[Federal Register Volume 86, Number 55 (Wednesday, March 24, 2021)]
[Proposed Rules]
[Pages 15625-15627]
[FR Doc No: 2021-06079]

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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 165

[Docket Number USCG-2020-0458]
RIN 1625-AA00

Safety Zone; Apra Outer Harbor, Naval Base Guam

AGENCY: Coast Guard, DHS.

ACTION: Notice of proposed rulemaking.

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SUMMARY: The Coast Guard is proposing to establish a recurring safety
zone for

certain waters of Apra Outer Harbor. This action is necessary to
provide for the safety of life on these navigable waters near Apra
Harbor, Guam, during fireworks displays. This proposed rulemaking would
prohibit persons and vessels from entering the safety zone unless
authorized by the Captain of the Port Guam (COTP) or a designated
representative. We invite your comments on this proposed rulemaking.

DATES: Comments and related material must be received by the Coast
Guard on or before April 23, 2021.

ADDRESSES: You may submit comments identified by docket number USCG-
2020-0458 using the Federal eRulemaking Portal at https://www.regulations.gov. See the ``Public Participation and Request for
Comments'' portion of the SUPPLEMENTARY INFORMATION section for further
instructions on submitting comments.

FOR FURTHER INFORMATION CONTACT: If you have questions about this
proposed rulemaking, call or email Chief Petty Officer Robert Davis,
Sector Guam, U.S. Coast Guard; telephone<PHONE_NUMBER>, email
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. Table of Abbreviations

CFR Code of Federal Regulations
DHS Department of Homeland Security
FR Federal Register
NPRM Notice of proposed rulemaking
Sec.  Section
U.S.C. United States Code

II. Background, Purpose, and Legal Basis

    Navy MWR conducts a recurring fireworks display between 6 p.m. and
9 p.m. during the 1st week of July. The fireworks are launched from a
barge positioned in Apra Outer Harbor. Hazards from firework display
include accidental discharge of fireworks, dangerous projectiles, and
falling hot embers or other debris. The Captain of the Port Guam (COTP)
has determined that potential hazards associated with the fireworks to
be used in this display would be a safety concern for anyone within a
190-yard radius of the barge.
    The purpose of this rulemaking is to ensure the safety of vessels
and of the navigable waters within a 190-yard radius of the fireworks
barge before, during, and after the scheduled event. The Coast Guard is
proposing this rulemaking under its authority in 46 U.S.C. 70034
(previously 33 U.S.C. 1231).

III. Discussion of Proposed Rule

    The COTP is proposing to establish this recurring safety zone from
6 p.m. to 9 p.m. during the first week of July. The safety zone would
cover all navigable waters within 190 yards of the fireworks barge
located in Apra Outer Harbor. The duration of the zone is intended to
ensure the safety of vessels and these navigable waters before, during,
and after the scheduled 6 p.m. to 9 p.m. fireworks display. No vessel
or person would be permitted to enter the safety zone without obtaining
permission from the COTP or a designated representative. The regulatory
text we are proposing appears at the end of this document.

IV. Regulatory Analyses

    We developed this proposed rule after considering numerous statutes
and Executive orders related to rulemaking. Below we summarize our
analyses based on a number of these statutes and Executive orders, and
we discuss First Amendment rights of protestors.

A. Regulatory Planning and Review

    Executive Orders 12866 and 13563 direct agencies to assess the
costs and benefits of available regulatory alternatives and, if
regulation is necessary, to select regulatory approaches that maximize
net benefits. This NPRM has not been designated a ``significant
regulatory action,'' under Executive Order 12866. Accordingly, the NPRM
has not been reviewed by the Office of Management and Budget (OMB).
    This regulatory action determination is based on the size,
location, duration, and time-of-year of the safety zone. Vessel traffic
will be able to safely transit around this safety zone, which will
impact a small designated area of the Apra Outer Harbor for 3 hours.
The safety zone will impact a small section of the main channel for
Navy traffic, however Navy traffic will be able to transit around the
area safely. This is also the main traffic area for the Marianas Yacht
Club in Sasa Bay, however vessels will be able to transit around the
area safely. Moreover, the Coast Guard will issue a Broadcast Notice to
Mariners via VHF-FM marine channel 16 about the zone, and the rule
allows vessels to seek permission to enter the zone.

B. Impact on Small Entities

    The Regulatory Flexibility Act of 1980, 5 U.S.C. 601-612, as
amended, requires Federal agencies to consider the potential impact of
regulations on small entities during rulemaking. The term ``small
entities'' comprises small businesses, not-for-profit organizations
that are independently owned and operated and are not dominant in their
fields, and governmental jurisdictions with populations of less than
50,000. The Coast Guard certifies under 5 U.S.C. 605(b) that this
proposed rule would not have a significant economic impact on a
substantial number of small entities.
    While some owners or operators of vessels intending to transit the
safety zone may be small entities, for the reasons stated in section
IV.A above, this proposed rule would not have a significant economic
impact on any vessel owner or operator.
    If you think that your business, organization, or governmental
jurisdiction qualifies as a small entity and that this rule would have
a significant economic impact on it, please submit a comment (see
ADDRESSES) explaining why you think it qualifies and how and to what
degree this rule would economically affect it.
    Under section 213(a) of the Small Business Regulatory Enforcement
Fairness Act of 1996 (Pub. L. 104-121), we want to assist small
entities in understanding this proposed rule. If the rule would affect
your small business, organization, or governmental jurisdiction and you
have questions concerning its provisions or options for compliance,
please call or email the person listed in the FOR FURTHER INFORMATION
CONTACT section. The Coast Guard will not retaliate against small
entities that question or complain about this proposed rule or any
policy or action of the Coast Guard.

C. Collection of Information

    This proposed rule would not call for a new collection of
information under the Paperwork Reduction Act of 1995 (44 U.S.C. 3501-
3520).

D. Federalism and Indian Tribal Governments

    A rule has implications for federalism under Executive Order 13132
(Federalism), if it has a substantial direct effect on the States, on
the relationship between the National Government and the States, or on
the distribution of power and responsibilities among the various levels
of government. We have analyzed this proposed rule under that Order and
have determined that it is consistent with the fundamental federalism
principles and preemption requirements described in Executive Order
13132.
    Also, this proposed rule does not have tribal implications under
Executive Order 13175 (Consultation and Coordination with Indian Tribal
Governments) because it would not have a substantial direct effect on
one or more Indian tribes, on the relationship between the Federal
Government and

Indian tribes, or on the distribution of power and responsibilities
between the Federal Government and Indian tribes. If you believe this
proposed rule has implications for federalism or Indian tribes, please
call or email the person listed in the FOR FURTHER INFORMATION CONTACT
section.

E. Unfunded Mandates Reform Act

    The Unfunded Mandates Reform Act of 1995 (2 U.S.C. 1531-1538)
requires Federal agencies to assess the effects of their discretionary
regulatory actions. In particular, the Act addresses actions that may
result in the expenditure by a State, local, or tribal government, in
the aggregate, or by the private sector of $100,000,000 (adjusted for
inflation) or more in any one year. Though this proposed rule would not
result in such an expenditure, we do discuss the effects of this rule
elsewhere in this preamble.

F. Environment

    We have analyzed this proposed rule under Department of Homeland
Security Directive 023-01, Rev. 1, associated implementing
instructions, and Environmental Planning COMDTINST 5090.1 (series),
which guide the Coast Guard in complying with the National
Environmental Policy Act of 1969 (42 U.S.C. 4321-4370f), and have made
a preliminary determination that this action is one of a category of
actions that do not individually or cumulatively have a significant
effect on the human environment. This proposed rule involves a safety
zone lasting no more than 3 hours that would prohibit entry within 190
yards of a fireworks barge. Normally such actions are categorically
excluded from further review under paragraph L60(a) of Appendix A,
Table 1 of DHS Instruction Manual 023-01-001-01, Rev. 1. A preliminary
Record of Environmental Consideration supporting this determination is
available in the docket. For instructions on locating the docket, see
the ADDRESSES section of this preamble. We seek any comments or
information that may lead to the discovery of a significant
environmental impact from this proposed rule.

G. Protest Activities

    The Coast Guard respects the First Amendment rights of protesters.
Protesters are asked to call or email the person listed in the FOR
FURTHER INFORMATION CONTACT section to coordinate protest activities so
that your message can be received without jeopardizing the safety or
security of people, places, or vessels.

V. Public Participation and Request for Comments

    We view public participation as essential to effective rulemaking,
and will consider all comments and material received during the comment
period. Your comment can help shape the outcome of this rulemaking. If
you submit a comment, please include the docket number for this
rulemaking, indicate the specific section of this document to which
each comment applies, and provide a reason for each suggestion or
recommendation.
    We encourage you to submit comments through the Federal eRulemaking
Portal at https://www.regulations.gov. If your material cannot be
submitted using https://www.regulations.gov, call or email the person
in the FOR FURTHER INFORMATION CONTACT section of this document for
alternate instructions.
    We accept anonymous comments. Comments we post to https://www.regulations.gov will include any personal information you have
provided. For more about privacy and submissions in response to this
document, see DHS's eRulemaking System of Records notice (85 FR 14226,
March 11, 2020). Documents mentioned in this NPRM as being available in
the docket, and public comments, will be in our online docket at
https://www.regulations.gov and can be viewed by following that
website's instructions. We review all comments received, but we will
only post comments that address the topic of the proposed rule. We may
choose not to post off-topic, inappropriate, or duplicate comments that
we receive. If you go to the online docket and sign up for email
alerts, you will be notified when comments are posted or a final rule
is published.

