[Federal Register Volume 76, Number 219 (Monday, November 14, 2011)]
[Notices]
[Page 70437]
[FR Doc No: 2011-29250]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[ Project No. 12737-002]

Jordan Hydroelectric Limited Partnership; Notice of Availability
of Final Environmental Assessment

    In accordance with the National Environmental Policy Act of 1969
and the Federal Energy Regulatory Commission's (Commission)
regulations, 18 CFR part 380, the Office of Energy Projects has
reviewed the application for an original license for the 3.7-megawatt
(MW) Gathright Hydroelectric Project located on the Jackson River in
Alleghany County, Virginia, at the U.S. Army Corps of Engineers' (Corp)
Gathright Dam and has prepared a final environmental assessment (EA).
In the final EA, Commission staff analyze the potential environmental
effects of licensing the project and conclude that issuing a license
for the project, with appropriate environmental measures, would not
constitute a major federal action significantly affecting the quality
of the human environment.
    A copy of the final EA is on file with the Commission and is
available for public inspection. The final EA may also be viewed on the
Commission's Web site at http://www.ferc.gov using the ``eLibrary''
link. Enter the docket number excluding the last three digits in the
docket number field to access the document. For assistance, contact
FERC Online Support at<EMAIL_ADDRESS>or toll-free at (866)
208-3676, or for TTY,<PHONE_NUMBER>.
    You may also register online at http://www.ferc.gov/docs-filing/esubscription.asp to be notified via email of new filings and issuances
related to this or other pending projects. For assistance, contact FERC
Online Support.
    For further information contact Allyson Conner at<PHONE_NUMBER>.

    Dated: November 4, 2011.
Kimberly D. Bose,
Secretary.
[FR Doc. 2011-29250 Filed 11-10-11; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 81, Number 98 (Friday, May 20, 2016)]
[Notices]
[Pages 31973-31974]
[FR Doc No: 2016-11872]

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SECURITIES AND EXCHANGE COMMISSION

Proposed Collection; Comment Request

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

Extension:
    Rule 15Ba2-5, SEC File No. 270-91, OMB Control No. 3235-0088.

    Notice is hereby given that pursuant to the Paperwork Reduction Act
of 1995 (``PRA'') (44 U.S.C. 3501 et seq.), the Securities and Exchange
Commission (``Commission'') is soliciting comments on the collection of
information provided for in Rule 15Ba2-5 (17 CFR 240.15Ba2-5)--
Registration of Fiduciaries, under the Securities Exchange Act of 1934
(15 U.S.C. 78a et seq.) (``Exchange Act''). The Commission plans to
submit this existing collection of information to the Office of
Management and Budget (``OMB'') for extension and approval.
    On July 7, 1976, effective July 16, 1976 (see 41 FR 28948, July 14,
1976), the Commission adopted Rule 15Ba2-5 under the Exchange Act to
permit a duly-appointed fiduciary to assume immediate responsibility
for the operation of a municipal securities dealer's business. Without
the rule, the fiduciary would not be able to assume operation until it
registered as a municipal securities dealer. Under the rule, the
registration of a municipal securities dealer is deemed to be the
registration of any executor, administrator, guardian, conservator,
assignee for the benefit of creditors, receiver, trustee in insolvency
or bankruptcy, or other fiduciary, appointed or qualified by order,
judgment, or decree of a court of competent jurisdiction to continue
the business of such municipal securities dealer, provided that such
fiduciary files with the Commission, within 30 days after entering upon
the performance of his duties, a statement setting forth as to such
fiduciary

substantially the same information required by Form MSD or Form BD. The
statement is necessary to ensure that the Commission and the public
have adequate information about the fiduciary.
    There is approximately 1 respondent per year that requires an
aggregate total of 4 hours to comply with this rule. This respondent
makes an estimated 1 annual response. Each response takes approximately
4 hours to complete. Thus, the total compliance burden per year is 4
burden hours. The approximate cost per hour is $20, resulting in a
total internal cost of compliance for the respondent of approximately
$80 (i.e., 4 hours x $20).
    Written comments are invited on: (a) Whether the proposed
collection of information is necessary for the proper performance of
the functions of the Commission, including whether the information
shall have practical utility; (b) the accuracy of the Commission's
estimates of the burden of the proposed collection of information; (c)
ways to enhance the quality, utility, and clarity of the information to
be collected; and (d) ways to minimize the burden of the collection of
information on respondents, including through the use of automated
collection techniques or other forms of information technology.
Consideration will be given to comments and suggestions submitted in
writing within 60 days of this publication.
    An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information under the PRA unless it
displays a currently valid OMB control number.
    Please direct your written comments to: Pamela Dyson, Director/
Chief Information Officer, Securities and Exchange Commission, c/o Remi
Pavlik-Simon, 100 F Street NE., Washington, DC 20549, or send an email
to<EMAIL_ADDRESS>
    Dated: May 16, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-11872 Filed 5-19-16; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: September 13, 2010 (Volume 75, Number 176)]
[Rules and Regulations]
[Page 55461-55462]
[DOCID:fr13se10-4]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. FAA-2010-0432; Directorate Identifier 2010-NM-001-AD;
Amendment 39-16430; AD 2010-19-02]
RIN 2120-AA64

Airworthiness Directives; Bombardier, Inc. Model DHC-8-200 and
DHC-8-300 Series Airplanes

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

ACTION: Final rule.

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SUMMARY: We are adopting a new airworthiness directive (AD) for the
products listed above. This AD results from mandatory continuing
airworthiness information (MCAI) originated by an aviation authority of
another country to identify and correct an unsafe condition on an
aviation product. The MCAI describes the unsafe condition as:

    During a recent production fuel system test, it was found that
all three flapper valves located in each collector tank did not
conform to the design requirements, due to the fact that a valve
spring was installed on the flapper hinge pin. This valve spring
should have been removed prior to installation of the valves.
* * * * *
    With the valve spring installed, the flapper valve is held
closed by the valve spring, preventing gravity feed. In the event of
scavenge system failure, the collector tank fuel level can no longer
be maintained, potentially leading to an in-flight engine shutdown.
* * * * *
    We are issuing this AD to require actions to correct the unsafe
condition on these products.

DATES: This AD becomes effective October 18, 2010.
    The Director of the Federal Register approved the incorporation by
reference of a certain publication listed in this AD as of October 18,
2010.

ADDRESSES: You may examine the AD docket on the Internet at http://
www.regulations.gov or in person at the U.S. Department of
Transportation, Docket Operations, M-30, West Building Ground Floor,
Room W12-140, 1200 New Jersey Avenue, SE., Washington, DC.

FOR FURTHER INFORMATION CONTACT: Kent Fredrickson, Aerospace Engineer,
Propulsion and Services Branch, ANE-173, FAA, New York Aircraft
Certification Office (ACO), 1600 Stewart Avenue, Suite 410, Westbury,
New York 11590; telephone<PHONE_NUMBER>; fax<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Discussion

    We issued a notice of proposed rulemaking (NPRM) to amend 14 CFR
part 39 to include an AD that would apply to the specified products.
That NPRM was published in the Federal Register on April 26, 2010 (75
FR 21530). That NPRM proposed to correct an unsafe condition for the
specified products. The MCAI states:

    During a recent production fuel system test, it was found that
all three flapper valves located in each collector tank did not
conform to the design requirements, due to the fact that a valve
spring was installed on the flapper hinge pin. This valve spring
should have been removed prior to installation of the valves.
    It was subsequently determined that this condition is restricted
to the 21 aircraft listed in the Applicability section above.
    With the valve spring installed, the flapper valve is held
closed by the valve spring, preventing gravity feed. In the event of
scavenge system failure, the collector tank fuel level can no longer
be maintained, potentially leading to an in-flight engine shutdown.
    In order to ensure adequate fuel transfer to the collector tank
at all times, this directive mandates a one-time [detailed]
inspection of each of the six flapper valves, removal of the valve
spring, if installed, and application of an identification mark on
each inspected valve.

    You may obtain further information by examining the MCAI in the AD
docket.

Comments

    We gave the public the opportunity to participate in developing
this AD. We received no comments on the NPRM or on the determination of
the cost to the public.

Conclusion

    We reviewed the available data and determined that air safety and
the public interest require adopting the AD as proposed.

Differences Between This AD and the MCAI or Service Information

    We have reviewed the MCAI and related service information and, in
general, agree with their substance. But we might have found it
necessary to use different words from those in the MCAI to ensure the
AD is clear for U.S. operators and is enforceable. In making these
changes, we do not intend to differ substantively from the information
provided in the MCAI and related service information.
    We might also have required different actions in this AD from those
in the MCAI in order to follow our FAA policies. Any such differences
are highlighted in a NOTE within the AD.

Costs of Compliance

    We estimate that this AD will affect 4 products of U.S. registry.
We also estimate that it will take about 30 work-hours per product to
comply with the basic requirements of this AD. The average labor rate
is $85 per work-hour. Based on these figures, we estimate the cost of
this AD to the U.S. operators to be $10,200, or $2,550 per product.

Authority for This Rulemaking

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

Regulatory Findings

    We determined that this AD will not have federalism implications
under Executive Order 13132. This AD will not have a substantial direct
effect on the States, on the relationship between the national
government and the States, or on the distribution of power and
responsibilities among the various levels of government.
    For the reasons discussed above, I certify this AD:
    1. Is not a ``significant regulatory action'' under Executive Order
12866;
    2. Is not a ``significant rule'' under the DOT Regulatory Policies
and Procedures (44 FR 11034, February 26, 1979); and
    3. Will not have a significant economic impact, positive or
negative,

on a substantial number of small entities under the criteria of the
Regulatory Flexibility Act.
    We prepared a regulatory evaluation of the estimated costs to
comply with this AD and placed it in the AD docket.

