[April 24, 2006 (Volume 71, Number 78)]
[Unified Agenda]
From the Federal Register Online via GPO Access [frwais.access.gpo.gov]
[DOCID:ua24ap06_045-1]
[Page 23542-23543]
COMMODITY FUTURES TRADING COMMISSION (CFTC)
_______________________________________________________________________
-----------------------------------------------------------------------
Part XLV
Commodity Futures Trading Commission
-----------------------------------------------------------------------
Semiannual Regulatory Agenda
[[Page 23542]]
COMMODITY FUTURES TRADING COMMISSION
17 CFR Ch. I
Regulatory Flexibility Agenda
AGENCY: Commodity Futures Trading Commission.
ACTION: Semiannual regulatory agenda.
_______________________________________________________________________
SUMMARY: The Commodity Futures Trading Commission, in accordance with
the requirements of the Regulatory Flexibility Act, is publishing a
semiannual agenda of significant rules that the Commission expects to
propose or promulgate over the next year. The Commission welcomes
comments from small entities and others on the agenda.
FOR FURTHER INFORMATION CONTACT: Eileen A. Donovan, Assistant Secretary
for FOIA Matters, Commodity Futures Trading Commission, 1155 21st
Street NW., Washington, DC 20581; (202) 418-5096, [email protected].
SUPPLEMENTARY INFORMATION: The Regulatory Flexibility Act, 5 U.S.C.
601, et seq. (RFA), sets forth a number of requirements for agency
rulemaking. Among other things, the RFA requires that:
Semiannually, each agency shall publish in the Federal Register
a regulatory flexibility agenda that shall contain:
(1) A brief description of the subject area of any rule that
the agency expects to propose or promulgate, which is likely to
have a significant economic impact on a substantial number of small
entities;
(2) A summary of the nature of any such rule under
consideration for each subject area listed in the agenda pursuant
to paragraph (1), the objectives and legal basis for the issuance
of the rule, and an approximate schedule for completing action on
any rule for which the agency has issued a general notice of
proposed rulemaking; and
(3) The name and telephone number of an agency official
knowledgeable about the items listed in paragraph (1). 5 U.S.C.
602(a).
The Commission has prepared an agenda of significant rules
that it presently expects may be considered during the course of
the next year. These rules may have some impact on small
entities.\1\ In this regard, section 602(d) of the RFA, 5 U.S.C.
602(d), provides: ``Nothing in [section 602] precludes an agency
from considering or acting on any matter not included in a
regulatory flexibility agenda or requires an agency to consider or
act on any matter listed in such agenda.''
The Commission's spring 2006 regulatory flexibility agenda is
set forth below.
Issued in Washington, DC on February 24, 2006, by the Commission.
Jean A. Webb,
Secretary of the Commission.
\1\ The Commission published its definition of small entity to be used
in connection with rulemaking proceedings on April 30, 1982 (47 FR
18618). Pursuant to that definition, the Commission is not required to
list many of the agenda items contained in this regulatory flexibility
agenda. See 5 U.S.C. 602(a)(1). Moreover, the Commission has previously
certified, pursuant to section 605 of the RFA, 5 U.S.C. 605, that
certain items contained in this agenda will not have a significant
economic impact on a substantial number of small entities. Accordingly,
the listing of a rule in this regulatory flexibility agenda should not,
in any event, be taken as a determination that a rule, when proposed or
promulgated, will in fact require a regulatory flexibility analysis.
However, the Commission hopes that the publication of an agenda that
includes significant rules, regardless of their potential impact on
small entities, may serve the public generally by providing an early
and meaningful opportunity to participate in and comment on the
formulation of new or revised regulations. In addition to publishing
the regulatory flexibility agenda, the Commission also makes available
to the public, on a monthly basis, a calendar and, on a weekly basis,
posts an advisory on its website (http://www.cftc.gov) that lists rules
that the Commission is considering or will consider in the near future.
Commodity Futures Trading Commission--Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
3652 Offering and Selling Security Futures Products Traded on Foreign Boards of Trade to 3038-AB75
United States Persons; Requirements for Foreign Stock Index Contracts To Qualify as
Non-Narrow-Based Indices..............................................................
3653 Interagency Proposal to Consider Alternative Forms of Privacy Notices Under the Gramm- 3038-AC04
Leach-Bliley Act......................................................................
