Air Plan Approval; NH; Approval of Recordkeeping and Reporting Requirements and Single Source Order; Withdrawal of Direct Final Rule, 1302-1303 [2018-00288]
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Federal Register / Vol. 83, No. 8 / Thursday, January 11, 2018 / Rules and Regulations
within the meaning of the Paperwork
Reduction Act of 1995.48
The amendments to reflect the
changes made by the FAST Act as
described in Section II above may shift
the number of advisers between each
class of advisers as well as include
advisers solely to SBICs that take on
additional non-SBIC venture capital
fund or private fund clients and
therefore would become exempt
reporting advisers.
We believe that the current burden
and cost estimates for the existing
collection of information requirements
remain appropriate.49 Thus, we believe
that the amendments should not impose
substantive new burdens on the overall
population of respondents or affect the
current overall burden estimates for the
affected forms.50 Accordingly, we are
not revising any burden and cost
estimates in connection with these
amendments.
VI. Regulatory Flexibility Act
Certification
The Commission certified, pursuant
to section 605(b) of the Regulatory
Flexibility Act of 1980 51 that the
proposed amendments to Advisers Act
rules 203(l)–1 and 203(m)–1, if adopted,
would not have a significant economic
impact on a substantial number of small
entities.52 We included this certification
in Section V of the Proposing Release.
Although we encouraged written
comments regarding this certification,
48 44
U.S.C. 3501 et seq.
most recent Paperwork Reduction Act
analysis for Form ADV is based upon the number
of registered advisers and exempt reporting advisers
as of May 1, 2016. Because approximately five
months had passed between the signing of the
FAST Act and May 1, 2016, we believe that most
of the advisers who wanted to change their
registration status as a result of the FAST Act, did
so in that five month period and are therefore
included in the most recent Paperwork Reduction
Act analysis for Form ADV. Form ADV under the
Investment Advisers Act of 1940 (OMB Control No.
3235–0049).
50 See Section IV above. In the Proposing Release,
we requested comment on whether our belief that
the amendments would not impose substantive new
burdens on the overall population of respondents
or affect the current over all burden estimates for
the affected forms was correct. We did not receive
any responses to our request for comment.
51 5 U.S.C. 603(b).
52 Under Commission rules, for the purposes of
the Advisers Act and the Regulatory Flexibility Act,
an investment adviser generally is a small entity if
it: (i) Has assets under management having a total
value of less than $25 million; (ii) did not have total
assets of $5 million or more on the last day of its
most recent fiscal year; and (iii) does not control,
is not controlled by, and is not under common
control with another investment adviser that has
assets under management of $25 million or more,
or any person (other than a natural person) that had
total assets of $5 million or more on the last day
of its most recent fiscal year. Rule 0–7(a) (17 CFR
275.0–7(a)).
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49 The
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no commenters responded to this
request.
VII. Statutory Authority
The Commission is amending rule
203(l)–1 under the authority set forth in
sections 211(a) and 203(l) of the
Advisers Act, (15 U.S.C. 80b–11(a) and
80b–3(l), respectively). The Commission
is amending rule 203(m)–1 under the
authority set forth in sections 211(a) and
203(m) of the Advisers Act (15 U.S.C.
80b–11(a) and 80b–3(m), respectively).
List of Subjects in 17 CFR Part 275
Reporting and recordkeeping
requirements, Securities.
(15 U.S.C. 80b–3(b)(7)) (other than an
entity that has elected to be regulated or
is regulated as a business development
company pursuant to section 54 of the
Investment Company Act of 1940 (15
U.S.C. 80a–53)) shall be excluded from
the definition of assets under
management for purposes of this
section.
*
*
*
*
*
By the Commission.
Dated: January 5, 2018.
Brent J. Fields,
Secretary.
[FR Doc. 2018–00299 Filed 1–10–18; 8:45 am]
BILLING CODE 8011–01–P
Text of Rule Amendments
For the reasons set forth in the
preamble, the Commission amends title
17, chapter II of the Code of Federal
Regulations as follows.
