[Federal Register Volume 79, Number 7 (Friday, January 10, 2014)]
[Rules and Regulations]
[Pages 1734-1735]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-00219]
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SECURITIES AND EXCHANGE COMMISSION
17 CFR Part 200
[Release No. 34-71238]
Responsibilities of the General Counsel
AGENCY: Securities and Exchange Commission.
ACTION: Final rule.
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SUMMARY: The Securities and Exchange Commission (``Commission'') is
amending its rules to reflect that the Commission's General Counsel is
responsible for providing advice to Commission attorneys on
professional responsibility issues relating to their official duties
and investigating allegations of professional misconduct by Commission
staff and, where appropriate, making referrals to state professional
boards or societies.
DATES: Effective Date: January 10, 2014.
FOR FURTHER INFORMATION CONTACT: Richard M. Humes, Associate General
Counsel, at (202) 551-5140, Securities and Exchange Commission, 100 F
Street NE., Washington, DC 20549; Shira Pavis Minton, Ethics Counsel,
at (202) 551-7938, Securities and Exchange Commission, 100 F Street
NE., Washington, DC 20549.
SUPPLEMENTARY INFORMATION:
I. Discussion
These amendments conform the Commission's regulations, in part 200
of Title 17 of the Code of Federal Regulations, to the current
responsibilities of the General Counsel. They do so by adding language
that describes the General Counsel's responsibility for providing
advice to Commission attorneys on professional responsibility issues
relating to their official duties, investigating allegations of
professional misconduct by Commission staff and, where appropriate,
making referrals to state professional boards or societies. In
addition, the amendments clarify that the Ethics Counsel is not
responsible for investigating and potentially referring allegations of
professional misconduct by Commission staff. Finally, the amendments
include several minor corrections to provisions that relate to the
responsibilities of the Ethics Counsel.
II. Related Matters
A. Administrative Procedure Act and Other Administrative Laws
The Commission has determined that these amendments to its rules
relate
[[Page 1735]]
solely to the agency's organization, procedure, or practice.
Accordingly, the provisions of the Administrative Procedure Act
regarding notice of proposed rulemaking and opportunity for public
participation are not applicable.\1\ The Regulatory Flexibility Act,
therefore, does not apply.\2\ Because these rules relate solely to the
agency's organization, procedure, or practice and do not substantially
affect the rights or obligations of non-agency parties, they are not
subject to the Small Business Regulatory Enforcement Fairness Act.\3\
Finally, these amendments do not contain any collection of information
requirements as defined by the Paperwork Reduction Act of 1995, as
amended.\4\
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\1\ 5 U.S.C. 553(b).
\2\ 5 U.S.C. 601-612.
\3\ 5 U.S.C. 804.
\4\ 44 U.S.C. 3501-3520.
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B. Consideration of Burden on Competition
Section 23(a)(2) of the Exchange Act requires the Commission, in
making rules pursuant to any provision of the Exchange Act, to consider
among other matters the impact any such rule would have on competition.
The Commission does not believe that the amendments that the Commission
is adopting today will have any impact on competition.
Statutory Authority
The amendments to the Commission's rules are adopted pursuant to 15
U.S.C. 77o, 77s, 77sss, 78d, 78d-1, 78d-2, 78w, 78ll(d), 78mm, 80a-37,
80b-11, and 7202.
List of Subjects in 17 CFR Part 200
Administrative practice and procedure, Authority delegations
(Government agencies), Organization and functions (Government
agencies).
Text of Amendments
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. 77o, 77s, 77sss, 78d, 78d-1, 78d-2, 78w,
78ll(d), 78mm, 80a-37, 80b-11, 7202, and 7211 et seq., unless
otherwise noted.
* * * * *
0
2. In Sec. 200.21 paragraph (a), after the fourth sentence, that
begins with ``In addition, he or she is responsible'', add two new
sentences to read as follows:
Sec. 200.21 The General counsel.
(a) * * * The General Counsel is responsible for providing advice
to Commission attorneys on professional responsibility issues relating
to their official duties. The General Counsel is further responsible
for investigating allegations of professional misconduct by Commission
staff and, where appropriate, making referrals to state professional
boards or societies. * * *
* * * * *
Sec. 200.21a [Amended]
0
3. In Sec. 200.21a:
0
a. In paragraph (a), remove the phrase ``Office of Administrative and
Personnel Management,'' and add in its place, ``Office of Human
Resources, the Office of Government Ethics,'';
0
b. In paragraph (b)(1), at the end of the paragraph, add the phrase
``that relate to the Commission's Ethics Program'' before the period;
0
c. In paragraph (b)(2), at the end of the paragraph, add the phrase ``,
which the Ethics Counsel shall refer to the General Counsel'' before
the period;
0
d. Remove paragraph (b)(7);
0
e. Redesignate paragraph (b)(8) as (b)(7).
Subpart M--Regulation Concerning Conduct of Members and Employees
and Former Members and Employees of the Commission
0
4. The authority citation for Part 200, Subpart M, continues to read as
follows:
Authority: 15 U.S.C. 77s, 77sss, 78w, 80a-37, 80b-11; E.O.
11222, 3 CFR, 1964-1965 Comp., p. 36; 5 CFR 735.104 and 5 CFR 2634;
and 5 CFR 2635, unless otherwise noted.
Sec. 200.735-15 [Amended]
0
5. In Sec. 200.735-15:
0
a. Remove paragraph (b).
0
b. Redesignate paragraphs (c), (d) (e) and (f) as paragraphs (b), (c),
(d) and (e), respectively.
0
c. In the first sentence of newly redesignated paragraph (b), remove
the words ``any Deputy Counselor or''.
0
d. In newly redesignated paragraph (c), remove the words ``and Deputy
Counselors''. Also in newly redesignated paragraph (c), remove the
words ``they receive'' and add in their place ``he or she receives''
wherever they appear.
Dated: January 6, 2014.
By the Commission.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2014-00219 Filed 1-9-14; 8:45 am]
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