Withdrawal of Commission Guidance Regarding the Listing of Voluntary Carbon Credit Derivative Contracts

Federal Register / Vol. 90, No. 176 / Monday, September 15, 2025 / Rules and Regulations 44321 1Commission Guidance Regarding the Listing of Voluntary Carbon Credit Derivative Contracts, 89 FR 83378 (Oct. 15, 2024). 2 Id. at 83378 and 83385. 3 Id. at 83400. (i) No Reporting Requirement Although the material referenced in EASA AD 2024–0197 specifies to submit certain information to the manufacturer, this AD does not include that requirement. (j) Additional AD Provisions The following provisions also apply to this AD: (1) Alternative Methods of Compliance (AMOCs): The Manager, AIR–520, Continued Operational Safety Branch, FAA, has the authority to approve AMOCs for this AD, if requested using the procedures found in 14 CFR 39.19. In accordance with 14 CFR 39.19, send your request to your principal inspector or responsible Flight Standards Office, as appropriate. If sending information directly to the manager of the Continued Operational Safety Branch, send it to the attention of the person identified in paragraph (k) of this AD and email to: AMOC@faa.gov. Before using any approved AMOC, notify your appropriate principal inspector, or lacking a principal inspector, the manager of the responsible Flight Standards Office. (2) Contacting the Manufacturer: For any requirement in this AD to obtain instructions from a manufacturer, the instructions must be accomplished using a method approved by the Manager, AIR–520, Continued Operational Safety Branch, FAA; or EASA; or Airbus SAS’s EASA Design Organization Approval (DOA). If approved by the DOA, the approval must include the DOA￾authorized signature. (3) Required for Compliance (RC): Except as required by paragraphs (i) and (j)(2) of this AD, if any material referenced in EASA AD 2024–0197 contains paragraphs that are labeled as RC, the instructions in RC paragraphs, including subparagraphs under an RC paragraph, must be done to comply with this AD; any paragraphs, including subparagraphs under those paragraphs, that are not identified as RC are recommended. The instructions in paragraphs, including subparagraphs under those paragraphs, not identified as RC may be deviated from using accepted methods in accordance with the operator’s maintenance or inspection program without obtaining approval of an AMOC, provided the instructions identified as RC can be done and the airplane can be put back in an airworthy condition. Any substitutions or changes to instructions identified as RC require approval of an AMOC. (k) Additional Information For more information about this AD, contact Nicole S. Tsang, Aviation Safety Engineer, FAA, 2200 South 216th St., Des Moines, WA 98198; phone: 206–231–3959; email: Nicole.S.Tsang@faa.gov. (l) Material Incorporated by Reference (1) The Director of the Federal Register approved the incorporation by reference of the material listed in this paragraph under 5 U.S.C. 552(a) and 1 CFR part 51. (2) You must use this material as applicable to do the actions required by this AD, unless this AD specifies otherwise. (i) European Union Aviation Safety Agency (EASA) AD 2024–0197, dated October 18, 2024. (ii) [Reserved] (3) For EASA material identified in this AD, contact EASA, Konrad-Adenauer-Ufer 3, 50668 Cologne, Germany; telephone +49 221 8999 000; email ADs@easa.europa.eu. You may find this material on the EASA website at ad.easa.europa.eu. (4) You may view this material at the FAA, Airworthiness Products Section, Operational Safety Branch, 2200 South 216th St., Des Moines, WA. For information on the availability of this material at the FAA, call 206–231–3195. (5) You may view this material at the National Archives and Records Administration (NARA). For information on the availability of this material at NARA, visit www.archives.gov/federal-register/cfr/ ibr-locations or email fr.inspection@nara.gov. Issued on August 28, 2025. Peter A. White, Deputy Director, Integrated Certificate Management Division, Aircraft Certification Service. [FR Doc. 2025–17786 Filed 9–12–25; 8:45 am] BILLING CODE 4910–13–P COMMODITY FUTURES TRADING COMMISSION 17 CFR Part 38 RIN 3038–AF63 Withdrawal of Commission Guidance AGENCY: Commodity Futures Trading Commission. ACTION: Notice of withdrawal of Commission Guidance. SUMMARY: The Commodity Futures Trading Commission (the ‘‘Commission’’ or ‘‘CFTC’’) is withdrawing final guidance published on October 15, 2024, titled ‘‘Commission Guidance Regarding the Listing of Voluntary Carbon Credit Derivative Contracts.’’ DATE: The Commission is withdrawing the final guidance published at 89 FR 83378 (October 15, 2024) as of September 10, 2025. FOR FURTHER INFORMATION CONTACT: Rahul Varma, Acting Director, (202) 418–5353, rvarma@cftc.gov, Division of Market Oversight, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581. SUPPLEMENTARY INFORMATION: Background On October 15, 2024, the Commission published in the Federal Register final guidance for designated contract markets (‘‘DCMs’’) regarding the listing of voluntary carbon credit (‘‘VCC’’) derivatives contracts.1 Specifically, the final guidance outlined factors for consideration by DCMs when addressing certain provisions of the Commodity Exchange Act (‘‘CEA’’), and CFTC regulations thereunder, that are relevant to the design and listing for trading of VCC derivatives contracts (the ‘‘VCC Guidance’’). The VCC Guidance was intended to assist DCMs with understanding how the Commission’s existing regulatory framework applies to VCC derivatives contracts. The VCC Guidance was also intended to help DCMs advance the standardization of such products in a manner that promotes transparency and liquidity.2 Withdrawal of Final Guidance The Commission is withdrawing the VCC Guidance as section 5c of the CEA and Commission regulations in parts 38 and 40 already set forth the regulatory framework for listing VCC derivatives contracts. After careful review, the Commission believes that the VCC Guidance provides limited value to DCMs when listing VCC derivatives contracts. The VCC Guidance, which is explicitly non￾binding,3 does not create new compliance obligations or product listing standards for DCMs. As such, the VCC Guidance has not provided DCMs with any new regulatory structure or standards that resulted in the advancement of market transparency or liquidity for VCC derivatives contracts. Further, VCC contracts should be evaluated in the same manner as any other derivatives contract listed on a DCM. The Commission’s review of VCC derivatives contracts is consistent with its well-established approach for reviewing all derivatives contracts as set out in parts 38 and 40 of the Commission’s regulations. As a result of issuing the VCC Guidance, the Commission believes that it placed a disproportionate focus on a particular class of derivative contracts, which could lead to confusion and inconsistencies in DCMs’ implementation of the CEA and Commission regulations, as well as the Commission’s application of the product listing regulatory frameworks in parts 38 and 40 of its regulations. A uniform regulatory framework for listing contracts on a DCM, as already established in the Commission’s regulations, best serves market VerDate Sep<11>2014 15:52 Sep 12, 2025 Jkt 265001 PO 00000 Frm 00031 Fmt 4700 Sfmt 4700 E:\FR\FM\15SER1.SGM 15SER1 khammond on DSK9W7S144PROD with RULES

44322 Federal Register / Vol. 90, No. 176 / Monday, September 15, 2025 / Rules and Regulations 4 5 U.S.C. 801 et seq. transparency, expectations, fairness, and integrity. Executive Order 12866 The Office of Management and Budget has determined that this action is not a significant regulatory action as defined in Executive Order 12866, as amended, and therefore it was not subject to Executive Order 12866 review. Pursuant to the Congressional Review Act,4 the Office of Information and Regulatory Affairs has designated this rule as not a ‘‘major rule,’’ as defined by 5 U.S.C. 804(2). Issued in Washington, DC, on September 11, 2025, 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 Withdrawal of Commission Guidance—Commission Voting Summary On this matter, Acting Chairman Pham voted in the affirmative. No Commissioner voted in the negative. [FR Doc. 2025–17793 Filed 9–12–25; 8:45 am] BILLING CODE 6351–01–P DEPARTMENT OF THE INTERIOR Bureau of Safety and Environmental Enforcement 30 CFR Parts 203, 250, and 254 [Docket ID: BSEE–2025–0005; EEEE500000 245E1700D2 ET1SF0000.EAQ000] RIN 1014–AA65 Restoration of Names That Honor American Greatness; Gulf of America AGENCY: Bureau of Safety and Environmental Enforcement (BSEE), Interior. ACTION: Final rule. SUMMARY: This final rule will, throughout the Bureau of Safety and Environmental Enforcement’s regulations, rename the area formerly known as the Gulf of Mexico (GOM) as the Gulf of America (GOA). The Gulf of America is the U.S. Continental Shelf area bounded on the northeast, north, and northwest by the States of Texas, Louisiana, Mississippi, Alabama, and Florida and extending to the seaward boundary with Mexico and Cuba. DATES: This rule is effective on September 15, 2025. FOR FURTHER INFORMATION CONTACT: Kirk Malstrom, Chief, Regulations and Standards Branch, (202) 258–1518, or by email: regs@bsee.gov. SUPPLEMENTARY INFORMATION: I. Background and Legal Authority On January 20, 2025, the President signed Executive