[Federal Register Volume 88, Number 68 (Monday, April 10, 2023)]
[Notices]
[Pages 21219-21223]
[FR Doc No: 2023-07415]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-97252; File No. SR-IEX-2023-04]

Self-Regulatory Organizations; Investors Exchange LLC; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To Amend
Several IEX Rules To Permit, and in Some Instances Require, Electronic
Service and Filing of Documents in Disciplinary and Other Proceedings

April 4, 2023.
    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 3, 2023, the Investors Exchange LLC (``IEX'' or the
``Exchange'') 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.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 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

    Pursuant to the provisions of Section 19(b)(1) of Act,\4\ the
Exchange is filing with the Commission a proposed rule change to amend
IEX Rules 9.132, 9.133, 9.135, 9.146, 9.321, 9.341, 9.349, 9.351,
9.522, 9.524, 9.525, 9.559 and 9.630 to permit, and in some instances
require, electronic service and filing of documents in disciplinary and
other proceedings and appeals in conformity with recent changes by the
Financial Industry Regulatory Authority, Inc. (``FINRA'').
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    \4\ 15 U.S.C. 78s(b)(1).
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    The Exchange has designated this proposed rule change as ``non-
controversial'' under Section 19(b)(3)(A) of the Act \5\ and provided
the Commission with the notice required by Rule 19b-4(f)(6)
thereunder.\6\
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    \5\ 15 U.S.C. 78s(b)(3)(A).
    \6\ 17 CFR 240.19b-4.
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    The text of the proposed rule change is available at the Exchange's
website at www.iextrading.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 self-regulatory organization
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 Exchange proposes to amend IEX Rules 9.132, 9.133, 9.135,
9.146, 9.321, 9.341, 9.349, 9.351, 9.522, 9.524, 9.525, 9.559 and 9.630
to permit, and in some instances require, electronic service and filing
of documents in disciplinary and other proceedings and appeals in
conformity with recent changes by FINRA.\7\
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    \7\ See Securities Exchange Act Release Nos. 94654 (April 8,
2022), 87 FR 22264 (April 14, 2022) (SR-FINRA-2022-009)
(``Electronic Service Amendments Filing'').
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Background
    In 2020, following the outbreak of the Coronavirus Disease
(``COVID-19''), FINRA temporarily amended certain of its rules,
including rules related to the method of service and filing in
disciplinary proceedings before the Office of Hearing Officers
(``OHO'') and appeals before the National Adjudicatory Council, among
other types of administrative proceedings (the ``temporary
amendments'').\8\ The temporary amendments allowed, and in some
instances required, FINRA to serve certain documents on parties by
electronic mail (``email'') and required parties to file or serve
documents by

email, unless the parties agreed to an alternative method of
service.\9\
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    \8\ See Securities Exchange Act Release No. 88917 (May 20,
2020), 85 FR 31832 (May 27, 2020) (SR-FINRA-2020-015) (Notice and
immediate effectiveness of filing to temporarily amend certain
timing, method of service and other procedural requirements in FINRA
Rules during the outbreak of COVID-19). FINRA extended the temporary
amendments several times before filing to make certain of the
aforementioned amendments permanent. The temporary amendments
included rule changes to permit the conduct of virtual hearings
(i.e., FINRA Rules 9261 and 9830), which rule changes are not being
included in this proposal. Rather, the Exchange is solely copying a
subset of rules covered by the temporary amendments as discussed
herein.
    \9\ See Id.
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    In support of its Electronic Service Amendments Filing, FINRA noted
that advances in technology and its availability made filing and
service permitted by the temporary amendments more efficient than under
FINRA's ``original'' (non-amended) rules.\10\ Moreover, FINRA
determined that electronic service and filing is beneficial for
parties, panelists and FINRA staff.\11\ FINRA also noted that the
Commission likewise amended its rules in November 2020 to require
electronic filing and service of documents in its administrative
proceedings.\12\ For these reasons, FINRA determined that making
permanent the temporary amendments would similarly improve and
modernize FINRA's operations.\13\ In 2022, the Commission approved
FINRA's Electronic Service Amendments Filing, thereby making permanent
the temporary amendments to FINRA's rules regarding electronic service
and filing, with some modifications.\14\
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    \10\ See Electronic Service Amendments Filing, supra note 7, 87
FR 22267.
    \11\ See Id.
    \12\ See Amendments to the Commission's Rules of Practice,
Securities Exchange Act Release No. 90442 (November 17, 2020), 85 FR
86464 (File No. S7-18-15) (December 30, 2020) (codified at 17 CFR
201 (2020)).
    \13\ See Electronic Service Amendments Filing, supra note 7, 87
FR 22266-67.
    \14\ See Securities Exchange Act Release Nos. 95147 (June 23,
2022), 87 FR 38803 (June 29, 2022) (SR-FINRA-2022-009) (order
approving change to certain FINRA rules to permit, and in some
instances require, electronic service and filing of documents in
disciplinary and other proceedings and appeals) (``Electronic
Service Amendments Approval Order''). The Electronic Service
Amendments Approval Order related to FINRA Rules 1012, 1015, 6490,
9132, 9133, 9135, 9146, 9321, 9341, 9349, 9351, 9522, 9524, 9559 and
9630 (collectively, ``the Electronic Service Amendments'').
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Proposal
    To likewise improve and modernize its rules, the Exchange proposes
to modify certain of the rules in Chapter 9 of the IEX Rule Book to
allow for electronic service and filing of documents in disciplinary
and other proceedings in conformity with the Electronic Service
Amendments.\15\ IEX and FINRA are parties to a regulatory service
agreement pursuant to which FINRA provides various regulatory services
to and on behalf of IEX (``RSA'').\16\ Among the services that FINRA
provides are disciplinary and dispute resolution services involving IEX
Members,\17\ including adjudicating matters on IEX's behalf through
FINRA's OHO.
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    \15\ Consistent with the Electronic Service Amendments Approval
Order, the Exchange is not proposing to permit electronic service of
an initial complaint on a respondent due to heightened fair process
concerns. As is the case today, the only permissible methods of
serving the initial complaint are by hand, mail or courier. See IEX
Rule 9.131(b) (requiring that service be pursuant to IEX Rule
9.134).
    \16\ See IEX Rule 9.001.
    \17\ See IEX Rule 1.160(s).
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    Consistent with the Electronic Service Amendments, the Exchange
proposes to amend certain of its disciplinary rules related to filing,
service and other procedural requirements and appeals. The proposed
rule change includes provisions to allow, and in some instances
require, FINRA, acting on behalf of IEX, to serve certain documents on
parties by email and require parties to file or serve documents by
email, unless another method of service is ordered by the
Adjudicator.\18\ In addition, to support the transition to email
service and filing, the Exchange proposes to require parties in OHO
proceedings to file and serve all parties with their current email
address and contact information at the time of their first appearance,
and to file and serve any change in email address or contact
information during the course of the proceeding.
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    \18\ To the extent that a party lacks the ability to use or
access technology needed to file, serve or accept service by email,
FINRA, as adjudicator, may order an alternative method of service
upon a showing of good cause. See Electronic Service Amendments
Filing, supra note 7, 87 FR 22265.
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    The proposed rule change would permit service of documents other
than the initial complaint by email among various other methods of
service, such as personal service, mail and courier, and to provide
that service by email is deemed complete upon sending. The Exchange
intends to elect email service whenever possible. If FINRA, acting on
behalf of IEX, has knowledge that the address used for service is not
current or not functional (i.e., FINRA receives a bounce back or other
message indicating that there was a failure to deliver the email),
FINRA will use other permissible methods of service until it can verify
the party's email address.\19\ The Exchange notes that, in most cases,
FINRA and the relevant party, or their counsel, will have already
engaged in communications prior to the service of documents or other
information. Accordingly, in most cases, FINRA will already have
information regarding the relevant party, or their counsel's, preferred
method of service.
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    \19\ As indicated in the proposed rule text, the Exchange will
consider service by email complete upon sending of the relevant
document or other information. This is consistent with service by
mail under the current rules.
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    FINRA Rule Series 9000 contains procedural requirements that apply
to FINRA's own disciplinary and adjudicatory processes. Chapter 9 (Code
of Procedure) of IEX's Rule Book contains filing, service and other
procedural requirements that intentionally track the requirements in
FINRA's Rule Series 9000 in order to facilitate FINRA acting on IEX's
behalf when called upon to do so under the RSA. Due to the enactment of
the Electronic Service Amendments, IEX's Chapter 9 rules are currently
inconsistent with some of the rules in FINRA Rule Series 9000, which
now allows, and in some instances requires, FINRA to serve certain
documents on parties by email and require parties to file or serve
documents by email, unless another method of service is ordered by the
Adjudicator. IEX is therefore proposing conforming changes to its rules
to align them with the Electronic Service Amendments.
    The proposed rule changes would permit IEX (and by extension FINRA,
when acting on behalf of IEX) to serve documents other than the initial
complaint by email among various other methods of service, such as
personal service, mail and courier, and to provide that service by
email is deemed complete upon sending. The proposed amendments also
contain provisions to ensure that parties who lack the ability to use
or access email can request relief from the Adjudicator to use an
alternative method of service upon a showing of good cause.\20\
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    \20\ See supra note 18.
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    Chapter 9 of IEX's Rule Book, among other things, sets forth the
procedure for IEX proceedings for disciplining a member, associated
person or formerly associated person. IEX Rule Series 9.130 is of
general applicability to all proceedings set forth in Chapter 9, unless
a rule specifically provides otherwise. IEX Rules 9.132(b),\21\
9.133(b),\22\ and 9.146(l) \23\ provide that the documents and other
information governed by those rules be served pursuant to IEX Rule
9.134, which permits service on the parties using the following
methods: (1) personal service, (2) mail, or (3) courier.\24\ IEX Rule
9.134 does not permit service by email. The proposed rule change would
amend IEX Rule 9.132(b) to allow IEX (or FINRA

