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2018-02300

  • Federal Register, Volume 83 Issue 25 (Tuesday, February 6, 2018)

    [Federal Register Volume 83, Number 25 (Tuesday, February 6, 2018)]

    [Notices]

    [Pages 5250-5251]

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

    [FR Doc No: 2018-02300]

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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 8, 2018.

    ADDRESSES: Comments regarding the burden estimate 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 this notice's

    publication by either of the following methods. Please identify the

    comments by ``OMB Control No. 3038-0026.''

    By email addressed to: OIRAsubmissions@omb.eop.gov or

    By mail addressed 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.

    A copy of all comments submitted to OIRA should be sent to the

    Commodity Futures Trading Commission (the ``Commission'') by either of

    the following methods. The copies should refer to ``OMB Control No.

    3038-0026.''

    By mail addressed to: Christopher Kirkpatrick, Secretary

    of the Commission, Commodity Futures Trading Commission, Three

    Lafayette Centre, 1155 21st Street NW, Washington, DC 20581;

    By Hand Delivery/Courier to the same address; or

    Through the Commission's website at http://comments.cftc.gov. Please follow the instructions for submitting

    comments through the website.

    A copy of the supporting statement for the collection of information

    discussed herein 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. 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.\1\ 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 ICR 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 .

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    \1\ 17 CFR 145.9.

    FOR FURTHER INFORMATION CONTACT: Mark Bretscher, Division of Swap

    Dealers and Intermediary Oversight, Commodity Futures Trading

    Commission, 525 W Monroe, Suite 1100, Chicago, IL 60661, (312) 596-

    0529; email: mbretscher@cftc.gov and refer to OMB Control No. 3038-

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    0026.

    SUPPLEMENTARY INFORMATION:

    Title: Gross Collection of Exchange-Set Margins for Omnibus

    Accounts (OMB Control No. 3038-0026). This is a request for extension

    of a currently approved information collection.

    Abstract: Commission Regulation 1.58 requires futures commission

    merchants to collect exchange-set margin for omnibus accounts on a

    gross, rather than a net, basis. The regulation provides that the

    carrying future commission merchant (FCM) need not collect margin for

    positions traded by a person through an omnibus account in excess of

    the amount that would be required if the same person, instead of

    trading through an omnibus account, maintained its own account with the

    carrying FCM. To prevent abuse of this

    [[Page 5251]]

    exception to the regulation, a carrying FCM must maintain a written

    representation from the originating FCM or foreign broker that the

    particular positions held in the omnibus account are part of a hedge or

    spread transaction. This collection of information is necessary in

    order to provide documentation that can be inspected with regard to

    questions of proper compliance with gross margining requirements. This

    rule is promulgated pursuant to the Commission's rulemaking authority

    contained in Sections 4c, 4d, 4f, 4g and 8a of the Commodity Exchange

    Act, 7 U.S.C. 6c, 6d, 6f, 6g and 12a.

    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 22, 2017 (82 FR 55591).

    Burden statement: The Commission is revising its estimate of the

    burden due

    to the reduced number of futures commission merchants in the

    industry. The respondent burden for this collection is estimated to be

    as follows:

    Respondents/Affected Entities: 57.

    Reports annually by each respondent: 4.

    Estimated number of responses: 228.

    Estimated average number of hours per response: 0.08.

    Estimated total annual burden on respondents: 18 hours.

    Frequency of collection: On occasion.

    There are no capital costs or operating and maintenance costs

    associated with this collection.

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

    Dated: February 1, 2018.

    Robert N. Sidman,

    Deputy Secretary of the Commission.

    [FR Doc. 2018-02300 Filed 2-5-18; 8:45 am]

    BILLING CODE 6351-01-P

    Last Updated: February 6, 2018