Market Test of Experimental Product-Metro Post, 64366-64367 [2012-25727]

Download as PDF 64366 Federal Register / Vol. 77, No. 203 / Friday, October 19, 2012 / Notices TABLE 10—SPECIAL SERVICES PRICE CHANGES—Continued Special services product Percent change International Certificates of Mailing ....................................................................................................................................... Set equal to equivalent domestic service. * Based in part on setting the fee for retail Delivery Confirmation service (for Package Services and Priority) and the fee for electronic Delivery Confirmation service (for Parcel Post) at zero. Id. at 30–32. IV. Preferred Mail and Worksharing Discounts Preferred mail. The Adjustment Notice includes the Postal Service’s explanation that it implemented section 3626 pricing requirements in the same manner as in the Docket No. R2012–3 price change, and notes the Commission concluded the Postal Service’s interpretation of section 3626 is appropriate. Id. at 32. The Postal Service identifies each of the preferred products or components (Within County Periodicals, Nonprofit and Classroom Periodicals, Science of Agriculture Periodicals advertising pounds, Nonprofit Standard Mail, and Library Mail) and describes how the planned adjustments comport with applicable statutory factors. Id. at 32–33. Consistency with 39 U.S.C. 3627 and 3629. The Adjustment Notice observes that neither of these sections is implicated by the price change, as the Postal Service does not seek to alter free rates (section 3627) or change the eligibility requirements for nonprofit rates. Id. at 34. Workshare discounts. The Adjustment Notice includes the Postal Service’s justification and explanation, in accordance with rules 3010.14(b)(5) and (6), for workshare discounts that exceed 100 percent of avoided costs or that are substantially below 100 percent for each affected class or individual product. Id. at 34–53. V. MCS Changes The Adjustment Notice, in conformance with rule 3010.14(b)(9), identifies numerous changes to the MCS. Certain substantive changes are identified by the Postal Service. Id. at 54–55. Attachment A to the Adjustment Notice presents price and classification changes. Id. at 53. tkelley on DSK3SPTVN1PROD with NOTICES VI. Administrative Actions The Commission hereby establishes a formal docket, captioned Docket No. R2013–1, Notice of Market-Dominant Price Adjustment, to conduct the review of the Postal Service’s planned price adjustments mandated in 39 U.S.C. 3622. The Commission has posted the VerDate Mar<15>2010 16:06 Oct 18, 2012 Jkt 229001 Adjustment Notice on the Commission’s Web site (https://www.prc.gov), and has made the Adjustment Notice available for copying and inspection during the agency’s regular business hours of 8:00 a.m. to 4:30 p.m. weekdays, except Federal holidays. Public comment period. The Commission‘s rules provide a period of 20 days from the date of the Postal Service’s filing for public comment. 39 CFR 3010.13(a)(5). Comments by interested persons are due no later than October 31, 2012. Interested persons are encouraged to review the Postal Service’s Adjustment Notice and workpapers in their entirety. Commission rule 3010.13(b) further provides that public comments are to focus primarily on whether the planned price adjustments comply with the following mandatory requirements under the Postal Accountability and Enhancement Act (PAEA): (1) Whether the planned rate adjustments measured using the formula established in section 3010.23(b) are at or below the annual limitation established in section 3010.11; and (2) Whether the planned rate adjustments measured using the formula established in section 3010.23(b) are at or below the limitations established in section 3010.28. Participation and designated filing method. Interested persons are not required to file a notice of intervention prior to submitting comments. Instead, they are to submit comments electronically via the Commission’s Filing Online system, unless a waiver is obtained. Instructions for obtaining an account to file documents online may be found on the Commission’s Web site (https://www.prc.gov), or by contacting the Commission’s Docket Section staff at 202–789–6846. Persons without access to the Internet or otherwise unable to file documents electronically may request a waiver of the electronic filing requirement by filing a motion for waiver with the Commission. The motion may be filed along with any comments the person may wish to submit in this docket. Persons requesting a waiver may file hardcopy documents with the Commission either by mailing or by PO 00000 Frm 00058 Fmt 4703 Sfmt 4703 hand delivery to the Office of the Secretary, Postal Regulatory Commission, 901 New York Avenue NW., Suite 200, Washington, DC 20268– 0001 during regular business hours by the date specified for such filing. Any person needing assistance in requesting a waiver may contact the Docket Section at 202–789–6846. Hardcopy documents will be scanned and posted on the Commission’s Web site. Appointment of Public Representative. In conformance with 39 U.S.C. 505, the Commission appoints Kenneth E. Richardson to represent the interests of the general public in this proceeding. VII. Ordering Paragraphs It is ordered: 1. The Commission establishes Docket No. R2013–1 to consider planned price adjustments in rates, fees and classifications for market dominant postal products and services identified in the Postal Service’s October 11, 2012 Adjustment Notice. 2. Comments by interested persons on the planned price adjustments are due no later than October 31, 2012. 3. Pursuant to 39 U.S.C. 505, the Commission appoints Kenneth E. Richardson to represent the interests of the general public in this proceeding. 