[Federal Register: July 30, 2007 (Volume 72, Number 145)]
[Notices]
[Page 41498-41499]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr30jy07-30]
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COMMODITY FUTURES TRADING COMMISSION
Agency Information Collection Activities Under OMB Review: Notice
of Intent To Renew Collection 3038-0054, Establishing Procedures for
Entities Operating as Exempt Markets
AGENCY: Commodity Futures Trading Commission.
ACTION: Notice.
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SUMMARY: In compliance with the Paperwork Reduction Act (44 U.S.C. 3501
et seq.), 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 the expected costs and burden; it
includes the actual data collection instruments [if any].
DATES: Comments must be submitted on or before August 29, 2007.
FOR FURTHER INFORMATION CONTACT: Riva Spear Adriance, Division of
Market Oversight, U.S. Commodity Futures Trading Commission, 1155 21st
Street, NW., Washington, DC 20581, (202) 418-5494; FAX: (202) 418-5527;
e-mail: [email protected] and refer to OMB Control No. 3038-0054.
SUPPLEMENTARY INFORMATION:
Title: Establishing Procedures for Entities Operating as Exempt
Markets, OMB Control No. 3038-0054. This is a request for extension of
a currently approved information collection.
Abstract: Sections 2(h)(3) through (5) of the Commodity Exchange
Act (Act) provides that exempt commercial markets are markets excluded
from the Act's other requirements. The rules implement the qualifying
conditions of the exemption. Rule 36.3(a) implements the notification
requirements, and rule 36.3(b)(1) establishes information requirements
for exempt commercial markets consistent with section 2(h)(5)(B) of the
Act. An exempt commercial market may provide the Commission with access
to transactions conducted on the facility or it can satisfy its
reporting requirements by complying with the Commission's reporting
requirements. The Act affirmatively vests the Commission with
comprehensive anti-manipulation enforcement authority over these
trading facilities. The Commission is
[[Page 41499]]
charged with monitoring these markets for manipulation and enforcing
the anti-manipulation provisions of the Act. The informational
requirements imposed by proposed rules are designed to ensure that the
Commission can effectively perform these functions. Section 5d of the
Act establishes a category of market exempt from Commission oversight
referred to as an "exempt board of trade." Rule 36.2 implements
regulations that define those commodities that are eligible to trade on
an exempt board of trade. Rule 36.2(b) implements the notification
requirements of section 5d of the Act. Rule 36.2(b)(1) requires exempt
boards of trade relying on this exemption to disclose to traders that
the facility and trading on the facility is not regulated by the
Commission. This requirement is necessary to make manifest the nature
of the market and to avoid misleading the public.
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 OMB control numbers for the
CFTC's regulations were published on December 30, 1981. See 46 FR 63035
(Dec. 30, 1981). The Federal Register notice with a 60-day comment
period soliciting comments on this collection of information was
published on May 22, 2007 (72 FR 28686).
Burden statement: The respondent burden for this collection is
estimated to average 20 hours per response. These estimates include the
time needed to review instructions; develop, acquire, install, and
utilize technology and systems for the purposes of collecting,
validating, and verifying information, processing and maintaining
information and disclosing and providing information; adjust the
existing ways to comply with any previously applicable instructions and
requirements; train personnel to be able to respond to a collection of
information; and transmit or otherwise disclose the information.
Respondents/Affected Entities: 20.
Estimated number of responses: 20.
Estimated total annual burden on respondents: 200 hours.
Frequency of collection: On Occasion.
Send comments regarding the burden estimated or any other aspect of
the information collection, including suggestions for reducing the
burden, to the addresses listed below. Please refer to OMB Control No.
3038-0054 in any correspondence. Riva Spear Adriance, Division of
Market Oversight, U.S. Commodity Futures Trading Commission, 1155 21st
Street, NW., Washington, DC 20581, and Office of Information and
Regulatory Affairs, Office of Management and Budget, Attention: Desk
Officer for CFTC, 725 17th Street, Washington, DC 20503.
Dated: July 24, 2007.
Eileen A. Donovan,
Acting Secretary of the Commission.
[FR Doc. 07-3697 Filed 7-27-07; 8:45 am]
BILLING CODE 6351-01-M
Last Updated: July 31, 2007