[Federal Register Volume 84, Number 41 (Friday, March 1, 2019)]
[Notices]
[Pages 7156-7159]
[FR Doc No: 2019-03624]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-85186; File No. SR-NYSE-2019-06]

Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Enhance the Content of the NYSE Trades Market Data Product Offering

February 25, 2019.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (``Act''),\2\ and Rule 19b-4 thereunder,\3\ notice is hereby given
that on February 13, 2019, New York Stock Exchange LLC (``NYSE'' or the
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I and
II, below, which Items have been prepared by the Exchange. The
Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to enhance the content of the NYSE Trades
market data product offering. The Exchange does not proposes [sic] to
amend the fees related to NYSE Trades. The

proposed rule change is available on the Exchange's website at
www.nyse.com, at the principal office of the Exchange, and at the
Commission's Public Reference Room.

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

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

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

1. Purpose
    The Exchange proposes to enhance the content of the NYSE Trades
market data feed product offering. The Exchange does not propose to
amend the fees for the NYSE Trades feed.
    NYSE Trades is an NYSE-only last-sale market data feed. NYSE Trades
currently allows vendors, broker-dealers and others to make available
on a real-time basis the same last sale information that the Exchange
reports under the Consolidated Tape Association (``CTA'') Plan and the
UTP Plan for inclusion in the their respective consolidated data
streams. Specifically, the NYSE Trades feed includes, for each security
traded on the Exchange, the real-time last sale price, time and size
information and a stock summary message. The stock summary message
updates every minute and includes NYSE's opening price, high price, low
price, closing price, and cumulative volume for the security.\4\
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    \4\ See Securities Exchange Act Release Nos. 59309 (January 28,
2009), 74 FR 6073 (February 4, 2009) (SR-NYSE-2009-04), 69272 (April
2, 2013), 78 FR 20983 (April 8, 2013) (SR-NYSE-2013-23), 70066 (July
30, 2013), 78 FR 47474 (August 5, 2013) (SR-NYSE-2013-53), and 76599
(December 9, 2015), 80 FR 77676 (December 15, 2015) (SR-NYSE-2015-
65).
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    The Exchange proposes to enhance the content of the NYSE Trades
feed by including information for trades reported to the FINRA/NYSE
Trade Reporting Facility (``TRF''). The FINRA/NYSE TRF data
disseminated via the NYSE Trades feed would include the same real-time
last sale price, time and size information for each trade reported to
the FINRA/NYSE TRF that the FINRA/NYSE TRF reports under the CTA Plan
and UTP Plan for inclusion in their respective consolidated data
streams.\5\ The FINRA/NYSE TRF data would also identify whether the
trade was reported to the TRF on a T+1 basis. Unlike for securities
traded on the Exchange, the FINRA/NYSE TRF data would not include a
stock summary message, which relates to exchange-specific activity
only. FINRA/NYSE TRF trades would clearly be denoted as such in the
NYSE Trades feed to ensure that they are not mistaken for trades
executed on the Exchange.
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    \5\ The Exchange would make FINRA/NYSE TRF data available
through its NYSE Trades Feed no earlier than it makes that
information available to the responsible securities information
processor.
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    With this proposed rule change, FINRA/NYSE TRF data disseminated
via the NYSE Trades feed would also be included as part of the NYSE BQT
data feed.\6\ The NYSE BQT data feed provides a unified view of best
bid and offer (``BBO'') and last sale information for the Exchange and
its affiliates, NYSE Arca, Inc. (``NYSE Arca''), NYSE National, Inc.
(``NYSE National''), and NYSE American LLC (``NYSE American'') and
consists of data elements from eight existing market data feeds: NYSE
Trades, NYSE BBO,\7\ NYSE Arca Trades,\8\ NYSE Arca BBO,\9\ NYSE
National BBO,\10\ NYSE National Trades,\11\ NYSE American Trades \12\
and NYSE American BBO.\13\ The NYSE BQT data feed would, therefore,
include the FINRA/NYSE TRF data as part of the data it receives via the
NYSE Trades market data feed. The Exchange does not propose to amend
the fees for the NYSE BQT data feed.
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    \6\ See Securities Exchange Act Release Nos. 73553 (November 6,
2014), 79 FR 67491 (November 13, 2014) (SR-NYSE-2014-40) (Notice of
Amendment No. 1 and Order Granting Accelerated Approval to a
Proposed Rule Change, as Modified by Amendment No. 1, To Establish
the NYSE Best Quote and Trades Data Feed); and 83359 (June 1, 2018),
83 FR 26507 (June 7, 2018) (SR-NYSE-2018-22).
    \7\ See Securities Exchange Act Release No. 62181 (May 26,
2010), 75 FR 31488 (June 3, 2010) (SR-NYSE-2010-30).
    \8\ See Securities Exchange Act Release Nos. 59289 (Jan. 23,
2009), 74 FR 5711 (Jan. 30, 2009) (SR-NYSEArca-2009-06); and 59598
(Mar. 18, 2009), 74 FR 12919 (Mar. 25, 2009) (SR-NYSEArca-2009-05).
    \9\ See Securities Exchange Act Release No. 62188 (May 27,
2010), 75 FR 31484 (June 3, 2010) (SR-NYSEArca-2010-23).
    \10\ See Securities Exchange Act Release No. 83350 (May 31,
2018), 83 FR 26335 (June 6, 2018) (SR-NYSENat-2018-09).
    \11\ Id.
    \12\ See Securities Exchange Act Release No. 62187 (May 27,
2010), 75 FR 31500 (June 3, 2010) (SR-NYSEAmex-2010-35).
    \13\ See Securities Exchange Act Release No. 62187 (May 27,
2010), 75 FR 31500 (June 3, 2010) (SR-NYSEAmex-2010-35).
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    The Exchange proposes to implement the proposed rule change on
April 29, 2019.\14\
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    \14\ The implementation of this proposed rule change is
contingent on FINRA filing a proposed rule change with the
Commission to amend its rules to account for the dissemination of
FINRA/NYSE TRF data via the NYSE Trades and BQT data feeds.
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2. Statutory Basis
    The proposed rule change is consistent with Section 6(b) \15\ of
the Act, in general, and furthers the objectives of Section 6(b)(5)
\16\ of the Act, in particular, in that it is designed to prevent
fraudulent and manipulative acts and practices, to promote just and
equitable principles of trade, to foster cooperation and coordination
with persons engaged in facilitating transactions in securities, to
remove impediments to and perfect the mechanism of a free and open
market and a national market system and, in general, to protect
investors and the public interest, and it is not designed to permit
unfair discrimination among customers, brokers, or dealers.
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    \15\ 15 U.S.C. 78f(b).
    \16\ 15 U.S.C. 78f(b)(5).
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    The Exchange believes the proposal would facilitate transactions in
securities, remove impediments to and perfect the mechanism of a free
and open market and a national market system by providing market
participants an additional means to access information about
transactions reported to the FINRA/NYSE TRF. The proposal would improve
the content included in the NYSE Trades feed and provide investors with
an additional option for accessing information that may help to inform
their trading decisions. The inclusion of FINRA/NYSE TRF data in the
NYSE Trades feed is also consistent with the content of at least two
data feeds offered by the NASDAQ Stock Market LLC (``NASDAQ''), both of
which similarly include last sale information for trades reported to
the FINRA/NASDAQ TRF.\17\
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    \17\ See NASDAQ Rule 7047(a)(1) (stating that NASDAQ Basic
``shall contain NASDAQ's best bid and offer and last sale for
NASDAQ-listed stocks from NASDAQ and the FINRA/NASDAQ TRF''). See
also NASDAQ Rule 7039(a) (stating that ``NASDAQ Last Sale comprises
two proprietary data feeds containing real-time last sale
Information for trades executed on NASDAQ or reported to the FINRA/
NASDAQ Trade Reporting Facility'').
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    In adopting Regulation NMS, the Commission granted self-regulatory
organizations and broker-dealers increased authority and flexibility to
offer new and unique market data to consumers of such data. It was
believed that this authority would expand the amount of data available
to users and consumers of such data and also spur innovation and
competition for the

provision of market data. The Exchange believes that the data product
modification proposed herein, the inclusion of trades reported to the
FINRA/NYSE TRF, is precisely the sort of market data product
enhancement that the Commission envisioned when it adopted Regulation
NMS. The Commission concluded that Regulation NMS--by lessening
regulation of the market in proprietary data--would itself further the
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Act's goals of facilitating efficiency and competition:

    [E]fficiency is promoted when broker-dealers who do not need the
data beyond the prices, sizes, market center identifications of the
NBBO and consolidated last sale information are not required to
receive (and pay for) such data. The Commission also believes that
efficiency is promoted when broker-dealers may choose to receive
(and pay for) additional market data based on their own internal
analysis of the need for such data.\18\
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    \18\ See Securities Exchange Act Release No. 51808 (June 9,
2005), 70 FR 37496 (June 29, 2005) (File No. S7-10-04).

