[Federal Register Volume 87, Number 71 (Wednesday, April 13, 2022)]
[Notices]
[Pages 21957-21959]
[FR Doc No: 2022-07845]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-94639; File No. SR-NYSECHX-2022-05]

Self-Regulatory Organizations; NYSE Chicago, Inc.; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To Extend
the Current Pilot Program Related to Rule 7.10

April 7, 2022.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that, on April 5, 2022, the NYSE Chicago, Inc. (``NYSE Chicago''
or the ``Exchange'') filed with the Securities and Exchange Commission
(the ``Commission'') the proposed rule change as described in Items I
and II below, which Items have been prepared by the self-regulatory
organization. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to extend the current pilot program related
to Rule 7.10 (Clearly Erroneous Executions) to the close of business on
July 20, 2022. The proposed rule change is available on the Exchange's
website at www.nyse.com, at the principal office of the Exchange, and
at the Commission's Public Reference Room.

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

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

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

1. Purpose
    The purpose of the proposed rule change is to extend the current
pilot program related to Rule 7.10 (Clearly Erroneous Executions) to
the close of business on July 20, 2022. The pilot program is currently
due to expire on April 20, 2022.
    On September 10, 2010, the Commission approved, on a pilot basis,
changes to Article 20, Rule 10 that, among other things: (i) Provided
for uniform treatment of clearly erroneous execution reviews in multi-
stock events involving twenty or more securities; and (ii) reduced the
ability of the Exchange to deviate from the objective standards set
forth in the rule.\4\ In 2013, the Exchange adopted a provision
designed to address the operation of the Plan.\5\ Finally, in 2014, the
Exchange adopted two additional provisions providing that: (i) A series
of transactions in a particular security on one or more trading days
may be viewed as one event if all such transactions were effected based
on the same fundamentally incorrect or grossly misinterpreted issuance
information resulting in a severe valuation error for all such
transactions; and (ii) in the event of any disruption or malfunction in
the operation of the electronic communications and trading facilities
of an Exchange, another SRO, or responsible single plan processor in
connection with the transmittal or receipt of a trading halt, an
Officer, acting on his or her own motion, shall nullify any transaction
that occurs after a trading halt has been declared by the primary
listing market for a security and before such trading halt has
officially ended according to the primary listing market.\6\
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    \4\ See Securities Exchange Act Release No. 62886 (Sept. 10,
2010), 75 FR 56613 (Sept. 16, 2010) (SR-CHX-2010-13).
    \5\ See Securities Exchange Act Release No. 68802 (Feb. 1,
2013), 78 FR 9092 (Feb. 7, 2013) (SR-CHX-2013-04).
    \6\ See Securities Exchange Act Release No. 72434 (June 19,
2014), 79 FR 36110 (June 25, 2014) (SR-CHX-2014-06).
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    These changes were originally scheduled to operate for a pilot
period to coincide with the pilot period for the Plan to Address
Extraordinary Market Volatility (the ``Limit Up-Limit Down Plan'' or
``LULD Plan''),\7\ including any extensions to the pilot period for the
LULD Plan.\8\ In April 2019, the Commission approved an amendment to
the LULD Plan for it to operate on a

