Disclosure to Participants, 2615-2616 [E7-761]
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Federal Register / Vol. 72, No. 13 / Monday, January 22, 2007 / Rules and Regulations
supervision of at least one SRO.’’ 6 The
Commission invites interested persons
to read the Proposing Release for a fuller
discussion of the purpose of the
amendment contained in the Proposal.
D. The Comments on the Proposal
The Commission received two
comment letters on the Proposal. One
was from NFA, which expressed
support for the amendment. The other
was from legal counsel representing
clients who would be affected by the
Proposal in the event the Commission
adopted it. This latter commenter
requested that, in the event the
Commission adopted the Proposal, the
Commission make the amendment
effective 60 days after publication in the
Federal Register. The additional 30
days was requested ‘‘in order to provide
an orderly time for transition and permit
sufficient time for registrants affected by
the proposed amendment to determine
their future course of action if the
proposed amendment is approved.’’
In response, the Commission notes
that, as an agency of the Federal
Government, in adopting regulations, it
is subject to the provisions of the
Administrative Procedure Act. Among
other things, this means that, in the
absence of certain specified
circumstances, the Commission may not
make a substantive regulation effective
earlier than 30 days before the
regulation is published in the Federal
Register.7 Thus, the Commission
typically makes its substantive
regulations effective 30 days after the
date on which the regulation is
published in the Federal Register. With
respect to the instant matter, the
Commission believes that 30 days is
sufficient time to achieve compliance
with the amended regulation, given the
reasons cited by the commenter.
Accordingly, the Commission has
determined to adopt the amendment to
Regulation 170.15(a) as proposed and to
make the amendment effective 30 days
after publication in the Federal
Register.
sroberts on PROD1PC70 with RULES
II. Related Matters
A. Regulatory Flexibility Act
The Regulatory Flexibility Act 8
requires that agencies, in issuing
regulations, consider the impact of those
regulations on small businesses. The
amended Regulation would affect
persons that are registered as FCMs,
even if they are not required to be so
registered. The Commission has
previously established certain
definitions of ‘‘small entities’’ to be used
by the Commission in evaluating the
impact of its regulations on such entities
in accordance with the Regulatory
Flexibility Act.9 The Commission
previously determined that registered
FCMs are not small entities for the
purpose of the Regulatory Flexibility
Act.10
The Commission did not receive any
public comments relative to its analysis
of the application of the Regulatory
Flexibility Act to the Proposal.
B. Cost-Benefit Analysis
Section 15(a) of the Act 11 requires the
Commission to consider the costs and
benefits of its action before issuing a
new regulation under the Act. By its
terms, Section 15(a) does not require the
Commission to quantify the costs and
benefits of a new regulation or to
determine whether the benefits of the
proposed regulation outweigh its costs.
Rather, Section 15(a) simply requires
the Commission to ‘‘consider the costs
and benefits’’ of its action.
Section 15(a) further specifies that
costs and benefits shall be evaluated in
light of five broad areas of market and
public concern: (1) Protection of market
participants and the public; (2)
efficiency, competitiveness, and
financial integrity of futures markets; (3)
price discovery; (4) sound risk
management practices; and (5) other
public interest considerations. The
Commission, in its discretion, can
choose to give greater weight to any one
of the five enumerated areas and
determine that, notwithstanding its
costs, a particular regulation is
necessary or appropriate to protect the
public interest or to effectuate any of the
provisions or to accomplish any of the
purposes of the Act.
The Proposal contained an analysis of
the Commission’s consideration of these
costs and benefits and solicited public
comment thereon.12 The Commission
did not receive any public comments
relative to its cost-benefit analysis of the
Proposal.
List of Subjects in 17 CFR Part 170
Authority delegations (Government
agencies), Commodity futures,
Reporting and recordkeeping
requirements.
I For the reasons discussed in the
preamble, the Commission hereby
amends Chapter I of Title 17 of the Code
of Federal Regulations as follows:
9 47
FR 18618 (Apr. 30, 1982).
at 18619.
11 7 U.S.C. 19(a).
12 71 FR at 64172–73.
6 71
FR at 64172.
7 See 5 U.S.C. 553(d).
8 5 U.S.C. 601 et seq.