    By removing ``unnecessary regulatory restrictions'' on the ability
of exchanges to sell their own data, Regulation NMS advanced the goals
of the Act and the principles reflected in its legislative history.
    The Exchange further notes that the existence of alternatives to
the Exchange's products, including real-time consolidated data, free
delayed consolidated data, and proprietary data from other sources,
such as from NASDAQ,\19\ ensures that the Exchange is not unreasonably
discriminatory because vendors and subscribers can elect these
alternatives.
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    \19\ See supra note 17.
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    Lastly, the proposal would not permit unfair discrimination because
the enhanced product would be available to all of the Exchange's
vendors and customers on an equivalent basis with no change in price.

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

    The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. Rather, the proposal would
enhance competition by enabling the Exchange to better compete with
NASDAQ, which offers similar products that include data for trades
reported to the FINRA/NASDAQ TRF.\20\
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    \20\ Id.
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    The market for proprietary data products is currently competitive
and inherently contestable because there is fierce competition for the
inputs necessary to the creation of proprietary data. Numerous
exchanges compete with each other for listings, trades, and market data
itself, providing virtually limitless opportunities for entrepreneurs
who wish to produce and distribute their own market data. This
proprietary data is produced by each individual exchange, as well as
other entities (such as internalizing broker-dealers and various forms
of alternative trading systems, including dark pools and electronic
communication networks), in a vigorously competitive market. It is
common for market participants to further and exploit this competition
by sending their order flow and transaction reports to multiple
markets, rather than providing them all to a single market.

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

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

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

    The Exchange has filed the proposed rule change pursuant to Section
19(b)(3)(A)(iii) of the Act \21\ and Rule 19b-4(f)(6) thereunder.\22\
Because the proposed rule change does not: (i) Significantly affect the
protection of investors or the public interest; (ii) impose any
significant burden on competition; and (iii) become operative prior to
30 days from the date on which it was filed, or such shorter time as
the Commission may designate, if consistent with the protection of
investors and the public interest, the proposed rule change has become
effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-
4(f)(6)(iii) thereunder.
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    \21\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \22\ 17 CFR 240.19b-4(f)(6).
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    A proposed rule change filed under Rule 19b-4(f)(6) \23\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b4(f)(6)(iii),\24\ the Commission
may designate a shorter time if such action is consistent with the
protection of investors and the public interest.
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    \23\ 17 CFR 240.19b-4(f)(6).
    \24\ 17 CFR 240.19b-4(f)(6)(iii).
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    At any time within 60 days of the filing of such proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings under
Section 19(b)(2)(B) \25\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
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    \25\ 15 U.S.C. 78s(b)(2)(B).
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IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-NYSE-2019-06 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NYSE-2019-06. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549, on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of the filing also will be available for inspection
and copying at the principal office of the Exchange. All comments
received will be posted without change. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly. All

submissions should refer to File Number SR-NYSE-2019-06 and should be
submitted on or before March 22, 2019.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\26\
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    \26\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-03624 Filed 2-28-19; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 83, Number 72 (Friday, April 13, 2018)]
[Notices]
[Page 16087]
[FR Doc No: 2018-07690]

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ENVIRONMENTAL PROTECTION AGENCY

[ER-FRL-9038-6]

Environmental Impact Statements; Notice of Availability

    Responsible Agency: Office of Federal Activities, General
Information<PHONE_NUMBER> or https://www2.epa.gov/nepa.

Weekly receipt of Environmental Impact Statements
Filed 04/02/2018 Through 04/06/2018
Pursuant to 40 CFR 1506.9.

Notice

    Section 309(a) of the Clean Air Act requires that EPA make public
its comments on EISs issued by other Federal agencies. EPA's comment
letters on EISs are available at: https://cdxnodengn.epa.gov/cdx-nepa-public/action/eis/search.

    EIS No. 20180058, Final, USFS, WI, Townsend Project, Review Period
Ends: 05/14/2018, Contact: Marilee Houtler<PHONE_NUMBER>
    EIS No. 20180059, Final, WAPA, CO, Estes to Flatiron Transmission
Lines Rebuild Project Larimer County, Colorado Final Environmental
Impact Statement (DOE/EIS-0483), Review Period Ends: 05/14/2018,
Contact: Mark Wieringa<PHONE_NUMBER>
    EIS No. 20180060, Draft, USFS, CA, Tahoe National Forest Over-snow
Vehicle Use Designation, Comment Period Ends: 05/29/2018, Contact: Joe
Chavez<PHONE_NUMBER>
    EIS No. 20180061, Final, USFS, OR, Trout Creek, Review Period Ends:
05/29/2018, Contact: Joan Schmidgall<PHONE_NUMBER>
    EIS No. 20180062, Draft, NPS, CO, Great Sand Dunes National Park
and Preserve Draft Ungulate Management Plan and EIS, Comment Period
Ends: 05/31/2018, Contact: Tucker Blythe<PHONE_NUMBER>
    EIS No. 20180063, Draft Supplement, BR, WA, Kachess Drought Relief
Pumping Plant and Keechelus Reservoir-to-Kachess Reservoir Conveyance
(KDRPP/KKC) Projects Supplemental Draft Environmental Impact Statement,
Kittitas and Yakima Counties, Washington, Comment Period Ends: 07/11/
2018, Contact: Candace McKinley<PHONE_NUMBER> ext. 603

    Dated: April 9, 2018.
Kelly Knight,
Director, NEPA Compliance Division, Office of Federal Activities.
[FR Doc. 2018-07690 Filed 4-12-18; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register Volume 83, Number 49 (Tuesday, March 13, 2018)]
[Rules and Regulations]
[Pages 10785-10786]
[FR Doc No: 2018-04966]

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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 117

[Docket No. USCG-2018-0067]

Drawbridge Operation Regulation; Duwamish Waterway, Seattle, WA

AGENCY: Coast Guard, DHS.

ACTION: Notice of temporary deviation from regulations; request for
comments.

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SUMMARY: The Coast Guard has issued a temporary deviation from the
operating schedule that governs the South Park highway bridge, across
the Duwamish Waterway mile 3.8, at Seattle, WA. This deviation will
test a change to the drawbridge operation schedule, to determine
whether a permanent change to the schedule is appropriate. This
deviation will allow the bridge to open during nighttime hours after
receiving a 12 hour advance notice.

DATES: This deviation is effective from 6 a.m. on March 22, 2018 to 6
a.m. on September 17, 2018.
    Comments and related material must reach the Coast Guard on or
before August 30, 2018.

ADDRESSES: You may submit comments identified by docket number USCG-
2018-0067 using Federal eRulemaking Portal at http://www.regulations.gov.
    See the ``Public Participation and Request for Comments'' portion
of the SUPPLEMENTARY INFORMATION section below for instructions on
submitting comments.

FOR FURTHER INFORMATION CONTACT: If you have questions on this
temporary deviation, call or email Mr. Steven Fischer, Bridge Chief
Administrator, Thirteenth Coast Guard District; telephone<PHONE_NUMBER>,
email [email protected].

SUPPLEMENTARY INFORMATION:

I. Background, Purpose and Legal Basis

    Due to infrequent drawbridge opening requests between 11 p.m. to 7
a.m., King County (the bridge owner), has requested to open the South
Park highway bridge with 12 hours advances notice between the hours of
11p.m. and 7 a.m. In addition, King County requested between the hours
of 11 p.m. and 7 a.m. vessels engaged in sea-trials or waterway
dredging activities may request a standby drawtender, to open the
bridge on demand during sea-trials and/or dredging operations, if at
least a 24 hour notice is given to the drawtender. The 2017 drawbridge
log book reflects the infrequent requests for drawbridge opening of the
South Park highway bridge. Of the 524 openings in 2017 only 24 occurred
between the hours of 11.00 p.m. and 7 a.m., this is approximately 4.5
percent. Opening from 11 p.m. to 7 a.m. for 2014, 2015, 2016 ranged
from 5% to 10% of all openings. The South Park highway bridge operates
per 33 CFR 117.1041(a)(2).
    Vessels operating on the Duwamish Waterway range from small
recreational, sailboats, tribal fishing boats, mega yachts and
commercial tug and tow vessels. No navigational impacts are expected
due to few vessels operating on this waterway at the stated hours. King
County has discussed this test deviation and coordinating with all
known waterway users. Vessels able to pass through the subject bridge
with the span in the closed-to-navigation position may do so at any
time.
    The Coast Guard will also inform the users of the waterway through
our Local and Broadcast Notices to Mariners of the change in operating
schedule for the subject bridge so that vessel operators can arrange
their transits to minimize any impact caused by the temporary
deviation. Duwamish Waterway does not have an immediate alternate route
for vessels to pass. Therefore, in the event of an emergency requiring
a bridge opening any day between 11 p.m. and 7 a.m., the standby bridge
operator at the Fremont Bridge will respond to an opening request and
have the South Park Bridge open within 45 minutes from initial
notification.
    In accordance with 33 CFR 117.35(e), the drawbridge must return to
its regular operating schedule immediately at the end of the effective
period of this temporary deviation. This deviation

from the operating regulations is authorized under 33 CFR 117.35.

