[December 11, 2006 (Volume 71, Number 237)]
[Unified Agenda]
From the Federal Register Online via GPO Access [frwais.access.gpo.gov]
[DOCID: f:ua061045.wais]

[Page 74126-74131]

Commodity Futures Trading Commission


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Part XLV








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Semiannual Regulatory Agenda

[[Page 74126]]

COMMODITY FUTURES TRADING COMMISSION (CFTC)

_______________________________________________________________________

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, Acting Secretary of
the Commission, Commodity Futures Trading Commission, 1155 21st Street
NW., Washington, DC 20581, (202) 418-5096, edonovan@cftc.gov.

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 fall 2006 regulatory flexibility agenda is set
forth below.

Issued in Washington, DC on September 25, 2006, by the Commission.

 Eileen A. Donovan,

Acting 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--Prerule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
3726        Exemption from Federal Speculative Position Limits....................................    3038-AC36
----------------------------------------------------------------------------------------------------------------


                            Commodity Futures Trading Commission--Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
3727        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..............................................................
3728        Interagency Proposal To Consider Alternative Forms of Privacy Notices Under the Gramm-    3038-AC04
            Leach-Bliley Act......................................................................
3729        Execution of Off-Centralized Market Transactions: Regulation 1.38 and Guidance on Core    3038-AC07
            Principle 9...........................................................................
3730        Exemption From Registration for Certain Foreign Persons...............................    3038-AC26
3731        Debt Securities Conforming Amendments.................................................    3038-AC31
----------------------------------------------------------------------------------------------------------------


[[Page 74127]]


                             Commodity Futures Trading Commission--Final Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
3732        Limitations on Withdrawals of Equity Capital..........................................    3038-AC27
3733        Conflicts of Interest in Self-Regulation and Self-Regulatory Organizations............    3038-AC28
3734        Electronic Filing of Notices of Exemption or Exclusion Under Part 4 of the                3038-AC33
            Commission's Regulations..............................................................
3735        Introducing Broker Electronic Filing of Annual Reports................................    3038-AC34
3736        Advertising by Commodity Pool Operators, Commodity Trading Advisors, and the              3038-AC35
            Principals Thereof....................................................................
----------------------------------------------------------------------------------------------------------------


                             Commodity Futures Trading Commission--Completed Actions
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
3737        Eligible Commercial Entities Authorized To Trade on Exempt Commercial Markets.........    3038-AC21
3738        Market and Large Trader Reporting.....................................................    3038-AC22
3739        Joint Final Rules: Application of the Definition of Narrow-Based Security Index to        3038-AC32
            Debt Securities Indexes and Security Futures on Debt Securities.......................
----------------------------------------------------------------------------------------------------------------

_______________________________________________________________________
Commodity Futures Trading Commission (CFTC)               Prerule Stage

_______________________________________________________________________

3726. [bull] EXEMPTION FROM FEDERAL SPECULATIVE POSITION LIMITS

Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.

Legal Authority: 7 USC 6a

CFR Citation: 17 CFR 150

Legal Deadline: None

Abstract: In recent years, the Commission has received requests for
exemption or relief from Federal speculative position limits, as
various entities seek to gain commodity price exposure by tracking an
index that contains, among other things, futures contracts that are
subject to such limits. Commission staff is considering different
approaches for providing relief or exemption to commodity-index-related
futures positions from Federal speculative position limits.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

ANPRM                           06/00/07

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Donald H. Heitman, Senior Special Counsel, Division of
Market Oversight, Commodity Futures Trading Commission, Three Lafayette
Centre, 1155 21st Street NW., Washington, DC 20581
Phone: 202 418-5041
Fax: 202 418-5507
Email: dheitman@cftc.gov

RIN: 3038-AC36
_______________________________________________________________________
Commodity Futures Trading Commission (CFTC)         Proposed Rule Stage

_______________________________________________________________________

3727. 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                            12/00/06

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Elizabeth L. Ritter, Deputy General Counsel, Office of
General Counsel, Commodity Futures Trading Commission, Three Lafayette
Centre, 1155 21st Street NW., Washington, DC 20581
Phone: 202 418-5052
Fax: 202 418-5524

[[Page 74128]]

