[Federal Register Volume 81, Number 67 (Thursday, April 7, 2016)]
[Notices]
[Pages 20428-20432]
[FR Doc No: 2016-07938]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-77499; File No. SR-BATS-2016-04]

Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of
Filing of Amendment No. 2, and Order Granting Accelerated Approval of a
Proposed Rule Change, as Modified by Amendment No. 2, To List and Trade
Shares of the SPDR DoubleLine Short Duration Total Return Tactical ETF
of the SSgA Active Trust

April 1, 2016.

I. Introduction

    On February 4, 2016, BATS Exchange, Inc. (``BATS'' or ``Exchange'')
filed with the Securities and Exchange Commission (``Commission''),
pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'' or ``Exchange Act'') \1\ and Rule 19b-4 thereunder,\2\ a
proposed rule change to list and trade shares (``Shares'') of the SPDR
DoubleLine Short Duration Total Return Tactical ETF (``Fund'') of the
SSgA Active Trust (``Trust'') pursuant to BATS Rule 14.11(i). A notice
of the proposed rule change was published in the Federal Register on
February 12, 2016.\3\ On March 8, 2016, the Exchange filed Amendment
No. 1 to the proposed rule change. On March 24, 2016, the Exchange
withdrew Amendment No. 1 and filed Amendment No. 2 to the proposed rule
change.\4\ On March 25, 2016, pursuant to Section 19(b)(2) of the
Act,\5\ the Commission designated a longer period within which to
approve the proposed rule change, disapprove the proposed rule change,
or institute proceedings to determine whether to disapprove the
proposed rule change.\6\ The Commission received no comments on the
proposal. The Commission is publishing this notice to solicit comments
on Amendment No. 2 from interested persons, and is approving the
proposed rule change, as modified by Amendment No. 2, on an accelerated
basis.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 77078 (February 8,
2016), 81 FR 7599.
    \4\ In Amendment No. 2, which replaced the original filing in
its entirety, the Exchange: (1) Modified the name of the Fund by
replacing the word ``Term'' with ``Duration;'' (2) clarified that,
under normal circumstances, at least 80% of the Fund's net assets
(plus the amount of borrowings for investment purposes) will be
invested in its principal holdings; (3) stated that the Fund may
invest up to 20% of its portfolio in securities issued or guaranteed
by state or local governments or their agencies or
instrumentalities; (4) clarified which assets held by the Fund would
trade on markets that are members of the Intermarket Surveillance
Group or that have entered into a comprehensive surveillance
agreement with the Exchange; (5) clarified the application of the
investment restrictions to derivatives and restricted securities;
(6) described how fixed income instruments, including municipal
securities, would be valued for purposes of calculating the net
asset value of the Fund; (7) clarified that all statements and
representations made in the filing regarding the description of the
portfolio, limitations on portfolio holdings or reference assets, or
the applicability of Exchange rules and surveillance procedures
constitute continued listing requirements for listing the Shares on
the Exchange; (8) stated that the issuer has represented to the
Exchange that it will advise the Exchange of any failure by the Fund
to comply with the continued listing requirements, and, pursuant to
its obligations under Section 19(g)(1) of the Act, the Exchange will
surveil for compliance with the continued listing requirements, and
if the Fund is not in compliance with the applicable listing
requirements, the Exchange will commence delisting procedures under
Exchange Rule 14.12; and (9) made other technical amendments.
Amendment No. 2 is available at: http://www.sec.gov/comments/sr-bats-2016-04/bats201604.shtml.
    \5\ 15 U.S.C. 78s(b)(2).
    \6\ See Securities Exchange Act Release No. 77451, 81 FR 18660
(March 31, 2016).
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II. The Exchange's Description of the Proposal

    The Exchange proposes to list and trade the Shares under BATS Rule
14.11(i), which governs the listing and

trading of Managed Fund Shares on the Exchange. The Shares will be
offered by the Trust, which is registered with the Commission as an
investment company.\7\ The investment adviser to the Fund will be SSGA
Funds Management, Inc. (``Adviser''), and the sub-adviser to the Fund
will be DoubleLine Capital LP (``Sub-Adviser'').\8\ The Adviser will
serve as the Fund's administrator. State Street Global Markets, LLC
will be the principal underwriter and distributor of the Fund's Shares.
State Street Bank and Trust Company will serve as the sub-
administrator, custodian, transfer agent, and, where applicable,
lending agent for the Fund.
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    \7\ The Trust is registered under the Investment Company Act of
1940 (``1940 Act''). See Registration Statement on Form N-1A for the
Trust, dated October 8, 2015 (File Nos. 333-173276 and 811-22542)
(``Registration Statement''). In addition, the Exchange states that
the Commission has issued an order granting certain exemptive relief
to the Trust under the 1940 Act. See Investment Company Act Release
No. 29524 (December 13, 2010) (File No. 812-13487).
    \8\ The Adviser and Sub-Adviser are not registered as broker-
dealers, but the Adviser is affiliated with a broker-dealer and has
implemented a fire wall with respect to its broker-dealer affiliate
regarding access to information concerning the composition of or
changes to the portfolio. In the event (a) the Adviser or Sub-
Adviser become registered broker-dealers or newly affiliated with a
broker-dealer, or (b) any new adviser or sub-adviser is a registered
broker-dealer or becomes affiliated with a broker-dealer, it will
implement a fire wall with respect to its relevant personnel or its
broker-dealer affiliate regarding access to information concerning
the composition of or changes to the portfolio, and it will be
subject to procedures designed to prevent the use and dissemination
of material non-public information regarding such portfolio.
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    The investment objective of the Fund is to seek to maximize current
income with a dollar-weighted average effective duration between one
and three years. To achieve its objective, the Fund will invest, under
normal circumstances,\9\ in a diversified portfolio of fixed income
securities of any credit quality, subject to certain limitations set
forth below.
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    \9\ The term ``under normal circumstances'' includes, but is not
limited to, the absence of extreme volatility or trading halts in
the fixed income markets or the financial markets generally;
operational issues causing dissemination of inaccurate market
information; or force majeure type events such as systems failure,
natural or man-made disaster, act of God, armed conflict, act of
terrorism, riot or labor disruption or any similar intervening
circumstance.
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A. The Fund's Principal Investments

    The Fund intends to achieve its investment objective by investing,
under normal circumstances, at least 80% of its net assets (plus the
amount of borrowings for investment purposes) in a diversified
portfolio of Fixed Income Securities, which are defined as the
following instruments: Securities issued or guaranteed by the U.S.
government or its agencies, instrumentalities or sponsored
corporations; inflation protected public obligations of the U.S.
Treasury; securities issued or guaranteed by state or local governments
or their agencies or instrumentalities; \10\ asset-backed securities
(``ABS''), which include the following: Agency and non-agency
residential mortgage-backed securities, agency and non-agency
commercial mortgage-backed securities, and any other agency and non-
agency asset-backed securities, collateralized debt obligations,
collateralized loan obligations, collateralized bond obligations,
collateralized mortgage obligations, Real Estate Mortgage Investment
Conduits (``REMICs''), and REMICs that have been resecuritized; \11\
stripped securities; zero coupon securities; foreign (including
emerging markets) and domestic corporate bonds;\12\ sovereign debt;
bank loans; \13\ preferred securities; and exchange traded products
(``ETPs'') that invest in Fixed Income Securities.\14\ To the extent
applicable, debt instruments that comprise Fixed Income Securities may
be either fixed rate securities, floating securities, or variable rate
securities.
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    \10\ No more 20% of the Fund's net assets will be invested in
securities issued or guaranteed by state or local governments or
their agencies or instrumentalities. See Amendment No. 2, supra note
4.
    \11\ The Fund intends to invest at least 25% of its net assets
in mortgage-backed securities of any maturity or type guaranteed by,
or secured by collateral that is guaranteed by, the United States
Government, its agencies, instrumentalities or sponsored
corporations. The Fund may invest up to 20% of its net assets in the
aggregate in non-agency ABS.
    \12\ The Sub-Adviser expects that, under normal circumstances,
the Fund will generally seek to invest in corporate bond issuances
that have at least $100,000,000 par amount outstanding in developed
countries and at least $200,000,000 par amount outstanding in
emerging market countries. Corporate bonds that in the aggregate
account for at least 75% of the weight of the Fund's corporate bonds
will have a minimum original principal outstanding of $100 million
or more.
    \13\ No more 20% of the Fund's net assets will be invested in
junior bank loans.
    \14\ For purposes of this filing, ETPs include those securities
described in BATS Rule 14.11, and all ETPs held by the Fund will be
listed and traded in the U.S. on national securities exchanges.
While the Fund may invest in inverse ETPs, the Fund will not invest
in leveraged or inverse leveraged ETPs. The Fund may invest up to
20% of its net assets in one or more ETPs that are qualified
publicly traded partnerships and whose principal activities are the
buying and selling of commodities or options, futures, or forwards
with respect to commodities.
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B. The Fund's Non-Principal Investments

