[Federal Register Volume 76, Number 165 (Thursday, August 25, 2011)]
[Proposed Rules]
[Pages 53082-53086]
[FR Doc No: 2011-21709]

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Proposed Rules
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains notices to the public of
the proposed issuance of rules and regulations. The purpose of these
notices is to give interested persons an opportunity to participate in
the rule making prior to the adoption of the final rules.

========================================================================

Federal Register / Vol. 76, No. 165 / Thursday, August 25, 2011 /
Proposed Rules

DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

44 CFR Part 67

[Docket ID FEMA-2011-0002; Internal Agency Docket No. FEMA-B-1213]

Proposed Flood Elevation Determinations

AGENCY: Federal Emergency Management Agency, DHS.

ACTION: Proposed rule.

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SUMMARY: Comments are requested on the proposed Base (1% annual-chance)
Flood Elevations (BFEs) and proposed BFE modifications for the
communities listed in the table below. The purpose of this proposed
rule is to seek general information and comment regarding the proposed
regulatory flood elevations for the reach described by the downstream
and upstream locations in the table below. The BFEs and modified BFEs
are a part of the floodplain management measures that the community is
required either to adopt or to show evidence of having in effect in
order to qualify or remain qualified for participation in the National
Flood Insurance Program (NFIP). In addition, these elevations, once
finalized, will be used by insurance agents and others to calculate
appropriate flood insurance premium rates for new buildings and the
contents in those buildings.

DATES: Comments are to be submitted on or before November 23, 2011.

ADDRESSES: The corresponding preliminary Flood Insurance Rate Map
(FIRM) for the proposed BFEs for each community is available for
inspection at the community's map repository. The respective addresses
are listed in the table below.
    You may submit comments, identified by Docket No. FEMA-B-1213, to
Luis Rodriguez, Chief, Engineering Management Branch, Federal Insurance
and Mitigation Administration, Federal Emergency Management Agency, 500
C Street, SW., Washington, DC 20472,<PHONE_NUMBER>, or (e-mail)
<EMAIL_ADDRESS>
FOR FURTHER INFORMATION CONTACT: Luis Rodriguez, Chief, Engineering
Management Branch, Federal Insurance and Mitigation Administration,
Federal Emergency Management Agency, 500 C Street, SW., Washington, DC
20472,<PHONE_NUMBER>, or (e-mail<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: The Federal Emergency Management Agency
(FEMA) proposes to make determinations of BFEs and modified BFEs for
each community listed below, in accordance with section 110 of the
Flood Disaster Protection Act of 1973, 42 U.S.C. 4104, and 44 CFR
67.4(a).
    These proposed BFEs and modified BFEs, together with the floodplain
management criteria required by 44 CFR 60.3, are the minimum that are
required. They should not be construed to mean that the community must
change any existing ordinances that are more stringent in their
floodplain management requirements. The community may at any time enact
stricter requirements of its own or pursuant to policies established by
other Federal, State, or regional entities. These proposed elevations
are used to meet the floodplain management requirements of the NFIP and
also are used to calculate the appropriate flood insurance premium
rates for new buildings built after these elevations are made final,
and for the contents in those buildings.
    Comments on any aspect of the Flood Insurance Study and FIRM, other
than the proposed BFEs, will be considered. A letter acknowledging
receipt of any comments will not be sent.
    National Environmental Policy Act. This proposed rule is
categorically excluded from the requirements of 44 CFR part 10,
Environmental Consideration. An environmental impact assessment has not
been prepared.
    Regulatory Flexibility Act. As flood elevation determinations are
not within the scope of the Regulatory Flexibility Act, 5 U.S.C. 601-
612, a regulatory flexibility analysis is not required.
    Executive Order 12866, Regulatory Planning and Review. This
proposed rule is not a significant regulatory action under the criteria
of section 3(f) of Executive Order 12866, as amended.
    Executive Order 13132, Federalism. This proposed rule involves no
policies that have federalism implications under Executive Order 13132.
    Executive Order 12988, Civil Justice Reform. This proposed rule
meets the applicable standards of Executive Order 12988.

List of Subjects in 44 CFR Part 67

    Administrative practice and procedure, Flood insurance, Reporting
and recordkeeping requirements.

    Accordingly, 44 CFR part 67 is proposed to be amended as follows:

PART 67--[AMENDED]

    1. The authority citation for part 67 continues to read as follows:

    Authority:  42 U.S.C. 4001 et seq.; Reorganization Plan No. 3 of
1978, 3 CFR, 1978 Comp., p. 329; E.O. 12127, 44 FR 19367, 3 CFR,
1979 Comp., p. 376.

Sec.  67.4  [Amended]

    2. The tables published under the authority of Sec.  67.4 are
proposed to be amended as follows:

----------------------------------------------------------------------------------------------------------------
                                                                  * Elevation in feet
                                                                (NGVD)  + Elevation in
                                                                feet (NAVD)
                                                                  Depth in feet above
         Flooding source(s)            Location of referenced       ground  [caret]        Communities affected
                                            elevation **          Elevation in meters
                                                                         (MSL)
                                                              --------------------------
                                                                Effective     Modified
----------------------------------------------------------------------------------------------------------------
                                 Coos County, New Hampshire (All Jurisdictions)
----------------------------------------------------------------------------------------------------------------
Androscoggin River..................  Approximately 3.5 miles         None         +691  City of Berlin, Town of
                                       downstream of Meadow                               Dummer, Town of Errol,
                                       Road.                                              Town of Gorham, Town
                                                                                of Milan, Town of
                                                                                Shelburne,
                                                                                Unincorporated Areas
                                                                                of Coos County.
                                      At the downstream side          None        +1231
                                       of Umbagog Lake Dam.
Clear Stream........................  At the Androscoggin             None        +1222  Town of Errol.
                                       River confluence.
                                      Approximately 1.1 miles         None        +1227
                                       upstream of White
                                       Mountain Highway.
Clement Brook.......................  At the Androscoggin             None         +700  Town of Shelburne.
                                       River confluence.
                                      Approximately 0.7 mile          None         +752
                                       upstream of U.S. Route
                                       2.
Connecticut River...................  Approximately 0.8 mile          +861         +865  Town of Stratford.
                                       downstream of Janice
                                       Peaslee Bridge
                                       (formerly Maidstone-
                                       Stratford Hollow
                                       Bridge).
                                      Approximately 1,180             +864         +865
                                       feet downstream of
                                       Janice Peaslee Bridge
                                       (formerly Maidstone-
                                       Stratford Hollow
                                       Bridge).
Connecticut River...................  Approximately 2.1 miles         None         +932  Town of Clarksville,
                                       upstream of State                                  Town of Colebrook,
                                       Route 105.                                         Town of Columbia, Town
                                                                                of Stewartstown.
                                      Approximately 0.6 mile          None        +1106
                                       downstream of U.S.
                                       Route 3.
Dead River..........................  At the Androscoggin             +947         +950  City of Berlin.
                                       River confluence.
                                      Approximately 0.4 mile         +1048        +1049
                                       upstream of Hillside
                                       Avenue.
Greenough Brook.....................  At the Androscoggin             None        +1226  Town of Errol.
                                       River confluence.
                                      At the downstream side          None        +1230
                                       of the Akers Pond Dam.
Moose Brook.........................  At the Androscoggin             +794         +793  Town of Gorham.
                                       River confluence.
                                      Approximately 840 feet          None        +1128
                                       upstream of Jimtown
                                       Road.
Moose Brook Split...................  At the Moose Brook              None         +924  Town of Gorham.
                                       confluence.
                                      At the Moose Brook              None         +937
                                       divergence.
Moose River.........................  At the Androscoggin             +786         +787  Town of Gorham.
                                       River confluence.
                                      Approximately 0.4 mile          +831         +830
                                       upstream of Main
                                       Street.
Peabody River.......................  At the Androscoggin             None         +755  Town of Gorham, Town of
                                       River confluence.                                  Shelburne.
                                      Approximately 1.8 miles        +1054        +1060
                                       upstream of Glen Road.
Tinker Brook........................  At the Androscoggin             +846         +842  Town of Gorham.
                                       River confluence.
                                      Approximately 0.9 mile          None        +1206
                                       upstream of Main
                                       Street.
----------------------------------------------------------------------------------------------------------------
* National Geodetic Vertical Datum.
+ North American Vertical Datum.
 Depth in feet above ground.
[caret] Mean Sea Level, rounded to the nearest 0.1 meter.
** BFEs to be changed include the listed downstream and upstream BFEs, and include BFEs located on the stream
 reach between the referenced locations above. Please refer to the revised Flood Insurance Rate Map located at
 the community map repository (see below) for exact locations of all BFEs to be changed.

