Advisory Committee for Mathematical and Physical Sciences; Notice of Meeting, 11840-11841 [2019-05910]
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Federal Register / Vol. 84, No. 60 / Thursday, March 28, 2019 / Notices
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Schedules Pending:
1. Department of Agriculture, Forest
Service, Special Uses Administration
(DAA–0095–2018–0059).
2. Department of Agriculture, Forest
Service, Road and Trail Rights-of-Way
(ROW) Grants (DAA–0095–2018–0060).
3. Department of Agriculture, Forest
Service, Forest Service Authorized
Prospecting and Mineral Collecting
(DAA–0095–2018–0064).
4. Department of Agriculture, Forest
Service, Geologic Resources, Hazards,
and Services (DAA–0095–2018–0065).
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5. Department of Agriculture, Forest
Service, Natural Resource Planning
(DAA–0095–2018–0090).
6. Department of Agriculture, Forest
Service, Land Management Planning
(DAA–0095–2018–0091).
7. Department of Commerce, National
Institutes of Standards and Technology,
Human Subjects Protection Office
Records (DAA–0167–2018–0002).
8. Department of Defense, Defense
Security Service, Special Access
Program (SAP) (DAA–0446–2016–0005).
9. Department of Defense, Defense
Security Service, Administrative
Program Files (DAA–0446–2018–0002).
10. Department of Defense, Defense
Security Service, Strategic Management
Office (DAA–0446–2018–0004).
11. Department of Defense, Defense
Threat Reduction Agency, DTRA
Learning Management System (DAA–
0374–2018–0008).
12. Department of Health and Human
Services, National Institutes of Health,
NIH Architectural Drawings of
Historical Significance (DAA–0443–
2018–0001).
13. Department of Homeland Security,
Bureau of Customs and Border
Protection, U.S. Citizen Encounter
Photos (DAA–0568–2019–0002).
14. Army & Air Force Exchange
Service, Agency-wide, Payroll
Allotment Files (DAA–0334–2018–
0008).
15. Bureau of the Census, Center for
Behavioral Science Methods, Records
for the Center for Survey Measurement
(DAA–0029–2018–0001).
16. National Archives and Records
Administration, Government-wide,
Additions to GRS 5.7 (DAA–GRS–2018–
0009).
Laurence Brewer,
Chief Records Officer for the U.S.
Government.
BILLING CODE 7515–01–P
NATIONAL CREDIT UNION
ADMINISTRATION
Sunshine Act; Notice of Agency
Meeting
1:00 p.m., Wednesday,
March 27, 2019.
PLACE: Board Room, 7th Floor, Room
7047, 1775 Duke Street, Alexandria, VA
22314–3428.
STATUS: Closed.
Pursuant to the provisions of the
‘‘Government in Sunshine Act,’’ notice
is hereby given that the NCUA Board
unanimously determined that agency
business required holding a closed
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CONTACT PERSON FOR MORE INFORMATION:
Gerard Poliquin, Secretary of the Board,
Telephone: 703–518–6304.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2019–06113 Filed 3–26–19; 4:15 pm]
BILLING CODE 7535–01–P
NATIONAL SCIENCE FOUNDATION
Advisory Committee for Mathematical
and Physical Sciences; Notice of
Meeting
In accordance with the Federal
Advisory Committee Act (Pub. L. 92–
463, as amended), the National Science
Foundation (NSF) announces the
following meeting:
Name and Committee Code: Advisory
Committee for Mathematical and
Physical Sciences (#66).
Date and Time: May 2, 2019; 8:30
a.m. to 4:00 p.m. May 3, 2019; 8:30 a.m.
to 12:30 p.m.
Place: NSF, 2415 Eisenhower Avenue,
Alexandria, VA 22314.
Type of Meeting: Open.
Contact Person: Nade`ge Aoki,
National Science Foundation, 2415
Eisenhower Avenue, Room C 9015B,
Alexandria, Virginia 22314; Telephone:
703/292–4934.
Purpose of Meeting: To provide
advice, recommendations and counsel
on major goals and policies pertaining
to MPS programs and activities.
Agenda
[FR Doc. 2019–05929 Filed 3–27–19; 8:45 am]
TIME AND DATE:
meeting with less than seven days’
notice to the public, and that no earlier
notice of the meeting was possible.
