Federal Register / Vol. 75, No. 174 / Thursday, September 9, 2010 / Proposed Rules 54801 

1 75 FR 41775 (July 19, 2010). 

with the National Futures Association 

through its electronic exemption filing 

system. Such claim must: 

(i) Provide the name, main business 

address and main business telephone 

number of the registered commodity 

pool operator, or applicant for such 

registration, making the request; 

(ii) Provide the name of the 

commodity pool for which the request 

is being made; 

(iii) Contain representations, as 

appropriate, that: 

(A) The pool will be operated in 

compliance with paragraph (b)(1)(i) of 

this section and the pool operator will 

comply with the requirements of 

paragraph (b)(1)(ii) of this section; or 

(B) The pool will be operated in 

compliance with paragraph (c)(1) of this 

section; 

(iv) Specify the relief sought under 

paragraph (b)(2) or (c)(2), as the case 

may be, of this section; and 

(v) Be filed by a representative duly 

authorized to bind the pool operator. 

(2)(i) The claim of exemption must be 

filed before the date the commodity 

pool first enters into a commodity 

interest transaction. 

(ii) The claim of exemption shall be 

effective upon filing; Provided, however, 

That any exemption claimed hereunder: 

(A) Will not be effective unless and 

until the notice required by this 

paragraph (d) contains all information 

called for herein and any statements 

required under paragraph (c)(2)(iii) of 

this section have been provided; and 

(B) Will cease to be effective upon any 

change which would render the 

representations made pursuant to 

paragraph (d)(1)(iii) of this section 

inaccurate or the continuation of such 

representations false or misleading. 

(3)(i) If a claim of exemption has been 

made under paragraph (b)(2)(i) of this 

section, the commodity pool operator 

must make a statement to that effect on 

the cover page of each offering 

memorandum, or amendment thereto, 

that it is required to file with the 

National Futures Association pursuant 

to § 4.26. 

(ii) If a claim of exemption has been 

made with respect to paragraph 

(b)(2)(iii) of this section, the pool 

operator must make a statement to that 

effect on the cover page of each annual 

report that it is required to file with the 

National Futures Association pursuant 

to § 4.22(c). 

(4)(i) Any claim of exemption 

effective hereunder shall be effective 

only with respect to the pool for which 

it has been made. 

(ii) The effectiveness of such claim 

shall not affect the obligations of the 

commodity pool operator to comply 

with all other applicable provisions of 

this part 4, the Act and the 

Commission’s regulations issued 

thereunder with respect to the pool and 

any other pool the pool operator 

operates or intends to operate. 

3. Section 4.13 is amended by: 

a. Removing the word ‘‘or’’ at the end 

of paragraph (a)(3)(iv); 

b. Removing the period at the end of 

paragraph (a)(4)(ii)(B) and adding ‘‘; or’’; 

c. Redesignating paragraph (a)(5) as 

paragraph (a)(6), and revising newly 

designated paragraph (a)(6)(i) 

introductory text; 

d. Adding new paragraph (a)(5); and 

e. Revising paragraphs (b)(1)(ii) and 

(b)(2), to read as follows: 

§ 4.13 Exemption from registration as a 

commodity pool operator. 

* * * * * 

(a) * * * 

(5) The person is acting as a director 

or trustee with respect to a pool whose 

operator is registered as a commodity 

pool operator and is eligible to claim 

relief under § 4.12(c) of this chapter, 

Provided, however, that: 

(i) The person acts in such capacity 

solely to comply with a requirement 

under the Federal securities laws that 

the pool have an audit committee 

comprised exclusively of independent 

directors or trustees; 

(ii) The person has no power or 

authority to manage or control the 

operations or activities of the pool 

except as necessary to comply with such 

requirement; and 

(iii) The registered pool operator of 

the pool is and will be liable for any 

violation of the Act or the Commission’s 

regulations by the person in connection 

with the person’s serving as a director 

or trustee with respect to the pool. 

