Direct Investment Surveys: BE-577, Direct Transactions of U.S. Reporter With Foreign Affiliate, 35388-35389 [E6-9608]
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35388
Federal Register / Vol. 71, No. 118 / Tuesday, June 20, 2006 / Rules and Regulations
DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
15 CFR Part 806
[Docket No. 060131020–6152–02]
RIN 0691–AA57
Direct Investment Surveys: BE–577,
Direct Transactions of U.S. Reporter
With Foreign Affiliate
Bureau of Economic Analysis,
Commerce.
ACTION: Final rule.
AGENCY:
SUMMARY: This final rule amends
regulations of the Department of
Commerce, Bureau of Economic
Analysis (BEA), for the quarterly BE–
577, Direct Transactions of U.S.
Reporter With Foreign Affiliate.
The BE–577 survey is conducted
quarterly and is a sample survey that
obtains data on transactions and
positions between U.S.-owned foreign
business enterprises and their U.S.
parents. To address the current needs of
data users while at the same time
keeping the respondent burden as low
as possible, BEA is modifying, adding,
or deleting items on the survey form and
in the reporting criteria. The changes
will bring the BE–577 form and related
instructions into conformity with the
2004 BE–10, Benchmark Survey of U.S.
Direct Investment Abroad and will
exclude data that have recently begun to
be collected on other Government
surveys.
This final rule will be effective
July 20, 2006.
FOR FURTHER INFORMATION CONTACT: Obie
G. Whichard, Chief, International
Investment Division (BE–50), Bureau of
Economic Analysis, U.S. Department of
Commerce, Washington, DC 20230;
phone (202) 606–9890 or e-mail
(obie.whichard@bea.gov).
DATES:
In the
March 1, 2006, Federal Register, 71 FR
10454, BEA published a notice of
proposed rulemaking setting forth
revised reporting requirements for the
BE–577, Direct Transactions of U.S.
Reporter With Foreign Affiliate. No
comments on the proposed rule were
received. Thus, the proposed rule is
adopted without change. This final rule
amends 15 CFR 806.14 to set forth the
reporting requirements for the BE–577,
Direct Transactions of U.S. Reporter
With Foreign Affiliate.
wwhite on PROD1PC61 with RULES
SUPPLEMENTARY INFORMATION:
Description of Changes
The BE–577, Direct Transactions Of
U.S. Reporter With Foreign Affiliate, is
VerDate Aug<31>2005
15:58 Jun 19, 2006
Jkt 208001
a mandatory survey and is conducted
quarterly by BEA under the
International Investment and Trade in
Services Survey Act (22 U.S.C. 3101–
3108). BEA will send BE–577 survey
forms to potential respondents each
quarter; responses will be due within 30
days after the close of each fiscal
quarter, except for the final quarter of
the fiscal year, when reports will be due
within 45 days.
The final rule increases the exemption
level for reporting on the BE–577 from
$30 million to $40 million. The
exemption level is stated in terms of the
foreign affiliate’s assets, sales, and net
income.
In addition to the change in the
reporting criteria mentioned above, BEA
is introducing a few changes to the
survey form and instructions. BEA is:
(1) Revising the survey form and
instructions to bring them into
conformity with the most recent BE–10
benchmark survey instructions for
reporting capital gains and losses; (2)
collecting information on payments to
and receipts from foreign affiliates for
interest, royalties and license fees and
other private services gross of any taxes
withheld to align reporting of these
items with current international
statistical standards for balance of
payments accounts (previously, this
information was collected net of taxes
withheld); (3) modifying the survey
instructions to indicate that positions
and transactions in financial derivatives
contracts that are reported on or derived
from the Treasury Department’s recently
instituted International Capital Form D,
Report of Holdings of, and Transactions
in, Financial Derivatives Contracts with
Foreign Residents should be excluded
from BE–577 reports; and (4) removing
the requirement for reporting certain
affiliated insurance transactions that
have been problematic to collect on the
BE–577. BEA plans to move the
reporting requirement for these
transactions to specialized services
surveys that BEA conducts in the near
future.
Survey Background
BEA will conduct the survey under
the International Investment and Trade
in Services Survey Act (22 U.S.C. 3101–
3108), hereinafter, ‘‘the Act.’’ Title 22
United States Code, Section 3103(a)(1)
of the Act requires that with respect to
United States direct investment abroad,
the President shall conduct a data
collection program to obtain current
information on international capital
flows and other information related to
international investment and trade in
services including information that may
be necessary for computing and
PO 00000
Frm 00016
Fmt 4700
Sfmt 4700
analyzing the United States balance of
payments, the employment and taxes of
United States parents and affiliates, and
the international investment and trade
in services position of the United States.
In Section 3 of Executive Order
11961, the President delegated authority
granted under the Act as concerns direct
investment to the Secretary of
Commerce, who has redelegated it to
BEA. The quarterly survey of U.S. direct
investment abroad is a sample survey
that covers all foreign affiliates above a
size-exemption level. The survey
collects data on transactions and
positions between U.S.-owned foreign
business enterprises and their U.S.
parents. The sample data are used to
derive quarterly universe estimates from
similar data reported in the BE–10,
Benchmark Survey of U.S. Direct
Investment Abroad, which is taken
every five years. The data are used in
the preparation of the U.S. international
transactions accounts, input-output
accounts, and national income and
product accounts. The data are needed
to measure the size and economic
significance of U.S. direct investment
abroad, measure changes in such
investment, and assess its impact on the
U.S. and foreign economies. The data
are disaggregated by country and
industry of foreign affiliate.
Executive Order 12866
This final rule has been determined to
be not significant for purposes of E. O.
12866.
Executive Order 13132
This final rule does not contain
policies with federalism implications
sufficient to warrant preparation of a
federalism assessment under E.O.
13132.
Paperwork Reduction Act
The collection-of-information in this
final rule has been approved by the
Office of Management and Budget
(OMB) under the Paperwork Reduction
Act (PRA).
Notwithstanding any other provisions
of the law, no person is required to
respond to, nor shall any person be
subject to a penalty for failure to comply
with, a collection-of-information subject
to the requirements of the Paperwork
Reduction Act unless that collection
displays a currently valid OMB control
number. The OMB control number for
the BE–577 is 0608–0004; the collection
will display the number.
The survey is expected to result in the
filing of about 13,500 foreign affiliate
reports by an estimated 1,500 U.S.
parent companies. The respondent
burden for this collection of information
E:\FR\FM\20JNR1.SGM
20JNR1
Federal Register / Vol. 71, No. 118 / Tuesday, June 20, 2006 / Rules and Regulations
is estimated to vary from 0.5 hour to 4
hours per response, with an average of
1.25 hours per response, including time
for reviewing instructions, searching
existing data sources, gathering and
maintaining the data needed, and
completing and reviewing the collection
of information. Because reports are filed
4 times per year, 54,000 responses
annually are expected. Thus, the total
annual respondent burden of the survey
is estimated at 67,500 hours (13,500
respondents times 4 times 1.25 hours
average burden). This estimate is the
same as the burden hours currently
carried for this collection in the OMB
inventory.
Comments regarding the burden
estimate or any other aspect of this
collection of information should be
addressed to: Director, Bureau of
Economic Analysis (BE–1), U.S.
Department of Commerce, Washington,
DC 20230, fax: 202–606–5311; and the
Office of Management and Budget,
O.I.R.A., Paperwork Reduction Project
0608–0004, Attention PRA Desk Officer
for BEA, via the Internet at
pbugg@omb.eop.gov, or by fax at 202–
395–7245.
Regulatory Flexibility Act
The Chief Counsel for Regulation,
Department of Commerce, has certified
to the Chief Counsel for Advocacy,
Small Business Administration, under
the provisions of the Regulatory
Flexibility Act (5 U.S.C. 605(b)), that
this rule will not have a significant
economic impact on a substantial
number of small entities. The factual
basis for the certification was published
in the proposed rule and is not repeated
here. No comments were received
regarding the economic impact of the
rule. As a result, no final regulatory
flexibility analysis was prepared.
List of Subjects in 15 CFR Part 806
International transactions, Economic
statistics, U.S. investment abroad,
Penalties, Reporting and recordkeeping
requirements.
Dated: May 26, 2006.
J. Steven Landefeld,
Director, Bureau of Economic Analysis.
