Order Regarding Review of Fasb Accounting Support Fee for 2016 Under Section 109 of the Sarbanes-Oxley Act of 2002, 25454-25455 [2016-09930]

Download as PDF 25454 Federal Register / Vol. 81, No. 82 / Thursday, April 28, 2016 / Notices Mr. Christopher Wamser, Site Vice President Entergy Nuclear Operations, Inc. Vermont Yankee Nuclear Power Station P. O. Box 250 Vernon, VT 05354 Waterford Steam Electric Station. Unit 3 Entergy Operations, Inc. Docket No. 50–382 License No. NPF–38 Mr. Michael R. Chisum, Site Vice President Entergy Operations, Inc. Waterford Steam Electric Station 17265 River Road Killona, LA 70057–0751 [FR Doc. 2016–09841 Filed 4–27–16; 8:45 am] BILLING CODE 7590–01–P NUCLEAR REGULATORY COMMISSION Advisory Committee on Reactor Safeguards (ACRS) Meeting of the ACRS Subcommittee On Reliability & PRA; Notice of Meeting The ACRS Subcommittee on Reliability & PRA will hold a meeting on May 18, 2016, Room T–2B1, 11545 Rockville Pike, Rockville, Maryland. The meeting will be open to public attendance. The agenda for the subject meeting shall be as follows: mstockstill on DSK3G9T082PROD with NOTICES Wednesday, May 18, 2016, 8:30 a.m. until 12:00 p.m. The Subcommittee will be briefed on a soon-to-be-published report (NUREG/ KM–0009) on historical review and observation of defense-in-depth. The Subcommittee will also be briefed on the plan to update Regulatory Guide 1.174. The Subcommittee will hear presentations by and hold discussions with the NRC staff and other interested persons regarding this matter. The Subcommittee will gather information, analyze relevant issues and facts, and formulate proposed positions and actions, as appropriate, for deliberation by the Full Committee. Members of the public desiring to provide oral statements and/or written comments should notify the Designated Federal Official (DFO), John Lai (Telephone 301–415–5197 or Email: John.Lai@nrc.gov) five days prior to the meeting, if possible, so that appropriate arrangements can be made. Thirty-five hard copies of each presentation or handout should be provided to the DFO thirty minutes before the meeting. In addition, one electronic copy of each VerDate Sep<11>2014 22:09 Apr 27, 2016 Jkt 238001 presentation should be emailed to the DFO one day before the meeting. If an electronic copy cannot be provided within this timeframe, presenters should provide the DFO with a CD containing each presentation at least thirty minutes before the meeting. Electronic recordings will be permitted only during those portions of the meeting that are open to the public. Detailed procedures for the conduct of and participation in ACRS meetings were published in the Federal Register on October 21, 2015, (80 FR 63846). Detailed meeting agendas and meeting transcripts are available on the NRC Web site at https://www.nrc.gov/readingrm/doc-collections/acrs. Information regarding topics to be discussed, changes to the agenda, whether the meeting has been canceled or rescheduled, and the time allotted to present oral statements can be obtained from the Web site cited above or by contacting the identified DFO. Moreover, in view of the possibility that the schedule for ACRS meetings may be adjusted by the Chairman as necessary to facilitate the conduct of the meeting, persons planning to attend should check with these references if such rescheduling would result in a major inconvenience. If attending this meeting, please enter through the One White Flint North building, 11555 Rockville Pike, Rockville, MD. After registering with security, please contact Mr. Theron Brown (Telephone 240–888–9835) to be escorted to the meeting room. Dated: April 19, 2016. Mark L. Banks, Chief, Technical Support Branch, Advisory Committee on Reactor Safeguards. [FR Doc. 2016–09885 Filed 4–27–16; 8:45 am] BILLING CODE 7590–01–P SECURITIES AND EXCHANGE COMMISSION In the Matter of Valentine Beauty Inc., File No. 500–1; Order of Suspension of Trading April 26, 2016. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Valentine Beauty Inc. (‘‘VLBI’’) because of concerns regarding the accuracy and adequacy of information in the marketplace and suspicious market activity relating to VLBI common stock. VLBI is a Nevada corporation with its principal place of business located in Sunrise, Florida. Its stock is quoted on PO 00000 Frm 00086 Fmt 4703 Sfmt 4703 OTC Link, operated by OTC Markets Group Inc., under the ticker: VLBI. The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above-listed company. THEREFORE, IT IS ORDERED, pursuant to Section 12(k) of the Securities Exchange Act of 1934, that trading in the securities of the abovelisted company is suspended for the period from 9:30 a.m. EDT on April 26, 2016, through 11:59 p.m. EDT on May 9, 2016. By the Commission. Brent J. Fields, Secretary. [FR Doc. 2016–10031 Filed 4–26–16; 11:15 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Order Regarding Review of Fasb Accounting Support Fee for 2016 Under Section 109 of the SarbanesOxley Act of 2002 Securities Act of 1933, Release No. 10073/ April 22, 2016 Securities Exchange Act of 1934, Release No. 77698/April 22, 2016 The Sarbanes-Oxley Act of 2002 (the ‘‘Act’’) provides that the Securities and Exchange Commission (the ‘‘Commission’’) may recognize, as generally accepted for purposes of the securities laws, any accounting principles established by a standard setting body that meets certain criteria. Consequently, Section 109 of the Act provides that all of the budget of such a standard setting body shall be payable from an annual accounting support fee assessed and collected against each issuer, as may be necessary or appropriate to pay for the budget and provide for the expenses of the standard setting body, and to provide for an independent, stable source of funding, subject to review by the Commission. Under Section 109(f) of the Act, the amount of fees collected for a fiscal year shall not exceed the ‘‘recoverable budget expenses’’ of the