[Federal Register Volume 87, Number 114 (Tuesday, June 14, 2022)]
[Notices]
[Pages 36018-36023]
[FR Doc No: 2022-12732]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-95069; File No. SR-NASDAQ-2022-017]

Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Order
Approving Proposed Rule Change, as Modified by Amendment No. 1, To
Modify Equity 4, Rule 4120 To Add Categories of Regulatory and
Operational Halts, To Reorganize the Remaining Text of the Rule, and To
Make Conforming Changes to Related Rules

June 8, 2022.

I. Introduction

    On February 22, 2022, The Nasdaq Stock Market LLC (``Nasdaq'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission''), pursuant to Section 19(b)(1) of the Securities
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a
proposed rule change to modify Equity 4, Rule 4120 to add categories of
regulatory and operational halts, to reorganize the remaining text of
the rule, and to make conforming changes to related rules. The proposed
rule change was published for comment in the Federal Register on March
11, 2022.\3\ On April 21, 2022, pursuant to Section 19(b)(2) of the
Act,\4\ the Commission designated a longer period within which to
approve the proposed rule change, disapprove the proposed rule change,
or institute proceedings to determine whether to disapprove the
proposed rule change.\5\ On April 29, 2022, the Exchange filed
Amendment No. 1 to the proposed rule change, which amended and
superseded the

proposed rule change as originally filed. Amendment No. 1 was published
for comment in the Federal Register on May 9, 2022.\6\ This order
approves the proposed rule change, as modified by Amendment No. 1.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 94370 (March 7,
2022), 87 FR 14071.
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 94778, 87 FR 25069
(April 27, 2022). The Commission designated June 9, 2022 as the date
by which the Commission shall approve or disapprove, or institute
proceedings to determine whether to disapprove, the proposed rule
change.
    \6\ See Securities Exchange Act Release No. 94838 (May 3, 2022),
87 FR 27683 (``Amendment No. 1''). The Commission received one
comment letter on the proposed rule change, which does not relate to
the substance of the proposed rule change. The comment letter is
available at https://www.sec.gov/comments/sr-nasdaq-2022-017/srnasdaq2022017-289449.htm.
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II. Description of the Proposal

    On May 28, 2021, the Commission approved the Fiftieth Amendment to
the Joint Self-Regulatory Organization Plan (``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 (``Amended UTP
Plan''),\7\ which revised the Plan's provisions that governed
Regulatory Halts \8\ and Operational Halts.\9\ In particular, the
Amended UTP Plan sets forth the circumstances in which a Primary
Listing Market \10\ may declare a Regulatory Halt for any security for
which it is the Primary Listing Market, and the factors a Primary
Listing Market will consider when determining whether to declare a
Regulatory Halt.\11\ The Amended UTP Plan also sets forth the process
for initiating a Regulatory Halt, including the start time of a
Regulatory Halt and the dissemination of notice of a Regulatory
Halt,\12\ as well as the process for resuming trading after a
Regulatory Halt other than a SIP Halt, including the Primary Listing
Market's determination of a resumption and the resumption time.\13\ In
addition, the Amended UTP Plan sets forth a specific process for
resumption of trading after a SIP Halt, including the Primary Listing
Market's determination of a resumption and the SIP Halt Resume
Time.\14\ Finally, the Amended UTP Plan requires a Plan participant to
notify the Processor where it has declared an Operational Halt.\15\
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    \7\ See Securities Exchange Act Release No. 92071, 86 FR 29846
(June 3, 2021) (S7-24-89) (``Fiftieth Amendment Order'').
    \8\ A ``Regulatory Halt'' is ``a halt declared by the Primary
Listing Market in trading in one or more securities on all Trading
Centers for regulatory purposes, including for the dissemination of
material news, news pending, suspensions, or where otherwise
necessary to maintain a fair and orderly market. A Regulatory Halt
includes a trading pause triggered by Limit Up Limit Down, a halt
based on Extraordinary Market Activity, a trading halt triggered by
a Market-Wide Circuit Breaker, and a SIP Halt.'' See Section X.A.10
of the Amended UTP Plan.
    \9\ An ``Operational Halt'' is ``a halt in trading in one or
more securities only on a Market declared by such Participant and is
not a Regulatory Halt.'' See Section X.A.7 of the Amended UTP Plan.
    \10\ The ``Primary Listing Market'' is ``the national securities
exchange on which an Eligible Security is listed. If an Eligible
Security is listed on more than one national securities exchange,
Primary Listing Market means the exchange on which the security has
been listed the longest.'' See Section X.A.8 of the Amended UTP
Plan.
    \11\ See Section X.C of the Amended UTP Plan. See also Section
X.G of the Amended UTP Plan (requiring a Plan participant to halt
trading for any security traded on its market if the Primary Listing
Market declares a Regulatory Halt for the security).
    \12\ See Section X.D of the Amended UTP Plan. See also Section
X.H of the Amended UTP Plan (setting forth further requirements for
notifications of the initiation and lifting of Regulatory Halts).
    \13\ See Section X.E of the Amended UTP Plan.
    \14\ See Section X.F of the Amended UTP Plan.
    \15\ See Section X.B of the Amended UTP Plan.
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    The Exchange proposes to amend Rule 4120 to incorporate provisions
of the Amended UTP Plan, including the provisions that were approved as
part of the Fiftieth Amendment to the Plan, and to reorganize certain
existing text in Rule 4120 without substantive change other than to
conform to the language of the Amended UTP Plan. The Exchange also
proposes to add new text in Rule 4120 pursuant to, and to implement,
the provisions of the Amended UTP Plan. Finally, the Exchange proposes
to make conforming changes throughout its rules to reflect Rule 4120,
as amended by this proposal.
    Proposed Rule 4120(a) would set forth the definitions for certain
terms that are used in the rule. In particular, proposed Rule 4120(a)
would incorporate certain definitions from the Amended UTP Plan \16\
and Commission rules,\17\ and would include certain relocated
definitions that currently exist in Rule 4120.\18\ The Exchange also
proposes to incorporate the definition of Regular Trading Hours from
the Amended UTP Plan, which refers to the definition in Rule 600 of
Regulation NMS (i.e., between 9:30 a.m. and 4:00 p.m. Eastern
Time).\19\ This reflects a change from the Exchange's current
definition of Regular Market Session, which means the trading session
from 9:30 a.m. until 4:00 p.m. or 4:15 p.m.\20\ According to the
Exchange, no securities currently traded on the Exchange close at 4:15
p.m. and therefore the alternative closing time reflected in the
current definition of Regular Market Session is unnecessary.\21\ In
connection with the proposed definition of Regular Trading Hours, the
Exchange proposes to define Post-Market Session to mean the trading
session that begins after Regular Trading Hours at approximately 4:00
p.m., and that continues until 8:00 p.m.\22\ According to the Exchange,
this proposed definition will reflect that all securities traded on the
Exchange commence their closing process at 4:00 p.m.\23\ The Exchange
also states that the word ``approximately'' in the proposed definition
reflects that the Exchange's closing cross preceding the Post-Market
Session at 4:00 p.m. is not instantaneous.\24\ Finally, the Exchange
proposes to add definitions for the terms SIP \25\ and SIP Plan.\26\
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    \16\ Specifically, the Exchange proposes to incorporate the
definitions for the following terms from the Amended UTP Plan:
Extraordinary Market Activity, Material SIP Latency, Operating
Committee, Operational Halt, Primary Listing Market, Processor,
Regulatory Halt, SIP Halt, SIP Halt Resume Time, and SIP Outage. See
Sections X.A.1, X.A.5, IV.A, X.A.7, X.A.8, III.Q, X.A.10, X.A.11,
X.A.12, and X.A.13 of the Amended UTP Plan, respectively.
    \17\ Specifically, the Exchange proposes to incorporate the
definition of Trading Center from Rule 600(b)(95) of Regulation NMS.
See 17 CFR 242.600(b)(95).
    \18\ Specifically, the Exchange proposes to relocate the
following definitions within Rule 4120 without substantive change:
Derivative Securities Product, IPO, Pre-Market Session, and Required
Value.
    \19\ Specifically, Regulation NMS defines Regular Trading Hours
as the time between 9:30 a.m. and 4:00 p.m. Eastern Time, or such
other time as is set forth in the procedures established pursuant to
17 CFR 242.605(a)(2). See 17 CFR 242.600(b)(77).
    \20\ The Exchange proposes to make conforming changes to Rules
5710 and 5711 to replace the term ``Regular Market Session'' with
the term ``Regular Trading Hours.''
    \21\ See Amendment No. 1, supra note 6, at 27694.
    \22\ Currently, Post-Market Session means the trading session
that begins at 4:00 p.m. or 4:15 p.m., and that continues until 8:00
p.m. See current Rule 4120(b)(4)(C).
    \23\ See Amendment No. 1, supra note 6, at 27686, 27689.
    \24\ See id. at 27689.
    \25\ The Exchange proposes to define SIP to have the same
meaning as the term Processor in the Amended UTP Plan or in the
Consolidated Tape Association Plan, as applicable. See proposed Rule
4120(a)(10).
    \26\ The Exchange proposes to define SIP Plan to mean the
national market system plan governing the SIP. See proposed Rule
4120(a)(17).
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    Proposed Rule 4120(b)(1) would set forth three categories of
Regulatory Halts: (a) those provided by the Amended UTP Plan; \27\ (b)
discretionary Regulatory Halts; and (3) mandatory Regulatory Halts.
With respect to discretionary Regulatory Halts, the Exchange proposes
to relocate, without substantive change other than to conform to the
language of the Amended UTP Plan, certain existing provisions of Rule
4120 under which the Exchange may halt trading.\28\ The