PART 275—RULES AND
REGULATIONS, INVESTMENT
ADVISERS ACT OF 1940
1. The authority citation for part 275
continues to read, in part, as follows:
■
Authority: 15 U.S.C. 80b–2(a)(11)(G), 80b–
2(a)(11)(H), 80b–2(a)(17), 80b–3, 80b–4, 80b–
4a, 80b–6(4), 80b–6a, and 80b–11, unless
otherwise noted.
*
*
*
*
*
2. Amend § 275.203(l)–1 by revising
the introductory text to paragraph (a) to
read as follows:
■
§ 275.203(l)–1
defined.
Venture capital fund
(a) Venture capital fund defined. For
purposes of section 203(l) of the Act (15.
U.S.C. 80b–3(l)), a venture capital fund
is any entity described in subparagraph
(A), (B), or (C) of section 203(b)(7) of the
Act (15 U.S.C. 80b–3(b)(7)) (other than
an entity that has elected to be regulated
or is regulated as a business
development company pursuant to
section 54 of the Investment Company
Act of 1940 (15 U.S.C. 80a–53)) or any
private fund that:
*
*
*
*
*
■ 3. Amend § 275.203(m)–1 by revising
paragraph (d)(1) to read as follows:
§ 275.203(m)–1
exemption.
Private fund adviser
*
*
*
*
*
(d) * * *
(1) Assets under management means
the regulatory assets under management
as determined under Item 5.F of Form
ADV (§ 279.1 of this chapter) except that
the regulatory assets under management
attributable to a private fund that is an
entity described in subparagraph (A),
(B), or (C) of section 203(b)(7) of the Act
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ENVIRONMENTAL PROTECTION
AGENCY
40 CFR Part 52
[EPA–R01–OAR–2017–0266; FRL–9972–90–
Region 1]
Air Plan Approval; NH; Approval of
Recordkeeping and Reporting
Requirements and Single Source
Order; Withdrawal of Direct Final Rule
Environmental Protection
Agency.
ACTION: Withdrawal of direct final rule.
AGENCY:
Due to the receipt of adverse
comments, the Environmental
Protection Agency (EPA) is withdrawing
the November 14, 2017 direct final rule
approving State Implementation Plan
(SIP) revisions submitted by the State of
New Hampshire. New Hampshire’s SIP
revisions modified existing
recordkeeping and reporting
requirements for sources of air
pollution, and modified an existing
order for Sturm Ruger & Company. This
action is being taken in accordance with
the Clean Air Act.
DATES: The direct final rule published at
82 FR 52664 on November 14, 2017 is
withdrawn effective January 11, 2018.
FOR FURTHER INFORMATION CONTACT: Bob
McConnell, Air Quality Planning Unit,
U.S. Environmental Protection Agency,
New England Regional Office, 5 Post
Office Square, Suite 100 (Mail code
OEP05–2), Boston, MA 02109—3912,
telephone (617) 918–1046, facsimile
(617) 918–0146, email:
mcconnell.robert@epa.gov.
SUPPLEMENTARY INFORMATION: In the
direct final rule, EPA stated that if
adverse comments were submitted by
December 14, 2017, the rule would be
withdrawn and not take effect. EPA
received adverse comments prior to the
close of the comment period and,
SUMMARY:
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Federal Register / Vol. 83, No. 8 / Thursday, January 11, 2018 / Rules and Regulations
therefore, is withdrawing the direct final
rule. EPA will address the comments in
a subsequent final action based upon
the proposed rule also published on
November 14, 2017 (82 FR 52683). EPA
will not institute a second comment
period on this action.
List of Subjects in 40 CFR Part 52
Environmental protection, Air
pollution control, Carbon monoxide,
Incorporation by reference,
Intergovernmental relations, Lead,
Nitrogen dioxide, Ozone, Particulate
matter, Regional haze, Reporting and
recordkeeping requirements, Sulfur
oxides, Volatile organic compounds.
Dated: December 22, 2017.
Kenneth Moraff,
Acting Regional Administrator, EPA New
England.
Accordingly, the amendments to 40
CFR 52.1520 published on November
14, 2017 (82 FR 52664) are withdrawn
effective January 11, 2018.
