[Federal Register: January 22, 1998 (Volume 63, Number 14)]
[Proposed Rules]
[Page 3285-3289]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr22ja98-16]
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COMMODITY FUTURES TRADING COMMISSION
17 CFR Part 140
Requests for Exemptive, No-Action and Interpretative Letters
AGENCY: Commodity Futures Trading Commission.
ACTION: Proposed rule.
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SUMMARY: The Commodity Futures Trading Commission ("Commission") is
proposing new regulations to establish procedures for the filing of
requests for the issuance of exemptive, no-action and interpretative
letters from the Commission's staff.
DATES: Comments on the proposed rule must be received on or before
March 23, 1998.
ADDRESSES: Comments on the proposed rule should be sent to Jean A.
Webb, Secretary, Commodity Futures Trading Commission, Three Lafayette
Center, 1155 21st Street, N.W., Washington, D.C. 20581. Comments may be
sent by facsimile transmission to (202) 418-5528, or by e-mail to
[email protected]. Reference should be made to "Rule Proposal Re:
Requests for Exemptive, No-Action, and Interpretative Letters."
FOR FURTHER INFORMATION CONTACT: Christopher W. Cummings, Special
Counsel, or Helene D. Schroeder, Attorney-Adviser, Division of Trading
and Markets, Commodity Futures Trading Commission, Three Lafayette
Centre, 1155 21st Street, N.W., Washington, D.C., 20581. Telephone:
(202) 418-5450.
SUPPLEMENTARY INFORMATION:
I. Requests for Exemptive, No-Action and Interpretative Letters
A. Background
In the course of administering the Commodity Exchange Act ("Act")
\1\ and the rules, regulations and orders promulgated thereunder by the
Commission,\2\ Commission staff receive written requests for advice on
or interpretation of particular provisions of the Act or Commission
rules to proposed conduct or transactions. If appropriate, Commission
staff provide the advice or guidance sought through the issuance of
exemptive, no-action or interpretative letters ("Letters").\3\
Currently, there are no Commission rules setting forth procedures for
requests for Letters.\4\
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\1\ 7 U.S.C. Sec. 1 et seq. (1994).
\2\ Commission regulations are found at 17 C.F.R. Ch. I et seq.
\3\ These types of letters are proposed to be defined in Rule
140.99 (a)(1), (a)(2), and (a)(3), respectively, and each is
discussed in Part b, below.
\4\ By contrast, since 1971, the Securities and Exchange
Commission ("SEC") has required conformity with certain procedures
by persons submitting requests for no-action or interpretative
letters. See Securities Act Release No. 5127, 36 FR 2600 (Jan. 25,
1971) (prescribed procedures for requests under the Securities Act
of 1933, Securities Exchange Act of 1934, Public Utility Holding
Company Act of 1935, Trust Indenture Act of 1939, Investment Company
Act of 1940 and Investment Advisers Act of 1940). Some of these
procedures have been modified or supplemented by SEC staff. See,
e.g., Securities Act Release No. 6253, 45 FR 72644 (Oct. 28, 1980)
(institution of abbreviated response procedures by Division of
Corporation Finance); and Securities Act Release No. 6269 (Dec. 5,
1980) (institution of seven-copy requirement for requests to
Division of Corporation Finance).
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The Commission is of the view that establishment of uniform
procedural rules governing these requests will significantly assist the
Commission and its staff by assuring a focused presentation of the
guidance sought, the issues raised thereby, and relevant precedent. The
Commission is therefore now proposing uniform procedures for the filing
of requests for exemptive, no-action or interpretative letters. These
procedures are intended to elicit from the outset the information that
staff will need to evaluate a request, and to minimize staff resources
expended in seeking additional information.
Letters generally should be requested from (and, if appropriate,
issued by) Commission staff in instances where the need for guidance or
clarification of a rule's applicability arises from relatively routine
circumstances. The Commission believes that the best mechanism for
handling novel or complex issues, significant gaps in regulatory
coverage, relief from regulatory requirements or initiatives for
regulatory reform generally is the notice and comment rulemaking
process or, where appropriate, exemptive action by the Commission
itself after notice and public comment. This is especially true where a
perceived issue is likely to affect a large number of persons or
entities. Accordingly, the Commission reminds registrants, counsel and
the public that it is receptive to public and industry input
(including, for example, petitions for rulemaking actions and petitions
for Commission exemptive action or other orders) in the continuing
process of adapting its regulatory frame-work to changing market
circumstances. The Commission also notes that, notwithstanding the
requirements for Letters set forth herein, registrants, other industry
participants, counsel and members of the public should feel free to
seek information from Commission staff in those situations where they
do not require no-action relief, or a formal interpretation of
statutory or regulatory provisions.
Although not required to do so (see II. Related Matters, below),
the Commission invites public comment on this proposal.
B. The Proposed Rule
1. Definitions
Paragraph (a) of the proposed rule sets forth definitions for
exemptive, no-action and interpretative letters. The term "exemptive"
letter is defined as a written grant of relief to a specified person
from the applicability of a specific provision of the Act or a
Commission rule, regulation or order. Exemptive letters may be issued
by Commission staff only in those situations where: (a) the Commission
itself has exemptive authority; and (b) that authority has been
delegated to staff.\5\
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\5\ The proposed rule governs requests submitted to and
processed by Commission staff. In certain circumstances, however,
requests must be submitted to and processed by the Commission
itself. For example, where exemptive authority has not been
delegated to the staff, exemptive relief must be granted by
Commission order (e.g., under Section 4(c) of the Act, 7 U.S.C.
Sec. 6(c) (1994)). The Commission intends that persons making
exemption requests of it should comply with the requirements of the
applicable section of the Act or Commission rules, regulations or
orders, although paragraphs (b), (c), (f) and (h) of the proposed
rule provide some useful guidance for such requests.
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A "no-action" letter is defined as a written statement that staff
of a specific division will not recommend enforcement action to the
Commission if a proposed transaction is undertaken or a proposed
activity is conducted. A no-action letter represents the position of
only the division issuing it and is binding only upon that division and
not
[[Page 3286]]
on the Commission or other divisions. Further, a no-action letter is
only effective with respect to the person or persons to whom it was
issued.
An "interpretative" letter refers to written advice or guidance
with respect to the interpretation of a specific provision of the Act
or a specific Commission rule, regulation or order, which advice or
guidance is provided in the context of a proposed transaction or
activity. These letters are usually issued by the staff of a particular
division of the Commission or the Office of the General Counsel and,
unless otherwise noted, reflect only the views of the division or the
Office of the General Counsel.\6\ Unlike no-action letters (or
exemptive letters), an interpretative letter can be relied upon by
persons other than those to whom the letter was issued, but it is
binding only upon the Commission staff unit issuing it, and not upon
the Commission itself.
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\6\ Statutory interpretations are issued by staff of the Office
of the General Counsel. Requests for interpretations of rule
provisions will be assigned on a case-by-case basis to staff of the
Division of Trading and Markets, the Division of Economic Analysis
or the Office of the General Counsel.
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Issuance of Letters is entirely within the discretion of Commission
staff. A request may be denied, or staff may refuse to consider a
request, without explanation. See paragraph (b)(1) of the proposed
rule.
2. General Requirements
Paragraph (b) of the proposed rule sets forth the general
requirements for requests for Letters. All requests must relate to a
specific proposed activity or transaction and must set forth as
completely as possible the particular facts and circumstances giving
rise to the request.\7\ The proposed rule codifies the policy adhered
to by Commission staff of not providing responses to requests based on
hypothetical situations. The request may be submitted by the person
seeking a Letter or by that person's authorized representative. In any
case, the person on whose behalf a Letter is sought must be identified.
Consistent with current practice, Commission staff will not respond to
requests submitted on behalf of unnamed persons.
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\7\ Where charts or diagrams are likely to facilitate the
staff's understanding of the relevant facts, requesters are
encouraged to submit such materials with their initial
correspondence.
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If the Commission were to adopt the proposed rule, Commission staff
would expect all requests for Letters to comply with the rule's
requirements. A request that does not comply with the rule as adopted
may be rejected by Commission staff without further analysis.\8\
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\8\ In proposing to codify the authority of its staff to reject
non-conforming requests, the Commission is not proposing to alter
the staff's current practice of declining to respond to requests in
other circumstances, such as when legal, policy or practical
considerations make it inappropriate to respond to the merits of a
request. See paragraph (b)(1).
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3. Information Requirements
Requests for Letters should contain the information set forth in
paragraph (c). Specifically, each request should identify the
requester's name, main business address, telephone number, and if
applicable, National Futures Association registration identification
number as well as corresponding information concerning any other
persons on whose behalf the Letter is being sought. The request must
also provide the name, address and telephone number of a contact person
from whom Commission staff may obtain additional information if
necessary.
