Marine Transportation System National Advisory Council, 11459-11460 [E6-3151]

Download as PDF Federal Register / Vol. 71, No. 44 / Tuesday, March 7, 2006 / Notices To date the Exchange believes that there have been no adverse effects on the market as a result of these increases in the limits for equity option contracts and options overlying QQQQ. 2. Statutory Basis The Exchange believes that its proposal is consistent with Section 6(b) of the Act 9 in general, and furthers the objective of Section 6(b)(5) of the Act 10 in particular, in that it is designed to promote just and equitable principles of trade, to remove impediments to and perfect the mechanisms of a free and open market and the national market system, and, in general to protect investors and the public interest, by extending the Pilot Program for approximately an additional six months. B. Self-Regulatory Organization’s Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition not necessary or appropriate in furtherance of the purposes of the Act. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were either solicited or received. sroberts on PROD1PC70 with NOTICES III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing rule change does not: (1) Significantly affect the protection of investors or the public interest; (2) impose any significant burden on competition; and (3) become operative for 30 days after the date of this filing, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A) of the Act 11 and Rule 19b– 4(f)(6) thereunder.12 A proposed rule change filed under 19b–4(f)(6) normally may not become operative prior to 30 days after the date of filing.13 However, Rule 19b– 4(f)(6)(iii)14 permits the Commission to designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange provided the Commission with written notice of its intent to file this proposed rule change at least five business days prior to the date of filing the proposed rule change. In addition, 9 15 U.S.C. 78f(b). U.S.C. 78f(b)(5). 11 15 U.S.C. 78s(b)(3)(A). 12 17 CFR 240.19b–4(f)(6). 13 17 CFR 240.19–4(f)(6)(iii). 14 Id. 10 15 VerDate Aug<31>2005 16:42 Mar 06, 2006 the Exchange has requested that the Commission waive the 30-day preoperative delay. The Commission believes that waiving the 30-day preoperative delay is consistent with the protection of investors and in the public interest because it will allow the Pilot Program to continue uninterrupted.15 At any time within 60 days of the filing of the proposed rule change, the Commission may summarily abrogate 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 Act. 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 (https://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File No. SR–Phlx–2006–13 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, Station Place, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File No. SR–Phlx–2006–13. This file number should be included on the subject line if e-mail is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s Internet Web site (https://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 inspection and copying in the Commission’s Public Reference 15 For the purposes only of waiving the preoperative delay, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). Jkt 208001 PO 00000 Frm 00088 Fmt 4703 Sfmt 4703 11459 Room, 100 F Street, NE., Washington, DC 20549. Copies of such filing will also be available for inspection and copying at the principal office of the Phlx. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File No. SR–Phlx–2006–13 and should be submitted on or before March 28, 2006. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.16 Nancy M. Morris, Secretary. [FR Doc. E6–3163 Filed 3–6–06; 8:45 am] BILLING CODE 8010–01–P DEPARTMENT OF TRANSPORTATION Maritime Administration Marine Transportation System National Advisory Council National Advisory Council Public Meeting. ACTION: SUMMARY: The Maritime Administration announces that the Marine Transportation System National Advisory Council (MTSNAC) will hold a meeting to discuss MTS needs, regional MTS outreach and education initiatives, and other issues. A public comment period is scheduled for 8:30 a.m. to 9 a.m. on Friday, March 24, 2006. To provide time for as many people to speak as possible, speaking time for each individual will be limited to three minutes. Members of the public who would like to speak are asked to contact Richard J. Lolich by March 16, 2006. Commenters will be placed on the agenda in the order in which notifications are received. If time allows, additional comments will be permitted. Copies of oral comments must be submitted in writing at the meeting. Additional written comments are welcome and must be filed by March 31, 2006. DATES: The meeting will be held on Thursday, March 23, 2006, from 1 p.m. to 5 p.m. and Friday, March 24, 2006, from 8:30 a.m. to 3 p.m. ADDRESSES: The meeting will be held in the Windsor Court Hotel, 300 Gravier Street, New Orleans, LA 70130. The hotel’s phone number is 888–596–0955. FOR FURTHER INFORMATION CONTACT: Richard Lolich, (202) 366–4357; 16 17 E:\FR\FM\07MRN1.SGM CFR 200.30–3(a)(12). 07MRN1 11460 Federal Register / Vol. 71, No. 44 / Tuesday, March 7, 2006 / Notices Maritime Administration, MAR–830, Room 7201, 400 Seventh St., SW., Washington, DC 20590; richard.lolich@dot.gov. (Authority: 5 U.S.C. App 2, Sec. 9(a)(2); 41 CFR 101–6. 1005; DOT Order 1120.3B) Dated: March 1, 2006. Joel C. Richard, Secretary, Maritime Administration. [FR Doc. E6–3151 Filed 3–6–06; 8:45 am] BILLING CODE 4910–81–P DEPARTMENT OF THE TREASURY Analysis by the President’s Working Group on Financial Markets on the Long-Term Availability and Affordability of Insurance for Terrorism Risk Department of the Treasury, Departmental Offices. ACTION: Notice; request for comments. AGENCY: SUMMARY: The Terrorism Risk Insurance Extension Act of 2005 requires the President’s Working Group on Financial Markets to perform an analysis regarding the long-term availability and affordability of insurance for terrorism risk, including group life coverage and coverage for chemical, nuclear, biological, and radiological events. As chair of the President’s Working Group, Treasury is issuing this notice seeking public comment to assist the President’s Working Group in its analysis. Comments must be in writing and received by April 21, 2006. ADDRESSES: Please submit comments (if hard copy, preferably an original and two copies) to Treasury’s Office of Financial Institutions Policy, Attention: President’s Working Group on Financial Markets Public Comment Record, Room 3160 Annex, Department of the Treasury, 1500 Pennsylvania Avenue, NW., Washington, DC 20220. Because postal mail may be subject to processing delay, we recommend that comments be submitted by electronic mail to: PWGComments@do.treas.gov. All comments should be captioned with ‘‘President’s Working Group on Financial Markets: Terrorism Risk Insurance Analysis.’’ Please include your name, affiliation, address, e-mail address and telephone number(s) in your comment. Where appropriate, comments should include a short Executive Summary (no more than five single-spaced pages). All comments received will be available for public inspection by appointment only at the Reading Room of the Treasury Library. sroberts on PROD1PC70 with NOTICES DATES: VerDate Aug<31>2005 16:42 Mar 06, 2006 Jkt 208001 To make appointments, please call one of the numbers below. FOR FURTHER INFORMATION CONTACT: C. Christopher Ledoux, Senior Policy Analyst, Office of Financial Institutions Policy, 202–622–6813; or Mario Ugoletti, Director, Office of Financial Institutions Policy, 202–622–2730 (not toll free numbers). SUPPLEMENTARY INFORMATION: On November 26, 2002, the President signed into law the Terrorism Risk Insurance Act of 2002 (Pub. L. 107–297, 116 Stat. 2322) (hereinafter referenced as ‘‘TRIA’’). TRIA’s purposes are to address market disruptions, ensure the continued widespread availability and affordability of commercial property and casualty insurance for terrorism risk, and to allow for a transition period for the private markets to stabilize and build capacity while preserving state insurance regulation and consumer protections. Title I of TRIA established a temporary Federal program of shared public and private compensation for insured commercial property and casualty losses resulting from an act of terrorism, as defined in the Act. TRIA authorized Treasury to administer and implement the Terrorism Risk Insurance Program (Program), including the issuance of regulations and procedures. As originally enacted, the Program was to end on December 31, 2005. Congress subsequently approved and on December 22, 2005, the President signed into law the Terrorism Risk Insurance Extension Act of 2005 (Pub. L. 109–144, 119 Stat. 2660) (the Extension Act). The Extension Act continued the Program for two years until December 31, 2007, revised several structural aspects of the Program, and required an analysis of the availability and affordability of terrorism risk insurance. Specifically, the Extension Act amended section 108 of TRIA to require the President’s Working Group on Financial Markets,1 in consultation with the National Association of Insurance Commissioners, representatives of the insurance industry, representatives of the securities industry, and representatives of policy holders, to perform an analysis regarding the long-term availability and affordability of insurance for terrorism risk, including group life coverage and coverage for chemical, nuclear, biological, and radiological events. This Notice seeks comment from these and 1 The President’s Working Group on Financial Markets (established by Executive Order 12631) is comprised of the Secretary of the Treasury (who serves as its Chairman), the Chairman of the Federal Reserve Board, the Chairman of the Securities and Exchange Commission, and the Chairman of the Commodity Futures Trading Commission. PO 00000 Frm 00089 Fmt 4703 Sfmt 4703 any other interested parties as a means of satisfying the consultation requirement in the most open and efficient manner. TRIA, as amended by the Extension Act, requires the President’s Working Group on Financial Markets to submit a report to Congress on its findings no later than September 30, 2006. Treasury, on behalf of the President’s Working Group, is soliciting comments, including empirical data and other information in support of such comments, where appropriate and available, regarding the long-term availability and affordability of insurance for terrorism risk, including terrorism risk insurance coverage for group life and for chemical, nuclear, biological, and radiological events. We request that submitters distinguish between risk from foreign and domestic terrorism in their comments. In addition, we seek and solicit comment in response to the following specific questions: I. Long-Term Availability and Affordability of Terrorism Risk Insurance 1.1 In the long-term, what are the key factors that will determine the availability and affordability of terrorism risk insurance coverage? How can these factors be measured and projected? 1.2 What improvements have taken place in the ability of insurers to measure and manage their accumulation of terrorism risk exposures? How will this evolve in the long-term? 1.3 What improvements have taken place in the ability of insurers to price terrorism risk insurance, including in the development and use of modeling? How will this evolve in the long-term? 1.4 How, if at all, were primary insurers’ pricing decisions affected by the anticipated expiration of TRIA at the end of 2005, particularly for insurance policies extending into 2006 that cover terrorism risk? What role did the pricing and availability of reinsurance play in those decisions? 1.5 What role do mitigation efforts related to terrorism risk play in an insurer’s underwriting and pricing decisions? How will this evolve in the long-term? 1.6 What is the current availability of reinsurance to cover terrorism risk? Please distinguish by line or type of insurance being reinsured and on what basis (treaty or facultative). How will this evolve in the long-term? 1.7 At what policyholder retention levels are insurance programs being structured to cover terrorism risk; and, with regard to insurers, how are E:\FR\FM\07MRN1.SGM 07MRN1

