[Federal Register Volume 83, Number 94 (Tuesday, May 15, 2018)]
[Notices]
[Pages 22565-22567]
[FR Doc No: 2018-10260]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83200; File No. SR-CboeBZX-2018-031]

Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To Modify
Certain Routing Fees Related to its Equity Options Platform

May 9, 2018.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on May 1, 2018, Cboe BZX Exchange, Inc. (the ``Exchange'' or
``BZX'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I, II
and III below, which Items have been prepared by the Exchange. The
Exchange has designated the proposed rule change as one establishing or
changing a member due, fee, or other charge imposed by the Exchange
under Section 19(b)(3)(A)(ii) of the Act \3\ and Rule 19b-4(f)(2)
thereunder,\4\ which renders the proposed rule change effective upon
filing with the Commission. The Commission is publishing this notice to
solicit comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \4\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

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

    The Exchange filed a proposal to modify certain Routing Fees
related to its equity options platform.
    The text of the proposed rule change is available at the Exchange's
website at www.markets.cboe.com, at the principal office of the
Exchange, and at the Commission's Public Reference Room.

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

    In its filing with the Commission, the Exchange 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 Exchange has prepared summaries, set forth in
Sections A, B, and C below, of the most significant parts of such
statements.

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

1. Purpose
    The Exchange proposes to amend its fee schedule for its equity
options platform (``BZX Options'') to make certain changes to the
following tiers: (i) Quoting Incentive Program (``QIP'') Tier 2 under
footnote 5; (ii) Non-Customer Non-Penny Pilot Take Volume Tiers 1 and 2
under footnote 13; and (iii) Non-Customer Penny Pilot Take Volume Tiers
1 and 3 under footnote 3, effective May 1, 2018.
QIP Volume Tier 2
    The Exchange currently offers two QIP Tiers under footnote 5, which
provide an additional rebate ranging from $0.02 to $0.04 per contract
for qualifying Market Maker \5\ orders that add liquidity in: (i) Penny
Pilot Securities that yield fee code PM and; (ii) Non-Penny Pilot
Securities that yield fee code NM. The additional rebate per contract
is for an order that adds liquidity to BZX Options in options classes
in which a Member is a Market Maker registered pursuant to Exchange
Rule 22.2. The Exchange now proposes to amend the required criteria for
QIP Tier 2. Particularly, under current Tier 2, a Member may receive an
additional rebate of $0.04 per contract where they have an ADAV \6\ in
Market Maker orders greater than or equal to 0.35% of average OCV.\7\
The Exchange proposes to amend the required criteria for Tier 2 to now
require that the Member have an ADAV in Market Maker orders greater
than or equal to 1.40% of average OCV.
---------------------------------------------------------------------------

    \5\ A Market Maker must be registered with BZX Options in an
average of 20% or more of the associated options series in a class
in order to qualify for QIP rebates for that class.
    \6\ ``ADAV'' means average daily added volume calculated as the
number of contracts added per day. See Exchange Fee Schedule.
    \7\ ``OCV'' means the total equity and ETF options volume that
clears in the Customer range at the Options Clearing Corporation
(``OCC'') for the month for which the fees apply, excluding volume
on any day that the Exchange experiences an Exchange System
Disruption and on any day with a scheduled early market close. See
Exchange Fee Schedule.