acting on behalf of IEX) to serve the relevant documents or information
by email, and amend IEX Rules 9.133(b) and 9.146(l) to require parties
to serve documents by email, unless an alternative method of service is
ordered by the Adjudicator.
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    \21\ See IEX Rule 9.132(b) (Service of Orders, Notices, and
Decisions by Adjudicator; How Served).
    \22\ See IEX Rule 9.133(b) (Service of Papers Other Than
Complaints, Orders, Notices or Decisions; How Served).
    \23\ See IEX Rule 9.146(l) (Motions; General).
    \24\ See IEX Rule 9.134 (Methods of, Procedures for Service).
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    The proposed rule changes would also amend IEX Rule 9.135 to add
paragraph (d), which would require parties in OHO proceedings to file
and serve the parties with their current email address and contact
information at the time of their first appearance, and to file and
serve any change in email address or contact information during the
course of the proceeding.\25\ As noted above, this will ensure that all
parties have accurate electronic contact information for all other
parties.
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    \25\ See proposed IEX Rule 9.135 (Filing of Papers with
Adjudicator; Procedure)
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    IEX Rule Series 9.300 sets forth the procedures for review of
disciplinary proceedings by the IEX Board \26\ and for applications for
SEC review. IEX Rules 9.321, 9.341(c), 9.349(c), and 9.351(e) require
IEX to serve documents in connection with those proceedings. IEX
proposes to amend IEX Rules 9.321, 9.341(c), 9.349(c), and 9.351(e) to
allow for email as a method of service.\27\
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    \26\ See IEX Rule 1.160(e).
    \27\ See proposed IEX Rules 9.321 (Transmission of Record);
9.341(c) (Oral Argument; Notice Regarding Oral Argument); 9.349(c)
(IEX Appeals Committee Formal Consideration; Decision; Issuance of
Decision after Expiration of Call for Review Period); 9.351(e)
(Discretionary Review by IEX Board; Issuance of Decision After
Expiration of Call for Review Period).
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    IEX Rule Series 9.520 sets forth the procedures for eligibility
proceedings and review of those proceedings by the IEX Board. IEX Rules
9.522(a)(4),\28\ 9.524(a)(3)(A) and (B),\29\ 9.524(b)(3),\30\ and
9.525(e) \31\ require IEX to serve documents in connection with those
proceedings, but do not allow for email as a method of service. The
proposed rule change would amend those rules to allow for email as a
method of service.\32\ Further, under the proposed change to IEX Rule
9.524(a)(3)(A) and (B), the disqualified member or sponsoring member
would be required to serve documents and the exhibit and witness lists
by email unless an alternative method of service is ordered by the
Adjudicator.\33\ Additionally, IEX proposes to add new paragraph (d) to
IEX Rule 9.524, which states that service by email shall be deemed
complete upon sending the documents or decision.\34\
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    \28\ See IEX Rule 9.522(a)(4) (Initiation of Eligibility
Proceeding; Member Regulation Consideration; Service).
    \29\ See IEX Rule 9.524(a)(3)(A) and (B) (IEX Appeals Committee
Consideration; Transmission of Documents).
    \30\ See IEX Rule 9.524(b)(3) (IEX Appeals Committee
Consideration; Issuance of Decision After Expiration of Call for
Review Period).
    \31\ See IEX Rule 9.525(e) (Discretionary Review by the IEX
Board; Issuance of Decision).
    \32\ See proposed IEX Rules 9.522(a)(4); 9.524(a)(3)(A) and (B);
9.524(b)(3); and 9.525(e).
    \33\ See proposed IEX Rule 9.524(a)(3)(A) and (B).
    \34\ See proposed IEX Rule 9.524(c).
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    IEX Rule Series 9.550 sets forth the procedures for expedited
proceedings \35\ and the ability of the IEX Board to call for review a
proposed decision prepared under IEX Rule Series 9.550. IEX Rule
9.559(h) (Transmission of Documents) sets forth the timing and method
of service requirements for IEX (or FINRA acting on behalf of IEX) to
provide documents considered in commencing the expedited proceeding
\36\ and for the parties to exchange proposed exhibit and witness lists
\37\ in advance of an expedited proceeding.\38\ IEX Rule 9.559(h) does
not allow for email as a method of service. IEX proposes to amend IEX
Rules 9.559(h)(1) and (2) to allow for email service, unless an
alternative method of service is ordered by the Adjudicator and to
remove text from Rule 9559(h)(2) that requires that documents served by
email must also be served by overnight courier or personal service.\39\
IEX Rule 9.559(q)(2) \40\ requires the IEX Board to serve its decision
when it issues one, and IEX Rule 9.559(q)(5) \41\ requires the IEX
Board to serve the decision on the parties and all members with which
the respondent is associated. IEX Rules 9.559(q)(2) and (5) also do not
allow for email as a method of service. The proposed rule change would
amend Rule 9.559(q)(2) and (5) to allow for email as a method of
service. Further, IEX proposes to add new paragraph (s) to IEX Rule
9.559, which states that service by email shall be deemed complete upon
sending the documents or decision.\42\ Additionally, the proposed
amendment also makes a non-substantive change to correct a
typographical error in the rule's title (adding a period to ``9550'').
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    \35\ Expedited proceedings are available in a subset of
disciplinary proceedings set forth in IEX Rules 9.552 through 9.559.
Examples include IEX Rule 9.552 (Failure to Provide Information or
Keep Information Current) and IEX Rule 9.555 (Failure to Meet the
Eligibility or Qualification Standards or Prerequisites for Access
to Services).
    \36\ See IEX Rule 9.559(h)(1).
    \37\ See IEX Rule 9.559(h)(2).
    \38\ FINRA also amended its Rule 9559(h) to eliminate the
requirements that, if the specified documents are served by
facsimile or email, they must also be served by either overnight
courier or personal delivery. IEX's amendment conforms IEX Rule
9.559(h)(1) and (2) to match FINRA's rule.
    \39\ See proposed IEX Rule 9.559(h)(2).
    \40\ See IEX Rule 9.559(q)(2).
    \41\ See IEX Rule 9.559(q)(5).
    \42\ See proposed IEX Rule 9.559(s).
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    IEX Rule Series 9.600 sets forth the procedures for Members to seek
exemptive relief from a variety of IEX rules, including appealing a
decision of the Chief Regulatory Officer, made pursuant to IEX Rule
9.620. IEX Rules 9.630(e)(1) and (2) \43\ require the IEX Board to
serve its decision pursuant to IEX Rule 9.134, which does not allow for
email as a method of service. The proposed rule change would amend IEX
Rule 9.630(e) to allow for email as an alternative method of
service.\44\ Additionally, IEX proposes to add new paragraph (f) to IEX
Rule 9.630, which states that service by email shall be deemed complete
upon sending the documents or decision.\45\
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    \43\ See IEX Rule 9.630(e) (Appeal; Decision).
    \44\ See proposed IEX Rule 9.630(e)(1) and (2).
    \45\ See proposed IEX Rule 9.630(f).
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    IEX believes these proposed changes will modernize its rules and
make service and filing more efficient and effective because it will
align IEX's service and filing rules with those of FINRA. Email
technology is widely available, and use of electronic methods of
service and filing is common practice in the courts and other
regulatory agencies, including the Commission.\46\ At the same time,
the proposal provides for alternative methods of service for parties
who lack the ability to use or access technology needed to send or
receive documents electronically.
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    \46\ See supra note 12.
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    As noted below, the Exchange has filed the proposed rule change for
immediate effectiveness and has requested that the Commission waive the
requirement that the proposed rule change not become operative for 30
days after the date of the filing, so the Exchange can implement the
proposed rule change immediately.
2. Statutory Basis
    IEX believes that the proposed rule change is consistent with the
provisions of Section 6(b) of the Act,\47\ in general, and furthers the
objectives of Section 6(b)(5) of the Act,\48\ in particular, because it
is designed to prevent fraudulent and manipulative acts and practices,
to promote just and equitable principles of trade, and, in general, to
protect investors and the public interest. Additionally, the Exchange
believes the proposed rule change is designed to provide a fair
procedure for the disciplining of members and persons associated with
members, consistent

