[Federal Register: September 21, 2009 (Volume 74, Number 181)]
[Notices]
[Page 48107-48110]
[DOCID:fr21se09-83]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-60669; File No. SR-FINRA-2009-058]

Self-Regulatory Organizations; Financial Industry Regulatory
Authority, Inc.; Notice of Filing of Proposed Rule Change to Adopt
FINRA Rule 2232 (Customer Confirmations) in the Consolidated FINRA
Rulebook and to Delete NASD Rule 2230, NASD IM-2110-6 and Incorporated
NYSE Rule 409(f)

September 14, 2009.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``SEA'' or ``Act'')\1\ and Rule 19b-4 thereunder,\2\ notice is hereby
given that on August 24, 2009, the Financial Industry Regulatory
Authority, Inc. (``FINRA'') (f/k/a National Association of Securities

Dealers, Inc. (``NASD'')) filed with the Securities and Exchange
Commission (``SEC'' or ``Commission'') the proposed rule change as
described in Items I, II, and III below, which Items have been
substantially prepared by FINRA. The Commission is publishing this
notice to solicit comments on the proposed rule change from interested
persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    FINRA is proposing to adopt a customer confirmation rule for
purposes of the consolidated FINRA rulebook (``Consolidated FINRA
Rulebook'').\3\ In particular, FINRA proposes to adopt FINRA Rule 2232
(Customer Confirmations) and to delete NASD Rule 2230, NASD IM-2110-6
and Incorporated NYSE Rule 409(f).
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    \3\ See infra note 4.
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    The text of the proposed rule change is available on FINRA's Web
site 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
    As part of the process of developing a new Consolidated FINRA
Rulebook,\4\ FINRA is proposing to adopt a new, consolidated customer
confirmation rule. FINRA proposes to adopt FINRA Rule 2232 (Customer
Confirmations) and to delete NASD Rule 2230, NASD IM-2110-6 and NYSE
Rule 409(f).\5\
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    \4\ The current FINRA rulebook consists of: (1) FINRA Rules; (2)
NASD Rules; and (3) rules incorporated from NYSE (``Incorporated
NYSE Rules'') (together, the NASD Rules and Incorporated NYSE Rules
are referred to as the ``Transitional Rulebook''). While the NASD
Rules generally apply to all FINRA members, the Incorporated NYSE
Rules apply only to those members of FINRA that are also members of
the NYSE (``Dual Members''). The FINRA Rules apply to all FINRA
member firms, unless such rules have a more limited application by
their terms. For more information about the rulebook consolidation
process, see Information Notice, March 12, 2008 (Rulebook
Consolidation Process).
    \5\ For convenience, the Incorporated NYSE Rules are referred to
as the ``NYSE Rules.''
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(A) Background
    NASD and NYSE Rules set forth certain basic requirements with
respect to confirmations of transactions with customers.\6\
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    \6\ The proposed rule change addresses basic customer
confirmation requirements. FINRA Rules separately set forth
confirmation requirements that are specific to certain types of
financial products, such as the requirements set forth in FINRA Rule
2360 (adopted as part of FINRA's set of consolidated rules
addressing index warrants, options and security futures). See
Securities Exchange Act Release No. 58932 (November 12, 2008), 73 FR
69696 (November 19, 2008) (Approval Order).
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(1) NASD Rule 2230
    NASD Rule 2230 provides that a member at or before the completion
of each transaction\7\ with a customer shall give or send to the
customer written notification (i.e., confirmation) disclosing: (a)
whether the member is acting as a broker for the customer, as a dealer
for its own account, as a broker for some other person, or as a broker
for both the customer and some other person; and (b) in any case in
which the member is acting as a broker for the customer or for both the
customer and some other person, either the name of the person from whom
the security was purchased or to whom it was sold for the customer and