Exchange also proposes to incorporate the provision of the Amended UTP
Plan that permits Regulatory Halts in connection with a national,
regional, or localized disruption.\29\ In addition, the Exchange
proposes to delete existing rule text that describes a halt type that
is obsolete \30\ and halt types that are superseded by the new proposed
text within Rule 4120.\31\
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    \27\ The Amended UTP Plan provides that a Primary Listing Market
may declare a Regulatory Halt in trading for any security for which
it is the Primary Listing Market: as provided for in the rules of
the Primary Listing Market; if it determines there is a SIP Outage,
Material SIP Latency, or Extraordinary Market Activity; or in the
event of national, regional, or localized disruption that
necessitates a Regulatory Halt to maintain a fair and orderly
market. See Section X.C.1 of the Amended UTP Plan.
    \28\ Specifically, the Exchange proposes to relocate rule
provisions relating to the following types of halts: request of
certain information from the issuer (with revisions to conform to
the language of the Amended UTP Plan regarding Regulatory Halts to
maintain a fair and orderly market and regarding the considerations
of a Primary Listing Market for initiating a Regulatory Halt);
dissemination of material news; in connection with an IPO; and halt
of index warrants, Derivative Securities Products, American
Depositary Receipts, and other securities listed on the Exchange
under specified conditions. See proposed Rule 4120(b)(1)(B). Rule
4120 currently permits the Exchange to halt trading in a security
listed on the Exchange, if the security is listed on another
national securities exchange and that exchange halts the security
for regulatory reasons. The Exchange now proposes to remove the
reference to another national securities exchange because under the
Amended UTP Plan, if the Nasdaq-listed security is also listed on
another national securities exchange, only the Primary Listing
Market may declare a Regulatory Halt, and the Exchange would be
required to halt trading in a security if its Primary Listing Market
declares a Regulatory Halt. See proposed Rule 4120(b)(1)(B)(vi).
    \29\ See Section X.C.1(c) of the Amended UTP Plan.
    \30\ The Exchange proposes to delete current Rule 4120(a)(11),
which has been superseded by the LULD Plan.
    \31\ The Exchange proposes to delete current Rule 4120(a)(6),
which would be superseded by the provisions of the Amended UTP Plan
relating to Regulatory Halts due to Extraordinary Market Activity
(as proposed to be incorporated within proposed Rule 4120), as well
as current Rule 4120(a)(3)(A), which will be superseded by the
Exchange's proposed rules governing Operational Halts.
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    With respect to mandatory Regulatory Halts, the Exchange proposes
to relocate, without substantive change, certain existing provisions of
Rule 4120 under which the Exchange is required to halt trading.\32\ The
Exchange also proposes to make clear that a trading halt due to
extraordinary market volatility (i.e., the market-wide circuit breaker)
is a mandatory Regulatory Halt.\33\
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    \32\ Specifically, the Exchange proposes to relocate rule
provisions relating to the following types of halts: Derivative
Securities Products when certain information is not disseminated to
all market participants at the same time; the Limit Up-Limit Down
(``LULD'') mechanism; and Equity Investment Tracking Stocks and
Subscription Receipts under specified conditions. See proposed Rule
4120(b)(1)(C).
    \33\ See proposed Rule 4120(b)(1)(C)(iii).
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    Proposed Rule 4120(b)(2) would set forth the procedures for
initiating a Regulatory Halt, which would be substantively identical to
the analogous provisions in the Amended UTP Plan that were approved as
part of the Fiftieth Amendment. Consistent with the Amended UTP
Plan,\34\ proposed Rule 4120(b)(2) would govern the start time of a
Regulatory Halt, the notification of a Regulatory Halt, retroactive
halts, consultations and considerations prior to declaring a Regulatory
Halt, and evaluations after the declaration of a Regulatory Halt.\35\
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    \34\ See Sections X.C.2, X.D, and X.H of the Amended UTP Plan.
    \35\ The Exchange proposes to delete current Rule 4120(c)(4),
which describes the start time of a trading halt and the manner in
which the Exchange disseminates notice of the commencement of a
trading halt, and current Rule 4120(c)(6)(A), which describes
trading halts due to extraordinary market activity. These rules
would be replaced by the proposed rules that incorporate provisions
of the Amended UTP Plan that govern the start time and notification
of trading halts, including trading halts due to Extraordinary
Market Activity.
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    Proposed Rule 4120(b)(3) would govern the scenario where another
exchange initiates a Regulatory Halt. Consistent with the Amended UTP
Plan,\36\ proposed Rule 4120(b)(3) would provide that the Exchange
would halt trading for a security when the Primary Listing Market
declares a Regulatory Halt for the security.\37\ The Exchange also
proposes to relocate, without substantive change, existing provisions
of Rule 4120 that govern halts for Derivative Securities Products that
are traded on the Exchange pursuant to unlisted trading privileges.\38\
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    \36\ See Section X.G of the Amended UTP Plan.
    \37\ The Exchange proposes to delete current Rule 4120(a)(2),
which permits the Exchange to halt trading in a security listed on
another exchange during a trading halt imposed by such exchange to
permit the dissemination of material news.
    \38\ See proposed Rule 4120(b)(3)(A)(ii).
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    Proposed Rule 4120(b)(4) would set forth the process for the
resumption of trading after a Regulatory Halt. With respect to
Regulatory Halts other than IPO or SIP Halts, proposed Rule
4120(b)(4)(A) would provide for the timing and notification of
resumption where the Exchange is the Primary Listing Market, consistent
with the Amended UTP Plan.\39\ The Exchange also proposes to relocate,
without substantive change, existing provisions of Rule 4120 that
govern the process for the resumption of trading following Regulatory
Halts other than IPO or SIP halts, including specific provisions that
govern the process for the resumption of trading following LULD
halts.\40\ Moreover, consistent with the Amended UTP Plan,\41\ proposed
Rule 4120(b)(4)(A) would provide for the timing of a resumption where
the Exchange is not the Primary Listing Market.\42\
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    \39\ See Sections X.E.1 and X.H of the Amended UTP Plan. The
Exchange proposes to delete current Rule 4120(c)(5), which describes
the resumption time following a trading halt and the manner in which
the Exchange disseminates notice of the resumption, and current Rule
4120(c)(6)(B), which describes resumptions following trading halts
due to extraordinary market activity. These rules would be replaced
by proposed rules that incorporate the provisions of the Amended UTP
Plan that govern the resumption of trading following trading halts,
including trading halts due to Extraordinary Market Activity.
    \40\ See proposed Rule 4120(b)(4)(A)(i)a-e. The Exchange also
proposes to clarify that the resumption process in proposed Rule
4120(b)(4)(A)(i)a-e applies to all types of Regulatory Halts other
than SIP Halts or IPO Halts. See Amendment No. 1, supra note 6, at
27691. Similarly, the Exchange proposes to amend Rule 4753(b) to
specify that the halt cross process in Rule 4753 applies generally
to Nasdaq-listed securities that are the subject of a trading halt
or pause under Rule 4120.
    \41\ See Section X.E.2 of the Amended UTP Plan.
    \42\ See proposed Rule 4120(b)(4)(A)(ii).
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    Proposed Rule 4120(b)(4)(B) would set forth the process for the
resumption of trading after a SIP Halt. Consistent with the Amended UTP
Plan,\43\ proposed Rule 4120(b)(4)(B) would set forth the
considerations for the Exchange in determining the SIP Halt Resume
Time, and the Exchange's ability to delay the SIP Halt Resume Time or
stagger the SIP Halt Resume Time for multiple symbols. Also consistent
with the Amended UTP Plan,\44\ the Exchange would terminate a SIP Halt
with a notification that specifies a SIP Halt Resume Time.\45\ As
required by the Amended UTP Plan,\46\ the Exchange proposes to provide
a minimum five-minute notice of a SIP Halt Resume Time, during which
period (``Display Only Period'') market participants may enter quotes
and orders in the affected securities.\47\ Also as required by the
Amended UTP Plan,\48\ the Exchange proposes to provide that, during
Regular Trading Hours, the last SIP Halt Resume Time would be 20
minutes before the end of Regular Trading Hours (e.g., 3:40 p.m.
ET).\49\ The Exchange states that 20 minutes before the end of Regular
Trading Hours is the latest time that the

