Federal Register, Volume 84 Issue 132 (Wednesday, July 10, 2019)
[Federal Register Volume 84, Number 132 (Wednesday, July 10, 2019)]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-14638]
COMMODITY FUTURES TRADING COMMISSION
Request for Nominations for the Climate-Related Market Risk
Subcommittee Under the Market Risk Advisory Committee
AGENCY: Commodity Futures Trading Commission.
SUMMARY: The Commodity Futures Trading Commission (CFTC or Commission)
is requesting nominations for membership on the Climate-Related Market
Risk Subcommittee (Subcommittee) under the Market Risk Advisory
Committee (MRAC). The MRAC is a discretionary advisory committee
established by the
Commission in accordance with the Federal Advisory Committee Act.
DATES: The deadline for the submission of nominations is September 9,
ADDRESSES: Nominations should be emailed to [email protected]
or sent by hand delivery or courier to Alicia L. Lewis, MRAC Designated
Federal Officer and Special Counsel to Commissioner Rostin Behnam,
Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st
Street NW, Washington, DC 20581. Please use the title ``MRAC Climate-
Related Market Risk Subcommittee'' for any nominations you submit.
FOR FURTHER INFORMATION CONTACT: Alicia L. Lewis, MRAC Designated
Federal Officer and Special Counsel to Commissioner Rostin Behnam at
(202) 418-5862 or email: [email protected].
SUPPLEMENTARY INFORMATION: The Subcommittee was established to provide
a report to the MRAC that will identify and examine climate change-
related financial and market risks, including for derivatives markets.
Within this charge, the Subcommittee may consider, but is not limited
to, the following issues and topics:
Identifying challenges or impediments to evaluating and
managing climate-related financial and market risks;
Identifying how market participants can improve
integration of climate-related scenario analysis, stress testing,
governance initiatives, and disclosures into financial and market risk
assessments and reporting;
Identifying policy initiatives and best practices for risk
management and disclosure of financial and market risks related to
climate change that support financial stability; and
Identifying appropriate methods by which market
participants' data and analyses can enhance and contribute to the
assessment of climate-related financial and market risks and their
potential impacts on agricultural production, energy, food, insurance,
real estate, and other financial stability indicators.
The Subcommittee will provide its report directly to the MRAC and
will not provide reports and/or recommendations directly to the
Commission. The Subcommittee has no authority to make decisions on
behalf of the MRAC, and no determination of fact or policy will be made
by the Subcommittee on behalf of the Commission.
Subcommittee members will generally serve as representatives and
provide advice reflecting the views of stakeholder organizations and
entities throughout the derivatives and financial markets. The
Subcommittee may also include regular government employees when doing
so furthers its purpose. It is anticipated that the Subcommittee will
hold at least three in-person or telephonic meetings per year.
Subcommittee members serve at the pleasure of the Commission.
Subcommittee members do not receive compensation or honoraria for their
services, and they are not reimbursed for travel and per diem expenses.
The Subcommittee members will include individuals who are members
of the MRAC and/or other individuals. For these other individuals who
are not serving on the MRAC currently, the Commission seeks nominations
of individuals from a wide range of perspectives, including from
industry, academia, the government, and public interest. To advise the
MRAC effectively, Subcommittee members must have a high-level of
expertise and experience with: Financial and market risks from climate
change, including efforts to assess, manage and mitigate such risks
through risk management, governance, stress testing, disclosure,
scenario analysis; evaluating the potential impact of such risks on the
derivatives and financial markets, as well as on the economy and
financial stability generally; and the Commodity Exchange Act and
Commission regulations thereunder. To the extent practicable, the
Commission will strive to select members reflecting wide ethnic,
racial, gender, and age representation.
The Commission invites the submission of nominations for
Subcommittee membership. Each nomination submission should include the
proposed member's name, title, organization affiliation and address,
email address and telephone number, as well as information that
supports the individual's qualifications to serve on the Subcommittee.
The submission should also include the name, email address and
telephone number of the person nominating the proposed Subcommittee
member. Self-nominations are acceptable.
Submission of a nomination is not a guarantee of selection as a
member of the Subcommittee. As noted in the MRAC's Membership Balance
Plan, the Commission seeks to ensure that the membership of a
subcommittee is balanced relative to the particular issues addressed by
the subcommittee in question. The Commission will identify members for
the Subcommittee based on Commissioners' and Commission staff
professional knowledge of ongoing efforts to identify, manage and
mitigate climate-related financial and market risks, consultation with
knowledgeable persons outside the CFTC, and requests to be represented
received from organizations. The office of the Commissioner primarily
responsible for the MRAC and the Subcommittee plays a primary, but not
exclusive, role in this process and makes recommendations regarding
membership to the Commission. The Commission, by vote, authorizes
members to serve on MRAC subcommittees.
(Authority: 5 U.S.C. App. II)
Dated: July 3, 2019.
Deputy Secretary of the Commission.
[FR Doc. 2019-14638 Filed 7-9-19; 8:45 am]
BILLING CODE 6351-01-P