Accelerated Filer and Large Accelerated Filer Definitions; Correction, 19884 [2020-06926]
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19884
Federal Register / Vol. 85, No. 69 / Thursday, April 9, 2020 / Rules and Regulations
Accordingly, I concur in adopting the final
rule.
DEPARTMENT OF THE TREASURY
[FR Doc. 2020–06625 Filed 4–8–20; 8:45 am]
Office of Foreign Assets Control
BILLING CODE 6351–01–P
31 CFR Parts 501, 510, 535, 536, 539,
541, 542, 544, 546, 547, 548, 549, 560,
561, 566, 576, 583, 584, 588, 592, 594,
597, and 598
SECURITIES AND EXCHANGE
COMMISSION
Inflation Adjustment of Civil Monetary
Penalties
17 CFR Parts 229, 230, 240, and 249
Office of Foreign Assets
Control, Treasury.
ACTION: Final rule.
AGENCY:
[Release No. 34–88365A; File No. S7–06–
19]
RIN 3235–AM41
Accelerated Filer and Large
Accelerated Filer Definitions;
Correction
Securities and Exchange
Commission.
ACTION: Final rule; correction.
AGENCY:
The Securities and Exchange
Commission published a document in
the Federal Register of March 26, 2020
(85 FR 17178) adopting amendments to
the accelerated filer and large
accelerated filer definitions. There was
a typographical error in an example
provided in the Supplementary
Information section of that document.
DATES: Effective April 9, 2020.
FOR FURTHER INFORMATION CONTACT: John
Fieldsend, Special Counsel, in the
Division of Corporation Finance, at
(202) 551–3430, U.S. Securities and
Exchange Commission, 100 F Street NE,
Washington, DC 20549–3628.
SUPPLEMENTARY INFORMATION:
In FR Doc. 2020–05546, on page
17193 in the Federal Register of
Thursday, March 26, 2020, the
following corrections are made:
SUMMARY:
Corrections
In the first column on page 17193, in
the eighth line from the bottom of the
second paragraph, the date ‘‘2020’’ is
corrected to read ‘‘2021’’. Also, in the
first column on page 17193, in the sixth
line from the bottom of the second
paragraph, the date ‘‘2019’’ is corrected
to read ‘‘2020’’.
Dated: March 30, 2020.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2020–06926 Filed 4–8–20; 8:45 am]
khammond on DSKJM1Z7X2PROD with RULES
The Department of the
Treasury’s Office of Foreign Assets
Control (OFAC) is issuing this final rule
to adjust certain civil monetary
penalties for inflation pursuant to the
Federal Civil Penalties Inflation
Adjustment Act of 1990, as amended by
the Debt Collection Improvement Act of
1996 and the Federal Civil Penalties
Inflation Adjustment Act Improvements
Act of 2015.
DATES: This rule is effective April 9,
2020.
FOR FURTHER INFORMATION CONTACT:
OFAC: Assistant Director for Licensing,
202–622–2480; Assistant Director for
Regulatory Affairs, 202–622–4855;
Assistant Director for Sanctions
Compliance & Evaluation, 202–622–
2490.
SUPPLEMENTARY INFORMATION:
SUMMARY:
BILLING CODE 8011–01–P
Electronic Availability
This document and additional
information concerning OFAC are
available from OFAC’s website
(www.treasury.gov/ofac).
Background
Section 4 of the Federal Civil
Penalties Inflation Adjustment Act
(1990 Pub. L. 101–410, 104 Stat. 890; 28
U.S.C. 2461 note), as amended by the
Debt Collection Improvement Act of
1996 (Pub. L. 104–134, 110 Stat. 1321–
373) and the Federal Civil Penalties
Inflation Adjustment Act Improvements
Act of 2015 (Pub. L. 114–74, 129 Stat.
599, 28 U.S.C. 2461 note) (collectively,
the FCPIA Act), requires each federal
agency with statutory authority to assess
civil monetary penalties (CMPs) to
adjust CMPs annually for inflation
according to a formula described in
section 5 of the FCPIA Act. One purpose
of the FCPIA Act is to ensure that CMPs
continue to maintain their deterrent
effect through periodic cost-of-living
based adjustments.
