[Federal Register Volume 78, Number 96 (Friday, May 17, 2013)]
[Rules and Regulations]
[Page 29020]
[FR Doc No: 2013-11827]

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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 117

[Docket No. USCG-2013-0360]

Drawbridge Operation Regulation; Neches River, Beaumont, TX

AGENCY: Coast Guard, DHS.

ACTION: Notice of deviation from drawbridge regulation.

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SUMMARY: The Coast Guard has issued a temporary deviation from the
operating schedule that governs the Kansas City Southern vertical lift
span bridge across the Neches River, mile 19.5, at Beaumont, Texas. The
deviation is necessary to replace the north vertical lift joints on the
bridge. This deviation allows the bridge to remain closed to navigation
for twelve consecutive hours.

DATES: This deviation is effective from 6 a.m. through 6 p.m. on
Tuesday, June 4, 2013.

ADDRESSES: The docket for this deviation, [USCG-2013-0360] is available
at http://www.regulations.gov. Type the docket number in the ``SEARCH''
box and click ``SEARCH.'' Click on Open Docket Folder on the line
associated with this deviation. You may also visit the Docket
Management Facility in Room W12-140 on the ground floor of the
Department of Transportation West Building, 1200 New Jersey Avenue SE.,
Washington, DC 20590, between 9 a.m. and 5 p.m., Monday through Friday,
except Federal holidays.

FOR FURTHER INFORMATION CONTACT: If you have questions on this
temporary deviation, call or email Kay Wade, Bridge Administration
Branch, Coast Guard; telephone<PHONE_NUMBER>, email<EMAIL_ADDRESS>
If you have questions on viewing the docket, call Barbara Hairston,
Program Manager, Docket Operations, telephone<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: The Kansas City Southern Railroad has
requested a temporary deviation from the operating schedule of the
vertical lift span bridge across the Neches River at mile 19.5 in
Beaumont, Texas. The vertical clearance of the bridge in the closed-to-
navigation position is 13 feet above Mean High Water and 140 feet above
Mean High Water in the open-to-navigation position.
    In accordance with 33 CFR 117.971, the vertical lift span of the
bridge is automated and normally not manned but will open on signal for
the passage of vessels. This deviation allows the vertical lift span of
the bridge to remain closed to navigation from 6 a.m. to 6 p.m. on
Tuesday, June 4, 2013.
    The closure is necessary in order to replace the north vertical
lift joints on the bridge, which allow the bridge to be raised. This
maintenance is essential for the continued operation of the bridge.
Notices will be published in the Eighth Coast Guard District Local
Notice to Mariners and will be broadcast via the Coast Guard Broadcast
Notice to Mariners System.
    Navigation on the waterway consists of commercial and recreational
fishing vessels, small to medium crew boats, and small tugs with and
without tows. No alternate routes are available for the passage of
vessels; however, the closure was coordinated with waterway interests
who have indicated that they will be able to adjust their operations
around the proposed work schedule. Small vessels may pass under the
bridge while in the closed-to-navigation position provided caution is
exercised.
    The bridge will be able to open manually in the event of an
emergency, but it will take about one hour to do so.
    Due to prior experience and coordination with waterway users, it
has been determined that this closure will not have a significant
effect on vessels that use the waterway.
    In accordance with 33 CFR 117.35(e), the drawbridge must return to
its regular operating schedule immediately at the end of the effective
period of this temporary deviation. This deviation from the operating
regulations is authorized under 33 CFR 117.35.

