[Federal Register Volume 88, Number 185 (Tuesday, September 26, 2023)]
[Notices]
[Pages 66073-66076]
[FR Doc No: 2023-20811]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-98455; File No. SR-CBOE-2023-019]

Self-Regulatory Organizations; Cboe Exchange, Inc.; Order
Granting Approval of a Proposed Rule Change To Make Permanent the
Operation of Its Pilot Program That Allows the Exchange To List P.M.-
Settled Third Friday-of-the-Month Mini-SPX Index (``XSP'') Options and
Mini-Russell 2000 Index (``MRUT'') Options Series

September 20, 2023.

I. Introduction

    On April 19, 2023, Cboe Exchange, Inc. (``Exchange'' or ``Cboe
Options'') 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 make permanent the operation of its pilot
program (``Program'') that permits the Exchange to list p.m.-settled
third Friday-of-the-month XSP and MRUT options (``p.m.-settled XSP''
and ``p.m.-settled MRUT,'' respectively, and collectively, the ``Pilot
Products''). The proposed rule change was published for comment in the
Federal Register on April 28, 2023.\3\ On June 9, 2023, 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 July 27, 2023, the
Commission instituted proceedings to determine whether to approve or
disapprove the proposed rule change.\6\ The Commission did not receive
any comment letters and is approving the proposed rule change.
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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. 97366 (April 24,
2023), 88 FR 26359 (``Notice'').
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 97678, 88 FR 39285
(June 15, 2023). The Commission designated July 27, 2023, as the
date by which the Commission shall approve or disapprove, or
institute proceedings to determine whether to approve or disapprove,
the proposed rule change.
    \6\ See Securities Exchange Act Release No. 98005, 88 FR 50943
(August 2, 2023).
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II. Background

    When cash-settled \7\ index options were first introduced in the
1980s, they

generally utilized closing-price settlement procedures (i.e., p.m.
settlement).\8\ The Commission became concerned with the impact of
p.m.-settled, cash-settled index options on the underlying cash
equities markets, and in particular, added market volatility and sharp
price movements near the close on expiration days.\9\ These concerns
were heightened during the ``triple-witching'' hour on the third Friday
of March, June, September, and December when index options, index
futures, and options on index futures expired concurrently.\10\
Academic research at the time provided at least some evidence
suggesting that futures and options expirations contributed to excess
volatility and reversals around the close on those days.\11\
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    \7\ The seller of a ``cash-settled'' index option pays out the
cash value of the applicable index on expiration or exercise. A
``physical delivery'' option, like equity and ETF options, involves
the transfer of the underlying asset rather than cash. See
Characteristics and Risks of Standardized Options, available at:
https://www.theocc.com/Company-Information/Documents-and-Archives/Options-Disclosure-Document.
    \8\ See Securities Exchange Act Release No. 65256 (September 2,
2011), 76 FR 55969, at 55972 (September 9, 2011) (SR-C2-2011-008)
(Order approving proposed rule change to establish a pilot program
to list and trade p.m.-settled third Friday-of-the-month S&P 500
stock index (``SPX'') options (``SPXPM'') on the C2 Options
Exchange, Incorporated (``C2'')) (``C2 SPXPM Approval''). SPXPM was
traded on a pilot basis on C2 until the introduction of SPXPM
trading on Cboe Options. See Securities Exchange Act Release No.
68888 (February 8, 2013), 78 FR 10668, at 10668 (February 14, 2013)
(SR-CBOE-2012-120) (``SPXPM Approval Order'').
    \9\ See C2 SPXPM Approval, 76 FR at 55972.
    \10\ See id.
    \11\ See Securities and Exchange Commission, Division of
Economic Risk and Analysis, Memorandum dated February 2, 2021 on
Cornerstone Analysis of PM Cash-Settled Index Option Pilots
(September 16, 2020) (``Pilot Memo'') at 5, available at: https://www.sec.gov/files/Analysis_of_PM_Cash_Settled_Index_Option_Pilots.pdf (citing, among
other papers, Stoll, Hans R., and Robert E. Whaley, ``Expiration day
effects of index options and futures,'' Monograph Series in Finance
and Economics, no. 3 (1986)).
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    In light of the concerns with p.m. settlement and to help
ameliorate the price effects associated with expirations of p.m.-
settled, cash-settled index products, in 1987, the Commodity Futures
Trading Commission approved a proposed rule change by the Chicago
Mercantile Exchange (``CME'') to provide for a.m. settlement \12\ for
index futures, including futures on the S&P 500 Index (``S&P
500'').\13\ The Commission subsequently approved a proposed rule change
by Cboe Options to list and trade a.m.-settled options on the S&P
500.\14\ In 1992, the Commission approved Cboe Options' proposal to
transition all of its European-style cash-settled options on the S&P
500 to a.m. settlement.\15\ However, in 1993, the Commission approved a
proposed rule change allowing Cboe Options to list p.m.-settled options
on certain broad-based indexes, including the S&P 500, expiring at the
end of each calendar quarter (since approved as permanent).\16\
Starting in 2006, the Commission approved a number of proposals, on a
pilot basis, permitting Cboe Options to introduce other index options,
including SPX options, with p.m.-settlement. These include p.m.-settled
index options expiring weekly (other than the third Friday) and at the
end of each month,\17\ SPXPM, as well as p.m.-settled XSP and MRUT
options expiring on the third Friday of the month.\18\
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    \12\ The exercise settlement value for an a.m.-settled index
option is determined by reference to the reported level of the index
as derived from the opening prices of the component securities on
the business day before expiration.
    \13\ See Proposed Amendments Relating to the Standard and Poor's
500, the Standard and Poor's 100 and the Standard Poor's OTC Stock
Price Index Futures Contract, 51 FR 47053 (December 30, 1986)
(notice of proposed rule change from the CME). See also Securities
Exchange Act Release No. 24367 (April 17, 1987), 52 FR 13890 (April
27, 1987) (SR-CBOE-87-11) (noting that the CME moved the S&P 500
futures contract's settlement value to opening prices on the
delivery date).
    \14\ See Securities Exchange Act Release No. 24367 (April 17,
1987), 52 FR 13890 (April 27, 1987) (SR-CBOE-87-11).
    \15\ See Securities Exchange Act Release No. 30944 (July 21,
1992), 57 FR 33376 (July 28, 1992) (SR-CBOE-92-09). The Commission
also approved proposals by other options markets to transfer most of
their cash-settled index products to a.m. settlement. See, e.g.,
Securities Exchange Act Release No. 25804 (June 15, 1988), 53 FR
23475 (June 22, 1988) (SR-NYSE-87-11 and 88-04).
    \16\ See Securities Exchange Act Release No. 31800 (February 1,
1993), 58 FR 7274 (February 5, 1993) (SR-CBOE-92-13). See also
Securities Exchange Act Release Nos. 54123 (July 11, 2006), 71 FR
40558 (July 17, 2006) (SR-CBOE-2006-65); and 60164 (June 23, 2009),
74 FR 31333 (June 30, 2009) (SR-CBOE-2009-029).
    \17\ See Securities Exchange Act Release Nos. 62911 (September
14, 2010), 75 FR 57539 (September 21, 2010) (SR-CBOE-2009-075);
76529 (November 30, 2015), 80 FR 75695 (December 3, 2015) (SR-CBOE-
2015-106); and 78531 (August 10, 2016), 81 FR 54643 (August 16,
2016) (SR-CBOE-2016-046).
    \18\ See Securities Exchange Act Release Nos. 70087 (July 31,
2013), 78 FR 47809 (August 6, 2013) (SR-CBOE-2013-055) (``XSP
Approval Order''); and 91067 (February 5, 2021) 86 FR 9108 (February
11, 2021) (SR-CBOE-2020-116) (``MRUT Approval Order'').
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    In the course of approving the various pilots, the Commission
reiterated its concern about the potential impact on the market at
expiration for the underlying component stocks for a p.m.-settled,
cash-settled index option.\19\ However, the Commission also recognized
the potential impact was unclear.\20\ The Commission approved the
Program on a pilot basis to allow the Exchange and the Commission to
monitor for and assess any potential for adverse market effects.\21\ In
order to facilitate this assessment, the Exchange committed to provide
the Commission with data and analysis in connection with the Program
\22\ and to make such data publicly available.\23\ In addition to the
Exchange's data and analysis, Cornerstone Research also conducted an
analysis at the direction of Staff from the Commission's Division of
Economic and Risk Analysis. The analysis utilizes the level of expiring
p.m.-settled index options open interest and the measures of volatility
and price reversals for the corresponding index futures, the underlying
cash index, and index component securities in the minutes leading up to
and immediately following the market close to study the effects of
pilot programs allowing p.m.-settled index options. The Pilot Memo is
discussed in more detail below.
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    \19\ See, e.g., SPXPM Approval Order, 78 FR at 10669. See also
Securities Exchange Act Release Nos. 64599 (June 3, 2011), 76 FR
33798, 33801-02 (June 9, 2011) (order instituting proceedings to
determine whether to approve or disapprove a proposed rule change to
allow the listing and trading of SPXPM options on the C2 Options
Exchange, Incorporated); and C2 SPXPM Approval, 76 FR at 55972-76.
    \20\ See, e.g., SPXPM Approval Order, 78 FR at 10669.
    \21\ See XSP Approval Order, 78 FR at 47811; and MRUT Approval
Order, 86 FR at 9109.
    \22\ Id.
    \23\ See, e.g., Securities Exchange Act Release No. 97446 (May
5, 2023), 88 FR 30365, at 30366 (May 11, 2023) (SR-CBOE-2023-024)
(stating the Exchange is making public on its website data and
analyses previously submitted to the Commission under the Program
and committing to make public any data or analyses submitted in the
future).
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III. Description of the Proposal

