[Federal Register Volume 82, Number 134 (Friday, July 14, 2017)]
[Proposed Rules]
[Pages 32494-32496]
[FR Doc No: 2017-14546]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. FAA-2017-0504; Directorate Identifier 2017-NE-12-AD]
RIN 2120-AA64

Airworthiness Directives; GEVEN S.p.A., Seat Assemblies, Type D1-
02 and D1-03

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice of proposed rulemaking (NPRM).

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SUMMARY: We propose to adopt a new airworthiness directive (AD) for
certain Geven S.p.A., Type D1-02 and D1-03 seat assemblies. This
proposed AD was prompted by a report that seat belt attachment bolts
were found detached or partially detached from the seat. This proposed
AD would require inspection, torque verification, and modification of
certain model seats. We are proposing this AD to correct the unsafe
condition on these products.

DATES: We must receive comments on this NPRM by August 28, 2017.

ADDRESSES: You may send comments by any of the following methods:
     Federal eRulemaking Portal: Go to http://www.regulations.gov. Follow the instructions for submitting comments.
     Mail: Docket Management Facility, U.S. Department of
Transportation, 1200 New Jersey Avenue SE., West Building, Ground
Floor, Room W12-140, Washington, DC 20590-0001.
     Hand Delivery: Deliver to Mail address above between 9
a.m. and 5 p.m., Monday through Friday, except Federal holidays.
     Fax:<PHONE_NUMBER>.
    For service information identified in this NPRM, contact Geven
Technical Assistance Department, Via Boscofangone, Zona Industriale
Nola-Marigliano, 80035 Nola (NA), Italy; phone: +39 081 31 21 396; fax:
+39 081 31 21 321; email<EMAIL_ADDRESS>You may view
this service information at the FAA, Engine & Propeller Directorate,
1200 District Avenue, Burlington, MA. For information on the
availability of this material at the FAA, call<PHONE_NUMBER>.

Examining the AD Docket

    You may examine the AD docket on the Internet at http://www.regulations.gov by searching for and locating Docket No. FAA-2017-
0504; or in person at the Docket Operations office between 9 a.m. and 5
p.m., Monday through Friday, except Federal holidays. The AD docket
contains this proposed AD, the mandatory continuing airworthiness
information (MCAI), the regulatory evaluation, any comments received,
and other information. The address for the Docket Office (phone: 800-
647-5527) is in the ADDRESSES section. Comments will be available in
the AD docket shortly after receipt.

FOR FURTHER INFORMATION CONTACT: Neil Doh, Aerospace Engineer, Boston
Aircraft Certification Office, FAA, Engine & Propeller Directorate,
1200 District Avenue, Burlington, MA 01803; phone:<PHONE_NUMBER>; fax:
781-238-7199; email<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

Comments Invited

    We invite you to send any written relevant data, views, or
arguments about this proposed AD. Send your comments to an address
listed under the ADDRESSES section. Include ``Docket No. FAA-2017-0504;
Directorate Identifier 2017-NE-12-AD'' at the beginning of your
comments. We specifically invite comments on the overall regulatory,
economic, environmental, and energy aspects of this proposed AD. We
will consider all comments received by the closing date and may amend
this proposed AD because of those comments.
    We will post all comments we receive, without change, to http://www.regulations.gov, including any personal information you provide. We
will also post a report summarizing each substantive verbal contact
with FAA personnel concerning this proposed AD.

Discussion

    The European Aviation Safety Agency (EASA), which is the Technical
Agent for the Member States of the European Community, has issued EASA
AD 2014-0187, dated August 20, 2014 (referred to hereinafter as ``the
MCAI''), to correct an unsafe condition for the specified products. The
MCAI states:

    An operator reported that seat belt attachment bolts were found
detached or partially detached from the seat. A further check on
several aeroplanes revealed that on a large number of seats of the
same model, the seat belt attachment bolts were not properly torqued
and secured as defined. This condition, if not detected and
corrected, could lead to failure of the seats to perform their
intended function, possibly resulting in injury to occupants in case
of an emergency landing. To address this potential unsafe condition,
Geven published SB No. D103-25-004 to provide inspection
instructions to verify if the seat belt attachment bolts are
properly torqued and secured, and correction of any deficiencies. In
addition, for certain D1-03 seats, the SB provides instructions to
modify the seat belt attachment assembly. For the reasons described
above, this AD requires a one-time inspection of all safety belt
attachment bolts and, depending on findings, accomplishment of the
applicable corrective action(s). This AD also requires modification
of the seat belt attachment assembly on certain D1-03 seats.

    You may obtain further information by examining the MCAI in the AD
docket on the Internet at http://www.regulations.gov by searching for
and locating Docket No. FAA-2017-0504.

Related Service Information Under 1 CFR Part 51

    Geven S.p.A. has issued Service Bulletin (SB) No. D103-25-004,
Revision 4, dated March 15, 2016. The SB describes procedures for
inspection, torque verification, and modification of certain model
seats known to be installed on ATR 42 and ATR 72 airplanes. This
service information is reasonably available because the interested
parties have access to it through their normal course of business or by
the means identified in the ADDRESSES section.

FAA's Determination and Requirements of This Proposed AD

    This product has been approved by the aviation authority of Italy,
and is approved for operation in the United States. Pursuant to our
bilateral agreement with the European Community, EASA has notified us
of the unsafe condition described in the MCAI and service information
referenced above. We are proposing this AD because we evaluated all
information provided by EASA and determined the unsafe condition exists
and is likely to exist or develop on other products of the same type
design. This proposed AD would require inspection, torque verification
and modification of certain model seats.

Costs of Compliance

    We estimate that this proposed AD affects an unknown number of seat
assemblies installed on, but not limited to, 38 ATR 42 and ATR 72
airplanes of U.S. registry.
    We estimate the following costs to comply with this proposed AD:

                                                 Estimated Costs
----------------------------------------------------------------------------------------------------------------
                                                                                Cost per      Cost on U.S.
               Action                         Labor cost            Parts cost        product        operators
----------------------------------------------------------------------------------------------------------------
Seat modification ATR 42...........  1.5 work-hours x $85 per               $302         $429.50      $10,737.50
                                      hour = $127.50.
Torque check ATR 42................  0.8 work-hours x $85 per                  0           68.00        1,700.00
                                      hour = $68.00.
Seat modification ATR 72...........  2.3 work-hours x $85 per                368          563.50        7,325.50
                                      hour = $195.50.
Seat remove and replace ATR 72.....  1.2 work-hours x $85 per                  0          102.00        1,326.00
                                      hour = $102.00.
----------------------------------------------------------------------------------------------------------------

    According to the manufacturer, some of the costs of this proposed
AD may be covered under warranty, thereby reducing the cost impact on
affected individuals. We do not control warranty coverage for affected
individuals. As a result, we have included all costs in our cost
estimate.

Authority for This Rulemaking

    Title 49 of the United States Code specifies the FAA's authority to
issue rules on aviation safety. Subtitle I, section 106, describes the
authority of the FAA Administrator. ``Subtitle VII: Aviation
Programs,'' describes in more detail the scope of the Agency's
authority.
    We are issuing this rulemaking under the authority described in
``Subtitle VII, Part A, Subpart III, Section 44701: General
requirements.'' Under that section, Congress charges the FAA with
promoting safe flight of civil aircraft in air commerce by prescribing
regulations for practices, methods, and procedures the Administrator
finds necessary for safety in air commerce. This regulation is within
the scope of that authority because it addresses an unsafe condition
that is likely to exist or develop on products identified in this
rulemaking action.

Regulatory Findings

    We determined that this proposed AD would not have federalism
implications under Executive Order 13132. This proposed AD would not
have 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.
    For the reasons discussed above, I certify this proposed
regulation:
    (1) Is not a ``significant regulatory action'' under Executive
Order 12866,
    (2) Is not a ``significant rule'' under the DOT Regulatory Policies
and Procedures (44 FR 11034, February 26, 1979),
    (3) Will not affect intrastate aviation in Alaska to the extent
that it justifies making a regulatory distinction, and
    (4) Will not have a significant economic impact, positive or
negative, on a substantial number of small entities under the criteria
of the Regulatory Flexibility Act.