Exchange believes that it would be able to conduct an orderly halt
cross process and without impacting the closing cross process.\50\
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    \43\ See Section X.F of the Amended UTP Plan.
    \44\ See id.
    \45\ See proposed Rule 4120(b)(4)(B)(i)b.
    \46\ See Section X.F.2 of the Amended UTP Plan (stating that the
Primary Listing Market ``shall provide a minimum notice of a SIP
Halt Resume Time, as specified by the rules of the Primary Listing
Market, during which period market participants may enter quotes and
orders in affected securities'').
    \47\ See proposed Rule 4120(b)(4)(B)(i)b.
    \48\ See Section X.F.2 of the Amended UTP Plan (stating that
``[d]uring Regular Trading Hours, the last SIP Halt Resume Time
before the end of Regular Trading Hours shall be an amount of time
as specified by the rules of the Primary Listing Market'').
    \49\ See proposed Rule 4120(b)(4)(B)(i)b. If trading has not
resumed by this time, the Exchange would establish its closing price
in the halted securities using its contingency closing process in
Rule 4754(b)(7). See Amendment No. 1, supra note 6, at 27692.
    \50\ See Amendment No. 1, supra note 6, at 27692.
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    For a SIP Halt initiated by the Exchange, the Exchange also
proposes to use the same reopening process as for non-IPO and non-LULD
Regulatory Halts, except that the Display Only Period will be a minimum
of five minutes, and may be extended at the discretion of the Exchange
if it believes that trading will not resume in a fair and orderly
manner.\51\ Furthermore, as required by the Amended UTP Plan,\52\ the
Exchange proposes that, for a SIP Halt initiated by the Exchange, if
during Regular Trading Hours, the Exchange does not resume trading in a
security for which it is the Primary Listing Market within 10 minutes
after the SIP Halt Resume Time, then other markets may resume trading
in that security.\53\ The Exchange states that the proposed 10-minute
time period corresponds to a 10-minute time period set forth in the
LULD Plan, after which the Processor may update LULD price bands for
paused securities if the primary listing market for such security is
unable to reopen trading following a trading pause due to a systems or
technology issue.\54\
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    \51\ See proposed Rule 4120(b)(4)(B)(i)c. See also Section X.F
of the Amended UTP Plan (stating that the Primary Listing Market
``retains discretion to delay the SIP Halt Resume Time if it
believes trading will not resume in a fair and orderly manner'').
    \52\ See Section X.F.3 of the Amended UTP Plan (stating that
``[d]uring Regular Trading Hours, if the Primary Listing Market does
not open a security within the amount of time as specified by the
rules of the Primary Listing Market after the SIP Halt Resume Time,
a Participant may resume trading in that security'').
    \53\ See proposed Rule 4120(b)(4)(B)(i)d.
    \54\ See Amendment No. 1, supra note 6, at 27692.
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    With respect to a SIP Halt initiated by another exchange that is
the Primary Listing Market, during Regular Trading Hours, the Exchange
would resume trading after trading has resumed on the Primary Listing
Market or notice has been received from the Primary Listing Market that
trading may resume.\55\ Consistent with the Amended UTP Plan,\56\
during Regular Trading Hours, if the Primary Listing Market does not
open a security within the amount of time specified by the rules of the
Primary Listing Market after the SIP Halt Resume Time, the Exchange may
resume trading in that security; and outside Regular Trading Hours, the
Exchange may resume trading immediately after the SIP Halt Resume
Time.\57\
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    \55\ See proposed Rule 4120(b)(4)(B)(ii).
    \56\ See Section X.F.3 of the Amended UTP Plan.
    \57\ See proposed Rule 4120(b)(4)(B)(ii).
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    The Exchange proposes to relocate, without substantive change, the
existing provisions of Rule 4120 that govern the process for resumption
of trading following an IPO halt.\58\
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    \58\ See proposed Rule 4120(b)(4)(C).
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    The Exchange proposes to adopt Rule 4120(c) to govern Operational
Halts on the Exchange. Consistent with current Rule 4120, proposed Rule
4120(c)(1) would allow the Exchange to declare an Operational Halt in a
security listed on the Exchange if the Primary Listing Market imposes
an Operational Halt in a security that is a derivative or component of
the security listed on the Exchange. Proposed Rule 4120(c)(1) would
also allow the Exchange to declare an Operational Halt for a security
if the Exchange itself is experiencing extraordinary market activity or
when it is otherwise necessary to maintain a fair and orderly market or
in the public interest. Consistent with the Amended UTP Plan,\59\
proposed Rule 4120(c)(2) would require the Exchange to notify the
Processor if it has concerns about its ability to collect and transmit
quotation and transactions information, or where it has declared an
Operational Halt or suspension of trading.
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    \59\ See Section X.B of the Amended UTP Plan.
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    Under proposed Rule 4120(c)(3), the Exchange may resume trading
following an Operational Halt when it determines that trading may
resume on its market in a fair and orderly manner and in accordance
with its rules.\60\ As proposed, when the Exchange is the Primary
Listing Market, the resumption of trading after an Operational Halt
would follow the same reopening process as for a non-IPO and non-LULD
Regulatory Halt.\61\ However, the Exchange would be able to determine
to resume trading without a halt cross if it determines that such
action is in the best interests of the market.\62\ According to the
Exchange, in certain circumstances, a halt cross following an
Operational Halt, which only applies to the Exchange, may be disruptive
or result in trade-throughs.\63\ The Exchange also states that another
exchange already has the flexibility to reopen trading without an
auction following an Operational Halt.\64\ As proposed, when the
Exchange is not the Primary Listing Market, but halted trading based on
an Operational Halt initiated by the Primary Listing Market, the
Exchange would be able to resume trading once it has determined that
trading may be resumed in a fair and orderly manner.\65\
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    \60\ As proposed, trading in a security subject to an
Operational Halt would resume at the time specified by the Exchange
in a notice disseminated in the same manner as a notice initiating a
Regulatory Halt. See proposed Rule 4120(c)(3)(C).
    \61\ See proposed Rule 4120(c)(3)(A).
    \62\ See id. For any Operational Halt for which a halt cross
will not occur, consistent with current Rule 4120, orders entered
during the halt will not be accepted, unless subject to instructions
that the order will be directed to another exchange as described in
Rule 4758. See proposed Rule 4120(c)(3)(B). The Exchange also
proposes to make conforming changes to Rule 4753(b) to provide that,
for Nasdaq-listed securities that are the subject of a trading halt
or pause pursuant to Rule 4120, market hours trading will commence
when the Exchange releases the security, in the case of a security
for which the Exchange determines not to hold a halt cross.
    \63\ See Amendment No. 1, supra note 6, at 27693.
    \64\ See id.
    \65\ See proposed Rule 4120(c)(3)(A).
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    Finally, the Exchange proposes to make non-substantive and
conforming changes throughout its rules. Specifically, the Exchange
proposes update its rules that currently contain cross-citations to
various provisions of Rule 4120 to reflect the citations for these same
provisions in proposed Rule 4120.\66\ The Exchange also proposes to
remove references to the obsolete Intermarket Trading System \67\ and
to update references to the obsolete circuit breaker in current Rule
4120(a)(11) with references to the LULD mechanism.\68\ In addition, the
Exchange proposes to remove rule text relating to the applicability of
Rule 4120 to dually-listed securities, because the Amended UTP Plan
defines the Primary Listing Market for a dually-listed security and
sets forth the role of the Primary Listing Market in trading halts.\69\
Moreover, the Exchange proposes to remove rule text relating to
Exchange notification of material news by issuers, which is already
covered elsewhere in the Exchange's rules.\70\
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    \66\ See proposed changes to Rule 4702, Rule 4753, Rule 4754,
IM-5315-2, IM-5405-1, IM-5505-1, and Rule 5711.
    \67\ See proposed changes to IM-5220.
    \68\ See proposed changes to Rule 5711.
    \69\ See proposed changes to IM-5220.
    \70\ See current Rule 4120(c)(1) and (2).
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III. Discussion and Commission Findings

