82 FR 7643 - Annual Adjustment of Civil Monetary Penalties for Inflation-2017
COMMODITY FUTURES TRADING COMMISSION Federal Register Volume 82, Issue 13 (January 23, 2017)
Federal Register Volume 82, Issue 13 (January 23, 2017)
| Page Range | 7643-7645 | |
| FR Document | 2017-00488 |
[Federal Register Volume 82, Number 13 (Monday, January 23, 2017)] [Rules and Regulations] [Pages 7643-7645] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-00488] [[Page 7643]] ======================================================================= ----------------------------------------------------------------------- COMMODITY FUTURES TRADING COMMISSION 17 CFR Part 143 RIN 3038-AE51 Annual Adjustment of Civil Monetary Penalties for Inflation--2017 AGENCY: Commodity Futures Trading Commission. ACTION: Interim final rule. ----------------------------------------------------------------------- SUMMARY: The Commodity Futures Trading Commission (Commission) is amending its rule that governs the maximum amount of civil monetary penalties, to adjust for inflation. This rule sets forth the maximum, inflation-adjusted dollar amount for civil monetary penalties (CMPs) assessable for violations of the Commodity Exchange Act (CEA) and Commission rules, regulations and orders thereunder. The rule, as amended, implements the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended. DATES: Effective Date: This interim final rule is effective January 23, 2017. FOR FURTHER INFORMATION CONTACT: Edward J. Riccobene, Associate Chief Counsel, Division of Enforcement, at (202) 418-5327 or [email protected], Commodity Futures Trading Commission, 1155 21st Street NW., Washington, DC 20581. SUPPLEMENTARY INFORMATION: I. Background The Federal Civil Penalties Inflation Adjustment Act of 1990 (FCPIAA) \1\ requires the head of each Federal agency to periodically adjust for inflation the minimum and maximum amount of CMPs provided by law within the jurisdiction of that agency.\2\ A 2015 amendment to the FCPIAA \3\ required agencies to make an initial ``catch-up'' adjustment to its civil monetary penalties effective no later than August 1, 2016.\4\ For every year thereafter effective not later than January 15, the FCPIAA, as amended, requires agencies to make annual adjustments for inflation, with guidance from the Director of the Office of Management and Budget.\5\ --------------------------------------------------------------------------- \1\ The FCPIAA, Public Law 101-410 (1990), as amended, is codified at 28 U.S.C. 2461 note. The FCPIAA states that the purpose of the act is to establish a mechanism that (1) allows for regular adjustment for inflation of civil monetary penalties; (2) maintains the deterrent effect of civil monetary penalties and promote compliance with the law; and (3) improves the collection by the Federal Government of civil monetary penalties. \2\ For the relevant CMPs within the Commission's jurisdiction, the Act provides only for maximum amounts that can be assessed for each violation of the Act or the rules, regulations and orders promulgated thereunder; the Act does not set forth any minimum penalties. Therefore, the remainder of this release will refer only to CMP maximums. \3\ Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015, 2015 Act, Public Law 114-74, 129 Stat. 584 (2015), title VII, Section 701. \4\ FCPIAA Sections 4 and 5. See also, Adjustment of Civil Monetary Penalties for Inflation, 81 FR 41435 (June 27, 2016) (to be codified at 17 CFR 143.8). \5\ FCPIAA Sections 4 and 5. See also, Executive Office of the President, Office of Management and Budget Memorandum, M-17-11, Implementation of the 2017 annual adjustment pursuant to the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 (Dec. 16, 2016) available at https://www.whitehouse.gov/sites/default/files/omb/memoranda/2017/m-17-11_0.pdf. --------------------------------------------------------------------------- II. Commodity Exchange Act Civil Monetary Penalties The CEA provides for CMPs that meet the FCPIAA definition \6\ and these CMPs are, therefore, subject to the inflation adjustment in the following instances: Sections 6(c), 6(d), 6b, and 6c of the CEA.