[Federal Register Volume 77, Number 66 (Thursday, April 5, 2012)]
[Notices]
[Pages 20642-20643]
[FR Doc No: 2012-8166]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2012-N-0001]

General and Plastic Surgery Devices Panel of the Medical Devices
Advisory Committee; Notice of Meeting

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice.

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    This notice announces a forthcoming meeting of a public advisory
committee of the Food and Drug Administration (FDA). The meeting will
be open to the public.
    Name of Committee: General and Plastic Surgery Devices Panel of the
Medical Devices Advisory Committee.
    General Function of the Committee: To provide advice and
recommendations to the Agency on FDA's regulatory issues.
    Date and Time: The meeting will be held on June 21, 2012, from 8
a.m. to 6 p.m.
    Location: Hilton Washington DC North/Gaithersburg, salons A, B, C,
and D, 620 Perry Pkwy., Gaithersburg, MD 20877. The hotel telephone
number is<PHONE_NUMBER>.
    Contact Person: Avena Russell, Center for Devices and Radiological
Health, Food and Drug Administration, 10903 New Hampshire Ave., Bldg.
66, Rm. 1535, Silver Spring, MD 20993-0002<EMAIL_ADDRESS>
301-796-3805, or FDA Advisory Committee Information Line, 1-800-741-
8138<PHONE_NUMBER> in the Washington, DC area), and follow the prompts
to the desired center or product area. Please call the Information Line
for up-to-date information on this meeting. A notice in the Federal
Register about last minute modifications that impact a previously
announced advisory committee meeting cannot always be published quickly
enough to provide timely notice. Therefore, you should always check the
Agency's Web site and call the appropriate advisory committee hot line/
phone line to learn about possible modifications before coming to the
meeting.
    Agenda: On June 21, 2012, the committee will discuss, make
recommendations, and vote on information related to the premarket
approval application, sponsored by Dune Medical Devices, Inc., for the
MarginProbe System, that utilizes electromagnetic waves to characterize
human tissue in real time and provides intraoperative information on
the malignancy of the surface of the ex vivo lumpectomy specimen.
    FDA intends to make background material available to the public no
later than 2 business days before the meeting. If FDA is unable to post
the background material on its Web site prior to the meeting, the
background material will be made publicly available at the location of
the advisory committee meeting, and the background material will be
posted on FDA's Web site after the meeting. Background material is
available at http://www.fda.gov/AdvisoryCommittees/Calendar/default.htm. Scroll down to the appropriate advisory committee link.
    Procedure: Interested persons may present data, information, or
views, orally or in writing, on issues pending before the committee.
Written submissions may be made to the contact person on or before June
11, 2012. Oral presentations from the public will be scheduled between
approximately 1 p.m. and 2 p.m. Those individuals interested in making
formal oral presentations should notify the contact person and submit a
brief statement of the general nature of the evidence or arguments they
wish to present, the names and addresses of proposed participants, and
an indication of the approximate time requested to make their
presentation on or before

June 1, 2012. Time allotted for each presentation may be limited. If
the number of registrants requesting to speak is greater than can be
reasonably accommodated during the scheduled open public hearing
session, FDA may conduct a lottery to determine the speakers for the
scheduled open public hearing session. The contact person will notify
interested persons regarding their request to speak by June 4, 2012.
    Persons attending FDA's advisory committee meetings are advised
that the Agency is not responsible for providing access to electrical
outlets.
    FDA welcomes the attendance of the public at its advisory committee
meetings and will make every effort to accommodate persons with
physical disabilities or special needs. If you require special
accommodations due to a disability, please contact Ann Marie Williams,
at<EMAIL_ADDRESS>or<PHONE_NUMBER>, at least 7 days in
advance of the meeting.
    FDA is committed to the orderly conduct of its advisory committee
meetings. Please visit our Web site at http://www.fda.gov/AdvisoryCommittees/AboutAdvisoryCommittees/ucm111462.htm for procedures
on public conduct during advisory committee meetings.
    Notice of this meeting is given under the Federal Advisory
Committee Act (5 U.S.C. app. 2).

    Dated: March 30, 2012.
Jill Hartzler Warner,
Acting Associate Commissioner for Special Medical Programs.
[FR Doc. 2012-8166 Filed 4-4-12; 8:45 am]
BILLING CODE 4160-01-P


[Federal Register Volume 88, Number 221 (Friday, November 17, 2023)]
[Notices]
[Pages 80376-80377]
[FR Doc No: 2023-25502]

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DEPARTMENT OF TRANSPORTATION

Federal Motor Carrier Safety Administration

[Docket No. FMCSA-2014-0214; FMCSA-2015-0116; FMCSA-2019-0030; FMCSA-
2019-0031; FMCSA-2019-0033; FMCSA-2019-0034].

Qualification of Drivers; Exemption Applications; Epilepsy and
Seizure Disorders

AGENCY: Federal Motor Carrier Safety Administration (FMCSA), Department
of Transportation (DOT).

ACTION: Notice of final disposition.

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

SUMMARY: FMCSA announces its decision to renew exemptions for seven
individuals from the requirement in the Federal Motor Carrier Safety
Regulations (FMCSRs) that interstate commercial motor vehicle (CMV)
drivers have ``no established medical history or clinical diagnosis of
epilepsy or any other condition which is likely to cause loss of
consciousness or any loss of ability to control a CMV.'' The exemptions
enable these individuals who have had one or more seizures and are
taking anti-seizure medication to continue to operate CMVs in
interstate commerce.

DATES: The exemptions were applicable on October 4, 2023. The
exemptions expire on October 4, 2025.

FOR FURTHER INFORMATION CONTACT: Ms. Christine A. Hydock, Chief,
Medical Programs Division, FMCSA, DOT, 1200 New Jersey Avenue SE,
Washington, DC 20590-0001,<PHONE_NUMBER>, [email protected]. Office
hours are from 8:30 a.m. to 5 p.m. ET Monday through Friday, except
Federal holidays. If you have questions regarding viewing or submitting
material to the docket, contact Dockets Operations,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

I. Public Participation

A. Viewing Comments

    To view comments go to www.regulations.gov. Insert the docket
number (FMCSA-2014-0214, FMCSA-2015-0116, FMCSA-2019-0030, FMCSA-2019-
0031, FMCSA-2019-0033, or FMCSA-2019-0034) in the keyword box and click
``Search.'' Next, sort the results by ``Posted (Newer-Older),'' choose
the first notice listed, and click ``Browse Comments.'' If you do not
have access to the internet, you may view the docket online by visiting
Dockets Operations on the ground floor of the DOT West Building, 1200
New Jersey Avenue SE, Washington, DC 20590-0001, between 9 a.m. and 5
p.m. ET Monday through Friday, except Federal holidays. To be sure
someone is there to help you, please call<PHONE_NUMBER> or (202) 366-
9826 before visiting Dockets Operations.

B. Privacy Act

    In accordance with 49 U.S.C. 31315(b)(6), DOT solicits comments
from the public on the exemption request. DOT posts these comments,
without edit, including any personal information the commenter
provides, to www.regulations.gov. As described in the system of records
notice DOT/ALL 14 (Federal Docket Management System), which can be
reviewed at https://www.transportation.gov/individuals/privacy/privacy-act-system-records-notices, the comments are searchable by the name of
the submitter.

II. Background

    On October 5, 2023, FMCSA published a notice announcing its
decision to renew exemptions for seven individuals from the epilepsy
and seizure disorders prohibition in 49 CFR 391.41(b)(8) to operate a
CMV in interstate commerce and requested comments from the public (88
FR 69285). The public comment period ended on November 6, 2023, and no
comments were received.
    FMCSA has evaluated the eligibility of these applicants and
determined that renewing these exemptions would likely achieve a level
of safety that is equivalent to, or greater than, the level that would
be achieved by complying with Sec.  391.41(b)(8).
    The physical qualification standard for drivers regarding epilepsy
found in Sec.  391.41(b)(8) states that a person is physically
qualified to drive a CMV if that person has no established medical
history or clinical diagnosis of epilepsy or any other condition which
is likely to cause the loss of consciousness or any loss of ability to
control a CMV.
    In addition to the regulations, FMCSA has published advisory
criteria \1\ to assist medical examiners in determining whether drivers
with certain medical conditions are qualified to operate a CMV in
interstate commerce.
---------------------------------------------------------------------------

    \1\ These criteria may be found in APPENDIX A TO PART 391--
MEDICAL ADVISORY CRITERIA, section H. Epilepsy: Sec.  391.41(b)(8),
paragraphs 3, 4, and 5, which is available on the internet at
https://www.gpo.gov/fdsys/pkg/CFR-2015-title49-vol5/pdf/CFR-2015-title49-vol5-part391-appA.pdf.
---------------------------------------------------------------------------

III. Discussion of Comments

    FMCSA received no comments in this proceeding.

IV. Conclusion

    Based on its evaluation of the seven renewal exemption
applications, FMCSA announces its decision to exempt the following
drivers from the epilepsy and seizure disorders prohibition in Sec.
391.41(b)(8).
    As of October 4, 2023, and in accordance with 49 U.S.C. 31136(e)
and 31315(b), the following seven individuals have satisfied the
renewal conditions for obtaining an exemption from the epilepsy and
seizure disorders prohibition in the FMCSRs for interstate CMV drivers
(88 FR 69287):

Douglas Day (IN)
Dennis Klamm (MN)
Michael Miller (TX)
Ryan Moore (NC)
William Swann (MD)
Tyler Tilseth (NM)
Adam Wilson (MN)
    The drivers were included in docket numbers FMCSA-2014-0214,
    FMCSA-2015-0116, FMCSA-2019-0030, FMCSA-2019-0031, FMCSA-2019-0033,
or FMCSA-2019-0034. Their exemptions were applicable as of October 4,
2023 and will expire on October 4, 2025.
    In accordance with 49 U.S.C. 31315(b), each exemption will be valid
for 2 years from the effective date unless revoked earlier by FMCSA.
The exemption will be revoked if the following occurs: (1) the person
fails to comply with the terms and conditions of the exemption; (2) the
exemption has resulted in a lower level of safety than was maintained
prior to being granted; or (3) continuation of the exemption would not
be consistent with the goals and objectives of 49 U.S.C. 31136(e) and
31315(b).

    Larry W. Minor,
Associate Administrator for Policy.
[FR Doc. 2023-25502 Filed 11-16-23; 8:45 am]
BILLING CODE 4910-EX-P


[Federal Register Volume 81, Number 71 (Wednesday, April 13, 2016)]
[Notices]
[Pages 21864-21865]
[FR Doc No: 2016-08496]

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ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-OPPT-2015-0234; FRL-9939-82]

Orientation Session for the Chemical Safety Advisory Committee;
Notice of Public Meeting

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice.

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SUMMARY: There will be a half-day orientation meeting of the new
Chemical Safety Advisory Committee (CSAC). At this meeting, entitled
``Orientation Session of the Chemical Safety Advisory Committee
(CSAC),'' the CSAC will consider and review background information on
the Toxic Substances Control Act (TSCA), the TSCA Work Plan Chemical
Program, and aspects of TSCA risk assessment approaches.

DATES: The meeting will be held on May 11, 2016, from approximately
1:00 p.m. to 5:00 p.m. (EST). This is an open public meeting that will
be conducted over the Internet using Adobe Connect. Registration is
required to attend this meeting. Please visit: http://www.epa.gov/csac
to register.
    Comments. The Agency encourages written comments to be submitted on
or before April 26, 2016, and requests for oral comments be submitted
on or before May 4, 2016. Written comments may be submitted until noon
on May 10, 2016; however, anyone submitting written comments after
April 26, 2016, should contact the Designated Federal Official (DFO)
listed under FOR FURTHER INFORMATION CONTACT. For additional
instructions, see Unit I.C. under SUPPLEMENTARY INFORMATION. Webcast.
Please refer to the following Web site for information on how to access
the meeting webcast: http://www.epa.gov/csac.
    Special accommodations. For information on access or services for
individuals with disabilities, and to request accommodation of a
disability, please contact the DFO listed under FOR FURTHER INFORMATION
CONTACT at least 10 days prior to the meeting to give EPA time to
process your request.

ADDRESSES: Meeting: This meeting will be webcast. Please refer to the
following Web site for information on how to access the webcast: http://www.epa.gov/csac.
    Comments. Submit your comments, identified by docket identification
(ID) number EPA-HQ-OPPT-2015-0234, by one of the following methods:
     Federal eRulemaking Portal: http://www.regulations.gov.
Follow the online instructions for submitting comments. Do not
electronically submit information you consider to be Confidential
Business Information (CBI) or other information whose disclosure is
restricted by statute.
     Mail: OPPT Docket, Environmental Protection Agency Docket
Center (EPA/DC) (28221T), 1200 Pennsylvania Ave. NW., Washington, DC
20460-0001.
     Hand Delivery: To make special arrangements for hand
delivery or delivery of boxed information, please follow the
instructions at http://www.epa.gov/dockets/contacts.html.
    Additional instructions on commenting or visiting the docket, along
with more information about dockets, is available at http://www.epa.gov/dockets.
    Requests to present oral comments, and requests for special
accommodations. Submit requests for special accommodations, or requests
to present oral comments to the DFO listed under FOR FURTHER
INFORMATION CONTACT.

FOR FURTHER INFORMATION CONTACT: Scott Lynn, Ph.D., DFO, Office of
Science Coordination and Policy (7201M), Environmental Protection
Agency, 1200 Pennsylvania Ave. NW., Washington, DC 20460-0001;
telephone number:<PHONE_NUMBER>; email address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. General Information

A. Does this action apply to me?

    This action is directed to the public in general. This action may,
however, be of interest to those involved in the manufacture,
processing, distribution, disposal, and/or the assessment of risks
involving chemical substances and mixtures. Since other entities may
also be interested, the Agency has not attempted to describe all the
specific entities that may be affected by this action.

B. What should I consider as I prepare my comments for EPA?

    1. Submitting CBI. Do not submit CBI information to EPA through
regulations.gov or email. If your comments contain any information that
you consider to be CBI or otherwise protected, please contact the DFO
listed under FOR FURTHER INFORMATION CONTACT to obtain special
instructions before submitting your comments.
    2. Tips for preparing your comments. When preparing and submitting
your comments, see the commenting tips at http://www.epa.gov/dockets/comments.html.

C. How may I participate in this meeting?

    You may participate in this meeting by following the instructions
in this unit. To ensure proper receipt by EPA, it is imperative that
you identify docket ID number EPA-HQ-OPPT-2015-0234 in the subject line
on the first page of your request.
    1. Written comments. The Agency encourages written comments be
submitted, using the instructions in ADDRESSES and Unit I.B., on or
before

April 26, 2016, to provide CSAC the time necessary to consider and
review the written comments. Written comments will be accepted until
noon on May 10, 2016; however, anyone submitting written comments after
April 26, 2016, should contact the DFO listed under FOR FURTHER
INFORMATION CONTACT.
    2. Oral comments. The Agency encourages each individual or group
wishing to make brief oral comments to CSAC to submit a request to the
DFO listed under FOR FURTHER INFORMATION CONTACT on or before May 4,
2016, in order to be included on the meeting agenda. Requests to
present oral comments will be accepted until noon May 9, 2016, to the
extent that time permits, the Chair of the CSAC may permit the
presentation of oral comments. The request should identify the name of
the individual making the presentation and the organization (if any)
the individual will represent. Oral comments before CSAC are limited to
approximately 5 minutes unless prior arrangements have been made. In
addition, each speaker should provide electronic copies of his or her
comments and presentation for distribution to CSAC.

II. Background

A. Purpose of CSAC

    Office of Prevention Pesticides and Toxics (OPPT) manages programs
under the Toxic Substances Control Act (TSCA), 15 U.S.C. 2601 et seq.,
and the Pollution Prevention Act (PPA), 42 U.S.C. 13101 et seq. Under
these laws, EPA evaluates new and existing chemical substances and
their risks, and finds ways to prevent or reduce pollution before it is
released into the environment. OPPT also manages a variety of
environmental stewardship programs that encourage companies to reduce
and prevent pollution.
    The CSAC was established under the Federal Advisory Committee Act,
section 9(a), to provide advice and recommendations on the scientific
basis for risk assessments, methodologies, and pollution prevention
measures or approaches. The CSAC is composed of 10 members who serve as
regular government employees (RGEs) or special government employees
(SGEs). A copy of the CSAC charter is available on the EPA Web site at
http://www.epa.gov/csac and in the docket at http://www.regulations.gov.

B. Public Meeting

    During the meeting scheduled for May 11, 2016, entitled
``Orientation Session of the Chemical Safety Advisory Committee
(CSAC),'' the CSAC will receive a background briefing including an
overview of priority projects within EPA's OPPT, the TSCA, the TSCA
Work Plan Chemical Program, and aspects of OPPT's risk assessment
approaches. The briefing will provide an orientation for this new
committee in preparation for upcoming reviews. The EPA is not
presenting a charge or questions for the committee's deliberation at
this meeting.

C. CSAC Documents and Meeting Minutes

    EPA's background documents, related supporting materials, CSAC
composition (i.e., members for this meeting), and the meeting agenda
will be available approximately 3 weeks prior to the meeting. In
addition, the Agency may provide additional background documents as the
materials become available. You may obtain electronic copies of these
documents and certain other related documents that might be available
at http://www.regulations.gov and the following Web site: http://www.epa.gov/csac.
    CSAC will prepare meeting minutes approximately 90 days after the
meeting. The meeting minutes will be posted in the OPPT Docket at
http://www.regulations.gov and the following Web site: http://www.epa.gov/csac.

    Authority:  5 U.S.C. App. 2Sec.  9 (c).

    Dated: December 16, 2015.
David J. Dix,
Director, Office of Science Coordination and Policy.
    This document was received for publication by the Office of the
Federal Register on April 8, 2016.
[FR Doc. 2016-08496 Filed 4-12-16; 8:45 am]
 BILLING CODE 6560-50-P


[Federal Register Volume 81, Number 51 (Wednesday, March 16, 2016)]
[Notices]
[Pages 14220-14221]
[FR Doc No: 2016-05685]

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DEPARTMENT OF TRANSPORTATION

Pipeline and Hazardous Materials Safety Administration

Hazardous Materials: Delayed Applications

AGENCY: Office of Hazardous Materials Safety, Pipeline and Hazardous
Materials Safety Administration (PHMSA), DOT.

ACTION: List of application delayed more than 180 days.

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SUMMARY: In accordance with the requirements of 49 U.S.C. 5117(c),
PHMSA is publishing the following list of special permit applications
that have been in process for 180 days or more. The reason(s) for delay
and the expected completion date for action on each application is
provided in association with each identified application.

FOR FURTHER INFORMATION CONTACT: Ryan Paquet, Director, Office of
Hazardous Materials Special Permits and Approvals, Pipeline and
Hazardous Materials Safety Administration, U.S. Department of
Transportation, East Building, PHH-30, 1200 New Jersey Avenue
Southeast, Washington, DC 20590-0001,<PHONE_NUMBER>.

Key to ``Reason for Delay''

1. Awaiting additional information from applicant
2. Extensive public comment under review
3. Application is technically complex and is of significant impact
or precedent-setting and requires extensive analysis
4. Staff review delayed by other priority issues or volume of
special permit applications

Meaning of Application Number Suffixes

N--New Application
M--Modification Request
R--Renewal Request
P--Party To Exemption Request

    Issued in Washington, DC, on January 28, 2016.
Don Burger,
Chief, General Approvals and Permits.

