[Federal Register: October 5, 2001 (Volume 66, Number 194)]
[Notices]
[Page 51025-51026]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr05oc01-79]

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COMMODITY FUTURES TRADING COMMISSION


Agency Information Collection Activities: Notice of Intent To
Renew Collection 3038-0026, Gross Margining of Omnibus Accounts

AGENCY: Commodity Futures Trading Commission.

ACTION:  Notice.

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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 Commission
Regulation 1.58 which

[[Page 51026]]

requires futures commission merchants to carry omnibus accounts on a
gross, rather than a net basis.

DATES: Comments must be submitted on or before December 4, 2001.

ADDRESSES: Comments may be mailed to Lawrence B. Patent, Division of
Trading and Markets, U.S. Commodity Futures Trading Commission, 1155
21st Street, NW., Washington, DC 20581.

FOR FURTHER INFORMATION CONTACT: Lawrence B. Patent, (202) 418-5439;
FAX: (202) 418-5545; email: lpatent@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. Gross Margining of Omnibus
Accounts, OMB control number 3038-0026--Extension.
    Commission Regulation 1.58 requires futures commission merchants to
carry omnibus accounts on a gross, rather than a net, basis. This rule
is promulgated pursuant to the Commission's rulemaking authority
contained in Sections 5 and 5a of the Commodity Exchange Act, 7 U.S.C.
7 and 7a (2000).
    The Commission estimates the burden of this collection of
information as follows:

                                                            Estimated Annual Reporting Burden
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                                                    Annual                                                            Total
                 17 CFR section                   number of                  Frequency of response                    annual     Hours per   Total hours
                                                 respondents                                                        responses     response
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1.58...........................................          225  On occasion........................................        3,900         0.08          300
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    Dated: October 2, 2001.
Jean A. Webb,
Secretary of the Commission.
[FR Doc. 01-25004 Filed 10-3-01; 8:45 am]
BILLING CODE 6351-01-M