[Federal Register Volume 83, Number 23 (Friday, February 2, 2018)]
[Notices]
[Pages 4944-4946]
[FR Doc No: 2018-02124]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-82596; File No. SR-OCC-2018-004]

Self-Regulatory Organizations; The Options Clearing Corporation;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Revise The Options Clearing Corporation's Schedule of Fees

January 30, 2018.
    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 January 19, 2018, The Options Clearing Corporation (``OCC'') filed
with the Securities and Exchange Commission (``Commission'') the
proposed rule change as described in Items I, II, and III below, which
Items have been prepared by OCC. OCC filed the proposed rule change
pursuant to Section 19(b)(3)(A)(ii) \3\ of the Act and Rule 19b-4(f)(2)
\4\ thereunder so that the proposal was effective upon filing with the
Commission. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \4\ 17 CFR 240.19b-4(f)(2).
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I. Clearing Agency's Statement of the Terms of Substance of the
Proposed Rule Change

    The proposed rule change by OCC would revise OCC's Schedule of Fees
effective March 1, 2018, to implement an increase in clearing fees in
accordance with OCC's Fee Policy.\5\ The proposed changes to the
Schedule of Fees can be found in Exhibit 5 to the proposed rule change.
All capitalized terms not defined herein have the same meaning as set
forth in the OCC By-Laws and Rules.\6\
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    \5\ OCC's Fee Policy was adopted as part of OCC's plan for
raising additional capital (``Capital Plan''), which was put in
place in light of proposed regulatory capital requirements
applicable to systemically important financial market utilities,
such as OCC. See Exchange Act Release No. 34-74452 (March 6, 2015),
80 FR 13058 (March 12, 2015) (SR-OCC-2015-02); Exchange Act Release
No. 34-74387 (February 26, 2015), 80 FR 12215 (March 6, 2015) (SR-
OCC-2014-813) (``Approval Orders''). BATS Global Markets, Inc., BOX
Options Exchange LLC, KCG Holdings, Inc., Miami International
Securities Exchange, LLC, and Susquehanna International Group, LLP
each filed petitions for review of the Approval Order, challenging
the action taken by delegated authority. Following review of these
petitions, on August 8, 2017, the U.S. Court of Appeals for the D.C.
Circuit remanded the Approval Orders to the Commission to further
analyze whether the Capital Plan is consistent with the Securities
Exchange Act of 1934. Susquehanna Int'l Grp., LLP v. SEC, 866 F.3d
442 (D.C. Cir. 2017). While the Commission further analyzes the
Capital Plan, it remains in effect as originally approved by the
Commission. See id.
    \6\ OCC's By-Laws and Rules can be found on OCC's public
website: http://optionsclearing.com/about/publications/bylaws.jsp.
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II. Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change

    In its filing with the Commission, OCC 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. OCC has prepared summaries, set forth in sections (A),
(B), and (C) below, of the most significant aspects of these
statements.

(A) Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change

(1) Purpose
    The purpose of this proposed rule change is to revise OCC's
Schedule of Fees in accordance with its Fee Policy to set OCC's fees at
a level designed to cover OCC's operating expenses and maintain a
Business Risk Buffer of 25%.\7\ The revised fee schedule would become
effective on March 1, 2018.\8\
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    \7\ The Business Risk Buffer is equal to net income before
refunds, dividends, and taxes divided by total revenue.
    \8\ OCC recently filed a proposed rule change with the
Commission to revise its Fee Policy to provide that proposed fee
changes are required to be implemented no sooner than thirty (30)
days from the date of filing of the proposed rule change concerning
such fee change (as opposed to sixty (60) days). See SR-OCC-2018-
001. OCC also has submitted the proposed changes to its Fee Policy
to the Commodity Futures Trading Commission (``CFTC'') under CFTC
Regulation 40.6 and expects the proposed changes to be certified on
January 24, 2018. OCC notes that implementation of the proposed fee
change on March 1, 2018, requires either (i) Commission approval of
SR-OCC-2018-001 and certification of the Fee Policy changes in SR-
OCC-2018-001 under CFTC Regulation 40.6 or (ii) an exception to the
60-day notice period provision in the Fee Policy authorized by OCC's
Board of Directors and the holders of all of the outstanding Class B
Common Stock of OCC. OCC's Board of Directors unanimously approved,
and the holders of all of the outstanding Class B Common Stock of
OCC unanimously consented to, the reduction of the 60-day notice
period to 30 days on December 15, 2016.
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    By way of background, OCC implemented its Capital Plan in 2015,\9\
which was put in place in light of proposed regulatory capital
requirements applicable to systemically important financial market
utilities, such as OCC. As part of OCC's Capital Plan, OCC adopted a
Fee Policy whereby OCC would set clearing fees at a level that covers
OCC's operating

expenses plus a Business Risk Buffer of 25%.\10\ The purpose of the
Business Risk Buffer is to ensure that OCC accumulates sufficient
capital to cover unexpected fluctuations in operating expenses,
business capital needs, and regulatory capital requirements.
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    \9\ See supra note 5.
    \10\ OCC's Schedule of Fees must also meet the requirements set
forth in Article IX, Section 9 of OCC's By-Laws. In general, Article
IX, Section 9 of OCC's By-Laws requires that OCC's fee structure be
designed to: 1) cover OCC's operating expenses plus a business risk
buffer; 2) maintain reserves deemed reasonably necessary by OCC's
Board of Directors; and 3) accumulate an additional surplus deemed
advisable by the Board of Directors to permit OCC to meet its
obligations to its clearing members and the public. Clauses 2 and 3
above will only be invoked at the discretion of OCC's Board of
Directors and in extraordinary circumstances.
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    OCC recently reviewed its current Schedule of Fees \11\ against
projected revenues and expenses for 2018 in accordance with its Fee
Policy, to determine whether the Schedule of Fees was sufficient to
cover OCC's anticipated operating expenses and achieve a Business Risk
Buffer of 25%. In reviewing the Schedule of Fees, OCC analyzed: (i)
Expenses budgeted for 2018, (ii) projected other revenue streams for
2018, (iii) projected volume ``mix,'' and (iv) projected volume growth
for 2018. Based on the foregoing analysis, OCC determined that the
current fee schedule is set at a level that would be insufficient to
ensure that OCC achieves its Business Risk Buffer of 25% as required
under the Fee Policy.\12\ OCC arrived at the proposed fee schedule
presented herein by determining the figures that provide the best
opportunity for OCC to achieve coverage of its anticipated operating
expenses plus a Business Risk Buffer of 25%.
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    \11\ OCC previously revised its Schedule of Fees effective
December 1, 2016, to implement a fee increase in accordance with the
Fee Policy. See Securities Exchange Act Release No. 79028 (October
3, 2016), 81 FR 69885 (October 7, 2016) (SR-OCC-2016-012).
    \12\ OCC has provided a summary of its analysis in confidential
Exhibit 3 of the filing.
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    As a result of the aforementioned analysis, OCC proposes to revise
its Schedule of Fees as set forth below.\13\
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    \13\ These changes are also reflected in Exhibit 5.

