.S.
Department of Fish and Wildlife, through the Environmental Analysis
discussed in Section V.F. The sponsor has provided a safety plan,
including measures for protection of manatees. There are no changes in
the regulatory text of this rule from the proposed rule in the NPRM.
    This rule establishes a temporary special local regulation that
will be subject to enforcement from 9:30 a.m. until 4:30 p.m. on
November 10, 12, and 14, 2021. The temporary special local regulation
consists of two regulated areas: (1) Race and safety buffer area, and
(2) spectator area. These areas prohibit persons and vessels from
entering, transiting through, anchoring in, or remaining within the
race area or buffer zone and prohibit vessels from transiting at speeds
that cause wake within the spectator area, unless authorized by the
COTP Key West or a designated representative. The temporary special
local regulation covers all navigable waters in the Atlantic Ocean, off
the tip of Key West, Florida, on the waters of the Key West Main Ship
Channel, Key West Turning Basin, and Key West Harbor Entrance.

V. Regulatory Analyses

    We developed this rule after considering numerous statutes and
Executive orders related to rulemaking. Below we summarize our analyses
based on a number of these statutes and Executive orders, and we
discuss First Amendment rights of protestors.

A. Regulatory Planning and Review

    Executive Orders 12866 and 13563 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. This rule has not been designated a ``significant
regulatory action,'' under Executive Order 12866. Accordingly, this
rule has not been reviewed by the Office of Management and Budget
(OMB).
    This regulatory action determination is based on the location,
duration, and time-of-day of the regulated area. Although persons and
vessels may not enter, transit through, anchor in, or remain within the
area without authorization from the COTP or a designated
representative, they will be able to safely transit around the area.
Moreover, the Coast Guard will issue a Broadcast Notice to Mariners via
VHF-FM marine channel 16 about the area, and the rule will allow
vessels to seek permission to enter the area between race heats.

B. Impact on Small Entities

    The Regulatory Flexibility Act of 1980, 5 U.S.C. 601-612, as
amended, requires Federal agencies to consider the potential impact of
regulations on small entities during rulemaking. 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 received no comments from the Small Business
Administration on this rulemaking. The Coast Guard certifies under 5
U.S.C. 605(b) that this rule will not have a significant economic
impact on a substantial number of small entities.
    While some owners or operators of vessels intending to transit the
regulated area may be small entities, for the reasons stated in section
V.A above, this rule will not have a significant economic impact on any
vessel owner or operator.
    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 rule. If the rule would affect your small business,
organization, or governmental jurisdiction and you have questions
concerning its provisions or options for compliance, please call or
email the person listed in the FOR FURTHER INFORMATION CONTACT section.
    Small businesses may send comments on the actions of Federal
employees who enforce, or otherwise determine compliance with, Federal
regulations to the Small Business and Agriculture Regulatory
Enforcement Ombudsman and the Regional Small Business Regulatory
Fairness Boards. The Ombudsman evaluates these actions annually and
rates each agency's responsiveness to small business. If you wish to
comment on actions by employees of the Coast Guard, call 1-888-REG-FAIR
(1-888-734-3247). The Coast Guard will not retaliate against small
entities that question or complain about this rule or any policy or
action of the Coast Guard.

C. Collection of Information

    This rule will not call for a new collection of information under
the Paperwork Reduction Act of 1995 (44 U.S.C. 3501-3520).

D. Federalism and Indian Tribal Governments

    A rule has implications for federalism under Executive Order 13132,
Federalism, if it has 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. We have analyzed this rule under that Order and have
determined that it is consistent with the fundamental federalism
principles and preemption requirements described in Executive Order
13132.
    Also, this rule does not have tribal implications under Executive
Order 13175, Consultation and Coordination with Indian Tribal
Governments, because it does 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. If
you believe this rule has implications for federalism or Indian tribes,
please call or email the person listed in the FOR FURTHER INFORMATION
CONTACT section.

E. 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 (adjusted for
inflation) or more in any one year. Though this rule will not result in
such an expenditure, we do discuss the effects of this rule elsewhere
in this preamble.

F. Environment

    We have analyzed this rule under Department of Homeland Security
Directive 023-01, Rev. 1, associated implementing instructions, and
Environmental Planning COMDTINST 5090.1 (series), which guide the Coast
Guard in complying with the National Environmental Policy Act of 1969
(42 U.S.C. 4321-4370f), and have determined that this action is one of
a category of actions that do not individually or cumulatively have a
significant effect on the human environment. Additionally, the event
sponsor has provided a marine protection plan that includes aerial and
on-water monitoring and provisions for halting the race should any
manatees or turtles be observed in or near the race area. This rule
involves a temporary special local regulation lasting 7 hours on 3 days
that will prohibit entry into the race area or buffer zone, and
prohibit vessels from transiting at speeds that cause wake within the
spectator area. It is categorically excluded from further review under
paragraph L61 of Appendix A, Table 1 of DHS Instruction Manual 023-01-
001-01, Rev. 1. A Record of Environmental Consideration supporting this
determination is available in the docket where indicated under
ADDRESSES.

G. Protest Activities

    The Coast Guard respects the First Amendment rights of protesters.
Protesters are asked to call or email the person listed in the FOR
FURTHER INFORMATION CONTACT section to coordinate protest activities so
that your message can be received without jeopardizing the safety or
security of people, places or vessels.

List of Subjects in 33 CFR Part 100

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

    For the reasons discussed in the preamble, the Coast Guard amends
33 CFR part 100 as follows:

PART 100--SAFETY OF LIFE ON NAVIGABLE WATERS

0
1. The authority citation for part 100 continues to read as follows:

    Authority:  46 U.S.C. 70041; 33 CFR 1.05-1.

0
2. Add temporary Sec.  100.T799-0582 to read as follows:

Sec.  100.T799-0582   Special Local Regulation; Power Boat Races, Key
West, FL.

    (a) Locations. The following regulated areas are established as
special local regulations. All coordinates are North American Datum
1983.
    (1) Race and safety buffer area. Waters of the Atlantic Ocean of
Key West, FL that are encompassed within the following points: Starting
at Point 1 in position 24[deg]32.506' N, 81[deg]49.984' W; thence
southwest to Point 2 in position 24[deg]32.455' N, 81[deg]49.040' W;
thence northwest to Point 3 in position 24[deg]32.559' N,
81[deg]49.584' W; thence northwest to Point 4 in position
24[deg]32.608' N, 81[deg]49.628' W; thence northwest to Point 5 in
position 24[deg]33.095' N, 81[deg]49.265' W; thence northeast to Point
6 in position 24[deg]33.518' N, 81[deg]48.902' W; thence northeast to
Point 7 in position 24[deg]33.908' N, 81[deg]48.448' W; thence east to
Point 8 in position 24[deg]33.898' N, 81[deg]48.364' W; thence
southeast back to origin.
    (2) Spectator area. All waters of the Atlantic Ocean in Key West,
FL that are encompassed within the following points: starting at Point
1 in position 24[deg]33.123' N, 81[deg]49.290' W; thence northeast to
Point 2 in position 24[deg]33.545' N, 81[deg]48.923' W; thence east to
Point 3 in position 24[deg]33.518' N, 81[deg]48.902' W thence southwest
to point 4 in position 24[deg]33.095' N, 81[deg]49.265' W thence west
back to origin.
    (b) Definition. As used in this section, the term ``designated
representative'' means a Coast Guard Patrol Commander, including a
Coast Guard coxswain, petty officer, or other officer operating a Coast
Guard vessel and a Federal, State, and local officer designated by or
assisting the Captain of the Port Key West in the enforcement of the
safety zone.
    (c) Regulations. (1) All non-participant persons and vessels,
except those persons and vessels participating in the high-speed boat
races, are prohibited from entering, transiting through, anchoring in,
or remaining within the regulated areas described in paragraph (a) of
this section unless authorized by the Captain of the Port Key West or
their designated representative.

