[Federal Register Volume 77, Number 144 (Thursday, July 26, 2012)]
[Notices]
[Pages 43900-43901]
[FR Doc No: 2012-18007]

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DEPARTMENT OF TRANSPORTATION

Office of the Secretary

[Docket No. DOT-OST-2012-0111]

Senior Executive Service Performance Review Boards Membership

AGENCY: Office of the Secretary, Department of Transportation (DOT).

ACTION: Notice of Performance Review Board (PRB) appointments.

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SUMMARY: DOT publishes the names of the persons selected to serve on
the various Departmental PRBs as required by 5 U.S.C. 4314(c)(4).

FOR FURTHER INFORMATION CONTACT: Nancy A. Mowry, Director, Departmental
Office of Human Resource Management,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: The persons named below have been selected
to serve on one or more Departmental PRBs.

    Issued in Washington, DC, on July 17, 2012.
Brodi L. Fontenot,
Deputy Assistant Secretary for Administration.

Department of Transportation

Federal Highway Administration

Alicandri, Elizabeth
Arnold, Robert E.
Baxter, John R.
Bezio, Brian R.
Brecht-Clark, Jan M.
Brown, Janice W.
Castellanos, Nelson
Cheatham, James A.
Conner, Clara H.
Curtis, Joyce A.
DeCarme, David G.
Elston, Debra S.
Evans, Monique R.
Furst, Anthony T.
Griffith, Michael S.
Holian, Thomas P.
Kehrli, Mark R.
Knopp, Martin C.
Konove, Elissa K.
Lindley, Jeffrey A.
Lucero, Amy C.
Lwin, Maung Myint
Marchese, April Lynn
McElroy, Regina S.
Miller, Thomas R.
Nadeau, Gregory G.
Nicol, David A.
Pagan-Ortiz, Jorge E.
Paniati, Jeffrey F.
Peters, Joseph I.
Ridenour, Melisa Lee
Saunders, Ian C.
Shepard, Gloria Morgan
Solomon, Gerald L.
St. Denis, Catherine
Stephanos, Peter J.
Suarez, Ricardo
Tischer, Mary Lynn
Toole, Patricia Ann
Trentacoste, Michael F.
Waidelich, Jr., Walter C.
Winter, David R.
Wlaschin, Julius B.

Federal Motor Carrier Administration

Amos, Anna J.
Bronrott, William A.
Collins, Anne L.
Dillingham, Steven D.
Horan III, Charles A.
Jefferson, Daphne Y.
Leone, Geraldine K.
Minor, Larry W.
Smith, Steven K.
Quade III, William A.
Van Steenburg, John W.

Federal Railroad Administration

Haley, Michael T.
Hedlund, Karen J.
Hill, Corey W.
Hynes, Ronald E.
Lauby, Robert C.
Logue, Michael J.
Nissenbaum, Paul
Pennington, Rebecca A.
Strang, Jo E.
Tunna, John M.

Federal Transit Administration

Biehl, Scott A.
Buchanan-Smith, Henrika
Carter, Dorval R.
Hynes-Cherin, Brigid
Linnertz, Ann M.
McMillan, Therese Watkins
Mello, Mary Elizabeth
Patrick, Robert C.
Rogers, Leslie T.
Simon, Marisol R.
Taylor, Yvette G.
Tuccillo, Robert J.
Valdes, Vincent
Welbes, Matthew J.

Maritime Administration

Bohnert, Roger V.
Brohl, Helen A.
Byrne, Joseph Andrew
Kumar, Shashi N.
Lesnick, H. Keith
McMahon, Christopher J.
Moschkin, Lydia
Pixa, Rand R.
Tokarski, Kevin M.
Weaver, Janice G.

National Highway Traffic Safety Administration

Abraham, Julie
Beuse, Nathaniel M.
Bonanti, Christopher J.
Borris II, Frank S.
Brown, Michael L.
Carra, Joseph S.
Coggins, Colleen P.
Donaldson, K. John
Geraci, Michael N.
Guerci, Lloyd S.
Gunnels, Mary D.
Harris, Claude H.
Maddox, John M.
McLaughlin, Brian M.
McLaughlin, Susan G.
Medford, Ronald L.
Michael, Jeffrey P.
Saul, Roger A.
Shelton, Terry T.
Simons, James F.
Smith, Daniel C.
Vincent, O. Kevin
Walter, Gregory A.
Wood, Stephen P.

