[Federal Register: August 16, 2006 (Volume 71, Number 158)]
[Notices]
[Page 47194-47195]
[DOCID:fr16au06-62]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. RP06-468-000]

Mississippi Canyon Gas Pipeline, LLC; Notice of Proposed Changes
in FERC Gas Tariff

August 9, 2006.
    Take notice that on August 7, 2006, Mississippi Canyon Gas
Pipeline, LLC (Mississippi Canyon) tendered for filing as part of its
FERC Gas Tariff, First Revised Volume No. 1, the following tariff
sheets, to become effective September 7, 2006:

Fourth Revised Sheet No. 313.
Second Revised Sheet No. 313A .
Third Revised Sheet No. 314.
Third Revised Sheet No. 315.
Sheet Nos. 316-317.

    Mississippi Canyon states that the purpose of its filing is to
revise Mississippi Canyon's pro forma Service Request Form to ensure
that potential shippers provide all information required by Mississippi
Canyon's Tariff to appropriately evaluate and process requests for
service.
    Any person desiring to intervene or to protest this filing must
file in accordance with Rules 211 and 214 of the Commission's Rules of
Practice and Procedure (18 CFR 385.211 and 385.214). Protests will be
considered by the Commission in determining the appropriate action to
be taken, but will not serve to make protestants parties to the
proceeding. Any person wishing to become a party must file a notice of
intervention or motion to intervene, as appropriate. Such notices,
motions, or protests must be filed in accordance with the provisions of
Section 154.210 of the Commission's regulations (18 CFR 154.210).
Anyone filing an intervention or protest must serve a copy of that
document on the Applicant. Anyone filing an intervention or protest on
or before the intervention or protest date need not serve motions to
intervene or protests on persons other than the Applicant.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper using the ``eFiling'' link at http://www.ferc.gov.
 Persons unable to file electronically should submit an

original and 14 copies of the protest or intervention to the Federal
Energy Regulatory Commission, 888 First Street, NE., Washington, DC
20426.
    This filing is accessible on-line at http://www.ferc.gov, using the

``eLibrary'' link and is available for review in the Commission's
Public Reference Room in Washington, DC. There is an ``eSubscription''
link on the Web site that enables subscribers to receive e-mail
notification when a document is added to a subscribed docket(s). For
assistance with any FERC Online service, please e-mail
<EMAIL_ADDRESS>or call<PHONE_NUMBER> (toll free). For

TTY, call<PHONE_NUMBER>.

Magalie R. Salas,
Secretary.
 [FR Doc. E6-13377 Filed 8-15-06; 8:45 am]

BILLING CODE 6717-01-P


[Federal Register Volume 76, Number 173 (Wednesday, September 7, 2011)]
[Notices]
[Pages 55397-55398]
[FR Doc No: 2011-22766]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2011-N-0002]

Vaccines and Related Biological Products Advisory Committee;
Notice of Meeting

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice.

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    This notice announces a forthcoming meeting of a public advisory
committee of the Food and Drug Administration (FDA). At least one
portion of the meeting will be closed to the public.
    Name of Committee: Vaccines and Related Biological Products
Advisory Committee.
    General Function of the Committee: To provide advice and
recommendations to the Agency on FDA's regulatory issues.
    Date and Time: The meeting will be held on November 16, 2011, from
8 a.m. to approximately 5:30 p.m.
    Location: Hilton Washington DC/Silver Spring, 8727 Colesville Rd.,
Silver Spring, MD 20910,<PHONE_NUMBER>. For those unable to attend in
person, the meeting will also be Web cast. The link for the Web cast is
available at http://fda.yorkcast.com/webcast/Viewer/?peid=75dcd91903204870aff160cb9d5528151d.
    Contact Person: Donald W. Jehn or Denise Royster, Center for
Biologics Evaluation and Research (HFM-71), Food and Drug
Administration, 1401 Rockville Pike, Rockville, MD 20852,<PHONE_NUMBER>,
or FDA Advisory Committee Information Line, 1-800-741-8138 (301-443-
0572 in the Washington, DC area), and follow the prompts to the desired
center or product area. Please call the Information Line for up-to-date
information on this meeting. A notice in the Federal Register about
last minute modifications that impact a previously announced advisory
committee meeting cannot always be published quickly enough to provide
timely notice. Therefore, you should always check the Agency's Web site
and call the appropriate advisory committee hot line/phone line to
learn about possible modifications before coming to the meeting.
    Agenda: On November 16, 2011, the committee will meet in open
session to hear an overview of the research program in the Laboratory
of Method Development, Division of Viral Products, Office of Vaccines
Research and Review, Center for Biologics Evaluation and Research, FDA.
The committee will also hear an update on the evaluation of Gullian-
Barre Syndrome after Influenza Vaccine among Medicare population, 2010-
2011. The committee will then discuss and make recommendations on the
safety and immunogenicity (surrogate endpoint) of Pneumococcal 13-
valent conjugate vaccine (Diphtheria CRM197 Protein) in adults aged 50
years and older using an accelerated approval regulatory pathway.
    FDA intends to make background material available to the public no
later than 2 business days before the meeting. If FDA is unable to post
the background material on its Web site prior to the meeting, the
background material will be made publicly available at the location of
the advisory committee meeting, and the background material will be
posted on FDA's Web site after the meeting. Background material is
available at http://www.fda.gov/AdvisoryCommittees/Calendar/default.htm. Scroll down to the appropriate advisory committee link.
    Procedure: On November 16, 2011, from 8 a.m. to approximately 9:30
a.m. and from 10:15 a.m. to approximately 5:30 p.m., the meeting is
open to the public. Interested persons may present data, information,
or views, orally or in writing, on issues pending before the committee.
Written submissions may be made to the contact person on or before
November 9, 2011. Oral presentations from the public will be scheduled
between approximately 3:30 p.m. and

4:30 p.m. Those individuals interested in making formal oral
presentations should notify the contact person and submit a brief
statement of the general nature of the evidence or arguments they wish
to present, the names and addresses of proposed participants, and an
indication of the approximate time requested to make their presentation
on or before November 1, 2011. Time allotted for each presentation may
be limited. If the number of registrants requesting to speak is greater
than can be reasonably accommodated during the scheduled open public
hearing session, FDA may conduct a lottery to determine the speakers
for the scheduled open public hearing session. The contact person will
notify interested persons regarding their request to speak by November
2, 2011.
    Closed Committee Deliberations: On November 16, 2011, between
approximately 9:45 a.m. and 10:15 a.m., the meeting will be closed to
permit discussion where disclosure would constitute a clearly
unwarranted invasion of personal privacy (5 U.S.C. 552b(c)(6)). The
committee will discuss the report of the intramural research program in
the Laboratory of Method Development and make recommendations regarding
personnel staffing decisions.
    Persons attending FDA's advisory committee meetings are advised
that the Agency is not responsible for providing access to electrical
outlets.
    FDA welcomes the attendance of the public at its advisory committee
meetings and will make every effort to accommodate persons with
physical disabilities or special needs. If you require special
accommodations due to a disability, please contact Donald W. Jehn or
Denise Royster at least 7 days in advance of the meeting.
    FDA is committed to the orderly conduct of its advisory committee
meetings. Please visit our Web site at http://www.fda.gov/AdvisoryCommittees/AboutAdvisoryCommittees/ucm111462.htm for procedures
on public conduct during advisory committee meetings.
    Notice of this meeting is given under the Federal Advisory
Committee Act (5 U.S.C. app. 2).

