[Federal Register Volume 83, Number 3 (Thursday, January 4, 2018)]
[Rules and Regulations]
[Pages 463-466]
[FR Doc No: 2017-28454]

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Rules and Regulations
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains regulatory documents
having general applicability and legal effect, most of which are keyed
to and codified in the Code of Federal Regulations, which is published
under 50 titles pursuant to 44 U.S.C. 1510.

The Code of Federal Regulations is sold by the Superintendent of Documents.

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Federal Register / Vol. 83, No. 3 / Thursday, January 4, 2018 / Rules
and Regulations

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 25

[Docket No. FAA-2017-0963; Special Conditions No. 25-707-SC]

Special Conditions: Learjet Inc., Model 45 Airplane; Non-
Rechargeable Lithium Battery Installations

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final special conditions; request for comment.

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SUMMARY: These special conditions are issued for non-rechargeable
lithium battery installations on the Learjet Inc. (Learjet) Model 45
airplane. Non-rechargeable lithium batteries are a novel or unusual
design feature when compared to the state of technology envisioned in
the airworthiness standards for transport-category airplanes. The
applicable airworthiness regulations do not contain adequate or
appropriate safety standards for this design feature. These special
conditions contain the additional safety standards that the
Administrator considers necessary to establish a level of safety
equivalent to that established by the existing airworthiness standards.

DATES: This action is effective on Learjet on January 4, 2018. We must
receive your comments by February 20, 2018.

ADDRESSES: Send comments identified by docket number FAA-2017-0963
using any of the following methods:
     Federal eRegulations Portal: Go to http://www.regulations.gov/ and follow the online instructions for sending
your comments electronically.
     Mail: Send comments to Docket Operations, M-30, U.S.
Department of Transportation (DOT), 1200 New Jersey Avenue SE, Room
W12-140, West Building Ground Floor, Washington, DC 20590-0001.
     Hand Delivery or Courier: Take comments to Docket
Operations in Room W12-140 of the West Building Ground Floor at 1200
New Jersey Avenue SE, Washington, DC, between 9 a.m. and 5 p.m., Monday
through Friday, except Federal holidays.
     Fax: Fax comments to Docket Operations at<PHONE_NUMBER>.
    Privacy: The FAA will post all comments it receives, without
change, to http://www.regulations.gov/, including any personal
information the commenter provides. Using the search function of the
docket website, anyone can find and read the electronic form of all
comments received into any FAA docket, including the name of the
individual sending the comment (or signing the comment for an
association, business, labor union, etc.). DOT's complete Privacy Act
Statement can be found in the Federal Register published on April 11,
2000 (65 FR 19477-19478), as well as at http://DocketsInfo.dot.gov/ gov/.
    Docket: Background documents or comments received may be read at
http://www.regulations.gov/ at any time. Follow the online instructions
for accessing the docket or go to Docket Operations in Room W12-140 of
the West Building Ground Floor at 1200 New Jersey Avenue SE,
Washington, DC, between 9 a.m. and 5 p.m., Monday through Friday,
except Federal holidays.

FOR FURTHER INFORMATION CONTACT: Nazih Khaouly, Airplane and Flight
Crew Interface Branch, AIR-671, Transport Airplane Directorate,
Aircraft Certification Service, 1601 Lind Avenue SW, Renton, Washington
98057-3356; telephone<PHONE_NUMBER>; facsimile<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Future Requests for Installation of Non-Rechargeable Lithium Batteries

    The FAA anticipates that non-rechargeable lithium batteries will be
installed in most makes and models of transport-category airplanes. We
intend to require special conditions for certification projects
involving non-rechargeable lithium battery installations to address
certain safety issues until we can revise the airworthiness
requirements. Applying special conditions to these installations across
the range of transport-category airplanes will ensure regulatory
consistency.
    Typically, the FAA issues special conditions after receiving an
application for type certificate approval of a novel or unusual design
feature. However, the FAA has found that the presence of non-
rechargeable lithium batteries in certification projects is not always
immediately identifiable, because the battery itself may not be the
focus of the project. Meanwhile, the inclusion of these batteries has
become virtually ubiquitous on in-production transport category
airplanes, which shows that there will be a need for these special
conditions. Also, delaying the issuance of special conditions until
after each design application is received could lead to costly
certification delays. Therefore, the FAA finds it necessary to issue
special conditions applicable to these battery installations on
particular makes and models of aircraft.
    On April 22, 2016, the FAA published special conditions no. 25-612-
SC in the Federal Register (81 FR 23573) applicable to Gulfstream
Aerospace Corporation for the Model GVI airplane. Those were the first
special conditions the FAA issued for non-rechargeable lithium battery
installations. We explained in that document our decision to make those
special conditions effective one year after publication in the Federal
Register, which is April 22, 2017. In those special conditions, the FAA
stated its intention to apply non-rechargeable lithium battery special
conditions to design changes on other airplane makes and models applied
for after this same date.
    Section 1205 of the FAA Reauthorization Act of 1996 requires the
FAA to consider the extent to which Alaska is not served by
transportation modes other than aviation, and to establish appropriate
regulatory distinctions when modifying airworthiness regulations that
affect intrastate aviation in Alaska. In consideration of this
requirement and the overall impact on safety, the FAA does not intend
to require non-rechargeable lithium battery special conditions for
design changes that only replace a 121.5 megahertz (MHz) emergency-
locator transmitter (ELT) with a 406 MHz ELT that meets Technical
Standard Order C126b, or later revision, on transport airplanes
operating only in Alaska. This will support FAA efforts of encouraging
operators in Alaska to upgrade to a 406 MHz ELT. These ELTs provide
significantly improved accuracy for

lifesaving services to locate an accident site in Alaskan terrain. The
FAA considers that the safety benefits from upgrading to a 406 MHz ELT
for Alaska operations will outweigh the battery fire risk.

Comments Invited

    The substance of these special conditions has been subjected to the
public-notice and comment period in prior instances and has been
derived without substantive change from those previously issued. It is
unlikely that prior public comment would result in a significant change
from the substance contained herein. Therefore, the FAA has determined
that prior public notice and comment are unnecessary and impracticable,
and good cause exists for adopting these special conditions upon
publication in the Federal Register. The FAA is requesting comments to
allow interested persons to submit views that may not have been
submitted in response to the prior opportunities for comment described
above.
    We invite interested people to take part in this rulemaking by
sending written comments, data, or views. The most helpful comments
reference a specific portion of the special conditions, explain the
reason for any recommended change, and include supporting data.
    We will consider all comments we receive by the closing date for
comments. We may change these special conditions based on the comments
we receive.

Background

    Learjet holds type certificate no. T00008WI, which provides the
certification basis for the Model 45 airplane. The Model 45 airplane is
a twin-engine, transport-category airplanes with a passenger seating
capacity of 9 and a maximum takeoff weight of 20,500 pounds.
    The FAA is issuing these special conditions for non-rechargeable
lithium battery installations on the Model 45 airplane. The current
battery requirements in title 14, Code of Federal Regulations (14 CFR)
part 25 are inadequate for addressing an airplane with non-rechargeable
lithium batteries.

