82 FR 45433 - Commission Delegated Authority Provisions for Designated Contract Markets' System Safeguards Requirements
COMMODITY FUTURES TRADING COMMISSION Federal Register Volume 82, Issue 188 (September 29, 2017)
Federal Register Volume 82, Issue 188 (September 29, 2017)
| Page Range | 45433-45434 | |
| FR Document | 2017-20924 |
[Federal Register Volume 82, Number 188 (Friday, September 29, 2017)] [Rules and Regulations] [Pages 45433-45434] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-20924] ======================================================================= ----------------------------------------------------------------------- COMMODITY FUTURES TRADING COMMISSION 17 CFR Part 38 RIN 3038-AE64 Commission Delegated Authority Provisions for Designated Contract Markets' System Safeguards Requirements AGENCY: Commodity Futures Trading Commission. ACTION: Final rule. ----------------------------------------------------------------------- SUMMARY: The Commodity Futures Trading Commission (``CFTC'' or ``Commission'') is adopting final rules to establish a new delegation of authority to Commission staff under the Commission's system safeguards rules to notify each designated contract market (``DCM'') of its percentage of the total annual trading volume among all DCMs regulated by the Commission for purposes of whether it is a covered DCM under the system safeguards rules. DATES: This rule is effective September 29, 2017. FOR FURTHER INFORMATION CONTACT: Rachel Berdansky, Deputy Director, 202-418-5429 or [email protected]; David Steinberg, Associate Director, 202-418-5102 or [email protected]; David Taylor, Associate Director, 202-418-5488 or [email protected], Division of Market Oversight, Commodity Futures Trading Commission, Three Lafayette Centre, 1151 21st Street NW., Washington, DC 20581. SUPPLEMENTARY INFORMATION: I. Delegation of Authority--Commission Regulation Sec. 38.1051 Section 38.1051 of the Commission's regulations, 17 CFR 38.1051, governs the system safeguards requirements for DCMs. Pursuant to Sec. 38.1051(n), DCMs are required to provide the Commission with their annual total trading volume by January 31 each calendar year. Section 38.1051(n)(2) also requires the Commission to provide each DCM with their percentage of the combined annual total trading volume among all DCMs regulated by the Commission by February 28 each calendar year. This annual Commission notification informs each DCM whether it is a ``covered DCM'' as that term is defined in Sec. 38.1051(h)(1). A covered DCM is a DCM whose annual trading volume in a given year is five percent or more of the combined annual trading volume of all DCMs regulated by the Commission. Covered DCMs are required to comply with enhanced requirements with respect to the frequency of cybersecurity testing and the use of independent contractors. The Commission is amending Sec. 38.1051 by adding paragraph (n)(3) to delegate authority to the Director of the Division of Market Oversight and designated staff to notify DCMs of their annual trading volume percentage. II. Effective Date As the revisions to the Commission's regulations in this rulemaking will not cause any party to undertake efforts to comply with the regulations as revised, the Commission has determined to [[Page 45434]] make this rulemaking effective upon publication in the Federal Register.\1\ --------------------------------------------------------------------------- \1\ 5 U.S.C. 553(d). --------------------------------------------------------------------------- III. Paperwork Reduction Act The Commission may not conduct or sponsor, and a respondent is not required to respond to, a collection of information contained in a rulemaking unless the information collection displays a currently valid control number issued by the Office of Management and Budget (``OMB'') pursuant to the Paperwork Reduction Act.