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


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Part XLV





Commodity Futures Trading Commission





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Semiannual Regulatory Agenda

[[Page 63410]]



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: Semiannual regulatory agenda.

_______________________________________________________________________

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: Gerald P. Smith, Special 
Assistant to the Executive Director, Commodity Futures Trading 
Commission, 1155 21st Street NW., Washington, DC 20581, (202) 418-5160.

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 October and April 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 list rules that the 
Commission is considering or will consider in the near future.

    For this edition of the Commission's regulatory agenda, the 
most important significant regulatory actions are included in The 
Regulatory Plan, which appears in Part II of this issue of the 
Federal Register. The Regulatory Plan entries are listed in the 
Table of Contents below and are denoted by a bracketed bold 
reference, which directs the reader to the appropriate Sequence 
Number in Part II.

    The Commission's October 1996 regulatory flexibility agenda is 
set forth below.

Issued in Washington, DC, on September 20, 1996, by the Commission.

Jean A. Webb,

Secretary to the Commission.

                                               Proposed Rule Stage                                              
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                                                                                                     Regulation 
 Sequence                                           Title                                            Identifier 
  Number                                                                                               Number   
----------------------------------------------------------------------------------------------------------------
4373        Procedures for Involuntary Bulk Transfers or Liquidations of Customer Accounts........    3038-AA77 
4374        Use of Electronic Media by Commodity Pool Operators and Commodity Trading Advisors                  
            (Reg Plan Seq. No. 157)...............................................................    3038-AB17 
4375        Financial Reports of Futures Commission Merchants and Introducing Brokers.............   3038-AB18  
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References in boldface appear in the Regulatory Plan in Part II of this issue of the Federal Register.          


                                                Final Rule Stage                                                
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                                                                                                     Regulation 
 Sequence                                           Title                                            Identifier 
  Number                                                                                               Number   
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4376        Risk Assessment for Holding Company Systems (Reg Plan Seq. No. 158)...................    3038-AB01 
4377        Prohibition on Voting by Interested Members (Reg Plan Seq. No. 159)...................    3038-AB03 

[[Page 63411]]

                                                                                                                
4378        Financial Reporting and Debt-Equity Ratio Requirements for Futures Commission                       
            Merchants and Introducing Brokers (Reg Plan Seq. No. 160).............................   3038-AB13  
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References in boldface appear in the Regulatory Plan in Part II of this issue of the Federal Register.          


                                                Long-Term Actions                                               
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                                                                                                     Regulation 
 Sequence                                           Title                                            Identifier 
  Number                                                                                               Number   
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4379        Account Identification for Orders Submitted on Behalf of Multiple Customer Accounts...    3038-AB08 
4380        Option Large Trader Report............................................................    3038-AB19 
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                                                Completed Actions                                               
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                                                                                                     Regulation 
 Sequence                                           Title                                            Identifier 
  Number                                                                                               Number   
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4381        Ethics Training for Registrants: Proficiency Training for Providers...................    3038-AB10 
4382        Early Warning Reporting Requirements for Futures Commission Merchants.................    3038-AB11 
4383        Minimum Financial Requirements, Prepayment of Subordinated Debt and Gross Collection                
            of Exchange-Set Margin for Omnibus Accounts...........................................    3038-AB12 
4384        Self-Regulatory Organization Automated Systems........................................    3038-AB14 
4385        Disclosure of Broker Association Membership...........................................    3038-AB15 
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COMMODITY FUTURES TRADING COMMISSION (CFTC)         Proposed Rule Stage


  



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4373. PROCEDURES FOR INVOLUNTARY BULK TRANSFERS OR LIQUIDATIONS OF 
CUSTOMER ACCOUNTS

Priority:  Substantive, Nonsignificant

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:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            03/00/97
NPRM Comment Period End         05/00/97

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, 1155 21st 
Street NW., Washington, DC 20581
Phone: 202 418-5439

RIN: 3038-AA77
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4374.  USE OF ELECTRONIC MEDIA BY COMMODITY POOL OPERATORS AND 
COMMODITY TRADING ADVISORS

Regulatory Plan:  This entry is Seq. No. 157 in Part II of this issue 
of the Federal Register.

RIN: 3038-AB17
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4375.  FINANCIAL REPORTS OF FUTURES COMMISSION MERCHANTS AND 
INTRODUCING BROKERS

Priority:  Substantive, Nonsignificant

Legal Authority:  7 USC 6f; 7 USC 6g; 7 USC 12a(5)

CFR Citation:  17 CFR 1.10; 17 CFR 31.13

Legal Deadline: None

Abstract: The Commission is proposing to amend its Rule 1.10(d)(4) such 
that the use of a personal identification number when filing a 
financial report electronically with the Commission would be deemed to 
be a manual signature for the purpose of attesting to the truth and 
correctness of the information contained in the report. The proposal 
would also amend Rule 1.10(c) such that electronically filed financial 
reports would be filed with the Commission's Central Regional Office 
rather than with the regional office nearest the registrant's principal 
place of business. The Commission further proposes to eliminate the 
need

[[Page 63412]]

to separately bind certain portions of the financial reports in order 
for such portions to be accorded non-public treatment.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            10/00/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Lawrence T. Eckert, Attorney Advisor, Division of 
Trading and Markets, Commodity Futures Trading Commission, 1155 21st 
Street NW., Washington, DC 20581
Phone: 202 418-5449

RIN: 3038-AB18
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COMMODITY FUTURES TRADING COMMISSION (CFTC)            Final Rule Stage


  



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4376. RISK ASSESSMENT FOR HOLDING COMPANY SYSTEMS

Regulatory Plan:  This entry is Seq. No. 158 in Part II of this issue 
of the Federal Register.

RIN: 3038-AB01
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4377. PROHIBITION ON VOTING BY INTERESTED MEMBERS

Regulatory Plan:  This entry is Seq. No. 159 in Part II of this issue 
of the Federal Register.

RIN: 3038-AB03
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4378. FINANCIAL REPORTING AND DEBT-EQUITY RATIO REQUIREMENTS FOR FUTURES 
COMMISSION MERCHANTS AND INTRODUCING BROKERS

Regulatory Plan:  This entry is Seq. No. 160 in Part II of this issue 
of the Federal Register.

RIN: 3038-AB13
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COMMODITY FUTURES TRADING COMMISSION (CFTC)           Long-Term Actions


  



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4379. ACCOUNT IDENTIFICATION FOR ORDERS SUBMITTED ON BEHALF OF MULTIPLE 
CUSTOMER ACCOUNTS

Priority:  Substantive, Nonsignificant

CFR Citation:  17 CFR 1.35

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            05/03/93                    58 FR 26270
NPRM Comment Period End         06/17/93
Final Action                    11/00/97
Final Action Effective          12/00/97

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Duane C. Andresen
Phone: 202 418-5492

RIN: 3038-AB08
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4380.  OPTION LARGE TRADER REPORT

Priority:  Substantive, Nonsignificant

Legal Authority:  7 USC 6g; 7 USC 6i; 7 USC 7; 7 USC 12a

CFR Citation:  17 CFR 15; 17 CFR 16; 17 CFR 17; 17 CFR 18; 17 CFR 19

Legal Deadline: None

Abstract: This action will require futures industry firms to file daily 
option large trader reports to the Commission on a daily basis. 
Currently, the firms report this data to multiple exchanges. The 
Commission can act as a central office for collecting the information 
and distributing it to the exchanges.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            07/18/96                    61 FR 37409
NPRM Comment Period End         09/16/96
Final Action                    00/00/00

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Lamont L. Reese, Associate Director, Market 
Surveillance, Commodity Futures Trading Commission, 1155 21st Street 
NW., Washington, DC 29581
Phone: 202 418-5310

RIN: 3038-AB19
_______________________________________________________________________


COMMODITY FUTURES TRADING COMMISSION (CFTC)           Completed Actions


  



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4381. ETHICS TRAINING FOR REGISTRANTS: PROFICIENCY TRAINING FOR 
PROVIDERS

Priority:  Substantive, Nonsignificant

CFR Citation:  17 CFR 3.34

Completed:
________________________________________________________________________

Reason                            Date                      FR Cite

________________________________________________________________________

Final Action                    05/06/96                    61 FR 20127
Final Action Effective          06/05/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Lawrence B. Patent
Phone: 202 418-5439

RIN: 3038-AB10
_______________________________________________________________________




4382. EARLY WARNING REPORTING REQUIREMENTS FOR FUTURES COMMISSION 
MERCHANTS

Priority:  Other Significant

CFR Citation:  17 CFR 1.12

[[Page 63413]]

Completed:
________________________________________________________________________

Reason                            Date                      FR Cite

________________________________________________________________________

Final Action                    05/01/96                    61 FR 19177
Final Action Effective          05/31/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Lawrence B. Patent
Phone: 202 418-5439

RIN: 3038-AB11
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4383. MINIMUM FINANCIAL REQUIREMENTS, PREPAYMENT OF SUBORDINATED DEBT 
AND GROSS COLLECTION OF EXCHANGE-SET MARGIN FOR OMNIBUS ACCOUNTS

Priority:  Other Significant

CFR Citation:  17 CFR 1.12; 17 CFR 1.17; 17 CFR 1.58

Completed:
________________________________________________________________________

Reason                            Date                      FR Cite

________________________________________________________________________

Final Action                    05/01/96                    61 FR 19177
Final Action Effective          05/31/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Lawrence B. Patent
Phone: 202 418-5439

RIN: 3038-AB12
_______________________________________________________________________




4384. SELF-REGULATORY ORGANIZATION AUTOMATED SYSTEMS

Priority:  Other Significant

CFR Citation:  17 CFR 1.68

Completed:
________________________________________________________________________

Reason                            Date                      FR Cite

________________________________________________________________________

Withdrawn                       08/01/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Lois J. Gregory
Phone: 202 418-5483
Fax: 202 418-5536

RIN: 3038-AB14
_______________________________________________________________________




4385.  DISCLOSURE OF BROKER ASSOCIATION MEMBERSHIP

Priority:  Other Significant

Legal Authority:  7 USC 6b

CFR Citation:  17 CFR 156.4

Legal Deadline: None

Abstract: Commission Regulation 156.4 requires each contract market to 
make available to the public generally and upon request a list of all 
registered broker associations at the contract market. The list must 
identify for each broker association the name of each person who is a 
member or otherwise has a direct beneficial interest in the broker 
association. The information which Regulation 156.4 requires contract 
markets to publicize already is being maintained by the contract 
markets pursuant to Commission Regulation 156.2(b).

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Final Action                    08/09/96                    61 FR 41496
Final Action Effective          10/08/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: David P. Van Wagner, Special Counsel, Commodity Futures 
Trading Commission, 1155 21st Street NW., Washington, DC 20581
Phone: 202 418-5481

RIN: 3038-AB15
[FR Doc. 96-25327 Filed 11-27-96; 8:45 am]
BILLING CODE 6351-01-F