Panama Safeguards Interim Procedures

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Federal Register / Vol. 78, No. 102 / Tuesday, May 28, 2013 / Notices
Estimated time
for response
(hours)

Item

Estimated
annual
responses

Application to Extend Patent Term Under 35 U.S.C. 156 ..........................................................
Request for Interim Extension Under 35 U.S.C. 156(e)(2) .........................................................
Petition to Review Final Eligibility Decision Under 37 CFR 1.750 ..............................................
Initial Application for Interim Extension Under 35 U.S.C. 156(d)(5) ...........................................
Subsequent Application for Interim Extension Under 37 CFR 1.790 .........................................
Response to Requirement to Elect .............................................................................................
Response to Request to Identify Holder of Regulatory Approval ...............................................
Declaration to Withdraw an Application to Extend Patent Term .................................................
Petition for Reconsideration of Patent Term Adjustment Determination ....................................
Petition for Reinstatement of Reduced Patent Term Adjustment ...............................................
Petition to Accord a Filing Date to an Application Under 37 CFR 1.740 for Extension of a
Patent Term .............................................................................................................................

25
1
25
20
1
1
2
2
3
4

60
10
3
3
1
10
1
1
1,850
10

1,500
10
75
60
1
10
2
2
5,550
40

2

1

2

Totals ....................................................................................................................................

........................

1,950

7,252

Estimated Total Annual Non-hour
Respondent Cost Burden: $90. There are
no capital start-up, maintenance, or
recordkeeping costs associated with this
information collection. However, this

collection does have annual (non-hour)
costs in the form of postage costs.
There are fees associated with the
requirements for patent term extension
and patent term adjustment. These fees

are covered under OMB control number
0651–0072. The fees are listed in the
accompanying table for reference but
will not be included in the annual (nonhour) cost burden for this collection.

Item

Fee amount

Application To Extend Patent Term Under 35 U.S.C. 156 .................................................................................................
Request for Interim Extension Under 35 U.S.C. 156(e)(2) ................................................................................................
Petition To Review Final Eligibility Decision Under 37 CFR 1.750 ....................................................................................
Initial Application for Interim Extension Under 35 U.S.C. 156(d)(5) ...................................................................................
Subsequent Application for Interim Extension Under 37 CFR 1.790 .................................................................................
Response to Requirement To Elect ....................................................................................................................................
Response to Request to Identify Holder of Regulatory Approval ......................................................................................
Declaration To Withdraw an Application to Extend Patent Term .......................................................................................
Petition for Reconsideration of Patent Term Adjustment Determination ............................................................................
Petition for Reinstatement of Reduced Patent Term Adjustment ......................................................................................
Petition To Accord a Filing Date to an Application Under 37 CFR 1.740 for Extension of a Patent Term .......................

mstockstill on DSK4VPTVN1PROD with NOTICES

Estimated
annual
burden hours

Customers may incur postage costs
when submitting the information in this
collection to the USPTO by mail. The
USPTO expects that the Application to
Extend Patent Term Under 35 U.S.C.
156, the Initial Application for Interim
Extension Under 35 U.S.C. 156(d)(5),
and approximately 7% of the other
responses for this collection will be
submitted by mail. The USPTO
estimates that the average first-class
postage cost for a mailed submission
will be 46 cents and that up to 195
submissions will be mailed to the
USPTO per year, for a total estimated
postage cost of $90 per year.
The total annual (non-hour)
respondent cost burden for this
collection is estimated to be
approximately $90 per year.
IV. Request for Comments

The USPTO is soliciting public
comments to: (a) Evaluate whether the
proposed collection of information is
necessary for the proper performance of
the functions of the agency, including
whether the information will have
practical utility; (b) Evaluate the
accuracy of the agency’s estimate of the
burden of the proposed collection of
information, including the validity of
the methodology and assumptions used;
(c) Enhance the quality, utility, and
clarity of the information to be
collected; and (d) Minimize the burden
of the collection of information on those
who are to respond, including through
the use of appropriate automated,
electronic, mechanical, or other
technological collection techniques or
other forms of information technology,
e.g., permitting electronic submission of
responses.

Comments submitted in response to
this notice will be summarized and/or
included in the request for OMB
approval. All comments will become a
matter of public record.

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17:46 May 24, 2013

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PO 00000

$1,120.00.
$0.00.
$0.00.
$420.00.
$220.00.
$0.00.
$0.00.
$0.00.
$200.00.
$400.00.
(large entity) $400.00.
(small entity) $200.00.
(micro entity) $100.00.

