[Federal Register Volume 60, Number 140 (Friday, July 21, 1995)]
[Rules and Regulations]
[Pages 37555-37556]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-17844]
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Rules and Regulations
Federal Register
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This section of the FEDERAL REGISTER contains regulatory documents
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to and codified in the Code of Federal Regulations, which is published
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Federal Register / Vol. 60, No. 140 / Friday, July 21, 1995 / Rules
and Regulations
[[Page 37555]]
INTERNATIONAL DEVELOPMENT COOPERATION AGENCY
Overseas Private Investment Corporation
5 CFR Chapter XXXIII
22 CFR Part 705
RINs 3209-AA00, 3209-AA04, 3209-AA15, and 3209-AA16
Supplemental Standards for Ethical Conduct for Employees of the
Overseas Private Investment Corporation
agency: Overseas Private Investment Corporation (OPIC).
action: Final rule.
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summary: The Overseas Private Investment Corporation (OPIC), with the
concurrence of the Office of Government Ethics (OGE), is issuing a
regulation for employees of OPIC that supplements the executive branch-
wide Standards of Ethical Conduct issued by OGE. OPIC is also repealing
its existing agency standards of conduct regulations that are now
superseded by the branch-wide Standards of Ethical Conduct and by the
executive branch financial disclosure regulation also issued by OGE. In
place of the regulations, OPIC is substituting a cross-reference to the
new branch-wide regulations and this supplemental regulation.
effective date: July 21, 1995.
for further information contact: James R. Offutt, (202) 336-8414.
SUPPLEMENTARY INFORMATION:
I. Analysis of Regulation
On August 7, 1992, the OGE published the Standards of Ethical
Conduct for Employees of the Executive Branch (Standards) for
codification at 5 CFR part 2635. See 57 FR 35006-35067, as corrected at
57 FR 48557 (October 27, 1992) and 57 FR 52583 (November 4, 1992). The
Standards, effective February 3, 1993, set uniform ethical conduct
standards applicable to all executive branch personnel.
With the concurrence of OGE, 5 CFR 2635.105 authorizes executive
agencies to publish agency-specific supplemental regulations that are
necessary to properly implement their respective ethics programs. OPIC
and OGE have determined that the following interim supplemental rule is
necessary for successful implementation of OPIC's ethics program, in
light of OPIC's operations.
5 CFR 2635.105 and 2635.803 authorize individual agencies, by
supplemental regulation, to require employees to obtain approval before
engaging in outside employment activities. This final rule, for
codification at 5 CFR 4301.101, requires any employee of OPIC who wants
to engage in outside employment to obtain prior approval of such
activity from OPIC's Designated Agency Ethics Official.
OPIC is also repealing its existing standards of conduct
regulations at 22 CFR part 705 which, except for the sections noted
immediately below, were superseded by the executive branch-wide
Standards on February 3, 1993. Sections 705.735-104, 705.735-109 and
part of 705.734-110 of OPIC's standards, dealing with financial
disclosure, were superseded on October 5, 1992 by OGE's executive
branch-wide financial disclosure regulation codified at 5 CFR part
2634. See 57 FR 11800-11830 (April 7, 1992), as amended at 57 FR 21854-
21855 (May 22, 1992) and 57 FR 62605 (December 31, 1992). In place of
its old standards at 22 CFR part 705, OPIC is issuing a residual cross-
reference provision at new 22 CFR 705.101 to refer to both the branch-
wide Standards and financial disclosure regulations and to OPIC's new
supplemental regulation.
II. Matters of Regulatory Procedure
Administrative Procedure Act
The Deputy General Counsel of OPIC found good cause pursuant to 5
U.S.C. 553(b) for waiving, as unnecessary and contrary to the public
interest, the general notice of proposed rulemaking and the 30-day
delay in effectiveness as to the interim rules and repeal. The reason
for this determination was that it was important to smooth transition
from OPIC's prior ethics rules to the new executive branch-wide
Standards and financial disclosure regulations that these rulemaking
actions take place as soon as possible. Furthermore, this rulemaking is
related to OPIC organization, procedure and practice. Nonetheless, the
interim rulemaking was published in 58 FR 33319 (June 17, 1993), and
had provision for a 45-day public comment period. No comments were
received on the interim rulemaking.
Executive Order 12866
In promulgating these final regulations, the Overseas Private
Investment Corporation has adhered to the regulatory philosophy and the
applicable principles of regulation set forth in section 1 of Executive
Order 12866, Regulatory Planning and Review. These regulations have not
been approved by the Office of Management and Budget under the
Executive Order, as they deal with agency organizational, management,
and personnel matters and are not, in any event, deemed ``significant''
thereunder.
Regulatory Flexibility Act
The Deputy General Counsel of OPIC determined under the Regulatory
Flexibility Act (5 U.S.C. chapter 6) that this regulation will not have
a significant impact on small business because it affects only OPIC
employees.
Paperwork Reduction Act
The Deputy General Counsel of OPIC determined that the Paperwork
Reduction Act (44 U.S.C. chapter 35) does not apply because this
regulation does not contain any information collection requirements
that require the approval of the Office of Management and Budget.
Executive Agency Ethics Programs
The Director of the Office of Government Ethics approved this
interim rule, for the reasons set forth in the preamble, on March 18,
1993. No changes were made to the interim rule to make it the final
rule.
List of Subjects in 5 CFR Part 4301 and 22 CFR Part 705
Conflict of interests, Government employees.
For the reasons set out the preamble, the interim rules published
in the
[[Page 37556]]
Federal Register issue of June 17, 1993 (58 FR 33320) adding 5 CFR
chapter XXXIII and revising 22 CFR part 709 are adopted as final
without change.
Authority: 5 U.S.C. 7301.
Dated: July 14, 1995.
James R. Offutt,
Assistant General Counsel, Department of Legal Affairs, Overseas
Private Investment Corporation.
Dated: July 14, 1995.
Stephen D. Potts,
Director, Office of Government Ethics.
[FR Doc. 95-17844 Filed 7-20-95; 8:45 am]
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