with Sections 6(b)(7) and 6(d) of the Act.\49\
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    \47\ 15 U.S.C. 78f(b).
    \48\ 15 U.S.C. 78f(b)(5).
    \49\ 15 U.S.C. 78f(b)(5).
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    IEX believes that the proposed rule change protects investors and
the public interest by requiring use of broadly available technology to
make service and filing processes more efficient and effective. IEX's
disciplinary and eligibility proceedings and other review processes
serve a critical role in providing investor protection and maintaining
fair and orderly markets by, for example, sanctioning misconduct and
preventing further customer harm by members and associated persons.
    The proposed rule change promotes efficiency in these processes by
aligning IEX's rules with FINRA's rules that permit electronic service
and filing in most instances. To ensure that documents are effectively
sent and received, IEX (in line with FINRA's requirements) is proposing
to require parties to provide and update their contact information,
including their email address, during the course of a proceeding. These
amendments reduce the reliance on paper documents in favor of more
efficient electronic formats. IEX concurs with the Commission and FINRA
in the belief that adopting rules on electronic service and filing is
especially important as hybrid and remote work become more common.
    IEX believes as well that the proposed rule change includes
important safeguards to ensure fairness. For example, there are
procedures in place for persons who lack the ability to use or access
technology necessary to send or receive documents electronically. Such
parties will have the ability to request relief from the Adjudicator to
file or serve documents by another method.\50\ As discussed in the
Purpose section, based on FINRA's representations about its experience
of operating under its temporary amendments, which have permitted
electronic service and filing since mid-2020, IEX anticipates that
requests to use non-electronic methods of service will be rare. In
addition, the proposed rule change balances the interests of fairness
and efficiency. Service of the initial complaint will continue to occur
by hand, mail or courier, rather than by electronic means, thus
ensuring there is satisfactory notice and fair process. Thus, the
proposed rule change represents a significant step toward modernizing
the service and filing processes in a manner that will protect
investors and the public interest by promoting efficiency while
preserving fair process.
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    \50\ See supra note 18.
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    Additionally, the Exchange believes that the proposed rule change
supports the objectives of the Act by providing greater harmonization
between Exchange rules and FINRA rules of similar purpose, resulting in
less burdensome and more efficient regulatory compliance. As such, the
proposed rule change will foster cooperation and coordination with
persons engaged in facilitating transactions in securities and will
remove impediments to and perfect the mechanism of a free and open
market and a national market system.
    Finally, as discussed in the Purpose section, this proposed rule
change is based on FINRA rule changes approved by the Commission in
2022.\51\ Therefore, IEX believes there is nothing in this proposal
that is new or novel that has not been previously considered by the
Commission.
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    \51\ See supra note 14.
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B. Self-Regulatory Organization's Statement on Burden on Competition

    IEX 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. To the contrary, IEX believes
that proposed rule change reduces the burden on competition because it
eliminates inconsistencies between IEX's Code of Procedure (Chapter 9
of the IEX Rule Book) and FINRA's rules governing the adjudication of
disputes and disciplinary proceedings. Additionally, IEX notes that the
proposed rule change is not intended to address competitive issues but
is designed to modernize the service and filing process in
harmonization with the approved FINRA Rules.

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 Exchange has designated this rule filing as non-controversial
under Section 19(b)(3)(A) \52\ of the Act and Rule 19b-4(f)(6) \53\
thereunder. 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 and Rule 19b-
4(f)(6) thereunder.
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    \52\ 15 U.S.C. 78s(b)(3)(A).
    \53\ 17 CFR 240.19b-4(f)(6).
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    The Exchange believes that this filing is non-controversial and
eligible to become effective immediately because the proposal provides
a more uniform standard for disciplinary rules across self-regulatory
organizations and thereby enables the Exchange to modernize the service
and filing process to conduct disciplinary hearings. The Exchange
further believes that the proposed rule change would not significantly
affect the protection of investors or the public interest or impose any
significant burden on competition because the proposed rule change is
based on the approved FINRA Electronic Service Amendments.\54\ As such,
the IEX believes the proposal does not raise any new or novel issues
not previously considered by the Commission.
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    \54\ See generally Electronic Service Amendments Approval Order,
supra note 14.
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    A proposed rule change filed under Rule 19b-4(f)(6) \55\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b4(f)(6)(iii),\56\ the Commission
may 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. Additionally, the
Exchange has given the Commission written notice of its intent to file
the proposed rule change, along with a brief description and text of
the proposed rule change, at least five business days prior to the date
of filing of the proposed rule change, or such shorter time as
designated by the Commission. The Exchange states that this filing is
non-controversial and eligible to become effective immediately because
the proposal promotes uniformity in disciplinary rules across self-
regulatory organizations and thereby enables the Exchange to modernize
the service and filing process to conduct disciplinary hearings.\57\
The Exchange further states that the proposed rule change would not
significantly affect the protection of investors or the public interest
or impose any significant burden on competition because the proposed
rule

change is based on the approved FINRA Rules. After reviewing the
filing, the Commission believes that waiver of the 30-day operative
delay for this proposal is consistent with the protection of investors
and the public interest. The proposed rule change supports the
objectives of the Act by providing greater harmonization between
Exchange rules and FINRA rules of similar purpose, resulting in less
burdensome and more efficient regulatory compliance. Accordingly, the
Commission hereby waives the 30-day operative delay and designates the
proposal operative upon filing.\58\
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    \55\ 17 CFR 240.19b-4(f)(6).
    \56\ 17 CFR 240.19b-4(f)(6)(iii).
    \57\ See supra Item II.
    \58\ For purposes only of waiving the 30-day operative delay,
the Commission has considered the proposed rule change's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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    At any time within 60 days of the filing of such 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 under
Section 19(b)(2)(B) \59\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
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    \59\ 15 U.S.C. 78s(b)(2)(B).
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IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include
File Number SR-IEX-2023-04 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-IEX-2023-04. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549 on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of the filing also will be available for inspection
and copying at the principal office of the Exchange. All comments
received will be posted without change. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly.
    All submissions should refer to File Number SR-IEX-2023-04 and
should be submitted on or before May 1, 2023.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\60\
---------------------------------------------------------------------------

    \60\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-07415 Filed 4-7-23; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: June 6, 2007 (Volume 72, Number 108)]
[Notices]
[Page 31363-31364]
[DOCID:fr06jn07-136]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-55812; File No. SR-Phlx-2006-61]

Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.;
Order Approving Proposed Rule Change and Amendments No. 2 and No. 4
Thereto Relating to Order and Decorum Regulations

May 24, 2007.

I. Introduction

    On September 26, 2006, the Philadelphia Stock Exchange, Inc.
(``Phlx'' or ``Exchange'') filed with the Securities and Exchange
Commission (``Commission''), pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4
thereunder,\2\ a proposed rule change to amend the Exchange's Option
Order and Decorum Regulations. On November 14, 2006, the Exchange filed
Amendment No. 1 to the proposed rule change, which was subsequently
withdrawn.\3\ On January 19, 2007, the Exchange filed Amendment No. 2
to the proposed rule change.\4\ The proposed rule change, as amended,
was published for comment in the Federal Register on March 27, 2007.\5\
The Commission received no comments regarding the proposal. On May 4,
2007, the Exchange filed Amendment No. 3 to the proposed rule change,
which was subsequently withdrawn.\6\ On May 14, 2007, the Exchange
filed Amendment No. 4 to the proposed rule change.\7\ This order
approves the proposed rule change, as amended.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ On January 12, 2007, Phlx withdrew Amendment No. 1.
    \4\ Amendment No. 2 replaced the original proposed rule change
in its entirety.
    \5\ See Securities Exchange Act Release No. 55492 (March 20,
2007), 72 FR 14321 (``Notice'').
    \6\ On May 14, 2007, Phlx withdrew Amendment No. 3.
    \7\ In Amendment No. 4, the Exchange deleted proposed rule text
from Exchange Regulation 2 regarding the registration of equipment
on the Exchange floor. This deletion conformed the proposed rule
text with changes the Exchange made to the proposal in Amendment No.
2. This is a technical amendment and is not subject to notice and
comment.
---------------------------------------------------------------------------

II. Description of Proposal

    The Exchange proposes to amend the Exchange's Option Order and
Decorum Regulation 2 (Food, Liquids and Beverages); Regulation 4
(Order); Regulation 5 (Visitors and Applicants); and Regulation 6
(Dress), pursuant to Exchange Rule 60. The Exchange's amendments to
these Exchange regulations include the following:
    (i) An amendment to Exchange Regulation 2 that (1) Allows Exchange
members and associated persons to consume foods, liquids and beverages
on the Exchange's trading floor, provided that such consumption does
not unreasonably interfere with business on the trading floor, (2) adds
language concerning vandalism, (3) increases the fines associated with
violations of Exchange Regulation 2, (4) adds additional fines for
violating trash, litter and vandalism regulations, and (5) changes the
title of the Exchange Regulation 2 from ``Food, Liquids and Beverages''
to ``Food, Liquids and Beverages, Trash, Litter and Vandalism;''
    (ii) An amendment to Exchange Regulation 4 that adds language
clarifying that the use of profanity is a violation of this Regulation;
    (iii) An amendment to Exchange Regulation 5 that authorizes an
Exchange official or Options Exchange Official to permit visitors on
the trading floor;
    (iv) An Amendment to Exchange Regulation 6 that (1) Clarifies what
business attire is deemed acceptable on the trading floor, and (2)
increases the amount of fines associated with violations of Exchange
Regulation 6; and
    (v) Amendments to Exchange Regulations 2, 4, 5 and 6 that add
language indicating that Exchange Staff may impose fines for breaches
of order, decorum, health, safety and welfare on the members, member
organizations, participants, participant organizations and their
associated persons.

