                          Incorporation by Reference
                      Docket ID No. EPA-HQ-OAR-2009-0927
                                 April 1, 2013

The contents of the following dockets are hereby incorporated by reference into and are considered to be included in, contained in and to have been placed in Docket EPA-HQ-OAR-
2009-0927 (Additional Sources of Fluorinated Gases):

   1) EPA - HQ -  OAR - 2011 - 0028 (Proposed Confidentiality Determinations for 9 Subparts and Proposed Amendments and Confidentiality Determinations for Subpart I)
   2) EPA - HQ - OAR - 2011 - 0147 (Technical Corrections, Clarifying and Other Amendments to the Greenhouse Gas Reporting Rule, and Proposed Confidentiality Determinations for Certain Data Elements of the Fluorinated Gas Source Category)
   3) EPA-HQ-OAR-2011-0512 (Technical Revisions for Subparts I and W of the Greenhouse Gas Reporting Rule and Electronics Manufacturing: Revisions to Heat Transfer Fluid Provisions)
   4) EPA-HQ-OAR-2012-0934 (2013 Technical Corrections, Clarifying, and Other Amendments to Certain Provisions of the Mandatory Greenhouse Gas Reporting Rule)

Accessing dockets:

Publicly available docket materials are available either electronically through
www.regulations.gov or in hard copy at EPA's Docket Center, Public Reading Room, EPA West
Building, Room 3334, 1301 Constitution Avenue, NW, Washington, DC 20004. This Docket
Facility is open from 8:30 a.m. to 4:30 p.m., Monday through Friday, excluding legal holidays.
The telephone number for the Public Reading Room is<PHONE_NUMBER>, and the telephone number for the Air Docket is<PHONE_NUMBER>.


[Federal Register Volume 86, Number 195 (Wednesday, October 13, 2021)]
[Notices]
[Pages 56989-56996]
[FR Doc No: 2021-22170]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-93264; File No. SR-NYSEArca-2021-84]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To List and Trade
Shares of the Schwab Ariel ESG ETF

October 6, 2021.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given
that, on September 24, 2021, NYSE Arca, Inc. (``NYSE Arca'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I and
II below, which Items have been prepared by the Exchange. The
Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
---------------------------------------------------------------------------

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

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

    The Exchange proposes to list and trade shares of the following
under NYSE Arca Rule 8.601-E: Schwab Ariel ESG ETF. The proposed rule
change is available on the Exchange's website at www.nyse.com, at the
principal office of the Exchange, and at the Commission's Public
Reference Room.

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

    In its filing with the Commission, the self-regulatory organization
included statements concerning the purpose of, and basis for, the
proposed rule change and discussed any comments it received on the
proposed rule change. The text of those statements may be examined at

the places specified in Item IV below. The Exchange has prepared
summaries, set forth in sections A, B, and C below, of the most
significant parts of such statements.

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

1. Purpose
    The Exchange has adopted NYSE Arca Rule 8.601-E for the purpose of
permitting the listing and trading, or trading pursuant to unlisted
trading privileges (``UTP''), of Active Proxy Portfolio Shares, which
are securities issued by an actively-managed open-end investment
management company.\4\ Commentary .01 to Rule 8.601-E requires the
Exchange to file separate proposals under Section 19(b) of the Act
before listing and trading any series of Active Proxy Portfolio Shares
on the Exchange. Therefore, the Exchange is submitting this proposal in
order to list and trade shares (``Shares'') of Active Proxy Portfolio
Shares of the Schwab Ariel ESG ETF (the ``Fund'') under Rule 8.601-E.
---------------------------------------------------------------------------

    \4\ See Securities Exchange Act Release No. 89185 (June 29,
2020), 85 FR 40328 (July 6, 2020) (SR-NYSEArca-2019-95). Rule 8.601-
E(c)(1) provides that ``[t]he term ``Active Proxy Portfolio Share''
means a security that (a) is issued by a investment company
registered under the Investment Company Act of 1940 (``Investment
Company'') organized as an open-end management investment company
that invests in a portfolio of securities selected by the Investment
Company's investment adviser consistent with the Investment
Company's investment objectives and policies; (b) is issued in a
specified minimum number of shares, or multiples thereof, in return
for a deposit by the purchaser of the Proxy Portfolio and/or cash
with a value equal to the next determined net asset value (``NAV'');
(c) when aggregated in the same specified minimum number of Active
Proxy Portfolio Shares, or multiples thereof, may be redeemed at a
holder's request in return for the Proxy Portfolio and/or cash to
the holder by the issuer with a value equal to the next determined
NAV; and (d) the portfolio holdings for which are disclosed within
at least 60 days following the end of every fiscal quarter.'' Rule
8.601-E(c)(2) provides that ``[t]he term ``Actual Portfolio'' means
the identities and quantities of the securities and other assets
held by the Investment Company that shall form the basis for the
Investment Company's calculation of NAV at the end of the business
day.'' Rule 8.601-E(c)(3) provides that ``[t]he term ``Proxy
Portfolio'' means a specified portfolio of securities, other
financial instruments and/or cash designed to track closely the
daily performance of the Actual Portfolio of a series of Active
Proxy Portfolio Shares as provided in the exemptive relief pursuant
to the Investment Company Act of 1940 applicable to such series.''
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Key Features of Active Proxy Portfolio Shares
    While funds issuing Active Proxy Portfolio Shares will be actively-
managed and, to that extent, will be similar to Managed Fund Shares,
Active Proxy Portfolio Shares differ from Managed Fund Shares in the
following important respects. First, in contrast to Managed Fund
Shares, which are actively-managed funds listed and traded under NYSE
Arca Rule 8.600-E \5\ and for which a ``Disclosed Portfolio'' is
required to be disseminated at least once daily,\6\ the portfolio for
an issue of Active Proxy Portfolio Shares will be publicly disclosed
within at least 60 days following the end of every fiscal quarter in
accordance with normal disclosure requirements otherwise applicable to
open-end management investment companies registered under the
Investment Company Act of 1940 (the ``1940 Act'').\7\ The composition
of the portfolio of an issue of Active Proxy Portfolio Shares would not
be available at commencement of Exchange listing and trading. Second,
in connection with the creation and redemption of Active Proxy
Portfolio Shares, such creation or redemption may be exchanged for a
Proxy Portfolio and/or cash with a value equal to the next-determined
NAV. A series of Active Proxy Portfolio Shares will disclose the Proxy
Portfolio on a daily basis, which, as described above, is designed to
track closely the daily performance of the Actual Portfolio of a series
of Active Proxy Portfolio Shares, instead of the actual holdings of the
Investment Company, as provided by a series of Managed Fund Shares.
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    \5\ The Commission has previously approved listing and trading
on the Exchange of a number of issues of Managed Fund Shares under
NYSE Arca Rule 8.600-E. See, e.g., Securities Exchange Act Release
Nos. 57801 (May 8, 2008), 73 FR 27878 (May 14, 2008) (SR-NYSEArca-
2008-31) (order approving Exchange listing and trading of twelve
actively-managed funds of the WisdomTree Trust); 60460 (August 7,
2009), 74 FR 41468 (August 17, 2009) (SR-NYSEArca-2009-55) (order
approving listing of Dent Tactical ETF); 63076 (October 12, 2010),
75 FR 63874 (October 18, 2010) (SR-NYSEArca-2010-79) (order
approving Exchange listing and trading of Cambria Global Tactical
ETF); 63802 (January 31, 2011), 76 FR 6503 (February 4, 2011) (SR-
NYSEArca-2010-118) (order approving Exchange listing and trading of
the SiM Dynamic Allocation Diversified Income ETF and SiM Dynamic
Allocation Growth Income ETF). The Commission also has approved a
proposed rule change relating to generic listing standards for
Managed Fund Shares. See Securities Exchange Act Release No. 78397
(July 22, 2016), 81 FR 49320 (July 27, 2016) (SR-NYSEArca-2015-110)
(amending NYSE Arca Equities Rule 8.600 to adopt generic listing
standards for Managed Fund Shares).
    \6\ NYSE Arca Rule 8.600-E(c)(2) defines the term ``Disclosed
Portfolio'' as the identities and quantities of the securities and
other assets held by the Investment Company that will form the basis
for the Investment Company's calculation of net asset value at the
end of the business day. NYSE Arca Rule 8.600-E(d)(2)(B)(i) requires
that the Disclosed Portfolio will be disseminated at least once
daily and will be made available to all market participants at the
same time.
    \7\ A mutual fund is required to file with the Commission its
complete portfolio schedules for the second and fourth fiscal
quarters on Form N-CSR under the 1940 Act. Information reported on
Form N-PORT for the third month of a fund's fiscal quarter will be
made publicly available 60 days after the end of a fund's fiscal
quarter. Form N-PORT requires reporting of a fund's complete
portfolio holdings on a position-by-position basis on a quarterly
basis within 60 days after fiscal quarter end. Investors can obtain
a series of Active Proxy Portfolio Shares' Statement of Additional
Information (``SAI''), its Shareholder Reports, its Form N-CSR,
filed twice a year, and its Form N-CEN, filed annually. A series of
Active Proxy Portfolio Shares' SAI and Shareholder Reports will be
available free upon request from the Investment Company, and those
documents and the Form N-PORT, Form N-CSR, and Form N-CEN may be
viewed on-screen or downloaded from the Commission's website at
www.sec.gov.
---------------------------------------------------------------------------

    The Commission has previously approved \8\ and noticed for
immediate effectiveness \9\ proposals for the listing and trading on
the Exchange of series of Active Proxy Portfolio Shares under NYSE Arca
Rule 8.601-E.
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    \8\ See Securities Exchange Act Release Nos. 89185 (June 29,
2020), 85 FR 40328 (July 6, 2020) (SR-NYSEArca-2019-95) (Notice of
Filing of Amendment No. 6 and Order Granting Accelerated Approval of
a Proposed Rule Change, as Modified by Amendment No. 6, to Adopt
NYSE Arca Rule 8.601-E to Permit the Listing and Trading of Active
Proxy Portfolio Shares and To List and Trade Shares of the Natixis
U.S. Equity Opportunities ETF Under Proposed NYSE Arca Rule 8.601-E)
(the ``Natixis Order''); 89192 (June 30, 2020), 85 FR 40699 (July 7,
2020) (SR-NYSEArca-2019-96) (Notice of Filing of Amendment No. 5 and
Order Granting Accelerated Approval of a Proposed Rule Change, as
Modified by Amendment No. 5, to List and Trade Two Series of Active
Proxy Portfolio Shares Issued by the American Century ETF Trust
under NYSE Arca Rule 8.601-E); 89191 (June 30, 2020), 85 FR 40358
(July 6, 2020) (SR-NYSEArca-2019-92) (Notice of Filing of Amendment
No. 3 and Order Granting Accelerated Approval of a Proposed Rule
Change, as Modified by Amendment No. 3, to List and Trade Four
Series of Active Proxy Portfolio Shares Issued by T. Rowe Price
Exchange-Traded Funds, Inc. under NYSE Arca Rule 8.601-E); 89438
(July 31, 2020), 85 FR 47821 (August 6, 2020) (SR-NYSEArca-2020-51)
(Order Granting Approval of a Proposed Rule Change, as Modified by
Amendment No. 2, to List and Trade Shares of Natixis Vaughan Nelson
Select ETF and Natixis Vaughan Nelson MidCap ETF under NYSE Arca
Rule 8.601-E). See also Securities Exchange Act Release Nos. 88887
(May 15, 2020), 85 FR 30990 (May 21, 2020) (SR-CboeBZX-2019-107)
(Notice of Filing of Amendment No. 5 and Order Granting Accelerated
Approval of a Proposed Rule Change, as Modified by Amendment No. 5,
to Adopt Rule 14.11(m), Tracking Fund Shares, and to List and Trade
Shares of the Fidelity Blue Chip Value ETF, Fidelity Blue Chip
Growth ETF, and Fidelity New Millennium ETF).
    \9\ See Securities Exchange Act Release No. 92104 (June 3,
2021), 86 FR 30635 (June 9, 2021) (NYSEArca-2021-46) (Notice of
Filing and Immediate Effectiveness of Proposed Rule Change to List
and Trade Shares of the Nuveen Santa Barbara Dividend Growth ETF,
Nuveen Small Cap Select ETF, and Nuveen Winslow Large-Cap Growth ESG
ETF Under NYSE Arca Rule 8.601-E (Active Proxy Portfolio Shares).
---------------------------------------------------------------------------

    The Shares of the Fund will be issued by the Schwab Strategic Trust
(the ``Trust''), which is organized as a statutory trust under the laws
of the state of Delaware and registered with the Commission as an open-
end management investment company. \10\

Charles Schwab Investment Management, Inc., will be the investment
adviser to the Fund (the ``Adviser''). Ariel Investments, LLC will be
the sub-adviser (the ``Sub-Adviser'') for the Fund. State Street Bank
and Trust Company will serve as the Fund's custodian and transfer
agent. SEI Investments Distribution Co. will act as the distributor
(the ``Distributor'') for the Fund.
---------------------------------------------------------------------------

    \10\ The Trust is registered under the 1940 Act. On April 5,
2021, the Trust filed a registration statement on Form N-1A under
the under the Securities Act of 1933 (the ``1933 Act'') and the 1940
Act relating to the Fund (File No. 811-22311) (the ``Registration
Statement''). The effectiveness of the Registration Statement was
delayed by Post-Effective Amendment No. 134 to the Registration
Statement, which was filed on July 1, 2021, Post-Effective Amendment
No. 135 to the Registration Statement, which was filed on July 29,
2021, and Post-Effective Amendment No. 136 to the Registration
Statement, which was filed on August 26, 2021, each filed pursuant
to paragraph (a) of Rule 485 of the 1933 Act for the sole purpose of
delaying the effectiveness of the Registration Statement. The Trust
filed an application for an order under Section 6(c) of the 1940 Act
for exemptions from various provisions of the 1940 Act and rules
thereunder (File No. 812-15216), dated April 5, 2021, and an
amendment to the application on May 20, 2021 (the ``Application'').
On July 7, 2021, the Commission issued an order (the ``Exemptive
Order'') under the 1940 Act granting the exemptions requested in the
Application (Investment Company Act Release No. 34323, July 7,
2021). Investments made by the Fund will comply with the conditions
set forth in the Application and the Exemptive Order. The
description of the operation of the Fund herein is based, in part,
on the Registration Statement, the Application and the Exemptive
Order. The Exchange will not commence trading in Shares of the Fund
until the Registration Statement is effective.
---------------------------------------------------------------------------

    Commentary .04 to NYSE Arca Rule 8.601-E provides that, if the
investment adviser to the Investment Company issuing Active Proxy
Portfolio Shares is registered as a broker-dealer or is affiliated with
a broker-dealer, such investment adviser will erect and maintain a
``firewall'' between the investment adviser and personnel of the
broker-dealer or broker-dealer affiliate, as applicable, with respect
to access to information concerning the composition and/or changes to
such Investment Company's Actual Portfolio and/or Proxy Portfolio. Any
person related to the investment adviser or Investment Company who
makes decisions pertaining to the Investment Company's Actual Portfolio
and/or Proxy Portfolio or has access to non-public information
regarding the Investment Company's Actual Portfolio and/or Proxy
Portfolio or changes thereto must be subject to procedures reasonably
designed to prevent the use and dissemination of material non-public
information regarding the Actual Portfolio and/or Proxy Portfolio or
changes thereto. Commentary .04 is similar to Commentary .03(a)(i) and
(iii) to NYSE Arca Rule 5.2-E(j)(3); however, Commentary .04, in
connection with the establishment of a ``firewall'' between the
investment adviser and the broker-dealer, reflects the applicable open-
end fund's portfolio, not an underlying benchmark index, as is the case
with index-based funds.\11\ Commentary .04 is also similar to
Commentary .06 to Rule 8.600-E related to Managed Fund Shares, except
that Commentary .04 relates to establishment and maintenance of a
``firewall'' between the investment adviser and personnel of the
broker-dealer or broker-dealer affiliate, as applicable, applicable to
an Investment Company's Actual Portfolio and/or Proxy Portfolio or
changes thereto, and not just to the underlying portfolio, as is the
case with Managed Fund Shares.
---------------------------------------------------------------------------

    \11\ An investment adviser to an open-end fund is required to be
registered under the Investment Advisers Act of 1940 (the ``Advisers
Act''). As a result, the Adviser and Sub-Adviser and their related
personnel will be subject to the provisions of Rule 204A-1 under the
Advisers Act relating to codes of ethics. This Rule requires
investment advisers to adopt a code of ethics that reflects the
fiduciary nature of the relationship to clients as well as
compliance with other applicable securities laws. Accordingly,
procedures designed to prevent the communication and misuse of non-
public information by an investment adviser must be consistent with
Rule 204A-1 under the Advisers Act. In addition, Rule 206(4)-7 under
the Advisers Act makes it unlawful for an investment adviser to
provide investment advice to clients unless such investment adviser
has (i) adopted and implemented written policies and procedures
reasonably designed to prevent violations, by the investment adviser
and its supervised persons, of the Advisers Act and the Commission
rules adopted thereunder; (ii) implemented, at a minimum, an annual
review regarding the adequacy of the policies and procedures
established pursuant to subparagraph (i) above and the effectiveness
of their implementation; and (iii) designated an individual (who is
a supervised person) responsible for administering the policies and
procedures adopted under subparagraph (i) above.
---------------------------------------------------------------------------