\2\ This rulemaking contains no collection of information for which the Commission is obligated to obtain a control number from OMB. --------------------------------------------------------------------------- \2\ 44 U.S.C. 3501 et seq. --------------------------------------------------------------------------- List of Subjects in 17 CFR Part 38 Commodity futures, Reporting and recordkeeping requirements. For the reasons stated in the preamble, the Commodity Futures Trading Commission amends 17 CFR part 38 as follows: PART 38--DESIGNATED CONTRACT MARKETS 0 1. The authority citation for part 38 continues to read as follows: Authority: 7 U.S.C. 1a, 2, 6, 6a, 6c, 6d, 6e, 6f, 6g, 6i, 6j, 6k, 6l, 6m, 6n, 7, 7a-2, 7b, 7b-1, 7b-3, 8, 9, 15, and 21, as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. L. 111-203, 124 Stat. 1376. 0 2. In Sec. 38.1051, add paragraph (n)(3) to read as follows: Sec. 38.1051 General requirements. * * * * * (n) * * * (3) Delegation of authority. The Commission hereby delegates, until it orders otherwise, to the Director of the Division of Market Oversight or such other employee or employees as the Director may designate from time to time, the authority to provide each designated contract market with its percentage of the total annual trading volume of all designated contract markets regulated by the Commission, as set forth in paragraph (n)(2) of this section. The Director of the Division of Market Oversight may submit to the Commission for its consideration any matter that has been delegated pursuant to this section. Nothing in this section prohibits the Commission, at its election, from exercising the authority delegated in this section. Issued in Washington, DC, on September 26, 2017, by the Commission. Christopher J. Kirkpatrick, Secretary of the Commission. Note: The following appendix will not appear in the Code of Federal Regulations. Appendix to Commission Delegated Authority Provisions for Designated Contract Markets' System Safeguards Requirements--Commission Voting Summary On this matter, Chairman Giancarlo and Commissioners Bowen, Quintenz, and Behnam voted in the affirmative. No Commissioner voted in the negative. [FR Doc. 2017-20924 Filed 9-28-17; 8:45 am] BILLING CODE 6351-01-P
![Federal Register / Vol. 82, No. 188 / Friday, September 29, 2017 / Rules and Regulations 45433
preferable. The ROD shall discuss have a bearing on the proposed action SUMMARY: The Commodity Futures
preferences among alternatives based on or its impacts. Trading Commission (‘‘CFTC’’ or
relevant factors including economic and (b) The NCPC may supplement a Draft ‘‘Commission’’) is adopting final rules to
technical planning considerations and or Final EIS at any time, to further the establish a new delegation of authority
the Commission’s statutory mission. purposes of NEPA. to Commission staff under the
The ROD shall identify those factors (c) The NCPC shall prepare, circulate, Commission’s system safeguards rules
balanced to reach a decision and the and file a supplement to a Draft or Final to notify each designated contract
influence of various factors on the EIS in in accordance with the market (‘‘DCM’’) of its percentage of the
decision. requirements of §§ 601.22 through total annual trading volume among all
(iii) A statement as to whether all 601.24 except that Public Scoping is DCMs regulated by the Commission for
practicable means to avoid or minimize optional for a supplemental EIS. purposes of whether it is a covered DCM
environmental harm from the (d) The NCPC shall prepare a ROD for under the system safeguards rules.
alternative selected has been adopted, a Supplemental EIS. The ROD’s DATES: This rule is effective September
and if not, why they are not. contents, the procedure for public 29, 2017.
(iv) A monitoring and enforcement review, and the manner in which it FOR FURTHER INFORMATION CONTACT:
program that summarizes Mitigation shall be adopted shall be as set forth in Rachel Berdansky, Deputy Director,
measures. § 601.25. 202–418–5429 or rberdansky@cftc.gov;
(v) Date of issuance.
§ 601.27 Legislative Environmental Impact David Steinberg, Associate Director,
(vi) Signature of the Chairman.
(2) The contents of the draft ROD Statement. 202–418–5102 or dsteinberg@cftc.gov;
proposed for Commission adoption (a) Consistent with 40 CFR1506.8, the David Taylor, Associate Director, 202–
shall be summarized in the EDR and a Executive Director shall prepare an EIS 418–5488 or dtaylor@cftc.gov, Division
full version of the draft document shall for draft legislation initiated by NCPC of Market Oversight, Commodity
be included as an Appendix to the EDR. for submission to Congress. The EIS for Futures Trading Commission, Three
The Draft ROD, independently of the the proposed legislation shall be Lafayette Centre, 1151 21st Street NW.,
EDR, shall be made available to the included as part of the formal Washington, DC 20581.
public for review fourteen (14) calendar transmittal of NCPC’s legislative SUPPLEMENTARY INFORMATION:
days prior to the Commission’s proposal to Congress. I. Delegation of Authority—Commission
consideration of the proposed action for (b) The requirements of this section Regulation § 38.1051
which the EIS was prepared. shall not apply to legislation Congress
(3) The Commission shall arrive at its directs NCPC to prepare. Section 38.1051 of the Commission’s
decision about the proposed action for regulations, 17 CFR 38.1051, governs
which NCPC serves as the Lead Agency Subpart G—Dispute Resolution the system safeguards requirements for
and its environmental effects in a public DCMs. Pursuant to § 38.1051(n), DCMs
§ 601.28 Dispute resolution. are required to provide the Commission
meeting of record as identified by the
Any disputes arising under this part, with their annual total trading volume
Commission’s monthly agenda.
shall be resolved, unless otherwise by January 31 each calendar year.
(b) If NCPC is not the Lead Agency,
otherwise provided by law or regulation Section 38.1051(n)(2) also requires the
following the Commission final
by the parties through interagency, good Commission to provide each DCM with
approval of a project to which a ROD
faith negotiations starting at the working their percentage of the combined annual
pertains, and consistent with the
levels of each agency, and if necessary, total trading volume among all DCMs
Federal Agency’s NEPA regulations,
by elevating such disputes within the regulated by the Commission by
NCPC may take one of the following
respective Agencies. If resolution at February 28 each calendar year. This
actions. It may either co-sign the Lead
higher levels is unsuccessful, the parties annual Commission notification informs
Agency’s ROD following Commission
may participate in mediation. each DCM whether it is a ‘‘covered
approval of the project if NCPC agrees
with its contents and conclusions or it § 601.29 [Reserved]
DCM’’ as that term is defined in
shall prepare, sign, and sign and adopt § 38.1051(h)(1). A covered DCM is a
its own ROD in accordance with the Dated: September 21, 2017. DCM whose annual trading volume in a
requirements of paragraphs (a)(1) Anne R. Schuyler, given year is five percent or more of the
through (3) of this section. General Counsel. combined annual trading volume of all
(c) If the Commission determines a [FR Doc. 2017–20614 Filed 9–28–17; 8:45 am] DCMs regulated by the Commission.
Lead Agency’s EIS fails to support a BILLING CODE P
Covered DCMs are required to comply
ROD, the Lead Agency shall revise its with enhanced requirements with
EIS, or, alternatively, the Commission respect to the frequency of cybersecurity
shall not approve or give any further testing and the use of independent
COMMODITY FUTURES TRADING
consideration to underlying application. contractors. The Commission is
COMMISSION
amending § 38.1051 by adding
§ 601.26 Supplemental Environmental paragraph (n)(3) to delegate authority to
17 CFR Part 38
Impact Statement. the Director of the Division of Market
(a) The NCPC shall prepare a RIN 3038–AE64 Oversight and designated staff to notify
supplemental EIS if five or more years DCMs of their annual trading volume
asabaliauskas on DSKBBXCHB2PROD with RULES
has elapsed since adoption of the EIS Commission Delegated Authority percentage.
and: Provisions for Designated Contract
(1) There are substantial changes to Markets’ System Safeguards II. Effective Date
the proposed action that are relevant to Requirements As the revisions to the Commission’s
environmental concerns; or AGENCY: Commodity Futures Trading regulations in this rulemaking will not
(2) There are significant new Commission. cause any party to undertake efforts to
circumstances or information that are comply with the regulations as revised,
ACTION: Final rule.
relevant to environmental concerns and the Commission has determined to
VerDate Sep<11>2014 16:55 Sep 28, 2017 Jkt 241001 PO 00000 Frm 00013 Fmt 4700 Sfmt 4700 E:\FR\FM\29SER1.SGM 29SER1](https://thefederalregister.org/doc/82_FR_45621/page/1.svg)
![45434 Federal Register / Vol. 82, No. 188 / Friday, September 29, 2017 / Rules and Regulations
make this rulemaking effective upon Issued in Washington, DC, on September formatting requirements for the
publication in the Federal Register.1 26, 2017, by the Commission. preparation and submission of
Christopher J. Kirkpatrick, electronic filings through the EDGAR
III. Paperwork Reduction Act Secretary of the Commission. system.1 It also describes the
The Commission may not conduct or requirements for filing using
Note: The following appendix will not
sponsor, and a respondent is not appear in the Code of Federal Regulations. EDGARLink Online and the Online
required to respond to, a collection of Forms/XML Web site.
information contained in a rulemaking Appendix to Commission Delegated The revisions to the Filer Manual
unless the information collection Authority Provisions for Designated reflect changes within Volume I,
displays a currently valid control Contract Markets’ System Safeguards entitled EDGAR Filer Manual, Volume I:
number issued by the Office of Requirements—Commission Voting ‘‘General Information,’’ Version 29
Management and Budget (‘‘OMB’’) Summary (September 2017), and Volume II,
pursuant to the Paperwork Reduction entitled EDGAR Filer Manual, Volume
On this matter, Chairman Giancarlo and II: ‘‘EDGAR Filing,’’ Version 43
Act.2 This rulemaking contains no Commissioners Bowen, Quintenz, and (September 2017). The updated manual
collection of information for which the Behnam voted in the affirmative. No
will be incorporated by reference into
Commission is obligated to obtain a Commissioner voted in the negative.
the Code of Federal Regulations.
control number from OMB. [FR Doc. 2017–20924 Filed 9–28–17; 8:45 am] The Filer Manual contains all the
List of Subjects in 17 CFR Part 38 BILLING CODE 6351–01–P technical specifications for filers to
submit filings using the EDGAR system.
Commodity futures, Reporting and Filers must comply with the applicable
recordkeeping requirements. SECURITIES AND EXCHANGE provisions of the Filer Manual in order
For the reasons stated in the COMMISSION to assure the timely acceptance and
preamble, the Commodity Futures processing of filings made in electronic
17 CFR Part 232 format.2 Filers may consult the Filer
Trading Commission amends 17 CFR
part 38 as follows: [Release Nos. 33–10413; 34–81592; 39– Manual in conjunction with our rules
2518; IC–32818] governing mandated electronic filing
PART 38—DESIGNATED CONTRACT when preparing documents for
MARKETS Adoption of Updated EDGAR Filer electronic submission.3
Manual The EDGAR system will be upgraded
■ 1. The authority citation for part 38 AGENCY: Securities and Exchange to Release 17.3 on September 11, 2017,
continues to read as follows: Commission. and will introduce the following
changes:
Authority: 7 U.S.C. 1a, 2, 6, 6a, 6c, 6d, 6e, ACTION: Final rule. In Release No. 33–10231 (October 13,
6f, 6g, 6i, 6j, 6k, 6l, 6m, 6n, 7, 7a–2, 7b, 2016) [81 FR 81870], the Commission
7b–1, 7b–3, 8, 9, 15, and 21, as amended by SUMMARY: The Securities and Exchange
Commission (the ‘‘Commission’’) is adopted changes to the reporting
the Dodd-Frank Wall Street Reform and
adopting revisions to the Electronic Data requirements for investment companies.
Consumer Protection Act, Pub. L. 111–203,
124 Stat. 1376. Gathering, Analysis, and Retrieval Among the changes was the adoption of
System (‘‘EDGAR’’) Filer Manual and Form N–PORT, which requires
■ 2. In § 38.1051, add paragraph (n)(3) related rules to reflect updates to the investment companies to report
to read as follows: EDGAR system. The EDGAR system is information about portfolio holdings
scheduled to be upgraded on September monthly in a structured format. EDGAR
§ 38.1051 General requirements. Release 17.3 will provide a pilot
11, 2017.