    While the Adviser and Sub-Adviser, under normal circumstances, will
invest at least 80% of the Fund's net assets (plus the amount of any
borrowings for investment purposes) in the instruments described above,
the Adviser and Sub-Adviser may invest up to 20% of the Fund's net
assets in other securities and financial instruments, as described
below.
    The Fund may invest in repurchase agreements with commercial banks,
brokers or dealers to generate income from its excess cash balances and
to invest securities lending cash collateral. The Fund may also enter
into reverse repurchase agreements.\15\
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    \15\ The Fund's exposure to reverse repurchase agreements will
be covered by securities having a value equal to or greater than
such commitments. The Fund does not expect to engage, under normal
circumstances, in reverse repurchase agreements with respect to more
than 10% of its net assets.
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    The Fund may invest in exchange-traded \16\ and over-the-counter
(``OTC'') U.S. common stocks, exchange-traded common stocks of foreign
corporations,\17\ and unsponsored ADRs.
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    \16\ All exchange-traded equity securities in which the Fund may
invest will trade on markets that are members of the Intermarket
Surveillance Group (``ISG'') or that have entered into a
comprehensive surveillance agreement with the Exchange.
    \17\ The Fund's investments in common stocks of foreign
corporations may also be in the form of American Depositary Receipts
(``ADRs''), Global Depositary Receipts, and European Depositary
Receipts (collectively ``Depositary Receipts''). The Fund may invest
in sponsored or unsponsored ADRs; however, not more than 10% of the
net assets of the Fund will be invested in unsponsored ADRs.
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    The Fund may invest in convertible securities.
    The Fund may lend its portfolio securities in an amount not to
exceed 33\1/3\% of the value of its total assets via a securities
lending program.\18\
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    \18\ A securities lending program allows the Fund to receive a
portion of the income generated by lending its securities and
investing the respective collateral. The Fund will receive
collateral for each loaned security which is at least equal to 102%
of the market value of that security, marked to market each trading
day.
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    In addition to repurchase agreements, the Fund may invest in short-
term instruments, including money market instruments, cash, and cash
equivalents, on an ongoing basis to provide liquidity or for other
reasons.\19\
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    \19\ Money market instruments are generally short-term
investments that may include but are not limited to: (1) Shares of
money market funds; (2) obligations issued or guaranteed by the U.S.
government, its agencies or instrumentalities (including government-
sponsored enterprises); (3) negotiable certificates of deposit,
bankers' acceptances, fixed time deposits, and other obligations of
U.S. and foreign banks (including foreign branches) and similar
institutions; (4) commercial paper rated at the date of purchase
``Prime-1'' by Moody's or ``A-1'' by S&P, or if unrated, of
comparable quality as determined by the Adviser; (5) non-convertible
corporate debt securities with remaining maturities at the date of
purchase of not more than 397 days and that satisfy the rating
requirements set forth in Rule 2a-7 under the 1940 Act; and (6)
short-term U.S. dollar-denominated obligations of foreign banks
(including U.S. branches) that, in the opinion of the Adviser, are
of comparable quality to obligations of U.S. banks which may be
purchased by the Fund.

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    The Fund may conduct foreign currency transactions on a spot or
forward basis.
    The Fund may invest in inverse floating rate debt instruments.
    In addition to ETPs that invest in Fixed Income Securities, the
Fund may also invest in the securities of non-exchange traded
investment companies, including affiliated funds and money market
funds, subject to applicable limitations under Section 12(d)(1) of the
1940 Act.
    The Fund may invest in the securities of real estate investment
trusts.
    The Fund may invest up to 20% of its assets in the following
derivatives: Exchange-traded futures on Treasuries or Eurodollars; U.S.
exchange-traded or OTC put and call options contracts, and OTC or
exchange-traded swap agreements on Fixed Income Securities and/or
derivatives on indices based on Fixed Income Securities (including
interest rate swaps, total return swaps, excess return swaps, and
credit default swaps).\20\
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    \20\ This 20% limit on derivatives will be calculated according
to the total absolute notional value of the Fund's derivatives.
Additionally, to the extent that the derivatives held by the Fund
overlie any of the assets subject to limitations described in the
proposed rule change, such derivatives will be counted toward those
limitations.
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    The Fund may also invest in Restricted Securities.\21\
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    \21\ ``Restricted Securities,'' for purposes of this filing, are
defined as Rule 144A securities. To the extent that the Fund's
holding of Restricted Securities include any of the assets subject
to limitations described in the proposed rule change, such holdings
will be subject to those limitations.
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C. The Fund's Investment Restrictions

    The Fund may hold up to an aggregate amount of 15% of its net
assets in illiquid assets (calculated at the time of investment),
including Restricted Securities deemed illiquid by the Adviser or Sub-
Adviser \22\ under the 1940 Act. The Fund will monitor its portfolio
liquidity on an ongoing basis to determine whether, in light of current
circumstances, an adequate level of liquidity is being maintained, and
will consider taking appropriate steps in order to maintain adequate
liquidity if, through a change in values, net assets, or other
circumstances, more than 15% of the Fund's net assets are invested in
illiquid assets. Illiquid assets include securities subject to
contractual or other restrictions on resale and other instruments that
lack readily available markets as determined in accordance with
Commission staff guidance.
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    \22\ In reaching liquidity decisions, the Adviser and Sub-
Adviser may consider factors including: The frequency of trades and
quotes for the security; the number of dealers wishing to purchase
or sell the security and the number of other potential purchasers;
dealer undertakings to make a market in the security; and the nature
of the security and the nature of the marketplace in which it trades
(e.g., the time needed to dispose of the security, the method of
soliciting offers, and the mechanics of transfer).
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    The Fund intends to qualify each year as a regulated investment
company under the Internal Revenue Code.
    The Fund's investments will be consistent with its investment
objective and will not be used to seek to achieve leveraged or inverse
leveraged returns.
    Under normal circumstances, the combined total of corporate,
sovereign, non-agency, and all other debt rated below investment grade
will not exceed 40% of the Fund's net assets.
    The Fund may invest up to 15% of its net assets in securities
denominated in foreign currencies, and may invest beyond this limit in
U.S. dollar-denominated securities of foreign issuers. The Fund may
invest up to 20% of its net assets in securities and instruments that
are economically tied to emerging market countries.

III. Discussion and Commission Findings

    After careful review, the Commission finds that the Exchange's
proposal to list and trade the Shares is consistent with the Exchange
Act and the rules and regulations thereunder applicable to a national
securities exchange.\23\ In particular, the Commission finds that the
proposed rule change, as modified by Amendment No. 2, is consistent
with Section 6(b)(5) of the Exchange Act,\24\ which requires, among
other things, that the Exchange's rules be designed to promote just and
equitable principles of trade, to remove impediments to and perfect the
mechanism of a free and open market and a national market system, and,
in general, to protect investors and the public interest.
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    \23\ In approving this proposed rule change, the Commission has
considered the proposed rule's impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
    \24\ 15 U.S.C. 78f(b)(5).
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    The Commission also finds that the proposal is consistent with
Section 11A(a)(1)(C)(iii) of the Exchange Act,\25\ which sets forth
Congress's finding that it is in the public interest and appropriate
for the protection of investors and the maintenance of fair and orderly
markets to assure the availability to brokers, dealers, and investors
of information with respect to quotations for and transactions in
securities.
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    \25\ 15 U.S.C. 78k-1(a)(1)(C)(iii).
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    Quotation and last-sale information for the Shares will be
available on the facilities of the Consolidated Tape Association
(``CTA''). With respect to the Fund, an estimated value, defined in
BATS Rule 14.11(i)(3)(C) as the ``Intraday Indicative Value,'' which
reflects an estimated intraday value of the Fund's portfolio, will be
based upon the current value for the components of the Disclosed
Portfolio \26\ and will be updated and widely disseminated by one or
more major market data vendors at least every 15 seconds during the
Exchange's Regular Trading Hours.\27\ On each business day, before
commencement of trading in Shares during Regular Trading Hours, the
Fund will disclose on its Web site the Disclosed Portfolio that will
form the basis for the Fund's calculation of the net asset value
(``NAV'') at the end of the business day.\28\ The Fund's Web site will
also include a form of the prospectus for the Fund and additional data
relating to NAV and other applicable quantitative information.
Information regarding market price and volume of the Shares will be
continually available on a real-time basis throughout the day on
brokers' computer screens and other electronic services. The previous
day's closing price and trading volume information for the Shares will
be published daily in the financial section of newspapers. The intra-
day, closing, and settlement prices of exchange-listed instruments
(including exchange-traded Depositary Receipts, preferred securities,
convertible securities, common stock, futures, ETPs, and QPTPs) will be
readily available from the exchanges trading such instruments as well
as automated quotation systems, published or other public sources, or
online information services such as Bloomberg or Reuters.