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15:59 Jan 19, 2007
10 Id.
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2615
PART 170—REGISTERED FUTURES
ASSOCIATIONS
1. The authority citation for part 170
continues to read as follows:
I
Authority: 7 U.S.C. 6p, 12a and 21, as
amended by the Commodity Futures
Modernization Act of 2000, Appendix E of
Pub. L. 106–554, 114 Stat. 2763 (2000).
2. Section 170.15 is amended by
revising paragraph (a) to read as follows:
I
§ 170.15
Futures commission merchants.
(a) Except as provided in paragraph
(b) of this section, each person
registered as a futures commission
merchant must become and remain a
member of at least one futures
association that is registered under
section 17 of the Act and that provides
for the membership therein of such
futures commission merchant, unless no
such futures association is so registered.
*
*
*
*
*
Issued in Washington, DC, on January 16,
2007, by the Commission.
Eileen A. Donovan,
Acting Secretary of the Commission.
[FR Doc. E7–805 Filed 1–19–07; 8:45 am]
BILLING CODE 6351–01–P
PENSION BENEFIT GUARANTY
CORPORATION
29 CFR Part 4011
RIN 1212–AB12
Disclosure to Participants
Pension Benefit Guaranty
Corporation.
ACTION: Final rule; technical
amendment.
AGENCY:
SUMMARY: Section 4011 of ERISA
requires certain underfunded plans to
notify participants of plan funding
status and the limits on the PBGC’s
guarantee. The Pension Protection Act
of 2006 repealed section 4011 for plan
years beginning after 2006 and replaced
the disclosure requirement under that
section with a disclosure requirement
under Title I of ERISA. This rule
amends PBGC’s regulation on
Disclosure to Participants to reflect that
statutory change.
DATES: Effective Date: January 22, 2007.
FOR FURTHER INFORMATION CONTACT: John
H. Hanley, Director, Legislative and
Regulatory Department; or Catherine B.
Klion, Manager, Regulatory and Policy
Division, Legislative and Regulatory
Department, Pension Benefit Guaranty
Corporation, 1200 K Street, NW.,
Washington DC 20005–4026; 202–326–
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2616
Federal Register / Vol. 72, No. 13 / Monday, January 22, 2007 / Rules and Regulations
4024. (TTY/TDD users may call the
Federal relay service toll-free at 1–800–
877–8339 and ask to be connected to
202–326–4024.)
Section
4011 of ERISA requires certain
underfunded plans to give an annual
notice to participants of plan funding
status and the limits on the PBGC’s
guarantee. The PBGC’s implementing
regulations are at 29 CFR part 4011.
On August 17, 2006, the President
signed into law the Pension Protection
Act of 2006, Public Law 109–280 (PPA
2006). Section 501 of PPA 2006 repealed
section 4011 of ERISA for plan years
beginning after 2006 and replaced the
disclosure requirement under that
section with a disclosure requirement
under Title I of ERISA (under the
jurisdiction of the Department of Labor).
The PBGC is amending its regulation
implementing section 4011 of ERISA to
reflect that statutory change. Section
4011 continues to apply for plan years
beginning on or after January 1, 1995,
and before January 1, 2007.
Because this rule is simply a technical
amendment that conforms PBGC’s
regulation to the statutory change, PBGC
has determined that notice and public
comment on this amendment are
unnecessary. Further, because the
statutory change is effective for plan
years beginning after 2006, PBGC finds
good cause for making this amendment
effective immediately.
The PBGC has determined that this
action is not a ‘‘significant regulatory
action’’ under the criteria set forth in
Executive Order 12866. Because no
general notice of proposed rulemaking
is required for this amendment, the
Regulatory Flexibility Act of 1980 does
not apply. See 5 U.S.C. 601(2).
SUPPLEMENTARY INFORMATION:
List of Subjects in 29 CFR Part 4011
Employee benefit plans, Reporting
and disclosure requirements.
For the reasons given above, 29 CFR
part 4011 is amended as follows.
I
PART 4011—DISCLOSURE TO
PARTICIPANTS
sroberts on PROD1PC70 with RULES
Authority: 29 U.S.C. 1302(b)(3), 1311.
2. Section 4011.1 is amended by
adding the words ‘‘and on or before
December 31, 2006,’’ after the words
‘‘January 1, 1995,’’.
I
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BILLING CODE 7709–01–P
DEPARTMENT OF HOMELAND
SECURITY
Coast Guard
33 CFR Part 117
[CGD07–05–097]
RIN 1625–AA09
Drawbridge Operation Regulation; Gulf
Intracoastal Waterway, Anna Maria, FL
Coast Guard, DHS.
ACTION: Final rule.
AGENCY:
SUMMARY: The Coast Guard is changing
the operating regulations governing the
Cortez (SR 684) Bridge and the Anna
Maria (SR 64) (Manatee Avenue West)
Bridge across the Gulf Intracoastal
Waterway, miles 87.4 and 89.2 in Anna
Maria, Manatee County, Florida. This
rule will require the drawbridges to
open on signal, except during daytime
hours when the bridge will be on a 30minute schedule during the winter
months and a 20-minute schedule for all
other months.
DATES: This rule is effective February
21, 2007.
ADDRESSES: Comments and material
received from the public, as well as
documents indicated in this preamble as
being available in the docket, are part of
dockets (CGD07–05–097) and (Public
Meeting CGD07–06–012) and are
available for inspection or copying at
Commander (dpb), Seventh Coast Guard
District, 909 SE. 1st Avenue, Room 432,
Miami, Florida 33131–3050 between 8
a.m. and 4:30 p.m., Monday through
Friday, except Federal holidays.
FOR FURTHER INFORMATION CONTACT: Mr.
Michael Lieberum, Seventh Coast Guard
District, Bridge Branch, telephone
number 305–415–6744.
SUPPLEMENTARY INFORMATION:
Regulatory Information
1. The authority citation for part 4011
continues to read as follows:
I
Issued in Washington, DC, this 16th day of
January, 2007.
Vincent K. Snowbarger,
Interim Director, Pension Benefit Guaranty
Corporation.
[FR Doc. E7–761 Filed 1–19–07; 8:45 am]
On August 16, 2005, we published a
notice of proposed rulemaking (NPRM)
entitled ‘‘Drawbridge Operation
Regulations; Gulf Intracoastal
Waterway, Anna Maria, FL’’ in the
Federal Register (70 FR 48091). We
received 28 comments on the proposed
rule. On January 31, 2006, we published
an announcement of a public meeting
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entitled ‘‘Announcement of Public
Meeting Regarding the Proposed
Drawbridge Schedule Change for the
Anna Maria and Cortez Drawbridge,
Anna Maria, FL,’’ in the Federal
Register (71 FR 5033). The public
meeting was held on March 29, 2006 at
Holmes Beach City Hall, 5801 Marina
Drive, Holmes Beach, Florida.
On November 8, 2006, as a result of
the previous comments received, we
published a supplemental notice of
proposed rulemaking (SNPRM) entitled
‘‘Drawbridge Operation Regulations;
Gulf Intracoastal Waterway, Anna
Maria, FL’’ in the Federal Register (71
FR 65443). We received two comments
on this proposed rule; one in favor of
the proposed schedule and one against
the new schedule.
Background and Purpose
The existing regulations of the Cortez
(SR 684) Bridge, mile 87.4, and Anna
Maria (SR 64) Bridge, mile 89.2 at Anna
Maria, published in 33 CFR
117.287(d)(1) and (2) require the draw to
open on signal, except that from 7 a.m.
to 6 p.m., the draw need open only on
the hour, twenty minutes past the hour
and forty minutes past the hour if
vessels are present.
On June 1, 2005, the City officials of
Holmes Beach in cooperation with the
cities of Anna Maria and Bradenton
Beach and the Town of Longboat Key
requested that the Coast Guard review
the existing regulations governing the
operation of the Cortez and Anna Maria
(Manatee Avenue West) bridges. The
review was requested by city officials
because they believed the current
drawbridge regulations were not
meeting the needs of vehicle traffic.
This rule is necessary to assist the
local community in determining
additional corrective action that may be
needed to alleviate the severe vehicle
traffic congestion on Anna Maria Island
during the winter season.
