Federal Register / Vol. 77, No. 39 / Tuesday, February 28, 2012 / Notices 12089 

Week of April 2, 2012—Tentative 

There are no meetings scheduled for 

the week of April 2, 2012. 

* * * * * 

*The schedule for Commission 

meetings is subject to change on short 

notice. To verify the status of meetings, 

call (recording)—(301) 415–1292. 

Contact person for more information: 

Rochelle Bavol, (301) 415–1651. 

* * * * * 

The NRC Commission Meeting 

Schedule can be found on the Internet 

at: http://www.nrc.gov/public-involve/ 

public-meetings/schedule.html. 

* * * * * 

The NRC provides reasonable 

accommodation to individuals with 

disabilities where appropriate. If you 

need a reasonable accommodation to 

participate in these public meetings, or 

need this meeting notice or the 

transcript or other information from the 

public meetings in another format (e.g. 

braille, large print), please notify Bill 

Dosch, Chief, Work Life and Benefits 

Branch, at 301–415–6200, TDD: 301– 

415–2100, or by email at 

william.dosch@nrc.gov. Determinations 

on requests for reasonable 

accommodation will be made on a caseby-case basis. 

* * * * * 

This notice is distributed 

electronically to subscribers. If you no 

longer wish to receive it, or would like 

to be added to the distribution, please 

contact the Office of the Secretary, 

Washington, DC 20555 (301–415–1969), 

or send an email to 

darlene.wright@nrc.gov. 

Dated: February 23, 2012. 

Rochelle C. Bavol, 

Policy Coordinator, Office of the Secretary. 

[FR Doc. 2012–4814 Filed 2–24–12; 4:15 pm] 

BILLING CODE 7590–01–P 

NUCLEAR REGULATORY 

COMMISSION 

[NRC–2012–0048] 

Proposed Generic Communication; 

Regulatory Issue Summary 2012–XX: 

Developing Inservice Testing and 

Inservice Inspection Programs 

AGENCY: Nuclear Regulatory 

Commission. 

ACTION: Draft regulatory issue summary: 

request for comment. 

SUMMARY: The U.S. Nuclear Regulatory 

Commission (NRC) is seeking public 

comment on a draft regulatory issue 

summary that would describe an 

acceptable approach for holders of 

combined licenses under Title 10 of the 

Code of Federal Regulations (10 CFR) 

Part 52, ‘‘Licenses, Certifications, and 

Approvals for Nuclear Power Plants,’’ to 

satisfy the requirements in 10 CFR 

50.55a, ‘‘Codes and standards,’’ 

regarding implementation of inservice 

inspection and inservice testing 

programs during the initial 120-month 

program interval following nuclear 

power plant startup. 

DATES: Submit comments by April 13, 

2012. Comments received after this date 

will be considered if it is practical to do 

so, but the NRC is able to assure 

consideration only for comments 

received on or before this date. 

ADDRESSES: You may access information 

and comment submissions related to 

this document, which the NRC 

possesses and is publicly-available, by 

searching on http://www.regulations.gov 

under Docket ID NRC–2012–0048. You 

may submit comments by the following 

methods: 

• Federal Rulemaking Web site: Go to 

http://www.regulations.gov and search 

for Docket ID NRC–2012–0048. Address 

questions about NRC dockets to Carol 

Gallagher; telephone: 301–492–3668; 

email: Carol.Gallagher@nrc.gov. 

• Mail comments to: Cindy Bladey, 

Chief, Rules, Announcements, and 

Directives Branch (RADB), Office of 

Administration, Mail Stop: TWB–05– 

B01M, U.S. Nuclear Regulatory 

Commission, Washington, DC 20555– 

0001. 

• Fax comments to: RADB at 301– 

492–3446. 

For additional direction on accessing 

information and submitting comments, 

see ‘‘Accessing Information and 

Submitting Comments’’ in the 

SUPPLEMENTARY INFORMATION section of 

this document. 

