2025-09-11 | 2025-17555

Operational Resilience Framework for Futures Commission Merchants, Swap Dealers, and Major Swap Participants; Withdrawal of Proposed Regulatory Action

The Commodity Futures Trading Commission formally withdraws its January 2024 proposed rulemaking that would have mandated operational resilience frameworks, including information security, third-party management, and business continuity plans, for futures commission merchants, swap dealers, and major swap participants. The agency determined that finalizing the proposal is unnecessary because many affected entities already operate within banking organizations subject to comprehensive domestic and foreign operational resilience regulations. The withdrawal takes effect on September 8, 2025, and the Commission will issue new proposed rules if it decides to pursue regulatory action in this area in the future.

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Federal Register / Vol. 90, No. 174 / Thursday, September 11, 2025 / Proposed Rules 43949 TABLE 2—RULEMAKINGS INCLUDED IN THE UNIFIED AGENDA BUT NOT PUBLISHED IN THE FEDERAL REGISTER RIN DOJ component Title 1105–AB12 ....... EOUST Procedures for Suspension and Removal of Panel Trustees and Standing Trustees. 1105–AB65 ....... OLP Ensuring Fairness and Consistency in the Administration of Sentences in Federal Capital Cases. 1105–AB74 ....... CRM Asset Forfeiture Program Victim, Owner, and Lienholder Remission and Mitigation. 1105–AB76 ....... PARDON Office of the Pardon Attorney; Rules Governing Petitions for Executive Clemency, Notification of Denial of Clemency or Case Closure. 1105–AB77 ....... OLP Floodplain Management and Wetland Protection. 1110–AA38 ....... FBI Regulatory Updates to Implement Policy—National Instant Criminal Background Check System (NICS). 1117–AB50 ....... DEA Amendments to the Drug Enforcement Administration Hearing Regulations. 1117–AB52 ....... DEA Principal Place of Business or Professional Practice. 1117–AB59 ....... DEA Electronic Submission of DEA Form 41 (Registrant Record of Controlled Substances Destroyed). 1117–AB63 ....... DEA Termination of Registration Upon Discontinuation of Business or Change of Ownership. 1117–AB65 ....... DEA Disaster Registration Emergency Authorities. 1117–AB67 ....... DEA Campus Registration. 1117–AB68 ....... DEA Employment Bar and New Employment Waivers. 1117–AB69 ....... DEA Operation of Automated Dispensing Systems at Long Term Care Facilities by Hospital/Clinic Pharmacies. 1117–AB71 ....... DEA Medical Missions. 1117–AB76 ....... DEA Amending Regulations to Separate K–9 Handlers From the Researcher Category. 1117–AB77 ....... DEA Analytical Labs and Hemp. 1117–AB83 ....... DEA Medical Marijuana and Cannabidiol Research Expansion. 1117–AB86 ....... DEA Revision of Application for Manufacturing Quota. 1121–AA90 ....... OJP Updating Appendix D to 28 CFR Part 61, Office of Justice Programs Procedures Relating to Implementation of the National Environmental Policy Act. 1125–AA63 ....... EOIR Application of the Serious Nonpolitical Crime Bar to Asylum and Withholding of Removal for Recruitment or Use of Child Soldiers. 1125–AA73 ....... EOIR Procedures for Cases Involving Mentally Incompetent Aliens. 1125–AA82 ....... EOIR Civil Enforcement Actions for Document Fraud Under Section 274C of the Immigration and Nationality Act; Authority of EOIR’s Anti-Fraud Officer. 1125–AB05 ....... EOIR Procedures to Commence Proceedings Before the Immigration Court. 1125–AB12 ....... EOIR Procedures for Asylum and Bars to Asylum Eligibility. 1125–AB13 ....... EOIR Clarifying Definitions and Analyses for Fair and Efficient Asylum and Other Protection Determinations. 1125–AB16 ....... EOIR Executive Office for Immigration Review; Office of Legal Access Programs. 1125–AB17 ....... EOIR EOIR Organization; EOIR Director’s Authority. 1125–AB19 ....... EOIR Executive Office for Immigration Review; Fee Review. 1125–AB22 ....... EOIR Hearing Requirements and Application Procedures for Asylum and Related Protection. 1125–AB24 ....... EOIR Inadmissibility on Public Charge Grounds. 1125–AB25 ....... EOIR Asylum Eligibility; Persecutor Bar. 1125–AB27 ....... EOIR Clarifying and Revising Custody Determination Procedures for Noncitizens Subject to Discretionary Detention (INA 236(a)/8 U.S.C. 1226 detention). 1125–AB31 ....... EOIR Consideration of Non-LPR Cancellation of Removal Applications. 