Price information regarding U.S. exchange-listed equities will also be
available on the facilities of the CTA. Intraday and closing price
information for exchange-traded options and futures will be available
from the applicable exchange and from major market data vendors. In
addition, price information for U.S. exchange-traded options will be
available from the Options Price Reporting Authority. Quotation
information from brokers and dealers or pricing services will be
available for Fixed Income Securities. Price information regarding spot
currency transactions and OTC-traded derivative instruments, including
options, swaps, and forward currency transactions, as well as equity
securities traded in the OTC market, including Restricted Securities,
inverse floaters, short-term instruments, OTC-traded preferred
securities, OTC-traded ADRs, and OTC-traded convertible securities, is
available from major market data vendors. Price information for
repurchase and reverse repurchase agreements will generally be
available through nationally recognized data service providers through
subscription arrangements.
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    \26\ The term ``Disclosed Portfolio'' is defined in BATS Rule
14.11(i)(3)(B). The Disclosed Portfolio will include, as applicable:
Ticker symbol; CUSIP number or other identifier, if any; a
description of the holding (including the type of holding); the
identity of the security, commodity, index, or other asset or
instrument underlying the holding, if any; for options, the option
strike price; quantity held (as measured by, for example, par value,
notional value, or number of shares, contracts, or units); maturity
date, if any; coupon rate, if any; effective date, if any; market
value of the holding; and the percentage weighting of the holding in
the Fund's portfolio. The Web site information will be publicly
available at no charge.
    \27\ According to the Exchange, several major market data
vendors display and/or make widely available Intraday Indicative
Values published via the CTA or other data feeds.
    \28\ The NAV of the Shares generally will be calculated once
daily Monday through Friday as of the close of regular trading on
the Exchange, generally 4:00 p.m. Eastern Time (``NAV Calculation
Time'') on each day that the Exchange is open for trading, based on
prices at the NAV Calculation Time.
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    The Commission further believes that the proposal to list and trade
the Shares is reasonably designed to promote fair disclosure of
information that may be necessary to price the Shares appropriately and
to prevent trading when a reasonable degree of transparency cannot be
assured. The Exchange will obtain a representation from the issuer of
the Shares that the NAV per Share will be calculated daily and that the
NAV and the Disclosed Portfolio will be made available to all market
participants at the same time. The Exchange will halt trading in the
Shares under the conditions specified in BATS Rule 11.18. Trading may
be halted because of market conditions or for reasons that, in the view
of the Exchange, make trading in the Shares inadvisable.\29\ Trading in
the Shares also will be subject to BATS Rule 14.11(i)(4)(B)(iv), which
sets forth circumstances under which Shares of the Fund may be halted.
The Exchange states it prohibits the distribution of material non-
public information by its employees. The Adviser and Sub-Adviser are
not registered as broker-dealers, but the Adviser is affiliated with a
broker-dealer and has implemented a fire wall with respect to its
broker-dealer affiliate regarding access to information concerning the
composition of or changes to the portfolio.\30\
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    \29\ These may include: (1) The extent to which trading is not
occurring in the securities and/or the financial instruments
composing the Disclosed Portfolio of the Fund; or (2) whether other
unusual conditions or circumstances detrimental to the maintenance
of a fair and orderly market are present.
    \30\ See supra note 8. The Exchange represents that an
investment adviser to an open-end fund is required to be registered
under the Investment Advisers Act of 1940.
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    Prior to the commencement of trading, the Exchange will inform its
members in an Information Circular of the special characteristics and
risks associated with trading the Shares. The Exchange represents that
trading in the Shares will be subject to the Exchange's surveillance
procedures, which are adequate to properly monitor the trading of the
Shares on the Exchange during all trading sessions and to deter and
detect violations of Exchange rules and the applicable federal
securities laws.
    The Exchange represents that it deems the Shares to be equity
securities, thus rendering trading in the Shares subject to the
Exchange's existing rules governing the trading of equity securities.
In support of this proposal, the Exchange has made the following
representations:
    (1) The Shares will be subject to BATS Rule 14.11(i), which sets
forth the initial and continued listing criteria applicable to Managed
Fund Shares.
    (2) The Exchange has appropriate rules to facilitate transactions
in the Shares during all trading sessions.
    (3) The Exchange believes that its surveillance procedures are
adequate to properly monitor the trading of the Shares on the Exchange
during all trading sessions and to deter and detect violations of
Exchange rules and the applicable federal securities laws. Trading of
the Shares through the Exchange will be subject to the Exchange's
surveillance procedures for derivative products, including Managed Fund
Shares.
    (4) The Exchange may obtain information regarding trading in the
Shares and the underlying exchange traded investment companies, equity
securities, futures, and options via the ISG, from other exchanges who
are members or affiliates of the ISG, or with which the Exchange has
entered into a comprehensive surveillance sharing agreement. In
addition, the Exchange is able to access, as needed, trade information
for certain fixed income instruments reported to FINRA's Trade
Reporting and Compliance Engine. The Exchange can also access municipal
bond trading activity for surveillance purposes in connection with
trading in the Shares through the Municipal Securities Rulemaking
Board's Electronic Municipal Market Access.
    (5) All of the exchange-listed assets will trade on markets that
are a member of ISG or with which the Exchange has in place a
comprehensive surveillance sharing agreement.
    (6) Prior to the commencement of trading, the Exchange will inform
its members in an Information Circular of the special characteristics
and risks associated with trading the Shares. Specifically, the
Information Circular will discuss the following: (i) The procedures for
purchases and redemptions of Shares in Creation Units (and that Shares
are not individually redeemable); (ii) BATS Rule 3.7, which imposes
suitability obligations on Exchange members with respect to
recommending transactions in the Shares to customers; (iii) how
information regarding the Intraday Indicative Value and the Disclosed
Portfolio is disseminated; (iv) the risks involved in trading the
Shares during the Pre-Opening and After Hours Trading Sessions when an
updated Intraday Indicative Value will not be calculated or publicly
disseminated; (v) the requirement that members deliver a prospectus to
investors purchasing newly issued Shares prior to or concurrently with
the confirmation of a transaction; and (vi) trading information.
    (7) For initial and continued listing, the Fund must be in
compliance with Rule 10A-3 under the Act.\31\
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    \31\ 17 CFR 240.10A-3.
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    (8) The Fund will not invest more than 20% of its net assets in the
aggregate in non-agency ABS.
    (9) Under normal circumstances, the Fund will generally seek to
invest in corporate bond issuances that have at least $100,000,000 par
amount outstanding in developed countries and at least $200,000,000 par
amount outstanding in emerging market countries. Corporate bonds that
in the aggregate account for at least 75% of the weight of the Fund's
corporate bonds will have a minimum original principal outstanding of
$100 million or more.
    (10) Under normal circumstances, the combined total of corporate,
sovereign, non-agency, and all other debt rated below investment grade
will not exceed 40% of the Fund's net assets.
    (11) The Fund will not invest more than 15% of its net assets in
securities denominated in foreign currencies, and will not invest more
than 20% of its net assets in securities and instruments that are
economically tied to emerging market countries.

    (12) No more 20% of the Fund's net assets will be invested in
junior bank loans.
    (13) While the Fund may invest in inverse ETPs, the Fund will not
invest in leveraged or inverse leveraged ETPs.
    (14) A minimum of 100,000 Shares for the Fund will be outstanding
at the commencement of trading on the Exchange.

The Exchange represents that all statements and representations made in
the filing regarding (a) the description of the portfolio, (b)
limitations on portfolio holdings or reference assets, or (c) the
applicability of Exchange rules and surveillance procedures constitute
continued listing requirements for listing the Shares on the Exchange.
In addition, the issuer has represented to the Exchange that it will
advise the Exchange of any failure by the Fund to comply with the
continued listing requirements, and, pursuant to its obligations under
Section 19(g)(1) of the Act, the Exchange will surveil for compliance
with the continued listing requirements. If a Fund is not in compliance
with the applicable listing requirements, the Exchange will commence
delisting procedures under BATS Rule 14.12.
    This approval order is based on all of the Exchange's
representations, including those set forth above and in Amendment No.
2. The Commission notes that the Fund and the Shares must comply with
the requirements of BATS Rule 14.11(i) to be initially and continuously
listed and traded on the Exchange.
    For the foregoing reasons, the Commission finds that the proposed
rule change, as modified by Amendment No. 2, is consistent with Section
6(b)(5) of the Exchange Act \32\ and Section 11A(a)(1)(C)(iii) of the
Exchange Act \33\ and the rules and regulations thereunder applicable
to a national securities exchange.
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    \32\ 15 U.S.C. 78f(b)(5).
    \33\ 15 U.S.C. 78k-1(a)(1)(C)(iii).
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IV. Solicitation of Comments on Amendment No. 2

    Interested persons are invited to submit written data, views, and
arguments concerning whether Amendment No. 2 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 No. SR-BATS-2016-04 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 No. SR-BATS-2016-04. 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 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 Web site 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; 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 No. SR-BATS-2016-04, and should be
submitted on or before April 28, 2016.

V. Accelerated Approval of the Proposed Rule Change, as Modified by
Amendment No. 2

    The Commission finds good cause to approve the proposed rule
change, as modified by Amendment No. 2, prior to the thirtieth day
after the date of publication of Amendment No. 2 in the Federal
Register. The additional information in Amendments No. 2 helped the
Commission to evaluate the Shares' susceptibility to manipulation and
the Exchange's ability to investigate possible manipulative activity.
Amendment No. 2 also provided clarifications and additional details to
the proposed rule change. Accordingly, the Commission finds good cause
for approving the proposed rule change, as modified by Amendment No. 2,
on an accelerated basis, pursuant to Section 19(b)(2) of the Act.\34\
---------------------------------------------------------------------------

    \34\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

VI. Conclusion

    It Is Therefore Ordered, pursuant to Section 19(b)(2) of the
Exchange Act,\35\ that the proposed rule change (SR-BATS-2016-04), as
modified by Amendment No. 2, be, and it hereby is, approved on an
accelerated basis.
---------------------------------------------------------------------------

    \35\ 15 U.S.C. 78s(b)(2).
    \36\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\36\
Brent J. Fields,
Secretary.
[FR Doc. 2016-07938 Filed 4-6-16; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 77, Number 131 (Monday, July 9, 2012)]
[Notices]
[Pages 40350-40351]
[FR Doc No: 2012-16687]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings

    Take notice that the Commission has received the following Natural
Gas Pipeline Rate and Refund Report filings:

Filings Instituting Proceedings

    Docket Numbers: RP12-820-000.
    Applicants: Texas Gas Transmission, LLC.
    Description: Demand Charge Credits filing to be effective 8/1/2012.
    Filed Date: 6/27/12.
    Accession Number: 20120627-5033.
    Comments Due: 5 p.m. ET 7/9/12.

    Docket Numbers: RP12-822-000.
    Applicants: Gulf South Pipeline Company, LP.
    Description: Tenaska 39395-3 Amendment to Neg Rate Agmt to be
effective 7/1/2012.
    Filed Date: 6/28/12.
    Accession Number: 20120628-5032.
    Comments Due: 5 p.m. ET 7/10/12.

    Docket Numbers: RP12-823-000.
    Applicants: Gulf South Pipeline Company, LP.
    Description: Tenaska 39396-3 Amendment to Neg Rate Agmt to be
effective 7/1/2012.
    Filed Date: 6/28/12.
    Accession Number: 20120628-5033.
    Comments Due: 5 p.m. ET 7/10/12.

    Docket Numbers: RP12-824-000.
    Applicants: Gulf South Pipeline Company, LP.
    Description: Devon 34694-36 Amendment to Neg Rate Agmt to be
effective 7/1/2012.
    Filed Date: 6/28/12.
    Accession Number: 20120628-5034.
    Comments Due: 5 p.m. ET 7/10/12.