MATTERS TO BE CONSIDERED:
1. Consideration of Supervisory
Action. Closed pursuant to Exemptions
(8), (9) and (9)(ii).
Thursday, May 2, 2019; 8:30 a.m. to
4:00 p.m.
• Presentation: Update on MPS
Activities from Assistant Director
Anne Kinney
• Presentation and Discussion: Joined
session with OPP AC
• Presentation and Discussion: OLPA
• Presentation and Discussion: Update
on Materials Decadal Survey and
Spectrum Management
• Discussion with NSF COO
Friday, May 3, 2019; 8:30 a.m. to 12:30
p.m.
• Presentation and Discussion: Update
on Quantum Leap Big Idea
• Presentation and Discussion:
Synthetic Biology
• Discussion of MPS AC
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Federal Register / Vol. 84, No. 60 / Thursday, March 28, 2019 / Notices
Dated: March 22, 2019.
Crystal Robinson,
Committee Management Officer.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
[FR Doc. 2019–05910 Filed 3–27–19; 8:45 am]
BILLING CODE 7555–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–85400; File No. SR–MSRB–
2019–06]
Self-Regulatory Organizations;
Municipal Securities Rulemaking
Board; Notice of Filing and Immediate
Effectiveness of a Proposed Rule
Change To Amend MSRB Rule A–13 to
Temporarily Reduce the Rate of
Assessment for the MSRB’s
Underwriting, Transaction and
Technology Fees on Brokers, Dealers
and Municipal Securities Dealers
March 22, 2019.
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 March 14,
2019 the Municipal Securities
Rulemaking Board (‘‘MSRB’’) filed with
the Securities and Exchange
Commission (‘‘SEC’’ or ‘‘Commission’’)
the proposed rule change as described
in Items I, II, and III below, which Items
have been prepared by the MSRB. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
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I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The MSRB filed with the Commission
a proposed rule change to amend MSRB
Rule A–13, on underwriting and
transaction assessments for brokers,
dealers and municipal securities
dealers, to temporarily reduce the rate of
assessment for the MSRB’s
underwriting, transaction and
technology fees on brokers, dealers and
municipal securities dealers (‘‘dealers’’)
with respect to assessible activity that
occurs from April 1, 2019 through
September 30, 2019 (the ‘‘proposed rule
change’’). The MSRB has designated the
proposed rule change for immediate
effectiveness.
The text of the proposed rule change
is available on the MSRB’s website at
www.msrb.org/Rules-andInterpretations/SEC-Filings/2019Filings.aspx, at the MSRB’s principal
office, and at the Commission’s Public
Reference Room.
1 15
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
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In its filing with the Commission, the
MSRB 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 MSRB 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 purpose of the proposed rule
change is to temporarily reduce the rate
of assessment for the MSRB’s
underwriting, transaction and
technology fees for dealers under Rule
A–13, with respect to assessible activity
that occurs from April 1, 2019 through
September 30, 2019. The proposed rule
change is designed to reduce, in a
carefully considered and strategic
manner, MSRB reserves in a way that
furthers the fair and equitable balance of
fees across regulated entities.
Background
The MSRB discharges its statutory
mandate under the Exchange Act
through the establishment of rules for
dealers and municipal advisors
(together with dealers, ‘‘regulated
entities’’), the collection and
dissemination of market information,
market leadership, outreach and
education. To fund its responsibilities,
the MSRB assesses fees on regulated
entities, where the majority of the fees
are driven by market activity. Moreover,
as a self-regulatory organization, the
MSRB must maintain sufficient reserves
to discharge its responsibilities and
operate without interruption, even in an
economic downturn. Reserves are
necessary to mitigate fluctuations in the
MSRB’s primarily market-driven
revenue stream, and provide a backstop
for funding services essential to the
efficiency of the market. The MSRB
manages reserves balances relative to a
Board-approved target, and the Board
recently revised the target construct
which resulted in lowering of the target.
As a result, following a prior fee
reduction in the first quarter of the
MRSB’s Fiscal Year 2019 which
occurred before the change in the
reserves target (the ‘‘first Fiscal Year
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11841
2019 temporary fee reduction’’),3 the
Board determined that, given the impact
of the newly lowered target, a second
temporary fee reduction was necessary
and appropriate to manage reserves
balances.
Financial Reserves and the Board’s
Holistic Review of MSRB Fees
In 2010, after several years of heavy
investment in the technological
infrastructure needed to launch the
MSRB’s Electronic Municipal Market
Access (EMMA®) website, the MSRB’s
financial reserve levels had dropped
below the then reserve target that the
MSRB had previously established. As a
result, replenishing the MSRB’s reserves
became a priority. The following year,
the MSRB increased the transaction fee
under Rule A–13 and began assessing a
new technology fee for dealers under
the same rule.4 By 2014, revenue from
the technology fee had generated
sufficient resources to stabilize the
technology reserve and allowed the
MSRB to rebate $3.6 million in
technology fees to eligible dealers.
Further, in 2014, with the extension of
the MSRB’s jurisdiction to regulate
municipal advisors, this class of
regulated entity began contributing to
the cost of MSRB regulation.5
The Board’s technology fee rebate
decision and analysis of reserve levels
prompted it in 2015 to conduct a
holistic review of fees from dealer
assessments, municipal advisors and
other sources to determine whether
further changes to the funding structure
were warranted. The Board evaluated
the assessment of MSRB fees on
regulated entities with the goal of better
aligning revenue sources with operating
expenses and all capital needs. The
Board strives to diversify funding
sources among regulated entities and
other entities that fund MSRB
operations in a manner that ensures
long-term sustainability, while
continuing to strike an equitable balance
in fees among regulated entities and a
fair allocation of the cost of operating
and administering the MSRB, including
regulatory activities, systems
development and operational activities.
The Board, as it has historically,
assesses such reasonable fees and
charges as may be necessary or
appropriate to defray the costs and
expenses of operating and administering
the Board.
3 See Release No. 34–83713 (Jul. 26, 2018), 83 FR
37538 (Aug. 1, 2018) (File No. SR–MSRB–2018–06).
4 See Release No. 34–63621 (Dec. 29, 2010), 76 FR
604 (Jan. 5, 2011) (File No. SR–MSRB–2010–10).
5 See Release No. 34–72019 (Apr. 25, 2014), 79 FR
24798 (May 1, 2014) (File No. SR–MSRB–2014–03).
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Agencies
[Federal Register Volume 84, Number 60 (Thursday, March 28, 2019)]
[Notices]
[Pages 11840-11841]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-05910]
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NATIONAL SCIENCE FOUNDATION
Advisory Committee for Mathematical and Physical Sciences; Notice
of Meeting
In accordance with the Federal Advisory Committee Act (Pub. L. 92-
463, as amended), the National Science Foundation (NSF) announces the
following meeting:
Name and Committee Code: Advisory Committee for Mathematical and
Physical Sciences (#66).
Date and Time: May 2, 2019; 8:30 a.m. to 4:00 p.m. May 3, 2019;
8:30 a.m. to 12:30 p.m.
Place: NSF, 2415 Eisenhower Avenue, Alexandria, VA 22314.
Type of Meeting: Open.
Contact Person: Nad[egrave]ge Aoki, National Science Foundation,
2415 Eisenhower Avenue, Room C 9015B, Alexandria, Virginia 22314;
Telephone: 703/292-4934.
Purpose of Meeting: To provide advice, recommendations and counsel
on major goals and policies pertaining to MPS programs and activities.
Agenda
Thursday, May 2, 2019; 8:30 a.m. to 4:00 p.m.
Presentation: Update on MPS Activities from Assistant Director
Anne Kinney
Presentation and Discussion: Joined session with OPP AC
Presentation and Discussion: OLPA
Presentation and Discussion: Update on Materials Decadal
Survey and Spectrum Management
Discussion with NSF COO
Friday, May 3, 2019; 8:30 a.m. to 12:30 p.m.
Presentation and Discussion: Update on Quantum Leap Big Idea
Presentation and Discussion: Synthetic Biology
Discussion of MPS AC
[[Page 11841]]
Dated: March 22, 2019.
Crystal Robinson,
Committee Management Officer.
[FR Doc. 2019-05910 Filed 3-27-19; 8:45 am]
BILLING CODE 7555-01-P