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[Federal Register: June 22, 2001 (Volume 66, Number 121)]
[Proposed Rules]
[Page 33494]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr22jn01-17]

========================================================================
Proposed Rules
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains notices to the public of
the proposed issuance of rules and regulations. The purpose of these
notices is to give interested persons an opportunity to participate in
the rule making prior to the adoption of the final rules.

========================================================================



[[Page 33494]]



COMMODITY FUTURES TRADING COMMISSION

17 CFR Parts 3 and 170

RIN Number 3038-AB84


Notice Registration as a Futures Commission Merchant or
Introducing Broker for Certain Securities Brokers or Dealers

AGENCY: Commodity Futures Trading Commission.

ACTION: Reopening and extension of comment period.

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SUMMARY: On May 17, 2001, the Commodity Futures Trading Commission
('CFTC') published in the Federal Register a request for public
comment on a proposal to amend Rule 3.10, so as to provide notice
registration as a futures commission merchant ('FCM') or introducing
broker ('IB') for certain securities brokers or dealers ('BDs'),
and to amend Rule 170.15, so as to exempt these BDs from the
requirement to become a member of the National Futures Association
('CFTC Proposal').\1\ Among other things, these BDs would be required
to be registered with the Securities and Exchange Commission ('SEC')
and to limit their involvement with commodity interests to security
futures products. The CFTC Proposal was made in accordance with the
Commodity Futures Modernization Act of 2000 ('CFMA'). In response to
a request it has received, the CFTC is extending the comment period on
the CFTC Proposal to July 11, 2001.
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    \1\ 66 FR 27476.

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DATES: Written comments must be received on or before July 11, 2001.

ADDRESSES: Comments on the proposal should be sent to Jean A. Webb,
Secretary, Commodity Futures Trading Commission, Three Lafayette
Center, 1155 21st Street, NW, Washington, DC 20581. Comments may be
sent by facsimile transmission to (202) 418-5521, or by e-mail to
[email protected]. Reference should be made to 'Notice Registration
as a Futures Commission Merchant or Introducing Broker for Certain
Securities Brokers or Dealers.'

FOR FURTHER INFORMATION CONTACT: Barbara S. Gold, Assistant Chief
Counsel, or Lawrence B. Patent, Associate Chief Counsel, Division of
Trading and Markets, Commodity Futures Trading Commission, Three
Lafayette Center, 1155 21st Street NW, Washington, D.C. 20581, (202)
418-5450, electronic mail: [email protected], or [email protected].

SUPPLEMENTARY INFORMATION: The CFTC Proposal would provide for notice
registration as an FCM or IB for certain BDs subject to the condition
that they limit their commodity interest-related activity to security
futures products. The comment period on the CFTC Proposal expires June
18, 2001. The CFMA also authorizes notice registration as a BD with the
SEC of certain FCMs and IBs for the limited purpose of effecting
transactions in security futures products. The SEC has not, however, as
of this date published for comment in the Federal Register a notice
registration proposal for such FCMs and IBs ('SEC Proposal').
    Because it would like the opportunity to review the SEC Proposal
before commenting on the CFTC Proposal, the Futures Industry
Association ('FIA') has requested an extension of time of the comment
period on the CFTC Proposal. In response, the CFTC has determined to
extend the comment period on the CFTC Proposal until July 11, 2001 in
order to insure that an adequate opportunity is provided for submission
of meaningful comments.
    This date is intended to provide the FIA with its requested 'two-
week extension . . . from the date the SEC's release is published.'
However, in the event the date of July 11, 2001 is not sufficient to
provide for the requested two-week extension, the CFTC intends to
provide for another extension of the comment period on the CFTC
Proposal so as to in fact provide interested persons with two weeks
after the date of publication in the Federal Register of the SEC
Proposal in which to comment on the Proposal.

    Issued in Washington, D.C. on June 18, 2001 by the Commission.
Jean A. Webb,
Secretary of the Commission.
[FR Doc. 01-15724 Filed 6-21-01; 8:45 am]
BILLING CODE 6351-01-M
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