Agencies

[Federal Register Volume 71, Number 44 (Tuesday, March 7, 2006)]
[Notices]
[Pages 11459-11460]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-3151]


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DEPARTMENT OF TRANSPORTATION

Maritime Administration


Marine Transportation System National Advisory Council

ACTION: National Advisory Council Public Meeting.

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SUMMARY: The Maritime Administration announces that the Marine 
Transportation System National Advisory Council (MTSNAC) will hold a 
meeting to discuss MTS needs, regional MTS outreach and education 
initiatives, and other issues. A public comment period is scheduled for 
8:30 a.m. to 9 a.m. on Friday, March 24, 2006. To provide time for as 
many people to speak as possible, speaking time for each individual 
will be limited to three minutes. Members of the public who would like 
to speak are asked to contact Richard J. Lolich by March 16, 2006. 
Commenters will be placed on the agenda in the order in which 
notifications are received. If time allows, additional comments will be 
permitted. Copies of oral comments must be submitted in writing at the 
meeting. Additional written comments are welcome and must be filed by 
March 31, 2006.

DATES: The meeting will be held on Thursday, March 23, 2006, from 1 
p.m. to 5 p.m. and Friday, March 24, 2006, from 8:30 a.m. to 3 p.m.

ADDRESSES: The meeting will be held in the Windsor Court Hotel, 300 
Gravier Street, New Orleans, LA 70130. The hotel's phone number is 888-
596-0955.

FOR FURTHER INFORMATION CONTACT: Richard Lolich, (202) 366-4357;

[[Page 11460]]

Maritime Administration, MAR-830, Room 7201, 400 Seventh St., SW., 
Washington, DC 20590; richard.lolich@dot.gov.

(Authority: 5 U.S.C. App 2, Sec. 9(a)(2); 41 CFR 101-6. 1005; DOT 
Order 1120.3B)

    Dated: March 1, 2006.
Joel C. Richard,
Secretary, Maritime Administration.
[FR Doc. E6-3151 Filed 3-6-06; 8:45 am]
BILLING CODE 4910-81-P

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