82 FR 56221 - Agency Information Collection Activities Under OMB Review
COMMODITY FUTURES TRADING COMMISSION Federal Register Volume 82, Issue 227 (November 28, 2017)
Federal Register Volume 82, Issue 227 (November 28, 2017)
| Page Range | 56221-56222 | |
| FR Document | 2017-25698 |
[Federal Register Volume 82, Number 227 (Tuesday, November 28, 2017)] [Notices] [Pages 56221-56222] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-25698] ======================================================================= ----------------------------------------------------------------------- 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 December 28, 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 either of the following methods. Please identify the comments by OMB Control No. 3038-0091.By email addressed to: [email protected] or By mail addressed 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. A copy of all comments submitted to OIRA should be sent to the Commodity Futures Trading Commission (the ``Commission'') by either of the following methods. The copies should refer to ``OMB Control No. 3038-0062.'' By mail addressed to: Christopher Kirkpatrick, Secretary of the Commission, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street NW., Washington, DC 20581; By Hand Delivery/Courier to the same address; or Through the Commission's Web site at http://comments.cftc.gov. Please follow the instructions for submitting comments through the Web site. A copy of the supporting statements for the collection of information discussed herein 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. You should submit 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 Sec. 145.9 of the Commission's regulations. 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 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. FOR FURTHER INFORMATION CONTACT: Lauren Bennett, Special Counsel, 202- 418-5290, email: [email protected], Division of Swap Dealer and Intermediary Oversight, Commodity Futures Trading Commission and refer to OMB Control No. 3038-0062. SUPPLEMENTARY INFORMATION: Title: Off-Exchange Foreign Currency Transactions (OMB Control No. 3038-0062). This is a request for an extension of a currently approved information collection. Abstract: Part 5 of the Commission's regulations under the CEA establishes rules applicable to retail foreign exchange dealers (``RFEDs''), futures commission merchants (``FCMs''), introducing brokers (``IBs''), commodity trading advisors (``CTAs''), and commodity pool operators (``CPOs'') engaged in the offer and sale of off-exchange forex contracts to retail customers. Specifically: Regulation 5.5 requires RFEDs, FCMs, and IBs to distribute risk disclosure statements to new retail forex customers. Regulation 5.6 requires RFEDs and FCMs to report any failures to maintain the minimum capital required by Commission regulations. Regulation 5.8 requires RFEDs and FCMs to calculate their total retail forex obligation. Regulation 5.10 requires RFEDs to maintain and preserve certain risk assessment documentation. Regulation 5.11(a)(1) requires RFEDs to submit certain risk assessment documentation to the Commission within 60 days of the effective date of their registration. Regulation 5.11(a)(2) requires RFEDs to submit certain financial documentation to the Commission within 105 calendar days of the end of each fiscal year. RFEDs must also submit additional information, if requested, regarding affiliates' financial impact on an RFED's organizational structure. Regulation 5.12(a) requires RFED applicants to submit a Form 1-FR-FCM concurrently with their registration application. [[Page 56222]] Regulation 5.12(b) requires registered RFEDs to file a Form 1-FR-FCM on a monthly and annual basis. Regulation 5.12(g) states that, in the event that an RFED cannot file its Form 1-FR-FCM for any period within the time specified in Regulation 5.12(b), the RFED may file an application for an extension of time with its self-regulatory organization. Regulation 5.13(a) requires RFEDs and FCMs to provide monthly account statements to their customers. Regulation 5.13(b) requires RFEDs and FCMs to provide confirmation statements to their customers within one business day after the execution of any retail forex or forex option transaction. Regulation 5.14 requires RFEDs and FCMs to maintain current ledgers of each transaction affecting its asset, liability, income, expense and capital accounts. Regulation 5.18(g) requires each RFED, FCM, CPO, CTA, and IB subject to Part 5 to maintain a record of all communications received that give rise to possible violations of the Act, rules, regulations or orders thereunder related to their retail forex business. Regulation 5.18(i) requires each RFED and FCM to prepare and maintain on a quarterly basis a calculation of non-discretionary