[Federal Register Volume 77, Number 146 (Monday, July 30, 2012)]
[Rules and Regulations]
[Pages 44472-44475]
[FR Doc No: 2012-18453]

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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 165

[Docket No. USCG-2012-0641]
RIN 1625-AA00

Safety Zone; Port Valdez, Alaska Maritime Highway System Ferry
Terminal

AGENCY: Coast Guard, DHS.

ACTION: Temporary final rule.

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SUMMARY: The Coast Guard is establishing a temporary safety zone
encompassing the navigable waters within a 200-yard radius of the
Alaska Marine Highway System (AMHS) Terminal in Port Valdez when an
AMHS Ferry is arriving or departing when there is an ongoing fishing
opener that includes the navigable waters within a 200-yard radius of
the AMHS Ferry Terminal. This safety zone is necessary to provide for
the safety of passenger vessels and fishing vessels in the area during
periods of increased vessel traffic. The purpose of the safety zone is
to restrict non-ferry vessel traffic from entering a 200-yard radius of
the AMHS Ferry Terminal while the ferry is within 200-yards of the
pier. Persons desiring to transit within these safety zones must
contact the Captain of the Port, Prince William Sound, Alaska or the
designated on scene representative on VHF channel 13 (156.650 MHz) to
receive permission.

DATES: This temporary final rule will remain in effect from July 8,
2012, until August 1, 2012.

ADDRESSES: Documents indicated in this preamble as being available in
the docket are part of docket (COTP Prince William Sound USCG-2012-
0641) and are available for inspection or copying at USCG Marine Safety
Unit Valdez Office, Valdez, AK between 8 a.m. and 4 p.m., Monday
through Friday, except Federal holidays.

FOR FURTHER INFORMATION CONTACT: LCDR Danielle Wiley, Chief, Waterways
Management, USCG Marine Safety Unit Valdez, at<PHONE_NUMBER>, email
<EMAIL_ADDRESS>If you have questions on viewing the docket,
call Renee V. Wright, Program Manager, Docket Operations, telephone
(202) 366-9826.

SUPPLEMENTARY INFORMATION:

Regulatory Information

    The Coast Guard is issuing this temporary final rule without prior
notice and opportunity to comment pursuant to authority under section
4(a) of the Administrative Procedure Act (APA) (5 U.S.C. 553(b)). This
provision authorizes an agency to issue a rule without prior notice and
opportunity to comment when the agency for good cause finds that those
procedures are ``impracticable, unnecessary, or contrary to the public
interest.'' Under 5 U.S.C. 553(b)(B), the Coast Guard finds that good
cause exists for not publishing a notice of proposed rulemaking (NPRM)
with respect to this rule because fishing openers in Prince William
Sound, which includes the Port of Valdez, are announced the evening
before the opener by the Alaska Department of Fish and Game, which does
not afford time for public feedback on a safety zone that will be in
effect only when that opener includes the area of Port Valdez that
includes the AMHS Terminal.
    In the past, during the month of July, the Alaska Department of
Fish and Game has announced fishing openers in the Port of Valdez with
less than less than 24 hours advance notice. Furthermore, there have
been instances when ferries arriving/departing the AMHS Ferry Terminal
have encountered fishing vessels holding station and setting nets in
positions that created safety hazards for the passenger vessels that
were trying to safely maneuver to and from the pier. Any delay
encountered in this regulation's effective date by publishing a NPRM
would be contrary to public interest, since immediate action is needed
to provide for the safety of life and property on navigable waters
during these fishing openers.
    Under 5 U.S.C. 553(d)(3), the Coast Guard finds, for the reasons
noted above, that good cause exists for making this rule effective less
than 30 days after publication in the Federal Register.

Basis and Purpose

    The legal basis for this rule is 33 U.S.C. 1231; 46 U.S.C. chapter
701, 3306, 3703; 50 U.S.C. 191, 195; 33 CFR 1.05-1, 6.04-1, 6.04-6,
160.5; Public Law 107-295, 116 Stat. 2064; Department of Homeland
Security Delegation No. 0170.1. which collectively authorize the Coast
Guard to define regulatory safety zones.
    The safety zone is necessary to protect all vessels operating in
the vicinity of the AMHS Ferry Terminal. The safety zone will terminate
whenever a departing ferry vessel is more than 200 yards from the AMHS
Ferry Terminal. The safety zone will also terminate whenever an
arriving ferry vessel moors to the pier. The impact of this rule on
commercial and recreational traffic is expected to be minimal because
of the limited area and duration of the safety zone.

Discussion of Rule

    The Coast Guard is establishing a temporary 200-yard safety zone
around the AMHS Ferry Terminal at position 61[deg]07'26'' N and
146[deg]21'50'' W in the navigable waters of Port Valdez. The zone will
only be in effect when a ferry vessel is within 200 yards of the AMHS
Ferry Terminal, between July 3, 2012, and August 1, 2012, and when
there is an Alaska Department of Fish and Game fish opener that
includes the 200-yard radius surrounding the AMHS pier. The limited
size and duration of the zone is designed to minimize the impact on
other vessels transiting the waters of Port Valdez.

Regulatory Analyses

    We developed this rule after considering numerous statutes and
executive orders related to rulemaking. Below we summarize our analyses
based on 13 of these statutes or executive orders.

Regulatory Planning and Review

    This rule is not a ``significant regulatory action'' under section
3(f) of Executive Order 12886, Regulatory Planning and Review, and does
not require an assessment of potential costs and benefits under section
6(a)(3) of that Order. The Office of Management and Budget has not
reviewed it under that Order. It is not ``significant'' under the
regulatory policies and procedures of the Department of Homeland
Security (DHS). This finding is based on the limited size and duration
of the safety zone which will have minimal, if any, impact on vessels
transiting the waters of Prince William Sound and Port Valdez.

Small Entities

    Under the Regulatory Flexibility Act (5 U.S.C. 601-612), we have
considered whether this rule would have a significant economic impact
on a substantial number of small entities. The term ``small entities''
comprises small businesses, not-for-profit organizations that are
independently owned and operated and are not dominant in their fields,
and governmental jurisdictions with populations of less than 50,000.
    The Coast Guard certifies under 5 U.S.C. 605(b) that this rule will
not have a significant economic impact on a substantial number of small
entities.
    The ruling will affect the following entities, some of which may be
small entities: Recreational, ferry, and fishing vessels for very short
periods of time and improve the safe operations for all parties
involved by reducing risk to life and property. This rule will only be
enforced during an AMHS ferry's arrival or departure from the AMHS
Ferry Terminal from July 3, 2012, until August 1, 2012, and from the
time a fish opener begins until it expires. Vessel traffic can pass
safely around the zone. Before the effective period, we will issue
maritime advisories widely available to users of Port Valdez via VHF CH
13. Broadcast Notice to

Mariners will also be made on CH 16. All indications are that there
will be minimal impact to small entities.

Assistance for Small Entities

    Under section 213(a) of the Small Business Regulatory Enforcement
Fairness Act of 1996 (Pub. L. 104-121), we offer to assist small
entities in understanding the rule so that they can better evaluate its
effects on them and participate in the rulemaking process.
    Small businesses may send comments on the actions of Federal
employees who enforce, or otherwise determine compliance with, Federal
regulations to the Small Business and Agriculture Regulatory
Enforcement Ombudsman and the Regional Small Business Regulatory
Fairness Boards. The Ombudsman evaluates these actions annually and
rates each agency's responsiveness to small business. If you wish to
comment on actions by employees of the Coast Guard, call 1-888-REG-FAIR
(1-888-734-3247). The Coast Guard will not retaliate against small
entities that question or complain about this rule or any policy or
action of the Coast Guard.

Collection of Information

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

Federalism

    A rule has implications for federalism under Executive Order 13132,
Federalism, if it has a substantial direct effect on State or local
governments and would either preempt State law or impose a substantial
direct cost of compliance on them. We have analyzed this rule under
that Order and have determined that it does not have implications for
federalism.

Unfunded Mandates Reform Act

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

Taking of Private Property

    This rule will not cause a taking of private property or otherwise
have taking implications under Executive Order 12630, Governmental
Actions and Interference with Constitutionally Protected Property
Rights.

Civil Justice Reform

    This rule meets applicable standards in sections 3(a) and 3(b)(2)
of Executive Order 12988, Civil Justice Reform, to minimize litigation,
eliminate ambiguity, and reduce burden.

Protection of Children

    We have analyzed this rule under Executive Order 13045, Protection
of Children from Environmental Health Risks and Safety Risks. This rule
is not an economically significant rule and does not create an
environmental risk to health or risk to safety that may
disproportionately affect children.

Indian Tribal Governments

    This rule does not have tribal implications under Executive Order
13175, Consultation and Coordination with Indian Tribal Governments,
because it does not have a substantial direct effect on one or more
Indian tribes, on the relationship between the Federal Government and
Indian tribes, or on the distribution of power and responsibilities
between the Federal Government and Indian tribes.

Energy Effects

    We have analyzed this rule under Executive Order 13211, Actions
Concerning Regulations That Significantly Affect Energy Supply,
Distribution, or Use. We have determined that it is not a ``significant
energy action'' under that order because it is not a ``significant
regulatory action'' under Executive Order 12866 and is not likely to
have a significant adverse effect on the supply, distribution, or use
of energy. The Administrator of the Office of Information and
Regulatory Affairs has not designated it as a significant energy
action. Therefore, it does not require a Statement of Energy Effects
under Executive Order 13211.

Technical Standards

    The National Technology Transfer and Advancement Act (NTTAA) (15
U.S.C. 272 note) directs agencies to use voluntary consensus standards
in their regulatory activities unless the agency provides Congress,
through the Office of Management and Budget, with an explanation of why
using these standards would be inconsistent with applicable law or
otherwise impractical. Voluntary consensus standards are technical
standards (e.g., specifications of materials, performance, design, or
operation; test methods; sampling procedures; and related management
systems practices) that are developed or adopted by voluntary consensus
standards bodies.
    This rule does not use technical standards. Therefore, we did not
consider the use of voluntary consensus standards.