III. Discussion and Commission Findings

    The Commission finds that the proposed rule change is consistent
with the requirements of the Act and the rules and regulations
thereunder applicable to a national securities exchange.\8\
Specifically, the Commission finds that the proposal is consistent with
Section 6(b) of the Act \9\ in general, and furthers the objectives of
Section 6(b)(5) of the Act \10\ in particular, in that it is designed
to promote just and equitable principles of trade, to remove
impediments to and perfect the mechanism of a free and open market and
a national market system, and, in general to protect investors and the
public interest. Specifically, the Commission finds that proposed
amendments to the Exchange's order and decorum regulations would assist
the Exchange in maintaining an orderly operating environment, which is
consistent with the protection of investors and the public interest.
---------------------------------------------------------------------------

    \8\ In approving this proposed rule change the Commission has
considered the proposed rule's impact on efficiency, competition,
and capital formation. 15 U.S.C. 78c(f).
    \9\ 15 U.S.C. 78f(b).
    \10\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    In addition, the Commission finds that the proposal is consistent
with Section 6(b)(6) of the Act \11\ which requires the rules of an
exchange provide that its members be appropriately disciplined for
violations of the Act as well as the rules and regulations thereunder.
Specifically, the Commission finds that the Exchange's proposed
disciplinary sanctions and fines for violations of its order and
decorum regulations are consistent with normal regulatory safeguards
that an exchange should provide under the Act to ensure the order and
operation of its trading floor. In particular, these proposed fines
appear to provide an

appropriate sanction for violations of the Exchange's order and decorum
rules and should help to deter violations. This proposed rule change
also makes clear that fines can be imposed against the Exchange's
members, member organizations, participants, participant organizations
and their associated persons for violations of the Exchange's rules.
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78f(b)(6).
---------------------------------------------------------------------------

IV. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\12\ that the proposed rule change, as amended, is approved.
---------------------------------------------------------------------------

    \12\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\13\
---------------------------------------------------------------------------

    \13\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-10872 Filed 6-5-07; 8:45 am]

BILLING CODE 8010-01-P


[Federal Register Volume 79, Number 85 (Friday, May 2, 2014)]
[Notices]
[Pages 25154-25155]
[FR Doc No: 2014-10103]

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

DEPARTMENT OF LABOR

Occupational Safety and Health Administration

[Docket No. OSHA-H022k-2006-0062]

Preparations for the 27th Session of the UN Sub-Committee of
Experts on the Globally Harmonized System of Classification and
Labelling of Chemicals (UNSCEGHS)

AGENCY: Occupational Safety and Health Administration (OSHA),
Department of Labor.

ACTION: Notice of public meeting.

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

SUMMARY: This notice is to advise interested persons that on Wednesday,
June 11, 2014, OSHA will conduct a public meeting to discuss proposals
in preparation for the 27th session of the United Nations Sub-Committee
of Experts on the Globally Harmonized System of Classification and
Labelling of Chemicals (UNSCEGHS) to be held July 2 to 4, 2014 in
Geneva, Switzerland. OSHA, along with the U.S. Interagency GHS
(Globally Harmonized System of Classification and Labelling of
Chemicals) Coordinating Group, plans to consider the comments and
information gathered at this public meeting when developing the U.S.
Government positions for the UNSCEGHS meeting.
    Also, on Wednesday, June 11, 2014, the Department of Transportation
(DOT), Pipeline and Hazardous Materials Safety Administration (PHMSA)
will conduct a public meeting (See Docket No. PHMSA-2014-0033) to
discuss proposals in preparation for the 45th session of the United
Nations Sub-Committee of Experts on the Transport of Dangerous Goods
(UNSCOE TDG) to be held June 23 to July 2, 2014, in Geneva,
Switzerland.

DATES: Wednesday, June 11, 2014.

ADDRESSES: Both meetings will be held at the DOT Headquarters
Conference Center, West Building, 1200 New Jersey Avenue SE.,
Washington, DC 20590.
    Time and Location:
    PHMSA public meeting: 8:30 a.m. to 11:30 a.m. EDT, Oklahoma Room.
    OSHA public meeting: 1:00 p.m. to 4:00 p.m. EDT, Conference Room 3.

    Registration: It is requested that attendees pre-register for these
meetings by completing the form at: https://www.surveymonkey.com/s/PNCPBQD. Attendees may use the form to pre-register for the OSHA
meeting, the PHMSA meeting, or both meetings. Failure to pre-register
may delay your access to the DOT building. Participants attending in
person are encouraged to arrive early to allow time for security checks
necessary to obtain access to the building.
    Conference call-in and ``live meeting'' capability will be provided
for both meetings. Specific information on call-in and live meeting
access will be posted when available at:

http://www.osha.gov/dsg/hazcom/ and at:
http://www.phmsa.dot.gov/hazmat/regs/international.

FOR FURTHER INFORMATION CONTACT: Maureen Ruskin, Office of Chemical
Hazards-Metals, OSHA Directorate of Standards and Guidance, Department
of Labor, Washington DC 20210: telephone:<PHONE_NUMBER>, email:
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:
    The OSHA Meeting: OSHA is hosting an open informal public meeting
of the U.S. Interagency GHS Coordinating Group to provide interested
groups and individuals with an update on GHS-related issues and an
opportunity to express their views orally and in writing for
consideration in developing U.S. Government positions for the upcoming
UNSCEGHS meeting. Interested stakeholders may also provide input on
issues related to OSHA's activities in the U.S.--Canada Regulatory
Cooperation Council (RCC) at the meeting.
    General topics on the agenda include:

 Review of Working papers
 Correspondence Group updates
 Regulatory Cooperation Council (RCC) Update

    Information on the work of the UNSCEGHS including meeting agendas,
reports, and documents from previous sessions, can be found on the
United Nations Economic Commission for Europe (UNECE) Transport
Division Web site located at the following web address: http://www.unece.org/trans/welcome.html. The UNSCEGHS bases its decisions on
Working Papers. The Working Papers for the 27th session of the UNSCEGHS
are located at http://www.unece.org/trans/main/dgdb/dgsubc4/c42014.html. Informal Papers submitted to the UNSCEGHS provide
information for the subcommittee and are used either as a mechanism to
provide information to the subcommittee or as the basis for future
Working Papers. Informal Papers for the 27th session of the UNSCEGHS
are located at http://www.unece.org/trans/main/dgdb/dgsubc4/c4inf27.html.
    The PHMSA Meeting: The Federal Register notice and additional
detailed information relating to PHMSA's public meeting will be
available upon publication at http://www.regulations.gov (Docket No.
PHMSA-2014-0033) and on the PHMSA Web site at: http://www.phmsa.dot.gov/hazmat/regs/international.

Authority and Signature

    This document was prepared under the direction of David Michaels,
Ph.D., MPH, Assistant Secretary of Labor for Occupational Safety and
Health, U.S. Department of Labor, under the authorization granted by
the Secretary's Order 1-2012 (77 FR 3912, Jan. 25, 2012).

    Signed at Washington, DC, on April 29, 2014.
David Michaels,
Assistant Secretary of Labor for Occupational Safety and Health.
[FR Doc. 2014-10103 Filed 5-1-14; 8:45 am]
BILLING CODE 4510-26-P


[Federal Register Volume 83, Number 117 (Monday, June 18, 2018)]
[Notices]
[Pages 28300-28302]
[FR Doc No: 2018-12926]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83410; File No. SR-NYSEArca-2018-42]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Amend the NYSE
Arca Equities Fees and Charges To Extend the Effectiveness of the
Decommission Extension Fee Until September 2018

June 12, 2018.
    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 1, 2018, 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, 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 the
Substance of the Proposed Rule Change

    The Exchange proposes to amend the NYSE Arca Equities Fees and
Charges (the ``Fee Schedule'') to extend the effectiveness of the
Decommission Extension Fee until September 2018. The proposed rule
change is available on the Exchange's website 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
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange currently charges a Decommission Extension Fee that
applies to ETP Holders for the use of certain ports used to connect to
NYSE Arca.\4\ The Decommission Extension Fee was adopted for a three-
month period from March 2018 through May 2018 (the ``extension
period'') at a rate of $2,450 per port per month. The Exchange proposes
to amend the Fee Schedule to extend the effectiveness of the
Decommission Extension Fee for an additional four months, until
September 2018. The Exchange also proposes to charge incrementally
higher fees for each of the additional months before use of ports
subject to the proposed fee is decommissioned. The Exchange proposes to
make the fee change effective June 1, 2018.
---------------------------------------------------------------------------

