[Federal Register Volume 69, Number 106 (Wednesday, June 2, 2004)]
[Notices]
[Page 31095]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-12364]


=======================================================================
-----------------------------------------------------------------------

COMMODITY FUTURES TRADING COMMISSION


Futures Market Self-Regulation

AGENCY: Commodity Futures Trading Commission.

ACTION: Reopening comment period.

-----------------------------------------------------------------------

SUMMARY: The Commodity Futures Trading Commission (``Commission'') is 
reopening the comment period for interested parties to comment on 
proposed amendments to a 1984 agreement (``Joint Audit Agreement'') 
allocating certain audit and other financial surveillance 
responsibilities among designated self-regulatory organizations 
(``DSROs''). The proposed amendments were submitted for Commission 
approval, and published for comment in accordance with Commission 
Regulation 1.52(g) and in conjunction with the Commission's ongoing 
review of the self-regulatory system for futures markets.

DATES: Written comments must be received on or before June 18, 2004.

ADDRESSES: Interested persons should submit their views and comments to 
Jean A. Webb, Secretary, Commodity Futures Trading Commission, Three 
Lafayette Centre, 1155 21st Street, NW., Washington, DC 20581. In 
addition, comments may be sent by facsimile transmission to (202) 418-
5521, or by electronic mail to [email protected]. Reference should be 
made to ``Futures Market Self-Regulation''. This document also will be 
available for comment at http://www.regulations.gov.''

FOR FURTHER INFORMATION CONTACT: Thomas J. Smith, Associate Deputy 
Director and Chief Accountant, or Natalie A. Markman, Senior Special 
Counsel, Division of Clearing and Intermediary Oversight, Commodity 
Futures Trading Commission, Three Lafayette Centre, 1155 21st Street, 
NW., Washington, DC 20581. Telephone (202) 418-5450.

SUPPLEMENTARY INFORMATION: On April 12, 2004, the Commission published 
a notice for request for comment on proposed amendments to the Joint 
Audit Agreement.\1\ The proposed amendments would revise the terms of 
an agreement entered into by several self-regulatory organizations 
(``SROs'') in 1984 to allocate some of the supervisory responsibilities 
that each SRO bears for its member futures commission merchants 
(``FCMs''). Such supervisory responsibilities are imposed on SROs by 
various Core Principles of the Commodity Exchange Act (the ``Act''),\2\ 
as amended by the Commodity Futures Modernization Act of 2000.\3\ In 
order to avoid duplicative supervisory burdens upon FCMs that are 
members of more than one SRO, the Commission permits SROs to enter into 
voluntary, cooperative agreements to allocate some of their 
responsibilities among themselves so that each FCM has a single DSRO.
---------------------------------------------------------------------------

    \1\ 69 FR 19166 (Apr. 12, 2004).
    \2\ 7 U.S.C. 1 et seq. (2000).
    \3\ See Pub. L. 106-554, 114 Stat. 2763 (Dec. 21, 2000).
---------------------------------------------------------------------------

    The Commission established a 45-day period for submitting public 
comment on the proposed amendments to the Joint Audit Agreement, ending 
May 27, 2004. By letter dated May 18, 2004, an association of futures 
industry participants requested an extension of the original comment 
period. In support of the request, the commenter observed that the 
Commission soon would be publishing another request for comment 
concerning the governance of SROs, and that industry participants would 
benefit from an opportunity to review and consider such request for 
comment for purposes of providing comment on the proposed amendments to 
the Joint Audit Agreement.
    In response to this request and in order to ensure that an adequate 
opportunity is provided for submission of meaningful comments, the 
Commission has determined to reopen the comment period on the proposed 
amendments to the Joint Audit Agreement until June 18, 2004.

    Issued in Washington, DC, on May 26, 2004 by the Commission.
Jean A. Webb,
Secretary of the Commission.
[FR Doc. 04-12364 Filed 6-1-04; 8:45 am]
BILLING CODE 6351-01-M