* * * * * DATES: Effective September 29, 2017,
program whereby filers may submit
(n) * * * except that amendatory instruction 4 to TEST versions of the following form
§ 232.301 is effective June 1, 2018. The types:
(3) Delegation of authority. The • Public Monthly Portfolio
Commission hereby delegates, until it incorporation by reference of the
Investments Report on Form N–PORT
orders otherwise, to the Director of the EDGAR Filer Manual is approved by the
(NPORT–P).
Division of Market Oversight or such Director of the Federal Register as of • Amended Public Monthly Portfolio
other employee or employees as the September 29, 2017. Investments Report on Form N–PORT
Director may designate from time to FOR FURTHER INFORMATION CONTACT: In (NPORT–P/A).
time, the authority to provide each the Division of Investment Management, • Non-Public Monthly Portfolio
designated contract market with its for questions concerning Forms N– Investments Report on Form N–PORT
percentage of the total annual trading PORT and N–CEN, contact Heather (NPORT–NP).
volume of all designated contract Fernandez at (202) 551–6708; in the • Amended Non-Public Monthly
markets regulated by the Commission, Division of Corporation Finance, for Portfolio Investments Report on Form
as set forth in paragraph (n)(2) of this questions concerning Forms S–1, S–3, N–PORT (NPORT–NP/A).
section. The Director of the Division of S–4, S–8, S–11, F–1, F–3, F–4, 8–K, 10,
Market Oversight may submit to the 10–K, 10–Q, 20–F, and 40–F, contact 1 We originally adopted the Filer Manual on April
Commission for its consideration any Heather Mackintosh at (202) 551–8111; 1, 1993, with an effective date of April 26, 1993.
asabaliauskas on DSKBBXCHB2PROD with RULES
in the Office of Financial Management, Release No. 33–6986 (April 1, 1993) [58 FR 18638].
matter that has been delegated pursuant We implemented the most recent update to the Filer
to this section. Nothing in this section for questions about negative account Manual on July 17, 2017. See Release No. 33–10385
prohibits the Commission, at its balances, contact Andrew Grimaldi at (July 6, 2017) [82 FR 35062].
election, from exercising the authority (202) 551–7304. 2 See Rule 301 of Regulation S–T (17 CFR
delegated in this section. SUPPLEMENTARY INFORMATION: We are 232.301).
3 See Release No. 33–10385 in which we
adopting an updated EDGAR Filer implemented revisions to reflect EDGAR Release
15 U.S.C. 553(d). Manual, Volume I and Volume II. The 17.2. For additional history of EDGAR Filer Manual
2 44 U.S.C. 3501 et seq. Filer Manual describes the technical revisions, please see the citations therein.
VerDate Sep<11>2014 16:55 Sep 28, 2017 Jkt 241001 PO 00000 Frm 00014 Fmt 4700 Sfmt 4700 E:\FR\FM\29SER1.SGM 29SER1](https://thefederalregister.org/doc/82_FR_45621/page/2.svg)
Document Created: 2017-09-29 03:27:02
Document Modified: 2017-09-29 03:27:02
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Rules and Regulations | |
| Action | Final rule. | |
| Dates | This rule is effective September 29, 2017. | |
| Contact | Rachel Berdansky, Deputy Director, 202-418-5429 or [email protected]; David Steinberg, Associate Director, 202-418-5102 or [email protected]; David Taylor, Associate Director, 202-418-5488 or [email protected], Division of Market Oversight, Commodity Futures Trading Commission, Three Lafayette Centre, 1151 21st Street NW., Washington, DC 20581. | |
| FR Citation | 82 FR 45433 | |
| RIN Number | 3038-AE64 | |
| CFR Associated | Commodity Futures and Reporting and Recordkeeping Requirements |
2025 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR