[Federal Register Volume 82, Number 136 (Tuesday, July 18, 2017)]
[Notices]
[Pages 32904-32905]
[FR Doc No: 2017-14986]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-81133; File No. SR-NASDAQ-2017-065]

Self-Regulatory Organizations; The NASDAQ Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Increase the Trading Rights Fee

July 12, 2017.
    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 June 29, 2017, The NASDAQ Stock Market LLC (``Nasdaq'' or
``Exchange'') filed with the Securities and Exchange Commission
(``SEC'' or ``Commission'') the proposed rule change as described in
Items I, II, and III below, which Items have been prepared by the
Exchange. 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

    The Exchange proposes to amend the Exchange's trading rights fee at
Rule 7001(a) to increase the fee from $1,000 per month to $1,250 per
month, as described further below. While these amendments are effective
upon filing, the Exchange has designated the proposed amendments to be
operative on July 1, 2017.
    The text of the proposed rule change is available on the Exchange's
Web site at http://nasdaq.cchwallstreet.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 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 purpose of the proposed rule change is to increase its monthly
trading rights fee under Rule 7001(a). The trading rights fee is
assessed on all Nasdaq members and helps defray the cost of regulating
the Nasdaq market. The Exchange last increased the fee in 2012,\3\
increasing the fee from $500 per month to $1,000 per month, while the
cost of regulation has increased since that time. In proposing the
change, the Exchange is more closely aligning the fee assessed with the
benefit provided by allowing members to trade on a well-regulated
market, the cost of which is incurred by the Exchange in the systems
and people that support oversight of the market. Nasdaq believes that
even with the fee increase, the cost of Nasdaq membership will continue
to be generally lower than the cost of membership in other SROs.\4\
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    \3\ See Securities Exchange Act Release No. 66905 (May 2, 2012),
77 FR 27105 (May 8, 2012) (SR-NASDAQ-2012-056).
    \4\ For example, the Exchange believes that the New York Stock
Exchange (``NYSE'') Trading License Fee is analogous to membership
fees of NASDAQ as they both provide access to the trading facilities
of their respective exchanges. In this regard, NYSE assesses an
annual fee of $50,000 for the first license held by a member
organization. See https://www.nyse.com/publicdocs/nyse/markets/nyse/NYSE_Price_List.pdf. By contrast, NASDAQ would assess the proposed a
[sic] monthly trading rights fee of $1,250 ($15,000 annually),
together with an annual membership fee of $3,000, and a monthly
market participant identifier fee of $550 per MPID ($6,600
annually). See Rule 7001.
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2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\5\ in general, and furthers the objectives of Sections
6(b)(4) and 6(b)(5) of the Act,\6\ in particular, in that it provides
for the equitable allocation of reasonable dues, fees and other charges
among members and issuers and other persons using any facility, and is
not designed to permit unfair discrimination between customers,
issuers, brokers, or dealers.
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    \5\ 15 U.S.C. 78f(b).
    \6\ 15 U.S.C. 78f(b)(4) and (5).
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    Nasdaq believes that the fee change is reasonable because the
increased fee continues to be less than the analogous fees of other
markets. For example, the Exchange's membership fees will continue to
remain substantially lower than the analogous fees assessed by the New
York Stock Exchange for membership, which assesses an annual fee of
$50,000 for the first license held by a member organization. The
Exchange believes that the proposed fee increase is an equitable
allocation and is not unfairly discriminatory because the Exchange must
adjust fees from time to time so that it can continue to cover costs
and to make a profit on the products and services it offers. The
proposed increased fee will apply to all members and it will allow the
Exchange to cover the costs of providing its members with a well-
regulated market. These costs include investing in the systems and
people that support oversight of the market

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

    The Exchange does not believe that the proposed rule change will
impose any burden on competition not necessary or appropriate in
furtherance of the purposes of the Act. In terms of inter-market
competition, the Exchange notes that it operates in a highly
competitive market in which market participants can readily favor
competing venues if they deem fee levels at a particular venue to be
excessive, or

rebate opportunities available at other venues to be more favorable. In
such an environment, the Exchange must carefully consider any increases
to its fees, balancing its desire to remain competitive with other
exchanges and with alternative trading systems that have been exempted
from compliance with the statutory standards applicable to exchanges,
while also considering its need to cover the costs associated with
providing a well-regulated market. Because competitors are free to
modify their own fees in response, and because members are not
compelled to be members of the Exchange and may trade on numerous other
exchanges and other alternative trading systems, Nasdaq believes that
the degree to which fee changes in this market may impose any burden on
competition is extremely limited.
    In this instance, the proposed changes to the trading rights fee
does [sic] not impose a burden on competition because membership in,
and use of, the Exchange is wholly voluntary and the Exchange is
subject to significant competition from other exchanges and other
trading venues. If the proposed fee increase is unattractive to
members, it is likely that the Exchange will lose membership and market
share as a result. Moreover, the Exchange must increase fees to cover
the costs associated with maintaining and enhancing its regulatory
programs to ensure that the Exchange remains a well-regulated trading
venue. Thus, to the extent that the fee does represent a burden on
competition, such burden is necessary to further purposes of the Act.
Accordingly, the Exchange does not believe that the proposed changes
will impair the ability of members or competing order execution 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

    No written comments were either solicited or received.

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)(ii) of the Act.\7\
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    \7\ 15 U.S.C. 78s(b)(3)(A)(ii).
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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: (i)
Necessary or appropriate in the public interest; (ii) for the
protection of investors; or (iii) 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-NASDAQ-2017-065 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-NASDAQ-2017-065. 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 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
10:00 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; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-NASDAQ-2017-065 and should
be submitted on or before August 8, 2017.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
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    \8\ 17 CFR 200.30-3(a)(12).
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Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2017-14986 Filed 7-17-17; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 81, Number 65 (Tuesday, April 5, 2016)]
[Notices]
[Pages 19661-19664]
[FR Doc No: 2016-07683]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-77476; File No. SR-BATS-2016-17]

Self-Regulatory Organizations; BATS Exchange, Inc.; Order
Approving Proposed Rule Change, as Modified by Amendment No. 1 Thereto,
To Amend BATS' Rules Regarding the Auction Process for Securities
Subject to an Initial Public Offering

March 30, 2016.

