Rules and Regulations. Notice of Application for Exemption under the Investment Advisers Act of 1940 (“Advisers Act”)

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BILLING CODE 7535-01-M SECURITIES AND EXCHANGE COMMISSION [Release No. IA-2590/803-190] Gates Capital Partners, LLC/Bear Creek Inc.; Notice of Application February 16, 2007. AGENCY: Securities and Exchange Commission (SEC). ACTION: Notice of Application for Exemption under the Investment Advisers Act of 1940 (“Advisers Act”). *Applicants:* Gates Capital Partners, LLC (“GCP”) and Bear Creek Inc. (“Bear Creek”). *Relevant Advisers Act Sections:* Exemption requested under section 202(a)(11)(F) from section 202(a)(11). *Summary of Application:* GCP and Bear Creek (collectively, the “Applicants”) request that the SEC issue an order declaring them and their employees acting within the scope of their employment to be persons not within the intent of section 202(a)(11), which defines the term “investment adviser.

“ *Filing Dates:* The application was filed on December 21, 2005, and was amended and restated on May 23, 2006, and on January 25, 2007. *Hearing or Notification of Hearing:* An order granting the application will be issued unless the SEC orders a hearing. Interested persons may request a hearing by writing to the SEC's Secretary and serving Applicants with a copy of the request, personally or by mail. Hearing requests should be received by the SEC by 5:30 p.m. on March 13, 2007 and should be accompanied by proof of service on Applicants, in the form of an affidavit or, for lawyers, a certificate of service.

Hearing requests should state the nature of the writer's interest, the reason for the request, and the issues contested. Persons may request notification of a hearing by writing to the SEC's Secretary. ADDRESSES: Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090. Applicant, Gates Capital Partners, LLC, 3575 Cherry Creek North Drive, Denver, Colorado 80209. Applicant, Bear Creek Inc., P.O. Box 4742, Jackson, Wyoming 83001. FOR FURTHER INFORMATION CONTACT:

Vivien Liu, Senior Counsel, or David Blass, Assistant Director, at

(202)551-6787 (Division of Investment Management, Office of Investment Adviser Regulation). SUPPLEMENTARY INFORMATION: The following is a summary of the application. The complete application may be obtained for a fee at the SEC's Public Reference Branch. Applicants' Representations 1. GCP was formed in September 2005 to provide investment advice to the Gates family by advising and managing Evergreen 37, LLC (“Evergreen”), a Wyoming limited liability company recently formed by the Family to facilitate the Family's investments, and by advising individual Family members and trusts. For purposes of this application, “Family” means: • The lineal descendants of Charles C. Gates and Hazel R. Gates and the spouses of such descendants; • Trusts established by and for the sole benefit of individual Family members; • Charitable trusts established by Charles C. Gates and Hazel R. Gates or individual Family members; • Companies wholly owned by such trusts or individual Family members; and • Future Family Investment Pools (investment pools that are exempt from the definition of “investment company” under section 3(c)(1) and section 3(c)(7) of the Investment Company Act of 1940 (“Investment Company Act”) and that are wholly owned by the Family but for the limited non-voting interest owned by a small number of senior level employees of GCP or Bear Creek who regularly provide investment advice on behalf of GCP or Bear Creek to such investment pools). 2. GCP represents that Evergreen is exempt from the definition of “investment company” under section 3(c)(1) of the Investment Company Act and is wholly owned by the Family, except for potential limited employee ownership of nonvoting interests by senior level employees of GCP. 3. GCP represents that it will act as investment adviser and sole manager of Evergreen, and its compensation will be limited to reimbursement from Evergreen of reasonable fees and out-of-pocket expenses in performing its obligations to Evergreen. 4. GCP represents that a small number of senior level employees of GCP who regularly provide investment advice on behalf of GCP to Evergreen may participate in the ownership of non-voting membership interests in Evergreen, as well as other Future Family Investment Pools. GCP represents that upon the termination of their employment, such employees may be permitted to retain their interest in Evergreen or Future Family Investment Pools but their interest would be limited to their investment at the time of termination plus any accretion or distribution on their investment. 5. Bear Creek was organized as a Wyoming corporation in 1998 to serve as trustee of trusts then in existence as well as of those to be formed in the future, created by and for the sole benefit of the Family. 6. Bear Creek previously applied for, and received in 2001, an order of the SEC pursuant to section 202(a)(11)(F) of the Advisers Act declaring that Bear Creek is a person not within the intent of the Advisers Act (Bear Creek Inc., Investment Advisers Act Release No. 1931 (March 9, 2001)). 7. Bear Creek requests additional exemptive relief in the event that it provides investment advice to Future Family Investment Pools. Bear Creek represents that a small number of its senior level employees who regularly provide investment advice on behalf of Bear Creek to Future Family Investment Pools may participate in the ownership of nonvoting membership interests in Future Family Investment Pools. Bear Creek represents that, upon the termination of their employment, such employees may be permitted to retain their interest in Future Family Investment Pools but their interest would be limited to their investment at the time of termination plus any accretion or distribution on their investment. 8. The Applicants represent that they do not hold themselves out to the public as investment advisers and do not engage in any advertising, attend any investment-related conferences as vendors, or conduct any marketing activities. Neither GCP nor Bear Creek is listed in any phone book or other directory as an investment adviser. 9. The Applicants represent that their sole clients are, and will continue to be, the Family. Applicants' Legal Analysis 1. Section 202(a)(11) of the Advisers Act defines the term “investment adviser” to mean “any person who, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or as to the advisability of investing in, purchasing, or selling securities, or who, for compensation and as a part of a regular business, issues or promulgates analyses or reports concerning securities. * * * ” Section 202(a)(11)(F) of the Advisers Act authorizes the SEC to exclude from the definition of “investment adviser” persons that are not within the intent of section 202(a)(11). 2. Section 203(b) of the Advisers Act provides several exemptions from registration under section 203(a) of the Advisers Act. GCP asserts that it does not qualify for any of the exemptions provided by section 203(b). GCP also asserts that it is not prohibited from registering with the SEC under section 203A of the Advisers Act. 3. GCP requests that the SEC declare it and its employees acting within the scope of their employment to be persons not within the intent of section 202(a)(11). GCP states that there is no public interest in requiring that they be registered under the Advisers Act because it will offer its services only to the Family. In addition, the Applicants request that the SEC provide exemptive relief under section 202(a)(11)(F) to them and their employees acting within the scope of their employment if, in the future, they manage or provide investment advice to any Future Family Investment Pools. For the SEC, by the Division of Investment Management, under delegated authority. Florence E. Harman, Deputy Secretary. [FR Doc. E7-3173 Filed 2-23-07; 8:45 am] BILLING CODE 8010-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-55292; File No. SR-Amex-2006-86] Self-Regulatory Organizations; American Stock Exchange LLC; Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment Nos. 1, 2, and 3 Thereto, Relating to the Listing and Trading of Shares of the PowerShares DB U.S. Dollar Index Bullish Fund and the PowerShares DB U.S. Dollar Index Bearish Fund February 14, 2007. I. Introduction On September 13, 2006, the American Stock Exchange LLC (“Amex” or “Exchange”) filed with the Securities and Exchange Commission (“Commission”) the proposed rule change pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”) 1 and Rule 19b-4 thereunder. 2 On November 17, 2006, Amex filed Amendment No. 1 to the proposed rule change. On December 19, 2006, Amex filed Amendment No. 2 to the proposed rule change. On January 12, 2007, Amex filed Amendment No. 3 to the proposed rule change. The proposed rule change, as amended, was published for comment in the **Federal Register** on January 24, 2007 for a 15-day comment period. 3 The Commission received no comments on the proposal. This Order approves the proposed rule change, as modified by Amendment Nos. 1, 2, and 3, on an accelerated basis. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. 3 *See* Securities Exchange Act Release No. 55110 (January 16, 2007), 72 FR 3171 (“Notice”). II. Description of the Proposal Pursuant to Commentary .07 of Amex Rule 1202, the Exchange proposes to list and trade shares of the PowerShares DB U.S. Dollar Index Bullish Fund (the “Bullish Fund”) and the PowerShares DB U.S. Dollar Index Bearish Fund (the “Bearish Fund,” and together with the Bullish Fund, the “Funds”), each of which represents a series of the DB U.S. Dollar Index Trust (the “Trust”). The shares of each of the Funds (the “Shares”) represent beneficial ownership interests in the corresponding common units of beneficial interests of the DB U.S. Dollar Index Master Bullish Fund (the “Master Bullish Fund”) and the DB U.S. Dollar Index Master Bearish Fund (the “Master Bearish Fund,” and together with the Master Bullish Fund, the “Master Funds”), respectively. Each of the Funds and each of the Master Funds are commodity pools operated by DB Commodity Services LLC (the “Managing Owner”). The Trust and the Funds will not be subject to registration and regulation under the Investment Company Act of 1940. In its proposal, the Exchange provided detailed descriptions regarding the overall investment objectives of the Funds, the calculation methodology and components of the underlying indexes, the structure and operation of the Funds, and the listing and trading of the Shares. Key features of the proposal are noted below. *The Underlying Indexes.* The overall investment objective of each of the Funds and the Master Funds is to reflect the performance of their respective benchmark index, *less* expenses, *plus* the excess, if any, of the corresponding Master Fund's interest income from its holdings of U.S. Treasury and other high-credit-quality, short-term fixed income securities over its expenses. The Bullish Fund will seek to track the “Long Index” by investing in long positions in futures contracts (“DX Contracts”) on the U.S. Dollar Index® (“USDX”), and the Bearish Fund will seek to track the “Short Index” by investing in short positions in DX Contracts on the USDX. Both the Long Index and Short Index (collectively, the “Indexes”) are designed to reflect the return from investing in the first-to-expire DX Contract. DX Contracts are traded through the FINEX currency markets of the New York Board of Trade (“NYBOT”). As discussed more fully in the Notice, the USDX is composed of six underlying foreign currencies (the “Index Currencies”), and the value of the USDX reflects a general indication of the international value of the USD by averaging the exchange rates between the U.S. Dollar (“USD”) and the Index Currencies. The use of a long position in a DX Contract in the construction of the Long Index would cause the Long Index level to rise as a result of any upward price movement in the DX Contract. Conversely, the use of a short position in a DX Contract in the construction of the Short Index would cause the Short Index level to rise as a result of any downward price movement in the DX Contract. As a result, the performance of the Long Index and Short Index would reflect any rise or fall of the USD versus the underlying basket of Index Currencies. *Creation and Redemption of Shares.* Issuances of the Shares will be made only in one or more blocks of 200,000 Shares (each such block, a “Basket”). Each of the Funds will issue and redeem Shares on a continuous basis, by or through participants that have entered into participant agreements (each, an “Authorized Participant”) with the Managing Owner at the net asset value (“NAV”) per Share next determined after an order to purchase a Basket is received in proper form. A Basket will be issued in exchange for a cash amount equal to the NAV per Share times 200,000 Shares (the “Cash Deposit Amount”). The Bank of New York (the “Administrator”) will determine the Cash Deposit Amount on each business day. An Authorized Participant that wishes to purchase a Basket must transfer the Cash Deposit Amount to the Administrator. Authorized Participants that wish to redeem a Basket will receive cash in exchange for each Basket surrendered in an amount equal to the NAV per Basket. *Availability of Information.* As set forth in the Notice, information regarding the Shares will be available through Exchange, the Index Sponsor, and various independent sources. Deutsche Bank AG London (the “Index Sponsor”) will calculate the values of the Indexes during the trading day and such values will be disseminated at least every 15 seconds through major market data vendors and the Index Sponsor's Web site. 4 The Exchange will also disseminate for each of the Funds on a per-Share basis an updated “Indicative Fund Value,” which reflects the cash required for creations and redemptions for each Fund, adjusted to reflect the price changes of the DX Contracts and the holdings of U.S. Treasury securities and other high-credit-quality, short-term fixed income securities, at least every 15 seconds during regular Amex trading hours of 9:30 a.m. to 4:15 p.m. Eastern Time (“ET”). Shortly after 4 p.m. ET each business day, the Administrator will determine the NAV for each of the Funds, and the NAV per Share for each of the Funds will be disseminated to all market participants at the same time. 5 4 Amex has represented that the Managing Owner would seek to arrange to have each Index calculated and disseminated at least every 15 seconds on a daily basis through a third party if the Index Sponsor ceases to calculate and disseminate an Index. If, however, the Managing Owner is unable to arrange the calculation and dissemination of any Index value, the Exchange will undertake to delist the Shares related to such Index. 5 The Exchange stated that if the NAV per Share for any Fund is not disseminated to all market participants at the same time, it would halt trading in the Shares of such Fund. On each business day, the Administrator will make available immediately prior to the opening of trading on Amex the most recent Cash Deposit Amount for the creation of a Basket, and the Exchange will disseminate the current value of the Cash Deposit Amount on a per-Share basis at least every 15 seconds throughout the trading day. The daily settlement prices of the DX Contracts, specific contract specifications, and delayed futures contract information on current and past trading sessions, including futures quotes and last sale information, are publicly available on NYBOT's Web site and on the Web sites of various market data vendors, news publications, automated quotation systems, or other financial information services. The Exchange also intends to disseminate on a daily basis for each of the Funds information with respect to the daily trading volume of each of the Shares, the number of Shares outstanding, the closing prices of each Fund's Shares, the corresponding NAV, and a hyperlink on its Web site to the Index Sponsor's Web site. The Web site for each of the Funds and/or the Exchange will also contain the following information:

