[Federal Register Volume 82, Number 112 (Tuesday, June 13, 2017)]
[Notices]
[Pages 27061-27062]
[FR Doc No: 2017-12227]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings #1

    Take notice that the Commission received the following electric
rate filings:

    Docket Numbers: ER14-2140-006; ER14-2141-006;ER15-632-006 ER15-634-
006; ER14-2466-007; ER14-2465-007 ER15-1952-004; ER14-2939-004; ER15-
2728-006.
    Applicants: Mulberry Farm, LLC, Selmer Farm, LLC, CID Solar, LLC,
Cottonwood Solar, LLC, RE Camelot LLC, RE Columbia Two LLC, Pavant
Solar, LLC, Imperial Valley Solar Company (IVSC) 2, Maricopa West Solar
PV, LLC.
    Description: Supplement to April 26, 2017 Notice of Non-Material
Change in Status of the Dominion Companies.
    Filed Date: 6/7/17.
    Accession Number: 20170607-5022.
    Comments Due: 5 p.m. ET 6/28/17.

    Docket Numbers: ER17-1488-001.
    Applicants: PJM Interconnection, L.L.C.
    Description: Tariff Amendment: Errata to attachments for SA No.
2554, Queue No. Z1-087 submitted in ER17-1488 to be effective 1/9/2017.
    Filed Date: 6/6/17.
    Accession Number: 20170606-5151.
    Comments Due: 5 p.m. ET 6/27/17.

    Docket Numbers: ER17-1760-000.
    Applicants: Clean Energy Future--Lordstown, LLC.
    Description: Request for Limited Waiver and Expedited Action of
Clean Energy Future Lordstown, LLC.
    Filed Date: 6/6/17.
    Accession Number: 20170606-5087.
    Comments Due: 5 p.m. ET 6/20/17.

    Docket Numbers: ER17-1761-000.
    Applicants: Clean Energy Future--Lordstown, LLC.
    Description: Request for Limited Waiver and Expedited Action of
Clean Energy Future--Lordstown, LLC.
    Filed Date: 6/6/17.
    Accession Number: 20170606-5106.
    Comments Due: 5 p.m. ET 6/20/17.

    Docket Numbers: ER17-1762-000.
    Applicants: Mid-Atlantic Interstate Transmission, LLC, PJM
Interconnection, L.L.C.
    Description: Sec.  205(d) Rate Filing: MAIT submits Interconnection
Agreement SA No. 4562 to be effective 8/5/2017.
    Filed Date: 6/6/17.
    Accession Number: 20170606-5147.
    Comments Due: 5 p.m. ET 6/27/17.

    Docket Numbers: ER17-1763-000.
    Applicants: Playa Solar 1, LLC.
    Description: Sec.  205(d) Rate Filing: Amended and Restated Shared
Facilities Common Ownership Agreement to be effective 6/7/2017.
    Filed Date: 6/6/17.
    Accession Number: 20170606-5148.
    Comments Due: 5 p.m. ET 6/27/17.

    Docket Numbers: ER17-1764-000.
    Applicants: Playa Solar 2, LLC.
    Description: Sec.  205(d) Rate Filing: Amended and Restated Shared
Facilities Common Ownership Agreement to be effective 6/7/2017.
    Filed Date: 6/6/17.
    Accession Number: 20170606-5149.
    Comments Due: 5 p.m. ET 6/27/17.

    Docket Numbers: ER17-1765-000.
    Applicants: Public Service Company of Colorado.
    Description: Sec.  205(d) Rate Filing: 20170606 Grand Valley
Amended PPA to be effective 5/17/2017.
    Filed Date: 6/6/17.
    Accession Number: 20170606-5152.
    Comments Due: 5 p.m. ET 6/27/17.

    Docket Numbers: ER17-1766-000.
    Applicants: Avista Corporation.
    Description: Sec.  205(d) Rate Filing: Avista Corp Rate Schedule
No. T-0360 BPA WOH to be effective 6/7/2017.
    Filed Date: 6/6/17.
    Accession Number: 20170606-5153.
    Comments Due: 5 p.m. ET 6/27/17.

    Docket Numbers: ER17-1767-000.
    Applicants: Public Service Company of Colorado.
    Description: Sec.  205(d) Rate Filing: 20170606 Yampa Valley 2nd
Amended PPA to be effective 4/28/2017.

    Filed Date: 6/6/17.
    Accession Number: 20170606-5154.
    Comments Due: 5 p.m. ET 6/27/17.

    Docket Numbers: ER17-1768-000.
    Applicants: Public Service Company of Colorado.
    Description: Sec.  205(d) Rate Filing: 20170606 4th Amended IREA
PPA to be effective 4/28/2017.
    Filed Date: 6/6/17.
    Accession Number: 20170606-5155.
    Comments Due: 5 p.m. ET 6/27/17.

    Docket Numbers: ER17-1769-000.
    Applicants: Solar Star Oregon II, LLC.
    Description: Baseline eTariff Filing: Baseline new to be effective
12/31/9998.
    Filed Date: 6/6/17.
    Accession Number: 20170606-5156.
    Comments Due: 5 p.m. ET 6/27/17.

    Take notice that the Commission received the following qualifying
facility filings:

    Docket Numbers: QF17-1062-000.
    Applicants: UE-00501MD, LLC.
    Description: Form 556 of UE-00501MD, LLC.
    Filed Date: 6/5/17.
    Accession Number: 20170605-5117.
    Comments Due: None Applicable.

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

    Dated: June 7, 2017.
Kimberly D. Bose,
Secretary.
[FR Doc. 2017-12227 Filed 6-12-17; 8:45 am]
 BILLING CODE 6717-01-P


[Federal Register Volume 85, Number 144 (Monday, July 27, 2020)]
[Proposed Rules]
[Pages 45154-45155]
[FR Doc No: 2020-15649]

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ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 62

[EPA-R03-OAR-2019-0678; FRL-10011-93-Region 3]

Approval and Promulgation of State Plans for Designated
Facilities and Pollutants: City of Philadelphia and District of
Columbia

AGENCY: Environmental Protection Agency (EPA).

ACTION: Proposed rule.

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SUMMARY: The Environmental Protection Agency (EPA) is proposing to
approve negative declarations submitted to satisfy the requirements of
the Emission Guidelines and Compliance Times for Municipal Solid Waste
Landfills for the City of Philadelphia, located in the Commonwealth of
Pennsylvania, and the District of Columbia. The negative declarations
certify that there are no existing municipal solid waste landfills in
the City of Philadelphia or the District of Columbia that are subject
to the requirements of 40 CFR part 60 subpart Cf.

DATES: Written comments must be received on or before August 26, 2020.

ADDRESSES: Submit your comments, identified by Docket ID No. EPA-R03-
OAR-2019-0678 at https://www.regulations.gov, or via email to
<EMAIL_ADDRESS>For comments submitted at Regulations.gov,
follow the online instructions for submitting comments. Once submitted,
comments cannot be edited or removed from Regulations.gov. For either
manner of submission, EPA may publish any comment received to its
public docket. Do not submit electronically any information you
consider to be confidential business information (CBI) or other
information whose disclosure is restricted by statute. Multimedia
submissions (audio, video, etc.) must be accompanied by a written
comment. The written comment is considered the official comment and
should include discussion of all points you wish to make. EPA will
generally not consider comments or comment contents located outside of
the primary submission (i.e. on the web, cloud, or other file sharing
system). For additional submission methods, please contact the person
identified in the FOR FURTHER INFORMATION CONTACT section. For the full
EPA public comment policy, information about CBI or multimedia
submissions, and general guidance on making effective comments, please
visit https://www.epa.gov/dockets/commenting-epa-dockets.

FOR FURTHER INFORMATION CONTACT: Matthew Willson, Permits Branch
(3AD10), Air & Radiation Division, U.S. Environmental Protection
Agency, Region III, 1650 Arch Street, Philadelphia, Pennsylvania 19103.
The telephone number is<PHONE_NUMBER>. Mr. Willson can also be reached
via electronic mail at<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. Background

    Section 111(d) of the Clean Air Act (CAA) establishes standards of
performance for certain existing sources. Air pollutants included under
this section are those which have not already been established as air
quality criteria pollutants via 42 U.S.C. 7408(a) or hazardous air
pollutants via 42 U.S.C. 7412. Section 111(d)(1) requires states to
submit to EPA for approval a plan that establishes standards of
performance. The plan must provide that the state will implement and
enforce the standards of performance. A Federal plan is prescribed if a
state does not submit a state-specific plan or the submitted plan is
disapproved. If a state has no designated facilities for a standards of
performance source category, it may submit a negative declaration in
lieu of a state plan for that source category according to 40 CFR
60.23a(b) and 62.06.