    In addition, Commentary .05 to Rule 8.601-E provides that any
person or entity, including a custodian, Reporting Authority,
distributor, or administrator, who has access to non-public information
regarding the Investment Company's Actual Portfolio or the Proxy
Portfolio or changes thereto, must be subject to procedures reasonably
designed to prevent the use and dissemination of material non-public
information regarding the applicable Investment Company Actual
Portfolio or the Proxy Portfolio or changes thereto. Moreover, if any
such person or entity is registered as a broker-dealer or affiliated
with a broker-dealer, such person or entity will erect and maintain a
``firewall'' between the person or entity and the broker-dealer with
respect to access to information concerning the composition and/or
changes to such Investment Company Actual Portfolio or Proxy Portfolio.
    The Adviser and Sub-Adviser are not registered as broker-dealers
but are affiliated with broker-dealers. The Adviser and Sub-Adviser
each have implemented and will maintain a ``firewall'' with respect to
such broker-dealer affiliates regarding access to information
concerning the composition of and/or changes to the Fund's Actual
Portfolio and/or Proxy Portfolio.
    In the event (a) the Adviser and/or Sub-Adviser becomes registered
as a broker-dealer or becomes newly affiliated with a broker-dealer, or
(b) any new adviser or sub-adviser is or becomes a registered broker-
dealer, or becomes affiliated with a broker-dealer, it will implement
and maintain a ``firewall'' with respect to its relevant personnel or
its broker-dealer affiliate regarding access to information concerning
the composition and/or changes to the Fund's Actual Portfolio and/or
Proxy Portfolio, and will be subject to procedures designed to prevent
the use and dissemination of material non-public information regarding
the Fund's Actual Portfolio and/or Proxy Portfolio or changes thereto.
Any person related to the Adviser, Sub-Adviser, or the Fund who makes
decisions pertaining to the Fund's Actual Portfolio or the Proxy
Portfolio or has access to non-public information regarding the Fund's
Actual Portfolio and/or the Proxy Portfolio or changes thereto are
subject to procedures reasonably designed to prevent the use and
dissemination of material non-public information regarding the Fund's
Actual Portfolio and/or the Proxy Portfolio or changes thereto.
    In addition, any person or entity, including any service provider
for the Fund, who has access to non-public information regarding the
Fund's Actual Portfolio or the Proxy Portfolio or changes thereto, will
be subject to procedures reasonably designed to prevent the use and
dissemination of material non-public information regarding the Fund's
Actual Portfolio and/or the Proxy Portfolio or changes thereto.
Moreover, if any such person or entity is registered as a broker-dealer
or affiliated with a broker-dealer, such person or entity has erected
and will maintain a ``firewall'' between the person or entity and the
broker-dealer with respect to access to information concerning the
composition and/or changes to the Fund's Actual Portfolio and/or Proxy
Portfolio.

Description of the Fund
    According to the Registration Statement, the Adviser or Sub-Adviser
will identify a Proxy Portfolio for the Fund. The Fund's Proxy
Portfolio is not the Fund's Actual Portfolio but will be designed to
closely track the daily performance of the Fund through a ``Factor
Model'' analysis of the Actual Portfolio. The Fund will generate the
Proxy Portfolio by applying the Factor Model to a ``Model Universe''
comprised of securities that the Fund can purchase. The Proxy Portfolio
will only include investments the Fund is permitted to hold. While the
Proxy Portfolio and the Actual Portfolio will likely hold some or many
of the same securities, the Proxy Portfolio and Actual Portfolio may
not include identical securities.
    The composition of the Proxy Portfolio will be published on the
Fund's website each Business Day \12\ before commencement of trading in
the Shares and will include the following information for each
portfolio holding in the Proxy Portfolio: (1) Ticker symbol; (2) CUSIP
or other identifier; (3) description of holding; (4) quantity of each
security or other asset held; and (5) percentage weight of the holding
in the Proxy Portfolio. The Proxy Portfolio may be reconstituted daily,
and the Adviser will not make intra-day changes to the Proxy Portfolio
except to correct errors in the published Proxy Portfolio.
---------------------------------------------------------------------------

    \12\ ``Business Day'' is defined to mean any day that the
Exchange is open, including any day when a Fund satisfies redemption
requests as required by Section 22(e) of the 1940 Act.
---------------------------------------------------------------------------

    In addition to the Proxy Portfolio, the Fund's website will publish
a variety of other information metrics regarding the relative behavior
of the Proxy Portfolio and the Actual Portfolio, including the ``Proxy
Overlap'' \13\ and the ``Tracking Error'' \14\ for the Fund.
---------------------------------------------------------------------------

    \13\ According to the Registration Statement, ``Proxy Overlap''
is the percentage weight overlap between the holdings of the prior
Business Day's Proxy Portfolio compared to the Actual Portfolio's
holdings that formed the basis for the Fund's calculation of NAV at
the end of the prior Business Day.
    \14\ According to the Registration Statement, ``Tracking Error''
is the standard deviation over the past three months of the daily
proxy spread (i.e., the difference, in percentage terms, between the
Proxy Portfolio per Share NAV and that of the Actual Portfolio at
the end of the trading day).
---------------------------------------------------------------------------

Schwab Ariel ESG ETF
    The Fund's holdings will conform to the permissible investments as
set forth in the Application and Exemptive Order, and the holdings will
be consistent with all requirements in the Application and Exemptive
Order.\15\ Any foreign common stocks held by the Fund will be traded on
an exchange that is a member of the Intermarket Surveillance Group
(``ISG'') or with which the Exchange has in place a comprehensive
surveillance sharing agreement.
---------------------------------------------------------------------------

    \15\ Pursuant to the Application and Exemptive Order, the
permissible investments for the Fund include only the following
instruments: ETFs traded on a U.S. exchange; exchange-traded notes
(``ETNs'') traded on a U.S. exchange; U.S. exchange-traded common
stocks; common stocks listed on a foreign exchange that trade on
such exchange contemporaneously with the Shares (``foreign common
stocks'') in the Exchange's Core Trading Session (normally, 9:30
a.m. to 4:00 p.m. Eastern time (``E.T.'')); U.S. exchange-traded
preferred stocks; U.S. exchange-traded American Depositary Receipts
(``ADRs''); U.S. exchange-traded real estate investment trusts; U.S.
exchange-traded commodity pools; U.S. exchange-traded metals trusts;
U.S. exchange-traded currency trusts; and U.S. exchange-traded
futures that trade contemporaneously with the Fund's Shares. In
addition, the Fund may hold cash and cash equivalents (short-term
U.S. Treasury securities, government money market funds, and
repurchase agreements). Pursuant to the Application and Exemptive
Order, the Fund will not hold short positions or invest in
derivatives other than U.S. exchange-traded futures, will not borrow
for investment purposes, and will not purchase any securities that
are illiquid investments at the time of purchase.
---------------------------------------------------------------------------

    According to the Registration Statement, the Fund's investment
objective is to seek long-term capital appreciation. The Fund will
invest primarily in exchange-traded equity securities of U.S. companies
that have been evaluated based on certain environmental, social, and
governance (``ESG'') criteria, as determined by the Sub-Adviser. The
Fund will normally invest in exchange-traded equity securities of
small- and mid-capitalization companies.
Investment Restrictions
    The Shares of the Fund will conform to the initial and continued
listing criteria under Rule 8.601-E. The Fund's holdings will be
limited to those described herein and consistent with permissible
holdings as described in the Application and Exemptive Order and all
requirements in the Application and Exemptive Order.\16\
---------------------------------------------------------------------------

    \16\ Id.
---------------------------------------------------------------------------

    The Fund's investments, including U.S. exchange traded futures,
will be consistent with its investment objective and will not be used
to enhance leverage (although certain U.S. exchange traded futures and
other investments may result in leverage). That is, the Fund's
investments will not be used to seek performance that is the multiple
or inverse multiple (e.g., 2X or -3X) of the Fund's primary broad-based
securities benchmark index (as defined in Form N-1A).\17\
---------------------------------------------------------------------------

    \17\ The Fund's broad-based securities benchmark index will be
identified in a future amendment to its Registration Statement
following the Fund's first full calendar year of performance.
---------------------------------------------------------------------------

