C3 Capital Partners II, L.P.; Notice Seeking Exemption Under 312 of the Small Business Investment Act, Conflicts of Interest, 5613-5614 [2012-2188]
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Federal Register / Vol. 77, No. 23 / Friday, February 3, 2012 / Notices
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.26
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–2396 Filed 2–2–12; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–66276; File No. SR–FINRA–
2011–071]
Self-Regulatory Organizations;
Financial Industry Regulatory
Authority, Inc.; Order Granting
Approval of a Proposed Rule Change
To Increase the Trading Activity Fee
Rate for Transactions in Covered
Equity Securities
January 30, 2012.
I. Introduction
On December 14, 2011, the Financial
Industry Regulatory Authority, Inc.
(‘‘FINRA’’) filed with the Securities and
Exchange Commission (‘‘Commission’’),
pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’) 1 and Rule 19b-4 thereunder,2 a
proposed rule change to increase
FINRA’s Trading Activity Fee (‘‘TAF’’)
rate for transactions in covered equity
securities. The proposed rule change
was published for comment in the
Federal Register on December 30,
2011.3 The Commission received no
comments on the proposal. This order
approves the proposed rule change.
II. Description of the Proposal
FINRA’s proposal would amend
Section 1 of Schedule A to the FINRA
By-Laws to adjust the rate of FINRA’s
TAF for transactions in Covered
Securities that are equity securities.4
The rules governing the TAF also
include a list of exempt transactions.5
The TAF, along with the Personnel
Assessment and the Gross Income
Assessment fees, are used to fund
FINRA’s regulatory activities.6
The current TAF rate is $0.000090 per
share for each sale of a covered equity
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 66050
(December 23, 2011), 76 FR 82334 (‘‘Notice’’)
4 Covered Securities are defined in Section 1 of
Schedule A to the FINRA By-Laws as: Exchangeregistered securities wherever executed (except debt
securities that are not TRACE-Eligible Securities);
OTC Equity Securities; security futures; TRACEEligible Securities (provided that the transaction is
a Reportable TRACE Transaction); and all
municipal securities subject to Municipal Securities
Rulemaking Board reporting requirements.
5 See FINRA By-Laws, Schedule A, § 1(b)(2).
6 See FINRA By-Laws, Schedule A, § 1(a).
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2 17
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20:48 Feb 02, 2012
Jkt 226001
security, with a maximum charge of
$4.50 per trade.7 In the Notice, FINRA
stated that over 95% of TAF revenue is
generated by transactions in Covered
Securities that are equity securities.
Thus, FINRA’s revenue from the TAF is
substantially affected by changes in
trading volume in the equities markets.
According to FINRA, since it previously
increased the TAF in July 2011, there
was a momentary spike in equity
securities trading volume in the month
of August followed by a general decline
in volumes heading into the fourth
quarter of 2011. FINRA states that, as a
result of declining volume, it is
necessary to adjust the TAF rate for
2012 to ‘‘stabilize revenue flows
necessary to support FINRA’s regulatory
mission.’’ 8 Under the proposal, FINRA’s
TAF rate for Covered Securities that are
equity securities would increase by
$0.000005 per share, from $0.000090
per share to $0.000095 per share, while
the per-transaction cap for Covered
Securities that are equity securities
would increase by $0.25, from $4.50 to
$4.75. FINRA stated that increasing the
TAF rate on these securities by
$0.000005 per share is the minimum
increase necessary to bring the revenue
from the TAF to its needed levels to
adequately fund FINRA’s member
regulatory obligations and that it
intends the proposed increase to remain
revenue neutral, as it did previously
when it adjusted the TAF rate.9
FINRA stated that it intends to make
the proposal effective on February 1,
2012.
III. Discussion and Commission’s
Findings
After carefully considering the
proposed rule change, the Commission
finds that it is consistent with the
requirements of the Act and the rules
and regulations thereunder applicable to
a national securities association.10 In
particular, the Commission finds that
the proposal is consistent with Section
15A(b)(5) of the Act,11 which requires,
among other things, that FINRA rules
provide for the equitable allocation of
reasonable dues, fees, and other charges
among members and issuers and other
persons using any facility or system that
FINRA operates or controls. The
7 The current TAF rates were approved by the
Commission on June 2, 2011. See Securities
Exchange Act Release No. 64590 (June 2, 2011), 76
FR 33388 (June 8, 2011).
8 Notice, 76 FR at 82335.
9 See id.
10 In approving the proposal, the Commission has
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
11 15 U.S.C. 78o–3(b)(5).
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5613
Commission believes that the proposal
is reasonably designed to secure
adequate funding to support FINRA’s
regulatory duties.
