43718 Federal Register / Vol. 79, No. 144 / Monday, July 28, 2014 / Notices 

1Public Law 111–203, 124 Stat. 1376 (2010). 

2 7 U.S.C. 1 et seq. 

3See, e.g., new Section 2(a)(13)(G) of the CEA, 

which requires all swaps, whether cleared or 

uncleared, to be reported to a registered SDR; new 

Section 21(b) of the CEA, which directs the 

Commission to prescribe standards for swap data 

reporting and attendant recordkeeping; and new 

Sections 4r and 2(h)(5) of the CEA, which, among 

responsible fishery within the 

applicable management unit. NCDMF 

will issue proclamations implementing 

additional restrictions if necessary to 

provide increased protection of Atlantic 

sturgeon and other ESA-listed species or 

lifting gillnet or area restrictions if 

supported by NCDMF or NMFS 

biological data. Restrictions may 

include additional measures to reduce 

fishing effort, reduced yardage, 

seasonal/area closures, attendance 

requirements, other gear limitations or 

modifications, extensive outreach, and 

an adaptive Observer Program. NCDMF 

will also identify and adaptively 

respond to areas of high potential for 

Atlantic sturgeon bycatch. These 

‘‘hotspots’’ will be defined as any area, 

determined by geographically 

enforceable boundaries, where Atlantic 

sturgeon observations are unusually 

high within a management unit or 

subunit, such that the NCDMF Director 

determines that closure and evaluation 

is necessary to (1) avoid violation of a 

take limit, or (2) provide adequate 

protection or the Atlantic sturgeon, or 

(3) to allow Atlantic sturgeon to 

complete a seasonal migration and 

minimize interactions. Temporary 

‘‘hotspot’’ closures may be implemented 

while data are gathered and analyzed. 

‘‘Hotspot’’ areas will be identified and 

handled proactively and reactively. For 

any given management unit or subunit 

during a season that shows high 

Atlantic sturgeon abundance, NCDMF 

may close the management unit or 

subunit for the duration of the defined 

season. If an area is closed as a 

‘‘hotspot’’ multiple times throughout the 

year or over a two-year period, NCDMF 

will take proactive measures to close the 

area for longer than a defined season. If 

a particular area within a management 

unit or subunit can be defined within 

the unit as the ‘‘hotspot’’ that area can 

be defined geographically and closed 

within the unit temporarily or 

permanently. 

The amount of annual incidental take 

of Atlantic sturgeon DPSs authorized is 

expressed as either interaction or 

mortality. Each year for ten years, for 

both large and small mesh combined, 

2,927 (169 of which could be 

mortalities) Atlantic sturgeon could be 

taken. These numbers are further broken 

down by DPS and by large and small 

mesh. Annual large mesh takes of 

Carolina DPS fish could be up to 1655 

(80 of which could be mortalities). 

Annual large mesh takes of all other 

DPS fish could be up to 548 (21 of 

which could be mortalities). Annual 

small mesh takes of Carolina DPS fish 

could be up to 607 (58 of which could 

be mortalities). Annual small mesh 

takes of all other DPS fish could be up 

to 117 (10 of which could be 

mortalities). Because reaching the level 

of take for any Atlantic sturgeon would 

end the incidental take authorization, it 

is highly unlikely that all DPSs would 

be impacted at these full levels. 

Additionally, these levels could change 

in years 4–10 of the permit due to 

monitoring population trend data that 

will come from the year 1–3 monitoring 

period depicted in the Implementing 

Agreement. 

Issuance of this permit, as required by 

the ESA, was based on a finding that 

such permit (1) was applied for in good 

faith, (2) will not operate to the 

disadvantage of such endangered or 

threatened species, and (3) is consistent 

with the purposes and policies set forth 

in section 2 of the ESA. 

Dated: July 22, 2014. 

Angela Somma, 

Chief, Endangered Species Conservation 

Division, Office of Protected Resources, 

National Marine Fisheries Service. 

[FR Doc. 2014–17645 Filed 7–25–14; 8:45 am] 

BILLING CODE 3510–22–P 

COMMODITY FUTURES TRADING 

COMMISSION 

Amended and Restated Order 

Designating the Provider of Legal 

Entity Identifiers To Be Used in 

Recordkeeping and Swap Data 

Reporting Pursuant to the 

Commission’s Regulations 

AGENCY: Commodity Futures Trading 

Commission. 

ACTION: Order. 