the date and time when the transaction took place or the fact that such
information will be furnished upon the request of the customer, and the
source and amount of any commission or other remuneration received or
to be received by the member in connection with the transaction.
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    \7\ SEA Rule 10b-10(d)(2) states that the term ``completion of
the transaction'' has the meaning set forth in SEA Rule 15c1-1. The
Rule 15c1-1 definition of ``completion of the transaction'' depends
on whether the customer is purchasing or selling the security, the
time when payment is made and the status of the custody/delivery of
the security.
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    When NASD Rule 2230 was adopted in 1939\8\ its requirements
essentially duplicated those set forth in SEA Rule 15c1-4 as originally
adopted by the SEC. The primary difference between the two rules was
that the scope of Rule 15c1-4 was restricted to over-the-counter
transactions while the NASD rule by its terms extended to all member
transactions with customers.\9\ In 1977, the SEC rescinded Rule 15c1-4
and adopted SEA Rule 10b-10, indicating that it would apply
``regardless of the manner in which a broker-dealer conducts its
business or the marketplace where transactions are effected.''\10\
Since then, the SEC has amended Rule 10b-10 several times.\11\
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    \8\ Rule 2230, formerly designated as Section 12 of the Rules of
Fair Practice, was adopted as part of FINRA's original rulebook. See
Certificate of Incorporation and By-Laws, Rules of Fair Practice and
Code of Procedure for Handling Trade Practice Complaints of National
Association of Securities Dealers, Inc. (August 8, 1939).
    \9\ See Securities Exchange Act Release No. 1330 (August 4,
1937).
    \10\ See Securities Exchange Act Release No. 13508 (May 5, 1977)
(Securities Confirmations: Final Rule).
    \11\ See, e.g., Securities Exchange Act Release No. 19687 (April
18, 1983), 48 FR 17583 (April 25, 1983) (Securities Confirmations:
Final Rule Amendments) (requiring, among things, disclosure to
investors of certain yield and call feature information in
connection with transactions in debt securities); Securities
Exchange Act Release No. 34962 (November 10, 1994), 59 FR 59612
(November 17, 1994) (Confirmation of Transactions: Final Rule
Amendments) (generally requiring, among others, disclosure if a debt
security is not rated by a nationally recognized statistical rating
organization, disclosure if a broker-dealer is not a member of the
Securities Investor Protection Corporation, and disclosure with
respect to the availability of information with respect to
transactions in collateralized debt securities); Securities Exchange
Act Release No. 46471 (September 6, 2002), 67 FR 58302 (September
13, 2002) (Confirmation Requirements for Transactions of Security
Futures Products Effected in Futures Accounts: Final Rule
Amendments) (adopting, among others, requirements regarding
transactions in securities futures products); Securities Exchange
Act Release No. 51808 (June 9, 2005), 70 FR 37496 (June 29, 2005)
(Regulation NMS: Final Rules and Amendments) (making conforming
amendments to Rule 10b-10 in connection with the adoption of
Regulation NMS).
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    (2) NASD IM-2110-6
    NASD IM-2110-6 requires that any member providing a customer
confirmation pursuant to SEA Rule 10b-10 in connection with any
transaction in callable common stock\12\ must disclose on the
confirmation that the security is callable common stock and that a
customer may contact the member for more information concerning the
security. When IM-2110-6 was adopted in 2000, FINRA noted that an
investor purchasing callable common stock is subject to unique risks
not typically associated with ownership of common stock, even when such
stock is called away at a premium.\13\ FINRA also stated that the
ability of an issuer's common stock to be called away from a
shareholder generally is a material fact to an investor. Accordingly,
in adopting the IM, FINRA stated that high standards of commercial
honor and just and equitable principles of trade would require members
to provide the