1140–AA36 ....... ATF Commerce in Explosives—Relief From Disabilities. 1140–AA48 ....... ATF Nonimmigrant Alien Waiver (NIA Rule). 1190–AA76 ....... CRT Nondiscrimination on the Basis of Disability by State and Local Governments and Places of Public Accom￾modation; Equipment and Furniture. 1190–AA77 ....... CRT Nondiscrimination on the Basis of Disability by State and Local Governments; Public Right-of-Way. Dated: September 8, 2025. Pamela Bondi, Attorney General. [FR Doc. 2025–17526 Filed 9–10–25; 8:45 am] BILLING CODE P COMMODITY FUTURES TRADING COMMISSION 17 CFR Parts 1 and 23 RIN 3038–AF23 Operational Resilience Framework for Futures Commission Merchants, Swap Dealers, and Major Swap Participants; Withdrawal of Proposed Regulatory Action AGENCY: Commodity Futures Trading Commission. ACTION: Notice of withdrawal of proposed rules. SUMMARY: The Commodity Futures Trading Commission (‘‘Commission’’) is formally withdrawing a notice of proposed rulemaking published on January 24, 2024, titled ‘‘Operational Resilience Framework for Futures Commission Merchants, Swap Dealers, and Major Swap Participants.’’ The Commission does not intend to issue final rules with respect to this proposal. If the Commission decides to pursue future regulatory action in this area, it will issue new proposed rules. DATES: The Commission is withdrawing the proposed rules published at 89 FR 4706 (January 24, 2024) as of September 8, 2025. FOR FURTHER INFORMATION CONTACT: Thomas Smith, Acting Director, at 202– 418–5495 or tsmith@cftc.gov; Frank Fisanich, Deputy Director, at 202–418– 5407 or ffisanish@cftc.gov; Fern Simmons, Senior Special Counsel, at 202–418–5901 or fsimmons@cftc.gov; Dina Moussa, Special Counsel, at 202– 418–5696 or dmoussa@cftc.gov; or Matthew Boylan, Special Counsel, at 202–418–8257 or mboylan@cftc.gov, Market Participants Division, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581. SUPPLEMENTARY INFORMATION: Background On January 24, 2024, the Commission published a notice of proposed VerDate Sep<11>2014 16:19 Sep 10, 2025 Jkt 265001 PO 00000 Frm 00003 Fmt 4702 Sfmt 4702 E:\FR\FM\11SEP1.SGM 11SEP1 lotter on DSK11XQN23PROD with PROPOSALS1

43950 Federal Register / Vol. 90, No. 174 / Thursday, September 11, 2025 / Proposed Rules 1Operational Resilience Framework for Futures Commission Merchants, Swap Dealers, and Major Swap Participants, 89 FR 4706 (Jan. 24, 2024). 2 89 FR 14007 (Feb. 26, 2024). rulemaking in the Federal Register proposing new Commission regulation 1.13 under the Commodity Exchange Act, as well as amendments to existing Commission regulation 23.603 under the Commodity Exchange Act.1 The proposed rules would have required futures commission merchants, swap dealers, and major swap participants to establish and implement an operational resilience framework comprised of an information and technology security program, a third-party relationship program, and a business continuity and disaster recovery plan. The proposed rules would have also imposed requirements related to governance, training, testing, recordkeeping, and incident notifications in support of the operational resilience framework. On February 26, 2024, the Commission published a release in the Federal Register which extended the comment period for the proposal to April 1, 2024.2 Withdrawal of Proposed Rules The Commission is withdrawing the proposal to reconsider how the proposed rules work in practice with the operational resilience rules of other regulators, including both domestic and foreign. Many swap dealers and futures commission merchants are part of banking organizations that have already implemented comprehensive enterprise￾wide operational resilience programs pursuant to U.S. or non-U.S. regulations. Thus, the Commission no longer intends to issue final rules with respect to the proposal. If the Commission decides to pursue future regulatory action in this area, it will do so by publishing new proposed rules or other issuance consistent with the requirements of the Administrative Procedure Act, as applicable. 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. Issued in Washington, DC, on September 9, 2025, by the Commission. Christopher Kirkpatrick, Secretary of the Commission. Note: The following appendix will not appear in the Code of Federal Regulations. Appendix to Operational Resilience Framework for Futures Commission Merchants, Swap Dealers, and Major Swap Participants; Withdrawal of Proposed Regulatory Action— Commission Voting Summary On this matter, Acting Chairman Pham voted in the affirmative. No Commissioner voted in the negative. [FR Doc. 2025–17555 Filed 9–10–25; 8:45 am] BILLING CODE 6351–01–P DEPARTMENT OF HOMELAND SECURITY Coast Guard 33 CFR Part 165 [Docket Number USCG–2025–0643] RIN 1625–AA00 Safety Zone; Beltway 8 Bridge Construction, Houston Ship Channel, Houston, TX AGENCY: Coast Guard, DHS. ACTION: Notice of proposed rulemaking. SUMMARY: The Coast Guard is proposing to establish a temporary safety zone for certain navigable waters of the Houston Ship Channel around the Beltway 8 Bridge (Sam Houston Tollway Ship Channel Bridge), during bridge construction and demolition activities. The temporary safety zone is needed to protect personnel, vessels, and the marine environment from potential hazards created by constructing a new bridge. Entry of vessels or persons into this zone is prohibited unless specifically authorized by the Captain of the Port, Sector Houston-Galveston. We invite your comments on this proposed rulemaking. DATES: Comments and related material must be received by the Coast Guard on or before October 14, 2025. ADDRESSES: You may submit comments identified by docket number USCG– 2025–0643 using the Federal Docket Management System at https:// www.regulations.gov. See the ‘‘Public Participation and Request for Comments’’ portion of the SUPPLEMENTARY INFORMATION section for further instructions on submitting comments. This notice of proposed rulemaking with its plain-language, 100- word-or-less proposed rule summary will be available in this same docket. FOR FURTHER INFORMATION CONTACT: If you have questions about this proposed rulemaking, call or email Marine Science Technician Chief Petty Officer Anthony W. Booth, Sector Houston￾Galveston Waterway Management Division, Coast Guard; Telephone (713) 398–5823, Email houstonwwm@ uscg.mil. SUPPLEMENTARY INFORMATION: I. Table of Abbreviations CFR Code of Federal Regulations COTP Captain of the Port DHS Department of Homeland Security FR Federal Register NPRM Notice of proposed rulemaking § Section U.S.C. United States Code II. Background, Purpose, and Legal Basis On July 24, 2025, construction of the new Beltway 8 Bridge (Sam Houston Tollway Ship Channel Bridge) started over the navigable waters of the Houston Ship Channel. The Coast Guard previously published a short-term temporary safety zone to cover the initial phase of this construction, which covers only a small area along the north and south shorelines around the bridge (90 FR 35438, July 28, 2025). That safety zone expires on October 22, 2025, and a long-term safety zone is necessary to provide for safety during the remainder of the construction and demolition project. The Coast Guard is proposing this rulemaking under authority in 46 U.S.C. 70034. The construction of the new Southbound and Northbound lanes, and demolition of the old Beltway 8 Bridge (Sam Houston Tollway Ship Channel Bridge) are estimated to be complete around March 2030. The Captain of the Port Sector Houston-Galveston (COTP) has determined that potential hazards associated with construction over the ship channel will be a safety concern for anyone transiting under the bridge. Hazards associated with this project include falling construction equipment, materials or other debris. The purpose of this rulemaking is to ensure the safety of vessels and the navigable waters during the construction of the new Beltway 8 Bridge (Sam Houston Tollway Ship Channel Bridge). While this zone will be in effect for several years, the Coast Guard anticipates that the main navigable channel of the Houston Ship Channel will remain open for the majority of the time, and impact on vessel navigation will be minimal. During the times of overhead construction outside of the federal channel, vessels will be allowed to transit under the bridge only within the federal channel. The channel will be closed for a short period when the construction or demolition is actively occurring over the main federal channel, and these closures will be coordinated VerDate Sep<11>2014 16:19 Sep 10, 2025 Jkt 265001 PO 00000 Frm 00004 Fmt 4702 Sfmt 4702 E:\FR\FM\11SEP1.SGM 11SEP1 lotter on DSK11XQN23PROD with PROPOSALS1