Adopting Release correction 2

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Federal Register / Vol. 85, No. 96 / Monday, May 18, 2020 / Rules and Regulations

1. Section 15(a) Considerations
In light of the foregoing, the CFTC has
evaluated the costs and benefits of this
Final Rule pursuant to the five
considerations identified in section
15(a) of the CEA as follows:
(1) Protection of Market Participants and
the Public
This Final Rule’s restoration of the
Detailed Requirements may protect
market participants and the public by
ensuring that the policies and
procedures required under § 160.30 are
reasonably designed to address the
specific areas mandated by Congress in
the GLB Act.
(2) Efficiency, Competitiveness, and
Financial Integrity of Markets
This Final Rule may reduce confusion
and allow Covered Persons to design
and maintain their policies and
procedures to focus on the specified
areas mandated by the GLB Act. This
may allow Covered Persons to more
efficiently utilize their resources in
developing policies and procedures in
compliance with § 160.30. In addition,
consistent with the GLB Act, this Final
Rule will further align the consumer
privacy regulations of the Commission,
FTC, and SEC, which may lower costs
for certain Covered Persons.
(3) Price Discovery
The Commission has not identified an
impact on price discovery as a result of
this Final Rule.
(4) Sound Risk Management
The Commission has not identified an
impact on sound risk management as a
result of this Final Rule.
(5) Other Public Interest Considerations
Consistent with the GLB Act, this
Final Rule will further align the
consumer privacy regulations of the
Commission, FTC, and SEC.

jbell on DSKJLSW7X2PROD with RULES

2. Comments on Cost-Benefit
Considerations
The Commission invited public
comment on its cost-benefit
considerations in the Proposal,
including the Section 15(a) factors
described above. The Commission
received no such comments.

U.S.C. 19(b).

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17:15 May 15, 2020

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List of Subjects in 17 CFR Part 160
Brokers, Consumer protection,
Privacy, Reporting and recordkeeping
requirements.
For the reasons stated in the
preamble, the Commodity Futures
Trading Commission amends 17 CFR
part 160 as follows:
PART 160—PRIVACY OF CONSUMER
FINANCIAL INFORMATION UNDER
TITLE V OF THE GRAMM-LEACHBLILEY ACT
1. The authority citation for part 160
continues to read as follows:

■

Authority: 7 U.S.C. 7b–2 and 12a(5); 15
U.S.C 6801, et seq., and sec. 1093, Pub. L.
111–203, 124 Stat. 1376.
■

2. Revise § 160.30 to read as follows:

§ 160.30 Procedures to safeguard
customer records and information.

D. Antitrust Considerations
Section 15(b) of the CEA 21 requires
the Commission to take into
consideration the public interest to be
protected by the antitrust laws and
endeavor to take the least
anticompetitive means of achieving the
21 7

objectives of the CEA, as well as the
policies and purposes of the CEA, in
issuing any order or adopting any
Commission rule or regulation
(including any exemption under section
4(c) or 4c(b)), or in requiring or
approving any bylaw, rule, or regulation
of a contract market or registered futures
association established pursuant to
section 17 of the CEA.
The Commission believes that the
public interest to be protected by the
antitrust laws is generally to protect
competition. The Commission requested
and did not receive any comments on
whether the Proposal implicated any
other specific public interest to be
protected by the antitrust laws.
The Commission has considered this
Final Rule to determine whether it is
anticompetitive and has identified no
anticompetitive effects. The
Commission requested and did not
receive any comments on whether the
Proposal was anticompetitive and, if it
is, what the anticompetitive effects are.
Because the Commission has
determined that this Final Rule is not
anticompetitive and has no
anticompetitive effects and received no
comments on its determination, the
Commission has not identified any less
anticompetitive means of achieving the
purposes of the CEA.

Every futures commission merchant,
retail foreign exchange dealer,
commodity trading advisor, commodity
pool operator, introducing broker, major
swap participant, and swap dealer
subject to the jurisdiction of the
Commission must adopt policies and
procedures that address administrative,
technical and physical safeguards for
the protection of customer records and
information. These policies and

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procedures must be reasonably designed
to:
(a) Insure the security and
confidentiality of customer records and
information;
(b) Protect against any anticipated
threats or hazards to the security or
integrity of customer records and
information; and
(c) Protect against unauthorized
access to or use of customer records or
information that could result in
substantial harm or inconvenience to
any customer.
Issued in Washington, DC, on April 17,
2020, by the Commission.
Robert Sidman,
Deputy Secretary of the Commission.
Note: The following appendix will not
appear in the Code of Federal Regulations.

Appendix to Privacy of Consumer
Financial Information—Commission
Voting Summary
On this matter, Chairman Tarbert and
Commissioners Quintenz, Behnam, Stump,
and Berkovitz voted in the affirmative. No
Commissioner voted in the negative.
[FR Doc. 2020–08552 Filed 5–15–20; 8:45 am]
BILLING CODE 6351–01–P

SECURITIES AND EXCHANGE
COMMISSION
17 CFR Parts 200, 230, 232, 239, 240,
270, and 274
[Release Nos. 33–10765; 34–88358; IC–
33814; File No. S7–23–18]
RIN 3235–AK60

Updated Disclosure Requirements and
Summary Prospectus for Variable
Annuity and Variable Life Insurance
Contracts
Correction
In rule document 2020–05526,
beginning on page 26954 in the issue of
Friday, May 1, 2020, make the following
correction:
§ 274.11

[Corrected]

On page 26256, in § 274.11, after the
photo material, insert the following
amendatory instructions:
■ 48. Effective January 1, 2022, Form N–
4 (referenced in §§ 239.17b and 274.11c)
is further amended by removing
paragraph (a)(9) of Item 1.
■ 49. Revise Form N–6 (referenced in
§§ 239.17c and 274.11d) to read as
follows:
■

Note: The text of Form N–6 will not appear
in the Code of Federal Regulations.
[FR Doc. C2–2020–05526 Filed 5–15–20; 8:45 am]
BILLING CODE 1301–00–D

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