[Federal Register Volume 78, Number 33 (Tuesday, February 19, 2013)]
[Notices]
[Pages 11637-11638]
[FR Doc No: 2013-03699]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. CP13-3-000]

Tennessee Gas Pipeline Company, L.L.C.; Notice of Availability of
the Environmental Assessment for the Proposed Rose Lake Expansion
Project

    The staff of the Federal Energy Regulatory Commission (FERC or
Commission) has prepared an environmental assessment (EA) for the Rose
Lake Expansion Project, proposed by Tennessee Gas Pipeline Company,
L.L.C. (TGP) in the above-referenced docket. TGP requests authorization
to construct compressor facilities in Tioga and Bradford Counties,
Pennsylvania to provide up to 230,000 dekatherms per day of natural gas
delivery capacity to the northeast region.
    The EA assesses the potential environmental effects of the
construction and operation of the Rose Lake Expansion Project in
accordance with the requirements of the National Environmental Policy
Act. The FERC staff concludes that approval of the proposed project,
with appropriate mitigating measures, would not constitute a major
federal action significantly affecting the quality of the human
environment.
    The proposed Rose Lake Expansion Project includes the following
modifications at three existing compressor stations along TGP's 300
Line:
     Installing a 12,630-horsepower (hp) turbine-compressor
package at Compressor Station 315 near Wellsboro, Tioga County;
     Abandoning by removal an existing compressor and replacing
it with a new compressor at Compressor Station 317 near Troy, Bradford
County;
     Abandoning in place two existing 4,500-hp compressor units
and replacing them with a new 16,000-hp turbine-compressor package at
Compressor Station 319 near Wyalusing, Bradford County; and
     Installing ancillary equipment and piping modifications at
Compressor Stations 315, 317, and 319.
    The FERC staff mailed copies of the EA to federal, state, and local
government representatives and agencies; elected officials;
environmental and public interest groups; Native American tribes;
potentially affected landowners and other interested individuals and
groups; newspapers and libraries in the project area; and parties to
this proceeding.
    In addition, the EA is available for public viewing on the FERC's
Web site (www.ferc.gov) using the eLibrary link. A limited number of
copies of the EA are available for distribution and public inspection
at: Federal Energy Regulatory Commission, Public Reference Room, 888
First Street NE., Room 2A, Washington, DC 20426,<PHONE_NUMBER>.
    Any person wishing to comment on the EA may do so. Your comments
should focus on the potential environmental effects, reasonable
alternatives, and measures to avoid or lessen environmental impacts.
The more specific your comments, the more useful they will be. To
ensure that the Commission has the opportunity to consider your
comments prior to making its decision on this project, it is important
that we receive your comments in Washington, DC on or before March 14,
2013.
    For your convenience, there are three methods you can use to file
your comments to the Commission. In all instances, please reference the
project docket number (CP13-3-000) with your submission. The Commission
encourages electronic filing of comments and has expert staff available
to assist you at<PHONE_NUMBER> or<EMAIL_ADDRESS>    (1) You can file your comments electronically using the eComment
feature on the Commission's Web site (www.ferc.gov) under the link to
Documents and Filings. This is an easy method for submitting brief,
text-only comments on a project;
    (2) You can also file your comments electronically using the
eFiling feature on the Commission's Web site (www.ferc.gov) under the
link to Documents and Filings. With eFiling, you can provide comments
in a variety of formats by attaching them as a file with your
submission. New eFiling users must first create an account by clicking
on ``eRegister.'' You must select the type of filing you are making. If
you are filing a comment on a particular project, please select
``Comment on a Filing''; or
    (3) You can file a paper copy of your comments by mailing them to
the following address: Kimberly D. Bose, Secretary, Federal Energy
Regulatory Commission, 888 First Street NE., Room 1A, Washington, DC
20426.
    Any person seeking to become a party to the proceeding must file a
motion to intervene pursuant to Rule 214 of the Commission's Rules of
Practice and Procedures (18 CFR 385.214).\1\ Only intervenors have the
right to seek rehearing of the Commission's decision. The Commission
grants affected landowners and others with environmental concerns
intervenor status upon showing good cause by stating that they have a
clear and direct interest in this proceeding which no other party can
adequately represent. Simply filing environmental comments will not
give you intervenor status, but you do not need intervenor status to
have your comments considered.
---------------------------------------------------------------------------

    \1\ See the previous discussion on the methods for filing
comments.
---------------------------------------------------------------------------

    Additional information about the project is available from the
Commission's Office of External Affairs, at (866) 208-FERC, or on the
FERC Web site (www.ferc.gov) using the eLibrary link. Click on the
eLibrary link, click on ``General Search,'' and enter the docket number
excluding the last three digits in the Docket Number field (i.e., CP13-
3).

Be sure you have selected an appropriate date range. For assistance,
please contact FERC Online Support at<EMAIL_ADDRESS>or
toll free at<PHONE_NUMBER>, or for TTY, contact<PHONE_NUMBER>. The
eLibrary link also provides access to the texts of formal documents
issued by the Commission, such as orders, notices, and rulemakings.
    In addition, the Commission offers a free service called
eSubscription which allows you to keep track of all formal issuances
and submittals in specific dockets. This can reduce the amount of time
you spend researching proceedings by automatically providing you with
notification of these filings, document summaries, and direct links to
the documents. Go to www.ferc.gov/esubscribenow.htm.

    Dated: February 12, 2013.
Kimberly D. Bose,
Secretary.
[FR Doc. 2013-03699 Filed 2-15-13; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 80, Number 157 (Friday, August 14, 2015)]
[Notices]
[Pages 48887-48888]
[FR Doc No: 2015-20010]

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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

[Docket No. USCG-2015-0673]

Commercial Fishing Safety Advisory Committee

AGENCY: Coast Guard, Department of Homeland Security.

ACTION: Notice of Federal Advisory Committee Meeting.

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SUMMARY: The Commercial Fishing Safety Advisory Committee will meet in
Seattle, Washington to discuss various issues relating to safety in the
commercial fishing industry. This meeting will be open to the public.

DATES: The Committee will meet on Tuesday, September 15 and Wednesday,
September 16, 2015, from 8 a.m. to 5:30 p.m. The meeting may close
early if all business is finished.

ADDRESSES: The Committee will meet at the United States District Court
House

located at 700 Stewart Street, Seattle, Washington, Room 19205. http://www.wawd.uscourts.gov/visitors/seattle-courthouse.
    If you are planning to attend the meeting, you will be required to
pass through a security checkpoint. You will be required to show valid
government identification. Please arrive at least 30 minutes before the
planned start of the meeting in order to pass through security.
    For information on facilities or services for individuals with
disabilities or to request special assistance at the meeting, contact
the person listed in the FOR FURTHER INFORMATION CONTACT section, as
soon as possible.
    To facilitate public participation, we are inviting public comment
on the issues to be considered by the Committee as listed in the
``Agenda'' section below. Written comments must be submitted no later
than September 4, 2015 if you want Committee members to be able to
review your comments before the meeting. Comments must be identified by
docket number USCG-2015-0673, and submitted by one of the following
methods:
     Federal Electronic Rulemaking Portal: http://www.regulations.gov (preferred method to avoid delays in processing).
     Mail: Docket Management Facility (M-30), United States
Department of Transportation, West Building Ground Floor, Room W12-140,
1200 New Jersey Avenue SE., Washington, District of Columbia 20590-
0001.
     Facsimile:<PHONE_NUMBER>
     Hand Delivery: Same as mail address above, between 9 a.m.
and 5 p.m., Monday through Friday, except Federal Holidays. The
telephone number is<PHONE_NUMBER>.
    Instructions: All submissions received must include the words
``Department of Homeland Security'' and docket number for this action.
Comments received will be posted without alteration at
www.regulations.gov, including any personal information provided. You
may review a Privacy Act notice regarding our public dockets in the
January 17, 2008 issue of the Federal Register (73 FR 3316).
    Docket: For access to the docket to read documents or comments
related to this notice, go to http://www.regulations.gov, enter the
docket number in the ``SEARCH'' box, press Enter and then click on the
item you wish to view.
    Public oral comment periods will be held during the meeting after
each presentation and at the end of each day. Speakers are requested to
limit their comments to 3 minutes. Please note that the public oral
comment periods may end before the prescribed ending time following the
last call for comments. Contact Jack Kemerer as indicated below to
register as a speaker.

FOR FURTHER INFORMATION CONTACT: Jack Kemerer, Alternate Designated
Federal Officer of Commercial Fishing Safety Advisory Committee,
Commandant (CG-CVC-3), United States Coast Guard Headquarters, 2703
Martin Luther King Junior Avenue SE., Mail Stop 7501, Washington, DC
20593-7501; telephone<PHONE_NUMBER>, facsimile<PHONE_NUMBER>, electronic
mail<EMAIL_ADDRESS>If you have any questions on viewing or
submitting material to the docket, call Cheryl Collins, Program
Manager, Docket Operations, telephone<PHONE_NUMBER> or 1-800-647-5527.

SUPPLEMENTARY INFORMATION: Notice of this meeting is given under the
Federal Advisory Committee Act, Title 5 United States Code, Appendix.
    The Commercial Fishing Safety Advisory Committee is authorized by
Title 46 United States Code Section 4508. The Committee's purpose is to
provide advice and recommendations to the United States Coast Guard and
the Department of Homeland Security on matters relating to the safety
of commercial fishing industry vessels.
    A copy of available meeting documentation should be posted to the
docket, as noted above, and at http://fishsafe.info/ by August 31,
2015. Post-meeting documentation will be posted to the Web site within
30 days after the meeting, or as soon as possible. Alternatively, you
may contact Jack Kemerer as noted in the FOR FURTHER INFORMATION
CONTACT section above.

Agenda

    The Commercial Fishing Safety Advisory Committee will meet to
review, discuss and formulate recommendations on topics contained in
the agenda:

Day 1

    The meeting will include administrative matters, reports,
presentations, discussions, and Subcommittee/working group sessions as
follows:
    (1) Swearing-in of new members, election of Chair and Vice-Chair,
and completion of Department of Homeland Security Form 420 by Special
Government Employee members.
    (2) Status of Commercial Fishing Vessel Safety Rulemaking projects
resulting from requirements set forth in the Coast Guard Authorization
Act of 2010 and the Coast Guard and Maritime Transportation Act of
2012.
    (3) Coast Guard District Commercial Fishing Vessel Safety
Coordinator reports on activities and initiatives.
    (4) Industry Representative updates on safety and survival
equipment, and classification of fishing vessels.
    (5) Presentation and discussion on casualties by regions and
fisheries and update on safety and risk reduction-related projects by
the National Institute for Occupational Safety and Health.
    (6) Presentation and discussion on tonnage and documentation
issues.
    (7) Subcommittee/working group sessions, as time allows, on (a)
standards for alternative safety compliance program(s) development, (b)
definitions and safety equipment requirements that should be considered
in future rulemaking projects, and (c) requirements of the
International Convention on Standards of Training, Certification and
Watchkeeping for Fishing Vessel Personnel, 1995.
    (8) Public comment period.
    (9) Adjournment of meeting.
    There will be a comment period for Commercial Fishing Safety
Advisory Committee members and a comment period for the public after
each presentation and discussion. The Committee will review the
information presented on any issues, deliberate on any recommendations
presented in Subcommittee reports, and formulate recommendations for
the Department's consideration.

Day 2

    The meeting will primarily be dedicated to continuing Subcommittee/
working group sessions, but will also include:
    (1) Reports and recommendations from Subcommittees/working groups
to the full committee for discussion, deliberation, and adoption for
presentation to the Coast Guard as determined by committee voting. The
public will have opportunity to comment on reports and discussions
prior to the committee taking action on such reports or
recommendations.
    (2) Other safety recommendations and safety program strategies from
the Committee.
    (3) Public comment period.
    (4) Future plans and goals for the Committee.
    (5) Adjournment of meeting.

    Dated: August 5, 2015.
V.B. Gifford,
Captain, U.S. Coast Guard, Director of Inspections and Compliance.
[FR Doc. 2015-20010 Filed 8-13-15; 8:45 am]
 BILLING CODE 9110-04-P


[Federal Register Volume 88, Number 66 (Thursday, April 6, 2023)]
[Notices]
[Pages 20546-20547]
[FR Doc No: 2023-07148]

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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

[Docket Number USCG-2023-0100]

Consolidation of Redundant Coast Guard Boat Stations

AGENCY: Coast Guard, DHS.

ACTION: Request for comments.

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SUMMARY: The Coast Guard requests public comments on the planned
consolidation of three redundant, seasonally operated Coast Guard boat
stations and the seasonalization of one Coast Guard boat station. As
modern boat operating speeds rise and navigation technology improves,
the Coast Guard can respond to incidents with multiple units
significantly faster than when these boat stations were first
established. The combination of significantly improved response times,
along with an overall reduction in rescue calls due to boating safety
improvements throughout the Nation, has resulted in a number of boat
stations becoming redundant. This consolidation will result in a more
robust response system by increasing staffing levels and capacity at
select nearby boat stations. The seasonalization of a unit shifts the
Coast Guard's response to Search and Rescue cases from a more robustly
staffed nearby boat station during the winter months.

DATES: Written comments and related material may be submitted to the
Coast Guard personnel specified below. Your comments and related
material must reach the Coast Guard on or before June 4, 2023.

ADDRESSES: You may submit comments identified by docket number USCG-
2023-0100 using the Federal rulemaking portal at https://www.regulations.gov. See the ``Public Participation and Request for
Comments'' portion of the SUPPLEMENTARY INFORMATION section for further
instructions on submitting comments.

FOR FURTHER INFORMATION CONTACT: For information about this document,
please call or email Todd Aikins, Coast Guard Office of Boat Forces,
202-372-2463, [email protected].

SUPPLEMENTARY INFORMATION:

I. Table of Abbreviations

CFR Code of Federal Regulations
DHS Department of Homeland Security
GAO Government Accountability Office

II. Background and Purpose

    In October of 2017, the GAO issued report GAO-18-9, titled
``Actions Needed to Close Stations Identified as Overlapping and
Unnecessarily Duplicative.'' This GAO report, a copy of which is in the
docket for this notice, recommends the consolidation of 18 boat
stations. Due to environmental and operational factors, the Coast Guard
is not considering all 18 boat stations identified in the GAO report
for consolidation this year. Instead, we anticipate consolidating three
stations, with implementation notionally scheduled for fiscal year
2023. These stations have been identified because there are other units
nearby capable of responding to cases in these areas, and because these
three stations respond to a low number of cases. We do not anticipate
any adverse effect on Coast Guard response capability. We expect
enhanced proficiency of boat operators as well as a less complicated
response system.

III. Discussion

    The following seasonal stations have been identified for
consolidation with neighboring stations: Stations-Small Block Island,
RI; Ocracoke, NC; and Sackets Harbor, NY. These seasonal stations are
detached subunits of larger parent stations. In addition, Station-Small
East Moriches, NY, has been identified for seasonalization, which means
operating from this location during the peak boating season. This
station was historically operated seasonally but has been operating
year-round without appropriate resources. It will return to its
seasonal status.
    These actions would create synergy and more opportunities for boat
operators to properly train instead of missing training opportunities
while standing ready to respond to calls that do not come.
Consolidation would allow the Coast Guard to operate more efficiently
by not pre-positioning boats and crews in areas that don't have a SAR
caseload in the winter months.

IV. Public Participation and Request for Comments

    We encourage you to submit comments through the Federal portal at
https://www.regulations.gov. If your material cannot be submitted using
https://www.regulations.gov, contact the person in the FOR FURTHER
INFORMATION CONTACT section of this document for alternate
instructions. In your submission, please include the docket number for
this notice and provide a reason for each suggestion or recommendation.
We will review all comments received, but we may choose not to post
off-topic, inappropriate, or duplicate comments that we receive.
    We accept anonymous comments. Comments we post to https://www.regulations.gov will include any personal information you have
provided. For more about privacy and submissions in response to this
document, see DHS's eRulemaking System of Records notice (85 FR 14226,
March 11, 2020).

    Documents mentioned in this notice as being available in the
docket, and public comments, will be in our online docket at https://www.regulations.gov and can be viewed by following that website's
instructions.

    Dated: March 31, 2023.
Jason C. Aleksak,
Captain, U.S. Coast Guard, Chief, Office of Boat Forces.
[FR Doc. 2023-07148 Filed 4-5-23; 8:45 am]
BILLING CODE 9110-04-P


[Federal Register Volume 85, Number 100 (Friday, May 22, 2020)]
[Notices]
[Pages 31267-31273]
[FR Doc No: 2020-11041]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-88894; File No. SR-BOX-2020-13]

Self-Regulatory Organizations; BOX Exchange LLC; Notice of Filing
and Immediate Effectiveness of a Proposed Rule Change To Amend IM-3120-
2 to BOX Rule 3120 (``Position Limits'') To Increase Position Limits
for Options on Certain Exchange-Traded Funds (``ETFs''), and Thereby
Similarly Increase Exercise Limits Under IM-3140-1 for Certain ETFs

May 18, 2020.
    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 May 7, 2020, BOX Exchange LLC (the ``Exchange'') filed with the
Securities and Exchange Commission (``Commission'') the proposed rule
change as described in Items I and II below, which Items have been
prepared by the self-regulatory organization. The Commission is
publishing this notice to solicit comments on the proposed rule change
from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of the
Substance of the Proposed Rule Change

    The Exchange proposes to amend IM-3120-2 to BOX Rule 3120
(``Position Limits'') to increase position limits for options on
certain exchange-traded funds (``ETFs''), and thereby similarly
increase exercise limits under IM-3140-1 for certain ETFs. The text of
the proposed rule change is available from the principal office of the
Exchange, at the Commission's Public Reference Room and also on the
Exchange's internet website at http://boxoptions.com.

