Federal Register / Vol. 87, No. 9 / Thursday, January 13, 2022 / Rules and Regulations 2033 

1The FCPIAA, Public Law 101–410 (1990), as 

amended, is codified at 28 U.S.C. 2461 note. The 

FCPIAA states that the purpose of the FCPIAA is 

to establish a mechanism that shall (1) allow for 

regular adjustment for inflation of civil monetary 

penalties; (2) maintain the deterrent effect of civil 

monetary penalties and promote compliance with 

the law; and (3) improve the collection by the 

Federal Government of civil monetary penalties. 

2For the relevant CMPs within the Commission’s 

jurisdiction, the Act provides only for maximum 

amounts that can be assessed for each violation of 

the Act or the rules, regulations and orders 

promulgated thereunder; the Act does not set forth 

any minimum penalties. Therefore, the remainder 

of this release will refer only to CMP maximums. 

3Federal Civil Penalties Inflation Adjustment Act 

Improvements Act of 2015, Public Law 114–74, 129 

Stat. 584 (2015) (2015 Act), title VII, Section 701. 

4FCPIAA Sections 4 and 5. See also, Adjustment 

of Civil Monetary Penalties for Inflation, 81 FR 

41435 (June 27, 2016). 

5FCPIAA Sections 4 and 5. See also, Executive 

Office of the President, Office of Management and 

Budget Memorandum, M–22–07, Implementation of 

Penalty Inflation Adjustments for 2022, Pursuant to 

the Federal Civil Penalties Inflation Adjustment Act 

Improvements Act of 2015 (Dec. 15, 2021) (2021 

OMB Guidance) (https://www.whitehouse.gov/wpcontent/uploads/2021/12/M-22-07.pdf). 

6FCPIAA Section 3(2). 

7 7 U.S.C. 9, 13a–1, 13b. Criminal authorities may 

also seek fines for criminal violations of the CEA 

(see 7 U.S.C. 13, 13(c), 13(d), 13(e), and 13b). The 

FCPIA does not affect the amounts of these criminal 

penalties. 

The Class E airspace extending upward 

from 700 feet above the surface is 

amended by increasing the radius from 

6.3 miles to 6.5 miles, and eliminating 

the extension to the east. This action 

also updates geographic coordinates of 

the airport to coincide with the FAA 

database. 

FAA Order JO 7400.11, Airspace 

Designations and Reporting Points, is 

published yearly and effective on 

September 15. 

Regulatory Notices and Analyses 

The FAA has determined that this 

regulation only involves an established 

body of technical regulations for which 

frequent and routine amendments are 

necessary to keep them operationally 

current. It, therefore: (1) Is not a 

‘‘significant regulatory action’’ under 

Executive Order 12866; (2) is not a 

‘‘significant rule’’ under DOT 

Regulatory Policies and Procedures (44 

FR 11034; February 26, 1979); and (3) 

does not warrant preparation of a 

regulatory evaluation as the anticipated 

impact is minimal. Since this is a 

routine matter that only affects air traffic 

procedures an air navigation, it is 

certified that this rule, when 

promulgated, does not have a significant 

economic impact on a substantial 

number of small entities under the 

criteria of the Regulatory Flexibility Act. 

Environmental Review 

The FAA has determined that this 

action qualifies for categorical exclusion 

under the National Environmental 

Policy Act in accordance with FAA 

Order 1050.1F, ‘‘Environmental 

Impacts: Policies and Procedures,’’ 

paragraph 5–6.5a. This airspace action 

is not expected to cause any potentially 

significant environmental impacts and 

no extraordinary circumstances exist 

that warrant preparation of an 

environmental assessment. 

Lists of Subjects in 14 CFR Part 71 

Airspace, Incorporation by reference, 

Navigation (air). 

Adoption of the Amendment 

In consideration of the foregoing, the 

Federal Aviation Administration 

amends 14 CFR part 71 as follows: 

PART 71—DESIGNATION OF CLASS A, 

B, C, D, AND E AIRSPACE AREAS; AIR 

TRAFFIC SERVICE ROUTES; AND 

REPORTING POINTS 

■ 1. The authority citation for part 71 

continues to read as follows: 

Authority: 49 U.S.C. 106(f), 106(g); 40103, 

40113, 40120; E.O. 10854, 24 FR 9565, 3 CFR, 

1959–1963 Comp., p. 389. 

§ 71.1 [Amended] 

■ 2. The incorporation by reference in 

14 CFR 71.1 of FAA Order 7400.11F, 

Airspace Designations and Reporting 

Points, dated August 10, 2021, and 

effective September 15, 2021, is 

amended as follows: 

Paragraph 6005 Class E Airspace Areas 

Extending Upward From 700 Feet or More 

Above the Surface of the Earth. 

* * * * * 

ASO GA E5 Covington, GA [Amended] 

Covington Municipal Airport, GA 

(Lat. 33°37′56′′ N, long. 83°50′48′′ W) 

That airspace extending upward from 700 

feet above the surface within a 6.5 mile 

radius of Covington Municipal Airport. 

Issued in College Park, Georgia, on January 

3, 2022. 

Earl Newalu, 

Manager, Tactical Operations, Eastern 

Service Center, Air Traffic Organization. 

[FR Doc. 2022–00071 Filed 1–12–22; 8:45 am] 

BILLING CODE 4910–13–P 

COMMODITY FUTURES TRADING 

COMMISSION 

17 CFR Part 143 

RIN 3038–AF10 

Annual Adjustment of Civil Monetary 

Penalties to Reflect Inflation—2022 

AGENCY: Commodity Futures Trading 

Commission. 

ACTION: Final rule. 

SUMMARY: The Commodity Futures 

Trading Commission (Commission) is 

amending Rule 143.8, its rule that 

governs the maximum amount of civil 

monetary penalties imposed under the 

Commodity Exchange Act (CEA), to 

adjust for inflation. This rule sets forth 

the maximum, inflation-adjusted dollar 

amount for civil monetary penalties 

(CMPs) assessable for violations of the 

CEA and Commission rules, regulations 

and orders thereunder. The rule, as 

amended, implements the Federal Civil 

Penalties Inflation Adjustment Act of 

1990, as amended. 

DATES: This rule is effective on January 

13, 2022 and is applicable to penalties 

assessed after January 15, 2022. 

FOR FURTHER INFORMATION CONTACT: 

Edward J. Riccobene, Associate Chief 

Counsel, Division of Enforcement, at 

(202) 418–5327 or ericcobene@cftc.gov, 

Commodity Futures Trading 

Commission, 1155 21st Street NW, 

Washington, DC 20581. 

SUPPLEMENTARY INFORMATION: 

I. Background 

The Federal Civil Penalties Inflation 

Adjustment Act of 1990 (FCPIAA) 1

requires the head of each Federal agency 

to periodically adjust for inflation the 

minimum and maximum amount of 

CMPs provided by law within the 

jurisdiction of that agency.2 A 2015 

amendment to the FCPIAA 3 required 

agencies to make an initial ‘‘catch-up’’ 

adjustment to its civil monetary 

penalties effective no later than August 

1, 2016.4 For every year thereafter 

effective not later than January 15th, the 

FCPIAA, as amended, requires agencies 

to make annual adjustments for 

inflation, with guidance from the 

Director of the Office of Management 

and Budget.5

II. Commodity Exchange Act Civil 

Monetary Penalties 

The following sections of the CEA 

provide for CMPs that meet the FCPIAA 

definition 6 and these CMPs are, 

therefore, subject to the inflation 

adjustment: Sections 6(c), 6b, and 6c of 

the CEA.7

III. Annual Inflation Adjustment for 

Commodity Exchange Act Civil 

Monetary Penalties 

A. Methodology 

The FCPIAA annual inflation 

adjustment, in the context of the CFTC’s 

CMPs, is determined by increasing the 

maximum penalty by a ‘‘cost-of-living 


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2034 Federal Register / Vol. 87, No. 9 / Thursday, January 13, 2022 / Rules and Regulations 

8FCPIAA Sections 4 and 5. 

9FCPIAA Section 5(b)(1). 

10The CPI–U is published by the Department of 

Labor. Interested parties may find the relevant 

Consumer Price Index on the internet. To access 

this information, go to the Consumer Price Index 

Home Page at: http://www.bls.gov/cpi/. Click the 

‘‘CPI Data/Databases’’ heading, and select ‘‘All 

Urban Consumers (Current Series)’’, ‘‘Top Picks.’’ 

Then check the box for ‘‘U.S. city average, All 

items—CUUR0000SA0’’, and click the ‘‘Retrieve 

data’’ button. 

11FCPIAA Section 5(a). See also, 2021 OMB 

Guidance at 3. 

12FCPIAA Section 6. 

13FCPIAA Section 4(b)(2). 

14 2021 OMB Guidance at 3–4. 

15 Lake Carriers’ Ass’n v. E.P.A., 652 F.3d 1, 10 

(D.C. Cir. 2011). 

16 5 U.S.C. 601–612. 

17 5 U.S.C. 603(a). 

18 44 U.S.C. 3507(d). 