■
[FR Doc. 2018–00288 Filed 1–10–18; 8:45 am]
BILLING CODE 6560–50–P
GENERAL SERVICES
ADMINISTRATION
41 CFR Part 105–70
[FPMR Case 2018–101–1; Docket No. 2018–
0005; Sequence No. 1]
RIN 3090–AJ92
Program Fraud Civil Remedies Act of
1986, Civil Monetary Penalties Inflation
Adjustment
Office of General Counsel,
General Services Administration.
ACTION: Final rule.
AGENCY:
In accordance with the
Federal Civil Penalties Inflation
Adjustment Act of 1990, as amended by
the Debt Collection Improvement Act of
1996 and further amended by the
Federal Civil Penalties Inflation
Adjustment Act Improvement Act of
2015, this final rule incorporates the
penalty inflation adjustments for the
civil monetary penalties set forth in the
United States Code, as codified in our
regulations.
DATES: Effective: February 12, 2018.
FOR FURTHER INFORMATION CONTACT: Ms.
Jessica Hawkins, Assistant General
Counsel, General Law Division (LG),
General Services Administration, 1800 F
Street NW, Washington DC 20405.
Telephone Number 202–501–1460.
SUPPLEMENTARY INFORMATION:
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SUMMARY:
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I. The Debt Collection Improvement Act
of 1996
To maintain the remedial impact of
civil monetary penalties (CMPs) and to
promote compliance with the law, the
Federal Civil Penalties Inflation
Adjustment Act of 1990 (Pub. L. 101–
410) was amended by the Debt
Collection Improvement Act of 1996
(Pub. L. 104–134) to require Federal
agencies to regularly adjust certain
CMPs for inflation and further amended
by the Federal Civil Penalties Inflation
Adjustment Act Improvement Act of
2015 (Sec. 701 of Pub. L. 114–74). As
amended, the law requires each agency
to make an initial inflationary
adjustment for all applicable CMPs, and
to make further adjustments at least
once every year thereafter for these
penalty amounts. The Debt Collection
Improvement Act of 1996 further
stipulates that any resulting increases in
a CMP due to the calculated inflation
adjustments shall apply only to
violations which occur after the date the
increase takes effect, i.e., thirty (30) days
after date of publication in the Federal
Register. Pursuant to the 2015 Act,
agencies are required to adjust the level
of the CMP with an initial ‘‘catch up‘‘,
and make subsequent annual
adjustments for inflation. Catch up
adjustments are based on the percent
change between the Consumer Price
Index for Urban Consumers (CPI–U) for
the month of October for the year of the
previous adjustment, and the October
2015 CPI–U. Annual inflation
adjustments will be based on the
percent change between the October
CPI–U preceding the date of adjustment
and the prior year’s October CPI–U.
II. The Program Fraud Civil Remedies
Act of 1986
In 1986, sections 6103 and 6104 of the
Omnibus Budget Reconciliation Act of
1986 (Pub. L. 99–501) set forth the
Program Fraud Civil Remedies Act of
1986 (PFCRA). Specifically, this statute
imposes a CMP and an assessment
against any person who, with
knowledge or reason to know, makes,
submits, or presents a false, fictitious, or
fraudulent claim or statement to the
Government. The General Services
Administration’s regulations, published
in the Federal Register (61 FR 246,
December 20, 1996) and codified at 41
CFR part 105–70, set forth a CMP of up
to $10,781 for each false claim or
statement made to the agency. Based on
the penalty amount inflation factor
calculation, derived from originally
dividing the June 2015 CPI by the June
1996 CPI and making the CPI-based
annual adjustment thereafter, after
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1303
rounding we are adjusting the maximum
penalty amount for this CMP to $11,001
per violation.
III. Waiver of Proposed Rulemaking
In developing this final rule, we are
waiving the usual notice of proposed
rulemaking and public comment
procedures set forth in the
Administrative Procedure Act, 5 U.S.C.
553 (APA). The APA provides an
exception to the notice and comment
procedures when an agency finds there
is good cause for dispensing with such
procedures on the basis that they are
impracticable, unnecessary or contrary
to the public interest. We have
determined that under 5 U.S.C.
