2016-20288
Federal Register, Volume 81 Issue 164 (Wednesday, August 24, 2016)
[Federal Register Volume 81, Number 164 (Wednesday, August 24, 2016)]
[Notices]
[Pages 57890-57891]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-20288]
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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 September 23, 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 (OIRA) in OMB, within 30 days of the notice's
publication, by email at [email protected]. Please identify
the comments by OMB Control No. 3038-0099. Please provide the Commodity
Futures Trading Commission (``CFTC'' or ``Commission'') with a copy of
all submitted comments at the address listed below. Please refer to OMB
Reference No. 3038-0099, 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: Roger Smith, Special Counsel, Division of Market Oversight,
Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st
Street NW., Washington, DC 20581; or through the CFTC Web site at
http://comments.cftc.gov. Follow the instructions for submitting
comments through the Web site.
Comments may also be mailed to: Christopher J. Kirkpatrick,
Secretary of the Commission, Commodity Futures Trading Commission,
Three Lafayette Centre, 1155 21st Street NW., Washington, DC 20581 or
by Hand Deliver/Courier at the same address.
A copy of the supporting statements for the collection of
information discussed above may be obtained by visiting RegInfo.gov.
All comments must be submitted in English, or if not, accompanied by an
English translation. Comments will be posted as received to
www.cftc.gov.
FOR FURTHER INFORMATION CONTACT: Roger Smith, Special Counsel, Division
of Market Oversight, Commodity Futures Trading Commission, (202) 418-
5344; email: [email protected], and refer to OMB Control No. 3038-0099. A
copy may also be obtained from this contact.
SUPPLEMENTARY INFORMATION:
Title: Process for a Swap Execution Facility or Designated Contract
Market to Make a Swap Available to Trade (OMB Control No. 3038-0099).
This is a request for extension of a currently approved information
collection.
Abstract: The collection of information is needed to help determine
which swaps should be subject to the trade execution requirement under
Section 2(h)(8) of the Commodity Exchange Act pursuant to Section 723
of the Dodd-Frank Wall Street Reform and Consumer Protection Act. A
swap execution facility (``SEF'') or designated contract market
(``DCM'') that submits a determination that a swap is available to
trade must address at least one of several factors to demonstrate that
the swap is suitable for trading pursuant to the trade execution
requirement. The Commission uses the collection of information to
facilitate the application of the trade execution requirement and the
requirements associated with methods of execution under parts 37 and 38
of the Commission's regulations.
The Commission did not receive any relevant comments on the 60-day
Federal Register notice, 81 FR 38689, dated June 14, 2016.
Burden Statement: The Commission estimates the burden of reviewing
the prescribed factors and data to make a determination for this
collection to be 16 hours per response. The total cost
[[Page 57891]]
burden per rule submission filing is estimated to be $958.16. The
Commission based its calculation on (1) an hourly wage rate of $48.14
for a Compliance Specialist to perform the filing over 8 hours;\1\ an
hourly wage rate of $71.63 for one economist to analyze trading data in
the process over 8 hours.\2\
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\1\ See Report on Management & Professional Earnings in the
Securities Industry 2013, Securities Industry and Financial Markets
Association at 4 (Oct. 2013). The report lists the average total
annual compensation for a compliance specialist (intermediate) as
$66,649. The Commission estimated the personnel's hourly cost by
assuming an 1,800 hour work year and by multiplying by 1.3 to
account for overhead and other benefits.
\2\ See Bureau of Labor Statistics, U.S. Department of Labor,
Occupational Outlook Handbook, Economists, http://www.bls.gov/ooh/life-physical-and-social-science/economists.htm. The report lists
the median total annual compensation for an economist as $99,180.
The Commission estimated the economist personnel's hourly cost by
assuming an 1,800 hour work year and by multiplying by 1.3 to
account for overhead and other benefits.
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Respondents/Affected Entities: SEFs, DCMs.
Estimated Number of Respondents: 5.
Estimated Total Annual Burden on Respondents: 80 hours.
Frequency of Collection: Occasional.
Authority: 44 U.S.C. 3501 et seq.
Dated: August 19, 2016.
Christopher J. Kirkpatrick,
Secretary of the Commission.
[FR Doc. 2016-20288 Filed 8-23-16; 8:45 am]
BILLING CODE 6351-01-P
Last Updated: August 24, 2016