[Federal Register: March 28, 2006 (Volume 71, Number 59)]
[Notices]
[Page 15401]
[DOCID:fr28mr06-43]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. RP99-301-139]

ANR Pipeline Company; Notice of Negotiated Rate Filing

March 21, 2006.
    Take notice that on March 17, 2006, ANR Pipeline Company (ANR)
tendered for filing and approval ten amendments to existing negotiated
rate service agreements between ANR and Wisconsin Gas LLC and fourteen
amendments to existing negotiated rate service agreements between ANR
and Wisconsin Electric Power Company.
    ANR requests that the Commission accept and approve the subject
negotiated rate agreement amendments to be effective April 1, 2006.
    Any person desiring to intervene or to protest this filing must
file in accordance with Rules 211 and 214 of the Commission's Rules of
Practice and Procedure (18 CFR 385.211 and 385.214). Protests will be
considered by the Commission in determining the appropriate action to
be taken, but will not serve to make protestants parties to the
proceeding. Any person wishing to become a party must file a notice of
intervention or motion to intervene, as appropriate. Such notices,
motions, or protests must be filed in accordance with the provisions of
Section 154.210 of the Commission's regulations (18 CFR 154.210).
Anyone filing an intervention or protest must serve a copy of that
document on the Applicant. Anyone filing an intervention or protest on
or before the intervention or protest date need not serve motions to
intervene or protests on persons other than the Applicant.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper using the ``eFiling'' link at http://www.ferc.gov.
 Persons unable to file electronically should submit an

original and 14 copies of the protest or intervention to the Federal
Energy Regulatory Commission, 888 First Street, NE., Washington, DC
20426.
    This filing is accessible on-line at http://www.ferc.gov, using the

``eLibrary'' link and is available for review in the Commission's
Public Reference Room in Washington, DC. There is an ``eSubscription''
link on the Web site that enables subscribers to receive e-mail
notification when a document is added to a subscribed docket(s). For
assistance with any FERC Online service, please e-mail
<EMAIL_ADDRESS>or call<PHONE_NUMBER> (toll free). For

TTY, call<PHONE_NUMBER>.

Magalie R. Salas,
Secretary.
 [FR Doc. E6-4470 Filed 3-27-06; 8:45 am]

BILLING CODE 6717-01-P


[Federal Register Volume 80, Number 194 (Wednesday, October 7, 2015)]
[Notices]
[Pages 60665-60666]
[FR Doc No: 2015-25512]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings #2

September 30, 2015.
    Take notice that the Commission received the following electric
rate filings:

    Docket Numbers: ER13-1195-000.
    Applicants: Entergy Services, Inc.
    Description: Entergy Arkansas, Inc. submits tariff filing per
35.19a(b): Refund Report to be effective N/A.
    Filed Date: 9/30/15.
    Accession Number: 20150930-5191.
    Comments Due: 5 p.m. ET 10/21/15.

    Docket Numbers: ER15-1498-001.
    Applicants: New York Independent System Operator, Inc.
    Description: Compliance filing: Compliance tariff revision--
Competitive Entry Exemption Class Years to be effective 2/26/2015.
    Filed Date: 9/30/15.
    Accession Number: 20150930-5076.
    Comments Due: 5 p.m. ET 10/21/15.

    Docket Numbers: ER15-2746-000.
    Applicants: NorthWestern Corporation.
    Description: Section 205(d) Rate Filing: Revised Point-to-Point
TSAs with Langford (SA 32-SD) and Bryant (SA 33-SD) to be effective 10/
1/2015.
    Filed Date: 9/30/15.
    Accession Number: 20150930-5155.
    Comments Due: 5 p.m. ET 10/21/15.

    Docket Numbers: ER15-2747-000.
    Applicants: ISO New England Inc. New England Power Company, Public
Service Company of New Hampshire.
    Description: Section 205(d) Rate Filing: Granite Ridge Energy,
LLC--LGIA-ISONE/NEP/EES-15-01 to be effective 8/31/2015.
    Filed Date: 9/30/15.
    Accession Number: 20150930-5162.
    Comments Due: 5 p.m. ET 10/21/15.

    Docket Numbers: ER15-2748-000.
    Applicants: Fair Wind Power Partners, LLC.
    Description: Baseline eTariff Filing: Fair Wind Power Partners LLC
Certificate of Concurrence Filing to be effective 9/30/2015.
    Filed Date: 9/30/15.
    Accession Number: 20150930-5164.
    Comments Due: 5 p.m. ET 10/21/15.

    Docket Numbers: ER15-2749-000.
    Applicants: PacifiCorp.
    Description: Notice of Termination of City of Redding Long Term
Power Sales and Exchange Agreement RS 425 of PacifiCorp.
    Filed Date: 9/30/15.
    Accession Number: 20150930-5180.
    Comments Due: 5 p.m. ET 10/21/15.

    Docket Numbers: ER15-2750-000.
    Applicants: Galt Power Inc. Galt Power Inc. Galt Power, Inc.
    Description: Request of Galt Power, Inc. for Limited Tariff Waiver.
    Filed Date: 9/30/15.
    Accession Number: 20150930-5195.
    Comments Due: 5 p.m. ET 10/21/15.

    The filings are accessible in the Commission's eLibrary system by
clicking on the links or querying the docket number.
    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.
    eFiling is encouraged. More detailed information relating to filing
requirements, interventions, protests, service, and qualifying
facilities filings 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<PHONE_NUMBER>.

    Dated: September 30, 2015.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2015-25512 Filed 10-6-15; 8:45 am]
 BILLING CODE 6717-01-P


[Federal Register Volume 81, Number 229 (Tuesday, November 29, 2016)]
[Proposed Rules]
[Pages 85917-85919]
[FR Doc No: 2016-28628]

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DEPARTMENT OF TRANSPORTATION

National Highway Traffic Safety Administration

49 CFR Chapter V

[Docket No. NHTSA-2016-0090], Notice 3

Federal Automated Vehicles Policy

AGENCY: National Highway Traffic Safety Administration (NHTSA),
Department of Transportation (DOT).

ACTION: Notice of public meeting.

