[Federal Register Volume 75, Number 92 (Thursday, May 13, 2010)]
[Notices]
[Pages 27028-27029]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-11507]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 33-9123; File No. 265-26]
COMMODITY FUTURES TRADING COMMISSION
Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues
AGENCY: Securities and Exchange Commission (``SEC'') and Commodity
Futures Trading Commission (``CFTC'') (each, an ``Agency,'' and
collectively, ``Agencies'').
ACTION: Notice of Federal Advisory Committee Establishment.
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SUMMARY: The Chairmen of the SEC and CFTC, with the concurrence of the
other SEC and CFTC Commissioners, respectively, intend to establish the
Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues (the
``Committee'').
Comments
Because the Agencies will jointly review all comments submitted,
interested parties may send comments to either Agency and need not
submit responses to both Agencies. Respondents are encouraged to use
the title ``Joint CFTC-SEC Advisory Committee'' to facilitate the
organization and distribution of comments between the Agencies.
Interested parties are invited to submit responses to:
Securities and Exchange Commission: Written comments may be
submitted by the following methods:
Electronic Comments
Use the SEC's Internet submission form (http://www.sec.gov/rules/other.shtml); or
Send an email to [email protected].
Please include File No. 265-26 on the subject line.
Paper Comments
Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F St., NE.,
Washington, DC 20549. All submissions should refer to File No. 265-26.
To help the SEC process and review your comments more efficiently,
please use only one method. The SEC staff will post all comments on the
SEC's Internet Web site (http://www.sec.gov/rules/other.shtml).
Comments will also be available for Web site viewing and printing in
the SEC's Public Reference Room, 100 F St., NE., Washington, DC 20549,
on official business days between the hours of 10 a.m. and 3 p.m. All
comments received will be posted without change; we do not edit
personal identifying information from your submissions. You should
submit only information that you wish to make available publicly.
Commodity Futures Trading Commission:
Written comments may be mailed to the Commodity Futures
Trading Commission, Three Lafayette Centre, 1155 21st Street, NW.,
Washington, DC 20581, attention Office of the Secretary; transmitted by
facsimile to the CFTC at (202) 418-5521; or transmitted electronically
to [email protected]. Reference should be made to ``Joint CFTC-
SEC Advisory Committee.''
FOR FURTHER INFORMATION CONTACT: Ronesha Butler, Special Counsel, at
(202) 551-5629, Division of Trading and Markets, or Elizabeth M.
Murphy, Committee Management Officer, at (202) 551-5400, Securities and
Exchange Commission, 100 F St., NE., Washington, DC 20549, or Martin
White, Committee Management Officer, at (202) 418-5129, Commodity
Futures Trading Commission, Three Lafayette Centre, 1155 21st Street,
NW., Washington, DC 20581.
SUPPLEMENTARY INFORMATION: In accordance with the requirements of the
Federal Advisory Committee Act, 5 U.S.C. App. 2, the Agencies are
publishing this notice that the Chairmen of the SEC and CFTC, with the
concurrence of the other SEC and CFTC Commissioners, intend to
establish the Committee. The Committee's objectives and scope of
activities are to conduct public meetings, submit reports and
recommendations to the CFTC and the SEC and otherwise to serve as a
vehicle for discussion and communication on regulatory issues of mutual
concern and their effect on the CFTC's and SEC's statutory
responsibilities. Subjects to be addressed by the Committee will
include, but will not be limited to, identification of emerging
regulatory risks, assessment and quantification of the impact of such
risks and their implications for investors and market participants, and
to further the Agencies' efforts on regulatory harmonization. The
committee will work to develop clear and specific goals toward
identifying and addressing emerging regulatory risks, protecting
investors and customers, and furthering regulatory harmonization, and
to recommend processes and procedures for achieving and reporting on
those goals.
To achieve the Committee's goals, the Chairmen of the SEC and CFTC
will appoint approximately 10-15 members. There will be two co-
designated Federal officers of the committee. The Chairman of the CFTC
will appoint a CFTC employee to serve as one co-designated federal
officer of the committee and the Chairman of the SEC will appoint an
SEC employee to serve as the other co-designated Federal officer of the
committee. The co-designated federal officers jointly call all of the
advisory committee's and subcommittees' meetings, prepare and jointly
approve all meeting agendas, adjourn any meeting when they jointly
determine adjournment to be in the public interest, and chair meetings
when directed to do so. The co-designated Federal officers also will
attend all committee and subcommittee meetings. The Chairmen of the
CFTC and of the SEC shall serve as Co-Chairmen of the Committee. The
Committee's membership will be fairly balanced in terms of points of
view represented and the functions to be performed.
The Committee's charter will be filed with the Senate Committee on
Agriculture, Nutrition and Forestry; the House of Representatives
Committee on Agriculture; the Senate Committee on Banking, Housing, and
Urban Affairs; the House Committee on Financial Services, and U.S.
General Services Administration Committee Management Secretariat
(``Secretariat''). A copy of the charter also will be filed with the
SEC, CFTC and the Library of Congress. The charter will be available
for Web site viewing and printing in the Public Reference Room at the
SEC's headquarters and posted on the SEC's Web site at http://www.sec.gov and the CFTC's Web site at http://www.cftc.gov.
The Committee will operate for two years from the date it is
established unless, before the expiration of that time period, its
charter is re-established or renewed in accordance with the Federal
Advisory Committee Act or unless either the Chairman of the SEC or the
Chairman of the CFTC determines that the Committee's continuance is no
longer in the public interest.
The Committee will meet at such intervals as are necessary to carry
out its functions. It is estimated that the meetings will occur six
times per year. Meetings of subgroups or subcommittees of the full
Committee may occur more frequently.
The charter will provide that the duties of the Committee are to be
solely
[[Page 27029]]
advisory. Each Agency alone will make any determinations of action to
be taken and policy to be expressed with respect to matters within
their respective authority as to which the Committee provides advice or
makes recommendations.
The Chairmen of the Agencies affirm that the establishment of the
Committee is necessary and in the public interest.
Pursuant to 41 CFR 102-3.65(b), the Secretariat has found good
cause for approving the establishment of this advisory committee prior
to the fifteenth day after publication of notice of establishment in
the Federal Register so that the Committee members can quickly begin to
identify emerging regulatory issues and their potential impact on
investors and the securities markets. The Committee will lend the CFTC
and SEC expertise that ranges across the securities and futures
markets.
By the Securities and Exchange Commission.
Dated: May 10, 2010.
Elizabeth M. Murphy,
Committee Management Officer.
By the Commodity Futures Trading Commission.
Martin White,
Committee Management Officer.
[FR Doc. 2010-11507 Filed 5-12-10; 8:45 am]
BILLING CODE 8010-01-P; 6351-01-P