Rule2021-23062
Standards of Conduct
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
October 22, 2021
Effective
January 1, 2023
Issuing agencies
Farm Credit Administration
Abstract
The Farm Credit Administration (FCA) issued a final rule amending our regulations governing standards of conduct of directors and employees of the Farm Credit System (System) institutions to require each System institution to have or develop a Standards of Conduct Program based on core principles.
Full Text
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<title>Federal Register, Volume 86 Issue 202 (Friday, October 22, 2021)</title>
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[Federal Register Volume 86, Number 202 (Friday, October 22, 2021)]
[Rules and Regulations]
[Pages 58559-58560]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-23062]
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FARM CREDIT ADMINISTRATION
12 CFR Part 612
RIN 3052-AC44
Standards of Conduct
AGENCY: Farm Credit Administration.
ACTION: Notification of effective date.
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SUMMARY: The Farm Credit Administration (FCA) issued a final rule
amending our regulations governing standards of conduct of directors
and employees of the Farm Credit System (System) institutions to
require each System institution to have or develop a Standards of
Conduct Program based on core principles.
DATES: The final rule amending subpart A of 12 CFR part 612, published
on September 13, 2021 (86 FR 50956), is effective on January 1, 2023.
FOR FURTHER INFORMATION CONTACT:
Technical information: Lori Markowitz, Senior Policy Analyst,
Office of Regulatory Policy, Farm Credit Administration, (703) 883-
4487, TTY (703) 883-4056, <a href="/cdn-cgi/l/email-protection#c48b969489a5ada8a6abbc84a2a7a5eaa3abb2"><span class="__cf_email__" data-cfemail="abe4f9fbe6cac2c7c9c4d3ebcdc8ca85ccc4dd">[email protected]</span></a>.
Legal information: Laura McFarland, Senior Counsel, Office of
General Counsel, Farm Credit Administration, (703) 883-4020, TTY (703)
883-4056.
SUPPLEMENTARY INFORMATION: On September 13, 2021, FCA issued a final
rule adopting amendments to our regulations governing standards of
conduct of System directors and employees, excluding the Federal
Agricultural Mortgage Corporation. The final rule requires each System
institution to have or develop a Standards of Conduct Program based on
core principles which serve as the foundation for ethical conduct,
including requiring each System institution to adopt a Code of Ethics
and address the responsibilities of directors, employees, and Standards
of Conduct Officials.
In accordance with 12 U.S.C. 2252(c)(1), the effective date of the
rule may be no earlier than 30 days from the date of publication in the
Federal Register during which either or both
[[Page 58560]]
Houses of Congress are in session. The Act does not prevent FCA from
identifying an effective date that provides more than the minimum
required amount of time. The Standards of Conduct rule was expected to
be effective on or about November 3, 2021, but the FCA Board voted on
October 18, 2021 to delay the effective date to January 1, 2023. FCA
believes postponing the effective date will allow System institutions
the necessary time to develop and implement the required Standards of
Conduct policies, as well as train directors and employees on the new
requirements.
We are inviting the public to comment on the change in effective
date. You may submit comments on this action within 30 days of this
notice by any of the following methods:
<bullet> Email: Send us an email at <a href="/cdn-cgi/l/email-protection#ff8d9a98d29c909292bf999c9ed1989089"><span class="__cf_email__" data-cfemail="4436212369272b2929042227256a232b32">[email protected]</span></a>.
<bullet> Agency Website: <a href="http://www.fca.gov">http://www.fca.gov</a>. Once you are at the
website, select the ``I want to . . .'' field near the top of the page;
select ``comment on a pending regulation'' from the dropdown menu; and
click ``Go''.
<bullet> Mail: Kevin J. Kramp, Director, Office of Regulatory
Policy, Farm Credit Administration, 1501 Farm Credit Drive, McLean, VA
22102-5090.
If FCA receives significant adverse comments on delaying the
effective date for this rule, FCA will publish a notice withdrawing
this notice that will indicate how the agency will proceed.
Dated: October 19, 2021.
Dale Aultman,
Secretary, Farm Credit Administration.
[FR Doc. 2021-23062 Filed 10-21-21; 8:45 am]
BILLING CODE 6705-01-P
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</html>Indexed from Federal Register on October 22, 2021.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.