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SUMMARY: NHTSA is announcing a public meeting to seek input
specifically on the Model State Policy and Modern Regulatory Tools
sections of the recently released Federal Automated Vehicles Policy
(the Policy). The Policy is guidance that seeks to speed the delivery
of an initial regulatory framework for highly automated vehicles (HAVs)
as well as encourage conformance with best practices to guide
manufacturers and other entities in the safe design, development,
testing, and deployment of HAVs.
    The Model State Policy builds on collective knowledge gathered from
safety stakeholders, and is intended to help avoid a patchwork of
inconsistent laws and regulations. It outlines States' roles in
regulating HAVs and lays out model procedures and requirements for use
by States that wish to enact laws governing HAVs.
    The Modern Regulatory Tools section includes potential new tools
and authorities that could help NHTSA overcome the challenges and take
advantage of the opportunities involved in the safe and expeditious
development of HAVs.
    Held in two distinct parts, the public meeting in the morning
session will be an open listening session for the Model State Policy.
In the afternoon session, there will be moderated panel discussions on
the Modern Regulatory Tools. All comments during the public meeting
will be oral.

DATES: NHTSA will hold the public meeting on December 12, 2016, in
Arlington, VA. The meeting will start at 8:30 a.m. and continue until 5
p.m. local time. Check-in will begin at 8 a.m.

Attendees should arrive early enough to be seated by 8:30 a.m.

ADDRESSES: The meeting will be held at the United States Army
Conference and Event Center (CEC), located at 2425 Wilson Boulevard,
Arlington, VA 22201 (Courthouse Metro Station). This facility is
accessible to individuals with disabilities. The meeting will also be
webcast live, and a link to the webcast will be available through
http://www.nhtsa.gov/nhtsa/av/index.html.
    Docket: A docket (NHTSA-2016-0090) was created as an option for
members of the public to submit written comments on the Policy. The
formal docket comment period closed on November 22, 2016. Additional
comments may still be submitted. Comments not received in time to be
considered in the next iteration of the document will be considered in
a future iteration of it. For access to the docket, go to http://www.regulations.gov at any time or to 1200 New Jersey Avenue SE., West
Building, Ground Floor, Room W12-140, Washington, DC 20590, between 9
a.m. and 5 p.m., Monday through Friday, except Federal Holidays.
Telephone:<PHONE_NUMBER>.
    Privacy Act: Anyone is able to search the electronic form of all
comments received into any of our dockets by the name of the individual
submitting the comment (or signing the comment, if submitted on behalf
of an association, business, labor union, etc.). You may review DOT's
complete Privacy Act Statement in the Federal Register published on
April 11, 2000 (Volume 65, Number 70; Pages 19477-78), you may visit
http://www.dot.gov/privacy.html.

FOR FURTHER INFORMATION CONTACT: If you have questions about the public
meeting, please contact Ms. Yvonne Clarke, Program Assistant, Office of
Vehicle Safety Research at<PHONE_NUMBER> or by email at
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

Background

    On September 20, 2016, DOT released the Federal Automated Vehicles
Policy (the Policy). The Policy is intended to ensure automated vehicle
technologies are safely introduced and achieve their full safety
potential by removing possible roadblocks to the integration of
innovative automotive technology. The full Policy can be found at
www.nhtsa.gov/AV.
    Following publication of the Policy and during the open comment
period of the Policy, NHTSA held the first in a series of public
meetings on November 10, 2016. The morning session of the meeting
focused on all four sections of the Policy: Section I: Vehicle
Performance Guidance for Automated Vehicles, Section II: Model State
Policy, Section III: NHTSA's Current Regulatory Tools, and Section IV:
Modern Regulatory Tools. Comments were presented in an open listening
session forum. The afternoon session focused specifically on the Safety
Assessment, included under Section I: Vehicle Performance Guidance for
Automated Vehicles. NHTSA extended invitations to specific
organizations and individuals to ensure a broad perspective regarding
submission of a Safety Assessment Letter. The session closed with
opening the floor for further comments as desired.

Meeting

    NHTSA is seeking input through this series of public meetings to
further refine the Policy. The public meeting on December 12, 2016, the
second in the series, is being held to provide individuals an
opportunity to offer oral feedback regarding the following sections of
the Policy: Section II: Model State Policy and Section IV: Modern
Regulatory Tools.
    During the morning session, the agency will seek input specifically
on Section II: Model State Policy. This session will focus on gathering
feedback regarding how the States, manufacturers, and other entities
have understood and interpreted the Model State Policy. States have
already begun passing laws and developing regulations surrounding HAVs.
A national dialogue is necessary to gather additional information on
any potential challenges foreseen, suggestions for clarification, and
recommended improvements to assist in avoiding a patchwork of
inconsistent laws and regulations. The session will be an open
listening session in which individuals or organizations can register to
speak or, if time permits, provide oral comments at the conclusion of
the morning session.
    During the afternoon session of the meeting, the Agency will seek
specific input on Section IV: Modern Regulatory Tools. This section
identifies potential new regulatory tools and statutory authorities
that may aid the safe and efficient deployment of new lifesaving
technologies. This session will focus on gathering feedback on the new
tools and authorities discussed in this section, as well as other ideas
and suggestions to assist in the safe development, testing, and
deployment of HAVs. This session will consist of six moderated panels.
Each panel will run approximately 35 minutes and be guided by questions
appropriate for the topic at hand. Panels will focus on the following
subject areas:
    Panel I: Safety Assurance: Tools to demonstrate that entities
design, manufacturing, and testing processes apply the NHTSA
performance guidance, industry best practices, and other performance
criteria and standards to assure the safe operation of motor vehicles,
before those vehicles are deployed on public roads.
    Panel II: Pre-Market Approval Authority: Pre-market approval is a
substantially different regulatory approach than the current self-
certification used by NHTSA. The discussion provided in the Policy is a
preliminary exploration of issues and not intended as an endorsement.
    Panel III: Imminent Hazard Authority: This authority would enable
NHTSA to require manufacturers to take immediate action to mitigate
safety risks deemed imminent hazards.
    Panel IV: Expanded Exemption Authority for HAVs: Expanded exemption
authority could change the volume and or time limit of the existing
exemption authority to allow for greater flexibility and increase
opportunities for data collection, analysis, and planning.
    Panel V: Post-Sale Tools To Regulate Software Changes: Post-Sale
updates in software could substantially change the functionality and
operation that HAVs had when they were certified at the time of their
manufacture. Additional tools may be useful in monitoring and
regulating such updates.
    Panel VI: Tools: The Policy highlights multiple tools that could
potentially be used in safe deployment if given authority or
clarification: Variable test procedures to ensure behavioral competence
and avoid gaming of tests, functional and system safety, regular
reviews for making agency testing protocols iterative and forward-
looking, additional record keeping/reporting, and enhanced data
collection tools.
    Registration is necessary for all attendees. Attendees, including
those who do not plan to make any oral remarks at the meeting, should
register at: https://docs.google.com/forms/d/152ETANkzDa62u2_b5AkuC1Qj00xDMKP292AYZk03R78/edit by December 9, 2016.
Please provide your name, email address, and affiliation, indicate if
you wish to offer oral technical remarks, and please indicate whether
you require accommodations such as a sign language interpreter. Space
is limited, so advanced and early registration is highly encouraged.
    Although attendees will be given the opportunity to offer technical
remarks, there will not be time for attendees to