Creations and Redemptions of Shares
    According to the Registration Statement, the Trust will issue and
sell Shares of the Fund only in specified minimum size ``Creation
Units'' through the Distributor on a continuous basis at their NAV next
determined after receipt of an order in proper form on any Business
Day. The NAV of the Fund's Shares will be calculated each Business Day
as of the close of regular trading on the Exchange, ordinarily 4:00
p.m. E.T. A Creation Unit will generally consist of at least 5,000
Shares.
    According to the Registration Statement, Shares of the Fund will be
purchased and redeemed in Creation Units. Creation Units are typically
purchased and redeemed in-kind, but they may also be purchased and
redeemed, in whole or in part, for cash in the Adviser's discretion.
Accordingly, purchasers will generally be required to purchase Creation
Units by making an in-kind deposit of a designated portfolio of
securities (the ``Deposit Securities''). If there is a difference
between the NAV attributable to a Creation Unit and the aggregate
market value of the Creation Basket exchanged for the Creation Unit,
the party conveying instruments with the lower value will also pay to
the other an amount in cash equal to that difference (the ``Cash
Component''). Together, the Deposit Securities and the Cash Component
will constitute the ``Fund Deposit.''
    Redemption of Creation Units would work much like the process to
purchase Creation Units, but in reverse. Shareholders redeeming their
Shares will generally receive an in-kind transfer of specified
instruments (``Redemption Instruments'').
    The names and quantities of the instruments that constitute the
Deposit Securities and Redemption Instruments for the Fund
(collectively, the ``Creation Basket'') will be the same as the Fund's
Proxy Portfolio, except to the extent purchases and redemptions are
made entirely or in part on a cash basis.
    Creation Units of the Fund may be purchased and/or redeemed
entirely for cash. When full or partial cash purchases or redemptions
of Creation Units are available or specified for the Fund, they will be
effected in essentially the same manner as in-kind purchases or
redemptions thereof. The Fund may determine, upon receiving a purchase
or redemption order from an authorized participant (``Authorized
Participant''), to have the purchase or redemption, as applicable, be
made entirely or in part in cash.

    Each Business Day, prior to the opening of trading on the Exchange,
the Fund will publish the Creation Basket for that day through the
National Securities Clearing Corporation or another method of public
dissemination. The published Creation Basket will apply until a new
Creation Basket is announced on the following Business Day, and there
will be no intra-day changes to the Creation Basket except to correct
errors in the published Creation Basket.
    All orders to purchase or redeem Creation Units must be placed by
or through an Authorized Participant that has entered into an
Authorized Participant Agreement with the Fund's Distributor. Orders
must be transmitted by an Authorized Participant pursuant to procedures
set forth in the Participant Agreement. The date on which an order to
purchase or redeem Creation Units is received and accepted is referred
to as the ``Transmittal Date.'' All Creation Unit orders must be
received no later than the Order Cut-Off Time in order to receive the
NAV determined on the Transmittal Date. When the Exchange closes
earlier than normal, the Fund may require orders for Creation Units to
be placed earlier in the Business Day.
Availability of Information
    The Fund's website (www.schwabassetmanagement.com), which will be
publicly available prior to the public offering of Shares, will include
a form of the prospectus for the Fund that may be downloaded. The
Fund's website will include on a daily basis, per Share for the Fund,
the prior Business Day's NAV and the ``Closing Price'' or ``Bid/Ask
Price,'' \18\ and a calculation of the premium/discount of the Closing
Price or Bid/Ask Price against such NAV.\19\ The Adviser has
represented that the Fund's website will also provide: (1) Any other
information regarding premiums/discounts as may be required for other
ETFs under Rule 6c-11 under the 1940 Act, as amended, and (2) any
information regarding the bid/ask spread for the Fund as may be
required for other ETFs under Rule 6c-11 under the 1940 Act, as
amended. The Fund's website also will disclose the information required
under Rule 8.601-E(c)(3).\20\ The website and information will be
publicly available at no charge.
---------------------------------------------------------------------------

    \18\ The records relating to Bid/Ask Prices will be retained by
the Fund or its service providers. The ``Bid/Ask Price'' is the
midpoint of the highest bid and lowest offer based upon the National
Best Bid and Offer as of the time of calculation of the Fund's NAV.
The ``National Best Bid and Offer'' is the current national best bid
and national best offer as disseminated by the Consolidated
Quotation System or UTP Plan Securities Information Processor. The
``Closing Price'' of Shares is the official closing price of the
Shares on the Exchange.
    \19\ The ``premium/discount'' refers to the premium or discount
to the NAV at the end of a trading day and will be calculated based
on the last Bid/Ask Price or the Closing Price on a given trading
day.
    \20\ See note 4, supra. Rule 8.601-E (c)(3) provides that the
website for each series of Active Proxy Portfolio Shares shall
disclose the information regarding the Proxy Portfolio as provided
in the exemptive relief pursuant to the 1940 Act applicable to such
series, including the following, to the extent applicable: (i)
Ticker symbol; (ii) CUSIP or other identifier; (iii) Description of
holding; (iv) Quantity of each security or other asset held; and (v)
Percentage weighting of the holding in the portfolio.
---------------------------------------------------------------------------

    The identity and quantity of investments in the Proxy Portfolio
will be publicly available on the Fund's website before the
commencement of trading in Shares on each Business Day. The website
will also include information relating to the Proxy Overlap and
Tracking Error, as discussed above.
    Typical mutual fund-style annual, semi-annual and quarterly
disclosures contained in the Fund's Commission filings will be provided
on the Fund's website on a current basis.\21\ Thus, the Fund will
publish the portfolio contents of its Actual Portfolio on a periodic
basis, and no less than 60 days after the end of every fiscal quarter.
---------------------------------------------------------------------------

    \21\ See note 7, supra.
---------------------------------------------------------------------------

    Investors can also obtain the Fund's SAI, Shareholder Reports, Form
N-CSR, N-PORT, and Form N-CEN. The prospectus, SAI, and Shareholder
Reports are available free upon request by contacting the Fund or each
document can be downloaded from the Fund's website, and those documents
and the Form N-CSR, N-PORT, and Form N-CEN may be viewed on-screen or
downloaded from the Commission's website. The Exchange also notes that,
pursuant to the Application, the Fund must comply with Regulation Fair
Disclosure, which prohibits selective disclosure of any material non-
public information.
    Information regarding the market price of Shares and trading volume
in Shares, will be continually available on a real-time basis
throughout the day on brokers' computer screens and other electronic
services. The previous day's closing price and trading volume
information for the Shares will be published daily in the financial
section of newspapers.
    Quotation and last sale information for the Shares and U.S.
exchange-traded instruments (excluding futures contracts) will be
available via the Consolidated Tape Association (``CTA'') high-speed
line, from the exchanges on which such securities trade, or through
major market data vendors or subscription services. Quotation and last
sale information for futures contracts will be available from the
exchanges on which they trade. Intraday price information for all
exchange-traded instruments, which include all eligible instruments
except cash and cash equivalents, will be available from the exchanges
on which they trade, or through major market data vendors or
subscription services. Intraday price information for cash equivalents
is available through major market data vendors, subscription services,
and/or pricing services.
Trading Halts
    With respect to trading halts, the Exchange may consider all
relevant factors in exercising its discretion to halt or suspend
trading in the Shares of the Fund.\22\ Trading in Shares of the Fund
will be halted if the circuit breaker parameters in NYSE Arca Rule
7.12-E have been reached. Trading also may be halted because of market
conditions or for reasons that, in the view of the Exchange, make
trading in the Shares inadvisable. Trading in the Shares will be
subject to NYSE Arca Rule 8.601-E(d)(2)(D), which sets forth
circumstances under which Shares of the Fund will be halted.
---------------------------------------------------------------------------

    \22\ See NYSE Arca Rule 7.12-E.
---------------------------------------------------------------------------

    Specifically, Rule 8.601-E(d)(2)(D) provides that the Exchange may
consider all relevant factors in exercising its discretion to halt
trading in a series of Active Proxy Portfolio Shares. Trading may be
halted because of market conditions or for reasons that, in the view of
the Exchange, make trading in the series of Active Proxy Portfolio
Shares inadvisable. These may include: (a) The extent to which trading
is not occurring in the securities and/or the financial instruments
composing the Proxy Portfolio and/or Actual Portfolio; or (b) whether
other unusual conditions or circumstances detrimental to the
maintenance of a fair and orderly market are present. If the Exchange
becomes aware that the NAV, Proxy Portfolio, or Actual Portfolio with
respect to a series of Active Proxy Portfolio Shares is not
disseminated to all market participants at the same time, the Exchange
shall halt trading in such series until such time as the NAV, Proxy
Portfolio, or Actual Portfolio is available to all market participants
at the same time.
Trading Rules
    The Exchange deems the Shares to be equity securities, thus
rendering trading in the Shares subject to the Exchange's existing
rules governing the trading of