IV. Conclusion
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,12 that the
proposed rule change (SR–FINRA–
2011–071) be, and hereby is, approved.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.13
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–2394 Filed 2–2–12; 8:45 am]
BILLING CODE 8011–01–P
SMALL BUSINESS ADMINISTRATION
[License No. 07/07–0113]
C3 Capital Partners II, L.P.; Notice
Seeking Exemption Under 312 of the
Small Business Investment Act,
Conflicts of Interest
Notice is hereby given that C3 Capital
Partners II, L.P., 4520 Main Street, Suite
1600, Kansas City, Missouri 64111–
7700, a Federal Licensee under the
Small Business Investment Act of 1958,
as amended (‘‘the Act’’), in connection
with the financing of a small concern,
has sought an exemption under section
312 of the Act and section 107.730,
Financings Which Constitute Conflicts
of Interest of the Small Business
Administration (‘‘SBA’’) rules and
regulations (13 CFR 107.730 (2006)). C3
Capital Partners II, L.P., proposes to
provide financing to Findett LLC, P.O.
Box 0960, St. Charles, MO 63302–0960.
The financing is contemplated to
provide working capital.
The financing is brought within the
purview of Sec. 107.730(a)(1) of the
Regulations because C3 Capital Partners,
L.P., an Associate of C3 Capital Partners
II, L.P., currently owns greater than 10
percent of Findett LLC, and therefore,
Findett LLC, is considered an Associate
of C3 Capital Partners II as defined in
Sec. 105.50 of the regulations.
Notice is hereby given that any
interested person may submit written
comments on the transaction, within 15
days, to the Associate Administrator for
Investment, U.S. Small Business
12 15
13 17
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U.S.C. 78s(b)(2).
CFR 200.30–3(a)(12).
03FEN1
5614
Federal Register / Vol. 77, No. 23 / Friday, February 3, 2012 / Notices
Administration, 409 Third Street SW.,
Washington, DC 20416.
Sean J. Greene,
Associate Administrator for Innovation and
Investment.
[FR Doc. 2012–2188 Filed 2–2–12; 8:45 am]
BILLING CODE M
Presidential Memorandum—Implementing
Provisions of the Temporary Payroll Tax Cut
Continuation Act of 2011 Relating to the
Keystone XL Pipeline Permit
DEPARTMENT OF STATE
[Public Notice 7785]
MEMORANDUM FOR THE SECRETARY OF
STATE
Department of State FY11 Service
Contract Inventory
Department of State.
ACTION: Notice of the release of the
Department of State FY11 Service
Contract Inventory.
AGENCY:
The Department of State has
publically released its Service Contract
Inventory for FY11 and its analysis of
the FY10 inventory. They are available
here: https://csm.state.gov/. Section 743
of Division C of the FY 2010
Consolidated Appropriations Act,
Public Law 111–117, requires
Department of State, and other civilian
agencies, to submit an annual inventory
of service contracts. A service contract
inventory is a tool to assess an agency
in its ability to contract services in
support of its mission and operation and
whether the contractors’ skills are being
utilized in an appropriate manner.
DATES: The FY11 inventory and FY10
analysis is available on the
Department’s Web site as of Jan. 31,
2012.
SUMMARY:
FOR FURTHER INFORMATION CONTACT:
Jason Passaro, Director, A/CSM, (703)
875–5114, passaroja@state.gov.
Dated: January 31, 2012.
Jason Passaro,
Director, A/CSM, Department of State.
[FR Doc. 2012–2467 Filed 2–2–12; 8:45 am]
BILLING CODE 4710–24–P
DEPARTMENT OF STATE
[Public Notice: 7786]
tkelley on DSK3SPTVN1PROD with NOTICES
In the Matter of the Keystone XL
Pipeline
This notice is to inform the public
that the Department of State has denied
the Application of TransCanada
Keystone Pipeline, L.P. for a
Presidential Permit Authorizing the
Construction, Operation, and
Maintenance of Pipeline Facilities for
the Importation of Crude Oil to be
located at the United States-Canada
Border, received by the Department of
State on September 19, 2008, as directed
VerDate Mar<15>2010
20:48 Feb 02, 2012
by the Presidential Memorandum for the
Secretary of State Implementing
Provisions of the Temporary Payroll Tax
Cut Continuation Act of 2011 Relating
to the Keystone XL Pipeline Permit,
dated January 18, 2012. The full text of
the Presidential Memorandum is as
follows:
Jkt 226001
SUBJECT: Implementing Provisions of the
Temporary Payroll Tax Cut Continuation Act
of 2011 Relating to the Keystone XL Pipeline
Permit
The Temporary Payroll Tax Cut
Continuation Act of 2011 requires a
determination, within 60 days of enactment,
of whether the Keystone XL pipeline project
as set forth in the permit application filed on
September 19, 2008 (including amendments)
(the ‘‘Keystone XL pipeline project’’) would
serve the national interest. The State
Department had previously explained, on
November 10, 2011, that it was seeking
additional information concerning whether
that project served the national interest, as
necessary to grant the permit. Based on its
experience and in order to consider relevant
environmental issues and the consequences
of the project on energy security, the
economy, and foreign policy, the State
Department indicated that its review could
be complete as early as the first quarter of
2013.