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

Non-Customer Non-Penny Pilot Take Volume Tiers 1 and 2
    Fee code NP is currently appended to all Non-Customer orders in
Non-Penny Pilot Securities that remove liquidity, and result in a
standard fee of $1.10 per contract. The Exchange currently offers two
Non-Customer Non-Penny Pilot Take Volume Tiers (``NP Volume Tiers'')
under footnote 13, which provide a reduced fee of $1.04 per contract
for orders that that yield fee code NP. The Exchange proposes to
increase the rates set forth in NP Volume Tiers 1 and 2. Specifically,
NP Volume Tiers 1 and 2 will increase from $1.04 per contract to $1.07
per contract. The Exchange notes that the proposed rates still provide
a discount from the standard Non-Customer NP rate and will continue to
provide an incentive for Members to strive for the tier levels, which
provide a discount off the standard rate.
Non-Customer Penny Pilot Take Volume Tiers 1 and 3
    Fee code PP is currently appended to all Non-Customer orders in
Penny Pilot Securities that remove liquidity, and result in a standard
fee of $0.50 per contract. The Exchange currently offers three Non-
Customer Penny Pilot Take Volume Tiers under footnote 3, which provide
reduced fees ranging from $0.44 to $0.47 per contract for orders that
that yield fee code PP.
    Pursuant to Volume Tier 1, a Member will pay a reduced fee
(currently $0.44 per contract) if the Member (i) has an ADAV in
Customer orders greater than or equal to 0.80% of average OCV; (ii) has
an ADAV in Market Maker orders greater than or equal to 0.35% of
average OCV; and (iii) has on BZX Equities an ADAV greater than or
equal to 0.30% of average TCV.\8\ The Exchange proposes to add a fourth
prong that requires the member to have an ADAV in Customer Non-Penny
orders greater than or equal to 0.05% of average OCV.
---------------------------------------------------------------------------

    \8\ ``TCV'' means total consolidated volume calculated as the
volume reported by all exchanges to the consolidated transaction
reporting plan for the month for which the fees apply, excluding
volume on any day that the Exchange experiences an Exchange System
Disruption and on any day with a scheduled early market close.
---------------------------------------------------------------------------

    Pursuant to Volume Tier 3, a Member will pay a reduced fee
(currently $0.44 per contract) if the Member has an ADAV in Customer
orders greater than or equal to 1.70% of average OCV. The Exchange
proposes to add a second prong that requires the member to have an ADAV
in Customer Non-Penny orders greater than or equal to 0.30% of average
OCV. The Exchange believes the proposed changes will encourage the
entry of additional orders to the Exchange.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with the objectives of Section 6 of the Act,\9\ in general, and
furthers the objectives of Section 6(b)(4),\10\ in particular, as it is
designed to provide for the equitable allocation of reasonable dues,
fees and other charges among its Members and other persons using its
facilities.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78f.
    \10\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

    The Exchange believes the increase to the rates in NP Volume Tiers
1 and 2 is reasonable because Members submitting Non-Customer orders
still have the opportunity to receive a lower fee in Non-Penny Pilot
classes than the standard rate (albeit less of a discount than before).
The Exchange also believes the rates will continue to provide an
incentive for Members to strive for the tier levels, which provide
discounts off the standard rate. The Exchange believes the proposed
changes are equitable and nondiscriminatory because the proposed
changes apply uniformly to all Members.
    The Exchange next notes that volume-based discounts such as those
currently maintained on the Exchange have been widely adopted by
options exchanges and are equitable and non-discriminatory because they
are open to all Members on an equal basis and provide additional
benefits or discounts that are reasonably related to the value of an
exchange's market quality associated with higher levels of market
activity, such as higher levels of liquidity provision and/or growth
patterns, and introduction of higher volumes of orders into the price
and volume discovery processes. While the proposed modifications to the
existing QIP Tier 2 and NP Volume Tiers [sic] make such tiers more
difficult to attain, each is intended to incentivize Members to send
additional Market Maker and/or Customer orders, respectively, to the
Exchange in an effort to qualify or continue to qualify for the lower
fees made available by the tiers. As such, the Exchange also believes
that the proposed changes are reasonable. The Exchange notes that
increased volume on the Exchange provides greater trading opportunities
for all market participants.

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

    The Exchange believes the proposed amendments to its fee schedule
would not impose any burden on competition that is not necessary or
appropriate in furtherance of the purposes of the Act. The Exchange
does not believe that the proposed changes represent a significant
departure from previous pricing offered by the Exchange or pricing
offered by the Exchange's competitors. Members may opt to disfavor the
Exchange's pricing if they believe that alternatives offer them better
value. Accordingly, the Exchange does not believe that the proposed
change will impair the ability of Members or competing venues to
maintain their competitive standing in the financial markets.

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

    The Exchange has not solicited, and does not intend to solicit,
comments on this proposed rule change. The Exchange has not received
any written comments from members or other interested parties.

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

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \11\ and paragraph (f) of Rule 19b-4
thereunder.\12\ 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.
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78s(b)(3)(A).
    \12\ 17 CFR 240.19b-4(f).
---------------------------------------------------------------------------

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 protected]. Please include
File Number SR-CboeBZX-2018-031 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-CboeBZX-2018-031. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549, on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of the filing also will be available for inspection
and copying at the principal office of the Exchange. All comments
received will be posted without change. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-CboeBZX-2018-031, and should be
submitted on or before June 5, 2018.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\13\
---------------------------------------------------------------------------

    \13\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-10260 Filed 5-14-18; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register: April 29, 2010 (Volume 75, Number 82)]
[Notices]
[Page 22668-22669]
[DOCID:fr29ap10-131]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-61960; File No. SR-BATS-2010-008]

Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of
Filing of Proposed Rule Change To Amend BATS Rules 2.5 and 17.2
Applicable to Registration Requirements

April 22, 2010.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on April 9, 2010, BATS Exchange, Inc. (the ``Exchange'' or
``BATS'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I, II
and III below, which Items have been prepared by the Exchange. The
Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
---------------------------------------------------------------------------

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

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

    The Exchange is proposing to amend BATS Rule 2.5, entitled
``Restrictions,'' to require each Exchange Member to register with the
Exchange: (i) At least two principals to supervise Authorized Traders
of the Member (subject to certain exceptions), and (ii) at least one
financial and operations principal. The Exchange also proposes a
technical amendment to BATS Rule 17.2(g)(4) to eliminate language that
becomes unnecessary due to the changes to BATS Rule 2.5.
    The text of the proposed rule change is available at the Exchange's
Web site at http://www.batstrading.com, at the principal office of the
Exchange, and at the Commission's Public Reference Room.\3\
---------------------------------------------------------------------------

    \3\ The text is attached as Attachment A to this filing.
---------------------------------------------------------------------------

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 Exchange 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 Exchange has prepared summaries, set forth in
Sections A, B, and C below, of the most significant parts of such
statements.

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

1. Purpose
    Exchange Rule 2.5 states that the Series 7 is required for
registration with the Exchange as an Authorized Trader. The term
``Authorized Trader'' means ``a person who may submit orders (or who
supervises a routing engine that may automatically submit orders) to
the Exchange's trading facilities on behalf of his or her Member or
Sponsored Participant. Accordingly, all traders that participate in the
routing of orders to the Exchange, including proprietary traders, are
required to be registered with the Exchange and Series 7 qualified.
Further, the term Authorized Trader includes a trader that submits
orders, or supervises a routing engine that automatically submits
orders, to either the Exchange's equities platform, options platform,
or both.
    The purpose of the proposed rule change is to expand the
representative registration requirements applicable to each Member of
the Exchange to ensure that Authorized Traders of Members are
appropriately supervised and that the Exchange does not, through its
rules, generate any gaps that permit a Member to operate differently
than such Member would have to operate under the registration rules of
other self-regulatory organizations. Specifically, the Exchange
proposes to require each Member to register as representatives with the
Exchange at least two Series 24 qualified Principals (subject to
certain exceptions) to supervise such Member's Authorized Traders and
one Series 27 qualified principal to supervise the financial and
operational activities of such Member. The Exchange believes that the
proposed rule change will help to make the Exchange's registration
requirements more consistent with the registration requirements of
other self-regulatory organizations. The Exchange understands that
other self-regulatory organizations that do not require registered
principals to supervise certain activities are currently undertaking a
similar rulemaking effort.
    The Exchange has proposed certain exceptions to the general
requirements that a Member register two Series 24 qualified Principals
and one Series 27 qualified Financial/Operations Principal. With
respect to the two Principal requirement, the Exchange proposes to
exempt any Member that meets the proposed definition of a ``proprietary
trading firm'' and has 25 or fewer Authorized Traders. Such Members,
defined as Limited Size Proprietary Firms for purposes of the proposed
Interpretation and Policy, are only required to maintain one Series 24
registered Principal. In addition, under the proposed Rule the Exchange
may waive the requirement to register two Series 24 qualified
Principals if the Member can demonstrate that such waiver is warranted
under the circumstances. The Exchange has proposed to define a
proprietary trading firm as ``a Member that trades its own capital,
that does not have customers, and that is not a member of the Financial
Industry Regulatory Authority.'' \4\ In addition, as proposed, the Rule
states that funds used by a proprietary trading firm must be
exclusively firm funds, that all trading must be in the firm's
accounts, and that traders must be owners of, employees of, or
contractors to the firm. The Exchange has also proposed to exclude
brokers or dealers from the definition of customer for purposes of the
proprietary trading firm definition.\5\ With respect to the Financial/
Operations Principal requirement, the Exchange may waive the
requirement to register a Series 27 qualified Financial/Operations
Principal if such registration is not required by the Member's
designated examining authority. Finally, any Member that conducts
business on the Exchange as an Options Member is required by BATS Rules
17.1(b) and 17.2(g) to register an Options Principal with the Exchange
who is responsible for that Member's options related activities on the
Exchange. Accordingly, the proposed rule makes clear that a Member that
solely conducts business on the Exchange as an Options Member is not
also required to register Series 24 qualified Principals with the
Exchange.
---------------------------------------------------------------------------

    \4\ See proposed BATS Rule 2.5, Interpretation and Policy
.01(g).
    \5\ See proposed BATS Rule 2.5, Interpretation and Policy
.01(h).
---------------------------------------------------------------------------

    In addition to adopting the principal registration requirements
described

above, the Exchange proposes modifications to Interpretation and Policy
.02, which currently requires Authorized Traders to complete continuing
education requirements similar to those required by other national
securities exchanges. Due to the addition of the principal registration
requirements described above and the recent addition of an Options
Principal requirement, the Exchange proposes to modify its continuing
education rule to make clear that all Authorized Traders, Principals,
Financial/Operations Principals and Options Principals (collectively
``Registered Representatives'') are subject to continuing education
requirements in order to maintain their registrations with the
Exchange. Because the text would then become unnecessary, the Exchange
also proposes to delete language from BATS Rule 17.2(g)(4) that
currently makes clear that an Options Principal is subject to
continuing education requirements.
    Although the Exchange believes that most of its Members will be in
position to quickly register Principals and Financial/Operations
Principals with the Exchange due to the rules of other self-regulatory
organizations to which such Members belong, it has proposed a
compliance date of September 30, 2010. The Exchange believes that such
date will provide its Members with adequate time to the extent
additional personnel must pass qualification examinations in order for
their Member firms to be compliant with the proposed Rules.
2. Statutory Basis
    The rule change proposed in this submission is consistent with the
requirements of the Act and the rules and regulations thereunder that
are applicable to a national securities exchange, and, in particular,
with the requirements of Section 6(b) of the Act.\6\ Specifically, the
proposed change is consistent with Section 6(b)(5) of the Act,\7\
because it would promote just and equitable principles of trade, remove
impediments to, and perfect the mechanism of, a free and open market
and a national market system, and, in general, protect investors and
the public interest, by adopting rules requiring supervisory principals
to pass qualification examinations and maintain their registrations in
a manner consistent with the requirements of other self-regulatory
organizations.
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78f(b).
    \7\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The proposed change is also consistent with Section 6(c)(3)(B) of
the Act,\8\ since under that section it is the Exchange's
responsibility to prescribe standards of training, experience and
competence for persons associated with Exchange Members. In addition,
the Exchange has authority under Section 6(c)(3)(B) of the Act,\9\ to
bar a natural person from becoming a Member or person associated with a
Member, if the person does not meet the standards of training,
experience and competence as are prescribed in the rules of the
Exchange.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78f(c)(3)(B).
    \9\ 15 U.S.C. 78f(c)(3)(B).
---------------------------------------------------------------------------

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

    The Exchange does not believe that the proposed rule change imposes
any burden on competition.

