[Federal Register Volume 82, Number 97 (Monday, May 22, 2017)]
[Rules and Regulations]
[Pages 23144-23146]
[FR Doc No: 2017-10389]

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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 165

[Docket Number USCG-2016-0825]
RIN 1625-AA00

Safety Zone; United Illuminating Company Housatonic River
Crossing Project; Housatonic River; Milford and Stratford, CT

AGENCY: Coast Guard, DHS.

ACTION: Temporary final rule.

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SUMMARY: The Coast Guard is establishing a temporary safety zone for
certain waters of the Housatonic River. This action is necessary to
provide for the safety of life on these navigable waters near Milford
and Stratford, CT, during the United Illuminating Company Housatonic
River Crossing. This regulation prohibits vessels or people from being
in the safety zone unless authorized by the Captain of the Port Long
Island Sound or a designated representative. The safety zone will only
be enforced during cable pulling operations or other instances which
may create a hazard to navigation.

DATES: This rule is effective without actual notice from May 22, 2017
through August 3, 2017. For the purposes of enforcement, actual notice
will be used from April 26, 2017 through May 22, 2017.

ADDRESSES: To view documents mentioned in this preamble as being
available in the docket, go to http://www.regulations.gov, type USCG-
2016-0825 in the ``SEARCH'' box and click ``SEARCH.'' Click on Open
Docket Folder on the line associated with this rule.

FOR FURTHER INFORMATION CONTACT: If you have questions on this rule,
contact Petty Officer Katherine Linnick, Prevention Department, U.S.
Coast Guard Sector Long Island Sound, telephone<PHONE_NUMBER>, email
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. Table of Abbreviations

COTP Captain of the Port
DHS Department of Homeland Security
FR Federal Register
LIS Long Island Sound
NPRM Notice of Proposed Rulemaking
NAD 83 North American Datum 1983

II. Background Information and Regulatory History

    This rulemaking establishes a temporary safety zone for certain
waters of the Housatonic River near Milford and Stratford, CT.
Corresponding regulatory history is discussed below.
    On August 25, 2016, United Illuminating Company notified the Coast
Guard that it would conduct a project involving the installation of new
transmission conductors over the Housatonic River near Stratford and
Milford, CT. On March 14, 2017, the Coast Guard published a NPRM
entitled, ``Safety Zone; United Illuminating Company Housatonic River
Crossing Project; Housatonic River; Milford and Stratford, CT'' in the
Federal Register (80 FR 13572). There we stated why we issued the NPRM,
and invited comments on our proposed regulatory action related to this
transmission project. During the comment period that ended April 13,
2017, we received zero comments.
    The United Illuminating Company Housatonic River Crossing Project
is schedule to be completed in two phases. The first phase involving
the stringing of optical fiber ground wires on the North circuit of the
project is scheduled to begin on April, 26, 2017 through May 4, 2017.
The second phase involves the stringing of optical fiber ground wires
on the South circuit from July 29, 2017 through August 3, 2017. The
work area for both phases is between the eastern and western shores of
the Housatonic River. The southern boundary of the work area is the
Metro-North Rail Bridge. The northern boundary of the work area is
approximately 525 feet upstream of the Metro-North Rail Bridge. Exact
coordinates are included in the regulatory text. Potential hazards from
this project include entanglement of vessels with the messenger line
and falling equipment from the electrical towers. The Captain of the
Port Long Island Sound (COTP) has determined that the potential hazards
associated with the cable crossing project could be a safety concern
for anyone within the proposed work area.
    Under 5 U.S.C. 553(b)(B), the Coast Guard finds that good cause
exists for making this rule effective less than 30 days after
publication in the Federal Register. As stated above, the first phase
of the United Illuminating Company Housatonic River Crossing Project is
scheduled to begin on April 26, 2017. Thus, there is now insufficient
time for a 30 day comment period before the need to enforce this safety
zone on April 26, 2017. Delaying the enforcement of this safety zone to
allow a 30 day effective period will be impractical and contrary to the
public interest because it would inhibit the Coast Guard's ability to
fulfill its mission to keep the waterways safe.

III. Legal Authority and Need for Rule

    The legal basis for this temporary rule is 33 U.S.C. 1231. The COTP
Sector LIS has determined that potential hazards associated with the
river cable crossing project starting on April 26, 2017 and continuing
through August 3, 2017 will be a safety concern for anyone within the
work zone. This rule is needed to protect people and vessels within the
safety zone until the cable crossing project is completed.

IV. Discussion of Comments, Changes, and the Rule

    As noted above, we received no comments on our NPRM published on
March 14, 2017. There are no changes in the regulatory text of this
rule from the proposed rule in the NPRM.
    This rule establishes a safety zone from 8:00 a.m. on April 26,
2017 through 6:00 p.m. on May 4, 2017, and from 8:00 a.m. on July 29,
2017 through 6:00 p.m. on August 3, 2017. The safety zone will cover
all navigable waters of the Housatonic River near Milford and
Stratford, CT contained within the following area: Beginning at a point
on land in position at 41[deg]12'17'' N., 073[deg]06'40'' W. near the
Governor John Davis Lodge Turnpike (I-95) Bridge; then northeast across
the Housatonic River to a point on land in position at 41[deg]12'20''
N, 073[deg]06'29'' W near the Governor John Davis Lodge Turnpike (I-95)
Bridge; then northwest along the shoreline to a point on land in
position at 41[deg]12'25'' N, 073[deg]06'31'' W; then southwest across
the Housatonic River to a point on land in position at 41[deg]12'22''
N., 073[deg]06'43'' W.; then southeast along the shoreline back to
point of origin (NAD 83). All positions are approximate.
    The duration of the zone is intended to ensure the safety of
vessels on the navigable waters within the work zone before, during,
and after each messenger pulling operation or during any instance that
necessitates a temporary closure of the Housatonic River at the work
site. No vessel or person will be permitted to enter the safety zone
without obtaining permission from the COTP or a designated
representative. The Coast Guard will issue a Broadcast Notice to
Mariners via VHF-FM marine channel 16 eight hours in advance of any
scheduled enforcement period. The regulatory text we are enforcing
appears at the end of this document.

V. Regulatory Analyses

    We developed this rule after considering numerous statutes and
Executive Orders related to rulemaking. Below we summarize our analyses
based on a number of these statutes and Executive Orders, and we
discuss First Amendment rights of protestors.

A. Regulatory Planning and Review

    E.O.s 12866 (``Regulatory Planning and Review'') and 13563
(``Improving Regulation and Regulatory Review'') direct agencies to
assess the costs and benefits of available regulatory alternatives and,
if regulation is necessary, to select regulatory approaches that
maximize net benefits including potential economic, environmental,
public health and safety effects, distributive impacts, and equity.
Executive Order 13563 emphasizes the importance of quantifying both
costs and benefits, of reducing costs, of harmonizing rules, and of
promoting flexibility. Executive Order 13771 (``Reducing Regulation and
Controlling Regulatory Costs''), directs agencies to reduce regulation
and control regulatory costs and provides that ``for every one new
regulation issued, at least two prior regulations be identified for
elimination, and that the cost of planned regulations be prudently
managed and controlled through a budgeting process.''
    The Office of Management and Budget (OMB) has not designated this
rule a significant regulatory action under section 3(f) of Executive
Order 12866. Accordingly, OMB has not reviewed it.
    As this rule is not a significant regulatory action, this rule is
exempt from the requirements of Executive Order 13771. See OMB's
Memorandum titled ``Interim Guidance Implementing Section 2 of the
Executive Order of January 30, 2017 titled `Reducing Regulation and
Controlling Regulatory Costs' '' (February 2, 2017).
    This regulatory action creates a temporary safety zone that will be
enforced for less than 15 days on a designated area of the Housatonic
River. During those 15 days, the safety zone will be enforced only
during brief periods of time when the cable installation project
necessitates closure of the waterway or during an emergency. The Coast
Guard will issue a Broadcast Notice to Mariners via VHF-FM marine
channel 16 about the zone and any periods of enforcement. The rule also
allows vessels to seek permission to enter the zone.