    Dated: August 31, 2011.
Leslie Kux,
Acting Assistant Commissioner for Policy.
[FR Doc. 2011-22766 Filed 9-6-11; 8:45 am]
BILLING CODE 4160-01-P


[Federal Register: August 4, 2008 (Volume 73, Number 150)]
[Notices]
[Page 45269-45270]
[DOCID:fr04au08-91]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

[Summary Notice No. PE-2008-33]

Petition for Exemption; Summary of Petition Received

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice of petition for exemption received.

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

DATES: Comments on this petition must identify the petition docket
number involved and must be received on or before August 25, 2008.

ADDRESSES: You may send comments identified by Docket Number FAA-2008-
0718 using any of the following methods:
     Government-wide rulemaking Web site: Go to http://
www.regulations.gov and follow the instructions for sending your
comments electronically.
     Mail: Send comments to the Docket Management Facility;
U.S. Department of Transportation, 1200 New Jersey Avenue, SE., West
Building Ground Floor, Room W12-140, Washington, DC 20590.
     Fax: Fax comments to the Docket Management Facility at
202-493-2251.
     Hand Delivery: Bring comments to the Docket Management
Facility in Room W12-140 of the West Building Ground Floor at 1200 New
Jersey Avenue, SE., Washington, DC, between 9 a.m. and 5 p.m., Monday
through Friday, except Federal holidays.
    Privacy: We will post all comments we receive, without change, to
http://www.regulations.gov, including any personal information you
provide. Using the search function of our docket Web site, anyone can
find and read the comments received into any of our dockets, including
the name of the individual sending the comment (or signing the comment
for an association, business, labor union, etc.). You may review DOT's
complete Privacy Act Statement in the Federal Register published on
April 11, 2000 (65 FR 19477-78).
    Docket: To read background documents or comments received, go to
http://www.regulations.gov at any time or to the Docket Management
Facility in Room W12-140 of the West Building Ground Floor at 1200 New
Jersey Avenue, SE., Washington, DC, between 9 a.m. and 5 p.m., Monday
through Friday, except Federal holidays.

FOR FURTHER INFORMATION CONTACT: Frances Shaver,<PHONE_NUMBER>, or
Katrina Holiday,<PHONE_NUMBER>, Office of Rulemaking, Federal Aviation
Administration, 800 Independence Avenue, SW., Washington, DC 20591.
    This notice is published pursuant to 14 CFR 11.85.

    Issued in Washington, DC, on July 30, 2008.
Pamela Hamilton-Powell,
Director, Office of Rulemaking.

Petition for Exemption

    Docket No.: FAA-2008-0718.
    Petitioner: Hancock County--Bar Harbor Airport.
    Section of 14 CFR Affected: Sec.  139.319(a).
    Description of Relief Sought: To allow Hancock County--Bar Harbor
Airport to operate without meeting the requirements for aircraft rescue
and fire fighting equipment manned and ready to respond for air carrier
operations.

[FR Doc. E8-17824 Filed 8-1-08; 8:45 am]

BILLING CODE 4910-13-P


[Federal Register Volume 85, Number 174 (Tuesday, September 8, 2020)]
[Notices]
[Pages 55535-55539]
[FR Doc No: 2020-19719]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-89732; File No. SR-FINRA-2020-026]

Self-Regulatory Organizations; Financial Industry Regulatory
Authority, Inc.; Notice of Filing and Immediate Effectiveness of a
Proposed Rule Change To Temporarily Adopt (1) Supplementary Material
.12 (Temporary Extension of the Limited Period for Registered Persons
To Function as Principals) Under FINRA Rule 1210 and (2) Supplementary
Material .07 (Temporary Extension of the Limited Period for Persons To
Function as Operations Professionals) Under FINRA Rule 1220

September 1, 2020.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on August 28, 2020, Financial Industry Regulatory Authority, Inc.
(``FINRA'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I and
II below, which Items have been prepared by the self-regulatory
organization. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    FINRA is proposing to adopt: (1) Temporary Supplementary Material
.12 (Temporary Extension of the Limited Period for Registered Persons
to Function as Principals) under FINRA Rule 1210 (Registration
Requirements); and (2) temporary Supplementary Material .07 (Temporary
Extension of the Limited Period for Persons to Function as Operations
Professionals) under FINRA Rule 1220 (Registration Categories). The
proposed rule change would extend the 120-day period that certain
individuals can function as a principal or Operations Professional
without having successfully passed an appropriate qualification
examination through December 31, 2020.\3\
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    \3\ If FINRA seeks to provide additional temporary relief from
the rule requirements identified in this proposed rule change beyond
December 31, 2020, FINRA will submit a separate rule filing to
further extend the temporary extension of time.
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    The text of the proposed rule change is available on FINRA's
website at http://www.finra.org, at the principal office of FINRA and
at the Commission's Public Reference Room.

