Federal Register, Volume 77 Issue 3 (Thursday, January 5, 2012)[Federal Register Volume 77, Number 3 (Thursday, January 5, 2012)]
[Pages 477-478]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-33841]



Agency Information Collection Activities: Rules Relating to 
Regulation of Domestic Exchange-Traded Options

AGENCY: Commodity Futures Trading Commission.

ACTION: Extension of an existing collection.


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 March 5, 2012.

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: Ryne Miller, (202) 418-5921; Fax: 
(202) 418-5536; email: [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 
     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
                                                            Estimated number                                                            Estimated total
                                                           of respondents or   Reports annually     Total annual    Estimated average   number of hours
                        Regulation                         recordkeepers per       by each           responses       number of hours    of annual burden
                                                                  year            respondent                           per response      in fiscal year
    38.3, 38.4, 40.2 and 40.3 (Procedure for designation               13.00               2.00              26.00              25.00                650
     or self-certification)..............................
    33.7--(Risk disclosure)..............................             120.00             115.00          13,800.00               0.08           1,104.00
        Subtotal (Reporting requirements)................             133.00                             13,826.00                              1,754.00
    33.8--(Retention of promotional material)............             170.00               1.00             170.00              25.00           4,250.00
    Subtotal (Recordkeeping requirements)

[[Page 478]]

        Grand total (Reporting and recordkeeping)........             303.00                             13,996.00                              6,004.00

    There are no capital costs or operating and maintenance costs 
associated with this collection.

    Dated: December 30, 2011.
Sauntia S. Warfield,
Assistant Secretary of the Commission.
[FR Doc. 2011-33841 Filed 1-4-12; 8:45 am]