[Federal Register: October 18, 2006 (Volume 71, Number 201)]
[Notices]
[Page 61519-61524]
[DOCID:fr18oc06-106]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-54591; File No. SR-NASD-2006-115]

Self-Regulatory Organizations; National Association of Securities
Dealers, Inc.; Notice of Filing of a Proposed Rule Change Relating to a
New NASD Trade Reporting Facility Established in Conjunction With the
Boston Stock Exchange

October 12, 2006.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on September 29, 2006, the National Association of Securities Dealers,
Inc. (``NASD'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change, as described in Items I, II,
and III below, which Items have been prepared by NASD. The

Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    NASD proposes to adopt rules relating to a new Trade Reporting
Facility (the ``NASD/BSE TRF'') to be established by NASD, in
conjunction with the Boston Stock Exchange (``BSE''), that would
provide members with another mechanism for reporting trades in
exchange-listed securities effected otherwise than on an exchange. The
proposed NASD/BSE TRF structure and rules are substantially similar to
the Trade Reporting Facility established by NASD and the Nasdaq Stock
Market, Inc. (the ``NASD/Nasdaq TRF'') and the rules relating thereto,
which the Commission approved.\3\
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    \3\ See Securities Exchange Act Release No. 54084 (June 30,
2006), 71 FR 38935 (July 10, 2006) (order approving File No. SR-
NASD-2005-087) (``NASD/Nasdaq TRF Approval Order''). The changes
approved in the NASD/Nasdaq TRF Approval Order became effective on
August 1, 2006, the date when The NASDAQ Stock Market LLC (the
``Nasdaq Exchange'') commenced operation as a national securities
exchange for Nasdaq-listed securities. On September 5, 2006, NASD
filed a proposal that, among other things, expands the scope of the
NASD/Nasdaq TRF rules to include reporting in all exchange-listed
securities. See Securities Exchange Act Release No. 54451 (September
15, 2006), 71 FR 55243 (September 21, 2006) (notice of filing of
File No. SR-NASD-2006-104) (``September 2006 Proposal'').
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    The text of the proposed rule change is available on NASD's Web
site at (http://www.nasd.com), at the principal office of NASD, at the

Commission's Public Reference Room, and on the Commission's Web site
(http://www.sec.gov).

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

    In its filing with the Commission, NASD included statements
concerning the purpose of, and basis for, the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. NASD 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
Statutory Basis for, the Proposed Rule Change

1. Purpose
    Among other things, the NASD/Nasdaq TRF Approval Order \4\
approved: (1) Amendments to the NASD Delegation Plan, NASD By-Laws and
NASD rules to reflect a phased implementation strategy for the
operation of the Nasdaq Stock Market LLC as a national securities
exchange with respect to Nasdaq-listed securities during a transitional
period; and (2) rules for reporting trades effected otherwise than on
an exchange to the NASD/Nasdaq TRF, including the NASD Rule 4000 Series
(The Trade Reporting Facility) and the NASD Rule 6100 Series (Clearing
and Comparison Rules), which generally apply to trade reporting and
clearing and comparison services via the NASD/Nasdaq TRF.
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    \4\ See note 3, supra.
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NASD/BSE Trade Reporting Facility
    The NASD proposes to establish a new NASD/BSE TRF on substantially
the same terms as the NASD/Nasdaq TRF.\5\ The NASD/BSE TRF will provide
members with another mechanism, which has been developed by the BSE,
for reporting transactions in exchange-listed securities executed
otherwise than on an exchange. Members will match and/or execute orders
internally or through proprietary systems and submit these trades to
the NASD/BSE TRF with the appropriate information and modifiers. The
NASD/BSE TRF will report the trades to the appropriate exclusive
securities information processor (``SIP'').\6\ As with trades reported
to the NASD/Nasdaq TRF, NASD/BSE TRF transactions disseminated to the
media will include a modifier indicating the source of such
transactions that would distinguish them from transactions executed on
or through the BSE. In addition, the NASD/BSE TRF will provide NASD
with a real-time copy of each trade report for regulatory review
purposes. At the option of the participant, the NASD/BSE TRF may also
provide the necessary clearing information regarding transactions to
the National Securities Clearing Corporation (``NSCC'').
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    \5\ In response to comments submitted to the Commission in
connection with its proposal to establish the NASD/Nasdaq TRF, NASD
indicated that it was prepared to implement a Trade Reporting
Facility with any exchange based on whatever technology the exchange
has available to it. See letter from Robert Glauber, Chairman and
Chief Executive Officer, NASD, to the Hon. Christopher Cox,
Chairman, U.S. Securities and Exchange Commission, dated May 2,
2006. As the Commission noted in the NASD/Nasdaq TRF Approval Order,
the Act does not prohibit NASD from establishing different
facilities for purposes of fulfilling its regulatory obligations.
See NASD/Nasdaq TRF Approval Order, supra note 3.
    \6\ NASD represents that the NASD/BSE TRF will have controls in
place to ensure that transactions that are reported to the NASD/BSE
TRF, but priced significantly away from the current market, will not
be submitted to the SIP. The NASD notes that this is consistent with
current practice in that neither NASD's Alternative Display Facility
nor the NASD/Nasdaq TRF submits such trades to the SIP. According to
the NASD, this practice is designed to preserve the integrity of the
tape.
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    Like the NASD/Nasdaq TRF, the NASD/BSE TRF will be a facility of
NASD, subject to regulation by NASD and NASD's registration as a
national securities association. It will not be a service ``for the
purpose of effecting or reporting a transaction'' on the BSE; rather,
it will be a service for the purpose of reporting over-the-counter
(``OTC'') transactions in exchange-listed securities to NASD.\7\ Thus,
members that meet all applicable requirements will have the option of
reporting transactions in exchange-listed securities executed otherwise
than on an exchange to an NASD Trade Reporting Facility (the NASD/BSE
TRF, the NASD/Nasdaq TRF, or the NASD/NSX TRF \8\), NASD's Alternative
Display Facility (``ADF''),\9\ or NASD's Intermarket Trading System/
Computer Assisted Execution System (``ITS/CAES'') System.\10\
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    \7\ See NASD/Nasdaq TRF Approval Order, supra note 3.
    \8\ NASD also has filed a proposed rule change to establish a
Trade Reporting Facility in conjunction with the National Stock
Exchange (the ``NASD/NSX TRF''). See Securities Exchange Act Release
No. 54479 (September 21, 2006), 71 FR 56573 (September 27, 2006)
(notice of filing of File No. SR-NASD-2006-108). If approved by the
Commission, the NASD/NSX TRF would provide members with another
mechanism for reporting trades in Nasdaq-listed equity securities
effected otherwise than on an exchange. NASD intends to submit a
filing at a later date to expand reporting to the NASD/NSX TRF to
include all exchange-listed securities.
    \9\ NASD has filed a proposed rule change proposing to expand
ADF functionality to all exchange-listed securities. See Securities
Exchange Act Release No. 54277 (August 4, 2006), 71 FR 46527 (August
14, 2006) (notice of filing of File No. SR-NASD-2006-091).
    \10\ NASD has filed a proposed rule change to, among other
things, provide for the operation of the ITS/CAES System, which
includes the reporting of transactions in non-Nasdaq exchange-listed
securities. See September 2006 Proposal, supra note 3. NASD
represents that it will have an integrated audit trail of all TRF,
ADF, and ITS/CAES System transactions, as applicable in a particular
security, and will have integrated surveillance capabilities. NASD
expects that comprehensive audit trail and surveillance integration
on an automated basis will be completed by the end of the fourth
quarter of 2006 for Nasdaq-listed securities and by the end of the
first quarter of 2007 for non-Nasdaq exchange-listed securities.
Prior to that time, NASD staff will be able to create an integrated
audit trail on a manual basis as needed for regulatory purposes.

