[Federal Register Volume 81, Number 79 (Monday, April 25, 2016)]
[Notices]
[Pages 24172-24173]
[FR Doc No: 2016-09444]

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DEPARTMENT OF TRANSPORTATION

Federal Railroad Administration

[Docket Number FRA-2000-7137]

Petition for Waiver of Compliance

    In accordance with part 211 of Title 49 Code of Federal Regulations
(CFR), this document provides the public notice that by a document
dated February 24, 2016, San Diego Trolley Incorporated (SDTI)
petitioned the Federal Railroad Administration (FRA) for a supplemental
waiver of compliance from certain additional provisions of the Federal
railroad safety regulations contained in various parts of Title 49 of
the CFR. FRA assigned the petition to Docket Number FRA-2000-7137.
    SDTI seeks a 5-year extension of its existing waiver, as well as a
waiver of additional regulations, for certain portions of its light
rail transit operations which employ temporal separation in order to
safely share track with the general railroad system's San Diego and
Imperial Valley Railroad. Contiguous to the shared trackage are
portions with limited connections, which include a small shared
corridor with BNSF Railway freight service and Coaster commuter train
service (Coaster also shares a storage yard with SDTI). FRA granted
SDTI its initial waiver on January 19, 2001, which was extended for 5
years on September 11, 2006, to include minor operational changes. The
waiver was most recently extended for 5 years on June 22, 2011, to
include updating CFR section changes made since 2006. In 2012, SDTI
received a separate waiver from FRA to operate its SD100 and S70
rolling stock at speeds that generate cant deficiency not exceeding 6
inches on its Orange Line joint use trackage (see Docket Number FRA-
2012-0088). To simplify matters, SDTI now requests that the relief in
both dockets be baselined into Docket Number FRA-2000-7137.
    After consulting with FRA during an onsite meeting on March 24,
2016, SDTI is requesting additional relief from the following
regulatory sections: 49 CFR part 214, subpart C, Roadway Worker
Protection; part 228, subpart F, Substantive Hours of Service
Requirements for Train Employees Engaged in Commuter or Intercity Rail
Passenger Transportation; and part 242, Qualification and Certification
of Conductors.
    A copy of the petition, as well as any written communications
concerning the petition, is available for review online at
www.regulations.gov and in person at the U.S. Department of
Transportation's (DOT) Docket Operations Facility, 1200 New Jersey
Avenue SE., W12-140, Washington, DC 20590. The Docket Operations
Facility is open from 9 a.m. to 5 p.m., Monday through Friday, except
Federal Holidays.
    Interested parties are invited to participate in these proceedings
by submitting written views, data, or comments. FRA does not anticipate
scheduling a public hearing in connection with these proceedings since
the facts do not appear to warrant a hearing. If any interested party
desires an opportunity for oral comment, they should notify FRA, in
writing, before the end of the comment period and specify the basis for
their request.
    All communications concerning these proceedings should identify the
appropriate docket number and may be

submitted by any of the following methods:
     Web site: http://www.regulations.gov. Follow the online
instructions for submitting comments.
     Fax:<PHONE_NUMBER>.
     Mail: Docket Operations Facility, U.S. Department of
Transportation, 1200 New Jersey Avenue SE., W12-140, Washington, DC
20590.
     Hand Delivery: 1200 New Jersey Avenue SE., Room W12-140,
Washington, DC 20590, between 9 a.m. and 5 p.m., Monday through Friday,
except Federal Holidays.
    Communications received by June 9, 2016 will be considered by FRA
before final action is taken. Comments received after that date will be
considered as far as practicable.
    Anyone is able to search the electronic form of any written
communications and comments received into any of our dockets by the
name of the individual submitting the comment (or signing the document,
if submitted on behalf of an association, business, labor union, etc.).
In accordance with 5 U.S.C. 553(c), DOT solicits comments from the
public to better inform its processes. DOT posts these comments,
without edit, including any personal information the commenter
provides, to www.regulations.gov, as described in the system of records
notice (DOT/ALL-14 FDMS), which can be reviewed at www.dot.gov/privacy.
See also http://www.regulations.gov/#!privacyNotice for the privacy
notice of regulations.gov.

