International Services Surveys and Direct Investment Surveys Reporting, 772-774 [2012-47]
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772
Federal Register / Vol. 77, No. 4 / Friday, January 6, 2012 / Proposed Rules
pmangrum on DSK3VPTVN1PROD with PROPOSALS-1
business hours at the office of the
Eastern Service Center, Federal Aviation
Administration, room 350, 1701
Columbia Avenue, College Park, Georgia
30337.
Persons interested in being placed on
a mailing list for future NPRMs should
contact the FAA’s Office of Rulemaking,
(202) 267–9677, to request a copy of
Advisory circular No. 11–2A, Notice of
Proposed Rulemaking distribution
System, which describes the application
procedure.
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 proposed regulation is
within the scope of that authority as it
would establish Class E airspace at
Vaiden Field, Marion, AL.
DEPARTMENT OF COMMERCE
Lists of Subjects in 14 CFR Part 71
International Services Surveys and
Direct Investment Surveys Reporting
Airspace, Incorporation by reference,
Navigation (air).
AGENCY:
The Proposal
The FAA is considering an
amendment to Title 14, Code of Federal
Regulations (14 CFR) part 71 to establish
Class E airspace at Marion, AL,
providing the controlled airspace
required to support the new RNAV GPS
standard instrument approach
procedures for Vaiden Field. Controlled
airspace extending upward from 700
feet above the surface would be
established for the safety and
management of IFR operations at the
airport.
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 designation
listed in this document will be
published subsequently in the Order.
The FAA has determined that this
proposed regulation only involves an
established body of technical
regulations for which frequent and
routine amendments are necessary to
keep them operationally current. It,
therefore, (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
proposed rule, when promulgated,
would 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 United States Code.
Subtitle I, 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 proposed
rulemaking is promulgated under the
authority described in Subtitle VII, Part,
A, Subpart I, Section 40103. Under that
The Proposed Amendment
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In consideration of the foregoing, the
Federal Aviation Administration
proposes to amend 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 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.
§ 71.1
[Amended]
2. The incorporation by reference in
14 CFR 71.1 of Federal Aviation
Administration Order 7400.9V, Airspace
Designations and Reporting Points,
dated August 9, 2011, effective
September 15, 2011, is amended as
follows:
Paragraph 6005 Class E airspace areas
extending upward from 700 feet or more
above the surface of the earth.
*
*
*
ASO AL E5
*
*
Marion, AL [New]
Vaiden Field, AL
(Lat. 32°30′38″ N., long. 87°23′05″ W.)
That airspace extending upward from 700
feet above the surface within a 7-mile radius
of Vaiden Field.
Issued in College Park, Georgia, on
December 29, 2011.
Jack Schroeter,
Acting Manager, Operations Support Group,
Eastern Service Center, Air Traffic
Organization.
[FR Doc. 2012–60 Filed 1–5–12; 8:45 am]
BILLING CODE 4910–13–P
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Bureau of Economic Analysis
15 CFR Parts 801, 806, and 807
[Docket No.: 111012619–1619–01]
RIN 0691–AA81
Bureau of Economic Analysis.
Proposed rule; request for
comments.
ACTION:
The Bureau of Economic
Analysis (BEA) proposes to revise its
rules to establish general guidelines for
reporting on international trade in
services and direct investment surveys
provided for by the International
Investment and Trade in Services
Survey Act (22 U.S.C. 3101 to 3108, (the
Act)). In addition to the Act, the
Omnibus Trade and Competitiveness
Act of 1988 (15 U.S.C. 4908) provides
authority for the international trade in
services surveys. Currently,
international trade in services and direct
investment surveys are promulgated
through separate rulemaking actions.
This rule will modify the guidelines to
allow such surveys to be issued through
notices rather than as more formal
rulemakings. The purpose of this rule is
to provide a more general framework for
collection of data on these surveys that
are required, or provided for, by the
statutes. The effect of this rule is to
simplify and generalize existing
regulations governing the procurement
of information on international trade in
services and direct investment.
DATES: Comments on this proposed rule
will receive consideration if submitted
in writing on or before 5 p.m. March 6,
2012.
