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


[Page 41499-41500]

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 3038-0055, Privacy of Consumer Financial


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 its 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 Or a Copy Contact: Lawrence B. Patent, Deputy

Director, Division of Clearing and Intermediary Oversight, U.S.

Commodity Futures Trading Commission, 1155 21st Street, NW.,

Washington, DC 20581, (202) 418-5439; FAX: (202) 418-5536; e-mail:

[email protected] and refer to OMB Control No. 3038-0055.


Title: Privacy of Consumer Financial Information, OMB Control No.

3038-0055. This is a request for extension of a currently approved

information collection.

Abstract: Section 124 of the Commodity Futures Modernization Act of

2000 ("CFMA") amended the Commodity Exchange Act (the "Act") and

added a new Section 5g to the Act to make the Commission a Federal

functional regulatory for purposes of applying the provisions of Title

V, Subtitle A of the Gramm-Leach-Bliley Act ("GLB Act") addressing

consumer privacy to any futures commission merchant, commodity trading

advisor, commodity pool operator or introducing broker that is subject

to the Commission's jurisdiction with respect to any financial

activity. In general, Title V requires financial institutions to

provide notice to consumers about the institution's privacy policies

and practices, to restrict the ability of a financial institution to

share nonpublic personal information about consumers to nonaffiliated

third parties, and to permit consumers to prevent the institution from

disclosing nonpublic personal information about them to certain non-

affiliated third parties by "opting out" of that disclosure. These

regulations implement the mandates of Section 124 and Title V of the

GLB Act.

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 .27 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: 4,500.

Estimated number of responses: 342,000.

Estimated total annual burden on respondents: 93,420 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.

3038-0055 in any correspondence.

Lawrence B. Patent, Deputy Director, Division of Clearing and

Intermediary 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.

[[Page 41500]]

Dated: July 24, 2007.

Eileen Donovan,

Acting Secretary of the Commission.

[FR Doc. 07-3698 Filed 7-27-07; 8:45 am]


Last Updated: July 31, 2007