B. Impact on Small Entities

    The Regulatory Flexibility Act of 1980, 5 U.S.C. 601-612, as
amended, requires Federal agencies to consider the potential impact of
regulations on small entities during rulemaking. The term ``small
entities'' comprises small businesses, not-for-profit organizations
that are independently owned and operated and are not dominant in their
fields, and governmental jurisdictions with populations of less than
50,000. The Coast Guard received no comments from the Small Business
Administration on this rulemaking. The Coast Guard certifies under 5
U.S.C. 605(b) that this rule will not have a significant economic
impact on a substantial number of small entities.
    While some owners or operators of vessels intending to transit this
regulated area may be small entities, for the reasons stated in section
V.A above, this rule will not have a significant economic impact on any
vessel owner or operator. Under section 213(a) of the Small Business
Regulatory Enforcement Fairness Act of 1996 (Pub. L. 104-121), we want
to assist small entities in understanding this rule. If the rule would
affect your small business, organization, or governmental jurisdiction
and you have questions concerning its provisions or options for
compliance, please contact the person listed in the FOR FURTHER
INFORMATION CONTACT.
    Small businesses may send comments on the actions of Federal
employees who enforce, or otherwise determine compliance with, Federal
regulations to the Small Business and Agriculture Regulatory
Enforcement Ombudsman and the Regional Small Business Regulatory
Fairness Boards. The Ombudsman evaluates these actions annually and
rates each agency's responsiveness to small business. If you wish to
comment on actions by employees of the Coast Guard, call 1-888-REG-FAIR
(1-888-734-3247). The Coast Guard will not retaliate against small
entities that question or complain about this rule or any policy or
action of the Coast Guard.

C. Collection of Information

    This rule calls for no new collection of information under the
Paperwork Reduction Act of 1995 (44 U.S.C. 3501-3520).

D. Federalism and Indian Tribal Governments

    A rule has implications for federalism under Executive Order 13132,
Federalism, if it has a substantial direct effect 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. We have analyzed this rule under that Order and have
determined that it is consistent with the fundamental federalism
principles and preemption requirements described in Executive Order
13132.

    Also, this rule does not have tribal implications under Executive
Order 13175, Consultation and Coordination with Indian Tribal
Governments, because it would not have a substantial direct effect on
one or more Indian tribes, on the relationship between the Federal
Government and Indian tribes, or on the distribution of power and
responsibilities between the Federal Government and Indian tribes. If
you believe this rule has implications for federalism or Indian tribes,
please contact the person listed in the FOR FURTHER INFORMATION CONTACT
section above.

E. Unfunded Mandates Reform Act

    The Unfunded Mandates Reform Act of 1995 (2 U.S.C. 1531-1538)
requires Federal agencies to assess the effects of their discretionary
regulatory actions. In particular, the Act addresses actions that may
result in the expenditure by a State, local, or tribal government, in
the aggregate, or by the private sector of $100,000,000 (adjusted for
inflation) or more in any one year. Though this rule will not result in
such an expenditure, we do discuss the effects of this rule elsewhere
in this preamble.

F. Environment

    We have analyzed this rule under Department of Homeland Security
Management Directive 023-01 and Commandant Instruction M16475.lD, which
guide the Coast Guard in complying with the National Environmental
Policy Act of 1969 (42 U.S.C. 4321-4370f), and have made a
determination that this action is one of a category of actions that do
not individually or cumulatively have a significant effect on the human
environment. This rule creates a temporary safety zone lasting less
than 15 days. During those 15 days, the safety zone will be enforced
only during brief periods of time when the cable installation project
necessitates closure of the waterway or during an emergency. Normally
such actions are categorically excluded from further review under
paragraph 34(g) of Figure 2-1 of Commandant Instruction M16475.lD. A
Record of Environmental Consideration (REC) for Categorically Excluded
Actions is available in the docket where indicated under ADDRESSES. We
seek any comments or information that may lead to the discovery of a
significant environmental impact from this rule.

G. Protest Activities

    The Coast Guard respects the First Amendment rights of protesters.
Protesters are asked to contact the person listed in the FOR FURTHER
INFORMATION CONTACT section to coordinate protest activities so that
your message can be received without jeopardizing the safety or
security of people, places, or vessels.

List of Subjects in 33 CFR Part 165

    Harbors, Marine safety, Navigation (water), Reporting and
recordkeeping requirements, Security measures, and Waterways.

    For the reasons discussed in the preamble, the Coast Guard amends
33 CFR part 165 as follows:

PART 165--REGULATED NAVIGATION AREAS AND LIMITED ACCESS AREAS

0
1. The authority citation for part 165 continues to read as follows:

    Authority: 33 U.S.C. 1231; 50 U.S.C. 191; 33 CFR 1.05-1, 6.04-1,
6.04-6, and 160.5; and Department of Homeland Security Delegation
No. 0170.1.

0
2. Add Sec.  165.T01-0825 to read as follows:

Sec.  165.T01-0825  Safety Zone; United Illuminating Company Housatonic
River Crossing Project; Housatonic River; Milford and Stratford, CT.

    (a) Location: The following area is included with this safety zone:
All navigable waters of the Housatonic River near Milford and
Stratford, CT contained within the following area; beginning at a point
on land in position at 41[deg]12'17'' N., 073[deg]06'40'' W. near the
Governor John Davis Lodge Turnpike (I-95) Bridge; then northeast across
the Housatonic River to a point on land in position at 41[deg]12'20''
N., 073[deg]06'29'' W. near the Governor John Davis Lodge Turnpike (I-
95) Bridge; then northwest along the shoreline to a point on land in
position at 41[deg]12'25'' N., 073[deg]06'31'' W.; then southwest
across the Housatonic River to a point on land in position at
41[deg]12'22'' N., 073[deg]06'43'' W.; then southeast along the
shoreline back to point of origin (NAD 83). All positions are
approximate.
    (b) Effective and enforcement period. This rule will be effective
from 8:00 a.m. on April 26, 2017 to 6:00 p.m. on May 4, 2017, and from
8:00 a.m. on July 29, 2017 to 6:00 p.m. on August 3, 2017. The Coast
Guard will issue a Broadcast Notice to Mariners via VHF-FM marine
channel 16 eight hours in advance to any scheduled period of
enforcement or as soon as practicable in response to an emergency.
    (c) Definitions. The following definitions apply to this section: A
``designated representative'' is any Coast Guard commissioned, warrant
or petty officer of the U.S. Coast Guard who has been designated by the
COTP, Sector Long Island Sound, to act on his or her behalf. The
designated representative may be on an official patrol vessel or may be
on shore and will communicate with vessels via VHF-FM radio or
loudhailer. ``Official patrol vessels'' may consist of any Coast Guard,
Coast Guard Auxiliary, state, or local law enforcement vessels assigned
or approved by the COTP Sector Long Island Sound. In addition, members
of the Coast Guard Auxiliary may be present to inform vessel operators
of this regulation. A ``work vessel'' is any vessel provided by United
Illuminating Company for the Housatonic River Crossing Project and may
be hailed via VHF channel 13 or 16.
    (d) Regulations. (1) The general regulations contained in 33 CFR
165.23 apply.
    (2) In accordance with the general regulations in 33 CFR 165.23,
entry into or movement within this zone is prohibited unless authorized
by the Captain of the Port Long Island Sound.
    (3) Operators of vessels desiring to enter or operate within the
safety zone should contact the COTP Sector Long Island Sound at 203-
468-4401 (Sector LIS command center), or the designated representative
via VHF channel 16 to obtain permission to do so. Request to enter or
operate in the safety zone must be made 24 hours in advance of the
planned undertaking.
    (4) Mariners are requested to proceed with caution after passing
arrangements have been made. Mariners are requested to cooperate with
the United Illuminating Company work vessels for the safety of all
concerned. The United Illuminating Company work vessels will be
monitoring VHF channels 13 and 16. Mariners are requested to proceed
with extreme caution and operate at their slowest safe speed as to not
cause a wake.
    (5) Any vessel given permission to enter or operate in the safety
zone must comply with all directions given to them by the COTP Sector
Long Island Sound, or the designated on-scene representative.
    (6) Upon being hailed by a U.S. Coast Guard vessel by siren, radio,
flashing light or other means, the operator of the vessel shall proceed
as directed.

    Dated: April 24, 2017.
A.E. Tucci,
Captain, U.S. Coast Guard, Captain of the Port Sector Long Island
Sound.
[FR Doc. 2017-10389 Filed 5-19-17; 8:45 am]
BILLING CODE 9110-04-P


[Federal Register Volume 85, Number 182 (Friday, September 18, 2020)]
[Notices]
[Pages 58404-58410]
[FR Doc No: 2020-20615]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-89867; File No. SR-FINRA-2020-028]

Self-Regulatory Organizations; Financial Industry Regulatory
Authority, Inc.; Notice of Filing and Immediate Effectiveness of a
Proposed Rule Change To Amend the Standardized Membership Application
Forms--Form NMA and Form CMA--To Conform to Amendments to the
Membership Application Program Rules as Described in SR-FINRA-2019-030

September 15, 2020.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on September 11, 2020, the Financial Industry Regulatory Authority,
Inc. (``FINRA'') filed with the Securities and Exchange Commission
(``SEC'' or ``Commission'') the proposed rule change as described in
Items I and II below, which Items have been prepared by FINRA. FINRA
has designated the

proposed rule change as constituting a ``non-controversial'' rule
change under paragraph (f)(6) of Rule 19b-4 under the Act,\3\ which
renders the proposal effective upon receipt of this filing by the
Commission. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 17 CFR 240.19b-4(f)(6).
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    FINRA is proposing to (1) amend the standardized membership
application forms--Form NMA (New Membership Application Form) and Form
CMA (Continuing Membership Application Form)--required under Rule 1013
(New Member Application and Interview) and Rule 1017 (Application for
Approval of Change in Ownership, Control, or Business Operations),
respectively, to conform to amendments to the Membership Application
Program (``MAP'') rules \4\ as described in File No. SR-FINRA-2019-030;
\5\ and (2) make non-substantive and technical changes to Form NMA and
Form CMA.\6\ The proposed rule change does not make any changes to the
text of FINRA rules.
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    \4\ The MAP rules consist of Rules 1011 through 1019, which
reside under the FINRA Rule 1000 Series (Member Application and
Associated Person Registration).
    \5\ See Securities Exchange Act Release No. 88482 (March 26,
2020), 85 FR 18299 (April 1, 2020) (Order Approving File No. SR-
FINRA-2019-030). FINRA is separately developing comprehensive
changes to the MAP rules in connection with the retrospective review
of this rule set, which will also require conforming amendments to
the standardized forms. See Regulatory Notice 18-23 (July 2018)
(``Notice 18-23'') (requesting comment on a proposal regarding the
MAP rules).
    \6\ Such proposed changes would include updating the rule
references throughout the forms. For example, FINRA is proposing to
replace references to ``NASD'' with ``FINRA.''
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    The text of the proposed rule change is available on FINRA's
website at http://www.finra.org, at the principal office of FINRA and
at the Commission's Public Reference Room.

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

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

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

1. Purpose
Background
    The MAP rules require an applicant for new or continuing membership
to file an application that includes a Form NMA or Form CMA, as
applicable.\7\ Form NMA and Form CMA streamline the new and continuing
membership application review process by setting forth the documents
and information an applicant must gather to produce a complete
application package for FINRA's review.\8\
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    \7\ See Rule 1013(a)(1)(A) and Rule 1017(b)(2).
    \8\ See Securities Exchange Act Release No. 66555 (March 9,
2012), 77 FR 15445 (March 15, 2012) (Notice of Filing and Immediate
Effectiveness of File No. SR-FINRA-2012-017) and Securities Exchange
Act Release No. 67082 (May 31, 2012), 77 FR 33539 (June 6, 2012)
(Notice of Filing of Amendment No. 1 and Order Granting Approval of
File No. SR-FINRA-2012-018 as Modified by Amendment No. 1).
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    In general, Form NMA and Form CMA are organized into sections that
align with the standards for admission set forth in Rule 1014(a)
(Standards for Admission). Each section begins with a description of
the applicable standard in Rule 1014(a), followed by a series of
questions related to that standard that are intended to help the
applicant provide the responses needed to demonstrate that it can meet
each of the standards described under Rule 1014(a), and to facilitate
FINRA's review of the application.\9\ An applicant is able to provide
its documents and information by attaching files in various formats
(e.g., .docx, .pdf, .xlsx) or by entering free form text in text boxes,
and making selections through screen components such as drop-down menus
and radio buttons, among others. While both forms are organized by
standard, the underlying questions, and the documents and information
that an applicant may need to provide vary based on whether the
application is for new or continuing membership.\10\
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    \9\ The portions of the forms that are marked with a red
asterisk require the applicant to provide a response.
    \10\ For example, in Form NMA's Standard 1 section, titled
``Overview of the Applicant,'' there are questions that focus on
verifying the business activities the applicant identifies on Form
BD (Uniform Application For Broker-Dealer Registration). On the
other hand, the questions grouped in Form CMA's Standard 1 section,
titled ``Overview of the Applicants,'' focus on understanding the
circumstances surrounding the contemplated change or event set forth
under Rule 1017(a) (Events Requiring an Application).
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A. Standard 3 in Form NMA and Form CMA
    Rule 1014(a)(3) (``Standard 3'') is one of the standards for
admission FINRA must consider in determining whether to approve an NMA
or CMA. Standard 3 requires FINRA to determine whether an applicant for
new or continuing membership and its associated persons ``are capable
of complying with'' the federal securities laws, the rules and
regulations thereunder, and FINRA rules. Standard 3 sets forth several
factors, including past and current disciplinary actions and customer
claims, that FINRA must consider in making that determination. The
existence of specified factors ``[raises] a question of capacity to
comply with the federal securities laws and the rules of [FINRA],''
which results in a rebuttable presumption to deny the application. Form
NMA and Form CMA describe the specified factors in Standard 3, as well
as the specified factors that trigger a rebuttable presumption to deny
an application.
    In addition, both forms require the applicant to provide a ``yes''
or ``no'' answer as to whether the applicant or any of its associated
persons are subject to any of the specified factors described in
Standard 3,\11\ and directs the applicant to provide information (e.g.,
subject party, nature of the activity, any findings, any fine, or other
dispositions) for each factor involving the applicant or its associated
persons, unless details of a particular factor have been reported to
the Central Registration Depository (CRD[supreg]).\12\
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    \11\ See Form NMA, Standard 3, Question 1 (within the category
titled ``Explain how this Standard is met.'') and Form CMA, Standard
3, Question 1 (within the category titled ``Explain how this
Standard is met.'').
    \12\ See Form NMA, Standard 3, Question 1 (within the category
titled ``Explain how this Standard is met.'') and Form CMA, Standard
3, Question 1 (within the category titled ``Explain how this
Standard is met.'').
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    The forms require the applicant to explain in detail how, even with
the existence of any of the specified factors that trigger the
presumption to deny the application, it is nonetheless capable of
complying with industry rules, regulation, laws, and observing high
standards of commercial honor and just and equitable principles of
trade.\13\ In addition, to the extent that any of the triggering events
under Standard 3 exist, the forms require the applicant to reference
any controls or systems put in place and refer to any specific pages or