Email: eritter@cftc.gov

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: tleahy@cftc.gov

Related RIN: Related to 3038-AB78
RIN: 3038-AB75
_______________________________________________________________________

3728. 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                            12/00/06

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: lrichards@cftc.gov

RIN: 3038-AC04
_______________________________________________________________________

3729. 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                     02/00/07
Second NPRM Comment Period End  04/00/07

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: radriance@cftc.gov

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: gsudik@cftc.gov

RIN: 3038-AC07
_______________________________________________________________________

3730. EXEMPTION FROM REGISTRATION FOR CERTAIN FOREIGN PERSONS

Priority: Substantive, Nonsignificant

Legal Authority: 7 USC 6d ; 7 USC 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

[[Page 74129]]

pursuant to section 4d of the Commodity Exchange Act.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/00/06
NPRM Comment Period End         02/00/07

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: achapin@cftc.gov

RIN: 3038-AC26
_______________________________________________________________________

3731. [bull] DEBT SECURITIES CONFORMING AMENDMENTS

Priority: Substantive, Nonsignificant

Legal Authority: 7 USC 1 et seq, as amended by PL 106-554, 114 Stat
2763

CFR Citation: 17 CFR 41

Legal Deadline: None

Abstract: On July 13, 2006, the Commodity Futures Trading Commission
("CFTC") and the Securities and Exchange Commission ("SEC") issued
joint final rules to permit the trading of futures contracts based on
individual debt securities and indexes comprised of individual debt
securities. The effective date for the joint rules is August 14, 2006.
The present language of several CFTC rules is not fully consistent with
the offer and trading of futures contracts based on debt securities.
Therefore the CFTC is proposing to adopt several conforming amendments
that clarify the applicability of the rules to futures contracts based
on debt.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            04/00/07
NPRM Comment Period End         05/00/07

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: bfekrat@cftc.gov

RIN: 3038-AC31
_______________________________________________________________________
Commodity Futures Trading Commission (CFTC)            Final Rule Stage

_______________________________________________________________________

3732. 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 adjusted net capital by 30 percent or more. 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                            09/29/06                    71 FR 57451
NPRM Comment Period End         11/28/06
Final Action                    01/00/07

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: tdiaz@cftc.gov

RIN: 3038-AC27
_______________________________________________________________________

3733. [bull] CONFLICTS OF INTEREST IN SELF-REGULATION AND SELF-
REGULATORY ORGANIZATIONS

Priority: Substantive, Nonsignificant

Legal Authority: 7 USC 1 et seq, as amended by PL 106-554, 114 Stat
2763

CFR Citation: 17 CFR part 38

Legal Deadline: None

Abstract: The Commission is proposing Acceptable Practices for Core
Principle 15 to offer designated contract markets ("DCMs") a safe-
harbor for compliance with section 5(d)(15) of the Commodity Exchange
Act. That section requires DCMs to minimize conflicts of interest in
their decisionmaking processes. The Acceptable Practices propose that
DCMs minimize potential conflicts of interest by maintaining governing
boards composed of at least fifty percent public directors. They also
address the composition of DCMs' disciplinary panels; propose board-
level Regulatory Oversight Committees, consisting solely of public
directors, to oversee DCMs' regulatory functions; and define "public"
for persons serving on DCMs' boards and disciplinary panels.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            07/07/06                    71 FR 38740
NPRM Comment Period Extended    08/02/06                    71 FR 43681
NPRM Comment Period End         09/07/06
Final Action                    02/00/07

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Rachel F. Berdansky, Acting Deputy Director for Market
Compliance, Division of Market Oversight, Commodity Futures Trading

[[Page 74130]]

Commission, Three Lafayette Centre, 1155 21st Street NW., Washington,
DC 20581
Phone: 202 418-5641
Email: rberdansky@cftc.gov

RIN: 3038-AC28
_______________________________________________________________________

3734. [bull] ELECTRONIC FILING OF NOTICES OF EXEMPTION OR EXCLUSION
UNDER PART 4 OF THE COMMISSION'S REGULATIONS

Priority: Substantive, Nonsignificant

Legal Authority: 7 USC 1a; 7 USC 2; 7 USC 6b to 6c; 7 USC 6l to 6o; 7
USC 12a; 7 USC 23