permanent, rather than pilot, basis.\9\ In light of that change, the
Exchange amended Article 20, Rule 10 to untie the pilot program's
effectiveness from that of the LULD Plan and to extend the pilot's
effectiveness to the close of business on October 18, 2019.\10\ After
the Commission approved the Exchange's proposal to transition to
trading on Pillar,\11\ the Exchange amended the corresponding Pillar
rule--Rule 7.10--to extend the pilot's effectiveness to the close of
business on April 20, 2020,\12\ October 20, 2020,\13\ April 20,
2021,\14\ October 20, 2021,\15\ and April 20, 2022.\16\
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    \7\ See Securities Exchange Act Release No. 67091 (May 31,
2012), 77 FR 33498 (June 6, 2012) (the ``Limit Up-Limit Down
Release'').
    \8\ See Securities Exchange Act Release No. 71782 (March 24,
2014), 79 FR 17630 (March 28, 2014) (SR-CHX-2014-04).
    \9\ See Securities Exchange Act Release No. 85623 (April 11,
2019), 84 FR 16086 (April 17, 2019) (approving Eighteenth Amendment
to LULD Plan).
    \10\ See Securities Exchange Act Release No. 85533 (April 5,
2019), 84 FR 14701 (April 11, 2019) (SR-NYSECHX-2019-04).
    \11\ See Securities Exchange Act Release No. 87264 (October 9,
2019), 84 FR 55345 (October 16, 2019) (SR-NYSECHX-2019-08). Article
20, Rule 10 is no longer applicable to any securities that trade on
the Exchange.
    \12\ See Securities Exchange Act Release No. 87351 (October 18,
2019), 84 FR 57068 (October 24, 2019) (SR-NYSECHX-2019-13).
    \13\ See Securities Exchange Act Release No. 88591 (April 8,
2020), 85 FR 20771 (April 14, 2020) (SR-NYSECHX-2020-09).
    \14\ See Securities Exchange Act Release No. 90156 (October 13,
2020), 85 FR 66384 (October 19, 2020) (SR-NYSECHX-2020-29).
    \15\ See Securities Exchange Act Release No. 91550 (April 14,
2021), 86 FR 20560 (April 20, 2021) (SR-NYSECHX-2021-06).
    \16\ See Securities Exchange Act Release No. 93360 (October 15,
2021), 86 FR 58313 (October 21, 2021) (SR-NYSECHX-2021-15).
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    The Exchange now proposes to amend Rule 7.10 to extend the pilot's
effectiveness for a further three months until the close of business on
July 20, 2022. If the pilot period is not either extended, replaced or
approved as permanent, the prior versions of paragraphs (c), (e)(2),
(f), and (g) of Article 20, Rule 10 prior to being amended by SR-CHX-
2010-13 shall be in effect, and the provisions of paragraphs (i)
through (k) shall be null and void.\17\ In such an event, the remaining
sections of Article 20, Rule 10 would continue to apply to all
transactions executed on the Exchange. The Exchange understands that
the other national securities exchanges and Financial Industry
Regulatory Authority (``FINRA'') will also file similar proposals to
extend their respective clearly erroneous execution pilot programs, the
substance of which are identical to Rule 7.10.
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    \17\ See supra notes 4-6. The prior versions of paragraphs (c),
(e)(2), (f), and (g) generally provided greater discretion to the
Exchange with respect to breaking erroneous trades.
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    The Exchange does not propose any additional changes to Rule 7.10.
Extending the effectiveness of these rules for an additional three
months will provide the Exchange and other self-regulatory
organizations additional time to consider whether further amendments to
the clearly erroneous execution rules are appropriate.
2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with
the requirements of Section 6(b) of the Act,\18\ in general, and
Section 6(b)(5) of the Act,\19\ in particular, in that it is designed
to remove impediments to and perfect the mechanism of a free and open
market and a national market system, to promote just and equitable
principles of trade, and, in general, to protect investors and the
public interest and not to permit unfair discrimination between
customers, issuers, brokers, or dealers. The Exchange believes that the
proposed rule change promotes just and equitable principles of trade in
that it promotes transparency and uniformity across markets concerning
review of transactions as clearly erroneous. The Exchange believes that
extending the clearly erroneous execution pilot under Rule 7.10 for an
additional three months would help assure that the determination of
whether a clearly erroneous trade has occurred will be based on clear
and objective criteria, and that the resolution of the incident will
occur promptly through a transparent process. The proposed rule change
would also help assure consistent results in handling erroneous trades
across the U.S. equities markets, thus furthering fair and orderly
markets, the protection of investors and the public interest. Based on
the foregoing, the Exchange believes the amended clearly erroneous
executions rule should continue to be in effect on a pilot basis while
the Exchange and other self-regulatory organizations consider whether
further amendments to these rules are appropriate.
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    \18\ 15 U.S.C. 78f(b).
    \19\ 15 U.S.C. 78f(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change would
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. The proposal would ensure
the continued, uninterrupted operation of harmonized clearly erroneous
execution rules across the U.S. equities markets while the Exchange and
other self-regulatory organizations consider whether further amendments
to these rules are appropriate. The Exchange understands that the other
national securities exchanges and FINRA will also file similar
proposals to extend their respective clearly erroneous execution pilot
programs. Thus, the proposed rule change will help to ensure
consistency across market centers without implicating any competitive
issues.

C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others

    No written comments were solicited or received with respect to the
proposed rule change.

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

    The Exchange has filed the proposed rule change pursuant to Section
19(b)(3)(A)(iii) of the Act \20\ and Rule 19b-4(f)(6) thereunder.\21\
Because the proposed rule change does not: (i) Significantly affect the
protection of investors or the public interest; (ii) impose any
significant burden on competition; and (iii) become operative prior to
30 days from the date on which it was filed, or such shorter time as
the Commission may designate, if consistent with the protection of
investors and the public interest, the proposed rule change has become
effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-
4(f)(6)(iii) thereunder.\22\
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    \20\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \21\ 17 CFR 240.19b-4(f)(6).
    \22\ 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 Commission has waived the five-day prefiling requirement in this
case.
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    A proposed rule change filed under Rule 19b-4(f)(6) \23\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b-4(f)(6)(iii),\24\ the Commission
may designate a shorter time if such action is consistent with the
protection of investors and the public interest. The Exchange asked
that the Commission waive the 30 day operative delay so that the
proposal may become operative immediately upon filing. Waiver of the
30-day operative delay would extend the protections provided by the
current pilot program, without any changes, while the Exchange and
other self-regulatory organizations consider whether further amendments

