[Federal Register: May 12, 2006 (Volume 71, Number 92)]
[Notices]
[Page 27756-27757]
[DOCID:fr12my06-111]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-53767; File No. SR-CBOE-2006-43]

Self-Regulatory Organizations; Chicago Board Options Exchange,
Incorporated; Notice of Filing and Immediate Effectiveness of a
Proposed Rule Change Relating to Its Marketing Fee Program

May 8, 2006.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on April 28, 2006, the Chicago Board Options Exchange, Incorporated
(``CBOE'' or ``Exchange'') filed with the Securities and Exchange
Commission (``Commission'') the proposed rule change as described in
Items I, II, and III below, which Items have been prepared by the
Exchange. The CBOE has designated this proposal as one establishing or
changing a due, fee, or other charge imposed by the CBOE under Section
19(b)(3)(A)(ii) of the Act \3\ and Rule 19b-4(f)(2) thereunder,\4\
which renders the proposal effective upon filing with the Commission.
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.
    \3\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \4\ 17 CFR 240.19b-4(f)(2).
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The CBOE proposes to amend its Fees Schedule and its marketing fee
program. Below is the text of the proposed rule change. Proposed new
language is in italics; deleted language is in [brackets].

Chicago Board Options Exchange, Inc.

Fees Schedule

[March 1] May 1, 2006

    1. No Change.

  2. Marketing Fee (6)(16).......................................   $.65

    3.-4. No Change.
    Footnotes:
    (1)-(5) No Change.
    (6) The Marketing Fee will be assessed only on transactions of
Market-Makers, RMMs, e-DPMs, DPMs, and LMMs resulting from orders for
less than 1,000 contracts (i) from payment accepting firms, or (ii)
that have designated a ``Preferred Market-Maker'' under CBOE Rule 8.13
at the rate of $.65 per contract on all classes of equity options,
options on HOLDRs, options on SPDRs, [and] options on DIA, options on
NDX, and options on RUT. The fee will not apply to: Market-Maker-to-
Market-Maker transactions including transactions resulting from orders
from non-member market-makers; transactions resulting from P/A orders;
transactions resulting from accommodation liquidations (cabinet
trades); and transactions resulting from dividend strategies, merger
strategies, and short stock interest strategies as defined in footnote
13 of this Fees Schedule. This fee shall not apply to index options and
options on ETFs (other than options on SPDRs, [and] options on DIA,
options on NDX, and options on RUT). A Preferred Market-Maker will only
be given access to the marketing fee funds generated from a Preferred
order if the Preferred Market-Maker has an appointment in the class in
which the Preferred order is received and executed. If less than 80% of
the marketing fee funds are paid out by the DPM/LMM or Preferred
Market-Maker in a given month, then the Exchange would refund such
surplus at the end of the month on a pro rata basis based upon
contributions made by the Market-Makers, RMMs, e-DPMs, DPMs and LMMs.
However, if 80% or more of the accumulated funds in a given month are
paid out by the DPM/LMM or Preferred Market-Maker, there will not be a
rebate for that month and the funds will carry over and will be
included in the pool of funds to be used by the DPM/LMM or Preferred
Market-Maker the following month. At the end of each quarter, the
Exchange would then refund any surplus, if any, on a pro rata basis
based upon contributions made by the Market-Makers, RMMs, DPMs, e-DPMs
and LMMs. CBOE's marketing fee program as described above will be in
effect until June 2, 2006.
    Remainder of Fees Schedule--No change.

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 Exchange 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 CBOE 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 CBOE states that, currently, its marketing fee is assessed upon
DPMs, LMMs, e-DPMs, RMMs, and Market-Makers at the rate of $.65 per
contract on transactions of Market-Makers, RMMs, e-DPMs, DPMs, and LMMs
resulting from orders for less than 1,000 contracts (i) from payment
accepting firms, or (ii) that have designated a ``Preferred Market-
Maker'' under CBOE Rule 8.13. The Exchanges notes that this fee does
not apply to: Market-Maker-to-Market-Maker transactions (which includes
all transactions between any combination of DPMs, e-DPMs, RMMs, LMMs,
and Market-Makers, and transactions resulting from orders from non-
member market-makers); transactions resulting from inbound P/A orders;
transactions resulting from accommodation liquidation (cabinet trades);
or transactions resulting from dividend strategies, merger strategies,
and short stock interest strategies. CBOE states that the marketing fee
is assessed on all equity option classes and options on HOLDRs[reg],
options on SPDRs[reg], and options on DIA.
    CBOE now proposes to amend its marketing fee program to assess the
fee on options on the Nasdaq-100[reg] (NDXTM) Index and
options on the Russell 2000[reg] (RUT) Index. The fee would commence in
NDX and RUT options on May 1, 2006.
    CBOE states that it is not amending its marketing fee program in
any other respect.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\5\ in general, and furthers the
objectives of Section 6(b)(4) of the Act,\6\ in particular, in that it
is designed to provide for the equitable allocation of reasonable dues,
fees, and other charges among CBOE members.
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    \5\ 15 U.S.C. 78f(b).
    \6\ 15 U.S.C. 78f(b)(4).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will
impose any inappropriate 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

    No written comments were either solicited or received.

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

    The foregoing proposed rule change has been designated as a fee
change pursuant to Section 19(b)(3)(A)(ii) of the Act \7\ and Rule 19b-
4(f)(2) \8\ thereunder, because it establishes or changes a due, fee,
or other charge imposed by the Exchange. Accordingly, the proposal will
take effect upon filing with the Commission. At any time within 60 days
of the filing of such proposed rule change the Commission may summarily
abrogate 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.
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    \7\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \8\ 17 CFR 240.19b-4(f)(2).
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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 e-mail to<EMAIL_ADDRESS>Please include

File Number SR-CBOE-2006-43 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-CBOE-2006-43. This file
number should be included on the subject line if e-mail is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml
). Copies of the submission, all subsequent amendments, all

written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for inspection and
copying in the Commission's Public Reference Room. Copies of such
filing also will be available for inspection and copying at the
principal office of the CBOE. All comments received will be posted
without change; the Commission does not edit personal identifying
information from submissions. You should submit only information that
you wish to make available publicly. All submissions should refer to
File Number SR-CBOE-2006-43 and should be submitted on or before June
2, 2006.

    For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\9\
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    \9\ 17 CFR 200.30-3(a)(12).
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Nancy M. Morris,
Secretary.
[FR Doc. E6-7245 Filed 5-11-06; 8:45 am]

BILLING CODE 8010-01-P


[Federal Register Volume 86, Number 122 (Tuesday, June 29, 2021)]
[Notices]
[Pages 34290-34293]
[FR Doc No: 2021-13783]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-92238; File No. SR-BOX-2021-15]

Self-Regulatory Organizations; BOX Exchange LLC; Notice of Filing
and Immediate Effectiveness of a Proposed Rule Change To Amend the Fee
Schedule on the BOX Options Market LLC Facility

June 23, 2021.
    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 June 10, 2021, BOX Exchange LLC (``Exchange'') filed with the
Securities and Exchange Commission (``Commission'') the proposed rule
change as described in Items I, II, and III below, which Items have
been prepared by the Exchange. The Exchange filed the proposed rule
change pursuant to Section 19(b)(3)(A)(ii) of the Act,\3\ and Rule 19b-
4(f)(2) thereunder,\4\ which renders the proposal effective upon filing
with the Commission. The Commission is publishing this notice to
solicit comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \4\ 17 CFR 240.19b-4(f)(2).
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I. Self-Regulatory Organization's Statement of the Terms of the
Substance of the Proposed Rule Change

