40140 Federal Register / Vol. 77, No. 130 / Friday, July 6, 2012 / Notices 

9 In approving this proposed rule change, the 

Commission has considered the proposed rule’s 

impact on efficiency, competition, and capital 

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

10 15 U.S.C. 78f(b)(5). 

11See NYSE Amex Options Rule 925NY. 

12 15 U.S.C. 78s(b)(2). 

13 15 U.S.C. 78s(b)(2). 

14 17 CFR 200.30–3(a)(12). 

III. Discussion 

The Commission finds that the 

proposed rule change, as modified by 

Amendment No. 1, is consistent with 

the requirements of the Act and the 

rules and regulations thereunder 

applicable to a national securities 

exchange.9 Specifically, the 

Commission finds that the proposal, as 

modified by Amendment No. 1, is 

consistent with Section 6(b)(5) of the 

Act,10 in that it is designed to promote 

just and equitable principles of trade, to 

foster cooperation and coordination 

with persons engaged in facilitating 

transaction in securities, to remove 

impediments and perfect the 

mechanisms of a free and open market, 

and, in general, to protect investors and 

the public interest. 

The Exchange noted its belief that 

decreasing the minimum settings in the 

Mechanism would provide Market 

Makers with greater control and 

flexibility with respect to managing 

their risk and the manner in which they 

enter quotes on the Exchange. The 

Exchange also notes that the proposed 

rule change allowing the Exchange to 

modify Mechanism settings by 

Regulatory Bulletin is consistent with 

the Act because it would permit the 

Exchange to increase or decrease the 

Mechanism settings to accommodate 

system capacity concerns. The Exchange 

has also represented that it believes 

providing at least one day of advance 

notice via Regulatory Bulletin prior to 

making adjustments to the Mechanism 

would afford Market Makers sufficient 

time to review their settings and make 

any necessary operational or 

technological changes to accommodate 

such adjustments. Finally, the 

Commission notes that the proposal 

would not relieve Market Makers of 

their quoting obligations on the 

Exchange under the Exchange’s rules.11

For these reasons, the Commission 

believes that the proposed rule change, 

as modified by Amendment No. 1, is 

consistent with the Act. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether Amendment No. 1 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 email to rulecomments@sec.gov. Please include File 

Number SR–NYSEAmex–2012–23 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–NYSEAmex–2012–23. This 

file number should be included on the 

subject line if email 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 

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 

10:00 a.m. and 3:00 p.m. Copies of such 

filing also will be available for 

inspection and copying at the principal 

office of the Exchange. 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 

publicly available. All submissions 

should refer to File Number SR– 

NYSEAmex-2012–23 and should be 

submitted on or before July 27, 2012. 

V. Accelerated Approval of Proposed 

Rule Change, as Modified by 

Amendment No. 1 

As discussed above, Amendment 

No. 1 revised the proposed rule change 

to specify that, when announcing 

changes to the Mechanism via 

Regulatory Bulletin, the Exchange will 

issue the bulletin at least one trading 

day in advance of the effective date of 

the change. The Exchange also specified 

that such bulletins will include: 

(1) Information regarding the changes to 

the risk settings in the Mechanism; (2) 

the effective date of the changes; and (3) 

contact information of Exchange staff 

who can provide additional 

information. The Exchange also stated 

its belief that providing at least one day 

of advance notice prior to making 

adjustments would afford Market 

Makers sufficient time to review their 

settings and make any necessary 

operational or technological changes to 

accommodate such adjustments to their 

own settings in the Mechanism or to 

their own proprietary systems. The 

Commission believes that the 

amendment addresses potential 

concerns about when the Exchange 

would provide notice of changes to the 

Mechanism settings, the form of such 

notice, and whether such notice would 

afford Market Makers sufficient time to 

adjust their settings in the Mechanism 

or their proprietary systems. 

Accordingly, the Commission also finds 

good cause, pursuant to Section 19(b)(2) 

of the Act,12 for approving the proposed 

rule change, as modified by Amendment 

No. 1, prior to the 30th day after the 

date of publication of notice in the 

Federal Register. 

VI. Conclusion 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,13 that the 

proposed rule change (SR–NYSEAmex– 

2012–23), as modified by Amendment 

No. 1, be, and hereby is, approved on an 

accelerated basis. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.14

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2012–16518 Filed 7–5–12; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF STATE 

[Public Notice 7946] 

Bureau of Political-Military Affairs; 

Statutory Debarment of Pratt & 

Whitney Canada Corporation Under 

the Arms Export Control Act and the 

International Traffic in Arms 

Regulations 

ACTION: Notice. 

SUMMARY: Notice is hereby given that 

the Department of State, acting pursuant 

to section 127.7(c) of the International 

Traffic in Arms Regulations (‘‘ITAR’’) 

(22 CFR Parts 120–130), imposed a 


TKELLEY on DSK3SPTVN1PROD with NOTICES
Federal Register / Vol. 77, No. 130 / Friday, July 6, 2012 / Notices 40141 

statutory debarment on Pratt & Whitney 

Canada Corporation (‘‘P&W Canada’’) as 

a result of its conviction for violating 

section 38 of the Arms Export Control 

Act, as amended, (‘‘AECA’’) (22 U.S.C. 

2778). 

DATES: Effective Date: June 28, 2012. 

FOR FURTHER INFORMATION CONTACT: Lisa 

Aguirre, Director, Office of Defense 

Trade Controls Compliance, Bureau of 

Political-Military Affairs, Department of 

State (202) 632–2798. 

SUPPLEMENTARY INFORMATION: Section 

38(g)(4) of the AECA, 22 U.S.C. 

2778(g)(4), prohibits the Department of 

State from issuing licenses or other 

approvals for the export of defense 

articles or defense services where the 

applicant, or any party to the export, has 

been convicted of violating certain 

statutes, including the AECA. The 

statute permits limited exceptions to be 

made on a case-by-case basis. In 

implementing this provision, Section 

127.7 of the ITAR provides for 

‘‘statutory debarment’’ of any person 

who has been convicted of violating or 

conspiring to violate the AECA. Persons 

subject to statutory debarment are 

prohibited from participating directly or 

indirectly in the export of defense 

articles, including technical data, or in 

the furnishing of defense services for 

which a license or other approval is 

required. 

Statutory debarment is based solely 

upon conviction in a criminal 

proceeding, conducted by a United 

States Court, and as such the 

administrative debarment procedures 

outlined in Part 128 of the ITAR are not 

applicable. 

The period for debarment will be 

determined by the Assistant Secretary 

for Political-Military Affairs based on 

the underlying nature of the violations, 

but will generally be for three years 

from the date of conviction. Export 

privileges may be reinstated only at the 

request of the debarred person followed 

by the necessary interagency 

consultations, after a thorough review of 

the circumstances surrounding the 

conviction, and a finding that 

appropriate steps have been taken to 

mitigate any law enforcement concerns, 

as required by Section 38(g)(4) of the 

AECA. Unless export privileges are 

reinstated, however, the person remains 

debarred. 

Department of State policy permits 

debarred persons to apply to the 

Director, Office of Defense Trade 

Controls Compliance, for reinstatement 

beginning one year after the date of the 

debarment. Any decision to grant 

reinstatement can be made only after the 

statutory requirements of Section 

38(g)(4) of the AECA have been 

satisfied. 

Exceptions, also known as transaction 

exceptions, may be made to this 

debarment determination on a case-bycase basis at the discretion of the 

Assistant Secretary of State for PoliticalMilitary Affairs, after consulting with 

the appropriate U.S. agencies. However, 

such an exception would be granted 

only after a full review of all 

circumstances, paying particular 

attention to the following factors: 

Whether an exception is warranted by 

overriding U.S. foreign policy or 

national security interests; whether an 

exception would further law 

enforcement concerns that are 

consistent with the foreign policy or 

national security interests of the United 

States; or whether other compelling 

circumstances exist that are consistent 

with the foreign policy or national 

security interests of the United States, 

and that do not conflict with law 

enforcement concerns. Even if 

exceptions are granted, the debarment 

continues until subsequent 

reinstatement. 

Pursuant to Section 38(g)(4) of the 

AECA and Section 127.7(c) of the ITAR, 

the following person is statutorily 

debarred: Pratt & Whitney Canada 

Corporation, 1000 boul. Marie-Victorin 

Longueuil, Quebec, Canada J4G 1A1 

(and all other Pratt & Whitney Canada 

Corporation locations); U.S. District 

Court, District of Connecticut; Case No. 

3:12CR146(WWE). 

As noted above, at the end of the 

three-year period following the date of 

this notice, the above named entity 

remains debarred unless export 

privileges are reinstated. Debarred 

persons are generally ineligible to 

participate in activity regulated under 

the ITAR (see e.g., sections 120.1(c) and 

(d), and 127.11(a)). Also, under Section 

127.1(c) of the ITAR, any person who 

has knowledge that another person is 

subject to debarment or is otherwise 

ineligible may not, without disclosure to 

and written approval from the 

Directorate of Defense Trade Controls, 

participate, directly or indirectly, in any 

export in which such ineligible person 

may benefit therefrom or have a direct 

or indirect interest therein. 

Notwithstanding the information 

above, based on overriding national 

security and foreign policy concerns 

and after a thorough review of the 

circumstances surrounding the 

conviction and a finding that the 

appropriate steps have been taken to 

mitigate law enforcement concerns, the 

Assistant Secretary for Political-Military 

Affairs has determined to approve 

specific carve-outs from the statutory 

debarment of P&W Canada for the 

following categories of authorization 

requests: 

1. Support of U.S. Government 

programs; 

2. Support of coalition Operation 

Enduring Freedom; and 

3. Support of government programs 

for NATO and Major Non-NATO Ally 

countries. 

All requests for authorizations, or use of 

exemptions, involving P&W Canada that 

fall within the scope of the specific 

carve-outs will be reviewed and action 

taken by the Directorate of Defense 

Trade Controls in the ordinary course of 

business. All requests for authorizations 

involving P&W Canada that do not fall 

within the scope of the carve-outs must 

be accompanied by a specific 

transaction exception request. Any use 

of an exemption involving P&W Canada 

that does not fall within the scope of the 

carve-outs must be preceded by the 

approval of a transaction exception 

request by the Department prior to the 

use of the exemption. The decision to 

grant a transaction exception will be 

made on a case-by-case basis after a full 

review of all circumstances. 

This notice is provided for purposes 

of making the public aware that the 

person identified above is prohibited 

from participating directly or indirectly 

in activities regulated by the ITAR, 

including any brokering activities and 

in any export from or temporary import 

into the United States of defense 

articles, related technical data, or 

defense services in all situations 

covered by the ITAR that do not fall 

within the carve-outs to the debarment. 

Specific criminal case information may 

be obtained from the Office of the Clerk 

for the U.S. District Courts mentioned 

above and by citing the court case 

number where provided. 

Dated: June 26, 2012. 

Andrew J. Shapiro, 

Assistant Secretary, Bureau of PoliticalMilitary Affairs, Department of State. 

[FR Doc. 2012–16578 Filed 7–5–12; 8:45 am] 

BILLING CODE 4710–25–P 

DEPARTMENT OF TRANSPORTATION 

Federal Highway Administration 

[Docket No. FHWA–2012–0062] 

Agency Information Collection 

Activities: Request for Comments for a 

New Information Collection 

AGENCY: Federal Highway 

Administration (FHWA), DOT. 

ACTION: Notice and request for 

comments. 


TKELLEY on DSK3SPTVN1PROD with NOTICES