81 FR 15358 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Transaction Fees at Rule 7018(a)

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 55 (March 22, 2016)

Page Range		15358-15360
FR Document		2016-06338
Federal Register, Volume 81 Issue 55 (Tuesday, March 22, 2016)
[Federal Register Volume 81, Number 55 (Tuesday, March 22, 2016)]
[Notices]
[Pages 15358-15360]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-06338]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-77378; File No. SR-NASDAQ-2016-037]


Self-Regulatory Organizations; The NASDAQ Stock Market LLC; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To 
Amend Transaction Fees at Rule 7018(a)

March 16, 2016.
    Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that 
on March 7, 2016, The NASDAQ Stock Market LLC (``Nasdaq'' or 
``Exchange'') 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 
Exchange. The Commission is publishing this notice to solicit comments 
on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of the 
Substance of the Proposed Rule Change

    The Exchange proposes to amend the Exchange's transaction fees at 
Rules 7018(a)(2) and (3) to provide a new credit to members for 
displayed quotes/orders (other than Supplemental Orders or Designated 
Retail Orders) that provide liquidity in Tape A and B securities.
    The text of the proposed rule change is available on the Exchange's 
Web site at http://nasdaq.cchwallstreet.com, at the principal office of 
the Exchange, and at the Commission's Public Reference Room.

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 purpose of the proposed rule change is to amend Rule 7018(a)(2) 
and (3), concerning the fees and credits provided for the use of the 
order execution and routing services of the Nasdaq Market Center by 
members for all securities priced at $1 or more that it trades. The 
Exchange is proposing to provide a new credit to members for displayed 
quotes/orders (other than Supplemental Orders or Designated Retail 
Orders) that provide liquidity in

[[Page 15359]]

Tape \3\ A and B securities in addition to other credits provided under 
Rules 7018(a)(2) and (3) for displayed quotes/orders (other than 
Supplemental Orders or Designated Retail Orders).
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    \3\ There are three categories, or ``Tapes'' of securities, 
which are based on listing venue. Tape A securities are those that 
are listed on NYSE, Tape B securities are those that are listed on 
exchanges other than Nasdaq or NYSE, and Tape C securities are those 
that are listed on the Exchange.
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    Currently under Rules 7018(a)(2) and (3), the Exchange provides 
credits ranging from $0.0020 per share executed to $0.00305 per share 
executed to members for displayed quotes/orders (other than 
Supplemental Orders or Designated Retail Orders) if they qualify by 
meeting the requirements of the various credit tiers under the rules.
    The Exchange is proposing to provide a new $0.0001 per share 
executed credit that would be provided to members for displayed quotes/
orders (other than Supplemental Orders or Designated Retail Orders) in 
Tape A and B securities if they have shares of liquidity provided in 
all securities during the month representing at least 0.2% of 
Consolidated Volume \4\ during the month, through one or more of its 
Nasdaq Market Center MPIDs.
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    \4\ Consolidated Volume is the total consolidated volume 
reported to all consolidated transaction reporting plans by all 
exchanges and trade reporting facilities during a month in equity 
securities, excluding executed orders with a size of less than one 
round lot. For purposes of calculating Consolidated Volume and the 
extent of a member's trading activity, expressed as a percentage of 
or ratio to Consolidated Volume, the date of the annual 
reconstitution of the Russell Investments Indexes shall be excluded 
from both total Consolidated Volume and the member's trading 
activity. See Rule 7018(a).
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    As noted, this rebate will be provided in addition to other 
displayed liquidity credits that a member qualifies for under Rules 
7018(a)(2) and (3), and will also be provided in addition to any 
rebates that a member qualifies for under the ISP, NBBO, and QMM 
programs under Rule 7014. The proposed rebate, however, will not be 
additive to LMM rebates under Rule 7014 or Designated Retail Order 
credits under Rule 7018.
    The Exchange is implementing the proposed credit on March 7, 2016, 
at which time any member that qualifies will begin to receive the 
credit. The measurement period for the Consolidated Volume required to 
qualify for the new credit will initially be calculated based on such 
volume provided from March 7, 2016 through March 31, 2016, and then 
monthly thereafter. For example, a member with shares of liquidity 
provided in all securities through one or more of its Nasdaq Market 
Center MPIDs that represent more than 0.10% of Consolidated Volume 
during the month would qualify for a $0.0025 per share executed credit 
under Rule 7018(a). If the member provides 0.21% of Consolidated Volume 
from March 7, 2016 through March 31, 2016 it would qualify for the new 
$0.0001 additional per share executed credit. The member's credit for 
displayed quotes/orders (other than Supplemental Orders or Designated 
Retail Orders) in Tape A and B securities from March 1, 2016 through 
March 4, 2016 would be $0.0025 per share executed, and from March 7, 
2016 through March 31, 2016 would be $0.0026 per share executed 
($0.0025 credit + $0.0001 credit). If a member did not provide 0.2% of 
Consolidated Volume from March 7, 2016 through March 31, 2016 the 
member would not qualify for the additional $0.0001 credit. This is 
true regardless of the percent of Consolidated Volume provided for the 
whole month of March.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with section 
6(b) of the Act \5\ in general, and furthers the objectives of sections 
6(b)(4) and 6(b)(5) of the Act \6\ in particular, in that it provides 
for the equitable allocation of reasonable dues, fees and other charges 
among members and issuers and other persons using any facility or 
system which the Exchange operates or controls, and is not designed to 
permit unfair discrimination between customers, issuers, brokers, or 
dealers.
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    \5\ 15 U.S.C. 78f(b).
    \6\ 15 U.S.C. 78f(b)(4) and (5).
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    The Exchange believes that the proposed new credit is reasonable 
because it may provide incentive to members to increase the level of 
liquidity provided to the Exchange, which will in turn benefit all 
market participants. Providing credits for displayed quotes/orders 
(other than Supplemental Orders or Designated Retail Orders) rewards 
members for improving the market through displayed liquidity. As such, 
the Exchange believes that providing an additional credit for such 
liquidity is reasonable.
    The Exchange also believes that it is reasonable to limit the 
credit to only quotes/orders in Tape A and B securities because the 
Exchange has observed a decline in overall volume on the Exchange in 
Tape A and B securities in comparison to Tape C securities, and is thus 
providing incentive to members to provide displayed liquidity in Tape A 
and B securities.
    Further, the Exchange has limited funds with which to apply in the 
form of incentives, and thus must deploy those limited funds to 
incentives that it believes will be the most effective and improve 
market quality in areas that the Exchange determines are in need of 
improvement. The Exchange believes that the proposed increased credit 
is an equitable allocation and is not unfairly discriminatory because 
the Exchange will provide the credit to all members that qualify for it 
under the rule.

