Document ID: SEC-2010-0711-0001
Agency: sec
Document Type: Notice
Title: Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues
Posted Date: 2010-05-13T04:00Z

[Federal Register Volume 75, Number 92 (Thursday, May 13, 2010)]
[Notices]
[Pages 27028-27029]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-11507]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 33-9123; File No. 265-26]

COMMODITY FUTURES TRADING COMMISSION

Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues

AGENCY: Securities and Exchange Commission (``SEC'') and Commodity 
Futures Trading Commission (``CFTC'') (each, an ``Agency,'' and 
collectively, ``Agencies'').

ACTION: Notice of Federal Advisory Committee Establishment.

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SUMMARY: The Chairmen of the SEC and CFTC, with the concurrence of the 
other SEC and CFTC Commissioners, respectively, intend to establish the 
Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues (the 
``Committee'').

Comments

    Because the Agencies will jointly review all comments submitted, 
interested parties may send comments to either Agency and need not 
submit responses to both Agencies. Respondents are encouraged to use 
the title ``Joint CFTC-SEC Advisory Committee'' to facilitate the 
organization and distribution of comments between the Agencies. 
Interested parties are invited to submit responses to:
    Securities and Exchange Commission: Written comments may be 
submitted by the following methods:

Electronic Comments

     Use the SEC's Internet submission form (http://www.sec.gov/rules/other.shtml); or
     Send an email to rule-comments@sec.gov.
    Please include File No. 265-26 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy, 
Secretary, Securities and Exchange Commission, 100 F St., NE., 
Washington, DC 20549. All submissions should refer to File No. 265-26.

To help the SEC process and review your comments more efficiently, 
please use only one method. The SEC staff will post all comments on the 
SEC's Internet Web site (http://www.sec.gov/rules/other.shtml). 
Comments will also be available for Web site viewing and printing in 
the SEC's Public Reference Room, 100 F St., NE., Washington, DC 20549, 
on official business days between the hours of 10 a.m. and 3 p.m. All 
comments received will be posted without change; we do not edit 
personal identifying information from your submissions. You should 
submit only information that you wish to make available publicly.
    Commodity Futures Trading Commission:
     Written comments may be mailed to the Commodity Futures 
Trading Commission, Three Lafayette Centre, 1155 21st Street, NW., 
Washington, DC 20581, attention Office of the Secretary; transmitted by 
facsimile to the CFTC at (202) 418-5521; or transmitted electronically 
to Jointcommittee@cftc.gov. Reference should be made to ``Joint CFTC-
SEC Advisory Committee.''

FOR FURTHER INFORMATION CONTACT: Ronesha Butler, Special Counsel, at 
(202) 551-5629, Division of Trading and Markets, or Elizabeth M. 
Murphy, Committee Management Officer, at (202) 551-5400, Securities and 
Exchange Commission, 100 F St., NE., Washington, DC 20549, or Martin 
White, Committee Management Officer, at (202) 418-5129, Commodity 
Futures Trading Commission, Three Lafayette Centre, 1155 21st Street, 
NW., Washington, DC 20581.

SUPPLEMENTARY INFORMATION: In accordance with the requirements of the 
Federal Advisory Committee Act, 5 U.S.C. App. 2, the Agencies are 
publishing this notice that the Chairmen of the SEC and CFTC, with the 
concurrence of the other SEC and CFTC Commissioners, intend to 
establish the Committee. The Committee's objectives and scope of 
activities are to conduct public meetings, submit reports and 
recommendations to the CFTC and the SEC and otherwise to serve as a 
vehicle for discussion and communication on regulatory issues of mutual 
concern and their effect on the CFTC's and SEC's statutory 
responsibilities. Subjects to be addressed by the Committee will 
include, but will not be limited to, identification of emerging 
regulatory risks, assessment and quantification of the impact of such 
risks and their implications for investors and market participants, and 
to further the Agencies' efforts on regulatory harmonization. The 
committee will work to develop clear and specific goals toward 
identifying and addressing emerging regulatory risks, protecting 
investors and customers, and furthering regulatory harmonization, and 
to recommend processes and procedures for achieving and reporting on 
those goals.
    To achieve the Committee's goals, the Chairmen of the SEC and CFTC 
will appoint approximately 10-15 members. There will be two co-
designated Federal officers of the committee. The Chairman of the CFTC 
will appoint a CFTC employee to serve as one co-designated federal 
officer of the committee and the Chairman of the SEC will appoint an 
SEC employee to serve as the other co-designated Federal officer of the 
committee. The co-designated federal officers jointly call all of the 
advisory committee's and subcommittees' meetings, prepare and jointly 
approve all meeting agendas, adjourn any meeting when they jointly 
determine adjournment to be in the public interest, and chair meetings 
when directed to do so. The co-designated Federal officers also will 
attend all committee and subcommittee meetings. The Chairmen of the 
CFTC and of the SEC shall serve as Co-Chairmen of the Committee. The 
Committee's membership will be fairly balanced in terms of points of 
view represented and the functions to be performed.
    The Committee's charter will be filed with the Senate Committee on 
Agriculture, Nutrition and Forestry; the House of Representatives 
Committee on Agriculture; the Senate Committee on Banking, Housing, and 
Urban Affairs; the House Committee on Financial Services, and U.S. 
General Services Administration Committee Management Secretariat 
(``Secretariat''). A copy of the charter also will be filed with the 
SEC, CFTC and the Library of Congress. The charter will be available 
for Web site viewing and printing in the Public Reference Room at the 
SEC's headquarters and posted on the SEC's Web site at http://www.sec.gov and the CFTC's Web site at http://www.cftc.gov.
    The Committee will operate for two years from the date it is 
established unless, before the expiration of that time period, its 
charter is re-established or renewed in accordance with the Federal 
Advisory Committee Act or unless either the Chairman of the SEC or the 
Chairman of the CFTC determines that the Committee's continuance is no 
longer in the public interest.
    The Committee will meet at such intervals as are necessary to carry 
out its functions. It is estimated that the meetings will occur six 
times per year. Meetings of subgroups or subcommittees of the full 
Committee may occur more frequently.
    The charter will provide that the duties of the Committee are to be 
solely

[[Page 27029]]

advisory. Each Agency alone will make any determinations of action to 
be taken and policy to be expressed with respect to matters within 
their respective authority as to which the Committee provides advice or 
makes recommendations.
    The Chairmen of the Agencies affirm that the establishment of the 
Committee is necessary and in the public interest.
    Pursuant to 41 CFR 102-3.65(b), the Secretariat has found good 
cause for approving the establishment of this advisory committee prior 
to the fifteenth day after publication of notice of establishment in 
the Federal Register so that the Committee members can quickly begin to 
identify emerging regulatory issues and their potential impact on 
investors and the securities markets. The Committee will lend the CFTC 
and SEC expertise that ranges across the securities and futures 
markets.

    By the Securities and Exchange Commission.

    Dated: May 10, 2010.
Elizabeth M. Murphy,
Committee Management Officer.

    By the Commodity Futures Trading Commission.

Martin White,
Committee Management Officer.
[FR Doc. 2010-11507 Filed 5-12-10; 8:45 am]
BILLING CODE 8010-01-P; 6351-01-P