SUMMARY: The Commodity Futures 

Trading Commission (‘‘Commission’’) 

has issued an Amended and Restated 

Order to extend the Commission’s 

designation of the Depository Trust and 

Clearing Corporation (‘‘DTCC’’) and 

Society for Worldwide Interbank 

Financial Telecommunication 

(‘‘SWIFT’’) joint venture (‘‘DTCC– 

SWIFT’’) as the provider of legal entity 

identifiers, or ‘‘LEIs,’’ pursuant to the 

Commodity Exchange Act and the 

Commission’s regulations. DTCC– 

SWIFT’s designation was made by 

Commission order issued on July 23, 

2012. The designation was made for a 

term of two years. The Amended and 

Restated Order amends the 

Commission’s order of July 23, 2012, as 

previously amended on June 7, 2013, to 

extend DTCC–SWIFT’s designation for 

an additional one year, while the terms 

of transition to a fully operational global 

LEI system are finalized and 

implemented. Consistent with the terms 

of the Commission’s order of July 23, 

2012, as amended on June 7, 2013, the 

Amended and Restated Order permits 

registered entities and swap 

counterparties subject to the 

Commission’s jurisdiction to comply 

with the specified legal entity identifier 

requirements of the Commission’s 

regulations by using identifiers issued 

by DTCC–SWIFT, or any other pre-Local 

Operating Unit (‘‘pre-LOU’’) that has 

been endorsed by the Regulatory 

Oversight Committee of the global LEI 

system as being globally acceptable and 

as issuing globally acceptable legal 

entity identifiers. 

FOR FURTHER INFORMATION CONTACT: 

Srinivas Bangarbale, Chief Data Officer, 

Office of Data and Technology, (202) 

418–5315, sbangarbale@cftc.gov, or 

Nora Flood, Attorney Advisor, Division 

of Market Oversight, (202) 418–5354, 

nflood@cftc.gov, Commodity Futures 

Trading Commission, Three Lafayette 

Centre, 1155 21st Street NW., 

Washington, DC 20581. 

SUPPLEMENTARY INFORMATION: 

Table of Contents: 

I. Background 

A. Legal Entity Identifiers: CEA Section 

21(b) and Section 45.6 of the 

Commission’s Regulations 

B. Designation of the DTCC–SWIFT Utility 

C. Amendment of Designation Order To 

Account for Developments in the 

Establishment of a Global LEI System 

II. Extension of Designation of the DTCC– 

SWIFT Utility 

III. Amended and Restated Order 

I. Background 

A. Legal Entity Identifiers: CEA Section 

21(b) and Section 45.6 of the 

Commission’s Regulations 

Title VII of the Dodd-Frank Wall 

Street Reform and Consumer Protection 

Act (‘‘Dodd-Frank Act’’) 1 amended the 

Commodity Exchange Act (‘‘CEA’’) 2 to 

establish a comprehensive new 

regulatory framework for swaps. 

Amendments to the CEA included the 

addition of provisions requiring the 

retention, and the reporting to 

Commission-registered swap data 

repositories (‘‘SDRs’’), of data regarding 

swap transactions, in order to enhance 

transparency, promote standardization 

and reduce systemic risk.3 Pursuant to 

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Federal Register / Vol. 79, No. 144 / Monday, July 28, 2014 / Notices 43719 

other things, establish reporting requirements for 

swaps in effect as of the enactment of the DoddFrank Act (‘‘pre-enactment swaps’’), as well as 

swaps in effect after such enactment but prior to the 

effective date for compliance with the 

Commission’s final recordkeeping and swap data 

reporting rules (‘‘transition swaps’’ and, collectively 

with pre-enactments swaps, ‘‘historical swaps’’). 

4Swap Data Recordkeeping and Reporting 

Requirements, 77 FR 2136 (January 13, 2012). 

5Swap Data Recordkeeping and Reporting 

Requirements: Pre-Enactment and Transition 

Swaps, 77 FR 35200 (June 12, 2012). 

6CEA Section 21(b). 

7 77 FR at 2204. In addition, in part 46 of the 

Commission’s regulations, Section 46.4 provides 

that each counterparty to a historical swap in 

existence on or after April 25, 2011, for which an 

initial data report is required pursuant to part 46, 

must obtain a legal entity identifier, which must be 

used for purposes of recordkeeping and swap data 

reporting under part 46 as prescribed in Section 

46.4. 77 FR at 35228–9. 

8See 77 FR at 2138. 

9See 77 FR at 2163. 

10 77 FR at 2163. 11The FSB is an international body that develops 

and promotes the implementation of effective 

regulatory, supervisory and other policies in the 

interest of financial stability. Established in 2009 as 

a successor to the Financial Stability Forum, the 

FSB coordinates the work of national financial 

authorities, international standards setting bodies 

and international financial institutions. Its 

membership includes G–20 members, the 

International Monetary Fund and the World Bank. 

The FSB Secretariat is located in Basel, 

Switzerland. The FSB’s Web site can be accessed 

at http://www.financialstabilityboard.org. 

12See 77 FR at 2162. 