    The Pilot Products are cash-settled options with third Friday-of-
the-month expiration dates (``Expiration Friday'') whose exercise
settlement value is derived from closing prices on the last trading day
prior to expiration.
    The Exchange has filed to extend the operation of the pilot on
multiple occasions \24\ and it is currently set to expire on the
earlier of November 6, 2023, or the date on which the Program is
approved on a permanent basis.\25\ Now, the Exchange proposes to make
the Program permanent.
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    \24\ See, e.g., Securities Exchange Act Release Nos. 71424
(January 28, 2014), 79 FR 6249 (February 3, 2014) (SR-CBOE-2014-004)
and 96222 (November 3, 2022), 87 FR 67736 (November 9, 2022) (SR-
CBOE-2022-054).
    \25\ See Securities Exchange Act Release No. 97446 (May 5,
2023), 88 FR 30365 (May 11, 2023).
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    Since the Program's inception in 2013 for p.m.-settled XSP and 2021
for p.m.-settled MRUT, the Exchange has submitted reports to the
Commission regarding the Program that detail the Exchange's experience
with the Program, pursuant to the XSP and

MRUT Approval Orders.\26\ The Exchange states that, during the course
of the Program, it also provided the Commission with any additional
data or analyses the Commission requested if the Commission deemed such
data or analyses necessary to determine whether the Program was
consistent with the Act.\27\
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    \26\ See supra note 18. The Exchange has made public on its
website data and analyses previously submitted to the Commission
under the Program. See https://www.cboe.com/aboutcboe/legal-regulatory/national-market-system-plans/pm-settlement-spxpm-data.
    \27\ See Notice, 88 FR at 26361-26362.
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IV. Discussion and Commission Findings

    After careful review, the Commission finds that the proposed rule
change is consistent with the Act and the rules and regulations
thereunder applicable to a national securities exchange.\28\ In
particular, the Commission finds that the proposed rule change is
consistent with section 6(b)(5) of the Act,\29\ which requires, among
other things, that the Exchange's rules be designed to prevent
fraudulent and manipulative acts and practices, to promote just and
equitable principles of trade, to remove impediments to and perfect the
mechanism of a free and open market and a national market system, and,
in general, to protect investors and the public interest. In its
proposal to make the Program permanent, the Exchange addressed whether
the Program negatively impacts markets or impacted the quality of the
XSP and MRUT options market. Each of these elements is discussed in
greater detail below. As stated above, no comments were received on the
proposed rule change.
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    \28\ 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).
    \29\ 15 U.S.C. 78f(b)(5).
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Market Impact Considerations

    The Exchange states it has not identified any evidence from the
pilot data indicating that the trading of the Pilot Products has any
adverse impact on fair and orderly markets on Expiration Fridays for
the Mini-SPX Index, the Mini-RUT Index or the underlying securities
comprising the underlying indexes, nor have there been any observations
of abnormal market movements attributable to the Pilot Products from
any market participants that have come to the attention of the
Exchange.\30\ In order to support its overall assessment of the
Program, the Exchange included a review and analysis of pilot data.\31\
Among other things, the Exchange's analysis includes end of day
volatility as well as a comparison of the impact of quarterly index
rebalancing versus p.m.-settled expirations.\32\
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    \30\ See Notice, 88 FR at 26362.
    \31\ See id. at 26361-65. The Exchange states that although its
analysis specifically evaluated SPX options, the Exchange believes
it is appropriate to extrapolate the data to apply the Pilot
Products. See Notice, 88 FR at 26365. The Commission agrees it is
appropriate to extrapolate the data to the Pilot Products, as the
Exchange's analysis examines liquidity and volatility dynamics
around the market close, which may be associated with typical
hedging activities tied to expiring p.m.-settled index options.
    \32\ See id. at 26364.
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    In addition to reviewing the data and analysis provided by the
Exchange, the Commission reviewed the analysis in the Pilot Memo, which
evaluates whether higher levels of expiring open interest in p.m.-
settled index options results in increased volatility and price
reversals around the close. The Pilot Memo shows that the market share
for p.m.-settled options on the S&P 500 has grown substantially since
2007.\33\ The Exchange's review of pilot data also showed this trend
continuing from 2019 through 2021.\34\
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    \33\ See Pilot Memo at 2.
    \34\ See Notice, 88 FR at 26362. Specifically, since 2007, p.m.-
settled SPX options grew from 0.1% of open interest to 30% of open
interest in 2021. Id.
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    The Pilot Memo examines whether and to what extent expiring open
interest in p.m.-settled index options is empirically related with the
tendency of the corresponding index futures, the underlying index, or
index components to experience increased transitory volatility and
price reversals around the time of market close on expiration dates.
The Pilot Memo concludes that, although expiring p.m.-settled index
option open interest may have a statistically significant relationship
with volatility and price reversals of the underlying index, index
futures, and index component securities around the market close, the
magnitude of the effect is economically very small.\35\ For example,
the largest settlement event that occurred during the time period
studied in the Pilot Memo (a settlement of $100.4 billion of notional
on December 29, 2017) had an estimated impact on the futures price of
only approximately 0.02% (a predicted impact of $0.54 relative to a
closing futures price of $2,677).\36\
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    \35\ See Pilot Memo at 3. The Pilot Memo also examined options
on the Russell 2000 Index and the Nasdaq-100 Index. However, during
the time period covered by the study (2007-2018), the markets for
both a.m.- and p.m.-settled options on these indexes were very small
compared to the size of that for S&P 500 Index options. See id. at
4.
    \36\ See id. at 3.
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    The Exchange further reviewed a sample of pilot data from 2019
through 2021, and measured the volatility of the S&P 500 over the final
fifteen minutes of each trading day and compared expiration days to
non-expiration days.\37\ Generally volatility was slightly higher on
expiration days, but in cases where overall market volatility
increased, the normalized impact on expiration days versus non-
expiration days remained consistent.\38\ The Exchange further analyzed
volatility on days when the S&P 500 was rebalanced, and states its
results suggest more closing volatility on rebalance dates compared to
non-rebalance expiration dates, indicating that rebalancing of the S&P
500 may have a greater impact on S&P 500 volatility than p.m.-settled
option expirations.\39\
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    \37\ See Notice, 88 FR at 26363.
    \38\ See id.
    \39\ See id.
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    The Exchange also reviewed a sample of post-2018 pilot data for
potential correlation between excess market volatility and price
reversals and the hedging activity of liquidity providers.\40\ To
determine whether there is a correlation, the Exchange calculated an
estimate of the amount of market-on-close (``MOC'') volume in the S&P
500 component markets attributable to expected hedging activity as a
result of expiring in-the-money options.\41\ The Exchange states its
results indicate that other sources of MOC share volume generally
exceed the volume resulting from hedging activity for p.m.-settled SPX
options.\42\ Further, the Exchange also compared hedging futures
positions that would correspond to expiring in-the-money p.m.-settled
SPX options and concludes the data indicate negligible capacity for
hedging activity to increase volatility in the underlying markets.\43\
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    \40\ See id.
    \41\ See id.
    \42\ See id. at 26364.
    \43\ See id.
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    Finally, the Exchange states that the significant changes in the
closing procedures of the primary markets in recent decades, including
considerable advances in trading systems and technology, have
significantly minimized risks of any potential impact of p.m.-, cash-
settled XSP or MRUT options on the underlying cash markets.\44\
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    \44\ See id.
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Market Quality Considerations

    The Exchange also completed an analysis intended to evaluate
whether the Program impacted the quality of the a.m.-settled options
market. Specifically, the Exchange compared

values of key market quality indicators (specifically, the bid-ask
spread \45\ and effective spread \46\) in p.m.-settled SPX weekly
(``SPXW'') options both before and after the introduction of Tuesday
expirations and Thursday expirations for SPXW options on April 18 and
May 11, 2022, respectively.\47\ The Exchange concludes from this
analysis that the introduction of SPX options with Tuesday and Thursday
options had no significant impact on the market quality of SPXW options
with Monday, Wednesday, and Friday expirations.\48\ For a majority of
the series analyzed, the Exchange observed no statistically significant
difference in bid-ask spread or effective spread.\49\ The Exchange
states that analyzing whether the introduction of new SPXW p.m.-settled
expirations (i.e., SPXW options with Tuesday and Thursday expirations)
impacted the market quality of then-existing SPXW p.m.-settled
expirations (i.e., SPXW options with Monday, Wednesday, and Friday
expirations) provides a reasonable substitute to evaluate whether the
introduction of p.m.-settled index options impacted market quality when
the Program began.\50\ Therefore, the Exchange believes the results of
its analysis permit the Exchange to extrapolate that it is unlikely the
introduction of p.m.-settled XSP or p.m.-settled MRUT options
significantly impacted the market quality of a.m.-settled options, such
as a.m.-settled SPX or Russell 2000 options, respectively, when the
Program began.\51\
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    \45\ The Exchange calculated for each of SPXW options (with
Monday, Wednesday, and Friday expirations) and SPY Weekly options
(with Monday, Wednesday, and Friday expirations) the daily time-
weighted bid-ask spread on the Exchange during its regular trading
hours session, adjusted for the difference in size between SPXW
options and SPY options (SPXW options are approximately ten times
the value of SPY options).
    \46\ The Exchange calculated the volume-weighted average daily
effective spread for simple trades for each of SPXW options (with
Monday, Wednesday, and Friday expirations) and SPY Weekly options
(with Monday, Wednesday, and Friday expirations) as twice the amount
of the absolute value of the difference between an order execution
price and the midpoint of the national best bid and offer at the
time of execution, adjusted for the difference in size between SPXW
options and SPY options.
    \47\ For purposes of comparison, the Exchange paired SPXW
options and SPY options with the same moneyness and same days to
expiration.
    \48\ See Notice, 88 FR at 26364.
    \49\ See id.
    \50\ See Notice, 88 FR at 26364.
    \51\ See id. at 26365.
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    The Commission believes that the evidence contained in the
Exchange's filing, the Exchange's pilot data and reports, and the Pilot
Memo analysis demonstrate that the Program has benefitted investors and
other market participants by providing more flexible trading and
hedging opportunities while also having no disruptive impact on the
market. The market for p.m.-settled options has grown in size over the
course of the Program, and analysis of the pilot data did not identify
any significant economic impact on the underlying component securities
surrounding the close as a result of expiring p.m.-settled options nor
did it indicate a deterioration in market quality (as measured by bid-
ask and effective spreads) for an existing product when a new p.m.-
settled expiration was introduced. Further, significant changes in
closing procedures in the decades since index options moved to a.m.
settlement may also serve to mitigate the potential impact of p.m.-
settled index options on the underlying cash markets.
    Accordingly, the Commission finds that the proposed rule change is
consistent with section 6(b)(5) of the Act \52\ and the rules and
regulations thereunder applicable to a national securities exchange.
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    \52\ 15 U.S.C. 78f(b)(5).
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V. Conclusion