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

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

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

1. Purpose
    The COVID-19 pandemic is an unpredictable, exogenous event that has
resulted in unavoidable disruptions to the securities industry and
impacted member firms, regulators, investors and other stakeholders. In
response to COVID-19, earlier this year FINRA began providing temporary
relief to member firms from FINRA rules and requirements via frequently
asked questions (``FAQs'') on its website.\4\ Two of these FAQs \5\
provide temporary relief to address disruptions to the administration
of FINRA qualification examinations caused by the pandemic that have
significantly limited the ability of individuals to sit for these
examinations due to Prometric test center capacity issues.\6\
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    \4\ See Frequently Asked Questions Related to Regulatory Relief
Due to the Coronavirus Pandemic, available at https://www.finra.org/rules-guidance/key-topics/covid-19/faq.
    \5\ See https://www.finra.org/rules-guidance/key-topics/covid-19/faq#qe.
    \6\ At the outset of the COVID-19 pandemic, all FINRA
qualification examinations were administered at test centers
operated by Prometric. Based on the health and welfare concerns
resulting from COVID-19, in March Prometric closed all of its test
centers in the United States and Canada and began to slowly reopen
some of them at limited capacity in May. At this time, not all of
these Prometric test centers have reopened at full capacity.
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    FINRA published the first FAQ on March 20, 2020, providing that
individuals whom were designated to function as principals under FINRA
Rule 1210.04 prior to February 2, 2020, would be given until May 31,
2020, to pass the appropriate principal qualification examination.\7\
On May 19, 2020, FINRA extended the relief to pass the appropriate
examination until June 30, 2020. Most recently, on June 29, 2020, FINRA
again extended the temporary relief providing that individuals who were
designated to function as principals under FINRA Rule 1210.04 prior to
May 4, 2020, would be given until August 31, 2020, to pass the
appropriate principal qualification examination.\8\
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    \7\ FINRA Rule 1210.04 (Requirements for Registered Persons
Functioning as Principals for a Limited Period) allows a member firm
to designate certain individuals to function in a principal capacity
for 120 calendar days before having to pass an appropriate principal
qualification examination.
    \8\ See supra note 5.
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    FINRA published the second FAQ on May 15, 2020, providing that
individuals whom were designated to function as Operations
Professionals under FINRA Rule 1220(b)(3)(B) prior to February 2, 2020,
would be given until June 30, 2020, to pass the applicable
qualification examination.\9\ On June 29, 2020, FINRA extended the
temporary relief providing that individuals who were designated to
function as Operations Professionals under FINRA Rule 1220(b)(3)(B)
prior to May 4, 2020, would be given until August 31, 2020, to pass the
appropriate qualification examination.\10\
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    \9\ Pursuant to FINRA Rule 1220(b)(3)(B) (Qualifications), a
person registering as an Operations Professional may function in
that capacity for 120 days before having to pass an applicable
qualification examination.
    \10\ See supra note 5.
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    FINRA continues to closely monitor the impact of the COVID-19
pandemic on member firms, investors, and other stakeholders. One of the
impacts of COVID-19 continues to be serious interruptions in the
administration of FINRA qualification examinations at Prometric test
centers and the limited ability of individuals to sit for the
examinations.\11\ Although Prometric has begun reopening test centers,
Prometric's safety practices mean that currently not all test centers
are open, some of the open test centers are at limited capacity, and
some open test centers are delivering only certain examinations that
have been deemed essential by the local government.\12\ Furthermore,
Prometric has had to close some reopened test centers due to incidents
of COVID-19 cases. The initial nationwide closure in March along with
the inability to fully reopen all Prometric test centers due to COVID-
19 have led to a significant backlog of individuals who are waiting to
sit for FINRA examinations.\13\
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    \11\ Information about the continued impact of COVID-19 on
FINRA-administered examinations is available at https://www.finra.org/rules-guidance/key-topics/covid-19/exams.
    \12\ Information from Prometric about its safety practices and
the impact of COVID-19 on it operations is available at https://www.prometric.com/corona-virus-update. See also supra note 11.
    \13\ Although an online test delivery service has been launched
to help address the backlog, the General Securities Principal Exam
(Series 24) and the Operations Professional Exam (Series 99) are not
available online. See supra note 11.
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    In addition, firms are continuing to experience operational
challenges with much of their personnel working from home due to
shelter-in-place orders, restrictions on businesses and social activity
imposed in various states, and adherence to other social distancing
guidelines consistent with the recommendations of public health
officials.\14\ As a result, firms continue to face potentially
significant disruptions to their normal business operations that may
include a limitation of in-person activities and staff absenteeism as a
result of the health and welfare concerns stemming from COVID-19. Such
potential disruptions may be further exacerbated and may even affect
client services if firms cannot continue to keep principal or
Operations Professional positions filled as they may have difficulty
finding other qualified individuals to transition into these roles or
may need to reallocate employee time and resources away from other
critical responsibilities at the firm.
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    \14\ See, e.g., Centers for Disease Control and Prevention, How
to Protect Yourself & Others, https://www.cdc.gov/coronavirus/2019-ncov/prevent-getting-sick/prevention.html.
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    These ongoing, extenuating circumstances make it impracticable for
member firms to ensure that the individuals whom they have designated
to function in a principal or Operations Professional capacity, as set
forth in FINRA Rules 1210.04 and 1220(b)(3)(B), are able to
successfully sit for and pass an appropriate qualification examination
within the 120-calendar day period required under the rules, or to find
other qualified staff to fill these positions. The ongoing
circumstances also require individuals to be exposed to the health
risks associated with taking an in-person examination, because the
General Securities Principal and Operations Professional examinations
are not available online. Therefore, FINRA is proposing to continue the
temporary relief provided through the FAQs by adopting Rules 1210.12
and 1220.07 to extend the 120-day period during which an individual can
function as a principal or Operations Professional before having to
pass an applicable qualification examination until December 31,
2020.\15\ The proposed rule change would apply only to those
individuals who were designated to function as a principal or

Operations Professional prior to September 3, 2020. Any individuals
designated to function as a principal or Operations Professional on or
after September 3, 2020, would need to successfully pass an appropriate
qualification examination within 120 days.\16\
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    \15\ See supra note 3.
    \16\ FINRA notes that the proposed rule change would impact
members that have elected to be treated as capital acquisition
brokers (``CABs''), given that the CAB rule set incorporates the
impacted FINRA rules by reference.
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    FINRA believes that this proposed continued extension of time is
tailored to address the needs and constraints on a firm's operations
during the COVID-19 pandemic, without significantly compromising
critical investor protection. The proposed extension of time will help
to minimize the impact of COVID-19 on firms by providing continued
flexibility so that firms can ensure that principal and Operations
Professional positions remain filled. The potential risks from the
proposed extension of the 120-day period are mitigated by the firm's
continued requirement to supervise the activities of these designated
individuals and ensure compliance with federal securities laws and
regulations, as well as FINRA rules.
    FINRA has filed the proposed rule change for immediate
effectiveness and has requested that the SEC waive the requirement that
the proposed rule change not become operative for 30 days after the
date of the filing, so FINRA can implement the proposed rule change
immediately.
2. Statutory Basis
    FINRA believes that the proposed rule change is consistent with the
provisions of Section 15A(b)(6) of the Act,\17\ 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.
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    \17\ 15 U.S.C. 78o-3(b)(6).
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    The proposed rule change is intended to minimize the impact of
COVID-19 on firm operations by further extending the 120-day period
certain individuals may function as a principal or Operations
Professional without having successfully passed an appropriate
qualification examination under FINRA Rules 1210.04 and 1220(b)(3)(B)
until December 31, 2020. The proposed rule change does not relieve
firms from maintaining, under the circumstances, a reasonably designed
system to supervise the activities of their associated persons to
achieve compliance with applicable securities laws and regulations, and
with applicable FINRA rules that directly serve investor protection. In
a time when faced with unique challenges resulting from the COVID-19
pandemic, FINRA believes that the proposed rule change is a sensible
accommodation that will continue to afford firms the ability to ensure
that critical positions are filled and client services maintained,
while continuing to serve and promote the protection of investors and
the public interest in this unique environment.