    The Exchange is filing with the Securities and Exchange Commission
(``Commission'') a proposed rule change to amend the Fee Schedule on
the BOX Options Market LLC (``BOX'') facility. 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://boxexchange.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 Exchange 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 Exchange 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 Section II (Manual Transaction Fees)
on the BOX Fee Schedule. Specifically, the Exchange proposes to amend
QOO Order Fees for Market Makers in Section II.A of the Fee Schedule.
Currently, Floor Market Makers are charged $0.25 per contract for QOO
Orders for Penny and Non-Penny Interval Classes. The Exchange proposes
to modify the rates charged for QOO Orders to $0.35 for Market Makers
in Penny and Non-Penny Interval Classes. The proposed changes are
intended to provide consistency between the Exchange's fees for manual
transactions by Floor Market Makers and those charged by other
markets.\5\ The Exchange notes that the disparity in fees between Floor
Market Makers and other Floor Participants on the BOX Trading Floor are
similar to disparities that currently exist at other trading floors in
the industry.\6\
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    \5\ See e.g., Nasdaq PHLX LLC (``Phlx'') Pricing Schedule,
available at: https://listingcenter.nasdaq.com/rulebook/phlx/rules/Phlx%20Options%207 (providing $0.35 per contract rate for manual
transactions by market makers); Cboe Exchange, Inc. (``Cboe'') Fee
Schedule, available at: https://cdn.cboe.com/resources/membership/Cboe_FeeSchedule.pdf (providing $0.35 per contract rate for manual
transactions by market makers). The Exchange notes that Cboe filed
to increase the Market Maker manual transaction fee--thereby
increasing the fee disparity between Floor Market Makers and all
other Floor Participants--in October 2020. See Securities Exchange
Act Release No. 90232 (October 20, 2020), 85 FR 67782 (SR-CBOE-2020-
097).The Exchange also notes that NYSE Arca LLC (``NYSE Arca'')
recently filed a proposed change for immediate effectiveness that
increased their manual transaction fees for Market Makers to $0.35.
In their filing, NYSE Arca stated that the purpose of the change was
to better align their fees with other markets in the industry. BOX
notes that the purpose of this filing is the same--to align its fees
with other exchanges with trading floors. See SR-NYSEArca-2021-042
available at https://www.nyse.com/publicdocs/nyse/markets/nyse-arca/rule-filings/filings/2021/SR-NYSEArca-2021-42.pdf.
    \6\ Currently, BOX Floor Brokers are charged $0.25 per contract
for manual transactions on the BOX Trading Floor. At Phlx, Cboe, and
NYSE American, Floor Brokers are charged $0.25 per contract for
manual transactions. As discussed above, Floor Market Makers at
Phlx, Cboe, and NYSE American are charged $0.35 per contract for
manual transactions. The Exchange also notes that BOX charges
Professional Customers $0.10 for manual transactions. The Exchange
believes that the disparity between the Professional Customers and
the proposed Floor Market Maker fee is reasonable as a similar
disparity currently exists at another options exchange with a
trading floor. See Cboe Fee Schedule. At Cboe, Professional
Customers are charged $0.12 for manual transactions and Floor Market
Makers are charged $0.35 for manual transactions. Lastly, BOX notes
that Public Customers are not charged for manual transactions on the
BOX Trading Floor while Floor Market Makers are charged $0.35 for
manual transactions. This is consistent with the fee disparities
currently in place at the other exchanges with physical trading
floors.
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2. Statutory Basis

    The Exchange believes that the proposal is consistent with the
requirements of Section 6(b) of the Act, in general, and Section
6(b)(4) and 6(b)(5)of the Act,\7\ in particular, in that it provides
for the equitable allocation of reasonable dues, fees, and other
charges among BOX Participants and other persons using its facilities
and does not unfairly discriminate between customers, issuers, brokers
or dealers.
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    \7\ 15 U.S.C. 78f(b)(4) and (5).
---------------------------------------------------------------------------