19 7 U.S.C. 19(a). 

adjustment’’, rounded to the nearest 

multiple of one dollar.8 Annual 

inflation adjustments are based on the 

percent change between the October 

Consumer Price Index for all Urban 

Consumers (CPI–U) preceding the date 

of the adjustment, and the prior year’s 

October CPI–U.9 In this case, the 

October 2021 CPI–U (276.589)/October 

2020 CPI–U (260.388) = 1.06222.10 In 

order to complete the 2022 annual 

adjustment, the CFTC must multiply 

each of its most recent CMP amounts by 

the multiplier, 1.06222, and round to 

the nearest dollar.11

B. Civil Monetary Penalty Adjustments 

Applying the FCPIAA annual 

inflation adjustment methodology 

results in the following amended CMPs: 

Violations occurring on or after 11/02/2015 

U.S. Code citation Civil monetary penalty description Penalty 

amount 

in 2021 

Final Rule 1

CPI–U 

multiplier 

New adjusted 

penalty 

amount 

Civil Monetary Penalty Imposed by the Commission in an Administrative Action 

7 U.S.C. 9 (Section 6(c) of the 

Commodity Exchange Act).

For any person other than a registered entity 2.

Non-Manipulation or Attempted Manipulation.$170,129 1.06222 $180,714 

For any person other than a registered entity 2.

Manipulation or Attempted Manipulation.1,227,202 1.06222 1,303,559 

7 U.S.C. 13a (Section 6b of the 

Commodity Exchange Act).

For a registered entity 2 or any of its 

directors, officers or employees.

Non-Manipulation or Attempted Manipulation.937,161 1.06222 995,471 

For a registered entity 2 or any of its 

directors, officers or employees.

Manipulation or Attempted Manipulation.1,227,202 1.06222 1,303,559 

Civil Monetary Penalty Imposed by a Federal District Court in a Civil Injunctive Action 

7 U.S.C. 13a–1 (Section 6c of the 

Commodity Exchange Act).

Any Person ...................................... Non-Manipulation or Attempted Manipulation.187,432 1.06222 199,094 

Any Person ...................................... Manipulation or Attempted Manipulation.1,227,202 1.06222 1,303,559 

1Annual Adjustment of Civil Monetary Penalties to Reflect Inflation—2021, 86 FR 7802 (Feb. 2, 2021). 

2The term ‘‘Registered Entity’’ is defined in 7 U.S.C. 1a (Section 1a of the Commodity Exchange Act). 

The FCPIAA provides that any 

increase under the FCPIAA in a civil 

monetary penalty shall apply only to 

civil monetary penalties, including 

those whose associated violation 

predated such increase, which are 

assessed after the date the increase takes 

effect.12 Thus, the new CMP amounts 

established by this rulemaking shall 

apply to penalties assessed after January 

15, 2022, for violations that occurred on 

or after November 2, 2015, the effective 

date of the FCPIAA amendment 

requiring annual adjustments, the 2015 

Act. 

IV. Administrative Compliance 

A. Notice Requirement 

The FCPIAA specifically exempted 

from the Administrative Procedure Act 

(APA) the rulemakings required to 

implement annual inflation 

adjustments.13 This means that the 

public procedure the APA generally 

requires—notice, an opportunity for 

comment, and a delay in effective 

date—is not required for agencies to 

issue regulations implementing the 

annual adjustment.14 The Commission 

further notes that the notice and 

comment procedures of the APA do not 

apply to this rulemaking because the 

Commission is acting herein pursuant to 

statutory language that mandates that 

the Commission act in a 

nondiscretionary matter.15

B. Regulatory Flexibility Act 

The Regulatory Flexibility Act 16

requires agencies with rulemaking 

authority to consider the impact of 

certain of their rules on small 

businesses. A regulatory flexibility 

analysis is only required for rule(s) for 

which the agency publishes a general 

notice of proposed rulemaking pursuant 

to section 553(b) or any other law.17

Because, as discussed above, the 

Commission is not obligated by section 

553(b) or any other law to publish a 

general notice of proposed rulemaking 

with respect to the revisions being made 

to Rule 143.8, the Commission 

additionally is not obligated to conduct 

a regulatory flexibility analysis. 

C. Paperwork Reduction Act 

The Paperwork Reduction Act of 1995 

(PRA),18 which imposes certain 

requirements on Federal agencies, 

including the Commission, in 

connection with their conducting or 

sponsoring any collection of 

information as defined by the PRA, does 

not apply to this rule. This rule 

amendment does not contain 

information collection requirements that 

require the approval of the Office of 

Management and Budget. 

D. Consideration of Costs and Benefits 

Section 15(a) of the CEA 19 requires 

the Commission to consider the costs 

and benefits of its action before issuing 

a new regulation. Section 15(a) of the 

CEA further specifies that costs and 

benefits shall be evaluated in light of 

five broad areas of market and public 

concern: (1) Protection of market 

participants and the public; (2) 

efficiency, competitiveness, and 

financial integrity of futures markets; (3) 

price discovery; (4) sound risk 

management practices; and (5) other 

public interest considerations. 