    The Commission believes 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 that are applicable to a national
securities exchange. 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,\71\ 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
facilitating transactions in securities, to remove impediments to and
perfect the mechanism of a free and open market and a national market
system and, in general, to protect investors and the public interest.
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    \71\ 15 U.S.C. 78f(b)(5).
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    As described above, the Exchange proposes to amend Rule 4120 to
incorporate provisions of the Amended UTP Plan, including the
provisions that were approved as part of the Fiftieth Amendment to the
Plan; reorganize certain existing text in Rule 4120 without substantive
change, other than to conform to the language of the Amended UTP Plan;
add new text in Rule 4120 pursuant to the provisions of the Amended UTP
Plan; and make conforming changes throughout its rules to reflect Rule
4120, as amended by this proposal.
    In approving the Fiftieth Amendment to the Plan, the Commission
stated that the amendment established a clear and uniform approach with
respect to trading halts under various defined circumstances.\72\ In
particular, the Commission stated that the Fiftieth Amendment provided
uniform rules that govern how Plan participants will address, among
other things, the initiation, implementation, and communication of
trading halts, as well as the resumption of trading after a trading
halt, thereby clarifying the procedures to be followed and the
standards to be applied, improving coordination and certainty among the
Plan participants and other market participants, and enhancing the
resiliency and integrity of market systems.\73\ The Commission also
stated that the requirement for Primary Listing Markets to make good-
faith determinations concerning the appropriateness of declaring a
Regulatory Halt and resuming trading thereafter should promote fair and
orderly markets and the protection of investors, because it encourages
Primary Listing Markets to consider the broader interests of the
national market system and addresses potential concerns that Primary
Listing Markets may be subject to commercial pressures in making
decisions to call a Regulatory Halt and resuming trading
thereafter.\74\
---------------------------------------------------------------------------

    \72\ See Fiftieth Amendment Order, supra note 7, at 29848.
    \73\ See id.
    \74\ See id.
---------------------------------------------------------------------------

    The Commission believes that the Exchange's proposal to incorporate
provisions of the Amended UTP Plan, including the provisions that were
approved as part of the Fiftieth Amendment, is consistent with the goal
of establishing a clear and uniform approach with respect to trading
halts under various defined circumstances, improving coordination and
certainty among the Plan participants and other market participants,
enhancing the resiliency and integrity of market systems, and
encouraging Primary Listing Markets to consider the broader interests
of the national market system in declaring a Regulatory Halt and
resuming trading thereafter. The Commission similarly believes that the
Exchange's proposal to reorganize the provisions of existing Rule 4120
that describe the various types of discretionary and mandatory
Regulatory Halts, with changes to conform these provisions to the
language of the Amended UTP Plan, is consistent with these goals.\75\
---------------------------------------------------------------------------

    \75\ See supra notes 19-23 and accompanying text (describing the
proposal to replace the term ``Regular Market Session'' with the
term ``Regular Trading Hours'' and to make conforming and clarifying
changes to the definition of ``Post-Market Session'') and note 28
and accompanying text (describing the proposal to amend Rule 4120 to
conform to the fair and orderly market standard for Regulatory Halts
in the Amended UTP Plan and to reflect that, under the Amended UTP
Plan, only the Primary Listing Market may declare a Regulatory Halt,
and the Exchange would be required to halt trading in a security if
its Primary Listing Market declares a Regulatory Halt). Also as
described above, the Exchange proposes to add the market-wide
circuit breaker halt as a type of mandatory Regulatory Halt. See
supra note 33 and accompanying text.
---------------------------------------------------------------------------

    As described above, the implementation of certain provisions of the
Amended UTP Plan, which were approved as part of the Fiftieth
Amendment, requires the Exchange to adopt certain rules.\76\ In
accordance with these provisions of the Amended UTP Plan, the Exchange
proposes to adopt a five-minute minimum notice and Display Only Period
for a SIP Halt Resume Time, which is consistent with the minimum length
of the Display Only Period that the Exchange applies to certain other
types of Regulatory Halts.\77\ The Exchange also proposes to establish
the last SIP Halt Resume Time as 20 minutes before the end of Regular
Trading Hours, which is designed to allow the Exchange to conduct an
orderly halt cross process before the end of Regular Trading Hours and
without impacting the closing cross process.\78\ Moreover, the Exchange
proposes to provide a 10-minute waiting period for other markets to
resume trading in a security, if the Exchange is the Primary Listing
Market for the security and does not resume trading following the SIP
Halt Resume Time, which is similar to a waiting period that is
currently in the LULD Plan. The Commission believes that these aspects
of the proposal are reasonably designed to allow the Exchange to
implement the Fiftieth Amendment to the Plan.
---------------------------------------------------------------------------

    \76\ See supra notes 46-54 and accompanying text.
    \77\ See current Rule 4120(c)(7).
    \78\ As described above, for a SIP Halt initiated by the
Exchange, the Exchange proposes to resume trading using the same
reopening process as for non-IPO and non-LULD Regulatory Halts. See
supra note 51 and accompanying text.
---------------------------------------------------------------------------

