Standards of Conduct for Transmission Providers; Order on Rehearing and Clarification, 60153-60154 [E9-27875]
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Federal Register / Vol. 74, No. 223 / Friday, November 20, 2009 / Rules and Regulations
Paragraph 39(d)(1).
1. Identification of covered person. Section
226.39(d)(1) requires acquiring parties to
provide their name, address, and telephone
number. The party identified must be the
covered person who owns the mortgage loan,
regardless of whether another party has been
appointed to service the loan or otherwise
serve as the covered person’s agent. In
addition to providing a postal address and a
telephone number, the covered person may,
at its option, provide an address for receiving
electronic mail or an internet web site
address but is not required to do so.
Paragraph 39(d)(3).
1. Identifying agents. Under § 226.39(d)(3),
the covered person must provide contact
information for the agent or other party
having authority to act on behalf of the
covered person and who is authorized to
receive legal notices on behalf of the covered
person and resolve issues concerning the
consumer’s payments on the loan. Section
226.39(d)(3) does not require that a covered
person designate an agent or other party, but
if the consumer cannot use the covered
person’s contact information for these
purposes the disclosure must provide contact
information for an agent or other party that
can address these matters. If multiple agents
are listed on the disclosure, the disclosure
shall state the extent to which the authority
of each agent differs by indicating if only one
of the agents is authorized to receive legal
notices, or only one of the agents is
authorized to resolve issues concerning
payments. For purposes of § 226.39(d)(3), it
is sufficient to provide a telephone number
as the contact information provided that
consumers can use the telephone number to
obtain the mailing address for the agent or
other person identified.
2. Other contact information. The covered
person may also provide an agent’s electronic
mail address or internet web site address but
is not required to do so.
Paragraph 39(d)(4).
1. Recording location. Section 226.39(d)(4)
requires disclosure of the location where
transfer of ownership of the debt to the
covered person is recorded. If the transfer of
ownership has not been recorded in public
records at the time the disclosure is
provided, the covered person complies with
§ 226.39(d)(4) by stating this fact. Whether or
not the transfer has been recorded at the time
the disclosure is made, the disclosure may
state that the transfer ‘‘is or may be recorded’’
at the specified location.
2. Postal address not required. In
disclosing the location where the transfer of
ownership is recorded, the covered person is
not required to provide a postal address for
the governmental office where the covered
person’s ownership interest is recorded. The
covered person also is not required to
provide the name of the county or
jurisdiction where the property is located.
For example, it would be sufficient to
disclose that the transaction is or may be
recorded in the office of public land records
or the recorder of deeds office ‘‘for the county
or local jurisdiction where the property is
located.’’
39(e) Optional disclosures.
1. Generally. Section 226.39(e) provides
that covered persons may, at their option,
VerDate Nov<24>2008
15:06 Nov 19, 2009
Jkt 220001
include additional information about the
mortgage transaction that they consider
relevant or helpful to consumers. For
example, the covered person may choose to
inform consumers that the location where
they should send mortgage payments has not
changed.
By order of the Board of Governors of the
Federal Reserve System, November 13, 2009.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E9–27742 Filed 11–19–09; 8:45 am]
BILLING CODE 6210–01–P
Federal Energy Regulatory
Commission
18 CFR Part 358
[Docket No. RM07–1–002; Order No. 717–
B]
Standards of Conduct for
Transmission Providers; Order on
Rehearing and Clarification
Issued November 16, 2009.
AGENCY: Federal Energy Regulatory
Commission.
ACTION: Order on rehearing and
clarification.
SUMMARY: The Federal Energy
Regulatory Commission (Commission)
issued Order No. 717–A to make even
clearer the Standards of Conduct as
implemented by Order No. 717. This
order addresses requests for rehearing
and clarification concerning paragraph
80 of Order No. 717–A and whether an
employee who is not making business
decisions about contract non-price
terms and conditions is considered a
‘‘marketing function employee.’’
DATES: Effective Date: This rule will
become effective November 23, 2009.
FOR FURTHER INFORMATION CONTACT:
Leonard Tao, Office of the General
Counsel—Energy Markets, Federal
Energy Regulatory Commission, 888
First Street, NE., Washington, DC 20426,
(202) 502–8214.
SUPPLEMENTARY INFORMATION:
129 FERC ¶ 61,123
Before Commissioners: Jon Wellinghoff,
Chairman; Suedeen G. Kelly, Marc Spitzer,
and Philip D. Moeller.
