Order of the Commodity Futures Trading Commission Relating to the Continuation, Shutdown, and Resumption of Certain Commission Operations in the Event of a Lapse in Appropriations, 60260-60264 [2013-24084]
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Federal Register / Vol. 78, No. 190 / Tuesday, October 1, 2013 / Notices
Item
Average drawing
cost
($)
Responses
Average total
drawing cost
($)
Utility Application Drawings .......................................................................................
Design Application Drawings .....................................................................................
Plant Application Drawings (Photographs) ................................................................
Provisional Application Drawings ..............................................................................
220,605
31,945
1,301
141,757
$1,035
1,737
612
1,035
$228,326,175.00
55,488,465.00
796,212.00
146,718,495.00
Total ....................................................................................................................
..............................
..............................
431,329,347.00
There is also annual (non-hour) cost
burden in the way of filing fees for the
petitions to accept a filing by other than
all the inventors or a person not the
inventor. The filing fees for the
applications, the petitions to accept
unintentionally delayed priority/benefit
claims, the processing fees for the
papers filed under 37 CFR 1.41, 1.48,
and 1.53(c)(2), the additional fees
incurred when an application is filed
with additional sheets or excess claims,
and the surcharges and fees incurred
when an application, the search or
examination fee, or the oath or
declaration is filed late, when the
application is filed with multiple
dependent claims, or when the
application is filed with a non-English
specification are covered under 0651–
0072 America Invents Act Section 10
Patent Fee Adjustments.
The total estimated filing costs of
$220,000 for this collection are
calculated in the following table.
Resps (yr)
(a)
Item
Filing fee
($)
Total non-hour
cost burden
(yr)
(a) × (b)
Petition to Accept a Filing by Other Than all the Inventors or a Person not the Inventor .........
Electronic Petition to Accept a Filing by Other Than all the Inventors or a Person not the Inventor .......................................................................................................................................
Petition under 37 CFR 1.6(g) to accord the Application under 37 CFR 1.495(b) a Receipt
Date ..........................................................................................................................................
33
$200.00
$6,600.00
1,067
200.00
213,400.00
1
N/A
0.00
Totals ....................................................................................................................................
1,101
........................
220,000.00
e.g., permitting electronic submission of
responses.
The USPTO estimates that the total
annual (non-hour) respondent cost
burden for this collection, in the form of
postage and drawing costs, in addition
to petition fees, is estimated to be
approximately $431,933,422 per year.
Dated: September 25, 2013.
Susan K. Fawcett,
Records Officer, USPTO, Office of the Chief
Information Officer.
IV. Request for Comments
[FR Doc. 2013–23790 Filed 9–30–13; 8:45 am]
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BILLING CODE 3510–16–P
Comments submitted in response to
this notice will be summarized and/or
included in the USPTO’s request for
OMB approval. All comments will
become a matter of public record.
The USPTO is soliciting public
comments to: (a) Evaluate whether the
proposed collection of information is
necessary for the proper performance of
the functions of the agency, including
whether the information will have
practical utility; (b) Evaluate the
accuracy of the agency’s estimate of the
burden of the proposed collection of
information, including the validity of
the methodology and assumptions used;
(c) Enhance the quality, utility, and
clarity of the information to be
collected; and (d) Minimize the burden
of the collection of information on those
who are to respond, including through
the use of appropriate automated,
electronic, mechanical, or other
technological collection techniques or
other forms of information technology,
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COMMODITY FUTURES TRADING
COMMISSION
Order of the Commodity Futures
Trading Commission Relating to the
Continuation, Shutdown, and
Resumption of Certain Commission
Operations in the Event of a Lapse in
Appropriations
Commodity Futures Trading
Commission
AGENCY:
ACTION:
Notice of order; final order.
This order is being issued to
provide for the continuation, shutdown,
and resumption of certain operations of
the Commodity Futures Trading
Commission (the ‘‘Commission’’) in the
event of a lapse in appropriations, and
to alert all persons regulated by or
engaged in proceedings at the
Commission of these provisions.
SUMMARY:
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This notice and order is effective
on September 27, 2013.
FOR FURTHER INFORMATION CONTACT: For
market oversight matters contact David
Van Wagner, Chief Counsel, Division of
Market Oversight (DMO), at 202–418–
5481 or dvanwagner@cftc.gov, Matthew
Hunter, Deputy Director, DMO at 202–
418–5861 or mhunter@cftc.gov. For
clearing matters, contact Ananda
Radhakrishnan, Director, Division of
Clearing and Risk (DCR), at 202–418–
5188 or aradhakrishnan@cftc.gov;
Robert B. Wasserman, Chief Counsel,
DCR, at 202–418–5092 or rwasserman@
cftc.gov; or John C. Lawton, Deputy
Director, DCR, at 202–418–5480, or
jlawton@cftc.gov. For matters involving
intermediaries, contact Gary Barnett,
Director, Division of Swap Dealer and
Intermediary Oversight (DSIO), 202–
418–5977 or gbarnett@cftc.gov; Thomas
Smith, Deputy Director, DSIO, at 202–
418–5495 or tsmith@cftc.gov; Erik
Remmler, Deputy Director, DSIO, at
202–418–7630 or eremmler@cftc.gov; or
Kevin Piccoli, Deputy Director, DSIO, at
646–746–9834 or kpiccoli@cftc.gov.
SUPPLEMENTARY INFORMATION:
DATES:
I. Background
As of 12:01 a.m. on October 1, 2013,
the funding of many federal government
activities is set to expire. Unless
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appropriations are enacted for Fiscal
Year 2014, federal departments and
agencies whose continued operations
are dependent upon such funding—
including the Commission—will be
required to execute contingency plans
for this lapse in appropriations
(commonly referred to as a
‘‘shutdown’’). Under 31 U.S.C. 1341 (the
‘‘Antideficiency Act’’), the Commission
is prohibited from expending or
obligating any funds in the absence of
appropriations, subject to a narrow set
of exceptions.1 The Commission may
use one of the exceptions to the
Antideficiency Act set forth in 31 U.S.C.
1342, which permits agencies to obligate
funds before an appropriations measure
has been enacted and to accept
voluntary services during a lapse when
certain employees are needed to
perform emergency or ‘‘excepted’’
functions.2
The Department of Justice’s Office of
Legal Counsel has determined that
government work performed so that the
commodities and futures markets can
continue to operate and so that trading
may continue qualifies as an ‘‘excepted’’
function as set forth in 31 U.S.C. 1342.3
OLC Memorandum for the Director of
the Office of Management and Budget,
Government Operations in the Event of
a Lapse in Appropriations, OLC
1 The Antideficiency Act provides that an officer
or employee of the United States may not make or
authorize an expenditure or obligation exceeding an
amount in an appropriation or fund for the
expenditure or obligation; involve the government
in a contract or obligation for the payment of money
before an appropriation is made unless authorized
by law; make or authorize an expenditure or
obligation of funds required to be sequestered under
section 252 of the Balanced Budget and Emergency
Deficit Control Act of 1985; or involve the
government in a contract or obligation for the
payment of money required to be sequestered under
section 252 of the Balanced Budget and Emergency
Deficit Control Act of 1985.