Examining the AD Docket

    You may examine the AD docket on the Internet at http://
www.regulations.gov; or in person at the Docket Operations office
between 9 a.m. and 5 p.m., Monday through Friday, except Federal
holidays. The AD docket contains the NPRM, the regulatory evaluation,
any comments received, and other information. The street address for
the Docket Operations office (telephone<PHONE_NUMBER>) is in the
ADDRESSES section. Comments will be available in the AD docket shortly
after receipt.

List of Subjects in 14 CFR Part 39

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

Adoption of the Amendment

0
Accordingly, under the authority delegated to me by the Administrator,
the FAA amends 14 CFR part 39 as follows:

PART 39--AIRWORTHINESS DIRECTIVES

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

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

Sec.  39.13  [Amended]

0
2. The FAA amends Sec.  39.13 by adding the following new AD:

2010-19-02 Bombardier, Inc. Amendment 39-16430. Docket No. FAA-2010-
0432; Directorate Identifier 2010-NM-001-AD.

Effective Date

    (a) This airworthiness directive (AD) becomes effective October
18, 2010.

Affected ADs

    (b) None.

Applicability

    (c) This AD applies to Bombardier, Inc. Model DHC-8-201, -202, -
301, -311, and -315 airplanes, certificated in any category, having
serial numbers 644 through 664 inclusive.

Subject

    (d) Air Transport Association (ATA) of America Code 28: Fuel.

Reason

    (e) The mandatory continuing airworthiness information (MCAI)
states:
    During a recent production fuel system test, it was found that
all three flapper valves located in each collector tank did not
conform to the design requirements, due to the fact that a valve
spring was installed on the flapper hinge pin. This valve spring
should have been removed prior to installation of the valves.
    It was subsequently determined that this condition is restricted
to the 21 aircraft listed in the Applicability section above.
    With the valve spring installed, the flapper valve is held
closed by the valve spring, preventing gravity feed. In the event of
scavenge system failure, the collector tank fuel level can no longer
be maintained, potentially leading to an in-flight engine shutdown.
    In order to ensure adequate fuel transfer to the collector tank
at all times, this directive mandates a one-time [detailed]
inspection of each of the six flapper valves, removal of the valve
spring, if installed, and application of an identification mark on
each inspected valve.

Compliance

    (f) You are responsible for having the actions required by this
AD performed within the compliance times specified, unless the
actions have already been done.

Actions

    (g) Within 1,000 flight hours after the effective date of this
AD, do a detailed inspection of each collector tank flapper valve
for the presence of a valve spring, in accordance with the
Accomplishment Instructions of Bombardier Service Bulletin 8-28-54,
dated April 22, 2009. If the valve spring is not present, before
further flight, apply an identification mark, in accordance with the
Accomplishment Instructions of Bombardier Service Bulletin 8-28-54,
dated April 22, 2009. If the valve spring is present, before further
flight, remove the valve spring and apply an identification mark, in
accordance with the Accomplishment Instructions of Bombardier
Service Bulletin 8-28-54, dated April 22, 2009.

FAA AD Differences

    Note 1: This AD differs from the MCAI and/or service information
as follows: No differences.

Other FAA AD Provisions

    (h) The following provisions also apply to this AD:
    (1) Alternative Methods of Compliance (AMOCs): The Manager, New
York Aircraft Certification Office (ACO), ANE-170, FAA, has the
authority to approve AMOCs for this AD, if requested using the
procedures found in 14 CFR 39.19. Send information to ATTN: Program
Manager, Continuing Operational Safety, FAA, New York ACO, 1600
Stewart Avenue, Suite 410, Westbury, New York 11590; telephone 516-
228-7300; fax<PHONE_NUMBER>. Before using any approved AMOC on any
airplane to which the AMOC applies, notify your principal
maintenance inspector (PMI) or principal avionics inspector (PAI),
as appropriate, or lacking a principal inspector, your local Flight
Standards District Office. The AMOC approval letter must
specifically reference this AD.
    (2) Airworthy Product: For any requirement in this AD to obtain
corrective actions from a manufacturer or other source, use these
actions if they are FAA-approved. Corrective actions are considered
FAA-approved if they are approved by the State of Design Authority
(or their delegated agent). You are required to assure the product
is airworthy before it is returned to service.
    (3) Reporting Requirements: For any reporting requirement in
this AD, under the provisions of the Paperwork Reduction Act (44
U.S.C. 3501 et seq.), the Office of Management and Budget (OMB) has
approved the information collection requirements and has assigned
OMB Control Number 2120-0056.

Related Information

    (i) Refer to MCAI Canadian Airworthiness Directive CF-2009-40,
dated November 9, 2009; and Bombardier Service Bulletin 8-28-54,
dated April 22, 2009; for related information.

Material Incorporated by Reference

    (j) You must use Bombardier Service Bulletin 8-28-54, dated
April 22, 2009, to do the actions required by this AD, unless the AD
specifies otherwise.
    (1) The Director of the Federal Register approved the
incorporation by reference of this service information under 5
U.S.C. 552(a) and 1 CFR part 51.
    (2) For service information identified in this AD, contact
Bombardier, Inc., 400 C[ocirc]te-Vertu Road West, Dorval,
Qu[eacute]bec H4S 1Y9, Canada; telephone<PHONE_NUMBER>; fax 514-855-
7401; e-mail<EMAIL_ADDRESS>Internet http://
www.bombardier.com.
    (3) You may review copies of the service information at the FAA,
Transport Airplane Directorate, 1601 Lind Avenue, SW., Renton,
Washington. For information on the availability of this material at
the FAA, call<PHONE_NUMBER>.
    (4) You may also review copies of the service information that
is incorporated by reference at the National Archives and Records
Administration (NARA). For information on the availability of this
material at NARA, call<PHONE_NUMBER>, or go to: http://
www.archives.gov/federal_register/code_of_federal_regulations/
ibr_locations.html.

    Issued in Renton, Washington, on September 2, 2010.
Jeffrey E. Duven,
Acting Manager, Transport Airplane Directorate, Aircraft Certification
Service.
[FR Doc. 2010-22680 Filed 9-10-10; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 81, Number 99 (Monday, May 23, 2016)]
[Notices]
[Pages 32364-32371]
[FR Doc No: 2016-12014]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-77847; File No. SR-NYSEArca-2016-64]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
of Proposed Rule Change, as Modified by Amendment No. 1 Thereto,
Relating to the Listing and Trading of Shares of the AdvisorShares KIM
Korea Equity ETF

