[Federal Register Volume 83, Number 160 (Friday, August 17, 2018)]
[Notices]
[Pages 41117-41118]
[FR Doc No: 2018-17743]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83836; File No. SR-NYSE-2018-31]

Self-Regulatory Organizations; New York Stock Exchange LLC; Order
Approving a Proposed Rule Change, as Modified by Amendment No. 1, To
Require Certain Member Organizations To Participate in Scheduled
Market-Wide Circuit Breaker Testing

August 13, 2018.

I. Introduction

    On June 26, 2018, New York Stock Exchange LLC (``Exchange'' or
``NYSE'') filed with the Securities and Exchange Commission
(``Commission'') pursuant to Section 19(b)(1) of the Securities
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a
proposed rule change to require certain member organizations to
participate in scheduled market-wide circuit breaker testing. On July
5, 2018, the Exchange filed Amendment No. 1 to the proposed rule
change, which supersedes the original filing in its entirety.\3\ The
proposed rule change, as amended by Amendment No. 1, was published for
comment in the Federal Register on July 11, 2018.\4\ The Commission has
received no comment letters on the proposed rule change. This order
approves the proposed rule change.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ In Amendment No. 1, the Exchange proposed to improve the
clarity of the proposal and elaborate on the Exchange's statement on
burden on competition. See Letter from Martha Redding, Associate
General Counsel, NYSE, to Brent J. Fields, Secretary, Commission
(Jul. 9, 2018), available at https://www.sec.gov/comments/sr-nyse-2018-31/nyse201831-4016966-167312.pdf.
    \4\ See Securities Exchange Act Release No. 83601 (Jul. 6,
2018), 83 FR 32172 (Jul. 11, 2018) (``Notice'').
---------------------------------------------------------------------------

II. Description of the Proposed Rule Change

    The Exchange proposes to amend NYSE Rule 49 to require certain
member organizations to participate in scheduled Market-Wide Circuit
Breaker (``MWCB'') testing.\5\
---------------------------------------------------------------------------

    \5\ The securities and futures exchanges have procedures for
coordinated cross-market trading halts if a severe market price
decline reaches levels that may exhaust market liquidity. These
procedures, known as market-wide circuit breakers, may halt trading
temporarily or, under extreme circumstances, close the markets
before the normal close of the trading session. Market-wide circuit
breakers provide for cross-market trading halts during a severe
market decline as measured by a single-day decrease in the S&P 500
Index. A cross-market trading halt can be triggered at three
circuit-breaker thresholds: 7% (Level 1), 13% (Level 2), and 20%
(Level 3). These triggers are set by the markets at levels that are
calculated daily based on the prior day's closing price of the S&P
500 Index.
---------------------------------------------------------------------------

    The Securities Information Processors (``SIPs'') for the U.S.
equity markets have established a quarterly MWCB testing schedule.\6\
On the scheduled dates, the Consolidated Tape Association Plan (``CTA
Plan'') and the Consolidated Quotation Plan (``CQ'' Plan'')
(collectively ``the CTA/CQ Plans''),\7\ along with the Nasdaq/UTP
Plan,\8\ conduct MWCB testing that allows market participants across
the securities industry to test their ability to receive messages
associated with MWCBs, including decline status, halt, and resume
messages. Market participants are also able to participate in testing
of re-opening auctions following market-wide circuit breaker halts.
---------------------------------------------------------------------------

    \6\ See, e.g., https://www.nyse.com/publicdocs/ctaplan/notifications/trader-update/CTS_CQS%202018_Failover%20Testing_Q1.pdf; https://www.nasdaqtrader.com/TraderNews.aspx?id=utp2017-15.
    \7\ The CTA/CQ Plans govern the collection, consolidation,
processing, and dissemination of last sale and quotation information
for Network A and Network B securities. Network A refers to
securities listed on NYSE and Network B refers to securities listed
on exchanges other than the Nasdaq Stock Market LLC (``Nasdaq'').
    \8\ The Joint Self-Regulatory Organization Plan Governing the
Collection, Consolidation and Dissemination of Quotation and
Transaction Information for Nasdaq-Listed Securities Traded on
Exchanges on an Unlisted Trading Privileges Basis (``Nasdaq/UTP
Plan'') governs the collection, consolidation, processing, and
dissemination of last sale and quotation information for Network C
securities. Network C refers to securities listed on Nasdaq.
---------------------------------------------------------------------------

    The Exchange states that quarterly MWCB testing is critical to
ensure that securities markets halt trading and subsequently re-open in
a manner consistent with the MWCB rules.\9\ To that end, the Exchange
states that certain member organizations should be required to
participate in scheduled MWCB tests. The proposed rule would provide
the Exchange with authority to require participation by certain member
organizations in industry-wide tests to validate that their processing
in the event of MWCB is as expected within their systems.
---------------------------------------------------------------------------

    \9\ Pursuant to NYSE Rule 80B (Trading Halts Due to
Extraordinary Market Volatility), a market-wide trading halt will be
triggered if the S&P 500 Index declines in price by specified
percentages from the prior day's closing price of that index.
Currently, the triggers are set at three circuit-breaker thresholds:
7% (Level 1), 13% (Level 2), and 20% (Level 3). A market decline
that triggers a Level 1 or Level 2 circuit breaker after 9:30 a.m.
ET and before 3:25 p.m. ET would halt market-wide trading for 15
minutes, while a similar market decline at or after 3:25 p.m. ET
would not halt market-wide trading. A market decline that triggers a
Level 3 circuit breaker, at any time during the trading day, would
halt market-wide trading for the remainder of the trading day.
---------------------------------------------------------------------------

