[Federal Register Volume 61, Number 215 (Tuesday, November 5, 1996)]
[Rules and Regulations]
[Pages 56891-56892]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-28386]


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SECURITIES AND EXCHANGE COMMISSION

17 CFR Part 200

[Release No. 34-37893]


Delegation of Authority to the General Counsel

AGENCY: Securities and Exchange Commission.

ACTION: Final rule.

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SUMMARY: The Securities and Exchange Commission is amending its rules 
to delegate authority to the General Counsel to refer matters and 
information concerning possible professional misconduct to state bar 
associations and other state professional boards or societies.

EFFECTIVE DATE: November 5, 1996.

FOR FURTHER INFORMATION CONTACT: Barbara B. Hannigan, Ethics Counsel, 
at 942-0970.

SUPPLEMENTARY INFORMATION: The Securities and Exchange Commission 
(``Commission'') today announced amendments to its rules governing 
delegation of authority to the General Counsel.
    The amendment to Rule 30-14 1 authorizes the General Counsel 
to refer matters and information concerning possible professional 
misconduct to state bar associations and other state professional 
boards or societies.
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    \1\ 17 CFR 200.30-14.
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    Notwithstanding this delegation of authority, in instances where a 
referral of possible professional misconduct presents any unusual or 
noteworthy issues, the delegation would not be exercised and the matter 
would be submitted to the Commission.
    The Commission finds, in accordance with Section 553(b)(3)(A) of 
the Administrative Procedure Act,2 that this amendment relates 
solely to agency organization, procedure, or practice, and does not 
relate to a substantive rule. Accordingly, notice and opportunity for 
public comment are unnecessary, and publication of the amendment 30 
days before its effective date is also unnecessary.
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    \2\ 5 U.S.C. 553(b)(3)(A).
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List of Subjects in 17 CFR Part 200

    Administrative practice and procedure, Authority delegations 
(Government agencies).

Text of Amendment

    For the reasons set out in the preamble, Title 17, Chapter II of 
the Code of Federal Regulations is amended as follows:

[[Page 56892]]

PART 200--ORGANIZATION; CONDUCT AND ETHICS; AND INFORMATION AND 
REQUESTS

    1. The authority citation for Part 200 continues to read in part as 
follows:

    Authority: 15 U.S.C. 77s, 78d-1, 78d-2, 78w, 78ll(d), 79t, 
77sss, 80a-37, 80b-11, unless otherwise noted.
* * * * *
    2. Section 200.30-14 is amended by adding paragraph (k) to read as 
follows:


Sec. 200.30-14  Delegation of authority to the General Counsel.

* * * * *
    (k) To refer matters and information concerning possible 
professional misconduct to state bar associations and other state 
professional boards or societies.

    Dated: October 30, 1996.

    By the Commission.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 96-28386 Filed 11-4-96; 8:45 am]
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