[Federal Register Volume 79, Number 177 (Friday, September 12, 2014)]
[Rules and Regulations]
[Pages 54571-54572]
[FR Doc No: 2014-21787]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 25

[Docket No. FAA-2014-0420; Special Conditions No. 25-565-SC]

Special Conditions: Bombardier Aerospace, Models BD-500-1A10 and
BD-500-1A11 Series Airplanes; Automatic Speed Protection for Design
Dive Speed

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final special conditions.

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SUMMARY: These special conditions are issued for the Bombardier
Aerospace Models BD-500-1A10 and BD-500-1A11 series airplanes. These
airplanes will have a novel or unusual design feature associated with a
reduced margin between design cruising speed, VC/
MC, and design diving speed, VD/MD,
based on the incorporation of a high-speed protection system that
limits nose down pilot authority at speeds above VD/
MD. 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: Effective Date: October 14, 2014.

FOR FURTHER INFORMATION CONTACT: Mark Freisthler, FAA, Airframe and
Cabin Safety Branch, ANM-115, Transport Airplane Directorate, Aircraft
Certification Service, 1601 Lind Avenue SW., Renton, Washington 98057-
3356; telephone<PHONE_NUMBER>; facsimile<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Background

    On December 10, 2009, Bombardier Aerospace applied for a type
certificate for their new Models BD-500-1A10 and BD-500-1A11 series
airplanes (hereafter collectively referred to as ``CSeries''). The
CSeries airplanes are swept-wing monoplanes with an aluminum alloy
fuselage sized for 5-abreast seating. Passenger capacity is designated
as 110 for the Model BD-500-1A10 and 125 for the Model BD-500-1A11.
Maximum takeoff weight is 131,000 pounds for the Model BD-500-1A10 and
144,000 pounds for the Model BD-500-1A11.
    Bombardier Aerospace proposes to reduce the margin between
VC/MC and VD/MD required by
Title 14, Code of Federal Regulations (14 CFR) 25.335(b) based on the
incorporation of a high-speed protection system in the airplane's
flight control laws. The airplane is equipped with a high-speed
protection system that limits nose down pilot authority at speeds above
VC/MC and prevents the airplane from actually
performing the maneuver required under Sec.  25.335(b)(1).
    These special conditions are necessary to address the proposed
high-speed protection system. These special conditions identify various
symmetric and non-symmetric maneuvers that will ensure that an
appropriate design dive speed is established. Symmetric (pitching)
maneuvers are specified in Sec.  25.331, ``Symmetric maneuvering
conditions.'' Non-symmetric maneuvers are specified in Sec.  25.349,
``Rolling conditions,'' and Sec.  25.351, ``Yaw maneuver conditions.''

Type Certification Basis

    Under the provisions of 14 CFR 21.17, Bombardier Aerospace must
show that the CSeries airplane meets the applicable provisions of part
25 as amended by Amendments 25-1 through 25-129.
    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 CSeries airplanes 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 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 or similar
novel or unusual design feature, the special conditions would also
apply to the other model under Sec.  21.101.
    In addition to the applicable airworthiness regulations and special
conditions, the CSeries airplanes 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, and the FAA must issue a
finding of regulatory adequacy under section 611 of Public Law 92-574,
the ``Noise Control Act of 1972.''
    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.  21.17(a)(2).

Novel or Unusual Design Features

    The CSeries airplanes will incorporate the following novel or
unusual design feature: Bombardier Aerospace proposes to reduce the
margin between VC/MC and VD/
MD required by Sec.  25.335(b) based on the incorporation of
a high-speed protection system in the airplane's flight control laws.
The high-speed protection system limits nose down pilot authority at
speeds above VC/MC and prevents the airplane from
actually performing the maneuver required under Sec.  25.335(b)(1).

Discussion

    Section 25.335(b)(1) is an analytical envelope condition that was
originally adopted in Part 4b of the Civil Air Regulations in order to
provide an acceptable speed margin between design cruise speed and
design dive speed. Flutter clearance design speeds and airframe design
loads are impacted by the design dive speed. While the initial
condition for the upset specified in the rule is 1g level flight,
protection is afforded for other inadvertent overspeed conditions as
well. Section 25.335(b)(1) is intended as a conservative enveloping
condition for potential overspeed conditions, including non-symmetric
ones. To establish that potential overspeed conditions are enveloped,
Bombardier Aerospace needs to demonstrate that any reduced speed
margin, based on the high-speed protection system, will not be exceeded
in inadvertent or gust-induced upsets resulting in initiation of the
dive from non-symmetric attitudes; or that the airplane is protected by
the flight control laws from getting into non-symmetric upset
conditions. Bombardier Aerospace needs to conduct a demonstration that
includes a comprehensive set of conditions, as described below.
    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.

Discussion of Comments

    Notice of Proposed Special Conditions No. 25-14-06-SC for the
Bombardier Aerospace CSeries airplanes was published in the Federal
Register on July 2, 2014 (79 FR 37674). No comments were received, and
the

special conditions are adopted as proposed.

Applicability

    As discussed above, these special conditions are applicable to the
Model BD-500-1A10 and BD-500-1A11 series airplanes. Should Bombardier
Aerospace apply at a later date for a change to the type certificate to
include another model incorporating the same novel or unusual design
feature, the special conditions would apply to that model as well.

Conclusion

    This action affects only certain novel or unusual design features
on two model series of airplanes. It is not a rule of general
applicability.

List of Subjects in 14 CFR Part 25

    Aircraft, Aviation safety, Reporting and recordkeeping
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

0
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 Bombardier Aerospace Models BD-500-
1A10 and BD-500-1A11 (CSeries) airplanes.

Automatic Speed Protection for Design Dive Speed

    1. In lieu of compliance with Sec.  25.335(b)(1), if the flight
control system includes functions that act automatically to initiate
recovery before the end of the 20-second period specified in Sec.
25.335(b)(1), VD/MD must be determined from the
greater of the speeds resulting from conditions (a) and (b) below. The
speed increase occurring in these maneuvers may be calculated, if
reliable or conservative aerodynamic data are used.
    (a) From an initial condition of stabilized flight at
VC/MC, the airplane is upset so as to take up a
new flight path 7.5 degrees below the initial path. Control
application, up to full authority, is made to try and maintain this new
flight path. Twenty seconds after initiating the upset, manual recovery
is made at a load factor of 1.5g (0.5g acceleration increment), or such
greater load factor that is automatically applied by the system with
the pilot's pitch control neutral. Power, as specified in Sec.
25.175(b)(1)(iv), is assumed until recovery is initiated, at which time
power reduction and the use of pilot-controlled drag devices may be
used.
    (b) From a speed below VC/MC, with power to
maintain stabilized level flight at this speed, the airplane is upset
so as to accelerate through VC/MC at a flight
path 15 degrees below the initial path (or at the steepest nose down
attitude that the system will permit with full control authority if
less than 15 degrees). The pilot's controls may be in the neutral
position after reaching VC/MC and before recovery
is initiated. Recovery may be initiated three seconds after operation
of the high-speed warning system by application of a load of 1.5g (0.5g
acceleration increment), or such greater load factor that is
automatically applied by the system with the pilot's pitch control
neutral. Power may be reduced simultaneously. All other means of
decelerating the airplane, the use of which is authorized up to the
highest speed reached in the maneuver, may be used. The interval
between successive pilot actions must not be less than one second.
    2. The applicant must also demonstrate that the speed margin,
established as above, will not be exceeded in inadvertent or gust-
induced upsets resulting in initiation of the dive from non-symmetric
attitudes, unless the airplane is protected by the flight control laws
from getting into non-symmetric upset conditions. The upset maneuvers
described in Advisory Circular 25-7C, Flight Test Guide for
Certification of Transport Category Airplanes, section 8, paragraph 32,
sub-paragraphs c(3)(a) and (b) may be used to comply with this
requirement.
    3. The probability of any failure of the high-speed protection
system that would result in an airspeed exceeding those determined by
paragraphs 1 and 2 must be less than 10-5 per flight hour.
    4. Failures of the system must be annunciated to the pilots. Flight
manual instructions must be provided that reduce the maximum operating
speeds, VMO/MMO. With the system failed, the
operating speed must be reduced to a value that maintains a speed
margin between VMO/MMO and VD/
MD that is consistent with showing compliance with Sec.
25.335(b) without the benefit of the high-speed protection system.
    5. Dispatch of the airplane with the high-speed protection system
inoperative could be allowed under an approved minimum equipment list
that would require flight manual instructions to indicate reduced
maximum operating speeds, as described in paragraph (4). In addition,
the flight deck display of the reduced operating speeds, as well as the
overspeed warning for exceeding those speeds, must be equivalent to
that of the normal airplane with the high-speed protection system
operative. Also, it must be shown that no additional hazards are
introduced with the high-speed protection system inoperative.

