Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships With, Hedge Funds and Private Equity Funds; Correction, 60355-60356 [2020-21100]

Download as PDF 60355 Rules and Regulations Federal Register Vol. 85, No. 187 Friday, September 25, 2020 This section of the FEDERAL REGISTER contains regulatory documents having general applicability and legal effect, most of which are keyed to and codified in the Code of Federal Regulations, which is published under 50 titles pursuant to 44 U.S.C. 1510. The Code of Federal Regulations is sold by the Superintendent of Documents. DEPARTMENT OF TREASURY Office of the Comptroller of the Currency 12 CFR Part 44 [Docket No. OCC–2020–0002] RIN 1557–AE67 FEDERAL RESERVE SYSTEM 12 CFR Part 248 [Docket No. R–1694] RIN 7100–AF70 FEDERAL DEPOSIT INSURANCE CORPORATION 12 CFR Part 351 RIN 3064–AF17 COMMODITY FUTURES TRADING COMMISSION 17 CFR Part 75 RIN 3038–AE93 SECURITIES AND EXCHANGE COMMISSION 17 CFR Part 255 [Release no. BHCA–9A; File no. S7–02–20] RIN 3235–AM70 Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships With, Hedge Funds and Private Equity Funds; Correction Office of the Comptroller of the Currency, Treasury (OCC); Board of Governors of the Federal Reserve System (Board); Federal Deposit Insurance Corporation (FDIC); Securities and Exchange Commission (SEC); and Commodity Futures Trading Commission (CFTC). ACTION: Notification of correction. khammond on DSKJM1Z7X2PROD with RULES AGENCY: VerDate Sep<11>2014 16:28 Sep 24, 2020 Jkt 250001 The OCC, Board, FDIC, SEC, and CFTC (together, the agencies) are issuing this correction to make technical corrections to the Federal Register rule adopting amendments to the regulations implementing section 13 of the Bank Holding Company Act published on July 31, 2020. DATES: Effective October 1, 2020. FOR FURTHER INFORMATION CONTACT: OCC: Tabitha Edgens, Counsel; Mark O’Horo, Senior Attorney, Chief Counsel’s Office, (202) 649–5490; for persons who are deaf or hearing impaired, TTY, (202) 649–5597, Office of the Comptroller of the Currency, 400 7th Street SW, Washington, DC 20219. Board: Sarah Podrygula, Attorney, (202) 912–4658, or Kirin Walsh, Attorney, (202) 452–3058, Legal Division, Board of Governors of the Federal Reserve System, 20th and C Streets NW, Washington, DC 20551. For users of Telecommunication Device for the Deaf (TDD), (202) 263–4869. FDIC: Michael B. Phillips, Counsel, (202) 898–3581, or Annmarie H. Boyd, Counsel, (202) 898–3714, Legal Division, Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, DC 20429. CFTC: Cantrell Dumas, Special Counsel, (202) 418–5043, cdumas@ cftc.gov, Division of Swap Dealer and Intermediary Oversight; Mark Fajfar, Assistant General Counsel, (202) 418– 6636, mfajfar@cftc.gov, Office of the General Counsel; Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581. SEC: William Miller, Senior Counsel, or Jennifer Songer, Branch Chief at (202) 551–6787 or IArules@sec.gov, Investment Adviser Regulation Office, Division of Investment Management, U.S. Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549. You may also contact any of the individuals for these agencies named in the final rule published on July 31, 2020, at 85 FR 46422. SUPPLEMENTARY INFORMATION: The agencies are issuing this correction to make technical corrections to the final rule adopting amendments to the regulations implementing section 13 of the Bank Holding Company Act published on July 31, 2020 (the 2020 SUMMARY: PO 00000 Frm 00001 Fmt 4700 Sfmt 4700 amendments).1 Two of the amendatory instructions of the 2020 amendments did not accurately reflect changes to the agencies’ rules as described in the Supplementary Information section of the 2020 amendments. This correction corrects the agencies’ Federal Register notice consistent with the Supplementary Information section of the 2020 amendments. Specifically, this correction corrects an instruction stating that the agencies were revising