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February 20, 2013, Alert No. 2,526.
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SEC Announces That Its Examination Priorities Include Crowd Funding and IT Systems

2/21. The Securities and Exchange Commission (SEC) released a document [13 pages in PDF] titled "Examination Priorities for 2013". Among the many priorities for the SEC's National Examination Program (NEP) are crowd funding under the JOBS Act, and information technology (IT) systems.

Crowd Funding and Tech Start Ups. The 112th Congress enacted HR 3606 [ LOC | WW], the "Jumpstart Our Business Startups Act" or "JOBS Act" in early 2012. It is Public Law No. 112-106. It reduces securities regulation for small and start up companies.

Its purpose is to incent the creation of new companies, and facilitate their raising of capital, particularly in the technology sector. It contains many provisions. Title III is titled the "Capital Raising Online While Deterring Fraud and Unethical Non-Disclosure Act of 2012" or "CROWDFUND Act".

The CROWDFUND Act also requires that the SEC write implementing regulations "Not later than 270 days after the date of enactment of this Act".

The SEC has failed to comply with this statutory requirement. The SEC is acting as though it possesses Constitutional authority to delay or veto Acts of Congress.

The just released SEC document states that "Upon approval of a final rule relating to the JOBS Act, which creates a new exemption from registration under the Securities Act for qualified ``crowd funding´´ transactions, the staff intends to conduct reviews of entities participating in the crowd funding business, as appropriate." (At page 8.)

This document does not address the circumstance that when the SEC conducts a review, this imposes costs upon the business. Yet, many of the businesses that are likely to avail themselves of crowd funding opportunities will be starts ups without the resources to pay for these costs.

The SEC document also states that "Where feasible, the staff will also review changes in advertising practices related to the JOBS Act, which requires modification of the rules restricting general solicitations." (At page 4.)

This is a reference to Title II of the JOBS Act, regarding "Access to Capital for Job Creators". It requires the SEC to amend its rules within 90 days to provide that the prohibition against general solicitation or general advertising does not apply to certain securities offerers.

It amends Section 4 of the Securities Act of 1933, which is codified at 15 U.S.C. § 77d, to, among other things, remove the regulatory ban that prevents small privately held companies from using advertisements to solicit investors.

Here too, the SEC has not yet amended its rules, and has therefore failed to comply with its statutory obligations.

IT Systems. This document states the SEC will also focus on IT based trading systems.

It begins that "The capital markets have experienced an ongoing revolution in technology over several decades, and the increasing complexity, interconnectedness, and speed fostered by technology is a continual challenge to market participants and regulators. A number of market events over the past two years have underscored how important it is for the Commission and other regulators to stay current on new trading technologies and their implications for maintaining transparent, stable markets that do not give inappropriate advantages to some market participants over others." (At page 2.)

It states that "In 2013, the NEP may conduct examinations on governance and supervision of information technology systems for topics such as operational capability, market access, and information security, including risks of system outages, and data integrity compromises that may adversely affect investor confidence. Among other things, the NEP hopes that these examinations will help the industry and the Commission to better understand operational information technology risks and potential methods to help mitigate and effectively manage those risks." (At pages 2-3.)

In addition, "The staff intends to address certain trading risk areas, with particular focus on high frequency trading, algorithmic trading, proper controls around the use of technology, alternative trading systems and order routing practices." (At page 7.)

This document also states that SEC "staff has observed a series of technology system problems that have caused firms' significant losses and eroded customer confidence in the markets. These technology system errors have occurred at both the exchange level as well as at multiple broker-dealers. These events have raised questions as to the effectiveness of broker-dealers’ controls and oversight over technology systems and supervision of personnel, as well as the adequacy of firms' protocols to address systems that are acting counter to expectations, and the robustness of firms' risk management procedures". (At pages 8.)

SEC Chairman Addresses Regulatory Uses of IT

2/19. Securities and Exchange Commission (SEC) Commissioner Elisse Walter gave a speech at American University law school in Washington DC titled "Harnessing Tomorrow's Technology for Today's Investors and Markets".

Elisse WalterWalter (at right) holds one of the Democratic seats on the Commission. She has been Chairman since former Chairman Mary Schapiro left the SEC at the end of December. However, President Obama's intent is to designate Mary Jo White Chairman when she is confirmed by the Senate.