The Commission believes that 

benefits of this rulemaking greatly 

outweigh the costs, if any. As the 

Commission understands, the statutory 


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Federal Register / Vol. 87, No. 9 / Thursday, January 13, 2022 / Rules and Regulations 2035 

provisions by which it is making costof-living adjustments to the CMPs in 

Rule 143.8 were enacted to ensure that 

CMPs do not lose their deterrence value 

because of inflation. An analysis of the 

costs and benefits of these adjustments 

were made before enactment of the 

statutory provisions under which the 

Commission is operating, and limit the 

discretion of the Commission to the 

extent that there are no regulatory 

choices the Commission could make 

that would supersede the pre-enactment 

analysis with respect to the five factors 

enumerated in Section 15(a) of the CEA, 

or any other factors. 

List of Subjects in 17 CFR Part 143 

Claims, Penalties. 

For the reasons set forth in the 

preamble, the Commodity Futures 

Trading Commission amends part 143 of 

chapter I of title 17 of the Code of 

Federal Regulations as follows: 

PART 143—COLLECTION OF CLAIMS 

OWED THE UNITED STATES ARISING 

FROM ACTIVITIES UNDER THE 

COMMISSION’S JURISDICTION 

■ 1. The authority citation for part 143 

continues to read as follows: 

Authority: 7 U.S.C. 9, 9a, 12a(5), 13a, 13a– 

1(d), 13(a), 13b; 31 U.S.C. 3701–3720E; 28 

U.S.C. 2461 note. 

■ 2. Amend § 143.8 by revising 

paragraph (b) to read as follows: 

§ 143.8 Inflation-adjusted civil monetary 

penalties. 

* * * * * 

(b) 2022 Inflation adjustment. The 

maximum amount of each civil 

monetary penalty in the following 

charts applies to penalties assessed after 

January 15, 2022: 

(1) For Non-Manipulation or 

Attempted Manipulation Violations: 

TABLE 1 TO PARAGRAPH (b)(1) 

U.S. Code citation Civil monetary penalty description 

Date of violation and corresponding penalty 

10/23/2004 

through 

10/22/2008 

10/23/2008 

through 

10/22/2012 

10/23/2012 

through 

11/01/2015 

11/02/2015 

to present 

Civil Monetary Penalty Imposed by the Commission in an Administrative Action 

7 U.S.C. 9 (Section 6(c) of the Commodity Exchange Act).For any person other than a registered entity 1.$130,000 $130,000 $140,000 $180,714 

7 U.S.C. 13a (Section 6b of the 

Commodity Exchange Act).

For a registered entity 1 or any of its 

directors, officers or employees.

625,000 675,000 700,000 995,471 

Civil Monetary Penalty Imposed by a Federal District Court in a Civil Injunctive Action 

7 U.S.C. 13a–1 (Section 6c of the 

Commodity Exchange Act).

Any Person ....................................... 130,000 140,000 140,000 199,094 

1The term ‘‘Registered Entity’’ is defined in 7 U.S.C. 1a (Section 1a of the Commodity Exchange Act). 

(2) For Manipulation or Attempted 

Manipulation Violations: 

TABLE 2 TO PARAGRAPH (b)(2) 

U.S. Code citation Civil monetary penalty description 

Date of violation and corresponding penalty 

10/23/2004 

through 

05/21/2008 

05/22/2008 

through 

08/14/2011 

08/15/2011 

through 

11/01/2015 

11/02/2015 

to Present 

Civil Monetary Penalty Imposed by the Commission in an Administrative Action 

7 U.S.C. 9 (Section 6(c) of the Commodity Exchange Act).For any person other than a registered entity 1.$130,000 $1,000,000 $1,025,000 $1,303,559 

7 U.S.C. 13a (Section 6b of the 

Commodity Exchange Act).

For a registered entity 1 or any of its 

directors, officers or employees.

625,000 1,000,000 1,025,000 1,303,559 

Civil Monetary Penalty Imposed by a Federal District Court in a Civil Injunctive Action 

7 U.S.C. 13a–1 (Section 6c of the 

Commodity Exchange Act).

Any Person ....................................... 130,000 1,000,000 1,025,000 1,303,559 

1The term ‘‘Registered Entity’’ is defined in 7 U.S.C. 1a (Section 1a of the Commodity Exchange Act). 

Issued in Washington, DC, on January 10, 

2022, by the Commission. 

Robert Sidman 

Deputy Secretary of the Commission. 

Note: The following appendix will not 

appear in the Code of Federal Regulations. 

Appendix to Adjustment of Civil 

Monetary Penalties for Inflation— 

2022—Commission Voting Summary 

On this matter, Chairman Behnam and 

Commissioner Stump voted in the 

affirmative. No Commissioner voted in the 

negative. 

[FR Doc. 2022–00595 Filed 1–12–22; 8:45 am] 

BILLING CODE 6351–01–P 


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