(6)(i) Eligibility for exemption under 

paragraph (a)(1), (a)(2), (a)(3) or (a)(4) of 

this section is subject to the person 

furnishing in written communication 

physically delivered or delivered 

through electronic transmission to each 

prospective participant in the pool: 

* * * 

* * * * * 

(b)(1) * * * 

(ii) Contain the section number 

pursuant to which the operator is filing 

the notice (i.e., § 4.13(a)(1), (a)(2), (a)(3), 

(a)(4) or (a)(5), or both (a)(3) and (a)(4)) 

and represent that the pool will be 

operated in accordance with the criteria 

of that paragraph or paragraphs; and 

* * * * * 

(2) The person must file the notice by 

no later than the time that the pool 

operator delivers a subscription 

agreement for the pool to a prospective 

participant in the pool; Provided, 

however, that in the case of a claim for 

relief under § 4.13(a)(5), the person must 

file the notice by the later of the 

effective date of the pool’s registration 

statement under the Securities Act of 

1933 or the date on which the person 

first becomes a director or trustee; and 

Provided, further, that where a person 

registered with the Commission as a 

commodity pool operator intends to 

withdraw from registration in order to 

claim exemption hereunder, the person 

must notify its pool’s participants in 

written communication physically 

delivered or delivered through 

electronic transmission that it intends to 

withdraw from registration and claim 

the exemption, and it must provide each 

such participant with a right to redeem 

its interest in the pool prior to the 

person filing a notice of exemption from 

registration. 

* * * * * 

Issued in Washington, DC, on September 1, 

2010 by the Commission. 

David Stawick, 

Secretary of the Commission. 

[FR Doc. 2010–22395 Filed 9–8–10; 8:45 am] 

BILLING CODE P 

COMMODITY FUTURES TRADING 

COMMISSION 

17 CFR Part 16 

RIN 3038–AC63 

Account Ownership and Control 

Report 

AGENCY: Commodity Futures Trading 

Commission (‘‘Commission’’). 

ACTION: Extension of comment period. 

SUMMARY: The Commission is extending 

the comment period for the Notice of 

Proposed Rulemaking (‘‘NPRM’’) that 

calls for the collection of ownership, 

control and related information.1 The 

new deadline for submitting public 

comments is October 7, 2010. 

DATES: Written comments must be 

received on or before October 7, 2010. 

ADDRESSES: Comments should be sent to 

David Stawick, Secretary, Commodity 

Futures Trading Commission, Three 

Lafayette Centre, 1155 21st Street, NW., 

Washington, DC 20581. Comments may 

be submitted via e-mail at 

OCR@cftc.gov. ‘‘Account Ownership and 

Control Report’’ must be in the subject 

field of responses submitted via e-mail, 

and clearly indicated on written 

submissions. Comments may also be 

submitted by connecting to the Federal 

eRulemaking Portal at http:// 

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54802 Federal Register / Vol. 75, No. 174 / Thursday, September 9, 2010 / Proposed Rules 

1 75 FR 41775 (July 19, 2010). 

www.regulations.gov and following 

comment submission instructions. All 

comments must be submitted in 

English, or if not, must be accompanied 

by an English translation. 

FOR FURTHER INFORMATION CONTACT: 

Sebastian Pujol Schott, Associate 

Deputy Director, Market Compliance, 

202–418–5641, or Cody J. Alvarez, 

Attorney Advisor, 202–418–5404, 

Division of Market Oversight, 

Commodity Futures Trading 

Commission, Three Lafayette Centre, 

1155 21st Street, NW., Washington, DC 

20581. 

SUPPLEMENTARY INFORMATION: On July 

19, 2010, the Commission published for 

public comment a NPRM, where it 

proposed to collect certain ownership 

and control information via an account 

‘‘Ownership and Control Report’’ 

submitted weekly by all U.S. futures 

exchanges and other reporting entities. 

The NPRM established a 60-day period 

for submitting public comment, ending 

September 17, 2010. On September 16, 

2010, Commission staff intends to hold 

a public roundtable meeting at which 

invited participants will discuss issues 

arising from the Commission’s NPRM. 

Shortly after the public roundtable 

meeting, a transcript of the meeting will 

be published on the Commission’s 

Account Ownership and Control Report 

public comment page at http:// 

www.cftc.gov/LawRegulation/ 

PublicComments/10-009.html. In order 

to give interested parties time to prepare 

comments on matters that were 

discussed at the public roundtable 

meeting, the Commission has 

determined to extend the comment 

period for the NPRM by an additional 

twenty days to October 7, 2010. 

Issued in Washington, DC on September 1, 

2010 by the Commission. 

David A. Stawick, 

Secretary of the Commission. 

[FR Doc. 2010–22398 Filed 9–8–10; 8:45 am] 

BILLING CODE P 

COMMODITY FUTURES TRADING 

COMMISSION 

17 CFR Part 16 

Account Ownership and Control 

Report; Notice of Public Meeting 

AGENCY HOLDING THE MEETING: 

Commodity Futures Trading 

Commission (‘‘Commission’’). 

DATE AND TIME: Thursday, September 16, 

2010, commencing at 1 p.m. and ending 

at 4:30 p.m. 