    It is therefore ordered, pursuant to section 19(b)(2) of the
Act,\53\ that the proposed rule change (SR-CBOE-2023-019) be, and
hereby is, approved.
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    \53\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\54\
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    \54\ 17 CFR 200.30-3(a)(12).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-20811 Filed 9-25-23; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: May 25, 2007 (Volume 72, Number 101)]
[Proposed Rules]
[Page 29287-29289]
[DOCID:fr25my07-18]

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ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 63

[EPA-HQ-OAR-2006-0859; FRL-8318-5]
RIN 2060-AN85

Risk and Technology Review, Phase II, Group 2

AGENCY: Environmental Protection Agency (EPA).

ACTION: Advanced Notice of Proposed Rulemaking (ANPRM); extension of
public comment period.

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SUMMARY: EPA is announcing that the comment period for the advanced
notice for proposed rulemaking for the Risk and Technology Review,
Phase II, Group 2 published on March 29, 2007, is being extended until
June 29, 2007, for all source categories except Petroleum Refineries.

DATES: Comments. The comment period has been extended from May 29,
2007. Comments must now be received on or before June 29, 2007.

ADDRESSES: Submit your comments, identified by Docket ID No. EPA-HQ-
OAR-2006-0859, by one of the following methods:
     http://www.regulations.gov. Follow the on-line instructions for

submitting comments.
     E-mail<EMAIL_ADDRESS>Attention Docket ID No.
EPA-HQ-OAR-2006-0859.
     Facsimile:<PHONE_NUMBER>, Attention Docket ID No. EPA-HQ-
OAR-2006-0859.
     Mail: U.S. Postal Service, send comments to: EPA Docket
Center (6102T), Attention E-Docket ID No. EPA-HQ-OAR-2006-0859, 1200
Pennsylvania Ave., NW., Washington, DC 20460. Please include a total of
two copies.
     Hand Delivery: In person or by courier, deliver comments
to: EPA Docket Center (6102T), EPA West, Room 3334, 1301 Constitution
Avenue, NW., Washington, DC 20004. Such deliveries are only accepted
during the Docket's normal hours of operation, and special arrangements
should be made for deliveries of boxed information. Please include a
total of two copies.
    Instructions: Direct your comments to Docket ID No. EPA-HQ-OAR-
2006-0859. As described further in section VII of the advanced notice
of proposed rulemaking, specific data change suggestions need to be
accompanied by supporting documentation that includes a description of
any assumptions used and any technical information and/or data that you
used. We strongly urge that all data revision comments be submitted in
the form of updated Microsoft(r) Access files, which are provided on
the http://www.epa.gov/ttn/atw/rrisk/rtrpg.html webpage. Data in the

form of written descriptions or other electronic file formats will be
difficult for EPA to translate into the necessary format in a timely
manner. Additionally, placing the burden on EPA to interpret data
submitted in other formats increases the possibility of
misinterpretation or errors. EPA's policy is that all comments received
will be included in the public docket without change and may be made
available online at http://www.regulations.gov, including any personal

information provided, unless the comment includes information claimed
to be Confidential Business Information (CBI) or other information
whose disclosure is restricted by statute. Do not submit information
that you consider to be CBI or otherwise protected through
http://www.regulations.gov, or e-mail. Send or deliver information identified

as CBI only to the following address: Mr. Roberto Morales, OAQPS
Document Control Officer, U.S. EPA (C404-02), Attention Docket ID No.
EPA-HQ-OAR-2006-0859, Research Triangle Park, NC 27711. Clearly mark
the part or all of the information that you claim to be CBI. The
http://www.regulations.gov Web site is an ``anonymous access'' system, which

means EPA will not know your identity or contact information unless you
provide it in the body of your comment. If you send an e-mail comment
directly to EPA without going through http://www.regulations.gov, your e-mail

address will be automatically captured and included as part of the
comment that is placed in the public docket and made available on the
Internet. If you submit an electronic comment, EPA recommends that you
include your name and other contact information in the body of your
comment and with any disk or CD-ROM you submit. If EPA cannot read your
comment due to technical difficulties and cannot contact you for
clarification, EPA may not be able to consider your comment. Electronic
files should avoid the use of special characters, any form of
encryption, and be free of any defects or viruses.
    Docket: All documents in the docket are listed in the
http://www.regulations.gov index. Although listed in the index, some

information is not publicly available, (i.e., CBI or other information
whose disclosure is restricted by statute). Certain other material,
such as copyrighted material will be publicly available only in hard
copy. Publicly available docket materials are available either
electronically in http://www.regulations.gov or in hard copy at the EPA Docket

Center, EPA West, Room 3334, 1301 Constitution Ave., NW., Washington,
DC. The Public Reading Room is open from 8:30 a.m. to 4:30 p.m., Monday
through Friday, excluding legal holidays. The telephone number for the
Public Reading Room is<PHONE_NUMBER>, and the telephone number for the
EPA Docket Center is<PHONE_NUMBER>.

FOR FURTHER INFORMATION CONTACT: Paula Hirtz, Office and Air Quality
Planning and Standards, Sector Policies and Programs Division, Coatings
and Chemicals Group (E143-01), Environmental Protection Agency,
Research Triangle Park, NC 27711; telephone number:<PHONE_NUMBER>; fax
number:<PHONE_NUMBER>; and e-mail address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: Regulated Entities. Entities potentially
affected by this action include facilities containing any one or more
of the 22 major source categories subject to the 12 national emission
standards for hazardous air pollutants (NESHAP) (or commonly referred
to maximum achievable control technology (MACT) standards) listed in
Table 1. The Petroleum Refineries source category is affected by this
action, but will not receive an extension of the comment period due to
the court-ordered deadline of August 22, 2007, for proposal of the
technology review. This action does not affect area sources, as these
NESHAP do not apply to area sources. Industries regulated by these MACT
are classified by the North American Industry Classification System
(NAICS) codes shown in Table 1. In addition, a classification system of
MACT codes has been developed and is used in the 2002 National
Emissions Inventory to identify processes included in each MACT source
category. The MACT codes for the 22 source categories addressed in this
notice are also displayed in Table 1.

Table 1.--MACT Standards, Source Categories, and Corresponding NAICS and
                   MACT Codes Addressed by This ANPRM
------------------------------------------------------------------------
                                                      NAICS       MACT
        MACT standard/source category name             code       code
------------------------------------------------------------------------
Mineral Wool Production...........................     327993       0409
Aerospace Manufacturing and Rework Facilities.....     336411       0701
Marine Tank Vessel Loading Operations.............       4883       0603
Natural Gas Transmission and Storage..............     486210       0504
Oil and Natural Gas Production....................        211       0501
Petroleum Refineries..............................      32411       0503
Pharmaceuticals Production........................       3254       1201

Group I Polymers and Resins:
    Epichlorohydrin Elastomers Production.........     325212       1311
    HypalonTM Production..........................     325212       1315
    Nitrile Butadiene Rubber Production...........     325212       1321
    Polybutadiene Rubber Production...............     325212       1325
    Styrene-Butadiene Rubber and Latex Production.     325212       1339
Group IV Polymers and Resins:
    Acrylic-Butadiene-Styrene Production..........     325211       1302
    Methyl Methacrylate-Acrylonitrile-Butadiene-       325211       1317
     Styrene Production...........................
    Methyl Methacrylate-Butadiene-Styrene              325211       1318
     Production...................................
    Nitrile Resins Production.....................     325211       1342
    Polyethylene Terephthalate Production.........     325211       1328
    Polystyrene Production........................     325211       1331
    Styrene-Acrylonitrile Production..............     325211       1338
Primary Aluminum Reduction Plants.................     331312       0201
Printing and Publishing Industry..................      32311       0714
Shipbuilding and Ship Repair Operations...........     336611       0715
------------------------------------------------------------------------

    Worldwide Web (WWW). In addition to being available in the docket,
an electronic copy of today's notice will be available on the WWW
through the Technology Transfer Network (TTN). Following the Assistant
Administrator's signature, a copy of this notice will be posted on
TTN's policy and guidance page for newly proposed or promulgated rules
at http://www.epa.gov/ttn/oarpg. The TTN provides information and

technology exchange in various areas of air pollution control.
Additional information is available on the Risk and Technology Review
Phase II webpage at http://www.epa.gov/ttn/atw/rrisk/rtrpg.html. This

information includes source category descriptions and detailed
emissions and other data that will be used as model inputs.