make audio-visual presentations during the meeting. Additionally, NHTSA
may not be able to accommodate all attendees who wish to make oral
remarks. NHTSA will conduct the public meeting informally, and
technical rules of evidence will not apply. We will arrange for a
written transcript of the meeting. You may make arrangements for copies
of the transcripts directly with the court reporter. The transcript
will also be posted in the docket when it becomes available.
    Should it be necessary to cancel the meeting due to inclement
weather or other emergency, NHTSA will take all available measures to
notify registered participants.

Draft Meeting Agenda

8:00-8:30 a.m.--Arrival/Check-In
8:30-8:45 a.m.--Welcome/Important Notices/Format
8:45-9:00 a.m.--NHTSA Leadership Address
9:00-12:00 p.m.--Open Listening Session on Section II: Model State
Policy
12:00-1:00 p.m.--Lunch (on your own)/Arrival/Check-In
1:00-1:35 p.m.--Modern Regulatory Tools--Panel I: Safety Assurance
1:35-2:10 p.m.--Modern Regulatory Tools--Panel II: Pre-Market Approval
2:10-2:45 p.m.--Modern Regulatory Tools--Panel III: Imminent Hazard
Authority
2:45-3:00 p.m.--Break
3:00-3:35 p.m.--Modern Regulatory Tools--Panel IV: Expanded Exemption
Authority
3:35-4:10 p.m.--Modern Regulatory Tools--Panel V: Post Sale Tools to
Regulate Software Changes
4:10-4:45 p.m.--Modern Regulatory Tools--Panel VI: Tools
4:45-5:00 p.m.--Closing Remarks/Adjourn

Morning Session Meeting Topic

    The morning session of the meeting will be an open listening
session and an opportunity for individuals to offer oral remarks on
Section II: Model State Policy of the Federal Automated Vehicles Policy
(the Policy). This section describes the responsibilities of both the
Federal and State governments in regards to the regulation of HAVs and
recommends policy areas for States to consider for the validation,
testing, and deployment of highly automated vehicles with the goal of
generating a consistent national framework.
    Specifically, commenters are asked to discuss the following topics
at the meeting:

 Content

    The agency seeks comment on the content included within the Model
State Policy:
    Are there any areas within the Model State Policy that need
additional clarification?
    Are there any gaps that you have identified in the Model State
Policy?
    What barriers or challenges do you foresee that might hinder the
ability for implementation of the guidance?

 The Federal and State Roles

    The agency seeks comment on the Federal and State Roles portion of
the Model State Policy. Does the Policy clearly identify the
appropriate roles and division of regulatory responsibilities for motor
vehicle operations between Federal and State authorities?

 Application for Manufacturers or Other Entities To Test HAVs
on Public Roadways

    The agency seeks comment on the amount and type of information that
a jurisdiction would deem appropriate to receive from NHTSA that would
identify that each vehicle used for testing by manufacturers or other
entities follows the Performance Guidance set forth by NHTSA and meets
all applicable Federal Motor Vehicle Safety Standards?

 Liability and Insurance

    States are responsible for determining liability rules for HAVs.
For example, if a HAV is determined to be at fault in a crash then who
should be held liable? For Insurance, States need to determine who
(owner, operator, passenger, manufacturer, etc.) must carry motor
vehicle insurance. What additional insurance and liability issues have
States identified? Would it be desirable for NHTSA to create a
commission to study such and make recommendations to the States?

Afternoon Session Meeting Topic

    The afternoon session of the meeting provides an opportunity for
invited individuals to comment on Section IV: Modern Regulatory Tools.
This session will consist of six moderated panels. The panels will run
approximately 35 minutes and be guided by questions appropriate for the
topics at hand: Panel I: Safety Assurance, Panel II: Pre-Market
Approval Authority, Panel III: Imminent Hazard Authority, Panel IV:
Expanded Exemption Authority for HAVs, Panel V: Post-Sale Tools To
Regulate Software Changes, and Panel VI: Tools. This section identifies
potential new regulatory tools and statutory authorities that may aid
the safe and efficient deployment of new lifesaving technologies.

Nathaniel Beuse,
Associate Administrator for Vehicle Safety Research.
[FR Doc. 2016-28628 Filed 11-28-16; 8:45 am]
 BILLING CODE 4910-59-P


[Federal Register Volume 77, Number 193 (Thursday, October 4, 2012)]
[Proposed Rules]
[Pages 60655-60658]
[FR Doc No: 2012-24404]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. FAA-2012-1038; Directorate Identifier 2011-NM-166-AD]
RIN 2120-AA64

Airworthiness Directives; Airbus Airplanes

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice of proposed rulemaking (NPRM).

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SUMMARY: We propose to supersede an existing airworthiness directive
(AD) that applies to certain Airbus Model A319 and A320 airplanes. The
existing AD currently requires repetitive detailed inspections to
detect cracks in the keel beam side panels, and repair if

necessary. Since we issued that AD, we have received reports of access
difficulties. Additionally, we have determined that the detailed
inspection is not sufficient to mitigate the unsafe condition. This
proposed AD would require repetitive eddy current inspections for
cracking in the keel beam side panels, and corrective actions if
necessary. We are proposing this AD to detect and correct fatigue
cracks on the side panels of the keel beams, which could result in
reduced structural integrity of the airplane.

DATES: We must receive comments on this proposed AD by November 19,
2012.

ADDRESSES: You may send comments by any of the following methods:
     Federal eRulemaking Portal: Go to http://www.regulations.gov. Follow the instructions for submitting comments.
     Fax:<PHONE_NUMBER>.
     Mail: U.S. Department of Transportation, Docket
Operations, M-30, West Building Ground Floor, Room W12-140, 1200 New
Jersey Avenue SE., Washington, DC 20590.
     Hand Delivery: U.S. Department of Transportation, Docket
Operations, M-30, West Building Ground Floor, Room W12-140, 1200 New
Jersey Avenue SE., Washington, DC, between 9 a.m. and 5 p.m., Monday
through Friday, except Federal holidays.
    For service information identified in this proposed AD, contact
Airbus, Airworthiness Office--EAS, 1 Rond Point Maurice Bellonte, 31707
Blagnac Cedex, France; telephone +33 5 61 93 36 96; fax +33 5 61 93 44
51; email<EMAIL_ADDRESS>Internet http://www.airbus.com. You may review copies of the referenced service
information at the FAA, Transport Airplane Directorate, 1601 Lind
Avenue SW., Renton, WA. For information on the availability of this
material at the FAA, call<PHONE_NUMBER>.