    Docket Numbers: RP12-825-000.
    Applicants: Gulf South Pipeline Company, LP.
    Description: HK 37731 to Sequent 39986 Cap Rel Neg Rate Agmt filing
to be effective 7/1/2012.
    Filed Date: 6/28/12.
    Accession Number: 20120628-5042.
    Comments Due: 5 p.m. ET 7/10/12.

    Docket Numbers: RP12-826-000.
    Applicants: Gulf South Pipeline Company, LP.
    Description: HK 37733 to Texla 39987 Cap Rel Neg Rate Agmt filing
to be effective 7/1/2012.
    Filed Date: 6/28/12.
    Accession Number: 20120628-5043.
    Comments Due: 5 p.m. ET 7/10/12.

    Docket Numbers: RP12-827-000.
    Applicants: Algonquin Gas Transmission, LLC.
    Description: Non-conforming Agreements Cleanup Filing--June 2012 to
be effective 8/1/2012.
    Filed Date: 6/28/12.
    Accession Number: 20120628-5044.
    Comments Due: 5 p.m. ET 7/10/12.

    Docket Numbers: RP12-828-000.
    Applicants: Gulf South Pipeline Company, LP.
    Description: HK 37731 to Texla 39988 Cap Rel Neg Rate Agmt filing
to be effective 7/1/2012.
    Filed Date: 6/28/12.
    Accession Number: 20120628-5045.
    Comments Due: 5 p.m. ET 7/10/12.

    Docket Numbers: RP12-829-000.
    Applicants: Gulf South Pipeline Company, LP.
    Description: HK 37731 to Texla 39989 Cap Rel Neg Rate Agmt filing
to be effective 7/1/2012.
    Filed Date: 6/28/12.
    Accession Number: 20120628-5046.
    Comments Due: 5 p.m. ET 7/10/12.

    Docket Numbers: RP12-830-000.
    Applicants: Dominion South Pipeline Company, LP.
    Description: DSP--2012 Report of Penalty Revenues.
    Filed Date: 6/29/12.
    Accession Number: 20120629-5031.
    Comments Due: 5 p.m. ET 7/11/12.

    Docket Numbers: RP12-831-000.
    Applicants: Texas Eastern Transmission, LP.
    Description: EPC AUG 2012 FILING to be effective 8/1/2012.
    Filed Date: 6/29/12.
    Accession Number: 20120629-5033.
    Comments Due: 5 p.m. ET 7/11/12.

    Docket Numbers: RP12-832-000.
    Applicants: ANR Pipeline Company.
    Description: ANR Pipeline Company submits tariff filing per
154.601: Twin Eagle Neg Rate to be effective 7/1/2012.
    Filed Date: 6/29/12.
    Accession Number: 20120629-5035.
    Comments Due: 5 p.m. ET 7/11/12.

    Docket Numbers: RP12-833-000.
    Applicants: NGO Transmission, Inc.
    Description: NGO Transmission--Filing to Update Contact Information
to be effective 8/1/2012.
    Filed Date: 6/29/12.
    Accession Number: 20120629-5037.
    Comments Due: 5 p.m. ET 7/11/12.

    Docket Numbers: RP12-834-000.
    Applicants: Northern Natural Gas Company.
    Description: 20120629 Mieco Inc Negotiated Rate to be effective 7/
1/2012.
    Filed Date: 6/29/12.
    Accession Number: 20120629-5038.
    Comments Due: 5 p.m. ET 7/11/12.

    Docket Numbers: RP12-835-000.
    Applicants: Equitrans, L.P.
    Description: CP11-68 Sunrise Compliance Filing--Negotiated Rate
Agreements to be effective 8/1/2012.
    Filed Date: 6/29/12.
    Accession Number: 20120629-5043.
    Comments Due: 5 p.m. ET 7/11/12.

    Docket Numbers: RP12-836-000.
    Applicants: MarkWest Pioneer, L.L.C.
    Description: MarkWest Pioneer--Update to Preliminary Statement and
System Map to be effective 8/1/2012.
    Filed Date: 6/29/12.
    Accession Number: 20120629-5048.

    Comments Due: 5 p.m. ET 7/11/12.

    Docket Numbers: RP12-837-000.
    Applicants: Big Sandy Pipeline, LLC.
    Description: Big Sandy EPC 2012 to be effective 8/1/2012 .
    Filed Date: 6/29/12.
    Accession Number: 20120629-5056.
    Comments Due: 5 p.m. ET 7/11/12.

    Docket Numbers: RP12-838-000.
    Applicants: Granite State Gas Transmission, Inc.
    Description: Granite State Gas Transmission, Inc. Section 4 Rate
Filing to be effective 8/1/2012.
    Filed Date: 6/29/12.
    Accession Number: 20120629-5057.
    Comments Due: 5 p.m. ET 7/11/12.

    Docket Numbers: RP12-838-000.
    Applicants: Granite State Gas Transmission, Inc.
    Description: Supplement filing to support proposed tariff filing
made on 6/29/12 by Granite State Gas Transmission, Inc.
    Filed Date: 6/29/12.
    Accession Number: 20120629-5227.
    Comments Due: 5 p.m. ET 7/11/12.

    Docket Numbers: RP12-839-000.
    Applicants: Gulf South Pipeline Company, LP.
    Description: EOG 34687-9 Amendment to Neg Rate Agmt filing to be
effective 7/1/2012.
    Filed Date: 6/29/12.
    Accession Number: 20120629-5066.
    Comments Due: 5 p.m. ET 7/11/12.

    Docket Numbers: RP12-840-000.
    Applicants: Ruby Pipeline, L.L.C.
    Description: EPC and Fuel Rate Adjustment Filing 6/28/12 to be
effective 7/1/2012.
    Filed Date: 6/29/12
    Accession Number: 20120629-5115.
    Comments Due: 5 p.m. ET 7/11/12.

    Docket Numbers: RP12-842-000.
    Applicants: Northwest Pipeline GP.
    Description: RP12-Non-Conforming Changes, Effective August 1, 2012
to be effective 8/1/2012.
    Filed Date: 6/29/12.
    Accession Number: 20120629-5164.
    Comments Due: 5 p.m. ET 7/11/12.

    Docket Numbers: RP12-843-000.
    Applicants: Columbia Gulf Transmission Company.
    Description: Gas Processing to be effective 8/1/2012.
    Filed Date: 6/29/12.
    Accession Number: 20120629-5196.
    Comments Due: 5 p.m. ET 7/11/12.

    Docket Numbers: RP12-844-000.
    Applicants: Gulf Crossing Pipeline Company LLC.
    Description: Antero 2 to Tenaska 550 Cap Rel Neg Rate Agmt filing
to be effective 7/1/2012.
    Filed Date: 6/29/12.
    Accession Number: 20120629-5198.
    Comments Due: 5 p.m. ET 7/11/12.

    Docket Numbers: RP12-845-000.
    Applicants: ANR Pipeline Company.
    Description: PFSA Revisions and Housekeeping to be effective 8/1/
2012.
    Filed Date: 6/29/12.
    Accession Number: 20120629-5202.
    Comments Due: 5 p.m. ET 7/11/12.

    Docket Numbers: RP12-846-000.
    Applicants: Colorado Interstate Gas Company LLC.
    Description: Off System Receipt to Delivery Balancing to be
effective 8/1/2012.
    Filed Date: 6/29/12.
    Accession Number: 20120629-5246.
    Comments Due: 5 p.m. ET 7/11/12.

    Any person desiring to intervene or protest in any of the above
proceedings must file in accordance with Rules 211 and 214 of the
Commission's Regulations (18 CFR 385.211 and 385.214) on or before 5:00
p.m. Eastern time on the specified comment date. Protests may be
considered, but intervention is necessary to become a party to the
proceeding.
    The filings are accessible in the Commission's eLibrary system by
clicking on the links or querying the docket number.
    eFiling is encouraged. More detailed information relating to filing
requirements, interventions, protests, and service can be found at:
http://www.ferc.gov/docs-filing/efiling/filing-req.pdf. For other
information, call<PHONE_NUMBER> (toll free). For TTY, call (202) 502-
8659.

    Dated July 2, 2012.
Nathaniel J. Davis, Sr.,
Deputy Secretary
[FR Doc. 2012-16687 Filed 7-6-12; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register: June 20, 2008 (Volume 73, Number 120)]
[Notices]
[Page 35194]
[DOCID:fr20jn08-122]

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DEPARTMENT OF TRANSPORTATION

Federal Motor Carrier Safety Administration

Availability of Supporting Materials

AGENCY: Federal Motor Carrier Safety Administration (FMCSA), DOT.

ACTION: Availability of supporting materials.

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

SUMMARY: This notice advises the public of the availability on the
Department of Transportation (Department) Web site of revised guidance
and an accompanying advisory policy memorandum concerning the value of
a statistical life used by Departmental analysts when assessing the
benefits of preventing fatalities. Consistent with the revised guidance
and Departmental policy, the adjusted value of a statistical life will
be assessed in conducting economic analyses and identifying the
benefits of FMCSA regulatory initiatives in all open rulemaking
dockets.

SUPPLEMENTARY INFORMATION: On February 5, 2008, the Department issued
revised guidance concerning ``Treatment of the Value of Preventing
Fatalities and Injuries in Preparing Economic Analyses.'' Based on an
improved understanding of relevant academic research literature, the
revised guidance provides that the best present estimate of the
economic value of preventing a human fatality is $5.8 million. In an
advisory memorandum issued concurrently with the revised guidance to
Secretarial Officers and Modal Administrators, Assistant Secretary for
Transportation Policy Tyler Duval and General Counsel D.J. Gribbin
instructed that the newly adjusted $5.8 million human life value should
be used, effective immediately, for analyses performed by the
Department. In addition, the memorandum announced that the Department
will, for the first time, require supplementary analyses at values for
a statistical life higher and lower than the $5.8 million adjusted
value--specifically, assumptions of $3.2 million and $8.4 million for
the value associated with each life saved.
    Consistent with the revised Departmental guidance, FMCSA has
reassessed the regulatory analyses in open rulemaking dockets to take
account of the adjusted human life value. The revised guidance raising
the economic value of preventing a human fatality and the accompanying
policy memorandum may be found on the DOT Web site at: http://
ostpxweb.ost.dot.gov/policy/reports/080205.htm.

