81 FR 35001 - Agency Information Collection Activities: Notice of Intent To Renew Collection 3038-0067, Part 162 Subpart C-Identify Theft Red Flags
COMMODITY FUTURES TRADING COMMISSION Federal Register Volume 81, Issue 105 (June 1, 2016)
Federal Register Volume 81, Issue 105 (June 1, 2016)
| Page Range | 35001-35003 | |
| FR Document | 2016-12858 |
[Federal Register Volume 81, Number 105 (Wednesday, June 1, 2016)] [Notices] [Pages 35001-35003] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-12858] ======================================================================= ----------------------------------------------------------------------- COMMODITY FUTURES TRADING COMMISSION Agency Information Collection Activities: Notice of Intent To Renew Collection 3038-0067, Part 162 Subpart C--Identify Theft Red Flags AGENCY: Commodity Futures Trading Commission. ACTION: Notice. ----------------------------------------------------------------------- SUMMARY: The Commodity Futures Trading Commission (``CFTC'' or ``Commission'') is announcing an opportunity for public comment on the proposed renewal of a collection of certain information by the agency. Under the Paperwork Reduction Act (``PRA''), Federal agencies are required to publish notice in the Federal Register concerning each proposed collection of information, including each proposed extension of an existing collection of information, and to allow 60 days for public comment. This notice solicits comments on the duties of CFTC registrants to design, develop and implement reasonable policies and procedures to identify relevant red flags (the ``Identity Theft Red Flags Rules''), and potentially to notify cardholders of identity theft risks. Regulations in part 162 subpart C--Identify Theft Red Flags, including the information collection requirements thereunder, are designed to better protect investors from the risks of identity theft, and, in the case of entities that issue credit or debit cards, to assess the validity of, and communicate with cardholders regarding, address changes. DATES: Comments must be submitted on or before August 1, 2016. ADDRESSES: You may submit comments, identified by ``Part 162 Subpart C--Identify Theft Red Flags; OMB Control No. 3038-0067,'' by any of the following methods:The Agency's Web site, at http://comments.cftc.gov/. Follow the instructions for submitting comments through the Web site. 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. Federal eRulemaking Portal: http://www.regulations.gov/. Follow the instructions for submitting comments through the Portal. Please submit your comments using only one method. All comments must be submitted in English, or if not, accompanied by an English translation. Comments will be posted as received to http://www.cftc.gov. FOR FURTHER INFORMATION CONTACT: Sue McDonough, Office of General Counsel, Commodity Futures Trading Commission, 1155 21st Street NW., Washington, DC 20581; (202) 418-5132, email: [email protected]. SUPPLEMENTARY INFORMATION: Under the PRA, Federal agencies must obtain approval from the Office of Management and Budget (OMB) for each collection of information they conduct or sponsor. ``Collection of Information'' is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3 and includes agency requests or requirements that members of the public submit reports, keep records, or provide information to a third party. Section 3506(c)(2)(A) of the PRA, 44 U.S.C. 3506(c)(2)(A), requires Federal agencies to provide a 60-day notice in the Federal Register concerning each proposed collection of information before submitting the collection to OMB for approval. To comply with this requirement, the CFTC is publishing notice of the proposed collection of information listed below. Title: Part 162 Subpart C--Identify Theft Red Flags (OMB Control No. 3038-0067). This is a request for extension of a currently approved information collection. Abstract: This collection of information is needed because under part 162 subpart C--Identify Theft, CFTC-regulated entities are required to develop and implement reasonable policies and procedures to identify, [[Page 35002]] detect, and respond to relevant red flags (the Identity Theft Red Flags Rules) and, in the case of entities that issue credit or debit cards, to assess the validity of, and communicate with cardholders regarding, address changes. Section 162.30 includes the following information collection requirements for each CFTC-regulated entity that qualifies as a ``financial institution'' or ``creditor'' under and that offers or maintains covered accounts: (i) Creation and periodic updating of an identity theft prevention program (``Program'') that is approved by the board of directors, an appropriate committee thereof, or a designated senior management employee; (ii) periodic staff reporting to the board of directors on compliance with the Identity Theft Red Flags Rules and related guidelines; and (iii) training of staff to implement the Program. Section 162.32 includes the following information collection requirements for each CFTC-regulated entity that is a credit or debit card issuer: (i) Establishment of policies and procedures that assess the validity of a change of address notification if a request for an additional or replacement card on the account follows soon after the address change; and (ii) notification of a cardholder, before issuance of an additional or replacement card, at the previous address or through some other previously agreed-upon form of communication, or alternatively, assessment of the validity of the address change request through the entity's established policies and procedures. The Commission uses the collection of information to discharge its regulatory responsibilities to protect investors from the risks of identity theft. With respect to the collection of information, the CFTC invites comments on: Whether the proposed collection of information is necessary for the proper performance of the functions of the CFTC, including whether the information will have a practical use; The accuracy of the CFTC's estimate of the burden of the proposed collection of information, including the validity of the methodology and assumptions used; Ways to enhance the quality, usefulness, and clarity of the information to be collected; and Ways to minimize the burden of collection of information on those who are to respond, including through the use of appropriate automated electronic, mechanical, or other technological collection techniques or other forms of information technology; e.g., permitting electronic submission of responses. You should submit only information that you wish to make available publicly. If you wish the CFTC 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 Sec. 145.9 of the CFTC's regulations.\1\ --------------------------------------------------------------------------- \1\ 17 CFR 145.9. --------------------------------------------------------------------------- The CFTC reserves the right, but shall have no obligation, to review, pre-screen, filter, redact, refuse or remove any or all of your submission from http://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. Burden Statement: CFTC staff estimates of the hour burdens associated with section 162.30 include the one-time burden of complying with this section for newly-formed CFTC-regulated entities, as well as the ongoing costs of compliance for all CFTC-regulated entities. With respect to the one-time burden hours, staff estimates that each newly- formed financial institution or creditor would incur a burden of 2 hours to conduct an initial assessment of covered accounts. Staff estimates that approximately 572 CFTC-regulated financial institutions and creditors are newly formed each year, and the total estimated one- time burden to initially assess covered accounts is therefore 1,144 hours. Staff also estimates that each financial institution or creditor that maintains covered accounts would incur an additional initial burden of 29 hours to develop and obtain board approval of a Program and hours to train the staff of the financial institution or creditor. Staff estimates that approximately 47 \2\ CFTC-regulated financial institutions and creditors that maintain covered accounts are newly formed each year, and thus the total estimated one-time burden to develop and obtain board approval of a Program and train staff is 1,363 hours. Thus, the total initial estimated burden for all newly-formed CFTC-regulated entities is 2,507 hours (1,144 hours + 1,363 hours). --------------------------------------------------------------------------- \2\ Based on a review of new registrations typically filed with the CFTC each year, CFTC staff estimates that approximately 6 futures commission merchants (``FCMs''), 83 introducing brokers (``IBs''), 282 commodity trading advisors (``CTAs''), 198 commodity pool operators (``CPOs''), and 3 swap dealers (``SDs'') are newly formed each year, for a total of 572 entities. CFTC staff also has observed that approximately 50 percent of all CPOs are dually registered as CTAs, thus half of the 198 CPOs or 99 CPOs are excluded from the calculation. With respect to retail forex dealers (``RFEDs''), CFTC staff has observed that all entities registering as RFEDs also register as FCMs. Based on these observation, CFTC has determined that the total number of newly-formed financial institutions and creditors is 473 (572-99 CPOs that are also registered as CTAs). There were no newly registered RFEDs or MSPs. Each of these 473 financial institutions or creditors would bear the initial one-time burden of compliance. Of the total 473 newly-formed entities, staff estimates that all of the FCMs are likely to carry covered accounts, 10 percent of CTAs and CPOs are likely to carry covered accounts, and none of the IBs are likely to carry covered accounts, for a total of 44 newly-formed financial institutions or creditors (6 FCMs, 38 CPOS and CTAs, and 3 SDs) carrying covered accounts that would be required to conduct an initial one-time burden of compliance with subpart C of part 162. --------------------------------------------------------------------------- With respect to ongoing annual burden hours, CFTC staff estimates that each financial institution or creditor would incur a burden of 2 hours to periodically assess whether it offers or maintains covered accounts. Staff estimates that there are approximately 3,956 CFTC- regulated entities that are either financial institutions or creditors, and the total estimated annual burden to periodically assess covered accounts is therefore 7,912 hours. Staff also estimates that each financial institution or creditor that maintains covered accounts would incur an additional annual burden of 4 hours to prepare and present an annual report to the board and 2 hours to periodically review and update the Program. Staff estimates that there are approximately 47 CFTC-regulated entities that are financial institutions or creditors that offer or maintain covered accounts, and thus the total estimated additional annual burden for these entities is 282 hours. Thus, the total ongoing annual estimated burden for all CFTC-regulated entities is 8,194 hours (7912 hours + 282 hours). The collections of information required by section 162.32 will apply only to CFTC-regulated entities that issue credit or debit cards. CFTC staff understands that CFTC-regulated entities generally do not issue credit or debit cards, but instead may partner with other entities, such as banks, that issue cards on their behalf. These other entities, which are not regulated by the CFTC, are already subject to substantially similar change of address obligations pursuant to other federal regulators' identity theft red flags rules. Therefore, staff does not expect that any CFTC-regulated entities will be subject to the information collection requirements of section 163.32, and [[Page 35003]] accordingly, staff estimates that there is no hour burden related to section 162.32 for CFTC-regulated entities. In total, CFTC staff estimates that the aggregate annual information collection burden of part 162 subpart C--Identity Theft is 10,701 hours (2,507 hours + 8,194 hours). Compliance with part 162 subpart C--Identity Theft, including compliance with the information collection requirements thereunder, is mandatory for each CFTC regulated entity that qualifies as a ``financial institution'' or ``creditor'' under Part 162 Subpart C--Identity Theft (as discussed above, certain collections of information under Part 162 Subpart C-- Identity Theft are mandatory only for financial institutions or creditors that offer or maintain covered accounts). Frequency of collection: Ongoing. There are no capital costs or operating and maintenance costs associated with this collection. Authority: 44 U.S.C. 3501 et seq. Dated: May 26, 2016. Robert N. Sidman, Deputy Secretary of the Commission. [FR Doc. 2016-12858 Filed 5-31-16; 8:45 am] BILLING CODE 6351-01-P
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The Federal Government is practical utility; (b) the accuracy of the DATES: Comments must be submitted on
responsible for the management of the agency’s estimate of the burden or before August 1, 2016.
Pacific halibut sport fishery off Alaska, (including hours and cost) of the ADDRESSES: You may submit comments,
while the State of Alaska manages the proposed collection of information; (c) identified by ‘‘Part 162 Subpart C—
salmon sport fisheries (Chinook, coho, ways to enhance the quality, utility, and Identify Theft Red Flags; OMB Control
sockeye, chum, and pink), as well as clarity of the information to be No. 3038–0067,’’ by any of the following
several other saltwater sport fisheries. collected; and (d) ways to minimize the methods:
The updated survey’s scope covers burden of the collection of information • The Agency’s Web site, at http://
marine sport fishing for Pacific halibut, on respondents, including through the comments.cftc.gov/. Follow the
salmon, and other popular marine sport use of automated collection techniques instructions for submitting comments
species in Alaska (e.g., lingcod and or other forms of information through the Web site.
rockfish). The data collected from the technology. • Mail: Christopher Kirkpatrick,
survey will be used to update estimates Comments submitted in response to Secretary of the Commission,
of the demand for and value of marine this notice will be summarized and/or Commodity Futures Trading
fishing to anglers and to analyze how included in the request for OMB Commission, Three Lafayette Centre,
the type of fish caught, fishery approval of this information collection; 1155 21st Street NW., Washington, DC
regulations, and other factors affect they also will become a matter of public 20581.
fishing values and anglers’ decisions to record. • Hand Delivery/Courier: Same as
participate in Alaska marine fishing Dated: May 26, 2016.
Mail above.
activities. The economic information • Federal eRulemaking Portal: http://
Sarah Brabson,
provided from the survey will help www.regulations.gov/. Follow the
NOAA PRA Clearance Officer. instructions for submitting comments
inform fishery managers about the
economic values of Alaska marine sport [FR Doc. 2016–12808 Filed 5–31–16; 8:45 am] through the Portal.
fisheries and the changes to BILLING CODE 3510–22–P Please submit your comments using
participation in these fisheries with only one method.
proposed regulations. All comments must be submitted in
English, or if not, accompanied by an
II. Method of Collection COMMODITY FUTURES TRADING English translation. Comments will be
Data will be collected through a COMMISSION posted as received to http://
mixed mode mail-telephone survey. A www.cftc.gov.
random sample of sport anglers who Agency Information Collection
Activities: Notice of Intent To Renew FOR FURTHER INFORMATION CONTACT: Sue
have fished in Alaska will receive an McDonough, Office of General Counsel,
advance letter informing them that a Collection 3038–0067, Part 162 Subpart
C—Identify Theft Red Flags Commodity Futures Trading
survey is on its way. A few days later Commission, 1155 21st Street NW.,
the initial questionnaire will arrive. In AGENCY: Commodity Futures Trading Washington, DC 20581; (202) 418–5132,
subsequent weeks, a reminder postcard, Commission. email: smcdonough@cftc.gov.
a reminder telephone call, and a second
ACTION: Notice. SUPPLEMENTARY INFORMATION: Under the
questionnaire will be mailed to
PRA, Federal agencies must obtain
respondents who have not completed SUMMARY: The Commodity Futures approval from the Office of Management
and returned the mail survey. The Trading Commission (‘‘CFTC’’ or and Budget (OMB) for each collection of
reminder telephone calls will collect ‘‘Commission’’) is announcing an information they conduct or sponsor.
information from individuals who have opportunity for public comment on the ‘‘Collection of Information’’ is defined
not responded to the mail survey and proposed renewal of a collection of in 44 U.S.C. 3502(3) and 5 CFR 1320.3
encourage them to complete and return certain information by the agency. and includes agency requests or
the survey. Under the Paperwork Reduction Act requirements that members of the public
III. Data (‘‘PRA’’), Federal agencies are required submit reports, keep records, or provide
to publish notice in the Federal Register information to a third party. Section
OMB Control Number: 0648–0639.
Form Number(s): None. concerning each proposed collection of 3506(c)(2)(A) of the PRA, 44 U.S.C.
Type of Review: Regular information, including each proposed 3506(c)(2)(A), requires Federal agencies
(reinstatement with changes). extension of an existing collection of to provide a 60-day notice in the
Affected Public: Individuals or information, and to allow 60 days for Federal Register concerning each
households. public comment. This notice solicits proposed collection of information
Estimated Number of Respondents: comments on the duties of CFTC before submitting the collection to OMB
3,000. registrants to design, develop and for approval. To comply with this
Estimated Time per Response: 30 implement reasonable policies and requirement, the CFTC is publishing
minutes. procedures to identify relevant red flags notice of the proposed collection of
Estimated Total Annual Burden (the ‘‘Identity Theft Red Flags Rules’’), information listed below.
Hours: 1,500 hours. and potentially to notify cardholders of Title: Part 162 Subpart C—Identify
Estimated Total Annual Cost to identity theft risks. Regulations in part Theft Red Flags (OMB Control No.
Public: $0 in recordkeeping/reporting 162 subpart C—Identify Theft Red Flags, 3038–0067). This is a request for
including the information collection extension of a currently approved
sradovich on DSK3TPTVN1PROD with NOTICES
costs.
requirements thereunder, are designed information collection.
IV. Request for Comments to better protect investors from the risks Abstract: This collection of
Comments are invited on: (a) Whether of identity theft, and, in the case of information is needed because under
the proposed collection of information entities that issue credit or debit cards, part 162 subpart C—Identify Theft,
is necessary for the proper performance to assess the validity of, and CFTC-regulated entities are required to
of the functions of the agency, including communicate with cardholders develop and implement reasonable
whether the information shall have regarding, address changes. policies and procedures to identify,
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accordingly, staff estimates that there is cybersecurity incident involving DEPARTMENT OF EDUCATION
no hour burden related to section 162.32 background investigation records and to
for CFTC-regulated entities. send a letter confirming status as Privacy Act of 1974; Computer
In total, CFTC staff estimates that the ‘‘impacted’’ or ‘‘not impacted’’ by this Matching Program Between the
aggregate annual information collection incident. Once the minimally required Department of Education and the
burden of part 162 subpart C—Identity information has been input into the Department of Veterans Affairs
Theft is 10,701 hours (2,507 hours + OPM secure portal, it will be compared
AGENCY: Department of Education.
8,194 hours). Compliance with part 162 to an electronic master file and
subpart C—Identity Theft, including verification will be accomplished ACTION: Notice.
compliance with the information electronically. After the Government has SUMMARY: This document provides
collection requirements thereunder, is validated the individual’s status, the notice of the continuation of the
mandatory for each CFTC regulated DoD Defense Manpower Data Center computer matching program between
entity that qualifies as a ‘‘financial (DMDC) will generate and mail a the Department of Education (ED)
institution’’ or ‘‘creditor’’ under Part 162 response letter. This letter will either (recipient agency) and the Department
Subpart C—Identity Theft (as discussed confirm eligibility and contain a PIN for of Veterans Affairs (VA) (source agency).
above, certain collections of information impacted individuals, or confirm that The continuation is effective on the date
under Part 162 Subpart C—Identity the individual was not impacted by this in paragraph 5 of this notice.
Theft are mandatory only for financial cybersecurity incident.
SUPPLEMENTARY INFORMATION: In
institutions or creditors that offer or Affected Public: Individuals or accordance with the Privacy Act of
maintain covered accounts). households. 1974, as amended (5 U.S.C. 552a), the
Frequency of collection: Ongoing. Frequency: On occasion. following information is provided:
There are no capital costs or operating Respondent’s Obligation: Required to 1. Names of Participating Agencies.
and maintenance costs associated with obtain or retain benefits. ED and VA.
this collection. OMB Desk Officer: Ms. Jasmeet 2. Purpose of the Match.
Authority: 44 U.S.C. 3501 et seq. Seehra. The purpose of this matching program
Dated: May 26, 2016. Comments and recommendations on is to assist the Secretary of Education
Robert N. Sidman, the proposed information collection with verification of a veteran’s status
should be emailed to Ms. Jasmeet during the review of applications for
Deputy Secretary of the Commission.
Seehra, DoD Desk Officer, at financial assistance under title IV of the
[FR Doc. 2016–12858 Filed 5–31–16; 8:45 am]
Oira_submission@omb.eop.gov. Please Higher Education Act of 1965, as
BILLING CODE 6351–01–P
identify the proposed information amended (HEA).
collection by DoD Desk Officer and the The Secretary of Education is
Docket ID number and title of the authorized by the HEA to administer the
DEPARTMENT OF DEFENSE information collection. title IV programs and to enforce the
You may also submit comments and terms and conditions of the HEA.
Office of the Secretary
recommendations, identified by Docket Section 480(c)(1) of the HEA defines
[Docket ID: DoD–2015–OS–0097] ID number and title, by the following the term ‘‘veteran’’ to mean ‘‘any
method: individual who (A) has engaged in the
Submission for OMB Review; • Federal eRulemaking Portal: http:// active duty in the United States Army,
Comment Request www.regulations.gov. Follow the Navy, Air Force, Marines, or Coast
instructions for submitting comments. Guard; and (B) was released under a
ACTION: Notice. condition other than dishonorable.’’ (20
Instructions: All submissions received
SUMMARY: The Department of Defense must include the agency name, Docket U.S.C. 1087vv(c)(1)). Under section
has submitted to OMB for clearance, the ID number and title for this Federal 480(d)(1)(D) of the HEA, an applicant
following proposal for collection of Register document. The general policy who is a veteran (as defined in section
information under the provisions of the for comments and other submissions 480(c)(1)) is considered an independent
Paperwork Reduction Act. from members of the public is to make student for purposes of title IV, HEA
these submissions available for public program assistance eligibility, and
DATES: Consideration will be given to all
viewing on the Internet at http:// therefore does not have to provide
comments received by July 1, 2016.
www.regulations.gov as they are parental income and asset information
FOR FURTHER INFORMATION CONTACT: Fred to apply for title IV, HEA program
received without change, including any
Licari, 571–372–0493. assistance. (20 U.S.C. 1087vv(d)(1)(D)).
personal identifiers or contact
SUPPLEMENTARY INFORMATION: information. 3. Authority for Conducting the
Title, Associated Form and OMB DoD Clearance Officer: Mr. Frederick Matching Program.
Number: Collection of Required Data Licari. ED is authorized to participate in the
Elements to Verify Eligibility; OMB Written requests for copies of the matching program under sections
Control Number 0704–0545. information collection proposal should 480(c)(1) and 480(d)(1)(D) of the HEA
Type of Request: Extension be sent to Mr. Licari at WHS/ESD (20 U.S.C. 1087vv(c)(1) and (d)(1)(D)).
Number of Respondents: 1,000,000. Directives Division, 4800 Mark Center VA is authorized to participate in the
Responses per Respondent: 1. Drive, East Tower, Suite 02G09, matching program under 38 U.S.C. 523.
Annual Responses: 1,000,000. 4. Categories of Records and
sradovich on DSK3TPTVN1PROD with NOTICES
Alexandria, VA 22350–3100.
Average Burden per Response: 5 Individuals Covered by the Match.
minutes. Dated: May 26, 2016. ED will provide the Social Security
Annual Burden Hours: 83,333. Aaron Siegel, number and other identifying
Needs and Uses: The information Alternate OSD Federal Register Liaison information of each applicant for
collection requirement is necessary for Officer, Department of Defense. financial assistance under title IV of the
the Government to verify whether or not [FR Doc. 2016–12855 Filed 5–31–16; 8:45 am] HEA who indicates veteran status. This
an individual was impacted by the OPM BILLING CODE 5001–06–P information will be disclosed from the
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Document Created: 2018-02-08 07:26:55
Document Modified: 2018-02-08 07:26:55
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | Notice. | |
| Dates | Comments must be submitted on or before August 1, 2016. | |
| Contact | Sue McDonough, Office of General Counsel, Commodity Futures Trading Commission, 1155 21st Street NW., Washington, DC 20581; (202) 418-5132, email: [email protected] | |
| FR Citation | 81 FR 35001 |
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