2014-27279
Federal Register, Volume 79 Issue 223 (Wednesday, November 19, 2014)
[Federal Register Volume 79, Number 223 (Wednesday, November 19, 2014)]
[Notices]
[Pages 68870-68871]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-27279]
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COMMODITY FUTURES TRADING COMMISSION
Market Risk Advisory Committee
AGENCY: Commodity Futures Trading Commission.
ACTION: Notice.
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SUMMARY: The Commodity Futures Trading Commission (CFTC or Commission)
is inviting comments on topics for discussion at future Market Risk
Advisory Committee (MRAC or Committee) meetings and also calling for
the submission of nominations to this newly established Committee. The
MRAC is a discretionary advisory committee and was established by the
Commission in accordance with the Federal Advisory Committee Act.
DATES: The deadline for comments and nominations is December 3, 2014.
ADDRESSES: Comments on topics for discussion at future MRAC meetings
and nominations should be emailed to [email protected]. Comments
and nominations may also be mailed to Petal Walker, Chief Counsel to
Commissioner Bowen, U.S. Commodity Futures Trading Commission, Three
Lafayette Centre, 1155 21st Street NW., Washington, DC 20581. Please
use the title ``Market Risk Advisory Committee'' in any comments or
nominations you submit.
FOR FURTHER INFORMATION CONTACT: Petal Walker, (202) 418-5794; email:
[email protected].
SUPPLEMENTARY INFORMATION: The MRAC was established to conduct public
meetings and submit reports and recommendations to the Commission on
matters of public concern to clearinghouses, exchanges, intermediaries,
market makers, end-users (e.g., consumers) and the Commission regarding
systemic issues that threaten the stability of the derivatives markets
and other financial markets, and to otherwise assist the Commission in
identifying and understanding the impact and implications of an
evolving market structure and movement of risk across clearinghouses,
intermediaries, market makers and end-users. The duties of the MRAC are
solely advisory and will
[[Page 68871]]
include monitoring and advising the Commission with respect to the
effects that developments in the structure of the derivatives markets
have on the systemic issues that threaten the stability of the
derivatives markets and other financial markets. The MRAC will also
make recommendations to the Commission on how to improve market
structure and mitigate risk to support the Commission's mission of
ensuring the integrity of the derivatives markets and monitoring and
managing systemic risk. Determinations of actions to be taken and
policy to be expressed with respect to the reports or recommendations
of the MRAC shall be made solely by the Commission.
MRAC members will generally serve as representatives in order to
provide advice reflecting the views of organizations and entities that
constitute the structure of the derivatives and financial markets. The
MRAC may also include regular government employees when doing so
furthers purposes of the MRAC. Though the precise number of members in
any category may vary over time, the Commission expects the MRAC to
have approximately 20-25 members with the following types of entities
with interests in the derivatives markets and systemic risk being
represented (and their approximate number): (i) Exchanges (3-5), (ii)
clearinghouses (1-3), (iii) intermediaries (1-4), (iv) market makers
(5-8), (v) end-users (4-6), (vi) academia (1-2) and (vii) regulators
(1-2). The MRAC will hold approximately 2-4 meetings per year and
members will serve at the pleasure of the Commission. MRAC members will
not receive compensation or honoraria for their services, and they will
not be reimbursed for travel and per diem expenses.
The Commission seeks members who represent organizations or groups
with an interest in the MRAC's mission and function and reflect a wide
range of perspectives and interests, including those that may be
conflicting, related to the derivatives markets and other financial
markets. To advise the Commission effectively, MRAC members must have a
high-level of expertise and experience in the derivatives and financial
markets and the Commission's regulation of such markets, including from
a historical perspective. To the extent practicable, the Commission
will strive to select members reflecting wide ethnic, racial, gender,
and age representation. MRAC members should be open to participating in
a public forum.
The Commission invites comments from the public on the topics on
which MRAC should focus. In other words, topics that:
(a) Reflect matters of public concern to clearinghouses, exchanges,
intermediaries, market makers, end-users and the Commission regarding
systemic issues that threaten the stability of the derivatives markets
and other financial markets; and/or
(b) are important to otherwise assist the Commission in identifying
and understanding the impact and implications of an evolving market
structure and movement of risk across clearinghouses, exchanges,
intermediaries, market makers and end-users.
Each comment should include the commenter's name and email or mailing
address.
In addition, the Commission also invites the submission of
nominations to the MRAC. Each nomination submission should include
relevant information about the proposed member, such as the
individual's name, title, and organizational affiliation as well as
information that supports the individual's qualifications to serve on
the MRAC. The submission should also include the name and email or
mailing address of the person nominating the proposed member.
Submission of nomination is not a guarantee of selection as a
member of the MRAC. As noted in the MRAC's Membership Balance Plan, the
CFTC identifies members for the MRAC based on Commissioners' and
Commission staff professional knowledge of the derivatives and other
financial markets, 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 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 the MRAC.
Authority: 5 U.S.C. App. II.
Dated: November 13, 2014.
Christopher J. Kirkpatrick,
Secretary of the Commission.
[FR Doc. 2014-27279 Filed 11-18-14; 8:45 am]
BILLING CODE 6351-01-P