sections in the applicant's written supervisory procedures that address
heightened supervisory requirements.\14\ Finally, the forms give the
applicant the option of providing any other documentation that would be
pertinent to FINRA's review of Standard 3.\15\
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    \13\ See Form NMA, Standard 3 (within the category titled
``Explain how this Standard is met.'') and Form CMA, Standard 3,
Question 2 (within the category titled ``Explain how this Standard
is met.'').
    \14\ See Form NMA, Standard 3 (within the category titled
``Explain how this Standard is met.'') and Form CMA, Standard 3,
Question 2 (within the category titled ``Explain how this Standard
is met.'').
    \15\ See Form NMA, Standard 3, Question 3 (within the category
titled ``Provide supporting documents.'') and Form CMA, Standard 3,
Question 3 (within the category titled ``Provide supporting
documents.'').
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B. Recent Amendments to the MAP Rules
    FINRA has amended the MAP rules to create further incentives for
the timely payment of arbitration awards by preventing an individual
from switching firms, or a firm from using asset transfers or similar
transactions, to avoid payment of arbitration awards.\16\ The
amendments address situations where: (1) A FINRA member firm hires
individuals with pending arbitration claims, where there are concerns
about the payment of those claims should they go to award or result in
a settlement, and the supervision of those individuals; and (2) a
member firm with substantial arbitration claims seeks to avoid payment
of the claims should they go to award or result in a settlement by
shifting its assets, which are typically customer accounts, or its
managers and owners, to another firm and closing down. The amendments
become effective on September 14, 2020.\17\
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    \16\ See supra note 5.
    \17\ See Regulatory Notice 20-15 (May 2020).
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    As a result of the amendments to the MAP rules, FINRA is proposing
to amend Form NMA and Form CMA to: (1) Align the description of
Standard 3 used in the forms with the amended language in Rule
1014(a)(3); (2) align the description of the rebuttable presumption to
deny an application with amended Rules 1014(b)(1) and 1017(i)(1), which
set forth the Standard 3 factors that trigger the presumption to deny
an NMA and CMA, respectively; (3) incorporate into Form NMA relevant
arbitration-related questions that currently appear in Form CMA but not
in Form NMA, to create consistency between the forms; (4) incorporate
into Form NMA arbitration-related documentation options that currently
appear in Form CMA but not in Form NMA to create consistency between
the forms, and amend these options, as applicable, to conform to new
IM-1014-1; and (5) make other non-substantive and technical changes
throughout both standardized forms.
Proposed Amendments to Form NMA and Form CMA
i. Align Description of Standard 3 in Form NMA and Form CMA with
Amended Rule 1014(a)(3)
    Once an application is deemed filed, FINRA evaluates an applicant's
financial, operational, supervisory and compliance systems to ensure
that the applicant meets Standard 3, among other standards. As noted
above, in determining whether an applicant for new or continuing
membership and its associated persons are able to meet Standard 3,
FINRA must consider a variety of factors, such as past and current
disciplinary actions, in making that determination.
    FINRA is proposing to amend Form NMA and Form CMA such that the
language to describe Standard 3 reflects the language in Rule
1014(a)(3), as amended. Specifically, the proposed amendments would
reflect that the specified factors now appear in eight subparagraphs,
rather than six.\18\
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    \18\ See generally subparagraphs (A) through (H) under Rule
1014(a)(3), as amended. The amendments reorganized the factors in
Rule 1014(a)(3), but did not change the factors substantively.
---------------------------------------------------------------------------

ii. Align Description of the Rebuttable Presumption To Deny an
Application in Form NMA and Form CMA With Amended Rules 1014(b)(1) and
1017(i)(1), Respectively
    An applicant for new or continuing membership will trigger a
presumption to deny the application if the applicant or its associated
persons are subject to certain of the factors specified in Standard
3.\19\ As amended, Rule 1014(b)(1) creates a presumption to deny an NMA
where the new member applicant or its associated persons are the
subject of a pending arbitration claim.\20\
---------------------------------------------------------------------------

    \19\ See Rule 1014(b)(1) and Rule 1017(i), which pertain to NMAs
and CMAs, respectively.
    \20\ This presumption of denial for a pending arbitration claim
does not apply to an existing member firm filing a CMA.
---------------------------------------------------------------------------

    Currently, both forms include a description of the presumption to
deny an application, referencing the language in Rule 1014(b)(1) prior
to its amendment.\21\ FINRA is proposing to amend both forms to conform
to amended Rule 1014(b)(1). For Form NMA, FINRA is proposing to amend
the form to reflect the new presumption of denial for an NMA where the
new member applicant or its associated persons are the subject of a
pending arbitration claim, consistent with amended Rule 1014(b)(1).\22\
For Form CMA, FINRA is proposing to amend the form to align with the
amended rule cross-references in Rule 1017(i)(1).\23\
---------------------------------------------------------------------------

    \21\ See Form NMA and Form CMA, Standard 3 (within their
respective categories titled ``Explain how this Standard is met''):
``Pursuant to NASD Rule 1014(b)(1), where the history of the
Applicant or its Associated Persons includes any of the events set
forth in Rule 1014(a)(3)(A) and (C) through (E), there is a
presumption that the Application should be denied. The Applicant may
overcome the presumption of denial by demonstrating that it can meet
each of the standards for admission in NASD Rule 1014(a),
notwithstanding the existence of any of the events set forth in NASD
Rule 1014(a)(3)(A) and (C) through (E). To the extent that any of
the referenced events exist for the Applicant or its Associated
Persons, provide a detailed explanation, in light of the existence
of such events, as to how the Applicant is nonetheless capable of
complying with industry rules, regulations, laws, and observing high
standards of commercial honor and just and equitable principles of
trade. Please reference any controls or systems put in place and
refer to any specific pages or sections in the Applicant's written
supervisory procedures that address heightened supervisory
requirements.*''
    \22\ The proposed change to Form NMA's Standard 3 section would
read: ``Pursuant to FINRA Rule 1014(b)(1), where the history of the
Applicant or its Associated Persons includes any of the events set
forth in Rule 1014(a)(3)(A), (C), (D), (F), (G), and (E) for new
member applications, there is a presumption that the Application
should be denied. The Applicant may overcome the presumption of
denial by demonstrating that it can meet each of the standards for
admission in FINRA Rule 1014(a), notwithstanding the existence of
any of the events set forth in FINRA Rule 1014(a)(3)(A), (C), (D),
(F), (G), and (E) for new member applications. To the extent that
any of the referenced events exist for the Applicant or its
Associated Persons, provide a detailed explanation, in light of the
existence of such events, as to how the Applicant is nonetheless
capable of complying with industry rules, regulations, laws, and
observing high standards of commercial honor and just and equitable
principles of trade. Please reference any controls or systems put in
place and refer to any specific pages or sections in the Applicant's
written supervisory procedures that address heightened supervisory
requirements.* ''
    \23\ The proposed change to Form CMA's Standard 3 section would
read: ``Pursuant to FINRA Rule 1014(b)(1), where the history of the
Applicant or its Associated Persons includes any of the events set
forth in Rule 1014(a)(3)(A), (C), (D), (F), and (G), there is a
presumption that the Application should be denied. The Applicant may
overcome the presumption of denial by demonstrating that it can meet
each of the standards for admission in FINRA Rule 1014(a),
notwithstanding the existence of any of the events set forth in
FINRA Rule 1014(a)(3)(A), (C), (D), (F), and (G). To the extent that
any of the referenced events exist for the Applicant or its
Associated Persons, provide a detailed explanation, in light of the
existence of such events, as to how the Applicant is nonetheless
capable of complying with industry rules, regulations, laws, and
observing high standards of commercial honor and just and equitable
principles of trade. Please reference any controls or systems put in
place and refer to any specific pages or sections in the Applicant's
written supervisory procedures that address heightened supervisory
requirements.*''

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

iii. Incorporate Provisions From Form CMA to Form NMA to Require an
Applicant for New Membership To Explain How Standard 3 is Met
    Form CMA's Standard 3 section contains requirements that FINRA
believes are relevant to new membership applications, but are not
currently included in Form NMA.\24\ Accordingly, FINRA is proposing
amendments that would incorporate these requirements into Form NMA.
---------------------------------------------------------------------------

    \24\ See generally Form CMA, Standard 3, Questions 1 and 2
(within the category titled ``Provide supporting documents'').
---------------------------------------------------------------------------

    Specifically, Form CMA directs the applicant to indicate whether it
or any associated persons have been found to have repeat violations of
the same federal securities laws or regulations, the rules thereunder,
or FINRA rules and if so, to identify the nature of the repetitive
occurrences, the corrective action the applicant has taken to prevent
future violations, and the specific persons with responsibility for
supervision in the areas noted with repeat violations or associated
persons who have been found to have repeat violations.\25\
---------------------------------------------------------------------------