Environment

    We have analyzed this rule under Department of Homeland Security
Management Directive 023-01 and Commandant Instruction M16475.lD, which
guide the Coast Guard in complying with the National Environmental
Policy Act of 1969 (NEPA) (42 U.S.C. 4321-4370f), and have concluded
this action is one of a category of actions that do not individually or
cumulatively have a significant effect on the human environment. This
rule is categorically excluded, under figure 2-1, paragraph (34)(g) of
the Instruction. Under figure 2-1, paragraph (34)(g), of the
Instruction, an ``Environmental Analysis Check List'' and a
``Categorical Exclusion Determination'' have been completed and are
available in the docket where indicated under Addresses.

List of Subjects in 33 CFR Part 165

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

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

PART 165--REGULATED NAVIGATION AREAS AND LIMITED ACCESS AREAS

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

    Authority:  33 U.S.C. 1231; 46 U.S.C. Chapter 701, 3306, 3703;
50 U.S.C. 191, 195; 33 CFR 1.05-1, 6.04-1, 6.04-6, 160.5; Pub. L.
107-295, 116 Stat. 2064; Department of Homeland Security Delegation
No. 0170.1.

0
2. Add Sec.  165.T17-0641 to read as follows:

Sec.  165.T17-0641  Safety Zone; Port Valdez, Alaska Marine Highway
System Ferry Terminal.

    (a) Location. The following area is a safety zone: The navigable
waters within a 200-yard radius of the Alaska Marine Highway System
Ferry Terminal in the Port of Valdez.
    (b) Effective period. The safety zone in this section will be
enforced from July 8, 2012, through August 1, 2012, when there is an
Alaska Marine Highway System Ferry within the safety zone and there is
a fishing opener that includes the navigable waters within the safety
zone during these dates.

    (c) Regulations. For the purpose of this section, the general
regulations contained in 33 CFR 165.23 apply to all but the following
vessels in the areas described in paragraph (a), (b), or (c):
    (1) Alaska Marine Highway System Ferries.
    (2) Vessels that obtain permission through the Duty Officer at
Marine Safety Unit Valdez, who can be contacted at<PHONE_NUMBER>.
    (3) Vessels that obtain permission from the Captain of the Port,
who may authorize and designate any Coast Guard commissioned, warrant,
or petty officer to act on his behalf in enforcing the safety zone.

    Dated: July 8, 2012.
B.J. Hawkins,
Commander, U.S. Coast Guard, Captain of the Port, Prince William Sound.
[FR Doc. 2012-18453 Filed 7-27-12; 8:45 am]
BILLING CODE 9110-04-P


PAPERWORK REDUCTION ACT SUBMISSION Please read the instructions before completing this form. For additional forms or assistance in completing this form, contact your agency's Paperwork Clearance Officer. Send two copies of this form, the collection instrument to be reviewed, the Supporting Statement and any additional documentation to: Office of Information and Regulatory Affairs, Office of Management and Budget, Docket Library, Room 10102, 725 17th Street NW Washington, DC 20503.

1. Agency/ Subagency originating request: Environmental Protection Agency / Office of Water / Office of Science and Technology 2. OMB control number b. x None a__ __ __ __  __ __ __ __ 2040 3. Type of information collection ( check one) a. X New collection b. G Revision of a currently approved collection c. G Extension of a currently approved collection d. G Reinstatement, without change, of a previously approved collection for which approval has expired e. G Reinstatement, with change, of a previously approved collection for which approval has expired f. G Existing collection in use without an OMB control number 4. Type of review requested ( check one) a. X Regular b. G Emergency  Approval requested by: / / c. G Delegated 5. Small entities Will this information collection have a significant economic impact on a substantial number of small entities? G Yes X No For b f, note item A2 of Supporting Statement Instructions 6. Requested expiration date a. X Three years from approval date b. G Other Specify: / /___

7. Title: Concentrated Aquatic Animal Production Effluent Guidelines ( Final Rule)

8. Agency form number( s) ( If applicable) 2087.02 9. Keywords: Concentrated Aquatic Animal Production, Aquaculture, Effluent Guidelines, Water Pollution 10. Abstract : This data collection request is required through an effluent guidelines regulation which controls the discharge of pollutants from concentrated aquatic animal production facilities ( CAAPs). The regulation establishes reporting and recordkeeping requirements related to the discharge of drugs, solids and pollutants resulting from a failure in the aquatic animal containment system. EPA is requiring CAAPs to develop and implement a Best Management Practices ( BMP) Plan which enables the facility to comply with the requirements of the rule. Associated with the BMPs are requirements to keep records on the amount of feed used to raise the aquatic animals and the number and weight of the animals produced to minimize excess feed which contributes solids to the discharge. Also facilities are expected to conduct routine inspections to ensure that it is being properly maintained and repaired as necessary and keep records of these activities. The regulation also requires reporting when an Investigative New Animal drug or an extra label drug is used at the facility. This reporting is to ensure that site specific controls can be established, when warranted, on drugs that have not undergone full FDA review and approval for the use being made of them. Also facilities are required to report any failure to the aquatic animal containment system resulting in the release of pollutants including solids, fish carcasses and live fish. The regulation affects commercial and non commercial facilities engaged in the production of aquatic animals for the purpose of sale or stocking. Facilities subject to these requirements produce aquatic animals in flow through systems, recirculating systems and net pens with a minimum of 100,000 pounds of aquatic animals produced annually.

