82 FR 32345 - Agency Information Collection Activities Under OMB Review
COMMODITY FUTURES TRADING COMMISSION Federal Register Volume 82, Issue 133 (July 13, 2017)
Federal Register Volume 82, Issue 133 (July 13, 2017)
| Page Range | 32345-32346 | |
| FR Document | 2017-14647 |
[Federal Register Volume 82, Number 133 (Thursday, July 13, 2017)] [Notices] [Pages 32345-32346] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-14647] ======================================================================= ----------------------------------------------------------------------- COMMODITY FUTURES TRADING COMMISSION Agency Information Collection Activities Under OMB Review AGENCY: Commodity Futures Trading Commission. ACTION: Notice. ----------------------------------------------------------------------- SUMMARY: In compliance with the Paperwork Reduction Act of 1995 (PRA), this notice announces that the Information Collection Request (ICR) abstracted below has been forwarded to the Office of Management and Budget (OMB) for review and comment. The ICR describes the nature of the information collection and its expected costs and burden. DATES: Comments must be submitted on or before August 14, 2017. ADDRESSES: Comments regarding the burden estimated or any other aspect of the information collection, including suggestions for reducing the burden, may be submitted directly to the Office of Information and Regulatory Affairs (OIRA) in OMB, within 30 days of the notice's publication, by email at [email protected]. Please identify the comments by OMB Control No. 3038-0070. Please provide the Commission with a copy of all submitted documents at the address listed below. Please refer to OMB Control No. 3038-0070, found on http://reginfo.gov. Comments may also be mailed to the Office of Information and Regulatory Affairs, Office of Management and Budget, Attention: Desk Officer for the Commodity Futures Trading Commission, 725 17th Street NW., Washington, DC 20503. You may also submit comments, identified by ``Renewal of Collection Pertaining to Real-Time Public Reporting and Block Trade,'' to the Commission 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. A copy of the supporting statements for the collection of information discussed above may be obtained by visiting http:// regInfo.gov. 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: John W. Dunfee, Assistant General Counsel, Office of General Counsel, Commodity Futures Trading Commission, (202) 418-5396; email: [email protected], and refer to OMB Control No. 3038-0070. SUPPLEMENTARY INFORMATION: Title: Real-Time Public Reporting and Block Trade (OMB Control No. 3038-0070). This is a request for extension of currently approved information collections. Abstract: Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) added to the Commodity Exchange Act (CEA) new section 2(a)(13), which establishes standards and requirements related to real-time reporting and the public availability of swap transaction and pricing data. Section 2(a)(13) and part 43 of the Commission's Regulations require reporting parties to publish real-time swap transactions and pricing data to the general public. Without the frequency of reporting set forth in part 43, the Commission would not be able to adequately assess the swap markets and, more importantly, would fail to achieve the frequency of reporting and promotion of increased price discovery in the swaps market which are mandated by the Dodd-Frank Act. Burden Statement: Part 43 of the Commission's regulations results in three information collection requirements within the meaning of the PRA.\1\ The first collection of information requirement under part 43 imposes a reporting requirement on registered swap execution facilities (``SEFs'') or designated contract markets (``DCMs'') when a swap is executed on a trading facility or on the parties to a swap transaction when the swap is executed bilaterally. The second collection of information requirement under part 43 of the Commission's regulations creates a public dissemination requirement on registered swap data repositories (``SDRs''). The third collection of information requirement imposes a recordkeeping requirement for SEFs, DCMs, SDRs and any reporting party (as such term is defined in part 43 of the Commission's regulations). --------------------------------------------------------------------------- \1\ See 77 FR 1182, 1229; 78 FR 32866, 32913. --------------------------------------------------------------------------- The Commission notes that rather than the initial estimate of 40 SEFs, there currently are 25 SEFs either registered with the Commission or with registration pending.\2\ The Commission notes that rather than the initial estimate of 18 DCMs, there currently are 15 DCMs registered with the Commission.\3\ The Commission notes that rather than the initial estimate of 15 SDRs, there currently are 4 SDRs registered with the Commission.