Regulation 14N and Schedule 14N 30 Day Federal Register Notice

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Federal Register / Vol. 85, No. 111 / Tuesday, June 9, 2020 / Notices

The RG, entitled ‘‘Guidance for a
Technology-Inclusive, Risk-Informed,
and Performance-Based Methodology to
Inform the Licensing Basis and Content
of Applications for Licenses,
Certifications, and Approvals for NonLight Water Reactors,’’ endorses, with
clarifications, the principles and
methodology in the Nuclear Energy
Institute (NEI) guidance document NEI
18–04, ‘‘Risk-Informed PerformanceBased Guidance for Non-Light Water
Reactor Licensing Basis Development,’’
as one acceptable method for
determining the appropriate scope and
level of detail for parts of applications
for licenses, certifications, and
approvals for non-LWRs. NEI 18–04
outlines an approach for use by reactor
developers to select licensing basis
events; classify structures, systems, and
components; determine special
treatments and programmatic controls;
and assess the adequacy of a design in
terms of providing layers of defense in
depth. These actions are fundamental to
the safe design of non-LWRs. The
methodology described in NEI 18–04
and the RG also provide a general
methodology for identifying an
appropriate scope and depth of
information to be provided in
applications to the NRC for licenses,
certifications, and approvals for nonLWRs required under part 50 of title 10
of the Code of Federal Regulations (10
CFR), ‘‘Domestic Licensing of
Production and Utilization Facilities,’’
and 10 CFR part 52, ‘‘Licenses,
Certifications, and Approvals for
Nuclear Power Plants.’’
II. Additional Information
The NRC published a notice of the
availability of DG–1353 in the Federal
Register on May 3, 2019 (84 FR 19132),
for a 60-day public comment period.
The public comment period closed on
July 2, 2019. Public comments on DG–
1353 and the staff responses to the
public comments are available under
ADAMS under Accession No.
ML20091L696.

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III. Congressional Review Act
This RG is a rule as defined in the
Congressional Review Act (5 U.S.C.
801–808). However, the Office of
Management and Budget has not found
it to be a major rule as defined in the
Congressional Review Act.
IV. Backfitting, Issue Finality, and
Forward Fitting
RG 1.233 provides guidance for
informing the licensing basis and
content of applications for non-LWRs.
The RG does not constitute regulatory
requirements. For this reason, the

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issuance of RG 1.233 does not constitute
backfitting as defined in 10 CFR 50.109,
‘‘Backfitting,’’ and as described in NRC
Management Directive 8.4,
‘‘Management of Backfitting, Forward
Fitting, Issue Finality, and Information
Requests;’’ affect issue finality of any
approval issued under 10 CFR part 52;
or constitute forward fitting as defined
in Management Directive 8.4. Future
applicants may choose to follow the
guidance or utilize another approach in
developing applications for licenses,
certifications, or approvals.
Dated: June 3, 2020.
For the Nuclear Regulatory Commission.
Meraj Rahimi,
Chief, Regulatory Guidance and Generic
Issues Branch, Division of Engineering, Office
of Nuclear Regulatory Research.
[FR Doc. 2020–12402 Filed 6–8–20; 8:45 am]
BILLING CODE 7590–01–P

NUCLEAR REGULATORY
COMMISSION
[NRC–2020–0001]

Sunshine Act Meetings
FEDERAL REGISTER CITATION OF PREVIOUS
ANNOUNCEMENT: 85 FR 34660, June 5,

2020.
PREVIOUSLY ANNOUNCED TIME AND DATE OF
THE MEETING: 2:30 p.m., Thursday, June

4, 2020.
Cancelled:
Affirmation Session—Entergy Nuclear
Operations, Inc., Entergy Nuclear
Generation Co., Holtec International,
and Holtec Decommissioning
International, LLC (Pilgrim Nuclear
Power Station)—Petitions for
Intervention.