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    BSE has developed the system that participants will use to access
the NASD/BSE TRF. Technical specifications to connect to the NASD/BSE
TRF system are available upon request to NASD and will be accessible
through the NASD's Web site at a later date.
NASD/BSE TRF Limited Liability Company Agreement
    NASD and BSE propose to enter into a Limited Liability Company
Agreement of NASD/BSE Trade Reporting Facility LLC (``the NASD/BSE LLC
Agreement''). The terms of the NASD/BSE LLC Agreement are substantially
similar to the terms of the LLC agreement that NASD entered with Nasdaq
Stock Market Inc. (``Nasdaq'').
    NASD will have sole regulatory responsibility for the NASD/BSE TRF,
while BSE agrees to pay the cost of regulation and will provide systems
to enable members to report trades to the NASD/BSE TRF. BSE will be
entitled to the profits and losses, if any, derived from the operation
of the NASD/BSE TRF.
    NASD, the ``SRO Member'' under the NASD/BSE LLC Agreement, will
perform SRO Responsibilities including, but not limited to:
    (1) Adoption, amendment, and interpretation of policies arising out
of and regarding any aspect of the operation of the facility considered
material by the SRO Member, or regarding the meaning, administration,
or enforcement of an existing rule of the SRO Member, including any
generally applicable exemption from such a rule;
    (2) Approval of rule filings of the SRO Member prior to filing with
the SEC;
    (3) Regulation of the NASD/BSE TRF's activities of or relating to
SRO Responsibilities, including the right to review and approve, in the
SRO Member's sole reasonable discretion, the regulatory budget for the
NASD/BSE TRF;
    (4) Securities regulation and any other matter implicating SRO
Responsibilities; and
    (5) Real-time market surveillance.\11\
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    \11\ The SRO Member will perform real-time market surveillance
related to trades reported to the NASD/BSE TRF. However, because the
NASD/BSE TRF via the Business Member will submit transaction
information directly to the SIP, the NASD/BSE TRF via the Business
Member also will establish and implement controls to ensure that
transactions that are reported to the NASD/BSE TRF, but are priced
significantly away from the current market, will not be submitted to
the SIP. See supra note 6.
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    BSE, the ``Business Member'' under the NASD/BSE LLC Agreement, will
be primarily responsible for the management of the facility's business
affairs to the extent those activities are not inconsistent with the
regulatory and oversight functions of NASD. Under Section 9(d) of the
NASD/BSE LLC Agreement, each Member agrees to comply with the federal
securities laws and the rules and regulations thereunder and to
cooperate with the Commission pursuant to its regulatory authority.
    The NASD/BSE TRF will be managed by or under the direction of a
Board of Directors to be established by the parties. NASD will have the
right to designate at least one Director, the SRO Member Director, who
may be a member of NASD's Board of Governors or an officer or employee
of NASD designated by the NASD's Board of Governors. The SRO Member
Director will have veto power over all major actions of the NASD/BSE
LLC Board. Section 10(e) of the NASD/BSE LLC Agreement defines ``Major
Actions'' to include:
    (1) Approving pricing decisions that are subject to the SEC filing
process;
    (2) Approving contracts between the NASD/BSE TRF and the Business
Member, any of its affiliates, directors, officers, or employees;
    (3) Approving Director compensation;
    (4) Selling, licensing, leasing, or otherwise transferring material
assets used in the operation of the NASD/BSE TRF's business outside of
the ordinary course of business with an aggregate value in excess of $3
million;
    (5) Approving or undertaking a merger, consolidation, or
reorganization of the NASD/BSE TRF with any other entity;
    (6) Entering into any partnership, joint venture, or other similar
joint business undertaking;
    (7) Making any fundamental change in the market structure of the
NASD/BSE TRF from that contemplated by the Members as of the date of
the NASD/BSE LLC Agreement;
    (8) To the fullest extent permitted by law, taking any action to
effect the voluntary, or which would precipitate an involuntary,
dissolution or winding up of the Company, other than as contemplated by
Section 21 of the NASD/BSE LLC Agreement;
    (9) Conversion of the NASD/BSE TRF from a Delaware limited
liability company into any other type of entity;
    (10) Expansion of or modification to the business which results in
the NASD/BSE TRF engaging in material business unrelated to the
business of Non-System Trading; \12\
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    \12\ Pursuant to the NASD/BSE LLC Agreement, ``Non-System
Trading'' means trading otherwise than on an exchange of securities
for which the SEC has approved a transaction reporting plan pursuant
to Rule 601 of Regulation NMS under the Act.
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    (11) Changing the number of Directors on or composition of the
NASD/BSE LLC Board; and
    (12) Adopting or amending policies regarding access and credit
matters affecting the NASD/BSE TRF.
    In addition, each Director agrees to comply with the federal
securities laws and the rules and regulations thereunder and to
cooperate with the Commission and the SRO Member pursuant to their
regulatory authority.
    The principal difference between the NASD/BSE LLC Agreement and the
LLC Agreement NASD entered with Nasdaq relates to termination. The
initial term of the agreement is three years. During that time, until
the NASD/BSE TRF reaches ``Substantial Trade Volume'' (defined as
250,000 trades or more per day for three consecutive months), BSE may
terminate the arrangement for convenience. After the NASD/BSE TRF
reaches Substantial Trade Volume, either Member may terminate the NASD/
BSE Trade Reporting Facility LLC by providing to the other Member prior
written notice of at least one year (as in the case with Nasdaq).
Neither Member may deliver such notice before the second anniversary of
the effective date of the NASD/BSE LLC Agreement. In addition, at any
time, NASD may terminate in the event its status or reputation as a
preeminent SRO is called into jeopardy by the actions of BSE or the
NASD/BSE TRF. In the event of termination of the NASD/BSE TRF
arrangement, NASD will be able to fulfill all of its regulatory
obligations with respect to OTC trade reporting through its other
facilities, including the NASD/Nasdaq TRF, ADF, and the ITS/CAES
System.
NASD/BSE Trade Reporting Facility Rules
    Members will report trades in exchange-listed securities effected
otherwise than on an exchange to the NASD/BSE TRF pursuant to NASD
rules. As such, NASD is proposing rules relating to the use and
operation of the NASD/BSE TRF that are substantially similar to the
rules approved by the Commission relating to the NASD/Nasdaq TRF.
Specifically, NASD is proposing the new NASD Rule 4000D and NASD Rule
6100D Series, which largely track the NASD Rule 4000 and NASD Rule 6100
Series that the Commission approved in the NASD/Nasdaq TRF Approval
Order.\13\
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    \13\ See note 3, supra.
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    Similar to the NASD/Nasdaq TRF rules, to become a participant in
the NASD/BSE TRF, an NASD member must meet minimum requirements as