Type Certification Basis

    Under the provisions of 14 CFR 21.101, Learjet must show that the
Model 45 airplane meets the applicable provisions of the regulations
listed in type certificate no. T00008WI or the applicable regulations
in effect on the date of application for the change, except for earlier
amendments as agreed upon by the FAA. In addition, the certification
basis includes certain special conditions, exemptions, or later amended
sections that are not relevant to these special conditions.
    If the Administrator finds that the applicable airworthiness
regulations (i.e., 14 CFR part 25) do not contain adequate or
appropriate safety standards for the Model 45 airplane because of a
novel or unusual design feature, special conditions are prescribed
under the provisions of Sec.  21.16.
    Special conditions are initially applicable to the airplane model
for which they are issued. Should the type certificate for that model
be amended later to include any other model that incorporates the same
novel or unusual design feature, or should any other model already
included on the same type certificate be modified to incorporate the
same novel or unusual design feature, these special conditions would
also apply to the other model under Sec.  21.101.
    In addition to the applicable airworthiness regulations and special
conditions, the Model 45 airplane must comply with the fuel-vent and
exhaust-emission requirements of 14 CFR part 34, and the noise-
certification requirements of 14 CFR part 36.
    The FAA issues special conditions, as defined in 14 CFR 11.19, in
accordance with Sec.  11.38, and they become part of the type
certification basis under Sec.  21.101.

Novel or Unusual Design Feature

    The novel or unusual design feature is the installation of non-
rechargeable lithium batteries.
    For the purpose of these special conditions, we refer to a battery
and battery system as a battery. A battery system consists of the
battery and any protective, monitoring, and alerting circuitry or
hardware inside or outside of the battery. It also includes vents
(where necessary) and packaging.

Discussion

    The FAA derived the current regulations governing installation of
batteries in transport-category airplanes from Civil Air Regulations
(CAR) 4b.625(d), as part of the recodification of CAR 4b that
established 14 CFR part 25, in February 1965. This recodification
basically reworded the CAR 4b battery requirements, which are currently
in Sec.  25.1353(b)(1) through (4). Non-rechargeable lithium batteries
are novel and unusual with respect to the state of technology
considered when these requirements were codified. These batteries
introduce higher energy levels into airplane systems through new
chemical compositions in various battery cell sizes and construction.
Interconnection of these cells in battery packs introduces failure
modes that require unique design considerations, such as provisions for
thermal management.
    Recent events involving rechargeable and non-rechargeable lithium
batteries prompted the FAA to initiate a broad evaluation of these
energy storage technologies. In January 2013, two independent events
involving rechargeable lithium-ion batteries revealed unanticipated
failure modes. A National Transportation Safety Board (NTSB) letter to
the FAA, dated May 22, 2014, which is available at http://www.ntsb.gov,
filename A-14-032-036.pdf, describes these events.
    On July 12, 2013, an event involving a non-rechargeable lithium
battery in an emergency-locator transmitter installation demonstrated
unanticipated failure modes. The United Kingdom's Air Accidents
Investigation Branch Bulletin S5/2013 describes this event.
    Some known uses of rechargeable and non-rechargeable lithium
batteries on airplanes include:
     Flight deck and avionics systems such as displays, global
positioning systems, cockpit voice recorders, flight-data recorders,
underwater-locator beacons, navigation computers, integrated avionics
computers, satellite network and communication systems, communication
management units, and remote-monitor electronic line-replaceable units;
     Cabin safety, entertainment, and communications equipment,
including emergency-locator transmitters, life rafts, escape slides,
seatbelt air bags, cabin-management systems, Ethernet switches, routers
and media servers, wireless systems, internet and in-flight
entertainment systems, satellite televisions, remotes, and handsets;
     Systems in cargo areas including door controls, sensors,
video-surveillance equipment, and security systems.
    Some known potential hazards and failure modes associated with non-
rechargeable lithium batteries are:
     Internal failures: In general, these batteries are
significantly more susceptible to internal failures that can result in
self-sustaining increases in temperature and pressure (i.e., thermal
runaway) than their nickel-cadmium or lead-acid counterparts. The
metallic lithium can ignite, resulting in a self-sustaining fire or
explosion.
     Fast or imbalanced discharging: Fast discharging or an
imbalanced discharge of one cell of a multi-cell battery may create an
overheating condition that results in an

uncontrollable venting condition, which in turn leads to a thermal
event or an explosion.
     Flammability: Unlike nickel-cadmium and lead-acid
batteries, lithium batteries use higher energy and current in an
electrochemical system that can be configured to maximize energy
storage of lithium. They also use liquid electrolytes that can be
extremely flammable. The electrolyte, as well as the electrodes, can
serve as a source of fuel for an external fire if the battery casing is
breached.
    Special condition no. 1 of these special conditions requires that
each individual cell within a non-rechargeable lithium battery be
designed to maintain safe temperatures and pressures. Special condition
no. 2 addresses these same issues, but for the entire battery. Special
condition no. 2 requires that the battery be designed to prevent
propagation of a thermal event, such as self-sustained, uncontrollable
increases in temperature or pressure from one cell to adjacent cells.
    Special conditions nos. 1 and 2 are intended to ensure that the
non-rechargeable lithium battery and its cells are designed to
eliminate the potential for uncontrollable failures. However, a certain
number of failures will occur due to various factors beyond the control
of the battery designer. Therefore, other special conditions are
intended to protect the airplane and its occupants if failure occurs.
    Special conditions 3, 7, and 8 are self-explanatory.
    Special condition no. 4 makes it clear that the flammable-fluid
fire protection requirements of Sec.  25.863 apply to non-rechargeable
lithium battery installations. Section 25.863 is applicable to areas of
the airplane that could be exposed to flammable-fluid leakage from
airplane systems. Non-rechargeable lithium batteries contain an
electrolyte that is a flammable fluid.
    Special condition no. 5 requires that each non-rechargeable lithium
battery installation not damage surrounding structure or adjacent
systems, equipment, or electrical wiring from corrosive fluids or gases
that may escape in such a way as to cause a major or more severe
failure condition.
    While special condition no. 5 addresses corrosive fluids and gases,
special condition no. 6 addresses heat. Special condition no. 6
requires that each non-rechargeable lithium battery installation has
provisions to prevent any hazardous effect on airplane structure or
systems caused by the maximum amount of heat the battery installation
can generate due to any failure of it or its individual cells. The
means of meeting special conditions nos. 5 and 6 may be the same, but
the requirements are independent and address different hazards.
    These special conditions apply to all non-rechargeable lithium
battery installations in lieu of Sec.  25.1353(b)(1) through (4) at
Amendment 25-123 or Sec.  25.1353(c)(1) through (4) at earlier
amendments. Those regulations remain in effect for other battery
installations.
    These special conditions contain the additional safety standards
that the Administrator considers necessary to establish a level of
safety equivalent to that established by the existing airworthiness
standards.