List of Subjects in 33 CFR Part 165

    Harbors, Marine safety, Navigation (water), Reporting and
recordkeeping requirements, Security measures, Waterways.

    For the reasons discussed in the preamble, the Coast Guard is
proposing to amend 33 CFR part 165 as follows:

PART 165--REGULATED NAVIGATION AREAS AND LIMITED ACCESS AREAS

0
1. The authority citation for part 165 continues to read as follows:

    Authority: 46 U.S.C. 70034, 70051; 33 CFR 1.05-1, 6.04-1, 6.04-
6, and 160.5; Department of Homeland Security Delegation No. 0170.1.

0
2. Add Sec.  165.1419 to read as follows:

Sec.  165.1419  Safety Zone; Apra Outer Harbor, Naval Base Guam.

    (a) Location. The following areas, within the Captain of the Port
Guam (COTP) Zone (See 33 CFR 3.70-15), all navigable waters on the
surface and below the surface within 190 yards of the fireworks barge
for the 4th of July celebrations at Polaris Point, Naval Base Guam. The
barge will be anchored approximately 500 yards off the north tip of
Polaris Point in Apra Outer Harbor.
    (b) Definition. As used in this section, ``designated on-scene
representative'' means a Coast Guard Patrol Commander, including a
Coast Guard coxswain, petty officer, or other officer operating a Coast
Guard vessel, and a Federal, State, and local officer either designated
by or assisting the Captain of the Port (COTP) Sector Guam in the
enforcement of the safety zone.
    (c) Regulations. (1) In accordance with the general regulations in
section Sec.  165.23, entry into, transiting, or anchoring within this
safety zone is prohibited unless authorized by the COTP or a designated
on-scene representative.
    (2) This safety zone is closed to all persons and vessel traffic,
except as may be permitted by the COTP or a designated on-scene
representative.
    (3) Persons and Vessel operators desiring to enter or operate
within the safety zone must contact the COTP or a designated on-scene
representative to obtain permission to do so. The COTP or a designated
on-scene representative may be contacted via VHF Channel 16 or at
telephone number<PHONE_NUMBER>. Vessel operators given permission to
enter or operate in the safety zone must comply with all directions
given to them by the COTP or a designated on-scene representative.
    (d) Enforcement period. This safety zone will be enforced on a
specific date during the 1st week of July from 6:00 p.m. to 9:00 p.m.
annually, unless the event is delayed or cancelled due to weather. The
Coast Guard will provide advance notice of enforcement and a broadcast
notice to mariners to inform public of specific date.

    Dated: March 16, 2021.
Christopher M. Chase,
Captain, U.S. Coast Guard, Captain of the Port, Guam.
[FR Doc. 2021-06079 Filed 3-23-21; 8:45 am]
BILLING CODE 9110-04-P


[Federal Register Volume 80, Number 226 (Tuesday, November 24, 2015)]
[Rules and Regulations]
[Pages 73104-73105]
[FR Doc No: 2015-29902]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

21 CFR Parts 510 and 528

[Docket No. FDA-2015-N-0002]

New Animal Drugs in Genetically Engineered Animals; opAFP-GHc2
Recombinant Deoxyribonucleic Acid Construct

AGENCY: Food and Drug Administration, HHS.

ACTION: Final rule.

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SUMMARY: The Food and Drug Administration (FDA, the Agency) is amending
the animal drug regulations to reflect the approval of a new animal
drug application (NADA) filed by AquaBounty Technologies, Inc. The NADA
provides for use of a recombinant deoxyribonucleic acid (rDNA) gene
construct in a lineage of genetically engineered Atlantic salmon.

DATES: This rule is effective November 24, 2015.

FOR FURTHER INFORMATION CONTACT: Larisa Rudenko, Center for Veterinary
Medicine (HFV-2), Food and Drug Administration, 7500 Standish Pl.,
Rockville, MD 20855,<PHONE_NUMBER>, email<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: AquaBounty Technologies, Inc., Two Clock
Tower Pl., suite 395, Maynard, MA 01754 filed NADA 141-454 for an
opAFP-GHc2 rDNA construct at the [alpha]-locus in the EO-1[alpha]
lineage triploid, hemizygous, all-female Atlantic salmon (Salmo salar)
known as AQUADVANTAGE Salmon. Significantly more of these Atlantic
salmon grow to at least 100 grams within 2,700 Celsius degree-days than
their comparators. The NADA is approved as of November 19, 2015, and
the regulations are amended in 21 CFR part 528 to reflect the approval.
    In addition, AquaBounty Technologies, Inc., is not currently listed
in the animal drug regulations as a sponsor of an approved application.
Accordingly, 21 CFR 510.600(c) is being amended to add entries for this
firm.
    In accordance with the freedom of information provisions of 21 CFR
part 20 and 21 CFR 514.11(e)(2)(ii), a summary of safety and
effectiveness data and information submitted to support approval of
this application (FOI Summary) may be seen in the Division of Dockets
Management (HFA-305), Food and Drug Administration, 5630 Fishers Lane,
Rm. 1061, Rockville, MD 20852, between 9 a.m. and 4 p.m., Monday
through Friday.
    The Agency has carefully considered the potential environmental
impact of this action and has concluded that the action will not have a
significant impact on the human environment and that an environmental
impact statement is not required. FDA's finding of no significant
impact (FONSI) and the evidence supporting that finding, contained in
an environmental assessment (EA), may be seen in the Division of
Dockets Management (address in the previous paragraph) between 9 a.m.
and 4 p.m., Monday through Friday.
    Persons with access to the Internet may obtain the FOI Summary, EA,
and FONSI at the Center for Veterinary Medicine FOIA Electronic Reading
Room: http://www.fda.gov/AboutFDA/CentersOffices/OfficeofFoods/CVM/CVMFOIAElectronicReadingRoom/default.htm. Patent information may be
accessed in FDA's publication, Approved Animal Drug Products Online
(Green Book) at: http://www.fda.gov/AnimalVeterinary/Products/ApprovedAnimalDrugProducts/default.htm.
    This rule does not meet the definition of ``rule'' in 5 U.S.C.
804(3)(A) because it is a rule of ``particular applicability.''
Therefore, it is not subject to the congressional review requirements
in 5 U.S.C. 801-808.

List of Subjects

21 CFR Part 510

    Administrative practice and procedure, Animal drugs, Labeling,
Reporting and recordkeeping requirements.

21 CFR Part 528

    Animal drugs.

    Therefore, under the Federal Food, Drug, and Cosmetic Act and under
authority delegated to the Commissioner of Food and Drugs and
redelegated to the Center for Veterinary Medicine, 21 CFR parts 510 and
528 are amended as follows:

PART 510--NEW ANIMAL DRUGS

0
1. The authority citation for 21 CFR part 510 continues to read as
follows:

    Authority:  21 U.S.C. 321, 331, 351, 352, 353, 360b, 371, 379e.

0
2. In Sec.  510.600, in the table in paragraph (c)(1), alphabetically
add an entry for ``AquaBounty Technologies, Inc.'' and in the table in
paragraph (c)(2), numerically add an entry for ``086053'' to read as
follows:

Sec.  510.600  Names, addresses, and drug labeler codes of sponsors of
approved applications.

* * * * *
    (c) * * *
    (1) * * *

------------------------------------------------------------------------
                                                           Drug labeler
                 Firm name and address                         code
------------------------------------------------------------------------

                                * * * * *
AquaBounty Technologies, Inc., Two Clock Tower Pl.,              086053
 suite 395, Maynard, MA 01754..........................

                                * * * * *
------------------------------------------------------------------------

    (2) * * *

------------------------------------------------------------------------
         Drug  labeler code                 Firm name  and address
------------------------------------------------------------------------

                                * * * * *
086053..............................  AquaBounty Technologies, Inc., Two
                                       Clock Tower Pl., suite 395,
                                       Maynard, MA 01754 * * *

                                * * * * *
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PART 528--NEW ANIMAL DRUGS IN GENETICALLY ENGINEERED ANIMALS

0
3. The authority citation for 21 CFR part 528 continues to read as
follows:

    Authority:  21 U.S.C. 360b.

0
4. Add Sec.  528.1092 to read as follows:

Sec.  528.1092  opAFP-GHc2 recombinant deoxyribonucleic acid construct.

    (a) Specifications. A single copy of the [alpha]-form of the opAFP-
GHc2 recombinant deoxyribonucleic acid (rDNA) construct at the [alpha]-
locus in the EO-1 [alpha] lineage of triploid, hemizygous, all-female
Atlantic salmon (Salmo salar).
    (b) Sponsor. See No. 086053 in Sec.  510.600 of this chapter.
    (c) Indications for use. Significantly more of these Atlantic
salmon grow to at least 100 grams within 2,700 Celsius degree-days than
their comparators.
    (d) Limitations. These Atlantic salmon are produced as eyed-eggs
and grown-out only in physically-contained, freshwater culture
facilities specified in an FDA-approved application.