II. Public Participation and Request for Comments

    We view public participation as essential to effective rulemaking,
and will consider all comments and material received during the comment
period. Your comment can help shape the outcome of this rulemaking. If
you submit a comment, please include the docket number for this
rulemaking, indicate the specific section of this document to which
each comment applies, and provide a reason for each suggestion or
recommendation.
    We encourage you to submit comments through the Federal eRulemaking
Portal at http://www.regulations.gov. If your material cannot be
submitted using http://www.regulations.gov, contact the person in the
FOR FURTHER INFORMATION CONTACT section of this document for alternate
instructions.
    We accept anonymous comments. All comments received will be posted
without change to http://www.regulations.gov and will include any
personal information you have provided. For more about privacy and the
docket, visit http://www.regulations.gov/privacynotice.
    Documents mentioned in this notice as being available in the docket
and all public comments, will be in our online docket at http://www.regulations.gov, and can be viewed by following that website's
instructions. Additionally, if you go to the online docket and sign up
for email alerts, you will be notified when comments are posted or a
final rule is published.

    Dated: March 7, 2018.
Steven M. Fischer,
Bridge Administrator, Thirteenth Coast Guard District.
[FR Doc. 2018-04966 Filed 3-12-18; 8:45 am]
 BILLING CODE 9110-04-P


Draft Amendments for the Manufacturer-Run, Heavy-Duty Engine In-Use
Testing Program

For the reasons set out in the preamble, title 40, chapter I of the Code
of Federal Regulations is amended as follows:

PART 86—CONTROL OF EMISSIONS FROM NEW AND IN-USE HIGHWAY VEHICLES AND
ENGINES

1.	Section 86.1912 is amended by adding new paragraphs (a)(3)(v) and
(a)(5) and revising paragraph (a)(4) to read as follows:

§86.1912  How do I determine whether an engine meets the vehicle-pass
criteria?

*		  * 			*		  *		  *

 (a) *   *   *

	(3) *   *   *

		(v)  NOx + NMHC: 0.47 grams per brake horsepower–hour.

	(4) Accuracy margins for portable in-use equipment when testing is not
performed under the special provisions of §86.1930 for engines families
that are selected for testing in calendar year 2009 or earlier are as
follows:

		(i) NMHC using the emission calculation method specified in 40 CFR
1065.650(a)(1):  0.02 grams per brake horsepower-hour.

		(ii) NMHC using the emission calculation method specified in 40 CFR
1065.650(a)(3):  0.01 grams per brake horsepower-hour.

		(iii) NMHC using an alternative emission calculation method as
approved by the Administrator under 40 CFR 1065.915(d)(5)(iv):  0.01
grams per brake horsepower-hour.

		(iv) CO using the emission calculation method specified in 40 CFR
1065.650(a)(1):  0.5 grams per brake horsepower-hour.

		(v) CO using the emission calculation method specified in 40 CFR
1065.650(a)(3):  0.34 grams per brake horsepower-hour.

		(vi) CO using an alternative emission calculation method as approved
by the Administrator under 40 CFR 1065.915(d)(5)(iv):  0.34 grams per
brake horsepower-hour.

		(vii) NOx using the emission calculation method specified in 40 CFR
1065.650(a)(1):  0.45 grams per brake horsepower-hour.

		(viii) NOx using the emission calculation method specified in 40 CFR
1065.650(a)(3):  0.20 grams per brake horsepower-hour.

		(ix) NOx using an alternative emission calculation method as approved
by the Administrator under 40 CFR 1065.915(d)(5)(iv):  0.20 grams per
brake horsepower-hour.

		(x) NOx + NMHC using the emission calculation method specified in 40
CFR 1065.650(a)(1):  0.47 grams per brake horsepower-hour.

		(xi) NOx + NMHC using the emission calculation method specified in 40
CFR 1065.650(a)(3):  0.21 grams per brake horsepower-hour.

		(xii) NOx + NMHC using an alternative emission calculation method as
approved by the Administrator under 40 CFR 1065.915(d)(5)(iv):  0.21
grams per brake horsepower-hour.

		(xiii) PM:  To be determined by rulemaking as indicated in §86.1935.

	(5) Accuracy margins for portable in-use equipment when testing is not
performed under the special provisions of §86.1930 for engines families
that are selected for testing in calendar year 2010 or later are as
follows:

		(i) NMHC using any emission calculation method specified in 40 CFR
1065.650(a) or an alternative emission calculation method as approved by
the Administrator under 40 CFR 1065.915(d)(5)(iv):  0.01 grams per brake
horsepower-hour.

		(ii) CO using any emission calculation method specified in 40 CFR
1065.650(a) or an alternative emission calculation method as approved by
the Administrator under 40 CFR 1065.915(d)(5)(iv):  0.34 grams per brake
horsepower-hour.

		(iii) NOx using any emission calculation method specified in 40 CFR
1065.650(a) or an alternative emission calculation method as approved by
the Administrator under 40 CFR 1065.915(d)(5)(iv):  0.20 grams per brake
horsepower-hour.

		(iv) PM: To be determined by rulemaking as indicated in §86.1935.

  * 			*		  *		  *

2.	Section 86.1930 is amended by revising the title and the introductory
paragraph to read as follows:

§86.1930  What special provisions apply from 2005 through 2008?

	We may direct you to test engines under this subpart for emissions
other than PM in 2005 and 2006, and for PM emissions in 2007 and 2008.
In those interim periods, all the provisions of this subpart apply, with
the following exceptions:

*		  * 			*		  *		  *

3.	Section 86.1935 is amended to read as follows:

§86.1935  What special provisions may apply as a consequence of a delay
in the accuracy margin report for portable emission measurement systems?
tc "86.1935 What special provisions may apply as a consequence of a
delay in the accuracy margin  report for portable emission measurement
systems?"

(a) A memorandum entitled, “Memorandum of Agreement, Program to
Develop Emission Measurement Accuracy Margins for Heavy-Duty In-Use
Testing” describes a test program for establishing measurement
accuracy margins related to testing under §86.1912(a)(4) which will be
used for testing under this subpart.  This document is available at
http://www.epa.gov/otaq/hd-hwy.htm or at the mailing address specified
in §86.1905(g).

(b) If there is a delay in receiving the written final report for PM
emissions described in the agreement referenced in paragraph (a) of this
section, and that delay is not attributable to engine manufacturers
failing to meet their commitments under that agreement, the following
provisions apply:

(1) If the delay is 3 months or less, we will delay the designation of
engine families for testing in the applicable calendar year, as
described in §86.1905(d), by the same number of additional whole months
(rounded up) needed to complete the report.

(2) If the delay is more than 3 months but less than 12 months, we may
continue to designate engine families for testing under the special
provisions described in §86.1930 for an additional year.

(3) If the delay is longer than 12 months, the following approach is
established for the applicable calendar year:

(i) If the delay is longer than 12 months but less than 15 months, we
will follow the steps described in paragraph (b)(1) of this section.

(ii) If the delay is longer than 15 months, but, less than 24 months, we
will follow the steps described in paragraph (b)(2) of this section, for
the applicable calendar year.

(iii) If the delay is longer than 24 months, the emission testing
program will go into abeyance.

(c) If one or more engine manufacturers fail to meet commitments under
the agreement described in paragraph (a) of this section and such a
failure results in a delay in the final written report for PM emissions
described in the agreement, the following provisions apply:

(1) If the delay is 3 months or less, we will delay the designation of
engine families for testing in the applicable calendar year, as
described in §86.1905(d), by the same number of additional whole months
(rounded up) needed to complete the report.

(2) If the delay is more than 3 months but less than 12 months, the
provisions of this subpart will not apply for the otherwise applicable
calendar year, subject to the following provisions:

(i) We may identify the number of engine families that would otherwise
have been designated for testing in that calendar year for the delayed
pollutant type and direct manufacturers to test that number of engine
families under the special provisions described in §86.1930 and
additionally in any later calendar year once the provisions of this
subpart begin for that pollutant type, without counting those
accumulated engine families toward the allowable annual cap on the
number of engine families specified in §86.1905.

(ii) The normal 18-month period for testing and reporting results
specified in §86.1905(d) is extended to 24 months for any accumulated
engine-family designation described in paragraph (c)(2)(i) of this
section. The additional time extensions for testing and reporting
results as specified in §86.1905(d) also apply

(3) If the delay is longer than 12 months, the following approach is
established for the applicable calendar year.

(i) If the delay is longer than 12 months but less than 15 months, we
will follow the steps described in paragraph (c)(1) of this section.

(ii) If the delay is longer than 15 months, but less than 24 months, we
will follow the steps described in paragraph(c) (2) of this section for
the applicable calendar year.