    The Exchange also proposes new Rule 49(c)(1), which would provide
that each member organization notified of its obligation to participate
in mandatory testing pursuant to standards established under paragraphs
(b)(1) and (3) of Rule 49 \10\ would also be required to participate in
scheduled MWCB testing in the manner and frequency specified by the
Exchange. The Exchange proposes that future SCI Notices would also
include notification to member organizations of their obligation to
participate in a scheduled MWCB test.\11\
---------------------------------------------------------------------------

    \10\ In 2015, the Exchange adopted rules to require certain
member organizations to participate in testing of the operation of
the Exchange's business continuity and disaster recovery plans in
connection with Regulation Systems Compliance and Integrity
(``Regulation SCI''). Paragraph (b)(1) of Rule 49 establishes
standards for the designation by the Exchange of member
organizations that are necessary to participate in business
continuity and disaster recovery plans testing pursuant to
Regulation SCI. See Securities Exchange Act Release No. 76346 (Nov.
4, 2015), 80 FR 69765 (Nov. 10, 2015). The Exchange believes that,
because member organizations required to participate in Regulation
SCI testing have already been identified as essential for the
maintenance of a fair and orderly market, these same member
organizations should also be required to participate in scheduled
MWCB testing. See Notice, supra note 4, 83 FR at 32173.
    \11\ The Exchange states that the annual Regulation SCI test is
currently conducted in October of each calendar year and that it
provides at least (3) months advance notice to member organizations
that are required to participate in such SCI testing (``SCI
Notice'').
---------------------------------------------------------------------------

    Finally, proposed Rule 49(c)(2) would provide that member
organizations not required to participate in a scheduled MWCB test
pursuant to standards established in paragraphs (b)(1) and (3) of Rule
49 would be permitted to participate in a scheduled MWCB test.
    The Exchange proposes to implement the proposed rule change at the
same time that the Exchange notifies member organizations of required
participation in the 2019 Regulation SCI industry test.\12\ The 2019
SCI Notice would identify the member organizations that would be
required to participate in scheduled MWCB testing. Member organizations
notified in the 2019 SCI Notice of their obligation to participate in a
scheduled MWCB test would be required to participate in that test on at
least one of the testing dates established by the SIPs.\13\
---------------------------------------------------------------------------

    \12\ The Exchange states that member organizations were notified
in April 2018 of their required participation in the Regulation SCI
testing scheduled for October 13, 2018. The Exchange notes that,
while it encourages all member organizations to participate in MWCB
testing voluntarily, implementing the new rule in 2019 would provide
member organizations with sufficient time to prepare for a scheduled
MWCB test. See Notice, supra note 4, 83 FR at 32173 n. 8.
    \13\ See supra, note 6 and accompanying text.

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

III. Discussion and Commission's Findings

    After careful review, the Commission finds that the proposed rule
change, as modified by Amendment No. 1, is consistent with the
requirements of the Act and the rules and regulations thereunder
applicable to a national securities exchange.\14\ In particular, the
Commission finds that the proposed rule change, as modified by
Amendment No. 1, is consistent with Section 6(b)(5) of the Act,\15\
which requires, among other things, that the rules of a national
securities exchange be designed to prevent fraudulent and manipulative
acts and practices, to promote just and equitable principles of trade,
to foster cooperation and coordination with persons engaged in
regulating transactions in securities, to remove impediments to and
perfect the mechanism of a free and open market and a national market
system and, in general, to protect investors and the public interest,
and that the rules not be designed to permit unfair discrimination
between customers, issuers, brokers, or dealers. The Commission also
finds that the proposed rule change, as modified by Amendment No. 1, is
consistent with Section 6(b)(8) of the Act,\16\ which requires that the
rules of an exchange not impose any burden on competition that is not
necessary or appropriate in furtherance of the purposes of the Act. As
indicated above, the Commission has received no comment letters
addressing the proposed rule change.
---------------------------------------------------------------------------

    \14\ In approving this proposed rule change, the Commission has
considered the proposed rule's impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
    \15\ 15 U.S.C. 78f(b)(5).
    \16\ 15 U.S.C. 78f(b)(8).
---------------------------------------------------------------------------

    The Commission believes that amending NYSE Rule 49 to require
certain member organizations to participate in scheduled MWCB testing
would enable the Exchange, participating member organizations, and
others to assess the readiness of participating member organizations to
respond in the event of unanticipated market volatility. Member
organizations required to participate in MWCB testing pursuant to the
proposal would be designated as such using the same standards used by
the Exchange in determining which member organizations are subject to
mandatory Regulation SCI testing. Because these member organizations
have been designated by the Exchange as essential to the maintenance of
a fair and orderly market, their demonstrated ability to halt and
subsequently re-open trading in a manner consistent with the MWCB rules
should contribute to the fairness and orderliness of the market for the
benefit of all market participants. The Commission therefore believes
that the proposal, as modified by Amendment No. 1, is designed to
remove impediments to, and perfect the mechanism of, a free and open
market and a national market system, and to protect investors and the
public interest.
    Accordingly, for the reasons discussed above, the Commission
believes that the Exchange's proposal, as modified by Amendment No. 1,
is consistent with the Act.