2 Section 1342 of Title 31 of the U.S. code
provides that an officer or employee of the United
States Government may not accept voluntary
services for the government or employ personal
services exceeding that authorized by law except for
emergencies involving the safety of human life or
the protection of property. As used in this section,
the term ‘‘emergencies involving the safety of
human life or the protection of property’’ does not
include ongoing, regular functions of government
the suspension of which would not imminently
threaten the safety of human life or the protection
of property.
3 Specifically, the Department of Justice’s Office
of Legal Counsel has opined that: ‘‘In the absence
of government supervision, the stock markets,
commodities and futures exchanges would be
unable to operate . . . these actions and the others
required as part of a true shut down of the federal
government would impose significant health and
safety risks on millions of Americans, some of
which would undoubtedly result in the loss of
human life, and they would immediately result in
massive dislocations of and losses to the private
economy, as well as disruptions of many aspects of
society and of private activity generally, producing
incalculable amounts of suffering and loss.’’ Id.
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Opinion, at 2–3 (Aug. 16, 1995).
Consequently, in the event of a lapse in
appropriations, the Commission may
incur obligations to allow certain
employees who perform ‘‘excepted’’
functions to continue to perform those
functions. This authority, however, does
not permit the Commission to fund
ongoing, regular functions, the
suspension of which would not
imminently threaten the safety of
human life or the protection of property
during a lapse in appropriations. Id. at
1 (citing 31 U.S.C. 1342). Thus, the
Commission has designated certain
essential personnel to fulfill its
obligation to protect property.
The Commission’s regulations, found
in title 17 of the Code of Federal
Regulations, place a number of filing
obligations on registered entities,
intermediaries, market participants and
the public within specified time frames,
establish Commission authority to stay
certain actions by designated and
registered entities, and also include
provisions relating to requests for
Commission approval and issuance of
exemption and interpretative relief and
guidance with specific time frames for
Commission action. The Commission
has reviewed its statute and regulations
in light of its obligation to protect the
safety of human life or the protection of
property to determine which
Commission operations will continue
during a lapse in appropriations.
A. Tolling and Extension of Certain
Procedural Time Limits Applicable to
the Commission
In the event of a lapse in
appropriations, the Commission will not
be processing or reviewing filings for
Commission discretionary or mandatory
approval or any other actions that are
not directly related to the safety of
human life or the protection of property.
Matters not directly related to the
protection of property include rule, rule
amendment, and contract certifications
filed with the Commission, rule
amendments and contracts voluntarily
submitted for Commission approval or
review; requests for contract market
designation, swap execution facility,
swap data repository, derivatives
clearing organization, and foreign board
of trade registration; and other requests
for Commission approval or other
action.
The above-mentioned matters do not
include any emergency notifications
that may be required by Commission
regulations of designated or registered
entities and intermediaries, or that are
required by any rule of a registered
entity that has been approved by or selfcertified to the Commission. This
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includes emergency rules certified
pursuant to regulation 40.6(a)(6) and (7)
and emergency changes certified by a
systemically important derivatives
clearing organization pursuant to
regulation 40.10(h).
More specifically, matters not directly
related to the protection of property
include filings under judicially
reinstated regulations 1.47 and 1.48
(bona fide hedge requests), part 30
(regulation 30.10 petitions for
exemption and regulation 30.13 requests
for certification), part 37 (swap
execution facilities applications,
demonstrations of compliance with core
principles), part 38 (designated contract
market applications, certifications of
continued compliance in situations of
merger or sale, and demonstrations of
compliance with the core principles),
part 39 (derivatives clearing
organization applications, Commission
review of swaps for determinations on
clearing requirement, requests for orders
regarding competition, and
demonstrations of compliance with the
core principles), part 40 (rule and
contract filings–certifications and
approvals and requests for confidential
treatment of submissions, stays of
certifications pursuant to regulation
40.12, determinations related to making
swaps available to trade), part 41 (filing
of notice-designated contract markets
trading security futures products), part
48 (foreign board of trade registrations,
adjudication of additional contracts for
trading), and part 49 (swap data
repository applications, registration of
successor entities).
Matters not directly related to the
protection of property additionally
include requests pursuant to regulations
145.7 and 145.9 (requests for
Commission records, petitions for
confidential treatment of information
submitted to the Commission, and
appeals of FOIA decisions), regulation
140.99 filings (requests for exemptive,
no-action and interpretive letters), and
part 165 (processing of whistleblower
applications and appeals, and payments
related to whistleblower awards).
For the foregoing matters that are
currently pending before the
Commission pursuant to any of these
provisions, all applicable time deadlines
for Commission action will be tolled
until the Commission is able to resume
full operations. For such matters, the
time remaining for Commission action
will begin to run on the first business
day following the resumption of
Commission operations. For the
foregoing matters arising during a lapse
in appropriations, any time limit for
Commission action shall begin to run on
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the first business day following the
resumption of Commission operations.
Matters not directly related to the
protection of property also include
certain procedural regulations
associated with Commission
adjudicatory actions, in particular
certain rules under part 3 (procedure to
deny, condition, or suspend, revoke, or
place restrictions on registration), part 9
(related to review of exchange
disciplinary, access denial or other
adverse actions), part 10 (the
Commission’s rules of practice for
adjudicatory proceedings before the
Commission), part 12 (rules related to
reparations proceedings), and part 171
(review of National Futures Association
decisions). For these matters that are
currently pending before the
Commission pursuant to any of these
provisions, or that arise during a lapse
in appropriations, all applicable time
deadlines for Commission action will be
tolled until the Commission is able to
resume full operations. Moreover, all
applicable filing deadlines for parties to
an adjudicative proceeding that arise
during a lapse in appropriations will be
extended until one business day after
the Commission resumes its operations.
B. Continued Processing, Review, and
Action Related to Certain Agency
Regulations
The Commission’s regulations also
impose filing obligations on registered
entities, intermediaries, market
participants and the public. The
Commission has determined that certain
filing requirements relate to the
Commission’s obligation to protect the
safety of human life or property even
during a lapse of appropriations.
Accordingly, such filings will continue
to review, process, and take any
necessary or appropriation action taken,
during a lapse in appropriations for the
purpose of protecting the safety of
human life or the property in
accordance with the Commodity
Exchange Act (CEA) and its
implementing regulations..
This category includes regulation 1.10
and 5.12 filings (financial reports of
futures commission merchants (FCMs),
introducing brokers (IBs), and retail
foreign exchange dealers), regulation
1.12 and 5.6 filings (notice provisions
required of FCMs, IBs, and RFEDs),
regulation 1.15 filings (risk assessment
reporting requirements), regulation 1.16
filings (reports of accountants),
regulation 1.17 filings (capital
requirements (business days would
include those days the Commission is
shut down for purposes of requirements
relating to margin calls and the
computation of margin) and any notice
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provision requirements),4 regulation
1.18 filings (current books and records),
regulation 1.65 and 5.23 filings (notice
of bulk transfers (a business day would
include those days the Commission is
shutdown)), regulation 39.19
(derivatives clearing organization
reporting requirements), regulation
40.6(a)(6) and (7) (emergency rule
certifications), and regulation 40.10(h)
(emergency changes certified by
systemically important derivatives
clearing organizations).
This category also includes part 15
filings (general reporting requirements),
part 16 filings (clearing member
reports), part 17 filings (FCM reports),
part 18 filings (reports by traders), part
19 filings (bona fide hedge position
reports), part 20 filings (large trader
reporting for physical commodity
swaps), part 21 filings (special call
provisions), part 190 filings (bankruptcy
rules), and regulation 40.6 filings
(emergency rules of a registered entity).
In addition, the Commission shall
process, review, and take any necessary
or appropriate action related to, chief
compliance officer, swap valuation
dispute, and risk exposure reports,
pursuant to regulations 3.3(e), 23.502(c),
and 23.600(c), respectively, from swap
dealers, major swap participants, and
futures commission merchants, as
applicable.5 Swap execution facilities,
designated contract markets, derivatives
clearing organizations, and swap data
repositories financial resources reports
required by regulations 37.1306,
38.1101, 39.11, and 49.25, respectively,
also will continue to be processed,
reviewed, and subject to necessary and
appropriate action.
The Commission’s regulations require
and industry practice provides for
notification to the Commission and its
staff of certain emergency situations.
Thus, the Commission will continue to
process, review, and take any necessary
or appropriate action related to
notifications by registered entities and
intermediaries of emergency situations
such as system malfunctions, cyber
security incidents or financial
emergencies throughout a lapse in
appropriations.
4 Generally, the Commission’s regulations define
business day to exclude only Saturday, Sunday, and
federal holidays. Thus, a shutdown would not affect
the timely processing, review, and action that may
be necessary and appropriate related to the
operation of these rules.
5 Futures commission merchants are not required
to submit swap valuation dispute or risk exposure
reports to the Commission under regulations
23.502(c) and 23.600(c), respectively.
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C. Extension of Open Comment Periods
on Proposed Regulation and Other
Matters That May Be Subject to a
Request for Comment by the
Commission.
Finally, the Commission has proposed
a number of rules to implement the CEA
and certain provisions of the Wall Street
Reform and Consumer Protection Act
for which the comment period may
expire while the Commission is
shutdown. The Commission will be
unable to process comment submissions
until it resumes full operations, as such
processing is unrelated to the protection
of property. Therefore, the Commission
is extending the comment periods for
such rules, and for any other matters
that may be subject to a request for
comment by the Commission, until one
business day after the Commission is
able to resume full operations. Notice of
the resumption of Commission
operations at the conclusion of a
shutdown will be provided on the
Commission’s Web site.
II. Administrative Compliance
A. Administrative Procedure Act
To the extent that some of the
provisions of this order may be subject
to notice and comment under the
Administrative Procedure Act (APA),6
and may be subject to the provisions of
the APA that require publication or
service of a substantive rule be made not
less than 30 days before its effective
date,7 the Commission for good cause
finds that notice and comment and a
delayed effective date are impracticable
and contrary to the public interest. The
Commission may be obligated to
commence orderly shutdown of its
operations at the commencement of
business on October 1 and has
determined that it is in the interest of
the public and the markets it regulates
to have established and publicized its
procedures for limiting its operations to
only those that are essential to the
protection of property before that time.
Moreover, though the tolling of
certain procedural time limits will delay
the Commission’s review and approval
of certain industry filings, the review
and approval provisions in the
Commission’s regulations implement
review and approval provisions of the
CEA in order to protect the public
interest. It would be contrary to the
CEA, and to the public interest, if these
review and approval time limits
continued to run while the Commission
is unable to conduct routine business.
6 See
7 See
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5 U.S.C. 553(b).
5 U.S.C. 553(d).
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Finally, in order to protect the
property interests of the public related
to the orderly operation of the futures
markets, the Commissioners will be
supported by essential personnel in the
surveillance of the markets in order to
identify any emergency market
situations that may require action to
protect the safety of human life or
property during a lapse in
appropriations. It therefore is essential
that reporting regulations associated
with market surveillance and emergency
notices continue to be processed and
reviewed.
B. Paperwork Reduction Act
The Paperwork Reduction Act
provides that an agency may not
conduct or sponsor, and a person is not
required to respond to, a collection of
information unless it has been approved
by the Office of Management and
Budget (OMB) and displays a currently
valid control number.8 The collections
of information referenced in this notice
and order have valid control numbers
that are currently in effect. Therefore,
the Commission is not obligated to seek
a control number in connection with
this order.
C. Regulatory Flexibility Act
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The Regulatory Flexibility Act (RFA)
requires the Commission to consider
whether a rule it proposes will have a
significant economic impact on a
substantial number of small entities and
either provide a regulatory flexibility
analysis respecting the significant
impact or certify that the rule will not
have such an impact.9 The RFA is
applicable only to a rule for which the
Commission publishes a general notice
of proposed rulemaking pursuant to 5
U.S.C. 553(b).10
The Commission is not publishing
this order as a general notice of
proposed rulemaking. Therefore, neither
a regulatory flexibility analysis nor a
certification is required for this
rulemaking action. Nonetheless, this
order will impose no new regulatory
obligations on any party. Rather, it
simply establishes the limited
regulatory framework under which the
Commission will operate during a
shutdown in order to ensure the
protection of property.
D. Cost Benefit Analysis
Section 15(a) of the CEA 11 requires
the Commission to consider the costs
and benefits of its actions before
III. Order
In light of the foregoing, the
Commission has determined to issue the
following Order, pursuant to its
8 44
U.S.C. 3501 et seq.
U.S.C. 601 et seq.
10 5 U.S.C. 601(2).
11 7 U.S.C. 19(a).
95
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promulgating a regulation under the
CEA. Section 15(a) specifies that the
costs and benefits shall be considered
against five broad areas of market and
public concern: (1) Protection of market
participants and the public; (2)
efficiency, competitiveness and
financial integrity of futures markets; (3)
price discovery; (4) sound risk
management practices; and (5) other
public interest considerations. The
Commission may give greater weight to
one or more of the five enumerated
considerations to determine, in its
discretion, that a particular rule is
necessary or appropriate to protect the
public interest or to effectuate any of the
provisions or accomplish any of the
purposes of the CEA.
This order imposes the cost of delay
on parties with petitions for approval,
self-certification filings, rights of review,
and adjudicative matters before the
Commission. As the Commission would
be limited by law during a lapse in
appropriations to function only with
respect to the protection of property,
these costs are unavoidable.
In terms of benefits, this order
provides for the limited continuation of
Commission business. The order also
confirms the ongoing regulatory
obligations of registered entities and
intermediaries notwithstanding a
shutdown, in order to ensure that the
Commission has available to it all
information necessary to identify
emergency situations and take action to
protect property and, hence, to protect
market participants and the public, the
efficiency and financial integrity of the
futures markets, and price discovery.
The order also notifies market
participants and the public of the
matters in which the Commission will
be engaged, as well as of the tolling and
extensions of time put in place with
respect to filings under Commission
regulations. Tolling ensures that the
Commission will have an opportunity to
review routine industry filings once a
lapse in appropriations is resolved and
take steps if necessary to protect the
interests of the market and the public
before those filings are finalized. The
extensions of time ensure that all
persons with filing obligations in certain
adjudicative proceedings that arise
during a shutdown or who wish to
submit comments during a comment
period that will close during a
shutdown will not be prejudiced by the
inability of the Commission to accept
those filings or comments.
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60263
authority under the provisions of the
Commodity Exchange Act, 7 U.S.C. 1 et
seq., and in compliance with the AntiDeficiency Act, 31 U.S.C. 1341 and
1342.
It is hereby ordered that, in the event
of a lapse in appropriations (also
referred to as ‘‘shutdown’’) commencing
at 12:01 a.m. on October 1, 2013, the
Commission will commence operating
according to the procedures set forth in
this Order, with respect to its
regulations found in title 17 of the Code
of Federal Regulations:
1. Tolling and Extension of Certain
Procedural Time Limits. The
Commission shall not process any
filings, or review any matters for
Commission approval or action to the
extent that the matters are not directly
related to the protection of property for
the duration of a shutdown. This
applies to rule, rule amendment and
contract certifications, except for
emergency rules certified pursuant to
regulation 40.6(a)(6) and (7), and
emergency changes certified pursuant to
regulation 40.10(h); rules, rule
amendments and contracts voluntarily
submitted for Commission approval or
review; requests for contract market
designation, and swap execution
facility, swap data repository,
derivatives clearing organization, and
foreign board of trade registration; and
other requests for Commission approval
or other action.
Specifically, except as otherwise
provided in this order, applications
under judicially reinstated sections 1.47
and 1.48, sections 30.10 and 30.13, and
parts 36, 37, 38, 39, 40 41, 48, and 49
of the Commission’s regulations
officially shall not be processed or
reviewed during a lapse in
appropriations, and the time limits for
Commission action shall be tolled until
the resumption of Commission
operations at the conclusion of a
shutdown. Requests and appeals
submitted under sections 145.7 and
145.9 of the Commission’s regulations,
requests submitted under section
140.99, and filings and payments under
part 165 additionally shall not be
processed until the resumption of
Commission operations.
The time Commission shall process
and commence review of any new
matters under these provisions of the
Commission’s regulations beginning on
the first full business day after the
Commission is able to resume full
operations at the conclusion of a
shutdown. For matters that are pending
under these provisions at the time a
shutdown may commence, all
applicable time deadlines for
Commission action shall be tolled. The
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time remaining for Commission action
will begin to run on the first full
business day after the Commission is
able to resume full operations.
This tolling and extension of time
limits also shall apply to certain
procedural regulations associated with
Commission adjudicatory actions, in
particular the time-limited procedural
regulations in parts 3, 9, 10, 12, and 171.
For matters that are currently pending
before the Commission under any of
these parts, all applicable time
deadlines for Commission action shall
toll, and the time remaining for
Commission action shall begin to run on
the first full business day after the
Commission is able to resume full
operations. Moreover, all time deadlines
for filings by a party in an adjudicative
proceeding that arise during a shutdown
shall be extended until one business day
after the Commission resumes its full
operations. When a filing in an
adjudicatory action is delayed by a
shutdown, the time to reply to any
delayed filing shall commence on the
day the delayed filing is effected under
this order.
2. Procedures and Time Limits Not
Extended or Tolled. In order to fulfill its
obligations to protect property during a
lapse in appropriations, which includes
market surveillance and intermediary
oversight, the Commission shall
continue to process and review filings
required of a registered entity or
intermediary under certain Commission
regulations, and take any action
necessary and appropriate to preserve
property with respect to these filings.
These filings are contained in sections
1.10, 1.12, 1.15, 1.16, 1.17, 1.18, 1.65,
5.6, 5.12, 5.23, 39.19, 40.6(a)(6) and (7),
and 40.10(h) of the Commission’s
regulations, and also apply to any
emergency notification to the
Commission that may be required by
any rule of a registered entity that has
been approved by or self-certified to the
Commission. In addition, the
Commission shall continue to process
and review reports to the extent they are
required by regulations 3.3(e), 23.502(c),
and 23.600(c)(2). Filings under parts 15,
16, 17, 18, 19, 21, and 190 of the
Commission’s regulations also shall
continue to be processed and reviewed.
Review and processing of any notice
of emergency actions designated or
registered entities are required to report
related to situations such as system
malfunctions, cyber-security incidents,
and financial emergencies shall
continue during a shutdown. The
Commission additionally shall receive
and process reports related to the
financial resources of a swap execution
facility, designated contract market,
VerDate Mar<15>2010
14:45 Sep 30, 2013
Jkt 232001
derivatives clearing organization, and
swap data repository pursuant to
regulations 37.1306, 38.1101, 39.11, and
49.25, respectively.
3. Extension of Open Comment
Periods on Proposed Regulation and
Other Matters That May Be Subject to a
Request for Comment by the
Commission. Any comment period for a
proposed rulemaking or other matter
that may be subject to a request for
comment by the Commission that
terminates during a shutdown shall be
extended until one business day after
the Commission resumes full operations
after a shutdown.
4. Resumption of Commission
Operations. The Commission shall
provide notice of the resumption of its
operations at the conclusion of a
shutdown on its Web site at
www.cftc.gov.
Issued in Washington, DC, on September
27, 2013 by the Commission.
Melissa D. Jurgens,
Secretary of the Commission.
[FR Doc. 2013–24084 Filed 9–30–13; 8:45 am]
BILLING CODE 6351–01–P
DEPARTMENT OF DEFENSE
Office of the Secretary
[Docket ID DoD–2013–OS–0200]
Privacy Act of 1974; System of
Records
Office of the Secretary of
Defense, DoD.
ACTION: Notice to add a new System of
Records.
AGENCY:
The Office of the Secretary of
Defense proposes to add a new system
of records in its inventory of record
systems subject to the Privacy Act of
1974, as amended.
DATES: This proposed action will be
effective on November 1, 2013 unless
comments are received which result in
a contrary determination. Comments
will be accepted on or before October
31, 2013.
ADDRESSES: You may submit comments,
identified by docket number and title,
by any of the following methods:
* Federal Rulemaking Portal: https://
www.regulations.gov. Follow the
instructions for submitting comments.
* Mail: Federal Docket Management
System Office, 4800 Mark Center Drive,
East Tower, 2nd Floor, Suite 02G09,
Alexandria, VA 22350–3100.
Instructions: All submissions received
must include the agency name and
docket number for this Federal Register
document. The general policy for
SUMMARY:
PO 00000
Frm 00022
Fmt 4703
Sfmt 4703
comments and other submissions from
members of the public is to make these
submissions available for public
viewing on the Internet at https://
www.regulations.gov as they are
received without change, including any
personal identifiers or contact
information.
Ms.
Cindy Allard, Chief, OSD/JS Privacy
Office, Freedom of Information
Directorate, Washington Headquarters
Service, 1155 Defense Pentagon,
Washington, DC 20301–1155, or by
telephone at (571) 372–0461.
SUPPLEMENTARY INFORMATION: The
Defense Information Systems Agency
notices for systems of records subject to
the Privacy Act of 1974 (5 U.S.C. 552a),
as amended, have been published in the
Federal Register and are available from
the address in FOR FURTHER INFORMATION
CONTACT or from the Defense Privacy
and Civil Liberties Office Web site at
https://dpclo.defense.gov/privacy/
SORNs/component/osd/. The
proposed system report, as required by
5 U.S.C. 552a(r) of the Privacy Act of
1974, as amended, was submitted on
August 22, 2013, to the House
Committee on Oversight and
Government Reform, the Senate
Committee on Governmental Affairs,
and the Office of Management and
Budget (OMB) pursuant to paragraph 4c
of Appendix I to OMB Circular No. A–
130, ‘‘Federal Agency Responsibilities
for Maintaining Records About
Individuals,’’ dated February 8, 1996
(February 20, 1996, 61 FR 6427).
FOR FURTHER INFORMATION CONTACT:
Dated: September 25, 2013.
Aaron Siegel,
Alternate OSD Federal Register Liaison
Officer, Department of Defense.
DPFPA 04
SYSTEM NAME:
Shift Management System.
SYSTEM LOCATION:
Pentagon Force Protection Agency
(PFPA), 9000 Defense Pentagon,
Washington, DC 20301–9000.
Pentagon Force Protection Agency
(PFPA), 4800 Mark Center Drive,
Alexandria, VA 22350.
CATEGORIES OF INDIVIDUALS COVERED BY THE
SYSTEM:
PFPA Police Officers.
CATEGORIES OF RECORDS IN THE SYSTEM:
Employee name, badge number, home
or mobile phone, home city and state,
personal email address, work phone and
email address, official training
certifications, grade, rank, tenure,
security clearance, work schedules and
E:\FR\FM\01OCN1.SGM
01OCN1
]]>Agencies
[Federal Register Volume 78, Number 190 (Tuesday, October 1, 2013)]
[Notices]
[Pages 60260-60264]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-24084]
=======================================================================
-----------------------------------------------------------------------
COMMODITY FUTURES TRADING COMMISSION
Order of the Commodity Futures Trading Commission Relating to the
Continuation, Shutdown, and Resumption of Certain Commission Operations
in the Event of a Lapse in Appropriations
AGENCY: Commodity Futures Trading Commission
ACTION: Notice of order; final order.
-----------------------------------------------------------------------
SUMMARY: This order is being issued to provide for the continuation,
shutdown, and resumption of certain operations of the Commodity Futures
Trading Commission (the ``Commission'') in the event of a lapse in
appropriations, and to alert all persons regulated by or engaged in
proceedings at the Commission of these provisions.
DATES: This notice and order is effective on September 27, 2013.
FOR FURTHER INFORMATION CONTACT: For market oversight matters contact
David Van Wagner, Chief Counsel, Division of Market Oversight (DMO), at
202-418-5481 or dvanwagner@cftc.gov, Matthew Hunter, Deputy Director,
DMO at 202-418-5861 or mhunter@cftc.gov. For clearing matters, contact
Ananda Radhakrishnan, Director, Division of Clearing and Risk (DCR), at
202-418-5188 or aradhakrishnan@cftc.gov; Robert B. Wasserman, Chief
Counsel, DCR, at 202-418-5092 or rwasserman@cftc.gov; or John C.
Lawton, Deputy Director, DCR, at 202-418-5480, or jlawton@cftc.gov. For
matters involving intermediaries, contact Gary Barnett, Director,
Division of Swap Dealer and Intermediary Oversight (DSIO), 202-418-5977
or gbarnett@cftc.gov; Thomas Smith, Deputy Director, DSIO, at 202-418-
5495 or tsmith@cftc.gov; Erik Remmler, Deputy Director, DSIO, at 202-
418-7630 or eremmler@cftc.gov; or Kevin Piccoli, Deputy Director, DSIO,
at 646-746-9834 or kpiccoli@cftc.gov.
SUPPLEMENTARY INFORMATION:
I. Background
As of 12:01 a.m. on October 1, 2013, the funding of many federal
government activities is set to expire. Unless
[[Page 60261]]
appropriations are enacted for Fiscal Year 2014, federal departments
and agencies whose continued operations are dependent upon such
funding--including the Commission--will be required to execute
contingency plans for this lapse in appropriations (commonly referred
to as a ``shutdown''). Under 31 U.S.C. 1341 (the ``Antideficiency
Act''), the Commission is prohibited from expending or obligating any
funds in the absence of appropriations, subject to a narrow set of
exceptions.\1\ The Commission may use one of the exceptions to the
Antideficiency Act set forth in 31 U.S.C. 1342, which permits agencies
to obligate funds before an appropriations measure has been enacted and
to accept voluntary services during a lapse when certain employees are
needed to perform emergency or ``excepted'' functions.\2\
---------------------------------------------------------------------------
\1\ The Antideficiency Act provides that an officer or employee
of the United States may not make or authorize an expenditure or
obligation exceeding an amount in an appropriation or fund for the
expenditure or obligation; involve the government in a contract or
obligation for the payment of money before an appropriation is made
unless authorized by law; make or authorize an expenditure or
obligation of funds required to be sequestered under section 252 of
the Balanced Budget and Emergency Deficit Control Act of 1985; or
involve the government in a contract or obligation for the payment
of money required to be sequestered under section 252 of the
Balanced Budget and Emergency Deficit Control Act of 1985.
\2\ Section 1342 of Title 31 of the U.S. code provides that an
officer or employee of the United States Government may not accept
voluntary services for the government or employ personal services
exceeding that authorized by law except for emergencies involving
the safety of human life or the protection of property. As used in
this section, the term ``emergencies involving the safety of human
life or the protection of property'' does not include ongoing,
regular functions of government the suspension of which would not
imminently threaten the safety of human life or the protection of
property.
---------------------------------------------------------------------------
The Department of Justice's Office of Legal Counsel has determined
that government work performed so that the commodities and futures
markets can continue to operate and so that trading may continue
qualifies as an ``excepted'' function as set forth in 31 U.S.C.
1342.\3\ OLC Memorandum for the Director of the Office of Management
and Budget, Government Operations in the Event of a Lapse in
Appropriations, OLC Opinion, at 2-3 (Aug. 16, 1995). Consequently, in
the event of a lapse in appropriations, the Commission may incur
obligations to allow certain employees who perform ``excepted''
functions to continue to perform those functions. This authority,
however, does not permit the Commission to fund ongoing, regular
functions, the suspension of which would not imminently threaten the
safety of human life or the protection of property during a lapse in
appropriations. Id. at 1 (citing 31 U.S.C. 1342). Thus, the Commission
has designated certain essential personnel to fulfill its obligation to
protect property.
---------------------------------------------------------------------------
\3\ Specifically, the Department of Justice's Office of Legal
Counsel has opined that: ``In the absence of government supervision,
the stock markets, commodities and futures exchanges would be unable
to operate . . . these actions and the others required as part of a
true shut down of the federal government would impose significant
health and safety risks on millions of Americans, some of which
would undoubtedly result in the loss of human life, and they would
immediately result in massive dislocations of and losses to the
private economy, as well as disruptions of many aspects of society
and of private activity generally, producing incalculable amounts of
suffering and loss.'' Id.
---------------------------------------------------------------------------
The Commission's regulations, found in title 17 of the Code of
Federal Regulations, place a number of filing obligations on registered
entities, intermediaries, market participants and the public within
specified time frames, establish Commission authority to stay certain
actions by designated and registered entities, and also include
provisions relating to requests for Commission approval and issuance of
exemption and interpretative relief and guidance with specific time
frames for Commission action. The Commission has reviewed its statute
and regulations in light of its obligation to protect the safety of
human life or the protection of property to determine which Commission
operations will continue during a lapse in appropriations.
A. Tolling and Extension of Certain Procedural Time Limits Applicable
to the Commission
In the event of a lapse in appropriations, the Commission will not
be processing or reviewing filings for Commission discretionary or
mandatory approval or any other actions that are not directly related
to the safety of human life or the protection of property. Matters not
directly related to the protection of property include rule, rule
amendment, and contract certifications filed with the Commission, rule
amendments and contracts voluntarily submitted for Commission approval
or review; requests for contract market designation, swap execution
facility, swap data repository, derivatives clearing organization, and
foreign board of trade registration; and other requests for Commission
approval or other action.
The above-mentioned matters do not include any emergency
notifications that may be required by Commission regulations of
designated or registered entities and intermediaries, or that are
required by any rule of a registered entity that has been approved by
or self-certified to the Commission. This includes emergency rules
certified pursuant to regulation 40.6(a)(6) and (7) and emergency
changes certified by a systemically important derivatives clearing
organization pursuant to regulation 40.10(h).
More specifically, matters not directly related to the protection
of property include filings under judicially reinstated regulations
1.47 and 1.48 (bona fide hedge requests), part 30 (regulation 30.10
petitions for exemption and regulation 30.13 requests for
certification), part 37 (swap execution facilities applications,
demonstrations of compliance with core principles), part 38 (designated
contract market applications, certifications of continued compliance in
situations of merger or sale, and demonstrations of compliance with the
core principles), part 39 (derivatives clearing organization
applications, Commission review of swaps for determinations on clearing
requirement, requests for orders regarding competition, and
demonstrations of compliance with the core principles), part 40 (rule
and contract filings-certifications and approvals and requests for
confidential treatment of submissions, stays of certifications pursuant
to regulation 40.12, determinations related to making swaps available
to trade), part 41 (filing of notice-designated contract markets
trading security futures products), part 48 (foreign board of trade
registrations, adjudication of additional contracts for trading), and
part 49 (swap data repository applications, registration of successor
entities).
Matters not directly related to the protection of property
additionally include requests pursuant to regulations 145.7 and 145.9
(requests for Commission records, petitions for confidential treatment
of information submitted to the Commission, and appeals of FOIA
decisions), regulation 140.99 filings (requests for exemptive, no-
action and interpretive letters), and part 165 (processing of
whistleblower applications and appeals, and payments related to
whistleblower awards).
For the foregoing matters that are currently pending before the
Commission pursuant to any of these provisions, all applicable time
deadlines for Commission action will be tolled until the Commission is
able to resume full operations. For such matters, the time remaining
for Commission action will begin to run on the first business day
following the resumption of Commission operations. For the foregoing
matters arising during a lapse in appropriations, any time limit for
Commission action shall begin to run on
[[Page 60262]]
the first business day following the resumption of Commission
operations.
Matters not directly related to the protection of property also
include certain procedural regulations associated with Commission
adjudicatory actions, in particular certain rules under part 3
(procedure to deny, condition, or suspend, revoke, or place
restrictions on registration), part 9 (related to review of exchange
disciplinary, access denial or other adverse actions), part 10 (the
Commission's rules of practice for adjudicatory proceedings before the
Commission), part 12 (rules related to reparations proceedings), and
part 171 (review of National Futures Association decisions). For these
matters that are currently pending before the Commission pursuant to
any of these provisions, or that arise during a lapse in
appropriations, all applicable time deadlines for Commission action
will be tolled until the Commission is able to resume full operations.
Moreover, all applicable filing deadlines for parties to an
adjudicative proceeding that arise during a lapse in appropriations
will be extended until one business day after the Commission resumes
its operations.
B. Continued Processing, Review, and Action Related to Certain Agency
Regulations
The Commission's regulations also impose filing obligations on
registered entities, intermediaries, market participants and the
public. The Commission has determined that certain filing requirements
relate to the Commission's obligation to protect the safety of human
life or property even during a lapse of appropriations. Accordingly,
such filings will continue to review, process, and take any necessary
or appropriation action taken, during a lapse in appropriations for the
purpose of protecting the safety of human life or the property in
accordance with the Commodity Exchange Act (CEA) and its implementing
regulations..
This category includes regulation 1.10 and 5.12 filings (financial
reports of futures commission merchants (FCMs), introducing brokers
(IBs), and retail foreign exchange dealers), regulation 1.12 and 5.6
filings (notice provisions required of FCMs, IBs, and RFEDs),
regulation 1.15 filings (risk assessment reporting requirements),
regulation 1.16 filings (reports of accountants), regulation 1.17
filings (capital requirements (business days would include those days
the Commission is shut down for purposes of requirements relating to
margin calls and the computation of margin) and any notice provision
requirements),\4\ regulation 1.18 filings (current books and records),
regulation 1.65 and 5.23 filings (notice of bulk transfers (a business
day would include those days the Commission is shutdown)), regulation
39.19 (derivatives clearing organization reporting requirements),
regulation 40.6(a)(6) and (7) (emergency rule certifications), and
regulation 40.10(h) (emergency changes certified by systemically
important derivatives clearing organizations).
---------------------------------------------------------------------------
\4\ Generally, the Commission's regulations define business day
to exclude only Saturday, Sunday, and federal holidays. Thus, a
shutdown would not affect the timely processing, review, and action
that may be necessary and appropriate related to the operation of
these rules.
---------------------------------------------------------------------------
This category also includes part 15 filings (general reporting
requirements), part 16 filings (clearing member reports), part 17
filings (FCM reports), part 18 filings (reports by traders), part 19
filings (bona fide hedge position reports), part 20 filings (large
trader reporting for physical commodity swaps), part 21 filings
(special call provisions), part 190 filings (bankruptcy rules), and
regulation 40.6 filings (emergency rules of a registered entity). In
addition, the Commission shall process, review, and take any necessary
or appropriate action related to, chief compliance officer, swap
valuation dispute, and risk exposure reports, pursuant to regulations
3.3(e), 23.502(c), and 23.600(c), respectively, from swap dealers,
major swap participants, and futures commission merchants, as
applicable.\5\ Swap execution facilities, designated contract markets,
derivatives clearing organizations, and swap data repositories
financial resources reports required by regulations 37.1306, 38.1101,
39.11, and 49.25, respectively, also will continue to be processed,
reviewed, and subject to necessary and appropriate action.
---------------------------------------------------------------------------
\5\ Futures commission merchants are not required to submit swap
valuation dispute or risk exposure reports to the Commission under
regulations 23.502(c) and 23.600(c), respectively.
---------------------------------------------------------------------------
The Commission's regulations require and industry practice provides
for notification to the Commission and its staff of certain emergency
situations. Thus, the Commission will continue to process, review, and
take any necessary or appropriate action related to notifications by
registered entities and intermediaries of emergency situations such as
system malfunctions, cyber security incidents or financial emergencies
throughout a lapse in appropriations.
C. Extension of Open Comment Periods on Proposed Regulation and Other
Matters That May Be Subject to a Request for Comment by the Commission.
Finally, the Commission has proposed a number of rules to implement
the CEA and certain provisions of the Wall Street Reform and Consumer
Protection Act for which the comment period may expire while the
Commission is shutdown. The Commission will be unable to process
comment submissions until it resumes full operations, as such
processing is unrelated to the protection of property. Therefore, the
Commission is extending the comment periods for such rules, and for any
other matters that may be subject to a request for comment by the
Commission, until one business day after the Commission is able to
resume full operations. Notice of the resumption of Commission
operations at the conclusion of a shutdown will be provided on the
Commission's Web site.
II. Administrative Compliance
A. Administrative Procedure Act
To the extent that some of the provisions of this order may be
subject to notice and comment under the Administrative Procedure Act
(APA),\6\ and may be subject to the provisions of the APA that require
publication or service of a substantive rule be made not less than 30
days before its effective date,\7\ the Commission for good cause finds
that notice and comment and a delayed effective date are impracticable
and contrary to the public interest. The Commission may be obligated to
commence orderly shutdown of its operations at the commencement of
business on October 1 and has determined that it is in the interest of
the public and the markets it regulates to have established and
publicized its procedures for limiting its operations to only those
that are essential to the protection of property before that time.
---------------------------------------------------------------------------
\6\ See 5 U.S.C. 553(b).
\7\ See 5 U.S.C. 553(d).
---------------------------------------------------------------------------
Moreover, though the tolling of certain procedural time limits will
delay the Commission's review and approval of certain industry filings,
the review and approval provisions in the Commission's regulations
implement review and approval provisions of the CEA in order to protect
the public interest. It would be contrary to the CEA, and to the public
interest, if these review and approval time limits continued to run
while the Commission is unable to conduct routine business.
[[Page 60263]]
Finally, in order to protect the property interests of the public
related to the orderly operation of the futures markets, the
Commissioners will be supported by essential personnel in the
surveillance of the markets in order to identify any emergency market
situations that may require action to protect the safety of human life
or property during a lapse in appropriations. It therefore is essential
that reporting regulations associated with market surveillance and
emergency notices continue to be processed and reviewed.
B. Paperwork Reduction Act
The Paperwork Reduction Act provides that an agency may not conduct
or sponsor, and a person is not required to respond to, a collection of
information unless it has been approved by the Office of Management and
Budget (OMB) and displays a currently valid control number.\8\ The
collections of information referenced in this notice and order have
valid control numbers that are currently in effect. Therefore, the
Commission is not obligated to seek a control number in connection with
this order.
---------------------------------------------------------------------------
\8\ 44 U.S.C. 3501 et seq.
---------------------------------------------------------------------------
C. Regulatory Flexibility Act
The Regulatory Flexibility Act (RFA) requires the Commission to
consider whether a rule it proposes will have a significant economic
impact on a substantial number of small entities and either provide a
regulatory flexibility analysis respecting the significant impact or
certify that the rule will not have such an impact.\9\ The RFA is
applicable only to a rule for which the Commission publishes a general
notice of proposed rulemaking pursuant to 5 U.S.C. 553(b).\10\
---------------------------------------------------------------------------
\9\ 5 U.S.C. 601 et seq.
\10\ 5 U.S.C. 601(2).
---------------------------------------------------------------------------
The Commission is not publishing this order as a general notice of
proposed rulemaking. Therefore, neither a regulatory flexibility
analysis nor a certification is required for this rulemaking action.
Nonetheless, this order will impose no new regulatory obligations on
any party. Rather, it simply establishes the limited regulatory
framework under which the Commission will operate during a shutdown in
order to ensure the protection of property.
D. Cost Benefit Analysis
Section 15(a) of the CEA \11\ requires the Commission to consider
the costs and benefits of its actions before promulgating a regulation
under the CEA. Section 15(a) specifies that the costs and benefits
shall be considered against five broad areas of market and public
concern: (1) Protection of market participants and the public; (2)
efficiency, competitiveness and financial integrity of futures markets;
(3) price discovery; (4) sound risk management practices; and (5) other
public interest considerations. The Commission may give greater weight
to one or more of the five enumerated considerations to determine, in
its discretion, that a particular rule is necessary or appropriate to
protect the public interest or to effectuate any of the provisions or
accomplish any of the purposes of the CEA.
---------------------------------------------------------------------------
\11\ 7 U.S.C. 19(a).
---------------------------------------------------------------------------
This order imposes the cost of delay on parties with petitions for
approval, self-certification filings, rights of review, and
adjudicative matters before the Commission. As the Commission would be
limited by law during a lapse in appropriations to function only with
respect to the protection of property, these costs are unavoidable.
In terms of benefits, this order provides for the limited
continuation of Commission business. The order also confirms the
ongoing regulatory obligations of registered entities and
intermediaries notwithstanding a shutdown, in order to ensure that the
Commission has available to it all information necessary to identify
emergency situations and take action to protect property and, hence, to
protect market participants and the public, the efficiency and
financial integrity of the futures markets, and price discovery.
The order also notifies market participants and the public of the
matters in which the Commission will be engaged, as well as of the
tolling and extensions of time put in place with respect to filings
under Commission regulations. Tolling ensures that the Commission will
have an opportunity to review routine industry filings once a lapse in
appropriations is resolved and take steps if necessary to protect the
interests of the market and the public before those filings are
finalized. The extensions of time ensure that all persons with filing
obligations in certain adjudicative proceedings that arise during a
shutdown or who wish to submit comments during a comment period that
will close during a shutdown will not be prejudiced by the inability of
the Commission to accept those filings or comments.
III. Order
In light of the foregoing, the Commission has determined to issue
the following Order, pursuant to its authority under the provisions of
the Commodity Exchange Act, 7 U.S.C. 1 et seq., and in compliance with
the Anti-Deficiency Act, 31 U.S.C. 1341 and 1342.
It is hereby ordered that, in the event of a lapse in
appropriations (also referred to as ``shutdown'') commencing at 12:01
a.m. on October 1, 2013, the Commission will commence operating
according to the procedures set forth in this Order, with respect to
its regulations found in title 17 of the Code of Federal Regulations:
1. Tolling and Extension of Certain Procedural Time Limits. The
Commission shall not process any filings, or review any matters for
Commission approval or action to the extent that the matters are not
directly related to the protection of property for the duration of a
shutdown. This applies to rule, rule amendment and contract
certifications, except for emergency rules certified pursuant to
regulation 40.6(a)(6) and (7), and emergency changes certified pursuant
to regulation 40.10(h); rules, rule amendments and contracts
voluntarily submitted for Commission approval or review; requests for
contract market designation, and swap execution facility, swap data
repository, derivatives clearing organization, and foreign board of
trade registration; and other requests for Commission approval or other
action.
Specifically, except as otherwise provided in this order,
applications under judicially reinstated sections 1.47 and 1.48,
sections 30.10 and 30.13, and parts 36, 37, 38, 39, 40 41, 48, and 49
of the Commission's regulations officially shall not be processed or
reviewed during a lapse in appropriations, and the time limits for
Commission action shall be tolled until the resumption of Commission
operations at the conclusion of a shutdown. Requests and appeals
submitted under sections 145.7 and 145.9 of the Commission's
regulations, requests submitted under section 140.99, and filings and
payments under part 165 additionally shall not be processed until the
resumption of Commission operations.
The time Commission shall process and commence review of any new
matters under these provisions of the Commission's regulations
beginning on the first full business day after the Commission is able
to resume full operations at the conclusion of a shutdown. For matters
that are pending under these provisions at the time a shutdown may
commence, all applicable time deadlines for Commission action shall be
tolled. The
[[Page 60264]]
time remaining for Commission action will begin to run on the first
full business day after the Commission is able to resume full
operations.
This tolling and extension of time limits also shall apply to
certain procedural regulations associated with Commission adjudicatory
actions, in particular the time-limited procedural regulations in parts
3, 9, 10, 12, and 171. For matters that are currently pending before
the Commission under any of these parts, all applicable time deadlines
for Commission action shall toll, and the time remaining for Commission
action shall begin to run on the first full business day after the
Commission is able to resume full operations. Moreover, all time
deadlines for filings by a party in an adjudicative proceeding that
arise during a shutdown shall be extended until one business day after
the Commission resumes its full operations. When a filing in an
adjudicatory action is delayed by a shutdown, the time to reply to any
delayed filing shall commence on the day the delayed filing is effected
under this order.
2. Procedures and Time Limits Not Extended or Tolled. In order to
fulfill its obligations to protect property during a lapse in
appropriations, which includes market surveillance and intermediary
oversight, the Commission shall continue to process and review filings
required of a registered entity or intermediary under certain
Commission regulations, and take any action necessary and appropriate
to preserve property with respect to these filings. These filings are
contained in sections 1.10, 1.12, 1.15, 1.16, 1.17, 1.18, 1.65, 5.6,
5.12, 5.23, 39.19, 40.6(a)(6) and (7), and 40.10(h) of the Commission's
regulations, and also apply to any emergency notification to the
Commission that may be required by any rule of a registered entity that
has been approved by or self-certified to the Commission. In addition,
the Commission shall continue to process and review reports to the
extent they are required by regulations 3.3(e), 23.502(c), and
23.600(c)(2). Filings under parts 15, 16, 17, 18, 19, 21, and 190 of
the Commission's regulations also shall continue to be processed and
reviewed.
Review and processing of any notice of emergency actions designated
or registered entities are required to report related to situations
such as system malfunctions, cyber-security incidents, and financial
emergencies shall continue during a shutdown. The Commission
additionally shall receive and process reports related to the financial
resources of a swap execution facility, designated contract market,
derivatives clearing organization, and swap data repository pursuant to
regulations 37.1306, 38.1101, 39.11, and 49.25, respectively.
3. Extension of Open Comment Periods on Proposed Regulation and
Other Matters That May Be Subject to a Request for Comment by the
Commission. Any comment period for a proposed rulemaking or other
matter that may be subject to a request for comment by the Commission
that terminates during a shutdown shall be extended until one business
day after the Commission resumes full operations after a shutdown.
4. Resumption of Commission Operations. The Commission shall
provide notice of the resumption of its operations at the conclusion of
a shutdown on its Web site at www.cftc.gov.
Issued in Washington, DC, on September 27, 2013 by the
Commission.
Melissa D. Jurgens,
Secretary of the Commission.
[FR Doc. 2013-24084 Filed 9-30-13; 8:45 am]
BILLING CODE 6351-01-P