4. The Commission directs the Secretary of the Commission to arrange for prompt publication of this notice in the Federal Register. By the Commission. Shoshana M. Grove, Secretary. [FR Doc. 2012–25761 Filed 10–18–12; 8:45 am] BILLING CODE 7710–FW–P POSTAL SERVICE Market Test of Experimental Product— Metro Post Postal ServiceTM. ACTION: Notice. AGENCY: The Postal Service gives notice of a market test of an experimental product in accordance with statutory requirements. DATES: Effective date: October 19, 2012. SUMMARY: E:\FR\FM\19OCN1.SGM 19OCN1 Federal Register / Vol. 77, No. 203 / Friday, October 19, 2012 / Notices FOR FURTHER INFORMATION CONTACT: Elizabeth A. Reed, 202–268–3179. SUPPLEMENTARY INFORMATION: The United States Postal Service® hereby gives notice that, pursuant to 39 U.S.C. 3641(c)(1), it will begin a market test of its Metro Post experimental product on or after November 12, 2012. The Postal Service has filed with the Postal Regulatory Commission a notice setting out the basis for the Postal Service’s determination that the market test is covered by 39 U.S.C. 3641 and describing the nature and scope of the market test. Documents are available at www.prc.gov, Docket No. MT2013–1. Stanley F. Mires, Attorney, Legal Policy & Legislative Advice. [FR Doc. 2012–25727 Filed 10–18–12; 8:45 am] BILLING CODE 7710–12–P POSTAL SERVICE Removal of International Restricted Delivery From the Competitive Product List Postal ServiceTM. Notice. AGENCY: ACTION: The Postal Service hereby provides notice that it has filed a request with the Postal Regulatory Commission to remove International Restricted Delivery from the competitive product list. DATES: Effective date: October 19, 2012. FOR FURTHER INFORMATION CONTACT: Caroline Brownlie, 202–268–3010. SUPPLEMENTARY INFORMATION: On October 11, 2012, the United States Postal Service® filed with the Postal Regulatory Commission the Request of the United States Postal Service to Remove International Restricted Delivery from the Competitive Product List, pursuant to 39 U.S.C. 3642. Documents pertinent to this request are available at https://www.prc.gov, Docket No. MC2013–3. SUMMARY: Stanley F. Mires, Attorney, Legal Policy & Legislative Advice. [FR Doc. 2012–25728 Filed 10–18–12; 8:45 am] BILLING CODE 7710–12–P tkelley on DSK3SPTVN1PROD with NOTICES SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. VerDate Mar<15>2010 16:06 Oct 18, 2012 Jkt 229001 Extension: Rule 38a–1, OMB Control No. 3235–0586, SEC File No. 270–522. 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 (the ‘‘Commission’’) is soliciting comments on the collection of information summarized below. The Commission plans to submit this existing collection of information to the Office of Management and Budget for extension and approval. Rule 38a–1 (17 CFR 270.38a–1) under the Investment Company Act of 1940 (15 U.S.C. 80a) (‘‘Investment Company Act’’) is intended to protect investors by fostering better fund compliance with securities laws. The rule requires every registered investment company and business development company (‘‘fund’’) to: (i) Adopt and implement written policies and procedures reasonably designed to prevent violations of the federal securities laws by the fund, including procedures for oversight of compliance by each investment adviser, principal underwriter, administrator, and transfer agent of the fund; (ii) obtain the fund board of directors’ approval of those policies and procedures; (iii) annually review the adequacy of those policies and procedures and the policies and procedures of each investment adviser, principal underwriter, administrator, and transfer agent of the fund, and the effectiveness of their implementation; (iv) designate a chief compliance officer to administer the fund’s policies and procedures and prepare an annual report to the board that addresses certain specified items relating to the policies and procedures; and (v) maintain for five years the compliance policies and procedures and the chief compliance officer’s annual report to the board. The rule contains certain information collection requirements that are designed to ensure that funds establish and maintain comprehensive, written internal compliance programs. The information collections also assist the Commission’s examination staff in assessing the adequacy of funds’ compliance programs. While Rule 38a–1 requires each fund to maintain written policies and procedures, most funds are located within a fund complex. The experience of the Commission’s examination and oversight staff suggests that each fund in a complex is able to draw extensively from the fund complex’s ‘‘master’’ compliance program to assemble appropriate compliance policies and procedures. Many fund complexes PO 00000 Frm 00059 Fmt 4703 Sfmt 4703 64367 already have written policies and procedures documenting their compliance programs. Further, a fund needing to develop or revise policies and procedures on one or more topics in order to achieve a comprehensive compliance program can draw on a number of outlines and model programs available from a variety of industry representatives, commentators, and organizations. There are approximately 4,237 funds subject to Rule 38a–1. Among these funds, 146 were newly registered in the past year. These 146 funds, therefore, were required to adopt and document the policies and procedures that make up their compliance programs. Commission staff estimates that the average annual hour burden for a fund to adopt and document these policies and procedures is 105 hours. Thus, we estimate that the aggregate annual burden hours associated with the adoption and documentation requirement is 15,330 hours. In 2010, Commission staff began to estimate the hour burden associated with money market funds’ adoption of certain policies and procedures aimed at ensuring that these funds meet reasonably foreseeable shareholder redemptions (the ‘‘general liquidity requirement’’). Commission staff estimates that each newly-registered money market fund will incur a onetime additional average burden of 9 hours to document and adopt policies and procedures that will assist in complying with the general liquidity requirement. Approximately 10 money market funds were newly registered in the past year. Thus, we estimate that the additional aggregate annual burden hours associated with general liquidity requirement policies and procedures is 90 hours. All funds are required to conduct an annual review of the adequacy of their existing policies and procedures and the policies and procedures of each investment adviser, principal underwriter, administrator, and transfer agent of the fund, and the effectiveness of their implementation. In addition, each fund chief compliance officer is required to prepare an annual report that addresses the operation of the policies and procedures of the fund and the policies and procedures of each investment adviser, principal underwriter, administrator, and transfer agent of the fund, any material changes made to those policies and procedures since the date of the last report, any material changes to the policies and procedures recommended as a result of the annual review, and certain compliance matters that occurred since E:\FR\FM\19OCN1.SGM 19OCN1