\7\ --------------------------------------------------------------------------- \6\ FCPIAA Section 3(2). \7\ 7 U.S.C. 9, 13a, 13a-1, 13b. --------------------------------------------------------------------------- Section 6(c) of the CEA,\8\ as adjusted by the FCPIAA,\9\ currently sets the maximum CMP that may be imposed by the Commission, in a proceeding initiated on or after August 1, 2016, on ``any person (other than a registered entity)'' for: (1) Each violation of Section 6(c) of the CEA or any other provisions of the Act or of the rules, regulations, or orders of the Commission thereunder to the greater of $152,243 or triple the monetary gain to the violator; and (2) any manipulation or attempted manipulation in violation of Section 6(c) or 9(a)(2) of the CEA to the greater of $1,098,190 or triple the monetary gain to the violator. --------------------------------------------------------------------------- \8\ 7 U.S.C. 9. \9\ See 17 CFR 143.8(a)(1)(ii). --------------------------------------------------------------------------- Section 6(d) of the CEA,\10\ as adjusted by the FCPIAA,\11\ currently sets the maximum CMP that may be imposed by the Commission, in a proceeding initiated on or after August 1, 2016, on ``any person (other than a registered entity)'' \12\ for violations of the CEA or any other provisions of the CEA or of the rules, regulations, or orders of the Commission thereunder to the greater of $152,243 or triple the monetary gain to the violator. --------------------------------------------------------------------------- \10\ 7 U.S.C. 13b. \11\ See 17 CFR 143.8(a)(2)(ii). \12\ The term ``registered entity'' is a defined term under the CEA. Section 1a(40) provides that the term ``registered entity'' means (A) a board of trade designated as a contract market under section 7 of the act; (B) a derivatives clearing organization registered under section 7a-1 of this act; (C) a board of trade designated as a contract market under section 7b-1 of the act; (D) a swap execution facility registered under section 7b-3 of this title; (E) a swap data repository registered under section 24a of the act; and (F) with respect to a contract that the Commission determines is a significant price discovery contract, any electronic trading facility on which the contract is executed or traded. 7 U.S.C. 1a(40). --------------------------------------------------------------------------- Section 6b of the CEA \13\ provides that the Commission, in an administrative proceeding, may impose a CMP on: (1) Any registered entity for not enforcing or has not enforced its rules of government made a condition of its designation or registration as set forth in the CEA, or (2) any registered entity, or any director, officer, agent, or employee of any registered entity, for violations of the CEA or any rules, regulations, or orders of the Commission thereunder. In actions initiated on or after August 1, 2016, for each violation for which a CMP is assessed pursuant to Section 6b, the current, FCPIAA-adjusted maximum penalty is set at: The greater of $1,098,190 or triple the monetary gain to such person for manipulation or attempted manipulation in violation of Section 6(c), 6(d), or 9(a)(2) of the CEA; and the greater of $838,640 or triple the monetary gain to such person for all other violations.\14\ --------------------------------------------------------------------------- \13\ 7 U.S.C. 13a. \14\ 17 CFR 143.8(a)(3)(ii). --------------------------------------------------------------------------- Section 6c of the CEA \15\ provides that Commission may bring an action in the proper district court of the United States or the proper United States court of any territory or other place subject to the jurisdiction of the United States and the court may impose on a CMP on ``any registered entity or other person'' found by the court to have committed any violation of any provision of the CEA or any rule, regulation, or order thereunder, or is restraining trading in any commodity for future delivery or any swap. In actions initiated on or after August 1, 2016, for each violation for which a CMP is assessed pursuant to Section 6c(d), the current, FCPIAA-adjusted maximum penalty is set at: The greater of $1,098,190 or triple the monetary gain to such person for manipulation or attempted manipulation in violation of Section 6(c), 6(d), or 9(a)(2) of the CEA; and the greater of $167,728 or triple the monetary gain to such person for all other violations.