Federal Register, Volume 85 Issue 53 (Wednesday, March 18, 2020) 
[Federal Register Volume 85, Number 53 (Wednesday, March 18, 2020)]
[Pages 15436-15437]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-05575]



Agency Information Collection Activities: Notice of Intent To
Extend Collection Number 3038-0049: Procedural Requirements for
Requests for Interpretative, No-Action, and Exemptive Letters

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.


SUMMARY: The Commodity Futures Trading Commission (``Commission'' or
``CFTC'') is announcing an opportunity for public comment on the
proposed extension 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 requirements related
to requests for, and the issuance of, exemptive, no-action, and
interpretative letters.

DATES: Comments must be submitted on or before May 18, 2020.

ADDRESSES: You may submit comments, identified by ``OMB Control Number
3038-0049,'' by any of the following methods:
     The CFTC website, at https://comments.cftc.gov/. Follow
the instructions for submitting comments through the website.
     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.
    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 https://www.cftc.gov.

FOR FURTHER INFORMATION CONTACT: Jacob Chachkin, Special Counsel,
Division of Swap Dealer and Intermediary Oversight, (202) 418-5496,
email: [email protected]; Steven Haidar, Special Counsel, Division of
Market Oversight, (202) 418-5611, email: [email protected]; or Melissa
D'Arcy, Special Counsel, Division of Clearing and Risk, (202) 418-5086,
email: [email protected].

SUPPLEMENTARY INFORMATION: Under the PRA, 44 U.S.C. 3501 et seq.,
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 a Federal agency 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. 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 number. To comply with these requirements, the
CFTC is publishing notice of the proposed extension of the currently
approved collection of information listed below.

[[Page 15437]]

    Title: Procedural Requirements for Requests for Interpretative, No-
Action, and Exemptive Letters (OMB Control No. 3038-0049). This is a
request for an extension of a currently approved information
    Abstract: This collection covers the information requirements for
voluntary requests for, and the issuance of, interpretative, no-action,
and exemptive letters submitted to Commission staff pursuant to the
provisions of section 140.99 of the Commission's regulations,\1\ and
related requests for confidential treatment pursuant to section
140.98(b) \2\ of the Commission's regulations.

    \1\ 17 CFR 140.99. An archive containing CFTC staff letters may
be found at http://www.cftc.gov/LawRegulation/CFTCStaffLetters/index.htm.
    \2\ 17 CFR 140.98(b).

    The collection requirements described herein are voluntary. They
apply to parties that choose to request a benefit from Commission staff
in the form of the regulatory action described in section 140.99. Such
benefits may include, for example, relief from some or all of the
burdens associated with other collections of information, relief from
regulatory obligations that do not constitute collections of
information, interpretations, or extensions of time for compliance with
certain Commission regulations. It is likely that persons who would opt
to request action under section 140.99 will have determined that the
information collection burdens that they would assume by doing so will
be outweighed substantially by the relief that they seek to receive.
    This information collection is necessary, and would be used, to
assist Commission staff in understanding the type of relief that is
being requested and the basis for the request. It is also necessary,
and would be used, to provide staff with a sufficient basis for
determining whether: (1) Granting the relief would be necessary or
appropriate under the facts and circumstances presented by the
requestor; (2) the relief provided should be conditional and/or time-
limited; and (3) granting the relief would be consistent with staff
responses to requests that have been presented under similar facts and
circumstances. In some cases, the requested relief might be granted
upon the condition that those who seek the benefits of that relief
fulfill certain conditions that are necessary to ensure that the relief
granted by Commission staff is appropriate. Once again, it is likely
that those who would comply with these conditions will have determined
that the burden of complying with the conditions is outweighed by the
relief that they seek to receive. This information collection also is
necessary to provide a mechanism whereby persons requesting
interpretative, no-action, and exemptive letters may seek temporary
confidential treatment of their request and the Commission staff
response thereto and the grounds upon which such confidential treatment
is sought.
    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 the 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 section 145.9 of
the Commission's regulations.\3\

    \3\ 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 https://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 Requirement 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 burden estimate
for this information collection. The Commission has based its estimate
of the annual number of respondents related to this information
collection, in part, on the average number of interpretative, no-
action, and exemptive letters issued by Commission staff in 2017, 2018,
and 2019. The Commission generally estimates that each request was made
by a unique respondent. To that number, the Commission is adding
additional respondents that have incurred burden hours preparing
requests for relief that did not generate a Commission staff letter in
    This estimate includes the burden hours for preparing, filing, and
updating such request letters as well as the burden of complying with
any conditions that may be contained in any interpretative, no-action,
or exemptive letters granting relief. It also includes burden hours
required to prepare and submit related requests for confidential
treatment. The burden hours associated with individual requests will
vary widely, depending upon the type and complexity of relief
requested, whether the request presents novel or complex issues, the
relevant facts and circumstances, and the number of requestors or other
affected entities.
    The respondent burden is estimated to be as follows:
    Estimated Number of Annual Respondents: 68.
    Estimated Average Annual Burden Hours per Respondent: 40.
    Estimated Total Annual Burden Hours: 2,720.
    Frequency of Collection: Occasional.
    Type of Respondents: Respondents include persons registered with
the Commission (such as commodity pool operators, commodity trading
advisors, derivatives clearing organizations, designated contract
markets, futures commission merchants, introducing brokers, swap
dealers, and swap execution facilities), persons seeking an exemption
from registration, persons whose registration with the Commission is
pending, trade associations and their members, eligible contract
participants, and other persons seeking relief from discrete regulatory
    There are no capital costs or operating and maintenance costs
associated with this collection.

(Authority 44 U.S.C. 3501 et seq.)

    Dated: March 12, 2020.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2020-05575 Filed 3-17-20; 8:45 am]