List of Subjects in 14 CFR Part 39

    Air transportation, Aircraft, Aviation safety, Incorporation by
reference, Safety.

The Proposed Amendment

    Accordingly, under the authority delegated to me by the
Administrator, the FAA proposes to amend 14 CFR part 39 as follows:

PART 39--AIRWORTHINESS DIRECTIVES

0
1. The authority citation for part 39 continues to read as follows:

    Authority: 49 U.S.C. 106(g), 40113, 44701.

Sec.  39.13   [Amended]

0
2. The FAA amends Sec.  39.13 by adding the following new airworthiness
directive (AD):

GEVEN S.p.A.: Docket No. FAA-2017-0504; Directorate Identifier 2017-
NE-12-AD.

(a) Comments Due Date

    We must receive comments by August 28, 2017.

(b) Affected ADs

    None.

(c) Applicability

    This AD applies to all GEVEN S.p.A. (Geven) Type D1-02 and D1-03
(also known as ``Lightweight Classic'' and ``Lightweight Prestige'')
seats, with part numbers (P/Ns) and Effectivity Codes listed in
Table 1.1.1 of Geven Service Bulletin (SB) No. D103-25-004, Revision
4, dated March 15, 2016.
    These appliances are installed on, but not limited to, ATR 42
and ATR 72 airplanes of U.S. registry.

(d) Subject

    Joint Aircraft System Component (JASC) 2500 Code, Cabin
Equipment/Furnishings.

(e) Reason

    This AD was prompted by a report that seat belt attachment bolts
were found detached or partially detached from the seat. We are
issuing this AD to prevent failure of the seats.

(f) Compliance

    Comply with this AD within the compliance times specified,
unless already done.
    (1) For all Geven Type D1-02 and D1-03 (also known as
``Lightweight Classic'' and ``Lightweight Prestige'') in-arm table,
standard, and last row seats, P/N D1-02-( )( )( )-( )( )( ), and P/N
D1-03-( )( )( )-( )( )( ), within 6 months after the effective date
of this AD, modify the safety belt attachment assemblies on the
aisle side spreader, and torque check the safety belt attachment
assemblies on the central and fuselage side spreaders to 71 in-lbs
(8 nm)

using Geven SB No. D103-25-004, Revision 4, dated March 15, 2016,
and
    (2) For all Geven Type D1-02 and D1-03 (also known as
``Lightweight Classic'' and ``Lightweight Prestige'') aft facing
seats, P/N D1-02-( )( )( )-( )( )( ), and P/N D1-03-( )( )( )-( )(
)( ), within 6 months after the effective date of this AD, torque
check the seat belt attachment assemblies on the aisle side,
central, and fuselage side spreaders to 71 in-lbs using Geven SB No.
D103-25-004, Revision 4, dated March 15, 2016, and
    (3) Within 6 months after the effective date of this AD, verify
that the safety belt attachment is free to rotate. If it is not free
to rotate, replace the bushing in accordance with paragraph 3.3.1 of
Geven SB No. D103-25-004, Revision 4, dated March 15, 2016, or
    (4) Within 6 months after the effective date of this AD, block
each affected seat to prevent use of each affected seat until
paragraphs (f)(1), (2), and (3) of this AD are accomplished.

(g) Credit for Previous Actions

    You may take credit for the inspections, torque verifications,
and modifications that are required by paragraphs (f)(1), (2), and
(3) of this AD if you performed those actions before the effective
date of this AD using Geven SB No. D103-25-004, Revision 4, dated
March 15, 2016.

(h) Alternative Methods of Compliance (AMOCs)

    The Manager, Boston Aircraft Certification Office, FAA, may
approve AMOCs for this AD. Use the procedures found in 14 CFR 39.19
to make your request.

(i) Related Information

    (1) For more information about this AD, contact Neil Doh,
Aerospace Engineer, Boston Aircraft Certification Office, FAA,
Engine & Propeller Directorate, 1200 District Avenue, Burlington, MA
01803; phone:<PHONE_NUMBER>; fax:<PHONE_NUMBER>; email:
<EMAIL_ADDRESS>    (2) Refer to MCAI EASA AD 2014-0187, dated August 20, 2014, for
more information. You may examine the MCAI in the AD docket on the
Internet at http://www.regulations.gov by searching for and locating
it in Docket No. FAA-2017-0504.
    (3) Geven SB No. D103-25-004, Revision 4, dated March 15, 2016
can be obtained from Geven Technical Assistance Department, using
the contact information in paragraph (i)(4) of this proposed AD.
    (4) For service information identified in this proposed AD,
contact Geven Technical Assistance Department, Via Boscofangone,
Zona Industriale Nola-Marigliano, 80035 Nola (NA), Italy; phone: +39
081 31 21 396; fax: +39 081 31 21 321; email:
<EMAIL_ADDRESS>    (5) You may view this service information at the FAA, Engine &
Propeller Directorate, 1200 District Avenue, Burlington, MA. For
information on the availability of this material at the FAA, call
781-238-7125.

    Issued in Burlington, Massachusetts, on July 6, 2017.
Robert J. Ganley,
Acting Manager, Engine & Propeller Directorate, Aircraft Certification
Service.
[FR Doc. 2017-14546 Filed 7-13-17; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 87, Number 89 (Monday, May 9, 2022)]
[Notices]
[Pages 27669-27670]
[FR Doc No: 2022-09852]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-94835; File No. SR-NYSE-2021-44]

Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Withdrawal of Proposed Rule Change To Amend NYSE Rules 7.31,
7.35, 7.35B, 7.35C, 98, and 104 Relating to the Closing Auction

May 3, 2022.
    On September 3, 2021, New York Stock Exchange LLC (``Exchange'')
filed with the Securities and Exchange Commission (``Commission'')
pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ a proposed rule change to
amend Exchange Rules 7.31 (Orders and Modifiers), 7.35 (General), 7.35B
(DMM-Facilitated Closing Auctions), 7.35C (Exchange-Facilitated
Auctions), 98 (Operation of a DMM Unit), and 104 (Dealings and
Responsibilities of DMMs) relating to the Closing Auction. The proposed
rule change was published for comment in the Federal Register on
September 22, 2021.\3\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 93037 (Sept. 16,
2021), 86 FR 52719 (Sept. 22, 2021) (SR-NYSE-2021-44).
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    On November 1, 2021, pursuant to Section 19(b)(2) of the Act,\4\
the Commission extended the time period within which to approve the
proposed rule change, disapprove the proposed rule change, or institute
proceedings to

determine whether to approve or disapprove the proposed rule change to
December 21, 2021.\5\ On December 17, 2021, the Commission instituted
proceedings under Section 19(b)(2)(B) of the Act \6\ to determine
whether to approve or disapprove the proposed rule change.\7\ On March
17, 2022, the Commission extended the time for Commission action on
proceedings to approve or disapprove the proposed rule change to May
20, 2022.\8\ The Commission received two comment letters on the
proposal.\9\
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    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 93488 (Nov. 1,
2021), 86 FR 61352 (Nov. 5, 2021).
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 93809 (Dec. 17,
2021), 86 FR 73060 (Dec. 23, 2021).
    \8\ See Securities Exchange Act Release No. 94457 (Mar. 17,
2022), 87 FR 16539 (Mar. 23, 2022).
    \9\ See Anonymous Letter (Sept. 27, 2021); Letter from Richard
Grant, General Counsel, GTS Securities LLC, to J. Matthew
DeLesDernier, Assistant Secretary, Commission (Mar. 16, 2022). The
comments received are available at https://www.sec.gov/comments/sr-nyse-2021-44/srnyse202144.htm.
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    On April 26, 2022, the Exchange withdrew the proposed rule change
(File No. SR-NYSE-2021-44).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
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    \10\ 17 CFR 200.30-3(a)(12).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-09852 Filed 5-6-22; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 87, Number 68 (Friday, April 8, 2022)]
[Rules and Regulations]
[Pages 20715-20719]
[FR Doc No: 2022-07346]

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ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 52

[EPA-R05-OAR-2017-0583; EPA-R05-OAR-2019-0311; EPA-R05-OAR-2020-0501;
FRL-9056-04-R5]

Air Plan Approval; Illinois; Infrastructure SIP Requirements for
the 2012 PM2.5 and 2015 Ozone NAAQS

AGENCY: Environmental Protection Agency (EPA).

