[Federal Register Volume 79, Number 198 (Tuesday, October 14, 2014)]
[Notices]
[Pages 61638-61639]
[FR Doc No: 2014-24319]

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ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-OPA-2014-0445; FRL-9917-75-OEI]

Information Collection Request Submitted to OMB for Review and
Approval; Comment Request; Oil Pollution Act Facility Response Plans
(Renewal)

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice.

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SUMMARY: The Environmental Protection Agency has submitted an
information collection request (ICR), ``Oil Pollution Act Facility
Response Plans (Renewal)'' (EPA ICR No. 1630.12, OMB Control No. 2050-
0135) to the Office of Management and Budget (OMB) for review and
approval in accordance with the Paperwork Reduction Act (44 U.S.C. 3501
et seq.). This is a proposed extension of the ICR, which is currently
approved through October 31, 2014. Public comments were previously
requested via the Federal Register (79 FR 44768) on August 1, 2014
during a 60-day comment period. This notice allows for an additional 30
days for public comments. A fuller description of the ICR is given
below, including its estimated burden and cost to the public. 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.

DATES: Additional comments may be submitted on or before November 13,
2014.

ADDRESSES: Submit your comments, referencing Docket ID Number EPA-HQ-
OPA-2014-0445, to (1) EPA online using www.regulations.gov (our
preferred method<EMAIL_ADDRESS>or by mail to: EPA Docket
Center, Environmental Protection Agency, Mail Code 28221T, 1200
Pennsylvania Ave. NW., Washington, DC 20460, and (2) OMB via email to
<EMAIL_ADDRESS>Address comments to OMB Desk Officer for
EPA.
    EPA's policy is that all comments received will be included in the
public docket without change including any personal information
provided, unless the comment includes profanity, threats, information
claimed to be Confidential Business Information (CBI) or other
information whose disclosure is restricted by statute.

FOR FURTHER INFORMATION CONTACT:  J. Troy Swackhammer, Office of
Emergency Management, Mail Code 5104A, Environmental Protection Agency,
1200 Pennsylvania Ave. NW., Washington, DC 20460; telephone number:
202-564-1966; fax number:<PHONE_NUMBER>; email address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: Supporting documents, which explain in
detail the information that the EPA will be collecting, are available
in the public docket for this ICR. The docket can be viewed online at
www.regulations.gov or in person at the EPA Docket Center, WJC West,
Room 3334, 1301 Constitution Ave. NW., Washington, DC. The telephone
number for the Docket Center is<PHONE_NUMBER>. For additional
information about EPA's public docket, visit http://www.epa.gov/dockets.
    Abstract: The authority for EPA's facility response plan (FRP)
requirements is derived from section 311(j)(5) of the Clean Water Act,
as amended by the Oil Pollution Act of 1990. EPA's regulation is
codified at 40 CFR 112.20 and 112.21 and related appendices. All FRP
reporting and recordkeeping activities are mandatory. The purpose of an
FRP is to help an owner or operator identify the necessary resources to
respond to an oil spill in a timely manner. If implemented effectively,
the FRP will reduce the impact and severity of oil spills and may
prevent spills because of the identification of risks at the facility.
Although the owner or operator is the primary data user, EPA also uses
the data in certain situations to ensure that facilities comply with
the regulation and to help allocate response resources. State and local
governments may use the data, which are not generally available
elsewhere and can greatly assist local emergency preparedness planning
efforts. The EPA reviews all submitted FRPs and must approve FRPs for
those facilities whose discharges may cause significant and substantial
harm to the environment in order to ensure that facilities believed to
pose the highest risk have planned for adequate resources and
procedures to respond to a spill. (See 40 CFR 112.20(f)(3) for further
information about the criteria for significant and substantial harm.)
    Form Numbers: None.
    Respondents/affected entities: Private entities and States, local
or tribal governments.
    Respondent's obligation to respond: Mandatory under section
311(j)(5) of the Clean Water Act, as amended by the Oil Pollution Act
of 1990.
    Estimated number of respondents: 22,966 (total).
    Frequency of response: Once.
    Total estimated burden: 455,743 hours (per year). Burden is defined
at 5 CFR 1320.03(b)
    Total estimated cost: $17,630,700 (per year), includes $14,763
annualized capital or operation & maintenance costs.
    Changes in the Estimates: There is a decrease of 7,676 hours in the
total estimated respondent burden compared with the ICR currently
approved by OMB. This estimate is based on EPA's current inventory of
facilities that have submitted and are maintaining an FRP as per 40 CFR
part 112 versus the projected inventory for the prior ICR renewal.

Courtney Kerwin,
Acting Director, Collection Strategies Division.
[FR Doc. 2014-24319 Filed 10-10-14; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register Volume 79, Number 249 (Tuesday, December 30, 2014)]
[Notices]
[Pages 78425-78427]
[FR Doc No: 2014-30603]

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ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-OAR-2014-0743; FRL-9920-95-OAR]

Agency Information Collection Activities; Proposed Collection;
Comment Request; Protection of Stratospheric Ozone: Critical Use
Exemption From the Phaseout of Methyl Bromide (Renewal); EPA ICR No.
2031.07, OMB Control No. 2060-0482

AGENCY: Environmental Protection Agency.