to these rules are appropriate. Therefore, the Commission hereby waives
the 30-day operative delay and designates the proposed rule change as
operative upon filing.\25\
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    \23\ 17 CFR 240.19b-4(f)(6).
    \24\ 17 CFR 240.19b-4(f)(6)(iii).
    \25\ For purposes only of waiving the 30-day operative delay,
the Commission has also considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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    At any time within 60 days of the filing of such proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings under
Section 19(b)(2)(B) \26\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
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    \26\ 15 U.S.C. 78s(b)(2)(B).
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IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include
File Number SR-NYSECHX-2022-05 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-NYSECHX-2022-05. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549, on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of the filing also will be available for inspection
and copying at the principal office of the Exchange.
    All comments received will be posted without change. Persons
submitting comments are cautioned that we do not redact or edit
personal identifying information from comment submissions.
    You should submit only information that you wish to make available
publicly. All submissions should refer to File Number SR-NYSECHX-2022-
05 and should be submitted on or before May 4, 2022.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\27\
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    \27\ 17 CFR 200.30-3(a)(12).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-07845 Filed 4-12-22; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: February 13, 2009 (Volume 74, Number 29)]
[Rules and Regulations]
[Page 7181-7184]
[DOCID:fr13fe09-4]

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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 147

[Docket No. USCG-2008-1051]
RIN 1625-AA00

Safety Zone; Perdido Regional Host Outer Continental Shelf
Platform in the Gulf of Mexico

AGENCY: Coast Guard, DHS.

ACTION: Interim rule with request for comments.

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SUMMARY: The Coast Guard is establishing a safety zone around the
Perdido Regional Host (PRH), a high-production, manned oil and natural
gas platform. The platform needs to be protected from vessels operating
outside the normal shipping channels and fairways. Placing a safety
zone around the platform will significantly reduce the threat of
allisions, oil spills, and releases of natural gas, and thereby protect
the safety of life, property, and the environment.

DATES: This interim rule is effective February 13, 2009. Comments and
related material must reach the Docket Management Facility no later
than April 14, 2009.

ADDRESSES: You may submit comments identified by docket number USCG-
2008-1051 using any one of the following methods:
    (1) Federal eRulemaking Portal: http://www.regulations.gov.
    (2) Fax:<PHONE_NUMBER>.
    (3) Mail: Docket Management Facility (M-30), U.S. Department of
Transportation, West Building Ground Floor, Room W12-140, 1200 New
Jersey Avenue, SE., Washington, DC 20590-0001.
    (4) 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>.
    To avoid duplication, please use only one of these methods. For
instructions on submitting comments, see the ``Public Participation and
Request for Comments'' portion of the SUPPLEMENTARY INFORMATION section
below.

FOR FURTHER INFORMATION CONTACT: If you have questions on this interim
rule, call Lieutenant Junior Grade Wes Geyer, Waterways Management
Division, U.S. Coast Guard Sector Corpus Christi,<PHONE_NUMBER>. If
you have questions on viewing or submitting material to the docket,
call Renee V. Wright, Program Manager, Docket Operations, telephone
202-366-9826.

SUPPLEMENTARY INFORMATION:

Public Participation and Request for Comments

    We encourage you to participate in this rulemaking by submitting
comments and related materials. All comments received will be posted,
without change to http://www.regulations.gov and will include any
personal information you have provided.

Submitting Comments

    If you submit a comment, please include the docket number for this
rulemaking (USCG-2008-1051), indicate the specific section of this
document to which each comment applies, and provide a reason for each
suggestion or recommendation. You may submit your comments and material
online, or by fax, mail or hand delivery, but please use only one of
these means. We recommend that you include your name and a mailing
address, an e-mail address or a phone number in the body of your
document so that we can contact you if we have questions regarding your
submission.
    To submit your comment online, go to http://www.regulations.gov,
select the Advanced Docket Search option on the right side of the
screen, insert ``USCG-2008-1051'' in the Docket ID box, press Enter,
and then click on the balloon shape in the Actions column. If you
submit your comments by mail or hand delivery, submit them in an
unbound format, no larger than 8\1/2\ by 11 inches, suitable for
copying and electronic filing. If you submit them by mail and would
like to know that they reached the Facility, please enclose a stamped,
self-addressed postcard or envelope. We will consider all comments and
material received during the comment period and may change this rule
based on your comments.

Viewing Comments and Documents

    To view comments, as well as documents mentioned in this preamble
as being available in the docket, go to http://www.regulations.gov,
select the Advanced Docket Search option on the right side of the
screen, insert USCG-2008-1051 in the Docket ID box, press Enter, and
then click on the item in the Docket ID column. You may also visit
either the Docket Management Facility in Room W12-140 on the ground
floor of the Department of Transportation West Building, 1200 New
Jersey Avenue, SE., Washington, DC 20590, between 9 a.m. and 5 p.m.,
Monday through Friday, except Federal holidays; or the U.S. Coast Guard
Sector Corpus Christi office located at 555 N. Carancahua St., Suite
500, Corpus Christi, TX 78478 between 8 a.m. and 3:30 p.m., Monday
through Friday except Federal holidays. We have an agreement with the
Department of Transportation to use the Docket Management Facility.