CHANGES IN THE MEETING:

CONTACT PERSON FOR MORE INFORMATION:

Denise McGovern at 301–415–0681 or
via email at [email protected].
Dated: June 5, 2020.
For the Nuclear Regulatory Commission.
Denise L. McGovern
Policy Coordinator, Office of the Secretary.
[FR Doc. 2020–12591 Filed 6–5–20; 4:15 pm]
BILLING CODE 7590–01–P

SECURITIES AND EXCHANGE
COMMISSION
SEC File No. 270–598, OMB Control No.
3235–0655

Submission for OMB Review;
Comment Request
Upon Written Request Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,

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100 F Street NE, Washington, DC
20549–2736.
Extension:
Regulation 14N and Schedule 14N

Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.), the Securities
and Exchange Commission
(‘‘Commission’’) has submitted to the
Office of Management and Budget this
request for extension of the previously
approved collection of information
discussed below.
Schedule 14N (17 CFR 240.14n–101)
requires the filing of certain information
with the Commission by shareholders
who submit a nominee or nominees for
director pursuant to applicable state
law, or a company’s governing
documents. Schedule 14N provides
notice to the company of the
shareholder’s or shareholder group’s
intent to have the company include the
shareholder’s or shareholder group’s
nominee or nominees for director in the
company’s proxy materials. This
information is intended to assist
shareholders in making an informed
voting decision with regards to any
nominee or nominees put forth by a
nominating shareholder or group, by
allowing shareholders to gauge the
nominating shareholder’s interest in the
company, longevity of ownership, and
intent with regard to continued
ownership in the company. We estimate
that Schedule 14N takes approximately
40 hours per response and will be filed
by approximately 10 issuers annually.
In addition, we estimate that 75% of the
40 hours per response (30 hours per
response) is prepared by the issuer for
an annual reporting burden of 300 hours
(30 hours per response × 10 responses).
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless it displays a currently valid
control number.
The public may view background
documentation for this information
collection at the following website:
www.reginfo.gov. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function. Written comments and
recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice to (i) www.reginfo.gov/public/do/
PRAMain and (ii) David Bottom,
Director/Chief Information Officer,
Securities and Exchange Commission,
c/o Cynthia Roscoe, 100 F Street NE,
Washington, DC 20549, or by sending an
email to: [email protected].

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Federal Register / Vol. 85, No. 111 / Tuesday, June 9, 2020 / Notices
Dated: June 3, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–12398 Filed 6–8–20; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–89001; File No. SR–
CboeEDGA–2020–015]

Self-Regulatory Organizations; Cboe
EDGA Exchange, Inc.; Notice of Filing
and Immediate Effectiveness of a
Proposed Rule Change To Allow
Members and Clearing Members To
Establish or Adjust the Risk Settings
Set Forth in Interpretation and Policy
.03 of Exchange Rule 11.10 on a Risk
Group Identifier Basis
June 3, 2020.

Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on May 22,
2020, Cboe EDGA Exchange, Inc. (the
‘‘Exchange’’) filed with the Securities
and Exchange Commission (the
‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by the Exchange. The Exchange filed the
proposal as a ‘‘non-controversial’’
proposed rule change pursuant to
Section 19(b)(3)(A)(iii) of the Act 3 and
Rule 19b–4(f)(6) thereunder.4 The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.

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I. Self-Regulatory Organization’s
Statement of the Terms of the Substance
of the Proposed Rule Change
Cboe EDGA Exchange, Inc. (‘‘EDGA’’
or the ‘‘Exchange’’) is filing with the
Securities and Exchange Commission
(the ‘‘Commission’’) a proposed rule
change to allow Members and Clearing
Members to establish or adjust the risk
settings set forth in Interpretation and
Policy .03 of Exchange Rule 11.10 on a
risk group identifier basis. The text of
the proposed rule change is provided in
Exhibit 5.
The text of the proposed rule change
is also available on the Exchange’s
website (http://markets.cboe.com/us/
equities/regulation/rule_filings/edga/),
at the Exchange’s Office of the
Secretary, and at the Commission’s
Public Reference Room.
1 15

U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(iii).
4 17 CFR 240.19b–4(f)(6).
2 17

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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 offer Members 5 and
Clearing Members 6 a more granular
option to manage their credit risk in
equity securities. Specifically, the
Exchange proposes to allow Members
and Clearing Members to establish a risk
profile(s) on a risk group identifier basis
that would apply the risk settings
offered in Interpretation and Policy .03
of Exchange Rule 11.10 to a subset of
orders.
Recently, the Exchange adopted
Interpretation and Policy .03 to
Exchange Rule 11.10 which provides
Members certain optional risk settings.7
As set forth in paragraph (a), the
Exchange currently offers the Gross
Credit Risk Limit 8 and Net Credit Risk
Limit 9 that are applicable to a Member’s
activities on the Exchange and are
available to either the Member or its
Clearing Member. Specifically, pursuant
to paragraph (c), a Member that does not
self-clear may allocate the responsibility
5 See

Exchange Rule 1.5(n).
‘‘Clearing Member’’ refers to a Member that
is also a member of a Qualified Clearing Agency
and clears transactions on behalf of another
Member. See Exchange Rule 11.13(a).
7 See Securities Exchange Act No. 88727 (April
22, 2020) 85 FR 23560 (April 28, 2020) (the
‘‘Original Filing’’).
8 The ‘‘Gross Credit Risk Limit’’ refers to a preestablished maximum daily dollar amount for
purchases and sales across all symbols, where both
purchases and sales are counted as positive values.
For purposes of calculating the Gross Credit Risk
Limit, only executed orders are included. See
Interpretation and Policy .03(a)(1) of Exchange Rule
11.10.
9 The ‘‘Net Credit Risk Limit’’ refers to a preestablished maximum daily dollar amount for
purchases and sales across all symbols, where
purchases are counted as positive values and sales
are counted as negative values. For purposes of
calculating the Net Credit Risk Limit, only executed
orders are included. See Interpretation and Policy
.03(a)(2) of Exchange Rule 11.10.
6A

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of establishing and adjusting the
applicable risk settings to its Clearing
Member. Further, paragraph (b)(1)
provides that the risk limits may only be
set at the market participant identifier
(‘‘MPID’’) level. Now, the Exchange is
proposing to amend paragraph (b)(1) to
provide that the Gross Credit Risk Limit
and Net Credit Risk Limit may be set at
the MPID level or at a more granular risk
profile level. The Exchange believes the
proposed functionality will provide an
effective tool for Members and Clearing
Members to manage their credit risk
associated with equities trading.
As provided in the Original Filing, a
Member can allocate responsibility for
establishing and adjusting the
applicable risk settings to its Clearing
Member on an MPID basis via the
Exchange’s web portal. The proposal
would allow a Member or its Clearing
Member, if allocated such
responsibility, to utilize ‘‘Purge Ports’’
to apply Gross Credit Risk Limits and/
or Net Credit Risk Limits to more
granular subsets of orders associated
with the relevant MPID.10 The Exchange
believes the proposal will allow for
proactive and reactive risk management
and may be useful to firms operating
multiple strategies at a given time, those
operating multiple groups under a
single MPID with disparate risk profiles,
or Sponsoring Members 11 managing
risk on behalf of a Sponsored
Participant.12 Specifically, Members or
Clearing Members may assign a risk
group identifier to a specific strategy,
group, or Sponsored Participant and
then set up a risk profile applicable to
that risk group identifier. Without such
functionality, the Member or its
Clearing Member would only be able to
manage risk at the MPID level.
A ‘‘Purge Port’’ is a dedicated port
that permits a User to simultaneously
cancel all or a subset of its orders in one
or more symbols across multiple logical
10 The risk group identifier is a subset level of an
MPID. Members can use MPID and risk group
identifier risk settings in conjunction.
11 See Exchange Rule 1.5(aa).
12 See Exchange Rule 1.5(z). As noted in the
Original Filing, the Exchange does not guarantee
that the proposed risk settings described in
proposed Interpretation and Policy .03, are
sufficiently comprehensive to meet all of a
Member’s risk management needs. Pursuant to Rule
15c3–5 under the Act, a broker-dealer with market
access must perform appropriate due diligence to
assure that controls are reasonably designed to be
effective, and otherwise consistent with the rule.
Use of the Exchange’s risk settings included in
proposed Interpretation and Policy .03 will not
automatically constitute compliance with Exchange
or federal rules and responsibility for compliance
with all Exchange and SEC rules remains with the
Member. See supra note 7.

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