(1)The current NAV per Share daily, the prior business day's NAV, and the reported closing price;

(2)the mid-point of the bid-ask price in relation to the NAV as of the time the NAV is calculated (the “Bid-Ask Price”);

(3)the calculation of the premium or discount of such price against such NAV;

(4)data in chart form displaying the frequency distribution of discounts and premiums of the Bid-Ask Price against the NAV, within appropriate ranges for each of the four previous calendar quarters;

(5)the prospectus; and

(6)other applicable quantitative information. The Exchange further states that each of the Funds is subject to the criteria in Commentary .07 of Amex Rule 1202, and for purposes of the initial and continued listing requirements, the Shares would be in compliance with Section 803 of the Amex *Company Guide* and Rule 10A-3 under the Act. 6 Because the Shares would trade as equity securities, the Shares would be subject to applicable Amex rules governing the trading of equity securities, including, among others, rules governing priority, parity, and precedence of orders; specialist responsibilities; account opening; and customer suitability (Amex Rule 411). 6 17 CFR 240.10A-3. III. Discussion and Commission's Findings After careful consideration, the Commission finds that the proposed rule change, as amended, is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities exchange. 7 In particular, the Commission finds that the proposal is consistent with the requirements of Section 6(b)(5) of the Act, 8 which requires, among other things, that the Exchange's rules be designed to promote just and equitable principles of trade, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and in general to protect investors and the public interest. The Commission notes that these Funds are substantially similar to other funds, the listing and trading of shares of which have previously been approved by the Commission. Such shares are currently trading pursuant to Commentary .07 to Amex Rule 1202. 9 7 In approving this proposed rule change, the Commission notes that it has considered the proposed rule's impact on efficiency, competition, and capital formation. *See* 15 U.S.C. 78c(f). 8 15 U.S.C. 78f(b)(5). 9 *See e.g.* , Securities Exchange Act Release Nos. 55029 (December 29, 2006), 72 FR 806 (January 8, 2007) (SR-Amex-2006-76) (DB Multi-Sector Commodity Trust); 54450 (September 14, 2006), 71 FR 55230 (September 21, 2006) (SR-Amex-2006-44) (PowerShares DB G10 Harvest Fund, formerly known as DB Currency Index Value Fund); and 53105 (January 11, 2006), 71 FR 3129 (January 19, 2006) (SR-Amex-2005-059) (DB Commodity Index Tracking Fund). The Commission further believes that the proposal is consistent with Section 11A(a)(1)(C)(iii) of the Exchange Act, 10 which sets forth Congress' finding that it is in the public interest and appropriate for the protection of investors and the maintenance of fair and orderly markets to assure the availability to brokers, dealers, and investors of information with respect to quotations for and transactions in securities. Key information will be disseminated at least every 15 seconds throughout the trading day, including the value of each Index 11 and the Indicative Fund Value on a per-Share basis for each Fund. The NAV of each of the Funds will be calculated once each trading day and disseminated to all market participants at the same time. In addition, daily settlement prices, futures quotes, and last-sale information for the DX Contracts will be disseminated through a variety of major market data vendors, and complete real-time data for such futures are available by subscription from such vendors. The Exchange's Web site will also disclose information regarding the Shares, including among other things, the current value of the Cash Deposit Amount for the creation of a Basket, daily trading volume, the closing price, and the number of Shares outstanding. 10 15 U.S.C. 78k-1(a)(1)(C)(iii). 11 A number of independent sources verify both the intraday and closing Index values. *See* Notice, 72 FR at 3173, note 13. In support of this proposal, the Exchange has made the following representations:

