[Title 17 CFR 146.12]
[Code of Federal Regulations (annual edition) - April 1, 2003 Edition]
[Title 17 - COMMODITY AND SECURITIES EXCHANGES]
[Chapter I - COMMODITY FUTURES TRADING COMMISSION]
[Part 146 - RECORDS MAINTAINED ON INDIVIDUALS]
[Sec. 146.12 - Exemptions.]
[From the U.S. Government Printing Office]


17COMMODITY AND SECURITIES EXCHANGES12003-04-012003-04-01false146.12Sec. 146.12COMMODITY AND SECURITIES EXCHANGESCOMMODITY FUTURES TRADING COMMISSIONRECORDS MAINTAINED ON INDIVIDUALS
Sec. 146.12  Exemptions.

    (a) Investigatory materials compiled for law enforcement purposes 
are exempt from portions of the Privacy Act of 1974 and of these rules 
as set forth in paragraph (c) of this section, on the basis and to the 
extent that individual access to these files could impair the 
effectiveness and orderly conduct of the Commission's regulatory and 
enforcement program. Materials exempted under this paragraph are 
contained in the system of records entitled ``Exempted Investigatory 
Records'' and/or in the system of records entitled ``Exempted Closed 
Commission Meetings.'' Notwithstanding the foregoing, however, no record 
which has served as a basis for denying an individual a right, 
privilege, or benefit to which he would otherwise be eligible, shall be 
maintained in this system, unless the disclosure of such material would 
reveal the identity of a source who furnished information to the 
Government under an express promise that the identity of the source 
would be held in confidence, or, prior to the effective date of this 
section, under an implied promise that the identity of the source would 
be held in confidence. For records of this type, if practicable, 
material identifying the confidential source shall be extracted or 
summarized in a manner which protects the source and the summary or 
extract shall be maintained in a comparable nonexempted system of 
records.
    (b) Investigatory material compiled solely for the purpose of 
determining suitability, eligibility, or qualifications for employment 
with the Commission are exempt from portions of the Privacy Act of 1974 
and of these rules as set forth in paragraph (c) of this section, to the 
extent that it identifies a confidential source. This is done in order 
to encourage persons from whom information is sought to provide 
information to the Commission which, absent assurances of 
confidentiality, they would be unwilling to give. However, if 
practicable, material identifying a confidential source shall be 
extracted or summarized in a manner which protects the source and the 
summary or extract shall be maintained in a non-exempt system containing 
the same category of record. Materials exempted under this paragraph are 
included in the system of records entitled ``Exempted Employee 
Background Investigation Material'' and/or in the system of records 
entitled ``Exempted Closed Commission Meetings.''
    (c) The systems set forth in paragraphs (a) and (b) of this section 
are hereby exempted from the provisions of sections 552a(c), (3)(d), 
(e)(1), (e)(4)(G), (e)(4)(H), (e)(4)(I) and (f) of title 5 of the U.S. 
Code (the Privacy Act of 1974), and are also exempted from the following 
sections of these rules: Sec. 146.3 (requests for information and for 
access); Sec. 146.5 (access to records); Sec. 146.6(d) (accounting of 
disclosures to be made available to the individual); Sec. 146.11(a) (7), 
(8), (9) (content of the system notice); and Sec. 146.7(a) (relevancy of 
records).

[41 FR 3212, Jan. 21, 1976, as amended at 53 FR 35198, Sept. 12, 1988]