13Availability of a Legal Entity Identifier Meeting 

the Requirements of the Regulations of the 

Commodity Futures Trading Commission and 

Designation of Provider of Legal Entity Identifiers 

To Be Used in the Recordkeeping and Swap Data 

Reporting, 77 FR 53870 (September 4, 2012). 

14See 77 FR at 53873. 

15See 77 FR at 53871, citing Commission Press 

Release, CFTC Announces Process to Designate the 

Provider of CFTC Interim Compliant Identifiers, 

March 9, 2012, available at http://www.cftc.gov/

PressRoom/PressReleases/pr6200–12. 

16 Id. 

17 77 FR at 53873. 

18Amended Order Designating the Provider of 

Legal Entity Identifiers to Be Used in 

Recordkeeping and Swap Data Reporting Pursuant 

to the Commission’s Regulations, 78 FR 38954 (June 

28, 2013). 

these newly added provisions, the 

Commission added to its regulations 

part 45,4 which sets forth recordkeeping 

rules, and rules for the reporting of 

swap transaction data to a registered 

SDR, and part 46,5 which sets forth 

recordkeeping and swap data reporting 

rules for historical swaps. 

Under the authority granted by new 

section 21(b) of the CEA, which, among 

other things, directs the Commission ‘‘to 

prescribe standards that specify the data 

elements for each swap that shall be 

collected and maintained’’ by a 

registered SDR,6 the Commission, in its 

part 45 regulations, prescribed the use 

of a legal entity identifier, or ‘‘LEI,’’ in 

required recordkeeping and swap data 

reporting. Section 45.6 provides that 

‘‘[e]ach counterparty to any swap 

subject to the jurisdiction of the 

Commission shall be identified in all 

recordkeeping and all swap data 

reporting pursuant to [part 45] by means 

of a single legal entity identifier as 

specified in this section.’’ 7 In adopting 

this requirement, the Commission 

highlighted the LEI as a crucial 

regulatory tool to facilitate data 

aggregation by regulators, in furtherance 

of the systemic risk mitigation and other 

important purposes of the Dodd-Frank 

Act.8

Section 45.6 sets forth requirements 

that the legal entity identifier to be used 

to comply with the Commission’s 

recordkeeping and swap data reporting 

rules must meet, including satisfaction 

of specified technical and governance 

principles. In adopting these 

requirements, the Commission took into 

consideration work that had 

commenced at the international level to 

establish a global LEI system.9 The 

Commission expressed its agreement 

that ‘‘optimum effectiveness of [the LEI] 

