Federal Register, Volume 80 Issue 218 (Thursday, November 12, 2015)  
[Federal Register Volume 80, Number 218 (Thursday, November 12, 2015)]
[Pages 69947-69948]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-28732]



Agency Information Collection Activities: Notice of Intent To 
Renew Collection Number 3038-0080, Annual Report for Chief Compliance 
Officer of Registrants

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.


SUMMARY: The Commodity Futures Trading Commission (``CFTC'' or 
``Commission'') is announcing an opportunity for public comment on the 
proposed 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 3.3 (Chief Compliance 

DATES: Comments must be submitted on or before January 11, 2016.

ADDRESSES: You may submit comments, identified by ``Annual Report for 
Chief Compliance Officer of Registrants,'' and Collection Number 3038-
0080 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: Annual Report for Chief Compliance Officer of Registrants 
(OMB Control No. 3038-0080). This is a request for an extension of a 
currently approved information collection.
    Abstract: On April 3, 2012, the Commission adopted Commission 
regulation 3.3 (Chief Compliance Officer) \2\ under sections 4d(d) and 
4s(k) \3\ of the Commodity Exchange Act (``CEA''). Commission 
regulation 3.3 requires each futures commission merchant (``FCM''),\4\ 
swap dealer (``SD''),\5\ and major swap participant (``MSP'') \6\ to 
designate, by filing a form 8-R, a chief compliance officer who is 
responsible for developing and administering policies and procedures 
that fulfill certain duties of the SD, MSP, or FCM and that are 
reasonably designed to ensure the registrant's compliance with the CEA 
and Commission regulations; establishing procedures for the remediation 
of noncompliance issues identified by the chief compliance officer; 
establishing procedures for the handling, management response, 
remediation, retesting, and closing of noncompliance issues; preparing, 
signing, certifying and filing with the Commission an annual compliance 
report that contains the information specified in the regulations; 
amending the annual report if material

[[Page 69948]]

errors or omissions are identified; and maintaining records of the 
registrant's compliance policies and procedures and records related to 
the annual report. The information collection obligations imposed by 
Commission regulation 3.3 are essential to ensuring that FCMs, SDs, and 
MSPs maintain comprehensive policies and procedures that promote 
compliance with the CEA and Commission regulations. In particular, the 
Commission believes that, among other things, these obligations (i) 
promote compliance behavior through periodic self-evaluation, (ii) 
inform the Commission of possible compliance weaknesses, (iii) assist 
the Commission in determining whether the registrant remains in 
compliance with the CEA and Commission regulations, and (iv) help the 
Commission to assess whether the registrant has mechanisms in place to 
adequately address compliance problems that could lead to a failure of 
the registrant. With respect to the collection of information, the CFTC 
invites comments on:

    \2\ 17 CFR 3.3.
    \3\ 7 U.S.C. 6d(d) and 6s(k).
    \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 SD, see section 1a(49) of the CEA and 
Commission regulation 1.3(ggg). 7 U.S.C. 1a(49) and 17 CFR 1.3(ggg).
    \6\ For the definitions of MSP, see section 1a(33) of the CEA 
and Commission regulation 1.3(hhh). 7 U.S.C. 1a(33) and 17 CFR 

     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: In light of the contraction in the number of 
Commission-registered FCMs since the Commission promulgated regulation 
3.3, the Commission is revising its estimate of the burden for this 
collection. Accordingly, the respondent burden for this collection is 
estimated to be as follows:
    Number of Registrants: 200.
    Estimated Average Burden Hours per Registrant: 1006.
    Estimated Aggregate Burden Hours: 201,200.
    Frequency of Recordkeeping: Annually or on occasion.

    Authority: 44 U.S.C. 3501 et seq.

    Dated: November 6, 2015.
Robert N. Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2015-28732 Filed 11-10-15; 8:45 am]