Re-Opening of Comment Period for Asset-Backed Securities Release

Federal Register / Vol. 79, No. 40 / Friday, February 28, 2014 / Proposed Rules 11361 are specifically invited on the overall regulatory, aeronautical, economic, environmental, and energy-related aspects of the proposal. Communications should identify both docket numbers and be submitted in triplicate to the address listed above. Commenters wishing the FAA to acknowledge receipt of their comments on this notice must submit with those comments a self-addressed, stamped postcard on which the following statement is made: ‘‘Comments to Docket No. FAA–2013–0595/Airspace Docket No. 13–ACE–10.’’ The postcard will be date/time stamped and returned to the commenter. Availability of NPRMs An electronic copy of this document may be downloaded through the Internet at http://www.regulations.gov. Recently published rulemaking documents can also be accessed through the FAA’s Web page at http:// www.faa.gov/airports_airtraffic/air_ traffic/publications/airspace_ amendments/. You may review the public docket containing the proposal, any comments received and any final disposition in person in the Dockets Office (see ‘‘ADDRESSES’’ section for address and phone number) between 9:00 a.m. and 5:00 p.m., Monday through Friday, except Federal holidays. An informal docket may also be examined during normal business hours at the office of the Central Service Center, 2601 Meacham Blvd., Fort Worth, TX 76137. Persons interested in being placed on a mailing list for future NPRMs should contact the FAA’s Office of Rulemaking (202) 267–9677, to request a copy of Advisory Circular No. 11–2A, Notice of Proposed Rulemaking Distribution System, which describes the application procedure. The Proposal This action proposes to amend Title 14, Code of Federal Regulations (14 CFR), Part 71 by modifying Class E airspace extending upward from 700 feet above the surface at Albion Municipal Airport, Albion, NE, for standard instrument approach procedures at the airport. Airspace reconfiguration is necessary due to the decommissioning of the Alaby NDB and the cancellation of the NDB approach. The segment southeast of the airport would now be within 2.6 miles each side of the 159° bearing from the airport. Controlled airspace is necessary for the safety and management of IFR operations at the airport. Class E airspace areas are published in Paragraph 6005 of FAA Order 7400.9X, dated August 7, 2013 and effective September 15, 2013, which is incorporated by reference in 14 CFR 71.1. The Class E airspace designation listed in this document would be published subsequently in the Order. The FAA has determined that this proposed regulation only involves an established body of technical regulations for which frequent and routine amendments are necessary to keep them operationally current. It, therefore, (1) is not a ‘‘significant regulatory action’’ under Executive Order 12866; (2) is not a ‘‘significant rule’’ under DOT Regulatory Policies and Procedures (44 FR 11034; February 26, 1979); and (3) does not warrant preparation of a Regulatory Evaluation as the anticipated impact is so minimal. Since this is a routine matter that will only affect air traffic procedures and air navigation, it is certified that this rule, when promulgated, will not have a significant economic impact on a substantial number of small entities under the criteria of the Regulatory Flexibility Act. The FAA’s authority to issue rules regarding aviation safety is found in Title 49 of the U.S. Code. Subtitle 1, Section 106 describes the authority of the FAA Administrator. Subtitle VII, Aviation Programs, describes in more detail the scope of the agency’s authority. This rulemaking is promulgated under the authority described in Subtitle VII, Part A, Subpart I, Section 40103. Under that section, the FAA is charged with prescribing regulations to assign the use of airspace necessary to ensure the safety of aircraft and the efficient use of airspace. This regulation is within the scope of that authority as it would amend controlled airspace at Albion Municipal Airport, Albion, NE. Environmental Review This proposal will be subject to an environmental analysis in accordance with FAA Order 1050.1E, ‘‘Environmental Impacts: Policies and Procedures’’ prior to any FAA final regulatory action. List of Subjects in 14 CFR Part 71 Airspace, Incorporation by reference, Navigation (air). The Proposed Amendment In consideration of the foregoing, the Federal Aviation Administration proposes to amend 14 CFR Part 71 as follows: PART 71—DESIGNATION OF CLASS A, B, C, D, AND E AIRSPACE AREAS; AIR TRAFFIC SERVICE ROUTES; AND REPORTING POINTS ■ 1. The authority citation for part 71 continues to read as follows: Authority: 49 U.S.C. 106(g); 40103, 40113, 40120; E.O. 10854, 24 FR 9565, 3 CFR, 1959– 1963 Comp., p. 389. § 71.1 [Amended] ■ 2. The incorporation by reference in 14 CFR 71.1 of FAA Order 7400.9X, Airspace Designations and Reporting Points, dated August 7, 2013, and effective September 15, 2013, is amended as follows: Paragraph 6005: Class E Airspace areas extending upward from 700 feet or more above the surface of the earth.

ACE NE E5 Albion, NE [Amended] Albion Municipal Airport, NE (Lat. 41°43′43″ N., long. 98°03′21″ W.) That airspace extending upward from 700 feet above the surface within a 6.5-mile radius of Albion Municipal Airport, and within 2.6 miles each side of the 159° bearing from the airport extending from the 6.5-mile radius to 7 miles southeast of the airport. Issued in Fort Worth, TX on February 2, 2014. Kent M. Wheeler, Manager, Operations Support Group, ATO Central Service Center. [FR Doc. 2014–04467 Filed 2–27–14; 8:45 am] BILLING CODE 4901–13–P SECURITIES AND EXCHANGE COMMISSION 17 CFR Parts 200, 229, 230, 232, 239, 240, 243, and 249 [Release Nos. 33–9552; 34–71611; File No. S7–08–10] RIN 3235–AK37 Re-Opening of Comment Period for Asset-Backed Securities Release AGENCY: Securities and Exchange Commission ACTION: Re-opening of comment period. SUMMARY: The Securities and Exchange Commission is re-opening the comment period on two releases, Asset-Backed Securities, Securities Act Release No. 33–9117 (Apr. 7, 2010), 75 FR 23328 (the ‘‘2010 ABS Proposing Release’’) and Re-Proposal of Shelf Eligibility Conditions for Asset-Backed Securities, Securities Act Release No. 33–9244 (July 26, 2011), 76 FR 47948 (the ‘‘2011 ABS Re-Proposing Release’’). The VerDate Mar<15>2010 16:27 Feb 27, 2014 Jkt 232001 PO 00000 Frm 00017 Fmt 4702 Sfmt 4702 E:\FR\FM\28FEP1.SGM 28FEP1 emcdonald on DSK67QTVN1PROD with PROPOSALS

11362 Federal Register / Vol. 79, No. 40 / Friday, February 28, 2014 / Proposed Rules 1See Asset-Backed Securities, Release No. 33– 9117 (Apr. 7, 2010) [75 FR 23328] (the ‘‘2010 ABS Proposing Release’’). 2See Re-Proposal of Shelf Eligibility Conditions for Asset-Backed Securities, Release No. 33–9244 (July 26, 2011) [76 FR 47948] (the ‘‘2011 ABS Re￾Proposing Release’’). 3See letters from Ally Financial Inc. et al dated Aug. 2, 2010 submitted in response to the 2010 ABS Proposing Release, Ally Financial Inc. et al dated Oct. 13, 2011 submitted in response to the 2011 ABS Re-Proposing Release, and Ally Financial Inc. et al dated Aug. 3, 2012 submitted in response to the 2011 ABS Re-Proposing Release (‘‘VABSS IV’’) (urging the Commission ‘‘to consider whether loan￾level data (or even grouped data) needs to be made publicly available or could be made available to investors and other legitimate users in a more limited manner, such as through a limited access Web site’’). See also letters from Consumer Data Industry Association dated Aug. 2, 2010 submitted in response to the 2010 ABS Proposing Release (suggesting that the Commission require parties that want to access the data on EDGAR register to use the data, acknowledge the sensitive nature of the data and agree to maintain its confidentiality) and Epicurus Institute dated Aug. 1, 2010 submitted in response to the 2010 ABS Proposing Release (stating that they believe ‘‘that the prospectus should contain a hypertext link (with instructions for accessing a Web site to obtain the data) . . . [and only] prospective investors should have traceable access to the data, and that they never have the opportunity to download . . . raw data in any format’’). 4See, e.g., letter from VABSS IV. 5See Memorandum from the Commission’s Division of Corporation Finance (dated February 25, 2014), which is available on the Commission’s Internet Web site at http://www.sec.gov/comments/ s7-08-10/s70810.shtml. Commission is re-opening the comment period to permit interested persons to comment on an approach for the dissemination of potentially sensitive asset-level data. This approach is discussed in a staff memorandum included in the public comment file. DATES: Comments should be received on or before March 28, 2014. 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 email to rule-comments@ sec.gov. Please include File Number S7– 08–10 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 to Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. All submissions should refer to File Number S7–08–10. This file number should be included on the subject line if email 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 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. 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: Rolaine S. Bancroft, Senior Special Counsel or Robert Errett, Special Counsel, in the Office of Structured Finance at (202) 551–3850, Division of Corporation Finance, U.S. Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–3628. SUPPLEMENTARY INFORMATION: In 2010, the Commission proposed changes to the offering, disclosure, and reporting requirements for asset-backed securities (‘‘ABS’’).1 Among other things, the Commission proposed to require that, with some exceptions, prospectuses for public offerings of asset-backed securities and ongoing Exchange Act reports contain specified asset-level information about each of the assets in the pool in a standardized tagged data format. The 2010 ABS Proposing Release was published for comment in the Federal Register on May 3, 2010, and the initial comment period closed on August 2, 2010. In July 2010, subsequent to the publication of the 2010 ABS Proposing Release, Congress passed the Dodd￾Frank Wall Street Reform and Consumer Protection Act (the ‘‘Dodd-Frank Act’’), which required the Commission to prescribe several ABS-related rules. Some of the mandated rules were reflected in the 2010 ABS Proposing Release, while others were not. After considering the additional Dodd-Frank Act requirements, and considering comments received in connection with the 2010 ABS Proposing Release, the Commission re-proposed portions of the 2010 ABS Proposing Release in July 2011 seeking additional comment on asset-level disclosure provisions, and comment on Section 942(b) of the Dodd￾Frank Act, which requires the Commission to adopt regulations to require asset-level information.2 The 2011 ABS Re-Proposing Release was published for comment in the Federal Register on August 5, 2011, and the initial comment period closed on October 4, 2011. We received comments in response to the proposals and requests for comment recommending that, among other things, because certain potentially sensitive data would form part of the required asset-level disclosures, the asset-level information be provided by means other than public dissemination on EDGAR.3 For example, we received comments suggesting that information that may raise individual privacy concerns could be provided to investors through a limited-access Web site rather than through public dissemination of this information on EDGAR.4 The staff has prepared a memorandum summarizing additional information about the use of Web sites in the ABS market as a means to disseminate asset-level and other offering information.5 The memorandum describes one potential method to address privacy concerns related to the dissemination of potentially sensitive asset-level data. This method would require issuers to make asset-level information available to investors and potential investors through a Web site that would allow issuers to restrict access to information as necessary to address privacy concerns. The Commission is considering this method and therefore re-opening the comment period to permit interested parties to comment on the staff memorandum, which has been included in the comment file, addressing these issues. The comment period will be re-opened for thirty days to allow comment on all aspects of the approach, including the benefits and costs of and reasonable alternatives to such an approach, for issuers to make asset-level data directly available to investors and potential investors, taking into account the possible sensitive nature of such data. Dated: February 25, 2014. By the Commission. Elizabeth M. Murphy, Secretary. [FR Doc. 2014–04433 Filed 2–27–14; 8:45 am] BILLING CODE 8011–01–P VerDate Mar<15>2010 16:27 Feb 27, 2014 Jkt 232001 PO 00000 Frm 00018 Fmt 4702 Sfmt 9990 E:\FR\FM\28FEP1.SGM 28FEP1 emcdonald on DSK67QTVN1PROD with PROPOSALS