Dated: May 22, 2013.
Susan K. Fawcett,
Records Officer, USPTO, Office of the Chief
Information Officer.
[FR Doc. 2013–12620 Filed 5–24–13; 8:45 am]
BILLING CODE 3510–16–P

COMMITTEE FOR THE
IMPLEMENTATION OF TEXTILE
AGREEMENTS
[Docket #: 130430427–3427–01; OMB
Control #: 0625–0274 (Expiration:
04/30/2016)]
RIN 0625–XC006

Interim Procedures for Considering
Requests From the Public for Textile
and Apparel Safeguard Actions on
Imports From Panama
The Committee for the
Implementation of Textile Agreements.
ACTION: Notice of interim procedures
and request for comments.
AGENCY:

SUMMARY: This notice sets forth the
interim procedures the Committee for

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Federal Register / Vol. 78, No. 102 / Tuesday, May 28, 2013 / Notices
the Implementation of Textile
Agreements (‘‘CITA’’) will follow in
implementing certain provisions of the
United States-Panama Trade Promotion
Agreement (‘‘US-Panama TPA’’). Title
III, Subtitle B, Section 321 through
Section 328 of the United States-Panama
Trade Promotion Agreement
Implementation Act (‘‘Implementation
Act’’) [Pub. L. 112–43] authorizes the
President to consider requests from the
public for textile and apparel safeguard
actions. The President has delegated to
CITA the authority to determine
whether imports of a Panamanian textile
or apparel article are causing serious
damage, or actual threat thereof, to a
domestic industry producing an article
that is like, or directly competitive with,
the imported article. CITA hereby gives
notice to interested entities of the
procedures CITA will follow in
considering such requests and solicits
public written comments on these
interim procedures.
As of May 28, 2013, CITA
intends to use these interim procedures
to process requests from the public.
CITA solicits public written comments
on the interim procedures. Comments
must be received no later than June 27,
2013 in either hard copy or
electronically.

DATES:

If submitting comments in
hard copy, an original, signed document
must be submitted to the Chairman,
Committee for the Implementation of
Textile Agreements, Room 30003, U.S.
Department of Commerce, 14th Street
and Constitution Avenue NW.,
Washington, DC 20230. If submitting
comments electronically, the electronic
copy must be submitted to
OTEXA_PANAMA@trade.gov. All
submitted comments will be posted for
public review on the Web site dedicated
to U.S.-Panama TPA textile and apparel
safeguard proceedings. The Web site is
located on the U.S. Department of
Commerce’s Office of Textile and
Apparel Web site (http://
otexa.ita.doc.gov), under ‘‘Panama
TPA’’/‘‘Safeguards.’’ Additional
instructions regarding the submission of
comments may be found at the end of
this notice.

ADDRESSES:

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FOR FURTHER INFORMATION CONTACT:

Robert Carrigg, Office of Textiles and
Apparel, U.S. Department of Commerce,
(202) 482–3400.
SUPPLEMENTARY INFORMATION:

Legal Authority: Section 321 through
Section 328 of the Implementation Act and
Proclamation No. 8894, 77 FR 66507
(November 5, 2012).

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Background
Title III, Subtitle B, Section 321
through Section 328 of the
Implementation Act implements the
textile and apparel safeguard provisions,
provided for in Article 3.24 of the USPanama TPA. The safeguard mechanism
applies when, as a result of the
elimination of a customs duty under the
US-Panama TPA, a Panamanian textile
or apparel article is being imported into
the United States in such increased
quantities, in absolute terms or relative
to the domestic market for that article,
and under such conditions as to cause
serious damage or actual threat thereof
to a U.S. industry producing a like or
directly competitive article. In these
circumstances, Article 3.24 permits the
United States to increase duties on the
imported article from Panama to a level
that does not exceed the lesser of the
prevailing U.S. most-favored-nation
(MFN) duty rate for the article or the
U.S. MFN duty rate in effect on the day
the US-Panama TPA enters into force.
The import tariff relief is effective
beginning on the date that CITA
determines that a ‘‘Panamanian textile
or apparel article,’’ as defined in Section
301(2) of the Implementation Act, is
being imported into the United States in
such increased quantities, in absolute
terms or relative to the domestic market
for that article, and under such
conditions that imports of the article
cause serious damage, or actual threat
thereof, to a U.S. industry producing an
article that is like, or directly
competitive with, the imported article.
Consistent with Section 323(a) of the
Implementation Act, the maximum
period of import tariff relief, as set forth
in Section 3 of this notice, shall be three
years. Consistent with Section 323(b) of
the Implementation Act, if the initial
period of import relief is applied for less
than three years, CITA may extend it up
to the three year maximum if CITA
determines that the continuation is
necessary to remedy or prevent serious
damage or actual threat thereof and to
facilitate adjustment by the domestic
industry to import competition, and
there is evidence that the domestic
industry is, in fact, making a positive
adjustment to import competition.
Import tariff relief may not be applied
to the same article at the same time
under these procedures if relief
previously has been granted with
respect to that article under: (1) These
procedures; (2) Subtitle A to Title III of
the Implementation Act; or (3) Chapter
1 of Title II of the Trade Act of 1974 (19
U.S.C. 2251 et seq.).
Authority to provide import tariff
relief with respect to a Panamanian

