2023-01050
[Federal Register Volume 88, Number 13 (Friday, January 20, 2023)]
[Notices]
[Pages 3720-3721]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-01050]
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COMMODITY FUTURES TRADING COMMISSION
Agency Information Collection Activities: Notice of Intent To
Renew Collection 3038-0009: Large Trader Reports
AGENCY: Commodity Futures Trading Commission.
ACTION: Notice.
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SUMMARY: The Commodity Futures Trading Commission (CFTC) is announcing
an opportunity for public comment on the proposed collection of certain
information by the agency. Under the Paperwork Reduction Act of 1995
(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 in response to the notice. This
notice solicits comments on large trader reports and related forms.
DATES: Comments must be submitted on or before March 21, 2023.
ADDRESSES: You may submit comments, identified by OMB Control No. 3038-
0009, 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 J. 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: Jonathan Lave, Associate Director,
Division of Market Oversight, Commodity Futures Trading Commission,
(202) 418-5983; 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(c) 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 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\
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\1\ 44 U.S.C. 3512, 5 CFR 1320.5(b)(2)(i) and 1320.8 (b)(3)(vi).
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Title: Large Trader Reports (OMB Control No. 3038-0009). This is a
request for extension of a currently approved information collection.
Abstract: The reporting rules covered by OMB control number 3038-
0009 (``the Collection'') are structured to ensure that the Commission
receives adequate information to carry out its market and financial
surveillance programs. The market surveillance programs analyze market
information to detect and prevent market disruptions and enforce
speculative position limits. The financial surveillance programs
combine market information with financial data to assess the financial
risks presented by large customer positions to Commission registrants
and clearing organizations.\2\
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\2\ OMB control number 3038-0009 previously included the burdens
related to collections of information under 17 CFR part 19. That is
no longer the case. Pursuant to position limits rule amendments, the
burden associated with collections of information under part 19
(Reports by Persons Holding Bona Fide Hedge Positions and By
Merchants and Dealers in Cotton) was moved to OMB control number
3038-0013 in 2020.
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The reporting rules are implemented by the Commission partly
pursuant to the authority of Sections 4a, 4c(b), 4g, and 4i of the
Commodity Exchange Act. Section 4a of the Act permits the Commission to
set, approve exchange-set, and enforce speculative position limits.
Section 4c(b) of the Act gives the Commission plenary authority to
regulate transactions that involve commodity options. Section 4g of the
Act imposes reporting and recordkeeping obligations on registered
entities and registrants (including futures commission merchants
(FCMs), introducing brokers, floor brokers, or floor traders), and
requires each registrant to file such reports as the Commission may
require on proprietary and customer positions executed on any board of
trade in the United States or elsewhere. Lastly, section 4i of the Act
requires the filing of such reports as the Commission may require when
positions made or obtained on designated contract markets or
derivatives transaction execution facilities equal or exceed
Commission-set levels.
With respect to the following 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
use;
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
[[Page 3721]]
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\
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\3\ 17 CFR 145.9.
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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 respondent burden for this collection is
estimated to be .25 hour per response, on average. These estimates
include the time to locate the information related to the exemptions
and to file necessary exemption paperwork. There are approximately
72,644 responses annually, thus the estimated total annual burden on
respondents is 18,512 hours.
Respondents/Affected Entities: Large Traders, Clearing Members,
Contract Markets, and other entities affected by Commission regulations
16.00 and 17.00 as well as Part 21.
Estimated number of respondents: 350.
Estimated Average Burden Hours per Respondent: 52.9 hours.
Estimated total annual burden on respondents: 18,152 hours.
Frequency of collection: Periodically.
There are no capital costs or operating and maintenance costs
associated with this collection.
(Authority: 44 U.S.C. 3501 et seq.)
Dated: January 17, 2023.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2023-01050 Filed 1-19-23; 8:45 am]
BILLING CODE 6351-01-P