Applicability

    These special conditions are applicable to the Learjet Model 45
airplane. Should Learjet apply at a later date for a change to the type
certificate to include another model incorporating the same novel or
unusual design feature, these special conditions would apply to that
model as well.
    These special conditions are only applicable to design changes
applied for after the effective date.
    These special conditions are not applicable to changes to
previously certified non-rechargeable lithium battery installations
where the only change is either cosmetic, or to relocate the
installation to improve the safety of the airplane and occupants.
Previously certified non-rechargeable lithium battery installations, as
used in this paragraph, are those installations approved for
certification projects applied for on or before the effective date of
these special conditions. A cosmetic change is a change in appearance
only, and does not change any function or safety characteristic of the
battery installation. These special conditions are also not applicable
to unchanged, previously certified non-rechargeable lithium battery
installations that are affected by a change in a manner that improves
the safety of its installation. The FAA determined that these
exclusions are in the public interest because the need to meet all of
the special conditions might otherwise deter these design changes that
improve safety.

Conclusion

    This action affects only certain a novel or unusual design feature
on one model of airplane. It is not a rule of general applicability.
    The substance of these special conditions has been subjected to the
notice and comment period in prior instances and has been derived
without substantive change from those previously issued. It is unlikely
that prior public comment would result in a significant change from the
substance contained herein. Therefore, the FAA has determined that
prior public notice and comment are unnecessary and impracticable, and
good cause exists for adopting these special conditions upon
publication in the Federal Register. The FAA is requesting comments to
allow interested persons to submit views that may not have been
submitted in response to the prior opportunities for comment described
above.

List of Subjects in 14 CFR Part 25

    Aircraft, Aviation safety, Reporting and record keeping
requirements.

    The authority citation for these special conditions is as follows:

    Authority: 49 U.S.C. 106(g), 40113, 44701, 44702, 44704.

The Special Conditions

    Accordingly, pursuant to the authority delegated to me by the
Administrator, the following special conditions are issued as part of
the type certification basis for the Learjet Model 45 airplane.

Non-Rechargeable Lithium Battery Installations

    In lieu of Sec.  25.1353(b)(1) through (4) at Amendment 25-123 or
Sec.  25.1353(c)(1) through (4) at earlier amendments, each non-
rechargeable lithium battery installation must:
    1. Be designed to maintain safe cell temperatures and pressures
under all foreseeable operating conditions to prevent fire and
explosion.
    2. Be designed to prevent the occurrence of self-sustaining,
uncontrollable increases in temperature or pressure.
    3. Not emit explosive or toxic gases, either in normal operation or
as a result of its failure, that may accumulate in hazardous quantities
within the airplane.
    4. Meet the requirements of Sec.  25.863.
    5. Not damage surrounding structure or adjacent systems, equipment,
or electrical wiring from corrosive fluids or gases that may escape in
such a way as to cause a major or more severe failure condition.
    6. Have provisions to prevent any hazardous effect on airplane
structure or systems caused by the maximum amount of heat it can
generate due to any failure of it or its individual cells.
    7. Have a failure sensing and warning system to alert the
flightcrew if its failure affects safe operation of the airplane.
    8. Have a means for the flightcrew or maintenance personnel to
determine the

battery charge state if the battery's function is required for safe
operation of the airplane.

    Note: A battery system consists of the battery and any
protective, monitoring, and alerting circuitry or hardware inside or
outside of the battery. It also includes vents (where necessary) and
packaging. For the purpose of these special conditions, a
``battery'' and ``battery system'' are referred to as a battery.

    Issued in Renton, Washington, on December 28, 2017.
Suzanne Masterson,
Acting Manager, Transport Standards Branch, Policy and Innovation
Division, Aircraft Certification Service.
[FR Doc. 2017-28454 Filed 1-3-18; 8:45 am]
 BILLING CODE 4910-13-P


[Federal Register Volume 80, Number 129 (Tuesday, July 7, 2015)]
[Notices]
[Pages 38791-38793]
[FR Doc No: 2015-16555]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-75339; File No. SR-FINRA-2015-021]

Self-Regulatory Organizations; Financial Industry Regulatory
Authority, Inc.; Notice of Filing and Immediate Effectiveness of a
Proposed Rule Change To Adopt Rule 7650A Relating to Debit Process for
the Collection of FINRA/Nasdaq Trade Reporting Facility Fees

June 30, 2015.
    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 June 23, 2015, Financial Industry Regulatory Authority, Inc.
(``FINRA'') filed with the Securities and Exchange Commission (``SEC''
or ``Commission'') the proposed rule change as described in Items I and
II below, which Items have been prepared by FINRA. FINRA has designated
the proposed rule change as constituting a ``non-controversial'' rule
change under paragraph (f)(6) of Rule 19b-4 under the Act,\3\ which
renders the proposal effective upon receipt of this filing by the
Commission. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 17 CFR 240.19b-4(f)(6).
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I. Self-Regulatory Organization's Statement of the Terms of the
Substance of the Proposed Rule Change

    FINRA is proposing to adopt FINRA Rule 7650A (Collection of Fees)
to require FINRA members that are FINRA/Nasdaq Trade Reporting Facility
(``FINRA/Nasdaq TRF'') participants to provide a clearing account
number for an account at the National Securities Clearing Corporation
(``NSCC'') for purposes of permitting the FINRA/Nasdaq TRF to debit
undisputed or final fees due and owing by the member under the Rule
7600A Series.
    The text of the proposed rule change is available on FINRA's Web
site at http://www.finra.org, at the principal office of FINRA 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, FINRA 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. FINRA 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 FINRA/Nasdaq TRF is a facility of FINRA that is operated by The
NASDAQ OMX Group, Inc. (``NASDAQ OMX''). In connection with the
establishment of the FINRA/Nasdaq TRF, FINRA and NASDAQ OMX entered
into a limited liability company agreement (the ``LLC Agreement'').
Under the LLC Agreement, FINRA, the ``SRO Member,'' has sole regulatory
responsibility for the FINRA/Nasdaq TRF. NASDAQ OMX, the ``Business
Member,'' is primarily responsible for the management of the FINRA/
Nasdaq TRF's business affairs to the extent those affairs are not
inconsistent with the regulatory and oversight functions of FINRA. As
such, the Business Member establishes pricing for use of the FINRA/
Nasdaq TRF, and such pricing is implemented pursuant to FINRA rules
that must be filed with the SEC and be consistent with the Act. In
addition, the Business Member is obligated to pay the cost of
regulation and is entitled to the profits and losses, if any, derived
from the operation of the FINRA/Nasdaq TRF.
    Pursuant to the FINRA Rule 7600A Series, FINRA members that are
FINRA/Nasdaq TRF participants are charged fees (Rule 7620A) and also
may qualify for credits for trade reporting to the FINRA/Nasdaq TRF
(Rule 7610A). These rules are administered by NASDAQ OMX, in its
capacity as the ``Business Member'' and operator of the FINRA/Nasdaq
TRF on behalf of FINRA,\4\ and NASDAQ OMX collects all fees on behalf
of the FINRA/Nasdaq TRF. FINRA is proposing to adopt Rule 7650A to
require FINRA members that are FINRA/Nasdaq TRF participants to provide
a clearing account number for an account at NSCC to the FINRA/Nasdaq
TRF for purposes of permitting NASDAQ OMX, on behalf of the FINRA/
Nasdaq TRF, to debit any undisputed or final fees due and owing under
the FINRA Rule 7600A Series relating to the FINRA/Nasdaq TRF.

