Treatment of Certain Transfers of Property to Foreign Corporations; Correction, 68288-68289 [2015-28013]

Download as PDF 68288 Federal Register / Vol. 80, No. 213 / Wednesday, November 4, 2015 / Proposed Rules file the supplemental report.11 The proposed SIPC rules incorporate this relief by providing that a SIPC member broker-dealer is exempt from filing the supplemental report if the broker-dealer reports $500,000 or less in total revenue in its ‘‘annual audited statement of income’’ filed with the Commission. The proposed rules also provide that the independent public accountant must be independent in accordance with the provisions of 17 CFR 240.2–01 and that the accountant must be engaged to perform the enumerated agreed-upon procedures in accordance with standards of the Public Company Accounting Oversight Board. Finally, under paragraph (e) of Rule 17a–5, a broker-dealer’s annual reports must be prepared and filed in accordance with certain enumerated requirements. Paragraph (e)(4) of Rule 17a–5 requires the broker-dealer to file the supplemental report, and paragraph (e)(5) of Rule 17a–5 requires that a broker-dealer’s annual reports be filed not more than 60 calendar days after the fiscal year end of the broker-dealer. Accordingly, the proposed rules provide that a broker-dealer must file the supplemental report within 60 days after the end of its fiscal year. In other respects, the proposed rules largely mirror the text of paragraphs (e)(4)(ii)(A), (B), and (C) of Rule 17a–5. II. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within thirty-five days of the date of publication of this notice in the Federal Register, or within such longer period (i) as the Commission may designate of not more than ninety days after such date if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which SIPC consents, the Commission shall: (A) By order approve such proposed rule change or (B) Institute proceedings to determine whether such proposed rule change should be disapproved. To allow public access to SIPC’s rules, SIPC rules that are approved by the Commission are published under Part 300 of 17 CFR Chapter II. rmajette on DSK7SPTVN1PROD with PROPOSALS III. Statutory Authority Pursuant to SIPA, 15 U.S.C. 78aaa et seq., and particularly, section 3(e) (15 U.S.C. 78ccc(e), SIPC proposes to adopt 300.600 of Title 17 of the Code of Federal Regulations. 11 See Letter dated January 9, 1989 from Michael A. Macchiaroli, SEC, to Theodore H. Focht, President and General Counsel, SIPC (SEC NoAction Letter 1989 WL 245631). VerDate Sep<11>2014 13:42 Nov 03, 2015 Jkt 238001 List of Subjects in 17 CFR Part 300 Brokers, Securities. Text of the Amendments In accordance with the foregoing, Title 17, Chapter II of the Code of Federal Regulations is proposed to be amended as follows: PART 300—RULES OF THE SECURITIES INVESTOR PROTECTION CORPORATION 1. The authority citation for part 300 continues to read as follows: ■ Authority: 15 U.S.C. 78ccc. 2. An undesignated center heading and § 300.600 are added to read as follows: ■ Rules Relating to Supplemental Report on SIPC Membership § 300.600 Rules relating to supplemental report on SIPC membership. (a)(i) Who must file the supplemental report. Except as provided in paragraph (a)(ii) of this section, a broker or dealer must file with SIPC, within 60 days after the end of its fiscal year, a supplemental report on the status of its membership in SIPC (commonly referred to as the ‘‘Independent Accountants’ Report on Applying Agreed-Upon Procedures’’) if a rule of the Securities and Exchange Commission (SEC) requires the broker or dealer to file audited financial statements annually. (ii) If the broker or dealer is a member of SIPC, the broker or dealer is not required to file the supplemental report for any year in which it reports $500,000 or less in total revenues in its annual audited statement of income filed with the SEC. (b) Requirements of the supplemental report. The supplemental report must cover the SIPC Annual General Assessment Reconciliation Form (Form SIPC–7) or the Certification of Exclusion From Membership Form (Form SIPC–3) for each year for which an SEC Rule requires audited financial statements to be filed. The supplemental report must include the following: (i) A copy of the form filed or a schedule of assessment payments showing any overpayments applied and overpayments carried forward, including payment dates, amounts, and name of SIPC collection agent to whom mailed; or (ii) If exclusion from membership was claimed, a statement that the broker or dealer qualified for exclusion from membership under the Securities Investor Protection Act of 1970, as amended, and the date the Form SIPC– 3 was filed with SIPC; and PO 00000 Frm 00021 Fmt 4702 Sfmt 4702 (iii) An independent public accountant’s report. The independent public accountant, who must be independent in accordance with the provisions of 17 CFR 240.210.2–01, must be engaged to perform the following agreed-upon procedures in accordance with standards of the Public Company Accounting Oversight Board (PCAOB): (A) Compare assessment payments made in accordance with the General Assessment Payment Form (Form SIPC– 6) and applied to the General Assessment calculation on the Form SIPC–7 with respective cash disbursements record entries; (B) For all or any portion of a fiscal year, compare amounts reflected in the audited financial statements required by SEC Rule with amounts reported in the Form SIPC–7; (C) Compare adjustments reported in the Form SIPC–7 with supporting schedules and working papers supporting the adjustments; (D) Verify the arithmetical accuracy of the calculations reflected in the Form SIPC–7 and in the schedules and working papers supporting any adjustments; and (E) Compare the amount of any overpayment applied with the Form SIPC–7 on which it was computed; or (F) If exclusion from membership is claimed, compare the income or loss reported in the audited financial statements required by SEC Rule with the Form SIPC–3. * * * * * For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.12 Dated: October 28, 2015. Robert W. Errett, Deputy Secretary. [FR Doc. 2015–27921 Filed 11–3–15; 8:45 am] BILLING CODE 8011–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 [REG–139483–13] RIN 1545–BL87 Treatment of Certain Transfers of Property to Foreign Corporations; Correction Internal Revenue Service (IRS), Treasury. AGENCY: 12 17 E:\FR\FM\04NOP1.SGM CFR 200.30–3(f)(3). 