    (2) All persons are prohibited from entering the water or swimming
in the spectator area described in paragraph (a)(2) of this section.
    (3) All vessels are prohibited from transiting at speeds that cause
wake within the spectator area described in paragraph (a)(2) of this
section.
    (4) To seek permission to enter, contact the Captain of the Port
Key West or a designated representative by telephone at<PHONE_NUMBER>,
or via VHF radio on channel 16. If authorization is granted by the
Captain of the Port Key West or a designated representative, all
persons and vessels receiving such authorization must comply with the
instructions of the Captain of the Port Key West or a designated
representative.
    (5) The Coast Guard will provide notice of the regulated area by
Broadcast Notice to Mariners and on-scene designated representatives.
    (d) Enforcement period. This section will be enforced from 9:30
a.m. until 4:30 p.m. on November 10, 12, and 14, 2021.

    Dated: October 28, 2021.
A. Chamie,
Captain, U.S. Coast Guard, Captain of the Port Key West.
[FR Doc. 2021-23865 Filed 11-3-21; 8:45 am]
BILLING CODE 9110-04-P


[Federal Register Volume 77, Number 99 (Tuesday, May 22, 2012)]
[Notices]
[Pages 30338-30341]
[FR Doc No: 2012-12305]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-67000; File No. SR-CBOE-2012-039]

Self-Regulatory Organizations; Chicago Board Options Exchange,
Incorporated; Notice of Filing and Immediate Effectiveness of Proposed
Rule Change To Amend Rule 3.6A--Qualification and Registration of
Trading Permit Holders and Associated Persons

May 16, 2012.
    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 May 3, 2012, the 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 CBOE. The
Exchange filed the proposal as a ``non-controversial'' proposed rule
change pursuant to Section 19(b)(3)(A)(iii) of the Act \3\ and Rule
19b-4(f)(6) thereunder,\4\ which renders the proposal effective upon
receipt of this filing by the Commission. The Commission is publishing
this notice to solicit comments on the proposed rule change from
interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \4\ 17 CFR 240.19b-4(f)(6).
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    Pursuant to the provisions of Section 19(b)(1) of the Securities
Exchange Act of 1934 (the ``Act''),\5\ the Chicago Board Options
Exchange, Incorporated (``CBOE'' or the ``Exchange'') proposes to (i)
remove the language in Interpretation and Policy .05 relating to
acceptable substitute qualification examinations; (ii) codify into the
Exchange's rules required registration categories for Trading Permit
Holders and TPH organizations that conduct proprietary trading, market-
making and/or that effect transactions on behalf of broker dealers;
(iii) specify the acceptable qualification requirements for Trading
Permit Holders and TPH organizations that conduct proprietary trading,
market-making and/or that effect transactions on behalf of broker
dealers; (iv) add an interpretation to state explicitly in the rule
that individual Trading Permit Holders and individual associated
persons must satisfy all registration and qualification requirements
prior to acting in such registered capacity on behalf of a Trading
Permit Holder or TPH organization; and (v) clarify the requirements
applicable to Proprietary Trader Principals (TP) associated with a
Trading Permit Holder or TPH organization. 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.
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    \5\ 15 U.S.C. 78s(b)(1).
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II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, CBOE 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. CBOE 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, Proposed Rule Change

1. Purpose
    CBOE proposes to amend Rule 3.6A to (i) remove the language in
Interpretation and Policy .05 relating to acceptable substitute
qualification examinations; (ii) codify into the Exchange's rules
required registration categories for Trading Permit Holders and TPH
organizations that conduct proprietary trading, market-making and/or
that effect transactions on behalf of broker dealers; (iii) specify the
acceptable qualification examinations (and related registration
categories) for Trading Permit Holders and TPH organizations that
conduct proprietary trading, market-making and/or that effect
transactions on behalf of broker dealers; (iv) add an interpretation to
state explicitly in the rule that individual Trading Permit Holders and
individual associated persons must satisfy all registration and
qualification requirements prior to engaging in the securities business
of a Trading Permit Holder or TPH organization (or prior to acting in a
new capacity on behalf of a Trading Permit Holder or TPH organization
where such capacity has additional registration/qualification
requirements); and (v) clarify the

requirements applicable to Proprietary Trader Principals (TP)
associated with a Trading Permit Holder or TPH organization.
    CBOE is proposing to identify the registration categories and
qualification requirements for Trading Permit Holders and TPH
organizations in the proposed Interpretation and Policy .08 to Rule
3.6A. CBOE Rule 3.6A(a) provides that individual Trading Permit Holders
and individual associated persons engaged or to be engaged in the
securities business of a Trading Permit Holder or TPH organization
shall be registered with the Exchange in the category of registration
appropriate to the function to be performed as prescribed by the
Exchange.\6\ On June 28, 2011, the Exchange issued a Regulatory
Circular prescribing the registration and qualification requirements
(including prerequisite examinations) for Trading Permit Holders and
TPH organizations conducting proprietary trading, market-making and/or
effecting transactions on behalf of other broker dealers.\7\ These
requirements included registration by individual Trading Permit Holders
and individual associated persons under three new categories of
registration, as applicable. An individual Trading Permit Holder and/or
individual associated person who is engaged in the securities business
of a Trading Permit Holder (as described in Interpretation and Policy
.06 to Rule 3.6A) is required to register as a Proprietary Trader (PT)
in WebCRD and pass the related qualification examination, the Series
56. An individual Trading Permit Holder or individual associated person
is required to register as a Proprietary Trader Principal (TP) in
WebCRD and pass the related qualification examination, the Series 24
(and the prerequisite examination, the Series 56) if such individual
acts in any of the following capacities on behalf of a Trading Permit
Holder: (i) Officer; (ii) partner; (iii) director; (iv) supervisor of
proprietary trading, market-making or brokerage activities; and/or (v)
supervisor of those engaged in proprietary trading, market-making or
brokerage activities with respect to those activities. Lastly, the
Chief Compliance Officer (or individual performing similar functions)
for a Trading Permit Holder or TPH organization that engages in
proprietary trading, market-making or effecting transactions on behalf
of a broker-dealer is required to register as a Proprietary Trader
Compliance Officer (CT) in WebCRD and pass the related qualification
examination, the Series 14 (and the prerequisite examination, the
Series 56). This proposal does not add any new requirements but
codifies the requirements previously prescribed by the Exchange in
Regulatory Circular RG11-077.
---------------------------------------------------------------------------

    \6\ See Securities Exchange Act Release No. 63314 (November 12,
2010), 75 FR 70957 (November 19, 2010) (SR-CBOE-2010-084).
    \7\ See CBOE Regulatory Circular RG11-077 (issued June 28,
2011).
---------------------------------------------------------------------------

    CBOE is proposing to remove the language from Interpretation and
Policy .05 to Rule 3.6A relating to acceptable substitute qualification
requirements and instead incorporate those requirements into
Interpretation and Policy .08(b). CBOE is proposing to include a chart
in Interpretation and Policy .08(b) to Rule 3.6A to identify the
required registration categories, the applicable qualification
examinations as set forth above and the alternative acceptable
qualifications for each of the three registration categories referenced
above. The language proposing the alternative acceptable qualifications
is substantially similar to the language CBOE is proposing to delete
from Interpretation and Policy .05.\8\
---------------------------------------------------------------------------

    \8\ See Securities Exchange Act Release No. 65147 (August 17,
2011), 76 FR 52722 (August 23, 2011) (SR-CBOE-2011-075). See also
Footnote 5.
---------------------------------------------------------------------------