    Dated: May 7, 2013.
David M. Frank,
Bridge Administrator.
[FR Doc. 2013-11827 Filed 5-16-13; 8:45 am]
BILLING CODE 9110-04-P


[Federal Register Volume 78, Number 164 (Friday, August 23, 2013)]
[Notices]
[Pages 52587-52589]
[FR Doc No: 2013-20568]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-70228; File No. 4-663]

Program for Allocation of Regulatory Responsibilities Pursuant to
Rule 17d-2; Order Approving and Declaring Effective a Plan for the
Allocation of Regulatory Responsibilities Between the Financial
Industry Regulatory Authority, Inc. and the Topaz Exchange, LLC

August 19, 2013.
    On July 2, 2013, the Financial Industry Regulatory Authority, Inc.
(``FINRA'') and the Topaz Exchange, LLC (``Topaz'') (together with
FINRA, the ``Parties'') filed with the Securities and Exchange
Commission (``Commission'') a plan for the allocation of regulatory
responsibilities, dated June 21, 2013 (``17d-2 Plan'' or the ``Plan'').
The Plan was published for comment on August 1, 2013.\1\ The Commission
received no comments on the Plan. This order approves and declares
effective the Plan.
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    \1\ See Securities Exchange Act Release No. 70053 (July 26,
2013), 78 FR 46656.
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I. Introduction

    Section 19(g)(1) of the Securities Exchange Act of 1934
(``Act''),\2\ among other things, requires every self-regulatory
organization (``SRO'') registered as either a national securities
exchange or national securities association to examine for, and enforce
compliance by, its members and persons associated with its members with
the Act, the rules and regulations thereunder, and the SRO's own rules,
unless the SRO is relieved of this responsibility pursuant to Section
17(d) or Section 19(g)(2) of the Act.\3\ Without this relief, the
statutory obligation of each individual SRO could result in a pattern
of multiple examinations of broker-dealers that maintain memberships in
more than one SRO (``common members''). Such regulatory duplication
would add unnecessary expenses for common members and their SROs.
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    \2\ 15 U.S.C. 78s(g)(1).
    \3\ 15 U.S.C. 78q(d) and 15 U.S.C. 78s(g)(2), respectively.
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    Section 17(d)(1) of the Act \4\ was intended, in part, to eliminate
unnecessary multiple examinations and regulatory duplication.\5\ With
respect to a common member, Section 17(d)(1) authorizes the Commission,
by rule or order, to relieve an SRO of the responsibility to receive
regulatory reports, to examine for and enforce compliance with
applicable statutes, rules, and regulations, or to perform other
specified regulatory functions.
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    \4\ 15 U.S.C. 78q(d)(1).
    \5\ See Securities Act Amendments of 1975, Report of the Senate
Committee on Banking, Housing, and Urban Affairs to Accompany S.
249, S. Rep. No. 94-75, 94th Cong., 1st Session 32 (1975).
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    To implement Section 17(d)(1), the Commission adopted two rules:
Rule 17d-1 and Rule 17d-2 under the Act.\6\ Rule 17d-1 authorizes the
Commission to name a single SRO as the designated examining authority
(``DEA'') to examine common members for compliance with the financial
responsibility requirements imposed by the Act, or by Commission or SRO
rules.\7\ When an SRO has been named as a common member's DEA, all
other SROs to which the common member belongs are relieved of the
responsibility to examine the firm for compliance with the applicable
financial responsibility rules. On its face, Rule 17d-1 deals only with
an SRO's obligations to enforce member compliance with financial
responsibility requirements. Rule 17d-1 does not relieve an SRO from
its obligation to examine a common member for compliance with its own
rules and provisions of the federal securities laws governing matters
other than financial responsibility, including sales practices and
trading activities and practices.
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    \6\ 17 CFR 240.17d-1 and 17 CFR 240.17d-2, respectively.
    \7\ See Securities Exchange Act Release No. 12352 (April 20,
1976), 41 FR 18808 (May 7, 1976).
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    To address regulatory duplication in these and other areas, the
Commission adopted Rule 17d-2 under the Act.\8\ Rule 17d-2 permits SROs
to propose joint plans for the allocation of regulatory
responsibilities with respect to their common members. Under paragraph
(c) of Rule 17d-2, the Commission may declare such a plan effective if,
after providing for appropriate notice and comment, it determines that
the plan is necessary or appropriate in the public interest and for the
protection of investors; to foster cooperation and coordination among
the SROs; to remove impediments to, and foster the development of, a
national market system and a national clearance and settlement system;
and is in conformity with the factors set forth in Section 17(d) of the
Act. Commission approval of a plan filed pursuant to Rule 17d-2
relieves an SRO of those regulatory responsibilities allocated by the
plan to another SRO.
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    \8\ See Securities Exchange Act Release No. 12935 (October 28,
1976), 41 FR 49091 (November 8, 1976).
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II. Proposed Plan