paragraph (d)(1) of section __.20 of the 2020 amendments when the agencies intended to revise the introductory text to paragraph (d)(1). This correction also corrects instructions concerning 17 CFR 255.10(c)(11) and 75.10(c)(11) to retain the introductory text for those paragraphs. The agencies note that the effective date for the 2020 amendments is unchanged and continues to be October 1, 2020. Correction In the Federal Register of July 31, 2020, FR Rule Doc. 2020–15525, beginning on page 46422, is corrected as follows: Title 12 § 44.20 [Corrected] 1. On page 46502, in the third column, in 12 CFR 44.20, in amendment 7b., add the words ‘‘introductory text’’ after the words ‘‘paragraph (d)(1)’’. ■ § 248.20 [Corrected] 2. On page 46509, in the second column, in 12 CFR 248.20, in amendment 14b., add the words ‘‘introductory text’’ after the words ‘‘paragraph (d)(1)’’. ■ § 351.20 [Corrected] 3. On page 46516, in the first column, in 12 CFR 351.20, in amendment 21b., add the words ‘‘introductory text’’ after the words ‘‘paragraph (d)(1)’’. ■ Title 17 § 75.10 [Corrected] 4. On page 46517, third column, in 17 CFR 75.10, remove ‘‘(11) * * *’’ and add in its place ‘‘(11) SBICs and public welfare investment funds. An issuer:’’ ■ § 75.20 [Corrected] 5. On page 46522, in the second column, in 17 CFR 75.20, in amendment ■ 1 85 E:\FR\FM\25SER1.SGM FR 46422 (July 31, 2020). 25SER1 60356 Federal Register / Vol. 85, No. 187 / Friday, September 25, 2020 / Rules and Regulations 28b., add the words ‘‘introductory text’’ after the words ‘‘paragraph (d)(1)’’. § 255.10 [Corrected] 6. On page 46524, second column, in 17 CFR 255.10, remove ‘‘(11) * * *’’ and add in its place ‘‘(11) SBICs and public welfare investment funds. An issuer:’’ ■ § 255.20 [Corrected] 7. On page 46529, in the first column, in 17 CFR 255.20, in amendment 35b., add the words ‘‘introductory text’’ after the words ‘‘paragraph (d)(1)’’. ■ Jonathan V. Gould, Senior Deputy Comptroller and Chief Counsel, Office of the Comptroller of the Currency. Board of Governors of the Federal Reserve System. Ann E. Misback, Secretary of the Board. Federal Deposit Insurance Corporation. Dated at Washington, DC, on or about September 18, 2020. James P. Sheesley, Acting Assistant Executive Secretary. Commodity Futures Trading Commission. Dated: September 21, 2020. Robert Sidman, Deputy Secretary of the Commission. By the Securities and Exchange Commission. Vanessa A. Countryman, Secretary. [FR Doc. 2020–21100 Filed 9–24–20; 8:45 am] BILLING CODE P DEPARTMENT OF TRANSPORTATION Federal Aviation Administration 14 CFR Part 39 [Docket No. FAA–2018–0334; Product Identifier 2017–SW–133–AD; Amendment 39–21262; AD 2020–20–06] RIN 2120–AA64 Airworthiness Directives; Bell Helicopter Textron Canada Limited Helicopters Federal Aviation Administration (FAA), DOT. ACTION: Final rule. khammond on DSKJM1Z7X2PROD with RULES AGENCY: The FAA is adopting a new airworthiness directive (AD) for Bell Helicopter Textron Canada Limited (BHTC) Model 429 helicopters. This AD requires repetitive inspections of certain cyclic and collective assembly bearings. This AD was prompted by reports that precipitation can lead to reduced SUMMARY: VerDate Sep<11>2014 16:28 Sep 24, 2020 Jkt 250001 effectiveness of the grease in the bearings. The actions of this AD are intended to address an unsafe condition on these products. DATES: This AD is effective October 30, 2020. ADDRESSES: For service information identified in this final rule, contact Bell Helicopter Textron Canada Limited, 12,800 Rue de l’Avenir, Mirabel, Quebec J7J1R4; telephone 450–437–2862 or 800–363–8023; fax 450–433–0272; or at https://www.bellcustomer.com. You may view the referenced service information at the FAA, Office of the Regional Counsel, Southwest Region, 10101 Hillwood Pkwy., Room 6N–321, Fort Worth, TX 76177. Examining the AD Docket You may examine the AD docket on the internet at https:// www.regulations.gov by searching for and locating Docket No. FAA–2018– 0334; or in person at Docket Operations between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. The AD docket contains this AD, the Transport Canada AD, any comments received, and other information. The street address for Docket Operations is U.S. Department of Transportation, Docket Operations, M–30, West Building Ground Floor, Room W12–140, 1200 New Jersey Avenue SE, Washington, DC 20590. FOR FURTHER INFORMATION CONTACT: David Hatfield, Aviation Safety Engineer, Safety Management Section, Rotorcraft Standards Branch, FAA, 10101 Hillwood Pkwy., Fort Worth, TX 76177; telephone 817–222–5110; email david.hatfield@faa.gov. SUPPLEMENTARY INFORMATION: Discussion The FAA issued a notice of proposed rulemaking (NPRM) to amend 14 CFR part 39 by adding an AD that would apply to BHTC Model 429 helicopters with a bellcrank assembly part number (P/N) 429–001–523–101, 429–001–523– 103, 429–001–532–101 or 429–001– 532–103 installed. The NPRM published in the Federal Register on March 20, 2020 (85 FR 16019). The NPRM proposed to require, at specified intervals, disconnecting the forward ends of the collective control tube, longitudinal stability and control augmentation system (SCAS) actuator, and lateral SCAS actuator, and stowing the collective control tube and each SCAS actuator to prevent binding; and then inspecting for any roughness in the flight control system and any binding in any arm end bearing and on the longitudinal bellcrank assembly. If there PO 00000 Frm 00002 Fmt 4700 Sfmt 4700 is any roughness in the flight control system, the NPRM proposed to require replacing the six pivot bearings in the collective/lateral bellcrank assembly and the longitudinal bellcrank assembly. If there is any binding in any arm end bearing or on the longitudinal bellcrank assembly, the NPRM proposed to require replacing each arm end bearing before further flight. Transport Canada, which is the aviation authority for Canada, has issued Canadian AD CF–2016–11R2, dated October 18, 2017, to correct an unsafe condition for BHTC Model 429 helicopters equipped with a bellcrank assembly P/N 429–001–523–101, 429– 001–523–103, 429–001–532–101 or 429–001–532–103. Transport Canada advises that in-service reports show that bearings in the roof-mounted flight control bellcranks are adversely affected by precipitation. Pooling can occur at the forward portion of the roof, providing a source of contamination for bearings in the roof-mounted flight controls. Precipitation may reduce the effectiveness of the grease in the bearings, allowing corrosion to occur. This can result in intermittent restrictions, such as binding and roughness in the flight controls. Transport Canada also advises that an undetected corroded bearing could lead to restrictions in the collective, directional, or pitch control systems, resulting in difficulty controlling the helicopter. Transport Canada consequently requires within 12 months after the helicopter was manufactured and thereafter at intervals not to exceed 6 months, inspecting the flight controls and replacing any discrepant bearings. If the helicopter’s age exceeds 12 months, Transport Canada requires the 12-month inspection within 30 days. Transport Canada also requires, within 30 days, performing a functional check and replacement, if applicable, of the bearings if the most recent functional check of the helicopter was performed with the alternate procedure of using a hydraulic test stand or if the inspection method is unknown. Comments After the NPRM was published, the FAA received comments from two commenters. However, the comments addressed neither the proposed actions nor the determination of the cost to the public. Therefore, the FAA has made no changes based on those comments. FAA’s Determination These helicopters have been approved by the aviation authority of Canada and are approved for operation in the United E:\FR\FM\25SER1.SGM 25SER1

Agencies

[Federal Register Volume 85, Number 187 (Friday, September 25, 2020)]
[Rules and Regulations]
[Pages 60355-60356]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-21100]



========================================================================
Rules and Regulations
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains regulatory documents 
having general applicability and legal effect, most of which are keyed 
to and codified in the Code of Federal Regulations, which is published 
under 50 titles pursuant to 44 U.S.C. 1510.

The Code of Federal Regulations is sold by the Superintendent of Documents. 

========================================================================


Federal Register / Vol. 85, No. 187 / Friday, September 25, 2020 / 
Rules and Regulations

[[Page 60355]]



DEPARTMENT OF TREASURY

Office of the Comptroller of the Currency

12 CFR Part 44

[Docket No. OCC-2020-0002]
RIN 1557-AE67

FEDERAL RESERVE SYSTEM

12 CFR Part 248

[Docket No. R-1694]
RIN 7100-AF70

FEDERAL DEPOSIT INSURANCE CORPORATION

12 CFR Part 351

RIN 3064-AF17

COMMODITY FUTURES TRADING COMMISSION

17 CFR Part 75

RIN 3038-AE93

SECURITIES AND EXCHANGE COMMISSION

17 CFR Part 255

[Release no. BHCA-9A; File no. S7-02-20]
RIN 3235-AM70


Prohibitions and Restrictions on Proprietary Trading and Certain 
Interests in, and Relationships With, Hedge Funds and Private Equity 
Funds; Correction

AGENCY: Office of the Comptroller of the Currency, Treasury (OCC); 
Board of Governors of the Federal Reserve System (Board); Federal 
Deposit Insurance Corporation (FDIC); Securities and Exchange 
Commission (SEC); and Commodity Futures Trading Commission (CFTC).

ACTION: Notification of correction.

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

SUMMARY: The OCC, Board, FDIC, SEC, and CFTC (together, the agencies) 
are issuing this correction to make technical corrections to the 
Federal Register rule adopting amendments to the regulations 
implementing section 13 of the Bank Holding Company Act published on 
July 31, 2020.

DATES: Effective October 1, 2020.

FOR FURTHER INFORMATION CONTACT: 
    OCC: Tabitha Edgens, Counsel; Mark O'Horo, Senior Attorney, Chief 
Counsel's Office, (202) 649-5490; for persons who are deaf or hearing 
impaired, TTY, (202) 649-5597, Office of the Comptroller of the 
Currency, 400 7th Street SW, Washington, DC 20219.
    Board: Sarah Podrygula, Attorney, (202) 912-4658, or Kirin Walsh, 
Attorney, (202) 452-3058, Legal Division, Board of Governors of the 
Federal Reserve System, 20th and C Streets NW, Washington, DC 20551. 
For users of Telecommunication Device for the Deaf (TDD), (202) 263-
4869.
    FDIC: Michael B. Phillips, Counsel, (202) 898-3581, or Annmarie H. 
Boyd, Counsel, (202) 898-3714, Legal Division, Federal Deposit 
Insurance Corporation, 550 17th Street NW, Washington, DC 20429.
    CFTC: Cantrell Dumas, Special Counsel, (202) 418-5043, 
[email protected], Division of Swap Dealer and Intermediary Oversight; 
Mark Fajfar, Assistant General Counsel, (202) 418-6636, 
[email protected], Office of the General Counsel; Commodity Futures 
Trading Commission, Three Lafayette Centre, 1155 21st Street NW, 
Washington, DC 20581.
    SEC: William Miller, Senior Counsel, or Jennifer Songer, Branch 
Chief at (202) 551-6787 or [email protected], Investment Adviser 
Regulation Office, Division of Investment Management, U.S. Securities 
and Exchange Commission, 100 F Street NE, Washington, DC 20549.
    You may also contact any of the individuals for these agencies 
named in the final rule published on July 31, 2020, at 85 FR 46422.

SUPPLEMENTARY INFORMATION: The agencies are issuing this correction to 
make technical corrections to the final rule adopting amendments to the 
regulations implementing section 13 of the Bank Holding Company Act 
published on July 31, 2020 (the 2020 amendments).\1\ Two of the 
amendatory instructions of the 2020 amendments did not accurately 
reflect changes to the agencies' rules as described in the 
Supplementary Information section of the 2020 amendments. This 
correction corrects the agencies' Federal Register notice consistent 
with the Supplementary Information section of the 2020 amendments. 
Specifically, this correction corrects an instruction stating that the 
agencies were revising paragraph (d)(1) of section __.20 of the 2020 
amendments when the agencies intended to revise the introductory text 
to paragraph (d)(1). This correction also corrects instructions 
concerning 17 CFR 255.10(c)(11) and 75.10(c)(11) to retain the 
introductory text for those paragraphs. The agencies note that the 
effective date for the 2020 amendments is unchanged and continues to be 
October 1, 2020.
---------------------------------------------------------------------------

    \1\ 85 FR 46422 (July 31, 2020).
---------------------------------------------------------------------------

Correction

    In the Federal Register of July 31, 2020, FR Rule Doc. 2020-15525, 
beginning on page 46422, is corrected as follows:

Title 12


Sec.  44.20  [Corrected]

0
1. On page 46502, in the third column, in 12 CFR 44.20, in amendment 
7b., add the words ``introductory text'' after the words ``paragraph 
(d)(1)''.


Sec.  248.20   [Corrected]

0
2. On page 46509, in the second column, in 12 CFR 248.20, in amendment 
14b., add the words ``introductory text'' after the words ``paragraph 
(d)(1)''.


Sec.  351.20   [Corrected]

0
3. On page 46516, in the first column, in 12 CFR 351.20, in amendment 
21b., add the words ``introductory text'' after the words ``paragraph 
(d)(1)''.

Title 17


Sec.  75.10  [Corrected]

0
4. On page 46517, third column, in 17 CFR 75.10, remove ``(11) * * *'' 
and add in its place ``(11) SBICs and public welfare investment funds. 
An issuer:''


Sec.  75.20   [Corrected]

0
5. On page 46522, in the second column, in 17 CFR 75.20, in amendment

[[Page 60356]]

28b., add the words ``introductory text'' after the words ``paragraph 
(d)(1)''.


Sec.  255.10   [Corrected]

0
6. On page 46524, second column, in 17 CFR 255.10, remove ``(11) * * 
*'' and add in its place ``(11) SBICs and public welfare investment 
funds. An issuer:''


Sec.  255.20  [Corrected]

0
7. On page 46529, in the first column, in 17 CFR 255.20, in amendment 
35b., add the words ``introductory text'' after the words ``paragraph 
(d)(1)''.

Jonathan V. Gould,
Senior Deputy Comptroller and Chief Counsel, Office of the Comptroller 
of the Currency.

    Board of Governors of the Federal Reserve System.
Ann E. Misback,
Secretary of the Board.

Federal Deposit Insurance Corporation.

    Dated at Washington, DC, on or about September 18, 2020.
James P. Sheesley,
Acting Assistant Executive Secretary.

Commodity Futures Trading Commission.

    Dated: September 21, 2020.
Robert Sidman,
Deputy Secretary of the Commission.

    By the Securities and Exchange Commission.
Vanessa A. Countryman,

Secretary.
[FR Doc. 2020-21100 Filed 9-24-20; 8:45 am]
BILLING CODE P