Delegation of Authority to the Director of Its Division of Enforcement, 54464-54465 [2010-22241]

Download as PDF 54464 Federal Register / Vol. 75, No. 173 / Wednesday, September 8, 2010 / Rules and Regulations We are issuing this AD to prevent the pump from exceeding the fuel pressure, which could result in engine malfunction or a massive fuel leak. These conditions could cause loss of control of the airplane or a fire. Actions and Compliance (e) Unless already done, do the following actions. (1) At the next maintenance, or within the next 25 hours of engine operation, whichever occurs first, after the effective date of this AD, remove affected fuel pumps, P/Ns 892230, 892232, 892235, 892236, 892540, or 892545. (2) After the effective date of this AD, do not install fuel pump, P/Ns 892230, 892232, 892235, 892236, 892540, or 892545, on any engine. FAA AD Differences (f) This AD differs from the MCAI and/or service information as follows: The MCAI requires replacing an affected fuel pump with fuel pump, P/N 892542 or 892546. This AD requires replacement of an affected fuel pump with a fuel pump eligible for installation on the airplane. (g) Alternative Methods of Compliance (AMOCs): The Manager, Engine Certification Office, FAA, has the authority to approve AMOCs for this AD, if requested using the procedures found in 14 CFR 39.19. Related Information (h) Refer to MCAI AD 2007–0060R1–E, dated April 20, 2007, and Rotax Aircraft Engines Service Bulletin SB–912–053, dated April 13, 2007, for related information. Contact BRP–Rotax GmbH & Co. KG, Welser Strasse 32, A–4623 Gunskirchen, Austria, or go to: https://www.rotax-aircraftengines.com/, for a copy of this service information. (i) Contact Alan Strom, Aerospace Engineer, Engine Certification Office, FAA, Engine and Propeller Directorate, 12 New England Executive Park, Burlington, MA 01803; e-mail: alan.strom@faa.gov; telephone (781) 238–7143; fax (781) 238–7199, for more information about this AD. Material Incorporated by Reference (j) None. Issued in Burlington, Massachusetts, on August 27, 2010. Thomas A. Boudreau, Acting Manager, Engine and Propeller Directorate, Aircraft Certification Service. mstockstill on DSKH9S0YB1PROD with RULES [FR Doc. 2010–22147 Filed 9–7–10; 8:45 am] BILLING CODE 4910–13–P 17:27 Sep 07, 2010 17 CFR Part 200 [Release No. 34–62821] Delegation of Authority to the Director of Its Division of Enforcement Securities and Exchange Commission. ACTION: Final rule. AGENCY: The Commission is amending its rules to delegate authority to the Director of the Division of Enforcement, in connection with the collection of delinquent debts arising from actions to enforce the federal securities laws, to terminate collection activity or discharge debts, to accept or reject offers to compromise debts, and to accept or reject offers to enter into payment plans. This action is intended to facilitate the Commission’s debt resolution process. DATES: Effective Date: September 8, 2010. SUMMARY: FOR FURTHER INFORMATION CONTACT: Other FAA AD Provisions VerDate Mar<15>2010 SECURITIES AND EXCHANGE COMMISSION Jkt 220001 Kenneth H. Hall, 202–551–4936, Office of Chief Counsel, Division of Enforcement, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–6553. SUPPLEMENTARY INFORMATION: The Division of Enforcement seeks actively to collect amounts imposed in the civil actions that it files in federal district court and in administrative proceedings; these amounts represent disgorgement of ill-gotten gains from violations of the Federal securities laws and civil penalties. The Division pursues debts through further litigation, including contempt proceedings, against the debtor, and is authorized to refer delinquent debts to the U.S. Department of the Treasury for administrative collection activity, including offset of debts against amounts otherwise owed by the government to the debtor and administrative garnishment of a debtor’s wages. Based upon a debtor’s financial condition, as substantiated by creditable evidence, the Commission may determine to accept a debtor’s offer to pay the debt in installments, or to compromise, i.e., satisfy the debt by payment of a lesser amount than the outstanding balance. In addition, when all reasonable steps have been taken to collect a debt, the Commission may authorize its staff to terminate collection activity or discharge the debt. Termination of collection activity preserves