    On July 26, 2013, the Commission granted Topaz's application for
registration as a national securities exchange.\9\ The proposed 17d-2
Plan is intended to reduce regulatory duplication for firms that are
common members of both Topaz and FINRA.\10\ Pursuant to the proposed
17d-2 Plan, FINRA would assume certain examination and enforcement
responsibilities for common members with respect to certain applicable
laws, rules, and regulations.
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    \9\ See Securities Exchange Act Release No. 70050 (July 26,
2013), 78 FR 46622 (August 1, 2013) (File No. 10-209).
    \10\ The proposed 17d-2 Plan refers to these common members as
``Dual Members.'' See Paragraph 1(c) of the proposed 17d-2 Plan.

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    The text of the Plan delineates the proposed regulatory
responsibilities with respect to the Parties. Included in the proposed
Plan is an exhibit (the ``Topaz Certification of Common Rules,''
referred to herein as the ``Certification'') that lists every Topaz
rule for which FINRA would bear responsibility under the Plan for
overseeing and enforcing with respect to Topaz members that are also
members of FINRA and the associated persons therewith (``Dual
Members'').
    Specifically, under the 17d-2 Plan, FINRA would assume examination
and enforcement responsibility relating to compliance by Dual Members
with the rules of Topaz that are substantially similar to the
applicable rules of FINRA,\11\ as well as any provisions of the federal
securities laws and the rules and regulations thereunder delineated in
the Certification (``Common Rules''). In the event that a Dual Member
is the subject of an investigation relating to a transaction on Topaz,
the plan acknowledges that Topaz may, in its discretion, exercise
concurrent jurisdiction and responsibility for such matter.\12\
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    \11\ See paragraph 1(b) of the proposed 17d-2 Plan (defining
Common Rules). See also paragraph 1(f) of the proposed 17d-2 Plan
(defining Regulatory Responsibilities). Paragraph 2 of the Plan
provides that annually, or more frequently as required by changes in
either Topaz rules or FINRA rules, the parties shall review and
update, if necessary, the list of Common Rules. Further, paragraph 3
of the Plan provides that Topaz shall furnish FINRA with a list of
Dual Members, and shall update the list no less frequently than once
each calendar quarter.
    \12\ See paragraph 6 of the proposed 17d-2 Plan.
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    Under the Plan, Topaz would retain full responsibility for
surveillance and enforcement with respect to trading activities or
practices involving Topaz's own marketplace, including, without
limitation, registration pursuant to its applicable rules of associated
persons (i.e., registration rules that are not Common Rules); its
duties as a DEA pursuant to Rule 17d-1 under the Act; and any Topaz
rules that are not Common Rules.\13\
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    \13\ See paragraph 2 of the proposed 17d-2 Plan.
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III. Discussion