May 17, 2016.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that, on May 2, 2016, NYSE Arca, Inc. (the ``Exchange'' or ``NYSE
Arca'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I and II
below, which Items have been prepared by the self-regulatory
organization. On May 13, 2016, the Exchange submitted Amendment No. 1
to the proposed rule change, which replaces and supersedes the proposed
rule change in its entirety. The Commission is publishing this notice
to solicit comments on the proposed rule change, as modified by
Amendment No. 1 thereto, from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to list and trade the shares of the following
under NYSE Arca Equities Rule 8.600 (``Managed Fund Shares''):
AdvisorShares KIM Korea Equity ETF. The proposed rule change is
available on the Exchange's Web site 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 list and trade shares (``Shares'') of the
following under NYSE Arca Equities Rule 8.600, which governs the
listing and trading of Managed Fund Shares: \3\ AdvisorShares KIM Korea
Equity ETF (``Fund''). The Shares will be offered by AdvisorShares
Trust (the ``Trust''),\4\ an open-end management investment company.\5\
The investment adviser to the Fund will be AdvisorShares Investments
LLC (the ``Adviser''). Korea Investment Management Co., Ltd., will be
the Fund's sub-adviser (``Sub-Adviser''). Foreside Fund Services, LLC
(the ``Distributor'') will be the principal underwriter and distributor
of the Fund's Shares. The Bank of New York Mellon (the
``Administrator'' or ``Custodian'') will serve as the administrator,
custodian and transfer agent for the Fund.\6\
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    \3\ A Managed Fund Share is a security that represents an
interest in an investment company registered under the Investment
Company Act of 1940 (15 U.S.C. 80a-1) (``1940 Act'') organized as an
open-end investment company or similar entity that invests in a
portfolio of securities selected by its investment adviser
consistent with its investment objectives and policies. In contrast,
an open-end investment company that issues Investment Company Units,
listed and traded on the Exchange under NYSE Arca Equities Rule
5.2(j)(3), seeks to provide investment results that correspond
generally to the price and yield performance of a specific foreign
or domestic stock index, fixed income securities index or
combination thereof.
    \4\ The Trust is registered under the 1940 Act. On March 25,
2016, the Trust filed with the Commission amendments to its
registration statement on Form N-1A under the Securities Act of 1933
(15 U.S.C. 77a) (``Securities Act'') and under the 1940 Act relating
to the Fund (File Nos. 333-157876 and 811-22110) (``Registration
Statement''). The description of the operation of the Trust and the
Fund herein is based, in part, on the Registration Statement. In
addition, the Commission has issued an order granting certain
exemptive relief to the Trust under the 1940 Act. See Investment
Company Act Release No. 29291 (May 28, 2010) (File No. 812-13677)
(``Exemptive Order'').
    \5\ The Commission has approved listing and trading on the
Exchange of a number of actively managed funds under Rule 8.600.
See, e.g., Securities Exchange Act Release Nos. 63076 (October 12,
2010), 75 FR 63874 (October 18, 2010) (SR-NYSEArca-2010-79) (order
approving Exchange listing and trading of Cambria Global Tactical
ETF); 63802 (January 31, 2011), 76 FR 6503 (February 4, 2011) (SR-
NYSEArca-2010-118) (order approving Exchange listing and trading of
the SiM Dynamic Allocation Diversified Income ETF and SiM Dynamic
Allocation Growth Income ETF); and 65468 (October 3, 2011), 76 FR
62873 (October 11, 2011) (SR-NYSEArca-2011-51) (order approving
Exchange listing and trading of TrimTabs Float Shrink ETF); 75023
(May 21, 2015), 80 FR 30519 (May 28, 2015) (SR-NYSEArca-2014-100)
(order approving proposed rule change relating to the listing and
trading of shares of the SPDR SSgA Global Managed Volatility ETF
under NYSE Arca Equities Rule 8.600); 77463 (March 29, 2016), 81 FR
19255 (April 4, 2016) (SR-NYSEArca-2015-107) (order approving
proposed rule change to list and trade shares of the REX Gold Hedged
S&P 500 ETF and the REX Gold Hedged FTSE Emerging Markets ETF under
NYSE Arca Equities Rule 8.600).
    \6\ This Amendment No. 1 to SR-NYSEArca-2016-49 [sic] replaces
SR-NYSEArca-2016-49 [sic] as originally filed and supersedes such
filing in its entirety.
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    Commentary .06 to Rule 8.600 provides that, if the investment
adviser to the investment company issuing Managed Fund Shares is
affiliated with a broker-dealer, such investment adviser shall erect a
``fire wall'' between the investment adviser and the broker-dealer with
respect to access to information concerning the composition and/or
changes to such investment company portfolio. In addition, Commentary
.06 further requires that personnel who make decisions on the open-end
fund's portfolio composition must be subject to procedures designed to
prevent the use and dissemination of material nonpublic information
regarding the open-end fund's portfolio.\7\ Commentary .06 to Rule
8.600 is similar to Commentary .03(a)(i) and (iii) to NYSE Arca
Equities Rule 5.2(j)(3); however, Commentary .06 in connection with the
establishment of a ``fire wall'' between the investment adviser and the
broker-dealer reflects the applicable open-end fund's portfolio, not an
underlying benchmark index, as is the case with index-based funds.
Neither the Adviser nor the Sub-Adviser is registered as a broker-
dealer. Neither the Adviser nor the Sub-Adviser is affiliated with a
broker-dealer. In the event (a) the Adviser or the Sub-Adviser becomes
a registered broker-dealer or becomes newly affiliated with a broker-
dealer, or (b) any new adviser or any sub-adviser is a registered
broker-dealer or becomes affiliated with a broker-dealer, it will
implement a fire wall with respect to its relevant personnel or its
broker-dealer affiliate regarding access to information concerning the
composition and/or changes to the Fund's portfolio, and will be subject
to procedures designed to prevent the use and dissemination of material
non-public information regarding such portfolio.
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    \7\ An investment adviser to an open-end fund is required to be
registered under the Investment Advisers Act of 1940 (the ``Advisers
Act''). As a result, the Adviser and Sub-Adviser and their related
personnel are subject to the provisions of Rule 204A-1 under the
Advisers Act relating to codes of ethics. This Rule requires
investment advisers to adopt a code of ethics that reflects the
fiduciary nature of the relationship to clients as well as
compliance with other applicable securities laws. Accordingly,
procedures designed to prevent the communication and misuse of non-
public information by an investment adviser must be consistent with
Rule 204A-1 under the Advisers Act. In addition, Rule 206(4)-7 under
the Advisers Act makes it unlawful for an investment adviser to
provide investment advice to clients unless such investment adviser
has (i) adopted and implemented written policies and procedures
reasonably designed to prevent violation, by the investment adviser
and its supervised persons, of the Advisers Act and the Commission
rules adopted thereunder; (ii) implemented, at a minimum, an annual
review regarding the adequacy of the policies and procedures
established pursuant to subparagraph (i) above and the effectiveness
of their implementation; and (iii) designated an individual (who is
a supervised person) responsible for administering the policies and
procedures adopted under subparagraph (i) above.
---------------------------------------------------------------------------

Principal Investments
    According to the Registration Statement, the Fund will seek to
provide long-term capital appreciation above the capital appreciation
of its primary benchmark, the MSCI Korea Index, and other Korea-focused
indexes. The Fund will seek to achieve its investment objective by
investing primarily in growth-oriented stocks of any capitalization
range listed on the Korea Exchange. Under normal circumstances,\8\ the
Fund will invest at least 80% of its net assets (plus any borrowings
for investment purposes) in equity securities listed on the Korea
Exchange.\9\ The Sub-Adviser will manage the Fund's portfolio by buying
and holding stocks of companies at attractive valuation that it
believes have growth potential. The Sub-Adviser will focus on corporate
fundamental research in its stock selection, often called ``bottom up''
analysis. The Sub-Adviser will invest the Fund's assets with a mid- to
long-term view, typically

seeking to avoid short-term trading. In selecting investments for the
Fund's portfolio, the Sub-Adviser will place emphasis on fundamentals
rather than on short-term momentum and continuously monitor market
risks. In deciding whether to sell investments in the Fund's portfolio,
the Sub-Adviser will consider the following factors: A company's stock
price reaches its target price; a company in the portfolio experiences
negative fundamental changes; errors are found in the previous
assumptions or forecasts of a company; and more profitable alternatives
are found.
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    \8\ The term ``under normal circumstances'' means, without
limitation, the absence of extreme volatility or trading halts in
the equity markets or the financial markets generally; operational
issues causing dissemination of inaccurate market information; or
force majeure type events such as systems failure, natural or man-
made disaster, act of God, armed conflict, act of terrorism, riot or
labor disruption or any similar intervening circumstance.
    \9\ The Korea Exchange is a member of the Intermarket
Surveillance Group (``ISG'').
---------------------------------------------------------------------------

    In addition to individual stock selection, the Sub-Adviser will
engage in sector allocation based on analysis of the macro economy and
its effect on corporate competitiveness and industry cycles. This is
often called ``top down'' analysis. The Sub-Adviser will strive to
invest with large economic cycles as compared to short-term market
trends and short-term supply and demand.
Other Investments
    While the Fund, under normal circumstances, will invest at least
80% of its assets in the securities described above, the Fund may
invest its remaining assets in the securities and financial instruments
described below.
    In addition to the common stocks of Korean companies referenced in
the Principal Investments section above, the Fund may invest in the
following equity securities traded on a U.S. or foreign exchange or
over-the-counter (``OTC''), including equity securities of foreign
issuers in emerging countries: Common stocks, preferred stocks,
warrants, rights, securities convertible into common stock, and
investments in master limited partnerships (``MLPs'').
    The Fund will invest in issuers located outside the United States
directly and may invest in exchange-traded funds (``ETFs''),\10\
exchange-traded notes (``ETNs'') \11\ and exchange-traded products
(``ETPs'') \12\ that are indirectly linked to the performance of
foreign issuers, and ``Depositary Receipts'', which are American
Depositary Receipts (``ADRs''), Global Depositary Receipts (``GDRs''),
European Depositary Receipts (``EDRs''), International Depositary
Receipts (``IDRs''), ``ordinary shares,'' and ``New York shares''
issued and traded in the U.S.\13\
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    \10\ For purposes of this proposed rule change, ETFs are
Investment Company Units (as described in NYSE Arca Equities Rule
5.2(j)(3)); Portfolio Depositary Receipts (as described in NYSE Arca
Equities Rule 8.100); and Managed Fund Shares (as described in NYSE
Arca Equities Rule 8.600). The ETFs all will be listed and traded in
the U.S. on registered exchanges. The Fund will invest in the
securities of ETFs registered under the 1940 Act consistent with the
requirements of Section 12(d)(1) of the 1940 Act, or any rule,
regulation or order of the Commission or interpretation thereof. The
Fund will only make such ETF investments in conformity with the
requirements of Regulation M of the Internal Revenue Code of 1986,
as amended. While the Fund may invest in inverse ETFs, the Fund will
not invest in leveraged or inverse leveraged ETFs (e.g., 2X or 3X).
    \11\ ETNs include Index-Linked Securities (as described in NYSE
Arca Equities Rule 5.2(j)(6)). While the Fund may invest in inverse
ETNs, the Fund will not invest in leveraged or inverse leveraged
ETNs (e.g., 2X or 3X).
    \12\ For purposes of this proposed rule change, ETPs include
Trust Issued Receipts (as described in NYSE Arca Equities Rule
8.200) and Currency Trust Shares (as described in NYSE Arca Equities
Rule 8.202). While the Fund may invest in inverse ETPs, the Fund
will not invest in leveraged or inverse leveraged ETPs (e.g., 2X or
3X).
    \13\ According to the Registration Statement, ADRs are U.S.
dollar denominated receipts typically issued by U.S. banks and trust
companies that evidence ownership of underlying securities issued by
a foreign issuer. The underlying securities may not necessarily be
denominated in the same currency as the securities into which they
may be converted. The underlying securities are held in trust by a
custodian bank or similar financial institution in the issuer's home
country. The depositary bank may not have physical custody of the
underlying securities at all times and may charge fees for various
services, including forwarding dividends and interest and corporate
actions. Generally, ADRs in registered form are designed for use in
domestic securities markets and are traded on exchanges or over-the-
counter in the U.S. GDRs, EDRs, and IDRs are similar to ADRs in that
they are certificates evidencing ownership of shares of a foreign
issuer, however, GDRs, EDRs, and IDRs may be issued in bearer form
and denominated in other currencies, and are generally designed for
use in specific or multiple securities markets outside the U.S.
EDRs, for example, are designed for use in European securities
markets while GDRs are designed for use throughout the world.
Ordinary shares are shares of foreign issuers that are traded abroad
and on a U.S. exchange. New York shares are shares that a foreign
issuer has allocated for trading in the U.S. ADRs, ordinary shares,
and New York shares all may be purchased with and sold for U.S.
dollars. Not more than 10% of the Fund's assets will be invested in
non-exchange-traded ADRs. Other ADRs in which the Fund invests will
be exchange-traded.
---------------------------------------------------------------------------