Agencies

[Federal Register Volume 77, Number 203 (Friday, October 19, 2012)]
[Notices]
[Pages 64366-64367]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-25727]


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POSTAL SERVICE


Market Test of Experimental Product--Metro Post

AGENCY: Postal ServiceTM.

ACTION: Notice.

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SUMMARY: The Postal Service gives notice of a market test of an 
experimental product in accordance with statutory requirements.

DATES: Effective date: October 19, 2012.

[[Page 64367]]


FOR FURTHER INFORMATION CONTACT: Elizabeth A. Reed, 202-268-3179.

SUPPLEMENTARY INFORMATION: The United States Postal Service[supreg] 
hereby gives notice that, pursuant to 39 U.S.C. 3641(c)(1), it will 
begin a market test of its Metro Post experimental product on or after 
November 12, 2012. The Postal Service has filed with the Postal 
Regulatory Commission a notice setting out the basis for the Postal 
Service's determination that the market test is covered by 39 U.S.C. 
3641 and describing the nature and scope of the market test. Documents 
are available at www.prc.gov, Docket No. MT2013-1.

Stanley F. Mires,
Attorney, Legal Policy & Legislative Advice.
[FR Doc. 2012-25727 Filed 10-18-12; 8:45 am]
BILLING CODE 7710-12-P