(iii) If the delay is longer than 24 months, we will continue to follow
the steps described in paragraphs (c)(1) and (c)(2) of this section,
including the accumulation of engine families for testing until the
report is received and the fully implemented  program commences.

(d) We may determine that any individual manufacturer’s failure under
paragraph (c) of this section constitutes a failure by all engine
manufacturers.

(e) Nothing in this section affects our ability to select engines from
any model year beginning with model year 2007.

(f) If we determine that fundamental technical problems with portable
in-use PM measurement systems are not resolvable in a reasonable time,
the provisions of this subpart, as they apply to PM, will go into
abeyance until we determine that suitable emission-measurement devices
are available for in-use testing.

(g) Engine manufacturers contributing to the test programs described in
the agreement referenced in paragraph (a) of this section may limit
their testing under the special provisions described in §86.1930 to
five engines in each selected engine family.

Do Not Cite or Quote
                      	August 20, 2007

  PAGE   1


[Federal Register Volume 84, Number 172 (Thursday, September 5, 2019)]
[Notices]
[Pages 46775-46776]
[FR Doc No: 2019-19105]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

Notice of Availability of the Federal Aviation Administration
Record of Decision and Adoption of the Portions Specific to the Battle
Area Complex Restricted Area R-2201 (BAX R-2201) and the Expand
Restricted Area R-2205, Including the Digital Multi-Purpose Training
Range (DMPTR R-2205), of the Final Environmental Impact Statement for
Modernization and Enhancement of Ranges, Airspace, and Training Areas
in the Joint Pacific Alaska Range Complex in Alaska

AGENCY: Federal Aviation Administration, DOT.

ACTION: Notice of record of decision.

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

SUMMARY: The Federal Aviation Administration (FAA) announces its
decision to adopt the portions specific to the BAX R-2201 and DMPTR R-
2205 of the United States Departments of the Army (Army) and Air
Force's (USAF) Final Environmental Impact Statement (EIS) for the
Modernization and Enhancement of Ranges, Airspace, and Training Areas
in the Joint Pacific Alaska Range Complex (JPARC) in Alaska, EIS No.
20130181. In accordance with Section 102 of the National Environmental
Policy Act of 1969 (``NEPA''), the Council on Environmental Quality's
(``CEQ'') regulations implementing NEPA, and other applicable
authorities, including The Federal Aviation Administration (FAA) Order
1050.1F, Environmental Impacts: Policies and Procedures, paragraph 8-2,
and FAA Order JO 7400.2M, ``Procedures for Handling Airspace Matters,''
paragraph 32-2-3, the FAA has conducted an independent review and
evaluation of the Army and the USAF's Final EIS for Modernization and
Enhancement of Ranges, Airspace, and Training Areas in the JPARC in
Alaska, dated June 2013. As a cooperating agency with responsibility
for approving special use airspace (SUA), the FAA provided subject
matter expertise and coordinated with the USAF and Army during the
environmental review process, including preparation of the Draft EIS
and the Final EIS. Based on its independent review and evaluation, the
FAA has determined the Final EIS, including its supporting
documentation, as incorporated by reference, and other supporting
documentation incorporated by reference for FAA's Written Re-Evaluation
and Adoption of the Final EIS adequately assesses and discloses

the environmental impacts of the for Modernization and Enhancement of
Ranges, Airspace, and Training Areas in the JPARC in Alaska. FAA is
authorized to adopt the Final EIS, Adoption. Accordingly, the FAA
adopts the Final EIS, and takes full responsibility for the scope and
content that addresses the proposed changes to SUA for JPARC.

FOR FURTHER INFORMATION CONTACT: Paula Miller, Airspace Policy and
Regulations Group, Office of Airspace Services, Federal Aviation
Administration, 800 Independence Avenue SW, Washington, DC 20591;
email<EMAIL_ADDRESS>telephone:<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Background

    In March 2012, in accordance with NEPA and its implementing
regulations, the USAF and Army released a Draft EIS. The Draft EIS
presented the potential environmental consequences of the USAF and
Army's proposal to modernize and enhance JPARC ranges by analyzing the
military training activities at JPARC, Alaska. As a result of the FAA
aeronautical review process, and public, agency, and tribal comments
during the 111-day public comment period on the Draft EIS, the USAF,
FAA, other federal and state agencies, and tribal governments have
consulted to mitigate concerns while continuing to meet national
defense training requirements. The USAF and Army are the proponents for
the JPARC Modernization and were the lead agencies for the preparation
of the Final EIS, which was issued in June 2013. The FAA is a
cooperating agency responsible for approving SUA as defined in 40 CFR
1508.5.
    The FAA has independently evaluated the JPARC Final EIS and the
accompanying SUA proposals. FAA previously issued a Record of Decision
(ROD) for the USAF SUA proposals because they were ripe for a decision
while the Army SUA proposals are currently still undergoing
aeronautical processing and development. The Army SUA proposals are now
ripe for a decision; therefore, the scope and extent of FAA's ROD is
only for the Army SUA proposals.
    The USAF and Army issued one ROD. The ROD lists the Army and USAF
actions and decisions separately. The ROD includes an Army Decision,
signed July 30, 2013, and an USAF Decision signed August 6, 2013. The
Army selected the preferred alternatives for BAX R-2201, DMPTR R-2205,
and Unmanned Aerial Vehicle (UAV) Access. The Army/USAF ROD also lists
mitigation measures by agency and specific action. The FAA has
coordinated with the Army on UAV Access on an alternative solution of
implementing Certificates of Authorization, since the activity does not
qualify for a restricted area.

Implementation

    After evaluating the public comments received, the aeronautical
studies, and the environmental analysis, the FAA is establishing BAX R-
2201and expanding DMPTR R-2205. On March 6, 2017, the FAA published a
notice of proposed rulemaking (NPRM) proposing to establish BAX R-2201
in the Federal Register (82 FR 12529). In response to public comments
expressing concerns over the impact to general aviation aircraft, the
FAA subsequently published a Supplemental NPRM in the Federal Register
on January 11, 2018 (83 FR 1316), that would reduce the overall size of
the proposed BAX R-2201 by 50 percent. On March 6, 2019, the FAA
published a NRPM (82 FR 12526) to expand DMPTR R-2205. Minor changes to
reduce the size of R-2205 were made from what was analyzed in the FEIS
to improve aviation safety and reduce the burden on non-participating
traffic to help civil pilots remain well clear of hazardous activities
while following the river during VFR flights and to avoid the Alaska
Pipeline.
    FAA. The August 29, 2019 Written Re-Evaluation/Adoption/ROD is
available on the FAA website and can be viewed at https://www.faa.gov/air_traffic/environmental_issues/.

Right of Appeal

    The Written Re-evaluation, Adoption, and ROD for the changes to the
JPARC MOAs constitutes a final order of the FAA Administrator and is
subject to exclusive judicial review under 49 U.S.C. 46110 by the U.S.
Circuit Court of Appeals for the District of Columbia or the U.S.
Circuit Court of Appeals for the circuit in which the person contesting
the decision resides or has its principal place of business. Any party
having substantial interest in this order may apply for review of the
decision by filing a petition for review in the appropriate U.S. Court
of Appeals no later than 60 days after the date of this notice in
accordance with the provisions of 49 U.S.C. 46110.

    Issued in Des Moines, WA, on August 26, 2019.
B.G. Chew,
Acting Manager, Operations Support Group, Western Service Center,
Federal Aviation Administration.
[FR Doc. 2019-19105 Filed 9-4-19; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register: March 16, 2006 (Volume 71, Number 51)]
[Notices]
[Page 13637-13638]
[DOCID:fr16mr06-82]

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DEPARTMENT OF LABOR

Occupational Safety and Health Administration

[Docket No. ICR-1218-0070(2006)]

Reports of Injuries to Employees Operating Mechanical Power
Presses; Extension of the Office of Management and Budget's (OMB)
Approval of an Information Collection (Paperwork) Requirement

AGENCY: Occupational Safety and Health Administration (OSHA), Labor.

ACTION:  Request for public comment.

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

SUMMARY: OSHA solicits public comment concerning its request for an
extension of the information collection requirement specified in its
provision on Reports of Injuries to Employees Operating Mechanical
Power Presses (29 CFR 1910.217(g)). This provision is contained in this
Agency's Standard on Mechanical Power Presses (29 CFR part 1910).\1\
---------------------------------------------------------------------------

    \1\ The Agency has additional collections of information with
different OMB Control Numbers in its Standard on Mechanical Power
Presses (e.g., Inspection, maintenance, and modification of presses
(29 CFR 1910.217(e)(1)(i) and (ii)) (OMB Control No. 1218-0229) and
Presence sensing device initiation (PSDI) (29 CFR 1910.217(h)) (OMB
Control No. 1218-0143)).

DATES: Comments must be submitted by the following dates:
    Hard copy: Your comments must be submitted (postmarked or received)
by May 15, 2006.
    Facsimile and electronic transmission: Your comments must be
received by May 15, 2006.