Comment Period

    We received 15 requests to extend the public comment period on the
advance notice of proposed rulemaking for the Risk and Technology
Review, Phase II, Group 2 (72 FR 14734, March 29, 2007). We are
extending the comment period to June 29, 2007, for all source
categories except Petroleum Refineries. EPA is under a court-ordered
deadline to propose action on the technology review for this source
category by August 22, 2007. All comments for Petroleum Refineries must
be received by May 29, 2007. Public comments must be received on or
before June 29, 2007 for all other source categories.

How can I get copies of the proposed amendments and other related
information?

    EPA has established the official public docket for the proposed
rulemaking under Docket ID No. EPA-HQ-OAR-2006-0859. Information on how
to access the docket is presented above in the ADDRESSES section. In
addition, information may be obtained from the Web page for the
proposed rulemaking at: http://www.epa.gov/ttn/atw/rrisk/rtrpg.html.

    Dated: May 18, 2007.
William L. Wehrum,
Acting Assistant Administrator for Air and Radiation.
[FR Doc. E7-10128 Filed 5-24-07; 8:45 am]

BILLING CODE 6560-50-P


[Federal Register Volume 87, Number 188 (Thursday, September 29, 2022)]
[Notices]
[Pages 59070-59071]
[FR Doc No: 2022-21152]

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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:

Filings Instituting Proceedings

    Docket Numbers: PR22-67-000.
    Applicants: Comanche Trail Pipeline, LLC.
    Description: Sec.  284.123(g) Rate Filing: Comanche Trail Pipeline,
LLC. Certification of Unchanged State Rates, 10/1/2022 to be effective
10/1/2022.
    Filed Date: 9/22/22.
    Accession Number: 20220922-5068.
    Comment Date: 5 p.m. ET 10/13/22.
    Sec.  284.123(g) Protest: 5 p.m. ET 11/21/22.

    Docket Numbers: PR22-68-000.
    Applicants: Trans-Pecos Pipeline, LLC.
    Description: Sec.  284.123(g) Rate Filing: Trans-Pecos Pipeline,
LLC Certification of Unchanged State Rates, 10/1/2022 to be effective
10/1/2022.
    Filed Date: 9/22/22.
    Accession Number: 20220922-5069.
    Comment Date: 5 p.m. ET 10/13/22.
    Sec.  284.123(g) Protest: 5 p.m. ET 11/21/22.

    Docket Numbers: RP22-1236-000.

    Applicants: Midcontinent Express Pipeline LLC.
    Description: Sec.  4(d) Rate Filing: Non-Conforming FTS to be
effective 11/1/2022.
    Filed Date: 9/23/22.
    Accession Number: 20220923-5005.
    Comment Date: 5 p.m. ET 10/5/22.

    Docket Numbers: RP22-1237-000.
    Applicants: Guardian Pipeline, L.L.C.
    Description: Sec.  4(d) Rate Filing: EPCR Semi-Annual Adjustment--
Fall 2022 to be effective 11/1/2022.
    Filed Date: 9/23/22.
    Accession Number: 20220923-5022.
    Comment Date: 5 p.m. ET 10/5/22.

    Docket Numbers: RP22-1238-000.
    Applicants: Midwestern Gas Transmission Company.
    Description: Sec.  4(d) Rate Filing: Annual Load Management Service
Cost Reconciliation Adjustment--2022 to be effective 11/1/2022.
    Filed Date: 9/23/22.
    Accession Number: 20220923-5023.
    Comment Date: 5 p.m. ET 10/5/22.
    Docket Numbers: RP22-1239-000.
    Applicants: Viking Gas Transmission Company.
    Description: Sec.  4(d) Rate Filing: Semi-Annual Fuel and Loss
Retention Percentage Adjustment--Winter 2022 to be effective 11/1/2022.
    Filed Date: 9/23/22.
    Accession Number: 20220923-5024.
    Comment Date: 5 p.m. ET 10/5/22.
    Docket Numbers: RP22-1240-000.
    Applicants: Guardian Pipeline, L.L.C.
    Description: Sec.  4(d) Rate Filing: Transporters Use Gas Annual
Adjustment--Fall 2022 to be effective 11/1/2022.
    Filed Date: 9/23/22.
    Accession Number: 20220923-5029.
    Comment Date: 5 p.m. ET 10/5/22.
    Docket Numbers: RP22-1241-000.
    Applicants: Algonquin Gas Transmission, LLC.
    Description: Compliance filing: AGT SEP 2022 OFO Penalty
Disbursement Report to be effective N/A.
    Filed Date: 9/23/22.
    Accession Number: 20220923-5034.
    Comment Date: 5 p.m. ET 10/5/22.

    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. The filings are accessible in the Commission's eLibrary
system (https://elibrary.ferc.gov/idmws/search/fercgensearch.asp) by
querying the docket number. 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: September 23, 2022.
Kimberly D. Bose,
Secretary.
[FR Doc. 2022-21152 Filed 9-28-22; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 80, Number 248 (Monday, December 28, 2015)]
[Notices]
[Pages 80789-80790]
[FR Doc No: 2015-32661]

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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

[Docket No. USCG-2015-0637]

Collection of Information Under Review by Office of Management
and Budget; OMB Control Number: 1625-0108

AGENCY: Coast Guard, DHS.

ACTION: Thirty-day notice requesting comments.

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

SUMMARY: In compliance with the Paperwork Reduction Act of 1995 the
U.S. Coast Guard is forwarding an Information Collection Request (ICR),
abstracted below, to the Office of Management and Budget (OMB), Office
of Information and Regulatory Affairs (OIRA), requesting approval of a
revision to the following collection of information: 1625-0108,
Standard Numbering System for Undocumented Vessels. Our ICR describes
the information we seek to collect from the public. Review and comments
by OIRA ensure we only impose paperwork burdens commensurate with our
performance of duties.

DATES: Comments must reach the Coast Guard and OIRA on or before
January 27, 2016.

ADDRESSES: You may submit comments identified by Coast Guard docket
number [USCG-2015-0637] to the Coast Guard using the Federal
eRulemaking Portal at http://www.regulations.gov. Alternatively, you
may submit comments to OIRA using one of the following means:
    (1) Email<EMAIL_ADDRESS>    (2) Mail: OIRA, 725 17th Street NW., Washington, DC 20503,
attention Desk Officer for the Coast Guard.
    (3) Fax:<PHONE_NUMBER>. To ensure your comments are received in a
timely manner, mark the fax, attention Desk Officer for the Coast
Guard.
    A copy of the ICR is available through the docket on the Internet
at http://www.regulations.gov. Additionally, copies are available from:
Commandant (CG-612), Attn: Paperwork Reduction Act Manager, U.S. Coast
Guard, 2703 Martin Luther King Jr. Ave. SE., Stop 7710, Washington, DC
20593-7710.

FOR FURTHER INFORMATION CONTACT: Mr. Anthony Smith, Office of
Information Management, telephone<PHONE_NUMBER>, or fax<PHONE_NUMBER>,
for questions on these documents.

SUPPLEMENTARY INFORMATION:

Public Participation and Request for Comments

    This Notice relies on the authority of the Paperwork Reduction Act
of 1995; 44 U.S.C. chapter 35, as amended. An ICR is an application to
OIRA seeking the approval, extension, or renewal of a Coast Guard
collection of information (Collection). The ICR contains information
describing the Collection's purpose, the Collection's likely burden on
the affected public, an explanation of the necessity of the Collection,
and other important information describing the Collection. There is one
ICR for each Collection. The Coast Guard invites comments on whether
this ICR should be granted based on the Collection being necessary for
the proper performance of Departmental functions. In particular, the
Coast Guard would appreciate comments addressing: (1) The practical
utility of the Collection; (2) the accuracy of the estimated burden of
the Collection; (3) ways to enhance the quality, utility, and clarity
of information subject to the Collection; and (4) ways to minimize the
burden of the Collection on respondents, including the use of automated
collection techniques or other forms of information technology. These
comments will help OIRA determine whether to approve the ICR referred
to in this Notice.
    We encourage you to respond to this request by submitting comments
and related materials. Comments to Coast Guard or OIRA must contain the
OMB Control Number of the ICR. They must also contain the docket number
of this request, [USCG-2015-0637], and must be received by January 27,
2016.

Submitting Comments

    We encourage you to submit comments through the Federal eRulemaking
Portal at http://www.regulations.gov. If your material cannot be
submitted using http://www.regulations.gov, contact the person in the
FOR FURTHER INFORMATION CONTACT section of this document for alternate
instructions. Documents mentioned in this notice, and all public
comments, are in our online docket at http://www.regulations.gov and
can be viewed by following that Web site's instructions. Additionally,
if you go to the online docket and sign up for email alerts, you will
be notified when comments are posted.
    We accept anonymous comments. All comments received will be posted
without change to http://www.regulations.gov and will include any
personal information you have provided. For more about privacy and the
docket, you may review a Privacy Act notice regarding the Federal
Docket Management System in the March 24, 2005, issue of the Federal
Register (70 FR 15086).
    OIRA posts its decisions on ICRs online at http://www.reginfo.gov/public/do/PRAMain after the comment period for each ICR. An OMB Notice
of Action on each ICR will become available via a hyperlink in the OMB
Control Number: 1625-0108.

