| Page Range | 33069-33070 | |
| FR Document | 2017-15091 |
[Federal Register Volume 82, Number 137 (Wednesday, July 19, 2017)] [Notices] [Pages 33069-33070] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-15091] ======================================================================= ----------------------------------------------------------------------- COMMODITY FUTURES TRADING COMMISSION Agency Information Collection Activities Under OMB Review AGENCY: Commodity Futures Trading Commission. ACTION: Notice of review. ----------------------------------------------------------------------- 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 18, 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. 3038-0103. Please provide the Commission with a copy of all submitted comments at the address listed below. Please refer to OMB Reference No. 3038-0103, 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, and to Christopher Kirkpatrick, Secretary of the Commission, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street NW., Washington, DC 20581; or through the Agency's Web site at http://comments.cftc.gov. Follow the instructions for submitting comments through the Web site. 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: Richard Mo, Special Counsel, Division of Market Oversight, at 202-418-7637 or [email protected] or David E. Aron, Special Counsel, Division of Market Oversight, at 202-418-6621 or [email protected], and refer to OMB Control No 3038-0103. SUPPLEMENTARY INFORMATION: Title: Ownership and Control Reports, Forms 102/102S, 40/40S, and 71 (Trader and Account Identification Reports) (OMB Control No. 3038- 0103). This is a request for extension of a currently approved information collection. Abstract: The Ownership and Control Reports (OCR) rules \1\ created new information collection requirements via Sec. Sec. 17.01, 18.04, 18.05, and 20.5. Specifically, Sec. 17.01 provides for the filing of Form 102A, Form 102B and Form 71, as follows: --------------------------------------------------------------------------- \1\ See Commission, Final Rule: Ownership and Control Reports, Forms 102/102S, 40/40S, and 71, 78 FR 69178 (November 18, 2013). Terms used herein and not otherwise defined herein shall have the meaning assigned to such terms in the OCR rules or in the Commission's regulations. ---------------------------------------------------------------------------Pursuant to Sec. 17.01(a), futures commission merchants (``FCMs''), clearing members, and foreign brokers shall identify new special accounts to the Commission on Form 102A;\2\ --------------------------------------------------------------------------- \2\ Form 102A is an updated version of old Form 102, which was titled ``Identification of Special Accounts.'' Form 102A collects information with respect to position-based special accounts in the futures market. Form 102A also requires clearing members to identify the individual trading accounts underlying these special accounts. --------------------------------------------------------------------------- pursuant to Sec. 17.01(b), clearing members shall identify volume threshold accounts to the Commission on Form 102B; and pursuant to Sec. 17.01(c), omnibus volume threshold account originators and omnibus reportable sub-account originators shall identify reportable sub-accounts to the Commission on Form 71 when requested via a special call by the Commission or its designee. Additional reporting requirements arise from Sec. 18.04, which results in the collection of information via Form 40 from and regarding traders who own, hold, or control reportable positions; volume threshold account controllers; persons who own volume threshold accounts; reportable sub-account controllers; and persons who own reportable sub-accounts. Reporting requirements also arise from Sec. 20.5(a), which requires 102S reporting entities to submit Form 102S for swap counterparty or customer consolidated accounts with reportable positions. In addition, Sec. 20.5(b) requires every person subject to books or records under current Sec. 20.6 to complete a 40S filing after a special call upon such person by the Commission. In addition to the reporting requirements summarized above, Sec. 18.05 imposes recordkeeping requirements upon: (1) Traders who own, hold, or control a reportable futures or options on futures position; (2) volume threshold account [[Page 33070]] controllers; (3) persons who own volume threshold accounts; (4) reportable sub-account controllers; and (5) persons who own reportable sub-accounts. A 60-day notice of intent to renew collection 3038-0103 (the ``60- Day Notice'') was published in the Federal Register at 82 FR 12944 (March 8, 2017). In response to the 60-day Notice, the Commission received four comment letters from four entities, namely (a) the National Rural Electric Cooperative Association; (b) the Commercial Energy Working Group; (c) the International Energy Credit Association; and (d) Capital Confirmation, Inc. (non-substantive comment). The comment letters are available through the Commission's Web site at: https://comments.cftc.gov/PublicComments/CommentList.aspx?id=1781. Burden Statement: The Commission is updating its burden estimates in response to comment letters received. The Commission estimates the burden of this collection of information as follows: ---------------------------------------------------------------------------------------------------------------- Number of Annualized Total annual reporting burden per industry Estimated wage Annual Type of respondent parties per reporting burden rate industry costs year party (hours) (hours) ---------------------------------------------------------------------------------------------------------------- Form 102A ---------------------------------------------------------------------------------------------------------------- FCMs, clearing members, and 260 106 27,560 $75.13 $2,070,583 foreign brokers................ Form 102B ---------------------------------------------------------------------------------------------------------------- Clearing members................ 175 106 18,550 $75.13 $1,393,662 ---------------------------------------------------------------------------------------------------------------- Form 71 ---------------------------------------------------------------------------------------------------------------- Originators of omnibus volume 762 8 6,096 $75.13 $457,992 threshold accounts or omnibus reportable sub-accounts........ ---------------------------------------------------------------------------------------------------------------- Form 40 (arising from Form 102A) ---------------------------------------------------------------------------------------------------------------- Special account owners and 5,250 5 26,250 $75.13 $1,972,163 controllers.................... ---------------------------------------------------------------------------------------------------------------- Form 40 (arising from Form 102B and Form 71) ---------------------------------------------------------------------------------------------------------------- Volume threshold account 18,920 5 94,600 $75.13 $7,107,298 controllers and owners, reportable sub-account controllers and owners......... ---------------------------------------------------------------------------------------------------------------- Form 102S ---------------------------------------------------------------------------------------------------------------- Clearing members and swap 39 106 4,134 $75.13 $310,587 dealers........................ ---------------------------------------------------------------------------------------------------------------- Form 40S ---------------------------------------------------------------------------------------------------------------- Persons subject to books and 2,508 5 12,540 $75.13 $942,130 records requirements under Sec. 20.6......................... ---------------------------------------------------------------------------------------------------------------- Sec. 18.05 Recordkeeping Burden ---------------------------------------------------------------------------------------------------------------- Volume threshold account 53 5 265 $75.13 $19,909 controllers and owners, reportable sub-account controllers and owners, and traders who own, hold, or control reportable futures or option positions............... ---------------------------------------------------------------------------------------------------------------- Authority: 44 U.S.C. 3501 et seq. Dated: July 12, 2017. Robert N. Sidman, Deputy Secretary of the Commission. [FR Doc. 2017-15091 Filed 7-18-17; 8:45 am] BILLING CODE 6351-01-P
| 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 of review. | |
| Dates | Comments must be submitted on or before August 18, 2017. | |
| Contact | Richard Mo, Special Counsel, Division of Market Oversight, at 202-418-7637 or [email protected] or David E. Aron, Special Counsel, Division of Market Oversight, at 202-418-6621 or [email protected], and refer to OMB Control No 3038-0103. | |
| FR Citation | 82 FR 33069 |