Office of the Secretary

Bell, David K.
Brown, Gregory A.
DeBoer, Joan M.
Eisner, Neil R.
Fields, George C.
Forsgren, Janet R.
Geier, Paul M.
Gretch, Paul L.
Hazeur, Camille M.
Herlihy, Thomas W.
Homan, Todd M.
Horn, Donald H.
Hurdle, Lana T.
Jackson, Ronald A.
Jones, Mary N. Whigham
Jones, Maureen A.
Kaleta, Judith S.
Lawson, Linda L.
Lee, Jr., Robert M.
Lefevre, Maria S.
Lowder, Michael W.
McDermott, Susan E.
Mowry, Nancy A.
Osborne, Elizabeth D.
Petrosino-Woolverton, Marie
Podberesky, Samuel
Rivait, David J.
Scarton, Amy M.
Schmidt, Robert T.
Smith, Willie H.
Streitmatter, Marlise
Szabat, Joel M.
Washington, Keith E.
Wells, John V.

Ziff, Laura M.

Pipeline and Hazardous Materials Safety Administration

Daugherty, Linda
El-Sibaie, Magdy A.
Mayberry, Alan K.
Posten, R. Ryan
Poyer, Scott A.
Summitt, Monica J.
Wiese, Jeffrey D.

Research and Innovative Technology Administration

Aylward, Anne D.
Hu, Patricia S.
Ishihara, David S.
Johns, Robert C.
Russo, Anthony J.
Winfree, Gregory D.

Saint Lawrence Seaway Development Corporation

Middlebrook, Craig H.
Pisani, Salvatore L.
[FR Doc. 2012-18007 Filed 7-25-12; 8:45 am]
BILLING CODE 4910-9X-P


[Federal Register Volume 81, Number 22 (Wednesday, February 3, 2016)]
[Notices]
[Pages 5793-5795]
[FR Doc No: 2016-01923]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-76982; File No. SR-NYSEMKT-2015-80]

Self-Regulatory Organizations; NYSE MKT LLC; Order Approving a
Proposed Rule Change Deleting Rule 410B--Equities Governing Reporting
Requirements for Off-Exchange Transactions

January 28, 2016.

I. Introduction

    On October 16, 2015, NYSE MKT LLC (the ``Exchange'' or ``NYSE
MKT'') 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 delete Rule 410B--Equities governing reporting
requirements for off-Exchange transactions. The proposed rule change
was published for comment in the Federal Register on November 2,
2015.\3\ The Commission received no comment letters on the proposed
rule change. On December 16, 2015, the Commission designated a longer
period within which to approve the proposed rule change, disapprove the
proposed rule change, or institute proceedings to determine whether to
approve or disapprove the proposed rule change.\4\ The Commission is
approving the proposed rule change.
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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. 76276 (October 27,
2015), 80 FR 67454.
    \4\ See Securities Exchange Act Release No. 76669, 80 FR 79640
(December 22, 2015).
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II. Description of the Proposed Rule Change

    The Exchange proposes to delete Rule 410B--Equities (``Rule
410B''), which sets forth certain regulatory reporting requirements for
member or member organizations effecting off-Exchange transactions in
Exchange listed securities that are not reported to the Consolidated
Tape, and to make conforming amendments to Rule 476A to delete a
reference to Rule 410B. The Exchange represents that Rule 410B is no
longer necessary in light of changes in trade reporting and regulatory
requirements that have been put in place since the Exchange adopted
Rule 410B.

Changes to Regulatory Landscape

    On July 30, 2007, the National Association of Securities Dealers,
Inc. (``NASD''), New York Stock Exchange LLC (``NYSE''), and NYSE
Regulation, Inc. (``NYSE Regulation'') consolidated their member-firm
regulation operations to create the Financial Industry Regulatory
Authority, Inc. (``FINRA'') and entered into a plan to allocate to
FINRA regulatory responsibility for common rules and common members
(``17d-2 Agreement'').\5\ The Exchange was added as a party to the 17d-
2 Agreement in 2009.\6\
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    \5\ See Securities Exchange Act Release No. 56148 (July 26,
2007), 72 FR 42146 (August 1, 2007) (File No. 4-544) (Notice of
Filing and Order Approving and Declaring Effective a Plan for the
Allocation of Regulatory Responsibilities). In 2007, the NASD, NYSE,
the Exchange and NYSE Regulation also entered into a Regulatory
Services Agreement (``RSA''), whereby FINRA was retained to perform
certain regulatory services for non-common rules.
    \6\ See Securities Exchange Act Release No. 60409 (July 30,
2009), 74 FR 39353 (August 6, 2009) (File No. 4-587).
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    In 2008, the Exchange, NASD, NYSE, and NYSE Regulation also entered
into a plan to allocate to FINRA regulatory responsibility, over
exchange members that are also FINRA members, for surveillance,
investigation, and enforcement of insider trading with respect to NYSE-
and MKT-listed stocks, among others, irrespective of where the relevant
trading occurred (the ``Insider Trading Plan'').\7\ On June 14, 2010,
FINRA was retained to perform the residual market surveillance and
enforcement functions that had, up to that point, been performed by
NYSE