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

    In its filing with the Commission, the self-regulatory organization
included statements concerning the purpose of, and basis for, the
proposed rule change and discussed any comments it received on the
proposed rule change. The text of these statements may be examined at
the places specified in Item IV below. The self-regulatory organization
has prepared summaries, set forth in Sections A, B, and C below, of the
most significant aspects of such statements.

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

1. Purpose
    The Exchange proposes to amend IM-3120-2 to BOX Rule 3120
(``Position Limits'') to increase the position limits for options on
the following exchange trade funds (``ETFs''): Standard and Poor's
Depositary Receipts Trust (``SPY''), iShares MSCI EAFE ETF (``EFA''),
iShares China Large-Cap ETF (``FXI''), iShares iBoxx High Yield
Corporate Bond Fund (``HYG''), and Financial Select Sector SPDR Fund
(``XLF''). This is a competitive filing that is based on a proposal
recently submitted by the Chicago Board Options Exchange Incorporated
(``Cboe'') and approved by the Commission.\3\
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    \3\ See Securities Exchange Act Release No. 34-88768 (April 29,
2020), 85 FR 26736 (May 5, 2020) (Order Granting Accelerated
Approval of SR-BOX-2020-015 [sic] as Modified by Amendment No. 1).
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    Position limits are designed to address potential manipulative
schemes and adverse market impacts surrounding the use of options, such
as disrupting the market in the security underlying the options. While
position limits should address and discourage the potential for
manipulative schemes and adverse market impact, if such limits are set
too low, participation in the options market may be discouraged. The
Exchange believes that position limits must therefore be balanced
between mitigating concerns of any potential manipulation and the cost
of inhibiting potential hedging activity that could be used for
legitimate economic purposes.
    According to Cboe, market participants have increased their demand
for options on SPY, EFA, FXI, HYG, and XLF (collectively, the
``Underlying ETFs'') for both trading and hedging purposes.\4\ Cboe
noted that although the demand for these options appears to have
increased, position limits for options on the Underlying ETFs have
remained the same. The Exchange believes these unchanged position
limits may have impeded, and may continue to impede, trading activity
and strategies of investors, such as use of effective hedging vehicles
or income generating strategies (e.g., buy-write or put-write), and the
ability of Market-Makers to make liquid markets with tighter spreads in
these options resulting in the transfer of volume to over-the-counter
(``OTC'') markets. OTC transactions occur through bilateral agreements,
the terms of which are not publically disclosed to the marketplace. As
such, OTC transactions do not contribute to the price discovery process
on a public exchange or other lit markets. Therefore, the Exchange
believes that the proposed increases in position limits for options on
the Underlying ETFs may enable liquidity providers to provide
additional liquidity to the Exchange and other market participants to
transfer their liquidity demands from OTC markets to the Exchange, as
well as other options exchange on which they participate. As described
in further detail below, the Exchange believes that the continuously
increasing market capitalization of the Underlying ETFs and ETF
component securities, as well as the highly liquid markets for those
securities, reduces the concerns for potential market manipulation and/
or disruption in the underlying markets upon increasing position
limits, while the rising demand for trading options on the Underlying
ETFs for legitimate economic purposes compels an increase in position
limits.
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    \4\ Id.
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Proposed Position Limits for Options on the Underlying ETFs
    Position limits for options on ETFs are determined pursuant to Rule
3120, and vary according to the number of outstanding shares and the
trading volumes of the underlying stocks or ETFs over the past six
months. Pursuant to Exchange Rule 3120, the largest in capitalization
and the most frequently traded stocks and ETFs have an option position
limit of 250,000 contracts (with adjustments for splits, re-
capitalizations, etc.) on the same side of the market; and smaller
capitalization stocks and ETFs have position limits of 200,000, 75,000,
50,000 or 25,000 contracts (with adjustments for splits, re-
capitalizations, etc.) on the same side of the market. Options on HYG
and XLF are currently subject to the standard position limit of 250,000
contracts as set forth in Exchange Rule 3120. Rule IM-3120-2 sets forth
separate position limits for options on specific ETFs, including SPY,
FXI, and EFA. In addition, BOX Rule 3140 and IM-3140-1 (which are not
being amended by this filing), establish exercise limits for the
aforementioned ETFs.
    The Exchange proposes to amend Rule IM-3120-2 to double the
position limits and, as a result, exercise limits, for options on each
of HYG, XLF, FXI, EFA and SPY. By virtue of IM-3140-1, the exercise
limits for EFA, FXI, HYG, XLF, and SPY would similarly increase. The
table below represents the current, and proposed, position limits for
options on the ETFs subject to this proposal:

------------------------------------------------------------------------
                                              Current        Proposed
                   ETF                    position limit  position limit
------------------------------------------------------------------------
SPY.....................................       1,800,000       3,600,000
EFA.....................................         500,000       1,000,000
FXI.....................................         500,000       1,000,000
HYG.....................................         250,000         500,000
XLF.....................................         250,000         500,000
------------------------------------------------------------------------

    The Exchange notes that the proposed position limits for options on
EFA and FXI are consistent with existing position limits for options on
the iShares Russell 2000 ETF (``IWM'') and the iShares MSCI Emerging
Markets ETF (``EEM''), while the proposed limits for options on XLF and
HYG are consistent with current position limits for options on the
iShares MSCI Brazil Capped ETF (``EWZ''), iShares 20+ Year Treasury
Bond Fund ETF (``TLT''), and iShares MSCI Japan ETF (``EWJ''). The
Exchange represents that the Underlying ETFs qualify for either (1) the
initial listing criteria set forth in Exchange Rule 5020(h)(2) for ETFs
holding non-U.S. component securities, or (2) generic listing standards
for series of portfolio depository receipts and index fund shares based
on international or global indexes under which a comprehensive
surveillance agreement (``CSA'') is not required, as well as the
continued listing criteria in Rule 5030.\5\ In compliance with its
listing rules, the Exchange also represents that non-U.S. component
securities that are not subject to a CSA do not, in the aggregate,
represent more than 50% of the weight of any of the Underlying ETFs.\6\
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    \5\ The Exchange notes that the initial listing criteria for
options on ETFs that hold non-U.S. component securities are more
stringent than the maintenance listing criteria for those same ETF
options. See Rule 5020(h)(2); Rule 5030(h).
    \6\ See Rule 5020(h)(2)(ii)(A).
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Cboe's Composition and Growth Analysis for Underlying ETFs
    As stated above, position (and exercise) limits are intended to
prevent the establishment of options positions

that can be used or might create incentives to manipulate the
underlying market so as to benefit options positions. The Securities
and Exchange Commission (the ``Commission'') has recognized that these
limits are designed to minimize the potential for mini-manipulations
and for corners or squeezes of the underlying market, as well as serve
to reduce the possibility for disruption of the options market itself,
especially in illiquid classes.\7\ The Underlying ETFs as well as the
ETF components are highly liquid, and are based on a broad set of
highly liquid securities and other reference assets, as demonstrated by
the trading statistics collected by Cboe.\8\ The Commission recognized
the liquidity of the securities comprising the underlying interest of
SPY and permitted no position limits on SPY options from 2012 through
2018.\9\
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    \7\ See Securities Exchange Act Release No. 67672 (August 15,
2012), 77 FR 50750 (August 22, 2012) (SR-NYSEAmex-2012-29).
    \8\ See supra note 3.
    \9\ See Securities Exchange Act Release Nos. 67936 (September
27, 2012), 77 FR 60491 (October 3, 2012) (SR-BOX-2012-013), which
implemented a pilot program that ran through 2017, during which
there were no position limits for options on SPY. The Exchange notes
that throughout the duration of the pilot program it was not aware
of any problems created or adverse consequences as a result of the
pilot program. See also Securities Exchange Act Release No. 34-83414
(June 12, 2018), 83 FR 28296 (June 18, 2018) (SR-BOX-2018-22).
---------------------------------------------------------------------------

    To support its proposed position limit increases, Cboe conducted an
analysis in support of its proposal. BOX agrees with Cboe's trading
statistics and analysis. In support of its proposal, Cboe considered
both liquidity of the Underlying ETFs and the component securities of
the Underlying ETFs, as well as the availability of economically
equivalent products to the overlying options and their respective
position limits. For instance, some of the Underlying ETFs are based
upon broad-based indices that underlie cash-settled options, and
therefore the options on the Underlying ETFs are economically
equivalent to the options on those indices, which have no position
limits. Other Underlying ETFs are based upon broad-based indices that
underlie cash-settled options with position limits reflecting notional
values that are larger than current position limits for options on the
ETFs based on the same indices. For indexes that are tracked by an
Underlying ETF but on which there are no options listed, the Exchange
believes, based on the liquidity, depth and breadth of the underlying
market of the components of the indexes, that each of the indexes
referenced by the applicable ETFs would be considered a broad-based
index under the Exchange's Rules. Additionally, if in some cases
certain position limits are appropriate for the options overlying
comparable indexes or basket of securities that the Underlying ETFs
track, then those economically equivalent position limits should be
appropriate for the options overlying the Underlying ETFs.
    The Exchange notes, the following trading statistics have been
collected by Cboe,\10\ regarding shares of and options on the
Underlying ETFs, as well as the component securities:
---------------------------------------------------------------------------

    \10\ See Securities Exchange Act Release No. 34-88350 (March 10,
2020), 85 FR 15003 (March 16, 2020) (SR-CBOE-2020-015).
    \11\ Cboe's Average daily volume (ADV) data for ETF shares and
options contracts are for all of 2019. Additionally, reference to
ADV in ETF shares, and ETF options herein this proposal are for all
of 2019, unless otherwise indicated.
    \12\ Shares Outstanding and Fund Market Capitalization Data in
the tables presented herein this filing were sourced from Bloomberg
and the Cboe's internal data on January 2, 2020.
    \13\ Total Market Capitalization of the ETF Components presented
in the tables herein this filing were sourced from Bloomberg on
January 3, 2020, as well as directly from the issuers' websites.
    \14\ Total Market Capitalization of HYG was sourced from IHS
Markit, which sends daily constituent information to Cboe.