    Dated: November 19, 2015.
Bernadette Dunham,
Director, Center for Veterinary Medicine.
[FR Doc. 2015-29902 Filed 11-23-15; 8:45 am]
 BILLING CODE 4164-01-P


S-1....................................................          (57)        1,176         (67,032)         (16,758)         (50,274)       (20,109,600)
F-3....................................................            4           166             664              166              498            199,200
F-1....................................................           (3)        1,809          (5,427)       (1,356.75)       (4,070.25)        (1,628,100)
                                                        ------------------------------------------------------------------------------------------------
    Total..............................................  ............  ...........         (41,501)      (10,375.25)      (31,125.75)      ($12,450,300)
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III. Cost-Benefit Analysis

A. Summary of Amendments

    We are adopting revisions to the transaction eligibility
requirements of Forms S-3 and F-3 that will allow companies to take
advantage of these forms for primary offerings regardless of the size
of their public float. Whereas secondary offerings may be registered on
Forms S-3 and F-3 irrespective of float, the instructions to Forms S-3
and F-3 have, before now, restricted the use of these forms for primary
securities offerings to companies that have a minimum of $75 million in
public float calculated within 60 days prior to the date the
registration statement is filed. To expand the availability of Forms S-
3 and F-3 for primary offerings to more companies, we are adopting
revisions to these forms that allow companies with less than $75
million in public float to register primary offerings of their
securities on Forms S-3 and F-3, provided:
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    \111\ This reflects current Office of Management and Budget
estimates.
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     They meet the other registrant eligibility conditions for
the use of Form S-3 or Form F-3, as applicable;
     They have at least one class of common equity securities
listed and registered on a national securities exchange;
     They do not sell more than the equivalent of one-third of
their public float in primary offerings under General Instruction
I.B.6. of Form S-3 or under General Instruction I.B.5. of Form F-3, as
applicable, over the previous period of 12 calendar months; and
     They are not shell companies and have not been shell
companies for at least 12 calendar months before filing the
registration statement.

B. Benefits

    The ability to conduct primary offerings on Forms S-3 and F-3
confers significant advantages on eligible companies in terms of cost
savings and capital formation. The time required to prepare Form S-3 or
Form F-3 is significantly lower than that required for Forms S-1 and F-
1.\112\ This difference is magnified by the fact that Form S-3 and Form
F-3, unlike Forms S-1 and F-1, permit registrants to forward
incorporate required information by reference to disclosure in their
Exchange Act filings. Therefore, Form S-3 and Form F-3 registration
statements can be automatically updated. This allows such companies to
avoid additional delays and interruptions in the offering process and
can reduce the costs associated with preparing and filing post-
effective

amendments to the registration statement.
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    \112\ The Office of Management and Budget currently estimates
the time required to prepare Form S-3 and Form F-3 as 459 hours and
166 hours, respectively. This is contrasted with current estimates
for Form S-1 and F-1 as 1,176 hours and 638 hours, respectively.
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    Overall, we anticipate that the expansion of Form S-3 and Form F-3
eligibility will decrease the aggregate costs of complying with the
Commission's rules by allowing companies previously eligible to use
only Form S-1 or Form F-1 the use of short-form registration on Form S-
3 or Form F-3, as applicable. Using our estimates prepared for purposes
of the Paperwork Reduction Act, we estimate that under the amendments
the annual decrease in the compliance burden for companies to comply
with our collection of information requirements to be approximately
10,375 hours of in-house company personnel time (valued at $1,816,000
\113\) and to be approximately $12,450,000 for the services of outside
professionals.
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    \113\ Consistent with recent rulemaking releases, we estimate
the value of work performed by the company internally at a cost of
$175 per hour.
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    In addition to the benefits associated with the estimated reduction
in the time required to prepare Forms S-3 and F-3 in lieu of Forms S-1
and F-1, and a company's ability to forward incorporate prospectus
disclosure by reference, Forms S-3 and F-3 provide substantial
flexibility to companies raising money in the capital markets, which
ultimately may reduce the cost of capital for such companies and
facilitate their access to additional sources of investment. Companies
that are eligible to use Form S-3 or Form F-3 for primary offerings are
able to conduct delayed and continuous registered offerings under Rule
415 of the Securities Act, which provides considerable flexibility in
accessing the public securities markets from time to time in response
to changes in the market and other factors. Eligible companies are
permitted to register securities prior to planning any offering and,
once the registration statement is effective, offer these securities in
one or more tranches without waiting for further Commission action. By
having more control over the timing of their offerings, these companies
can take advantage of desired market conditions, thus allowing them to
raise capital on more favorable terms (such as pricing) or to obtain
lower interest rates on debt. In addition, they can vary certain terms
of the securities being offered upon short notice, enabling them to
more efficiently meet the competitive requirements of the public
securities markets. We believe that extending shelf registration
benefits to more companies, in the manner we have chosen, will
facilitate the capital-raising efforts of smaller public companies who
currently have fewer financing options than their larger
counterparts.\114\ Consequently, we anticipate that the amendments will
result in smaller issuers raising more capital through the public
markets rather than through exempt offerings conducted in the domestic
and offshore markets. Investors in these companies will benefit by such
companies' improved access to capital on more favorable terms. In
particular, investors in smaller public companies may be less subject
to the risk of dilution in the value of their shares if the companies
in which they invest are able to meet more of their capital needs in
the public markets. By selling into the public markets, these companies
may be able to avoid the substantial pricing discounts that private
investors often demand to compensate them for the relative illiquidity
of the restricted shares they are purchasing.\115\
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    \114\ See generally, Chaplinsky and Haushalter, Financing Under
Extreme Uncertainty: Contract Terms and Returns to Private
Investments in Public Equity.
    \115\ Id.
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    The public registration of securities also provides additional
benefits to investors over alternative forms of capital raising. To the
extent that the amendments lead to an increase in the use of registered
offerings through the use of Form S-3 and Form F-3 as a source of
financing and a resulting decrease in private market alternatives,
investors in those offerings will benefit from the additional investor
protections associated with public registration.
    Notwithstanding our belief regarding the beneficial effects of the
amendments, however, any resulting benefits that accrue to companies
and their investors as a result of these amendments will depend on
future market conditions and circumstances unique to each company.

C. Costs

    As discussed in Section B. above, we do not expect that the
amendments to Forms S-3 and F-3 will materially increase companies'
overall compliance costs associated with preparing, reviewing and
filing these registration statements, although there may be some
additional costs incurred by companies to monitor their ongoing
compliance with the one-third sales cap imposed by the amendments. At
the same time, the amendments could result in certain additional market
costs that are difficult to quantify. For example, it has been
suggested that there are risks inherent in allowing smaller public
companies to take advantage of shelf primary offerings on Forms S-3 and
F-3. Because this would permit such companies to avail themselves of
periodic takedowns without further Commission action or prior staff
review, concerns have been raised about the increased potential for
fraud and market manipulation.\116\ Although the Commission would
retain the authority to review registration statements before declaring
them effective, individual takedowns are not subject to prior staff
review. Under the current rules, if issuers are instead using Forms S-1
or F-1, they would be required to file separate registration statements
for each new offering, which would be subject to selective staff review
before going effective. If these issuers can instead conduct shelf
offerings on Form S-3 and Form F-3, there may be some loss of the
deterrent effect on the companies' disclosures in connection with each
takedown off the shelf because of the lack of prior staff review. In
addition, the short time horizon of shelf offerings may also reduce the
time that participating underwriters have to apply their independent
scrutiny and judgment to an issuer's prospectus disclosure. We have
also considered the effect the amendments may have on market demand for
the securities of smaller public companies offered on Form S-3 and Form
F-3. If there is a perception that smaller public company securities
offered through shelf registration statements are more prone to abuse
because of the lack of involvement by the Commission staff, this may
erode investor confidence in these offerings generally. This could, in
turn, make it more difficult for these companies to raise capital and
significantly negate some of the benefits of the rule.
---------------------------------------------------------------------------

    \116\ See n. 34.
---------------------------------------------------------------------------

    While we recognize that extending the benefits of shelf
registration to an expanded group of companies will limit the staff's
direct involvement in takedowns of securities off the shelf and could
therefore pose some risk to investors, we believe that the risks are
justified by the benefits that we anticipate will accrue by
facilitating the capital formation efforts of smaller public companies.
As we have discussed elsewhere in this release, we believe these risks
have been mitigated by the emergence of the Internet which, in
combination with the Commission's EDGAR database, has greatly enhanced
the ability of the market to readily digest and assimilate public
company information.
    However, in order minimize risks to investors, the amendments
include certain restrictions intended to moderate the impact of
expanding

Forms S-3 and F-3 eligibility. These are:
     Excluding shell companies from eligibility;
     Requiring that companies have at least one class of common
equity securities listed and registered on a national securities
exchange; and
     Imposing a cap of one-third of a company's public float on
the amount of securities that can be sold into the market in any period
of 12 calendar months by eligible issuers on Forms S-3 and F-3.
    We note, however, that monitoring compliance with the one-third cap
may be difficult given the lack of staff review before a shelf
offering.