Robert C. Lauby,
Associate Administrator for Railroad Safety, Chief Safety Officer.
[FR Doc. 2016-09444 Filed 4-22-16; 8:45 am]
BILLING CODE 4910-06-P


[Federal Register Volume 86, Number 69 (Tuesday, April 13, 2021)]
[Notices]
[Pages 19306-19309]
[FR Doc No: 2021-07494]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-91495; File No. SR-FINRA-2021-006]

Self-Regulatory Organizations; Financial Industry Regulatory
Authority, Inc.; Notice of Filing and Immediate Effectiveness of a
Proposed Rule Change To Extend the Expiration Date of the Temporary
Amendments Set Forth in SR-FINRA-2020-015 and SR-FINRA-2020-027

April 7, 2021.
    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 April 1, 2021, the Financial Industry Regulatory Authority, Inc.
(``FINRA'') filed with the Securities and Exchange Commission (``SEC''
or ``Commission'') the proposed rule change as described in Items I and
II below, which Items have been prepared substantially by FINRA. FINRA
has designated the proposed rule change as constituting a ``non-
controversial'' rule change under paragraph (f)(6) of Rule 19b-4 under
the Act,\3\ which renders the proposal effective upon receipt of this
filing by the Commission. The Commission is publishing this notice to
solicit comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 17 CFR 240.19b-4(f)(6).
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    FINRA is proposing to extend the expiration date of the temporary
amendments set forth in SR-FINRA-2020-015 and SR-FINRA-2020-027 from
April 30, 2021, to August 31, 2021.\4\ The proposed rule change would
not make any changes to the text of FINRA rules.
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    \4\ If FINRA seeks to provide additional temporary relief from
the rule requirements identified in this proposed rule change beyond
August 31, 2021, FINRA will submit a separate rule filing to further
extend the temporary extension of time. The amended FINRA rules will
revert to their original form at the conclusion of the temporary
relief period and any extension thereof.
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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, FINRA included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. FINRA has prepared summaries, set forth in sections A,
B, and C below, of the most significant aspects of such statements.

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

1. Purpose
    In response to the COVID-19 global health crisis and the
corresponding need to restrict in-person activities, FINRA filed
proposed rule changes, SR-FINRA-2020-015 and SR-FINRA-2020-027, which
respectively provide temporary relief from some timing, method of
service and other procedural requirements in FINRA rules and allow
FINRA's Office of Hearing Officers (``OHO'') and the National
Adjudicatory Council (``NAC'') to conduct hearings, on a temporary
basis, by video conference, if warranted by the current COVID-19-
related public health risks posed by an in-person hearing. In December
2020, FINRA filed a proposed rule change, SR-FINRA-2020-042, to extend
the expiration date of the temporary amendments in both SR-FINRA-2020-
015 and SR-FINRA-2020-027 from December 31, 2020, to April 30, 2021.\5\
While there are signs of improvement, the COVID-19 conditions
necessitating these temporary amendments persist and, based on its
assessment of current COVID-19 conditions and the lack of certainty as
to when COVID-19-related health concerns and corresponding restrictions
will meaningfully subside, FINRA has determined that there is a
continued need for this temporary relief for several months beyond
April 30, 2021. Accordingly, FINRA proposes to extend

