e8-26834

FR Doc E8-26834[Federal Register: November 12, 2008 (Volume 73, Number 219)]

[Notices]

[Page 66845-66847]

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

[DOCID:fr12no08-44]

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COMMODITY FUTURES TRADING COMMISSION

Agency Information Collection Activities: Rules Relating to

Regulation of Domestic Exchange-Traded Options

AGENCY: Commodity Futures Trading Commission.

[[Page 66846]]

ACTION: Extension of an Existing Collection.

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SUMMARY: The Commodity Futures Trading Commission (CFTC) is announcing

an opportunity for public comment on the proposed collection of certain

information by the agency. Under the Paperwork Reduction Act of 1995

(PRA), 44 U.S.C. 3501 et seq., 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 in

response to the notice. This notice solicits comments on rules related

to risk disclosure concerning exchange-traded commodity options.

DATES: Comments must be submitted on or before January 12, 2009.

ADDRESSES: Comments may be mailed to William Penner, Division of

Clearing and Intermediary Oversight, U.S. Commodity Futures Trading

Commission, 1155 21st Street, NW., Washington, DC 20581.

FOR FURTHER INFORMATION CONTACT: William Penner, (202) 418-5407; Fax:

(202) 418-5536; e-mail: [email protected]

SUPPLEMENTARY INFORMATION: Under the PRA, 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(c) 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.

With respect to the following 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

use;

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.

Rules Relating to Regulation of Domestic Exchange-Traded Options, OMB

Control Number 3038-0007--Extension

The rules require futures commission merchants and introducing

brokers: (1) To provide their customers with standard risk disclosure

statements concerning the risk of trading commodity interests; and (2)

to retain all promotional material and the source of authority for

information contained therein. The purpose of these rules is to ensure

that customers are advised of the risks of trading commodity interests

and to avoid fraud and misrepresentation. This information collection

contains the recordkeeping and reporting requirements needed to ensure

regulatory compliance with Commission rules relating to this issue.

The Commission estimates the burden of this collection of

information as follows:

Estimated Annual Reporting Burden

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Estimated Estimated

number of Reports Estimated total number

Regulation respondents or annually by Total annual average number of hours of

recordkeepers each responses of hours per annual burden

per year respondent response in fiscal year

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Reporting:

38.3, 38.4, 40.2 and 40.3 13.00 2.00 26.00 25.00 650.00

(Procedure for designation

or self-certification).....

33.7--(Risk disclosure)..... 175.00 115.00 20,125.00 0.08 1,610.00

Subtotal (reporting 188.00 .............. 20,151.00 .............. 2,260.00

requirements)..........

Recordkeeping:

33.8--(Retention of 225.00 1.00 225.00 25.00 5,625.00

promotional material)......

Subtotal (recordkeeping .............. .............. .............. .............. ..............

requirements)..........

Grand total 413.00 .............. 20,376.00 .............. 7,785.00

(reporting and

recordkeeping).....

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[[Page 66847]]

There are no capital costs or operating and maintenance costs

associated with this collection.

Dated: November 5, 2008.

David A. Stawick,

Secretary of the Commission.

[FR Doc. E8-26834 Filed 11-10-08; 8:45 am]

BILLING CODE 6351-01-P

Last Updated: November 12, 2008