IV. Consideration of Promotion of Efficiency, Competition and Capital
Formation

    Securities Act Section 2(b)\117\ requires us, when engaging in
rulemaking where we are required to consider or determine whether an
action is necessary or appropriate in the public interest, to consider,
in addition to the protection of investors, whether the action will
promote efficiency, competition, and capital formation.
---------------------------------------------------------------------------

    \117\ 15 U.S.C. 77b(b).
---------------------------------------------------------------------------

    We expect the amendments will increase efficiency and enhance
capital formation by facilitating the ability of smaller public
companies to access the capital markets consistent with investor
protection. Prior to these amendments, many companies have been
ineligible to use Forms S-3 and F-3 to register primary offerings of
their securities because the size of their public float did not satisfy
the $75 million threshold required by these forms. Consequently, they
have been unable to take advantage of the important benefits enjoyed by
eligible companies, the most significant of which is the ability to
conduct primary offerings on a delayed and continuous basis. The
ability to register securities that may be taken off the shelf as
needed, without prior staff review, provides a powerful tool for
capital formation because it allows companies the flexibility to take
advantage of desired market conditions efficiently and upon short
notice. Companies may be able to raise capital more cheaply, quickly,
and on more favorable terms than would otherwise be the case. By
selling into the public markets, these companies may be able to avoid
the substantial pricing discounts that private investors often demand
to compensate them, in part, for the relative illiquidity of the
restricted shares they are purchasing.\118\
---------------------------------------------------------------------------

    \118\ See n. 115.
---------------------------------------------------------------------------

    We therefore believe that extending shelf registration benefits to
more companies in the manner that we have chosen will facilitate the
capital-raising efforts of smaller public companies who currently have
fewer financing options than their larger counterparts.\119\
Consequently, we anticipate that the amendments will lead to
efficiencies in capital formation, as smaller issuers will be able to
raise more capital through the public markets rather than through
exempt offerings conducted in the domestic and offshore markets.
---------------------------------------------------------------------------

    \119\ See n. 114.
---------------------------------------------------------------------------

    At the same time, we have also considered the potential that the
amendments might result in certain additional market costs that could
limit any efficiencies realized. For example, it has been suggested
that extending the benefits of shelf registration to an expanded group
of companies will limit the staff's direct involvement in takedowns of
securities off the shelf and could therefore pose some risk to
investors. In addition, the short time horizon of shelf offerings also
may reduce the time that participating underwriters have to apply their
independent scrutiny and judgment to an issuer's prospectus disclosure.
By reducing this staff and underwriter oversight, there is a risk that
these securities offerings may be more vulnerable to abuses. Moreover,
because companies with a smaller market capitalization, as a group,
have a comparatively smaller market following than larger, well-
seasoned issuers and are more thinly traded, smaller companies'
securities may be more vulnerable to potential manipulative practices.
We also have considered the effect the amendments may have on market
demand for the securities of smaller public companies offered on Form
S-3 and Form F-3. If there is a perception that smaller public company
securities offered through shelf registration statements are more prone
to abuse because of the lack of prior involvement by the Commission
staff, this may erode investor confidence in these offerings generally.
This could, in turn, make it more difficult for these companies to
raise capital and significantly negate the benefits of the rule.
    The effects of the amendments on competition are difficult to
predict, but it is possible that making it easier for smaller public
issuers to access the domestic public securities markets will lead to a
reallocation of capital, as companies that previously had little choice
but to offer their securities in private offerings or in offshore
markets because of their Form S-3 and Form F-3 ineligibility will now
find it cost-effective to offer their securities domestically in
primary offerings on Form S-3 and Form F-3. If such a reallocation
occurs, it may also impact securities market professionals, such as
finders, brokers and agents, who specialize in facilitating private
securities offerings. The demand for these services may shift to the
public markets, where other professionals, such as investment banks
that underwrite public offerings, have a comparative advantage.

V. Final Regulatory Flexibility Act Analysis

    This Final Regulatory Flexibility Act Analysis has been prepared in
accordance with 5 U.S.C. 603. It relates to revisions to the
eligibility requirements for the use of registration statements on
Forms S-3 and F-3 to register primary offerings of securities.

A. Need for the Amendments

    Prior to these amendments, many smaller public companies have been
ineligible to use Forms S-3 and F-3 to register primary offerings of
their securities because the size of their public float did not satisfy
the $75 million threshold required by these forms. Consequently, they
have been unable to take advantage of the important benefits enjoyed by
eligible companies, the most significant of which is the ability to
conduct primary offerings on a delayed and continuous basis. The
ability to register securities that may be taken off the shelf as
needed, without prior staff review, provides a powerful tool for
capital formation because it allows companies the flexibility to take
advantage of desired market conditions efficiently and on short notice.
As such, eligible companies may be able to raise capital more cheaply,
quickly, and on more favorable terms than would otherwise be the case.
Without this source of financing, smaller public companies that are not
eligible to register primary offerings on Form S-3 or Form F-3
currently have fewer, and less favorable, financing options than their
larger Form S-3 and F-3-eligible counterparts.

B. Significant Issues Raised by Public Comment

    In the Proposing Release, we requested comment on any aspect of the
Initial Regulatory Flexibility Act Analysis, including the number of
small entities that would be affected by the proposals, and both the
qualitative and quantitative nature of the impact. Several commenters
supported the

proposal because they believed it would benefit smaller public
companies, but did not provide any specific comments on the Initial
Regulatory Flexibility Act Analysis.

C. Small Entities Subject to the Amendments

    The Regulatory Flexibility Act defines ``small entity'' to mean
``small business,'' ``small organization,'' or ``small governmental
jurisdiction.''\120\ The Commission's rules define ``small business''
and ``small organization'' for purposes of the Regulatory Flexibility
Act for each of the types of entities regulated by the Commission.\121\
Roughly speaking, a ``small business'' and ``small organization,'' when
used with reference to an issuer other than an investment company,
means an issuer with total assets of $5 million or less on the last day
of its most recent fiscal year. We estimate that there are
approximately 1,100 issuers, other than investment companies, that may
be considered reporting small entities.\122\
---------------------------------------------------------------------------

    \120\ 5 U.S.C. 601(6).
    \121\ Rules 157 under the Securities Act [17 CFR 230.157], 0-10
under the Exchange Act [17 CFR 240.0-10] and 0-10 under the
Investment Company Act [17 CFR 270.0-10] contain the applicable
definitions.
    \122\ The estimated number of reporting small entities is based
on 2007 data, including the Commission's EDGAR database and Thomson
Financial's Worldscope database. See also Revisions to Rule 144 and
Rule 145 to Shorten Holding Period for Affiliates and Non-
Affiliates, Release No. 33-8813 (June 20, 2007) [72 FR 36822, 36841-
36842]. This represents an update from the number of reporting small
entities estimated in prior rulemakings. See, for example, Executive
Compensation and Related Disclosure, Release No. 33-8732A (Aug. 29,
2006) [71 FR 53158] (in which the Commission's estimated a total of
2,500 small entities, other than investment companies).
---------------------------------------------------------------------------

    The amendments will affect small entities that:
     Are not shell companies;
     Have at least one class of common equity securities listed
and registered on a national securities exchange; and
     Satisfy the registrant eligibility requirements for the
use of Form S-3 or Form F-3, which generally pertain to a company's
reporting history under the Exchange Act.\123\
---------------------------------------------------------------------------

    \123\ See n. 37 and n. 83.
---------------------------------------------------------------------------

    Based on these registrant eligibility requirements, we estimate
that there are approximately 115 to 350 small entities that will be
affected by the amendments and therefore will become eligible to use
Form S-3 or Form F-3 for primary securities offerings.\124\
---------------------------------------------------------------------------

    \124\ The burden estimates for small entities are presented as a
range representing the minimum and maximum number of small entities
that we estimate would currently qualify for eligibility under
either General Instruction I.B.6. of Form S-3 or General Instruction
I.B.5. of Form F-3, as applicable, based on data available to us.
---------------------------------------------------------------------------

D. Reporting, Recordkeeping and Other Compliance Requirements

    Because Forms S-3 and F-3 are abbreviated registration forms that
can be updated automatically through incorporation by reference of a
registrant's Exchange Act filings, we believe use of the forms by
eligible small entities will decrease their existing compliance burden.
Because the amendments have little effect on the information disclosure
requirements of Form S-3 or Form F-3,\125\ we do not believe that the
costs of complying with the amendments for small entities will be
disproportionate to that of large entities.\126\ We recognize, however,
that there will be some additional costs associated with an issuer's
need to continually monitor its compliance with the one-third cap on
sales in any period of 12 calendar months, but we believe that any such
costs will be insignificant.
---------------------------------------------------------------------------

    \125\ See n. 96. Instruction 7 to new General Instruction I.B.6.
of Form S-3 and Instruction 7 to new General Instruction I.B.5. of
Form F-3 require disclosure of the registrant's updated calculation
of public float and the amount of securities offered on Form S-3 or
F-3, as applicable, pursuant to this instruction during the prior 12
calendar months, but we believe any burden associated with this
requirement will be minimal.
    \126\ It should be noted, however, that General Instruction
II.C. of Form S-3 currently requires:
    * * * smaller reporting compan[ies] (as defined in Rule 405 of
the Securities Act [17 CFR 230.405]) that [are] eligible to use Form
S-3 shall use the disclosure items in Regulation S-K [17 CFR 229.10
et seq.] with specific attention to the subparagraph describing
scaled disclosure, if any. Smaller reporting companies may provide
the financial information called for by Item 310 of Regulation S-K
in lieu of the financial information called for by Item 11 in this
form.
    Release No. 33-8876. Because such scaled disclosure requirements
generally allow scaled disclosure for smaller reporting companies,
small entities that file on Form S-3 may have a comparatively lesser
compliance burden overall than larger issuers.
---------------------------------------------------------------------------