    \4\ See Securities Exchange Act Release No. 81901 (October 19,
2017), 82 FR 49426 (October 25, 2017) (SR-NYSEArca-2017-121).
---------------------------------------------------------------------------

    ETP Holders enter orders and instructions by using communication
protocols that map to the order types and modifiers described in
Exchange rules. The Exchange currently makes ports available that
provide connectivity to the Exchange's trading systems (i.e., ports for
the entry of orders and/or quotes (``order/quote entry ports'')) using
Pillar phase I protocols (``phase I ports'') and Pillar phase II
protocols (``phase II ports'') and charges $550 per port per month.\5\
Phase II ports are part of the Exchange's efforts to upgrade its
connectivity. Phase I ports are legacy connections used by ETP Holders
to communicate with the Exchange. The Exchange also currently makes
ports available for drop copies and charges $550 per port per month.\6\
---------------------------------------------------------------------------

    \5\ Port fees are not applicable to ports used for the
Exchange's Risk Management Gateway service. Further, no fee applies
to ports in the backup datacenter that are not utilized during the
relevant month. No fee applies to ports in the backup datacenter
that are utilized when the primary datacenter is unavailable.
However, if a port in the backup datacenter is utilized when the
primary datacenter is available, then the fee would apply.
    \6\ No fee applies to ports in the backup datacenter if
configured such that it is duplicative of another drop copy port of
the same user. Only one fee per drop copy port applies, even if the
port receives drop copies from multiple order/quote entry ports and/
or drop copies for activity on both NYSE Arca Equities and NYSE Arca
Options.
---------------------------------------------------------------------------

    On August 21, 2017, the Exchange notified ETP Holders to transition
all connections to the Exchange through the use of phase II ports by
the close of trading on February 28, 2018.\7\ Notwithstanding prior
notice to ETP Holders to migrate fully to phase II ports by the end of
February 2018, the Exchange determined to continue to make phase I
ports available through the end of May 2018 to allow ETP Holders
additional time to transition to phase II ports should an ETP Holder
choose to do so. ETP Holders that use phase I ports during the
extension period are currently subject to the Decommission Extension
Fee.
---------------------------------------------------------------------------

    \7\ See Trader Update at https://www.nyse.com/publicdocs/nyse/markets/nyse/Pillar_Update_NYSE_American_ARCA_NYSE_Tapes_B_and_C.pdf. On June 22,
2017, the Exchange provided ETP Holders with notice that the phase
II ports would be available on August 21, 2017. See Trader Update at
https://www.nyse.com/publicdocs/nyse/notifications/trader-update/Pillar_Phase_II_Update_Native_gateways_June_16_2017.pdf.
---------------------------------------------------------------------------

    The Decommission Extension Fee was adopted by the Exchange as an
incentive for ETP Holders to fully transition to the phase II ports
within an initial six-month transition period before the fee became
effective so the Exchange would not have to maintain and support both
phase I ports and phase II ports at the end of the transition period.
In addition, to the extent that ETP Holders did not fully transition to
phase II ports within the initial six-month transition period, the
Decommission Extension Fee was intended to cover the Exchange's costs
associated with continued support of phase I ports, including costs to
maintain servers and their physical location, monitoring order
activity, and other support, that are separate from the costs in
maintaining phase II ports. Because continued support for phase 1 ports
requires the Exchange to dedicate resources, the Exchange adopted the
Decommission Extension Fee for the use of such ports during the
extension period.
    The Exchange now proposes to expand the extension period until the
close of trading on September 28, 2018, the last trading day of the
month (the ``new extension period''). A small number of ETP Holders
have not transitioned to phase II ports and have informed the Exchange
of their need for additional time to do so. Therefore, during the new
extension period, ETP Holders that continue to connect to the Exchange
through phase I ports would be charged the Decommission Extension Fee,
as follows: $2,450 per port per month for the month of June 2018;
$2,950 per port per month for the month of July 2018; $3,450 per port
per month for the month of August 2018; and $3,950 per port per month
for the month of September 2018. The Decommission Extension Fee would
be charged in addition to the existing port fees currently set forth in
the Fee Schedule. The Exchange expects all ETP Holders to transition to
the use of phase II ports by the end of the new extension period and
that phase I ports would be fully decommissioned at that time.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\8\ in general, and furthers the
objectives of Sections 6(b)(4) of the Act,\9\ in particular, because it
provides for the equitable allocation of reasonable dues, fees, and
other charges among its members, issuers and other persons using its
facilities and does not unfairly discriminate between customers,
issuers, brokers or dealers. In particular, the proposed rule change,
including the adoption of graduated fees, is reasonable because it
proposes to make a reasonable accommodation by providing ETP Holders
additional time, at their request, to transition to phase II ports
while incentivizing such ETP Holders to transition to phase II ports to
avoid being charged the Decommission Extension Fee. Additionally, the
Exchange believes that the Decommission Extension Fee for ETP Holders
that choose to continue to connect to the Exchange through the use of
phase I ports though the new extension period, which is scheduled to
end at the close of trading on September 28, 2018, is equitable and not
unfairly discriminatory because the fee would continue to apply equally
to all ETP Holders that choose to connect to the Exchange through the
use of such ports during the new extension period. As noted above, the
Exchange would continue to incur ongoing costs in maintaining phase I
ports during the new extension period, including costs to maintain
servers and their physical location, monitoring order activity, and
other support, with no real benefit. Due to the fixed costs incurred by
the Exchange to support phase I ports during the new extension period,
the Exchange believes that it is fair and reasonable to charge
increased fees to cover the costs of such support during the new
extension period because of the small number of ETP Holders that have
not transitioned to phase II ports.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78f(b).
    \9\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

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

    In accordance with Section 6(b)(8) of the Act,\10\ the Exchange
does not believe that the proposed rule change will impose any burden
on intermarket or intramarket competition that is not necessary or
appropriate in furtherance

of the purposes of the Act in that it is simply designed to set forth
the Exchange's continued assessment of a fee during the new extension
period to provide an incentive to ETP Holders to transition to phase II
ports. The Exchange believes that fees for connectivity are constrained
by the robust competition for order flow among exchanges and non-
exchange markets. Further, excessive fees for connectivity, including
port fees, would serve to impair an exchange's ability to compete for
order flow rather than burdening competition. The Exchange also does
not believe the proposed rule change would impact intramarket
competition as it would apply to all ETP Holders equally that connect
to the Exchange through the use of such ports.
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78f(b)(8).
---------------------------------------------------------------------------

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) \11\ of the Act and subparagraph (f)(2) of Rule
19b-4 \12\ thereunder, because it establishes a due, fee, or other
charge imposed by the Exchange.
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78s(b)(3)(A).
    \12\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of such 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 under
Section 19(b)(2)(B) \13\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
---------------------------------------------------------------------------

    \13\ 15 U.S.C. 78s(b)(2)(B).
---------------------------------------------------------------------------

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include
File Number SR-NYSEArca-2018-42 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-2018-42. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549 on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of 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. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-NYSEArca-2018-42, and should be
submitted on or before July 9, 2018.

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

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

Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-12926 Filed 6-15-18; 8:45 am]
 BILLING CODE 8011-01-P


RENEWAL OF INFORMATION COLLECTION REQUEST FOR THE EPISODIC RELEASES OF
OIL AND HAZARDOUS SUBSTANCES

  TOC \o "1-3" \h \z \u    HYPERLINK \l "_Toc261866338"  1.
IDENTIFICATION OF THE INFORMATION COLLECTION	  PAGEREF _Toc261866338 \h
3

  HYPERLINK \l "_Toc261866339"  1a.	Title of the Information Collection
 PAGEREF _Toc261866339 \h  3

  HYPERLINK \l "_Toc261866340"  1b.	Short Characterization/Abstract
PAGEREF _Toc261866340 \h  3

  HYPERLINK \l "_Toc261866341"  2.	NEED FOR AND USE OF THE COLLECTION
PAGEREF _Toc261866341 \h  4

  HYPERLINK \l "_Toc261866342"  2a.	Need and Authority for the
Collection	  PAGEREF _Toc261866342 \h  4

  HYPERLINK \l "_Toc261866343"  2b.	Practical Utility and Users of the
Data	  PAGEREF _Toc261866343 \h  5

  HYPERLINK \l "_Toc261866344"  3.	NON DUPLICATION, CONSULTATIONS, AND
OTHER COLLECTION CRITERIA	  PAGEREF _Toc261866344 \h  5

  HYPERLINK \l "_Toc261866345"  3a.	Non Duplication	  PAGEREF
_Toc261866345 \h  5

  HYPERLINK \l "_Toc261866346"  3b.	Public Notice Required Prior to ICR
Submission to OMB	  PAGEREF _Toc261866346 \h  7

  HYPERLINK \l "_Toc261866347"  3c.	Consultations	  PAGEREF
_Toc261866347 \h  7

  HYPERLINK \l "_Toc261866348"  3d.	Effects of Less Frequent Collection
 PAGEREF _Toc261866348 \h  7

