Public Meeting To Discuss the Implementation of the North American Standard for Cargo Securement, 51857-51858 [05-17276]
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Federal Register / Vol. 70, No. 168 / Wednesday, August 31, 2005 / Notices
Price Improvement Mechanism (‘‘PIM’’),
or send the order to the Exchange’s limit
order book. If the market maker submits
the order to the PIM and is quoting at
the national best bid or offer (‘‘NBBO’’)
on the opposite side of the Directed
Order, it would be prohibited from
changing its quotation to a price less
favorable than the price available at the
NBBO or reducing the size of its
quotation prior to submitting the
Directed Order to the PIM, unless such
quotation change is the result of an
automated quotation system that
operates independently from the
existence or nonexistence of a pending
Directed Order. If the market maker
sends the order to the Exchange’s limit
order book (or the Exchange system
releases the order to the limit order book
after three seconds) certain restrictions
would apply to a market maker’s ability
to trade with the order depending on
whether the Directed Order is
marketable or not marketable, and
whether the Directed Market Maker is
quoting at the NBBO or not quoting at
the NBBO. In any case, the Directed
Market Maker would be last in priority
when the Directed Order is matched
against contra interest.
After careful consideration, the
Commission finds that the proposed
rule change is consistent with the
requirements of the Act and the rules
and regulations thereunder that are
applicable to a national securities
exchange.5 In particular, the
Commission finds that the proposed
rule change is consistent with Section
6(b)(5) of the Act,6 which requires
among other things, that an exchange
have rules that are designed to foster
cooperation and coordination with
persons engaged in regulating, clearing,
settling, processing information with
respect to, and facilitating transaction in
securities, to remove impediments to
and perfect the mechanism for a free
and open market and a national market
system, and, in general, to protect
investors and the public interest.
The Commission notes that the
proposal is similar to the Directed Order
program currently in place on the
Boston Options Exchange facility
(‘‘BOX’’) of the Boston Stock Exchange,
Inc. (‘‘BSE’’).7 Similar to the program
currently in place on BOX, market
makers receiving Directed Orders must
accept all orders directed to them and
must send such orders only to the PIM
5 In approving this proposed rule change, the
Commission has considered the proposed rule’s
impact on efficiency, competition, and capital
formation. See 15 U.S.C. 78c(f).
6 15 U.S.C. 78f(b)(5).
7 See BSE Rules Chapter VI, Section 5(b) and (c),
and Section 10.
VerDate Aug<18>2005
16:33 Aug 30, 2005
Jkt 205001
or to the Exchange’s limit order book. In
addition, a market maker that receives a
Directed Order when not quoting at the
NBBO as well as when quoting at the
NBBO, would have to wait three
seconds before trading with the Directed
Order. The Directed Order would be
exposed to other market participants to
give them the first opportunity to trade
with the Directed Order. Accordingly,
the Commission believes that the
proposal would not provide any
disincentive for market makers that
receive Directed Orders to quote
competitively.
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,8 that the
proposed rule change (SR–ISE–2004–16)
be, and it hereby is, approved.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.9
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5–4732 Filed 8–30–05; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–52333, File No. SR–MSRB–
2005–13]
Self-Regulatory Organizations;
Municipal Securities Rulemaking
Board; Order Approving Proposed
Rule Change Relating to Official
Statement Delivery Requirements
Under Rule G–32, Rule G–36, and Rule
G–11
August 25, 2005.
On June 23, 2005, the Municipal
Securities Rulemaking Board (‘‘MSRB’’
or ‘‘Board’’), filed with the Securities
and Exchange Commission (‘‘SEC’’ or
‘‘Commission’’), pursuant to Section
19(b)(1) of the Securities Exchange Act
of 1934 (‘‘Act’’),1 and Rule 19b-4
thereunder,2 a proposed rule change
consisting of amendments to Rule G–32
(on delivery of official statements to
new issue customers), Rule G–36 (on
delivery of official statements and
advance refunding documents to the
Board) and Rule G–11 (on new issue
municipal securities during the
underwriting period). The proposed rule
change is intended to improve the
efficiency of official statement
dissemination in the municipal
securities marketplace and the
timeliness of official statement
deliveries to customers. The proposed
8 15
U.S.C. 78s(b)(2).
CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
9 17
PO 00000
Frm 00111
Fmt 4703
Sfmt 4703
51857
rule change was published for comment
in the Federal Register on July 25,
2005.3 The Commission received no
comment letters regarding the proposal.
