41564 Federal Register / Vol. 75, No. 136 / Friday, July 16, 2010 / Notices 

14See Notice to Members 06–62 (November 2006). 

FINRA would retain the reporting threshold 

specified in Notice to Members 06–62 of requiring 

a report for all introducing or correspondent firms 

that have overall ratios of requests for extensions of 

time to total transactions for the month that exceed 

2%. In the event FINRA adjusts the reporting 

threshold, or the limitation threshold stated in note 

15 below, it would advise members of the new 

parameters in a Regulatory Notice. 

15See supra note 14. FINRA will continue to 

prohibit further extension of time requests for (1) 

introducing or correspondent firms that exceed a 

3% ratio of the number of extension of time 

requests to total transactions for the month and (2) 

clearing firms that exceed a 1% ratio of extension 

of time requests to total transactions. 

16 In approving this proposed rule change, the 

Commission has considered the proposed rule’s 

impact on efficiency, competition, and capital 

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

17 15 U.S.C. 78o–3(b)(6). 

18 15 U.S.C. 78s(b)(2). 

19 17 CFR 200.30–3(a)(12). 

System as the Federal Reserve no longer 

publishes such a list. 

Third, the proposed rule change 

would insert the term ‘‘aggregate’’ before 

exercise price throughout proposed 

FINRA Rule 4210(f)(2)(H) and (f)(2)(N) 

to clarify a calculation must be made in 

the strategies and spreads that are noted 

(i.e., offsets, reverse conversions, 

butterfly spread, etc.). Finally, the 

proposed rule change would make 

various non-substantive changes to 

reflect the formatting, presentation and 

style conventions used in the 

Consolidated FINRA Rulebook. 

Daily Record of Margin Requirements— 

Incorporated NYSE Rule 432(a) 

FINRA proposes to adopt 

Incorporated NYSE Rule 432(a) (Daily 

Record of Required Margin) as FINRA 

Rule 4220 in substantially the form it 

exists today. Incorporated NYSE Rule 

432(a) sets forth the requirements for 

daily recordkeeping of initial and 

maintenance margin calls that are 

issued pursuant to Regulation T and the 

margin rules. There is no corresponding 

NASD rule. FINRA believes that this is 

an important requirement to heighten 

FINRA’s ability to monitor members’ 

margin call practices. In addition, 

Incorporated NYSE Rule 432(b) 

prohibits a member from allowing a 

customer to make a practice of satisfying 

initial margin calls by the liquidation of 

securities. However, this provision is 

substantially similar to the provision in 

proposed FINRA Rule 4210(f)(7), except 

that the proposed FINRA rule provision 

does not contain the exception for 

omnibus accounts. Accordingly, FINRA 

proposes to eliminate Incorporated 

NYSE Rule 432(b) and modify 

paragraph (f)(7) of FINRA Rule 4210 to 

add that the prohibition on liquidations 

shall not apply to any account carried 

on an omnibus basis as prescribed by 

Regulation T. 

Required Submissions of Requests for 

Extension of Time Under Regulation T 

and SEC Rule 15c3–3—NASD Rule 3160 

and Incorporated NYSE Rule 434 

FINRA proposes to adopt NASD Rule 

3160 (Extensions of Time Under 

Regulation T and SEC Rule 15c3–3) as 

FINRA Rule 4230 with one modification 

discussed below and delete the 

substantively similar Incorporated 

NYSE Rule 434 (Required Submission of 

Requests for Extensions of Time for 

Customers). NASD Rule 3160 and 

Incorporated NYSE Rule 434 set forth 

requirements governing members’ 

requests for extensions of time, as 

permitted in accordance with 

Regulation T and SEC Rule 15c3–3(n). 

These rules provide that when FINRA is 

the designated examining authority for 

a member, requests for extensions of 

time must be submitted to FINRA for 

approval, in a format FINRA requires. In 

addition, NASD Rule 3160 requires each 

clearing member that submits 

extensions of time on behalf of brokerdealers for which it clears to submit a 

monthly report to FINRA that indicates 

overall ratios of requested extensions of 

time to total transactions that have 

exceeded a percentage specified by 

FINRA.14 FINRA monitors the number 

of Regulation T and SEC Rule 15c3–3 

extension requests for each firm to 

determine whether to impose 

prohibitions on further extensions of 

time.15

FINRA proposes to add a provision to 

proposed FINRA Rule 4230 to clarify 

that for the months when no brokerdealer for which a clearing member 

clears exceeds the extension of time 

ratio criteria (i.e., 2%), the clearing 

member must submit a report indicating 

such. FINRA had previously requested 

such submissions but believes the 

submissions are essential to ensure 

FINRA has a complete and accurate 

understanding of correspondent firm 

extension requests. 

As stated in the notice, FINRA 

represented that it will announce the 

implementation date of the proposed 

rule change in a Regulatory Notice to be 

published no later than 90 days 

following Commission approval. The 

implementation date will be no later 

than 180 days following Commission 

approval. 

III. Commission Findings 

After careful consideration of the 

proposal, the Commission finds that the 

proposed rule change is consistent with 

the requirements of the Act and the 

rules and regulations thereunder 

applicable to a national securities 

association.16 In particular, the 

Commission finds that the proposal is 

consistent with Section 15A(b)(6) of the 

Act,17 which requires, among other 

things, that FINRA’s rules be designed 

to prevent fraudulent and manipulative 

acts and practices, to promote just and 

equitable principles of trade, and, in 

general, to protect investors and the 

public interest. The Commission 

believes the proposed rule change will 

further the purposes of the Act by, 

among other things, clarifying and 

streamlining the margin requirements 

applicable to its members, as well as 

rules addressing extension of time 

requests under Regulation T and 

Commission Rule 15c3–3 and daily 

record of required margin. The 

Commission therefore believes that it is 

appropriate and consistent with the Act 

for FINRA to adopt FINRA Rule 4210 

(Margin Requirements), FINRA Rule 

4220 (Daily Record of Required Margin) 

and FINRA Rule 4230 (Required 

Submissions for Requests for Extensions 

of Time under Regulation T and SEC 

Rule 15c3–3) in the Consolidated 

FINRA Rulebook. 

IV. Conclusion 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,18 that the 

proposed rule change (SR–FINRA– 

2010–024) be, and hereby is, approved. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.19

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–17356 Filed 7–15–10; 8:45 am] 

BILLING CODE 8010–01–P 

DEPARTMENT OF TRANSPORTATION 

Office of the Secretary 

Notice of Applications for Certificates 

of Public Convenience and Necessity 

and Foreign Air Carrier Permits Filed 

Under Subpart B (Formerly Subpart Q) 

During the Week Ending July 3, 2010 

The following Applications for 

Certificates of Public Convenience and 

Necessity and Foreign Air Carrier 

Permits were filed under subpart B 

(formerly subpart Q) of the Department 

of Transportation’s Procedural 

Regulations (See 14 CFR 301.201 et 

seq.). The due date for Answers, 

Conforming Applications, or Motions to 

Modify Scope are set forth below for 

each application. Following the Answer 

period DOT may process the application 

by expedited procedures. Such 

procedures may consist of the adoption 


srobinson on DSKHWCL6B1PROD with NOTICES
Federal Register / Vol. 75, No. 136 / Friday, July 16, 2010 / Notices 41565 

of a show-cause order, a tentative order, 

or in appropriate cases a final order 

without further proceedings. 

Docket Number: DOT–OST–2010– 

0167. 

Date Filed: June 29, 2010. 

Due Date for Answers, Conforming 

Applications, or Motion to Modify 

Scope: July 20, 2010. 

Description: Application of Virgin 

America Inc. requesting a certificate of 

public convenience and necessity to 

engage in foreign scheduled air 

transportation of persons, property and 

mail between the United States and 

Mexico. 

Docket Number: DOT–OST–2010– 

0093. 

Date Filed: July 28, 2010. 

Due Date for Answers, Conforming 

Applications, or Motion to Modify 

Scope: July 19, 2010. 

Description: Amendment of Open 

Joint Stock Company Transaero Airlines 

to its pending application for a foreign 

air carrier permit to include authority to 

provide scheduled foreign air 

transportation of persons, property and 

mail (i) from any point or points behind 

the Russian Federation, via any point or 

points in the Russian Federation and 

intermediate points, to New York, New 

York and Miami, Florida, and (ii) from 

New York, New York and Miami, 

Florida, to any point or points in the 

Russian Federation and beyond. 

Barbara J. Hairston, 

Supervisory Dockets Officer, Docket 

Operations, Alternate Federal Register 

Liaison. 

[FR Doc. 2010–17360 Filed 7–15–10; 8:45 am] 

BILLING CODE 4910–9X–P 

DEPARTMENT OF TRANSPORTATION 

National Highway Traffic Safety 

Administration 

[Docket No. NHTSA–2010–0094] 

Reports, Forms, and Record Keeping 

Requirements 

AGENCY: National Highway Traffic 

Safety Administration, DOT. 

ACTION: Request for public comment on 

proposed collection of information. 

SUMMARY: Before a Federal agency can 

collect certain information from the 

public, it must receive approval from 

the Office of Management and Budget 

(OMB). Under procedures established 

by the Paperwork Reduction Act of 

1995, before seeking OMB approval, 

Federal agencies must solicit public 

comment on the proposed collection of 

information. 