I. Introduction

    On February 10, 2016, BATS Exchange, Inc. (the ``Exchange'' or
``BATS'') filed with the Securities and Exchange Commission (``SEC'' or
``Commission''), pursuant to Section 19(b)(1) of the Securities
Exchange Act of 1934 (``Act''),\1\ and Rule 19b-4 thereunder,\2\ a
proposed rule change to amend BATS Rule 11.23, entitled ``Auctions,''
with regard to the handling of orders during an initial public offering
(``IPO'') auction. On February 22, 2016, the Exchange filed Amendment
No. 1 to the proposed rule change.\3\ The proposed rule change, as
modified by Amendment No. 1, was published for comment in the Federal
Register on February 29, 2016.\4\ The Commission has received no
comment letters regarding the proposal. This order approves the
proposed rule change, as modified by Amendment No. 1.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ In Amendment No. 1, the Exchange corrected a technical error
regarding incorrect terminology used in a footnote and clarified a
sentence regarding an order with a time-in-force of ``Regular Hours
Only'' (``RHO'') that would be converted to an order with a time-in-
force of ``Day'' under the proposed rule change.
    \4\ See Securities Exchange Act Release No. 77222 (February 24,
2016), 81 FR 10345 (SR-BATS-2016-17) (``Notice'').
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II. Description of the Proposal

    The Exchange proposes to: (1) Amend BATS Rule 11.23(a)(8) to modify
the term ``Eligible Auction Order'' to delineate the types of orders
that may participate in an auction for a BATS listed corporate security
\5\ in an IPO on the Exchange (``IPO Auction''); \6\ and (2) amend
subparagraphs (d)(1)(A) and (d)(2) of BATS Rule 11.23 to modify the
rules governing the Quote-Only Period \7\ during an Auction.
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    \5\ A BATS listed corporate security is a security listed on the
Exchange pursuant to Chapter 14 of the Exchange's Rules that is not
an Exchange Traded Product (``ETP'') listed on the Exchange pursuant
to Exchange Rule 14.11.
    \6\ See Notice, supra note 4, at 10345-48. The Exchange also
proposes a conforming change to BATS Rule 11.1, entitled ``Hours of
Trading and Trading Days.'' See Notice, supra note 4, at 10346,
n.19.
    \7\ See BATS Rule 11.23(a)(17) (defining ``Quote-Only Period''
as a designated period of time prior to a Halt Auction, a Volatility
Closing Auction, or an IPO Auction during which Users may submit
orders to the Exchange for participation in the auction). A ``User''
is means any Member or Sponsored Participant who is authorized to
obtain access to the Exchange's system pursuant to BATS Rule 11.3.
See BATS Rule 1.5(cc).
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A. Changes to the Definition of Eligible Auction Order

    Currently, ``Eligible Auction Order'' is defined as any Market-On-
Open (``MOO''),\8\ Limit-On-Open (``LOO''),\9\ Late-Limit-On-Open
(``LLOO''),\10\ Market-On-Close (``MOC''),\11\ Limit-On-Close
(``LOC''),\12\ or Late-Limit-On-Close (``LLOC'')\13\ order that is
entered in compliance with its respective cutoff for an Opening or
Closing Auction,\14\ any RHO \15\ order prior to the Opening Auction,
any Limit Order \16\ or Market Order \17\ not designated to exclusively
participate in the Closing Auction entered during the Quote-Only Period
of an IPO Auction,\18\ and any Limit or Market Order not designated to
exclusively participate in the Opening or Closing Auction entered
during the Quote-Only Period of a Halt Auction.\19\ The Exchange
proposes to amend the definition of Eligible Auction Orders to either
reject, convert, or ignore certain types of orders.\20\ As proposed,
Limit Orders and BATS Market Orders, the two main types of orders
offered by the Exchange, that are entered during the Quote-Only Period
would be allowed to participate in an IPO Auction for a BATS listed
corporate security provided they do not also include one or more of the
modifiers described below.\21\
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    \8\ See BATS Rule 11.23(a)(16).
    \9\ See BATS Rule 11.23(a)(14).
    \10\ See BATS Rule 11.23(a)(12).
    \11\ See BATS Rule 11.23(a)(15).
    \12\ See BATS Rule 11.23(a)(13).
    \13\ See BATS Rule 11.23(a)(11).
    \14\ The Opening and Closing Auction processes are described in
BATS Rules 11.23(b) and (c).
    \15\ See BATS Rule 11.9(b)(7).
    \16\ See BATS Rule 11.9(a)(1).
    \17\ See BATS Rule 11.9(a)(2).
    \18\ See BATS Rule 11.23(d)(1)(A) (describing Quote-Only
Period).
    \19\ See BATS Rule 11.23(a)(8). The Exchange also proposes to
amend BATS Rule 11.1(a) to make clear that it will not accept BATS
Market Orders that are not Eligible Auction Orders prior to 8:00
a.m. Eastern Time, see Notice, supra note 4, at 10346, n.19, and to
make conforming changes to BATS Rules 11.23(b) and 11.23(c).
    \20\ See Notice, supra note 4, at 10345.
    \21\ See Notice, supra note 4, at 10345-48. The Exchange does
not propose to amend the types of Eligible Auction Orders that may
participate in an auction for a newly listed ETP. See id. at 10345.
An Exchange Traded Product is a security that is listed on the
Exchange pursuant to BATS Rule 14.11.
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Types of Orders to be Accepted or Rejected
    The Exchange proposes to exclude the following types of orders from
participation in an IPO Auction and would reject such orders: (1) Stop
Orders \22\ and Stop Limit Orders; \23\ (2) Pegged Orders,\24\ Mid-
Point Peg Orders,\25\ Market Maker Peg Orders \26\ and Supplemental Peg
Orders; \27\ (3) Minimum Quantity Orders \28\ and Discretionary Orders;
\29\ (4) MOC, LOC and LLOC orders; and (5) orders with a time-in-force
of Fill-or-Kill (``FOK'') \30\ and orders with a time-in-force of Good-
`til-Day (``GTD'') \31\ with an expiration time earlier than 4:00 p.m.
Eastern Time. Such orders entered to participate in an IPO Auction
would be rejected.\32\
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    \22\ See BATS Rule 11.9(c)(17).
    \23\ See BATS Rule 11.9(c)(18).
    \24\ See BATS Rule 11.9(c)(8).
    \25\ See BATS Rule 11.9(c)(9).
    \26\ See BATS Rule 11.9(c)(16).
    \27\ See BATS Rule 11.9(c)(19).
    \28\ See BATS Rule 11.9(c)(5).
    \29\ See BATS Rule 11.9(c)(10).
    \30\ See BATS Rule 11.9(b)(6).
    \31\ See BATS Rule 11.9(b)(4).
    \32\ See proposed BATS Rule 11.23(a)(8)(A). See also Notice,
supra note 4, at 10346.
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Types of Orders to be Converted
    The Exchange also proposes to specify the types of orders that
would be converted by the Exchange for purposes of participating in the
IPO Auction for a BATS listed corporate security.\33\ Specifically,
under the proposal, the following types of orders would be converted:
(1) Market Orders with a time-in-force of Immediate-or-Cancel (``IOC'')
\34\ would be converted to a MOO and a Limit Order with a time-in-force
of IOC would be converted to a LOO; (2) orders with a time-in-force of
RHO would be converted to orders with a time-in-force of Day; and (3)
any orders eligible to be routed would be