Privacy Act

    Anyone can search the electronic form of comments received into any
of our dockets by the name of the individual submitting the comment (or
signing the comment, if submitted on behalf of an association,
business, labor union, etc.). You may review a Privacy Act notice
regarding our public dockets in the January 17, 2008 issue of the
Federal Register (73 FR 3316).

Public Meeting

    We do not now plan to hold a public meeting. But you may submit a
request for one to the Docket Management Facility at the address under
ADDRESSES explaining why one would be beneficial. If we determine that
one would aid this rulemaking, we will hold one at a time and place
announced by a later notice in the Federal Register.

Regulatory Information

    The Coast Guard is issuing this interim rule without prior notice
and opportunity to comment pursuant to authority under section 4(a) of
the Administrative Procedure Act (APA) (5 U.S.C. 553(b)). This
provision authorizes an agency to issue a rule without prior notice and
opportunity to comment when the agency for good cause finds that those
procedures are ``impracticable, unnecessary, or contrary to the public
interest.'' Under 5 U.S.C. 553(b)(B), the Coast Guard finds that good
cause exists for not publishing a notice of proposed rulemaking (NPRM)
with respect to this rule because it is in the best interest of the
public to ensure, to the extent practicable the threat of allisions,
oil spills, and releases of natural gas, and thereby protect the safety
of life, property, and the environment. For those same reasons, under 5
U.S.C. 553(d)(3), the Coast Guard finds that good cause exists for
making this rule effective less than 30 days after publication in the
Federal Register.

Background and Purpose

    The safety zone established by this regulation is in the deepwater
area of the Gulf of Mexico, located at 26[deg]07[min]44[sec] N,
094[deg]53[min]53[sec] W. For the purposes of this regulation, the
deepwater area is considered to be waters of 304.8 meters (1,000 feet)
or greater depth extending to the limits of the Exclusive Economic Zone
(EEZ) contiguous to the territorial sea of the United States and
extending to a distance up to 200 nautical miles from the baseline from
which the breadth of the sea is measured. Navigation in the area of the
safety zone consists of large commercial shipping vessels, fishing
vessels, cruise ships, tugs with tows and the occasional recreational
vessel. The deepwater area also includes an extensive system of
fairways. Shell Offshore, Inc. requested that the Coast Guard establish
a safety zone around the Perdido Regional Host. The request for the
safety zone was made due to the safety concerns for both the personnel
aboard the platforms and the environment. Shell Offshore, Inc.
indicated that the location, production level, and personnel levels on
board the platform make it likely that an allision with the platform
would result in a catastrophic event. Perdido Regional Host is a high
production oil and gas drilling platform producing from 100,000 barrels
of oil per day, 200 million standard cubic feet of gas per day, and is
manned with a crew of

approximately 150 people. The Coast Guard has reviewed Shell Offshore
Inc.'s concerns and agrees that the risk of allision to the platforms
and the potential for loss of life and damage to the environment
resulting from such an accident warrants the establishment of this
safety zone. The regulation would significantly reduce the threat of
allisions, oil spills, and releases of natural gas and increase the
safety of life, property, and the environment in the Gulf of Mexico by
prohibiting entry into the zone unless specifically authorized by the
Captain of the Port Corpus Christi or a designated representative.
    Because this safety zone could affect the routes of commercial
fishermen and other vessels, we are interested in receiving comments as
to how this may affect trade and fishing in the area before issuing a
final rule.

Discussion of the Interim Rule

    The Coast Guard is establishing a safety zone in the deepwater area
of the Gulf of Mexico, located at 26[deg]07[min]44[sec] N,
094[deg]53[min]53[sec] W. Entry into this zone is prohibited unless
specifically authorized by the Captain of the Port Corpus Christi or a
designated representative. Persons or vessels requiring entry into or
passage through must request permission from the Captain of the Port
Corpus Christi or a designated representative. They may be contacted on
VHF-FM Channel 13 or 16 or by telephone at<PHONE_NUMBER>.

Regulatory Analyses

    We developed this interim rule after considering numerous statutes
and executive orders related to rulemaking. Below we summarize our
analyses based on 13 of these statutes or executive orders.

Regulatory Planning and Review

    This rule is not a significant regulatory action under section 3(f)
of Executive Order 12866, Regulatory Planning and Review, and does not
require an assessment of potential costs and benefits under section
6(a)(3) of that Order. The Office of Management and Budget has not
reviewed it under that Order.
    This rule is not a significant regulatory action due to the
location of the Perdido Regional Host--on the Outer Continental Shelf--
and its distance from both land and safety fairways. Because of the
location and distance of the Perdido Regional Host vessels traversing
waters near the safety zone will be able to safely travel around the
zone without incurring additional costs.