--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                Shares outstanding                           Total market cap of
              Product                 ADV \11\ (ETF shares)  ADV (option contracts)       (ETFs) \12\       Fund market cap (USD)   ETF Components \13\
--------------------------------------------------------------------------------------------------------------------------------------------------------
SPY................................  70.3 million..........  2.8 million...........  968.7 million........  312.9 billion........  29.3 trillion.
FXI................................  26.1 million..........  196,600...............  106.8 million........  4.8 billion..........  28.0 trillion.
EFA................................  25.1 million..........  155,900...............  928.2 million........  64.9 billion.........  19.3 trillion.
HYG................................  20.0 million..........  193,700...............  216.6 million........  19.1 billion.........  \14\906.4 billion.
XLF................................  48.8 million..........  102,100...............  793.6 million........  24.6 billion.........  3.8 trillion.
--------------------------------------------------------------------------------------------------------------------------------------------------------

    In addition, Cboe also collected the same trading statistics, where
applicable, as above regarding a sample of other ETFs, as well as the
current position limits for options on such ETFs, in order to draw
comparisons in support of their proposed position limit increases for
options on a number of Underlying ETFs (see further discussion below):

--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                Current
             Product                 ADV (ETF shares)      ADV (option    Shares outstanding      Fund market cap    Total market cap of     position
                                                           contracts)           (EFTs)                 (USD)            ETF components        limits
--------------------------------------------------------------------------------------------------------------------------------------------------------
QQQ..............................  30.2 million........         670,200  410.3 million.......  88.7 billion........  10.1 trillion......       1,800,000
EWZ..............................  26.7 million........         186,500  233 million.........  11.3 billion........  234.6 billion......         500,000
TLT..............................  9.6 million.........          95,200  128.1 million.......  17.5 billion........  N/A................         500,000
EWJ..............................  7.2 million.........           5,700  236.6 million.......  14.2 billion........  3 trillion.........         500,000
--------------------------------------------------------------------------------------------------------------------------------------------------------

    The following analysis, which BOX agrees with, was conducted by
Cboe in support of its proposal. Cboe noted that, overall, the
liquidity in the shares of the Underlying ETFs and in the component
securities of the Underlying ETFs, and in their overlying options, as
well as the large market capitalizations and structure of each of the
Underlying ETFs, support the proposal to increase the position limits
for each option class. Given the robust liquidity and capitalization in
the Underlying ETFs and in the component securities of the Underlying
ETFs, the Exchange does not anticipate that the proposed increase in
position limits would create significant price movements. Also, the
Exchange believes the market capitalization of the underlying component
securities of the applicable index or reference asset are large enough
to adequately absorb potential price movements that may be caused by
large trades.
    Specifically, the Exchange notes that SPY tracks the performance of
the S&P 500 Index, which is an index of

diversified large cap U.S. companies.\15\ It is composed of 505
selected stocks spanning over approximately 24 separate industry
groups. The S&P 500 is one of the most commonly followed equity
indices, and is widely considered to be the best indicator of stock
market performance as a whole. SPY is one of the most actively traded
ETFs. In support of its proposal to increase position limits for SPY to
3,600,000 contracts, Cboe compared SPY's ADV from 2017 to the end of
2019, and found that SPY's ADV has increased from approximately 64.6
million shares to 70.3 million shares.\16\ Similarly, Cboe noted SPY's
ADV in options contracts has increased from 2.6 million to 2.8 million
through 2019.\17\ Cboe's data shows the demand for options trading on
SPY has continued to increase; however, the position limits have
remained the same, which the Exchange believes may have impacted growth
in SPY option volume from 2017 through 2019. In addition, Cboe notes
that SPY shares are more liquid than PowerShares QQQ Trust (``QQQ'')
shares, which is also currently subject to a position limit of
1,800,000 contracts.\18\ Specifically, according to Cboe's statistical
comparison, SPY currently experiences over twice the ADV in shares and
over four times the ADV in options than that of QQQ.\19\
---------------------------------------------------------------------------

    \15\ See SPDR S&P 500 ETF Trust, available at: https://www.ssga.com/us/en/individual/etfs/funds/spdr-sp-500-etf-trust-spy
(January 21, 2020).
    \16\ See supra note 3.
    \17\ See Securities Exchange Act Release No. 83415 (June 12,
2018), 83 FR 28274 (June 18, 2018) (SR-CBOE-2018-042); and 34-83414
(June 12, 2018), 83 FR 28296 (June 18, 2020) (SR-BOX-2018-22).
    \18\ The Exchange notes that it also updates the PowerShares QQQ
Trust symbol in IM-3120-2 from QQQQ to QQQ as this accurately
reflects the current ticker symbol for PowerShares QQQ, which was
officially changed from QQQQ to QQQ by Invesco PowerShares Capital
Management LLC in 2011. See Morningstar, PowerShares Changes Ticker
Symbol of Tech-Heavy QQQ ETF, available at morningstar.com/articles/374713/powershares-changes-tickersymbol-of-tech-heavy-qqq-etf (March
23, 2011).
    \19\ The 2019 ADV for QQQ shares is 30.2 million and for options
on QQQ is 670,200.
---------------------------------------------------------------------------

    EFA tracks the performance of MSCI EAFE Index (``MXEA''), which is
comprised of over 900 large and mid-cap securities across 21 developed
markets, including countries in Europe, Australia and the Far East,
excluding the U.S. and Canada.\20\ In support of its proposal to
increase the position limit for EFA, Cboe's proposal specifies, that
from 2017 through 2019, ADV has grown significantly in shares of EFA
and in options on EFA, from approximately 19.4 million shares in 2017
to 25.1 million through 2019, and from approximately 98,800 options
contract in 2017 to 155,900 through 2019. Further, Cboe compared the
notional value of EFA's share price of $69.44 and MXEA's index level of
2036.94, approximately 29 EFA option contracts equal one MXEA option
contract. Based on the above comparison of notional values, Cboe
concluded that a position limit for EFA options would be economically
equivalent to that of MXEA options which equates to 725,000 contracts
(previously) and 1,450,000 for Cboe's current 50,000 contract position
limit for MXEA options.\21\ Cboe also noted that MXEA index options
have an ADV of 594 options contracts, which equate to an ADV of 17,226
EFA option contracts (as that is 29 times the size of 594). The
Exchange believes the significantly higher actual ADV (155,900
contracts), economically equivalent ADV (17,226 contracts), notional
value, and economically equivalent position limits for EFA as compared
to MXEA options, supports an increase in position limits for EFA
options from 500,000 contracts to 1,000,000 contracts.
---------------------------------------------------------------------------

    \20\ See iShares MSCI EAFE ETF, available at https://www.ishares.com/us/products/239623/ishares-msci-eafe-etf (February
10, 2020).
    \21\ The Exchange notes that BOX does not list options on
foreign indexes.
---------------------------------------------------------------------------

    FXI tracks the performance of the FTSE China 50 Index, which is
composed of the 50 largest Chinese stocks.\22\ According to Cboe, FXI
shares and options have also experienced increased liquidity since
2017, as ADV has grown from approximately 15.1 million shares in 2017
to 26.1 million through 2019, as well as approximately 71,900 options
contracts in 2017 to 196,600 through 2019. Cboe notes that although
there are currently no options on the FTSE China 50 Index listed for
trading, the components of the FTSE China 50 Index, which can be used
to create a basket of stocks that equate to the FXI ETF, currently have
a market capitalization of approximately $28 trillion and FXI has a
market capitalization of $4.8 billion (as indicated above), which the
Exchange believes are both large enough to absorb potential price
movements caused by a large trade in FXI.
---------------------------------------------------------------------------

    \22\ See iShares China Large-Cap ETF, available at https://www.ishares.com/us/products/239536/ishares-china-largecap-etf
(February 10, 2020).
---------------------------------------------------------------------------

    XLF invests in a wide array of financial service firms with
diversified business lines ranging from investment management to
commercial and investment banking. It generally corresponds to the
price and yield performance of publicly traded equity securities of
companies in the SPDR Financial Select Sector Index.\23\ In support of
its proposal, Cboe compared XLF's ADV in shares and in options to the
ADV in shares and options for EWZ (26.7 million shares and 186,500
options contracts), TLT (9.6 million shares and 95,200 options
contracts), and EWJ (7.2 million shares and 5,700 options contracts).
According to Cboe, XLF experiences significantly greater ADV in shares
and options than EWZ, TLT, and EWJ, which already have a position limit
of 500,000 contracts--the proposed position limit for XLF options.
According to Cboe, although there are no options listed on the SPDR
Financial Select Sector Index listed for trading, the components of the
index, which can be used to create a basket of stocks that equate to
the XLF ETF, currently have a market capitalization of $3.8 trillion
(indicated above). Additionally, XLF has a market capitalization of
$24.6 billion. The Exchange believes that both of these are large
enough to absorb potential price movements caused by a large trade in
XLF.
---------------------------------------------------------------------------

    \23\ See Select Sector SPDR ETFs, XLF, available at http://www.sectorspdr.com/sectorspdr/sector/xlf (January 15, 2020).
---------------------------------------------------------------------------

    Finally, HYG attempts to track the investment results of Markit
iBoxx USD Liquid High Yield Index, which is composed of U.S. dollar-
denominated, high-yield corporate bonds and is one of the most widely
used high-yield bond ETFs.\24\ To support its proposed position limit
increase on HYG, Cboe compared the HYG's ADV in share and options to
that of both TLT (9.6 million shares and 95,200 options contracts), and
EWJ (7.2 million shares and 5,700 options contracts). BOX agrees with
Cboe's comparison and following analysis. Cboe found that HYG
experiences significantly higher ADV in shares and options than both
TLT and EWJ, which are currently subject to a position limit of 500,000
options contracts--the proposed limit for options on HYG. According to
Cboe, while HYG does not have an index option analogue listed for
trading, Cboe believes that its market capitalization of $19.1 billion,
and of $906.4 billion in component securities, is adequate to absorb a
potential price movement that may be caused by large trades in HYG.
---------------------------------------------------------------------------

    \24\ See iShares iBoxx $ High Yield Corporate Bond ETF,
available at https://www.ishares.com/us/products/239565/ishares-iboxx-high-yield-corporatebond-etf (January 15, 2020).
---------------------------------------------------------------------------

Creation and Redemption for ETFs
    The Exchange believes that the creation and redemption process for
ETFs will lessen the potential for manipulative activity with options
on the Underlying ETFs. When an ETF

provider wants to create more shares, it looks to an Authorized
Participant (generally a market maker or other large financial
institution) to acquire the securities the ETF is to hold. For
instance, when an ETF is designed to track the performance of an index,
the Authorized Participant can purchase all the constituent securities
in the exact same weight as the index, then deliver those shares to the
ETF provider. In exchange, the ETF provider gives the Authorized
Participant a block of equally valued ETF shares, on a one-for-one fair
value basis. The price is based on the net asset value, not the market
value at which the ETF is trading. The creation of new ETF units can be
conducted during an entire trading day, and is not subject to position
limits. This process works in reverse where the ETF provider seeks to
decrease the number of shares that are available to trade. The creation
and redemption process, therefore, creates a direct link to the
underlying components of the ETF, and serves to mitigate potential
price impact of the ETF shares that might otherwise result from
increased position limits for the ETF options.
    The Exchange understands that the ETF creation and redemption
process seeks to keep an ETF's share price trading in line with the
ETF's underlying net asset value. Because an ETF trades like a stock,
its share price will fluctuate during the trading day, due to simple
supply and demand. If demand to buy an ETF is high, for instance, the
ETF's share price might rise above the value of its underlying
securities. When this happens, the Authorized Participant believes the
ETF may now be overpriced, so it may buy shares of the component
securities and then sell ETF shares in the open market (i.e.
creations). This may drive the ETF's share price back toward the
underlying net asset value. Likewise, if the ETF share price starts
trading at a discount to the securities it holds, the Authorized
Participant can buy shares of the ETF and redeem them for the
underlying securities (i.e. redemptions). Buying undervalued ETF shares
may drive the share price of the ETF back toward fair value. This
arbitrage process helps to keep an ETF's share price in line with the
value of its underlying portfolio.
Surveillance and Reporting Requirements
    The Exchange believes that increasing the position limits for the
options on the Underlying ETFs would lead to a more liquid and
competitive market environment for these options, which will benefit
customers interested in trading these products. The reporting
requirement for the options on the Underlying ETFs would remain
unchanged. Thus, the Exchange would still require that each BOX
Participant that maintains positions in the options on the same side of
the market, for its own account or for the account of a customer,
report certain information to the Exchange. This information would
include, but would not be limited to, the options' positions, whether
such positions are hedged and, if so, a description of the hedge(s).
Exchange Market-Makers \25\ are exempt from this reporting requirement,
because Market Maker information can be accessed through the Exchange's
market surveillance systems.\26\ In addition, the general reporting
requirement for customer accounts that maintain an aggregate long or
short position of 200 or more options contracts of any single class of
options traded on BOX would remain at this level for the options
subject to this proposal, and continue to serve as an important part of
the Exchange's surveillance efforts.\27\
---------------------------------------------------------------------------

    \25\ A Market Maker ``is an Options Participant registered with
the Exchange for the purpose of making markets in options contracts
traded on the Exchange and that is vested with the rights and
responsibilities specified in the Rule 8000 Series. All Market
Makers are designated as specialists on the Exchange for all
purposes under the Exchange Act or Rules thereunder.'' See BOX Rule
100(a)(31).
    \26\ The Exchange notes that the Financial Industry Regulatory
Authority (``FINRA''), pursuant to a regulatory services agreement,
operates surveillance on behalf of BOX. This type of Market Maker
information can be found through FINRA.
    \27\ See BOX Rule 3150 for reporting requirements.
---------------------------------------------------------------------------

    The Exchange believes that the existing surveillance procedures and
reporting requirements at the Exchange and other SROs are capable of
properly identifying disruptive and/or manipulative trading activity.
The Exchange also represents that it has adequate surveillances in
place to detect potential manipulation, as well as reviews in place to
identify potential changes in composition of the Underlying ETFs, and
continued compliance with the Exchange's listing standards. These
procedures utilize daily monitoring of market activity via automated
surveillance techniques to identify unusual activity in both options
and the underlyings, as applicable.\28\ The Exchange also notes that
large stock holdings must be disclosed to the Commission by way of
Schedules 13D or 13G,\29\ which are used to report ownership of stock
which exceeds 5% of a company's total stock issue and may assist in
providing information in monitoring for any potential manipulative
schemes.
---------------------------------------------------------------------------

    \28\ These procedures have been effective for the surveillance
of trading the options subject to this proposal and will continue to
be employed by FINRA on behalf of BOX.
    \29\ 17 CFR 240.13d-1.
---------------------------------------------------------------------------

    The Exchange believes that the current financial requirements
imposed by the Exchange and by the Commission adequately address
concerns regarding potentially large, unhedged positions in the options
on the Underlying ETFs. Current margin and risk-based haircut
methodologies serve to limit the size of positions maintained by any
one account by increasing the margin and/or capital that a BOX
Participant must maintain for a large position held by itself or by its
customer.\30\ In addition, Rule 15c3-1 \31\ imposes a capital charge on
BOX Participants to the extent of any margin deficiency resulting from
the higher margin requirement.
---------------------------------------------------------------------------

    \30\ See BOX Rule 10100 Series for a description of margin
requirements.
    \31\ 17 CFR 240.15c3-1.
---------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes that the proposal is consistent with the
requirements of Section 6(b) of the Act,\32\ in general, and Section
6(b)(5) of the Act,\33\ in particular, in that it is 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. Additionally, the Exchange
believes the proposed rule change is consistent with the Section
6(b)(5) \34\ requirement that the rules of an exchange not be designed
to permit unfair discrimination between customers, issuers, brokers, or
dealers.
---------------------------------------------------------------------------

    \32\ 15 U.S.C. 78f(b).
    \33\ 15 U.S.C. 78f(b)(5).
    \34\ Id.
---------------------------------------------------------------------------

