2022-14088

[Federal Register Volume 87, Number 126 (Friday, July 1, 2022)]
[Notices]
[Pages 39506-39508]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-14088]


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COMMODITY FUTURES TRADING COMMISSION


Agency Information Collection Activities Under OMB Review

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.

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SUMMARY: In compliance with the Paperwork Reduction Act of 1995

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(``PRA''), this notice announces that the Information Collection 
Request (``ICR'') abstracted below has been forwarded to the Office of 
Information and Regulatory Affairs (``OIRA''), of the Office of 
Management and Budget (``OMB''), for review and comment. The ICR 
describes the nature of the information collection and its expected 
costs and burden.

DATES: Comments must be submitted on or before August 1, 2022.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be submitted within 30 days of this 
notice's publication to OIRA, at https://www.reginfo.gov/public/do/PRAMain. Please find this particular information collection by 
selecting ``Currently under 30-day Review--Open for Public Comments'' 
or by using the website's search function. Comments can be entered 
electronically by clicking on the ``comment'' button next to the 
information collection on the ``OIRA Information Collections Under 
Review'' page, or the ``View ICR--Agency Submission'' page. A copy of 
the supporting statement for the collection of information discussed 
herein may be obtained by visiting https://www.reginfo.gov/public/do/PRAMain.
    In addition to the submission of comments to https://Reginfo.gov as 
indicated above, a copy of all comments submitted to OIRA may also be 
submitted to the Commodity Futures Trading Commission (the 
``Commission'' or ``CFTC'') by clicking on the ``Submit Comment'' box 
next to the descriptive entry for OMB Control No. 3038-0052, at https://comments.cftc.gov/FederalRegister/PublicInfo.aspx.
    Or by either of the following methods:
     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.
    All comments must be submitted in English, or if not, accompanied 
by an English translation. Comments submitted to the Commission should 
include 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.\1\ 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 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.
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    \1\ 17 CFR 145.9.

FOR FURTHER INFORMATION CONTACT: Roger Smith, Associate Chief Counsel, 
Division of Market Oversight, Commodity Futures Trading Commission, 
Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581; 202-
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418-5344; email: [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Core Principles & Other Requirements for DCMs (OMB Control 
No. 3038-0052). This is a request for a revision and extension of a 
currently approved information collection.
    Abstract: The regulations governing designated contract markets 
(``DCMs'') originally were adopted pursuant to the Commodity Futures 
Modernization Act of 2000, which amended section 5 of the Commodity 
Exchange Act (``CEA'') to impose requirements concerning the 
registration \2\ and operation of DCMs.\3\ The DCM statutory framework 
subsequently was revised as a result of further amendments to the CEA 
under Title VII of the Dodd-Frank Wall Street Reform and Consumer 
Protection Act (``Dodd-Frank Act'').\4\ Part 38 of the Commission's 
regulations governs the activities of DCMs. The information collected 
pursuant to Part 38 is necessary for the Commission to evaluate whether 
entities operating as, or applying to become, DCMs comply with the Part 
38 and other Commission requirements and the CEA's statutory 
requirements.
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    \2\ The Commission notes that the terms ``registered'' and 
``designated'' are used interchangeably and mean the same thing.
    \3\ 7 U.S.C. 1 et seq.
    \4\ See Dodd-Frank Wall Street Reform and Consumer Protection 
Act, Public Law 111-203, tit. VII, 124 Stat. 1376 (2010) (codified 
as amended in various sections of 7 U.S.C.), available at https://www.cftc.gov/sites/default/files/idc/groups/public/@lrfederalregister/documents/file/2013-12242a.pdf.
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    Collection 3038-0052 was created in response to the Part 38 
regulatory requirements for DCMs. In general, OMB Control Number 3038-
0052 covers all information collections in Part 38, including Subpart A 
and the DCM core principles (i.e., Subparts B through X) as well as the 
related appendices thereto (i.e., Appendix A--Form DCM; Appendix B--
Guidance on, and Acceptable Practices in, Compliance with Core 
Principles; and Appendix C--Demonstration of Compliance That a Contract 
Is Not Readily Susceptible to Manipulation). Further, this OMB control 
number, 3038-0052, also includes all information collections related to 
Part 9 (``Rules Relating to Review of Exchange Disciplinary, Access 
Denial or Other Adverse Actions'') to the extent Part 9 is applicable 
to DCMs.\5\ This collection also includes the requirements under 
regulation 38.251(g) in connection with the reporting of specific 
market disruption events to the Commission.
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    \5\ Section 38.707 specifically references Part 9. Accordingly, 
the Commission's previous information collection estimates under 
Part 38 have included compliance with Part 9 to the extent 
applicable to DCMs. The Commission is referencing DCMs' compliance 
obligations with Part 9 for the sake of clarity, but this does not 
represent a new or modified information collection.
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    This OMB control number, 3038-0052, also includes collections under 
regulation 1.52 regarding the Enhanced Protections Afforded Customer 
and Customer Funds Held by Futures Clearing Merchants and Derivatives 
Clearing Organizations. Commission regulation 1.52 imposes information 
collection burdens on DCMs.\6\
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    \6\ The Commission notes that Sec.  38.605 incorporates and 
references Sec.  1.52. Accordingly, the Commission's previous 
information collection estimates under Part 38 have included 
compliance with Sec.  1.52 to the extent applicable to DCMs. The 
Commission is referencing DCMs' compliance obligations with Sec.  
1.52 for the sake of clarity, but this does not represent a new or 
modified information collection.
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    Additionally, this OMB control number, 3038-0052, also includes 
collections under regulation 38.1051(n) that relate to system 
safeguards and cybersecurity testing requirements and requires DCMs to 
provide the Commission with annual trading volume information.
    For the majority of collections under OMB control number 3038-0052, 
the Commission notes that the number of registered, active DCMs has 
increased from 14 to 16. This increase in the number of registered DCMs 
will increase the total information collection burdens for OMB control 
number 3038-0052 as shown below.\7\
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    \7\ For the collections related to Commission regulation 
38.251(g), the Commission notes that the number of registered, 
active DCMs has decreased from 17 to 16. This decrease is reflected 
below for collections related to Commission regulation 38.251(g). 
However, despite this decrease, the total information collection 
burdens for OMB control number 3038-0052 will increase.
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    An agency may not conduct or sponsor, and a person is not required 
to

[[Page 39508]]

respond to, a collection of information unless it displays a currently 
valid OMB control number. On April 28, 2022, the Commission published 
in the Federal Register notice of the proposed extension of this 
information collection and provided 60 days for public comment on the 
proposed extension, 87 FR 25228 (``60-Day Notice''). The Commission did 
not receive any relevant comments on the 60-Day Notice.
    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:
     Regulatory & Core Principle Compliance Part 38 (Subparts 
A-W) and related Appendices:
    Estimated Number of Respondents: 16.
    Estimated Average Burden Hours per Respondent: 330.
    Estimated Total Annual Burden Hours: 5,280.
    Frequency of Collection: per Trading Day.
     Sec.  1.52 (Examination Program and Audit of Program):
    Estimated Number of Respondents: 16.
    Estimated Average Burden Hours per Respondent: 49.
    Estimated Total Annual Burden Hours: 784.
    Frequency of Collection: Annually.
     Core Principle 16 ``Conflicts of Interest'' and Related 
Acceptable Practices (Annual Assessment Report):
    Estimated Number of Respondents: 16.
    Estimated Average Burden Hours per Respondent: 70.
    Estimated Total Annual Burden Hours: 1,120.
    Frequency of Collection: Annually.
     Sec.  38.1101 et al (Quarterly Financial Reports):
    Estimated Number of Respondents: 16.
    Estimated Average Burden Hours per Respondent: 40.
    Estimated Total Annual Burden Hours: 640.
    Frequency of Collection: Quarterly.
     Sec.  38.1051(n) (Required Production of Annual Trading 
Volume):
    Estimated Number of Respondents: 16.
    Estimated Average Burden Hours per Respondent: 0.5.
    Estimated Total Annual Burden Hours: 8.
    Frequency of Collection: Annually.
     Sec.  38.3 and Form DCM (DCM Registration):
    Estimated Number of Respondents: 4.
    Estimated Average Burden Hours per Respondent: 300.
    Estimated Total Annual Burden Hours: 1,200 hours.
    Frequency of Collection: As applicable.
     Sec.  38.251(g) (Required Market Disruptions 
Notifications):
    Estimated Number of Respondents: 16.
    Estimated Average Burden Hours per Respondent: 66.4 hours.
    Estimated Total Annual Burden Hours: 1,062.4 hours.
    Frequency of Collection: As needed.
     Sec. Sec.  38.950 and 38.951 (Recordkeeping Related to 
Compliance with 38.251(g)):
    Estimated Number of Respondents: 16.
    Estimated Average Burden Hours per Respondent: 25 hours.
    Estimated Total Annual Burden Hours: 400 hours.
    Frequency of Collection: As needed.
     Total Annual Burden for the Collection: 10,494.4 hours.
    There are no capital costs or operating and maintenance costs 
associated with this collection.

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

    Dated: June 27, 2022.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2022-14088 Filed 6-30-22; 8:45 am]
BILLING CODE 6351-01-P