Font Size: AAA // Print // Bookmark

2017-04538

  • Federal Register, Volume 82 Issue 44 (Wednesday, March 8, 2017)

    [Federal Register Volume 82, Number 44 (Wednesday, March 8, 2017)]

    [Notices]

    [Pages 12944-12946]

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

    [FR Doc No: 2017-04538]

    =======================================================================

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

    COMMODITY FUTURES TRADING COMMISSION

    Agency Information Collection Activities: Notice of Intent To

    Renew Collection 3038-0103, Ownership and Control Reports, Forms 102/

    102S, 40/40S, and 71 (Trader and Account Identification Reports)

    AGENCY: Commodity Futures Trading Commission.

    ACTION: Notice.

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

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

    ``Commission'') is announcing an opportunity for public comment on the

    proposed renewal of the collection of certain information by the

    agency. Under the Paperwork Reduction Act (``PRA''), Federal agencies

    are required to publish notice in the Federal Register concerning each

    proposed collection of information and to allow 60 days for public

    comment. This notice solicits comments in connection with information

    collection requirements under certain rules and related forms (the

    ``final rules'') that the Commission adopted to enhance its

    identification of futures and swap market participants.

    DATES: Comments must be submitted on or before May 8, 2017.

    ADDRESSES: You may submit comments, identified by OMB Control No. 3038-

    0103, by any of the following methods:

    The Agency's Web site, at http://comments.cftc.gov/.

    Follow the instructions for submitting comments through the Web site.

    Mail: Christopher Kirkpatrick, Secretary of the

    Commission, Commodity Futures Trading Commission, Three Lafayette

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

    Hand Delivery/Courier: Same as Mail above.

    Federal eRulemaking Portal: http://www.regulations.gov/.

    Follow the instructions for submitting comments through the Portal.

    Please submit your comments using only one method.

    FOR FURTHER INFORMATION CONTACT: Joseph Otchin, Special Counsel,

    Division of Market Oversight, at 202-418-5623 or jotchin@cftc.gov, and

    refer to OMB Control No 3038-0103.

    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 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 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.

    Title: Ownership and Control Reports, Forms 102/102S, 40/40S, and

    71 (Trader and Account Identification Reports) (OMB Control No. 3038-

    0103). This is a request for extension of a currently approved

    information collection.

    Abstract: The final rules \1\ created new information collection

    requirements via Sec. Sec. 17.01, 18.04, 18.05, and 20.5.

    Specifically, Sec. 17.01 provides for the filing of Form 102A, Form

    102B and Form 71, as follows:

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

    \1\ See Commission, Final Rule: Ownership and Control Reports,

    Forms 102/102S, 40/40S, and 71, 78 FR 69178 (November 18, 2013).

    Terms used herein and not otherwise defined herein shall have the

    meaning assigned to such terms in the final rules or in the

    Commission's regulations.

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

    Pursuant to Sec. 17.01(a), futures commission merchants

    (``FCMs''), clearing members, and foreign brokers shall identify new

    special accounts to the Commission on Form 102A;

    pursuant to Sec. 17.01(b), clearing members shall

    identify volume threshold accounts to the Commission on Form 102B; and

    pursuant to Sec. 17.01(c), omnibus volume threshold

    account originators and omnibus reportable sub-account originators

    shall identify reportable sub-accounts to the Commission on Form 71

    when requested via a special call by the Commission or its designee.

    Additional reporting requirements arise from Sec. 18.04, which

    results in the collection of information via Form 40 from and regarding

    traders who own, hold, or control reportable positions; volume

    threshold account controllers; persons who own volume threshold

    accounts; reportable sub-account controllers; and persons who own

    reportable sub-accounts.

    Reporting requirements also arise from Sec. 20.5(a), which

    requires all reporting entities to submit Form 102S for swap

    counterparty or customer consolidated accounts with reportable

    positions. In addition, Sec. 20.5(b) requires every person subject to

    books or records under current Sec. 20.6 to complete a 40S filing

    after a special call upon such person by the Commission.

    In addition to the reporting requirements summarized above, Sec.

    18.05 imposes recordkeeping requirements upon: (1) Traders who own,

    hold, or control a reportable futures or options on futures position;

    (2) volume threshold account controllers; (3) persons who own volume

    threshold accounts; (4) reportable sub-account controllers; and (5)

    persons who own reportable sub-accounts.

    With respect to the 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;

    [[Page 12945]]

    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.

    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 you believe 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

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

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

    \2\ 17 CFR 145.9.

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

    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 http://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 Information Collection Request 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.

    Burden Statement: The Commission estimates the burden of this

    collection of information as follows:

    Form 102A

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

    Number of Annualized

    reporting burden per Total annual Estimated wage Annual industry

    Type of respondent parties per reporting party industry burden rate costs

    year (hours) (hours)

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

    FCMs, clearing members, and foreign brokers........................ 260 106 27,560 $70.07 $1,931,129

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

    Form 102B

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

    Number of Annualized

    reporting burden per Total annual Estimated wage Annual industry

    Type of respondent parties per reporting party industry burden rate costs

    year (hours) (hours)

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

    Clearing members................................................... 175 106 18,550 $70.07 $1,299,799

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

    Form 71

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

    Number of Annual burden Total annual

    Type of respondent responses per per response industry burden Estimated wage Annual industry

    year (hours) (hours) rate costs

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

    Originators of omnibus volume threshold accounts or omnibus 762 8 6,096 $70.07 $427,147

    reportable sub-accounts...........................................

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

    Form 40

    [Arising from Form 102A]

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

    Annualized

    Number of burden per Total annual Estimated wage Annual industry

    Type of respondent responses per response industry burden rate costs

    year (hours) (hours)

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

    Special account owners and controllers............................. 5,250 3 15,750 $70.07 $1,103,603

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

    Form 40

    [Arising from Form 102B and Form 71]

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

    Annualized

    Number of burden per Total annual Estimated wage Annual industry

    Type of respondent responses per response industry burden rate costs

    year (hours) (hours)

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

    Volume threshold account controllers and owners, reportable sub- 18,920 3 56,760 $70.07 $3,977,173

    account controllers and owners....................................

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

    [[Page 12946]]

    Form 102S

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

    Number of Annualized

    reporting burden per Total annual Estimated wage Annual industry

    Type of respondent parties per reporting party industry burden rate costs

    year (hours) (hours)

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

    Clearing members and swap dealers.................................. 39 106 4,134 $70.07 $289,669

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

    Form 40S

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

    Annualized

    Number of burden per Total annual Estimated wage Annual industry

    Type of respondent responses per response industry burden rate costs

    year (hours) (hours)

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

    Persons subject to books and records requirements under Sec. 20.6 2,508 3 7,524 $70.07 $527,207

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

    Sec. 18.05--Recordkeeping Burden

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

    Number of Annual burden Total annual

    Type of respondent responses per per response industry burden Estimated wage Annual industry

    year (hours) (hours) rate costs

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

    Volume threshold account controllers and owners, reportable sub- 53 5 265 $70.07 $18,569

    account controllers and owners, and traders who own, hold, or

    control reportable futures or option positions....................

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

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

    Dated: March 3, 2017.

    Robert N. Sidman,

    Deputy Secretary of the Commission.

    [FR Doc. 2017-04538 Filed 3-7-17; 8:45 am]

    BILLING CODE 6351-01-P

    Last Updated: March 8, 2017