ACTION: Final rule.

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SUMMARY: The Environmental Protection Agency (EPA) is approving
elements of a State Implementation Plan (SIP) revision submitted by the
State of Illinois regarding the infrastructure requirements of section
110 of the Clean Air Act (CAA) for the 2012 annual fine particulate
matter (PM2.5) and 2015 ozone National Ambient Air Quality
Standards (NAAQS). Further, EPA is approving the infrastructure
requirements related to Prevention of Significant Deterioration (PSD)
for previous NAAQS. The infrastructure requirements are designed to
ensure that the structural components of each state's air quality
management program are adequate to meet the state's responsibilities
under the CAA. EPA received comments on its September 29, 2021,
proposed rule and withdrew the accompanying Direct Final Rule (DFR).
After considering the comments, EPA is approving the revisions to the
Illinois SIP as requested by the State on September 29, 2017, May 16,
2019, and September 22, 2020.

DATES:  This final rule is effective on May 9, 2022.

ADDRESSES: EPA has established dockets for this action under Docket ID
No. EPA-R05-OAR-2017-0583 (for PM2.5), EPA-R05-OAR-2019-0311
(for ozone), and EPA-R05-OAR-2020-0501 (for PSD) at https://www.regulations.gov. Although listed in the index, some information is
not publicly available, i.e., Confidential Business Information (CBI)
or other information whose disclosure is restricted by statute. Certain
other material, such as copyrighted material, is not placed on the
internet and will be publicly available only in hard copy form.
Publicly available docket materials are available either through
www.regulations.gov or at the Environmental Protection Agency, Region
5, Air and Radiation Division, 77 West Jackson Boulevard, Chicago,
Illinois 60604. This facility is open from 8:30 a.m. to 4:30 p.m.,
Monday through Friday, excluding Federal holidays and facility closures
due to COVID-19. We recommend that you telephone Olivia Davidson,
Environmental Scientist, at<PHONE_NUMBER> before visiting the Region 5
office.

FOR FURTHER INFORMATION CONTACT: Olivia Davidson, Environmental
Scientist, Attainment Planning and Maintenance Section, Air Programs
Branch (AR18J), Environmental Protection Agency, Region 5, 77 West
Jackson Boulevard, Chicago, Illinois 60604,<PHONE_NUMBER>,
[email protected].

SUPPLEMENTARY INFORMATION: Throughout this document whenever ``we,''
``us,'' or ``our'' is used, we mean EPA.

I. Background

    On September 29, 2021 (86 FR 53872), EPA published a DFR approving
elements of infrastructure SIP revisions submitted by the Illinois
Environmental Protection Agency (IEPA) on September 29, 2017, May 16,
2019, and September 22, 2020, to address the infrastructure
requirements of CAA sections 110(a)(1) and (2) for the 2012
PM2.5 and 2015 ozone NAAQS, respectively. In the DFR, EPA
also approved the infrastructure requirements related to Prevention of
Significant Deterioration (PSD) \1\ for 1997 ozone, 1997
PM2.5, 2006 PM2.5, 2008 ozone, 2008 lead, 2010
Nitrogen Dioxide (NO2), and 2010 Sulfur Dioxide
(SO2) NAAQS. An explanation of the CAA requirements, a
detailed analysis of the SIP submission, and EPA's reasons for
proposing approval were provided in the DFR and will not be restated
here.
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    \1\ Previously, PSD permits in Illinois have been issued under a
Federal Implementation Plan (FIP). Since April 7, 1980, IEPA has
issued PSD permits under a delegation agreement with EPA that
authorizes IEPA to implement the FIP (January 29, 1981, 46 FR 9580).
Under a November 16, 1981 amendment to the 1980 Delegation
Agreement, IEPA also had the authority to amend or revise any PSD
permit issued by EPA under the FIP. See 86 FR 22372, 22373 (April
28, 2021). On September 22, 2020, IEPA submitted to EPA a request to
revise the Illinois SIP to establish a SIP-approved PSD program in
Illinois, which was approved on September 9, 2021 (86 FR 50459), and
addressed comments received during EPA's public comment period.
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    In the DFR, EPA stated that if adverse comments were received by
October 29, 2021, the rule would be withdrawn and not take effect. On
October 27, 2021, EPA received one set of adverse comments and, as a
result, revised its regulations on January 18, 2022 (87 FR 2554),
because EPA was unable to withdraw the DFR before it took effect. EPA
is addressing the comments in this final action based upon the notice
of proposed rulemaking (NPRM) also published on September 29, 2021. See
86 FR 53915.

II. EPA's Response to Comments

    A summary of the comments, and EPA's response, is provided below.
    Comment: The commenters state that EPA should not have used a DFR
for this action because EPA did not have good cause under 5 U.S.C. to
forgo normal notice-and-comment procedures (i.e., publishing an NPRM
and accepting comments 30 days before the rule's effective date),
because EPA allegedly did not find that compliance with the 30-day
requirement was either ``impracticable, unnecessary, or contrary to the
public interest,'' nor did EPA incorporate such a finding ``and a brief
statement of the reasons therefor'' in the DFR. 5 U.S.C. 553(b)(B). In
the DFR, EPA stated that this action was a ``noncontroversial
amendment'' to the existing Illinois SIP and that it anticipated no
adverse comments. The commenters argue that these statements fail to
satisfy the good cause exemption under 5 U.S.C. 553. The commenters
assert that infrastructure SIP actions, even when the public fails to
comment, are not necessarily ``noncontroversial,'' because such actions
involve detailed reviews and have been subject to litigation. For this
reason, the commenters argue EPA should never use DFRs to approve an
infrastructure SIP submission. The commenters encourage EPA to commence
a separate rulemaking to govern its use of DFRs.
    Response: EPA disagrees that it was inappropriate to use a DFR for
this infrastructure SIP action. Since September 1981, EPA has used DFRs
for SIP actions that are noncontroversial and where it reasonably
expects no adverse public comments.\2\ These

