Technical Amendment to Delegation of Authority to the Director of the Division of Trading and Markets, 67597-67599 [2011-28313]
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Federal Register / Vol. 76, No. 212 / Wednesday, November 2, 2011 / Rules and Regulations
revision of FAA Order 7400.9 and
publication of conforming amendments.
FOR FURTHER INFORMATION CONTACT:
Scott Enander, Central Service Center,
Operations Support Group, Federal
Aviation Administration, Southwest
Region, 2601 Meacham Blvd., Fort
Worth, TX 76137; telephone (817) 321–
7716.
SUPPLEMENTARY INFORMATION:
History
On July 21, 2011, the FAA published
in the Federal Register a notice of
proposed rulemaking (NPRM) to amend
Class E airspace for Spearfish, SD,
creating additional controlled airspace
at Black Hills Airport—Clyde Ice Field
(76 FR 43610) Docket No. FAA–2011–
0431. Interested parties were invited to
participate in this rulemaking effort by
submitting written comments on the
proposal to the FAA. No comments
were received. Subsequent to
publication, errors was found in the
boundaries of the controlled airspace
extending upward from 1,200 feet above
the surface. This rule makes the
corrections to be in concert with the
FAAs aeronautical database. Also, there
is a minor correction to the airport
name.
Class E airspace designations are
published in paragraph 6005 of FAA
Order 7400.9V dated August 9, 2011,
and effective September 15, 2011, which
is incorporated by reference in 14 CFR
71.1. The Class E airspace designations
listed in this document will be
published subsequently in the Order.
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The Rule
This action amends Title 14 Code of
Federal Regulations (14 CFR) part 71 by
amending Class E airspace extending
upward from 700 feet above the surface
to accommodate new standard
instrument approach procedures at
Black Hills Airport—Clyde Ice Field,
Spearfish, SD. This action is necessary
for the safety and management of IFR
operations at the airport. This action
also corrects the geographic coordinates
of the airport, as well as the first
boundary coordinates listed in the
regulatory text of the airspace extending
upward from 1,200 feet above the
surface. Also, the airport name is
changed from Black Hills—Clyde Ice
Field, to Black Hills Airport—Clyde Ice
Field. With the exception of editorial
changes and the changes described
above, this action is the same as that
proposed in the NPRM.
The FAA has determined that this
regulation only involves an established
body of technical regulations for which
frequent and routine amendments are
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necessary to keep them operationally
current. Therefore, this regulation: (1) Is
not a ‘‘significant regulatory action’’
under Executive Order 12866; (2) is not
a ‘‘significant rule’’ under DOT
Regulatory Policies and Procedures (44
FR 11034; February 26, 1979); and (3)
does not warrant preparation of a
regulatory evaluation as the anticipated
impact is so minimal. Since this is a
routine matter that will only affect air
traffic procedures and air navigation, it
is certified that this rule, when
promulgated, will not have a significant
economic impact on a substantial
number of small entities under the
criteria of the Regulatory Flexibility Act.
The FAA’s authority to issue rules
regarding aviation safety is found in
Title 49 of the U.S. Code. Subtitle 1,
section 106, describes the authority of
the FAA Administrator. Subtitle VII,
Aviation Programs, describes in more
detail the scope of the agency’s
authority. This rulemaking is
promulgated under the authority
described in subtitle VII, part A, subpart
I, section 40103. Under that section, the
FAA is charged with prescribing
regulations to assign the use of airspace
necessary to ensure the safety of aircraft
and the efficient use of airspace. This
regulation is within the scope of that
authority as it amends controlled
airspace at Black Hills Airport—Clyde
Ice Field, Spearfish, SD.
List of Subjects in 14 CFR Part 71
Airspace, Incorporation by reference,
Navigation (air).