disclosures as set forth in the IM. FINRA further emphasized that the
disclosure of the call feature on the confirmation in no way relieves a
member of its obligation to consider the callable nature of the
security when complying with any applicable suitability obligations.
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    \12\ Callable common stock is stock that is subject to being
called away from a shareholder, either by the issuer or by a third
party.
    \13\ See Securities Exchange Act Release No. 42761 (May 5,
2000), 65 FR 30459 (May 11, 2000) (Approval Order). See also Notice
to Members 00-33 (May 2000) (Callable Common Stock).
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(3) NYSE Rule 409(f)
    NYSE Rule 409(f) requires that confirmation of all transactions in
securities admitted to dealings on the NYSE--whether over-the-counter
or on an exchange--sent by members or member organizations to their
customers, must clearly set forth with a suitable legend the settlement
date of each transaction. The rule provides that this requirement also
applies to confirmations or reports from an organization to a
correspondent, but does not apply to reports made by floor brokers to
the member organization from which the orders were received. The rule
further contains a general cross-reference instructing members to refer
to SEA Rule 10b-10.
    (B) Proposal
    The proposed rule change would delete current NASD Rule 2230 from
the FINRA rulebook and replace it with proposed FINRA Rule 2232, which
would streamline and combine basic customer confirmation requirements
in the NASD and NYSE Rules. Specifically:
     Proposed FINRA Rule 2232 would provide that confirmations
must be given or sent to customers in conformity with the requirements
of SEA Rule 10b-10. FINRA believes that incorporating by reference the
requirements of Rule 10b-10, as opposed to replicating the SEC rule's
detailed requirements in FINRA's rule, would make the proposed rule
clear and serve the interests of regulatory efficiency.
     The proposed rule change would delete NASD IM-2110-6 from
the FINRA rulebook and transfer its requirements to proposed FINRA Rule
2232. Proposed FINRA Rule 2232 would expand the coverage of those
requirements to make clear that the requirement to disclose that the
security is callable (and that further information is available from
the member) applies to any callable equity security,\14\ not just
callable common stock. FINRA believes that, from the standpoint of
investor protection, this change is necessary to ensure that the rule
covers, for instance, callable preferred stock.\15\
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    \14\ Exchange Act Section 3(a)(11) defines the term ``equity
security'' to include, among others, ``any stock or similar
security.''
    \15\ FINRA notes that SEA Rule 10b-10(a)(4) requires that, in
the case of any transaction in a debt security subject to redemption
before maturity, the confirmation must include a statement to the
effect that the debt security may be redeemed in whole or in part
before maturity, that such a redemption could affect the yield
represented and that additional information is available upon
request.
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     The requirement in NYSE Rule 409(f) to disclose the
settlement date of the transaction would be transferred to the new
rule, with two changes. First, consistent with FINRA's investor
protection mission, the requirement to disclose the settlement date of
the transaction would include all transactions in securities, not just
NYSE-listed securities. Second, because the proposed rule would address
customer confirmations, the elements of the NYSE rule addressing
member-to-member communications would, consistent with the parameters
of SEA Rule 10b-10, be deleted.
    FINRA will announce the implementation date of the proposed rule
change in a Regulatory Notice to be published no later than 90 days
following Commission approval.
2. Statutory Basis
    FINRA believes that the proposed rule change is consistent with the
provisions of Section 15A(b)(6) of the Act,\16\ 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. FINRA believes that the proposed rule change will
further the purposes of the Act because, as part of the FINRA rulebook
consolidation process, the proposed rule change would streamline and
reorganize existing rules that govern basic customer confirmation
requirements. Further, the proposed rule change would provide greater
regulatory clarity with respect to a member's customer confirmation
obligations.
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    \16\ 15 U.S.C. 78o-3(b)(6).
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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.

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

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

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://
www.sec.gov/rules/sro.shtml); or
     Send an e-mail to<EMAIL_ADDRESS>Please include
File Number SR-FINRA-2009-058 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-FINRA-2009-058. 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 such filing also will
be available for inspection and copying at the principal office of
FINRA. 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-
FINRA-2009-058 and should be submitted on or before October 13, 2009.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\17\
Florence E. Harmon,
Deputy Secretary.
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    \17\ 17 CFR 200.30-3(a)(12).
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[FR Doc. E9-22513 Filed 9-18-09; 8:45 am]

BILLING CODE 8010-01-P


[Federal Register Volume 79, Number 60 (Friday, March 28, 2014)]
[Proposed Rules]
[Pages 17486-17489]
[FR Doc No: 2014-06849]

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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 165

[Docket Number USCG-2014-0077]
RIN 1625-AA00

Safety Zone, Pasquotank River; Elizabeth City, NC

AGENCY: Coast Guard, DHS.

ACTION: Notice of Proposed Rulemaking.

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SUMMARY: The Coast Guard is proposing to establish a temporary safety
zone on the navigable waters of the Pasquotank River in Elizabeth City,
NC in support of the fireworks display for the Potato Festival. This
action is necessary to protect the life and property of the maritime
public and spectators from the hazards posed by aerial fireworks
displays. Entry into or movement within this safety zone during the
enforcement period is prohibited without approval of the Captain of the
Port.

DATES: Comments and related material must be received by the Coast
Guard on or before April 28, 2014.

ADDRESSES: You may submit comments identified by docket number using
any one of the following methods:
    (1) Federal eRulemaking Portal: http://www.regulations.gov.
    (2) Fax:<PHONE_NUMBER>.
    (3) Mail or Delivery: Docket Management Facility (M-30), U.S.
Department of Transportation, West Building Ground Floor, Room W12-140,
1200 New Jersey Avenue SE., Washington, DC 20590-0001. Deliveries
accepted between 9 a.m. and 5 p.m., Monday through Friday, except
federal holidays. The telephone number is<PHONE_NUMBER>.
    See the ``Public Participation and Request for Comments'' portion
of the SUPPLEMENTARY INFORMATION section below for further instructions
on submitting comments. To avoid duplication, please use only one of
these three methods.

FOR FURTHER INFORMATION CONTACT: If you have questions on this rule,
call or email BOSN4 Joseph M. Edge, Coast Guard Sector North Carolina,
Coast Guard; telephone<PHONE_NUMBER>, email<EMAIL_ADDRESS>If
you have questions on viewing or submitting material to the docket,
call Cheryl Collins, Program Manager, Docket Operations, telephone
(202) 366-9826.

SUPPLEMENTARY INFORMATION:

Table of Acronyms

DHS Department of Homeland Security
FR Federal Register
NPRM Notice of Proposed Rulemaking

A. Public Participation and Request for Comments

    We encourage you to participate in this rulemaking by submitting
comments and related materials. All comments received will be posted
without change to http://www.regulations.gov and will include any
personal information you have provided.

1. Submitting Comments

    If you submit a comment, please include the docket number for this
rulemaking, indicate the specific section of this document to which
each comment applies, and provide a reason for each suggestion or
recommendation. You may submit your comments and material online at
http://www.regulations.gov, or by fax, mail, or hand delivery, but
please use only one of these means. If you submit a comment online, it
will be considered received by the Coast Guard when you successfully
transmit the comment. If you fax, hand deliver, or mail your comment,
it will be considered as having been received by the Coast Guard when
it is received at the Docket Management Facility. We recommend that you
include your name and a mailing address, an email address, or a
telephone number in the body of your document so that we can contact
you if we have questions regarding your submission.
    To submit your comment online, go to http://www.regulations.gov,
type the docket number [USCG-2014-0077] in the ``SEARCH'' box and click
``SEARCH.'' Click on ``Submit a Comment'' on the line associated with
this rulemaking.
    If you submit your comments by mail or hand delivery, submit them
in an unbound format, no larger than 8\1/2\ by 11 inches, suitable for
copying and electronic filing. If you submit comments by mail and would
like to know that they reached the Facility, please enclose a stamped,
self-addressed postcard or envelope. We will consider all comments and
material received during the comment period and may change the rule
based on your comments.

2. Viewing Comments and Documents

    To view comments, as well as documents mentioned in this preamble
as being available in the docket, go to http://www.regulations.gov,
type the docket number (USCG-2014-0077) in the ``SEARCH'' box and click
``SEARCH.'' Click on Open Docket Folder on the line associated with
this rulemaking. You may also visit the Docket Management Facility in
Room W12-140 on the ground floor of the Department of Transportation
West Building, 1200 New Jersey Avenue SE., Washington, DC 20590,
between 9 a.m. and 5 p.m., Monday through Friday, except Federal
holidays.

3. Privacy Act

    Anyone can search the electronic form of comments received into any
of our dockets by the name of the individual submitting the comment (or
signing the comment, if submitted on behalf of an association,
business, labor union, etc.). You may review a Privacy Act notice
regarding our public dockets in the January 17, 2008, issue of the
Federal Register (73 FR 3316).

4. Public Meeting

    We do not now plan to hold a public meeting. But you may submit a
request for one, using one of the methods specified under ADDRESSES.
Please explain why you believe a public meeting would be beneficial. If
we determine that one would aid this rulemaking, we will hold one at a
time and place announced by a later notice in the Federal Register.

B. Regulatory History and Information

    On April 24, 2013, we published a Temporary Final Rule (TFR)
entitled ``Safety Zone, Pasquotank River, Elizabeth City, NC'' in the
Federal Register (78 FR 24071).

C. Basis and Purpose

    On May 17, 2014, the NC Potato Festival will sponsor a fireworks
display from a barge anchored in the Pasquotank River at latitude
36[deg]17'47'' N longitude 076[deg]12'17'' W. The fireworks debris
fallout area will extend over the navigable waters of the Pasquotank
River. Due to the need to protect mariners and spectators from the
hazards associated with the fireworks display, including accidental
discharge of fireworks, dangerous projectiles, and falling hot embers
or other debris, vessel traffic will be temporarily restricted from
transiting within fireworks launch and fallout area.

D. Discussion of Proposed Rule

    The Coast Guard is proposing to establish a safety zone on the
navigable waters of Pasquotank River in Elizabeth City, NC. The
regulated area of this safety zone includes all water of the Pasquotank
River within a 300 yards radius of latitude 36[deg]17'47'' N longitude
076[deg]12'17'' W.
    This proposed safety zone will be established and enforced from 8
p.m. to 11 p.m. on May 17, 2014. In the interest of public safety,
general navigation within the safety zone will be restricted during the
specified date and times. Except for participants and vessels
authorized by the Coast Guard Captain of the Port or his
representative, no person or vessel may enter or remain in the
regulated area.

E. Regulatory Analyses

    We developed this proposed rule after considering numerous statutes
and executive orders related to rulemaking. Below we summarize our
analyses based on a number of these statutes or executive orders.
1. Regulatory Planning and Review
    This proposed rule is not a significant regulatory action under
section 3(f) of Executive Order 12866, Regulatory Planning and Review,
as supplemented by Executive Order 13563, Improving Regulation and
Regulatory Review, and does not require an assessment of potential
costs and benefits under section 6(a)(3) of Executive Order 12866 or
under section 1 of Executive Order 13563. The Office of Management and
Budget has not reviewed it under those Orders. Although this regulation
restricts access to a small segment of the Pasquotank River, the effect
of this rule will not be significant because: (i) The safety zone will
be in effect for a limited duration; (ii) the zone is of limited size;
and (iii) the Coast Guard will make notifications via maritime
advisories so mariners can adjust their plans accordingly.
2. Impact on Small Entities
    The Regulatory Flexibility Act of 1980 (RFA), 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 certifies under 5 U.S.C. 605(b) that this
proposed rule will not have a significant economic impact on a
substantial number of small entities. This proposed rule would affect
the following entities, some of which might be small entities: The
owners or operators of vessels intending to transit or anchor in the
Pasquotank River where fireworks events are being held. This regulation
will not have a significant impact on a substantial number of small
entities because it will be enforced only during the fireworks display
event that has been permitted by the Coast Guard Captain of the Port.
The Captain of the Port will ensure that small entities are able to
operate in the regulated area when it is safe to do so. In some cases,
vessels will be able to safely transit around the regulated area at
various times, and, with the permission of the Patrol Commander,
vessels may transit through the