Examining the AD Docket

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

FOR FURTHER INFORMATION CONTACT: Sanjay Ralhan, Aerospace Engineer,
International Branch, ANM-116, Transport Airplane Directorate, FAA,
1601 Lind Avenue SW., Renton, WA 98057-3356; telephone<PHONE_NUMBER>;
fax<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Comments Invited

    We invite you to send any written relevant data, views, or
arguments about this proposed AD. Send your comments to an address
listed under the ADDRESSES section. Include ``Docket No. FAA-2012-1038;
Directorate Identifier 2011-NM-166-AD'' at the beginning of your
comments. We specifically invite comments on the overall regulatory,
economic, environmental, and energy aspects of this proposed AD. We
will consider all comments received by the closing date and may amend
this proposed AD based on those comments.
    We will post all comments we receive, without change, to http://www.regulations.gov, including any personal information you provide. We
will also post a report summarizing each substantive verbal contact we
receive about this proposed AD.

Discussion

    On June 16, 2004, we issued AD 2004-13-06, Amendment 39-13688 (69
FR 38818, June 29, 2004). That AD required actions intended to address
an unsafe condition on the products listed above.
    Since we issued AD 2004-13-06, Amendment 39-13688 (69 FR 38818,
June 29, 2004), we have determined that the detailed inspection
required by AD 2004-13-06 is not sufficient to mitigate the unsafe
condition. The European Aviation Safety Agency (EASA), which is the
Technical Agent for the Member States of the European Community, has
issued EASA Airworthiness Directive 2011-0134, dated July 15, 2011
(referred to after this as ``the MCAI''), to correct an unsafe
condition for the specified products. The MCAI states:

    During certification structural fatigue tests, several cases of
structural damage (cracks) have been found on keel beam side panels.
Cracks were observed on both sides of the keel beam around the
rivets below the center wing box between frame (FR) 40 and FR 42,
and in part of the area of the upper elliptical cut out forward of
FR 41.
    This type of damage, if not detected and repaired, would
adversely affect the structural integrity of the aeroplane.
    To address this unsafe condition, DGAC [Direction
G[eacute]n[eacute]rale de l'Aviation Civile] France issued AD 2003-
146 [which corresponds to FAA AD 2004-13-06, Amendment 39-13688 (69
FR 38818, June 29, 2004)] to require repetitive detailed inspections
of those two areas and corrective actions, depending on findings.
    Prompted by reported access difficulties and to allow extension
of the interval between two consecutive inspections, Airbus
validated an Eddy current Non-Destructive Test (NDT) inspection to
replace the detailed inspection.
    For the reasons described above, this [EASA] AD, which
supersedes DGAC France AD 2003-146, requires repetitive Eddy-current
NDT inspections for cracks in the affected areas of the keel beam
side panel below the center wing box and corrective actions
[repair], depending on findings.

You may obtain further information by examining the MCAI in the AD
docket.

Relevant Service Information

    Airbus has issued Mandatory Service Bulletin A320-53-1060, Revision
02, dated November 30, 2010. The actions described in this service
information are intended to correct the unsafe condition identified in
the MCAI.

FAA's Determination and Requirements of This Proposed AD

    This product has been approved by the aviation authority of another
country, and is approved for operation in the United States. Pursuant
to our bilateral agreement with the State of Design Authority, we have
been notified of the unsafe condition described in the MCAI and service
information referenced above. We are proposing this AD because we
evaluated all pertinent information and determined an unsafe condition
exists and is likely to exist or develop on other products of the same
type design.

Differences Between This AD and the MCAI or Service Information

    Although the MCAI and Airbus Mandatory Service Bulletin A320-53-
1060, Revision 02, dated November 30, 2010, allow further flight after
cracks are found during compliance with the proposed actions, this
proposed AD would require repair before further flight if cracks are
detected in the keel beam side panels. We have determined that, because
of the safety implications and consequences associated with that
cracking, any cracking in the keel beam side panels must be repaired
before further flight.

Costs of Compliance

    Based on the service information, we estimate that this proposed AD
would affect about 351 products of U.S. registry.
    We estimate that it would take about 29 work-hours per product to
comply with the new basic requirements of this proposed AD. The average
labor rate is $85 per work-hour. Based on these figures, we estimate
the cost of the proposed AD on U.S. operators to be $865,215, or $2,465
per product.

    We have received no definitive data that would enable us to provide
cost estimates for the on-condition actions specified in this proposed
AD. We have no way of determining the number of products that may need
these actions.

Authority for This Rulemaking

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

Regulatory Findings

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

List of Subjects in 14 CFR Part 39

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

The Proposed Amendment

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

PART 39--AIRWORTHINESS DIRECTIVES

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

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

Sec.  39.13  [Amended]

    2. The FAA amends Sec.  39.13 by removing airworthiness directive
(AD) 2004-13-06, Amendment 39-13688 (69 FR 38818, June 29, 2004), and
adding the following new AD:

Airbus: Docket No. FAA-2012-1038; Directorate Identifier 2011-NM-
166-AD.

(a) Comments Due Date

    We must receive comments by November 19, 2012.

(b) Affected ADs

    This AD supersedes AD 2004-13-06, Amendment 39-13688 (69 FR
38818, June 29, 2004).

(c) Applicability

    This AD applies to Airbus Model A319-111, -112, -113, -114, -
115, -131, -132, and -133 airplanes; and Model A320-111, -211, -212,
-214, -231, -232, and -233 airplanes; certificated in any category;
all manufacturer serial numbers, except those having embodied Airbus
modification 30355 in production.

(d) Subject

    Air Transport Association (ATA) of America Code 53, Fuselage.

(e) Reason

    This AD was prompted by reports of cracks on the side panels of
the keel beams. We are issuing this AD to detect and correct fatigue
cracks on the side panels of the keel beams, which could result in
reduced structural integrity of the airplane.

