[Federal Register Volume 82, Number 5 (Monday, January 9, 2017)]
[Notices]
[Pages 2418-2425]
[FR Doc No: 2017-00100]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-79724; File No. SR-Phlx-2016-105]

Self-Regulatory Organizations; NASDAQ PHLX LLC; Notice of Filing
of Proposed Rule Change To Amend Rules 501, 507, 508, 510, and 511

January 3, 2017.
    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 December 21, 2016, NASDAQ PHLX LLC (``Phlx'' or the ``Exchange'')
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 the Exchange. 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

    The Exchange proposes to amend Rule 501 (Specialist Appointment),
Rule 507 (Application for Approval as an SQT, RSQT, or RSQTO and
Assignment in Options), Rule 508 (Transfer Application), Rule 510 (SQT
and RSQT Performance Evaluation), and Rule 511 (Specialist Allocation
and Performance Evaluation).\3\ The proposed amendments are described
further below.
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    \3\ References to rules are to Phlx rules unless otherwise
noted. The terms SQT, RSQT, RSQTO, and Specialist are discussed
below.
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    The text of the proposed rule change is available on the Exchange's
Web site at http://nasdaqphlx.cchwallstreet.com/, at the principal
office of the Exchange, and at the Commission's Public Reference Room.

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

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

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

1. Purpose
    The Exchange proposes to amend: (1) Rule 501 to delete a reference
to a back-up specialist; (2) Rule 507 to: Update the reference to
``Board'' to permit the Board to appoint a panel; update the
composition of the review committee; and update the reference to Rule
510; (3) Rule 508 to delete the reference to ``lease'' and the cross-
reference to Rule 511; (4) Rule 510 to re-entitle the rule ``Good
Standing for Specialist, SQT, and RSQT,'' \4\ and add relevant good
standing language, and appeal rights; and (5) Rule 511 to delete the
rule.
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    \4\ ``Specialist'' is an Exchange member who is registered as an
options specialist pursuant to Rule 1020(a). ``Remote Specialist''
is a specialist that does not have a physical presence on the floor
of the Exchange. Streaming quote trader (``SQT'') and remote
streaming quote trader (``RSQT'') are electronic traders on the
Exchange pursuant to Rule 1014(b)(ii)(A) and Rule 1014(b)(ii)(B),
respectively.
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    Rules 501, 507, 508, 510, and 511 are part of the 500 series of
rules in the Rules of the Exchange (the ``Series 500 Rules''), which
are entitled ``Allocation, SQT, RSQT, and Evaluation Rules (Rule 500-
599).'' \5\ Many Series 500 Rules were established more than three
decades ago with the advent of options trading on the Exchange,\6\ at
which time Exchange options trading was strictly on-floor open outcry
through specialists. Exchange options trading has, since that time,
developed into a robust hybrid system that is currently largely
electronic and off-floor \7\ but continues to have an on-floor
specialist \8\ and an open outcry trading floor. The Exchange is now
updating and modernizing the Series 500 Rules as discussed below.\9\
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    \5\ These Series 500 Rules apply to Exchange members that trade
options. The Exchange continues to have a hybrid options floor, but
no longer has an equities floor or a commodities floor.
    \6\ For example, Rules 501, 505, and 506, were adopted on a
pilot basis in 1982. See Securities Exchange Act Release No. 18975
(August 17, 1982), 47 FR 37019 (August 24, 1982) (approval order
regarding pilot in respect of Rules 501-506 and authorizing the Phlx
Allocation, Evaluation and Securities Committee, which no longer
exists). See also Securities Exchange Act Release No. 18975 (August
17, 1982), 47 FR 37019 (August 24, 1982) (SR-Phlx-81-1) (approval
order regarding Rules 100, 201, 203 and 214 in combination with
Rules 500 through 505). Rules 500, 501, 505, 506, 508, 511, 515,
520, 522, 523, 525, and 526 (of which Rules 500, 515, 516, 520, 522,
523, 525, and 526 no longer exist) were permanently approved in
1991. See Securities Exchange Act Release No. 29369 (June 26, 1991),
56 FR 30604 (July 3, 1991) (SR-Phlx-87-42) (order granting permanent
approval). Rule 507 was adopted in 2004. See Securities Exchange Act
Release No. 50100 (July 27, 2004), 69 FR 46612 (August 3, 2004) (SR-
Phlx-2003-59) (order granting approval). Rule 510 was adopted in
2007. See Securities Exchange Act Release No. 55080 (January 10,
2007), 72 FR 2324 (January 18, 2007) (SR-Phlx-2006-51) (order
granting approval). The Exchange has filed a separate proposal
regarding two of the rules in the Series 500 Rules, namely Rules 505
and 506. See Securities Exchange Act Release No. 77121 (February 11,
2016), 81 FR 8308 (February 18, 2016) (SR-Phlx-2016-22) (notice of
filing and immediate effectiveness to delete Rule 505 and update
Rule 506).
    \7\ Electronic traders include Registered Options Traders or
``ROTs,'' that are Streaming Quote Traders or ``SQTs'', Remote
Streaming Quote Traders or ``RSQTs,'' as well as off-floor
specialists (Remote Specialists) (collectively ``market makers'').
See Rules 1014(b)(ii)(A), 1014(b)(ii)(B), and 1020.
    \8\ Unlike specialists, Remote Specialists do not have a
physical presence on the floor of the Exchange. Rule 1020.
    \9\ While the vast majority of options-related rules are found
in Rule 1000 and higher (with option index rules found in Rule 1000A
and higher), some of the older options-related rules are, as
discussed, in the Series 500 Rules.
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Updating Rule 501
    The Exchange proposes in Rule 501 to delete the reference to a
back-up specialist.
    Currently, Rule 501 states that initial application(s) to become a
specialist unit shall include information regarding the specialist,
back-up specialist unit and a substitute specialist unit. With the
development of liquidity-enhancing electronic market makers on the
Exchange such as RSQTs, which make markets in the same options issues
as specialists, and the diminution of the

