[Federal Register Volume 62, Number 70 (Friday, April 11, 1997)]
[Rules and Regulations]
[Page 17702]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-9399]
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COMMODITY FUTURES TRADING COMMISSION
17 CFR Part 11
Delegation of Authority To Conduct Investigations in Assistance
of Foreign Futures Authorities
AGENCY: Commodity Futures Trading Commission.
ACTION: Final rules.
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SUMMARY: The Commission is amending certain provisions of the
Commission's Regulations to formalize the authority of the Director of
the Division of Enforcement to conduct investigations in assistance of
foreign futures authorities. The purpose of the amendments is to set
forth agency procedure and practice with respect to conducting such
investigations.
DATES: Effective: April 11, 1997.
FOR FURTHER INFORMATION CONTACT:
Ethiopis Tafara, International Operations Attorney, Division of
Enforcement, US Commodity Futures Trading Commission, Three Lafayette
Centre, 1155 21st Street, NW, Washington, DC 20581. Telephone (202)
418-5362.
SUPPLEMENTARY INFORMATION: Sections 6(c) and 8 of the Commodity
Exchange Act as amended, 7 U.S.C. Secs. 12, 15 (1994), authorize the
Commission to investigate violations of the Act and Commission
regulations and orders. Part 11 of the Commission Rules delegates this
authority to the Division of Enforcement. In the Futures Trading
Practice Act of 1992, Pub. L. 102-546, 106 Stat. 3590, Congress added
Section 12(f) of the Commodity Exchange Act, 7 U.S.C. Sec. 16(f)
(1994), authorizing the Commission to conduct investigations in
assistance of foreign futures authorities. The Commission has amended
Part 11 of the Commission Rules formally to authorize the Director of
the Division of Enforcement to conduct these investigations. The
amended Rules are not substantive in content and simply set forth
agency procedure and practice with respect to investigations conducted
in assistance of foreign futures authorities. Consequently, the
Commission is not seeking public comment. Similarly, the Commission
finds good cause to make these amendments effective immediately.
List of Subjects in 17 CFR Part 11
Investigations.
PART 11--[AMENDED]
For the reasons set forth above, Part 11 of Title 17 of the Code of
Federal Regulations is amended as follows:
1. The authority citation for Part 11 is revised as follows:
Authority: 7 U.S.C. 4a(j), 9 and 15, 12, 12a(5), 12(f).
2. Section 11.1 is revised as follows:
Sec. 11.1 Scope and applicability of rules.
The rules of this part apply to investigatory proceedings conducted
by the Commission or its staff pursuant to Sections 6(c) and 8 and
12(f) of the Commodity Exchange Act, as amended, 7 U.S.C. 9 and 15 and
12 and 16(f) (1994), to determine whether there have been violations of
that Act, or the rules, regulations or orders adopted thereunder, or,
in accordance with the provisions of Section 12(f) of the Act, whether
there have been violations of the laws, rules or regulations relating
to futures or options matters administered or enforced by a foreign
futures authority, or whether an application for designation or
registration under the Act should be denied.
3. Section 11.2, paragraph (a) is revised as follows:
Sec. 11.2 Authority to conduct investigations.
(a) The Director of the Division of Enforcement and members of the
Commission staff acting pursuant to his authority and under his
direction may conduct such investigations as he deems appropriate to
determine whether any persons have violated, are violating, or are
about to violate the provisions of the Commodity Exchange Act, as
amended, or the rules, regulations or orders adopted by the Commission
pursuant to that Act, or, in accordance with the provisions of Section
12(f) of the Act, whether any persons have violated, are violating or
are about to violate the laws, rules or regulations relating to futures
or options matters administered or enforced by a foreign futures
authority, or whether an applicant for registration or designation
meets the requisite statutory criteria.
* * * * *
Issued in Washington, DC on March 28, 1997, by the Commission.
Jean A. Webb,
Secretary of the Commission.
[FR Doc. 97-9399 Filed 4-10-97; 8:45 am]
BILLING CODE 6351-01-M
