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07-3698

  • [Federal Register: July 30, 2007 (Volume 72, Number 145)]

    [Notices]

    [Page 41499-41500]

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

    [DOCID:fr30jy07-31]

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    COMMODITY FUTURES TRADING COMMISSION

    Agency Information Collection Activities Under OMB Review: Notice

    of Intent To Renew Collection 3038-0055, Privacy of Consumer Financial

    Information

    AGENCY: Commodity Futures Trading Commission.

    ACTION: Notice.

    -----------------------------------------------------------------------

    SUMMARY: In compliance with the Paperwork Reduction Act (44 U.S.C. 3501

    et seq.), 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; it

    includes the actual data collection instruments [if any].

    DATES: Comments must be submitted on or before August 29, 2007.

    For Further Information Or a Copy Contact: Lawrence B. Patent, Deputy

    Director, Division of Clearing and Intermediary Oversight, U.S.

    Commodity Futures Trading Commission, 1155 21st Street, NW.,

    Washington, DC 20581, (202) 418-5439; FAX: (202) 418-5536; e-mail:

    lpatent@cftc.gov and refer to OMB Control No. 3038-0055.

    SUPPLEMENTARY INFORMATION:

    Title: Privacy of Consumer Financial Information, OMB Control No.

    3038-0055. This is a request for extension of a currently approved

    information collection.

    Abstract: Section 124 of the Commodity Futures Modernization Act of

    2000 ("CFMA") amended the Commodity Exchange Act (the "Act") and

    added a new Section 5g to the Act to make the Commission a Federal

    functional regulatory for purposes of applying the provisions of Title

    V, Subtitle A of the Gramm-Leach-Bliley Act ("GLB Act") addressing

    consumer privacy to any futures commission merchant, commodity trading

    advisor, commodity pool operator or introducing broker that is subject

    to the Commission's jurisdiction with respect to any financial

    activity. In general, Title V requires financial institutions to

    provide notice to consumers about the institution's privacy policies

    and practices, to restrict the ability of a financial institution to

    share nonpublic personal information about consumers to nonaffiliated

    third parties, and to permit consumers to prevent the institution from

    disclosing nonpublic personal information about them to certain non-

    affiliated third parties by "opting out" of that disclosure. These

    regulations implement the mandates of Section 124 and Title V of the

    GLB Act.

    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. The OMB control numbers for the

    CFTC's regulations were published on December 30, 1981. See 46 FR 63035

    (Dec. 30, 1981). The Federal Register notice with a 60-day comment

    period soliciting comments on this collection of information was

    published on May 22, 2007 (72 FR 28686).

    Burden statement: The respondent burden for this collection is

    estimated to average .27 hours per response. These estimates include

    the time needed to review instructions; develop, acquire, install, and

    utilize technology and systems for the purposes of collecting,

    validating, and verifying information, processing and maintaining

    information and disclosing and providing information; adjust the

    existing ways to comply with any previously applicable instructions and

    requirements; train personnel to be able to respond to a collection of

    information; and transmit or otherwise disclose the information.

    Respondents/Affected Entities: 4,500.

    Estimated number of responses: 342,000.

    Estimated total annual burden on respondents: 93,420 hours.

    Frequency of collection: On Occasion.

    Send comments regarding the burden estimated or any other aspect of

    the information collection, including suggestions for reducing the

    burden, to the addresses listed below. Please refer to OMB Control No.

    3038-0055 in any correspondence.

    Lawrence B. Patent, Deputy Director, Division of Clearing and

    Intermediary Oversight, U.S. Commodity Futures Trading Commission, 1155

    21st Street, NW., Washington, DC 20581, and Office of Information and

    Regulatory Affairs, Office of Management and Budget, Attention: Desk

    Officer for CFTC, 725 17th Street, Washington, DC 20503.

    [[Page 41500]]

    Dated: July 24, 2007.

    Eileen Donovan,

    Acting Secretary of the Commission.

    [FR Doc. 07-3698 Filed 7-27-07; 8:45 am]

    BILLING CODE 6351-01-M

    Last Updated: July 31, 2007



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