I. Introduction
1. On October 16, 2008, the
Commission issued Order No. 717
amending the Standards of Conduct for
Transmission Providers (the Standards
of Conduct or the Standards) to make
them clearer and to refocus the rules on
the areas where there is the greatest
Frm 00027
Fmt 4700
Sfmt 4700
potential for abuse.1 On October 15,
2009, the Commission issued Order No.
717–A to address requests for rehearing
and clarification of Order No. 717,
largely affirming the reforms adopted in
Order No. 717.2 In this order, the
Commission grants limited rehearing
and clarification to address certain
specific matters petitioners raised
regarding one of the Commission’s
determinations in Order No. 717–A.
II. Discussion
Independent Functioning Rule:
Marketing Function Employees
2. In paragraph 80 of Order No. 717–
A, the Commission stated the following:
DEPARTMENT OF ENERGY
PO 00000
60153
The Commission clarifies that an employee
in the legal, finance or regulatory division of
a jurisdictional entity, whose intermittent
day-to-day duties include the drafting and
redrafting of non-price terms and conditions
of, or exemptions to, umbrella agreements is
a ‘‘marketing function employee.’’
‘‘Marketing functions’’ are not limited to only
price terms and conditions of a contract,
because non-price terms and conditions of a
contract could contain information that an
affiliate could use to its advantage. For
example, delivery or hub locations in a
contract are non-price terms that could be
used to favor an affiliate. In addition,
negotiated terms and conditions could affect
the substantive rights of the parties. For this
reason, we decline to make a generic finding
to limit ‘‘marketing functions’’ to only price
terms and conditions, but will consider
waiver requests concerning an employee
whose intermittent duties involve drafting
non-price terms and conditions.3
Requests for Rehearing and Clarification
3. Several parties have requested
expedited clarification regarding
paragraph 80 of Order No. 717–A.4
Specifically, EEI and Western Utilities
request that the Commission clarify that
legal, finance, and regulatory personnel
can be shared between an entity’s
transmission and marketing function
units.5 Similarly, Otter Tail and Central
Vermont seek clarification that lawyers,
finance, and regulatory personnel may
continue to provide support to
1 Standards of Conduct for Transmission
Providers, Order No. 717, 73 FR 63796 (Oct. 27,
2008), FERC Stats. & Regs. ¶ 31,280 (2008) (‘‘Order
No. 717’’).
2 Standards of Conduct for Transmission
Providers, Order No. 717–A, 74 FR 54463 (Oct. 22,
2009), FERC Stats. & Regs. ¶ 31,297 (2009) (‘‘Order
No. 717–A’’).
3 Order No. 717–A at P 80.
4 Edison Electric Institute (EEI) Oct. 30, 2009
Request for Clarification at 7; The Western Utilities
Compliance Group (Western Utilities) Nov. 2, 2009
Request for Clarification at 6; Otter Tail Power
Company (Otter Tail) Nov. 10, 2009 Request for
Clarification at 1; Central Vermont Public Service
Corporation (Central Vermont) Nov. 12, 2009
Request for Clarification at 1.
5 EEI at 7; Western Utilities at 6.
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Federal Register / Vol. 74, No. 223 / Friday, November 20, 2009 / Rules and Regulations
marketing function employees,
including drafting and redrafting
contract non-price terms, without being
classified as marketing function
employees.6
4. EEI also requests clarification that
paragraph 80 in Order No. 717–A was
‘‘intended to convey that making
business decisions about non-price
terms and conditions can be a marketing
function if the other ‘marketing
function’ criteria are met.’’ 7
5. If the Commission does not grant
these requested clarifications prior to
Order No. 717–A taking effect, EEI,
Western Utilities, Otter Tail, and Central
Vermont request that the Commission
change the effective date of paragraph
80 until 90 days after the Commission
issues an order addressing the merits of
the issue.
dcolon on DSKHWCL6B1PROD with RULES
Commission Determination
6. The Commission clarifies that the
language in paragraph 80 of Order No.
717–A was overly broad. The
Commission further clarifies that we
intended to state in paragraph 80 of
Order No. 717–A that an employee
making business decisions about nonprice terms and conditions can be
considered a ‘‘marketing function
employee’’ because that employee is
actively and personally engaged in
marketing functions. However, an
employee who simply drafts or redrafts
a contract, including non-price terms
and conditions, without making
business decisions is not a ‘‘marketing
function employee.’’ In making our
findings in paragraph 80 in Order No.