outlined in NASD Rule 6120D. These include execution of, and continuing
compliance with, a Participant Application Agreement; membership in, or
maintenance of an effective clearing arrangement with a participant of
a clearing agency registered pursuant to the Act; and the acceptance
and settlement of each trade that the NASD/BSE TRF identifies as having
been effected by the participant.
    Members that report trades to the NASD/BSE TRF must include the
details of the trade, as required by the proposed rules. Participants
must also include the unique order identifier assigned for purposes of
reporting to the Order Audit Trail System pursuant to the NASD Rule
6950 Series, thus enabling NASD to match the order against the trade
that was reported to the tape by the NASD/BSE TRF.
    As with the NASD/Nasdaq TRF, participants may enter into ``give
up'' arrangements whereby one member reports to the NASD/BSE TRF on
behalf of another member. Participants must complete and submit to the
NASD/BSE TRF the appropriate documentation reflecting the arrangement.
Proposed NASD Rule 4632D(h) provides that the member with the reporting
obligation remains responsible for the transaction submitted on its
behalf. Further, both the member with the reporting obligation and the
member submitting the trade to the NASD/BSE TRF are responsible for
ensuring that the information submitted is in compliance with all
applicable rules and regulations.\14\
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    \14\ As noted above, NASD/Nasdaq TRF participants may enter into
``give up'' arrangements; however, the NASD/Nasdaq TRF rules
currently do not speak to such arrangements. NASD has submitted a
proposed rule change to amend the NASD/Nasdaq TRF rules to include a
provision that is substantially similar to proposed NASD Rule
4632D(h). See September 2006 Proposal, supra note 3.
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    In addition, participants will be able to submit ``riskless
principal'' transactions \15\ to the NASD/BSE TRF. Similar to the NASD/
Nasdaq TRF, the non-media portion of a riskless principal transaction
will not be reported to the tape, but will be submitted real-time to
NASD for regulatory purposes and, at the option of the user, to NSCC.
Proposed NASD Rule 4632D(e)(3)(B) \16\ would clarify that where the
media leg of the riskless principal transaction is reported to the
NASD/BSE TRF, the second, non-media leg must also be reported to the
NASD/BSE TRF. However, where the media leg of the riskless principal
transaction was previously reported by an exchange, the member would be
permitted, but not required, to report the second, non-media leg to the
NASD/BSE TRF. Members that choose to report such transactions to the
NASD/BSE TRF must include all data elements required under the rules.
Members should note, however, that transactions reported by an exchange
should not be reported to NASD/BSE TRF for media purposes, as that
would result in double reporting of the same transaction.\17\
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    \15\ A riskless principal transaction is a transaction in which
a member, after having received a customer order, executes an
offsetting transaction, as principal, with another customer or
broker-dealer to fill that customer order and both transactions are
executed at the same price.
    \16\ Proposed NASD Rule 4632D(e)(3)(B) mirrors recently proposed
amendments to NASD Rule 4632(d)(3)(B) of the NASD/Nasdaq TRF rules.
See September 2006 Proposal, supra note 3.
    \17\ Proposed NASD Rule 4632D(f)(6) provides that transactions
reported on or through an exchange shall not be reported to the
NASD/BSE TRF for purposes of publication. This proposed rule mirrors
NASD Rule 4632(e)(6) of the NASD/Nasdaq TRF rules. See NASD/Nasdaq
TRF Approval Order, supra note 3; Securities Exchange Act Release
Nos. 53977 (June 12, 2006), 71 FR 34976 (June 16, 2006) (order
approving File No SR-NASD-2006-055); and 54318 (August 15, 2006), 71
FR 48959 (August 22, 2006) (notice of filing and immediate
effectiveness of File No. SR-NASD-2006-098).
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    Finally, NASD will have the authority to halt trading otherwise
than on an exchange reported to the NASD/BSE TRF. The scope of NASD's
authority under proposed NASD Rule 4633D is identical to its authority
to halt trading reported to the NASD/Nasdaq TRF and the ADF.
    As described below, the proposed rules differ from the current
NASD/Nasdaq TRF rules in certain respects. Proposed NASD Rules 4100D
and 4200D(a)(2) define ``designated securities'' for purposes of
reporting trades to the NASD/BSE TRF as ``all NMS stocks as defined in
Rule 600(b)(47) of Regulation NMS under the Act.'' Currently, NASD
Rules 4100 and 4200(a)(2) define ``designated securities'' for purposes
of reporting trades to the NASD/Nasdaq TRF as all Nasdaq National
Market (now Nasdaq Global Market) and Nasdaq Capital Market securities
and convertible bonds listed on Nasdaq. NASD has filed a proposed rule
change to expand reporting to the NASD/Nasdaq TRF to include all
exchange-listed securities and to include a definition of ``designated
securities'' in NASD Rules 4100 and 4200(a)(2) that is identical to the
definition proposed herein.\18\
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    \18\ See September 2006 Proposal, supra note 3.
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    Pursuant to proposed NASD Rule 6120D, only members of NASD may use
the NASD/BSE TRF. Non-members will not be permitted to submit trade
reports to the NASD/BSE TRF. Under very limited circumstances, certain
Non-Member Clearing Organizations are granted access to and
participation in the NASD/Nasdaq TRF.
    Pursuant to proposed NASD Rule 6140D, all trades submitted to the
NASD/BSE TRF must be locked-in prior to entry into the System. The
NASD/BSE TRF will have no trade comparison functionality. Thus, there
are no proposed rules relating to trade matching, trade acceptance, or
aggregate volume matching. Similarly, there will be no ``Browse''
function, meaning that participants will not be able to review or query
for trades in the NASD/BSE TRF identifying the participant as a party
to the transaction.
    The NASD/BSE TRF will not be able to support trade reporting for
certain transactions. Specifically, transactions executed outside of
normal market hours cannot be reported to the NASD/BSE TRF on an ``as/
of'' or next day (T+1) basis, pursuant to NASD Rule 4632D(a)(2). In
addition, the NASD/BSE TRF will not support the .W or .PRP modifiers
and, therefore, proposed NASD Rule 4632D(a)(7) provides that Stop Stock
Transactions (as defined in NASD Rule 4200D), transactions at prices
based on average-weighting or other special pricing formulae, and
transactions that reflect a price different from the current market
when the execution price is based on a prior reference point in time
cannot be reported to the NASD/BSE TRF. Thus, proposed NASD Rules
4632D(a)(2) and (7) expressly require members to report such trades to
NASD via an alternative electronic mechanism.
    Similarly, proposed NASD Rule 4632D(a)(3) provides that
participants must use an alternative electronic mechanism, and comply
with all rules applicable to such alternative mechanism, to report
transactions to NASD for which electronic submission to the NASD/BSE
TRF is not possible. Where last sale reports of transactions in
designated securities cannot be submitted to NASD via an alternative
electronic mechanism, such as the ADF or another Trade Reporting
Facility (for example, where the ticker symbol for the security is no
longer available or a market participant identifier is no longer
active), members shall report such transactions as soon as practicable
to the NASD Market Regulation Department on Form T. Members are not to
use Form T to report transactions that can be reported to NASD
electronically, whether on trade date or on a subsequent date on an
``as of'' basis (T+N).
    Unlike the NASD/Nasdaq TRF, participants will be able to use three-
party reports for reporting trades to the