She said that the SEC is "making an unprecedented investment in the cutting-edge technology we need to protect investors in today's blindingly fast and extraordinarily complex markets", and "to help make investors and other market participants smarter".

Te SEC is a large agency, with about 4,000 employees, that has a long history of failing to detect and stop large scale long running securities fraud, as for example, in the case of Bernard Madoff.

Walter discussed how the SEC will require regulated entities to build information technology (IT) systems and massive and merged databases that the SEC will then rely upon to monitor markets, public companies, investors, and others. She also discussed how the SEC is expanding its regulation of the private sector's use of IT to automate trading.

In contrast, she said nothing about crowd funding, the JOBS Act, making it easier for start up tech companies to raise capital online, or how IT can facilitate participation in equity markets by small investors.

She said nothing about the status of eXtensible Business Reporting Language (XBRL) in digital SEC filings, interactive data, or the extent to which this is enabling investors to more easily analyze corporate data, compare companies, and make more informed investment decisions.

Also, Walter said nothing about the SEC's misguided investigation of Netflix for using social media to communicate company information.

In Walter's vision, IT in private hands is something that needs to be regulated. In government hands, it can become a useful tool for expanded regulation, monitoring and surveillance. But, in her view, IT is not something that can make equity markets more efficient, more open to small and start up businesses, or more accessible to small investors.

MIDAS and CAT Databases. She addressed at some length the SEC's ambitious plans to rely up the IT based MIDAS and CAT programs.

She said that the SEC's Market Information Data Analytics System (MIDAS), which is an aggregation of trading information data, will enable the SEC "to examine the fundamental mechanics of today's high-speed markets".

She said the the SEC's new rule [351 pages in PDF] that national securities exchanges and other self-regulating financial organizations, SROs, maintain Consolidated Audit Trail (CAT) systems for use by the SEC could be "the most important regulatory development in my lifetime".

This yet to be implemented CAT rule is intended to provide the SEC with non-public data, including individual orders from individual accounts.

That is, the SEC has mandated that SROs develop IT based systems that would provide the SEC access to customer and order event information across all markets, from the time of order inception through routing, cancellation, modification, or execution. The SEC wants one single huge database that collects and merges data from all of these CAT systems.

Rules for Computer Based Trading. Walter next discussed the SEC's recent activities regarding regulation of the use of IT to automate trading. She said that "I have asked the staff to accelerate work on a regulation aimed at improving systems compliance and integrity -- something we are calling Reg SCI".

The SEC has long had an Automation Review Policy (ARP). Walter wants a rule.

She stated that she wants "to transform those voluntary guidelines into mandatory rules", that would mandate "standards" for "the core technology of the exchanges, significant alternative trading systems and clearing agencies".

NEP Algorithm. Next, she said that the SEC has "created a risk-based targeting algorithm for our National Examination Program that analyzes information obtained from SEC filings and other sources to identify the firms most likely to be putting investors at risk."

API Model. Next, she discussed the SEC's shadowy Aberrational Performance Inquiry (API) program. She said only that it is "an analytical model that uses performance data to identify hedge fund advisers worthy of further review". Just what this model is, or how it is implemented, the SEC does not disclose.

She asserted that "Ponzi schemers, whose funds tend to claim suspiciously high and consistent returns, can be identified and singled out for scrutiny".

Scrutiny may uncover fraud, which is bad for markets. It may also uncover superlative performance, which is good for markets and investors. Such scrutiny also imposes regulatory costs upon funds singled out by the SEC's API program. It may thus result in imposing significant costs upon, and therefore reducing the prevalence of, legitimate outperformers.

Electronic Bluesheet Analysis Platform. She also stated that the SEC has an "Automated Bluesheet Analysis Platform" (ABAP).

Blue sheets were once forms on blue paper that the SEC sent to clearing firms requesting certain information. Firms mailed back responses. Later, the SEC made these requests electronically, without blue sheets. But, the name stuck.

Walter said that ABAP is a "proprietary tool" that "links records of significant company news -- like an acquisition announcement -- with trading data to help investigators identify suspicious trading patterns".

Software Based Audio Surveillance. Walter also said that the SEC is listening to audio recording of, for example, "conversations between brokers and their customers".

Moreover, the SEC its using "an audio-searching technology that allows phonetic searches".

