[Federal Register Volume 79, Number 190 (Wednesday, October 1, 2014)]
[Rules and Regulations]
[Pages 59104-59105]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-23394]
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SECURITIES AND EXCHANGE COMMISSION
17 CFR Part 200
[Release No. 34-73229]
Delegation of Authority to the Chief Financial Officer
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 to the Chief Financial Officer the
authority granted to the Commission by Section 21F(g)(4) of the
Securities and Exchange Act of 1934 (``Exchange Act'') to request that
the Secretary of the Treasury invest the portion of the Commission's
whistleblower reward fund that, in its discretion, is not required to
meet the current needs of the fund, and determine the maturities for
those investments suitable to the needs of the fund. These changes are
intended to streamline the operation of the Commission by delegating to
staff certain routine financial responsibilities.
DATES: Effective September 29, 2014.
FOR FURTHER INFORMATION CONTACT: Kenneth Johnson, Chief Financial
Officer, at (202) 551-5472 or Caryn Kauffman, Deputy Chief Financial
Officer, at (202) 551-8834, Securities and Exchange Commission, 100 F
Street NE., Washington, DC 20549.
SUPPLEMENTARY INFORMATION:
I. Discussion
Section 21F(g)(1) of the Exchange Act establishes the Securities
and Exchange Commission Investor Protection Fund (``Fund''),\1\ which
is available to pay awards to whistleblowers (as provided in Section
21F(b)), and to fund certain activities of the Commission's Inspector
General.\2\ The Commission may request that the Secretary of the
Treasury invest the portion of the Fund that is not, in the discretion
of the Commission, required to meet the current needs of the Funds.\3\
The Secretary of the Treasury must invest such funds in obligation of
the United States, ``within maturities suitable to the needs of the
funds of the Fund as determined by the Commission on the record.'' \4\
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\1\ 14 U.S.C. 78u-6(g)(1).
\2\ 15 U.S.C. 78u-6(g)(2).
\3\ 15 U.S.C. 78u-6(g)(4)(A).
\4\ 15 U.S.C. 78u-6(g)(4)(B).
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The Commission is amending it rules to delegate to the Chief
Financial Officer the authority, in accordance with section 21F(g)(4),
to make requests to the Secretary of the Treasury to invest the Fund's
monies that are not, in his or her discretion, required to meet the
current needs of the Fund and to determine what maturities for these
investments are suitable to the needs of the Fund.
The Office of Financial Management, headed by the Chief Financial
Officer, is responsible for managing the financial matters of the
Commission. In providing the Chief Financial Officer with the authority
to perform these additional functions, this amendment is intended to
streamline the efficient operation of the Commission.
II. Administrative Law Matters
The Commission has determined that these amendments relate 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.\5\ The Regulatory Flexibility Act, therefore, does not
apply.\6\ 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.\7\ Finally,
these amendments do not contain any collection of information
requirements as defined by the Paperwork Reduction Act of 1995, as
amended.\8\ Further, because the amendments impose no new burdens on
private persons, the Commission does not believe that the amendments
will have any impact on competition for purposes of Section 23(a) (2)
of the Exchange Act.
[[Page 59105]]
Accordingly, the amendments are effective October 1, 2014.
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\5\ 5 U.S.C. 553(b).
\6\ 5 U.S.C. 601 through 612.
\7\ 5 U.S.C. 804.
\8\ 44 U.S.C. 3501 through 3520.
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Statutory Authority
The amendments to the Commission's rules are adopted pursuant to 15
U.S.C. 77o, 77s, 77sss, 77d, 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, 77d, 78d-1, 78d-2, 78o-4,
78w, 78ll(d), 78mm, 80a-37, 80b-11, 7202, and 7211 et seq. unless
otherwise noted.
* * * * *
0
2. Section 200.30-13 is amended by adding paragraph (c) to read as
follows.
Sec. 200.30-13 Delegation of authority to Chief Financial Officer.
* * * * *
(c) Pursuant to section 21F(g)(4) of the Securities and Exchange
Act of 1934 (15 U.S.C. 78u-6(g)(4)), the making of requests to the
Secretary of the Treasury to invest the portion of the Securities and
Exchange Commission Investor Protection Fund that is not, in his or her
discretion, required to meet the current needs of the fund, and the
determination of the maturities for those investments suitable to the
needs of the fund.
By the Commission.
Dated: September 26, 2014.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-23394 Filed 9-29-14; 11:15 am]
BILLING CODE 8011-01-P