equity securities. Shares will trade on the NYSE Arca Marketplace in
all trading sessions in accordance with NYSE Arca Rule 7.34-E(a). As
provided in NYSE Arca Rule 7.6-E, the minimum price variation (``MPV'')
for quoting and entry of orders in equity securities traded on the NYSE
Arca Marketplace is $0.01, with the exception of securities that are
priced less than $1.00 for which the MPV for order entry is $0.0001.
    The Shares will conform to the initial and continued listing
criteria under NYSE Arca Rule 8.601-E. The Exchange has appropriate
rules to facilitate trading in the Shares during all trading sessions.
    A minimum of 100,000 Shares for the Fund will be outstanding at the
commencement of trading on the Exchange. In addition, pursuant to Rule
8.601-E(d)(1)(B), the Exchange, prior to commencement of trading in the
Shares, will obtain a representation from the Trust that the NAV per
Share of the Fund will be calculated daily and that the NAV, Proxy
Portfolio, and the Actual Portfolio for the Fund will be made available
to all market participants at the same time.
    With respect to Active Proxy Portfolio Shares, all of the Exchange
member obligations relating to product description and prospectus
delivery requirements will continue to apply in accordance with
Exchange rules and federal securities laws, and the Exchange and the
Financial Industry Regulatory Authority, Inc. (``FINRA'') will continue
to monitor Exchange members for compliance with such requirements.
Surveillance
    The Exchange represents that trading in the Shares will be subject
to the existing trading surveillances, administered by the Exchange, as
well as cross-market surveillances administered by FINRA on behalf of
the Exchange, which are designed to detect violations of Exchange rules
and applicable federal securities laws.\23\ The Exchange represents
that these procedures are adequate to properly monitor Exchange trading
of the Shares in all trading sessions and to deter and detect
violations of Exchange rules and federal securities laws applicable to
trading on the Exchange.
---------------------------------------------------------------------------

    \23\ FINRA conducts cross-market surveillances on behalf of the
Exchange pursuant to a regulatory services agreement. The Exchange
is responsible for FINRA's performance under this regulatory
services agreement.
---------------------------------------------------------------------------

    The surveillances referred to above generally focus on detecting
securities trading outside their normal patterns, which could be
indicative of manipulative or other violative activity. When such
situations are detected, surveillance analysis follows and
investigations are opened, where appropriate, to review the behavior of
all relevant parties for all relevant trading violations.
    The Exchange or FINRA, on behalf of the Exchange, or both, will
communicate as needed regarding trading in the Shares and underlying
exchange-traded instruments with other markets and other entities that
are members of the ISG, and the Exchange or FINRA, on behalf of the
Exchange, or both, may obtain trading information regarding trading
such securities and underlying exchange-traded instruments from such
markets and other entities. In addition, the Exchange may obtain
information regarding trading in such securities and underlying
exchange-traded instruments from markets and other entities that are
members of ISG or with which the Exchange has in place a comprehensive
surveillance sharing agreement.\24\
---------------------------------------------------------------------------

    \24\ For a list of the current members of ISG, see
www.isgportal.org.
---------------------------------------------------------------------------

    The Adviser will make available daily to FINRA and the Exchange the
Actual Portfolio of the Fund, upon request, in order to facilitate the
performance of the surveillances referred to above.
    In addition, the Exchange also has a general policy prohibiting the
distribution of material, non-public information by its employees.
    Commentary .03 to NYSE Arca Rule 8.601-E provides that the Exchange
will implement and maintain written surveillance procedures for Active
Proxy Portfolio Shares. As part of these surveillance procedures, the
Investment Company's investment adviser will, upon request by the
Exchange or FINRA, on behalf of the Exchange, make available to the
Exchange or FINRA the daily Actual Portfolio holdings of each series of
Active Proxy Portfolio Shares. The Exchange believes that the ability
to access the information on an as needed basis will provide it with
sufficient information to perform the necessary regulatory functions
associated with listing and trading series of Active Proxy Portfolio
Shares on the Exchange, including the ability to monitor compliance
with the initial and continued listing requirements as well as the
ability to surveil for manipulation of Active Proxy Portfolio Shares.
    The Exchange will utilize its existing procedures to monitor issuer
compliance with the requirements of Rule 8.601-E. For example, the
Exchange will continue to use intraday alerts that will notify Exchange
personnel of trading activity throughout the day that may indicate that
unusual conditions or circumstances are present that could be
detrimental to the maintenance of a fair and orderly market. The
Exchange will require from the issuer of a series of Active Proxy
Portfolio Shares, upon initial listing and periodically thereafter, a
representation that it is in compliance with Rule 8.601-E. The Exchange
notes that Commentary .01 to Rule 8.601-E requires an issuer of Active
Proxy Portfolio Shares to notify the Exchange of any failure to comply
with the continued listing requirements of Rule 8.601-E. In addition,
the Exchange will require issuers to represent that they will notify
the Exchange of any failure to comply with the terms of applicable
exemptive and no-action relief. As part of its surveillance procedures,
the Exchange will rely on the foregoing procedures to become aware of
any non-compliance with the requirements of Rule 8.601-E.
    With respect to the Fund, all statements and representations made
in this filing regarding (a) the description of the portfolio or
reference asset, (b) limitations on portfolio holdings or reference
assets, or (c) the applicability of Exchange listing rules specified in
this rule filing shall constitute continued listing requirements for
listing the Shares on the Exchange. The Exchange will obtain a
representation from the Trust, prior to commencement of trading in the
Shares of the Fund, that it will advise the Exchange of any failure by
the Fund to comply with the continued listing requirements, and,
pursuant to its obligations under Section 19(g)(1) of the Act, the
Exchange will monitor for compliance with the continued listing
requirements. If the Fund is not in compliance with the applicable
listing requirements, the Exchange will commence delisting procedures
under NYSE Arca Rule 5.5-E(m).
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\25\ in general, and furthers the
objectives of Section 6(b)(5) of the Act,\26\ in particular, in that it
is designed to prevent fraudulent and manipulative acts and practices,
to promote just and equitable principles of trade, to remove
impediments to and perfect the mechanism of a free and open market and
a national market

system, and, in general, to protect investors and the public
interest.\27\
---------------------------------------------------------------------------

    \25\ 15 U.S.C. 78f(b).
    \26\ 15 U.S.C. 78f(b)(5).
    \27\ The Exchange represents that, for initial and continued
listing, the Fund will be in compliance with Rule 10A-3 under the
Act, as provided by NYSE Arca Rule 5.3-E.
---------------------------------------------------------------------------

    With respect to the proposed listing and trading of Shares of the
Fund, the Exchange believes that the proposed rule change is designed
to prevent fraudulent and manipulative acts and practices in that the
Shares will be listed and traded on the Exchange pursuant to the
initial and continued listing criteria in NYSE Arca Rule 8.601-E. One
hundred percent of the value of the Fund's Actual Portfolio (except for
cash and cash equivalents) at the time of purchase will be listed on
U.S. or foreign securities exchanges (or, in the limited case of
futures contracts, U.S. futures exchanges). The listing and trading of
such U.S. securities is subject to rules of the exchanges on which they
are listed and traded, as approved by the Commission.
    The Fund's holdings will conform to the permissible investments as
set forth in the Application and Exemptive Order, and the holdings will
be consistent with all requirements in the Application and Exemptive
Order.\28\
---------------------------------------------------------------------------

    \28\ See note 14 [sic], supra.
---------------------------------------------------------------------------

