74766 Federal Register / Vol. 75, No. 230 / Wednesday, December 1, 2010 / Notices 

51CAI. 

52See letter to Elizabeth M. Murphy, Secretary, 

U.S. Securities and Exchange Commission, from 

Adam H. Arkel, Assistant General Counsel, FINRA, 

dated April 14, 2009. See also Partial Amendment 

No. 2 to SR–FINRA–2008–067 (June 30, 2009). 

53 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3 17 CFR 240.19b–4(f)(6). 

4See Exchange Act Release No. 62434 (July 1, 

2010; 75 FR 39603 (July 9, 2010); SR–FINRA–2009– 

089 (Order Approving Proposed FINRA Rule 6490 

(Processing of Company-Related Actions) to Clarify 

the Scope of FINRA’s Authority When Processing 

Documents Related to Announcements for 

Company-Related Actions for Non-Exchange Listed 

Securities and To Implement Fees for Such 

Services). 

5 17 CFR 240.10b–17. 

FINRA–2008–067.51 Because FINRA has 

already responded to the commenter’s 

concerns in a separate letter that is 

available on the SEC Web site,52 FINRA 

will not re-address them in connection 

with this filing. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Within 45 days of the date of 

publication of this notice in the Federal 

Register or within such longer period (i) 

as the Commission may designate up to 

90 days of such date if it finds such 

longer period to be appropriate and 

publishes its reasons for so finding or 

(ii) as to which the self-regulatory 

organization consents, the Commission 

will: 

(A) By order approve or disapprove 

such proposed rule change, or 

(B) Institute proceedings to determine 

whether the proposed rule change 

should be 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 e-mail to rulecomments@sec.gov. Please include File 

Number SR–FINRA–2010–061 on the 

subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Elizabeth M. Murphy, Secretary, 

Securities and Exchange Commission, 

100 F Street, NE., Washington, DC 

20549–1090. 

All submissions should refer to File 

Number SR–FINRA–2010–061. This file 

number should be included on the 

subject line if e-mail 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 

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 website 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 a.m. and 3 p.m. Copies of such filing 

also will be available for inspection and 

copying at the principal office of 

FINRA. 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–FINRA–2010–061 

and should be submitted on or before 

December 22, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.53

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2010–30229 Filed 11–30–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63373; File No. SR–FINRA 

2010–057] 

Self-Regulatory Organizations; 

Financial Industry Regulatory 

Authority, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change to Permit a One-Time 

Waiver of Late Fees Assessable 

Pursuant to FINRA Rule 6490 

November 24, 2010. 

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 November 

12, 2010, Financial Industry Regulatory 

Authority, Inc. (‘‘FINRA’’) filed with the 

Securities and Exchange Commission 

(the ‘‘Commission’’) the proposed rule 

change as described in Items I and II 

below, which Items have been prepared 

by FINRA. FINRA has designated the 

proposed rule change as constituting a 

‘‘non-controversial’’ rule change under 

paragraph (f)(6) of Rule 19b–4 under the 

Act.3 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 Substance of 

the Proposed Rule Change 

FINRA is filing the proposed rule 

change to grant a one-time waiver of 

certain late fees under FINRA Rule 

6490. The proposed rule change would 

not make any changes to the text of 

FINRA Rule 6490. 

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 

self-regulatory organization 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 those statements may be examined at 

the places specified in Item IV below. 

FINRA has prepared summaries, set 

forth in sections A, B, and C below, of 

the most significant parts of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

On September 27, 2010, FINRA Rule 

6490 (Processing of Company-Related 

Actions) (the ‘‘Rule’’) became effective.4

The Rule codifies in the FINRA 

rulebook a requirement that exists under 

Rule 10b–17 of the Act.5 Specifically, 

Rule 10b–17 of the Act requires that 

issuers of a class of publicly traded 

securities provide timely notice to 

FINRA of certain corporate actions 

(‘‘Company-Related Action Notice’’) 

including, among other things, notice of 

dividends or other distributions of cash 

or securities, stock splits or reverse 

splits or rights or subscription offerings. 

The Rule clarifies the scope of FINRA’s 

regulatory authority and discretionary 

power when processing documents 

related to announcements of companyrelated actions for non-exchange-listed 

equity and debt securities, and 

implements fees for these services. 

Issuers must complete the necessary 

forms and pay the applicable fees 


jlentini on DSKJ8SOYB1PROD with NOTICES
Federal Register / Vol. 75, No. 230 / Wednesday, December 1, 2010 / Notices 74767 

6This one-time waiver will apply to the first late 

submission by an issuer for one (or more) class of 

securities on a single day during the waiver period. 

For example, if an issuer submits a late CompanyRelated Action Notice with respect to three separate 

classes of securities on a single day during the 

waiver period, the late fee will be waived for each 

class. However, if an issuer has already received a 

waiver with respect to one or more classes of 

securities during the waiver period and, on a 

different day during the waiver period, submits a 

late Company-Related Action Notice with respect to 

any class of its securities, another waiver will not 

be granted. 

7FINRA notes that the rule filing proposing the 

adoption of FINRA Rule 6490 was published in the 

Federal Register for notice and comment. See supra 

note 4. Following Commission approval, FINRA 

published Regulatory Notice 10–038 announcing 

approval of Rule 6490 and the September 27, 2010 

effective date. In addition, FINRA engaged in 

extensive outreach regarding the new Rule, 

including by sending out letters to numerous 

industry groups involved in issuer corporate 

actions, sending out alerts via electronic platforms 

used by market participants, and holding 

conference calls with relevant parties. FINRA 

expects that the percentage of late notifications will 

decline over time. 

8 15 U.S.C. 78o–3(b)(5). 

9 15 U.S.C. 78s(b)(3)(A). 

10 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6)(iii) requires the self-regulatory organization 

to submit to the Commission written notice of its 

intent to file the proposed rule change, along with 

a brief description and text of the proposed rule 

change, at least five business days prior to the date 

of filing of the proposed rule change, or such 

shorter time as designated by the Commission. 

FINRA has satisfied this requirement. 

11For purposes only of waiving the 30-day 

operative delay, the Commission has considered the 

proposed rule’s impact on efficiency, competition, 

and capital formation. See 15 U.S.C. 78c(f). 

within the required time periods or they 

will be subject to late fees and delayed 

processing of documents to announce 

corporate actions. 

FINRA is filing the proposed rule 

change to grant a one-time waiver of 

certain late fees under FINRA Rule 

6490. Specifically, between September 

27, 2010 and December 31, 2010 (‘‘the 

waiver period’’), the first late CompanyRelated Action Notice submitted by an 

issuer to FINRA will not be subject to 

the Rule’s late fees.6 Instead, the issuer 

will be charged $200 (the timely 

submission fee) per Company-Related 

Action Notice filed with FINRA. 

Notwithstanding the significant 

industry outreach undertaken by FINRA 

in advance of implementation of the 

new rule, some issuers (who are not 

FINRA members) have reported to 

FINRA that they were not aware that 

Rule 6490 became effective on 

September 27, 2010.7 However, FINRA 

notes that issuers are obligated directly 

by Rule 10b–17 of the Act to provide 

FINRA with notice of certain companyrelated actions and are obligated under 

that rule to do so in a timely fashion. 

Nonetheless, FINRA has determined to 

provide issuers with the proposed onetime waiver of late fees in the instant 

case. FINRA expects to notify an issuer 

that submits a late Company-Related 

Action Notice that its submission is late 

and that it has received a one-time 

waiver of applicable late fees pursuant 

to Rule 6490. 

FINRA has filed the proposed rule 

change for immediate effectiveness and 

has requested that the SEC waive the 

requirement that the proposed rule 

change not become operative for 30 days 

after the date of the filing, so that FINRA 

can implement the proposed rule 

change immediately. 