II. Municipal Solid Waste Landfill Regulations

    A municipal solid waste (MSW) landfill is defined in 40 CFR 60.41f
as, ``an entire disposal facility in a contiguous geographical space
where household waste is placed in or on land.'' Other substances may
be placed in the landfill which are regulated under the Resource
Conservation and Recovery Act (RCRA) subtitle D, 40 CFR 257.2. MSW
landfills emit gases generated by the decomposition of organic
compounds or evolution of new organic compounds from the deposited
waste. EPA regulations specifically delineate measures to control
methane and nonmethane organic compound (NMOC) emissions, which can
adversely impact public health.
    The Emission Guidelines and Compliance Times for Municipal Solid
Waste Landfills, as codified at 40 CFR part 60 subpart Cf (subpart Cf,
or Emission Guidelines) apply to states with MSW landfills that
accepted waste after November 8, 1987 and commenced construction,
reconstruction, or modification before July 17, 2014. Such landfills
are considered to be ``existing'' landfills. In states with facilities
meeting the applicability criteria of an existing MSW landfill, the
Administrator of an air quality program must submit a state plan to EPA
that implements the Emission Guidelines.
    The City of Philadelphia Air Management Services (AMS) and the
District of Columbia Department of Energy and Environment (DOEE) have
determined that there are no MSW landfills in their respective
jurisdictions subject to Federal CAA landfill regulations pursuant to
part 40 CFR part 60 subpart Cf. AMS and DOEE have submitted negative
declarations to EPA on March 15, 2018 and November 15,

2019, respectively, pursuant to the requirements at 40 CFR 60.23a(b)
and 62.06, certifying that there are no existing source MSW landfills
in their respective jurisdictions subject to the requirements of 40 CFR
part 60 subpart Cf. A typographical error in the letter from AMS was
noted and clarified by Philadelphia AMS in an email on May 1, 2020

III. Proposed Action

    EPA is proposing to approve the City of Philadelphia's and the
District of Columbia's negative declarations. The negative declarations
satisfy the requirements of 40 CFR 60.23a(b) and 62.06, serving in lieu
of a CAA 111(d) state plan for existing MSW landfills. EPA is
soliciting public comments on the issues discussed in this document.
These comments will be considered before taking final action.

IV. Statutory and Executive Order Reviews

    Under the CAA, the Administrator is required to approve a 111(d)
plan submission that complies with the provisions of the CAA and
applicable Federal regulations (40 CFR 62.04). Thus, in reviewing
111(d) plan submissions, EPA's role is to approve state choices,
provided that they meet the criteria of the CAA. Accordingly, this
action merely approves state law as meeting Federal requirements and
does not impose additional requirements beyond those imposed by state
law. For that reason, this proposed action:
     Is not a significant regulatory action subject to review
by the Office of Management and Budget under Executive Orders 12866 (58
FR 51735, October 4, 1993) and 13563 (76 FR 3821, January 21, 2011);
     Is not an Executive Order 13771 regulatory action because
this action is not significant under Executive Order 12866;
     Does not impose an information collection burden under the
provisions of the Paperwork Reduction Act (44 U.S.C. 3501 et seq.);
     Is certified as not having a significant economic impact
on a substantial number of small entities under the Regulatory
Flexibility Act (5 U.S.C. 601 et seq.);
     Does not contain any unfunded mandate or significantly or
uniquely affect small governments, as described in the Unfunded
Mandates Reform Act of 1995 (Pub. L. 104-4);
     Does not have Federalism implications as specified in
Executive Order 13132 (64 FR 43255, August 10, 1999);
     Is not an economically significant regulatory action based
on health or safety risks subject to Executive Order 13045 (62 FR
19885, April 23, 1997);
     Is not a significant regulatory action subject to
Executive Order 13211 (66 FR 28355, May 22, 2001);
     Is not subject to requirements of section 12(d) of the
National Technology Transfer and Advancement Act of 1995 (15 U.S.C. 272
note) because application of those requirements would be inconsistent
with the Clean Air Act; and
     Does not provide EPA with the discretionary authority to
address, as appropriate, disproportionate human health or environmental
effects, using practicable and legally permissible methods, under
Executive Order 12898 (59 FR 7629, February 16, 1994).
    In addition, this proposed rulemaking, certifying that there are no
existing municipal solid waste landfills that are subject to the
requirements of 40 CFR part 60 subpart Cf in the City of Philadelphia
or the District of Columbia, does not have tribal implications as
specified by Executive Order 13175 (65 FR 67249, November 9, 2000),
because the SIP is not approved to apply in Indian country located in
the State, and EPA notes that it will not impose substantial direct
costs on tribal governments or preempt tribal law.

List of Subjects in 40 CFR Part 62

    Environmental protection, Administrative practice and procedure,
Air pollution control, Intergovernmental relations, Reporting and
recordkeeping requirements.

    Dated: July 13, 2020.
Cosmo Servidio,
Regional Administrator, Region III.
[FR Doc. 2020-15649 Filed 7-24-20; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register: August 25, 2009 (Volume 74, Number 163)]
[Notices]
[Page 42906-42907]
[DOCID:fr25au09-85]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

Joint Meeting of the Anesthetic and Life Support Drugs Advisory
Committee and the Drug Safety and Risk Management Advisory Committee;
Amendment of Notice

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice.

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    The Food and Drug Administration (FDA) is announcing an amendment
to the notice of a meeting of the Anesthetic and Life Support Drugs
Advisory Committee and the Drug Safety and Risk Management Advisory
Committee. This meeting was announced in the Federal

Register of August 11, 2009 (74 FR 40207). The amendment is being made
to reflect a change in the Agenda portion of the document. There are no
other changes.

FOR FURTHER INFORMATION CONTACT: Kalyani Bhatt, Center for Drug
Evaluation and Research (HFD-21), Food and Drug Administration, 5600
Fishers Lane, (for express delivery, 5630 Fishers Lane, rm. 1093),
Rockville, MD 20857,<PHONE_NUMBER>, FAX:<PHONE_NUMBER>, e-mail:
<EMAIL_ADDRESS>or FDA Advisory Committee Information Line,
1-800-741-8138<PHONE_NUMBER> in the Washington DC area), codes
3014512529 or<PHONE_NUMBER>. Please call the Information Line for up-to-
date information on this meeting.

SUPPLEMENTARY INFORMATION: In the Federal Register of August 11, 2009,
FDA announced that a meeting of the Anesthetic and Life Support Drugs
Advisory Committee and the Drug Safety and Risk Management Advisory
Committee would be held on September 23, 2009, from 8 a.m. to 4:30 p.m.
On page 40207, in the second column, the Agenda portion of the document
is changed to read as follows:
    Agenda: The committees will discuss new drug application (NDA) 21-
217, EXALGO (hydromorphone HC1), Neuromed Pharmaceuticals, Inc., a
modified-release hydromorphone drug product indicated for the treatment
of moderate-to-severe pain in opioid-tolerant patients.
    This notice is issued under the Federal Advisory Committee Act (5
U.S.C. app. 2) and 21 CFR part 14, relating to the advisory committees.

    Dated: August 19, 2009.
David Horowitz,
Assistant Commissioner for Policy.
[FR Doc. E9-20377 Filed 8-24-09; 8:45 am]

BILLING CODE 4160-01-S


[Federal Register Volume 84, Number 169 (Friday, August 30, 2019)]
[Notices]
[Pages 45816-45819]
[FR Doc No: 2019-18750]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-86760; File No. SR-NYSEArca-2019-33]

Self-Regulatory Organizations; NYSE Arca, Inc.; Order Instituting
Proceedings To Determine Whether To Approve or Disapprove a Proposed
Rule Change, as Modified by Amendment No. 1, Regarding Changes to
Investments of the First Trust TCW Unconstrained Plus Bond ETF