OFAC has adjusted its CMPs four
times since the Federal Civil Penalties
Inflation Adjustment Act Improvements
Act went into effect on November 2,
2015: An initial catch-up adjustment on
August 1, 2016 (81 FR 43070, July 1,
2016), and annual adjustments on
February 10, 2017 (82 FR 10434,
February 10, 2017), March 19, 2018 (83
FR 11876, March 19, 2018), and June 14,
2019 (84 FR 27714, June 14, 2019).
Method of Calculation
The method of calculating CMP
adjustments applied in this final rule is
required by the FCPIA Act. Under the
FCPIA Act and the Office of
Management and Budget guidance
required by the FCPIA Act, annual
inflation adjustments subsequent to the
initial catch-up adjustment are to be
based on the percent change between
the Consumer Price Index for all Urban
Consumers (‘‘CPI–U’’) for the October
preceding the date of the adjustment
and the prior year’s October CPI–U. As
set forth in Office of Management and
Budget Memorandum M–20–05 of
December 16, 2019, the adjustment
multiplier for 2020 is 1.01764. In order
to complete the 2020 annual
adjustment, each current CMP is
multiplied by the 2020 adjustment
multiplier. Under the FCPIA Act, any
increase in CMP must be rounded to the
nearest multiple of $1.
New Penalty Amounts
OFAC imposes CMPs pursuant to the
penalty authority in five statutes: the
Trading With the Enemy Act (50 U.S.C.
4301–4341, at 4315) (TWEA); the
International Emergency Economic
Powers Act (50 U.S.C. 1701–1706, at
1705) (IEEPA); the Antiterrorism and
Effective Death Penalty Act of 1996
(Pub. L. 104–132, 110 Stat. 1212–1319,
at 1250; 18 U.S.C. 2339B) (AEDPA); the
Foreign Narcotics Kingpin Designation
Act (Pub. L. 106–120, 113 Stat. 1626–
1636, at 1632; 21 U.S.C. 1901–1908, at
1906) (FNKDA); and the Clean Diamond
Trade Act (Pub. L. 108–19, 117 Stat.
631–637, at 634; 19 U.S.C. 3901–3913,
at 3907) (CDTA).
The table below summarizes the
existing and new maximum CMP
amounts.
Existing maximum
CMP amount
Statute
TWEA .......................................................................................................................................................
IEEPA ......................................................................................................................................................
AEDPA .....................................................................................................................................................
VerDate Sep<11>2014
17:30 Apr 08, 2020
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$89,170
302,584
79,874
09APR1
Maximum CMP
amount effective
April 9, 2020
$90,743
307,922
81,283
]]>Agencies
[Federal Register Volume 85, Number 69 (Thursday, April 9, 2020)]
[Rules and Regulations]
[Page 19884]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-06926]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
17 CFR Parts 229, 230, 240, and 249
[Release No. 34-88365A; File No. S7-06-19]
RIN 3235-AM41
Accelerated Filer and Large Accelerated Filer Definitions;
Correction
AGENCY: Securities and Exchange Commission.
ACTION: Final rule; correction.
-----------------------------------------------------------------------
SUMMARY: The Securities and Exchange Commission published a document in
the Federal Register of March 26, 2020 (85 FR 17178) adopting
amendments to the accelerated filer and large accelerated filer
definitions. There was a typographical error in an example provided in
the Supplementary Information section of that document.
DATES: Effective April 9, 2020.
FOR FURTHER INFORMATION CONTACT: John Fieldsend, Special Counsel, in
the Division of Corporation Finance, at (202) 551-3430, U.S. Securities
and Exchange Commission, 100 F Street NE, Washington, DC 20549-3628.
SUPPLEMENTARY INFORMATION:
In FR Doc. 2020-05546, on page 17193 in the Federal Register of
Thursday, March 26, 2020, the following corrections are made:
Corrections
In the first column on page 17193, in the eighth line from the
bottom of the second paragraph, the date ``2020'' is corrected to read
``2021''. Also, in the first column on page 17193, in the sixth line
from the bottom of the second paragraph, the date ``2019'' is corrected
to read ``2020''.
Dated: March 30, 2020.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2020-06926 Filed 4-8-20; 8:45 am]
BILLING CODE 8011-01-P