IV. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\17\ that the proposed rule change (SR-NYSE-2018-31), as modified
by Amendment No.1, be, and hereby is, approved.
---------------------------------------------------------------------------

    \17\ 15 U.S.C. 78s(b)(2).
    \18\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\18\
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2018-17743 Filed 8-16-18; 8:45 am]
BILLING CODE 8011-01-P


Kristin Fitzgerald/DC/USEPA/US

12/20/2006 05:37 PM	To

<EMAIL_ADDRESS> 	cc

	bcc

	Patricia Mercer/DC/USEPA/US@EPA; Meg McCarthy/DC/USEPA/US@EPA; James

Michael/DC/USEPA/US@EPA

	Subject

	Follow-up Question to UW's Comment

Karen VanDusen

Director, Environmental Health and Safety

University of Washington

 Thank you for your comments on EPA’s Proposed Rule: Subpart K—Standards

Applicable to Academic Laboratories (71 Federal Register 29712) on behalf

of the University of Washington (UW).

In response to UW’s comments (Docket Number EPA-HQ-RCRA-2003-0012-0144.1),

EPA has a follow-up question.  In the preamble to the proposed rule (page

29720), EPA estimated that hazardous laboratory waste constitutes 9% of

the annual hazardous waste generated by college and university large

quantity generators.  EPA based this number on data submitted to EPA by

colleges and universities that are large quantity generators, as part of

the 2001 Biennial Report.

In contrast, on page 1 of UW’s comments to the docket, you commented that,

“The University of Washington is a LQG, and laboratory waste at this

institution represents approximately 65% of our annual hazardous waste

generation, based on 2004 data analysis.”  EPA is very interested in any

additional data that University of Washington has and can provide to

support this assertion.  This information would be beneficial to EPA in

its development of the final rule, in order to have a fuller understanding

of the laboratory waste generation patterns at colleges and universities.

Unfortunately, this comment is not useful to EPA without supporting data

that can substantiate or validate University of Washington’s waste

generation.  EPA would find it helpful if you could provide an explanation

of the origins of the data (e.g., what is included/excluded in the

categories of laboratory waste and hazardous waste), and how or why the

data may differ from the Biennial Report data we relied on.  In addition,

we would appreciate a timely response to allow us to incorporate any

information you may provide into the decision-making process, as

appropriate.   Please provide a response by the end of January 2007.  If

you are unable to provide a response by then, please contact us to let us

know if and when you could provide a timely response.

Any supporting information you provide to EPA will be made publicly

available in the docket for the rulemaking, unless the information is

claimed as Confidential Business Information (CBI). Therefore, if you

submit any information that you claim as CBI, clearly mark all of the

information that you claim to be CBI.  Information so marked will not be

disclosed, except in accordance with procedures set forth in 40 CFR part

2.  Please do not fax any information claimed as CBI.  For additional

information on how to submit CBI, refer to page 29713, of the May 23,

2006, Federal Register, proposed rule for academic laboratories, or

contact LaShan Haynes, the Office of Solid Waste CBI contact, at (703)

605-0516<EMAIL_ADDRESS> Again, thank you for your comments on the proposed standards for academic

laboratories.  Please direct any questions or response to this letter to

any member of EPA’s labs team:

Patricia Mercer,<PHONE_NUMBER><EMAIL_ADDRESS> Meg McCarthy,<PHONE_NUMBER><EMAIL_ADDRESS> Kristin Fitzgerald,<PHONE_NUMBER><EMAIL_ADDRESS> **************************************************************

Kristin Fitzgerald

US EPA - Office of Solid Waste

mail code:  5304P

phone:<PHONE_NUMBER>

fax:<PHONE_NUMBER>

email<EMAIL_ADDRESS> work schedule:  Tuesday/Thursday


[Federal Register Volume 76, Number 32 (Wednesday, February 16, 2011)]
[Proposed Rules]
[Pages 8919-8921]
[FR Doc No: 2011-3532]

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

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. FAA-2011-0042; Directorate Identifier 2010-NM-267-AD]
RIN 2120-AA64

Airworthiness Directives; DASSAULT AVIATION Model MYSTERE-FALCON
50 Airplanes

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice of proposed rulemaking (NPRM).

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

SUMMARY: We propose to adopt a new airworthiness directive (AD) for the
products listed above that would supersede an existing AD. This
proposed AD results from mandatory continuing airworthiness information
(MCAI) originated by an aviation authority of another country to
identify and correct an unsafe condition on an aviation product. The
MCAI describes the unsafe condition as:

    On two occurrences on Myst[egrave]re-Falcon 50 aeroplanes in
service, it was detected that two pipes of the emergency brake
system 2 located near the nose landing gear bearing were
swapped.
    The swapping of these two pipes implies that when the Left Hand
(LH) brake pedal is depressed, the Right Hand (RH) brake unit is
activated, and conversely, when the RH brake pedal is depressed, the
LH brake unit is actuated. This constitutes an unsafe condition,
which may go unnoticed as the condition is latent until the
emergency brake system 2 is used. This condition, if not
corrected, could ultimately lead to a runway excursion of the
aeroplane.

* * * * *
The proposed AD would require actions that are intended to address the
unsafe condition described in the MCAI.

DATES: We must receive comments on this proposed AD by April 4, 2011.

ADDRESSES: You may send comments by any of the following methods:
     Federal eRulemaking Portal: Go to http://www.regulations.gov. Follow the instructions for submitting comments.
     Fax:<PHONE_NUMBER>.
     Mail: U.S. Department of Transportation, Docket
Operations, M-30, West Building Ground Floor, Room W12-140, 1200 New
Jersey Avenue, SE., Washington, DC 20590.
     Hand Delivery: U.S. Department of Transportation, Docket
Operations, M-30, West Building Ground Floor, Room W12-40, 1200 New
Jersey Avenue, SE., Washington, DC, between 9 a.m. and 5 p.m., Monday
through Friday, except Federal holidays.
    For service information identified in this proposed AD, contact
Dassault Falcon Jet, P.O. Box 2000, South Hackensack, New Jersey 07606;
telephone<PHONE_NUMBER>; Internet http://www.dassaultfalcon.com. You may
review copies of the referenced service information at the FAA,
Transport Airplane Directorate, 1601 Lind Avenue SW., Renton,
Washington. For information on the availability of this material at the
FAA, call<PHONE_NUMBER>.

