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07-2566

  • Commodity Futures Trading Commission Agency Information Collection Activities: Notice of Intent to Renew Collection 3038-0049, Procedural Requirements for Requests for Interpretative, No-Action, and Exemptive Letters[Federal Register: May 23, 2007 (Volume 72, Number 99)]

    [Notices]

    [Page 28959-28960]

    From the Federal Register Online via GPO Access [wais.access.gpo.gov]

    [DOCID:fr23my07-50]

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    COMMODITY FUTURES TRADING COMMISSION

    Agency Information Collection Activities: Notice of Intent to

    Renew Collection 3038-0049, Procedural Requirements for Requests for

    Interpretative, No-Action, and Exemptive Letters

    AGENCY: Commodity Futures Trading Commission.

    ACTION: Notice.

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    SUMMARY: The Commodity Futures Trading Commission (CFTC) is announcing

    an opportunity for public comment on the proposed collection of certain

    information by the agency. Under the Paperwork Reduction Act of 1995

    (PRA), 44 U.S.C. 3501 et seq., 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 in

    response to the notice. This notice solicits comments on requirements

    relating to procedures for submitting requests for exemptive, no-

    action, and interpretative letters.

    DATES: Comments must be submitted on or before July 23, 2007.

    ADDRESSES: Comments may be mailed to Christopher W. Cummings, Division

    of Clearing and Intermediary Oversight, U.S. Commodity Futures Trading

    Commission, 1155 21st Street, NW., Washington, DC 20581.

    FOR FURTHER INFORMATION CONTACT: Christopher W. Cummings (202) 418-

    5445; Fax: (202) 418-5536; e-mail: ccummings@cftc.gov.

    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(c) 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, including each

    proposed extension of an existing 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.

    With respect to the following 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

    Commission, including whether the information will have a practical

    use;

    The accuracy of the Commission'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.

    Procedural Requirements for Requests for Interpretative, No-Action, and

    Exemptive Letters, OMB Control Number 3038-0049--Extension

    Commission Regulation 140.99 requires persons submitting requests

    for exemptive, no-action, and interpretative letters to provide

    specific written information, certified as to completeness and

    accuracy, and to update that information to reflect material changes.

    The regulation was promulgated pursuant to the Commission's rulemaking

    authority contained in section 8a(5) of the Commodity Exchange Act, 7

    U.S.C. 12a(5) (2000). Regulation 41.3 requires securities brokers and

    dealers submitting requests for exemptive orders to provide specified

    written information in support of such requests. Regulation 41.3 was

    promulgated in response to the requirement in the Commodity Futures

    Modernization Act of 2000 that the Commission establish procedures for

    requesting such orders.

    The Commission estimates the burden of this collection of

    information as follows:

    [[Page 28960]]

    Estimated Annual Reporting Burden

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    Annual

    17 CFR Section number of Frequency of response Total annual Hours per Total

    respondents responses response hours

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    17 CFR 140.99....................... 350 On occasion........... 455 7.0 3,185

    17 CFR 41.3......................... 60 On occasion........... 24 0.5 12

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    There are no capital costs or operating and maintenance costs

    associated with this collection.

    This estimate is based on the number of requests for such letters

    in the last three years. Although the burden varies with the type,

    size, and complexity of the request submitted, such request may involve

    analytical work and analysis, as well as the work of drafting the

    request itself.

    Dated: May 18, 2007.

    Eileen A. Donovan,

    Acting Secretary of the Commission

    [FR Doc. 07-2566 Filed 5-22-07; 8:45 am]

    BILLING CODE 6351-01-M

    Updated May 23, 2007

    Last Updated: June 29, 2007