Paragraph (c)(2) of the proposed rule requires that the specific
section number of the Act and/or Commission rule, regulation or order
to which the request relates be set forth in the upper right-hand
corner of the first page of the request. This requirement will
facilitate the proper routing of the request within the Commission.
Paragraph (c)(3) requires that all requests for exemptive, no-
action or interpretative letters be accompanied by a certification that
the representations contained in the request are true and accurate,
along with an undertaking to supplement the request in the event any
material fact changes or ceases to be true. The requester must make a
complete and reliable presentation of the facts relevant to a request.
A certification requirement is intended to assure that requesters fully
review the facts and keep Commission staff advised of changed
circumstances, without the need for repeated requests by staff for
supplemental information.
Paragraph (c)(4) of the proposed rule requires that each request
specify the particular type of Letter being sought along with a
discussion of the reasons why the requester needs a Letter. In this
regard, the request should identify not only the specific concerns
underlying the proposed transaction or activity giving rise to the
request, but also the legal or public policy reasons for granting the
request. Failure to frame an identifiable issue or problem and a
reasonable justification for the relief or interpretation sought will
be grounds for rejection of a request.
Paragraph (c)(5) of the proposed rule requires that requests make
reference to all relevant authority, including the Act, Commission
rules, regulations and orders, relevant case law, and any
administrative decisions on the issue. In this regard, the request must
identify and distinguish all adverse authority.
If Commission staff have previously issued a Letter in
circumstances similar to those set forth in the request, paragraph
(c)(6) requires that the request identify the prior Letter along with
the conditions, if any, that were imposed by the division issuing the
Letter. Requesters and their counsel must exercise due diligence in
identifying and assembling the relevant authorities, including prior
Letters of Commission staff.
Under paragraph (c)(7) of the proposed rule, it would be
appropriate in a request Letter to ask for alternative relief if the
primary relief requested is denied.
4. Filing Requirements
Paragraph (d) of the proposed rule establishes the procedures for
filing requests for Letters. Specifically, paragraph (d)(1) requires
that each request be made in writing and signed. "Draft" requests for
Letters will not be considered.
Pursuant to paragraph (d)(2), the request must be filed with the
Director of the Division of Trading and Markets, who will then forward
the request to the appropriate division within the Commission. Under
ordinary circumstances the Division of Trading and Markets and the
Division of Economic Analysis will issue no-action letters, and the
Office of the General Counsel will issue statutory interpretations.
Interpretative letters concerning rules or regulations will be referred
either to one of the Divisions or to the Office of the General Counsel
depending upon the issue to be addressed.
The requirement that all requests be in writing codifies current
agency practice. Oral requests for Letters will not be recognized.
Commenters specifically are requested to address whether the rule
should permit requests to be filed electronically.
5. Form of Staff Response
Paragraph (e) of the proposed rule provides Commission staff with
flexibility as to the level of detail necessary for a staff response to
a request for a Letter. Paragraph (e) affords Commission staff the
option of providing a responsive letter in an abbreviated or
endorsement format that
[[Page 3287]]
merely sets forth the staff's position and does not contain a detailed
recitation of the facts. In such cases, the Letter would provide that
it is based on the facts and representations set forth in the request
and thus would incorporate by reference those facts and
representations. Use of this abbreviated format, where appropriate, may
lessen the burden on Commission staff in responding to requests for
Letters.\9\ The Commission requests public comment on whether and in
what circumstances it should utilize this abbreviated procedure.
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\9\ This procedure is followed by the SEC's Divisions of
Corporation Finance and Investment Management. The abbreviated
procedure as adopted by the Division of Corporation Finance is set
forth in Securities Act Release No. 6253, supra note 4.
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As set forth in paragraph (e), no grant of any request governed by
the proposed rule shall be effective unless it is in writing signed by
responsible Commission staff and has been transmitted in final form to
the requester. Oral indications from staff are not binding and should
not be relied on.\10\ Likewise, it is highly inappropriate for a
requester to state in a request letter that the requester will assume
relief has been granted and will proceed with the proposed transaction
if the requester does not receive a negative response from Commission
staff by a certain date. Failure by staff to respond to a request for a
Letter does not constitute staff approval of the request.\11\
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\10\ Commission staff field numerous telephone inquiries from
the public and provide information and guidance as appropriate.
These proposed rules are not intended to alter this practice.
However, while statements made during those conversations are
intended to be helpful, they are not binding on the staff or the
Commission.
