Federal Register / Vol. 76, No. 218 / Thursday, November 10, 2011 / Notices 70209 

8 In approving the proposed rule change, the 

Commission notes that it has considered the 

proposed rule’s impact on efficiency, competition 

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

9 15 U.S.C. 78s(b)(2). 

10 17 CFR 200.30–3(a)(12). 

perform other municipal securities 

activities in a competent manner, so no 

delay in the effective date of the Rule G– 

3 changes is appropriate. 

The Commission has carefully 

considered the commenter’s concerns 

about the MSRB’s proposed changes to 

the licensing requirements for 

associated persons of brokers, dealers or 

municipal securities dealers for 

municipal securities activities other 

than sales to customers, the scope of the 

‘‘grandfather’’ provisions, and the 

effective date of the proposed rule 

change, and does not believe the 

proposed changes are inconsistent with 

the Exchange Act. 

IV. Discussion and Commission 

Findings 

The Commission has carefully 

considered the proposed rule change, 

the comment letter received, and the 

MSRB’s response to the comment letter 

and finds that the proposed rule change 

is consistent with the requirements of 

the Exchange Act and the rules and 

regulations thereunder applicable to the 

MSRB.8 The Commission believes that 

the proposed rule change is consistent 

with the provisions of Section 

15B(b)(2)(A) of the Exchange Act, which 

authorizes the MSRB to prescribe 

‘‘standards of training, experience, 

competence, and such other 

qualifications as the Board finds 

necessary or appropriate in the public 

interest or for the protection of investors 

and municipal entities or obligated 

persons.’’ Section 15B(b)(2)(A) of the 

Exchange Act also provides that the 

Board may appropriately classify 

municipal securities brokers, municipal 

securities dealers, and municipal 

advisors and persons associated with 

municipal securities brokers, municipal 

securities dealers, and municipal 

advisors and require persons in any 

such class to pass tests prescribed by the 

Board. 

The proposed rule change is also 

consistent with the provisions of 

Section 15B(b)(2)(A) of the Exchange 

Act in that the proposed rule change 

will ensure that individuals seeking to 

engage in more than sales activities will 

be tested on their qualification and 

competency to engage in such other 

municipal securities activities. These 

individuals will be required to pass an 

examination that includes questions 

both on municipal securities and the 

municipal markets and on U.S. 

government, Federal agency and other 

financial instruments, economic 

activity, government policy, factors 

affecting interest rates, and applicable 

Federal securities laws and regulations. 

The proposed rule change will also 

more closely align the information 

dealers are required to obtain pursuant 

to Rule G–7 with the information 

already required by FINRA and the bank 

regulators, thereby reducing the 

administrative burden on such dealers. 

V. Conclusion 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Exchange Act,9

that the proposed rule change (SR– 

MSRB–2011–17) be, and it hereby is, 

approved. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2011–29104 Filed 11–9–11; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF STATE 

[Delegation of Authority: 304–1] 

Delegation by the Secretary of State to 

the Under Secretary of State for Arms 

Control and International Security of 

Authority To Submit Certain NonProliferation Reports to Congress 

By virtue of the authority vested in 

me as the Secretary of State, including 

Section 1 of the State Department Basic 

Authorities Act, as amended (22 U.S.C. 

2651a), the authorities enumerated 

below, and Executive Order 13346, I 

hereby delegate to the Under Secretary 

for Arms Control and International 

Security, to the extent authorized by 

law, the authority to approve 

submission of reports to Congress 

pursuant to: 

(1) Section 1344 of the Foreign 

Relations Authorization Act, Fiscal Year 

2003, Public Law 207–228; 

(2) Section 2809(c)(2) of the Foreign 

Affairs Reform and Restructuring Act of 

1998, Public Law 105–277; 

(3) Section 1343(a) of the Iran Nuclear 

Proliferation Prevent Act of 2002 

(incorporated in the Foreign Relations 

Authorization Act, Fiscal Year 2003), 

Public Law 107–228; 

(4) Section 204(c) of the International 

Emergency Economic Powers Act 

(50 U.S.C. 1701 et seq.) and Section 

401(c) of the National Emergencies Act 

(50 U.S.C. 1601 et seq.); 

(5) Section 1308(a) of the Foreign 

Relations Authorization Act for FY 

2003, Public Law 107–228; 

(6) Determination and Congressional 

Reporting Requirement Concerning 

Israeli Participation in the IAEA 

required by the Foreign Operations, 

Export Financing, and Related Programs 

Appropriations Act, 2006, Title II of 

Public Law 109–102; and 

(7) Certification consistent with 

section 2(7)(C)(i) of the resolution of 

advice and consent to ratification of the 

Chemical Weapons Convention adopted 

by the Senate on April 24, 1997, with 

respect to the effectiveness and viability 

of the Australia Group. 

Any act, executive order, regulation or 

procedure subject to, or affected by this 

delegation shall be deemed to be such 

act, executive order, regulation or 

procedure, as amended from time to 

time. 

Notwithstanding this delegation of 

authority, the Secretary, the Deputy 

Secretary, or the Deputy Secretary for 

Management and Resources may at any 

time exercise any authority or function 

delegated by this delegation or 

authority. 

This Delegation of authority 

supersedes Delegation of Authority 304, 

dated February 16, 2006, and shall be 

published in the Federal Register. 

Dated: October 28, 2011. 

Hillary Rodham Clinton, 

Secretary of State. 

[FR Doc. 2011–29154 Filed 11–9–11; 8:45 am] 

BILLING CODE 4710–27–P 

DEPARTMENT OF TRANSPORTATION 

Office of the Secretary 

[Docket No. DOT–OST–2011–0129] 

Proposed Information Collection 

Request; Notice of New Requirements 

and Procedures for Grant Payment 

Request Submission 

AGENCY: Department of Transportation 

(DOT). 

ACTION: Notice with request for 

comments. 

SUMMARY: The DOT invites the public 

and other Federal agencies to comment 

on a proposed information collection 

concerning new requirements and 

procedures for grant payment request 

submission. DOT will submit the 

proposed information collection request 

to the Office of Management and Budget 

(OMB) for review, as required by the 

Paperwork Reduction Act of 1995 (PRA) 

(44 U.S.C. 3506(c)(2)(A)). This notice 

sets forth new requirements and 


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