Document ID: SEC-2014-1651-0001
Agency: sec
Document Type: Rule
Title: Delegation of Authority to the Chief Financial Officer
Posted Date: 2014-10-01T04:00Z

[Federal Register Volume 79, Number 190 (Wednesday, October 1, 2014)]
[Rules and Regulations]
[Pages 59104-59105]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-23394]

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SECURITIES AND EXCHANGE COMMISSION

17 CFR Part 200

[Release No. 34-73229]

Delegation of Authority to the Chief Financial Officer

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 to the Chief Financial Officer the 
authority granted to the Commission by Section 21F(g)(4) of the 
Securities and Exchange Act of 1934 (``Exchange Act'') to request that 
the Secretary of the Treasury invest the portion of the Commission's 
whistleblower reward fund that, in its discretion, is not required to 
meet the current needs of the fund, and determine the maturities for 
those investments suitable to the needs of the fund. These changes are 
intended to streamline the operation of the Commission by delegating to 
staff certain routine financial responsibilities.

DATES: Effective September 29, 2014.

FOR FURTHER INFORMATION CONTACT: Kenneth Johnson, Chief Financial 
Officer, at (202) 551-5472 or Caryn Kauffman, Deputy Chief Financial 
Officer, at (202) 551-8834, Securities and Exchange Commission, 100 F 
Street NE., Washington, DC 20549.

SUPPLEMENTARY INFORMATION:

I. Discussion

    Section 21F(g)(1) of the Exchange Act establishes the Securities 
and Exchange Commission Investor Protection Fund (``Fund''),\1\ which 
is available to pay awards to whistleblowers (as provided in Section 
21F(b)), and to fund certain activities of the Commission's Inspector 
General.\2\ The Commission may request that the Secretary of the 
Treasury invest the portion of the Fund that is not, in the discretion 
of the Commission, required to meet the current needs of the Funds.\3\ 
The Secretary of the Treasury must invest such funds in obligation of 
the United States, ``within maturities suitable to the needs of the 
funds of the Fund as determined by the Commission on the record.'' \4\
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    \1\ 14 U.S.C. 78u-6(g)(1).
    \2\ 15 U.S.C. 78u-6(g)(2).
    \3\ 15 U.S.C. 78u-6(g)(4)(A).
    \4\ 15 U.S.C. 78u-6(g)(4)(B).
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    The Commission is amending it rules to delegate to the Chief 
Financial Officer the authority, in accordance with section 21F(g)(4), 
to make requests to the Secretary of the Treasury to invest the Fund's 
monies that are not, in his or her discretion, required to meet the 
current needs of the Fund and to determine what maturities for these 
investments are suitable to the needs of the Fund.
    The Office of Financial Management, headed by the Chief Financial 
Officer, is responsible for managing the financial matters of the 
Commission. In providing the Chief Financial Officer with the authority 
to perform these additional functions, this amendment is intended to 
streamline the efficient operation of the Commission.

II. Administrative Law Matters

    The Commission has determined that these amendments relate 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.\5\ The Regulatory Flexibility Act, therefore, does not 
apply.\6\ 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.\7\ Finally, 
these amendments do not contain any collection of information 
requirements as defined by the Paperwork Reduction Act of 1995, as 
amended.\8\ Further, because the amendments impose no new burdens on 
private persons, the Commission does not believe that the amendments 
will have any impact on competition for purposes of Section 23(a) (2) 
of the Exchange Act.

[[Page 59105]]

Accordingly, the amendments are effective October 1, 2014.
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    \5\ 5 U.S.C. 553(b).
    \6\ 5 U.S.C. 601 through 612.
    \7\ 5 U.S.C. 804.
    \8\ 44 U.S.C. 3501 through 3520.
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Statutory Authority

    The amendments to the Commission's rules are adopted pursuant to 15 
U.S.C. 77o, 77s, 77sss, 77d, 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, 77d, 78d-1, 78d-2, 78o-4, 
78w, 78ll(d), 78mm, 80a-37, 80b-11, 7202, and 7211 et seq. unless 
otherwise noted.
* * * * *

0
2. Section 200.30-13 is amended by adding paragraph (c) to read as 
follows.

Sec.  200.30-13  Delegation of authority to Chief Financial Officer.

* * * * *
    (c) Pursuant to section 21F(g)(4) of the Securities and Exchange 
Act of 1934 (15 U.S.C. 78u-6(g)(4)), the making of requests to the 
Secretary of the Treasury to invest the portion of the Securities and 
Exchange Commission Investor Protection Fund that is not, in his or her 
discretion, required to meet the current needs of the fund, and the 
determination of the maturities for those investments suitable to the 
needs of the fund.

    By the Commission.

    Dated: September 26, 2014.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-23394 Filed 9-29-14; 11:15 am]
BILLING CODE 8011-01-P