ACTION: Notice.

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SUMMARY: In compliance with the Paperwork Reduction Act (PRA), this
document announces that the Environmental Protection Agency (EPA) is
planning to submit a request to renew an existing approved Information
Collection Request (ICR) to the Office of Management and Budget (OMB).
This ICR, 2031.06, is scheduled to expire on June 30, 2015. Before
submitting the ICR to OMB for review and approval, EPA is soliciting
comments on specific aspects of the proposed information collection as
described below.

DATES: Comments must be submitted on or before March 2, 2015.

ADDRESSES: Submit your comments, identified by Docket ID No. EPA-HQ-
OAR-2014-0743 by one of the following methods:
     www.regulations.gov: Follow the on-line instructions for
submitting comments.
     Email<EMAIL_ADDRESS>     Fax:<PHONE_NUMBER>.
     Mail: EPA-HQ-OAR-2014-0743, Environmental Protection
Agency, Mail Code: 6205T, 1200 Pennsylvania Ave. NW., Washington, DC
20460.

     Hand Delivery: EPA-HQ-OAR-2014-0743, Air and Radiation
Docket at EPA West, 1301 Constitution Avenue NW., Room B108, Mail Code
6102T, Washington, DC 20460. Such deliveries are only accepted during
the Docket's normal hours of operation, and special arrangements should
be made for deliveries of boxed information.
    Instructions: Direct your comments to Docket ID No. EPA-HQ-OAR-
2014-0743. EPA's policy is that all comments received will be included
in the public docket without change and may be made available online at
www.regulations.gov, including any personal information provided,
unless the comment includes information claimed to be Confidential
Business Information (CBI) or other information whose disclosure is
restricted by statute. Do not submit information that you consider to
be CBI or otherwise protected through www.regulations.gov or email. The
www.regulations.gov Web site is an ``anonymous access'' system, which
means EPA will not know your identity or contact information unless you
provide it in the body of your comment. If you send an email comment
directly to EPA without going through www.regulations.gov your email
address will be automatically captured and included as part of the
comment that is placed in the public docket and made available on the
Internet. If you submit an electronic comment, EPA recommends that you
include your name and other contact information in the body of your
comment and with any disk or CD-ROM you submit. If EPA cannot read your
comment due to technical difficulties and cannot contact you for
clarification, EPA may not be able to consider your comment. Electronic
files should avoid the use of special characters, any form of
encryption, and be free of any defects or viruses. For additional
information about EPA's public docket visit the EPA Docket Center
homepage at http://www.epa.gov/epahome/dockets.htm.

FOR FURTHER INFORMATION CONTACT: Jeremy Arling, Stratospheric
Protection Division, Office of Atmospheric Programs, (6205T),
Environmental Protection Agency, 1200 Pennsylvania Ave. NW.,
Washington, DC 20460; telephone number:<PHONE_NUMBER>; fax number:
(202) 343-2338; email address<EMAIL_ADDRESS>You may also
visit the Ozone Depletion Web site of EPA's Stratospheric Protection
Division at www.epa.gov/ozone/strathome.html for further information
about EPA's Stratospheric Ozone Protection regulations, the science of
ozone layer depletion, and related topics.

SUPPLEMENTARY INFORMATION:

How can I access the docket and/or submit comments?

    EPA has established a public docket for this ICR under Docket ID
No. EPA-HQ-OAR-2014-0743, which is available for online viewing at
www.regulations.gov, or in person viewing at the Air and Radiation
Docket in the EPA Docket Center (EPA/DC), EPA West, Room 3334, 1301
Constitution Ave. NW., Washington, DC. The EPA/DC Public Reading Room
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 202-566-
1744, and the telephone number for Air and Radiation Docket is 202-566-
1742.
    Use 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 in this
document.

What information is EPA particularly interested in?

    Pursuant to section 3506(c)(2)(A) of the PRA, EPA specifically
solicits comments and information to enable it to:
    (i) Evaluate whether the proposed collection of information is
necessary for the proper performance of the functions of the agency,
including whether the information will have practical utility;
    (ii) evaluate the accuracy of the agency's estimate of the burden
of the proposed collection of information, including the validity of
the methodology and assumptions used;
    (iii) enhance the quality, utility, and clarity of the information
to be collected; and
    (iv) minimize the burden of the collection of information on those
who are to respond, including through the use of appropriate automated
electronic, mechanical, or other technological collection techniques or
other forms of information technology, e.g., permitting electronic
submission of responses. In particular, EPA is requesting comments from
very small businesses (those that employ less than 25) on examples of
specific additional efforts that EPA could make to reduce the paperwork
burden for very small businesses affected by this collection.

What should I consider when I prepare my comments for EPA?

    You may find the following suggestions helpful for preparing your
comments:
    1. Explain your views as clearly as possible and provide specific
examples.
    2. Describe any assumptions that you used.
    3. Provide copies of technical information and/or data you used
that support your views.
    4. If you estimate potential burden or costs, explain how you
arrived at the estimate that you provide.
    5. Offer alternative ways to improve the collection activity.
    6. Make sure to submit your comments by the deadline identified
under DATES.
    7. To ensure proper receipt by EPA, be sure to identify the docket
ID number assigned to this action in the subject line on the first page
of your response. You may also provide the name, date, and Federal
Register citation.

What information collection activity or ICR does this apply to?

    Affected entities: Entities potentially affected by this action are
producers, importers, distributors, and custom applicators of methyl
bromide, organizations, consortia, and associations of methyl bromide
users, as well as individual methyl bromide users.
    Title: Agency Information Collection Activities; Proposed
Collection; Comment Request; Protection of Stratospheric Ozone:
Critical Use Exemption From the Phaseout of Methyl Bromide
(Applications, Recordkeeping, and Periodic Reporting) (Renewal).
    ICR numbers: EPA ICR No. 2031.07, OMB Control No. 2060-0482.
    ICR status: EPA ICR 2031.06 is currently scheduled to expire on
June 30, 2015. 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 in title 40 of the CFR, after appearing in the
Federal Register when approved, are listed in 40 CFR part 9, are
displayed either by publication in the Federal Register or by other
appropriate means, such as on the related collection instrument or
form, if applicable. The display of OMB control numbers in certain EPA
regulations is consolidated in 40 CFR part 9.
    Abstract: EPA is seeking to renew EPA ICR 2031.06 which allows EPA
to collect CUE applications from regulated entities on an annual basis,
and which

requires the submission of data from regulated industries to the EPA
and requires recordkeeping of key documents to ensure compliance with
the Montreal Protocol on Substances that Deplete the Ozone Layer
(Protocol) and the CAA.
    Entities applying for this exemption are asked to submit to EPA
applications with necessary data to evaluate the need for a critical
use exemption. This information collection is conducted to meet U.S.
obligations under Article 2H of the Montreal Protocol on Substances
that Deplete the Ozone Layer (Protocol). The information collection
request is required to obtain a benefit under Section 604(d)(6) of the
CAA, added by Section 764 of the 1999 Omnibus Consolidated and
Emergency Supplemental Appropriations Act (Public Law 105-277; October
21, 1998).
    Since 2002, entities have applied to EPA for a critical use
exemption that would allow for the continued production and import of
methyl bromide after the phaseout in January 2005. These exemptions are
for consumption only in those agricultural sectors that have
demonstrated that there are no technically or economically feasible
alternatives to methyl bromide. The applications are rigorously
assessed and analyzed by EPA staff, including experts from the Office
of Pesticide Programs. On an annual basis, EPA uses the data submitted
by end users to create a nomination of critical uses which the U.S.
Government submits to the Protocol's Ozone Secretariat for review by an
international panel of experts and advisory bodies. These advisory
bodies include the Methyl Bromide Technical Options Committee (MBTOC)
and the Technical and Economic Assessment Panel (TEAP). The uses
authorized internationally by the Parties to the Protocol are made
available in the U.S. on an annual basis.
    The applications will enable EPA to:
    1. Maintain consistency with the Protocol by supporting critical
use nominations to the Parties to the Protocol, in accordance with
paragraph 2 of Decision IX/6 of the Protocol;
    2. Ensure that critical use exemptions comply with section
604(d)(6);
    3. Provide EPA with necessary data to evaluate the technical and
economic feasibility of methyl bromide alternatives in the circumstance
of the specific use, as presented in an application for a critical use
exemption;
    The reported data will enable EPA to:
    1. Ensure that critical use exemptions comply with Section
604(d)(6);
    2. Maintain compliance with the Protocol requirements for annual
data submission on the production of ozone depleting substances;
    3. Analyze technical use data to ensure that exemptions are used in
accordance with requirements included in the annual authorization
rulemakings.
    EPA informs respondents that they may assert claims of business
confidentiality for any of the information they submit. Information
claimed confidential will be treated in accordance with the procedures
for handling information claimed as confidential under 40 CFR part 2,
subpart b, and will be disclosed only if EPA determines that the
information is not entitled to confidential treatment. If no claim of
confidentiality is asserted when the information is received by EPA, it
may be made available to the public without further notice to the
respondents (40 CFR 2.203). Individual reporting data may be claimed as
sensitive and will be treated as confidential information in accordance
with procedures outlined in 40 CFR part 2.
    Burden Statement: The annual public reporting and recordkeeping
burden for this collection of information is estimated to average 1.0
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 which have subsequently changed; 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.
    The annual application, reporting, and recordkeeping burden is as
follows: 15 applicants to the critical use exemption program at 570
hours per year; 4 producers and importers at a total of 88 hours per
year (quarterly reporting); 50 distributors and pesticide applicators
at 612 hours per year (annual reporting); and 1,000 end users at 325
hours per year (periodic certification of purchases of critical use
methyl bromide at the time of each purchase). The total industry burden
is therefore 1,595 hours per year.
    The annual public application burden for this collection of
information is estimated to average 38 hours per response (570 hours
divided by 15 responses). The annual public reporting and recordkeeping
burden for this collection of information is estimated to average 0.64
hours per response (1,025 hours divided by 1,614 responses). Overall,
the total annual public burden (application, reporting, and
recordkeeping) for this collection of information is estimated to
average 1.0 hours per response (1,595 hours divided by 1,629
responses).
    The total annual labor cost burden associated with information
collection request is $624,721. EPA estimates the costs as follows:
Application costs totaling $80,883 per year, recordkeeping and
reporting costs totaling $506,814 per year, and self-certification by
producers, importers, distributors, and end users costing $37,024 per
year. EPA estimates the capital costs to be $0.

