Federal Register / Vol. 72, No. 61 / Friday, March 30, 2007 / Proposed Rules 15079 

1The Commission also proposed amendments to 

update the market decline limitation referenced in 

Regulation SHO. 

2See e.g., Comments of Keith F. Higgins, Chair, 

Committee on Federal Regulation of Securities, 

American Bar Association (September 27, 2006) 

(stating that ‘‘without the benefit of knowing the 

information relied upon by the Commission in 

analyzing the cause or causes of the current fails to 

deliver and the likelihood that the proposed 

changes will reduce those fails to deliver, 

commenters are deprived of the opportunity to 

opine on the significance of the examination results 

or the Commission’s interpretation of such 

information’’); comments of Alan Schwartz, Novato, 

California (September 19, 2006) (requesting ‘‘strong 

empirical data for the existence of problems 

***’’); comments of Margaret Wiermanski, Chief 

Operations Officer, and Matthew Abraham, 

Compliance Officer, CTC LLC (September 28, 2006) 

(stating, ‘‘What is not clear in the current Proposing 

Amendments is any research that would evidence 

the anticipated levels of additional improvements 

in eliminating fails to deliver.’’) 

3See File No. S7–12–06, Comments of the 

National Association of Securities Dealers, Inc. 

(March 12, 2007). 

4See Securities Exchange Act Release No. 50103 

(July 28, 2004), 69 FR 48008 (August 6, 2004). 

thereafter be continuously published in the 

Airport/Facility Directory. 

* * * * * 

Paragraph 6000 Class E Airspace. 

* * * * * 

ASO PR E4 Aguadilla, PR [NEW] 

Rafael Hernandez Airport, PR 

(Lat. 18°29′42′′ N, long. 67°07′46′′ W) 

Borinquen VORTAC 

(Lat. 18°29′53′′ N, long. 67°06′30′′ W) 

That airspace extending upward from the 

surface within 2.4 miles each side of the 

Borinquen VORTAC 257° radial extending 

from the 4.5 mile radius to 7 miles west of 

the VORTAC. This Class E airspace area is 

effective during the specific days and times 

established in advance by a Notice to 

Airmen. The effective days and times will 

thereafter be continuously published in the 

Airport/Facility Directory. 

* * * * * 

Issued in College Park, Georgia, on March 

21, 2007. 

Mark D. Ward, 

Group Manager, System Support Group, 

Eastern Service Center. 

[FR Doc. 07–1545 Filed 3–29–07; 8:45 am] 

BILLING CODE 4910–13–M 

SECURITIES AND EXCHANGE 

COMMISSION 

17 CFR Part 242 

[Release No. 34–55520; File No. S7–12–06] 

RIN 3235–AJ57 

Amendments to Regulation SHO 

AGENCY: Securities and Exchange 

Commission. 

ACTION: Notice of re-opening of 

comment period. 

SUMMARY: The Securities and Exchange 

Commission is re-opening the comment 

period on the ‘‘Amendments to 

Regulation SHO’’ it proposed in 

Securities Exchange Act Release No. 

54154 (July 14, 2006), 71 FR 41710 (July 

21, 2006) (the ‘‘Proposal’’). In view of 

the continuing public interest in the 

Proposal, as well as to reflect concerns 

raised by commenters, we believe that it 

is appropriate to re-open the comment 

period before we take action on the 

Proposal. 

DATES: Comments should be received on 

or before April 30, 2007. 

ADDRESSES: Comments may be 

submitted by any of the following 

methods: 

Electronic Comments 

• Use the Commission’s Internet 

comment form (http://www.sec.gov/ 

rules/proposed.shtml); or 

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

Number S7–12–06 on the subject line; 

or 

• Use the Federal eRulemaking Portal 

(http://www.regulations.gov). Follow the 

instructions for submitting comments. 

Paper Comments 

• Send paper comments in triplicate 

to Nancy M. Morris, Secretary, 

Securities and Exchange Commission, 

100 F Street, NE., Washington, DC 

20549–1090. 

All submissions should refer to File 

Number S7–12–06. This file number 

should be included on the subject line 

if e-mail is used. To help us 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/ 

proposed.shtml). Comments are also 

available for public inspection and 

copying in the Commission’s Public 

Reference Room, 100 F Street, NE., 

Washington, DC 20549–1090. All 

comments received will be posted 

without change; we do not edit personal 

identifying information from 

submissions. You should submit only 

information that you wish to make 

available publicly. 

