[Federal Register: February 13, 2004 (Volume 69, Number 30)]
[Rules and Regulations]               
[Page 7120-7121]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]



29 CFR Part 4904

RIN 1212-AA99

Ethical Conduct of Employees

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Final rule.


SUMMARY: The Pension Benefit Guaranty Corporation is removing its 
regulations on the ethical conduct of employees (Part 4904). The 
standards of ethical conduct issued by the Office of Government Ethics 
provide guidance for PBGC employees on this subject.

EFFECTIVE DATE: February 13, 2004.

FOR FURTHER INFORMATION CONTACT: Harold J. Ashner, Assistant General 
Counsel, or Thomas H. Gabriel, Attorney, Office of the General Counsel, 
PBGC, 1200 K Street, NW., Washington, DC 20005-4026; 202-326-4024. (For 
TTY/TDD users, call the Federal relay service toll-free at 1-800-877-
8339 and ask to be connected to 202-326-4024.)

SUPPLEMENTARY INFORMATION: On August 7, 1992 (57 FR 35006), the Office 
of Government Ethics published a final rule on Standards of Ethical 
Conduct for Employees of the Executive Branch. The OGE standards (5 CFR 
part 2635), which took effect on February 3, 1993, establish uniform 
ethical conduct standards applicable to all executive branch personnel.
    When OGE published the standards, it stated that although most 
existing individual agency standards of conduct would be superseded 
when the standards took effect, an agency's standards dealing with 
outside employment would be preserved for one year or until the agency 
issued a supplemental regulation, whichever occurred first. (The time 
period was subsequently extended, but has now expired for the PBGC.)
    On January 14, 1993 (58 FR 4318), the PBGC issued a final rule that 
amended its regulations on the Ethical Conduct of

[[Page 7121]]

Employees (subpart A of 29 CFR part 2602) by removing all provisions 
other than those dealing with outside employment. These outside 
employment provisions, which are now codified at 29 CFR part 4904, have 
been superseded by OGE's government-wide regulations. Accordingly, the 
PBGC is removing part 4904 from its regulations.
    Because this rule involves agency management and personnel (5 
U.S.C. 553(a)(2)), general notice of proposed rulemaking and a delayed 
effective date are not required (5 U.S.C. 553(b), (d)).
    Because no general notice of proposed rulemaking is required, the 
Regulatory Flexibility Act does not apply (5 U.S.C. 601(2)).

List of Subjects in 29 CFR Part 4904

    Conflict of interests, Government employees, Penalties, Political 
activities (Government employees), Production and disclosure of 
information, Testimony.

For the reasons set forth above, 29 CFR chapter XL is amended as 


1. The authority citation for part 4904 continues to read as follows:

    Authority: 29 U.S.C. 1302(b); E.O. 11222, 30 FR 6469; 5 CFR 


2. Part 4904 is removed.

    Issued in Washington, DC this 10th day of February, 2004.
Steven A. Kandarian,
Executive Director, Pension Benefit Guaranty Corporation.
[FR Doc. 04-3246 Filed 2-12-04; 8:45 am]