04NOP1 Federal Register / Vol. 80, No. 213 / Wednesday, November 4, 2015 / Proposed Rules ‘‘related’’ is corrected to read ‘‘paragraph (a)(3) the term ‘‘related’’. Correction to a notice of proposed rulemaking. ACTION: This document contains corrections to a notice of proposed rulemaking (REG–139483–13) that was published in the Federal Register on Wednesday, September 16, 2015 (80 FR 55568). The proposed regulations are relating to certain transfers of property by United States persons to foreign corporations. SUMMARY: Written or electronic comments and requests for a public hearing for the notice of proposed rulemaking published at 80 FR 55568, September 16, 2015 are still being accepted and must be received by December 15, 2015. DATES: FOR FURTHER INFORMATION CONTACT: Ryan A. Bowmen at (202) 317–6937 (not a toll free number). SUPPLEMENTARY INFORMATION: Background The notice of proposed rulemaking (REG–139483–13) that is the subject of these corrections is under section 367 of the Internal Revenue Code. Need for Correction As published, the notice of proposed rulemaking (REG–139483–13) contains errors that may prove to be misleading and are in need of clarification. rmajette on DSK7SPTVN1PROD with PROPOSALS Correction of Publication Accordingly, the notice of proposed rulemaking (REG–139483–13), that was the subject of FR Doc. 2015–23279, is corrected as follows: 1. On page 55571, in the preamble, third column, fourth line from the top of the column, the language ‘‘intangible property. The proposed’’ is corrected to read ‘‘intangible property. The specific provisions of the temporary regulations that will be replaced by the proposed regulations will be removed upon finalization. The proposed’’. 2. On page 55571, in the preamble, third column, sixth line from the bottom of the column, the language ‘‘under proposed § 1.367(a)–2. The’’ is corrected to read ‘‘under proposed § 1.367(a)–2. Accordingly, upon finalization of the proposed regulations, current §§ 1.367(a)–2T, 4T, and 5T will be removed. The’’. § 1.367(a)–4 [Corrected] 3. On Page 55580, first column, the twenty-sixth line of paragraph (a)(1)(ii), the language ‘‘paragraph (b)(3) the term VerDate Sep<11>2014 13:42 Nov 03, 2015 Jkt 238001 Martin V. Franks, Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel, (Procedure and Administration). [FR Doc. 2015–28013 Filed 11–3–15; 8:45 am] BILLING CODE 4830–01–P 68289 Office of Pesticide Programs, Environmental Protection Agency, 1200 Pennsylvania Ave. NW., Washington, DC 20460–0001. As part of the mailing address, include the contact person’s name, division, and mail code. The division to contact is listed at the end of each pesticide petition summary. SUPPLEMENTARY INFORMATION: I. General Information ENVIRONMENTAL PROTECTION AGENCY 40 CFR Part 180 [EPA–HQ–OPP–2015–0032; FRL–9936–13] Receipt of Several Pesticide Petitions Filed for Residues of Pesticide Chemicals in or on Various Commodities Environmental Protection Agency (EPA). ACTION: Notice of filing of petitions and request for comment. AGENCY: This document announces the Agency’s receipt of several initial filings of pesticide petitions requesting the establishment or modification of regulations for residues of pesticide chemicals in or on various commodities. DATES: Comments must be received on or before December 4, 2015. ADDRESSES: Submit your comments, identified by docket identification (ID) number and the pesticide petition number (PP) of interest as shown in the body of this document, by one of the following methods: • Federal eRulemaking Portal: http:// www.regulations.gov. Follow the online instructions for submitting comments. Do not submit electronically any information you consider to be Confidential Business Information (CBI) or other information whose disclosure is restricted by statute. • Mail: OPP Docket, Environmental Protection Agency Docket Center (EPA/ DC), (28221T), 1200 Pennsylvania Ave. NW., Washington, DC 20460–0001. • Hand Delivery: To make special arrangements for hand delivery or delivery of boxed information, please follow the instructions at http:// www.epa.gov/dockets/contacts.html. Additional instructions on commenting or visiting the docket, along with more information about dockets generally, is available at http:// www.epa.gov/dockets. FOR FURTHER INFORMATION CONTACT: Susan Lewis, Registration Division (RD) (7505P), main telephone number: (703) 305–7090; email address: RDFRNotices@epa.gov. The mailing address for each contact person is: SUMMARY: PO 00000 Frm 00022 Fmt 4702 Sfmt 4702 A. Does this action apply to me? You may be potentially affected by this action if you are an agricultural producer, food manufacturer, or pesticide manufacturer. The following list of North American Industrial Classification System (NAICS) codes is not intended to be exhaustive, but rather provides a guide to help readers determine whether this document applies to them. Potentially affected entities may include: • Crop production (NAICS code 111). • Animal production (NAICS code 112). • Food manufacturing (NAICS code 311). • Pesticide manufacturing (NAICS code 32532). If you have any questions regarding the applicability of this action to a particular entity, consult the person listed under FOR FURTHER INFORMATION CONTACT for the division listed at the end of the pesticide petition summary of interest. B. What should I consider as i prepare my comments for EPA? 1. Submitting CBI. Do not submit this information to EPA through regulations.gov or email. Clearly mark the part or all of the information that you claim to be CBI. For CBI information in a disk or CD–ROM that you mail to EPA, mark the outside of the disk or CD–ROM as CBI and then identify electronically within the disk or CD–ROM the specific information that is claimed as CBI. In addition to one complete version of the comment that includes information claimed as CBI, a copy of the comment that does not contain the information claimed as CBI must be submitted for inclusion in the public docket. Information so marked will not be disclosed except in accordance with procedures set forth in 40 CFR part 2. 2. Tips for preparing your comments. When preparing and submitting your comments, see the commenting tips at http://www.epa.gov/dockets/ comments.html. 3. Environmental justice. EPA seeks to achieve environmental justice, the fair treatment and meaningful involvement E:\FR\FM\04NOP1.SGM 04NOP1