    The Exchange believes that the proposed rule change is designed to
bring the Exchange's fees for Market Maker manual transactions into
alignment with those charged on other markets with trading floors. The
Exchange believes it is reasonable to increase certain fees, consistent
with fees offered by competing options exchanges for similar
transactions.\8\ Further, the Exchange believes that the proposed
increased charge for manual transactions for Market Makers but not for
other market participants is reasonable because the resulting disparity
would align the Exchange's fees for manual transactions with the fees
charged on other exchanges.\9\ In addition, the Exchange believes that
other pricing incentives offered by the Exchange would continue to
encourage Market Makers to conduct manual transactions on the
Exchange.\10\ The Exchange thus believes the proposed changes, even
though they are increased fees, would not discourage Market Makers from
continuing to conduct manual transactions on the Exchange and would
continue to attract volume and liquidity to the Exchange generally and
would therefore benefit all market participants (including those that
do not participate in manual transactions) through increased
opportunities to trade.
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    \8\ See supra note 5.
    \9\ See supra note 6.
    \10\ See BOX Fee Schedule Section II.A (Strategy QOO Order Fee
Cap and Rebate). While the fee cap on Strategy transactions is
available to all Participants, the Exchange notes that Floor Market
Makers have a time and place advantage by virtue of their presence
on the Trading Floor to participate in such transactions and
therefore benefit from the fee cap.
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    Further, the Exchange believes the proposed rule change is
reasonable and equitable as the proposal is based on the type of
business transacted on the Exchange, and Market Makers can opt to
participate in manual transactions or not. Finally, to the extent the
proposed fees continue to encourage Market Makers to participate in
manual transactions on the Exchange, the Exchange believes the proposed
changes would continue to improve the Exchange's overall
competitiveness and strengthen its market quality for all market
participants. In the backdrop of the competitive environment in which
the Exchange operates, the proposed rule change is a reasonable attempt
by the Exchange to maintain its market share relative to its
competitors.
    Further, the Exchange believes the proposed change is equitable and
not unfairly discriminatory as the proposed modifications would apply
to all Floor Market Makers who execute manual transactions on an equal
and non-discriminatory basis. The Exchange also believes that
increasing fees for manual transactions by Market Makers, but not for
other market participants, is not unfairly discriminatory given that
the proposed rates (and resulting disparities) are a competitive
response to rates charged on options exchanges for manual transactions
by Market Makers and because these Participants may avail themselves of
other incentives offered by the Exchange. Further, the Exchange
believes the proposed change is reasonable, equitable, and not unfairly
discriminatory because it is consistent with the manner in which other
options exchanges with trading floors currently assess fees for Market
Maker manual transactions. As discussed above, the Exchange notes that
the disparity in fees between the Floor Market Makers and other Floor
Participants on the BOX Trading Floor are similar to disparities that
currently exist at other trading floors in the industry.\11\
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    \11\ See supra note 6.
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    The Exchange notes that it operates in a highly competitive market.
The Commission has repeatedly expressed its preference for competition
over regulatory intervention in determining prices, products, and
services in the securities markets. In Regulation NMS, the Commission
highlighted the importance of market forces in determining prices and
SRO revenues and, also, recognized that current regulation of the
market system ``has been remarkably successful in promoting market
competition in its broader forms that are most important to investors
and listed companies.'' \12\
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    \12\ See Securities Exchange Act Release No. 51808 (June 9,
2005), 70 FR 37496, 37499 (June 29, 2005) (S7-10-04) (``Reg NMS
Adopting Release'').
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    There are currently 16 registered options exchanges competing for
order flow. Based on publicly available information, and excluding
index-based

options, no single exchange has more than 16% of the market share of
executed volume of multiply-listed equity and ETF options trades.\13\
Therefore, currently no exchange possesses significant pricing power in
the execution of multiply-listed equity & ETF options order flow. More
specifically, in April 2021, the Exchange had less than 6% market share
of executed volume of multiply-listed equity and ETF options
trades.\14\
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    \13\ The OCC publishes options and futures volume in a variety
of formats, including daily and monthly volume by exchange,
available here: https://www.theocc.com/Market-Data/Market-Data-Reports/Volume-and-OpenInterest/Monthly-Weekly-Volume-Statistics.
    \14\ Based on a compilation of OCC data for monthly volume of
equity-based options and monthly volume of ETF-based options, see
id.
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    The Exchange believes that the ever-shifting market share among the
exchanges from month to month demonstrates that market participants can
shift order flow or discontinue or reduce use of certain categories of
products, in response to fee changes. Accordingly, competitive forces
constrain options exchange transaction fees. Stated otherwise, changes
to exchange transaction fees and rebates can have a direct effect on
the ability of an exchange to compete for order flow. As such, the
Exchange believes that the proposed change is reasonable, equitable,
and not unfairly discriminatory as discussed above.