FOR FURTHER INFORMATION CONTACT: 

Andrea Russell, Project Manager, 

Generic Communications Branch, 

Division of Policy and Rulemaking, 

Office of Nuclear Reactor Regulation, 

Mail Stop: OWFN–12–D20, U.S. Nuclear 

Regulatory Commission, Washington, 

DC 20555–0001; telephone: 301–415– 

8553, email: Andrea.Russell@nrc.gov. 

SUPPLEMENTARY INFORMATION: 

I. Accessing Information and 

Submitting Comments 

A. Accessing Information 

Please refer to Docket ID NRC–2012– 

0048 when contacting the NRC about 

the availability of information regarding 

this document. You may access 

information related to this document, 

which the NRC possesses and is 

publicly-available, by the following 

methods: 

• Federal Rulemaking Web Site: Go to 

http://www.regulations.gov and search 

for Docket ID NRC–2012–0048. 

• NRC’s Agencywide Documents 

Access and Management System 

(ADAMS): You may access publiclyavailable documents online in the NRC 

Library at http://www.nrc.gov/readingrm/adams.html. To begin the search, 

select ‘‘ADAMS Public Documents’’ and 

then select ‘‘Begin Web-based ADAMS 

Search.’’ For problems with ADAMS, 

please contact the NRC’s Public 

Document Room (PDR) reference staff at 

1–800–397–4209, 301–415–4737, or by 

email to pdr.resource@nrc.gov. The 

Draft Regulatory Issue Summary 

‘‘Developing Inservice Testing and 

Inservice Inspection Programs Under 10 

CFR part 52,’’ is available electronically 

under ADAMS Accession Number 

ML111360204. 

• NRC’s PDR: You may examine and 

purchase copies of public documents at 

the NRC’s PDR, Room O1–F21, One 

White Flint North, 11555 Rockville 

Pike, Rockville, Maryland 20852. 

B. Submitting Comments 

Please include Docket ID NRC–2012– 

0048 in the subject line of your 

comment submission, in order to ensure 

that the NRC is able to make your 

comment submission available to the 

public in this docket. 

The NRC cautions you not to include 

identifying or contact information in 

comment submissions that you do not 

want to be publicly disclosed. The NRC 

posts all comment submissions at 

http://www.regulations.gov as well as 

entering the comment submissions into 

ADAMS, and the NRC does not edit 

comment submissions to remove 

identifying or contact information. 

If you are requesting or aggregating 

comments from other persons for 

submission to the NRC, then you should 

inform those persons not to include 

identifying or contact information in 

their comment submissions that they do 

not want to be publicly disclosed. Your 

request should state that the NRC will 

not edit comment submissions to 

remove such information before making 

the comment submissions available to 

the public or entering the comment 

submissions into ADAMS. 

II. Discussion 

Addressees 

All current and potential applicants 

for and holders of a combined license 

(COL) or standard design certification 

for a nuclear power plant under the 

provisions of Title 10 of the Code of 

Federal Regulations (10 CFR) Part 52, 

‘‘Licenses, Certifications, and Approvals 

for Nuclear Power Plants.’’ 


tkelley on DSK3SPTVN1PROD with NOTICES
12090 Federal Register / Vol. 77, No. 39 / Tuesday, February 28, 2012 / Notices 

Intent 

The U.S. Nuclear Regulatory 

Commission (NRC) is issuing this 

regulatory issue summary (RIS) to 

describe an acceptable approach for 

COL holders (licensees) to satisfy the 

requirements in 10 CFR 50.55a, ‘‘Codes 

and standards,’’ regarding 

implementation of inservice inspection 

(ISI) and inservice testing (IST) 

programs during the initial 120-month 

program interval following plant 

startup. In addition, this RIS discusses 

acceptable approaches for developing 

preservice inspection programs and 

Risk-Informed ISI and IST programs. 

This RIS does not transmit any new 

requirements and does not require any 

specific action or written response. 

Background Information 

The regulations in 10 CFR 

50.55a(f)(4)(i) and (g)(4)(i) require, in 

part, that inservice tests to verify the 

operational readiness of safety-related 

pumps and valves and inservice 

examinations of components and system 

pressure tests conducted during the 

initial 120-month testing and inspection 

interval must comply with the 

requirements in the latest edition and 

addenda of the American Society of 

Mechanical Engineers (ASME) Boiler & 

Pressure Vessel Code (B&PV Code) and 

ASME Code for Operation and 

Maintenance of Nuclear Power Plants 

(OM Code) incorporated by reference in 

10 CFR 50.55a, on the date that occurs 

12 months before the date scheduled for 

initial loading of fuel under a COL 

issued under 10 CFR part 52 (or the 

optional ASME Code cases listed in 

NRC Regulatory Guide (RG) 1.147, 

‘‘Inservice Inspection Code Case 

Acceptability, ASME Section XI, 

Division 1,’’ and RG 1.192, ‘‘Operation 

and Maintenance Code Case 

Acceptability, ASME OM Code,’’ that 

are incorporated by reference in 10 CFR 

50.55a). 

In addition, the NRC regulations in 10 

CFR 52.47(a)(3)(i) require, in part, that 

a design certification application must 

contain the principal design criteria for 

the facility. Appendix A to 10 CFR part 

50, general design criteria (GDC), 

establishes minimum requirements for 

the principal design criteria. GDCs 32, 

36, 37, 39, 40, 42, 43, 45, and 46 require 

that safety-related components and 

systems shall be designed to permit 

appropriate periodic inspection of 

important components to assure their 

integrity and capability of the system 

and periodic testing to assure (1) the 

structural and leak-tight integrity of its 

components; (2) the operability and 

performance of the active components 

of the system; and (3) the operability of 

the system as a whole. The periodic 

inspections and testing programs are 

required to meet the ASME B&PV Code 

and OM Code, respectively, in 

accordance with 10 CFR 50.55a. 

Lastly, the NRC regulations in 10 CFR 

52.79(a)(11) require that the COL 

applicant describe the programs (such 

as ISI and IST programs) and their 

implementation, necessary to ensure 

that the systems and components meet 

the requirements in the ASME OM Code 

and ASME B&PV Code, Section XI. 

These operational programs are required 

to be fully described when the COL 

application is submitted to the NRC for 

review. 

The requirements in the above three 

NRC regulations appear to provide 

overlapping and conflicting 

requirements on establishing the 

applicable editions and addenda of the 

ASME B&PV and OM Codes to be used 

for the initial 120-month ISI and IST 

program intervals and have caused 

confusion during the NRC staff’s review 

of design certification and COL 

applications. This RIS describes how 

the NRC staff, design certification 

applicants and COL applicants have 

addressed these requirements in the 

reviews of design certification and COL 

applications under 10 CFR part 52. 

Summary of Issue 

The NRC regulations in 10 CFR part 

52 allow a two-step process for licensing 

new nuclear power plants where a 

Standard Design Certification is granted 

with subsequent issuance of a COL 

referencing the certified design. Under 

this process, the regulations in 10 CFR 

52.47 require the design certification 

application to contain a level of design 

information sufficient to enable the 

Commission to judge the applicant’s 

proposed means of assuring that 

construction conforms to the design and 

to reach a final conclusion on all safety 

questions associated with the design 

before the certification is granted. A 

Design Control Document (DCD) 

supporting a design certification 

application may provide general 

information on operational programs 

(such as ISI and IST programs) with 

allowance for flexibility by the COL 

applicant when developing plantspecific operational programs. The NRC 

staff reviews the general description of 

the operational programs in the DCD to 

ensure an adequate foundation for the 

plant-specific operational programs to 

be developed by COL applicants. With 

respect to IST programs, the NRC staff 

review of the DCD focuses on 

accessibility for the performance of IST 

activities. To reduce the amount of 

information needed in subsequent COL 

applications, some design certification 

applicants provide more detailed 

descriptions of ISI and IST operational 

programs in their DCDs than required by 

the NRC regulations for a design 

certification application. 

The NRC regulations in 10 CFR 

52.79(a)(11) require a COL applicant to 

provide, in its safety analysis report, a 

description of the programs and their 

implementation necessary to ensure that 

the systems and components meet the 

requirements of the ASME B&PV Code 

and ASME OM Code in accordance with 

10 CFR 50.55a at a level sufficient to 

enable the NRC to reach a final 

conclusion on all safety matters that 

must be resolved before COL issuance. 

In SECY–05–0197, ‘‘Review of 

Operational Programs in a Combined 

License Application and General 

Emergency Planning Inspections, Tests, 

Analyses, and Acceptance Criteria 

[ITAAC],’’ (Agencywide Documents 

Access and Management System 

(ADAMS) Accession No. ML052770257) 

dated October 28, 2005, the NRC 

concluded that operational programs 

(such as ISI and IST programs) could be 

fully described in a COL application 

and recognized that some operational 

programs would not be available at the 

time of COL issuance. In accordance 

with this guidance, the description of 

the program would contain the 

information necessary for the NRC staff 

to make a reasonable assurance finding 

on the acceptability of the operational 

program in the review of a COL 

application. This information would 

specify an edition and addenda of the 

ASME B&PV Code and OM Code that 

would be the basis for the ISI and IST 

program described in the COL 

application. The NRC staff developed 

license conditions to provide certainty 

as to when the operational programs 

would be implemented in support of 

plant startup. 

Following COL issuance, the NRC 

regulations in 10 CFR 50.55a(f)(4)(i) and 

(g)(4)(i) require, in part, that inservice 

tests verify the operational readiness of 

safety-related pumps and valves and 

inservice examinations of components 

and system pressure tests conducted 

during the initial 120-month testing and 

inspection interval must comply with 

the requirements in the latest edition 

and addenda of the ASME B&PV Code 

and OM Code incorporated by reference 

in 10 CFR 50.55a, on the date that 

occurs 12 months before the date 

scheduled for initial loading of fuel 

under a COL issued in accordance with 

10 CFR part 52 (or the optional ASME 

Code cases listed in NRC RG 1.147 and 


tkelley on DSK3SPTVN1PROD with NOTICES
Federal Register / Vol. 77, No. 39 / Tuesday, February 28, 2012 / Notices 12091 

RG 1.192 that are incorporated by 

reference in 10 CFR 50.55a). 

Several years may elapse between the 

time when a design certification is 

granted and when a COL application is 

submitted referencing that certified 

design. Further, the construction of a 

nuclear power plant will require several 

years from the time of COL issuance 

until the commencement of fuel 

loading. Therefore, design certification 

and COL applicants and holders need to 

be aware of the interrelated 

requirements in 10 CFR 50.55a and 10 

CFR part 52 regarding the development 

and implementation of ISI and IST 

programs for nuclear power plants to be 

licensed under 10 CFR part 52. 

Design Certification and COL 

Applicants 

The NRC regulations in 10 CFR 

52.79(a)(11) require that the COL 

applicant describe the IST and ISI 

programs and their implementation, 

necessary to ensure that the systems and 

components meet the requirements in 

the ASME OM Code and ASME B&PV 

Code, Section XI. NRC RG 1.206, 

‘‘Combined License Applications for 

Nuclear Power Plants (LWR Edition),’’ 

and SECY–05–0197 provide guidance 

for COL applicants in describing their 

IST and ISI programs in support of the 

COL applications. As part of its 

description of the IST and ISI programs, 

the COL applicant must identify the 

edition and addenda of the ASME OM 

Code and ASME B&PV Code, Section 

XI, to be used in developing its IST and 

ISI programs, respectively. In some 

cases, it may be the same edition and 

addenda used in the design 

certification. In other cases, it may be 

the latest edition and addenda of the 

ASME OM Code or ASME B&PV Code, 

Section XI, incorporated by reference in 

10 CFR 50.55a at the time of the COL 

application. In describing IST and ISI 

programs, COL applicants should 

recognize that the NRC regulations in 10 

CFR 50.55a require updating of ISI and 

IST programs prior to fuel loading. 