I have determined, based upon your
recommendation, including the State
Department’s view that 60 days is an
insufficient period to obtain and assess the
necessary information, that the Keystone XL
pipeline project, as presented and analyzed
at this time, would not serve the national
interest.
Accordingly, by the authority vested in me
as President by the Constitution and the laws
of the United States including section 301 of
title 3, United States Code, and in
furtherance of Executive Order 13337 of
April 30, 2004 to the extent compatible with
this memorandum, I direct you to submit the
report to the Congress as specified in section
501(b)(2) of the Temporary Payroll Tax Cut
Continuation Act of 2011 and to issue a
denial of the Keystone XL pipeline permit
application.
This memorandum is not intended to, and
does not, create any right or benefit,
substantive or procedural, enforceable at law
or in equity by any party against the United
States, its departments, agencies, or entities,
its officers, employees, or agents, or any other
person.
You are hereby authorized and directed to
publish this memorandum in the Federal
Register.
BARACK OBAMA
Issued in Washington DC on February 1,
2012.
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Dated: February 1, 2012.
George Sibley,
Director, Bureau of Oceans and International
Environmental and Scientific Affairs/Office
of Environmental Policy, U.S. Department of
State.
[FR Doc. 2012–2615 Filed 2–2–12; 8:45 am]
BILLING CODE 4710–09–P
DEPARTMENT OF STATE
[Public Notice 7758]
Shipping Coordinating Committee;
Notice of Committee Meeting
The Shipping Coordinating
Committee (SHC) will conduct an open
meeting at 9 a.m. on Wednesday, March
14, 2012, in Room 5–1224 of the United
States Coast Guard Headquarters
Building, 2100 Second Street SW.,
Washington, DC 20593–0001. The
primary purpose of the meeting is to
prepare for the twentieth Session of the
International Maritime Organization’s
(IMO) Subcommittee on Flag State
Implementation to be held at the IMO
Headquarters, United Kingdom, March
26–30, 2012.
The primary matters to be considered
include:
Adoption of the agenda;
Decisions of other IMO bodies;
Responsibilities of Governments and
measures to encourage flag State
compliance;
Mandatory reports under
International Convention for the
Prevention of Pollution from Ships,
1973, as modified by the Protocol of
1978 (MARPOL 73/78);
Casualty statistics and investigations;
Harmonization of port State control
activities;
Port State Control (PSC) Guidelines
on seafarers’ hours of rest and PSC
guidelines in relation to the Maritime
Labour Convention, 2006;
Development of guidelines on port
State control under the 2004 Ballast
Water Management (BWM) Convention;
Comprehensive analysis of difficulties
encountered in the implementation of
IMO instruments;
Review of the Survey Guidelines
under the Harmonized System of Survey
and Certification (HSSC) and the
annexes to the Code for the
Implementation of Mandatory IMO
Instruments;
Consideration of International
Association of Classification Societies
(IACS) unified interpretations;
Review of the IMO Instruments
Implementation Code;
Development of a Code for
Recognized Organizations;
Measures to protect the safety of
persons rescued at sea;
E:\FR\FM\03FEN1.SGM
03FEN1
Agencies
[Federal Register Volume 77, Number 23 (Friday, February 3, 2012)]
[Notices]
[Pages 5613-5614]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-2188]
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SMALL BUSINESS ADMINISTRATION
[License No. 07/07-0113]
C3 Capital Partners II, L.P.; Notice Seeking Exemption Under 312
of the Small Business Investment Act, Conflicts of Interest
Notice is hereby given that C3 Capital Partners II, L.P., 4520 Main
Street, Suite 1600, Kansas City, Missouri 64111-7700, a Federal
Licensee under the Small Business Investment Act of 1958, as amended
(``the Act''), in connection with the financing of a small concern, has
sought an exemption under section 312 of the Act and section 107.730,
Financings Which Constitute Conflicts of Interest of the Small Business
Administration (``SBA'') rules and regulations (13 CFR 107.730 (2006)).
C3 Capital Partners II, L.P., proposes to provide financing to Findett
LLC, P.O. Box 0960, St. Charles, MO 63302-0960. The financing is
contemplated to provide working capital.
The financing is brought within the purview of Sec. 107.730(a)(1)
of the Regulations because C3 Capital Partners, L.P., an Associate of
C3 Capital Partners II, L.P., currently owns greater than 10 percent of
Findett LLC, and therefore, Findett LLC, is considered an Associate of
C3 Capital Partners II as defined in Sec. 105.50 of the regulations.
Notice is hereby given that any interested person may submit
written comments on the transaction, within 15 days, to the Associate
Administrator for Investment, U.S. Small Business
[[Page 5614]]
Administration, 409 Third Street SW., Washington, DC 20416.
Sean J. Greene,
Associate Administrator for Innovation and Investment.
[FR Doc. 2012-2188 Filed 2-2-12; 8:45 am]
BILLING CODE M