    Furthermore, as described above, the Exchange proposes to specify
in Rule 4120(c) the circumstances under which it may declare an
Operational Halt (which applies only to trading on the Exchange), as
well as the process for initiating an Operational Halt and resuming
trading following an Operational Halt. The Exchange proposes to use the
existing halt cross process to reopen trading following an Operational
Halt, although the Exchange would be permitted to reopen trading
following an Operational Halt without a halt cross if it determines
such action to be in the best interest of the market. The Commission
believes that the proposed rules governing Operational Halts on the
Exchange are reasonably designed to allow the Exchange to halt trading
(which applies only to trading on the Exchange) when there are unusual
conditions with respect to trading on the Exchange and when necessary
to main a fair and orderly market on the Exchange.\79\ The Commission
also believes that the proposed rules would allow the Exchange to
resume trading following an Operational Halt in a fair and orderly
manner using the Exchange's established halt cross process, while
providing the Exchange the ability to reopen trading without a halt
cross if that is in the best interest of the market, including when
trading has continued in a fair and orderly manner on other markets.
---------------------------------------------------------------------------

    \79\ The Exchange currently has authority under its bylaws to
implement an Operational Halt under certain circumstances. See
Article IX, Section 5 of the Exchange's By-Laws (stating that the
Exchange board, or such person or persons as may be designated by
the board, in the event of an emergency or extraordinary market
conditions, has the authority to take any action regarding the
trading in or operation of the Exchange).
---------------------------------------------------------------------------

    Finally, the Commission believes that the proposed non-substantive
and conforming changes would remove obsolete or superseded text from
the Exchange's rules \80\ and ensure internal

consistency within the Exchange's rules.\81\
---------------------------------------------------------------------------

    \80\ See supra notes 30-31 (describing the deletion of rule
provisions that are superseded by the LULD Plan, the Amended UTP
Plan, and the proposed rules on Operational Halts), notes 35 and 39
(describing the deletion of rule provisions that are superseded by
the Amended UTP Plan), notes 67-68 and accompany text (describing
the deletion of references to the obsolete Intermarket Trading
system and circuit breaker), and note 70 and accompanying text
(describing the deletion of rule provisions that are covered
elsewhere in the Exchange's rules).
    \81\ See supra note 66 and accompany text (describing updates to
the cross-citations to the provisions within Rule 4120) and note 69
and accompany text (describing deletions to ensure consistency with
the definition and role of the Primary Listing Market under the
Amended UTP Plan). See also supra note 40 (describing the proposal
to relocate the provisions of existing Rule 4120 that describe the
reopening process following a Regulatory Halt, with a proposed
change to clarify the applicability of the process to the various
types of Regulatory Halts, and the proposal to amend Rule 4753(b) to
specify that the halt cross process in Rule 4753 applies generally
to Nasdaq-listed securities that are the subject of a trading halt
or pause in Rule 4120).
---------------------------------------------------------------------------

    For the foregoing reasons, the Commission finds that the proposed
rule change, 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,\82\ that the proposed rule change (SR-NASDAQ-2022-017), as
modified by Amendment No. 1, be, and hereby is approved.
---------------------------------------------------------------------------

    \82\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\83\
---------------------------------------------------------------------------

    \83\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-12732 Filed 6-13-22; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 85, Number 124 (Friday, June 26, 2020)]
[Notices]
[Page 38368]
[FR Doc No: 2020-13815]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings

    Take notice that the Commission has received the following Natural
Gas Pipeline Rate and Refund Report filings:
    Docket Numbers: RP20-958-000.
    Applicants: Transcontinental Gas Pipe Line Company, LLC.
    Description: Compliance filing Rate Schedule S-2 Flow Through
Refund TETCO OFO.
    Filed Date: 6/19/20.
    Accession Number: 20200619-5054.
    Comments Due: 5 p.m. ET 7/1/20.

    Docket Numbers: RP20-959-000.
    Applicants: Texas Eastern Transmission, LP.
    Description: Sec.  4(d) Rate Filing: Negotiated Rates--Range
K910916 releases to be effective 6/20/2020.
    Filed Date: 6/19/20.
    Accession Number: 20200619-5173.
    Comments Due: 5 p.m. ET 7/1/20.

    Docket Numbers: RP20-960-000.
    Applicants: Kern River Gas Transmission Company.
    Description: Sec.  4(d) Rate Filing: 2020 BP Energy Non-Conforming
TSA to be effective 7/1/2020.
    Filed Date: 6/19/20.
    Accession Number: 20200619-5181.
    Comments Due: 5 p.m. ET 7/1/20.

    Docket Numbers: RP20-961-000.
    Applicants: Trailblazer Pipeline Company LLC.
    Description: Sec.  4(d) Rate Filing: TPC 2020-06-19 Negotiated Rate
Agreement to be effective 6/20/2020.
    Filed Date: 6/19/20.
    Accession Number: 20200619-5191.
    Comments Due: 5 p.m. ET 7/1/20.

    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 date(s). 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: June 22, 2020.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2020-13815 Filed 6-25-20; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 77, Number 200 (Tuesday, October 16, 2012)]
[Notices]
[Page 63313]
[FR Doc No: 2012-25424]

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

ENVIRONMENTAL PROTECTION AGENCY

[FRL-9741-4]

Notice of Meeting of the EPA's Children's Health Protection
Advisory Committee (CHPAC)

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice of meeting.

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

SUMMARY: Pursuant to the provisions of the Federal Advisory Committee
Act, Public Law 92-463, notice is hereby given that the next meeting of
the Children's Health Protection Advisory Committee (CHPAC) will be
held November 7 and 8, 2012 at EPA's Potomac Yards Building (2777 South
Crystal Drive, Arlington, VA 22202), Room 4120 North. The CHPAC was
created to advise the Environmental Protection Agency on science,
regulations, and other issues relating to children's environmental
health.

DATES: The CHPAC will meet November 7 and 8, 2012.

ADDRESSES: 2777 South Crystal Drive, Arlington, VA 22202.

FOR FURTHER INFORMATION CONTACT: Martha Berger, Office of Children's
Health Protection, USEPA, MC 1107A, 1200 Pennsylvania Avenue NW.,
Washington, DC 20460,<PHONE_NUMBER> or<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: The meetings of the CHPAC are open to the
public. The CHPAC will meet on Wednesday, November 7th from 9 a.m. to 5
p.m., and Thursday, November 8th from 9 a.m. to 12 p.m. Agenda items
include discussions on lead and children, prenatal environmental
exposures and health disparities.
    Access and Accommodations: For information on access or services
for individuals with disabilities, please contact Martha Berger at 202-
564-2191 or<EMAIL_ADDRESS>preferably at least 10 days prior
to the meeting.

    Dated: October 4, 2012.
Martha Berger,
Designated Federal Official.
[FR Doc. 2012-25424 Filed 10-15-12; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register Volume 85, Number 82 (Tuesday, April 28, 2020)]
[Proposed Rules]
[Pages 23492-23495]
[FR Doc No: 2020-08902]

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

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. FAA-2015-3941; Product Identifier 2015-SW-052-AD]
RIN 2120-AA64

Airworthiness Directives; Airbus Helicopters Deutschland GmbH
Helicopters

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Supplemental notice of proposed rulemaking (SNPRM); reopening
of comment period.

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

SUMMARY: The FAA is revising an earlier proposal for Airbus Helicopters
Deutschland GmbH (Airbus Helicopters) Model MBB-BK 117A-3, MBB-BK 117A-
4, MBB-BK 117B-1, MBB-BK 117B-2, and MBB-BK 117C-1 helicopters. This
action revises the notice of proposed rulemaking (NPRM) by expanding
the applicability and proposing to add requirements to replace certain
seals with newly certified seals and revise the Rotorcraft Flight
Manual (RFM) for your helicopter. The FAA is proposing this
airworthiness directive (AD) to address the unsafe condition on these
products. Since these actions would impose an additional burden over
those in the NPRM, the FAA is reopening the comment period to allow the
public the chance to comment on these changes.