(1)Amex would rely on its existing surveillance procedures, which are adequate to monitor the trading of the Shares and to deter and detect violations of applicable rules. Specifically, the Exchange will rely on its surveillance procedures applicable to trust-issued receipts, portfolio depository receipts, and index fund shares and will incorporate and rely upon existing Amex surveillance procedures governing options and equities. In addition, Amex has in place an information sharing agreement with NYBOT, which is a member of the Intermarket Surveillance Group.

(2)The Index Sponsor has in place procedures to prevent the improper sharing of information between different affiliates, departments, and employees of the Index Sponsor. Specifically, an information barrier exists between the personnel of the Index Sponsor that calculate and reconstitute the Indexes and other personnel of the Index Sponsor, including, without limitation, the Managing Owner, employees involved in sales and trading activities, internal and external fund managers, and certain bank personnel.

(3)Amex will distribute an Information Circular to its members providing guidance with regard to the special characteristics and risks of trading this type of security, the creation and redemption procedures, applicable Amex rules, the various fees and expenses, and the prospectus delivery requirements applicable to the Funds. This Order is conditioned on Amex's adherence to the foregoing representations. The Commission finds good cause to approve the proposed rule change, as modified by Amendment Nos. 1, 2, and 3 thereto, prior to the thirtieth day after publication for comment in the **Federal Register** pursuant to Section 19(b)(2) of the Act. 12 The Shares are similar to certain trust-issued receipts, the listing and trading of which have previously been approved by the Commission, and do not appear to present any new regulatory concerns. 13 Furthermore, the Commission did not receive any comments on the proposal. Accelerating approval will allow the Shares to trade on Amex without undue delay and should generate additional competition in the market for such products. 12 15 U.S.C. 78s(b)(2). 13 *See supra* note 9. IV. Conclusion *It is therefore ordered,* pursuant to Section 19(b)(2) of the Act, 14 that the proposed rule change (SR-Amex-2006-86), as modified by Amendment Nos. 1, 2, and 3, be, and it hereby is, approved on an accelerated basis. 14 15 U.S.C. 78s(b)(2). For the Commission, by the Division of Market Regulation, pursuant to delegated authority. 15 15 17 CFR 200.30-3(a)(12). Nancy M. Morris, Secretary. [FR Doc. E7-3158 Filed 2-23-07; 8:45 am] BILLING CODE 8010-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-55311; File No. SR-ISE-2007-15] Self-Regulatory Organizations; International Securities Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Extension of a Pilot Period to Increase Position Limits and Exercise Limits for Equity Options and Options on the Nasdaq-100 Tracking Stock February 16, 2007. 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 on February 13, 2007, the International Securities Exchange, Inc. (“ISE” or “Exchange”) filed with the Securities and Exchange Commission (“Commission”) the proposed rule change as described in Items I and II below, which Items have been substantially prepared by ISE. The Exchange has filed the proposal as a “non-controversial” rule change pursuant to Section 19(b)(3)(A) of the Act 3 and Rule 19b-4(f)(6) thereunder, 4 which renders it effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. 3 15 U.S.C. 78s(b)(3)(A). 4 17 CFR 240.19b-4(f)(6). I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change ISE proposes to extend the time period for Exchange Rule 412 and Rule 414 position and exercise limits pilot program for equity option contracts and options on the Nasdaq-100 Index Tracking Stock (“QQQQ”) (“Pilot Program”). The text of the proposed rule change is available at ISE, the Commission's Public Reference Room, and *http://www.iseoptions.com.* II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, ISE included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in Sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The Pilot Program provides for an increase to the standard position and exercise limits for equity option contracts and for options on QQQQs. 5 The Pilot Program, after being extended on prior occasions, 6 is set to expire on March 1, 2007. 7 Specifically, the Pilot Program increased the applicable position and exercise limits for equity options and options on the QQQQ to the following levels: 5 *See* Securities Exchange Act Release No. 51295 (March 2, 2005), 70 FR 11292 (March 8, 2005) (SR-ISE-2005-14) (“Pilot Program Notice”). 6 *See* Securities Exchange Act Release Nos. 53345 (February 22, 2006), 71 FR 10579 (March 1, 2006) (SR-ISE-2006-10); and 52265 (August 15, 2005), 70 FR 48996 (August 22, 2005) (SR-ISE-2005-39). 7 *See* Securities Exchange Act Release No. 54335 (August 18, 2006), 71 FR 50954 (August 28, 2006) (SR-ISE-2006-47). Current equity option contract limit 8 Pilot program equity option contract limit 13,500 25,000 22,500 50,000 31,500 75,000 60,000 200,000 75,000 250,000 Current QQQQ option contract limit Pilot program QQQQ option contract limit 300,000 contracts 900,000 contracts 8 Except when the Pilot Program is in effect. The purpose of the proposed rule change is to extend the Pilot Program for an additional six-month period, until September 1, 2007. The Exchange believes that extending the Pilot Program for this additional period is warranted due to the positive feedback from members and for the reasons cited in the original rule filing that proposed the adoption of the Pilot Program. 9 Additionally, the Exchange represents that it has not experienced any problems or difficulties relating to the Pilot Program since its inception. For these reasons, the Exchange requests that the Commission extend the Pilot Program until September 1, 2007. 9 *See* Pilot Program Notice, *supra* note 5. 2. Statutory Basis The Exchange believes that its proposal is consistent with Section 6(b) of the Act 10 in general, and furthers the objective of Section 6(b)(5) of the Act 11 in particular, in that it is designed to promote just and equitable principles of trade and to protect investors and the public interest. 10 15 U.S.C. 78f(b). 11 15 U.S.C. 78f(b)(5). B. Self-Regulatory Organization's Statement on Burden on Competition The proposed rule change does not impose any burden on competition. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange has not solicited, and does not intend to solicit, comments on this proposed rule change. The Exchange has not received any unsolicited written comments from members or other interested parties. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the forgoing rule change does not:

(1)Significantly affect the protection of investors or the public interest;

(2)impose any significant burden on competition; and

(3)become operative for 30 days after the date of this filing, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A) of the Act 12 and Rule 19b-4(f)(6) thereunder. 13 12 15 U.S.C. 78s(b)(3)(A). 13 17 CFR 240.19b-4(f)(6). A proposed rule change filed under 19b-4(f)(6) normally may not become operative prior to 30 days after the date of filing. 14 However, Rule 19b-4(f)(6)(iii) 15 permits the Commission to designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has requested that the Commission waive the 30-day operative delay. The Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and in the public interest because it will allow the Pilot Program to continue uninterrupted. 16 14 17 CFR 240.19b-4(f)(6)(iii). In addition, Rule 19b-4(f)(6)(iii) requires that a self-regulatory organization submit to the Commission written notice of its intent to file the proposed rule change, along with a brief description and text of the proposed rule change, at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. ISE has satisfied the five-day pre-filing requirement. 15 *Id.* 16 For the purposes only of waiving the operative delay, the Commission has considered the proposed rule's impact on efficiency, competition, and capital formation. *See* 15 U.S.C. 78c(f). At any time within 60 days of the filing of the proposed rule change, the Commission may summarily abrogate such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the Act. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change 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 e-mail to *rule-comments@sec.gov.* Please include File No. SR-ISE-2007-15 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, Station Place, 100 F Street, NE., Washington, DC 20549-1090. All submissions should refer to File No. SR-ISE-2007-15. This file number should be included on the subject line if e-mail 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 inspection and copying in the Commission's Public Reference Room. Copies of such filing will also be available for inspection and copying at the principal office of ISE. 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 available publicly. All submissions should refer to File No. SR-ISE-2007-15 and should be submitted on or before March 19, 2007. For the Commission, by the Division of Market Regulation, pursuant to delegated authority. 17 17 17 CFR 200.30-3(a)(12). Jill M. Peterson, Assistant Secretary. [FR Doc. E7-3157 Filed 2-23-07; 8:45 am] BILLING CODE 8010-01-P SMALL BUSINESS ADMINISTRATION Reporting and Recordkeeping Requirements Under OMB Review AGENCY: Small Business Administration. ACTION: Notice of reporting requirements submitted for OMB review. SUMMARY: Under the provisions of the Paperwork Reduction Act (44 U.S.C. Chapter 35), agencies are required to submit proposed reporting and recordkeeping requirements to OMB for review and approval, and to publish a notice in the **Federal Register** notifying the public that the agency has made such a submission. DATES: Submit comments on or before March 28, 2007. If you intend to comment but cannot prepare comments promptly, please advise the OMB Reviewer and the Agency Clearance Officer before the deadline. *Copies:* Request for clearance (OMB 83-1), supporting statement, and other documents submitted to OMB for review may be obtained from the Agency Clearance Officer. ADDRESSES: Address all comments concerning this notice to: Agency Clearance Officer, Jacqueline White, Small Business Administration, 409 3rd Street, SW., 5th Floor, Washington, DC 20416; and OMB Reviewer, Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Washington, DC 20503. FOR FURTHER INFORMATION CONTACT: Jacqueline White, Agency Clearance Officer,

(202)205-7044. SUPPLEMENTARY INFORMATION: *Title:* Alternative Creditworthiness Assessment. *No's:* 2294. *Frequency:* On Occasion. *Description of Respondents:* Personnel that assist in the processing of loan application and disbursement of loan funds to victims of Hurricanes Katrina, Rita and Wilma. *Responses:* 1,849. *Annual Burden:* 8. Jacqueline White, Chief, Administrative Information Branch. [FR Doc. E7-3150 Filed 2-23-07; 8:45 am] BILLING CODE 8025-01-P SMALL BUSINESS ADMINISTRATION Reporting and Recordkeeping Requirements Under OMB Review AGENCY: Small Business Administration. ACTION: Notice of Reporting Requirements Submitted for OMB Review. SUMMARY: Under the provisions of the Paperwork Reduction Act (44 U.S.C. Chapter 35), agencies are required to submit proposed reporting and recordkeeping requirements to OMB for review and approval, and to publish a notice in the **Federal Register** notifying the public that the agency has made such a submission. DATES: Submit comments on or before March 28, 2007. If you intend to comment but cannot prepare comments promptly, please advise the OMB Reviewer and the Agency Clearance Officer before the deadline. *Copies:* Request for clearance (OMB 83-1), supporting statement, and other documents submitted to OMB for review may be obtained from the Agency Clearance Officer. ADDRESSES: Address all comments concerning this notice to: Agency Clearance Officer, Jacqueline White, Small Business Administration, 409 3rd Street, SW., 5th Floor, Washington, DC 20416; and OMB Reviewer, Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Washington, DC 20503. FOR FURTHER INFORMATION CONTACT: Jacqueline White, Agency Clearance Officer,

(202)205-7044. SUPPLEMENTARY INFORMATION: *Title:* Form of Detached Assignment for U.S. Small Business Administration Loan Poll or Guaranteed Interest Certificate. *No:* 1088. *Frequency:* On Occasion. *Description of Respondents:* Secondary Market Participants. *Responses:* 6,500. *Annual Burden:* 9,750. *Title:* Training Program Evaluation. *No:* 20. *Frequency:* On Occasion. *Description of Respondents:* Small Business Clients. *Responses:* 200,000. *Annual Burden:* 40,000. *Title:* SBDC Program & Financial Reports. *No:* SF-269 and SF-272. *Frequency:* On Occasion. *Description of Respondents:* SBDC Directors. *Responses:* 114. *Annual Burden:* 7,524. Jacqueline White, Chief, Administrative Information Branch. [FR Doc. E7-3161 Filed 2-23-07; 8:45 am] BILLING CODE 8025-01-P DEPARTMENT OF STATE [Public Notice: 5701] 60-Day Notice of Proposed Information Collection: Recording, Reporting, and Data Collection Requirements Under 22 CFR Part 62, the Exchange Visitor Program—Student and Exchange Visitor Information System (SEVIS); Forms DS-3036, DS-3037, DS-7000 (SEVIS); OMB No. 1405-0147 ACTION: Notice of request for public comments. SUMMARY: The Department of State is seeking Office of Management and Budget

(OMB)approval for the information collection described below. The purpose of this notice is to allow 60 days for public comment in the **Federal Register** preceding submission to OMB. We are conducting this process in accordance with the Paperwork Reduction Act of 1995. • *Title of Information Collection:* Recording, Reporting, and Data Collection Requirements Under 22 CFR Part 62, the Exchange Visitor Program—Student and Exchange Visitor Information System (SEVIS). • *OMB Control Number:* OMB No. 1405-0147. • *Type of Request:* Revision of a Currently Approved Collection. • *Originating Office:* Office of Exchange Coordination and Designation—ECA/EC/AG and ECA/EC/PS. • *Form Number:* Form DS-3036, DS-3037, DS-7000 (SEVIS). • *Respondents:* U.S. government, and public and private organizations wishing to become designated sponsors and Department of State designated sponsors. • *Estimated Number of Respondents:* 190,200. • *Estimated Number of Responses:* 1,620,375. • *Average Hours Per Response:* 7 hours. • *Total Estimated Burden:* 1,321,087 hours. • *Frequency:* On occasion. • *Obligation to Respond:* Required to Obtain or Retain a Benefit. DATES: The Department will accept comments from the public up to 60 days from February 26, 2007. ADDRESSES: You may submit comments identified by any of the following methods: • *Persons with access to the Internet may also view this notice and provide comments by going to the regulations.gov web site at: http://www.regulations.gov/index.cfm.* • *Mail (paper, disk, or CD-ROM submissions):* U.S. Department of State, Office of Exchange Coordination and Designation, SA-44, 301 4th Street, SW., Room 734, Washington, DC 20547. • *E-mail: jexchanges@state.gov* You must include the DS form number (if applicable), information collection title, and OMB control number in any correspondence. FOR FURTHER INFORMATION CONTACT: Stanley S. Colvin, Director, Office of Exchange Coordination and Designation, U.S. Department of State, SA-44, 301 4th Street, SW., Room 734, Washington, DC 20547; or e-mail at *jexchanges@state.gov.* SUPPLEMENTARY INFORMATION: *We are soliciting public comments to permit the Department to:* • Evaluate whether the proposed information collection is necessary for the proper performance of our functions. • Evaluate the accuracy of our estimate of the burden of the proposed collection, including the validity of the methodology and assumptions used. • Enhance the quality, utility, and clarity of the information to be collected. • Minimize the reporting burden on those who are to respond, including the use of automated collection techniques or other forms of technology. *Abstract of proposed collection:* The collection is the continuation of information collected and needed by the Bureau of Educational and Cultural Affairs in administering the Exchange Visitor Program (J-Visa) under the provisions of the Mutual Educational and Cultural Exchange Act, as amended. The forms have been revised to include the addition of a new category of Intern. *Methodology:* Access to Forms DS-3036 and DS-3037 are found in the Student and Exchange Visitor Information System (SEVIS), *http://www.ice.gov/sevis/.* Dated: February 8, 2007. Stanley S. Colvin, Director, Office of Exchange Coordination & Designation, Bureau of Educational and Cultural Affairs, Department of State. [FR Doc. E7-3210 Filed 2-23-07; 8:45 am] BILLING CODE 4710-05-P DEPARTMENT OF STATE [Public Notice: 5700] 30-Day Notice of Proposed Information Collection: DS-2028, Overseas Schools Grant Status Report, OMB 1405-0033 ACTION: Notice of request for public comment and submission to OMB of proposed collection of information. SUMMARY: The Department of State has submitted the following information collection request to the Office of Management and Budget