Design certification applicants should 

also be aware of this 10 CFR 50.55a 

requirement when describing IST and 

ISI programs in their DCDs for reference 

by COL applicants. 

COL Licensees 

After the COL is issued, the COL 

licensee will initiate development of the 

ISI and IST programs to allow 

implementation of those programs in 

preparation for plant operation. During 

development of the ISI and IST 

programs, the COL licensee should be 

aware of the NRC regulations under 10 

CFR 50.55a(f)(4)(i) and 10 CFR 

50.55a(g)(4)(i) that require the COL 

licensee to develop its initial 120-month 

interval IST and ISI programs using the 

latest edition and addenda of the ASME 

OM Code and ASME B&PV Code, 

Section XI, incorporated by reference in 

10 CFR 50.55a(b) on the date that occurs 

12 months before the date scheduled for 

initial loading of fuel. Therefore, the 

COL licensee should anticipate that the 

ASME B&PV Code and OM Code might 

be revised to incorporate industry 

operating experience and technological 

advances prior to fuel loading for its 

nuclear power plant. 

NRC Staff Position 

The NRC staff recognizes that a COL 

licensee might encounter significant 

logistical and scheduling issues when 

converting its IST and ISI programs 

from the edition and addenda of the 

ASME OM Code and ASME B&PV Code 

specified in the COL application to the 

edition and addenda of these codes 

incorporated by reference in 10 CFR 

50.55a on the date that occurs 12 

months before fuel loading. 

The NRC regulations allow 

alternatives to the requirements of 10 

CFR 50.55a to be used if the applicant 

demonstrates that (1) the proposed 

alternative would provide an acceptable 

level of quality and safety, or (2) 

compliance with the specified 

requirements of 10 CFR 50.55a would 

result in hardship or unusual difficulty 

without a compensating increase in the 

level of quality and safety. Therefore, a 

COL licensee may request authorization 

by the NRC staff to use an edition and 

addenda of the ASME OM Code for 

developing its initial 120-month IST 

program that is earlier than that 

required under 10 CFR 50.55a(f)(4)(i) 

and, similarly, to use an edition and 

addenda of the ASME B&PV Code, 

Section XI, for developing its initial 

120-month ISI program that is earlier 

than that required under 10 CFR 

50.55a(g)(4)(i). 

One acceptable approach would be for 

the COL licensee to submit to the NRC 

a request to authorize, as an alternative, 

the use of the same edition and addenda 

of the ASME OM Code or ASME B&PV 

Code, Section XI, that was specified in 

the design certification or COL 

application for the initial 120-month 

IST and ISI programs. In its request for 

authorization of an alternative, the COL 

licensee would need to demonstrate that 

it meets one of the conditions described 

in 10 CFR 50.55a. In addition, a COL 

licensee may request exemptions or 

departures for IST and ISI programs in 

accordance with Section VIII, 

‘‘Processes for Changes and Departures’’ 

which is located in each of the 

Appendices A–D of 10 CFR part 52. 

When evaluating a proposed 

alternative under 10 CFR 50.55a, the 

NRC staff will compare the IST and ISI 

provisions in the proposed code edition 

and addenda to the required edition and 

addenda of these codes incorporated by 

reference in 10 CFR 50.55a on the date 

that occurs 12 months before fuel 

loading. As part of its review, the NRC 

staff will evaluate the differences 

between the IST and ISI provisions in 

those respective code editions and 

addenda. The NRC staff will also 

consider whether the alternative enables 

the testing and inspections applicable to 

NUREG–0933 generic safety issues and 

operational lessons learned that are 

incorporated into the design under 10 

CFR 52.47(a)(21)and (22). Therefore, the 

design certification and COL applicants 

should consider the edition and 

addenda of the ASME OM Code and 

ASME B&PV Code, Section XI, specified 

in the descriptions of the IST and ISI 

programs in their design certification 

and COL applications, and whether 

those code editions and addenda reflect 

lessons learned from operating 

experience at nuclear power plants 

(including IST and ISI activities) and 

industry and regulatory research 

programs that will be incorporated into 

later code addenda and editions. 

Preservice Inspection Using ASME 

B&PV Code, Section III 

The NRC staff has received inquiries 

from design certification and COL 

applicants about the edition and 

addenda of ASME B&PV Code, Section 

III that they should use for developing 

a preservice inspection (PSI) program. 

The NRC regulations in 10 CFR 

50.55a(g)(3)(i) and (ii) require, in part, 

that Class 1 components and supports, 

and Class 2 and 3 components and 

supports for Class 1 components must 

meet the preservice examination 

requirements set forth in the editions 

and addenda of Section III or XI of the 

ASME B&PV Code (or ASME OM Code 

for snubber examination and testing) 

incorporated by reference in 10 CFR 

50.55a that apply to the construction of 

the particular component. A design 

certification applicant may specify the 

edition and addenda of Section III of the 

ASME B&PV Code that has been 

incorporated by reference in 10 CFR 

50.55a for the design of its Class 1, 2, 

and 3 components. A COL licensee may 

use this same edition and addenda of 

Section III to develop its PSI program. 

However, the staff prefers that COL 

applicants specify the latest edition and 

addenda of ASME B&PV Code, Section 

III that is incorporated by reference in 


tkelley on DSK3SPTVN1PROD with NOTICES
12092 Federal Register / Vol. 77, No. 39 / Tuesday, February 28, 2012 / Notices 

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

2 17 CFR 240.19b–4. 

10 CFR 50.55a. This action effectively 

minimizes the differences in preservice 

examination requirements when 

developing the ISI program but is not 

mandatory. 

For its initial 120-month interval, a 

COL licensee may submit to the NRC a 

request to authorize an alternative to use 

a different edition and addenda of 

ASME B&PV Code, Section III, than that 

established in the design certification 

application, or an earlier edition and 

addenda of ASME B&PV Code, Section 

XI, than that required by 10 CFR 

50.55a(g)(3)(i), for developing its PSI 

program. According to 10 CFR 50.55a, 

the COL licensee would need to 

demonstrate that (1) this edition and 

addenda of ASME B&PV Code, Section 

III or XI, would provide an acceptable 

level of quality and safety, or (2) 

compliance with the specified 

requirement to use the latest edition and 

addenda would result in hardship or 

unusual difficulty without a 

compensating increase in the level of 

quality and safety. 

Risk-Informed IST and ISI Programs 

On several occasions, the NRC staff 

has been asked to define its position on 

Risk-Informed IST and ISI program 

submittals during the COL application 

process. A COL applicant or licensee 

may submit Risk-Informed IST and ISI 

programs for NRC staff review and 

authorization as an alternative to the 

regulations as described in 10 CFR 

50.55a. The COL applicant or licensee 

will need to satisfy the requirements for 

authorization of an alternative as 

specified in 10 CFR 50.55a. 

The NRC staff recommends that a 

conventional IST or ISI program be in 

place or developed before preparing a 

Risk-Informed IST or ISI program to 

facilitate the evaluation of the 

acceptability of the alternative program. 

This recommendation is based solely on 

the fact that the existing design 

certification applications, the Standard 

Review Plan acceptance criteria, the 

applicable NUREG documents, and the 

COL applications conform to the 

premise that conventional IST/ISI 

programs have been developed prior to 

a Risk-Informed program. No regulation 

requires that a conventional IST/ISI 

program be developed prior to a RiskInformed IST or ISI program submission 

as an alternative. However, the NRC 

staff considers this approach to provide 

the most expedient course for review 

and approval of a Risk Informed IST or 

ISI program. 

Backfit Discussion 

This RIS clarifies current regulatory 

requirements and provides voluntary 

options that a COL licensee may 

propose. The RIS imposes no new 

requirements and necessitates no action 

or written response. Therefore, it does 

not constitute a backfit under 10 CFR 

50.109, ‘‘Backfitting,’’ and the staff did 

not perform a backfit analysis. 

Congressional Review Act 

[Discussion to be provided in the final 

RIS.] 

Paperwork Reduction Act Statement 

This RIS does not contain new or 

amended information collection 

requirements that are subject to the 

Paperwork Reduction Act of 1995 (44 

U.S.C. 3501 et seq.). The Office of 

Management and Budget (OMB) 

approved the existing requirements 

under OMB approval numbers 3150– 

0011 and 3150–0151. 

Public Protection Notification 

The NRC may not conduct or sponsor, 

and a person is not required to respond 

to, an information collection unless the 

requesting document displays a 

currently valid OMB control number. 

Contact 

Please direct any questions about this 

matter to Andrea Russell, Project 

Manager, telephone 301–415–8553, or 

email Andrea.Russell@nrc.gov. 

For the Nuclear Regulatory Commission. 

Dated at Rockville, Maryland, this 16th day 

of February 2012. 

Kimyata Morgan-Butler, 

Acting Chief, Generic Communications 

Branch, Division of Policy and Rulemaking, 

Office of Nuclear Reactor Regulation. 

[FR Doc. 2012–4647 Filed 2–27–12; 8:45 am] 

BILLING CODE 7590–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meeting Notice 

Notice is hereby given, pursuant to 

the provisions of the Government in the 

Sunshine Act, Public Law 94–409, that 

the Securities and Exchange 

Commission will hold a Closed Meeting 

on Thursday, March 1, 2012 at 2 p.m. 

Commissioners, Counsel to the 

Commissioners, the Secretary to the 

Commission, and recording secretaries 

will attend the Closed Meeting. Certain 

staff members who have an interest in 

the matters also may be present. 

The General Counsel of the 

Commission, or his designee, has 

certified that, in his opinion, one or 

more of the exemptions set forth in 5 

U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) 

and 17 CFR 200.402(a)(3), (5), (7), 9(ii) 

and (10), permit consideration of the 

scheduled matters at the Closed 

Meeting. 

Commissioner Paredes, as duty 

officer, voted to consider the items 

listed for the Closed Meeting in a closed 

session. 

The subject matter of the Closed 

Meeting scheduled for Thursday, March 

1, 2012 will be: 

Institution and settlement of injunctive 

actions; 

Institution and settlement of 

administrative proceedings; and 

Other matters relating to enforcement 

proceedings. 

At times, changes in Commission 

priorities require alterations in the 

scheduling of meeting items. 

For further information and to 

ascertain what, if any, matters have been 

added, deleted or postponed, please 

contact: 

The Office of the Secretary at (202) 

551–5400. 

February 23, 2012. 

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2012–4808 Filed 2–24–12; 11:15 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–66442; File No. SR–FINRA– 

2012–012] 

Self-Regulatory Organizations; 

Financial Industry Regulatory 

Authority, Inc.; Notice of Filing of 

Proposed Rule Change Relating To 

Raising the Limit for Simplified 

Arbitration 

February 22, 2012. 

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 February 9, 

2012, Financial Industry Regulatory 

Authority, Inc. (‘‘FINRA’’) 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 

substantially prepared by FINRA. 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 proposing to amend 

FINRA’s Customer and Industry Codes 


tkelley on DSK3SPTVN1PROD with NOTICES