International Services Surveys and Direct Investment Surveys Reporting, 24373-24375 [2012-9849]

Download as PDF Federal Register / Vol. 77, No. 79 / Tuesday, April 24, 2012 / Rules and Regulations Effective Upon Publication SIAPs; and § 97.35 COPTER SIAPs, identified as follows: AIRAC date State 24373 City Airport FDC No. FDC date Subject 31–May–12 ....... KS Manhattan ................... Manhattan Rgnl .......... 1/9111 4/10/12 31–May–12 ....... GA Atlanta ......................... 2/0683 4/10/12 31–May–12 ....... GA Atlanta ......................... 2/0684 4/10/12 ILS OR LOC RWY 8, Amdt 16A. 31–May–12 ....... GA Atlanta ......................... 2/0685 4/10/12 RNAV (GPS) RWY 26, Orig-A. 31–May–12 ....... GA Atlanta ......................... 2/0686 4/10/12 RNAV (GPS) Y RWY 8, Orig-A. 31–May–12 ....... NC Charlotte ..................... Fulton County AirportBrown Field. Fulton County AirportBrown Field. Fulton County AirportBrown Field. Fulton County AirportBrown Field. Charlotte/Douglas Intl Takeoff Minimums and Obstacle DP, Amdt 7. VOR A, Orig-A. 2/0925 4/10/12 31–May–12 ....... NC Charlotte ..................... Charlotte/Douglas Intl 2/0926 4/10/12 31–May–12 31–May–12 31–May–12 31–May–12 ....... ....... ....... ....... TX TX TN IN Dallas-Fort Worth ....... Dallas-Fort Worth ....... Covington .................... Indianapolis ................. Dallas/Fort Worth Intl .. Dallas/Fort Worth Intl .. Covington Muni ........... Indianapolis Intl ........... 2/1044 2/1048 2/1215 2/7773 4/10/12 4/10/12 4/10/12 4/10/12 31–May–12 ....... IN Indianapolis ................. Indianapolis Intl ........... 2/7774 4/10/12 ILS OR LOC RWY 18R, ILS RWY 18R (CAT II), ILS RWY 18R (CAT III), Orig-A. ILS OR LOC RWY 36L, ILS RWY 36L (CAT II), ILS RWY 36L (CAT III), Orig-A. VOR RWY 31L, Orig. VOR RWY 13R, Amdt 1. RNAV (GPS) RWY 1, Orig. ILS OR LOC RWY 5L, ILS RWY 5L (CAT II), ILS RWY 5L (CAT III), Amdt 3C. ILS OR LOC RWY 5R, ILS RWY 5R (CAT II), ILS RWY 5R (CAT III), Amdt 5B. [FR Doc. 2012–9738 Filed 4–23–12; 8:45 am] BILLING CODE 4910–13–P DEPARTMENT OF COMMERCE Bureau of Economic Analysis 15 CFR Parts 801, 806, and 807 [Docket No. 111012619–2230–03] RIN 0691–AA81 International Services Surveys and Direct Investment Surveys Reporting Bureau of Economic Analysis. Final rule. AGENCY: ACTION: The Bureau of Economic Analysis (BEA) revises its rules to establish general guidelines for how BEA will collect data on international trade in services and direct investment surveys, which are provided for by the International Investment and Trade in Services Survey Act (the Act). In addition to the Act, the Omnibus Trade and Competitiveness Act of 1988 authorizes BEA to conduct international trade in services surveys. Currently, international trade in services and direct investment surveys are promulgated through separate rulemaking actions. This final rule modifies BEA’s regulations to allow BEA to issue surveys through notices rather than through notice and comment rulemaking. It also provides a more mstockstill on DSK4VPTVN1PROD with RULES SUMMARY: VerDate Mar<15>2010 16:38 Apr 23, 2012 Jkt 226001 general framework for how BEA collects data on these surveys that are required, or provided for, by the statutes. This rule will simplify and generalize existing regulations governing the procurement of information on international trade in services and direct investment. DATES: The final rule is effective on May 24, 2012. 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; email David.Galler@bea.gov or phone (202) 606–9835. SUPPLEMENTARY INFORMATION: On January 6, 2012, BEA published a notice of proposed rulemaking to amend 15 CFR parts 801, 806, and 807 to set forth 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)), 77 FR 772. For surveys that are conducted on an ongoing basis—quarterly, annually, quinqenially—BEA proposed to issue specific reporting information regarding individual surveys through notices rather than through notice and comment rulemaking. This rule implements the proposed rule. Under this rule, notices of specific surveys pertaining to international investment and trade in services and PO 00000 Frm 00033 Fmt 4700 Sfmt 4700 direct investment, including applicable report forms and instructions, will be separately published in the Federal Register. Only respondents notified of these surveys are required to respond to BEA surveys. BEA received no comments on the proposed rule, and adopts the proposed rule without change. Accordingly, now surveys on international trade in services and on direct investment will be issued by a notice in the Federal Register, and will also be sent to individual respondents. Entities that do not receive a notice of the survey from BEA are not required to complete the survey. Executive Order 12866 This final rule has been determined to be not significant for purposes of E.O. 12866. Executive Order 13132 This final 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, 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 final rule will not have a significant economic impact on a substantial number of small E:\FR\FM\24APR1.SGM 24APR1 24374 Federal Register / Vol. 77, No. 79 / Tuesday, April 24, 2012 / Rules and Regulations entities. The rule affects only BEA’s internal procedures regarding how it conducts surveys of international trade in services and direct investment. None of the changes will 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 final 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 will be no impact to small entities as a result of this change to the regulations, the Chief Counsel certified that this final rulemaking will not have a significant economic impact on a substantial number of small entities. Accordingly, no final regulatory flexibility analysis is required, and none has been prepared. Paperwork Reduction Act This rule contains no information collection requests as defined in the Paperwork Reduction Act (44 USC 3501–3521). However, as necessary the individual notices of surveys will include a description of the paperwork burden associated with completing the survey, and provide the control number from the Office of Management and Budget (OMB) for any survey issued pursuant to this rule. No one is required to answer any request by the government for information that does not contain an approved OMB control number. List of Subjects 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, United States investment abroad. 15 CFR Part 806 Economic statistics, Foreign investments in United States, Reporting and recordkeeping requirements, United States investments abroad. mstockstill on DSK4VPTVN1PROD with RULES 15 CFR Part 807 Libraries. Dated: April 15, 2012. J. Steven Landefeld, Director, Bureau of Economic Analysis. For the reasons discussed in the preamble, 15 CFR chapter VIII is amended as follows: VerDate Mar<15>2010 16:38 Apr 23, 2012 Jkt 226001 1. Part 801 is 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. 801.1 801.2 801.3 801.4 801.5 801.6 Purpose. Definitions. Reporting requirements. Recordkeeping requirements. Confidentiality. 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). § 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 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. PO 00000 Frm 00034 Fmt 4700 Sfmt 4700 (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. § 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. E:\FR\FM\24APR1.SGM 24APR1 Federal Register / Vol. 77, No. 79 / Tuesday, April 24, 2012 / Rules and Regulations § 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 is confidential. (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 § 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. mstockstill on DSK4VPTVN1PROD with RULES § 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 VerDate Mar<15>2010 16:38 Apr 23, 2012 Jkt 226001 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—[REMOVED AND RESERVED] 2. Under the authority of 5 U.S.C. 301, part 806 is removed and reserved. ■ PART 807—[REMOVED AND RESERVED] 3. Under the authority of 5 U.S.C. 301, part 806 is removed and reserved. ■ [FR Doc. 2012–9849 Filed 4–23–12; 8:45 am] BILLING CODE P DEPARTMENT OF HOMELAND SECURITY U.S. Customs and Border Protection DEPARTMENT OF THE TREASURY 19 CFR Parts 133 and 151 [USCBP–2012–0011; CBP Dec. 12–10] RIN 1515–AD87 Disclosure of Information for Certain Intellectual Property Rights Enforced at the Border U.S. Customs and Border Protection, Department of Homeland Security; Department of the Treasury. ACTION: Interim rule; solicitation of comments. AGENCIES: This document amends, on an interim basis, the U.S. Customs and Border Protection (CBP) regulations pertaining to importations of merchandise bearing recorded trademarks or recorded trade names. The interim amendments, effective upon publication in the Federal Register, allow CBP, subject to limitations, to disclose to an intellectual property right holder information appearing on merchandise or its retail packaging that may comprise information otherwise protected by the Trade Secrets Act, for the purpose of assisting CBP in determining whether the merchandise bears a counterfeit mark. Such information will be provided to the right holder in the form of photographs or a sample of the goods and/or their retail packaging in their condition as presented to CBP for examination and alphanumeric codes SUMMARY: PO 00000 Frm 00035 Fmt 4700 Sfmt 4700 24375 appearing on the goods. The information will include, but not be limited to, serial numbers, universal product codes, and stock keeping unit (SKU) numbers appearing on the imported merchandise and its retail packaging, whether in alphanumeric or other formats. These changes provide a pre-seizure procedure for disclosing information about imported merchandise suspected of bearing a counterfeit mark for the limited purpose of obtaining the right holder’s assistance in determining whether the mark is counterfeit or not. DATES: Effective April 24, 2012; comments must be received on or before June 25, 2012. ADDRESSES: You may submit comments, identified by docket number, by one of the following methods: • Federal eRulemaking Portal: https:// www.regulations.gov. Follow the instructions for submitting comments via docket number USCBP 2012–0011. • Mail: Trade and Commercial Regulations Branch, Office of International Trade, Regulations and Rulings, U.S. Customs and Border Protection, 799 9th Street NW. (Mint Annex), Washington, DC 20229–1179. Instructions: All submissions received must include the agency name and docket number for this interim rulemaking. All comments received will be posted without change to https:// www.regulations.gov, including any personal information provided. For detailed instructions on submitting comments and additional information on the rulemaking process, see the ‘‘Public Participation’’ heading of the SUPPLEMENTARY INFORMATION section of this document. Docket: For access to the docket to read background documents or comments received, go to https:// www.regulations.gov. Submitted comments may also be inspected during regular business days between the hours of 9 a.m. and 4:30 p.m. at the Trade and Commercial Regulations Branch, Office of International Trade, Regulations and Rulings, U.S. Customs and Border Protection, 799 9th Street NW., 5th Floor, Washington, DC. Arrangements to inspect submitted comments should be made in advance by calling Joseph Clark at (202) 325–0118. FOR FURTHER INFORMATION CONTACT: Paul Pizzeck, Intellectual Property Rights Branch, Regulations and Rulings, Office of International Trade, (202) 325–0020. SUPPLEMENTARY INFORMATION: Public Participation Interested persons are invited to participate in this rulemaking by E:\FR\FM\24APR1.SGM 24APR1

