[Federal Register Volume 85, Number 183 (Monday, September 21, 2020)]
[Notices]
[Pages 59338-59342]
[FR Doc No: 2020-20699]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-89874; File No. SR-NYSEArca-2020-77]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
of Proposed Rule Change to Amend NYSE Arca Rule 8.601-E To Adopt
Generic Listing Standards for Active Proxy Portfolio Shares

September 15, 2020.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given
that, on August 31, 2020, NYSE Arca, Inc. (``NYSE Arca'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I and
II below, which Items have been prepared by the self-regulatory
organization. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------

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

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

    The Exchange proposes to amend NYSE Arca Rule 8.601-E to adopt
generic listing standards for Active Proxy Portfolio Shares. The
proposed change is available on the Exchange's website at www.nyse.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 self-regulatory organization
included statements concerning the purpose of, and basis for, the
proposed rule change and discussed any comments it received on the
proposed rule change. The text of those 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 NYSE Arca Rule 8.601-E to adopt
generic listing standards for Active Proxy Portfolio Shares. Under the
Exchange's current rules, a proposed rule change must be filed with the
Securities and Exchange Commission (``SEC'' or ``Commission'') for the
listing and trading of each new series of Active Proxy Portfolio
Shares. The Exchange believes that it is appropriate to codify certain
rules within Rule 8.601-E that would generally eliminate the need for
such proposed rule changes, which would create greater efficiency and
promote uniform standards in the listing process.
    The Commission has previously approved listing and trading on the
Exchange of series of Active Proxy Portfolio Shares under NYSE Arca
Rule 8.601-E.\4\ Currently, six series of Active Proxy Portfolio Shares
are listed and traded on the Exchange--the American Century Mid Cap
Growth Impact ETF and American Century Sustainable Equity ETF \5\; and
the T. Rowe Price Blue Chip Growth ETF; T. Rowe Price Dividend Growth
ETF; T. Rowe Price Growth Stock ETF; and T. Rowe Price Equity Income
ETF.\6\
---------------------------------------------------------------------------

    \4\ See Securities Exchange Act Release Nos. 89185 (June 29,
2020), 85 FR 40328 (July 6, 2020) (SR-NYSEArca-2019-95) (Notice of
Filing of Amendment No. 6 and Order Granting Accelerated Approval of
a Proposed Rule Change, as Modified by Amendment No. 6, to Adopt
NYSE Arca Rule 8.601-E to Permit the Listing and Trading of Active
Proxy Portfolio Shares and To List and Trade Shares of the Natixis
U.S. Equity Opportunities ETF Under Proposed NYSE Arca Rule 8.601-E)
(the ``Natixis Approval Order''); 89192 (June 30, 2020), 85 FR 40699
(July 7, 2020) (SR-NYSEArca-2019-96) (Notice of Filing of Amendment
No. 5 and Order Granting Accelerated Approval of a Proposed Rule
Change, as Modified by Amendment No. 5, to List and Trade Two Series
of Active Proxy Portfolio Shares Issued by the American Century ETF
Trust under NYSE Arca Rule 8.601-E) (``American Century Approval
Order''); 89191 (June 30, 2020), 85 FR 40358 (July 6, 2020) (SR-
NYSEArca-2019-92) (Notice of Filing of Amendment No. 3 and Order
Granting Accelerated Approval of a Proposed Rule Change, as Modified
by Amendment No. 3, to List and Trade Four Series of Active Proxy
Portfolio Shares Issued by T. Rowe Price Exchange-Traded Funds, Inc.
under NYSE Arca Rule 8.601-E) (``T. Rowe Price Approval Order'');
89438 (July 31, 2020) (SR-NYSEArca-2020-51)(Order Granting Approval
of a Proposed Rule Change, as Modified by Amendment No. 2, to List
and Trade Shares of Natixis Vaughan Nelson Select ETF and Natixis
Vaughan Nelson MidCap ETF under NYSE Arca Rule 8.601-E)
(collectively, the ``Approval Orders''). See also, Securities
Exchange Act Release No. 88887 (May 15, 2020), 85 FR 30990 (May 21,
2020) (SR-CboeBZX-2019-107) (Notice of Filing of Amendment No. 5 and
Order Granting Accelerated Approval of a Proposed Rule Change, as
Modified by Amendment No. 5, to Adopt Rule 14.11(m), Tracking Fund
Shares, and to List and Trade Shares of the Fidelity Blue Chip Value
ETF, Fidelity Blue Chip Growth ETF, and Fidelity New Millennium
ETF).
    \5\ See American Century Approval Order, referenced in note 4,
supra.
    \6\ See T. Rowe Price Approval Order, referenced in note 4,
supra
---------------------------------------------------------------------------

Background

    Rule 8.601-E sets forth certain rules related to the listing and
trading of Active Proxy Portfolio Shares.\7\ Under Rule 8.601-E(c)(1),
the term Active Proxy Portfolio Shares means a security that (a) is
issued by an investment company registered under the Investment Company
Act of 1940 (``1940 Act'') (``Investment Company'') organized as an
open-end management investment company that invests in a portfolio of
securities selected by the Investment Company's investment adviser
consistent with the Investment Company's investment objectives and
policies; (b) is issued in a specified minimum number of shares, or
multiples thereof, in return for a deposit by the purchaser of the
Proxy Portfolio and/or cash with a value equal to the next determined
net asset value (``NAV''); (c) when aggregated in the same specified
minimum number of Active Proxy Portfolio Shares, or multiples thereof,
may be redeemed at a holder's request in return for the Proxy Portfolio
and/or cash to the holder by the issuer with a value equal to the next
determined NAV; and (d) the portfolio holdings for which are disclosed
within at least 60 days following the end of every fiscal quarter.
---------------------------------------------------------------------------