August 26, 2019.
    On May 6, 2019, NYSE Arca, Inc. (``NYSE Arca'' or ``Exchange'')
filed with the Securities and Exchange Commission (``Commission''),
pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ a proposed rule change to
modify investments of the First Trust TCW Unconstrained Plus Bond ETF,
the shares of which are currently listed and traded on the Exchange
pursuant to NYSE Arca Rule 8.600-E. On May 16, 2019, the Exchange filed
Amendment No. 1 to the proposed rule change. The proposed rule change,
as modified by Amendment No. 1, was published for comment in the
Federal Register on May 28, 2019.\3\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 85903 (May 21,
2019), 84 FR 24576 (``Notice'').
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    On July 3, 2019, pursuant to Section 19(b)(2) of the Act,\4\ the
Commission designated a longer period within which to approve the
proposed rule change, disapprove the proposed rule change, or institute
proceedings to determine whether to approve or disapprove the proposed
rule change.\5\ The Commission has received no comment letters on the
proposal. The Commission is publishing this order to institute
proceedings under Section 19(b)(2)(B) of the Act \6\ to determine
whether to approve or disapprove the proposed rule change.
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    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 86299, 84 FR 32804
(July 9, 2019). The Commission designated August 26, 2019, as the
date by which it should approve, disapprove, or institute
proceedings to determine whether to approve or disapprove the
proposed rule change.
    \6\ 15 U.S.C. 78s(b)(2)(B).
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I. Description of the Proposal 7
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    \7\ The Commission notes that additional information regarding,
among other things, the Shares, Fund, investment objective,
permitted investments, investment strategies and methodology,
investment restrictions, investment adviser and sub-adviser,
creation and redemption procedures, availability of information,
trading rules and halts, and surveillance procedures, can be found
in the Notice (see supra note 3) and the Registration Statement (see
infra note 8), as applicable.
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    The Exchange proposes to make certain changes to the investments of
the First Trust TCW Unconstrained Plus Bond ETF (``Fund''), the shares
(``Shares'') of which are currently listed and traded on the Exchange
under NYSE Arca Rule 8.600-E, which governs the listing and trading of
Managed Fund Shares on the Exchange. According to the Exchange, the
Shares of the Fund commenced trading on the Exchange on June 5, 2018
pursuant to the generic listing standards in Commentary .01 to NYSE
Arca Rule 8.600-E.
    The Shares are offered by First Trust Exchange-Traded Fund VIII
(``Trust''), which is registered with the Commission as an open-end
management investment company.\8\ The Fund is a series of the Trust.
First Trust Advisors L.P. is the investment adviser (``Adviser'') to
the Fund. TCW Investment Management Company LLC (``TCW'' or ``Sub-
Adviser''), serves as the Fund's investment sub-adviser.\9\ First Trust
Portfolios L.P. is the distributor for the Fund's Shares. The Bank of
New York Mellon acts as the administrator, custodian, and transfer
agent for the Fund.
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    \8\ The Exchange represents that the Trust is registered under
the Investment Company Act of 1940 (``1940 Act''). On May 29, 2018,
the Trust filed with the Commission its registration statement
(``Registration Statement'') on Form N-1A under the Securities Act
of 1933 and under the 1940 Act relating to the Fund (File Nos. 333-
210186 and 811-23147). In addition, the Exchange represents that the
Trust has obtained an order from the Commission granting certain
exemptive relief under the 1940 Act. See Investment Company Act
Release No. 30029 (April 10, 2012) (File No. 812-13795).
    \9\ According to the Exchange, the Adviser and Sub-Adviser are
not registered as broker-dealers. The Adviser is affiliated with
First Trust Portfolios L.P., a broker-dealer, and has implemented
and will maintain a fire wall with respect to its broker-dealer
affiliate regarding access to information concerning the composition
of, and/or changes to, the portfolio. The Sub-Adviser is affiliated
with multiple broker-dealers and has implemented and will maintain a
fire wall with respect to its broker-dealer affiliates regarding
access to information concerning the composition of, and/or changes
to, the portfolio. In the event (a) the Adviser or the Sub-Adviser
becomes registered as a broker-dealer or newly affiliated with a
broker-dealer, or (b) any new adviser or sub-adviser is a registered
broker-dealer or becomes affiliated with a broker-dealer, it will
implement and maintain a fire wall with respect to relevant
personnel and any broker-dealer affiliate regarding access to
information concerning the composition of, and/or changes to, the
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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A. Principal Investments of the Fund

    According to the Exchange, the investment objective of the Fund is
to seek to maximize long-term total return. Under normal market
conditions,\10\ the

Fund intends to invest at least 80% of its net assets (including
investment borrowings) in a portfolio of ``Fixed Income Securities''.
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    \10\ The term ``normal market conditions'' is defined in NYSE
Arca Rule 8.600-E(c)(5). On a temporary basis, including for
defensive purposes, during the initial invest-up period (i.e., the
six-week period following the commencement of trading of Shares on
the Exchange) and during periods of high cash inflows or outflows
(i.e., rolling periods of seven calendar days during which inflows
or outflows of cash, in the aggregate, exceed 10% of the Fund's net
assets as of the opening of business on the first day of such
periods), the Fund may depart from its principal investment
strategies; for example, it may hold a higher than normal proportion
of its assets in cash. During such periods, the Fund may not be able
to achieve its investment objective. The Fund may adopt a defensive
strategy when the Adviser and/or the Sub-Adviser believes securities
in which the Fund normally invests have elevated risks due to
market, political or economic factors and in other extraordinary
circumstances.
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    In managing the Fund's portfolio, TCW intends to employ a flexible
approach that allocates the Fund's investments across a range of global
investment opportunities and actively manage exposure to interest
rates, credit sectors, and currencies. TCW seeks to utilize
independent, bottom-up research to identify securities that are
undervalued and that offer a superior risk/return profile. Pursuant to
this investment strategy, the Fund may invest in the following Fixed
Income Securities, which may be represented by derivatives relating to
such securities, as discussed below:
     Securities issued or guaranteed by the U.S. government or
its agencies, instrumentalities, or U.S. government-sponsored entities
(``U.S. government securities'');
     Treasury Inflation Protected Securities (``TIPS'');
     the following non-agency, non-government-sponsored entity
(``GSE''), and privately-issued mortgage-related and other asset-backed
securities: Residential mortgage-backed securities (``RMBS''),
commercial mortgage-backed securities (``CMBS''), asset-backed
securities (``ABS''), and collateralized loan obligations (``CLOs''
and, together with such RMBS, CMBS, and ABS, collectively, ``Private
ABS/MBS''); \11\
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    \11\ In the Notice, the Exchange states that ``Private ABS/MBS''
are non-agency, non-GSE, and privately-issued mortgage-related and
other asset-backed securities as stated in Commentary .01(b)(5) to
NYSE Arca Rule 8.600-E.
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     Agency RMBS, agency CMBS, and agency ABS;
     domestic corporate bonds;
     Fixed Income Securities issued by non-U.S. corporations
and non-U.S. governments;
     bank loans, including first lien senior secured floating
rate bank loans (``Senior Loans''), secured and unsecured loans, second
lien or more junior loans, and bridge loans;
     fixed income convertible securities;
     fixed income preferred securities; and
     municipal bonds.
    In addition, the Fund may invest in agency RMBS and CMBS by
investing in to-be-announced transactions. The Fund may hold cash and
cash equivalents,\12\ as well as the following short-term instruments
with maturities of three months or more: Certificates of deposit;
bankers' acceptances; repurchase agreements and reverse repurchase
agreements; bank time deposits; and commercial paper. The Fund also may
enter into short sales of any securities in which the Fund may invest.
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    \12\ According to the Exchange, cash equivalents are the short-
term instruments with maturities of less than 3 months enumerated in
Commentary .01(c) to NYSE Arca Rule 8.600-E.
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    The Fund may utilize exchange-listed and over-the-counter (``OTC'')
traded derivatives instruments for duration/yield curve management and/
or hedging purposes, for risk management purposes, or as part of its
investment strategies. The Fund will use derivative instruments
primarily to hedge interest rate risk, actively manage interest rate
exposure, hedge foreign currency risk, and actively manage foreign
currency exposure. The Fund may also use derivative instruments to
enhance returns, as a substitute for, or to gain exposure to, a
position in an underlying asset, to reduce transaction costs, to
maintain full market exposure, to manage cash flows, or to preserve
capital. Derivatives may also be used to hedge risks associated with
the Fund's other portfolio investments. The Fund will not use
derivative instruments to gain exposure to Private ABS/MBS, and
derivative instruments linked to such securities will be used for
hedging purposes only. Derivatives that the Fund may enter into are the
following: Futures on interest rates, currencies, Fixed Income
Securities, and fixed income indices; exchange-traded and OTC options
on interest rates, currencies, Fixed Income Securities, and fixed
income indices; swap agreements on interest rates, currencies, Fixed
Income Securities, and fixed income indices; credit default swaps; and
currency forward contracts.

