[Federal Register: July 9, 2002 (Volume 67, Number 131)]
[Rules and Regulations]
[Page 45299-45300]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr09jy02-4]
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COMMODITY FUTURES TRADING COMMISSION
17 CFR Part 140
Delegations of Authority
AGENCY: Commodity Futures Trading Commission.
ACTION: Final rule.
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SUMMARY: The Commission is adopting a rule to re-delegate authority
formerly delegated to the Directors of the Division of Trading and
Markets and the Division of Economic Analysis, and their respective
designees, to the respective Directors and their designees of two newly
established operating divisions of the Commission: The Division of
Market Oversight and the Division of Clearing and Intermediary
Oversight. The reorganized divisions will more effectively implement
the provisions of the Commodity Futures Modernization Act of 2000.
EFFECTIVE DATE: July 9, 2002.
FOR FURTHER INFORMATION CONTACT: Harold L. Hardman, Assistant General
Counsel or Julian E. Hammar, Attorney, Office of General Counsel,
Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st
Street, NW., Washington, DC 20581. Telephone: 202-418-5120. E-mail:
(hhardman@cftc.gov) or (jhammar@cftc.gov).
SUPPLEMENTARY INFORMATION:
I. Delegations
Congress passed and the President signed into law the Commodity
Futures Modernization Act of 2000 (``CFMA''), amending the Commodity
Exchange Act.\1\ In order to more effectively implement its provisions,
the Commission has reorganized its operating divisions. Under the
reorganization plan, the Division of Trading and Markets and the
Division of Economic Analysis have been reconfigured into two new
divisions: The Division of Market Oversight and the Division of
Clearing and Intermediary Oversight.
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\1\ The Commodity Exchange Act may be found at 7 U.S.C. 1 et
seq. (2000) as amended by the Commodity Futures Modernization Act of
2000, Appendix E of Pub. L. 106-554, 114 Stat. 2763 (2000).
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The Commission's rules in Chapter I of Title 17 of the Code of
Federal Regulations contain numerous specific delegations of authority
from the Commission to the Directors of the Division of Trading and
Markets and/or the Division of Economic Analysis, and their respective
designees. The Commission effective immediately is adopting new rule
140.100, which provides that all delegations of authority from the
Commission to the Directors of the Division of Trading and Markets and/
or the Division of Economic Analysis, and their respective designees,
as currently set forth in Chapter I of Title 17 of the Code of Federal
Regulations, are delegated jointly to the respective Directors of the
Division of Market Oversight and the Division of Clearing and
Intermediary Oversight, and their respective designees.\2\ The
conditions of, and limitations upon, the original delegations of
authority remain unchanged.
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\2\ Section 15 of the Commodity Exchange Act, as amended by the
Commodity Futures Modernization Act of 2000, provides that before
promulgating a regulation under this Act or issuing an order, the
Commission shall consider the costs and benefits of the action of
the Commission. This rule governs internal agency organization,
procedure, and practice, and therefore the Commission finds that
none of the considerations enumerated in Section 15(a)(2) of the
Act, as amended, are applicable to this rule.
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II. Related Matters
Administrative Procedure Act
The Commission has determined that this delegation of authority
relates solely to agency organization, procedure and practice.
Therefore, the provisions of the Administrative Procedure Act that
generally require notice of proposed rulemaking and that provide other
opportunities for public participation are not applicable.\3\ The
Commission further finds that, because the rules have no adverse effect
upon a member of the public, there is good cause to make them effective
immediately upon publication in the Federal Register.
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\3\ 5 U.S.C. 553 (1994).
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List of Subjects in 17 CFR Part 140
Authority delegations (Government agencies), Organization and
functions (Government agencies).
In consideration of the foregoing and pursuant to the authority
contained in the Commodity Exchange Act and in particular, sections
2(a) and 8a,\4\ as amended by the Commodity Futures Modernization Act
of 2000, appendix E of Public Law 106-554, 114 Stat. 2763 (2000), the
Commission amends part 140 of title 17 of the Code of Federal
Regulations as follows:
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\4\ 7 U.S.C. 2(a) and 12a (2000).
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PART 140--ORGANIZATION, FUNCTIONS, AND PROCEDURES OF THE COMMISSION
1. The authority citation for part 140 continues to read as
follows:
Authority: 7 U.S.C. 2 and 12a.
2. Part 140 of 17 CFR is amended by adding new Sec. 140.100 to
subpart B to read as follows:
[[Page 45300]]
Sec. 140.100 Delegations of authority.
The Commission hereby re-delegates the delegations of authority
made to the Directors of the Division of Trading and Markets and/or to
the Division of Economic Analysis, and their respective designees, in
all instances as they occur throughout this chapter, jointly to the
respective Directors of the Division of Market Oversight and the
Division of Clearing and Intermediary Oversight, and their respective
designees.
Issued in Washington, DC, on July 2, 2002, by the Commission.
Jean A. Webb,
Secretary of the Commission.
[FR Doc. 02-17179 Filed 7-8-02; 8:45 am]
BILLING CODE 6351-01-M