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

    The Exchange has neither solicited nor received written comments on
the proposed rule change.

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

    Within 35 days of the date of publication of this notice in the
Federal Register or within such longer period (i) as the Commission may
designate up to 90 days of such date if it finds such longer period to
be appropriate and publishes its reasons for so finding or (ii) as to
which the self-regulatory organization consents, the Commission will:
    A. By order approve such proposed rule change, or
    B. Institute proceedings to determine whether the proposed rule
change should be disapproved.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://
www.sec.gov/rules/sro.shtml); or
     Send an e-mail to<EMAIL_ADDRESS>Please include
File No. SR-BATS-2010-008 on the subject line.

Paper Comments

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

All submissions should refer to File No. SR-BATS-2010-008. This file
number should be included on the subject line if e-mail is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/
sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street, NE.,
Washington, DC 20549, on official business days between the hours of 10
a.m. and 3 p.m. Copies of such filing also will be available for
inspection and copying at the principal office of BATS. 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 No. SR-BATS-2010-008 and should be
submitted on or before May 20, 2010.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
---------------------------------------------------------------------------

    \10\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-9874 Filed 4-28-10; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 81, Number 94 (Monday, May 16, 2016)]
[Notices]
[Pages 30300-30301]
[FR Doc No: 2016-11508]

=======================================================================
-----------------------------------------------------------------------

ENVIRONMENTAL PROTECTION AGENCY

[FRL-9946-42-OW]

National Wetland Condition Assessment 2011 Final Report

AGENCY: Environmental Protection Agency.

ACTION: Notice of availability.

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

SUMMARY: This notice announces the availability of EPA's report on the
National Wetland Condition Assessment (NWCA) 2011. The NWCA describes
the results of the nationwide probabilistic survey that was conducted
in the spring and summer of 2011 by EPA and its state and tribal
partners. The NWCA 2011 report includes information on how the survey
was implemented, what the findings are on a national and ecoregional
scale, and future actions.

FOR FURTHER INFORMATION CONTACT: Gregg Serenbetz, Office of Wetlands,
Oceans and Watersheds, Office of Water (4502T), Washington, DC. Phone:
202-566-1253; email<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. General Information

    The National Wetland Condition Assessment 2011: A Collaborative
Survey of the Nation's Wetlands is the first report to use a
statistically-valid random design to assess the condition of the
nation's wetlands. It is one of a series of National Aquatic Resource
Surveys (NARS), a national-scale monitoring program designed to produce
statistically-valid assessments that answer critical questions about
the condition of waters in the United States.
    The key goals of the NWCA are to: (1) Describe the ecological
condition of the nation's wetlands and stressors commonly associated
with poor condition; (2) collaborate with states and tribes in
developing complementary monitoring tools, analytical approaches, and
data management technology to aid wetland protection and restoration
program, and (3) advance the science of wetland monitoring and
assessment to support wetland management needs. Using a statistical
survey design, 967 sites were selected at random to represent the
condition of wetlands across the lower 48 states. Both tidal and
nontidal wetlands were targeted for sampling.
    The NWCA finds less than half of wetland area nationally (48%) is
in good condition; 32% is in poor condition and

the remaining 20% is in fair condition based on assessments of the
plant community. Physical disturbances to wetlands and their
surrounding habitat such as compacted soil, ditching, or removal of
plants, are the most widespread problems across the country.
Approximately a quarter of wetland area nationally has high stress
levels for surface hardening, vegetation removal, and ditching. The
report has undergone public, peer, state/tribal, and EPA review.

A. How can I get copies of the NWCA 2011 report and other related
information?

    You may view and download the final report from EPA's Web site at:
http://www.epa.gov/national-aquatic-resource-surveys/nwca.

    Dated: May 8, 2016.
Joel Beauvais,
Deputy Assistant Administrator, Office of Water.
[FR Doc. 2016-11508 Filed 5-13-16; 8:45 am]
 BILLING CODE 6560-50-P