ADDRESSES: You may submit comments,
identified by RIN 0691–AA81, and
referencing the agency name (Bureau of
Economic Analysis), by any of the
following methods:
• Federal eRulemaking Portal: https://
www.regulations.gov. Follow the
instructions for submitting comments.
For Keyword or ID, enter ‘‘EAB–2011–
0003.’’
• Email: David.Galler@bea.gov.
• Fax: Office of the Chief, Direct
Investment Division, (202) 606–2894.
• Mail: Office of the Chief, Direct
Investment Division, U.S. Department of
Commerce, Bureau of Economic
Analysis, BE–50, Washington, DC
20230.
• Hand Delivery/Courier: Office of the
Chief, Direct Investment Division, U.S.
Department of Commerce, Bureau of
SUMMARY:
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pmangrum on DSK3VPTVN1PROD with PROPOSALS-1
Federal Register / Vol. 77, No. 4 / Friday, January 6, 2012 / Proposed Rules
Economic Analysis, BE–50, Shipping
and Receiving, Section M100, 1441 L
Street NW., Washington, DC 20005.
FOR FURTHER INFORMATION CONTACT:
David H. Galler, Chief, Direct
Investment Division (BE–50), Bureau of
Economic Analysis, U.S. Department of
Commerce, Washington, DC 20230;
phone (202) 606–9835.
SUPPLEMENTARY INFORMATION: The
purpose of the Act is to provide for the
collection of comprehensive and
reliable information pertaining to
international investment, including
international trade in services and direct
investment, and to do so with a
minimum of burden on respondents and
with no unnecessary duplication of
effort. The Act specifies that regular
data collection programs and surveys, as
specified in the Act or as deemed
necessary by the Secretary of Commerce
pursuant to Executive Order 11961, as
amended by Executive Orders 12318
and 12518, shall be conducted to secure
information on international trade in
services and on direct investment,
including information that may be
necessary for computing the
international transactions and national
income and product accounts and for
deriving estimates of direct investment
position and of operations of
multinational companies.
The existing regulations (15 CFR parts
801 and 806) implementing certain
provisions of the Act govern the
reporting information on surveys of
international trade in services and direct
investment and provide detailed
instructions to survey respondents on
how to report and what forms to
complete and submit when responding
to the surveys. This method ensures that
all potential respondents are notified of
the new survey, but the process can
hinder the timely gathering of
information due to the necessary
rulemaking steps.
BEA proposes to revise these
regulations to generalize the reporting
requirements with respect to these
surveys under the Act. Because of the
level of detail included in the existing
regulations, a rulemaking is required
each time a change—such as changes in
the survey year for a benchmark survey,
the title of a survey, and the reporting
threshold for a survey—is made to a
survey. For surveys that are conducted
on an ongoing basis—quarterly,
annually, quinqenially—specific
reporting information regarding
individual surveys can more efficiently
be issued as notices rather than through
individual rulemakings. BEA can
determine the likely universe of survey
respondents through ongoing research
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of databases and outreach to
professional organizations, so the
surveys will continue to receive similar
coverage and response rates even if they
are issued as notices. Finally, there is no
requirement in the Act or elsewhere that
the reporting requirements and detailed
instructions for such surveys be issued
following notice and comment
rulemaking. Therefore, BEA proposes to
remove the current regulations and
publish in the Federal Register notices
of future surveys of foreign and direct
investment in the United States and
international trade in services.
If this proposed rule is adopted,
notice of specific surveys pertaining to
international investment and trade in
services and direct investment,
including applicable report forms and
instructions, would now be separately
published in the Federal Register. In
addition, only respondents notified of
these surveys would be required to
respond to BEA surveys.
773
rulemaking, if adopted, will not have a
significant economic impact on a
substantial number of small entities.
Accordingly, no initial regulatory
flexibility analysis is required, and none
has been prepared.
List of Subjects in 15 CFR Part 801
Cross-Border transactions, Credit
card, Debit card, Economic statistics,
Foreign investment in the United States,
Foreign trade, International
transactions, Penalties, Reporting and
recordkeeping requirements, Travel
expenses, U.S. investment abroad.
Dated: December 20, 2011.