This document describes a proposed 

collection of information under 

regulations in 49 CFR parts 591, 592, 

and 593 that pertain to the importation 

of motor vehicles and items of motor 

vehicle equipment that are subject to the 

Federal motor vehicle safety, bumper, 

and theft prevention standards. 

DATES: Comments must be received on 

or before September 14, 2010. 

ADDRESSES: You may submit comments 

[identified by DOT Docket No. NHTSA– 

2010–0094] by any of the following 

methods: 

• Federal eRulemaking Portal: Go to 

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

online instructions for submitting 

comments. 

• Mail: Docket Management Facility: 

U.S. Department of Transportation, 1200 

New Jersey Avenue, SE., West Building 

Ground Floor, Room W12–140, 

Washington, DC 20590–0001. 

• Hand Delivery or Courier: West 

Building Ground Floor, Room W12–140, 

1200 New Jersey Avenue, SE., between 

9 a.m. and 5 p.m. ET, Monday through 

Friday, except Federal holidays. 

Telephone: 1–800–647–5527. 

• Fax: 202–493–2251 

Instructions: All submissions must 

include the agency name and docket 

number for this proposed collection of 

information. Note that all comments 

received will be posted without change 

to http://www.regulations.gov, including 

any personal information provided. 

Please see the Privacy Act heading 

below. 

Privacy Act: Anyone is able to search 

the electronic form of all comments 

received into any of our dockets by the 

name of the individual submitting the 

comment (or signing the comment, if 

submitted on behalf of an association, 

business, labor union, etc.). You may 

review DOT’s complete Privacy Act 

Statement in the Federal Register 

published on April 11, 2000 (65 FR 

19477–78) or you may visit http:// 

DocketInfo.dot.gov. 

Docket: For access to the docket to 

read background documents or 

comments received, go to http:// 

www.regulations.gov and follow the 

online instructions for assessing the 

dockets. Alternately, you may visit in 

person the Docket Management Facility 

at the street address listed above. 

FOR FURTHER INFORMATION CONTACT: 

Coleman Sachs, Office of Vehicle Safety 

Compliance (NVS–223), National 

Highway Traffic Safety Administration, 

West Building—4th Floor—Room W43– 

481, 1200 New Jersey Avenue, SE., 

Washington, DC 20590. Mr. Sachs’ 

telephone number is (202) 366–3151. 

Please identify the relevant collection of 

information by referring to its OMB 

Control Number. 

SUPPLEMENTARY INFORMATION: 

Prior Approval 

On August 31, 2007, NHTSA 

submitted to OMB a request for the 

extension of the agency’s approval 

(assigned OMB Control No. 2127–0002) 

of the information collection that is 

incident to NHTSA’s administration of 

the vehicle importation regulations at 49 

CFR Parts 591, 592, and 593. On 

November 11, 2007, OMB notified 

NHTSA that it had approved this 

extension request through November 30, 

2010. That approval was based on 

NHTSA submissions identifying 

information being collected on an 

annual basis from 63,818 respondents, 

expending 42,413 hours of effort, at a 

cost of $1,039,756. NHTSA wishes to 

file with OMB a request for that agency 

to extend its approval for an additional 

three years. 

Changes in Program 

Since the information collection 

associated with NHTSA’s importation 

program was last approved by OMB, no 

significant changes have taken place 

that impact the information collection 

and the assessment of its burden on 

affected members of the public. The 

U.S. dollar has not gained sufficient 

strength against foreign currencies to 

significantly increase the volume of 

vehicle imports that are subject to 

NHTSA’s scrutiny. The focus of 

NHTSA’s importation program is on 

vehicles that were not originally 

manufactured to comply with all 

applicable Federal motor vehicle safety 

standards (FMVSS). These vehicles 

must be imported by a registered 

importer (RI) under bond to ensure that 

the vehicles are brought into 

compliance with applicable standards 

following importation. Nonconforming 

vehicles are entered under Box 3 on the 

HS–7 Declaration form. In calendar year 

2002, 212,210 nonconforming vehicles 

were imported under Box 3. Over 97 

percent of those vehicles were imported 

from Canada. In 2003, after the U.S. 

dollar began to weaken against the 

Canadian dollar, the volume of 

nonconforming vehicle imports under 

Box 3 was reduced by more than half, 

to 97,337 vehicles. The trend 

accelerated over the next five years, 

with 43,648 vehicles imported under 

Box 3 in 2004, 12,642 imported in 2005, 

10,953 imported in 2006, 7,470 

imported in 2007, and 6,311 imported 

in 2008. After the U.S. dollar had gained 

some strength against the Canadian 

dollar, the volume of imports under Box 

3 increased in 2009 to 10,752 vehicles. 


srobinson on DSKHWCL6B1PROD with NOTICES