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VOLUME 24

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V

I MANET

1934

AilTEO

NUMBER 197

Washington, Thursday, October 8, 1959

Title 17 COMMODITY AND
SECURITIES EXCHANGES
Chapter I Commodify Exchange Au thority Including Commodity Ex change Commission, Department of Agriculture PART 1 GENERAL REGULATIONS
UNDER THE COMMODITY EX
CHANGE ACT
Regulation on Employment of Persons to Whom Trading Privileges Have Been Denied or Whose Registra tions Have Been Suspended or Revoked
On May 28, 1959, there was published in the F ederal R egister 24 F.R. 4307
a notice of rule-making concerning the proposed issuance of a new regulation under the Commodity Exchange Act, as amended 7 U.S.C. 1 et seq. relating to the employment of persons to whom trading privileges have been denied or whose registrations have been suspended or revoked. After due consideration of all relevant matters presented and under the authority of sections 4g, 6b, and 8a5 of said act 7 U.S.C. 6g, 9 ,12a5, a regulation, to appear in 17 CFR 1.49, is hereby issued to read as follows:
1.49 Denial of trading privileges;
suspension or revocation of registra tion ; employment in similar capacity.

the rules of a contract market, the exe cution of which would be prohibited by such order of the Secretary of Agricul ture if made for the account of such person.
b Suspension or revocation of regis tration: During the effective period of any order of the Secretary of Agriculture suspending or revoking the registration of any person as a futures commission merchant or floor broker for a violation of the Commodity Exchange Act or the regulations thereunder involving cheat ing or fraud or manipulation or a t tempted manipulation of the price of any commodity in interstate commerce or for future delivery on or subject to the rules of a contract market, no futures commis sion merchant or member of a contract market shall knowingly employ such person in any capacity which involves the solicitation, acceptance, or execution of orders for the purchase or sale of any commodity for future delivery on or sub ject to the rules of a contract market.
c The words solicitation, accept ance, or execution of orders as used in this section shall not include such func tions as are customarily performed by a person employed by a futures commis sion merchant or member of a contract market as mail clerk, telephone clerk, messenger, or bookkeeper, or in a similar capacity, incident to the recording and transmitting of orders which are solic ited, accepted, and executed by other persons.
Secs. 4g, 6b, 8a5, 49 Stat.
amended; 7 U.S.C. 6g, 9, 12a5

1491, as
a Denial of trading privileges: Dur The regulation set forth above differs ing the effective period of any order of the Secretary of Agriculture denying in certain respects from the proposal trading privileges on contract markets contained in the notice of rule-making, to any person for a violation of the Com but the differences are due to changes modity Exchange Act or the regulations made pursuant to comments received thereunder involving cheating or fraud with respect to the notice. It does not or manipulation or attempted manipula appear th at further notice and other tion of the price of any commodity in public rule-making procedure on the interstate commerce or for future de regulation would make more informa livery on or subject to the rules of a tion available to the Department.
contract market, no futures commission Therefore under section 4 of the Admin merchant or member of a contract m ar istrative ProcedureAct 5 U.S.C. 1003
ket shall knowingly employ such person it is found upon good cause th at further m any capacity which involves the solici notice and other public rule-making tation, acceptance, or execution of orders procedure on the regulation are unneces for the purchase or sale of any commod sary.
ity for future delivery on or subject to Continued on p. 8143

CONTENTS
Agricultural Conservation Program Service
Pase
Rules and regulations:
Alaska; 1960_____ ______ ____ 8162
Hawaii; 1959;. increase in small Federal cost-share;
construction of permanent fences____________________ 8170
Agricultural Marketing Service
Notices:
North Arkansas Livestock Auc tion Inc., et al.; proposed posting of stockyards.______
Proposed rule making:
Milk in certain marketing areas:
Duluth-Superior___________
New York-New Jersey 2
documents___ __________
Rules and regulations:
Onion rings, frozen, breaded ;
U.S. standards for grades__

8191

8186
8184
8162

Agriculture Department
See Agricultural Conservation Program Service; Agricultural Marketing Service; Commod ity Exchange Authority; Com modity Stabilization Service.
Air Force Department
Rules and regulations:
Aid of civil authorities and pub lic relations and reserve forces; miscellaneous amendments____________________ 8145
Miscellaneous amendments to procurement instructions___ 8146
Army Department
Rules and regulations:
Foreign purchases and supple mental provisions ; miscel laneous amendments_______

8143

Atomic Energy Commission
Notices:
California Salvage Co.; license.

8192

Civil Aeronautics Board
Notices:
Hearings, etc.:
Accident on Great Sitkin Island, Alaska_________
8195
Modern Air Transport, Inc., and John P. Becker--------- 8195
National Airlines, Inc. ; jet service between New York and Miami_____________ 8195
8141