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

    \67\ 88 FR 25251 (Apr. 21, 2023). Executive Order 14096
supplemented the efforts of Executive Order 12898.
---------------------------------------------------------------------------

(6) Finding of No Significant Impact
    The adoption of the Selected Action Alternative's suspension will
prohibit the transportation of LNG in rail tank cars while PHMSA and
FRA undertake a comprehensive analysis of safety and environmental
issues associated with the transportation of LNG by rail. As such, the
HMR amendments in this final rule will have no significant impact on
the human environment. The Selected Action Alternative will allow PHMSA
to review new information to evaluate the potential impact on safety,
environmental justice, and GHG emissions. Further, based on PHMSA's
analysis of these provisions described above and insofar as there has
been no significant progress toward the movement of LNG by rail tank
car, PHMSA finds that codification and implementation of this rule will
not result in a significant impact to the human environment.

I. Privacy Act

    In accordance with 5 U.S.C. 553(c), DOT solicits comments from the
public to better inform its rulemaking process. DOT posts these
comments, without edit, including any personal information the
commenter provides, to http://www.regulations.gov, as described in the
system of records notice (DOT/ALL-14 FDMS), which can be reviewed on
DOT's website at http://www.dot.gov/privacy or DOT's complete Privacy
Act Statement in the Federal Register published on April 11, 2000.\68\
---------------------------------------------------------------------------

    \68\ 65 FR 19475 (Apr. 11, 2000).
---------------------------------------------------------------------------

J. Executive Order 13609 and International Trade Analysis

    Executive Order 13609 (``Promoting International Regulatory
Cooperation'') \69\ requires that agencies must consider whether the
impacts associated with significant variations between domestic and
international regulatory approaches are unnecessary or may impair the
ability of American business to export and compete internationally. In
meeting shared challenges involving health, safety, labor, security,
environmental, and other issues, international regulatory cooperation
can identify approaches that are at least as protective as those

that are or would be adopted in the absence of such cooperation.
International regulatory cooperation can also reduce, eliminate, or
prevent unnecessary differences in regulatory requirements.
---------------------------------------------------------------------------

    \69\ 77 FR 26413 (May 4, 2012).
---------------------------------------------------------------------------

    Similarly, the Trade Agreements Act of 1979 (Pub. L. 96-39), as
amended by the Uruguay Round Agreements Act (Pub. L. 103-465),
prohibits Federal agencies from establishing any standards or engaging
in related activities that create unnecessary obstacles to the foreign
commerce of the United States. Pursuant to the Trade Agreements Act,
the establishment of standards is not considered an unnecessary
obstacle to the foreign commerce of the United States, so long as the
standards have a legitimate domestic objective, such as providing for
safety, and do not operate to exclude imports that meet this objective.
The statute also requires consideration of international standards and,
where appropriate, that they be the basis for U.S. standards.
    PHMSA participates in the establishment of international standards
in order to protect the safety of the American public. PHMSA has
assessed the effects of this rulemaking to ensure that it does not
cause unnecessary obstacles to foreign trade. While the suspension the
transport of LNG by rail tank car has potential to impact the United
States' export of bulk LNG internationally, there has been no
significant reliance interest or progress toward the near-term movement
of LNG by rail tank cars. As such, PHMSA expects the amendments herein
to pose a minimal impact to international trade if adopted. Therefore,
PHMSA is amending the HMR to suspend authorization of LNG
transportation in a rail tank car pending further analysis to ensure
potential future regulatory actions to allow bulk transport of LNG by
rail promote public health and safety, the environment, and climate
change mitigation. Accordingly, this rulemaking is consistent with
Executive Order 13609 and PHMSA's obligations under the Trade Agreement
Act, as amended.