    \25\ See Form CMA, Standard 3, Question 3 (within the category
titled ``Explain how this Standard is met'').
---------------------------------------------------------------------------

    In addition, Form CMA directs the applicant to provide details
regarding any pending arbitration claims or closed or settled
arbitration matters by providing a summary of each claim, including the
amounts claimed for pending matters, the current status, and the amount
of settled matters.\26\ Form CMA directs the applicant to provide a
statement detailing the treatment of unpaid and pending arbitration
claims on the applicant's financial statements, and if pending
arbitration claims are classified as contingent liabilities, the
applicant should explain its method for calculating their amounts on
its financial statements, and if such claims are not disclosed on the
financial statements, an explanation for the nondisclosure.\27\ The
applicant must also promptly update the information provided in the
application regarding pending arbitration claims that are awarded,
settled, or become unpaid before FINRA renders its decision on the
CMA.\28\
---------------------------------------------------------------------------

    \26\ See Form CMA, Standard 3, Question 4.a. (within the
category titled ``Explain how this Standard is met'').
    \27\ See Form CMA, Standard 3, Question 4.b. (within the
category titled ``Explain how this Standard is met'').
    \28\ See supra note 27.
---------------------------------------------------------------------------

    FINRA is proposing to incorporate these requirements into Form NMA,
without substantive modification, but would include some clarifying
language that would also be reflected in Form CMA.\29\ These
requirements should also apply to an applicant for new membership as
they are relevant to whether such applicant is ``capable of complying
with'' applicable federal securities laws and FINRA rules and do not
impose new requirements beyond the scope of Standard 3, as amended. In
addition, incorporating these requirements into Form NMA would be
helpful in providing an applicant for new membership the opportunity to
address, at the outset of the review process, any repetitive
occurrences of violative conduct and arbitration-related matters.
Further, the proposed alignments to Form NMA would improve consistency
between the two forms.
---------------------------------------------------------------------------

    \29\ In the Standard 3 section of Form NMA and Form CMA,
Question 4.b. (within the category ``Explain how this Standard is
met'') would read: ``A statement detailing the treatment of unpaid
and pending arbitration claims on the Applicant's financial
statements. If pending arbitrations are classified as contingent
liabilities, the Applicant should explain its method for calculating
amounts on its financial statements. If pending arbitrations are not
disclosed on the financial statements, explain why they are not
disclosed. Additionally, the Applicant must promptly update
information provided in the Application regarding pending
arbitration claims that are awarded, settled or become unpaid before
the Department renders its decision on the Application. The updates
should include new arbitrations filed, settlements made and awards
granted against the Applicant.*''
---------------------------------------------------------------------------

iv. Incorporate Documentation Options From Form CMA Into Form NMA and
Amend These Options To Align With New IM-1014-1
    Currently, Form NMA and Form CMA provide, within the category
titled, ``Provide supporting documents[,]'' that an applicant may
provide additional documents to evidence its ability to meet Standard
3. This category of the forms is not marked with a red asterisk,
indicating that the applicant is not required to provide documents.\30\
There are more documentation options in Form CMA than in Form NMA due
to the underlying distinction between an application for new membership
and continuing membership. FINRA is proposing to expand Form NMA's
``Provide supporting documents[,]'' category to include documentation
options that mirror those described in Form CMA, where appropriate, and
to modify the documentation options in both forms to align with new IM-
1014-1. With respect to an applicant for new membership, establishing
documentation options in Form NMA that parallel the options in Form CMA
would not impose additional obligations upon such applicant; rather,
incorporating these options into Form NMA would provide an applicant
for new membership with a clear indication of the documentation that
such applicant may choose to prepare to demonstrate that it can meet
Standard 3, as amended. Further, the proposed incorporation of the
documentation options, including the corresponding changes to align
with IM-1014-1, would bring consistency between the forms.
---------------------------------------------------------------------------

    \30\ See supra note 9 and accompanying text.
---------------------------------------------------------------------------

a. Form CMA and Form NMA, Question 1, Providing Supporting Documents
    Form NMA's Question 1 within the category titled ``Provide
supporting documents'' permits an applicant for new membership to
provide copies of any state, federal, or other orders, decrees or
formal actions.\31\ Form CMA's Question 1, within the same category,
however, permits an applicant for continuing membership to provide
documentation of any of the events described in Rule 1014(a)(3), unless
the event has been reported to the CRD system.\32\ FINRA is proposing
to replace the language in Form NMA's Question 1 with the language in
Form CMA's Question 1. The proposed change would make this supporting
documents question in both forms consistent and would help ensure that
the documents provided are more directly relevant to explaining the
events, as applicable, under Rule 1014(a)(3).\33\
---------------------------------------------------------------------------

    \31\ See Form NMA, Standard 3, Question 1 (within the category
titled ``Provide supporting documents'').
    \32\ See Form CMA, Standard 3, Question 1 (within the category
titled ``Provide supporting documents'').
    \33\ The question would read the same as in Form CMA's Question
1, subject to one technical amendment to change the reference from
``NASD'' to ``FINRA.''
---------------------------------------------------------------------------

b. Form CMA and Form NMA, Question 2, Providing Supporting Documents
and New IM-1014-1
    Within the ``Providing Supporting Documents'' category, Form NMA's
Question 2 permits an applicant to provide relevant and supporting
documents, citing as examples statements of claim or settlement
agreements.\34\ Form CMA currently sets forth more detailed
documentation options than Form NMA that an applicant may provide in
support of Standard 3, but these options are framed in the context of
an application that involves a transfer of assets without a
corresponding transfer of associated liabilities, and where there are
pending

arbitration claims or closed or settled arbitration matters. They
include: (1) Evidence that the applicant has satisfied the arbitration
award in full (e.g., copies of front and back of cancelled checks), and
in cases of unpaid awards, the applicant is required to pay the awards
before closing the transaction,\35\ and for matters that have been
settled, a copy of the settlement documentation and evidence that the
settlement payments have been made in full; \36\ (2) an opinion from
counsel and any documentation from the applicant's financial operations
principal, accountant or auditor that support the applicant's treatment
of unpaid and pending arbitration or civil litigation claims; \37\ and
(3) a written ``Arbitration Plan,'' a ``Relationship Statement,'' and a
``Statement of Future Plans.'' \38\
---------------------------------------------------------------------------

    \34\ See Form NMA, Standard 3, Question 2 (within the category
titled ``Provide supporting documents'').
    \35\ See Form CMA, Standard 3, Question 2.a. (within the
category titled ``Provide supporting documents'').
    \36\ See Form CMA, Standard 3, Question 2.b. (within the
category titled ``Provide supporting documents.'').
    \37\ See Form CMA, Standard 3, Question 2.c. (within the
category titled ``Provide supporting documents'').
    \38\ Currently, Form CMA indicates that an Arbitration Plan
should include the expected date for concluding the arbitration, the
method by which the Applicant expects to resolve the arbitrations
(e.g., mediation, settlement, hearing), and the provision that the
Applicant will make for payment of awards (e.g., reserve fund,
retention of proceeds of asset transfer, no provision for payment).
A Relationship Statement should describe the relationship of the
firms involved in the transaction; specifically, whether the firms
are affiliated or have common (direct or indirect) ownership greater
than five percent, and the plans of key personnel or owners to
associate with the acquiring firm. A Statement of Future Plans
should describe the intended use of the proceeds of the transaction
and future plans in the business of the owners and key personnel.
See Form CMA, Standard 3, Question 2.d.i., ii., and iii. (within the
category titled ``Provide supporting documents.'').
---------------------------------------------------------------------------