    For purposes of the Paperwork Reduction Act, we estimate the annual
decrease in the paperwork burden for small entities to comply with our
collection of information requirements to be approximately between
3,843 and 14,168 hours of in-house company personnel time (valued
between $673,000 to 2,480,000 \127\) and to be approximately between
$4,612,000 and $17,001,000 for the services of outside professionals.
---------------------------------------------------------------------------

    \127\ See n. 113.
---------------------------------------------------------------------------

E. Agency Action to Minimize Effect on Small Entities

    The Regulatory Flexibility Act directs us to consider significant
alternatives that would accomplish the stated objectives, while
minimizing any significant adverse impact on small entities. In
connection with the amendments, the Regulatory Flexibility Act requires
that we consider the following alternatives:
    1. Establishing different compliance or reporting requirements
which take into account the resources available to smaller entities;
    2. The clarification, consolidation or simplification of disclosure
for small entities;
    3. Use of performance standards rather than design standards; and
    4. Exempting smaller entities from coverage of the disclosure
requirements, or any part thereof.
    Of these alternatives, only the last appears germane to these
amendments. Alternative 3 is not applicable, as the distinction between
performance standards and design standards has no bearing on the
amendments. Alternatives 1 and 2, because they pertain to establishing
different or simplified reporting requirements for smaller entities,
also would not seem helpful in this instance because our amendments are
already expected to reduce the compliance burden on eligible smaller
entities. Regarding Alternatives 1, 2 and 4, we considered relaxing the
transaction eligibility requirements for Forms S-3 and F-3 to a greater
degree than we are adopting, which would have the effect of further
reducing the compliance burden among smaller entities by making more
entities eligible for short-form disclosure. As we stated, however, we
decline at this time to adopt a less restrictive eligibility
requirement. We believe at this time that imposing the one-third cap on
the amount of securities that smaller public companies listed on
exchanges may sell pursuant to primary offerings on Forms S-3 and F-3,
as described, will help to facilitate capital formation through the
securities markets consistent with our primary objective of investor
protection.

VI. Statutory Authority and Text of the Amendments

    The amendments described in this release are being adopted under
the authority set forth in Sections 6, 7, 8, 10 and 19(a) of the
Securities Act, as amended.

List of Subjects in 17 CFR Parts 230 and 239

    Reporting and recordkeeping requirements, Securities.

0
For the reasons set out in the preamble, the Commission amends title
17, chapter II, of the Code of Federal Regulations as follows:

PART 230--GENERAL RULES AND REGULATIONS, SECURITIES ACT OF 1933

0
1. The authority citation for part 230 continues to read in part as
follows:

    Authority: 15 U.S.C. 77b, 77c, 77d, 77f, 77g, 77h, 77j, 77r,
77s, 77z-3, 77sss, 78c, 78d, 78j, 78l, 78m, 78n, 78o, 78t, 78w,
78ll(d), 78mm, 80a-8, 80a-24, 80a-28, 80a-29, 80a-30, and 80a-37,
unless otherwise noted.
* * * * *

0
2. Amend Sec.  230.401 by:
0
a. in paragraph (g)(1), revising the cite ``paragraph (g)(2)'' to read
``paragraphs (g)(2) and (g)(3)''; and
0
b. adding paragraph (g)(3).
    The addition reads as follows:

Sec.  230.401  Requirements as to proper form.

* * * * *
    (g) * * *
    (3) Violations of General Instruction I.B.6. of Form S-3 or General
Instruction I.B.5. of Form F-3 will also violate the requirements as to
proper form under this section notwithstanding that the registration
statement may have been declared effective previously.

PART 239--FORMS PRESCRIBED UNDER THE SECURITIES ACT OF 1933

0
3. The authority citation for part 239 continues to read in part as
follows:

    Authority: 15 U.S.C. 77f, 77g, 77h, 77j, 77s, 77z-2, 77z-3,
77sss, 78c, 78l, 78m, 78n, 78o(d), 78u-5, 78w(a), 78ll, 77mm, 80a-
2(a), 80a-3, 80a-8, 80a-9, 80a-10, 80a-13, 80a-24, 80a-26, 80a-29,
80a-30, and 80a-37, unless otherwise noted.
* * * * *

0
4. Amend Form S-3 (referenced in Sec.  239.13) by adding General
Instruction I.B.6. to read as follows:

    Note: The text of Form S-3 does not, and this amendment will
not, appear in the Code of Federal Regulations.

FORM S-3--REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

* * * * *

General Instructions

I. Eligibility Requirements for Use of Form S-3 * * *

B. Transaction Requirements. * * *

    6. Limited Primary Offerings by Certain Other Registrants.
Securities to be offered for cash by or on behalf of a registrant;
provided that:
    (a) the aggregate market value of securities sold by or on behalf
of the registrant pursuant to this Instruction I.B.6. during the period
of 12 calendar months immediately prior to, and including, the sale is
no more than one-third of the aggregate market value of the voting and
non-voting common equity held by non-affiliates of the registrant;
    (b) the registrant is not a shell company (as defined in Sec.
230.405 of this chapter) and has not been a shell company for at least
12 calendar months previously and if it has been a shell company at any
time previously, has filed current Form 10 information with the
Commission at least 12 calendar months previously reflecting its status
as an entity that is not a shell company; and
    (c) the registrant has at least one class of common equity
securities listed and registered on a national securities exchange.
    Instructions.
    1. ``Common equity'' is as defined in Securities Act Rule 405
(Sec.  230.405 of this chapter). For purposes of computing the
aggregate market value of the registrant's outstanding voting and non-
voting common equity pursuant to General Instruction I.B.6.,
registrants shall use the price at which the common equity was last
sold, or the average of the bid and asked prices of such common equity,
in the principal market for such common equity as of a date within 60
days prior to the date of sale. See the definition of ``affiliate'' in
Securities Act Rule 405 (Sec.  230.405 of this chapter).
    2. For purposes of computing the aggregate market value of all
securities sold by or on behalf of the registrant in offerings pursuant
to General Instruction I.B.6. during any period of 12 calendar months,
registrants shall aggregate the gross proceeds of such sales; provided,
that, in the case of derivative securities convertible into or
exercisable for shares of the registrant's common equity, registrants
shall calculate the aggregate market value of any underlying equity
shares in lieu of the market value of the derivative securities. The
aggregate market value of the underlying equity shall be calculated by
multiplying the maximum number of common equity shares into which the
derivative securities are convertible or for which they are exercisable
as of a date within 60 days prior to the date of sale, by the same per
share market price of the registrant's equity used for purposes of
calculating the aggregate market value of the registrant's outstanding
voting and non-voting common equity pursuant to Instruction 1 to
General Instruction I.B.6. If the derivative securities have been
converted or exercised, the aggregate market value of the underlying
equity shall be calculated by multiplying the actual number of shares
into which the securities were converted or received upon exercise, by
the market price of such shares on the date of conversion or exercise.
    3. If the aggregate market value of the registrant's outstanding
voting and non-voting common equity computed pursuant to General
Instruction I.B.6. equals or exceeds $75 million subsequent to the
effective date of this registration statement, then the one-third
limitation on sales specified in General Instruction I.B.6(a) shall not
apply to additional sales made pursuant to this registration statement
on or subsequent to such date and instead the registration statement
shall be considered filed pursuant to General Instruction I.B.1.
    4. The term ``Form 10 information'' means the information that is
required by Form 10 or Form 20-F (Sec.  249.210 or Sec.  249.220f of
this chapter), as applicable to the registrant, to register under the
Securities Exchange Act of 1934 each class of securities being
registered using this form. A registrant may provide the Form 10
information in another Commission filing with respect to the
registrant.
    5. The date used in Instruction 2 to General Instruction I.B.6.
shall be the same date used in Instruction 1 to General Instruction
I.B.6.
    6. A registrant's eligibility to register a primary offering on
Form S-3 pursuant to General Instruction I.B.6. does not mean that the
registrant meets the requirements of Form S-3 for purposes of any other
rule or regulation of the Commission apart from Rule 415(a)(1)(x)
(Sec.  230.415(a)(1)(x) of this chapter).
    7. Registrants must set forth on the outside front cover of the
prospectus the calculation of the aggregate market value of the
registrant's outstanding voting and non-voting common equity pursuant
to General Instruction I.B.6. and the amount of all securities offered
pursuant to General Instruction I.B.6. during the prior 12 calendar
month period that ends on, and includes, the date of the prospectus.
    8. For purposes of General Instruction I.B.6(c), a ``national
securities exchange'' shall mean an exchange registered as such under
Section 6(a) of the Securities Exchange Act of 1934.
* * * * *
0
5. Amend Form F-3 (referenced in Sec.  239.33) by adding General
Instruction I.B.5. to read as follows:

    Note: The text of Form F-3 does not, and this amendment will
not, appear in the Code of Federal Regulations.