as a tool for achieving the systemic risk 

mitigation, transparency and market 

protection goals of the Dodd-Frank 

Act—goals shared by financial 

regulators world-wide—would come 

from creation of [an LEI] . . . that is 

capable of becoming the single 

international standard for unique 

identification of legal entities across the 

world financial sector.’’ 10 The 

Commission cited its involvement in an 

international initiative, coordinated by 

the Financial Stability Board (‘‘FSB’’),11

to establish standards, and a governance 

framework, for a global LEI system— 

including the Commission’s 

participation in an ad hoc, expert group 

of regulatory authorities convened by 

the FSB to develop recommendations 

regarding the implementation of such a 

system.12

B. Designation of the DTCC–SWIFT 

Utility 

Pursuant to Section 21(b) of the CEA 

and Section 45.6 of the Commission’s 

regulations, on July 23, 2012, the 

Commission issued an order 

(‘‘Order’’) 13 designating the utility 

operated by DTCC–SWIFT as the 

provider of the legal entity identifier to 

be used in recordkeeping and swap data 

reporting pursuant to parts 45 and 46 of 

the Commission’s regulations, and 

directing registered entities and swap 

counterparties subject to the 

Commission’s jurisdiction to use 

identifiers provided by DTCC–SWIFT to 

comply with the Commission’s 

recordkeeping and swap data reporting 

requirements. DTCC–SWIFT’s 

designation was subject to specified 

conditions, including DTCC–SWIFT’s 

continuing compliance with all of the 

legal entity identifier requirements set 

forth in part 45 of the Commission’s 

regulations.14

In the preamble to the Order, the 

Commission highlighted its ongoing 

participation in the international 

process, coordinated by the FSB, to 

develop standards and a governance 

framework for a global LEI system, as 

well as its expectation that, after 

recommendations regarding the global 

system were endorsed by the FSB and 

implemented, the identifier to be used 

to comply with the Commission’s 

recordkeeping and swap data reporting 

rules would transition into the global 

LEI.15 The Commission noted that, in 

light of the work being undertaken at 

the international level to establish a 

global LEI system, and as requested by 

other regulatory authorities 

participating in that work, the 

Commission would, on a transitional 

basis, refer to the legal entity identifier 

to be used to comply with the 

Commission’s recordkeeping and swap 

data reporting rules as the CFTC Interim 

Compliant Identifier (‘‘CICI’’), rather 

than the ‘‘LEI.’’ 16 The Order provided 

that such identifier would be known as 

the CICI ‘‘until the establishment of the 

global LEI system or further action by 

the Commission.’’ 17

C. Amendment of Designation Order To 

Account for Developments in the 

Establishment of a Global LEI System 

On June 7, 2013, the Commission 

issued an amendment to the Order 

(‘‘Amendment’’),18 to take into account 

the significant progress that had been 

made in establishing the global LEI 

system. In the preamble to the 

Amendment, the Commission 

summarized the developments that had 

taken place at the international level 

since the Order was issued. It noted that 

the process to establish the global LEI 

system was now being led by an 

international Regulatory Oversight 

Committee (‘‘ROC’’), of which the 

Commission was a member, and that the 

ROC had determined that the global LEI 

system would be federated in nature— 

comprised of a private sector Central 

Operating Unit (‘‘COU’’), and multiple 

Local Operating Units (‘‘LOUs’’) that 

would issue LEIs. The Commission 

noted that under the auspices of the 

ROC, a foundation (‘‘Global LEI 

Foundation’’) was being established in 

Switzerland to provide the COU, and 

that the COU would, within the global 

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43720 Federal Register / Vol. 79, No. 144 / Monday, July 28, 2014 / Notices 

19See 78 FR at 38955. 

20 Id. 

21 Id. 

22 78 FR at 38955. 

23See 78 FR at 38956. The Amendment also 

modified the Order to provide that the use of 

identifiers issued by approved pre-LOUs other than 

DTCC–SWIFT or WM Datenservice (a pre-LOU 

sponsored to the ROC by BaFin, Germany’s Federal 

Financial Supervisory Authority) could commence 

only after the Commission’s Chief Information 

Officer published a notice on the Commission’s 

Web site stating that such identifiers and such preLOUs had been approved by the ROC as globally 

acceptable. Id. 

24 78 FR at 38956. 

25Notice Regarding LEIs That May Be Used to 

Comply With CFTC LEI Requirements, October 30, 

2013, available at http://www.cftc.gov/ucm/groups/ 

public/@newsroom/documents/file/noticero

camendedorder.pdf. 

26 Id. 

27 In the Order, the Commission provided that the 

legal entity identifier to be used to comply with the 

Commission’s recordkeeping and swap data 

reporting rules would be known as the CICI ‘‘until 

the establishment of the global LEI system or further 

action by the Commission.’’ 77 FR at 53873. The 

Commission’s designation of the DTCC–SWIFT 

utility as the provider of such identifier was 

conditioned on the utility’s Web site, ‘‘and other 

facilities and documents used to provide identifiers 

for use in complying with parts 45 and 46,’’ 

referring to the CICI and not to the ‘‘LEI, the 

preliminary LEI, or other similar terms including 

the term LEI.’’ Id. 

See the discussion, infra, of the action taken by 

the Commission, through its issuance of the 

Amendment, to provide for the transition away 

from the use of the term ‘‘CICI’’ to refer to the legal 

entity identifier to be used to comply with parts 45 

and 46, prior to the conclusion of the process of 

establishing the global LEI system. 

LEI system, coordinate the system’s 

multiple LOUs.19

The Commission further noted that, as 

a step in the establishment of the global 

LEI system, each of seven identifierissuing utilities—including the 

Commission-designated utility operated 

by DTCC–SWIFT—had been sponsored 

to the ROC by the ROC member 

exercising oversight over such utility, 

and had been provided with a distinct 

prefix for use when issuing identifiers, 

in order to ensure the uniqueness of 

identifier codes across utilities. The 

Commission expressed its expectation 

that the number of ROC membersponsored ‘‘pre-LOUs’’ would increase 

in the coming months. The Commission 

also expressed its expectation that the 

Commission-designated ‘‘pre-LOU’’ 