    The Exchange believes that the proposed increase in position limits
for options on the Underlying ETFs will remove impediments to and
perfect the mechanism of a free and open market and national market
system, and, in general, protect investors and the public interest,
because it will provide market participants with the ability to more
effectively execute their trading and hedging activities. The proposed
increases will allow market participants to more fully implement
hedging strategies in related derivative products and to further use
options to achieve investment strategies (e.g., there are Exchange-
Traded Products (``ETPs'') that use options on the Underlying ETFs as
part of their investment strategy, and

the applicable position limits as they stand today may inhibit these
ETPs in achieving their investment objectives, to the detriment of
investors). Also, increasing the applicable position limits may allow
Market-Makers to provide the markets for these options with more
liquidity in amounts commensurate with increased consumer demand in
such markets. The proposed position limit increases may also encourage
other liquidity providers to shift liquidity, as well as encourage
consumers to shift demand, from over the counter markets onto the
Exchange, which will enhance the process of price discovery conducted
on the Exchange through increased order flow.
    In addition, the Exchange believes that the structure of the
Underlying ETFs, the considerable market capitalization of the funds,
underlying component securities, and the liquidity of the markets for
the applicable options and underlying component securities will
mitigate concerns regarding potential manipulation of the products and/
or disruption of the underlying markets upon increasing the relevant
position limits. As a general principle, increases in market
capitalizations, active trading volume, and deep liquidity of
securities do not lead to manipulation and/or disruption. This general
principle applies to the recently observed increased levels of market
capitalization, trading volume, and liquidity in shares of the
Underlying ETFs, and the components of the Underlying ETFs (as
described above), the Exchange does not believe that the options
markets or underlying markets would become susceptible to manipulation
and/or disruption as a result of the proposed position limit increases.
Indeed, the Commission has previously expressed the belief that
removing position and exercise limits may bring additional depth and
liquidity to the options markets without increasing concerns regarding
intermarket manipulation or disruption of the options or the underlying
securities.\35\ More specifically, the Commission recently approved
Cboe's proposal to increase the position limits for the Underlying ETFs
in this filing.\36\
---------------------------------------------------------------------------

    \35\ See Securities Exchange Act Release No. 62147 (October 28,
2005) (SR-CBOE-2005-41), at 62149.
    \36\ See supra note 3.
---------------------------------------------------------------------------

    Further, the Exchange notes that the proposed rule change to
increase position limits for select actively traded options, is not
novel and has been previously approved by the Commission. For example,
the Commission has previously approved, on a pilot basis, eliminating
position limits for options on SPY.\37\ Additionally, the Commission
has approved similar proposed rule changes by the Exchange to increase
position limits for options on highly liquid, actively-traded ETFs.\38\
In approving the permanent elimination of position (and exercise
limits) for such options, the Commission relied heavily upon Cboe's
surveillance capabilities, expressing trust in the enhanced
surveillances and reporting safeguards that Cboe took in order to
detect and deter possible manipulative behavior which might arise from
eliminating position and exercise limits.\39\ Furthermore, as described
more fully above, the proposed position limits for options on EFA and
FXI are consistent with existing position limits for options on IWM and
EEM, and the proposed limits for options on XLF and HYG are consistent
with current position limits for options on EWZ, TLT, and EWJ.
---------------------------------------------------------------------------

    \37\ See supra notes 9 and 10.
    \38\ See supra note 3; see also Securities Exchange Act Release
No. 68086 (October 23, 2012), 77 FR 65600 (October 29, 2012) (SR-
CBOE-2012-066); and 34-68478 (December 19, 2012), 77 FR 76132
(December 26, 2012) (SR-BOX-2012-023).
    \39\ See Securities Exchange Act Release Nos. 52650 (October 21,
2005), 70 FR 62147, at 62149 (October 28, 2005) (SR-CBOE-2005-41).
---------------------------------------------------------------------------

    The Exchange believes that BOX's surveillance and reporting
safeguards continue to be designed to deter and detect possible
manipulative behavior that might arise from increasing or eliminating
position and exercise limits in certain classes. Lastly, the Exchange
believes that the current financial requirements imposed by the
Exchange and by the Commission adequately address concerns regarding
potentially large, unhedged position in the options on the Underlying
ETFs, further promoting just and equitable principles of trading, the
maintenance of a fair and orderly market, and the protection of
investors.

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

    The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. The Exchange does not
believe the proposed rule change will impose any burden on intramarket
competition that is not necessary or appropriate in furtherance of the
purposes of the Act because the increased position limits (and exercise
limits) will be available to all market participants and apply to each
in the same manner. The Exchange believes that the proposed rule change
will provide additional opportunities for market participants to more
efficiently achieve their investment and trading objectives.
    The Exchange does not believe that the proposed rule change will
impose any burden on intermarket competition that is not necessary or
appropriate in furtherance of the Act. On the contrary, the Exchange
believes the proposal promotes competition because it may attract
additional order flow from the OTC market to exchanges, which would in
turn compete amongst each other for those orders. The Exchange believes
market participants would benefit from being able to trade options with
increased position limits in an exchange environment in several ways,
including but not limited to the following: (1) Enhanced efficiency in
initiating and closing out position; (2) increased market transparency;
and (3) heightened contra-party creditworthiness due to the role of OCC
as issuer and guarantor. Further, the Exchange notes that the rule
change is being proposed as a competitive response to a filing
submitted by Cboe that was recently approved by the Commission.\40\
---------------------------------------------------------------------------

    \40\ See supra, note 3.
---------------------------------------------------------------------------

    As such, the Exchange does not believe that the proposed rule
change will impose any burden on competition 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

    The Exchange has neither solicited nor received comments on the
proposed rule change.

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

    Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A) of the Act \41\ and Rule 19b-
4(f)(6) thereunder.\42\
---------------------------------------------------------------------------

    \41\ 15 U.S.C. 78s(b)(3)(A).
    \42\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change, along
with a brief description and text of the proposed rule change, at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
The Exchange has satisfied this requirement.
---------------------------------------------------------------------------

    A proposed rule change filed pursuant to Rule 19b-4(f)(6) under the

Act \43\ normally does not become operative for 30 days after the date
of its filing. However, Rule 19b-4(f)(6)(iii) \44\ permits the
Commission to designate a shorter time if such action is consistent
with the protection of investors and the public interest. The Exchange
has asked the Commission to waive the 30-day operative delay so that
the proposed rule change may become operative upon filing. The Exchange
states that waiver of the operative delay would be consistent with the
protection of investors and the public interest because it will ensure
fair competition among the exchanges by allowing the Exchange to
immediately increase the position limits for the products subject to
this proposal, which the Exchange believes will provide consistency for
BOX Participants that are also members at CBOE where these increased
position limits are currently in place. For this reason, the Commission
believes that waiver of the 30-day operative delay is consistent with
the protection of investors and the public interest. Therefore, the
Commission hereby waives the operative delay and designates the
proposal as operative upon filing.\45\
---------------------------------------------------------------------------

    \43\ 17 CFR 240.19b-4(f)(6).
    \44\ 17 CFR 240.19b-4(f)(6)(iii).
    \45\ For purposes only of waiving the 30-day operative delay,
the Commission also has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings to
determine whether the proposed rule change should be approved or
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 email to<EMAIL_ADDRESS>Please include
File Number SR-BOX-2020-13 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-BOX-2020-13. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549 on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of such filing also will be available for inspection
and copying at the principal office of the Exchange. All comments
received will be posted without change. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-BOX-2020-13, and should be submitted on
or before June 12, 2020.
---------------------------------------------------------------------------

    \46\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\46\
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-11041 Filed 5-21-20; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 87, Number 24 (Friday, February 4, 2022)]
[Notices]
[Pages 6578-6610]
[FR Doc No: 2022-02359]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2021-N-0335]

Authorizations of Emergency Use of Certain Drugs and Biological
Products During the COVID-19 Pandemic; Availability

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice.

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

SUMMARY: The Food and Drug Administration (FDA) is announcing the
issuance of three Emergency Use Authorizations (EUAs) (the
Authorizations) under the Federal Food, Drug, and Cosmetic Act (FD&C
Act), for use during the COVID-19 pandemic. FDA has issued one
Authorization for a biological product as requested by AstraZeneca
Pharmaceuticals LP (AZ), one Authorization for a drug product as
requested by Pfizer, Inc. (Pfizer), and one Authorization for a drug
product as requested by Merck Sharp & Dohme Corp. (Merck). The
Authorizations contain, among other things, conditions on the emergency
use of the authorized products. The Authorizations follow the February
4, 2020, determination by the Secretary of Health and Human Services
(HHS) that there is a public health emergency that has a significant
potential to affect national security or the health and security of
U.S. citizens living abroad and that involves a novel (new)
coronavirus. The virus, now named SARS-CoV-2, causes the illness COVID-
19. On the basis of such determination, the Secretary of HHS declared
on March 27, 2020, that circumstances exist justifying the
authorization of emergency use of drugs and biological products during
the COVID-19 pandemic, pursuant to the FD&C Act, subject to the terms
of any authorization issued under that section. The Authorizations,
which include an explanation of the reasons for issuance, are reprinted
in this document.

DATES: The Authorization for AZ is effective as of December 8, 2021,
the Authorization for Pfizer is effective as of December 22, 2021, and
the Authorization for Merck is effective as of December 23, 2021.

ADDRESSES: Submit written requests for single copies of the EUAs to the
Office of Counterterrorism and Emerging Threats, Food and Drug
Administration, 10903 New Hampshire Ave., Bldg. 1, Rm. 4338, Silver
Spring, MD 20993-0002. Send one self-addressed adhesive label to assist
that office in processing your request or include a fax number to which
the Authorizations may be sent. See the SUPPLEMENTARY INFORMATION
section for electronic access to the Authorizations.

FOR FURTHER INFORMATION CONTACT: Michael Mair, Office of
Counterterrorism and Emerging Threats, Food and Drug Administration,
10903 New Hampshire Ave., Bldg. 1, Rm. 4340, Silver Spring, MD 20993-
0002,<PHONE_NUMBER> (this is not a toll free number).

SUPPLEMENTARY INFORMATION:

I. Background

    Section 564 of the FD&C Act (21 U.S.C. 360bbb-3) allows FDA to
strengthen public health protections against biological, chemical,
nuclear, and radiological agents. Among other things, section 564 of
the FD&C Act allows FDA to authorize the use of an unapproved medical
product or an unapproved use of an approved medical product in certain
situations. With this EUA authority, FDA can help ensure that medical
countermeasures may be used in emergencies to diagnose, treat, or
prevent serious or life-threatening diseases or conditions caused by
biological, chemical, nuclear, or radiological agents when there are no
adequate, approved, and available alternatives (among other criteria).

II. Criteria for EUA Authorization

    Section 564(b)(1) of the FD&C Act provides that, before an EUA may
be issued, the Secretary of HHS must declare that circumstances exist
justifying the authorization based on one of the following grounds: (1)
A determination by the Secretary of Homeland Security that there is a
domestic emergency, or a significant potential for a domestic
emergency, involving a heightened risk of attack with a biological,
chemical, radiological, or nuclear agent or agents; (2) a

determination by the Secretary of Defense that there is a military
emergency, or a significant potential for a military emergency,
involving a heightened risk to U.S. military forces, including
personnel operating under the authority of title 10 or title 50, U.S.
Code, of attack with (A) a biological, chemical, radiological, or
nuclear agent or agents; or (B) an agent or agents that may cause, or
are otherwise associated with, an imminently life-threatening and
specific risk to U.S. military forces; \1\ (3) a determination by the
Secretary of HHS that there is a public health emergency, or a
significant potential for a public health emergency, that affects, or
has a significant potential to affect, national security or the health
and security of U.S. citizens living abroad, and that involves a
biological, chemical, radiological, or nuclear agent or agents, or a
disease or condition that may be attributable to such agent or agents;
or (4) the identification of a material threat by the Secretary of
Homeland Security pursuant to section 319F-2 of the Public Health
Service (PHS) Act (42 U.S.C. 247d-6b) sufficient to affect national
security or the health and security of U.S. citizens living abroad.
---------------------------------------------------------------------------

    \1\ In the case of a determination by the Secretary of Defense,
the Secretary of HHS shall determine within 45 calendar days of such
determination, whether to make a declaration under section 564(b)(1)
of the FD&C Act, and, if appropriate, shall promptly make such a
declaration.
---------------------------------------------------------------------------

    Once the Secretary of HHS has declared that circumstances exist
justifying an authorization under section 564 of the FD&C Act, FDA may
authorize the emergency use of a drug, device, or biological product if
the Agency concludes that the statutory criteria are satisfied. Under
section 564(h)(1) of the FD&C Act, FDA is required to publish in the
Federal Register a notice of each authorization, and each termination
or revocation of an authorization, and an explanation of the reasons
for the action. Under section 564(h)(1) of the FD&C Act, revisions to
an authorization shall be made available on the internet website of
FDA. Section 564 of the FD&C Act permits FDA to authorize the
introduction into interstate commerce of a drug, device, or biological
product intended for use in an actual or potential emergency when the
Secretary of HHS has declared that circumstances exist justifying the
authorization of emergency use. Products appropriate for emergency use
may include products and uses that are not approved, cleared, or
licensed under sections 505, 510(k), 512, or 515 of the FD&C Act (21
U.S.C. 355, 360(k), 360b, and 360e) or section 351 of the PHS Act (42
U.S.C. 262), or conditionally approved under section 571 of the FD&C
Act (21 U.S.C. 360ccc). FDA may issue an EUA only if, after
consultation with the HHS Assistant Secretary for Preparedness and
Response, the Director of the National Institutes of Health, and the
Director of the Centers for Disease Control and Prevention (to the
extent feasible and appropriate given the applicable circumstances),
FDA \2\ concludes: (1) That an agent referred to in a declaration of
emergency or threat can cause a serious or life-threatening disease or
condition; (2) that, based on the totality of scientific evidence
available to FDA, including data from adequate and well-controlled
clinical trials, if available, it is reasonable to believe that: (A)
The product may be effective in diagnosing, treating, or preventing (i)
such disease or condition; or (ii) a serious or life-threatening
disease or condition caused by a product authorized under section 564,
approved or cleared under the FD&C Act, or licensed under section 351
of the PHS Act, for diagnosing, treating, or preventing such a disease
or condition caused by such an agent; and (B) the known and potential
benefits of the product, when used to diagnose, prevent, or treat such
disease or condition, outweigh the known and potential risks of the
product, taking into consideration the material threat posed by the
agent or agents identified in a declaration under section 564(b)(1)(D)
of the FD&C Act, if applicable; (3) that there is no adequate,
approved, and available alternative to the product for diagnosing,
preventing, or treating such disease or condition; (4) in the case of a
determination described in section 564(b)(1)(B)(ii) of the FD&C Act,
that the request for emergency use is made by the Secretary of Defense;
and (5) that such other criteria as may be prescribed by regulation are
satisfied.
---------------------------------------------------------------------------

    \2\ The Secretary of HHS has delegated the authority to issue an
EUA under section 564 of the FD&C Act to the Commissioner of Food
and Drugs.
---------------------------------------------------------------------------

    No other criteria for issuance have been prescribed by regulation
under section 564(c)(4) of the FD&C Act.

III. The Authorizations

    The Authorizations follow the February 4, 2020, determination by
the Secretary of HHS that there is a public health emergency that has a
significant potential to affect national security or the health and
security of U.S. citizens living abroad and that involves a novel (new)
coronavirus. The virus, now named SARS-CoV-2, causes the illness COVID-
19. Notice of the Secretary's determination was provided in the Federal
Register on February 7, 2020 (85 FR 7316). On the basis of such
determination, the Secretary of HHS declared on March 27, 2020, that
circumstances exist justifying the authorization of emergency use of
drugs and biological products during the COVID-19 pandemic, pursuant to
section 564 of the FD&C Act, subject to the terms of any authorization
issued under that section. Notice of the Secretary's declaration was
provided in the Federal Register on April 1, 2020 (85 FR 18250). Having
concluded that the criteria for issuance of the Authorizations under
section 564(c) of the FD&C Act are met, FDA has issued three
authorizations for the emergency use of drugs and biological products
during the COVID-19 pandemic. On December 8, 2021, FDA issued an EUA to
AZ for the biological product EVUSHELD (tixagevimab co-packaged with
cilgavimab), subject to the terms of the Authorization. On December 22,
2021, FDA issued an EUA to Pfizer for the drug PAXLOVID (nirmatrelvir
co-packaged with ritonavir), subject to the terms of the Authorization.
On December 23, 2021, FDA issued an EUA to Merck for the drug
molnupiravir, subject to the terms of the Authorization. The initial
Authorizations, which are included below in their entirety after
section IV of this document (not including the authorized versions of
the fact sheets and other written materials), provide an explanation of
the reasons for issuance, as required by section 564(h)(1) of the FD&C
Act. Any subsequent reissuances of these Authorizations can be found on
FDA's web page at: https://www.fda.gov/emergency-preparedness-and-response/mcm-legal-regulatory-and-policy-framework/emergency-use-authorization.

IV. Electronic Access

    An electronic version of this document and the full text of the
Authorizations and are available on the internet at: https://www.fda.gov/emergency-preparedness-and-response/mcm-legal-regulatory-and-policy-framework/emergency-use-authorization.
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    Dated: January 28, 2022.
Lauren K. Roth,
Associate Commissioner for Policy.
[FR Doc. 2022-02359 Filed 2-3-22; 8:45 am]
BILLING CODE 4164-01-C


[Federal Register: February 26, 2010 (Volume 75, Number 38)]
[Notices]
[Page 8957-8959]
[DOCID:fr26fe10-69]

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

DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2009-N-0373]

Agency Information Collection Activities; Submission for Office
of Management and Budget Review; Comment Request; Mental Models Study
of Recruitment and Retention of Pregnant Women Into An Asthma Pregnancy
Registry

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice.

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

SUMMARY: The Food and Drug Administration (FDA) is announcing that a
proposed collection of information has been submitted to the Office of
Management and Budget (OMB) for review and clearance under the
Paperwork Reduction Act of 1995.

DATES: Fax written comments on the collection of information by March
29, 2010.