B. Other Investments of the Fund

    While the Fund, under normal market conditions, invests at least
80% of its net assets in the Principal Investments described above, the
Fund may invest its remaining assets in the following ``Non-Principal
Investments.''
    The Fund may invest in exchange-traded common stock, exchange-
traded preferred stock, exchange-traded real estate investment trusts
(``REITs''), and securities of other investment companies registered
under the 1940 Act, including money market funds, exchange-traded funds
(``ETFs''), open-end funds (other than money market funds and other
ETFs), and U.S. exchange-traded closed-end funds.\13\ In addition, the
Fund may hold exchange-traded notes (``ETNs''),\14\ exchange-traded or
OTC ``Work Out Securities,'' \15\ and exchange-traded or OTC equity
securities issued upon conversion of fixed income convertible
securities.
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    \13\ According to the Exchange, the term ``ETFs'' are Investment
Company Units (as described in NYSE Arca Rule 5.2-E(j)(3));
Portfolio Depositary Receipts (as described in NYSE Arca Rule 8.100-
E); and Managed Fund Shares (as described in NYSE Arca Rule 8.600-
E). All ETFs will be listed and traded in the U.S. on a national
securities exchange. While the Fund may invest in inverse ETFs, the
Fund will not invest in leveraged (e.g., 2X, -2X, 3X, or -3X) ETFs.
    \14\ ETNs are Index-Linked Securities (as described in NYSE Arca
Rule 5.2-E(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).
    \15\ According to the Exchange, For purposes of this filing,
Work Out Securities are U.S. or foreign equity securities of any
type acquired in connection with restructurings related to issuers
of Fixed Income Securities held by the Fund. Work Out Securities are
generally traded OTC, but may be traded on a U.S. or foreign
exchange.
---------------------------------------------------------------------------

C. Investment Restrictions of the Fund 16
---------------------------------------------------------------------------

    \16\ The Exchange represents that the Fund will not invest in
securities or other financial instruments that have not been
described in the Notice.
---------------------------------------------------------------------------

    As stated in the Notice, the Fund proposes to not invest more than
2% of its total assets in any one Fixed Income Security (excluding U.S.
government securities and TIPS) on a per CUSIP basis. The Fund's
holdings in derivative instruments for hedging purposes would be
excluded from the determination of compliance with this 2% limitation.
The total gross notional value of the Fund's holdings in derivative
instruments used to gain exposure to a specific asset is limited to 2%
of the Fund's total assets.
    Additionally, the Fund proposes to invest up to 50% of its total
assets in the aggregate in Private ABS/MBS, provided that the Fund (1)
may not invest more than 30% of its total assets in non-agency RMBS;
(2) may not invest more than 25% of its total assets in non-agency CMBS
and CLOs; and (3) may not invest more than 25% of its total assets in
non-agency ABS.
    With respect to the Fund's investments in up to 30% of its total
assets in Private ABS/MBS that exceed the 20% of the weight of the
fixed income portion of the Fund's portfolio that may be invested in
Private ABS/

MBS under Commentary .01(b)(5) to NYSE Arca Rule 8.600-E,\17\ the
following restrictions will apply:
---------------------------------------------------------------------------

    \17\ Commentary .01(b)(5) to NYSE Arca Rule 8.600-E provides
that non-agency, non-GSE, and privately-issued mortgage-related and
other asset-backed securities components of a portfolio shall not
account, in the aggregate, for more than 20% of the weight of the
fixed income portion of the portfolio.
---------------------------------------------------------------------------

     Non-agency RMBS shall have an average loan maturity of 84
months or more;
     Non-agency CMBS and CLOs shall have an average loan
maturity of 60 months or more; and
     Non-agency ABS shall have an average loan maturity of 12
months or more.\18\
---------------------------------------------------------------------------

    \18\ Information relating to average loan maturity for non-
agency RMBS, non-agency CMBS, CLOs, and non-agency ABS is widely
available from major market data vendors such as Bloomberg.
---------------------------------------------------------------------------

    The Exchange proposes that up to 25% of the Fund's assets may be
invested in OTC derivatives that are used to reduce currency, interest
rate, or credit risk arising from the Fund's investments. The Fund's
investments in OTC derivatives other than OTC derivatives used to hedge
the Fund's portfolio against currency, interest rate, or credit risk
will be limited to 20% of the assets in the Fund's portfolio. For
purposes of these percentage limitations on OTC derivatives, the weight
of such OTC derivatives will be calculated as the aggregate gross
notional value of such OTC derivatives.
    The Fund's holdings of bank loans will not exceed 15% of the Fund's
total assets, and the Fund's holdings of bank loans other than Senior
Loans will not exceed 5% of the Fund's total assets.
    The Fund's holdings in fixed income convertible securities and in
equity securities issued upon conversion of such convertible securities
will not exceed 10% of the Fund's total assets.
    The Fund's holdings in Work Out Securities will not exceed 5% of
the Fund's total assets.
    The Fund's investments, including derivatives, will be consistent
with the Fund's investment objective and will not be used to enhance
leverage (although certain derivatives and other investments may result
in leverage). That is, the Fund's investments will not be used to seek
performance that is the multiple or inverse multiple (e.g., 2X or -3X)
of the Fund's primary broad-based securities benchmark index (as
defined in Form N-1A).

D. Impact on Arbitrage Mechanism

    According to the Exchange, the Adviser and the Sub-Adviser believe
there will be minimal, if any, impact to the arbitrage mechanism as a
result of the Fund's use of derivatives and Private ABS/MBS. The
Adviser and the Sub-Adviser understand that market makers and
participants should be able to value derivatives and Private ABS/MBS as
long as the positions are disclosed with relevant information. The
Adviser and the Sub-Adviser believe that the price at which Shares of
the Fund trade will continue to be disciplined by arbitrage
opportunities created by the ability to purchase or redeem Shares of
the Fund at their net asset value (``NAV''), which should ensure that
Shares of the Fund will not trade at a material discount or premium in
relation to their NAV.
    The Adviser and Sub-Adviser do not believe there will be any
significant impacts to the settlement or operational aspects of the
Fund's arbitrage mechanism due to the use of derivatives and Private
ABS/MBS.

E. The Proposed Modifications to the Shares' Listing Rule

    The Exchange represents, among other things, that the Fund will not
comply with the requirement in Commentary .01(b)(1) to NYSE Arca Rule
8.600-E that components that in the aggregate account for at least 75%
of the fixed income weight of the portfolio each shall have a minimum
original principal amount outstanding of $100 million or more. Instead,
the Exchange proposes that components that in the aggregate account for
at least 50% of the fixed income weight of the portfolio each shall
have a minimum original principal amount outstanding of $50 million or
more. As noted above, the Fund may not invest more than 2% of its total
assets in any one Fixed Income Security (excluding U.S. government
securities and TIPS) on a per CUSIP basis. In addition, at least 50% of
the weight of the Fund's portfolio would continue to be subject to a
substantial minimum (i.e., $50 million) original principal amount
outstanding. The Exchange believes this limitation would provide
significant additional diversification to the Fund's investments in
Fixed Income Securities, and reduce concerns that the Fund's
investments in such securities would be readily susceptible to market
manipulation.
    The Exchange also represents that the Fund will not comply with the
requirements in Commentary .01(b)(4) to NYSE Arca Rule 8.600-E that
component securities that in the aggregate account for at least 90% of
the fixed income weight of the portfolio meet one of the criteria
specified in Commentary .01(b)(4), because certain Private ABS/MBS
cannot satisfy the criteria in Commentary .01(b)(4).\19\ Instead, the
Exchange proposes that the Fund's investments in Fixed Income
Securities other than Private ABS/MBS will be required to comply with
the requirements of Commentary .01(b)(4). As noted above, the Fund may
not invest more than 2% of its total assets in any one Fixed Income
Security (excluding U.S. government securities and TIPS) on a per CUSIP
basis. The Exchange believes this limitation would provide additional
diversification to the Fund's investments in Private ABS/MBS, and
reduce concerns that the Fund's investment in such securities would be
readily susceptible to market manipulation.
---------------------------------------------------------------------------

    \19\ See Commentary .01(b)(4) to NYSE Arca Rule 8.600-E.
---------------------------------------------------------------------------

    Finally, the Exchange represents that the Fund will not comply with
the requirement in Commentary .01(b)(5) to NYSE Arca Rule 8.600-E that
Private ABS/MBS in the Fund's portfolio account, in the aggregate, for
no more than 20% of the weight of the fixed income portion of the
Fund's portfolio.\20\ The Exchange proposes that, in order to enable
the portfolio to be more diversified and provide the Fund with an
opportunity to earn higher returns, the Fund may invest up to 50% of
its total assets in the aggregate in Private ABS/MBS, consistent with
the investment restrictions proposed above. The Exchange believes these
limitations would provide additional diversification to the Fund's
Private ABS/MBS investments and reduce concerns that the Fund's
investment in such securities would be readily susceptible to market
manipulation.
---------------------------------------------------------------------------

    \20\ See note 17, supra.
---------------------------------------------------------------------------

    The Exchange notes that, other than the exceptions proposed in the
Notice, the Fund's portfolio will meet all other requirements of NYSE
Arca Rule 8.600-E.

