Notice of proposed rulemaking; extension of comment periods.
CFR Part: "17 CFR Parts 1, 15, 17, 19, 32, 37, 38, 140, and 150"
RIN Number: "RIN 3038-AD99; 3038-AD82"
Citation: "79 FR 37973"
EFFECTIVE DATE: The comment periods for the Aggregation Proposal published
ADDRESSES: You may submit comments, identified by RIN 3038-AD99 for the Position Limits Proposal or RIN 3038-AD82 for the Aggregation Proposal, by any of the following methods:
* Agency Web site: http://comments.cftc.gov;
* Mail: Secretary of the Commission,
* Hand delivery/courier: Same as mail, above; or
* Federal eRulemaking Portal: http://www.regulations.gov. Follow instructions for submitting comments.
Please submit your comments using only one method. All comments must be submitted in English, or if not, accompanied by an English translation. Comments will be posted as received to http://www.cftc.gov. You should submit only information that you wish to make available publicly. If you wish the Commission to consider information that may be exempt from disclosure under the Freedom of Information Act, a petition for confidential treatment of the exempt information may be submitted under
The Commission reserves the right, but shall have no obligation, to review, pre-screen, filter, redact, refuse or remove any or all of your submission from http://www.cftc.gov that it may deem to be inappropriate for publication, such as obscene language. All submissions that have been redacted or removed that contain comments on the merits of the rulemaking will be retained in the public comment file and will be considered as required under the Administrative Procedure Act and other applicable laws, and may be accessible under the Freedom of Information Act.
FOR FURTHER INFORMATION CONTACT:
The Commission has long established and enforced speculative position limits for futures and options contracts on various agricultural commodities as authorized by the Commodity Exchange Act ("CEA"). /1/ The part 150 position limits regime /2/ generally includes three components: (1) The level of the limits, which set a threshold that restricts the number of speculative positions that a person may hold in the spot-month, individual month, and all months combined, /3/ (2) exemptions for positions that constitute bona fide hedging transactions and certain other types of transactions, /4/ and (3) rules to determine which accounts and positions a person must aggregate for the purpose of determining compliance with the position limit levels. /5/ The Position Limits Proposal generally sets out proposed changes to the first and second component of the position limits regime and would establish speculative position limits for 28 exempt and agricultural commodity futures and option contracts, and physical commodity swaps that are "economically equivalent" to such contracts (as such term is used in CEA section 4a(a)(5)). /6/ The Aggregation Proposal generally sets out proposed changes to the third component of the position limits regime. /7/
FOOTNOTE 1 7 U.S.C. 1 et seq. END FOOTNOTE
FOOTNOTE 2 See 17 CFR part 150. Part 150 of the Commission's regulations establishes federal position limits on futures and option contracts in nine enumerated agricultural commodities. END FOOTNOTE
FOOTNOTE 3 See 17 CFR 150.2. END FOOTNOTE
FOOTNOTE 4 See 17 CFR 150.3. END FOOTNOTE
FOOTNOTE 5 See 17 CFR 150.4. END FOOTNOTE
FOOTNOTE 6 See Position Limits for Derivatives, 78 FR 75680 (
FOOTNOTE 7 See Aggregation of Positions, 78 FR 68946 (
In order to provide interested parties with an opportunity to comment on the Aggregation Proposal during the comment period on the Position Limits Proposal, the Commission extended the comment period for the Aggregation Proposal to
FOOTNOTE 8 See 79 FR 2394 (
Comment letters received on the Position Limits Proposal are available at http://comments.cftc.gov/PublicComments/CommentList.aspx?id=1436. Comment letters received on the Aggregation Proposal are available at http://comments.cftc.gov/PublicComments/CommentList.aspx?id=1427.
II. Extension of Comment Period
Subsequent to publication of the Position Limits Proposal and the Aggregation Proposal, Commission directed staff to schedule a
To provide commenters with a sufficient period of time to respond to questions raised and points made at the roundtable, the Commission is further extending the comment periods for the Position Limit Proposal and the Aggregation Proposal. Thus, both comment periods will end on
Acting Secretary of the Commission.
Note: The following appendix will not appear in the Code of Federal Regulations.
Appendix to Position Limits for Derivatives and Aggregation of Positions Extension of Comment Periods--Commission Voting Summary
On this matter, Chairman Massad and Commissioners O'Malia, Wetjen, and Giancarlo voted in the affirmative. No Commissioner voted in the negative. Commissioner Bowen did not participate in this matter.
[FR Doc. 2014-15618 Filed 7-2-14;
BILLING CODE 6351-01-P
Most Popular Stories
- Hispanic NASCAR Driver Ready to Make History
- James Foley Killer Could Be ID'd Via Social Media, Voice Recognition
- Bank of America Agrees to Pay Record $16.65 Billion
- Stocks Moving Higher Again for 4th Day
- U.S. Existing Home Sales Rise 4th Month Straight
- Florida's Largest Insurer Says 'Bailout' Attacks Unfair
- Swiss Suicide Tourism Doubled Since 2009
- U.S. Veteran Killed Fighting in Ukraine
- Family Dollar Will Stick With Dollar Tree
- Sears Holdings Loses $573 Million