converted to a BATS Only Order.\35\ Under the proposal, upon completion
of the IPO Auction, any remainder not executed in the auction would be
placed on the BATS Book, executed, cancelled or routed away in
accordance with the converted terms of the order. Such orders would not
revert back to the original type modifier the User included with the
order.\36\
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    \33\ See proposed BATS Rule 11.23(a)(8)(B). See also Notice,
supra note 4, at 10346-47.
    \34\ See BATS Rule 11.9(b)(1).
    \35\ See proposed BATS Rule 11.23(a)(8)(B). See also Notice,
supra note 4, at 10346.
    \36\ See Notice, supra note 4, at 10346.
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Modifiers To Be Ignored
    The Exchange also proposes to ignore certain order modifiers for
orders that have been entered to participate in an IPO Auction.\37\
Specifically, the following modifiers would be handled as follows
during an IPO Auction: (1) A Match Trade Prevention (``MTP'')
modifier,\38\ would not be applied until the IPO Auction is complete,
but it would be applied in the event any unexecuted portion is placed
on the BATS Book; \39\ (2) an instruction to treat an order as an
Attributable Order \40\ would not be applied in an IPO Auction and
would be permanently ignored with respect to the order, meaning that
any such order's execution would be displayed anonymously; \41\ (3) an
Intermarket Sweep Order (``ISO'') \42\ Instruction or a Post Only
instruction included with a Limit Order would not be applied in an IPO
Auction and would be permanently ignored with respect to the order;
\43\ (4) the Maximum Remove Percentage of a Partial Post Only at Limit
Order \44\ would not be applied in an IPO Auction and would be
permanently ignored with respect to the order; and (5) the
replenishment range of a Reserve Order with a Random Replenishment
instruction \45\ would not be applied in an IPO Auction and would be
permanently ignored with respect to the order.\46\ Thus, with the
exception of MTP modifiers, all modifiers listed above would not be
further considered with respect to an order upon completion of the IPO
Auction, and any remainder not executed in the auction would be placed
on the BATS Book, executed, cancelled, or routed away in accordance
with the modified terms of the order.\47\
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    \37\ See proposed BATS Rule 11.23(a)(8)(C). See also Notice,
supra note 4, at 10347-48.
    \38\ See BATS Rule 11.9(f).
    \39\ Pursuant to BATS Rule 11.9(f), any incoming order
designated with an MTP modifier is normally prevented from executing
against a resting opposite side order also designated with an MTP
modifier and originating from the same User. Under the proposal, the
MTP Modifier would be ignored during an IPO Auction, and such
opposite side orders originating from the same User would be
eligible to be matched against each other. Upon completion of the
IPO Auction, an MTP modifier would be recognized again, and any
remainder not executed in the auction would be placed on the BATS
Book and executed or cancelled in accordance with the original MTP
modifier appended to the order. See Notice, supra note 4, at 10347.
    \40\ See BATS Rule 11.9(c)(14).
    \41\ See Notice, supra note 4, at 10347.
    \42\ See BATS Rule 11.9(d).
    \43\ See Notice, supra note 4, at 10347.
    \44\ See BATS Rule 11.9(c)(7).
    \45\ See Notice, supra note 4, at 10348, n.38 (citing BATS Rule
11.9(c)(1)(A)).
    \46\ See Notice, supra note 4, at 10347-48.
    \47\ See Notice, supra note 4, at 10348.
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B. Changes to the Quote-Only Period

    The Quote-Only Period is the designated period of time prior to a
Halt Auction, a Volatility Closing Auction, or an IPO Auction during
which Users may submit orders to the Exchange for participation in the
auction.\48\ Currently, the Quote-Only Period for an IPO Auction begins
fifteen (15) minutes plus a short random period prior to such IPO
Auction.\49\
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    \48\ See BATS Rule 11.23(a)(17). See also Notice, supra note 4,
at 10348.
    \49\ See BATS Rule 11.23(d)(1)(A).
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    The Exchange proposes to extend the Quote-Only Period with respect
to an IPO Auction for an ETP such that it would commence at 8:00
a.m.,\50\ which is the beginning of the Exchange's Pre-Opening
Session.\51\ The Exchange also proposes to extend the Quote-Only Period
with respect to an IPO Auction for a BATS listed corporate security to
begin at a time announced in advance by the Exchange that would be
between fifteen (15) and thirty (30) minutes plus a short random period
prior to such IPO Auction.\52\ The Exchange would determine the length
of time of the Quote-Only Period for a BATS listed corporate security
(i.e., what time between fifteen (15) and thirty (30) minutes) in
consultation with the issuer of the IPO Security and would announce the
length of time for the Quote-Only Period in advance of the commencement
of such period.\53\ The Exchange also proposes to make a technical
amendment to paragraph (d)(2)(A) of BATS Rule 11.23 to replace the
current term ``quotation only period'' with the defined term ``Quote
Only Period.''
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    \50\ See proposed BATS Rule 11.23(d)(1)(A).
    \51\ See BATS Rule 1.5(r).
    \52\ See proposed BATS Rule 11.23(d)(1)(A).
    \53\ See Notice, supra note 4, at 10348. According to the
Exchange, the scope of market participants notified regarding the
anticipated commencement of the Quote-Only Period (or extension of
Quote-Only Period) would include, but would not be limited to
Members of the Exchange. Such notice would also include those market
participants, individuals or entities that have subscribed to the
Exchange's notification system. The Exchange represents that it
intends to send notifications regarding the Quote-Only Period via
email, as it does with most public notifications today. The Exchange
further notes that it does, in certain circumstances, post
information on its public Web site in addition to email
dissemination. See id., n.41.
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    Finally, the Exchange proposes to extend the Quote-Only Period in
the event of a technical or systems issue at the Exchange that may
impair the ability of Users to participate in the IPO Auction or of the
Exchange to complete the IPO Auction.\54\ As proposed, the Exchange
would notify market participants in the event of any extension to the
Quote-Only Period, including due to a technical or systems issue during
an IPO Auction. Such notice would provide details regarding the
circumstances and length of the extension.\55\
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    \54\ See proposed BATS Rule 11.23(d)(2)(B)(iv). See also Notice,
supra note 4, at 10348. Currently, the Exchange may extend the
Quote-Only Period under Rule 11.23(d)(2)(B) for an Auction beyond
the stated timeframes where: (i) There are unmatched Market Orders
on the Auction Book associated with the auction; (ii) in an IPO
Auction, the underwriter requests an extension; or (iii) where the
Indicative Price moves the greater of 10% or fifty (50) cents in the
fifteen (15) seconds prior to the auction. See id.
    \55\ See proposed BATS Rule 11.23(d)(2)(C). See also Notice,
supra note 4, at 10348.
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III. Discussion

    After careful review of the proposal, the Commission finds that the
proposed rule change is consistent with the requirements of the Act and
the rules and regulations thereunder applicable to a national
securities exchange.\56\ In particular, the Commission finds that the
proposal is consistent with Section 6(b)(5) of the Act,\57\ which
requires, among other things, that the rules of a national securities
exchange be designed to prevent fraudulent and manipulative acts and
practices, to promote just and equitable principles of trade, to remove
impediments to and perfect the mechanism of a free and open market and
a national market system, and, in general, to protect investors and the
public interest.
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    \56\ In approving this proposal, the Commission has considered
the proposed rule's impact on efficiency, competition, and capital
formation. See 15 U.S.C. 78c(f).
    \57\ 15 U.S.C. 78f(b)(5).
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A. Changes to the Definition of Eligible Auction Order

