Business Opportunity Rule, 31124-31125 [E6-8546]

Download as PDF 31124 Federal Register / Vol. 71, No. 105 / Thursday, June 1, 2006 / Proposed Rules (1) Be reasonably designed to assure that retained records are complete and accurate; (2) Be reasonably designed to assure that the format of retained records and the retention period— (i) Are adequate to support litigation and the administrative, business, external and internal audit functions of the Enterprise; (ii) Comply with requirements of applicable laws and regulations; and (iii) Permit ready access by the Enterprise and, upon request, by the examination and other staff of OFHEO; (3) Assign in writing authorities and responsibilities for record retention activities; (4) Include policies and procedures concerning record holds, consistent with § 1732.7; (5) Include an accurate, current, and comprehensive record retention schedule that lists records by major categories, subcategories, record type, and retention period, which retention period is appropriate to the specific record and consistent with applicable legal, regulatory, fiscal, and administrative requirements; (6) Include adequate security and internal controls to protect records from unauthorized access and data alteration; and (7) Provide for adequate back-up and recovery of electronic records. (b) Training. The record retention program shall provide for training of and notice to all employees on a periodic basis on their record retention responsibilities, including instruction regarding penalties provided by law for the unlawful removal or destruction of records. mstockstill on PROD1PC68 with PROPOSALS § 1732.7 Record hold. (a) Definition. For purposes of this part, the term ‘‘record hold’’ means a requirement, an order, or a directive from an Enterprise or OFHEO that the Enterprise is to retain records relating to a particular issue in connection with an actual or a potential OFHEO examination, investigation, enforcement proceeding, or litigation. (b) Notification by Enterprise. The record retention program of an Enterprise shall: (1) Address how all employees will receive prompt notification of a record hold; (2) Designate an individual to communicate specific requirements and instructions, including, when necessary, the instruction to cease immediately any otherwise permissible destruction of records; and (3) Provide that any employee who is aware of a potential investigation, VerDate Aug<31>2005 15:19 May 31, 2006 Jkt 208001 enforcement proceeding, or litigation by OFHEO involving the Enterprise or an employee shall notify immediately the legal department of the Enterprise and shall retain any records that may be relevant in any way to such investigation, enforcement proceeding, or litigation. (c) Method of record retention. The record retention program of an Enterprise shall address the method by which an Enterprise will retain records during a record hold. Specifically, the program shall describe the method for the continued preservation of electronic records, including e-mails, and the conversion of records from paper to electronic format as well as any alternative storage method. (d) Access to and retrieval of records. The record retention program of an Enterprise shall ensure access to and retrieval of records by an Enterprise and access, upon request, by OFHEO, during a record hold. §§ 1732.8—1732.9 [Reserved] Subpart C—Supervisory Action § 1732.10 Supervisory action. (a) Supervisory action. Failure by an Enterprise to comply with this part may subject the Enterprise or the board members, officers, or employees thereof to supervisory action by OFHEO under the Act, including but not limited to cease-and-desist proceedings, temporary cease-and-desist proceedings, and civil money penalties. (b) No limitation of authority. This part does not limit or restrict the authority of OFHEO to act under its safety and soundness mandate, in accordance with the Act. Such authority includes, but is not limited to, conducting examinations, requiring reports and disclosures, and enforcing compliance with applicable laws, rules, and regulations. Dated: May 24, 2006. James B. Lockhart III, Acting Director, Office of Federal Housing Enterprise Oversight. [FR Doc. E6–8491 Filed 5–31–06; 8:45 am] BILLING CODE 4220–01–P FEDERAL TRADE COMMISSION SUMMARY: In a Federal Register notice published on April 12, 2006, 71 FR 19054, the FTC requested comment on its Notice of Proposed Rulemaking in connection with the Business Opportunity Rule. The Notice stated that