    The Fund may invest in the securities of non-exchange-traded
investment company securities to the extent that such an investment
would be consistent with the requirements of Section 12(d)(1) of the
1940 Act, or any rule, regulation or order of the Commission or
interpretation thereof. Consistent with such restrictions discussed
above, the Fund may invest in U.S. and non-U.S. exchange-listed closed-
end funds and business development companies (``BDCs''). Except with
respect to ETFs, as described above,\14\ the Fund will not invest in
inverse, leveraged, or inverse leveraged investment company securities.
---------------------------------------------------------------------------

    \14\ See note 11, supra.
---------------------------------------------------------------------------

    The Fund may invest in U.S. government securities. Securities
issued or guaranteed by the U.S. government or its agencies or
instrumentalities include the following: U.S. Treasury securities,
which are backed by the full faith and credit of the U.S. Treasury and
which differ only in their interest rates, maturities, and times of
issuance; U.S. Treasury bills, which have initial maturities of one
year or less; U.S. Treasury notes, which have initial maturities of one
to ten years; U.S. Treasury bonds, which generally have initial
maturities of greater than ten years; and U.S. Treasury zero-coupon
bonds. The Fund may invest in certain U.S. government securities that
are issued or guaranteed by agencies or instrumentalities of the U.S.
government including, but not limited to, obligations of U.S.
government agencies or instrumentalities such as the Federal National
Mortgage Association (``Fannie Mae''), the Federal Home Loan Mortgage
Corporation (``Freddie Mac''), and the Government National Mortgage
Association (``Ginnie Mae'').
    The Fund may invest in non-exchange-traded convertible securities
that are bonds, debentures, notes, or other securities that may be
converted or exchanged (by the holder or by the issuer) into shares of
the underlying common stock (or cash or securities of equivalent value)
at a stated exchange ratio.
    The Fund may invest in shares of U.S. or non-U.S. exchange-traded
real estate investment trusts (``REITs'').
    The Fund may invest in repurchase agreements and reverse repurchase
agreements.
    The Fund may purchase securities on a when-issued, delayed-delivery
or forward commitment basis (i.e., delivery and payment can take place
between a month and 120 days after the date of the transaction).
    To respond to adverse market, economic, political or other
conditions, the Fund may invest up to 100% of its total assets in high-
quality, short-term debt securities and money market instruments either
directly or through ETFs. The Fund may be invested in this manner for
extended periods, depending on the Sub-Advisor's assessment of market
conditions. Debt securities and money market instruments are the
following: Shares of other mutual funds, commercial paper, certificates
of deposit, bankers' acceptances, U.S. government securities,
repurchase agreements, and bonds that are rated BBB or higher.
Investment Restrictions
    According to the Registration Statement, the Fund will be
classified as

a diversified investment company under the 1940 Act.\15\
---------------------------------------------------------------------------

    \15\ The diversification standard is set forth in Section
5(b)(1) of the 1940 Act.
---------------------------------------------------------------------------

    The Fund intends to qualify as a ``regulated investment company''
for purposes of the Internal Revenue Code of 1986.\16\
---------------------------------------------------------------------------

    \16\ 26 U.S.C. 851.
---------------------------------------------------------------------------

    The Fund may hold up to an aggregate amount of 15% of its net
assets in assets deemed illiquid by the Adviser.\17\ The Fund will
monitor its portfolio liquidity on an ongoing basis to determine
whether, in light of current circumstances, an adequate level of
liquidity is being maintained, and will consider taking appropriate
steps in order to maintain adequate liquidity if, through a change in
values, net assets, or other circumstances, more than 15% of the Fund's
net assets are held in illiquid assets. Illiquid assets include
securities subject to contractual or other restrictions on resale and
other instruments that lack readily available markets as determined in
accordance with Commission staff guidance.\18\
---------------------------------------------------------------------------

    \17\ Under the supervision of the Fund's Board of Trustees
(``Board''), the Adviser determines the liquidity of the Fund's
investments. In determining the liquidity of the Fund's investments,
the Adviser may consider various factors, including (1) the
frequency and volume of trades and quotations; (2) the number of
dealers and prospective purchasers in the marketplace; (3) dealer
undertakings to make a market; and (4) the nature of the security
and the market in which it trades (including any demand, put or
tender features, the mechanics and other requirements for transfer,
any letters of credit or other credit enhancement features, any
ratings, the number of holders, the method of soliciting offers, the
time required to dispose of the security, and the ability to assign
or offset the rights and obligations of the security).
    \18\ The Commission has stated that long-standing Commission
guidelines have required open-end funds to hold no more than 15% of
their net assets in illiquid securities and other illiquid assets.
See Investment Company Act Release No. 28193 (March 11, 2008), 73 FR
14618 (March 18, 2008), footnote 34. See also, Investment Company
Act Release No. 5847 (October 21, 1969), 35 FR 19989 (December 31,
1970) (Statement Regarding ``Restricted Securities''); Investment
Company Act Release No. 18612 (March 12, 1992), 57 FR 9828 (March
20, 1992) (Revisions of Guidelines to Form N-1A). A fund's portfolio
security is illiquid if it cannot be disposed of in the ordinary
course of business within seven days at approximately the value
ascribed to it by the fund. See Investment Company Act Release No.
14983 (March 12, 1986), 51 FR 9773 (March 21, 1986) (adopting
amendments to Rule 2a-7 under the 1940 Act); Investment Company Act
Release No. 17452 (April 23, 1990), 55 FR 17933 (April 30, 1990)
(adopting Rule 144A under the 1933 Act).
---------------------------------------------------------------------------

    The Fund may not:
    (a) With respect to 75% of its total assets, (i) purchase
securities of any issuer (except securities issued or guaranteed by the
U.S. government, its agencies or instrumentalities or shares of
investment companies) if, as a result, more than 5% of its total assets
would be invested in the securities of such issuer, or (ii) acquire
more than 10% of the outstanding voting securities of any one issuer.
    (b) Invest 25% or more of its total assets in the securities of one
or more issuers conducting their principal business activities in the
same industry or group of industries. This limitation does not apply to
investments in securities issued or guaranteed by the U.S. government,
its agencies or instrumentalities, or shares of investment companies.
The Fund will not invest 25% or more of its total assets in any
investment company that so concentrates.
    The Fund will not invest in options, futures, swaps or forward
contracts.
    The Fund's investments will be consistent with its investment
objective and will not be used to provide multiple returns of a
benchmark or to produce leveraged returns. The Fund's investments will
not be used to seek performance that is the multiple or inverse
multiple (e.g., 2Xs and 3Xs) of the Fund's primary broad-based
securities benchmark index (as defined in Form N-1A).\19\
---------------------------------------------------------------------------

    \19\ The Fund's broad-based securities benchmark index will be
identified in a future amendment to the Registration Statement
following the Fund's first full calendar year of performance.
---------------------------------------------------------------------------

Creation and Redemption of Shares
    According to the Registration Statement, the Trust will issue and
sell Shares of the Fund only in ``Creation Units'' of at least 25,000
Shares on a continuous basis through the Distributor, at their net
asset value (``NAV'') next determined after receipt, on any business
day, of an order received in proper form.
    Creation Units of the Fund will be sold only for cash (``Cash
Purchase Amount''). Creation Units will be sold at the NAV next
computed, plus a transaction fee. The Trust reserves the right to offer
an in-kind option for creations of Creation Units for the Fund.
    To be eligible to place orders with the Distributor to create a
Creation Unit of the Fund, an entity must be (i) a ``Participating
Party,'' i.e., a broker-dealer or other participant in the clearing
process through the Continuous Net Settlement System of the National
Securities Clearing Corporation (``NSCC''), a clearing agency that is
registered with the Commission; or (ii) a Depository Trust Company
(``DTC '') Participant, and, in each case, must have executed an
agreement with the Trust, the Distributor and the Administrator with
respect to creations and redemptions of Creation Units (``Participant
Agreement''). A Participating Party and DTC Participant are
collectively referred to as an ``Authorized Participant.''
    All orders to create Creation Units must be received by the
Distributor no later than the close of the regular trading session on
the Exchange (ordinarily 4:00 p.m., Eastern Time), in each case on the
date such order is placed in order for the creation of Creation Units
to be effected based on the NAV of Shares of the Fund as next
determined on such date after receipt of the order in proper form.
    All purchases of the Fund will be effected through a transfer of
cash directly through DTC.
    Shares may be redeemed only in Creation Units at their NAV next
determined after receipt of a redemption request in proper form by the
Fund through the Administrator and only on a business day.
    The redemption proceeds for a Creation Unit of the Fund will
consist solely of cash in an amount equal to the NAV of the Shares
being redeemed, as next determined after receipt of a request in proper
form, less a redemption transaction fee (the ``Cash Redemption
Amount''). The Trust reserves the right to offer an in-kind option for
redemptions of Creation Units for the Fund.\20\
---------------------------------------------------------------------------

    \20\ Creations or redemptions conducted in cash will be effected
in the same manner for all Authorized Participants.
---------------------------------------------------------------------------