the debt as an obligation of the debtor, and does not bar future activity to collect the debt should that PO 00000 Frm 00004 Fmt 4700 Sfmt 4700 become practicable. Discharge of the debt is essentially a forgiveness of the debtor’s obligation to pay, which may have tax consequences for the debtor. The Commission is delegating to the Director of the Division of Enforcement the authority to resolve certain debts arising from actions to enforce the federal securities laws; in particular, the Director is authorized to terminate collection activity or discharge debts, to accept offers to compromise debts (when the principal amount of the debt is $5 million or less) or to reject any offers to compromise debts, and to accept or reject offers to enter into payment plans. This delegation will improve the efficiency of the Division’s debt collection program. In any case the Division Director deems appropriate, the recommendation that a debt be resolved through termination of collection activity, discharge or by payment plan or compromise, may be submitted to the Commission for review. Administrative Law Matters: The Commission finds, in accordance with section 553(b)(3)(A) of the Administrative Procedure Act (‘‘APA’’) (5 U.S.C. 553(b)(3)(A)) that this amendment relates solely to agency organization, procedure, or practice, and does not relate to a substantive rule. Accordingly, notice, opportunity for public comment, and publication of the amendment prior to its effective date are unnecessary. For the same reason, and because this amendment does not substantively affect the rights or obligations of non-agency parties, the provisions of the Small Business Regulatory Enforcement Fairness Act, 5 U.S.C. 804(3)(C), are not applicable. Additionally, the provisions of the Regulatory Flexibility Act, which apply only when notice and comment are required by the APA or other law, 5 U.S.C. 603, are not applicable. Section 23(a)(2) of the Securities Exchange Act of 1934, 15 U.S.C. 78w(a)(2), requires the Commission, in adopting rules under that Act, to consider the anticompetitive effects of any rules it adopts. The Commission does not believe that the amendment the Commission is adopting today will have any impact on competition. Finally, this amendment does not contain any collection of information requirements as defined by the Paperwork Reduction Act of 1980, as amended. List of Subjects in 17 CFR Part 200 Administrative practice and procedure, Authority delegations (Government agencies). E:\FR\FM\08SER1.SGM 08SER1 Federal Register / Vol. 75, No. 173 / Wednesday, September 8, 2010 / Rules and Regulations Text of Amendment For the reasons set out in the preamble, Title 17, Chapter II of the Code of Federal Regulations is amended as follows: ■ PART 200—ORGANIZATION; CONDUCT AND ETHICS; AND INFORMATION AND REQUESTS 1. The authority citation for part 200, subpart A, continues to read in part as follows: ■ Authority: 15 U.S.C. 77o, 77s, 77sss, 78d, 78d–1, 78d–2, 78w, 78ll(d), 78mm, 80a–37, 80b–11, and 7202, unless otherwise noted. * * * * * 2. Section 200.30–4 is amended by adding paragraph (a)(15) to read as follows: ■ § 200.30–4 Delegation of authority to Director of Division of Enforcement. * * * * * (a) * * * (15) With respect to debts arising from actions to enforce the federal securities laws, to terminate collection activity or discharge debts, to accept offers to compromise debts when the principal amount of the debt is $5 million or less, to reject offers to compromise debts, and to accept or reject offers to enter into payment plans. * * * * * By the Commission. Dated: September 1, 2010. Elizabeth M. Murphy, Secretary. [FR Doc. 2010–22241 Filed 9–7–10; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION 17 CFR Parts 240 and 249 [Release No. 34–62824; File No. S7–19–10] RIN 3235–AK69 Temporary Registration of Municipal Advisors Securities and Exchange Commission. ACTION: Interim final temporary rule; Request for comments. AGENCY: The Commission is adopting an interim final temporary rule that establishes a means for municipal advisors, as defined in the Dodd-Frank Wall Street Reform and Consumer Protection Act 1 (‘‘Dodd-Frank Act’’), to satisfy temporarily the requirement that mstockstill on DSKH9S0YB1PROD with RULES SUMMARY: 1 See Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. L. 111–203 (2010). VerDate Mar<15>2010 17:27 Sep 07, 2010 Jkt 220001 they register with the Commission by October 1, 2010. DATES: Effective Date: October 1, 2010 through December 31, 2011. Comments should be received on or before October 8, 2010. ADDRESSES: Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/interim-final-temp.shtml); or • Send an e-mail to rule-comments@sec.gov. Please include File No. S7–19–10 on the subject line; or • Use the Federal eRulemaking Portal (https://www.regulations.gov). Follow the instructions for submitting comments. Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File No. S7–19–10. This file number should be included on the subject line if e-mail is used. To help us process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s Internet Web site (https:// www.sec.gov/rules/ interim-final-temp.shtml). Comments are also available for Web site viewing and printing in the Commission’s Public Reference Room, 100 F Street, NE., Washington, DC 20549 on official business days between the hours of 10 a.m. and 3 p.m. All comments received will be posted without change; we do not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. FOR FURTHER INFORMATION CONTACT: Martha Mahan Haines, Assistant Director and Chief, Office of Municipal Securities, at (202) 551–5681; Ira L. Brandriss, Special Counsel, Office of Market Supervision, at (202) 551–5651; Steve L. Kuan, Special Counsel, Office of Market Supervision, at (202) 551– 5624; Rahman J. Harrison, Special Counsel, Office of Market Supervision, at (202) 551–5663; Steven Varholik, Special Counsel, Office of Market Supervision, at (202) 551–5615; Leigh W. Duffy, Attorney-Adviser, Office of Market Supervision, at (202) 551–2938; or any of the above at Division of Trading and Markets, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–6628. PO 00000 Frm 00005 Fmt 4700 Sfmt 4700 54465 The Commission is adopting new Rule 15Ba2–6T 2 under the Securities Exchange Act of 1934 3 (the ‘‘Exchange Act’’) as an interim final temporary rule. The rule will expire at 11:59 p.m. Eastern Time on December 31, 2011. The Commission is soliciting comments on all aspects of the interim final temporary rule. The Commission will carefully consider any comments received and intends to respond as necessary or appropriate. The Commission expects to consider a proposal for a final permanent registration program, including detailed requirements for the registration of municipal advisors, and to seek public comment on the proposal before its adoption. Persons interested in commenting on the final permanent municipal advisor registration program should submit comments to the subsequent proposal. SUPPLEMENTARY INFORMATION: I. Introduction As part of the Dodd-Frank Act, signed into law by President Obama on July 21, 2010, Congress amended Section 15B(a) of the Exchange Act 4 to, among other things, make it unlawful for municipal advisors, as defined below,5 to provide certain advice or solicit municipal entities or certain other persons without registering with the Commission.6 The registration requirement for municipal advisors becomes effective on October 1, 2010, meaning that municipal advisors must be registered on that date in order to continue their municipal advisory services.7 The Commission is today adopting, on an interim final temporary basis, new Rule 15Ba2–6T 8 under the Exchange Act, which will permit municipal advisors to temporarily satisfy the registration requirement. The adoption of Rule 15Ba2–6T serves as a transitional step to the implementation of a final permanent registration program, makes relevant information available to the public and municipal entities, and permits municipal advisors to continue their business after October 1, 2010. A municipal advisor may temporarily satisfy the statutory registration requirement by submitting certain information electronically through the Commission’s public Web 2 17 CFR 240.15Ba2–6T. U.S.C. 78a et seq. 4 15 U.S.C. 78o–4(a). All references in this Release to the Exchange Act refer to the Exchange Act as amended by the Dodd-Frank Act. 5 See infra Section II.A. 6 See Section 975(a)(1)(B) of the Dodd-Frank Act; 15 U.S.C. 78o–4(a)(1)(B). 7 See Section 975(i) of the Dodd-Frank Act. 8 17 CFR 240.15Ba2–6T. 3 15 E:\FR\FM\08SER1.SGM 08SER1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 75, Number 173 (Wednesday, September 8, 2010)]
[Rules and Regulations]
[Pages 54464-54465]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-22241]


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SECURITIES AND EXCHANGE COMMISSION

17 CFR Part 200

[Release No. 34-62821]


Delegation of Authority to the Director of Its Division of 
Enforcement

AGENCY: Securities and Exchange Commission.

ACTION: Final rule.

-----------------------------------------------------------------------

SUMMARY: The Commission is amending its rules to delegate authority to 
the Director of the Division of Enforcement, in connection with the 
collection of delinquent debts arising from actions to enforce the 
federal securities laws, to terminate collection activity or discharge 
debts, to accept or reject offers to compromise debts, and to accept or 
reject offers to enter into payment plans. This action is intended to 
facilitate the Commission's debt resolution process.

DATES: Effective Date: September 8, 2010.

FOR FURTHER INFORMATION CONTACT: Kenneth H. Hall, 202-551-4936, Office 
of Chief Counsel, Division of Enforcement, Securities and Exchange 
Commission, 100 F Street, NE., Washington, DC 20549-6553.

SUPPLEMENTARY INFORMATION: The Division of Enforcement seeks actively 
to collect amounts imposed in the civil actions that it files in 
federal district court and in administrative proceedings; these amounts 
represent disgorgement of ill-gotten gains from violations of the 
Federal securities laws and civil penalties. The Division pursues debts 
through further litigation, including contempt proceedings, against the 
debtor, and is authorized to refer delinquent debts to the U.S. 
Department of the Treasury for administrative collection activity, 
including offset of debts against amounts otherwise owed by the 
government to the debtor and administrative garnishment of a debtor's 
wages.
    Based upon a debtor's financial condition, as substantiated by 
creditable evidence, the Commission may determine to accept a debtor's 
offer to pay the debt in installments, or to compromise, i.e., satisfy 
the debt by payment of a lesser amount than the outstanding balance. In 
addition, when all reasonable steps have been taken to collect a debt, 
the Commission may authorize its staff to terminate collection activity 
or discharge the debt. Termination of collection activity preserves the 
debt as an obligation of the debtor, and does not bar future activity 
to collect the debt should that become practicable. Discharge of the 
debt is essentially a forgiveness of the debtor's obligation to pay, 
which may have tax consequences for the debtor. The Commission is 
delegating to the Director of the Division of Enforcement the authority 
to resolve certain debts arising from actions to enforce the federal 
securities laws; in particular, the Director is authorized to terminate 
collection activity or discharge debts, to accept offers to compromise 
debts (when the principal amount of the debt is $5 million or less) or 
to reject any offers to compromise debts, and to accept or reject 
offers to enter into payment plans. This delegation will improve the 
efficiency of the Division's debt collection program.
    In any case the Division Director deems appropriate, the 
recommendation that a debt be resolved through termination of 
collection activity, discharge or by payment plan or compromise, may be 
submitted to the Commission for review.
    Administrative Law Matters:
    The Commission finds, in accordance with section 553(b)(3)(A) of 
the Administrative Procedure Act (``APA'') (5 U.S.C. 553(b)(3)(A)) that 
this amendment relates solely to agency organization, procedure, or 
practice, and does not relate to a substantive rule. Accordingly, 
notice, opportunity for public comment, and publication of the 
amendment prior to its effective date are unnecessary. For the same 
reason, and because this amendment does not substantively affect the 
rights or obligations of non-agency parties, the provisions of the 
Small Business Regulatory Enforcement Fairness Act, 5 U.S.C. 804(3)(C), 
are not applicable. Additionally, the provisions of the Regulatory 
Flexibility Act, which apply only when notice and comment are required 
by the APA or other law, 5 U.S.C. 603, are not applicable. Section 
23(a)(2) of the Securities Exchange Act of 1934, 15 U.S.C. 78w(a)(2), 
requires the Commission, in adopting rules under that Act, to consider 
the anticompetitive effects of any rules it adopts. The Commission does 
not believe that the amendment the Commission is adopting today will 
have any impact on competition. Finally, this amendment does not 
contain any collection of information requirements as defined by the 
Paperwork Reduction Act of 1980, as amended.

List of Subjects in 17 CFR Part 200

    Administrative practice and procedure, Authority delegations 
(Government agencies).

[[Page 54465]]

Text of Amendment

0
For the reasons set out in the preamble, Title 17, Chapter II of the 
Code of Federal Regulations is amended as follows:

PART 200--ORGANIZATION; CONDUCT AND ETHICS; AND INFORMATION AND 
REQUESTS

0
1. The authority citation for part 200, subpart A, continues to read in 
part as follows:

    Authority:  15 U.S.C. 77o, 77s, 77sss, 78d, 78d-1, 78d-2, 78w, 
78ll(d), 78mm, 80a-37, 80b-11, and 7202, unless otherwise noted.
* * * * *

0
2. Section 200.30-4 is amended by adding paragraph (a)(15) to read as 
follows:


Sec.  200.30-4  Delegation of authority to Director of Division of 
Enforcement.

* * * * *
    (a) * * *
    (15) With respect to debts arising from actions to enforce the 
federal securities laws, to terminate collection activity or discharge 
debts, to accept offers to compromise debts when the principal amount 
of the debt is $5 million or less, to reject offers to compromise 
debts, and to accept or reject offers to enter into payment plans.
* * * * *

    By the Commission.

    Dated: September 1, 2010.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2010-22241 Filed 9-7-10; 8:45 am]
BILLING CODE 8010-01-P

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