    Issued in Renton, Washington, on September 3, 2014.
Michael Kaszycki,
Acting Manager, Transport Airplane Directorate, Aircraft Certification
Service.
[FR Doc. 2014-21787 Filed 9-11-14; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 87, Number 212 (Thursday, November 3, 2022)]
[Notices]
[Pages 66294-66295]
[FR Doc No: 2022-23943]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 2362-044]

Allete, Inc.; Notice of Application Accepted for Filing,
Soliciting Motions To Intervene and Protests, Ready for Environmental
Analysis, and Soliciting Comments, Preliminary Terms and Conditions,
and Preliminary Fishway Prescriptions

    Take notice that the following hydroelectric application has been
filed with the Commission and is available for public inspection.
    a. Type of Application: New Major License.
    b. Project No.: 2362-044.
    c. Date filed: December 20, 2021.
    d. Applicant: Allete, Inc. (Allete).
    e. Name of Project: Grand Rapids Hydroelectric Project (Grand
Rapids Project).
    f. Location: On the Mississippi River near the City of Grand Rapids
in Itasca County, Minnesota. The project does not include any federal
lands.
    g. Filed Pursuant to: Federal Power Act 16 U.S.C. 791 (a)-825(r).
    h. Applicant Contact: Mr. David R. Moeller, Senior Attorney &
Director of Regulatory Compliance, ALLETE, Inc., d.b.a. Minnesota
Power, 30 West Superior Street, Duluth, MN 55802,<PHONE_NUMBER>,
[email protected].
    i. FERC Contact: Laura Washington<PHONE_NUMBER>,
[email protected].
    j. Deadline for filing motions to intervene and protests, comments,
recommendations, preliminary terms and conditions, and preliminary
prescriptions: 60 days from the issuance date of this notice; reply
comments are due 105 days from the issuance date of this notice.
    The Commission strongly encourages electronic filing. Please file
motions to intervene, protests, comments, recommendations, preliminary
terms and conditions, and preliminary fishway prescriptions using the
Commission's eFiling system at http://www.ferc.gov/docs-filing/efiling.asp. Commenters can submit brief comments up to 6,000
characters, without prior registration, using the eComment system at
http://www.ferc.gov/docs-filing/ecomment.asp. You must include your
name and contact information at the end of your comments. For
assistance, please contact FERC Online Support at
[email protected],<PHONE_NUMBER> (toll free), or (202) 502-
8659 (TTY). In lieu of electronic filing, you may submit a paper
request. Submissions sent via the U.S. Postal Service must be addressed
to: Kimberly D. Bose, Secretary, Federal Energy Regulatory Commission,
888 First Street NE, Room 1A, Washington, DC 20426. Submissions sent
via any other carrier must be addressed to: Kimberly D. Bose,
Secretary, Federal Energy Regulatory Commission, 12225 Wilkins Avenue,
Rockville, Maryland 20852. The first page of any filing should include
docket number P-2362-044.
    The Commission's Rules of Practice require all intervenors filing
documents with the Commission to serve a copy of that document on each
person on the official service list for the project. Further, if an
intervenor files comments or documents with the Commission relating to
the merits of an issue that may affect the responsibilities of a
particular resource agency, they must also serve a copy of the document
on that resource agency.
    k. This application has been accepted for filing and is now ready
for environmental analysis.
    The Council on Environmental Quality (CEQ) issued a final rule on
April 20, 2022, revising the regulations under 40 CFR parts 1502, 1507,
and 1508 that federal agencies use to implement the National
Environmental Policy Act (NEPA) (see National Environmental Policy Act
Implementing Regulations Revisions, 87 FR 23,453-70). The final rule
became effective on May 20, 2022. Commission staff intends to conduct
its NEPA review in accordance with CEQ's new regulations.
    l. The Grand Rapids Project consists of the following existing
facilities: (1) a 465-acre reservoir with a water surface elevation of
1,268.2 feet National Geodetic Vertical Datum (NGVD); (2) a 349-foot-
long dam consisting of: (a) a 80-foot-long training wall along the
right abutment, (b) a 78-foot-long, 21-foot-high concrete gated
spillway with six spillway bays, three stoplog gates and three steel
slide gates, (c) a 21-foot-long, 12 foot high concrete Tainter gate;
(3) a concrete overflow section; (4) intakes consisting of: (a) 16.5
foot-high, 21-foot-long intake (Unit 4,) and (b) 16.5 foot-high, 31-
foot-wide intake (Unit 5), both with \3/8\ inch bar spacing vertical
trash racks; (5) a 60-foot-long, 58-foot-high integral powerhouse that
contains one vertical shaft Francis turbine with a total installed
capacity of 0.6 megawatts (MW) and one vertical 4 Blade Propeller
turbine with a total installed capacity of 1.5 MW.
    The Grand Rapids Project is currently operated in a run-of-river
mode and generates an annual average of approximately 6,424 megawatt-
hours.

Allete proposes to continue operating the project as a run-of-river
facility and does not propose any new construction to the project.
    m. A copy of the application can be viewed on the Commission's
website at http://www.ferc.gov using the ``eLibrary'' link. Enter the
docket number excluding the last three digits in the docket number
field to access the document.
    At this time, the Commission has suspended access to the
Commission's Public Reference Room, due to the proclamation declaring a
National Emergency concerning the Novel Coronavirus Disease (COVID-19),
issued by the President on March 13, 2020. For assistance, contact FERC
at [email protected] or call toll-free,<PHONE_NUMBER> or
TTY,<PHONE_NUMBER>.
    n. Anyone may submit comments, a protest, or a motion to intervene
in accordance with the requirements of Rules of Practice and Procedure,
18 CFR 385.210, 211, and 214. In determining the appropriate action to
take, the Commission will consider all protests or other comments
filed, but only those who file a motion to intervene in accordance with
the Commission's Rules may become a party to the proceeding. Any
comments, protests, or motions to intervene must be received on or
before the specified comment date for the particular application.
    All filings must (1) bear in all capital letters the title
``PROTEST'', ``MOTION TO INTERVENE'', ``COMMENTS,'' ``REPLY COMMENTS,''
``RECOMMENDATIONS,'' ``PRELIMINARY TERMS AND CONDITIONS,'' or
``PRELIMINARY FISHWAY PRESCRIPTIONS''; (2) set forth in the heading the
name of the applicant and the project number of the application to
which the filing responds; (3) furnish the name, address, and telephone
number of the person protesting or intervening; and (4) otherwise
comply with the requirements of 18 CFR 385.2001 through 385.2005. All
comments, recommendations, terms and conditions or prescriptions must
set forth their evidentiary basis and otherwise comply with the
requirements of 18 CFR 4.34(b). Agencies may obtain copies of the
application directly from the applicant. A copy of any protest or
motion to intervene must be served upon each representative of the
applicant specified in the particular application. A copy of all other
filings in reference to this application must be accompanied by proof
of service on all persons listed in the service list prepared by the
Commission in this proceeding, in accordance with 18 CFR 4.34(b) and
385.2010.
    You may also register online at https://www.ferc.gov/ferc-online/overview to be notified via email of new filings and issuances related
to this or other pending projects. For assistance, contact FERC Online
Support.
    o. The license applicant must file no later than 60 days following
the date of issuance of this notice: (1) a copy of the water quality
certification; (2) a copy of the request for certification, including
proof of the date on which the certifying agency received the request;
or (3) evidence of waiver of water quality certification. Please note
that the certification request must comply with 40 CFR 121.5(b),
including documentation that a pre-filing meeting request was submitted
to the certifying authority at least 30 days prior to submitting the
certification request. Please note that the certification request must
be sent to the certifying authority and to the Commission concurrently.
    p. Procedural schedule: The application will be processed according
to the following schedule. Revisions to the schedule will be made as
appropriate.