    The right of redemption may be suspended or the date of payment
postponed with respect to the Fund (1) for any period during which the
NYSE is closed (other than customary weekend and holiday closings); (2)
for any period during which trading on the NYSE is suspended or
restricted; (3) for any period during which an emergency exists as a
result of which disposal of the Shares of the Fund or determination of
the Shares' NAV is not reasonably practicable; or (4) in such other
circumstance as is permitted by the Commission.
Net Asset Value
    According to the Registration Statement, the Fund will calculate
NAV by (i) taking the current market value of its total assets, (ii)
subtracting any liabilities, and (iii) dividing that amount by the
total number of Shares owned by shareholders.
    The Fund will calculate NAV once each business day as of the
regularly scheduled close of normal trading on the New York Stock
Exchange (the ``NYSE'') (normally 4:00 p.m. Eastern Time).
    In calculating NAV, the Fund generally will value its portfolio

investments at market prices. Given that the Fund's investments
generally trade on a foreign exchange, they will be valued based on
their closing prices on that exchange, subject to possible adjustment.
Investments in stocks traded on the Korea Exchange will be valued based
on the applicable closing price on the Korea Exchange.
    The NAV per Share of the Fund will be computed by dividing the
value of the net assets of the Fund (i.e., the value of its total
assets less total liabilities) by the total number of Shares of the
Fund outstanding, rounded to the nearest cent. Expenses and fees,
including without limitation, the management, administration and
distribution fees, will be accrued daily and taken into account for
purposes of determining NAV per Share. The NAV per Share for the Fund
will be calculated by the Administrator and determined as of the
regularly scheduled close of normal trading on the NYSE (normally 4:00
p.m. Eastern Time) on each day that the NYSE is open.
    In computing the Fund's NAV, the Fund's securities holdings will be
valued based on their last readily available market price. Price
information on listed securities, including ETFs, ETNs and ETPs in
which the Fund invests, will be taken from the exchange where the
security is primarily traded. Other portfolio securities and assets for
which market quotations are not readily available or determined to not
represent the current fair value will be valued based on fair value as
determined in good faith by the Fund's Sub-Adviser in accordance with
procedures adopted by the Fund's Board of Trustees (``Board'').
    Exchange-traded equity securities, including common stocks, ETFs,
ETNs, ETPs, preferred stocks, rights, warrants, convertible securities,
closed-end funds, certain Depositary Receipts, MLPs, REITs, and BDCs
will be valued at market value, which will generally be determined
using the last reported official closing or last trading price on the
exchange or market on which the security is primarily traded at the
time of valuation or, if no sale has occurred, at the last quoted bid
price on the primary market or exchange on which they are traded. If
market prices are unavailable or the Fund believes that they are
unreliable, or when the value of a security has been materially
affected by events occurring after the relevant market closes, the Fund
will price those securities at fair value as determined in good faith
using methods approved by the Fund's Board.
    OTC-traded common stocks, OTC ADRs, preferred stocks, rights,
warrants, convertible securities, and MLPs will be valued at the last
reported sale price from the OTC Bulletin Board or OTC Link LLC on the
valuation date. If such OTC-traded security does not trade on a
particular day, then the mean between the last quoted closing bid and
asked price will be used.
    Non-exchange-traded convertible securities, U.S. government
securities, short-term debt securities, repurchase agreements and
reverse repurchase agreements will be valued at prices supplied by
approved pricing services.
    Investment company securities (other than exchange-traded
investment company securities) will be valued at NAV.
Availability of Information
    The Fund's Web site (www.advisorshares.com), which will be publicly
available prior to the public offering of Shares, will include a form
of the prospectus for the Fund that may be downloaded. The Fund's Web
site will include additional quantitative information updated on a
daily basis, including, for the Fund, (1) daily trading volume, the
prior business day's reported closing price, NAV and mid-point of the
bid/ask spread at the time of calculation of such NAV (the ``Bid/Ask
Price''),\21\ and a calculation of the premium and discount of the Bid/
Ask Price against the NAV, and (2) data in chart format displaying the
frequency distribution of discounts and premiums of the daily Bid/Ask
Price against the NAV, within appropriate ranges, for each of the four
previous calendar quarters. On each business day, before commencement
of trading in Shares in the Core Trading Session on the Exchange, the
Fund will disclose on its Web site the Disclosed Portfolio that will
form the basis for the Fund's calculation of NAV at the end of the
business day.\22\
---------------------------------------------------------------------------

    \21\ The Bid/Ask Price of Shares of the Fund will be determined
using the mid-point of the highest bid and the lowest offer on the
Exchange as of the time of calculation of the Fund's NAV. The
records relating to Bid/Ask Prices will be retained by the Fund and
its service providers.
    \22\ Under accounting procedures followed by the Fund, trades
made on the prior business day (``T'') will be booked and reflected
in NAV on the current business day (``T+1''). Accordingly, the Fund
will be able to disclose at the beginning of the business day the
portfolio that will form the basis for the NAV calculation at the
end of the business day.
---------------------------------------------------------------------------

    On a daily basis, the Adviser, on behalf of the Fund, will disclose
on the Fund's Web site the following information regarding each
portfolio holding, as applicable to the type of holding: Ticker symbol,
CUSIP number or other identifier, if any; a description of the holding
(including the type of holding); the identity of the security, index,
or other asset or instrument underlying the holding, if any; quantity
held (as measured by, for example, par value, notional value or number
of shares, contracts or units); maturity date, if any; coupon rate, if
any; effective date, if any; market value of the holding; and the
percentage weighting of the holding in the Fund's portfolio. The Web
site information will be publicly available at no charge.
    In addition, a basket composition file, which includes the security
names and share quantities (as applicable) required to be delivered in
exchange for Fund Shares, together with estimates and actual cash
components, will be publicly disseminated daily prior to the opening of
the NYSE via the NSCC. The basket will represent one Creation Unit of
the Fund.
    Investors can also obtain the Fund's Statement of Additional
Information (``SAI''), the Fund's Shareholder Reports, and its Form N-
CSR and Form N-SAR, filed twice a year. The Trust's SAI and Shareholder
Reports will be available free upon request from the Trust, and those
documents and the Form N-CSR and Form N-SAR may be viewed on-screen or
downloaded from the Commission's Web site at www.sec.gov. Information
regarding market price and trading volume of the Shares will be
continually available on a real-time basis throughout the day on
brokers' computer screens and other electronic services. Information
regarding the previous day's closing price and trading volume
information for the Shares will be published daily in the financial
section of newspapers. Price information for stocks listed on the Korea
Exchange is available from the Korea Exchange Web site and from major
market data vendors. Quotation and last sale information for the Shares
and U.S. exchange-listed equity securities, including common stocks,
ETFs, ETNs, ETPs, preferred stocks, rights, warrants, convertible
securities, closed-end funds, MLPs, REITs, and BDCs and certain
Depositary Receipts will be available via the Consolidated Tape
Association (``CTA'') high-speed line, and will be available from the
national securities exchange on which they are listed. Prices related
to foreign exchange-traded common stocks, preferred stocks, rights,
warrants, convertible securities, MLPs, REITs and BDCs will be
available from the applicable exchange or from major market data
vendors. Intra-day and closing price information relating to OTC-traded
common stocks, OTC ADRs, preferred stocks, rights, warrants,
convertible securities and MLPs will be

available from major market data vendors. Price information regarding
investment company securities (other than exchange-traded investment
company securities) will be available from the applicable fund. Price
information regarding U.S. government securities, short-term debt
securities, non-exchange-traded convertible securities, money market
funds, repurchase agreements, and reverse repurchase agreements may be
obtained from brokers and dealers who make markets in such securities
or through nationally recognized pricing services through subscription
agreements.
    In addition, the Portfolio Indicative Value, as defined in NYSE
Arca Equities Rule 8.600 (c)(3), based on current information regarding
the value of the securities and other assets in the Disclosed
Portfolio, will be widely disseminated at least every 15 seconds during
the Core Trading Session by one or more major market data vendors.\23\
The dissemination of the Portfolio Indicative Value, together with the
Disclosed Portfolio, will allow investors to determine the value of the
underlying portfolio of the Fund on a daily basis and will provide a
close estimate of that value throughout the trading day. The Portfolio
Indicative Value should not be viewed as a ``real-time'' update of the
NAV per Share of the Fund, which will be calculated once per day.
---------------------------------------------------------------------------

    \23\ Currently, it is the Exchange's understanding that several
major market data vendors display and/or make widely available
Portfolio Indicative Values taken from CTA or other data feeds.
---------------------------------------------------------------------------

Trading Halts
    With respect to trading halts, the Exchange may consider all
relevant factors in exercising its discretion to halt or suspend
trading in the Shares of the Fund.\24\ Trading in Shares of the Fund
will be halted if the circuit breaker parameters in NYSE Arca Equities
Rule 7.12 have been reached. Trading also may be halted because of
market conditions or for reasons that, in the view of the Exchange,
make trading in the Shares inadvisable. These may include: (1) The
extent to which trading is not occurring in the securities and/or the
financial instruments comprising the Disclosed Portfolio of the Fund;
or (2) whether other unusual conditions or circumstances detrimental to
the maintenance of a fair and orderly market are present. Trading in
the Shares will be subject to NYSE Arca Equities Rule 8.600(d)(2)(D),
which sets forth circumstances under which Shares of the Fund may be
halted.
---------------------------------------------------------------------------

    \24\ See NYSE Arca Equities Rule 7.12.
---------------------------------------------------------------------------