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 not necessary or appropriate in
furtherance of the purposes of the Act. Instead, as discussed above,
the Exchange believes that the proposed changes would be consistent
with fees for similar transactions at other markets. As a result, the
Exchange believes that the proposed changes further the Commission's
goal in adopting Regulation NMS of fostering integrated competition
among orders, which promotes ``more efficient pricing of individual
stocks for all types of orders, large and small.'' \15\
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    \15\ See Reg NMS Adopting Release, supra note 12, at 37499.
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    The Exchange does not believe that the proposed change will impose
any burden on intramarket competition that is not necessary or
appropriate in furtherance of the purposes of the Act. Particularly,
the proposed change will apply uniformly to all Market Makers on the
BOX Trading Floor. That is, all Market Makers transacting orders on the
BOX Trading Floor will be assessed the proposed fees. The Exchange
believes that the proposed increased fees for manual transactions by
Market Makers, but not for other market participants, would not impose
any burden on intermarket competition that is not necessary or
appropriate because the proposed fees (and resulting disparities) are
consistent with fees charged for manual transactions by Market Makers
on other exchanges and because these Participants may avail themselves
to other incentives offered by the Exchange.\16\ Further, the Exchange
does not believe the proposed rule change will impose any burden on
intermarket competition that is not necessary or appropriate in
furtherance of the purposes of the Act because, as noted above,
competing options exchanges with trading floors have similar fees for
identical transactions on their respective trading floors.\17\
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    \16\ See supra notes 5, 6, and 10.
    \17\ See supra note 5.
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    Finally, the Exchange notes that it operates in a highly
competitive market in which market participants can readily favor
competing venues. In such an environment, the Exchange must continually
review, and consider adjusting, its fees and credits to remain
competitive with other exchanges. For the reasons described above, the
Exchange believes that the proposed rule change reflects this
competitive environment.

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

    No written comments were either solicited or received.

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

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Exchange Act \18\ and Rule 19b-4(f)(2)
thereunder,\19\ because it establishes or changes a due, or fee.
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    \18\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \19\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend the rule
change if it appears to the Commission that the action is necessary or
appropriate in the public interest, for the protection of investors, or
would otherwise further the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings to
determine whether the proposed rule 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-2021-15 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-2021-15. 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-2021-15, and should be submitted on
or before July 20, 2021.
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    \20\ 17 CFR 200.30-3(a)(12).

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    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\20\
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-13783 Filed 6-28-21; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 79, Number 103 (Thursday, May 29, 2014)]
[Rules and Regulations]
[Pages 30730-30732]
[FR Doc No: 2014-12381]

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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 165

[Docket Number USCG-2014-0007]
RIN 1625-AA00

Safety Zone, Atlantic Ocean; Virginia Beach, VA

AGENCY: Coast Guard, DHS.

ACTION: Temporary final rule.

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SUMMARY: The Coast Guard is establishing a temporary safety zone on the
navigable waters of the Atlantic Ocean in Virginia Beach, VA. This
safety zone will restrict vessel movement in the specified area during
the Patriotic Festival III. This action is necessary to provide for the
safety of life and property on the surrounding navigable waters during
the air show.

DATES: This rule is effective from May 30, 2014 until June 1, 2014
between the hours of 12 p.m. and 3:30 p.m. each day.