the expiration date of the temporary rule amendments in SR-FINRA-2020-
015 and SR-FINRA-2020-027 from April 30, 2021, to August 31, 2021.
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    \5\ See Securities Exchange Act Release No. 90619 (December 9,
2020), 85 FR 81250 (December 15, 2020) (Notice of Filing and
Immediate Effectiveness of File No. SR-FINRA-2020-042).
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i. SR-FINRA-2020-015
    As stated in its previous filings, FINRA proposed, and subsequently
extended, the changes set forth in SR-FINRA-2020-015 to temporarily
amend some timing, method of service and other procedural requirements
in FINRA rules during the period in which FINRA's operations are
impacted by the outbreak of COVID-19.\6\ Among other things, the need
for FINRA staff, with limited exceptions, to work remotely and restrict
in-person activities--consistent with the recommendations of public
health officials--have made it challenging to meet some procedural
requirements and perform some functions required under FINRA rules. For
example, working remotely makes it difficult to send and receive hard
copy documents and conduct in-person oral arguments.
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    \6\ See Securities Exchange Act Release No. 88917 (May 20,
2020), 85 FR 31832 (May 27, 2020) (Notice of Filing and Immediate
Effectiveness of File No. SR-FINRA-2020-015); Securities Exchange
Act Release No. 89055 (June 12, 2020), 85 FR 36928 (June 18, 2020)
(Notice of Filing and Immediate Effectiveness of File No. SR-FINRA-
2020-017); Securities Exchange Act Release No. 89423 (July 29,
2020), 85 FR 47278 (August 4, 2020) (Notice of Filing and Immediate
Effectiveness of File No. SR-FINRA-2020-022); supra note 5.
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    The temporary amendments have addressed these concerns by easing
logistical and other issues and providing FINRA with needed flexibility
for its operations during the COVID-19 outbreak, allowing FINRA to
continue critical adjudicatory and review processes in a reasonable and
fair manner and meet its critical investor protection goals, while also
following best practices with respect to the health and safety of its
staff.
    FINRA staff, with limited exceptions, continue to work remotely to
protect their health and safety. As indicated in its previous filings,
FINRA has established a COVID-19 task force to develop a data-driven,
staged plan for FINRA staff to safely return to working in FINRA office
locations and resume other in-person activities. Based on its
assessment of current COVID-19 conditions, FINRA does not believe the
COVID-19-related health concerns necessitating this relief will
meaningfully subside by April 30, 2021, and therefore proposes to
extend the expiration date of the temporary rule amendments originally
set forth in SR-FINRA-2020-015 from April 30, 2021, to August 31,
2021.\7\
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    \7\ See supra note 6 (outlining the filing history of SR-FINRA-
2020-015 and its prior extensions).
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ii. SR-FINRA-2020-027
    The same public health concerns and restrictions, along with a
corresponding backlog of disciplinary cases,\8\ led FINRA to file, and
subsequently extend to April 30, 2021, SR-FINRA-2020-027 to temporarily
amend FINRA Rules 1015, 9261, 9524, and 9830 to grant OHO and the NAC
authority \9\ to conduct hearings in connection with appeals of
Membership Application Program decisions, disciplinary actions,
eligibility proceedings and temporary and permanent cease and desist
orders by video conference, if warranted by the COVID-19-related public
health risks posed by an in-person hearing.\10\
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    \8\ For example, FINRA began temporarily postponing in-person
hearings as a result of the COVID-19 impacts on March 16, 2020.
    \9\ For OHO hearings under FINRA Rules 9261 and 9830, the
proposed rule change temporarily grants authority to the Chief or
Deputy Chief Hearing Officer to order that a hearing be conducted by
video conference. For NAC hearings under FINRA Rules 1015 and 9524,
this temporary authority is granted to the NAC or the relevant
Subcommittee.
    \10\ See Securities Exchange Act Release No. 89739 (September 2,
2020), 85 FR 55712 (September 9, 2020) (Notice of Filing and
Immediate Effectiveness of File No. SR-FINRA-2020-027); supra note
5.
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    As set forth in the previous filings, FINRA also relies on the
guidance of its health and safety consultant, in conjunction with
COVID-19 data and guidance issued by public health authorities, to
determine whether the current public health risks presented by an in-
person hearing may warrant a hearing by video conference.\11\ Based on
that guidance and data, FINRA does not believe the COVID-19-related
health concerns necessitating this relief will meaningfully subside by
April 30, 2021, and has determined that there will be a continued need
for this temporary relief for several months beyond that date.
Accordingly, FINRA proposes to extend the expiration date of the
temporary rule amendments originally set forth in SR-FINRA-2020-027
from April 30, 2021, to August 31, 2021.\12\ The extension of these
temporary amendments allowing for specified OHO and NAC hearings to
proceed by video conference will allow FINRA's critical adjudicatory
functions to continue to operate effectively in these extraordinary
circumstances--enabling FINRA to fulfill its statutory obligations to
protect investors and maintain fair and orderly markets--while also
protecting the health and safety of hearing participants.\13\
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    \11\ As noted in SR-FINRA-2020-027, the temporary proposed rule
change grants discretion to OHO and the NAC to order a video
conference hearing. In deciding whether to schedule a hearing by
video conference, OHO and the NAC may consider a variety of other
factors in addition to COVID-19 trends. In SR-FINRA-2020-027, FINRA
provided a non-exhaustive list of other factors OHO and the NAC may
take into consideration, including a hearing participant's
individual health concerns and access to the connectivity and
technology necessary to participate in a video conference hearing.
    \12\ See supra note 5.
    \13\ Since the temporary amendments were implemented, OHO and
the NAC have conducted several hearings by video conference. As of
March 16, 2021, OHO has conducted seven disciplinary hearings by
video conference (decisions have been issued in two of these cases)
and scheduled hearings in 11 other disciplinary matters, three of
which already have been ordered to proceed by video conference.
Also, as of March 16, 2021, the NAC, through the relevant
Subcommittee, has conducted 10 oral arguments by video conference in
connection with appeals of FINRA disciplinary proceedings pursuant
to FINRA Rule 9341(d), as temporarily amended. Furthermore, the NAC
has conducted via video conference a one-day evidentiary hearing in
a membership application proceeding pursuant to FINRA Rule 1015, as
temporarily amended.
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    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,\14\ 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. FINRA believes that the proposed rule change is also
consistent with Section 15A(b)(8) of the Act,\15\ which requires, among
other things, that FINRA rules provide a fair procedure for the
disciplining of members and persons associated with members.
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    \14\ 15 U.S.C. 78o-3(b)(6).
    \15\ 15 U.S.C. 78o-3(b)(8).
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    The proposed rule change, which extends the expiration date of the
temporary amendments to FINRA rules set forth in SR-FINRA-2020-015,
will continue to provide FINRA, and in some cases another party to a
proceeding, temporary modifications to its procedural requirements in
order to allow FINRA to maintain fair processes and protect investors
while operating in a remote work environment and with corresponding
restrictions on its activities. It is in the public interest, and
consistent with the Act's purpose, for FINRA to operate pursuant to
this temporary relief. The temporary