    The Exchange believes that refining the types of orders processed
in an IPO Auction and/or those that would be placed onto the BATS Book
\58\ following such IPO Auction would simplify and reduce the
complexity of the IPO Auction for BATS listed corporate securities.\59\
The Exchange further

believes that doing so would aid in ensuring a robust, but streamlined,
IPO Auction process for a newly listed corporate securities.\60\
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    \58\ See BATS Rule 1.5(e) (defining BZX Book as the System's
electronic file of orders).
    \59\ See Notice, supra note 4, at 10345.
    \60\ See id.
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    Specifically, the Exchange believes it is reasonable to reject
orders with the characteristics described above from participating in
the IPO Auction because doing so would aid in reducing systems
complexity and risk associated both with completing the IPO Auction and
with transferring any unexecuted portion of such orders to the BATS
Book once the auction is complete.\61\ Further, the Exchange states
that the orders it proposes to reject are not commonly utilized and
therefore the rejection of such orders should not have a significant
impact on its Members.\62\ In addition, the Exchange believes these
types of orders contain certain attributes that are not compatible with
the IPO Auction process.\63\
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    \61\ See id. at 10346.
    \62\ See id. See also BATS Rule 1.5(n)(defining ``Member'' as
any registered broker or dealer that has been admitted to membership
in the Exchange).
    \63\ See Notice, supra note 4, at 10346.
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    In addition, in contrast to those orders that would be rejected,
the Exchange notes that the types of orders the Exchange proposes to
convert are more commonly used by Members than those order types the
Exchange proposes to reject.\64\ The Exchange believes that it is
reasonable to convert rather than reject the order types described
above because such orders are more commonly used by Members and doing
so would accommodate those Members that have automated their systems to
send orders to the Exchange without significantly altering the
operation of the order from what the Member originally instructed.\65\
According to the Exchange, such Members also may not be able to re-
submit a rejected order with the correct modifier in time to
participate in the IPO Auction.\66\ Therefore, the Exchange notes that
it is concerned that rejecting, rather than converting those types of
orders as proposed, would inappropriately burden those Members and
deter their participation in an IPO Auction.\67\
---------------------------------------------------------------------------

    \64\ See id. at 10346-47.
    \65\ See id. at 10347.
    \66\ See id.
    \67\ See id.
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    The Exchange further believes it is reasonable to ignore certain
modifiers on an order during the IPO Auction because doing so would
simplify and reduce the complexity of the auction process or such
modifiers are incompatible with the IPO Auction process.\68\ For
instance, the Exchange believes that it is reasonable to ignore
instructions to treat an order as an Attributable Order because orders
entered into an IPO Auction are not displayed individually, but rather,
are displayed as aggregated interest in the Exchange's data feeds.\69\
---------------------------------------------------------------------------

    \68\ See id. at 10347-49.
    \69\ See id. at 10347.
---------------------------------------------------------------------------

    For the reasons stated above, the Commission believes that amending
the definition of Eligible Auction Orders to reject, convert, or ignore
certain types of orders in connection with the IPO Auction process for
a BATS listed corporate security is consistent with Section 6(b)(5) of
the Act. The Commission believes that it is reasonable for the Exchange
to seek to simplify and reduce the complexity of the IPO Auction
process and to clearly describe the treatment of those orders and
modifiers submitted during an IPO Auction that would be rejected,
converted, or ignored.\70\
---------------------------------------------------------------------------

    \70\ The Commission also believes that the Exchange's proposal
to amend BATS Rule 11.1(a) to make clear that it will not accept
BATS Market Orders that are not Eligible Auction Orders prior to
8:00 a.m. Eastern Time and to make conforming changes to BATS Rules
11.23(b) and 11.23(c) is consistent with Act. The Commission
believes that these proposed changes would help reduce confusion
among Members regarding the operation of BATS Market Orders that are
entered prior to the start of the Exchange's Pre-Opening Session and
the operation of the Exchange's rules.
---------------------------------------------------------------------------

B. Changes to the Quote-Only Period

    The Exchange states that it believes that a longer Quote-Only
Period for ETPs is warranted because it will encourage the entry of
orders prior to an IPO Auction for newly issued ETPs, which typically
have lower participation rates especially as compared to IPO Auctions
for corporate securities.\71\ The Exchange further states that while an
IPO Auction for a corporate security is typically conducted at least
thirty minutes after the commencement of Regular Trading Hours, an IPO
Auction for a newly issued ETP is typically conducted at the beginning
of Regular Trading Hours (i.e., 9:30 Eastern Time), and thus may not
afford much time for participants to enter orders prior to such
auction.\72\
---------------------------------------------------------------------------

    \71\ See Notice, supra note 4, at 10348.
    \72\ See id.
---------------------------------------------------------------------------

    In addition, the Exchange believes it is reasonable to extend the
Quote-Only Period for a BATS listed corporate security to begin at a
time announced in advance by the Exchange that shall be between fifteen
and thirty minutes plus a short random period prior to such IPO Auction
because it will allow market participants more time to enter orders to
participate in the IPO Auction.\73\ Further, according to the Exchange,
such an extension would afford underwriters more time to evaluate the
scope of demand for, and supply of, the security subject to the IPO
Auction (``IPO Security''), which in turn, would allow the underwriter
to make a more informed decision about the appropriate time to initiate
the opening of the IPO Security through the IPO Auction.\74\
---------------------------------------------------------------------------

    \73\ See id. at 10348-49.
    \74\ See id.
---------------------------------------------------------------------------

    The Exchange also believes it is reasonable to extend the Quote-
Only Period in the event of a technical or systems issue at the
Exchange that may impair the ability of market participants to
participate in an IPO Auction as such an event may prevent market
participants from entering orders during the Quote-Only Period, which
in turn could result in less liquidity that may prevent the
underwriters from adequately accessing the trading interest of the IPO
Security.\75\ Thus, the Exchange believes it is reasonable to extend
the Quote-Only Period in the event of a technical or systems issue to
provide market participants adequate time to enter orders to
participate in the IPO auction.\76\ Finally, the Exchange states that
its proposal to make a technical amendment to paragraph (d)(2)(A) of
BATS Rule 11.23 to replace the current term ``quotation only period''
with the defined term ``Quote Only Period'' is intended to make the
rule easier to understand and avoid potential investor confusion.\77\
---------------------------------------------------------------------------

    \75\ See id. at 10348-49.
    \76\ See id.
    \77\ See id. at 10349.
---------------------------------------------------------------------------

    For the foregoing reasons, the Commission believes that the
proposed changes to the Quote-Only Period are consistent with the Act
because these changes are designed to allow market participants
additional time in advance of an IPO Auction, and the proposed
technical amendment to BATS Rule 11.23(d)(2)(A) conforms the
terminology used in that section of BATS Rule 11.23(d) with the current
terminology used in the BATS rule book.

IV. Conclusion

    For the foregoing reasons, the Commission finds that the proposed
rule change, as modified by Amendment No.1, is consistent with the Act
and the rules and regulations thereunder applicable to a national
securities exchange.
    IT IS THEREFORE ORDERED, pursuant to Section 19(b)(2) of the Act
\78\ that the proposed rule change (SR-BATS-2016-17) is approved.
---------------------------------------------------------------------------

    \78\ 15 U.S.C. 78s(b)(2).
    \79\ 17 CFR 200.30-3(a)(12).

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

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\79\
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-07683 Filed 4-4-16; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 84, Number 230 (Friday, November 29, 2019)]
[Rules and Regulations]
[Pages 65686-65689]
[FR Doc No: 2019-25355]

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

ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 282

[EPA-R08-UST-2018-0728; FRL-10000-51-Region 8]

North Dakota: Codification and Incorporation by Reference of
Approved State Underground Storage Tank Program

AGENCY: Environmental Protection Agency (EPA).

ACTION: Final rule.

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

SUMMARY: This rule codifies in the regulations the prior approval of
North Dakota's underground storage tank program and incorporates by
reference approved provisions of the State's regulations. The
Environmental Protection Agency (EPA) uses the regulations entitled,
``Approved Underground Storage Tank Programs,'' to provide notification
of the approval status of State programs and to incorporate by
reference into the Code of Federal Regulations (CFR) those provisions
of the State's regulations that are approved and that the EPA will
enforce under the Resource Conservation and Recovery Act (RCRA). The
EPA previously provided notification and opportunity for comments on
the Agency's decisions to approve the North Dakota underground storage
tank program, and the EPA is not reopening the decisions, nor
requesting comments, on the approval of the North Dakota program, as
published in the Federal Register documents specified in Section I.C of
this document.

DATES: This rule is effective December 30, 2019. The Director of the
Federal Register approves this incorporation by reference as of
December 30, 2019, in accordance with 5 U.S.C. 552(a) and 1 CFR part
51.

ADDRESSES: The documents that form the basis for this codification and
associated publicly available materials are available electronically
through https://www.regulations.gov (Docket ID No. EPA-R08-RCRA-2018-
0728). You can also view and copy the documents from 8:30 a.m. to 4:00
p.m. Monday through Friday at the following location: EPA Region 8,
1595 Wynkoop Street, Denver, Colorado 80202-1129, phone number (303)
312-6435. Interested persons wanting to examine these documents should
make an appointment with the office at least two days in advance.

FOR FURTHER INFORMATION CONTACT: Benjamin Bents, Region 8, Project
Officer, RCRA Branch, Land Chemical and Revitalization Division (8LCR-
RC), EPA Region 8, 1595 Wynkoop Street, Denver, Colorado 80202-1129,
303-312-6435, email address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. Codification

A. What is codification?

    Codification is the process of placing a State's statutes and
regulations that comprise the State's approved UST program into the
CFR. Section 9004(b) of RCRA, as amended, allows the EPA to approve
State UST programs to operate in lieu of the Federal program. The EPA
codifies its authorization of State programs in 40 CFR part 282 and
incorporates by reference State regulations that the EPA will enforce
under sections 9005 and 9006 of RCRA and any other applicable statutory
provisions. The incorporation by reference of State authorized programs
in the CFR should substantially enhance the public's ability to discern
the current status of the approved State program and State requirements
that can be federally enforced. This effort provides clear notification
to the public of the scope of the approved program in each State.

B. Why wasn't there a proposed rule before today's rule?

    The EPA is publishing this rule to codify North Dakota's approved
UST program without a prior proposal because we believe this action is
not controversial. The reason being that, in accordance with section
9004(b) of RCRA, EPA has already evaluated the State's regulatory and
statutory requirements and has determined that the State's program
meets the statutory and regulatory requirements established by RCRA.
The EPA previously provided notifications and opportunity for comments
on the Agency's decisions to approve the North Dakota program. The EPA
is not reopening the decisions, nor requesting new comments, on the
North Dakota approvals as previously published in the Federal Register
documents specified in Section I.C of this final rule document. The
previous approvals form the basis for the codification addressed in
this final rule.

C. What is the history of the approval and codification of North
Dakota's UST program?

    On December 10, 1991 (56 FR 51333, October 11, 1991) the EPA
finalized a rule approving the UST program that North Dakota proposed
to administer in lieu of the Federal UST program. The EPA incorporated
by reference and codified North Dakota's then approved UST program in
40 CFR 282.84, effective August 21, 1995 (60 FR 32469; June 22, 1995).
Due to unforeseen delays resulting from the lapse in appropriations,
the EPA's final approvals concerning revisions to North Dakota's
program originally proposed December 19, 2018, with an effective date
of March 15, 2019 (83 FR 65104, December 19, 2018), were delayed. Thus,
the EPA granted approval for changes to the North Dakota program
effective April 30, 2019 (84 FR 8260, March 7, 2019). Through this
action, the EPA is incorporating by reference and codifying North
Dakota's State program in 40 CFR 282.84 to include the approved
revisions.

D. What codification decisions have we made in this rule?

    In this rule, we are finalizing the Federal regulatory text that
incorporates by reference the federally authorized North Dakota UST
Program. In accordance with the requirements of 1 CFR 51.5, we are
finalizing the incorporation by reference of the North Dakota rules
described in the amendments to 40 CFR part 282 set forth below. The EPA
has made, and will continue to make, these documents generally
available through www.regulations.gov and/or in hard copy at the EPA
Region 8 office (see the ADDRESSES section of this preamble for more
information).
    The purpose of this Federal Register document is to codify North
Dakota's approved UST Program. The codification reflects the State
program that was in effect at the time the EPA approved revisions to
the North Dakota UST program addressed in the final rule published on
December 19, 2018 (83 FR 65104, effective March 15, 2019). By codifying
the approved North Dakota program and by amending the Code of Federal
Regulations (CFR), the public will more easily be able to discern the
status of the federally approved requirements of the North Dakota
program.
    The EPA is incorporating by reference the North Dakota approved UST
program in 40 CFR 282.84. 40 CFR 282.84(d)(1)(i)(A) incorporates by
reference for enforcement purposes the

State's regulations. 40 CFR 282.84 also references the Attorney
General's Statement, Demonstration of Adequate Enforcement Procedures,
Enforcement Agreement, the Program Description and the Memorandum of
Agreement, which are approved as part of the UST program under subtitle
I of RCRA.

E. What is the effect of EPA's codification of the federally authorized
State UST Program on enforcement?

    The EPA retains the authority under sections 9003(h), 9005 and 9006
of subtitle I of RCRA, 42 U.S.C. 6991b(h), 6991d and 6991e, and other
applicable statutory and regulatory provisions to undertake corrective
action, inspections, and enforcement actions, and to issue orders in
approved States. If the EPA determines it will take such actions in
North Dakota, the EPA will rely on Federal sanctions, Federal
inspection authorities, and other Federal procedures rather than the
State analogs. Therefore, though the EPA has approved the State
procedures listed in 40 CFR 282.84(d)(1)(ii), the EPA is not
incorporating by reference North Dakota's procedural and enforcement
authorities.

F. What State provisions are not part of the codification?

    Title 40 CFR 281.12(a)(3)(ii) states that where an approved State
program has provisions that are broader in coverage than the Federal
program, those provisions are not a part of the federally approved
program. North Dakota's approved UST program does not include
provisions which are ``broader in coverage'' than the Federal program.

II. Statutory and Executive Order (E.O.) Reviews

    This action only applies to North Dakota's UST Program requirements
pursuant to RCRA Section 9004 and imposes no requirements other than
those imposed by State law. It complies with applicable E.O.s and
statutory provisions as follows:

A. Executive Order 12866: Regulatory Planning and Review, Executive
Order 13563: Improving Regulation and Regulatory Review

    The Office of Management and Budget (OMB) has exempted this action
from the requirements of Executive Order 12866 (58 FR 51735, October 4,
1993) and 13563 (76 FR 3821, January 21, 2011). This action codifies
State requirements for the purpose of RCRA section 9004 and imposes no
additional requirements beyond those imposed by State law. Therefore,
this action is not subject to review by OMB.

B. Executive Order 13771: Reducing Regulations and Controlling
Regulatory Costs

    This action is not an Executive Order 13771 (82 FR 9339, February
3, 2017) regulatory action because actions such as this incorporation
by reference of North Dakota's revised underground storage tank program
under RCRA are exempted under Executive Order 12866. Accordingly, I
certify that this action will not have a significant economic impact on
a substantial number of small entities under the Regulatory Flexibility
Act (5 U.S.C. 601 et seq.).

C. Unfunded Mandates Reform Act and Executive Order 13175: Consultation
and Coordination With Indian Tribal Governments

    Because this action codifies pre-existing requirements under State
law and does not impose any additional enforceable duty beyond that
required by State law, it does not contain any unfunded mandate or
significantly or uniquely affect small governments, as described in the
Unfunded Mandates Reform Act of 1995 (2 U.S.C. 1531-1538). For the same
reason, this action also does not significantly or uniquely affect the
communities of tribal governments, as specified by Executive Order
13175 (65 FR 67249, November 9, 2000).

D. Executive Order 13132: Federalism

    This action will not have substantial direct effects on the States,
on the relationship between the national government and the States, or
on the distribution of power and responsibilities among the various
levels of government, as specified in Executive Order 13132 (64 FR
43255, August 10, 1999), because it merely codifies State requirements
as part of the State RCRA Underground Storage Tank Program without
altering the relationship or the distribution of power and
responsibilities established by RCRA.

E. Executive Order 13045: Protection of Children From Environmental
Health and Safety Risks

    This action also is not subject to Executive Order 13045 (62 FR
19885, April 23, 1997), because it is not economically significant and
it does not make decisions based on environmental health or safety
risks.

F. Executive Order 13211: Actions Concerning Regulations That
Significantly Affect Energy Supply, Distribution, or Use

    This rule is not subject to Executive Order 13211 (66 FR 28355, May
22, 2001) because it is not a ``significant regulatory action'' as
defined under Executive Order 12866.

G. National Technology Transfer and Advancement Act

    The requirements being codified are the result of North Dakota's
voluntary participation in the EPA's State program approval process
under RCRA subtitle I. Thus, the requirements of section 12(d) of the
National Technology Transfer and Advancement Act of 1995 (15 U.S.C. 272
note) do not apply.

H. Executive Order 12988: Civil Justice Reform

    As required by section 3 of Executive Order 12988 (61 FR 4729,
February 7, 1996), in issuing this rule, the EPA has taken the
necessary steps to eliminate drafting errors and ambiguity, minimize
potential litigation, and provide a clear legal standard for affected
conduct.

I. Executive Order 12630: Governmental Actions and Interference With
Constitutionally Protected Property Rights

    The EPA has complied with Executive Order 12630 (53 FR 8859, March
15, 1988) by examining the takings implications of the rule in
accordance with the ``Attorney General's Supplemental Guidelines for
the Evaluation of Risk and Avoidance of Unanticipated Takings'' issued
under the executive order.

J. Paperwork Reduction Act

    This rule does not impose an information collection burden under
the provisions of the Paperwork Reduction Act of 1995 (44 U.S.C. 3501
et seq.). ``Burden'' is defined at 5 CFR 1320.3(b).

K. Executive Order 12898: Federal Actions To Address Environmental
Justice in Minority Populations and Low Income Populations

    Executive Order 12898 (59 FR 7629, February 16, 1994) establishes
Federal executive policy on environmental justice. Its main provision
directs Federal agencies, to the greatest extent practicable and
permitted by law, to make environmental justice part of their mission
by identifying and addressing, as appropriate, disproportionately high
and adverse human health or environmental effects of their programs,
policies, and activities on minority populations and low-income

populations in the United States. Because this rule codifies pre-
existing State rules, which are at least equivalent to, consistent
with, and no less stringent than existing Federal requirements, and
imposes no additional requirements beyond those imposed by State law,
and there are no anticipated significant adverse human health or
environmental effects, the rule is not subject to Executive Order
12898.

L. Congressional Review Act

    The EPA will submit a report containing this document and other
required information to the U.S. Senate, the U.S. House of
Representatives, and the Comptroller General of the United States prior
to publication in the Federal Register. A major rule cannot take effect
until 60 days after it is published in the Federal Register. This
action is not a ``major rule'' as defined by 5 U.S.C. 804(2). This
action will be effective November 29, 2019.

    Authority:  This rule is issued under the authority of Sections
2002(a), 7004(b), and 9004, 9005 and 9006 of the Solid Waste
Disposal Act, as amended, 42 U.S.C. 6912(a), 6974(b), and 6991c,
6991d, and 6991e.

List of Subjects in 40 CFR Part 282

    Environmental protection, Administrative practice and procedure,
Hazardous substances, Incorporation by reference, State program
approval, and Underground storage tanks.

    Dated: November 15, 2019.
Gregory Sopkin,
Regional Administrator, EPA Region 8.

    For the reasons set forth in the preamble, EPA is amending 40 CFR
part 282 as follows:

PART 282--APPROVED UNDERGROUND STORAGE TANK PROGRAMS

0
1. The authority citation for part 282 continues to read as follows:

    Authority: 42 U.S.C. 6912, 6991c, 6991d, and 6991e.

0
2. Revise Sec.  282.84 to read as follows:

Sec.  282.84  North Dakota State-Administered Program.

    (a) History of the approval of North Dakota's Program. The State of
North Dakota is approved to administer and enforce an underground
storage tank program in lieu of the Federal program under subtitle I of
the Resource Conservation and Recovery Act of 1976 (RCRA), as amended,
42 U.S.C. 6991 et seq. The State's program, as administered by the
North Dakota Department of Environmental Quality (DEQ) was approved by
EPA pursuant to 42 U.S.C. 6991c and part 281 of this chapter. The EPA
published the notice of final determination approving the North Dakota
underground storage tank base program effective on December 10, 1991. A
subsequent program revision application was approved by EPA and became
effective on March 15, 2019.
    (b) Enforcement authority. North Dakota has primary responsibility
for administering and enforcing its federally approved underground
storage tank program. However, EPA retains the authority to exercise
its corrective action, inspection, and enforcement authorities under
sections 9003(h), 9005, and 9006 of subtitle I of RCRA, 42 U.S.C.
6991b(h), 6991d and 6991e, as well as under any other applicable
statutory and regulatory provisions.
    (c) Approval. To retain program approval, North Dakota must revise
its approved program to adopt new changes to the Federal subtitle I
program which make it more stringent, in accordance with section 9004
of RCRA, 42 U.S.C. 6991c, and 40 CFR part 281, subpart E. If North
Dakota obtains approval for the revised requirements pursuant to
section 9004 of RCRA, 42 U.S.C. 6991c, the newly approved statutory and
regulatory provisions will be added to this subpart and notice of any
change will be published in the Federal Register.
    (d) Program authorization. North Dakota has final approval for the
following elements of its program application originally submitted to
EPA and approved effective December 10, 1991, and the program revision
application approved by EPA effective on March 15, 2019:
    (1) State statutes and regulations--(i) Incorporation by reference.
The North Dakota provisions cited in this paragraph and listed in
Appendix A to this part, are incorporated by reference as part of the
underground storage tank program under subtitle I of RCRA, 42 U.S.C.
6991 et seq. The Director of the Federal Register approves this
incorporation by reference in accordance with 5 U.S.C. 552(a) and 1 CFR
part 51. You may obtain copies of the North Dakota regulations that are
incorporated by reference in this paragraph from North Dakota
Legislative Council, Second Floor, State Capitol, 600 E Boulevard
Avenue, Bismarck, North Dakota 58504, phone<PHONE_NUMBER>, website:
https://www.legis.nd.gov/agency-rules/north-dakota-administrative-code.
You may inspect a copy at EPA Region 8, 1595 Wynkoop Street, Denver,
Colorado 80202 (Phone number<PHONE_NUMBER> or the National Archives and
Records Administration (NARA). For information on the availability of
the material at NARA, email<EMAIL_ADDRESS>or go to https://www.archives.gov/federal-register/cfr/ibr-locations.html.
    (A) ``EPA-Approved North Dakota Regulatory Requirements Applicable
to the Underground Storage Tank Program,'' dated April 2019.
    (B) [Reserved]
    (ii) Legal basis. EPA evaluated the following statutes and
regulations which provide the legal basis for the State's
implementation of the underground storage tank program, but they are
not being incorporated by reference and do not replace Federal
authorities:
    (A) The statutory provisions include: North Dakota Century Code
(2019), Title 1 ``General Provisions,'' Chapter 1-01, ``General
Principles and Definitions,'' Section 1-01-49(8) ``Person;'' Title 23.1
``Environmental Quality,'' Chapter 01 ``Department of Environmental
Quality,'' Sections 23.1-01-01 and 23.1-01-04; Chapter 04 ``Hazardous
Waste Management,'' Sections 23.1-04-01 introductory paragraph, .1, .5,
and .6; 23.1-04-02 introductory paragraph, .2, .9 through .11, and .16;
23.1-04-03; 23.1-04-06; and 23.1-04-12 through 23.1-04-15.
    (B) The regulatory provisions include: North Dakota Administrative
Code Chapter 33.1-24-08, Technical Standards and Corrective Action
Requirements for Owners and Operators of Underground Storage Tanks, as
amended effective January 1, 2019, Sections 33.1-24-08-36 Applicability
(Delivery Prohibition), 33.1-24-08-37 Criteria for Delivery
Prohibition, and 33.1-24-08-57 Public Participation.
    (2) Statement of legal authority. The Attorney General's Statement,
signed by the Attorney General of North Dakota on February 28, 1991,
and by the Assistant Attorney General on July 26, 2018, though not
incorporated by reference, is referenced as part of the approved
underground storage tank program under subtitle I of RCRA, 42 U.S.C.
6991 et seq.
    (3) Demonstration of procedures for adequate enforcement. The
``Demonstration of Procedures for Adequate Enforcement'' submitted as
part of the original application on April 4, 1991, though not
incorporated by reference, is referenced as part of the approved
underground storage tank program under subtitle I of RCRA, 42 U.S.C.
6991 et seq.
    (4) Enforcement Agreement. The ``North Dakota State and EPA Region
8 Enforcement Agreement'' submitted as part of the program revision
application on July 26, 2018, though not incorporated by reference, is
referenced

as part of the approved underground storage tank program under subtitle
I of RCRA, 42 U.S.C. 6991 et seq.
    (5) Program description. The program description and any other
material submitted as part of the original application April 4, 1991,
and as part of the program revision application on July 26, 2018,
though not incorporated by reference, are referenced as part of the
approved underground storage tank program under subtitle I of RCRA, 42
U.S.C. 6991 et seq.
    (6) Memorandum of Agreement. The Memorandum of Agreement between
North Dakota and the EPA Region 8, signed by the EPA Regional
Administrator on November 9, 2018, though not incorporated by
reference, is referenced as part of the approved underground storage
tank program under subtitle I of RCRA, 42 U.S.C. 6991 et seq.

0
3. Appendix A to part 282 is amended by revising the entry for ``North
Dakota'' to read as follows:

Appendix A to Part 282--State Requirements Incorporated by Reference in
Part 282 of the Code of Federal Regulations

* * * * *

North Dakota

    (a) The regulatory provisions include: North Dakota
Administrative Code (NDAC), Chapter 33.1-24-08, Technical Standards
and Corrective Action Requirements for Owners and Operators of
Underground Storage Tanks, as amended effective January 1, 2019:

Section 33.1-24-08-01 Applicability (technical standards and
corrective action).
Section 33.1-24-08-02 Installation requirements for partially
excluded underground storage tank systems.
Section 33.1-24-08-03 Definitions (technical standards, delivery
prohibition, and corrective action).
Section 33.1-24-08-10 Performance standards for new underground
storage tank systems.
Section 33.1-24-08-11 Upgrading of existing underground storage tank
systems.
Section 33.1-24-08-12 Notification requirements.
Section 33.1-24-08-20 Spill and overfill control.
Section 33.1-24-08-21 Operation and maintenance of corrosion
protection.
Section 33.1-24-08-22 Compatibility.
Section 33.1-24-08-23 Repairs allowed.
Section 33.1-24-08-24 Reporting and recordkeeping.
Section 33.1-24-08-25 Periodic testing of spill prevention equipment
and containment sumps used for interstitial monitoring of piping and
periodic inspection of overfill prevention equipment.
Section 33.1-24-08-26 Periodic operation and maintenance walkthrough
inspections.
Section 33.1-24-08-30 General release detection requirements for all
underground storage tank systems.
Section 33.1-24-08-31 Release detection requirements for petroleum
underground storage tank systems.
Section 33.1-24-08-32 Release detection requirements for hazardous
substance underground storage tank systems.
Section 33.1-24-08-33 Methods of release detection for tanks.
Section 33.1-24-08-34 Methods of release detection for piping.
Section 33.1-24-08-35 Release detection recordkeeping.
Section 33.1-24-08-38 Mechanisms for designating tanks ineligible
for delivery.
Section 33.1-24-08-39 Reclassifying ineligible tanks as eligible for
delivery.
Section 33.1-24-08-40 Reporting of suspected releases.
Section 33.1-24-08-41 Investigation due to offsite impacts.
Section 33.1-24-08-42 Release investigation and confirmation steps.
Section 33.1-24-08-43 Reporting and cleanup of spills and overfills.
Section 33.1-24-08-44 Unattended cardtrol facilities.
Section 33.1-24-08-45 Operator designations and requirements for
operator training.
Section 33.1-24-08-46 Timing of operator training and reciprocity.
Section 33.1-24-08-47 Operator retraining.
Section 33.1-24-08-48 Operator training documentation.
Section 33.1-24-08-50 General release response and corrective action
for underground storage tank systems containing petroleum or
hazardous substances.
Section 33.1-24-08-51 Initial response.
Section 33.1-24-08-52 Initial abatement measures and site check.
Section 33.1-24-08-53 Initial site characterization.
Section 33.1-24-08-54 Free product removal.
Section 33.1-24-08-55 Investigations for soil and groundwater
cleanup.
Section 33.1-24-08-56 Corrective action plan.
Section 33.1-24-08-60 Temporary closure.
Section 33.1-24-08-61 Permanent closure and changes in service.
Section 33.1-24-08-62 Assessing the site at closure or change in
service.
Section 33.1-24-08-63 Applicability to previously closed underground
storage tank systems.
Section 33.1-24-08-64 Closure records.
Section 33.1-24-08-70 UST systems with field-constructed tanks and
airport hydrant fuel distribution systems definitions.
Section 33.1-24-08-71 General requirements.
Section 33.1-24-08-72 Additions, exceptions, and alternatives for
UST systems with field-constructed tanks and airport hydrant
systems.
Section 33.1-24-08-80 Applicability (financial responsibility).
Section 33.1-24-08-81 Financial responsibility compliance dates.
Section 33.1-24-08-82 Definitions (financial responsibility).
Section 33.1-24-08-83 Amount and scope of required financial
responsibility.
Section 33.1-24-08-84 Allowable mechanisms and combinations of
mechanisms.
Section 33.1-24-08-85 Financial test of self-insurance.
Section 33.1-24-08-86 Guarantee.
Section 33.1-24-08-87 Insurance and risk retention group coverage.
Section 33.1-24-08-88 Surety bond.
Section 33.1-24-08-89 Letter of credit.
Section 33.1-24-08-92 Trust fund.
Section 33.1-24-08-93 Standby trust fund.
Section 33.1-24-08-94 Local government bond rating test.
Section 33.1-24-08-95 Local government financial test.
Section 33.1-24-08-96 Local government guarantee.
Section 33.1-24-08-97 Local government fund.
Section 33.1-24-08-98 Substitution of financial assurance mechanisms
by owner or operator.
Section 33.1-24-08-99 Cancellation or nonrenewal by a provider of
financial assurance.
Section 33.1-24-08-100 Reporting by owner or operator.
Section 33.1-24-08-101 Recordkeeping.
Section 33.1-24-08-102 Drawing on financial assurance mechanisms.
Section 33.1-24-08-103 Release from requirements.
Section 33.1-24-08-104 Bankruptcy or other incapacity of owner or
operator or provider of financial assurance.
Section 33.1-24-08-105 Replenishment of guarantees, letters of
credit, or surety bonds.
Section 33.1-24-08-115 Definitions (lender liability).
Section 33.1-24-08-120 Participation in management (lender
liability).
Section 33.1-24-08-125 Ownership of an underground storage tank or
underground storage tank system or facility or property on which an
underground storage tank or underground storage tank system ss
located (lender liability).
Section 33.1-24-08-130 Operating an underground storage tank or
underground storage tank system (lender liability).
Appendix I.
Appendix II Statement of Shipping Tickets and Invoices.

    (b) Copies of the North Dakota regulations that are incorporated
by reference are available from North Dakota Legislative Council,
Second Floor, State Capitol, 600 E Boulevard Avenue, Bismarck, North
Dakota 58504; phone,<PHONE_NUMBER>; website, https://www.legis.nd.gov/agency-rules/north-dakota-administrative-code.
* * * * *
[FR Doc. 2019-25355 Filed 11-27-19; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register: April 3, 2008 (Volume 73, Number 65)]
[Proposed Rules]
[Page 18222]
[DOCID:fr03ap08-21]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Docket FAA No. FAA-2008-0180; Airspace Docket No. 08-AAL-6]

Proposed Revocation of Area Navigation Jet Routes J-888R and J-
996R; Alaska

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice of proposed rulemaking (NPRM); correction.

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

SUMMARY: This action corrects a notice of proposed rulemaking (NPRM)
published in the Federal Register March 12, 2008 (73 FR 13159),
Airspace Docket No. 08-AAL-6, FAA Docket No. FAA-2008-0111. In that
rule, the FAA docket number is incorrect. The correct FAA docket number
should state FAA-2008-0180, instead of FAA-2008-0111. In addition, a
typographical error to one Jet Route was made in the title. The title
of the NPRM should reference Jet Route J-888R, instead of J-889R. This
action corrects those errors.

DATES: Effective Date: 0901 UTC, April 3, 2008.

FOR FURTHER INFORMATION CONTACT: Ken McElroy, Airspace and Rules Group,
Office of System Operations Airspace and AIM, Federal Aviation
Administration, 800 Independence Avenue, SW., Washington, DC 20591;
telephone:<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

History

    On March 12, 2008, an NPRM was published in the Federal Register
for Airspace Docket No. 08-AAL-6, FAA Docket No. FAA-2008-0111 (73 FR
13159), revoking Area Navigation Jet Routes J-889R and J-996R in
Alaska. Subsequent to publication, it was found that the FAA docket
number was incorrect; the correct number is FAA-2008-0180. In addition,
the reference to one Area Navigation Jet Route was incorrectly stated
in the title of the NPRM. The correct Jet Route should have stated J-
888R, instead of J-889R. This action corrects those errors.

Correction to Final Rule

    Accordingly, pursuant to the authority delegated to me, the FAA
docket number and the title of the NPRM as published in the Federal
Register on March 12, 2008 (73 FR 13159), Airspace Docket No. 08-AAL-6,
FAA Docket No. FAA-2008-0111, and incorporated by reference in 14 CFR
71.1, is corrected as follows:

Sec.  71.1  [Amended]

    On page 13159, correct the FAA docket number and the title to read
as follows:
* * * * *

Docket No. FAA-2008-0180

Proposed Revocation of Area Navigation Jet Routes J-888R and J-996R;
Alaska

* * * * *

    Issued in Washington, DC, on March 27, 2008.
Stephen L. Rohring,
Acting Manager, Airspace and Rules Group.
 [FR Doc. E8-6935 Filed 4-2-08; 8:45 am]

BILLING CODE 4910-13-P