CFR Citation: 17 CFR 4.5, 4.7, 4.12, 4.13, 4.14

Legal Deadline: None

Abstract: The Commission is proposing to amend its regulations to
require that notices of exemption or exclusion under part 4 of the
Commission's regulations submitted to National Futures Association
("NFA") be filed electronically.
The Commission previously has authorized NFA to receive and to process:
(1) Notices of eligibility for exclusion for certain otherwise
regulated persons from the definition of commodity pool operator
("CPO"), pursuant to Commission Regulation 4.5; (2) notices of claim
for exemption from certain part 4 requirements with respect to
commodity pools and commodity trading advisors ("CTAs") whose
participants or clients are qualified eligible persons, pursuant to
Commission Regulation 4.7; (3) claims of exemption from certain part 4
requirements for CPOs with respect to pools that principally trade
securities, pursuant to Commission Regulation 4.12(b); (4) statements
of exemption from registration as a CPO, pursuant to Commission
Regulation 4.13; and (5) notices of exemption from registration as a
CTA for certain persons registered as an investment adviser, pursuant
to Commission Regulation 4.14(a)(8). Currently, these notices are filed
in paper form with NFA.
The Commission is proposing that Regulations 4.5, 4.7, 4.12(b), 4.13,
and 4.14(a)(8) be amended to require that the notice required by each
section be filed electronically with NFA. The Commission is further
proposing that the submission of a notice through NFA's electronic
exemption filing system by a person duly authorized to bind the
submitter be accepted in lieu of the manual signature required by each
of these regulations.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            10/13/06                    71 FR 60454
NPRM Comment Period End         11/13/06
Final Action                    01/00/07

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Eileen R. Chotiner, Futures Trading Specialist,
Division of Clearing and Intermediary Oversight, Commodity Futures
Trading Commission, Three Lafayette Centre, 1155 21st Street NW.,
Washington, DC 20581
Phone: 202 418-5467
Fax: 202 418-5536
Email: echotiner@cftc.gov

RIN: 3038-AC33
_______________________________________________________________________

3735. [bull] INTRODUCING BROKER ELECTRONIC FILING OF ANNUAL REPORTS

Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.

Legal Authority: 7 USC 1a; 7 USC 6d; 7 USC 6f to 6g; 7 USC 12a; 7 USC
21

CFR Citation: 17 CFR 1.10; 17 CFR 1.31

Legal Deadline: None

Abstract: The Commission is proposing to amend its regulations to
require that certified annual reports on Form 1-FR-IB filed with NFA by
introducing brokers be filed electronically in accordance with NFA's
electronic filing system, and that certified annual reports filed by
introducing brokers also registered as securities broker-dealers, who
file FOCUS reports in lieu of Form 1-FR-IB as permitted under the
regulations, file either in hard copy or electronically according to
the instructions of NFA. The Commission is also proposing to amend its
regulations to require the retention by introducing brokers of hard
copies of such certified annual reports containing the original,
manually signed certification.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            09/19/06                    71 FR 54789
NPRM Comment Period End         10/19/06
Final Action                    01/00/07

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Jennifer C.P. Bauer, Special Counsel, Division of
Clearing and Intermediary Oversight, Commodity Futures Trading
Commission, Three Lafayette Centre, 1155 21st Street NW., Washington,
DC 20581
Phone: 202 418-5472
Fax: 202-418-5547
Email: jbauer@cftc.gov

RIN: 3038-AC34
_______________________________________________________________________

3736. [bull] ADVERTISING BY COMMODITY POOL OPERATORS, COMMODITY TRADING
ADVISORS, AND THE PRINCIPALS THEREOF

Priority: Substantive, Nonsignificant

Legal Authority: 7 USC 6b; 7 USC 6o

CFR Citation: 17 CFR 4.41

Legal Deadline: None

Abstract: The Commission is proposing to amend Regulation 4.41 to: (1)
Restrict the use of testimonials; (2) clarify the required placement of
the prescribed disclaimer concerning simulated or hypothetical
performance; and (3) include within the regulation's coverage
advertising through electronic media.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            08/23/06                    71 FR 49387
NPRM Comment Period End         09/22/06
Final Action                    01/00/07

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Barbara S. Gold, Associate Director, Division of
Clearing and Intermediary Oversight, Commodity Futures Trading
Commission, Three Lafayette Centre, 1155 21st Street NW., Washington,
DC 20581
Phone: 202 418-5450

[[Page 74131]]

Fax: 202 418-5528
Email: bgold@cftc.gov

RIN: 3038-AC35
_______________________________________________________________________
Commodity Futures Trading Commission (CFTC)           Completed Actions

_______________________________________________________________________

3737. ELIGIBLE COMMERCIAL ENTITIES AUTHORIZED TO TRADE ON EXEMPT
COMMERCIAL MARKETS

Priority: Substantive, Nonsignificant

CFR Citation: 17 CFR 36

Completed:
________________________________________________________________________

Reason                            Date                      FR Cite

________________________________________________________________________

Withdrawn                       07/20/06

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Duane C. Andresen
Phone: 202 418-5492
Fax: 202 418-5527
Email: dandresen@cftc.gov

RIN: 3038-AC21
_______________________________________________________________________

3738. MARKET AND LARGE TRADER REPORTING

Priority: Substantive, Nonsignificant

CFR Citation: 17 CFR 15 to 21

Completed:
________________________________________________________________________

Reason                            Date                      FR Cite

________________________________________________________________________

Final Action                    07/03/06                    71 FR 37809

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Bruce Fekrat
Phone: 202 418-5578
Fax: 202 418-5527
Email: bfekrat@cftc.gov

RIN: 3038-AC22
_______________________________________________________________________

3739. [bull] JOINT FINAL RULES: APPLICATION OF THE DEFINITION OF NARROW-
BASED SECURITY INDEX TO DEBT SECURITIES INDEXES AND SECURITY FUTURES ON
DEBT SECURITIES

Priority: Substantive, Nonsignificant

Legal Authority: sec 206, 251, and 252, PL. 106-55, 114 Stat. 2763; 7
USC 1a; 7 USC 2; 7 USC 6f; 7 USC 6j; 7 USC 7a-2; 7 USC 12a; 15 USC 77c
to 77d; 15 USC 77g; 15 USC 77j; 15 USC 77s; 15 USC 77z-2 to 77z-3; 15
USC 77eee; 15 USC 77ggg; 15 USC 77sss to 77ttt; 15 USC 78c to 78g; 15
USC 78g(c)(2); 15 USC 78i; 15 USC 78w to 78x; 15 USC 78ll to 78mm; 15
USC 79q; 15 USC 80a-20; 15 USC 80a-23; 15 USC 80a-29; 15 USC 80a-37; 15
USC 80b-3; 15 USC 80b-11; 15 USC 7201 et. seq

CFR Citation: 17 CFR 41.15; 17 CFR 41.21; 17 CFR 240.3a55-4; 17 CFR
240.6h-2

Legal Deadline: None

Abstract: The Commodity Futures Trading Commission ("CFTC") and the
Securities and Exchange Commission ("SEC") are adopting a new rule
and amending an existing rule under the Commodity Exchange Act and
adopting two new rules under the Securities Exchange Act of 1934. These
rules will modify the applicable statutory listing standards
requirements to permit security futures to be based on individual debt
securities or a narrow-based security index composed of debt
securities. In addition these rules and rule amendments exclude from
the definition of "narrow-based security index" debt securities
indexes that satisfy specified criteria. A future on a debt securities
index that is excluded from the definition of "narrow-based security
index" will not be a security future and may trade subject to the
exclusive jurisdiction of the CFTC.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Final Action                    07/13/06                    71 FR 39534
Final Action Effective          08/14/06

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Elizabeth L. Ritter, Deputy General Counsel, Office of
General Counsel, Commodity Futures Trading Commission, Three Lafayette
Centre, 1155 21st Street NW., Washington, DC 20581
Phone: 202 418-5052
Fax: 202 418-5524
Email: eritter@cftc.gov

RIN: 3038-AC32
[FR Doc. 06-8369 Filed 12-08-06; 8:45 am]
BILLING CODE 6351-01-S
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