Common use of Cost Benefit Analysis Clause in Contracts

Cost Benefit Analysis. (a) of the Act requires the Commission to consider the costs and benefits of its action before issuing a new regulation under the Act. By its terms, section 15(a) does not require the Commission to quantify the costs and benefits of a new regulation or to determine whether the benefits of the proposed regulation outweigh its costs. Rather, section 15(a) simply requires the Commission to ‘‘consider the costs and possessions, or the applicant is otherwise able to benefits’’ of its action. Section 15(a) demonstrate that it has adopted appropriate procedures for producing its books and records in the United States expeditiously upon request, and the applicant can and does represent that it will comply with such procedures.’’ Staff Letter 87–10, [1987–1990 Transfer Binder] Comm. Fut. L. Rep. (CCH) ¶ 23,999 (Dec. 9, 1987). (Emphasis in original.) 16 47 FR 18618–18621 (April 30, 1982). 17 Pub. L. 104–13 (May 13, 1995). further specifies that costs and benefits shall be evaluated in light of five broad areas of market and public concern: Protection of market participants and the public; efficiency, competitiveness, and financial integrity of futures markets; price discovery; sound risk management practices; and other public interest considerations. Accordingly, the Commission could in its discretion give greater weight to any one of the five enumerated areas and could in its discretion determine that, notwithstanding its costs, a particular rule was necessary or appropriate to protect the public interest or to effectuate any of the provisions or to accomplish any of the purposes of the Act. The Commission published an analysis of costs and benefits when it proposed the rule amendments that have now been adopted.18 It did not receive any public comments pertaining to the analysis. Definitions, Foreign futures, Foreign options, Reporting and recordkeeping requirements, Registration requirements. ■ In consideration of the foregoing, and pursuant to the authority contained in the Commodity Exchange Act and, in particular, sections 2(a)(1), 4(b), 4c and 8 thereof, 7 U.S.C. 2, 6(b), 6c and 12a, and pursuant to the authority contained in 5 U.S.C. 552 and 552b, the Commission hereby amends Chapter I of Title 17 of the Code of Federal Regulations as follows: