2023-04716: Broker and Freight Forwarder Financial Responsibility

Summary

FMCSA is extending the comment period for its January 5, 2023, NPRM proposing rules to regulate broker and freight forwarder financial responsibility in five separate areas: Assets readily available; immediate suspension of broker/freight forwarder operating authority; surety or trust responsibilities in cases of broker/freight forwarder financial failure or insolvency; enforcement authority; and entities eligible to provide trust funds for form BMC-85 trust fund filings. As originally published in the NPRM, the deadline for comments was March 5, 2023. However, FMCSA is extending this comment period to April 6, 2023, in anticipation of a public listening session allowing comments on this topic. The session will be hosted by FMCSA at 10:00 a.m. on March 31, 2023, in Louisville, KY, and held concurrently with the Mid America Trucking Show (MATS). Anyone wishing to attend can register at: https://www.eventbrite.com/e/fmcsa-session-2-broker-regulatory-session- tickets-549535173497. In addition, a transcript of the public listening session will be placed in the rulemaking docket.

The agency’s own summary, as published.

What this changes

Amends 2 parts of the Code of Federal Regulations — the standing rules this notice rewrites.

• 49 CFR 386 Rules of Practice for FMCSA Proceedings
• 49 CFR 387 Minimum Levels of Financial Responsibility for Motor Carriers