[Federal Register Volume 69, Number 133 (Tuesday, July 13, 2004)]
[Rules and Regulations]
[Pages 41936-41938]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-15782]


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SECURITIES AND EXCHANGE COMMISSION

17 CFR Part 200

[Release Nos. 34-49973, IC-26493]


Delegations of Authority to the Director of the Division of 
Market Regulation, the Director of the Division of Investment 
Management and the Director of the Office of Compliance Inspections and 
Examinations

AGENCY: Securities and Exchange Commission.

ACTION: Final rule.

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SUMMARY: The Securities and Exchange Commission (``Commission'') is 
amending its rules to delegate authority to the Director of the 
Division of Market Regulation and the Director of the Division of 
Investment Management to consult, and, where applicable, to the 
Director of the Office of Compliance Inspections and Examinations to 
notify and consult on behalf of the Commission pursuant to section 
18(t)(1) of the Federal Deposit Insurance Act, sections 5318A(a)(4), 
5318A(e)(2), and 5318(h)(2) of the Bank Secrecy Act, and the provisions 
of the Uniting and Strengthening America by Providing Appropriate Tools 
Required to Intercept and Obstruct Terrorism Act of 2001 requiring 
consultation with the Commission. The Commission is further amending 
its rules to delegate authority to the Director of the Office of 
Compliance Inspections and Examinations to notify and consult on behalf 
of the Commission pursuant to section 17(b)(1)(B) of the Securities 
Exchange Act of 1934.

DATES: Effective Date: July 13, 2004.

FOR FURTHER INFORMATION CONTACT: For information regarding the 
delegation of authority to the Director of the Division of Market 
Regulation, contact Brian Bussey, Assistant Chief Counsel, or David 
Blass, Attorney, at (202) 942-0073, Office of Chief Counsel, Division 
of Market Regulation, Securities and Exchange Commission, 450 Fifth 
Street, NW., Washington, DC 20549-1001. For

[[Page 41937]]

information regarding the delegation of authority to the Director of 
the Division of Investment Management, contact Hunter Jones, Associate 
Director, or Robert Kim, Attorney, at (202) 942-0690, Office of 
Regulatory Policy, Division of Investment Management, Securities and 
Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549-0506. 
For information regarding the delegation of authority to the Director 
of the Office of Compliance Inspections and Examinations, contact John 
Walsh, Chief Counsel, at (202) 942-7400, Office of the Chief Counsel, 
Office of Compliance Inspections and Examinations, 901 E Street, NW., 
Washington, DC 20549-0001.

SUPPLEMENTARY INFORMATION: Section 18(t)(1) of the Federal Deposit 
Insurance Act,\1\ sections 5318A(a)(4), 5318A(e)(2) and 5318(h)(2) of 
the Bank Secrecy Act \2\ (``Bank Secrecy Act''), and the Uniting and 
Strengthening America by Providing Appropriate Tools Required to 
Intercept and Obstruct Terrorism Act of 2001\3\ (the ``USA PATRIOT 
Act'') require consultation between the Commission and various other 
agencies of the Federal government. Section 17(b)(1)(B) of the 
Securities Exchange Act of 1934\4\ (``Exchange Act'') requires the 
Commission to give notice and deliver other information to the 
Commodity Futures Trading Commission.
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    \1\ 12 U.S.C. 1828(t)(1).
    \2\ Pub. L. 91-508, as amended, codified at 12 U.S.C. 1829b, 12 
U.S.C. 1951-1959, and 31 U.S.C. 5311-5314; 5316-5332.
    \3\ Pub. L. 107-56 (2001), 115 Stat. 272.
    \4\ 15 U.S.C. 78q(b)(1)(B) (as added by section 204 of the 
Commodity Futures Modernization Act of 2000, Pub. L. 106-554 
(2000)).
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    The Commission is adopting amendments to Rule 30-3 \5\ of its Rules 
of Organization and Program Management governing delegations of 
authority to the Director of the Division of Market Regulation, Rule 
30-5 \6\ governing delegations of authority to the Director of the 
Division of Investment Management, and Rule 30-18 \7\ governing 
delegations of authority to the Director of the Office of Compliance 
Inspections and Examinations.
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    \5\ 17 CFR 200.30-3.
    \6\ 17 CFR 200.30-5.
    \7\ 17 CFR 200.30-18.
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    The Commission is amending Rule 30-3 to redesignate paragraph (g) 
as paragraph (j), and add new paragraphs (g), (h) and (i) to authorize 
the Director of the Division of Market Regulation to consult on behalf 
of the Commission with other agencies of the Federal government 
pursuant to section 18(t)(1) of the Federal Deposit Insurance Act, 
sections 5318A(a)(4), 5318A(e)(2) and 5318(h)(2) of the Bank Secrecy 
Act, and provisions of the USA PATRIOT Act requiring consultation with 
the Commission, with respect to matters that relate to the 
responsibilities of the Director of the Division of Market Regulation 
described in 17 CFR 200.19a.\8\ The Commission is amending Rule 30-5 to 
redesignate paragraphs (g), (h), (i), (j) and (k) as paragraphs (i), 
(j), (k), (l) and (m), and add new paragraphs (g) and (h) to authorize 
the Director of the Division of Investment Management to consult on 
behalf of the Commission with other agencies of the Federal government 
pursuant to sections 5318A(a)(4), 5318A(e)(2) and 5318(h)(2) of the 
Bank Secrecy Act and provisions of the USA PATRIOT Act requiring 
consultation with the Commission, with respect to matters that relate 
to the responsibilities of the Director of the Division of Investment 
Management described in 17 CFR 200.20b. The Commission is also amending 
paragraph (c) of Rule 30-18 to authorize the Director of the Office of 
Compliance Inspections and Examinations to notify and consult with the 
Commodity Futures Trading Commission pursuant to section 17(b)(1)(B) of 
the Exchange Act.
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    \8\ Pursuant to Rules 30-3(a)(75) and 30-3(a)(76), the 
Commission has delegated to the Director of the Division of Market 
Regulation the authority to publish notices of proposed rule changes 
filed pursuant to section 19(b)(7) of the Exchange Act relating to 
security futures products and to abrogate such proposed rule 
changes. That delegation includes the authority to consult on behalf 
of the Commission with the Commodity Futures Trading Commission on 
matters arising under section 19(b)(7) of the Exchange Act with 
regard to abrogating proposed rule changes.
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    This delegation of authority is intended to conserve Commission 
resources by permitting the Director of the Division of Market 
Regulation, the Director of the Division of Investment Management and 
the Director of the Office of Compliance Inspections and Examinations 
to fulfill the Commission's consultation and notice provision 
requirements. Nevertheless, the staff may submit matters to the 
Commission for consideration, as it deems appropriate.
    The Commission finds, in accordance with section 553(b)(3)(A) of 
the Administrative Procedures Act,\9\ that these amendments relate 
solely to agency organization, procedure or practice, and do not relate 
to a substantive rule. Accordingly, notice, opportunity for public 
comment and publication of the amendment prior to its effective date 
are unnecessary. Similarly, the requirements of the Regulatory 
Flexibility Act \10\ do not apply.
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    \9\ 5 U.S.C. 553(b)(3)(A).
    \10\ 5 U.S.C. 601 et seq.
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List of Subjects in 17 CFR Part 200

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

Text of Amendment

0
In accordance with the preamble, the Commission hereby amends Title 17, 
Chapter II of the Code of Federal Regulations as follows:

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

Subpart A--Organization and Program Management

0
1. The authority citation for Part 200, subpart A, continues to read, 
in part, as follows:

    Authority: 15 U.S.C. 77s, 77o, 77sss, 78d, 78d-1, 78d-2, 78w, 
78ll(d), 78mm, 79t, 80a-37, 80b-11, and 7202, unless otherwise 
noted.
* * * * *

0
2. Section 200.30-3 is amended by redesignating current paragraph (g) 
as paragraph (j), adding new paragraph (g) and adding paragraphs (h) 
and (i) to read as follows:


Sec.  200.30-3  Delegation of authority to Director of Division of 
Market Regulation.

* * * * *
    (g) To consult on behalf of the Commission pursuant to section 
18(t)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1828(t)(1)) 
with respect to matters described in Sec.  200.19a.
    (h) To consult on behalf of the Commission pursuant to sections 
5318A(a)(4), 5318A(e)(2) and 5318(h)(2) of the Bank Secrecy Act (31 
U.S.C. 5318A(a)(4), 5318A(e)(2) and 5318(h)(2)) with respect to matters 
described in Sec.  200.19a.
    (i) To consult on behalf of the Commission pursuant to the Uniting 
and Strengthening America by Providing Appropriate Tools Required to 
Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT Act), as 
amended (Pub. L. 107-56 (2001), 115 Stat. 272) with respect to matters 
described in Sec.  200.19a.
* * * * *

0
3. Section 200.30-5 is amended by redesignating current paragraphs (g), 
(h), (i), (j) and (k) as paragraphs (i), (j), (k), (l) and (m) 
respectively, and adding new paragraphs (g) and (h) to read as follows:

[[Page 41938]]

Sec.  200.30-5  Delegation of authority to Director of Division of 
Investment Management.

* * * * *
    (g) To consult on behalf of the Commission pursuant to sections 
5318A(a)(4), 5318A(e)(2) and 5318(h)(2) of the Bank Secrecy Act (31 
U.S.C. 5318A(a)(4), 5318A(e)(2) and 5318(h)(2)) with respect to matters 
described in Sec.  200.20b.
    (h) To consult on behalf of the Commission pursuant to the Uniting 
and Strengthening America by Providing Appropriate Tools Required to 
Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT Act), as 
amended (Pub. L. 107-56 (2001), 115 Stat. 272) with respect to matters 
described in Sec.  200.20b.
* * * * *

0
4. Section 200.30-18 is amended by redesignating the text of paragraph 
(c) as paragraph (c)(1) and adding paragraph (c)(2) to read as follows:


Sec.  200.30-18  Delegation of authority to Director of the Office of 
Compliance Inspections and Examinations.

* * * * *
    (c) * * *
    (2) Pursuant to section 17(b)(1)(B) of the Exchange Act (15 U.S.C. 
78q(b)(1)(B)), prior to any examination of a broker or dealer 
registered pursuant to section 6(g) of the Exchange Act (15 U.S.C. 
78f(g)) or a national securities association registered pursuant to 
section 15A(k) of the Exchange Act (15 U.S.C. 78o-3(k)), to notify and 
consult with the Commodity Futures Trading Commission regarding the 
feasibility and desirability of coordinating such examination with 
examinations conducted by the Commodity Futures Trading Commission in 
order to avoid unnecessary regulatory duplication or undue regulatory 
burdens.
* * * * *

    Dated: July 7, 2004.
    By the Commission.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 04-15782 Filed 7-12-04; 8:45 am]
BILLING CODE 8010-01-P