NASD/BSE TRF. A three-party trade report is a single last sale trade
report that denotes one Reporting Member (i.e., the member with the
obligation to report the trade under proposed NASD Rule 4632D(b)) and
two contra parties. Registered ECNs may submit three-party trade
reports. In addition, riskless principal trades may be submitted by
Reporting Members as three-party trade reports. Proposed NASD Rule
4632D(c) sets forth the information requirements for two-party reports,
while proposed NASD Rule 4632D(d) sets forth the information
requirements for three-party reports. Members currently can use three-
party reports for purposes of reporting trades to the ADF. Proposed
NASD Rules 4632D(c) and (d) mirror the existing ADF reporting
requirements relating to two- and three-party trade reports (see NASD
Rules 4632A(c) and (d)).
    As with the NASD/Nasdaq TRF, the NASD/BSE TRF will only accept non-
media or clearing-only trade reports for certain transactions; members
cannot submit reports for these transactions for publication. Proposed
NASD Rule 4632D(f) sets forth the types of transactions that cannot be
reported for purposes of publication to the NASD/BSE TRF. Proposed NASD
Rule 4632D(f) mirrors current NASD Rule 4632(e) of the NASD/Nasdaq TRF
rules and includes two additional categories of trades: (1) The
acquisition of securities by a member as principal in anticipation of
making an immediate exchange distribution or exchange offering on an
exchange; and (2) purchases of securities off the floor of an exchange
pursuant to a tender offer. NASD's proposed rule change to expand
reporting to the NASD/Nasdaq TRF for all exchange-listed securities
proposes to amend NASD Rule 4632(e) to include these two additional
categories of transactions.\19\ Thus, proposed NASD Rule 4632D(f) of
the NASD/BSE TRF will be identical to NASD Rule 4632(e) of the NASD/
Nasdaq TRF rules.
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    \19\ See September 2006 Proposal, supra note 3.
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    Cancellation of any trade that has been submitted to the NASD/BSE
TRF must be reported in accordance with proposed NASD Rule 4632D(g).
Unlike the NASD/Nasdaq TRF, members cannot electronically report trade
cancellations to the NASD/BSE TRF. Members must contact NASD/BSE Trade
Reporting Facility Operations, within the prescribed time periods, to
report the cancellation of any trade previously submitted to the NASD/
BSE TRF.
    Finally, members will not be permitted to aggregate individual
executions of orders in a security at the same price into a single
transaction report submitted to the NASD/BSE TRF. Thus, the proposed
rule change does not contain a counterpart to NASD Rule 4632(f) or NASD
Rule 6130(e) permitting ``bunched'' trades to be reported to the NASD/
Nasdaq TRF.
    NASD notes that the proposed rule change does not include any
proposed rules relating to fees, assessments, and credits specifically
related to the NASD/BSE TRF. Fees, assessments, and credits, if any,
with respect to the NASD/BSE TRF will be the subject of a future rule
filing with the Commission.
Proposed Implementation
    In light of the systems changes that are necessary for NASD to
implement the NASD/BSE TRF for non-Nasdaq exchange-listed securities,
NASD is proposing to implement the proposed rule change in two phases.
Specifically, NASD proposes to implement the proposed rule change with
respect to Nasdaq-listed equity securities and convertible debt on the
first day of operation of the NASD/BSE TRF. NASD proposes to implement
the proposed rule change with respect to non-Nasdaq exchange-listed
securities at a later date.
    NASD will announce the implementation date of the first phase of
the proposed rule change no later than 30 days following Commission
approval and the second phase no later than 90 days following
Commission approval.
2. Statutory Basis
    NASD believes that the proposed rule change is consistent with the
provisions of Section 15A(b)(6) of the Act,\20\ which requires, among
other things, that NASD rules be 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. NASD believes that establishment of the NASD/BSE TRF
is in the public interest and appropriate for the protection of
investors and the maintenance of fair and orderly markets because it
will provide members another mechanism to report transactions in
exchange-listed securities effected otherwise than on an exchange.
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    \20\ 15 U.S.C. 78o-3(b)(6).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    NASD 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.