II. Proceedings To Determine Whether To Approve or Disapprove SR-
NYSEArca-2019-33, as Modified by Amendment No. 1, and Grounds for
Disapproval Under Consideration

    The Commission is instituting proceedings pursuant to Section
19(b)(2)(B) of the Act \21\ to determine whether the proposed rule
change should be approved or disapproved. Institution of such
proceedings is appropriate at this time in view of the legal and policy
issues raised by the proposed rule change. Institution of proceedings
does not indicate that the Commission has reached any conclusions with
respect to any of the

issues involved. Rather, as described below, the Commission seeks and
encourages interested persons to provide comments on the proposed rule
change.
---------------------------------------------------------------------------

    \21\ 15 U.S.C. 78s(b)(2)(B).
---------------------------------------------------------------------------

    Pursuant to Section 19(b)(2)(B) of the Act,\22\ the Commission is
providing notice of the grounds for disapproval under consideration.
The Commission is instituting proceedings to allow for additional
analysis of the proposed rule change's consistency with Section 6(b)(5)
of the Act, which requires, among other things, that the rules of a
national securities exchange be ``designed to prevent fraudulent and
manipulative acts and practices, to promote just and equitable
principles of trade, and ``to protect investors and the public
interest.'' \23\
---------------------------------------------------------------------------

    \22\ Id.
    \23\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Commission asks that commenters address the sufficiency of the
Exchange's statements in support of the proposal, which are set forth
in the Notice,\24\ in addition to any other comments they may wish to
submit about the proposed rule change. In particular, the Commission
seeks comment on the following questions and asks commenters to submit
data where appropriate to support their views.
---------------------------------------------------------------------------

    \24\ See Notice, supra note 3.
---------------------------------------------------------------------------

    If the listing rules for the Shares were amended as proposed,
including the average loan maturity thresholds for Private ABS/MBS,
would the listing rule continue to ensure that a substantial portion of
the Fund's portfolio consists of Fixed Income Securities for which
information is publicly available? If not, are there reasons why it may
not be necessary that information be publicly available for Private
ABS/MBS (as distinguished from other types of Fixed Income Securities)?
    Has the Exchange adequately supported the use of the proposed
average loan maturity thresholds for Private ABS/MBS? Why or why not?
What further information regarding these thresholds would be useful to
market participants?
    Does the Fund's proposal to not invest more than 2% of its total
assets in any one Fixed Income Security on a per CUSIP basis mitigate
concerns that the Fund's investment in such securities would be readily
susceptible to market manipulation. Why or why not?
    Would the proposed increased investments in Private ABS/MBS by the
Fund increase the susceptibility of the Shares to manipulation? If so,
why; if not, why not? If the Fund's permitted investments were expanded
to the extent proposed, would any other restrictions on the Fund's
permitted investments be appropriate in order for the proposed rule
change to be consistent with Section 6(b)(5) of the Act?

III. Procedure: Request for Written Comments

    The Commission requests that interested persons provide written
submissions of their views, data, and arguments with respect to the
issues identified above, as well as any other concerns they may have
with the proposal. In particular, the Commission invites the written
views of interested persons concerning whether the proposal is
consistent with Section 6(b)(5) or any other provision of the Act, or
the rules and regulations thereunder. Although there do not appear to
be any issues relevant to approval or disapproval that would be
facilitated by an oral presentation of views, data, and arguments, the
Commission will consider, pursuant to Rule 19b-4, any request for an
opportunity to make an oral presentation.\25\
---------------------------------------------------------------------------

    \25\ Section 19(b)(2) of the Act, as amended by the Securities
Acts Amendments of 1975, Public Law 94-29 (June 4, 1975), grants the
Commission flexibility to determine what type of proceeding--either
oral or notice and opportunity for written comments--is appropriate
for consideration of a particular proposal by a self-regulatory
organization. See Securities Acts Amendments of 1975, Senate Comm.
on Banking, Housing & Urban Affairs, S. Rep. No. 75, 94th Cong., 1st
Sess. 30 (1975).
---------------------------------------------------------------------------

    Interested persons are invited to submit written data, views, and
arguments regarding whether the proposal should be approved or
disapproved by September 20, 2019. Any person who wishes to file a
rebuttal to any other person's submission must file that rebuttal by
October 4, 2019. The Commission asks that commenters address the
sufficiency of the Exchange's statements in support of the proposal, in
addition to any other comments they may wish to submit about the
proposed rule change.
    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-2019-33 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-2019-33. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549 on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of the filing also will be available for inspection
and copying at the principal office of the Exchange. All comments
received will be posted without change. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-NYSEArca-2019-33 and should be submitted
by September 20, 2019. Rebuttal comments should be submitted by October
4, 2019.
---------------------------------------------------------------------------

    \26\ 17 CFR 200.30-3(a)(57).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\26\
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-18750 Filed 8-29-19; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 80, Number 47 (Wednesday, March 11, 2015)]
[Notices]
[Page 12843]
[FR Doc No: 2015-05631]

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SECURITIES AND EXCHANGE COMMISSION

Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the
Government in the Sunshine Act, Public Law 94-409, that the Securities
and Exchange Commission will hold a Closed Meeting on Thursday, March
12, 2015 at 2:00 p.m.
    Commissioners, Counsel to the Commissioners, the Secretary to the
Commission, and recording secretaries will attend the Closed Meeting.
Certain staff members who have an interest in the matters also may be
present.
    The General Counsel of the Commission, or her designee, has
certified that, in her opinion, one or more of the exemptions set forth
in 5 U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) and 17 CFR
200.402(a)(3), (5), (7), 9(ii) and (10), permit consideration of the
scheduled matter at the Closed Meeting.
    Commissioner Gallagher, as duty officer, voted to consider the
items listed for the Closed Meeting in closed session, and determined
that no earlier notice thereof was possible.
    The subject matter of the Closed Meeting will be:
    Institution and settlement of injunctive actions;
    Institution and settlement of administrative proceedings;
    Resolution of litigation claims; and
    Other matters relating to enforcement proceedings.
    At times, changes in Commission priorities require alterations in
the scheduling of meeting items.
    For further information and to ascertain what, if any, matters have
been added, deleted or postponed, please contact the Office of the
Secretary at<PHONE_NUMBER>.

    Dated: March 6, 2015.
Brent J. Fields,
Secretary.
[FR Doc. 2015-05631 Filed 3-9-15; 4:15 pm]
 BILLING CODE 8011-01-P


[Federal Register Volume 79, Number 237 (Wednesday, December 10, 2014)]
[Notices]
[Pages 73288-73289]
[FR Doc No: 2014-28863]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings #1

    Take notice that the Commission received the following electric
rate filings:

    Docket Numbers: ER14-2742-000; ER14-2743-000; ER14-2744-000.
    Applicants: Central Maine Power Company.
    Description: eTariff filing per 35.19a(b): Refund Report to be
effective N/A.
    Filed Date: 12/2/14.
    Accession Number: 20141202-5152.
    Comments Due: 5 p.m. ET 12/23/14.

    Docket Numbers: ER14-2824-001.
    Applicants: California Independent System Operator Corporation.
    Description: Compliance filing per 35: 2014-12-03 Pro
Forma_APSA_Compliance to be effective 11/10/2014.
    Filed Date: 12/3/14.
    Accession Number: 20141203-5105.
    Comments Due: 5 p.m. ET 12/24/14.

    Docket Numbers: ER15-559-000.
    Applicants: Pacific Gas and Electric Company.
    Description: Sec.  205(d) rate filing per 35.13(a)(2)(iii):
Transmission Access Charge Balancing Account Adjustment (TACBAA) 2015
to be effective 3/1/2015.
    Filed Date: 12/3/14.
    Accession Number: 20141203-5009.
    Comments Due: 5 p.m. ET 12/24/14.

    Docket Numbers: ER15-560-000.
    Applicants: Duke Energy Florida, Inc.
    Description: Sec.  205(d) rate filing per 35.13(a)(2)(iii):
Amendment of FMPA NITSA SA No. 148 to be effective 1/1/2015.
    Filed Date: 12/3/14.
    Accession Number: 20141203-5049.
    Comments Due: 5 p.m. ET 12/24/14.

    Docket Numbers: ER15-561-000.
    Applicants: Southwestern Public Service Company.
    Description: Sec.  205(d) rate filing per 35.13(a)(2)(iii): 12-3-
14_RS114-117,137-Ministerial to be effective 1/1/2014.
    Filed Date: 12/3/14.
    Accession Number: 20141203-5058.
    Comments Due: 5 p.m. ET 12/24/14.

    Docket Numbers: ER15-562-000.
    Applicants: Southwestern Public Service Company.
    Description: Sec.  205(d) rate filing per 35.13(a)(2)(iii): 12-3-
14_RS135-Ministerial to be effective 1/1/2014.
    Filed Date: 12/3/14.
    Accession Number: 20141203-5059.
    Comments Due: 5 p.m. ET 12/24/14.

