[Federal Register Volume 80, Number 227 (Wednesday, November 25, 2015)]
[Pages 73732-73733]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-30047]



Agency Information Collection Activities: Notice of Intent To 
Renew Collection Number 3038-0078, Conflicts of Interest Policies and 
Procedures by Futures Commission Merchants and Introducing Brokers

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.


[[Page 73733]]

SUMMARY: The Commodity Futures Trading Commission (``CFTC'' or 
``Commission'') is announcing an opportunity for public comment on the 
proposed renewal of a collection of certain information by the agency. 
Under the Paperwork Reduction Act (``PRA''), 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. This notice solicits comments on the collections of 
information mandated by Commission regulation 1.71 (Conflicts of 
interest policies and procedures by futures commission merchants and 
introducing brokers).

DATES: Comments must be submitted on or before January 25, 2016.

ADDRESSES: You may submit comments, identified by ``Conflicts of 
Interest Policies and Procedures by Futures Commission Merchants and 
Introducing Brokers,'' and Collection Number 3038-0078 by any of the 
following methods:
     The Agency's Web site, at http://comments.cftc.gov/. 
Follow the instructions for submitting comments through the Web site.
     Mail: Christopher Kirkpatrick, Secretary of the 
Commission, Commodity Futures Trading Commission, Three Lafayette 
Centre, 1155 21st Street, NW., Washington, DC 20581.
     Hand Delivery/Courier: Same as Mail above.
     Federal eRulemaking Portal: http://www.regulations.gov/. 
Follow the instructions for submitting comments through the Portal.
    Please submit your comments using only one method.
    All comments must be submitted in English, or if not, accompanied 
by an English translation. Comments will be posted as received to 

FOR FURTHER INFORMATION CONTACT: Jacob Chachkin, Special Counsel, 
Division of Swap Dealer and Intermediary Oversight, Commodity Futures 
Trading Commission, (202) 418-5496, email: [email protected]

SUPPLEMENTARY INFORMATION: Under the PRA,\1\ 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 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.

    \1\ 44 U.S.C. 3501 et seq.

    Title: Conflicts of Interest Policies and Procedures by Futures 
Commission Merchants and Introducing Brokers (OMB Control No. 3038-
0078). This is a request for an extension of a currently approved 
information collection.
    Abstract: On April 3, 2012, the Commission adopted Commission 
regulation 1.71 (Conflicts of interest policies and procedures by 
futures commission merchants and introducing brokers)\2\ pursuant to 
section 4d(c)\3\ of the Commodity Exchange Act (``CEA''). Commission 
regulation 1.71 requires generally that, among other things, futures 
commission merchants (``FCM'')\4\ and introducing brokers (``IB'')\5\ 
develop conflicts of interest procedures and disclosures, adopt and 
implement written policies and procedures reasonably designed to ensure 
compliance with their conflicts of interest and disclosure obligations, 
and maintain specified records related to those requirements.\6\ The 
Commission believes that the information collection obligations imposed 
by Commission regulation 1.71 are essential (i) to ensuring that FCMs 
and IBs develop and maintain the conflicts of interest systems, 
procedures and disclosures required by the CEA, and Commission 
regulations, and (ii) to the effective evaluation of these registrants' 
actual compliance with the CEA and Commission regulations. 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.

    \2\ 17 CFR 1.71.
    \3\ 7 U.S.C. 6d(c).
    \4\ For the definition of FCM, see section 1a(28) of the CEA and 
Commission regulation 1.3(p). 7 U.S.C. 1a(28) and 17 CFR 1.3(p).
    \5\ For the definition of IB, see section 1a(31) of the CEA and 
Commission regulation 1.3(mm). 7 U.S.C. 1a(31) and 17 CFR 1.3(mm).
    \6\ See 17 CFR 1.71.

    With respect to the 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 
     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.
    You should submit only information that you wish to make available 
publicly. If you wish the Commission to consider information that you 
believe is exempt from disclosure under the Freedom of Information Act, 
a petition for confidential treatment of the exempt information may be 
submitted according to the procedures established in Sec.  145.9 of the 
Commission's regulations.\7\

    \7\ 17 CFR 145.9.

    The Commission reserves the right, but shall have no obligation, to 
review, pre-screen, filter, redact, refuse or remove any or all of your 
submission from http://www.cftc.gov that it may deem to be 
inappropriate for publication, such as obscene language. All 
submissions that have been redacted or removed that contain comments on 
the merits of the information collection request will be retained in 
the public comment file and will be considered as required under the 
Administrative Procedure Act and other applicable laws, and may be 
accessible under the Freedom of Information Act.
    Burden Statement: The Commission is revising its estimate of the 
burden for this collection to reflect the current number of registered 
FCMs and IBs. Accordingly, the respondent burden for this collection is 
estimated to be as follows:
    Number of Registrants: 1,381.
    Estimated Average Burden Hours per Registrant: 44.5.
    Estimated Aggregate Burden Hours: 61,454.5.
    Frequency of Recordkeeping: As applicable.
    44 U.S.C. 3501 et seq.)

    Dated: November 20, 2015.
Robert N. Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2015-30047 Filed 11-24-15; 8:45 am]