11. Affected public ( Mark primary with " P" and all others that apply with " X") a. Individuals or households d. Farms b. P Business or other for profit e. X Federal Government c. X Not for profit institutions f. X State, Local or Tribal Government 12. Obligation to respond ( Mark primary with " P" and all others that apply with " X") a. G Voluntary b. G Required to obtain or retain benefits c. P Mandatory 13. Annual reporting and recordkeeping hour burden a. Number of respondents 242 b. Total annual responses 88 1. Percentage of these responses collected electronically 0 % c. Total hours requested 45,000 d. Current OMB inventory 0 e. Difference 45,000 f. Explanation of difference 1. Program Change 45,000 2. Adjustment 14. Annual reporting and recordkeeping cost burden ( in thousands of dollars)

a. Total annualized capital/ startup costs 0 b. Total annual costs ( O& M) 0 c. Total annualized cost requested 0 d. Current OMB inventory 0 e. Difference 0 f. Explanation of difference 1. Program change 0 2. Adjustment 15. Purpose of information collection ( Mark Primary With " P" and all others that apply with " X") a. __ Application for benefits e. __ Program planning or management b. __ Program evaluation f. __ Research c. __ General purpose statistics g. P Regulatory or compliance d. __ Audit 16. Frequency of recordkeeping or reporting ( check all that apply) a. X Recordkeeping b. Q Third party disclosure c. X Reporting 1. X On occasion 2. X Weekly 3. Q Monthly 4. Q Quarterly 5. Q Semi annually 6. Q Annually 7. Q Biannually 8. Q Other ( describe) 17. Statistical methods Does this information collection employ statistical methods?

Q Yes X No 18. Agency contact ( person who can best answer questions regarding the content of this submission) Name: Marta Jordan Phone: ( 202) 566 1049 OMB 83 I 10/ 95 19. Certification for Paperwork Reduction Act Submissions On behalf of this Federal agency, 1 certify that the collection of information encompassed by this request complies with' 5 CFR 1320.9.

NOTE: The text of 5 CFR 1320.9, and the related provisions of 5 CFR 1320.8( b)( 3), appear at the end of the instructions. The certification is to be made with reference to those regulatory provisions as set forth in the instructions.

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

( a) It is necessary for the proper performance of agency functions;

( b) It avoids unnecessary duplication;

( c) It reduces burden on small entities;

( d) It uses plain, coherent, and unambiguous terminology that is understandable to respondents;

( e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

( f) It indicates the retention periods for recordkeeping requirements;

( g) It informs respondents of the information called for under 5 CFR 1320.8( b)( 3): ( I) Why the information is being collected' ( ii) Use of information; ( iii) Burden estimate; ( iv) Nature of response ( voluntary, required for a benefit, or mandatory); ( v) Nature and extent of confidentiality; and ( vi) Need to display currently valid OMB control number;

( h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected ( see note in Item 19 of the instructions);

( I) It uses effective and efficient statistical survey methodology; and ( j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item below and explain the reason in Item 18 of the Supporting Statement.

Signature of Program Official Mary Smith, Director Engineering & Analysis Division Office of Science & Technology Date Signature of Senior Official or designee Oscar Morales, Director Collection Strategies Division Office of Environmental Information Date OMB 83 I 10/ 95


[Federal Register: September 26, 2007 (Volume 72, Number 186)]
[Notices]
[Page 54700-54702]
[DOCID:fr26se07-121]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-56481; File No. SR-FINRA-2007-010]

Self-Regulatory Organizations; Financial Industry Regulatory
Authority, Inc.; Notice of Filing of Proposed Rule Change To Amend an
Exemption to NASD Rule 1050 and NYSE Rule Interpretation 344/02 for
Certain Research Analysts Employed by a Member's Foreign Affiliate Who
Contribute to the Preparation of a Member's Research Report

September 20, 2007.
    Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on September 12, 2007, Financial Industry Regulatory Authority, Inc.
(``FINRA'') (f/k/a National Association of Securities Dealers, Inc.
(``NASD'')) filed with the Securities and Exchange Commission (``SEC''
or ``Commission'') the proposed rule change as described in Items I,
II, and III below, which Items have been prepared by FINRA. The
Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    FINRA is proposing to amend an exemption to NASD Rule 1050 and NYSE
Rule Interpretation 344/02 for certain research analysts employed by a
member's foreign affiliate who contribute to the preparation of a
member's research report.
    The text of the proposed rule change is available at FINRA, on
FINRA's Web site at http://www.finra.org., and in the Commission's

Public Reference Room.