    New IM-1014-1 expressly provides that an applicant may demonstrate
its ability to satisfy an unpaid arbitration award, other adjudicated
customer award, unpaid arbitration settlement or a pending arbitration
claim, through an escrow agreement, insurance coverage, a clearing
deposit, a guarantee, a reserve fund, or the retention of proceeds from
an asset transfer, or such other forms of documentation that FINRA may
determine to be acceptable. In addition, an applicant may provide a
written opinion of an independent, reputable U.S. licensed counsel
knowledgeable in the area as to the value of the arbitration claims
(which might be zero). IM-1014-1 also provides that to overcome the
presumption to deny the application due to unpaid arbitration awards,
other adjudicated customer awards, unpaid arbitration settlements, or
pending arbitration claims, as applicable, the applicant must guarantee
that any funds used to evidence the applicant's ability to satisfy any
awards, settlements, or claims will be used for that purpose. Any
demonstration by an applicant of its ability to satisfy these
outstanding obligations would be subject to a reasonableness assessment
by FINRA.
    FINRA is proposing to add to Form NMA the more detailed
documentation options set forth in Form CMA, but modify the options in
both forms, as appropriate, to align them with new IM-1014-1.
Specifically, FINRA is proposing to remove the reference to a specific
type of business change in Form CMA (i.e., asset transfer); instead,
Form CMA would direct the applicant to provide additional information
where the applicant or its associated person is subject to unpaid
arbitration awards, other adjudicated customer awards, unpaid
arbitration settlements, or pending arbitration claims. In addition to
incorporating Form CMA's documentation options relating to evidence
that the applicant has satisfied an arbitration award or settlement,
without substantive change, FINRA is proposing to incorporate this
documentation option into Form NMA.\39\
---------------------------------------------------------------------------

    \39\ In the Standard 3 section of Form NMA and Form CMA, the
proposed question stem in Question 2 (within the category ``Provide
supporting documents.'') would read: ``To the extent that the
Applicant or its Associated Person is subject to unpaid arbitration
awards, other adjudicated customer awards, unpaid arbitration
settlements, pending arbitration claims, provide the following:''.
---------------------------------------------------------------------------

    Further, FINRA is proposing to modify the documentation option in
Form CMA to specify that an applicant may provide a written opinion of
counsel from an independent, reputable U.S. licensed counsel
knowledgeable in the value of the arbitration claims and any other
documentation developed by the applicant's financial operations
principal, accountants, or auditors that support the applicant's
treatment of unpaid and pending arbitration or civil litigation claims.
FINRA is proposing to incorporate this documentation option into Form
NMA.\40\
---------------------------------------------------------------------------

    \40\ In the Standard 3 section of Form NMA and Form CMA,
Question 2.c. (within the category ``Provide supporting
documents.'') would read: ``Written opinion(s) of an independent,
reputable U.S. licensed counsel knowledgeable in the value of the
claim(s) and any other documentation developed by the Applicant's
FinOp Principal, accountants, or auditors that support the
Applicant's treatment of unpaid and pending arbitration or civil
litigation claims.''
---------------------------------------------------------------------------

    Finally, FINRA is proposing to modify the Arbitration Plan
requirements in Form CMA to provide that the Arbitration Plan should
include the provision the applicant will make and guarantee for payment
of awards, settlements or claims. In addition, the Arbitration Plan
would include more examples of how an applicant may demonstrate its
ability to satisfy awards, including through an escrow agreement,
insurance coverage, clearing deposit or guarantee. In addition to
incorporating Form CMA's documentation options relating to the
Relationship Statement and Statement of Future Plans, without
substantive change, FINRA is also proposing to incorporate the
Arbitration Plan requirements, as modified, into Form NMA.\41\
---------------------------------------------------------------------------

    \41\ In the Standard 3 section of Form NMA and Form CMA,
Question 2.d.i. (within the category ``Provide supporting
documents.'') would read: ``The Arbitration Plan should include (i)
the expected date for concluding the arbitration, (ii) the method by
which the Applicant expects to resolve the arbitrations (e.g.,
mediation, settlement hearing), and (iii) the provision that the
Applicant will make and guarantee for payment of awards, settlements
or claims (e.g., escrow agreement, insurance coverage, clearing
deposit, guarantee, reserve fund, retention of proceeds of asset
transfer, no provision for payment.'' See also supra note 38.
---------------------------------------------------------------------------

    The proposed changes to Form NMA and Form CMA would conform the
forms to the amendments to the MAP rules. Incorporating the provisions
and documentation options, as modified, from Form CMA to Form NMA would
not impose additional requirements on an applicant for new membership
beyond the scope of the amended MAP rules; instead, the proposed
changes would help the applicant prepare to address, as applicable, the
areas pertaining to meeting Standard 3, as amended. Moreover, the
proposed changes to these standardized forms would make the forms more
consistent as to the documents and information FINRA would need to
determine whether a new or continuing membership applicant would be
able to meet Standard 3, as amended.
v. Amend Form NMA and Form CMA To Make Other Non-Substantive and
Technical Changes to Forms
    In 2019, as part of the process of completing a consolidated FINRA
rulebook, FINRA transferred the remaining legacy NASD rules, without
substantive change, as FINRA rules in the consolidated FINRA rulebook
and the remaining Incorporated NYSE Rules and Incorporated NYSE Rule
Interpretations, without substantive change, in the consolidated FINRA
rulebook as a separate Temporary Dual FINRA-NYSE Member Rules
Series.\42\ The rule references in Form NMA and Form CMA still refer to
NASD rules. FINRA is proposing to amend the forms

to reflect the correct FINRA rule cross-references, and make other
technical changes as appropriate.\43\
---------------------------------------------------------------------------

    \42\ See Securities Exchange Act Release No. 85589 (April 10,
2019), 84 FR 15646 (April 16, 2019) (Notice of Filing and Immediate
Effectiveness of File No. SR-FINRA-2019-009).
    \43\ For example, Form NMA still refers to a $350 processing fee
though the NMA processing fee was increased to $500 in 2012. See
Regulatory Notice 12-32 (June 2012). FINRA is not proposing to
change this $500 fee at this time.
---------------------------------------------------------------------------

    FINRA has filed the proposed rule change for immediate
effectiveness and has requested that the SEC waive the requirement that
the proposed rule change not become operative for 30 days after the
date of the filing, so that FINRA can implement the proposed rule
change on September 14, 2020, consistent with the effective date for
the amendments to the MAP rules.\44\
---------------------------------------------------------------------------

    \44\ See Regulatory Notice 20-15 (May 2020).
---------------------------------------------------------------------------

2. Statutory Basis
    FINRA believes that the proposed rule change is consistent with the
provisions of Section 15A(b)(6) of the Act,\45\ which requires, among
other things, that FINRA rules must be designed to prevent fraudulent
and manipulative acts and practices, to promote just and equitable
principles of trade, and, in general, to protect investors and the
public interest.
---------------------------------------------------------------------------

    \45\ 15 U.S.C. 78o-3(b)(6).
---------------------------------------------------------------------------

    The proposed changes to Form NMA and Form CMA will conform the
forms to the amendments to the MAP rules, as described in File No. SR-
FINRA-2019-030, that are intended to create further incentives for the
timely payment of customer arbitration awards by preventing an
individual from switching firms, or a firm from using asset transfers
or similar transactions, to avoid payment of customer arbitration
awards. The proposed changes to Form NMA and Form CMA will help ensure
that applicants for new and continuing membership provide the
information and documentation to produce a complete application package
for FINRA's review. In addition, the proposed changes to Form NMA and
Form CMA will provide more consistency, where applicable, between the
forms.

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

    FINRA does not believe that the proposed rule change will result in
any burden on competition that is not necessary or appropriate in
furtherance of the purposes of the Act. FINRA's recent amendments to
the MAP rules necessitate conforming changes to the Standard 3 section
of Form NMA and Form CMA to reflect the documents and information that
may be necessary for applicants to demonstrate their ability to meet
Standard 3, as amended. The proposed conforming changes to the forms
effectuate the recent amendments to the MAP rules as described in File
No. SR-FINRA-2019-030. FINRA believes that the proposed conforming
changes to the forms would not result in new material economic effects.
FINRA considered and discussed the potential economic impact of the
recent amendments in File No. SR-FINRA-2019-030, including the burden
imposed on some applicants to address in the application arbitration-
related questions and documentation options.