Send comments to Luis Rodriguez, Chief, Engineering Management Branch, Federal Insurance and Mitigation
 Administration, Federal Emergency Management Agency, 500 C Street, SW., Washington, DC 20472.

                                                    ADDRESSES
City of Berlin
Maps are available for inspection at City Hall, 168 Main Street, Berlin, NH 03570.

Town of Clarksville
Maps are available for inspection at the Town Office, 408 New Hampshire Route 145, Clarksville, NH 03592.

Town of Colebrook
Maps are available for inspection at the Town Hall, 17 Bridge Street, Colebrook, NH 03576.

Town of Columbia
Maps are available for inspection at the Town Hall, 1679 U.S. Route 3, Columbia, NH 03576.

Town of Dummer
Maps are available for inspection at the Town Office, 75 Hill Road, Dummer, NH 03588.

Town of Errol
Maps are available for inspection at the Selectmen's Office, 33 Main Street, Errol, NH 03579.

Town of Gorham
Maps are available for inspection at the Town Hall, 20 Park Street, Gorham, NH 03581.

Town of Milan
Maps are available for inspection at the Municipal Building, 20 Bridge Street, Milan, NH 03588.

Town of Shelburne
Maps are available for inspection at the Town Hall, 74 Village Road, Shelburne, NH 03581.

Town of Stewartstown
Maps are available for inspection at the Stewartstown Town Clerk's Office, 888 Washington Street, West
 Stewartstown, NH 03597.

Town of Stratford
Maps are available for inspection at the Town Hall, 10 Town Common Road, Stratford, NH 03590.

                                       Unincorporated Areas of Coos County
Maps are available for inspection at the Coos County Commissioner's Office, 136 County Farm Road, West
 Stewartstown, NH 03597.
----------------------------------------------------------------------------------------------------------------
                            Edgecombe County, North Carolina, and Incorporated Areas
----------------------------------------------------------------------------------------------------------------
Cowlick Creek.......................  At the Tar River                 +79          +78  City of Rocky Mount.
                                       confluence.
                                      At the Parkers Canal             +80          +79
                                       confluence.
Tar River...........................  Approximately 0.5 mile           +79          +78  City of Rocky Mount,
                                       downstream of the                                  Unincorporated Areas
                                       Cowlick Creek                                      of Edgecombe County.
                                       confluence.
                                      Approximately 1,100              +82          +81
                                       feet downstream of
                                       Atlantic Avenue.
----------------------------------------------------------------------------------------------------------------
* National Geodetic Vertical Datum.
+ North American Vertical Datum.
 Depth in feet above ground.
[caret] Mean Sea Level, rounded to the nearest 0.1 meter.
** BFEs to be changed include the listed downstream and upstream BFEs, and include BFEs located on the stream
 reach between the referenced locations above. Please refer to the revised Flood Insurance Rate Map located at
 the community map repository (see below) for exact locations of all BFEs to be changed.

Send comments to Luis Rodriguez, Chief, Engineering Management Branch, Federal Insurance and Mitigation
 Administration, Federal Emergency Management Agency, 500 C Street, SW., Washington, DC 20472.

                                                    ADDRESSES

City of Rocky Mount
Maps are available for inspection at the Planning Department, 331 South Franklin Street, Rocky Mount, NC 27802.

                                    Unincorporated Areas of Edgecombe County
Maps are available for inspection at the Edgecombe County Administration Building, 201 Saint Andrews Street,
 Tarboro, NC 27886.
----------------------------------------------------------------------------------------------------------------
                                   Smith County, Texas, and Incorporated Areas
----------------------------------------------------------------------------------------------------------------
Black Fork Creek....................  Approximately 0.43 mile         None         +380  City of Tyler,
                                       upstream of the                                    Unincorporated Areas
                                       Prairie Creek West                                 of Smith County.
                                       confluence.
                                      Approximately 0.71 mile         +530         +531
                                       upstream of East 5th
                                       Street.
Tributary BF-1......................  At the Black Fork Creek         +434         +436  City of Tyler,
                                       confluence.                                        Unincorporated Areas
                                                                                of Smith County.
                                      Approximately 1.2 miles         None         +476
                                       upstream of Loop 323.
Tributary BF-M-1....................  At the Black Fork Creek         +495         +496  City of Tyler.
                                       confluence.
                                      Approximately 1,475             None         +523
                                       feet upstream of
                                       Devine Street.
Tributary D.........................  At the Black Fork Creek         +468         +469  City of Tyler.
                                       confluence.
                                      Approximately 1,150             None         +541
                                       feet upstream of
                                       Donnybrook Avenue.
Tributary D-1.......................  At the Black Fork Creek         +477         +473  City of Tyler.
                                       Tributary D confluence.
                                      Approximately 225 feet          None         +511
                                       upstream of North
                                       Broadway Avenue.
Tributary D-2.......................  At the Black Fork Creek         +488         +487  City of Tyler.
                                       Tributary D confluence.
                                      Approximately 275 feet          None         +508
                                       upstream of Center
                                       Street.
Tributary D-3.......................  At the Black Fork Creek         +492         +488  City of Tyler.
                                       Tributary D confluence.
                                      Approximately 850 feet          None         +512
                                       upstream of East
                                       Houston Street.
Tributary D-4.......................  At the Black Fork Creek         None         +527  City of Tyler.
                                       Tributary D confluence.
                                      Approximately 125 feet          None         +576
                                       upstream of 5th Street.
Tributary D-5.......................  At the Black Fork Creek         None         +541  City of Tyler.
                                       Tributary D confluence.
                                      Approximately 300 feet          None         +571
                                       upstream of West 2nd
                                       Street.
Butler Creek........................  Approximately 340 feet          None         +361  City of Tyler,
                                       upstream of FM 2661.                               Unincorporated Areas
                                                                                of Smith County.

                                      Approximately 640 feet          None         +457
                                       upstream of State
                                       Route 155.
Gilley Creek........................  Approximately 310 feet          None         +379  City of Tyler,
                                       downstream of FM 848.                              Unincorporated Areas
                                                                                of Smith County.
                                      Approximately 150 feet          None         +474
                                       upstream of University
                                       Boulevard.
Tributary G-1.......................  At the Gilley Creek             None         +426  City of Tyler,
                                       confluence.                                        Unincorporated Areas
                                                                                of Smith County.
                                      Approximately 1.14              None         +478
                                       miles upstream of
                                       County Road 2120.
Harris Creek........................  Approximately 300 feet          None         +329  Unincorporated Areas of
                                       upstream of the Ray                                Smith County.
                                       Creek confluence.
                                      Approximately 3.37              None         +468
                                       miles upstream of
                                       State Route 31.
Henshaw Creek.......................  At the West Mud Creek           +381         +383  Unincorporated Areas of
                                       confluence.                                        Smith County.
                                      Approximately 0.71 mile         +475         +477
                                       upstream of County
                                       Road 165.
Indian Creek........................  Approximately 490 feet          None         +349  City of Tyler,
                                       upstream of the Lake                               Unincorporated Areas
                                       Palestine confluence.                              of Smith County.
                                      Approximately 0.89 mile         None         +496
                                       upstream of Loop 323.
Ray Creek...........................  Approximately 0.37 mile         None         +332  Unincorporated Areas of
                                       upstream of the Harris                             Smith County.
                                       Creek confluence.
                                      Approximately 525 feet          None         +436
                                       upstream of Old
                                       Gladwater Highway.
Shackleford Creek...................  At the West Mud Creek           +380         +383  City of Tyler,
                                       confluence.                                        Unincorporated Areas
                                                                                of Smith County.
                                      Approximately 0.75 mile         None         +501
                                       upstream of Paluxy
                                       Drive (FM 756).
West Mud Creek......................  Approximately 200 feet          +360         +361  City of Tyler,
                                       upstream of FM 344                                 Unincorporated Areas
                                       East.                                              of Smith County.
                                      Approximately 210 feet          None         +506
                                       upstream of Loop 323.
Tributary 11........................  At the West Mud Creek           +417         +419  City of Tyler.
                                       confluence.
                                      Approximately 1,950             None         +479
                                       feet upstream of
                                       Woodlands Drive.
Tributary B.........................  Approximately 125 feet          +468         +467  City of Tyler.
                                       upstream of the West
                                       Mud Creek confluence.
                                      Approximately 470 feet          None         +505
                                       upstream of Paluxy
                                       Drive.
Tributary M-1.......................  At the West Mud Creek           +442         +444  City of Tyler.
                                       Tributary M-A
                                       confluence.
                                      Approximately 0.54 mile         +487         +485
                                       upstream of North Star
                                       Boulevard.
Tributary M-2.......................  Approximately 425 feet          +464         +463  City of Tyler.
                                       upstream of the West
                                       Mud Creek confluence.
                                      Approximately 1,510             +481         +469
                                       feet upstream of
                                       Barbee Drive.
Tributary M-A.......................  Approximately 200 feet          +445         +444  City of Tyler.
                                       upstream of the West
                                       Mud Creek confluence.
                                      Approximately 80 feet           None         +509
                                       upstream of Woodland
                                       Hills Drive.
Tributary M-A.1.....................  At the West Mud Creek           +472         +471  City of Tyler.
                                       Tributary M-A
                                       confluence.
                                      Approximately 160 feet          None         +493
                                       upstream of Charleston
                                       Drive.
Tributary M-A.2.....................  At the West Mud Creek           None         +487  City of Tyler.
                                       Tributary M-A
                                       confluence.
                                      Approximately 0.56 mile         None         +532
                                       upstream of Loop 323.
Tributary M-C.......................  Approximately 450 feet          +478         +477  City of Tyler.
                                       upstream of the West
                                       Mud Creek confluence.
                                      Approximately 75 feet           None         +531
                                       upstream of Azalea
                                       Drive.
Tributary M-C.1.....................  Approximately 160 feet          +489         +488  City of Tyler.
                                       upstream of the West
                                       Mud Creek Tributary M-
                                       C confluence.
                                      At the upstream side of         None         +510
                                       Shannon Drive.
Tributary M-C.2.....................  At the West Mud Creek           None         +502  City of Tyler.
                                       Tributary M-C
                                       confluence.
                                      Approximately 1,225             None         +524
                                       feet upstream of Fair
                                       Lane.
Wiggins Creek.......................  At the downstream side          None         +327  Unincorporated Areas of
                                       of the railroad.                                   Smith County.
                                      Approximately 0.83 mile         None         +373
                                       upstream of Harris
                                       Creek Church Road.