actions have included approvals of infrastructure SIP submittals.\3\
EPA's current procedure for these types of actions, as described in the
DFR,\4\ has been to publish a DFR for the SIP action and at the same
time commence a conventional rulemaking proceeding for the same rule by
publishing a NPRM.\5\ If EPA receives adverse comments within 30 days
after publishing the DFR, it withdraws the DFR by publishing a
withdrawal action in the Federal Register; the substance of the DFR
then serves as the detailed basis for the NPRM, and EPA addresses the
adverse comments in the final rule. EPA believes this approach ``can
save time and resources while maintaining the public's right to
comment.'' \6\
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    \2\ See 46 FR 44476, 44477 (Sept. 4, 1981) (``Because of the
straightforward nature of some actions or the narrowness of their
scope, many SIP revisions get few, if any, comments from the public
during the comment period.''); 47 FR 27073, 27074 (June 23, 1982)
(``as part of EPA's new SIP processing program, a SIP revision that
is judged by EPA to be noncontroversial and where no adverse public
comments are anticipated, will be published as a final rulemaking
without first going through a proposed rulemaking phase''); 59 FR
24054, 24054 (May 10, 1994) (actions that are noncontroversial, and
where no adverse public comment is anticipated, ``do not have to be
limited to trivial administrative changes''). See also Ronald M.
Levin, Direct Final Rulemaking, 64 Geo. Wash. L. Rev. 1, 4-6 (1995);
Memorandum from Leslye Fraser, Asst. Gen. Counsel, U.S. EPA,
Guidance on Direct Final Rulemaking (Oct. 29, 1998), available at
https://cfpub.epa.gov/oarwebadmin/sipman/sipman/mAppContent.cfm?chap=99&OtherFile=appendix/dfrguide&RequestTimeOut=500 (actions that are noncontroversial and
for which EPA expects no adverse comment ``generally include non-
controversial amendments, non-controversial rulemakings, and routine
or minor actions'').
    \3\ For recent examples, see 85 FR 14578 (March 13, 2020) and 82
FR 43848 (September 20, 2017).
    \4\ 86 FR 53880 (September 29, 2021).
    \5\ For EPA's description of this procedure, see 59 FR at 24054
(May 10, 1994) and Fraser, supra note 2. See also 47 FR 27074 (June
23, 1982) (requiring EPA to state in DFRs for SIP revisions that
``no comments are anticipated and that, unless notice is received
within 30 days that someone wishes to submit adverse or critical
comments, the rulemaking will be effective 60 days from the date the
notice is published'').
    \6\ 46 FR 44777 (September 8, 1981).
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    EPA viewed Illinois' infrastructure SIP submissions for these
specific NAAQS as noncontroversial and anticipated no adverse comment
for two reasons. First, EPA believed that Illinois' SIP submissions for
these NAAQS straightforwardly met the relevant CAA infrastructure SIP
requirements. Second, IEPA in its own state level rulemaking process to
develop the infrastructure SIP submissions held 30-day periods for the
public to comment on or to submit public hearing requests for the 2012
PM2.5 and 2015 ozone NAAQS (on June 23, 2017 and November
16, 2018, respectively), but IEPA received no requests for a public
hearing during the comment periods and no comments on the portions of
the Illinois submission addressed in the DFR.\7\ The DFR included these
details on the state level actions.\8\ Because IEPA received no
comments on the portions of Illinois' submissions on which EPA is
acting during its own public comment periods, EPA did not believe the
proposed SIP revision was controversial and expected no public comments
for this action.
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    \7\ Illinois' September 22, 2020, submittal also requested a SIP
revision to establish a SIP-approved PSD program in Illinois. EPA
approved the PSD permitting program on September 9, 2021 (86 FR
50459). In the final rule, EPA responded to adverse comments
received during the public comment period for its proposed approval
of Illinois' PSD program. Further, IEPA received comments on section
110(a)(2)(D)(i)(I) Prongs 1 and 2 pertaining to interstate transport
requirements, of which EPA disapproved on February 22, 2022 (87 FR
9838).
    \8\ 86 FR at 53873.
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    As the commenters point out, and consistent with Agency policy, EPA
made a brief statement in the DFR that it viewed the action as a
noncontroversial SIP amendment and anticipated no adverse comments.\9\
In response to the adverse comments, EPA removed the DFR and is
addressing the comments in this rule. As the NPRM and the DFR appeared
on the same day in the Federal Register (September 29, 2021), EPA's
procedure preserved the public's opportunity to comment on this action.
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    \9\ Id. at 53880. Nearly identical statements appear in recent
DFRs, supra n.3. See 85 FR at 14584 (March 13, 2020); 82 FR at 43849
(September 20, 2017). They are all consistent with the guidance in
the Fraser Memorandum, supra n.2.
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    Comment: The commenters argue that the EPA's proposed approval of
Illinois' submittal, which considered the 2021 Annual Air Monitoring
Network Plan (the ``plan'') for satisfaction of CAA section
110(a)(2)(B), should have considered the 2022 plan.
    Response: EPA disagrees that approval of the monitoring plan
requirements of CAA section 110(a)(2)(B) cannot be finalized without
approval of the 2022 plan. At the time of the proposal, EPA was still
in the process of reviewing the 2022 plan. The 2021 plan was the most
recently approved plan, and hence was the correct plan to reference for
satisfaction of CAA section 110(a)(2)(B). As the commenters suggest,
EPA was working with IEPA to establish a lead monitor location for
approval as part of the 2022 plan, but this change would not affect the
ability of the State to monitor PM2.5 and ozone; in fact,
the number of ozone and PM2.5 monitors will not change under
the 2022 plan.\10\ Further, IEPA's submittal satisfies other
requirements of CAA section 110(a)(2)(B) as discussed in the proposal.
To fulfill monitoring network obligations, the submission must
demonstrate that the state: (i) Monitors air quality at appropriate
locations throughout the state using EPA-approved Federal Reference
Method or Federal Equivalent Method monitors; (ii) submits data to
EPA's Air Quality System in a timely manner; and (iii) provides EPA
Regional Offices with prior notification of any planned changes to
monitoring sites or the network plan.\11\ All of the above elements are
met by IEPA's submittal. Therefore, EPA continues to find that Illinois
has met the infrastructure SIP requirements of CAA section 110(a)(2)(B)
with respect to the 2012 PM2.5 and 2015 ozone NAAQS.
---------------------------------------------------------------------------

    \10\ The 2022 plan is available on IEPA's website and was
available for public comment in July 2021. The 2022 plan has since
been approved by EPA as of December 21, 2021.
    \11\ See generally, 40 CFR part 58.
---------------------------------------------------------------------------

    Comment: Lastly, the commenters claim that Illinois failed to
provide necessary assurances under CAA section 110(a)(2)(E) that the
state will have adequate funding and personnel to carry out its
approved SIP. In particular, the commenters claim that the assurances
IEPA did provide are vague and limited to permitting activities. The
commenters also allege that IEPA has for many years been understaffed
and under-resourced to handle its existing volume of regulatory
obligations.
    Response: EPA disagrees that IEPA has not provided sufficient
information about its funding and personnel to provide necessary
assurances as required by section 110(a)(2)(E). EPA acknowledges that
IEPA has had staff and funding declines over the years due to reduced
legislative budget allocations, facility shutdowns that result in
reduced permitting fees (particularly by large emitters such as coal-
fired power plants), and other factors. However, EPA disagrees that
IEPA's assurances to meet CAA section 110(a)(2)(E) are too vague and
limited to permitting. In response to the commenter's concern, EPA has
again evaluated the information provided concerning its funding and
personnel for implementation of its SIP and has concluded that IEPA has
provided necessary assurances sufficient to meet the requirements of
section 110(a)(2)(E) with respect to the 2012 PM2.5 and 2015
ozone NAAQS.
    While CAA section 110(a)(2)(E) requires each state to provide
necessary assurances that the state will have adequate personnel,
funding, and authority under state law to carry out the SIP, it does
not mandate a specific methodology for EPA to use when evaluating the
adequacy of resources to implement the SIP. See 76 FR 42549, 42554
(July 19, 2011). Even so, the commenters only highlight budget cuts at
IEPA leading up to 2018, but do not

consider increases in IEPA's revenue and budget. For instance, as
discussed in IEPA's referenced submissions, Public Act 097-0095/House
Bill 1297 \12\ was signed into effect in 2011 by the Illinois Governor
to increase operating permit fees. More recently, EPA notes the
increase in enacted funding for IEPA to $380 million in 2019, $450
million in 2020, and $514 million in 2021.\13\ Further, staff in IEPA's
Bureau of Air has increased from 164 to an estimated 185 (with 194
targeted for FY 2022), and the enacted appropriation for the Bureau of
Air has increased from $147,825,800 in FY 2020 to $156,808,200 in FY
2021 (with $158,536,300 proposed for FY 2022).\14\
---------------------------------------------------------------------------

    \12\ See Chapter 415, section 5 of the Illinois Compiled
Statutes (415 ILCS 5/9.6).
    \13\ See https://www2.illinois.gov/sites/budget/Pages/InteractiveBudget.aspx (last visited Feb. 1, 2022). The enacted
total IEPA budget for 2021 appears to be the same figure as proposed
by the Illinois Governor. See https://www2.illinois.gov/sites/budget/Documents/Budget%20Book/FY2021-Budget-Book/Fiscal-Year-2021-Operating-Budget-Book.pdf at 79.
    \14\ See Ill. Office of Mgmt. & Budget, Exec. Office of the
Governor, Ill. State Operating Budget, Fiscal Year 2022, available
at https://www2.illinois.gov/sites/budget/Documents/Budget%20Book/FY2022-Budget-Book/Fiscal-Year-2022-Operating-Budget.pdf.
---------------------------------------------------------------------------