ADDRESSES: You may submit comments, identified by OSHA Docket No. ICR-
1218-0070(2006), by any of the following methods:
    Regular mail, express delivery, hand delivery, and messenger
service: Submit your comments and attachments to the OSHA Docket
Office, Room N-2625, U.S. Department of Labor, 200 Constitution Avenue,
NW., Washington, DC 20210; telephone<PHONE_NUMBER> (OSHA's TTY number
is<PHONE_NUMBER>). OSHA Docket Office and Department of Labor hours
are 8:15 a.m. to 4:45 p.m., e.t.
    Facsimile: If your comments are 10 pages or fewer in length,
including attachments, you may fax them to the OSHA Docket Office at
(202) 693-1648.
    Electronic: You may submit comments through the Internet at http://comments.osha.gov.
 Follow instruction on the OSHA Webpage for

submitting comments.
    Docket: For access to the docket to read or download comments or
background materials, such as the complete Information Collection
Request (ICR) (containing the Supporting Statement, OMB-83-I Form, and
attachments), go to OSHA's Webpage at http://www.OSHA.gov. In addition,

the ICR, comments, and submissions are available for inspection and
copying at the OSHA Docket Office at the address above. You may also
contact Theda Kenney at the address below to obtain a copy of the ICR.
For additional information on submitting comments, please see the
``Public Participation'' heading in the SUPPLEMENTARY INFORMATION
section of this document.

FOR FURTHER INFORMATION CONTACT: Theda Kenney or Todd Owen, Directorate
of Standards and Guidance, OSHA, Room N-3609, 200 Constitution Avenue,
NW., Washington, DC 20210, telephone:<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

I. Background

    The Department of Labor, as part of its continuing effort to reduce
paperwork and respondent (i.e., employer) burden, conducts a
preclearance consultation program to provide the public with an
opportunity to comment on proposed and continuing information
collection requirements in accordance with the Paperwork Reduction Act
of 1995 (PRA-95) (44 U.S.C. 3506(c)(2)(A)). This program ensures that
information is in the desired format, reporting burden (time and costs)
is minimal, collection instruments are clearly understood, and OSHA's
estimate of the information collection burden is accurate. The
Occupational Safety and Health Act of 1970 (the Act) (29 U.S.C. 651 et
seq.) authorizes information collection by employers as necessary or
appropriate for enforcement of the Act or for developing information
regarding the causes and prevention of occupational injuries,
illnesses, and accidents (29 U.S.C. 657).
    In the event an employee is injured while operating a mechanical
power press, 29 CFR 1910.217(g) requires an employer to provide
information to OSHA regarding the accident within 30 days of the
accident. This information includes the employer's and employee's
names, workplace address, injury sustained, task being performed when
the injury occurred, number of operators involved, cause of the
accident, type of clutch, safeguard(s), and feeding method(s) used, and
means used to actuate the press stroke. OSHA's Directorate of Safety
Standards Programs (currently, the Directorate of Standards and
Guidance) or the State agency administering a plan approved by the
Assistant Secretary of Labor for Occupational Safety and Health
collects the information. These reports are a source of up-to-date
information on power press machines. Particularly, this information
identifies the equipment used and conditions associated with these
injuries.

II. Special Issues for Comment

    OSHA has a particular interest in comments on the following issues:
     Whether the proposed information collection requirement is
necessary for the proper performance of the Agency's functions,
including whether the information is useful;
     The accuracy of OSHA's estimate of the burden (time and
costs) of the information collection requirement, including the
validity of the methodology and assumptions used;
     The quality, utility, and clarity of the information
collected; and
     Ways to minimize the burden on employers who must comply,
for example, by using automated or other technological information
collection and transmission techniques.

III. Proposed Actions

    OSHA is requesting OMB to extend their approval of the collection
of information requirement contained in Reports of Injuries to
Employees Operating Mechanical Power Presses (29 CFR 1910.217(g)). The
Agency is requesting a decrease in burden hours for the existing
collection of information requirement from 25 to 16 (a total reduction
of 9 hours). This decrease is a result of the decline in the number of
injury reports submitted to OSHA annually. The Agency will summarize
the comments submitted in response to this notice, and will include
this summary in its request to OMB.
    Type of Review: Extension of currently approved information
collection requirement.
    Title: Reports in Injuries to Employees Operating Mechanical Power
Presses (29 CFR 1910.217(g)).
    OMB Number: 1218-0070.
    Affected Public: Business or other for-profit; not-for-profit
institutions; Federal Government; State, Local, or Tribal Government.
    Number of Respondents: 49.
    Frequency: On occasion.
    Average Time Per Response: Varies from five minutes (.08 hour) for
a

secretary to prepare an envelope and mail the report to OSHA to 15
minutes (.25 hour) for an employer to obtain information and to prepare
the injury report.
    Estimated Total Burden Hours: 16.
    Estimated Cost (Operation and Maintenance): $0.

IV. Public Participation--Submission of Comments on This Notice and
Internet Access to Comments and Submissions

    You may submit comments and supporting materials in response to
this notice by (1) hard copy, (2) FAX transmission (facsimile), or (3)
electronically through the OSHA Webpage. Because of security-related
problems, there may be a significant delay in the receipt of comments
by regular mail. Please contact the OSHA Docket Office at (202) 693-
2350 (TTY<PHONE_NUMBER>) for information about security procedures
concerning the delivery of submissions by express delivery, hand
delivery, and courier service.
    All comments, submissions, and background documents are available
for inspection and copying at the OSHA Docket Office at the above
address. Comments and submissions posted on OSHA's Webpage are
available at http://www.OSHA.gov.

    Contact the OSHA Docket Office for information about materials not
available through the OSHA Webpage and for assistance using the Webpage
to locate docket submissions.
    Electronic copies of this Federal Register notice as well as other
relevant documents are available on OSHA's Webpage. Since all
submissions become public, private information such as social security
numbers should not be submitted.

V. Authority and Signature

    Jonathan L. Snare, Acting Assistant Secretary of Labor for
Occupational Safety and Health, directed the preparation of this
notice. The authority for this notice is the Paperwork Reduction Act of
1995 (44 U.S.C. 3506 et seq.) and Secretary of Labor's Order No. 5-2002
(67 FR 65008).

    Signed at Washington, DC, on March 13, 2006.
Jonathan L. Snare,
Acting Assistant Secretary of Labor.
[FR Doc. 06-2565 Filed 3-15-06; 8:45 am]

BILLING CODE 4510-26-M


[Federal Register Volume 86, Number 140 (Monday, July 26, 2021)]
[Notices]
[Pages 40059-40061]
[FR Doc No: 2021-15783]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2021-N-0651]

Cellular, Tissue and Gene Therapies Advisory Committee; Notice of
Meeting; Establishment of a Public Docket; Request for Comments

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice; establishment of public docket; request for comments.

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

SUMMARY: The Food and Drug Administration (FDA or Agency) announces a
forthcoming public advisory committee meeting of the Cellular, Tissue
and Gene Therapies Advisory Committee (CTGTAC). The general function of
the committee is to provide advice and recommendations to FDA on
regulatory issues. Matters considered at the meeting will include
discussion of the toxicity risks of adeno-associated virus (AAV)
vector-based gene therapy products. The discussion topics include
oncogenicity risks due to vector genome integration and safety issues
identified during preclinical and/or clinical evaluation. The meeting
will be open to the public on both days. FDA is establishing a docket
for public comment on this document.

DATES: The meeting will be held on September 2 and 3, 2021, from 10
a.m. to 6 p.m. Eastern Time.

ADDRESSES: Please note that due to the impact of the COVID-19 pandemic,
all meeting participants will be joining this advisory committee
meeting via an online teleconferencing platform. Answers to commonly
asked questions about FDA advisory committee meetings may be accessed
at: https://www.fda.gov/advisory-committees/about-advisory-committees/common-questions-and-answers-about-fda-advisory-committee-meetings. The
online web conference meeting will be available at the following links
on the day of the meeting: Day 1 https://youtu.be/58KjL9_p9Tw and Day 2
https://youtu.be/yLggQF0XUUY.
    FDA is establishing a docket for public comment on this meeting.
The docket number is FDA-2021-N-0651. The docket will close on
September 1, 2021. Submit either electronic or written comments on this
public meeting on or before September 1, 2021. Please note that late,
untimely filed comments will not be considered. The https://www.regulations.gov electronic filing system will accept comments until
11:59 p.m. Eastern Time at the end of September 1, 2021. Comments
received by mail/hand delivery/courier (for written/paper submissions)
will be considered timely if they are postmarked or the delivery
service acceptance receipt is on or before that date.
    Comments received on or before August 26, 2021, will be provided to
the committee. Comments received after that date will be taken into
consideration by FDA. In the event that the meeting is cancelled, FDA
will continue to evaluate any relevant applications or information, and
consider any comments submitted to the docket, as appropriate.
    You may submit comments as follows:

Electronic Submissions

    Submit electronic comments in the following way:
     Federal eRulemaking Portal: https://www.regulations.gov.
Follow the instructions for submitting comments. Comments submitted
electronically, including attachments, to https://www.regulations.gov
will be posted to the docket unchanged. Because your comment will be
made public, you are solely responsible for ensuring that your comment
does not include any confidential information that you or a third party
may not wish to be posted, such as medical information, your or anyone
else's Social Security number, or confidential business information,
such as a manufacturing process. Please note that if you include your
name, contact

information, or other information that identifies you in the body of
your comments, that information will be posted on https://www.regulations.gov.
     If you want to submit a comment with confidential
information that you do not wish to be made available to the public,
submit the comment as a written/paper submission and in the manner
detailed (see ``Written/Paper Submissions'' and ``Instructions'').

Written/Paper Submissions

    Submit written/paper submissions as follows:
     Mail/Hand Delivery/Courier (for written/paper
submissions): Dockets Management Staff (HFA-305), Food and Drug
Administration, 5630 Fishers Lane, Rm. 1061, Rockville, MD 20852.
     For written/paper comments submitted to the Dockets
Management Staff, FDA will post your comment, as well as any
attachments, except for information submitted, marked and identified,
as confidential, if submitted as detailed in ``Instructions.''
    Instructions: All submissions received must include the Docket No.
FDA-2021-N-0651 for ``Cellular, Tissue and Gene Therapies Advisory
Committee; Notice of Meeting; Establishment of a Public Docket; Request
for Comments.'' Received comments, those filed in a timely manner (see
ADDRESSES), will be placed in the docket and, except for those
submitted as ``Confidential Submissions,'' publicly viewable at https://www.regulations.gov or at the Dockets Management Staff between 9 a.m.
and 4 p.m., Monday through Friday,<PHONE_NUMBER>.
     Confidential Submissions--To submit a comment with
confidential information that you do not wish to be made publicly
available, submit your comments only as a written/paper submission. You
should submit two copies total. One copy will include the information
you claim to be confidential with a heading or cover note that states
``THIS DOCUMENT CONTAINS CONFIDENTIAL INFORMATION.'' FDA will review
this copy, including the claimed confidential information, in its
consideration of comments. The second copy, which will have the claimed
confidential information redacted/blacked out, will be available for
public viewing and posted on https://www.regulations.gov. Submit both
copies to the Dockets Management Staff. If you do not wish your name
and contact information be made publicly available, you can provide
this information on the cover sheet and not in the body of your
comments and you must identify the information as ``confidential.'' Any
information marked as ``confidential'' will not be disclosed except in
accordance with 21 CFR 10.20 and other applicable disclosure law. For
more information about FDA's posting of comments to public dockets, see
80 FR 56469, September 18, 2015, or access the information at: https://www.govinfo.gov/content/pkg/FR-2015-09-18/pdf/2015-23389.pdf.
    Docket: For access to the docket to read background documents or
the electronic and written/paper comments received, go to https://www.regulations.gov and insert the docket number, found in brackets in
the heading of this document, into the ``Search'' box and follow the
prompts and/or go to the Dockets Management Staff, 5630 Fishers Lane,
Rm. 1061, Rockville, MD 20852,<PHONE_NUMBER>.

FOR FURTHER INFORMATION CONTACT: Jarrod Collier or Joanne Lipkind,
Center for Biologics Evaluation and Research, Food and Drug
Administration, 10903 New Hampshire Ave., Bldg. 71, Rm. 6268, Silver
Spring, MD 20993-0002<EMAIL_ADDRESS>or FDA Advisory Committee
Information Line, 1-800-741-8138<PHONE_NUMBER> in the Washington, DC
area). A notice in the Federal Register about last-minute modifications
that impact a previously announced advisory committee meeting cannot
always be published quickly enough to provide timely notice. Therefore,
before coming to the meeting, you should always check the Agency's
website at https://www.fda.gov/AdvisoryCommittees/default.htm and
scroll down to the appropriate advisory committee meeting link, or call
the advisory committee information line to learn about possible
modifications.

SUPPLEMENTARY INFORMATION:
    Agenda: The meeting presentations will be heard, viewed, captioned,
and recorded through an online teleconferencing platform. The CTGTAC
committee will meet in open session on both days to discuss the
toxicity risks of AAV vector-based gene therapy products. The
discussion topics include oncogenicity risks due to vector genome
integration and safety issues identified during preclinical and/or
clinical evaluation. On September 2, 2021, in the morning, under
session 1, the CTGTAC committee will meet to discuss and make
recommendations on vector integration and oncogenicity risks. In the
afternoon under session 2, the committee will discuss and make
recommendations on hepatotoxicity issues. On September 3, 2021, in the
morning under session 3, the committee will meet to discuss and make
recommendations on thrombotic microangiopathy issues. In the afternoon
under session 4, the committee will discuss and make recommendations on
non-clinical findings of neurotoxicity, especially related to the
dorsal root ganglion toxicity issues. Also, in the afternoon under
session 5, the committee will discuss and make recommendations on
clinical findings of neurotoxicity, based on brain magnetic resonance
imaging studies.
    FDA intends to make background material available to the public no
later than 2 business days before the meeting. If FDA is unable to post
the background material on its website prior to the meeting, the
background material will be made publicly available on FDA's website at
the time of the advisory committee meeting. Background material and the
link to the online teleconference meeting room will be available at
https://www.fda.gov/AdvisoryCommittees/Calendar/default.htm. Scroll
down to the appropriate advisory committee meeting link. The meeting
will include slide presentations with audio components to allow the
presentation of materials in a manner that most closely resembles an
in-person advisory committee meeting.
    Procedure: Interested persons may present data, information, or
views, orally or in writing, on issues pending before the committee.
All electronic and written submissions submitted to the Docket (see
ADDRESSES) on or before August 26, 2021, will be provided to the
committee. Oral presentations from the public will be scheduled twice
each day between approximately 12:45 p.m. and 1:15 p.m. and 4:05 p.m.
and 4:35 p.m. on September 2, and between 11 a.m. and 11:30 a.m. and
1:50 p.m. and 2:20 p.m. on September 3. Individuals interested in
making formal oral presentations should notify the contact person and
submit a brief statement of the general nature of the evidence or
arguments they wish to present, the names and addresses of proposed
participants, and an indication of the approximate time requested to
make their presentation on or before August 18, 2021. Time allotted for
each presentation may be limited. If the number of registrants
requesting to speak is greater than can be reasonably accommodated
during the scheduled open public hearing session, FDA may conduct a
lottery to determine the speakers for the scheduled open public hearing
session. The contact person will notify interested persons regarding
their request to speak by August 19, 2021.
    For press inquiries, please contact the Office of Media Affairs at
<EMAIL_ADDRESS>or<PHONE_NUMBER>.

    FDA welcomes the attendance of the public at its advisory committee
meetings and will make every effort to accommodate persons with
disabilities. If you require accommodations due to a disability, please
contact Jarrod Collier at<EMAIL_ADDRESS>(see FOR FURTHER
INFORMATION CONTACT) at least 7 days in advance of the meeting.
    FDA is committed to the orderly conduct of its advisory committee
meetings. Please visit our website at https://www.fda.gov/advisory-committees/about-advisory-committees/public-conduct-during-fda-advisory-committee-meetings for procedures on public conduct during
advisory committee meetings.
    Notice of this meeting is given under the Federal Advisory
Committee Act (5 U.S.C. app. 2).

    Dated: July 16, 2021.
Lauren K. Roth,
Acting Principal Associate Commissioner for Policy.
[FR Doc. 2021-15783 Filed 7-23-21; 8:45 am]
BILLING CODE 4164-01-P


[Federal Register Volume 79, Number 169 (Tuesday, September 2, 2014)]
[Notices]
[Pages 52086-52089]
[FR Doc No: 2014-20702]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-72920; File No. SR-NASDAQ-2014-084]

Self-Regulatory Organizations; The NASDAQ Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
Relating to NOM Market Maker Requirements

August 26, 2014.
    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 August 21, 2014, The NASDAQ Stock Market LLC (``NASDAQ'' or
``Exchange'') filed with the Securities and Exchange Commission
(``SEC'' or ``Commission'') the proposed rule change as described in
Items I, II, and III below, which Items have been prepared by NASDAQ.
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

    NASDAQ proposes to amend Chapter VII (Market Participants) at
Section 6 (Market Maker Quotations) on The NASDAQ Options Market
(``NOM''), NASDAQ's facility for executing and routing standardized
equity and index options.
    The text of the proposed rule change is set forth below. Proposed
new language is italicized; proposed deletions are in brackets.
* * * * *