\4\ Based on the experience gained by the Commission with regard to SDRs, the Commission estimates that rather than the initial estimate of 750 reporting parties who are not swap dealers (``SDs'') or major swap participants (``MSPs''), and who contract with third parties to satisfy their reporting obligations, there are 496 such reporting [[Page 32346]] parties.\5\ The Commission estimates that rather than the initial estimate of 250 reporting parties who are not swap dealers (``SDs'') or major swap participants (``MSPs''), and who satisfy their reporting obligations themselves, there are 207 such reporting parties.\6\ The burden hours for each entity category based upon these new estimates are noted in the applicable table below. --------------------------------------------------------------------------- \2\ See 77 FR at 1229. \3\ See 77 FR at 1229. \4\ See 77 FR at 1230. \5\ See 77 FR at 1230. \6\ See 77 FR at 1230. Recurring Annual Burden Hours for SEFs ------------------------------------------------------------------------ ------------------------------------------------------------------------- Respondents/Affected Entities: SEFs. Estimated number of respondents: 25. Estimated total annual burden on respondents: 52,000 hours.\7\ ------------------------------------------------------------------------ Recurring Annual Burden Hours for SEFs ------------------------------------------------------------------------ ------------------------------------------------------------------------- Respondents/Affected Entities: DCMs. Estimated number of respondents: 15. Estimated total annual burden on respondents: 31,200 hours.\8\ ------------------------------------------------------------------------ Recurring Annual Burden Hours for SDRs ------------------------------------------------------------------------ ------------------------------------------------------------------------- Respondents/Affected Entities: SDRs. Estimated number of respondents: 4. Estimated total annual burden on respondents: 27,600 hours.\9\ ------------------------------------------------------------------------ Recurring Annual Burden Hours for Non SD/MSPs Using Third Party ------------------------------------------------------------------------ ------------------------------------------------------------------------- Respondents/Affected Entities: Non SD/MSPs Using Third Party. Estimated number of respondents: 496. Estimated total annual burden on respondents: 10,912 hours.\10\ ------------------------------------------------------------------------ Recurring Annual Burden Hours for Non SD/MSPs Reporting Themselves ------------------------------------------------------------------------ ------------------------------------------------------------------------- Respondents/Affected Entities: Non SD/MSPs Reporting Themselves. Estimated number of respondents: 207. Estimated total annual burden on respondents: 139,932 hours.\11\ ------------------------------------------------------------------------ --------------------------------------------------------------------------- \7\ 2,080 average recurring burden hours per respondent SEF x 25 registered SEFs = 52,000 total burden hours for all registered SEFs. \8\ 2,080 average recurring burden hours per respondent DCM x 15 registered DCMs = 31,200 total burden hours for all registered DCMs. \9\ 6,900 average recurring burden hours per respondent SDR x 4 registered SDRs = 27,600 total burden hours for all registered SDRs. \10\ 22 average recurring burden hours per respondent x 496 respondents = 10,912 total burden hours for all respondents. \11\ 676 average recurring burden hours per respondent x 207 respondents = 139,932 total burden hours for all respondents. --------------------------------------------------------------------------- In addition to the above burden hours for compliance with part 43 obligations generally, the Commission determined that certain market participants would incur burden hours associated with the masking of the geographic detail of the underlying assets to a swap in the other commodity asset class, and with the election to have a swap transaction treated as a block trade or large notional off-facility swap.\12\ The Commission initially estimated that respondent SDRs would incur an aggregate of 833 annual burden hours in connection with the masking of geographic detail of the underlying assets to a swap in the other commodity asset class.\13\ Based on the Commission's observation of registered SDRs' operations and compliance with part 43's requirements, the Commission is increasing this estimate and now estimates that SDRs will incur an aggregate of 3,307 annual burden hours in connection with the masking of geographic detail of the underlying assets to a swap in the other commodity asset class.