DATES: The comment period for the NPRM published in the Federal
Register on May 5, 2016 (81 FR 27057), is reopened.
    The FAA must receive comments on this SNPRM by June 12, 2020.

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

Examining the AD Docket

    You may examine the AD docket on the internet at https://www.regulations.gov by searching for and locating Docket No. FAA-2015-
3941; or in person at Docket Operations between 9 a.m. and 5 p.m.,
Monday through Friday, except Federal holidays. The AD docket contains
this SNPRM, the European Union Aviation Safety Agency (previously
European Aviation Safety Agency) (EASA) AD, any comments received, and
other information. The street address for Docket Operations is listed
above. Comments will be available in the AD docket shortly after
receipt.
    For service information identified in this SNPRM, contact Airbus
Helicopters, 2701 N. Forum Drive, Grand Prairie, TX 75052; telephone
972-641-0000 or<PHONE_NUMBER>; fax<PHONE_NUMBER>; or at https://www.airbus.com/helicopters/services/technical-support.html. You may
view the referenced service information at the FAA, Office of the
Regional Counsel, Southwest Region, 10101 Hillwood Pkwy., Room 6N-321,
Fort Worth, TX 76177.

FOR FURTHER INFORMATION CONTACT: Matt Fuller, Senior Aviation Safety
Engineer, Safety Management Section, Rotorcraft Standards Branch, FAA,
10101 Hillwood Pkwy., Fort Worth, TX 76177; telephone<PHONE_NUMBER>;
email<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

Comments Invited

    The FAA invites you to send any written relevant data, views, or
arguments about this proposal. Send your comments to an address listed
under the ADDRESSES section. Include ``Docket No. FAA-2015-3941;
Product Identifier 2015-SW-052-AD'' at the beginning of your comments.
The FAA specifically invites comments on the overall regulatory,
economic, environmental, and energy aspects of this SNPRM. The FAA will
consider all comments received by the closing date and may amend this
SNPRM based on those comments.
    The FAA will post all comments received, without change, to https://www.regulations.gov, including any personal information you provide.
The FAA will also post a report summarizing each substantive verbal
contact received about this SNPRM.

Discussion

    The FAA issued an NPRM to amend 14 CFR part 39 by adding an AD that
would apply to Airbus Helicopters Model MBB-BK 117A-3, MBB-BK 117A-4,
MBB-BK 117B-1, MBB-BK 117B-2, and MBB-BK 117C-1 helicopters with
adhesive seal part number (P/N) 117-800201.01 installed

on an exterior or interior sliding door. The NPRM published in the
Federal Register on May 5, 2016 (81 FR 27057). The NPRM was prompted by
reports that the adhesive seal prevented the doors from jettisoning
properly. The NPRM proposed to require removing this part-numbered
adhesive seal from the exterior and interior of each sliding door. The
NPRM also proposed to prohibit the installation of this part-numbered
adhesive seal on any helicopter sliding door.
    EASA, which is the aviation authority for the Member States of the
European Union, had issued EASA AD No. 2015-0163, dated August 6, 2015
(EASA AD 2015-0163), to correct an unsafe condition for Airbus
Helicopters Model MBB-BK 117A-3, MBB-BK 117A-4, MBB-BK 117B-1, MBB-BK
117B-2, and MBB-BK 117C-1 helicopters. EASA advised that difficulties
were reported regarding the jettisoning of doors. The malfunction was
caused by the adhesive seal, which hampered the free movement of the
inner handle. According to EASA, a subsequent investigation showed that
the adhesive seal has mechanical and physical properties that do not
meet relevant certification requirements. EASA stated that this
condition, if not detected and corrected, could lead to a malfunction
of the door's jettisoning mechanism, reducing or preventing the
evacuation of the helicopter during an emergency, possibly resulting in
injury to occupants. To address this condition, EASA AD 2015-0163
required inspecting the exterior and interior door jettisoning system
on the left and right sliding doors for adhesive seal P/N 117-800201.01
and removing those adhesive seals.

Actions Since the NPRM Was Issued

    Since the FAA issued the NPRM, a new adhesive seal P/N has become
available and the related service information has been revised to
provide installation instructions for this new seal and instruction to
use a revised flight manual with preflight check information for the
new seal. EASA also revised its AD to EASA AD No. 2015-0163R1, dated
April 27, 2016, to include a reference to the installation of the new
adhesive seals.
    Accordingly, this SNPRM expands the applicability to include all
Airbus Helicopters Model MBB-BK 117A-3, MBB-BK 117A-4, MBB-BK 117B-1,
MBB-BK 117B-2, and MBB-BK 117C-1 helicopters and proposes to require
installation of the new adhesive seals and revise the RFM for your
helicopter.
    Additionally, since the NPRM was issued, the website address for
Airbus Helicopters has changed. This website address has been updated
in this SNPRM. Lastly, since the NPRM was issued, the FAA's Aircraft
Certification Service has changed its organization structure. The new
structure replaces product directorates with functional divisions. The
FAA has revised some of the office titles and nomenclature throughout
this proposed AD to reflect the new organizational changes. Information
about the new structure can be found in the Notice published on July
25, 2017 (82 FR 34564).

Comments

    The FAA gave the public the opportunity to participate in
developing this proposed AD. The FAA received no comments on the NPRM
or on the determination of the cost to the public.

FAA's Determination

    The FAA is proposing this SNPRM after evaluating all known relevant
information and determining that an unsafe condition is likely to exist
or develop on other helicopters of these same type designs. Certain
changes described above expand the scope of the original NPRM. As a
result, the FAA has determined that it is necessary to reopen the
comment period to provide additional opportunity for the public to
comment on this SNPRM.

Related Service Information Under 1 CFR Part 51

    The FAA reviewed Airbus Helicopters Deutschland GmbH Helicopters
Alert Service Bulletin MBB-BK117-20A-114, Revision 2, dated March 30,
2016, for Model MBB-BK 117A-3, MBB-BK 117A-4, MBB-BK 117B-1, MBB-BK
117B-2, and MBB-BK 117C-1 helicopters. This service information
describes procedures for cleaning and degreasing the seal installation
areas and installing adhesive seal P/N 117-800201.02. This service
information also specifies flight manual revisions with preflight check
information for this new seal.
    The FAA reviewed MBB Helicopters Flight Manual MBB-BK117 A-3,
Revision 17.1, MBB Helicopters Flight Manual MBB-BK117 A-4, Revision
16.1, MBB Helicopters Flight Manual MBB-BK117 B-1, Revision 20.1,
Eurocopter Flight Manual BK117 B-2, Revision 21.2, and Eurocopter
Flight Manual BK117 C-1, Revision 30.1, each dated March 25, 2015. This
revision of the service information adds preflight check procedures for
``Jettisonable sliding door installed, after ASB-BK117-20A-114'' in the
Normal Procedures section, Preflight Exterior Check, under both
``Fuselage--right side'' and ``Fuselage--left side'' of the RFM for
your helicopter.
    This service information is reasonably available because the
interested parties have access to it through their normal course of
business or by the means identified in the ADDRESSES section.

Proposed Requirements of the SNPRM

    If adhesive seal P/N 117-800201.01 is installed, this proposed AD
would require, within 25 hours time-in-service, removing each adhesive
seal from the interior and exterior of each sliding door. For all
helicopters, this proposed AD would require cleaning and degreasing the
seal installation areas and installing adhesive seal P/N 117-800201.02.
This proposed AD would also require revising the Normal Procedures
section, Preflight Exterior Check, under both ``Fuselage--right side''
and ``Fuselage--left side'' of the RFM for your helicopter to check the
condition of the exterior and interior seals.
    This proposed AD would also prohibit the installation of adhesive
seal P/N 117-800201.01 on any helicopter sliding door.