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. The proposed rule change is
intended solely to provide temporary relief given the impacts of the
COVID-19 pandemic crisis.\18\ As a result of the temporary nature of
the proposed relief, an abbreviated economic impact assessment is
appropriate.
---------------------------------------------------------------------------

    \18\ See also Regulatory Notice 20-08 (March 2020).
---------------------------------------------------------------------------

1. Economic Impact Assessment
(a) Regulatory Objective
    FINRA is proposing this temporary relief to address the public
health risks and corresponding challenges during the COVID-19 pandemic.
Social distancing, quarantining and other similar requirements to
promote the health and safety of citizens have resulted in serious
interruptions in the administration of FINRA qualification examinations
at Prometric test centers and the limited ability of individuals to sit
for the examinations. In recognition of these extraordinary times, the
proposed rule change would temporarily extend the time that individuals
can function as a principal or Operations Professional without having
successfully passed an appropriate qualification examination.
(b) Economic Baseline
    As described above, FINRA Rules 1210.04 and 1220(b)(3)(B) allow
firms to designate certain individuals to function in a principal or
Operations Professional capacity for 120 calendar days before having to
pass an appropriate principal qualification examination. As also
described above, FINRA has provided temporary extensions to the 120-day
period through FAQs, most recently in June 2020.
    Currently, approximately 157,000 individuals are registered as
principals and approximately 36,000 are registered as Operations
Professionals. Additionally, FINRA estimates that approximately 6,000
individuals pass the General Securities Principal (Series 24) exam each
year.\19\
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    \19\ Statistic is based on average examination volume from 2017-
2019.
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(c) Economic Impact
    The proposed rule change is intended solely to provide a temporary
mechanism for firms to address the difficulty of ensuring that the
individuals whom they have designated to function in a principal or
Operations Professional capacity are able to successfully sit for and
pass an appropriate qualification examination within the 120-calendar
day period required under the rules while the COVID-19 pandemic
continues to pose health and safety risks. The proposed rule change is
necessary to temporarily rebalance the attendant benefits and costs of
the obligations under FINRA Rules 1210 and 1220 in response to the
impacts of the COVID-19 pandemic.
(1) Anticipated Benefits
    The benefits of the proposed temporary rule change will mainly
accrue to those individuals who are operating as principals or
Operations Professionals without having yet passed the appropriate
qualification examinations, as permitted under FINRA rules, as these
individuals will have additional time to pass their qualification
examinations. The additional time provided to those individuals to pass
the appropriate examinations will likely prevent any disruption to
their employment associated with not meeting the examination
requirement. Further, neither the principal examination nor the
Operations Professional (Series 99) examination are available via
remote testing. Therefore, the proposed temporary rule change will also
allow those individuals to avoid any health risks (and resulting costs)
associated with taking an in-person examination.
    Firms employing principals and Operations Professionals who have
not yet passed their qualifying examinations will also benefit from
continuity in their business operations. If those firms were required
to prevent those individuals from functioning as principals or
Operations Professionals, this would likely have spillover effects on
firm procedures and services. Relatedly, investors at those firms will
benefit from the resulting business continuity.

(2) Anticipated Costs
    As previously stated, the public health risks stemming from the
COVID-19 pandemic have increased the costs associated with sitting for
in-person qualification examinations. FINRA carefully considered the
implications of extending the 120-calendar day period provided in FINRA
Rules 1210.04 and 1220(b)(3)(B) and the potential for any downstream
effects on retail investors and believes that there are potential
negative spillover effects on investors if firms' processes are
interrupted, as noted above. Further, FINRA believes that any risk
associated with the extension of time is mitigated by the fact that the
extension is temporary and by members' ongoing obligations to supervise
the activities of associated persons.

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

    Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A) of the Act \20\ and Rule 19b-
4(f)(6) \21\ thereunder.
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    \20\ 15 U.S.C. 78s(b)(3)(A).
    \21\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change, along
with a brief description and text of the proposed rule change, at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
FINRA has satisfied this requirement.
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) normally does
not become operative for 30 days after the date of filing. However,
pursuant to Rule 19b-4(f)(6)(iii), the Commission may designate a
shorter time if such action is consistent with the protection of
investors and the public interest. FINRA has asked the Commission to
waive the 30-day operative delay so that the proposed rule change may
become operative immediately upon filing. As noted above, FINRA stated
that the temporary proposed rule change will help minimize the impact
of the COVID-19 outbreak on FINRA member firms' operations by allowing
them to keep principal and Operations Professional positions filled and
minimizing disruptions to client services and other critical
responsibilities. The ongoing extenuating circumstances of the COVID-19
pandemic make it impractical to ensure that individuals designated to
act in these capacities are able to take and pass the appropriate
qualification examination during the 120-calendar day period required
under the rules. Shelter-in-place orders, quarantining, restrictions on
business and social activity and adherence to other social distancing
guidelines consistent with the recommendation of public officials
remain in place in various states.\22\ Further, FINRA states that
Prometric test centers have experienced serious interruptions in the
administration of FINRA qualification examinations, resulting in a
backlog of individuals waiting to take these examinations. Following a
nationwide closure of all test centers earlier in the year, some test
centers have re-opened, but are operating at limited capacity or are
only delivering certain examinations that have been deemed essential by
the local government.\23\ FINRA has launched an online test delivery
service to help address this backlog. However, the General Securities
Principal (Series 24) and the Operations Professional (Series 99)
Examinations are not available online. FINRA states that the temporary
proposed rule change will provide needed flexibility to ensure that
these positions remain filled and is tailored to address the
constraints on member firms' operations during the COVID-19 pandemic
without significantly compromising critical investor protection.\24\
---------------------------------------------------------------------------

    \22\ See supra note 14.
    \23\ See supra notes 11 and 12. FINRA states that Prometric has
also had to close some reopened test centers due to incidents of
COVID-19 cases.
    \24\ FINRA states that member firms remain subject to the
continued requirement to supervise the activities of these
designated individuals and ensure compliance with federal securities
laws and regulations, as well as FINRA rules.
---------------------------------------------------------------------------

    The Commission also notes that the proposal provides only temporary
relief from the requirement to pass certain qualification examinations
in within the 120-day period in the rules. As proposed, this relief
would extend the 120-day period that certain individuals can function
as principals or Operations Professionals through December 31, 2020.
FINRA also noted that if it requires temporary relief from the rule
requirements identified in this proposal beyond December 31, 2020, it
may submit a separate rule filing to extend the effectiveness of the
temporary relief under these rules.\25\ For these reasons, the
Commission believes that waiver of the 30-day operative delay is
consistent with the protection of investors and the public interest.
Accordingly, the Commission hereby waives the 30-day operative delay
and designates the proposal operative upon filing.\26\
---------------------------------------------------------------------------

    \25\ See supra note 3.
    \26\ For purposes only of waiving the 30-day operative delay,
the Commission has considered the proposed rule change's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings to
determine whether the proposed rule should be approved or disapproved.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-FINRA-2020-026 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-2020-026. 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, on business days
between the hours of 10:00 a.m. and 3:00 p.m., located at 100 F Street
NE, Washington, DC 20549. Copies of such filing also will be available
for inspection and copying at the principal office of FINRA. 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-FINRA-2020-026
and should be submitted on or before September 29, 2020.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\27\
---------------------------------------------------------------------------