ADDRESSES: Documents mentioned in this preamble are part of docket
[USCG-2014-0007]. To view documents mentioned in this preamble as being
available in the docket, go to http://www.regulations.gov, type the
docket number in the ``SEARCH'' box and click ``SEARCH.'' Click on Open
Docket Folder on the line associated with this rulemaking. You may also
visit 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.

FOR FURTHER INFORMATION CONTACT: If you have questions on this rule,
call or email LCDR Hector Cintron, Waterways Management Division Chief,
Sector Hampton Roads, Coast Guard; telephone<PHONE_NUMBER>, email
<EMAIL_ADDRESS>If you have questions on viewing or
submitting

material to the docket, call Cheryl Collins, Program Manager, Docket
Operations, telephone<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Table of Acronyms

DHS Department of Homeland Security
FR Federal Register
NPRM Notice of Proposed Rulemaking

A. Regulatory History and Information

    The Patriotic Festival has taken place annually at the Virginia
Beach Oceanfront since 2012. On April 7, 2014, we published a notice of
proposed rulemaking (NPRM) entitled ``Safety Zone, Atlantic Ocean;
Virginia Beach, VA'' in the Federal Register (79 FR 19034). We received
no comments on the proposed rule. No public meeting was requested, and
none was held.

B. Basis and Purpose

    Whisper Concerts Entertainment, Inc. will host an air show event
over the Atlantic Ocean in Virginia Beach, VA. In recent years, there
have been unfortunate instances of jets and planes crashing during
performances at air shows. In addition, there is typically a wide area
of scattered debris that also damages property and could cause
significant injury or death to mariners observing the air show. In an
effort to protect mariners and the public transiting the Atlantic Ocean
immediately below the air show from hazards associated with the air
show, the Coast Guard is establishing a safety zone.

C. Discussion of the Final Rule

    The Coast Guard is establishing a safety zone on specified waters
of the Atlantic Ocean bounded by the following coordinates: 36[deg]-
49'-50'' N/075[deg]-58'-02'' W, 36[deg]-51'-46'' N/075[deg]-58'-33'' W,
36[deg]-51'-53'' N/075[deg]-57'-57'' W, 36[deg]-49'-57'' N/075[deg]-
57'-26'' W (NAD 1983), in the vicinity of Virginia Beach, Virginia.
This safety zone will be enforced from May 30, 2014 until June 1, 2014
between the hours of 12 p.m. and 3:30 p.m. each day. Access to the
safety zone will be restricted during the specified date and times.
    Except for vessels authorized by the Captain of the Port or his
Representative, no person or vessel may enter or remain in the safety
zone during the time frame listed. The Captain of the Port will give
notice of the enforcement of the safety zone by all appropriate means
to provide the widest dissemination of notice among the affected
segments of the public. This will include publication in the Local
Notice to Mariners and Marine Information Broadcasts.

D. Regulatory Analyses

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

1. Regulatory Planning and Review

    This rule is not a significant regulatory action under section 3(f)
of Executive Order 12866, Regulatory Planning and Review, as
supplemented by Executive Order 13563, Improving Regulation and
Regulatory Review, and does not require an assessment of potential
costs and benefits under section 6(a)(3) of Executive Order 12866 or
under section 1 of Executive Order 13563. The Office of Management and
Budget has not reviewed it under those Orders. The primary impact of
these regulations will be on vessels wishing to transit the affected
waterways during the safety zone on the Atlantic Ocean in the vicinity
of Virginia Beach, VA from 12 p.m. until 3:30 p.m. on May 30, 2014
through June 1, 2014. Although these regulations prevent traffic from
transiting a portion of the Atlantic Ocean during these events, that
restriction is limited in duration, affects only a limited area, and
will be well publicized to allow mariners to make alternative plans for
transiting the affected area.

2. Impact on Small Entities

    The Regulatory Flexibility Act of 1980 (RFA), 5 U.S.C. 601-612, as
amended, requires federal agencies to consider the potential impact of
regulations on small entities during rulemaking. 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 might
be small entities: The owners or operators of vessels intending to
transit or anchor in waters of the Atlantic Ocean during the outlined
timeframe.
    This safety zone will not have a significant economic impact on a
substantial number of small entities for the following reasons: (i) The
safety zone will only be in place for a limited duration, and (ii)
before the enforcement period, maritime advisories will be issued
allowing mariners to adjust their plans accordingly.

3. Assistance for Small Entities

    Under section 213(a) of the Small Business Regulatory Enforcement
Fairness Act of 1996 (Public Law 104-121), we want to assist small
entities in understanding this rule. If the rule would affect your
small business, organization, or governmental jurisdiction and you have
questions concerning its provisions or options for compliance, please
contact the person listed in the FOR FURTHER INFORMATION CONTACT,
above.
    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.

4. Collection of Information

    This rule will not call for a new collection of information under
the Paperwork Reduction Act of 1995 (44 U.S.C. 3501-3520).

5. Federalism

    A rule has implications for federalism under Executive Order 13132,
Federalism, if it has a substantial direct effect on the States, on the
relationship between the national government and the States, or on the
distribution of power and responsibilities among the various levels of
government. We have analyzed this rule under that Order and determined
that this rule does not have implications for federalism.

6. Protest Activities

    The Coast Guard respects the First Amendment rights of protesters.
Protesters are asked to contact the person listed in the FOR FURTHER
INFORMATION CONTACT section to coordinate protest activities so that
your message can be received without jeopardizing the safety or
security of people, places or vessels.

7. 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 (adjusted for inflation) 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.

8. Taking of Private Property

    This rule will not cause a taking of private property or otherwise
have taking implications under Executive Order 12630, Governmental
Actions and Interference with Constitutionally Protected Property
Rights.

9. Civil Justice Reform

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

10. 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.

11. 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.

12. Energy Effects

    This action is not a ``significant energy action'' under Executive
Order 13211, Actions Concerning Regulations That Significantly Affect
Energy Supply, Distribution, or Use.

13. Technical Standards

    This rule does not use technical standards. Therefore, we did not
consider the use of voluntary consensus standards.

14. Environment

    We have analyzed this rule under Department of Homeland Security
Management Directive 023-01 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 determined
that this action is one of a category of actions that do not
individually or cumulatively have a significant effect on the human
environment. This rule involves the establishment of a safety zone.
This rule is categorically excluded from further review under paragraph
34-g of Figure 2-1 of the Commandant Instruction. An environmental
analysis checklist supporting this determination and a Categorical
Exclusion Determination are available in the docket where indicated
under ADDRESSES. We seek any comments or information that may lead to
the discovery of a significant environmental impact from this rule.

List of Subjects in 33 CFR Part 165

    Harbors, Marine safety, Navigation (water), Reporting and
recordkeeping requirements, Security measures, Waterways.

    For the reasons discussed in the preamble, the Coast Guard amends
33 CFR part 165 as follows:

PART 165--REGULATED NAVIGATION AREAS AND LIMITED ACCESS AREAS

0
1. The authority citation for part 165 continues to read as follows:

    Authority: 33 U.S.C. 1231; 46 U.S.C. Chapter 701, 3306, 3703; 50
U.S.C. 191, 195; 33 CFR 1.05-1, 6.04-1, 6.04-6, 160.5; Pub. L. 107-
295, 116 Stat. 2064; Department of Homeland Security Delegation No.
0170.1.

0
2. Add Sec.  165.T05-0007 to read as follows:

Sec.  165.T05-0007  Safety Zone, Atlantic Ocean; Virginia Beach, VA.