role that the specialist plays in managing the order book on the
Exchange, both a back-up specialist and substitute specialist are no
longer needed.\10\ Therefore, obsolete language in Rule 501 in respect
of back-up specialists, which includes Commentary .01 to Rule 501, is
proposed to be deleted from Rule 501. All of the other initial
application requirements of Rule 501, which include the following
information, remain unchanged: The identity of the individual who will
act as head specialist and as assistant specialist(s) in the unit; the
identity of the unit's staff positions and who will occupy those
positions; the identity of a substitute specialist unit not associated
with the specialist unit, which shall serve as a substitute specialist
unit in the event that the specialist unit is unable to perform the
duties of a specialist; the unit's clearing arrangements; and the
unit's capital structure, including any lines of credit.\11\
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    \10\ The function of a back-up specialist unit not associated
with the specialist unit, as in current Rule 501(b), is for one
specialist unit on the floor to provide staffing when needed to
another specialist unit on the floor. Because multiple specialist
units are no longer present on the floor, the back-up function is no
longer feasible. Moreover, as discussed below, the specialist unit
must clearly indicate its staffing to the Exchange, and the
substitute specialist requirement continues unchanged.
    \11\ Rule 501(a) and (b).
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Updating Rule 507
    The Exchange proposes in Rule 507 to update the reference to
``Board,'' update the composition of the review committee, and update
the reference to Rule 510.
    First, Rule 507(a) currently states that the Board has the ability
to perform functions such as deferring or limiting approval of SQTs or
RSQTs. The Exchange proposes to replace the role of the Board with
Exchange staff. The Exchange may therefore defer, for a period to be
determined in the Exchange's discretion, approval of qualifying
applications for SQT or RSQT status pending any action required to
address the issue of concern to the Exchange. The Exchange's Membership
department \12\ may not defer a determination of the approval of the
application of any SQT or RSQT applicant or place any limitation(s) on
access to the Exchange's electronic quoting and trading system on any
SQT or RSQT applicant unless the basis for such limitation(s) or
deferral have been objectively determined by the Exchange, subject to
Securities and Exchange Commission approval or effectiveness pursuant
to a rule change filing under Section 19(b) of the Securities Exchange
Act of 1934, as amended. The Exchange shall provide written
notification to any SQT or RSQT applicant whose application is the
subject of such limitation(s) or deferral, describing the objective
basis for such limitation(s) or deferral. The Exchange believes that
this change will help with the administration and application of Rule
507. Also, there is an appeal to the Board from any action of Exchange
staff within Rule 507(e).
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    \12\ Applications for SQTs and RSQTs would be reviewed by the
Membership department. Today, the Exchange's Membership Department
review applications for membership to Phlx for both equities and
options members.
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    Second, Rule 507(e) currently states that an appeal to the Board
from a decision of the Exchange regarding an SQT, RSQT, or RSQTO \13\
application may be requested by a member or member organization; and
that such appeal shall be heard by a special committee of the Board
composed of three (3) Directors, at least one of whom will be
Independent. In light of and commensurate with the first proposed Rule
507 change regarding the Board, the Exchange proposes to state that any
appeal from a decision pursuant to Rule 507 may be heard by the Board
or a panel appointed by the Board (``Board Panel'') composed of three
(3) members not materially involved in the Exchange decision appealed
from; \14\ and that, as now, there shall be no appeal to the Board from
a decision of the Board Panel. If a Board Panel is appointed by the
Board, three persons shall be selected to serve on the Board Panel and
in making such selections the Board shall choose individuals whose
background, experience and training qualify them to consider and make
determinations regarding the subject matter to be presented to the
Board Panel. The Exchange notes that references to ``special
committee'' will now refer to ``Board'' or ``Board Panel'' with this
proposal. The Board Panel shall consist of two members of the Exchange,
or general partners or officers of member organizations and one other
person that would qualify as a public member as defined in Article I of
the By-Laws, whom the Board considers to be qualified.
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    \13\ ``RSQTO'' is a Remote Streaming Quote Trader Organization
with up to five affiliated RSQTs. Rule 507(a).
    \14\ The language stating that one of the Board members shall be
an Independent is proposed to be deleted. The Exchange believes that
this is proper as the ``Independent'' label is now a distinction
with little, if any, effect. Whereas the vast majority of Phlx Board
members were not Independent when Rule 507 was put into place and
the Exchange was a membership corporation, and application of the
Independent label may have made sense under those circumstances, the
composition of the Phlx Board has radically changed since Phlx
became a subsidiary of a public company, Nasdaq, Inc., in 2008. The
By-Laws of the Exchange now provide that the Exchange may have
Public Directors, Non-Industry Directors, and Industry Directors;
and that Industry Directors may include no more than two officers of
the Exchange, selected at the sole discretion of the Board, which
may serve in the role of Staff Director (not Independent). Phlx By-
Laws Article I. See also Securities Exchange Act Release No. 77165
(February 17, 2016), 81 FR 9041 (February 23, 2016) (SR-BSECC-2015-
002; SR-SCCP-2015-02; SR-BX-2015-085; SR-NASDAQ-2015-160; SR-Phlx-
2015-113) (order granting approval). Now, all but one of the twelve
members on the Phlx Board are Independent (the only exception being
one Staff Board member who is an officer of the Exchange). Thus, in
light of the composition of the Phlx Board, which has one Staff
Board member, only one of the three Directors on the special
committee discussed in current Rule 507 could even possibly be not
Independent; and, by Phlx By-Laws no more than two Directors could
ever be not Independent. The Exchange believes that, distinct from
the Independent criteria, the ability of the Board to appoint a
panel as proposed will serve to enhance the ability to quickly
assemble a panel in case of potential appeal, if one occurs. The
Exchange notes that a special committee per Rule 507 has not been
instituted since, let alone before, Phlx became a subsidiary of
Nasdaq, Inc. The Exchange also notes that the compositional
requirements for the Boards that oversee the three options markets
under the umbrella of Nasdaq, Inc. (Phlx, The NASDAQ Options Market
LLC (``NOM''), and NASDAQ BX, Inc. (``BX Options'')) are similar.
While there is no requirement in this proposal for an Independent
panel member to be appointed to the Board Panel, the Exchange notes
that the public member has some independent aspect. See Phlx By-Laws
at Article I (hh), ``The term `public member' means a member of any
committee appointed by the Board of Directors who has no material
business relationship with a broker or dealer, the Exchange, or its
affiliates.''
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    Third, Rule 507(b) currently states that, when making a decision
concerning an application for assignment in an option, the Exchange
shall consider the applicant's prior performance as a specialist, SQT,
or RSQT based on evaluations conducted pursuant to Exchange Rule
510.\15\ The Exchange is, as discussed below, proposing to update Rule
510 so that in lieu of the current formulaic language in the rule,
there is new language that accentuates the good standing of members. In
light of this, the Exchange proposes to update the 507(b) reference to
state that the Exchange can consider the applicant's prior performance
as a specialist, SQT or RSQT based on ``good standing pursuant to Rule
510.'' The Exchange is not proposing any other change to Rule 507. The
Exchange notes that the other aspects of Rule 507, such as, for
example, RSQTO eligibility

criteria,\16\ SQT and RSQT eligibility criteria,\17\ and technological
ability for RSQTOs, SQTs, or RSQTs,\18\ remain in place.\19\
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    \15\ Other factors for consideration include: (A) The financial
and technical resources available to the applicant; and (B) the
applicant's experience and expertise in market making or options
trading. Rule 507(b).
    \16\ These RSQTO criteria include: (A) Significant market-making
and/or specialist experience in a broad array of securities; (B)
Superior resources, including capital, technology and personnel; (C)
Demonstrated history of stability, superior electronic capacity, and
superior operational capacity; (D) Proven ability to interact with
order flow in all types of markets; (E) Existence of order flow
commitments; (F) Willingness to accept allocations as an RSQT in
options overlying 400 or more securities; and (G) Willingness and
ability to make competitive markets on the Exchange and otherwise to
promote the Exchange in a manner that is likely to enhance the
ability of the Exchange to compete successfully for order flow in
the options it trades. Rule 507(a)(i).
    \17\ These SQT and RSQT criteria include: (A) Significant
market-making and/or specialist experience in a broad array of
securities; (B) Superior resources, including capital, technology
and personnel; (C) Demonstrated history of stability, superior
electronic capacity, and superior operational capacity; (D) Proven
ability to interact with order flow in all types of markets; (E)
Willingness and ability to make competitive markets on the Exchange
and otherwise to promote the Exchange in a manner that is likely to
enhance the ability of the Exchange to compete successfully for
order flow in the options it trades; (F) A current affiliation with
an Exchange-approved RSQTO (RSQT applicants only). Rule 507(a)(ii).
    \18\ No application for initial assignment in an option shall be
approved without verification that (A) the RSQTO, SQT or RSQT
applicant has sufficient technological ability to support his/her
continuous quoting requirements as set forth in Rule 1014(b)(ii),
and (B) the RSQTO, SQT or RSQT applicant has successfully completed,
or is scheduled to complete, testing of its quoting system with the
Exchange. Rule 507(b)(ii).
    \19\ Specialist (and Remote Specialist) eligibility and
qualification requirements are discussed in Rules 501, 506, 1014,
and 1020.
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Updating Rule 508
    The Exchange proposes in Rule 508 to delete the reference to
``lease'' and to Rule 511.
    First, Rule 508 currently refers to ``lease.'' Leasing is no longer
practiced on the Exchange, and for this reason the Exchange is
proposing to delete this obsolete term from Rule 508. This is similar
to a recent proposal wherein the Exchange noted that leasing is an
obsolete term that should be deleted.\20\
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    \20\ See Securities Exchange Act Release No. 77121 (February 11,
2016), 81 FR 8308 (February 18, 2016) (SR-Phlx-2016-22) (notice of
filing and immediate effectiveness to delete Rule 505 and update
Rule 506).
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    Second, Rule 508 currently refers to Rule 511, regarding
specialists. The Exchange proposes to delete the Rule 508 reference to
Rule 511. This is because, as discussed below, Rule 511 is proposed to
be deleted as the language of Rule 510 is proposed to be modified to
include specialists.\21\
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    \21\ Rule 508 will continue to indicate, without reference to
Rule 511, that failure to provide the Exchange prior notice of a
transfer in accordance with Rule 508, or failure to obtain Exchange
approval of a transfer, permits the Exchange to recover the
allocated securities and reallocate them pursuant to Rule 506.
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Updating Rule 510
    The Exchange proposes to entitle Rule 510 ``Good Standing for
Specialist, SQT, and RSQT'' and to add relevant good standing language.
    First, Rule 510 currently applies only to SQTs and RSQTs. The
Exchange proposes to change the language of Rule 510 to indicate that
this rule will also be applicable to specialists. Thus, the Exchange
proposes to entitle Rule 510 as ``Good Standing for Specialist, SQT,
and RSQT.'' The good standing requirement, which is discussed below, is
a continuous requirement rather than a periodic evaluation requirement
as in current Rules 510 and 511.\22\ The requirements to remain in good
standing are discussed in the new language in Rule 510(a). These
obligations will be continuous and not periodic. The Exchange will
provide written notice to a specialist (including Remote Specialist),
SQT, or RSQT of a contemplated action regarding good standing pursuant
to Rule 510, as noted below. A specialist (including Remote
Specialist), SQT, or RSQT may request and the Exchange may hold an
informal meeting to discuss the alleged failure to remain in good
standing and to explore possible appropriate remedies. Written notice
of the date and time of the meeting will be given to the specialist
(including Remote Specialist), SQT, or RSQT and no verbatim record will
be kept. If the Exchange believes there are no mitigating circumstances
that would demonstrate substantial improvement of or reasonable
justification for the failure to meet the good standing requirements of
this Rule 510, the Exchange may take appropriate action pursuant to
subsection (b) of this Rule 510. This process is described in further
detail below. Exchange staff will evaluate good standing which entails
continuous compliance with, among other things, Exchange options rules
and procedures as well as market making requirements (market making
requirements are found in Rule 1014).
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    \22\ Proposed Rule 510, which applies to specialists (including
Remote Specialists), SQTs, and RSQTs, discusses that good standing
on the Exchange means continuous compliance with, among other
things, Exchange options rules and procedures as well as market
making requirements (market making requirements are found in Rule
1014). In light of the proposed continuous and extensive good
standing requirements per Rule 510 as well as other rule
requirements, the old evaluations applicable to SQTs, RSQTs, and
specialists are not needed.
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    Second, Rule 510 currently is written in terms of doing performance
evaluations for SQTs and RSQTs. Currently, Rule 507 has a very detailed
process for applying for and approving SQTs and RSQTs, and for
assigning options to SQTs and RSQTs. In addition, today Rule 501
defines the application and approval process for specialists.\23\ To
more closely align the Exchange with another options exchange, namely
BX Options, the Exchange is adopting language similar to BX Options
Rule at Chapter VII, Section 4 (the ``BX Options rule'').\24\ Similar
to Phlx, BX Options has market makers (``BX Options Market Makers'',
which are also known as lead market makers (``LMMs'')). All BX Options
Market Makers are designated as specialists on BX for all purposes
under the Act or rules thereunder.\25\ The Exchange is adopting the BX
Options rule and proposing, in lieu of the current formulaic language
in Rule 510, to insert new language indicating how a member of the
Exchange can remain in good standing on the Exchange. The Exchange
believes that this new proposal will obligate market participants that
conduct market making activities with continuous requirements to remain
in good standing as compared to periodic requirements. The continuous
requirements will serve to accentuate the good standing of members who
have remained in compliance. The Exchange believes that it is important
for market structure for these participants to have continuous

requirements to remain in good standing rather than only periodic
evaluations.
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    \23\ Rules 506, 508, and 513 discuss other aspects of the
process.
    \24\ See Securities Exchange Act Release No. 67256 (June 26,
2012), 77 FR 39277 (July 2, 2012) (order approving establishment of
BX Options and marketplace rules) (SR-BX-2012-030).
    \25\ See BX Options Chapter VII, Section 2.
    For obligations of BX Options Market Makers, see BX Options
Chapter VII, Section 5, entitled ``Obligations of Market Makers.''
This section indicates that BX Options Markets Maker obligations
include, but are not limited to: Maintain a course of dealings
reasonably calculated to contribute to the maintenance of a fair and
orderly market in transactions where acting in a market making
capacity; not make bids or offers or enter into transactions that
are inconsistent with such course of dealings; maintain a two-sided
market, during trading hours, in those options in which the Market
Maker is registered to trade, in a manner that enhances the depth,
liquidity and competitiveness of the market; compete with other
Market Makers in all options in which the Market Maker is registered
to trade; update quotations in response to changed market conditions
in all options in which the Market Maker is registered to trade; and
maintain active markets in all options in which the Market Maker is
registered.
    The BX Options Market Maker obligations are similar in nature to
those of Phlx specialists, which can be found in Phlx Rule 1014,
entitled ``Obligations and Restrictions Applicable to Specialists
and Registered Options Traders,'' and include: Maintain a fair and
orderly market; not enter into transactions or make bids or offers
that are inconsistent with such a course of dealings; quote a two-
sided market; and maintain a two-sided market.
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    The proposed new language is similar, in all material respects,\26\
to BX Options rule at Chapter VII, Section 4. Specifically, the
Exchange proposes to adopt new language in Rule 510(a) to state that to
remain in good standing as a specialist (including Remote Specialist),
SQT, or RSQT, the specialist, SQT, or RSQT must:
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    \26\ As with virtually all rules text copied from another
exchange, changes are made to the proposed rule text to better fit
the structure of the existing rules of the Exchange.
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    (i) Continue to meet the requirements established in SEC Rule 15c3-
1(a)(6)(i),\27\ and the requirements set forth in the Series 500 Rules
in the Rules of the Exchange;
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    \27\ SEC Rule 15c-3, 240 CFR 15c3-1, is the net capital
requirement for brokers or dealers.
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    (ii) continue to satisfy the specialist, SQT or RSQT qualification
and market making requirements specified by the Exchange, as amended
from time to time;
    (iii) comply with the Rules of the Exchange and the Options Rules
\28\ as well as the rules of The Options Clearing Corporation (``OCC'')
and the rules of the Federal Reserve Board [sic] ``FRB''); and
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    \28\ As discussed, while the vast majority of options-related
rules are found in Rule 1000 and higher (with option index rules in
Rule 1000A and higher), some of the older options-related rules are
found in rules below 1000, such as, for example, the Series 500
Rules.
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    (iv) pay on a timely basis such member, transaction and other fees
as the Exchange shall prescribe.\29\
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    \29\ Member assessments are generally reflected in the Phlx
Pricing Schedule.
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    These proposed requirements to remain in good standing on the
Exchange are not periodic, as are the evaluation and performance
concepts in current Rules 510 and 511, but rather are continuous in
nature.
    Third, the Exchange notes that with the proposed new good standing
requirements, specialist and other market maker (e.g., RSQT)
obligations, such as market making, will continue to apply.\30\ For
specialists (and RSQTs functioning as Remote Specialists) the Rule 1014
market making obligations are applicable throughout the trading day.
Thus, a specialist (or Remote Specialist) shall continue to be
responsible to quote two-sided markets in the lesser of 99% of the
series or 100% of the series minus one call-put pair in each option in
which such specialist is assigned. To satisfy this requirement with
respect to quoting a series, the specialist must quote such series 90%
of the trading day (as a percentage of the total number of minutes in
such trading day) or such higher percentage as the Exchange may
announce in advance. These obligations will apply collectively to all
appointed issues of the specialist, rather than on an issue-by-issue
basis. Compliance with this obligation will be determined on a monthly
basis. However, determining compliance with the continuous quoting
requirement on a monthly basis does not relieve the specialist
(including the Remote Specialist) of the obligation to provide
continuous two-sided quotes on a daily basis, nor will it prohibit the
Exchange from taking disciplinary action against the specialist
(including the Remote Specialist) for failing to meet the continuous
quoting obligation each trading day.\31\
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    \30\ Other obligations include, for example: Order exposure,
order handling, and best execution.
    \31\ See Rule 1014(b)(ii)(D)(2).
     For the market making obligations of SQTs and RSQTs (including
Directed SQT or DRSQTs [sic], and Directed RSQTs or DRSQTs), which
remain unchanged, see Rule 1014(b)(ii)(D)(1). This rule states that,
like for specialists, compliance for SQTs and RSQTs will be
determined on a monthly basis. However, determining compliance with
the continuous quoting requirement on a monthly basis does not
relieve an SQT, RSQT, DSQT, or DRSQT of the obligation to provide
continuous two-sided quotes on a daily basis, nor will it prohibit
the Exchange from taking disciplinary action against an SQT, RSQT,
DSQT, or DRSQT for failing to meet the continuous quoting obligation
each trading day. Rule 1014(b)(ii)(D)(1).
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    Fourth, the proposed new language in Rule 510(b) states that the
good standing of a specialist (including Remote Specialist), SQT, or
RSQT may be suspended, terminated or otherwise withdrawn, as provided
in the Exchange's rules, if any of these conditions for approval cease
to be maintained or the specialist, SQT, or RSQT violates any of its
agreements with the Exchange or any of the provisions of the Rules of
the Exchange or of the Options Rules. The Exchange is proposing to add
an Informal Meeting process and appeal rights, which do not exist in
Rule 510 for specialists at this time.
    The Informal Meeting process proposed in Rule 510 is based on the
Informal Meeting process in current Rules 510 (for SQTs and RSQTs) and
511 (for specialists), which is in respect of performance evaluations.
The Informal Meeting process proposed in Rule 510 is, however, in
respect of good standing. Specifically, the Exchange proposes to amend
Rule 510 to adopt the following language in Rule 510(b)(i): The
Exchange will provide written notice to a specialist (including Remote
Specialist), SQT, or RSQT of a contemplated action regarding good
standing pursuant to this Rule 510. A specialist (including Remote
Specialist), SQT, or RSQT may request and the Exchange may hold an
informal meeting to discuss the alleged failure to remain in good
standing and to explore possible appropriate remedies. Written notice
of the date and time of the meeting will be given to the specialist
(including Remote Specialist), SQT, or RSQT and no verbatim record will
be kept. If the Exchange believes there are no mitigating circumstances
that would demonstrate substantial improvement of or reasonable
justification for the failure to meet the good standing requirements of
this Rule 510, the Exchange may take appropriate action pursuant to
subsection (b) of this Rule 510. Nothing in this Informal Meeting
process limits the Exchange from enforcing the rules of the Exchange,
which may include a disciplinary action pursuant to such rules. The
Regulatory staff may, for example, initiate a disciplinary action
pursuant to Rule 960.3 against a member for failure to meet continuous
quoting obligations in Rule 1014.\32\ The proposed appeal rights in
Rule 510(c) are taken from current Rule 511, but expanded to cover
specialists (including Remote Specialists), SQTs, and RSQTs.\33\
Specifically, the Exchange proposes to amend Rule 510 to adopt the
following language in Rule 510(c): An appeal by a specialist (including
Remote Specialist), SQT, or RSQT to the Board of Directors from a
decision of the Exchange may be requested by a member or member
organization interested therein by filing with the Secretary of the
Exchange written notice of appeal within ten (10) days after the
decision has been rendered. Any appeal from a decision pursuant to Rule
510 may be heard by the Board or a Board Panel composed of three (3)
members not materially involved in the Exchange decision appealed
from.\34\ If a Board