717–A, the Commission did not intend
to depart from the finding in paragraph
131 in Order No. 717 that employees are
not subject to the Independent
Functioning Rule if they do not perform
transmission functions or marketing
functions or to depart from the
following examples in P 131:
[I]f an attorney is rendering legal advice, he
may consult with both transmission function
employees and marketing function
employees. Likewise, a risk management
employee may develop risk guidelines for
both transmission function employees and
marketing function employees. And
regulatory personnel may present before
regulatory bodies filings that cover both
transmission and marketing issues. Of
course, all such employees would remain
subject to the No Conduit Rule, and are
prohibited from transmitting transmission
function information to marketing function
employees.8
7. In light of the above clarification to
paragraph 80 of Order No. 717–A, we
6 Otter
Tail at 1; Central Vermont at 1.
at 7–8.
8 Order No. 717 at P 131.
7 EEI
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15:06 Nov 19, 2009
Jkt 220001
will deny the petitioners’ request to
extend the compliance date with respect
to paragraph 80.
implement an updated water audit
approach to identify and control water
loss in the Basin.
DATES: Effective Date: November 20,
III. Document Availability
2009. The incorporation by reference of
8. In addition to publishing the full
the publications listed in this rule is
text of this document in the Federal
approved by the Director of the Federal
Register, the Commission provides all
Register as of November 20, 2009.
interested persons an opportunity to
Applicability Date: Commencing
view and/or print the contents of this
January 1, 2012, the owners of water
document via the Internet through
supply systems serving the public with
FERC’s Home Page (https://www.ferc.gov) sources or service areas located in the
and in FERC’s Public Reference Room
Delaware River Basin must implement
during normal business hours (8:30 a.m. an annual calendar year water audit
to 5 p.m. Eastern time) at 888 First
program conforming to the IWA/AWWA
Street, NE., Room 2A, Washington, DC
Water Audit Methodology and
20426.
corresponding AWWA guidance.
9. From FERC’s Home Page on the
Commencing January 1, 2013, reported
Internet, this information is available on ‘‘non-revenue water’’ must be computed
eLibrary. The full text of this document
in accordance with the new
is available on eLibrary in PDF and
methodology and guidance.
Microsoft Word format for viewing,
FOR FURTHER INFORMATION CONTACT:
printing, and/or downloading. To access
Pamela M. Bush, Commission Secretary
this document in eLibrary, type the
and Assistant General Counsel by
docket number excluding the last three
phoning 609–883–9500 Ext. 203, or by
digits of this document in the docket
e-mail to Pamela.Bush@drbc.state.nj.us.
number field.
SUPPLEMENTARY INFORMATION: The
10. User assistance is available for
eLibrary and the FERC’s Web site during Delaware River Basin Commission
(‘‘Commission’’ or ‘‘DRBC’’) is a federalnormal business hours from FERC
state regional agency charged with
Online Support at 202–502–6652 (toll
managing the water resources of the
free at 1–866–208–3676) or e-mail at
Delaware River Basin without regard to
ferconlinesupport@ferc.gov, or the
political boundaries. Its members are
Public Reference Room at (202) 502–
the governors of the four basin states—
8371, TTY (202) 502–8659. E-mail the
Delaware, New Jersey, New York, and
Public Reference Room at
Pennsylvania—and the North Atlantic
public.referenceroom@ferc.gov.
Division Commander of the U.S. Army
IV. Effective Date
Corps of Engineers, representing the
federal government.
11. Changes to Order No. 717–A
Notice of the proposed amendments
adopted in this order on rehearing and
appeared in the Federal Register (73 FR
clarification are effective November 23,
44945) on August 1, 2008 as well as in
2009.
the Delaware Register of Regulations on
By the Commission.
September 1, 2008 (12 DE Reg. 275–278
Kimberly D. Bose,
(09/01/2008)), the New Jersey Register
Secretary.
(40 N.J.R. 4499) on August 4, 2008, the
[FR Doc. E9–27875 Filed 11–19–09; 8:45 am]
New York State Register (page 2) on
August 20, 2008 and the Pennsylvania
BILLING CODE 6717–01–P
Bulletin (38 Pa. B. 4373) on August 9,
2008.
The amendments to the
DELAWARE RIVER BASIN
Comprehensive Plan and Article 2 of the
COMMISSION
Water Code finalized by the
18 CFR Part 410
Commission on March 11, 2009 phase
in a program requiring water purveyors
Amendments to the Water Code and
to perform a water audit and report their
Comprehensive Plan To Implement a
findings in accordance with a new audit
Revised Water Audit Approach To
structure established by the American
Identify and Control Water Loss
Water Works Association (AWWA) and
the International Water Association
AGENCY: Delaware River Basin
(IWA). Effective January 1, 2012, the
Commission.
owners of water supply systems serving
ACTION: Final rule.
the public with sources or service areas
SUMMARY: By Resolution No. 2009–01 on located in the Delaware River Basin
must implement an annual calendar
March 11, 2009, the Delaware River
year water audit program conforming to
Basin Commission (‘‘Commission’’ or
the IWA/AWWA Water Audit
‘‘DRBC’’) approved amendments to its
Water Code and Comprehensive Plan to Methodology and corresponding
PO 00000
Frm 00028
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E:\FR\FM\20NOR1.SGM
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]]>Agencies
[Federal Register Volume 74, Number 223 (Friday, November 20, 2009)]
[Rules and Regulations]
[Pages 60153-60154]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-27875]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF ENERGY
Federal Energy Regulatory Commission
18 CFR Part 358
[Docket No. RM07-1-002; Order No. 717-B]
Standards of Conduct for Transmission Providers; Order on
Rehearing and Clarification
Issued November 16, 2009.
AGENCY: Federal Energy Regulatory Commission.
ACTION: Order on rehearing and clarification.
-----------------------------------------------------------------------
SUMMARY: The Federal Energy Regulatory Commission (Commission) issued
Order No. 717-A to make even clearer the Standards of Conduct as
implemented by Order No. 717. This order addresses requests for
rehearing and clarification concerning paragraph 80 of Order No. 717-A
and whether an employee who is not making business decisions about
contract non-price terms and conditions is considered a ``marketing
function employee.''
DATES: Effective Date: This rule will become effective November 23,
2009.
FOR FURTHER INFORMATION CONTACT: Leonard Tao, Office of the General
Counsel--Energy Markets, Federal Energy Regulatory Commission, 888
First Street, NE., Washington, DC 20426, (202) 502-8214.
SUPPLEMENTARY INFORMATION:
129 FERC ] 61,123
Before Commissioners: Jon Wellinghoff, Chairman; Suedeen G. Kelly,
Marc Spitzer, and Philip D. Moeller.
I. Introduction
1. On October 16, 2008, the Commission issued Order No. 717
amending the Standards of Conduct for Transmission Providers (the
Standards of Conduct or the Standards) to make them clearer and to
refocus the rules on the areas where there is the greatest potential
for abuse.\1\ On October 15, 2009, the Commission issued Order No. 717-
A to address requests for rehearing and clarification of Order No. 717,
largely affirming the reforms adopted in Order No. 717.\2\ In this
order, the Commission grants limited rehearing and clarification to
address certain specific matters petitioners raised regarding one of
the Commission's determinations in Order No. 717-A.
---------------------------------------------------------------------------
\1\ Standards of Conduct for Transmission Providers, Order No.
717, 73 FR 63796 (Oct. 27, 2008), FERC Stats. & Regs. ] 31,280
(2008) (``Order No. 717'').
\2\ Standards of Conduct for Transmission Providers, Order No.
717-A, 74 FR 54463 (Oct. 22, 2009), FERC Stats. & Regs. ] 31,297
(2009) (``Order No. 717-A'').
---------------------------------------------------------------------------
II. Discussion
Independent Functioning Rule: Marketing Function Employees
2. In paragraph 80 of Order No. 717-A, the Commission stated the
following:
The Commission clarifies that an employee in the legal, finance
or regulatory division of a jurisdictional entity, whose
intermittent day-to-day duties include the drafting and redrafting
of non-price terms and conditions of, or exemptions to, umbrella
agreements is a ``marketing function employee.'' ``Marketing
functions'' are not limited to only price terms and conditions of a
contract, because non-price terms and conditions of a contract could
contain information that an affiliate could use to its advantage.
For example, delivery or hub locations in a contract are non-price
terms that could be used to favor an affiliate. In addition,
negotiated terms and conditions could affect the substantive rights
of the parties. For this reason, we decline to make a generic
finding to limit ``marketing functions'' to only price terms and
conditions, but will consider waiver requests concerning an employee
whose intermittent duties involve drafting non-price terms and
conditions.\3\
---------------------------------------------------------------------------
\3\ Order No. 717-A at P 80.