Small Entities

    Under the Regulatory Flexibility Act (5 U.S.C. 601-612), we have
considered whether this rule would have a significant economic impact
on a substantial number of small entities. The term ``small entities''
comprises small businesses, not-for-profit organizations that are
independently owned and operated and are not dominant in their fields,
and governmental jurisdictions with populations of less than 50,000.
    The Coast Guard certifies under 5 U.S.C. 605(b) that this rule will
not have a significant economic impact on a substantial number of small
entities.
    This rule will affect the following entities, some of which may be
small entities: The owners or operators of vessels intending to transit
or anchor in Alaminos Canyon block 856.
    This safety zone will not have a significant economic impact or a
substantial number of small entities for the following reasons: This
rule will enforce a safety zone around a production platform that is in
an area of the Gulf of Mexico not frequented by vessel traffic and is
not in close proximity to a safety fairway. Further, vessel traffic can
pass safely around the safety zone without incurring additional costs.
    If you think that your business, organization, or governmental
jurisdiction qualifies as a small entity and that this rule would have
a significant economic impact on it, please submit a comment (see
ADDRESSES) explaining why you think it qualifies and how and to what
degree this rule would economically affect it.

 Assistance for Small Entities

    Under section 213(a) of the Small Business Regulatory Enforcement
Fairness Act of 1996 (Pub. L. 104-121), we offer to assist small
entities in understanding the rule so that they can better evaluate its
effects on them and participate in the rulemaking process.
    Small businesses may send comments on the actions of Federal
employees who enforce, or otherwise determine compliance with, Federal
regulations to the Small Business and Agriculture Regulatory
Enforcement Ombudsman and the Regional Small Business Regulatory
Fairness Boards. The Ombudsman evaluates these actions annually and
rates each agency's responsiveness to small business. If you wish to
comment on actions by employees of the Coast Guard, call 1-888-REG-FAIR
(1-888-734-3247). The Coast Guard will not retaliate against small
entities that question or complain about this rule or any policy or
action of the Coast Guard.

Collection of Information

    This rule calls for no new collection of information under the
Paperwork Reduction Act of 1995 (44 U.S.C. 3501-3520).

Federalism

    A rule has implications for federalism under Executive Order 13132,
Federalism, if it has a substantial direct effect on State or local
governments and would either preempt State law or impose a substantial
direct cost of compliance on them. We have analyzed this rule under
that Order and have determined that it does not have implications for
federalism.

Unfunded Mandates Reform Act

    The Unfunded Mandates Reform Act of 1995 (2 U.S.C. 1531-1538)
requires Federal agencies to assess the effects of their discretionary
regulatory actions. In particular, the Act addresses actions that may
result in the expenditure by a State, local, or tribal government, in
the aggregate, or by the private sector of $100,000,000 or more in any
one year. Though this rule will not result in such an expenditure, we
do discuss the effects of this rule elsewhere in this preamble.

Taking of Private Property

    This rule would not effect a taking of private property or
otherwise have taking implications under E.O. 12630, Governmental
Actions and Interference with Constitutionally Protected Property
Rights.

Civil Justice Reform

    This rule meets applicable standards in sections 3(a) and 3(b)(2)
of E.O. 12988, Civil Justice Reform, to minimize litigation, eliminate
ambiguity, and reduce burden.

Protection of Children

    We have analyzed this rule under Executive Order 13045, Protection
of Children from Environmental Health Risks and Safety Risks. This rule
is not an economically significant rule and does not create an
environmental risk to health or risk to safety that may
disproportionately affect children.

Indian Tribal Governments

    This rule does not have tribal implications under Executive Order
13175, Consultation and Coordination with Indian Tribal Governments,
because it does not have a substantial direct effect on one or more
Indian tribes, on the relationship between the

Federal Government and Indian tribes, or on the distribution of power
and responsibilities between the Federal Government and Indian tribes.

Energy Effects

    We have analyzed this rule under Executive Order 13211, Actions
Concerning Regulations That Significantly Affect Energy Supply,
Distribution, or Use. We have determined that it is not a ``significant
energy action'' under that order because it is not a ``significant
regulatory action'' under Executive Order 12866 and is not likely to
have a significant adverse effect on the supply, distribution, or use
of energy. The Administrator of the Office of Information and
Regulatory Affairs has not designated it as a significant energy
action. Therefore, it does not require a Statement of Energy Effects
under Executive Order 13211.

Technical Standards

    The National Technology Transfer and Advancement Act (NTTAA) (15
U.S.C. 272 note) directs agencies to use voluntary consensus standards
in their regulatory activities unless the agency provides Congress,
through the Office of Management and Budget, with an explanation of why
using these standards would be inconsistent with applicable law or
otherwise impractical. Voluntary consensus standards are technical
standards (e.g., specifications of materials, performance, design, or
operation; test methods; sampling procedures; and related management
systems practices) that are developed or adopted by voluntary consensus
standards bodies.
    This rule does not use technical standards. Therefore, we did not
consider the use of voluntary consensus standards.

