December 26, 2006 – Federal Register Recent Federal Regulation Documents

TIPRA Amendments to Section 199
Document Number: E6-22016
Type: Proposed Rule
Date: 2006-12-26
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
On October 19, 2006, on page 61692 of the Federal Register (71 FR 61692), a notice of proposed rulemaking by cross-reference to temporary regulations and notice of public hearing announced that a public hearing concerning the application of section 199, which provides a deduction for income attributable to domestic production activities will be held February 5, 2007 in the auditorium of the New Carrollton Federal Building, 5000 Ellin Road, Lanham, MD 20706. The location of the public hearing has changed.
Proposed Collection; Comment Request for Tip Reporting Alternative Commitment (Hairstyling Industry)
Document Number: E6-22014
Type: Notice
Date: 2006-12-26
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning Tip Reporting Alternative Commitment (Hairstyling Industry).
Proposed Collection; Comment Request for Tip Reporting Alternative Commitment (TRAC) for Most Industries
Document Number: E6-22013
Type: Notice
Date: 2006-12-26
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning Tip Reporting Alternative Commitment (TRAC) for Most Industries.
Proposed Collection; Comment Request for Tip Rate Determination Agreement (TRDA) for Most Industries
Document Number: E6-22012
Type: Notice
Date: 2006-12-26
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning Tip Rate Determination Agreement (TRDA) for Most Industries.
Proposed Collection; Comment Request for Deduction Guidance and Capitalization Expenditures
Document Number: E6-22011
Type: Notice
Date: 2006-12-26
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning an existing regulation, REG-125638-01 (Final), (TD 9107) Guidance Regarding Deduction and Capitalization of Expenditures.
Proposed Collection; Comment Request for Form 2587
Document Number: E6-22010
Type: Notice
Date: 2006-12-26
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning Form 2587, Application for Special Enrollment Examination.
Jackson National Life Insurance Company, et al.
Document Number: E6-22009
Type: Notice
Date: 2006-12-26
Agency: Securities and Exchange Commission, Agencies and Commissions
Privacy Act of 1974; Notice of updated System of Records
Document Number: E6-22003
Type: Notice
Date: 2006-12-26
Agency: General Services Administration, Agencies and Commissions
The General Services Administration (GSA) is providing notice of an update to the record system Employee Drug Abuse/Alcoholism Files (GSA/HRO-2). The system includes counseling and rehabilitation referrals and records of counseling and rehabilitation.
Notice of Availability of Draft Supplemental Environmental Impact Statement for the Pinedale Anticline Oil and Gas Exploration and Development Project, Sublette County, Wyoming
Document Number: E6-22001
Type: Notice
Date: 2006-12-26
Agency: Department of the Interior, Bureau of Land Management, Land Management Bureau
The Bureau of Land Management (BLM) published in the Federal Register on December 15, 2006 a Notice of Availability (NOA) of a Draft Supplemental Environmental Impact Statement (SEIS) for the Pinedale Anticline Oil and Gas Exploration and Development Project. The NOA contained incorrect information. The ADDRESSES section contained an incorrect Web address as to where the document would be available electronically. The DATES section contained unclear and incorrect information. The correct information is provided below.
Neurological Devices Panel of the Medical Devices Advisory Committee; Amendment of Notice
Document Number: E6-21995
Type: Notice
Date: 2006-12-26
Agency: Food and Drug Administration, Department of Health and Human Services
Safety Advisory: Unauthorized Marking of Compressed Gas Cylinders
Document Number: E6-21994
Type: Notice
Date: 2006-12-26
Agency: Pipeline and Hazardous Materials Safety Administration, Department of Transportation
This is to notify the public that we (PHMSA) have discovered the unauthorized marking of high-pressure compressed gas cylinders, mainly cylinders containing welding gases, fire extinguishers, and self-contained breathing apparatus, by Consulting and Safety Specialists, Inc. (CSSI), located at 924 Lefort Bypass, Thibodaux, LA 70301. On November 30, 2006, an inspector from PHMSA's Office of Hazardous Materials Enforcement (OHME) conducted a compliance inspection of CSSI. As a result of that inspection, PHMSA has determined that CSSI did not hold a valid Requalifier Identification Number issued by DOT while requalifying (inspecting, testing, or certifying) high-pressure compressed gas cylinders. In addition, CSSI marked and certified an undetermined number of DOT specification and/or special permit high- pressure compressed gas cylinders as being properly tested in accordance with the Hazardous Materials Regulations (HMR), when it had not verified its equipment to be accurate as required by the HMR. A hydrostatic requalification and visual inspection, conducted as prescribed in the HMR, are used to verify the structural integrity of a cylinder. If the hydrostatic requalification and visual inspection are not performed in accordance with the HMR, a cylinder with compromised structural integrity may have been returned to service when it should have been condemned. Extensive property damage, serious personal injury, or death may result from rupture of a cylinder. Cylinders that have not been requalified in accordance with the HMR may not be charged or filled with compressed gas or other hazardous material and offered for transportation in commerce.
