[Federal Register Volume 77, Number 91 (Thursday, May 10, 2012)]
[Pages 27444-27445]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-11324]




[Release Nos. 34-66932; File No. 265-26]

Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues

AGENCIES: Securities and Exchange Commission (``SEC'') and Commodity 
Futures Trading Commission (``CFTC'') (each, an ``Agency,'' and 
collectively, ``Agencies'').

ACTION: Notice of Federal Advisory Committee Renewal.


SUMMARY: The Chairmen of the SEC and CFTC, with the concurrence of the 
other SEC and CFTC Commissioners, respectively, intend to renew the 
charter of the Joint CFTC-SEC Advisory Committee on Emerging Regulatory 
Issues (the ``Committee'').


    Because the Agencies will jointly review all comments submitted, 
interested parties may send comments

[[Page 27445]]

to either Agency and need not submit responses to both Agencies. 
Respondents are encouraged to use the title ``Joint CFTC-SEC Advisory 
Committee'' to facilitate the organization and distribution of comments 
between the Agencies. Interested parties are invited to submit 
responses to:
    Securities and Exchange Commission: Written comments may be 
submitted by the following methods:

Electronic Comments

     Use the SEC's Internet submission form (http://www.sec.gov/rules/other/shtml); or
     Send an email to [email protected].
    Please include File No. 265-26 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy, 
Secretary, Securities and Exchange Commission, 100 F St. NE., 
Washington 20549. All submissions should refer to File No. 265-26.
    To help the SEC process and review your comments more efficiently, 
please use only one method. The SEC staff will post all comments on the 
SEC's Internet Web site (http://www.sec.gov/rules/shtml). Comments will 
also be available for Web site viewing and printing in the SEC's Public 
Reference Room, 100 F St. NE., Washington, DC 20549, on official 
business days between the hours of 10:00 a.m. and 3:00 p.m. All 
comments received will be posted without change; we do not edit 
personal identifying information from your submissions. You should 
submit only information that you wish to make available publicly.

Commodity Futures Trading Commission

     Written comments may be mailed to the Commodity Futures 
Trading Commission, Three Lafayette Center, 1155 21st Street NW., 
Washington, DC 20581, attention Office of the Secretary; transmitted by 
facsimile to the CFTC at (202) 418-5521; or transmitted electronically 
to [email protected]. Reference should be made to ``Joint CFTC-
SEC Advisory Committee.''

FOR FURTHER INFORMATION CONTACT: Ronesha Butler, Special Counsel, at 
(202) 551-5629, Division of Trading and Markets, Securities and 
Exchange Commission, 100 F St. NE., Washington DC 20549, or Gail Scott, 
Committee Management Officer, at (202) 418-5139, Commodity Futures 
Trading Commission, Three Lafayette Center, 1155 21st Street, NW., 
Washington, DC 20581.

SUPPLEMENTARY INFORMATION: In accordance with the requirements of the 
Federal Advisory Committee Act, 5 U.S.C. App. 2, the Agencies are 
publishing this notice that the Chairmen of the SEC and CFTC, with the 
concurrence of the other SEC and CFTC Commissioners, intend to renew 
the charter of the Committee. The Committee was originally established 
on May 10, 2010, to operate for a term of two years.\1\ The Committee's 
objectives and scope of activities are to conduct public meetings, 
submit reports and recommendations to the CFTC and the SEC and 
otherwise to serve as a vehicle for discussion and communication on 
regulatory issues of mutual concern and their effect on the CFTC's and 
SEC's statutory responsibilities. Subjects to be addressed by the 
Committee will include, but will not be limited to, identification of 
emerging regulatory risks, assessment and quantification of the impact 
of such risks and their implications for investors and market 
participants, and to further the Agencies' efforts on regulatory 
harmonization. The Committee will work to develop clear and specific 
goals toward identifying and addressing emerging regulatory risks, 
protecting investors and customers, and furthering regulatory 
harmonization, and to recommend processes and procedures for achieving 
and reporting on those goals.

    \1\ See Securities Act Release No. 9123, 75 FR 27028 (May 13, 
2010) (File No. 265-26).

    To achieve the Committee's goals, the Chairmen of the SEC and CFTC 
may appoint approximately 10-15 members. There will be two co-
designated federal officers of the Committee. The Chairman of the CFTC 
will appoint a CFTC employee to serve as one co-designated federal 
officer of the Committee and the Chairman of the SEC will appoint an 
SEC employee to serve as the other co-designated federal officer of the 
Committee. The co-designated federal officers jointly call all of the 
Committee's and subcommittees' meetings, prepare and jointly approve 
all meeting agendas, adjourn any meeting when they jointly determine 
adjournment to be in the public interest, and chair meetings when 
directed to do so. The co-designated federal officers also will attend 
all Committee and subcommittee meetings. The Chairmen of the CFTC and 
of the SEC continue to serve as Co-Chairmen of the Committee. The 
Committee's membership will be fairly balanced in terms of points of 
view represented and the functions to be performed.
    The Committee's charter will be filed with the Senate Committee on 
Agriculture, Nutrition and Forestry; the House of Representatives 
Committee on Agriculture; the Senate Committee on Banking, Housing, and 
Urban Affairs; the House Committee on Financial Services; and U.S. 
General Services Administration Committee Management Secretariat 
(``Secretariat''). A copy of the charter also will be filed with the 
SEC, CFTC and the Library of Congress. The charter will be available 
for Web site viewing and printing in the Public Reference Room at the 
SEC's headquarters and posted on the SEC's Web site at www.sec.gov and 
the CFTC's Web site at www.cftc.gov.
    The Committee will continue to operate for an additional two years 
from the date of renewal of the charter unless, before the expiration 
of that time period, its charter is re-established or renewed in 
accordance with the Federal Advisory Committee Act or unless either the 
Chairman of the SEC or the Chairman of the CFTC determines that the 
Committee's continuance is no longer in the public interest.
    The Committee will meet at such intervals as are necessary to carry 
out its functions. It is estimated that the meetings will occur six 
times per year. Meetings of subgroups or subcommittees of the full 
Committee may occur more frequently.
    The charter will provide that the duties of the Committee are to be 
solely advisory. Each Agency alone will make any determinations of 
action to be taken and policy to be expressed with respect to matters 
within their respective authority as to which the Committee provides 
advice or makes recommendations.
    The Chairmen of the Agencies affirm that the renewal of the 
Committee is necessary and in the public interest.

    By the Securities and Exchange Commission.
Elizabeth M. Murphy,
    By the Commodity Futures Trading Commission.

    Dated: May 7, 2012.
David A. Stawick,
[FR Doc. 2012-11324 Filed 5-9-12; 8:45 am]