Panel is appointed by the Board, three persons shall be selected to
serve on the Board Panel and in making such selections the Board shall,
to the extent practicable, choose individuals whose background,
experience and training qualify them to consider and make
determinations regarding the subject matter to be presented to the
Board Panel. The Board Panel shall consist of two members of the
Exchange, or general partners or officers of member organizations and
one other person who would qualify as a public member as defined in
Article I of the By-Laws, whom the Board considers to be qualified. The
person requesting review shall be permitted to submit a written
statement to and/or appear before the Board or Board Panel. The
Secretary of the Exchange shall certify the record of the proceeding,
if any, and the written decision, and shall submit these documents to
the Board or Board Panel. The Board's or Board Panel's review of the
action shall be based solely on the record, the written decision and
any statement submitted by the person requesting the review. The Board
or Board Panel shall prepare and deliver to such person a written
decision and reasons therefore. If the Board or Board Panel affirms the
action, the action shall become effective ten (10) days from the date
of the Board Panel's decision. There shall be no appeal to the Board
from any decision of the Board Panel.\35\
---------------------------------------------------------------------------

    \32\ Specifically, the Exchange may pursue disciplinary process
against a member that commits an egregious market making violation
evidenced by a pattern of repeated failure to make a two-sided
market in assigned options.
    \33\ The SQT and RSQT appeal rights to the Board currently in
Rule 510 are limited to apply only in respect of performance
evaluations. The Exchange believes that the appeal rights afforded
SQTs and RSQTs in proposed Rule 510, which will be to the Board or a
Board Panel, are appropriate in that they are expanded to cover any
decision of the Exchange regarding Rule 510; and, an informal
meeting process is also afforded prior to appeal. The Board or a
Board Panel would serve as a secondary appeal to a group of
individuals that were not involved in the primary decision making.
The Exchange is seeking to afford its members due process when
seeking an appeal.
    \34\ Rule 511(f) now states, in relevant part, that any appeal
from a decision pursuant to Rule 511 regarding evaluation or review
shall be heard by a special committee of the Board of Directors
composed of three (3) Directors, of whom at least one (1) shall be
an Independent. The Exchange believes that, as discussed, the old
independence requirement is no longer needed when Rule 510 is
restructured. Commensurate with other proposed changes discussed
herein, Rule 510 appeals can be heard by the Board or a Board Panel.
    \35\ The appeal process in proposed Rule 507(e) is amended to
reflect an appeal to the Board or a Board Panel.
---------------------------------------------------------------------------

    The memorialization of appeal rights in proposed Rule 510(c) is
done to ensure that if the good standing of a specialist, SQT, or RSQT
is suspended, terminated or otherwise withdrawn then they have a clear
way to initiate and prosecute an appeal regarding such decision. The
proposed due process methodology is similar to other rules of the
Exchange. By proposing new language in Rule 510(a) and (b) regarding
specialists, SQTs, and RSQTs regarding good standing, which is similar
to that of BX Options, the continuous good standing rules of the
Exchange and BX Options will be more aligned and easier to apply.
Proposed Rule 510 describes an Informal Meeting process and appeal
rights applicable to specialists (including Remote Specialists), SQTs,
and RSQTs. The Exchange is replacing the current periodic evaluation or
performance requirements in Rule 510 (e.g., monthly for SQTs and
RSQTs), as also in Rule 511 (e.g., annually for specialists) as
discussed, with the proposed Rule 510 continuous requirements for
specialists (including Remote Specialists), SQTs, and RSQTs to meet
Exchange, Commission, OCC and FRB rules and requirements to remain in
good standing. Compliance with good standing requirements is monitored
across the Exchange.\36\
---------------------------------------------------------------------------

    \36\ Thus, in Rule 510 the Exchange is proposing an Informal
Meeting process and appeal rights applicable to specialists
(including Remote Specialists), SQTs, and RSQTs. And, the Exchange
is replacing the current periodic evaluation or performance
requirements in Rule 510 (e.g., monthly for SQTs and RSQTs), as also
in Rule 511 (e.g., annually for specialists) as discussed, with the
proposed Rule 510 continuous requirements for specialists (including
Remote Specialists), SQTs, and RSQTs to meet Exchange, Commission,
OCC and FRB rules and requirements to remain in good standing.
Compliance with good standing requirements is monitored across the
Exchange. Thus, for example, units that monitor the application,
allocation, and fees requirements and processes include membership,
listing, and finance groups. And the surveillance group will
continue to use its current processes to monitor compliance with
Exchange rules and where appropriate will pursue disciplinary action
against members for rule violations(s) (e.g., failure to make two-
sided market(s) per Phlx Rule 1014). Moreover, while proposed Rule
510 is being changed the market making and other obligations for
specialists, SQTs, and RSQTs continue as discussed.
---------------------------------------------------------------------------

Deleting Rule 511
    The Exchange has concluded that, with the placement of the good
standing concepts into proposed Rule 510 in such a way that they
include specialist (and Remote Specialist), Rule 511 is no longer
needed. In Rule 510, as discussed, in lieu of the current language, the
Exchange is proposing to adopt new language indicating how a member of
the Exchange can remain in good standing.
    The proposed new language in Rule 510 is, in all material respects,
similar to the BX Options rule at Chapter VII, Section 4. Because of
this proposed new language in Rule 510, which addresses specialists (as
also Remote Specialists, RSQTs, and SQTs), the Exchange proposes to
delete Rule 511 in its entirety. The Exchange believes that, within the
effort to update and consolidate the Series 500 Rules as discussed, it
is reasonable and proper to delete Rule 511. This rule was established
decades ago for the purpose of dealing with the extensive on-floor open
outcry specialist system, with multiple competing specialist units.
Since the implementation of Rule 511, the open outcry options floor has
evolved into a robust and competitive principally electronic system,
and the remaining hybrid options floor does not have numerous competing
specialists as was the case when Rule 511 was instituted.
    The Exchange believes that under the circumstances, and because
specialists are proposed to be covered in Rule 510 in terms of good
standing, and continue to be covered in the Series 500 Rules and other
rules of the Exchange,\37\ deletion of Rule 511 is proper.
---------------------------------------------------------------------------

    \37\ See, e.g., Rule 501 (Specialist Appointment); Rule 506
(Allocation Application, Allocation, Reallocation, and Transfer);
Rule 508 (Transfer Application); and Rule 513 (Voluntary Resignation
of Options Privileges). See also, e.g., Rule 1022 (Securities
Accounts and Orders of Specialists and Registered Options Traders;
and Rule 1020 (Registration and Functions of Options Specialists),
which discusses on-floor options specialists and electronic Remote
Specialists.
---------------------------------------------------------------------------

    As discussed, the Exchange is deleting the performance evaluation
structure of Rule 511 and is proposing to relocate the concept within
Rule 510 with the proposed good standing requirement and appeal rights
applicable to specialists, SQTs, and RSQTs. The Exchange believes that
the proposed good standing approach, which is applicable to
specialists, SQTs, and RSQTs, enhances the current rule because unlike
the periodic nature of the performance evaluation structure the
proposed good standing approach would have continuous requirements that
must be maintained in order to remain in good standing on the Exchange
(e.g., compliance with the equity and options rules of the Exchange,
OCC, and FRB).
    As discussed, options trading on the Exchange has developed into a
robust hybrid system that is currently largely electronic and off-
floor. The Exchange continues to have an open outcry trading floor,
however, rather than a proliferation of competitive specialists on the
options floor as was the case when Rule 511 was instituted: There is
currently one specialist unit on the options floor and therefore Rule
511 is not needed. In the past, when so many specialists conducted
business on the options floor, Rule 511 served a purpose. Today, Rule
511, with its specialist evaluation process and allocation process
constructed for multiple competitive specialists on the floor, is no
longer needed with one specialist unit on the floor.\38\ As such, in
light of the current realities of the options floor Rule 511 is
obsolete, particularly in light of numerous rules

in the Phlx rulebook that apply to specialists.
---------------------------------------------------------------------------

    \38\ The Exchange believes that even if additional floor
specialists begin to conduct business on the options floor, Rule 511
was designed for a very different competitive floor environment and
is not needed, particularly in light of proposed Rule 510 and the
numerous other Exchange rules applicable to options specialists.
---------------------------------------------------------------------------

    The many rules that continue to apply to specialists discuss topics
such as application, approval, allocation, re-allocation, market
making, and obligations of specialists. For example, Rule 501 as
proposed discusses the specialist allocation process and specialist
approval process. To be an approved specialist unit and retain the
privilege of such status, for example, a specialist unit must maintain
the approved clearing arrangements and capital structure stated on
their application and changes regarding certain requirements must be
submitted and approved by the Exchange. In addition, each unit must
consist of at least one head specialist and one assistant specialist
that must be associated with the specialist unit; the Exchange, in its
discretion, may require a unit to obtain additional staff depending
upon the number of assigned options classes and associated order flow.
Rule 506 discusses allocation application, reallocation of a previously
allocated options, and transfer of allocated options.\39\ Rule 506 also
discusses that, in addition to a minimum allocation period of one year,
the Exchange may establish an ``alternate specialist period'' period of
less than one year to act as a specialist in an options class. Rule 508
as proposed discusses the Exchange approval process if there is
agreement between or among specialist units to transfer one or more
options classes already allocated to a specified specialist unit. Rule
513, which is not proposed to be amended with this filing, discusses
the process if an option specialist unit voluntarily resigns from
allocation in a particular option and there is a future allocation
regarding such option.\40\ In addition, Rule 1014 discusses the
obligations and restrictions applicable to specialists and registered
options traders during each trading day; these obligations and
restrictions include, as discussed above, very specific market making
requirements. Finally, Rule 1022 discusses securities accounts and
orders of specialists and registered options traders and proper
identification of accounts, reporting of options, and orders of
underlyings.\41\
---------------------------------------------------------------------------