Specifically, Rules 7610A (Securities Transaction Credit), 7620A
(FINRA/Nasdaq Trade Reporting Facility Reporting Fees) and 7630A
(Aggregation of Activity of Affiliated Members) will be subject to
proposed Rule 7650A.
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    \4\ FINRA's oversight of this function performed by the Business
Member is conducted through a recurring assessment and review of TRF
operations by an outside independent audit firm.
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    The debit process under proposed Rule 7650A would operate in the
same manner as the debit process under Nasdaq Rule 7007 (Collection of
Exchange Fees and Other Claims).\5\ Specifically, NASDAQ OMX would send
a monthly invoice \6\ to each FINRA/Nasdaq TRF participant on
approximately the 3rd through 10th business day of the following
month.\7\ NASDAQ OMX would send a file to NSCC each month on
approximately the 23rd of the following month to initiate the debit of
the appropriate amount stated on the member's invoice for the prior
month.\8\ Because the member would receive an invoice well before any
monies are debited (normally within two weeks), the member would have
adequate time to contact the FINRA/Nasdaq TRF with any questions
concerning its invoice.\9\ If a member disagrees with the invoice, the
debit will not commence until the dispute is resolved. Specifically,
the disputed amount would not be included in the debit if the member
has disputed the amount in writing to the FINRA/Nasdaq TRF by the 15th
of the month, or the following business day if the 15th is not a
business day, and the amount in dispute is at least $10,000 or
greater.\10\ Once NSCC receives the file, NSCC would proceed to debit
the amounts indicated from the clearing member's account.
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    \5\ See Securities Exchange Act Release No. 74823 (April 28,
2015), 80 FR 25353 (May 4, 2015) (Notice of Filing and Immediate
Effectiveness of File No. SR-NASDAQ-2015-046).
    \6\ The monthly invoice will clearly indicate that the amount on
the invoice will be directly debited from the designated NSCC
account.
    \7\ Members may elect to receive invoices either electronically,
by mail or by both methods.
    \8\ Each month, NASDAQ OMX will send a file to the member's
clearing firm which will indicate the amount to be debited from that
member's account. If a member is ``self-clearing,'' no such file
would be sent as the member would receive the invoice, as noted
above, which would indicate the amount to be debited.
    \9\ NASDAQ OMX has represented to FINRA that members generally
would receive invoices well before the tenth business day of the
month, and as such, would have ample time to dispute any fee before
commencement of the debit process.
    \10\ NASDAQ OMX has represented to FINRA that it will attempt to
resolve all disputes prior to debiting of the disputed amount from
the member's account; however, where necessary, NASDAQ OMX would
issue refunds or credits, as appropriate.
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    Where a FINRA/Nasdaq TRF participant clears through a clearing
member, the estimated transaction fees are typically debited by the
clearing member on a daily basis in order to ensure that adequate funds
have been escrowed. NASDAQ OMX would debit any undisputed or final fees
due and owing under the FINRA Rule 7600A Series. Thus, FINRA and NASDAQ
OMX believe that the proposed debit process will significantly reduce
the number of unpaid invoices because of the large amounts of capital
held at NSCC by members.
    FINRA believes that the proposed direct debit process would create
an efficient and uniform method of collecting undisputed or final
amounts due and owing from FINRA/Nasdaq TRF participants under the Rule
7600A Series.\11\ FINRA further believes that the proposed direct debit
process would reduce the cost of administrative processes associated
with invoicing and collecting fees owed by FINRA/Nasdaq TRF
participants and would help reduce the possibility of their accounts
becoming overdue.
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    \11\ Consistent with the debit process proposed under SR-NASDAQ-
2015-046, NASDAQ OMX has represented to FINRA that it will not debit
accounts for fees that are unusually large or for special
circumstances. FINRA notes that the debit process under this
proposed rule change is limited to FINRA Rules 7610A, 7620A and
7630A.
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    FINRA has filed the proposed rule change for immediate
effectiveness and requested waiver of the 30-day operative delay. FINRA
proposes that the proposed rule change will become operative on July 1,
2015. On August 24, 2015, NASDAQ OMX, as the Business Member on behalf
of the FINRA/Nasdaq TRF, will debit July 2015 billing pursuant to the
process described in the proposed rule change.\12\ FINRA will notify
its members of the proposed rule change to provide its members time to
provide the FINRA/Nasdaq TRF with the information necessary for the
direct debit and prepare for the change to the collection process.\13\
NASDAQ OMX has represented that a member's primary NSCC account number
will be used unless the member contacts the FINRA/Nasdaq TRF prior to
July 24, 2015 with an alternate NSCC account number.
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    \12\ The initial debit will include all undisputed outstanding
fees through August 2015.
    \13\ FINRA notes that NASDAQ OMX has already provided notice
relating to the proposed debit process under NASDAQ Rule 7007, and
NASDAQ OMX has represented that FINRA/Nasdaq TRF participants would
have received such notice. See, e.g., Equity Trader Alert #2015-83
(June 3, 2015), available at www.nasdaqtrader.com/TraderNews.aspx?id=ETA2015-83.
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2. Statutory Basis
    FINRA believes that the proposed rule change is consistent with the
provisions of Section 15A(b)(6) of the Act,\14\ which requires, among
other things, that FINRA rules must be designed to prevent fraudulent
and manipulative acts and practices, to promote just and equitable
principles of trade, and, in general, to protect investors and the
public interest. Consistent with SR-NASDAQ-2015-046, the proposed debit
process would provide FINRA/Nasdaq TRF participants with an efficient
process to pay undisputed or final fees due and owing to the FINRA/
Nasdaq TRF. In addition, consistent with SR-NASDAQ-2015-046, the
proposed debit process would ease FINRA/Nasdaq TRF participants'
administrative burden in paying monthly invoices, avoid overdue
balances and provide same day collection from all FINRA/Nasdaq TRF
participants that owe monies to the FINRA/Nasdaq TRF. Finally,
consistent with SR-NASDAQ-2015-046, the proposed debit process is
equitable and not unfairly discriminatory because it would apply to all
FINRA/Nasdaq TRF participants in a uniform manner.
---------------------------------------------------------------------------

    \14\ 15 U.S.C. 78o-3(b)(6).
---------------------------------------------------------------------------

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

    FINRA does not believe that the proposed rule change will result in
any burden on competition that is not necessary or appropriate in
furtherance of the purposes of the Act. As described herein, and
consistent with the LLC agreement, the proposed debit process is
identical to the debit process NASDAQ OMX currently has in place for
collection of fees and other amounts owed by NASDAQ Options Market LLC
(``NOM'') participants under Nasdaq rules and is also identical to the
debit process proposed by Nasdaq for collection of fees and other
amounts owed by Nasdaq equity participants under Nasdaq Stock Market
rules. As the Business Member, NASDAQ OMX has the obligation of
assessing the potential impacts of the proposed debit process in its
own rulemaking. FINRA notes that Nasdaq's debit process was subject to
proposed rule changes filed by Nasdaq with the Commission.\15\
---------------------------------------------------------------------------