    \27\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-19719 Filed 9-4-20; 8:45 am]
BILLING CODE 8011-01-P


Cooling Water Intake Structure ( CWIS) Information Data Required Rig Information Rig Name ENSCO 60 Rig Type Jackup L111C Total Installed Power Generation Capacity 6050 hp Number of Cooling Water Intake Structures ( CWISs) 4 Brief description of each CWIS ( e. g., sea chest, simple pipe) Sea chest, raw water tower deep well pumps Rough dimensions of each CWIS and indicate whether onboard CWIS has an existing flange 3 raw water tower pumps, 2 stage w/ 100 hp motors pump rated 1200 gpm 1 Sea chest used only while under tow Screen type ( e. g., strainer, wedge wire) with mesh size Basket Strainers, ¼ " Mesh on pump itself Total Design Specifications for Daily Maximum Water Intake Volume of each CWIS 1,727,964 gals ( 41,142 bbls)

Total Daily Water Intake Volume of each CWIS ( Set up/ Drilling) 1,727,964 gals ( 41,142 bbls)

Design Specs for Through Screen Velocity of each CWIS ( i. e., Q= V* A) ( Set up/ Drilling) 13.33 ft/ second List of Purposes of Cooling Water Intakes ( e. g., cool crude oil, produced water, power generators, drill pipe brakes) Brake water cooling List of Purposes of Non cooling Water Intakes ( e. g., fire water, hotel loads) Water makers, fire main, sanitary, pre load, jet spud cans, mud pits, shakers Total Volume of Water Intake for Ballasting, Duration of the Ballast intake, and the Through Screen Velocity of the Ballast intake 2,677,500 gals ( 63,750 bbls) Duration = time on location. Through Screen Velocity = 13.33 ft. Per second Mitigation Measures for reducing Exotic Species Migration through Ballast water The rig does not carry much ballast water from location to location. It is taken on and dumped at the same location. Mitigation Measures for reducing Impingement and Entrainment of Aquatic Organisms, as well as Bio fouling Prevention Measures Sea chest screens, and baskets, cathodic protection Is the Rig equipped with a Radiator Cooling System for the Main Engines? Yes, 3 Radiators for the engines


[Federal Register: August 2, 2006 (Volume 71, Number 148)]
[Notices]
[Page 43823-43828]
[DOCID:fr02au06-125]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-54224; File No. 4-523]

 Program for Allocation of Regulatory Responsibilities Pursuant
to Rule 17d-2; Notice of Filing of the Plan for Allocation of
Regulatory Responsibilities Between NYSE Arca, Inc. and the National
Association of Securities Dealers, Inc.

July 27, 2006.
    Pursuant to Section 17(d) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 17d-2 thereunder,\2\ notice is hereby given that
on January 20, 2006, NYSE Arca, Inc.\3\ (``NYSE Arca'') and the
National Association of Securities Dealers, Inc. (``NASD'')

(together with the NYSE Arca, the ``Parties'') filed with the
Securities and Exchange Commission (``Commission'') an amended and
restated plan for the allocation of regulatory responsibilities. On
July 25, 2006, the Parties submitted a revised amended and restated
plan. The Commission is publishing this notice to solicit comments on
the revised amended and restated 17d-2 plan from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78q(d).
    \2\ 17 CFR 240.17d-2.
    \3\ NYSE Arca, Inc. was formerly called the Pacific Exchange,
Inc. (``PCX''). On March 6, 2006, PCX filed with the Commission a
proposed rule change, which was effective upon filing, to change the
name of the PCX, as well as several other related entities, to
reflect Archipelago Holdings, Inc.'s (``Archipelago'') recent
acquisition of PCX and the merger of the New York Stock Exchange,
Inc. with Archipelago. See Securities Exchange Act Release No. 53615
(April 7, 2006), 71 FR 19226 (April 13, 2006).
---------------------------------------------------------------------------

I. Introduction

    Section 19(g)(1) of the Act,\4\ among other things, requires every
self-regulatory organization (``SRO'') registered as either a national
securities exchange or registered 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) \5\ or 19(g)(2) \6\ of the Act. 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.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78s(g)(1).
    \5\ 15 U.S.C. 78q(d).
    \6\ 15 U.S.C. 78s(g)(2).
---------------------------------------------------------------------------

    Section 17(d)(1) of the Act \7\ was intended, in part, to eliminate
unnecessary multiple examinations and regulatory duplication.\8\ 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.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78q(d)(1).
    \8\ 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).
---------------------------------------------------------------------------

    To implement Section 17(d)(1), the Commission adopted two rules:
Rule 17d-1 and Rule 17d-2 under the Act.\9\ 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.\10\ 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.
---------------------------------------------------------------------------

    \9\ 17 CFR 240.17d-1 and 17 CFR 240.17d-2, respectively.
    \10\ See Securities Exchange Act Release No. 12352 (April 20,
1976), 41 FR 18809 (May 3, 1976).
---------------------------------------------------------------------------

    To address regulatory duplication in these and other areas, the
Commission adopted Rule 17d-2 under the Act.\11\ 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 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.
---------------------------------------------------------------------------

    \11\ See Securities Exchange Act Release No. 12935 (October 28,
1976), 41 FR 49093 (November 8, 1976).
---------------------------------------------------------------------------

II. Proposed Plan

    The Parties currently operate pursuant to a 17d-2 plan in which the
NASD assumed certain inspection, examination, and enforcement
responsibility for common members with respect to certain applicable
laws, rules, and regulations (the ``current NASD-PCX 17d-2 Plan'').\12\
On September 22, 2005, the Commission approved a proposed rule change
submitted by PCX, the predecessor to NYSE Arca,\13\ relating to the
acquisition of PCX Holdings, Inc. by Archipelago.\14\ In that filing,
PCX committed to amend the current NASD-PCX 17d-2 Plan within 90 days
of the Commission's approval of SR-PCX-2005-90 to expand the scope of
the NASD's regulatory functions under the plan so as to encompass all
of the regulatory oversight and enforcement responsibilities with
respect to the broker-dealer affiliate of Archipelago, Archipelago
Securities, L.L.C.\15\ This time period has been extended three
times.\16\
---------------------------------------------------------------------------

    \12\ See Securities Exchange Act Release Nos. 14095 (October 25,
1977), 42 FR 57198 (November 1, 1977) (File No. 4-267) (notice of
1977 Agreement); 15191 (September 26, 1978), 43 FR 46093 (October 5,
1978) (File No. 4-267) (order granting temporary approval); 15722
(April 12, 1979), 44 FR 23616 (April 20, 1979) (File No. 4-267)
(extension of time to file amendments); 15941 (June 21, 1979) (File
No. 4-267), SEC Docket, Vol. 17, no. 14, page 995 (July 3, 1979)
(further extension of time to file required amendments); 16462
(January 2, 1980), 45 FR 2121 (January 10, 1980) (File No. 4-267)
(order granting temporary approval); 16591 (February 20, 1980), 45
FR 12573 (February 26, 1980) (File No. 4-267) (notice of 1980
Amendment); 16719 (April 2, 1980), 45 FR 23841 (April 8, 1980) (File
No. 4-267) (order granting temporary approval); and 16858 (May 30,
1980), 45 FR 37927 (June 5, 1980) (File No. 4-267) (approval order).
    \13\ See supra note 3.
    \14\ See Securities Exchange Act Release No. 52497 (September
22, 2005), 70 FR 56949 (September 29, 2005) (approving SR-PCX-2005-
90, as amended).
    \15\ Archipelago Securities acts as the outbound order router
for the NYSE Arca Marketplace (formerly, the Archipelago Exchange,
or ArcaEx), the equities trading facility of NYSE Arca.
    \16\ See Securities Exchange Act Release Nos. 52995 (December
21, 2005), 70 FR 77232 (December 29, 2005); 53545 (March 23, 2006),
71 FR 16183 (March 30, 2006); and 54046 (June 26, 2006), 71 FR 37965
(July 3, 2006).
---------------------------------------------------------------------------

     On January 20, 2006, the Parties submitted an amended and restated
17d-2 plan for review and approval by the Commission. On July 25, 2006,
the Parties submitted a revised amended and restated plan. The revised
amended and restated plan is intended to replace and supersede the
current NASD-PCX 17d-2 Plan and all prior amendments thereto in their
entirety. The revised amended and restated 17d-2 plan is intended to
reduce regulatory duplication for firms that are common members of NYSE
Arca and the NASD. The text of the plan delineates regulatory
responsibilities with respect to the Parties, including responsibility
for NYSE Arca rules. Included in the revised amended and restated plan
is an attachment (``NYSE Arca Rules Certification for 17d-2 Agreement
with NASD,'' referred to herein as the ``Certification'') that lists
every NYSE Arca rule and the federal securities laws and rules and
regulations thereunder for which, under the plan, the NASD would bear
responsibility for overseeing and enforcing with respect to common
members. In particular, under the revised amended and restated 17d-2
plan, the NASD would assume examination and enforcement responsibility
relating to compliance by dual members and persons associated therewith
with the rules of NYSE Arca that are substantially similar to the rules

of the NASD (``Common Rules''), as well as any provisions of the
federal securities laws and the rules and regulations thereunder
delineated in the Certification.\17\ Under the plan, NYSE Arca would
retain full responsibility for surveillance and enforcement with
respect to trading activities or practices involving NYSE Arca's own
marketplace; registration pursuant to its unique rules (i.e., non-
common rules); its duties as a Designated Examining Authority pursuant
to Rule 17d-1 under the Act; and any rules that are not substantially
similar to the rules of the NASD, except for NYSE Arca rules for any
broke-dealer subsidiary of Archipelago.\18\
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    \17\ See paragraph 2 of the revised amended and restated 17d-2
plan. The Commission notes that there is only one federal security
law rule on the Certification, Rule 200 of Regulation SHO.
    \18\ See id. Apparent violations of such NYSE Arca rules by any
broker-dealer subsidiary of Archipelago will be processed by, and
enforcement proceedings will be conducted by, the NASD. See
paragraph 5 of the revised amended and restated 17d-2 plan.
---------------------------------------------------------------------------

    The text of the revised amended and restated 17d-2 plan is as
follows:

Agreement Between the NASD and NYSA Arca, Inc. Pursuant to Sec Rule
17d-2 Under the Securities Exchange Act of 1934

    This Agreement, between the National Association of Securities
Dealers, Inc. (``NASD'') and the NYSE Arca, Inc. (``NYSE Arca''), is
made this 25th day of July, 2006, pursuant to the provisions of SEC
Rule 17d-2 under the Securities Exchange Act of 1934 which calls for
agreements between self-regulatory organizations for plans to reduce or
eliminate regulatory duplication.
    This Agreement supersedes and replaces Agreements entered into
between the parties on May 27, 1977 and January 20, 2006, entitled
``Agreement Between the National Association of Securities Dealers,
Inc. and the Pacific Stock Exchange, Inc. Pursuant to SEC Rule 17d-2
Under the Securities Exchange Act of 1934,'' and any subsequent
amendments thereafter.
    Whereas, NASD and NYSE Arca are desirous of reducing duplication in
the examination of their dual members (a broker-dealer firm which is a
member of both NASD and NYSE Arca) and in the filing and processing of
certain registration and membership records; and
    Whereas, NASD and NYSE Arca are desirous of executing a plan
covering such subjects pursuant to the provisions of Rule 17d-2 and
filing such with the Commission for its approval.
    Now, therefore, in consideration of the mutual covenants contained
hereafter, the said NASD and NYSE Arca hereby agree as follows:
    1. That NASD will assume regulatory responsibilities for all firms
who are members of NYSE Arca and NASD (``dual members''). NYSE Arca
shall furnish NASD with a current list of dual members, which shall be
updated no less frequently than once each quarter.
    2. For purposes of this plan, the term ``regulatory
responsibilities'' shall mean the examination and enforcement
responsibility relating to compliance by the dual members and persons
associated therewith with the rules of NYSE Arca that are substantially
similar to the rules of NASD in that the NYSE Arca's rule would not
require NASD 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, (the ``Common Rules''). Prior to the effective date of this
Agreement, NYSE Arca shall furnish NASD with a current list of Common
Rules (``Certification''), and NASD will confirm in writing whether the
rules listed in the Certification are Common Rules as defined in this
Agreement. Each year following the commencement of operation of this
Agreement, or more frequently if required by changes in either the
rules of NYSE Arca or NASD, NYSE Arca shall submit an updated list of
Common Rules to NASD for review which shall add NYSE Arca rules not
included in the current list of Common Rules that qualify as Common
Rules as defined in this Agreement; delete NYSE Arca rules included in
the current list of Common Rules that no longer qualify as Common Rules
as defined in this Agreement; and confirm that the remaining rules on
the current list of Common Rules continue to be NYSE Arca rules that
qualify as Common Rules as defined in this Agreement. Within 30 days of
receipt of such updated list, NASD will confirm in writing whether the
rules listed in any updated list are Common Rules as defined in this
Agreement. Regulatory responsibilities under this Agreement shall also
extend to those provisions of the federal securities laws and rules and
regulations thereunder listed in the Certification.
    The term ``enforcement responsibility'' shall mean the conduct of
appropriate proceedings, in accordance with the NASD Code of Procedure
(the Rule 9000 Series) and other applicable NASD procedural rules, to
determine whether violations of pertinent laws, rules or regulations
have occurred, and if such violations are deemed to have occurred, the
imposition of appropriate sanctions as specified under the NASD's Code
of Procedure and sanctions guidelines. Notwithstanding anything herein
to the contrary, it is explicitly understood that the term ``regulatory
responsibilities'' does not include, and NYSE Arca will retain full
responsibility for (unless otherwise addressed by separate agreement or
rule):
    (a) Surveillance and enforcement with respect to trading activities
or practices involving NYSE Arca's own marketplace, including without
limitation NYSE Arca's rules relating to the rights and obligations of
market makers;
    (b) Registration pursuant to its applicable rules of associated
persons (i.e., registration rules that are not Common Rules);
    (c) Discharge of its duties and obligations as a Designated
Examining Authority pursuant to Rule 17d-1 under the Act; and
    (d) Any rules of NYSE Arca that are not substantially similar to
the rules of NASD, except for NYSE Arca rules for any broker-dealer
subsidiary of Archipelago Holdings, Inc. as provided in paragraph 5.
    3. There shall be no charge to NYSE Arca by NASD for performing the
stated regulatory responsibilities under this plan except as
hereinafter provided. NASD will provide NYSE Arca with ninety (90) days
advance written notice in the event NASD decides to impose any charges
to NYSE Arca for performing the stated regulatory responsibilities
under this plan. If it becomes necessary to impose a charge, NYSE Arca
shall have the right at the time of the imposition of such to terminate
this Agreement; provided, however, that NASD's regulatory
responsibilities under this Agreement shall continue until the SEC
approves the termination of this Agreement.
    4. Notwithstanding any provision hereof, this Agreement shall be
subject to any statute, or any rule or order of the Securities and
Exchange Commission, or industry agreement, restructuring the
regulatory framework of the securities industry or reassigning
regulatory responsibilities between self-regulatory organizations. To
the extent such is inconsistent with this Agreement, such shall
supersede the provisions hereof to the extent necessary for them to be
properly effectuated and the provisions hereof in that respect shall be
null and void.
    5. Should NASD become aware of apparent violations of NYSE Arca's
rules, which are not listed as Common Rules, discovered pursuant to the
performance of the regulatory

responsibilities assumed hereunder, NASD will notify NYSE Arca of those
apparent violations. With respect to apparent violations of any NYSE
Arca rules by any broker-dealer subsidiary of NYSE Arca's parent
company, Archipelago Holdings, Inc., NASD shall not make referrals to
NYSE Arca pursuant to this Item 5. Such apparent violations shall be
processed by, and enforcement proceedings in respect thereto will be
conducted by, NASD as provided in this agreement. Apparent violations
of all other applicable rules, including violations of the various
securities acts, and rules and regulations thereunder, will be
processed by, and enforcement proceedings in respect thereto will be
conducted by NASD as provided hereinbefore; provided however that in
the event a covered dual member or a person associated therewith is the
subject of an investigation relating to a transaction on NYSE Arca,
NYSE Arca may in its discretion assume concurrent jurisdiction and
responsibility. Each party agrees to make available promptly all files,
records and witnesses necessary to assist the other in its
investigation or proceedings.
    6. NASD will make available to NYSE Arca all information obtained
by it in the performance by it of the regulatory responsibilities
hereunder in respect to the firms which are subject to this Agreement.
In particular, and not in limitation of the foregoing, NASD will
furnish NYSE Arca any information it obtains about dual members which
reflects adversely on their financial condition and which should be
known by NYSE Arca or any subsidiaries thereof. It is understood that
such information is of an extremely sensitive nature and, accordingly,
NYSE Arca agrees to take all reasonable steps to maintain its
confidentiality. NYSE Arca will supply NASD any information coming to
its attention that reflects adversely on the financial condition of
dual members or indicates possible violations of applicable laws, rules
or regulations by such firms.
    7. Dual members subject to this agreement will be required to
submit, and NASD will be responsible for processing and acting upon all
applications submitted on behalf of allied persons, partners, officers,
registered personnel and any other person required to be approved by
the rules of both NYSE Arca and NASD or associated with dual members
thereof. NASD shall advise NYSE Arca monthly of any changes of allied
members, partners, officers, registered personnel and other persons
required to be approved by the rules of both NYSE Arca and NASD. Dual
members will be required to send to NASD all letters, termination
notices or other material respecting these individuals. When as a
result of processing said submissions NASD becomes aware of a statutory
disqualification as defined in the Securities Exchange Act of 1934 with
respect to a dual member or person associated with a dual member, NASD
will determine pursuant to sections 15A(g) and/or section 6(c) the
acceptability or continued applicability of the person to whom such
disqualification applies and keep NYSE Arca advised of its actions in
this regard.
    NASD will also be responsible for processing and, if required,
acting upon all requests for the opening, address changes, and
terminations of branch offices by dual members and any other
applications required of dual members under the Common Rules as they
may be amended from time to time. NASD will advise NYSE Arca monthly of
the opening, address change and termination of branch and main offices
of dual members and the names of such branch office managers.
    8. NYSE Arca shall forward to NASD copies of all customer
complaints involving dual members and persons associated therewith
received by it relating to NASD's regulatory responsibilities under
this Agreement. It shall be NASD's responsibility to review and take
appropriate action in respect to such complaints.
    9. NASD shall assume responsibility to review the advertising of
dual members subject to the Agreement, provided that such material is
filed with NASD in accordance with NASD's filing procedures and is
accompanied with any applicable filing fees. Such review will be made
in accordance with then applicable NASD rules and interpretations. In
all cases of dual members subject to this Agreement, the advertising of
dual members shall be subject only to compliance with appropriate NASD
rules and interpretations.
    10. Nothing contained in this Agreement shall restrict or in any
way encumber the right of NASD or NYSE Arca to conduct special or cause
examinations of dual members and persons associated therewith as NASD
or NYSE Arca, in their sole discretions, shall deem appropriate.
    11. NYSE Arca recognizes that, pursuant to this Agreement, NASD
will maintain an available and appropriate mechanism for considering
and acting upon requests by dual members for extensions of time
pursuant to Federal Reserve Regulation T and SEC Rule 15c3-3 of the
Securities Exchange Act of 1934. NASD will keep NYSE Arca informed with
respect to its activities in granting extensions of time pursuant to
Regulation T and Rule 15c3-3 to dual members in such form and content
as reasonably determined by NASD.
    12. Should a dispute arise between the parties as to the operation
of this Agreement, NYSE Arca and NASD agree that any such dispute shall
be settled by arbitration in Washington, DC in accordance with the
rules of the American Arbitration Association then in effect, or such
other procedures as the parties may mutually agree upon. Judgment on
the award rendered by the arbitrator(s) may be entered in any court
having jurisdiction.
    13. This Agreement may be cancelled by NYSE Arca or NASD at any
time with the approval of the Securities and Exchange Commission upon
one (1) year's written notice, except as provided in paragraph 3.
    14. This Agreement shall be effective upon approval of the
Securities and Exchange Commission.
    15. This Agreement is wholly separate from the multiparty Agreement
made pursuant to SEC Rule 17d-2 of the Securities Exchange Act of 1934
between the American Stock Exchange LLC, the Boston Stock Exchange,
Inc., the Chicago Board Options Exchange, Inc., the International
Securities Exchange, Inc., the National Association of Securities
Dealers, Inc., the New York Stock Exchange, Inc., the Pacific Exchange,
Inc., and the Philadelphia Stock Exchange involving the allocation of
regulatory responsibilities with respect to common members for
compliance with common rules relating to the conduct by broker-dealers
of accounts for listed options or index warrants entered into on
January 14, 2004, and as may be amended from time to time.
Limitation of Liability
    Neither NASD nor NYSE Arca nor any of their respective directors,
governors, officers or employees shall be liable to the other party to
this plan for any liability, loss or damage resulting from or claimed
to have resulted from any delays, inaccuracies, errors or omissions
with respect to the provision of regulatory responsibilities as
provided hereby or for the failure to provide any such responsibility,
except with respect to such liability, loss or damages as shall have
been suffered by one or the other of NASD or NYSE Arca and caused by
the willful misconduct of the other party or their respective
directors, governors, officers or employees. No warranties, express or
implied, are made

