Trade Options, 31326-31327 [2015-13347]

Download as PDF 31326 Federal Register / Vol. 80, No. 105 / Tuesday, June 2, 2015 / Proposed Rules Authority for This Rulemaking Title 49 of the United States Code specifies the FAA’s authority to issue rules on aviation safety. Subtitle I, Section 106, describes the authority of the FAA Administrator. Subtitle VII, Aviation Programs, describes in more detail the scope of the Agency’s authority. We are issuing this rulemaking under the authority described in Subtitle VII, Part A, Subpart III, Section 44701, ‘‘General requirements.’’ Under that section, Congress charges the FAA with promoting safe flight of civil aircraft in air commerce by prescribing regulations for practices, methods, and procedures the Administrator finds necessary for safety in air commerce. This regulation is within the scope of that authority because it addresses an unsafe condition that is likely to exist or develop on products identified in this rulemaking action. Regulatory Findings We have determined that this proposed AD would not have federalism implications under Executive Order 13132. This proposed AD would not have a substantial direct effect on the States, on the relationship between the national Government and the States, or on the distribution of power and responsibilities among the various levels of government. For the reasons discussed above, I certify that the proposed regulation: (1) Is not a ‘‘significant regulatory action’’ under Executive Order 12866, (2) Is not a ‘‘significant rule’’ under the DOT Regulatory Policies and Procedures (44 FR 11034, February 26, 1979), (3) Will not affect intrastate aviation in Alaska to the extent that it justifies making a regulatory distinction, and (4) Will not have a significant economic impact, positive or negative, on a substantial number of small entities under the criteria of the Regulatory Flexibility Act. List of Subjects in 14 CFR Part 39 Air transportation, Aircraft, Aviation safety, Incorporation by reference, Safety. tkelley on DSK3SPTVN1PROD with PROPOSALS The Proposed Amendment Accordingly, under the authority delegated to me by the Administrator, the FAA proposes to amend 14 CFR part 39 as follows: PART 39—AIRWORTHINESS DIRECTIVES 1. The authority citation for part 39 continues to read as follows: ■ VerDate Sep<11>2014 16:57 Jun 01, 2015 Jkt 235001 Authority: 49 U.S.C. 106(g), 40113, 44701. § 39.13 [Amended] 2. The FAA amends § 39.13 by removing Airworthiness Directive (AD) 2014–14–02, Amendment 39–17896 (79 FR 39958, July 11, 2014), and adding the following new AD: ■ Pratt & Whitney Canada Corp.: Docket No. FAA–2013–1059; Directorate Identifier 2013–NE–36–AD. (a) Comments Due Date The FAA must receive comments on this AD action by August 3, 2015. (b) Affected ADs This AD replaces AD 2014–14–02, Amendment 39–17896 (79 FR 39958, July 11, 2014). (c) Applicability This AD applies to Pratt & Whitney Canada Corp. (P&WC) PW120, PW121, and PW121A turboprop engines with post SB 21610 configuration; PW124B, PW127, PW127E, and PW127F turboprop engines with post SB 21607 configuration; PW127E and PW127F turboprop engines with serial numbers (S/Ns) PCE–EB0366 and earlier; PW127G turboprop engines with S/Ns PCE–AX0275 and earlier; and PW127M turboprop engines with S/Ns PCE–ED0810 and earlier. (d) Unsafe Condition This AD was prompted by reports of fuel seepage past the metal-to-metal sealing surfaces of the fuel nozzle and fuel manifold flow adapter. We are issuing this AD to prevent in-flight fuel leakage, engine fire, damage to the engine, and damage to the airplane. (e) Compliance Comply with this AD within the compliance times specified, unless already done. Within 1,500 flight hours after the effective date of this AD, or at the next engine shop visit, whichever occurs first: (1) Remove the O-ring seal from the fuel manifold fitting, (2) Remove fuel manifold flow adapter, part number (P/Ns) 3059754–01, 3059757– 01, and 3059760–01; and (3) Install a fuel nozzle gasket and fuel manifold flow adapter that are eligible for installation in accordance with paragraphs 3.A, 3.B, and 3.C of P&WC SB No. PW100– 72–21861, dated November 21, 2014. (f) Installation Prohibition After the effective date of this AD, fuel manifold adapter, P/Ns 3059754–01, 3059757–01, and 3059760–01, and fuel manifold gasket, P/N 3079354–01, are not eligible for installation in any engine. (g) Definition For the purpose of this AD, an engine shop visit is the induction of an engine into the shop for maintenance involving the separation of pairs of major mating engine flanges. The separation of engine flanges solely for the purpose of transportation