Trading Rules
    The Exchange deems the Shares to be equity securities, thus
rendering trading in the Shares subject to the Exchange's existing
rules governing the trading of equity securities. Shares will trade on
the NYSE Arca Marketplace from 4 a.m. to 8 p.m. Eastern Time in
accordance with NYSE Arca Equities Rule 7.34 (Opening, Core, and Late
Trading Sessions). The Exchange has appropriate rules to facilitate
transactions in the Shares during all trading sessions. As provided in
NYSE Arca Equities Rule 7.6, the minimum price variation (``MPV'') for
quoting and entry of orders in equity securities traded on the NYSE
Arca Marketplace is $0.01, with the exception of securities that are
priced less than $1.00 for which the MPV for order entry is $0.0001.
    The Shares will conform to the initial and continued listing
criteria under NYSE Arca Equities Rule 8.600. Consistent with NYSE Arca
Equities Rule 8.600(d)(2)(B)(ii), the Adviser, as the Reporting
Authority, will implement and maintain, or be subject to, procedures
designed to prevent the use and dissemination of material non-public
information regarding the actual components of the Fund's portfolio.
The Exchange represents that, for initial and/or continued listing, the
Fund will be in compliance with Rule 10A-3 \25\ under the Act, as
provided by NYSE Arca Equities Rule 5.3. A minimum of 100,000 Shares
will be outstanding at the commencement of trading on the Exchange. The
Exchange will obtain a representation from the issuer of the Shares
that the NAV per Share will be calculated daily and that the NAV and
the Disclosed Portfolio as defined in NYSE Arca Equities Rule
8.600(c)(2) will be made available to all market participants at the
same time.
---------------------------------------------------------------------------

    \25\ 17 CFR 240.10A-3.
---------------------------------------------------------------------------

Surveillance
    The Exchange represents that trading in the Shares will be subject
to the existing trading surveillances, administered by the Exchange or
the Financial Industry Regulatory Authority (``FINRA'') on behalf of
the Exchange, which are designed to detect violations of Exchange rules
and applicable federal securities laws.\26\ The Exchange represents
that these procedures are adequate to properly monitor Exchange trading
of the Shares in all trading sessions and to deter and detect
violations of Exchange rules and federal securities laws applicable to
trading on the Exchange.
---------------------------------------------------------------------------

    \26\ FINRA conducts cross-market surveillances on behalf of the
Exchange pursuant to a regulatory services agreement. The Exchange
is responsible for FINRA's performance under this regulatory
services agreement.
---------------------------------------------------------------------------

    The surveillances referred to above generally focus on detecting
securities trading outside their normal patterns, which could be
indicative of manipulative or other violative activity. When such
situations are detected, surveillance analysis follows and
investigations are opened, where appropriate, to review the behavior of
all relevant parties for all relevant trading violations.
    The Exchange or FINRA, on behalf of the Exchange, will communicate
as needed regarding trading in the Shares and certain underlying
exchange-traded equity securities (including common stocks, ETFs, ETNs,
ETPs, preferred stock, rights, warrants, exchange-traded convertible
securities, closed-end funds, MLPs, REITs, BDCs and certain Depositary
Receipts) with other markets and other entities that are members of the
ISG, and the Exchange or FINRA, on behalf of the Exchange, may obtain
trading information regarding trading in the Shares and such securities
and financial instruments from such markets and other entities. In
addition, the Exchange may obtain information regarding trading in the
Shares and such securities and financial instruments from markets and
other entities that are members of ISG or with which the Exchange has
in place a comprehensive surveillance sharing agreement.\27\ The
Exchange is able to access from FINRA, as needed, trade information for
certain fixed income securities held by the Fund reported to FINRA's
Trade Reporting and Compliance Engine (``TRACE'').
---------------------------------------------------------------------------

    \27\ For a list of the current members of ISG, see
www.isgportal.org. The Exchange notes that not all components of the
Disclosed Portfolio for the Fund may trade on markets that are
members of ISG or with which the Exchange has in place a
comprehensive surveillance sharing agreement.
---------------------------------------------------------------------------

    Not more than 10% of the net assets of the Fund in the aggregate
invested in equity securities (other than non-exchange-traded
investment company securities) shall consist of equity securities whose
principal market is not a member of the ISG or is a market with which
the Exchange does not have a comprehensive surveillance sharing
agreement.
    In addition, the Exchange also has a general policy prohibiting the
distribution of material, non-public information by its employees.
    All statements and representations made in this filing regarding
(a) the description of the portfolio, (b) limitations on portfolio
holdings or reference assets, or (c) the applicability

of Exchange rules and surveillance procedures shall constitute
continued listing requirements for listing the Shares on the Exchange.
    The issuer has represented to the Exchange that it will advise the
Exchange of any failure by the Fund to comply with the continued
listing requirements, and, pursuant to its obligations under Section
19(g)(1) of the Act, the Exchange will monitor for compliance with the
continued listing requirements. If the Fund is not in compliance with
the applicable listing requirements, the Exchange will commence
delisting procedures under NYSE Arca Equities Rule 5.5(m).
Information Bulletin
    Prior to the commencement of trading, the Exchange will inform its
Equity Trading Permit Holders in an Information Bulletin (``Bulletin'')
of the special characteristics and risks associated with trading the
Shares. Specifically, the Bulletin will discuss the following: (1) The
procedures for purchases and redemptions of Shares in Creation Unit
aggregations (and that Shares are not individually redeemable); (2)
NYSE Arca Equities Rule 9.2(a), which imposes a duty of due diligence
on its Equity Trading Permit Holders to learn the essential facts
relating to every customer prior to trading the Shares; (3) the risks
involved in trading the Shares during the Opening and Late Trading
Sessions when an updated Portfolio Indicative Value will not be
calculated or publicly disseminated; (4) how information regarding the
Portfolio Indicative Value and the Disclosed Portfolio is disseminated;
(5) the requirement that Equity Trading Permit Holders deliver a
prospectus to investors purchasing newly issued Shares prior to or
concurrently with the confirmation of a transaction; and (6) trading
information.
    In addition, the Bulletin will reference that the Fund is subject
to various fees and expenses described in the Registration Statement.
The Bulletin will discuss any exemptive, no-action, and interpretive
relief granted by the Commission from any rules under the Act. The
Bulletin will also disclose that the NAV for the Shares will be
calculated after 4:00 p.m. Eastern Time each trading day.
2. Statutory Basis
    The basis under the Act for this proposed rule change is the
requirement under Section 6(b)(5) \28\ that an exchange have rules that
are 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, in general, to protect investors and the public interest.
---------------------------------------------------------------------------

    \28\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Exchange believes that the proposed rule change is designed to
prevent fraudulent and manipulative acts and practices in that the
Shares will be listed and traded on the Exchange pursuant to the
initial and continued listing criteria in NYSE Arca Equities Rule
8.600. The Exchange has in place surveillance procedures that are
adequate to properly monitor trading in the Shares in all trading
sessions and to deter and detect violations of Exchange rules and
applicable federal securities laws. The Exchange or FINRA, on behalf of
the Exchange, will communicate as needed regarding trading in the
Shares, certain underlying exchange-traded equity securities (including
common stocks, ETFs, ETNs, ETPs, preferred stock, rights, warrants,
exchange-traded convertible securities, closed-end funds, REITs, MLPs,
BDCs and certain Depositary Receipts) with other markets and other
entities that are members of the ISG, and the Exchange or FINRA, on
behalf of the Exchange, may obtain trading information regarding
trading in the Shares and such securities and financial instruments
from such markets and other entities. In addition, the Exchange may
obtain information regarding trading in the Shares and such securities
and financial instruments from markets and other entities that are
members of ISG or with which the Exchange has in place a comprehensive
surveillance sharing agreement. Not more than 10% of the net assets of
the Fund in the aggregate invested in equity securities (other than
non-exchange-traded investment company securities) shall consist of
equity securities whose principal market is not a member of the ISG or
is a market with which the Exchange does not have a comprehensive
surveillance sharing agreement. Neither the Adviser nor the Sub-Adviser
is registered as a broker-dealer. The Fund's investments will be
consistent with its investment objective and will not be used to
provide multiple returns of a benchmark or to produce leveraged
returns. The Fund's investments will not be used to seek performance
that is the multiple or inverse multiple (i.e., 2Xs and 3Xs) of the
Fund's primary broad-based securities benchmark index (as defined in
Form N-1A).
    The proposed rule change is designed to promote just and equitable
principles of trade and to protect investors and the public interest in
that the Exchange will obtain a representation from the issuer of the
Shares that the NAV per Share will be calculated daily and that the NAV
and the Disclosed Portfolio will be made available to all market
participants at the same time. In addition, a large amount of
information will be publicly available regarding the Fund and the
Shares, thereby promoting market transparency. Quotation and last sale
information for the Shares will be available via the CTA high-speed
line. In addition, the Portfolio Indicative Value will be widely
disseminated at least every 15 seconds during the Core Trading Session
by one or more major market data vendors. The Fund's Web site will
include a form of the prospectus for the Fund that may be downloaded,
as well as additional quantitative information updated on a daily
basis. On each business day, before commencement of trading in Shares
in the Core Trading Session on the Exchange, the Fund will disclose on
its Web site the Disclosed Portfolio that will form the basis for the
Fund's calculation of NAV at the end of the business day. On a daily
basis, the Adviser, on behalf of the Fund, will disclose on the Fund's
Web site the following information regarding each portfolio holding, as
applicable to the type of holding: Ticker symbol, CUSIP number or other
identifier, if any; a description of the holding (including the type of
holding); the identity of the security, index, or other asset or
instrument underlying the holding, if any; quantity held (as measured
by, for example, par value, notional value or number of shares,
contracts or units); maturity date, if any; coupon rate, if any;
effective date, if any; market value of the holding; and the percentage
weighting of the holding in the Fund's portfolio. The Web site
information will be publicly available at no charge.
    Moreover, prior to the commencement of trading, the Exchange will
inform its Equity Trading Permit Holders in an Information Bulletin of
the special characteristics and risks associated with trading the
Shares. Trading in Shares of the Fund will be halted if the circuit
breaker parameters in NYSE Arca Equities Rule 7.12 have been reached or
because of market conditions or for reasons that, in the view of the
Exchange, make trading in the Shares inadvisable. Trading in the Shares
will be subject to NYSE Arca Equities Rule 8.600(d)(2)(D), which sets
forth circumstances under which Shares of the Fund may be halted. In
addition, as noted above, investors will have ready access to
information regarding the Fund's holdings, the Portfolio Indicative

Value, the Disclosed Portfolio, and quotation and last sale information
for the Shares.
    The proposed rule change is designed to perfect the mechanism of a
free and open market and, in general, to protect investors and the
public interest in that it will facilitate the listing and trading of
an additional type of actively-managed exchange-traded product that
will enhance competition among market participants, to the benefit of
investors and the marketplace. As noted above, the Exchange has in
place surveillance procedures that are adequate to properly monitor
trading in the Shares in all trading sessions and to deter and detect
violations of Exchange rules and applicable federal securities laws. In
addition, as noted above, investors will have ready access to
information regarding the Fund's holdings, the Portfolio Indicative
Value, the Disclosed Portfolio, and quotation and last sale information
for the Shares.

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

    The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purpose of the Act. The Exchange notes that the
proposed rule change will facilitate the listing and trading of an
additional type of actively-managed exchange-traded product that
primarily holds equity securities and that will enhance competition
among market participants, to the benefit of investors and the
marketplace.

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

    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 within such longer period 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_ADDRESS>Please include
File Number SR-NYSEArca-2016-64 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NYSEArca-2016-64. 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 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; 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-NYSEArca-2016-64 and should
be submitted on or before June 13, 2016.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\29\
---------------------------------------------------------------------------

    \29\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-12014 Filed 5-20-16; 8:45 am]
BILLING CODE 8011-01-P


From:
David Ailor<EMAIL_ADDRESS>Sent:
Wednesday, February 24, 2021 4:57 PM
To:
Raymond, Gabrielle<EMAIL_ADDRESS>'Allen Dittenhoefer'<EMAIL_ADDRESS>Cc:
Jones, DonnaLee<EMAIL_ADDRESS><EMAIL_ADDRESS>'Knight, Jeffrey A.'<EMAIL_ADDRESS>'Kaplan, Mary'<EMAIL_ADDRESS>Subject:
RE: Review of Whole Industry Test Data, Coke Byproduct Chemical Plant Emissions, and Revised Clairton Byproducts Spreadsheet

Hi, Gabrielle.  Thanks for following up!

We have no further comments at this time on the emissions files you reference.  We look forward to receiving/reviewing the draft modeling file when it's available.

DCA

David C. Ailor, P.E.
President
American Coke and Coal Chemicals Institute
25 Massachusetts Avenue, N.W.
Suite 800
Washington, D.C. 20001
Phone:<PHONE_NUMBER>
eFax.:<PHONE_NUMBER>
<EMAIL_ADDRESS>www.accci.org

From: Raymond, Gabrielle<EMAIL_ADDRESS>Sent: Wednesday, February 24, 2021 11:55 AM
To: Allen Dittenhoefer<EMAIL_ADDRESS>Cc: Jones, DonnaLee<EMAIL_ADDRESS>Contact<EMAIL_ADDRESS><EMAIL_ADDRESS>Knight, Jeffrey A<EMAIL_ADDRESS>Kaplan, Mary<EMAIL_ADDRESS>Subject: RE: Review of Whole Industry Test Data, Coke Byproduct Chemical Plant Emissions, and Revised Clairton Byproducts Spreadsheet

Hello,

The EPA just wanted to follow up and confirm if COETF had any further comments/revisions for the emissions files attached in the EPA's last email 2/16/2021.

Please have all comment/revisions in by this Friday 2/26/2021, the EPA is going to send the coke modeling file for internal EPA QA on Monday 3/1/2021.

Thank you again,
Gabrielle

Gabrielle Raymond
she/her/hers
RTI International
3040 Cornwallis Road
P.O. Box 12194
Research Triangle Park, NC 27709
Phone:<PHONE_NUMBER>

From: Raymond, Gabrielle
Sent: Tuesday, February 16, 2021 4:31 PM
To: Allen Dittenhoefer<EMAIL_ADDRESS>Cc: Jones, DonnaLee<EMAIL_ADDRESS>Contact<EMAIL_ADDRESS><EMAIL_ADDRESS>Knight, Jeffrey A<EMAIL_ADDRESS>Kaplan, Mary<EMAIL_ADDRESS>Subject: RE: Review of Whole Industry Test Data, Coke Byproduct Chemical Plant Emissions, and Revised Clairton Byproducts Spreadsheet

Hello,

Thank you very much for your review on all the emissions files.
Below are the EPA responses and revised files attached.

Whole Industry Enc 1&2:
COETF Comment: It is our understanding that the lb/hr emission rates in the Erie Coke pushing test report already accounted for pushing sampling time.  It was just the dioxins and furans emission rates that we believe EPA needed to correct in the August 2020 version of the spreadsheet.
EPA Response: Re-reviewed industry's August 2020 and confirmed comment about adjusting for pushing was only for D/F emissions. Fixed the non-D/F emissions that were incorrectly adjusted.
No followup questions.
Revised file attached:
CokeOvens-Enclosure 1&2 QA-Whole IndustryTest Data-POST-Aug 2020_IndReview_2.15.2021.xlsx
Byproducts:
COETF Comment: For the Coke Byproducts Chemical Plant spreadsheet, we noted that we failed to include emissions from the Clairton aeration basin and byproducts pitch traps, which we have added.  Accordingly, we are including the revised stand-alone Clairton byproducts emissions spreadsheet that lists these emissions.  Please note that we have included these revised Clairton emissions in the "Clairton" tab of the industry byproducts spreadsheet.  The addition of these Clairton byproducts emissions was noted in the Coke 2017 EIS-NEI noncategory-other-units spreadsheet that Mary Kaplan is sending today, and we wanted to alert EPA of any inadvertent "double-counting" of these emissions.
EPA Response:
Thank you, will update file for Clairton revisions, industry averages, and final facility TPY values.
Will cross check the Coke 2017 EIS-NEI noncategory-other-units spreadsheet to delete any double counting of emissions.
No followup questions.
Revised file attached: Coke_Byproduct_Chemical Plant_Emissions_02-15-2021.xlsx
Method 303:
COETF Comment: We have no comments
EPA Response: Thank you for your final review.
Fugitive Pushing:
COETF Comment: We have no comments
EPA Response: Thank you for your final review.
The Whole industry Enc 1&2 file revisions resulted in changes to the foundry emission factors used in this file, updated values.
Revised file attached:
Coke_Fugitive_Pushing_02-15-2021.xlsx
Boilers:
COETF Comment: We have no comments
EPA Response: Thank you for your final review.
Flares:
COETF Comment: We have no comments
EPA Response: Thank you for your final review.

Thank you again for all your help!
Gabrielle

Gabrielle Raymond
she/her/hers
RTI International
3040 Cornwallis Road
P.O. Box 12194
Research Triangle Park, NC 27709
Phone:<PHONE_NUMBER>


[Federal Register Volume 87, Number 210 (Tuesday, November 1, 2022)]
[Notices]
[Pages 65849-65851]
[FR Doc No: 2022-23760]

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

DEPARTMENT OF TRANSPORTATION

Federal Motor Carrier Safety Administration

[Docket No. FMCSA-2015-0329; FMCSA-2016-0002; FMCSA-2017-0058; FMCSA-
2017-0059; FMCSA-2017-0061; FMCSA-2018-0135; FMCSA-2018-0138; FMCSA-
2020-0027]

Qualification of Drivers; Exemption Applications; Hearing

AGENCY: Federal Motor Carrier Safety Administration (FMCSA), Department
of Transportation (DOT).

ACTION: Notice of renewal of exemptions; request for comments.

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

SUMMARY: FMCSA announces its decision to renew exemptions for 23
individuals from the hearing requirement in the Federal Motor Carrier
Safety Regulations (FMCSRs) for interstate commercial motor vehicle
(CMV) drivers. The exemptions enable these hard of hearing and deaf
individuals to continue to operate CMVs in interstate commerce.

DATES: Each group of renewed exemptions were applicable on the dates
stated in the discussions below and will expire on the dates provided
below. Comments must be received on or before December 1, 2022.

ADDRESSES: You may submit comments identified by the Federal Docket
Management System Docket No. FMCSA-2015-0329, Docket No. FMCSA-2016-
0002, Docket No.

FMCSA-2017-0058, Docket No. FMCSA-2017-0059, Docket No. FMCSA-2017-
0061, Docket No. FMCSA-2018-0135, Docket No. FMCSA-2018-0138, or Docket
No. FMCSA-2020-0027 using any of the following methods:
     Federal eRulemaking Portal: Go to www.regulations.gov/,
insert the docket number, FMCSA-2015-0329, FMCSA-2016-0002, FMCSA-2017-
0058, FMCSA-2017-0059, FMCSA-2017-0061, FMCSA-2018-0135, FMCSA-2018-
0138, or FMCSA-2020-0027 in the keyword box, and click ``Search.''
Next, sort the results by ``Posted (Newer-Older),'' choose the first
notice listed, and click on the ``Comment'' button. Follow the online
instructions for submitting comments.
     Mail: Dockets Operations; U.S. Department of
Transportation, 1200 New Jersey Avenue SE, West Building, Ground Floor,
Room W12-140, Washington, DC 20590-0001.
     Hand Delivery: West Building, Ground Floor, Room W12-140,
1200 New Jersey Avenue SE, Washington, DC 20590-0001, between 9 a.m.
and 5 p.m., ET, Monday through Friday, except Federal Holidays.
     Fax:<PHONE_NUMBER>.
    To avoid duplication, please use only one of these four methods.
See the ``Public Participation'' portion of the SUPPLEMENTARY
INFORMATION section for instructions on submitting comments.

FOR FURTHER INFORMATION CONTACT: Ms. Christine A. Hydock, Chief,
Medical Programs Division,<PHONE_NUMBER>, [email protected], FMCSA,
DOT, 1200 New Jersey Avenue SE, Room W64-224, Washington, DC 20590-
0001. Office hours are from 8:30 a.m. to 5 p.m., ET, Monday through
Friday, except Federal holidays. If you have questions regarding
viewing or submitting material to the docket, contact Dockets
Operations,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

I. Public Participation

A. Submitting Comments

    If you submit a comment, please include the docket number for this
notice (Docket No. FMCSA-2015-0329, Docket No. FMCSA-2016-0002, Docket
No. FMCSA-2017-0058, Docket No. FMCSA-2017-0059, Docket No. FMCSA-2017-
0061, Docket No. FMCSA-2018-0135, Docket No. FMCSA-2018-0138, or Docket
No. FMCSA-2020-0027), indicate the specific section of this document to
which each comment applies, and provide a reason for each suggestion or
recommendation. You may submit your comments and material online or by
fax, mail, or hand delivery, but please use only one of these means.
FMCSA recommends that you include your name and a mailing address, an
email address, or a phone number in the body of your document so that
FMCSA can contact you if there are questions regarding your submission.
    To submit your comment online, go to www.regulations.gov, insert
the docket number, FMCSA-2015-0329, FMCSA-2016-0002, FMCSA-2017-0058,
FMCSA-2017-0059, FMCSA-2017-0061, FMCSA-2018-0135, FMCSA-2018-0138, or
FMCSA-2020-0027 in the keyword box, and click ``Search.'' Next, sort
the results by ``Posted (Newer-Older),'' choose the first notice
listed, click the ``Comment'' button, and type your comment into the
text box on the following screen. Choose whether you are submitting
your comment as an individual or on behalf of a third party and then
submit.
    If you submit your comments by mail or hand delivery, submit them
in an unbound format, no larger than 8\1/2\ by 11 inches, suitable for
copying and electronic filing. If you submit comments by mail and would
like to know that they reached the facility, please enclose a stamped,
self-addressed postcard or envelope.
    FMCSA will consider all comments and material received during the
comment period.

B. Viewing Comments

    To view comments go to www.regulations.gov. Insert the docket
number, FMCSA-2015-0329, FMCSA-2016-0002, FMCSA-2017-0058, FMCSA-2017-
0059, FMCSA-2017-0061, FMCSA-2018-0135, FMCSA-2018-0138, or FMCSA-2020-
0027 in the keyword box, and click ``Search.'' Next, sort the results
by ``Posted (Newer-Older),'' choose the first notice listed, and click
``Browse Comments.'' If you do not have access to the internet, you may
view the docket online by visiting Dockets Operations in Room W12-140
on the ground floor of the DOT West Building, 1200 New Jersey Avenue
SE, Washington, DC 20590-0001, between 9 a.m. and 5 p.m., ET, Monday
through Friday, except Federal holidays. To be sure someone is there to
help you, please call<PHONE_NUMBER> or<PHONE_NUMBER> before visiting
Dockets Operations.

C. Privacy Act

    In accordance with 49 U.S.C. 31315(b)(6), DOT solicits comments
from the public on the exemption request. DOT posts these comments,
without edit, including any personal information the commenter
provides, to www.regulations.gov. As described in the system of records
notice (DOT/ALL-14 FDMS), which can be reviewed at www.dot.gov/privacy,
the comments are searchable by the name of the submitter.

II. Background

    Under 49 U.S.C. 31136(e) and 31315(b), FMCSA may grant an exemption
from the FMCSRs for no longer than a 5-year period if it finds such
exemption would likely achieve a level of safety that is equivalent to,
or greater than, the level that would be achieved absent such
exemption. The statute also allows the Agency to renew exemptions at
the end of the 5-year period. FMCSA grants medical exemptions from the
FMCSRs for a 2-year period to align with the maximum duration of a
driver's medical certification.
    The physical qualification standard for drivers regarding hearing
found in 49 CFR 391.41(b)(11) states that a person is physically
qualified to drive a CMV if that person first perceives a forced
whispered voice in the better ear at not less than 5 feet with or
without the use of a hearing aid or, if tested by use of an audiometric
device, does not have an average hearing loss in the better ear greater
than 40 decibels at 500 Hz, 1,000 Hz, and 2,000 Hz with or without a
hearing aid when the audiometric device is calibrated to American
National Standard (formerly ASA Standard) Z24.5--1951.
    This standard was adopted in 1970 and was revised in 1971 to allow
drivers to be qualified under this standard while wearing a hearing
aid, 35 FR 6458, 6463 (Apr. 22, 1970) and 36 FR 12857 (July 3, 1971).
    The 23 individuals listed in this notice have requested renewal of
their exemptions from the hearing standard in Sec.  391.41(b)(11), in
accordance with FMCSA procedures. Accordingly, FMCSA has evaluated
these applications for renewal on their merits and decided to extend
each exemption for a renewable 2-year period.

III. Request for Comments

    Interested parties or organizations possessing information that
would otherwise show that any, or all, of these drivers are not
currently achieving the statutory level of safety should immediately
notify FMCSA. The Agency will evaluate any adverse evidence submitted
and, if safety is being compromised or if continuation of the exemption
would not be consistent with the goals and objectives of 49 U.S.C.
31136(e) and 31315(b), FMCSA

will take immediate steps to revoke the exemption of a driver.

IV. Basis for Renewing Exemptions

    In accordance with 49 U.S.C. 31136(e) and 31315(b), each of the 23
applicants has satisfied the renewal conditions for obtaining an
exemption from the hearing requirement. The 23 drivers in this notice
remain in good standing with the Agency. In addition, for commercial
driver's license (CDL) holders, the Commercial Driver's License
Information System and the Motor Carrier Management Information System
are searched for crash and violation data. For non-CDL holders, the
Agency reviews the driving records from the State Driver's Licensing
Agency. These factors provide an adequate basis for predicting each
driver's ability to continue to safely operate a CMV in interstate
commerce. Therefore, FMCSA concludes that extending the exemption for
each of these drivers for a period of 2 years is likely to achieve a
level of safety equal to that existing without the exemption.
    In accordance with 49 U.S.C. 31136(e) and 31315(b), the following
groups of drivers received renewed exemptions in the month of October
and are discussed below.
    As of October 13, 2022, and in accordance with 49 U.S.C. 31136(e)
and 31315(b), the following 14 individuals have satisfied the renewal
conditions for obtaining an exemption from the hearing requirement in
the FMCSRs for interstate CMV drivers:

Matthew Albrecht (PA)
Cory Adkins (FL)
Richard Blaine (PA)
Jacquelyn Hetherington (OK)
Agustin Hernandez (TX)
Andrew Hippler (ID)
Scott Lufkin (NC)
Paul Mansfield (KS)
Berenice Martinez (TX)
Jose Ramirez (IL)
Thomas Sneer (MN)
Daniel Stroud (UT)
Michael Sweet (GA)
Jason Wynne (TX)

    The drivers were included in docket number FMCSA-2015-0329, FMCSA-
2016-0002, FMCSA-2017-0058, FMCSA-2017-0059, FMCSA-2017-0061, FMCSA-
2018-0135, or FMCSA-2018-0138. Their exemptions were applicable as of
October 13, 2022 and will expire on October 13, 2024.
    As of October 30, 2022, and in accordance with 49 U.S.C. 31136(e)
and 31315(b), the following nine individuals have satisfied the renewal
conditions for obtaining an exemption from the hearing requirement in
the FMCSRs for interstate CMV drivers:

Adrian Almanza (IL)
Jimmy Benavides (TX)
James Bryan (AR)
William Heath (NC)
Kenneth Morrison (NY)
Darren Norton (MO)
Marty Posey (IN)
Anthony Vasquez (TX)
Daniel Zeolla (PA)

    The drivers were included in docket number FMCSA-2020-0027. Their
exemptions are applicable as of October 30, 2022 and will expire on
October 30, 2024.

V. Conditions and Requirements

    The exemptions are extended subject to the following conditions:
(1) each driver must report any crashes or accidents as defined in
Sec.  390.5; and (2) report all citations and convictions for
disqualifying offenses under 49 CFR 383 and 49 CFR 391 to FMCSA; and
(3) each driver prohibited from operating a motorcoach or bus with
passengers in interstate commerce. The driver must also have a copy of
the exemption when driving, for presentation to a duly authorized
Federal, State, or local enforcement official. In addition, the
exemption does not exempt the individual from meeting the applicable
CDL testing requirements. Each exemption will be valid for 2 years
unless rescinded earlier by FMCSA. The exemption will be rescinded if:
(1) the person fails to comply with the terms and conditions of the
exemption; (2) the exemption has resulted in a lower level of safety
than was maintained before it was granted; or (3) continuation of the
exemption would not be consistent with the goals and objectives of 49
U.S.C. 31136(e) and 31315(b).

VI. Preemption

    During the period the exemption is in effect, no State shall
enforce any law or regulation that conflicts with this exemption with
respect to a person operating under the exemption.

VII. Conclusion

    Based upon its evaluation of the 23 exemption applications, FMCSA
renews the exemptions of the aforementioned drivers from the hearing
requirement in Sec.  391.41(b)(11). In accordance with 49 U.S.C.
31136(e) and 31315(b), each exemption will be valid for two years
unless revoked earlier by FMCSA.

Larry W. Minor,
Associate Administrator for Policy.
[FR Doc. 2022-23760 Filed 10-31-22; 8:45 am]
BILLING CODE 4910-EX-P