FORM F-3--REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

* * * * *

General Instructions

I. Eligibility Requirements for Use of Form F-3 * * *

B. Transaction Requirements * * *

    5. Limited Primary Offerings by Certain Other Registrants.
Securities to be offered for cash by or on behalf of a registrant;
provided that:
    (a) the aggregate market value of securities sold by or on behalf
of the registrant pursuant to this Instruction I.B.5. during the period
of 12 calendar months immediately prior to, and including, the sale is
no more than one-third of the aggregate market value worldwide of the
voting and non-voting common equity held by non-affiliates of the
registrant;
    (b) the registrant is not a shell company (as defined in Sec.
230.405 of this chapter) and has not been a shell company for at least
12 calendar months previously and if it has been a shell company at any
time previously, has filed current Form 10 information with the
Commission at least 12 calendar months previously reflecting its status
as an entity that is not a shell company; and
    (c) the registrant has at least one class of common equity
securities listed and registered on a national securities exchange.
    Instructions.
    1. ``Common equity'' is as defined in Securities Act Rule 405
(Sec.  230.405 of this chapter). For purposes of computing the
aggregate market value of the registrant's outstanding voting and non-
voting common equity pursuant to General Instruction I.B.5.,
registrants shall use the price at which the common equity was last
sold, or the average of the bid and asked prices of such common equity,
in the principal market for such common equity as of a date within 60
days prior to the date of sale. See the definition of ``affiliate'' in
Securities Act Rule 405 (Sec.  230.405 of this chapter).
    2. For purposes of computing the aggregate market value of all
securities sold by or on behalf of the registrant in offerings pursuant
to General Instruction I.B.5. during any period of 12 calendar months,
registrants shall aggregate the gross proceeds of such sales; provided,
that, in the case of derivative securities convertible into or
exercisable for shares of the registrant's common equity, registrants
shall calculate the aggregate market value of any underlying equity
shares in lieu of the market value of the derivative securities. The
aggregate market value of the underlying equity shall be calculated by
multiplying the maximum number of common equity shares into which the
derivative securities are convertible or for which they are exercisable
as of a date within 60 days prior to the date of sale, by the same per
share market price of the registrant's equity used for purposes of
calculating the aggregate market value of the registrant's outstanding
voting and non-voting common equity pursuant to Instruction 1 to
General Instruction I.B.5. If the derivative securities have been
converted or exercised, the aggregate market value of the underlying
equity shall be calculated by multiplying the actual number of shares
into which the securities were converted or received upon exercise, by
the market price of such shares on the date of conversion or exercise.
    3. If the aggregate market value of the registrant's outstanding
voting and non-voting common equity computed pursuant to General
Instruction I.B.5. equals or exceeds $75 million subsequent to the
effective date of this registration statement, then the one-third
limitation on sales specified in General Instruction I.B.5(a) shall not
apply to additional sales made pursuant to this registration statement
on or subsequent to such date and instead the registration statement
shall be considered filed pursuant to General Instruction I.B.1.
    4. The term ``Form 10 information'' means the information that is
required by Form 10 or Form 20-F (Sec.  249.210 or Sec.  249.220f of
this chapter), as applicable to the registrant, to register under the
Securities Exchange Act of 1934 each class of securities being
registered using this form. A registrant may provide the Form 10
information in another Commission filing with respect to the
registrant.
    5. The date used in Instruction 2 to General Instruction I.B.5.
shall be the same date used in Instruction 1 to General Instruction
I.B.5.
    6. A registrant's eligibility to register a primary offering on
Form F-3 pursuant to General Instruction I.B.5. does not mean that the
registrant meets the requirements of Form F-3 for purposes of any other
rule or regulation of the Commission apart from Rule 415(a)(1)(x)
(Sec.  230.415(a)(1)(x) of this chapter).
    7. Registrants must set forth on the outside front cover of the
prospectus the calculation of the aggregate market value of the
registrant's outstanding voting and non-voting common equity pursuant
to General Instruction I.B.5. and the amount of all securities offered
pursuant to General Instruction I.B.5. during the prior 12 calendar
month period that ends on, and includes, the date of the prospectus.
    8. For purposes of General Instruction I.B.5(c), a ``national
securities exchange'' shall mean an exchange registered as such under
Section 6(a) of the Securities Exchange Act of 1934.
* * * * *

    By the Commission.

    Dated: December 19, 2007.
Nancy M. Morris,
Secretary.
 [FR Doc. E7-24968 Filed 12-26-07; 8:45 am]

BILLING CODE 8011-01-P


[Federal Register Volume 83, Number 35 (Wednesday, February 21, 2018)]
[Notices]
[Pages 7512-7513]
[FR Doc No: 2018-03450]

=======================================================================
-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-82712; File No. SR-ISE-2018-14]

Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Amend the
Exchange's INET Port Fees To Indicate That Those Fees Are Prorated

February 14, 2018.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on February 9, 2018, Nasdaq ISE, LLC (``ISE'' or ``Exchange'') filed
with the Securities and Exchange Commission (``Commission'') the
proposed rule change as described in Items I and II below, which Items
have been prepared by the Exchange. The Commission is publishing this
notice to solicit comments on the proposed rule change from interested
persons.
---------------------------------------------------------------------------

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

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

    The Exchange proposes to amend INET Port Fees at Section V, D to
indicate those fees are not prorated.
    The text of the proposed rule change is available on the Exchange's
website at http://ise.cchwallstreet.com/, at the principal office of
the Exchange, and at the Commission's Public Reference Room.

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

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

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

1. Purpose
    The purpose of the proposed rule change is to include language
within the Schedule of Fees at Section V, D, entitled ``INET Port
Fees'' to clarify that the port fees in this section are not subject to
proration. Today, the Exchange does not prorate the pricing for these
ports.
Background
    The Exchange previously filed \3\ to: (1) Establish ports and
gateways that members use to connect to the Exchange with the migration
of the Exchange's trading system to the Nasdaq INET architecture, and
(2) amend the Schedule of Fees to adopt fees for those ports and
gateways. The Exchange established fees for the following connectivity
options that are available in connection with the Exchange's trading
system: Specialized Quote Feed (``SQF''),\4\
---------------------------------------------------------------------------

    \3\ See Securities and Exchange Act Release No. 81095 (July 13,
2017), 82 FR 32409 (July 7, 2017) (SR-ISE-2017-62).
    \4\ SQF is an interface that allows market makers to connect and
send quotes, sweeps and auction responses into the Exchange. Data
includes the following: (1) Options Auction Notifications (e.g.,
opening imbalance, Flash, PIM, Solicitation and Facilitation or
other information); (2) Options Symbol Directory Messages; (3)
System Event Messages (e.g., start of messages, start of system
hours, start of quoting, start of opening); (4) Option Trading
Action Messages (e.g., halts, resumes); (5) Execution Messages; (6)
Quote Messages (quote/sweep messages, risk protection triggers or
purge notifications).
---------------------------------------------------------------------------

    SQF Purge,\5\ Dedicated SQF Host,\6\ Ouch to Trade Options
(``OTTO''),\7\ Clearing Trade Interface (``CTI''),\8\ Financial
Information eXchange (``FIX''),\9\ FIX Drop,\10\ Disaster Recovery,\11\
and Market Data Port.\12\ The Exchange proposes to add a clarifying
sentence to make clear that port fees are assessed in full month
increments and are not prorated, to avoid any confusion.
---------------------------------------------------------------------------