Environment

    We have analyzed this rule under Department of Homeland Security
Management Directive 5100.1 and Commandant Instruction M16475.lD, which
guide the Coast Guard in complying with the National Environmental
Policy Act of 1969 (NEPA) (42 U.S.C. 4321-4370f), and have concluded
under the Instruction that there are no factors in this case that would
limit the use of a categorical exclusion under section 2.B.2 of the
Instruction. Therefore, this rule is categorically excluded, under
figure 2-1, paragraph (34)(g), of the Instruction, from further
environmental documentation since implementation of this action will
not result in any significant cumulative impacts on the human
environment; does not involve a substantial change to existing
environmental conditions; and is consistent with Federal, State and/or
local laws or administrative determinations relating to the
environment.
    An environmental analysis checklist and a categorical exclusion
determination will be available in the docket where indicated under
ADDRESSES.

List of Subjects in 33 CFR Part 147

    Continental shelf, Marine safety, Navigation (water).

0
For the reasons discussed in the preamble, the Coast Guard amends 33
CFR part 147 as follows:

PART 147--[SAFETY ZONES]

0
1. The authority citation for Part 147 continues to read as follows:

    Authority: 14 U.S.C. 85; 43 U.S.C. 1333; and Department of
Homeland Security Delegation No. 0170.1.

0
2. Add Sec.  147.845 to read as follows:

Sec.  147.845  Perdido Regional Host safety zone.

    (a) Description. The Perdido Regional Host is located at position
26[deg]07'44'' N, 094[deg]53'53'' W. The area within 500 meters (1640.4
feet) from each point on the structure's outer edge is a safety zone.
    (b) Regulation. No vessel may enter or remain in this safety zone
except:
    (1) An attending vessel;
    (2) A vessel under 100 feet in length overall not engaged in
towing; or
    (3) A vessel authorized by the Commander, Eighth Coast Guard
District.

     Dated: October 31, 2008.
J.H. Korn,
Captain, U.S. Coast Guard, Commander, 8th Coast Guard District.

    Editorial Note: This document was received in the Office of the
Federal Register on Tuesday, February 10, 2009.
[FR Doc. E9-3124 Filed 2-12-09; 8:45 am]

BILLING CODE 4910-15-P


[Federal Register Volume 77, Number 157 (Tuesday, August 14, 2012)]
[Notices]
[Pages 48566-48567]
[FR Doc No: 2012-19858]

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SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Release No. 30164; File No. 812-14024]

The Hartford Mutual Funds, Inc., et al.; Notice of Application

August 8, 2012.
AGENCY: Securities and Exchange Commission (``Commission'').

ACTION: Notice of an application under section 6(c) of the Investment
Company Act of 1940 (``Act'') for an exemption from rule 12d1-2(a)
under the Act.

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SUMMARY: Applicants request an order to permit open-end management
investment companies relying on rule 12d1-2 under the Act to invest in
certain financial instruments.
    Applicants: The Hartford Mutual Funds, Inc., The Hartford Mutual
Funds II, Inc., Hartford Series Fund, Inc., Hartford HLS Series Fund
II, Inc., Hartford Variable Insurance Trust I, Hartford Variable
Insurance Trust II (collectively, the ``Companies''); Hartford
Investment Financial Services, LLC, HL Investment Advisors, LLC,
Hartford Investment Advisory Company, LLC (each, an ``Initial Adviser''
and collectively, the ``Initial Advisers''); and Hartford Securities
Distribution Company, Inc.

DATES: Filing Date: The application was filed on April 11, 2012 and
amended on July 30, 2012.
    Hearing or Notification of Hearing: An order granting the
application will be issued unless the Commission orders a hearing.
Interested persons may request a hearing by writing to the Commission's
Secretary and serving applicants with a copy of the request, personally
or by mail. Hearing requests should be received by the Commission by
5:30 p.m. on September 4, 2012, and should be accompanied by proof of
service on applicants, in the form of an affidavit or, for lawyers, a
certificate of service. Hearing requests should state the nature of the
writer's interest, the reason for the request, and the issues
contested. Persons who wish to be notified of a hearing may request
notification by writing to the Commission's Secretary.

ADDRESSES: Elizabeth M. Murphy, Secretary, Securities and Exchange
Commission, 100 F Street NE., Washington, DC 20549-1090; Applicants:
200 Hopmeadow Street, Simsbury, Connecticut 06089.

FOR FURTHER INFORMATION CONTACT: Jill Ehrlich, Senior Counsel, at (202)
551-6819, or David P. Bartels, Branch Chief, at<PHONE_NUMBER>
(Division of Investment Management, Office of Investment Company
Regulation).

SUPPLEMENTARY INFORMATION: The following is a summary of the
application. The complete application may be obtained via the
Commission's Web site by searching for the file number, or for an
applicant using the Company name box, at http://www.sec.gov/search/search.htm or by calling<PHONE_NUMBER>.