\14\ --------------------------------------------------------------------------- \12\ See 78 FR 32866, 32913. \13\ See 78 FR 32866, 32915 (50,000 other commodity swaps with masked locations x 0.0167 hours (one minute) of burden per response = 833 total burden hours). \14\ 198,022 other commodity swaps with masked locations x 0.0167 hours (one minute) of burden per response = 3,307 total annual burden hours. --------------------------------------------------------------------------- The Commission initially estimated that market participants would incur an aggregate of 2,167 annual burden hours in connection with the election to have a swap transaction treated as a block trade.\15\ Based on the Commission's observation of market participants' compliance with part 43's requirements, the Commission is increasing this estimate and now estimates that market participants will incur an aggregate of 3,648 annual burden hours in connection with the election to have a swap transaction treated as a block trade.\16\ --------------------------------------------------------------------------- \15\ See 78 FR 32866, 32913-14 (125,000 elections by SDs/MSPs + 5,000 elections by nonSDs/MSPs = 130,000 total annual elections. 130,000 elections x 0.0167 hours (one minute) of burden per response = 2,167 total annual burden hours). \16\ 218,428 block trades x 0.0167 hours (one minute) of burden per response = 3,648 total annual burden hours. --------------------------------------------------------------------------- The Commission initially estimated that market participants would incur an aggregate of 2,255 annual burden hours in connection with the election to have a swap transaction treated as a large notional off- facility swap.\17\ Based on the Commission's observation of market participants' compliance with part 43's requirements, the Commission is increasing this estimate and now estimates that market participants will incur an aggregate of 77,230 annual burden hours in connection with the election to have a swap transaction treated as a large notional off-facility swap.\18\ --------------------------------------------------------------------------- \17\ See 78 FR 32866, 32914 (62,500 elections by SDs/MSPs + 5,000 elections by nonSDs/MSPs = 63,000 total annual elections. 67,500 elections x 0.0334 hours (two minutes) of burden per response = 2,255 total annual burden hours). \18\ 2,312,265 large notional off-facility swaps x 0.0334 hours (two minutes) of burden per response = 77,230 total annual burden hours. --------------------------------------------------------------------------- Authority: 44 U.S.C. 3501 et seq. Dated: July 7, 2017. Robert N. Sidman, Deputy Secretary of the Commission. [FR Doc. 2017-14647 Filed 7-12-17; 8:45 am] BILLING CODE 6351-01-P
![Federal Register / Vol. 82, No. 133 / Thursday, July 13, 2017 / Notices 32345
between one week and eight weeks of ADDRESSES: Comments regarding the Protection Act (Dodd-Frank Act) added
age. Protocols not requiring sedation burden estimated or any other aspect of to the Commodity Exchange Act (CEA)
(mass, morphometrics, core and surface the information collection, including new section 2(a)(13), which establishes
temperatures, metabolic rates) as well as suggestions for reducing the burden, standards and requirements related to
protocols requiring anesthesia (body may be submitted directly to the Office real-time reporting and the public
composition, biopsies, and blood of Information and Regulatory Affairs availability of swap transaction and
volume analysis) will be conducted on (OIRA) in OMB, within 30 days of the pricing data. Section 2(a)(13) and part
five individuals at all four time points notice’s publication, by email at 43 of the Commission’s Regulations
under manual restraint. Metabolic and OIRAsubmissions@omb.eop.gov. Please require reporting parties to publish real-
morphometric measurements will be identify the comments by OMB Control time swap transactions and pricing data
conducted on a separate cohort of five No. 3038–0070. Please provide the to the general public. Without the
pups at each of the four time points. The Commission with a copy of all frequency of reporting set forth in part
applicant is also proposing to take up to submitted documents at the address 43, the Commission would not be able
350 animals for flipper tag reading, listed below. Please refer to OMB to adequately assess the swap markets
thermal imaging, and incidental Control No. 3038–0070, found on http:// and, more importantly, would fail to
harassment due to work with reginfo.gov. Comments may also be achieve the frequency of reporting and
conspecifics. Take of seven Weddell mailed to the Office of Information and promotion of increased price discovery
seal pups, 15 Weddell seal adult Regulatory Affairs, Office of in the swaps market which are
females, and 20 crabeater seals is also Management and Budget, Attention: mandated by the Dodd-Frank Act.
requested due to harassment from Desk Officer for the Commodity Futures Burden Statement: Part 43 of the
capturing the Weddell seal pups. Up to Trading Commission, 725 17th Street Commission’s regulations results in
two pup mortalities are requested NW., Washington, DC 20503. You may three information collection
annually, not to exceed three over the also submit comments, identified by requirements within the meaning of the
two field seasons. The permit would be ‘‘Renewal of Collection Pertaining to PRA.1 The first collection of information
valid for two years. Real-Time Public Reporting and Block requirement under part 43 imposes a
In compliance with the National Trade,’’ to the Commission by any of the reporting requirement on registered
Environmental Policy Act of 1969 (42 following methods: swap execution facilities (‘‘SEFs’’) or
U.S.C. 4321 et seq.), an initial • The Agency’s Web site, at http:// designated contract markets (‘‘DCMs’’)
determination has been made that the comments.cftc.gov/. Follow the
activity proposed is categorically when a swap is executed on a trading
instructions for submitting comments facility or on the parties to a swap
excluded from the requirement to through the Web site.
prepare an environmental assessment or transaction when the swap is executed
• Mail: Christopher Kirkpatrick, bilaterally. The second collection of
environmental impact statement. Secretary of the Commission,
Concurrent with the publication of information requirement under part 43
Commodity Futures Trading of the Commission’s regulations creates
this notice in the Federal Register, Commission, Three Lafayette Centre,
NMFS is forwarding copies of the a public dissemination requirement on
1155 21st Street NW., Washington, DC registered swap data repositories
application to the Marine Mammal 20581.
Commission and its Committee of (‘‘SDRs’’). The third collection of
• Hand Delivery/Courier: Same as information requirement imposes a
Scientific Advisors. Mail above. recordkeeping requirement for SEFs,
Dated: July 10, 2017. • Federal eRulemaking Portal: http:// DCMs, SDRs and any reporting party (as
Donna S. Wieting, www.regulations.gov/. Follow the such term is defined in part 43 of the
Director, Office of Protected Resources, instructions for submitting comments Commission’s regulations).
National Marine Fisheries Service. through the Portal.
Please submit your comments using The Commission notes that rather
[FR Doc. 2017–14714 Filed 7–12–17; 8:45 am]
only one method. than the initial estimate of 40 SEFs,
BILLING CODE 3510–22–P
A copy of the supporting statements there currently are 25 SEFs either
for the collection of information registered with the Commission or with
discussed above may be obtained by registration pending.2 The Commission
COMMODITY FUTURES TRADING notes that rather than the initial
COMMISSION visiting http://regInfo.gov. All
comments must be submitted in estimate of 18 DCMs, there currently are
Agency Information Collection English, or if not, accompanied by an 15 DCMs registered with the
Activities Under OMB Review English translation. Comments will be Commission.3 The Commission notes
posted as received to http:// that rather than the initial estimate of 15
AGENCY: Commodity Futures Trading www.cftc.gov. SDRs, there currently are 4 SDRs
Commission. registered with the Commission.4 Based
ACTION: Notice. FOR FURTHER INFORMATION CONTACT: John on the experience gained by the
W. Dunfee, Assistant General Counsel, Commission with regard to SDRs, the
SUMMARY: In compliance with the Office of General Counsel, Commodity Commission estimates that rather than
Paperwork Reduction Act of 1995 Futures Trading Commission, (202) the initial estimate of 750 reporting
(PRA), this notice announces that the 418–5396; email: jdunfee@cftc.gov, and parties who are not swap dealers
Information Collection Request (ICR) refer to OMB Control No. 3038–0070. (‘‘SDs’’) or major swap participants
abstracted below has been forwarded to
sradovich on DSK3GMQ082PROD with NOTICES
SUPPLEMENTARY INFORMATION: (‘‘MSPs’’), and who contract with third
the Office of Management and Budget Title: Real-Time Public Reporting and parties to satisfy their reporting
(OMB) for review and comment. The Block Trade (OMB Control No. 3038– obligations, there are 496 such reporting
ICR describes the nature of the 0070). This is a request for extension of
information collection and its expected currently approved information 1 See 77 FR 1182, 1229; 78 FR 32866, 32913.
costs and burden. collections. 2 See 77 FR at 1229.
DATES: Comments must be submitted on Abstract: Title VII of the Dodd-Frank 3 See 77 FR at 1229.
or before August 14, 2017. Wall Street Reform and Consumer 4 See 77 FR at 1230.
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![32346 Federal Register / Vol. 82, No. 133 / Thursday, July 13, 2017 / Notices
parties.5 The Commission estimates that In addition to the above burden hours the Commission’s observation of market
rather than the initial estimate of 250 for compliance with part 43 obligations participants’ compliance with part 43’s
reporting parties who are not swap generally, the Commission determined requirements, the Commission is
dealers (‘‘SDs’’) or major swap that certain market participants would increasing this estimate and now
participants (‘‘MSPs’’), and who satisfy incur burden hours associated with the estimates that market participants will
their reporting obligations themselves, masking of the geographic detail of the incur an aggregate of 77,230 annual
there are 207 such reporting parties.6 underlying assets to a swap in the other burden hours in connection with the
The burden hours for each entity commodity asset class, and with the election to have a swap transaction
category based upon these new election to have a swap transaction treated as a large notional off-facility
estimates are noted in the applicable treated as a block trade or large notional swap.18
table below. off-facility swap.12 The Commission Authority: 44 U.S.C. 3501 et seq.
initially estimated that respondent SDRs
would incur an aggregate of 833 annual Dated: July 7, 2017.
RECURRING ANNUAL BURDEN HOURS
burden hours in connection with the Robert N. Sidman,
FOR SEFS
masking of geographic detail of the Deputy Secretary of the Commission.
Respondents/Affected Entities: SEFs. underlying assets to a swap in the other [FR Doc. 2017–14647 Filed 7–12–17; 8:45 am]
Estimated number of respondents: 25. commodity asset class.13 Based on the BILLING CODE 6351–01–P
Estimated total annual burden on respond- Commission’s observation of registered
ents: 52,000 hours.7 SDRs’ operations and compliance with
part 43’s requirements, the Commission CORPORATION FOR NATIONAL AND
RECURRING ANNUAL BURDEN HOURS is increasing this estimate and now COMMUNITY SERVICE
estimates that SDRs will incur an
FOR SEFS
aggregate of 3,307 annual burden hours Agency Information Collection
in connection with the masking of Activities; Submission to the Office of
Respondents/Affected Entities: DCMs.
Estimated number of respondents: 15.
geographic detail of the underlying Management and Budget for Review
Estimated total annual burden on respond- assets to a swap in the other commodity and Approval; Comment Request;
ents: 31,200 hours.8 asset class.14 Application Package for Renewal of
The Commission initially estimated the Disaster Response Cooperative
that market participants would incur an Agreement (DRCA)
RECURRING ANNUAL BURDEN HOURS aggregate of 2,167 annual burden hours
FOR SDRS in connection with the election to have AGENCY: Corporation for National and
a swap transaction treated as a block Community Service (CNCS).
Respondents/Affected Entities: SDRs. trade.15 Based on the Commission’s ACTION: Notice of information collection;
Estimated number of respondents: 4. observation of market participants’ request for comment.