    The Commission finds that the proposed Plan is consistent with the
factors set forth in Section 17(d) of the Act \14\ and Rule 17d-2(c)
thereunder \15\ in that the proposed Plan is necessary or appropriate
in the public interest and for the protection of investors, fosters
cooperation and coordination among SROs, and removes impediments to and
fosters the development of the national market system. In particular,
the Commission believes that the proposed Plan should reduce
unnecessary regulatory duplication by allocating to FINRA certain
examination and enforcement responsibilities for Dual Members that
would otherwise be performed by both Topaz and FINRA. Accordingly, the
proposed Plan promotes efficiency by reducing costs to Dual Members.
Furthermore, because Topaz and FINRA will coordinate their regulatory
functions in accordance with the Plan, the Plan should promote investor
protection. The Commission notes that the proposed Plan would allocate
regulatory responsibility between Topaz and FINRA in a manner similar
to the allocation of regulatory responsibility that currently exists
between the International Securities Exchange, LLC (``ISE'') and
FINRA.\16\
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    \14\ 15 U.S.C. 78q(d).
    \15\ 17 CFR 240.17d-2(c).
    \16\ The proposed new Topaz rules are based to a substantial
extent on the rules of the ISE. The ISE currently is party to a 17d-
2 plan with FINRA. See Securities Exchange Act Release No. 55367
(February 27, 2007), 72 FR 9983 (March 6, 2007) (File No. 4-529)
(order approving and declaring effective the plan between the ISE
and NASD (n/k/a FINRA)).
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    The Commission notes that, under the Plan, Topaz and FINRA have
allocated regulatory responsibility for those Topaz rules, set forth on
the Certification, that are substantially similar to the applicable
FINRA rules in that examination for compliance with such provisions and
rules would not require FINRA to develop one or more new examination
standards, modules, procedures, or criteria in order to analyze the
application of the rule, or a Dual Member's activity, conduct, or
output in relation to such rule. In addition, under the Plan, FINRA
would assume regulatory responsibility for certain provisions of the
federal securities laws and the rules and regulations thereunder that
are set forth in the Certification. The Common Rules covered by the
Plan are specifically listed in the Certification, as may be amended by
the Parties from time to time.
    According to the Plan, Topaz will review the Certification, at
least annually, or more frequently if required by changes in either the
rules of Topaz or FINRA, and, if necessary, submit to FINRA an updated
list of Common Rules to add Topaz rules not included on the then-
current list of Common Rules that are substantially similar to FINRA
rules; delete Topaz rules included in the then-current list of Common
Rules that are no longer substantially similar to FINRA rules; and
confirm that the remaining rules on the list of Common Rules continue
to be Topaz rules that are substantially similar to FINRA rules.\17\
FINRA will then confirm in writing whether the rules listed in any
updated list are Common Rules as defined in the Plan. Under the Plan,
Topaz will also provide FINRA with a current list of Dual Members and
shall update the list no less frequently than once each quarter.\18\
The Commission believes that these provisions are designed to provide
for continuing communication between the Parties to ensure the
continued accuracy of the scope of the proposed allocation of
regulatory responsibility.
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    \17\ See paragraph 2 of the proposed 17d-2 Plan.
    \18\ See paragraph 3 of the proposed 17d-2 Plan.
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    The Commission is hereby declaring effective a plan that, among
other things, allocates regulatory responsibility to FINRA for the
oversight and enforcement of all Topaz rules that are substantially
similar to the rules of FINRA for Dual Members of Topaz and FINRA.
Therefore, modifications to the Certification need not be filed with
the Commission as an amendment to the Plan, provided that the Parties
are only adding to, deleting from, or confirming changes to Topaz rules
in the Certification in conformance with the definition of Common Rules
provided in the Plan. However, should the Parties decide to add a Topaz
rule to the Certification that is not substantially similar to a FINRA
rule; delete a Topaz rule from the Certification that is substantially
similar to a FINRA rule; or leave on the Certification a Topaz rule
that is no longer substantially similar to a FINRA rule, then such a
change would constitute an amendment to the Plan, which must be filed
with the Commission pursuant to Rule 17d-2 under the Act and noticed
for public comment.\19\
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    \19\ The Commission also notes that the addition to or deletion
from the Certification of any federal securities laws, rules, and
regulations for which FINRA would bear responsibility under the Plan
for examining, and enforcing compliance by, Dual Members, also would
constitute an amendment to the Plan.
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    The Plan also permits Topaz and FINRA to terminate the Plan,
subject to notice.\20\ The Commission notes, however, that while the
Plan permits the Parties to terminate the Plan, the Parties cannot by
themselves reallocate the regulatory responsibilities set forth in the
Plan, since Rule 17d-2 under the Act requires that any allocation or
re-allocation of regulatory responsibilities be filed with the
Commission.\21\
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    \20\ See paragraph 12 of the proposed 17d-2 Plan.
    \21\ The Commission notes that paragraph 12 of the Plan reflects
the fact that FINRA's responsibilities under the Plan will continue
in effect until the Commission approves any termination of the Plan.

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IV. Conclusion

    This Order gives effect to the Plan filed with the Commission in
File No. 4-663. The Parties shall notify all members affected by the
Plan of their rights and obligations under the Plan.
    It is therefore ordered, pursuant to Section 17(d) of the Act, that
the Plan in File No. 4-663, between FINRA and Topaz, filed pursuant to
Rule 17d-2 under the Act, is approved and declared effective.
    It is further ordered that Topaz is relieved of those
responsibilities allocated to FINRA under the Plan in File No. 4-663.
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    \22\ 17 CFR 200.30-3(a)(34).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\22\
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-20568 Filed 8-22-13; 8:45 am]
BILLING CODE 8011-01-P


BEFORE THE

U.S. DEPARTMENT OF TRANSPORTATION

OFFICE OF THE SECRETARY

WASHINGTON, D.C.

________________________________________________

								:

Application of							:

								:

SUNRISE AIRLINES, INC., a Utah corporation,		:

								:     DOCKET NO. OST-2001-8695

for a waiver of the 45-day advance filing requirement	:

of 14 CFR 204.7 and notice of intent to resume commuter	:

air service following a cessation of operations.		:

________________________________________________:

NOTIFICATION

Communications with respect to

this document should be sent to:

Lawrence G. Sullivan

President and General Manager

Sunrise Airlines, Inc.

220 East Airport Avenue

Venice, Florida 34285

Tel.:<PHONE_NUMBER>

Facsimile:<PHONE_NUMBER>

	John E. Gillick, Esq.

PILLSBURY WINTHROP LLP

1133 Connecticut Avenue, N.W.

Suite 1200

Washington, D.C.  20036

Tel.:<PHONE_NUMBER>

Facsimile:<PHONE_NUMBER>

Dated:  December 5, 2001

BEFORE THE

U.S. DEPARTMENT OF TRANSPORTATION

OFFICE OF THE SECRETARY

WASHINGTON, D.C.

________________________________________________

								:

Application of							:

								:

SUNRISE AIRLINES, INC., a Utah corporation,		:

								:     DOCKET NO. OST-2001-8695

for a waiver of the 45-day advance filing requirement	:

of 14 CFR 204.7 and notice of intent to resume commuter	:

air service following a cessation of operations.		:

________________________________________________:

NOTIFICATION

	Sunrise Airlines, Inc. (“Sunrise”), a commuter air carrier that has applied for a determination that it is fit to resume commuter air service with Jetstream J-31 aircraft between several cities in the State of Florida, has requested in the above-referenced docket that the Department register the name “FLAIR Airlines” as a trade name for Sunrise.

	A complete copy of the request may be found in Exhibit E (Revised) to the Tenth Supplement in the above-referenced docket.

						        /s/ John E. Gillick

								John E. Gillick

Counsel for Sunrise Airlines, Inc.

December 5, 2001

Certificate of Service

I hereby certify that I have this date caused a copy of the foregoing Notification to be sent by Federal Express to the following,

Dean A. Forest

President and Chief Executive Officer

Florida Coastal Airlines, Inc.

3000 Curtis King Boulevard

Ft. Pierce, Florida  34946

Saulat Kahn

President

Air Florida Express, Inc.

610 S.W. 34th Street

Fort Lauderdale International Airport

Fort Lauderdale, Florida  33315

and by facsimile to:

Delores A. King

Air Carrier Fitness Division

Office of Aviation Analysis

U.S. Department of Transportation

Room 6401K

400 Seventh Street, S.W.

Washington, D.C.  20590

							         /s/ John E. Gillick

							 	 John E. Gillick

Washington, D.C.

December 5, 2001

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CD Titled, “ Silica- Milling Machine Partnership

See Docket Office Staff

A copy is available for viewing in the OSHA Docket Office/Technical Data
Center, FPB, 200 Constitution Avenue, Rm. N2625, Washington, DC 20210