Applicants' Representations

    1. Each of the Companies is organized as a Maryland corporation or
a Delaware statutory trust and is or will be registered under the Act
as an open-end management investment company. Each of the Initial
Advisers is organized as a Delaware limited liability company and is or
will be a registered investment adviser under the Investment Advisers
Act of 1940 (``Advisers Act''). Each of the Initial Advisers is or may
serve as the investment adviser to certain series of the Companies.
Hartford Securities Distribution Company, Inc., a Connecticut
corporation, is registered as a broker-dealer under the Securities
Exchange Act of 1934 (``Exchange Act'') and is or will be the
distributor for certain series of the Companies.\1\
---------------------------------------------------------------------------

    \1\ Hartford Investment Financial Services, LLC will also serve
as distributor for certain series of the Companies.
---------------------------------------------------------------------------

    2. Applicants request the exemption to the extent necessary to
permit any existing or future series of the Companies and any other
registered open-end management investment company or series thereof
that (i) is advised by an Initial Adviser or any person controlling,
controlled by or under common control with an Initial Adviser (any such
adviser, including an Initial Adviser, an ``Adviser''); \2\ (ii) is in
the same group of investment companies as defined in section
12(d)(1)(G) of the Act as the Companies; (iii) invests in other
registered open-end management investment companies

(``Underlying Funds'') in reliance on section 12(d)(1)(G) of the Act;
and (iv) is also eligible to invest in securities (as defined in
section 2(a)(36) of the Act) in reliance on rule 12d1-2 under the Act
(each a ``Fund of Funds''), to also invest, to the extent consistent
with its investment objectives, policies, strategies and limitations,
in financial instruments that may not be securities within the meaning
of section 2(a)(36) of the Act (``Other Investments'').\3\ Applicants
also request that the order exempt any entity, including any entity
controlled by or under common control with an Adviser, that now or in
the future acts as principal underwriter, or broker or dealer if
registered under the Exchange Act, with respect to the transactions
described in the application.
---------------------------------------------------------------------------

    \2\ Each Adviser will be registered under the Advisers Act.
    \3\ Every existing entity that currently intends to rely on the
requested order is named as an applicant. Any entity that relies on
the order in the future will do so only in accordance with the terms
and condition in the application.
---------------------------------------------------------------------------

    3. Consistent with its fiduciary obligations under the Act, each
Fund of Funds' board of trustees or directors will review the advisory
fees charged by the Fund of Funds' Adviser to ensure that they are
based on services provided that are in addition to, rather than
duplicative of, services provided pursuant to the advisory agreement of
any investment company in which the Fund of Funds may invest.

Applicants' Legal Analysis

    1. Section 12(d)(1)(A) of the Act provides that no registered
investment company (``acquiring company'') may acquire securities of
another investment company (``acquired company'') if such securities
represent more than 3% of the acquired company's outstanding voting
stock or more than 5% of the acquiring company's total assets, or if
such securities, together with the securities of other investment
companies, represent more than 10% of the acquiring company's total
assets. Section 12(d)(1)(B) of the Act provides that no registered
open-end investment company may sell its securities to another
investment company if the sale will cause the acquiring company to own
more than 3% of the acquired company's voting stock, or cause more than
10% of the acquired company's voting stock to be owned by investment
companies and companies controlled by them.
    2. Section 12(d)(1)(G) of the Act provides, in part, that section
12(d)(1) will not apply to securities of an acquired company purchased
by an acquiring company if: (i) The acquired company and acquiring
company are part of the same group of investment companies; (ii) the
acquiring company holds only securities of acquired companies that are
part of the same group of investment companies, government securities,
and short-term paper; (iii) the aggregate sales loads and distribution-
related fees of the acquiring company and the acquired company are not
excessive under rules adopted pursuant to section 22(b) or section
22(c) of the Act by a securities association registered under section
15A of the Exchange Act or by the Commission; and (iv) the acquired
company has a policy that prohibits it from acquiring securities of
registered open-end investment companies or registered unit investment
trusts in reliance on section 12(d)(1)(F) or (G) of the Act.
    3. Rule 12d1-2 under the Act permits a registered open-end
investment company or a registered unit investment trust that relies on
section 12(d)(1)(G) of the Act to acquire, in addition to securities
issued by another registered investment company in the same group of
investment companies, government securities, and short-term paper: (i)
Securities issued by an investment company that is not in the same
group of investment companies, when the acquisition is in reliance on
section 12(d)(1)(A) or 12(d)(1)(F) of the Act; (ii) securities (other
than securities issued by an investment company); and (iii) securities
issued by a money market fund, when the investment is in reliance on
rule 12d1-1 under the Act. For the purposes of rule 12d1-2,
``securities'' means any security as defined in section 2(a)(36) of the
Act.
    4. Section 6(c) of the Act provides that the Commission may exempt
any person, security, or transaction from any provision of the Act, or
from any rule under the Act, if such exemption is necessary or
appropriate in the public interest and consistent with the protection
of investors and the purposes fairly intended by the policies and
provisions of the Act.
    5. Applicants request an order under section 6(c) of the Act for an
exemption from rule 12d1-2(a) to allow the Funds of Funds to invest in
Other Investments while investing in Underlying Funds. Applicants state
that the Funds of Funds will comply with rule 12d1-2 under the Act, but
for the fact that the Funds of Funds may invest a portion of their
assets in Other Investments. Applicants assert that permitting the
Funds of Funds to invest in Other Investments as described in the
application would not raise any of the concerns that the requirements
of section 12(d)(1) were designed to address.
    6. Applicants assert that that the requested exemption satisfies
the standard for relief under section 6(c) of the Act.