    The Exchange or FINRA, on behalf of the Exchange, or both, will
communicate as needed regarding trading in the Shares and underlying
exchange-traded instruments with other markets and other entities that
are members of the ISG, and the Exchange or FINRA, on behalf of the
Exchange, or both, may obtain trading information regarding trading in
the Shares and underlying exchange-traded instruments from such markets
and other entities. In addition, the Exchange may obtain information
regarding trading in the Shares and underlying exchange-traded
instruments from markets and other entities that are members of ISG or
with which the Exchange has in place a comprehensive surveillance
sharing agreement. Any foreign common stocks held by the Fund will be
traded on an exchange that is a member of the ISG or with which the
Exchange has in place a comprehensive surveillance sharing agreement.
    The daily dissemination of the identity and quantity of Proxy
Portfolio component investments, together with the right of Authorized
Participants to create and redeem each day at the NAV, will be
sufficient for market participants to value and trade Shares in a
manner that will not lead to significant deviations between the Shares'
Bid/Ask Price and NAV.
    The Fund's investments, including U.S. exchange-traded futures,
will be consistent with its investment objective and will not be used
to enhance leverage (although certain U.S. exchange-traded futures and
other investments may result in leverage). That is, the Fund's
investments will not be used to seek performance that is the multiple
or inverse multiple (e.g., 2X or -3X) of the Fund's primary broad-based
securities benchmark index (as defined in Form N-1A).
    The proposed rule change is designed to promote just and equitable
principles of trade and to protect investors and the public interest in
that the Exchange will obtain a representation from the Trust that the
NAV per Share of the Fund will be calculated daily and that the NAV,
Proxy Portfolio, and Actual Portfolio for the Fund will be made
available to all market participants at the same time. Investors can
obtain the Fund's SAI, shareholder reports, and its Form N-CSR, Form N-
PORT, and Form N-CEN. The Fund's SAI and shareholder reports will be
available free upon request from the Fund, and those documents and the
Form N-CSR, Form N-PORT, and Form N-CEN may be viewed on-screen or
downloaded from the Commission's website.
    Commentary .03 to NYSE Arca Rule 8.601-E provides that the Exchange
will implement and maintain written surveillance procedures for Active
Proxy Portfolio Shares. As part of these surveillance procedures, the
Investment Company's investment adviser will, upon request by the
Exchange or FINRA, on behalf of the Exchange, make available to the
Exchange or FINRA the daily portfolio holdings of each series of Active
Proxy Portfolio Shares. The Exchange believes that the ability to
access the information on an as needed basis will provide it with
sufficient information to perform the necessary regulatory functions
associated with listing and trading series of Active Proxy Portfolio
Shares on the Exchange, including the ability to monitor compliance
with the initial and continued listing requirements as well as the
ability to surveil for manipulation of Active Proxy Portfolio Shares.
With respect to the Fund, the Adviser will make available daily to
FINRA and the Exchange the portfolio holdings of the Fund upon request
in order to facilitate the performance of the surveillances referred to
above.
    The Exchange will utilize its existing procedures to monitor
compliance with the requirements of Rule 8.601-E. For example, the
Exchange will continue to use intraday alerts that will notify Exchange
personnel of trading activity throughout the day that may indicate that
unusual conditions or circumstances are present that could be
detrimental to the maintenance of a fair and orderly market. The
Exchange will require from the Trust, upon initial listing and
periodically thereafter, a representation that the Fund is in
compliance with Rule 8.601-E. The Exchange notes that Commentary .01 to
Rule 8.601-E requires the issuer of the Shares to notify the Exchange
of any failure to comply with the continued listing requirements of
Rule 8.601-E. In addition, the Exchange will require the issuer to
represent that it will notify the Exchange of any failure to comply
with the terms of applicable exemptive and no-action relief. The
Exchange will rely on the foregoing procedures to become aware of any
non-compliance with the requirements of Rule 8.601-E.
    In addition, with respect to the Fund, a large amount of
information will be publicly available regarding the Fund and the
Shares, thereby promoting market transparency.
    Quotation and last sale information for the Shares and U.S.
exchange-traded instruments (excluding futures contracts) will be
available via the CTA high-speed line, from the exchanges on which such
securities trade, or through major market data vendors or subscription
services. Intraday price information for all exchange-traded
instruments, which include all eligible instruments except cash and
cash equivalents, will be available from the exchanges on which they
trade, or through major market data vendors or subscription services.
Quotation and last sale information for futures contracts will be
available from the exchanges on which they trade. Intraday price
information for cash equivalents is available through major market data
vendors, subscription services, and/or pricing services.
    The website for the Fund will include a form of the prospectus that
may be downloaded, and additional data relating to NAV and other
applicable quantitative information, updated on a daily basis. Trading
in Shares of the Fund will be halted if the circuit breaker parameters
in NYSE Arca Rule 7.12-E have been reached or because of market
conditions or for reasons that, in the view of the Exchange, make
trading in the Shares inadvisable. Trading in the Shares will be
subject to NYSE Arca Rule 8.601-E(d)(2)(D), which sets forth
circumstances under which Shares of the Fund will be halted. In
addition, as noted above, investors will have ready access to the Proxy
Portfolio and quotation and last sale information for the Shares. The
identity and quantity of

investments in the Proxy Portfolio will be publicly available on the
Fund's website before the commencement of trading in Shares on each
Business Day. The Shares will conform to the initial and continued
listing criteria under Rule 8.601-E.\29\
---------------------------------------------------------------------------

    \29\ See note 4, supra.
---------------------------------------------------------------------------

    The Fund's holdings will conform to the permissible investments as
set forth in the Application and Exemptive Order, and the holdings will
be consistent with all requirements in the Application and Exemptive
Order.\30\ Any foreign common stocks held by the Fund will be traded on
an exchange that is a member of the ISG or with which the Exchange has
in place a comprehensive surveillance sharing agreement.
---------------------------------------------------------------------------

    \30\ See note 14 [sic], supra.
---------------------------------------------------------------------------

    The components of the Fund's Actual Portfolio will (a) be listed on
an exchange and the primary trading session of such exchange will trade
synchronously with the Exchange's Core Trading Session, as defined in
Rule 7.34-E(a); (b) with respect to exchange-traded futures, be listed
on a U.S. futures exchange; or (c) consist of cash and cash
equivalents.
    The proposed rule change is designed to perfect the mechanism of a
free and open market and, in general, to protect investors and the
public interest in that it will facilitate the listing and trading of
an additional type of actively-managed exchange-traded product that
will enhance competition among market participants, to the benefit of
investors and the marketplace. The Exchange will obtain a
representation from the Adviser, prior to commencement of trading in
the Shares of the Fund, that it will advise the Exchange of any failure
by the Fund to comply with the continued listing requirements, and,
pursuant to its obligations under Section 19(g)(1) of the Act, the
Exchange will monitor for compliance with the continued listing
requirements. If the Fund is not in compliance with the applicable
listing requirements, the Exchange will commence delisting procedures
under NYSE Arca Rule 5.5-E(m).
    As noted above, with respect to the Fund, the Exchange has in place
surveillance procedures relating to trading in the Shares and may
obtain information via ISG from other exchanges that are members of ISG
or with which the Exchange has entered into a comprehensive
surveillance sharing agreement. In addition, as noted above, with
respect to the Fund, investors will have ready access to information
regarding the Proxy Portfolio and quotation and last sale information
for the Shares.

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

    The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. The Exchange believes the
proposed rule change would permit listing and trading of another type
of actively-managed ETF that has characteristics different from
existing actively-managed and index ETFs and would introduce additional
competition among various ETF products to the benefit of investors.

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

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

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

    Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A) of the Act \31\ and Rule 19b-
4(f)(6) thereunder.\32\
---------------------------------------------------------------------------

    \31\ 15 U.S.C. 78s(b)(3)(A).
    \32\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change, along
with a brief description and text of the proposed rule change, at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
The Exchange has satisfied this requirement.
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act.

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 protected]. Please include
File Number SR-NYSEArca-2021-84 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NYSEArca-2021-84. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549 on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of the filing also will be available for inspection
and copying at the principal office of the Exchange. All comments
received will be posted without change. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-NYSEArca-2021-84 and should be submitted
on or before November 3, 2021.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\33\
---------------------------------------------------------------------------

    \33\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-22170 Filed 10-12-21; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 81, Number 134 (Wednesday, July 13, 2016)]
[Notices]
[Pages 45326-45328]
[FR Doc No: 2016-16490]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-78248; File No. SR-CFE-2016-003]

Self-Regulatory Organizations; CBOE Futures Exchange, LLC; Notice
of Proposed Rule Change Regarding Account and Order Ticket Information

July 7, 2016.
    Pursuant to Section 19(b)(7) of the Securities Exchange Act of 1934
(``Act''),\1\ notice is hereby given that on June 10, 2016 CBOE Futures
Exchange, LLC (``CFE'' or ``Exchange'') filed with the Securities and
Exchange Commission (``SEC'' or ``Commission'') the proposed rule
change described in Items I, II, and III below, which Items have been
prepared by CFE. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons. CFE also
has filed this proposed rule change with the Commodity Futures Trading
Commission (``CFTC''). CFE filed a written certification with the CFTC
under Section 5c(c) of the Commodity Exchange Act (``CEA'') \2\ on June
23, 2016.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(7).
    \2\ 7 U.S.C. 7a-2(c).

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

I. Self-Regulatory Organization's Description of the Proposed Rule
Change

    The Exchange proposes to amend its rules related to account and
order ticket information. The scope of this filing is limited solely to
the application of the rule amendments to security futures that may be
traded on CFE. The text of the proposed rule change is attached as
Exhibit 4 to the filing but is not attached to the publication of this
notice.

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

    In its filing with the Commission, CFE 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. CFE has prepared summaries, set forth in Sections A, B,
and C below, of the most significant aspects of such statements.