Examining the AD Docket

    You may examine the AD docket on the Internet at http://www.regulations.gov; or in person at the Docket Operations office
between 9 a.m. and 5 p.m., Monday through Friday, except Federal
holidays. The AD docket contains this proposed AD, the regulatory
evaluation, any comments received, and other information. The street
address for the Docket Operations

office (telephone<PHONE_NUMBER>) is in the ADDRESSES section. Comments
will be available in the AD docket shortly after receipt.

FOR FURTHER INFORMATION CONTACT: Tom Rodriguez, Aerospace Engineer,
International Branch, ANM-116, Transport Airplane Directorate, FAA,
1601 Lind Avenue, SW., Renton, Washington 98057-3356; telephone (425)
227-1137; fax<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Comments Invited

    We invite you to send any written relevant data, views, or
arguments about this proposed AD. Send your comments to an address
listed under the ADDRESSES section. Include ``Docket No. FAA-2011-0042;
Directorate Identifier 2010-NM-267-AD'' at the beginning of your
comments. We specifically invite comments on the overall regulatory,
economic, environmental, and energy aspects of this proposed AD. We
will consider all comments received by the closing date and may amend
this proposed AD based on those comments.
    We will post all comments we receive, without change, to http://www.regulations.gov, including any personal information you provide. We
will also post a report summarizing each substantive verbal contact we
receive about this proposed AD.

Discussion

    On November 15, 2010, we issued AD 2010-24-08, Amendment 39-16527
(75 FR 71530, November 24, 2010). That AD required actions intended to
address an unsafe condition on Model MYSTERE-FALCON 50 Airplanes.
    In AD 2010-24-08, we pointed out that the corresponding EASA AD, AD
2010-0208-E, dated October 12, 2010, requires painting the pipes end of
the emergency brake system number 2 and related unions within 7 months
after the effective date of that AD. We explained that AD 2010-24-08
did not require that action, and that we might consider additional
rulemaking to require this action in the future. We have determined
that further rulemaking is indeed necessary to require that action, and
this AD follows from that determination.
    You may obtain further information by examining the MCAI in the AD
docket.

FAA's Determination and Requirements of This Proposed AD

    This product has been approved by the aviation authority of another
country, and is approved for operation in the United States. Pursuant
to our bilateral agreement with the State of Design Authority, we have
been notified of the unsafe condition described in the MCAI and service
information referenced above. We are proposing this AD because we
evaluated all pertinent information and determined an unsafe condition
exists and is likely to exist or develop on other products of the same
type design.

Differences Between This AD and the MCAI or Service Information

    We have reviewed the MCAI and related service information and, in
general, agree with their substance. But we might have found it
necessary to use different words from those in the MCAI to ensure the
AD is clear for U.S. operators and is enforceable. In making these
changes, we do not intend to differ substantively from the information
provided in the MCAI and related service information.
    We might also have proposed different actions in this AD from those
in the MCAI in order to follow FAA policies. Any such differences are
highlighted in a Note within the proposed AD.

Costs of Compliance

    Based on the service information, we estimate that this proposed AD
would affect about 248 products of U.S. registry.
    The actions that are required by AD 2010-24-08 and retained in this
proposed AD take about 2 work-hours per product, at an average labor
rate of $85 per work hour. Based on these figures, the estimated cost
of the currently required actions is $170 per product.
    We estimate that it would take about 1 work-hour per product to
comply with the new basic requirements of this proposed AD. The average
labor rate is $85 per work-hour. Based on these figures, we estimate
the cost of the proposed AD on U.S. operators to be $21,080, or $85 per
product.

Authority for This Rulemaking

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

Regulatory Findings

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

List of Subjects in 14 CFR Part 39

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

The Proposed Amendment

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

PART 39--AIRWORTHINESS DIRECTIVES

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

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

Sec.  39.13  [Amended]

    2. The FAA amends Sec.  39.13 by removing Amendment 39-16527 (75 FR
71530, November 24, 2010) and adding the following new AD:

Dassault Aviation: Docket No. FAA-2011-0042; Directorate Identifier
2010-NM-267-AD.

Comments Due Date

    (a) We must receive comments by April 4, 2011.

Affected ADs

    (b) This AD supersedes AD 2010-24-08, Amendment 39-16527.

Applicability

    (c) This AD applies to DASSAULT AVIATION Model MYSTERE-FALCON 50
airplanes, certificated in any category, all serial numbers.

Subject

    (d) Air Transport Association (ATA) of America Code 32: Landing
Gear.

Reason

    (e) The mandatory continuing airworthiness information (MCAI)
states:

    On two occurrences on Myst[egrave]re-Falcon 50 aeroplanes in
service, it was detected that two pipes of the emergency brake
system 2 located near the nose landing gear bearing were
swapped.
    The swapping of these two pipes implies that when the Left Hand
(LH) brake pedal is depressed, the Right Hand (RH) brake unit is
activated, and conversely, when the RH brake pedal is depressed, the
LH brake unit is actuated. This constitutes an unsafe condition,
which may go unnoticed as the condition is latent until the
emergency brake system 2 is used. This condition, if not
corrected, could ultimately lead to a runway excursion of the
aeroplane.