FOR FURTHER INFORMATION CONTACT: 

James A. Brigagliano, Associate 

Director, Josephine J. Tao, Branch Chief, 

Joan M. Collopy, Special Counsel, 

Lillian S. Hagen, Special Counsel, 

Elizabeth A. Sandoe, Special Counsel, 

Victoria L. Crane, Special Counsel, 

Office of Trading Practices and 

Processing, Division of Market 

Regulation, at (202) 551–5720, at the 

Securities and Exchange Commission, 

100 F Street, NE., Washington, DC 

20549. 

SUPPLEMENTARY INFORMATION: The 

Commission is requesting additional 

public comment on proposed 

amendments to Rule 203 of Regulation 

SHO [17 CFR 242.200 and 242.203] 

under the Exchange Act. In Release No. 

54154 (July 14, 2006), 71 FR 41710 (July 

21, 2006), the Commission proposed 

amendments to Regulation SHO under 

the Securities Exchange Act of 1934 (the 

‘‘Exchange Act’’) intended to further 

reduce the number of persistent fails to 

deliver in certain equity securities by 

eliminating the grandfather provision 

and narrowing the options market 

maker exception.1 The Commission is 

re-opening the comment period, which 

ended on September 19, 2006, to 

provide additional information with 

respect to the Proposal to the public. 

Commenters have urged the 

Commission to provide additional data 

related to the Proposal before it 

determines whether additional 

rulemaking is necessary.2 In formulating 

the Proposal, the Commission relied 

primarily on data collected by the 

National Association of Securities 

Dealers, Inc. (‘‘NASD’’). NASD collected 

this data through confidential queries 

and examinations of member firms. As 

a result, the Commission did not 

provide the data underlying the 

examinations and discussions because it 

was concerned that the data contained 

confidential, company-specific 

examination findings and discussions. 

However, in response to commenters’

requests for data, the NASD submitted 

a comment letter on March 12, 2007 that 

provides the NASD’s findings in 

summary form with confidential, 

company-specific information 

removed.3

Accordingly, the Commission is reopening the comment period to 

highlight the fact that additional data 

has become available and to provide the 

public with an opportunity to comment 

on this data. In addition, in re-opening 

the comment period, the Commission 

also directs the public’s attention to 

additional data that may be of interest 

to commenters seeking information on 

the reasons why fails may be persisting 

since the adoption of Regulation SHO: 4

Æ Prior to the Commission’s Proposal, 

the New York Stock Exchange LLC (the 

‘‘NYSE’’) informed the Commission that 

it conducted a review of five securities 

with substantial aged fail positions from 

July 1, 2005 through September 23, 

2005. The NYSE found that the aged fail 

positions in these five securities were 


pwalker on PROD1PC71 with PROPOSALS
15080 Federal Register / Vol. 72, No. 61 / Friday, March 30, 2007 / Proposed Rules 

attributable to one broker-dealer. This 

broker-dealer informed the NYSE that 

the fail positions were not being closed 

out because it was relying on the 

options market maker exception. 

Æ Prior to the Commission’s Proposal, 

the Commission’s Office of Compliance 

and Inspections (‘‘OCIE’’) conducted 

some examinations for Regulation SHO 

compliance and found that some brokerdealers were still carrying a significant 

amount of fails to deliver in securities 

that they were not closing out because 

they were relying on the grandfather 

provision. One broker-dealer indicated 

that it had not closed out several 

persistent fails in threshold securities 

because it was relying on the options 

market maker exception. 

Therefore, the Commission is reopening the comment period for 

Exchange Act Release No. 54154 from 

the date of this release through April 30, 

2007. 

By the Commission. 

Dated: March 26, 2007. 

Nancy M. Morris, 

Secretary. 

[FR Doc. E7–5870 Filed 3–29–07; 8:45 am] 

BILLING CODE 8010–01–P 

DEPARTMENT OF HEALTH AND 

HUMAN SERVICES 

Food and Drug Administration 

21 CFR Parts 211, 226, 300, 500, 530, 

600, 895, and 1271 

[Docket No. 2005N–0373] 

RIN 0910–AF54 

Use of Materials Derived From Cattle in 

Medical Products Intended for Use in 

Humans and Drugs Intended for Use in 

Ruminants; Reopening of the 

Comment Period 

AGENCY: Food and Drug Administration, 

HHS. 

ACTION: Proposed rule; reopening of the 

comment period. 

SUMMARY: The Food and Drug 

Administration (FDA) is reopening until 

May 14, 2007, the comment period for 

the proposed rule published in the 

Federal Register of January 12, 2007 (72 

FR 1582). The proposed rule would 

prohibit the use of certain cattle 

material in, or in the manufacture 

(including processing) of, drugs, 

biologics, and medical devices intended 

for use in humans and human cells, 

tissues, and cellular and tissue-based 

products (HCT/Ps) (collectively, 

medical products for humans), and in 

drugs intended for use in ruminant 

animals (drugs for ruminants) and 

would also require new recordkeeping 

provisions for medical products for 

humans and drugs for ruminants that 

are manufactured from or otherwise 

contain material from cattle. The agency 

is reopening the comment period in 

response to a request for more time to 

enable industry to generate more 

information on products that might be 

affected by the rule. 

DATES: Submit written or electronic 

comments on the proposed rule by May 

14, 2007. 

ADDRESSES: You may submit comments, 

identified by Docket No. 2005N–0373 

and RIN number 0910–AF54, by any of 

the following methods: 

Electronic Submissions 

Submit electronic comments in the 

following ways: 

• Federal eRulemaking Portal: http:// 

www.regulations.gov. Follow the 

instructions for submitting comments. 

• Agency Web site: http:// 

www.fda.gov/dockets/ecomments. 

Follow the instructions for submitting 

comments on the agency Web site. 

Written Submissions 

Submit written submissions in the 

following ways: 

• FAX: 301–827–6870. 

• Mail/Hand delivery/Courier [For 

paper, disk, or CD-ROM submissions]: 

Division of Dockets Management (HFA–

305), Food and Drug Administration, 

5630 Fishers Lane, rm. 1061, Rockville, 

MD 20852. 

To ensure more timely processing of 

comments, FDA is no longer accepting 

comments submitted to the agency by email. FDA encourages you to continue 

to submit electronic comments by using 

the Federal eRulemaking Portal or the 

agency Web site, as described 

previously in the ADDRESSES portion of 

this document under Electronic 

Submissions. 

Instructions: All submissions received 

must include the agency name and 

Docket No(s). and Regulatory 

Information Number (RIN) for this 

rulemaking. All comments received may 

be posted without change to http:// 

www.fda.gov/ohrms/dockets/ 

default.htm, including any personal 

information provided. For additional 

information on submitting comments, 

see section II ‘‘Comments’’ in the 

SUPPLEMENTARY INFORMATION section of 

this document. 

Docket: For access to the docket to 

read background documents or 

comments received, go to http:// 

www.fda.gov/ohrms/dockets/ 

default.htm and insert the docket 

number(s), found in brackets in the 

heading of this document, into the 

‘‘Search’’ box and follow the prompts 

and/or go to the Division of Dockets 

Management, 5630 Fishers Lane, rm. 

1061, Rockville, MD 20852. 

FOR FURTHER INFORMATION CONTACT: 

For information concerning products 

regulated by the Center for Drug 

Evaluation and Research: Audrey 

A. Thomas, Center for Drug 

Evaluation and Research (HFD–

007), Food and Drug 

Administration, 5600 Fishers Lane, 

Rockville, MD 20857, 301–443–

5533, e-mail: 

audrey.thomas@fda.hhs.gov. 

For information concerning products 

regulated by the Center for Biologics 

Evaluation and Research: Stephen 

M. Ripley, Center for Biologics 

Evaluation and Research (HFM–17), 

Food and Drug Administration, 

1401 Rockville Pike, suite 200N, 

Rockville, MD 20852–1448, 301–

827–6210, e-mail: 

stephen.ripley@fda.hhs.gov. 

For information concerning products 

regulated by the Center for Devices 

and Radiological Health: Scott G. 

McNamee, Center for Devices and 

Radiological Health, Food and Drug 

Administration, 2094 Gaither Rd., 

rm. 230, Rockville, MD 20850, 240–

276–0105, e-mail: 

scott.mcnamee@fda.hhs.gov. 

For information concerning products 

regulated by the Center for 

Veterinary Medicine: Michael J. 

Popek, Center for Veterinary 

Medicine (HFV–144), Food and 

Drug Administration, 7500 Standish 

Pl., Rockville, MD 20855, 301–827–

6462, e-mail: 

michael.popek@fda.hhs.gov. 

SUPPLEMENTARY INFORMATION: 

I. Background 

In the Federal Register of January 12, 

2007 (72 FR 1582), FDA published a 

proposed rule that, if finalized, would 

prohibit the use of certain cattle 

material in, or in the manufacture 

(including processing) of, medical 

products for humans and drugs for 

ruminants. FDA also proposed new 

recordkeeping requirements for medical 

products for humans and drugs for 

ruminants that are manufactured from 

or otherwise contain material from 

cattle. 

Interested persons were given until 

March 13, 2007, to submit written or 

electronic comments to the agency on 

the proposal. On February 12, 2007, 


pwalker on PROD1PC71 with PROPOSALS