Are there changes in the estimates from the last approval?

    There is a decrease of 1,663 hours in the total estimated
respondent burden compared with the burden currently approved by OMB.
The primary reason for the decrease in burden hours is a decrease in
the number of applicants and end users as well as distributors of
methyl bromide. The CUE Allocation rule for 2014/2015 removed minor
reporting and recordkeeping requirements related to critical stock
allowances. In addition, after December 31, 2014, when methyl bromide
is phased out in developing countries, certain reporting requirements
related to the production and export of methyl bromide to those
countries are no longer applicable.

What is the next step in the process for this ICR?

    EPA will consider the comments received and amend the ICR as
appropriate. The final ICR package will then be submitted to OMB for
review and approval pursuant to 5 CFR 1320.12. At that time, EPA will
issue another Federal Register notice pursuant to 5 CFR
1320.5(a)(1)(iv) to announce the submission of the ICR to OMB and the
opportunity to submit additional comments to OMB. If you have any
questions about this ICR or the approval process, please contact the
technical person listed under FOR FURTHER INFORMATION CONTACT.

    Dated: December 15, 2014.
Drusilla Hufford,
Director, Stratospheric Protection Division.
[FR Doc. 2014-30603 Filed 12-29-14; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register: May 23, 2007 (Volume 72, Number 99)]
[Notices]
[Page 29015-29019]
[DOCID:fr23my07-102]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-55776; File No. SR-Amex-2007-29]

Self-Regulatory Organizations; American Stock Exchange LLC; Order
Granting Accelerated Approval of a Proposed Rule Change, as Modified by
Amendment No. 1 Thereto, Relating to the Listing and Trading of Notes
Linked to the Performance of the Dow Jones-AIG Commodity Index Total
Return

May 17, 2007.

I. Introduction

    On March 2, 2007, the American Stock Exchange LLC (``Amex'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') a proposed rule change pursuant to Section 19(b)(1) of
the Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4
thereunder.\2\ On April 5, 2007, Amex filed Amendment No. 1 to the
proposed rule change. The proposed rule change, as amended, was
published for comment in the Federal Register on May 1, 2007 for a 15-
day comment period.\3\ The Commission received no comments on the
proposal. This order approves the proposed rule change, as modified by
Amendment No. 1, on an accelerated basis.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 55661 (April 24,
2007), 72 FR 23862 (``Notice'').
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II. Description of the Proposal

    Under Section 107A of the Amex Company Guide (``Company Guide''),
the Exchange may approve for listing and trading securities which
cannot be readily categorized under the listing criteria for common and
preferred stocks, bonds, debentures, or warrants, including index and
currency warrants. Amex proposes to list for trading under

Section 107A of the Company Guide floating rate notes (the ``Notes'')
linked to the performance of the Dow Jones-AIG Commodity Index Total
Return (the ``Index'').\4\
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    \4\ Lehman Brothers Holdings Inc. (``Lehman''), Dow Jones &
Company, Inc. (``Dow Jones'') and AIG International, Inc. (``AIGI'')
have entered into a non-exclusive license agreement providing for
the use of the Index by Lehman and certain affiliates and
subsidiaries thereof in connection with certain securities including
the Notes.
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    The Exchange states that the Notes will conform to the initial
listing guidelines under Section 107A of the Company Guide and the
continued listing guidelines under Sections 1001-1003 of the Company
Guide. The Notes are senior, non-convertible debt securities of Lehman,
have a term of thirteen months, and will provide for participation in
the positive performance of the Index during their term. The Notes are
cash-settled in United States (``U.S.'') dollars and do not give the
holder any right or other ownership interest in the Index or
commodities comprising the Index. The Notes are designed for investors
who desire to participate in, or gain exposure to, an index composed of
a basket of actively-traded commodities, receive monthly coupon
interest payments, and are willing to forego principal protection on
the Notes during their term. Lehman will issue the Notes in
denominations of whole units, with each unit representing a single
Note. The original public offering price will be $1,000 per Note.
    Unless the Notes have been redeemed earlier, at maturity, a holder
would receive per each $1,000 Note, a cash amount equal to the Daily
Value per $1,000 Note as of the Valuation Date\5\, plus accrued and
unpaid coupon payments, to, but excluding, the stated maturity date.
Lehman may redeem the Notes early if, on any Index Business Day prior
to the Valuation Date, the Daily Value per $1,000 Note falls below a
certain pre-determined amount. This day is known as the ``Early
Redemption Determination Date.'' This pre-determined amount will be
determined at the time of issuance of the Notes. In the event of
redemption, Lehman will pay an amount per $1,000 Note equal to the
Daily Value per $1,000 Note calculated as of the first Index Business
Day following the Early Redemption Determination Date, plus accrued and
unpaid coupon payments to, but excluding, the Early Redemption
Determination Date.
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    \5\ See Notice at 23862 (providing a detailed discussion of the
calculation methodology of the ``Daily Value'' per $1000 Note as of
the Valuation Date). Terms not otherwise defined herein shall have
the same meaning as the meaning given in the Notice, supra note 3.
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    If an event of default occurs and the maturity of the Notes are
accelerated, Lehman will pay holders an amount equal to the amount that
would have been payable at maturity, calculated as though the date of
acceleration was the stated maturity date, and the date three Index
Business Days before the date of acceleration was the Valuation Date.
If a bankruptcy proceeding is commenced, the claims of a holder of a
Note may be limited.