    While the commenters expressed concern that that IEPA's statement
about its current number of full-time permit engineers and the revenue
stream from permit fees is unreasonably vague and can't be relied upon
for SIP approval, EPA did not rely solely on this statement in
evaluating Illinois' submittal with respect to funding and personnel.
In addition to the budget figures cited above and other sources of
funding available to the State under State statutes and rules pursuant
to CAA section 110(a)(2), EPA considered IEPA's fulfillment of its
obligations under the Performance Partnership Agreement with EPA.\15\
EPA also considered IEPA's fulfillment of its grant obligations under
CAA section 105, which provides monies to help support the foundation
of the state's air quality program, including air monitoring,
enforcement, and SIP development. States are required to provide
matching monies to receive their grant, and EPA evaluates the
performance of the State each year. EPA determined in July 2021 that,
as of fiscal year 2020, Illinois has satisfactorily completed its air
program obligations as called for under the CAA section 105 grant,
including meeting specific measures related to maintenance of an EPA-
approved statewide air quality surveillance network required by section
110(a)(2)(B) of the CAA.
---------------------------------------------------------------------------

    \15\ See https://www2.illinois.gov/epa/about-us/Pages/performance-partnership-agreement.aspx.
---------------------------------------------------------------------------

    If, in the future, EPA determines that Illinois does not have
adequate personnel or funding to carry out its SIP, or for any other
reason fails to meet any requirement of its approved SIP, then EPA may
exercise its authority pursuant to CAA sections 110(a)(2)(E), 179, or
110(k)(5) to impose sanctions and other remedies on the State as
allowed by the CAA. The action that EPA is taking here does not limit
EPA's authority pursuant to those CAA sections.\16\
---------------------------------------------------------------------------

    \16\ See also, 86 FR 50459, 50462.
---------------------------------------------------------------------------

III. What action is EPA taking?

    EPA is approving the majority of two infrastructure SIP submissions
from IEPA to address the required infrastructure elements under
sections 110(a)(1) and (2) for the 2012 PM2.5 and 2015 ozone
NAAQS.\17\ The table below summarizes EPA's actions on Illinois'
submittal in satisfaction of the infrastructure SIP requirements
pursuant to section 110(a)(2).\18\ Additionally, EPA is approving
Illinois' submission as meeting the infrastructure SIP requirements of
sections 110(a)(2)(C), (D)(i)(II), (D)(ii), and (J) pertaining to PSD
requirements with respect to the 1997 ozone, 1997 PM2.5,
2006 PM2.5, 2008 ozone, 2008 lead, 2010 NO2, and
2010 SO2 NAAQS.
---------------------------------------------------------------------------

    \17\ EPA emphasizes that the recently approved PSD provisions
discussed in 110(a)(2)(C), (D) and (J) are not limited to ozone and
PM2.5. See Applicability of PSD requirements section in
the DFR for more information on elements approved for the 1997
ozone, 2008 ozone, 2008 lead, 2010 NO2, 1997
PM2.5, 2006 PM2.5, and 2010 SO2
NAAQS. 86 FR at 53879.
    \18\ In the time since proposed approval of this action, the
portion of IEPA's submission addressing 2015 ozone transport,
section 110(a)(2)(D)(i)(I) prongs 1 and 2 has been proposed for
disapproval (February 22, 2022, 87 FR 9838).

----------------------------------------------------------------------------------------------------------------
                                    Element                                        2012 PM2.5       2015 ozone
----------------------------------------------------------------------------------------------------------------
(A)--Emission limits and other control measures...............................               A                A
(B)--Ambient air quality monitoring/data system...............................               A                A
(C)1--Program for enforcement of control measures.............................               A                A
(C)2--Minor NSR...............................................................               A                A
(C)3--PSD.....................................................................               A                A
(D)1--I Prong 1: Interstate transport--significant contribution to                          PA               PD
 nonattainment................................................................
(D)2--I Prong 2: Interstate transport--interference with maintenance..........              PA               PD
(D)3--II Prong 3: Interstate transport--interference with PSD.................               A                A
(D)4--II Prong 4: Interstate transport--interference with visibility                        NA               NA
 protection...................................................................
(D)5--Interstate and international pollution abatement........................               A                A
(E)1--Adequate resources......................................................               A                A
(E)2--State board requirements................................................               A                A
(F)--Stationary source monitoring system......................................               A                A
(G)--Emergency powers.........................................................               A                A
(H)--Future SIP revisions.....................................................               A                A
(I)--Nonattainment planning requirements of part D............................               *                *
(J)1--Consultation with government officials..................................               A                A
(J)2--Public notification.....................................................               A                A
(J)3--PSD.....................................................................               A                A
(J)4--Visibility protection...................................................               *                *
(K)--Air quality modeling/data................................................               A                A
(L)--Permitting fees..........................................................               A                A
(M)--Consultation/participation by affected local entities....................               A                A
----------------------------------------------------------------------------------------------------------------

    In the above table, the key is as follows:

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

------------------------------------------------------------------------
A.................................  Approve.
NA................................  No Action/Separate Rulemaking.
PA................................  Previously Approved.
PD................................  Previous Proposed Disapproval.
D.................................  Disapprove.

*.................................  Not germane to infrastructure SIPs.
------------------------------------------------------------------------

IV. Statutory and Executive Order Reviews

    Under the CAA, the Administrator is required to approve a SIP
submission that complies with the provisions of the CAA and applicable
Federal regulations. 42 U.S.C. 7410(k); 40 CFR 52.02(a). Thus, in
reviewing SIP submissions, EPA's role is to approve state choices,
provided that they meet the criteria of the CAA. Accordingly, this
action merely approves state law as meeting Federal requirements and
does not impose additional requirements beyond those imposed by state
law. For that reason, this action:
     Is not a significant regulatory action subject to review
by the Office of Management and Budget under Executive Orders 12866 (58
FR 51735, October 4, 1993) and 13563 (76 FR 3821, January 21, 2011);
     Does not impose an information collection burden under the
provisions of the Paperwork Reduction Act (44 U.S.C. 3501 et seq.);
     Is certified as not having a significant economic impact
on a substantial number of small entities under the Regulatory
Flexibility Act (5 U.S.C. 601 et seq.);
     Does not contain any unfunded mandate or significantly or
uniquely affect small governments, as described in the Unfunded
Mandates Reform Act of 1995 (Pub. L. 104-4);
     Does not have federalism implications as specified in
Executive Order 13132 (64 FR 43255, August 10, 1999);
     Is not an economically significant regulatory action based
on health or safety risks subject to Executive Order 13045 (62 FR
19885, April 23, 1997);
     Is not a significant regulatory action subject to
Executive Order 13211 (66 FR 28355, May 22, 2001);
     Is not subject to requirements of Section 12(d) of the
National Technology Transfer and Advancement Act of 1995 (15 U.S.C. 272
note) because application of those requirements would be inconsistent
with the CAA; and
     Does not provide EPA with the discretionary authority to
address, as appropriate, disproportionate human health or environmental
effects, using practicable and legally permissible methods, under
Executive Order 12898 (59 FR 7629, February 16, 1994).
    In addition, the SIP is not approved to apply on any Indian
reservation land or in any other area where EPA or an Indian tribe has
demonstrated that a tribe has jurisdiction. In those areas of Indian
country, the rule does not have tribal implications and will not impose
substantial direct costs on tribal governments or preempt tribal law as
specified by Executive Order 13175 (65 FR 67249, November 9, 2000).
    This action is subject to the Congressional Review Act, and EPA
will submit a rule report to each House of the Congress and to the
Comptroller General of the United States. This action is not a ``major
rule'' as defined by 5 U.S.C. 804(2).
    Under section 307(b)(1) of the CAA, petitions for judicial review
of this action must be filed in the United States Court of Appeals for
the appropriate circuit by June 7, 2022. Filing a petition for
reconsideration by the Administrator of this final rule does not affect
the finality of this action for the purposes of judicial review nor
does it extend the time within which a petition for judicial review may
be filed, and shall not postpone the effectiveness of such rule or
action. This action may not be challenged later in proceedings to
enforce its requirements. (See section 307(b)(2).)

List of Subjects in 40 CFR Part 52

    Environmental protection, Air pollution control, Incorporation by
reference, Intergovernmental relations, Ozone, Particulate matter,
Reporting and recordkeeping requirements, Volatile organic compounds.

    Dated: April 1, 2022.
Debra Shore,
Regional Administrator, Region 5.

    For the reasons stated in the preamble, EPA amends 40 CFR part 52
as follows:

PART 52--APPROVAL AND PROMULGATION OF IMPLEMENTATION PLANS

0
1. The authority citation for part 52 continues to read as follows:

    Authority:  42 U.S.C. 7401 et seq.

0
2. In Sec.  52.720, the table in paragraph (e) is amended under the
heading ``Section 110(a)(2) Infrastructure Requirements'' by:
0
a. Revising the entries for ``1997 8-hour Ozone NAAQS Infrastructure
Requirements'', ``1997 PM2.5 NAAQS Infrastructure
Requirements'', ``2006 24-hour PM2.5 Infrastructure
Requirements'', ``2008 Lead Infrastructure Requirements'', ``2008 Ozone
NAAQS Infrastructure Requirements'', ``2010 NO2 NAAQS
Infrastructure Requirements'', ``2010 SO2 NAAQS
Infrastructure Requirements'', and ``2012 PM2.5 NAAQS
Infrastructure Requirements''; and
0
b. Adding an entry for ``2015 Ozone NAAQS Infrastructure Requirements''
at the end of the table.
    The revisions and addition read as follows:

Sec.  52.720   Identification of plan.

* * * * *
    (e) * * *

                       EPA-Approved Illinois Nonregulatory and Quasi-Regulatory Provisions
----------------------------------------------------------------------------------------------------------------
                                      Applicable
     Name of SIP provision          geographic or       State submittal    EPA approval date       Comments
                                  nonattainment area         date
----------------------------------------------------------------------------------------------------------------

                                                  * * * * * * *
----------------------------------------------------------------------------------------------------------------
                                  Section 110(a)(2) Infrastructure Requirements
----------------------------------------------------------------------------------------------------------------
1997 8-hour Ozone NAAQS          Statewide..........  12/12/2007 and 9/   4/8/2022, [Insert   All CAA
 Infrastructure Requirements.                          22/2020.            Federal Register    infrastructure
                                                                           Citation].          elements under
                                                                                110(a)(2) have
                                                                                been approved
                                                                                except (D)(i)(I)
                                                                                [Prongs 1 and 2].
                                                                                A FIP is in place
                                                                                for these
                                                                                elements.
1997 PM2.5 NAAQS Infrastructure  Statewide..........  12/12/2007 and 9/   4/8/2022, [Insert   All CAA
 Requirements.                                         22/2020.            Federal Register    infrastructure
                                                                           Citation].          elements under
                                                                                110(a)(2) have
                                                                                been approved
                                                                                except (D)(i)(I)
                                                                                [Prongs 1 and 2].
                                                                                A FIP is in place
                                                                                for these
                                                                                elements.
2006 24-hour PM2.5 NAAQS         Statewide..........  8/9/2011,           4/8/2022, [Insert   All CAA
 Infrastructure Requirements.                          supplemented on 8/  Federal Register    infrastructure
                                                       25/2011, 6/27/      Citation].          elements under
                                                       2012, 7/5/2017                          110(a)(2) have
                                                       and 9/22/2020.                          been approved
                                                                                except (D)(i)(I)
                                                                                [Prongs 1 and 2].
                                                                                A FIP is in place
                                                                                for these
                                                                                elements.

2008 Lead NAAQS Infrastructure   Statewide..........  12/31/2012, 7/5/    4/8/2022, [Insert   All CAA
 Requirements.                                         2017 and 9/22/      Federal Register    infrastructure
                                                       2020.               Citation].          elements under
                                                                                110(a)(2) have
                                                                                been approved.
2008 Ozone NAAQS Infrastructure  Statewide..........  12/31/2012, 7/5/    4/8/2022, [Insert   All CAA
 Requirements.                                         2017 and 9/22/      Federal Register    infrastructure
                                                       2020.               Citation].          elements under
                                                                                110(a)(2) have
                                                                                been approved
                                                                                except (D)(i)(I)
                                                                                [Prongs 1 and 2].
                                                                                A FIP is in place
                                                                                for these
                                                                                elements.
2010 NO2 NAAQS Infrastructure    Statewide..........  12/31/2012, 7/5/    4/8/2022, [Insert   All CAA
 Requirements.                                         2017 and 9/22/      Federal Register    infrastructure
                                                       2020.               Citation].          elements under
                                                                                110(a)(2) have
                                                                                been approved.
2010 SO2 NAAQS Infrastructure    Statewide..........  12/31/2012, 7/5/    4/8/2022, [Insert   All CAA
 Requirements.                                         2017 and 9/22/      Federal Register    infrastructure
                                                       2020.               Citation].          elements under
                                                                                110(a)(2) have
                                                                                been approved
                                                                                except (D)(i)(I)
                                                                                [Prongs 1 and 2],
                                                                                which have not
                                                                                yet been
                                                                                submitted.
2012 PM2.5 NAAQS Infrastructure  Statewide..........  9/29/2017 and 9/22/ 4/8/2022, [Insert   All CAA
 Requirements.                                         2020.               Federal Register    infrastructure
                                                                           Citation].          elements under
                                                                                110(a)(2) have
                                                                                been approved
                                                                                except (D)(i)(II)
                                                                                Prong 4.
2015 Ozone NAAQS Infrastructure  Statewide..........  5/16/2019 and 9/22/ 4/8/2022, [Insert   All CAA
 Requirements.                                         2020.               Federal Register    infrastructure
                                                                           Citation].          elements under
                                                                                110(a)(2) have
                                                                                been approved
                                                                                except (D)(i)(I)
                                                                                and Prong 4 of
                                                                                (D)(i)(II) Prong
                                                                                4.

                                                  * * * * * * *
----------------------------------------------------------------------------------------------------------------

* * * * *
[FR Doc. 2022-07346 Filed 4-7-22; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register Volume 81, Number 168 (Tuesday, August 30, 2016)]
[Notices]
[Page 59698]
[FR Doc No: 2016-20952]

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SECURITIES AND EXCHANGE COMMISSION

Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the
Government in the Sunshine Act, Public Law 94-409, that the Securities
and Exchange Commission will hold a Closed Meeting on Thursday,
September 1, 2016 at 2:00 p.m.
    Commissioners, Counsel to the Commissioners, the Secretary to the
Commission, and recording secretaries will attend the Closed Meeting.
Certain staff members who have an interest in the matters also may be
present.
    The General Counsel of the Commission, or her designee, has
certified that, in her opinion, one or more of the exemptions set forth
in 5 U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) and 17 CFR
200.402(a)(3), (5), (7), 9(ii) and (10), permit consideration of the
scheduled matter at the Closed Meeting.
    Commissioner Stein, as duty officer, voted to consider the items
listed for the Closed Meeting in closed session.
    The subject matter of the Closed Meeting will be:
    Institution and settlement of injunctive actions;
    Institution and settlement of administrative proceedings;
    Adjudicatory matters; and
    Other matters relating to enforcement proceedings.
    At times, changes in Commission priorities require alterations in
the scheduling of meeting items.
    For further information and to ascertain what, if any, matters have
been added, deleted or postponed, please contact Brent J. Fields from
the Office of the Secretary at<PHONE_NUMBER>.