----------------------------------------------------------------------------------------------------------------
                                                                                Reason for    Estimated date
            Application No.                             Applicant                      delay       of completion
----------------------------------------------------------------------------------------------------------------
                                         Modification to Special Permits
----------------------------------------------------------------------------------------------------------------
16142-M................................  Nantong CIMC Tank Equipment Co. Ltd.,                 4      01-20-2016
                                          Jiangsu, Province.
14808-M................................  Amtrol-Alfa Metalomecanica, S.A., West                4      01-31-2016
                                          Warwick, RI.
15972-M................................  EnTrans International, LLC, Athens, TN.               4      02-15-2016
15628-M................................  Chemours Company FC, LLC., Wilmington,                4      01-31-2016
                                          DE.
16219-M................................  Structural Composites Industries (SCI),               4      02-18-2016
                                          Pomona, CA.
14437-M................................  Columbiana Boiler Company (CBCo), LLC,                4      02-15-2016
                                          Columbiana, OH.
----------------------------------------------------------------------------------------------------------------
                                         New Special Permit Applications
----------------------------------------------------------------------------------------------------------------
15767-N................................  Union Pacific Railroad Company, Omaha,                3      02-29-2016
                                          NE.
16001-N................................  VALTEK ASSOCIATES, INC., Malvern, PA...               3      03-31-2016
16220-N................................  Americase, Waxahache, TX...............               4      03-31-2016
16337-N................................  Volkswagen Group of America (VWGoA),                  4      02-15-2016
                                          Herndon, VA.
16371-N................................  Volkswagen Group of America (VWGoA),                  4      02-15-2016
                                          Herndon, VA.
16416-N................................  INOX India Limited, Gujarat, India.....               4      02-28-2016
16452-N................................  The Procter & Gamble Company,                         4      03-10-2016
                                          Cincinnati, OH.
16477-N................................  Hydroid, Inc., Pocasset, MA............               4      03-15-2016
16516-N................................  Exosent Engineering, LLC, College                     4      02-15-2016
                                          Station, TX.
16495-N................................  TransRail Innovation Inc., Calgary.....               4      01-31-2016
16524-N................................  Quantum Fuel Systems Technologies                     4      03-15-2016
                                          Worldwide, Inc., Lake Forest, CA.
16463-N................................  Salco Products, Lement, IL.............               3      03-31-2016
16461-N................................  Coastal Hydrotesting LLC, Baltimore, MD               4      02-10-2016
----------------------------------------------------------------------------------------------------------------
                                      Party to Special Permits Application
----------------------------------------------------------------------------------------------------------------
16279-P................................  AEG Environmental Products & Services,                4      01-31-2016
                                          Inc., Westminster, MD.
----------------------------------------------------------------------------------------------------------------
                                      Renewal Special Permits Applications
----------------------------------------------------------------------------------------------------------------
11860-R................................  GATX Corporation, Chicago, IL..........               4      01-31-2016

14694-R................................  FedEx Express, Memphis, TN.............               4      01-31-2016
----------------------------------------------------------------------------------------------------------------

[FR Doc. 2016-05685 Filed 3-15-16; 8:45 am]
 BILLING CODE 4910-60-M


[Federal Register Volume 84, Number 196 (Wednesday, October 9, 2019)]
[Notices]
[Pages 54239-54243]
[FR Doc No: 2019-22025]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-87207; File No. SR-OCC-2019-008]

Self-Regulatory Organizations; The Options Clearing Corporation;
Notice of Filing of Proposed Rule Change To Establish a Regulatory
Committee of The Options Clearing Corporation's Board of Directors

October 3, 2019.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934

(``Exchange Act'' or ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice
is hereby given that on September 25, 2019, the Options Clearing
Corporation (``OCC'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by OCC. 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. Clearing Agency's Statement of the Terms of Substance of the
Proposed Rule Change

    The proposed rule change would establish the OCC Regulatory
Committee (``Committee'') and adopt the OCC Regulatory Committee
Charter (``Committee Charter''). The Committee Charter is being
submitted in its entirety as new rule text. A corresponding proposed
change to OCC's Article III, Section 4 of the OCC By-Laws (``By-Laws'')
and the OCC Board of Directors Charter and Corporate Governance
Principles (``Board Charter'') would be adopted in to list the
Committee among the other OCC Board of Directors (``Board'')
committees. The proposed rule change does not require any changes to
the text of OCC's Rules.
    The proposed rule change is available on OCC's website at https://www.theocc.com/about/publications/bylaws.jsp. All terms with initial
capitalization that are not otherwise defined herein have the same
meaning as set forth in the OCC By-Laws and Rules.\3\
---------------------------------------------------------------------------

    \3\ OCC's By-Laws and Rules can be found on OCC's public
website: http://optionsclearing.com/about/publications/bylaws.jsp.
---------------------------------------------------------------------------

II. Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change

    In its filing with the Commission, OCC 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. OCC has prepared summaries, set forth in sections (A),
(B), and (C) below, of the most significant aspects of these
statements.

A. Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change

1. Purpose
Background
    OCC is filing this proposed rule change to establish a Board-level
Regulatory Committee that would: (a) Operate separately from the
current OCC Audit Committee; (b) complement the work done by
independent consultants on regulatory compliance matters; (c) take over
and continues the work done by the current OCC Regulatory Oversight
Working Group (``ROWG''), including but not limited to OCC's efforts to
demonstrate compliance with applicable laws and regulations; and (d) be
solely comprised of OCC's Public Directors, as that term is defined in
the Board Charter.\4\ For the avoidance of doubt, upon approval of the
proposed Committee Charter, the ROWG will cease to exist.
---------------------------------------------------------------------------

    \4\ OCC's Board Charter can be found on OCC's website: https://www.theocc.com/about/corporate-information/board-charter.jsp.
---------------------------------------------------------------------------

    The contents of the proposed rule change are summarized as follows.
Regulatory Committee Charter
Committee Purpose
    The proposed Committee Charter would state that the OCC Board has
established the Committee to assist the Board in overseeing OCC's
efforts to demonstrate compliance with its regulatory obligations with
particular attention to the OCC Regulatory Compliance Oversight Group
(``RCOG''), a working group established by OCC management. The proposed
Committee Charter would explain that given OCC's designation as a
Systemically Important Financial Market Utility, the Board believes it
is critical that OCC demonstrate its continued strong commitment to
compliance with applicable regulations in the conduct of its core
clearance and settlement activities. The proposed Committee Charter
would also state that nothing in the Committee Charter alters the
existing roles and responsibilities of other Board Committees.
Committee Membership and Organization
Composition
    The proposed Committee Charter would provide that the Committee
will be comprised of all OCC Public Directors, as that term is defined
in the Board Charter. The proposed Committee Charter would state that
(i) unless a chair of the Committee (``Chair'') is elected by the
Board, the members of the Committee will designate a Chair by majority
vote of the full membership, and (ii) in the absence of the Chair at
any meeting of the Committee, those members of the Committee present
would designate a Committee member to serve as acting Chair. The
proposed Committee Charter would explain that in the event of a vacancy
on the Committee, the Committee would continue to undertake its
responsibilities, so long as the remaining Committee members are
capable of satisfying the quorum requirement.
Meetings
    The proposed Committee Charter would provide that the Committee
will meet at least quarterly, or more frequently, as deemed necessary
by the Committee in order to fulfill its purposes as described in the
Committee Charter. The proposed Committee Charter would additionally
provide that other meetings may be called by the Chair as circumstances
dictate. The proposed Committee Charter would explain that the Chair or
designee, in consultation with OCC management, as well as the OCC
Corporate Secretary, would establish the agenda for Committee meetings.
The proposed Committee Charter would state that members of the
Committee may ask members of OCC management or others to attend the
meeting and provide pertinent information as necessary. The proposed
Committee Charter would provide that the OCC Chief Compliance Officer,
or one of his or her deputies if the Chief Compliance Officer in unable
to attend, shall attend all meetings of the Committee. The proposed
Committee Charter would provide that the Committee may call executive
sessions from which members of management and invited guests, and other
Committee members to the extent the Chair determines there exists an
actual or potential conflict of interest, may be excluded. The proposed
Committee Charter would explain that the Chair or acting Chair, as
applicable, would serve as Chair for the executive session. The
proposed Committee Charter would explain that members of the Committee
may participate in meetings by means of a conference telephone call or
other means of communication that allows all participants in the
meeting to hear each other.
Quorum
    The proposed Committee Charter would state that a simple majority
of the