----------------------------------------------------------------------------------------------------------------
                     Current fee schedule                                    Proposed fee schedule
----------------------------------------------------------------------------------------------------------------
                                                                  Trades with
      Trades with contracts of:             Current fee          contracts of:             Proposed fee
----------------------------------------------------------------------------------------------------------------
1-1100..............................  $0.050/contract........            1-1018  $0.054/contract.
>1100...............................  $55/trade..............             >1018  $55/trade.
----------------------------------------------------------------------------------------------------------------

    OCC proposes to modify its fee schedule to: (i) Increase its per
contract clearing fee from $0.050 to $0.054 per contract and (ii)
adjust the quantity of contracts at which the fixed, per trade clearing
fee begins from greater than 1100 contracts per trade to greater than
1018 contracts per trade. The proposed changes are designed to target a
level of revenues sufficient to cover OCC's operating expenses plus a
Business Risk Buffer of 25% while continuing to maintain OCC's existing
fixed, per trade fee at a level of $55 per trade.
    In accordance with its Fee Policy, OCC will continue to monitor
cleared contract volume and operating expenses in order to determine if
further revisions to OCC's Schedule of Fees are required so that monies
received from clearing fees cover OCC's operating expenses plus a
Business Risk Buffer of 25%.\14\
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    \14\ Any subsequent changes to OCC's Schedule of Fees would be
the subject of a subsequent proposed rule change filed with the
Commission.
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(2) Statutory Basis
    Section 17A(b)(3)(D) of the Act, requires that the rules of a
clearing agency provide for the equitable allocation of reasonable
dues, fees, and other charges among its participants.\15\ The proposed
fee schedule was set in accordance with the criteria set forth in OCC's
Capital Plan, which requires that OCC's fees be set at a level designed
to cover OCC's operating expenses and maintain a Business Risk Buffer
of 25%.\16\ OCC believes the proposed fee change is reasonable because
the fee increase would be set at a level intended only to facilitate
the maintenance of OCC's Business Risk Buffer of 25%, which is designed
to ensure that OCC accumulates sufficient capital to cover unexpected
fluctuations in operating expenses, business capital needs, and
regulatory capital requirements. Moreover, OCC believes that the
proposed fee change would result in an equitable allocation of fees
among its participants because it would be equally applicable to all
market participants. As a result, OCC believes that the proposed fee
schedule provides for the equitable allocation of reasonable fees in
accordance with Section 17A(b)(3)(D) of the Act.\17\ The proposed rule
change is not inconsistent with the existing rules of OCC, including
any other rules proposed to be amended.
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    \15\ 17 U.S.C. 78q-1(b)(3)(D).
    \16\ See supra note 5.
    \17\ 17 U.S.C. 78q-1(b)(3)(D).
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(B) Clearing Agency's Statement on Burden on Competition

    Section 17A(b)(3)(I) of the Act\18\ requires that the rules of a
clearing agency not impose any burden on competition not necessary or
appropriate in furtherance of the purposes of the Act. OCC does not
believe that the proposed rule change would have any impact or impose a
burden on competition. Although this proposed rule change affects
clearing members, their customers, and the markets that OCC serves, OCC
believes that the proposed rule change would not disadvantage or favor
any particular user of OCC's services in relationship to another user
because the proposed clearing fees apply equally to all users of OCC.
Accordingly, OCC does not believe that the proposed rule change would
have any impact or impose a burden on competition.
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    \18\ 15 U.S.C. 78q-1(b)(3)(I).
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(C) Clearing Agency's Statement on Comments on the Proposed Rule Change
Received From Members, Participants or Others

    Written comments on the proposed rule change were not and are not
intended to be solicited with respect to the proposed rule change and
none have been received.

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

    Pursuant to Section 19(b)(3)(A)(ii) \19\ of the Act, and Rule 19b-
4(f)(2) thereunder,\20\ the proposed rule change is filed for immediate
effectiveness as it constitutes a change in fees charged to OCC
Clearing Members. 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
necessary or appropriate in the public interest, for the protection of
investors,

or otherwise in furtherance of the purposes of the Act.\21\
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    \19\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \20\ 17 CFR 240.19b-4(f)(2).
    \21\ Notwithstanding its immediate effectiveness, implementation
of this rule change will be delayed until this change is deemed
certified under CFTC Rule 40.6.
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IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include
File Number SR-OCC-2018-004 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-OCC-2018-004. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549, on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of such filing also will be available for inspection
and copying at the principal office of OCC and on OCC's website at
https://www.theocc.com/about/publications/bylaws.jsp.
    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-OCC-2018-004 and
should be submitted on or before February 23, 2018.
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    \22\ 17 CFR 200.30-3(a)(12). OCC filed this proposed rule change
for immediate effectiveness pursuant to Exchange Act Section
19(b)(3)(A)(ii) and Rule 19b-4(f)(2). As stated above in note 8, OCC
may not implement the proposed change unless either (i) the
Commission issues an Order approving the proposed rule change SR-
OCC-2018-001 or (ii) an exception to the 60-day notice period
provision in the Fee Policy is authorized by OCC's Board of
Directors and the holders of all of the outstanding Class B Common
Stock of OCC.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\22\
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-02124 Filed 2-1-18; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 88, Number 104 (Wednesday, May 31, 2023)]
[Notices]
[Pages 34915-34916]
[FR Doc No: 2023-11457]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

Public Notice of Airport Improvement Program Property Release;
Bremerton National Airport, Bremerton, Washington

AGENCY: Federal Aviation Administration (FAA), Transportation (DOT).

ACTION: Notice of request to release airport improvement program
property.

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SUMMARY: Notice is being given that the FAA is considering a request
from the Port of Bremerton, Washington to waive the Airport Improvement
Program property requirements for approximately 20.65 acres of airport
property located at Bremerton National Airport, Bremerton, Washington.

DATES: Comments are due within 30 days of the date of the publication
of this notice in the Federal Register. Emailed comments can be
provided to Ms. Mandi M. Lesauis, Compliance Specialist, Northwest
Mountain Region, [email protected].

FOR FURTHER INFORMATION CONTACT: Mandi M. Lesauis, Compliance
Specialist, Northwest Mountain Region, [email protected], (206)
231-4140.

SUPPLEMENTARY INFORMATION: The subject properties are located in the
southwest section of the airport. This release will allow the Port of
Bremerton

to sell 20.65 acres to develop Airport Industrial Way and provide
access to industrial airport properties. There will be proceeds
generated from the proposed release of this property for capital
improvements at the airport. The Port of Bremerton, Washington will
receive not less than fair market value for the property and the
revenue generated from the sale will be used for airport purposes. It
has been determined through study that the subject 20.65 acres will not
be needed for aeronautical purposes.
    Authority: Title 49.U.S.C. 47153(c).

    Issued in Des Moines, Washington, on May 24, 2023.
Warren D. Ferrell,
Manager, Seattle Airports District Office.
[FR Doc. 2023-11457 Filed 5-30-23; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 76, Number 188 (Wednesday, September 28, 2011)]
[Proposed Rules]
[Pages 59950-59952]
[FR Doc No: 2011-24842]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. FAA-2011-1022; Directorate Identifier 2011-NE-20-AD]
RIN 2120-AA64

Airworthiness Directives; BRP--Powertrain GMBH & CO KG 914 F2,
914 F3, and 914 F4 Reciprocating Engines

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice of proposed rulemaking (NPRM).

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SUMMARY: We propose to adopt a new airworthiness directive (AD) for the
products listed above. This proposed AD results from mandatory
continuing airworthiness information (MCAI) issued by an aviation
authority of another country to identify and correct an unsafe
condition on an aviation product. The MCAI describes the unsafe
condition as:

    Isolated manufacturing deviations have been reportedly found on
the threads of a certain batch of fuel pressure regulators, Part
Number (P/N) 887130, installed on Rotax 914 F series engines.
    This condition, if not corrected, could lead to a fuel leak and
in-flight fire which would necessitate an engine shut-down, possibly
resulting in a forced landing, with consequent damage to the
aeroplane and injury to occupants.

    These affected fuel pressure regulators may have non-conforming
threads in the banjo bolt fitting for the fuel return line to the fuel
tank from original manufacture. These non-conforming threads could
result in fuel leakage during engine operation. We are proposing this
AD to prevent fuel leaks, which could result in an in-flight fire and
damage to the aircraft.

DATES: We must receive comments on this proposed AD by November 14,
2011.