The Commission finds that the
proposed rule change is consistent with
the requirements of the Act and the
rules and regulations thereunder
applicable to the MSRB 4 and, in
particular, the requirements of Section
15B(b)(2)(C) of the Act 5 and the rules
and regulations thereunder. Section
15B(b)(2)(C) of the Act requires, among
other things, that the MSRB’s rules 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, to remove impediments to
and perfect the mechanism of a free and
open market in municipal securities,
and, in general, to protect investors and
the public interest.6 In particular, the
Commission finds that the proposed
rule change will increase the efficiency
of official statement dissemination in
the marketplace and the timeliness of
official statement deliveries to
customers.
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,7 that the
proposed rule change (SR–MSRB–2005–
13) be, and hereby is, approved.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.8
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5–4751 Filed 8–30–05; 8:45 am]
BILLING CODE 8010–01–P
DEPARTMENT OF TRANSPORTATION
Federal Motor Carrier Safety
Administration
[Docket No. FMCSA–2005–22056]
Public Meeting To Discuss the
Implementation of the North American
Standard for Cargo Securement
Federal Motor Carrier Safety
Administration (FMCSA), DOT.
AGENCY:
3 See Securities Exchange Act Release No. 52058
(July 19, 2005), 70 FR 42604 (July 25, 2005).
4 In approving this rule the Commission notes
that it has considered the proposed rule’s impact on
efficiency, competition and capital formation. 15
U.S.C. 78c(f).
5 15 U.S.C. 78o–4(b)(2)(C).
6 Id.
7 15 U.S.C. 78s(b)(2).
8 17 CFR 200.30–3(a)(12).
E:\FR\FM\31AUN1.SGM
31AUN1
51858
ACTION:
Federal Register / Vol. 70, No. 168 / Wednesday, August 31, 2005 / Notices
Notice of public meeting.
SUMMARY: FMCSA announces the
second in a series of public meetings
concerning the implementation of the
North American Standard for Protection
Against Shifting or Falling Cargo. On
September 27, 2002, FMCSA published
a final rule revising its regulations
concerning protection against shifting
and falling cargo for commercial motor
vehicles (CMVs) engaged in interstate
commerce. Motor carriers operating in
the United States were given until
January 1, 2004, to comply with the new
regulations. On September 23, 2004,
Canada’s Council of Ministers
Responsible for Transportation and
Highway Safety approved a new
National Safety Code Standard for cargo
securement. Full implementation of the
new cargo securement requirements in
Canada began in the summer of 2005.
The purpose of this meeting is second
in a series of meetings to discuss the
process for ensuring the consistent
interpretation of the harmonized cargo
securement standards by FMCSA and
the Canadian Provinces, and of the
issues raised by enforcement agencies
and motor carriers in the U.S., and to
address potential implementation issues
for the Canadian Provinces, and motor
carriers operating in Canada.
DATES: The meeting will be held on
September 29–30, 2005. The meeting
will begin at 1 p.m. and end at 5 p.m
on September 29, and continue from 9
a.m. until 5 p.m. on September 30.
ADDRESSES: The meeting will be held at
the Beau Rivage Resort, 875 Beach
Boulevard, Biloxi, Mississippi.
FOR FURTHER INFORMATION CONTACT: Mr.
Larry W. Minor, Director of the Office of
Bus and Truck Standards and
Operations (MC–PS), 202–366–4009,
Federal Motor Carrier Safety
Administration, 400 Seventh Street SW.,
Washington, DC 20590.
SUPPLEMENTARY INFORMATION:
Background
On September 27, 2002 (67 FR 61212),
FMCSA published a final rule revising
its regulations concerning protection
against shifting and falling cargo for
CMVs operated in interstate commerce
(49 CFR part 393). The new cargo
securement standards are based on the
North American Cargo Securement
Standard Model Regulations, reflecting
the results of a multi-year
comprehensive research program to
evaluate the then-current U.S. and
Canadian cargo securement regulations;
the motor carrier industry’s best
practices; and recommendations
presented during a series of public
VerDate Aug<18>2005
16:33 Aug 30, 2005
Jkt 205001
meetings involving U.S. and Canadian
industry experts, Federal, State and
Provincial enforcement officials, and
other interested parties. The Agency
indicated that the intent of the
rulemaking is to reduce the number of
crashes caused by cargo shifting on or
within, or falling from, CMVs operating
in interstate commerce, and to
harmonize to the greatest extent
practicable U.S., Canadian and Mexican
cargo securement regulations. Motor
carriers were given until January 1,
2004, to comply with the new
regulations.