by NASD or NYSE Arca with respect to any of the responsibilities to be
performed by each of them hereunder.
Relief From Responsibility
    Pursuant to Sections 17(d)(1)(A) and 19(g) of the Securities
Exchange Act of 1934 and Rule 17d-2 promulgated pursuant thereto, NASD
and NYSE Arca join in requesting the Commission, upon its approval of
this plan or any part thereof, to relieve NYSE Arca of any and all
responsibilities with respect to matters allocated to NASD pursuant to
this plan.

NYSE Arca Certification

NYSE Arca Rules Certification for 17d-2 Agreement With NASD
    NYSE Arca, Inc. hereby certifies that the requirements contained in
the rules listed below for NYSE Arca Equities, Inc., a wholly-owned
subsidiary, are identical to, or substantially similar to, comparable
NASD rules (``Common Rules'') as of July 2006.\19\
---------------------------------------------------------------------------

    \19\ The Commission notes that the Certification attached to the
executed revised amended and restated plan also includes references
to the NASD rules to which the Common Rules are identical or
substantially similar. Further, the Certification notes that, with
respect to several of the NYSE Arca rules, NYSE Arca will be
responsible for any significant differences between its rule and the
comparable NASD rule identified, until such time amendments to such
rule(s) may be approved. A copy of the revised amended and restated
plan, including the Certification, is available on the Commission's
Web site at http://www.sec.gov.

------------------------------------------------------------------------
               Rule                             Description
------------------------------------------------------------------------
2.15.............................  Responsibilities of Non-Resident
                                    Firms.
2.21.............................  Employees of ETP Holder Registration.
2.24.............................  ETP Books and Records.
6.1..............................  Adherence to Law.
6.2..............................  Prohibited Acts.
6.6..............................  Front-Running of Block Transactions.
6.13.............................   Disciplinary Action By Other
                                    Organizations.
6.15.............................   Miscellaneous Prohibitions.
6.16.............................   Trading Ahead of Customer Limit
                                    Orders.
6.17.............................   Anti-Money Laundering Compliance
                                    Program.
6.18.............................   Supervision.
8.4..............................  Account Approval.
8.5..............................  Suitability.
8.6..............................  Discretionary Accounts.
8.7..............................  Supervision of Accounts.
8.8..............................  Customer Complaints.
8.9..............................  Prior Approval of Certain
                                    Communications to Customers.
9.1(a)...........................  Register with the Corporation.
9.1(c)...........................  Office Supervision.
9.1(d)...........................  Designation of Firm Principal.
9.1(e)...........................  Guarantees.
9.1(f)...........................  Sharing Profits--Losses.
9.2(b)...........................  Account Supervision.
9.2(c)...........................  Customer Records.
9.3(a)...........................  Employee Accounts.
9.3(b)...........................  ETP Holder and Allied Person
                                    Accounts.
9.4..............................  Proxies Voting.
9.5..............................  Solicitation Expense.
9.6(a)...........................  Discretion as to Customers' Accounts.
9.6(b)...........................  Records of Discretionary Accounts.
9.7(a)...........................  Pledging Customer Securities.
9.7(b)...........................  Use of Customer Securities.
9.7(c)...........................  Customer Protection--Reserves and
                                    Custody of Securities.
9.7(d)...........................  Agreements for Use of Customer
                                    Securities.
9.10.............................  Assuming Losses.
9.11.............................  Confirmations.
9.12.............................  COD Orders--Partial Delivery.
9.13.............................  Long Sales.
9.14.............................  Account Designation.
9.15.............................  Statements of Account to Customers.
9.17.............................  Books and Records.
9.19.............................  Transfer of Accounts.
9.20(b)..........................  Telemarketing.
9.21(a)..........................  Policy.
9.22(a)..........................  Advertisements.
9.23.............................  Sales Literature--Market Letters.
9.24.............................  Radio, Television, Telephone and
                                    Other Reports.
9.25.............................  Standards.
9.27.............................  Registration of Representatives.
9.27.............................  Regulatory Element.
9.29.............................  Borrowing From or Lending to
                                    Customers.
------------------------------------------------------------------------

In addition, the following provisions of the Securities Exchange Act of
1934, and rules and regulations thereunder, shall be part of this 17d-2
Agreement: Rule 200 of Regulation SHO-Definition of ``Short Sale'' and
Marking Requirements.

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

    Pursuant to Section 17(d)(1) of the Act \20\ and Rule 17d-2
thereunder,\21\ after August 23, 2006, the Commission may, by written
notice, declare the plan submitted by NYSE Arca and the NASD, File No.
4-523, effective if the Commission finds that the plan is necessary or
appropriate in the public interest and for the protection of investors,
to foster cooperation and coordination among self-regulatory
organizations, or to remove impediments to and foster the development
of the national market system and a national system for the clearance
and settlement of securities transactions and in conformity with the
factors set forth in Section 17(d) of the Act.
---------------------------------------------------------------------------

    \20\ 15 U.S.C. 78q(d)(1).
    \21\ 17 CFR 240.17d-2.
---------------------------------------------------------------------------

IV. Solicitation of Comments

    In order to assist the Commission in determining whether to approve
the revised amended and restated 17d-2 plan and to relieve NYSE Arca of
the responsibilities which would be assigned to the NASD, interested
persons are invited to submit written data, views, and arguments
concerning the foregoing. Comments may be submitted by any of the
following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/.
 rules/other.shtml); or     Send an e-mail to<EMAIL_ADDRESS>Please include

File Number 4-523 on the subject line.

Paper Comments

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

All submissions should refer to File Number 4-523. 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/other.shtml).

Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed plan that are filed with the
Commission, and all written communications relating to the proposed
plan 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. Copies of the plan also will be
available for inspection and copying at the principal office of the
Exchange. All comments received will be posted without change; the
Commission does not edit personal identifying information from
submissions. You should submit only information that you wish to make
available publicly. All submissions should refer to File Number 4-523
and should be submitted on or before August 23, 2006.
---------------------------------------------------------------------------

    \22\ 17 CFR 200.30-3(a)(34).

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

    For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\22\
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E6-12429 Filed 8-1-06; 8:45 am]

BILLING CODE 8010-01-P