And this: "like a wiretap that lets the cop stay on the beat while the bad guy's phone calls are monitored, it can allow them to be many more places at once."

Netflix Sued Over Hastings' Facebook Posting

2/19. The Rosenfarb Law Firm filed a complaint [23 pages in PDF] in the U.S. District Court (NDCal) against Netflix and others alleging violation of federal securities laws in connection a Facebook posting by Netflix CEO Reed Hastings on July 3, 2012.

Nominally, the plaintiff is Martin Schulthes. They seek class action status to represent all purchasers of Netflix stock between July 3 and July 24, 2012, inclusive. Netflix announced its results for the second quarter on July 24.

Hastings wrote in Facebook on July 3 that "Netflix monthly viewing exceeded one billion hours for the first time ever in June". The gist of the complaint is that this was false and misleading, and deceived the market, not because it was literally false, but because he did not also disclose other information, and because this mislead analysts and investors that subscriber growth was greater that it actually was. Moreover, the complaint alleges, paid subscriptions to the Netflix streaming service are correlated with total viewing hours.

The complaint alleges that the Netflix stock price jumped up immediately after Hastings made his statement on Facebook on July 3. The complaint further alleges that the Netflix stock priced jumped down immediately after the release of the second quarter results. Hence, purchasers in this time period were injured.

The two count complaint alleges securities fraud in violation of Section 10b of the Exchange Act, and SEC Rule 10b5 thereunder.

The complaint also alleges individual liability of CEO Reed Hasting and CFO David Wells under Section 20 of the Exchange Act.

The Securities and Exchange Commission (SEC) launched an investigation into the same posting in December of 2012. See, story titled "The SEC Strikes Again" in TLJ Daily E-Mail Alert No. 2,486, December 8, 2012.

Netflix disclosed in a Form 8-K in December that the SEC is investigating whether there was a violation of the SEC's outdated Regulation FD.

This case is Martin Schulthes v. Netflix Inc., Reed Hastings and David Wells, U.S. District Court for the Northern District of California, D.C. No. 3:13-cv-00712-EMC, Judge Edward Chin presiding. Jorge Amador signed the complaint.

People and Appointments

2/21. Larry Landis (Indiana Utility Regulatory Commission) and Nikki Hall (South Carolina Public Service Commission) were named Co-Chairs of the National Association of Regulatory Utility Commission's (NARUC) Washington Action program, the federal lobbying and advocacy arm of the NARUC. They will replace Philip Jones (Washington Utilities and Transportation Commission), who was recently elected NARUC President, and Kevin Gunn (Missouri Public Service Commission). See, NARUC release.

2/21. TechAmerica announced in a release that Kevin Callahan has joined the TechAmerica State Government Affairs team as the Director of the Northeast Region.

2/20. Former Rep. Jesse Jackson (D-IL) pled guilty in the U.S. District Court (DC) to conspiracy to commit wire fraud, mail fraud and false statements, in connection with his diversion of campaign contributions to personal use. See, Federal Bureau of Investigation (FBI) release.

2/19. The National Telecommunications and Information Administration (NTIA) announced forty organizations to be represented on the First Responder Network Authority's Public Safety Advisory Committee (PSAC). See, NTIA release.

More News

2/21. The Department of Homeland Security (DHS) announced in a release that it has launched an initiative titled "National Initiative for Cybersecurity Careers and Studies" (NICCS).

2/20. The Government Accountability Office (GAO) released a report [51 pages in PDF] titled "Information Security: Actions Needed by Census Bureau to Address Weaknesses". It finds that at the Department of Commerce's (DOC) Census Bureau (CB) "significant weaknesses in access controls and other information security controls exist that impair its ability to ensure the confidentiality, integrity, and availability of the information and systems supporting its mission". As a result, CB data and systems are at risk of "unauthorized access, disclosure, modification, or loss".

2/20. Google announced in a release the March 15, 2013 is the deadline to submit applications for its "Google Policy Fellowships".

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In This Issue
This issue contains the following items:
 • SEC Announces That Its Examination Priorities Include Crowd Funding and IT Systems
 • SEC Chairman Addresses Regulatory Uses of IT
 • Netflix Sued Over Hastings' Facebook Posting
 • People and Appointments
 • More News
Washington Tech Calendar
New items are highlighted in red.
Friday, February 22

The House will not meet. It will next meet at 2:00 PM on February 25.