    Docket Numbers: ER15-563-000.
    Applicants: New York Independent System Operator, Inc.
    Description: Sec.  205(d) rate filing per 35.13(a)(2)(iii): NYISO
205 filing re: blackstart and system restoration service to be
effective 2/1/2015.
    Filed Date: 12/3/14.
    Accession Number: 20141203-5121.
    Comments Due: 5 p.m. ET 12/24/14.

    Docket Numbers: ER15-564-000.
    Applicants: PJM Interconnection, L.L.C.
    Description: Sec.  205(d) rate filing per 35.13(a)(2)(iii): Service
Agreement No. 3185; Queue No. W4-046 to be effective 11/10/2014.

    Filed Date: 12/3/14.
    Accession Number: 20141203-5135.
    Comments Due: 5 p.m. ET 12/24/14.

    Docket Numbers: ER15-565-000.
    Applicants: Midcontinent Independent System Operator, Inc.,
American Transmission Systems, Incorporated.
    Description: Sec.  205(d) rate filing per 35.13(a)(2)(iii): 2014-
12-03_SA 2715 ATC-OREA FCA to be effective 1/18/2015.
    Filed Date: 12/3/14.
    Accession Number: 20141203-5139.
    Comments Due: 5 p.m. ET 12/24/14.

    Docket Numbers: ER15-566-000.
    Applicants: Midcontinent Independent System Operator, Inc.,
American Transmission Systems, Incorporated.
    Description: Sec.  205(d) rate filing per 35.13(a)(2)(iii): 2014-
12-03_SA 2716 ATC-Ontonagon County D-TIA to be effective 9/1/2015.
    Filed Date: 12/3/14.
    Accession Number: 20141203-5143.
    Comments Due: 5 p.m. ET 12/24/14.

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

    Dated: December 3, 2014.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2014-28863 Filed 12-9-14; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 80, Number 149 (Tuesday, August 4, 2015)]
[Notices]
[Page 46368]
[FR Doc No: 2015-18885]

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SECURITIES AND EXCHANGE COMMISSION

Proposed Collection; Comment Request

ACTION: 60-Day notice of submission of information collection approval
from the Office of Management and Budget and request for comments.

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

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

New Generic ICR: Generic Clearance for the Collection of Qualitative
Feedback on Agency Service Delivery.
    SEC File No. 270-789, OMB Control No. 3235-XXXX.

SUMMARY: As part of a Federal Government-wide effort to streamline the
process to seek feedback from the public on service delivery, the
Securities and Exchange Commission has submitted a Generic Information
Collection Request (Generic ICR): ``Generic Clearance for the
Collection of Qualitative Feedback on Agency Service Delivery '' to OMB
for approval under the Paperwork Reduction Act (PRA) (44 U.S.C. 3501
et. seq.).

SUPPLEMENTARY INFORMATION:
    Title: Generic Clearance for the Collection of Qualitative Feedback
on Agency Service Delivery.
    Abstract: The information collection activity will garner
qualitative customer and stakeholder feedback in an efficient, timely
manner, in accordance with the Administration's commitment to improving
service delivery. By qualitative feedback we mean information that
provides useful insights on perceptions and opinions, but are not
statistical surveys that yield quantitative results that can be
generalized to the population of study. This feedback will provide
insights into customer or stakeholder perceptions, experiences and
expectations, provide an early warning of issues with service, or focus
attention on areas where communication, training or changes in
operations might improve delivery of products or services. These
collections will allow for ongoing, collaborative and actionable
communications between the Agency and its customers and stakeholders.
It will also allow feedback to contribute directly to the improvement
of program management.
    Feedback collected under this generic clearance will provide useful
information, but it will not yield data that can be generalized to the
overall population. This type of generic clearance for qualitative
information will not be used for quantitative information collections
that are designed to yield reliably actionable results, such as
monitoring trends over time or documenting program performance. Such
data uses require more rigorous designs that address: the target
population to which generalizations will be made, the sampling frame,
the sample design (including stratification and clustering), the
precision requirements or power calculations that justify the proposed
sample size, the expected response rate, methods for assessing
potential non-response bias, the protocols for data collection, and any
testing procedures that were or will be undertaken prior fielding the
study. Depending on the degree of influence the results are likely to
have, such collections may still be eligible for submission for other
generic mechanisms that are designed to yield quantitative results.
    Below is the projected average estimates for the next three years:
    Current Actions: New collection of information.
    Type of Review: New Collection.
    Expected Annual Number of activities: [10].
    Respondents: [20,000].
    Annual responses: [20,000].
    Frequency of Response: Once per request.
    Average minutes per response: [10].
    Burden hours: [3500].
    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 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: July 28, 2015.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-18885 Filed 8-3-15; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: September 30, 2008 (Volume 73, Number 190)]
[Notices]
[Page 56872-56876]
[DOCID:fr30se08-104]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-58626; File No. SR-FINRA-2008-046]

Self-Regulatory Organizations; Financial Industry Regulatory
Authority, Inc.; Notice of Filing of Proposed Rule Change, and
Amendment No. 1 Thereto, To Amend the By-Laws of FINRA Regulation To
Realign the Representation of Industry Members on the National
Adjudicatory Council To Follow More Closely the Categories of Industry
Representation on the FINRA Board

September 23, 2008.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on September 8, 2008, Financial Industry Regulatory Authority, Inc.
(``FINRA,'' f/k/a National Association of Securities Dealers, Inc.
(``NASD'')) filed with the Securities and Exchange Commission (``SEC''
or ``Commission'') the proposed rule change as described in Items I,
II, and III below, which Items have been substantially prepared by
FINRA. On September 17, 2008, FINRA filed Amendment No. 1 to the
proposed rule change. The Commission is publishing this notice to
solicit comments on the proposed rule change, as amended, from
interested persons.
---------------------------------------------------------------------------

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

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

    FINRA is proposing to amend the By-Laws of FINRA's regulatory
subsidiary (``FINRA Regulation'') to realign the representation of
industry members on the National Adjudicatory Council (``NAC'') to
follow more closely the industry representation on the FINRA Board of
Governors (``FINRA Board''), to eliminate the Regional Nominating
Committees, to transfer such committees' responsibilities for NAC
industry appointments to the FINRA Nominating Committee (``Nominating
Committee''), and to change the name of ``NASD Regulation'' and
``NASD'' to

``FINRA Regulation'' and ``FINRA'' respectively. The text of the
proposed rule change is available at FINRA, on its Web site (http://
www.finra.org), 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, FINRA included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. FINRA has prepared summaries, set forth in sections A,
B, and C below, of the most significant aspects of such statements.

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

1. Purpose
Background on FINRA and Its Regulatory Subsidiary
    On July 30, 2007, NASD and the New York Stock Exchange consolidated
their member firm regulation operations into a combined organization,
FINRA. As part of the consolidation, the SEC approved amendments to the
NASD By-Laws to implement governance and related changes.\3\ The
approved changes included a FINRA Board governance structure that
balanced public and industry representation and designated seven
governor seats to represent member firms of various sizes based on the
criteria of firm size.
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    \3\ See Securities Exchange Act Release No. 56145 (July 26,
2007), 72 FR 42169 (August 1, 2007), as amended by Securities
Exchange Act Release No. 56145A (May 30, 2008), 73 FR 32377 (June 6,
2008) (File No. SR-NASD-2007-023).
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    FINRA Regulation (formerly known as NASD Regulation) is a
subsidiary of FINRA that operates according to the Plan of Allocation
and Delegation of Functions by NASD to Subsidiaries, as amended, which
NASD adopted first in 1996 when it formed NASD Regulation. FINRA
Regulation's By-Laws were not amended at the time of the consolidation,
other than in a few sections where those By-Laws conflicted with the
new FINRA By-Laws.
    The proposed rule change would modify the FINRA Regulation By-Laws
to: Restructure the industry representation on the NAC to parallel the
firm-size criteria for industry representation on the FINRA Board;
modify the nomination process for certain industry member seats on the
NAC by using the Nominating Committee and discontinuing the Regional
Nominating Committees; and adopt conforming changes to reflect the
corporate name change and similar matters.\4\
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    \4\ The proposed rule change would revise, delete, and/or
renumber various provisions of the FINRA Regulation By-Laws.
Renumbered sections are referred to herein as ``proposed FINRA
Regulation By-Laws.'' All other sections (that is, sections for
which new numbering did not result from the proposed revisions) are
referred to as ``current FINRA Regulation By-Laws.''
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The National Adjudicatory Council
    The NAC is appointed pursuant to the FINRA Regulation By-Laws to
review all disciplinary decisions issued by Hearing Panels and presides
over disciplinary matters that have been appealed to or called for
review by the NAC. The NAC also reviews statutory disqualification
matters and considers appeals of membership proceedings and exemption
requests.\5\
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    \5\ See current FINRA Regulation By-Laws, Article V, Section 5.1
(Appointment and Authority).
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    Under current FINRA Regulation By-Law provisions, the NAC must
consist of no fewer than 12 and no more than 14 members.\6\ The number
of non-industry members, including at least three public members, must
equal or exceed the number of industry members.\7\ Since 1999, each of
five geographic regions, which had been established by the NASD Board
of Governors, has been represented on the NAC. Non-industry members of
the NAC and two ``at-large'' industry members currently are nominated
to serve on the NAC by the Nominating Committee and then appointed by
the FINRA Regulation Board.\8\ The five industry members of the NAC who
are drawn from the five geographic regions are first selected through
Regional Nominating Committees (through either an uncontested or a
contested nomination process), then nominated by the Nominating
Committee, and finally appointed by the FINRA Regulation Board.
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    \6\ The 2008 NAC consists of 14 members, and the NAC has had no
fewer than 14 members consistently for many years. To reflect past
practices, the proposed rule change would eliminate the 12 to 14
member range currently indicated in the FINRA Regulation By-Laws and
state instead that the NAC shall consist of 14 members, divided
equally between industry and non-industry. The proposal would
eliminate the concept of non-industry members exceeding industry
members and state simply that non-industry NAC members will equal
industry NAC members. Given that the population of the NAC will be
14, its balanced nature can be achieved with an equal industry/non-
industry composition.
    \7\ See current FINRA Regulation By-Laws, Article V, Section 5.2
(Number of Members and Qualifications).
    \8\ Consistent with Article V of the FINRA Regulation By-Laws,
the current 14-member NAC includes seven industry and seven non-
industry members. Five of the industry NAC members represent the
five geographic regions. The remaining two industry seats are ``at-
large'' seats, which NASD historically used and FINRA currently uses
to add balance to the types of firms being represented on the NAC.
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Discussion of Changes to the NAC Election Process