    \7\ See the Natixis Approval Order, note 4, supra, in which the
Commission approved Exchange rules permitting the listing and
trading of Active Proxy Portfolio Shares, and the listing and
trading of shares of an individual series of Active Proxy Portfolio
Shares.
---------------------------------------------------------------------------

    Rule 8.601-E(c)(2) defines the term ``Actual Portfolio'' as
identities and quantities of the securities and other assets held by
the Investment Company that shall form the basis for the Investment
Company's calculation of NAV at the end of the business day.
    Rule 8.601-E(c)(3) defines the term ``Proxy Portfolio'' as a
specified portfolio of securities, other financial instruments and/or
cash designed to track closely the daily performance of the Actual
Portfolio of a series of Active Proxy Portfolio Shares as provided in
the exemptive relief pursuant to the 1940 Act applicable to such
series. The website for each series of Active Proxy Portfolio Shares
shall disclose the information regarding the Proxy Portfolio as
provided in the exemptive relief pursuant to the 1940 Act applicable to
such series, including the following, to the extent applicable:
    (i) Ticker symbol;
    (ii) CUSIP or other identifier;
    (iii) Description of holding;
    (iv) Quantity of each security or other asset held; and
    (v) Percentage weighting of the holding in the portfolio.

Key Features of Active Proxy Portfolio Shares
    While funds issuing Active Proxy Portfolio Shares are actively-
managed and, to that extent, are similar, for example, to Managed Fund
Shares, which are actively-managed funds listed and traded under NYSE
Arca Rule 8.600-E,\8\ Active Proxy Portfolio Shares differ from Managed
Fund Shares in the following important respects. First, in contrast to
Managed Fund Shares and for which a ``Disclosed Portfolio'' is required
to be disseminated at least once daily,\9\ the portfolio for an issue
of Active Proxy Portfolio Shares is publicly disclosed within at least
60 days following the end of every fiscal quarter in accordance with
normal disclosure requirements otherwise applicable to open-end
management investment companies registered under the 1940 Act.\10\ The
composition of the portfolio of an issue of Active Proxy Portfolio
Shares is not available at commencement of Exchange listing and
trading. Second, in connection with the creation and redemption of
Active Proxy Portfolio Shares, such creation or redemption may be
exchanged for a Proxy Portfolio with a value equal to the next-
determined NAV. A series of Active Proxy Portfolio Shares discloses the
Proxy Portfolio on a daily basis, which, as described above, is
designed to track closely the daily performance of the Actual Portfolio
of a series of Active Proxy Portfolio Shares, instead of the actual
holdings of the Investment Company, as provided by a series of Managed
Fund Shares.
---------------------------------------------------------------------------

    \8\ The Commission has previously approved listing and trading
on the Exchange of a number of issues of Managed Fund Shares under
NYSE Arca Rule 8.600-E. See, e.g., Securities Exchange Act Release
Nos. 87434 (October 31, 2019), 84 FR 59849 (November 6, 2019) (SR-
NYSEArca-2019-12) (Notice of Filing of Amendment No. 2 and Order
Granting Accelerated Approval of a Proposed Rule Change, as Modified
by Amendment No. 2, to List and Trade Shares of the iShares
Commodity Curve Carry Strategy ETF under NYSE Arca Rule 8.600-E);
88924 (May 21, 2020), 85 FR 32062 (May 28, 2020) (SR-NYSEArca-2020--
07) (Notice of Filing of Amendment No. 2 and Order Granting
Accelerated Approval of a Proposed Rule Change, as Modified by
Amendment No. 2, to List and Trade Shares of the SPDR SSGA
Responsible Reserves ESG ETF under NYSE Arca Rule 8.600-E). The
Commission also has approved a proposed rule change relating to
generic listing standards for Managed Fund Shares. See Securities
Exchange Act Release No. 78397 (July 22, 2016), 81 FR 49320 (July
27, 2016) (SR-NYSEArca-2015-110) (amending NYSE Arca Equities Rule
8.600 to adopt generic listing standards for Managed Fund Shares).
    \9\ NYSE Arca Rule 8.600-E(c)(2) defines the term ``Disclosed
Portfolio'' as the identities and quantities of the securities and
other assets held by the Investment Company that will form the basis
for the Investment Company's calculation of net asset value at the
end of the business day. NYSE Arca Rule 8.600-E(d)(2)(B)(i) requires
that the Disclosed Portfolio will be disseminated at least once
daily and will be made available to all market participants at the
same time.
    \10\ A mutual fund is required to file with the Commission its
complete portfolio schedules for the second and fourth fiscal
quarters on Form N-CSR under the 1940 Act. Information reported on
Form N-PORT for the third month of a fund's fiscal quarter will be
made publicly available 60 days after the end of a fund's fiscal
quarter. Form N-PORT requires reporting of a fund's complete
portfolio holdings on a position-by-position basis on a quarterly
basis within 60 days after fiscal quarter end. Investors can obtain
a series of Active Proxy Portfolio Shares' Statement of Additional
Information (``SAI''), its Shareholder Reports, its Form N-CSR,
filed twice a year, and its Form N-CEN, filed annually. A series of
Active Proxy Portfolio Shares' SAI and Shareholder Reports will be
available free upon request from the Investment Company, and those
documents and the Form N-PORT, Form N-CSR, and Form N-CEN may be
viewed on-screen or downloaded from the Commission's website at
www.sec.gov.
---------------------------------------------------------------------------

    In addition, Rule 8.601-E(d) currently provides criteria that
Active Proxy Portfolio Shares must satisfy for initial and continued
listing on the Exchange, including, for example, that a minimum number
of Active Proxy Portfolio Shares are required to be outstanding at the
time of commencement of trading on the Exchange. However, the current
process for listing and trading new series of Active Proxy Portfolio
Shares on the Exchange requires that the Exchange submit a proposed
rule change with the Commission. In this regard, Commentary .01 to Rule
8.601-E specifies that the Exchange will file separate proposals under
Section 19(b) of the Act before listing and trading of shares of a
series of Active Proxy Portfolio Shares.

Proposed Changes to Rule 8.601-E

    The Exchange proposes to amend Commentary .01 to Rule 8.601-E to
specify that the Exchange may approve Active Proxy Portfolio Shares for
listing and/or trading (including pursuant to unlisted trading
privileges) pursuant to SEC Rule 19b-4(e) under the Act, which pertains
to derivative securities products (``SEC Rule 19b-4(e)'').\11\ SEC Rule
19b-4(e)(1) provides that the listing and trading of a new derivative
securities product by a self-regulatory organization (``SRO'') is not
deemed a proposed rule change, pursuant to paragraph (c)(1) of Rule
19b-4,\12\ if the Commission has approved, pursuant to section 19(b) of
the Act, the SRO's trading rules, procedures and listing standards for
the product class that would include the new derivative securities
product and the SRO has a surveillance program for the product class.
This is the current method pursuant to which ``passive'' ETFs are
listed under NYSE Arca Rule 5.2-E(j)(3), actively-managed ETFs are
listed under NYSE Arca Rule 8.600-E, and Exchange-Traded Fund Shares
are listed under NYSE Arca Rule 5.2-E(j)(8).
---------------------------------------------------------------------------

    \11\ 17 CFR 240.19b-4(e). As provided under SEC Rule 19b-4(e),
the term ``new derivative securities product'' means any type of
option, warrant, hybrid securities product or any other security,
other than a single equity option or a security futures product,
whose value is based, in whole or in part, upon the performance of,
or interest in, an underlying instrument.
    \12\ 17 CFR 240.19b-4(c)(1). As provided under SEC Rule 19b-
4(c)(1), a stated policy, practice, or interpretation of the SRO
shall be deemed to be a proposed rule change unless it is reasonably
and fairly implied by an existing rule of the SRO.
---------------------------------------------------------------------------

    The Exchange would also specify within Commentary .01 to Rule
8.601-E that components of a series of Active Proxy Portfolio Shares
listed pursuant to Rule 19b-4(e) shall satisfy the criteria set forth
in Rule 8.601-E upon initial listing and on a continual basis. The
Exchange will file separate proposals under Section 19(b) of the Act
before the listing and trading of a series of Active Proxy Portfolio
Shares with components that do not satisfy the criteria set forth in
proposed amended Commentary .01 or components other than those
specified in amended Commentary .01. For example, if the components of
a series of Active Proxy Portfolio Shares included a security or asset
that is not specified in proposed amended Commentary .01, the Exchange
would file a separate proposed rule change.
    Proposed Commentary .01 (a) provides that the Actual Portfolio and
Proxy Portfolio for a series of Active Proxy Portfolio Shares shall
include only the following:
    (1) U.S. exchange-traded securities that are common stocks;
preferred stocks; American Depositary Receipts; and real estate
investment trusts;
    (2) Foreign common stocks that (1) are listed on a foreign exchange
that is a member of the Intermarket Surveillance Group or with which
the Exchange has in place a comprehensive surveillance sharing
agreement; and (2) trade on such foreign exchange contemporaneously
with shares of a series of Active Proxy Portfolio Shares in the
Exchange's Core Trading Session;
    (3) U.S. exchange-traded funds that are listed under the following
rules: Investment Company Units (Rule 5.2-E(j)(3)); Exchange-Traded
Fund Shares (Rule 5.2-E(j)(8)); Portfolio Depositary Receipts (Rule
8.100-E); Managed Fund Shares (Rule 8.600-E); Active Proxy Portfolio
Shares (Rule 8.601-E); and Managed Portfolio Shares (Rule 8.900-E);
    (4) Equity Gold Shares (Rule 5.2-E(j)(5))
    (5) Index-Linked Securities (Rule 5.2-E(j)(6));
    (6) Commodity-Based Trust Shares (Rule 8.201-E);

    (7) Currency Trust Shares (Rule 8.202-E);
    (8) The following securities, which are required to be organized as
commodity pools: Commodity Index Trust Shares (Rule 8.203-E); Commodity
Futures Trust Shares (Rule 8.204-E); Trust Units (Rule 8.500-E); and
Managed Trust Securities (Rule 8.700-E);
    (9) The following securities if organized as commodity pools: Trust
Issued Receipts (Rule 8.200-E) and Partnership Units (Rule 8.300-E);
    (10) U.S. exchange-traded futures that trade contemporaneously with
shares of a series of Active Proxy Portfolio Shares in the Exchange's
Core Trading Session; and
    (11) Cash and cash equivalents. Cash equivalents are the following:
Short-term U.S. Treasury securities, government money market funds, and
repurchase agreements.
    Proposed Commentary .01(b) provides that a series of Active Proxy
Portfolio Shares will not hold short positions in securities and other
financial instruments referenced in proposed Commentary .01(a)(1)-(11).
    Proposed Commentary .01(c) provides that the securities referenced
above in proposed Commentary .01(a)(3)-(9) shall include securities
listed on another national securities exchange pursuant to
substantially equivalent listing rules.
    The securities and financial instruments enumerated in proposed
Commentary .01 (a) to Rule 8.601-E are consistent with, and limited to,
the ``permissible investments'' for series of Active Proxy Portfolio
Shares previously approved by the Commission for Exchange listing and
trading, as described in the Approval Orders.\13\ Each such series has
filed an application for an order under Section 6(c) of the 1940 Act
for exemptions from various provisions of the 1940 Act and rules
thereunder, and the Commission has issued orders under the 1940 Act
granting the exemptions requested in such applications.\14\ Such
applications made substantially identical representations specifying
the instruments that a series of Active Proxy Portfolio Shares is
permitted to hold, and a series of Active Proxy Portfolio Shares would
be limited to such holdings on an initial and continued listing
basis.\15\
---------------------------------------------------------------------------