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

    In its filing with the Commission, FINRA included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. FINRA has prepared summaries, set forth in sections A,
B, and C below, of the most significant aspects of such statements.\3\
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    \3\ The Commission has modified part of these statements.
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A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change

1. Purpose
Background
    NASD Rule 1050 and NYSE 344 (``Rules'') require an associated
person who functions as a research analyst to register as such with
FINRA and pass a qualification examination. In the context of this
requirement, the Rules define ``research analyst'' as ``an associated
person who is primarily responsible for the preparation of the
substance of a research report or whose name appears on a research
report.'' The term ``research report'' in the Rules have the meaning as
defined in NASD Rule 2711(a)(8) and NYSE Rule 472.10(2): A written or
electronic communication that includes an analysis of equity securities
of individual companies or industries, and that provides information
reasonably sufficient upon which to base an investment decision.
    Pursuant to the Rules, FINRA has implemented the Research Analyst
Qualification Examination (Series 86/87). The examination consists of
an analysis part (Series 86) and a regulatory part (Series 87). Prior
to taking either the Series 86 or 87, a candidate also must have passed
the General Securities Registered Representative Examination (Series
7), the Limited Registered Representative (Series 17), or the Canada
Module of Series 7 (Series 37 or 38). Persons who were functioning as
research analysts on the effective date of March 30, 2004, and
submitted a registration application to NASD by June 1, 2004, had until
April 4, 2005, to meet the registration requirements. The Rules
currently provide exemptions from the Series 86 examination for certain
applicants who have passed Levels I and II of the Chartered Financial
Analyst examination or have passed Levels I and II of the Chartered
Market Technician Examination and produce only ``technical research
reports'' as that term is defined in the Rules. The Rules further
exempt certain research analysts who are employed by a member's foreign
affiliate and contribute to the preparation of a member's research
report. The proposed rule change would modify this latter exemption.
Current Exemption
    In March 2004, FINRA and the New York Stock Exchange issued joint
guidance on the determination of whether a research report is
considered the product of a member or that of a third party, including
a foreign affiliate.\4\ The guidance explained that FINRA considers a
``research report'' to be attributable to the member if (1) the report
appears to be the product of the member or (2) a ``research analyst''
as defined by FINRA rules associated with a member is involved in
producing the research report. Where either of the two factors pertain,
the research report and any ``research analyst'' involved in its
production must meet all of the applicable requirements of NASD Rules
1050 and 2711 and NYSE Rules 344 and 472. Thus, for example, a
``globally-branded'' research report that is not clearly labeled to the
reader as being wholly the product of a foreign affiliate would be
deemed the member's research. Similarly, FINRA considers a research
report prepared by a ``mixed-team'' that includes at least one research
analyst associated with the member to be a member's report for the
purpose of application of NASD Rule 2711 and NYSE Rule 472.
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    \4\ See NASD Notice to Members 04-18 and New York Stock Exchange
Information Memo 04-10. The New York Stock Exchange memo applies to
its Rule 472. FINRA has incorporated both Rule 472 and the
applicable interpretive guidance.
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    Since the Rules require any ``research analyst'' who contributes to
the preparation of a member's research report or whose name appears on
such report to be registered, certain foreign analysts who contribute
to the production of a member's ``globally-branded'' research or
``mixed-team'' research report could be required to meet the
qualification requirements, but only if they are associated persons of
the member. FINRA affirmed this interpretation in announcing the