comments must be submitted on or before June 16, 2006, and that rebuttal comments must be submitted on or before July 7, 2006. In response to a request for an extension of the comment period received on May 5, 2006, the Commission has extended the comment period for one additional month. DATES: Comments addressing the Business Opportunity Rule Notice of Proposed Rulemaking must be submitted on or before July 17, 2006. Rebuttal comments must be submitted on or before August 7, 2006. ADDRESSES: Interested parties are invited to submit written comments. Comments should refer to ‘‘Business Opportunity Rule, R511993’’ to facilitate the organization of comments. A comment filed in paper form should include this reference both in the text and on the envelope, and should be mailed or delivered, with two complete copies, to the following address: Federal Trade Commission/Office of the Secretary, Room H–135 (Annex W), 600 Pennsylvania Avenue, NW., Washington, DC 20580. The FTC is requesting that any comment filed in paper form be sent by courier or overnight service, if possible, because U.S. postal mail in the Washington area and at the Commission is subject to delay due to heightened security precautions. Moreover, because paper mail in the Washington area and at the Agency is subject to delay, please consider submitting your comments in electronic form, as prescribed below. Comments containing confidential material, however, must be filed in paper form, must be clearly labeled ‘‘Confidential,’’ and must comply with Commission Rule 4.9(c).1 Comments filed in electronic form should be submitted by clicking on the following Web link: https:// secure.commentworks.com/ftcbizopNPR/ and following the instructions on the web-based form. To ensure that the Commission considers an electronic comment, you must file it on the web-based form at the https:// secure.commentworks.com/ftc- 16 CFR Part 437 Business Opportunity Rule Federal Trade Commission. Extension of period to submit comments in response to the Notice of Proposed Rulemaking. AGENCY: ACTION: PO 00000 Frm 00016 Fmt 4702 Sfmt 4702 1 The comment must be accompanied by an explicit request for confidential treatment, including the factual and legal basis for the request, and must identify the specific portions of the comment to be withheld from the public record. The request will be granted or denied by the Commission’s General Counsel, consistent with applicable law and the public interest. See Commission Rule 4.9(c), 16 CFR 4.9(c). E:\FR\FM\01JNP1.SGM 01JNP1 mstockstill on PROD1PC68 with PROPOSALS Federal Register / Vol. 71, No. 105 / Thursday, June 1, 2006 / Proposed Rules bizopNPR/ Web link. If this notice appears at https://www.regulations.gov, you may also file an electronic comment through that Web site. The Commission will consider all comments that regulations.gov forwards to it. You may also visit the FTC Web site at https:// www.ftc.gov/opa/2006/04/ newbizopprule.htm to read the Notice of Proposed Rulemaking and the news release describing this proposed Rule. FOR FURTHER INFORMATION CONTACT: Steven Toporoff, (202) 326–3135, Division of Marketing Practices, Room 288, Bureau of Consumer Protection, Federal Trade Commission, 600 Pennsylvania Avenue, NW., Washington, DC 20580. SUPPLEMENTARY INFORMATION: On April 12, 2006, the Commission published a Notice of Proposed Rulemaking in connection with a Business Opportunity Rule. In that Notice, the Commission solicited comment on a variety of topics including the proposed definitions, the scope of the proposed Rule, and the proposed disclosures and prohibitions. The Notice stated that the period for submitting initial comments would close on June 16, 2006, and that the period for submitting rebuttal comments would close on July 7, 2006. On May 5, 2006, the Commission received a letter from the Direct Selling Association (‘‘DSA’’) requesting that the Commission extend the comment period for 90 days. DSA asserts that the proposed Rule ‘‘could have a dramatic negative impact on the direct selling community.’’ DSA, however, does not identify any specific provision of the proposed Rule that might have such an effect, nor does it advance any other facts from which the Commission can assess DSA’s claim that, in effect, it would need a total of five months to formulate its comment. Without a more detailed and persuasive explanation as to why the petitioner needs so much more time, the Commission is not persuaded that such an extension is justified in view of the need to avoid unnecessary delay in this proceeding. The Commission believes that a 30day extension should be sufficient to enable DSA and all other commenters to prepare and submit comments in response to the proposed Rule. Accordingly, the Commission has determined to extend the comment period set forth in the Notice until July 17, 2006, for initial comments and until August 7, 2006, for rebuttal comments. By direction of the Commission. Donald S. Clark, Secretary. [FR Doc. E6–8546 Filed 5–31–06; 8:45 am] BILLING CODE 6750–01–P VerDate Aug<31>2005 16:21 May 31, 2006 Jkt 208001 DEPARTMENT OF ENERGY Federal Energy Regulatory Commission 18 CFR Parts 366, 367, 368, 369 and 375 [Docket No. RM06–11–000] Financial Accounting, Reporting and Records Retention Requirements Under the Public Utility Holding Company Act of 2005 May 19, 2006. Federal Energy Regulatory Commission, DOE. ACTION: Notice of Proposed Rulemaking: Notice of Change in Date for Technical Conference. AGENCY: SUMMARY: On April 21, 2006, the Commission issued Notice of Proposed Rulemaking in the above-docketed proceeding concerning Financial Accounting, Reporting and Records Retention Requirements Under the Public Utility Holding Company Act of 2005. (71 FR 28464 (2006). The Commission is rescheduling the date of the technical conference which is being held pursuant to the directives of the April 24, 2006, Notice of Proposed Rulemaking. 31125 Commission staff in preparing a final rule in this proceeding. Interested persons wishing to participate in the technical conference are asked to notify Commission staff electronically at https://www.ferc.gov/ whats-new/registration/usoa-06–21speaker-form.asp by June 15, 2006. Prospective attendees and participants are urged to watch for further notices; a detailed agenda will be issued in advance of the conference. FERC conferences and meetings are accessible under section 508 of the Rehabilitation Act of 1973. For accessibility accommodations please send an e-mail to accessibility@ferc.gov or call toll free (866) 208–3372 (voice) or (202) 502–8659 (TTY), or send a fax to (202) 208–2106 with the required accommodations. Questions about the conference should be directed to: Julia A. Lake, Office of the General Counsel—Energy Markets and Reliability, Federal Energy Regulatory Commission, 888 First Street, NE., Washington, DC 20426. (202) 502–8370. Julia.lake@ferc.gov. Magalie R. Salas, Secretary. [FR Doc. 06–4999 Filed 5–31–06; 8:45 am] BILLING CODE 6717–01–P DATES: The conference previously scheduled for June 21, 2006 is rescheduled for July 11, 2006. DEPARTMENT OF HOMELAND SECURITY Julia A. Lake, Office of the General Counsel— Energy Markets and Reliability, Federal Energy Regulatory Commission, 888 First Street, NE., Washington, DC 20426. (202) 502–8370. Julia.lake@ferc.gov. SUPPLEMENTARY INFORMATION: On April 21, 2006, the Federal Energy Regulatory Commission (Commission) announced a staff technical conference in the above-referenced proceeding to be held at the Federal Energy Regulatory Commission, 888 First Street, NE., Washington, DC 20426 in the Commission Meeting Room on June 21, 2006, from 9 a.m. until 4:30 p.m. EDT. This conference has now been rescheduled for July 11, 2006. All interested persons are invited to attend. There is no registration fee to attend. The purpose of the conference remains the same. It is to identify the issues associated with the proposed Uniform System of Accounts for Centralized Service Companies, the proposed records retention requirements for holding companies and service companies, and the revised Form No. 60. The technical conference will develop information for use by Bureau of Customs and Border Protection FOR FURTHER INFORMATION CONTACT: PO 00000 Frm 00017 Fmt 4702 Sfmt 4702 DEPARTMENT OF THE TREASURY 19 CFR Part 12 [USCBP–2006–0020] RIN 1505–AB68 Entry of Certain Cement Products From Mexico Requiring a Commerce Department Import License Customs and Border Protection (DHS); Treasury. ACTION: Notice of proposed rulemaking. AGENCY: SUMMARY: This document proposes to amend title 19 of the Code of Federal Regulations to set forth special requirements for the entry of certain cement products from Mexico requiring a United States Department of Commerce import license. The cement products in question are those listed in the Agreement on Trade in Cement, entered into between the Office of the United States Trade Representative, the United States Department of Commerce, and Mexico’s Secretaria de Economia, E:\FR\FM\01JNP1.SGM 01JNP1