    \13\ See note 4, supra.
    \14\ See, e.g., Seventh Amended and Restated Application, filed
by the Natixis ETF Trust II and NYSE Group, Inc., for an Order under
Section 6(c) of the 1940 Act for exemptions from various provisions
of the 1940 Act and rules thereunder (File No. 812-14870), dated
October 21, 2019 (``Application''). On November 14, 2019, the
Commission issued a notice regarding the Application. Investment
Company Release No. 33684 (File No. 812-14870). On December 10,
2019, the Commission issued an order (``Exemptive Order'') under the
1940 Act granting the exemptions requested in the Application
(Investment Company Act Release No. 33711 (December 10, 2019)).
    \15\ For example, the Natixis Approval Order relating to listing
of shares of the Natixis U.S. Equity Opportunities ETF (``Fund'')
states: ``Pursuant to the Application and Exemptive Order, the
permissible investments for the Fund include only the following
instruments: ETFs traded on a U.S. exchange; exchange-traded notes
(``ETNs'') traded on a U.S. exchange; U.S. exchange-traded common
stocks; common stocks listed on a foreign exchange that trade on
such exchange contemporaneously with the Shares (``foreign common
stocks'') in the Exchange's Core Trading Session (normally 9:30 a.m.
and 4:00 p.m. Eastern time (``E.T.'')); U.S. exchange-traded
preferred stocks; U.S. exchange-traded American Depositary Receipts
(``ADRs''); U.S. exchange-traded real estate investment trusts; U.S.
exchange-traded commodity pools; U.S. exchange-traded metals trusts;
U.S. exchange-traded currency trusts; and U.S. exchange-traded
futures that trade contemporaneously with the Fund's Shares. In
addition, the Fund may hold cash and cash equivalents (short-term
U.S. Treasury securities, government money market funds, and
repurchase agreements). Pursuant to the Application and Exemptive
Order, the Fund will not hold short positions or invest in
derivatives other than U.S. exchange-traded futures, will not borrow
for investment purposes, and will not purchase any securities that
are illiquid investments at the time of purchase.''
---------------------------------------------------------------------------

    The regulatory staff of the Exchange, or the Financial Industry
Regulatory Authority, Inc. (``FINRA''), on behalf of the Exchange, will
communicate as needed regarding trading in Active Proxy Portfolio
Shares, other exchange-traded equity securities and futures contracts
with other markets that are members of the Intermarket Surveillance
Group (``ISG''), including U.S. and foreign exchanges on which the
components are traded. In addition, the Exchange may obtain information
regarding trading in Active Proxy Portfolio Shares from other markets
that are members of the ISG, including all U.S. securities exchanges
and futures exchanges on which the equity securities and futures
contracts are traded, or with which the Exchange has in place a
comprehensive surveillance sharing agreement.
    With respect to the proposed amendment to Commentary .01(a)(11)
relating to cash and cash equivalents, the enumerated cash
equivalents--short-term U.S. Treasury securities, government money
market funds, and repurchase agreements--also are included as cash
equivalents for purposes of the generic listing criteria applicable to
Managed Fund Shares in Commentary .01(c) to Rule 8.600-E. Such
instruments are short-term, highly liquid, and of high credit quality,
making them less susceptible than other asset classes both to price
manipulation and volatility.\16\
---------------------------------------------------------------------------

    \16\ See Securities Exchange Act Release No. 78397 (July 22,
2016), 81 FR 49320 (July 27, 2016) (SR-NYSEArca-2015-110) (amending
NYSE Arca Equities Rule 8.600 to adopt generic listing standards for
Managed Fund Shares).
---------------------------------------------------------------------------

    The Exchange believes that the proposed standards would continue to
ensure transparency surrounding the listing process for Active Proxy
Portfolio Shares. In addition, the Exchange believes that the proposed
portfolio standards for listing and trading Active Proxy Portfolio
Shares are reasonably designed to promote a fair and orderly market for
such Active Proxy Portfolio Shares. These proposed standards would also
work in conjunction with the existing initial and continued listing
criteria related to surveillance procedures and trading guidelines.
    In support of this proposal, the Exchange represents that:
    (1) The Active Proxy Portfolio Shares will conform to the initial
and continued listing criteria under Rule 8.601-E;
    (2) the Exchange's surveillance procedures are adequate to continue
to properly monitor the trading of Active Proxy Portfolio Shares in all
trading sessions and to deter and detect violations of Exchange rules.
Specifically, the Exchange intends to utilize its existing surveillance
procedures applicable to derivative products, which will include Active
Proxy Portfolio Shares, to monitor trading in the Active Proxy
Portfolio Shares;
    (3) the issuer of a series of Active Proxy Portfolio Shares will be
required to comply with Rule 10A-3 under the Act for the initial and
continued listing of Active Proxy Portfolio Shares, as provided under
NYSE Arca Rule 5.3-E.
    Prior to listing pursuant to proposed amended Commentary .01 to
Rule 8.601-E, an issuer would be required to represent to the Exchange
that it will notify the Exchange of any failure by a series of Active
Proxy Portfolio Shares to comply with the continued listing
requirements, and, pursuant to its obligations under Section 19(g)(1)
of the Act, the Exchange will monitor for compliance with the continued
listing requirements. If a series of Active Proxy Portfolio Shares is
not in compliance with the applicable listing requirements, the
Exchange will commence delisting procedures under NYSE Arca Rule 5.5-
E(m).
    All Active Proxy Portfolio Shares listed and/or traded pursuant to
Rule 8.601-E (including pursuant to unlisted trading privileges) are
subject to all Exchange rules and procedures that

currently govern the trading of equity securities on the Exchange.
    The Exchange notes that the proposed change is not otherwise
intended to address any other issues and that the Exchange is not aware
of any problems that Equity Trading Permit Holders or issuers would
have in complying with the proposed change.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\17\ in general, and furthers the
objectives of Section 6(b)(5) of the Act,\18\ in particular, because it
is 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, in general, to protect investors and the public interest.
---------------------------------------------------------------------------

