Federal Register, Volume 86 Issue 11 (Tuesday, January 19, 2021) 
[Federal Register Volume 86, Number 11 (Tuesday, January 19, 2021)]
[Pages 5147-5148]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-01081]



Agency Information Collection Activities: Notice of Intent To
Extend Collection 3038-0074: Core Principles and Other Requirements for
Swap Execution Facilities

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.


SUMMARY: The Commodity Futures Trading Commission (CFTC) 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 proposed extension of an existing collection of
information, and to allow 60 days for public comment. This notice
solicits comments, as described below, on the proposed Information
Collection Requests (``ICR'') titled: OMB Control Number 3038-0074 and
Part 37, Relating to Core Principles and Other Requirements for Swap
Execution Facilities.

DATES: Comments must be submitted on or before March 22, 2021.

ADDRESSES: You may submit comments, and ``OMB Control No. 3038-0074''
by any of the following methods:
     The Agency's website, at http://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 and identify that
it is for the renewal of Collection Number 3038-0074. 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: Roger Smith, Associate Chief Counsel,
Division of Market Oversight, Commodity Futures Trading Commission,
(202) 418-5344; email: [email protected]; or Richard Mo, Assistant Chief
Counsel, Division of Market Oversight, Commodity Futures Trading
Commission, (202) 418-7637; 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 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 amendment to

[[Page 5148]]

the collection listed below. 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.
    Title: Core Principles and Other Requirements for Swap Execution
Facilities (OMB Control No. 3038-0074). This is a request for extension
of a currently approved information collection.
    Abstract: Title VII of the Dodd-Frank Wall Street Reform and
Consumer Protection Act (``Dodd-Frank Act'') added new section 5h to
the Commodity Exchange Act (``CEA'') to impose requirements concerning
the registration and operation of swap execution facilities (``SEFs''),
which the Commission has incorporated in part 37 of its regulations.
These information collections are needed for the Commission to ensure
that SEFs comply with these requirements. Among other requirements,
part 37 of the Commission's regulations imposes SEF registration
requirements for a trading platform or system, obligates SEFs to
provide transaction confirmations to swap counterparties, and requires
SEFs to comply with 15 core principles. Collection 3038-0074 was
created in response to the part 37 regulatory requirements for SEFs.
    In April 2018, the Commission published a 30-Day Notice of Intent
to Renew Collection 3038-0074 (30-Day Renewal Notice) and stated that
25 SEFs were registered with the Commission.\1\ However, since
publication of the 30-Day Renewal Notice, the Commission has granted
permanent registration to several additional SEFs, while others SEFs
have had their registrations vacated or have been deemed dormant under
part 40 of the Commission regulations, for a total of 21 registered
SEFs.\2\ Therefore, the Commission is revising the below burden
statement for OMB Control No. 3038-0074 to account for the decrease in
the number of registered SEFs.

    \1\ 83 FR 15557 (Apr. 21, 2018).
    \2\ This includes 20 SEFs that are currently registered with the
Commission and one dormant SEF that is in the process of filing for
reinstatement in accordance with Commission regulation 37.3(d) and
is currently operating under staff no-action relief. See CFTC Letter
No. 20-29, available at https://www.cftc.gov/csl/20-29/download.

    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.\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 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 ICR 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 account for the change in the number of
SEFs currently registered with the Commission. The respondent burden
for this collection is estimated to be as follows:
    Estimated Number of Respondents: 21.
    Estimated Average Burden Hours per Respondent: 21,000.
    Estimated Total Annual Burden Hours: 21,000.\4\

    \4\ The Commission notes that collection 3038-0074 includes an
additional 1,200 burden hours for SEF registration applicants that
have not been affected by this amendment. Therefore, the total
burden for this collection is 22,200 hours.

    Frequency of Collection: As applicable.
    There are no capital costs or operating and maintenance costs
associated with this collection.

    Authority: 44 U.S.C. 3501 et seq.

    Dated: January 13, 2021.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2021-01081 Filed 1-15-21; 8:45 am]