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

    Within 35 days of the date of publication of this notice in the
Federal Register or within such longer period (i) As the Commission may
designate up to 90 days of such date if it finds such longer period to
be appropriate and publishes its reasons for so finding or (ii) as to
which the self-regulatory organization consents, the Commission will:
    A. By order approve such proposed rule change; or
    B. Institute proceedings to determine whether the proposed rule
change should be disapproved.

 IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form http://www.sec.gov/rules/sro.shtml.
; or     Send an e-mail to<EMAIL_ADDRESS>Please include

File No. SR-NASD-2006-115 on the subject line.

Paper Comments

     Send paper comments in triplicate to Nancy M. Morris,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-1090.
    All submissions should refer to File Number SR-NASD-2006-115. This
file number should be included on the subject line if e-mail is used.
To help the Commission process and review your comments more
efficiently, please use only one method. The Commission will post all
comments on the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml
). Copies of the submission, all subsequent amendments,

all written statements with respect to the proposed rule change that
are filed with the Commission, and all written communications relating
to the proposed rule change between the Commission and any person,
other than those that may be withheld from the

public in accordance with the provisions of 5 U.S.C. 552, will be
available for inspection and copying in the Commission's Public
Reference Room. Copies of such filing also will be available for
inspection and copying at the principal office of NASD. All comments
received will be posted without change; the Commission does not edit
personal identifying information from submissions. You should submit
only information that you wish to make available publicly. All
submissions should refer to File Number SR-NASD-2006-115 and should be
submitted on or before November 8, 2006.

    For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\21\
---------------------------------------------------------------------------

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

J. Lynn Taylor,
Assistant Secretary.
 [FR Doc. E6-17319 Filed 10-17-06; 8:45 am]

BILLING CODE 8011-01-P


[Federal Register: November 19, 2007 (Volume 72, Number 222)]
[Proposed Rules]
[Page 64955-64957]
[DOCID:fr19no07-14]

========================================================================
Proposed Rules
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains notices to the public of
the proposed issuance of rules and regulations. The purpose of these
notices is to give interested persons an opportunity to participate in
the rule making prior to the adoption of the final rules.

========================================================================

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. FAA-2007-0202; Directorate Identifier 2007-NM-185-AD]
RIN 2120-AA64

Airworthiness Directives; Boeing Model 737-600, 737-700, 737-
700C, 737-800, and 737-900 Series Airplanes

AGENCY: Federal Aviation Administration (FAA), Department of
Transportation (DOT).

ACTION: Notice of proposed rulemaking (NPRM).

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

SUMMARY: The FAA proposes to adopt a new airworthiness directive (AD)
for certain Boeing Model 737-600, 737-700, 737-700C, 737-800, and 737-
900 series airplanes. This proposed AD would require an inspection of
the vertical fin lugs, skin, and skin edges for discrepancies, an
inspection of the flight control cables, fittings, and pulleys in
section 48 for signs of corrosion, an inspection of the horizontal
stabilizer jackscrew, ball nut, and gimbal pins for signs of corrosion,
and corrective actions if necessary. This proposed AD results from
reports indicating that moisture was found within the section 48
cavity. We are proposing this AD to ensure that the correct amount of
sealant was applied around the vertical fin lugs, skin and the skin
edges. Missing sealant could result in icing of the elevator cables,
which could cause a system jam and corrosion of structural and flight
control parts, resulting in reduced controllability of the airplane.

DATES: We must receive comments on this proposed AD by January 3, 2008.

ADDRESSES: You may send comments by any of the following methods:
     Federal eRulemaking Portal: Go to http://
www.regulations.gov. Follow the instructions for submitting comments.
     Fax:<PHONE_NUMBER>.
     Mail: U.S. Department of Transportation, Docket
Operations, M-30, West Building Ground Floor, Room W12-140, 1200 New
Jersey Avenue, SE., Washington, DC 20590.
     Hand Delivery: U.S. Department of Transportation, Docket
Operations, M-30, West Building Ground Floor, Room W12-140, 1200 New
Jersey Avenue, SE., Washington, DC 20590, between 9 a.m. and 5 p.m.,
Monday through Friday, except Federal holidays.
    For service information identified in this AD, contact Boeing
Commercial Airplanes, P.O. Box 3707, Seattle, Washington 98124-2207.

Examining the AD Docket

    You may examine the AD docket on the Internet at http://
www.regulations.gov; or in person at the Docket Management Facility
between 9 a.m. and 5 p.m., Monday through Friday, except Federal
holidays. The AD docket contains this proposed AD, the regulatory
evaluation, any comments received, and other information. The street
address for the Docket Office (telephone<PHONE_NUMBER>) is in the
ADDRESSES section. Comments will be available in the AD docket shortly
after receipt.

FOR FURTHER INFORMATION CONTACT: Wayne Lockett, Aerospace Engineer,
Airframe Branch, ANM-120S, FAA, Seattle Aircraft Certification Office,
1601 Lind Avenue, SW., Renton, Washington 98057-3356; telephone (425)
917-6447; fax<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Comments Invited

    We invite you to send any written relevant data, views, or
arguments about this proposed AD. Send your comments to an address
listed under the ADDRESSES section. Include ``Docket No. FAA-2007-0202;
Directorate Identifier 2007-NM-185-AD'' at the beginning of your
comments. We specifically invite comments on the overall regulatory,
economic, environmental, and energy aspects of this proposed AD. We
will consider all comments received by the closing date and may amend
this proposed AD because of those comments.
    We will post all comments we receive, without change, to http://
www.regulations.gov, including any personal information you provide. We
will also post a report summarizing each substantive verbal contact we
receive about this proposed AD.