    The proposed rule change would amend Article I (Definitions),
Article V (National Adjudicatory Council), and Article VI (National
Adjudicatory Council Regional Nominations for Industry Members) of the
FINRA Regulation By-Laws to replace the current regionally based
approach for appointing industry representatives to the NAC with a
process that is based on firm size and is similar to the FINRA Board's
approach.\9\ The NAC's regionally based election process is a legacy
NASD practice that no longer parallels the governance structure of the
FINRA Board. The proposed rule change would replace the five regionally
based industry members of the NAC with two small firm, one mid-size
firm, and two large firm industry representatives. The make-up of the
NAC under the proposed rule change would follow more closely the
current make-up of the FINRA Board.
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    \9\ The FINRA Board consists of eleven Public Governors (who are
appointed), ten Industry Governors (seven of whom are elected by
industry members), the current Chief Executive Officer (``CEO'') of
NYSE Regulation, and the current CEO of FINRA. The ten Industry
Governors include: (a) Three elected Governors who are registered
with member firms that employ 500 or more registered persons (Large
Firm Governors); (b) one elected Governor who is registered with a
member firm that employs at least 151 and no more than 499
registered persons (Mid-Size Firm Governor); (c) three elected
Governors who are registered with member firms that employ at least
one and no more than 150 registered persons (Small Firm Governors);
(d) one appointed Governor who is associated with a floor member of
the New York Stock Exchange; (e) one appointed Governor who is
associated with an independent contractor financial planning member
firm or an insurance company affiliate; and (f) one appointed
Governor who is associated with an affiliate of an investment
company. See FINRA By-Laws, Article VII (Board of Governors).
---------------------------------------------------------------------------

    The restructured NAC would therefore consist of 14 members,
including seven industry members, two of whom are ``at large'' and five
of whom are designated specifically as representatives of large firms,
mid-size firms, and small firms, and seven non-industry members, three
of whom are public.\10\ The tenure of NAC members is generally three
years and the terms of the NAC members are staggered. The proposal
would not disrupt the process

of approximately one-third of the NAC members completing their service
in a particular year and being replaced with newly appointed NAC
members. The proposal would result in a Small Firm and a Large Firm NAC
Member joining the NAC near the beginning of 2009; a Mid-Sized Firm NAC
Member joining in 2010; and a Small Firm and Large Firm NAC Member
joining in 2011. The proposed selection process would allow for the
service of NAC members with knowledge, impartiality, and judicial
temperament, while maintaining the same level of indirect
representation of FINRA's membership.
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    \10\ A public member of the NAC has no material business
relationship with a broker or dealer or a self-regulatory
organization registered under the Act.
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    In conjunction with eliminating the regionally based criteria for
identifying industry NAC members, the proposed rule change also would
simplify the NAC appointment process for industry representatives and
follow more closely the procedures for electing industry members of the
FINRA Board. The process proposed would eliminate the five Regional
Nominating Committees and have the Nominating Committee perform their
functions instead. Rather than relying on Regional Nominating
Committees to first identify possible industry candidates before
submission of the candidates to the Nominating Committee and the FINRA
Regulation Board, the Nominating Committee would identify and solicit
candidates for all NAC seats, including the five industry-member
positions that are based on firm size.\11\ The Nominating Committee
would be free to consult with or receive recommendations for industry
NAC members from other FINRA committees, such as the District
Nominating Committees, before communicating its nominations to the
FINRA Board.
---------------------------------------------------------------------------

    \11\ See proposed FINRA Regulation By-Laws, Article V, Section
5.3 (Appointments).
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    The proposed rule change would continue the current process of
allowing individuals who seek to serve on the NAC but were not
nominated, known as additional candidates, to gather petitions in
support of their candidacy and potentially compete in a contested
election. Additional candidates would petition to be considered as
Small, Mid-Size, or Large Firm NAC Members based on the size of the
firm with which they are registered.
    Under the proposal, additional candidates would be able to qualify
for a contested election by gathering petitions from three percent of
the firms in their size category, which is lower than the ten percent
requirement additional candidates currently need to gather when they
seek to qualify for a regional NAC seat.\12\ In the event of a
contested election, FINRA members would have an opportunity to vote for
a NAC candidate based on firm size.\13\ Specifically, small, mid-size,
or large firms would vote for NAC candidates only if the contested
election was for a NAC seat designated for a firm of corresponding
size.
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    \12\ Compare current FINRA Regulation By-Laws, Article VI,
Section 6.15 (Requirement for Petition Supporting Additional
Candidate) with proposed FINRA Regulation By-Laws, Article VI,
Section 6.2 (Designation of Additional Candidates).
    \13\ See proposed FINRA Regulation By-Laws, Article VI, Section
6.3 (List of FINRA Members Eligible to Vote) and Article VI, Section
6.7 (Ballots).
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    The proposed rule change would ensure that the winner of a
contested election serves on the NAC. While all NAC members would
continue to be recommended initially by the Nominating Committee and
appointed by the FINRA Board,\14\ the candidate who receives the most
votes in any contested election for a Small, Mid-Size, or Large Firm
NAC Member seat would be required under the FINRA Regulation By-Laws to
be appointed to the NAC.\15\ The current By-Law section that discusses
the procedure in the event that the Regional Nominating Committee's
nominee is rejected by the National Nominating Committee would
accordingly be deleted. The proposal would not change the NAC selection
process if no additional candidates reach the threshold to qualify for
a contested election. As in the past when there are no additional
candidates, the industry NAC members selected by the Nominating
Committee would not have a contested election and would be recommended
for appointment to the NAC.\16\
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    \14\ The seven non-industry members and two at-large industry
members would continue to follow the nomination and Board
appointment process currently employed for non-industry and at-large
industry NAC members.
    \15\ See proposed FINRA Regulation By-Laws, Article V, Section
5.3 (Appointments) and 5.5 (Rejection of Nominating Committee
Nominee).
    \16\ The proposed FINRA Regulation By-Laws retain the
possibility that the Nominating Committee could propose two or more
candidates for a single open small, mid-size, or large firm NAC
seat. See proposed FINRA Regulation By-Laws, Article VI, Section 6.5
(Notice of Contested Nomination). In such a case, there would be a
contested election. The proposed rule change would clarify that only
when the Nominating Committee nominates two or more candidates for
the same open seat would the Nominating Committee trigger a
contested election.
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    To verify that a NAC nominee or candidate would satisfy the
definition of an Industry, Small Firm, Mid-Sized Firm, Large Firm, Non-
Industry, or Public Member of the NAC, the proposed rule change would
authorize the FINRA Secretary to collect information from candidates as
is reasonably necessary to serve as the basis for such a
determination.\17\
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    \17\ See proposed FINRA Regulation By-Laws, Article V, Section
5.4 (Nomination Process).
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    The proposed rule change would modify slightly the provision that
restricts NAC members and certain committees from communicating in an
official capacity in support of a candidate in a contested election.
The current rules, which permit individuals who are Directors or NAC or
other committee members to communicate their views regarding a
candidate in an individual capacity, would remain the same. The
modification would specify the narrow circumstances under which the
Nominating Committee may support its candidate by sending a maximum of
two mailings in support of its nominee.\18\ The proposal would clarify
that this limited support is available during contested NAC elections
by referring to support allowed ``under these By-Laws,'' which includes
the support allowed under Article IV, Section 4.16.\19\
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    \18\ See proposed FINRA Regulation By-Laws, Article IV, Section
4.16(b) (Communication of Views Regarding Contested Election or
Nomination). Section 4.16(b) would also mirror the language of the
FINRA By-Law provision that allows, in contested elections, the
appropriate FINRA committee to communicate a responsive message in
reply to an additional candidate's communication. See FINRA By-Laws,
Article VII, Section 11(b) (Communication of Views).
    \19\ See proposed FINRA Regulation By-Laws, Article VI, Section
6.6 (Administrative Support).
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    The proposed rule change would designate the Secretary of FINRA,
instead of the FINRA Regulation Secretary, as the person who would send
notice to FINRA members announcing a contested NAC election; assist in
preparing ballots; prepare a list of FINRA members eligible to vote;
arrange for the location for counting of ballots by an independent
agent; resolve ballots that were set aside, if necessary; extend a time
period regarding elections for good cause; and similar duties.\20\ The
proposal designates the FINRA Secretary because this office fulfills
the same role when FINRA holds elections for the Board of Governors.
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    \20\ See proposed FINRA Regulation By-Laws, Article VI, Sections
6.5, 6.7, 6.8, 6.10, 6.11, 6.13, and 6.14.
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    As a result of the NAC's restructuring, FINRA would continue to
promote fair representation of its members because seven of the NAC
seats will be drawn from members of the industry and the industry
candidates for five of those seats will be announced to the membership
and are subject to a potential election by member firms of a similar
size.