    \5\ SQF Purge is a specific port for the SQF interface that only
receives and notifies of purge requests from the market maker.
Dedicated SQF Purge Ports enable market makers to seamlessly manage
their ability to remove their quotes in a swift manner.
    \6\ A Dedicated SQF Host is an optional offering available to
Market Makers--i.e., Primary Market Makers (``PMMs'') and
Competitive Market Makers (``CMMs'')--only for their SQF Port & SQF
Purge Port connectivity. A Dedicated SQF Host provides the PMM or
CMM with assurance that their SQF Port and SQF Purge Port connection
to the Exchange resides on a host that is not shared with other PMMs
and CMMs.
    \7\ OTTO is an interface that allows market participants to
connect and send orders, auction orders and auction responses into
the Exchange. Data includes the following: (1) Options Auction
Notifications (e.g., Flash, PIM, Solicitation and Facilitation or
other information); (2) Options Symbol Directory Messages; (3)
System Event Messages (e.g., start of messages, start of system
hours, start of quoting, start of opening); (5) Option Trading
Action Messages (e.g., halts, resumes); (6) Execution Messages; (7)
Order Messages (order messages, risk protection triggers or purge
notifications).
    \8\ CTI is a real-time clearing trade update message that is
sent to a member after an execution has occurred and contains trade
details. The message containing the trade details is also
simultaneously sent to The Options Clearing Corporation (``OCC'').
The information includes, among other things, the following: (i) The
Clearing Member Trade Agreement or ``CMTA'' or ``OCC'' number; (ii)
Exchange badge or house number; (iii) the Exchange internal firm
identifier; and (iv) an indicator which will distinguish electronic
and non-electronically delivered orders; (v) liquidity indicators
and transaction type for billing purposes; (vi) capacity.
    \9\ FIX is an interface that allows market participants to
connect and send orders and auction orders into the Exchange. Data
includes the following: (1) Options Symbol Directory Messages; (2)
System Event Messages (e.g., start of messages, start of system
hours, start of quoting, start of opening); (3) Option Trading
Action Messages (e.g., halts, resumes); (4) Execution Messages; (5)
Order Messages (order messages, risk protection triggers or purge
notifications).
    \10\ FIX Drop is a real-time order and execution update message
that is sent to a member after an order been received/modified or an
execution has occurred and contains trade details. The information
includes, among other things, the following: (1) Executions; (2)
cancellations; (3) modifications to an existing order (4) busts or
post-trade corrections.
    \11\ Disaster Recovery ports provide connectivity to the
exchange's disaster recovery data center in Chicago to be utilized
in the event the exchange has to fail over during the trading day.
DR Ports are available for SQF, SQF Purge, Dedicated SQF, CTI, OTTO,
FIX and FIX Drop.
    \12\ Market Data ports provide connectivity to the Exchange's
proprietary market data feeds, including the Nasdaq ISE Real-time
Depth of Market Raw Data Feed (``Depth of Market Feed''), the Nasdaq
ISE Order Feed (``Order Feed''), the Nasdaq ISE Top Quote Feed
(``Top Quote Feed''), the Nasdaq ISE Trades Feed (``Trades Feed''),
and the Nasdaq ISE Spread Feed (``Spread Feed''). Each of the feeds
described above, with the exception of the Trades Feed, have
previously been established as market data offerings of the
Exchange, and market participants are charged for subscriptions to
these products. The Trades Feed is a free market data product
provided to subscribers of at least one of the fee liable market
data products described above. In connection with the adoption of
Market Data ports described above, the Exchange further proposes to
establish the Trades Feed. Market Data ports are available via
multicast, TCP, or as an intra-day snapshot, except that the intra-
day snapshot option is available solely for the Depth of Market
Feed, Top Quote Feed, and Spread Feed.
---------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\13\ in general, and furthers the

objectives of Section 6(b)(5) of the Act,\14\ in particular, in that it
is designed to promote just and equitable principles of trade, to
remove impediments to and perfect the mechanism of a free and open
market and a national market system, and, in general to protect
investors and the public interest, by clearly specifying in Section V,
D that the Exchange's pricing regarding INET ports is not prorated. The
Exchange believes that its decision to not prorate these ports is
consistent with the Act because prorating billing results in complexity
and increased costs associated with the billing process. The Exchange
notes that this proposal does not amend the Exchange's current billing
practice.
---------------------------------------------------------------------------

    \13\ 15 U.S.C. 78f(b).
    \14\ 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 not necessary or appropriate in
furtherance of the purposes of the Act. The Exchange will uniformly
assess the fees in Section V, D to all ISE Members in a uniform manner.

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

    No written comments were either solicited or received.

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

    Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A)(iii) of the Act \15\ and
subparagraph (f)(6) of Rule 19b-4 thereunder.\16\
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    \15\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \16\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires the Exchange to give the Commission written notice of the
Exchange's intent to file the proposed rule change, along with a
brief description and text of the proposed rule change, at least
five business days prior to the date of filing of the proposed rule
change, or such shorter time as designated by the Commission. The
Exchange has satisfied this requirement.
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) \17\ normally
does not become operative prior to 30 days after the date of the
filing. However, Rule 19b-4(f)(6)(iii) \18\ 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 so that the Exchange
may clarify that the INET Port Fees in Chapter V, D will not be
prorated to avoid any misunderstanding. The Exchange notes that adding
language to clarify that the Exchange will not prorate the INET Port
Fees in Section V, D does not significantly affect the protection of
investors or the public interest because there is no substantive change
to the manner in which the Exchange bills these services. The
Commission believes that waiver of the 30-day operative delay is
consistent with the protection of investors and the public interest.
Accordingly, the Commission hereby waives the operative delay and
designates the proposed rule change as operative upon filing.\19\
---------------------------------------------------------------------------

    \17\ 17 CFR 240.19b-4(f)(6).
    \18\ 17 CFR 240.19b-4(f)(6)(iii).
    \19\ For purposes only of waiving the 30-day operative delay,
the Commission has also 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 summarily may temporarily suspend such rule
change if it appears to the Commission that such action is: (i)
Necessary or appropriate in the public interest; (ii) for the
protection of investors; or (iii) otherwise in furtherance of the
purposes of the Act. If the Commission takes such action, the
Commission shall institute proceedings to determine whether the
proposed rule should be approved or disapproved.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include
File Number SR-ISE-2018-14 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-ISE-2018-14. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549, on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of the filing also will be available for inspection
and copying at the principal office of the Exchange. All comments
received will be posted without change. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-ISE-2018-14 and should be submitted on
or before March 14, 2018.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\20\
---------------------------------------------------------------------------

    \20\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-03450 Filed 2-20-18; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register: January 16, 2007 (Volume 72, Number 9)]
[
Notices]
[Page 1719-1721]
[DOCID:fr16ja07-48]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory

[Docket No. CP07-10-000]

Dominion Transmission, Inc.; Notice of Intent To Prepare an
Environmental Assessment for the Proposed TL-263 Expansion Project and
Request for Comments on Environmental Issues

January 9, 2007.
    The staff of the Federal Energy Regulatory Commission (FERC or
Commission) is preparing an environmental assessment (EA) that will
describe the impacts of constructing and operating the proposed natural
gas pipeline TL-263 Expansion Project (Project) sponsored by Dominion
Transmission Inc. (DTI).\1\
---------------------------------------------------------------------------

    \1\ DTI's application was filed with the Commission under
section 7 of the Natural Gas Act and Part 157 of the Commission's
regulations.
---------------------------------------------------------------------------

    The proposed Project would include the construction, replacement,
installation, modification and operation of natural gas pipeline
facilities in Boone and Wyoming Counties, West Virginia to increase the
capacity, improve the efficiency and maintain the integrity of DTI's
existing natural gas delivery system. Specifically, DTI is seeking
authority to undertake the following activities:
     Construct approximately 6.43 miles of 12-inch-diameter
natural gas pipeline and associated facilities (TL-570);
     Replace six 12-inch-diameter pipeline sections along the
existing TL-263 natural gas pipeline (a total of approximately 601 feet
of pipeline);
     Install overpressure protection; and
     Modify the existing Loup Creek Compressor Station.
    A map indicating the general locations of the proposed Project
facilities is provided in Appendix 1.\2\
---------------------------------------------------------------------------

    \2\ The appendices referenced in this notice are not being
printed in the Federal Register. Copies of all appendices, other
than Appendix 1 (maps), are available on the Commission's website at
the ``eLibrary'' link or from the Commission's Public Reference
Room, 888 First Street, NE., Washington, DC 20426, or call (202)
502-8371. For instructions on connecting to eLibrary refer to the
last page of this notice.
---------------------------------------------------------------------------

    Construction of the new 12-inch-diameter natural gas pipeline which
would be known as TL-570 would be

adjacent to the existing TL-263 pipeline and would require a 60- to 75-
foot-wide construction right-of-way (ROW), affecting approximately
64.68 acres of land. Following construction, approximately 26.53 acres
of land would be required for use as permanent ROW and associated
aboveground facilities.
    The replacement of the six 12-inch-diameter pipeline sections along
the existing TL-263 natural gas pipeline would require a 75-foot-wide
construction ROW, affecting approximately 5.17 acres of land. No
additional lands would be required for maintenance of these replaced
pipeline sections.
    Other construction work areas, access roads and additional
temporary work spaces would require the use of approximately 47.29
acres of land during construction and approximately 5.96 acres of land
during operation.
    Construction of the proposed Project would temporarily require the
use of approximately 123.99 acres of land. Operation of the proposed
Project would permanently require the use of approximately 32.49 acres
of land.
    If you are a landowner receiving this notice, you may be contacted
by a DTI representative about the acquisition of an easement to support
this project. DTI would seek to negotiate a mutually acceptable
agreement for any easement; however, if the project is approved by the
Commission, this approval conveys with it the right of eminent domain.
If easement negotiations between you and DTI fail, it would have the
authority to initiate condemnation proceedings.
    A fact sheet prepared by the Commission entitled ``An Interstate
Natural Gas Facility on my Land? What do I need to know?'' should have
been attached to the project notice provided to landowners by DTI. This
fact sheet addresses a number of typically asked questions, including
the use of eminent domain and how to participate in the Commission's
proceedings. This fact sheet is also available online at http://
www.ferc.gov
.