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

1. Purpose
    The purpose of the proposed CFE rule amendments included as part of
this rule change is to amend CFE Rules 403 (Order Entry), 414 (Exchange
of Contract for Related Position) (``ECRP''), and 415 (Block Trading)
to clarify information that must be included as part of an order. The
rule amendments included as part of this rule change are to apply to
all products traded on CFE, including both non-security futures and
security futures.
    CFE Rule 403(a) currently provides that Trading Privilege Holders
(``TPHs'') are required to include certain information when entering an
order into CFE's trading system. Pursuant to CFE Rule 403(a), each
order currently must contain the following information: (i) Whether the
order is a buy or sell order; (ii) order type; (iii) commodity; (iv)
contract expiration; (v) price; (vi) quantity; (vii) account type;
(viii) account designation (the number assigned by a TPH to each of its
accounts); (ix) in the case of orders for options, strike price, type
of option (put or call) and expiration month; and (x) such additional
information as may be prescribed from time to time by the Exchange.
    CFE Rule 414(f) currently provides that TPHs must identify and mark
an ECRP order as an ECRP.
    CFE Rule 415(e) currently provides that TPHs are required to
include specified information on the order ticket for a Block Trade.
Pursuant to CFE Rule 415(e), each TPH that is a party to a Block Trade
currently must record the following information on the order ticket:
The contract (including the expiration) to which the Block Trade
relates; the number of contracts traded; the price of execution or
premium; the time of execution (i.e., the time the parties agreed to
the Block Trade); the identity of the counterparty; that the
transaction is a Block Trade; and, if applicable, the account number of
the customer for which the Block Trade was executed, the underlying
commodity, whether the transaction involved a put or a call and the
strike price.
    The proposed amendments provide additional detail regarding certain
order information that must be provided under these Rules in the
following manner:
    First, the proposed amendments specify that, under CFE Rule 403(a),
the account designation that must be included in any order submitted to
CFE's trading system is the account number of the account of the party
for which the order was placed (except that a different account
designation may be included in the case of a bunched order or in the
case of an order for which there will be a post-trade allocation of the
resulting trade(s) to a different clearing member).
    A bunched order is an order that is entered on behalf of multiple
customer accounts and then allocated to the individual customer
accounts in accordance with applicable regulatory requirements.\3\
Because bunched orders are on behalf of multiple customer accounts,
individual customer account numbers are not required to be included
with bunched orders and instead the proposed amendments to Rule 403(a)
reference the requirement under CFE Rule 406(e) that a designation
specific to the allocation group and account controller be included in
the order rather the individual account numbers. Additionally, when a
TPH submits an order on behalf of a customer for which there is going
to be a post-trade allocation of the resulting trade(s) to a different
clearing member, the TPH may not know the account number of the
customer at that clearing member. Accordingly, the account designation
that the TPH is required to provide in those situations is not required
to be the account number of the account of the party for which the
order was placed and could be a suspense account number.
---------------------------------------------------------------------------

    \3\ CFE Rule 406(e) provides that, subject to compliance with
CFE Rule 605 (Sales Practice Rules) and the sales practice rules
referred to therein, each TPH may enter, or permit its Related
Parties to enter (as applicable), a bunched order for more than one
discretionary customer account into CFE's trading system by using a
designation specific to the allocation group and account controller
rather than including each of the individual account numbers in the
order, provided that the TPH has filed or is filing an allocation
scheme for the order in accordance with CFTC regulations.
---------------------------------------------------------------------------

    Second, the proposed amendments specify that, under CFE Rule
414(f), each TPH that acts as agent for an ECRP transaction must
include on the order ticket for the ECRP specified information provided
for in this proposed rule change. Specifically, CFE Rule 414(f) is
proposed to be revised to make clear that each TPH that acts as agent
for an ECRP must record the following details with respect to the
contract leg of the ECRP on its order ticket: The contract (including
the expiration); the number of contracts traded; the price of execution
or premium; the time of execution (i.e., the time the parties agreed to
the ECRP); the identity of the counterparty; that the transaction is an
ECRP; the account number of the customer for which the ECRP was
executed; and if applicable, the underlying commodity, whether the
transactions involved a put or a call and the strike price.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\4\ in general, and furthers the
objectives of Sections 6(b)(5) \5\ and 6(b)(7) \6\ in particular in
that it is designed:
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78f(b).
    \5\ 15 U.S.C. 78f(b)(5).
    \6\ 15 U.S.C. 78f(b)(7).
---------------------------------------------------------------------------

     To prevent fraudulent and manipulative acts and practices,
     to promote just and equitable principles of trade,
     to foster cooperation and coordination with persons
engaged in facilitating transactions in securities, and
     to remove impediments to and perfect the mechanism of a
free and open market and a national market system, and in general, to
protect investors and the public interest.
    The Exchange believes that the proposed rule change would
strengthen its ability to carry out its responsibilities as a self-
regulatory organization by providing further clarity and guidance
regarding the type of information that must be included as part of an
order. First, the proposed rule change will provide market participants
with greater clarity regarding the information that

must be provided when an order, ECRP transaction, or Block Trade is
submitted to CFE's system. Second, the proposed rule change would
contribute to enhancing the effectiveness of CFE's audit trail program
by helping to assure that required information is included as part of
each order.

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

    CFE does not believe that the proposed rule change will impose any
burden on competition not necessary or appropriate in furtherance of
the purposes of the Act, in that the rule change will enhance CFE's
ability to carry out its responsibilities as a self-regulatory
organization. The Exchange believes that the proposed rule change is
equitable and not unfairly discriminatory because the amendments
regarding account and order ticket information apply equally to all
market participants.

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

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

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

    The proposed rule change will become effective on June 23, 2016. At
any time within 60 days of the date of effectiveness of the proposed
rule change, the Commission, after consultation with the CFTC, may
summarily abrogate the proposed rule change and require that the
proposed rule change be refiled in accordance with the provisions of
Section 19(b)(1) of the Act.\7\
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78s(b)(1).
---------------------------------------------------------------------------

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-CFE-2016-003 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-CFE-2016-003. 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-CFE-2016-003, and should be
submitted on or before August 3, 2016.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
---------------------------------------------------------------------------

    \8\ 17 CFR 200.30-3(a)(73).
---------------------------------------------------------------------------

Brent J. Fields,
Secretary.
[FR Doc. 2016-16490 Filed 7-12-16; 8:45 am]
 BILLING CODE 8011-01-P


% Once daily oral exposure
% Children, Body weight set to 12.6 kg
% Dose to reach average blood cpfos conc = 0.004 ug/L
% Cecilia Tan
% Sept 1, 2016

% Setting model parameters
use human_parameters_MRP
use preg_female_parameters
BWSW=1;		% Set BW to a fixed value
BWST=12.6;	 % Set BW
PREG=0;		% Not pregnant
TSTOP=504;	%Simulation time = 21 days

%21-day exposure
DT = xlsRead("Food.xls", "child", "A1:A22"); % Dosing Times
DORAL=xlsRead("Food.xls", "child", "F1:F22"); % Dose in ug/kg/day

prepare time rbcce
start@nocallback

prepare @clear@all
start @NoCallback
simall = [_time _rbcce _urinetcpy _cv*350.6 _cvo*334.5 _blauc*350.6 _blauco*334.5 _blaucavg*350.6 _blaucoavg*334.5];	%conc unit = ug/L

save simall @file='HTM_cc' @format=ascii


[Federal Register Volume 83, Number 103 (Tuesday, May 29, 2018)]
[Notices]
[Page 24472]
[FR Doc No: 2018-11450]

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

ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-OECA-2013-0356; FRL-9978-68-OEI]

Information Collection Request Submitted to OMB for Review and
Approval; Comment Request; NESHAP for Group I Polymers and Resins
(Renewal)

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice.

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

SUMMARY: The Environmental Protection Agency (EPA) has submitted an
information collection request (ICR)--NESHAP for Group I Polymers and
Resins (Renewal), EPA ICR Number 2410.04, OMB Control Number 2060-
0665--to the Office of Management and Budget (OMB) for review and
approval in accordance with the Paperwork Reduction Act. This is a
proposed extension of the ICR, which is currently approved through May
31, 2018. Public comments were previously requested via the Federal
Register on June 29, 2017 during a 60-day comment period. This notice
allows for an additional 30 days for public comments. A fuller
description of the ICR is given below, including its estimated burden
and cost to the public. An agency may not conduct or sponsor and a
person is not required to respond to a collection of information unless
it displays a currently valid OMB control number.

DATES: Additional comments may be submitted on or before June 28, 2018.

ADDRESSES: Submit your comments, referencing Docket ID Number EPA-HQ-
OECA-2013-0356, to (1) EPA online using www.regulations.gov (our
preferred method), by email to [email protected], or by mail to: EPA
Docket Center, Environmental Protection Agency, Mail Code 28221T, 1200
Pennsylvania Ave. NW, Washington, DC 20460, and (2) OMB via email to
[email protected]. Address comments to OMB Desk Officer for
EPA.
    EPA's policy is that all comments received will be included in the
public docket without change including any personal information
provided, unless the comment includes profanity, threats, information
claimed to be Confidential Business Information (CBI) or other
information whose disclosure is restricted by statute.

FOR FURTHER INFORMATION CONTACT: Patrick Yellin, Monitoring,
Assistance, and Media Programs Division, Office of Compliance, Mail
Code 2227A, Environmental Protection Agency, 1200 Pennsylvania Ave. NW,
Washington, DC 20460; telephone number:<PHONE_NUMBER>; fax number:
(202) 564-0050; email address: [email protected].