K. Executive Order 13211

    Executive Order 13211 (``Actions Concerning Regulations That
Significantly Affect Energy Supply, Distribution, or Use'') \70\
requires Federal agencies to prepare a Statement of Energy Effects for
any ``significant energy action.'' Executive Order 13211 defines a
``significant energy action'' as any action by an agency (normally
published in the Federal Register) that promulgates, or is expected to
lead to the promulgation of, a final rule or regulation that (1)(i) is
a significant regulatory action under Executive Order 12866 or any
successor order and (ii) is likely to have a significant adverse effect
on the supply, distribution, or use of energy (including a shortfall in
supply, price increases, and increased use of foreign supplies); or (2)
is designated by the Administrator of the Office of Information and
Regulatory Affairs (OIRA) as a significant action.
---------------------------------------------------------------------------

    \70\ 66 FR 28355 (May 22, 2001).
---------------------------------------------------------------------------

    Although this rule is a significant action under Executive Order
12866, PHMSA expects it to have an annual effect on the economy of less
than $200 million. Further, this action is not likely to have a
significant adverse effect on the supply, distribution, or use of
energy in the United States. While the amendment to suspend the
transport of LNG by rail tank car has potential to impact the supply,
distribution, or use of energy in the United States, PHMSA does not
anticipate any near-term movement of LNG by rail tank cars. For
additional discussion of the anticipated economic impact of this
rulemaking, please see section IV.B above.

L. Cybersecurity and Executive Order 14028

    Executive Order 14028 (``Improving the Nation's Cybersecurity'')
\71\ directed the Federal government to improve its efforts to
identify, deter, and respond to ``persistent and increasingly
sophisticated malicious cyber campaigns.'' Consistent with Executive
Order 14028, the Transportation Security Administration (TSA) in
October 2022 issued a Security Directive to reduce the risk that
cybersecurity threats pose to critical railroad operations and
facilities through implementation of layered cybersecurity measures
that provide defense-in-depth.\72\ PHMSA has considered the effects of
the final rule and determined that its regulatory amendments will not
materially affect the cybersecurity risk profile for rail
transportation of hazardous materials.
---------------------------------------------------------------------------

    \71\ 86 FR 26633 (May 17, 2021).
    \72\ TSA, Security Directive No. 1580/82-2022-01, ``Rail
Cybersecurity Mitigation Actions and Testing'' (Oct. 24, 2022).
---------------------------------------------------------------------------

List of Subjects in 49 CFR Part 172

    Education, Hazardous materials transportation, Hazardous waste,
Labeling, Markings, Packaging and containers, Reporting and
recordkeeping requirements.

    In consideration of the foregoing, PHMSA is amending 49 CFR chapter
I as follows:

PART 172--HAZARDOUS MATERIALS TABLE, SPECIAL PROVISIONS, HAZARDOUS
MATERIALS COMMUNICATIONS, EMERGENCY RESPONSE INFORMATION, TRAINING
REQUIREMENTS, AND SECURITY PLANS

0
1. The authority citation for part 172 continues to read as follows:

    Authority:  49 U.S.C. 5101-5128, 44701; 49 CFR 1.81, 1.96 and
1.97.

0
2. In Sec.  172.101, amend the Sec.  172.101 Hazardous Materials Table,
by revising the entry for ``Methane, refrigerated liquid (cryogenic
liquid) or Natural gas, refrigerated liquid (cryogenic liquid), with
high methane content)'' to read as follows:

Sec.  172.101   Purpose and use of the hazardous materials table.

* * * * *

                                                                                Sec.   172.101 Hazardous Materials Table
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                (8)                                          (9)                          (10)
                                                                                -----------------------------------------------------------------------------------------------------------------
                                  Hazardous materials   Hazard                                                                       Packaging (Sec.   173.***)                 Quantity limitations (see Sec.        Vessel stowage
             Symbols                descriptions and   class or  Identification    PG      Label    Special provisions ------------------------------------------------------      Sec.   173.27 and 175.75)     -----------------------
                                    proper shipping    division       Nos.                 codes     (Sec.   172.102)                                                        ------------------------------------
                                         names                                                                             Exceptions         Non-bulk            Bulk            Passenger      Cargo aircraft    Location     Other
                                                                                aircraft/rail         only
(1)                               (2)................       (3)             (4)    (5)  (6).......  (7)...............  (8A)............  (8B)............  (8C)............  (9A)............  (9B)............      (10A)        (10B)
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

                                                                                * * * * * * *
                                  Methane,                  2.1          UN1972  .....  2.1.......  T75, TP5, 439, 440  None............  None............  318, 319........  Forbidden.......  Forbidden.......          D           40
                                   refrigerated
                                   liquid (cryogenic
                                   liquid) or Natural
                                   gas, refrigerated
                                   liquid (cryogenic
                                   liquid, with high
                                   methane content).