J. Steven Landefeld,
Director, Bureau of Economic Analysis.
For the reasons discussed in the
preamble, Parts 801, and 806 of Title 15
of the Code of Federal Regulations are
proposed to be revised to read as
follows:
Executive Order 12866
This proposed rule has been
determined to be not significant for
purposes of E.O. 12866.
PART 801—SURVEYS OF
INTERNATIONAL TRADE IN SERVICES
BETWEEN U.S. AND FOREIGN
PERSONS AND SURVEYS OF DIRECT
INVESTMENT
Executive Order 13132
This proposed rule does not contain
policies with Federalism implications
sufficient to warrant preparation of a
Federalism assessment under E.O.
13132.
Sec.
801.1
801.2
801.3
801.4
801.5
801.6
Regulatory Flexibility Act
The Chief Counsel for Regulation,
Department of Commerce, has certified
to the Chief Counsel for Advocacy,
Small Business Administration, under
the provisions of the Regulatory
Flexibility Act (5 U.S.C. 605(b)), that
this proposed rulemaking, if adopted,
will not have a significant economic
impact on a substantial number of small
entities. The new rule will affect only
BEA’s internal procedures regarding
how it conducts surveys of international
trade in services and direct investment.
None of the proposed changes would
have a direct effect on any businesses,
large or small. Those subject to these
surveys will still be required to respond
to BEA’s requests for information, but
the requests themselves will not be
subject to notice and comment
rulemaking. Therefore, the effect of this
proposed rule is to simplify and
generalize existing regulations
governing the procurement of
information on the international trade in
services and direct investment under
the Act. Because there would be no
impact to small entities as a result of
this change to the regulations, the Chief
Counsel certified that this proposed
Authority: 5 U.S.C. 301; 15 U.S.C. 4908;
22 U.S.C. 3101–3108; E.O. 11961 (3 CFR,
1977 Comp., p. 86), as amended by E.O.
12318 (3 CFR, 1981 Comp. p. 173); and E.O.
12518 (3 CFR, 1985 Comp. p. 348).
Source: 42 FR 64315, Dec. 22, 1977 and 51
FR 7772, Mar. 6, 1986, unless otherwise
noted.
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Purpose.
Definitions.
Reporting Requirements.
Recordkeeping Requirements.
Confidentiality.
Penalties Specified by Law.
§ 801.1
Purpose.
The purpose of this part is to provide
general information on international
trade in services and direct investment
data collection programs and analyses
under the International Investment and
Trade in Services Survey Act (22 U.S.C.
3101 to 3108, as amended) (the Act).
The purpose of the Act is to provide for
the collection of comprehensive and
reliable information pertaining to
international investment, including
international trade in services and direct
investment, and to do so with a
minimum of burden on respondents and
with no unnecessary duplication of
effort.
§ 801.2
Definitions.
For purposes of the Act and for
reporting requirements under this Part:
(a) United States, when used in a
geographic sense, means the several
States, the District of Columbia, the
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Federal Register / Vol. 77, No. 4 / Friday, January 6, 2012 / Proposed Rules
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Commonwealth of Puerto Rico, and all
territories and possessions of the United
States.
(b) Foreign, when used in a
geographic sense, means that which is
situated outside the United States or
which belongs to or is characteristic of
a country other than the United States.
(c) Person means any individual,
branch, partnership, associated group,
association, estate, trust, corporation, or
other organization (whether or not
organized under the laws of any State),
and any government (including a
foreign government, the United States
Government, a State or local
government, and any agency,
corporation, financial institution, or
other entity or instrumentality thereof,
including a government-sponsored
agency).
(d) United States person means any
person resident in the United States or
subject to the jurisdiction of the United
States.
(e) Foreign person means any person
resident outside the United States or
subject to the jurisdiction of a country
other than the United States.
(f) Business enterprise means any
organization, association, branch, or
venture which exists for profit-making
purposes or to otherwise secure
economic advantage, and any
ownership of any real estate.
(g) Services are economic activities
whose outputs are other than tangible
goods. This term includes, but is not
limited to, banking, other financial
services, insurance, transportation,
communications and data processing,
retail and wholesale trade, advertising,
accounting, construction, design,
engineering, management consulting,
real estate, professional services,
entertainment, education, and health
care.
(h) International investment means:
(1) The ownership or control, directly or
indirectly, by contractual commitment
or otherwise, by foreign persons of any
interest in property in the United States,
or of stock, other securities, or shortand long-term debt obligations of a
United States person; and (2) the
ownership or control, directly or
indirectly, by contractual commitment
or otherwise, by United States persons
of any interest in property outside the
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United States, or of stock, other
securities, or short- and long-term debt
obligations of a foreign person.
(i) Direct investment means the
ownership or control, directly or
indirectly, by one person of 10 percent
or more of the voting securities of an
incorporated business enterprise or an
equivalent interest in an unincorporated
business enterprise.
§ 801.3
Reporting Requirements.
(a) Notice of specific reporting
requirements, including who is required
to report, the information to be reported,
the manner of reporting, and the time
and place of filing reports, will be
published by the Director of the Bureau
of Economic Analysis in the Federal
Register prior to the implementation of
a survey.
(b) In accordance with section
3104(b)(2) of title 22 of the United States
Code persons notified of these surveys
and subject to the jurisdiction of the
United States shall furnish, under oath,
any report containing information
which is determined to be necessary to
carry out the surveys and studies
provided for by the Act.
§ 801.4
Recordingkeeping Requirements.
In accordance with section 3104(b)(1)
of title 22 of the United States Code,
persons subject to the jurisdiction of the
United States shall maintain any
information which is essential for
carrying out the surveys and studies
provided for by the Act.
§ 801.5
Confidentiality.
Information collected pursuant to
3104(c) of title 22 of the United States
Code
(a) Access to this information shall be
available only to officials and
employees (including consultants and
contractors and their employees) of
agencies designated by the President to
perform functions under the Act.
(b) Subject to paragraph (d) of this
section, the President may authorize the
exchange of information between
agencies or officials designated to
perform functions under the Act.
(c) Nothing in this part shall be
construed to require any Federal agency
to disclose information otherwise
protected by law.
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Fmt 4702
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(d) This information shall be used
solely for analytical or statistical
purposes or for a proceeding under
§ 801.6.
(e) No official or employee (including
consultants and contractors and their
employees) shall publish or make
available to any other person any
information collected under the Act in
such a manner that the person to whom
the information relates can be
specifically identified.
(f) Reports and copies of reports
prepared pursuant to the Act are
confidential and their submission or
disclosure shall not be compelled by
any person without the prior written
permission of the person filing the
report and the customer of such person
where the information supplied is
identifiable as being derived from the
records of such customer.
§ 801.6
Penalties.
(a) Civil Penalties. Whoever fails to
furnish any information required by the
Act or to comply with any rule,
regulation, order or instruction
promulgated under the Act shall be
subject to a civil penalty of not less than
$2,500, and not more than $25,000, and
to injunctive relief commanding such
person to comply, or both (see 22 U.S.C.
3105(a) and (b)). These civil penalties
are subject to inflationary adjustments
(15 CFR 6.4.).
(b) Criminal Penalties. Whoever
willfully fails to submit any information
required by the Act or willfully violates
any rule, regulation, order or instruction
promulgated under the Act, upon
conviction, shall be fined not more than
$10,000 and, if an individual, may be
imprisoned for not more than one year,
or both. Any officer, director, employee,
or agent of any corporation who
knowingly participates in such
violations, upon conviction, may be
punished by a like fine, imprisonment
or both (see 22 U.S.C. 3105(c)).
PART 806—[RESERVED]
PART 807—[RESERVED]
[FR Doc. 2012–47 Filed 1–5–12; 8:45 am]
BILLING CODE P
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]]>Agencies
[Federal Register Volume 77, Number 4 (Friday, January 6, 2012)]
[Proposed Rules]
[Pages 772-774]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-47]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
15 CFR Parts 801, 806, and 807
[Docket No.: 111012619-1619-01]
RIN 0691-AA81
International Services Surveys and Direct Investment Surveys
Reporting
AGENCY: Bureau of Economic Analysis.
ACTION: Proposed rule; request for comments.
-----------------------------------------------------------------------
SUMMARY: The Bureau of Economic Analysis (BEA) proposes to revise its
rules to establish general guidelines for reporting on international
trade in services and direct investment surveys provided for by the
International Investment and Trade in Services Survey Act (22 U.S.C.
3101 to 3108, (the Act)). In addition to the Act, the Omnibus Trade and
Competitiveness Act of 1988 (15 U.S.C. 4908) provides authority for the
international trade in services surveys. Currently, international trade
in services and direct investment surveys are promulgated through
separate rulemaking actions. This rule will modify the guidelines to
allow such surveys to be issued through notices rather than as more
formal rulemakings. The purpose of this rule is to provide a more
general framework for collection of data on these surveys that are
required, or provided for, by the statutes. The effect of this rule is
to simplify and generalize existing regulations governing the
procurement of information on international trade in services and
direct investment.
DATES: Comments on this proposed rule will receive consideration if
submitted in writing on or before 5 p.m. March 6, 2012.
ADDRESSES: You may submit comments, identified by RIN 0691-AA81, and
referencing the agency name (Bureau of Economic Analysis), by any of
the following methods:
Federal eRulemaking Portal: https://www.regulations.gov.
Follow the instructions for submitting comments. For Keyword or ID,
enter ``EAB-2011-0003.''
Email: David.Galler@bea.gov.
Fax: Office of the Chief, Direct Investment Division,
(202) 606-2894.
Mail: Office of the Chief, Direct Investment Division,
U.S. Department of Commerce, Bureau of Economic Analysis, BE-50,
Washington, DC 20230.
Hand Delivery/Courier: Office of the Chief, Direct
Investment Division, U.S. Department of Commerce, Bureau of
[[Page 773]]
Economic Analysis, BE-50, Shipping and Receiving, Section M100, 1441 L
Street NW., Washington, DC 20005.
FOR FURTHER INFORMATION CONTACT: David H. Galler, Chief, Direct
Investment Division (BE-50), Bureau of Economic Analysis, U.S.
Department of Commerce, Washington, DC 20230; phone (202) 606-9835.
SUPPLEMENTARY INFORMATION: The purpose of the Act is to provide for the
collection of comprehensive and reliable information pertaining to
international investment, including international trade in services and
direct investment, and to do so with a minimum of burden on respondents
and with no unnecessary duplication of effort. The Act specifies that
regular data collection programs and surveys, as specified in the Act
or as deemed necessary by the Secretary of Commerce pursuant to
Executive Order 11961, as amended by Executive Orders 12318 and 12518,
shall be conducted to secure information on international trade in
services and on direct investment, including information that may be
necessary for computing the international transactions and national
income and product accounts and for deriving estimates of direct
investment position and of operations of multinational companies.
The existing regulations (15 CFR parts 801 and 806) implementing
certain provisions of the Act govern the reporting information on
surveys of international trade in services and direct investment and
provide detailed instructions to survey respondents on how to report
and what forms to complete and submit when responding to the surveys.
This method ensures that all potential respondents are notified of the
new survey, but the process can hinder the timely gathering of
information due to the necessary rulemaking steps.
BEA proposes to revise these regulations to generalize the
reporting requirements with respect to these surveys under the Act.
Because of the level of detail included in the existing regulations, a
rulemaking is required each time a change--such as changes in the
survey year for a benchmark survey, the title of a survey, and the
reporting threshold for a survey--is made to a survey. For surveys that
are conducted on an ongoing basis--quarterly, annually, quinqenially--
specific reporting information regarding individual surveys can more
efficiently be issued as notices rather than through individual
rulemakings. BEA can determine the likely universe of survey
respondents through ongoing research of databases and outreach to
professional organizations, so the surveys will continue to receive
similar coverage and response rates even if they are issued as notices.
Finally, there is no requirement in the Act or elsewhere that the
reporting requirements and detailed instructions for such surveys be
issued following notice and comment rulemaking. Therefore, BEA proposes
to remove the current regulations and publish in the Federal Register
notices of future surveys of foreign and direct investment in the
United States and international trade in services.
If this proposed rule is adopted, notice of specific surveys
pertaining to international investment and trade in services and direct
investment, including applicable report forms and instructions, would
now be separately published in the Federal Register. In addition, only
respondents notified of these surveys would be required to respond to
BEA surveys.
Executive Order 12866
This proposed rule has been determined to be not significant for
purposes of E.O. 12866.
Executive Order 13132
This proposed rule does not contain policies with Federalism
implications sufficient to warrant preparation of a Federalism
assessment under E.O. 13132.
Regulatory Flexibility Act
The Chief Counsel for Regulation, Department of Commerce, has
certified to the Chief Counsel for Advocacy, Small Business
Administration, under the provisions of the Regulatory Flexibility Act
(5 U.S.C. 605(b)), that this proposed rulemaking, if adopted, will not
have a significant economic impact on a substantial number of small
entities. The new rule will affect only BEA's internal procedures
regarding how it conducts surveys of international trade in services
and direct investment. None of the proposed changes would have a direct
effect on any businesses, large or small. Those subject to these
surveys will still be required to respond to BEA's requests for
information, but the requests themselves will not be subject to notice
and comment rulemaking. Therefore, the effect of this proposed rule is
to simplify and generalize existing regulations governing the
procurement of information on the international trade in services and
direct investment under the Act. Because there would be no impact to
small entities as a result of this change to the regulations, the Chief
Counsel certified that this proposed rulemaking, if adopted, will not
have a significant economic impact on a substantial number of small
entities. Accordingly, no initial regulatory flexibility analysis is
required, and none has been prepared.
List of Subjects in 15 CFR Part 801
Cross-Border transactions, Credit card, Debit card, Economic
statistics, Foreign investment in the United States, Foreign trade,
International transactions, Penalties, Reporting and recordkeeping
requirements, Travel expenses, U.S. investment abroad.
Dated: December 20, 2011.
J. Steven Landefeld,
Director, Bureau of Economic Analysis.
For the reasons discussed in the preamble, Parts 801, and 806 of
Title 15 of the Code of Federal Regulations are proposed to be revised
to read as follows:
PART 801--SURVEYS OF INTERNATIONAL TRADE IN SERVICES BETWEEN U.S.
AND FOREIGN PERSONS AND SURVEYS OF DIRECT INVESTMENT
Sec.
801.1 Purpose.
801.2 Definitions.
801.3 Reporting Requirements.
801.4 Recordkeeping Requirements.
801.5 Confidentiality.
801.6 Penalties Specified by Law.
Authority: 5 U.S.C. 301; 15 U.S.C. 4908; 22 U.S.C. 3101-3108;
E.O. 11961 (3 CFR, 1977 Comp., p. 86), as amended by E.O. 12318 (3
CFR, 1981 Comp. p. 173); and E.O. 12518 (3 CFR, 1985 Comp. p. 348).
Source: 42 FR 64315, Dec. 22, 1977 and 51 FR 7772, Mar. 6, 1986,
unless otherwise noted.
Sec. 801.1 Purpose.
The purpose of this part is to provide general information on
international trade in services and direct investment data collection
programs and analyses under the International Investment and Trade in
Services Survey Act (22 U.S.C. 3101 to 3108, as amended) (the Act). The
purpose of the Act is to provide for the collection of comprehensive
and reliable information pertaining to international investment,
including international trade in services and direct investment, and to
do so with a minimum of burden on respondents and with no unnecessary
duplication of effort.
Sec. 801.2 Definitions.
For purposes of the Act and for reporting requirements under this
Part:
(a) United States, when used in a geographic sense, means the
several States, the District of Columbia, the
[[Page 774]]
Commonwealth of Puerto Rico, and all territories and possessions of the
United States.
(b) Foreign, when used in a geographic sense, means that which is
situated outside the United States or which belongs to or is
characteristic of a country other than the United States.
(c) Person means any individual, branch, partnership, associated
group, association, estate, trust, corporation, or other organization
(whether or not organized under the laws of any State), and any
government (including a foreign government, the United States
Government, a State or local government, and any agency, corporation,
financial institution, or other entity or instrumentality thereof,
including a government-sponsored agency).
(d) United States person means any person resident in the United
States or subject to the jurisdiction of the United States.
(e) Foreign person means any person resident outside the United
States or subject to the jurisdiction of a country other than the
United States.
(f) Business enterprise means any organization, association,
branch, or venture which exists for profit-making purposes or to
otherwise secure economic advantage, and any ownership of any real
estate.
(g) Services are economic activities whose outputs are other than
tangible goods. This term includes, but is not limited to, banking,
other financial services, insurance, transportation, communications and
data processing, retail and wholesale trade, advertising, accounting,
construction, design, engineering, management consulting, real estate,
professional services, entertainment, education, and health care.
(h) International investment means: (1) The ownership or control,
directly or indirectly, by contractual commitment or otherwise, by
foreign persons of any interest in property in the United States, or of
stock, other securities, or short- and long-term debt obligations of a
United States person; and (2) the ownership or control, directly or
indirectly, by contractual commitment or otherwise, by United States
persons of any interest in property outside the United States, or of
stock, other securities, or short- and long-term debt obligations of a
foreign person.
(i) Direct investment means the ownership or control, directly or
indirectly, by one person of 10 percent or more of the voting
securities of an incorporated business enterprise or an equivalent
interest in an unincorporated business enterprise.
Sec. 801.3 Reporting Requirements.
(a) Notice of specific reporting requirements, including who is
required to report, the information to be reported, the manner of
reporting, and the time and place of filing reports, will be published
by the Director of the Bureau of Economic Analysis in the Federal
Register prior to the implementation of a survey.
(b) In accordance with section 3104(b)(2) of title 22 of the United
States Code persons notified of these surveys and subject to the
jurisdiction of the United States shall furnish, under oath, any report
containing information which is determined to be necessary to carry out
the surveys and studies provided for by the Act.
Sec. 801.4 Recordingkeeping Requirements.
In accordance with section 3104(b)(1) of title 22 of the United
States Code, persons subject to the jurisdiction of the United States
shall maintain any information which is essential for carrying out the
surveys and studies provided for by the Act.
Sec. 801.5 Confidentiality.
Information collected pursuant to 3104(c) of title 22 of the United
States Code
(a) Access to this information shall be available only to officials
and employees (including consultants and contractors and their
employees) of agencies designated by the President to perform functions
under the Act.
(b) Subject to paragraph (d) of this section, the President may
authorize the exchange of information between agencies or officials
designated to perform functions under the Act.
(c) Nothing in this part shall be construed to require any Federal
agency to disclose information otherwise protected by law.
(d) This information shall be used solely for analytical or
statistical purposes or for a proceeding under Sec. 801.6.
(e) No official or employee (including consultants and contractors
and their employees) shall publish or make available to any other
person any information collected under the Act in such a manner that
the person to whom the information relates can be specifically
identified.
(f) Reports and copies of reports prepared pursuant to the Act are
confidential and their submission or disclosure shall not be compelled
by any person without the prior written permission of the person filing
the report and the customer of such person where the information
supplied is identifiable as being derived from the records of such
customer.
Sec. 801.6 Penalties.
(a) Civil Penalties. Whoever fails to furnish any information
required by the Act or to comply with any rule, regulation, order or
instruction promulgated under the Act shall be subject to a civil
penalty of not less than $2,500, and not more than $25,000, and to
injunctive relief commanding such person to comply, or both (see 22
U.S.C. 3105(a) and (b)). These civil penalties are subject to
inflationary adjustments (15 CFR 6.4.).
(b) Criminal Penalties. Whoever willfully fails to submit any
information required by the Act or willfully violates any rule,
regulation, order or instruction promulgated under the Act, upon
conviction, shall be fined not more than $10,000 and, if an individual,
may be imprisoned for not more than one year, or both. Any officer,
director, employee, or agent of any corporation who knowingly
participates in such violations, upon conviction, may be punished by a
like fine, imprisonment or both (see 22 U.S.C. 3105(c)).
PART 806--[RESERVED]
PART 807--[RESERVED]
[FR Doc. 2012-47 Filed 1-5-12; 8:45 am]
BILLING CODE P
