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e8-23220

  • FR Doc E8-23220[Federal Register: October 2, 2008 (Volume 73, Number 192)]

    [Notices]

    [Page 57338-57339]

    From the Federal Register Online via GPO Access [wais.access.gpo.gov]

    [DOCID:fr02oc08-40]

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    COMMODITY FUTURES TRADING COMMISSION

    Agency Information Collection Activities: Notification of Pending

    Legal Proceedings Pursuant to Regulation

    AGENCY: Commodity Futures trading commission.

    ACTION: Renewal of an existing collection--3038-0033.

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    SUMMARY: The Commodity Futures Trading Commission (CFTC) is announcing

    an opportunity for public comment on the proposed collection of certain

    information by the agency. Under the Paperwork Reduction Act of 1995

    (PRA), 44 U.S.C. 3501 et seq., Federal agencies are required to publish

    notice in the Federal Register concerning each proposed collection of

    information, including each proposed extension of an existing

    collection of information, and to allow 60 days for public comment in

    response to the notice. This notice solicits comments on the rule

    requiring notification of pending legal proceedings pursuant to 17 CFR

    1.60.

    DATES: Comments must be submitted on or before December 1, 2008.

    ADDRESSES: Comments may be mailed to Lynn A. Bulan, Office of the

    General Counsel, U.S. Commodity Futures Trading Commission, 1155 21st

    Street, NW., Washington, DC 20581.

    FOR FURTHER INFORMATION CONTACT: Lynn A. Bulan, (202) 418-5143; FAX:

    (202) 418-5567; e-mail: lbulan@cftc.gov.

    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(c) 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, including each

    proposed extension of an existing 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.

    With respect to the following 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;

    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.

    Notification of Pending Legal Proceedings Pursuant to 17 CFR 1.60, OMB

    Control Number 3038-0033--Extension

    The rule is designed to assist the Commission in monitoring legal

    proceedings involving the responsibilities imposed on contract markets

    and their officials and futures commission merchants and their

    principals by the Commodity Exchange Act, or otherwise.

    [[Page 57339]]

    The Commission's rules require futures commission merchants and

    introducing brokers: (1) To provide their customers with standard risk

    disclosure statements concerning the risk of trading commodity

    interests; and (2) to retain all promotional material and the source of

    authority for information contained therein. The purpose of these rules

    is to ensure that customers are advised of the risks of trading

    commodity interests and to avoid fraud and misrepresentation. In

    addition, the Commission's rules impose obligations on contract markets

    that are designed to avoid manipulation and fraud. In order to ensure

    compliance with these rules, the Commission requires the information

    whose collection and dissemination is required under 17 CFR 1.60.

    The Commission estimates the burden of this collection of

    information as follows:

    Estimated Annual Reporting Burden

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

    Annual number Total annual Hours per

    17 CFR section of respondents responses response Total hours

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

    1.60.................................... 235 1 .10 .10

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    There are no capital costs or operating and maintenance costs

    associated with this collection.

    Dated: September 26, 2008.

    David Stawick,

    Secretary of the Commission.

    [FR Doc. E8-23220 Filed 10-1-08; 8:45 am]

    BILLING CODE 6351-01-P

    Last Updated: October 2, 2008



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