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