    Specifically, CBOE is proposing to permit the General Securities
Representative (GS) registration (Series 7) to serve as an acceptable
alternative qualification to obtain the Proprietary Trader (PT)
registration.\9\ Similarly, CBOE is proposing to permit the General
Securities Sales Supervisor (SU) registration (Series 9/10) and the
General Securities Principal--Sales Supervisor Module registration
(Series 23) to collectively serve as an alternative acceptable
qualification to obtain the Proprietary Trader Principal (TP)
registration. In addition, CBOE is proposing to permit the General
Securities Principal (GP) registration (Series 24) or the Proprietary
Trader Principal (TP) registration to serve as an alternative
acceptable qualification to obtain the Proprietary Trader Compliance
Officer (CT) registration. As noted above, the alternative
qualifications for the Proprietary Trader Principal (TP) and
Proprietary Trader Compliance Officer (CT) are currently acceptable
under Interpretation and Policy .05 to Rule 3.6A. CBOE is proposing to
incorporate this language into Interpretation and Policy .08 and remove
it from Interpretation and Policy .05, as an individual maintaining
these qualifications is not required to request a waiver from the
Exchange, and Interpretation and Policy .05 relates to waiver requests.
---------------------------------------------------------------------------

    \9\ The current Interpretation and Policy .05 provides that the
Series 7 would be permitted as an acceptable substitute
qualification examination for the Proprietary Trader (PT)
registration category through December 31, 2011. CBOE is proposing
to delete the reference to the December 31, 2011 deadline as part of
the proposed deletions to Interpretation and Policy .05 to Rule
3.6A. As noted above, CBOE is proposing to codify that the General
Securities Representative (GS) registration (Series 7) will be
permitted as an acceptable alternative qualification to obtain the
Proprietary Trader (PT) registration category. While CBOE believes
the Series 56 is a more applicable exam for those individuals
engaged in proprietary trading, market-making and/or effecting
transactions for broker-dealers, CBOE proposes to accept the General
Securities Representative (GS) registration (Series 7) as an
acceptable alternative qualification because the other applicable
self-regulatory organizations permit individuals who maintain that
registration to qualify for a Proprietary Trader (PT) registration
and/or require the General Securities Representative (GS)
registration (Series 7) to serve as the appropriate category of
registration for proprietary traders. See, for example, NASD Rule
1032 [sic] and NASDAQ OMX PHLX Rule 604.
---------------------------------------------------------------------------

    Rule 3.6A(e) provides that ``any person whose registration has been
revoked by the Exchange as a disciplinary sanction or whose most recent
registration has been terminated for two or more years immediately
preceding the date of receipt by the Exchange of a new application
shall be required to pass a qualification examination appropriate to
the category of registration * * *'' It should be noted that an
individual Trading Permit Holder or individual associated person who
has been registered in a category of registration that is considered an
alternative acceptable qualification within the previous two years (and
whose registration has not been revoked as a disciplinary sanction)
shall meet the alternative acceptable qualification requirements for
purposes of registering as a Proprietary Trader (PT), Proprietary
Trader Principal (TP) or a Proprietary Trader Compliance Officer (CT).
For example, an individual whose previous registration as a General
Securities Representative (GS) terminated on December 31, 2011 may rely
on that registration as an alternative acceptable qualification to
obtain the Proprietary Trader (PT) registration upon employment as a
proprietary trader of a Trading Permit Holder at any time within the
two year period ending December 31, 2013.
    CBOE is also proposing to adopt Interpretation and Policy .09 to
Rule 3.6A to state explicitly that any individual qualifying for a
registration category pursuant to Rule 3.6A must satisfy all
registration and qualification requirements prior to becoming engaged
in the securities business of a Trading Permit Holder or, as
applicable, prior to acting in a capacity on behalf of a Trading Permit
Holder or TPH organization requiring such registration.

While the requirement exists today, CBOE is proposing to add this
language to ensure that Trading Permit Holders and applicable
associated persons are reminded of their obligation to register and
qualify all applicable associated persons prior to engaging in the
securities business of the Trading Permit Holder or, as applicable,
prior to acting in a capacity on behalf of a Trading Permit Holder or
TPH organization requiring such registration. For example, if an
existing employee who currently conducts a public customer business on
behalf of the Trading Permit Holder (and thus, maintains the General
Securities Representative (GS) registration) wishes to engage in
proprietary trading, that individual must be approved in WebCRD in the
Proprietary Trader (PT) registration category prior to acting in the
capacity of a proprietary trader on behalf of the Trading Permit Holder
or TPH organization.
    Lastly, CBOE is proposing to clarify Interpretation and Policy .07
to Rule 3.6A to (i) state explicitly that individuals who fall into one
of the categories referenced in Interpretation and Policy .07 to Rule
3.6A are subject to heightened qualification requirements \10\ and (ii)
clarify that a Trading Permit Holder that conducts only proprietary
trading and has 25 or fewer registered persons shall be required to
have a minimum of one officer or partner who is registered in this
capacity. Exchange staff has received multiple questions regarding
whether a Trading Permit Holder that conducts proprietary trading only
and that has 25 or fewer registered persons is required only to have
one officer or partner who is registered as a Proprietary Trader
Principal (PT). This is not a proper interpretation of the requirement.
The approval order for SR-CBOE-2010-084 provides, in relevant part,
``all individuals who engage in supervisory functions at the TPH
organization's securities business, or who oversee associated persons
of TPHs, must register and pass the relevant principal examination.''
\11\ The Exchange is not proposing to impose any additional obligations
on Trading Permit Holders or TPH organizations but rather is clarifying
this language in response to questions received relating to this
provision.
---------------------------------------------------------------------------

    \10\ Proposed Interpretation and Policy .08 to Rule 3.6A
provides that individuals who fall into the categories set forth in
Interpretation and Policy .07 to Rule 3.6A are required to register
and qualify as a Proprietary Trader Principal (TP).
    \11\ See Securities Exchange Act Release No. 63314 (November 12,
2010), 75 FR 70957 (November 19, 2010) (SR-CBOE-2010-084).
---------------------------------------------------------------------------

2. Statutory Basis
    The proposed rule change is consistent with Section 6(c) of the
Act,\12\ in general, and furthers the objectives of Section 6(c)(3)
\13\ of the Act, which authorizes CBOE to prescribe standards of
training, experience and competence for persons associated with CBOE
and CBSX Trading Permit Holders, in that the proposed rule codifies the
existing registration and qualification requirements (including
alternative acceptable qualifications) for CBOE and CBSX Trading Permit
Holders and TPH organizations. In addition, the proposed rule change is
consistent with Section 6(c)(3) of the Act \14\ in that CBOE is
proposing to permit the General Securities Representative (GS)
registration (Series 7) to serve as an alternative acceptable
qualification to register as a Proprietary Trader (PT). The additional
changes to the rule text are clarifying changes and do not impose any
additional obligations on Trading Permit Holders or their associated
persons. CBOE believes the proposed changes are reasonable and set
forth the appropriate qualifications for an individual Trading Permit
Holder and individual associated person who is required to register
under Exchange Rule 3.6A, including, but not limited to, Market-Makers,
proprietary traders and individuals effecting transactions on behalf of
other broker-dealers.
---------------------------------------------------------------------------

    \12\ 15 U.S.C. 78f(c).
    \13\ 15 U.S.C. 78f(c)(3).
    \14\ 15 U.S.C. 78f(c)(3).
---------------------------------------------------------------------------

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 that is not necessary or appropriate in
furtherance of 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

    Because the foregoing proposed rule does not (i) significantly
affect the protection of investors or the public interest; (ii) impose
any significant burden on competition; and (iii) become operative for
30 days from the date on which it was filed, or such shorter time as
the Commission may designate if consistent with the protection of
investors and the public interest, provided that the self-regulatory
organization has given the Commission written notice of its intent to
file the proposed rule change at least five business days prior to the
date of filing of the proposed rule change or such shorter time as
designated by the Commission, the proposed rule change has become
effective pursuant to Section 19(b)(3)(A) of the Act \15\ and Rule 19b-
4(f)(6) thereunder.\16\
---------------------------------------------------------------------------