Index Description

    The Index, developed by AIGI, is a proprietary index that is
calculated by Dow Jones, AIGI, and AIG Financial Products Corp. (``AIG-
FP'' and, together with AIGI and Dow Jones, the ``Sponsors'') and
published by Dow Jones.\6\ The methodology for determining the
composition and weighting of the Index and for calculating its level is
subject to modification by the Sponsors at any time.\7\ Dow Jones
disseminates the Index level at least every 15 seconds from 8 a.m. to 3
p.m. Eastern Time (``ET''),\8\ and publishes a daily Index level at
approximately 4 p.m. ET on each DJ-AIG Business Day on its Web site at
http://www.djindexes.com and on Bloomberg's Web site.

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    \6\ AIG-FP is not a broker-dealer or futures commission
merchant; however, AIG-FP may have such affiliates. Therefore, AIG-
FP (1) maintains and agrees to continue to maintain procedures
reasonably designed to prevent the use and dissemination by relevant
employees of AIG-FP, in violation of applicable laws, rules and
regulations, of material non-public information relating to changes
in the composition or method of computation or calculation of the
Index or the Dow Jones-AIG Commodity Index and (2) agrees to
periodically check the application of such procedures as they relate
to personnel of AIG-FP responsible for such changes. Dow Jones has
informed the Exchange that it does not have any affiliates engaged
in the securities or commodities trading businesses and, as such,
does not believe that such firewall procedures are necessary in its
case. In addition, the Supervisory and Advisory Committees (as
defined herein) are subject to written policies that acknowledge
their obligations with respect to material non-public information.
    \7\ Lehman has informed the Exchange that Lehman is not
affiliated with any of the Sponsors. E-mail from Jeffrey P. Burns,
Associate General Counsel, Amex, to Edward Y. Cho, Special Counsel,
Division of Market Regulation, Commission, dated May 14, 2007.
    \8\ Any disseminated Index value after 3 p.m. ET is static due
to the close of auction trading of various commodities futures
contracts.
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    The Index is re-weighted and re-balanced each year in January on a
price-percentage basis. The annual weightings for the Index are
determined each year in June or July by AIG-FP under the supervision of
the Index Supervisory Committee,\9\ announced after approval by such
Committee and implemented the following January.
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    \9\ On February 21, 2007, Dow Jones announced a change to the
Dow Jones-AIG Commodity Index Oversight Committee structure
providing for a two-tier committee structure consisting of a
``Supervisory Committee'' and an ``Advisory Committee.'' The
Supervisory Committee makes all final decisions relating to the
Index with the advice and recommendation from the Advisory
Committee.
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    The Index is designed to track rolling futures positions in a
diversified basket of 19 exchange-traded futures contracts on physical
commodities. The 19 physical commodities selected for 2007 are
aluminum, coffee, copper, corn, cotton, crude oil, gold, heating oil,
lean hogs, live cattle, natural gas, nickel, silver, soybeans, soybean
oil, sugar, unleaded gasoline, wheat, and zinc. Unlike equities, which
typically entitle the holder to a continuing stake in a corporation,
commodity futures contracts normally specify a certain date for the
delivery of the underlying physical commodity. The Index tracks what is
known as a rolling futures position, which is a position where, on a
periodic basis, futures contracts on physical commodities specifying
delivery on a nearby date must be sold and futures contracts on
physical commodities that have not yet reached the delivery period must
be purchased. An investor with a rolling futures position is able to
avoid delivering underlying physical commodities while maintaining
exposure to those commodities. The rollover for each Index component
occurs over a period of five DJ-AIG Business Days each month according
to a pre-determined schedule.
    The 19 physical commodities selected for inclusion in the Index for
2007, and their respective weightings, are as follows:

------------------------------------------------------------------------
                                                             Weighting
                        Commodity                            (percent)
------------------------------------------------------------------------
Crude oil...............................................       12.723561
Natural gas.............................................       12.546191
Soybeans................................................        7.747790
Gold....................................................        6.825901
Aluminum................................................        6.803820
Copper..................................................        6.187758
Live cattle.............................................        6.141286
Corn....................................................        5.627129
Wheat...................................................        4.715495
Unleaded gasoline.......................................        3.940958
Heating oil.............................................        3.789289
Cotton..................................................        3.146094
Sugar...................................................        3.122271
Coffee..................................................        3.021718
Lean hogs...............................................        3.013524
Soybean oil.............................................        2.845646
Zinc....................................................        2.798069
Nickel..................................................        2.715318
Silver..................................................        2.288179
                                                         ---------------

    Total (rounded).....................................      100.000000
------------------------------------------------------------------------

    Futures contracts on the Index are currently listed for trading on
the Chicago Board of Trade (``CBOT''). The Index commodities currently
trade on U.S. exchanges, with the exception of aluminum, nickel and
zinc, which trade on the London Metal Exchange (``LME'').

Designated Contracts for Each Index Commodity

    A futures contract, known as a ``Designated Contract,'' is selected
by the Supervisory Committee for each Index commodity.\10\ With the
exception of several LME contracts, the Supervisory Committee selects
the futures contract that is traded in the U.S. and denominated in U.S.
dollars. If more than one of those contracts exists, the Supervisory
Committee will select the most actively traded contract. Data
concerning this Designated Contract will be used to calculate the Index
value. If a Designated Contract is terminated or replaced, a comparable
futures contract would be selected, if available, to replace that
Designated Contract.
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    \10\ The Supervisory Committee may exclude any otherwise
eligible contract from the Index if it determines that it has
inadequate liquidity. The Index currently includes contracts traded
on LME, which is located in London. During the hours when the LME is
closed, Dow Jones uses the last price and the settlement price once
they are available in order to publish the Index value through the
end of the trading day. The Index value does not reflect any after-
hours or overnight trading in contracts traded on LME.
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    The Designated Contracts for the Index commodities included in the
Index for 2007 are traded on LME, CBOT, the New York Board of Trade
(``NYBOT''),\11\ the Chicago Mercantile Exchange, Inc. (``CME''), and
the New York Mercantile Exchange (``NYMEX''). The particular
commodities futures exchanges for each commodity futures contract are
as follows: (1) Aluminum, nickel, and zinc--LME at http://www.lme.com; (2)

corn, soybeans, soybean oil, and wheat--CBOT at http://www.cbot.com; (3) live

cattle and lean hogs--CME at http://www.cme.com; (4) coffee, cotton, and

sugar--NYBOT at http://www.nybot.com; and (5) copper, crude oil, gold, heating

oil, natural gas, silver, and unleaded gasoline--NYMEX at
http://www.nymex.com. In addition, various market data vendors and financial

news publications publish futures prices and data. The Exchange
represents that futures quotes and last sale information for the
commodities underlying the Index are widely disseminated through a
variety of major market data vendors worldwide, including Bloomberg and
Reuters.
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    \11\ NYBOT recently was purchased by the Intercontinental
Exchange (``ICE'') and is now a regulated subsidiary of ICE.
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Determination of Relative Weightings

    The relative weightings of the component commodities included in
the Index are determined annually according to both liquidity and
dollar-adjusted production data in 2/3 and 1/3 shares, respectively.
Each June, for each commodity designated for potential inclusion in the
Index, liquidity is measured by the commodity liquidity percentage and
production by the commodity production percentage.\12\
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    \12\ See Notice at 23864 (providing a detailed discussion of how
the commodity liquidity percentage and the commodity production
percentage are determined and adjusted).
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    The Index is designed to provide diversified exposure to
commodities as an asset class. To ensure that no single commodity or
commodity sector dominates the Index, the following diversification
rules are applied to the annual re-weighting and re-balancing of the
Index as of January of the applicable year:
     No related group of commodities designated as a commodity
group (e.g., energy, precious metals, livestock, or grains) may
constitute more than 33% of the Index.
     No single commodity may constitute more than 15% of the
Index.
     No single commodity, together with its derivatives (e.g.,
crude oil, together with heating oil and unleaded gasoline), may
constitute more than 25% of the Index.
    Following the annual re-weighting and re-balancing of the Index in
January, the percentage of any single commodity or group of commodities
at any time prior to the next re-weighting or re-balancing will
fluctuate and may exceed or be less than the percentages set forth
above. The Index is then calculated by the Sponsors by applying the
impact of the changes to the futures prices of commodities included in
the Index (based on their relative weightings).\13\
---------------------------------------------------------------------------

    \13\ See id. (describing the mathematical process for the
calculation of the Index value).
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Index Calculation Disruption Events

    From time to time, disruptions can occur in trading futures
contracts on various commodity exchanges. The daily calculation of the
Index may be adjusted in the event that the Sponsors determine that any
of the following Index calculation disruption events exists:
     The termination or suspension of, or material limitation
or disruption in, the trading of any futures contract used in the
calculation of the Index on that day;
     The settlement price of any futures contract used in the
calculation of the Index reflects the maximum permitted price change
from the previous day's settlement price;
     The failure of an exchange to publish settlement prices
for any futures contract used in the calculation of the Index; or
     With respect to any futures contract used in the
calculation of the Index that trades on LME, a business day on which
LME is not open for trading.
    The Exchange submits that for a temporary disruption in the trading
of a futures contract, AIGI will typically use the prior day's price
for an Index commodity or commodities. In exceptional cases, AIGI may
employ a ``fair value'' price. However, the Exchange represents that if
the use of a prior day's price or ``fair value'' pricing for an Index
commodity or commodities continues for more than one day, the Exchange
will commence delisting the Notes.