    \15\ See, e.g., Securities Exchange Act Release No. 74823 (April
28, 2015), 80 FR 25353 (May 4, 2015) (Notice of Filing and Immediate
Effectiveness of File No. SR-NASDAQ-2015-046).
---------------------------------------------------------------------------

    Consistent with SR-NASDAQ-2015-046, the proposed debit process
would apply uniformly to all members that are FINRA/Nasdaq TRF
participants, as it does today with NOM participants and as proposed
for Nasdaq equity participants. In addition, consistent with SR-NASDAQ-
2015-046, the proposed debit process would provide a cost savings to
the FINRA/Nasdaq TRF, in that it would alleviate administrative

processes related to the collection of amounts owed by members for
reporting to the FINRA/Nasdaq TRF, as it does today with NOM
participants and as proposed for Nasdaq equity participants. Finally,
consistent with SR-NASDAQ-2015-046, the proposed debit process would
prevent FINRA/Nasdaq TRF participant accounts from becoming overdue.

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

    Written comments were neither solicited nor 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) of the Act \16\ and Rule 19b-
4(f)(6) thereunder.\17\
---------------------------------------------------------------------------

    \16\ 15 U.S.C. 78s(b)(3)(A).
    \17\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) normally does
not become operative prior to 30 days after the date of the filing.
However, pursuant to Rule 19b-4(f)(6)(iii),\18\ the Commission may
designate a shorter time if such action is consistent with the
protection of investors and the public interest.
---------------------------------------------------------------------------

    \18\ 17 CFR 240.19b-4(f)(6)(iii).
---------------------------------------------------------------------------

    FINRA has asked the Commission to waive the 30-day operative delay.
The Commission believes that waiving the 30-day operative delay is
consistent with the protection of investors and the public interest.
FINRA will implement the proposed rule change on July 1, 2015, and on
August 24, 2015, NASDAQ OMX, as the Business Member on behalf of the
FINRA/Nasdaq TRF, will debit July 2015 billing pursuant to the process
described in the proposed rule change. FINRA will notify its members of
the proposed rule change to provide its members time to provide the
FINRA/Nasdaq TRF with the information necessary for the direct debit
and prepare for the change to the collection process. NASDAQ OMX has
represented that a member's primary NSCC account number will be used
unless the member contacts the FINRA/Nasdaq TRF prior to July 24, 2015
with an alternate NSCC account number. The proposal presents no novel
issues, and the Commission believes the terms of this implementation
schedule are reasonable. Furthermore, the Commission finds no reason to
delay implementation for 30 days, given the reduction of administrative
burdens and costs inherent in the proposed rule change. Therefore, the
Commission hereby waives the 30-day operative delay and designates the
proposed rule change to be operative upon filing with the
Commission.\19\
---------------------------------------------------------------------------

    \19\ For purposes only of waiving the operative delay for this
proposal, the Commission has considered the proposed rule's impact
on efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule
change, the Commission 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_ADDRESS>Please include
File Number SR-FINRA-2015-021 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-FINRA-2015-021. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549 on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of such filing also will be available
for inspection and copying at the principal offices of FINRA. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-FINRA-2015-021, and should
be submitted on or before July 28, 2015.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\20\
Robert W. Errett,
Deputy Secretary.
---------------------------------------------------------------------------

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

[FR Doc. 2015-16555 Filed 7-6-15; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 80, Number 8 (Tuesday, January 13, 2015)]
[Notices]
[Pages 1680-1681]
[FR Doc No: 2015-00418]

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SECURITIES AND EXCHANGE COMMISSION

Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the
Government in the Sunshine Act, Public Law 94-409, that the Securities
and Exchange Commission will hold an Open Meeting on Wednesday, January
14, 2015 at 10:00 a.m., in the Auditorium, Room L-002.
    The subject matter of the Open Meeting will be:
     The Commission will consider whether to adopt rules under
the

Securities Exchange Act of 1934 (``Exchange Act'') governing the
security-based swap data repository (``SDR'') registration process, the
duties of such repositories, and the core principles applicable to such
repositories.
     The Commission will consider whether to adopt Regulation
SBSR under the Exchange Act to provide for regulatory reporting of
security-based swap information and the public dissemination of
security-based swap transaction, volume, and pricing information by
registered SDRs.
     The Commission will consider whether to propose certain
new rules, rule amendments, and guidance to Regulation SBSR under the
Exchange Act to address, among other things, the reporting duties for
cleared and platform-executed security-based swap transactions.

The duty officer determined that no earlier notice thereof was
possible.
    At times, changes in Commission priorities require alterations in
the scheduling of meeting items.
    For further information and to ascertain what, if any, matters have
been added, deleted, or postponed, please contact:
    The Office of the Secretary at<PHONE_NUMBER>.

    Dated: January 8, 2015.
Brent J. Fields,
Secretary.
[FR Doc. 2015-00418 Filed 1-9-15; 4:15 pm]
BILLING CODE 8011-01-P


[Federal Register Volume 81, Number 251 (Friday, December 30, 2016)]
[Notices]
[Pages 96448-96449]
[FR Doc No: 2016-31658]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings #2

    Take notice that the Commission received the following electric
corporate filings:
    Docket Numbers: EC17-37-000.
    Applicants: Westar Energy, Inc.
    Description: Supplement to November 18, 2016 Application of Westar
Energy, Inc. for Authorization for Consolidation of Jurisdictional
Facilities, et al.
    Filed Date: 12/21/16.
    Accession Number: 20161221-5461.
    Comments Due: 5 p.m. ET 12/28/16.

    Take notice that the Commission received the following electric
rate filings:
    Docket Numbers: ER11-3376-003; ER11-3377-003; ER11-3378-003.
    Applicants: North Hurlburt Wind, LLC, Horseshoe Bend Wind, LLC,
South Hurlburt Wind, LLC.
    Description: Triennial Report for Northwest Region of North
Hurlburt Wind, LLC, et. al.
    Filed Date: 12/22/16.
    Accession Number: 20161222-5571.
    Comments Due: 5 p.m. ET 2/21/17.

    Docket Numbers: ER14-225-004.
    Applicants: New Brunswick Energy Marketing Corporation.
    Description: Triennial Market Power Update for the Northeast Region
of New Brunswick Energy Marketing Corporation.
    Filed Date: 12/22/16.
    Accession Number: 20161222-5577.
    Comments Due: 5 p.m. ET 2/21/17.

    Docket Numbers: ER17-238-001.
    Applicants: Southwestern Public Service Company.
    Description: Tariff Amendment: SAP Ministerial_Amend to be
effective 4/16/2016.
    Filed Date: 12/23/16.
    Accession Number: 20161223-5102.
    Comments Due: 5 p.m. ET 1/13/17.

    Docket Numbers: ER17-267-001.
    Applicants: Southwestern Public Service Company.
    Description: Tariff Amendment: Tri County Formula Rate_Amend to be
effective 1/1/2017.