\16\ --------------------------------------------------------------------------- \15\ 7 U.S.C. 13a-1. \16\ 17 CFR 143.8(a)(4)(ii). --------------------------------------------------------------------------- III. Annual Inflation Adjustment for Commodity Exchange Act Civil Monetary Penalties A. Methodology The annual inflation adjustment under the FCPIAA, in the context of the CFTC's CMPs, is determined by increasing the maximum penalty by a ``cost-of-living adjustment,'' rounded to [[Page 7644]] the nearest multiple of one dollar.\17\ Annual inflation adjustments are based on the percent change between the October Consumer Price Index for all Urban Consumers (CPI-U) preceding the date of the adjustment, and the prior year's October CPI-U.\18\ In this case, October 2016 CPI-U (241.729)/October 2015 CPI-U (237.838) = 1.01636.\19\ In order to complete the 2017 annual adjustment, the CFTC must multiply each of its most recent CMP amounts by the multiplier, 1.01636, and round to the nearest dollar. --------------------------------------------------------------------------- \17\ FCPIAA Sections 4 and 5. \18\ FCPIAA Section 5(b)(1). \19\ The CPI-U is published by the Department of Labor. Interested parties may find the relevant Consumer Price Index on the Internet. To access this information, go to the Consumer Price Index Home Page at: http://www.bls.gov/cpi/. Under the ``CPI Databases'' heading, select ``All Urban Consumers (Current Series)'', ``Top Picks.'' Then check the box for ``U.S. All items, 1982-84 = 100- CUUR0000SA0'', and click the ``Retrieve data'' button. --------------------------------------------------------------------------- B. Civil Monetary Penalty Adjustments Applying the FCPIAA annual inflation adjustment methodology results in the following amended CMPs: ---------------------------------------------------------------------------------------------------------------- Current 2017 Annual inflation inflation Citation Description adjusted CMP adjusted CMP amount amount ---------------------------------------------------------------------------------------------------------------- Section 6(c) of the CEA, 7 U.S.C. 9........ Prohibition Regarding Manipulation $152,243 $154,734 and False Information [Other Violation (Non-Manipulation)]. Section 6(c) of the CEA, 7 U.S.C. 9........ Prohibition Regarding Manipulation 1,098,190 1,116,156 and False Information [Manipulation or Attempted Manipulation]. Section 6(d) of the CEA, 7 U.S.C. 13b...... Manipulations or Other Violations; 152,243 154,734 Cease and Desist Orders Against Persons Other Than Registered Entities; Punishment; Misdemeanor or Felony; Separate Offenses. Section 6b of the CEA, 7 U.S.C. 13a........ Nonenforcement of Rules of 838,640 852,360 Government or Other Violations; Cease and Desist Orders; Fines and Penalties; Imprisonment; Misdemeanor; Separate Offenses [Other Violation (Non- Manipulation)]. Section 6b of the CEA, 7 U.S.C. 13a........ Nonenforcement of Rules of 1,098,190 1,116,156 Government or Other Violations; Cease and Desist Orders; Fines and Penalties; Imprisonment; Misdemeanor; Separate Offenses [Manipulation or Attempted Manipulation]. Section 6c of the CEA, 7 U.S.C. 13a-1...... Enjoining or Restraining Violations 167,728 170,472 [Other Violation (Non- Manipulation)]. Section 6c of the CEA, 7 U.S.C. 13a-1...... Enjoining or Restraining Violations 1,098,190 1,116,156 [Manipulation or Attempted Manipulation]. ---------------------------------------------------------------------------------------------------------------- The FCPIAA provides that any increase under [the FCPIAA] in a civil monetary penalty shall apply only to civil monetary penalties, including those whose associated violation predated such increase, which are assessed after the date the increase takes effect.