[Federal Register: July 30, 2007 (Volume 72, Number 145)]


[Page 41498-41499]

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




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.


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.


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]


Last Updated: July 31, 2007