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will 
impose any burden on competition not necessary or appropriate in 
furtherance of the purposes of the Act. In terms of inter-market 
competition, the Exchange notes that it operates in a highly 
competitive market in which market participants can readily favor 
competing venues if they deem fee levels at a particular venue to be 
excessive, or rebate opportunities available at other venues to be more 
favorable. In such an environment, the Exchange must continually adjust 
its fees to remain competitive with other exchanges and with 
alternative trading systems that have been exempted from compliance 
with the statutory standards applicable to exchanges. Because 
competitors are free to modify their own fees in response, and because 
market participants may readily adjust their order routing practices, 
the Exchange believes that the degree to which fee changes in this 
market may impose any burden on competition is extremely limited.
    In this instance, the proposed new credit for displayed liquidity 
in Tape A and B securities is reflective of robust competition among 
exchanges and other trading venues and does not place any burden on 
competition whatsoever. The credit is designed to provide additional 
incentive to members to enter displayed quotes and orders in Tape A and 
B securities traded on the Exchange, which are most in need of 
improvement. To the extent the incentive is successful; it will benefit 
all market participants trading in such securities on the Exchange.
    Last, although the Exchange does not believe the proposed changes 
will be unattractive to market participants, if the changes were 
unattractive then it is likely that the Exchange would lose market 
share as a result. Accordingly, the Exchange does not believe that the 
proposed changes will impair the ability of members or competing order 
execution venues to maintain their competitive standing in the 
financial markets.

[[Page 15360]]

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    No written comments were either solicited or received.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The foregoing rule change has become effective pursuant to section 
19(b)(3)(A)(ii) of the Act.\7\
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    \7\ 15 U.S.C. 78s(b)(3)(A)(ii).
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    At any time within 60 days of the filing of the proposed rule 
change, the Commission summarily may temporarily suspend such rule 
change if it appears to the Commission that such action is: (i) 
Necessary or appropriate in the public interest; (ii) for the 
protection of investors; or (iii) otherwise in furtherance of the 
purposes of the Act. If the Commission takes such action, the 
Commission shall institute proceedings to determine whether the 
proposed rule should be approved or disapproved.

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposed rule 
change is consistent with the Act. Comments may be submitted by any of 
the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include 
File Number SR-NASDAQ-2016-037 on the subject line.

Paper Comments

     Send paper comments in triplicate to Secretary, Securities 
and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090.