(f) Compliance

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

(g) Repetitive Eddy Current Inspection

    At the applicable compliance time in paragraph (k)(1) or (k)(2)
of this AD: Do an eddy current non-destructive test (NDT) inspection
to detect cracks in the keel beam side panels at Area A and Area B,
in accordance with the Accomplishment Instructions of Airbus
Mandatory Service Bulletin A320-53-1060, Revision 02, dated November
30, 2010. Repeat the inspection thereafter at intervals not to
exceed 12,000 flight cycles or 26,700 flight hours, whichever occurs
first. Area A is part of the area of the upper elliptical cut-out
stringer (STGR) 42 on the left-hand (LH) and right-hand (RH) side
forward of Frame (FR) 41, and Area B is the area around the rivets
on both sides of the keel beam side panel below the center wing box
at STGR 42 on the LH and RH side between FR 40 and FR 42.
    (1) For airplanes that have been inspected as specified in
Airworthiness Limitations Item (ALI) Task 533142-01-1, which was
specified in the Airbus A319/A320/A321 ALI document up to Revision
05 inclusive; or as specified in Airbus A319/A320/A321 Maintenance
Review Board (MRB) Report up to Revision 08 inclusive; or as
specified in the instructions of Airbus Service Bulletin A320-53-
1060, dated June 19, 2002, or Revision 01, dated April 2, 2004: At
the later of the times specified in paragraphs (g)(1)(i) and
(g)(1)(ii) of this AD.
    (i) Within 4,300 flight cycles or 9,600 flight hours after the
last inspection, whichever occurs first.
    (ii) Within 30 days after the effective date of this AD.
    (2) For airplanes other than those identified in paragraph
(g)(1) of this AD: At the later of the times specified in paragraphs
(g)(2)(i) and (g)(2)(ii) of this AD.
    (i) Prior to the accumulation of 24,200 total flight cycles, or
48,400 total flight hours, whichever occurs first.
    (ii) Within 30 days after the effective date of this AD.

(h) Corrective Action for Cracking

    (1) If any crack is found in Area A during any inspection
required by paragraph (g) of this AD: Before further flight, repair
the affected area, in accordance with the Accomplishment
Instructions of Airbus Mandatory Service Bulletin A320-53-1060,
Revision 02, dated November 30, 2010. Accomplishing a repair
terminates the repetitive inspections of Area A required by
paragraph (g) of this AD for that side of the keel beam.
    (2) If any crack is found in Area B during any inspection
required by this AD: Before further flight, repair the affected area
in accordance with a method approved by either the Manager,
International Branch, ANM-116, Transport Airplane Directorate, FAA;
or the European Aviation Safety Agency (EASA) (or its delegated
agent).

(i) Other FAA AD Provisions

    The following provisions also apply to this AD:
    (1) Alternative Methods of Compliance (AMOCs): The Manager,
International Branch, 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 local Flight Standards District Office, as appropriate.
If sending information directly to the International Branch, send it
to ATTN: Sanjay Ralhan, Aerospace Engineer, International Branch,
ANM-116, Transport Airplane Directorate, FAA, 1601 Lind Avenue SW.,
Renton, WA 98057-3356; telephone<PHONE_NUMBER>; fax<PHONE_NUMBER>.
Information may be emailed to<EMAIL_ADDRESS>
Before using any approved AMOC, notify your appropriate principal
inspector, or lacking a principal inspector, the manager of the
local flight standards district office/certificate holding district
office. The AMOC approval letter must specifically reference this
AD.
    (2) Airworthy Product: For any requirement in this AD to obtain
corrective actions from

a manufacturer or other source, use these actions if they are FAA-
approved. Corrective actions are considered FAA-approved if they are
approved by the State of Design Authority (or their delegated
agent). You are required to assure the product is airworthy before
it is returned to service.

(j) Special Flight Permits

    Special flight permits may be issued in accordance with sections
21.197 and 21.199 of the Federal Aviation Regulations (14 CFR 21.197
and 21.199) to operate the airplane to a location where the airplane
can be repaired (if the operator elects to do so), provided the
conditions in paragraph (n)(1), (n)(2), or (n)(3) of this AD are
met. Areas A and B are defined in Airbus Mandatory Service Bulletin
A320-53-1060, Revision 02, dated November 30, 2010.
    (1) No multiple cracks in Area A.
    (2) If there is a single crack in Area A, the length must be
less than 20.0 millimeters (0.79 inch).
    (3) No cracking in Area B.

(k) Related Information

    (1) Refer to MCAI EASA Airworthiness Directive 2011-0134, dated
July 15, 2011; and Airbus Mandatory Service Bulletin A320-53-1060,
Revision 02, dated November 30, 2010; for related information.
    (2) For service information identified in this AD, contact
Airbus, Airworthiness Office--EAS, 1 Rond Point Maurice Bellonte,
31707 Blagnac Cedex, France; telephone +33 5 61 93 36 96; fax +33 5
61 93 44 51; email<EMAIL_ADDRESS>Internet http://www.airbus.com. You may review copies of the referenced service
information at the FAA, Transport Airplane Directorate, 1601 Lind
Avenue SW., Renton, WA. For information on the availability of this
material at the FAA, call<PHONE_NUMBER>.

    Issued in Renton, Washington, on September 26, 2012.
Ali Bahrami,
Manager, Transport Airplane Directorate, Aircraft Certification
Service.
[FR Doc. 2012-24404 Filed 10-3-12; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 77, Number 85 (Wednesday, May 2, 2012)]
[Notices]
[Page 26001]
[FR Doc No: 2012-10537]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. EL12-60-000]

Southwest Power Pool; Western Area Power Administration; Basin
Electric Cooperative; Heartland Consumers Power District; Notice of
Petition for Declaratory Order

    Take notice that on April 24, 2012, pursuant to section 207(a)(2)
of the Federal Energy Regulatory Commission's (Commission) Rules of
Practice and Procedure, 18 CFR 385.207, Southwest Power Pool (SPP),
Western Area Power Administration (Western), Basin Electric Power
Cooperative (Basin Electric), and Heartland Consumers Power District
(Heartland), jointly submitted a petition requesting the Commission to
issue a declaratory order confirming: (1) Midwest Independent System
Operator, Inc. (MISO) is obligated by the terms of the Congestion
Management Process contained in a Joint Operating Agreement (JOA)
between SPP and MISO to respect the Reciprocal Coordinated Flowgates
(RCF) of a third party that has executed a Reciprocal Coordination
Agreement with SPP; (2) the SPP-Western JOA is a Reciprocal
Coordination Agreement under the MISO-SPP JOA; and (3) MISO is
obligated by the MISO-SPP JOA to respect the Integrated System of
Western, Basin Electric, and Heartland RCFs.
    Any person desiring to intervene or to protest this filing must
file in accordance with Rules 211 and 214 of the Commission's Rules of
Practice and Procedure (18 CFR 385.211, 385.214). Protests will be
considered by the Commission in determining the appropriate action to
be taken, but will not serve to make protestants parties to the
proceeding. Any person wishing to become a party must file a notice of
intervention or motion to intervene, as appropriate. Such notices,
motions, or protests must be filed on or before the comment date. On or
before the comment date, it is not necessary to serve motions to
intervene or protests on persons other than the Applicant.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper using the ``eFiling'' link at http://www.ferc.gov. Persons unable to file electronically should submit an
original and 14 copies of the protest or intervention to the Federal
Energy Regulatory Commission, 888 First Street NE., Washington, DC
20426.
    This filing is accessible online at http://www.ferc.gov, using the
``eLibrary'' link and is available for review in the Commission's
Public Reference Room in Washington, DC. There is an ``eSubscription''
link on the Web site that enables subscribers to receive email
notification when a document is added to a subscribed docket(s). For
assistance with any FERC Online service, please email
<EMAIL_ADDRESS>or call<PHONE_NUMBER> (toll free). For
TTY, call<PHONE_NUMBER>.
    Comment Date: 5:00 p.m. Eastern Time on May 24, 2012.

    Dated: April 25, 2012.
Kimberly D. Bose,
Secretary.
[FR Doc. 2012-10537 Filed 5-1-12; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 84, Number 164 (Friday, August 23, 2019)]
[Notices]
[Pages 44341-44343]
[FR Doc No: 2019-18167]

=======================================================================
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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-86706; File No. SR-FINRA-2019-019]

Self-Regulatory Organizations; Financial Industry Regulatory
Authority, Inc.; Order Approving Proposed Rule Change To Expand OTC
Equity Trading Volume Data Published on FINRA's Website

August 19, 2019.

I. Introduction

    On July 1, 2019, the Financial Industry Regulatory Authority, Inc.
(``FINRA'') filed with the Securities and Exchange Commission
(``Commission''), pursuant to Section 19(b)(1) of the Securities
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a
proposed rule change to amend FINRA Rules 6110 and 6610 to expand the
summary firm data relating to over-the-counter (``OTC'') equity trading
that FINRA publishes on its website. The proposed rule change was
published for comment in the Federal Register on July 11, 2019.\3\ The
Commission received two comment letters in support of the proposed rule
change.\4\ This order approves the proposed rule change.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 86315 (July 5,
2019), 84 FR 33098 (July 11, 2019) (``Notice'').
    \4\ See letters to Vanessa Countryman, Secretary, Commission
from: Ray Ross, Chief Technology Officer, Clearpool Group
(``Clearpool''), dated August 1, 2019 (``Clearpool Letter'');
Stephen John Berger, Managing Director, Global Head of Government &
Regulatory Policy, Citadel Securities (``Citadel''), dated August 1,
2019 (``Citadel Letter'').
---------------------------------------------------------------------------

II. Description of the Proposal

    Currently, FINRA publishes certain volume information for OTC
transactions in NMS stocks \5\ and OTC Equity Securities,\6\ that are
executed outside of an alternative trading system (``ATS'').\7\ All
published data is derived directly from OTC transactions reported to a
FINRA equity trade reporting facility. FINRA does not charge a fee for
this data.\8\
---------------------------------------------------------------------------

    \5\ ``NMS stock'' is defined in Rule 600(b)(47) of the
Commission's Regulation NMS. See 17 CFR 242.600(b)(47).
    \6\ ``OTC Equity Security'' means any equity security that is
not an NMS stock, other than a Restricted Equity Security. See FINRA
Rule 6420(f). A ``Restricted Equity Security'' means any equity
security that meets the definition of ``restricted security'' as
contained in Securities Act Rule 144(a)(3). See FINRA Rule 6420(k);
17 CFR 230.144(a)(3).
    \7\ FINRA Rules 6110(b) and 6610(b) govern the publication of
information for OTC transactions executed outside of an ATS (``non-
ATS'' volume data or information). FINRA Rules 6110(c) and 6610(c)
separately govern the publication of trading information for OTC
transactions executed on ATSs.
    \8\ OTC transaction volume data published pursuant to FINRA
Rules 6110 and 6610 is available at https://otctransparency.finra.org/otctransparency/.
---------------------------------------------------------------------------

    Currently, FINRA publishes weekly non-ATS OTC volume information
(number of trades and shares) by firm and by security on a two-week or
four-week delayed basis. Weekly security-specific information for
transactions in NMS stocks in Tier 1 of the NMS Plan to Address
Extraordinary Market Volatility (``Tier 1 NMS stocks'') is published on
a two-week delayed basis, while information on the remaining NMS stocks
(``Tier 2 NMS stocks'') and OTC Equity Securities is published on a
four-week delayed basis. FINRA also publishes aggregate weekly non-ATS
volume totals by firm and category of security (Tier 1 NMS stocks, Tier
2 NMS stocks, and OTC Equity Securities) on the same timeframes, as
well as aggregate non-ATS volume totals by firm for all NMS stocks and
OTC Equity Securities, for each calendar month on a one-month delayed
basis.\9\ All data is published by firm on an attributed basis \10\
except that, for firms executing fewer than 200 non-ATS transactions
per day on average during the reporting period,\11\ FINRA combines and
publishes the volume for these firms on an aggregate non-attributed
basis identified in the published data as ``De Minimis Firms.'' \12\
---------------------------------------------------------------------------

    \9\ Monthly aggregated data are categorized by NMS stocks and
OTC Equity Securities, i.e., there is no differentiation between
Tier 1 NMS stocks and Tier 2 NMS stocks.
    \10\ Non-ATS data is published at the firm level, aggregating
each market participant identifier (``MPID'') used by a particular
firm (but excluding any MPIDs used by a firm to report trades
executed on its ATS).
    \11\ For a firm with multiple non-ATS MPIDs, the total volume
across all its MPIDs is combined for purposes of determining whether
the de minimis threshold has been met.
    \12\ There is no parallel de minimis exception for ATS
transactions under FINRA Rules 6110(c) and 6610(c). Therefore, all
ATS volume data is currently published on an attributed basis.
---------------------------------------------------------------------------

    FINRA has proposed to expand, in two ways, the summary firm data
relating to non-ATS OTC equity trading that FINRA publishes on its
website. First, FINRA would publish new

monthly aggregate block-size trading data for non-ATS OTC trades in NMS
stocks, on the same terms as FINRA currently publishes aggregate block-
size trading data for trades in NMS stocks occurring on ATSs. Second,
FINRA would eliminate the current de minimis exception for publication
of aggregate non-ATS trading volume across all NMS stocks and OTC
Equity Securities, and publish each firm's aggregate non-ATS volume on
an attributed basis. Each component of the proposed rule change is
addressed below.

Non-ATS Block-Size Trading Data

    Pursuant to its Rule 6110(c)(2), FINRA currently publishes monthly
information on block-size trades in all NMS stocks occurring on ATSs.
Data regarding block-size trades on ATSs is aggregated across all NMS
stocks (i.e., there is no security-by-security block data), are for a
time period of one month of trading, and are published no earlier than
one month following the end of the month for which trading was
aggregated.
    FINRA currently publishes information on block-size ATS trades in
NMS stocks using share-based thresholds, dollar-based thresholds, and
thresholds that include both shares and dollar amount as follows:
     10,000 or more shares;
     $200,000 or more in dollar value;
     10,000 or more shares and $200,000 or more in dollar
value;
     2,000 to 9,999 shares;
     $100,000 to $199,999 in dollar value; and
     2,000 to 9,999 shares and $100,000 to $199,999 in dollar
value.\13\
---------------------------------------------------------------------------

    \13\ See FINRA Regulatory Notice 16-14 (April 2016) (Alternative
Trading Systems).
---------------------------------------------------------------------------

    For each of these categories, FINRA publishes monthly trade count
and volume information for each ATS, on an attributed basis, aggregated
across all NMS stocks with no differentiation between Tier 1 NMS stocks
and Tier 2 NMS stocks. FINRA also calculates and displays the average
trade size and each ATS's rank as well as ``ATS Block Market Share''
(i.e., the proportion of each ATS's block-size trading volume in
relation to total block-size trading by all ATSs) and ``ATS Block
Business Share'' (i.e., the proportion of a particular ATS's overall
trading volume that was done as block-size trades) and rankings of
those metrics for each of the above categories.\14\
---------------------------------------------------------------------------

    \14\ ATS block-size data can be viewed at https://otctransparency.finra.org/otctransparency/AtsBlocks. The data may
also be directly downloaded through the OTC Transparency Data web
page, https://otctransparency.finra.org/otctransparency/AtsBlocksDownload.
---------------------------------------------------------------------------

    FINRA has proposed to expand the block-size trading data that it
publishes on its website to include monthly aggregate block-size
trading data for all OTC trades in NMS stocks, regardless of whether
they are ATS or non-ATS trades.\15\ The new block-size data for non-ATS
OTC trades would be published on the same terms as block-size data is
currently published for ATS trades, and FINRA would not charge a fee
for the new data. Specifically, proposed paragraph (b)(3) of FINRA Rule
6110 provides that non-ATS block-size data would be published in
aggregate across all NMS stocks (i.e., there would be no security-by-
security block data), would be for a time period of one month of
trading, and would be published no earlier than one month following the
end of the month for which trading was aggregated. All published data
would be derived directly from OTC trades reported to a FINRA trade
reporting facility and would not create any new requirements for FINRA
members.
---------------------------------------------------------------------------

    \15\ In developing its proposal to publish non-ATS block-size
data, FINRA discussed the initiative with a number of its industry
advisory committees, informally consulted a number of firms, and
solicited written comment. FINRA stated that firms were generally
supportive of publishing non-ATS block-size data, which would
provide enhanced transparency into the OTC market as a complement to
the currently published ATS block-size data. See Notice, 84 FR at
33099. FINRA also stated that several firms raised potential
information leakage concerns involved with publishing new block-size
data, but indicated that such concerns would be mitigated by
publishing data on an aggregated basis, rather than security-by-
security, and by delaying publication. See id.
---------------------------------------------------------------------------

    Pursuant to proposed FINRA Rule 6110(b)(3), FINRA would publish the
new non-ATS block-size data with elements to be determined from time to
time by FINRA in its discretion, as stated in a Regulatory Notice or
other equivalent publication. As with current block-size data regarding
ATS OTC trades, non-ATS block-size data will be published using the
same share-based, dollar-based, and combination share- and dollar-based
thresholds used for ATS block-size data, as described above. For each
category, FINRA would publish monthly trade count and volume
information for each firm, on an attributed basis, aggregated across
all NMS stocks with no differentiation between Tier 1 NMS stocks and
Tier 2 NMS stocks.\16\ Each firm that engages in block-size non-ATS
trading of NMS stocks would be separately identified, i.e., FINRA is
not proposing any de minimis exception for non-ATS block-size data.
FINRA also would calculate and display the average trade size and each
firm's rank as well as ``Firm Block Market Share'' (i.e., the
proportion of each firm's block-size trading volume in relation to
total block-size trading by all firms) and ``Firm Block Business
Share'' (i.e., the proportion of a particular firm's overall trading
volume that was done as block-size trades) and rankings of those
metrics for each of the above categories.\17\
---------------------------------------------------------------------------

    \16\ FINRA has not proposed at this time to publish non-ATS
block-size data for trading in OTC Equity Securities. In the Notice,
FINRA stated that it will continue to assess whether block-size
trading data should be expanded to include trades in OTC Equity
Securities or a subset thereof. See Notice, 84 FR at 33099, n. 15.
    \17\ In the Notice, FINRA stated that it will announce any
changes to these elements in advance in a Regulatory Notice or
similar publication.
---------------------------------------------------------------------------

Elimination of the De Minimis Exception

    FINRA has proposed to eliminate the current de minimis exception
for publication of aggregate non-ATS OTC trading volume, and instead
publish on an attributed basis each firm's aggregate non-ATS OTC volume
(number of trades and shares) on a weekly or monthly basis, as
applicable.\18\
---------------------------------------------------------------------------

    \18\ However, FINRA has not proposed to eliminate the de minimis
exception for purposes of the security-specific non-ATS OTC volume
data under FINRA Rules 6110(b)(2)(C) and 6610(b)(2)(C). Therefore,
if a firm averages fewer than 200 non-ATS OTC transactions per day
in a given security during the reporting period, FINRA would
continue to aggregate the firm's volume in that security with that
of similarly situated firms, and there would continue to be a De
Minimis Firms category for published security-by-security volume
data.
---------------------------------------------------------------------------

    FINRA also proposed several other technical, non-substantive, and
conforming changes to the current rule text.\19\
---------------------------------------------------------------------------

    \19\ FINRA proposed to amend Rules 6110(b)(1)(A) and (B) and
6610(b)(1)(A) to clarify that those provisions apply to the
publication of aggregate weekly trading information, which will
conform to language in current Rules 6110(c) and 6610(c). FINRA
further proposed to amend Rules 6110(b)(2)(B) and 6610(b)(2)(B) (as
re-designated by the proposed rule change) to clarify that the
remaining de minimis exceptions under those provisions apply to
trading information by security. Finally, FINRA proposed to amend
the final sentence of Rule 6610(b)(3) to correct the cross-reference
to the definition of ``ATS Trading Information.''
---------------------------------------------------------------------------

    FINRA has stated that it will announce the effective date of the
proposed rule change in a Regulatory Notice following a Commission
approval, and the effective date of the proposed rule change will be no
earlier than October 1, 2019, and no later than March 31, 2020.\20\
FINRA anticipates that it will begin publication of data in accordance
with the proposed rule change in the fourth quarter of 2019.\21\
---------------------------------------------------------------------------

    \20\ See Notice, 84 FR at 33100.
    \21\ See id.

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

III. Discussion and Commission Findings

    After careful consideration, the Commission finds that the proposed
rule change is consistent with the requirements of the Act and the
rules and regulations thereunder applicable to a national securities
association.\22\ In particular, the Commission finds that the proposed
rule change is consistent with Section 15A(b)(6) of the Act,\23\ which
requires, among other things, that FINRA rules be designed to prevent
fraudulent and manipulative acts and practices, to promote just and
equitable principles of trade, and, in general, to protect investors
and the public interest.
---------------------------------------------------------------------------

    \22\ In approving this proposal, the Commission has considered
the proposed rule's impact on efficiency, competition, and capital
formation. See 15 U.S.C. 78c(f).
    \23\ 15 U.S.C. 78o-3(b)(6).
---------------------------------------------------------------------------

    The Commission previously found that the earliest iteration of
FINRA's publication protocols for ATS OTC trade data were consistent
with the Act.\24\ Several commenters on that initial proposal urged
FINRA to broaden its publication protocols to include non-ATS OTC
trading centers, not only ATSs. FINRA responded that ``it considered
various alternatives and concluded that ATS trade information was an
appropriate first step toward increased transparency in the off-
exchange OTC market. FINRA stated further that it would consider
additional steps, including those suggested by the commenters, in the
future.'' \25\
---------------------------------------------------------------------------

    \24\ See Securities Exchange Act Release No. 71341 (January 17,
2014), 79 FR 4213, 4217 (January 24, 2014) (Order Approving SR-
FINRA-2013-042). FINRA subsequently expanded the scope of the ATS
OTC trade data that it publishes on its website. See Securities
Exchange Act Release No. 76931 (January 19, 2016), 81 FR 4076
(January 25, 2016) (SR-FINRA-2016-002) (immediate effectiveness of
proposed rule change relating to ATS volume and trading
information).
    \25\ Order Approving SR-FINRA-2013-042, 79 FR at 4215 (citation
omitted).
---------------------------------------------------------------------------

    Subsequently, in 2015, FINRA proposed to expand transparency of OTC
equity trading data by publishing certain information regarding non-ATS
OTC trading.\26\ At that time, however, FINRA did not believe that
publishing volume information for each firm that executed only a small
number of trades or shares in any given period would provide meaningful
information to the marketplace.\27\ Therefore, FINRA proposed to
combine volume from all members that did not meet a specified minimum
threshold and publish such information for those members on an
aggregated basis.\28\ The Commission approved the proposed rule change
because publishing this data, even though not to the same degree of
granularity as ATS OTC trade data, would facilitate better
understanding of the OTC equity market.\29\
---------------------------------------------------------------------------

    \26\ See Securities Exchange Act Release No. 75356 (July 2,
2015), 80 FR 39463 (July 9, 2015) (Notice of SR-FINRA-2015-020).
    \27\ See id., 80 FR at 39464.
    \28\ See id.
    \29\ See Securities Exchange Act Release No. 76078 (October 5,
2015), 80 FR 61246, 61247-49 (October 9, 2015) (Order Approving SR-
FINRA-2015-020).
---------------------------------------------------------------------------

    FINRA is now proposing to apply to non-ATS OTC trade data more of
the publication protocols that it currently applies to ATS OTC trade
data. Specifically, FINRA will publish new monthly aggregate block-size
trading data for non-ATS OTC trades in NMS stocks, on the same terms as
FINRA currently publishes aggregate block-size trading data for ATS
trades in NMS stocks. Second, FINRA will eliminate the de minimis
exception for publication of aggregate non-ATS trading volume across
all NMS stocks and OTC Equity Securities, and publish each firm's
aggregate non-ATS volume on an attributed basis. The Commission
believes that the proposal will enhance transparency in the OTC equity
market by making additional trading volume data available on FINRA's
website in a manner reasonably designed to avoid adverse market impact,
and without imposing any new requirements, on FINRA members. Therefore,
the Commission finds that the proposal is consistent with the Act and
the rules and regulations thereunder applicable to a national
securities association. The Commission notes that it received no
comments objecting to the proposal.\30\
---------------------------------------------------------------------------

    \30\ Two commenters generally supported the proposal while
suggesting ways to further expand publication of non-ATS OTC trade
data. Clearpool suggested that FINRA eliminate the de minimis
exception for purposes of the security-specific non-ATS volume data
as well as separately identifying a firm's volume of trading on a
single-dealer platform. See Clearpool Letter at 2. Citadel suggested
that FINRA separate the monthly aggregate block-size trading data
into ETF and non-ETF categories to maximize the granularity and
utility of the data. See Citadel Letter at 1. In response to these
comments, FINRA stated that it ``continue[s] to consider further
enhancements to the OTC volume information published on our website
and we would consider these suggestions as part of potential future
changes, but we would not plan to include them in this filing.''
Email to David Michehl, Special Counsel, Commission, from Robert
McNamee, Assistant General Counsel, FINRA (dated August 8, 2019).
---------------------------------------------------------------------------

IV. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\31\ that the proposed rule change (SR-FINRA-2019-019) is approved.
---------------------------------------------------------------------------

    \31\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\32\
---------------------------------------------------------------------------

    \32\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-18167 Filed 8-22-19; 8:45 am]
BILLING CODE 8011-01-P