Differences Between This SNPRM and the EASA AD

    The EASA AD does not mandate the installation of the new adhesive
seals, whereas this proposed AD would. Model MBB-BK 117 B-2 serial
number 7203 is affected by the EASA AD, but it is not affected by this
SNPRM because it is ineligible for U.S. registration.

Costs of Compliance

    The FAA estimates that this proposed AD affects 45 helicopters of
U.S. registry. Labor costs are estimated at $85 per work-hour. Based on
these numbers, the FAA estimates the following costs to comply with
this proposed AD.
    If installed, removing adhesive seals P/N 117-800201.01 would take
about 0.5 work-hour for an estimated cost of about $43 per helicopter.
Installing new seals and revising the RFM for your helicopter would
take about 1 work-hour and a set of new seals (4 units) would cost
about $5 for an estimated cost of $90 per helicopter and $4,050 for the
U.S. fleet.

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.

    The FAA is 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

    The FAA 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. Will not affect intrastate aviation in Alaska, 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.

List of Subjects in 14 CFR Part 39

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

The Proposed Amendment

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

PART 39--AIRWORTHINESS DIRECTIVES

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

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

Sec.  39.13  [Amended]

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

Airbus Helicopters Deutschland GmbH: Docket No. FAA-2015-3941;
Product Identifier 2015-SW-052-AD.

(a) Applicability

    This AD applies to Airbus Helicopters Deutschland GmbH Model
MBB-BK 117A-3, MBB-BK 117A-4, MBB-BK 117B-1, MBB-BK 117B-2, and MBB-
BK 117C-1 helicopters, certificated in any category.

(b) Unsafe Condition

    This AD defines the unsafe condition as the presence of sealant
on a sliding door (door). This condition could result in the door
failing to jettison, preventing helicopter occupants from exiting
the helicopter during an emergency.

(c) Comments Due Date

    The FAA must receive comments by June 12, 2020.

(d) Compliance

    You are responsible for performing each action required by this
AD within the specified compliance time unless it has already been
accomplished prior to that time.

(e) Required Actions

    (1) Within 25 hours time-in-service after the effective date of
this AD:
    (i) For helicopters with adhesive seal part number (P/N) 117-
800201.01 installed on an exterior or interior door, remove adhesive
seal P/N 117-800201.01 from the interior and exterior of each door,
remove any adhesive using solvent (CM 202 or equivalent) and remove
any grease using methyl ethyl ketone (CM 217 or equivalent), and
install adhesive seal P/N 117-800201.02. Refer to Figures 1 through
4 of Airbus Helicopters Alert Service Bulletin MBB-BK117-20A-114,
Revision 2, dated March 30, 2016 (ASB MBB-BK117-20A-114) for a
depiction of the seal installation areas.
    (ii) For helicopters without adhesive seal P/N 117-800201.01
installed, clean the seal installation areas using solvent (CM 202
or equivalent), remove any grease using methyl ethyl ketone (CM 217
or equivalent), and install adhesive seal P/N 117-800201.02. Refer
to Figures 1 through 4 of ASB MBB-BK117-20A-114 for a depiction of
the seal installation areas.
    (iii) Revise the Normal Procedures section, Preflight Exterior
Check, under both ``Fuselage--right side'' and ``Fuselage--left
side'' of the Rotorcraft Flight Manual for your helicopter by adding
the information in Figure 1 to paragraph (e)(1)(iii) of this AD or
by adding the information for ``Jettisonable sliding door installed,
after ASB-BK117-20A-114'' of the following as applicable for your
helicopter: MBB Helicopters Flight Manual MBB-BK117 A-3, Revision
17.1, MBB Helicopters Flight Manual MBB-BK117 A-4, Revision 16.1,
MBB Helicopters Flight Manual MBB-BK117 B-1, Revision 20.1,
Eurocopter Flight Manual BK117 B-2, Revision 21.2, or Eurocopter
Flight Manual BK117 C-1, Revision 30.1, each dated March 25, 2015.
Using a different document with information identical to the
information for the ``Jettisonable sliding door installed, after
ASB-BK117-20A-114'' procedures in the Flight Manual revision
specified in this paragraph for your helicopter is acceptable for
compliance with the requirements of this paragraph. This action may
be performed by the owner/operator (pilot) holding at least a
private pilot certificate and must be entered into the aircraft
records showing compliance with this AD in accordance with Sec.
43.9(a)(1) through (4) and Sec.  91.417(a)(2)(v). The record must be
maintained as required by Sec.  91.417, Sec.  121.380, or Sec.
135.439.
[GRAPHIC] [TIFF OMITTED] TP28AP20.019

    (2) After the effective date of this AD, do not install adhesive
seal P/N 117-800201.01 on any helicopter door.

(f) Alternative Methods of Compliance (AMOCs)

    (1) The Manager, Safety Management Group, FAA, may approve AMOCs
for this AD. Send your proposal to: Matt Fuller, Senior Aviation
Safety Engineer, Safety Management Section, Rotorcraft Standards
Branch, FAA, 10101 Hillwood Pkwy., Fort Worth, TX 76177; telephone
817-222-5110; email<EMAIL_ADDRESS>    (2) For operations conducted under a 14 CFR part 119 operating
certificate or under 14 CFR part 91, subpart K, the FAA suggests
that you notify your principal inspector, or lacking a principal
inspector, the manager of the local flight standards district office
or certificate holding district office before operating any aircraft
complying with this AD through an AMOC.

(g) Additional Information

    (1) For service information related to this AD, contact Airbus
Helicopters, 2701 N. Forum Drive, Grand Prairie, TX 75052; telephone
972-641-0000 or<PHONE_NUMBER>; fax<PHONE_NUMBER>; or at https://www.airbus.com/helicopters/services/technical-support.html. You may
view the referenced service information at the FAA, Office of the
Regional Counsel, Southwest Region, 10101 Hillwood Pkwy, Room 6N-
321, Fort Worth, TX 76177.

    (2) The subject of this AD is addressed in European Union
Aviation Safety Agency (previously European Aviation Safety Agency)
(EASA) AD No. 2015-0163R1, dated April 27, 2016. You may view the
EASA AD on the internet at https://www.regulations.gov in Docket No.
FAA-2015-3941.

(h) Subject

    Joint Aircraft Service Component (JASC) Code: 5220, Emergency
Exits.

    Issued on April 22, 2020.
Gaetano A. Sciortino,
Deputy Director for Strategic Initiatives, Compliance & Airworthiness
Division, Aircraft Certification Service.
[FR Doc. 2020-08902 Filed 4-27-20; 8:45 am]
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[Federal Register Volume 88, Number 217 (Monday, November 13, 2023)]
[Notices]
[Page 77652]
[FR Doc No: 2023-24865]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-98863; File No. SR-NYSE-2023-35]

Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Withdrawal of Proposed Rule Change To Amend Its Price List

November 6, 2023.
    On September 28, 2023, New York Stock Exchange LLC (``NYSE'') filed
with the Securities and Exchange Commission (the ``Commission''),
pursuant to section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'' or ``Exchange Act'') \1\ and Rule 19b-4 thereunder \2\ a
proposed rule change to amend its Price List to: (1) modify fee rates
and requirements for transactions that remove liquidity from the
Exchange; (2) offer a monthly rebate for Designated Market Maker units
with 150 or fewer assigned securities along with incentives for
affiliated Supplemental Liquidity Providers; and (3) eliminate an
underutilized fee for transactions that remove liquidity from the
Exchange in Tape B and C securities. The proposed rule change was
published for comment on October 4, 2023.\3\ On November 1, 2023, NYSE
withdrew the proposed rule change (SR-NYSE-2023-35).
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 98666 (September 29,
2023), 88 FR 68718 (October 4, 2023).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\4\
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    \4\ 17 CFR 200.30-3(a)(12).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-24865 Filed 11-9-23; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 78, Number 218 (Tuesday, November 12, 2013)]
[Notices]
[Pages 67349-67350]
[FR Doc No: 2013-26914]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. CP00-401-001]