3654 Execution of Off-Centralized Market Transactions: Regulation 1.38 and Guidance on Core 3038-AC07
Principle 9...........................................................................
3655 Eligible Commercial Entities Authorized to Trade on Exempt Commercial Markets......... 3038-AC21
3656 Exemption From Registration for Certain Foreign Persons............................... 3038-AC26
3657 Limitations on Withdrawals of Equity Capital.......................................... 3038-AC27
----------------------------------------------------------------------------------------------------------------
Commodity Futures Trading Commission--Final Rule Stage
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
3658 Market and Large Trader Reporting..................................................... 3038-AC22
----------------------------------------------------------------------------------------------------------------
[[Page 23543]]
Commodity Futures Trading Commission--Completed Actions
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
3659 Alternative Market Risk and Credit Risk Capital Charges and Amendments to Specified 3038-AC05
Foreign Currency Forward and Inventory Capital Charges for Futures Commission
Merchants and Introducing Brokers.....................................................
3660 Definition of ``Client'' of a Commodity Trading Advisor............................... 3038-AC20
3661 Technical and Clarifying Amendments to Rules for Exempt Markets, Derivatives 3038-AC23
Transaction Execution Facilities, and Designated Contract Markets.....................
----------------------------------------------------------------------------------------------------------------
_______________________________________________________________________
<DOC>
[April 24, 2006 (Volume 71, Number 78)]
[Unified Agenda]
From the Federal Register Online via GPO Access [frwais.access.gpo.gov]
[DOCID:ua24ap06_045-2]
[Page 23543]
Commodity Futures Trading Commission (CFTC) Proposed Rule Stage
_______________________________________________________________________
3652. OFFERING AND SELLING SECURITY FUTURES PRODUCTS TRADED ON FOREIGN
BOARDS OF TRADE TO UNITED STATES PERSONS; REQUIREMENTS FOR FOREIGN STOCK
INDEX CONTRACTS TO QUALIFY AS NON-NARROW-BASED INDICES
Priority: Substantive, Nonsignificant
Legal Authority: 7 USC 1 et seq, as amended by PL 106-554, 114 Stat
2763
CFR Citation: Not Yet Determined
Legal Deadline: Other, Statutory, December 21, 2001, Within one year
after the date of enactment of the Commodity Futures Modernization Act
of 2000.
Abstract: The Commission and the Securities and Exchange Commission are
required to jointly issue: (1) Rules, regulations, or orders as are
necessary and appropriate to permit the offer and sale of security
futures products traded on or subject to the rules of a foreign board
of trade to United States persons, and (2) rules and regulations that
set forth the requirements for foreign stock index contracts to qualify
as non-narrow-based indices.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 04/00/06
Regulatory Flexibility Analysis Required: No
Government Levels Affected: None
Agency Contact: Andrew V. Chapin, Special Counsel, Division of Clearing
and Intermediary Oversight, Commodity Futures Trading Commission, Three
Lafayette Centre, 1155 21st Street NW, Washington, DC 20581
Phone: 202 418-5465
Fax: 202 418-5536
Email: [email protected]
Thomas M. Leahy Jr., Associate Director for Product Review, Division of
Market Oversight, Commodity Futures Trading Commission, Three Lafayette
Centre, 1155 21st Street NW, Washington, DC 20581
Phone: 202 418-5278
Fax: 202 418-5527
Email: [email protected]
Related RIN: Related to 3038-AB78
RIN: 3038-AB75
_______________________________________________________________________
<DOC>
[April 24, 2006 (Volume 71, Number 78)]
[Unified Agenda]
From the Federal Register Online via GPO Access [frwais.access.gpo.gov]
[DOCID:ua24ap06_045-3]
[Page 23543-23544]
Commodity Futures Trading Commission (CFTC) Proposed Rule Stage
_______________________________________________________________________
3653. INTERAGENCY PROPOSAL TO CONSIDER ALTERNATIVE FORMS OF PRIVACY
NOTICES UNDER THE GRAMM-LEACH-BLILEY ACT
Priority: Substantive, Nonsignificant
Legal Authority: 7 USC 7b-2; 7 USC 12a(5); 15 USC 6801 et seq
CFR Citation: 17 CFR 160
Legal Deadline: None
Abstract: Subtitle A of the Gramm-Leach-Bliley Act (GLB Act), captioned
Disclosure of Nonpublic Personal Information (15 U.S.C. 6801 et seq.),
requires each financial institution to provide a notice of its privacy
policies and practices to its consumer customers. In general, the
privacy notices must describe a financial institution's policies and
practices with respect to disclosing nonpublic personal information
about a consumer to both affiliated and nonaffiliated third parties,
and provide a consumer a reasonable opportunity to direct the
institution not to share nonpublic personal information about the
consumer with nonaffiliated third parties. The GLB Act agencies,
including CFTC, have published substantially identical regulations to
implement GLB title V, known collectively as the ``privacy rule.'' Many
notices issued under the privacy rule were long and complex, and
difficult to compare with each other. Consequently, GLB Act agencies
are considering whether to amend the privacy rule to provide for
simpler, more useful notices. The GLB Act agencies intend to issue an
advance notice of proposed rulemaking to determine whether to propose
changes to the privacy rule, and if so, will seek further public
comment on specific programs. Six of the eight GLB Act agencies have
entered into a memorandum of understanding through which they intend to
contract with a consumer testing firm. CFTC is not a party to the MOU.