Agencies

[Federal Register Volume 71, Number 105 (Thursday, June 1, 2006)]
[Proposed Rules]
[Pages 31124-31125]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-8546]


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FEDERAL TRADE COMMISSION

16 CFR Part 437


Business Opportunity Rule

AGENCY: Federal Trade Commission.

ACTION: Extension of period to submit comments in response to the 
Notice of Proposed Rulemaking.

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SUMMARY: In a Federal Register notice published on April 12, 2006, 71 
FR 19054, the FTC requested comment on its Notice of Proposed 
Rulemaking in connection with the Business Opportunity Rule. The Notice 
stated that comments must be submitted on or before June 16, 2006, and 
that rebuttal comments must be submitted on or before July 7, 2006. In 
response to a request for an extension of the comment period received 
on May 5, 2006, the Commission has extended the comment period for one 
additional month.

DATES: Comments addressing the Business Opportunity Rule Notice of 
Proposed Rulemaking must be submitted on or before July 17, 2006. 
Rebuttal comments must be submitted on or before August 7, 2006.

ADDRESSES: Interested parties are invited to submit written comments. 
Comments should refer to ``Business Opportunity Rule, R511993'' to 
facilitate the organization of comments. A comment filed in paper form 
should include this reference both in the text and on the envelope, and 
should be mailed or delivered, with two complete copies, to the 
following address: Federal Trade Commission/Office of the Secretary, 
Room H-135 (Annex W), 600 Pennsylvania Avenue, NW., Washington, DC 
20580. The FTC is requesting that any comment filed in paper form be 
sent by courier or overnight service, if possible, because U.S. postal 
mail in the Washington area and at the Commission is subject to delay 
due to heightened security precautions. Moreover, because paper mail in 
the Washington area and at the Agency is subject to delay, please 
consider submitting your comments in electronic form, as prescribed 
below. Comments containing confidential material, however, must be 
filed in paper form, must be clearly labeled ``Confidential,'' and must 
comply with Commission Rule 4.9(c).\1\
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    \1\ The comment must be accompanied by an explicit request for 
confidential treatment, including the factual and legal basis for 
the request, and must identify the specific portions of the comment 
to be withheld from the public record. The request will be granted 
or denied by the Commission's General Counsel, consistent with 
applicable law and the public interest. See Commission Rule 4.9(c), 
16 CFR 4.9(c).
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    Comments filed in electronic form should be submitted by clicking 
on the following Web link: https://secure.commentworks.com/ftc-
bizopNPR/ and following the instructions on the web-based form. To 
ensure that the Commission considers an electronic comment, you must 
file it on the web-based form at the https://secure.commentworks.com/
ftc-

[[Page 31125]]

bizopNPR/ Web link. If this notice appears at https://
www.regulations.gov, you may also file an electronic comment through 
that Web site. The Commission will consider all comments that 
regulations.gov forwards to it. You may also visit the FTC Web site at 
https://www.ftc.gov/opa/2006/04/newbizopprule.htm to read the Notice of 
---------------------------------------------------------------------------
Proposed Rulemaking and the news release describing this proposed Rule.

FOR FURTHER INFORMATION CONTACT: Steven Toporoff, (202) 326-3135, 
Division of Marketing Practices, Room 288, Bureau of Consumer 
Protection, Federal Trade Commission, 600 Pennsylvania Avenue, NW., 
Washington, DC 20580.

SUPPLEMENTARY INFORMATION: On April 12, 2006, the Commission published 
a Notice of Proposed Rulemaking in connection with a Business 
Opportunity Rule. In that Notice, the Commission solicited comment on a 
variety of topics including the proposed definitions, the scope of the 
proposed Rule, and the proposed disclosures and prohibitions. The 
Notice stated that the period for submitting initial comments would 
close on June 16, 2006, and that the period for submitting rebuttal 
comments would close on July 7, 2006.
    On May 5, 2006, the Commission received a letter from the Direct 
Selling Association (``DSA'') requesting that the Commission extend the 
comment period for 90 days. DSA asserts that the proposed Rule ``could 
have a dramatic negative impact on the direct selling community.'' DSA, 
however, does not identify any specific provision of the proposed Rule 
that might have such an effect, nor does it advance any other facts 
from which the Commission can assess DSA's claim that, in effect, it 
would need a total of five months to formulate its comment. Without a 
more detailed and persuasive explanation as to why the petitioner needs 
so much more time, the Commission is not persuaded that such an 
extension is justified in view of the need to avoid unnecessary delay 
in this proceeding.
    The Commission believes that a 30-day extension should be 
sufficient to enable DSA and all other commenters to prepare and submit 
comments in response to the proposed Rule. Accordingly, the Commission 
has determined to extend the comment period set forth in the Notice 
until July 17, 2006, for initial comments and until August 7, 2006, for 
rebuttal comments.

    By direction of the Commission.
Donald S. Clark,
Secretary.
 [FR Doc. E6-8546 Filed 5-31-06; 8:45 am]
BILLING CODE 6750-01-P