retail forex customer accounts open for any period of time during the quarter that were profitable, and the percentage of such accounts that were not profitable. Regulation 5.18(j) requires the CCO of each RFED and FCM to certify annually that the firm has in place processes to establish, maintain, review, modify and test policies and procedures reasonably designed to achieve compliance with the Act, rules, regulations and orders thereunder. Regulation 5.19 requires each RFED, FCM, CPO, CTA, and IB subject to Part 5 to submit to the Commission copies of any dispositive or partially dispositive decision for which a notice of appeal has been filed in any material legal proceeding (1) to which the firm is a party to or to which its property or assets is subject with respect to retail forex transactions, or (2) instituted against any person who is a principal of the firm arising from conduct in such person's capacity as a principal of that firm. Regulation 5.20 requires RFEDs, FCMs and IBs to submit documentation requested pursuant to certain types of special calls by the Commission. Regulation 5.23 requires RFEDs, FCMs and IBs to notify the Commission regarding bulk transfers and bulk liquidations of customer accounts. The rules establish reporting and recordkeeping requirements that are necessary to implement the provisions of the Food, Conservation, and Energy Act of 2008 \1\ regarding off-exchange transactions in foreign currency with members of the public. The rules are intended to promote customer protection by providing safeguards against irresponsible or fraudulent business practices.\2\ --------------------------------------------------------------------------- \1\ Public Law 110-246, 122 Stat. 1651, 2189-220 (2008). \2\ See Regulation of Off-Exchange Retail Foreign Exchange Transactions and Intermediaries, 75 FR 55410, 55416 (Sept. 10, 2010). --------------------------------------------------------------------------- An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid OMB control number. On September 18, 2017, the Commission published in the Federal Register notice of the proposed extension of this information collection and provided 60 days for public comment on the proposed extension, 82 FR 43527. The Commission received no relevant comments. Burden Statement: The Commission is revising its estimate of the burden for this collection to reflect the current number of affected registrants and revised burden estimates. Accordingly, the respondent burden for this collection is estimated to be as follows: Number of Registrants: 169. Estimated Average Burden Hours per Registrant: 777. Estimated Aggregate Burden Hours: 131,259. Frequency of Recordkeeping: As applicable. (Authority: 44 U.S.C. 3501 et seq.) Dated: November 22, 2017. Robert N. Sidman, Deputy Secretary of the Commission. [FR Doc. 2017-25698 Filed 11-27-17; 8:45 am] BILLING CODE 6351-01-P
![Federal Register / Vol. 82, No. 227 / Tuesday, November 28, 2017 / Notices 56221
This amended preliminary the Office of Management and Budget http://www.cftc.gov that it may deem to
determination is issued and published (‘‘OMB’’) for review and comment. The be inappropriate for publication, such as
in accordance with sections 733(f) and ICR describes the nature of the obscene language. All submissions that
777(i) of the Act and 19 CFR 351.224(e). information collection and its expected have been redacted or removed that
Dated: November 20, 2017. costs and burden. contain comments on the merits of the
Gary Taverman DATES: Comments must be submitted on ICR will be retained in the public
Deputy Assistant Secretary for Antidumping or before December 28, 2017. comment file and will be considered as
and Countervailing Duty Operations, ADDRESSES: Comments regarding the required under the Administrative
performing the non-exclusive functions and burden estimated or any other aspect of Procedure Act and other applicable
duties of the Assistant Secretary for the information collection, including laws, and may be accessible under the
Enforcement and Compliance. suggestions for reducing the burden, Freedom of Information Act.
Appendix may be submitted directly to the Office FOR FURTHER INFORMATION CONTACT:
of Information and Regulatory Affairs Lauren Bennett, Special Counsel, 202–
Scope of the Investigation 418–5290, email: lbennett@cftc.gov,
(‘‘OIRA’’) in OMB, within 30 days of the
The products covered by this investigation notice’s publication, by either of the Division of Swap Dealer and
are certain hot-rolled products of carbon steel following methods. Please identify the Intermediary Oversight, Commodity
and alloy steel, in coils, of approximately
round cross section, less than 19.00 mm in comments by OMB Control No. 3038– Futures Trading Commission and refer
actual solid cross-sectional diameter. 0091. to OMB Control No. 3038–0062.