Chapter VII Market Participants

* * * * *

Sec. 6 Market Maker Quotations

    (a)-(c) No change.
    (d) Continuous Quotes. A Market Maker must enter continuous bids
and offers for the options to which it is registered, as follows:
    i. On a daily basis, a Market Maker must during regular market
hours make markets consistent with the applicable quoting requirements
specified in these rules, on a continuous basis [in at least sixty
percent (60%) of the series] in options in which the Market Maker is
registered.
    (1) To satisfy this requirement [with respect to quoting a series],
a Market Maker must quote [such series 90]60% of the trading day (as a
percentage of the total number of minutes in such trading day) or such
higher percentage as Nasdaq may announce in advance. Nasdaq Regulation
may consider exceptions to the requirement to quote [90]60% (or higher)
of the trading day based on demonstrated legal or regulatory
requirements or other mitigating circumstances. This obligation will
apply to all of a Market Maker's registered options collectively to all
appointed issues, rather than on an option-by-option basis. Compliance
with this obligation will be determined on a monthly basis. However,
determining compliance with the continuous quoting requirement on a
monthly basis does not relieve a Market Maker of the obligation to
provide continuous two-sided quotes on a daily basis, nor will it
prohibit the Exchange from taking disciplinary action against a Market
Maker for failing to meet the continuous quoting obligation each
trading day.
    (2) and (3) No change.
    ii.-iii. No change.
    (e) No change.
* * * * *

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

    In its filing with the Commission, the Exchange included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. The 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 amend quoting
obligations applicable to NOM Market Makers. Currently, Chapter VII,
Section 6(d) provides that on a daily basis, a Market Maker must during
regular market hours make markets consistent with the applicable
quoting requirements specified in these rules, on a continuous basis in
at least sixty percent (60%) of the series in options in which the
Market Maker is registered. It further provides that, to satisfy this
requirement with respect to quoting a series, a Market Maker must quote
such series 90% of the trading day (as a percentage of the total number
of minutes in such trading day) or such higher percentage

as the Exchange may announce in advance. Nasdaq Regulation may consider
exceptions to the requirement to quote 90% (or higher) of the trading
day based on demonstrated legal or regulatory requirements or other
mitigating circumstances.
    The Exchange proposes to better align its Market Maker quoting
requirement with that of NASDAQ OMX BX, Inc. (``BX''). BX recently
amended its market maker quoting requirements in a similar manner.\3\
Specifically, the Exchange proposes to reduce the quoting requirement
for NOM Market Makers as follows: A Market Maker must quote such
options 60% of the trading day (as a percentage of the total number of
minutes in such trading day) or such higher percentage as NOM may
announce in advance. Nasdaq Regulation may consider exceptions to the
requirement to quote 60% (or higher) of the trading day based on
demonstrated legal or regulatory requirements or other mitigating
circumstances. This obligation will apply to all of a Market Maker's
registered options collectively, rather than on an option-by-option
basis. Compliance with this obligation will be determined on a monthly
basis. This is the same requirement as on BX.\4\
---------------------------------------------------------------------------

    \3\ See BX Rules at Chapter VII, Section 6.
    \4\ See BX Rules at Chapter VII, Section 6.
---------------------------------------------------------------------------

    The Exchange believes that this is appropriate for two reasons.
First, the Exchange's current Market Maker quoting requirement is much
more stringent than BX.\5\ Quoting each series 90% of the trading day
is much more stringent than looking at all options in which a Market
Maker is registered, because it allows for some number of series not to
be quoted at all, as long as the overall standard is met. This better
accommodates the occasional issues that may arise in a particular
series, whether technical or manual. The existing requirement may at
times discourage liquidity in particular options series because a
Market Maker is forced to focus on a momentary lapse rather than using
the appropriate resources to focus on the options series that need and
consume additional liquidity. The Exchange believes that it can better
attract Market Makers to NOM and grow its market if its quoting
obligation is more in line with that of other exchanges.
---------------------------------------------------------------------------

    \5\ Id.
---------------------------------------------------------------------------

    The Exchange believes that the amendments to Section 6(d)(i)(1) of
Chapter VII, which would allow applying the quoting requirements for
Market Makers collectively across all options classes, is a fair and
more efficient way for the Exchange and market participants to evaluate
compliance with the continuous quoting requirements. Applying the
continuous quoting requirement collectively across all option classes
rather than on an issue-by-issue basis is beneficial to Market Makers
by providing some flexibility to choose which series in their appointed
classes they will continuously quote--increasing the continuous quoting
obligation in the series of one class to allow for a decrease in the
continuous quoting obligation in the series of another class. This
flexibility does not, however, diminish the Market Maker's obligation
to continuously quote a significant part of the trading day in a
significant percentage of series. Flexibility is important for classes
that have relatively few series and may prevent the Market Maker, in
particular, from breaching the continuous quoting requirement when
failing to meet the specified quote amount during the trading day (as
proposed) in more than one series in an appointed class. Nasdaq
Regulation may consider exceptions to the requirement to quote 60% (or
higher) of the trading day based on demonstrated legal or regulatory
requirements or other mitigating circumstances. This quoting obligation
will apply to all of a Market Maker's registered options collectively
on a daily basis, rather than on an option-by-option basis. This
quoting obligation will be reviewed on a monthly basis, and allows the
Exchange to review the Market Makers' daily compliance in the aggregate
and determine the appropriate disciplinary action for single or
multiple failures to comply with the continuous quoting requirement
during the month period. However, determining compliance with the
continuous quoting requirement on a monthly basis does not relieve a
Market Maker of the obligation to provide continuous two-sided quotes
on a daily basis, nor will it prohibit the Exchange from taking
disciplinary action against a Market Maker for failing to meet the
continuous quoting obligation each trading day. This is the same
requirement as on other options exchanges.\6\
---------------------------------------------------------------------------

    \6\ See NYSE Arca Rule 6.37B(c) and NYSE MKT Rule 925.1NY(c).
---------------------------------------------------------------------------

    The Exchange believes that the proposal will not diminish, and in
fact may increase, market making activity on the Exchange, by
establishing quoting compliance standards that are reasonable and are
already in place on other options exchanges. By amending Section 6 of
Chapter VII to state that quoting obligations apply to a Market Maker's
appointed issues collectively, this proposal is similar to that of
other options markets and puts the Exchange on an equal competitive
footing.\7\ Moreover, as discussed the Exchange believes that the
proposal may increase market making activity on the Exchange by
establishing quoting compliance standards that are reasonable and
already in place on other options exchanges.
---------------------------------------------------------------------------

    \7\ The proposed rule text is, as noted, similar in all material
respects to BX Rules at Chapter VII, Section 6.
---------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b) of the Act \8\ in general, and furthers the objectives of Section
6(b)(5) of the Act \9\ in particular, in that it is designed to prevent
fraudulent and manipulative acts and practices, to promote just and
equitable principles of trade, to foster cooperation and coordination
with persons engaged in facilitating transactions in securities, to
remove impediments to and perfect the mechanism of a free and open
market and a national market system and, in general, to protect
investors and the public interest. NOM operates in an intensely
competitive environment and seeks to offer the same services that its
competitors offer and in which its customers find value.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78f(b).
    \9\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Exchange believes that requiring NOM Market Makers to provide
continuous two-sided quotations 60% of the trading day (as a percentage
of the total number of minutes in such trading day) or such higher
percentage as the Exchange may announce in advance continues to promote
just and equitable principles of trade, to foster cooperation and
coordination with persons engaged in facilitating transactions in
securities. Further, the Exchange would apply the propose rule change
to all of a Market Maker's registered options collectively to all
appointed issues, rather than on an option-by-option basis and
compliance with this obligation will be determined on a monthly basis.
    The proposal supports the quality of the Exchange's market by
helping to ensure that Market Makers will continue to be obligated to
quote in series when necessary. Ultimately, the benefit the proposed
rule change confers upon Market Makers is offset by the continued
responsibilities to provide significant liquidity to the market to the
benefit of market participants. While under the proposal there are
quoting requirements changes, the Exchange

does not believe that these changes reduce the overall obligations
applicable to Market Makers.\10\ Moreover, the Exchange believes that
the proposal may increase market making activity on the Exchange and
the quality of the Exchange's market by establishing quoting compliance
standards that are reasonable and already in place on other options
exchanges.\11\
---------------------------------------------------------------------------

    \10\ In this respect, the Exchange notes that such Market Makers
are subject to many obligations aside from quoting, including, for
example, the obligation to maintain a fair and orderly market in
their appointed classes, and the obligation to conduct the opening
and enter continuous quotations in all of the series of their
appointed options classes within maximum spread requirements.
    \11\ See BX Rules at Chapter VII, Section 6.
---------------------------------------------------------------------------

    The proposed rule change also protects investors and the public
interest by creating more uniformity and consistency among the
Exchange's rules related to NOM Market Maker quoting obligations.
Providing Market Makers with flexibility by providing the continuous
quoting obligation collectively across all option classes will not
diminish the Market Makers' obligation to continuously quote a
significant part of the trading day in a significant percentage of
series. Additionally, with respect to compliance standards, the
Exchange believes that adopting the proposed standards will enhance
compliance efforts by Market Makers and the Exchange, and are
consistent with requirements currently in place on BX.\12\ The proposal
ensures that compliance standards for continuous quoting, in particular
regarding quoting obligations applying to all of a Market Maker's
appointed issues collectively, will be the same on the Exchange as on
other options exchanges. The Exchange believes that the proposal will
not diminish and in fact may increase, market making activity on the
Exchange by establishing quoting compliance standards that are
reasonable and already in place on other options exchanges.
---------------------------------------------------------------------------

