39226 Federal Register / Vol. 73, No. 132 / Wednesday, July 9, 2008 / Rules and Regulations 

1Commission regulations referred to herein are 

found at 17 CFR Ch. I (2007). Appendix A to Part 

30, ‘‘Interpretative Statement With Respect to the 

Commission’s Exemptive Authority Under § 30.10 

of Its Rules’’ generally sets forth the elements the 

Commission will evaluate in determining whether 

a particular regulatory program may be found to be 

comparable for purposes of exemptive relief 

pursuant to Regulation 30.10. 52 FR 28990, 29001 

(Aug. 5, 1987). 

2 57 FR 49644 (Nov. 3, 1992). 

must appear conspicuously, in colorcontrasting ink, on the surface of the 

package on which printing or a label 

normally appears. If the package 

contains printing on more than one 

surface, the label must appear on the 

surface on which the product inside the 

package is described. The encircled 

capital letter ‘‘E’’ may be printed on the 

surface of the package, printed on a 

label containing other information, 

printed on a separate label, or indelibly 

stamped on the surface of the package. 

In the case of pallet loads containing 

metal halide lamp fixtures, the encircled 

capital letter ‘‘E’’ must appear 

conspicuously, in color-contrasting ink, 

on the plastic sheeting, unless clear 

plastic sheeting is used and the 

encircled capital letter ‘‘E’’ is legible 

underneath this packaging. 

■ 8. In paragraph (a)(1) of section 

305.19, add the phrase ‘‘metal halide 

lamp fixtures,’’ after the phrase 

‘‘fluorescent lamp ballasts,’’ and revise 

paragraph (a)(2) to read as follows: 

§ 305.19 Promotional material displayed or 

distributed at point of sale. 

(a) * * * 

(2) Any manufacturer, distributor, 

retailer or private labeler who prepares 

printed material for display or 

distribution at point of sale concerning 

a covered product that is a fluorescent 

lamp ballast or metal halide lamp 

fixture to which standards are 

applicable under section 325 of the Act, 

shall disclose conspicuously in such 

printed material, in each description of 

such product, an encircled capital letter 

‘‘E’’. 

* * * * * 

■ 9. In paragraph (a) of section 305.20, 

add the phrase ‘‘metal halide lamp 

fixtures,’’ after the phrase ‘‘fluorescent 

lamp ballasts,’’ and add paragraph (e) to 

read as follows: 

§ 305.20 Paper catalogs and websites. 

* * * * * 

(e) Any manufacturer, distributor, 

retailer, or private labeler who 

advertises metal halide lamp fixtures 

manufactured on or after January 1, 

2009 in a catalog prepared after July 1, 

2009, from which they may be 

purchased by cash, charge account or 

credit terms, shall disclose 

conspicuously in such catalog, in each 

description of such metal halide lamp 

fixture, a capital letter ‘‘E’’ printed 

within a circle. 

* * * * * 

By direction of the Commission. 

Richard C. Donohue, 

Acting Secretary. 

[FR Doc. E8–15243 Filed 7–8–08: 8:45 am] 

BILLING CODE 6750–01–S 

COMMODITY FUTURES TRADING 

COMMISSION 

17 CFR Part 30 

Limited Marketing Activities From a 

United States Location by Certain 

Firms and Their Employees or Other 

Representatives Exempted Under 

Commodity Futures Trading 

Commission Regulation 30.10 

AGENCY: Commodity Futures Trading 

Commission. 

ACTION: Order. 

SUMMARY: The Commodity Futures 

Trading Commission (‘‘Commission’’) is 

confirming that designated members of 

the Taiwan Futures Exchange 

(‘‘TAIFEX’’) may engage in limited 

marketing conduct with respect to 

foreign futures or options contracts 

within the U.S. through their employees 

or representatives consistent with prior 

Commission orders. This order is issued 

pursuant to Commission Regulation 

30.10, which permits persons to file a 

petition with the Commission for 

exemption from the application of 

certain of the Regulations set forth in 

Part 30 and authorizes the Commission 

to grant such an exemption if such 

action would not be otherwise contrary 

to the public interest or to the purposes 

of the provision from which exemption 

is sought. 

DATES: Effective Date: July 9, 2008. 

FOR FURTHER INFORMATION CONTACT: 

Andrew Chapin, Special Counsel, 

Division of Clearing and Intermediary 

Oversight, at (202) 418–5430 

Commodity Futures Trading 

Commission, Three Lafayette Centre, 

1155 21st Street, NW., Washington, DC 

20581. Electronic mail: 

achapin@cftc.gov. 