Committee members would constitute a quorum for the transaction of
business.
Minutes and Reports
    The proposed Committee Charter would require that the Committee
maintain minutes of all Committee meetings. The proposed Committee
Charter would explain that the Chair or acting Chair, as applicable,
would determine whether separate minutes of executive sessions are to
be recorded as well as determined by the level of detail to be included
in such minutes, taking into consideration the sensitivity of the
matters to be discussed and the possibility that candor might be
limited if detailed minutes are recorded. The proposed Committee
Charter would provide that meeting minutes would reflect that an
executive session was convened and broadly describe the topic(s)
discussed. The proposed Committee Charter would require that minutes of
Committee meetings are circulated to the Board.
    The proposed Committee Charter would provide that the Committee
would make such reports to the Board as deemed necessary or advisable
and that the Chair is responsible for ensuring that important issues
discussed at Committee meetings are reported timely to the Board. The
proposed Committee Charter would require that on an annual basis, the
Committee would provide a report to the Board summarizing its
activities during the previous year.
Committee Authority
    The proposed Committee Charter would provide that subject to the
direction of the Board, the Committee is authorized to act on behalf of
the Board with respect to any matter necessary or appropriate to the
accomplishment of the purpose and responsibilities set forth in the
Committee Charter. The proposed Committee Charter would further provide
that in discharging its role, the Committee may inquire into any matter
it considers appropriate to carry out its purpose and responsibilities,
with access to all books, records, facilities and personnel of OCC and
that the Committee may confer with management and other employees of
OCC to the extent it may deem necessary or appropriate to fulfill its
duties.
    The proposed Committee Charter would provide that the Committee
would have the authority to hire specialists or rely upon other outside
advisors, including legal advisors, to assist it in carrying out its
activities. The proposed Committee Charter would also state that the
Committee would have the authority to approve the fees and retention
terms applicable to such advisors and specialists. The proposed
Committee Charter would require that the Committee's annual report to
the Board reference any engagement of specialists or outside advisors,
including any fees and expenses associated therewith.
Committee Functions and Responsibilities
    The proposed Committee Charter would state that the Committee's
role is one of oversight, and that it remains the responsibility of the
RCOG to identify, manage, monitor, and report on OCC's activities that
demonstrate compliance with regulatory obligations.
    The proposed Committee Charter would provide that the Committee
would have the following functions and responsibilities in discharging
its oversight role:
     The Committee would oversee, and assist the Board in
evaluating, OCC's efforts to demonstrate compliance with applicable
laws and regulations, including banking and securities laws and other
applicable regulatory guidance and standards, through regular reporting
to the Committee by the RCOG.
     The Committee would oversee OCC management's action plans
to achieve compliance with any proposed new regulation to which OCC is
subject.
     The Committee would oversee work performed by any
independent compliance auditor(s) engaged by OCC and approved by the
Board.
     The Committee would make recommendations to the Board as
it deems appropriate, and as the Board may request.
     The Committee would meet with OCC's regulators, with or
without OCC management, as the Committee deems necessary, in order to
discuss OCC's efforts to enhance its regulatory compliance posture.
     The Committee would review any annual regulatory
compliance reports provided by OCC management.
     The Committee would review any final exam report letter
received from OCC's regulators. Additionally, the Committee would
review any OCC response to an exam report letter received from OCC's
regulators. The Committee would receive a briefing on OCC's action
plans, if any, in response to items identified in any final exam report
letter received from OCC's regulators.
     The Committee would perform such other activities
consistent with the Board Charter and By-Laws and applicable legal and
regulatory requirements, as the Committee deems necessary or
appropriate.
Review Cycle
    The proposed Committee Charter would provide that the Committee
review the Committee Charter at least once every twelve months and
submit the Committee Charter to the Board for approval, with such
changes, if any, as the Board deems advisable. The proposed Committee
Charter would additionally provide that the Board would have the
authority to diminish or eliminate the duties and obligations of the
Committee as of the date of any final report of any independent
compliance auditor, but in any case, no sooner than three years from
the initial approval of the Committee Charter, subject to the approval
of the Commission.
By-Laws
    The proposed rule change would also adopt an amendment to the OCC
By-Laws to include reference to the Regulatory Committee in Article
III, Section 4 to list the Committee among the other OCC Board
committees. The proposed By-Law provision would state that the Board
shall appoint the Committee, having the powers and duties set forth in
the By-Laws and Rules and as delegated by the Board. The proposed By-
Law provision would state that the Committee members will be all OCC
Public Directors. The proposed By-Law provision would state that the
chairman of the Committee shall be designated by the Board or by a
majority vote of the Committee membership from among the members of the
Committee.
Board Charter
    The proposed rule change would also adopt an amendment to the
Committees section of the Board Charter to include reference to the
Committee among the other Board committees. The proposed Board Charter
amendment would state that the Board has established Board-level
committees including: Audit, Compensation and Performance, Governance
and Nominating, Regulatory, Risk and Technology.
2. Statutory Basis
    OCC believes the proposed rule change is consistent with Section
17A of the Act \5\ and the rules thereunder applicable to OCC. Section
17A(b)(3)(A) of the Act \6\ requires, among other things, that a
clearing agency be so organized and have the capacity to be able to
facilitate the prompt and

accurate clearance and settlement of securities transactions and
derivatives agreements, contracts, and transactions for which it is
responsible. OCC believes the proposed rule change is consistent with
this requirement because the change would help ensure OCC has
governance arrangements that are organized to support its ability to
promptly and accurately serve Clearing Members and the markets for
which it clears. For example, the proposed Committee Charter would
provide that, among other things, the Committee would oversee OCC
management's action plans to achieve compliance with any proposed new
regulation to which OCC is subject.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78q-1.
    \6\ 15 U.S.C. 78q-1(b)(3)(A).
---------------------------------------------------------------------------

    OCC believes the proposed rule change is also consistent with the
requirements in Rule 17Ad-22(e)(2)(i) \7\ and (v) \8\ to establish,
implement, maintain and enforce written policies and procedures
reasonably designed to provide for governance arrangements that are
clear and transparent and that specify clear and direct lines of
responsibility. The proposed rule change is also consistent with the
requirement to have governance arrangements that specify clear and
direct lines of responsibility because the Committee Charter would
provide a clear statement of the functions and responsibilities of the
Committee. For example, the proposed Committee Charter would provide
that, among other things, the Committee would make recommendations to
the Board as it deems appropriate, and as the Board may request.
Additionally, the proposed Committee Charter would provide that nothing
in the Committee Charter alters the existing roles and responsibilities
of other Board Committees. Finally, including the Committee in the By-
Laws and Board Charter provides for consistency with how other
committees of the Board are represented in the By-Laws and Board
Charter.
---------------------------------------------------------------------------

    \7\ 17 CFR 240.17Ad-22(e)(2)(i).
    \8\ 17 CFR 240.17Ad-22(e)(2)(v).
---------------------------------------------------------------------------

    OCC also believes that the proposed rule change is consistent with
the requirement in Rule 17Ad-22(e)(3)(i) \9\ to establish, implement,
maintain and enforce written policies and procedures reasonably
designed to maintain a sound risk management framework for managing
legal, credit, liquidity, operational, general business, investment,
custody and other risks that arise in or are borne by OCC, including
risk management policies, procedures, and systems that are designed to
identify, measure, monitor, and manage such risks and that are subject
to review on a periodic basis and approved annually by the Board. For
example, the Committee Charter would provide that, among other things,
the Committee would oversee, and assist the Board in evaluating, OCC's
efforts to demonstrate compliance with applicable laws and regulations,
including banking and securities laws and other applicable regulatory
guidance and standards, through regular reporting to the Committee by
the RCOG. Additionally, the Committee Charter would provide that the
Committee will review the Committee Charter at least once every twelve
months and submit the Committee Charter to the Board for approval, with
such changes, if any, as the Committee deems advisable.
---------------------------------------------------------------------------

    \9\ 17 CFR 240.17Ad-22(e)(3)(i).
---------------------------------------------------------------------------

    The proposed rule change is not inconsistent with the existing
rules of OCC, including any other rules proposed to be amended.

B. Clearing Agency's Statement on Burden on Competition

    OCC does not believe that the proposed rule change would impact or
impose any burden on competition.\10\ The proposed rule change
addresses one charter used in OCC's governance structure, and all
Clearing Members would be equally subject to these governance
arrangements. Consequently, the Committee Charter, By-Laws and Board
Charter would not provide any Clearing Member with a competitive
advantage over any other Clearing Member. Further, the proposed rule
change would not affect Clearing Member's access to OCC's services or
impose any direct burdens on Clearing Members. Accordingly, the
proposed rule change would not unfairly inhibit access to OCC's
services or disadvantage or favor any particular user in relationship
to another user.
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78q-1(b)(3)(I).
---------------------------------------------------------------------------

    For the foregoing reasons, OCC believes that the proposed rule
change is in the public interest, would be consistent with the
requirements of the Act applicable to clearing agencies, and would not
impact or impose a burden on competition.

C. Clearing Agency's Statement on Comments on the Proposed Rule Change
Received From Members, Participants or Others

    Written comments on the proposed rule change were not and are not
intended to be solicited with respect to the proposed rule change and
none have been received.

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

    Within 45 days of the date of publication of this notice in the
Federal Register or within such longer period up to 90 days (i) as the
Commission may designate if it finds such longer period to be
appropriate and publishes its reasons for so finding or (ii) as to
which the self-regulatory organization consents, the Commission will:
    (A) By order approve or disapprove the proposed rule change, or
    (B) institute proceedings to determine whether the proposed rule
change should be disapproved.

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Exchange 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-OCC-2019-008 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-OCC-2019-008. 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 such filing also will be available for

inspection and copying at the principal office of OCC and on OCC's
website at https://www.theocc.com/about/publications/bylaws.jsp.
    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-OCC-2019-008 and
should be submitted on or before October 30, 2019.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
---------------------------------------------------------------------------

    \11\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Jill M. Petersen,
Assistant Secretary.
[FR Doc. 2019-22025 Filed 10-8-19; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 80, Number 69 (Friday, April 10, 2015)]
[Proposed Rules]
[Pages 19248-19251]
[FR Doc No: 2015-08072]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. FAA-2015-0683; Directorate Identifier 2014-NM-196-AD]
RIN 2120-AA64

Airworthiness Directives; The Boeing Company Airplanes

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice of proposed rulemaking (NPRM).

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

SUMMARY: We propose to adopt a new airworthiness directive (AD) for all
The Boeing Company Model 767-200, -300, and -300F series airplanes.
This proposed AD was prompted by a finding that certain barrel nuts
installed at the vertical fin may be subject to stress corrosion and
cracking. This proposed AD would require either repetitive inspections
of vertical fin barrel nuts for corrosion or a magnetic check to
identify certain barrel nuts, and corrective actions if necessary. We
are proposing this AD to detect and correct corroded and loose barrel
nuts that attach the vertical fin to body section 48, which could
result in reduced structural integrity of the vertical fin attachment
joint, loss of the vertical fin, and consequent loss of controllability
of the airplane.

DATES: We must receive comments on this proposed AD by May 26, 2015.

ADDRESSES: You may send comments, using the procedures found in 14 CFR
11.43 and 11.45, by any of the following methods:
     Federal eRulemaking Portal: Go to http://www.regulations.gov. Follow the instructions for submitting comments.
     Fax:<PHONE_NUMBER>.
     Mail: U.S. Department of Transportation, Docket
Operations, M-30, West Building Ground Floor, Room W12-140, 1200 New
Jersey Avenue SE., Washington, DC 20590.
     Hand Delivery: Deliver to Mail address above between 9
a.m. and 5 p.m., Monday through Friday, except Federal holidays.

    For service information identified in this proposed AD, contact
Boeing Commercial Airplanes, Attention: Data & Services Management,
P.O. Box 3707, MC 2H-65, Seattle, WA 98124-2207; telephone 206-544-
5000, extension 1; fax<PHONE_NUMBER>; Internet https://www.myboeingfleet.com. You may view this referenced service information
at the FAA, Transport Airplane Directorate, 1601 Lind Avenue SW.,
Renton, WA. For information on the availability of this material at the
FAA, call<PHONE_NUMBER>. It is also available on the Internet at http://www.regulations.gov by searching for and locating Docket No. FAA 2015-
0683.