The Senate will not meet. It will next meet at 2:00 PM on February 25.

Supreme Court conference day. See, Supreme Court calendar.

President Obama will meet in Washington DC with the Prime Minister of Japan, Shinzo Abe. See, White House news office notice.

12:00 NOON - 1:15 PM. The American Bar Association (ABA) will host a teleconferenced panel discussion titled "IP Fundamentals for Antitrust Attorneys". The speakers will be Sean Gates (Morrison Foerster), David Balto (Law Offices of David Balto), Kristin Cooklin (Crowell & Moring), and Edward Mathias (Axinn Veltrop Harkrider). Free. No CLE credits. See, notice.

4:00 - 4:45 PM. The Prime Minister of Japan, Shinzo Abe, will give a speech titled "Japan is Back". Registration to attend in person is closed. However, the event will be webcast live. See, notice. Location: Center for Strategic and International Studies.

Day one of a two day event hosted by the Practicing Law Institute (PLI) titled "SEC Speaks 2013". The speakers will include the SEC Commissioners. Among the topics to be addressed by panels are implementation of HR 3606 [LOC | WW], the "Jumpstart Our Business Startups Act of 2012" or "JOBS Act" and the value of XBRL and structured data to investors. Prices vary. CLE credits. See, notice. For more information, contact Laura Shields at 212-824-5797 or lshields at pli dot edu. Location: Ronald Reagan Building and International Trade Center, 1300 Pennsylvania Ave., NW.

Saturday, February 23

Day two of a two day event hosted by the Practicing Law Institute (PLI) titled "SEC Speaks 2013". The speakers will include the SEC Commissioners. Among the topics to be addressed by panels are implementation of the JOBS Act and the value of XBRL and structured data to investors. Prices vary. CLE credits. See, notice. For more information, contact Laura Shields at 212-824-5797 or lshields at pli dot edu. Location: Ronald Reagan Building and International Trade Center, 1300 Pennsylvania Ave., NW.

Sunday, February 24

58th birthday of Steve Jobs.

Monday, February 25

The House will meet at 2:00 PM.

The Senate will meet at 2:00 PM.

9:30 AM. The U.S. Court of Appeals (DCCir) will hear oral argument in Comcast v. FCC, App. Ct. No. 12-1337. This is a challenge to the Federal Communications Commission's (FCC) Memorandum Opinion and Order (MOO) in the matter of the Tennis Channel's complaint against Comcast. This MOO is FCC 12-78 in MB Docket No. 10-204 and File No. CSR-8258-P. See also, story titled "FCC Asserts Broad MVPD Program Carriage Authority" in TLJ Daily E-Mail Alert No. 2,412, July 26, 2012. And see, FCC brief. This case is the third of three on the schedule. Judges Kavanaugh, Edwards and Williams will preside. Location: USCA Courtroom, 5th floor, Prettyman Courthouse, 333 Constitution Ave., NW.

10:00 - 11:30 AM. The Copyright Office (CO) will host a webcast and teleconferenced event titled "The Orphan Works Problem: Recent Developments, Proposed Legislation, and Alternative Solutions". This pertains to the CO's open proceeding on orphan works. See, story titled "Copyright Office Issues Notice of Inquiry on Orphan Works" in TLJ Daily E-Mail Alert No. 2,468, November 2, 2012. The speakers will include Karyn Clagget, the CO's Associate Register of Copyrights and Director of Policy & International Affairs, who is responsible for this proceeding. The other participants will be Marco Giorello (European Commission), June Besek (Columbia Law School), Kevin Smith (Duke University Libraries), and Jennifer Urban (UC Berkeley law school). The price for the general public is $195. Prices for others are less. CLE credits. The American Bar Association (ABA) states that this is an ABA event. See, ABA notice. See also, CO's original notice in the Federal Register, Vol. 77, No. 204, October 22, 2012, at Pages 64555-64561, and extension notice in the FR, Vol. 77, No. 231, November 30, 2012 at Page 71452. And see, initial comments. The extended deadline to submit initial comments was February 4. The extended deadline to submit reply comments is March 4, 2013.

10:30 AM - 12:00 NOON. The Center for Strategic and International Studies (CSIS) will host a discussion of the book [320 pages, Amazon] titled "Rise of China vs. the Logic of Strategy". The speakers will be the author, Edward Lutwak, and Michael Green (CSIS) and Christopher Johnson (CSIS). See, CSIS notice. Location: CSIS, 1800 K St., NW.

12:15 - 1:30 PM. The Federal Communications Bar Association's (FCBA) Intellectual Property Committee will host a brown bag lunch. The topic will be patent infringement litigation. The speakers will be Bill Bradley (Roylance Abrams) and Tim Simeone (Wiltshire & Grannis). Free. Location: Wiltshire Grannis, 1200 18th St., NW.

Day one of a three day event hosted by the Department of Energy (DOE) titled "ARPA-E Energy Innovation Summit". On February 25 from 4:30 to 5:30 PM there will be a panel discussion titled "Get Smart about IP: Pros, Cons and Costs of Your Patent Strategy". The speakers will include Robert Atkinson (Information Technology and Innovation Foundation). See, conference web site. Location: Gaylord National Hotel and Convention Center, 201 Waterfront Street National Harbor, MD.

Deadline to submit initial comments to the Federal Communications Commission (FCC) in response to its Notice of Proposed Rule Making (NPRM) regarding implementing allocation decisions from the World Radiocommunication Conference held in Geneva in 2007 (WRC-07) regarding spectrum between 108 MHz and 20.2 GHz, and changing service rules for this spectrum. The FCC adopted this NPRM on November 15, 2012, and released the text on November 19. It is FCC 12-140 in ET Docket No. 12-338. See, notice in the Federal Register, Vol. 77, No. 248, December 27, 2012, at Pages 76250-76287.

Tuesday, February 26

10:00 AM. The House Science Committee's (HSC) Subcommittee on Technology and Subcommittee on Research will hold a joint hearing titled "Cyber R&D Challenges and Solutions". The witnesses will be Michael Barrett (PayPal), Frederick Chang (21CT, Inc.), and Terry Benzel (USC Information Sciences Institute). See, notice. Location: Room 2318, Rayburn Building.

10:00 AM - 12:00 NOON. The Senate Banking Committee (SBC) will hold a hearing titled "The Semiannual Monetary Policy Report to the Congress". The witness will be Ben Bernanke (Chairman of the Federal Reserve Board). See, notice. Location: Room 106, Dirksen Building.

10:00 AM. Secretary of Homeland Security Janet Napolitano will give a speech titled "State of America's Homeland Security". Webcast by Brookings Institution. See, notice. Location: Brookings, 1775 Massachusetts Ave., NW.

10:00 AM - 3:00 PM. The Public Knowledge (PK) will host an event titled "2013 PK Policy Symposium". There will be panels titled "Data Caps", "Future of Video", "Copyright Reform", and "Digital First Sale". See, notice and registration page. Location: Room SVC201-00, Capitol Visitor Center.

2:00 PM. The House Foreign Affairs Committee's (HFAC) Subcommittee on Asia and the Pacific will hold a hearing titled "The Rebalance to Asia: Why South Asia Matters (Part I)". The witnesses will be Robert Blake (Department of State) and Joseph Yun (Department of State). See, notice. Location: Room 2172, Rayburn Building.

2:00 - 3:30 PM. The Brookings Institution (BI) will host a panel discussion titled "How Do Government Restrictions Harm International Online Trade and Commerce?". The speakers will be Stanford McCoy (Assistant U.S. Trade Representative for Intellectual Property and Innovation), Jonathan McHale (Deputy Assistant U.S. Trade Representative for Telecommunications and Electronic Commerce Policy), Matthew Yglesias (Slate Magazine), Jake Colvin (National Foreign Trade Council), Allan Friedman (BI), and Joshua Meltzer (BI). Webcast. See, notice. Location: Location: BI, 1775 Massachusetts Ave., NW.

2:30 PM. The Senate Intelligence Committee (SIC) will hold a closed hearing on undisclosed topics. See, notice. Location: Room 219, Hart Building.

Deadline to submit initial comments to the Federal Communications Commission (FCC) in response to its Notice of Proposed Rulemaking (NPRM) regarding IP Captioned Telephone Service. This item is FCC 13-13 in CG Docket Nos. 13-24 and 03-123. The FCC adoptd this item on January 24, 2013, and released the text on January 25. See, notice in the Federal Register, Vol. 78, No. 24, February 5, 2013, at Pages 8090-8096.

Wednesday, February 27

CANCELLED. 5:30 - 7:00 PM. The Institute for Policy Innovation (IPI) will host a reception in advance of its February 28 event titled "5th Annual Communications Summit".

9:00 AM - 5:00 PM. Day one of a two day meeting of the Department of Homeland Security's (DHS) Homeland Security Information Network Advisory Committee (HSINAC). See, notice in the Federal Register Vol. 78, No. 23, February 4, 2013, at Pages 7797-7798. Location: Ronald Reagan International Trade Center, 1300 Pennsylvania Ave., NW.

9:30 AM. The House Oversight and Government Reform Committee (HOGRC) will hold a hearing titled "Time to Reform Information Technology Acquisition: The Federal IT Acquisition Reform Act". Location: Room 2154, Rayburn Building.

10:00 AM. The House Appropriations Committee's (HAC) Subcommittee on the Legislative Branch will hold a hearing on the budget for the Library of Congress. The witness will be James Billington. No webcast. See, notice. Location: Room HT-2, Capitol Building.

10:30 AM. The House Commerce Committee's (HCC) Subcommittee on Communications and Technology will hold a hearing titled "Is the Broadband Stimulus Working?". The witnesses will be __. See, notice. Location: Room 2322, Rayburn Building.

12:00 NOON - 1:30 PM. The DC Bar Association will host a panel discussion titled "What Intellectual Property Attorneys Need to Know About the New gTLD Program". The speakers will be Scott Harlan (Steptoe & Johnson), Brian Winterfeldt (Steptoe & Johnson), and Danny Awdeh (Finnegan). The price to attend ranges from $15 to $25. No CLE credits. Closed to reporters. See, notice. For more information, call 202-626-3488. Location: Steptoe & Johnson, 1330 Connecticut, Ave., NW.

2:00 PM. The Senate Judiciary Committee (SJC) will hold a hearing on the nomination of Jane Kelly to be a Judge of the U.S. Court of Appeals (8thCir). Webcast. See, notice. Location: Room 226, Dirksen Building.

Deadline to submit initial comments to the Federal Communications Commission (FCC) in response to its Public Notices (PNs) regarding development of the forward looking cost model for Connect America Phase II. These PNs are DA 12-1561, DA 12-1687, DA 12-2011, DA 12-2029, and DA 13-70 in WC Docket Nos. 10-90 and 05-337. See, notice in the Federal Register, Vol. 78, No. 18, January 28, 2013, at Pages 5765-5767.

Thursday, February 28

CANCELLED. 9:00 AM - 1:00 PM. The Institute for Policy Innovation (IPI) will host an event titled "5th Annual Communications Summit". Free. Open to the public. Lunch will be served. See, notice and registration page. Location: Reserve Officers Association, 5th Floor, One Constitution Ave., NE.

9:00 AM - 2:00 PM. Day two of a two day meeting of the Department of Homeland Security's (DHS) Homeland Security Information Network Advisory Committee (HSINAC). See, notice in the Federal Register Vol. 78, No. 23, February 4, 2013, at Pages 7797-7798. Location: Ronald Reagan International Trade Center, 1300 Pennsylvania Ave., NW.

10:00 AM. The Senate Judiciary Committee (SJC) will hold an executive business meeting. The agenda includes consideration of the nomination of David Medine to be Chairman of the Privacy and Civil Liberties Oversight Board, and four judicial nominees, William Orrick (USDC/NDCal), Nelson Roman (USDC/SDNY), Shelly Dick (USDC/MDLa), and Sheri Chappell (USDC/MDFl). See, notice. Webcast. Location: Room 226, Dirksen Building.

12:00 NOON - 1:30 PM. The National Economists Club (NEC) will host a lunch. The speaker will be Michel Lind (New America Foundation), author of the book titled "In Land of Promise: An Economic History of the United States". Price: $16-$25. No webcast. See, notice. Location: Chinatown Garden Restaurant, 618 H St., NW.

2:30 PM. The Senate Intelligence Committee (SIC) will hold a closed hearing on undisclosed topics. See, notice. Location: Room 219, Hart Building.

6:00 - 8:00 PM. The New America Foundation (NAF) will host a discussion of the book [368 pages, Amazon] titled "Captive Audience: The Telecom Industry and Monopoly Power in the New Gilded Age". The speakers will be the author, Susan Crawford (Cardozo law school), and Sacha Meinrath (NAF). See, notice. Location: NAF, Suite 400, 1899 L St., NW.