    (a) Definitions. For the purposes of this section, Captain of the
Port means the Commander, Sector Hampton Roads. Representative means
any Coast Guard commissioned, warrant or petty officer who has been
authorized to act on the behalf of the Captain of the Port.
    (b) Location. The following area is a safety zone: Specified waters
of the Captain of the Port Sector Hampton Roads zone, as defined in 33
CFR 3.25-10, in the vicinity of the Atlantic Ocean in Virginia Beach,
VA bound by the following coordinates: 36[deg]-49'-50'' N/075[deg]-58'-
02'' W, 36[deg]-51'46'' N/075[deg]-58'-33'' W, 36[deg]-51'-53'' N/
075[deg]-57'-57'' W, 36[deg]-49'-57'' N/075[deg]-57'-26'' W (NAD 1983).
    (c) Regulations. (1) In accordance with the general regulations in
Sec.  165.23, entry into this zone is prohibited unless authorized by
the Captain of the Port, Hampton Roads or his designated
representatives.
    (2) The operator of any vessel in the immediate vicinity of this
safety zone shall:
    (i) Contact on scene contracting vessels via VHF channel 13 and 16
for passage instructions.
    (ii) If on scene proceed as directed by any commissioned, warrant
or petty officer on shore or on board a vessel that is displaying a
U.S. Coast Guard Ensign.
    (3) The Captain of the Port, Hampton Roads can be reached through
the Sector Duty Officer at Sector Hampton Roads in Portsmouth, Virginia
at telephone number<PHONE_NUMBER>.
    (4) The Coast Guard Representatives enforcing the safety zone can
be contacted on VHF-FM marine band radio channel 13 (165.65 Mhz) and
channel 16 (156.8 Mhz).
    (d) Enforcement Period. This section will be enforced from 12 p.m.
until 3:30 p.m. each day from May 30, 2014 to June 1, 2014.

    Dated: May 13, 2014.
John K. Little,
Captain, U.S. Coast Guard, Captain of the Port Hampton Roads.
[FR Doc. 2014-12381 Filed 5-28-14; 8:45 am]
BILLING CODE 9110-04-P


[Federal Register Volume 85, Number 70 (Friday, April 10, 2020)]
[Notices]
[Pages 20275-20276]
[FR Doc No: 2020-07625]

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ENVIRONMENTAL PROTECTION AGENCY

[FRL-10007-84-OECA]

Memorandum Setting Forth Enforcement Discretion Regarding Self-
Identification Requirement for Certain Manufacturers Subject to the
TSCA Fees Rule; Notice of Availability

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice of availability.

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

SUMMARY: On March 24, 2020, the Assistant Administrator of the Office
of Enforcement and Compliance Assurance signed a memorandum providing a
``no action assurance'' to three categories of manufacturers regarding
the self-identification requirement of the Toxic Substances Control Act
(TSCA) Fees Rule, consistent with planned revisions to the TSCA Fee
Rule. The three categories of manufacturers are: (1) Importers of
articles containing one of

the twenty high-priority substances; (2) producers of one of the twenty
high-priority substances as a byproduct; and (3) producers or importers
of one of the twenty high-priority substances as an impurity. The
Office of Enforcement and Compliance Assurance is hereby providing
public notice of this memorandum which can be found at https://www.epa.gov/sites/production/files/2020-03/documents/no_action_assurance_regarding_self-identification_requirement_for_certain_manufacturers_subject_to_the_tsca_fees_rule_march_24_2020.pdf.pdf.

DATES: The memorandum is in effect from March 24, 2020 until either (1)
11:59 p.m. ET, September 30, 2021, or (2) the effective date of a final
rule addressing the proposed exemptions to manufacture definition of
the TSCA Fees Rule, whichever occurs earlier.

FOR FURTHER INFORMATION CONTACT: Philip Milton, Waste and Chemical
Enforcement Division (2249-A), Environmental Protection Agency, 1200
Pennsylvania Avenue NW, Washington, DC 20460; telephone: (202) 564-
5029; fax:<PHONE_NUMBER>; email<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: More information can be found at https://www.epa.gov/tsca-fees/information-plan-reduce-tsca-fees-burden-and-no-action-assurance.

    Dated: April 7, 2020.
Gregory Sullivan,
Director, Waste and Chemical Enforcement Division, Office of
Enforcement and Compliance Assurance.
[FR Doc. 2020-07625 Filed 4-9-20; 8:45 am]
 BILLING CODE 6560-50-P