Willow Creek........................  At the Black Fork Creek         +419         +423  City of Tyler,
                                       confluence.                                        Unincorporated Areas
                                                                                of Smith County.
                                      Approximately 375 feet          None         +522
                                       upstream of West Front
                                       Street.
----------------------------------------------------------------------------------------------------------------
* National Geodetic Vertical Datum.
+ North American Vertical Datum.
 Depth in feet above ground.
[caret] Mean Sea Level, rounded to the nearest 0.1 meter.
** BFEs to be changed include the listed downstream and upstream BFEs, and include BFEs located on the stream
 reach between the referenced locations above. Please refer to the revised Flood Insurance Rate Map located at
 the community map repository (see below) for exact locations of all BFEs to be changed.

Send comments to Luis Rodriguez, Chief, Engineering Management Branch, Federal Insurance and Mitigation
 Administration, Federal Emergency Management Agency, 500 C Street, SW., Washington, DC 20472.

                                                    ADDRESSES

City of Tyler
Maps are available for inspection at the Development Services Office, 423 West Ferguson Street, Tyler, TX 75702.

                                      Unincorporated Areas of Smith County
Maps are available for inspection at the Smith County Courthouse, 100 North Broadway Avenue, Tyler, TX 75702.

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

(Catalog of Federal Domestic Assistance No. 97.022, ``Flood
Insurance.'')

    Dated: August 12, 2011.
Sandra K. Knight,
Deputy Federal Insurance and Mitigation Administrator, Mitigation,
Department of Homeland Security, Federal Emergency Management Agency.
[FR Doc. 2011-21709 Filed 8-24-11; 8:45 am]
BILLING CODE 9110-12-P


[Federal Register Volume 86, Number 213 (Monday, November 8, 2021)]
[Rules and Regulations]
[Pages 61708-61712]
[FR Doc No: 2021-24209]

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ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 713

[EPA-HQ-OPPT-2017-0421; FRL-8523-02-OCSPP]
RIN 2070-AK93

Response to Vacatur of Certain Provisions of the Mercury
Inventory Reporting Rule

AGENCY: Environmental Protection Agency (EPA).

ACTION: Final rule.

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

SUMMARY: The Environmental Protection Agency (EPA) is revising
regulations associated with persons who must report data to the
Agency's mercury inventory established under the Toxic Substances
Control Act (TSCA). Those reporting requirements were set forth in a
final rule entitled ``Reporting Requirements for TSCA Mercury
Inventory: Mercury'' (hereafter ``mercury inventory reporting rule'').
These revisions implement an order issued by the United States Court of
Appeals for the Second Circuit (Second Circuit), on June 5, 2020.

DATES: This final rule is effective on December 8, 2021.

ADDRESSES: The docket for this action, identified by docket
identification (ID) number EPA-HQ-OPPT-2017-0421, is available at
https://www.regulations.gov or at the Office of Pollution Prevention
and Toxics Docket (OPPT Docket), Environmental Protection Agency Docket
Center (EPA/DC), West William Jefferson Clinton Bldg., Rm. 3334, 1301
Constitution Ave. NW, Washington, DC. The telephone number for the
Public Reading Room is<PHONE_NUMBER>, and the telephone number for the
OPPT Docket is<PHONE_NUMBER>.
    Due to the public health concerns related to COVID-19, the EPA
Docket Center (EPA/DC) and Reading Room is closed to visitors with
limited exceptions. The staff continues to provide remote customer
service via email, phone, and webform. For the latest status
information on EPA/DC services and docket access, visit https://www.epa.gov/dockets.

FOR FURTHER INFORMATION CONTACT:
    For technical information contact: Thomas Groeneveld, Existing
Chemicals Resource Management Division, Office of Pollution Prevention
and Toxics, Environmental Protection Agency, 1200 Pennsylvania Ave. NW,
Washington, DC 20460-0001; telephone number:<PHONE_NUMBER>; email
address: [email protected].
    For general information contact: The TSCA-Hotline, ABVI-Goodwill,
422 South Clinton Ave., Rochester, NY 14620; telephone number: (202)
554-1404; email address: [email protected].

SUPPLEMENTARY INFORMATION:

I. Executive Summary

A. Does this action apply to me?

    You may be potentially affected by this action if you import
mercury-added products. The following list of North American Industrial
Classification System (NAICS) codes is not intended to be exhaustive,
but rather provides a guide to help readers determine whether this
document applies to them. Potentially affected entities may include the
following:
     Gold ore mining (NAICS code 212221).
     Lead ore and zinc ore mining (NAICS code 212231).
     All other metal ore mining (NAICS code 212299).
     Asphalt shingle and coating materials manufacturing (NAICS
code 324122).
     Synthetic dye and pigment manufacturing (NAICS code
325130).
     Other basic inorganic chemical manufacturing (NAICS code
325180).
     All other basic organic chemical manufacturing (NAICS code
325199).
     Plastics material and resin manufacturing (NAICS code
325211).
     Pesticide and other agricultural chemical manufacturing
(NAICS code 325320).
     Medicinal and botanical manufacturing (NAICS code 325411).
     Pharmaceutical preparation manufacturing (NAICS code
325412).
     Biological product (except diagnostic) manufacturing
(NAICS code 325414).
     Paint and coating manufacturing (NAICS code 325510).
     Adhesive manufacturing (NAICS code 325520).
     Custom compounding of purchased resins (NAICS code
325991).
     Photographic film, paper, plate, and chemical
manufacturing (NAICS code 325992).
     All other miscellaneous chemical product and preparation
manufacturing (NAICS code 325998).
     Unlaminated plastics film and sheet (except packaging)
manufacturing (NAICS code 326113).
     Unlaminated plastics profile shape manufacturing (NAICS
code 326121).
     Urethane and other foam product (except polystyrene)
manufacturing (NAICS code 326150).
     All other plastics product manufacturing (NAICS code
326199).
     Tire manufacturing (NAICS code 326211).
     All other rubber product manufacturing (NAICS code
326299).
     Iron and steel mills and ferroalloy manufacturing (NAICS
code 331110).
     Rolled steel shape manufacturing (NAICS code 331221).