All submissions should refer to File Number SR-NASDAQ-2016-037. This 
file number should be included on the subject line if email is used. To 
help the Commission process and review your comments more efficiently, 
please use only one method. The Commission will post all comments on 
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all 
written statements with respect to the proposed rule change that are 
filed with the Commission, and all written communications relating to 
the proposed rule change between the Commission and any person, other 
than those that may be withheld from the public in accordance with the 
provisions of 5 U.S.C. 552, will be available for Web site viewing and 
printing in the Commission's Public Reference Room, 100 F Street NE., 
Washington, DC 20549 on official business days between the hours of 
10:00 a.m. and 3:00 p.m. Copies of such filing also will be available 
for inspection and copying at the principal offices of the Exchange. 
All comments received will be posted without change; the Commission 
does not edit personal identifying information from submissions. You 
should submit only information that you wish to make available 
publicly. All submissions should refer to File Number SR-NASDAQ-2016-
037, and should be submitted on or before April 12, 2016.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
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    \8\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
 [FR Doc. 2016-06338 Filed 3-21-16; 8:45 am]
 BILLING CODE 8011-01-P
15358 Federal Register / Vol. 81, No. 55 / Tuesday, March 22, 2016 / Notices

registration under the U.S. securities These burden hour estimates are (‘‘Act’’),1 and Rule 19b–4 thereunder,2
laws, and also to disclose prominently based upon the Commission staff’s notice is hereby given that on March 7,
that the fund that issued the securities experience and discussions with the 2016, The NASDAQ Stock Market LLC
is not registered with the Commission. fund industry. The estimates of average (‘‘Nasdaq’’ or ‘‘Exchange’’) filed with the
The burden under the rule associated burden hours are made solely for the Securities and Exchange Commission
with adding this disclosure to written purposes of the Paperwork Reduction (‘‘SEC’’ or ‘‘Commission’’) the proposed
offering documents is minimal and is Act. These estimates are not derived rule change as described in Items I, II,
non-recurring. The foreign issuer, from a comprehensive or even a and III, below, which Items have been
underwriter, or broker-dealer can redraft representative survey or study of the prepared by the Exchange. The
an existing prospectus or other written costs of Commission rules. Commission is publishing this notice to
offering material to add this disclosure Compliance with the collection of solicit comments on the proposed rule
statement, or may draft a sticker or information requirements of the rule is change from interested persons.
supplement containing this disclosure mandatory and is necessary to comply I. Self-Regulatory Organization’s
to be added to existing offering with the requirements of the rule in Statement of the Terms of the Substance
materials. In either case, based on general. An agency may not conduct or of the Proposed Rule Change
discussions with representatives of the sponsor, and a person is not required to
Canadian fund industry, the staff respond to a collection of information The Exchange proposes to amend the
estimates that it would take an average unless it displays a currently valid Exchange’s transaction fees at Rules
of 10 minutes per document to draft the control number. 7018(a)(2) and (3) to provide a new
requisite disclosure statement. credit to members for displayed quotes/
Written comments are invited on: (a)
orders (other than Supplemental Orders
The staff estimates that there are 3,164 Whether the collection of information is
or Designated Retail Orders) that
publicly offered Canadian funds that necessary for the proper performance of
provide liquidity in Tape A and B
potentially would rely on the rule to the functions of the Commission,
securities.
offer securities to participants and sell including whether the information has
The text of the proposed rule change
securities to their Canadian retirement practical utility; (b) the accuracy of the
is available on the Exchange’s Web site
accounts without registering under the Commission’s estimate of the burdens of
at http://nasdaq.cchwallstreet.com, at
Investment Company Act.5 The staff the collection of information; (c) ways to
the principal office of the Exchange, and
estimates that all of these funds have enhance the quality, utility, and clarity
at the Commission’s Public Reference
previously relied upon the rule and of the information collected; and (d)
Room.
have already made the one-time change ways to minimize the burdens of the
to their offering documents required to collection of information on II. Self-Regulatory Organization’s
rely on the rule. The staff estimates that respondents, including through the use Statement of the Purpose of, and
158 (5 percent) additional Canadian of automated collection techniques or Statutory Basis for, the Proposed Rule
funds would newly rely on the rule each other forms of information technology. Change
year to offer securities to Canadian-U.S. Consideration will be given to In its filing with the Commission, the
Participants and sell securities to their comments and suggestions submitted in Exchange included statements
Canadian retirement accounts, thus writing within 60 days of this concerning the purpose of and basis for
incurring the paperwork burden publication. the proposed rule change and discussed
required under the rule. The staff Please direct your written comments any comments it received on the
estimates that each of those funds, on to Pamela Dyson, Chief Information proposed rule change. The text of these
average, distributes 3 different written Officer, Securities and Exchange statements may be examined at the
offering documents concerning those Commission, C/O Remi Pavlik-Simon, places specified in Item IV below. The
securities, for a total of 474 offering 100 F St. NE., Washington, DC 20549; or Exchange has prepared summaries, set
documents. The staff therefore estimates send an email to: PRA_Mailbox@ forth in sections A, B, and C below, of
that 158 respondents would make 474 sec.gov. the most significant aspects of such
responses by adding the new disclosure statements.
Dated: March 17, 2016.
statement to 474 written offering
documents. The staff therefore estimates Robert W. Errett, A. Self-Regulatory Organization’s
that the annual burden associated with Deputy Secretary. Statement of the Purpose of, and
the rule 7d–2 disclosure requirement [FR Doc. 2016–06412 Filed 3–21–16; 8:45 am] Statutory Basis for, the Proposed Rule
would be 79 hours (474 offering BILLING CODE 8011–01–P Change
documents × 10 minutes per document). 1. Purpose
The total annual cost of these burden
hours is estimated to be $30,020 (79 SECURITIES AND EXCHANGE The purpose of the proposed rule
hours × $380 per hour of attorney COMMISSION change is to amend Rule 7018(a)(2) and
time).6 (3), concerning the fees and credits
[Release No. 34–77378; File No. SR– provided for the use of the order
5 Investment Company Institute, 2015 Investment NASDAQ–2016–037] execution and routing services of the
Company Fact Book (2015) at 238, tbl. 66. Nasdaq Market Center by members for
Self-Regulatory Organizations; The all securities priced at $1 or more that
asabaliauskas on DSK3SPTVN1PROD with NOTICES

6 The Commission’s estimate concerning the wage

rate for attorney time is based on salary information NASDAQ Stock Market LLC; Notice of it trades. The Exchange is proposing to
for the securities industry compiled by the Filing and Immediate Effectiveness of
Securities Industry and Financial Markets
provide a new credit to members for
Association (‘‘SIFMA’’). The $380 per hour figure Proposed Rule Change To Amend displayed quotes/orders (other than
for an attorney is from SIFMA’s Management & Transaction Fees at Rule 7018(a) Supplemental Orders or Designated
Professional Earnings in the Securities Industry Retail Orders) that provide liquidity in
2013, modified by Commission staff to account for March 16, 2016.
an 1800-hour work-year and multiplied by 5.35 to
account for bonuses, firm size, employee benefits,
Pursuant to section 19(b)(1) of the 1 15 U.S.C. 78s(b)(1).
and overhead. Securities Exchange Act of 1934 2 17 CFR 240.19b–4.

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15360 Federal Register / Vol. 81, No. 55 / Tuesday, March 22, 2016 / Notices

C. Self-Regulatory Organization’s Commission and any person, other than Opinion; and
Statement on Comments on the those that may be withheld from the Other matters relating to enforcement
Proposed Rule Change Received From public in accordance with the proceedings.
Members, Participants, or Others provisions of 5 U.S.C. 552, will be At times, changes in Commission
No written comments were either available for Web site viewing and priorities require alterations in the
solicited or received. printing in the Commission’s Public scheduling of meeting items.
Reference Room, 100 F Street NE., For further information and to
III. Date of Effectiveness of the Washington, DC 20549 on official ascertain what, if any, matters have been
Proposed Rule Change and Timing for business days between the hours of added, deleted or postponed, please
Commission Action 10:00 a.m. and 3:00 p.m. Copies of such contact the Office of the Secretary at
The foregoing rule change has become filing also will be available for (202) 551–5400.
effective pursuant to section inspection and copying at the principal Dated: March 17, 2016.
19(b)(3)(A)(ii) of the Act.7 offices of the Exchange. All comments
Brent J. Fields,
At any time within 60 days of the received will be posted without change;
filing of the proposed rule change, the Secretary.
the Commission does not edit personal
Commission summarily may identifying information from [FR Doc. 2016–06516 Filed 3–18–16; 11:15 am]
temporarily suspend such rule change if submissions. You should submit only BILLING CODE 8011–01–P
it appears to the Commission that such information that you wish to make
action is: (i) Necessary or appropriate in available publicly. All submissions
the public interest; (ii) for the protection should refer to File Number SR– SECURITIES AND EXCHANGE
of investors; or (iii) otherwise in NASDAQ–2016–037, and should be COMMISSION
furtherance of the purposes of the Act. submitted on or before April 12, 2016. [Release No. IC–32030; File No. 812–14586]
If the Commission takes such action, the For the Commission, by the Division of
Commission shall institute proceedings Trading and Markets, pursuant to delegated Principal Life Insurance Company, et
to determine whether the proposed rule authority.8 al., Notice of Application
should be approved or disapproved. Robert W. Errett, March 17, 2016.
IV. Solicitation of Comments Deputy Secretary. AGENCY: Securities and Exchange
Interested persons are invited to [FR Doc. 2016–06338 Filed 3–21–16; 8:45 am] Commission (‘‘Commission’’).
submit written data, views, and BILLING CODE 8011–01–P ACTION: Notice of application for an
arguments concerning the foregoing, order approving the substitution of
including whether the proposed rule certain securities pursuant to Section
change is consistent with the Act. SECURITIES AND EXCHANGE 26(c) of the Investment Company Act of
Comments may be submitted by any of COMMISSION 1940 (the ‘‘Act’’).
the following methods:
Sunshine Act Meeting Applicants: Principal Life Insurance
Electronic Comments Company (‘‘PLIC’’), Principal National
Notice is hereby given, pursuant to
• Use the Commission’s Internet the provisions of the Government in the Life Insurance Company (‘‘PNL’’) (PLIC
comment form (http://www.sec.gov/ Sunshine Act, Public Law 94–409, that and PNL are each an ‘‘Insurance
rules/sro.shtml); or the Securities and Exchange Company’’ and together, the ‘‘Insurance
• Send an email to rule- Commission will hold a Closed Meeting Companies’’), Principal Life Insurance
comments@sec.gov. Please include File on Thursday, March 24, 2016 at 2:00 Company Variable Life Separate
Number SR–NASDAQ–2016–037 on the p.m. Account (‘‘PLIC Variable Life Separate
subject line. Commissioners, Counsel to the Account’’), and Principal National Life
Commissioners, the Secretary to the Insurance Company Variable Life
Paper Comments
Commission, and recording secretaries Separate Account (‘‘PNL Variable Life
• Send paper comments in triplicate will attend the Closed Meeting. Certain Separate Account’’) (PLIC Variable Life
to Secretary, Securities and Exchange staff members who have an interest in Separate Account and PNL Variable Life
Commission, 100 F Street NE., the matters also may be present. Separate Account are each a ‘‘Separate
Washington, DC 20549–1090. The General Counsel of the Account’’ and together, the ‘‘Separate
All submissions should refer to File Commission, or her designee, has Accounts’’).
Number SR–NASDAQ–2016–037. This certified that, in her opinion, one or Summary of Application: Applicants
file number should be included on the more of the exemptions set forth in 5 seek an order pursuant to Section 26(c)
subject line if email is used. To help the U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) of the Act approving the substitution of
Commission process and review your and 17 CFR 200.402(a)(3), (5), (7), 9(ii) shares of Fidelity Variable Insurance
comments more efficiently, please use and (10), permit consideration of the Products Fund V Government Money
only one method. The Commission will scheduled matter at the Closed Meeting. Market Portfolio (the ‘‘Replacement
post all comments on the Commission’s Chair White, as duty officer, voted to Fund’’) for shares of Principal Variable
Internet Web site (http://www.sec.gov/ consider the items listed for the Closed Contracts Funds, Inc. Money Market
rules/sro.shtml). Copies of the Meeting in closed session. Account (the ‘‘Existing Fund’’) held by
submission, all subsequent the Separate Accounts to support
asabaliauskas on DSK3SPTVN1PROD with NOTICES

The subject matter of the Closed
amendments, all written statements Meeting will be: variable life insurance contracts (each, a
with respect to the proposed rule Institution and settlement of injunctive ‘‘Contract’’ and collectively, the
change that are filed with the actions; ‘‘Contracts’’) issued by the Insurance
Commission, and all written Institution and settlement of Companies.
communications relating to the administrative proceedings; Filing Dates: The application was
proposed rule change between the Post Argument Discussion; filed on December 9, 2015, and
amended on February 29, 2016, March
7 15 U.S.C. 78s(b)(3)(A)(ii). 8 17 CFR 200.30–3(a)(12). 8, 2016, and March 14, 2016.

VerDate Sep<11>2014 17:34 Mar 21, 2016 Jkt 238001 PO 00000 Frm 00141 Fmt 4703 Sfmt 4703 E:\FR\FM\22MRN1.SGM 22MRN1
Document Created: 2018-02-02 15:15:48
Document Modified: 2018-02-02 15:15:48
Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
FR Citation		81 FR 15358