For the reasons set forth in the
preamble, BEA is amending 15 CFR part
806 as follows:
I
wwhite on PROD1PC61 with RULES
PART 806—DIRECT INVESTMENT
SURVEYS
1. The authority citation for 15 CFR
part 806 continues to read as follows:
I
Authority: 5 U.S.C. 301; 22 U.S.C. 3101–
3108; E.O. 11961 (3 CFR, 1977 Comp., p. 86),
as amended by E.O. 12318 (3 CFR, 1981
VerDate Aug<31>2005
15:58 Jun 19, 2006
Jkt 208001
Comp., p. 173); E.O. 12518 (3 CFR, 1985
Comp., p. 348).
§ 806.14
[Amended]
2. Section 806.14 (e) is amended by
removing ‘‘$30,000,000’’ and adding
‘‘$40,000,000’’ in its place.
I
[FR Doc. E6–9608 Filed 6–19–06; 8:45 am]
BILLING CODE 3510–06–P
DEPARTMENT OF DEFENSE
Office of the Secretary
32 CFR Part 199
[Docket No. DoD–2006–HA–0143]
RIN 0720–0057
Civilian Health and Medical Program of
the Uniformed Services (CHAMPUS)/
TRICARE; Coverage of Phase II and
Phase III Clinical Trials Sponsored by
the National Institutes of Health
National Cancer Institute
Office of the Secretary, DoD.
Final rule.
AGENCY:
ACTION:
SUMMARY: The final rule allows the
Department of Defense to waive normal
requirements so that covered
beneficiaries can participate in Phase II
and Phase III clinical trials sponsored or
approved by the National Institutes of
Health National Cancer Institute (NIH
NCI). This waiver authority is expected
to promote beneficiary access to
promising new treatments and
contribute to the development of such
treatments.
DATES:
This rule is effective July 20,
2006.
TRICARE Management
Activity (TMA), Medical Benefits and
Reimbursement System, 16301 East
Centretech Parkway, Aurora, CO 80011–
9066
FOR FURTHER INFORMATION CONTACT:
Debra Hatzel, Medical Benefits and
Reimbursement Systems, TMA,
telephone (303) 676-3572. Questions
regarding payment of specific claims
under TRICARE should be addressed to
the appropriate TRICARE contractor.
SUPPLEMENTARY INFORMATION:
ADDRESSES:
I. Background
This final rule implements Title 10,
United States Code, section 1079(a)(13)
which provides for a waiver of the
general prohibition on coverage of
unproven medical treatments or
procedures in connection with clinical
trials sponsored or approved by the
National Institutes of Health National
Cancer Institute. This waiver is
PO 00000
Frm 00017
Fmt 4700
Sfmt 4700
35389
contingent upon the Secretary of
Defense’s determination that a waiver
will promote access to promising new
treatments and contribute to the
development of such treatments. Based
on the improved beneficiary access to
these trials, and the contributions to the
development of such treatments, it is in
the best interest of the Department and
its beneficiaries to continue to provide
access through an authorized waiver as
outlined in the proposed rule.
Clinical trials are the major avenue for
discovering, developing, and evaluating
new cancer therapies, and clinical trial
participants are among the first to
receive new cancer prevention or
treatment methods before they are
widely available. Many significant
medical discoveries in this field have
occurred as a direct result of clinical
trial participation. For example, because
of survival improvements seen in an
NCI-sponsored clinical trial, early
initiation of hormonal therapy has
become the standard of care in nodepositive prostrate cancer patients. Even
when they do not lead to new therapies,
clinical trials often answer important
questions and help move research
forward so that others may prevent or
survive this disease.
Cancer treatment trials may include
testing new drugs, new approaches to
surgery or radiation therapy, new
combinations of treatments, or new
methods such as gene therapy. Studies
that involve drugs or invasive
procedures are categorized by phase.
Phase I trials evaluate new cancer drugs
to determine what dose is safe, how a
new agent should be administered (by
mouth, injected into a vein, or injected
into the muscle), and how frequently
the treatment should be given. After
safety parameters have been established,
Phase II trials are conducted to assess
the effectiveness of an agent or
intervention against a specific type of
cancer. Phase III trials compare effective
treatments from Phase II studies to
conventional cancer treatments. Clinical
trials offer high quality care for cancer
prevention and treatment, and no
patient ever receives a placebo
(substance with active ingredients)
when effective care exists.
The Department of Defense (DoD) and
the National Cancer Institute (NCI)
established a partnership in 1994 to
conduct a demonstration project that
allowed patients with breast cancer to
participate in NCI-sponsored bone
marrow transplant clinical trials. This
demonstration project expanded in 1996
to include all cancers and NCIsponsored Phase II and III cancer
treatment clinical trials. The DoD–NCI
demonstration partnership was further
E:\FR\FM\20JNR1.SGM
20JNR1
]]>Agencies
[Federal Register Volume 71, Number 118 (Tuesday, June 20, 2006)]
[Rules and Regulations]
[Pages 35388-35389]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-9608]
[[Page 35388]]
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DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
15 CFR Part 806
[Docket No. 060131020-6152-02]
RIN 0691-AA57
Direct Investment Surveys: BE-577, Direct Transactions of U.S.
Reporter With Foreign Affiliate
AGENCY: Bureau of Economic Analysis, Commerce.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: This final rule amends regulations of the Department of
Commerce, Bureau of Economic Analysis (BEA), for the quarterly BE-577,
Direct Transactions of U.S. Reporter With Foreign Affiliate.
The BE-577 survey is conducted quarterly and is a sample survey
that obtains data on transactions and positions between U.S.-owned
foreign business enterprises and their U.S. parents. To address the
current needs of data users while at the same time keeping the
respondent burden as low as possible, BEA is modifying, adding, or
deleting items on the survey form and in the reporting criteria. The
changes will bring the BE-577 form and related instructions into
conformity with the 2004 BE-10, Benchmark Survey of U.S. Direct
Investment Abroad and will exclude data that have recently begun to be
collected on other Government surveys.
DATES: This final rule will be effective July 20, 2006.
FOR FURTHER INFORMATION CONTACT: Obie G. Whichard, Chief, International
Investment Division (BE-50), Bureau of Economic Analysis, U.S.
Department of Commerce, Washington, DC 20230; phone (202) 606-9890 or
e-mail (obie.whichard@bea.gov).
SUPPLEMENTARY INFORMATION: In the March 1, 2006, Federal Register, 71
FR 10454, BEA published a notice of proposed rulemaking setting forth
revised reporting requirements for the BE-577, Direct Transactions of
U.S. Reporter With Foreign Affiliate. No comments on the proposed rule
were received. Thus, the proposed rule is adopted without change. This
final rule amends 15 CFR 806.14 to set forth the reporting requirements
for the BE-577, Direct Transactions of U.S. Reporter With Foreign
Affiliate.
Description of Changes
The BE-577, Direct Transactions Of U.S. Reporter With Foreign
Affiliate, is a mandatory survey and is conducted quarterly by BEA
under the International Investment and Trade in Services Survey Act (22
U.S.C. 3101-3108). BEA will send BE-577 survey forms to potential
respondents each quarter; responses will be due within 30 days after
the close of each fiscal quarter, except for the final quarter of the
fiscal year, when reports will be due within 45 days.
The final rule increases the exemption level for reporting on the
BE-577 from $30 million to $40 million. The exemption level is stated
in terms of the foreign affiliate's assets, sales, and net income.
In addition to the change in the reporting criteria mentioned
above, BEA is introducing a few changes to the survey form and
instructions. BEA is: (1) Revising the survey form and instructions to
bring them into conformity with the most recent BE-10 benchmark survey
instructions for reporting capital gains and losses; (2) collecting
information on payments to and receipts from foreign affiliates for
interest, royalties and license fees and other private services gross
of any taxes withheld to align reporting of these items with current
international statistical standards for balance of payments accounts
(previously, this information was collected net of taxes withheld); (3)
modifying the survey instructions to indicate that positions and
transactions in financial derivatives contracts that are reported on or
derived from the Treasury Department's recently instituted
International Capital Form D, Report of Holdings of, and Transactions
in, Financial Derivatives Contracts with Foreign Residents should be
excluded from BE-577 reports; and (4) removing the requirement for
reporting certain affiliated insurance transactions that have been
problematic to collect on the BE-577. BEA plans to move the reporting
requirement for these transactions to specialized services surveys that
BEA conducts in the near future.
Survey Background
BEA will conduct the survey under the International Investment and
Trade in Services Survey Act (22 U.S.C. 3101-3108), hereinafter, ``the
Act.'' Title 22 United States Code, Section 3103(a)(1) of the Act
requires that with respect to United States direct investment abroad,
the President shall conduct a data collection program to obtain current
information on international capital flows and other information
related to international investment and trade in services including
information that may be necessary for computing and analyzing the
United States balance of payments, the employment and taxes of United
States parents and affiliates, and the international investment and
trade in services position of the United States.