    \15\ 15 U.S.C. 78s(b)(3)(A).
    \16\ 17 C.F.R. [sic] 240.19b-4(f)(6).
---------------------------------------------------------------------------

    The Commission believes it is consistent with the public interest
to waive the 30-day operative delay. Waiver of the operative delay will
allow associated persons of CBOE firms who have passed examinations
deemed acceptable by the Commission to register in the appropriate
category and operate on CBOE without undue delay. Furthermore, it will
provide additional clarity to CBOE's rules that a Trading Permit Holder
that conducts only proprietary trading and has 25 or fewer registered
persons is required to have a minimum of one officer or partner who is
registered as a Proprietary Trader Principal (PT) but shall register
all persons with certain functions as PTs.
    At any time within 60 days of the filing of such proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-CBOE-2012-039 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-CBOE-2012-039. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549 on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of such filing also will be available
for inspection and copying at the principal office of CBOE. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-CBOE-2012-039 and should be
submitted on or before June 12, 2012.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\17\
---------------------------------------------------------------------------

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

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-12305 Filed 5-21-12; 8:45 am]
BILLING CODE 8011-01-P


Phone Log

EPA and Northeast Waste Management Officials Association

January 21, 2004

On January 21, 2004, EPA had a conference call with representatives of
NEWMOA to discuss the proposed definition of solid waste rulemaking. In
attendance:

Ingrid Rosencrantz		EPA/HWID

Ross Bunnell			Connecticut

Bill Cass			NEWMOA

Walt Argus			New Jersey

Karen Hale			Ohio

Chris Evans			Maine

Jim Miller			Massachusetts

Bill Sirault			Massachusetts

Holly Green			New Hampshire

Mark Moroukian		New York

John Miller			Vermont

NEWMOA met with EPA and expressed some of its comments on the proposed
rulemaking. In particular, they stated that they found the NAICS system
confusing but supported the on-site option mentioned in the preamble. In
addition, they were in favor of notification and generally supportive of
the proposal to codify the legitimacy criteria. They were somewhat
concerned about the enforcement implications of the proposal and of the
existence of some vague language.


[Federal Register Volume 86, Number 247 (Wednesday, December 29, 2021)]
[Notices]
[Pages 74180-74184]
[FR Doc No: 2021-28246]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-93851; File No. SR-NYSE-2021-73]

Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing of Proposed Rule Change To Amend Rule 37 To
Incorporate Standards of Conduct for the Exchange's Trading Floor

December 22, 2021.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that, on December 13, 2021, New York Stock Exchange LLC (``NYSE''
or the ``Exchange'') filed with the Securities and Exchange Commission
(the ``Commission'') the proposed rule change as described in Items I,
II, and III below, which Items have been prepared by the self-
regulatory organization. The Commission is publishing this notice to
solicit comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

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

    The Exchange proposes to amend Rule 37 to incorporate standards of
conduct for the Exchange's Trading Floor modeled on rules of the
Exchange's affiliates NYSE American LLC and NYSE Arca, Inc., and to add
amended Rule 37 to the list of minor rule violations in Rule 9217. The
proposed rule change is available on the Exchange's website at
www.nyse.com, at the principal office of the Exchange, and at the
Commission's Public Reference Room.

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

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

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

1. Purpose
    The Exchange proposes to amend Rule 37 (Visitors) to incorporate
standards of conduct for the Exchange's Trading Floor modeled on the
rules of the Exchange's affiliates NYSE American LLC (``NYSE
American'') and NYSE Arca, Inc. (``NYSE Arca''), and to add amended
Rule 37 to the list of minor rule violations in Rule 9217.
Background
    Rule 37 currently provides that visitors to the Floor shall not be
admitted to the Floor of the Exchange except by permission of the
Exchange. Historically, the behavior and conduct of members \4\ on the
trading Floor was regulated by Floor Conduct and Safety Guidelines
administered by NYSE Floor Officials. The NYSE eliminated the role and
function of NYSE Floor Officials earlier this year.\5\
---------------------------------------------------------------------------

    \4\ Rule 2(a) states that the term ``member,'' when referring to
a natural person, means a natural person associated with a member
organization who has been approved by the Exchange and designated by
such member organization to effect transactions on the Floor or any
facility thereof.
    \5\ See Securities Exchange Act Release No. 92193 (June 16,
2021), 82 FR 32024 (June 23, 2021) (SR-NYSE-2020-105) (Order).
---------------------------------------------------------------------------

    NYSE American Rule 902NY (Admission and Conduct on the Options
Trading Floor) and NYSE Arca Rule 6.2-O (Admission to and Conduct on
the Options Trading Floor) specify standards of conduct and dress for
persons to follow while on the NYSE American and NYSE Arca options
trading floors as well requirements for trading floor badges. The rules
are substantially similar.
    NYSE American Rule 902NY(b) and NYSE Arca Rule 6.2-O(b) are titled
``Conduct on the Floor'' and provide that a permit holder may be fined
upon the determination of a Trading Official that the permit holder's
conduct on the options trading floor was such as to impair the
maintenance of a fair and orderly market, or to impair public
confidence in the operations of the exchange. The provisions of NYSE
American Rule 902NY(b) and NYSE Arca Rule 6.2-O(b) also apply to a
permit holder's failure to adequately supervise an employee to ensure
his or her compliance with this rule. Permit holders adversely affected
by a determination made under these rules may obtain review thereof
consistent with other NYSE American and NYSE Arca rules, as applicable.
However, fines imposed by a Trading Official under those rules do not
preclude further disciplinary action by the respective exchanges.
    Under NYSE American Rule 902NY(c) and NYSE Arca Rule 6.2-O(c)
titled ``Standards of Dress and Conduct,'' all permit holders are
required to act in a manner consistent with a fair and orderly market
and with the maintenance of public confidence in the respective
exchanges. Under the rules, all persons on the options trading floors
must comply with certain standards of dress and conduct, as follows.
NYSE American Rule 902NY(c)(1) and NYSE Arca Rule 6.2-O(c)(1) provide
that all persons on the options trading floor, whether permit holders,
employees of permit holders or visitors, shall at all times, whether
prior to, during or after trading sessions, be dressed in a manner
appropriate for business purposes and in accordance with good taste and
professional standards. The rules provide that the term ``good taste''
shall be interpreted in a conservative manner. In addition, under the
rules, the following requirements and prohibitions shall be observed:

     Personal attire must be neat, clean and presentable.
     All persons must wear trading jackets and/or suit or sport
coats while present on the options trading floors.
     Each exchange may impose additional standards of dress or
otherwise modify these standards of dress by means of a written policy
that will be distributed to permit holders.
    NYSE American Rule 902NY(c)(2)(A) and NYSE Arca Rule 6.2-O(c)(2)(A)
specify that all persons on the trading floors are required to conduct
themselves in accordance with a seemly and professional standard of
behavior. No person while on the options trading floor shall:
     Engage in any act or practice that may be detrimental to
the interest or welfare of the exchange (NYSE American Rule
902NY(c)(2)(A)(i) and NYSE Arca Rule 6.2-O(c)(2)(A)(i)); or
     engage in any act or practice that may serve to disrupt or
hinder the ordinary and efficient conduct of business (NYSE American
Rule 902NY(c)(2)(A)(ii) and NYSE Arca Rule 6.2-O(c)(2)(A)(ii)); or
     engage in any act or practice that may serve to jeopardize
the safety or welfare of any other individual (NYSE American Rule
902NY(c)(2)(A)(iii) and NYSE Arca Rule 6.2-O(c)(2)(A)(iii)); or
     act in a disorderly manner, which includes, but is not
limited to, the use of abusive or indecorous language (NYSE American
Rule 902NY(c)(2)(A)(iv) and NYSE Arca Rule 6.2-O(c)(2)(A)(iv)).
    NYSE American Rule 902NY(c)(2)(B) and NYSE Arca Rule 6.2-O(c)(2)(B)
further provide that food or drink may be permitted at the discretion
of the exchange and that alcoholic beverages may not be consumed on the
trading floor at any time.
    Under NYSE American Rule 902NY(c)(2)(C) and NYSE Arca Rule 6.2-
O(c)(2)(C), smoking in any form, any kind of tobacco use, or any
expectorating on the trading floor is prohibited. The prohibitions NYSE
American Rule 902NY(c)(2)(C) and NYSE Arca Rule 6.2-O(c)(2)(C) apply at
all times whether or not the floors are in session.
    NYSE American Rule 902NY(c)(2)(D) and NYSE Arca Rule 6.2-O(c)(2)(D)
prohibit running on the floor, which means any movement at a degree of
speed which may disrupt other occupants of the trading floor.
    NYSE American Rule 902NY(c)(2)(E) and NYSE Arca Rule 6.2-O(c)(2)(E)
prohibit standing on chairs, furniture, booths, ladders, stools and
similar items.
    NYSE American Rule 902NY(c)(2)(F) and NYSE Arca Rule 6.2-O(c)(2)(F)
provides that no object of any kind may be placed in the trading post
areas if it could obstruct the flow of people in or out of the trading
crowd.
    Finally, NYSE American Rule 902NY(d)(1) and NYSE Arca Rule 6.2-
O(d)(1) provide that admission to the trading floors is by exchange
issued badge only and that, while on the trading floor, all persons
must at all times display appropriate badges. The rules further provide
that authorized persons seeking admission to the floor without a badge
must show proper identification and obtain a temporary badge from the
Security Office, and that permit holders may be subject to a processing
fee related to the issuance of a temporary access badge. NYSE American
Rule 902NY(d)(2) and NYSE Arca Rule 6.2-O(d)(2) govern withdrawal of
trading floor badges.
Proposed Rule Change
Amended Rule 37
    The Exchange proposes to revise Rule 37 to add to NYSE Rules the
standards for conduct, dress and trading badges contained in NYSE
American Rule 902NY and NYSE Arca Rule 6.2-O, with certain
modifications as described below, and to amend Rule 9217 to provide for
minor rule fines for violations of those standards. The proposed rule
change would align the Exchange's rules with those of its affiliates as
it relates to both the standards members accessing and working on the
Floor must follow and the application of minor rule fines for
violations of those standards.\6\
---------------------------------------------------------------------------

    \6\ The term ``Floor'' is defined in NYSE Rule 6 to mean ``the
trading Floor of the Exchange and the premises immediately adjacent
thereto, such as the various entrances and lobbies of the 11 Wall
Street, 18 New Street, 8 Broad Street, 12 Broad Street and 18 Broad
Street Buildings, and also means the telephone facilities available
in these locations.'' The term ``Trading Floor'' is defined in NYSE
Rule 6A to mean ``the restricted-access physical areas designated by
the Exchange for the trading of securities, commonly known as the
`Main Room' and the `Buttonwood Room.''' The NYSE Trading Floor does
not include: ``(i) the areas in the ``Buttonwood Room'' designated
by the Exchange where NYSE American-listed options are traded,
which, for the purposes of the Exchange's Rules, shall be referred
to as the ``NYSE American Options Trading Floor'' or (ii) the
physical area within fully enclosed telephone booths located in 18
Broad Street at the Southeast wall of the Trading Floor.'' The areas
designated by the Exchange where NYSE American-listed options are
traded are subject to NYSE American Rule 902NY, described above.
---------------------------------------------------------------------------

    To effectuate this change, the Exchange proposes the following
amendments to Rule 37.
    First, Rule 37 would be renamed ``Admission and Conduct on the
Trading Floor'' similar to the NYSE American and NYSE Arca options
rules, with a difference to use the term ``Trading Floor.''
    Second, the existing text of Rule 37 governing admissions would be
relocated to a new subsection (a) titled ``Admission,'' once again
along the lines of the NYSE American and NYSE Arca options rules.\7\
The existing text would be unchanged.
---------------------------------------------------------------------------

    \7\ See, e.g., NYSE American Rule 902NY(e).
---------------------------------------------------------------------------

    Third, the Exchange would adopt a new subsection (b) titled
``Conduct on the Trading Floor'' that would be substantially similar to
NYSE American Rule 902NY(b) and NYSE Arca Rule 6.2-O(b). The proposed
rule would provide that while on the Trading Floor, all members are
required to act in a manner consistent with a fair and orderly market
and with the maintenance of public confidence in the Exchange.\8\ The
proposed rule would further provide that upon the determination that a
member's conduct on the Floor is such as to impair the maintenance of a
fair and orderly market, or to impair public confidence in the
operations of the Exchange, or that a member has otherwise violated the
proposed rule, a member may be disciplined in accordance with the Rule
9000 Series, the Exchange's disciplinary rules. Proposed Rule 37(b)
would also apply to a member's failure to adequately supervise an
employee or guest of the member to ensure compliance with the proposed
rule. Unlike the NYSE American and NYSE Arca rules, the Exchange would
explicitly refer to failure to adequately supervise a guest of the
member in the proposed rule. Because violations of this Rule would be
subject to discipline pursuant to the Rule 9000 Series, the Exchange
proposes to include the phrase ``or that a member has otherwise
violated this rule'' and exclude a statement that that fines imposed
thereunder would not preclude further disciplinary action by the
Exchange. Finally, unlike the NYSE American and NYSE Arca rules, the
proposed rule would omit any reference to Exchange Trading Officials,
who are not regulatory employees, unlike their options market
counterparts. As proposed, Rule 37 would be administered by the
Exchange's regulatory staff.
---------------------------------------------------------------------------

    \8\ The first sentence of proposed Rule 37(b) would be based on
NYSE American Rule 902NY(c) and NYSE Arca Rule 6.2-O(c).
---------------------------------------------------------------------------

    Fourth, the Exchange proposes a new subsection (c) titled
``Standards of Dress and Conduct'' that is also substantially similar
to NYSE American Rule 902NY(c) and NYSE Arca Rule 6.2-O(c).