The EA Process

    The National Environmental Policy Act (NEPA) requires the
Commission to consider the environmental impacts of a proposed project
whenever it considers the issuance of a Certificate of Public
Convenience and Necessity as has been requested by DTI. NEPA also
requires the Commission to undertake a process to identify and address
concerns the public may have about proposed projects. This process is
commonly referred to as ``scoping''. The main goal of the ``scoping''
process is to identify public concerns and then address them in the EA.
By this Notice of Intent, the Commission requests public comments on
environmental issues that should be addressed in the EA.
    The Commission's staff will prepare an EA that will describe the
potential environmental impacts resulting from construction and
operation of the proposed Project under the following general headings:
     Geology and Soils
     Water Resources and Wetlands
     Vegetation, Wildlife and Fisheries
     Threatened and Endangered or Special Status Species
     Land Use
     Cultural Resources
     Air Quality and Noise
     Reliability and Safety
    The Commission's staff will also evaluate possible alternatives to
the proposed project or portions of the project and make
recommendations on how to lessen or avoid impacts to the identified
environmental resources.
    Upon completion of the staff's environmental assessment and
depending on the issues identified and/or comments received during the
``scoping'' process, the EA may be published and mailed to federal,
state and local government agencies; elected officials; environmental
and public interest groups; affected landowners; other interested
parties; local libraries and newspapers; and the Commission's official
service list for this proceeding. A 30-day comment period would be
allotted for review of the EA if it is published. Staff would consider
all comments submitted concerning the EA before making their
recommendations to the Commission.
    To ensure your comments are considered, please carefully follow the
instructions in the public participation section of this notice.

Public Participation

    You can make a difference by providing us with your comments or
concerns about the proposed project. By becoming a commentor, your
comments and concerns will be addressed in the EA and considered by the
Commission. The more specific your comments, the more useful they will
be. Generally, comments are submitted regarding the potential
environmental effects, reasonable alternatives and measures to avoid or
lessen environmental impact.
    This notice and request for environmental comments is being sent to
affected landowners; federal, state and local government
representatives and agencies; environmental and public interest groups;
other interested parties in this proceeding; and local libraries and
newspapers. We encourage government representatives to notify their
constituents of this notice and to encourage their comments concerning
this proposed project.
    To ensure that your comments are properly recorded, please mail
them to our office on or before February 8, 2007. When filing comments
please:
     Send an original and two copies of your letter to: Magalie
R. Salas, Secretary, Federal Energy Regulatory Commission, 888 First
St., NE., Room 1A, Washington, DC 20426.
     Label one copy of your comments to the attention of Gas
Branch 2, DG2E; and Reference Docket No. CP07-10-000 on the original
and both copies
    Please note that the Commission strongly encourages the electronic
filing (``eFiling'') of comments, interventions or protests to this
proceeding. Instructions on how to ``eFile'' comments can be found on
the Commission's Web site at http://www.ferc.gov under the ``Documents

and Filings'' link.

Becoming an Intervenor

    In addition to participating in the EA scoping process, you may
want to become an official party to the proceeding known as an
``intervenor''. Intervenors play a more formal role in the process.
Among other things, intervenors have the right to receive copies of
case-related Commission documents and filings by other intervenors.
Likewise, each intervenor must send one electronic copy (using the
Commission's eFiling system) or 14 paper copies of its filings to the
Secretary of the Commission and must send a copy of its filings to all
other parties on the Commission's service list for this proceeding. If
you want to become an intervenor you must file a motion to intervene
according to Rule 214 of the Commission's Rules of Practice and
Procedure (18 CFR 385.214) \3\. Only intervenors have the right to seek
rehearing of the Commission's decision.
---------------------------------------------------------------------------

    \3\ Interventions may also be filed electronically via the
Internet in lieu of paper. See the previous discussion on filing
comments electronically.
---------------------------------------------------------------------------

    Affected landowners and parties with environmental concerns may be
granted intervenor status upon showing good cause by stating that they
have a clear and direct interest in this proceeding which would not be
adequately represented by any other parties. You do not need intervenor
status to have your environmental comments considered.

Environmental Mailing List

    This notice has been sent to all known individuals, organizations,
and

government entities interested in and/or potentially affected by the
proposed Project. This includes all landowners who are potential right-
of-way grantors, whose property may be used temporarily for project
purposes, or who own homes within distances defined in the Commission's
regulations of certain aboveground facilities.
    If you would like to remain on the environmental mailing list for
this proposed project, please return the Mailing List Retention Form
found in Appendix 2. If you do not comment on this project or return
this form, you will be taken off of the staff's environmental mailing
list.

Additional Information

    Additional information about the proposed Project is available from
the Commission's Office of External Affairs, at 1-866-208-FERC or on
the FERC Internet Web site (http://www.ferc.gov).

    To access information via the FERC Web site click on the
``eLibrary'' link then click on ``General Search'' and enter the docket
number excluding the last three digits in the Docket Number field. Be
sure you have selected an appropriate date range. The ``eLibrary'' link
provides access to the texts of formal documents issued by the
Commission, such as orders, notices, and rulemakings. For assistance
with ``eLibrary'', please contact FERC Online Support at

<EMAIL_ADDRESS>or toll free at 1-866-208-3676, or for TTY,

contact<PHONE_NUMBER>.
    In addition, the Commission now offers a free service called
eSubscription which allows you to keep track of all formal issuances
and submittals in specific dockets. This can reduce the amount of time
you spend researching proceedings by automatically providing you with
notification of these filings, document summaries and direct links to
these documents. To learn more about eSubscription and to sign-up for
this service please go to http://www.ferc.gov/esubscribenow.htm.

    Public meetings and/or site visits along with other Project related
information will be posted on the Commission's calendar located at
http://www.ferc.gov/EventCalendar/EventsList.aspx.

Magalie R. Salas,
Secretary.
 [FR Doc. E7-445 Filed 1-12-07; 8:45 am]

BILLING CODE 6717-01-P


[Federal Register: April 25, 2006 (Volume 71, Number 79)]
[Notices]
[Page 23917-23918]
[DOCID:fr25ap06-69]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Notice of Commission Staff Attendance at Midwest ISO Summer
Readiness Workshop and Ancillary Services Roundtable

Issued April 18, 2006.
    The Federal Energy Regulatory Commission hereby gives notice that
members of its staff may attend the following Midwest Independent
Transmission System Operator, Inc. (Midwest ISO) Summer Readiness
Workshop and Ancillary Service Roundtable:
     Midwest ISO Summer Readiness Workshop--April 20, 2006, 11
a.m.-4 p.m. (e.s.t.). Lakeside Conference Center, 630 West Carmel
Drive, Carmel, IN 46032.
     Midwest ISO Ancillary Service Roundtable--April 26, 2006,
8 a.m.-5 p.m. (e.s.t.); and April 27, 2006, 9 a.m.-12 p.m. (e.s.t.)
Lakeside Conference Center, 630 West Carmel Drive, Carmel, IN 46032.
    For further information regarding the times and agendas of
meetings, please see http://www.midwestiso.org/calendar/index.php or

http://www.midwestmarket.org.home.

    The discussions at each of the meetings described above may address
matters at issue in the following proceedings:
    Docket No. ER02-2595, et al., Midwest Independent Transmission
System Operator, Inc.
    Docket No. ER04-375, Midwest Independent Transmission System
Operator, Inc., et al.
    Docket No. ER04-458, et al., Midwest Independent Transmission
System Operator, Inc.
    Docket Nos. ER04-691, EL04-104 and ER04-106, et al., Midwest
Independent Transmission System Operator, Inc., et al.
    Docket No. ER05-6, et al., Midwest Independent Transmission System
Operator, Inc., et al.
    Docket No. ER05-752, Midwest Independent Transmission System
Operator, Inc. and PJM Interconnection, L.L.C.
    Docket No. ER05-1083, et al., Midwest Independent Transmission
System Operator, Inc., et al.
    Docket No. ER05-1085, et al., Midwest Independent Transmission
System Operator, Inc.
    Docket No. ER05-1138, Midwest Independent Transmission System
Operator, Inc.

    Docket No. ER05-1201, Midwest Independent Transmission System
Operator, Inc.
    Docket No. ER05-1230, Midwest Independent Transmission System
Operator, Inc.
    Docket No. EL05-103, Northern Indiana Power Service Co. v. Midwest
Independent Transmission System Operator, Inc. and PJM Interconnection,
L.L.C.
    Docket No. EL05-128, Quest Energy, L.L.C. v. Midwest Independent
Transmission System Operator, Inc.
    Docket No. ER06-18, Midwest Independent Transmission System
Operator, Inc.
    Docket No. ER06-27, Midwest Independent Transmission System
Operator, Inc., et al.
    Docket Nos. EC06-4 and ER06-20, LGE Energy LLC, et al.
    Docket No. ER06-360, et al., Midwest Independent Transmission
System Operator, Inc., et al.
    Docket No. ER06-356, Midwest Independent Transmission System
Operator, Inc.
    Docket No. ER06-532, Midwest Independent Transmission System
Operator, Inc.
    Docket No. EL06-31, Midwest Independent Transmission System
Operator, Inc., et al.
    Docket No. EL06-49, Midwest Independent Transmission System
Operator, Inc., et al.
    Docket No. ER06-56, Midwest Independent Transmission System
Operator, Inc.
    These meetings are open to the public.
    For more information, contact Patrick Clarey, Office of Energy
Markets and Reliability, Federal Energy Regulatory Commission at (317)
249-5937 or<EMAIL_ADDRESS>or Christopher Miller, Office of
Energy Markets and Reliability, Federal Energy Regulatory Commission at
(317) 249-5936 or<EMAIL_ADDRESS>
Magalie R. Salas,
Secretary.
 [FR Doc. E6-6172 Filed 4-24-06; 8:45 am]

BILLING CODE 6717-01-P