Specifically excluded are steel products • By email addressed to: SUPPLEMENTARY INFORMATION:
possessing the above-noted physical OIRAsubmissions@omb.eop.gov or Title: Off-Exchange Foreign Currency
characteristics and meeting the Harmonized • By mail addressed to: The Office of Transactions (OMB Control No. 3038–
Tariff Schedule of the United States (HTSUS) Information and Regulatory Affairs,
definitions for (a) stainless steel; (b) tool
0062). This is a request for an extension
Office of Management and Budget, of a currently approved information
steel; (c) high-nickel steel; (d) ball bearing Attention Desk Officer for the
steel; or (e) concrete reinforcing bars and collection.
rods. Also excluded are free cutting steel
Commodity Futures Trading Abstract: Part 5 of the Commission’s
(also known as free machining steel) Commission, 725 17th Street NW., regulations under the CEA establishes
products (i.e., products that contain by Washington, DC 20503. rules applicable to retail foreign
weight one or more of the following A copy of all comments submitted to exchange dealers (‘‘RFEDs’’), futures
elements: 0.1 percent or more of lead, 0.05 OIRA should be sent to the Commodity commission merchants (‘‘FCMs’’),
percent or more of bismuth, 0.08 percent or Futures Trading Commission (the
more of sulfur, more than 0.04 percent of introducing brokers (‘‘IBs’’), commodity
‘‘Commission’’) by either of the trading advisors (‘‘CTAs’’), and
phosphorous, more than 0.05 percent of following methods. The copies should
selenium, or more than 0.01 percent of commodity pool operators (‘‘CPOs’’)
tellurium). All products meeting the physical
refer to ‘‘OMB Control No. 3038–0062.’’ engaged in the offer and sale of off-
description of subject merchandise that are • By mail addressed to: Christopher exchange forex contracts to retail
not specifically excluded are included in this Kirkpatrick, Secretary of the customers. Specifically:
scope. Commission, Commodity Futures
• Regulation 5.5 requires RFEDs,
The products under investigation are Trading Commission, Three Lafayette
currently classifiable under subheadings
FCMs, and IBs to distribute risk
Centre, 1155 21st Street NW.,
7213.91.3011, 7213.91.3015, 7213.91.3020, disclosure statements to new retail forex
Washington, DC 20581;
customers.
7213.91.3093; 7213.91.4500, 7213.91.6000, • By Hand Delivery/Courier to the
7213.99.0030, 7227.20.0030, 7227.20.0080,
same address; or • Regulation 5.6 requires RFEDs and
7227.90.6010, 7227.90.6020, 7227.90.6030, FCMs to report any failures to maintain
and 7227.90.6035 of the HTSUS. Products • Through the Commission’s Web site
at http://comments.cftc.gov. Please the minimum capital required by
entered under subheadings 7213.99.0090 and Commission regulations.
7227.90.6090 of the HTSUS also may be follow the instructions for submitting
included in this scope if they meet the comments through the Web site. • Regulation 5.8 requires RFEDs and
physical description of subject merchandise A copy of the supporting statements FCMs to calculate their total retail forex
above. Although the HTSUS subheadings are for the collection of information obligation.
provided for convenience and customs discussed herein may be obtained by • Regulation 5.10 requires RFEDs to
purposes, the written description of the visiting http://RegInfo.gov. maintain and preserve certain risk
scope of this proceeding is dispositive. assessment documentation.
All comments must be submitted in
[FR Doc. 2017–25658 Filed 11–27–17; 8:45 am] English, or if not, accompanied by an • Regulation 5.11(a)(1) requires
BILLING CODE 3510–DS–P English translation. Comments will be RFEDs to submit certain risk assessment
posted as received to http:// documentation to the Commission
www.cftc.gov. You should submit only within 60 days of the effective date of
COMMODITY FUTURES TRADING information that you wish to make their registration.
COMMISSION available publicly. If you wish the • Regulation 5.11(a)(2) requires
Commission to consider information RFEDs to submit certain financial
Agency Information Collection that you believe is exempt from documentation to the Commission
Activities Under OMB Review disclosure under the Freedom of within 105 calendar days of the end of
AGENCY: Commodity Futures Trading Information Act, a petition for each fiscal year. RFEDs must also
Commission. confidential treatment of the exempt submit additional information, if
ethrower on DSK3G9T082PROD with NOTICES
ACTION: Notice. information may be submitted according requested, regarding affiliates’ financial
to the procedures established in § 145.9 impact on an RFED’s organizational
SUMMARY: In compliance with the of the Commission’s regulations. The structure.
Paperwork Reduction Act of 1995 Commission reserves the right, but shall • Regulation 5.12(a) requires RFED
(‘‘PRA’’), this notice announces that the have no obligation, to review, pre- applicants to submit a Form 1–FR–FCM
Information Collection Request (‘‘ICR’’) screen, filter, redact, refuse or remove concurrently with their registration
abstracted below has been forwarded to any or all of your submission from application.
VerDate Sep<11>2014 19:51 Nov 27, 2017 Jkt 244001 PO 00000 Frm 00014 Fmt 4703 Sfmt 4703 E:\FR\FM\28NON1.SGM 28NON1](https://thefederalregister.org/doc/82_FR_56448/page/1.svg)
![56222 Federal Register / Vol. 82, No. 227 / Tuesday, November 28, 2017 / Notices
• Regulation 5.12(b) requires The rules establish reporting and Paperwork Reduction Act (‘‘PRA’’),
registered RFEDs to file a Form 1–FR– recordkeeping requirements that are Federal agencies are required to publish
FCM on a monthly and annual basis. necessary to implement the provisions notice in the Federal Register
• Regulation 5.12(g) states that, in the of the Food, Conservation, and Energy concerning each proposed collection of
event that an RFED cannot file its Form Act of 2008 1 regarding off-exchange information, including each proposed
1–FR–FCM for any period within the transactions in foreign currency with extension of an existing collection of
time specified in Regulation 5.12(b), the members of the public. The rules are information, and to allow 60 days for
RFED may file an application for an intended to promote customer public comment. In August 2011, the
extension of time with its self-regulatory protection by providing safeguards Commission adopted a final rule, as
organization. against irresponsible or fraudulent required by Wall Street Reform and
• Regulation 5.13(a) requires RFEDs business practices.2 Consumer Protection Act (‘‘Dodd-Frank
and FCMs to provide monthly account An agency may not conduct or Act’’), requiring the submission of
statements to their customers. sponsor, and a person is not required to whistleblower information to the
• Regulation 5.13(b) requires RFEDs respond to, a collection of information Commission on the Forms TCR and
and FCMs to provide confirmation unless it displays a currently valid OMB WB–APP. This notice solicits comments
statements to their customers within control number. On September 18, 2017, on the proposed Information Collection
one business day after the execution of the Commission published in the Request (‘‘ICR’’) titled: Renewal for
any retail forex or forex option Federal Register notice of the proposed Whistleblower Provision; OMB Control
transaction. extension of this information collection Number 3038–0082.
• Regulation 5.14 requires RFEDs and and provided 60 days for public DATES: Comments must be submitted on
FCMs to maintain current ledgers of comment on the proposed extension, 82 or before January 29, 2018.
each transaction affecting its asset, FR 43527. The Commission received no
liability, income, expense and capital ADDRESSES: You may submit comments,
relevant comments. identified by OMB Control No. 3038–
accounts. Burden Statement: The Commission
• Regulation 5.18(g) requires each is revising its estimate of the burden for
0082 by any of the following methods:
RFED, FCM, CPO, CTA, and IB subject • The Agency’s Web site, via its
this collection to reflect the current Comments Online process: http://
to Part 5 to maintain a record of all number of affected registrants and
communications received that give rise comments.cftc.gov. Follow the
revised burden estimates. Accordingly, instructions for submitting comments
to possible violations of the Act, rules, the respondent burden for this
regulations or orders thereunder related through the Web site.
collection is estimated to be as follows: • Mail: Secretary of the Commission,
to their retail forex business. • Number of Registrants: 169.
• Regulation 5.18(i) requires each • Estimated Average Burden Hours
Commodity Futures Trading
RFED and FCM to prepare and maintain Commission, Three Lafayette Centre,
per Registrant: 777. 1155 21st Street NW., Washington, DC
on a quarterly basis a calculation of non- • Estimated Aggregate Burden Hours:
discretionary retail forex customer 20581.
131,259. • Hand Delivery/Courier: Same as
accounts open for any period of time • Frequency of Recordkeeping: As
during the quarter that were profitable, Mail above.
applicable. • Federal eRulemaking Portal: http://
and the percentage of such accounts that
were not profitable. (Authority: 44 U.S.C. 3501 et seq.) www.regulations.gov/search/index.jsp.
• Regulation 5.18(j) requires the CCO Dated: November 22, 2017. Follow the instructions for submitting
of each RFED and FCM to certify Robert N. Sidman, comments.
annually that the firm has in place Deputy Secretary of the Commission. Please submit your comments using
processes to establish, maintain, review, only one method.
[FR Doc. 2017–25698 Filed 11–27–17; 8:45 am]
modify and test policies and procedures All comments must be submitted in
BILLING CODE 6351–01–P
reasonably designed to achieve English, or if not, accompanied by an
compliance with the Act, rules, English translation. Comments will be
regulations and orders thereunder. COMMODITY FUTURES TRADING posted as received to http://
• Regulation 5.19 requires each COMMISSION www.cftc.gov. You should submit only
RFED, FCM, CPO, CTA, and IB subject information that you wish to make
to Part 5 to submit to the Commission Agency Information Collection available publicly. If you wish the
copies of any dispositive or partially Activities: Notice of Intent To Renew Commission to consider information
dispositive decision for which a notice Collection 3038–0082, Whistleblower that you believe is exempt from
of appeal has been filed in any material Provision disclosure under the Freedom of
legal proceeding (1) to which the firm is Information Act, a petition for
a party to or to which its property or AGENCY: Commodity Futures Trading confidential treatment of the exempt
assets is subject with respect to retail Commission. information may be submitted according
forex transactions, or (2) instituted ACTION: Notice. to the procedures established in § 145.9
against any person who is a principal of of the Commission’s regulations.1
the firm arising from conduct in such SUMMARY: The Commodity Futures The Commission reserves the right,
person’s capacity as a principal of that Trading Commission (‘‘Commission’’ or but shall have no obligation, to review,
firm. ‘‘CFTC’’) is announcing an opportunity pre-screen, filter, redact, refuse or
• Regulation 5.20 requires RFEDs, for public comment on the extension of remove any or all of your submission
ethrower on DSK3G9T082PROD with NOTICES
FCMs and IBs to submit documentation a proposed collection of certain from http://www.cftc.gov that it may
requested pursuant to certain types of information by the agency. Under the deem to be inappropriate for
special calls by the Commission. publication, such as obscene language.
• Regulation 5.23 requires RFEDs,
1 Public Law 110–246, 122 Stat. 1651, 2189–220
(2008).
All submissions that have been redacted
FCMs and IBs to notify the Commission 2 See Regulation of Off-Exchange Retail Foreign or removed that contain comments on
regarding bulk transfers and bulk Exchange Transactions and Intermediaries, 75 FR
liquidations of customer accounts. 55410, 55416 (Sept. 10, 2010). 1 17 CFR 145.9.
VerDate Sep<11>2014 19:51 Nov 27, 2017 Jkt 244001 PO 00000 Frm 00015 Fmt 4703 Sfmt 4703 E:\FR\FM\28NON1.SGM 28NON1](https://thefederalregister.org/doc/82_FR_56448/page/2.svg)
Document Created: 2017-11-28 01:51:04
Document Modified: 2017-11-28 01:51:04
| 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 December 28, 2017. | |
| Contact | Lauren Bennett, Special Counsel, 202- 418-5290, email: [email protected], Division of Swap Dealer and Intermediary Oversight, Commodity Futures Trading Commission and refer to OMB Control No. 3038-0062. | |
| FR Citation | 82 FR 56221 |
2025 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR