[Federal Register Volume 87, Number 80 (Tuesday, April 26, 2022)]
[Pages 24535-24536]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-08788]



Agency Information Collection Activities: Notice of Intent To 
Extend 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 (``Commission'' or 
``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 each proposed extension 
of an existing collection of information, and to allow 60 days for 
public comment. This notice solicits

[[Page 24536]]

comments on the collections of information mandated by Commission 
Regulation 3.3 (Chief Compliance Officer).

DATES: Comments must be submitted on or before June 27, 2022.

ADDRESSES: You may submit comments, identified by ``OMB Control No. 
3038-0080'' by any of the following methods:
     The Agency's 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: Christopher Cummings, Special Counsel, 
Market Participants Division, Commodity Futures Trading Commission, 
Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581; 
(202) 418-5445; 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 Commission is publishing 
notice of the proposed extension of the existing collection of 
information 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: 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 Regulation 3.3 
(Chief Compliance Officer) \1\ under sections 4d(d) and 4s(k) \2\ of 
the Commodity Exchange Act (``CEA''). Commission Regulation 3.3 
requires each futures commission merchant (``FCM''), swap dealer 
(``SD''), and major swap participant (``MSP'') 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 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.

    \1\ 17 CFR 3.3.
    \2\ 7 U.S.C. 6d(d) and 6s(k).

    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 for 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 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 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: The Commission is revising its estimate of the 
burden for this collection to reflect the current number of respondents 
and estimated burden hours. The respondent burden for this collection 
is estimated to be as follows:
    Number of Registrants: 166.
    Estimated Average Burden Hours per Registrant: 1006.
    Estimated Aggregate Burden Hours: 166,966.
    Frequency of Recordkeeping: Annually or on occasion.
    There are no capital costs or operating and maintenance costs 
associated with this collection.

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

    Dated: April 20, 2022.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2022-08788 Filed 4-25-22; 8:45 am]