In consideration of the foregoing, the
Federal Aviation Administration
amends 14 CFR part 71 as follows:
PART 71—DESIGNATION OF CLASS A,
B, C, D, AND E AIRSPACE AREAS; AIR
TRAFFIC SERVICE ROUTES; AND
REPORTING POINTS
1. The authority citation for 14 CFR
part 71 continues to read as follows:
■
Authority: 49 U.S.C. 106(g), 40103, 40113,
40120; E.O. 10854, 24 FR 9565, 3 CFR, 1959–
1963 Comp., p. 389.
[Amended]
2. The incorporation by reference in
14 CFR 71.1 of the Federal Aviation
Administration Order 7400.9V, Airspace
Designations and Reporting Points,
dated August 9, 2011, and effective
September 15, 2011, is amended as
follows:
■
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Paragraph 6005 Class E airspace areas
extending upward from 700 feet or more
above the surface.
*
*
*
*
*
AGL SD E5 Spearfish, SD [Amended]
Black Hills Airport-Clyde Ice Field, SD
(Lat. 44°28′52″ N., long. 103°47′09″ W.)
That airspace extending upward from 700
feet above the surface within a 7-mile radius
of Black Hills Airport-Clyde Ice Field, and
within 2.1 miles each side of the 305° bearing
from the airport extending from the 7-mile
radius to 8.3 miles northwest of the airport,
and within 2 miles each side of the 135°
bearing from the airport extending from the
7-mile radius to 18.3 miles southeast of the
airport; and that airspace extending upward
from 1,200 feet above the surface within an
area bounded by a line beginning at lat.
44°29′16″ N., long. 103°56′55″ W.; to lat.
44°13′37″ N., long. 104°14′00″ W.; to lat.
44°18′41″ N., long. 104°23′24″ W.; to lat.
44°44′11″ N., long. 103°57′49″ W.; to lat.
44°50′13″ N., long. 103°28′11″ W.; to lat.
44°47′27″ N., long. 102°57′40″ W.; to lat.
44°39′31″ N., long. 102°56′34″ W.; to lat.
44°38′27″ N., long. 103°12′26″ W.; to lat.
44°25′51″ N., long. 103°37′45″ W.; to lat.
44°25′58″ N., long. 103°38′15″ W.; thence
clockwise via the 7-mile radius of the airport
to the point of beginning.
Issued in Fort Worth, Texas, on October 11,
2011.
David P. Medina,
Manager, Operations Support Group, ATO
Central Service Center.
[FR Doc. 2011–28289 Filed 11–1–11; 8:45 am]
BILLING CODE 4910–13–P
SECURITIES AND EXCHANGE
COMMISSION
17 CFR Part 200
Adoption of the Amendment
§ 71.1
67597
[Release No. 34–65628]
Technical Amendment to Delegation of
Authority to the Director of the
Division of Trading and Markets
Securities and Exchange
Commission.
ACTION: Final rule; technical
amendment.
AGENCY:
The Securities and Exchange
Commission (‘‘Commission’’) is making
a technical amendment to the rule that
delegates authority to the Director of the
Division of Trading and Markets to grant
exemptions upon specified terms,
conditions, and periods to persons
subject to Rule 17f–2 under the
Securities Exchange Act of 1934
(‘‘Exchange Act’’).
DATES: Effective Date: November 2,
2011.
SUMMARY:
FOR FURTHER INFORMATION CONTACT:
W. Carpenter, Assistant Director, or
E:\FR\FM\02NOR1.SGM
02NOR1
Jerry
67598
Federal Register / Vol. 76, No. 212 / Wednesday, November 2, 2011 / Rules and Regulations
David Karasik, Special Counsel, at (202)
551–5710, Securities and Exchange
Commission, Division of Trading and
Markets, Room 7321 SP1, 100 F Street
NE., Washington, DC 20549–7010.
SUPPLEMENTARY INFORMATION:
I. Background
Section 17(f)(2) of the Exchange Act
requires every member of a national
securities exchange, broker, dealer,
registered transfer agent, and registered
clearing agency to require that each of
its partners, directors, officers, and
employees be fingerprinted and to
submit such fingerprints to the U.S.
Attorney General for identification and
processing.1 In order to permit some
flexibility in the administration of the
fingerprinting requirement, Section
17(f)(2) also provides ‘‘The Commission,
by rule, may exempt from the provisions
of this paragraph [Section 17(f)(2)] upon
specified terms, conditions, and
periods, any class of partners, directors,
officers, or employees of any such
member, broker, dealer, transfer agent,
or clearing agency, if the Commission
finds that such action is not inconsistent
with the public interest or the
protection of investors.’’ 2
Pursuant to this statutory authority,
the Commission adopted Rule 17f–2 in
1976 to provide for certain exemptions
from the fingerprinting requirement of
Section 17(f)(2) of the Exchange Act.3
As adopted by the Commission in 1976,
exemptions from the fingerprinting
requirements of Section 17(f)(2) could
also be requested by persons that did
not meet certain conditions specified in
Rule 17f–2 by applying to the
Commission for exemptive relief
pursuant to a prior paragraph (g) of Rule
17f–2.4
After adopting Rule 17f–2, the
Commission delegated its authority,
pursuant to Rule 30–3(a)(17) of the
Commission’s Rules of Organization and
Program Management, to grant
exemptions under Rule 17f–2(g) to the
Director of the Division of Market
Regulation (now known as the Division
of Trading and Markets) (‘‘Division
1 15
U.S.C. 78q(f)(2).
sroberts on DSK5SPTVN1PROD with RULES
2 Id.
3 17 CFR 240.17f–2. Securities Exchange Act
Release No. 12214 (Mar. 16, 1976), 41 FR 13594
(Mar. 31, 1976).
4 Prior Rule 17f–2(g) (as reflected in 1976 at the
time of adoption of the rule) provided:
The Commission, upon specified terms,
conditions and periods, may grant exemptions to
any class of partners, directors, officers, or
employees of any member of a national securities
exchange, broker, dealer, registered transfer agent,
or registered clearing agency, if the Commission
finds that such action is not inconsistent with the
public interest or the protection of investors.
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15:56 Nov 01, 2011
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Director’’).5 In 1982, the Commission
amended Rule 17f–2 in order to simplify
the process of claiming exemptions from
the fingerprinting requirements.6 Part of
this simplification effort involved a
change consisting of moving the entire
text of paragraph (g) of Rule 17f–2,
without any modifications, to a new
subparagraph (a)(2). However, the
Commission did not update references
to Rule 17f–2(g) contained in Rule 30–
3(a)(17) to reflect this change. In order
to correct this oversight, the
Commission is making a technical
amendment to Rule 30–3(a)(17) to
reflect the authority of the Division
Director to grant exemptions upon
specified terms, conditions, and periods
to persons subject to Rule 17f–2
pursuant to Rule 17f–2(a)(2).
II. Administrative Law Matters
The Administrative Procedure Act
(‘‘APA’’) 7 generally requires an agency
to publish, before adopting a rule, notice
of a proposed rulemaking in the Federal
Register.8 This requirement does not
apply, however, to, ‘‘interpretive rules,
general statements of policy, or rules of
agency organization, procedure, or
practice.’’ 9
This amendment consisting of
replacing an outdated reference to ‘‘Rule
17f–2(g)’’ with a reference to ‘‘Rule 17f–
2(a)(2)’’ within Rule 30–3 of the
Commission’s Rules of Organization and
Program Management is a technical
change, being adopted solely to
interpret references to a statutory
provision that has been moved but
otherwise remains unchanged and
which relates solely to the delegation of
authority or duties within the
Commission. Accordingly, the
Commission finds that because the
amendments relate solely to interpretive
rules and rules of agency organization,
procedure, or practice, that publishing
the changes for comment is
unnecessary.10 In addition, the APA
generally requires that an agency
publish a rule in the Federal Register 30
days before the rule becomes effective.11
This requirement, however, does not
apply to ‘‘interpretative rules and
statements of policy.’’ 12 Because this
amendment functions as an
5 Rule 30–3 of the Commission’s Rules of
Organization and Program Management has been
updated to reflect the name of the division is now
the Division of Trading and Markets. See 17 CFR
200.30–3.
6 Securities Exchange Act Release No. 19268
(Nov. 18, 1982), 47 FR 54060 (Dec. 1, 1982).
7 5 U.S.C. 551 et seq.
8 See 5 U.S.C. 553(b).
9 Id.
10 Id.
11 See 5 U.S.C. 553(d).
12 Id.
PO 00000
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Fmt 4700
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interpretative rule that would merely
interpret references to an outdated
‘‘Rule 17f–2(g)’’ (that presently does not
exist) as applying to ‘‘Rule 17f–2(a)(2)’’
this amendment may take effect
immediately. Similarly, the amendment
does not require analysis under the
Regulatory Flexibility Act or analysis of
major rule status under the Small
Business Regulatory Fairness Act.13
III. Consideration of the Competitive
Effects of Amendment
Section 3(f) of the Exchange Act,14
provides that whenever the Commission
is engaged in rulemaking and is
required to consider or determine
whether an action is necessary or
appropriate in the public interest, the
Commission shall consider, in addition
to the protection of investors, whether
the action will promote efficiency,
competition, and capital formation. In
addition, Section 23(a)(2) of the
Exchange Act requires the Commission
in adopting rules under the Exchange
Act to consider the competitive effects
of such rules.15 Because this
amendment merely makes a technical
change to update a statutory reference,
the Commission does not anticipate that
the amendment would have an effect on
efficiency, competition, or capital
formation, and the Commission does not
anticipate any competitive advantages
or disadvantages would be created.
IV. Statutory Authority and Text of
Amendments
We are adopting this technical
amendment under the authority set
forth in Section 23(a) of the Exchange
Act.16
List of Subjects 17 CFR Part 200
Administrative practice and
procedure, Conflict of interests, and
Freedom of information.
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:
13 See 5 U.S.C. 601(2) (for purposes of Regulatory
Flexibility Act analysis, the term ‘‘rule’’ means any
rule for which the agency publishes a general notice
of proposed rulemaking); and 5 U.S.C. 804(3)(C) (for
purposes of Congressional review of agency
rulemaking, the term ‘‘rule’’ does not include any
rule of agency organization, procedure or practice
that does not substantially affect the rights or
obligations of non-agency parties).
14 15 U.S.C. 78c(f).
15 15 U.S.C. 78w(a)(2).
16 15 U.S.C. 782w(a).
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Federal Register / Vol. 76, No. 212 / Wednesday, November 2, 2011 / Rules and Regulations
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 200.30–3 is amended by
revising paragraph (a)(17)(ii) to read as
follows:
§ 200.30–3 Delegation of authority to
Director of Division of Trading and Markets.
*
*
*
*
*
(a) * * *
(17) * * *
(ii) To grant exemptions upon
specified terms, conditions, and
periods, for classes of persons subject to
Rule 17f–2 pursuant to Rule 17f–2(a)(2)
(§ 240.17f–2(a)(2) of this chapter).
*
*
*
*
*
Dated: October 26, 2011.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011–28313 Filed 11–1–11; 8:45 am]
Public Comments
ODNI received a single comment on
its proposed rule and six new systems
of records notices. ODNI has determined
that the comment received does not
warrant modifying the proposed
exemptions or the systems notices prior
to implementation.
BILLING CODE 8011–01–P
OFFICE OF THE DIRECTOR OF
NATIONAL INTELLIGENCE
32 CFR Part 1701
Privacy Act of 1974: Implementation
Office of the Director of
National Intelligence.
ACTION: Final rule.
AGENCY:
The Office of the Director of
National Intelligence (ODNI) is issuing a
final rule exempting six new systems of
records from certain provisions of the
Privacy Act. In addition, the ODNI
invokes a subsection of the Privacy Act
as an additional basis for exempting
records in ODNI/OIG–003 (Office of
Inspector General Investigation and
Interview Records, published in the
Federal Register on Dec. 28, 2007) from
these provisions of the Act.
DATES: This final rule is effective
November 2, 2011.
FOR FURTHER INFORMATION CONTACT: Mr.
John F. Hackett, Chief, Information
Management Group, (703) 874–8085.
SUPPLEMENTARY INFORMATION:
SUMMARY:
sroberts on DSK5SPTVN1PROD with RULES
Records (ODNI–16); Personnel Security
Records (ODNI–17); Freedom of
Information Act, Privacy Act and
Mandatory Declassification Review
Request Records (ODNI–18); IT Systems
Activity and Access Records (ODNI–19);
Security Clearance Reciprocity Hotline
Records (ODNI–20); and IT Network
Support, Administration and Analysis
Records (21). These systems of records
contain records that range from
Unclassified to Top Secret. In
conjunction with publication of these
systems notices, the ODNI initiated a
rulemaking to exempt the systems of
records, in relevant part, from
subsections (c)(3); (d)(1), (2), (3), (4);
(e)(1) and (e)(4)(G), (H),(I); and (f) of the
Privacy Act pursuant to exemption
authority afforded agency heads by
subsection (k) of the Privacy Act. The
systems notices and proposed
exemption rule are published at 76 FR
42737 and 43629. The enumerated
exemptions will be invoked on a caseby-case basis, as necessary to preclude
interference with investigatory,
intelligence and counterterrorism
functions and responsibilities of the
ODNI.
Regulatory Flexibility Act
This rule affects only the manner in
which ODNI collects and maintains
information about individuals. ODNI
certifies that this rulemaking does not
impact small entities and that analysis
under the Regulatory Flexibility Act,
5 U.S.C. 601–612, is not required.
Background
Small Entity Inquiries
The Small Business Regulatory
Enforcement Fairness Act (SBREFA) of
1996 requires the ODNI to comply with
small entity requests for information
and advice about compliance with
statutes and regulations within the
ODNI jurisdiction. Any small entity that
has a question regarding this document
may address it to the information
contact listed above. Further
information regarding SBREFA is
available on the Small Business
Administration’s Web page at https://
www.sba.gov/advo/laws/law-lib.html.
On July 19, 2011, the Office of the
Director of National Intelligence (ODNI)
published notice of the following new
systems of records: Human Resources
Paperwork Reduction Act
The Paperwork Reduction Act of 1995
944 U.S.C. 3507(d)) requires that the
ODNI consider the impact of paperwork
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67599
and other burdens imposed on the
public associated with the collection of
information. There are no information
collection requirements associated with
this rule and therefore no analysis of
burden is required.
Executive Order 12866, Regulatory
Planning and Review
This rule is not a ‘‘significant
regulatory action,’’ within the meaning
of Executive Order 12866. This rule will
not adversely affect the economy or a
sector of the economy in a material way;
will not create inconsistency with or
interfere with other agency action; will
not materially alter the budgetary
impact of entitlements, grants, fees or
loans or the right and obligations of
recipients thereof; or raise legal or
policy issues arising out of legal
mandates, the President’s priorities or
the principles set forth in the Executive
Order. Accordingly, further regulatory
evaluation is not required.
Unfunded Mandates
Title II of the Unfunded Mandates
Reform Act of 1995 (UMRA), Public
Law 104–4, 109 Stat. 48 (Mar. 22, 1995),
requires Federal agencies to assess the
effects of certain regulatory actions on
State, local and tribal governments, and
the private sector. This rule imposes no
Federal mandate on any State, local or
tribal government or on the private
sector. Accordingly, no UMRA analysis
of economic and regulatory alternatives
is required.
Executive Order 13132, Federalism
Executive Order 13132 requires
agencies to examine the implications for
the distribution of power and
responsibilities among the various
levels of government resulting from
their rules. ODNI concludes that this
rule does not affect the rights, roles and
responsibilities of the States, involves
no preemption of State law and does not
limit state policymaking discretion. This
rule has no federalism implications as
defined by the Executive Order.
Environmental Impact
This rulemaking will not have a
significant effect on the human
environment under the provisions of the
National Environmental Policy Act of
1969 (NEPA), 42 U.S.C. 4321–4347.
Energy Impact
This rulemaking is not a major
regulatory action under the provisions
of the Energy Policy and Conservation
Act (EPCA), Public Law 94–163) as
amended, 42 U.S.C. 6362.
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]]>Agencies
[Federal Register Volume 76, Number 212 (Wednesday, November 2, 2011)]
[Rules and Regulations]
[Pages 67597-67599]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-28313]
=======================================================================
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SECURITIES AND EXCHANGE COMMISSION
17 CFR Part 200
[Release No. 34-65628]
Technical Amendment to Delegation of Authority to the Director of
the Division of Trading and Markets
AGENCY: Securities and Exchange Commission.
ACTION: Final rule; technical amendment.
-----------------------------------------------------------------------
SUMMARY: The Securities and Exchange Commission (``Commission'') is
making a technical amendment to the rule that delegates authority to
the Director of the Division of Trading and Markets to grant exemptions
upon specified terms, conditions, and periods to persons subject to
Rule 17f-2 under the Securities Exchange Act of 1934 (``Exchange
Act'').
DATES: Effective Date: November 2, 2011.
FOR FURTHER INFORMATION CONTACT: Jerry W. Carpenter, Assistant
Director, or
[[Page 67598]]
David Karasik, Special Counsel, at (202) 551-5710, Securities and
Exchange Commission, Division of Trading and Markets, Room 7321 SP1,
100 F Street NE., Washington, DC 20549-7010.
SUPPLEMENTARY INFORMATION:
I. Background
Section 17(f)(2) of the Exchange Act requires every member of a
national securities exchange, broker, dealer, registered transfer
agent, and registered clearing agency to require that each of its
partners, directors, officers, and employees be fingerprinted and to
submit such fingerprints to the U.S. Attorney General for
identification and processing.\1\ In order to permit some flexibility
in the administration of the fingerprinting requirement, Section
17(f)(2) also provides ``The Commission, by rule, may exempt from the
provisions of this paragraph [Section 17(f)(2)] upon specified terms,
conditions, and periods, any class of partners, directors, officers, or
employees of any such member, broker, dealer, transfer agent, or
clearing agency, if the Commission finds that such action is not
inconsistent with the public interest or the protection of investors.''
\2\
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78q(f)(2).
\2\ Id.
---------------------------------------------------------------------------
Pursuant to this statutory authority, the Commission adopted Rule
17f-2 in 1976 to provide for certain exemptions from the fingerprinting
requirement of Section 17(f)(2) of the Exchange Act.\3\ As adopted by
the Commission in 1976, exemptions from the fingerprinting requirements
of Section 17(f)(2) could also be requested by persons that did not
meet certain conditions specified in Rule 17f-2 by applying to the
Commission for exemptive relief pursuant to a prior paragraph (g) of
Rule 17f-2.\4\
---------------------------------------------------------------------------
\3\ 17 CFR 240.17f-2. Securities Exchange Act Release No. 12214
(Mar. 16, 1976), 41 FR 13594 (Mar. 31, 1976).
\4\ Prior Rule 17f-2(g) (as reflected in 1976 at the time of
adoption of the rule) provided:
The Commission, upon specified terms, conditions and periods,
may grant exemptions to any class of partners, directors, officers,
or employees of any member of a national securities exchange,
broker, dealer, registered transfer agent, or registered clearing
agency, if the Commission finds that such action is not inconsistent
with the public interest or the protection of investors.
---------------------------------------------------------------------------
After adopting Rule 17f-2, the Commission delegated its authority,
pursuant to Rule 30-3(a)(17) of the Commission's Rules of Organization
and Program Management, to grant exemptions under Rule 17f-2(g) to the
Director of the Division of Market Regulation (now known as the
Division of Trading and Markets) (``Division Director'').\5\ In 1982,
the Commission amended Rule 17f-2 in order to simplify the process of
claiming exemptions from the fingerprinting requirements.\6\ Part of
this simplification effort involved a change consisting of moving the
entire text of paragraph (g) of Rule 17f-2, without any modifications,
to a new subparagraph (a)(2). However, the Commission did not update
references to Rule 17f-2(g) contained in Rule 30-3(a)(17) to reflect
this change. In order to correct this oversight, the Commission is
making a technical amendment to Rule 30-3(a)(17) to reflect the
authority of the Division Director to grant exemptions upon specified
terms, conditions, and periods to persons subject to Rule 17f-2
pursuant to Rule 17f-2(a)(2).
---------------------------------------------------------------------------
\5\ Rule 30-3 of the Commission's Rules of Organization and
Program Management has been updated to reflect the name of the
division is now the Division of Trading and Markets. See 17 CFR
200.30-3.
\6\ Securities Exchange Act Release No. 19268 (Nov. 18, 1982),
47 FR 54060 (Dec. 1, 1982).
---------------------------------------------------------------------------
II. Administrative Law Matters
The Administrative Procedure Act (``APA'') \7\ generally requires
an agency to publish, before adopting a rule, notice of a proposed
rulemaking in the Federal Register.\8\ This requirement does not apply,
however, to, ``interpretive rules, general statements of policy, or
rules of agency organization, procedure, or practice.'' \9\
---------------------------------------------------------------------------
\7\ 5 U.S.C. 551 et seq.
\8\ See 5 U.S.C. 553(b).
\9\ Id.
---------------------------------------------------------------------------
This amendment consisting of replacing an outdated reference to
``Rule 17f-2(g)'' with a reference to ``Rule 17f-2(a)(2)'' within Rule
30-3 of the Commission's Rules of Organization and Program Management
is a technical change, being adopted solely to interpret references to
a statutory provision that has been moved but otherwise remains
unchanged and which relates solely to the delegation of authority or
duties within the Commission. Accordingly, the Commission finds that
because the amendments relate solely to interpretive rules and rules of
agency organization, procedure, or practice, that publishing the
changes for comment is unnecessary.\10\ In addition, the APA generally
requires that an agency publish a rule in the Federal Register 30 days
before the rule becomes effective.\11\ This requirement, however, does
not apply to ``interpretative rules and statements of policy.'' \12\
Because this amendment functions as an interpretative rule that would
merely interpret references to an outdated ``Rule 17f-2(g)'' (that
presently does not exist) as applying to ``Rule 17f-2(a)(2)'' this
amendment may take effect immediately. Similarly, the amendment does
not require analysis under the Regulatory Flexibility Act or analysis
of major rule status under the Small Business Regulatory Fairness
Act.\13\
---------------------------------------------------------------------------
\10\ Id.
\11\ See 5 U.S.C. 553(d).
\12\ Id.
\13\ See 5 U.S.C. 601(2) (for purposes of Regulatory Flexibility
Act analysis, the term ``rule'' means any rule for which the agency
publishes a general notice of proposed rulemaking); and 5 U.S.C.
804(3)(C) (for purposes of Congressional review of agency
rulemaking, the term ``rule'' does not include any rule of agency
organization, procedure or practice that does not substantially
affect the rights or obligations of non-agency parties).
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III. Consideration of the Competitive Effects of Amendment
Section 3(f) of the Exchange Act,\14\ provides that whenever the
Commission is engaged in rulemaking and is required to consider or
determine whether an action is necessary or appropriate in the public
interest, the Commission shall consider, in addition to the protection
of investors, whether the action will promote efficiency, competition,
and capital formation. In addition, Section 23(a)(2) of the Exchange
Act requires the Commission in adopting rules under the Exchange Act to
consider the competitive effects of such rules.\15\ Because this
amendment merely makes a technical change to update a statutory
reference, the Commission does not anticipate that the amendment would
have an effect on efficiency, competition, or capital formation, and
the Commission does not anticipate any competitive advantages or
disadvantages would be created.
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\14\ 15 U.S.C. 78c(f).
\15\ 15 U.S.C. 78w(a)(2).
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IV. Statutory Authority and Text of Amendments
We are adopting this technical amendment under the authority set
forth in Section 23(a) of the Exchange Act.\16\
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\16\ 15 U.S.C. 782w(a).
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List of Subjects 17 CFR Part 200
Administrative practice and procedure, Conflict of interests, and
Freedom of information.
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:
[[Page 67599]]
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 200.30-3 is amended by revising paragraph (a)(17)(ii) to
read as follows:
Sec. 200.30-3 Delegation of authority to Director of Division of
Trading and Markets.
* * * * *
(a) * * *
(17) * * *
(ii) To grant exemptions upon specified terms, conditions, and
periods, for classes of persons subject to Rule 17f-2 pursuant to Rule
17f-2(a)(2) (Sec. 240.17f-2(a)(2) of this chapter).
* * * * *
Dated: October 26, 2011.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-28313 Filed 11-1-11; 8:45 am]
BILLING CODE 8011-01-P