  HYPERLINK \l "_Toc261866349"  3e.	General Guidelines	  PAGEREF
_Toc261866349 \h  7

  HYPERLINK \l "_Toc261866350"  3f.	Confidentiality	  PAGEREF
_Toc261866350 \h  7

  HYPERLINK \l "_Toc261866351"  3g.	Sensitive Questions	  PAGEREF
_Toc261866351 \h  7

  HYPERLINK \l "_Toc261866352"  4.	THE RESPONDENTS AND THE INFORMATION
REQUESTED	  PAGEREF _Toc261866352 \h  8

  HYPERLINK \l "_Toc261866353"  4a.	Respondents and SIC Codes	  PAGEREF
_Toc261866353 \h  8

  HYPERLINK \l "_Toc261866354"  4b.	Information Requested	  PAGEREF
_Toc261866354 \h  8

  HYPERLINK \l "_Toc261866355"  i.	Data items, including record keeping
requirements	  PAGEREF _Toc261866355 \h  8

  HYPERLINK \l "_Toc261866356"  ii.	Respondent Activities	  PAGEREF
_Toc261866356 \h  9

  HYPERLINK \l "_Toc261866357"  5.	THE INFORMATION COLLECTED – AGENCY
ACTIVITIES, COLLECTION METHODOLOGY, AND INFORMATION MANAGEMENT	  PAGEREF
_Toc261866357 \h  9

  HYPERLINK \l "_Toc261866358"  5a.	Agency Activities	  PAGEREF
_Toc261866358 \h  9

  HYPERLINK \l "_Toc261866359"  5b.	Collection Methodology and
Management	  PAGEREF _Toc261866359 \h  10

  HYPERLINK \l "_Toc261866360"  5c.	Small Entity Flexibility	  PAGEREF
_Toc261866360 \h  10

  HYPERLINK \l "_Toc261866361"  5d.	Collection Schedule	  PAGEREF
_Toc261866361 \h  10

  HYPERLINK \l "_Toc261866362"  6.	ESTIMATING THE BURDEN AND COST OF THE
COLLECTION	  PAGEREF _Toc261866362 \h  11

  HYPERLINK \l "_Toc261866363"  6a.	Estimating Respondent Burden
PAGEREF _Toc261866363 \h  11

  HYPERLINK \l "_Toc261866364"  6b.	Estimating Respondent Costs
PAGEREF _Toc261866364 \h  12

  HYPERLINK \l "_Toc261866365"  i.	Estimating Labor Costs	  PAGEREF
_Toc261866365 \h  12

  HYPERLINK \l "_Toc261866366"  ii.	Estimating Capital and Operations
and Maintenance Costs	  PAGEREF _Toc261866366 \h  13

  HYPERLINK \l "_Toc261866367"  6c.	Estimating Agency Burden and Cost
PAGEREF _Toc261866367 \h  13

  HYPERLINK \l "_Toc261866368"  6d.	Estimating the Respondent Universe
and Total Burden and Cost	  PAGEREF _Toc261866368 \h  14

  HYPERLINK \l "_Toc261866369"  6e.	Bottom Line Burden Hours and Cost
Tables	  PAGEREF _Toc261866369 \h  15

  HYPERLINK \l "_Toc261866370"  6f.	Reasons for Change in Burden
PAGEREF _Toc261866370 \h  15

  HYPERLINK \l "_Toc261866371"  6g.	Burden Statement	  PAGEREF
_Toc261866371 \h  16

IDENTIFICATION OF THE INFORMATION COLLECTION

Title of the Information Collection

Notification of Episodic Releases of Oil and Hazardous Substances - EPA
No. 1049.13.

Short Characterization/Abstract

This information collection request (ICR) addresses the reporting and
recordkeeping activities required to comply with the release
notification requirements for hazardous substances and oil specified in
section 103(a) of the Comprehensive Environmental Response,
Compensation, and Liability Act of 1980 (CERCLA), as amended, and
section 311 of the Clean Water Act (CWA), as amended. These reporting
requirements are codified at 40 CFR parts 110, 117, and 302. This ICR
renews the collection activity previously approved under OMB No.
2050-0046 and applies to the period April 1, 2014 through March 31,
2017. Estimates of the burden placed on industry and the government to
comply with the release notification requirements are presented on an
annual basis.

CERCLA section 103(a) and CWA section 311 require the person in charge
of a facility or vessel to immediately notify the National Response
Center (NRC) of a hazardous substance release into the environment if
the release quantity equals or exceeds the substance’s reportable
quantity (RQ) level and an oil discharge into U.S. waters. The regulated
community is expected to:

•	Gather necessary release data, such as the time, quantity, and
source of the release;

•	Notify the facility manager of the release;

•	Consult with the environmental compliance expert regarding the
release;

•	Report the release to the NRC; and

•	Keep a log of release data such as the time, date, and circumstances
of the release. (This information is expected, but not required under
the regulations.)

There are no recordkeeping requirements specified under CERCLA section
103(a), CWA section 311, or their implementing regulations. The person
in charge of the facility or vessel, however, may elect to maintain a
log detailing the time, date, and circumstances associated with the
reported release. The purpose of maintaining a log of reported releases
is to track correspondence with response authorities and to document
compliance with release notification requirements under CERCLA and the
CWA. Because it is assumed the respondent will maintain a log of
reported releases, burden and cost estimates associated with
recordkeeping are included in the ICR.

 .

NEED FOR AND USE OF THE COLLECTION

Need and Authority for the Collection

The reporting activity required under 40 CFR parts 110, 117, and 302 is
authorized under CERCLA sections 103(a) and 104(e), and CWA sections 311
and 308. The regulations implementing CERCLA section 103(a) (40 CFR part
302) require the person in charge of a facility or vessel to immediately
notify the NRC of a hazardous substance release if the release quantity
equals or exceeds the substance’s RQ. The specific information
provided in the notification required under CERCLA section 103(a) is
authorized under CERCLA section 104(e). Section 104(e) authorizes the
collection of release information, entry and inspection of the release
site, and sampling activities at the release site for the purposes of
“determining the need for response, or choosing or taking any response
action under [CERCLA].” The release information collected is the
minimum information needed to determine if a Federal response action is
required to control or mitigate any potential adverse effects associated
with a release.

In addition to the CERCLA notification requirements, the regulations
implementing CWA section 311 (40 CFR part 110) require immediate
notification to the NRC of any release of oil into U.S. navigable waters
that causes a sheen, violates applicable water quality standards, or
causes a sludge or emulsion to be deposited beneath the surface of the
water or upon adjoining shorelines. The information required to be
provided under CWA section 311 is authorized by CWA section 308, which
allows for the collection of release information and entry, monitoring,
inspection and sampling activities at the release site for the purpose
of ensuring that the objectives of the CWA are satisfied. The Federal
government needs to be notified of releases of oil in order to determine
if a response action is necessary to mitigate or prevent damage to
public health or welfare or the environment.

Practical Utility and Users of the Data

The hazardous substance and oil release information collected pursuant
to CERCLA section 103(a) and CWA section 311 has a variety of different
uses. Federal response authorities, such as EPA and United States Coast
Guard On-Scene Coordinators (OSCs), use the information to evaluate the
environmental and human health risks attributable to a reported release
and to determine if a Federal response action is necessary to mitigate
or prevent any adverse effects associated with the release. Any
reportable hazardous substance release or discharge of oil into the
environment warrants a timely evaluation of its source, emission rate,
chemical form, media affected, and quantity released to ensure the
proper protection of public health and welfare and the environment.
Responses to hazardous substance and oil release notifications by
Federal authorities may take a variety of forms, including monitoring
and overseeing cleanup activities conducted by the responsible party,
evacuating surrounding populations, and directing the actual cleanup
operation.

The hazardous substance and oil release information collected under
CERCLA section 103 and CWA section 311 also is used by EPA program
offices and other Federal agencies to evaluate the potential need for
additional regulations, new permitting requirements for specific
substances or sources, or for improved emergency response planning.

In addition, release notification information, which is stored in the
national Emergency Response Notification System (ERNS) data base, is
used by state and local government authorities, the regulated community,
and the general public. State and local government authorities and the
regulated community use release information to help inform local
emergency response planning. The public use release information to
become aware of the releases that have occurred in their communities and
throughout the nation and to learn of actions, if any, that are being
taken to protect public health and welfare and the environment. The
public has access to release information, statistics, and fact sheets
through the Freedom of Information Act and the NRC’s website (
HYPERLINK "http://www.nrc.uscg.mil/nrchp.html"
http://www.nrc.uscg.mil/nrchp.html ).

NON DUPLICATION, CONSULTATIONS, AND OTHER COLLECTION CRITERIA

Non Duplication

The information required to be provided in the telephone call to the NRC
is the minimum information necessary to evaluate a hazardous substance
release or discharge of oil. Direct notification to the NRC, as opposed
to notification to multiple Federal response authorities, helps to
ensure a coordinated Federal response effort and that unnecessary delays
in requesting assistance do not occur. One call to the NRC fulfills the
requirement to report releases of hazardous substances under CERCLA and
several other regulatory programs, including the CWA, the Resource
Conservation and Recovery Act, and the Hazardous Materials
Transportation Act. When the NRC receives a notification, the NRC watch
stander immediately notifies the appropriate Federal OSC, who evaluates
the circumstances surrounding the release and determines the need for a
government response action. The Federal government has extensive
resources, expertise, and authority under CERCLA to formulate response
actions, ensuring a timely and coordinated field response with State,
local, and private organizations, if needed.

EPA analyzed possible areas of overlap with other regulations, and
concluded that there are limited areas of overlap with reporting
requirements under other statutes and provisions. For example, there may
be limited duplication with the reporting requirements specified in
CERCLA section 103(a) and in certain permitting regulations. Permitting
regulations often require reports if the permit level is exceeded. Thus,
if a release of a hazardous substance exceeds its permit level and the
substance’s RQ, the release must be reported to both, the applicable
Federal or state permitting authority, and NRC. However, the purpose and
timing of the two reports often differ. Violations of permit regulations
are reported to EPA Regional permitting offices or to state permitting
authorities in order to maintain proper permit enforcement records or to
evaluate ambient conditions over time. In contrast, Federal officials
use release information provided to the NRC to evaluate the release
situation and determine if a government response is necessary. Thus, the
notification in monthly monitoring reports that a permit is exceeded is
not timely for response purposes.

In addition to a possible overlap between CERCLA reporting and certain
permitting regulations, there may be some overlap with respect to the
reporting requirements specified in section 304 of the Emergency
Planning and Community Right-to-Know Act (EPCRA), which requires
immediate reporting of releases of CERCLA hazardous substances equal to
or above an RQ to state and local response officials. Reporting to the
NRC as well as to the appropriate State Emergency Response Commission
(SERC) and Local Emergency Planning Committee (LEPC), as required under
EPCRA section 304, is appropriate; however, because it ensures that the
Federal government is alerted to releases that may require a Federal
field response. Although the SERCs and LEPCs are notified of the
releases under EPCRA section 304, some SERCs and LEPCs may not possess
the resources necessary for a proper response action. Notification to
the NRC allows for a timely response in the event of an emergency.
Furthermore, reporting to the NRC, SERC, and LEPC provides for a
coordinated effort among Federal, state, and local response officials,
which helps ensure that an efficient response action is taken. When
Congress enacted EPCRA section 304, it was aware that releases of
hazardous substances were already reported to the NRC; Congress
determined that it was necessary and appropriate for such potentially
hazardous releases to be reported immediately to all potentially
affected government jurisdictions. The requirements under EPCRA,
however, are separate from those under CERCLA, and are outside the scope
of this ICR (1049.13). The statutory requirements under CERCLA and EPCRA
are clear and distinct; the Federal response system, as well as the
state and local response systems, must be immediately alerted to
potentially dangerous releases of hazardous substances that may pose a
threat to public health or welfare or the environment.

Public Notice Required Prior to ICR Submission to OMB

In compliance with the Paperwork Reduction Act (44 U.S.C. 3501 et seq.),
EPA is requesting comment from the public through the Federal Register
notice on the renewal of this ICR (1049.13). The Docket ID No. for the
notice is EPA-HQ-SFUND-2013-0549, and can be accessed at   HYPERLINK
"http://www.regulations.gov"  www.regulations.gov .

Consultations

EPA consulted with a number of Federal and state government agencies in
the development of the information collection activities described in
this ICR (1049.13). Workgroups were used to develop all RQ adjustment
regulations as well as the oil discharge regulation. These Workgroups
consisted of representatives from various EPA program offices, the ten
EPA Regions, and the NRC. Participation of these parties in the
Workgroups was sufficient to address and resolve all outstanding issues.
The comments received on the proposed rules were addressed in the
relevant Response to Comments Documents and in the preambles to the
respective final rules.

In addition to Workgroup activities, EPA sponsored many workshops and
training sessions throughout the country for industry and Federal,
state, and local government response officials on the release
notification requirements under CERCLA and the CWA. The workshops were
held to educate the regulated community as well as those Federal and
state agencies required to implement the regulations. In addition, the
workshops provided an opportunity for the public to ask questions about,
and comment on, the implementation of the reporting regulations under
CERCLA and the CWA.

Effects of Less Frequent Collection

The information required under the regulations implementing CERCLA
section 103(a) and CWA section 311 is not collected at any specified
frequency; rather, it is collected when reportable releases occur. The
information collected under the regulations, such as the source,
quantity, and type of material released and the environmental medium
affected, is critical to evaluating the threat posed by the release and
the need for a response action. The regulatory requirements evaluated in
this ICR (1049.13) represent EPA’s efforts to ensure that the NRC is
notified immediately of those hazardous substance and oil releases for
which a Federal response action may be necessary to protect public
health and welfare and the environment.

General Guidelines

The regulations implementing CERCLA section 103(a) and CWA section 311
adhere fully to OMB’s general guidelines concerning the collection of
information and the control of paperwork burdens on the public.

Confidentiality

The regulations implementing CERCLA section 103(a) and CWA section 311
do not require the submittal of any proprietary, trade secret, or other
confidential information.

Sensitive Questions

The regulations implementing CERCLA section 103(a) and CWA section 311
do not require the submission of any sensitive business information. In
addition, the information collection requested under these regulations
is in compliance with the Privacy Act of 1974 and OMB Circular A-108.

THE RESPONDENTS AND THE INFORMATION REQUESTED

Respondents and SIC Codes

This section is not applicable. The use and release of hazardous
substances and oil are pervasive throughout industry. EPA expects a
number of different industrial categories to report hazardous substance
and oil releases pursuant to the requirements specified in CERCLA
section 103(a) and CWA section 311. No one industry sector or group of
sectors or size of facility is affected disproportionately by the
information collection burden.

Information Requested

Data items, including record keeping requirements

Notification under CERCLA section 103(a) and CWA section 311 is intended
to ensure that Federal authorities receive prompt notification of
hazardous substance and oil releases for which a timely response may be
necessary to protect public health or welfare or the environment. The
information provided in the telephone call to the NRC serves to notify
government authorities of the release and provides them with a
description of the circumstances surrounding the release. The following
information is requested from all callers:

•	The name and location of the individual reporting the release, the
name and type of organization (e.g., general public, industrial
facility, or Federal, state, or local government) with which the
individual reporting the release is affiliated, and the telephone number
of the person reporting the release;

•	The name and location of the releaser, the type of organization
responsible for the release, and the telephone number of the releaser;

•	The location of the release;

•	The date and time of the release;

•	The name and type of material involved in the release, and the
quantity of the substance released;

•	The source of the release, the vehicle identification or carrier
number, if applicable, and a brief description of the source;

•	The environmental medium affected by the release (e.g., air, land,
water, or ground water);

•	The cause of the incident (e.g., transportation accident,
operational error, natural phenomenon), and a brief description of the
release scenario denoting any unusual circumstances associated with the
release;

•	Information on damages that occurred as a result of the release,
including the number of injuries, number of deaths, and any property
damage;

•	A description of the response actions taken at the release site, if
any;

•	The name(s) and type of organization(s) that the caller has already
notified; and

•	Any additional comments or information regarding the release.

As mentioned previously, there are no recordkeeping requirements
specified under CERCLA section 103(a), CWA section 311, or their
implementing regulations. The person in charge of the facility or
vessel, however, may elect to maintain a log detailing the time, date,
and circumstances associated with the reported release. The purpose of
maintaining a log of reported releases is to track correspondence with
response authorities and to document compliance with release
notification requirements under CERCLA and the CWA. Because the
respondent will in all likelihood maintain a reported release log,
burden and cost estimates associated with recordkeeping are included in
this ICR (1049.13).

Respondent Activities

To comply with the notification requirements specified in the
regulations implementing CERCLA section 103(a) and CWA section 311, the
regulated community is expected to perform the following activities:

•	Gather necessary release data, such as the time, quantity, and
source of the release;

•	Notify the facility manager of the release;

•	Consult with the environmental compliance expert regarding the
release;

•	Report the release by telephone to the NRC; and

•	Keep a log of release data such as the time, date, and circumstances
of the release. (This information is expected but not required under the
regulations.)

These five general steps have been verified through conversations with
environmental compliance experts at facilities that reported releases of
hazardous substances to the NRC during 1992, 1993, and 1994. Each
environmental compliance manager at these facilities was asked about the
internal activities that are likely to occur between the time a release
of a hazardous substance is discovered and the time a call is made to
the NRC. The burden hours associated with reporting a release were in
part based upon these findings.

THE INFORMATION COLLECTED – AGENCY ACTIVITIES, COLLECTION METHODOLOGY,
AND INFORMATION MANAGEMENT

Agency Activities

Every hazardous substance and oil release reported by the regulated
community to the NRC must be evaluated by Federal authorities. The
appropriate Federal On-Scene Coordinator (OSC) is notified of a release
by a telephone call from the NRC. The NRC conveys all the relevant
information regarding the release to the OSC, including whether the
release is to air, soil, water, etc., the source of the release, and the
type of substance released. The telephone call from the NRC to the OSC
must occur within 15 minutes of the original release notification. The
OSC is responsible for evaluating the circumstances surrounding the
release to determine whether government monitoring and/or a Federal
response action may be necessary.

