2016-01760

Federal Register, Volume 81 Issue 20 (Monday, February 1, 2016)

[Federal Register Volume 81, Number 20 (Monday, February 1, 2016)]

[Notices]

[Page 5106]

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

[FR Doc No: 2016-01760]

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COMMODITY FUTURES TRADING COMMISSION

Agency Information Collection Activities Under OMB Review

Agency: Commodity Futures Trading Commission.

Action: Notice.

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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 March 2, 2016.

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 in OMB, within 30 days of publication of the notice,

by email at [email protected]. Please identify the comments

by OMB Control No. 3038-0089. Please provide the Commission with a copy

of all submitted comments at the address listed below. Please refer to

OMB Reference No. 3038-0089, 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 the Commission through its Web site at http://comments.cftc.gov. Follow the instructions for submitting comments

through the Web site.

Comments may also be mailed to: Christopher Kirkpatrick, Secretary

of the Commission, Commodity Futures Trading Commission, Three

Lafayette Centre, 1155 21st Street NW., Washington, DC 20581, or by

Hand Delivery/Courier at the same address.

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: Tom Guerin, Division of Market

Oversight, Commodity Futures Trading Commission, (202) 734-4194, email:

[email protected], and refer to OMB Control No. 3038-0089.

SUPPLEMENTARY INFORMATION: 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 Federal

Register notice with a 60-day comment period soliciting comments on

this collection of information was published on November 12, 2015 (80

FR 69948).

Title: Swap Data Recordkeeping and Reporting Requirements: Pre-

Enactment and Transition Swaps (OMB Control No. 3038-0089). This is a

request for extension of a currently approved information collection.

Abstract: Section 723 of the Dodd-Frank Wall Street Reform and

Consumer Protection Act (``Dodd-Frank Act'') directed the Commission to

adopt rules providing for the reporting of data pertaining to swaps

entered into before the date of enactment of the Dodd-Frank Act (``pre-

enactment swaps'') and swaps entered into on or after the date of

enactment of the Dodd-Frank Act but prior to the compliance date

specified in the CFTC's final swap data reporting rules (``transition

swaps''). On May 17, 2012, the CFTC adopted regulation 46, which

imposes recordkeeping and reporting requirements relating to pre-

enactment and transition swaps. This ICR concerns the collections of

information required by 17 CFR part 46.

Commission staff estimate that approximately 30,125 entities,

including swap dealers, major swap participants, and swap

counterparties that are neither swap dealers nor major swap

participants, are affected by this ICR. The Commission did not receive

any comments regarding the burden estimate or any other aspect of this

ICR.

Burden Statement: Commission staff estimate that the total annual

time burden for this ICR is 18,903 hours. Commission staff estimate

that the total annual cost for this ICR is $1,436,258. The time burden

estimate represents the annual burden that swap dealers, major swap

participants, and swap counterparties that are neither swap dealers nor

major swap participants incur to operate and maintain swap

recordkeeping and reporting systems to facilitate the recordkeeping and

reporting of pre-enactment and transition swaps. Commission staff

calculated the time burden by estimating the burden incurred by

respondents to operate and maintain swap data recordkeeping and

reporting systems and then estimating the portion of that burden

associated with pre-enactment and transition swaps. Commission staff

calculated the cost burden by multiplying the estimated time burden by

an estimated appropriate hourly wage rate of $75.98. Commission staff

derived the estimated appropriate hourly wage rate by averaging the

salaries and bonuses of relevant professions reported in the SIFMA

Report on Management & Professional Earnings in the Securities Industry

2013.

Respondents/Affected Entities: Swap dealers, Major Swap

Participants, and other counterparties to a swap transaction (i.e.,

end-user, non-swap dealer/non-major swap participant counterparties).

Estimated Number of Respondents: 30,125.

Estimated Total Annual Burden on Respondents: 18,903 hours.

Estimated Total Annual Cost: $1,436,258.

Frequency of Collection: Ongoing.

(Authority: 44 U.S.C. 3501 et seq.)

Dated: January 27, 2016.

Robert N. Sidman,

Deputy Secretary of the Commission.

[FR Doc. 2016-01760 Filed 1-29-16; 8:45 am]

BILLING CODE 6351-01-P

 

Last Updated: February 1, 2016