Examining the AD Docket

    You may examine the AD docket on the Internet at http://www.regulations.gov by searching for and locating Docket No. FAA-2015-
0683; or in person at the Docket Management Facility between 9 a.m. and
5 p.m., Monday through Friday, except Federal holidays. The AD docket
contains this proposed AD, the regulatory evaluation, any comments
received, and other information. The street address for the Docket
Office (phone:<PHONE_NUMBER>) is in the ADDRESSES section. Comments will
be available in the AD docket shortly after receipt.

FOR FURTHER INFORMATION CONTACT: Berhane Alazar, Aerospace Engineer,
Airframe Branch, ANM-120S, FAA, Seattle Aircraft Certification Office
(ACO), 1601 Lind Avenue SW., Renton, WA 98057-3356; phone: 425-917-
6577; fax:<PHONE_NUMBER>; email<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

Comments Invited

    We invite you to send any written relevant data, views, or
arguments about this proposal. Send your comments to an address listed
under the ADDRESSES section. Include ``Docket No. FAA-2015-0683;
Directorate Identifier 2014-NM-196-AD at the beginning of your
comments. We specifically invite comments on the overall regulatory,
economic, environmental, and energy aspects of this proposed AD. We
will consider all comments received by the closing date and may amend
this proposed AD because of those comments.
    We will post all comments we receive, without change, to http://www.regulations.gov, including any personal information you provide. We
will also post a report summarizing each substantive verbal contact we
receive about this proposed AD.

Discussion

    On May 16, 2003, we issued AD 2003-10-11, Amendment 39-13156 (68 FR
28703, May 27, 2003), to require replacement of H-11 steel barrel nuts
with new Inconel barrel nuts, because of possible corrosion and
cracking. AD 2003-10-11 applied to Model 767-200 and -300 airplanes,
line numbers 1 through 574 inclusive.
    We have received a report of H-11 steel barrel nuts installed on an
airplane not included in the applicability of AD 2003-10-11, Amendment
39-13156 (68 FR 28703, May 27, 2003). Further investigation has
revealed that airplanes with line numbers 575 through 681 had either H-
11 steel or Inconel barrel nuts installed at the 16 vertical fin
attachment points. Galvanic corrosion can occur on H-11 steel barrel
nuts if moisture is present. This condition, if not corrected, could
result in failure of the H-11 steel barrel nuts that attach the
vertical fin to body section 48, which could result in reduced
structural integrity of the vertical fin attachment joint, loss of the
vertical fin, and consequent loss of controllability of the airplane.

Related Service Information Under 1 CFR Part 51

    We reviewed Boeing Alert Service Bulletin 767-53A0261, dated August
12, 2014. The service information describes procedures for repetitive
inspections of vertical fin barrel nuts for corrosion or a magnetic
check to identify certain barrel nuts, and corrective actions if
necessary. Refer to this service information for information on the
procedures and compliance times. This service information is reasonably
available; see ADDRESSES for ways to access this service information.

FAA's Determination

    We are proposing this AD because we evaluated all the relevant
information and determined the unsafe condition described previously is
likely to exist or develop in other products of the same type design.

Proposed AD Requirements

    This proposed AD would require accomplishing the actions specified
in the service information identified previously.

Explanation of ``RC (Required for Compliance)'' Steps in Service
Information

    The FAA worked in conjunction with industry, under the
Airworthiness Directive Implementation Aviation Rulemaking Committee
(AD ARC), to enhance the AD system. One enhancement was a new process
for annotating which steps in the service information are required for
compliance with an AD. Differentiating these steps from other tasks in
the service information is expected to improve an owner's/operator's
understanding of crucial AD requirements and help provide consistent
judgment in AD compliance. The actions specified in the service
information identified previously include steps that are identified as
RC because these steps have a direct effect on detecting, preventing,
resolving, or eliminating an identified unsafe condition.
    Steps that are identified as RC in any service information must be
done to comply with the proposed AD. However, steps that are not
identified as RC are recommended. Those steps that are not identified
as RC may be deviated from using accepted methods in accordance with
the operator's maintenance or inspection program without obtaining
approval of an alternative method of compliance (AMOC), provided the
steps identified as RC can be done and the airplane can be put back in
a serviceable condition. Any substitutions or changes to steps
identified as RC will require approval of an AMOC.

Costs of Compliance

    We estimate that this proposed AD affects 38 airplanes of U.S.
registry. We estimate the following costs to comply with this proposed
AD:

                                                                     Estimated Costs
--------------------------------------------------------------------------------------------------------------------------------------------------------
               Action                          Labor cost             Parts cost             Cost per product                Cost on U.S. operators
--------------------------------------------------------------------------------------------------------------------------------------------------------
Option 1: Detailed inspections and    4 work-hours x $85 per hour              \1\  Up to $482,661 per inspection      Up to $18,341,118.
 torque check.                         = $340 per inspection cycle.                  cycle.

Option 2: Magnetic check............  4 work-hours x $85 per hour               $0  $340.............................  Up to $12,920.
                                       = $340.
--------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ For the torque check, operators may choose to rent a special tool, with rental costs up to $482,321.

    We estimate that replacing any barrel nut would take 1 work-hour,
at an average labor rate of $85 per work-hour. We have received no
definitive data that would enable us to provide cost estimates for the
cost of replacement parts. We have no way of determining the number of
aircraft that might need these replacements.
    According to the manufacturer, some of the costs of this proposed
AD may be covered under warranty, thereby reducing the cost impact on
affected individuals. We do not control warranty coverage for affected
individuals. As a result, we have included all costs in our cost
estimate.

Authority for This Rulemaking

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

Regulatory Findings

    We determined that this proposed AD would not have federalism
implications under Executive Order 13132. This proposed AD would not
have a substantial direct effect on the States, on the relationship
between the national Government and the States, or on the distribution
of power and responsibilities among the various levels of government.
    For the reasons discussed above, I certify this proposed
regulation:
    (1) Is not a ``significant regulatory action'' under Executive
Order 12866,
    (2) Is not a ``significant rule'' under the DOT Regulatory Policies
and Procedures (44 FR 11034, February 26, 1979),
    (3) Will not affect intrastate aviation in Alaska, and
    (4) Will not have a significant economic impact, positive or
negative, on a substantial number of small entities under the criteria
of the Regulatory Flexibility Act.

List of Subjects in 14 CFR Part 39

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

The Proposed Amendment

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

PART 39--AIRWORTHINESS DIRECTIVES

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

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

Sec.  39.13  [Amended]

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

The Boeing Company: Docket No. FAA-2015-0683; Directorate Identifier
2014-NM-196-AD.

(a) Comments Due Date

    We must receive comments by May 26, 2015.

(b) Affected ADs

    None.

(c) Applicability

    This AD applies to all The Boeing Company Model 767-200, -300,
and -300F series airplanes, certificated in any category.

(d) Subject

    Air Transport Association (ATA) of America Code 53, Fuselage.

(e) Unsafe Condition

    This AD was prompted by a finding that certain barrel nuts
installed at the vertical fin may be subject to stress corrosion and
cracking. We are issuing this AD to detect and correct cracked,
corroded, or broken barrel nuts that attach the vertical fin to body
section 48, which could result in reduced structural integrity of
the vertical fin attachment joint, loss of the vertical fin, and
consequent loss of controllability of the airplane.

(f) Compliance

    Comply with this AD within the compliance times specified,
unless already done.

(g) Inspection

    For airplanes identified in Boeing Alert Service Bulletin 767-
53A0261, dated August 12, 2014: Do the actions specified in
paragraph (g)(1) or (g)(2) of this AD, in accordance with the
Accomplishment Instructions of Boeing Alert Service Bulletin 767-
53A0261, dated August 12, 2014. Signs of corrosion include, but are
not limited to, sealant cracks, sealant bulging, powder residue, and
cracked barrel nuts.
    (1) At the applicable time specified in paragraph 1.E.,
``Compliance,'' of Boeing Alert Service Bulletin 767-53A0261, dated
August 12, 2014, except as provided by paragraph (h) of this AD: Do
internal and external detailed inspections of the barrel nuts and
sealant for signs of corrosion, and do a torque check of the
vertical stabilizer attachment bolts for loose barrel nuts.
    (i) If corrosion or any loose barrel nut is found at any
attachment point location, before further flight, replace the barrel
nut with a new Inconel barrel nut.
    (ii) If no corrosion or loose barrel nut is found at any
attachment point location, do the actions specified in paragraphs
(g)(1)(ii)(A) and (g)(1)(ii)(B) of this AD.
    (A) Repeat the inspections and torque check thereafter at
intervals not to exceed 18 months until the replacement specified in
paragraph (g)(1)(ii)(B) of this AD is done at that attachment point
location.
    (B) Within 36 months after the effective date of this AD,
replace all barrel nuts with new Inconel barrel nuts.
    (2) At the applicable time specified in paragraph 1.E.,
``Compliance,'' of Boeing Alert Service Bulletin 767-53A0261, dated
August 12, 2014, except as provided by paragraph (h) of this AD: Do
a magnetic check to identify H-11 steel barrel nuts.
    (i) If any H-11 steel barrel nut is found at any attachment
point location, before further flight, do an internal and external
detailed inspection of the barrel nut holes and sealant for signs of
corrosion, and do a torque check of the vertical stabilizer
attachment bolts for loose barrel nuts.
    (A) If corrosion or any loose barrel nut is found, before
further flight, replace the barrel nut with a new Inconel barrel
nut.
    (B) If no corrosion or loose barrel nut is found, do the actions
specified in paragraphs (g)(2)(i)(B)(1) and (g)(2)(i)(B)(2) of this
AD.
    (1) Repeat the inspections and torque check thereafter at
intervals not to exceed 18 months until the replacement specified in
paragraph (g)(2)(i)(B)(2) of this AD is done at that attachment
point location.

    (2) Within 36 months after the effective date of this AD,
replace all H-11 steel barrel nuts with new Inconel barrel nuts.
    (ii) If no H-11 steel barrel nut is found at all attachment
point locations, no further work is required by this paragraph.