    \39\ See Securities Exchange Act Release No. 77121 (February 11,
2016), 81 FR 8308 (February 18, 2016) (SR-Phlx-2016-22) (notice of
filing and immediate effectiveness to delete Rule 505 and update
Rule 506).
    \40\ One rule in the Series 500 Rules does not specifically deal
with specialists. This is Rule 507, which was discussed above. This
rule deals with the application and approval process for SQTs,
RSQTs, or RSQTOs, and the assignment of options.
    \41\ The Exchange has previously discussed that the allocation
and evaluation process in Rule 511 proposed to be deleted made sense
when the rule was established with multiple competitive specialists
on the floor, but is no longer needed in light of the current
composition of the floor.
---------------------------------------------------------------------------

    The Exchange believes that the changes to the noted rules in the
Series 500 Rules will make remaining Rules 501, 507, 508, and 510
easier to apply, clearer and better.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\42\ in general, and furthers the objectives of Section
6(b)(5) of the Act,\43\ in particular, in that it is designed to
promote just and equitable principles of trade, to remove impediments
to, and perfect the mechanism of a free and open market and, in
general, to protect investors and the public interest by proposing to
make changes to five rules in the Series 500 Rules as discussed. The
proposed rule change is designed to promote just and equitable
principles of trade by updating and modernizing the Series 500 Rules
and making them clearer and easier to use while continuing to protect
investors and the public interest.
---------------------------------------------------------------------------

    \42\ 15 U.S.C. 78f(b).
    \43\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    In particular, the Exchange is proposing to change Rule 501 to
delete reference to a back-up specialist. With the development of
liquidity-enhancing electronic market makers on the Exchange such as
RSQTs, which make markets in the same options issues as specialists,
and the diminution of the role that the specialist plays in managing
the order book on the Exchange, both a back-up specialist and
substitute specialist are no longer needed. The Exchange believes that
this proposal amendment is consistent with the Act because the advent
of streaming quote traders on the Exchange served to perfect the
mechanism of a free and open market because of the liquidity that such
participants brought to Phlx. These participants are obligated to
continuously quote in the market and have filled a role which was
previously reliant on a back-up specialist and a substitute specialist.
    Obsolete language in Rule 501 in respect of back-up specialists,
which includes Commentary .01 to Rule 501, is proposed to be deleted
from Rule 501. Similarly, the Exchange is proposing to change Rule 508
to delete the cross reference to Rule 511 and references to ``lease.''
As discussed, with the change in Rule 510 to the good standing standard
that applies to specialists as well as SQTs and RSQTs, Rule 511 is
proposed to be deleted and therefore the reference is no longer needed.
Moreover, leasing is no longer permitted on the Exchange, and for this
reason the Exchange is proposing to delete this obsolete term from Rule
508. The Exchange believes it is consistent with the Act to delete
obsolete references which serve to confuse members within the Rulebook.
    The Exchange is proposing to amend Rule 507(a) to permit the
Exchange, instead of the Board to defer approval of qualifying
applications for SQT or RSQT status pending any action required to
address the issue of concern to the Exchange. The applicant would have
a right of appeal to the Board or a Board Panel of any action of
Exchange staff pursuant to Rule 507(e). The Exchange believes that the
application process should be handled by staff initially with appellate
rights to the Board or a Board Panel. Currently Rule 507 states that
the Board has the ability to perform functions such as deferring or
limiting approval of SQTs or RSQTs. The Exchange believes that this
amendment is consistent with the Act because it will change [sic] will
promote just and equitable principles of trade by serving the
administration and application of Rule 507 and permitting a right of
appeal as provided in Rule 507(e).
    With respect to Rule 507(e), the Exchange proposes to expand the
appeal to either the Board or a Board Panel. Currently, Rule 507(e)
states that an appeal shall be heard by a special committee of the
Directors composed of three Directors, of whom at least one (1) shall
be an Independent. The Exchange proposes to state that the appeal may
be heard by a panel appointed by the Board composed of three (3)
members not materially involved in the Exchange decision appealed from.
If a panel is appointed by the Board, three persons shall be selected
to serve on the panel and in making such selections the Board shall, to
the extent practicable, choose individuals whose background, experience
and training qualify them to consider and make determinations regarding
the subject matter to be presented to the panel. The panel shall
consist of two members of the Exchange, or general partners or officers
of member organizations and one other person who would qualify as a
public member as defined in Article I of the By-Laws, whom the Board
considers to be qualified. The Exchange believes that this amendment is
consistent with the Act because the Board or a Board Panel

would allow a path of impartial appeal for the applicant.
    Also, currently Rule 507(b) states that when making a decision
concerning an application for assignment in an option the Exchange
shall consider the applicant's prior performance as a specialist, SQT
or RSQT based on evaluations conducted pursuant to Exchange Rule 510.
The Exchange proposes to update Rule 510 so that in lieu of the current
formulaic language in the rule, there is new language that accentuates
the good standing of members. In light of this, the Exchange proposes
to update the 507(b) reference to state that the Exchange can consider
the applicant's prior performance as a specialist, SQT or RSQT based on
``good standing pursuant to Rule 510.'' The Exchange believes that this
amendment is consistent with the Act because it will consider a more
holistic approach in evaluating members that engage in market making
activities. The Exchange believes that this approach is broader and
will take new factors into account which would serve to promote just
and equitable principles of trade in evaluating market participants
that engage in market making activities by considering their
obligations and past performance.
    The Exchange is proposing to update Rule 510 to give it a new
title, ``Good Standing for Specialist, SQT, and RSQT,'' to add relevant
good standing language, and appeal rights. The Exchange proposes to
amend the language of Rule 510 to indicate that, with the deletion of
Rule 511, Rule 510 will also be applicable to specialists. The Exchange
proposes to change the language of Rule 510 to more closely align the
Exchange with BX Options by adopting language from the BX Options rule
at Chapter VII, Section 4. BX Options Market Makers are held to good
standing standards per the BX Options rule. Specialists on Phlx are
another type of market maker. The Exchange believes that these
amendments are consistent with the Act because these changes serve to
add clarity and transparency to the rule text.
    The Exchange is adopting language from BX Options at Chapter VII,
Section 4. Specifically, the Exchange proposes new language in Rule
510(a) to state that to remain in good standing on the Exchange as a
specialist (including Remote Specialist), SQT, or RSQT, the specialist,
SQT, or RSQT must meet specific requirements set forth in the rule.\44\
As discussed, the proposed new good standing language in Rule 510 will
be, in all material respects, similar to BX Options rules at Chapter
VII, Section 4. This makes particular sense because all BX Options
Market Makers are designated as specialists on BX for all purposes
under the Act or rules thereunder and, like Phlx specialists, have
market making obligations.\45\ The Exchange believes that the good
standing rule text is consistent with the Act because as described
above the Exchange believes that this approach is broader and will take
new factors into account which would serve to promote just and
equitable principles of trade in evaluating market participants that
engage in market making activities by considering their obligations and
past performance.
---------------------------------------------------------------------------

    \44\ The specific good standing requirements are: (i) Continue
to meet the requirements established in SEC Rule 15c3-1(a)(6)(i),
and the requirements set forth in the Series 500 Rules in the Rules
of the Exchange; (ii) continue to satisfy the specialist, SQT or
RSQT qualification requirements specified by the Exchange, as
amended from time to time; (iii) comply with the Rules of the
Exchange and the Options Rules as well as the rules of the Options
Clearing Corporation and the rules of the Federal Reserve Board; and
(iv) pay on a timely basis such member, transaction and other fees
as the Exchange shall prescribe. Proposed Rule 510(a).
    \45\ See, e.g., supra note 24 [sic] and accompanying discussion.
---------------------------------------------------------------------------

    The Exchange is proposing to add an Informal Meeting process and
appeal rights, which do not exist in Rule 510 for specialists; as
discussed, the appeal rights now in Rule 510 are regarding SQTs and
RSQTs only in respect of performance evaluations. These proposed appeal
rights for a specialist (including Remote Specialist), SQT, or RSQT,
which are set forth in Rule 510(c) for, are adopted from Rule 511. The
memorialization in Rule 510 of Informal Meeting process and appeal
rights is done to affirm that if the good standing of a specialist,
SQT, or RSQT is suspended, terminated or otherwise withdrawn then they
have a clear way to meet with the Exchange to discuss the issue and
initiate and prosecute an appeal regarding such decision. The
Exchange's proposal to expand the role of the Board to permit an appeal
to be heard by a Board Panel appointed by the Board composed of three
(3) members not materially involved in the Exchange decision appealed
from is consistent with the Act because the Board or a Board Panel
would allow a path of impartial appeal for the applicant.\46\
---------------------------------------------------------------------------