553(b)(3)(B) good cause exists for
dispensing with the notice of proposed
rulemaking and public comment
procedures for this rule. Specifically,
this rulemaking comports and is
consistent with the statutory authority
set forth in the Debt Collection
Improvement Act of 1996, with no
issues of policy discretion. Accordingly,
we believe that opportunity for prior
comment is unnecessary and contrary to
the public interest, and we are issuing
these revised regulations as a final rule
that will apply to all future cases under
this authority.
IV. Executive Orders 12866 and 13563
Executive Orders (E.O.s) 12866 and
13563 direct agencies to assess all costs
and benefits of available regulatory
alternatives and, if regulation is
necessary, to select regulatory
approaches that maximize net benefits
(including potential economic,
environmental, public health and safety
effects, distributive impacts, and
equity). E.O. 13563 emphasizes the
importance of quantifying both costs
and benefits, of reducing costs, of
harmonizing rules, and of promoting
flexibility. This is a not significant
regulatory action and, therefore, was not
subject to review under Section 6(b) of
E.O. 12866, Regulatory Planning and
Review, dated September 30, 1993. This
rule is not a major rule under 5 U.S.C.
804.
The Office of Management and Budget
(OMB) has reviewed this final rule in
accordance with the provisions of E.O.
12866 and has determined that it does
not meet the criteria for a significant
regulatory action. As indicated above,
the provisions contained in this final
rulemaking set forth the inflation
adjustments in compliance with the
Debt Collection Improvement Act of
1996 for specific applicable CMPs. The
great majority of individuals,
organizations and entities addressed
through these regulations do not engage
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Agencies
[Federal Register Volume 83, Number 8 (Thursday, January 11, 2018)]
[Rules and Regulations]
[Pages 1302-1303]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-00288]
=======================================================================
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ENVIRONMENTAL PROTECTION AGENCY
40 CFR Part 52
[EPA-R01-OAR-2017-0266; FRL-9972-90-Region 1]
Air Plan Approval; NH; Approval of Recordkeeping and Reporting
Requirements and Single Source Order; Withdrawal of Direct Final Rule
AGENCY: Environmental Protection Agency.
ACTION: Withdrawal of direct final rule.
-----------------------------------------------------------------------
SUMMARY: Due to the receipt of adverse comments, the Environmental
Protection Agency (EPA) is withdrawing the November 14, 2017 direct
final rule approving State Implementation Plan (SIP) revisions
submitted by the State of New Hampshire. New Hampshire's SIP revisions
modified existing recordkeeping and reporting requirements for sources
of air pollution, and modified an existing order for Sturm Ruger &
Company. This action is being taken in accordance with the Clean Air
Act.
DATES: The direct final rule published at 82 FR 52664 on November 14,
2017 is withdrawn effective January 11, 2018.
FOR FURTHER INFORMATION CONTACT: Bob McConnell, Air Quality Planning
Unit, U.S. Environmental Protection Agency, New England Regional
Office, 5 Post Office Square, Suite 100 (Mail code OEP05-2), Boston, MA
02109--3912, telephone (617) 918-1046, facsimile (617) 918-0146, email:
[email protected].
SUPPLEMENTARY INFORMATION: In the direct final rule, EPA stated that if
adverse comments were submitted by December 14, 2017, the rule would be
withdrawn and not take effect. EPA received adverse comments prior to
the close of the comment period and,
[[Page 1303]]
therefore, is withdrawing the direct final rule. EPA will address the
comments in a subsequent final action based upon the proposed rule also
published on November 14, 2017 (82 FR 52683). EPA will not institute a
second comment period on this action.
List of Subjects in 40 CFR Part 52
Environmental protection, Air pollution control, Carbon monoxide,
Incorporation by reference, Intergovernmental relations, Lead, Nitrogen
dioxide, Ozone, Particulate matter, Regional haze, Reporting and
recordkeeping requirements, Sulfur oxides, Volatile organic compounds.
Dated: December 22, 2017.
Kenneth Moraff,
Acting Regional Administrator, EPA New England.
0
Accordingly, the amendments to 40 CFR 52.1520 published on November 14,
2017 (82 FR 52664) are withdrawn effective January 11, 2018.
[FR Doc. 2018-00288 Filed 1-10-18; 8:45 am]
BILLING CODE 6560-50-P