Previous Request for Comments

    This request provides a 30-day comment period required by OIRA. The
Coast Guard published the 60-day notice (80 FR 62080, October 15, 2015)
required by 44 U.S.C. 3506(c)(2). That Notice elicited no comments.
Accordingly, no changes have been made to the Collections.

Information Collection Request

    1. Title: Standard Numbering System for Undocumented Vessels.
    OMB Control Number: 1625-0108.
    Summary: The Standard Numbering System collects information on
undocumented vessels and vessel owners operating on waters subject to
the jurisdiction of the United States. Federal, State, and local law
enforcement agencies use information from the system for enforcement of
boating laws or theft and fraud investigations. Since the September 11,
2001 terrorist attacks on the United States, the need has increased for
identification of undocumented vessels to meet port security and other
missions to safeguard the homeland.
    Need: Subsection 12301(a) of title 46, United States Code, requires
undocumented vessels equipped with propulsion machinery of any kind to
be numbered in the State where the vessel is principally operated. In
46 U.S.C. 12302(a), Congress authorized the Secretary to prescribe, by
regulation, a Standard Numbering System (SNS). The Secretary shall
approve a State

numbering system if that system is consistent with the SNS. The
Secretary has delegated his authority under 46 U.S.C. 12301 and 12302
to Commandant of the U.S. Coast Guard. DHS Delegation No. 0170.1. The
regulations requiring the numbering of undocumented vessels are in 33
CFR part 173, and regulations establishing the SNS for States to
voluntarily carry out this function are contained in part 174.
    In States that do not have an approved system, the Federal
Government (U.S. Coast Guard) must administer the vessel numbering
system. Currently, all 56 States and Territories have approved
numbering systems. The approximate number of undocumented vessels
registered by the States in 2014 was nearly 12 million.
    The SNS collects information on undocumented vessels and vessel
owners. States submit reports annually to the Coast Guard on the
number, size, construction, etc., of vessels they have numbered. That
information is used by the Coast Guard in (1) publication of an annual
``Boating Statistics'' report required by 46 U.S.C. 6102(b), and (2)
for allocation of Federal funds to assist States in carrying out the
Recreational Boating Safety (RBS) Program established by 46 U.S.C.
chapter 131.
    On a daily basis or as warranted, Federal, State, and local law
enforcement personnel use SNS information from the States' numbering
system for enforcement of boating laws or theft and fraud
investigations. In addition, when encountering a vessel suspected of
illegal activity, information from the SNS increases officer safety by
assisting boarding officers in determining how best to approach a
vessel. Since, the September 11, 2001 terrorist attacks on the United
States, the need has increased for identification of undocumented
vessels and their owners for port security and other missions to
safeguard the homeland, although the statutory requirement for
numbering of vessels dates back to 1918.
    Forms: None.
    Respondents: Owners of all undocumented vessels propelled by
machinery are required by Federal law to apply for a number from the
issuing authority of the State in which the vessel is to be principally
operated. In addition, States may require other vessels, such as
sailboats or even canoes and kayaks, to be numbered. ``Owners'' may
include individuals or households, non-profit organizations, and small
businesses (e.g., liveries that offer recreational vessels for rental
by the public) or other for-profit organizations.
    Frequency: On occasion. There are no recordkeeping requirements for
this information collection.
    Hour Burden Estimate: The estimated burden has decreased from
286,458 hours to 257,986 hours a year due to a change in methodology.

    Authority:  The Paperwork Reduction Act of 1995; 44 U.S.C.
chapter 35, as amended.

    Dated: December 21, 2015.
Thomas P. Michelli,
 Deputy Chief Information Officer, U.S. Coast Guard.
[FR Doc. 2015-32661 Filed 12-24-15; 8:45 am]
 BILLING CODE 9110-04-P


[Federal Register Volume 80, Number 29 (Thursday, February 12, 2015)]
[Notices]
[Pages 7861-7862]
[FR Doc No: 2015-02929]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 2662-022]

FirstLight Hydro Generating Company; Notice of Application for
Amendment of License and Soliciting Comments, Motions To Intervene, and
Protests

    Take notice that the following hydroelectric application has been
filed with the Commission and is available for public inspection:
    a. Application Type: Recreation Plan pursuant to Article 416.
    b. Project No: 2662-022.
    c. Date Filed: November 14, 2014 and supplemented on January 22,
2015.
    d. Applicant: FirstLight Hydro Generating Company.
    e. Name of Project: Scotland Hydroelectric Project.
    f. Location: The project is located on the Shetucket River, in
Windham County, Connecticut.
    g. Filed Pursuant to: Federal Power Act, 16 U.S.C. 791a-825r.
    h. Applicant Contact: Mr. Richard T. Laudenat, P.E., Plant Manager,
FirstLight Power Resources, LLC, 143 West Street Suite E, New Milford,
CT 06776,<PHONE_NUMBER>.
    i. FERC Contact: Krista Sakallaris at<PHONE_NUMBER>,
<EMAIL_ADDRESS>    j. Deadline for filing comments, motions to intervene, and
protests: March 9, 2015.
    All documents may be filed electronically via the Internet. See 18
CFR 385.2001(a)(1)(iii) and the instructions on the Commission's Web
site at http://www.ferc.gov/docs-filing/efiling.asp. Commenters can
submit brief comments up to 6,000 characters, without prior
registration, using the eComment system at http://www.ferc.gov/docs-filing/ecomment.asp. You must include your name and contact information
at the end of your comments. For assistance, please contact FERC Online
Support at<EMAIL_ADDRESS>or toll free at 1-866-208-3676,
or for TTY,<PHONE_NUMBER>. Although the Commission strongly encourages
electronic filing, documents may also be paper-filed. To paper-file,
mail an original and seven copies to: Secretary, Federal Energy
Regulatory Commission, 888 First Street NE., Washington, DC 20426.
Please include the project number (p-2662-022) on any comments,
motions, or recommendations filed.
    The Commission's Rules of Practice and Procedure require all
intervenors filing documents with the Commission to serve a copy of
that document on each person whose name appears on the official service
list for the project. Further, if an intervenor files comments or
documents with the Commission relating to the merits of an issue that
may affect the responsibilities of a particular resource agency, they
must also serve a copy of the document on that resource agency.
    k. Description of Request: The licensee's recreation plan proposes
to relocate the existing tailrace fishing access area from the east
bank of the Shetucket River (river), as required by Article 416, to the
west bank of the river. The proposed change in location is due to the
presence of an existing railroad that runs parallel to the shoreline.
The railroad prohibits the public from to crossing railroad property to
access the east bank for fishing due to safety concerns. Consequently,
the informal path to the river has been closed. If the recreation plan
is approved, the licensee would relocate the tailrace fishing access
area to the tailrace section on the west bank of the river. The new
site would be accessible to the public by watercraft only. The licensee
is proposing this location to keep the fishing access area within the
tailrace and to maintain the characteristics of its previously provided
area.
    l. Locations of the Application: A copy of the application is
available for inspection and reproduction at the Commission's Public
Reference Room, located at 888 First Street NE., Room 2A, Washington,
DC 20426, or by calling<PHONE_NUMBER>. This filing may also 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. You may also
register online at http://www.ferc.gov/docs-filing/esubscription.asp to
be notified via email of new filings and issuances related to this or
other pending projects. For assistance, call 1-866-208-3676 or email
<EMAIL_ADDRESS>for TTY, call<PHONE_NUMBER>. A copy is
also available for inspection and reproduction at the address in item
(h) above. Agencies may obtain copies of the application directly from
the applicant.
    m. Individuals desiring to be included on the Commission's mailing
list should so indicate by writing to the Secretary of the Commission.
    n. Comments, Protests, or Motions to Intervene: Anyone may submit
comments, a protest, or a motion to intervene in accordance with the
requirements of Rules of Practice and Procedure, 18 CFR 385.210, .211,
.214, respectively. In determining the appropriate action to take, the
Commission will consider all protests or other comments filed, but only
those who file a motion to intervene in accordance with the
Commission's Rules may become a party to the proceeding. Any comments,
protests, or motions to intervene must be received on or before the
specified comment date for the particular application.
    o. Filing and Service of Documents: Any filing must (1) bear in all
capital letters the title ``COMMENTS'', ``PROTEST'', or ``MOTION TO
INTERVENE'' as applicable; (2) set forth in the heading the name of the
applicant and the project number of the application to which the filing
responds; (3) furnish the name, address, and telephone number of the
person

commenting, protesting or intervening; and (4) otherwise comply with
the requirements of 18 CFR 385.2001 through 385.2005. All comments,
motions to intervene, or protests must set forth their evidentiary
basis. Any filing made by an intervenor must be accompanied by proof of
service on all persons listed in the service list prepared by the
Commission in this proceeding, in accordance with 18 CFR 385.2010.

    Dated: February 5, 2015.
Kimberly D. Bose,
Secretary.
[FR Doc. 2015-02929 Filed 2-11-15; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 78, Number 139 (Friday, July 19, 2013)]
[Notices]
[Page 43270]
[FR Doc No: 2013-17280]

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DEPARTMENT OF TRANSPORTATION

Pipeline and Hazardous Materials Safety Administration

Office of Hazardous Materials Safety; Notice of Application for
Special Permits

AGENCY: Pipeline and Hazardous Materials Safety Administration (PHMSA),
DOT.

ACTION: List of Applications for Special Permits.

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

SUMMARY: In accordance with the procedures governing the application
for, and the processing of, special permits from the Department of
Transportation's Hazardous Material Regulations (49 CFR Part 107,
subpart B), notice is hereby given that the Office of Hazardous
Materials Safety has received the application described herein. Each
mode of transportation for which a particular special permit is
requested is indicated by a number in the ``Nature of Application''
portion of the table below as follows: 1--Motor vehicle, 2--Rail
freight, 3--Cargo vessel, 4--Cargo aircraft only, 5--Passenger-carrying
aircraft.

DATES: Comments must be received on or before August 19, 2013.
    Address Comments To: Record Center, Pipeline and Hazardous
Materials Safety Administration, U.S. Department of Transportation,
Washington, DC 20590.
    Comments should refer to the application number and be submitted in
triplicate. If confirmation of receipt of comments is desired, include
a self-addressed stamped postcard showing the special permit number.

FOR FURTHER INFORMATION CONTACT: Copies of the applications are
available for inspection in the Records Center, East Building, PHH-30,
1200 New Jersey Avenue Southeast, Washington DC or at http://regulations.gov.
    This notice of receipt of applications for special permit is
published in accordance with Part 107 of the Federal hazardous
materials transportation law (49 U.S.C. 5117(b); 49 CFR 1.53(b)).

    Issued in Washington, DC, on July 15, 2013.
Donald Burger,
Chief, General Approvals and Permits.

----------------------------------------------------------------------------------------------------------------
                                                                         Regulation(s)       Nature of special
Application No.     Docket No.                 Applicant                    affected          permits thereof
----------------------------------------------------------------------------------------------------------------
                                               NEW SPECIAL PERMITS
----------------------------------------------------------------------------------------------------------------
15865-N........  ...............  HeliStream Inc. Costa Mesa, CA.....  49 CFR 49 CFR      To authorize the
                                                                        Table Sec.         transportation in
                                                                        172.101,           commerce of certain
                                                                        Column(9B), Sec.   hazardous materials
                                                                          172.204(c)(3),   by 14 CFR Part 133
                                                                        Sec.               Rotorcraft External
                                                                        173.27(b)(2)       Load Operations
                                                                        Sec.               transporting
                                                                        175.30(a)(1)       hazardous materials
                                                                        Sec.   172.200,    attached to or
                                                                        172.300, and       suspended from an
                                                                        172.400.           aircraft, in remote
                                                                                areas of the US only,
                                                                                without being subject
                                                                                to hazard
                                                                                communication
                                                                                requirements,
                                                                                quantity limitations
                                                                                and certain loading
                                                                                and stowage
                                                                                requirements. (mode
                                                                                4)
15880-N........  ...............  Viking Packing Specialist Catoosa,   49 CFR 173.60....  Authorizes the
                                   OK.                                                     transportation in
                                                                                commerce of not more
                                                                                than 5 grams of
                                                                                Division 1.4C
                                                                                materials in a
                                                                                special shipping
                                                                                container. (modes 1,
                                                                                4, 5)
15881-N........  ...............  Chart Industries, Inc. Ball Ground,  49 CFR             To authorize the
                                   GA.                                  180.211(c)(2)(i).  repair of certain DOT
                                                                                4L cylinders without
                                                                                requiring pressure
                                                                                testing. (mode 1)
15882-N........  ...............  Ryan Air Anchorage, AK.............  49 CFR 172.101     To authorize the
                                                                        Table Column       transportation in
                                                                        (9B), 173.27 and   commerce of certain
                                                                        173.243.           Class 3 fuels in non-
                                                                                DOT specification
                                                                                bulk packaging by
                                                                                cargo aircraft. (mode
                                                                                4)
----------------------------------------------------------------------------------------------------------------

[FR Doc. 2013-17280 Filed 7-18-13; 8:45 am]
BILLING CODE 4909-60-P


[Federal Register Volume 84, Number 76 (Friday, April 19, 2019)]
[Notices]
[Pages 16479-16480]
[FR Doc No: 2019-07948]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 2576-186]

FirstLight Hydro Generating Co.; Notice of Application Accepted
for Filing and Soliciting Comments, Motions To Intervene, and Protests

    Take notice that the following hydroelectric application has been
filed with the Commission and is available for public inspection:
    a. Application Type: Updated Shoreline Management Plan.
    b. Project No: 2576-186.
    c. Date Filed: March 27, 2019.
    d. Applicant: FirstLight Hydro Generating Co.
    e. Name of Project: Housatonic River Project.
    f. Location: The Housatonic River in Fairfield, New Haven, and
Litchfield counties, Connecticut.
    g. Filed Pursuant to: Federal Power Act, 16 U.S.C. 791a-825r.
    h. Applicant Contact: John Howard, FirstLight Power Resources, 143
West Street Ext., Suite E, P.O. Box 5002, New Milford, CT 06776, (860)
350-3617.
    i. FERC Contact: Mark Carter,<PHONE_NUMBER>, [email protected].
    j. Deadline for filing comments, motions to intervene, and
protests: May 15, 2019.
    The Commission strongly encourages electronic filing. Please file
comments, motions to intervene, and protests using the Commission's
eFiling system at http://www.ferc.gov/docs-filing/efiling.asp.
Commenters can submit brief comments up to 6,000 characters, without
prior registration, using the eComment system at http://www.ferc.gov/docs-filing/ecomment.asp. You must include your name and contact
information at the end of your comments. For assistance, please contact
FERC Online Support at [email protected], (866)

208-3676 (toll free), or<PHONE_NUMBER> (TTY). In lieu of electronic
filing, please send a paper copy to: Secretary, Federal Energy
Regulatory Commission, 888 First Street NE, Washington, DC 20426. The
first page of any filing should include docket number P-2576-186.
Comments emailed to Commission staff are not considered part of the
Commission record.
    The Commission's Rules of Practice and Procedure require all
intervenors filing documents with the Commission to serve a copy of
that document on each person whose name appears on the official service
list for the project. Further, if an intervenor files comments or
documents with the Commission relating to the merits of an issue that
may affect the responsibilities of a particular resource agency, they
must also serve a copy of the document on that resource agency.
    k. Description of Request: As required by ordering paragraph (I) of
the March 27, 2013 Order Modifying and Approving Shoreline Management
Plan Pursuant to Article 407, FirstLight Hydro Generating Co.
(licensee) underwent a six-year review process (including stakeholder
consultation) and as a result, requests Commission approval of an
updated shoreline management plan (SMP) for the project. The licensee
proposes several changes to the approved SMP, including changes to the
following: (1) A fee schedule for non-project shoreline uses; (2) the
shoreline buffer rules; (3) consultation requirements (e.g.,
reinstituting Lake and River Advisory Committee meetings); (4)
shoreline activity annual reporting requirements; and (5) various other
changes to the approved SMP.
    l. Locations of the Application: A copy of the application is
available for inspection and reproduction at the Commission's Public
Reference Room, located at 888 First Street NE, Room 2A, Washington, DC
20426, or by calling<PHONE_NUMBER>. This filing may also be viewed on
the Commission's website 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. You may also register
online at http://www.ferc.gov/docs-filing/esubscription.asp to be
notified via email of new filings and issuances related to this or
other pending projects. For assistance, call 1-866-208-3676 or email
[email protected], for TTY, call<PHONE_NUMBER>. A copy is
also available for inspection and reproduction at the address in item
(h) above. Agencies may obtain copies of the application directly from
the applicant.
    m. Individuals desiring to be included on the Commission's mailing
list should so indicate by writing to the Secretary of the Commission.
    n. Comments, Protests, or Motions to Intervene: Anyone may submit
comments, a protest, or a motion to intervene in accordance with the
requirements of Rules of Practice and Procedure, 18 CFR 385.210, .211,
.214, respectively. In determining the appropriate action to take, the
Commission will consider all protests or other comments filed, but only
those who file a motion to intervene in accordance with the
Commission's Rules may become a party to the proceeding. Any comments,
protests, or motions to intervene must be received on or before the
specified comment date for the particular application.
    o. Filing and Service of Documents: Any filing must (1) bear in all
capital letters the title ``COMMENTS'', ``PROTEST'', or ``MOTION TO
INTERVENE'' as applicable; (2) set forth in the heading the name of the
applicant and the project number of the application to which the filing
responds; (3) furnish the name, address, and telephone number of the
person commenting, protesting or intervening; and (4) otherwise comply
with the requirements of 18 CFR 385.2001 through 385.2005. All
comments, motions to intervene, or protests must set forth their
evidentiary basis. Any filing made by an intervenor must be accompanied
by proof of service on all persons listed in the service list prepared
by the Commission in this proceeding, in accordance with 18 CFR
385.2010.

    Dated: April 15, 2019.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2019-07948 Filed 4-18-19; 8:45 am]
 BILLING CODE 6717-01-P


[Federal Register: October 8, 2008 (Volume 73, Number 196)]
[Notices]
[Page 59017-59019]
[DOCID:fr08oc08-115]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-58708; File No. SR-NYSE-2008-92]

Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of a Proposed Rule Change
To Extend the Operation of Reserve Orders on the Exchange to the
Earlier of December 31, 2008 or the Date on Which the Commission
Approves the Exchange's Filing Pursuant to SR-NYSE-2008-46

October 1, 2008.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule19b-4 thereunder,\2\ notice is hereby given that
on September 29, 2008, New York Stock Exchange LLC (``NYSE'' or the
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I and
II below, which Items have been prepared by the Exchange. The
Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to extend the operation of Reserve Orders on
the Exchange to the earlier of December 31, 2008 or the date on which
the Commission approves the Exchange's filing pursuant to SR-NYSE-2008-
46. The text of the proposed rule change is available at NYSE, http://
www.nyse.com, and the Commission's Public Reference Room.

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

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

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

1. Purpose
    The New York Stock Exchange LLC (``NYSE'' or the ``Exchange'')
proposes to amend NYSE Rule 13 to extend the operation of its Reserve
Order pilot to the earlier of December 31, 2008 or the approval date of
the Exchange's New Market Model \3\ pilot.
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    \3\ See Securities Exchange Act Release No. 58184 (July 17,
2008), 73 FR 42853 (July 23, 2008) (SR-NYSE-2008-46) (``New Market
Model filing'').
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Background
    Reserve Orders were approved by the Commission on April 18, 2008
\4\ and instituted on the Exchange on April 23, 2008. Reserve Orders
are limit orders available to all market participants that enable them
to maintain non-displayed liquidity on the Exchange's Display Book
system[reg] (``Display Book'') for execution.\5\ A portion of the
interest represented by a Reserve Order is published (displayed) when
it is or becomes the Exchange best bid or offer, while the remaining
interest is not displayed, i.e., is held in ``reserve.'' This reserved
portion is used to replenish the displayed amount (which is required to
be at least one round lot) when trades reduce or exhaust such displayed
interest. Both displayed and reserve interest is available for
automatic execution on the Exchange. With respect to the portion of
Reserve Orders that is not displayed, this interest is available for
execution only after all displayed interest at the Exchange bid or
offer has been executed.
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    \4\ See Securities Exchange Act Release No. 57688 (April 18,
2008), 73 FR 22194 (April 24, 2008) (SR-NYSE-2008-30). The pilot
initially operated in 100 NYSE-traded securities. The Exchange
subsequently filed with the Commission to expand the operation of
the pilot to all NYSE-traded securities. See Securities Exchange Act
Release No. 57792 (May 7, 2008), 73 FR 27601 (May 13, 2008) (SR-
NYSE-2008-36).
    \5\ The Display Book[reg] system is an order management and
execution facility. The Display Book system receives and displays
orders to the specialists, contains the Book, and provides a
mechanism to execute and report transactions and publish the results
to the Consolidated Tape. The Display Book system is connected to a
number of other Exchange systems for the purposes of comparison,
surveillance, and reporting information to customers and other
market data and national market systems.
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    Reserve Orders are also available for manual execution. While the
majority of transactions on the Exchange are executed electronically,
there are times when manual execution is required. In these situations,
specialists seek information on the available interest at various price
points to determine the appropriate price at which to complete the
manual execution. As with reserve interest in a Floor broker's agency
interest file, information on reserve interest entered directly into
Exchange systems through Reserve Orders will be made available to the
specialist only in the aggregate at each price point for the express
purpose of the specialist effecting a manual execution. The reserve
interest is not distinguished from other interest available to be
executed at a specific price point. Rather, Exchange systems display to
the specialist the total number of shares available for execution at
the price point and include reserve interest in the total number. In
this manner such reserve interest will be available for trades that
take place on the Floor of the Exchange that will not be conducted
automatically.
Extension of the Reserve Order Pilot
    The Exchange has proposed in the New Market Model filing to expand
Reserve Orders to include a Minimum Display Reserve Order and a Non-
Displayed Reserve Order. The latter type of reserve interest for all
market participants would not have any of the order designated for
display. The Exchange proposed to create the Non-Displayed Reserve
Order for Off-Floor participants and provide Floor brokers and
specialists \6\ with equivalent functionality.\7\
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    \6\ In the New Market Model, specialists will be replaced by
``designated market makers'' or ``DMMs''.
    \7\ See New Market Model filing, Securities Exchange Act Release
No. 58184 (July 17, 2008), 73 FR 42853 (July 23, 2008) (SR-NYSE-
2008-46).
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    The Reserve Order type currently operating on the Exchange has been
accepted by the Exchange's customer base and is currently being used
actively. The Exchange believes that by providing all market
participants with the ability to maintain non-displayed liquidity on
the Display Book encourages market participants to post liquidity and
thus offers Exchange customers additional opportunities for price
improvement by expanding the interest available to execute against
incoming orders at a single price. The Exchange therefore seeks to
continue the pilot for Reserve Orders with a minimum display
requirement until the earlier of December 31, 2008 or such time as the
New Market Model filing is approved.
2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with
and furthers the objectives of Section 6(b)(5) \8\ of the Act, in that
it is designed to prevent fraudulent and manipulative practices, to
promote just and equitable principles of trade, to remove impediments
to, and perfect the mechanisms of, a free and open market and a
national market system, and, in general, to protect investors and the
public interest.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

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

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

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

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

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

    The proposed rule change has become effective pursuant to Section
19(b)(3)(A) of the Act\9\ and Rule 19b-4(f)(6) thereunder\10\ because
the foregoing proposed rule change: (1) Does not significantly affect
the protection of investors or the public interest; (2) does not impose
any significant burden on competition; and (3) by its terms, does not
become operative for 30 days after the date of filing, or such shorter
time as the Commission may designate if consistent with the protection
of investors and the public interest.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78s(b)(3)(A).
    \10\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) normally may
not become operative prior to 30 days after the date of filing.\11\
However, Rule 19b-4(f)(6)(iii) permits the Commission to designate a
shorter time if such action is consistent with the protection of
investors and the public interest. The Exchange has asked the
Commission to waive the 30-day operative delay, as specified in Rule
19b-4(f)(6)(iii),\12\ which would make the rule change effective and
operative upon filing. The Commission believes that waiving the

30-day operative delay is consistent with the protection of investors
and the public interest because the proposal is designed to extend the
operation of the existing Reserve Order pilot without interruption.
Extending the Reserve Order pilot would continue to enable off-Floor
market participants to compete through their ability to maintain non-
displayed liquidity on the Exchange's Display Book system. Accordingly,
the Commission designates the proposed rule change effective and
operative upon filing with the Commission.\13\
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    \11\ 17 CFR 240.19b-4(f)(6)(iii). In addition, Rule 19b-
4(f)(6)(iii) requires the self-regulatory organization to give the
Commission notice of its intent to file the proposed rule change,
along with a brief description and text of the proposed rule change,
at least five business days prior to the date of filing of the
proposed rule change, or such shorter time as designated by the
Commission. NYSE has satisfied this requirement.
    \12\ 17 CFR 240.19b-4(f)(6)(iii).
    \13\ For purposes only of waiving the 30-day operative delay,
the Commission has considered the proposed rule's impact on
efficiency, competition and capital formation. See 15 U.S.C. 78c(f).
---------------------------------------------------------------------------

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

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://
www.sec.gov/rules/sro.shtml); or
     Send an e-mail to<EMAIL_ADDRESS>Please include
File Number SR-NYSE-2008-92 on the subject line.

Paper Comments

     Send paper comments in triplicate to Secretary, Securities
and Exchange Commission, Station Place, 100 F Street, NE., Washington,
DC 20549-1090.
    All submissions should refer to File Number SR-NYSE-2008-92. This
file number should be included on the subject line if e-mail is used.
To help the Commission process and review your comments more
efficiently, please use only one method. The Commission will post all
comments on the Commission's Internet Web site (http://www.sec.gov/
rules/sro.shtml). Copies of the submission, all subsequent amendments,
all written statements with respect to the proposed rule change that
are filed with the Commission, and all written communications relating
to the proposed rule change between the Commission and any person,
other than those that may be withheld from the public in accordance
with the provisions of 5 U.S.C. 552, will be available for inspection
and copying in the Commission's Public Reference Room, 100 F Street,
NE., Washington, DC 20549, on official business days between the hours
of 10 a.m. and 3 p.m. Copies of such filing also will be available for
inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make publicly available. All
submissions should refer to File Number SR-NYSE-2008-92 and should be
submitted on or before October 29, 2008.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
---------------------------------------------------------------------------

    \14\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Acting Secretary.
 [FR Doc. E8-23756 Filed 10-7-08; 8:45 am]

BILLING CODE 8011-01-P


[Federal Register Volume 83, Number 127 (Monday, July 2, 2018)]
[Notices]
[Pages 31011-31012]
[FR Doc No: 2018-14193]

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SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Release No. 33137; File No. 812-14764]

Goldman Sachs Trust, et al.

June 27, 2018.
AGENCY: Securities and Exchange Commission (``Commission'').

ACTION: Notice.

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    Notice of an application for an order under section 12(d)(1)(J) of
the Investment Company Act of 1940 (the ``Act'') for an exemption from
sections 12(d)(1)(A), (B), and (C) of the Act; under sections 6(c) and
17(b) of the Act for an exemption from sections 17(a)(1) and (2) of the
Act. The requested order would: (a) Permit certain registered open-end
investment companies to acquire shares of certain registered open-end
investment companies, registered closed-end investment companies,
business development companies, as defined in section 2(a)(48) of the
Act, and registered unit investment trusts (collectively, ``Underlying
Funds'') that are within and outside the same group of investment
companies as the acquiring investment companies, in excess of the
limits in section 12(d)(1) of the Act.\1\
---------------------------------------------------------------------------

    \1\ The requested order (``Order'') would supersede an exemptive
order issued by the Commission on August 26, 2008, see In the Matter
of Goldman Sachs Trust, et al., Investment Company Act Release Nos.
28347 (Jul. 31, 2008) (notice) and 28366 (Aug. 26, 2008) (order))
(the ``Prior Order''), with the result that no person will continue
to rely on the Prior Order if the Order is granted.

Applicants: Goldman Sachs Trust; Goldman Sachs Trust II; Goldman Sachs

ETF Trust; Goldman Sachs Variable Insurance Trust, each a Delaware
statutory trust that is registered under the Act as an open-end
management investment company with multiple series (each a ``Trust,''
and together, the ``Trusts''); and Goldman Sachs Asset Management,
L.P.; Goldman Sachs Asset Management International; and GS Investment
Strategies, LLC (each an ``Adviser''), each registered as an investment
---------------------------------------------------------------------------
adviser under the Investment Advisers Act of 1940.

Filing Dates: The application was filed on April 19, 2017, and amended
on November 16, 2017 and April 19, 2018.

Hearing or Notification of Hearing: An order granting the requested
relief 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 July 23, 2018, and should be accompanied by proof of
service on the applicants, in the form of an affidavit, or, for
lawyers, a certificate of service. Pursuant to rule 0-5 under the Act,
hearing requests should state the nature of the writer's interest, any
facts bearing upon the desirability of a hearing on the matter, 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: Caroline L. Kraus,
Goldman Sachs & Co., LLC, 200 West Street, New York, NY 10282; and
Stephen H. Bier, Dechert LLP, 1095 Avenue of the Americas, New York, NY
10036-6797.

FOR FURTHER INFORMATION CONTACT: Stephan N. Packs, Senior Counsel, at
(202) 551-6853, or David J. Marcinkus, 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 website 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>.

Summary of the Application

    1. Applicants request an order to permit (a) each Fund \2\ (each a
``Fund of Funds'') to acquire shares of Underlying Funds \3\ in excess
of the limits in sections 12(d)(1)(A) and (C) of the Act and (b) each
Underlying Fund that is a registered open-end management investment
company or series thereof, their principal underwriters, and any broker
or dealer registered under the 1934 Act to sell shares of the
Underlying Funds to the Fund of Funds in excess of the limits in
section 12(d)(1)(B) of the Act.\4\ Applicants also request an order of
exemption under sections 6(c) and 17(b) of the Act from the prohibition
on certain affiliated transactions in section 17(a) of the Act to the
extent necessary to permit the Underlying Funds to sell their shares
to, and redeem their shares from, the Funds of Funds.\5\ Applicants
state that such transactions will be consistent with the policies of
each Fund of Funds and each Underlying Fund and with the general
purposes of the Act and will be based on the net asset values of the
Underlying Funds.
---------------------------------------------------------------------------

    \2\ Applicants request that the order apply not only to the
existing series of a Trust (the ``Initial Funds''), but that the
order also extend to any future series of a Trust and any other
existing or future registered open-end management investment company
or series thereof that is part of the same ``group of investment
companies,'' as defined in section 12(d)(1)(G)(ii) of the Act, as
the Trusts and is, or may in the future be, advised by an Adviser or
its successor or any other investment adviser controlling,
controlled by, or under common control with an Adviser or its
successor (together with the Initial Funds, each series a ``Fund,''
and collectively, the ``Funds''). For purposes of the requested
order, ``successor'' is limited to an entity that results from a
reorganization into another jurisdiction or a change in the type of
business organization. For purposes of the request for relief, the
term ``group of investment companies'' means any two or more
registered investment companies, including closed-end investment
companies and business development companies, that hold themselves
out to investors as related companies for purposes of investment and
investor services.
    \3\ Certain of the Underlying Funds have obtained exemptions
from the Commission necessary to permit their shares to be listed
and traded on a national securities exchange at negotiated prices
and, accordingly, to operate as an exchange-traded fund (``ETF'').
    \4\ Applicants are not requesting relief for a Fund of Funds to
invest in business development companies and registered closed-end
investment companies that are not listed and traded on a national
securities exchange.
    \5\ A Fund of Funds generally would purchase and sell shares of
an Underlying Fund that operates as an ETF or a closed-end fund
through secondary market transactions rather than through principal
transactions with the Underlying Fund. Applicants nevertheless
request relief from sections 17(a)(1) and (2) to permit each ETF or
closed-end fund that is an affiliated person, or an affiliated
person of an affiliated person, as defined in section 2(a)(3) of the
Act, of a Fund of Funds, to sell shares to or redeem shares from the
Fund of Funds. This includes, in the case of sales and redemptions
of shares of ETFs, the in-kind transactions that accompany such
sales and redemptions. Applicants are not seeking relief from
Section 17(a) for, and the requested relief will not apply to,
transactions where an ETF, business development company, or closed-
end fund could be deemed an affiliated person, or an affiliated
person of an affiliated person, of a Fund of Funds because an
investment adviser to the ETF, business development company, or
closed-end fund, or an entity controlling, controlled by or under
common control with the investment adviser to the ETF, business
development company, or closed-end fund is also an investment
adviser to the Fund of Funds.
---------------------------------------------------------------------------

    2. Applicants agree that any order granting the requested relief
will be subject to the terms and conditions stated in the application.
Such terms and conditions are designed to, among other things, help
prevent any potential (i) undue influence over an Underlying Fund that
is not in the same ``group of investment companies'' as the Fund of
Funds through control or voting power, or in connection with certain
services, transactions, and underwritings, (ii) excessive layering of
fees, and (iii) overly complex fund structures, which are the concerns
underlying the limits in sections 12(d)(1)(A), (B), and (C) of the Act.
    3. Section 12(d)(1)(J) of the Act provides that the Commission may
exempt any person, security, or transaction, or any class or classes of
persons, securities, or transactions, from any provision of section
12(d)(1) if the exemption is consistent with the public interest and
the protection of investors. Section 17(b) of the Act authorizes the
Commission to grant an order permitting a transaction otherwise
prohibited by section 17(a) if it finds that (a) the terms of the
proposed transaction are fair and reasonable and do not involve
overreaching on the part of any person concerned; (b) the proposed
transaction is consistent with the policies of each registered
investment company involved; and (c) the proposed transaction is
consistent with the general purposes of the Act. Section 6(c) of the
Act permits the Commission to exempt any persons or transactions from
any provision of the Act if 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.

    For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-14193 Filed 6-29-18; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 81, Number 148 (Tuesday, August 2, 2016)]
[Notices]
[Page 50784]
[FR Doc No: 2016-18219]

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

Federal Aviation Administration

Notice of Industry Meeting

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice of public meeting.

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SUMMARY: The Federal Aviation Administration (FAA) is hosting a public
meeting to conclude the Aircraft Access to System Wide Information
Management (AAtS) Demonstration project. The meeting will inform flight
operations stakeholders and information service providers on the
demonstrated concept, prototype applications developed, and results
collected throughout the project. This meeting is not a precursor to a
request for proposal (RFP) or request for offer (RFO). The FAA is not
seeking or accepting unsolicited proposals.

DATES: The public meeting will be held on August 16, 2016, from 8:00
a.m. to 4:30 p.m.

ADDRESSES: The public meeting will be held at Florida NextGen Test Bed,
557 Innovation Way, Daytona Beach, FL 32114.

FOR FURTHER INFORMATION CONTACT: Kelly Mulholland, ANG-C52, Technology
Development and Prototyping, Federal Aviation Administration, 800
Independence Ave. SW., Washington, DC 20591; telephone<PHONE_NUMBER>;
email<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

Background

    The FAA's System Wide Information Management (SWIM) program is one
of the transformational programs of the NextGen portfolio. SWIM
utilizes a Service Oriented Architecture (SOA) to exchange aviation
data and services without the restrictive, time consuming and expensive
process of developing unique interfaces for the numerous systems and
equipment used by the National Airspace System (NAS).
    On November 17, 2014, the FAA hosted a public meeting for the
Aircraft Access to System Wide Information Management (AAtS) Phase 2
Working Group to discuss the operational needs for a capability such as
AAtS. AAtS is a technology agnostic concept demonstration effort
conducted by the FAA to improve collaborative decision making by
establishing the airborne component of the ground based SWIM. AAtS
leverages rapidly growing air/ground third party service providers'
infrastructure and technologies such as inflight Internet Protocol (IP)
Data Link and Electronic Flight Bags (EFB) to exchange non-command and
control/safety critical information between pilots and other NAS users
without new equipage mandates.
    To demonstrate feasibility and highlight the future potential of
connecting aircraft to SWIM, the FAA developed prototype systems and
applications in collaboration with industry partners and conducted live
operational demonstrations with airline and business aircraft
operators. The concept demonstrated by AAtS will help create a shared
NAS picture and is expected to contribute to increased predictability,
flexibility, and efficiency through collaborative decision making. The
FAA will summarize the demonstrations at the August 16, 2016, meeting
to conclude the AAtS Demonstration project.

Registration

    To attend the meeting, participants must register via email by
close of business day Tuesday, August 9, 2016. In accordance with
security procedures, participants must provide the following
information to<EMAIL_ADDRESS>Full Name, Company, Phone Number,
and U.S. Citizen (Y/N).

    Issued in Washington, DC, on July 20, 2016.
John Maffei,
Director (A), NextGen Portfolio Management and Technology Development.
[FR Doc. 2016-18219 Filed 8-1-16; 8:45 am]
 BILLING CODE 4910-13-P