Determination under the African Growth and Opportunity Act
Document Number: E6-21992
Type: Notice
Date: 2006-12-26
Agency: Committee for the Implementation of Textile Agreements, Agencies and Commissions
The Committee for the Implementation of Textile Agreements (CITA) has determined that certain additional textile and apparel goods from the United Republic of Tanzania shall be treated as ``handloomed, handmade, folklore articles, or ethnic printed fabrics'' and qualify for preferential treatment under the African Growth and Opportunity Act. Imports of eligible products from Tanzania with an appropriate visa will qualify for duty-free treatment.
Determination under the African Growth and Opportunity Act
Document Number: E6-21991
Type: Notice
Date: 2006-12-26
Agency: Committee for the Implementation of Textile Agreements, Agencies and Commissions
The Committee for the Implementation of Textile Agreements (CITA) has determined that certain textile and apparel goods from Niger shall be treated as ``handloomed, handmade, folklore articles, or ethnic printed fabrics'' and qualify for preferential treatment under the African Growth and Opportunity Act. Imports of eligible products from Niger with an appropriate visa will qualify for duty-free treatment.
Norfolk Southern Railway Company-Abandonment Exemption-in McDowell County, WV
Document Number: E6-21946
Type: Notice
Date: 2006-12-26
Agency: Surface Transportation Board, Department of Transportation
Airworthiness Directives; Alpha Aviation Design Limited (Type Certificate No. A48EU formerly held by APEX Aircraft and AVIONS PIERRE ROBIN), Model R2160 Airplanes
Document Number: E6-21923
Type: Rule
Date: 2006-12-26
Agency: Federal Aviation Administration, Department of Transportation
The FAA is adopting a new airworthiness directive (AD) for certain Alpha Aviation Model R2160 airplanes. This AD requires you to inspect the fuel pressure indication system for leakage at the end of the adapter in the fuel pressure indication system. This AD results from the possibility of fuel leakage at the end of the adapter in the fuel pressure indication system. We are issuing this AD to detect, correct, and prevent fuel leaks in the fuel pressure indicating system. This failure could allow fuel to leak near the exhaust manifold and lead to a fire.
Internal Analgesic, Antipyretic, and Antirheumatic Drug Products for Over-the-Counter Human Use; Proposed Amendment of the Tentative Final Monograph; Required Warnings and Other Labeling
Document Number: E6-21855
Type: Proposed Rule
Date: 2006-12-26
Agency: Food and Drug Administration, Department of Health and Human Services
The Food and Drug Administration (FDA) is proposing to amend its over-the-counter (OTC) labeling regulations and the tentative final monograph (TFM) for OTC internal analgesic, antipyretic, and antirheumatic (IAAA) drug products to include new warnings and other labeling requirements advising consumers about potential risks and when to consult a doctor. FDA is also proposing to remove the alcohol warning in its regulations and add new warnings and other labeling for all OTC IAAA drug products. The new labeling would be required for all OTC drug products containing an IAAA active ingredient whether marketed under an OTC drug monograph or an approved new drug application (NDA). FDA is issuing this proposal as part of its ongoing review of OTC drug products after considering the advice of its Nonprescription Drugs Advisory Committee (NDAC) and other available information. FDA is proposing these labeling changes because it has tentatively concluded they are necessary for these ingredients to be considered generally recognized as safe and effective and not misbranded for OTC use. FDA will address information about the cardiovascular risks of nonsteroidal anti-inflammatory drugs (NSAIDs) that was discussed at a February 16- 18, 2005, FDA advisory committee meeting, and the ``Allergy alert'' warning for NSAID products, in a future issue of the Federal Register.
Revisions to Civil and Criminal Penalties; Penalty Guidelines
Document Number: E6-21850
Type: Rule
Date: 2006-12-26
Agency: Federal Railroad Administration, Department of Transportation
In this final rule, the Federal Railroad Administration is revising its regulations to reflect revisions to the penalty provisions in the Hazardous Materials Transportation Safety and Security Reauthorization Act of 2005 (Title VII of the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users), enacted on August 10, 2005. We are also revising baseline assessments for several categories of violations, including those related to training and security plans, in our Civil Penalty Assessment Guidelines. We publish our Guidelines in order to provide the regulated community and the general public with information on the hazardous materials civil penalty assessment process for violations related to the transportation of hazardous materials by rail.
Federal Agricultural Mortgage Corporation Funding and Fiscal Affairs; Federal Agricultural Mortgage Corporation Disclosure and Reporting Requirements; Risk-Based Capital Requirements
Document Number: E6-21831
Type: Rule
Date: 2006-12-26
Agency: Farm Credit Administration, Agencies and Commissions
The Farm Credit Administration (FCA, Agency, we) is amending regulations governing the Federal Agricultural Mortgage Corporation (Farmer Mac or the Corporation) risk-based capital stress test (RBCST or model). We are making these amendments in response to changing financial markets, new business practices and the evolution of the loan portfolio at Farmer Mac, as well as continued development of industry best practices among leading financial institutions. The rule modifies regulations in 12 CFR part 652, subpart B. The rule is intended to more accurately reflect risk in the model in order to improve the model's outputFarmer Mac's regulatory minimum risk-based capital level. The rule also clarifies Farmer Mac's reporting requirements in Sec. 655.50(c).
Oil Pollution Prevention; Spill Prevention, Control, and Countermeasure Plan Requirements-Amendments
Document Number: E6-21509
Type: Rule
Date: 2006-12-26
Agency: Environmental Protection Agency
The Environmental Protection Agency (EPA or the Agency) is amending the Spill Prevention, Control, and Countermeasure (SPCC) Plan requirements by: first, providing the option for owners and operators of facilities that store 10,000 gallons of oil or less and meet other qualifying criteria to self-certify their SPCC Plans in lieu of review and certification by a Professional Engineer; second, providing an alternative to the general secondary containment requirement without requiring a determination of impracticability for facilities that have particular types of oil-filled equipment; third, defining and exempting particular vehicle fuel tanks and other on-board bulk oil storage containers used for motive power; and fourth, exempting mobile refuelers from the sized secondary containment requirements for bulk storage containers. The Agency also is removing and reserving the SPCC requirements for animal fats and vegetable oils that are specific to onshore oil production facilities, onshore oil drilling and workover facilities, and offshore oil drilling, production, or workover facilities. Finally, the Agency is extending the SPCC compliance dates for farms. These changes significantly reduce the burden imposed on the regulated community for complying with the SPCC requirements, while maintaining protection of human health and the environment. In a separate document in this Federal Register, the Agency is proposing to extend the compliance dates for all facilities.
Oil Pollution Prevention; Non-Transportation Related Onshore Facilities
Document Number: E6-21507
Type: Proposed Rule
Date: 2006-12-26
Agency: Environmental Protection Agency
The Environmental Protection Agency is proposing to extend the dates by which facilities must prepare or amend Spill Prevention, Control, and Countermeasure Plans (SPCC Plans), and implement those Plans. This action would allow the Agency time to promulgate further revisions to the July 17, 2002 SPCC rule (in addition to those published elsewhere in this Federal Register) before owners and operators are required to meet requirements of the rule related to preparing or amending, and implementing SPCC Plans. EPA expects to propose further revisions to the SPCC rule in 2007.
Regarding the Proposed Merger of Alcatel and Lucent Technologies, Inc.
Document Number: C6-9381
Type: Administrative Order
Date: 2006-12-26
Agency: The President, Presidential Documents, Executive Office of the President
Adjustments of Certain Rates of Pay
Document Number: 06-9896
Type: Executive Order
Date: 2006-12-26
Agency: Executive Office of the President, Presidential Documents
National Aeronautics Research and Development
Document Number: 06-9895
Type: Executive Order
Date: 2006-12-26
Agency: Executive Office of the President, Presidential Documents
Provision of Aviation Insurance Coverage for Commercial Air Carrier Service in Domestic and International Operations
Document Number: 06-9891
Type: Administrative Order
Date: 2006-12-26
Agency: Executive Office of the President, Presidential Documents
Sunshine Federal Register Notice
Document Number: 06-9868
Type: Notice
Date: 2006-12-26
Agency: Nuclear Regulatory Commission, Agencies and Commissions
Blueberry Promotion, Research, and Information Order; Amendment No. 2 to Change the Name of the U.S.A. Cultivated Blueberry Council and Increase Membership; Correction
Document Number: 06-9862
Type: Rule
Date: 2006-12-26
Agency: Agricultural Marketing Service, Department of Agriculture
The Agricultural Marketing Service published in the Federal Register on August 7, 2006, a final rule that changed the title of the U.S.A. Cultivated Blueberry Council (USACBC) to the ``U.S. Highbush Blueberry Council'' (Council) and added a member and alternate to represent the state of Washington. However, inaccurate amendatory language was used to make the change to the Council's name. In addition, an incorrect acronym used in Sec. 1218.78 prevented its removal and replacement and a heading preceding Sec. 1218.40 in the final rule was published with a repetitive word. This document corrects the error.
Delegation of Authority and Assignment of Responsibilities for International Affairs
Document Number: 06-9855
Type: Notice
Date: 2006-12-26
Agency: Office of the Secretary, Department of Labor
Intent To Prepare a Draft Environmental Impact Statement for Navigation Improvements and Airport, Little Diomede Island, AK
Document Number: 06-9854
Type: Notice
Date: 2006-12-26
Agency: Department of Defense, Department of the Army, Corps of Engineers, Engineers Corps, Army Department
The U.S. Army Engineer District, Alaska, intends to prepare a Draft Environmental Impact Statement (DEIS) to evaluate the feasibility of a small boat harbor and, in collaboration with other agencies, opportunities for economic development and air transportation capability for the community of Little Diomede Island, AK. Ignaluk on Little Diomede Island, population 170, is a coastal community on the west side of Little Diomede Island, approximately 135 miles northwest of Nome. The community of Wales on the mainland is 27 miles from Little Diomede Island. Big Diomede Island, Russia, is 2 miles west of Little Diomede Island. The community of Ignaluk is a small and very remote community in the Bering Sea. Transportation to Little Diomede is by air or sea. Due to the normal severe weather and sea conditions, any method of travel can be risky. A landing strip constructed on sea ice in the winter provides fixed-wing airplane access approximately 3 months of the year. Helicopters and boats are used during summer. High waves and rocky shores often make landing by boat difficult. A constant wind blows 15 knots with gusts up to 80 knots. Cloudy skies and fog are prevalent in the summer. There is no scheduled cargo ship schedule, and only barges and landing craft come close to the island; few actually land. There is weekly mail delivery by helicopter. Transportation of goods and services is expensive and medical evacuation is very difficult. The lack of access is a barrier to the economic future of the community and could force relocation of the entire community to the mainland. The draft EIS would also study any multi-use value of the airport and boat harbor projects for coastal storm damage reduction. The DEIS will determine whether Federal action is warranted and will define alternative actions for Congressional consideration.
Intent To Prepare a Draft Environmental Impact Statement for the Wilmington Harbor-96 Act, Dredged Material Management Plan, New Hanover and Brunswick Counties, NC
Document Number: 06-9853
Type: Notice
Date: 2006-12-26
Agency: Department of Defense, Department of the Army, Corps of Engineers, Engineers Corps, Army Department
The Wilmington District, U.S. Army Corps of Engineers (USACE) is conducting a study to evaluate the long-term (20-year) dredged material placement needs and opportunities for Wilmington Harbor. The study area encompasses Wilmington Harbor and the Ocean Bar approach channels, which extend from the mouth of the Cape Fear River in Brunswick County, NC to a point just north of the Hilton Railroad Bridge in New Hanover County, near Wilmington, NC. The study will include the preparation of a Dredged Material Management Plan (DMMP) and Draft Environmental Impact Statement (DEIS) and will identify, evaluate, screen, prioritize, and ultimately optimize placement alternatives resulting in the recommendation of a plan for the placement of dredged materials for at least the next 20 years.
