Font Size: AAA // Print // Bookmark


  • FR Doc E8-26834[Federal Register: November 12, 2008 (Volume 73, Number 219)]


    [Page 66845-66847]

    From the Federal Register Online via GPO Access []





    Agency Information Collection Activities: Rules Relating to

    Regulation of Domestic Exchange-Traded Options

    AGENCY: Commodity Futures Trading Commission.

    [[Page 66846]]

    ACTION: Extension of an Existing Collection.


    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 rules related

    to risk disclosure concerning exchange-traded commodity options.

    DATES: Comments must be submitted on or before January 12, 2009.

    ADDRESSES: Comments may be mailed to William Penner, Division of

    Clearing and Intermediary Oversight, U.S. Commodity Futures Trading

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

    FOR FURTHER INFORMATION CONTACT: William Penner, (202) 418-5407; Fax:

    (202) 418-5536; e-mail:

    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


    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.

    Rules Relating to Regulation of Domestic Exchange-Traded Options, OMB

    Control Number 3038-0007--Extension

    The 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. This information collection

    contains the recordkeeping and reporting requirements needed to ensure

    regulatory compliance with Commission rules relating to this issue.

    The Commission estimates the burden of this collection of

    information as follows:

    Estimated Annual Reporting Burden


    Estimated Estimated

    number of Reports Estimated total number

    Regulation respondents or annually by Total annual average number of hours of

    recordkeepers each responses of hours per annual burden

    per year respondent response in fiscal year



    38.3, 38.4, 40.2 and 40.3 13.00 2.00 26.00 25.00 650.00

    (Procedure for designation

    or self-certification).....

    33.7--(Risk disclosure)..... 175.00 115.00 20,125.00 0.08 1,610.00

    Subtotal (reporting 188.00 .............. 20,151.00 .............. 2,260.00



    33.8--(Retention of 225.00 1.00 225.00 25.00 5,625.00

    promotional material)......

    Subtotal (recordkeeping .............. .............. .............. .............. ..............


    Grand total 413.00 .............. 20,376.00 .............. 7,785.00

    (reporting and



    [[Page 66847]]

    There are no capital costs or operating and maintenance costs

    associated with this collection.

    Dated: November 5, 2008.

    David A. Stawick,

    Secretary of the Commission.

    [FR Doc. E8-26834 Filed 11-10-08; 8:45 am]

    BILLING CODE 6351-01-P

    Last Updated: November 12, 2008