amendments allow FINRA to specify filing and service methods, extend
certain time periods, and modify the format of oral argument for FINRA
disciplinary and eligibility proceedings and other review processes to
cope with the current pandemic conditions. In addition, extending this
temporary relief will further support FINRA's disciplinary and
eligibility proceedings and other review processes that serve a
critical role in providing investor protection and maintaining fair and
orderly markets.
    The proposed rule change, which also extends the expiration date of
the temporary amendments to FINRA rules set forth in SR-FINRA-2020-027,
will continue to aid FINRA's efforts to timely conduct hearings in
connection with its core adjudicatory functions. Given current COVID-19
conditions and the uncertainty around when those conditions will
meaningfully improve, without this relief allowing OHO and NAC hearings
to proceed by video conference, FINRA might be required to postpone
some or all hearings indefinitely. FINRA must be able to perform its
critical adjudicatory functions to fulfill its statutory obligations to
protect investors and maintain fair and orderly markets. As such, this
relief is essential to FINRA's ability to fulfill its statutory
obligations and allows hearing participants to avoid the serious COVID-
19-related health and safety risks associated with in-person hearings.
    Among other things, this relief will allow OHO to conduct temporary
cease and desist proceedings by video conference so that FINRA can take
immediate action to stop ongoing customer harm and will allow the NAC
to timely provide members, disqualified individuals and other
applicants an approval or denial of their applications. As set forth in
detail in the original filing, this temporary relief allowing OHO and
NAC hearings to proceed by video conference accounts for fair process
considerations and will continue to provide fair process while avoiding
the COVID-19-related public health risks for hearing participants.
Accordingly, the proposed rule change extending this temporary relief
is in the public interest and consistent with the Act's purpose.

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

    FINRA does not believe that the temporary proposed rule change will
result in any burden on competition that is not necessary or
appropriate in furtherance of the purposes of the Act. As set forth in
SR-FINRA-2020-015 and SR-FINRA-2020-027, the proposed rule change is
intended solely to extend temporary relief necessitated by the
continued impacts of the COVID-19 outbreak and the related health and
safety risks of conducting in-person activities. FINRA believes that
the proposed rule change will prevent unnecessary impediments to
FINRA's operations, including its critical adjudicatory processes, and
its ability to fulfill its statutory obligations to protect investors
and maintain fair and orderly markets that would otherwise result if
the temporary amendments were to expire on April 30, 2021.

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 \16\ and Rule 19b-
4(f)(6) thereunder.\17\
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    \16\ 15 U.S.C. 78s(b)(3)(A).
    \17\ 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.
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    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. As FINRA requested in connection
with SR-FINRA-2020-015 and related extensions,\18\ FINRA has also asked
the Commission to waive the 30-day operative delay so that this
proposed rule change may become operative immediately upon filing.
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    \18\ See SR-FINRA-2020-015, 85 FR at 31836. Although FINRA did
not request that the Commission waive the 30-day operative delay for
SR-FINRA-2020-027, FINRA did request that the Commission waive the
30-day operative delay for SR-FINRA-2020-042, which extended the
expiration date of the temporary amendments originally set forth in
SR-FINRA-20202-027.
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    FINRA has indicated that extending the relief provided originally
in SR-FINRA-2020-015 and SR-FINRA-2020-027 will continue to ease
logistical and other issues by providing FINRA with needed flexibility
for its operations during the COVID-19 outbreak. Importantly, extending
the relief provided in these prior rule changes immediately upon filing
and without a 30-day operative delay will allow FINRA to continue
critical adjudicatory and review processes in a reasonable and fair
manner and meet its critical investor protection goals, while also
following best practices with respect to the health and safety of its
employees.\19\ The Commission also notes that this proposal, like SR-
FINRA-2020-015 and SR-FINRA-2020-027, provides only temporary relief
during the period in which FINRA's operations are impacted by COVID-19.
As proposed, the changes would be in place through August 31, 2021.\20\
FINRA also noted in both SR-FINRA-2020-015 and SR-FINRA-2020-027 that
the amended rules will revert back to their original state at the
conclusion of the temporary relief period and, if applicable, any
extension thereof.\21\ For these reasons, the Commission believes that
waiver of the 30-day operative delay for this proposal 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.\22\
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    \19\ See supra p. 4; see also SR-FINRA-2020-015, 85 FR at 31833.
    \20\ As noted above, see supra note 4, FINRA states that if it
requires temporary relief from the rule requirements identified in
this proposal beyond August 31, 2021, it may submit a separate rule
filing to extend the effectiveness of the temporary relief under
these rules.
    \21\ See SR-FINRA-2020-015, 85 FR at 31833; see also SR-FINRA-
2020-027, 85 FR at 55712.
    \22\ 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).
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    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-2021-006 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-2021-006. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549, on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of 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-2021-006
and should be submitted on or before May 4, 2021.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\23\
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    \23\ 17 CFR 200.30-3(a)(12).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-07494 Filed 4-12-21; 8:45 am]
BILLING CODE 8011-01-P