AltaGas Facilities (U.S.), Inc. (AltaGas); Notice of Application

    Take notice that on October 21, 2013, AltaGas Facilities (U.S.),
Inc. (AltaGas), 1700, 355 4th Avenue SW., Calgary, Alberta T2P 0J1,
filed an application in Docket No. CP00-401-001, requesting
authorization to terminate its Natural Gas Act section 3 authorization
and its related Presidential Permit for its facilities extending from
the international boundary in Toole County, Montana to Alberta, Canada.
This filing is available for review at the Commission in the Public
Reference Room or may be viewed on the Commission's Web site at http://www.ferc.gov using the ``eLibrary'' link. Enter the docket number
excluding the last three digits in the docket number field to access
the document. For assistance, please contact FERC Online Support at
<EMAIL_ADDRESS>or toll free at<PHONE_NUMBER>, or for TTY,
contact<PHONE_NUMBER>.
    On July 31, 2001, AltaGas was authorized to construct, connect,
operate, and maintain 60 feet of six-inch diameter natural gas pipeline
extending from the international boundary with Canada in T37N, R3W, to
an interconnection with the natural gas gathering facilities which
AltaGas owns in Toole County, Montana. In addition with the request to
terminate the section 3 authorization, AltaGas also requests waiver of
the requirement to remove the pipeline, as required by Article 9 of its
Presidential Permit. AltaGas proposes to abandon the 60 foot pipeline
in-place. The pipeline would be treated, capped, and tagged underground
prior to its abandonment. The records of the internal and external
corrosion control programs would be maintained for two years.

    Any questions regarding this application should be directed to
Nicole Axelson Plumb, MA, Regulatory Analyst, AltaGas Holdings, Inc.,
1700, 355 4th Avenue SW., Calgary, Alberta T2P 0J1, Canada, or by
telephone at<PHONE_NUMBER>.
    Pursuant to Section 157.9 of the Commission's rules, 18 CFR 157.9,
within 90 days of this Notice the Commission staff will either:
Complete its environmental assessment (EA) and place it into the
Commission's public record (eLibrary) for this proceeding; or issue a
Notice of Schedule for Environmental Review. If a Notice of Schedule
for Environmental Review is issued, it will indicate, among other
milestones, the anticipated date for the Commission staff's issuance of
the final environmental impact statement (FEIS) or EA for this
proposal. The filing of the EA in the Commission's public record for
this proceeding or the issuance of a Notice of Schedule for
Environmental Review will serve to notify federal and state agencies of
the timing for the completion of all necessary reviews, and the
subsequent need to complete all federal authorizations within 90 days
of the date of issuance of the Commission staff's FEIS or EA.
    There are two ways to become involved in the Commission's review of
this project. First, any person wishing to obtain legal status by
becoming a party to the proceedings for this project should, on or
before the comment date stated below, file with the Federal Energy
Regulatory Commission, 888 First Street NE., Washington, DC 20426, a
motion to intervene in accordance with the requirements of the
Commission's Rules of Practice and Procedure (18 CFR 385.214 or
385.211) and the Regulations under the NGA (18 CFR 157.10). A person
obtaining party status will be placed on the service list maintained by
the Secretary of the Commission and will receive copies of all
documents filed by the applicant and by all other parties. A party must
submit 14 copies of filings made with the Commission and must mail a
copy to the applicant and to every other party in the proceeding. Only
parties to the proceeding can ask for court review of Commission orders
in the proceeding.
    However, a person does not have to intervene in order to have
comments considered. The second way to participate is by filing with
the Secretary of the Commission, as soon as possible, an original and
two copies of comments in support of or in opposition to this project.
The Commission will consider these comments in determining the
appropriate action to be taken, but the filing of a comment alone will
not serve to make the filer a party to the proceeding. The Commission's
rules require that persons filing comments in opposition to the project
provide copies of their protests only to the party or parties directly
involved in the protest.
    Persons who wish to comment only on the environmental review of
this project should submit an original and two copies of their comments
to the Secretary of the Commission. Environmental commentors will be
placed on the Commission's environmental mailing list, will receive
copies of the environmental documents, and will be notified of meetings
associated with the Commission's environmental review process.
Environmental commentors will not be required to serve copies of filed
documents on all other parties. However, the non-party commentors will
not receive copies of all documents filed by other parties or issued by
the Commission (except for the mailing of environmental documents
issued by the Commission) and will not have the right to seek court
review of the Commission's final order.
    The Commission strongly encourages electronic filings of comments,
protests and interventions in lieu of paper using the ``eFiling'' link
at http://www.ferc.gov. Persons unable to file electronically should
submit an original and 14 copies of the protest or intervention to the
Federal Energy Regulatory Commission, 888 First Street NE., Washington,
DC 20426.
    This filing is accessible on-line at http://www.ferc.gov, using the
``eLibrary'' link and is available for review in the Commission's
Public Reference Room in Washington, DC. There is an ``eSubscription''
link on the Web site that enables subscribers to receive email
notification when a document is added to a subscribed docket(s). For
assistance with any FERC Online service, please email
<EMAIL_ADDRESS>or call<PHONE_NUMBER> (toll free). For
TTY, call<PHONE_NUMBER>.
    Comment Date: November 25, 2013.

    Dated: November 4, 2013.
Kimberly D. Bose,
Secretary.
[FR Doc. 2013-26914 Filed 11-8-13; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register: November 27, 2006 (Volume 71, Number 227)]
[Notices]
[Page 68592]
[DOCID:fr27no06-80]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Project Nos. 12688-000, 12689-000, 12690-000, 12691-000, 12692-000, and
12698-000

Public Utility District No. 1 of Snohomish County, WA; Notice
Granting Late Intervention

November 16, 2006.
    On June 22, 2006, in Project Nos. 12688, 12689, 12690, and 12692,
and on July 3, 2006, in Project Nos. 12691 and 12698, the Commission
issued notice of preliminary permit applications filed by Public
Utility District No. 1 of Snohomish County, Washington.\1\ The notices
in Project Nos. 12688, 12689, 12690, and 12692 established August 21,
2006, as the deadline for filing motions to intervene. The notices in
Project Nos. 12691 and 12698 established September 1, 2006, as the
deadline for filing motions to intervene.
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    \1\ The applications seek preliminary permits for: (1) The Rich
Passage Tidal Energy Project No. 12688, to be located in Rich
Passage in Puget Sound, Kitsap County, Washington; (2) the Spieden
Channel Tidal Energy Project No. 12689, to be located in Spieden
Channel in San Juan County, Washington; (3) the Admiralty Inlet
Tidal Energy Project No. 12690, to be located in Admiralty Inlet in
Jefferson, Kitsap, and Island Counties, Washington; (4) the Agate
Passage Tidal Energy Project No. 12691, to be located in Agate
Passage in Puget Sound in Kitsap County, Washington; (5) the San
Juan Channel Tidal Energy Project No. 12692, to be located in San
Juan Channel in San Juan County, Washington; and (6) the Guemes
Channel Tidal Energy Project No. 12698, which would be located in
Guemes Channel in San Juan County, Washington.
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    On September 14, 2006, the National Oceanic and Atmospheric
Administration filed a late motion to intervene in all of the above-
captioned projects. Granting the motion to intervene will not unduly
delay or disrupt the proceedings, or prejudice other parties to them.
Therefore, pursuant to Rule 214,\2\ the motion to intervene filed by
the National Oceanic and Atmospheric Administration is granted, subject
to the Commission's rules and regulations.
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    \2\ 18 CFR 385.214 (2006).

Magalie R. Salas,
Secretary.
[FR Doc. E6-19923 Filed 11-24-06; 8:45 am]

BILLING CODE 6717-01-P