---------------------------------------------------------------------------
Requests for Rehearing and Clarification
3. Several parties have requested expedited clarification regarding
paragraph 80 of Order No. 717-A.\4\ Specifically, EEI and Western
Utilities request that the Commission clarify that legal, finance, and
regulatory personnel can be shared between an entity's transmission and
marketing function units.\5\ Similarly, Otter Tail and Central Vermont
seek clarification that lawyers, finance, and regulatory personnel may
continue to provide support to
[[Page 60154]]
marketing function employees, including drafting and redrafting
contract non-price terms, without being classified as marketing
function employees.\6\
---------------------------------------------------------------------------
\4\ Edison Electric Institute (EEI) Oct. 30, 2009 Request for
Clarification at 7; The Western Utilities Compliance Group (Western
Utilities) Nov. 2, 2009 Request for Clarification at 6; Otter Tail
Power Company (Otter Tail) Nov. 10, 2009 Request for Clarification
at 1; Central Vermont Public Service Corporation (Central Vermont)
Nov. 12, 2009 Request for Clarification at 1.
\5\ EEI at 7; Western Utilities at 6.
\6\ Otter Tail at 1; Central Vermont at 1.
---------------------------------------------------------------------------
4. EEI also requests clarification that paragraph 80 in Order No.
717-A was ``intended to convey that making business decisions about
non-price terms and conditions can be a marketing function if the other
`marketing function' criteria are met.'' \7\
---------------------------------------------------------------------------
\7\ EEI at 7-8.
---------------------------------------------------------------------------
5. If the Commission does not grant these requested clarifications
prior to Order No. 717-A taking effect, EEI, Western Utilities, Otter
Tail, and Central Vermont request that the Commission change the
effective date of paragraph 80 until 90 days after the Commission
issues an order addressing the merits of the issue.
Commission Determination
6. The Commission clarifies that the language in paragraph 80 of
Order No. 717-A was overly broad. The Commission further clarifies that
we intended to state in paragraph 80 of Order No. 717-A that an
employee making business decisions about non-price terms and conditions
can be considered a ``marketing function employee'' because that
employee is actively and personally engaged in marketing functions.
However, an employee who simply drafts or redrafts a contract,
including non-price terms and conditions, without making business
decisions is not a ``marketing function employee.'' In making our
findings in paragraph 80 in Order No. 717-A, the Commission did not
intend to depart from the finding in paragraph 131 in Order No. 717
that employees are not subject to the Independent Functioning Rule if
they do not perform transmission functions or marketing functions or to
depart from the following examples in P 131:
[I]f an attorney is rendering legal advice, he may consult with
both transmission function employees and marketing function
employees. Likewise, a risk management employee may develop risk
guidelines for both transmission function employees and marketing
function employees. And regulatory personnel may present before
regulatory bodies filings that cover both transmission and marketing
issues. Of course, all such employees would remain subject to the No
Conduit Rule, and are prohibited from transmitting transmission
function information to marketing function employees.\8\
---------------------------------------------------------------------------
\8\ Order No. 717 at P 131.
7. In light of the above clarification to paragraph 80 of Order No.
717-A, we will deny the petitioners' request to extend the compliance
date with respect to paragraph 80.
III. Document Availability
8. In addition to publishing the full text of this document in the
Federal Register, the Commission provides all interested persons an
opportunity to view and/or print the contents of this document via the
Internet through FERC's Home Page (https://www.ferc.gov) and in FERC's
Public Reference Room during normal business hours (8:30 a.m. to 5 p.m.
Eastern time) at 888 First Street, NE., Room 2A, Washington, DC 20426.
9. From FERC's Home Page on the Internet, this information is
available on eLibrary. The full text of this document is available on
eLibrary in PDF and Microsoft Word format for viewing, printing, and/or
downloading. To access this document in eLibrary, type the docket
number excluding the last three digits of this document in the docket
number field.
10. User assistance is available for eLibrary and the FERC's Web
site during normal business hours from FERC Online Support at 202-502-
6652 (toll free at 1-866-208-3676) or e-mail at
ferconlinesupport@ferc.gov, or the Public Reference Room at (202) 502-
8371, TTY (202) 502-8659. E-mail the Public Reference Room at
public.referenceroom@ferc.gov.
IV. Effective Date
11. Changes to Order No. 717-A adopted in this order on rehearing
and clarification are effective November 23, 2009.
By the Commission.
Kimberly D. Bose,
Secretary.
[FR Doc. E9-27875 Filed 11-19-09; 8:45 am]
BILLING CODE 6717-01-P