6:00 - 8:15 PM. The Federal Communications Bar Association's (FCBA) Video Programming and Distribution Committee will host an event titled "The 1992 Cable Act: 20 Years Later". The speakers will include Toni Bush (Skadden Arps), Paul Glist (Davis Wright Tremaine), Seth Davidson (Edwards Wildman Palmer), Jim Casserly (Willkie Farr & Gallagher), Howard Symons (Mintz Levin), Diane Burstein (NCTA), and Loretta Polk (NCTA). No webcast. CLE credits. Prices vary. See, notice. Reservations and cancellations are due by 12:00 NOON on February 27. Location: Wiley Rein, 1776 K St., NW.

5:00 PM. Deadline to submit 2012 DART Royalty Claims Forms to the Copyright Royalty Board (CRB). See, online claims form.

Friday, March 1

Supreme Court conference day. See, Supreme Court calendar.

12:00 NOON - 2:00 PM. The Technology Policy Institute (TPI) will host a panel discussion titled "The Spectrum Crunch: Causes and Solutions". The speakers will be Coleman Bazelon (Brattle Group), William Lehr (MIT), Gregory Rosston (Stanford Institute for Economic Policy Research), Scott Wallsten (TPI), Lawrence White (New York University business school), and Thomas Lenard (TPI). Free. Open to the public. Lunch will be served. No CLE credits. See, notice. Location: Room B-338, Rayburn Building, Capitol Hill.

Deadline to submit comments to the Department of Justice's (DOJ) Antitrust Division regarding its proposed settlement with Penguin in its Sherman Act action against Apple and five e-book publishers. See, stories titled "DOJ Settles With Penguin in E-Books Antitrust Action" in TLJ Daily E-Mail Alert No. 2,494, December 19, 2012, and "DOJ Publishes Second Tunney Act Notice in Apple E-Books Antitrust Case" in TLJ Daily E-Mail Alert No. 2,500, December 31, 2012. See also, Tunney Act notice in the Federal Register, Vol. 77, No. 250, December 31, 2012, at Pages 77094-77111.

5:00 PM. Deadline to submit certification letters to the Department of Commerce's (DOC) National Institute of Standards and Technology (NIST) regarding participation in the "National Cybersecurity Center of Excellence Secure Exchange of Electronic Health Information Demonstration Project". See, notice in the Federal Register, Vol. 78, No. 10, January 15, 2013, at Pages 2953-2954.

Extended deadline to submit reply comments to the Federal Communications Commission (FCC) in response to its Fifth Notice of Proposed Rulemaking [24 pages in PDF] related to its outdated media ownership regulatory regime, and its commercial broadcast ownership reporting requirements and FCC Form No. 323. The FCC adopted this NPRM on October 15, 2009. The FCC again seeks comments. This NPRM is FCC 09-92 in MB Docket Nos. 07-294, 06-121, 02-277, and 04-228, and MM Docket Nos. 01-235, 01-317, 00-244. See, notice in the Federal Register, Vol. 78, No. 10, January 15, 2013, at Pages 2925-2934. See also, January 15 Public Notice [2 pages in PDF], DA 13-56.

Deadline to submit reply comments to the Federal Communications Commission (FCC) in response to its Sixth Further Notice of Proposed Rulemaking [27 pages in PDF] related to its outdated media ownership regulatory regime. This NPRM seeks comments on proposals to increase FCC data collection burdens. The FCC adopted this item on December 21, 2012, and released the text on January 3, 2013. It is FCC 12-166 in MB Docket No. 07-294. See, notice in the Federal Register, Vol. 78, No. 10, January 15, 2013, at Pages 2925-2934. See also, January 15 Public Notice [2 pages in PDF], DA 13-56.

Deadline to submit initial comments to the Federal Communications Commission (FCC) in response to its Third Further Notice of Proposed Rule Making (3rdFNPRM) regarding 121.5 MHz emergency locator transmitters (ELTs). This item is FCC 13-2 in WT Docket No. 01-289. The FCC adopted this item on January 7, 2013, and released the text on January 8. See, notice in the Federal Register, Vol. 78, No. 20, January 30, 2013, at Pages 6276-6278.