Research Analyst Qualification Examination in a March 2004 Notice to
Members 04-25.
    Subsequently, some members requested an exemption from the Rules
for certain research analysts associated with a member who reside in
certain foreign jurisdictions. FINRA was concerned that absent the safe
harbor for certain foreign analysts, members might have had a pragmatic
incentive, although not a defensible basis, for construing associated
person status on an unduly narrow basis. To alleviate these issues,
while maintaining--and in some cases, extending--the safeguards in
FINRA rules that ensure objective and quality research, FINRA proposed
an exemption from the research analyst qualification requirements for
certain research analysts employed by foreign entities in certain
jurisdictions approved by FINRA and the New York Stock Exchange, and
subject to certain conditions.
    The Commission approved the proposed exemption in May 2005.\5\
FINRA recognized as the basis for exemptive relief from the
registration and qualification requirements compliance with other
standards in foreign jurisdictions that reflect recognition of
principles that are consonant with FINRA qualification standards and
the research analyst conflict of interest rules. These principles
generally include a combination of (1) rules that govern research
analysts and firm conflicts of interest in the preparation and
distribution of research reports; (2) a requirement that research
analysts be registered or licensed by a regulatory authority; or (3) a
testing or experience requirement that demonstrates research analysts'
skills and/or knowledge of rules and regulations applicable to research
analysts and their firms in the preparation and distribution of
research reports. Foreign research analysts in jurisdictions that do
not have approved standards are still required to pass the Series 86
and 87 examinations if they are ``associated persons'' and participate
in the preparation of a member's research report. FINRA and the New
York Stock Exchange approved seven jurisdictions that met the
applicable standard: the United Kingdom, Thailand, China, Hong Kong,
Singapore, Malaysia and Japan.\6\
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    \5\ See Securities Exchange Act Release No. 51644 (May 2, 2005),
70 FR 24148 (May 6, 2005) (File No. SR-NYSE 2005-25 and SR-NASD-
2005-043).
    \6\ See NASD Notice to Members 05-24 and New York Stock Exchange
Information Memo 05-23.
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    The proposed rule change would create a superseding exemption from
the research analyst qualification requirements that would cover
research analysts residing anywhere outside of the United States. More
specifically, the requirements of NASD Rule 1050(a) and NYSE Rule
344.10 would not apply to an associated person who (1) is an employee
of a non-member foreign affiliate of a member (``foreign research
analyst''), (2) resides outside the United States and (3) contributes,
partially or entirely, to the preparation of globally-branded or
foreign affiliate research reports but does not contribute to the
preparation of a member's research, including a mixed-team report, that
is not globally-branded.\7\ Eligibility for the exemption would further
be conditioned on the member meeting certain supervisory, disclosure
and recordkeeping requirements.
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    \7\ When used in reference to NYSE Rule 344.10, the term
``member'' refers to both a natural person and ``member
organization.''
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Supervisory Review
    Members that publish or otherwise distribute globally-branded
research reports partially or entirely prepared by a foreign research
analyst would be required to subject such research to pre-use review
and approval by a registered principal or supervisory analyst in
accordance with NASD Rule 1022(a)(5) and NYSE Rule 344.11 and
interpretations thereto.\8\ In addition, the member would be required
to ensure that such research reports comply with NASD Rule 2711 and
NYSE Rule 472, as applicable.
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    \8\ See NASD Notice to Members 04-81 and 07-04.
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Disclosure
    In publishing or otherwise distributing globally-branded research
reports partially or entirely prepared by a foreign research analyst, a
member would be required to prominently disclose on the front page of
each such research report:
    (1) Each affiliate contributing to the research report;
    (2) The names of the foreign research analysts employed by each
contributing affiliate;
    (3) That such research analysts are not registered/qualified as
research analysts with FINRA; and
    (4) That such research analysts may not be associated persons of
the member and therefore may not be subject to the NASD Rule 2711 and
NYSE Rule 472 restrictions on communications with a subject company,
public appearances and trading securities held by a research analyst
account.
Recordkeeping
    Members would be required to establish and maintain records that
identify those individuals who have availed themselves of the
exemption, the basis for such exemption, and evidence of compliance
with the conditions of the exemption. Failure to establish and maintain
such records would create an inference of a violation of NASD Rule 1050
and NYSE Rule 344. Members also would be required to establish and
maintain records that evidence compliance with the applicable content,
disclosure, and supervision provisions of NASD Rule 2711 and NYSE Rule
472. Members must maintain these records in accordance with the
supervisory requirements of NYSE Rule 342 and NASD Rule 3010, and in
addition to such requirement, the failure to establish and maintain
such records would create an inference of a violation of the applicable
content, disclosure, and supervision provisions of NYSE Rule 472 and
NASD Rule 2711.
    The proposed rule change would have no impact on the obligation of
any person or broker-dealer, including a foreign broker-dealer, to
comply with the applicable provisions of the federal securities laws,
rules and regulations and self-regulatory organization rules. And the
fact that a foreign research analyst avails herself or himself of this
exemption would not be probative of whether that individual is an
``associated person'' for other purposes, including whether the foreign
research analyst is subject to the NASD Rule 2711 and NYSE Rule 472
restrictions on communications with a subject company, public
appearances and trading securities held by a research analyst account.
    FINRA views the proposed rule change as an iteration of the
existing exemption that will better encourage dissemination to
investors of globally-branded and foreign research where determination
of FINRA's jurisdiction can be doubtful. At the same time, FINRA
believes the proposal balances investor protection concerns by ensuring
that all research produced by foreign research analysts who avail
themselves of the exemption are subject to supervision, disclosure and
other beneficial safeguards, even where the foreign research analyst
may not be an associated person of the member and therefore not subject
to FINRA regulatory oversight.
    The proposed rule change would apply prospectively only and is not
intended to abate any enforcement

actions for failure to comply with the existing exemption.
    The filing includes a statement about when FINRA will announce the
effective date of the proposed rule change.
2. Statutory Basis
    FINRA believes that the proposed rule change is consistent with the
provisions of section 15A of the Act, including section 15A(b)(6) of
the Act,\9\ in that it is designed to prevent fraudulent and
manipulative acts and practices, promote just and equitable principles
of trade and, in general, to protect investors and the public interest.
The proposed rule change will promote dissemination of globally-branded
and foreign research to investors and ensure that such research has
investor protection safeguards that might not otherwise be required.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78o-3(b)(6).
---------------------------------------------------------------------------

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

    FINRA does not believe that the proposed rule change will result in
any burden on competition that is not necessary or appropriate in
furtherance of the purposes of the Act.

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

    Written comments were neither solicited nor received.

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

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

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml.
); or     Send an e-mail to<EMAIL_ADDRESS>Please include

File Number SR-FINRA-2007-010 on the subject line.

Paper Comments

     Send paper comments in triplicate to Nancy M. Morris,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-1090.
    All submissions should refer to File Number SR-FINRA-2007-010. This
file number should be included on the subject line if e-mail is used.
To help the Commission process and review your comments more
efficiently, please use only one method. The Commission will post all
comments on the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml
). Copies of the submission, all subsequent amendments,

all written statements with respect to the proposed rule change that
are filed with the Commission, and all written communications relating
to the proposed rule change between the Commission and any person,
other than those that may be withheld from the public in accordance
with the provisions of 5 U.S.C. 552, will be available for inspection
and copying in the Commission's Public Reference Room, 100 F Street,
NE., Washington, DC 20549, on official business days between the hours
of 10 a.m. and 3 p.m. Copies of such filing also will be available for
inspection and copying at the principal office of FINRA. All comments
received will be posted without change; the Commission does not edit
personal identifying information from submissions. You should submit
only information that you wish to make available publicly. All
submissions should refer to File Number SR-FINRA-2007-010 and should be
submitted on or before October 17, 2007.

    For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\10\
---------------------------------------------------------------------------

    \10\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E7-18954 Filed 9-25-07; 8:45 am]

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[Federal Register Volume 77, Number 57 (Friday, March 23, 2012)]
[Proposed Rules]
[Pages 16967-16968]
[FR Doc No: 2012-6965]

=======================================================================
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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. FAA-2012-0079; Directorate Identifier 2012-NE-06-AD]
RIN 2120-AA64

Airworthiness Directives; Pratt & Whitney Division Turbofan
Engines

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice of proposed rulemaking (NPRM).

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SUMMARY: We propose to adopt a new airworthiness directive (AD) for
Pratt & Whitney PW4052, PW4152, PW4056, PW4156A, PW4060, PW4060A,
PW4060C, PW4062, PW4062A, PW4158, PW4460, PW4462, PW4164, PW4164C,
PW4164C/B, PW4168, and PW4168A turbofan engines with certain high-
pressure turbine (HPT) stage 1 front hubs installed. This proposed AD
was prompted by Pratt & Whitney's updated low-cycle-fatigue analysis
that indicated certain HPT stage 1 front hubs could initiate a crack
prior to the published life limit. This proposed AD would require
removing the affected HPT stage 1 front hubs from service using a
drawdown plan. We are proposing this AD to prevent failure of the HPT
stage 1 front hub, which could lead to an uncontained engine failure
and damage to the airplane.

DATES: We must receive comments on this proposed AD by May 22, 2012.

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
Pratt & Whitney, 400 Main St., East Hartford, CT 06108; phone: 860-565-
7700; fax:<PHONE_NUMBER>. You may review copies of the referenced
service information at the FAA, Engine & Propeller Directorate, 12 New
England Executive Park, Burlington, MA. For information on the
availability of this material at the FAA, call<PHONE_NUMBER>.

Examining the AD Docket

    You may examine the AD docket on the Internet at http://www.regulations.gov; 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: James Gray, Aerospace Engineer, Engine
Certification Office, FAA, 12 New England Executive Park, Burlington,
MA; phone:<PHONE_NUMBER>; 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-2012-0079;
Directorate Identifier 2012-NE-06-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

    A PW2000 field event led Pratt & Whitney to re-evaluate the low-
cycle fatigue analysis of the PW2000 engine and similar engine models,
including the PW4000 engine. Pratt & Whitney's updated analysis
indicated that the original grain size requirement specified on the HPT
stage 1 front hub design drawing was too large, and may not be
sufficient to meet the published life limits. Although we have not
received any reports of cracks, parts with the larger grain size may
initiate a crack prior to the published life limits. This condition, if
not corrected, could result in failure of the HPT stage 1 front hub,
which could lead to an uncontained engine failure and damage to the
airplane.

Relevant Service Information

    We reviewed Pratt & Whitney Service Bulletin (SB) No. PW4ENG 72-
795, Revision 2, dated April 5, 2011, and SB No. PW4G-100-72-220,
Revision 4, dated September 30, 2011. The SBs list the serial numbers
of HPT stage 1 front hubs with part number (P/N) 51L901 that are NOT
affected by this AD. However, all serial numbers of HPT stage 1 front
hubs with P/N 51L201, P/N 51L201-001, P/N 51L601, and P/N 52L401 are
affected.

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 removing the affected HPT stage 1
front hubs from service using a drawdown plan.

Costs of Compliance

    We estimate that this proposed AD would affect 954 engines
installed on airplanes of U.S. registry. About 605 engines use a 20,000
cycles-since new (CSN) life limit for the HPT stage 1 front hub. For
these engines, we estimate the lost part life to have a value of about
$25,400 per engine. About 349 engines use a 15,000 CSN life limit. For
these engines, we estimate the lost life to have a value of about
$22,013 per engine. Based on these figures, we estimate the total cost
of the proposed AD to U.S. operators is $23,049,537.