------------------------------------------------------------------------
                  Milestone                           Target date
------------------------------------------------------------------------
Deadline for Filing Protest, Motion to        December 2022.
 Intervene, Comments, Recommendations,
 Preliminary Terms and Conditions, and
 Preliminary Fishway Prescriptions.
Deadline for Filing Reply Comments..........  February 2023.
------------------------------------------------------------------------

    q. Final amendments to the application must be filed with the
Commission no later than 30 days from the issuance date of this notice.

    Dated: October 28, 2022.
Debbie-Anne A. Reese,
Deputy Secretary.
[FR Doc. 2022-23943 Filed 11-2-22; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 76, Number 220 (Tuesday, November 15, 2011)]
[Notices]
[Pages 70784-70788]
[FR Doc No: 2011-29442]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-65717; File No. SR-NASDAQ-2011-150]

Self-Regulatory Organizations; The NASDAQ Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Modify NASDAQ's Investor Support Program, Offer an Additional Liquidity
Provider Credit Through a Pre-Market Investor Program, and Make Other
Changes to Pricing for Members Using the NASDAQ Market Center

November 9, 2011.
    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 November 1, 2011, The NASDAQ Stock Market LLC (``NASDAQ'') filed
with the Securities and Exchange Commission (``Commission'') the
proposed rule change as described in Items I, II, and III below, which
Items have been prepared by NASDAQ. The Commission is publishing this
notice to solicit comments on the proposed rule change from interested
persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    NASDAQ proposes to modify its Investor Support Program, offer an
additional liquidity provider credit through a pre-market investor
program, and make other changes to pricing for NASDAQ members using the
NASDAQ Market Center. NASDAQ will implement the proposed change on
November 1, 2011. The text of the proposed rule change is available at
http://nasdaq.cchwallstreet.com/, at NASDAQ's principal office, 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, NASDAQ 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. NASDAQ 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 the
Statutory Basis for, the Proposed Rule Change

1. Purpose
The Investor Support Program
    The Exchange is proposing changes to the credit provisions of Rule
7014 to modify the structure of its Investor Support Program. The ISP
enables NASDAQ members to earn a monthly fee credit for providing
additional liquidity to NASDAQ and increasing the NASDAQ-traded volume
of what are generally considered to be retail and institutional
investor orders in exchange-traded securities (``targeted
liquidity'').\3\ The goal of the ISP is to incentivize members to
provide such targeted liquidity to the NASDAQ Market Center.\4\ The
Exchange noted in the ISP Filing that maintaining and increasing the
proportion of orders in exchange-listed securities executed on a
registered exchange (rather than relying on any of the available off-
exchange execution methods) would help raise investors' confidence in
the fairness of their transactions and would benefit all investors by
deepening NASDAQ's liquidity pool, supporting the quality of price
discovery, promoting market transparency and improving investor
protection.
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    \3\ For a detailed description of the Investor Support Program
as originally implemented, see Securities Exchange Act Release No.
63270 (November 8, 2010), 75 FR 69489 (November 12, 2010) (NASDAQ-
2010-141) (notice of filing and immediate effectiveness) (the ``ISP
Filing''). See also Securities Exchange Act Release Nos. 63414
(December 2, 2010), 75 FR 76505 (December 8, 2010) (NASDAQ-2010-153)
(notice of filing and immediate effectiveness); 63628 (January 3,
2011), 76 FR 1201 (January 7, 2011) (NASDAQ-2010-154) (notice of
filing and immediate effectiveness); 63891 (February 11, 2011), 76
FR 9384 (February 17, 2011) (NASDAQ-2011-022) (notice of filing and
immediate effectiveness); and 64050 (March 8, 2011), 76 FR 13694
(March 14, 2011) (SR-NASDAQ-2011-034).
    \4\ The Commission has recently expressed its concern that a
significant percentage of the orders of individual investors are
executed at over the counter (``OTC'') markets, that is, at off-
exchange markets; and that a significant percentage of the orders of
institutional investors are executed in dark pools. Securities
Exchange Act Release No. 61358 (January 14, 2010), 75 FR 3594
(January 21, 2010) (Concept Release on Equity Market Structure,
``Concept Release''). In the Concept Release, the Commission has
recognized the strong policy preference under the Act in favor of
price transparency and displayed markets. The Commission published
the Concept Release to invite public comment on a wide range of
market structure issues, including high frequency trading and un-
displayed, or ``dark,'' liquidity. See also Mary L. Schapiro,
Strengthening Our Equity Market Structure (Speech at the Economic
Club of New York, Sept. 7, 2010) (``Schapiro Speech,'' available on
the Commission Web site) (comments of Commission Chairman on what
she viewed as a troubling trend of reduced participation in the
equity markets by individual investors, and that nearly 30 percent
of volume in U.S.-listed equities is executed in venues that do not
display their liquidity or make it generally available to the
public).
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    The Exchange now proposes modifications to the ISP designed to
broaden participation by members with targeted liquidity and create a
clearer incentive structure. First, NASDAQ is modifying the definition
of ``Baseline Participation Ratio'' to allow a greater number of
members to participate in the program. In general terms, the Baseline
Participation Ratio is the ratio of shares of liquidity provided by the
member in NASDAQ for the month of August 2010 to the total consolidated
volume for that month. To the extent that a member's participation in
NASDAQ exceeds its Baseline Participation Ratio (i.e., to the extent
that the member increases its participation in NASDAQ above August 2010
levels), the member may be eligible for the program.\5\ The current
definition of Baseline Participation Ratio is ``with respect to a
member, such member's Participation Ratio \6\ for the