SUPPLEMENTARY INFORMATION: Supporting documents, which explain in
detail the information that the EPA will be collecting, are available
in the public docket for this ICR. The docket can be viewed online at
www.regulations.gov or in person at the EPA Docket Center, EPA West,
Room 3334, 1301 Constitution Ave. NW, Washington, DC. The telephone
number for the Docket Center is<PHONE_NUMBER>. For additional
information about EPA's public docket, visit http://www.epa.gov/dockets.
    Abstract: The National Emission Standards for Hazardous Air
Pollutants (NESHAP) for the regulations published at 40 CFR part 63,
subpart U were proposed on June 12, 1995, promulgated on September 5,
1996, and amended on June 19, 2000, July 16, 2001, December 16, 2008,
and April 21, 2011. These regulations apply to existing and new
elastomer product process units (EPPU) and associated equipment
including waste management units, maintenance wastewater, heat exchange
systems, and equipment required by or utilized to comply with this
Subpart located at facilities that are major sources of hazardous air
pollutants (HAPs) and are classified in the Group I Polymers and Resins
source category. The Group I Polymers and Resins source category
includes the following categories: Butyl Rubber Production,
Epichlorohydrin Elastomers Production, Ethylene Propylene Rubber
Production, Hypalon Production, Neoprene Production, Nitrile Butadiene
Rubber (NBR) Production, Polybutadiene Rubber Production, Polysulfide
Rubber Production, and Styrene Butadiene Rubber and Latex Production.
New facilities include those that commenced construction, or
reconstruction after the date of proposal. This ICR combines burden
from the 2011 amendment with the burden associated with the existing
provisions of the rule. In general, all NESHAP standards require
initial notifications, performance tests, and periodic reports by the
owners/operators of the affected facilities. They are also required to
maintain records of the occurrence and duration of any startup,
shutdown, or malfunction in the operation of an affected facility, or
any period during which the monitoring system is inoperative. These
notifications, reports, and records are essential in determining
compliance, and are required of all affected facilities subject to
NESHAP. Any owner/operator subject to the provisions of this part shall
maintain a file containing these documents, and retain the file for at
least five years following the generation date of such maintenance
reports and records. All reports are sent to the delegated state or
local authority. In the event that there is no such delegated
authority, the reports are sent directly to the United States
Environmental Protection Agency (EPA) regional office.
    Form Numbers: None.
    Respondents/affected entities: Facilities with elastomer product
process units and associated equipment.
    Respondent's obligation to respond: Mandatory (40 CFR part 63,
subpart U).
    Estimated number of respondents: 19 (total).
    Frequency of response: Initially, occasionally, and semiannually.
    Total estimated burden: 56,400 hours (per year). Burden is defined
at 5 CFR 1320.3(b).
    Total estimated cost: $11,200,000 (per year), includes $5,230,000
annualized capital or operation & maintenance costs.
    Changes in the Estimates: There is an adjustment increase in the
total estimated burden, labor costs, and capital and O&M costs as
currently identified in the OMB Inventory of Approved Burdens. This
increase is not due to any program changes. The change in the burden
and cost estimates occurred because the previously approved ICR only
covered the burden and costs associated with the 2011 amendment. This
ICR combines the burden from both the 2011 amendment and the pre-2011
provisions of the rule.

Courtney Kerwin,
Director, Collection Strategies Division.
[FR Doc. 2018-11450 Filed 5-25-18; 8:45 am]
 BILLING CODE 6560-50-P


[Federal Register Volume 76, Number 81 (Wednesday, April 27, 2011)]
[Notices]
[Page 23614]
[FR Doc No: 2011-10098]

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

DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

[Internal Agency Docket No. FEMA-1964-DR; Docket ID FEMA-2011-0001]

Oregon; Amendment No. 1 to Notice of a Major Disaster Declaration

AGENCY: Federal Emergency Management Agency, DHS.

ACTION: Notice.

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

SUMMARY: This notice amends the notice of a major disaster declaration
for the State of Oregon (FEMA-1964-DR), dated March 25, 2011, and
related determinations.

DATES: Effective Date: April 15, 2011.

FOR FURTHER INFORMATION CONTACT: Peggy Miller, Office of Response and
Recovery, Federal Emergency Management Agency, 500 C Street, SW.,
Washington, DC 20472,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: The notice of a major disaster declaration
for the State of Oregon is hereby amended to include the following
areas among those areas determined to have been adversely affected by
the event declared a major disaster by the President in his declaration
of March 25, 2011.

    Coos and Lincoln Counties for Public Assistance.

    The following Catalog of Federal Domestic Assistance Numbers
(CFDA) are to be used for reporting and drawing funds: 97.030,
Community Disaster Loans; 97.031, Cora Brown Fund; 97.032, Crisis
Counseling; 97.033, Disaster Legal Services; 97.034, Disaster
Unemployment Assistance (DUA); 97.046, Fire Management Assistance
Grant; 97.048, Disaster Housing Assistance to Individuals and
Households In Presidentially Declared Disaster Areas; 97.049,
Presidentially Declared Disaster Assistance--Disaster Housing
Operations for Individuals and Households; 97.050 Presidentially
Declared Disaster Assistance to Individuals and Households--Other
Needs; 97.036, Disaster Grants--Public Assistance (Presidentially
Declared Disasters); 97.039, Hazard Mitigation Grant.

    Dated: April 20, 2011.
W. Craig Fugate,
Administrator, Federal Emergency Management Agency.
[FR Doc. 2011-10098 Filed 4-26-11; 8:45 am]
BILLING CODE 9111-23-P


[Federal Register: June 2, 2010 (Volume 75, Number 105)]
[Rules and Regulations]
[Page 30690]
[DOCID:fr02jn10-4]

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

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 91

[Docket No. FAA-2010-0563; Amendment No. 91-315 (Related to Docket No.
FAA-18334)]

Minimum Altitudes for IFR Operations

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Technical amendment.

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

SUMMARY: The FAA is correcting the introductory text in paragraph (a)
of Sec.  91.177 that was published on August 18, 1989. The phrase, ``or
unless otherwise authorized by the Administrator'' was inadvertently
removed from paragraph (a) introductory text. This action reinstates
that phrase with a minor revision.

DATES: Effective June 2, 2010.

FOR FURTHER INFORMATION CONTACT: Ellen Crum, Air Traffic Systems
Operations, Airspace and Rules Group, 800 Independence Ave., SW.,
Washington, DC 20591; telephone<PHONE_NUMBER>; e-mail
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

Background

    On August 18, 1989 (54 FR 34288), the FAA published a final rule
that revised 14 CFR part 91. In the final rule, the phrase in Sec.
91.177 (a) introductory text ``unless otherwise authorized by the
Administrator'' was inadvertently removed. The impact of this action
was not apparent until the FAA recently amended the guidelines for
establishing minimum vectoring altitudes. Without this phrase in the
regulation, certain altitudes are unavailable to air traffic control.
This action corrects this error with a minor revision. We are replacing
the word ``Administrator'' with ``FAA''. The new phrase will read
``unless otherwise authorized by the FAA''.

Good Cause for Immediate Adoption of This Final Rule

    Until recently, the FAA was unaware of the erroneous amendment to
this regulation and its impact on minimum vectoring altitudes. The FAA
concludes that immediate action is necessary to correct this error and
therefore, finds that notice and public comment under 5 U.S.C. 553(b)
are impracticable and contrary to the public interest. Further, the FAA
finds that good cause exists under 5 U.S.C. 553(d) for making this rule
effective immediately upon publication.

List of Subjects in 14 CFR Part 91

    Air traffic control, Aircraft, Airmen, Aviation safety, Reporting
and recordkeeping requirements.

The Amendment

0
In consideration of the foregoing, the Federal Aviation Administration
amends Chapter 1 of Title 14, Code of Federal Regulations, as follows:

PART 91--GENERAL OPERATING AND FLIGHT RULES

0
1. The authority citation for part 91 continues to read as follows:

    Authority:  49 U.S.C. 106(g), 1155, 40103, 40113, 40120, 44101,
44111, 44701, 44704, 44709, 44711, 44712, 44715, 44716, 44717,
44722, 46306, 46315, 46316, 46504, 46506-46507, 47122, 47508, 47528-
47531, articles 12 and 29 of the Convention on International Civil
Aviation (61 Stat. 1180).

0
2. Amend Sec.  91.177 by revising paragraph (a) introductory text to
read as follows:

Sec.  91.177  Minimum altitudes for IFR operations.

    (a) Operation of aircraft at minimum altitudes. Except when
necessary for takeoff or landing, or unless otherwise authorized by the
FAA, no person may operate an aircraft under IFR below--
* * * * *

    Issued in Washington, DC on May 27, 2010.
Pamela Hamilton-Powell,
Director, Office of Rulemaking.
[FR Doc. 2010-13132 Filed 6-1-10; 8:45 am]
BILLING CODE 4910-13-P