ADDRESSES: You may send comments by any of the following methods:
     Federal eRulemaking Portal: Go to http://www.regulations.gov and follow the instructions for sending your
comments electronically.
     Mail: Docket Management Facility, U.S. Department of
Transportation, 1200 New Jersey Avenue, SE., West Building Ground
Floor, Room W12-140, Washington, DC 20590-0001.
     Hand Delivery: Deliver to Mail address above between 9
a.m. and 5 p.m., Monday through Friday, except Federal holidays.
     Fax:<PHONE_NUMBER>.

Examining the AD Docket

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

FOR FURTHER INFORMATION CONTACT: Mark Riley, Aerospace Engineer, Engine
Certification Office, FAA, Engine & Propeller Directorate, 12 New
England Executive Park, Burlington, MA 01803; e-mail:
<EMAIL_ADDRESS>phone:<PHONE_NUMBER>; fax:<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Comments Invited

    We invite you to send any written relevant data, views, or
arguments about this proposed AD. Send your comments to an address
listed under the ADDRESSES section. Include ``Docket No. FAA-2011-1022;
Directorate Identifier 2011-NE-20-AD'' at the beginning of your
comments. We specifically invite comments on the overall regulatory,
economic, environmental, and energy aspects of this proposed AD. We
will consider all comments received by the closing date and may amend
this proposed AD based on those comments.
    We will post all comments we receive, without change, to http://www.regulations.gov, including any personal information you provide. We
will also post a report summarizing each substantive verbal contact
with FAA personnel concerning this proposed AD. Using the search
function of the Web site, anyone can find and read the comments in any
of our dockets, including, if provided, the name of the individual who
sent the comment (or signed the comment on behalf of an association,
business, labor union, etc.). You may review the DOT's complete Privacy
Act Statement in the Federal Register published on April 11, 2000 (65
FR 19477-78).

Discussion

    The European Aviation Safety Agency (EASA), which is the Technical
Agent for the Member States of the European Community, has issued EASA
Airworthiness Directive 2011-0082, dated May 10, 2011 (referred to
after this as ``the MCAI''), to correct an unsafe

condition for the specified products. The MCAI states:

    Isolated manufacturing deviations have been reportedly found on
the threads of a certain batch of fuel pressure regulators, Part
Number (P/N) 887130, installed on Rotax 914 F series engines.
    This condition, if not corrected, could lead to a fuel leak and
in-flight fire which would necessitate an engine shut-down, possibly
resulting in a forced landing, with consequent damage to the
aeroplane and injury to occupants.

    These affected fuel pressure regulators may have non-conforming
threads in the banjo bolt fitting for the fuel return line to the fuel
tank from original manufacture. These non-conforming threads could
result in fuel leakage during engine operation, in-flight fire, and
damage to the airplane.
    For the reasons described above, this proposed AD would require the
replacement of all affected P/N 887130 fuel pressure regulators with
parts eligible for installation. You may obtain further information by
examining the MCAI in the AD docket.

FAA's Determination and Requirements of This Proposed AD

    This product has been approved by EASA, and is approved for
operation in the United States. Pursuant to our bilateral agreement
with the European Community, EASA has notified us of the unsafe
condition described in the MCAI. We are proposing this AD because we
evaluated all information provided by EASA and determined the unsafe
condition exists and is likely to exist or develop on other products of
the same type design. This proposed AD would require the replacement of
all affected P/N 887130 fuel pressure regulators with parts eligible
for installation, within 100 flight hours after the effective date of
the proposed AD.

Differences Between This AD and the MCAI or Service Information

    The EASA AD requires replacing the fuel pressure regulator within
100 flight hours (FH) or 6 months after the effective date of that AD,
whichever occurs first. This proposed AD would require replacing the
fuel pressure regulator within 100 FH after the effective date of this
proposed AD.

Costs of Compliance

    We estimate that this proposed AD would affect about 75 products of
U.S. registry. We also estimate that it would take about 2 work-hours
per product to comply with this proposed AD. The average labor rate is
$85 per work-hour. Required parts would cost about $180 per product.
Based on these figures, we estimate the cost of the proposed AD on U.S.
operators to be $26,250.

Authority for This Rulemaking

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

Regulatory Findings

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

List of Subjects in 14 CFR Part 39

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

The Proposed Amendment

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

PART 39--AIRWORTHINESS DIRECTIVES

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

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

Sec.  39.13  [Amended]

    2. The FAA amends Sec.  39.13 by adding the following new AD:

BRP--Powertrain GMBH & CO KG (formerly Bombardier-Rotax GmbH):
Docket No. FAA-2011-1022; Directorate Identifier 2011-NE-20-AD.

Comments Due Date

    (a) We must receive comments by November 14, 2011.

Affected Airworthiness Directives (ADs)

    (b) None.

Applicability

    (c) This AD applies to BRP--Powertrain GMBH & CO KG 914 F2, 914
F3, and 914 F4 reciprocating engines with certain fuel pressure
regulators, part number (P/N) 887130 installed.

Reason

    (d) This AD results from:
    Isolated manufacturing deviations have been reportedly found on
the threads of a certain batch of Fuel pressure Regulators, Part
Number (P/N) 887130, installed on Rotax 914 F series engines.
    This condition, if not corrected, could lead to a fuel leak and
in-flight fire which would necessitate an engine shut-down, possibly
resulting in a forced landing, with consequent damage to the
aeroplane and injury to occupants.
    We are issuing this AD prevent to fuel leaks, which could result
in an in-flight fire and damage to the aircraft.

Actions and Compliance

    (e) Within 100 flight hours (FH) after the effective date of
this AD, replace fuel pressure regulators listed in Table 1 of this
AD with a fuel pressure regulator that is not listed in Table 1 of
this AD, and is eligible for installation.
    (f) After the effective date of this AD, do not install any fuel
pressure regulator P/N 887130 onto any engine, if the fuel pressure
regulator has a serial number (S/N) listed in Table 1 of this AD.
    (g) After the effective date of this AD, do not install any
Rotax 914 F series engine on any airplane if it has installed in it
a fuel pressure regulator P/N 887130 with a S/N listed in Table 1 of
this AD.

     Table 1--S/Ns of Affected Fuel Pressure Regulators, P/N 887130
------------------------------------------------------------------------

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100200 through 100246 inclusive.
100248 through 100280 inclusive.
100282 through 100293 inclusive.
100295 through 100314 inclusive.
100316 and 100317.
100319 through 100326 inclusive.
100330.
100332 and 100333.

100338 through 100340 inclusive.
100342 through 100345 inclusive.
100348.
100350 through 100355 inclusive.
100357 through 100363 inclusive.
100365 through 100368 inclusive.
100371 and 100372.
100374 through 100376 inclusive.
100379 and 100380.
100395 and 100396.
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FAA AD Differences

    (h) This AD differs from the Mandatory Continuing Airworthiness
Information (MCAI) by the compliance time. The MCAI requires
replacing the fuel pressure regulator within 100 FH or 6 months
after the effective date of EASA AD 2011-0082, dated May 10, 2011.
This AD requires replacing the fuel pressure regulator within 100 FH
after the effective date of this AD.

Alternative Methods of Compliance (AMOCs)

    (i) The Manager, Engine Certification Office, FAA, has the
authority to approve AMOCs for this AD, if requested using the
procedures found in 14 CFR 39.19.

Related Information

    (j) Refer to MCAI Airworthiness Directive 2011-0082, dated May
10, 2011, for related information.
    (k) Contact Mark Riley, Aerospace Engineer, Engine Certification
Office, FAA, Engine & Propeller Directorate, 12 New England
Executive Park, Burlington, MA 01803; e-mail<EMAIL_ADDRESS>
phone:<PHONE_NUMBER>; fax:<PHONE_NUMBER>, for more information about
this AD.

    Issued in Burlington, Massachusetts, on September 21, 2011.
Peter A. White,
Manager, Engine and Propeller Directorate, Aircraft Certification
Service.
[FR Doc. 2011-24842 Filed 9-27-11; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 81, Number 24 (Friday, February 5, 2016)]
[Notices]
[Pages 6311-6314]
[FR Doc No: 2016-02198]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-77008; File No. SR-NYSEMKT-2015-106]

Self-Regulatory Organizations; NYSE MKT LLC; Order Approving
Proposed Rule Change Amending the Seventh Amended and Restated
Operating Agreement of the Exchange To Establish a Committee for Review
as a Sub-Committee of the ROC and Make Conforming Changes to Rules and
the NYSE MKT Company Guide

February 1, 2016.

I. Introduction

    On December 11, 2015, NYSE MKT LLC (``Exchange'' or ``NYSE MKT'')
filed with the Securities and Exchange Commission (``Commission''),
pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 1934
(``Act''),\2\ and Rule 19b-4 thereunder,\3\ a proposed rule change to
amend the Seventh Amended and Restated Operating Agreement (``Operating
Agreement'') of the Exchange and to amend various rules of the
Exchange, as described below. The proposed rule change was published
for comment in the Federal Register on December 18, 2015.\4\ The
Commission received no comment letters on the proposed rule change.
This order approves the proposed rule change.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
    \4\ See Securities Exchange Act Release No. 76638 (December 14,
2015), 80 FR 79117 (``Notice'').
---------------------------------------------------------------------------

II. Description of the Proposal

    As part of a regulatory restructuring, NYSE proposes to: (i) Amend
the Operating Agreement to establish a Committee for Review (``CFR'')
as a subcommittee of the Regulatory Oversight Committee (``ROC'') \5\
and make conforming changes to Exchange Rules 475, 476, 476A, 20--
Equities, 308--Equities and Sections 1201, 1204, 1205, 1206, 1211, and
1212T of the Company Guide; (ii) delete references to ``NYSE
Regulation, Inc.'' and ``NYSE Regulation'' \6\ in Section 4.05 of the

Operating Agreement as well as Exchange Rules 0, 1--Equities, 22--
Equities, 36--Equities, 48--Equities, 49--Equities, 54--Equities, 70--
Equities, 103--Equities, 103A--Equities, 103B--Equities, 422--Equities,
497--Equities, and 902NY; (iii) replace references to the Chief
Executive Officer of NYSE Regulation in Exchange Rules 48--Equities,
49--Equities, and 86--Equities with references to the Chief Regulatory
Officer of the Exchange; and (iv) make certain technical and non-
substantive changes.
---------------------------------------------------------------------------

    \5\ The Commission recently approved the Exchange's proposal to
establish the ROC as a committee of the Exchange's Board of
Directors (``Board'') to be composed solely of directors who satisfy
the Exchange's independence requirements, as set forth in the
Exchange's Independence Policy of the Board of Directors. See
Securities Exchange Act Release No. 75148 (June 11, 2015), 80 FR
34751 (June 17, 2015).
    \6\ NYSE Regulation, Inc. (``NYSE Regulation''), a not-for-
profit subsidiary of the Exchange's affiliate New York Stock
Exchange LLC (``NYSE''), performs regulatory functions for the
Exchange pursuant to an intercompany Regulatory Services Agreement
(``RSA'') that gives the Exchange the contractual right to review
NYSE Regulation's performance. See Notice, supra note 4, at 79117
n.4.
---------------------------------------------------------------------------

    The Exchange proposes that these rule revisions would be operative
simultaneously with the termination of the Regulatory Services
Agreement between the Exchange and NYSE Regulation, but no later than
June 30, 2016, on a date to be determined by the Board.\7\
---------------------------------------------------------------------------

    \7\ See id.
---------------------------------------------------------------------------

A. Establishing a Committee for Review and Conforming Exchange Rules

    The Exchange proposes to establish a Committee for Review (``CFR'')
as a subcommittee of the ROC by adding a new subsection (h)(iii) to
Section 2.03 of the Operating Agreement and to make conforming changes
to Exchange Rules 475, 476, 476A, 20--Equities, 308--Equities and
Sections 1201, 1204, 1205, 1206, 1211, and 1212T of the Company
Guide.\8\ The proposed CFR would be the successor to the current CFR,
which is a committee of NYSE Regulation's Board of Directors that
reviews appeals of Exchange disciplinary actions, and the Committee on
Securities, which is a Board committee that reviews determinations to
limit or prohibit the continued listing of an issuer's securities on
the Exchange.\9\
---------------------------------------------------------------------------

    \8\ See id. at 79118.
    \9\ See id.
---------------------------------------------------------------------------

    Section 2.03(h)(iii) of the Operating Agreement would provide that
the Board shall annually appoint a CFR as a subcommittee of the ROC.
The Exchange notes that proposed Section 2.03(h)(iii) of the Operating
Agreement incorporates member organization association requirements of
the current CFR.\10\ The proposed CFR would be comprised of both
Exchange directors who satisfy the Exchange's independence requirements
as well as non-directors.\11\ The Exchange notes that, because the
majority of the Board would be independent directors, as a functional
matter if the Exchange were to have a five-person Board, at least three
of the five directors would qualify for CFR membership.\12\ Non-
directors serving on the proposed CFR would include representatives of
member organizations that engage in a business involving substantial
direct contact with securities customers (upstairs firms), DMMs or
specialists, and floor brokers.\13\ The Exchange notes that the
proposed CFR, like the current CFR, would be selected after appropriate
consultation with those members.\14\ The Exchange notes further that,
for any CFR vote, a majority of the members of the CFR casting votes
would have to be directors of the Exchange.
---------------------------------------------------------------------------

    \10\ See id.
    \11\ See id. at 79118 n.8 and accompanying text (citing the
Independence Policy of the Board of Directors).
    \12\ See id. at 79118 n.8.
    \13\ See id. at 79118. The Exchange notes that market makers on
the Exchange's equity market are called DMMs and on NYSE Amex
Options are called specialists. See id. at 79918 n.9.
    \14\ The Exchange does not propose to incorporate from the
current CFR the category of a NYSE MKT member that is associated
with a NYSE MKT member organization that spends a majority of their
time on the trading floor and has a substantial part of their
business the execution of transactions on the trading floor for
their own account or the account of their member organization but is
not registered as a specialist. See Notice, supra note 4, at 79118
n.9. The Exchange represents that this category of NYSE MKT member
no longer exists and, as a result, the Exchange does not propose to
require the representation of such member on the proposed CFR. See
id.
---------------------------------------------------------------------------

    The proposed CFR would be responsible for reviewing the
disciplinary decisions on behalf of the Board and reviewing
determinations to limit or prohibit the continued listing of an
issuer's securities on the Exchange.\15\ Additionally, the Exchange
proposes to incorporate the role of the Market Performance and
Regulatory Advisory Committees into the proposed CFR.\16\ As a result,
the proposed CFR would be charged with acting in an advisory capacity
to the Board with respect to disciplinary matters, the listing and
delisting of securities, regulatory programs, rulemaking and regulatory
rules, including trading rules. The Exchange states that the proposed
CFR would therefore serve in the same advisory capacity as the Market
Performance and Regulatory Advisory Committees.\17\
---------------------------------------------------------------------------

    \15\ The Exchange notes that these powers are currently set
forth in the charter of the NYSE Regulation CFR, which also states
that the CFR can provide general advice to the NYSE Regulation's
Board of Directors in connection with disciplinary, listing and
other regulatory matters. The Exchange proposes to delineate the
appellate and advisory powers of the proposed CFR in Section
2.03(h)(iii) of the Operating Agreement. See id. at 79118 n.11.
    \16\ Id. at 79118-19. The Exchange notes that the same profile
of members who historically have served on these advisory committees
would be represented on the proposed CFR. Id.
    \17\ See id. at 79118.
---------------------------------------------------------------------------