Applicants' Condition

    Applicants agree that any order granting the requested relief will
be subject to the following condition:
    Applicants will comply with all provisions of rule 12d1-2 under the
Act, except for paragraph (a)(2) to the extent that it restricts any
Fund of Funds from investing in Other Investments as described in the
application.

    For the Commission, by the Division of Investment Management,
under delegated authority.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-19858 Filed 8-13-12; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: October 8, 2009 (Volume 74, Number 194)]
[Notices]
[Page 51845-51846]
[DOCID:fr08oc09-48]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. EL09-78-000; Docket No. ER09-1214-000]

Notice of Complaint

October 1, 2009.
    In the matter of: South Mississippi Electric Power Association,
Arkansas Electric Cooperative Corporation, Mississippi Delta Energy
Agency, Clarksdale Public Utilities Commission, Public Service
Commission of Yazoo City, Conway Corporation, West Memphis Utilities
Commission, City of Prescott, Arkansas, Louisiana Energy and Power
Authority, Lafayette Utilities System, and Municipal Energy Agency
of Mississippi, Complainants, v. Docket No. EL09-78-000 Entergy
Services, Inc., Respondent; Entergy Services, Inc. Docket No. ER09-
1214-000 (Not Consolidated).

    Take notice that on September 28, 2009, South Mississippi Electric
Power Association, Arkansas Electric Cooperative Corporation,
Mississippi Delta Energy Agency and its two members, the Clarksdale
Public Utilities Commission of the City of Clarksdale, Mississippi and
the Public Service Commission of Yazoo City of the City of Yazoo City,
Mississippi, Conway Corporation, West Memphis Utilities Commission,
City of Prescott, Arkansas, Louisiana Energy and Power Authority,
Lafayette Utilities System, and Municipal Energy Agency of Mississippi
(collectively, Joint Complainants) filed a formal complaint against
Entergy Services, Inc. (Entergy) pursuant to sections 206, 306, and 309
of the Federal Power Act (FPA), 16 U.S.C. 824e, 825e, and 825h, and
Rules 206 and 212 of the Commission's Rules of Practice and Procedure,
18 CFR 385.206 and 385.212 (2009), alleging that Entergy has not
properly implemented the rate redetermination procedures contained in
its tariff (2009 Update), and therefore, the 2009 Update filed by
Entergy in Docket No. ER09-1214-00 would impose rates and charges that
are contrary to the Tariff on file with the Commission and are unjust
and unreasonable in violation of the FPA.
    Joint Complainants certify that copies of the complaint were served
on the contacts for Entergy as listed on the Commission's list of
Corporate Officials.

    Any person desiring to intervene or to protest this filing must
file in accordance with Rules 211 and 214 of the Commission's Rules of
Practice and Procedure (18 CFR 385.211, 385.214). Protests will be
considered by the Commission in determining the appropriate action to
be taken, but will not serve to make protestants parties to the
proceeding. Any person wishing to become a party must file a notice of
intervention or motion to intervene, as appropriate. The Respondent's
answer and all interventions, or protests must be filed on or before
the comment date. The Respondent's answer, motions to intervene, and
protests must be served on the Complainants.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper using the ``eFiling'' link at http://
www.ferc.gov. Persons unable to file electronically should submit an
original and 14 copies of the protest or intervention to the Federal
Energy Regulatory Commission, 888 First Street, NE., Washington, DC
20426.
    This filing is accessible on-line at http://www.ferc.gov, using the
``eLibrary'' link and is available for review in the Commission's
Public Reference Room in Washington, DC. There is an ``eSubscription''
link on the Web site that enables subscribers to receive e-mail
notification when a document is added to a subscribed docket(s). For
assistance with any FERC Online service, please e-mail
<EMAIL_ADDRESS>or call<PHONE_NUMBER> (toll free). For
TTY, call<PHONE_NUMBER>.
    Comment Date: 5 p.m. Eastern Time on October 19, 2009.

Kimberly D. Bose,
Secretary.
[FR Doc. E9-24254 Filed 10-7-09; 8:45 am]

BILLING CODE 6717-01-P