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textile or apparel article will expire five
years after the date on which the USPanama TPA enters into force.
Under Article 3.24.6 of the USPanama TPA, if the United States
provides relief to a domestic industry
under the textile and apparel safeguard,
it must provide Panama ‘‘mutually
agreed trade liberalizing compensation
in the form of concessions having
substantially equivalent trade effects or
equivalent to the value of the additional
duties expected to result from the textile
safeguard measure.’’ Such concessions
shall be limited to textile and apparel
products, unless the United States and
Panama agree otherwise. If the United
States and Panama are unable to agree
on trade liberalizing compensation,
Panama may increase customs duties
equivalently on U.S. products. The
obligation to provide compensation
terminates upon termination of the
safeguard relief. Section 327 of the
Implementation Act extends the
President’s authority to provide
compensation under Section 123 of the
Trade Act of 1974 (19 U.S.C. 2133), as
amended, to measures taken pursuant to
the US-Panama TPA’s textile and
apparel safeguard provisions.
Procedures for Requesting Textile and
Apparel Safeguard Actions
1. Requirements for Requests.
Pursuant to Section 321(a) of the
Implementation Act and Paragraph (7)
of Presidential Proclamation 8894 of
November 5, 2012, an interested party
may file a request for a textile and
apparel safeguard action with CITA.
CITA will review requests from an
interested party sent to the Chairman,
Committee for the Implementation of
Textile Agreements, Room 3100, U.S.
Department of Commerce, 14th and
Constitution Avenue NW., Washington,
DC 20230. Ten copies of any such
request must be provided. As provided
in Section 328 of the Implementation
Act, CITA will protect from disclosure
any business confidential information
that is marked ‘‘business confidential’’
to the full extent permitted by law. To
the extent that business confidential
information is provided, two copies of
a non-confidential version must also be
provided, that is identical to the
business confidential version with the
exception that any business confidential
information is summarized or, if
necessary, deleted. At the conclusion of
the request, an interested party must
attest that ‘‘all information contained in
the request is complete and accurate
and no false claims, statements, or
representations have been made.’’
Consistent with Section 321(a), CITA
will review a request initially to

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determine whether to commence
consideration of the request on its
merits. Within 15 working days of
receipt of a request, CITA will consider
the criteria set forth below to determine
whether the request provides the
information necessary for CITA to
consider the request. If the request does
not provide the necessary information,
CITA will promptly notify the requester
of the reasons for this determination and
the request will not be considered.
However, CITA will reevaluate any
request that is resubmitted with
additional information.
Consistent with longstanding CITA
practice in considering textile safeguard
actions, CITA will consider an
interested party to be an entity (which
may be a trade association, firm,
certified or recognized union, or group
of workers) that is representative of
either: (A) A domestic producer or
producers of an article that is like, or
directly competitive with, the subject
Panamanian textile or apparel article; or
(B) a domestic producer or producers of
a component used in the production of
an article that is like, or directly
competitive with, the subject
Panamanian textile or apparel article.
A request will only be considered if
the request includes the specific
information set forth below in support
of a claim that a textile or apparel article
from Panama is being imported into the
United States in such increased
quantities, in absolute terms or relative
to the domestic market for that article,
and under such conditions as to cause
serious damage, or actual threat thereof,
to a U.S. industry producing an article
that is like, or directly competitive with,
the imported article.
A. Product description. Name and
description of the imported article
concerned, including the category or
categories or part thereof of the U.S.
Textile and Apparel Category System
(see ‘‘Textile Correlation’’ at http://
otexa.ita.doc.gov/corr.htm) under which
such article is classified, the
Harmonized Tariff Schedule of the
United States subheading(s) under
which such article is classified, and the
name and description of the like or
directly competitive domestic article
concerned.
B. Import data. The following data, in
quantity by category unit (see ‘‘Textile
Correlation’’), on total imports of the
subject article into the United States and
imports from Panama into the United
States:
* Annual data for the most recent
three full calendar years for which such
data are available;
* Quarterly data for the most recent
year for which such data are partially