    \46\ If a Board Panel is appointed by the Board, three persons
shall be selected to serve on the Board Panel and in making such
selections the Board shall, to the extent practicable, choose
individuals whose background, experience and training qualify them
to consider and make determinations regarding the subject matter to
be presented to the Board Panel. The Board panel shall consist of
two members of the Exchange, or general partners or officers of
member organizations and one other person that would qualify as a
public member as defined in Article I of the By-Laws, whom the Board
considers to be qualified.
---------------------------------------------------------------------------

    The Exchange has concluded that, with the placement of the good
standing concepts into proposed Rule 510 in such a way that they
include a specialist (and Remote Specialist), Rule 511 is no longer
needed and is therefore proposed to be deleted in its entirety (with
transfer of specialist appeal rights from Rule 511 to Rule 510).
    The Exchange is proposing to delete Rule 511. This rule was
established decades ago for the purpose of dealing with the extensive
on-floor open outcry specialist system, with multiple competing
specialist units. Since the implementation of Rule 511, the open outcry
options floor has evolved into a robust and competitive system that is
principally electronic, and the remaining hybrid options floor does not
have numerous competing specialists as was the case when Rule 511 was
instituted. The Exchange believes that because of the extensive changes
on the option floor (from having numerous competitive specialist units
on the old options floor to having a specialist unit on the current
options floor), and because specialists are proposed to be covered in
Rule 510 in terms of good standing and continue to be covered in the
Series 500 Rules and other rules of the Exchange, it is consistent with
the Act and promotes just and equitable principles of trade to delete
Rule 511.
    Furthermore, numerous rules in the Phlx Rulebook continue to apply
to specialists (as well as to other registered options traders). For
example, Rule 501 as proposed discusses the specialist allocation
process and specialist approval process. Rule 506 discusses allocation
application, reallocation of previously allocated options, and transfer
of allocated options. Rule 508 as proposed discusses the Exchange
approval process if there is agreement between or among specialist
units to transfer one or more options classes already allocated to a
specified specialist unit. Rule 513, which is not proposed to be
amended with this filing, discusses the process if an option specialist
unit voluntarily resigns from allocation in a particular option and
there is a future allocation regarding that option. Rule 1014 discusses
the obligations and restrictions, including specific market making
requirements, that are applicable to specialists each trading day.
Finally, Rule 1022 discusses proper identification of accounts,
reporting of options, and orders of underlyings in respect of
securities accounts and orders of specialists and ROTs.

    The Exchange believes that the changes to the noted rules in the
Series 500 Rules will make remaining Rules 501, 507, 508, and 510
easier to apply, clearer and more transparent. Such proposed changes
are in consistent with the Act, the public interest, and continue to
serve to protect investors.

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

    The Exchange 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, as amended.
While the Exchange does not believe that the proposed change is a
burden on competition, or is competitive in nature, the Exchange
believes that clearer, updated, modernized, and better-conforming rules
that do not refer to obsolete concepts are always beneficial to market
participants, are in the public interest, and serve to protect
investors.

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

    No written comments were either solicited or 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 (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 Exchange consents, the Commission shall: (a) By order approve
or disapprove such proposed rule change, or (b) institute proceedings
to determine whether the proposed rule change should be disapproved.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-Phlx-2016-105 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-Phlx-2016-105. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549 on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of such filing also will be available
for inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-Phlx-2016-105, and should be
submitted on or before January 30, 2017.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\47\
---------------------------------------------------------------------------

    \47\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-00100 Filed 1-6-17; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 80, Number 186 (Friday, September 25, 2015)]
[Notices]
[Pages 57901-57902]
[FR Doc No: 2015-24547]

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SECURITIES AND EXCHANGE COMMISSION

Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the
Government in the Sunshine Act, Public Law 94-409, that the Securities
and Exchange Commission will hold a conference commemorating the 75th
Anniversary of the Investment Company Act and the Investment Advisers
Act on Tuesday, September 29, 2015 from 9:15 a.m. to 4:15 p.m., in the
Auditorium, Room L-002.
    The event will include remarks from SEC Chair Mary Jo White and
fellow commissioners, as well as a series of panel discussions
featuring industry pioneers, former SEC chairmen and division
directors, academics and other distinguished leaders to discuss
significant ideas and themes in the history of the asset management
industry.
    The conference will be held at SEC headquarters at 100 F Street NE.
in Washington, DC. The roundtable will be webcast on the Commission's
Web site at www.sec.gov and will be archived for later viewing. Seating
for the public will be available.
    For further information, please contact: The Office of the
Secretary at<PHONE_NUMBER>.

    Dated: September 22, 2015.
Brent J. Fields,
Secretary.
[FR Doc. 2015-24547 Filed 9-23-15; 4:15 pm]
 BILLING CODE 8011-01-P


[Federal Register: March 24, 2010 (Volume 75, Number 56)]
[Rules and Regulations]
[Page 14091-14094]
[DOCID:fr24mr10-11]

=======================================================================
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DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

44 CFR Part 67

[Docket ID FEMA-2010-0003]

Final Flood Elevation Determinations

AGENCY: Federal Emergency Management Agency, DHS.

ACTION: Final rule.

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

SUMMARY: Base (1% annual-chance) Flood Elevations (BFEs) and modified
BFEs are made final for the communities listed below. The BFEs and
modified BFEs are the basis for the floodplain management measures that
each community is required either to adopt or to show evidence of being
already in effect in order to qualify or remain qualified for
participation in the National Flood Insurance Program (NFIP).

DATES: The date of issuance of the Flood Insurance Rate Map (FIRM)
showing BFEs and modified BFEs for each community. This date may be
obtained by contacting the office where the maps are available for
inspection as indicated in the table below.

ADDRESSES: The final BFEs for each community are available for
inspection at the office of the Chief Executive Officer of each
community. The respective addresses are listed in the table below.

FOR FURTHER INFORMATION CONTACT: Kevin C. Long, Acting Chief,
Engineering Management Branch, Mitigation Directorate, Federal
Emergency Management Agency, 500 C Street, SW., Washington, DC 20472,
(202) 646-2820, or (e-mail<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: The Federal Emergency Management Agency
(FEMA) makes the final determinations listed below for the modified
BFEs for each community listed. These modified elevations have been
published in newspapers of local circulation and ninety (90) days have
elapsed since that publication. The Deputy Federal Insurance and
Mitigation Administrator has resolved any appeals resulting from this
notification.
    This final rule is issued in accordance with section 110 of the
Flood Disaster Protection Act of 1973, 42 U.S.C. 4104, and 44 CFR part
67. FEMA has developed criteria for floodplain management in floodprone
areas in accordance with 44 CFR part 60.
    Interested lessees and owners of real property are encouraged to
review the proof Flood Insurance Study and FIRM available at the
address cited below for each community. The BFEs and modified BFEs are
made final in the communities listed below. Elevations at selected
locations in each community are shown.
    National Environmental Policy Act. This final rule is categorically
excluded from the requirements of 44 CFR part 10, Environmental
Consideration. An environmental impact assessment has not been
prepared.
    Regulatory Flexibility Act. As flood elevation determinations are
not within the scope of the Regulatory Flexibility Act, 5 U.S.C. 601-
612, a regulatory flexibility analysis is not required.
    Regulatory Classification. This final rule is not a significant
regulatory action under the criteria of section 3(f) of Executive Order
12866 of September 30, 1993, Regulatory Planning and Review, 58 FR
51735.
    Executive Order 13132, Federalism. This final rule involves no
policies that have federalism implications under Executive Order 13132.
    Executive Order 12988, Civil Justice Reform. This final rule meets
the applicable standards of Executive Order 12988.

List of Subjects in 44 CFR Part 67

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

0
Accordingly, 44 CFR part 67 is amended as follows:

PART 67--[AMENDED]

0
1. The authority citation for part 67 continues to read as follows:

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

Sec.  67.11  [Amended]

0
2. The tables published under the authority of Sec.  67.11 are amended
as follows:

----------------------------------------------------------------------------------------------------------------
                                                                      * Elevation in
                                                                      feet (NGVD) +
                                                                    Elevation in feet
                                                                    (NAVD)
           Flooding source(s)              Location of referenced     Depth in feet       Communities affected
                                                 elevation             above ground
                                                                    [caret] Elevation
                                                                     in meters (MSL)
                                                                         Modified
----------------------------------------------------------------------------------------------------------------
                                         Village of Dansville, New York
                                             Docket No.: FEMA-B-1034
----------------------------------------------------------------------------------------------------------------
Canaseraga Creek.......................  In the northern                        * 607  Village of Dansville.
                                          annexation, west of
                                          State Route 63, east of
                                          the railroad, and
                                          approximately 2,800 feet
                                          north of Zerfass Road.
                                         In the northern                        * 610
                                          annexation, just east of
                                          the railroad,
                                          approximately 1,500 feet
                                          north of Zerfass Road
                                          along the railroad.
----------------------------------------------------------------------------------------------------------------
* National Geodetic Vertical Datum.
+ North American Vertical Datum.
 Depth in feet above ground.
[caret] Mean Sea Level, rounded to the nearest 0.1 meter.
                                                    ADDRESSES
Village of Dansville
Maps are available for inspection at 14 Clara Barton Street, Dansville, NY 14437.
----------------------------------------------------------------------------------------------------------------
                                            Town of Sparta, New York
                                             Docket No.: FEMA-B-1025
----------------------------------------------------------------------------------------------------------------
Canaseraga Creek.......................  Just upstream of State                 * 576  Town of Sparta.
                                          Route 258/Flats Road.
                                         Approximately 1.2 mile                 * 614
                                          upstream of White Bridge
                                          Road.
----------------------------------------------------------------------------------------------------------------
* National Geodetic Vertical Datum.
+ North American Vertical Datum.
 Depth in feet above ground.
[caret] Mean Sea Level, rounded to the nearest 0.1 meter.
                                                    ADDRESSES
Town of Sparta
Maps are available for inspection at 8302 Kysorville-Byersville Road, Dansville, NY 14437.
----------------------------------------------------------------------------------------------------------------
                                  Lee County, Illinois, and Incorporated Areas
                                             Docket No.: FEMA-B-1041
----------------------------------------------------------------------------------------------------------------
Kyte River.............................  Approximately 1,080 feet               + 770  Unincorporated Areas of
                                          west of Thorpe Road.                          Lee County.
                                         Approximately 125 feet                 + 771
                                          west of Illinois Route
                                          251.
----------------------------------------------------------------------------------------------------------------
* National Geodetic Vertical Datum.
+ North American Vertical Datum.
 Depth in feet above ground.
[caret] Mean Sea Level, rounded to the nearest 0.1 meter.
                                                    ADDRESSES
                                       Unincorporated Areas of Lee County
Maps are available for inspection at the County Zoning Office, Old Lee County Courthouse, 3rd Floor, 112 East
 2nd Street, Dixon, IL 61021.
----------------------------------------------------------------------------------------------------------------
                              Rock Island County, Illinois, and Incorporated Areas
                                             Docket No.: FEMA-B-1032
----------------------------------------------------------------------------------------------------------------
Mississippi River......................  River Mile 449.4,                      + 555  Unincorporated Areas of
                                          approximately 0.65 mile                       Rock Island County, City
                                          upstream of the Mercer/                       of East Moline, City of
                                          Rock Island county                            Moline, City of Rock
                                          boundary and 1.7 mile                         Island, Village of
                                          downstream of the                             Andalusia, Village of
                                          confluence with Copperas                      Cordova, Village of
                                          Creek.                                        Hampton, Village of
                                                                                Milan, Village of Port
                                                                                Byron, Village of Rapids
                                                                                City.
                                         The Whitside/Rock Island               + 588
                                          county boundary (River
                                          Mile 512.25),
                                          approximately 0.6 mile
                                          upstream of the
                                          confluence with
                                          Meredosia Ditch.
Sylvan Slough..........................  The convergence with the               + 565  City of Moline, City of
                                          Mississippi River (River                      Rock Island.
                                          Mile 482.7),
                                          approximately 0.3 mile
                                          downstream of Lock and
                                          Dam No. 15.

                                         The divergence from the                + 569
                                          Mississippi River (River
                                          Mile 486.0), Cross
                                          Section I, approximately
                                          0.17 mile upstream of
                                          Memorial Bridge (I-74).
----------------------------------------------------------------------------------------------------------------
* National Geodetic Vertical Datum.
+ North American Vertical Datum.
 Depth in feet above ground.
[caret] Mean Sea Level, rounded to the nearest 0.1 meter.
                                                    ADDRESSES
City of East Moline
Maps are available for inspection at City Hall, 915 16th Avenue, East Moline, IL 61244.

City of Moline
Maps are available for inspection at City Hall, 619 16th Street, Moline, IL 61265.

City of Rock Island
Maps are available for inspection at City Hall, 1528 3rd Street, Rock Island, IL 61201.

                                   Unincorporated Areas of Rock Island County
Maps are available for inspection at the County Courthouse, 1504 3rd Avenue, Rock Island, IL 61201.

Village of Andalusia
Maps are available for inspection at the Village Hall, 221 1st Street, Andalusia, IL 61232.

Village of Cordova
Maps are available for inspection at 906 Main Avenue, Cordova, IL 61242.

Village of Hampton
Maps are available for inspection at 520 1st Avenue, Hampton, IL 61256.

Village of Milan
Maps are available for inspection at the Village Hall, 405 East 1st Street, Milan, IL 61264.

Village of Port Byron
Maps are available for inspection at 120 South Main Street, Port Byron, IL 61275.

Village of Rapids City
Maps are available for inspection at 1204 4th Avenue, Rapids City, IL 61278.
----------------------------------------------------------------------------------------------------------------
                                    Linn County, Iowa, and Incorporated Areas
                                             Docket No.: FEMA-B-1035
----------------------------------------------------------------------------------------------------------------
Big Creek..............................  South Ely Street.........              + 713  City of Bertram.
                                         Big Creek Road...........              + 719
Cedar Lake.............................  Entire shoreline.........              + 727  City of Cedar Rapids.
Cedar River............................  1,300 feet downstream of               + 711  City of Cedar Rapids.
                                          the confluence with
                                          Indian Creek.
                                         Just downstream of                     + 730
                                          Edgewood Road.
McClouds Run...........................  1,373 feet downstream of               + 728  City of Cedar Rapids.
                                          Shaver Road Northwest.
                                         1,056 feet upstream of                 + 728
                                          Shaver Road Northeast.
----------------------------------------------------------------------------------------------------------------
* National Geodetic Vertical Datum.
+ North American Vertical Datum.
 Depth in feet above ground.
[caret] Mean Sea Level, rounded to the nearest 0.1 meter.
                                                    ADDRESSES
City of Bertram
Maps are available for inspection at 930 1st Street Southwest, Cedar Rapids, IA 52404.

City of Cedar Rapids
Maps are available for inspection at 1201 6th Street Southwest, Cedar Rapids, IA 52404.
----------------------------------------------------------------------------------------------------------------

                                Audrain County, Missouri, and Incorporated Areas
                                             Docket No.: FEMA-B-1031
----------------------------------------------------------------------------------------------------------------
Davis Creek............................  Just downstream of County              + 735  Unincorporated Areas of
                                          Highway 15/Paris Road.                        Audrain County.
                                         At Kentucky Road.........              + 739
South Fork Salt River..................  At County Highway J......              + 735  Unincorporated Areas of
                                                                                Audrain County.
----------------------------------------------------------------------------------------------------------------
* National Geodetic Vertical Datum.
+ North American Vertical Datum.
 Depth in feet above ground.
[caret] Mean Sea Level, rounded to the nearest 0.1 meter.

                                                    ADDRESSES
                                     Unincorporated Areas of Audrain County
Maps are available for inspection at the County Courthouse, 101 North Jefferson Street, Mexico, MO 65265.
----------------------------------------------------------------------------------------------------------------
                                Saunders County, Nebraska and Incorporated Areas
                                             Docket No.: FEMA-B-1038
----------------------------------------------------------------------------------------------------------------
Cottonwood Creek.......................  Approximately 2,000 feet              + 1313  Unincorporated Areas of
                                          upstream of County Road                       Saunders County, Village
                                          Q.                                            of Prague.
                                         Just upstream of Railroad             + 1332
                                          Avenue.
                                         Just upstream of State                + 1335
                                          Highway 79.
Platte River (with levee)..............  Just upstream of U.S.                 + 1064  Unincorporated Areas of
                                          Highway 6.                                    Saunders County, Village
                                                                                of Leshara, Village of
                                                                                Morse Bluff.
                                         Just upstream of State                + 1159
                                          Highway 64.
                                         At State Highway 79......             + 1277
Platte River (without levee)...........  Just upstream of U.S.                 + 1064  Unincorporated Areas of
                                          Highway 6.                                    Saunders County, Village
                                                                                of Leshara, Village of
                                                                                Morse Bluff.
                                         Just upstream of State                + 1154
                                          Highway 64.
                                         At State Highway 79......             + 1277
----------------------------------------------------------------------------------------------------------------
* National Geodetic Vertical Datum.
+ North American Vertical Datum.
 Depth in feet above ground.
[caret] Mean Sea Level, rounded to the nearest 0.1 meter.
                                                    ADDRESSES
                                     Unincorporated Areas of Saunders County
Maps are available for inspection at the County Courthouse, 433 North Chestnut Street, Wahoo, NE 68066.

Village of Leshara
Maps are available for inspection at the Village Hall, 210 Summit Street, Leshara, NE 68064.

Village of Morse Bluff
Maps are available for inspection at the Village Hall, 440 2nd Street, Morse Bluff, NE 68648.

Village of Prague
Maps are available for inspection at the Village Hall, 401 West Center Avenue, Prague, NE 68050.
----------------------------------------------------------------------------------------------------------------

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

    Dated: March 11, 2010.
Sandra K. Knight,
Deputy Federal Insurance and Mitigation Administrator, Mitigation,
Department of Homeland Security, Federal Emergency Management Agency.
[FR Doc. 2010-6421 Filed 3-23-10; 8:45 am]
BILLING CODE 9110-12-P


[Federal Register Volume 87, Number 30 (Monday, February 14, 2022)]
[Notices]
[Pages 8262-8264]
[FR Doc No: 2022-03097]

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

DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2022-N-0083]

Food and Drug Administration Hiring and Retention Final
Assessment; Public Meeting; Request for Comments

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice of public meeting; request for comments.