Regulation.\8\ In January 2011, the SEC approved an amendment to the
Insider Trading Plan whereby FINRA also assumed responsibility for
performing the insider-trading-related market surveillance and
enforcement functions previously conducted by NYSE Regulation for its
U.S. equities and options markets.\9\
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    \7\ See Securities Exchange Act Release No. 54646 (September 12,
2008), 73 FR 54646 (September 22, 2008) (File No. 4-566). See also
Securities Exchange Act Release No. 58806 (October 17, 2008), 73 FR
63216 (October 23, 2008) (File No. 4-566).
    \8\ See Securities Exchange Act Release No. 62355 (June 22,
2010), 75 FR 36729 (June 28, 2010) (SR-NYSE-2010-46); Securities
Exchange Act Release No. 62354 (June 22, 2010), 75 FR 36730 (June
28, 2010) (SR-NYSEAmex-2010-57). NYSE Regulation performed the
regulatory functions of NYSE MKT pursuant to an intercompany RSA.
    \9\ See Securities Exchange Act Release No. 63750 (January 21,
2011), 76 FR 4948 (January 27, 2011) (File No. 4-566).
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Changes in Trade Reporting and Regulatory Reporting

    In 1998, FINRA (then the NASD) established the Order Audit Trail
System (OATS), as an integrated audit trail of order, quote, and trade
information for OTC equity securities and equity securities listed and
traded on The Nasdaq Stock Market, Inc. (``Nasdaq'').\10\ In 2010,
FINRA Rules 7410 through 7470 (the ``OATS Rules'') were amended to
extend the recording and reporting requirements to all NMS stocks, as
that term is defined in Rule 600(b)(47) of Regulation NMS,\11\
including NYSE- and MKT-listed securities. The Exchange adopted the
OATS Rules in 2011.\12\ The Exchange states that FINRA may use the
information it collects pursuant to the OATS Rules to perform its
regulatory functions.
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    \10\ See Securities Exchange Act Release No. 39729 (March 6,
1998), 63 FR 12559 (March 13, 1998) (SR-NASD-97-56).
    \11\ See Securities Exchange Act Release No. 63311 (November 12,
2010), 75 FR 70757 (November 18, 2010) (SR-FINRA-2010-044). See also
17 CFR 242.600(b)(47).
    \12\ See Securities Exchange Act Release No. 65524 (October 7,
2011), 76 FR 64151 (October 17, 2011) (SR-NYSEAmex-2011-74).
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    According to the Exchange, Rule 410B also predates the
establishment of a FINRA Trade Reporting Facility (``TRF''). FINRA Rule
6110 requires FINRA members to report transactions in NMS stocks \13\
effected ``otherwise than on or through a national securities
exchange.'' \14\ Pursuant to FINRA Rules 6310A and 6310B, FINRA members
may use either the FINRA/NYSE TRF or FINRA/Nasdaq TRF to report such
off-Exchange transactions.\15\ FINRA members using these TRFs to report
off-Exchange transactions are in turn subject to FINRA Rule 7230B,
which, the Exchange states, imposes transaction-information reporting
requirements similar to Rule 410B.\16\ As a result, the Exchange
represents that dual members of both the Exchange and FINRA must report
off-Exchange transactions to a TRF and submit substantially similar
reports to the Exchange and FINRA.
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    \13\ As defined in Rule 600(b)(47) of Regulation NMS, 17 CFR
242.600(b)(47).
    \14\ See FINRA Rule 6110. See generally FINRA Rule 6300A and
7200A Series (FINRA/Nasdaq TRF) and 6300B and 7200B Series (FINRA/
NYSE TRF).
    \15\ See FINRA Rules 6300A & 6300B.
    \16\ See Rule 7230B.
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Proposed Rule Change

    The Exchange proposes to delete Rule 410B in its entirety. The
Exchange represents that, since 2010, surveillance and enforcement
responsibilities across markets have been consolidated at FINRA, which
conducts cross-market surveillances on the Exchange's behalf utilizing
various data sources, including extensive trade and other information
that FINRA collects pursuant to its rules. This trade information
includes reports of off-exchange transactions.
    The Exchange represents that all of its member organizations, with
only nine exceptions, are members of FINRA and, as such, must report
all off-exchange transactions to FINRA, including transactions away
from the Exchange that are not reported to the Consolidated Tape. The
Exchange further represents that this information is essentially
duplicative of the Rule 410B reports the Exchange currently supplies to
FINRA. The Exchange notes that one exception would be transactions in
dually listed securities executed on and reported to a foreign
securities exchange, which are not required to be reported because such
trades are executed ``on or through an exchange.'' \17\ The Exchange
represents that it believes such trades pose little regulatory risk
and, given that no other exchange has a rule comparable to Rule 410B,
notes that such trades are also not being reported to other equities
exchanges. Finally, the Exchange represents that only a handful of
firms currently account for all of the Rule 410B activity, all of whom
are also FINRA members.\18\ The Exchange believes that Rule 410B is
thus no longer necessary, and deleting it would eliminate essentially
duplicative reporting of off-Exchange transactions by dual members.
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    \17\ See Trade Reporting Frequently Asked Questions, Section
701, Q/A701.1, available at http://www.finra.org/industry/trade-reporting-faq.
    \18\ According to the Exchange, Rule 410B Weekly Reports
submitted to the SEC in July and August 2015 reveal that only five
firms, all also FINRA members, accounted for all of the Rule 410B
trading activity. The Exchange further represents that the list of
firms that have in the past submitted Rule 410B reports does not
include any non-FINRA members.
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    The Exchange does not believe that eliminating the Rule 410B
reporting requirement for the small number of NYSE MKT-only members\19\
would pose any significant regulatory risk. The Exchange represents
that none of these firms has ever submitted a Rule 410B report. The
Exchange also notes that NYSE MKT-only members would remain subject to
federal and Exchange books and records requirements.\20\
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    \19\ The Exchange represents that these nine non-FINRA member
firms do not have any public customers and are also members of
Nasdaq as well as NYSE.
    \20\ See 17 CFR 240.17a-3, 17 CFR 240.17a-4 & Rule 440--
Equities.
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III. Discussion and Commission Findings

    After careful review, the Commission finds that the proposed rule
change is consistent with the requirements of the Act \21\ and the
rules and regulations thereunder applicable to a national securities
exchange.\22\ In particular, the Commission finds that the proposed
rule change is consistent with Section 6(b)(5) of the Act,\23\ which
requires, among other things, that the rules of a national securities
exchange be designed to prevent fraudulent and manipulative acts and
practices, to promote just and equitable principles of trade, to foster
cooperation and coordination with persons engaged in facilitating
transactions in securities, to remove impediments to and perfect the
mechanism of a free and open market and a national market system, and,
in general, to protect investors and the public interest and that the
rules are not designed to permit unfair discrimination between
customers, issuers, brokers, or dealers.
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    \21\ 15 U.S.C. 78f.
    \22\ In approving this proposed rule change, the Commission has
considered the proposed rule's impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
    \23\ 15 U.S.C. 78f(b)(5).
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    Based on the Exchange's representations, the Commission believes
that eliminating the Rule 410B reporting requirement will not reduce
the amount of publicly available information about securities
transactions and that it is not likely to hamper the ability of the
Exchange to conduct regulatory oversight of its members. The Commission
notes that Rule 410B does not currently provide for real-time, publicly
disseminated reporting of transactions, but instead requires non-
public, electronic reporting of trade data to the Exchange on a next-
day basis for regulatory purposes only. The Commission further notes
that the Exchange represents that its members would remain subject to
federal and

Exchange books-and-records requirements \24\ and that Exchange members
would still be required to provide such trade data to the Exchange upon
the Exchange's request. For these reasons, the Commission believes that
the proposal should help to prevent fraudulent and manipulative acts
and practices, promote just and equitable principles of trade, remove
impediments to and perfect the mechanism of a free and open market and
a national market system, and, in general, protect investors and the
public interest.
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    \24\ See 17 CFR 240.17a-3, 17 CFR 240.17a-4 & Rule 440--
Equities.
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IV. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\25\ that the proposed rule change (SR-NYSEMKT-2015-80) be, and
hereby is, approved.
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    \25\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\26\
Robert W. Errett,
Deputy Secretary.
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    \26\ 17 CFR 200.30-3(a)(12).
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[FR Doc. 2016-01923 Filed 2-2-16; 8:45 am]
 BILLING CODE 8011-01-P