PLACE: Three Lafayette Centre, 1155 21st 

Street, NW., Washington, DC, Lobby 

Level Hearing Room (Room 1000). 

STATUS: Open. 

MATTERS TO BE CONSIDERED: Agenda: (1) 

Sources of Ownership and Control 

Report Data; and (2) Implementation of 

the Ownership and Control Report. 

SUPPLEMENTARY INFORMATION: Notice is 

hereby given that Commission staff will 

hold a public roundtable meeting at 

which invited participants will discuss 

issues arising from the Commission’s 

notice of proposed rulemaking that calls 

for the collection of ownership, control 

and related information for all trading 

accounts active on U.S. futures 

exchanges and other reporting entities.1

Written comments on the proposed rule 

will be received until October 7, 2010. 

The meeting will be open to the public 

with seating on a first-come, first-served 

basis. Members of the public may also 

listen by telephone. Call-in participants 

should be prepared to provide their first 

name, last name, and affiliation. The 

information for the conference call is set 

forth below. 

• U.S./Canada Toll-Free: (866) 312– 

4390 

• International Toll: (404) 537–3379 

• Conference ID: 94281936 

Shortly after the public roundtable 

meeting, a transcript of the meeting will 

be published on the Commission’s 

Account Ownership and Control Report 

public comment page at http://www.

cftc.gov/LawRegulation/Public

Comments/10–009.html. 

CONTACT PERSONS AND ADDRESSES: 

Written comments should be sent to 

David Stawick, Secretary, Commodity 

Futures Trading Commission, Three 

Lafayette Centre, 1155 21st Street, NW., 

Washington, DC 20581. Comments may 

be submitted via e-mail at 

OCR@cftc.gov. ‘‘Account Ownership and 

Control Report’’ must be in the subject 

field of responses submitted via e-mail, 

and clearly indicated on written 

submissions. Comments may also be 

submitted by connecting to the Federal 

eRulemaking Portal at http:// 

www.regulations.gov and following 

comment submission instructions. All 

comments must be submitted in 

English, or if not, must be accompanied 

by an English translation. For questions, 

please contact Sauntia Warfield, 202– 

418–5084. 

Issued in Washington, DC, on September 1, 

2010 by the Commission. 

David A. Stawick, 

Secretary of the Commission. 

[FR Doc. 2010–22400 Filed 9–8–10; 8:45 am] 

BILLING CODE P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

26 CFR Part 1 

[REG–119046–10] 

RIN 1545–BJ54 

Requirement of a Statement Disclosing 

Uncertain Tax Positions 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice of proposed rulemaking 

and notice of public hearing. 

SUMMARY: This document contains 

proposed regulations allowing the IRS 

to require corporations to file a schedule 

disclosing uncertain tax positions 

related to the tax return as required by 

the IRS. This document also provides 

notice of a public hearing on these 

proposed regulations. 

DATES: Written or electronic comments 

must be received by October 12, 2010. 

Outlines of topics to be discussed at the 

public hearing scheduled for October 

15, 2010, at 10 a.m., must be received 

by October 12, 2010. 

ADDRESSES: Send submissions to: 

CC:PA:LPD:PR (REG–119046–10), room 

5205, Internal Revenue Service, P.O. 

Box 7604, Ben Franklin Station, 

Washington, DC 20044. Submissions 

may be hand-delivered Monday through 

Friday between the hours of 8 a.m. and 

4 p.m. to: CC:PA:LPD:PR (REG–119046– 

10), Courier’s Desk, Internal Revenue 

Service, 1111 Constitution Avenue, 

NW., Washington, DC, or sent 

electronically via the Federal 

eRulemaking Portal at http:// 

www.regulations.gov (IRS REG–119046– 

10). The public hearing will be held in 

the IRS Auditorium, Internal Revenue 

Building, 1111 Constitution Avenue, 

NW., Washington, DC. 

FOR FURTHER INFORMATION CONTACT: 

Concerning the proposed regulations, 

Kathryn Zuba at (202) 622–3400; 

concerning submissions of comments, 

the public hearing, and to be placed on 

the building access list to attend the 

public hearing, Oluwafunmilayo Taylor 

of the Publications and Regulations 

Branch at (202) 622–7180 (not toll-free 

numbers). 

SUPPLEMENTARY INFORMATION: 

Background 

This document contains proposed 

amendments to the Income Tax 

Regulations (26 CFR part 1) under 

section 6012 relating to the returns of 

income corporations are required to file. 

Section 6011 provides that persons 

liable for a tax imposed by Title 26 shall 

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