Maintaining Uniformity Between U.S.
and Canadian Cargo Securement
Standards
FMCSA believes it is necessary to
continue working with U.S. and
Canadian industry experts, Federal,
State and Provincial enforcement
officials, and other interested parties to
maintain to the greatest extent
practicable, harmonization of U.S. and
Canadian cargo securement standards. A
major part of this effort includes
uniformity in interpreting the meaning
of the requirements adopted by the U.S.
and Canada. While there are some
differences between certain provisions
of the regulations adopted by FMCSA
and Canada’s National Safety Code
Standard 10, most of the contents of the
model regulations have been adopted, or
will soon be adopted, by almost all
jurisdictions in the U.S. and Canada. To
ensure consistency in the interpretation
and enforcement of the requirements,
FMCSA is working with its partners in
Canada to develop a process for sharing
information about requests for
interpretation, and exchanging technical
information that would be helpful to the
regulatory agencies in developing
responses to such requests. FMCSA
would also work with its partners in
Canada to ensure that interpretations are
made available to all interested parties
in an efficient and timely manner.
As part of the process for ensuring
consistent interpretations of the
harmonized cargo securement
regulations, FMCSA is holding this
public meeting to provide all interested
parties the opportunity to participate in
the discussions between the Agency and
its Canadian counterparts about
interpretations and other
implementation issues. This is the
second in a series of public meetings on
this subject. The first meeting was held
April 21–22 in Albuquerque, New
Mexico (70 FR 16884, April 1, 2005).
Minutes from the Albuquerque meeting,
and the presentations made by
participants have been placed in the
docket listed at the beginning of this
PO 00000
Frm 00112
Fmt 4703
Sfmt 4703
notice. The minutes and presentations
from the Biloxi meeting and any future
cargo securement implementation issues
meetings will be placed in this docket.
Future public meetings will be
announced in the Federal Register.
Meeting Information
The meeting will be held on
September 29–30, 2005, at the Beau
Rivage Resort, 875 Beach Boulevard,
Biloxi, Mississippi. The meeting is
scheduled from 1 p.m. to 5 p.m. on
September 29, and from 9 a.m. to 5 p.m.
on September 30. The meeting is being
held in connection with the Commercial
Vehicle Safety Alliance’s (CVSA) 2005
Fall Workshop. Attendance for the cargo
securement meeting is free of charge
and open to all interested parties.
However, anyone interested in attending
the sessions and committee meetings of
the CVSA’s 2005 Fall Workshop must
register with the CVSA and pay the
appropriate registration fee. For further
information about registration for other
sessions or meetings of the CVSA’s 2005
Fall Workshop please contact the CVSA
at (202) 775–1623.
Issued on: August 24, 2005.
Warren E. Hoemann,
Deputy Administrator.
[FR Doc. 05–17276 Filed 8–30–05; 8:45 am]
BILLING CODE 4910–EX–P
DEPARTMENT OF TRANSPORTATION
Federal Railroad Administration
Petition for Waiver of Compliance
In accordance with part 211 of title 49
Code of Federal Regulations (CFR),
notice is hereby given that the Federal
Railroad Administration (FRA) received
a request for a waiver of compliance
with certain requirements of its safety
standards. The individual petition is
described below, including the party
seeking relief, the regulatory provisions
involved, the nature of the relief being
requested, and the petitioner’s
arguments in favor of relief.
Indiana Northeastern Railroad
Company (Docket Number FRA–2005–
21963)
The Indiana Northeastern Railroad
Company (IN) seeks a waiver of
compliance from the provisions of the
Track Safety Standards, 49 CFR
213.233(c), that requires a twice-weekly
track inspection when operating
passenger trains.
The IN, a shortline railroad operating
in the states of Indiana, Ohio, and
Michigan, has commenced weekend
excursion passenger train operation
E:\FR\FM\31AUN1.SGM
31AUN1
]]>Agencies
[Federal Register Volume 70, Number 168 (Wednesday, August 31, 2005)]
[Notices]
[Pages 51857-51858]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-17276]
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DEPARTMENT OF TRANSPORTATION
Federal Motor Carrier Safety Administration
[Docket No. FMCSA-2005-22056]
Public Meeting To Discuss the Implementation of the North
American Standard for Cargo Securement
AGENCY: Federal Motor Carrier Safety Administration (FMCSA), DOT.
[[Page 51858]]
ACTION: Notice of public meeting.
-----------------------------------------------------------------------
SUMMARY: FMCSA announces the second in a series of public meetings
concerning the implementation of the North American Standard for
Protection Against Shifting or Falling Cargo. On September 27, 2002,
FMCSA published a final rule revising its regulations concerning
protection against shifting and falling cargo for commercial motor
vehicles (CMVs) engaged in interstate commerce. Motor carriers
operating in the United States were given until January 1, 2004, to
comply with the new regulations. On September 23, 2004, Canada's
Council of Ministers Responsible for Transportation and Highway Safety
approved a new National Safety Code Standard for cargo securement. Full
implementation of the new cargo securement requirements in Canada began
in the summer of 2005. The purpose of this meeting is second in a
series of meetings to discuss the process for ensuring the consistent
interpretation of the harmonized cargo securement standards by FMCSA
and the Canadian Provinces, and of the issues raised by enforcement
agencies and motor carriers in the U.S., and to address potential
implementation issues for the Canadian Provinces, and motor carriers
operating in Canada.