Consumer testing is ongoing.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
ANPRM 12/30/03 68 FR 75164
ANPRM Comment Period End 03/29/04
NPRM 04/00/06
Regulatory Flexibility Analysis Required: No
Small Entities Affected: Businesses
Government Levels Affected: Federal
Agency Contact: Laura M. Richards, Deputy General Counsel, Office of
General Counsel, Commodity Futures Trading Commission, Three Lafayette
Centre, 1155 21st Street NW, Washington, DC 20581
Phone: 202 418-5126
Fax: 202 418-5524
Email: [email protected]
David Jacobsohn, Counsel, Office of General Counsel, Commodity Futures
Trading Commission, Three Lafayette
[[Page 23544]]
Centre, 1155 21st Street NW, Washington, DC 20581
Phone: 202 418-5161
Fax: 202 418-5524
Email: [email protected]
RIN: 3038-AC04
_______________________________________________________________________
<DOC>
[April 24, 2006 (Volume 71, Number 78)]
[Unified Agenda]
From the Federal Register Online via GPO Access [frwais.access.gpo.gov]
[DOCID:ua24ap06_045-4]
[Page 23544]
Commodity Futures Trading Commission (CFTC) Proposed Rule Stage
_______________________________________________________________________
3654. EXECUTION OF OFF-CENTRALIZED MARKET TRANSACTIONS: REGULATION 1.38
AND GUIDANCE ON CORE PRINCIPLE 9
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 7 USC 1 et seq, as amended by PL 106-554, 114 Stat
2763
CFR Citation: 17 CFR 1; 17 CFR 38
Legal Deadline: None
Abstract: Since the Commission originally promulgated Regulation 1.38,
the Commodity Futures Modernization Act of 2000 (CFMA) was signed into
law. The CFMA, among other things, specifically expanded the allowable
transactions that could be executed off the centralized market. The
Commission has proposed amendments to its rules concerning trading off
the centralized market, including the addition of guidance on contract
market block trading rules, in light of further administrative
experience with, and consideration of, the implications of the CFMA.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 07/01/04 69 FR 39880
NPRM Comment Period End 08/30/04
Second NPRM 08/00/06
Second NPRM Comment Period End 10/00/06
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Riva Spear Adriance, Associate Deputy Director,
Division of Market Oversight, Commodity Futures Trading Commission,
Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581
Phone: 202 418-5494
Fax: 202 418-5507
Email: [email protected]
Gabrielle A. Sudik, Special Counsel, Division of Market Oversight,
Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st
Street NW, Washington, DC 20581
Phone: 202 418-5171
Fax: 202 418-5507
Email: [email protected]
RIN: 3038-AC07
_______________________________________________________________________
<DOC>
[April 24, 2006 (Volume 71, Number 78)]
[Unified Agenda]
From the Federal Register Online via GPO Access [frwais.access.gpo.gov]
[DOCID:ua24ap06_045-5]
[Page 23544]
Commodity Futures Trading Commission (CFTC) Proposed Rule Stage
_______________________________________________________________________
3655. ELIGIBLE COMMERCIAL ENTITIES AUTHORIZED TO TRADE ON EXEMPT
COMMERCIAL MARKETS
Priority: Substantive, Nonsignificant
Legal Authority: 7 USC 1 et seq, as amended by PL 106-554, 114 Stat
2763
CFR Citation: 17 CFR 36
Legal Deadline: None
Abstract: The Commission is proposing to codify existing Commission
orders applicable to: (1) Commission-registered floor brokers and floor
traders on NYMEX; and (2) International Petroleum Exchange floor or
electronic brokers and local traders and, pursuant to section 1a(11) of