    Filed Date: 12/23/16.
    Accession Number: 20161223-5103.
    Comments Due: 5 p.m. ET 1/13/17.

    Docket Numbers: ER17-478-001.
    Applicants: Mankato Energy Center, LLC.
    Description: Supplement to December 15, 2016 Mankato Energy Center,
LLC tariff filing.
    Filed Date: 12/22/16.
    Accession Number: 20161222-5572.
    Comments Due: 5 p.m. ET 1/12/17.

    Docket Numbers: ER17-647-000.
    Applicants: Emera Energy Services Subsidiary No. 11.
    Description: Sec.  205(d) Rate Filing: Tariff Amendment to be
effective 2/22/2017.
    Filed Date: 12/23/16.
    Accession Number: 20161223-5141.
    Comments Due: 5 p.m. ET 1/13/17.

    Docket Numbers: ER17-648-000.
    Applicants: Emera Energy Services Subsidiary No. 12.
    Description: Sec.  205(d) Rate Filing: Tariff Amendment to be
effective 2/22/2017.
    Filed Date: 12/23/16.
    Accession Number: 20161223-5142.
    Comments Due: 5 p.m. ET 1/13/17.

    Docket Numbers: ER17-649-000.
    Applicants: Emera Energy Services Subsidiary No. 13.
    Description: Sec.  205(d) Rate Filing: Tariff Amendment to be
effective 2/22/2017.
    Filed Date: 12/23/16.
    Accession Number: 20161223-5143.
    Comments Due: 5 p.m. ET 1/13/17.

    Docket Numbers: ER17-650-000.
    Applicants: Emera Energy Services Subsidiary No. 14.
    Description: Sec.  205(d) Rate Filing: Tariff Amendment to be
effective 2/22/2017.
    Filed Date: 12/23/16.
    Accession Number: 20161223-5144.
    Comments Due: 5 p.m. ET 1/13/17.

    Docket Numbers: ER17-651-000.
    Applicants: Emera Energy Services Subsidiary No. 15.
    Description: Sec.  205(d) Rate Filing: Tariff Amendment to be
effective 2/22/2017.
    Filed Date: 12/23/16.
    Accession Number: 20161223-5145.
    Comments Due: 5 p.m. ET 1/13/17.

    Docket Numbers: ER17-652-000.
    Applicants: Lightstone Marketing LLC.
    Description: Baseline eTariff Filing: Lightstone Marketing LLC MBR
Application to be effective 1/10/2017.
    Filed Date: 12/23/16.
    Accession Number: 20161223-5158.
    Comments Due: 5 p.m. ET 1/13/17.

    Docket Numbers: ER17-653-000.
    Applicants: Arizona Public Service Company.
    Description: Tariff Cancellation: Cancellation of Rate Schedule No.
272 to be effective 2/22/2017.
    Filed Date: 12/23/16.
    Accession Number: 20161223-5166.
    Comments Due: 5 p.m. ET 1/13/17.

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

    Dated: December 23, 2016.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2016-31658 Filed 12-29-16; 8:45 am]
 BILLING CODE 6717-01-P


[Federal Register Volume 87, Number 85 (Tuesday, May 3, 2022)]
[Notices]
[Pages 26248-26251]
[FR Doc No: 2022-09406]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-94800; File No. SR-CBOE-2022-021]

Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To Renew
an Existing Pilot Program

April 27, 2022.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on April 20, 2022, Cboe Exchange, Inc. (``Exchange'' or ``Cboe
Options'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I and II
below, which Items have been prepared by the Exchange. The Exchange
filed the proposal as a ``non-controversial'' proposed rule change
pursuant to Section 19(b)(3)(A)(iii) of the Act \3\ and Rule 19b-
4(f)(6) thereunder.\4\ 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.
    \3\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \4\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

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

    Cboe Exchange, Inc. (the ``Exchange'' or ``Cboe Options'') proposes
to renew an existing pilot program until November 7, 2022. The text of
the proposed rule change is provided below.

(additions are italicized; deletions are [bracketed])
* * * * *
Rules of Cboe Exchange, Inc.
* * * * *
Rule 4.13. Series of Index Options

    (a)-(d) No change.
    (e) Nonstandard Expirations Pilot Program.
    (1)-(2) No change.
    (3) Duration of Nonstandard Expirations Pilot Program. The
Nonstandard Expirations Pilot Program shall be through [May 2]November
7, 2022.
* * * * *
    The text of the proposed rule change is also available on the
Exchange's website (http://www.cboe.com/AboutCBOE/CBOELegalRegulatoryHome.aspx), at the Exchange's Office of the
Secretary, 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
    On September 14, 2010, the Securities and Exchange Commission (the
``Commission'') approved a Cboe Options proposal to establish a pilot
program under which the Exchange is permitted to list P.M.-settled
options on broad-based indexes to expire on (a) any Friday of the
month, other than the third Friday-of-the-month, and (b) the last
trading day of the month.\5\ On January 14, 2016, the Commission
approved a Cboe Options proposal to expand the pilot program to allow
P.M.-settled options on broad-based indexes to expire on any Wednesday
of month, other than those that coincide with an EOM.\6\ On August 10,
2016, the Commission approved a Cboe Options proposal to expand the
pilot program to allow P.M.-settled options on broad-based indexes to
expire on any Monday of month, other than those that coincide with an
EOM.\7\ On April 12, 2022, the Commission approved a Cboe Options
proposal to expand the pilot program to allow P.M.-settled SPX options
to also expire on Tuesday or Thursday.\8\ Under the terms of the
Nonstandard Expirations Pilot Program (``Program''), Weekly Expirations
and EOMs are permitted on any broad-based index that is eligible for
regular options trading. Weekly Expirations and EOMs are cash-settled
and have European-style exercise. The proposal became effective on a
pilot basis for a period of fourteen months that commenced on the next
full month after approval was received to establish the Program \9\ and
was subsequently extended.\10\ Pursuant to Rule 4.13(e)(3), the Program
is scheduled to expire on May 2, 2022. The Exchange believes that the
Program has been successful and well received by its Trading Permit
Holders and the investing public during that the time that it has been
in operation. The Exchange hereby proposes to extend the Program until
November 7, 2022. This proposal does not request any other changes to
the Program.
---------------------------------------------------------------------------

    \5\ See Securities Exchange Act Release 62911 (September 14,
2010), 75 FR 57539 (September 21, 2010) (order approving SR-CBOE-
2009-075).
    \6\ See Securities Exchange Act Release 76909 (January 14,
2016), 81 FR 3512 (January 21, 2016) (order approving SR-CBOE-2015-
106).
    \7\ See Securities Exchange Act Release 78531 (August 10, 2016),
81 FR 54643 (August 16, 2016) (order approving SR-CBOE-2016-046).
    \8\ See Securities Exchange Act Release 94682 (April 12, 2022)
(order approving SR-CBOE- 2022-005).
    \9\ See supra note 7.
    \10\ See Securities Exchange Act Release 65741 (November 14,
2011), 76 FR 72016 (November 21, 2011) (immediately effective rule
change extending the Program through February 14, 2013). See also
Securities Exchange Act Release 68933 (February 14, 2013), 78 FR
12374 (February 22, 2013) (immediately effective rule change
extending the Program through April 14, 2014); 71836 (April 1,
2014), 79 FR 19139 (April 7, 2014) (immediately effective rule
change extending the Program through November 3, 2014); 73422
(October 24, 2014), 79 FR 64640 (October 30, 2014) (immediately
effective rule change extending the Program through May 3, 2016);
76909 (January 14, 2016), 81 FR 3512 (January 21, 2016) (extending
the Program through May 3, 2017); 80387 (April 6, 2017), 82 FR 17706
(April 12, 2017) (extending the Program through May 3, 2018); 83165
(May 3, 2018), 83 FR 21316 (May 9, 2018) (SR-CBOE-2018-038)
(extending the Program through November 5, 2018); 84534 (November 5,
2019), 83 FR 56119 (November 9, 2018) (SR-CBOE-2018-070) (extending
the Program through May 6, 2019); 85650 (April 15, 2019), 84 FR
16552 (April 19, 2019) (SR-CBOE-2019-022) (extending the Program
through November 4, 2019); 87462 (November 5, 2019), 84 FR 61108
(November 12, 2019) (SR-CBOE-2019-104) (extending the Program
through May 4, 2020); 88673 (April 16, 2020), 85 FR 22507 (April 22,
2020) (SR-CBOE-2020-035) (extending the Program through November 2,
2020); 90262 (October 23, 2020) 85 FR 68616 (October 29, 2020) (SR-
CBOE-2020-101); 91697 (April 28, 2021), 86 FR 23775 (May 4, 2021)
(SR-CBOE-2021-026) (extending the Program through November 1, 2021);
and 93459 (October 28, 2021), 86 FR 60663 (November 3, 2021) (SR-
CBOE-2021-063) (extending the Program through May 2, 2022).
---------------------------------------------------------------------------

    Pursuant to the order approving the establishment of the Program,
two months prior to the conclusion of the pilot period, Cboe Options is
required to submit an annual report to the Commission, which addresses
the following areas: Analysis of Volume & Open Interest; Monthly
Analysis of Weekly Expirations & EOM Trading Patterns; Provisional
Analysis of Index Price Volatility; and, for SPX options specifically,
certain market quality data.\11\ The Exchange has submitted, under
separate cover, the annual report in connection with the present
proposed rule change. Additionally, the Exchange will provide the
Commission with any additional data or analyses the Commission requests
because it deems such data or analyses necessary to determine whether
the Program is consistent with the Exchange Act. The Exchange is in the
process of making public on its website all data and analyses
previously submitted to the Commission under the Program,\12\ and will
make public any data and analyses it makes to the Commission under the
Program in the future.
---------------------------------------------------------------------------

    \11\ The SPX options market quality data includes time-weighted
relative quoted spreads, relative effective spreads and time-
weighted bid and offer sizes, over sample periods determined by the
Exchange and the Commission.
    \12\ Available at https://www.cboe.com/aboutcboe/legal-regulatory/national-market-system-plans/non-standard-expiration-data.
---------------------------------------------------------------------------

    If, in the future, the Exchange proposes an additional extension of
the Program, or should the Exchange propose to make the Program
permanent (which the Exchange currently intends to do), the Exchange
will submit an annual report (addressing the same areas referenced
above and consistent with the order approving the establishment of the
Program) to the Commission at least two months prior to the next bi-
annual expiration date of the Program.\13\ The Exchange will also make
this report public. Any positions established under the Program will
not be impacted by the expiration of the Program.
---------------------------------------------------------------------------

    \13\ The Exchange notes that from the Program's implementation
in 2010 through 2014, the Program ran on a 14-month basis, and, in
2014, the Program was extended to run on a bi-annual pilot basis.
See Securities Exchange Act Release No. 71836 (April 1, 2014), 79 FR
19139 (April 7, 2014) (SR-CBOE-2014-027). The Program continues to
run on a bi-annual basis today.
---------------------------------------------------------------------------

    The Exchange believes there is sufficient investor interest and
demand in the Program to warrant its extension. The Exchange believes
that the Program has provided investors with additional means of
managing their risk exposures and carrying out their investment
objectives. Furthermore, the Exchange has not experienced any adverse
market effects with respect to the Program.
    The Exchange believes that the proposed extension of the Program
will not have an adverse impact on capacity.
2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with
the Securities Exchange Act of 1934 (the ``Act'') and the rules and
regulations thereunder applicable to the Exchange and, in particular,
the requirements of Section 6(b) of the Act.\14\ Specifically, the
Exchange believes the proposed rule change is consistent with the
Section 6(b)(5) \15\ requirements that the rules of an exchange be
designed to prevent fraudulent and manipulative acts and

practices, to promote just and equitable principles of trade, to foster
cooperation and coordination with persons engaged in regulating,
clearing, settling, processing information with respect to, and
facilitation transactions in securities, to remove impediments to and
perfect the mechanism of a free and open market and a national market
system, and, in general, to protect investors and the public interest.
Additionally, the Exchange believes the proposed rule change is
consistent with the Section 6(b)(5) \16\ requirement that the rules of
an exchange not be designed to permit unfair discrimination between
customers, issuers, brokers, or dealers.
---------------------------------------------------------------------------

    \14\ 15 U.S.C. 78f(b).
    \15\ 15 U.S.C. 78f(b)(5).
    \16\ Id.
---------------------------------------------------------------------------

    In particular, the Exchange believes that the Program has been
successful to date and states that it has not encountered any problems
with the Program. The proposed rule change allows for an extension of
the Program for the benefit of market participants. Additionally, the
Exchange believes that there is demand for the expirations offered
under the Program and believes that that Weekly Expirations and EOMs
will continue to provide the investing public and other market
participants increased opportunities to better manage their risk
exposure.

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

    Cboe Options does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. Specifically, the Exchange
believes that, by extending the expiration of the Program, the proposed
rule change will allow for further analysis of the Program and a
determination of how the Program shall be structured in the future. In
doing so, the proposed rule change will also serve to promote
regulatory clarity and consistency, thereby reducing burdens on the
marketplace and facilitating investor protection.

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

    The Exchange neither solicited nor received comments on the
proposed rule change.

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

    Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A) of the Act \17\ and Rule 19b-
4(f)(6) thereunder.\18\
---------------------------------------------------------------------------

    \17\ 15 U.S.C. 78s(b)(3)(A).
    \18\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change, along
with a brief description and text of the proposed rule change, at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
The Exchange has satisfied this requirement.
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) \19\ normally
does not become operative prior to 30 days after the date of the
filing. However, Rule 19b-4(f)(6)(iii) \20\ 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 proposal
may become operative immediately upon filing. The Exchange states that
waiver of the 30-day operative delay will allow it to extend the
Program prior to its expiration on May 2, 2022, and maintain the status
quo, thereby reducing market disruption. The Commission believes that
waiving the 30-day operative delay is consistent with the protection of
investors and the public interest as it will allow the Program to
continue uninterrupted, thereby avoiding investor confusion that could
result from a temporary interruption in the Program. Accordingly, the
Commission hereby waives the 30-day operative delay and designates the
proposed rule change as operative upon filing.\21\
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    \19\ 17 CFR 240.19b-4(f)(6).
    \20\ 17 CFR 240.19b-4(f)(6)(iii).
    \21\ 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).
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    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings to
determine whether the proposed rule change 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-CBOE-2022-021 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-CBOE-2022-021. 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-CBOE-2022-021 and should be submitted on
or before May 24, 2022.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\22\
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    \22\ 17 CFR 200.30-3(a)(12).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-09406 Filed 5-2-22; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 77, Number 88 (Monday, May 7, 2012)]
[Notices]
[Page 26755]
[FR Doc No: 2012-10939]

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ENVIRONMENTAL PROTECTION AGENCY

[FRL-9669-6]

Underground Injection Control Program; Hazardous Waste Injection
Restrictions; Petition for Exemption--Class I Hazardous Waste
Injection; Diamond Shamrock Refining Company, LP, Sunray, TX

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice of a final decision on a no migration petition
reissuance.

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SUMMARY: Notice is hereby given that a reissuance of an exemption to
the land disposal Restrictions, under the 1984 Hazardous and Solid
Waste Amendments to the Resource Conservation and Recovery Act, has
been granted to Diamond Shamrock for three Class I injection wells
located at Sunray, Texas. The company has adequately demonstrated to
the satisfaction of the Environmental Protection Agency by the petition
reissuance application and supporting documentation that, to a
reasonable degree of certainty, there will be no migration of hazardous
constituents from the injection zone for as long as the waste remains
hazardous. This final decision allows the continued underground
injection by Diamond Shamrock, of the specific restricted hazardous
wastes identified in this exemption, into Class I hazardous waste
injection wells WDW-102, WDW-192, and WDW-332 at the Sunray, Texas
facility until December 31, 2025, unless EPA moves to terminate this
exemption. Additional conditions included in this final decision may be
reviewed by contacting the Region 6 Ground Water/UIC Section. A public
notice was issued February 27, 2012. The public comment period closed
on April 12, 2012. No comments were received. This decision constitutes
final Agency action and there is no Administrative appeal. This
decision may be reviewed/appealed in compliance with the Administrative
Procedure Act.

DATES: This action was effective as of April 18, 2012.

ADDRESSES: Copies of the petition and all pertinent information
relating thereto are on file at the following location: Environmental
Protection Agency, Region 6, Water Quality Protection Division, Source
Water Protection Branch (6WQ-S), 1445 Ross Avenue, Dallas, Texas 75202-
2733.

FOR FURTHER INFORMATION CONTACT: Philip Dellinger, Chief Ground Water/
UIC Section, EPA--Region 6, telephone<PHONE_NUMBER>.

    Dated: April 26, 2012.
William K. Honker,
Acting Director, Water Quality Protection Division.
[FR Doc. 2012-10939 Filed 5-4-12; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register Volume 87, Number 64 (Monday, April 4, 2022)]
[Notices]
[Page 19569]
[FR Doc No: 2022-06979]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-94536; File No. SR-NSCC-2021-803]

Self-Regulatory Organizations; National Securities Clearing
Corporation; Notice of Withdrawal of an Advance Notice To Establish the
Securities Financing Transaction Clearing Service and Make Other
Changes

March 29, 2022.
    On July 22, 2021, National Securities Clearing Corporation
(``NSCC'') filed with the Securities and Exchange Commission
(``Commission'') advance notice SR-NSCC-2021-803 (``Advance Notice''),
pursuant to Section 806(e)(1) of Title VIII of the Dodd-Frank Wall
Street Reform and Consumer Protection Act entitled the Payment,
Clearing, and Settlement Supervision Act of 2010 (``Clearing
Supervision Act'') \1\ and Rule 19b-4(n)(1)(i) under the Securities
Exchange Act of 1934 (``Exchange Act'').\2\ The Advance Notice was
published for comment in the Federal Register on August 12, 2021.\3\
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    \1\ 12 U.S.C. 5465(e)(1).
    \2\ 17 CFR 240.19b-4(n)(1)(i).
    \3\ Securities Exchange Act Release No. 92568 (August 5, 2021),
86 FR 44530 (August 12, 2021) (SR-NSCC-2021-803).
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    On August 30, 2021, the Commission requested additional information
for consideration of the Advance Notice from NSCC, pursuant to Section
806(e)(1)(D) of the Clearing Supervision Act,\4\ which tolled the
Commission's period of review of the Advance Notices until 60 days from
the date the information required by the Commission was received by the
Commission.\5\ On December 13, 2021, the Commission received NSCC's
response to the Commission's request for additional information.\6\
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    \4\ 12 U.S.C. 5465(e)(1)(D).
    \5\ See 12 U.S.C. 5465(e)(1)(E)(ii) and (G)(ii); see Memorandum
from the Office of Clearance and Settlement Supervision, Division of
Trading and Markets, titled ``Commission's Request for Additional
Information,'' available at https://www.sec.gov/rules/sro/nscc-an/2021/34-92568-memo-nscc.pdf.
    \6\ See 12 U.S.C. 5465(e)(1)(E)(ii) and (G)(ii); see Memorandum
from the Office of Clearance and Settlement Supervision, Division of
Trading and Markets, titled ``Response to the Commission's Request
for Additional Information,'' available at https://www.sec.gov/rules/sro/nscc-an/2021/34-92568-memo-response-nscc.pdf.
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    On February 7, 2022, under Section 806(e)(1)(H) of the Clearing
Supervision Act,\7\ the Commission extended the review period of the
Advance Notice for additional 60 days to issue an objection or non-
objection to the Advance Notice.\8\
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    \7\ 12 U.S.C. 5465(e)(1)(H).
    \8\ Securities Exchange Act Release No. 94168 (February 7,
2022), 87 FR 8062 (February 11, 2022) (SR-NSCC-2021-803).
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    On February 28, 2022, the Commission requested additional
information for consideration of the Advance Notice from NSCC, pursuant
to Section 806(e)(1)(D) of the Clearing Supervision Act,\9\ which
tolled the Commission's period of review of the Advance Notices until
60 days from the date the information required by the Commission was
received by the Commission.\10\
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    \9\ 12 U.S.C. 5465(e)(1)(D).
    \10\ See 12 U.S.C. 5465(e)(1)(E)(ii) and (G)(ii); see Memorandum
from the Office of Clearance and Settlement Supervision, Division of
Trading and Markets, titled ``Commission's Second Request for
Additional Information,'' available at https://www.sec.gov/rules/sro/nscc-an/2022/34-94203-memo-nscc.pdf.
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    On March 25, 2022, NSCC filed a withdrawal of the Advance Notice
(SR-NSCC-2021-803) from consideration by the Commission. The Commission
is hereby publishing notice of the withdrawal.
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    \11\ 17 CFR 200.30-3(a)(92).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-06979 Filed 4-1-22; 8:45 am]
BILLING CODE 8011-01-P