\11\ See Precious Metals Associates, Inc. v. CFTC, 620 F.2d 900
(1st Cir. 1980).
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6. Withdrawal of Requests
Paragraph (f) of the proposed rule makes clear that any withdrawal
of a request for a Letter may be accomplished only if: (1) the
requester certifies in writing that the person making the request or on
whose behalf the request has been made has determined not to proceed
with the contemplated transaction or that intervening events have
rendered the request moot; \12\ or (2) the requester has sought
confidential treatment in accordance with Rule 140.98 and Commission
staff has determined that confidential treatment should not be granted
(in which case Rule 140.98 permits the requester to withdraw within 30
days of being so notified). The proposed rule is not intended to modify
or affect the provisions of Rule 140.98.
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\12\ For example, a request for relief under Rule 4.7(a)
notwithstanding participation by a person who is not a qualified
eligible participant ("QEP") may become moot if the proposed
participation becomes able to meet the QEP criteria.
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In permitting withdrawal in limited circumstances only, the
proposed rule is intended to eliminate the past practice of certain
requesters of submitting requests (often in draft form) and then
withdrawing them if it appeared likely that an adverse response would
be received.\13\
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\13\ It is hoped that the provision in paragraph (c)(7) allowing
for requests for relief in the alternatives should eliminate any
perceived need for this practice.
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Although the goal of the proposed rule is that initial requests
will be as complete and thorough as possible, Commission staff from
time to time will need to seek additional information from requesters
in order to process a request. Where Commission staff asks for
supplemental information or analysis, the requester should respond as
quickly as practicable. Paragraph (g) of the proposed rule provides
that an adverse response generally will be issued where the requester
fails to provide additional information or analysis within 30 days of
receiving a request for the same from Commission staff, unless an
extension is granted by Commission staff considering the request.
7. Confidential Treatment
Paragraph (h) of the proposed rule makes clear that where
confidential treatment is sought, it must be requested separately, in
conformity with Rule 140.98 or Rule 145.9 as applicable. These sections
pertain, respectively, to requests for confidential treatment of: (a)
the request for a Letter as well as the Letter issued in response; and
(b) information submitted to the Commission which may be sought under
the Freedom of Information Act, 5 U.S.C. 552.
8. Applicability to Other Sections
Paragraph (i) of the proposed rule makes clear that the rule would
not alter existing provisions of the Act or Commission rules,
regulations or orders (such as Rules 4.5, 4.7 and 4.12(b)) under which
specified exemptive relief is available upon the filing of a notice of
claim of (or eligibility for) the particular exemption.
II. Related Matters
A. Administrative Procedure Act
The Administrative Procedure Act, 5 U.S.C. 553(b), sets forth an
exemption from the generally applicable notice-and-comment requirement
for informal rulemaking where the rules at issue concern agency
organization, procedure or practice. Although the rule proposed herein
pertains exclusively to agency procedures and practice, the Commission
is interested in receiving comment from the public on the proposal and,
accordingly, is publishing the proposal for notice and public comment.
B. Regulatory Flexibility Act
The Regulatory Flexibility Act ("RFA"), 5 U.S.C. 601 et seq.,
requires each federal agency to consider in the course of proposing
substantive rules, the effect of those rules on small entities. The
proposed rule makes clear that requests may be made by any person,
including those that would constitute "small entities" within the
meaning of the RFA. The uniformity mandated by the rule will provide
greater certainty to requesters as to the procedures to follow in
seeking relief or advice and, to this extent, the rule removes a burden
on all requesters, regardless of their size.
Additionally, the Commission has built maximum flexibility into the
operation of the rule by making it clear that Commission staff "may,"
but are not required to, decline to respond to a request that does not
meet the requirements of the rule. See paragraph (b)(2). When a non-
conforming request is submitted by a person who lacks adequate
financial resources to retain counsel (or in other circumstances where
strict application of the rule would be inequitable), Commission staff
may accommodate the requester by accepting the non-conforming request,
by providing guidance to the requester in the proper formulation and
filing of the request, or by other means.
The Chairperson, on behalf of the Commission, hereby certifies,
pursuant to 5 U.S.C. Sec. 605(b), that the action taken herein will not
have a significant economic impact on a substantial number of small
entities.
C. Paperwork Reduction Act
When publishing proposed rules, the Paperwork Reduction Act of 1995
(Pub. L. 104-13 (May 13, 1995)) imposes certain requirements on federal
agencies (including the Commission) in connection with conducting or
sponsoring any collection of information as defined by the Paperwork
Reduction Act. In compliance with the Act, the Commission, through this
rule proposal, solicits comments to:
(1) Evaluate whether the proposed collection of information is
necessary for the proper performance of the functions of the agency,
including the validity of the methodology and
[[Page 3288]]
assumptions used; (2) 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; (3) enhance the
quality, utility and clarity of the information to be collected; and
(4) minimize the burden of the collection of the 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.
The Commission has submitted this proposed rule and its associated
information collection requirements to the Office of Management and
Budget.
The burden associated with this proposed rule, is as follows:
Average burden hours per response: 7.
Number of respondents: 215.
Frequency of response: 1.3.
Persons wishing to comment on the information that would be
required by this proposed/amended rule should contact the Desk Officer,
CFTC, Office of Management and Budget, Room 10202, NEOB, Washington, DC
20503 (202) 395-7340. Copies of the information collection submission
to OMB are available from the CFTC Clearance Officer, 1155 21st Street,
NW., Washington, DC 20581 (202) 418-5160.
List of Subjects in 7 CFR Part 140
Authority delegations (Government agencies), Organization and
functions (Government agencies).
In consideration of the foregoing and pursuant to the authority
contained in the Commodity Exchange Act and in particular section 8(a)
of the Act, as amended, 7 U.S.C. 12(a), the Commission hereby proposes
to amend Chapter I of title 17 of the Code of Federal Regulations as
follows:
PART 140--ORGANIZATION, FUNCTIONS, AND PROCEDURES OF THE COMMISSION
1. The authority citation for part 140 continues to read as
follows:
Authority: 7 U.S.C. 7a(j) and 12a.
2. Section 140.99 is proposed to be added to read as follows:
Sec. 140.99 Requests for Exemptive, No-Action and Interpretative
Letters.
(a) Definitions. For the purpose of this section:
(1) Exemptive letter means a written grant of relief from the staff
of a Division of the Commission from the applicability of a specific
provision of the Act or of a rule, regulation or order issued
thereunder by the Commission. An exemptive letter may only be issued by
Commission staff when the Commission itself has exemptive authority and
that authority has been delegated by the Commission to the Division in
question.
(2) No-action letter means a written statement from the staff of a
Division of the Commission that it will not recommend enforcement
action to the Commission for failure to comply with a specific
provision of the Act or of a Commission rule, regulation or order if a
proposed transaction is completed or a proposed activity is conducted
by the person or persons who requested such letter. A no-action letter
represents the position of only the Division that issued it and is
applicable only with respect to the particular circumstances and
binding only with respect to parties addressed by the letter. A no-
action letter does not bind the Commission itself or any other division
thereof.
(3) Interpretative letter means written advice or guidance from
Commission staff (binding only upon the staff unit providing the advice
or guidance and not upon the Commission itself) and may take the form
of:
(i) Written advice or guidance from the staff of a particular
Division of the Commission or the staff of the Office of the General
Counsel with respect to the interpretation of a specific provision of a
Commission rule, regulation or order in the context of a proposed
transaction or a proposed activity; or
(ii) Written advice or guidance from the staff of the Office of the
General Counsel with respect to the interpretation of a specific
provision of the Act.
(4) Letter means an exemptive, no-action or interpretative letter.
(5) Division as used in this section means the Division of Trading
and Markets or the Division of Economic Analysis.
(b) General requirements--(1) Issuance of Letters is entirely
within the discretion of Commission staff. A request may be denied, or
staff may refuse to consider or respond to a request without
explanation.
(2) Each request for a Letter must comply with the requirements of
this section. Commission staff may reject or decline to respond to a
request that does not comply with the requirements of this section.
(3) The request must relate to a proposed activity or a proposed
transaction. Absent extraordinary circumstances, Commission staff will
not issue a Letter based upon past transactions or activities.
(4) The request may be made by a person seeking a Letter or by an
authorized representative of such person. Commission staff will not
respond to a request for a Letter that is made by or on behalf of an
unidentified person.
(5)(i) The request must set forth as completely as possible the
particular facts and circumstances giving rise to the request.
(ii) Commission staff will not respond to a request based on a
hypothetical situation.
(c) Information requirements. Each request for a Letter must comply
with the following information requirements:
(1)(i) A request made by the person seeking a Letter must contain:
(A) The name, main business address, main telephone number and, as
applicable, the National Futures Association registration
identification number of such person; and
(B) The name and, as applicable, the National Futures Association
registration identification number of each other person for whom the
requester is seeking the Letter.
(ii) When made by an authorized representative of the person
seeking a Letter, the request must contain:
(A) The name, main business address and main business telephone
number of the representative;
(B) The name and, as applicable, the National Futures Association
registration identification number of the person seeking a Letter; and
(C) The name, and as applicable, the National Futures Association
registration identification number of each other person for whom the
requester is seeking the Letter.
(iii) The request must provide the name, address and telephone
number of a contact person from whom Commission staff may obtain
additional information if necessary.
(2) The section numbers of the particular provisions of the Act
and/or Commission rules, regulations in this chapter, or orders to
which the request relates must be set forth in the upper right-hand
corner of the first page of the request.
(3) The request must be accompanied by:
(i) A certification by a person with knowledge of the facts that
the representations made in the request are accurate and complete. The
following form of certification is sufficient for this purpose:
I hereby certify that the statements contained in the attached
letter dated ______________ are true and complete to the best of my
knowledge.
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(Name and Title)
[[Page 3289]]
and
(ii) An undertaking by such person on behalf of the person seeking
a Letter that at such time as any material representation made in the
request ceases to be accurate and complete, the person who has made the
request or received the Letter will promptly submit a written
supplement reflecting all material changed circumstances.
(4) The request must identify the type of relief requested and
Letter sought and must clearly state why a Letter is needed. The
request must identify all relevant legal and factual issues and must
discuss the legal and public policy bases supporting issuance of the
Letter.
(5) The request must contain references to all relevant
authorities, including the Act, Commission rules, regulations in this
chapter, and orders, judicial decisions, administrative decisions,
relevant statutory interpretations and policy statements. Adverse
authority must be cited and discussed.
(6) The request must identify prior Letters issued by Commission
staff in response to circumstances similar to those surrounding the
request (including adverse Letters), and must identify any conditions
imposed by prior Letters as prerequisites for the issuance of those
Letters.
(7) Requests may ask that, if the primary relief is denied,
alternative relief be granted.
(d) Filing requirements. Each request for a Letter must comply with
the following filing requirements:
(1) The request must be made in writing and signed.
(2) The request must be filed with the Director, Division of
Trading and Markets, Commodity Futures Trading Commission, Three
Lafayette Centre, 1155 21st Street, N.W., Washington, D.C. 20581. The
Director will route the request to the appropriate division.
(e) Form of staff response. No grant of any request governed by
this section is effective unless it is in writing signed by responsible
Commission staff and has been transmitted in final form to the
requester. Failure by Commission staff to respond to a request for a
Letter does not constitute approval of the request. Nothing in this
section shall preclude Commission staff from responding to a request
for a Letter by way of endorsement or any other abbreviated, written
form of response.
(f) Withdrawal of requests. Once filed, a request for a Letter may
only be withdrawn if:
(1) A request for withdrawal is made in writing and makes the
following representations, as applicable, together with a certification
that such representations are true:
(i) The person on whose behalf the request was made has determined
not to proceed with the proposed transaction or activity, or
(ii) Intervening events have rendered the request moot; or
(2) The request is the subject of a request for confidential
treatment pursuant to Sec. 140.98 and Commission staff has notified the
requester that the request for confidential treat-ment will be denied,
in which event the requester may withdraw the letter within 30 days
after such notification, as provided in Sec. 140.98.
(g) Failure to pursue a request. If a requester fails to respond
within 30 calendar days of the date of a request from Commission staff
for additional information or analysis, Commission staff generally will
issue an adverse response, unless an extension of time has been
granted.
(h) Confidential treatment. If a requester seeks confidential
treatment of a request for a Letter that it has filed, such treatment
must be separately requested in accordance with Sec. 140.98 or
Sec. 145.9 of this chapter, as applicable.
(i) Applicability to other sections. The provisions of this section
shall not affect the requirements of, or otherwise be applicable to,
notice filings required to be made to claim relief from the Act or from
a Commission rule, regulation or order including, without limitation,
Secs. 4.5, 4.7(a), 4.7(b), 4.12(b), 4.13(b) and 4.14(a)(8) of this
chapter.
Issued in Washington, D.C. on January 13, 1998 by the
Commission.
Catherine D. Dixon,
Assistant Secretary of the Commission.
[FR Doc. 98-1138 Filed 1-21-98; 8:45 am]
BILLING CODE 6351-01-P
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