Compliance

    (f) You are responsible for having the actions required by this
AD performed within the compliance times specified, unless the
actions have already been done.

Restatement of Requirements of AD 2010-24-08

Actions

    (g) Within 7 days after December 9, 2010 (the effective date of
AD 2010-24-08), do a general visual inspection for correct
installation (as defined in Dassault Service Bulletin F50-515, dated
October 12, 2010) of the emergency brake system number 2, in
accordance with the Accomplishment Instructions of Dassault Service
Bulletin F50-515, dated October 12, 2010, except that work required
by this AD can only be done by persons prescribed in 14 CFR 43.3 and
43.7.
    (h) If the emergency brake system number 2 is found installed
incorrectly during the inspection required by paragraph (g) of this
AD: Before further flight, install the emergency brake system number
2 correctly, in accordance with the Accomplishment Instructions of
Dassault Service Bulletin F50-515, dated October 12, 2010.

New Requirements of This AD

    (i) Within 7 months after the effective date of this AD, paint
the pipe ends of the emergency brake system 2 and related
unions, in accordance with paragraph 2.C. of the Accomplishment
Instructions of Dassault Service Bulletin F50-515, dated October 12,
2010.

FAA AD Differences

    Note 1:  This AD differs from the MCAI and/or service
information as follows:
    (1) European Aviation Safety Agency (EASA) AD 2010-0208-E, dated
October 12, 2010, has a compliance time of ``before the next flight
after the effective date of this AD.'' This AD requires that the
actions be done within 7 days after the effective date of AD 2010-
24-08.
    (2) EASA AD 2010-0208-E, dated October 12, 2010, allows the
flightcrew to inspect the emergency brake system number 2 specified
in accordance with Dassault Service Bulletin F50-515, dated October
12, 2010. However, this AD requires the inspection to be performed
by certificated maintenance personnel.

Other FAA AD Provisions

    (j) The following provisions also apply to this AD:
    (1) Alternative Methods of Compliance (AMOCs): The Manager,
International Branch, ANM-116, Transport Airplane Directorate, FAA,
has the authority to approve AMOCs for this AD, if requested using
the procedures found in 14 CFR 39.19. In accordance with 14 CFR
39.19, send your request to your principal inspector or local Flight
Standards District Office, as appropriate. If sending information
directly to the International Branch, send it to Attn: Tom
Rodriguez, Aerospace Engineer, International Branch, ANM-116,
Transport Airplane Directorate, FAA, 1601 Lind Avenue, SW., Renton,
Washington 98057-3356; telephone<PHONE_NUMBER>; fax<PHONE_NUMBER>.
Before using any approved AMOC, notify your appropriate principal
inspector, or lacking a principal inspector, the manager of the
local flight standards district office/certificate holding district
office. The AMOC approval letter must specifically reference this
AD.
    (2) Airworthy Product: For any requirement in this AD to obtain
corrective actions from a manufacturer or other source, use these
actions if they are FAA-approved. Corrective actions are considered
FAA-approved if they are approved by the State of Design Authority
(or their delegated agent). You are required to assure the product
is airworthy before it is returned to service.

Related Information

    (k) Refer to MCAI EASA AD 2010-0208-E, dated October 12, 2010;
and Dassault Service Bulletin F50-515, dated October 12, 2010; for
related information.
    Issued in Renton, Washington, on February 7, 2011.

Kalene C. Yanamura,
Acting Manager, Transport Airplane Directorate, Aircraft Certification
Service.
[FR Doc. 2011-3532 Filed 2-15-11; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 79, Number 141 (Wednesday, July 23, 2014)]
[Notices]
[Pages 42846-42847]
[FR Doc No: 2014-17267]

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

SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Release No. 31160; 812-14249]

Stellus Capital Investment Corporation, et al.; Notice of
Application

July 17, 2014.
AGENCY:  Securities and Exchange Commission (``Commission'').

ACTION:  Notice of an application for an order under section 6(c) of
the Investment Company Act of 1940 (the ``Act'') for an exemption from
sections 18(a) and 61(a) of the Act.

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

    Applicants: Stellus Capital Investment Corporation (the
``Company''), Stellus Capital Management, LLC (the ``Investment
Adviser''), Stellus Capital SBIC GP, LLC (the ``General Partner''), and
Stellus Capital SBIC LP (``Stellus SBIC'').
SUMMARY: Summary of the Application: The Company requests an order to
permit it to adhere to a modified asset coverage requirement.

DATES: Filing Dates: The application was filed December 12, 2013, and
amended on April 2, 2014 and July 9, 2014.
    Hearing or Notification of Hearing: An order granting the
application will be issued unless the Commission orders a hearing.
Interested persons may request a hearing by writing to the Commission's
Secretary and serving applicants with a copy of the request, personally
or by mail. Hearing requests should be received by the Commission by
5:30 p.m. on August 11, 2014 and should be accompanied by proof of
service on the Applicants, in the form of an affidavit or, for lawyers,
a certificate of service. Hearing requests should state the nature of
the writer's interest, the reason for the request, and the issues
contested. Persons who wish to be notified of a hearing may request
notification by writing to the Commission's Secretary.

ADDRESSES: Secretary, U.S. Securities and Exchange Commission, 100 F
Street NE., Washington, DC 20549-1090. Applicants: Robert T. Ladd,
Stellus Capital Investment Corporation, 4400 Post Oak Parkway, Suite
2200, Houston, Texas 77027.

FOR FURTHER INFORMATION CONTACT: Aaron T. Gilbride, Attorney-Adviser,
at<PHONE_NUMBER>, or Melissa R. Harke, Branch Chief, at<PHONE_NUMBER>
(Division of Investment Management, Chief Counsel's Office).

