Document ID: SEC-2014-0050-0001
Agency: sec
Document Type: Rule
Title: Responsibilities of the General Counsel
Posted Date: 2014-01-10T05:00Z

[Federal Register Volume 79, Number 7 (Friday, January 10, 2014)]
[Rules and Regulations]
[Pages 1734-1735]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-00219]

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SECURITIES AND EXCHANGE COMMISSION

17 CFR Part 200

[Release No. 34-71238]

Responsibilities of the General Counsel

AGENCY: Securities and Exchange Commission.

ACTION: Final rule.

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SUMMARY: The Securities and Exchange Commission (``Commission'') is 
amending its rules to reflect that the Commission's General Counsel is 
responsible for providing advice to Commission attorneys on 
professional responsibility issues relating to their official duties 
and investigating allegations of professional misconduct by Commission 
staff and, where appropriate, making referrals to state professional 
boards or societies.

DATES: Effective Date: January 10, 2014.

FOR FURTHER INFORMATION CONTACT: Richard M. Humes, Associate General 
Counsel, at (202) 551-5140, Securities and Exchange Commission, 100 F 
Street NE., Washington, DC 20549; Shira Pavis Minton, Ethics Counsel, 
at (202) 551-7938, Securities and Exchange Commission, 100 F Street 
NE., Washington, DC 20549.

SUPPLEMENTARY INFORMATION:

I. Discussion

    These amendments conform the Commission's regulations, in part 200 
of Title 17 of the Code of Federal Regulations, to the current 
responsibilities of the General Counsel. They do so by adding language 
that describes the General Counsel's responsibility for providing 
advice to Commission attorneys on professional responsibility issues 
relating to their official duties, investigating allegations of 
professional misconduct by Commission staff and, where appropriate, 
making referrals to state professional boards or societies. In 
addition, the amendments clarify that the Ethics Counsel is not 
responsible for investigating and potentially referring allegations of 
professional misconduct by Commission staff. Finally, the amendments 
include several minor corrections to provisions that relate to the 
responsibilities of the Ethics Counsel.

II. Related Matters

A. Administrative Procedure Act and Other Administrative Laws

    The Commission has determined that these amendments to its rules 
relate

[[Page 1735]]

solely to the agency's organization, procedure, or practice. 
Accordingly, the provisions of the Administrative Procedure Act 
regarding notice of proposed rulemaking and opportunity for public 
participation are not applicable.\1\ The Regulatory Flexibility Act, 
therefore, does not apply.\2\ Because these rules relate solely to the 
agency's organization, procedure, or practice and do not substantially 
affect the rights or obligations of non-agency parties, they are not 
subject to the Small Business Regulatory Enforcement Fairness Act.\3\ 
Finally, these amendments do not contain any collection of information 
requirements as defined by the Paperwork Reduction Act of 1995, as 
amended.\4\
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    \1\ 5 U.S.C. 553(b).
    \2\ 5 U.S.C. 601-612.
    \3\ 5 U.S.C. 804.
    \4\ 44 U.S.C. 3501-3520.
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B. Consideration of Burden on Competition

    Section 23(a)(2) of the Exchange Act requires the Commission, in 
making rules pursuant to any provision of the Exchange Act, to consider 
among other matters the impact any such rule would have on competition. 
The Commission does not believe that the amendments that the Commission 
is adopting today will have any impact on competition.

Statutory Authority

    The amendments to the Commission's rules are adopted pursuant to 15 
U.S.C. 77o, 77s, 77sss, 78d, 78d-1, 78d-2, 78w, 78ll(d), 78mm, 80a-37, 
80b-11, and 7202.

List of Subjects in 17 CFR Part 200

    Administrative practice and procedure, Authority delegations 
(Government agencies), Organization and functions (Government 
agencies).

Text of Amendments

    In accordance with the preamble, the Commission hereby amends Title 
17, Chapter II of the Code of Federal Regulations as follows:

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

Subpart A--Organization and Program Management

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

    Authority: 15 U.S.C. 77o, 77s, 77sss, 78d, 78d-1, 78d-2, 78w, 
78ll(d), 78mm, 80a-37, 80b-11, 7202, and 7211 et seq., unless 
otherwise noted.
* * * * *

0
2. In Sec.  200.21 paragraph (a), after the fourth sentence, that 
begins with ``In addition, he or she is responsible'', add two new 
sentences to read as follows:

Sec.  200.21  The General counsel.

    (a) * * * The General Counsel is responsible for providing advice 
to Commission attorneys on professional responsibility issues relating 
to their official duties. The General Counsel is further responsible 
for investigating allegations of professional misconduct by Commission 
staff and, where appropriate, making referrals to state professional 
boards or societies. * * *
* * * * *

Sec.  200.21a  [Amended]

0
3. In Sec.  200.21a:
0
a. In paragraph (a), remove the phrase ``Office of Administrative and 
Personnel Management,'' and add in its place, ``Office of Human 
Resources, the Office of Government Ethics,'';
0
b. In paragraph (b)(1), at the end of the paragraph, add the phrase 
``that relate to the Commission's Ethics Program'' before the period;
0
c. In paragraph (b)(2), at the end of the paragraph, add the phrase ``, 
which the Ethics Counsel shall refer to the General Counsel'' before 
the period;
0
d. Remove paragraph (b)(7);
0
e. Redesignate paragraph (b)(8) as (b)(7).

Subpart M--Regulation Concerning Conduct of Members and Employees 
and Former Members and Employees of the Commission

0
4. The authority citation for Part 200, Subpart M, continues to read as 
follows:

    Authority: 15 U.S.C. 77s, 77sss, 78w, 80a-37, 80b-11; E.O. 
11222, 3 CFR, 1964-1965 Comp., p. 36; 5 CFR 735.104 and 5 CFR 2634; 
and 5 CFR 2635, unless otherwise noted.

Sec.  200.735-15  [Amended]

0
5. In Sec.  200.735-15:
0
a. Remove paragraph (b).
0
b. Redesignate paragraphs (c), (d) (e) and (f) as paragraphs (b), (c), 
(d) and (e), respectively.
0
c. In the first sentence of newly redesignated paragraph (b), remove 
the words ``any Deputy Counselor or''.
0
d. In newly redesignated paragraph (c), remove the words ``and Deputy 
Counselors''. Also in newly redesignated paragraph (c), remove the 
words ``they receive'' and add in their place ``he or she receives'' 
wherever they appear.

    Dated: January 6, 2014.

    By the Commission.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2014-00219 Filed 1-9-14; 8:45 am]
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