SUPPLEMENTARY INFORMATION: The 

Commission has issued the following 

Order: 

Order Issued Pursuant to Regulation 

30.10 Confirming That Designated 

Members of TAIFEX May Engage in 

Limited Marketing Conduct With 

Respect to Foreign Futures and Options 

Contracts Within the United States 

Through Their Employees or Other 

Representatives. 

Commission regulations governing the 

offer and sale of commodity futures and 

option contracts traded on or subject to 

the regulations of a foreign board of 

trade to customers located in the U.S. 

are contained in Part 30 of the 

Commission’s regulations.1 These 

regulations include requirements for 

intermediaries with respect to 

registration, disclosure, capital 

adequacy, protection of customer funds, 

recordkeeping and reporting, and sales 

practice and compliance procedures 

that are generally comparable to those 

applicable to transactions on U.S. 

markets. 

In formulating a regulatory program to 

govern the offer and sale of foreign 

futures and option products to 

customers located in the U.S., the 

Commission, among other things, 

considered the desirability of 

ameliorating the potential 

extraterritorial impact of such a program 

and avoiding duplicative regulation of 

firms engaged in international business. 

Based upon these considerations, the 

Commission determined to permit 

persons located outside the U.S. and 

subject to a comparable regulatory 

structure in the jurisdiction in which 

they were located to seek an exemption 

from certain of the requirements under 

Part 30 of the Commission’s regulations 

based upon substituted compliance with 

the regulatory requirements of the 

foreign jurisdiction (‘‘Regulation 30.10 

relief’’). 

On October 28, 1992, the Commission 

issued an order to permit firms that 

have obtained confirmation of 

Regulation 30.10 relief to engage in 

limited marketing conduct with respect 

to foreign futures or options contracts 

within the U.S. through their employees 

or representatives without prior 

notification to the Commission.2 The 

Commission stated that 

the success of the [Regulation] 30.10 

program as well as the existence of working 

relationships established under that program 

with foreign regulatory and self-regulatory 

authorities provide assurances that the 

conduct of [Regulation] 30.10 exempted firms 

through their employees or other 

representatives located in the United States, 

if of a limited duration and subject to proper 

supervisory controls, will not be inconsistent 

with the Commission’s obligations under the 

[Commodity Exchange Act] to ensure 

appropriate customer protection. 


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Federal Register / Vol. 73, No. 132 / Wednesday, July 9, 2008 / Rules and Regulations 39227 

3The order limited the relief to marketing 

conduct directed towards persons whose 

description in terms of sophistication and assets 

was derived generally from the definition of 

‘‘qualified eligible participant’’ (‘‘QEP’’), as defined 

in Regulation 4.7(a)(1)(ii). In 2000, the Commission 

streamlined Regulation 4.7 by combining into a 

single definition those persons formerly defined as 

QEPs and ‘‘qualified eligible clients’’ (‘‘QECs’’). As 

a result of the revision, both QEPs and QECs are 

termed ‘‘qualified eligible persons.’’ 65 FR 47848, 

47849–50 (Aug. 4, 2000). 

4 59 FR 42156 (Aug. 17, 1994). 

5 72 FR 14413 (Mar. 28, 2007) (‘‘TAIFEX Order’’). 

6The Commission has delegated to NFA certain 

responsibilities, including the responsibility to 

receive requests for confirmation of Regulation 

30.10 relief on behalf of particular firms, to verify 

such firms’ fitness and compliance with the 

conditions of the appropriate Regulation 30.10 

Order and to grant exemptive relief from 

registration to qualifying firms. 62 FR 47792, 47793 

(Sept. 11, 1997). 

To provide the appropriate level of 

customer protection, the relief was 

limited to conduct directed towards 

certain institutions and governmental 

entities as described in Regulation 4.7.3

In addition, the Commission stated that 

any person who established a fixed 

location in the U.S. for the solicitation 

or acceptance of business, or whose 

marketing activities involved long or 

repeated periods within the U.S. that 

can be characterized as a de facto fixed 

presence, would be disqualified from 

Regulation 30.10 relief and would be 

required to register with the 

Commission. On August 4, 1994, the 

Commission issued an order expanding 

the category of persons to whom 

designated firms may direct limited 

marketing conduct to include all 

‘‘accredited investors,’’ as that term is 

defined in section 230.501(a) of 

Securities and Exchange Commission 

Regulation D issued pursuant to the 

Securities Act of 1933.4 The orders 

issued by the Commission in 1992 and 

1994 are collectively known as the 

Limited Marketing Orders. 

