87 FR 126 pgs. 39506-39508 - Agency Information Collection Activities Under OMB Review
Type: NOTICEVolume: 87Number: 126Pages: 39506 - 39508
Pages: 39506, 39507, 39508FR document: [FR Doc. 2022-14088 Filed 6-30-22; 8:45 am]
Agency: Commodity Futures Trading Commission
Official PDF Version: PDF Version
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COMMODITY FUTURES TRADING COMMISSION
Agency Information Collection Activities Under OMB Review
AGENCY:
Commodity Futures Trading Commission.
ACTION:
Notice.
SUMMARY:
[top] In compliance with the Paperwork Reduction Act of 1995
DATES:
Comments must be submitted on or before August 1, 2022.
ADDRESSES:
Written comments and recommendations for the proposed information collection should be submitted within 30 days of this notice's publication to OIRA, at https://www.reginfo.gov/public/do/PRAMain. Please find this particular information collection by selecting "Currently under 30-day Review-Open for Public Comments" or by using the website's search function. Comments can be entered electronically by clicking on the "comment" button next to the information collection on the "OIRA Information Collections Under Review" page, or the "View ICR-Agency Submission" page. A copy of the supporting statement for the collection of information discussed herein may be obtained by visiting https://www.reginfo.gov/public/do/PRAMain.
In addition to the submission of comments to https://Reginfo.gov as indicated above, a copy of all comments submitted to OIRA may also be submitted to the Commodity Futures Trading Commission (the "Commission" or "CFTC") by clicking on the "Submit Comment" box next to the descriptive entry for OMB Control No. 3038-0052, at https://comments.cftc.gov/FederalRegister/PublicInfo.aspx.
Or by either of the following methods:
• Mail: Christopher Kirkpatrick, Secretary of the Commission, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581.
• Hand Delivery/Courier: Same as Mail above.
All comments must be submitted in English, or if not, accompanied by an English translation. Comments submitted to the Commission should include only information that you wish to make available publicly. If you wish the Commission to consider information that you believe is exempt from disclosure under the Freedom of Information Act, a petition for confidential treatment of the exempt information may be submitted according to the procedures established in §??145.9 of the Commission's regulations. 1 The Commission reserves the right, but shall have no obligation, to review, pre-screen, filter, redact, refuse or remove any or all of your submission from https://www.cftc.gov that it may deem to be inappropriate for publication, such as obscene language. All submissions that have been redacted or removed that contain comments on the merits of the ICR will be retained in the public comment file and will be considered as required under the Administrative Procedure Act and other applicable laws, and may be accessible under the Freedom of Information Act.
Footnotes:
1 ?17 CFR 145.9.
FOR FURTHER INFORMATION CONTACT:
Roger Smith, Associate Chief Counsel, Division of Market Oversight, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581; 202-418-5344; email: rsmith@cftc.gov.
SUPPLEMENTARY INFORMATION:
Title: Core Principles & Other Requirements for DCMs (OMB Control No. 3038-0052). This is a request for a revision and extension of a currently approved information collection.
Abstract: The regulations governing designated contract markets ("DCMs") originally were adopted pursuant to the Commodity Futures Modernization Act of 2000, which amended section 5 of the Commodity Exchange Act ("CEA") to impose requirements concerning the registration? 2 and operation of DCMs. 3 The DCM statutory framework subsequently was revised as a result of further amendments to the CEA under Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act"). 4 Part 38 of the Commission's regulations governs the activities of DCMs. The information collected pursuant to Part 38 is necessary for the Commission to evaluate whether entities operating as, or applying to become, DCMs comply with the Part 38 and other Commission requirements and the CEA's statutory requirements.
Footnotes:
2 ?The Commission notes that the terms "registered" and "designated" are used interchangeably and mean the same thing.
3 ?7 U.S.C. 1 et seq.
4 ? See Dodd-Frank Wall Street Reform and Consumer Protection Act, Public Law 111-203, tit. VII, 124 Stat. 1376 (2010) (codified as amended in various sections of 7 U.S.C.), available at https://www.cftc.gov/sites/default/files/idc/groups/public/@lrfederalregister/documents/file/2013-12242a.pdf.
Collection 3038-0052 was created in response to the Part 38 regulatory requirements for DCMs. In general, OMB Control Number 3038-0052 covers all information collections in Part 38, including Subpart A and the DCM core principles ( i.e., Subparts B through X) as well as the related appendices thereto ( i.e., Appendix A-Form DCM; Appendix B-Guidance on, and Acceptable Practices in, Compliance with Core Principles; and Appendix C-Demonstration of Compliance That a Contract Is Not Readily Susceptible to Manipulation). Further, this OMB control number, 3038-0052, also includes all information collections related to Part 9 ("Rules Relating to Review of Exchange Disciplinary, Access Denial or Other Adverse Actions") to the extent Part 9 is applicable to DCMs. 5 This collection also includes the requirements under regulation 38.251(g) in connection with the reporting of specific market disruption events to the Commission.
Footnotes:
5 ?Section 38.707 specifically references Part 9. Accordingly, the Commission's previous information collection estimates under Part 38 have included compliance with Part 9 to the extent applicable to DCMs. The Commission is referencing DCMs' compliance obligations with Part 9 for the sake of clarity, but this does not represent a new or modified information collection.
This OMB control number, 3038-0052, also includes collections under regulation 1.52 regarding the Enhanced Protections Afforded Customer and Customer Funds Held by Futures Clearing Merchants and Derivatives Clearing Organizations. Commission regulation 1.52 imposes information collection burdens on DCMs. 6
Footnotes:
6 ?The Commission notes that §?38.605 incorporates and references §?1.52. Accordingly, the Commission's previous information collection estimates under Part 38 have included compliance with §?1.52 to the extent applicable to DCMs. The Commission is referencing DCMs' compliance obligations with §?1.52 for the sake of clarity, but this does not represent a new or modified information collection.
Additionally, this OMB control number, 3038-0052, also includes collections under regulation 38.1051(n) that relate to system safeguards and cybersecurity testing requirements and requires DCMs to provide the Commission with annual trading volume information.
For the majority of collections under OMB control number 3038-0052, the Commission notes that the number of registered, active DCMs has increased from 14 to 16. This increase in the number of registered DCMs will increase the total information collection burdens for OMB control number 3038-0052 as shown below. 7
Footnotes:
7 ?For the collections related to Commission regulation 38.251(g), the Commission notes that the number of registered, active DCMs has decreased from 17 to 16. This decrease is reflected below for collections related to Commission regulation 38.251(g). However, despite this decrease, the total information collection burdens for OMB control number 3038-0052 will increase.
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Burden Statement: The Commission is revising its estimate of the burden for this collection to reflect the current number of respondents and estimated burden hours. The respondent burden for this collection is estimated to be as follows:
• Regulatory & Core Principle Compliance Part 38 (Subparts A-W) and related Appendices:
Estimated Number of Respondents: 16.
Estimated Average Burden Hours per Respondent: 330.
Estimated Total Annual Burden Hours: 5,280.
Frequency of Collection: per Trading Day.
• §?1.52 (Examination Program and Audit of Program):
Estimated Number of Respondents: 16.
Estimated Average Burden Hours per Respondent: 49.
Estimated Total Annual Burden Hours: 784.
Frequency of Collection: Annually.
• Core Principle 16 "Conflicts of Interest" and Related Acceptable Practices (Annual Assessment Report):
Estimated Number of Respondents: 16.
Estimated Average Burden Hours per Respondent: 70.
Estimated Total Annual Burden Hours: 1,120.
Frequency of Collection: Annually.
• §?38.1101 et al (Quarterly Financial Reports):
Estimated Number of Respondents: 16.
Estimated Average Burden Hours per Respondent: 40.
Estimated Total Annual Burden Hours: 640.
Frequency of Collection: Quarterly.
• §?38.1051(n) (Required Production of Annual Trading Volume):
Estimated Number of Respondents: 16.
Estimated Average Burden Hours per Respondent: 0.5.
Estimated Total Annual Burden Hours: 8.
Frequency of Collection: Annually.
• §?38.3 and Form DCM (DCM Registration):
Estimated Number of Respondents: 4.
Estimated Average Burden Hours per Respondent: 300.
Estimated Total Annual Burden Hours: 1,200 hours.
Frequency of Collection: As applicable.
• §?38.251(g) (Required Market Disruptions Notifications):
Estimated Number of Respondents: 16.
Estimated Average Burden Hours per Respondent: 66.4 hours.
Estimated Total Annual Burden Hours: 1,062.4 hours.
Frequency of Collection: As needed.
• §§?38.950 and 38.951 (Recordkeeping Related to Compliance with 38.251(g)):
Estimated Number of Respondents: 16.
Estimated Average Burden Hours per Respondent: 25 hours.
Estimated Total Annual Burden Hours: 400 hours.
Frequency of Collection: As needed.
• Total Annual Burden for the Collection: 10,494.4 hours.
There are no capital costs or operating and maintenance costs associated with this collection.
(Authority: 44 U.S.C. 3501 et seq. )
Dated: June 27, 2022.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2022-14088 Filed 6-30-22; 8:45 am]
BILLING CODE 6351-01-P