     Alumina refining and primary aluminum production (NAICS
code 331313).
     Secondary smelting and alloying of aluminum (NAICS code
331314).
     Nonferrous metal (except aluminum) smelting and refining
(NAICS code 331410).
     Secondary smelting, refining, and alloying of nonferrous
metal (except copper and aluminum) (NAICS code 331492).
     Iron foundries (NAICS code 331511).
     Steel foundries (except investment) (NAICS code 331513).
     Fabricated structural metal manufacturing (NAICS code
332312).
     Industrial valve manufacturing (NAICS code 332911).
     Ammunition except small arms manufacturing (NAICS code
332993).
     Small arms, ordnance, and ordnance accessories
manufacturing (NAICS code 332994).
     All other miscellaneous fabricated metal product
manufacturing (NAICS code 332999).
     Food product machinery manufacturing (NAICS code 333294).
     Office machinery manufacturing (NAICS code 333313).
     Other commercial and service industry machinery
manufacturing (NAICS code 333319).
     Heating equipment (except warm air furnaces) manufacturing
(NAICS code 333414).
     Air-conditioning and warm air heating equipment and
commercial and industrial refrigeration equipment manufacturing (NAICS
code 333415).
     Pump and pumping equipment manufacturing (NAICS code
333911).
     Bare printed circuit board manufacturing (NAICS code
334412).
     Semiconductor and related device manufacturing (NAICS code
334413).
     Other electronic component manufacturing (NAICS code
334419).
     Electromedical and electrotherapeutic apparatus
manufacturing (NAICS code 334510). Search, detection, navigation,
guidance, aeronautical, and nautical system and instrument
manufacturing (NAICS code 334511).
     Automatic environmental control manufacturing for
residential, commercial, and appliance use (NAICS code 334512).
     Instruments and related products manufacturing for
measuring, displaying, and controlling industrial process variables
(NAICS code 334513).
     Totalizing fluid meter and counting device manufacturing
(NAICS code 334514).
     Instrument manufacturing for measuring and testing
electricity and electrical signals (NAICS code 334515).
     Analytical laboratory instrument manufacturing (NAICS code
334516).
     Watch, clock, and part manufacturing (NAICS code 334518).
     Other measuring and controlling device manufacturing
(NAICS code 334519).
     Electric lamp bulb and part manufacturing (NAICS code
335110).
     Commercial, industrial, and institutional electric
lighting fixture manufacturing (NAICS code 335122).
     Other lighting equipment manufacturing (NAICS code
335129).
     Electric house wares and household fan manufacturing
(NAICS code 335211).
     Household vacuum cleaner manufacturing (NAICS code
335212).
     Household cooking appliance manufacturing (NAICS code
335221).
     Household refrigerator and home freezer manufacturing
(NAICS code 335222).
     Household laundry equipment manufacturing (NAICS code
335224).
     Other major household appliance manufacturing (NAICS code
335228).
     Switchgear and switchboard apparatus manufacturing (NAICS
code 335313).
     Relay and industrial control manufacturing (NAICS code
335314).
     Primary battery manufacturing (NAICS code 335912).
     Current-carrying wiring device manufacturing (NAICS code
335931).
     All other miscellaneous electrical equipment and component
manufacturing (NAICS code 335999).
     Automobile manufacturing (NAICS code 336111).
     Light truck and utility vehicle manufacturing (NAICS code
336112).
     Heavy duty truck manufacturing (NAICS code 336120).
     Motor home manufacturing (NAICS code 336213).
     Travel trailer and camper manufacturing (NAICS code
336214).
     Other aircraft parts and auxiliary equipment manufacturing
(NAICS code 336413).
     Boat building (NAICS code 336612).
     Motorcycles and parts manufacturing (NAICS code 336991).
     Surgical and medical instrument manufacturing (NAICS code
339112).
     Costume jewelry and novelty manufacturing (NAICS code
339914).
     Game, toy, and children's vehicle manufacturing (NAICS
code 339932).
     Sign manufacturing (NAICS code 339950).
     Other chemical and allied products merchant wholesalers
(NAICS code 424690).
     Research and development in the physical, engineering, and
life sciences (except biotechnology) (NAICS code 541712).
     Hazardous waste treatment and disposal (NAICS code
562211).
     Other nonhazardous waste treatment and disposal (NAICS
code 562219).
     Materials recovery facilities (NAICS code 562920).
     National security (NAICS code 928110).

B. What action is the Agency taking?

    In June 2018, EPA finalized a rule to require reporting from
persons who manufacture (including import) mercury or mercury-added
products, or otherwise intentionally use mercury in a manufacturing
process (Ref. 1). That rule was challenged in the Second Circuit by the
Natural Resources Defense Council and several state attorneys general
in July 2018. Oral arguments were held on November 20, 2019, and the
court issued its decision on June 5, 2020. The petitioners argued that
three exemptions to the reporting requirements violated the statutory
mandate within TSCA section 8(b)(10). The Agency argued that the three
exemptions were lawful because EPA determined certain reporting to be
duplicative or burdensome per existing EPA or other mercury-related
reporting requirements. Duplicative or overly burdensome reporting
requirements are prohibited under TSCA section 8(a)(5). The Agency
prevailed on two issues, but the Second Circuit vacated the exemption
at 40 CFR 713.7(b)(2) for persons who import pre-assembled products
that contain a mercury-added component (Ref. 2). As a result, such
persons are now required to report pursuant to 40 CFR 713.7(b). This
rule is effectuating the vacatur ordered by the Second Circuit by
making necessary amendments to the corresponding text in 40 CFR
713.7(b).

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

    EPA is issuing this final rule pursuant to TSCA section 8(b)(10)(D)
(15 U.S.C. 2607(b)(10)(D)), which authorizes EPA to require reporting
in order to assist in preparing the inventory of mercury supply, use
and trade in the United States. In addition, section 553 of the
Administrative Procedure Act (APA), 5 U.S.C. 553(b)(3)(B), provides
that, when an agency for good cause finds that notice and public
procedures are impracticable, unnecessary, or contrary to the public
interest, the agency may issue a rule without providing notice and an
opportunity for public comment.

EPA has determined that there is good cause for revising these
provisions without prior proposal and opportunity for comment, because
these revisions simply undertake the ministerial task of implementing
the court order vacating an exemption at 40 CFR 713.7(b)(2) and making
the necessary amendments to corresponding text in 40 CFR 713.7(b). As a
matter of law, the order issued by the Second Circuit on June 5, 2020
vacated the reporting exemption for persons who manufacture (including
import) a mercury-added product where that person is ``engaged only in
the import of a product that contains a component that is a mercury-
added product.'' It is, therefore, unnecessary to provide notice and an
opportunity for comment on this action, which merely carries out the
court's order.

D. Which regulations is EPA removing and replacing?

    EPA is effectuating the Second Circuit vacatur of the exemption for
persons who manufacture (including import) a mercury-added product
where that person is ``engaged only in the import of a product that
contains a component that is a mercury-added product.'' Therefore, the
current text at 40 CFR 713.7(b)(2) will be removed and replaced (with
appropriate textual and numbering updates) with the text currently
found at 40 CFR 713.7(b)(3).

E. What are the estimated burdens associated with the removed and
replaced regulations?

    EPA has prepared an economic analysis of the potential impacts
associated with this rulemaking (Ref. 3). This economic analysis
estimates and evaluates the total costs and benefits for additional
reporters to the mercury inventory reporting rule due to this
rulemaking (i.e., those that import products that contain a component
that is a mercury-added product). EPA is considering an estimate of 756
as the number of sites potentially subject to the amended rule, which,
under the revised requirements, is now applicable to imports of
products that contain a component that is a mercury-added product. EPA
estimates that as many as 657 sites will submit reports due to the
revised requirements. This is the incremental difference between the
number of actual reporters to the mercury inventory reporting rule
during the 2019 submission period, and the expected number of total
reporters based on the number of entities that report to the Interstate
Mercury Education & Reduction Clearinghouse (IMERC) or to EPA's
Chemical Data Reporting (CDR) or Toxics Release Inventory (TRI). More
details on the methodology used can be found in the Agency's economic
analysis (Ref. 3).
    The chief benefit of the final rule is the collection of detailed
data on mercury, which will serve as a basis to recommend actions to
further reduce mercury use in the United States, as required at TSCA
section 8(b)(10)(C). Another benefit is the use of information
collected under the final rule to help the United States implement its
obligations under the Minamata Convention, a multilateral environmental
agreement that addresses specific human activities that are
contributing to widespread mercury pollution. While there are no
quantified benefits for the final rule, the statutory mandates at TSCA
sections 8(b)(10)(C) and (D) (15 U.S.C. 2607(b)(10)(C) and (D)),
specifically call for and authorizes a rule to support an inventory of
mercury supply, use, and trade in the United States, to identify any
manufacturing processes or products that intentionally add mercury, and
to recommend actions to achieve further reductions in mercury use. As
described in the Agency's economic analysis, unquantified benefits
include providing increased information on mercury and assisting in the
reduction of mercury use (Ref. 3). To the extent that the information
gathered through this rule is used to reduce mercury use, benefits to
society will result from a reduction in exposure.
     Benefits: The final rule will provide information on
mercury and mercury-added products to which the Agency (and the public)
does not currently have access. To the extent that the information
gathered through this final rule is used to reduce mercury use,
benefits to society will result from a reduction in risk.
     Costs: Total reporter (industry) costs the first year were
estimated in 2020$ at $5.1 million, and $3.6 million in subsequent
reporting years. Annualized over 10 years, the reporter costs are $1.5
million at both 3% and 7% discount rates. Agency costs are $729 per
report per year, for an annualized cost of $177,000 and $181,000 at 3%
and 7% discount rates, respectively. Therefore, the total annualized
costs are expected to be approximately $1.7 million at both 3% and 7%
discount rates. The total burden of the rule is expected to be
approximately 212,000 hours over the 10-year analysis period. These
estimates include compliance determination, rule familiarization, CBI
substantiation, electronic reporting, and recordkeeping, in addition to
completing reporting requirements.
     Small Entity Impacts: The final rule will impact 203
companies that meet the U.S. Small Business Administration (SBA)
definitions for their respective NAICS classifications. Among the total
657 sites regulated under the rule, EPA found that the costs of the
rule exceed 3 percent of the value of sales for 2 small businesses, and
an additional 3 small businesses may incur costs at between 1 and 3
percent of the value of sales. EPA is unable to determine whether these
5 small businesses actually import products that contain a component
that is a mercury-added product.
     Environmental Justice and Protection of Children: The
Agency believes that the information collected under this rule, if
finalized, will assist EPA and others in determining the potential
hazards and risks associated with elemental mercury and mercury
compounds. Although not directly impacting environmental justice-
related concerns, this information will enable the Agency to better
protect human health and the environment, including in low-income and
minority communities. The rule is directed at all mercury-added
products that are manufactured or imported into the United States. All
consumers of these chemicals and the products made from them and all
workers who come into contact with these chemicals could benefit if
data regarding the chemicals' health and environmental effects were
developed. Therefore, it does not appear that the costs and the
benefits of the rule will be disproportionately distributed across
different geographic regions or among different categories of
individuals.
     Effects on State, Local, and Tribal Governments:
Government entities are not expected to be subject to the rule's
requirements, which apply to entities that manufacture (including
import) mercury or mercury-added products, or otherwise intentionally
use mercury in a manufacturing process. The final rule does not have a
significant intergovernmental mandate, significant or unique effect on
small governments, or have Federalism implications.

II. References

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

the technical person listed under FOR FURTHER INFORMATION CONTACT.

1. EPA. ``Reporting Requirements for TSCA Mercury Inventory:
Mercury;'' Final Rule. Federal Register (83 FR 30054, June 27, 2018)
(FRL-9979-74).
2. United States Court of Appeals for the Second Circuit. Natural
Resources Defense Council, Inc. and State of Vermont v. United
States Environmental Protection Agency, 961 F.3d 160 (2d. Cir.
2020).
3. EPA. ``Economic Analysis for the Final Rule on Revisions to the
Reporting Requirements for the TSCA Mercury Inventory.''

III. Statutory and Executive Order Reviews

    Additional information about these statutes and Executive Orders
can be found at https://www2.epa.gov/laws-regulations/laws-and-executive-orders.

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

    This action is not a significant regulatory action and was
therefore not submitted to the Office of Management and Budget (OMB)
for review under Executive Orders 12866 (58 FR 51735, October 4, 1993)
and 13563 (76 FR 3821, January 21, 2011).

B. Paperwork Reduction Act (PRA)

    The revised information collection activities in this rule have
been submitted for approval to OMB under the PRA, 44 U.S.C. 3501 et
seq., as part of a request to renew the existing approval under OMB
Control No. 2070-0207. The renewal Information Collection Request (ICR)
document that EPA prepared has been assigned EPA ICR No. 2567.04. You
can find a copy of the ICR in the docket for this rule, and it is
briefly summarized here. The revised information collection
requirements are not enforceable until OMB approves them.
    The ICR renewal request explains the necessary adjustments related
to the Second Circuit vacatur. Applying the reporting requirements
identified in the 2018 final rule to persons who manufacture (including
import) a mercury-added product will provide EPA with more complete
information necessary to prepare and periodically update an inventory
of mercury supply, use, and trade in the United States, as required by
TSCA section 8(b)(10)(D). These reporting requirements will help the
Agency to prepare subsequent, triennial publications of the inventory,
as well as to carry out the requirement of TSCA section 8(b)(10)(C) to
identify any manufacturing processes or products that intentionally add
mercury and recommend actions, including proposed revisions of Federal
law or regulations, to achieve further reductions in mercury use. EPA
intends to use information collected under the rule to assist in
efforts to reduce the use of mercury in products and processes and to
facilitate reporting on implementation of the Minamata Convention by
the United States. Respondents may claim some of the information
reported to EPA under the final rule as CBI under TSCA section 14. TSCA
section 14(c) requires a supporting statement and certification for
confidentiality claims asserted after June 22, 2016.
    Respondents/affected entities: Manufacturers, importers, and
processors of mercury and mercury-added products.
    Respondent's obligation to respond: Mandatory (15 U.S.C.
2607(b)(10)(D)).
    Estimated number of respondents: 756.
    Frequency of response: Triennially.
    Total estimated annual burden: 17,348 hours (averaged over 3
years). Burden is defined at 5 CFR 1320.3(b).
    Total estimated annual cost: $1,384,999 (averaged over 3 years),
includes $0 annualized capital or operation and maintenance costs.
    Change in burden estimates: Based on the numbers of reporters of
mercury data to the IMERC Mercury-added Products Database, as well as
EPA's TRI program and CDR rule, there will be a change in manufacturers
(including importers) or processors that could respond to this
information collection. The annual public burden for this collection of
information is estimated about 23 hours per respondent. This request
represents a decrease of 9 hours per respondent from that currently in
the OMB inventory, or a total decrease of 20,522 hours (from 72,567 to
52,045 hours). This change reflects a decrease in rule familiarization
burden, a decrease in form completion burden due to mercury export
prohibitions, and changes in the number of estimated respondents.
    An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless it displays a
currently valid OMB control number. The OMB control numbers for the EPA
regulations in 40 CFR are listed in 40 CFR part 9. When OMB approves
the renewal ICR, the Agency will announce that approval in the Federal
Register and publish a technical amendment to 40 CFR part 9 to display
the OMB control number for the approved information collection
activities contained in this final rule.

C. Regulatory Flexibility Act (RFA)

    This action is not subject to the RFA, 5 U.S.C. 601 et seq. The RFA
applies only to rules subject to notice and comment rulemaking
requirements under the APA, 5 U.S.C. 553, or any other statute. This
rule is not subject to notice and comment requirements because the
Agency has invoked the APA ``good cause'' exemption under 5 U.S.C.
553(b).

D. Unfunded Mandates Reform Act (UMRA)

    This action does not contain an unfunded mandate of $100 million or
more as described in UMRA, 2 U.S.C. 1531 through 1538, and does not
significantly or uniquely affect small governments. As such, the
requirements of sections 202, 203, 204, or 205 of UMRA do not apply to
this action.

E. Executive Order 13132: Federalism

    This action does not have federalism implications, as specified in
Executive Order 13132 (64 FR 43255, August 10, 1999). It will not have
substantial direct effects on the states, on the relationship between
the National Government and the states, or on the distribution of power
and responsibilities among the various levels of government.

F. Executive Order 13175: Consultation and Coordination With Indian
Tribal Governments

    This action does not have tribal implications as specified in
Executive Order 13175 (65 FR 67249, November 9, 2000). It will not have
any effect on tribal governments, on the relationship between the
Federal government and the Indian tribes, or on the distribution of
power and responsibilities between the Federal government and Indian
tribes, as specified in the Order. Thus, Executive Order 13175 does not
apply to this action.

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

    EPA interprets Executive Order 13045 (62 FR 19885, April 23, 1997)
as applying only to those regulatory actions that concern environmental
health or safety risks that EPA has reason to believe may
disproportionately affect children, per the definition of ``covered
regulatory action'' in section 2-202 of the Executive Order. This
action is not subject to Executive Order 13045 because it does not
concern an environmental health risk or safety risk.

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

    This final rule is not subject to Executive Order 13211 (66 FR
28355, May 22, 2001) because it is not expected to affect energy
supply, distribution, or use and has not otherwise been designated by
the Administrator of the Office of Information and Regulatory Affairs
as a significant energy action.

I. National Technology Transfer and Advancement Act (NTTAA)

    This action does not involve any technical standards. Therefore,
section 12(d) of NTTAA, 15 U.S.C. 272 note, does not apply to this
action.

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

    This action is not subject to Executive Order 12898 (59 FR 7629,
February 16, 1994) because it does not establish an environmental
health or safety standard. This action establishes an information
requirement and does not affect the level of protection provided to
human health or the environment.

K. Congressional Review Act (CRA)

    This action is subject to the CRA, 5 U.S.C. 801 et seq., 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).

List of Subjects in 40 CFR Part 713

    Environmental protection, Exports, Imports, Manufacturing, Mercury,
Trade practices.

Michael S. Regan,
Administrator.

    Therefore, for the reasons set forth in the preamble, 40 CFR
Chapter I is amended as follows:

PART 713--REPORTING REQUIREMENTS FOR THE TSCA INVENTORY OF MERCURY
SUPPLY, USE, AND TRADE

0
1. The authority citation for part 713 continues to read as follows:

    Authority:  15 U.S.C. 2607(b)(10)(D).

0
2. In Sec.  713.7, paragraph (b) is revised to read as follows:

Sec.  713.7   Persons who must report.

* * * * *
    (b) Any person who manufactures (including imports) a mercury-added
product, except:
    (1) A person who does not manufacture (including import) a mercury-
added product with the purpose of obtaining an immediate or eventual
commercial advantage; or
    (2) A person engaged only in the manufacture (other than import) of
a product that contains a component that is a mercury-added product who
did not first manufacture (including import) the component that is a
mercury-added product; and
* * * * *
[FR Doc. 2021-24209 Filed 11-5-21; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register Volume 85, Number 240 (Monday, December 14, 2020)]
[Notices]
[Pages 80860-80863]
[FR Doc No: 2020-27386]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-90591; File No. SR-PEARL-2020-34]

Self-Regulatory Organizations; MIAX PEARL, LLC; Notice of Filing
and Immediate Effectiveness of a Proposed Rule Change To Amend the
Equities Fee Schedule

December 8, 2020.
    Pursuant to the provisions of Section 19(b)(1) of the Securities
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice
is hereby given that on December 4, 2020, MIAX PEARL, LLC (``MIAX
PEARL'' or ``Exchange'') filed with the Securities and Exchange
Commission (``Commission'') a proposed rule change as described in
Items I, II, and III below, which Items have been prepared by the
Exchange. The Commission is publishing this notice to solicit comments
on the proposed rule change from interested persons.
---------------------------------------------------------------------------

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

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

    The Exchange is filing a proposal to amend the fee schedule
applicable for MIAX PEARL Equities, an equities trading facility of the
Exchange (the ``Fee Schedule'').\3\ The proposed changes are scheduled
to become operative on December 4, 2020.
---------------------------------------------------------------------------

    \3\ See Exchange Rule 1901.
---------------------------------------------------------------------------

    The text of the proposed rule change is available on the Exchange's
website at http://www.miaxoptions.com/rule-filings/pearl at MIAX
PEARL's principal office, and at the Commission's Public Reference
Room.

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

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

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

1. Purpose

    The purpose of the proposed rule change is to amend the Fee
Schedule applicable to MIAX PEARL Equities to amend pricing for
securities priced below $1.00 that are executed on MIAX PEARL Equities.
    The Exchange operates in a highly competitive market in which
market participants can readily direct order flow to competing venues
if they deem fee levels at a particular venue to be excessive or
rebates/incentives to be insufficient. More specifically, the Exchange
is only one of several equities venues (including both registered
exchanges and various alternative trading systems) to which market
participants may direct their order flow and execute their trades.
Indeed, equity trading is currently dispersed across 16 exchanges,\4\
31 alternative trading systems,\5\ and numerous broker-dealer
internalizers and wholesalers, all competing for order flow. Based on
publicly available information, no single registered equities exchange
currently has more than approximately 20% of total market share.\6\
Thus, in such a low-concentrated and highly competitive market, no
single equities trading venue possesses significant pricing power in
the execution of trades, and, the Exchange currently represents a very
small percentage of the overall market.
---------------------------------------------------------------------------

    \4\ See Cboe Global Markets, U.S Equities Market Volume Summary,
available at https://markets.cboe.com/us/equities/market_share/.
    \5\ See FINRA ATS Transparency Data, available at https://otctransparency.finra.org/otctransparency/AtsIssueData. A list of
alternative trading systems registered with the Commission is
available at https://www.sec.gov/foia/docs/atslist.htm.
    \6\ See supra note 4.
---------------------------------------------------------------------------

    The purpose of this proposed fee change is for business and
competitive reasons. As a new entrant into the equities market, the
Exchange initially adopted a fee structure that provided that orders in
securities priced below $1.00 would be free that executed at MIAX PEARL
Equities, regardless of whether they add or remove liquidity to
encourage market participants to submit orders to the Exchange. In
response to competitive forces,\7\ the Exchange recently adopted fees
and rebates for securities priced below $1.00 where it charges a
standard fee of 0.30% of the total dollar value of any transaction in
securities priced below $1.00 that removes liquidity from MIAX PEARL
Equities and provides a standard rebate of 0.30% of the total dollar
value of any transaction in securities priced below $1.00 that adds
displayed or non-displayed liquidity to MIAX PEARL Equities.\8\
---------------------------------------------------------------------------

    \7\ See Securities Exchange Act Release No. 90555 (December 3,
2020) (SR-MEMX-2020-14) (filed November 30, 2020).
    \8\ See SR-PEARL-2020-32 (filed December 2, 2020), available at
https://www.miaxoptions.com/sites/default/files/filing-files/SR_PEARL_2020_32.
---------------------------------------------------------------------------

    Again in response to competitive forces,\9\ the Exchange proposes
herein to lower both the fee and rebate for securities priced below
$1.00. Specifically, the Exchange now

proposes to charge a standard fee of 0.05% of the total dollar value of
any transaction in securities priced below $1.00 that removes liquidity
from MIAX PEARL Equities. The Exchange also now proposes to provide a
standard rebate of 0.05% of the total dollar value of any transaction
in securities priced below $1.00 that adds displayed or non-displayed
liquidity to MIAX PEARL Equities.
---------------------------------------------------------------------------

    \9\ See Members Exchange, LLC (``MEMX'') Trader Alert 20-13: Fee
Schedule Updates Effective December 4, 2020 available at https://info.memxtrading.com/trader-alert-20-13-fee-schedule-updates-effective-december-4-2020/.
---------------------------------------------------------------------------

    The rebate proposed herein for executed orders that add liquidity
in securities priced below $1.00 continues to be intended to increase
order flow in securities priced below $1.00 to MIAX PEARL Equities by
incentivizing Equity Members \10\ to increase the liquidity-providing
orders in securities priced below $1.00 they submit to MIAX PEARL
Equities, which would support price discovery on MIAX PEARL Equities
and provide additional liquidity for incoming orders. However, the
Exchange now seeks to lower the fee to remove liquidity in securities
priced below $1.00 on MIAX PEARL Equities to attract additional
incoming orders that seek to remove liquidity with a corresponding
change to similarly lower the rebate to add liquidity in securities
priced below $1.00. As a result, the lower fee proposed herein for
executed orders that remove liquidity from MIAX PEARL Equities
continues to be intended to directly offset the newly proposed rebate
provided for executed orders that add liquidity in securities priced
below $1.00 so that MIAX PEARL Equities may continue to remain revenue
neutral with respect to such transactions while attempting to compete
with other venues to attract this order flow.
---------------------------------------------------------------------------

    \10\ The term ``Equity Member'' means a Member authorized by the
Exchange to transact business on MIAX PEARL Equities. See Exchange
Rule 1901.
---------------------------------------------------------------------------

    The proposed fee change will become effective on December 4, 2020.
The Exchange does not propose any other changes to the MIAX PEARL
Equities Fee Schedule.

2. Statutory Basis

    The Exchange believes that its proposal to amend its Fee Schedule
is consistent with Section 6(b) of the Act \11\ in general, and
furthers the objectives of Section 6(b)(4) of the Act \12\ in
particular, in that it is an equitable allocation of reasonable fees
and other charges among its members and issuers and other persons using
its facilities. As discussed above, the Exchange operates in a highly
fragmented and competitive market. The Commission has repeatedly
expressed its preference for competition over regulatory intervention
in determining prices, products, and services in the securities
markets. Market participants can readily direct order flow to competing
venues if they deem fee levels at a particular venue to be excessive or
rebates/incentives to be insufficient. The Exchange believes that the
Fee Schedule reflects a simple and competitive pricing structure, which
is designed to incentivize market participants to add aggressively
priced displayed liquidity and direct their order flow to the Exchange.
The Exchange believes the proposed rebate and fee structure for orders
that add or remove liquidity in securities priced below $1.00 would
continue to incentivize submission of additional liquidity in
securities priced below $1.00, thereby promoting price discovery and
deepen liquidity, enhancing order execution opportunities for all
Equity Members and investors.
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78f(b).
    \12\ 15 U.S.C. 78f(b)(4) and (5).
---------------------------------------------------------------------------

    In particular, the Exchange believes that the proposed rebate for
orders that add liquidity in securities priced below $1.00 is
reasonable because it would continue to incentivize Equity Members to
direct more order flow in securities priced below $1.00 to the
Exchange. The Exchange notes that one other exchange provides the same
rebate as proposed herein,\13\ and other exchanges provide rebates for
liquidity-adding transactions in securities priced below $1.00, but
that these are denominated in dollar amounts per share rather than a
percentage of the total dollar amount of the transaction.\14\ The
Exchange expects that the proposed rebate for orders that add liquidity
in securities priced below $1.00, albeit lower than that previously in
place, would continue to typically result in a higher overall credit
for a given transaction than the rebates offered by other exchanges,
although the Exchange notes that it may also result in a lower overall
credit for such transactions depending on the number of shares traded
and the total dollar value of the transaction. The Exchange also
believes that the proposed lower fee for orders that remove liquidity
in securities priced below $1.00 is reasonable because it is in line
with the fees charged by at least one other exchange \15\ while also
seeking to attract an increased number of liquidity-removing
transactions in securities priced below $1.00 on MIAX PEARL Equities.
The Exchange believes an increase in liquidity removing orders may lead
to a corresponding increase in liquidity adding orders, thereby
increasing the depth of the MIAX PEARL Equities' Book and improving
price discovery.
---------------------------------------------------------------------------

    \13\ See supra note 9.
    \14\ See, e.g., the Cboe EDGX equities trading fee schedule on
its public website (available at https://markets.cboe.com/us/equities/membership/fee_schedule/edgx/), which reflects a rebate of
$0.00009 per share for liquidity-adding transactions in securities
priced below $1.00 per share; the NYSE Arca equities trading fee
schedule on its public website (available at https://www.nyse.com/publicdocs/nyse/markets/nysearca/NYSE_Arca_Marketplace_Fees.pdf),
which reflects a rebate of $0.00004 per share for liquidity-adding
transactions in securities priced below $1.00 per share.
    \15\ See supra note 9.
---------------------------------------------------------------------------

    The Exchange believes that, given the competitive environment in
which MIAX PEARL Equities currently operates, the proposed pricing
structure, with an offsetting fee and rebate for executions of
transactions in securities priced below $1.00 continues to be a
reasonable attempt to increase liquidity in securities priced below
$1.00 on MIAX PEARL Equities and improve the MIAX PEARL Equities'
market share relative to its competitors while remaining revenue
neutral with respect to such transactions.
    The Exchange also believes that the proposed fee and rebate
structure applicable to executions of transactions in securities priced
below $1.00 continues to be equitably allocated and not unfairly
discriminatory because it applies equally to all Equity Members and is
reasonably related to the value of MIAX PEARL Equities' market quality
associated with higher volume. A number of Equity Members currently
transact in securities priced below $1.00 and they, along with
additional Equity Members that choose to direct order flow in
securities priced below $1.00 to the Exchange, would all continue to
qualify for the proposed fee and rebate. The Exchange believes that
maintaining or increasing the proportion of transactions in securities
priced below $1.00 that are executed on MIAX PEARL Equities would
benefit all investors by deepening the MIAX PEARL Equities' liquidity
pool, which would support price discovery, promote market transparency
and improve investor protection, further rendering the proposed changes
reasonable and equitable.
    Further, the Commission and the courts have repeatedly expressed
their preference for competition over regulatory intervention in
determining prices, products, and services in the securities markets.
In Regulation NMS, while adopting a series of steps to improve the
current market model, the Commission highlighted the importance of
market forces in determining prices and SRO revenues and, also,
recognized

that current regulation of the market system ``has been remarkably
successful in promoting market competition in its broader forms that
are most important to investors and listed companies.'' \16\
---------------------------------------------------------------------------

    \16\ See Securities Exchange Act Release No. 51808 (June 9,
2005), 70 FR 37496 (June 29, 2005) (File No. S7-10-04) (``Regulation
NMS'').
---------------------------------------------------------------------------

    As the Commission itself recognized, the market for trading
services in NMS stocks has become ``more fragmented and competitive.''
\17\ Indeed, equity trading is currently dispersed across 16
exchanges,\18\ 31 alternative trading systems,\19\ and numerous broker-
dealer internalizers and wholesalers, all competing for order flow.
Based on publicly-available information, no single exchange currently
has more than 20% market share (whether including or excluding auction
volume).\20\ Therefore, no exchange possesses significant pricing power
in the execution of equity order flow. More specifically, the Exchange
only recently launched trading operations on September 25, 2020, and
thus has a market share of approximately less than 1% of executed
volume of equities trading.
---------------------------------------------------------------------------

    \17\ See Securities Exchange Act Release No. 82873 (March 14,
2018), 83 FR 13008 (March 26, 2018) (File No. S7-05-18) (Transaction
Fee Pilot for NMS Stocks).
    \18\ See supra note 4.
    \19\ See supra note 5.
    \20\ See supra note 4.
---------------------------------------------------------------------------

    The Exchange has designed its proposed rates for securities priced
below $1.00 to balance the need to attract order flow as a new exchange
entrant with the desire to continue to provide a simple pricing
structure to market participants. The Exchange believes its proposed
rates for securities priced below $1.00 structure continues to enable
the Exchange to compete for order flow. In fact, this proposal and its
predecessor \21\ are direct competitive responses to recent changes
made by another exchange.\22\ The Exchange believes that the ever-
shifting market share among the exchanges demonstrates that market
participants can shift order flow, or discontinue or reduce use of
certain categories of products, in response to fee changes. With
respect to non-marketable orders which provide liquidity on an
exchange, Equity Members can choose from any one of the 16 currently
operating registered exchanges to route such order flow. Accordingly,
competitive forces reasonably constrain exchange transaction fees that
relate to orders that would provide displayed liquidity on an exchange.
Stated otherwise, changes to exchange transaction fees can have a
direct effect on the ability of an exchange to compete for order flow.
Given this competitive environment, the Exchange's proposed rates for
securities priced below $1.00 represents a reasonable attempt to
attract order flow to a new exchange entrant.
---------------------------------------------------------------------------

    \21\ See supra note 8.
    \22\ See supra notes 7 and 9.
---------------------------------------------------------------------------

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

    The Exchange does not believe that the proposed rule change will
impose any burden on competition not necessary or appropriate in
furtherance of the purposes of the Act. Rather, the Exchange believes
that the proposed change would encourage the submission of additional
order flow to a public exchange, thereby promoting market depth,
execution incentives and enhanced execution opportunities, as well as
price discovery and transparency for all Equity Members and non-Equity
Members. As a result, the Exchange believes that the proposed change
furthers the Commission's goal in adopting Regulation NMS of fostering
competition among orders, which promotes ``more efficient pricing of
individual stocks for all types of orders, large and small.'' \23\
---------------------------------------------------------------------------

    \23\ See supra note 16.
---------------------------------------------------------------------------

    The Exchange does not believe that the proposed rates for
securities priced below $1.00 will impose any burden on intermarket
competition that is not necessary or appropriate in furtherance of the
purposes of the Act. To the contrary, the Exchange believes that the
proposed rates will continue to increase competition and they are
intended to draw volume to the Exchange. As stated above, this proposal
and its predecessor \24\ are direct competitive responses to recent
changes made by another exchange.\25\ The Exchange believes that the
ever-shifting market share among the exchanges demonstrates that market
participants can shift order flow or discontinue to reduce use of
certain categories of products, in response to new or different pricing
structures being introduced into the market. Accordingly, competitive
forces constrain the Exchange's transaction fees and rebates, and
market participants can readily trade on competing venues if they deem
pricing levels at those other venues to be more favorable. As a new
exchange, the Exchange faces intense competition from existing
exchanges and other non-exchange venues that provide markets for
equities trading.
---------------------------------------------------------------------------

    \24\ See supra note 8.
    \25\ See supra notes 7 and 9.
---------------------------------------------------------------------------

    Further, while pricing incentives do cause shifts of liquidity
between trading centers, market participants make determinations on
where to provide liquidity or route orders to take liquidity based on
factors other than pricing, including technology, functionality, and
other considerations. Consequently, the Exchange believes that the
degree to which its proposed rates for securities priced below $1.00
could impose any burden on competition is extremely limited, and does
not believe that such rates would burden competition of Equity Members
or competing venues in a manner that is not necessary or appropriate in
furtherance of the purposes of the Act.
    The Exchange does not believe that the proposed rates for
securities priced below $1.00 will impose any burden on intramarket
competition that is not necessary or appropriate in furtherance of the
purposes of the Act because the proposed rates for securities priced
below $1.00 will continue to apply equally to all Equity Members. The
proposed rates for securities priced below $1.00 continue to be
intended to encourage market participants to both remove and add
liquidity to the Exchange by providing a rates that are comparable to
those offered by other exchanges, which the Exchange believes will help
to encourage Equity Members to send orders to the Exchange to the
benefit of all Exchange participants. As the proposed pricing structure
for securities priced below $1.00 are equally applicable to all market
participants, the Exchange does not believe there is any burden on
intramarket competition.

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

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act,\26\ and Rule 19b-4(f)(2) \27\ thereunder.
At any time within 60 days of the filing of the proposed rule change,
the Commission summarily may temporarily suspend such rule change if it
appears to the Commission that such action is necessary or appropriate
in the public interest, for the protection of investors, or otherwise
in furtherance of the

purposes of the Act. If the Commission takes such action, the
Commission shall institute proceedings to determine whether the
proposed rule should be approved or disapproved.
---------------------------------------------------------------------------

    \26\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \27\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-PEARL-2020-34 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-PEARL-2020-34. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549 on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of the filing also will be available for inspection
and copying at the principal office of the Exchange. All comments
received will be posted without change. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-PEARL-2020-34, and should be submitted
on or before January 4, 2021.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\28\
---------------------------------------------------------------------------

    \28\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-27386 Filed 12-11-20; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 78, Number 150 (Monday, August 5, 2013)]
[Notices]
[Pages 47455-47456]
[FR Doc No: 2013-18760]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-70075; File No. SR-NYSEArca-2013-75]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change Amending NYSE Arca
Equities Rule 7.31(a)(2) To Specify That the Exchange Would Use The
Last Official Closing Price To Calculate the Market Order Trading
Collar If There Is No Consolidated Last Sale Price That Trading Day

July 30, 2013.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that, on July 18, 2013, NYSE Arca, Inc. (the ``Exchange'' or
``NYSE Arca'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the self-regulatory
organization. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------

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

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

    The Exchange proposes to amend NYSE Arca Equities Rule 7.31(a)(2)
to specify that the Exchange would use the last official closing price
to calculate the market order trading collar if there is no
consolidated last sale price that trading day. The text of the proposed
rule change is available on the Exchange's Web site at www.nyse.com, at
the principal office of the Exchange, and at the Commission's Public
Reference Room.

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

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

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

1. Purpose
    The Exchange is proposing to amend NYSE Arca Equities Rule
7.31(a)(2) to specify that the Exchange would use the last official
closing price to calculate the market order trading collar (``Trading
Collar'') if there is no consolidated last sale price on that trading
day. Pursuant to Rule 7.31(a)(1), during Core Trading Hours,\4\ a
market order to buy (sell) will not execute or route to another market
center at a price above (below) the Trading Collar. Trading Collars are
based on a price that is a specified percentage away from the
consolidated last sale price, which can be a price either reported on
the Consolidated Tape or the UTP Trade Data Feed, depending on which
market the security is listed. The upper boundary of the Trading Collar
is calculated by increasing the consolidated last sale price by a
specific percentage, and the lower boundary is calculated by decreasing
the consolidated last sale price by the same specified percentage.
---------------------------------------------------------------------------

    \4\ See NYSE ARca Equities Rule 1.1(j) (defining ``Core Trading
Hours'' as the hours of 6:30 a.m. to 1:00 p.m. (Pacific Time)).
---------------------------------------------------------------------------

    In thinly-traded securities, there may not be a consolidated last
sale price available for a security that trading day. Currently, if
this occurs, the Exchange does not calculate a Trading Collar until
there is a consolidated last during Core Trading Hours, which means
that the first execution of a market order at the Exchange may not be
subject to a Trading Collar.
    The Exchange proposes to amend Rule 7.31(a)(2) to specify that if
there is no consolidated last sale price on the same trading day, the
Exchange would use the last official closing price for the security.
The Exchange proposes to make this change to assure that there will be
a Trading Collar available for all executions of market orders at the
Exchange, even if an execution has not yet been reported for a security
that day.
    As proposed, the Exchange could use a consolidated last sale price
that is reported to the Consolidated Tape or the UTP Trade Data Feed
before Core Trading Hours begin that day. For example, assume XYZ
security, a thinly-traded security, had an official closing price on
Day 1 of $10.00. On Day 2, a trade is reported to the Consolidated Tape
in XYZ security at 5:30 a.m. Eastern for $10.01, but there are no
additional trades in XYZ during Core Trading Hours. Accordingly, as
proposed, on Day 2, the Exchange would use the $10.01 consolidated last
sale price as the reference price for calculating the Trading Collar
for XYZ, and not the $10.00 official last close. If there are no
further trades on Day 2 and no trades on Day 3, on Day 3, the Exchange
would use the Day 1 official closing price to calculate the Trading
Collar, and not the Day 2 pre-Core Trading Hours execution of $10.01.
The Exchange believes that it is appropriate to use an execution that
may occur on the same day in the pre-Core Trading Hours as the
reference price because it may be reflective of the current price of
the security. However, if there are no further transactions in the
security that day or on the next day(s), the Exchange believes that the
last official closing price is more indicative of the true value of the
security and should be used as the reference price.
    The Exchange would not use a consolidated last sale price that is
reported after the official closing price for the prior day. For
example, if XYZ had an official closing price on Day 1 of $10.00 and an
execution reported to the Consolidated Tape at 5:30 p.m. Eastern of
$10.01, and no trades on Day 2, the Exchange would use the $10.00
closing price as the reference price for calculating the Trading Collar
for XYZ.
    The Exchange also proposes to amend Rule 7.31(a)(1) to clarify that
Trading Collars are available for the Market Order Auction. Because the
Market Order Auction occurs during Core Trading Hours,\5\ the Exchange
believes that it is implied in the rule that the Trading Collars are
also applicable during the Market Order Auction. However, in the
interest of full

transparency, the Exchange proposes to specify that Trading Collars are
applicable for the Market Order Auction.
---------------------------------------------------------------------------

    \5\ Pursuant to NYSE Arca Equities Rule 7.34(a)(1), the Market
Order Auction occurs during the Exchange's Opening Session. However,
because the Market Order Auction occurs no earlier than 9:30:00 a.m.
Eastern, although it is part of the Opening Session, it takes place
during what are defined as Core Trading Hours pursuant to Rule
1.1(j).
---------------------------------------------------------------------------

2. Statutory Basis
    The statutory basis for the proposed rule change is Section 6(b)(5)
of the Securities Exchange Act of 1934 (the ``Act''),\6\ which requires
the rules of an exchange 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 Exchange believes that the
proposed rule meets these requirements in that it ensures that the
Exchange will be able to calculate and apply a Trading Collar for all
incoming market orders, including when there has not yet been an
execution during Core Trading Hours in a security. The Exchange
believes that using the last official closing price for calculating the
market order Trading Collar removes impediments to and perfects the
mechanism of a free and open market and protects investors and the
public interest because the last official closing price represents the
most accurate indication of the price at which a security may be
trading. The Exchange notes that the official closing price of a
security is used for other purposes, such as calculating the Trigger
Price pursuant to Rule 7.16, in compliance with Rule 201 of Regulation
SHO.
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

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

    The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. The Exchange believes that
the proposed amendment will not impose any burdens on competition
because the proposal would simply provide for a manner to calculate
market order Trading Collars for situations when there is no
consolidated last sale price in a security.

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

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

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

    The Exchange has filed the proposed rule change pursuant to Section
19(b)(3)(A)(iii) of the Act \7\ and Rule 19b-4(f)(6) thereunder.\8\
Because the proposed rule change does not: (i) Significantly affect the
protection of investors or the public interest; (ii) impose any
significant burden on competition; and (iii) become operative prior to
30 days from the date on which it was filed, or such shorter time as
the Commission may designate, if consistent with the protection of
investors and the public interest, the proposed rule change has become
effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-
4(f)(6)(iii) thereunder.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \8\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) \9\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b4(f)(6)(iii),\10\ the Commission
may designate a shorter time if such action is consistent with the
protection of investors and the public interest. The Exchange has asked
the Commission to waive the 30-day operative delay so that the proposal
may become operative immediately upon filing.
---------------------------------------------------------------------------

    \9\ 17 CFR 240.19b-4(f)(6).
    \10\ 17 CFR 240.19b-4(f)(6)(iii).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of such proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings under
Section 19(b)(2)(B) \11\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78s(b)(2)(B).
---------------------------------------------------------------------------

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-NYSEArca-2013-75 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-2013-75. This
file number should be included on the subject line if email is used.
    To help the Commission process and review your comments more
efficiently, please use only one method. The Commission will post all
comments on the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments,
all written statements with respect to the proposed rule change that
are filed with the Commission, and all written communications relating
to the proposed rule change between the Commission and any person,
other than those that may be withheld from the public in accordance
with the provisions of 5 U.S.C. 552, will be available for Web site
viewing and printing in the Commission's Public Reference Room, 100 F
Street NE., Washington, DC 20549, on official business days between the
hours of 10:00 a.m. and 3:00 p.m. Copies of such filing also will be
available for inspection and copying at the principal offices of NYSE.
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-2013-
75, and should be submitted on or before August 26, 2013.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
---------------------------------------------------------------------------

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

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-18760 Filed 8-2-13; 8:45 am]
BILLING CODE 8011-01-P