DATES: The meeting will be held on September 29-30, 2005. The meeting
will begin at 1 p.m. and end at 5 p.m on September 29, and continue
from 9 a.m. until 5 p.m. on September 30.
ADDRESSES: The meeting will be held at the Beau Rivage Resort, 875
Beach Boulevard, Biloxi, Mississippi.
FOR FURTHER INFORMATION CONTACT: Mr. Larry W. Minor, Director of the
Office of Bus and Truck Standards and Operations (MC-PS), 202-366-4009,
Federal Motor Carrier Safety Administration, 400 Seventh Street SW.,
Washington, DC 20590.
SUPPLEMENTARY INFORMATION:
Background
On September 27, 2002 (67 FR 61212), FMCSA published a final rule
revising its regulations concerning protection against shifting and
falling cargo for CMVs operated in interstate commerce (49 CFR part
393). The new cargo securement standards are based on the North
American Cargo Securement Standard Model Regulations, reflecting the
results of a multi-year comprehensive research program to evaluate the
then-current U.S. and Canadian cargo securement regulations; the motor
carrier industry's best practices; and recommendations presented during
a series of public meetings involving U.S. and Canadian industry
experts, Federal, State and Provincial enforcement officials, and other
interested parties. The Agency indicated that the intent of the
rulemaking is to reduce the number of crashes caused by cargo shifting
on or within, or falling from, CMVs operating in interstate commerce,
and to harmonize to the greatest extent practicable U.S., Canadian and
Mexican cargo securement regulations. Motor carriers were given until
January 1, 2004, to comply with the new regulations.
Maintaining Uniformity Between U.S. and Canadian Cargo Securement
Standards
FMCSA believes it is necessary to continue working with U.S. and
Canadian industry experts, Federal, State and Provincial enforcement
officials, and other interested parties to maintain to the greatest
extent practicable, harmonization of U.S. and Canadian cargo securement
standards. A major part of this effort includes uniformity in
interpreting the meaning of the requirements adopted by the U.S. and
Canada. While there are some differences between certain provisions of
the regulations adopted by FMCSA and Canada's National Safety Code
Standard 10, most of the contents of the model regulations have been
adopted, or will soon be adopted, by almost all jurisdictions in the
U.S. and Canada. To ensure consistency in the interpretation and
enforcement of the requirements, FMCSA is working with its partners in
Canada to develop a process for sharing information about requests for
interpretation, and exchanging technical information that would be
helpful to the regulatory agencies in developing responses to such
requests. FMCSA would also work with its partners in Canada to ensure
that interpretations are made available to all interested parties in an
efficient and timely manner.
As part of the process for ensuring consistent interpretations of
the harmonized cargo securement regulations, FMCSA is holding this
public meeting to provide all interested parties the opportunity to
participate in the discussions between the Agency and its Canadian
counterparts about interpretations and other implementation issues.
This is the second in a series of public meetings on this subject. The
first meeting was held April 21-22 in Albuquerque, New Mexico (70 FR
16884, April 1, 2005). Minutes from the Albuquerque meeting, and the
presentations made by participants have been placed in the docket
listed at the beginning of this notice. The minutes and presentations
from the Biloxi meeting and any future cargo securement implementation
issues meetings will be placed in this docket. Future public meetings
will be announced in the Federal Register.
Meeting Information
The meeting will be held on September 29-30, 2005, at the Beau
Rivage Resort, 875 Beach Boulevard, Biloxi, Mississippi. The meeting is
scheduled from 1 p.m. to 5 p.m. on September 29, and from 9 a.m. to 5
p.m. on September 30. The meeting is being held in connection with the
Commercial Vehicle Safety Alliance's (CVSA) 2005 Fall Workshop.
Attendance for the cargo securement meeting is free of charge and open
to all interested parties. However, anyone interested in attending the
sessions and committee meetings of the CVSA's 2005 Fall Workshop must
register with the CVSA and pay the appropriate registration fee. For
further information about registration for other sessions or meetings
of the CVSA's 2005 Fall Workshop please contact the CVSA at (202) 775-
1623.
Issued on: August 24, 2005.
Warren E. Hoemann,
Deputy Administrator.
[FR Doc. 05-17276 Filed 8-30-05; 8:45 am]
BILLING CODE 4910-EX-P