SUPPLEMENTARY INFORMATION: The following is a summary of the
application. The complete application may be obtained via the
Commission's Web site by searching for the file number, or for an
applicant using the Company name box, at http://www.sec.gov/search/search.htm or by calling<PHONE_NUMBER>.

Applicants' Representations

    1. The Company, a Maryland corporation, is an externally managed,
non-diversified, closed-end management investment company that has
elected to be regulated as a business development company (``BDC'')
under the Act.\1\ The Company's investment objective is to maximize
total return to its stockholders in the form of current income and
capital appreciation by primarily investing in private middle-market
companies (typically with $5 million to $50 million of earnings before
interest, taxes, depreciation and amortization) through first lien,
second lien, unitranche and mezzanine debt financing and corresponding
equity investments. The Investment Adviser, a Delaware limited
liability company, is the investment adviser to the Company. The
Investment Adviser is registered under the Investment Advisers Act of
1940.
---------------------------------------------------------------------------

    \1\ Section 2(a)(48) defines a BDC to be any closed-end
investment company that operates for the purpose of making
investments in securities described in section 55(a)(1) through
55(a)(3) of the Act and makes available significant managerial
assistance with respect to the issuers of such securities.
---------------------------------------------------------------------------

    2. Stellus SBIC, a Delaware limited partnership, is a small
business investment company (``SBIC'') licensed by the Small Business
Administration (``SBA'') under the Small Business Investment Act of
1958 (``SBIA''). Stellus SBIC is excluded from the definition of
investment company by section 3(c)(7) of the Act. The Company currently
owns a 99 percent limited partnership interest in Stellus SBIC. The
General Partner, a Delaware limited liability company, is the general
partner of Stellus SBIC. The General Partner owns 1 percent of Stellus
SBIC in the form of a general partnership interest.

Applicants' Legal Analysis

    1. The Company requests an exemption pursuant to section 6(c) of
the Act from the provisions of sections 18(a) and 61(a) of the Act to
permit it to adhere to a modified asset coverage requirement with
respect to any direct or indirect wholly-owned subsidiary of the
Company that is licensed by the SBA to operate under the SBIA as a SBIC
and relies on section 3(c)(7) for an exemption from the definition of
``investment company'' under the 1940 Act (each, a ``SBIC
Subsidiary'').\2\ Applicants state that companies operating under the
SBIA, such as the SBIC Subsidiary, will be subject to the SBA's
substantial regulation of permissible leverage in their capital
structure.
---------------------------------------------------------------------------

    \2\ All existing entities that currently intend to rely on the
order are named as applicants. Any other existing or future entity
that may rely on the order in the future will comply with the terms
and condition of the order.
---------------------------------------------------------------------------

    2. Section 18(a) of the Act prohibits a registered closed-end
investment company from issuing any class of senior security or selling
any such security of which it is the issuer unless the company complies
with the asset coverage requirements set forth in that section. Section
61(a) of the Act makes section 18 applicable to BDCs, with certain
modifications. Section 18(k) exempts an investment company operating as
an SBIC from the asset coverage requirements for senior securities
representing indebtedness that are contained in section 18(a)(1)(A) and
(B).
    3. Applicants state that the Company may be required to comply with
the asset coverage requirements of section 18(a) (as modified by
section 61(a)) on a consolidated basis because the Company may be
deemed to be an indirect issuer of any class of senior security issued
by Stellus SBIC or another SBIC Subsidiary. Applicants state that
applying section 18(a) (as modified by section 61(a)) on a consolidated
basis generally would require that the Company treat as its own all
assets and any liabilities held directly either by itself, by Stellus
SBIC, or by another SBIC Subsidiary. Accordingly, the Company requests
an order under section 6(c) of the Act exempting the Company from the
provisions of section 18(a) (as modified by section 61(a)), such that
senior securities issued by each SBIC Subsidiary that would be excluded
from the SBIC Subsidiary's asset coverage ratio by section 18(k) if it
were itself a BDC would also be excluded from the Company's
consolidated asset coverage ratio.
    4. Section 6(c) of the Act, in relevant part, permits the
Commission to exempt any transaction or class of transactions from any
provision of the Act if and to the extent that such exemption is
necessary or appropriate in the public interest and consistent with the
protection of investors and the purposes fairly intended by the policy
and provisions of the Act. Applicants state that the requested relief
satisfies the section 6(c) standard. Applicants contend that, because
the SBIC

Subsidiary would be entitled to rely on section 18(k) if it were a BDC
itself, there is no policy reason to deny the benefit of that exemption
to the Company.

Applicants' Condition

    Applicants agree that any order granting the requested relief will
be subject to the following condition:
    The Company shall not issue or sell any senior security, and the
Company shall not cause or permit Stellus SBIC or any other SBIC
Subsidiary to issue or sell any senior security of which the Company,
Stellus SBIC or any other SBIC Subsidiary is the issuer except to the
extent permitted by section 18 (as modified for BDCs by section 61) of
the Act; provided that, immediately after the issuance or sale by any
of the Company, Stellus SBIC or any other SBIC Subsidiary of any such
senior security, the Company, individually and on a consolidated basis,
shall have the asset coverage required by section 18(a) of the Act (as
modified by section 61(a)). In determining whether the Company has the
asset coverage on a consolidated basis required by section 18(a) of the
Act (as modified by section 61(a)), any senior securities representing
indebtedness of an SBIC Subsidiary if that SBIC Subsidiary has issued
indebtedness that is held or guaranteed by the SBA shall not be
considered senior securities and, for purposes of the definition of
``asset coverage'' in section 18(h), shall be treated as indebtedness
not represented by senior securities.

