Notice of Public Meeting, 70755-70756 [2010-29133]
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Federal Register / Vol. 75, No. 222 / Thursday, November 18, 2010 / Notices
established by the Governors.1 The
change affects bundle and container
charges for Outside County Periodicals
pieces in combined mailings of
Standard Mail and Periodicals. Id. at 1.
An attachment to the Notice presents
conforming revisions to the Mail
Classification Schedule (MCS). These
revisions affect Periodicals MCS section
1320.4, Price Categories. They do not
affect any Standard Mail sections in the
MCS, nor do they affect any Within
County MCS sections. The Notice does
not provide a date certain for the
planned change.
II. Additional Details
Relationship to co-mailing and copalletizing. The Postal Service notes
that the planned change means that
when bundles or containers include
both Standard Mail and Periodicals
pieces, the Outside County Periodicals
bundle and container prices apply based
on the proportion of Periodicals pieces
in bundles or weight in the container.
Id. It explains:
Specifically, mailers using the Mixed Class
preparation option may combine Standard
Mail and Periodicals mailpieces within the
same bundle (comail), or combine separate
same-class bundles on the same pallet
(copalletize), to maximize presorting or to
qualify for deeper destination entry
discounts.
Id.
The Postal Service asserts, without
elaboration, that the changes provide ‘‘a
fair price application for Mixed Class
mailings of Standard Mail and
Periodicals.’’ Id. In a similar vein, it also
asserts that it believes the changes are
consistent with 39 U.S.C. 3642 and
should be incorporated by the
Commission into the MCS. Id.
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III. Commission Analysis and Initial
Action
Rules 3020.90 and 91, which the
Postal Service cites as the
administrative vehicle for its filing, are
part of Subpart E of Part 3020—Product
Lists. This subpart is captioned
‘‘Requests Initiated by the Postal Service
to Change the Mail Classification
Schedule.’’ The first two individual
rules within this subpart address Postal
Service responsibilities. They require
that the Postal Service assure that
product descriptions in the MCS
accurately reflect current offerings
(§ 3020.90) and submit corrections that
do not constitute a proposal to modify
the product lists by filing a notice of the
1 Notice of the United States Postal Service of
Classification Change Related to Combined
Mailings of Standard Mail and Periodicals,
November 5, 2010 (Notice).
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16:56 Nov 17, 2010
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proposed change no later than 15 days
prior to effective date (§ 3020.91).
The remaining two rules address
Commission responsibilities. They
require the Commission to publish the
proposed change on its Web site and
provide interested persons with an
opportunity to comment on the
consistency of the planned change with
39 U.S.C. 3642 (§ 3020.92). They also
require the Commission to review the
change and comments and, upon a
finding that there is no inconsistency
with 39 U.S.C. 3642, to change the MCS
to coincide with the effective date of the
change (§ 3020.93(a)).
The rules in Subpart E were adopted
as part of a series of rulemakings
implementing the Postal Accountability
and Enhancement Act (PAEA) of 2006.
At the time, the Commission viewed
Subpart E as a vehicle for minor
classification changes. The Postal
Service’s Notice indicates that it
considers Subpart E as an appropriate
vehicle for effecting the modification
proposed here, which it characterizes as
a matter of rate application for practices
associated with co-mailing and copalletizing in mixed class mailings.
The Commission interprets the Postal
Service’s presentation of proposed MCS
revisions and its assertion regarding
consistency with 39 U.S.C. 3642, which
addresses changes to the product lists,
as a demonstration of its interest in
facial compliance with Subpart E
requirements and the apparent lack of
other viable alternatives under the
existing administrative framework.
With the perspective gained over the
past few years, it appears that Subpart
E may not be optimally suited for the
type of change the Postal Service
proposes here. This is because the
proposal may have rate and price cap
implications, raising questions about
how the Commission’s compliance
function will be affected. At the same
time, it is also appears that no practical
alternative exists for expedited
consideration of the proposal, and that
compliance concerns can be addressed,
at least preliminarily, in the context of
this case.
The Commission therefore establishes
Docket No. MC2011–5, Modification of
Mail Classification Schedule Regarding
Combined Mailings of Standard Mail
and Periodicals, to address the Postal
Service’s filing. In conformance with
rule 3020.92, the planned change
appears on the Commission’s Web site.
In addition, the Notice will be
published in the Federal Register. The
Commission invites interested persons
to comment on the consistency of the
change with 39 U.S.C. 3622 and 3642.
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70755
Comments are due no later than
November 24, 2010.
In conformance with 39 U.S.C. 505,
the Commission appoints Robert N.
Sidman to represent the interests of the
general public in this proceeding.
IV. Ordering Paragraphs
It is ordered:
1. The Commission establishes Docket
No. MC2011–5, Modification of Mail
Classification Schedule Regarding
Combined Mailings of Standard Mail
and Periodicals, for consideration of
matters raised in the Postal Service’s
Notice.