operated by DTCC–SWIFT would 

become a LOU, and that the identifiers 

issued by it would become LEIs, within 

the global LEI system.20

In the preamble to the Amendment, 

the Commission emphasized the 

importance, during the transitional 

period before the global LEI system 

became fully operational, of preserving 

the uniqueness of the identifier issued 

to any particular legal entity. The 

Commission stated that, once 

requirements mandating the use of LEIs 

were in effect in more than one 

jurisdiction, the only way to ensure that 

a single legal entity was not issued more 

than one identifier, pursuant to the 

requirements of more than one 

jurisdiction, was through regulatory 

cooperation—namely, the acceptance, 

by ROC member authorities mandating 

the use of LEIs, of identifiers issued by 

any ROC-recognized pre-LOU.21

The Amendment modified the Order 

to provide for such mutual regulatory 

acceptance. The Commission noted in 

the preamble to the Order the ROC’s 

forthcoming finalization of ‘‘a 

framework for global acceptance of 

[identifiers] assigned by a pre-LOU that 

is sponsored by a ROC member who 

assures the ROC that the pre-LOU meets 

specified principles regarding 

compliance with the [global] LEI 

standard, technical capacity, and 

agreement to adhere to ROC high-level 

principles.’’ 22 The Amendment 

modified the Order to provide that, after 

the ROC had adopted such a framework, 

and had also approved the DTCC– 

SWIFT utility and the identifiers issued 

by it as globally acceptable, registered 

entities and swap counterparties subject 

to the Commission’s jurisdiction could 

use identifiers issued by DTCC–SWIFT, 

or any other pre-LOU approved by the 

ROC as globally acceptable and as 

issuing globally acceptable identifiers, 

to comply with the Commission’s 

recordkeeping and swap data reporting 

rules.23

The preamble to the Amendment 

stated that it was the Commission’s 

understanding that, once the ROC had 

adopted standards for the approval of 

pre-LOUs and the identifiers issued by 

them as globally acceptable, any 

identifiers approved by the ROC as 

meeting such standards would be 

referred to as ‘‘LEIs.’’ Accordingly, the 

Amendment further modified the Order 

to provide that, effective immediately 

upon ROC approval of the identifiers 

issued by DTCC–SWIFT as globally 

acceptable, ‘‘the [identifiers] issued by 

DTCC–SWIFT shall be known as LEIs 

and not as CICIs.’’ 24

On October 30, 2013, the 

Commission’s Chief Information Officer 

published on the Commission’s Web 

site a notice 25 stating that the ROC had 

adopted standards for the approval of 

pre-LOUs and the identifiers issued by 

them as globally acceptable, and had 

approved DTCC–SWIFT and the 

identifiers issued by it as meeting such 

standards (such approval being known, 

at the international level, as ROC 

‘‘endorsement’’). Accordingly, the 

notice stated that from October 30, 2013, 

onward, registered entities and swap 

counterparties subject to the 

Commission’s jurisdiction could comply 

with the legal entity identifier 

requirements of the Commission’s 

recordkeeping and swap data reporting 

rules ‘‘by using any [identifier] endorsed 

by the ROC as globally acceptable.’’ 26

Since its endorsement by the ROC as 

a globally acceptable pre-LOU, the 

DTCC–SWIFT utility—which had 

initially been referred to, on the utility’s 

Web site and in educational and other 

materials, as the ‘‘CFTC Interim 

Compliant Identifier (CICI) utility’’ 27

has commenced referring to itself as the 

‘‘Global Markets Entity Identifier (GMEI) 

utility.’’ It is the Commission’s 

understanding that this transition in 

terminology is intended to clarify for 

market participants that the identifiers 

issued by the DTCC–SWIFT utility may 

be used not only to comply with the 

Commission’s recordkeeping and swap 

data reporting rules, but also to comply 

with the requirements of other 

regulatory authorities that recognize 

legal entity identifiers issued by ROCendorsed pre-LOUs. 

The transition in the terminology 

used by DTCC–SWIFT to refer to its 

utility also reflects the transition— 

anticipated by the Commission in the 

Amendment—away from the use of the 

term ‘‘CICI’’ to refer to the legal entity 

identifier to be used to comply with the 

Commission’s recordkeeping and swap 

data reporting rules. As discussed 

above, at the time of issuing the 

Amendment, it was the Commission’s 

understanding that, after the ROC 

commenced endorsing pre-LOUs and 

the identifiers issued by them as 

globally acceptable, any such globally 

acceptable identifiers would be referred 

to as ‘‘LEIs’’. Accordingly, the 

Amendment modified the Order to 

provide for the identifiers issued by 

DTCC–SWIFT to be known as LEIs 

rather than CICIs, once such identifiers 

were endorsed as globally acceptable by 

the ROC. While, subsequent to the 

issuance of the Amendment, the ROC 

did commence endorsing pre-LOUs and 

the identifiers issued by them as 

globally acceptable, the ROC also 

deferred from referring to endorsed 

identifiers as ‘‘LEIs’’ until the process of 

establishing the global LEI system had 

progressed further. Thus, for an interim 

period, identifiers endorsed by the ROC 

as globally acceptable and issued by a 

globally acceptable pre-LOU—including 

the identifiers issued by DTCC– 

SWIFT—have been referred to at the 

international level as ‘‘pre-LEIs.’’ 

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28See 77 FR at 53873. The Order also permitted 

the Commission’s earlier termination of such 

designation ‘‘in connection with the establishment 

of a global LEI system.’’ Id. 

29 Id. 

30To date, the sixteen endorsed pre-LOUs have, 

collectively, issued nearly 300,000 legal entity 

identifiers. See ROC Press Release, Regulatory 

Oversight Committee Welcomes First Meeting of 

Global LEI Foundation, June 30, 2014, available at 

http://www.leiroc.org/publications/gls/gleif_

20140629_1.pdf. 