(OMB)for approval in accordance with the Paperwork Reduction Act of 1995. • *Title of Information Collection:* Overseas Schools Grant Status Report. • *OMB Control Number:* OMB 1405-0033. • *Type of Request:* Extension of a Currently Approved Collection. • *Originating Office:* Bureau of Administration, A/OPR/OS. • *Form Number:* DS-2028. • *Respondents:* overseas school grantees. • *Estimated Number of Respondents:* 185. • *Estimated Number of Responses:* 185. • *Average Hours Per Response:* 15 minutes. • *Total Estimated Burden:* 46 hours. • *Frequency:* annually. • *Obligation to Respond:* required to obtain or retain a benefit. DATES: Submit comments to the Office of Management and Budget

(OMB)for up to 30 days from February 26, 2007. ADDRESSES: Direct comments and questions to Katherine Astrich, the Department of State Desk Officer in the Office of Information and Regulatory Affairs at the Office of Management and Budget (OMB), who may be reached at 202-395-4718. You may submit comments by any of the following methods: • *E-mail: kastrich@omb.eop.gov.* You must include the DS form number, information collection title, and OMB control number in the subject line of your message. • *Mail (paper, disk, or CD-ROM submissions):* Office of Information and Regulatory Affairs, Office of Management and Budget, 725 17th Street, NW., Washington, DC 20503. • *Fax:* 202-395-6974. FOR FURTHER INFORMATION CONTACT: You may obtain copies of the proposed information collection and supporting documents from Keith Miller, Department of State, Office of Overseas Schools, A/OPR/OS, Room H328, SA-1, Washington, DC 20522-0132, who may be reached on 202-261-8200 or *millerkd2@state.gov.* SUPPLEMENTARY INFORMATION: *We are soliciting public comments to permit the Department to:* • Evaluate whether the proposed information collection is necessary to properly perform our functions. • Evaluate the accuracy of our estimate of the burden of the proposed collection, including the validity of the methodology and assumptions used. • Enhance the quality, utility, and clarity of the information to be collected. • Minimize the reporting burden on those who are to respond. *Abstract of proposed collection:* The Office of Overseas Schools of the Department of State (A/OPR/OS) is responsible for determining that adequate educational opportunities exist at Foreign Service Posts for dependents of U.S. Government personnel stationed abroad, and for assisting American-sponsored overseas schools to demonstrate U.S. educational philosophy and practice. The information gathered provides the technical and professional staff of A/OPR/OS the means by which obligations, expenditures and reimbursements of the grant funds are monitored to ensure the grantee is in compliance with the terms of the grant. *Methodology:* Information is collected via electronic and paper submission. Dated: February 7, 2007. Peggy Philbin, Executive Director, Bureau of Administration, Department of State. [FR Doc. E7-3212 Filed 2-23-07; 8:45 am] BILLING CODE 4710-24-P DEPARTMENT OF TRANSPORTATION Federal Aviation Administration Noise-Exposure Map Notice: Receipt of Noise-Compatibility Program and Request for Review for Great Falls International Airport, Great Falls, MT AGENCY: Federal Aviation Administration (FAA), DOT. ACTION: Notice. SUMMARY: The Federal Aviation Administration