    \17\ 15 U.S.C. 78f(b).
    \18\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The proposed rule change is designed to perfect the mechanism of a
free and open market and, in general, to protect investors and the
public interest because it would facilitate the listing and trading of
additional Active Proxy Portfolio Shares, which would enhance
competition among market participants, to the benefit of investors and
the marketplace. The Exchange believes that, in view of the
Commission's approval of Exchange rules for Active Proxy Portfolio
Shares and commencement of Exchange trading of shares of series of
Active Proxy Portfolio Shares,\19\ it is appropriate to codify certain
rules within Rule 8.601-E that would generally eliminate the need for
separate proposed rule changes. The Exchange believes that this would
facilitate the listing and trading of additional types of Active Proxy
Portfolio Shares that have investment portfolios that are similar to
investment portfolios for other exchange-traded funds that have been
approved for listing and trading, thereby creating greater efficiencies
in the listing process for the Exchange and the Commission.
---------------------------------------------------------------------------

    \19\ See notes 4-6, supra.
---------------------------------------------------------------------------

    The securities and financial instruments enumerated in proposed
Commentary .01 (a)(1)-(11) to Rule 8.601-E are consistent with, and
limited to, the ``permissible investments'' for series of Active Proxy
Portfolio Shares previously approved by the Commission for Exchange
listing and trading, as described in the Approval Orders.\20\ The
Exchange notes that all exchange-traded equity securities held by a
series of Active Proxy Portfolio Shares would either be listed and
traded on a national securities exchange in the United States or, with
respect to foreign common stocks, traded on a foreign exchange that is
a member of ISG or with which the Exchange has in place a comprehensive
surveillance sharing agreement. In addition, such foreign common stocks
would be required to trade on such foreign exchange contemporaneously
with shares of a series of Active Proxy Portfolio Shares in the
Exchange's Core Trading Session (as defined in NYSE Arca Rule 7.34-E).
Futures contracts held by a series of Active Proxy Portfolio Shares
would be traded on a U.S. futures exchange.
---------------------------------------------------------------------------

    \20\ See notes 4 and 15, supra.
---------------------------------------------------------------------------

    With respect to the proposed amendment to Commentary .01(a)(11)
relating to cash and cash equivalents, the enumerated cash
equivalents--short-term U.S. Treasury securities, government money
market funds, and repurchase agreements--also are included as cash
equivalents for purposes of the generic listing criteria applicable to
Managed Fund Shares in Commentary .01(c) to Rule 8.600-E. Such
instruments are short-term, highly liquid, and of high credit quality,
making them less susceptible than other asset classes both to price
manipulation and volatility.\21\
---------------------------------------------------------------------------

    \21\ See note 16, supra.
---------------------------------------------------------------------------

    As noted above, NYSE Arca Rule 8.601-E(c)(3) requires that the
website for each series of Active Proxy Portfolio Shares shall disclose
the information regarding the Proxy Portfolio as provided in the
exemptive relief pursuant to the 1940 Act applicable to such series,
including specified information, to the extent applicable.
    Quotation and last sale information for U.S. exchange-traded equity
securities in the applicable Proxy Portfolio will be available via the
Consolidated Tape Association high-speed line or from the exchange on
which such securities trade. Price information for foreign common
stocks in the applicable Proxy Portfolio will be available from the
exchange on which such securities trade or from market data vendors.
Intraday pricing information for cash equivalents will be available
through subscription services and/or pricing services. Quotation and
other market information relating to futures contracts is available
from the U.S. futures exchanges listing such instruments as well as
from market data vendors.
    The proposed rule change is also designed to protect investors and
the public interest because Active Proxy Portfolio Shares listed and
traded pursuant to Rule 8.601-E, including pursuant to the proposed
portfolio standards, would continue to be subject to the full panoply
of Exchange rules and procedures that currently govern the trading of
equity securities on the Exchange.
    The Exchange believes that the proposed standards would continue to
ensure transparency surrounding the listing process for Active Proxy
Portfolio Shares. In addition, the Exchange believes that the proposed
portfolio standards for listing and trading Active Proxy Portfolio
Shares are reasonably designed to promote a fair and orderly market for
such Active Proxy Portfolio Shares. These proposed standards would also
work in conjunction with the existing initial and continued listing
criteria related to surveillance procedures and trading guidelines.
    The Exchange believes that the proposed rule change is designed to
prevent fraudulent and manipulative acts and practices because the
Active Proxy Portfolio Shares will be listed and traded on the Exchange
pursuant to the initial and continued listing criteria in Rule 8.601-E.
The Exchange has in place surveillance procedures that are adequate to
properly monitor trading in Active Proxy Portfolio Shares in all
trading sessions and to deter and detect violations of Exchange rules
and applicable federal securities laws. FINRA, on behalf of the
Exchange, or the regulatory staff of the Exchange, will communicate as
needed regarding trading in Active Proxy Portfolio Shares, other
exchange-traded equity securities, and futures contracts with other
markets that are members of the ISG, including all U.S. and foreign
exchanges on which the components are traded. In addition, the Exchange
may obtain information regarding trading in Active Proxy Portfolio
Shares from other markets that are members of the ISG, including all
U.S. securities exchanges and futures exchanges on which the equity
securities and futures contracts are traded, or with which the Exchange
has in place a comprehensive surveillance sharing agreement.
    The Exchange also believes that the proposed rule change would
fulfill the intended objective of Rule 19b-4(e) under the Act by
allowing Active Proxy Portfolio Shares that satisfy the proposed
listing standards to be listed and traded without separate Commission
approval. However, as proposed, the Exchange would continue to file
separate proposed rule changes before the listing and trading of Active
Proxy Portfolio Shares that do not satisfy the additional criteria
described above.