ADDRESSES: To ensure that comments on the information collection are
received, OMB recommends that written comments be faxed to the Office
of Information and Regulatory Affairs, OMB, Attn: FDA Desk Officer,
FAX:<PHONE_NUMBER>, or e-mailed to<EMAIL_ADDRESS>All
comments should be identified with the OMB control number 0910-NEW and
title Mental Models Study of Recruitment and Retention of Pregnant
Women Into An Asthma Pregnancy Registry. Also include the FDA docket
number found in brackets in the heading of this document.

FOR FURTHER INFORMATION CONTACT: Elizabeth Berbakos, Office of
Information Management, Food and Drug Administration, 1350 Piccard Dr.,
PI50-400B, Rockville, MD 20850,<PHONE_NUMBER>,
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: In compliance with 44 U.S.C. 3507, FDA has
submitted the following proposed collection of information to OMB for
review and clearance.

Mental Models Study of Recruitment and Retention of Pregnant Women Into
An Asthma Pregnancy Registry--(OMB Control Number 0910)--NEW

    The authority for FDA to collect the information derives from the
FDA Commissioner's authority, as specified in section 903(d)(2) of the
Federal Food, Drug, and Cosmetic Act (21 U.S.C. 393(d)(2)).
    The proposed information collection will help FDA advance public
health by identifying priorities, perceptions, and communication needs
about how pregnant women and their health care providers make decisions
about participation in a pregnancy registry. Understanding these
priorities, perceptions, and communication needs will foster more
effective approaches to recruitment of pregnant women into pregnancy
registries and full retention of those women until the end of the
registry study period. Ultimately, early enrollment and complete
followup of women in pregnancy registries will strengthen the quality
of safety data about use of needed medications during pregnancy.
    Before a medication is approved by FDA for sale in the United
States, pregnant women are rarely included in experimental research
studies of the medication because of concerns that the experimental
treatment may harm the developing fetus and/or the pregnant woman. As a
result, when a medication is approved for marketing in the United
States, little systematically collected human data are available to
define the chance of serious side effects in pregnant women and/or
their developing fetuses from use of the medication during pregnancy.
    A pregnancy registry is a research study conducted after a
medication has been approved, during which pregnant women being treated
with the medication are observed to identify possible harms to the
woman and/or to her developing fetus. Pregnant women voluntarily enroll
in a pregnancy registry; data about the pregnancy, labor, delivery, and
newborn are collected and analyzed to identify any serious adverse
outcomes and consider whether use of the medication may be linked to
any observed harm. The quality of pregnancy registry data is enhanced
by enrollment of women early in their pregnancy and by complete
followup of all enrolled pregnancies to the end of the registry study
period. Ultimately, high quality human

pregnancy data gathered through a pregnancy registry and incorporated
into medical product labeling will provide patients and their health
care providers useful information so they may make informed medical
treatment decisions during pregnancy. Data collected from this mental
models study will be incorporated into recommendations for improvement
of the quality of pregnancy registries, ultimately improving medical
treatment decisions, and potentially improving pregnancy outcomes.
    FDA engages in various regulatory and communication activities to
support and at times require collection of safety data through
establishment of a pregnancy registry. Pregnancy exposure registries
are a major source of human pregnancy data for product labeling;
therefore, FDA is committed to fostering ongoing improvements in the
design and conduct of pregnancy registries. In 2002, FDA issued a
guidance document entitled ``Establishing Pregnancy Exposure
Registries'' (see http://www.fda.gov/downloads/Drugs/
GuidanceComplianceRegulatoryInformation/Guidances/ucm071639.pdf). This
guidance provides an overview of pregnancy exposure registries,
describing when and how to conduct a pregnancy registry about treatment
of a disease in pregnancy or use of a specific medication or group of
medications during pregnancy. FDA's Office of Women's Health maintains
a list of current pregnancy registries on its Web site, see http://
www.fda.gov/ScienceResearch/SpecialTopics/WomensHealthResearch/
ucm134844.htm. FDA regulations (21 CFR 201.57) describe the content of
required product labeling for prescription drugs. In the Federal
Register of May 29, 2008 (73 FR 30831), FDA published a proposed rule
to amend the agency's regulations for required labeling for drugs and
biologics when they are used during pregnancy or breastfeeding. When
finalized, these revised regulations will improve labeling information
about the effects of medicines used during pregnancy and breastfeeding.
Enactment of the Food and Drug Administration Amendments Act of 2007
gave FDA new legal authority to require postapproval studies to assess
certain safety concerns, including, in certain situations,
establishment of a pregnancy registry. Through this data collection and
analysis, FDA will identify and address the perceptions and
communication needs of pregnant women and health care providers to
support their participation in pregnancy registries.
    The project will use ``mental modeling,'' a qualitative research
method that compares a model of the priorities, perceptions,
communication needs, and decisionmaking processes of a group or groups
to a model of the same priorities, perceptions, communication needs,
and decisionmaking processes developed from expert knowledge and
experience. In this study, the decision models of women who are current
or potential participants in a pregnancy registry and of health care
providers who have participated or might participate in a pregnancy
registry will be derived through qualitative structured interviews. The
project focuses on an asthma disease-based pregnancy registry; the
three cohorts to be interviewed are described in detail in the
following paragraphs.
    Using information gathered from the interviews, the decision model
about pregnancy registry involvement for pregnant women and health care
providers will be developed. Once developed, that decision model will
be compared to decision models about pregnancy registry involvement
that were derived from experts in the fields of obstetrical and asthma
treatment during pregnancy, design and conduct of pregnancy registries,
FDA medication regulation, and biomedical ethics. FDA will use
telephone interviews with the three cohorts to determine the
priorities, perceptions, communication needs, and other factors that
influence decisions about participation in a pregnancy registry by
pregnant women and health care providers. A comparison between an
expert model and models based on the information collected directly
from women and health care providers may identify consequential
perception, priority, and communication gaps. These critical areas can
then be redressed through strategic efforts to foster involvement in
pregnancy registries designed by FDA or others.
    Using a protocol derived from the research that resulted in the
``expert model,'' trained interviewers will conduct 1-on-1 telephone
discussions with a total of 60 individuals (20 individuals per cohort)
from the 3 cohorts described here:
    (1) Potential Pregnancy Registry Participants: Women older than 18
years who are currently being treated for asthma and are pregnant or
have been pregnant within the past 18 months, and who may or may not
currently be participating in a pregnancy registry;
    (2) Current Pregnancy Registry Participants: Pregnant women older
than 18 years who are current participants in any pregnancy registry
for a chronic condition; and
    (3) Health Care Providers: To include a mix of health care
providers (including specialists, obstetrician-gynecologists, and
primary care providers) some who have participated in a pregnancy
registry and some who have not participated in a pregnancy registry.
    In the Federal Register of August 25, 2009 (74 FR 42901), FDA
published a 60-day notice requesting public comment on the proposed
collection of information. One comment was received stating that the
stakeholder agreed that the proposed study was valid and could provide
information to support development of a clinically useful pregnancy
registry. The stakeholder requested information about how physicians
would be chosen for study participation and which subspecialties would
be represented in the cohort. Noting that diversity would be
beneficial, the comment suggested inclusion of physicians practicing in
the following areas: Allergy/immunology, pulmonology, obstetrics and
gynecology, and primary care.
    FDA's response is, the Health Care Providers (HCPs) cohort for this
mental models study will include a mix of targeted or known HCPs who
have participated in pregnancy registries, a variety of specialists who
may or may not have participated in pregnancy registries, and Ob/Gyn
and primary care providers who may or may not have participated in
pregnancy registries. Various resources may be used to identify a
diverse sample of prospective primary care and subspecialty HCPs who
practice in a variety of clinical settings. Examples might include
physicians with privileges at or who refer/transfer patient care to
tertiary care hospitals and HCPs who have contacted the Organization
for Teratology Information Specialists regarding drug exposures during
pregnancy or about pregnancy registry enrollment. The cohort of 20 HCPs
will be interviewed by trained interviewers in 1-on-1 in-depth
telephone interviews. The telephone interactions will take
approximately 60 minutes and will include approximately 45 minutes of
structured interview.
    FDA estimates the burden of this collection of information as
follows:

                                 Table 1.--Estimated Annual Reporting Burden\1\
----------------------------------------------------------------------------------------------------------------
      No. of         Annual Frequency      Total Annual
    Respondents        per Response          Responses         Hours per  Response            Total Hours
----------------------------------------------------------------------------------------------------------------
60                                   1                  60                        1.0                       60.0
----------------------------------------------------------------------------------------------------------------
Total               ..................  ..................  .........................                       60.0
----------------------------------------------------------------------------------------------------------------
\1\ There are no capital costs or operating and maintenance costs associated with this collection of
  information.

    The study will involve about 60 respondents and take approximately
1 hour each to complete. These estimates are based on the contractor's
extensive experience with mental models research.

    Dated: February 22, 2010.
Leslie Kux,
Acting Assistant Commissioner for Policy.
[FR Doc. 2010-3912 Filed 2-25-10; 8:45 am]
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