In Section 3 of Executive Order 11961, the President delegated
authority granted under the Act as concerns direct investment to the
Secretary of Commerce, who has redelegated it to BEA. The quarterly
survey of U.S. direct investment abroad is a sample survey that covers
all foreign affiliates above a size-exemption level. The survey
collects data on transactions and positions between U.S.-owned foreign
business enterprises and their U.S. parents. The sample data are used
to derive quarterly universe estimates from similar data reported in
the BE-10, Benchmark Survey of U.S. Direct Investment Abroad, which is
taken every five years. The data are used in the preparation of the
U.S. international transactions accounts, input-output accounts, and
national income and product accounts. The data are needed to measure
the size and economic significance of U.S. direct investment abroad,
measure changes in such investment, and assess its impact on the U.S.
and foreign economies. The data are disaggregated by country and
industry of foreign affiliate.
Executive Order 12866
This final rule has been determined to be not significant for
purposes of E. O. 12866.
Executive Order 13132
This final rule does not contain policies with federalism
implications sufficient to warrant preparation of a federalism
assessment under E.O. 13132.
Paperwork Reduction Act
The collection-of-information in this final rule has been approved
by the Office of Management and Budget (OMB) under the Paperwork
Reduction Act (PRA).
Notwithstanding any other provisions of the law, no person is
required to respond to, nor shall any person be subject to a penalty
for failure to comply with, a collection-of-information subject to the
requirements of the Paperwork Reduction Act unless that collection
displays a currently valid OMB control number. The OMB control number
for the BE-577 is 0608-0004; the collection will display the number.
The survey is expected to result in the filing of about 13,500
foreign affiliate reports by an estimated 1,500 U.S. parent companies.
The respondent burden for this collection of information
[[Page 35389]]
is estimated to vary from 0.5 hour to 4 hours per response, with an
average of 1.25 hours per response, including time for reviewing
instructions, searching existing data sources, gathering and
maintaining the data needed, and completing and reviewing the
collection of information. Because reports are filed 4 times per year,
54,000 responses annually are expected. Thus, the total annual
respondent burden of the survey is estimated at 67,500 hours (13,500
respondents times 4 times 1.25 hours average burden). This estimate is
the same as the burden hours currently carried for this collection in
the OMB inventory.
Comments regarding the burden estimate or any other aspect of this
collection of information should be addressed to: Director, Bureau of
Economic Analysis (BE-1), U.S. Department of Commerce, Washington, DC
20230, fax: 202-606-5311; and the Office of Management and Budget,
O.I.R.A., Paperwork Reduction Project 0608-0004, Attention PRA Desk
Officer for BEA, via the Internet at pbugg@omb.eop.gov, or by fax at
202-395-7245.
Regulatory Flexibility Act
The Chief Counsel for Regulation, Department of Commerce, has
certified to the Chief Counsel for Advocacy, Small Business
Administration, under the provisions of the Regulatory Flexibility Act
(5 U.S.C. 605(b)), that this rule will not have a significant economic
impact on a substantial number of small entities. The factual basis for
the certification was published in the proposed rule and is not
repeated here. No comments were received regarding the economic impact
of the rule. As a result, no final regulatory flexibility analysis was
prepared.
List of Subjects in 15 CFR Part 806
International transactions, Economic statistics, U.S. investment
abroad, Penalties, Reporting and recordkeeping requirements.
Dated: May 26, 2006.
J. Steven Landefeld,
Director, Bureau of Economic Analysis.
0
For the reasons set forth in the preamble, BEA is amending 15 CFR part
806 as follows:
PART 806--DIRECT INVESTMENT SURVEYS
0
1. The authority citation for 15 CFR part 806 continues to read as
follows:
Authority: 5 U.S.C. 301; 22 U.S.C. 3101-3108; E.O. 11961 (3 CFR,
1977 Comp., p. 86), as amended by E.O. 12318 (3 CFR, 1981 Comp., p.
173); E.O. 12518 (3 CFR, 1985 Comp., p. 348).
Sec. 806.14 [Amended]
0
2. Section 806.14 (e) is amended by removing ``$30,000,000'' and adding
``$40,000,000'' in its place.
[FR Doc. E6-9608 Filed 6-19-06; 8:45 am]
BILLING CODE 3510-06-P