    For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-17267 Filed 7-22-14; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 80, Number 2 (Monday, January 5, 2015)]
[Notices]
[Pages 244-245]
[FR Doc No: 2014-30850]

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

DEPARTMENT OF HOMELAND SECURITY

Coast Guard

[Docket No. USCG-2014-1061]

Merchant Marine Personnel Advisory Committee

AGENCY: Coast Guard, DHS.

ACTION: Notice of Federal Advisory Committee Working Group Meeting.

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

SUMMARY: A working group of the Merchant Marine Personnel Advisory
Committee will meet to work on and review Task Statement 30, concerning
evaluating military education, training, and assessment for the
International Convention on Standards of Training, Certification and
Watchkeeping for Seafarers, 1978 and U.S. Coast Guard Certifications.
This meeting will be open to the public.

DATES: The Merchant Marine Personnel Advisory Committee working group
will meet on January 28 and 29, 2015, from 8 a.m. until 4 p.m. Please
note that these meetings may adjourn early if all business is finished.
Written comments for distribution to working group members and
inclusion on the Merchant Marine Personnel Advisory Committee's Web
site must be submitted by January 14, 2015.

ADDRESSES: The working group will meet in Room A129 of the Maritime
Institute of Technology and Graduate Studies, 692 Maritime Boulevard,
Linthicum Heights, MD 21090. For further information on the location of
the Maritime Institute of Technology and Graduate Studies or services
for individuals with disabilities or to request special assistance,
please contact Mr. Brian Senft at<PHONE_NUMBER> or by email at
<EMAIL_ADDRESS>    To facilitate public participation, we are inviting public comment
on the issues to be considered by the working group, as listed in the
``Agenda'' section below. Written comments must be identified by Docket
No. USCG-2014-1061, and submitted by one of the following methods:
     Federal eRulemaking Portal: http://www.regulations.gov.
Follow the instructions for submitting comments (preferred method to
avoid delays in processing).
     Fax:<PHONE_NUMBER>.
     Mail: Docket Management Facility (M-30), U.S. Department
of Transportation, West Building Ground Floor, Room W12-140, 1200 New
Jersey Avenue SE., Washington, DC 20590-0001.
     Hand Delivery: Same as mail address above, between 9 a.m.
and 5 p.m., Monday through Friday, except Federal Holidays. The
telephone number for the Docket Management Facility is<PHONE_NUMBER>.
    Instructions: All submissions received must include the words
``Department of Homeland Security'' and the docket number for this
action. Comments received will be posted without alteration at http://www.regulations.gov, including any personal information provided. You
may review a Privacy Act notice regarding our public dockets in the
January 17, 2008, issue of the Federal Register (73 FR 3316).
    Docket: For access to the docket to read documents or comments
related to this notice, go to http://www.regulations.gov, enter the
docket number in the ``Search'' field and follow instructions on the
Web site.
    A public oral comment period will be held each day during the
working group meeting and speakers are requested to limit their
comments to 3 minutes. Please note that the public oral comment periods
may end before the prescribed ending times following the last call for
comments. Contact Mr. Davis Breyer as indicated below no later than
January 21, 2015 to register as a speaker.
    This notice may be viewed in our online docket, USCG-2014-1061, at
http://www.regulations.gov.

FOR FURTHER INFORMATION CONTACT: Mr. Davis Breyer, Alternate Designated
Federal Officer of the Merchant Marine Personnel Advisory Committee,
telephone<PHONE_NUMBER> or at<EMAIL_ADDRESS>If you have any
questions on viewing or submitting material to the docket, call Cheryl
Collins, Program Manager, Docket Operations, telephone<PHONE_NUMBER> or
1-800-647-5527.

SUPPLEMENTARY INFORMATION: Notice of this meeting is given under the
Federal Advisory Committee Act, title 5 United States Code Appendix.
    The Merchant Marine Personnel Advisory Committee was established
under the Secretary's authority under section 871 of the Homeland
Security Act of 2002, title 6, United States Code, section 451, and
chartered under the provisions of the Federal Advisory Committee Act.
The Committee acts solely in an advisory capacity to the Secretary of
the Department of Homeland Security through the Commandant of the Coast
Guard and the Director of Commercial Regulations and Standards on
matters relating to personnel in the U.S. merchant marine, including
but not limited to training, qualifications, certification,
documentation, and fitness standards. The Committee will advise,
consult with, and make recommendations reflecting its independent
judgment to the Secretary.
    A copy of all meeting documentation, including the Task Statement,
is available at https://homeport.uscg.mil/ by using these key strokes:
Missions; Port and Waterways; Safety Advisory Committees; MERPAC; and
then use the announcements key. Alternatively, you may contact Mr.
Breyer as noted in the FOR FURTHER INFORMATION CONTACT section above.

Agenda

    The agenda for the January 28, 2015, working group meeting is as
follows:
    (1) Comment period for all attendees to discuss information they
have that might assist the working group and the Merchant Marine
Personnel Advisory Committee in meeting its objectives for Task
Statement 30, concerning evaluating military education, training, and
assessment for the International Convention on Standards of Training,
Certification and Watchkeeping for

Seafarers, 1978 and U.S. Coast Guard Certifications;
    (2) The working group will review and develop proposed
recommendations for Task Statement 30; and
    (3) Adjournment of meeting.
    The agenda for the January 29, 2015, working group meeting is as
follows:
    (1) The working group will review and develop proposed
recommendations concerning evaluating military education, training, and
assessment for the International Convention on Standards of Training,
Certification and Watchkeeping for Seafarers, 1978 and U.S. Coast Guard
Certifications;
    (2) Public comment period;
    (3) The working group will discuss and finalize proposed
recommendations for the full committee to consider with regards to Task
Statement 30, concerning evaluating military education, training, and
assessment for the International Convention on Standards of Training,
Certification and Watchkeeping for Seafarers, 1978 and U.S. Coast Guard
Certifications; and
    (4) Adjournment of meeting.