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

    Written comments were neither solicited nor received.

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

    Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A) of the Act \46\ and Rule 19b-
4(f)(6) thereunder.\47\
---------------------------------------------------------------------------

    \46\ 15 U.S.C. 78s(b)(3)(A).
    \47\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) normally does
not become operative for 30 days after the date of filing. However,
pursuant to Rule 19b-4(f)(6)(iii), the Commission may designate a
shorter time if such action is consistent with the protection of
investors and the public interest. FINRA has asked the Commission to
waive the 30-day operative delay so that the proposed rule change
becomes operative immediately upon filing to help applicants for new
and continuing membership to provide the information and documentation
required by the updated MAP Rules.\48\ As noted above, FINRA stated
that the changes to the Forms CMA and NMA are not new obligations but
rather reflect rules already approved by the Commission, including
those changes designed to harmonize the two forms. FINRA seeks waiver
of the delay so that FINRA can implement the proposed rule change on
September 14, 2020, consistent with the effective date for the
amendments to the MAP rules.\49\ The Commission agrees that the
proposed rule changes would not impose new obligations on broker-
dealers and associated persons but rather are designed to help FINRA
implement rules that the Commission previously approved.\50\ The
Commission believes that waiving the 30-day operative delay would help
eliminate confusion by providing updated forms to reflect current
requirements to firms and associated persons to use starting on the
effective date of the previously approved MAP rules. In addition,
waiving the delay would help FINRA to begin collecting the information
designed to be captured by the new MAP rules starting on their
effective date. For these reasons, the Commission believes that waiver
of the 30-day operative delay is consistent with the protection of
investors and the public interest. Accordingly, the Commission hereby
waives the 30-day operative delay and designates the proposal operative
upon filing.\51\
---------------------------------------------------------------------------

    \48\ See supra note 5.
    \49\ Id.
    \50\ Id.
    \51\ For purposes only of waiving the 30-day operative delay,
the Commission has considered the proposed rule change's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
---------------------------------------------------------------------------

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

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-FINRA-2020-028 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-FINRA-2020-028. 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 a.m. and 3 p.m. Copies of such
filing also will be available for inspection and copying at the
principal office of FINRA. All comments received will be posted without
change. Persons submitting comments are cautioned that we do not redact
or edit personal identifying information from comment submissions. You
should submit only information that you wish to make available
publicly. All submissions should refer to File Number SR-FINRA-2020-028
and should be submitted on or before October 9, 2020.
---------------------------------------------------------------------------

    \52\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\52\
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-20615 Filed 9-17-20; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: June 17, 2008 (Volume 73, Number 117)]
[Notices]
[Page 34291]
[DOCID:fr17jn08-46]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. ID-5737-000]

Volk, Stephen R.; Notice of Filing

June 10, 2008.
    Take notice that on June 6, 2008, Stephen R. Volk filed a notice of
resignation from holding interlocking positions, pursuant to Part 45 of
the regulations of the Commission, 18 CFR Part 45.5.
    Any person desiring to intervene or to protest this filing must
file in accordance with Rules 211 and 214 of the Commission's Rules of
Practice and Procedure (18 CFR 385.211, 385.214). Protests will be
considered by the Commission in determining the appropriate action to
be taken, but will not serve to make protestants parties to the
proceeding. Any person wishing to become a party must file a notice of
intervention or motion to intervene, as appropriate. Such notices,
motions, or protests must be filed on or before the comment date. On or
before the comment date, it is not necessary to serve motions to
intervene or protests on persons other than the Applicant.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper using the ``eFiling'' link at http://
www.ferc.gov. Persons unable to file electronically should submit an
original and 14 copies of the protest or intervention to the Federal
Energy Regulatory Commission, 888 First Street, NE., Washington, DC
20426.
    This filing is accessible on-line at http://www.ferc.gov, using the
``eLibrary'' link and is available for review in the Commission's
Public Reference Room in Washington, DC. There is an ``eSubscription''
link on the Web site that enables subscribers to receive e-mail
notification when a document is added to a subscribed docket(s). For
assistance with any FERC Online service, please e-mail
<EMAIL_ADDRESS>or call<PHONE_NUMBER> (toll free). For
TTY, call<PHONE_NUMBER>.
    Comment Date: 5 p.m. Eastern Time on June 26, 2008.

Kimberly D. Bose,
Secretary.
 [FR Doc. E8-13535 Filed 6-16-08; 8:45 am]

BILLING CODE 6717-01-P


[Federal Register Volume 78, Number 35 (Thursday, February 21, 2013)]
[Proposed Rules]
[Page 12005]
[FR Doc No: 2013-04003]

=======================================================================
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ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 80

[EPA-HQ-OAR-2012-0546; FRL-9784-4]
RIN 2060-AR43

Regulation of Fuels and Fuel Additives: 2013 Renewable Fuel
Standards; Public Hearing

AGENCY: Environmental Protection Agency (EPA).

ACTION: Announcement of public hearing and extension of comment period.

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SUMMARY: The EPA is announcing a public hearing to be held for the
proposed rule ``Regulation of Fuels and Fuel Additives: 2013 Renewable
Fuel Standards,'' which was published separately in the Federal
Register on February 7, 2013. (78 FR 9282.) The hearing will be held in
Ann Arbor, Michigan on March 8, 2013. EPA is also extending the comment
period on the proposed rule to April 7, 2013. The proposed rule would
amend the renewable fuel standard program regulations to establish
annual percentage standards for cellulosic biofuel, biomass-based
diesel, advanced biofuel, and renewable fuels that would apply to all
gasoline and diesel produced in the U.S. or imported in the year 2013.
The proposal is based in part on EPA's proposed projection of
cellulosic biofuel production in 2013, and its proposed determination
that the applicable volumes of advanced biofuel and total renewable
fuel specified in the statute should not be modified in 2013.

DATES: The public hearing will be held on March 8, 2013 at the location
noted below under ADDRESSES. The hearing will begin at 9 a.m. and end
when all parties present who wish to speak have had an opportunity to
do so. Parties wishing to testify at the hearing should notify the
contact person listed under FOR FURTHER INFORMATION CONTACT by March 1,
2013. Additional information regarding the hearing appears below under
SUPPLEMENTARY INFORMATION.

ADDRESSES: The hearing will be held at the following location: National
Vehicle and Fuel Emissions Laboratory, 2000 Traverwood, Ann Arbor,
Michigan 48105. A complete set of documents related to the proposal is
available for public inspection at the EPA Docket Center, located at
1301 Constitution Avenue NW., Room 3334, Washington, DC between 8:30
a.m. and 4:30 p.m., Monday through Friday, excluding legal holidays. A
reasonable fee may be charged for copying. Documents are also available
through the electronic docket system at http://www.regulations.gov.
(Docket ID No. EPA-HQ-OAR-2012- 0546.)

FOR FURTHER INFORMATION CONTACT: Julia MacAllister, Office of
Transportation and Air Quality, Assessment and Standards Division,
Environmental Protection Agency, 2000 Traverwood Drive, Ann Arbor, MI
48105; telephone number:<PHONE_NUMBER>; Fax number:<PHONE_NUMBER>;
Email address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: The proposal for which EPA is holding the
public hearing has been published separately in the Federal Register at
78 FR 9282, February 7, 2013.
    Public Hearing: The public hearing will provide interested parties
the opportunity to present data, views, or arguments concerning the
proposal (which can be found at http://www.epa.gov/otaq/fuels/renewablefuels/index.htm). The EPA may ask clarifying questions during
the oral presentations but will not respond to the presentations at
that time. Written statements and supporting information submitted
during the comment period will be considered with the same weight as
any oral comments and supporting information presented at the public
hearing. Written comments must be received by the last day of the
comment period.
    The public hearing will be held on March 8, 2013 at the location
noted under ADDRESSES, and will begin at 9 a.m. and end when all
parties present who wish to speak have had an opportunity to do so.
Those wishing to testify at the public hearing should register in
advance by notifying the contact person listed under FOR FURTHER
INFORMATION CONTACT by March 1, 2013 and copies of written statements
will be included in the rulemaking docket.
    In the NPRM, we established the deadline for comments as March 25,
2013. Because EPA is required to provide no less than 30 days for
comments after the date of the hearing, we are extending the end of the
comment period to April 7, 2013.

