[Federal Register Volume 76, Number 129 (Wednesday, July 6, 2011)]
[Rules and Regulations]
[Pages 39260-39261]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-16065]


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DEPARTMENT OF COMMERCE

Bureau of Economic Analysis

15 CFR Part 806

[Docket No. 110321207-1206-01]
RIN 0691-AA78


Direct Investment Surveys: Alignment of Regulations With Current 
Practices

AGENCY: Bureau of Economic Analysis, Commerce.

ACTION: Final rule.

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SUMMARY: This final rule amends regulations of the Bureau of Economic 
Analysis (BEA) related to direct investment surveys. Specifically, BEA 
is eliminating reporting requirements for several direct investment 
surveys that are no longer necessary because the information is 
collected on other surveys of direct investment conducted by BEA. The 
surveys that are eliminated from the regulations are: A survey of 
foreign direct investment in the U.S. seafood industry, two schedules 
of expenditures for property, plant, and equipment of U.S. direct 
investment abroad, and two industry classification questionnaires. In 
addition, BEA is eliminating the reporting requirements for two surveys 
of new foreign direct investment in the United States. BEA suspended 
collection of these surveys in 2009 in order to align its international 
survey program with available resources. BEA is also making other minor 
revisions to its regulations to eliminate outdated information.

DATES: This final rule will be effective August 5, 2011.

FOR FURTHER INFORMATION CONTACT: David H. Galler, Chief, Direct 
Investment Division (BE-50), Bureau of Economic Analysis, U.S. 
Department of Commerce, Washington, DC 20230; e-mail 
[email protected] or phone (202) 606-9835.

SUPPLEMENTARY INFORMATION: On April 7, 2011, BEA published a notice of 
proposed rulemaking to align its regulations for direct investment 
surveys with current practices. No comments on the proposed rule were 
received. Thus the proposed rule is adopted without change. This final 
rule amends 15 CFR Part 806 by revising Sec. Sec.  806.14, 806.15, and 
806.18 to remove the reporting requirements for several direct 
investment surveys. The surveys are:

BE-13, Initial Report on a Foreign Person's Direct or Indirect 
Acquisition, Establishment, or Purchase of the Operating Assets, of a 
U.S. Business Enterprise, Including Real Estate
BE-14, Report by a U.S. Person Who Assists or Intervenes in the 
Acquisition of a U.S. Business Enterprise by, or Who Enters into a 
Joint Venture With, a Foreign Person
BE-21, Survey of Foreign Direct Investment in U.S. Business Enterprises 
Engaged in the Processing, Packaging, or Wholesale Distribution of Fish 
or Seafoods
BE-133B, Follow-up Schedule of Expenditures for Property, Plant, and 
Equipment of U.S. Direct Investment Abroad
BE-133C, Schedule of Expenditures for Property, Plant, and Equipment of 
U.S. Direct Investment Abroad
BE-507, Industry Classification Questionnaire
BE-607, Industry Classification Questionnaire

    BEA is removing the reporting requirements for the BE-13 and the 
BE-14 surveys which were suspended in 2009 in order to align its 
international survey program with available resources. The surveys had 
been used to collect identification information on the U.S. business 
being established or acquired and on the new foreign owner, information 
on the cost of the investment and source of funding, and limited 
financial and operating data for the newly established or acquired 
entity. The data had been used to measure the amount of new foreign 
direct investment in the United States and assess its impact on the 
U.S. economy. BEA continues to identify newly acquired or established 
U.S. affiliates of foreign investors and bring them into its 
international survey program through the BE-12, BE-15, and BE-605 
surveys, which are the benchmark, annual, and quarterly surveys of 
foreign direct investment in the United States, respectively, but they 
are not separately identified in BEA's published statistics.
    BEA is eliminating the regulations for the BE-21, BE-133B, BE-133C, 
BE-507, and BE-607 surveys since they have not been conducted in many 
years and are no longer necessary because the information is collected 
on other surveys of direct investment conducted by BEA.
    In addition, BEA is making other minor revisions to its regulations 
to eliminate outdated information. These revisions eliminate references 
to outdated information regarding BE-10 survey forms and inactive OMB 
control numbers.

Executive Order 12866

    This final rule has been determined to be not significant for 
purposes of E.O. 12866.

Executive Order 13132

    This final rule does not contain policies with Federalism 
implications as that term is defined in E.O. 13132.

Paperwork Reduction Act

    The Office of Management and Budget (OMB) approvals under the 
Paperwork Reduction Act for the seven surveys that BEA is eliminating 
have expired. The information collection approval for the BE-13 and BE-
14 (under OMB control number 0608-0035) expired on August 31, 2009; the 
BE-21 approval (OMB control number 0608-0050) expired September 30, 
1983; the BE-133B and BE-133C (OMB control number 0608-0024) expired 
December 31, 1994; the BE-507 approval (OMB control number 0608-0032) 
expired April 30, 1997; and the BE-607 approval (OMB control number 
0608-0030) expired on May 31, 1991.

Regulatory Flexibility Act

    The Chief Counsel for Regulation, Department of Commerce, has 
certified to the Chief Counsel for Advocacy, Small Business 
Administration, under the provisions of the Regulatory Flexibility Act 
(5 U.S.C. 605(b)), that this final rule will not have a significant 
economic impact on a substantial number of small entities. The factual 
basis for the certification was published in the proposed rule and is 
not repeated here. No comments were received regarding the 
certification or the economic impact of the rule more

[[Page 39261]]

generally. No final regulatory flexibility analysis was prepared.

List of Subjects in 15 CFR Part 806

    Economic statistics, Foreign investment in the United States, 
International transactions, Penalties, Reporting and recordkeeping 
requirements.

    Dated: June 7, 2011.
J. Steven Landefeld,
Director, Bureau of Economic Analysis.

    For reasons set forth in the preamble, BEA amends 15 CFR part 806 
as follows:

PART 806--DIRECT INVESTMENT SURVEYS

0
1. The authority citation for 15 CFR part 806 continues to read as 
follows:

    Authority:  5 U.S.C. 301; 22 U.S.C. 3101-3108; E.O. 11961 (3 
CFR, 1977 Comp., p. 86), as amended by E.O. 12318 (3 CFR, 1981 
Comp., p. 173), and E.O. 12518 (3 CFR, 1985 Comp., p. 348).

0
2. In Sec.  806.14, paragraph (d)(3) is removed and paragraphs (f)(1), 
(f)(2), (g)(1) are removed and reserved. Paragraph (g)(2) is revised to 
read as follows:


Sec.  806.14   U.S. direct investment abroad.

* * * * *
    (g) * * *
    (2) BE-10-Benchmark Survey of U.S. Direct Investment Abroad: 
Section 4(b) of the Act (22 U.S.C. 3103) provides that a comprehensive 
benchmark survey of U.S. direct investment abroad will be conducted in 
1982, 1989, and every fifth year thereafter. Exemption levels, specific 
requirements for, and the year of coverage of, a given BE-10 survey may 
be found in Sec.  806.16.
* * * * *


Sec.  806.15  [Amended]

0
3. In Sec.  806.15, paragraph (j)(1) is removed and reserved and 
paragraphs (j)(3), (j)(4), and (j)(5) are removed.

0
4. Section 806.18(b) is revised to read as follows:


Sec.  806.18   OMB control numbers assigned to the Paperwork Reduction 
Act.

* * * * *
    (b) Display.

------------------------------------------------------------------------
                                                             Current OMB
       15 CFR section where identified and described         control No.
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806.1 through 806.17.......................................    0608-0004
                                                                    0009
                                                                    0034
                                                                    0042
                                                                    0049
                                                                    0053
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[FR Doc. 2011-16065 Filed 7-5-11; 8:45 am]
BILLING CODE 3510-06-P