    Prior to listing pursuant to proposed amended Commentary .01 to
Rule 8.601-E, an issuer would be required to represent to the Exchange
that it will advise the Exchange of any failure by a series of Active
Proxy Portfolio Shares to comply with the continued listing
requirements, and, pursuant to its obligations under Section 19(g)(1)
of the Act, the Exchange will monitor for compliance with the continued
listing requirements. If a series of Active Proxy Portfolio Shares is
not in compliance with the applicable listing requirements, the
Exchange will commence delisting procedures under NYSE Arca Rule 5.5-
E(m).
    For these reasons, the Exchange believes that the proposal is
consistent with the Act.

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

    In accordance with Section 6(b)(8) of the Act,\22\ the Exchange
does not believe that the proposed rule change will impose any burden
on competition that is not necessary or appropriate in furtherance of
the purposes of the Act. Instead, the Exchange believes that the
proposed rule change would facilitate the listing and trading of
additional types of Active Proxy Portfolio Shares and result in a
significantly more efficient process surrounding the listing and
trading of Active Proxy Portfolio Shares, which will enhance
competition among market participants, to the benefit of investors and
the marketplace. The Exchange believes that this would reduce the time
frame for bringing Active Proxy Portfolio Shares to market, thereby
reducing the burdens on issuers and other market participants and
promoting competition. In turn, the Exchange believes that the proposed
change would make the process for listing Active Proxy Portfolio Shares
more competitive by applying uniform listing standards with respect to
Active Proxy Portfolio Shares.
---------------------------------------------------------------------------

    \22\ 15 U.S.C. 78f(b)(8).
---------------------------------------------------------------------------

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

    No written comments were solicited or received with respect to the
proposed rule change.

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

    Within 45 days of the date of publication of this notice in the
Federal Register or such longer period up to 90 days (i) as the
Commission may designate 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 or disapprove the 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 email to<EMAIL_ADDRESS>Please include
File Number SR-NYSEArca-2020-77 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-NYSEArca-2020-77. 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-NYSEArca-2020-77 and should be submitted
on or before October 13, 2020.
---------------------------------------------------------------------------

    \23\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\23\
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-20699 Filed 9-18-20; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 86, Number 24 (Monday, February 8, 2021)]
[Notices]
[Pages 8666-8667]
[FR Doc No: 2021-02506]

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

SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-208, OMB Control No. 3235-0213]

Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC
20549-2736.

Extension:
    Rule 17g-1.

    Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 350l-3520), the Securities and Exchange
Commission (the ``Commission'') is soliciting comments on the
collection of information summarized below. The Commission plans to
submit this existing collection of information to the Office of
Management and Budget for extension and approval.
    Rule 17g-1 (17 CFR 270.17g-1) under the Investment Company Act of
1940 (the ``Act'') (15 U.S.C. 80a-17(g)) governs the fidelity bonding
of officers and employees of registered management investment companies
(``funds'') and their advisers. Rule 17g-1 requires, in part, the
following:

Independent Directors' Approval

    The form and amount of the fidelity bond must be approved by a
majority of the fund's independent directors at least once annually,
and the amount of any premium paid by the fund for any ``joint insured
bond,'' covering multiple funds or certain affiliates, must be approved
by a majority of the fund's independent directors.

Terms and Provisions of the Bond

    The amount of the bond may not be less than the minimum amounts of
coverage set forth in a schedule based on the fund's gross assets. The
bond must provide that it shall not be cancelled, terminated, or
modified except upon 60-days written notice to the affected party and
to the Commission. In the case of a joint insured bond, 60-days written
notice must also be given to each fund covered by the bond. A joint
insured bond must provide that the fidelity insurance company will
provide all funds covered by the bond with a copy of the agreement, a
copy of any claim on the bond, and notification of the terms of the
settlement of any claim prior to execution of that settlement. Finally,
a fund that is insured by a joint bond must enter into an agreement
with all other parties insured by the joint bond regarding recovery
under the bond.

Filings With the Commission

    Upon the execution of a fidelity bond or any amendment thereto, a
fund must file with the Commission within 10 days: (i) A copy of the
executed bond or any amendment to the bond, (ii) the independent
directors' resolution approving the bond, and (iii) a statement as to
the period for which premiums have been paid on the bond. In the case
of a joint insured bond, a fund must also file: (i) A statement showing
the amount the fund would have been required to maintain under the rule
if it were insured under a single insured bond; and (ii) the agreement
between the fund and all other insured parties regarding recovery under
the bond. A fund must also notify the Commission in writing within five
days of any claim or settlement on a claim under the fidelity bond.

Notices to Directors

    A fund must notify by registered mail each member of its board of
directors of: (i) Any cancellation, termination, or modification of the
fidelity bond at least 45 days prior to the effective date; and (ii)
the filing or settlement of any claim under the fidelity bond when
notification is filed with the Commission.
    Rule 17g-1's independent directors' annual review requirements,
fidelity bond content requirements, joint bond agreement requirement,
and the required notices to directors are designed to ensure the safety
of fund assets against losses due to the conduct of persons who may
obtain access to those assets. These requirements also seek to
facilitate oversight of a fund's fidelity bond. The rule's required
filings with the Commission are designed to assist the Commission in
monitoring funds' compliance with the fidelity bond requirements.
    Based on conversations with representatives in the fund industry,
the Commission staff estimates that for each of the estimated 2,200
active funds (respondents),\1\ the average annual paperwork burden
associated with rule 17g-1's requirements is two hours, one hour each
for a compliance attorney and the board of directors as a whole. The
time spent by a compliance attorney includes time spent filing reports
with the Commission for fidelity losses (if any) as well as paperwork
associated with any notices to directors, and managing any updates to
the bond and the joint agreement (if one exists). The time spent by the
board of directors as a whole includes any time spent initially
establishing the bond, as well as time spent on annual updates and
approvals. The Commission staff therefore estimates the total ongoing
paperwork burden hours per year for all funds required by rule 17g-1 to
be 4,400 hours (2,200 funds x 2 hours = 4,400 hours). Commission staff
continues to

estimate that the filing and reporting requirements of rule 17g-1 do
not entail any external cost burdens.
---------------------------------------------------------------------------

    \1\ Based on a review of fund filings for the three-year period
from 2018 to 2020, Commission staff estimates there are
approximately 2,200 funds (registered open- and closed-end funds,
and business development companies) that must comply with the
collections of information under rule 17g-1, and which collectively
submit an estimated 2,597 filings on Form 17G annually.
---------------------------------------------------------------------------

    These estimates of average burden hours are made solely for the
purposes of the Paperwork Reduction Act. These estimates are not
derived from a comprehensive or even a representative survey or study
of Commission rules. The collection of information required by rule
17g-1 is mandatory and will not be kept confidential. An agency may not
conduct or sponsor, and a person is not required to respond to, a
collection of information unless it displays a currently valid control
number.
    Written comments are requested on: (i) Whether the collection of
information is necessary for the proper performance of the functions of
the Commission, including whether the information has practical
utility; (ii) the accuracy of the Commission's estimate of the burden
of the collection of information; (iii) ways to enhance the quality,
utility and clarity of the information collected; and (iv) ways to
minimize the burden of the collection of information on respondents,
including through the use of automated collection techniques or other
forms of information technology. Consideration will be given to
comments and suggestions submitted in writing within 60 days of this
publication.
    Please direct your written comments to David Bottom, Director/Chief
Information Officer, Securities and Exchange Commission, C/O Cynthia
Roscoe, 100 F Street NE, Washington, DC 20549; or send an email to:
<EMAIL_ADDRESS>
    Dated: February 3, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-02506 Filed 2-5-21; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: November 1, 2007 (Volume 72, Number 211)]
[Notices]
[Page 61875-61877]
[DOCID:fr01no07-52]

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

ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-OAR-2004-0082, FRL-8490-1]

Agency Information Collection Activities; Proposed Collection;
Comment Request; Reporting and Recordkeeping Requirements Under EPA's
Natural Gas STAR Program; EPA ICR No. 1736.05, OMB Control Number 2060-
0328

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice.

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

SUMMARY: In compliance with the Paperwork Reduction Act (PRA) (44
U.S.C. 3501 et seq.), this document announces that EPA is planning to
submit a request to renew an existing approved Information Collection
Request (ICR) to the Office of Management and Budget (OMB). ICR is
scheduled to expire on 03/31/2008.

DATES: Comments must be submitted on or before December 31, 2007.

ADDRESSES: Submit your comments, identified by Docket ID No. EPA-HQ-
OAR-2004-0082 by one of the following methods:
     http://www.regulations.gov: Follow the on-line

instructions for submitting comments.
     E-mail<EMAIL_ADDRESS>     Fax Number:<PHONE_NUMBER>.
     Phone Number:<PHONE_NUMBER>.
     Mail: Docket ID No. EPA-HQ-OAR-2004-0082, Environmental
Protection Agency, Mailcode: 2822T, 1200 Pennsylvania Ave., NW.,
Washington, DC 20460.
     Hand Delivery: EPA Docket Center, 1301 Constitution Ave.,
NW., Room 3334, Washington, DC 20460 (Attention Docket EPA-HQ-OAR-2004-
0082). Such deliveries are only accepted during the Docket's normal
hours of operation, and special arrangements should be made for
deliveries of boxed information.
    Instructions: Direct your comments to Docket ID No. EPA-HQ-OAR-
2004-0082. EPA's policy is that all comments received will be included
in the public docket without change and may be made available online at
http://www.regulations.gov, including any personal information provided,

unless the comment includes information claimed to be Confidential
Business Information (CBI) or other information whose disclosure is
restricted by statute. Do not submit information that you consider to
be CBI or otherwise protected through http://www.regulations.gov or e-mail.

The http://www.regulations.gov Web site is an ``anonymous access'' system,

which means EPA will not know your identity or contact information
unless you provide it in the body of your comment. If you send an e-
mail comment directly to EPA without going through http://www.regulations.gov

your e-mail address will be automatically captured and included as part
of the comment that is placed in the public docket and made available
on the Internet. If you submit an electronic comment, EPA recommends
that you include your name and other contact information in the body of
your comment and with any disk or CD-ROM you submit. If EPA cannot read
your comment due to technical difficulties and cannot contact you for
clarification, EPA may not be able to consider your comment. Electronic
files should avoid the use of special characters, any form of
encryption, and be free of any defects or viruses. For additional
information about EPA's public docket visit the EPA Docket Center
homepage at http://www.epa.gov/epahome/dockets.htm.

FOR FURTHER INFORMATION CONTACT: Suzie Waltzer, Office of Atmospheric
Program, Climate Change Division, 6207J, Environmental Protection
Agency, 1200 Pennsylvania Ave., NW., Washington, DC 20460; telephone
number:<PHONE_NUMBER>; fax number:<PHONE_NUMBER>; e-mail address:
<EMAIL_ADDRESS>

SUPPLEMENTARY INFORMATION:

How Can I Access the Docket and/or Submit Comments?

    EPA has established a public docket for this ICR under Docket ID
No. EPA-HQ-OAR-2004-0082, which is available for online viewing at
http://www.regulations.gov, or in person viewing at the Air and Radiation

Docket in the EPA Docket Center (EPA/DC), EPA West, Room 3334, 1301
Constitution Ave., NW., Washington, DC. The EPA/DC Public Reading Room
is open from 8 a.m. to 4:30 p.m., Monday through Friday, excluding
legal holidays. The telephone number for the Reading Room is 202-566-
1744, and the telephone number for the Air and Radiation Docket is 202-
566-1742.
    Use http://www.regulations.gov to obtain a copy of the previously approved

Information Collection Request EPA ICR No. 1736.04, submit or view
public comments, access the index listing of the contents of the
docket, and to access those documents in the public docket that are
available electronically. Once in the system, select ``search,'' then
key in the docket ID number identified in this document.

What Information Is EPA Particularly Interested in?

    Pursuant to section 3506(c)(2)(A) of the PRA, EPA specifically
solicits comments and information to enable it to:
    (i) Evaluate whether the proposed collection of information is
necessary for the proper performance of the functions of the Agency,
including whether the information will have practical utility;
    (ii) Evaluate the accuracy of the Agency's estimate of the burden
of the proposed collection of information, including the validity of
the methodology and assumptions used;
    (iii) Enhance the quality, utility, and clarity of the information
to be collected; and
    (iv) Minimize the burden of the collection of information on those
who are to respond, including through the use of appropriate automated
electronic, mechanical, or other technological collection techniques or
other forms of information technology, e.g., permitting electronic
submission of responses. In particular, EPA is requesting comments from
very small businesses (those that employ less than 25) on examples of
specific additional efforts that EPA could make to reduce the paperwork
burden for very small businesses affected by this collection.

What Should I Consider when I Prepare My Comments for EPA?

    You may find the following suggestions helpful for preparing your
comments:
    1. Explain your views as clearly as possible and provide specific
examples.
    2. Describe any assumptions that you used.
    3. Provide copies of any technical information and/or data you used
that support your views.
    4. If you estimate potential burden or costs, explain how you
arrived at the estimate that you provide.
    5. Offer alternative ways to improve the collection activity.
    6. Make sure to submit your comments by the deadline identified
under DATES.
    7. To ensure proper receipt by EPA, be sure to identify the docket
ID number assigned to this action in the subject line on the first page
of your response. You may also provide the name, date, and Federal
Register citation.

What Information Collection Activity or ICR Does this Apply to?

    Docket ID No. EPA-HQ-OAR-2004-0082
    Affected entities: Entities potentially affected by this action are
those which produce, process, transport, and distribute natural gas.
    Title: Reporting and Recordkeeping Requirements Under EPA's Natural
Gas STAR Program.
    ICR numbers: EPA ICR No. 1736.05, OMB Control number 2060-0328.
    ICR status: This ICR is currently scheduled to expire on 3/31/2008.
An Agency may not conduct or sponsor, and a person is not required to
respond to, a collection of information, unless it displays a currently
valid OMB control number. The OMB control numbers for EPA's regulations
in title 40 of the CFR, after appearing in the Federal Register when
approved, are listed in 40 CFR part 9, are displayed either by
publication in the Federal Register or by other appropriate means, such
as on the related collection instrument or form, if applicable. The
display of OMB control numbers in certain EPA regulations is
consolidated in 40 CFR part 9.
    Abstract: Natural Gas STAR is an EPA-sponsored, voluntary program
that encourages natural gas companies to adopt cost effective methods
for reducing methane emissions. Natural Gas STAR Partners agree to
implement cost-effective technologies and practices to reduce methane
emissions, which will save participants money and improve environmental
quality. EPA needs to collect information to establish program
participation and to obtain general information on new Natural Gas STAR
Partners. EPA also uses the information collection to evaluate a
Partner's progress and performance, assess overall program results, and
develop technical guidance documents for the benefit of the industry.
Information collection is accomplished through the use of an annual
reporting process that allows companies to report their accomplishments
in either a traditional hard-copy format or electronically.
Participation in Natural Gas STAR is voluntary. Natural Gas STAR
Partners may designate information submitted under this ICR as
confidential business information. EPA will treat all such information
as confidential business information and will not make the company or
agency-specific information collected under this ICR available to the
general public. An agency may not conduct or sponsor, and a person is
not required to respond to, a collection of information unless it
displays a currently valid OMB control number. The OMB control numbers
for EPA's regulations are listed in 40 CFR part 9 and 48 CFR Chapter
15.
    Burden Statement: The annual public reporting and recordkeeping
burden for this collection of information is estimated to average 41
hours per facility. Burden means the total time, effort, or financial
resources expended by persons to generate, maintain, retain, or
disclose or provide information to or for a Federal agency. This
includes the time needed to review instructions; develop, acquire,
install, and utilize technology and systems for the purposes of
collecting, validating, and verifying information, processing and
maintaining information, and disclosing and providing information;
adjust the existing ways to comply with any previously applicable
instructions and requirements which have subsequently changed; train
personnel to be able to respond to a collection of information; search
data sources; complete and review the collection of information; and
transmit or otherwise disclose the information.
    The ICR provides a detailed explanation of the Agency's estimate,
which is only briefly summarized here:
    Estimated total number of potential respondents: 130.
    Frequency of response: 130.
    Estimated total average number of responses for each respondent:
varies.
    Estimated total annual burden hours: 5,348.
    Estimated total annual costs: $482,569.

Are There Changes in the Estimates From the Last Approval?

    The overall reporting burden for respondents has increased from the
previous ICR. Burden hours increased from 4,432 to 5,348 hours per year
and costs increased from $402,141 to $482,569. This change is largely a
result of an increase in the number of program participants.

What is the Next Step in the Process for This ICR?

    EPA will consider the comments received and amend the ICR as
appropriate. The final ICR package will then be submitted to OMB for
review and approval pursuant to 5 CFR 1320.12. At that time, EPA will
issue another Federal Register notice pursuant to 5 CFR
1320.5(a)(1)(iv) to announce the submission of the ICR to OMB and the
opportunity to submit additional comments to OMB. If you have any
questions about this ICR or the approval process, please contact the
technical person listed under FOR FURTHER INFORMATION CONTACT.

    Dated: October 24, 2007.
Gloria DeBolt,
Acting Director, Climate Change Division.
[FR Doc. E7-21524 Filed 10-31-07; 8:45 am]

BILLING CODE 6560-50-P