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

    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]

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

Pratt & Whitney Division: Docket No. FAA-2012-0079; Directorate
Identifier 2012-NE-06-AD.

(a) Comments Due Date

    We must receive comments by May 22, 2012.

(b) Affected ADs

    None.

(c) Applicability

    This AD applies to the following Pratt & Whitney Division
turbofan engines:
    (1) PW4052, PW4152, and PW4056 turbofan engines, including
models with any dash number suffix, with the following high-pressure
turbine (HPT) stage 1 front hub part numbers (P/Ns) installed:
    (i) P/N 51L201, or P/N 51L201-001, or P/N 51L601, or P/N 52L401;
or
    (ii) P/N 51L901 with a serial number (S/N) not listed in Table 9
of the Accomplishment Instructions of Pratt & Whitney Service
Bulletin (SB) No. PW4ENG 72-795, Revision 2, dated April 5, 2011.
    (2) PW4156A, PW4060, PW4060A, PW4060C, PW4062, PW4062A, PW4158,
PW4460, and PW4462 turbofan engines, including models with any dash
number suffix, with the following HPT stage 1 front hub P/Ns
installed:
    (i) P/N 51L201, or P/N 51L201-001, or P/N 52L401; or
    (ii) P/N 51L901 with an S/N not listed in Table 9 of the
Accomplishment Instructions of Pratt & Whitney SB No. PW4ENG 72-795,
Revision 2, dated April 5, 2011.
    (3) PW4164, PW4164C, PW4164C/B, PW4168, and PW4168A turbofan
engines with an HPT stage 1 front hub P/N 51L901 installed with a S/
N not listed in Table 27A of the Accomplishment Instructions of
Pratt & Whitney SB No. PW4G-100-72-220, Revision 4, dated September
30, 2011.

(d) Unsafe Condition

    This AD was prompted by Pratt & Whitney's updated low-cycle-
fatigue analysis that indicated certain HPT stage 1 front hubs could
initiate a crack prior to the published life limit. This AD requires
removing the affected HPT stage 1 front hubs from service using a
drawdown plan. We are issuing this AD to prevent failure of the HPT
stage 1 front hub, which could lead to an uncontained engine failure
and damage to the airplane.

(e) Compliance

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

(f) Removal of HPT Stage 1 Front Hubs From Service

    (1) For HPT stage 1 front hubs listed in paragraph (c)(1)(i) and
(c)(1)(ii) of this AD, do the following:
    (i) If the HPT stage 1 front hub has accumulated 17,000 or fewer
cycles-since new (CSN) on the effective date of this AD, remove the
HPT stage 1 front hub from service before accumulating 18,000 CSN.
    (ii) If the HPT stage 1 front hub has accumulated more than
17,000 CSN on the effective date of this AD, remove the HPT stage 1
front hub from service before accumulating an additional 1,000
cycles-in-service (CIS), or at the next piece-part exposure after
the effective date of this AD, whichever occurs first.
    (2) For HPT stage 1 front hubs listed in paragraphs (c)(2)(i),
(c)(2)(ii), and (c)(3) of this AD, do the following:
    (i) If the HPT stage 1 front hub has accumulated 12,700 or fewer
CSN on the effective date of this AD, remove the HPT stage 1 front
hub from service before accumulating 13,700 CSN.
    (ii) If the HPT stage 1 front hub has accumulated more than
12,700 CSN on the effective date of this AD, remove the HPT stage 1
front hub from service before accumulating an additional 1,000 CIS,
or at the next piece-part exposure after the effective date of this
AD, whichever occurs first.

(g) Installation Prohibition

    After the effective date of this AD, do not install or reinstall
into any engine any HPT stage 1 front hubs listed in paragraph
(c)(1)(i) and (c)(1)(ii) of this AD that are at piece-part exposure
and exceed 18,000 CSN, or any HPT stage 1 front hubs listed in
(c)(2)(i), (c)(2)(ii), and (c)(3) of this AD that are at piece-part
exposure and exceed 13,700 CSN.

(h) Definition

    For the purpose of this AD, piece-part exposure means that the
part is completely disassembled and removed from the engine.

(i) Alternative Methods of Compliance (AMOCs)

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

(j) Related Information

    (1) For more information about this AD, contact James Gray,
Aerospace Engineer, Engine Certification Office, FAA, 12 New England
Executive Park, Burlington, MA; phone:<PHONE_NUMBER>; fax: 781-238-
7199; email<EMAIL_ADDRESS>    (2) For service information identified in this AD, contact Pratt
& Whitney, 400 Main St., East Hartford, CT 06108; phone: 860-565-
7700; fax:<PHONE_NUMBER>.
    (3) You may review copies of the referenced service information
at the FAA, Engine & Propeller Directorate, 12 New England Executive
Park, Burlington, MA. For information on the availability of this
material at the FAA, call<PHONE_NUMBER>.

    Issued in Burlington, Massachusetts, on March 14, 2012.
Peter A. White,
Manager, Engine & Propeller Directorate, Aircraft Certification
Service.
[FR Doc. 2012-6965 Filed 3-22-12; 8:45 am]
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