    According to the Exchange, member participation on the proposed CFR
would be sufficient to provide for the fair representation of members
in the administration of the affairs of the Exchange, including
rulemaking and the disciplinary process, consistent with Section
6(b)(3) of the Act.\18\
---------------------------------------------------------------------------

    \18\ See id. at 79119 and 15 U.S.C. 78f(b)(3).
---------------------------------------------------------------------------

    The Exchange proposes to make conforming amendments to Exchange
Rules 475, 476, 476A and 308--Equities and Sections 1201, 1204, 1205,
1206, 1211, and 1212T of the Company Guide by generally replacing
references to the current NYSE Regulation CFR with references to the
``Committee for Review.''
    The Exchange further proposes to amend Rule 476(f) to provide that
the CFR may, but would not be required to, appoint an appeals panel to
conduct a review thereunder and make a recommendation to the CFR
regarding the disposition of the appeal. The Exchange represents that
appeals panels would have no other role in the appellate process.\19\
Any proposed appeals panel, as appointed by the CFR, would consist of
at least three and no more than five individuals consistent with the
composition of appeals panels constituted under the rules of the
Exchange's affiliate, NYSE Arca, Inc.\20\ The Exchange represents that
an appeals panel appointed by the CFR for equity matters would be
composed of at least one director and one member or individual
associated with an equities member organization. The Exchange further
represents that an appeals panel appointed by the CFR for options
matters would be composed of at least one director and one member or
individual associated with an options member organization. The Exchange
also proposes to describe the CFR as a subcommittee of the Exchange's
ROC in Sections 1205 and 1212T(g) of the Company Guide.
---------------------------------------------------------------------------

    \19\ See id. at 79119.
    \20\ See id.
---------------------------------------------------------------------------

B. Modifying Exchange Rules To Delete References to NYSE Regulation

    The Exchange proposes in connection with the Exchange's termination
of the intercompany RSA to amend Section 4.05 of the Operating
Agreement as well as Exchange Rules 0 (Regulation of the Exchange and
its Member Organizations), 1--Equities (Definitions of Terms), 22--
Equities (Disqualification Because of Personal Interest), 36
(Supplementary Material .30)--Equities (Communications Between Exchange
and Members' Offices), 46 (Supplementary Material

.10)--Equities (Floor Officials -Appointment), 48--Equities (Exemptive
Relief--Extreme Market Volatility Condition), 49--Equities (Emergency
Powers), 54--Equities (Dealings on Floor--Persons), 70 (Subparts (1)
and (7) of Supplementary Material .40)--Equities (Execution of Floor
Broker Interest), 103--Equities (Registration and Capital Requirements
of DMMs and DMM Units), 103A--Equities (Member Education), 103B (Policy
Note G and Supplementary Material .10)--Equities (Security Allocation
and Reallocation), 422--Equities (Loans of and to Directors, etc.),
497--Equities (Additional Requirements for Listed Securities Issued by
Intercontinental Exchange, Inc. or its Affiliates), and 902NY
(Admission and Conduct on the Options Trading Floor) by deleting
references to ``NYSE Regulation, Inc.'' and ``NYSE Regulation'' and
where appropriate to replace such references with the ``Exchange'' or
the ``Exchange regulatory staff.'' \21\
---------------------------------------------------------------------------

    \21\ See id. at 79119-20.
---------------------------------------------------------------------------

C. Modifying Exchange Rules To Reference the Exchange's Chief
Regulatory Officer

    The Exchange proposes to amend Exchange Rules 48--Equities
(Exemptive Relief--Extreme Market Volatility Condition), 49--Equities
(Emergency Powers), and 86--Equities (NYSE Bonds), to replace
references to the Chief Executive Officer of NYSE Regulation with
references to the Chief Regulatory Officer of the Exchange.

D. Certain Technical and Non-Substantive Changes

    The Exchange proposes to make certain technical and non-substantive
changes to amend Exchange Rules 1--Equities (Definitions of Terms),
48--Equities (Exemptive Relief-- Extreme Market Volatility Condition),
and 103B--Equities (Security Allocation and Reallocation). The Exchange
also proposes to make certain technical and non-substantive changes to
amend the Exchange's Company Guide Sections 350 (Cancellation Notice),
1204 (The Listing Qualifications Panel), 1205 (Review by the Exchange
Committee on Securities), 1206 (Discretionary Review by Board of
Directors), 1212T (Temporary Provisions Regarding Legacy Applications
for Initial Listing), and the Listing Forms Appendix.
    Exchange Rule 1-Equities, which defines the term the ``Exchange,''
would be amended to replace single quotation marks with double
quotation marks in the heading and in the first paragraph.
    Exchange Rule 48--Equities, which sets forth the procedures for
invoking an extreme market volatility condition, would be amended to
replace single quotation marks with double quotation marks around the
term ``qualified Exchange officer.''
    Exchange Rule 103B--Equities, which governs the security allocation
and reallocation process, would be amended to replace single quotation
marks with double quotation marks around the term ``Allocation
Prohibition'' and to remove the comma from ``New York Stock Exchange,
LLC.''
    The Exchange proposes to update the sample letter set forth in
Section 350 of the Exchange's Company Guide. Section 350 provides that
a company no longer intending to issue all or some securities for
listing should cancel the listing authority by notifying the Exchange
by letter, and provides a sample letter for use by listed companies.
The Exchange proposes to amend the sample letter in Section 350 by
changing the addressee from ``Office of General Counsel'' to ``Legal
Department,'' updating the address to ``11 Wall Street,'' and the
salutation from ``Dear Sirs'' to ``Ladies and Gentlemen.'' Similarly,
the Exchange proposes to make conforming changes in the Exchange's
Company Guide Sections 1204, 1205, 1206 and 1212T to replace references
to the ``Office of General Counsel'' with ``Legal Department.''
    The Exchange also proposes to amend Section 1212T(c) to replace the
outdated reference to ``American Stock Exchange'' with ``Exchange.''
    Finally, the Exchange proposes to update the Listing Forms Appendix
to update the address from ``30 Broad'' to ``11 Wall'' Street.

III. Discussion and Commission Findings

    After careful review, the Commission finds that the proposed rule
change is consistent with the Act and the rules and regulations
thereunder applicable to a national securities exchange.\22\ In
particular, the Commission finds that the proposed rule change is
consistent with Section 6(b)(1) of the Act, which requires an exchange
to be so organized and have the capacity to carry out the purposes of
the Act and to comply, and to enforce compliance by its members and
persons associated with its members, with the Act, the rules and
regulations thereunder, and the rules of the exchange.\23\ The
Commission finds that the proposal also is consistent with the
requirements of Section 6(b)(3) of the Act, which provides that the
rules of an exchange must assure a fair representation of its members
in the selection of its directors and administration of its affairs and
provide that one or more directors shall be representative of issuers
and investors and not be associated with a member of the exchange,
broker, or dealer.\24\ In addition, the Commission finds that the
proposal is consistent with Section 6(b)(5) of the Act, which requires
that the rules of the exchange be designed, among other things, to
prevent fraudulent and manipulative acts and practices, 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.\25\
Finally, the Commission finds that the proposal is consistent with
Section 6(b)(7) of the Act, which requires that the rules of the
exchange provide a fair procedure for the disciplining of its members
and persons associated with members, the denial of membership to any
person seeking membership therein, the barring of any person from
becoming associated with a member thereof, and the prohibition or
limitation by the exchange with respect to access to services offered
by the exchange or a member thereof.\26\
---------------------------------------------------------------------------

    \22\ In approving this proposed rule change, the Commission
notes that it has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
    \23\ 15 U.S.C. 78f(b)(1).
    \24\ 15 U.S.C. 78f(b)(3).
    \25\ 15 U.S.C. 78f(b)(5).
    \26\ 15 U.S.C. 78f(b)(7).
---------------------------------------------------------------------------

    The Exchange represents that the proposed CFR would be a successor
to the current CFR, which is a committee of the NYSE Regulation's Board
of Directors that reviews appeals of Exchange disciplinary actions, and
the Committee on Securities, which is a committee of the Exchange's
Board that reviews determinations to limit or prohibit the continued
listing of an issuer's securities on the Exchange.\27\ The Exchange
also proposes to incorporate the responsibilities of the Market
Performance Committee and the Regulatory Advisory Committee into the
proposed CFR.\28\ According to the Exchange, the Market Performance
Committee acts in an advisory capacity regarding trading rules and
other matters within its charter, and the Regulatory Advisory Committee
acts in an advisory capacity regarding disciplinary matters and
regulatory

rules other than trading rules.\29\ Therefore, the Exchange proposes to
expand the proposed CFR's responsibilities to include acting in an
advisory capacity to the Board with respect to disciplinary matters,
the listing and delisting of securities, regulatory programs,
rulemaking and regulatory rules, including trading rules.\30\ The
Commission notes that the proposed CFR incorporates the salient
features of the current CFR, including the requirement that the CFR be
comprised of both Exchange directors who satisfy the Exchange's
independence requirements,\31\ as well as persons who are not
directors, and that a majority of the members of the CFR voting on a
matter subject to a vote of the CFR must be directors of the
Exchange.\32\ As such, the Commission finds that the Exchange's
proposed revisions to its appellate procedure for disciplinary matters
and for determinations to limit or prohibit the continued listing of an
issuer's securities on the Exchange ensures sufficient independence of
the appellate function of the Exchange, and therefore helps to ensure
that the exchange is organized and has the capacity to carry out the
purposes of the Act, as required by Section 6(b)(1) of the Act.\33\
---------------------------------------------------------------------------

    \27\ See Notice, supra note 4, at 79118.
    \28\ See id. at 79118-19.
    \29\ See id. The Exchange notes that the same categories of NYSE
MKT members that were represented on the Market Performance
Committee and the Regulatory Advisory Committee would be represented
on the proposed CFR. See id.
    \30\ See id.
    \31\ See note 11, supra.
    \32\ See Notice, supra note 4, at 79118.
    \33\ 15 U.S.C. 78f(b)(1).
---------------------------------------------------------------------------

    The Commission also finds that the composition of the proposed CFR
ensures the fair representation of members in the administration of the
Exchange's affairs.\34\ Proposed Section 2.03(h)(iii) of the Exchange's
Operating Agreement provides that, among the persons on the proposed
CFR, who are not directors, at least one individual from each of the
following categories must be on the CFR: (i) Individuals who are
associated with a Member Organization that engages in a business
involving substantial direct contact with securities customers, (ii)
individuals who are associated with a Member Organization and
registered as a DMM or specialist,\35\ and (iii) individuals who are
associated with a Member Organization and have as a substantial part of
their business the execution of transactions on the trading floor of
the Exchange for other than their own account or the account of his or
her Member Organization, but are not registered as a DMM or
specialist.\36\ Because NYSE MKT members will serve on the proposed
CFR, which will be charged with acting in an advisory capacity to the
Board with respect to disciplinary matters, the listing and delisting
of securities, regulatory programs, rulemaking and regulatory rules,
including trading rules, the Commission finds that the proposed rule
change is consistent with Section 6(b)(3) of the Act.\37\
---------------------------------------------------------------------------

    \34\ 15 U.S.C. 78f(b)(3).
    \35\ The Exchange notes that market makers on the Exchange's
equity market are called DMMs and on NYSE Amex Options are called
specialists. See Notice, supra note 4, at 79118 n.9.
    \36\ See id.
    \37\ 15 U.S.C. 78f(b)(3).
---------------------------------------------------------------------------

    The Exchange also proposes to amend Exchange Rule 476(f) to permit
the CFR to appoint an appeals panel, consisting of at least three and
no more than five individuals, which would conduct a review of any
disciplinary determination on behalf of the CFR, and make a
recommendation to the CFR regarding the disposition of such appeal.\38\
According to the Exchange, an appeals panel appointed by the CFR for
equity matters would be composed of at least one director and one
member or individual associated with an equities member organization,
and an appeals panel appointed for options matters would be composed of
at least one director and one member or individual associated with an
options member organization.\39\ The Commission finds that the
Exchange's proposal with respect to the proposed composition and the
role of an appeals panel is consistent with Sections 6(b)(3) and
6(b)(7) of the Act.\40\
---------------------------------------------------------------------------

    \38\ See Notice, supra note 4, at 79119. According to the
Exchange, any such appeals panel would have no other role in the
appellate process. See id.
    \39\ See id.
    \40\ 15 U.S.C. 78f(b)(3) and 15 U.S.C. 78f(b)(7).
---------------------------------------------------------------------------

    Finally, the Commission finds that it is consistent with Section
6(b)(5) of the Act for the Exchange to make various technical and
conforming revisions to its Rules.\41\
---------------------------------------------------------------------------

    \41\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

IV. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the Act,
that the proposed rule change (SR-NYSEMKT-2015-106) is approved.
---------------------------------------------------------------------------

    \42\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\42\
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-02198 Filed 2-4-16; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: November 18, 2009 (Volume 74, Number 221)]
[Proposed Rules]
[Page 59496-59497]
[DOCID:fr18no09-18]

=======================================================================
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ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 52

[EPA-R09-OAR-2009-0470; FRL-8978-2]

Approval and Promulgation of Air Quality Implementation Plans;
California; Motor Vehicle Inspection and Maintenance Program; Proposed
Rule--Notice of Data Availability and Request for Comment

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice of data availability (NODA) and request for comment.

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

SUMMARY: The EPA is providing notice that it has placed in the docket
for the proposed rulemaking concerning California's June 5, 2009 Motor
Vehicle Inspection and Maintenance (I/M) program submittal additional
modeling data relevant to the proposed rulemaking, published on August
19, 2009. The August 19, 2009 notice established a 30-day comment
period on EPA's proposal, which ended on September 18, 2009. EPA is
reopening the comment period to end on December 2, 2009. The purpose of
this notice is to provide the public an opportunity to review and
comment on the additional modeling data, which were described in the
proposed rulemaking notice and are further described below.
    Readers should note that only comments about the new modeling data
discussed in this document and related issues will be considered during
the comment period. Issues related to the August 19, 2009 proposed rule
that are not directly affected by the data referenced in this Notice of
Data Availability are not open for further comment.

DATES: EPA will accept comments on the modeling data and related issues
until December 2, 2009.

ADDRESSES: Submit your comments, identified by Docket ID No. EPA-R09-
OAR-2009-0470, by one of the following methods:
    1. Federal eRulemaking Portal: http://www.regulations.gov. Follow
the on-line instructions.
    2. E-mail<EMAIL_ADDRESS>    3. Mail or deliver: Jeffrey Buss (Air-2), U.S. Environmental
Protection Agency Region IX, 75 Hawthorne Street, San Francisco, CA
94105-3901.
    Instructions: All comments will be included in the public docket
without change and may be made available online at http://
www.regulations.gov, including any personal information provided,
unless the comment includes Confidential Business Information (CBI) or
other information whose disclosure is restricted by statute.
Information that you consider CBI or otherwise protected should be
clearly identified as such and should not be submitted through http://
www.regulations.gov or e-mail. The http://www.regulations.gov portal is
an ``anonymous access'' system, which means EPA will not know your
identity or contact information unless you provide it in the body of
your comment. If you send e-mail directly to EPA without going through
http://www.regulations.gov, your e-mail address will be automatically
captured and included as part of the comment that is placed in the
public docket and made available on the Internet. If you submit an
electronic comment, EPA recommends that you include your name and other
contact information in the body of your comment and with any disc or
CD-ROM you submit. If EPA cannot read your comment due to technical
difficulties and cannot contact you for clarification, EPA may not be
able to consider your comment. Electronic files should avoid the use of
special characters, any form of encryption, and be free of any defects
or viruses.
    Docket: All documents in the electronic docket are listed in the
http://www.regulations.gov index. Although listed in the index, some
information is not publicly available, i.e., CBI or other information
whose disclosure is restricted by statute. Certain other material, such
as copyrighted material, is not placed on the Internet and will be
publicly available only in hard copy form. Publicly available docket
materials are available either electronically in http://
www.regulations.gov or in hard copy at EPA Region IX, 75 Hawthorne
Street, San Francisco, California. To inspect the hard copy materials,
please schedule an appointment during normal business hours with the
contact listed in the FOR FURTHER INFORMATION CONTACT section.