    \12\ Id.
---------------------------------------------------------------------------

    BX's recent rule proposal lowered the BX Market Maker's obligations
in the same manner as proposed herein. BX also heightened its
requirements \13\ with respect to Lead Market Makers (``LMM'') because
LMM's were also being offered certain participation entitlements \14\
that are not offered BX Market Markers that were not LMMs. In that
filing, BX reasoned, ``[t]he Exchange believes that offering LMMs
participation entitlements promotes just and equitable principles of
trade because LMMs will be held to a higher standard as compared to
other market participants including Market Makers. A Market Maker would
be required, pursuant to this proposal, to quote 60% of the trading
day. LMMs are being held to a higher obligation and therefore are being
rewarded with participation entitlements. Similar to Market Makers,
LMMs add value through continuous quoting and the commitment of
capital.'' \15\ Further, ``[a]ccordingly, the proposed rule change
supports the quality of the Exchange's trading markets by helping to
ensure that LMMs will be required to meet a higher quoting standard in
order to reap the benefits of the participation entitlements.'' \16\
The Exchange is not offering NOM Market Makers such participation
entitlements as BX offers its LMMs.
---------------------------------------------------------------------------

    \13\ A BX LMM must provide continuous two-sided quotations
throughout the trading day in its appointed issues for 90% of the
time the Exchange is open for trading in each issue. Such quotations
must meet the legal quote width requirements. These obligations will
apply to all of the LMMs appointed issues collectively, rather than
on an option-by-option basis. Compliance with this obligation will
be determined on a monthly basis. BX Regulation may consider
exceptions to the requirement to quote 90% (or higher) of the
trading day based on demonstrated legal or regulatory requirements
or other mitigating circumstances. However, determining compliance
with the continuous quoting requirement on a monthly basis does not
relieve an LMM of the obligation to provide continuous two-sided
quotes on a daily basis, nor will it prohibit the Exchange from
taking disciplinary action against an LMM for failing to meet the
continuous quoting obligation each trading day.
    \14\ See BX Rules at Chapter VI, Section 10 for LMM
participation entitlements.
    \15\ See Securities Exchange Act Release No. 72883 (August 20,
2014), 79 FR 50971 (August 26, 2014) (SR-BX-2014-035).
    \16\ Id.
---------------------------------------------------------------------------

    Finally, the Exchange believes that subjecting NOM Market Makers to
the same requirements as those offered on other exchanges removes
impediments to and allows for a free and open market. NOM Market Makers
would have the same requirements as BX Options Market Makers.

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

    The proposed rule change does not impose any burden on competition
that is not necessary or appropriate in furtherance of the purposes of
the Act. Market Makers will be subject to quoting obligations which are
similar to those at BX.\17\ The Exchange would apply to all of a Market
Maker's registered options collectively to all appointed issues, rather
than on an option-by-option basis and compliance with this obligation
will be determined on a monthly basis. Further, the Exchange believes
that because this proposal establishes quoting compliance standards
that are already in place on other options exchanges, the proposal will
not diminish, and in fact may increase, market making activity on the
Exchange and thereby enhance intermarket competition. Moreover, the
proposed rule change will not impose any burden on intramarket
competition because it will affect all Market Makers the same.
---------------------------------------------------------------------------

    \17\ See BX Rules at Chapter VII, Section 6.
---------------------------------------------------------------------------

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

    Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A) of the Act \18\ and
subparagraph (f)(6) of Rule 19b-4 thereunder.\19\
---------------------------------------------------------------------------

    \18\ 15 U.S.C. 78s(b)(3)(A).
    \19\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is: (i)
Necessary or appropriate in the public interest; (ii) for the
protection of investors; or (iii) otherwise in furtherance of the
purposes of the Act. If the Commission takes such action, the
Commission shall institute proceedings to determine whether the
proposed rule should be approved or disapproved. The Exchange has
provided the Commission written notice of its intent to file the
proposed rule change, along with a brief description and text of the
proposed rule change, at least five business days prior to the date of
filing of the proposed rule change

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-NASDAQ-2014-084 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NASDAQ-2014-084. 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 the filing also will be available for inspection
and copying at the principal office of the Exchange. All comments
received will be posted without change; the Commission does not edit
personal identifying information from submissions. You should submit
only information that you wish to make available publicly.
    All submissions should refer to File Number SR-NASDAQ-2014-084 and
should be submitted on or before September 23, 2014.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\20\
---------------------------------------------------------------------------

    \20\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-20702 Filed 8-29-14; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: February 15, 2007 (Volume 72, Number 31)]
[Notices]
[Page 7488-7489]
[DOCID:fr15fe07-118]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-55263; File No. SR-CBOE-2005-111]

Self-Regulatory Organizations; Chicago Board Options Exchange,
Incorporated; Order Approving Proposed Rule Change as Modified by
Amendment No. 1 Thereto Relating to Multiple Representation Exception
Procedures

February 9, 2007.
    On December 16, 2005, the Chicago Board Options Exchange,
Incorporated (``CBOE'' or ``Exchange'') 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 adopt additional exceptions to
the prohibition on multiple representation by Market Makers contained
in CBOE Rule 6.55.\3\ On October 17, 2006, the Exchange filed Amendment
No. 1 to the proposed rule change. The proposed rule change, as
modified by Amendment No. 1, was published for comment in the Federal
Register on December 6, 2006.\4\ The Commission received no comments
regarding the proposal.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ The proposed rule change would also make revisions to
certain procedures in Rule 6.55 that have become outdated.
    \4\ See Securities Exchange Act Release No. 54823 (November 28,
2006), 71 FR 70810.
---------------------------------------------------------------------------

    Rule 6.55 is intended to ensure that Market Makers are not
disproportionately represented in the trading crowd. The general
prohibition of Rule 6.55 provides, in relevant part, that no Market-
Maker shall enter or be present in a trading crowd while a Floor Broker
present in the trading crowd is holding an order on behalf of the
Market Maker's individual account or an order initiated by the Market-
Maker for an account in which the Market-Maker has an interest.\5\
---------------------------------------------------------------------------

    \5\ Rule 6.55 also provides that regulatory circulars concerning
joint accounts should be consulted in connection with procedures
governing the simultaneous presence in the trading crowd of
participants in and orders for the same joint account. These
circulars, among other things, extend the prohibition against
multiple representation to cover joint account activity in certain
circumstances.
---------------------------------------------------------------------------

    The proposed rule change would add to the Rule's current exceptions
by permitting a Market-Maker to enter or be present in a trading crowd
in which a Floor Broker is present who holds either a solicited order
on behalf of the Market Maker's individual or joint account or a
solicited order initiated by the Market-Maker for an account in which
the Market Maker has an interest--provided that the Market-Maker
advises the Floor Broker of his or her intention to enter or be present
in the trading crowd and also refrains from trading in-person on the
same trade as the original order.\6\ The proposed rule change would
further permit a Market-Maker to enter or be present in a trading crowd
in which a Floor Broker is present who holds an order on behalf of the
Market Maker's individual account or an order the Market Maker
initiated for an account in which the Market Maker has an interest
(i.e., even when that order is not a solicited order)--provided that
the Market-Maker advises the Floor Broker of his or her intention to
enter or be present in the trading crowd and also refrains from trading
in-person on the same trade as the order being represented by the Floor
Broker.
---------------------------------------------------------------------------

    \6\ In the case of joint accounts, it would be the
responsibility of the Market-Maker to ascertain whether solicited
orders for his or her joint account had already been entered with a
Floor Broker in a trading crowd prior to his or her trading for the
joint account in-person.
---------------------------------------------------------------------------

    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 exchange, and in
particular, with Section 6(b)(5) of the Act,\7\ which requires, among
other things, that the rules of a national securities exchange 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.\8\
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78f(b)(5).
    \8\ 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).

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

    The Commission notes that, under each of the proposed new
exceptions, the Market Maker would be required to make the Floor Broker
aware of his or her intention to enter or be present in the trading
crowd, and the Market Maker would also be required to refrain from
trading in-person on the same trade as the relevant order being
represented by the Floor Broker. The Commission believes that these
provisions are appropriately designed to prevent a Market-Maker from
being disproportionately represented in the trading crowd, consistent
with the original purpose of the prohibition in CBOE Rule 6.55. The
Commission, therefore, believes that the proposed rule change is
consistent with the Act.
    It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\9\ that the proposed rule change (SR-CBOE-2005-111), as modified
by Amendment No. 1, is approved.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\10\
---------------------------------------------------------------------------

    \10\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Nancy M. Morris,
Secretary.
 [FR Doc. E7-2610 Filed 2-14-07; 8:45 am]

BILLING CODE 8010-01-P