2012-8131

Federal Register, Volume 77 Issue 66 (Thursday, April 5, 2012)[Federal Register Volume 77, Number 66 (Thursday, April 5, 2012)]

[Notices]

[Pages 20613-20614]

From the Federal Register Online via the Government Printing Office [www.gpo.gov]

[FR Doc No: 2012-8131]

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COMMODITY FUTURES TRADING COMMISSION

Agency Information Collection Activities; Proposed Collection,

Comment Request

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.

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SUMMARY: The Commodity Futures Trading Commission (``CFTC'' or

``Commission'') seeks public comment on the collection of certain

information by the Commission under section 745 of the Wall Street

Reform and Consumer Protection Act (``Dodd-Frank Act''). The Paperwork

Reduction Act (``PRA'') requires federal agencies to publish a notice

in the Federal Register concerning each proposed collection of

information and to allow 60 days for public comment. Section 745

requires the Commission to seek public comment for not less than 30

days with respect to certain industry filings. This notice solicits

comments on the provisions of the Commission's final rulemaking on

``Provisions Common to Registered Entities'' under which the Commission

would collect comments on the industry filings by publication of

documents related to the filings and a request for comments on the

Commission's public Web site.\1\

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\1\ 76 FR 44776, July 27, 2011.

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DATES: Comments must be submitted on or before May 7, 2012.

ADDRESSES: You may submit comments, identified by ``Part 40 Notice and

Comment Collection,'' by any of the following methods:

Agency Web site, via its Comments Online process: http://comments.cftc.gov. Follow the instructions for submitting comments

through the Web site.

Mail: Send to David A. Stawick, Secretary, Commodity

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

Hand delivery/Courier: Same as Mail above.

Federal eRulemaking Portal: http://www.regulations.gov/search/index.jsp. Follow the instructions for submitting comments.

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 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 set forth in

Sec. 145.9 of the Commission's regulations.\2\

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\2\ Commission regulations referred to herein are found at 17

CFR Ch. 1 (2010). Commission regulations are accessible on the

Commission's Web site, www.cftc.gov.

_____________________________________-

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 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

rulemaking 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 or a Copy Contact: Bella Rozenberg,

Assistant Deputy Director, Division of Market Oversight, Commodity

Futures Trading Commission, (202) 418-5119, brozenberg@cftc.gov or

Mathew T. Hargrow, Attorney, Office of the General Counsel, (202) 418-

5267, mhargrow@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 collect or sponsor. ``Collection of

information'' is defined in 44 U.S.C. 3502(3) as ``the obtaining,

causing to be obtained, soliciting * * * facts or opinions by or for

any agency, regardless of form or format [from] ten or more persons.''

An agency may not conduct or sponsor, and a person is not required to

respond to, a collection of information unless it displays a valid OMB

control number.

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 for

each proposed collection of information before submitting the

collection to OMB for approval. Under OMB regulations, which implement

provisions of the PRA, certain ``facts or opinions that are submitted

in response to a general solicitation of comments from the public,

published in the Federal Register or other publications,'' 5 CFR

[[Page 20614]]

1320.3(h)(4), or ``facts or opinions obtained or solicited at or in

connection with public hearings or meetings,'' 5 CFR 1320.3(h)(8), are

excluded from the OMB approval process.

The Federal Register notice with a 60-day comment period soliciting

comments on this collection of information was published on February

15, 2012 (77 FR 8817). In the Commission's final rulemaking on

provisions common to registered entities,\3\ the Commission seeks to

implement section 745 of the Dodd-Frank Act,\4\ which amends Section 5c

the Commodity Exchange Act (CEA) \5\ to enhance compliance by

registered entities. This section permits a registered entity to elect

to list for trading or accept for clearing any new contract or other

instrument, or elect to approve and implement any new rule or rule

amendment by providing to the Commission a written certification that

the new contract, instrument, rule, or rule amendment complies with the

CEA. Such rules or rule amendments become effective after ten (10)

business days, unless the Commission notifies the registered entity

that it is staying the certification because there exist novel or

complex issues that require additional time to analyze, an inadequate

explanation by the submitting registered entity, or a potential

inconsistency with the CEA. Pursuant to section 745 and the final

amendments to part 40 of the Commission's regulations,\6\ the

Commission will provide a not less than 30-day comment period when it

determines that the rule or rule amendment will be stayed. Pursuant to

the final rules, the Commission will provide notice of the stay and the

request for comment on its Web site, as well as specify the manner in

which the public may submit comments.\7\

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\3\ 75 FR 67282, Nov. 2, 2010.

\4\ Public Law 111-203, 124 Stat. 1376 (2010).

\5\ 7 U.S.C. 7a.

\6\ 75 FR 67282, 67296 (Nov. 2, 2010).

\7\ Id.

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The Commission initially estimated that approximately 45 entities

would be affected by the rule certification procedures.\8\ The initial

estimate determined that these 45 entities would each have

approximately 120 responses per year for a total of 5,400 responses.\9\

The Commission has amended these numbers in the final rule such that

the estimated number of respondents is increased to 70 entities, the

average annual responses by each respondent is decreased to 100. These

numbers are based upon comments received regarding the proposed rules

as well as changes made by the Commission to streamline the product

certification process for certain swap contracts. The Commission

anticipates that the mandatory responses to the new collection will

take approximate 2 hours per response.

The Commission cannot determine with precision how many of the

7,000 responses it expects to receive will be stayed and subject to the

notice and comment requirements of section 745 and the part 40

regulations. The Commission anticipates that only a small fraction of

these responses would be stayed and subject to a request for comment

via Web site notice, and that each of the stayed rules or rule

amendments typically will receive not more than 20 comments, a

conservative number based on Commission history with industry filings.

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\8\ Id. at 67290.

\9\ Id.

Issued by the Commission this 30th day of March 2012.

David Stawick,

Secretary of the Commission.

[FR Doc. 2012-8131 Filed 4-4-12; 8:45 am]

BILLING CODE P

Last Updated: April 5, 2012