[Federal Register Volume 84, Number 32 (Friday, February 15, 2019)]
[Notices]
[Pages 4449-4450]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-02506]


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COMMODITY FUTURES TRADING COMMISSION


Agricultural Advisory Committee

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.

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SUMMARY: The Commodity Futures Trading Commission (CFTC or Commission) 
is requesting nominations for membership on the Agricultural Advisory 
Committee (AAC or Committee) and also inviting the submission of 
potential topics for discussion at future Committee meetings. The AAC 
is a discretionary advisory committee established by the Commission in 
accordance with the Federal Advisory Committee Act (FACA).

DATES: The deadline for the submission of nominations and topics is 
March 1, 2019.

ADDRESSES: Nominations and topics for discussion at future AAC meetings 
should be emailed to [email protected] or

[[Page 4450]]

sent by hand delivery or courier to Charlie Thornton, AAC Designated 
Federal Officer and Director of Legislative Affairs, Commodity Futures 
Trading Commission, Three Lafayette Centre, 1155 21st Street NW, 
Washington, DC 20581. Please use the title ``Agricultural Advisory 
Committee'' for any nominations or topics you submit.

FOR FURTHER INFORMATION CONTACT: Charlie Thornton, AAC Designated 
Federal Officer and Director of Legislative Affairs, at (202) 418-5145 
or email: [email protected].

SUPPLEMENTARY INFORMATION: The AAC was established to assist the 
Commission in assessing issues affecting agricultural producers, 
processors, lenders, and others interested in or affected by the 
agricultural commodity derivatives markets through public meetings and 
Committee reports and recommendations. The duties of the AAC are solely 
advisory and include calling for reports and/or recommendations by the 
AAC or AAC subcommittee(s), adopting reports and/or recommendations, 
transmitting reports to the Commission, and making recommendations to 
the Commission. Determinations of actions to be taken and policy to be 
expressed with respect to the reports and/or recommendations of the AAC 
shall be made solely by the Commission.
    Historically, the AAC has differed from the CFTC's other federal 
advisory committees in that it has consisted of member organizations 
appointed by the Commission who, in turn, nominate individuals to serve 
as representatives on the Committee. With this release, the CFTC would 
like to open up the AAC member identification process so that all 
interested individuals, firms, or organizations have the opportunity to 
express interest in serving on the AAC. In so doing, the membership 
structure of the AAC would become consistent with the Commission's 
other FACA committeess.
    Historically, the AAC has had between 30-40 members representing 
the following viewpoint categories: (i) Agricultural producers and/or 
direct and indirect users/consumers of agricultural products; (ii) 
providers of agricultural credit; (iii) other major market 
participants, including derivatives intermediaries, buy-side 
representatives and exchanges; (iv) regulators or representatives from 
other relevant government agencies; and (v) academia or public interest 
groups. The AAC has held approximately one meeting per year. AAC 
members serve at the pleasure of the Commission. In addition, AAC 
members do not receive compensation or honoraria for their services, 
and they are not reimbursed for travel and per diem expenses.
    AAC members primarily serve as representatives and provide advice 
reflecting the views of organizations that constitute the structure of 
the agricultural derivatives markets. The particular members will be 
chosen to individually and collectively represent the perspectives of 
those affected by Commission regulatory activities in the agricultural 
field, to serve as a vehicle for communication between the Commission 
and major agricultural and agriculture-related interests, and to air 
issues of mutual concern to the Commission and such interests. 
Depending on the issues faced, the Commission may, from time to time, 
appoint experts to serve as Special Government Employees (SGEs), or 
officials of other Federal agencies to serve, on the AAC. If nominated, 
SGEs will be asked to submit and complete a Confidential Financial 
Disclosure Report (OGE Form 450). The AAC may also include regular 
government employees when doing so furthers purposes of the AAC.
    The Commission seeks to identify individuals who represent 
organizations that reflect a balanced and representative sample of 
agricultural producers, processors, lenders, regulators, and others 
interested in or affected by the agricultural commodity, futures, and 
swaps markets. To advise the Commission effectively, the AAC requires 
members with deep expertise and experience in the following areas: Risk 
management and hedging practices using futures, options, swaps, and 
other derivatives; trade execution associated with such practices; and 
the legal and regulatory regimes that govern hedging and risk 
management. Producers, end users, and agribusiness and industry trade 
associations are among the primary sources of these forms of knowledge 
and experience, and these organizations should be represented by 
individuals that share in this expertise and can represent their 
interests in a way that helps the Commission to understand and resolve 
highly technical issues. The Commission seeks to appoint individuals 
from different viewpoints of market participants, some of whom may have 
conflicting interests for the purpose of obtaining diverse perspectives 
on contested issues and expert operational knowledge. To the extent 
practicable, the Commission will strive to select members reflecting 
wide ethnic, racial, gender, and age representation. AAC members should 
be open to participating in a public forum. The Commission invites the 
submission of nominations for AAC membership. Each nomination 
submission should include relevant information about the proposed 
member, such as the individual's name, title, and organizational 
affiliation, as well as information that supports the individual's 
qualifications to serve on the AAC representing one of the viewpoint 
categories listed above as well as the name and email or mailing 
address of the person or entity nominating the proposed member. The 
submission may also include suggestions for topics for discussion at 
future AAC meetings.
    Submission of a nomination is not a guarantee of selection as a 
member of the AAC. As noted in the AAC's Membership Balance Plan, the 
CFTC identifies members for the AAC based on Commissioners' and 
Commission staff professional knowledge of the agricultural derivatives 
markets, consultation with knowledgeable persons outside the CFTC, and 
requests to be represented received from organizations. The office of 
the Commissioner primarily responsible for the AAC plays a primary, but 
not exclusive, role in this process and makes recommendations regarding 
membership to the Commission. The Commission, by vote, authorizes the 
proposed members to serve on the AAC.
    The Commission also invites submissions from the public regarding 
the topics on which the AAC should focus. In other words, topics that:
     Reflect matters of public concern to agricultural 
derivatives markets, such as contract design, hedging effectiveness, 
price discovery, customer protection, the role of intermediaries, 
exchange rules; and/or
     are important to otherwise assist the Commission in 
identifying and understanding the impact and implications of the 
evolving market structure of the agricultural derivatives markets.
    Each topic submission should include the commenter's name and email 
or mailing address.

(Authority: 5 U.S.C. App. II)

    Dated: February 12, 2019.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2019-02506 Filed 2-14-19; 8:45 am]
 BILLING CODE 6351-01-P