[Federal Register Volume 59, Number 79 (Monday, April 25, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-9876]
[[Page Unknown]]
[Federal Register: April 25, 1994]
-----------------------------------------------------------------------
FEDERAL COMMUNICATIONS COMMISSION
47 CFR Part 43
[CC Docket No. 93-5; FCC 94-84]
Elimination or Revision of Certain Reporting Requirements for
Communication Common Carriers and Certain Affiliates
AGENCY: Federal Communications Commission.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: The Commission has adopted a Report and Order (``Order'')
eliminating the requirement that common carriers file pension and
benefits documents. The Order also revises the revenue threshold for
certain affiliates to file the Securities and Exchange Commission
Annual Form 10-K reports with the FCC. The FCC issued this Order to
fulfill its obligation to review reporting requirements as they meet
current regulatory needs. The change will result in savings to the
public by reducing industry reporting burdens and to the Commission by
reducing the cost of processing these filings and maintaining them in
storage.
EFFECTIVE DATES: July 25, 1994.
FOR FURTHER INFORMATION CONTACT: Kenneth M. Ackerman, Federal
Communications Commission, Accounting and Audits Division, Common
Carrier Bureau, Washington, DC 20554, (202) 634-1861.
SUPPLEMENTARY INFORMATION: This is a summary of the Commission's Report
and Order, CC Docket No. 93-5, adopted April 7, 1994, and released
April, 1994. The full text of this Commission's decision is available
to inspect and copy during normal business hours in the FCC Dockets
Branch (room 231), 1919 M Street, NW., Washington, DC. The full text of
this decision may also be purchased from the Commission's copy
contractor, ITS, Inc. 2100 M Street NW., suite 140, Washington, DC
20037, (202) 857-3800.
In the Order, the Commission eliminates Section 43.42, Reports on
pensions and benefits that communications common carriers with annual
revenues of $100 million or more file with this Commission. Because the
laws that provide for the oversight of pension plans and the generally
accepted accounting principles applicable to pension have brought about
a greater degree of uniformity in the process of estimating and
accounting for pension and benefit costs, the Commission has concluded
that there is no need to require carriers to file the underlying
details of their pension and benefits plans. The Commission can use the
pension data currently being reported by the carriers in the
Commission's Automated Reporting and Management Information System.
In the Order the Commission revises Section 43.21(c) to require a
communication common carrier that directly or indirectly controls any
communication common carrier that has annual operating revenues in
excess of $100 million to file the Securities and Exchange Commission
Annual Report Form 10-K. The Commission concluded that there is no need
to receive financial reports from a controlling company when the
controlled communication common carrier does not have annual operating
revenues in excess of $100 million. This revision raises the reporting
threshold from $2.5 million to $100 million and makes the reporting
threshold Sec. 43.21(c) consistent with other part 43 reporting
requirements.
Public reporting burden for the collection of information is
estimated to average one hour per response, including the time for
reviewing instructions, searching existing data sources, gathering and
maintaining the data needed, and completing and reviewing the
collection of information. Send comments regarding this burden estimate
or any other aspect of this collection of information, including
suggestions for reducing the burden, to the Federal Communications
Commission, Records Management Division, Paperwork Reduction Project
(3060-0514), Washington, DC 20554 and to the Office of Management and
Budget, Paperwork Reduction Project (3060-0514), Washington, DC 20503.
Ordering Clauses
Accordingly, It Is Ordered that, pursuant to sections 4, 218, 219,
220 and 303 of the Communications Act of 1994, as as amended, 47 U.S.C.
sections 154, 218, 219, 220 and 303, part 43 of the Commmission's
Rules, 47 CFR part 43, is AMENDED as set forth below, effective 90 days
from the date of publication in the Federal Register.
List of Subjects in 47 CFR Part 43
Communications common carriers, Reporting and recordkeeping
requirements.
Federal Communications Commission.
William F. Caton,
Acting Secretary.
Final Rules
Part 43 of title 47 of the CFR is amended as follows:
PART 43--REPORTS OF COMMUNICATION COMMON CARRIERS AND CERTAIN
AFFILIATES
1. The authority citation for Part 43 continues to read as follows:
Authority: Sec. 4, 48 Stat. 1066, as amended; 47 U.S.C. 154,
unless otherwise noted. Interpret or apply secs. 211, 219, 220, 48
Stat. 1073, 1077, as amended; 47 U.S.C. 211, 219, 220.
2. Paragraph (c) of Sec. 43.21 is revised to read as follows:
Sec. 43.21 Annual reports of carriers and certain affiliates.
* * * * *
(c) Each company, not itself a communication common carrier, that
directly or indirectly controls any communication common carrier that
has annual operating revenues of $100 million or more shall file
annually with the Commission, not later than the date prescribed by the
Securities and Exchange Commission for its purposes, two complete
copies of any annual report Forms 10-K (or any superseding form) filed
with that Commission.
* * * * *
Sec. 43.42 [Removed]
3. Section 43.42 is removed.
[FR Doc. 94-9876 Filed 4-22-94; 8:45 am]
BILLING CODE 6712-01-M
