§ 1.14. Promulgation.

497 words·~2 min read·/us/cfr/t16/s§ 1.14·

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(a)The Commission, after review of the rulemaking record, may issue, modify, or decline to issue any rule. If the Commission wants further information or additional views of interested persons, it may withhold final action pending the receipt of such additional information or views. If it determines not to issue a rule, it may adopt and publish an explanation for not doing so.

(1)Statement of basis and purpose. If the Commission determines to promulgate a rule, it will adopt a statement of basis and purpose to accompany the rule, which must include:

(i)A statement regarding the prevalence of the acts or practices treated by the rule;

(ii)A statement as to the manner and context in which such acts or practices are unfair or deceptive; and

(iii)A statement as to the economic effect of the rule, taking into account the effect on small businesses and consumers.

(2)Final regulatory analysis. Except as otherwise provided by statute, if the Commission determines to promulgate a final rule, it will issue a final regulatory analysis relating to the final rule. Each final regulatory analysis must contain:

(i)A concise statement of the need for, and the objectives of, the final rule;

(ii)A description of any alternatives to the final rule that were considered by the Commission;

(iii)An analysis of the projected benefits and any adverse economic effects and any other effects of the final rule;

(iv)An explanation of the reasons for the determination of the Commission that the final rule will attain its objectives in a manner consistent with applicable law and the reasons the particular alternative was chosen;

(v)A summary of any significant issues raised by the comments submitted during the public comment period in response to the preliminary regulatory analysis, and a summary of the assessment by the Commission of such issues; and

(vi)The information required by the Regulatory Flexibility Act, 5 U.S.C. 601-612, and the Paperwork Reduction Act, 44 U.S.C. 3501-3520, if applicable.

(3)Small entity compliance guide. For each rule for which the Commission must prepare a final regulatory flexibility analysis, the Commission will publish one or more guides to assist small entities in complying with the rule. Such guides will be designated as "small entity compliance guides."

(b)If the Commission determines, upon its review of the rulemaking record, to propose a revised rule for further proceedings in accordance with this subpart, such proceedings, including the opportunity of interested persons to avail themselves of the procedures of § 1.13(b)(2), will be limited to those portions of the revised rule, the subjects and issues of which were not substantially the subject of comment in response to a previous notice of proposed rulemaking.

(c)The final rule will be published in the Federal Register and will include the Statement of Basis and Purpose for the rule or provide an explanation of the manner in which the public may obtain copies of that document. \[86 FR 38550, July 22, 2021\]

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5 USC 601-612
44 USC 3501-3520

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§ 1.14

Promulgation.

Fed. Reg.×14

Cite5 USC 601-612

Cite44 USC 3501-3520

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