the Commodity Exchange Act, designate by rule those and similarly-
situated entities to be, subject to conditions, eligible commercial
entities for the purpose of trading on exempt commercial markets.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 08/00/06
NPRM Comment Period End 09/00/06
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Duane C. Andresen, Special Counsel, Division of Market
Oversight, Commodity Futures Trading Commission, Three Lafayette
Centre, 1155 21st Street NW, Washington, DC 20581
Phone: 202 418-5492
Fax: 202 418-5527
Email: [email protected]
RIN: 3038-AC21
_______________________________________________________________________
<DOC>
[April 24, 2006 (Volume 71, Number 78)]
[Unified Agenda]
From the Federal Register Online via GPO Access [frwais.access.gpo.gov]
[DOCID:ua24ap06_045-6]
[Page 23544]
Commodity Futures Trading Commission (CFTC) Proposed Rule Stage
_______________________________________________________________________
3656. <bullet<ls-thn-eq> EXEMPTION FROM REGISTRATION FOR CERTAIN FOREIGN
PERSONS
Priority: Substantive, Nonsignificant
Legal Authority: 7 USC 6d and 6m
CFR Citation: 17 CFR 3.10(c)
Legal Deadline: None
Abstract: The Commission is proposing to amend its regulations
regarding registration to permit: (1) certain foreign firms otherwise
exempt from registration as futures commission merchants pursuant to
Commission Regulation 30.10 to advise or introduce to registered
futures commission merchants certain U.S. customers for purposes of
trading U.S. exchange-traded futures and options without having to
register in the appropriate capacity pursuant to sections 4d and 4m,
respectively, of the Commodity Exchange Act; and (2) certain foreign
firms located outside the U.S. that limit their customers to foreign
customers to clear their U.S. contract market business on an omnibus
basis through a registered futures commission merchant without having
to register as a futures commission merchant pursuant to section 4d of
the Commodity Exchange Act.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 04/00/06
NPRM Comment Period End 06/00/06
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Andrew V. Chapin, Special Counsel, Division of Clearing
and Intermediary Oversight, Commodity Futures Trading Commission, Three
Lafayette Centre, 1155 21st Street NW, Washington, DC 20581
Phone: 202 418-5465
Fax: 202 418-5536
Email: [email protected]
RIN: 3038-AC26
_______________________________________________________________________
<DOC>
[April 24, 2006 (Volume 71, Number 78)]
[Unified Agenda]
From the Federal Register Online via GPO Access [frwais.access.gpo.gov]
[DOCID:ua24ap06_045-7]
[Page 23544-23545]
Commodity Futures Trading Commission (CFTC) Proposed Rule Stage
_______________________________________________________________________
3657. <bullet<ls-thn-eq> LIMITATIONS ON WITHDRAWALS OF EQUITY CAPITAL
Priority: Substantive, Nonsignificant
Legal Authority: 7 USC 6f
CFR Citation: 17 CFR 1.12; 17 CFR 1.17
Legal Deadline: None
Abstract: The Commission is proposing to amend its regulations to
provide that the Commission may, by written order, temporarily prohibit
an FCM from carrying out planned equity withdrawal transactions that
would reduce excess
[[Page 23545]]
adjusted net capital by more than 30 percent. The proposed orders would
be based on the Commission's determination that such withdrawals could
be detrimental to the financial condition of the FCM or could affect
its ability to meet customer obligations. The proposed regulation would
be similar to SEC regulation 17 CFR 240.15c3-1(e)(3)(i).