regulated area. Before the enforcement period, the Coast Guard will
issue maritime advisories so mariners can adjust their plans
accordingly.
    If you think that your business, organization, or governmental
jurisdiction qualifies as a small entity and that this rule would have
a significant economic impact on it, please submit a comment (see
ADDRESSES) explaining why you think it qualifies and how and to what
degree this rule would economically affect it.
3. Assistance for Small Entities
    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 proposed 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, above. The Coast Guard will not retaliate against small
entities that question or complain about this proposed rule or any
policy or action of the Coast Guard.
4. Collection of Information
    This proposed rule will not call for a new collection of
information under the Paperwork Reduction Act of 1995 (44 U.S.C. 3501-
3520.).
5. Federalism
    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 proposed rule under that Order and
determined that this rule does not have implications for federalism.
6. 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.
7. 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 proposed rule would not
result in such an expenditure, we do discuss the effects of this rule
elsewhere in this preamble.
8. Taking of Private Property
    This proposed rule would not cause a taking of private property or
otherwise have taking implications under Executive Order 12630,
Governmental Actions and Interference with Constitutionally Protected
Property Rights.
9. Civil Justice Reform
    This proposed rule meets applicable standards in sections 3(a) and
3(b)(2) of Executive Order 12988, Civil Justice Reform, to minimize
litigation, eliminate ambiguity, and reduce burden.
10. Protection of Children From Environmental Health Risks
    We have analyzed this proposed rule under Executive Order 13045,
Protection of Children from Environmental Health Risks and Safety
Risks. This rule is not an economically significant rule and would not
create an environmental risk to health or risk to safety that might
disproportionately affect children.
11. Indian Tribal Governments
    This proposed 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.
12. Energy Effects
    This proposed rule is not a ``significant energy action'' under
Executive Order 13211, Actions Concerning Regulations That
Significantly Affect Energy Supply, Distribution, or Use.
13. Technical Standards
    This proposed rule does not use technical standards. Therefore, we
did not consider the use of voluntary consensus standards.
14. Environment
    We have analyzed this proposed 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 (NEPA) (42 U.S.C. 4321-4370f), and
have made a preliminary 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 proposed rule
involves establishing a safety zone for a fireworks display launch site
and fallout area and is expected to have no impact on the water or
environment. This zone is designed to protect mariners and spectators
from the hazards associated with aerial fireworks displays. This rule
is categorically excluded from further review under paragraph 34 (g) of
Figure 2-1 of the Commandant Instruction. A preliminary environmental
analysis checklist supporting this determination and a Categorical
Exclusion Determination are 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 proposed
rule.

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; 46 U.S.C. Chapter 701, 3306, 3703;
50 U.S.C. 191, 195; 33 CFR 1.05-1, 6.04-1, 6.04-6, 160.5; Pub. L.
107-295, 116 Stat. 2064; Department of Homeland Security Delegation
No. 0170.1.

0
2. Add temporary Sec.  165.T05-0077 to read as follows:

Sec.  165.T05-0077  Safety Zone, Pasquotank River; Elizabeth City, NC.

    (a) Definitions. For the purposes of this section, Captain of the
Port means the Commander, Sector North Carolina. Representative means
any Coast Guard commissioned, warrant, or petty officer who has been
authorized to act on the behalf of the Captain of the Port.
    (b) Location. The following area is a safety zone: Specified waters
of the Captain of the Port, Sector North Carolina, as defined in 33 CFR
3.25-20, all waters of the Pasquotank River within a 300 yard radius of
the

fireworks launch barge in approximate position latitude 36[deg]17'47''
N longitude 076[deg]12'17'' W, located near Machelhe Island.
    (c) Regulations. (1) The general regulations contained in Sec.
165.23 of this part apply to the area described in paragraph (b) of
this section.
    (2) Persons or vessels requiring entry into or passage through any
portion of the safety zone must first request authorization from the
Captain of the Port, or a designated representative, unless the Captain
of the Port previously announced via Marine Safety Radio Broadcast on
VHF Marine Band Radio channel 22 (157.1 MHz) that this regulation will
not be enforced in that portion of the safety zone. The Captain of the
Port can be contacted at telephone number<PHONE_NUMBER> or by radio on
VHF Marine Band Radio, channels 13 and 16.
    (d) Enforcement. The U.S. Coast Guard may be assisted in the patrol
and enforcement of the zone by Federal, State, and local agencies.
    (e) Enforcement period. This section will be enforced on May 17,
2014 from 8 p.m. to 11 p.m. unless cancelled earlier by the Captain of
the Port.

    Dated: March 18, 2014.
S.R. Murtagh,
Captain, U.S. Coast Guard, Captain of the Port.
[FR Doc. 2014-06849 Filed 3-27-14; 8:45 am]
BILLING CODE 9110-04-P