\20\ Thus, the new CMP amounts established by this rulemaking may be applied only in Commission administrative or civil injunctive enforcement proceedings that are initiated on or after the effective date of this amendment, January 15, 2017. --------------------------------------------------------------------------- \20\ FCPIAA Section 6. --------------------------------------------------------------------------- IV. Administrative Compliance A. Notice Requirement The notice and comment procedures of 5 U.S.C. 553 do not apply to this rulemaking because the Commission is acting herein pursuant to statutory language which mandates that the Commission act in a nondiscretionary matter. Lake Carriers' Ass'n v. E.P.A., 652 F.3d 1, 10 (D.C. Cir. 2011).\21\ --------------------------------------------------------------------------- \21\ The Commission has determined that the amendment to rule 143.8 is exempt from the provisions of the Administrative Procedure Act, 5 U.S.C. 553, which generally require notice of proposed rulemaking and provide other opportunities for public participation, but excludes rules of agency practice, such as those found in part 143 of the Commission's regulations, and in particular rule 143.8 being revised herein. --------------------------------------------------------------------------- B. Regulatory Flexibility Act The Regulatory Flexibility Act \22\ requires agencies with rulemaking authority to consider the impact of certain of their rules on small businesses. A regulatory flexibility analysis is only required for rules for which the agency publishes a general notice of proposed rulemaking pursuant to section 553(b) or any other law. Because the Commission is not obligated by section 553(b) or any other law to publish a general notice of proposed rulemaking with respect to the revisions being made to regulation 143.8, the Commission additionally is not obligated to conduct a regulatory flexibility analysis. --------------------------------------------------------------------------- \22\ 5 U.S.C. 601-612. --------------------------------------------------------------------------- C. Paperwork Reduction Act The Paperwork Reduction Act of 1995 (PRA),\23\ which imposes certain requirements on Federal agencies, including the Commission, in connection with their conducting or sponsoring any collection of information as defined by the PRA, does not apply to this rule. This rule amendment does not contain information collection requirements that require the approval of the Office of Management and Budget. --------------------------------------------------------------------------- \23\ 44 U.S.C. 3507(d). --------------------------------------------------------------------------- D. Consideration of Costs and Benefits Section 15(a) of the CEA \24\ requires the Commission to consider the costs and benefits of its action before issuing a new regulation. Section 15(a) further specifies that costs and benefits shall be evaluated in light of five broad areas of market and public concern: (1) Protection of market participants and the public; (2) efficiency, competitiveness, and financial integrity of futures markets; (3) price discovery; (4) sound risk management practices; and (5) other public interest considerations. --------------------------------------------------------------------------- \24\ 7 U.S.C. 19(a). --------------------------------------------------------------------------- The Commission believes that benefits of this rulemaking greatly outweigh the costs, if any. As the Commission understands, the statutory provisions by which it is making cost-of-living adjustments to the CMPs in regulation 143.8 were enacted to ensure that CMPs do not lose their deterrence value because of inflation. An analysis of the costs and benefits of these adjustments were made before enactment of the statutory provisions under which the Commission is operating, and limit the discretion of the Commission to the extent that there are [[Page 7645]] no regulatory choices the Commission could make that would supersede the pre-enactment analysis with respect to the five factors enumerated in section 15(a), or any other factors. List of Subjects in 17 CFR Part 143 Civil monetary penalties, Claims. For the reasons stated in the preamble, the Commodity Futures Trading Commission amends part 17 CFR part 143 as follows: PART 143--COLLECTION OF CLAIMS OWED THE UNITED STATES ARISING FROM ACTIVITIES UNDER THE COMMISSION'S JURISDICTION 0 1. The authority citation for part 143 continues to read as follows: Authority: 7 U.S.C. 9, 15, 9a, 12a(5), 13a, 13a-1(d), 13(a), 13b; 31 U.S.C. 3701-3720E; 28 U.S.C. 2461 note. 0 2. Amend Sec. 143.8 as follows: 0 a. Revise paragraphs (a)(1)(ii) introductory text, (a)(2)(ii), (a)(3)(ii) introductory text, and (a)(4)(ii) introductory text; and 0 b. Add paragraphs (a)(1)(iii), (a)(2)(iii), (a)(3)(iii), and (a)(4)(iii). The revisions and additions read as follows: Sec. 143.8 Inflation-adjusted civil monetary penalties. (a) * * * (1) * * * (ii) In an administrative proceeding before the Commission or a civil action in Federal court initiated on August 1, 2016 through January 14, 2017: * * * * * (iii) In an administrative proceeding before the Commission or a civil action in Federal court initiated on or after January 15, 2017: (A) For manipulation or attempted manipulation violations, not more than the greater of $1,116,156 or triple the monetary gain to such person for each such violation; and (B) For all other violations, not more than the greater of $154,734 or triple the monetary gain to such person for each such violation; and (2) * * * (ii) In an administrative proceeding before the Commission or a civil action in Federal court initiated on August 1, 2016 through January 14, 2017, not more than the greater of $152,243 or triple the monetary gain to such person for each such violation; (iii) In an administrative proceeding before the Commission or a civil action in Federal court initiated on or after January 15, 2017, not more than the greater of $154,734 or triple the monetary gain to such person for each such violation; and (3) * * * (ii) In an administrative proceeding before the Commission or a civil action in Federal court initiated on August 1, 2016 through January 14, 2017: * * * * * (iii) In an administrative proceeding before the Commission or a civil action in Federal court initiated on or after January 15, 2017: (A) For manipulation or attempted manipulation violations, not more than the greater of $1,116,156 or triple the monetary gain to such person for each such violation; and (B) For all other violations, not more than the greater of $852,360 or triple the monetary gain to such person for each such violation; and (4) * * * (ii) In an administrative proceeding before the Commission or a civil action in Federal court initiated on August 1, 2016 through January 14, 2017: * * * * * (iii) In an administrative proceeding before the Commission or a civil action in Federal court initiated on or after January 15, 2017: (A) For manipulation or attempted manipulation violations, not more than the greater of $1,116,156 or triple the monetary gain to such person for each such violation; and (B) For all other violations, not more than the greater of $170,472 or triple the monetary gain to such person for each such violation. * * * * * Issued in Washington, DC, on January 6, 2017, by the Commission. Robert N. Sidman, Deputy Secretary of the Commission. Note: The following appendix will not appear in the Code of Federal Regulations. Appendix to Adjustment of Civil Monetary Penalties for Inflation-- 2017--Commission Voting Summary On this matter, Chairman Massad and Commissioners Bowen and Giancarlo voted in the affirmative. No Commissioner voted in the negative. [FR Doc. 2017-00488 Filed 1-19-17; 8:45 am] BILLING CODE 6351-01-P
![7644 Federal Register / Vol. 82, No. 13 / Monday, January 23, 2017 / Rules and Regulations
the nearest multiple of one dollar.17 October 2016 CPI–U (241.729)/October the multiplier, 1.01636, and round to
Annual inflation adjustments are based 2015 CPI–U (237.838) = 1.01636.19 In the nearest dollar.
on the percent change between the order to complete the 2017 annual B. Civil Monetary Penalty Adjustments
October Consumer Price Index for all adjustment, the CFTC must multiply
Urban Consumers (CPI–U) preceding the each of its most recent CMP amounts by Applying the FCPIAA annual
date of the adjustment, and the prior inflation adjustment methodology
year’s October CPI–U.18 In this case, results in the following amended CMPs:
Current 2017 Annual
inflation inflation
Citation Description adjusted adjusted
CMP amount CMP amount
Section 6(c) of the CEA, 7 U.S.C. 9 Prohibition Regarding Manipulation and False Information [Other Viola- $152,243 $154,734
tion (Non-Manipulation)].