Estimated total annual burden on respond- compliance with part 43’s requirements,
ents: 27,600 hours.9 the Commission is increasing this SUMMARY: In accordance with the
estimate and now estimates that market Paperwork Reduction Act of 1995,
participants will incur an aggregate of CNCS is proposing to renew an
RECURRING ANNUAL BURDEN HOURS information collection.
FOR NON SD/MSPS USING THIRD 3,648 annual burden hours in
connection with the election to have a DATES: Written comments must be
PARTY submitted to the individual and office
swap transaction treated as a block
trade.16 listed below by September 11, 2017.
Respondents/Affected Entities: Non SD/
The Commission initially estimated ADDRESSES: To access and review all the
MSPs Using Third Party.
Estimated number of respondents: 496. that market participants would incur an documents related to the information
Estimated total annual burden on respond- aggregate of 2,255 annual burden hours collection listed in this notice, please
ents: 10,912 hours.10 in connection with the election to have use http://www.regulations.gov. You
a swap transaction treated as a large may submit comments, identified by the
notional off-facility swap.17 Based on title of the information collection
RECURRING ANNUAL BURDEN HOURS activity by any of the following
FOR NON SD/MSPS REPORTING 10 22 average recurring burden hours per
methods:
THEMSELVES respondent × 496 respondents = 10,912 total burden (1) By mail sent to: Corporation for
hours for all respondents.
11 676 average recurring burden hours per
National and Community Service,
Respondents/Affected Entities: Non SD/ respondent × 207 respondents = 139,932 total Attention: Chad Stover, Disaster
MSPs Reporting Themselves. burden hours for all respondents. Services, 250 E St. SW., Suite 300,
Estimated number of respondents: 207. 12 See 78 FR 32866, 32913.
Washington, DC 20525.
Estimated total annual burden on respond- 13 See 78 FR 32866, 32915 (50,000 other
(2) By hand delivery or by courier to
ents: 139,932 hours.11 commodity swaps with masked locations × 0.0167 the CNCS mailroom, Room 4200 at the
hours (one minute) of burden per response = 833
total burden hours). mailing address above, between 9:00
14 198,022 other commodity swaps with masked a.m. and 4:00 p.m. Eastern Time,
locations × 0.0167 hours (one minute) of burden per Monday through Friday, except Federal
5 See 77 FR at 1230. response = 3,307 total annual burden hours. holidays.
6 See 77 FR at 1230. 15 See 78 FR 32866, 32913–14 (125,000 elections
(3) Electronically through
sradovich on DSK3GMQ082PROD with NOTICES
7 2,080 average recurring burden hours per
by SDs/MSPs + 5,000 elections by nonSDs/MSPs =
respondent SEF × 25 registered SEFs = 52,000 total 130,000 total annual elections. 130,000 elections × www.regulations.gov.
burden hours for all registered SEFs. 0.0167 hours (one minute) of burden per response
8 2,080 average recurring burden hours per = 2,167 total annual burden hours). 63,000 total annual elections. 67,500 elections ×
respondent DCM × 15 registered DCMs = 31,200 16 218,428 block trades × 0.0167 hours (one 0.0334 hours (two minutes) of burden per response
total burden hours for all registered DCMs. minute) of burden per response = 3,648 total annual = 2,255 total annual burden hours).
9 6,900 average recurring burden hours per burden hours. 18 2,312,265 large notional off-facility swaps ×
respondent SDR × 4 registered SDRs = 27,600 total 17 See 78 FR 32866, 32914 (62,500 elections by 0.0334 hours (two minutes) of burden per response
burden hours for all registered SDRs. SDs/MSPs + 5,000 elections by nonSDs/MSPs = = 77,230 total annual burden hours.
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Document Created: 2017-07-13 01:00:27
Document Modified: 2017-07-13 01:00:27
| 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 14, 2017. | |
| Contact | John W. Dunfee, Assistant General Counsel, Office of General Counsel, Commodity Futures Trading Commission, (202) 418-5396; email: [email protected], and refer to OMB Control No. 3038-0070. | |
| FR Citation | 82 FR 32345 |
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