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

SUMMARY: The Food and Drug Administration (FDA, the Agency, or we) is
holding a virtual meeting entitled ``FDA Hiring and Retention Final
Assessment'' and an opportunity for public comment. The topic to be
discussed is the FDA Hiring and Retention Final Assessment, which was
an independent assessment performed by Booz Allen Hamilton, published
on December 10, 2021. This public meeting will take place virtually due
to extenuating circumstances and will be held by webcast only.

DATES: The public meeting will be held on March 15, 2022, from 9 a.m.
to 12 noon Eastern Time. Submit either electronic or written comments
on this public meeting by May 16, 2022. See the

SUPPLEMENTARY INFORMATION section for registration date and
information.

ADDRESSES: You may submit comments as follows. Please note that late,
untimely filed comments will not be considered. Electronic comments
must be submitted on or by May 16, 2022. The https://www.regulations.gov electronic filing system will accept comments until
11:59 p.m. Eastern Time at the end of May 16, 2022. Comments received
by mail/hand delivery/courier (for written/paper submissions) will be
considered timely if they are postmarked or the delivery service
acceptance receipt is on or before that date.

Electronic Submissions

    Submit electronic comments in the following way:
     Federal eRulemaking Portal: https://www.regulations.gov.
Follow the instructions for submitting comments. Comments submitted
electronically, including attachments, to https://www.regulations.gov
will be posted to the docket unchanged. Because your comment will be
made public, you are solely responsible for ensuring that your comment
does not include any confidential information that you or a third party
may not wish to be posted, such as medical information, your or anyone
else's Social Security number, or confidential business information,
such as a manufacturing process. Please note that if you include your
name, contact information, or other information that identifies you in
the body of your comments, that information will be posted on https://www.regulations.gov.
     If you want to submit a comment with confidential
information that you do not wish to be made available to the public,
submit the comment as a written/paper submission and in the manner
detailed (see ``Written/Paper Submissions'' and ``Instructions'').

Written/Paper Submissions

    Submit written/paper submissions as follows:
     Mail/Hand delivery/Courier (for written/paper
submissions): Dockets Management Staff (HFA-305), Food and Drug
Administration, 5630 Fishers Lane, Rm. 1061, Rockville, MD 20852.
     For written/paper comments submitted to the Dockets
Management Staff, FDA will post your comment, as well as any
attachments, except for information submitted, marked and identified,
as confidential, if submitted as detailed in ``Instructions.''
    Instructions: All submissions received must include the Docket No.
FDA-2022-N-0083 for ``FDA Hiring and Retention Final Assessment; Public
Meeting; Request for Comments.'' Received comments, those filed in a
timely manner (see ADDRESSES), will be placed in the docket and, except
for those submitted as ``Confidential Submissions,'' publicly viewable
at https://www.regulations.gov or at the Dockets Management Staff
between 9 a.m. and 4 p.m., Monday through Friday,<PHONE_NUMBER>.
     Confidential Submissions--To submit a comment with
confidential information that you do not wish to be made publicly
available, submit your comments only as a written/paper submission. You
should submit two copies total. One copy will include the information
you claim to be confidential with a heading or cover note that states
``THIS DOCUMENT CONTAINS CONFIDENTIAL INFORMATION.'' The Agency will
review this copy, including the claimed confidential information, in
its consideration of comments. The second copy, which will have the
claimed confidential information redacted/blacked out, will be
available for public viewing and posted on https://www.regulations.gov.
Submit both copies to the Dockets Management Staff. If you do not wish
your name and contact information to be made publicly available, you
can provide this information on the cover sheet and not in the body of
your comments and you must identify this information as
``confidential.'' Any information marked as ``confidential'' will not
be disclosed except in accordance with 21 CFR 10.20 and other
applicable disclosure law. For more information about FDA's posting of
comments to public dockets, see 80 FR 56469, September 18, 2015, or
access the information at: https://www.govinfo.gov/content/pkg/FR-2015-09-18/pdf/2015-23389.pdf.
    Docket: For access to the docket to read background documents or
the electronic and written/paper comments received, go to https://www.regulations.gov and insert the docket number, found in brackets in
the heading of this document, into the ``Search'' box and follow the
prompts and/or go to the Dockets Management Staff, 5630 Fishers Lane,
Rm. 1061, Rockville, MD 20852,<PHONE_NUMBER>.

FOR FURTHER INFORMATION CONTACT: Patricia Stewart, Office of
Operations, Food and Drug Administration, 10903 New Hampshire Ave.,
Silver Spring, MD 20993,<PHONE_NUMBER>, [email protected].

SUPPLEMENTARY INFORMATION:

I. Background

    FDA is holding a public meeting to share high-level findings from a
recently completed final assessment of FDA's hiring and retention
processes, conducted by a qualified, independent contractor with
expertise in assessing transformation of Human Resource operations. We
recognize that the critical work to protect public health is made
possible in part by the Agency's ability to attract and retain a
talented, diverse, and dedicated workforce. As FDA continues to fulfill
its strategic mission, it is imperative that we identify and leverage
the talent, skills, and diversity within--and outside of--the Agency.
    These priorities are reflected in FDA's plan to enhance its hiring
and retention programs; recruit qualified candidates with diverse
backgrounds, experiences, and talents; provide internal development
opportunities; and further enhance the Agency's ability to nurture a
supportive and fair work environment. The public meeting will provide
an update on FDA's progress toward the Prescription Drug User Fee Act
(PDUFA VI) and the Biosimilar User Fee Amendments Act of 2017 (BsUFA
II) hiring and retention commitments and solicit input on actions
regarding the hiring process. To view the evaluation assessment report,
please visit https://www.fda.gov/media/154873/download.
    This public meeting is intended to meet performance commitments
included in PDUFA VI and BsUFA II. These user fee programs were
reauthorized, for fiscal years 2018--2022, as part of the FDA
Reauthorization Act of 2017 (Pub. L. 115-52) signed by the President on
August 18, 2017. The complete set of performance goals for each program
is available at:
     PDUFA VI program: https://www.fda.gov/downloads/ForIndustry/UserFees/PrescriptionDrugUserFee/UCM511438.pdf.
     BsUFA II program: https://www.fda.gov/downloads/forindustry/userfees/biosimilaruserfeeactbsufa/ucm521121.pdf.

II. Topics for Discussion at the Public Meeting

    This public meeting will provide FDA the opportunity to update
interested public stakeholders on topics related to the FDA hiring and
retention programs. Booz Allen Hamilton will present their findings and
recommendations that are outlined in the Hiring and Retention Final
Assessment Report and we will provide an update on the Agency's
progress in addressing the findings from the independent third-party
evaluation that was published December 10, 2021. To view the evaluation
assessment

report, please visit https://www.fda.gov/media/154873/download.

III. Participating in the Public Meeting

    Registration: To register for the public meeting, please visit the
following website: https://pdufa-hr-assessment.eventbrite.com. Please
provide complete contact information for each attendee, including name,
title, affiliation, address, email, and telephone.
    Registration is free and based on space availability, with priority
given to early registrants. Persons interested in attending this public
meeting must register by March 14, 2022, 11:59 p.m. Eastern Time. We
will let registrants know if registration closes before the day of the
public meeting.
    If you need special accommodations due to a disability, please
contact Patricia Stewart (see FOR FURTHER INFORMATION CONTACT) no later
than March 8, 2022.
    Requests for Oral Presentations: During online registration, you
may indicate if you wish to present during a public comment session,
and which topic(s) you wish to address. We will do our best to
accommodate requests to make public comments. Individuals and
organizations with common interests are urged to consolidate or
coordinate their presentations and request time for a joint
presentation. Following the close of registration, we will determine
the amount of time allotted to each presenter and the approximate time
each oral presentation is to begin, and will select and notify
participants by March 11, 2022. All requests to make oral presentations
must be received by March 8, 2022, 11:59 p.m. Eastern Time. If selected
for presentation, any presentation materials must be emailed to
Patricia Stewart (see FOR FURTHER INFORMATION CONTACT) no later than
March 11, 2022. No commercial or promotional material will be permitted
to be presented at the public meeting.
    Streaming Webcast of the public meeting: The webcast for this
public meeting is accessible at https://pdufa-hr-assessment.eventbrite.com.
    If you have never attended a Connect Pro event before, test your
connection at https://collaboration.fda.gov/common/help/en/support/meeting_test.htm. To get a quick overview of the Connect Pro program,
visit https://www.adobe.com/go/connectpro_overview. FDA has verified
the website addresses in this document, as of the date this document
publishes in the Federal Register, but websites are subject to change
over time.
    Transcripts: Please be advised that as soon as a transcript of the
public meeting is available, it will be accessible at https://www.regulations.gov. It may be viewed at the Dockets Management Staff
(see ADDRESSES).

    Dated: February 9, 2022.
Lauren K. Roth,
Associate Commissioner for Policy.
[FR Doc. 2022-03097 Filed 2-11-22; 8:45 am]
BILLING CODE 4164-01-P