month of August 2010, provided that in calculating the August 2010
Participation Ratio, the numerator shall be increased by the amount (if
any) of the member's August 2010 Indirect Order Flow,\7\ and provided
further that if the result is zero, the Baseline Participation Ratio
shall be deemed to be 0.485% (when rounded to three decimal places).''
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    \5\ As discussed below, the ISP is being modified such that
participation must equal or exceed past levels.
    \6\ The term ``Participation Ratio'' is defined as: ``for a
given member in a given month, the ratio of (A) The number of shares
of liquidity provided in orders entered by the member through any of
its Nasdaq ports and executed in the Nasdaq Market Center during
such month to (B) the Consolidated Volume.'' The term ``Consolidated
Volume'' is defined as: ``for a given member in a given month, the
consolidated volume of shares of System Securities in executed
orders reported to all consolidated transaction reporting plans by
all exchanges and trade reporting facilities during such month.''
The term ``System Securities'' is defined in Rule 4751(b) as: ``all
securities listed on NASDAQ and all securities subject to the
Consolidated Tape Association Plan and the Consolidated Quotation
Plan.''
    \7\ The term ``Indirect Order Flow'' is defined as: ``for a
given member in a given month, the number of shares of liquidity
provided in orders entered into the Nasdaq Market Center at the
member's direction by another member with minimal substantive
intermediation by such other member and executed in the Nasdaq
Market Center during such month.'' Thus, the term allows a member to
include orders that it entered through another member in calculating
the baseline.
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    NASDAQ is proposing to modify the definition to allow a member's
Baseline Participation Ratio to be based on the lower of its
Participation Ratio for August 2010 or August 2011. Thus, to the extent
that a member's participation in the ISP was limited by having a high
Participation Ratio in August 2010, the member might have greater
eligibility to participate to the extent that its Participation Ratio
was lower in August 2011 than in August 2010. On the other hand, a
current participant with a low ratio in August 2010 would be eligible
to continue to participate based on that ratio. The revised definition
will read as follows: ``with respect to a member, the lower of such
member's Participation Ratio for the month of August 2010 or the month
of August 2011, provided that in calculating such Participation Ratios,
the numerator shall be increased by the amount (if any) of the member's
Indirect Order Flow for such month, and provided further that if the
result is zero for either month, the Baseline Participation Ratio shall
be deemed to be 0.485% (when rounded to three decimal places).''
    Second, NASDAQ is proposing to allow a member that is eligible to
participate in the ISP to receive a credit with respect to all of the
displayed liquidity that it provides through NASDAQ, not merely
liquidity provided above the level of the Baseline Participation Ratio,
as is currently the case. However, because a credit will be provided
with respect to more shares, the level of the credit will be lowered in
some cases.
    Currently, a member that participates in the ISP program receives a
credit of $0.0003, $0.0004, or $0.0005 per share with respect to the
lower of (i) The number of shares of displayed liquidity provided by
the member through ports designated for ISP use that execute at $1 or
more per share; \8\ or (ii) the member's ``Added Liquidity,'' which is
a measure of the extent to which the member's participation in the
market exceeds its Baseline Participation Ratio.\9\ The precise credit
rate--$0.0003, $0.0004, or $0.0005 per share--is determined by factors
designed to measure the degree of the member's participation in the
Nasdaq Market Center and the percentage of orders that it enters that
execute--its ``ISP Execution Ratio''--which is seen as indicative of
retail or institutional participation. Under the proposed change, a
credit will be paid with respect to all displayed liquidity- providing
orders that execute at a price of $1 or more, provided the member
satisfies the criteria described below, which are likewise designed to
be indicative of retail or institutional participation. The rates of
the credit vary based on criteria similar to those currently in use.
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    \8\ A participant in the ISP must designate specific order-entry
ports for use in tabulating certain requirements under the program.
    \9\ Specifically, ``Added Liquidity'' is defined as: ``for a
given member in a given month, the number of shares calculated by
(i) Subtracting from such member's Participation Ratio for that
month the member's Baseline Participation Ratio, and the (ii)
multiplying the resulting difference by the average daily
Consolidated Volume; provided that if the result is a negative
number, the Added Liquidity amount shall be deemed zero.''
---------------------------------------------------------------------------

    Under the revised program, NASDAQ will pay a credit of $0.0001 per
share with respect to all of a member's displayed liquidity-providing
orders that execute at a price of $1 or more per share during the month
if the following conditions are met:
    (1) The member's Participation Ratio for the month is equal to or
greater than its Baseline Participation Ratio. Thus, the percentage of
Consolidated Volume represented by the member's liquidity-providing
orders must be equal to or greater than the member's percentage in
either August 2010 or August 2011. The requirement reflects the
expectation that a member participating in the program must maintain or
increase its participation in NASDAQ as compared with an historical
baseline.
    (2) As is currently the case, the member's ``ISP Execution Ratio''
for the month must be less than 10.\10\ The ISP Execution Ratio is
defined as ``the ratio of (A) The total number of liquidity-providing
orders entered by a member through its ISP-designated ports during the
specified time period to (B) the number of liquidity-providing orders
entered by such member through its ISP-designated ports and executed
(in full or partially) in the Nasdaq Market Center during such time
period; provided that: (i) No order shall be counted as executed more
than once; (ii) no Pegged Orders, odd-lot orders, or MIOC or SIOC
orders shall be included in the tabulation; \11\ and (iii) no order
shall be included in the tabulation if it executes but does not add
liquidity.'' \12\ Thus, the definition requires a ratio between the
total number of orders that post to the NASDAQ book and the number of
such orders that actually execute that is low, a characteristic that
NASDAQ believes to be reflective of retail and institutional order
flow.
---------------------------------------------------------------------------

    \10\ Under the current provisions of Rule 7014(c), it is stated
that a member may not participate in the ISP if its ISP Execution
Ratio is 10 or above. Under the revised rule, it is stated that a
member may participate in the ISP if its ISP Execution Ratio is less
than 10. The change is intended to promote the clarity of the rule,
but is not a substantive change.
    \11\ These terms have the meanings assigned to them in Rule
4751. MIOC and SIOC orders are forms of ``immediate or cancel''
orders and therefore cannot be liquidity-providing orders.
    \12\ Clause (iii) of the definition is redundant, since all
orders that do not provide liquidity are otherwise excluded by the
remainder of the definition. Accordingly, NASDAQ is also proposing
to delete the clause.
---------------------------------------------------------------------------

    (3) The shares of liquidity provided through ISP-designated ports
during the month are equal to or greater than 0.2% of Consolidated
Volume during the month. This requirement replaces a provision
stipulating that a participant's liquidity provision through ISP-
designated ports may not average less than 10 million shares per day.
The requirements are generally comparable, in that they require a
certain base level of usage of ISP ports. However, because the new
requirement is based on a percentage of Consolidated Volume, rather
than an absolute amount of shares, it adjusts to reflect changes in
market volumes from month to month.
    (4) At least 25% of the liquidity provided by the member during the
month is provided through ISP-designated ports. This new requirement is
designed to mitigate ``gaming'' of the program by firms that do not
generally represent retail or institutional order flow but that
nevertheless are able to channel a portion of their orders that they
intend to execute through ISP-designated ports and thereby receive a
credit with respect to those orders. Because, under the modified
program, an ISP credit will be paid with respect to all liquidity-
providing orders, the change is especially important to insure that the
program remains focused on its purpose of encouraging greater

participation in NASDAQ by retail and institutional investors.
    Alternatively, NASDAQ will pay a credit of $0.0003 per share with
respect to shares of displayed liquidity executed at a price of $1 or
more and entered through ISP-designated ports, and $0.0001 per share
with respect to all other shares of displayed liquidity executed at a
price of $1 or more, if the following conditions are met:
    (1) The member's Participation Ratio for the month exceeds its
Baseline Participation Ratio by at least 0.43%.\13\
---------------------------------------------------------------------------

    \13\ Under the current provisions of Rule 7014(c), it is stated
that a member may not receive a higher credit at currently specified
rates if the member does not exceed its Baseline Participation Ratio
by at least 0.43%. Under the revised rule, it is stated that a
member may receive a credit at the $0.0003 rate if the member
exceeds its Baseline Participation Ratio by at least 0.43%. The
change is intended to promote the clarity of the rule, but is not a
substantive change.
---------------------------------------------------------------------------

    (2) As is currently the case, the member's ``ISP Execution Ratio''
for the month must be less than 10.
    (3) The shares of liquidity provided through ISP-designated ports
during the month are equal to or greater than 0.2% of Consolidated
Volume during the month.
    (4) At least 40% of the liquidity provided by the member during the
month is provided through ISP-designated ports. Thus, the higher credit
requires that a greater percentage of the member's order flow has
execution ratio characteristics associated with retail and
institutional order flow.
    Finally, NASDAQ will pay a credit of $0.0004 per share with respect
to shares of displayed liquidity executed at a price of $1 or more and
entered through ISP-designated ports, and $0.0001 per share with
respect to all other shares of displayed liquidity executed at a price
of $1 or more, if the following conditions are met:
    (1) The member's Participation Ratio for the month exceeds its
Baseline Participation Ratio by at least 0.86%.\14\
---------------------------------------------------------------------------

    \14\ Under the current provisions of Rule 7014(c), it is stated
that a member may not receive a higher credit at currently specified
rates if the member does not exceed its Baseline Participation Ratio
by at least 0.86%. Under the revised rule, it is stated that a
member may receive a credit at the $0.0004 rate if the member
exceeds its Baseline Participation Ratio by at least 0.86%. The
change is intended to promote the clarity of the rule, but is not a
substantive change.
---------------------------------------------------------------------------