Order (E.O.) 14172, Restoring Names that Honor American Greatness. This E.O. directs the Secretary of the Interior (Secretary) to take all appropriate actions to rename as the ‘‘Gulf of America’’ the U.S. Continental Shelf area bounded on the northeast, north, and northwest by the States of Texas, Louisiana, Mississippi, Alabama, and Florida and extending to the seaward boundary with Mexico and Cuba in the area formerly named as the Gulf of Mexico. BSEE is removing all references to the Gulf of Mexico from its regulations. BSEE is updating all its references in the Code of Federal Regulations (CFR) to the Gulf of America or (GOA), consistent with 43 U.S.C. 364 through 364f. (a). BSEE is promulgating this final rule to implement the directive of E.O. 14172 and for good cause finds that a proposed rule is unnecessary pursuant to 5 U.S.C. 553(b)(B). Public notice and comment is unnecessary because this rule makes minor technical amendments to conform the language of the regulations with the directive of E.O. 14172. Updating the name for the Gulf of America region imposes no substantive changes and does not impact the public’s rights or obligations. Accordingly, this final rule is exempt from public notice and comment rulemaking requirements under 5 U.S.C. 553(b)(B). The area formerly known as the Gulf of Mexico has long been an integral asset to our once burgeoning Nation and has remained an indelible part of America. The Gulf was a crucial artery for America’s early trade and global commerce. It is the largest gulf in the world, and the United States coastline along this remarkable body of water spans over 1,700 miles and contains nearly 160 million acres. Its natural resources and wildlife remain central to America’s economy today. The bountiful geology of this basin has made it one of the most prodigious oil and gas regions in the world, providing roughly 14 percent of our Nation’s crude-oil production and an abundance of natural gas, and consistently driving new and innovative technologies that have allowed us to tap into some of the deepest and richest oil reservoirs in the world. The Gulf is also home to vibrant American fisheries teeming with snapper, shrimp, grouper, stone crab, and other species, and it is recognized as one of the most productive fisheries in the world, with the second largest volume of commercial fishing landings by region in the Nation, contributing millions of dollars to local American economies. The Gulf is also a favorite destination for American tourism and recreation activities. Further, the Gulf is a vital region for the multi-billion-dollar U.S. maritime industry, providing some of the largest and most impressive ports in the world. The Gulf will continue to play a pivotal role in shaping America’s future and the global economy, and in recognition of this flourishing economic resource and its critical importance to our Nation’s economy and its people. II. Procedural Requirements A. Regulatory Planning and Review (E.O. 12866 and 13563) E.O. 12866 provides that the OMB Office of Information and Regulatory Affairs (OIRA) will review all significant rules. OIRA has determined that this rule is not significant. E.O. 13563 reaffirms the principles of E.O. 12866 while calling for improvements in the Nation’s regulatory system to promote predictability, to reduce uncertainty, and to use the best, most innovative, and least burdensome tools for achieving regulatory ends. E.O. 13563 directs agencies to consider regulatory approaches that reduce burdens and maintain flexibility and freedom of choice for the public where these approaches are relevant, feasible, and consistent with regulatory objectives. E.O. 13563 further emphasizes that regulations must be based on the best available science and that the rulemaking process must allow for public participation and an open exchange of ideas. We have developed this rule in a manner consistent with these requirements, to the extent permitted by statute. B. Regulatory Flexibility Act The Regulatory Flexibility Act (RFA) requires an agency to prepare a regulatory flexibility analysis for rules unless the agency certifies that the rule will not have a significant economic impact on a substantial number of small entities. The RFA applies only to rules for which an agency is required to first publish a proposed rule. (See 5 U.S.C. 603(a) and 604(a)). This rule is exempt from the requirement to publish a proposed rule for notice and comment pursuant to 5 U.S.C. 553(b)(B). Thus, the RFA does not apply to this rulemaking. VerDate Sep<11>2014 15:52 Sep 12, 2025 Jkt 265001 PO 00000 Frm 00032 Fmt 4700 Sfmt 4700 E:\FR\FM\15SER1.SGM 15SER1 khammond on DSK9W7S144PROD with RULES