(FAA)announces its determination that the noise-exposure maps

(NEM)submitted by the Director of Aviation for Great Falls International Airport under the provisions of 49 U.S.C. 47501 *et seq.* (Aviation Safety and Noise Abatement Act) and 14 CFR Part 150, are in compliance with applicable requirements. The FAA also announces that it is reviewing a proposed noise-compatibility program, submitted for Great Falls International Airport under Part 150, in conjunction with the noise-exposure map. This program will be approved or disapproved on or before August 9, 2007. DATES: *Effective Dates:* The effective data of the FAA's determination on the noise-exposure maps and of the start of its review of the associated noise-compatibility program is February 13, 2007. The public comment period ends April 13, 2007. FOR FURTHER INFORMATION CONTACT: Gary Gates, Federal Aviation Administration, Helena Airports District Office, 2725 Skyway Drive, Suite 2, Helena MT 59602, telephone 406-449-5271. Comments on the proposed noise-compatibility program also should be submitted to the above office. SUPPLEMENTARY INFORMATION: This notice announces the FAA's finding that the noise-exposure maps submitted for Great Falls International Airport are in compliance with applicable requirements of Part 150, effective February 13, 2007. Further, the FAA is reviewing that airport's proposed noise-compatibility program, which will be approved or disapproved on or before August 13, 2007. This notice also announces the availability of this program for public review and comment. Under 49 U.S.C., 47503 (the Aviation Safety and Noise Abatement Act, hereinafter referred to as “the Act”), an airport operator may submit to the FAA noise-exposure maps that meet applicable regulations and depict non-compatible land uses, as of the date of submission of such maps; a description of projected aircraft operations; and the ways in which such operations will affect such maps. The Act requires such maps to be developed in consultation with interested and affected parties in the local community, government agencies, and persons using the airport. An airport operator who has submitted noise-exposure maps that are found by the FAA to be in compliance with the requirements of Federal Aviation Regulations (FAR), Part 150, promulgated pursuant to the Act, may submit to the FAA for approval a noise-compatibility program that sets forth measures the operator has taken or proposes to take to reduce existing non-compatible uses and prevent the introduction of additional non-compatible uses. The Director of Aviation for the Great Falls International Airport submitted to the FAA on February 2, 2007, noise-exposure maps, descriptions and other documentation, produced during the Great Falls International Airport FAR Part 150 Study, dated September 2006. It was requested that the FAA review this material as the noise-exposure maps, as described in section 47503 of the Act, and that the noise-mitigation measures, to be implemented jointly by the airport and surrounding communities, be approved as a noise-compatibility program under section 47504 of the Act. The FAA has completed its review of the noise-exposure maps and related descriptions submitted by the Director of Aviation for the Great Falls International Airport. The specific documentation determined to constitute the noise-exposure maps includes the following from the *Great Falls International Airport Part 150 Noise-compatibility Study Update:* • Supplemental Chapter (pages xxi-xxv) describes updates to Forecasts of Aviation Activity. • B Section describes prior forecasts of Aviation Activity. • Section C describes the input data used to develop the existing and future contours. • Section D describes Land Use Analysis. • Section F describes the noise abatement alternative evaluation. • Page F.16 includes revisions to Land Use and Noise Contour Map Analysis. • Figure F.7, page F.19—Existing

(2005)Existing Noise-exposure Map. • Figure G-1, page G.3—Future

(2016)Noise-exposure Map. • Section G summarizes Actions and Recommendations. • Section H—Public and Airport User Consultation Summary. • Appendix 2—Public Hearing Comments and Responses. • Appendix 5—Comments Outside the Public Hearing Comment Period. The FAA has determined that these maps for Great Falls International Airport are in compliance with applicable requirements. This determination is effective on February 13, 2007. The FAA's determination on an airport operator's noise-exposure maps is limited to a finding that the maps were developed in accordance with the procedures contained in appendix A of FAR Part 150. Such determination does not constitute approval of the applicant's data, information or plans, or a commitment to approve a noise-compatibility program or to fund the implementation of that program. If questions arise concerning the precise relationship of specific properties to noise-exposure contours depicted on a noise-exposure map submitted under section 47503 of the Act, it should be noted that the FAA is not involved in any way in determining the relative locations of specific properties with regard to the depicted noise contours, or in interpreting the noise-exposure maps to resolve questions concerning, for example, which properties should be covered by the provisions of section 47506 of the Act. These functions are inseparable from the ultimate land use control and planning responsibilities of local government. These local responsibilities are not changed in any way under Part 150 or through the FAA's review of noise-exposure maps. Therefore, the responsibility for the detailed overlaying of noise-exposure contours onto the map depicting properties on the surface rests exclusively with the airport operator that submitted those maps, or with those public agencies and planning agencies with which consultation is required under section 47503 of the Act. The FAA has relied on the certification by the airport operator, under section 150.21 of FAR Part 150, that the statutorily required consultation has been accomplished. The FAA has formally received the noise-compatibility program for Great Falls International Airport, also effective on February 13, 2007. Preliminary review of the submitted material indicates that it conforms to the requirements for the submittal of noise-compatibility programs, but requires further review prior to approval or disapproval of the program. The formal review period, limited by law to a maximum of 180 days, will be completed on or before August 13, 2007. The FAA's detailed evaluation will be conducted under the provisions of 14 CFR Part 150, § 150.33. The primary considerations in the evaluation process are whether the proposed measures may reduce the level of aviation safety, create an undue burden on interstate or foreign commerce, or be reasonably consistent with obtaining the goal of reducing existing non-compatible land uses and preventing the introduction of additional non-compatible land uses. Interested persons are invited to comment on the proposed program with specific reference to these factors. The FAA will consider, to the extent practicable, all comments, other than those properly addressed to local land-use authorities. Copies of the noise-exposure maps, the FAA's evaluation of the maps, and the proposed noise-compatibility program are available for examination at the following locations: Federal Aviation Administration, Airports Division, 1601 Lind Avenue, SW.; Suite 315, Renton, Washington 98057-3356. Federal Aviation Administration, Helena Airports District Office, 2725 Skyway Drive, Suite 2, Helena, MT 59602. Great Falls International Airport, 2800 Terminal Drive, Great Falls, MT 59404. Issued in Renton, Washington, on February 13, 2007. Donna P. Taylor, Manager, Airports Division, Northwest Mountain Region. [FR Doc. 07-861 Filed 2-23-07; 8:45 am]

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