    (2) As is currently the case, the member's ``ISP Execution Ratio''
for the month must be less than 10.
    (3) The shares of liquidity provided through ISP-designated ports
during the month are equal to or greater than 0.2% of Consolidated
Volume during the month.
    (4) At least 40% of the liquidity provided by the member during the
month is provided through ISP-designated ports.
    Because the program will now pay eligible participants with respect
to all liquidity provided, rather than only with respect to liquidity
added in excess of the Baseline Participation Ratio, the definition of
``Added Liquidity'' is being deleted. In addition, under the current
program, a member may add or remove the designation of a port for ISP
use for a given month, provided the member provides notice to NASDAQ by
the first day of the month. This provision will remain in effect for a
member's existing ports. However, if a member adds a new port and
designates it for ISP use, the designation of that port will take
effect immediately, even if it occurs in the middle of the month. The
existing provision ensures that members and NASDAQ will not be required
to prorate order flow for the purpose of making the calculations
required under the program. In the case of a new port, however, all of
the order flow under the designated port during the course of the month
can be counted without having to remove flow from days prior to the
designation.
Pre-Market Investor Program
    NASDAQ is introducing a Pre-Market Investor Program (the ``PMI
program'') to encourage greater use of NASDAQ's facilities for trading
before the market open at 9:30 a.m. and through the trading day. The
goal of the PMI is to encourage the development of a deeper, more
liquid trading book during pre-market hours, while also recognizing the
correlation observed by NASDAQ between levels of liquidity provided
during pre-market hours and levels provided during regular trading
hours. Under the program, a member will be required to designate one or
more market participant identifiers (``MPIDs'') for use under the
program.\15\ The member will then qualify for an extra rebate of
$0.0001 per share with respect to all of displayed liquidity provided
through a designated MPID that executes at a price of $1 or more during
the month if the following conditions are met:
---------------------------------------------------------------------------

    \15\ Similar to the ISP, after the initial designation of Nasdaq
MPIDs for PMI use, a member may add or remove such PMI designations
for existing MPIDs, provided that Nasdaq must be appropriately
notified of such a change on or before the first trading day of the
month when the change is to become effective. A newly established
MPID may be designated for PMI use immediately upon establishment.
---------------------------------------------------------------------------

    (1) The MPID's ``PMI Execution Ratio'' for the month is less than
10. Similar to the ISP Execution Ratio, the PMI Execution Ratio is
defined as ``the ratio of (A) The total number of liquidity-providing
orders entered by a member through a PMI-designated MPID during the
specified time period to (B) the number of liquidity-providing orders
entered by such member through such PMI-designated MPID and executed
(in full or partially) in the Nasdaq Market Center during such time
period; provided that: (i) No order shall be counted as executed more
than once; and (ii) no Pegged Orders, odd-lot orders, or MIOC or SIOC
orders shall be included in the tabulation.'' Thus, the requirement
stipulates that a high proportion of potentially liquidity-providing
orders entered through the MPID actually execute and provide liquidity.
Similar to the ISP, this requirement is designed to focus the
availability of the program on members representing retail and
institutional customers.
    (2) The member provides an average daily volume of 2 million or
more shares of liquidity during the month using orders that are
executed prior to NASDAQ's Opening Cross. NASDAQ has observed that
members that provide higher volumes of liquidity-providing orders
during the pre-market hours generally do so throughout the rest of the
trading day. Accordingly, the PMI pays a credit with respect to all
liquidity-providing orders, but only in the event that comparatively
large volumes of such orders execute in pre-market hours.
    (3) The ratio between shares of liquidity provided through the MPID
and total shares accessed, provided, or routed through the MPID during
the month is at least 0.80. This requirement reflects the PMI's goal of
encouraging members that provide high levels of liquidity in pre-market
hours to also do so during the rest of the trading day.
    The new program is similar to a fee provision of the EDGX Exchange
under which a favorable execution fee and rebate are offered to members
that add or route an average of more than 4 million shares of liquidity
during pre-market and/or post-market hours.\16\
---------------------------------------------------------------------------

    \16\ http://www.directedge.com/Membership/FeeSchedule/EDGXFeeSchedule.aspx.
---------------------------------------------------------------------------

Change in Rule 7018 Rebate Provisions
    NASDAQ is making a minor modification to its fee and credit
schedule for transaction executions in Rule 7018(a) \17\ to broaden the
conditions under which a member may qualify for a liquidity provider
rebate of $0.0025 per share executed with respect to displayed
liquidity (and $0.0010 per

share executed with respect to non-displayed liquidity). Currently, a
member qualifies for this rebate tier if:
---------------------------------------------------------------------------

    \17\ Rule 7018(a) applies to executions at $1 or more per share.
---------------------------------------------------------------------------

    (1) It has an average daily volume in all securities of more than
20 million shares of liquidity provided through one or more of its
Nasdaq Market Center MPIDs;
    (2) It accesses shares of liquidity in all securities through one
or more of its Nasdaq Market Center MPIDs representing more than 0.45%
of the Consolidated Volume during the month; provided that the member
also provides a daily average of at least 2 million shares of liquidity
in all securities through one or more of its Nasdaq Market Center MPIDs
during the month; or
    (3) The member has (i) Shares of liquidity provided in all
securities during the month representing more than 0.10% of the
Consolidated Volume during the month, through one or more of its Nasdaq
Market Center MPIDs, and (ii) an average daily volume during the month
of more than 115,000 contracts of liquidity accessed or provided
through one or more of its Nasdaq Options Market MPIDs.
    In addition to these methods of achieving this rebate tier, NASDAQ
will also make the tier available to a member that (i) Provides
liquidity through one or more MPIDs representing 0.10% of the
Consolidated Volume during the month; and (ii) accesses shares of
liquidity representing more than 0.20% of the Consolidated Volume
during the month.
Housekeeping Changes
    NASDAQ is also making a few ``housekeeping'' changes to the fee
rules. Specifically, NASDAQ is deleting rule language that governed a
pilot ``attributable market provider program,'' which, by its terms,
expired on September 30, 2011. NASDAQ is also redesignating the
definition section of Rule 7014 from Rule 7014(d) to Rule 7014(g), to
allow the insertion of provisions relating to the PMI. NASDAQ is
renumbering provisions of this definition section to reflect the
deletion of the definition of ``Added Liquidity'', and is making
changes to Rule 7014(h) (formerly 7014(e)) to allow NASDAQ to obtain
information from members with regard to compliance with requirements of
the PMI (as well as the ISP) and to correct a typographical error.
NASDAQ is also adding a definition of ``Nasdaq Opening Cross'' to the
definitions of Rule 7014. Finally, NASDAQ is redesignating clauses in
the definitions of ISP Execution Ratio and Participation Ratio to
enhance their clarity, and deleting redundant language from the
definition of ISP Execution Ratio.
2. Statutory Basis
    NASDAQ believes that the proposed rule change is consistent with
the provisions of Section 6 of the Act,\18\ in general, and with
Sections 6(b)(4) and 6(b)(5) of the Act,\19\ in particular, in that it
provides for the equitable allocation of reasonable dues, fees and
other charges among members and issuers and other persons using any
facility or system which NASDAQ operates or controls, and it is
designed to promote just and equitable principles of trade, to remove
impediments to and perfect the mechanism of a free and open market,
and, in general, to protect investors and the public interest.
---------------------------------------------------------------------------

    \18\ 15 U.S.C. 78f.
    \19\ 15 U.S.C. 78f(b)(4) and (5).
---------------------------------------------------------------------------