Revised Notice of Intent To Prepare an Environmental Impact Statement for Proposed Construction of the Smithsonian National Museum of African American History and Culture-Public Scoping Meeting on January 4, 2007
Document Number: 06-9852
Type: Notice
Date: 2006-12-26
Agency: Smithsonian Institution, Agencies and Commissions, National Capital Planning Commission
The SI and NCPC, as joint lead agencies with NCPC as the Responsible Federal Agency, are confirming the date of the public scoping meeting for the Environmental Impact Statement (EIS) for the proposed construction of the Smithsonian National Museum of African American History and Culture. Notice of the date of the public meeting was provided in the Washington Post on December 5, 2006. The Notice of Intent to Prepare an EIS initially published in the Federal Register/ Volume 71, No. 223/Monday, November 20, 2006 did not include the meeting information. In addition, the comment period, Web site URL, and contact information have changed.
The President's Export Council: Meeting of the President's Export Council
Document Number: 06-9848
Type: Notice
Date: 2006-12-26
Agency: Department of Commerce, International Trade Administration
The President's Export Council (PEC) will hold a full Council meeting to discuss topics related to export expansion. The meeting will include discussion of trade priorities and initiatives, PEC subcommittee activity, and proposed letters of recommendation to the President. The PEC was established on December 20, 1973, and reconstituted May 4, 1979, to advise the President on matters relating to U.S. trade. It was most recently renewed by Executive Order 13316. Date: January 18, 2007. Time: 10 a.m. (EST). Location: U.S. Department of Commerce, Room 4832, 1401 Constitution Avenue, NW., Washington, DC 20230. Because of building security, all non-government attendees must pre-register. Please RSVP to the PEC Executive Secretariat no later than January 12, 2007, to J. Marc Chittum, President's Export Council, Room 4043, 1401 Constitution Avenue, NW., Washington, DC 20230, telephone (202) 482-1124, or e-mail Marc.Chittum@mail.doc.gov. This program will be physically accessible to people with disabilities. Seating is limited and will be on a first come, first served basis. Requests for sign language interpretation, other auxiliary aids, or pre-registration, should be submitted no later than January 12, 2007, to J. Marc Chittum, President's Export Council, Room 4043, 1401 Constitution Avenue, NW., Washington, DC 20230, telephone (202) 482-1124, or e-mail Marc.Chittum@mail.doc.gov.
Federal Acquisition Regulation; FAR Case 2004-032, Biobased Products Preference Program
Document Number: 06-9846
Type: Proposed Rule
Date: 2006-12-26
Agency: General Services Administration, Agencies and Commissions, National Aeronautics and Space Administration, Department of Defense
The Civilian Agency Acquisition Council and the Defense Acquisition Regulations Council (Councils) are proposing to amend the Federal Acquisition Regulation (FAR) to implement section 9002 of the Farm Security and Rural Investment Act of 2002 (FSRIA), as amended by Sections 205 and 943 of the Energy Policy Act of 2005. Entitled Federal Procurement of Biobased Products, section 9002 requires that a procurement preference be afforded biobased products within items designated by the Secretary of Agriculture.