    Issued on: June 12, 2008.
John H. Hill,
Administrator.
[FR Doc. E8-14008 Filed 6-19-08; 8:45 am]

BILLING CODE 4910-EX-P


[Federal Register Volume 75, Number 141 (Friday, July 23, 2010)]
[Notices]
[Pages 43219-43221]
[FR Doc No: 2010-18036]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-62518; File No. SR-Phlx-2010-90]

Self-Regulatory Organizations; NASDAQ OMX PHLX, Inc.; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change Relating to
Complex Orders

July 16, 2010.
    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 28, 2010, NASDAQ OMX PHLX, Inc. (``Phlx'' 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 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.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes [sic] amend its Section II equity options
fees to: (i) Pay a $0.05 per contract side rebate to members for
certain Customer complex orders \3\; and (ii) assess a $0.05 fee to
Firms on the contra-side of a Customer complex order that have reached
the maximum on the Firm Related Equity Option Cap.
---------------------------------------------------------------------------

    \3\ A complex order is a spread, straddle, combination, ratio or
collar order, all of which consist of more than one component,
priced like a single order at a net debit or credit based on the
prices of the individual components. See Exchange Rule 1080.08
Commentary .08(a)(i). In 2008, the Exchange automated the handling
of complex orders on its electronic trading platform for options,
PHLX XL. See Securities Exchange Act Release No. 58361 (August 14,
2008), 73 FR 49529 (August 21, 2008) (SR-Phlx-2008-50). Since that
time, the Exchange has enhanced its options trading platform, now
known as Phlx XL II. See Securities Exchange Act Release No. 59995
(May 28, 2009), 74 FR 26750 (June 3, 2009) (SR-Phlx-2009-32).
---------------------------------------------------------------------------

    While changes to the Exchange's Fee Schedule pursuant to this
proposal are effective upon filing, the Exchange has designated this
proposal to be effective

for trades settling on or after July 1, 2010.
    The text of the proposed rule change is available on Phlx's Web
site at http://www.nasdaqtrader.com, on the Commission's Web site at
http://www.sec.gov, at Phlx, 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 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 purpose of the proposed rule change is to attract additional
complex order business, specifically by amending the equity options
fees to pay a $0.05 rebate per contract to members for Customer complex
orders in equity options that are electronically \4\ executed against a
non-Customer contra-side \5\ complex order or a non-Customer contra-
side individual order or quote. Currently, members are assessed the
equity options fees in Section II of the Fee Schedule for executing
Customer complex orders that are electronically executed against non-
Customer contra-side complex orders.\6\ Now, instead of assessing a fee
of $0.00 per contract, the Exchange is proposing to pay a $0.05 rebate.
Similarly, the Exchange also proposes to pay a $0.05 rebate to members
for Customer complex orders where the complex order is executed against
or ``legged'' against individual non-Customer contra-side orders or
quotes.
---------------------------------------------------------------------------

    \4\ Complex Orders executed on the floor of the Exchange and not
electronically executed are not subject to the $0.05 per contract
rebate described in this proposal.
    \5\ This would be a complex order that is contra to an order
from a specialist, Registered Options Trader (as defined in Exchange
Rule 1014(b)(i) and (ii)), Streaming Quote Trader (as defined in
Exchange Rule 1014(b)(ii)(A)), Remote Streaming Quote Specialist (as
defined in Exchange Rule 1014(b)((ii)(B)), Professional (as defined
in Exchange Rule 1000(b)(14)), Broker-Dealer or Firm. A complex
order strategy means any Complex Order involving any option series
which is priced at a net debit or credit (based on the relative
prices of each component). The Exchange will calculate both a bid
price and an offer price for each Complex Order Strategy based on
the current PBBO (as defined below) [sic] for each component of the
Complex Order and the bid/ask differential for each component. See
Exchange Rule 1080, Commentary .08(a)(ii).
    \6\ The proposed rebate and fee do not apply to any of the
symbols listed in Section 1, titled ``Rebates for Adding and Fees
for Removing Liquidity in Select Symbols.''
---------------------------------------------------------------------------

    The Exchange would continue to assess other market participants the
current equity options fees. The payment for order flow fees will
continue to apply to complex order transactions. The Exchange believes
that paying rebates for executing such Customer complex orders as
described herein will increase the volume of complex orders that are
executed on Phlx XL II.
    The Exchange also proposes to assess a $0.05 per contract fee to
Firms that: (i) Are on the contra-side of a Customer complex order; and
(ii) have reached the maximum of the Firm Related Equity Option Cap.
Currently, the Exchange has in place a Firm Related Equity Option Cap
of $75,000. Firms are subject to this Firm Related Equity Option Cap
per member organization for equity option transactions, in the
aggregate, for one billing month.\7\ The Exchange believes that
assessing such a fee to Firms for transacting Customer complex orders,
once that Firm has reached the maximum of the Firm Related Equity
Option Cap, will help defray the cost of paying the $0.05 per contract
rebate to Customers. For example, when a Firm exceeds the $75,000 Firm
Related Equity Option Cap, a $0.05 per contract fee will be added to
the Firm Related Equity Option Cap, over those trades that were counted
in reaching the $75,000, when a Firm is contra to a Customer Complex
Order. The Exchange proposes to amend the current language in the Fee
Schedule, relating to equity option fees, concerning the Firm Related
Equity Option Cap, to reflect the proposal and also amend the language
to provide more clarity to the $75,000 cap.
---------------------------------------------------------------------------

    \7\ The exception to this is for orders of joint back-office
participants. The equity options transaction charges are waived for
firms executing facilitation orders pursuant to Exchange Rule 1064
when such members are trading in their own proprietary account.
---------------------------------------------------------------------------

    While changes to the Exchange's Fee Schedule pursuant to this
proposal are effective upon filing, the Exchange has designated this
proposal to be effective for trades settling on or after July 1, 2010.
2. Statutory Basis
    The Exchange believes that its proposal to amend its Fee Schedule
is consistent with Section 6(b) of the Act \8\ in general, and furthers
the objectives of Section 6(b)(4) of the Act \9\ in particular, in that
it is an equitable allocation of reasonable fees and other charges
among Exchange members.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78f(b).
    \9\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

    The Exchange believes that paying a rebate to members for
electronically-delivered complex orders is equitable because it is
similar to rebates currently being paid by the International Stock
Exchange LLC (``ISE'') for select symbols.\10\ By offering the $0.05
per contract rebate, the Exchange hopes to encourage more customer
complex orders to be executed via Phlx XL. The $0.05 per contract
rebate is reasonable because it is similar to rebates paid by other
exchanges for customer orders.\11\
---------------------------------------------------------------------------

    \10\ See ISE's Schedule of Fees.
    \11\ See Securities Exchange Release Act. 59478 (February 27,
2009), 74 FR 9857 (March 6, 2009) (SR-NYSEALTR-2009-19).
---------------------------------------------------------------------------

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.

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) of the Act \12\ and Rule 19b-4(f)(2) \13\ thereunder. 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.
---------------------------------------------------------------------------

    \12\ 15 U.S.C. 78s(b)(3).
    \13\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

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-Phlx-2010-90 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-Phlx-2010-90. 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 Web site 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
a.m. and 3 p.m. Copies of such filing will also be available for
inspection and copying at the principal office of the Exchange. 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 No. SR-Phlx-2010-90 and should be
submitted on or before August 13, 2010.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
---------------------------------------------------------------------------

    \14\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-18036 Filed 7-22-10; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: July 15, 2008 (Volume 73, Number 136)]
[Notices]
[Page 40574]
[DOCID:fr15jy08-42]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

 [Project No. 1417-198]

Central Nebraska Public Power and Irrigation District; Notice of
Availability of Environmental Assessment

July 8, 2008.
    In accordance with the National Environmental Policy Act of 1969
and the Federal Energy Regulatory Commission's regulations, 18 CFR Part
380 (Order No. 486, 52 FR 47879) the Office of Energy Projects has
prepared an environmental assessment (EA) for an application filed by
Central Nebraska Public Power and Irrigation District (licensee) on
February 12, 2007, requesting Commission approval to amend the Land and
Shoreline Management Plan (LSMP) for the Kingsley Dam Hydroelectric
Project (FERC No. 1417). The licensee proposes to reclassify certain
shoreline lands at Plum Creek reservoir (reservoir) from open-space to
residential in order to allow adjacent landowners to apply for
shoreline access facilities. The reservoir is located within the Platte
River Basin in Dawson and Gosper Counties, near the towns of Lexington
and Elwood, Nebraska. The project does not occupy any federal lands.
The EA evaluates the environmental impacts that would result from
approving the licensee's proposal. The EA finds that approval of the
application would not constitute a major federal action significantly
affecting the quality of the human environment.
    A copy of the EA is on file with the Commission and is available
for public inspection. The EA may also be viewed on the Commission's
Web site at http://www.ferc.gov using the ``eLibrary'' link. Enter the
docket number (P-1417) excluding the last three digits in the docket
number field to access the document. For assistance, contact FERC
Online Support at<EMAIL_ADDRESS>or toll-free at 1-866-208-
3676, or for TTY,<PHONE_NUMBER>.
    You also may register online at http://www.ferc.gov/docs-filing/
esubscription.asp to be notified via e-mail of new filings and
issuances related to this or other pending projects. For assistance,
contact FERC Online Support.
    For further information, please contact Christopher Yeakel by
telephone at<PHONE_NUMBER> or by e-mail at
<EMAIL_ADDRESS>
 Kimberly D. Bose,
Secretary.
[FR Doc. E8-16048 Filed 7-14-08; 8:45 am]

BILLING CODE 6717-01-P


[Federal Register Volume 77, Number 139 (Thursday, July 19, 2012)]
[Rules and Regulations]
[Pages 42432-42433]
[FR Doc No: 2012-17580]

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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 117

[Docket No. USCG-2012-0305]

Drawbridge Operation Regulations; Niantic River, Niantic, CT

AGENCY: Coast Guard, DHS.