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

* * * * *

0
3. In Sec.  172.102, amend paragraph (c)(1) by adding special provision
439 in numerical order to read as follows:

Sec.  172.102   Special provisions.

* * * * *
    (c) * * *
    (1) * * *
    439 UN1972 is not authorized for transportation by rail tank car
until either issuance of a final rule concluding the rulemaking action
proceeding under RIN 2137-AF54, or June 30, 2025, whichever occurs
first. For information and the status of RIN 2137-AF54, please refer to
the Office of Management and Budget's Office of Information and
Regulatory Affairs at www.reginfo.gov.
* * * * *

    Issued in Washington, DC, on August 23, 2023, under authority
delegated in 49 CFR 1.97.
Tristan H. Brown,
Deputy Administrator, Pipeline and Hazardous Materials Safety
Administration.
[FR Doc. 2023-18569 Filed 8-31-23; 8:45 am]
BILLING CODE 4910-60-P


[Federal Register Volume 81, Number 126 (Thursday, June 30, 2016)]
[Notices]
[Pages 42781-42783]
[FR Doc No: 2016-15456]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-78152; File No. SR-NYSEArca-2016-90]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change to Temporarily
Widen Price Collar Thresholds for the Core Open Auction and Trading
Halt Auctions

June 24, 2016.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act''),\2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that on June 24, 2016, NYSE Arca, Inc. (the ``Exchange'' or
``NYSE Arca'') 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 self-regulatory
organization. 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\ 15 U.S.C. 78a.
    \3\ 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 temporarily widen price collar thresholds
for the Core Open Auction and Trading Halt Auctions, which would be
operative on June 24, 2016 only. The proposed rule change is available
on the Exchange's Web site at www.nyse.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 self-regulatory organization
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 those 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 parts of such statements.

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

1. Purpose
    The Exchange proposes to temporarily widen price collar thresholds
for the Core Open Auction and Trading Halt Auctions, which would be
operative for June 24, 2016 only.
    On June 23, 2016, the United Kingdom (``UK'') held a referendum
vote to decide whether the UK should leave or remain in the European
Union. The results of this vote were not made public until after the
U.S. markets closed on June 23, 2016. Based on this referendum, the UK
has voted to leave the European Union. As expected, this vote has
resulted in an extraordinary level of global market activity on June
24, 2016, as the markets assess what the impact of the UK leaving the
European Union will mean. This spike in market volatility has also
impacted the U.S. equities markets, including pricing of Exchange
Traded Products (``ETP''), the majority of which are listed on the
Exchange.
    Because of the extraordinary level of market volatility following
the UK referendum vote, including in the U.S. ETP market, the Exchange
believes that widening the Auction Collars for the Core Open Auction
and Trading Halt Auctions for June 24, 2016 only would assist the
Exchange in conducting fair and orderly auctions.
    As set forth in Rule 7.35P(a)(10), the price collar thresholds for
the Core Open Auction and Trading Halt Auctions are currently set at
10% for securities with an Auction Reference Price of $25.00 or less,
5% for securities with an Auction Reference Price greater than $25.00
but less than or equal to $50.00, and 3% for securities with an Auction
Reference Price greater than $50.00.\4\
---------------------------------------------------------------------------

    \4\ The Auction Reference Price for the Core Open Auction is the
midpoint of the Auction NBBO or, if the Auction NBBO is locked, the
locked price. If there is no Auction NBBO, the prior trading day's
Official Closing Price. The Auction Reference Price for the Trading
Halt Auction is the last consolidated round-lot price of that
trading day, and if none, the prior trading day's Official Closing
Price. See NYSE Arca Equities Rule 7.35P(a)(8).
---------------------------------------------------------------------------

    The Exchange proposes to apply Auction Collars of 10% for all
Auction-Eligible Securities,\5\ regardless of the Auction Reference
Price. The Exchange believes that for securities priced greater than
$25.00, the proposed wider price collar threshold will allow for
additional price movements that is expected because of the
extraordinary volatility in the market, while continuing to prevent
auctions from occurring at prices significantly away from the
applicable Auction Reference Price. The proposed 10% price collar
threshold for the Core Open Auction is the same as currently used by
the Nasdaq Stock Market LLC (``Nasdaq'') for its opening crosses.\6\
---------------------------------------------------------------------------