Inventory of Geological and Geophysical Collections at State Surveys
Document Number: 06-9843
Type: Notice
Date: 2006-12-26
Agency: Geological Survey, Department of the Interior
The proposal to initiate the collection of information described below will be submitted to the Office of Management and Budget for approval under the provisions of the Paperwork Reduction Act (44 U.S.C. Chapter 35). Copies of the proposed collection of information and related forms may be obtained by contacting the Bureau's Clearance Officer at the phone number listed below. OMB has up to 60 days to approve the information collection, but may respond after 30 days; therefore public comments should be submitted to OMB within 30 days in order to assure maximum consideration. Comments and suggestions on the proposal should be made directly to the Desk Officer for the Interior Department, OMB-OIRA, via e-mail to OIRADOCET@omb.eop.gov or via facsimile to (202) 395-6566, and to the Bureau Clearance Officer, U.S. Geological Survey, 807 National Center, 12201 Sunrise Valley Drive, Reston, Virginia 20192. Specific public comments are requested as to: 1. Whether the collection of information is necessary for the proper performance of the functions of the Bureau, including whether the information will have practical utility; 2. The accuracy of the Bureau's estimate of the burden of the collection of information, including the validity of the methodology and assumptions use; 3. The quality, utility, and clarity of the information to be collected; and 4. How to minimize the burden of the collection of information on those who are to respond, including the use of the appropriate automated, electronic, mechanical, or other forms of information technology. Title: Inventory of Geological and Geophysical Collections at State Surveys. OMB approval number: 1028-. Abstract: Section 351 of the Energy Policy Act of 2005 directs the Secretary of the Interior, through the Director of the U.S. Geological Survey, ``to carry out a National Geological and Geophysical data Preservation Program'' (NGGDPP). The Implementation Plan for the National Geological and Geophysical Data Preservation Program submitted to Congress in August 2006 outlines the vision and purpose of the program and makes recommendations for implementation of the program. One of the action items in the FY 2007 implementation plan is to ``begin interactions with State geological surveys and other DOI agencies that maintain geological and geophysical data and samples to address their preservation and data rescue needs.'' As the first step in this process, the USGS is requesting that each state provide an assessment of their current collections resources and data preservation needs. This information will provide a snapshot of the diversity of scientific collections held, supported, or used by state geological surveys. The inventory covers geological and geophysical collections including: (1) Physical collections such as cores, rocks, minerals, fossils, and liquid samples (such as oil). (2) Digital collections (such as analyses and well logs) that are/ were related to physical collections. (3) Paper and other records (such as microfiche and tapes) that need to be converted to digital format (such as seismic lines and historical geological records). Bureau Form Number: None. Frequency: One time. Description of Respondents: State Geological Surveys. Annual Responses: 50. Annual Burden in Hours: 150. Bureau Clearance Officer: Fred Travnicek, 703-648-7231.
Exemptions for Banks Under Section 3(a)(5) of the Securities Exchange Act of 1934 and Related Rules
Document Number: 06-9842
Type: Proposed Rule
Date: 2006-12-26
Agency: Securities and Exchange Commission, Agencies and Commissions
The Securities and Exchange Commission is publishing for comment proposed rules and rule amendments regarding exemptions from the definitions of ``broker'' and ``dealer'' under the Securities Exchange Act of 1934 (``Exchange Act'') for banks'' securities activities. In particular, the Commission is re-proposing a conditional exemption originally proposed in 2004 that would allow banks to effect riskless principal transactions with non-U.S. persons pursuant to Regulation S under the Securities Act of 1933 (``Securities Act''). The Commission also is proposing to amend and redesignate an existing exemption from the definition of ``dealer'' for banks' securities lending activities as a conduit lender. In addition, the Commission is proposing to amend a rule that grants a limited exemption from U.S. broker-dealer registration for foreign broker-dealers, conforming the rule to amended definitions of ``broker'' and ``dealer'' under the Exchange Act. Finally, the Commission is requesting comment on its intention to withdraw a rule defining the term ``bank'' for purposes of Sections 3(a)(4) and 3(a)(5) of the Exchange Act, because of judicial invalidation, a time-limited exemption for banks' securities activities, because of the passage of time, and an exemption from the definition of ``broker'' and ``dealer'' for savings associations and savings banks, an exemption no longer necessary because of the passage of the Regulatory Relief Act.
Black Dog Tavern Company, Inc., Provisional Acceptance of a Settlement Agreement and Order
Document Number: 06-9840
Type: Notice
Date: 2006-12-26
Agency: Consumer Product Safety Commission, Agencies and Commissions
It is the policy of the Commission to publish settlements which it provisionally accepts under the Consumer Product Safety Act in the Federal Register in accordance with the terms of 16 CFR 1118.20(e). Published below is a provisionally-accepted Settlement Agreement with Black Dog Tavern Company, Inc., containing a civil penalty of $50,000.
Definitions of Terms and Exemptions Relating to the “Broker” Exceptions for Banks
Document Number: 06-9825
Type: Proposed Rule
Date: 2006-12-26
Agency: Securities and Exchange Commission, Agencies and Commissions, Federal Reserve System
The Board and the Commission jointly are issuing, and requesting comment on, proposed rules that would implement certain of the exceptions for banks from the definition of the term ``broker'' under Section 3(a)(4) of the Securities Exchange Act of 1934 (``Exchange Act''), as amended by the Gramm-Leach-Bliley Act (``GLBA''). The proposed rules would define terms used in these statutory exceptions and include certain related exemptions. In developing this proposal, the Agencies have consulted with the Office of the Comptroller of the Currency (``OCC''), the Federal Deposit Insurance Corporation (``FDIC'') and the Office of Thrift Supervision (``OTS''). The proposal is intended, among other things, to facilitate banks' compliance with the GLBA.
Risk-Based Capital Guidelines; Capital Adequacy Guidelines; Capital Maintenance: Domestic Capital Modifications
Document Number: 06-9738
Type: Proposed Rule
Date: 2006-12-26
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
The Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), Federal Deposit Insurance Corporation (FDIC), and Office of Thrift Supervision (OTS) (collectively, the Agencies) are proposing revisions to the existing risk-based capital framework that would enhance its risk sensitivity without unduly increasing regulatory burden. These changes would apply to banks, bank holding companies, and savings associations (banking organizations). A banking organization would be able to elect to adopt these proposed revisions or remain subject to the Agencies' existing risk-based capital rules, unless it uses the Advanced Capital Adequacy Framework proposed in the notice of proposed rulemaking published on September 25, 2006 (Basel II NPR). In this notice of proposed rulemaking (NPR or Basel IA), the Agencies are proposing to expand the number of risk weight categories, allow the use of external credit ratings to risk weight certain exposures, expand the range of recognized collateral and eligible guarantors, use loan-to-value ratios to risk weight most residential mortgages, increase the credit conversion factor for certain commitments with an original maturity of one year or less, assess a charge for early amortizations in securitizations of revolving exposures, and remove the 50 percent limit on the risk weight for certain derivative transactions. A banking organization would have to apply all the proposed changes if it chose to use these revisions. Finally, in Section III of this NPR, the Agencies seek further comment on possible alternatives for implementing the ``International Convergence of Capital Measurement and Capital Standards: A Revised Framework'' (Basel II) in the United States as proposed in the Basel II NPR.
Risk-Based Capital Standards: Advanced Capital Adequacy Framework
Document Number: 06-9737
Type: Proposed Rule
Date: 2006-12-26
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
On September 25, 2006, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Board), the Federal Deposit Insurance Corporation (FDIC), and the Office of Thrift Supervision (OTS) (collectively, the agencies) issued a joint notice of proposed rulemaking for public comment that proposed a new risk-based capital adequacy framework (Basel II NPR). The Basel II NPR would require some and permit other qualifying banks \1\ to use an internal ratings-based approach to calculate regulatory credit risk capital requirements and advanced measurement approaches to calculate regulatory operational risk capital requirements. The Basel II NPR describes the qualifying criteria for banks required or seeking to operate under the proposed framework and the applicable risk-based capital requirements for banks that operate under the framework. The Basel II NPR comment period will end on January 23, 2007.
Proposed Agency Information Collection Activities; Comment Request
Document Number: 06-9736
Type: Notice
Date: 2006-12-26
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
In accordance with the requirements of the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35), the OCC, the Board, the FDIC, and the OTS (collectively, the agencies) may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The Federal Financial Institutions Examination Council (FFIEC), of which the agencies are members, approved the agencies' publication for public comment of proposed new regulatory reporting requirements for banks \1\ that qualify for and adopt the Advanced Capital Adequacy Framework to calculate their risk-based capital requirement or banks that are in the parallel run stage of qualifying to adopt this proposed framework. This notice extends the comment period on this document for consistency with the extension of the comment period for the notice of proposed rulemaking on the Advanced Capital Adequacy Framework, as published elsewhere in today's issue of the Federal Register.
Regulation of Fuels and Fuel Additives
Document Number: 06-55532
Type: Rule
Date: 2006-12-26
Agency: Environmental Protection Agency
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