[Federal Register Volume 62, Number 74 (Thursday, April 17, 1997)]
[Rules and Regulations]
[Page 18705]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-9848]



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 Rules and Regulations
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  Federal Register / Vol. 62, No. 74 / Thursday, April 17, 1997 / Rules 
and Regulations  

[[Page 18705]]


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FEDERAL MINE SAFETY AND HEALTH REVIEW COMMISSION

29 CFR Part 2703


Employee Responsibilities and Conduct

AGENCY: Federal Mine Safety and Health Review Commission.

ACTION: Removal of rule.

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SUMMARY: The Federal Mine Safety and Health Review Commission is 
repealing its rule providing an employee exemption from application of 
the financial conflict of interest prohibition at 18 U.S.C. 208(a). The 
removal of this rule is in response to publication by the Office of 
Government Ethics (OGE) of a superseding, executive branch-wide rule 
that describes the circumstances under which the prohibitions contained 
in 18 U.S.C. 208(a) would be waived.

EFFECTIVE DATE: April 17, 1997.

FOR FURTHER INFORMATION CONTACT: Norman M. Gleichman, General Counsel, 
Office of the General Counsel, 1730 K Street, NW, 6th Floor, 
Washington, DC 20006; telephone: 202-653-5610 (202-566-2673 for TDD 
Relay). These are not toll-free numbers.

SUPPLEMENTARY INFORMATION:

I. Background

    Under the Commission's rule, codified at 29 CFR 2703.3, an 
employee's ownership of shares of stock, bonds, or other corporate 
securities and shares in a mutual fund, regulated fund, or regulated 
investment company was exempted from application of the financial 
conflict of interest prohibition at 18 U.S.C. 208(a) if the aggregate 
fair market value of such holdings did not exceed $5,000 in a single 
enterprise. On December 18, 1996, OGE published a final rule entitled 
``Interpretation, Exemptions and Waiver Guidance Concerning 18 U.S.C. 
208 (Acts Affecting a Personal Financial Interest),'' which superseded 
the Commission's rule. See 61 FR 66830-66851, Dec. 18, 1996, as 
corrected at 62 FR 1361, Jan. 9, 1997. OGE's new rule, codified at 5 
CFR Part 2640 and made effective January 17, 1997, describes the 
circumstances under which the prohibitions contained in 18 U.S.C. 
208(a) would be waived. The removal of 29 CFR 2703.3 does not affect 
the Commission's prohibited financial interests rule, codified at 5 CFR 
8401.102. See 61 FR 39869-39870, July 31, 1996.

II. Matters of Regulatory Procedure

    The Commission has determined that the removal of 29 CFR 2703.3 is 
not subject to Office of Management and Budget review under Executive 
Order 12866.
    The Commission has determined under the Regulatory Flexibility Act 
(5 U.S.C. 601-612) that the removal of 29 CFR 2703.3 would not have a 
significant economic impact on a substantial number of small entities. 
Therefore, a Regulatory Flexibility Statement and Analysis has not been 
prepared.
    The Commission has determined that the Paperwork Reduction Act (44 
U.S.C. 3501 et seq.) does not apply because the removal of 29 CFR 
2703.3 does not contain any information collection requirements that 
require the approval of the Office of Management and Budget.

List of Subjects in 29 CFR Part 2703

    Conflict of interests, Government employees.

    For the reasons set forth in the preamble, the Federal Mine Safety 
and Health Review Commission is amending title 29 of the Code of 
Federal Regulations as follows:

PART 2703--[AMENDED]

    1. The authority citation for part 2703 is revised to read as 
follows:

    Authority: 5 U.S.C. 7301; 5 CFR 2638.202.


Sec. 2703.3  [Removed]

    2. Section 2703.3 of 29 CFR is removed.

    Dated: April 10, 1997.
Mary Lu Jordan,
Chairman, Federal Mine Safety and Health Review Commission.
[FR Doc. 97-9848 Filed 4-16-97; 8:45 am]
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