Section 6(c) of the CEA, 7 U.S.C. 9 Prohibition Regarding Manipulation and False Information [Manipulation 1,098,190 1,116,156
or Attempted Manipulation].
Section 6(d) of the CEA, 7 U.S.C. Manipulations or Other Violations; Cease and Desist Orders Against 152,243 154,734
13b. Persons Other Than Registered Entities; Punishment; Misdemeanor
or Felony; Separate Offenses.
Section 6b of the CEA, 7 U.S.C. Nonenforcement of Rules of Government or Other Violations; Cease 838,640 852,360
13a. and Desist Orders; Fines and Penalties; Imprisonment; Misdemeanor;
Separate Offenses [Other Violation (Non-Manipulation)].
Section 6b of the CEA, 7 U.S.C. Nonenforcement of Rules of Government or Other Violations; Cease 1,098,190 1,116,156
13a. and Desist Orders; Fines and Penalties; Imprisonment; Misdemeanor;
Separate Offenses [Manipulation or Attempted Manipulation].
Section 6c of the CEA, 7 U.S.C. Enjoining or Restraining Violations [Other Violation (Non-Manipulation)] 167,728 170,472
13a–1.
Section 6c of the CEA, 7 U.S.C. Enjoining or Restraining Violations [Manipulation or Attempted Manipu- 1,098,190 1,116,156
13a–1. lation].
The FCPIAA provides that any certain of their rules on small D. Consideration of Costs and Benefits
increase under [the FCPIAA] in a civil businesses. A regulatory flexibility Section 15(a) of the CEA 24 requires
monetary penalty shall apply only to analysis is only required for rules for the Commission to consider the costs
civil monetary penalties, including which the agency publishes a general and benefits of its action before issuing
those whose associated violation notice of proposed rulemaking pursuant a new regulation. Section 15(a) further
predated such increase, which are to section 553(b) or any other law. specifies that costs and benefits shall be
assessed after the date the increase takes Because the Commission is not evaluated in light of five broad areas of
effect.20 Thus, the new CMP amounts obligated by section 553(b) or any other market and public concern: (1)
established by this rulemaking may be law to publish a general notice of Protection of market participants and
applied only in Commission proposed rulemaking with respect to the the public; (2) efficiency,
administrative or civil injunctive revisions being made to regulation competitiveness, and financial integrity
enforcement proceedings that are 143.8, the Commission additionally is of futures markets; (3) price discovery;
initiated on or after the effective date of (4) sound risk management practices;
not obligated to conduct a regulatory
this amendment, January 15, 2017. and (5) other public interest
flexibility analysis.
IV. Administrative Compliance considerations.
C. Paperwork Reduction Act The Commission believes that
A. Notice Requirement benefits of this rulemaking greatly
The Paperwork Reduction Act of 1995 outweigh the costs, if any. As the
The notice and comment procedures
(PRA),23 which imposes certain Commission understands, the statutory
of 5 U.S.C. 553 do not apply to this
rulemaking because the Commission is requirements on Federal agencies, provisions by which it is making cost-
acting herein pursuant to statutory including the Commission, in of-living adjustments to the CMPs in
language which mandates that the connection with their conducting or regulation 143.8 were enacted to ensure
Commission act in a nondiscretionary sponsoring any collection of that CMPs do not lose their deterrence
matter. Lake Carriers’ Ass’n v. E.P.A., information as defined by the PRA, does value because of inflation. An analysis
652 F.3d 1, 10 (D.C. Cir. 2011).21 not apply to this rule. This rule of the costs and benefits of these
amendment does not contain adjustments were made before
B. Regulatory Flexibility Act information collection requirements that enactment of the statutory provisions
The Regulatory Flexibility Act 22 require the approval of the Office of under which the Commission is
requires agencies with rulemaking Management and Budget. operating, and limit the discretion of the
authority to consider the impact of Commission to the extent that there are
mstockstill on DSK3G9T082PROD with RULES
17 FCPIAA Sections 4 and 5. check the box for ‘‘U.S. All items, 1982–84 = opportunities for public participation, but excludes
18 FCPIAA Section 5(b)(1). 100¥CUUR0000SA0’’, and click the ‘‘Retrieve rules of agency practice, such as those found in part
19 The CPI–U is published by the Department of data’’ button. 143 of the Commission’s regulations, and in
20 FCPIAA Section 6.
Labor. Interested parties may find the relevant particular rule 143.8 being revised herein.
Consumer Price Index on the Internet. To access 21 The Commission has determined that the
22 5 U.S.C. 601–612.
this information, go to the Consumer Price Index amendment to rule 143.8 is exempt from the 23 44 U.S.C. 3507(d).
Home Page at: http://www.bls.gov/cpi/. Under the provisions of the Administrative Procedure Act, 5
24 7 U.S.C. 19(a).
‘‘CPI Databases’’ heading, select ‘‘All Urban U.S.C. 553, which generally require notice of
Consumers (Current Series)’’, ‘‘Top Picks.’’ Then proposed rulemaking and provide other
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![Federal Register / Vol. 82, No. 13 / Monday, January 23, 2017 / Rules and Regulations 7645
no regulatory choices the Commission monetary gain to such person for each SECURITIES AND EXCHANGE
could make that would supersede the such violation; and COMMISSION
pre-enactment analysis with respect to (3) * * *
the five factors enumerated in section 17 CFR Part 232
15(a), or any other factors. (ii) In an administrative proceeding
before the Commission or a civil action [Release Nos. 33–10265; 34–79519; 39–
List of Subjects in 17 CFR Part 143 2513; IC–32387]
in Federal court initiated on August 1,
Civil monetary penalties, Claims. 2016 through January 14, 2017: Adoption of Updated EDGAR Filer
For the reasons stated in the * * * * * Manual
preamble, the Commodity Futures (iii) In an administrative proceeding
Trading Commission amends part 17 AGENCY: Securities and Exchange
before the Commission or a civil action Commission.
CFR part 143 as follows: in Federal court initiated on or after ACTION: Final rule.
PART 143—COLLECTION OF CLAIMS January 15, 2017:
OWED THE UNITED STATES ARISING (A) For manipulation or attempted SUMMARY: The Securities and Exchange
FROM ACTIVITIES UNDER THE manipulation violations, not more than Commission (the Commission) is
COMMISSION’S JURISDICTION the greater of $1,116,156 or triple the adopting revisions to the Electronic Data
monetary gain to such person for each Gathering, Analysis, and Retrieval
■ 1. The authority citation for part 143 such violation; and System (EDGAR) Filer Manual and
continues to read as follows: related rules to reflect updates to the
(B) For all other violations, not more EDGAR system. The updates are being
Authority: 7 U.S.C. 9, 15, 9a, 12a(5), 13a, than the greater of $852,360 or triple the
13a–1(d), 13(a), 13b; 31 U.S.C. 3701–3720E; made primarily to support the
28 U.S.C. 2461 note.
monetary gain to such person for each submission of Municipal Advisor
such violation; and submission form types. The EDGAR
■ 2. Amend § 143.8 as follows: system is scheduled to be upgraded to
(4) * * *
■ a. Revise paragraphs (a)(1)(ii) support the other functionalities on
introductory text, (a)(2)(ii), (a)(3)(ii) (ii) In an administrative proceeding
December 12, 2016.
introductory text, and (a)(4)(ii) before the Commission or a civil action
in Federal court initiated on August 1, DATES: Effective January 23, 2017. The
introductory text; and
■ b. Add paragraphs (a)(1)(iii), (a)(2)(iii), 2016 through January 14, 2017: incorporation by reference of the
(a)(3)(iii), and (a)(4)(iii). EDGAR Filer Manual is approved by the
* * * * * Director of the Federal Register as of
The revisions and additions read as
(iii) In an administrative proceeding January 23, 2017.
follows:
before the Commission or a civil action FOR FURTHER INFORMATION CONTACT: In
§ 143.8 Inflation-adjusted civil monetary in Federal court initiated on or after the Division of Corporation Finance, for
penalties. January 15, 2017: questions concerning Form ABS–EE and
(a) * * * (A) For manipulation or attempted Regulation A submission form types,
(1) * * * manipulation violations, not more than contact Vik Sheth at (202) 551–3818; in
(ii) In an administrative proceeding the greater of $1,116,156 or triple the the Division of Trading and Markets, for
before the Commission or a civil action monetary gain to such person for each questions concerning Form MA and
in Federal court initiated on August 1, such violation; and Form 17–H, contact Kathy Bateman at
2016 through January 14, 2017: (202) 551–4345; and in the Division of
(B) For all other violations, not more Economic and Risk Analysis, for
* * * * *
(iii) In an administrative proceeding than the greater of $170,472 or triple the questions concerning eXtensible
before the Commission or a civil action monetary gain to such person for each Business Reporting Language (XBRL)
in Federal court initiated on or after such violation. submissions; contact Walter Hamscher
January 15, 2017: * * * * * at (202) 551–5397.
(A) For manipulation or attempted Issued in Washington, DC, on January 6, SUPPLEMENTARY INFORMATION: We are
manipulation violations, not more than 2017, by the Commission. adopting an updated EDGAR Filer
the greater of $1,116,156 or triple the Manual, Volume I and Volume II. The
Robert N. Sidman,
monetary gain to such person for each Filer Manual describes the technical
such violation; and Deputy Secretary of the Commission.
formatting requirements for the
(B) For all other violations, not more Note: The following appendix will not preparation and submission of
than the greater of $154,734 or triple the appear in the Code of Federal Regulations. electronic filings through the EDGAR
monetary gain to such person for each system.1 It also describes the
such violation; and Appendix to Adjustment of Civil requirements for filing using
(2) * * * Monetary Penalties for Inflation— EDGARLink Online and the Online
(ii) In an administrative proceeding 2017—Commission Voting Summary Forms/XML Web site.
before the Commission or a civil action The revisions to the Filer Manual
in Federal court initiated on August 1, On this matter, Chairman Massad and reflect changes within Volume I entitled
2016 through January 14, 2017, not Commissioners Bowen and Giancarlo voted EDGAR Filer Manual, Volume I:
more than the greater of $152,243 or in the affirmative. No Commissioner voted in ‘‘General Information,’’ Version 25
mstockstill on DSK3G9T082PROD with RULES
triple the monetary gain to such person the negative. (December 2016), and Volume II entitled
for each such violation; [FR Doc. 2017–00488 Filed 1–19–17; 8:45 am]
(iii) In an administrative proceeding BILLING CODE 6351–01–P 1 We originally adopted the Filer Manual on April
before the Commission or a civil action 1, 1993, with an effective date of April 26, 1993.
Release No. 33–6986 (April 1, 1993) [58 FR 18638].
in Federal court initiated on or after We implemented the most recent update to the Filer
January 15, 2017, not more than the Manual on September 19, 2016. See Release No. 33–
greater of $154,734 or triple the 10217 (September 30, 2016) [81 FR 67118].
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Document Created: 2017-01-20 01:29:32
Document Modified: 2017-01-20 01:29:32
| 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 | Interim final rule. | |
| Dates | Effective Date: This interim final rule is effective January 23, 2017. | |
| Contact | Edward J. Riccobene, Associate Chief Counsel, Division of Enforcement, at (202) 418-5327 or [email protected], Commodity Futures Trading Commission, 1155 21st Street NW., Washington, DC 20581. | |
| FR Citation | 82 FR 7643 | |
| RIN Number | 3038-AE51 | |
| CFR Associated | Civil Monetary Penalties and Claims |
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