[Unified Agenda of Federal Regulations]
[Commodity Futures Trading Commission Semiannual Regulatory Agenda]
[From the U.S. Government Printing Office, www.gpo.gov]


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Part XLVI




 
Commodity Futures Trading Commission





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Semiannual Regulatory Agenda


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COMMODITY FUTURES TRADING COMMISSION (CFTC)                            
  
  
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COMMODITY FUTURES TRADING COMMISSION

17 CFR Ch. I

Regulatory Flexibility Agenda

AGENCY: Commodity Futures Trading Commission.

ACTION: Publication of regulatory flexibility agenda.

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SUMMARY: The Commodity Futures Trading Commission, in accordance with 
the requirements of the Regulatory Flexibility Act, is publishing a 
semiannual agenda of significant rules which the Commission expects to 
propose or promulgate over the next year. The Commission welcomes 
comments from small entities and others on the agenda.

ADDRESSES: Comments should be sent to: Gerry Smith, Special Assistant 
to the Executive Director, Commodity Futures Trading Commission, 2033 K 
Street NW., Washington, DC 20581, (202) 254-6090.

SUPPLEMENTARY INFORMATION: The Regulatory Flexibility Act, 5 U.S.C. 601 
et seq. (RFA), sets forth a number of requirements for agency 
rulemaking. Among other things, the RFA requires that:

    (a) During the months of April and October of each year, each 
agency shall publish in the Federal Register a regulatory 
flexibility agenda which shall contain:

    (1) A brief description of the subject area of any rule which 
the agency expects to propose or promulgate which is likely to have 
a significant economic impact on a substantial number of small 
entities;

    (2) A summary of the nature of any such rule under 
consideration for each subject area listed in the agenda pursuant 
to paragraph (1), the objectives and legal basis for the issuance 
of the rule, and an approximate schedule for completing action on 
any rule for which the agency has issued a general notice of 
proposed rulemaking; and

    (3) The name and telephone number of an agency official 
knowledgeable concerning the items listed in paragraph (1).

5 U.S.C. 602(a). The Commission has prepared an agenda of significant 
rules which it presently expects may be considered during the course of 
the next year, irrespective of their potential impact on small 
entities.1


1 The Commission has published its definition of small entity to be 
used by the Commission in connection with rulemaking proceedings. 47 FR 
18618 (April 30, 1982). Pursuant to those definitions, the Commission 
is not required to list many of the agenda items contained in this 
regulatory flexibility agenda. See 5 U.S.C. 602(a)(1). Moreover, the 
Commission has previously certified, pursuant to section 605 of the 
RFA, 5 U.S.C. 605, that certain items contained in this agenda will not 
have a significant economic impact on a substantial number of small 
entities. Accordingly, listing of a rule in this regulatory flexibility 
agenda should not in any event be taken as a determination that a rule, 
when proposed or promulgated, will in fact require a regulatory 
flexibility analysis. However, the Commission hopes that the 
publication of an agenda, which includes significant rules, regardless 
of their potential impact on small entities, may serve the public 
generally by providing an early and meaningful opportunity to 
participate in and comment on the formulation of new or revised 
regulations.

    The Commission's agenda represents its best estimate of 
significant rules which will be considered over the next 12 
months.2 In this regard, section 602(d) of the RFA, 5 U.S.C. 
602(d), provides: ``Nothing in [section 602] precludes an agency 
from considering or acting on any matter not included in a 
regulatory flexibility agenda or requires an agency to consider or 
act on any matter listed in such agenda.''


2 In addition to publishing the regulatory flexibility agenda, the 
Commission also makes available to the public, on a monthly basis, a 
calendar and, on a weekly basis, an advisory, which lists rules that 
the Commission is considering or will consider in the near future.

    The Commission's April 1994 regulatory flexibility agenda is 
set forth below.

Issued in Washington, DC, on March 4, 1994, by the Commission.

Jean A. Webb,

Secretary of the Commission. 

                                              Proposed Rule Stage                                               
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                                                                                                     Regulation 
 Sequence                                           Title                                            Identifier 
 Number                                                                                                Number   
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4619        Review of Commission Disclosure Requirements Concerning Commodity Pool Operators......    3038-AA74 
4620        Procedures for Involuntary Bulk Transfers or Liquidations of Customer Accounts........    3038-AA77 
4621        Risk Assessment for Holding Company Systems...........................................    3038-AB01 
4622        Prohibition on Voting by Interested Members...........................................    3038-AB03 
4623        Regulations Concerning Exemptions Under Section 4(c) of the Commodity Exchange Act....   3038-AB06  
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                                                Final Rule Stage                                                
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                                                                                                     Regulation 
 Sequence                                           Title                                            Identifier 
 Number                                                                                                Number   
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4624        Account Identification For Orders Submitted on Behalf of Multiple Customer Accounts...   3038-AB08  
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                                               Completed Actions                                                
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                                                                                                     Regulation 
 Sequence                                           Title                                            Identifier 
 Number                                                                                                Number   
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4625        Regulation Concerning Conduct of Members and Employees and Former Members and                       
            Employees of the Commission...........................................................    3038-AA87 
4626        Prohibition Against Insider Trading...................................................    3038-AA96 
4627        Rules Relating to Reparation Proceedings..............................................    3038-AB05 
4628        Rules Relating to Reparation Proceedings..............................................   3038-AB07  
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COMMODITY FUTURES TRADING COMMISSION (CFTC)         Proposed Rule Stage
  
  
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4619. REVIEW OF COMMISSION DISCLOSURE REQUIREMENTS CONCERNING COMMODITY 
POOL OPERATORS

Legal Authority:  7 USC 2; 7 USC 6b; 7 USC 6c; 7 USC 6l; 7 USC 6m; 7 
USC 6n; 7 USC 6o; 7 USC 12a

CFR Citation:  17 CFR 4.21; 17 CFR 4.31; 17 CFR 4.10

Legal Deadline: None

Abstract: The Commission will review its requirements concerning 
disclosure materials to be provided pool participants and customers of 
commodity trading advisors with a view toward simplifying the 
disclosure process, reducing any unnecessary burdens, and harmonizing 
the Commission's disclosure requirements with those of other domestic 
and international regulators.

Timetable:
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Action                            Date                      FR Cite

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NPRM                            05/00/94
NPRM Comment Period End         07/00/94

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Barbara S. Gold, Assistant Chief Counsel, Division of 
Trading and Markets, Commodity Futures Trading Commission, 2033 K 
Street NW., Washington, DC 20581, 202 254-8955

RIN: 3038-AA74
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COMMODITY FUTURES TRADING COMMISSION (CFTC)         Proposed Rule Stage
  
  
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4620. PROCEDURES FOR INVOLUNTARY BULK TRANSFERS OR LIQUIDATIONS OF 
CUSTOMER ACCOUNTS

Legal Authority:  7 USC 6d; 7 USC 6f; 7 USC 6g; 7 USC 6k; 7 USC 12a

CFR Citation:  17 CFR 1.68

Legal Deadline: None

Abstract: The CFTC will undertake a rulemaking proceeding to establish 
requirements concerning procedures to be followed by futures commission 
merchants and introducing brokers when bulk transfers or liquidations 
of customer accounts are made due to cessation or suspension of 
business or other special circumstances affecting the registrant.

Timetable:
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Action                            Date                      FR Cite

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NPRM                            09/00/94
NPRM Comment Period End         11/00/94

Small Entities Affected: Undetermined

Government Levels Affected: None

Agency Contact: Lawrence B. Patent, Associate Chief Counsel, Division 
of Trading and Markets, Commodity Futures Trading Commission, 2033 K 
Street NW., Washington, DC 20581, 202 254-8955

RIN: 3038-AA77
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COMMODITY FUTURES TRADING COMMISSION (CFTC)         Proposed Rule Stage
  
  
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4621. RISK ASSESSMENT FOR HOLDING COMPANY SYSTEMS

Legal Authority:  7 USC 6f(c)

CFR Citation:  17 CFR 1.14; 17 CFR 1.15

Legal Deadline: None

Abstract: The Commission is proposing risk assessment regulations which 
would require futures commission merchants:(1) to provide reports to 
the Commission regarding the activities of affiliated persons that are 
reasonably likely to affect materially the financial or operational 
condition of such entities; and (2) to obtain certain information and 
make and keep certain records concerning their policies, procedures or 
systems for monitoring and controlling financial and operational risks 
to them resulting from the activities of affiliated persons. The 
Commission has held discussions with the Securities and Exchange 
Commission regarding the operation of their temporary risk assessment 
regulations in an effort to avoid unnecessary duplication and sought 
input from other financial regulators.

Timetable:
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Action                            Date                      FR Cite

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NPRM                            03/01/94                     59 FR 9689
NPRM Comment Period End         05/02/94

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Lawrence T. Eckert, Attorney Advisor, Division of 
Trading and Markets, Commodity Futures Trading Commission, 2033 K 
Street NW., Washington, DC 20581, 202 254-8955

RIN: 3038-AB01
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COMMODITY FUTURES TRADING COMMISSION (CFTC)         Proposed Rule Stage
  
  
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4622. PROHIBITION ON VOTING BY INTERESTED MEMBERS

Legal Authority:  7 USC 7a(17)

CFR Citation:  17 CFR 1.67

Legal Deadline: None

Abstract: The regulation will implement the provisions of section 217 
of the Futures Trading Practices Act of 1992 which require contract 
markets to adopt rules to avoid conflicts of interest in deliberations 
and voting by members of the governing board and disciplinary and other 
oversight committees. The rulemaking will define the relationships 
between a named party in interest and a member of the governing board 
or committee which would require abstention from deliberations and 
voting. The rulemaking also will provide guidelines on situations which 
would require a member to abstain from voting on a significant action 
because of a substantial financial interest in the outcome of the vote 
based on positions held personally or at an affiliated firm, as well as 
other matters addressed by the statute. The action will potentially 
impact the selection and composition of contract market governing 
boards and committees.

Timetable:
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Action                            Date                      FR Cite

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NPRM                            06/00/94
NPRM Comment Period End         07/00/94
Final Action                    10/00/94

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Linda Kurjan, Special Counsel, Division of Trading and 
Markets, Commodity Futures Trading Commission, 2033 K Street NW., 
Washington, DC 20581, 202 254-8955

RIN: 3038-AB03
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COMMODITY FUTURES TRADING COMMISSION (CFTC)         Proposed Rule Stage
  
  
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4623. REGULATIONS CONCERNING EXEMPTIONS UNDER SECTION 4(C) OF THE 
COMMODITY EXCHANGE ACT

Legal Authority:  7 USC 6(c); 7 USC 4a(j); 7 USC 12a(5)

CFR Citation:  17 CFR 1.71; 17 CFR 1.72; 17 CFR 140.97

Legal Deadline: None

Abstract: The regulations will implement section 4(c) of the Commodity 
Exchange Act which was recently adopted with the passage of the Futures 
Trading Practices Act of 1992. Section 4(c) authorizes the Commission, 
under certain circumstances, to exempt any agreement, contract, or 
transaction from certain provisions of the Act. The regulations will 
set forth procedures for requesting limited public availability of 
information contained in applications. Finally, authority will be 
delegated to the General Counsel to determine whether to grant or deny 
requests for limited public availability.

Timetable:
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Action                            Date                      FR Cite

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NPRM                            09/00/94

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Ellyn S. Roth, Attorney, Office of the General Counsel, 
Commodity Futures Trading Commission, 2033 K Street NW., Washington, DC 
20581, 202 254-9880

RIN: 3038-AB06
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COMMODITY FUTURES TRADING COMMISSION (CFTC)            Final Rule Stage
  
  
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4624.  ACCOUNT IDENTIFICATION FOR ORDERS SUBMITTED ON BEHALF OF 
MULTIPLE CUSTOMER ACCOUNTS

Legal Authority:  7 USC 7; 7 USC 7a; 7 USC 7b; 7 USC 8; 7 USC 12a; 7 
USC 12c

CFR Citation:  17 CFR 1.35

Legal Deadline: None

Abstract: These rule amendments permit consolidated futures orders for 
multiple accounts to be placed and executed on contract markets without 
individual customer identification at time of entry or execution. 
Depending on the accounts, the person placing the order would identify 
accounts and either pre-file an allocation plan or certify certain 
facts.

Timetable:
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Action                            Date                      FR Cite

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NPRM                            05/03/93                    58 FR 26270
NPRM Comment Period End         06/17/93
Final Action                    07/00/94
Final Action Effective          08/00/94

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Duane C. Andresen, Attorney Advisor, Divison of Trading 
and Markets, Commodity Futures Trading Commission, 2033 K Street NW., 
Washington, DC 20581, 202 254-8955

RIN: 3038-AB08
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COMMODITY FUTURES TRADING COMMISSION (CFTC)           Completed Actions
  
  
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4625. REGULATION CONCERNING CONDUCT OF MEMBERS AND EMPLOYEES AND FORMER 
MEMBERS AND EMPLOYEES OF THE COMMISSION

CFR Citation:  17 CFR 140.735-1 to 16

Completed:
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Reason                            Date                      FR Cite

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Final Action                    10/12/93                    58 FR 52656
Final Action Effective          10/12/93

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Larry Gasteiger, 202 254-9880

RIN: 3038-AA87
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COMMODITY FUTURES TRADING COMMISSION (CFTC)           Completed Actions
  
  
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4626. PROHIBITION AGAINST INSIDER TRADING

CFR Citation:  17 CFR 1.59

Completed:
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Reason                            Date                      FR Cite

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Final Action                    10/25/93                    58 FR 84966
Final Action Effective          11/24/93

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Elizabeth A. Patterson, 202 254-8955

RIN: 3038-AA96
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COMMODITY FUTURES TRADING COMMISSION (CFTC)           Completed Actions
  
  
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4627. RULES RELATING TO REPARATION PROCEEDINGS

CFR Citation:  17 CFR 12.500

Completed:
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Reason                            Date                      FR Cite

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Final Action                    03/01/94                     59 FR 9631
Final Action Effective          05/02/94

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Merry Lymn, 202 254-9880

RIN: 3038-AB05
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COMMODITY FUTURES TRADING COMMISSION (CFTC)           Completed Actions
  
  
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4628. RULES RELATING TO REPARATION PROCEEDINGS

CFR Citation:  17 CFR 12

Completed:
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Reason                            Date                      FR Cite

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Final Action                    03/01/94                     59 FR 9631
Final Action Effective          05/02/94

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Merry Lymn, 202 254-9880

RIN: 3038-AB07
[FR Doc. 94-6367 Filed 04-22-94; 8:45 am]
BILLING CODE 6351-01-F
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