Pursuant to the terms set forth 

therein, a foreign regulatory or selfregulatory organization must obtain a 

written confirmation from the 

Commission that the Limited Marketing 

Orders apply to firms in its jurisdiction 

with confirmed Regulation 30.10 relief. 

On March 23, 2007, the Commission 

issued an order granting relief under 

Regulation 30.10 authorizing designated 

members of TAIFEX to solicit and 

accept orders from customers located in 

the U.S. for otherwise permitted 

transactions on TAIFEX.5 By letter 

dated April 16, 2008, counsel for 

TAIFEX petitioned the Commission to 

confirm that designated TAIFEX 

members may engage in limited 

marketing conduct with respect to 

foreign futures or options contracts 

within the U.S. through their employees 

or other representatives, as set forth in 

the Limited Marketing Orders. 

As previously stated, the Commission 

believes that certain contacts between 

firms with confirmed Regulation 30.10 

relief and certain sophisticated 

customers located in the U.S., who have 

a high degree of sophistication and 

financial resources, would not be 

contrary to the public interest. 

Accordingly, the Commission has 

determined to issue this order 

permitting designated TAIFEX members 

to engage in limited marketing conduct 

with respect to foreign futures or option 

contracts within the U.S. through their 

employees or other representatives, as 

set forth in the Limited Marketing 

Orders. 

Prior to engaging in any marketing 

activity in the U.S., a TAIFEX member 

must obtain confirmation of Regulation 

30.10 relief from the National Futures 

Association (‘‘NFA’’).6 Any TAIFEX 

member operating pursuant to this order 

will remain subject to all of the terms 

and conditions set forth in the Limited 

Marketing Orders and the TAIFEX 

Order. In particular, the Commission 

notes that every order granting 

Regulation 30.10 relief has required a 

firm seeking relief under such an order 

to consent to jurisdiction in the U.S. 

under the Commodity Exchange Act and 

file with NFA a valid and binding 

appointment of an agent in the U.S. for 

service of process. 

Dated: July 3, 2008. 

By the Commission 

David Stawick, 

Secretary of the Commission. 

[FR Doc. E8–15606 Filed 7–8–08; 8:45 am] 

BILLING CODE 6351–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

26 CFR Parts 1 and 602 

[TD 9412] 

RIN 1545–BF06 

Election To Expense Certain Refineries 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Temporary regulations. 

SUMMARY: This document contains 

temporary regulations relating to the 

election to expense qualified refinery 

property under section 179C of the 

Internal Revenue Code, and affects 

taxpayers who own refineries located in 

the United States. These temporary 

regulations reflect changes to the law 

made by the Energy Policy Act of 2005. 

The text of these temporary regulations 

also serves as the text of the proposed 

regulations set forth in the notice of 

proposed rulemaking on this subject in 

the Proposed Rules section in this issue 

of the Federal Register. 

DATES: Effective Date: These regulations 

are effective on July 9, 2008. 

Applicability Date: For dates of 

applicability, see § 1.179C–1T(g). 

FOR FURTHER INFORMATION CONTACT: 

Philip Tiegerman (202) 622–3110 (not a 

toll-free number). 

SUPPLEMENTARY INFORMATION: 

Paperwork Reduction Act 

These temporary regulations are being 

issued without prior notice and public 

procedure pursuant to the 

Administrative Procedure Act (5 U.S.C. 

553). For this reason, the collection of 

information contained in these 

regulations has been reviewed and, 

pending receipt and evaluation of 

public comments, approved by the 

Office of Management and Budget under 

control number (1545–2103). Responses 

to this collection of information are 

mandatory. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless the collection of information 

displays a valid OMB control number. 

For further information concerning 

this collection of information, and 

where to submit comments on the 

collection of information and the 

accuracy of the estimated burden, and 

suggestions for reducing this burden, 

please refer to the preamble to the crossreferencing notice of proposed 

rulemaking published in the Proposed 

Rules section in this issue of the Federal 

Register. 

Books or records relating to a 

collection of information must be 

retained as long as their contents may 

become material in the administration 

of any internal revenue law. Generally, 

tax returns and tax return information 

are confidential, as required by 26 

U.S.C. 6103. 

Background 

This document contains proposed 

amendments to 26 CFR part 1 to provide 

regulations under section 179C of the 

Internal Revenue Code (Code). Section 

179C was added to the Code by section 

1323(a) of the Energy Policy Act of 

2005, Public Law 109–58 (119 Stat. 594) 

to encourage the construction of new 

refineries and the expansion of existing 

refineries to enhance the nation’s 

refinery capacity. 


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