standard setting body. Section 109(h) amends Section 13(b)(2) of the Securities Exchange Act of 1934 to require issuers to pay the allocable share of a reasonable annual accounting support fee or fees, determined in accordance with Section 109 of the Act. On April 25, 2003, the Commission issued a policy statement concluding that the Financial Accounting Standards Board (‘‘FASB’’) and its parent organization, the Financial Accounting E:\FR\FM\28APN1.SGM 28APN1 25455 Federal Register / Vol. 81, No. 82 / Thursday, April 28, 2016 / Notices Foundation (‘‘FAF’’), satisfied the criteria for an accounting standardsetting body under the Act, and recognizing the FASB’s financial accounting and reporting standards as ‘‘generally accepted’’ under Section 108 of the Act.1 As a consequence of that recognition, the Commission undertook a review of the FASB’s accounting support fee for calendar year 2016.2 In connection with its review, the Commission also reviewed the budget for the FAF and the FASB for calendar year 2016. Section 109 of the Act also provides that the standard setting body can have additional sources of revenue for its activities, such as earnings from sales of publications, provided that each additional source of revenue shall not jeopardize, in the judgment of the Commission, the actual or perceived independence of the standard setter. In this regard, the Commission also considered the interrelation of the operating budgets of the FAF, the FASB, and the Governmental Accounting Standards Board (‘‘GASB’’), the FASB’s sister organization, which sets accounting standards used by state and local government entities. The Commission has been advised by the FAF that neither the FAF, the FASB, nor the GASB accept contributions from the accounting profession. The Commission understands that the Office of Management and Budget (‘‘OMB’’) has determined the FASB’s spending of the 2016 accounting support fee is sequestrable under the Budget Control Act of 2011.3 So long as sequestration is applicable, we anticipate that the FAF will work with the Commission and Commission staff as appropriate regarding its implementation of sequestration. After its review, the Commission determined that the 2016 annual accounting support fee for the FASB is consistent with Section 109 of the Act. Accordingly, It is ordered, pursuant to Section 109 of the Act, that the FASB may act in accordance with this determination of the Commission. By the Commission. Brent J. Fields, Secretary. [FR Doc. 2016–09930 Filed 4–27–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–77695; File No. SR–BOX– 2016–20] Self-Regulatory Organizations; BOX Options Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Fee Schedule on the BOX Market LLC (‘‘BOX’’) Options Facility April 22, 2016. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on April 21, 2016, BOX Options Exchange LLC (the ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the Exchange. The Exchange filed the proposed rule change pursuant to Section 19(b)(3)(A)(ii) of the Act,3 and Rule 19b–4(f)(2) thereunder,4 which renders the proposal effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of the Substance of the Proposed Rule Change The Exchange is filing with the Securities and Exchange Commission (‘‘Commission’’) a proposed rule change to amend the BOX Volume Rebate (‘‘BVR’’) in Section I.B.2 of the Fee Schedule on the BOX Market LLC (‘‘BOX’’) options facility. The text of the proposed rule change is available from the principal office of the Exchange, at the Commission’s Public Reference Room and also on the Exchange’s Internet Web site at https:// boxexchange.com. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in Sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to amend the Fee Schedule for trading on BOX. Specifically, the Exchange proposes to amend the BOX Volume Rebate (‘‘BVR’’) in Section I.B.2 of the Fee Schedule. Under the current BVR, the Exchange offers a tiered per contract rebate for all PIP Orders and COPIP Orders of 100 contracts and under that do not trade solely with their contra order. These PIP and COPIP executions are awarded a per contract rebate calculated on a monthly basis by totaling the Participant’s PIP and COPIP volume submitted to BOX, relative to the total national Customer volume in multiply-listed options classes. The current per contract rebate for Participants in PIP and COPIP Transactions under the BVR is: Per contract rebate (all account types) Percentage thresholds of national customer volume in multiply-listed options classes (monthly) Tier mstockstill on DSK3G9T082PROD with NOTICES PIP 1 2 3 4 .......... .......... .......... .......... 0.000% to 0.159% .................................................................................................................................. 0.160 to 0.339 ........................................................................................................................................ 0.340 to 0.99 .......................................................................................................................................... 1.00 and Above ...................................................................................................................................... 1 Financial Reporting Release No. 70. FAF’s Board of Trustees approved the FASB’s budget on November 17, 2015. The FAF submitted the approved budget to the Commission on December 4, 2015. 2 The VerDate Sep<11>2014 22:09 Apr 27, 2016 Jkt 238001 3 See ‘‘OMB Report Pursuant to the Sequestration Transparency Act of 2012’’ (Pub. L. 112–155), page 222 of 224 at: https://www.whitehouse.gov/sites/ default/files/omb/assets/legislative_reports/ stareport.pdf. PO 00000 Frm 00087 Fmt 4703 Sfmt 4703 1 15 ($0.00) (0.04) (0.11) (0.14) U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A)(ii). 4 17 CFR 240.19b–4(f)(2). 2 17 E:\FR\FM\28APN1.SGM 28APN1 COPIP ($0.00) (0.02) (0.04) (0.06)

Agencies

[Federal Register Volume 81, Number 82 (Thursday, April 28, 2016)]
[Notices]
[Pages 25454-25455]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-09930]


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SECURITIES AND EXCHANGE COMMISSION


Order Regarding Review of Fasb Accounting Support Fee for 2016 
Under Section 109 of the Sarbanes-Oxley Act of 2002

Securities Act of 1933, Release No. 10073/April 22, 2016
Securities Exchange Act of 1934, Release No. 77698/April 22, 2016

    The Sarbanes-Oxley Act of 2002 (the ``Act'') provides that the 
Securities and Exchange Commission (the ``Commission'') may recognize, 
as generally accepted for purposes of the securities laws, any 
accounting principles established by a standard setting body that meets 
certain criteria. Consequently, Section 109 of the Act provides that 
all of the budget of such a standard setting body shall be payable from 
an annual accounting support fee assessed and collected against each 
issuer, as may be necessary or appropriate to pay for the budget and 
provide for the expenses of the standard setting body, and to provide 
for an independent, stable source of funding, subject to review by the 
Commission. Under Section 109(f) of the Act, the amount of fees 
collected for a fiscal year shall not exceed the ``recoverable budget 
expenses'' of the standard setting body. Section 109(h) amends Section 
13(b)(2) of the Securities Exchange Act of 1934 to require issuers to 
pay the allocable share of a reasonable annual accounting support fee 
or fees, determined in accordance with Section 109 of the Act.
    On April 25, 2003, the Commission issued a policy statement 
concluding that the Financial Accounting Standards Board (``FASB'') and 
its parent organization, the Financial Accounting

[[Page 25455]]

Foundation (``FAF''), satisfied the criteria for an accounting 
standard-setting body under the Act, and recognizing the FASB's 
financial accounting and reporting standards as ``generally accepted'' 
under Section 108 of the Act.\1\ As a consequence of that recognition, 
the Commission undertook a review of the FASB's accounting support fee 
for calendar year 2016.\2\ In connection with its review, the 
Commission also reviewed the budget for the FAF and the FASB for 
calendar year 2016.
---------------------------------------------------------------------------

    \1\ Financial Reporting Release No. 70.
    \2\ The FAF's Board of Trustees approved the FASB's budget on 
November 17, 2015. The FAF submitted the approved budget to the 
Commission on December 4, 2015.
---------------------------------------------------------------------------

    Section 109 of the Act also provides that the standard setting body 
can have additional sources of revenue for its activities, such as 
earnings from sales of publications, provided that each additional 
source of revenue shall not jeopardize, in the judgment of the 
Commission, the actual or perceived independence of the standard 
setter. In this regard, the Commission also considered the 
interrelation of the operating budgets of the FAF, the FASB, and the 
Governmental Accounting Standards Board (``GASB''), the FASB's sister 
organization, which sets accounting standards used by state and local 
government entities. The Commission has been advised by the FAF that 
neither the FAF, the FASB, nor the GASB accept contributions from the 
accounting profession.
    The Commission understands that the Office of Management and Budget 
(``OMB'') has determined the FASB's spending of the 2016 accounting 
support fee is sequestrable under the Budget Control Act of 2011.\3\ So 
long as sequestration is applicable, we anticipate that the FAF will 
work with the Commission and Commission staff as appropriate regarding 
its implementation of sequestration.
---------------------------------------------------------------------------

    \3\ See ``OMB Report Pursuant to the Sequestration Transparency 
Act of 2012'' (Pub. L. 112-155), page 222 of 224 at: https://www.whitehouse.gov/sites/default/files/omb/assets/legislative_reports/stareport.pdf.
---------------------------------------------------------------------------

    After its review, the Commission determined that the 2016 annual 
accounting support fee for the FASB is consistent with Section 109 of 
the Act. Accordingly,
    It is ordered, pursuant to Section 109 of the Act, that the FASB 
may act in accordance with this determination of the Commission.

    By the Commission.
Brent J. Fields,
Secretary.
[FR Doc. 2016-09930 Filed 4-27-16; 8:45 am]
 BILLING CODE 8011-01-P
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