Discussion of Comments and Changes
The Coast Guard received 45
responses to the initial Notice of
Proposed Rulemaking and at the Public
Meeting convened on March 29, 2006.
The responses were supplied by 30
written comments and 15 oral
comments and several persons provided
more than one comment per letter or
verbally. These responses consisted of
11 form letters in favor of the proposal,
six additional comments also in favor of
the proposal, seven comments against
the morning and afternoon curfew
hours, six comments against the
nighttime closures, two comments
requesting staggered hours between the
two bridges rather than both opening on
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]]>Agencies
[Federal Register Volume 72, Number 13 (Monday, January 22, 2007)]
[Rules and Regulations]
[Pages 2615-2616]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-761]
=======================================================================
-----------------------------------------------------------------------
PENSION BENEFIT GUARANTY CORPORATION
29 CFR Part 4011
RIN 1212-AB12
Disclosure to Participants
AGENCY: Pension Benefit Guaranty Corporation.
ACTION: Final rule; technical amendment.
-----------------------------------------------------------------------
SUMMARY: Section 4011 of ERISA requires certain underfunded plans to
notify participants of plan funding status and the limits on the PBGC's
guarantee. The Pension Protection Act of 2006 repealed section 4011 for
plan years beginning after 2006 and replaced the disclosure requirement
under that section with a disclosure requirement under Title I of
ERISA. This rule amends PBGC's regulation on Disclosure to Participants
to reflect that statutory change.
DATES: Effective Date: January 22, 2007.
FOR FURTHER INFORMATION CONTACT: John H. Hanley, Director, Legislative
and Regulatory Department; or Catherine B. Klion, Manager, Regulatory
and Policy Division, Legislative and Regulatory Department, Pension
Benefit Guaranty Corporation, 1200 K Street, NW., Washington DC 20005-
4026; 202-326-
[[Page 2616]]
4024. (TTY/TDD users may call the Federal relay service toll-free at 1-
800-877-8339 and ask to be connected to 202-326-4024.)
SUPPLEMENTARY INFORMATION: Section 4011 of ERISA requires certain
underfunded plans to give an annual notice to participants of plan
funding status and the limits on the PBGC's guarantee. The PBGC's
implementing regulations are at 29 CFR part 4011.
On August 17, 2006, the President signed into law the Pension
Protection Act of 2006, Public Law 109-280 (PPA 2006). Section 501 of
PPA 2006 repealed section 4011 of ERISA for plan years beginning after
2006 and replaced the disclosure requirement under that section with a
disclosure requirement under Title I of ERISA (under the jurisdiction
of the Department of Labor). The PBGC is amending its regulation
implementing section 4011 of ERISA to reflect that statutory change.
Section 4011 continues to apply for plan years beginning on or after
January 1, 1995, and before January 1, 2007.
Because this rule is simply a technical amendment that conforms
PBGC's regulation to the statutory change, PBGC has determined that
notice and public comment on this amendment are unnecessary. Further,
because the statutory change is effective for plan years beginning
after 2006, PBGC finds good cause for making this amendment effective
immediately.
The PBGC has determined that this action is not a ``significant
regulatory action'' under the criteria set forth in Executive Order
12866. Because no general notice of proposed rulemaking is required for
this amendment, the Regulatory Flexibility Act of 1980 does not apply.
See 5 U.S.C. 601(2).
List of Subjects in 29 CFR Part 4011
Employee benefit plans, Reporting and disclosure requirements.
0
For the reasons given above, 29 CFR part 4011 is amended as follows.
PART 4011--DISCLOSURE TO PARTICIPANTS
0
1. The authority citation for part 4011 continues to read as follows:
Authority: 29 U.S.C. 1302(b)(3), 1311.
0
2. Section 4011.1 is amended by adding the words ``and on or before
December 31, 2006,'' after the words ``January 1, 1995,''.
Issued in Washington, DC, this 16th day of January, 2007.
Vincent K. Snowbarger,
Interim Director, Pension Benefit Guaranty Corporation.
[FR Doc. E7-761 Filed 1-19-07; 8:45 am]
BILLING CODE 7709-01-P