    Dated: December 29, 2014.
J.G. Lantz,
Director of Commercial Regulations and Standards.
[FR Doc. 2014-30850 Filed 1-2-15; 8:45 am]
BILLING CODE 9110-04-P


[Federal Register Volume 80, Number 251 (Thursday, December 31, 2015)]
[Notices]
[Pages 81817-81818]
[FR Doc No: 2015-32916]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings #1

    Take notice that the Commission received the following electric
corporate filings:

    Docket Numbers: EC16-55-000
    Applicants: Central Antelope Dry Ranch C LLC
    Description: Application for Authorization Under Section 203 of the
Federal Power Act for the Disposition of Jurisdictional Facilities,
Request for Expedited Consideration and Confidential Treatment of
Central Antelope Dry Ranch C LLC.
    Filed Date: 12/23/15
    Accession Number: 20151223-5244
    Comments Due: 5 p.m. ET 1/13/16

    Docket Numbers: EC16-56-000
    Applicants: Entergy Louisiana, LLC
    Description: Application of Entergy Louisiana, LLC, for transaction
approval under FPA Section 203.
    Filed Date: 12/23/15
    Accession Number: 20151223-5253
    Comments Due: 5 p.m. ET 1/13/16

    Docket Numbers: EC16-57-000
    Applicants: PacifiCorp
    Description: Application under Section 203 for Approval of
Acquisition of Jurisdictional Assets of PacifiCorp.
    Filed Date: 12/23/15
    Accession Number: 20151223-5254
    Comments Due: 5 p.m. ET 1/13/16

    Take notice that the Commission received the following exempt
wholesale generator filings:

    Docket Numbers: EG16-30-000
    Applicants: Goal Line L.P.
    Description: Notice of Material Change of Facts and Self-
Recertification of Exempt Wholesale Generator Status of Goal Line L.P.
    Filed Date: 12/23/15
    Accession Number: 20151223-5231
    Comments Due: 5 p.m. ET 1/13/16

    Docket Numbers: EG16-31-000
    Applicants: Voyager Wind I, LLC
    Description: Notice of Self-Certification of Exempt Wholesale
Generator Status of Voyager Wind I, LLC.
    Filed Date: 12/23/15
    Accession Number: 20151223-5233
    Comments Due: 5 p.m. ET 1/13/16

    Take notice that the Commission received the following electric
rate filings:

    Docket Numbers: ER15-861-007
    Applicants: California Independent System Operator Corporation
    Description: Compliance filing: Limited Tariff Waiver Petition:
Modify ABC Effective Date & Short Comment Period to be effective N/A.
    Filed Date: 12/23/15
    Accession Number: 20151223-5237
    Comments Due: 5 p.m. ET 12/30/15

    Docket Numbers: ER16-634-000
    Applicants: AltaGas Pomona Energy Inc.
    Description: Baseline eTariff Filing: AltaGas Pomona Energy Inc.
MBR Tariff to be effective 1/1/2016.
    Filed Date: 12/24/15
    Accession Number: 20151224-5000
    Comments Due: 5 p.m. ET 1/14/16

    Docket Numbers: ER16-635-000
    Applicants: Entergy Louisiana, LLC
    Description: Sec.  205(d) Rate Filing: ELL-SRMPA 6th Extension of
Interim Agreement to be effective 1/1/2016.
    Filed Date: 12/24/15
    Accession Number: 20151224-5034
    Comments Due: 5 p.m. ET 1/14/16

    Take notice that the Commission received the following electric
securities filings:

    Docket Numbers: ES16-16-000
    Applicants: PJM Settlement, Inc.
    Description: Application of PJM Settlement, Inc. under Section 204
of the Federal Power Act for an Order Authorizing Issuances of
Securities and Approving Guaranty.
    Filed Date: 12/23/15
    Accession Number: 20151223-5242
    Comments Due: 5 p.m. ET 1/13/16

    Docket Numbers: ES16-17-000
    Applicants: PJM Interconnection, L.L.C.
    Description: Application of PJM Interconnection, L.L.C. Under
Section 204 of the Federal Power Act for an Order Authorizing the
Issuance of Securities.
    Filed Date: 12/23/15
    Accession Number: 20151223-5243

    Comments Due: 5 p.m. ET 1/13/16

    The filings are accessible in the Commission's eLibrary system by
clicking on the links or querying the docket number.
    Any person desiring to intervene or protest in any of the above
proceedings must file in accordance with Rules 211 and 214 of the
Commission's Regulations (18 CFR 385.211 and 385.214) on or before 5:00
p.m. Eastern time on the specified comment date. Protests may be
considered, but intervention is necessary to become a party to the
proceeding.
    eFiling is encouraged. More detailed information relating to filing
requirements, interventions, protests, service, and qualifying
facilities filings can be found at: http://www.ferc.gov/docs-filing/efiling/filing-req.pdf. For other information, call<PHONE_NUMBER>
(toll free). For TTY, call<PHONE_NUMBER>.

    Dated: December 24, 2015.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2015-32916 Filed 12-30-15; 8:45 am]
BILLING CODE 6717-01-P