Exchange Rules Applicable to the Notes

    Amex represents that the Notes will trade on the Exchange subject
to existing Amex trading rules applicable to the Notes including, among
others, rules governing priority, parity, and precedence of orders,
specialist responsibilities, account opening, and customer suitability
requirements. In addition, the Notes will be subject to the equity
margin rules of the Exchange.\14\
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    \14\ See Amex Rule 462.
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Criteria for Initial and Continued Listing

    The Exchange represents that it prohibits the initial and/or
continued listing of any security that is not in compliance with Rule
10A-3 under the Act.\15\ The Exchange further represents that the Notes
will meet the listing requirements set forth in Section 107A of the
Company Guide as well as the continued listing requirements set forth
in Sections 1001 through 1003 of the Company Guide. The Exchange also
has a general policy that prohibits the distribution of material, non-
public information by its employees.
---------------------------------------------------------------------------

    \15\ See 17 CFR 240.10A-3(c)(1).
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Trading Halts

    The Exchange states that it will halt trading in the Notes if the
circuit breaker parameters of Amex Rule 117 have been reached. In
exercising its discretion to halt or suspend trading in

the Notes, the Exchange may consider factors such as those set forth in
Amex Rule 918C(b), in addition to other factors that may be relevant.
In particular, if the Index value is not being disseminated as
required, the Exchange may halt trading during the day in which the
interruption to the dissemination of the Index value occurs. If the
interruption to the dissemination of the Index value persists past the
trading day on which it occurred, the Exchange will halt trading no
later than the beginning of the trading day following the interruption.

Surveillance

    The Exchange represents that its surveillance procedures are
adequate to properly monitor the trading of the Notes. Specifically,
Amex will rely on its existing surveillance procedures governing index-
linked securities which are similar to its surveillance procedures
governing exchange-traded funds and trust-issued receipts. With regard
to the Index components, the Exchange currently has in place a
comprehensive surveillance sharing arrangement with ICE, LME, and
NYMEX, for the purpose of providing information in connection with
trading in or related to futures contracts comprising the Index and
traded on their respective exchanges. The Exchange also notes that
CBOT, CME, and NYBOT are members of the Intermarket Surveillance Group
(``ISG''). As a result, the Exchange asserts that it can obtain all
necessary market surveillance information, including customer identity
information, from CBOT, CME, ICE, LME, NYBOT, and NYMEX, if necessary,
due to regulatory concerns that may arise in connection with the
commodity futures contracts underlying the Index.

Information Circular

    The Exchange will, prior to trading the Notes, distribute an
Information Circular to its membership providing guidance with regard
to member firm compliance responsibilities (including suitability
recommendations) \16\ when handling transactions in the Notes and
highlighting the special risks and characteristics of the Notes. In
addition, the Circular will identify and disclose the applicable
trading rules governing the trading of the Notes on the Exchange and
that Lehman will deliver a prospectus in connection with the initial
sales of the Notes and will reference that the Commission has no
jurisdiction over the trading of the physical commodities or the
futures contracts or on the commodities upon which the value of the
Notes is based. The Exchange submits that it recently received approval
to list and trade notes linked to the performance of the Dow Jones-AIG
ExEnergy Sub-Index, which is a subset of the Index.\17\
---------------------------------------------------------------------------

    \16\ With respect to suitability recommendations and risks, the
Exchange will require members, member organizations, and employees
thereof recommending a transaction in the Notes: (1) to determine
that such transaction is suitable for the customer, and (2) to have
a reasonable basis for believing that the customer can evaluate the
special characteristics of, and is able to bear the financial risks
of, such transaction.
    \17\ See Securities Exchange Act Release No. 54790 (November 20,
2006), 71 FR 68645 (November 27, 2006) (SR-Amex-2006-01).
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III. Discussion and Commission's Findings

    After careful consideration, the Commission finds that the proposed
rule change, as amended, is consistent with the requirements of the Act
and the rules and regulations thereunder applicable to a national
securities exchange.\18\ In particular, the Commission finds that the
proposal is consistent with the requirements of Section 6(b)(5) of the
Act,\19\ which requires, among other things, that the Exchange's rules
be 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. The Commission notes that the Notes
are substantially similar to other notes, the listing and trading of
which have previously been approved by the Commission.\20\ The
Commission also notes that it has approved indexes comprised of similar
commodity pools underlying other derivative products that are currently
listed and traded on the Exchange.\21\
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    \18\ In approving this proposed rule change, the Commission
notes that it has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
    \19\ 15 U.S.C. 78f(b)(5).
    \20\ See, e.g., 71 FR 68645, supra note 17 (approving the
listing and trading of principal protected notes linked to the Dow
Jones-AIG ExEnergy Sub-Index, which is comprised of components that
make up a subset of the Index); Securities Exchange Act Release No.
53876 (May 25, 2006), 71 FR 32158 (June 2, 2006) (SR-NYSE-2006-16)
(approving the listing and trading of index-linked securities of
Barclays Bank PLC linked to the performance of the Index).
    \21\ See e.g., Securities Exchange Act Release No. 55029
(December 29, 2006), 72 FR 806 (January 8, 2007) (SR-Amex-2006-76)
(DB Multi-Sector Commodity Trust); Securities Exchange Act Release
No. 53105 (January 11, 2006), 71 FR 3129 (January 19, 2006) (SR-
Amex-2005-059) (DB Commodity Index Tracking Fund).
---------------------------------------------------------------------------

    The Commission further believes that the proposal is consistent
with Section 11A(a)(1)(C)(iii) of the Exchange Act,\22\ which sets
forth Congress' finding that it is in the public interest and
appropriate for the protection of investors and the maintenance of fair
and orderly markets to assure the availability to brokers, dealers, and
investors of information with respect to quotations for and
transactions in securities. Dow Jones will disseminate the Index value
at least every 15 seconds from 8 a.m. to 3 p.m. ET and publish a daily
Index level at approximately 4 p.m. ET on each DJ-AIG Business Day on
its Internet Web site and on Bloomberg's Web site. In addition, daily
settlement prices, futures quotes, and last-sale information for the
designated contracts on the commodities underlying the Index are
available through a variety of major market data vendors and financial
news publications, including Bloomberg and Reuters.
---------------------------------------------------------------------------

    \22\ 15 U.S.C. 78k-1(a)(1)(C)(iii).
---------------------------------------------------------------------------

    In support of this proposal, the Exchange has made the following
representations:
    (1) Amex would rely on its existing surveillance procedures, which
are adequate to properly monitor the trading of the Notes.
Specifically, the Exchange will rely on its surveillance procedures
applicable to index-linked securities, which are similar to the
surveillance procedures governing exchange-traded funds and trust-
issued receipts. With regard to the Index components, Amex has in place
a comprehensive surveillance sharing agreement with ICE, LME, and
NYMEX, for the purpose of providing and obtaining information due to
regulatory concerns that may arise in connection with the trading of
the futures contracts underlying the Index. In addition, Amex states
that is able to obtain all such necessary market surveillance
information from CBOT, CME, and NYBOT, which are members of ISG. As a
result, the Exchange can obtain all necessary market surveillance
information due to regulatory concerns that may arise in connection
with the commodity futures contracts underlying the Index.
    (2) AIG-FP has in place procedures reasonably designed to prevent
the improper sharing, use, and dissemination by relevant employees of
AIG-FP of material non-public information relating to changes in the
composition or method of computation or calculation of the Index and
agrees to periodically check the application of such procedures as they
relate to personnel of AIG-FP responsible for such changes. In
addition, the Supervisory and Advisory Committees are subject to
written policies that acknowledge their obligations with

respect to such material non-public information.
    (3) The Exchange will halt trading in the Notes if the circuit
breaker parameters of Amex Rule 117 have been reached and, in
exercising its discretion to halt or suspend trading in the Notes, the
Exchange may consider factors such as those set forth in Amex Rule
918C(b), in addition to other factors that may be relevant. In
particular, if the Index value is not being disseminated as required,
the Exchange may halt trading during the day in which the interruption
to the dissemination of the Index value occurs. If the interruption to
the dissemination of the Index value persists past the trading day on
which it occurred, the Exchange will halt trading no later than the
beginning of the trading day following the interruption.
    (4) Amex will distribute an Information Circular to its members
providing guidance with regard to the special characteristics and risks
of trading this type of security, member firm compliance
responsibilities, including suitability recommendations, the specific
Amex trading rules governing transactions in the Notes, and the
prospectus delivery requirements applicable to the Notes.
    This Order is conditioned on Amex's adherence to the foregoing
representations.
    The Commission finds good cause to approve the proposed rule
change, as modified by Amendment No. 1 thereto, prior to the thirtieth
day after publication for comment in the Federal Register pursuant to
Section 19(b)(2) of the Act.\23\ As noted earlier, the Notes are
substantially similar to other notes, the listing and trading of which
have previously been approved by the Commission, and do not appear to
present any new regulatory concerns.\24\ In addition, the Commission
notes that the same Index currently underlies other products previously
approved for listing and trading.\25\ Accelerating approval of this
proposed rule change would allow the Notes to trade on Amex without
undue delay and should generate additional competition in the market
for such products.
---------------------------------------------------------------------------

    \23\ 15 U.S.C. 78s(b)(2).
    \24\ See supra note 20.
    \25\ See id.
---------------------------------------------------------------------------

IV. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\26\ that the proposed rule change (SR-Amex-2007-29), as modified
by Amendment No. 1, be, and it hereby is, approved on an accelerated
basis.
---------------------------------------------------------------------------

    \26\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\27\
---------------------------------------------------------------------------

    \27\ 17 CFR 200.30-3(a)(12).
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J. Lynn Taylor,
Assistant Secretary.
 [FR Doc. E7-9854 Filed 5-22-07; 8:45 am]

BILLING CODE 8010-01-P