[Federal Register Volume 67, Number 131 (Tuesday, July 9, 2002)]
[Rules and Regulations]
[Pages 45299-45300]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-17179]


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COMMODITY FUTURES TRADING COMMISSION

17 CFR Part 140


Delegations of Authority

AGENCY: Commodity Futures Trading Commission.

ACTION: Final rule.

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SUMMARY: The Commission is adopting a rule to re-delegate authority 
formerly delegated to the Directors of the Division of Trading and 
Markets and the Division of Economic Analysis, and their respective 
designees, to the respective Directors and their designees of two newly 
established operating divisions of the Commission: The Division of 
Market Oversight and the Division of Clearing and Intermediary 
Oversight. The reorganized divisions will more effectively implement 
the provisions of the Commodity Futures Modernization Act of 2000.

EFFECTIVE DATE: July 9, 2002.

FOR FURTHER INFORMATION CONTACT: Harold L. Hardman, Assistant General 
Counsel or Julian E. Hammar, Attorney, Office of General Counsel, 
Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st 
Street, NW., Washington, DC 20581. Telephone: 202-418-5120. E-mail: 
([email protected]) or ([email protected]).

SUPPLEMENTARY INFORMATION:

I. Delegations

    Congress passed and the President signed into law the Commodity 
Futures Modernization Act of 2000 (``CFMA''), amending the Commodity 
Exchange Act.\1\ In order to more effectively implement its provisions, 
the Commission has reorganized its operating divisions. Under the 
reorganization plan, the Division of Trading and Markets and the 
Division of Economic Analysis have been reconfigured into two new 
divisions: The Division of Market Oversight and the Division of 
Clearing and Intermediary Oversight.
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    \1\ The Commodity Exchange Act may be found at 7 U.S.C. 1 et 
seq. (2000) as amended by the Commodity Futures Modernization Act of 
2000, Appendix E of Pub. L. 106-554, 114 Stat. 2763 (2000).
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    The Commission's rules in Chapter I of Title 17 of the Code of 
Federal Regulations contain numerous specific delegations of authority 
from the Commission to the Directors of the Division of Trading and 
Markets and/or the Division of Economic Analysis, and their respective 
designees. The Commission effective immediately is adopting new rule 
140.100, which provides that all delegations of authority from the 
Commission to the Directors of the Division of Trading and Markets and/
or the Division of Economic Analysis, and their respective designees, 
as currently set forth in Chapter I of Title 17 of the Code of Federal 
Regulations, are delegated jointly to the respective Directors of the 
Division of Market Oversight and the Division of Clearing and 
Intermediary Oversight, and their respective designees.\2\ The 
conditions of, and limitations upon, the original delegations of 
authority remain unchanged.
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    \2\ Section 15 of the Commodity Exchange Act, as amended by the 
Commodity Futures Modernization Act of 2000, provides that before 
promulgating a regulation under this Act or issuing an order, the 
Commission shall consider the costs and benefits of the action of 
the Commission. This rule governs internal agency organization, 
procedure, and practice, and therefore the Commission finds that 
none of the considerations enumerated in Section 15(a)(2) of the 
Act, as amended, are applicable to this rule.
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II. Related Matters

Administrative Procedure Act

    The Commission has determined that this delegation of authority 
relates solely to agency organization, procedure and practice. 
Therefore, the provisions of the Administrative Procedure Act that 
generally require notice of proposed rulemaking and that provide other 
opportunities for public participation are not applicable.\3\ The 
Commission further finds that, because the rules have no adverse effect 
upon a member of the public, there is good cause to make them effective 
immediately upon publication in the Federal Register.
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    \3\ 5 U.S.C. 553 (1994).
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List of Subjects in 17 CFR Part 140

    Authority delegations (Government agencies), Organization and 
functions (Government agencies).
    In consideration of the foregoing and pursuant to the authority 
contained in the Commodity Exchange Act and in particular, sections 
2(a) and 8a,\4\ as amended by the Commodity Futures Modernization Act 
of 2000, appendix E of Public Law 106-554, 114 Stat. 2763 (2000), the 
Commission amends part 140 of title 17 of the Code of Federal 
Regulations as follows:
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    \4\ 7 U.S.C. 2(a) and 12a (2000).
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PART 140--ORGANIZATION, FUNCTIONS, AND PROCEDURES OF THE COMMISSION

    1. The authority citation for part 140 continues to read as 
follows:

    Authority: 7 U.S.C. 2 and 12a.

    2. Part 140 of 17 CFR is amended by adding new Sec. 140.100 to 
subpart B to read as follows:

[[Page 45300]]

Sec. 140.100  Delegations of authority.

    The Commission hereby re-delegates the delegations of authority 
made to the Directors of the Division of Trading and Markets and/or to 
the Division of Economic Analysis, and their respective designees, in 
all instances as they occur throughout this chapter, jointly to the 
respective Directors of the Division of Market Oversight and the 
Division of Clearing and Intermediary Oversight, and their respective 
designees.

    Issued in Washington, DC, on July 2, 2002, by the Commission.
Jean A. Webb,
Secretary of the Commission.
[FR Doc. 02-17179 Filed 7-8-02; 8:45 am]
BILLING CODE 6351-01-M