Proposed Rule 37(c) would provide that all persons on the Floor must
comply with the standards of dress and conduct set forth in proposed
Rule 37(c)(1)(A)-(C), as follows.
    Proposed Rule 37(c)(1) would be titled ``Standards of Dress'' and
would provide that all persons on the Floor, whether members, employees
of member organizations or visitors, must at all times, whether prior
to, during or after trading sessions, be dressed in a manner
appropriate for business purposes and in accordance with good taste and
professional standards. Like the NYSE American and NYSE Arca rules,
proposed Rule 37(c)(1) would provide that the term ``good taste'' will
be interpreted in a conservative manner. In addition, proposed Rule
37(c)(1) would set forth the following requirements and prohibitions:
     Proposed Rule 37(c)(1)(A) would provide that personal
attire must be neat, clean and presentable.
     Proposed Rule 37(c)(1)(B) would provide that all members
and employees of member organizations must wear trading jackets and/or
suit or sport coats while present on the Floor.
     Proposed Rule 37(c)(1)(C) would provide that the Exchange
may impose additional standards of dress or otherwise modify these
standards of dress by means of a written policy that will be
distributed to all members and member organizations.
    Proposed Rule 37(c)(2) would be titled ``Standards of Conduct.''
Proposed subsection (A) of Rule 37(c)(2) would provide that all persons
on the Floor are required to conduct themselves in accordance with a
seemly and professional standard of behavior. Specifically, the
proposed Rule would specify that no person while on the Floor shall:
     Engage in any act or practice that may be detrimental to
the interest or welfare of the Exchange (proposed Rule 37(c)(2)(A)(i));
or
     engage in any act or practice that may serve to disrupt or
hinder the ordinary and efficient conduct of business (proposed Rule
37(c)(2)(A)(ii)); or
     engage in any act or practice that may serve to jeopardize
the safety or welfare of any other individual (proposed Rule
37(c)(2)(A)(iii)); or
     act in a disorderly manner, which includes, but is not
limited to, use of abusive or indecorous language and the display or
circulation of written material or graphic images that are harassing,
inappropriate, offensive, and/or lewd (proposed Rule 37(c)(2)(A)(iv)).
    Proposed subsection (B) of Rule 37(c)(2) would provide that entry
and consumption of food or drink on the Trading Floor may be permitted
at the discretion of the Exchange and that food or drink should only be
consumed at the booth or post. Finally, proposed Rule 37(c)(2)(B) would
provide that alcoholic beverages may not be consumed on the Trading
Floor during business hours as defined in Rule 7.1 (Hours of Business).
The proposed Rule differs slightly from the NYSE American and NYSE Arca
rules, which prohibit consumption of alcoholic beverages at any time.
    Proposed subsection (C) of Rule 37(c)(2) would prohibit smoking in
any form, any kind of tobacco use, or any expectorating on the Floor
and clarify that this prohibition would apply at all times. The
proposed Rule is identical to the NYSE American and NYSE Arca versions.
    Proposed subsection (D) of Rule 37(c)(2) would prohibit running on
the Trading Floor, which the proposed Rule would define as any movement
at a degree of speed which may disrupt other occupants of the Floor.
Once again, the proposed Rule is identical to the NYSE American and
NYSE Arca versions.
    Proposed subsection (E) of Rule 37(c)(2) would prohibit standing on
chairs, furniture, booths, ladders, stools and similar items. The
proposed Rule is the same as NYSE American Rule 902NY(c)(2)(E) and NYSE
Arca Rule 6.2-O(c)(2)(E).
    Proposed subsection (F) of Rule 37(c)(2) would provide that no
object of any kind may be placed in the trading post areas, including
all chairs, stools or other furniture, if it could obstruct the flow of
people in or out of the Trading Floor. The Exchange determined to
exclude the reference to the trading crowd that appears in the NYSE
American and NYSE Arca rules.
    Fifth and finally, the Exchange proposes a new subsection (d) to
Rule 37 titled ``Trading Floor Badges.'' Rule 303 (Limitation on Access
to Floor) currently requires members on the Floor to be provided with a
badge that must be worn while on the Floor.\9\ Proposed Rule 37(d)
would supplement Rule 303 by specifying, similar to NYSE American Rule
902NY(d) and NYSE Arca Rule 6.2-O(d), that admission to the Floor will
be by Exchange-issued badge only and that Exchange-issued badges must
be appropriately displayed, with the photo visible, at all times while
on the Floor. The proposed Rule would also specify that use of an
Exchange-issued badge belonging to another member or Floor employee to
enter or exit the Floor is prohibited. In addition, the proposed Rule
would provide that authorized persons seeking admission to the Floor
without a badge must show proper identification and obtain a temporary
badge from the Security Office. Finally, proposed Rule 37(d) would
provide that visitor's badges are not acceptable identification cards
for Floor employees.
---------------------------------------------------------------------------

    \9\ Rule 303(a) provides that members who execute orders on the
Floor must be provided with an identification badge and must wear
the same while on the Floor, and that every member's badge must
contain his or her name and a number and the name of his or her
member organization.
---------------------------------------------------------------------------

Minor Rule Fines
    Rule 9217 sets forth the list of rules under which a member
organization or covered person may be subject to a fine under Rule
9216(b). Rule 9217 permits the Exchange to impose a fine of up to
$5,000 on any member or covered person for a minor violation of an
eligible rule.
    The Exchange proposes to amend Rule 9217 to add the proposed Rule
37 provisions governing floor decorum, disruptive actions involving
physical contact while on the Floor, use of abusive language, rules on
visitors, abuse of Exchange property, and misuse of Exchange-issued
badge or identification to the list of rules in Rule 9217 eligible for
disposition pursuant to a minor fine under Rule 9216(b). Each of these
violations of NYSE American Rule 902NY and NYSE Arca Rule 6.2-O are
eligible for minor rule fines under those markets' respective versions
of Rule 9217.\10\
---------------------------------------------------------------------------

    \10\ See NYSE American Rule 9217(i)(14) (violation of rules
related to floor decorum); (i)(15) (disruptive action involving
physical contact while on the Trading Floor); (i)(16) (ATP Holder
used abusive language on the trading floor); (i)(20) (violation of
rules on visitors to the options floor); (i)(21) (misuse of ATP
Holder badge or identification); and (i)(25) (abusing exchange
property); NYSE Arca Rule 10.9217(e)(16) (violation of rules related
to floor decorum); (e)(17) (disruptive action involving physical
contact while on the trading floor); (e)(19) (OTP Holder used
abusive language on the trading floor); (e)(31) (violation of rules
on visitors to the options floor); (e)(32) (misuse of OTP Holder
badge or OTP Firm identification); and (e)(36) (abusing exchange
property).
---------------------------------------------------------------------------

    The Exchange believes that the proposed changes would have the
immediate effect of aligning the Exchange's rules regarding Floor
conduct and decorum with the rules of its affiliates that also have
trading floors. Moreover, the Exchange believes that the proposed rule
change will strengthen the Exchange's ability to carry out its
oversight and enforcement responsibilities in cases where full
disciplinary proceedings are unwarranted in view of the minor nature of
the particular violation.

2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\11\ in general, and furthers the
objectives of Section 6(b)(5) of the Act,\12\ in particular, in that it
is designed to prevent fraudulent and manipulative acts and practices,
to promote just and equitable principles of trade, to foster
cooperation and coordination with persons engaged in facilitating
transactions in securities, and to remove impediments to and perfect
the mechanism of a free and open market and a national market system.
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78f(b).
    \12\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Exchange believes that the proposed rule change would remove
impediments to and perfect the mechanism of a free and open market and
a national market system by adopting the same standards as its
affiliates that members accessing and working on a trading floor must
follow. By providing greater harmonization between Exchange rules and
those of its affiliates that also have trading floors regarding access,
conduct and decorum, the proposed rule change will foster cooperation
and coordination with persons engaged in facilitating transactions in
securities and will remove impediments to and perfect the mechanism of
a free and open market and a national market system.
    Moreover, by adopting the same applicable minor rule fines for
violations of those standards as its affiliates, the Exchange would
promote regulatory consistency. Minor rule fines provide a meaningful
sanction for minor or technical violations of rules when the conduct at
issue does not warrant stronger, immediately reportable disciplinary
sanctions. The inclusion of a rule in the Rule 9217 does not minimize
the importance of compliance with the rule, nor does it preclude the
Exchange from choosing to pursue violations of eligible rules through
formal disciplinary action if the nature of the violations or prior
disciplinary history warrants more significant sanctions. Rather, the
Exchange believes that the proposed rule change will strengthen the
Exchange's ability to carry out its oversight and enforcement
responsibilities in cases where full disciplinary proceedings are
unwarranted in view of the minor nature of the particular violation.
The option to impose a minor rule sanction gives the Exchange
additional flexibility to administer its enforcement program in the
most effective and efficient manner while still fully meeting the
Exchange's remedial objectives in addressing violative conduct. The
proposed rule change is thus designed to prevent fraudulent and
manipulative acts and practices because it will provide the Exchange
the ability to issue a minor rule fine for violations of the dress,
conduct and decorum requirements set forth in proposed Rule 37 where a
more formal disciplinary action may not be warranted or appropriate.
    The Exchange further believes that the proposed amendments to Rule
9217 are consistent with Section 6(b)(6) of the Act,\13\ which provides
that members and persons associated with members shall be appropriately
disciplined for violation of the provisions of the rules of the
exchange, by expulsion, suspension, limitation of activities,
functions, and operations, fine, censure, being suspended or barred
from being associated with a member, or any other fitting sanction. As
noted, the proposed rule change would provide the Exchange ability to
sanction minor or technical violations of proposed Rule 37 pursuant to
the Exchange's rules.
---------------------------------------------------------------------------

    \13\ 15 U.S.C. 78f(b)(6).
---------------------------------------------------------------------------

    Finally, the Exchange also believes that the proposed changes are
designed to provide a fair procedure for the disciplining of members
and persons associated with members, consistent with Sections 6(b)(7)
and 6(d) of the Act.\14\ Rule 9217 does not preclude a member
organization or covered person from contesting an alleged violation and
receiving a hearing on the matter with the same procedural rights
through a litigated disciplinary proceeding.
---------------------------------------------------------------------------

    \14\ 15 U.S.C. 78f(b)(7) and 78f(d).
---------------------------------------------------------------------------

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

    In accordance with Section 6(b)(8) of the Act,\15\ the Exchange
believes that the proposed rule change would not impose any burden on
competition that is not necessary or appropriate in furtherance of the
purposes of the Act. The proposed rule change is not designed to
address any competitive issues but rather relates to the adoption of
rules regarding access, conduct and decorum on the Exchange's trading
floor that are consistent with those of the Exchange's affiliates that
also have trading floors, and providing applicable minor rule fines for
violations of those standards, thereby strengthening the Exchange's
ability to carry out its oversight and enforcement functions and deter
potential violative conduct.
---------------------------------------------------------------------------

    \15\ 15 U.S.C. 78f(b)(8).
---------------------------------------------------------------------------

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

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

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

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

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include
File Number SR- NYSE-2021-73 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-NYSE-2021-73. 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-NYSE-2021-73 and should be
submitted on or before January 19, 2022.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\16\
---------------------------------------------------------------------------

    \16\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-28246 Filed 12-28-21; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 76, Number 103 (Friday, May 27, 2011)]
[Rules and Regulations]
[Pages 30835-30837]
[FR Doc No: 2011-13250]

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

ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 721

[EPA-HQ-OPPT-2008-0296; FRL-8858-1]
RIN 2070-AJ41

Requests for Modification or Revocation of Toxic Substances
Control Act Section 5 Significant New Use Notice Requirements; Revision
to Notification Regulations

AGENCY: Environmental Protection Agency (EPA).

ACTION: Direct final rule.

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

SUMMARY: This direct final rule amends the procedures for requests for
modification or revocation of Toxic Substances Control Act (TSCA)
section 5 significant new use notification (SNUN) requirements by
establishing electronic submission requirements. EPA issued a final
rule in the Federal Register of January 6, 2010, introducing electronic
reporting requirements for TSCA section 5 submissions and supporting
documents. However, the regulatory text inadvertently did not include
amendments to the reporting requirements for submissions of requests
for modifications or revocations of SNUN requirements. This direct
final rule includes the amendment that was originally intended by EPA.

DATES: This direct final rule is effective July 26, 2011 without
further notice, unless EPA receives adverse comment on or before June
27, 2011. If EPA receives adverse comments on this action, EPA will
withdraw the direct final rule before its effective date. EPA will then
issue a proposed rule, providing a 30-day period for public comment.

ADDRESSES: EPA has established a docket for this action under docket
identification (ID) number EPA-HQ-OPPT-2008-0296. All documents in the
docket are listed in the docket index available at http://www.regulations.gov. Although listed in the index, some information is
not publicly available, e.g., Confidential Business Information (CBI)
or other information whose disclosure is restricted by statute. Certain
other material, such as copyrighted material, is not placed on the
Internet and will be publicly available only in hard copy form.
Publicly available docket materials are available in the electronic
docket at http://www.regulations.gov, or, if only available in hard
copy, at the OPPT Docket. The OPPT Docket is located in the EPA Docket
Center (EPA/DC) at Rm. 3334, EPA West Bldg., 1301 Constitution Ave.,
NW., Washington, DC. The EPA/DC Public Reading Room hours of operation
are 8:30 a.m. to 4:30 p.m., Monday through Friday, excluding legal
holidays. The telephone number of the EPA/DC Public Reading Room is
(202) 566-1744, and the telephone number for the OPPT Docket is (202)
566-0280. Docket visitors are required to show photographic
identification, pass through a metal detector, and sign the EPA visitor
log. All visitor bags are processed through an X-ray machine and
subject to search. Visitors will be provided an EPA/DC badge that must
be visible at all times in the building and returned upon departure.

FOR FURTHER INFORMATION CONTACT: For technical information contact:
Greg Schweer, Chemical Control Division (7405M), Office of Pollution
Prevention and Toxics, Environmental Protection Agency, 1200
Pennsylvania Ave., NW., Washington, DC 20460-0001; telephone number:
(202) 564-8469; e-mail address<EMAIL_ADDRESS>    For general information contact: The TSCA-Hotline, ABVI-Goodwill,
422 South Clinton Ave., Rochester, NY 14620; telephone number: (202)
554-1404; e-mail address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. Does this action apply to me?

    You may be affected by this action if you manufacture, import, or
process chemicals for commercial purposes. Potentially affected
entities may include, but are not limited to:
     Manufacturers, importers, and processors of chemical
substances or mixtures, e.g., chemical manufacturing and processing and
petroleum refineries (NAICS codes 325 and 324110).
    This listing is not intended to be exhaustive, but rather provides
a guide for readers regarding entities likely to be affected by this
action. Other types of entities not listed in this unit could also be
affected. The North American Industrial Classification System (NAICS)
codes have been provided to assist you and others in determining
whether this action might apply to certain entities. To determine
whether you or your business may be affected by this action, you should
carefully examine the applicability provisions in 40 CFR part 721 for
TSCA section 5-related obligations. If you have any questions regarding
the applicability of this action to a particular entity, consult the
technical person listed under FOR FURTHER INFORMATION CONTACT.

II. Background

A. What action is the agency taking?

    This action amends 40 CFR 721.185(b)(1), which sets forth
requirements for requesting modification or revocation of SNUN
requirements. This provision requires persons who request modification
of SNUN requirements for a particular chemical substance to send the
request in writing to EPA. When developing the TSCA section 5
electronic reporting requirements published in the Federal Register
issue of January 6, 2010 (75 FR 773) (FRL-8794-5), EPA had intended to
include these modification requests. In the document proposing
electronic reporting of TSCA section 5 submissions published in the
Federal Register issue of December 22, 2008 (73 FR 78261) (FRL-8395-8),
EPA included regulatory text to require electronic reporting for
modification and revocation requests regarding significant new use
reporting requirements for microorganisms under 40 CFR 725.984(b)(1),
containing language almost identical to the regulatory language
included in this direct final rule. Discussion in the preamble of the
final rule regarding types of submissions that would continue to be
required in hard copy did not include modification and revocation
requests under Sec.  721.185(b)(1). No comments were received regarding
40 CFR 725.984(b)(1), and EPA finalized this change. However, the
corresponding change to the analogous provision in Sec.  721.185(b)(1)
was inadvertently omitted from both the proposed and final rule. This
direct final rule includes this change.

B. What is the agency's authority for taking this action?

    Section 5(a)(1)(A) of TSCA requires persons to notify EPA at least
90 days before manufacturing a new chemical substance for commercial
purposes (under TSCA manufacture includes import). Section 3(9) of TSCA
defines a ``new chemical substance'' as any substance that is not on
the TSCA Inventory of Chemical Substances compiled by EPA under section
8(b) of TSCA. Section 5(a)(2) of TSCA authorizes EPA to determine that
a use of a chemical substance is a ``significant new use.'' EPA must
make this determination by rule after considering all relevant factors,
including those listed in TSCA section 5(a)(2). Once EPA determines
that a use of a chemical

substance is a significant new use, TSCA section 5(a)(1)(B) requires
persons to submit a notice to EPA at least 90 days before manufacturing
or processing the chemical substance for that use.
    The Government Paperwork Elimination Act (GPEA) requires Federal
agencies to provide for the:
    1. Option of electronic maintenance, submission, or disclosure of
information, when practicable as a substitute for paper.
    2. Use and acceptance of electronic signatures, when practicable.
EPA's Cross-Media Electronic Reporting Regulation (CROMERR) (40 CFR
part 3), published in the Federal Register issue of October 13, 2005
(70 FR 59848) (FRL-7977-1), provides that any requirement in title 40
of the CFR to submit a report directly to EPA can be satisfied with an
electronic submission that meets certain conditions once the Agency
publishes a document that electronic document submission is available
for that requirement.

C. Why is this notice issued as a final rule?

    Section 553 of the Administrative Procedure Act (APA), 5 U.S.C.
553(b)(3)(B), provides that, when an agency for good cause finds that
notice and public procedure are impracticable, unnecessary, or contrary
to the public interest, the agency may issue a final rule without
providing notice and an opportunity for public comment. EPA has
determined that there is good cause for making this rule final without
prior proposal and opportunity for comment, for the reasons mentioned
in Unit II.A. EPA finds that this constitutes good cause under 5 U.S.C.
533(b)(3)(B).

III. Statutory and Executive Order Reviews

    This action amends an existing regulation to correct an omission in
the final rule published in the Federal Register of January 6, 2010,
introducing electronic reporting of TSCA section 5 submissions and
supporting documents; it does not otherwise amend or impose any other
requirements. This action is not a ``significant regulatory action''
under Executive Order 12866, entitled Regulatory Planning and Review
(58 FR 51735, October 4, 1993). Further, this direct final rule does
not impose new or change any information collection burden that
requires additional review by the Office of Management and Budget (OMB)
under the provisions of the Paperwork Reduction Act of 1995 (44 U.S.C.
3501 et seq.). The information collection activities contained in the
regulations are already approved under OMB control numbers 2070-0012
and 2070-0038. An agency may not conduct or sponsor, and a person is
not required to respond to a collection of information unless it
displays a currently valid OMB control number. The OMB control numbers
for EPA's regulations in 40 CFR are listed in 40 CFR part 9 and on
corresponding collection instruments, as applicable.
    Pursuant to section 605(b) of the Regulatory Flexibility Act (5
U.S.C. 601 et seq.), the Agency hereby certifies that this direct final
rule will not have a significant adverse economic impact on a
substantial number of small entities. The correction is not expected to
have any adverse economic impacts on affected entities, regardless of
their size. This determination is consistent with that made for the
final rule, which appears in Unit VII.C. of the preamble to the January
6, 2010 final rule.
    State, local, and tribal governments were not expected to be
affected by the January 6, 2010 final rule (see Unit VII.D. through F.
of the preamble to that action), and, similarly, this direct final rule
is not expected to affect these governments. Accordingly, pursuant to
Title II of the Unfunded Mandates Reform Act (UMRA) (2 U.S.C. 1531-
1538), EPA has determined that this action is not subject to the
requirements in UMRA sections 202 and 205 because it does not contain a
Federal mandate that may result in expenditures of $100 million or more
for State, local, and tribal governments, in the aggregate, or for the
private sector in any 1 year. In addition, this action does not
significantly or uniquely affect small governments or impose a
significant intergovernmental mandate, as described in UMRA sections
203 and 204. For the same reasons, EPA has determined that this direct
final rule does not have ``federalism implications'' as specified in
Executive Order 13132, entitled Federalism (64 FR 43255, August 10,
1999), because it would not have substantial direct effects on the
States, on the relationship between the national government and the
States, or on the distribution of power and responsibilities among the
various levels of government, as specified in the Order. Thus,
Executive Order 13132 does not apply to this direct final rule. Nor
does it have ``tribal implications'' as specified in Executive Order
13175, entitled Consultation and Coordination with Indian Tribal
Governments (65 FR 22951, November 9, 2000). Thus, Executive Order
13175 does not apply to this action.
    Since this action is not economically significant under Executive
Order 12866, it is not subject to Executive Order 13045, entitled
Protection of Children from Environmental Health Risks and Safety Risks
(62 FR 19885, April 23, 1997), and Executive Order 13211, entitled
Actions Concerning Regulations that Significantly Affect Energy Supply,
Distribution, or Use (66 FR 28355, May 22, 2001). In addition, EPA
interprets Executive Order 13045 as applying only to those regulatory
actions that concern health or safety risks, which is not the case in
this direct final rule.
    This action does not involve technical standards that would require
the consideration of voluntary consensus standards pursuant to section
12(d) of the National Technology Transfer and Advancement Act (NTTAA)
(15 U.S.C. 272).
    This action does not have an adverse impact on the environmental
and health conditions in low-income and minority communities.
Therefore, this action does not involve special consideration of
environmental justice related issues as specified in Executive Order
12898, entitled Federal Actions to Address Environmental Justice in
Minority Populations and Low-Income Populations (59 FR 7629, February
16, 1994).

IV. Congressional Review Act

    The Congressional Review Act, 5 U.S.C. 801 et seq., generally
provides that before a rule may take effect, the Agency promulgating
the rule must submit a rule report to each House of the Congress and
the Comptroller General of the United States. EPA will submit a report
containing this rule and other required information to the U.S. Senate,
the U.S. House of Representatives, and the Comptroller General of the
United States prior to publication of the rule in the Federal Register.
This rule is not a ``major rule'' as defined by 5 U.S.C. 804(2).

List of Subjects in 40 CFR Part 721

    Environmental protection, Chemicals, Hazardous substances,
Reporting and recordkeeping requirements.

    Dated: May 12, 2011.
Stephen A. Owens,
Assistant Administrator, Office of Chemical Safety and Pollution
Prevention.

    Therefore, 40 CFR chapter I is amended as follows:

PART 721--[AMENDED]

0
1. The authority citation for part 721 continues to read as follows:

    Authority: 15 U.S.C. 2604, 2607, and 2625(c).

0
2. Revise paragraph (b)(1) of Sec.  721.185 to read as follows:

Sec.  721.185  Limitation or revocation of certain notification
requirements.

* * * * *
    (b) * * *
    (1) Any affected person may request modification or revocation of
significant new use notification requirements for a substance that has
been added to subpart E of this part using the procedures described in
Sec.  721.160 or Sec.  721.170 by writing to the Director of the Office
of Pollution Prevention and Toxics, and stating the basis for such
request. The request must be accompanied by the information sufficient
to support the request. Persons submitting a request to EPA under this
part, unless allowed by 40 CFR 720.40(a)(2)(i), (ii), or (iii), must
submit the request to EPA via EPA's Central Data Exchange (CDX) using
EPA-provided e-PMN reporting software in the manner set forth in 40 CFR
720.40(a)(2). See 40 CFR 720.40(a)(2)(iv) for information on how to
obtain the e-PMN software. Support documents related to these requests
must also be submitted to EPA in the manner set forth in 40 CFR
720.40(a)(2)(i), (ii), or (iii). Paper requests must be submitted
either via U.S. mail to the Document Control Office (DCO) (7407M),
Office of Pollution Prevention and Toxics, Environmental Protection
Agency, 1200 Pennsylvania Ave., NW., Washington, DC 20460-0001; ATTN:
Request to Amend SNUR or submitted via courier to the Environmental
Protection Agency, OPPT Document Control Office (DCO), EPA East Bldg.,
1201 Constitution Ave., NW., Rm. 6428, Washington, DC 20004; ATTN:
Request to Amend SNUR. Optical discs containing electronic requests
must be submitted by courier to the Environmental Protection Agency,
OPPT Document Control Office (DCO), EPA East Bldg., 1201 Constitution
Ave., NW., Rm. 6428, Washington, DC 20004; ATTN: Request to Amend SNUR.
* * * * *
[FR Doc. 2011-13250 Filed 5-26-11; 8:45 am]
BILLING CODE 6560-50-P