FOR FURTHER INFORMATION CONTACT: Jeffrey Buss, EPA Region IX, (415)
947-4152<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: Throughout this document, the terms ``we'',
``us'', and ``our'' refer to EPA.
    On August 19, 2009 (74 FR 41818), EPA proposed to approve state
implementation plan (SIP) revisions submitted by the California Air
Resources Board (CARB) on June 5, 2009 relating to the State's basic
and enhanced vehicle I/M program (``2009 I/M Revision'') contingent
upon California's submittal of revisions to the enhanced program
performance standard evaluations to address a different attainment year
for the Western Mojave Desert 8-hour ozone nonattainment area and to
address California's base-year program performance.
    As explained in the August 19, 2009 proposal, these revisions to
California's enhanced program performance standard evaluation were
necessary for two reasons. First, the submitted performance modeling
evaluation for the Western Mojave Desert 8-hour ozone nonattainment
area was based on the State's choice of 2020 as the horizon year, based
on the attainment deadline for 8-hour ozone nonattainment areas
classified as ``severe-17.'' \1\ Because EPA interprets CAA section
181(b)(3) as disallowing state requests to reclassify ozone
nonattainment areas to ``severe-17,'' we noted that the State must
submit a revised modeling evaluation

based on a more appropriate horizon year for this area. 74 FR 41818-
41823.
---------------------------------------------------------------------------

    \1\ By letter dated February 14, 2008, CARB requested
reclassification of the Western Mojave Desert 8-hour ozone
nonattainment area to ``severe-17.'' Western Mojave Desert is
currently classified as a ``moderate'' nonattainment area for the 8-
hour ozone standard. 40 CFR 81.305.
---------------------------------------------------------------------------

    Second, CARB did not provide base year modeling evaluations for the
six areas in the State that are subject to the enhanced I/M
requirements in 40 CFR part 51, subpart S. The six areas are the South
Coast Air Basin, San Joaquin Valley, Western Mojave Desert, Sacramento
Metro, Coachella Valley, and Ventura County. We noted that a base year
modeling run is required to allow for a more definitive conclusion that
the California enhanced I/M program obtained the same or lower emission
levels as the EPA model program by January 1, 2002, and that the
program will maintain this level of emission reduction (or better)
through the applicable 8-hour ozone attainment deadlines, as required
by 40 CFR 51.351(f). Based on our preliminary modeling analyses and
evaluation of the data provided in CARB's submittal, however, we noted
that we expect these revised modeling evaluations will satisfy the
regulatory requirements. 74 FR 41818-41823. In our proposed rule, we
indicated that we would notify the public of any additional information
that is provided to address these issues. Publication of this NODA is
intended to serve this purpose.
    On October 28, 2009, CARB submitted the revised enhanced I/M
performance modeling analyses described above. We placed the analyses
in the docket on October 29, 2009. Specifically, CARB submitted (1)
revised enhanced program performance standard evaluations for the
Western Mojave Desert area based on a horizon year of 2018, and (2)
2002 base year performance modeling evaluations for the six areas in
the State that are subject to the enhanced I/M requirements in 40 CFR
part 51, subpart S (the South Coast Air Basin, San Joaquin Valley,
Western Mojave Desert, Sacramento Metro, Coachella Valley, and Ventura
County). We find that selection of year 2018 by California as the
``year before the attainment year'' for Western Mojave Desert for
enhanced performance modeling purposes is acceptable on the presumption
that CARB will amend its voluntary reclassification request from
``severe-17'' to ``severe-15.'' We interpret section 181(b)(3) to allow
for voluntary reclassification by a state to the latter, but not the
former.
    We have also reviewed the submitted modeling data and find that the
inputs to the MOBILE6.2 model accurately reflect the California I/M
program. Based on the modeling results for Western Mojave Desert
submitted on October 28, 2009, together with the performance standard
modeling results contained in the 2009 I/M Revision, we believe that
California has now demonstrated that the California I/M program would
achieve greater percent emissions reductions (relative to the no I/M
scenario) for VOC and NOX in each of the six areas in the
year before the attainment year than would the EPA model enhanced I/M
program in 2002.
    Moreover, the modeling results for the California I/M program in
2002 show that the California program achieved greater percent
emissions reductions (relative to the no I/M scenario) for VOC and
NOX in each of the six areas than the EPA model enhanced I/M
program in 2002. Thus, in view of the results of both the base year and
horizon year modeling results, we believe that the analyses submitted
by CARB on October 28, 2009 support the conclusion that the California
I/M program will maintain a greater percent emissions reduction in all
six subject areas (relative to the no I/M scenario) than would the
Federal I/M program in the base year, thereby meeting the enhanced I/M
performance standard in 40 CFR 51.351(f) and supporting full approval
of the 2009 I/M Revision. EPA is today providing notice and opportunity
to comment on these revised modeling evaluations, which are available
in the docket for the proposed action.

    Dated: October 30, 2009.
Enrique Manzanilla,
Acting Regional Administrator, Region IX.
[FR Doc. E9-27669 Filed 11-17-09; 8:45 am]

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[Federal Register Volume 86, Number 160 (Monday, August 23, 2021)]
[Notices]
[Pages 47117-47118]
[FR Doc No: 2021-18073]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2013-D-1464]

Bioequivalence Studies With Pharmacokinetic Endpoints for Drugs
Submitted Under an Abbreviated New Drug Application; Draft Guidance for
Industry; Availability

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice of availability.

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SUMMARY: The Food and Drug Administration (FDA or Agency) is announcing
the availability of a revised draft guidance for industry entitled
``Bioequivalence Studies With Pharmacokinetic Endpoints for Drugs
Submitted Under an ANDA.'' This revised draft supersedes the draft
guidance entitled ``Bioequivalence Studies With Pharmacokinetic
Endpoints for Drug Products Submitted Under an ANDA,'' which was
announced in the Federal Register on December 5, 2013. This revised
draft guidance provides recommendations to applicants planning to
include bioequivalence (BE) information in abbreviated new drug
applications (ANDAs) and ANDA supplements. In addition, this guidance
describes how to meet the BE requirements set forth in the Federal
Food, Drug, and Cosmetic Act (FD&C Act) and FDA regulations.

DATES: Submit either electronic or written comments on the draft
guidance by October 22, 2021 to ensure that the Agency considers your
comment on this draft guidance before it begins work on the final
version of the guidance.

ADDRESSES: You may submit comments on any guidance at any time 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-

2013-D-1464 for ``Bioequivalence Studies With Pharmacokinetic Endpoints
for Drugs Submitted Under an ANDA.'' Received comments 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.'' The Agency 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 to 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 this 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>.
    You may submit comments on any guidance at any time (see 21 CFR
10.115(g)(5)).
    Submit written requests for single copies of the draft guidance to
the Division of Drug Information, Center for Drug Evaluation and
Research, Food and Drug Administration, 10001 New Hampshire Ave.,
Hillandale Building, 4th Floor, Silver Spring, MD 20993-0002. Send one
self-addressed adhesive label to assist that office in processing your
requests. See the SUPPLEMENTARY INFORMATION section for electronic
access to the draft guidance document.

FOR FURTHER INFORMATION CONTACT: David Coppersmith, Center for Drug
Evaluation and Research, Food and Drug Administration, 10903 New
Hampshire Ave., Bldg. 75, Rm. 1673, Silver Spring, MD 20993-0002, 301-
796-9193.

SUPPLEMENTARY INFORMATION:

I. Background

    FDA is announcing the availability of a revised draft guidance for
industry entitled ``Bioequivalence Studies With Pharmacokinetic
Endpoints for Drugs Submitted Under an ANDA.'' The revised draft
guidance supersedes the draft guidance ``Bioequivalence Studies With
Pharmacokinetic Endpoints for Drugs Submitted Under an ANDA,'' which
was announced in the Federal Register on December 5, 2013 (78 FR
73199). FDA received nine comments on the draft guidance, which were
considered before publication of this revised draft guidance.
    This revised draft guidance provides recommendations to applicants
planning to include BE information in ANDAs and ANDA supplements. In
addition, this guidance describes how to meet the BE requirements set
forth in the FD&C Act and FDA regulations. This guidance is generally
applicable to dosage forms intended for oral administration and to non-
orally administered drug products in which reliance on systemic
exposure measures is suitable for documenting BE (e.g., transdermal
delivery systems and certain rectal and nasal drug products). This
guidance will also be useful to applicants planning BE studies intended
to be conducted during the post-approval period for changes to a drug
product approved in an ANDA. FDA recommends that applicants consult
this revised draft guidance, in conjunction with any relevant product-
specific guidances for industry, when considering the appropriate BE
study and/or other studies for a proposed drug product.
    This revised draft guidance is being issued consistent with FDA's
good guidance practices regulation (21 CFR 10.115). The revised draft
guidance, when finalized, will represent the current thinking of FDA on
``Bioequivalence Studies With Pharmacokinetic Endpoints for Drugs
Submitted Under an ANDA.'' It does not establish any rights for any
person and is not binding on FDA or the public. You can use an
alternative approach if it satisfies the requirements of the applicable
statutes and regulations.

II. Paperwork Reduction Act of 1995

    FDA tentatively concludes that this draft guidance contains no
collection of information. Therefore, clearance by the Office of
Management and Budget under the Paperwork Reduction Act of 1995 is not
required.

III. Electronic Access

    Persons with access to the internet may obtain the draft guidance
at https://www.fda.gov/drugs/guidance-compliance-regulatory-information/guidances-drugs, https://www.fda.gov/regulatory-information/search-fda-guidance-documents, or https://www.regulations.gov.

    Dated: August 18, 2021.
Lauren K. Roth,
Acting Principal Associate Commissioner for Policy.
[FR Doc. 2021-18073 Filed 8-20-21; 8:45 am]
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[Federal Register: October 12, 2010 (Volume 75, Number 196)]
[Notices]
[Page 62516-62517]
[DOCID:fr12oc10-50]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 12626-002]

Northern Illinois Hydropower, LLC; Notice of Application Ready
for Environmental Analysis and Soliciting Comments, Recommendations,
Terms and Conditions, and Prescriptions

October 4, 2010.
    Take notice that the following hydroelectric application has been
filed with the Commission and is available for public inspection.
    a. Type of Application: Original major license.
    b. Project No.: 12626-002.
    c. Date filed: March 31, 2009.
    d. Applicant: Northern Illinois Hydropower, LLC.
    e. Name of Project: Dresden Island Project.
    f. Location: U.S. Army Corps of Engineers' Dresden Island Lock and
Dam on the Illinois River, in the Town of Morris, Grundy County,
Illinois.
    g. Filed Pursuant to: Federal Power Act, 16 U.S.C. 791 (a)-825(r).
    h. Applicant Contact: Damon Zdunich, Northern Illinois Hydropower,
LLC, 801 Oakland Avenue, Joliet, IL 60435,<PHONE_NUMBER>.
    i. FERC Contact: Janet Hutzel,<PHONE_NUMBER> or
<EMAIL_ADDRESS>    j. Deadline for filing comments, recommendations, terms and
conditions, and prescriptions is 60 days from the issuance of this
notice: Reply comments are due 105 days from the issuance date of this
notice.
    All documents may be filed electronically via the Internet. See 18
CFR 385.2001(a)(1)(iii) and the instructions on the Commission's Web
site http://www.ferc.gov/docs-filing/efiling.asp. Commenters can submit
brief comments up to 6,000 characters, without prior registration,
using the eComment system at http://www.ferc.gov/docs-filing/
ecomment.asp. You must include your name and contact information at the
end of your comments. For assistance, please contact FERC Online
Support. Although the Commission strongly encourages electronic filing,
documents may also be paper-filed. To paper-file, mail an original and
seven copies to: Kimberly D. Bose, Secretary, Federal Energy Regulatory
Commission, 888 First Street, NE., Washington, DC 20426.
    The Commission's Rules of Practice require all intervenors filing
documents with the Commission to serve a copy of that document on each
person on the official service list for the project. Further, if an
intervenor files comments or documents with the Commission relating to
the merits of an issue that may affect the responsibilities of a
particular resource agency, they must also serve a copy of the document
on that resource agency.
    k. This application has been accepted and is now ready for
environmental analysis.
    l. Project Description: The Dresden Island Project would utilize
the Corps of Engineers' existing Dresden Island Lock and Dam and would
consist of: (1) A new 75-foot by 125-foot concrete powerhouse, located
between headgate sections 10 through 16, containing three generating
units with a total installed capacity of 10.2 MW; (2) a new 50-foot by
50-foot switchyard adjacent to powerhouse building; (3) a new 0.8-mile-
long transmission line; and (4) appurtenant facilities. The project
would have an average annual generation of about 60,000 megawatt-hours.
    m. A copy of the application is available for review at the
Commission in the Public Reference Room or may be viewed on the
Commission's Web site at http://www.ferc.gov using the ``eLibrary''
link. Enter the docket number excluding the last three digits in the
docket number field to access the document. For assistance, contact
FERC Online Support. A copy is also available for inspection and
reproduction at the address in item h above.

    All filings must (1) Bear in all capital letters the title
``COMMENTS,'' ``REPLY COMMENTS,'' ``RECOMMENDATIONS,'' ``TERMS AND
CONDITIONS,'' or ``PRESCRIPTIONS;'' (2) set forth in the heading the
name of the applicant and the project number of the application to
which the filing responds; (3) furnish the name, address, and telephone
number of the person submitting the filing; and (4) otherwise comply
with the requirements of 18 CFR 385.2001 through 385.2005. All
comments, recommendations, terms and conditions or prescriptions must
set forth their evidentiary basis and otherwise comply with the
requirements of 18 CFR 4.34(b). Agencies may obtain copies of the
application directly from the applicant. Each filing must be
accompanied by proof of service on all persons listed on the service
list prepared by the Commission in this proceeding, in accordance with
18 CFR 4.34(b), and 385.2010.
    You may also register online at http://www.ferc.gov/docs-filing/
esubscription.asp to be notified via e-mail of new filings and
issuances related to this or other pending projects. For assistance,
contact FERC Online Support.
    n. Public notice of the filing of the initial development
application, which has already been given, established the due date for
filing competing applications or notices of intent. Under the
Commission's regulations, any competing development application must be
filed in response to and in compliance with public notice of the
initial development application. No competing applications or notices
of intent may be filed in response to this notice.
    o. A license applicant must file no later than 60 days following
the date of issuance of this notice: (1) A copy of the water quality
certification; (2) a copy of the request for certification, including
proof of the date on which the certifying agency received the request;
or (3) evidence of waiver of water quality certification.

Kimberly D. Bose,
Secretary.
[FR Doc. 2010-25516 Filed 10-8-10; 8:45 am]
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