
[Federal Register Volume 76, Number 189 (Thursday, September 29, 2011)]
[Rules and Regulations]
[Pages 60370-60372]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-24964]


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SECURITIES AND EXCHANGE COMMISSION

17 CFR Parts 200, 201, and 204

[Release No. 34-65385]


Consolidation of the Office of the Executive Director With the 
Office of the Chief Operating 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 reflect the consolidation of the Office of the 
Executive Director with the Office of the Chief Operating Officer, 
including amendments to replace references to the Executive Director 
with references to the Chief Operating Officer.

DATES: Effective Date: September 29, 2011.

FOR FURTHER INFORMATION CONTACT: Jeffery Heslop, Chief Operating 
Officer, at (202) 551-2105, Securities and Exchange Commission, 100 F 
Street, NE., Washington, DC 20549.

SUPPLEMENTARY INFORMATION:

I. Discussion

    Until recently, the support functions of the Commission were 
allocated primarily to the Office of the Executive Director (``OED''). 
In 2010, however, the Commission established the Office of

[[Page 60371]]

the Chief Operating Officer (``OCOO'') and allocated some support and 
administrative functions to OCOO. Then, on April 19, 2011, the 
Commission approved the consolidation of the OED with the OCOO in an 
effort to streamline the organizational structure of the agency and add 
clarity and efficiency to the functions of the Chief Operating Officer.
    These amendments harmonize the Commission's rules with the 
consolidation already approved by replacing references to the Executive 
Director with references to the Chief Operating Officer. These include 
references to the Executive Director in rules describing the 
responsibilities of the Executive Director and officers serving under 
the Executive Director; rules delegating authority to the Executive 
Director and officers serving under the Executive Director; and rules 
relating to the classification and declassification of national 
security information and material. As a result of these amendments, 
these rules now will apply to the Chief Operating Officer and officers 
serving under the Chief Operating Officer, as applicable.
    The amendments also make conforming changes to Commission rules 
relating to the offices that report to the OCOO. They amend provisions 
relating to the Office of the Comptroller to reflect that this office 
is now known as the Office of Financial Management and headed by the 
Chief Financial Officer. They amend provisions relating to the Office 
of Administrative and Personnel Management to reflect that the 
functions of this office are now performed by the Office of Human 
Resources and the Office of Administrative Services. They amend 
provisions relating to the former Office of Freedom of Information and 
Privacy Act Operations to reflect that this Office is now known as the 
Office of FOIA, Records Management, and Security. And, they remove a 
reference to the Office of Filings and Information Services, to reflect 
that this Office no longer exists.
    Finally, the amendments would remove from the description of the 
functions of the COO (previously the description of the functions of 
the Executive Director) the functions of prescribing procurement 
regulations, entering into contracts, designating contracting officers, 
and making procurement determinations. We believe it is appropriate to 
retain for the Chairman the flexibility to designate the person or 
persons who shall perform these functions, rather than to specify by 
rule that these functions are allocated to the COO.

II. Related Matters

A. Administrative Procedure Act and Other Administrative Laws

    The Commission has determined that these amendments to its rules 
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.\1\ The Regulatory Flexibility Act, 
therefore, does not apply.\2\ 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.\3\ 
Finally, these amendments do not contain any collection of information 
requirements as defined by the Paperwork Reduction Act of 1995, as 
amended.\4\
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    \1\ 5 U.S.C. 553(b).
    \2\ 5 U.S.C. 601-612.
    \3\ 5 U.S.C. 804.
    \4\ 44 U.S.C. 3501-3520.
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B. Cost-Benefit Analysis

    The Commission is sensitive to the costs and benefits imposed by 
its rules. The amendments adopted today are procedural in nature and 
will produce the benefit of facilitating the efficient operation of the 
Commission. The Commission also believes that these rules will not 
impose any costs on non-agency parties, or that if there are any such 
costs, they are negligible.

C. Consideration of Burden on Competition

    Section 23(a)(2) of the Exchange Act requires the Commission, in 
making rules pursuant to any provision of the Exchange Act, to consider 
among other matters the impact any such rule would have on competition. 
The Commission does not believe that the amendments that the Commission 
is adopting today will have any impact on competition because they 
impose no new burden upon market participants and are intended to 
facilitate the efficient operation of the Commission.

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

17 CFR Part 200

    Administrative practice and procedure, Authority delegations 
(Government agencies), Organization and functions (Government 
agencies).

17 CFR Part 201

    Administrative practice and procedure, Brokers, Claims, 
Confidential business information, Equal access to justice, lawyers, 
Penalties, Securities.

17 CFR Part 204

    Claims, Government employees, Income taxes, Reporting and 
recordkeeping requirements, Wages.

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
1-2. 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, 78w, 
78ll(d), 78mm, 80a-37, 80b-11, and 7202, unless otherwise noted.
* * * * *

0
3. In 17 CFR Part 200, remove the words ``Executive Director'' and add, 
in their place, the words ``Chief Operating Officer'' in the following 
places:
0
a. Section 200.13, heading and paragraphs (a) introductory text, (b), 
and (c);
0
b. Section 200.17, introductory text;
0
c. Section 200.21(a);
0
d. Section 200.30-3(a)(80);
0
e. Section 200.30-15, heading and text;
0
f. Section 200.503, introductory text and paragraph (a);
0
g. Section 200.504, introductory text;
0
h. Section 200.505(c);
0
i. Section 200.508(a);
0
j. Section 200.510(a); and
0
k. Section 200.511(a).


Sec.  200.13  [Amended]

0
4. In Sec.  200.13:
0
a. In paragraph (a), remove the phrase ``the Office of Administrative 
and Personnel Management, the Office of the Comptroller, the Office of 
Filings and Information Services, the Office of Freedom of Information 
and Privacy Act Operations'' and add, in its place, the

[[Page 60372]]

phrase ``the Office of Human Resources, the Office of Administrative 
Services, the Office of Financial Management, the Office of FOIA, 
Records Management, and Security'';
0
b. In paragraph (c), remove the phrase ``, prescribes procurement 
regulations, enters into contracts, designates contracting officers, 
and makes procurement determinations'' and add a period after the word 
``payments''.
0
c. In paragraph (d), remove the phrase ``As the Chief Operating Officer 
of the Commission, the Executive Director'' and add, in its place, the 
phrase ``The Chief Operating Officer'';


Sec.  200.20c  [Removed]

0
5. Remove Sec.  200.20c.


Sec.  200.21  [Amended]

0
6. In Sec.  200.21(a), remove the words ``Office of Administrative and 
Personnel Management'' and add, in their place, the words ``Office of 
Human Resources''.


Sec.  200.24  [Amended]

0
7. In Sec.  200.24:
0
a. Remove the words ``Office of the Comptroller'' in the heading and 
add, in their place, the words ``Office of Financial Management'';
0
b. Remove the words ``Associate Executive Director of the Office of the 
Comptroller'' and add, in their place, the words ``Chief Financial 
Officer''; and
0
c. Remove the words ``Executive Director'' and add, in their place, the 
words ``Chief Operating Officer'';


Sec.  200.25  [Removed and Reserved]

0
8. Remove and reserve Sec.  200.25.


Sec.  200.30-13  [Amended]

0
9. In Sec.  200.30-13 remove the words ``Associate Executive Director 
of the Office of Financial Management'' in the heading and introductory 
text and add, in their place, the words ``Chief Financial Officer''.

Subpart J--Classification and Declassification of National Security 
Information and Material

0
10a. The authority citation for Part 200, Subpart J, is revised to read 
as follows:

    Authority:  15 U.S.C. 77s; 11 U.S.C. 901, 1109(a); E.O. 12356, 
47 FR 14874, Apr. 6, 1982; Information Security Oversight Office 
Directive No. 1 (47 FR 27836, June 25, 1982).


Sec.  200.503  [Amended]

0
10b. In Sec.  200.503, remove the authority citation following Section 
503(b).

PART 201--RULES OF PRACTICE

0
11. The authority citation for Part 201 is revised to read as follows:

    Authority:  15 U.S.C. 77s, 77sss, 78w, 78x, 80a-37, and 80b-11; 
5 U.S.C. 504(c)(1).
    Sections 201.700 and 201.701 are also issued under sec. 916, 
Pub. L. 111-203, 124 Stat. 1376.
* * * * *


Sec.  201.59  [Amended]

0
12. In Sec.  201.59, remove the word ``Comptroller'' and add, in its 
place, the words ``Chief Financial Officer''.

PART 204--RULES RELATING TO DEBT COLLECTION

Subpart B

0
13. The authority citation for Part 204, Subpart B, continues to read 
as follows:

    Authority:  5 U.S.C. 5514, 5 CFR 550.1104.


Sec.  204.32  [Amended]

0
14. In Sec.  204.32, in the definition of Program Official, remove the 
word ``Comptroller'' and add, in its place, the words ``Chief Financial 
Officer''.


Sec.  204.34  [Amended]

0
15. In Sec.  204.34(d), remove the words ``Comptroller's office'' and 
add, in their place, the words ``Office of Financial Management''.

    Dated: September 23, 2011.

    By the Commission.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-24964 Filed 9-28-11; 8:45 am]
BILLING CODE 8011-01-P