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 04/00/06
NPRM Comment Period End 06/00/06
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Thelma Diaz, Special Counsel, Division of Clearing and
Intermediary Oversight, Commodity Futures Trading Commission, Three
Lafayette Centre, 1155 21st Street NW, Washington, DC 20581
Phone: 202 418-5137
Fax: 202 418-5536
Email: [email protected]
RIN: 3038-AC27
_______________________________________________________________________
<DOC>
[April 24, 2006 (Volume 71, Number 78)]
[Unified Agenda]
From the Federal Register Online via GPO Access [frwais.access.gpo.gov]
[DOCID:ua24ap06_045-8]
[Page 23545]
Commodity Futures Trading Commission (CFTC) Final Rule Stage
_______________________________________________________________________
3658. MARKET AND LARGE TRADER REPORTING
Priority: Substantive, Nonsignificant
Legal Authority: 7 USC 1 et seq, as amended by PL 106-554, 114 Stat
2763
CFR Citation: 17 USC 15 to 21
Legal Deadline: None
Abstract: The Commission has proposed to amend the market and large
trader reporting rules to establish a new contract reporting level for
futures and option contracts based on 3-year U.S. Treasury Notes,
clarify the application of the reporting rules to derivatives
transaction execution facilities, and adopt a reporting framework for
contracts that are exclusively self-cleared.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 12/15/05 70 FR 74246
NPRM Comment Period End 02/13/06
Final Action 04/00/06
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Bruce Fekrat, Special Counsel, Division of Market
Oversight, Commodity Futures Trading Commission, Three Lafayette
Centre, 1155 21st Street NW, Washington, DC 20581
Phone: 202 418-5578
Fax: 202 418-5527
Email: [email protected]
RIN: 3038-AC22
_______________________________________________________________________
<DOC>
[April 24, 2006 (Volume 71, Number 78)]
[Unified Agenda]
From the Federal Register Online via GPO Access [frwais.access.gpo.gov]
[DOCID:ua24ap06_045-9]
[Page 23545]
Commodity Futures Trading Commission (CFTC) Completed Actions
_______________________________________________________________________
3659. ALTERNATIVE MARKET RISK AND CREDIT RISK CAPITAL CHARGES AND
AMENDMENTS TO SPECIFIED FOREIGN CURRENCY FORWARD AND INVENTORY CAPITAL
CHARGES FOR FUTURES COMMISSION MERCHANTS AND INTRODUCING BROKERS
Priority: Substantive, Nonsignificant
CFR Citation: 17 CFR 1.17
Completed:
________________________________________________________________________
Reason Date FR Cite
________________________________________________________________________
NPRM 10/11/05 70 FR 58985
Final Action 02/02/06 71 FR 5587
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Thelma Diaz
Phone: 202 418-5137
Fax: 202 418-5536
Email: [email protected]
RIN: 3038-AC05
_______________________________________________________________________
<DOC>
[April 24, 2006 (Volume 71, Number 78)]
[Unified Agenda]
From the Federal Register Online via GPO Access [frwais.access.gpo.gov]
[DOCID:ua24ap06_045-10]
[Page 23545]
Commodity Futures Trading Commission (CFTC) Completed Actions
_______________________________________________________________________
3660. DEFINITION OF ``CLIENT'' OF A COMMODITY TRADING ADVISOR
Priority: Substantive, Nonsignificant
CFR Citation: 17 CFR 1.3(bb)
Completed:
________________________________________________________________________
Reason Date FR Cite
________________________________________________________________________
Final Action 02/24/06 71 FR 9442
Final Action Effective 03/27/06
Regulatory Flexibility Analysis Required: No
Government Levels Affected: None
Agency Contact: Barbara S. Gold
Phone: 202 418-5430
Fax: 202 418-5528
Email: [email protected]
RIN: 3038-AC20
_______________________________________________________________________
<DOC>
[April 24, 2006 (Volume 71, Number 78)]
[Unified Agenda]
From the Federal Register Online via GPO Access [frwais.access.gpo.gov]
[DOCID:ua24ap06_045-11]
[Page 23545]
Commodity Futures Trading Commission (CFTC) Completed Actions
_______________________________________________________________________
3661. TECHNICAL AND CLARIFYING AMENDMENTS TO RULES FOR EXEMPT MARKETS,
DERIVATIVES TRANSACTION EXECUTION FACILITIES, AND DESIGNATED CONTRACT
MARKETS
Priority: Substantive, Nonsignificant
CFR Citation: 17 CFR 36 to 38; 17 CFR 40
Completed:
________________________________________________________________________
Reason Date FR Cite
________________________________________________________________________
Final Action 01/12/06 71 FR 1953
Final Action Effective 02/13/06
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Donald H. Heitman
Phone: 202 418-5041
Fax: 202 418-5507
Email: [email protected]
RIN: 3038-AC23
[FR Doc. 06-2059 Filed 04-21-06; 8:45 am]
BILLING CODE 6351-01-S