NRC personnel are also responsible for entering release information into
the NRC data base. The release data are stored in the NRC data base,
ERNS, a national data base that stores release information by facility.
The data can be accessed through the NRC web site:  HYPERLINK
"http://www.nrc.uscg.mil/foia.html" http://www.nrc.uscg.mil/foia.html.
The primary activity of the Federal government under the regulations
implementing CERCLA section 103(a) and CWA section 311 is processing and
recording the reported release information, and responding to releases
that may pose a significant hazard to public health or welfare or the
environment.

Collection Methodology and Management

For purposes of reporting releases under the regulations implementing
CERCLA section 103(a) and CWA section 311, a person in charge of a
facility or vessel that experiences a reportable release must telephone
the NRC. The NRC notifies the appropriate EPA Region or United States
Coast Guard Office, the affected state, and any other Federal agency
that may be able to lend support to a potential response action.

To manage the hazardous substance and oil release information submitted
in accordance with CERCLA section 103(a) and CWA section 311, EPA uses
the ERNS data base. When a hazardous substance or oil release is
reported to the NRC, it is immediately entered into the NRC data base.
The ERNS data base allows EPA to document, analyze, and maintain data
gathered under the CERCLA and CWA notification process.

For Federal response authorities, the ERNS data base reduces the cost
and time associated with processing and documenting release reports. For
other EPA program offices, state and local response officials, and the
public, ERNS provides for easy access to release data.

Small Entity Flexibility

The notification requirements apply equally to all facilities or
vessels, regardless of size, that have reportable releases of CERCLA
hazardous substances or oil. The regulations do not impose any general
information collection or recordkeeping requirements on small
businesses. EPA believes that the notification requirements specified
under these regulations represent the minimum level of information
necessary for Federal response officials to determine if a government
response action is needed to prevent or mitigate any damage to public
health or welfare or the environment. The regulatory requirements are
satisfied by a toll-free telephone call to the NRC. A reduction in these
reporting requirements for small businesses is not possible without
jeopardizing the Federal government’s ability to evaluate the threat
posed by a release and determine if a Federal response is necessary.

Collection Schedule

Information is not collected at any specified frequency; rather, it is
collected when reportable releases occur. Under CERCLA section 103(a), a
release of a hazardous substance is reportable when it equals or exceeds
its RQ. Pursuant to CWA section 311, a discharge of oil into navigable
waters is reportable whenever the discharge causes a sheen, violates
applicable water quality standards, or causes a sludge or emulsion to be
deposited beneath the surface of the water or upon adjoining shorelines.

ESTIMATING THE BURDEN AND COST OF THE COLLECTION

Estimating Respondent Burden

  release notifications per annum from April 1, 2014 through March 31,
2017.

  hours.

Initial Telephone Notification

 hour of technician’s time), regardless of the environmental medium
affected and the substance released.

Recordkeeping

  burden hours per release for recordkeeping.

Response Actions

Under section 103(a) of CERCLA and section 311 of CWA facilities and
vessels responsible for a release are required to take appropriate
action to clean up the release. However, because there is no paperwork
burden associated with these response actions, the capital and labor
costs associated with response actions are not within the scope of this
ICR (1049.13).

Estimating Respondent Costs

Estimating Labor Costs

  for clerical staff.

These rates reflect employer cost for employee compensation in the
United States as of March 2013 and include both employer costs for
legally required benefits (e.g., social security, worker’s
compensation, and unemployment insurance), other important fringe
benefit categories (e.g., insurance, paid leave, retirement and
savings), and overhead and general and administrative costs.

Estimating Capital and Operations and Maintenance Costs

Capital costs usually include any produced physical good needed to
provide the needed information, such as machinery, computers, and other
equipment. EPA does not anticipate that respondents will incur capital
costs in carrying out the information collection requirements of this
regulation.

Operation and Maintenance (O&M) costs are those costs associated with
paperwork requirements incurred continually over the life of the ICR.
EPA does not anticipate that respondents will incur O&M costs in
carrying out the information collection requirements of the proposed
rule.

Costs associated with the burden hours presented in section 6(a) of this
ICR (1049.13) are shown in Exhibit 2.

  to report the release to the NRC and record the release data in the
respondent’s log.

Estimating Agency Burden and Cost

 .

Processing Telephone Notification

 ).

Response Activities

For some percentage of releases, the information provided in the
telephone notification will prompt EPA to monitor cleanup activities.
Monitoring a cleanup will allow EPA to directly assess and evaluate the
circumstances surrounding the release, and the population and
environment potentially affected by the release. In a small percentage
of cases, the owner/operator will be unable to respond to the release or
cleanup activities will appear unsatisfactory, requiring EPA to conduct
its own field response actions to ensure that all potential hazards have
been addressed and that the release has been thoroughly cleaned up.
However, as these actions are not directly related to the processing of
submitted paperwork, the costs and burden hours associated with these
actions are not covered under this ICR (1049.13).

Estimating the Respondent Universe and Total Burden and Cost

ERNS data from 2010, 2011, and 2012 were used to estimate the number of
releases that will be reported to the NRC during the period of April 1,
2014 through March 31, 2017. The exhibits in this section show projected
annual release reports, burden hours, and costs.

The total cost and total burden estimates presented in this ICR
(1049.13) are the aggregate annual costs and burden hours associated
with reporting all hazardous substances and oil releases pursuant to
CERCLA section 103(a) and CWA section 311.

Annual respondent burden hours are equal to the number of releases
reported to the NRC in a year multiplied by the unit burden hours
associated with reporting a release. Annual cost is equal to the number
of releases reported to the NRC in a year multiplied by the unit cost of
reporting a release. Exhibit 4 presents the annual total annual burden
hour and cost estimates for respondents.

Bottom Line Burden Hours and Cost Tables

 .

Reasons for Change in Burden

  hours.

 . The decrease is due to a projected decrease in the number of
reportable releases.

Burden Statement

  hours per response. Burden means the total time, effort, or financial
resources expended by persons to generate, maintain, retain, or disclose
or provide information to or for a Federal agency. This includes the
time needed to review instructions; develop, acquire, install, and
utilize technology and systems for the purposes of collecting,
validating, and verifying information, processing and maintaining
information, and disclosing and providing information; adjust the
existing ways to comply with any previously applicable instructions and
requirements; train personnel to be able to respond to a collection of
information; search data sources; complete and review the collection of
information; and transmit or otherwise disclose the information. An
agency may not conduct or sponsor, and a person is not required to
respond to, a collection of information unless it displays a currently
valid OMB control number. The OMB control numbers for EPA’s
regulations are listed in 40 CFR part 9 and 48 CFR chapter 15.

To comment on the Agency’s need for this information, the accuracy of
the provided burden estimates, and any suggested methods for minimizing
respondent burden, including the use of automated collection techniques,
EPA has established a public docket for this ICR under Docket ID No.
EPA-HQ-SFUND-2013-0549, which is available for public viewing at the
Superfund Docket in the EPA Docket Center (EPA/DC), EPA West, Room 3334,
1301 Constitution Ave., NW, Washington, DC. The EPA/DC Public Reading
Room   SEQ CHAPTER \h \r 1 is open from 8 a.m. to 4:30 p.m., Monday
through Friday, excluding legal holidays. The telephone number for the
Reading Room is<PHONE_NUMBER>, and the telephone number for the Superfund
Docket is<PHONE_NUMBER>. An electronic version of the public docket is
available at   HYPERLINK "http://www.regulations.gov"
www.regulations.gov . Use   HYPERLINK "http://www.regulations.gov"
www.regulations.gov  to obtain a copy of the draft collection of
information, submit or view public comments, access the index listing of
the contents of the docket, and to access those documents in the public
docket that are available electronically. Once in the system, select
“search,” then key in the docket ID number identified above. Also,
you can send comments to the Office of Information and Regulatory
Affairs, Office of Management and Budget, 725 17th Street, NW,
Washington, DC 20503, Attention: Desk Office for EPA. Please include the
EPA Docket ID No. (EPA-HQ-SFUND-2013-0549) and the OMB control number
(2050-0046) in any correspondence.

 .

This verification was not repeated for this ICR. It is assumed to remain
the same.

 Bureau of Labor Statistics’ news release dated June 12, 2013,
entitled, “Employer Costs for Employee Compensation – March 2013”
listed hourly compensation (wages and salaries plus fringe benefits)
rates for civilian managerial, technical, and clerical workers.
Therefore the wage rates used in this ICR (1049.13) include salaries,
fringe benefits, overhead costs and general and administrative costs as
of March 2013.

 ) and the hourly monetary value of the representative employee’s
fringe benefits (assumed to be the basic hourly wage rate multiplied by
60 percent).

EPA-HQ-SFUND-2013-0549

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