ACTION: Notice canceling temporary deviation from regulations.

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SUMMARY: The Coast Guard is canceling the temporary deviation published
on May 2, 2012 (77 FR 25889) concerning the operation of the Amtrak
Railroad Bridge across the Niantic River, mile 0.0, at Niantic,
Connecticut.

DATES: The temporary deviation published on May 2, 2012 (77 FR 25889)
is cancelled as of July 14, 2012.

ADDRESSES: The docket for this cancelled deviation is available for
inspection or copying at the 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, between 9 a.m. and 5
p.m., Monday through Friday, except Federal holidays. You may also find
this docket on the Internet by going to http://www.regulations.gov,
inserting USCG-2012-0305 in the ``Keyword'' box and then clicking
``Search''.

FOR FURTHER INFORMATION CONTACT: Ms. Judy Leung-Yee, Project Officer,
First Coast Guard District, telephone<PHONE_NUMBER>, email
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

Basis and Purpose

    On May 2, 2012, we published a temporary deviation entitled
``Drawbridge Operations: Niantic River, Niantic, CT'' in the Federal
Register (77 FR 25889) for the Amtrak Railroad Bridge, across the
Niantic River, mile 0.0, at Niantic, Connecticut. This deviation from
the operating regulations was authorized under 33 CFR 117.35.

Cancellation

    The Coast Guard previously issued a temporary deviation to Amtrak
published on May 2, 2012 (77 FR 25889) to allow their bridge to remain
in the closed position from 11 p.m. through 6 a.m., Monday through
Thursday, beginning May 15, 2012 until August 15, 2012. The temporary
deviation was necessary to facilitate completion of machinery
installation and lift span work at the new railroad bridge.
    In May 2012, the contractor building the bridge discovered a minor
shift in the bascule pier, causing a misalignment of the new bridge.
Until the pier alignment problem is resolved, the work anticipated to
be completed during the closures authorized under the May 2, 2012 (77
FR 25889) temporary deviation could not be completed.
    In order to complete all the remaining work and correct the pier
alignment problem a new temporary deviation is required authorizing a
48 hour bridge closure from 9 p.m. July 15 to 9 p.m. July 17, 2012 and
a series of overnight closures between July 22 and August 22, 2012.
    As a result of all the above information it was determined that the
temporary deviation published on May 2, 2012 (77 FR 25889) must be
cancelled on July 14, 2012.

    Dated: July 9, 2012.
Gary Kassof,
Bridge Program Manager, First Coast Guard District.
[FR Doc. 2012-17580 Filed 7-18-12; 8:45 am]
BILLING CODE 9110-04-P


[Federal Register Volume 78, Number 139 (Friday, July 19, 2013)]
[Notices]
[Pages 43209-43210]
[FR Doc No: 2013-17327]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2013-N-0815]

Narcolepsy Public Meeting on Patient-Focused Drug Development

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice of public meeting; request for comments.

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SUMMARY: The Food and Drug Administration (FDA) is announcing a public
meeting and an opportunity for public comment on Patient-Focused Drug
Development for narcolepsy. Patient-Focused Drug Development is part of
FDA's performance commitments in the fifth authorization of the
Prescription Drug User Fee Act (PDUFA V). The public meeting is
intended to allow FDA to obtain patients' perspectives on the impact of
narcolepsy on daily life as well as the available therapies for
narcolepsy.

DATES: The public meeting will be held on September 24, 2013, from 1
p.m. to 5 p.m. Registration to attend the meeting must be received by
September 13, 2013. See the SUPPLEMENTARY INFORMATION section for
information on how to register for the meeting. Submit electronic or
written comments by November 25, 2013.

ADDRESSES: The meeting will be held at the FDA White Oak Campus, 10903
New Hampshire Ave., Building 31 Conference Center, Section A of the
Great Room (Rm. 1503), Silver Spring, MD 20993. Entrance for the public
meeting participants is through Building 1, where routine security
check procedures will be performed. For more information on parking and
security procedures, please refer to http://www.fda.gov/AboutFDA/WorkingatFDA/BuildingsandFacilities/WhiteOakCampusInformation/ucm241740.htm.
    Submit electronic comments to www.regulations.gov. Submit written
comments to the Division of Dockets Management (HFA-305), Food and Drug
Administration, 5630 Fishers Lane, Rm. 1061, Rockville, MD 20852. All
comments should be identified with the docket number found in brackets
in the heading of this document.
    FDA will post the agenda approximately 5 days before the meeting
at: http://www.fda.gov/ForIndustry/UserFees/PrescriptionDrugUserFee/ucm359018.htm.

FOR FURTHER INFORMATION CONTACT: Pujita Vaidya, Center for Drug
Evaluation and Research, Food and Drug Administration, 10903 New
Hampshire Ave., Bldg. 51, Rm. 1170, Silver Spring, MD 20993, 301-796-
0684, FAX:<PHONE_NUMBER>, email<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. Background on Patient-Focused Drug Development

    FDA has selected narcolepsy to be the focus of a meeting under
Patient-Focused Drug Development, an initiative that involves obtaining
a better understanding of patients' perspectives on the severity of the
disease and the available therapies for the condition. Patient-Focused
Drug Development is being conducted to fulfill FDA's performance
commitments made as part of the authorization of PDUFA under Title I of
the Food and Drug Safety and Innovation Act (FDASIA) (Pub. L. 112-144).
The full set of performance commitments is available on the FDA Web
site at http://www.fda.gov/downloads/forindustry/userfees/prescriptiondruguserfee/ucm270412.pdf.
    FDA has committed to obtain the patient perspective in 20 disease
areas during the course of PDUFA V. For each disease area, the Agency
will conduct a public meeting to discuss the disease and its impact on
patients' daily lives, the types of treatment benefit that matter most
to patients, and patients' perspectives on the adequacy of the
available therapies. These meetings will include participation of FDA
review divisions, the relevant patient community, and other interested
stakeholders.
    On April 11, 2013, FDA published a notice in the Federal Register
(78 FR 22613) announcing the disease areas for meetings in fiscal years
(FY) 2013-2015, the first 3 years of the 5-year PDUFA V timeframe. To
develop the list of disease areas, the Agency used several criteria
that were outlined in the April 11 notice. The Agency gathered public
comment on these criteria and potential disease areas through a notice
for public comment published in the Federal Register on September 24,
2012 (77 FR 55849), and through a public meeting

held on October 25, 2012. In selecting the disease areas, FDA carefully
considered the public comments received and the perspectives of its
review divisions. By the end of FY 2015, FDA will initiate another
public process for determining the disease areas for FY 2016-2017. More
information, including the list of disease areas and a general schedule
of meetings, is posted on FDA's Web site at http://www.fda.gov/ForIndustry/UserFees/PrescriptionDrugUserFee/ucm326192.htm.

II. Public Meeting Information

A. Purpose and Scope of the Meeting

    As part of Patient-Focused Drug Development, FDA will gather
patient and patient stakeholder input on symptoms of narcolepsy that
matter most to patients and on current approaches to treating
narcolepsy. Narcolepsy is a chronic disorder of the central nervous
system caused by the brain's inability to control sleep-wake cycles and
is characterized by excessive daytime sleepiness, cataplexy,
hallucination, and disturbed nocturnal sleep. Although there is no cure
for narcolepsy, medications and lifestyle modifications can help
patients manage their symptoms. FDA is interested in obtaining a better
understanding of patients' perspectives on the severity of the disease
and assessments of available therapies.
    The questions that will be asked of patients and patient
stakeholders at the meeting are listed in this section, organized by
topic. For each topic, a brief patient panel discussion will begin the
dialogue, followed by a facilitated discussion inviting comments from
other patient and patient stakeholder participants. In addition to
input generated through this public meeting, FDA is interested in
receiving patient input addressing these questions through the public
docket (see ADDRESSES).
    Topic 1: Disease symptoms and daily impacts that matter most to
patients:
    1. Of all the symptoms that you experience because of your
condition, which one to three symptoms have the most significant impact
on your life? (Examples may include excessive daytime sleepiness,
cataplexy, etc.)
    2. Are there specific activities that are important to you but that
you cannot do at all or as fully as you would like because of your
condition? (Examples of activities may include sleeping through the
night, work and school performance, etc.)
    3. How have your symptoms changed over time?
    3.1. Do your symptoms come and go? If so, do you know of anything
that makes your symptoms better? Worse?
    Topic 2: Patients' perspectives on current approaches to treating
narcolepsy:
    1. What are you currently doing to help treat your condition or its
symptoms? (Examples may include FDA-approved medicines, over-the-
counter products, and other therapies including non-drug therapies such
as lifestyle modifications.)
    1.1. What specific symptoms do your therapies address?
    1.2. How has your treatment regimen changed over time, and why?
    2. How well does your current treatment regimen treat the most
significant symptoms of your disease?
    2.1. How well do these therapies improve your ability to do
specific activities that are important to you in your daily life?
    2.2. How well have these therapies worked for you as your condition
has changed over time?
    3. What are the most significant downsides to your current
therapies, and how do they affect your daily life? (Examples of
downsides may include bothersome side effects, inconvenient dosing
schedules, access issues, etc.)
    4. Assuming there is no complete cure for your condition, what
specific things would you look for in an ideal therapy for your
condition?

B. Meeting Attendance and/or Participation

    If you wish to attend this meeting, visit http://patientfocusednarcolepsy.eventbrite.com. Please register by September
13, 2013. Those who are unable to attend the meeting in person can
register to view a live webcast of the meeting. You will be asked to
indicate in your registration whether you plan to attend in person or
via the webcast. Your registration should also contain your complete
contact information, including name, title, affiliation, address, email
address, and phone number.
    Seating will be limited, so early registration is recommended.
Registration is free and will be on a first-come, first-served basis.
However, FDA may limit the number of participants from each
organization based on space limitations. Registrants will receive
confirmation once they have been accepted. Onsite registration on the
day of the meeting will be based on space availability. If you need
special accommodations because of disability, please contact Pujita
Vaidya (see FOR FURTHER INFORMATION CONTACT) at least 7 days before the
meeting.
    Patients who are interested in presenting comments as part of the
initial panel discussions will be asked to indicate in their
registration which topic(s) they wish to address. They will also be
asked to send a brief summary of responses to the topic questions to
<EMAIL_ADDRESS>Panelists will be notified of their
selection soon after the close of registration on September 13, 2013.
FDA will try to accommodate all patients and patient stakeholders who
wish to speak, either through the panel discussion or audience
participation; however, the duration of comments may be limited by time
constraints.
    Interested members of the public, including those who attend the
meeting in person or through the webcast, are invited to provide
electronic or written responses to the questions pertaining to Topics 1
and 2 to the public docket (see ADDRESSES). Comments may be submitted
until November 25, 2013.

    Dated: July 15, 2013.
Leslie Kux,
Assistant Commissioner for Policy.
[FR Doc. 2013-17327 Filed 7-18-13; 8:45 am]
BILLING CODE 4160-01-P


[Federal Register Volume 86, Number 133 (Thursday, July 15, 2021)]
[Rules and Regulations]
[Pages 37221-37224]
[FR Doc No: 2021-15029]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. FAA-2020-0981; Project Identifier AD-2020-00919-T;
Amendment 39-21615; AD 2021-13-10]
RIN 2120-AA64

Airworthiness Directives; The Boeing Company Airplanes

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final rule.

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SUMMARY: The FAA is adopting a new airworthiness directive (AD) for
certain The Boeing Company Model 777 airplanes. This AD was prompted by
reports indicating that during investigation of a fuel leak, fatigue
cracking was found on the forward inboard side of the fuel tank access
door cutouts on the left and right lower wing skin. The cause of the
cracking is attributed to corrosion damage. This AD requires repetitive
inspections for any existing repair of the wing lower skin fuel tank
and dry bay access door cutouts on the left and right lower wing skin,
and applicable on-condition actions. The FAA is issuing this AD to
address the unsafe condition on these products.

DATES: This AD is effective August 19, 2021.
    The Director of the Federal Register approved the incorporation by
reference of a certain publication listed in this AD as of August 19,
2021.

ADDRESSES: For service information identified in this final rule,
contact Boeing Commercial Airplanes, Attention: Contractual & Data
Services (C&DS), 2600 Westminster Blvd., MC 110-SK57, Seal Beach, CA
90740-5600; telephone<PHONE_NUMBER>; internet https://www.myboeingfleet.com. You may view this service information at the
FAA, Airworthiness Products Section, Operational Safety Branch, 2200
South 216th St., Des Moines, WA. For information on the availability of
this material at the FAA, call<PHONE_NUMBER>. It is also available at
https://www.regulations.gov by searching for and locating Docket No.
FAA-2020-0981.

Examining the AD Docket

    You may examine the AD docket at https://www.regulations.gov by
searching for and locating Docket No. FAA-2020-0981; or in person at
Docket Operations between 9 a.m. and 5 p.m., Monday through Friday,
except Federal holidays. The AD docket contains this final rule, any
comments received, and other information. The address for Docket
Operations is U.S. Department of Transportation, Docket Operations, M-
30, West Building Ground Floor, Room W12-140, 1200 New Jersey Avenue
SE, Washington, DC 20590.

FOR FURTHER INFORMATION CONTACT: Luis A. Cortez-Muniz, Aerospace
Engineer, Airframe Section, FAA, Seattle ACO Branch, 2200 South 216th
St., Des Moines, WA 98198; phone and fax:<PHONE_NUMBER>; email:
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

Background

    The FAA issued a notice of proposed rulemaking (NPRM) to amend 14
CFR part 39 by adding an AD that would apply to certain The Boeing
Company Model 777 airplanes. The NPRM published in the Federal Register
on November 18, 2020 (85 FR 73430). The NPRM was prompted by reports
indicating that during investigation of a fuel leak, fatigue cracking
was found on the forward inboard side of the fuel tank access door
cutouts on the left and right lower wing skin. The cause of the
cracking is attributed to corrosion damage. In the NPRM, the FAA
proposed to require repetitive inspections for any existing repair of
the wing lower skin fuel tank and dry bay access door cutouts on the
left and right lower wing skin, and applicable on-condition actions.
The FAA is issuing this AD to address fatigue cracking, which could
result in the inability of a principal structural element to sustain
limit load, and consequent reduced structural integrity of the
airplane.

Discussion of Final Airworthiness Directive

Comments

    The FAA received comments from Boeing and United Airlines. Those
commenters supported the NPRM without change.
    The FAA received additional comments from six commenters, including
AeroLogic, Air France, American Airlines, Emirates, FedEx Express
(FedEx), and one individual. The following presents the comments
received on the NPRM and the FAA's response to each comment.

Request To Revise Compliance Time

    AeroLogic, Air France, American Airlines, and Emirates asked that
the FAA re-evaluate and extend the initial and repetitive calendar-
based compliance times in the proposed AD to match heavy maintenance
intervals. The commenters stated that the 1,125-day compliance time
does not align with existing MPD intervals of 3,000 days and 4,500 days
or the existing heavy maintenance intervals. One commenter stated that,
as a long-range freight specialist it has an average flight hour/flight
cycle ratio of 6.0 to 6.3, thus reaching the flight hour LOV of the
Model 777F before reaching the flight cycle utilization that the
aircraft with crack findings had at the time of crack detection. The
commenters also stated that more frequent opening and closing of the
access doors could increase the chance of corrosion. although the
airplane with the initial crack finding was 19 years old at the time
cracking was found, and Boeing reported that only minimal corrosion was
found during lab testing of the cracking.
    The FAA does not agree with the requests to extend the compliance
time. The compliance times were coordinated with the design approval
holder based on its analysis and fleet findings. Additionally, the
commenters did not provide substantiation data that shows that the
proposed extended inspection intervals provide adequate crack
detection. However, under the provisions of paragraph (i) of this AD,
the FAA will consider requests for approval of an extension of the
compliance time if sufficient data are submitted to substantiate that
the extension would provide an acceptable level of safety. This AD has
not been changed in this regard.

Request To Change Exception

    Air France stated that paragraph (h)(1) of the proposed AD would
require using ``the effective date of this AD,'' except where Boeing
Alert Requirements Bulletin 777-57A0118 RB, dated June 23, 2020, uses
the phrase ``the original issue date of Requirements Bulletin 777-
57A0118 RB'' in a note or flag note. Air France noted that making the
exception depend on a note or flag note is confusing. Air France asked
that the FAA change the exception to apply throughout the proposed AD
requirements instead of depending on

where the phrase ``the original issue date of Requirements Bulletin
777-57A0118 RB'' is used.
    The FAA agrees to change the exception in paragraph (h)(1) of this
AD. The exception specified in paragraph (h)(1) of the proposed AD was
intended to apply only to certain dates referenced in Boeing Alert
Requirements Bulletin 777-57A0118 RB, dated June 23, 2020. The
exception applies to the associated date in the Effectivity paragraph
and the Condition and Compliance columns of tables 1 through 10 of
paragraph 1.E., ``Compliance,'' and not to flag note (c) in the tables.
Repairs accomplished relative to the original issue date of
Requirements Bulletin 777-57A0118 RB, as specified in flag note (c) in
those tables, do not need an exception for compliance with this AD. The
FAA has changed paragraph (h)(1) of this AD accordingly.

Request To Change Estimated Work Hours for Inspection

    FedEx stated that the hours estimated for ``the inspection'' in the
Costs of Compliance section of the NPRM is lower than its forecast of
80 work-hours and 60 elapsed hours. FedEx noted that the NPRM specified
only 34 work-hours.
    The FAA infers that the commenter is asking to increase the work
hours for the general visual inspections specified in the Costs of
Compliance section of this AD to 80 work-hours. We do not agree. The
estimate of 34 work-hours includes access and close for accomplishing
the general visual inspections. The FAA recognizes that additional on-
condition inspections could be required, depending on the results of
the general visual inspection. However, since the FAA has no way of
determining the number of aircraft that might need these on-condition
inspections, the hours and cost estimates for the additional
inspections are provided in the on-condition actions table on a per-
airplane basis. This AD has not been changed in this regard.

Request To Allow Detailed Inspections for Certain Airplanes

    One individual asked that the FAA allow detailed and high frequency
eddy current (HFEC) inspections for airplanes in Group 3, Condition 17
(for the right wing), similar to the detailed and HFEC inspections
allowed for airplanes in Group 3, Condition 14 (for the left wing). The
commenter observed that Condition 14 specifies detailed and HFEC
inspections, whereas Condition 17 specifies contacting Boeing. The
commenter stated that these conditions are the same and symmetrical for
the left- and right-hand wings.
    The FAA does not agree with the commenter's request. Configurations
on Group 3 airplanes may be different on the left and right sides due
to previously approved repairs or production changes. The inspection
procedures were coordinated with the design approval holder regarding
the airplane configurations. Therefore, this AD has not been changed in
this regard.

Request To Clarify Cost Estimate

    AeroLogic stated that the proposed compliance time would result in
an economic impact that was not considered in the operator burden
provided in the cost estimate.
    The FAA provides the following clarification: The cost information
describes only the direct costs of the specific actions required by
this AD. Based on the best data available, the manufacturer provided
the number of work hours necessary to do the required actions. This
number represents the time necessary to perform only the actions
actually required by this AD. We recognize that, in doing the actions
required by an AD, operators might incur incidental costs in addition
to the direct costs. The cost analysis in AD rulemaking actions,
however, typically does not include incidental costs such as the time
necessary for planning or time necessitated by other administrative
actions. Those incidental costs, which might vary significantly among
operators, are almost impossible to calculate.
    Aerologic also stated that the aircraft maintenance manual (AMM)
recommends using new gaskets to prevent fuel leaks after each tank
access. Therefore, the parts cost should be estimated with up to 240
USD per gasket. At 18 Access Doors opened for every repeat inspection,
this sums up to 4,320 USD per aircraft for each inspection cycle.
    The FAA does not agree to change the estimated parts costs, as the
actions in the AMM are not required by this AD.

Conclusion

    The FAA reviewed the relevant data, considered any comments
received, and determined that air safety requires adopting this AD as
proposed. Except for minor editorial changes, this AD is adopted as
proposed in the NPRM. None of the changes will increase the economic
burden on any operator.

Related Service Information Under 1 CFR Part 51

    The FAA reviewed Boeing Alert Requirements Bulletin 777-57A0118 RB,
dated June 23, 2020. The service information describes procedures for
repetitive general visual inspections for any existing repair of the
fuel tank access door cutouts on the left and right lower wing skin,
and applicable on-condition actions. On-condition actions include
detailed and HFEC inspections for any corrosion, fretting, and
cracking; a blend out of corrosion or fretting that meets certain
criteria; and repair. This service information is reasonably available
because the interested parties have access to it through their normal
course of business or by the means identified in ADDRESSES.

Costs of Compliance

    The FAA estimates that this AD affects 221 airplanes of U.S.
registry. The FAA estimates the following costs to comply with this AD:

                                      Estimated Costs for Required Actions
----------------------------------------------------------------------------------------------------------------
                                                                                Cost on U.S.
              Action                    Labor cost        Parts cost      Cost per product        operators
----------------------------------------------------------------------------------------------------------------
General visual inspection........  Up to 34 work-hours              $0  Up to $2,890 per     Up to $638,690 per
                                    x $85 per hour =                     inspection cycle.    inspection cycle.
                                    Up to $2,890 per
                                    inspection cycle.
----------------------------------------------------------------------------------------------------------------

    The FAA estimates the following costs to do any necessary on-
condition actions that would be required. The FAA has no way of
determining the number of aircraft that might need these on-condition
actions:

                                    Estimated Costs of On-Condition Actions *
----------------------------------------------------------------------------------------------------------------
                                                                                Cost on U.S.
              Action                    Labor cost        Parts cost      Cost per product        operators
----------------------------------------------------------------------------------------------------------------
Blend out of corrosion or          2 work-hours x $85               $0  $170 per blend out.  $170 per blend out.
 fretting.                          per hour = $170
                                    per blend out.
Repair of crack 0.2 inch or less   2 work-hours x $85                0  $170 per crack.....  $170 per crack.
 with no blend repair or keyway     per hour = $170
 trim modification.                 per crack.
Detailed and HFEC inspections....  2 work-hours x $85                0  $170 per access      $170 per access
                                    per hour = $170                      door cutout.         door cutout.
                                    per access door
                                    cutout.
----------------------------------------------------------------------------------------------------------------
* The FAA has received no definitive data on which to base the cost estimates for the on-condition repairs
  specified in this AD that require obtaining an alternative method of compliance (AMOC).

Authority for This Rulemaking

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

Regulatory Findings

    This AD will not have federalism implications under Executive Order
13132. This AD will not have a substantial direct effect on the States,
on the relationship between the national government and the States, or
on the distribution of power and responsibilities among the various
levels of government.
    For the reasons discussed above, I certify that this AD:
    (1) Is not a ``significant regulatory action'' under Executive
Order 12866,
    (2) Will not affect intrastate aviation in Alaska, and
    (3) Will not have a significant economic impact, positive or
negative, on a substantial number of small entities under the criteria
of the Regulatory Flexibility Act.

List of Subjects in 14 CFR Part 39

    Air transportation, Aircraft, Aviation safety, Incorporation by
reference, Safety.

The Amendment

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

PART 39--AIRWORTHINESS DIRECTIVES

0
1. The authority citation for part 39 continues to read as follows:

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

Sec.  39.13  [Amended]

0
2. The FAA amends Sec.  39.13 by adding the following new airworthiness
directive:

2021-13-10 The Boeing Company: Amendment 39-21615; Docket No. FAA-
2020-0981; Project Identifier AD-2020-00919-T.

(a) Effective Date

    This airworthiness directive (AD) is effective August 19, 2021.

(b) Affected ADs

    None.

(c) Applicability

    This AD applies to The Boeing Company Model 777-200, -200LR, -
300, -300ER, and 777F series airplanes, certificated in any
category, as identified in Boeing Alert Requirements Bulletin 777-
57A0118 RB, dated June 23, 2020.

(d) Subject

    Air Transport Association (ATA) of America Code 57, Wings.

(e) Unsafe Condition

    This AD was prompted by reports indicating that during
investigation of a fuel leak, fatigue cracking was found on the
forward inboard side of the fuel tank access door cutouts on the
left and right lower wing skin. The cause of the cracking is
attributed to corrosion damage. The FAA is issuing this AD to
address such cracking, which could result in the inability of a
principal structural element to sustain limit load, and consequent
reduced structural integrity of the airplane.

(f) Compliance

    Comply with this AD within the compliance times specified,
unless already done.

(g) Required Actions

    Except as specified by paragraph (h) of this AD: At the
applicable times specified in the ``Compliance'' paragraph of Boeing
Alert Requirements Bulletin 777-57A0118 RB, dated June 23, 2020, do
all applicable actions identified in, and in accordance with, the
Accomplishment Instructions of Boeing Alert Requirements Bulletin
777-57A0118 RB, dated June 23, 2020.
    Note 1 to paragraph (g): Guidance for accomplishing the actions
required by this AD can be found in Boeing Alert Service Bulletin
777-57A0118, dated June 23, 2020, which is referred to in Boeing
Alert Requirements Bulletin 777-57A0118 RB, dated June 23, 2020.

(h) Exceptions to Service Information Specifications

    (1) Where the ``Effectivity'' paragraph, and the Condition and
Compliance Time columns of the tables in the ``Compliance''
paragraph, of Boeing Alert Requirements Bulletin 777-57A0118 RB,
dated June 23, 2020, use the phrase ``the original issue date of
Requirements Bulletin 777-57A0118 RB,'' this AD requires using ``the
effective date of this AD.''
    (2) Where Boeing Alert Requirements Bulletin 777-57A0118 RB,
dated June 23, 2020, specifies contacting Boeing for repair
instructions or for alternative inspections: This AD requires doing
the repair, or doing the alternative inspections and applicable on-
condition actions using a method approved in accordance with the
procedures specified in paragraph (i) of this AD.

(i) Alternative Methods of Compliance (AMOCs)

    (1) The Manager, Seattle ACO Branch, FAA, has the authority to
approve AMOCs for this AD, if requested using the procedures found
in 14 CFR 39.19. In accordance with 14 CFR 39.19, send your request
to your principal inspector or responsible Flight Standards Office,
as appropriate. If sending information directly to the manager of
the certification office, send it to the attention of the person
identified in paragraph (j)(1) of this AD. Information may be
emailed to<EMAIL_ADDRESS>    (2) Before using any approved AMOC, notify your appropriate
principal inspector, or lacking a principal inspector, the manager
of the responsible Flight Standards Office.
    (3) An AMOC that provides an acceptable level of safety may be
used for any repair,

modification, or alteration required by this AD if it is approved by
The Boeing Company Organization Designation Authorization (ODA) that
has been authorized by the Manager, Seattle ACO Branch, FAA, to make
those findings. To be approved, the repair method, modification
deviation, or alteration deviation must meet the certification basis
of the airplane, and the approval must specifically refer to this
AD.

(j) Related Information

    For more information about this AD, contact Luis A. Cortez-
Muniz, Aerospace Engineer, Airframe Section, FAA, Seattle ACO
Branch, 2200 South 216th St., Des Moines, WA 98198; phone and fax:
206-231-3958; email<EMAIL_ADDRESS>
(k) Material Incorporated by Reference

    (1) The Director of the Federal Register approved the
incorporation by reference (IBR) of the service information listed
in this paragraph under 5 U.S.C. 552(a) and 1 CFR part 51.
    (2) You must use this service information as applicable to do
the actions required by this AD, unless the AD specifies otherwise.
    (i) Boeing Alert Requirements Bulletin 777-57A0118 RB, dated
June 23, 2020.
    (ii) [Reserved]
    (3) For service information identified in this AD, contact
Boeing Commercial Airplanes, Attention: Contractual & Data Services
(C&DS), 2600 Westminster Blvd., MC 110-SK57, Seal Beach, CA 90740-
5600; telephone<PHONE_NUMBER>; internet https://www.myboeingfleet.com.
    (4) You may view this service information at the FAA,
Airworthiness Products Section, Operational Safety Branch, 2200
South 216th St., Des Moines, WA. For information on the availability
of this material at the FAA, call<PHONE_NUMBER>.
    (5) You may view this service information that is incorporated
by reference at the National Archives and Records Administration
(NARA). For information on the availability of this material at
NARA, email<EMAIL_ADDRESS>or go to: https://www.archives.gov/federal-register/cfr/ibr-locations.html.

    Issued on June 10, 2021.
Ross Landes,
Deputy Director for Regulatory Operations, Compliance & Airworthiness
Division, Aircraft Certification Service.
[FR Doc. 2021-15029 Filed 7-14-21; 8:45 am]
BILLING CODE 4910-13-P