    \5\ For the Core Open Auction, Auction-Eligible Securities are
all securities for which the Exchange is the primary listing market
and UTP Securities designated by the Exchange. For the Trading Halt
Auction, Auction-Eligible Securities are securities for which the
Exchange is the primary listing market. See NYSE Arca Equities Rule
7.35P(a)(1)(A) and (B).
    \6\ See Nasdaq Rule 4752(d)(2)(E) and http://www.nasdaqtrader.com/content/productsservices/trading/crosses/openclose_faqs.pdf.
---------------------------------------------------------------------------

2. Statutory Basis
    The proposed rule change is consistent with Section 6(b) of the
Act,\7\ in general, and furthers the objectives of Section 6(b)(5) of
the Act,\8\ in particular, in that it is designed to prevent fraudulent
and manipulative acts and practices, to promote just and equitable
principles of trade, to foster cooperation and coordination with
persons engaged in facilitating transactions in securities, and 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.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78f(b).
    \8\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    In particular, the Exchange believes that the impact of the UK vote
to leave the European Union has resulted in extraordinary global market
volatility, not seen in scale since August 24, 2015, and the U.S. ETP
market is not immune. In response to this extraordinary market
volatility, the Exchange believes that it would promote the protection
of investors and the public interest to temporarily widen the price
collar thresholds for the Core Open Auction and Trading Halt Auctions
on June 24, 2016 only because it would promote fair and orderly
auctions. The Exchange further believes that widening the price collar
thresholds would remove impediments to and perfect the mechanism of a
national market system because it is designed to allow for greater
price movement, while at the same time preventing auction trades from
occurring at prices significantly away from the applicable Auction
Reference Price. Accordingly, investors would be protected from
executions significantly away from the last sale in a security or other
applicable reference price, but natural price fluctuations resulting
from the market volatility would be permitted. In addition, the
Exchange believes that widening the Auction Collars could reduce the
possibility of securities triggering multiple trading pauses under the
Regulation NMS Plan to Address Market Volatility.

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

    The Exchange does not believe that the proposed rule change would
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. The proposed rule change is
not designed to address any competitive issues but rather is designed
to ensure a fair and orderly market by temporarily widening the price
collar thresholds for the Core Open Auction and Trading Halt Auctions
on a trading day with extraordinary market volatility due to the UK
vote to leave the European Union, In addition, the proposed rule change
is intended to be in effect for June 24, 2016 only to respond to unique
events relating to UK referendum and therefore will not create a burden
on competition.

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

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

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

    Because the 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 \9\ and Rule 19b-4(f)(6) thereunder.\10\
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78s(b)(3)(A).
    \10\ 17 CFR 240.19b-4(f)(6). The Exchange has requested that the
Commission waive the requirement that the Exchange provide the
Commission written notice of its intent to file the proposed rule
change, along with a brief description and the text of the proposed
rule change, at least five business days prior to the date on which
the Exchange filed the proposed rule change pursuant to Rule 19b-
4(f)(6)(iii). The Commission hereby grants this request.
---------------------------------------------------------------------------

    A proposed rule change filed pursuant to Rule 19b-4(f)(6) under the
Act \11\ normally does not become operative for 30 days after the date
of its filing. However, Rule 19b-4(f)(6)(iii) \12\ 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
stated that waiver of the operative delay would allow the Exchange to
immediately implement the proposed rule change, thereby promoting the
operation of a fair and orderly market on a day with extraordinary
market volatility due to the UK referendum to leave the European Union.
The Commission believes the waiver of the operative delay is consistent
with the protection of investors and the public interest. Therefore,
the Commission hereby waives the operative delay and designates the
proposal operative upon filing.\13\
---------------------------------------------------------------------------

    \11\ 17 CFR 240.19b-4(f)(6).
    \12\ 17 CFR 240.19b-4(f)(6)(iii).
    \13\ 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 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_ADDRESS>Please include
File Number SR-NYSEArca-2016-90 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NYSEArca-2016-90. 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 office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-NYSEArca-2016-90, and should
be submitted on or before July 21, 2016.

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

    \14\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Brent J. Fields,
Secretary.
[FR Doc. 2016-15456 Filed 6-29-16; 8:45 am]
BILLING CODE 8011-01-P