Document ID: SEC-2006-1588-0001
Agency: sec
Document Type: Rule
Title: Delegation of Authority to Chief Administrative Law Judge
Posted Date: 2006-12-08T05:00Z

[Federal Register: December 8, 2006 (Volume 71, Number 236)]
[Rules and Regulations]               
[Page 71037]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr08de06-1]                         

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Rules and Regulations
                                                Federal Register
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[[Page 71037]]

SECURITIES AND EXCHANGE COMMISSION

17 CFR Part 200

[Release No. 34-54867]

 
Delegation of Authority to Chief Administrative Law Judge

AGENCY: Securities and Exchange Commission.

ACTION: Final rule.

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SUMMARY: The Securities and Exchange Commission (``Commission'') is 
amending its rules to delegate authority to the Chief Administrative 
Law Judge to issue orders to discontinue administrative proceedings as 
to a particular respondent who has died or cannot be found, or because 
of a mistake in the identity of a respondent named in the order for 
proceedings. The delegation is intended to conserve Commission 
resources, as well as expedite disposition of administrative 
proceedings.

EFFECTIVE DATE: January 8, 2007.

FOR FURTHER INFORMATION CONTACT: Geoffrey D. Kruczek, Office of 
Administrative Law Judges, (202) 551-6030, Securities and Exchange 
Commission, 100 F Street, NE., Washington, DC 20549-2557.

SUPPLEMENTARY INFORMATION: The Commission today is amending its rules 
governing the delegation of authority to the Chief Administrative Law 
Judge. The Commission's Office of the General Counsel has delegated 
authority to grant motions of staff counsel to discontinue 
administrative proceedings as to a particular respondent who has died 
or cannot be found, or because of a mistake in the identity of a 
respondent named in the order for proceedings.\1\ The Commission has 
determined to extend this delegation to the Chief Administrative Law 
Judge.\2\ The Commission believes that this delegation will conserve 
Commission and staff resources, as well as expedite the disposition of 
staff motions prompted by these circumstances. Nevertheless, the staff 
may submit motions to the Commission for consideration, as it deems 
appropriate. The amendment also deletes reference to the Public Utility 
Holding Company Act of 1935, which has been repealed.
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    \1\ 17 CFR 200.30-14(g)(1)(vi).
    \2\ 17 CFR 200.30-10.
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Administrative Law Matters

    The Commission finds, in accordance with section 553(b)(A) of the 
Administrative Procedure Act, 5 U.S.C. 553(b)(A), that this amendment 
relates solely to agency organization, procedure or practice. 
Accordingly, notice and opportunity for public comment are unnecessary. 
Because notice and comment are not required for this final rule, a 
regulatory flexibility analysis is not required under the Regulatory 
Flexibility Act.\3\ Because the rule relates to ``agency organization, 
procedure or practice that does not substantially affect the rights or 
obligations of non-agency parties,'' it is not subject to the Small 
Business Regulatory Enforcement Fairness Act.\4\
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    \3\ See 5 U.S.C. 603.
    \4\ See 5 U.S.C. 804(3)(C).
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    Section 23(a)(2) of the Securities Exchange Act of 1934 requires 
the Commission, in adopting rules under such Act, to consider the 
anticompetitive effects of any rules it adopts. The Commission does not 
believe this rule will have any impact on competition because it 
imposes no new burden on respondents in administrative proceedings, and 
is intended to expedite disposition of those proceedings. The rule does 
not contain any collection of information requirements as defined by 
the Paperwork Reduction Act of 1995, as amended.\5\ The rule will not 
impose any costs on the public.
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    \5\ See 44 U.S.C. 3501 et seq.
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Statutory Basis and Text of Amendment

    This amendment to the Commission's delegations is being adopted 
pursuant to statutory authority granted to the Commission, including 
section 3 of the Sarbanes-Oxley Act of 2002, 15 U.S.C. 7202; section 19 
of the Securities Act of 1933, 15 U.S.C. 77s; sections 4A, 19, and 23 
of the Securities Exchange Act of 1934, 15 U.S.C. 78d-1, 78s, 78w; 
section 319 of the Trust Indenture Act of 1939, 15 U.S.C. 77sss; 
sections 38 and 40 of the Investment Company Act of 1940, 15 U.S.C. 
80a-37 and 80a-39; and section 211 of the Investment Advisers Act of 
1940, 15 U.S.C. 80b-11.

List of Subjects in 17 CFR Part 200

    Authority delegations (Government agencies).

Text of Adopted Rule

0
For the reasons set out in the preamble, Title 17, Chapter II of the 
Code of Federal Regulations is amended as follows:

PART 200--ORGANIZATION; CONDUCT AND ETHICS; AND INFORMATION AND 
REQUESTS

0
1. The authority citation for part 200, subpart A, continues to read as 
follows:

    Authority: 15 U.S.C. 77s, 77o, 77sss, 78d, 78d-1, 78d-2, 78w, 
78ll(d), 78mm, 80a-37, 80b-11, and 7202, unless otherwise noted.

0
2. Section 200.30-10 is amended by:
0
a. Removing ``the Public Utility Holding Company Act of 1935, 15 U.S.C. 
79a et seq.,'' in the introductory text to paragraph (a);
0
b. Removing the period at the end of paragraph (a)(7) and in its place 
adding a semicolon; and
0
c. Adding paragraph (a)(8).
    The addition reads as follows:

Sec.  200.30-10  Delegation of authority to Chief Administrative Law 
Judge.

* * * * *
    (a) * * *
    (8) To grant motions of staff counsel to discontinue administrative 
proceedings as to a particular respondent who has died or cannot be 
found, or because of a mistake in the identity of a respondent named in 
the order for proceedings.
* * * * *

    Dated: December 4, 2006.

    By the Commission.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E6-20884 Filed 12-7-06; 8:45 am]

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