Agencies

[Federal Register Volume 80, Number 213 (Wednesday, November 4, 2015)]
[Proposed Rules]
[Pages 68288-68289]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-28013]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-139483-13]
RIN 1545-BL87


Treatment of Certain Transfers of Property to Foreign 
Corporations; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

[[Page 68289]]


ACTION: Correction to a notice of proposed rulemaking.

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SUMMARY: This document contains corrections to a notice of proposed 
rulemaking (REG-139483-13) that was published in the Federal Register 
on Wednesday, September 16, 2015 (80 FR 55568). The proposed 
regulations are relating to certain transfers of property by United 
States persons to foreign corporations.

DATES: Written or electronic comments and requests for a public hearing 
for the notice of proposed rulemaking published at 80 FR 55568, 
September 16, 2015 are still being accepted and must be received by 
December 15, 2015.

FOR FURTHER INFORMATION CONTACT: Ryan A. Bowmen at (202) 317-6937 (not 
a toll free number).

SUPPLEMENTARY INFORMATION: 

Background

    The notice of proposed rulemaking (REG-139483-13) that is the 
subject of these corrections is under section 367 of the Internal 
Revenue Code.

Need for Correction

    As published, the notice of proposed rulemaking (REG-139483-13) 
contains errors that may prove to be misleading and are in need of 
clarification.

Correction of Publication

    Accordingly, the notice of proposed rulemaking (REG-139483-13), 
that was the subject of FR Doc. 2015-23279, is corrected as follows:
    1. On page 55571, in the preamble, third column, fourth line from 
the top of the column, the language ``intangible property. The 
proposed'' is corrected to read ``intangible property. The specific 
provisions of the temporary regulations that will be replaced by the 
proposed regulations will be removed upon finalization. The proposed''.
    2. On page 55571, in the preamble, third column, sixth line from 
the bottom of the column, the language ``under proposed Sec.  1.367(a)-
2. The'' is corrected to read ``under proposed Sec.  1.367(a)-2. 
Accordingly, upon finalization of the proposed regulations, current 
Sec. Sec.  1.367(a)-2T, 4T, and 5T will be removed. The''.


Sec.  1.367(a)-4  [Corrected]

    3. On Page 55580, first column, the twenty-sixth line of paragraph 
(a)(1)(ii), the language ``paragraph (b)(3) the term ``related'' is 
corrected to read ``paragraph (a)(3) the term ``related''.

Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel, (Procedure and Administration).
[FR Doc. 2015-28013 Filed 11-3-15; 8:45 am]
 BILLING CODE 4830-01-P