Discussion

    We have received reports indicating that moisture was found within
the section 48 cavity on Boeing Model 737-600, 737-700, 737-700C, 737-
800, and 737-900 series airplanes. A root-cause investigation
determined that, due to a manufacturing process error, airplanes were
delivered with an incorrect amount of sealant around the station (STA)
1088 vertical fin lugs common to the section 48 skin. This condition,
if not corrected, could result in icing of the elevator cables, which
could cause a system jam and corrosion of structural and flight control
parts, resulting in reduced controllability of the airplane.

Relevant Service Information

    We have reviewed Boeing Service Bulletin 737-53A1242, Revision 2,
dated April 23, 2007. The service bulletin describes the following
procedures:
     Inspecting the vertical fin lugs, skin, and skin edges for
discrepancies (i.e. water ingress, corrosion damage, and missing,
insufficient, or cracked sealant).
     Performing a detailed inspection of the flight control
cables, fittings, and pulleys in section 48 for signs of corrosion.
     Performing a detailed inspection of the horizontal
stabilizer jackscrew, ball nut, and gimbal pins for signs of corrosion.
     Performing applicable corrective actions. The corrective
actions include repairing cracks, filling the space between the
vertical fin lugs and skin, lubricating the horizontal stabilizer trim
actuator and actuator gimbal pins, replacing any cracked sealant with a
new sealant, and contacting Boeing for corrosion repair conditions, as
applicable.
    Accomplishing the actions specified in the service information is
intended to adequately address the unsafe condition.

FAA's Determination and Requirements of the Proposed AD

    We have evaluated all pertinent information and identified an
unsafe condition that is likely to exist or develop on other airplanes
of this same type design. For this reason, we are proposing this AD,
which would require accomplishing the actions specified in the service
information described

previously, except as discussed under ``Difference Between the Proposed
AD and Service Bulletin.''

Difference Between the Proposed AD and Service Bulletin

    In this proposed AD, the ``inspection'' and ``visual inspection''
specified in the Boeing service bulletin is referred to as a ``detailed
inspection.'' We have included the definition for a detailed inspection
in a note in the proposed AD.
    The service bulletin specifies to contact the manufacturer for
instructions on how to repair certain conditions, but this proposed AD
would require repairing those conditions in one of the following ways:
     Using a method that we approve; or
     Using data that meet the certification basis of the
airplane, and that have been approved by an Authorized Representative
for the Boeing Commercial Airplanes Delegation Option Authorization
Organization whom we have authorized to make those findings.

Costs of Compliance

    There are about 829 airplanes of the affected design in the
worldwide fleet. This proposed AD would affect about 372 airplanes of
U.S. registry. The proposed actions would take about 1 work hour per
airplane, at an average labor rate of $80 per work hour. Based on these
figures, the estimated cost of the proposed AD for U.S. operators is
$29,760, or $80 per airplane.

Authority for This Rulemaking

    Title 49 of the United States Code specifies the FAA's authority to
issue rules on aviation safety. Subtitle I, Section 106, describes the
authority of the FAA Administrator. Subtitle VII, Aviation Programs,
describes in more detail the scope of the Agency's authority.
    We are issuing this rulemaking under the authority described in
Subtitle VII, Part A, Subpart III, Section 44701, ``General
requirements.'' Under that section, Congress charges the FAA with
promoting safe flight of civil aircraft in air commerce by prescribing
regulations for practices, methods, and procedures the Administrator
finds necessary for safety in air commerce. This regulation is within
the scope of that authority because it addresses an unsafe condition
that is likely to exist or develop on products identified in this
rulemaking action.

Regulatory Findings

    We have determined that this proposed AD would not have federalism
implications under Executive Order 13132. This proposed AD would not
have a substantial direct effect on the States, on the relationship
between the national Government and the States, or on the distribution
of power and responsibilities among the various levels of government.
    For the reasons discussed above, I certify that the proposed
regulation:
    1. Is not a ``significant regulatory action'' under Executive Order
12866;
    2. Is not a ``significant rule'' under the DOT Regulatory Policies
and Procedures (44 FR 11034, February 26, 1979); and
    3. Will not have a significant economic impact, positive or
negative, on a substantial number of small entities under the criteria
of the Regulatory Flexibility Act.
    We prepared a regulatory evaluation of the estimated costs to
comply with this proposed AD and placed it in the AD docket. See the
ADDRESSES section for a location to examine the regulatory evaluation.

List of Subjects in 14 CFR Part 39

    Air transportation, Aircraft, Aviation safety, Safety.

The Proposed Amendment

    Accordingly, under the authority delegated to me by the
Administrator, the FAA proposes to amend 14 CFR part 39 as follows:

PART 39--AIRWORTHINESS DIRECTIVES

    1. The authority citation for part 39 continues to read as follows:

    Authority: 49 U.S.C. 106(g), 40113, 44701.

Sec.  39.13  [Amended]

    2. The Federal Aviation Administration (FAA) amends Sec.  39.13 by
adding the following new airworthiness directive (AD):

Boeing: Docket No. FAA-2007-0202; Directorate Identifier 2007-NM-
185-AD.

Comments Due Date

    (a) The FAA must receive comments on this AD action by January
3, 2008.

Affected ADs

    (b) None.

Applicability

    (c) This AD applies to certain Boeing Model 737-600, 737-700,
737-700C, 737-800, and 737-900 series airplanes, certificated in any
category; as identified in Boeing Service Bulletin 737-53A1242,
Revision 2, dated April 23, 2007.

Unsafe Condition

    (d) This AD results from reports indicating that moisture was
found within the section 48 cavity. We are issuing this AD to ensure
that the correct amount of sealant was applied around the vertical
fin lugs, skin and the skin edges. Missing sealant could result in
icing of the elevator cables, which could cause a system jam and
corrosion of structural and flight control parts, resulting in
reduced controllability of the airplane.

Compliance

    (e) You are responsible for having the actions required by this
AD performed within the compliance times specified, unless the
actions have already been done.