Agencies

[Federal Register Volume 77, Number 79 (Tuesday, April 24, 2012)]
[Rules and Regulations]
[Pages 24373-24375]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-9849]


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DEPARTMENT OF COMMERCE

Bureau of Economic Analysis

15 CFR Parts 801, 806, and 807

[Docket No. 111012619-2230-03]
RIN 0691-AA81


International Services Surveys and Direct Investment Surveys 
Reporting

AGENCY: Bureau of Economic Analysis.

ACTION: Final rule.

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

SUMMARY: The Bureau of Economic Analysis (BEA) revises its rules to 
establish general guidelines for how BEA will collect data on 
international trade in services and direct investment surveys, which 
are provided for by the International Investment and Trade in Services 
Survey Act (the Act). In addition to the Act, the Omnibus Trade and 
Competitiveness Act of 1988 authorizes BEA to conduct international 
trade in services surveys. Currently, international trade in services 
and direct investment surveys are promulgated through separate 
rulemaking actions. This final rule modifies BEA's regulations to allow 
BEA to issue surveys through notices rather than through notice and 
comment rulemaking. It also provides a more general framework for how 
BEA collects data on these surveys that are required, or provided for, 
by the statutes. This rule will simplify and generalize existing 
regulations governing the procurement of information on international 
trade in services and direct investment.

DATES: The final rule is effective on May 24, 2012.

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; email 
David.Galler@bea.gov or phone (202) 606-9835.

SUPPLEMENTARY INFORMATION: On January 6, 2012, BEA published a notice 
of proposed rulemaking to amend 15 CFR parts 801, 806, and 807 to set 
forth 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)), 77 FR 772. For surveys that are conducted on 
an ongoing basis--quarterly, annually, quinqenially--BEA proposed to 
issue specific reporting information regarding individual surveys 
through notices rather than through notice and comment rulemaking.
    This rule implements the proposed rule. Under this rule, notices of 
specific surveys pertaining to international investment and trade in 
services and direct investment, including applicable report forms and 
instructions, will be separately published in the Federal Register. 
Only respondents notified of these surveys are required to respond to 
BEA surveys.
    BEA received no comments on the proposed rule, and adopts the 
proposed rule without change. Accordingly, now surveys on international 
trade in services and on direct investment will be issued by a notice 
in the Federal Register, and will also be sent to individual 
respondents. Entities that do not receive a notice of the survey from 
BEA are not required to complete the survey.

Executive Order 12866

    This final rule has been determined to be not significant for 
purposes of E.O. 12866.

Executive Order 13132

    This final 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, 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 final rule will not have a significant economic impact on a 
substantial number of small

[[Page 24374]]

entities. The rule affects only BEA's internal procedures regarding how 
it conducts surveys of international trade in services and direct 
investment. None of the changes will 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 final 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 will be no impact to small 
entities as a result of this change to the regulations, the Chief 
Counsel certified that this final rulemaking will not have a 
significant economic impact on a substantial number of small entities. 
Accordingly, no final regulatory flexibility analysis is required, and 
none has been prepared.

Paperwork Reduction Act

    This rule contains no information collection requests as defined in 
the Paperwork Reduction Act (44 USC 3501-3521). However, as necessary 
the individual notices of surveys will include a description of the 
paperwork burden associated with completing the survey, and provide the 
control number from the Office of Management and Budget (OMB) for any 
survey issued pursuant to this rule. No one is required to answer any 
request by the government for information that does not contain an 
approved OMB control number.

List of Subjects

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, United States investment abroad.

15 CFR Part 806

    Economic statistics, Foreign investments in United States, 
Reporting and recordkeeping requirements, United States investments 
abroad.

15 CFR Part 807

    Libraries.

    Dated: April 15, 2012.
J. Steven Landefeld,
Director, Bureau of Economic Analysis.
    For the reasons discussed in the preamble, 15 CFR chapter VIII is 
amended as follows:

0
1. Part 801 is 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).


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 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.

[[Page 24375]]

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 is confidential.
    (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--[REMOVED AND RESERVED]

0
2. Under the authority of 5 U.S.C. 301, part 806 is removed and 
reserved.

PART 807--[REMOVED AND RESERVED]

0
3. Under the authority of 5 U.S.C. 301, part 806 is removed and 
reserved.

[FR Doc. 2012-9849 Filed 4-23-12; 8:45 am]
BILLING CODE P