[Federal Register: July 30, 2007 (Volume 72, Number 145)]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
COMMODITY FUTURES TRADING COMMISSION
Agency Information Collection Activities Under OMB Review: Notice
of Intent To Renew Collection 3038-0055, Privacy of Consumer Financial
AGENCY: Commodity Futures Trading Commission.
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
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
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.
Dated: July 24, 2007.
Acting Secretary of the Commission.
[FR Doc. 07-3698 Filed 7-27-07; 8:45 am]
BILLING CODE 6351-01-M
Last Updated: July 31, 2007