How can I get copies of this document, the proposed rule, and other
related information?

    The EPA has established a docket for this action under Docket ID
No. EPA- HQ-OAR-2012-0546. The EPA has also developed a Web site for
the RFS program, including the notice of proposed rulemaking, at the
address given above. Please refer to the notice of proposed rulemaking
for detailed information on accessing information related to the
proposal.

    Dated: February 15, 2013.
Christopher Grundler,
Director, Office of Transportation and Air Quality, Office of Air and
Radiation.
[FR Doc. 2013-04003 Filed 2-20-13; 8:45 am]
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[Federal Register Volume 79, Number 236 (Tuesday, December 9, 2014)]
[Rules and Regulations]
[Pages 72984-72985]
[FR Doc No: 2014-28824]

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ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 766

[EPA-HQ-OPPT-2014-0261; FRL-9919-05]

Decision on Request for Waiver From Testing

AGENCY: Environmental Protection Agency (EPA).

ACTION: Decision on request for waiver from testing.

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SUMMARY: EPA denied a request from Nation Ford Chemical (NFC) for a
waiver from testing chloranil (2,3,5,6-tetrachloro-2,5-cyclohexadiene-
1,4-dione). Regulations issued by EPA under the Toxic Substances
Control Act (TSCA) require that specified chemical substances be tested
to determine if they are contaminated with halogenated dibenzo-p-
dioxins (HDDs) or halogenated dibenzofurans (HDFs), and that results be
reported to EPA. However, the regulations allow for exclusion or waiver
from these requirements if an appropriate application is submitted to
EPA and is approved. EPA received a request for a waiver from these
testing requirements from NFC.

DATES: EPA denied the NFC waiver on October 17, 2014.

ADDRESSES: The docket for this action, identified by docket
identification (ID) number EPA-HQ-OPPT-2014-0261, is available at
http://www.regulations.gov or at the Office of Pollution Prevention and
Toxics Docket (OPPT Docket), Environmental Protection Agency Docket
Center (EPA/DC), West William Jefferson Clinton Bldg., Rm. 3334, 1301
Constitution Ave. NW., Washington, DC. The Public Reading Room is open
from 8:30 a.m. to 4:30 p.m., Monday through Friday, excluding legal
holidays. The telephone number for the Public Reading Room is (202)
566-1744, and the telephone number for the OPPT Docket is (202) 566-
0280. Please review the visitor instructions and additional information
about the docket available at http://www.epa.gov/dockets.

FOR FURTHER INFORMATION CONTACT: For technical information contact:
Hiroshi Dodahara, National Program Chemicals Division (7404T), Office
Pollution Prevention and Toxics, Environmental Protection Agency, 1200
Pennsylvania Ave. NW., Washington, DC 20460-0001; telephone number:
(202) 566-0507; email address<EMAIL_ADDRESS>    For general information contact: The TSCA-Hotline, ABVI-Goodwill,
422 South Clinton Ave., Rochester, NY 14620; telephone number: (202)
554-1404; email address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. Does this action apply to me?

    This action is directed to the public in general. As such, the
Agency has not attempted to describe the specific entities to which
this action may apply. Although others may be affected, this action
applies directly to the submitter of the request for waiver. If you
have any questions regarding the applicability of this action to a
particular entity, consult the technical person listed under FOR
FURTHER INFORMATION CONTACT.

II. Background

A. What action is the Agency taking?

    This document announces the denial of the request from NFC for a
waiver from testing under 40 CFR 766.32(a)(2)(ii) for chloranil
(2,3,5,6-tetrachloro-2,5-cyclohexadiene-1,4-dione; Chemical Abstracts
Service Registry Number (CASRN) 118-75-2).

B. What is the Agency's authority for taking this action?

    This document is issued under sections 4 and 8 of TSCA (15 U.S.C.
2603 and 2607).
    Under 40 CFR part 766, EPA requires testing of certain chemical
substances to determine whether they may be contaminated with HDDs and
HDFs. Under 40 CFR 766.32(a)(2)(ii), a waiver may be granted if, in the
judgment of EPA, the cost of testing would drive the chemical substance
off the market, or prevent resumption of manufacture or import of the
chemical substance, if it is not currently manufactured, and the
chemical substance will be produced so that no unreasonable risk will
occur due to its manufacture, import, processing, distribution, use, or
disposal. In this case, the manufacturer must submit to

EPA all data supporting the determination.
    Under 40 CFR 766.32(b), any request for a waiver must be made 60
days before resumption of manufacture or importation of a chemical
substance not being manufactured, imported, or processed as of June 5,
1987.

C. NFC Request for Waiver From Testing and Reporting Requirements

    EPA received submissions from NFC dated March 18, 2014 (Refs. 1 and
2), May 16, 2014 (Ref. 3), and August 7, 2014 (Ref. 4), which
collectively requested that NFC be granted a waiver from the testing
and reporting requirements of the ``Polyhalogenated Dibenzo-p-Dioxins/
Dibenzofurans; Testing and Reporting Requirements'' (Dioxins/Furans
Test Rule) 40 CFR part 766 for the import of chloranil. EPA published a
notice of receipt of the waiver request and requested public comment in
the Federal Register on June 17, 2014 (Ref. 5); the Agency received no
public comments. The waiver request indicates that NFC intends to
import chloranil, a chemical substance subject to testing under 40 CFR
part 766, for the manufacture of a crude pigment. EPA determined that
the information provided by NFC was insufficient to establish that any
adverse economic impact from testing would likely be large enough to
``drive the chemical substance off the market, or prevent resumption of
manufacture or import of the chemical substance'' (Ref. 6). EPA
therefore denied NFC's waiver request (Ref. 7).

III. References

    The following is a listing of the documents that are specifically
referenced in this document. The docket includes these documents and
other information considered by EPA, including documents that are
referenced within the documents that are included in the docket, even
if the referenced document is not physically located in the docket. For
assistance in locating these other documents, please consult the
technical person listed under FOR FURTHER INFORMATION CONTACT.

1. NFC. Letter from Phillip McCarter to Wendy Cleland-Hamnett, EPA/
OPPT. March 18, 2014 (Received by EPA on March 27, 2014).
2. NFC. Technical Correction to Letter from Phillip McCarter to Wendy
Cleland-Hamnett, EPA/OPPT. March 18, 2014 (Received by EPA on April 2,
2014).
3. NFC. Letter from Phillip McCarter to Tanya Hodge Mottley EPA/OPPT.
May 16, 2014 (Received by EPA on May 21, 2014).
4. NFC. Letter from Phillip McCarter to Wendy Cleland-Hamnett, EPA/
OPPT. August 7, 2014 (Received by EPA on August 8, 2014).
5. Receipt of Request for Waiver from Testing; Proposed Rule. Federal
Register (79 FR 34484, June 17, 2014) (FRL-9911-88).
6. EPA. Nation Ford Chemical Waiver Petition for Dioxin/Furan Test Rule
Regarding Import of Chloranil--Economic Assessment (contains no
confidential business information). October 9, 2014.
7. EPA. Letter from Wendy Cleland-Hamnett, EPA/OPPT, to Phillip
McCarter, NFC. October 17, 2014.

IV. Congressional Review Act (CRA)

    The Congressional Review Act (5 U.S.C. 801 et seq.), does not apply
because this action is not a rule, for purposes of 5 U.S.C. 804(3).

List of Subjects in 40 CFR Part 766

    Environmental protection, Chloranil, Dibenzofurans, Dioxins,
Hazardous substances.

    Dated: December 1, 2014.
Wendy C. Hamnett,
Director, Office of Pollution Prevention and Toxics.
[FR Doc. 2014-28824 Filed 12-8-14; 8:45 am]
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