without subsequent engine maintenance does not constitute an engine shop visit. PO 00000 Frm 00003 Fmt 4702 Sfmt 4702 (h) Alternative Methods of Compliance (AMOCs) The Manager, Engine Certification Office, FAA, may approve AMOCs to this AD. Use the procedures found in 14 CFR 39.19 to make your request. You may email your request to: ANE-AD-AMOC@faa.gov. (i) Related Information (1) For more information about this AD, contact Barbara Caufield, Aerospace Engineer, Engine Certification Office, FAA, Engine & Propeller Directorate, 12 New England Executive Park, Burlington, MA 01803; phone: 781–238–7146; fax: 781–238– 7199; email: barbara.caufield@faa.gov. (2) Refer to MCAI Transport Canada AD CF–2014–41, dated November 26, 2014, for related information. You may examine the MCAI in the AD docket on the Internet at https://www.regulations.gov by searching for and locating it in Docket No. FAA–2013– 1059. (3) P&WC SB No. PW100–72–21861, dated November 21, 2014; P&WC SB No. PW100– 72–21803, Revision No. 5, dated November 21, 2014; P&WC SB No. PW100–72–21860, Revision No. 2, dated November 21, 2014; and P&WC SB No. PW100–72–21841, Revision No. 3 dated December 22, 2014, can be obtained from Pratt & Whitney Canada, using the contact information in paragraph (i)(4) of this AD. (4) For service information identified in this AD, contact Pratt & Whitney Canada Corp., 1000 Marie-Victorin Blvd., Longueuil, Quebec, Canada, J4G 1A1; phone: 800–268– 8000; fax: 450–647–2888; Web site: www.pwc.ca. (5) You may view this service information at the FAA, Engine & Propeller Directorate, 12 New England Executive Park, Burlington, MA. For information on the availability of this material at the FAA, call 781–238–7125. Issued in Burlington, Massachusetts, on May 19, 2015. Carlos A. Pestana, Acting Directorate Manager, Engine & Propeller Directorate, Aircraft Certification Service. [FR Doc. 2015–12768 Filed 6–1–15; 8:45 am] BILLING CODE 4910–13–P COMMODITY FUTURES TRADING COMMISSION 17 CFR Part 32 RIN 3038–AE26 Trade Options Commodity Futures Trading Commission. ACTION: Notice of proposed rulemaking; extension of comment period. AGENCY: On May 7, 2015, the Commodity Futures Trading Commission (‘‘Commission’’ or ‘‘CFTC’’) published in the Federal Register a notice of proposed rulemaking (the ‘‘Trade Options SUMMARY: E:\FR\FM\02JNP1.SGM 02JNP1 tkelley on DSK3SPTVN1PROD with PROPOSALS Federal Register / Vol. 80, No. 105 / Tuesday, June 2, 2015 / Proposed Rules Proposal’’) to amend the limited trade option exemption in part 32 of its regulations. The Commission is extending the comment period for the Trade Options Proposal in light of the Commission’s recent interpretation concerning forward contracts with embedded volumetric optionality. DATES: The comment period for the Trade Options Proposal published on May 7, 2015, at 80 FR 26200, is extended until June 22, 2015. ADDRESSES: You may submit comments, identified by RIN 3038–AE26, by any one of the following methods: • CFTC Web site: https:// comments.cftc.gov. Follow the instructions for submitting comments through the Comments Online process on the Web site. • Mail: Send to Christopher Kirkpatrick, Secretary of the Commission, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street NW., Washington, DC 20581. • Hand Delivery/Courier: Same as Mail, above. • Federal eRulemaking Portal: https:// www.regulations.gov. Follow the instructions for submitting comments. Please submit your comments using only one of these methods. All comments must be submitted in English, or if not, accompanied by an English translation. Comments will be posted as received to www.cftc.gov. You should submit only information that you wish to make available publicly. If you wish the Commission to consider information that may be exempt from disclosure under the Freedom of Information Act, a petition for confidential treatment of the exempt information may be submitted according to the procedures established in § 145.9 of the CFTC’s regulations, 17 CFR 145.9. The Commission reserves the right, but shall have no obligation, to review, pre-screen, filter, redact, refuse, or remove any or all of a submission from www.cftc.gov that it may deem to be inappropriate for publication, such as obscene language. All submissions that have been redacted or removed that contain comments on the merits of the rulemaking will be retained in the public comment file and will be considered as required under the Administrative Procedure Act and other applicable laws, and may be accessible under the Freedom of Information Act. FOR FURTHER INFORMATION CONTACT: David N. Pepper, Special Counsel, Division of Market Oversight, at (202) 418–5565 or dpepper@cftc.gov; or Elise Pallais, Counsel, Office of the General Counsel, at (202) 418–5577 or epallais@ VerDate Sep<11>2014 16:57 Jun 01, 2015 Jkt 235001 cftc.gov; Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street NW., Washington, DC 20581. SUPPLEMENTARY INFORMATION: On May 7, 2015, the Commission published a proposal to amend the trade option exemption in part 32 of its regulations in the following subject areas: (1) Reporting requirements for trade option counterparties that are not swap dealers or major swap participants; (2) recordkeeping requirements for trade option counterparties that are not swap dealers or major swap participants; and (3) certain non-substantive amendments.1 Generally, these proposed amendments are intended to facilitate use of trade options by commercial market participants to hedge against commercial and physical risks. On May 18, 2015, the Commission published its final interpretation regarding forward contracts with embedded volumetric optionality.2 The interpretation identifies when an agreement, contract, or transaction would fall within the forward contract exclusions from the ‘‘swap’’ and ‘‘future delivery’’ definitions in the Commodity Exchange Act (‘‘CEA’’), notwithstanding that it allows for variations in the delivery amount (i.e., contains ‘‘embedded volumetric optionality’’). In light of the recent publication of the Commission’s interpretation on forward contracts with embedded volumetric optionality, the Commission is extending the comment period for the Trade Options Proposal until June 22, 2015. Issued in Washington, DC, on May 28, 2015, by the Commission. Christopher J. Kirkpatrick, Secretary of the Commission. Note: The following appendix will not appear in the Code of Federal Regulations. Appendix to Trade Options Extension of Comment Period—Commission Voting Summary On this matter, Chairman Massad and Commissioners Wetjen, Bowen, and 1 Trade Options, Notice of Proposed Rulemaking, 80 FR 26200 (May 7, 2015). 2 Forward Contracts with Embedded Volumetric Optionality, 80 FR 28239 (May 18, 2015). In accordance with section 712(d)(4) of the DoddFrank Wall Street Reform and Consumer Protection Act, the interpretation was issued jointly with the U.S. Securities and Exchange Commission after consultation with the Board of Governors of the Federal Reserve System. Although the interpretation was issued jointly, it is an interpretation solely of the CFTC and does not apply to the exclusion from the swap and securitybased swap definitions for security forwards or to the distinction between security forwards and security futures products. PO 00000 Frm 00004 Fmt 4702 Sfmt 4702 31327 Giancarlo voted in the affirmative. No Commissioner voted in the negative. [FR Doc. 2015–13347 Filed 6–1–15; 8:45 am] BILLING CODE 6351–01–P DEPARTMENT OF TRANSPORTATION Federal Highway Administration 23 CFR Part 625 [Docket No. FHWA–2015–0003] [RIN 2125–AF67] Design Standards for Highways Federal Highway Administration (FHWA), Department of Transportation (DOT). ACTION: Notice of proposed rulemaking (NRPM); request for comments. AGENCY: The FHWA requests comments on a proposed revision to design standards and standard specifications that applies to new construction, reconstruction, resurfacing (except for maintenance resurfacing), restoration, and rehabilitation projects on the National Highway System (NHS). The proposed rule would incorporate by reference the latest versions of design standards and standard specifications previously adopted and incorporated by reference under 23 CFR part 625, and would remove the corresponding outdated or superseded versions of these standards and specifications. The proposed rule also would make technical changes to the regulatory text consistent with updated Federal Register procedures. DATES: Comments must be received on or before July 2, 2015. Late comments will be considered to the extent practicable. SUMMARY: You may submit comments identified by the docket number FHWA–2015–0003 by any one of the following methods: Fax: 1–202–493–2251; Mail: U.S. Department of Transportation, Docket Operations, M– 30, West Building Ground Floor, Room W12–140, 1200 New Jersey Avenue SE., Washington, DC 20590; Hand Delivery: U.S. Department of Transportation, Docket Operations, West Building Ground Floor, Room W12–140, 1200 New Jersey Avenue SE., Washington, DC 20590, between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays; or Electronically through the Federal eRulemaking Portal: https:// www.regulations.gov. Follow the online instructions for submitting comments. ADDRESSES: E:\FR\FM\02JNP1.SGM 02JNP1

Agencies

[Federal Register Volume 80, Number 105 (Tuesday, June 2, 2015)]
[Proposed Rules]
[Pages 31326-31327]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-13347]


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COMMODITY FUTURES TRADING COMMISSION

17 CFR Part 32

RIN 3038-AE26


Trade Options

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice of proposed rulemaking; extension of comment period.

-----------------------------------------------------------------------

SUMMARY: On May 7, 2015, the Commodity Futures Trading Commission 
(``Commission'' or ``CFTC'') published in the Federal Register a notice 
of proposed rulemaking (the ``Trade Options

[[Page 31327]]

Proposal'') to amend the limited trade option exemption in part 32 of 
its regulations. The Commission is extending the comment period for the 
Trade Options Proposal in light of the Commission's recent 
interpretation concerning forward contracts with embedded volumetric 
optionality.

DATES: The comment period for the Trade Options Proposal published on 
May 7, 2015, at 80 FR 26200, is extended until June 22, 2015.

ADDRESSES: You may submit comments, identified by RIN 3038-AE26, by any 
one of the following methods:
     CFTC Web site: https://comments.cftc.gov. Follow the 
instructions for submitting comments through the Comments Online 
process on the Web site.
     Mail: Send to Christopher Kirkpatrick, Secretary of the 
Commission, Commodity Futures Trading Commission, Three Lafayette 
Centre, 1155 21st Street NW., Washington, DC 20581.
     Hand Delivery/Courier: Same as Mail, above.
     Federal eRulemaking Portal: https://www.regulations.gov. 
Follow the instructions for submitting comments.
    Please submit your comments using only one of these methods.
    All comments must be submitted in English, or if not, accompanied 
by an English translation. Comments will be posted as received to 
www.cftc.gov. You should submit only information that you wish to make 
available publicly. If you wish the Commission to consider information 
that may be exempt from disclosure under the Freedom of Information 
Act, a petition for confidential treatment of the exempt information 
may be submitted according to the procedures established in Sec.  145.9 
of the CFTC's regulations, 17 CFR 145.9.
    The Commission reserves the right, but shall have no obligation, to 
review, pre-screen, filter, redact, refuse, or remove any or all of a 
submission from www.cftc.gov that it may deem to be inappropriate for 
publication, such as obscene language. All submissions that have been 
redacted or removed that contain comments on the merits of the 
rulemaking will be retained in the public comment file and will be 
considered as required under the Administrative Procedure Act and other 
applicable laws, and may be accessible under the Freedom of Information 
Act.

FOR FURTHER INFORMATION CONTACT: David N. Pepper, Special Counsel, 
Division of Market Oversight, at (202) 418-5565 or dpepper@cftc.gov; or 
Elise Pallais, Counsel, Office of the General Counsel, at (202) 418-
5577 or epallais@cftc.gov; Commodity Futures Trading Commission, Three 
Lafayette Centre, 1155 21st Street NW., Washington, DC 20581.

SUPPLEMENTARY INFORMATION: On May 7, 2015, the Commission published a 
proposal to amend the trade option exemption in part 32 of its 
regulations in the following subject areas: (1) Reporting requirements 
for trade option counterparties that are not swap dealers or major swap 
participants; (2) recordkeeping requirements for trade option 
counterparties that are not swap dealers or major swap participants; 
and (3) certain non-substantive amendments.\1\ Generally, these 
proposed amendments are intended to facilitate use of trade options by 
commercial market participants to hedge against commercial and physical 
risks.
---------------------------------------------------------------------------

    \1\ Trade Options, Notice of Proposed Rulemaking, 80 FR 26200 
(May 7, 2015).
---------------------------------------------------------------------------

    On May 18, 2015, the Commission published its final interpretation 
regarding forward contracts with embedded volumetric optionality.\2\ 
The interpretation identifies when an agreement, contract, or 
transaction would fall within the forward contract exclusions from the 
``swap'' and ``future delivery'' definitions in the Commodity Exchange 
Act (``CEA''), notwithstanding that it allows for variations in the 
delivery amount (i.e., contains ``embedded volumetric optionality'').
---------------------------------------------------------------------------

    \2\ Forward Contracts with Embedded Volumetric Optionality, 80 
FR 28239 (May 18, 2015). In accordance with section 712(d)(4) of the 
Dodd-Frank Wall Street Reform and Consumer Protection Act, the 
interpretation was issued jointly with the U.S. Securities and 
Exchange Commission after consultation with the Board of Governors 
of the Federal Reserve System. Although the interpretation was 
issued jointly, it is an interpretation solely of the CFTC and does 
not apply to the exclusion from the swap and security-based swap 
definitions for security forwards or to the distinction between 
security forwards and security futures products.
---------------------------------------------------------------------------

    In light of the recent publication of the Commission's 
interpretation on forward contracts with embedded volumetric 
optionality, the Commission is extending the comment period for the 
Trade Options Proposal until June 22, 2015.

    Issued in Washington, DC, on May 28, 2015, by the Commission.
Christopher J. Kirkpatrick,
Secretary of the Commission.

    Note: The following appendix will not appear in the Code of 
Federal Regulations.

Appendix to Trade Options Extension of Comment Period--Commission 
Voting Summary

    On this matter, Chairman Massad and Commissioners Wetjen, Bowen, 
and Giancarlo voted in the affirmative. No Commissioner voted in the 
negative.

[FR Doc. 2015-13347 Filed 6-1-15; 8:45 am]
 BILLING CODE 6351-01-P
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