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available, and quarterly data for the
same quarter(s) of the previous year
(e.g., January–March 2011, April–June
2011 and January–March 2010, April–
June 2010).
The data should demonstrate that
imports of a Panamanian-origin textile
or apparel article that is like, or directly
competitive with, the article produced
by the domestic industry concerned are
increasing in absolute terms or relative
to the domestic market for that article.
C. Production data. The following
data, in quantity by category unit (see
‘‘Textile Correlation’’), on U.S. domestic
production of the like or directly
competitive article of U.S. origin
indicating the nature and extent of the
serious damage or actual threat thereof:
* Annual data for the most recent
three full calendar years for which such
data are available;
* Quarterly data for the most recent
year for which such data are partially
available, and quarterly data for the
same quarter(s) of the previous year
(e.g., January–March 2011, April–June
2011 and January–March 2010, April–
June 2010).
The requester must provide a
complete listing of all sources from
which the data were obtained and an
affirmation that to the best of the
requester’s knowledge, the data
represent substantially all of the
domestic production of the like or
directly competitive article(s) of U.S.
origin. In such cases, data should be
reported in the first unit of quantity in
the Harmonized Tariff Schedule of the
United States (http://www.usitc.gov/
tata/hts) for the Panamanian textile and/
or apparel articles and the like or
directly competitive articles of U.S.
origin.
D. Market Share Data. The following
data, in quantity by category unit (see
‘‘Textile Correlation’’), on imports from
Panama as a percentage of the domestic
market (defined as the sum of domestic
production of the like or directly
competitive article and total imports of
the subject article); on total imports as
a percentage of the domestic market;
and on domestic production of like or
directly competitive articles as a
percentage of the domestic market:
* Annual data for the most recent
three full calendar years for which such
data are available;
* Quarterly data for the most recent
year for which such data are partially
available, and quarterly data for the
same quarter(s) of the previous year
(e.g., January–March 2011, April–June
2011 and January–March 2010, April–
June 2010).
E. Additional data showing serious
damage or actual threat thereof. All

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data available to the requester showing
changes in productivity, utilization of
capacity, inventories, exports, wages,
employment, domestic prices, profits,
and investment, and any other
information, relating to the existence of
serious damage, or actual threat thereof,
caused by imports from Panama to the
industry producing the like or directly
competitive article that is the subject of
the request. To the extent that such
information is not available, the
requester should provide best estimates
and the basis therefore:
* Annual data for the most recent
three full calendar years for which such
data are available;
* Quarterly data for the most recent
year for which such data are partially
available, and quarterly data for the
same quarter(s) of the previous year
(e.g., January–March 2011, April–June
2011 and January–March 2010, April–
June 2010).
2. Consideration of Requests.
Consistent with Section 321(b) of the
Implementation Act, if CITA determines
that the request provides the
information necessary for it to be
considered, CITA will publish in the
Federal Register a notice seeking public
comments regarding the request, which
will include a summary of the request
and the date by which comments must
be received. The Federal Register notice
and the request, with the exception of
information marked ‘‘business
confidential,’’ will be posted by the
Department of Commerce’s Office of
Textiles and Apparel (‘‘OTEXA’’) on the
Internet (http://otexa.ita.doc.gov). The
comment period shall be 30 calendar
days. To the extent business
confidential information is provided, a
non-confidential version must also be
provided, that is identical to the
business confidential version with the
exception that any business confidential
information is summarized or, if
necessary, deleted. At the conclusion of
its submission of such public
comments, an interested party must
attest that ‘‘all information contained in
the comments is complete and accurate
and no false claims, statements, or
representations have been made.’’
Comments received, with the exception
of information marked ‘‘business
confidential,’’ will also be on the
Internet (http://otexa.ita.doc.gov) for
review by the public. If a comment
alleges that there is no serious damage
or actual threat thereof, or that the
subject imports are not the cause of the
serious damage or actual threat thereof,
CITA will closely review any supporting
information and documentation, such as
information about domestic production
or prices of like or directly competitive

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mstockstill on DSK4VPTVN1PROD with NOTICES

Federal Register / Vol. 78, No. 102 / Tuesday, May 28, 2013 / Notices
articles. In the case of requests
submitted by entities that are not the
actual producers of a like or directly
competitive article, particular
consideration will be given to comments
representing the views of actual
producers in the United States of a like
or directly competitive article.
Any interested party may submit
information to rebut, clarify, or correct
public comments submitted by any
other interested party at any time prior
to the deadline provided in this section
for submission of such public
comments. If public comments are
submitted less than 10 days before, or
on, the applicable deadline for
submission of such public comments,
an interested party may submit
information to rebut, clarify, or correct
the public comments no later than 10
days after the applicable deadline for
submission of public comments.
With respect to any request
considered by CITA, CITA will make a
determination within 60 calendar days
of the close of the comment period. If
CITA is unable to make a determination
within 60 calendar days, it will publish
a notice in the Federal Register and
include the date by which it will make
a determination. If CITA makes a
negative determination, it will publish
this determination and the reasons
therefore in the Federal Register.
3. Determination and Provision of
Relief. CITA shall determine whether, as
a result of the reduction or elimination
of a duty under the US-Panama TPA,
Panama’s textile or apparel article is
being imported into the United States in
such increased quantities, in absolute
terms or relative to the domestic market
for that article, and under such
conditions as to cause serious damage,
or actual threat thereof, to a domestic
industry producing an article that is
like, or directly competitive with, the
imported article. In making this
determination, CITA: (1) Shall examine
the effect of increased imports on the
domestic industry as reflected in such
relevant economic factors as output,
productivity, utilization of capacity,
inventories, market share, exports,
wages, employment, domestic prices,
profits, and investment, none of which
is necessarily decisive; and (2) shall not
consider changes in technology or
consumer preference as factors
supporting a determination of serious
damage or actual threat thereof. CITA,
without delay, will provide written
notice of its decision to the Government
of Panama and will consult with said
party upon its request.
If a determination under this section
is affirmative, CITA may provide import
tariff relief to a U.S. industry to the

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extent necessary to remedy or prevent
the serious damage or actual threat
thereof and to facilitate adjustment by
the domestic industry to import
competition. Such relief may consist of
an increase in duties to the lower of: (1)
The Normal Trade Relations (NTR)/
Most Favored Nation (MFN) duty rate in
place for the textile or apparel article at
the time the relief is granted; or (2) the
NTR/MFN duty rate for that article on
the day the US-Panama TPA enters into
force.
The import tariff relief is effective
beginning on the date that CITA’s
affirmative determination is published
in the Federal Register. The maximum
period of import tariff relief shall be
three years. However, if the initial
period for import relief is less than three
years, CITA may extend the period of
import relief to the maximum three-year
period if CITA determines that the
continuation is necessary to remedy or
prevent serious damage or actual threat
thereof by the domestic industry to
import competition, and that the
domestic industry is, in fact, making a
positive adjustment to import
competition. Import tariff relief may not
be imposed for an aggregate period
greater than three years. Import tariff
relief may not be applied to the same
article at the same time under these
procedures if relief previously has been
granted with respect to that article
under: (1) These procedures; (2) Subtitle
A to Title III of the Implementation Act;
or (3) Chapter 1 of Title II of the Trade
Act of 1974 (19 U.S.C. 2251 et seq.).
Authority to provide import tariff
relief for a textile or apparel article from
Panama that is being imported into the
United States in such increased
quantities, in absolute terms or relative
to the domestic market for that article,
and under such conditions as to cause
serious damage or actual threat thereof
to a U.S. industry producing a like or
directly competitive article, will expire
five years after the date on which the
US-Panama TPA enters into force.
4. Self Initiation. CITA may, on its
own initiative, consider whether
imports of a textile or apparel article
from Panama are being imported into
the United States in such increased
quantities, in absolute terms or relative
to the domestic market for that article,
and under such conditions as to cause
serious damage or actual threat thereof
to a U.S. industry producing a like or
directly competitive article. In such
considerations, CITA will follow
procedures consistent with those set
forth in Section 2 of this notice,
including the publishing of a notice in
the Federal Register seeking public

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comment regarding the action it is
considering.
5. Record Keeping and Business
Confidential Information. The Office of
Textiles and Apparel (OTEXA) will
maintain an official record for each
request on behalf of CITA. The official
record will include all factual
information, written argument, or other
material developed by, presented to, or
obtained by OTEXA regarding the
request, as well as other material
provided to the Department of
Commerce by other government
agencies for inclusion in the official
record. The official record will include
CITA memoranda pertaining to the
request, memoranda of CITA meetings,
meetings between OTEXA staff and the
public, determinations, and notices
published in the Federal Register. The
official record will contain material
which is public, business confidential,
privileged, and classified, but will not
include pre-decisional inter-agency or
intra-agency communications. If CITA
decides it is appropriate to consider
materials submitted in an untimely
manner, such materials will be
maintained in the official record.
Otherwise, such material will be
returned to the submitter and will not
be maintained as part of the official
record. OTEXA will make the official
record public except for business
confidential information, privileged
information, classified information, and
other information the disclosure of
which is prohibited by U.S. law.
The public record will be made
available for public inspection at the
Office of Textiles and Apparel, Room
30003, U.S. Department of Commerce,
14th and Constitution Avenue NW.,
Washington, DC, between the hours of
8:30 a.m. and 5:00 p.m. on business
days.
Information designated by the
submitter as business confidential will
normally be considered to be business
confidential unless it is publicly
available. CITA will protect from
disclosure any business confidential
information that is marked ‘‘business
confidential’’ to the full extent
permitted by law. To the extent that
business confidential information is
provided, two copies of a nonconfidential version must also be
provided, that is identical to the
business confidential version with the
exception that any business confidential
information is summarized or, if
necessary, deleted. CITA will make
available to the public non-confidential
versions of the request that is being
considered, non-confidential versions of
any public comments received with
respect to a request, and, in the event

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consultations are requested, the
statement of the reasons and
justifications for the determination
subsequent to the delivery of the
statement to Panama.

Confidential Information’’ to the full
extent permitted by law.
Janet E. Heinzen,
Acting Chairman, Committee for the
Implementation of Textile Agreements.
[FR Doc. 2013–12630 Filed 5–24–13; 8:45 am]

mstockstill on DSK4VPTVN1PROD with NOTICES

Request for Comment on the Interim
Procedures

BILLING CODE 3510–DS–P

Comments must be received no later
than June 27, 2013, and in the following
format:
(1) Comments must be in English.
(2) Comments must be submitted
electronically or in hard copy, with
original signatures.
(3) Comments submitted
electronically, via email, must be either
in PDF or Word format, and sent to the
following email address:
OTEXA_PANAMA@trade.gov. The
email version of the comments must
include an original electronic signature.
Further, the comments must have a
bolded heading stating ‘‘Public
Version’’, and no business confidential
information may be included. The email
version of the comments will be posted
for public review on the Panama TPA
Safeguard Web site.
(4) Comments submitted in hard copy
must include original signatures and
must be mailed to the Chairman,
Committee for the Implementation of
Textile Agreements, Room 30003, U.S.
Department of Commerce, 14th Street
and Constitution Avenue NW.,
Washington, DC 20230. All comments
submitted in hard copy will be made
available for public inspection at the
Office of Textiles and Apparel, Room
30003, U.S. Department of Commerce,
14th Street and Constitution Avenue
NW., Washington, DC, between the
hours of 8:30 a.m. and 5:00 p.m. on
business days. In addition, comments
submitted in hard copy will also be
posted for public review on the Panama
TPA Safeguard Web site.
(5) Any business confidential
information upon which an interested
person wishes to rely may only be
included in a hard copy version of the
comments. Brackets must be placed
around all business confidential
information. Comments containing
business confidential information must
have a bolded heading stating
‘‘Confidential Version.’’ Attachments
considered business confidential
information must have a heading stating
‘‘Business Confidential Information’’.
The Committee will protect from
disclosure any business confidential
information that is marked ‘‘Business

VerDate Mar<15>2010

17:46 May 24, 2013

Jkt 229001

COMMODITY FUTURES TRADING
COMMISSION
RIN 3038–AD96

Antidisruptive Practices Authority
Commodity Futures Trading
Commission.
ACTION: Interpretive guidance and policy
statement.
AGENCY:

SUMMARY: The Commodity Futures
Trading Commission (the
‘‘Commission’’ or ‘‘CFTC’’) is issuing
this interpretive guidance and policy
statement (‘‘interpretive statement’’) to
provide guidance on section 747 of the
Dodd-Frank Wall Street Reform and
Consumer Protection Act (the ‘‘DoddFrank Act’’), which prohibits certain
disruptive trading, practices, or conduct
as set forth in new section 4c(a)(5) of the
Commodity Exchange Act (the ‘‘CEA’’).
This interpretive statement will provide
market participants and the public with
guidance on the scope and application
of the statutory prohibitions set forth in
CEA section 4c(a)(5).
DATES: This interpretive statement will
become effective May 28, 2013.
FOR FURTHER INFORMATION CONTACT:
David Meister, Director, Division of
Enforcement, dmeister@cftc.gov,
Vincent McGonagle, Senior Deputy
Director, Division of Enforcement,
vmcgonagle@cftc.gov or Robert Pease,
Counsel to the Director of Enforcement,
202–418–5863, rpease@cftc.gov; Three
Lafayette Centre, 1151 21st Street NW.,
Washington, DC 20581.
SUPPLEMENTARY INFORMATION:

Prohibition of Disruptive Practices
I. Statutory and Regulatory Authorities
On July 21, 2010, President Obama
signed the Dodd-Frank Wall Street
Reform and Consumer Protection Act
(‘‘Dodd-Frank Act’’).1 Title VII of the
Dodd-Frank Act 2 amended the
Commodity Exchange Act (‘‘CEA’’) 3 to
1 See Dodd-Frank Wall Street Reform and
Consumer Protection Act of 2010, Public Law 111–
203, 124 Stat. 1376 (2010). The text of the DoddFrank Act may be accessed at http://www.cftc.gov./
LawRegulation/OTCDERIVATIVES/index.htm.
2 Pursuant to section 701 of the Dodd-Frank Act,
Title VII may be cited as the ‘‘Wall Street
Transparency and Accountability Act of 2010.’’
3 7 U.S.C. 1 et seq.

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establish a comprehensive new
regulatory framework for swaps and
security-based swaps. The legislation
was enacted to reduce risk, increase
transparency, and promote market
integrity within the financial system by
doing, among other things, the
following: (1) Providing for the
registration and comprehensive
regulation of swap dealers and major
swap participants; (2) imposing clearing
and trade execution requirements on
standardized derivative products; (3)
creating robust recordkeeping and realtime reporting regimes; and (4)
enhancing the Commission’s
rulemaking and enforcement authorities
with respect to, among others, all
registered entities and intermediaries
subject to the Commission’s oversight.
Section 747 of the Dodd-Frank Act
amends section 4c(a) of the CEA
(‘‘Prohibited Transactions’’) to add a
new section entitled ‘‘Disruptive
Practices.’’ New CEA section 4c(a)(5)
makes it unlawful for any person to
engage in any trading, practice, or
conduct on or subject to the rules of a
registered entity that—(A) violates bids
or offers; (B) demonstrates intentional or
reckless disregard for the orderly
execution of transactions during the
closing period; or (C) is, is of the
character of, or is commonly known to
the trade as, ‘‘spoofing’’ (bidding or
offering with the intent to cancel the bid
or offer before execution).
Dodd-Frank Act section 747 also
amends section 4c(a) of the CEA by
granting the Commission authority
under new section 4c(a)(6) of the CEA
to promulgate such ‘‘rules and
regulations as, in the judgment of the
Commission, are reasonably necessary
to prohibit the trading practices’’
enumerated therein ‘‘and any other
trading practice that is disruptive of fair
and equitable trading.’’ 4
The Commission is issuing this
interpretive guidance and policy
statement (‘‘interpretive statement’’) to
provide market participants and the
public with guidance on the manner in
which it intends to apply the statutory
prohibitions set forth in section 4c(a)(5)
of the CEA. The public has the ability
to present facts and circumstances that
would inform the application of these
policies.
4 7 U.S.C. 4(a)(6). At this time, the Commission
is only providing interpretive guidance on the
disruptive trading, practices, or conduct discussed
herein. The Commission does not foreclose
subsequent promulgation of rules and regulations
pursuant to CEA section 4c(a)(6). The Commission
also notes that new CEA section 4c(a)(5) is selfeffectuating.

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