31 Id. 32See, e.g., 78 FR at 38955. 

33This does not preclude the Commission from 

considering a submission from another existing or 

prospective provider of legal entity identifiers that 

wishes also to be designated by the Commission, 

along with DTCC–SWIFT, but the Commission 

notes that its consideration of any such submission 

would take into account not only the relevant 

requirements of Section 45.6 of the Commission’s 

regulations, but also, for the reasons set forth 

herein, the principles, standards and current state 

of implementation of the global LEI system. 

II. Extension of Designation of the 

DTCC–SWIFT Utility 

In the Order, the Commission 

designated DTCC–SWIFT as the 

provider of legal entity identifiers to be 

used to comply with parts 45 and 46 of 

the Commission’s regulations for a term 

of two years, running from the date of 

issuance of the Order on July 23, 2012.28

The Order provided that if, at the 

conclusion of the term of DTCC– 

SWIFT’s designation, the global LEI 

system was not yet operational, ‘‘the 

Commission may consider the 

feasibility of having multiple CICI 

providers and the feasibility of 

coordination among them to avoid 

duplicative LEIs, and if it believes this 

is feasible, may consider submissions 

from DTCC–SWIFT as well as from 

other parties that seek to become CICI 

providers.’’ 29

The process to establish the global LEI 

system has continued to move forward 

since the issuance of the Amendment on 

June 7, 2013. As discussed above, in the 

second half of 2013, the ROC adopted 

endorsement standards for pre-LOUs 

and the identifiers issued by them, and 

has since endorsed sixteen membersponsored pre-LOUs—including DTCC– 

SWIFT—as globally acceptable.30 The 

Global LEI Foundation that will provide 

the COU, managing the central 

operations of the global LEI system, has 

also been formally established under 

Swiss law. The ROC and the Global LEI 

Foundation are currently in the process 

of developing a framework for the 

transition of full operational 

management of the global LEI system to 

the COU, with supervisory oversight by 

the ROC in the public interest. On June 

30, 2014, the ROC issued a press release 

stating that, with the establishment of 

the Global LEI Foundation and the 

commencement of the transition to full 

operational management by the COU, 

legal entity identifiers issued by preLOUs that have been endorsed by the 

ROC as globally acceptable, would 

henceforth be referred to as ‘‘LEIs’’ 

rather than ‘‘pre-LEIs.’’ 31 The 

Commission notes that previously 

issued pre-LEIs (including CICIs issued 

by DTCC–SWIFT) do not now need to 

be reissued; they will, going forward, be 

referred to as ‘‘LEIs’’ rather than ‘‘preLEIs’’ (or ‘‘CICIs’’), but will otherwise 

remain unchanged. 

While progress continues to be made 

in the establishment of the global LEI 

system, the system will not be fully 

operational before the expiration of 

DTCC–SWIFT’s two-year term of 

designation under the Order. Taking 

into consideration the significant 

progress that has been made in 

establishing the global LEI system to 

date—including the ROC’s endorsement 

of the DTCC–SWIFT utility as a globally 

acceptable pre-LOU—and in 

anticipation that the DTCC–SWIFT 

utility will become a LOU within the 

global system, the Commission believes 

that it is appropriate, in order to further 

the smooth transition to a fully 

operational global LEI system, to extend 

its designation of the DTCC–SWIFT 

utility. 

The Order contemplated that, if the 

global LEI system was not yet 

operational before the term of DTCC– 

SWIFT’s designation expired, the 

Commission could consider the 

feasibility of having multiple providers 

of legal entity identifiers, and the 

feasibility of coordination among them 

to avoid the issuance of duplicative 

identifiers. The Order was issued before 

the governance framework for the global 

LEI system had been determined—and, 

in particular, before it was determined 

that the system would be federated in 

nature, comprised both of a central 

COU, and of multiple LOUs issuing 

LEIs. Consistent with this federated 

framework, during the current, 

transitional period before the global LEI 

system becomes fully operational, the 

ROC has established standards for the 

global acceptance of pre-LOUs that 

satisfy specified principles and 

requirements, and has endorsed a 

number of pre-LOUs as meeting those 

standards. In addition, the ROC has 

carried forward its practice, described in 

the Amendment, of providing each preLOU with a distinct prefix for use when 

issuing identifiers, in order to ensure 

the uniqueness of identifier codes across 

pre-LOUs. During the transitional 

period, the ROC has also played an 

important role in promoting the mutual 

acceptance, by ROC member authorities 

mandating the use of LEIs, of identifiers 

issued by any pre-LOU endorsed by the 

ROC as globally acceptable.32

Thus, while the global LEI system is 

not yet fully operational, its 

implementation has progressed to the 

point where the system can 

accommodate multiple pre-LOUs, 

operating in accordance with standards 

that are designed to promote 

consistency, and to avoid duplication, 

in the issuance of legal entity 

identifiers. Accordingly, the 

Commission believes that the feasibility 

of having multiple providers of legal 

entity identifiers, and the feasibility of 

coordination among them to avoid the 

issuance of duplicative identifiers, has 

already been addressed in connection 

with the establishment of the global LEI 

system—into which the identifiers to be 

used to comply with the Commission’s 

recordkeeping and swap data reporting 

rules, and any provider thereof, are 

expected to transition.33 The 

Commission’s modification of the 

Order, by way of the Amendment, to 

permit the use of identifiers issued by 

any pre-LOU endorsed by the ROC as 

globally acceptable, and as issuing 

globally acceptable identifiers, reflects 

the Commission’s support for the 

feasibility of such a multiple provider 

system. 

For the reasons described above, the 

Commission is amending the Order, as 

modified by the Amendment, to extend 

its designation of the DTCC–SWIFT 

utility while the terms of transition to a 

fully operational global LEI system are 

finalized and implemented. The 

Commission is also updating the Order 

to align the legal entity identifier 

terminology used therein with the 

terminology that is currently used at the 

international level, and to remove from 

the Order certain provisions that, given 

the current state of implementation of 

the global LEI system, are no longer 

applicable. 

III. Amended and Restated Order 

It is ordered, pursuant to Section 

21(b) of the CEA and Section 45.6 of the 

Commission’s regulations, that the 

Order, as modified by the Amendment, 

is amended and restated in its entirety 

to read as follows: 

It is hereby ordered that: 

1. Subject to Section 2(a), below, the 

Depository Trust and Clearing 

Corporation (‘‘DTCC’’) and Society for 

Worldwide Interbank Financial 

Telecommunications (‘‘SWIFT’’) joint 

venture (‘‘DTCC–SWIFT’’) is designated 

as the provider of legal entity identifiers 

(‘‘LEIs’’), to be used in recordkeeping 

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43722 Federal Register / Vol. 79, No. 144 / Monday, July 28, 2014 / Notices 

and swap data reporting pursuant to 

parts 45 and 46 of the Commission’s 

regulations. 

a. This designation is conditioned on 

DTCC–SWIFT’s continuing compliance, 

for as long as it is authorized to provide 

LEIs by this order or any future order of 

the Commission, with all of the legal 

entity identifier requirements of part 45 

of the Commission’s regulations, and 

any related requirements as set forth in 

this order or in the requirements 

document provided to DTCC–SWIFT 

during the determination and 

designation process; including, without 

limitation, the requirement to be subject 

to supervision by a governance structure 

that includes the Commission and other 

financial regulators in any jurisdiction 

requiring use of legal entity identifiers 

pursuant to applicable law, for the 

purpose of ensuring that issuance and 

maintenance of LEIs and of associated 

reference data adheres on an ongoing 

basis to the Commission’s requirements 

set forth in part 45. 

b. This designation is further 

conditioned on the requirement that, 

subject to applicable confidentiality 

laws and other applicable law, (1) 

DTCC–SWIFT shall make public all LEIs 

and associated reference data, utility 

operations, and identity validation 

processes, and (2) if DTCC–SWIFT fails 

to satisfy the conditions of this 

designation, or upon any termination of 

this designation pursuant to Section 

2(c)(2) below, DTCC–SWIFT shall, as 

instructed by the Commission, pass to a 

successor LEI utility specified by the 

Commission, or to the global LEI 

system, free of charge, all LEIs issued by 

DTCC–SWIFT and associated reference 

data and all LEI intellectual property 

rights. 

c. This designation is made for a 

limited term of one year from the date 

of this Amended and Restated Order, 

and may be terminated by the 

Commission on three months’ notice in 

connection with (1) the establishment of 

the global LEI system, or (2) DTCC– 

SWIFT’s exit from the global LEI 

system. 

2. To comply with the legal entity 

identifier requirements of parts 45 and 

46 of the Commission’s regulations: 

a. Registered entities and swap 

counterparties subject to the 

Commission’s jurisdiction may use LEIs 

provided by DTCC–SWIFT, or any other 

pre-Local Operating Unit (‘‘pre-LOU’’) 

approved by the Regulatory Oversight 

Committee of the global LEI system 

(‘‘ROC’’) as globally acceptable and as 

issuing globally acceptable LEIs. The list 

of pre-LOUs that are currently approved 

by the ROC as globally acceptable and 

as issuing globally acceptable LEIs, 

including the Web site address via 

which registered entities and swap 

counterparties may contact each such 

pre-LOU, is available at http://

www.leiroc.org/publications/gls/lou_

20131003_2.pdf. 

b. As provided in section 45.6(b)(1) of 

the Commission’s regulations, registered 

entities and swap counterparties subject 

to the Commission’s jurisdiction shall 

be identified in all swap recordkeeping 

and swap data reporting by a single LEI. 

Issued in Washington, DC, on July 22, 

2014, by the Commission. 

Christopher J. Kirkpatrick, 

Acting Secretary of the Commission. 

Appendix to Amended and Restated 

Order Designating the Provider of Legal 

Entity Identifiers To Be Used in 

Recordkeeping and Swap Data 

Reporting Pursuant to the 

Commission’s Regulations— 

Commission Voting Summary 

On this matter, Chairman Massad and 

Commissioners Wetjen, Bowen, and 

Giancarlo voted in the affirmative. No 

Commissioner voted in the negative. 

Commissioner O’Malia did not participate in 

this matter. 

[FR Doc. 2014–17643 Filed 7–25–14; 8:45 am] 

BILLING CODE 6351–01–P 

DEPARTMENT OF DEFENSE 

Office of the Secretary 

Department of Defense Science and 

Technology Reinvention Laboratory 

(STRL) Personnel Management 

Demonstration Project Program 

AGENCY: Deputy Assistant Secretary of 

Defense for Civilian Personnel Policy, 

(DASD (CPP)), Department of Defense 

(DoD). 

ACTION: This notice amends existing 

STRL Personnel Management 

Demonstration Project Programs. 

SUMMARY: STRLs will implement Senior 

Scientific Technical Manager (SSTM) 

positions, which are defined as senior 

professional scientific and technical 

positions classified above the GS–15 

level of the General Schedule (GS). The 

primary functions of these positions 

shall be (1) to engage in research and 

development in the physical, biological, 

medical, or engineering sciences, or 

another field closely related to the 

mission of such STRL; and (2) to carry 

out technical supervisory 

responsibilities. These positions may 

only be established at authorized STRLs 

with personnel demonstration projects. 

STRLs will also implement two new 

direct-hire authorities to appoint 

bachelor’s degree candidates into 

scientific and engineering positions and 

veteran candidates into scientific, 

technical, engineering, and mathematics 

positions. The current direct-hire 

authority to appoint candidates with an 

advanced degree into scientific and 

engineering positions is also being 

included in this notice so that all STRL 

direct-hire authorities are documented 

in one location. 

DATES: This notice may be implemented 

beginning on the date of publication in 

the Federal Register. 

FOR FURTHER INFORMATION CONTACT: 

Department of the Army 

• ARL: Mr. Tom Bock, Program 

Manager, ARL Personnel Demonstration 

Project, AMSRD–ARL–O–HR, 2800 

Powder Mill Road, Adelphi MD 20783– 

1197; 

• AMRDEC: Mr. Chad Marshall, 

Demonstration Project Manager, 

AMRDEC, 5400 Fowler Road, Redstone 

Arsenal, AL 35898–5000; 

• CERDEC: Ms. Desiree Roe, CERDEC 

Personnel Demonstration Project 

Administrator, Myer Center, Building 

2700, Room 2C204, ATTN: AMSRD– 

CER–HRO, Fort Monmouth, NJ 07703– 

5209; 

• ECBC: Ms. Patricia Milwicz, 

Management and Program Analyst, 

ECBC, Directorate of Program 

Integration, Workforce Management 

Office, Department of the Army, ATTN: 

RDCB–DPC–W, 5183 Blackhawk Road, 

Building 3330, Aberdeen Proving 

Ground, MD 21010–5424; 

• ERDC: Ms. Patricia Sullivan, 

Personnel Demonstration Project 

Manager, U.S. Army ERDC, 3909 Halls 

Ferry Road, Vicksburg, MS 39180–6199; 

• MRMC: Ms. Linda Krout, Personnel 

Demonstration Project Manager, 505 

Scott St., Fort Detrick, MD 21702–5000; 

• NSRDEC: Ms. Joelle Montecalvo, 

Demonstration Project Manager, 

NSRDEC, Kansas Street, (AMSRD–NSR– 

BO–W), Natick, MA 01760; 

• TARDEC: Ms. Jennifer Davis, 

TARDEC, ATTN: RDTA–CS/MS 204, 

Warren, MI 48397–5000; and 

• ARDEC: Mr. Mike Nicotra, U.S. 

Army ARDEC, Human Capital 

Management Office, Building 1, 3rd 

Floor, RDAR–EIH, Picatinny Arsenal, NJ 

07806–5000. 

Department of the Air Force: 

• AFRL: Ms. Michelle Williams, 

Personnel Demonstration Project 

Manager, AFRL, 1864 4th Street, 

Wright-Patterson Air Force Base, OH 

45433–5209. 

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