    In addition, the rule change would indicate in proposed Article V,
Section 5.10 (Filling of Vacancies) that the NAC may continue to
function while FINRA fills a vacancy on the NAC. The proposal also
would incorporate the concept into Section 5.10 from proposed Section
5.9 (Disqualification), which specifies that a vacancy on the NAC
lasting six months or less will not cause a violation of the
compositional requirements of current Article V, Section 5.2 (Number of
Members and Qualifications).
    The proposed rule change would amend the FINRA Regulation By-Law
provisions regarding resignation, removal, appointment, and
disqualification of NAC members and the NAC's authority to act on
FINRA's behalf by designating the FINRA Board as the body authorized to
oversee the NAC.\21\ The FINRA Board has long had explicit authority
under Articles XII and XIII of its By-Laws to establish procedures for
disciplinary proceedings and to impose sanctions in certain
circumstances, and has consistently relied on the NAC to render
judgment on disciplinary matters, including imposing sanctions. The
proposal would reinforce these roles by simplifying the FINRA Board's
relationship with the NAC and establishing directly with the FINRA
Board the authority to remove all NAC members (for refusal, failure,
neglect, or inability to discharge duties), accept their resignations,
appoint them, and declare them disqualified. Moreover, the FINRA
Board's direct authority over resignation, removal, appointment, and
disqualification would logically extend the FINRA Board's existing
authority to review the substance of the NAC's appellate decisions,
which exists through the FINRA Board's discretionary power to call a
case for review by the FINRA Board.\22\ FINRA believes that the
proposed rule change will benefit the appellate portion of the
disciplinary process by extending the FINRA Board's oversight of the
NAC's members.
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    \21\ See current FINRA Regulation By-Laws, Article V, Sections
5.1 (Appointment and Authority), and proposed Sections 5.7-5.9.
    \22\ See Rule 9351.
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    The proposed rule change would amend current Article V, Section 5.2
of the FINRA Regulation By-Laws (Number of Members and Qualifications)
to eliminate the reference that the Chair of the NAC shall
automatically serve as a Director of the FINRA Regulation Board for a
one-year term. As a result of the NASD and NYSE consolidation, the NAC
Chair's automatic service on the FINRA Board of Governors was
previously eliminated in 2007. Accordingly, the NAC Chair no longer
automatically has the prerequisite requirement to be appointed to the
FINRA Regulation Board.\23\
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    \23\ Additional changes to the FINRA Regulation By-Laws
regarding the FINRA Regulation Board and capital stock will be
proposed by FINRA in a related proposed rule change that FINRA
anticipates filing in the near future.
---------------------------------------------------------------------------

Conforming Changes Relating to the New FINRA Name
    The proposed rule change would make certain non-substantive changes
to several articles of the FINRA Regulation By-Laws as follows:
     ``The NASD'' or ``NASD'' is replaced with ``FINRA'' or
``the Corporation'';
     ``NASD Regulation'' is changed to ``FINRA Regulation'';
     ``the Rules of the Association'' is replaced with ``the
Rules of the Corporation;'' and
     ``National Nominating Committee'' is replaced with
``Nominating Committee.''
    The proposed rule change would modify the term ``Industry Member''
in the definitional section of FINRA Regulation's By-Laws, Article I,
by limiting the look-back test that characterizes NAC or committee
members as industry if they have served as an officer, director, or
employee of a broker or dealer, among other reasons, within the past
twelve months. The current provision uses a three year look-back test.
This proposed change would make the definition of ``Industry Member''
for NAC and other committee members consistent with the ``Industry
Governor'' and ``Industry committee member'' definitions in the FINRA
By-Laws.\24\
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    \24\ See FINRA By-Laws, Article I(t).
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    The proposal would also add the term ``independent director'' to
the portion of the definition of ``Industry Member'' that excludes
outside directors of a broker or dealer. Independent director is
synonymous with outside director, but would be added to the
exclusionary clause to harmonize the FINRA Regulation By-Laws with the
FINRA By-Laws' use of the term ``independent director'' when defining
an Industry Governor. In addition, the definition of ``Public
Director'' and ``Public Member,'' which refers to NAC or committee
members, would be modified to clarify that, for example, a Public
Director's service on FINRA Regulation's Board or a Public Member's
service on the NAC does not disqualify that person from satisfying the
definition of Pubic Director or Public Member.\25\
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    \25\ See proposed FINRA Regulation By-Laws, Article I(hh) and
(ii).
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    The proposed rule change would reflect that FINRA Regulation's
Delaware registered agent is Corporate Creations Network Inc.
    The effective date of the proposed rule change will be the date of
Commission approval.
2. Statutory Basis
    FINRA believes that the proposed rule change is consistent with the
provisions of Section 15A(b)(6) of the Act,\26\ which requires, among
other things, that FINRA rules must be designed to prevent fraudulent
and manipulative acts and practices, to promote just and equitable
principles of trade, and, in general, to protect investors and the
public interest; and Section 15A(b)(4) of the Act,\27\ which requires
that FINRA rules are designed to assure a fair representation of
FINRA's members in the administration of its affairs. The composition
of the FINRA Board has previously been found to meet the statutory
requirement, and FINRA believes that the proposed rule change will
align the representation of industry members on the NAC to follow more
closely the industry representation on the FINRA Board.
---------------------------------------------------------------------------

    \26\ 15 U.S.C. 78o-3(b)(6).
    \27\ 15 U.S.C. 78o-3(b)(4).
---------------------------------------------------------------------------

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

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

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

    Written comments were neither solicited nor received.

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

    Within 35 days of the date of publication of this notice in the
Federal Register or within such longer period (i) as the Commission may
designate up to 90 days of such date if it finds such longer period to
be appropriate and publishes its reason for so finding or (ii) as to
which FINRA consents, the Commission will:
    A. By order approve such 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 e-mail to<EMAIL_ADDRESS>Please include
File Number SR-FINRA-2008-046 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-FINRA-2008-046. This
file number should be included on the subject line if e-mail is used.
To help the Commission process and review your comments more
efficiently, please use only one method. The Commission will post all
comments on the Commission's Internet Web site (http://www.sec.gov/
rules/sro.shtml). Copies of the submission, all subsequent amendments,
all written statements with respect to the proposed rule change that
are filed with the Commission, and all written communications relating
to the proposed rule change between the Commission and any person,
other than those that may be withheld from the public in accordance
with the provisions of 5 U.S.C. 552, will be available for inspection
and copying in the Commission's Public Reference Room, 100 F Street,
NE., Washington, DC 20549, on official business days between the hours
of 10 a.m. and 3 p.m. Copies of the filing also will be available for
inspection and copying at the principal office of FINRA. 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-FINRA-2008-046 and should be
submitted on or before October 21, 2008.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\28\
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    \28\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-22927 Filed 9-29-08; 8:45 am]

BILLING CODE 8010-01-P