[Federal Register Volume 87, Number 143 (Wednesday, July 27, 2022)]
[Pages 45086-45087]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-16106]



Agency Information Collection Activities Under OMB Review

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.


SUMMARY: In compliance with the Paperwork Reduction Act of 1995 
(``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 26, 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. 3038-0078, at https:/

[[Page 45087]]

    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.

    \1\ 17 CFR 145.9.

FOR FURTHER INFORMATION CONTACT: Andrew Chapin, Associate Chief 
Counsel, Market Participants Division, Commodity Futures Trading 
Commission, Three Lafayette Centre, 1155 21st Street NW, Washington, DC 
20581; (202) 418-5465; email: [email protected]

    Title: Conflicts of Interest Policies and Procedures by Futures 
Commission Merchants and Introducing Brokers (OMB Control No. 3038-
    Abstract: On April 3, 2012, the Commission adopted Commission 
regulation 1.71 (Conflicts of interest policies and procedures by 
futures commission merchants and introducing brokers) \2\ pursuant to 
sections 4d(c) \3\ of the Commodity Exchange Act (``CEA'').\4\ 
Commission regulation 1.71 generally requires that, among other things, 
generally that, among other things, futures commission merchants 
(``FCM'') \5\ and introducing brokers (``IB'') \6\ develop conflicts of 
interest procedures and disclosures, adopt and implement written 
policies and procedures reasonably designed to ensure compliance with 
their conflicts of interest and disclosure obligations, and maintain 
specified records related to those requirements.\7\ The Commission 
believes that the information collection obligations imposed by 
Commission regulation 1.71 are essential to (i) ensuring that FCMs and 
IBs develop and maintain the conflicts of interest systems, procedures 
and disclosures required by the CEA, and Commission regulations, and 
(ii) the effective evaluation of these registrants' actual compliance 
with the CEA and Commission regulations.

    \2\ 17 CFR 1.71.
    \3\ 7 U.S.C. 6d(c).
    \4\ 77 FR 20198.
    \5\ For the definition of FCM, see section 1a(28) of the CEA and 
Commission regulation 1.3. 7 U.S.C. 1a(49) and 17 CFR 1.3.
    \6\ For the definitions of IB, see section 1a(31) of the CEA and 
Commission regulation 1.3. 7 U.S.C. 1a(33) and 17 CFR 1.3.
    \7\ See 17 CFR 1.71.

    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.\8\ On May 25, 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 31862 (``60-Day Notice''). The Commission 
did not receive any relevant comments on the 60-Day Notice.

    \8\ 44 U.S.C. 3512, 5 CFR 1320.5(b)(2)(i) and 1320.8 (b)(3)(vi).

    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: 1,065.
    Estimated Average Burden Hours per Registrant: 44.5.
    Estimated Aggregate Burden Hours: 47,392.
    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: July 22, 2022.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2022-16106 Filed 7-26-22; 8:45 am]