(h) Exception to Service Information Specifications

    Where Boeing Alert Service Bulletin 767-53A0261, dated August
12, 2014, specifies a compliance time ``after the Original Issue
date of this Service Bulletin,'' this AD requires compliance within
the specified compliance time after the effective date of this AD.

(i) Parts Installation Prohibition

    As of the effective date of this AD, no person may install an H-
11 steel barrel nut on the vertical stabilizer of any airplane.

(j) Alternative Methods of Compliance (AMOCs)

    (1) The Manager, Seattle Aircraft Certification Office (ACO),
FAA, has the authority to approve AMOCs for this AD, if requested
using the procedures found in 14 CFR 39.19. In accordance with 14
CFR 39.19, send your request to your principal inspector or local
Flight Standards District Office, as appropriate. If sending
information directly to the manager of the ACO, send it to the
attention of the person identified in paragraph (k)(1) of this AD.
Information may be emailed to<EMAIL_ADDRESS>    (2) Before using any approved AMOC, notify your appropriate
principal inspector, or lacking a principal inspector, the manager
of the local flight standards district office/certificate holding
district office.
    (3) An AMOC that provides an acceptable level of safety may be
used for any repair required by this AD if it is approved by the
Boeing Commercial Airplanes Organization Designation Authorization
(ODA) that has been authorized by the Manager, Seattle ACO, to make
those findings. For a repair method to be approved, the repair must
meet the certification basis of the airplane, and the approval must
specifically refer to this AD.
    (4) If any service information contains steps that are
identified as RC, those steps must be done to comply with this AD;
any steps that are not identified as RC are recommended. Those steps
that are not identified as RC may be deviated from using accepted
methods in accordance with the operator's maintenance or inspection
program without obtaining approval of an AMOC, provided the steps
identified as RC can be done and the airplane can be put back in a
serviceable condition. Any substitutions or changes to steps
identified as RC require approval of an AMOC.

(k) Related Information

    (1) For more information about this AD, contact Berhane Alazar,
Aerospace Engineer, Airframe Branch, ANM-120S, FAA, Seattle Aircraft
Certification Office (ACO), 1601 Lind Avenue SW., Renton, WA 98057-
3356; phone:<PHONE_NUMBER>; fax:<PHONE_NUMBER>; email:
<EMAIL_ADDRESS>    (2) For service information identified in this AD, contact
Boeing Commercial Airplanes, Attention: Data & Services Management,
P.O. Box 3707, MC 2H-65, Seattle, WA 98124-2207; telephone 206-544-
5000, extension 1; fax<PHONE_NUMBER>; Internet https://www.myboeingfleet.com. You may view this referenced service
information at the FAA, Transport Airplane Directorate, 1601 Lind
Avenue SW., Renton, WA. For information on the availability of this
material at the FAA, call<PHONE_NUMBER>.

    Issued in Renton, Washington, on March 24, 2015.
Michael Kaszycki,
Acting Manager, Transport Airplane Directorate, Aircraft Certification
Service.
[FR Doc. 2015-08072 Filed 4-9-15; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 83, Number 39 (Tuesday, February 27, 2018)]
[Rules and Regulations]
[Pages 8334-8336]
[FR Doc No: 2018-03528]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 97

[Docket No. 31179; Amdt. No. 3787]

Standard Instrument Approach Procedures, and Takeoff Minimums and
Obstacle Departure Procedures; Miscellaneous Amendments

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final rule.

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SUMMARY: This rule establishes, amends, suspends, or removes Standard
Instrument Approach Procedures (SIAPs) and associated Takeoff Minimums
and Obstacle Departure Procedures (ODPs) for operations at certain
airports. These regulatory actions are needed because of the adoption
of new or revised criteria, or because of changes occurring in the
National Airspace System, such as the commissioning of new navigational
facilities, adding new obstacles, or changing air traffic requirements.
These changes are designed to provide safe and efficient use of the
navigable airspace and to promote safe flight operations under
instrument flight rules at the affected airports.

DATES: This rule is effective February 27, 2018. The compliance date
for each SIAP, associated Takeoff Minimums, and ODP is specified in the
amendatory provisions.
    The incorporation by reference of certain publications listed in
the regulations is approved by the Director of the Federal Register as
of February 27, 2018.

ADDRESSES: Availability of matters incorporated by reference in the
amendment is as follows:

For Examination

    1. U.S. Department of Transportation, Docket Ops-M30, 1200 New
Jersey Avenue SE, West Bldg., Ground Floor, Washington, DC 20590-0001.
    2. The FAA Air Traffic Organization Service Area in which the
affected airport is located;
    3. The office of Aeronautical Navigation Products, 6500 South
MacArthur Blvd., Oklahoma City, OK 73169 or,
    4. The National Archives and Records Administration (NARA). For
information on the availability of this material at NARA, call 202-741-
6030, or go to: http://www.archives.gov/federal_register/code_of_federal_regulations/ibr_locations.html.

Availability

    All SIAPs and Takeoff Minimums and ODPs are available online free
of charge. Visit the National Flight Data Center at nfdc.faa.gov to
register. Additionally, individual SIAP and Takeoff Minimums and ODP
copies may be obtained from the FAA Air Traffic Organization Service
Area in which the affected airport is located.

FOR FURTHER INFORMATION CONTACT: Thomas J. Nichols, Flight Procedure
Standards Branch (AFS-420), Flight Technologies and Programs Divisions,
Flight Standards Service, Federal Aviation Administration, Mike
Monroney Aeronautical Center, 6500 South MacArthur Blvd., Oklahoma
City, OK 73169 (Mail Address: P.O. Box 25082, Oklahoma City, OK 73125),
Telephone:<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: This rule amends Title 14 of the Code of
Federal Regulations, Part 97 (14 CFR part 97), by establishing,
amending, suspending, or removes SIAPS, Takeoff Minimums and/or ODPS.
The complete regulatory description of each SIAP and its associated
Takeoff Minimums or ODP for an identified airport is listed on FAA form
documents which are incorporated by reference in this amendment under 5
U.S.C. 552(a), 1 CFR part 51, and 14 CFR part 97.20. The applicable FAA
forms are FAA Forms 8260-3, 8260-4, 8260-5, 8260-15A, and 8260-15B when
required by an entry on 8260-15A.
    The large number of SIAPs, Takeoff Minimums and ODPs, their complex
nature, and the need for a special format make publication in the
Federal Register expensive and impractical. Further, airmen do not use
the regulatory text of the SIAPs, Takeoff Minimums or ODPs, but instead
refer to their graphic depiction on charts printed by publishers of
aeronautical materials. Thus, the advantages of incorporation by
reference are realized and publication of the complete description of
each SIAP, Takeoff Minimums and ODP listed on FAA form documents is
unnecessary. This amendment provides the affected CFR sections and
specifies the types of SIAPs, Takeoff Minimums and ODPs with their
applicable effective dates. This amendment also identifies the airport
and its location, the procedure, and the amendment number.

Availability and Summary of Material Incorporated by Reference

    The material incorporated by reference is publicly available as
listed in the ADDRESSES section.
    The material incorporated by reference describes SIAPS, Takeoff
Minimums and/or ODPS as identified in the amendatory language for part
97 of this final rule.

The Rule

    This amendment to 14 CFR part 97 is effective upon publication of
each separate SIAP, Takeoff Minimums and ODP as Amended in the
transmittal. Some SIAP and Takeoff Minimums and textual ODP amendments
may have been issued previously by the FAA in a Flight Data Center
(FDC) Notice to Airmen (NOTAM) as an emergency action of immediate
flight safety relating directly to published aeronautical charts.
    The circumstances that created the need for some SIAP and Takeoff
Minimums and ODP amendments may require making them effective in less
than 30 days. For the remaining SIAPs and Takeoff Minimums and ODPs, an
effective date at least 30 days after publication is provided.
    Further, the SIAPs and Takeoff Minimums and ODPs contained in this
amendment are based on the criteria contained in the U.S. Standard for
Terminal Instrument Procedures (TERPS). In developing these SIAPs and
Takeoff Minimums and ODPs, the TERPS criteria were applied to the
conditions existing or anticipated at the affected airports. Because of
the close and immediate relationship between these SIAPs, Takeoff
Minimums and ODPs, and safety in air commerce, I find that notice and
public procedure under 5 U.S.C. 553(b) are impracticable and contrary
to the public interest and, where applicable, under 5 U.S.C 553(d),
good cause exists for making some SIAPs effective in less than 30 days.
    The FAA has determined that this regulation only involves an
established body of technical regulations for which frequent and
routine amendments are necessary to keep them operationally current.
It, therefore--(1) is not a ``significant regulatory action'' under
Executive Order 12866; (2) is not a ``significant rule'' under DOT
Regulatory Policies and Procedures (44 FR 11034; February 26, 1979);
and (3) does not warrant preparation of a regulatory evaluation as the
anticipated impact is so minimal. For the same reason, the FAA
certifies that this amendment will not have a significant economic
impact on a substantial number of small entities under the criteria of
the Regulatory Flexibility Act.

List of Subjects in 14 CFR Part 97

    Air Traffic Control, Airports, Incorporation by reference,
Navigation (Air).

    Issued in Washington, DC, on February 9, 2018.
John S. Duncan,
Director, Flight Standards Service.

Adoption of the Amendment

    Accordingly, pursuant to the authority delegated to me, Title 14,
Code of Federal Regulations, Part 97 (14 CFR part 97) is amended by
establishing, amending, suspending, or removing Standard Instrument
Approach Procedures and/or Takeoff Minimums and Obstacle Departure
Procedures effective at 0901 UTC on the dates specified, as follows:

PART 97--STANDARD INSTRUMENT APPROACH PROCEDURES

0
1. The authority citation for part 97 continues to read as follows:

    Authority:  49 U.S.C. 106(f), 106(g), 40103, 40106, 40113,
40114, 40120, 44502, 44514, 44701, 44719, 44721-44722.

0
2. Part 97 is amended to read as follows:

Effective 29 March 2018

Buckland, AK, Buckland, Takeoff Minimums and Obstacle DP, Amdt 2
Fairbanks, AK, Fairbanks Intl, ILS OR LOC RWY 2L, ILS RWY 2L (SA CAT
I), ILS RWY 2L (CAT II), ILS RWY 2L (CAT III), Amdt 10A
Fairbanks, AK, Fairbanks Intl, ILS OR LOC RWY 20R, ILS RWY 20R (SA
CAT I), ILS RWY 20R (SA CAT II), Amdt 25A
Fairbanks, AK, Fairbanks Intl, RNAV (GPS) Y RWY 2L, Amdt 1A
Fairbanks, AK, Fairbanks Intl, RNAV (GPS) Y RWY 20R, Amdt 1B
Fairbanks, AK, Fairbanks Intl, VOR OR TACAN RWY 20R, Orig-A
Miami, FL, Dade-Collier Training and Transition, ILS OR LOC RWY 9,
Amdt 15A, CANCELED
Miami, FL, Dade-Collier Training and Transition, NDB RWY 9, Amdt 14,
CANCELED
Miami, FL, Dade-Collier Training and Transition, RNAV (GPS) RWY 9,
Orig-A

Fitzgerald, GA, Fitzgerald Muni, LOC RWY 2, Amdt 2
Fitzgerald, GA, Fitzgerald Muni, NDB RWY 2, Amdt 2
Fitzgerald, GA, Fitzgerald Muni, RNAV (GPS) RWY 2, Amdt 2
Council Bluffs, IA, Council Bluffs Muni, RNAV (GPS) RWY 14, Amdt 3
Council Bluffs, IA, Council Bluffs Muni, RNAV (GPS) RWY 32, Amdt 1
Chicago/Lake in the Hills, IL, Lake in the Hills, RNAV (GPS) RWY 8,
Orig-A
Chicago, IL, Chicago Midway Intl, RNAV (RNP) Y RWY 31C, Orig-B
Gary, IN, Gary/Chicago Intl, RNAV (GPS) Y RWY 12, Amdt 2
New Castle, IN, New Castle-Henry Co Muni, NDB RWY 10, Orig
New Castle, IN, New Castle-Henry Co Muni, NDB OR GPS RWY 9, Amdt 5C,
CANCELED
New Castle, IN, New Castle-Henry Co Muni, RNAV (GPS) RWY 9, Orig-A,
CANCELED
New Castle, IN, New Castle-Henry Co Muni, RNAV (GPS) RWY 10, Orig
New Castle, IN, New Castle-Henry Co Muni, RNAV (GPS) RWY 27, Orig-B,
CANCELED
New Castle, IN, New Castle-Henry Co Muni, RNAV (GPS) RWY 28, Orig
New Castle, IN, New Castle-Henry Co Muni, Takeoff Minimums and
Obstacle DP, Amdt 1
New Castle, IN, New Castle-Henry Co Muni, VOR RWY 27, Amdt 10A,
CANCELED
Leonardtown, MD, St Mary's County Rgnl, RNAV (GPS) RWY 11, Amdt 2
Detroit, MI, Willow Run, ILS OR LOC RWY 5R, Amdt 16
Detroit, MI, Willow Run, RNAV (GPS) RWY 5R, Amdt 2
Detroit, MI, Willow Run, RNAV (GPS) RWY 23R, Amdt 1B
Hastings, MI, Hastings, Takeoff Minimums and Obstacle DP, Amdt 6
Brownfield, TX, Terry County, RNAV (GPS) RWY 2, Amdt 1
Brownfield, TX, Terry County, RNAV (GPS) RWY 20, Amdt 1
Cheyenne, WY, Cheyenne Rgnl/Jerry Olson Field, RADAR 1, Amdt 2
Cheyenne, WY, Cheyenne Rgnl/Jerry Olson Field, RNAV (GPS) RWY 9,
Amdt 1B
Cheyenne, WY, Cheyenne Rgnl/Jerry Olson Field, RNAV (GPS) RWY 13,
Amdt 1B
Cheyenne, WY, Cheyenne Rgnl/Jerry Olson Field, RNAV (GPS) RWY 27,
Orig-C
Cheyenne, WY, Cheyenne Rgnl/Jerry Olson Field, RNAV (GPS) RWY 31,
Amdt 1B
Cheyenne, WY, Cheyenne Rgnl/Jerry Olson Field, VOR OR TACAN-A, Amdt
10B
    RESCINDED: On January 26, 2018 (83 FR 3572), the FAA Published
an Amendment in Docket No. 31175, Amdt No. 3783, to Part 97 of the
Federal Aviation Regulations Under Section 97.23, 97.29, and 97.33.
The Following Entries for East Tawas, MI, Duluth, MN, and Dayton,
OH, Effective March 29, 2018, Are Hereby Rescinded in Their
Entirety:
East Tawas, MI, Iosco County, VOR-A, Amdt 8, CANCELED
Duluth, MN, Duluth Intl, COPTER ILS OR LOC RWY 27, Amdt 2B
Duluth, MN, Duluth Intl, ILS OR LOC RWY 9, ILS RWY 9 (SA CAT I), ILS
RWY 9 (CAT II), Amdt 22B
Duluth, MN, Duluth Intl, ILS OR LOC RWY 27, Amdt 10C
Dayton, OH, James M Cox Dayton Intl, ILS OR LOC RWY 18, Amdt 10A
Dayton, OH, James M Cox Dayton Intl, ILS OR LOC RWY 24L, Amdt 10A
Dayton, OH, James M Cox Dayton Intl, ILS OR LOC RWY 24R, Amdt 10A

[FR Doc. 2018-03528 Filed 2-26-18; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 77, Number 236 (Friday, December 7, 2012)]
[Notices]
[Pages 73104-73106]
[FR Doc No: 2012-29605]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-68343; File No. SR-NASDAQ-2012-118]

Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Order
Approving Proposed Rule Change To Modify Certain Disclosure
Requirements To Require Issuers To Publicly Describe the Specific Basis
and Concern Identified by Nasdaq When a Listed Issuer Does Not Meet a
Listing Standard and Give Nasdaq the Authority To Make a Public
Announcement When a Listed Issuer Fails To Make a Public Announcement

December 3, 2012.

I. Introduction

    On October 3, 2012, The NASDAQ Stock Market LLC (``Nasdaq'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission''), pursuant to Section 19(b)(1) of the Securities
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a
proposed rule change to modify certain disclosure requirements
surrounding a listed issuer's non-compliance with the Exchange's
listing rules and give the Exchange the authority to issue a public
announcement when a listed issuer fails to do so. The proposed rule
change was published in the Federal Register on October 19, 2012.\3\
The Commission received no comments on the proposal. This order
approves the proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 34-68053 (October
15, 2012), 77 FR 64369.
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II. Description of the Proposal

    Before an issuer lists its securities on the Exchange for trading,
the issuer and the securities must meet the Exchange's initial listing
standards.\4\ These standards include, among other things, minimum
financial standards such as total market value, stock price, the number
of publicly traded shares, and corporate governance standards to ensure
transparency and accountability to the issuer's stakeholders. Once the
securities are listed for trading, the issuer and the securities would
need to meet the Exchange's continued listing standards to remain
listed on the Exchange.\5\
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    \4\ See Nasdaq Rule 5000 series.
    \5\ See id.
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    In addition to the quantitative and corporate governance listing
standards, Nasdaq Rule 5101 also gives the Exchange discretion to deny
listing or continued listing based on any event or condition that makes
such listing or continued listing inadvisable or unwarranted, even
though the securities meet all enumerated standards.\6\ Nasdaq rules
discuss in more detail the use of such discretion and state that the
Exchange may deny initial or continued listing because it has concluded
that ``* * * a public interest concern is so serious that no remedial
measure would be sufficient to alleviate it.'' \7\
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    \6\ See Nasdaq Rule 5101.
    \7\ See Nasdaq Rule IM-5101-1.
---------------------------------------------------------------------------

    Nasdaq rules provide that when a listed issuer does not meet the
Exchange's continued listing standards, Nasdaq would immediately notify
the issuer of the deficiency.\8\ The Exchange notification consists of:
(1) Staff delisting determination which subjects the issuer and its
securities to immediate suspension and delisting, unless appealed; (2)
notification of deficiency for which the issuer may submit a plan of
compliance; (3) notification of deficiency for which the issuer is
entitled to automatic cure or compliance period; or (4) public
reprimand letters (collectively ``Nasdaq Staff Determinations''). After
a listed issuer receives a Nasdaq Staff Determination, Nasdaq rules
require the issuer to make a public announcement disclosing receipt of
the notification and the Exchange rules upon which the Nasdaq Staff
Determination is based.\9\
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    \8\ See Nasdaq Rule 5810.
    \9\ See Nasdaq Rule 5815(b). Nasdaq rules also provide for
review and/or appeals. See Nasdaq Rule 5800 series. The Exchange's
listing qualification department would notify the issuer of the
deficiency. See Nasdaq Rule 5810. Thereafter, the Exchange's hearing
panel, if requested by the issuer on a timely basis, would review
the delisting determination at a hearing. See Nasdaq Rule 5815. The
Exchange's listing and hearings review council could review the
decision of the Exchange's hearing panel, either on its own or
through the appeal of the issuer. See Nasdaq Rule 5820. Lastly, the
Exchange's board of directors could review the decision of the
Exchange's review council. See Nasdaq Rule 5825.
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    Currently, the Exchange's rules require the listed issuer, after
receiving a Nasdaq Staff Determination, to make a public announcement
by filing a Form 8-K when required by Commission rules or by issuing a
press release disclosing receipt of the Nasdaq Staff Determination and
the Exchange rules upon which the deficiency is based.\10\
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    \10\ See Nasdaq Rules 5250(b)(2), 5810(b) and IM-5810. The
Commission notes that under Nasdaq Rule 5810, an issuer that is late
in filing a periodic report must issue a press announcement by
issuing a press release disclosing receipt of the Nasdaq Staff
Determination and the Nasdaq rules upon which the deficiency is
based, in addition to filing any Form 8-K as required by Commission
rules.
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    In its proposal, the Exchange stated that some issuers comply with
this

requirement by merely disclosing the Exchange rule number and a
description of such rule, but do not provide additional disclosure to
allow the public to understand the deficiency or the underlying basis
for it. The Exchange stated, for example, that in situations where the
deficiency is not related to the quantitative continued listing
standards, such as when the Exchange initiates delisting proceedings
due to public interest concerns under Nasdaq Rule 5101, such issuer
disclosure would not be adequate for the public if the listed issuer's
public announcement only cites to Exchange Rule 5101 and does not
provide any details on the nature of the deficiency.
    The Exchange proposes to change its rules in several ways to
address this issue. First, the Exchange would require issuers to
disclose each specific basis and concern cited by Nasdaq in the Nasdaq
Staff Determination.\11\ The Exchange proposal would also indicate that
issuers can provide their own analysis of the issues raised in the
Exchange's delisting determination.\12\ Finally, the Exchange proposes
to allow it to issue a public announcement if a listed issuer does not
make the required announcement or at any level of a proceeding after an
issuer receives a Nasdaq Staff Determination involving an issuer's
listing or trading.\13\ For example, if the issuer does not make the
public announcement within the allotted time, if the issuer's public
announcement does not contain all of the required information, or if
the issuer's public announcement contains inaccurate or misleading
information, the Exchange stated that it may issue a public
announcement with the required information.\14\
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    \11\ See proposed Nasdaq Rules 5250(b)(2), 5810(b) and IM-5810-
1. This new requirement would be in addition to the current
requirement for a listed issuer to disclose receipt of a Nasdaq
Staff Determination and the rules upon which it is based.
    \12\ See proposed Nasdaq Rule IM-5810-1.
    \13\ See proposed Nasdaq Rules IM-5810-1 and 5840(l).
    \14\ See proposed Nasdaq Rules IM-5810-1. Currently, if the
public announcement is not made by the listed issuer within the time
allotted, the Exchange would halt trading of the securities. The
Exchange proposes to halt trading if the issuer's public
announcement does not include all of the required information and to
allow the Exchange to make a public announcement with the required
information. See proposed Nasdaq Rule IM-5810-1. The Exchange also
proposes to resume trading if the Exchange makes the public
announcement if the issuer's failure to make the announcement is the
only basis for the trading halt. Id.
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III. Discussion and Findings

    After careful review, the Commission finds that the proposed rule
change is consistent with the requirements of the Act and the rules and
regulations thereunder applicable to a national securities
exchange.\15\ In particular, the Commission finds that the proposed
rule change is consistent with Section 6(b)(5) of the Act,\16\ which
requires, among other things, that the rules of a national securities
exchange be designed to prevent fraudulent and manipulative acts and
practices, to promote just and equitable principles of trade, to foster
cooperation and coordination with persons engaged in regulating,
clearing, settling, processing information with respect to, and
facilitating transactions in securities, 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.
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    \15\ In approving the proposed rule change, the Commission has
considered the proposal's impact on efficiency, competition, and
capital formation. 15 U.S.C. 78c(f).
    \16\ 15 U.S.C. 78f(b)(5).
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    The development and enforcement of meaningful listing standards for
an exchange is of substantial importance to financial markets and the
investing public. Among other things, listing standards provide the
means for an exchange to screen issuers that seek to become listed and
to provide listed status only to those that are bona fide issuers with
sufficient public float, investor base, and trading interest likely to
generate depth and liquidity sufficient to promote fair and orderly
markets. Meaningful listing standards also are important given investor
expectations regarding the nature of securities that have achieved an
exchange listing, and the role of an exchange in overseeing its market,
assuring compliance with its listing standards and detecting and
deterring manipulative trading activity.
    The Commission finds that the proposed rule change is consistent
with the requirements of the Act. The proposal would require an issuer,
after receipt of a notification of deficiency of the Exchange's
continued listing standards, to issue more detailed public
announcements on the concerns identified in the Exchange's
determination. Currently, issuers are required to disclose receipt of
the notification and the Exchange rule(s) upon which the deficiency is
based. As the Exchange noted, in certain instances such disclosure is
inadequate. For example, some delisting notifications are based on the
Exchange exercising its public interest authority pursuant to Exchange
Rule 5101. Mere disclosure of the Exchange rule number would not
provide investors with the necessary information as to the reasons
behind the Exchange's deficiency determination. The Commission believes
that this proposal should provide investors with additional important
information on the listed issuer in order to help investors make
informed trading decisions.
    As noted above, the Exchange's rules give listed issuers the right
to appeal a delisting determination or public reprimand letter.\17\
This process at the first appeal level involving a hearing panel review
can take up to six months. Without adequate disclosure of the specific
basis and concerns identified by the Exchange during this appeal
process, investors may not have full disclosure of the issues involving
the listed issuer that gave rise to the deficiency and that may affect
an investment decision. The Commission also notes that the proposal
furthers the intent behind the original requirement that a listed
issuer publicly announce in either its 8-K, if applicable, or a press
release that it has received a Nasdaq Staff Determination for a
deficiency and the rule on which it is based, which is to ensure
adequate disclosure to the public and investors on the deficiency. The
proposal will help to ensure that this purpose cannot be avoided by
minimal disclosure. The Commission believes that the benefits of full
disclosure on the specific basis for a Nasdaq Staff Determination
should help to prevent fraudulent and manipulative acts and practices
and further investor protection and the public interest, consistent
with Section 6(b)(5) under the Act.
---------------------------------------------------------------------------

    \17\ See supra note 9.
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    In addition, as described above, Nasdaq's proposal also
specifically states that in its public announcement, a listed issuer
can provide its own analysis of the issues raised in a staff delisting
determination. While the Commission notes that the appropriate forum
for appealing a delisting determination is within the adjudicatory
process provided in the Exchange's rules and this provision should not
be used as a way to litigate the issues through the public
announcement, the proposed rule simply reflects that issuers may
currently make public announcements for a variety of reasons. In the
event that an issuer discloses inaccurate or misleading analysis, the
Exchange represented that the Exchange could use the new authority in
proposed Nasdaq Rule 5840(l), as discussed below, to issue an Exchange
clarifying public announcement.\18\ The

Commission believes that the proposal is reasonably balanced to allow
issuers to express their analysis, while the proposed rules help to
ensure that there will not be inaccurate, misleading or confusing
public information through the Exchange's authority to issue its own
public announcement in response to such issuer's announcement. The
Commission expects the Exchange to actively monitor issuers' analysis
and for the Exchange to promptly issue a public announcement if the
Exchange detects misleading or inaccurate information.\19\ Based on the
above, the Commission believes that, consistent with Section 6(b)(5) of
the Act, that the proposal should prevent fraudulent and manipulative
acts and practices and further investor protection.
---------------------------------------------------------------------------

    \18\ The Commission notes that this order only addresses issues
raised by the Exchange's proposal and does not address any issues or
liabilities that may arise under the Act.
    \19\ The Commission expects Nasdaq to monitor the new
requirements and propose to make changes if necessary.
---------------------------------------------------------------------------

    The Commission also finds that the proposed changes that would
allow the Exchange to make an issuer's required public announcement
about a Nasdaq Staff Determination should the issuer fail to do so
within the time allotted or if the announcement does not contain all
the required information are consistent with the requirements of the
Act. The Commission notes that, for the same reasons noted above, it is
important that there is adequate notification of a Nasdaq Staff
Determination to investors and the public. Therefore, if the issuer
fails to make the required disclosure the Exchange will have the
authority to do so. The Commission notes that the proposal is similar
to the rules of another national securities exchange.\20\ As described
above, the Exchange's proposal will also clarify some of the rule
language concerning a trading halt that is imposed for an issuer's
failure to make the public announcement, and update these requirements
to reflect the other changes being adopted herein. The Commission
believes these changes are appropriate and will ensure that a trading
halt can be imposed for failure to adequately disclose information in
the public announcement, and clarify that such trading halt would be
lifted after the Exchange makes the public announcement assuming that
is the only basis for the trading halt. Based on the above, the
Commission believes that these aspects of the proposal are consistent
with furthering investor protection and the public interest.
---------------------------------------------------------------------------

    \20\ See New York Stock Exchange Listed Company Manual Section
802.02.
---------------------------------------------------------------------------

    Finally, the Commission believes that the proposed new provision
that gives the Exchange the authority to make a public announcement
involving an issuer's listing or trading on Nasdaq at any level of a
proceeding under its Rule 5800 Series in order to maintain the quality
of and public confidence in its markets and to protect investors and
the public interest is consistent with the Act. For example, the
Exchange could use this authority to counter any inaccurate or
misleading statements in an issuer's own public announcement with
respect to the issuer's delisting. The Commission also believes that
this authority could be useful in those situations, as noted by Nasdaq
in its filing, where an issuer is trading in the over-the-counter
market pending its delisting appeal and does not make its own
announcement when the appeal is finally denied. In such a situation,
Nasdaq could use its authority to make such an announcement. In both
situations noted above, allowing the Exchange to make a public
announcement if there is a lack of accurate public information
concerning a Nasdaq Staff Determination would be important for
investors and the public interest consistent with Section 6(b)(5) of
the Act.\21\
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    \21\ The Commission does not believe giving the Exchange the
authority to make such public announcements replaces any due process
or rights to appeal a delisting notification or public reprimand
letter under the Exchange's adjudicatory process, but rather is
meant simply to provide a way for the public to get accurate
information about an issuer that is subject to a Staff
Determination. The Commission expects the Exchange to monitor its
use of this authority consistent with this purpose.
---------------------------------------------------------------------------

IV. Conclusion

    It is therefore ordered that, pursuant to Section 19(b)(2) of the
Act,\22\ that the proposed rule change (SR-NASDAQ-2012-118) be, and it
hereby is, approved.
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    \22\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\23\
---------------------------------------------------------------------------

    \23\ 17 CFR 200.30-3(a)(12).
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Kevin O'Neill,
Deputy Secretary.
[FR Doc. 2012-29605 Filed 12-6-12; 8:45 am]
BILLING CODE 8011-01-P