    The ISP encourages members to add targeted liquidity that is
executed in the NASDAQ Market Center. The primary objective in making
the enhancements to the ISP reflected in the proposed rule change is to
add an even greater amount of targeted liquidity to the Exchange.
Specifically:
    (i) The proposed rule change introduces a requirement that
participants provide specified percentages of liquidity through ISP-
designated ports. Because ISP-designated ports are required to have a
low ratio of orders to executions, a characteristic reflective of
targeted liquidity, the added requirement that a percentage of all of
the member's provided liquidity comes through such ports provides
further assurance that ISP participants represent targeted liquidity.
    (ii) The proposed rule change replaces a requirement that liquidity
provided through ISP-designated ports average at least 10 million
shares per day with a corresponding requirement that such liquidity
constitute at least 0.2% of Consolidated Volume. The change is not
intended to materially impact the scope of the program, but rather to
allow it to adjust to months with varying market volumes.
    (iii) The change reduces the credit rates payable under the program
from $0.0003, $0.0004, and $0.0005 to $0.0001, $0.0003, and $0.0004,
but expands the shares to which the rates apply to include all
displayed liquidity provided at a price of $1 or more. The change is
intended to simplify member's calculations of expected credits by
making them applicable to all shares, but lower the rates to avoid an
excessive increase in the cost of the program.
    (iv) The change enhances the availability of the program to a wider
range of members representing targeted liquidity by modifying the
Baseline Participation Ratio to reflect the lower of a member's
participation in August 2010 or August 2011. Given the requirement that
ISP participations must equal or exceed their baseline participation in
the market, the change will enhance the value of the program to members
whose market participation was higher in 2010 than in 2011, thereby
encouraging them to again increase their participation.
    (v) The change enhances the flexibility of the program with respect
to designation of new ports for ISP use.
    NASDAQ believes that the overall effect of these changes is to
ensure that the program is focused as carefully as possible on targeted
liquidity, to ensure that as many firms representing targeted liquidity
as possible are eligible to participate, and to simplify the
calculation of such member's credits. The rule change proposal, like
the original ISP, is not designed to permit unfair discrimination, but
rather is intended to promote submission of liquidity-providing orders
to NASDAQ, which benefits all NASDAQ members and all investors.
Likewise, the proposal, like the ISP, is consistent with the Act's
requirement for the equitable allocation of reasonable dues, fees, and
other charges. As explained in the immediately preceding paragraphs,
the proposal enhances the goal of the ISP. Members who choose to
significantly increase the volume of ISP-eligible liquidity-providing
orders that they submit to NASDAQ would be benefitting all investors,
and therefore providing credits to them, as contemplated in the
proposed enhanced program, is equitable. Moreover, NASDAQ believes that
the level of the credit--$0.0001, $0.0003, or $0.0004 per share, in
addition to credits ranging from $0.0010 to $0.00295 per share under
NASDAQ regular transaction execution fee and rebate schedule--is
reasonable.
    The proposed Pre-Market Investor Program is similarly designed to
attract greater liquidity to NASDAQ, with a particular emphasis on
encouraging a deeper and more liquid book during pre-market hours and
recognizing and further encouraging the observed correlation between
liquidity provision during pre-market hours and throughout the trading
day. Accordingly, in a manner comparable to the ISP, the PMI will
provide an additional credit to members that satisfy criteria designed
to be indicative these patterns of market participation. Thus, a
participant in the program is required to designate MPIDs with a low
ratio between orders entered and executions; to provide a specified

volume of liquidity during pre-market hours; and to maintain a high
ratio of liquidity provision to order execution throughout the month.
    The PMI, like the ISP, is not unfairly discriminatory because it is
intended to promote submission of liquidity-providing orders to NASDAQ,
which benefits all NASDAQ members and all investors. Likewise, the PMI,
like the ISP, is consistent with the Act's requirement for the
equitable allocation of reasonable dues, fees, and other charges.
Members who choose to significantly increase the volume of PMI-eligible
liquidity-providing orders that they submit to NASDAQ would be
benefitting all investors, and therefore providing credits to them, as
contemplated in the proposed enhanced program, is equitable. Moreover,
NASDAQ believes that the level of the credit--$0.0001 per share, in
addition to credits ranging from $0.0010 to $0.00295 per share under
NASDAQ regular transaction execution fee and rebate schedule--is
reasonable.
    With regard to the additional rebate tier in NASDAQ's transaction
execution fee and credit schedule, NASDAQ believes that this change is
reasonable because it will provide an additional means by which members
may qualify for an enhanced rebate, without eliminating any of the
existing means of qualifying for the rebate level in question. NASDAQ
further believes that the change is equitable and non-discriminatory,
because it is designed to encourage greater levels of liquidity
provision, which benefits all market participants, and because it is
open to all market participants on the same terms.
    Finally, NASDAQ notes that it operates in a highly competitive
market in which market participants can readily favor competing venues
if they deem fee levels at a particular venue to be excessive, or
rebate opportunities available at other venues to be more favorable. In
such an environment, NASDAQ must continually adjust its fees to remain
competitive with other exchanges and with alternative trading systems
that have been exempted from compliance with the statutory standards
applicable to exchanges. NASDAQ believes that all aspects of the
proposed rule change reflect this competitive environment because the
changes to the ISP, the PMI, and the additional rebate tier are all
designed to increase the credits provided to members that enhance
NASDAQ's market quality through liquidity provision.

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

    NASDAQ 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 amended. Because the market
for order execution is extremely competitive, members may readily opt
to disfavor NASDAQ's execution services if they believe that
alternatives offer them better value. For this reason and the reasons
discussed in connection with the statutory basis for the proposed rule
change, NASDAQ does not believe that the proposed changes will impair
the ability of members or competing order execution venues to maintain
their competitive standing in the financial markets.

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

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act.\20\ 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 should be approved or disapproved.
---------------------------------------------------------------------------

    \20\ 15 U.S.C. 78s(b)(3)(a)(ii) [sic].
---------------------------------------------------------------------------

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-NASDAQ-2011-150 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NASDAQ-2011-150. 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
a.m. and 3 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; 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-NASDAQ-2011-150 and should
be submitted on or before December 6, 2011.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\21\
---------------------------------------------------------------------------

    \21\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2011-29442 Filed 11-14-11; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 81, Number 167 (Monday, August 29, 2016)]
[Rules and Regulations]
[Page 59137]
[FR Doc No: 2016-20648]

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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 117

[Docket No. USCG-2016-0768]

Drawbridge Operation Regulation; Upper Mississippi River, Rock
Island, IL

AGENCY: Coast Guard, DHS.

ACTION: Notice of deviation from drawbridge regulation.

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

SUMMARY: The Coast Guard has issued a temporary deviation from the
operating schedule that governs the Rock Island Railroad and Highway
Drawbridge across the Upper Mississippi River, mile 482.9, at Rock
Island, Illinois. The deviation is necessary to allow the bridge owner
time to facilitate repairs to the locking mechanisms on the rail deck
of the bridge. This deviation allows the bridge to be maintained in the
closed-to-navigation position for critical repairs that are essential
to the continued safe operation of the drawbridge.

DATES: This deviation is effective from 5 a.m. on September 14, 2016 to
5 a.m. on September 15, 2016.

ADDRESSES: The docket for this deviation, USCG-2016-0768, is available
at http://www.regulations.gov. Type the docket number in the ``SEARCH''
box and click ``SEARCH.'' Click on Open Docket Folder on the line
associated with this deviation.

FOR FURTHER INFORMATION CONTACT: If you have questions on this
temporary deviation, call or email Eric A. Washburn, Bridge
Administrator, Western Rivers, Coast Guard; telephone<PHONE_NUMBER>,
email<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: The U.S. Army Rock Island Arsenal requested
a temporary deviation for the Rock Island Railroad and Highway
Drawbridge, mile 482.9, at Rock Island, Illinois across the Upper
Mississippi River. It has a vertical clearance of 23.8 feet above
normal pool in the closed-to-navigation position. Navigation on the
waterway consists primarily of commercial tows and recreational
watercraft. The Rock Island Railroad and Highway Drawbridge currently
operates in accordance with 33 CFR 117.5, which states the general
requirement that drawbridges shall open promptly and fully for the
passage of vessels when a request to open is given in accordance with
the subpart.
    The deviation period is from 5 a.m. on September 14, 2016 to 5 a.m.
on September 15, 2016 when the draw span will remain in the closed-to-
navigation position. During this time the bridge owner will facilitate
critical repairs to the locking mechanisms on the rail deck of the
bridge that are essential to the continued safe operation of the
drawbridge. The bridge will not be able to open for emergencies and
there is no immediate alternate route for vessels to pass this section
of the Upper Mississippi River. The Coast Guard will also inform the
users of the waterway through our Local and Broadcast Notices to
Mariners of the change in operating schedule for the bridge so that
vessels can arrange their transits to minimize any impact caused by the
temporary deviation.
    In accordance with 33 CFR 117.35(e), the drawbridge must return to
its regular operating schedule immediately at the end of the effective
period of this temporary deviation. This deviation from the operating
regulations is authorized under 33 CFR 117.35.

    Dated: August 24, 2016.
Eric A. Washburn,
Bridge Administrator, Western Rivers.
[FR Doc. 2016-20648 Filed 8-26-16; 8:45 am]
 BILLING CODE 9110-04-P


[Federal Register Volume 75, Number 79 (Monday, April 26, 2010)]
[Notices]
[Pages 21690-21692]
[FR Doc No: 2010-9550]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-61942; File No. SR-NYSEArca-2010-26]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of a Proposed Rule Change Amending Its Fee
Schedule

April 20, 2010.
    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 April 9, 2010, NYSE Arca, Inc. (``NYSE Arca'' or the
``Exchange'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule

change as described in Items I, II, and III 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 amend its Schedule of Fees and Charges for
Exchange Services (the ``Schedule''). While changes to the Schedule
pursuant to this proposal will be effective upon filing, the changes
will become operative on April 12, 2010. The text of the proposed rule
change is available on the Exchange's Web site at http://www.nyse.com,
at the Exchange's principal office, on the Commission's Web site at
http://www.sec.gov 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 is proposing to modify its fees structure for
securities that execute at prices below $1. Recently, on April 1, 2010,
the Exchange increased its charges from 0.1% (10 basis points) to 0.3%
(30 basis points) of the total dollar value of the execution for these
securities for ETP Holders accessing liquidity. Also on April 1, 2010,
the Exchange instituted a credit to ETP Holders providing liquidity in
these securities of 0.25% (25 basis points) of the total dollar value
of the transaction. By this proposal, the Exchange seeks to revert to
its pricing prior to these changes and thereby (i) reduce its fee for
accessing liquidity in these securities from 0.3% (30 basis points) to
0.1% (10 basis points) and (ii) provide no credit to ETP Holders
providing liquidity. These fees are consistent with the limitations of
Regulation NMS, SEC Rule 610(c), for securities with a price of less
than $1.00.
    The Exchange believes the proposed fees are reasonable and
equitable in that they apply uniformly to all similarly situated ETP
Holders. The proposed changes will become operative on April 12, 2010.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with the provisions of Section 6 of the Securities Exchange Act of 1934
(the ``Act''),\4\ in general, and Section 6(b)(4) of the Act,\5\ in
particular, in that it is designed to provide for the equitable
allocation of reasonable dues, fees, and other charges among its
members and other persons using its facilities. The proposed changes to
the Schedule are reasonable and equitable in that they apply uniformly
to all similarly situated ETP Holders.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78f(b).
    \5\ 15 U.S.C. 78f(b)(4).
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B. Self-Regulatory Organization's Statement on Burden on Competition

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

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

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

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

    The foregoing rule change is effective upon filing pursuant to
Section 19(b)(3)(A) \6\ of the Act and subparagraph (f)(2) of Rule 19b-
4 \7\ thereunder, because it establishes a due, fee, or other charge
imposed by NYSE Arca on its members.
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    \6\ 15 U.S.C. 78s(b)(3)(A).
    \7\ 17 CFR 240.19b-4(f)(2).
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    At any time within 60 days of the filing of the proposed rule
change, the Commission may summarily abrogate such rule change if it
appears to the Commission that such action is necessary or appropriate
in the public interest, for the protection of investors, or otherwise
in furtherance of the purposes of the Act.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an e-mail to<EMAIL_ADDRESS>Please include
File Number SR-NYSEArca-2010-26 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NYSEArca-2010-26. This
file number should be included on the subject line if e-mail is used.
To help the Commission process and review your comments more
efficiently, please use only one method. The Commission will post all
comments on the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments,
all written statements with respect to the proposed rule change that
are filed with the Commission, and all written communications relating
to the proposed rule change between the Commission and any person,
other than those that may be withheld from the public in accordance
with the provisions of 5 U.S.C. 552, will be available for Web site
viewing and printing in the Commission's Public Reference Section, 100
F Street, NE., Washington, DC 20549-1090 on official business days
between the hours of 10 a.m. and 3 p.m. Copies of the filing will also
be available for inspection and copying at NYSE Arca's principal office
and on its Internet Web site at http://www.nyse.com. 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-2010-26 and should
be submitted on or before May 17, 2010.
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    \8\ 17 CFR 200.30-3(a)(12).

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    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-9550 Filed 4-23-10; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 86, Number 40 (Wednesday, March 3, 2021)]
[Notices]
[Pages 12482-12483]
[FR Doc No: 2021-04375]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2020-N-1638]

Lawrence B. Ryan: Final Debarment Order

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice.

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SUMMARY: The Food and Drug Administration (FDA or Agency) is issuing an
order under the Federal Food, Drug, and Cosmetic Act (FD&C Act)
permanently debarring Lawrence B. Ryan from providing services in any
capacity to a person that has an approved or pending drug product
application. FDA bases this order on a finding that Mr. Ryan was
convicted of a felony under Federal law for conduct that relates to the
regulation of a drug product under the FD&C Act. Mr. Ryan was given
notice of the proposed permanent debarment and an opportunity to
request a hearing to show why he should not be debarred. As of October
18, 2020 (30 days after receipt of the notice), Mr. Ryan had not
responded. Mr. Ryan's failure to respond and request a hearing
constitutes a waiver of his right to a hearing concerning this action.

DATES: This order is applicable March 3, 2021.

ADDRESSES: Submit applications for termination of debarment to the
Dockets Management Staff (HFA-305), Food and Drug Administration, 5630
Fishers

Lane, Rm. 1061, Rockville, MD 20852,<PHONE_NUMBER>, or at https://www.regulations.gov.

FOR FURTHER INFORMATION CONTACT: Jaime Espinosa, (ELEM-4029) Division
of Enforcement, Office of Strategic Planning and Operational Policy,
Office of Regulatory Affairs, Food and Drug Administration, 12420
Parklawn Dr., Rockville, MD 20857,<PHONE_NUMBER>, or at
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. Background

    Section 306(a)(2)(B) of the FD&C Act (21 U.S.C. 335a(a)(2)(B))
requires debarment of an individual from providing services in any
capacity to a person that has an approved or pending drug product
application if FDA finds that the individual has been convicted of a
felony under Federal law for conduct relating to the regulation of any
drug product under the FD&C Act. On June 18, 2020, Mr. Ryan was
convicted as defined in section 306(l)(1) of the FD&C Act when judgment
was entered against him in the U.S. District Court for the Eastern
District of Virginia, Norfolk Division, after his plea of guilty to one
count of conspiracy to defraud the United States in violation of 18
U.S.C. 371.
    The factual basis for this conviction is as follows: As contained
in the Statement of Facts in Mr. Ryan's case, filed on January 8, 2020,
from October 2007, and continuing through September 2010, Mr. Ryan, a
physician, authorized drug orders for RX Limited (also known as RX
Partners), an internet pharmacy organization that facilitated the
unlawful distribution of prescription drugs to consumers throughout the
United States. RX Limited had a business model whereby it allowed
consumers to fill out a brief medical questionnaire, select the type of
drugs the consumer desired, the desired drug strength, and the desired
drug quantity and pay by credit card. RX Limited then forwarded the
order to a participating physician for ``approval.'' The drugs sold by
RX Limited were dispensed without a valid prescription because there
was no valid doctor-patient relationship established between the
authorizing physicians and the customers. Customers had no face-to-face
contact with the participating physician and were not subject to any
mental or physical examinations.
    The physicians authorizing the orders for prescription drugs sold
by RX Limited did not take patient histories or perform any diagnostic
or laboratory testing, did not check the accuracy of the information
customers provided (including their identities, ages, and qualifying
medical conditions), and did not monitor, or provide any means to
monitor, medication response. After the participating physician
authorized the prescription, RX Limited sent the order to a fulfillment
pharmacy, which fulfilled the order and mailed the drugs to the
customer.
    As a participating physician, Mr. Ryan authorized more than 158,000
drug orders for well over 10 individual RX Limited customers.
Prescription drugs distributed pursuant to these orders included,
FIORICET (and its generic equivalents), Carisoprodol (SOMA), Tramadol
(ULTRAM), VIAGRA, CIALIS, and XENICAL. RX Limited paid Mr. Ryan $2.00
per drug order he authorized. From October 2007 through September 2010,
RX Limited paid Mr. Ryan at least $316,153 for the orders he
authorized.
    As a result of this conviction, FDA sent Mr. Ryan by certified mail
on September 11, 2020, a notice proposing to permanently debar him from
providing services in any capacity to a person that has an approved or
pending drug product application. The proposal was based on a finding,
under section 306(a)(2)(B) of the FD&C Act, that Mr. Ryan was convicted
of a felony under Federal law for conduct relating to the regulation of
a drug product under the FD&C Act. The proposal also offered Mr. Ryan
an opportunity to request a hearing, providing him 30 days from the
date of receipt of the letter in which to file the request, and advised
him that failure to request a hearing constituted an election not to
use the opportunity for a hearing and a waiver of any contentions
concerning this action. Mr. Ryan received the proposal on September 18,
2020. Mr. Ryan did not request a hearing within the timeframe
prescribed by regulation and has, therefore, waived his opportunity for
a hearing and any contentions concerning his debarment (21 CFR part
12).

II. Findings and Order

    Therefore, the Assistant Commissioner, Office of Human and Animal
Food Operations, under section 306(a)(2)(B) of the FD&C Act, under
authority delegated to the Assistant Commissioner, finds that Mr. Ryan,
has been convicted of a felony under Federal law for conduct otherwise
relating to the regulation of a drug product under the FD&C Act.
    As a result of the foregoing finding, Mr. Ryan, is permanently
debarred from providing services in any capacity to a person with an
approved or pending drug product application, effective (see DATES)
(see sections 306(a)(2)(B) and (c)(2)(A)(ii) of the FD&C Act). Any
person with an approved or pending drug product application who
knowingly employs or retains as a consultant or contractor, or
otherwise uses the services of, Mr. Ryan, in any capacity during his
debarment, will be subject to civil money penalties (section 307(a)(6)
of the FD&C Act (21 U.S.C. 335b(a)(6))). If Mr. Ryan provides services
in any capacity to a person with an approved or pending drug product
application during his period of debarment, he will be subject to civil
money penalties (section 307(a)(7) of the FD&C Act). In addition, FDA
will not accept or review any abbreviated new drug application from Mr.
Ryan during his period of debarment, other than in connection with an
audit under section 306 of the FD&C Act (section 306(c)(1)(B)). Note
that, for purposes of section 306 of the FD&C Act, a ``drug product''
is defined as a drug subject to regulation under section 505, 512, or
802 of the FD&C Act (21 U.S.C. 355, 360b, or 382) or under section 351
of the Public Health Service Act (42 U.S.C. 262) (see section 201(dd)
of the FD&C Act (21 U.S.C. 321(dd))).
    Any application by Mr. Ryan for special termination of debarment
under section 306(d)(4) of the FD&C Act should be identified with
Docket No. FDA-2020-N-1638 and sent to the Dockets Management Staff
(see ADDRESSES). The public availability of information in these
submissions is governed by 21 CFR 10.20.
    Publicly available submissions will be placed in the docket and
will be viewable at https://www.regulations.gov or at the Dockets
Management Staff (see ADDRESSES) between 9 a.m. and 4 p.m., Monday
through Friday,<PHONE_NUMBER>.

    Dated: February 25, 2021.
Lauren K. Roth,
Acting Principal Associate Commissioner for Policy.
[FR Doc. 2021-04375 Filed 3-2-21; 8:45 am]
BILLING CODE 4164-01-P


[Federal Register Volume 87, Number 96 (Wednesday, May 18, 2022)]
[Notices]
[Pages 30212-30213]
[FR Doc No: 2022-10603]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

 [Project No. 9985-035]

Rivers Electric, LLC; Notice of Intent To File License
Application, Filing of Pre-Application Document, and Approving Use of
the Traditional Licensing Process

    a. Type of Application: Notice of Intent (NOI) to File License
Application and Request to Use the Traditional Licensing Process (TLP).
    b. Project No.: 9985-035.
    c. Date filed: March 29, 2022.
    d. Submitted by: Rivers Electric, LLC (Rivers Electric).
    e. Name of Project: Mill Pond Hydroelectric Project.
    f. Location: Located on the Catskill Creek in Greene County, New
York. The project does not occupy any federal land.
    g. Filed Pursuant to: 18 CFR 5.3 of the Commission's regulations.
    h. Potential Applicant Contact: Mr. Justin Bristol, Asset
Development, Clear Energy Hydro, LLC, 18 S Wilcox St., Ste. 100, Castle
Rock, CO 80104. Phone:<PHONE_NUMBER>, Email:
[email protected].
    i. FERC Contact: Erin Stockschlaeder, Phone:<PHONE_NUMBER>, Email:
[email protected].
    j. Rivers Electric filed its request to use the TLP on March 29,
2022 and provided public notice of its request on March 30, 2022. In a
letter dated May 11, 2022, the Director of the Division of Hydropower
Licensing approved Rivers Electric's request to use the TLP.
    k. With this notice, we are initiating informal consultation with
the U.S. Fish

and Wildlife Service and/or NOAA Fisheries under section 7 of the
Endangered Species Act and the joint agency regulations thereunder at
50 CFR, Part 402; and NOAA Fisheries under section 305(b) of the
Magnuson-Stevens Fishery Conservation and Management Act and
implementing regulations at 50 CFR 600.920. We are also initiating
consultation with the New York State Historic Preservation Officer, as
required by section 106, National Historic Preservation Act, and the
implementing regulations of the Advisory Council on Historic
Preservation at 36 CFR 800.2.
    l. With this notice, we are designating Rivers Electric as the
Commission's non-federal representative for carrying out informal
consultation pursuant to section 7 of the Endangered Species Act; and
consultation pursuant to section 106 of the National Historic
Preservation Act.
    m. Rivers Electric filed a Pre-Application Document (PAD; including
a proposed process plan and schedule) with the Commission, pursuant to
18 CFR 5.6 of the Commission's regulations.
    n. A copy of the PAD may be viewed on the Commission's website
(http://www.ferc.gov), using the ``eLibrary'' link. Enter the docket
number, excluding the last three digits in the docket number field, to
access the document. For assistance, contact FERC Online Support at
[email protected],<PHONE_NUMBER> (toll free), or (202) 502-
8659 (TTY).
    o. The applicant states its unequivocal intent to submit an
application for a subsequent license for Project No. 9985. Pursuant to
18 CFR 16.20 each application for a subsequent license and any
competing license applications must be filed with the Commission at
least 24 months prior to the expiration of the existing license. All
applications for license for this project must be filed by March 31,
2025.
    p. Register online at http://www.ferc.gov/docs-filing/esubscription.asp to be notified via email of new filing and issuances
related to this or other pending projects. For assistance, contact FERC
Online Support.

    Dated: May 11, 2022.
Kimberly D. Bose,
Secretary.
[FR Doc. 2022-10603 Filed 5-17-22; 8:45 am]
BILLING CODE 6717-01-P