2. Statutory Basis 

FINRA believes that the proposed rule 

change is consistent with the provisions 

of Section 15A(b)(5) of the Act,8 which 

requires, among other things, that 

FINRA rules provide for the equitable 

allocation of reasonable dues, fees and 

other charges among members and 

issuers and other persons using any 

facility or system that FINRA operates 

or controls. FINRA believes that the 

proposed rule change granting issuers a 

one-time waiver of Company-Related 

Action Notice late fees under FINRA 

Rule 6490 promotes fairness by 

providing issuers an additional 

opportunity to understand their 

obligations under Rule 6490, while 

preserving the deterrent effect intended 

by adoption of the late fees generally. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

FINRA does not believe that the 

proposed rule change will result in any 

burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

Written comments were neither 

solicited nor received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing proposed rule 

change does not significantly affect the 

protection of investors or the public 

interest, does not impose any significant 

burden on competition, and, by its 

terms, does not become operative for 30 

days from the date on which it was 

filed, or such shorter time as the 

Commission may designate, it has 

become effective pursuant to Section 

19(b)(3)(A) of the Act 9 and Rule 19b– 

4(f)(6) thereunder.10

FINRA has requested that the 

Commission waive the 30-day operative 

delay because the proposed rule change 

establishes a one-time waiver of certain 

late fees under FINRA Rule 6490 and 

waiver of the 30 days would allow 

FINRA to apply the fee waiver 

immediately. The Commission believes 

that waiver of the operative delay is 

consistent with the protection of 

investors and the public interest 

because the proposal would promote 

fairness by providing issuers an 

additional opportunity during the 

waiver period to understand their 

obligations under Rule 6490 before 

being subject to late fees. Therefore, the 

Commission designates the proposal 

operative upon filing.11

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 necessary or appropriate in the 

public interest, for the protection of 

investors, or otherwise in furtherance of 

the purposes of the Act. 

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 e-mail to rulecomments@sec.gov. Please include File 

Number SR–FINRA–2010–057 on the 

subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Elizabeth M. Murphy, Secretary, 

Securities and Exchange Commission, 

100 F Street, NE., Washington, DC 

20549–1090. 

All submissions should refer to File 

Number SR–FINRA–2010–057. This file 

number should be included on the 

subject line if e-mail 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 


jlentini on DSKJ8SOYB1PROD with NOTICES
74768 Federal Register / Vol. 75, No. 230 / Wednesday, December 1, 2010 / Notices 

12 17 CFR 200.30–3(a)(12). 

1According to MTR, there are no mileposts for 

the existing 0.3 mile industrial spur. 

2On November 17, 2010, MTR filed an 

amendment to correct references in its notice of 

exemption to MTR’s reporting marks and 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 a.m. and 3 p.m. Copies of the filing 

also will be available for inspection and 

copying at the principal office of 

FINRA. 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–FINRA–2010–057 and 

should be submitted on or before 

December 22, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.12

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2010–30228 Filed 11–30–10; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF STATE 

[Public Notice: 7253] 

Culturally Significant Objects Imported 

for Exhibition Determinations: 

‘‘Norwegian Painters’’ 

SUMMARY: Notice is hereby given of the 

following determinations: Pursuant to 

the authority vested in me by the Act of 

October 19, 1965 (79 Stat. 985; 22 U.S.C. 

2459), Executive Order 12047 of March 

27, 1978, the Foreign Affairs Reform and 

Restructuring Act of 1998 (112 Stat. 

2681, et seq.; 22 U.S.C. 6501 note, et 

seq.), Delegation of Authority No. 234 of 

October 1, 1999, and Delegation of 

Authority No. 236–3 of August 28, 2000, 

I hereby determine that the objects to be 

included in the exhibition ‘‘Norwegian 

Painters,’’ imported from abroad for 

temporary exhibition within the United 

States, are of cultural significance. The 

objects are imported pursuant to loan 

agreements with the foreign owners or 

custodians. I also determine that the 

exhibition or display of the exhibit 

objects at the Metropolitan Museum of 

Art, New York, New York, from on or 

about December 15, 2010, until on or 

about December 15, 2012, and at 

possible additional exhibitions or 

venues yet to be determined, is in the 

national interest. I have ordered that 

Public Notice of these Determinations 

be published in the Federal Register. 

FOR FURTHER INFORMATION CONTACT: For 

further information, including a list of 

the exhibit objects, contact Paul W. 

Manning, Attorney-Adviser, Office of 

the Legal Adviser, U.S. Department of 

State (telephone: 202–632–6469). The 

mailing address is U.S. Department of 

State, SA–5, L/PD, Fifth Floor (Suite 

5H03), Washington, DC 20522–0505. 

Dated: November 22, 2010. 

Ann Stock, 

Assistant Secretary, Bureau of Educational 

and Cultural Affairs, Department of State. 

[FR Doc. 2010–30118 Filed 11–30–10; 8:45 am] 

BILLING CODE 4710–05–P 

DEPARTMENT OF TRANSPORTATION 

Federal Highway Administration 

Rescinding the Notice of Intent for an 

Environmental Impact Statement (EIS): 

Washington and Bolivar Counties, 

Mississippi Division 

AGENCY: Federal Highway 

Administration (FHWA), DOT. 

ACTION: Rescind Notice of Intent to 

prepare an EIS. 

SUMMARY: This notice rescinds the 

Notice of Intent for preparing an 

Environmental Impact Statement (EIS) 

for proposed highway to provide a 

connection between U.S. Highway 82 

Bypass and Interstate 69 in Washington 

and Bolivar Counties, Mississippi, is 

terminated. The original Notice of Intent 

for this EIS process was published in 

the Federal Register on November 29, 

2005. 

FOR FURTHER INFORMATION CONTACT: 

Claiborne Barnwell, Project 

Development Team Leader, Federal 

Highway Administration, Mississippi 

Division, 100 West Capitol Street, Suite 

1026, Jackson, Mississippi 39269, 

Telephone: (601) 965–4217. 

SUPPLEMENTARY INFORMATION: 

Background 

The Federal Highway Administration 

(FHWA) in cooperation with the 

Mississippi Department of 

Transportation (MDOT) initiated an 

Environmental Impact Statement (EIS) 

with a Notice of Intent November 29, 

2005, to provide a connector road, to be 

built to interstate standards, between 

the U.S. Highway 82 Bypass in 

Greenville and Interstate 69 near Benoit. 

Due to funding constraints this Notice 

of Intent is rescinded. 

Andrew H. Hughes, 

Division Administrator, Mississippi, Federal 

Highway Administration, Jackson, 

Mississippi. 

[FR Doc. 2010–30024 Filed 11–30–10; 8:45 am] 

BILLING CODE M 

DEPARTMENT OF TRANSPORTATION 

Surface Transportation Board 

[Docket No. FD 35433] 

Madison Terminal Railway, LLC— 

Lease and Operation Exemption—Line 

of Railroad in Dane County, WI 

Madison Terminal Railway, LLC 

(MTR), a noncarrier, has filed a verified 

notice of exemption, under 49 CFR 

1150.31, to lease and operate an existing 

0.3-mile industrial spur owned by LN 

Real Estate, LLC, a noncarrier. The 

industrial spur originates at the 

connection with the Union Pacific 

Railroad Company’s (UP) Cottage Grove 

Industrial Lead at milepost 78.02 in 

Madison, WI, and is located entirely 

within the property of ProBuild 

Holding, LLC (ProBuild), which 

currently leases the line.1 UP’s Cottage 

Grove Industrial Lead is currently 

operated by the Wisconsin & Southern 

Railroad Company (WSOR) pursuant to 

a lease agreement authorized in 

Wisconsin & Southern Railroad—Lease 

& Operation Exemption—Union Pacific 

Railroad, FD 33139 (STB served Oct. 30, 

1996). 

MTR states that it will shortly execute 

an agreement with ProBuild to sub-lease 

the unused existing industrial spur to 

revive railroad services on the spur and 

operate as an independent common 

carrier performing transloading service 

for potential railroad freight customers 

at the proposed transload facility. MTR 

further states that it expects to enter into 

an interchange agreement with WSOR to 

provide inbound and outbound rail 

freight transportation services to MTR’s 

transload facility, but it will not operate 

on UP’s line and will confine its 

operations to its line of railroad within 

the proposed transload facility. As a 

result of the transaction, MTR states that 

it will become a Class III carrier of an 

existing industrial spur that will be 

converted to a common carrier line of 

railroad that connects with UP’s existing 

line.2


jlentini on DSKJ8SOYB1PROD with NOTICES