    Dated: August 25, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016-20952 Filed 8-26-16; 4:15 pm]
 BILLING CODE 8011-01-P


[Federal Register: November 18, 2009 (Volume 74, Number 221)]
[Notices]
[Page 59594-59596]
[DOCID:fr18no09-102]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-60981; File No. SR-NYSEArca-2009-79]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
of Amendment No. 1 and Order Granting Accelerated Approval of a
Proposed Rule Change, as Modified by Amendment No. 1 Thereto, Relating
to Listing of Five Fixed Income Funds of the PIMCO ETF Trust

November 10, 2009.
    On August 27, 2009, NYSE Arca, Inc. (``NYSE Arca'' or
``Exchange''), through its wholly owned subsidiary, NYSE Arca Equities,
Inc. (``NYSE Arca Equities''), filed with the Securities and Exchange
Commission (``Commission''), pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4
thereunder,\2\ a proposed rule change to list and trade shares
(``Shares'') of the following funds of the PIMCO ETF Trust (``Trust'')
under NYSE Arca Equities Rule 8.600 (Managed Fund Shares): PIMCO
Enhanced Short Maturity Strategy Fund; PIMCO Government Limited
Maturity Strategy Fund; PIMCO Intermediate Municipal Bond Strategy
Fund; PIMCO Prime Limited Maturity Strategy Fund; and PIMCO Short Term
Municipal Bond Strategy Fund (each a ``Fund'' and, collectively, the
``Funds''). The proposed rule change was published in the Federal
Register on September 11, 2009.\3\ The Commission received no comments
on the proposal. On November 10, 2009, the Exchange filed Amendment No.
1 to the proposed rule change.\4\ This order provides notice of the
filing of Amendment No. 1, and approves the proposed rule change, as
modified by Amendment No. 1 thereto, on an accelerated basis.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 60619 (September 3,
2009), 74 FR 46820 (``Notice'').
    \4\ Amendment No. 1 reflects the following changes to the
proposed rule change: (a) On November 3, 2009, the Trust filed a
Registration Statement on Form N-1A with the Commission (File Nos.
333-155395 and 811-22250); (b) with respect to the PIMCO Enhanced
Short Maturity Strategy Fund, such Fund will be restricted from
investing in derivative instruments such as options contracts,
futures contracts, options on futures contracts, and swap agreements
(including, but not limited to, credit default swaps and swaps on
exchange-traded funds); and (c) the respective creation unit sizes
for the following Funds will be changed:
    (i) PIMCO Enhanced Short Maturity Strategy Fund creation unit
size will be reduced to 70,000 shares from 100,000 shares;
    (ii) PIMCO Government Limited Maturity Strategy Fund creation
unit size will be reduced to 90,000 shares from 100,000 shares; and
    (iii) PIMCO Prime Limited Maturity Strategy Fund creation unit
size will be reduced to 90,000 shares from 100,000 shares.
    The creation unit sizes for each of the PIMCO Intermediate
Municipal Bond Strategy Fund and the PIMCO Short Term Municipal Bond
Strategy Fund will not change and will be 100,000 shares,
respectively.
---------------------------------------------------------------------------

I. Description of the Proposal

    The Exchange proposes to list and trade the Shares pursuant to NYSE
Arca Equities Rule 8.600, which governs the listing of Managed Fund
Shares. Each of the Funds will be an actively managed exchange-traded
fund. The Shares will be offered by the Trust.\5\ Pacific Investment
Management Company LLC (``PIMCO'' or ``Adviser'') is the investment
adviser to each Fund.\6\ State Street Bank & Trust Co. is the custodian
and transfer agent for the Funds. The Trust's Distributor is Allianz
Global Investors Distributors LLC (``Distributor''), an indirect
subsidiary of Allianz Global Investors of America L.P., PIMCO's parent
company. The Distributor is a registered broker-dealer.\7\
---------------------------------------------------------------------------

    \5\ The Trust is a Delaware statutory trust that is registered
under the Investment Company Act of 1940 (15 U.S.C. 80a) (``1940
Act''). See Registration Statement on Form N-1A for the Trust filed
with the Commission on November 3, 2009 (File Nos. 333-155395 and
811-22250) (``Registration Statement'').
    \6\ The Exchange represents that the Adviser, as the investment
adviser of the Funds, and its related personnel, are subject to
Investment Advisers Act Rule 204A-1. This Rule specifically requires
the adoption of a code of ethics by an investment adviser to
include, at a minimum: (i) Standards of business conduct that
reflect the firm's/personnel fiduciary obligations; (ii) provisions
requiring supervised persons to comply with applicable federal
securities laws; (iii) provisions that require all access persons to
report, and the firm to review, their personal securities
transactions and holdings periodically as specifically set forth in
Rule 204A-1; (iv) provisions requiring supervised persons to report
any violations of the code of ethics promptly to the chief
compliance officer (``CCO'') or, provided the CCO also receives
reports of all violations, to other persons designated in the code
of ethics; and (v) provisions requiring the investment adviser to
provide each of the supervised persons with a copy of the code of
ethics with an acknowledgement by said supervised persons. In
addition, Rule 206(4)-7 under the Advisers Act makes it unlawful for
an investment adviser to provide investment advice to clients unless
such investment adviser has (i) adopted and implemented written
policies and procedures reasonably designed to prevent violation, by
the investment adviser and its supervised persons, of the Advisers
Act and the Commission rules adopted thereunder; (ii) implemented,
at a minimum, an annual review regarding the adequacy of the
policies and procedures established pursuant to subparagraph (i)
above and the effectiveness of their implementation; and (iii)
designated an individual (who is a supervised person) responsible
for administering the policies and procedures adopted under
subparagraph (i) above.
    \7\ The Funds have made application for an order granting
certain exemptive relief to the Trust under the 1940 Act. In
compliance with Commentary .05 to NYSE Arca Equities Rule 8.600,
which applies to Managed Fund Shares based on an international or
global portfolio, the Trust's application for exemptive relief under
the 1940 Act states that the Funds will comply with the federal
securities laws in accepting securities for deposits and satisfying
redemptions with redemption securities, including that the
securities accepted for deposits and the securities used to satisfy
redemption requests are sold in transactions that would be exempt
from registration under the Securities Act of 1933 (15 U.S.C. 77a).
---------------------------------------------------------------------------

    The Exchange states that the Shares will be subject to the initial
and continued listing criteria under NYSE Arca Equities Rule 8.600
applicable to Managed Fund Shares \8\ and that the Shares will comply
with Rule 10A-3

under the Act,\9\ as provided by NYSE Arca Equities Rule 5.3.
Additional information regarding the Trust, each of the Funds, the
Shares, the Funds' investment objectives, strategies, policies, and
restrictions, risks, fees and expenses, creation and redemption
procedures, portfolio holdings and policies, distributions and taxes,
availability of information, trading rules and halts, and surveillance
procedures, among other things, can be found in the Registration
Statement and in the Notice, as applicable.\10\
---------------------------------------------------------------------------

    \8\ The Exchange states that a minimum of 100,000 Shares will be
outstanding at the commencement of trading on the Exchange, and the
Exchange will obtain a representation from the issuer of the Shares
that the net asset value (``NAV'') per Share will be calculated
daily and that the NAV and the Disclosed Portfolio will be made
available to all market participants at the same time. See Notice,
supra note 3.
    \9\ 17 CFR 240.10A-3.
    \10\ See supra notes 3 and 5.
---------------------------------------------------------------------------

II. Solicitation of Comments

    Interested persons are invited to submit written data, views, and
arguments concerning whether Amendment No. 1 to the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://
www.sec.gov/rules/sro.shtml); or
     Send an e-mail to<EMAIL_ADDRESS>Please include
File Number SR-NYSEArca-2009-79 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NYSEArca-2009-79. This
file number should be included on the subject line if e-mail is used.
To help the Commission process and review your comments more
efficiently, please use only one method. The Commission will post all
comments on the Commission's Internet Web site (http://www.sec.gov/
rules/sro.shtml). Copies of the submission, all subsequent amendments,
all written statements with respect to the proposed rule change that
are filed with the Commission, and all written communications relating
to the proposed rule change between the Commission and any person,
other than those that may be withheld from the public in accordance
with the provisions of 5 U.S.C. 552, will be available for inspection
and copying 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 the filing also will be available for
inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-NYSEArca-2009-79 and should
be submitted on or before December 9, 2009.

III. Discussion and Commission's Findings

    The Commission has carefully reviewed the proposed rule change and
finds that it is consistent with the requirements of Section 6 of the
Act \11\ and the rules and regulations thereunder applicable to a
national securities exchange.\12\ In particular, the Commission finds
that the proposal is consistent with Section 6(b)(5) of the Act,\13\
which requires, among other things, that the Exchange's rules be
designed to promote just and equitable principles of trade, to remove
impediments to and perfect the mechanism of a free and open market and
a national market system, and, in general, to protect investors and the
public interest. The Commission notes that the Shares must comply with
the requirements of NYSE Arca Equities Rule 8.600 to be listed and
traded on the Exchange.
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    \11\ 15 U.S.C. 78f.
    \12\ In approving this proposed rule change the Commission has
considered the proposed rule's impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
    \13\ 17 U.S.C. 78f(b)(5).
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    The Commission finds that the proposal to list and trade the Shares
on the Exchange is consistent with Section 11A(a)(1)(C)(iii) of the
Act,\14\ which sets forth Congress' finding that it is in the public
interest and appropriate for the protection of investors and the
maintenance of fair and orderly markets to assure the availability to
brokers, dealers, and investors of information with respect to
quotations for and transactions in securities. Quotation and last-sale
information for the Shares will be available via the Consolidated Tape
Association (``CTA'') high-speed line, and the Exchange will
disseminate the Portfolio Indicative Value (``PIV'') at least every 15
seconds during the Core Trading Session through the facilities of the
CTA. In addition, the Funds will make available on a Web site on each
business day the Disclosed Portfolio that will form the basis for the
calculation of the NAV, which will be determined as of the close of the
regular trading session on the New York Stock Exchange (ordinarily 4
p.m. Eastern Time) on each business day. The Funds' Web site will also
include additional quantitative information updated on a daily basis
relating to trading volume, prices, and NAV. Information regarding the
market price and volume of the Shares will be continually available on
a real-time basis throughout the day via electronic services, and the
previous day's closing price and trading volume information for the
Shares will be published daily in the financial sections of newspapers.
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    \14\ 15 U.S.C. 78k-1(a)(1)(C)(iii).
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    The Commission further believes that the proposal is reasonably
designed to promote fair disclosure of information that may be
necessary to price the Shares appropriately and to prevent trading when
a reasonable degree of transparency cannot be assured. The Commission
notes that the Exchange will obtain a representation from the issuer
that the NAV per Share will be calculated daily and that the NAV and
the Disclosed Portfolio will be made available to all market
participants at the same time.\15\ Additionally, if it becomes aware
that the NAV or the Disclosed Portfolio is not disseminated daily to
all market participants at the same time, the Exchange will halt
trading in the Shares until such information is available to all market
participants.\16\ Further, if the PIV is not being disseminated as
required, the Exchange may halt trading during the day in which the
disruption occurs; if the interruption persists past the day in which
it occurred, the Exchange will halt trading no later than the beginning
of the trading day following the interruption.\17\ The Exchange
represents that the Adviser is affiliated with a broker-dealer, Allianz
Global Investors Distributors LLC, and has implemented a ``fire wall''
between it and its broker-dealer affiliate with respect to access to
information concerning the composition and/or changes to each of the
Funds' portfolios. Further, the Commission notes that the Reporting
Authority that provides the Disclosed Portfolio must implement and
maintain, or be subject to, procedures designed to prevent the use and
dissemination of material non-

public information regarding the actual components of each of the
portfolios.\18\
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    \15\ See NYSE Arca Equities Rule 8.600(d)(1)(B).
    \16\ See NYSE Arca Equities Rule 8.600(d)(2)(D).
    \17\ Id. Trading in the Shares may also be halted because of
market conditions or for reasons that, in the view of the Exchange,
make trading in the Shares inadvisable. These may include: (1) The
extent to which trading is not occurring in the securities
comprising the Disclosed Portfolio and/or the financial instruments
of the Funds; or (2) whether other unusual conditions or
circumstances detrimental to the maintenance of a fair and orderly
market are present.
    \18\ See NYSE Arca Equities Rule 8.600(d)(2)(B)(ii).
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    The Exchange has represented that the Shares are equity securities
subject to the Exchange's rules governing the trading of equity
securities. In support of this proposal, the Exchange has made
representations, including:
    (1) The Shares will conform to the initial and continued listing
criteria under NYSE Arca Equities Rule 8.600.
    (2) The Exchange's surveillance procedures are adequate to properly
monitor Exchange trading of the Shares in all trading sessions and to
deter and detect violations of Exchange rules and applicable federal
securities laws.
    (3) Prior to the commencement of trading, the Exchange will inform
its ETP Holders in an Information Bulletin of the special
characteristics and risks associated with trading the Shares.
Specifically, the Information Bulletin will discuss the following: (a)
The procedures for purchases and redemptions of Shares and that Shares
are not individually redeemable; (b) NYSE Arca Equities Rule 9.2(a),
which imposes a duty of due diligence on its ETP Holders to learn the
essential facts relating to every customer prior to trading the Shares;
(c) the risks involved in trading the Shares during the Opening and
Late Trading Sessions when an updated PIV will not be calculated or
publicly disseminated; (d) how information regarding the PIV is
disseminated; (e) the requirement that ETP Holders deliver a prospectus
to investors purchasing newly issued Shares prior to or concurrently
with the confirmation of a transaction; and (f) trading information.
    (4) The Funds will be in compliance with Rule 10A-3 under the Act.
    (5) The Funds will not invest in non-U.S. equity securities.

This approval order is based on the Exchange's representations.

    For the foregoing reasons, the Commission finds that the proposed
rule change is consistent with the Act and the rules and regulations
thereunder applicable to a national securities exchange.

IV. Accelerated Approval

    The Commission finds good cause, pursuant to Section 19(b)(2) of
the Act,\19\ for approving the proposal prior to the thirtieth day
after the date of publication of the Notice in the Federal Register.
The Commission notes that it has approved the listing and trading on
the Exchange of shares of other actively managed exchange-traded funds
based on a portfolio of securities, the characteristics of which are
similar to those to be invested by the Funds.\20\ The Commission also
notes that it has received no comments regarding the proposed rule
change. Further, the Commission believes that the additional investment
restrictions with respect to the PIMCO Enhanced Short Maturity Strategy
Fund and the decreased creation and redemption unit sizes for certain
of the Funds, as described in Amendment No. 1 to the proposed rule
change,\21\ do not raise any novel regulatory concerns. The Commission
believes that accelerating approval of this proposal should benefit
investors by creating, without undue delay, additional competition in
the market for Managed Fund Shares.
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    \19\ 15 U.S.C. 78s(b)(2).
    \20\ See, e.g., Securities Exchange Act Release Nos. 57514
(March 17, 2008), 73 FR 15230 (March 21, 2008) (SR-Amex-2008-02)
(approving the listing and trading of shares of the Bear Stearns
Current Yield Fund); 57626 (April 4, 2008), 73 FR 19923 (April 11,
2008) (SR-NYSEArca-2008-28) (approving the trading of shares of the
Bear Stearns Current Yield Fund on the Exchange pursuant to UTP);
and 57801 (May 8, 2008), 73 FR 27878 (May 14, 2008) (SR-NYSEArca-
2008-31) (approving the listing and trading of shares of twelve
actively-managed funds of the WisdomTree Trust).
    \21\ See supra note 4.
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V. Conclusion

    It is therfore ordered, pursuant to Section 19(b)(2) of the
Act,\22\ that the proposed rule change (SR-NYSEArca-2009-79), as
modified by Amendment No. 1 thereto, be, and it hereby is, approved on
an accelerated basis.
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    \22\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\23\
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    \23\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-27607 Filed 11-17-09; 8:45 am]

BILLING CODE 8011-01-P