2. Pursuant to 39 U.S.C. 505, Robert
N. Sidman is designated officer of the
Commission (Public Representative) to
represent the interests of the general
public in this proceeding.
3. Comments are due no later than
November 24, 2010.
4. The Secretary shall arrange for
publication of this notice and order in
the Federal Register.
By the Commission.
Shoshana M. Grove,
Secretary.
[FR Doc. 2010–29083 Filed 11–17–10; 8:45 am]
BILLING CODE P
PRESIDIO TRUST
Notice of Public Meeting
The Presidio Trust.
Notice of Public Meeting.
AGENCY:
ACTION:
In accordance with § 103(c)(6)
of the Presidio Trust Act, 16 U.S.C.
460bb appendix, and in accordance
with the Presidio Trust’s bylaws, notice
is hereby given that a public meeting of
the Presidio Trust Board of Directors
will be held commencing 6:30 p.m. on
Wednesday, December 8, 2010, at the
Golden Gate Club, 135 Fisher Loop,
Presidio of San Francisco, California.
The Presidio Trust was created by
Congress in 1996 to manage
approximately eighty percent of the
former U.S. Army base known as the
Presidio, in San Francisco, California.
The purposes of this meeting are to
approve minutes of a previous Board
meeting, to provide the Executive
Director’s report, to provide the
Chairperson’s report, to provide the
Finance and Audit Committee report, to
approve a Revised Fiscal Year 2011
Budget Forecast and Five-Year
Construction Plan, to provide project
updates, and to receive public comment
on other matters in accordance with the
Trust’s Public Outreach Policy.
Individuals requiring special
accommodation at this meeting, such as
SUMMARY:
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70756
Federal Register / Vol. 75, No. 222 / Thursday, November 18, 2010 / Notices
needing a sign language interpreter,
should contact Mollie Matull at
415.561.5300 prior to December 1, 2010.
Time: The meeting will begin at 6:30
p.m. on Wednesday, December 8, 2010.
ADDRESSES: The meeting will be held at
the Golden Gate Club, 135 Fisher Loop,
Presidio of San Francisco.
FOR FURTHER INFORMATION CONTACT:
Karen Cook, General Counsel, the
Presidio Trust, 34 Graham Street, P.O.
Box 29052, San Francisco, California
94129–0052, Telephone: 415.561.5300.
Dated: November 12, 2010.
Karen A. Cook,
General Counsel.
[FR Doc. 2010–29133 Filed 11–17–10; 8:45 am]
BILLING CODE 4310–4R–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–63309; File No. SR–MSRB–
2010–16]
Self-Regulatory Organizations;
Municipal Securities Rulemaking
Board; Notice of Filing of Amendments
to Rule G–5, on Disciplinary Actions by
Appropriate Regulatory Agencies,
Remedial Notices by Registered
Securities Associations; and Rule G–
17, on Conduct of Municipal Securities
Activities
November 12, 2010.
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 November
1, 2010, the Municipal Securities
Rulemaking Board (‘‘Board’’ or ‘‘MSRB’’)
filed with the Securities and Exchange
Commission (‘‘SEC’’ or ‘‘Commission’’)
the proposed rule change as described
in Items I, II, and III below, which Items
have been prepared by the MSRB. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
mstockstill on DSKH9S0YB1PROD with NOTICES
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The MSRB is filing a proposed rule
change consisting of amendments to
Rule G–5, on disciplinary actions by
appropriate regulatory agencies, and
Rule G–17, the Board’s basic fair
practice rule, to apply the rules to
municipal advisors. The text of the
proposed rule change is available on the
MSRB’s Web site at https://
www.msrb.org/Rules-and1 15
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
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Interpretations/SEC–Filings/2010–
Filings.aspx, at the MSRB’s principal
office, and at the Commission’s Public
Reference Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
MSRB 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 Board has
prepared summaries, set forth in Section
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
Rule G–5 currently provides that
brokers, dealers, and municipal
securities dealers (‘‘dealers’’) may not
engage in municipal securities activities
in contravention of restrictions imposed
on them by the Commission, a
registered securities association, or
another appropriate regulatory agency.
The purposes of the portion of the
proposed rule change consisting of
amendments to Rule G–5 are to remove
a reference to an outdated NASD rule
and to provide that municipal advisors
and their associated persons may not
engage in the municipal advisory
activities described in Section
15B(e)(4)(A)(i) and (ii) of the Act in
contravention of restrictions imposed
upon them by the Commission.
Rule G–17 currently provides that, in
the conduct of its municipal securities
activities, each dealer shall deal fairly
with all persons and shall not engage in
any deceptive, dishonest, or unfair
practice. The purpose of the portion of
the proposed rule change consisting of
amendments to Rule G–17 is to apply
the MSRB’s core fair dealing rule to
municipal advisors in the same manner
that it currently applies to dealers.
2. Statutory Basis
The MSRB believes that the proposed
rule change is consistent with Section
15B(b)(2) of the Act, which provides
that:
The Board shall propose and adopt rules to
effect the purposes of this title with respect
to transactions in municipal securities
effected by brokers, dealers, and municipal
securities dealers and advice provided to or
on behalf of municipal entities or obligated
persons by brokers, dealers, municipal
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securities dealers, and municipal advisors
with respect to municipal financial products,
the issuance of municipal securities, and
solicitations of municipal entities or
obligated persons undertaken by brokers,
dealers, municipal securities dealers, and
municipal advisors.
Section 15B(b)(2)(C) of the Act
provides that the rules of the MSRB
shall:
be designed to prevent fraudulent and
manipulative acts and practices, to promote
just and equitable principles of trade, to
foster cooperation and coordination with
persons engaged in regulating, clearing,
settling, processing information with respect
to, and facilitating transactions in municipal
securities and municipal financial products,
to remove impediments to and perfect the
mechanism of a free and open market in
municipal securities and municipal financial
products, and, in general, to protect
investors, municipal entities, obligated
persons, and the public interest.
The proposed rule change is
consistent with Section 15B(b)(2) of the
Act, because it provides that: (i)
Municipal advisors shall deal fairly
with all persons and not engage in any
deceptive, dishonest, or unfair practice
and (ii) municipal advisors and their
associated persons shall not conduct the
activities described in Section
15B(e)(4)(A)(i) and (ii) of the Act in
contravention of restrictions imposed
upon them by the Commission.
Section 15B(2)(L) of the Act requires
that rules adopted by the Board
not impose a regulatory burden on small
municipal advisors that is not necessary or
appropriate in the public interest and for the
protection of investors, municipal entities,
and obligated persons, provided that there is
robust protection of investors against fraud.
The proposed rule change is
necessary for the robust protection of
investors against fraud. Many municipal
advisors play a key role in the
structuring of offerings of municipal
securities and the preparation of
offering documents used to market those
securities to investors. In some cases,
they advise on the appropriateness of
derivatives entered into by municipal
issuers, the effectiveness of which may
have a substantial impact on the
finances of those issuers. In other cases,
they solicit public pension fund
investment advisory business that, if not
conducted according to the highest
standards, may have a substantial effect
on the finances of the State and local
governments that control those funds.
Investors, therefore, have a substantial
interest in municipal advisors
conducting their municipal advisory
activities fairly, not engaging in
fraudulent conduct, and not engaging in
municipal advisory activities contrary to
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]]>Agencies
[Federal Register Volume 75, Number 222 (Thursday, November 18, 2010)]
[Notices]
[Pages 70755-70756]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-29133]
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PRESIDIO TRUST
Notice of Public Meeting
AGENCY: The Presidio Trust.
ACTION: Notice of Public Meeting.
-----------------------------------------------------------------------
SUMMARY: In accordance with Sec. 103(c)(6) of the Presidio Trust Act,
16 U.S.C. 460bb appendix, and in accordance with the Presidio Trust's
bylaws, notice is hereby given that a public meeting of the Presidio
Trust Board of Directors will be held commencing 6:30 p.m. on
Wednesday, December 8, 2010, at the Golden Gate Club, 135 Fisher Loop,
Presidio of San Francisco, California. The Presidio Trust was created
by Congress in 1996 to manage approximately eighty percent of the
former U.S. Army base known as the Presidio, in San Francisco,
California.
The purposes of this meeting are to approve minutes of a previous
Board meeting, to provide the Executive Director's report, to provide
the Chairperson's report, to provide the Finance and Audit Committee
report, to approve a Revised Fiscal Year 2011 Budget Forecast and Five-
Year Construction Plan, to provide project updates, and to receive
public comment on other matters in accordance with the Trust's Public
Outreach Policy.
Individuals requiring special accommodation at this meeting, such
as
[[Page 70756]]
needing a sign language interpreter, should contact Mollie Matull at
415.561.5300 prior to December 1, 2010.
Time: The meeting will begin at 6:30 p.m. on Wednesday, December 8,
2010.
ADDRESSES: The meeting will be held at the Golden Gate Club, 135 Fisher
Loop, Presidio of San Francisco.
FOR FURTHER INFORMATION CONTACT: Karen Cook, General Counsel, the
Presidio Trust, 34 Graham Street, P.O. Box 29052, San Francisco,
California 94129-0052, Telephone: 415.561.5300.
Dated: November 12, 2010.
Karen A. Cook,
General Counsel.
[FR Doc. 2010-29133 Filed 11-17-10; 8:45 am]
BILLING CODE 4310-4R-P