Inspections

    (f) Within 2,500 flight cycles or 18 months after the effective
date of this AD, whichever occurs first, do the detailed inspections
specified in paragraphs (f)(1), (f)(2) and (f)(3) of this AD in
accordance with the Accomplishment Instructions of the Boeing
Service Bulletin 737-53A1242, Revision 2, dated April 23, 2007.
    (1) Do a detailed inspection of the vertical fin lugs, skin, and
skin edges for discrepancies (i.e. water ingress, corrosion damage,
and missing, insufficient, or cracked sealant).
    (2) Do a detailed inspection of the flight control cables,
fittings, and pulleys in section 48 for signs of corrosion.
    (3) Do a detailed inspection of the horizontal stabilizer
jackscrew, ball nut, and gimbal pins for signs of corrosion.

    Note 1: For the purposes of this AD, a detailed inspection is:
``An intensive visual examination of a specific structural area,
system, installation, or assembly to detect damage, failure, or
irregularity. Available lighting is normally supplemented with a
direct source of good lighting at intensity deemed appropriate by
the inspector (i.e., the person performing the inspection).
Inspection aids such as mirror, magnifying lenses, etc., may be
used. Surface cleaning and elaborate access procedures may be
required.''

Corrective Actions

    (g) If any discrepancy or corrosion is found during any
inspection required by paragraph (f) of this AD, before further
flight, do the applicable corrective actions in accordance with the
Accomplishment Instructions of Boeing Service Bulletin 737-53A1242,
Revision 2, dated April 23, 2007; except where the service bulletin
specifies to contact Boeing, repair using a method approved in
accordance with the procedures specified in paragraph (i) of this
AD.

Credit for Actions Done Using the Previous Service Information

    (h) Actions accomplished before the effective date of this AD in
accordance with Boeing Service Bulletin 737-53A1242, dated October
17, 2002; and Revision 1, dated April 28, 2005; are considered
acceptable for compliance with the corresponding actions specified
in paragraphs (f) and (g) of this AD.

Alternative Methods of Compliance (AMOCs)

    (i)(1) The Manager, Seattle Aircraft Certification Office (ACO),
FAA, has the authority to approve AMOCs for this AD, if requested in
accordance with the procedures found in 14 CFR 39.19.

    (2) To request a different method of compliance or a different
compliance time for this AD, follow the procedures in 14 CFR 39.19.
Before using any approved AMOC on any airplane to which the AMOC
applies, notify your appropriate principal inspector (PI) in the FAA
Flight Standards District Office (FSDO), or lacking a PI, your local
FSDO.
    (3) An AMOC that provides an acceptable level of safety may be
used for any repair required by this AD, if it is approved by an
Authorized Representative for the Boeing Commercial Airplanes
Delegation Option Authorization Organization who has been authorized
by the Manager, Seattle ACO, to make those findings. For a repair
method to be approved, the repair must meet the certification basis
of the airplane, and the approval must specifically refer to this
AD.

    Issued in Renton, Washington, on November 7, 2007.
Ali Bahrami,
Manager, Transport Airplane Directorate, Aircraft Certification
Service.
[FR Doc. E7-22548 Filed 11-16-07; 8:45 am]

BILLING CODE 4910-13-P


10.18.2006

Call with FL DEP re: FL Pharmaceutical Universal Waste Rule

Participants:

Lisa Lauer, US EPA OSW

Meg McCarthy, US EPA OSW

Augusta Posner, FL DEP

Mike Redig, FL DEP

Susan Horlick, FL DEP

Summary:

FL is limiting the rule to pharmaceuticals only.  FL says that under their UWR, contaminated/adulterated pharmaceuticals (for example drugs swept off the floor) cannot be universal waste and must be sent with the hazardous waste.  Florida did not receive many comments from hospitals on the proposal.  Positive comments from reverse distributors were received.


[Federal Register Volume 86, Number 142 (Wednesday, July 28, 2021)]
[Notices]
[Pages 40554-40555]
[FR Doc No: 2021-16063]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. IC21-24-000]

Commission Information Collection Activities (FERC-537); Comment
Request; Extension

AGENCY: Federal Energy Regulatory Commission, Department of Energy.

ACTION: Notice of information collection and request for comments.

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

SUMMARY: In compliance with the requirements of the Paperwork Reduction
Act of 1995, the Federal Energy Regulatory Commission (Commission or
FERC) is soliciting public comment on a renewal of currently approved
information collection, FERC-537 (Gas Pipeline Certificates:
Construction, Acquisition, and Abandonment), which will be submitted to
the Office of Management and Budget (OMB) for review.

DATES: Comments on the collection of information are due August 27,
2021.

ADDRESSES: Send written comments on FERC-537 to OMB through
www.reginfo.gov/public/do/PRAMain. Attention: Federal Energy Regulatory
Commission Desk Officer. Please identify the OMB Control Number (1902-
0060) in the subject line of your comments. Comments should be sent
within 30 days of publication of this notice to www.reginfo.gov/public/do/PRAMain.
    Please submit copies of your comments to the Commission. You may
submit copies of your comments (identified by Docket No. IC21-24-000)
by one of the following methods:
    Electronic filing through http://www.ferc.gov, is preferred.
     Electronic Filing: Documents must be filed in acceptable
native applications and print-to-PDF, but not in scanned or picture
format.
     For those unable to file electronically, comments may be
filed by USPS mail or by hand (including courier) delivery.
    [cir] Mail via U.S. Postal Service Only: Addressed to: Federal
Energy Regulatory Commission, Secretary of the Commission, 888 First
Street NE, Washington, DC 20426.
    [cir] Hand (Including Courier) Delivery: Deliver to: Federal Energy
Regulatory Commission, 12225 Wilkins Avenue, Rockville, MD 20852.
    Instructions: OMB submissions must be formatted and filed in
accordance with submission guidelines at www.reginfo.gov/public/do/PRAMain. Using the search function under the ``Currently Under Review''
field, select Federal Energy Regulatory Commission; click ``submit,''
and select ``comment'' to the right of the subject collection.
    FERC submissions must be formatted and filed in accordance with
submission guidelines at: http://www.ferc.gov. For user assistance,
contact FERC Online Support by email at<EMAIL_ADDRESS>or
by phone at:<PHONE_NUMBER> (toll-free).
    Docket: Users interested in receiving automatic notification of
activity in this docket or in viewing/downloading comments and
issuances in this docket may do so at https://www.ferc.gov/ferc-online/overview.

FOR FURTHER INFORMATION CONTACT: Ellen Brown may be reached by email at
<EMAIL_ADDRESS>telephone at<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:
    Title: FERC-537 (Gas Pipeline Certificates: Construction,
Acquisition, and Abandonment).
    OMB Control No.: 1902-0060.
    Type of Request: Three-year extension of the FERC-537 information
collection requirements with no changes to the reporting requirements.
    Abstract: The FERC-537 information collection requires natural gas
companies to file the necessary information with FERC in order for the
Commission to determine if the requested certificate should be
authorized. The data required to be submitted in a normal certificate
filing consists of identification of the company and responsible
officials, factors considered in the location of the facilities and the
impact on the area for environmental considerations. Also to be
submitted are the following, as applicable to the specific request:
     Flow diagrams showing the design capacity for engineering
design verification and safety determination;
     Cost of proposed facilities, plans for financing, and
estimated revenues and expenses related to the proposed facility for
accounting and financial evaluation.
     Existing and proposed storage capacity and pressures and
reservoir engineering studies for requests to increase storage
capacity;
     An affidavit showing the consent of existing customers for
abandonment of service requests.
    Certain self-implementing construction and abandonment programs do
not require the filing of applications. However, those types of
programs do require the filing of annual reports, so many less
significant actions can be reported in a single filing/response and
less detail would be

required. Additionally, requests for an increase of pipeline capacity
must include a statement that demonstrates compliance with the
Commission's Certificate Policy Statement by making a showing that the
cost of the expansion will not be subsidized by existing customers and
that there will not be adverse economic impacts to existing customers,
competing pipelines or their customers, nor to landowners and to
surrounding communities.
    The Commission reviews and analyses the information filed under the
regulations subject to FERC-537 to determine whether to approve or deny
the requested authorization. If the Commission failed to collect these
data, it would lose its ability to review relevant information to
determine whether the requested certificate should be authorized. The
60-day notice published on May 21, 2021 \1\ and received no comments.
---------------------------------------------------------------------------

    \1\ 86 FR 27589.
---------------------------------------------------------------------------

    Type of Respondents: Jurisdictional natural gas companies.
    Estimate of Annual Burden \2\: The Commission estimates the annual
public reporting burden for the information collection as:
---------------------------------------------------------------------------

    \2\ Burden is defined as 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. Refer to
5 CFR 1320.3 for additional information.

                                  FERC-537 (Gas Pipeline Certificates: Construction, Acquisition, and Abandonment) \3\
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                        Annual number                                             Total average  annual      Cost per
                                          Number of     of  responses   Total number    Average annual burden &   burden  hours & total     respondent
                                         respondents   per respondent   of  responses    cost per response \4\         annual  cost             ($)
                                                  (1)             (2)     (1) * (2) =  (4).....................  (3) * (4) = (5)........   (5) / (1) \5\
                                                                                (3)
--------------------------------------------------------------------------------------------------------------------------------------------------------
18 CFR 157.5-.11 (Interstate                       31            1.39           43.09  500 hrs.; $41,500.......  21,545 hrs; $1,788,235.         $57,685
 Certificate and Abandonment
 Applications).
18 CFR 157.53 (Pipeline Purging/                    1               1               1  50 hrs.; $4,150.........  50 hrs.; $4,150........           4,150
 Testing Exemptions).
18 CFR 157.201-.209; 157.211; 157.214-             24           2.125              51  200 hrs.; $16,600.......  10,200 hrs.; $846,600..          35,275
 .218 (Blanket Certificates Prior to
 Notice Filings).
18 CFR 157.201-.209; 157.211; 157.214-            162               1             162  50 hrs.; $4,150.........  8,100 hrs.; $672,300...           4,150
 .218 (Blanket Certificates--Annual
 Reports).
18 CFR 284.11 (NGPA Section 311                    75               1              75  50 hrs.; $4,150.........  3,750 hrs.; $311,250...           4,150
 Construction--Annual Reports).
18 CFR 284.8 \6\ (Request for Waiver               31            1.39           43.09  10 hrs.; $830...........  430.90 hrs.; $35,764.70        1,153.70
 of Capacity Release Regulations).
18 CFR 284.13(e) and 284.126(a)                     2               1               2  30 hrs.; $2,490.........  60 hrs.; $4,980........           2,490
 (Interstate and Intrastate Bypass
 Notice).
18 CFR 284.221 (Blanket Certificates)               1               1               1  100 hrs.; $8,300........  100 hrs.; $8,300.......           8,300
18 CFR 284.224 (Hinshaw Blanket                     1               1               1  75 hrs.; $6,225.........  75 hrs.; $6,225........           6,225
 Certificates).
18 CFR 157.5-.11; 157.13-.20 (Non-                 11            1.36           14.96  75 hrs.; $6,225.........  1,122 hrs.; $93,126....           8,466
 facility Certificate or Abandonment
 Applications.
                                      ------------------------------------------------------------------------------------------------------------------
    Total............................  ..............  ..............          394.14  ........................  45,432.90 hrs.;          ..............
                                                                                $3,770,930.70.
--------------------------------------------------------------------------------------------------------------------------------------------------------

    Comments: Comments are invited on: (1) Whether the collection of
information is necessary for the proper performance of the functions of
the Commission, including whether the information will have practical
utility; (2) the accuracy of the agency's estimate of the burden and
cost of the collection of information, including the validity of the
methodology and assumptions used; (3) ways to enhance the quality,
utility and clarity of the information collection; and (4) ways to
minimize the burden of the collection of information on those who are
to respond, including the use of automated collection techniques or
other forms of information technology.
---------------------------------------------------------------------------

    \3\ Changes to estimated number of respondents were based on
average number of respondents over the past three years.
    \4\ The estimates for cost per response are derived using the
following formula: Average Burden Hours per Response * $83.00/hour =
Average cost/response. The figure is the 2020 FERC average hourly
cost (for wages and benefits) of $83.00 (and an average annual
salary of $172,329/year). Commission staff is using the FERC average
salary because we consider any reporting requirements completed in
response to the FERC-537 to be compensated at rates similar to the
work of FERC employees.
    \5\ Each of the figures in this column are rounded to the
nearest dollar.
    \6\ A Certificate Abandonment Application would require waiver
of the Commission's capacity release regulations in 18 CFR 284.8;
therefore this activity is associated with Interstate Certificate
and Abandonment Applications.

    Dated: July 22, 2021.
Debbie-Anne A. Reese,
Deputy Secretary.
[FR Doc. 2021-16063 Filed 7-27-21; 8:45 am]
BILLING CODE 6717-01-P