[Federal Register Volume 88, Number 12 (Thursday, January 19, 2023)]
[Pages 3395-3396]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-00923]



Agency Information Collection Activities: Notice of Intent To 
Renew Collection 3038-0013: Position Limits

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.


SUMMARY: The Commodity Futures Trading Commission (``CFTC'' or 
``Commission'') is announcing an opportunity for public comment on the 
proposed 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 collections of information 
related to the Commission's position limits rule.

DATES: Comments must be submitted on or before March 20, 2023.

ADDRESSES: You may submit comments, identified by ``Position Limits,'' 
or ``OMB Control No. 3038-0013,'' 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. All comments 
must be submitted in English, or if not, accompanied by an English 
translation. Comments will be posted as received to www.cftc.gov.

FOR FURTHER INFORMATION CONTACT: Steven A. Haidar, Assistant Chief 
Counsel, Division of Market Oversight, (202) 418-5611, email: 
[email protected], or Grey Tanzi, Assistant Chief Counsel, Division of 
Market Oversight, (312) 596-0635, 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 before submitting the collection to OMB for approval. To 
comply with this requirement, the CFTC is publishing this notice of the 
proposed 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.\1\

    \1\ 44 U.S.C. 3512, 5 CFR 1320.5(b)(2)(i) and 1320.8 (b)(3)(vi).

    Title: Position Limits (OMB Control No. 3038-0013). This is a 
request for extension of a currently approved information collection.
    Abstract: Commodity Exchange Act (``CEA'') section 4a directs the 
Commission to establish limits on speculative positions, as the 
Commission determines to be necessary, to prevent the harms caused by 
excessive speculation. This Position Limits (OMB Control No. 3038-0013) 
collection of information includes collections of information required 
under both the Final Rule and the

[[Page 3396]]

Aggregation Rule (as each is defined below).
    In 2021, the Commission issued a final rule on position limits that 
implemented CEA section 4a and established the Commission's new 
position limits regime found in part 150 of the Commission's 
Regulations (``Final Rule'').\2\ The Final Rule, among other things, 
includes: new and amended Federal spot-month limits for the 25 core 
referenced futures contracts; (2) amended Federal non-spot limits for 
the nine legacy agricultural contracts subject to existing Federal 
position limits; (3) amended rules governing exchange-set limit levels 
and grants of exemptions therefrom; (4) an amended process for 
requesting certain spread exemptions and non-enumerated bona fide hedge 
recognitions for purposes of Federal position limits directly from the 
Commission; (5) a new streamlined process for recognizing non-
enumerated bona fide hedge positions from Federal limit requirements; 
and (6) amendments to part 19 of the Commission's Regulations and 
related provisions that eliminated certain reporting obligations that 
require traders to submit a Form 204 and parts I and II of Form 304.

    \2\ See ``Position Limits for Derivatives,'' 86 FR 3236 (January 
24, 2021).

    Separately, in 2016 the Commission issued a final rule amending 
Commission Regulation 150.4, which sets forth requirements regarding 
the aggregation of positions subject to federal position limits (the 
``Aggregation Rule'').\3\ Among other things, Regulation 150.4 includes 
standards for the aggregation of accounts and procedures for seeking an 
exemption from position aggregation requirements under the Commission's 
federal position limits.

    \3\ See ``Aggregation of Positions,'' 81 FR 91454 (December 16, 
2016). The position aggregation requirements set forth in Regulation 
150.4 are the subject of no-action letter 22-09 and have been the 
subject of similar no-action letters since the rule's effective 
date. As such, as of the date of this notice, market participants do 
not submit the reports set forth in Regulation 150.4. Accordingly, 
all collections of informations and related burden estimates under 
Regulation 150.4 are hypothetical.

    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.\4\

    \4\ 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 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 respondent burden for this collection is 
estimated to be as follows:
    Currently Affected Entities: Designated Contract Markets and market 
    Estimated Number of Respondents: 776.
    Estimated Average Burden Hours per Respondent: 15.14 hours.
    Estimated Total Annual Burden on Respondents: 11,748 hours.
    Frequency of Collection: As needed.
    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, 2023.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2023-00923 Filed 1-18-23; 8:45 am]