The proposed rule would revise the Packers and Stockyards regulations to add provisions to administer and enforce the livestock dealer trust, which arose from amendments to the Packers and Stockyards Act in December 2020. The revisions would establish procedures for enforcement of the trust provisions, including appointment of an independent trustee. The rule would also establish the authority, rights and responsibilities of the independent trustee. The rule would include procedures and responsibilities applicable to the Secretary in the event the Secretary assumes the role of trustee in a dealer statutory trust case.