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]
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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.
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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 [email protected], 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:
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\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.
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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\
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\2\ 17 CFR 145.9.
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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
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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)
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FCMs, clearing members, and foreign brokers........................ 260 106 27,560 $70.07 $1,931,129
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Form 102B
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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)
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Clearing members................................................... 175 106 18,550 $70.07 $1,299,799
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Form 71
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Number of Annual burden Total annual
Type of respondent responses per per response industry burden Estimated wage Annual industry
year (hours) (hours) rate costs
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Originators of omnibus volume threshold accounts or omnibus 762 8 6,096 $70.07 $427,147
reportable sub-accounts...........................................
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Form 40
[Arising from Form 102A]
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Annualized
Number of burden per Total annual Estimated wage Annual industry
Type of respondent responses per response industry burden rate costs
year (hours) (hours)
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Special account owners and controllers............................. 5,250 3 15,750 $70.07 $1,103,603
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Form 40
[Arising from Form 102B and Form 71]
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Annualized
Number of burden per Total annual Estimated wage Annual industry
Type of respondent responses per response industry burden rate costs
year (hours) (hours)
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Volume threshold account controllers and owners, reportable sub- 18,920 3 56,760 $70.07 $3,977,173
account controllers and owners....................................
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Form 102S
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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)
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Clearing members and swap dealers.................................. 39 106 4,134 $70.07 $289,669
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Form 40S
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Annualized
Number of burden per Total annual Estimated wage Annual industry
Type of respondent responses per response industry burden rate costs
year (hours) (hours)
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Persons subject to books and records requirements under Sec. 20.6 2,508 3 7,524 $70.07 $527,207
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Sec. 18.05--Recordkeeping Burden
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Number of Annual burden Total annual
Type of respondent responses per per response industry burden Estimated wage Annual industry
year (hours) (hours) rate costs
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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....................
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(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