[Federal Register Volume 88, Number 36 (Thursday, February 23, 2023)]
[Pages 11410-11411]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-03717]



Agency Information Collection Activities: Notice of Intent To 
Extend Collection Number 3038-0049: Procedural Requirements for 
Requests for Interpretative, No-Action, and Exemptive Letters

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 extension 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 comments on requirements related 
to requests for, and the issuance of, exemptive, no-action, and 
interpretative letters.

DATES: Comments must be submitted on or before April 24, 2023.

ADDRESSES: You may submit comments, identified by ``OMB Control Number 
3038-0049,'' by any of the following methods:
     The CFTC 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: Rebecca Mersand, Paralegal Specialist, 
Division of Market Oversight, (202) 941-8910, email: [email protected]
Jacob Chachkin, Associate Chief Counsel, Market Participants Division, 
(202) 418-5496, email: [email protected]; or Steven A. Haidar, 
Assistant Chief Counsel, Division of Market Oversight, (202) 418-5611, 
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 a Federal agency 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. 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 number.\1\ To comply with these requirements, the 
CFTC is publishing notice of the proposed extension of the currently 
approved collection of information listed below.

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

    Title: Procedural Requirements for Requests for Interpretative, No-
Action, and Exemptive Letters (OMB Control No. 3038-0049). This is a 
request for an extension of a currently approved information 
    Abstract: This collection covers the information requirements for 
voluntary requests for, and the issuance of, interpretative, no-action, 
and exemptive letters submitted to Commission staff pursuant to the 
provisions of section 140.99 of the Commission's regulations,\2\ and 
related requests for confidential treatment pursuant to section 
140.98(b) \3\ of the Commission's regulations.

    \2\ 17 CFR 140.99. An archive containing CFTC staff letters may 
be found at http://www.cftc.gov/LawRegulation/CFTCStaffLetters/index.htm.
    \3\ 17 CFR 140.98(b).

    The collection requirements described herein are voluntary. They 
apply to parties that choose to request a benefit from Commission staff 
in the form of the regulatory action described in section 140.99. Such 
benefits may include, for example, relief from some or all of the 
burdens associated with other collections of information, relief from 
regulatory obligations that do not constitute collections of 
information, interpretations, or extensions of time for compliance with 
certain Commission regulations. It is likely that persons who would opt 
to request action under section 140.99 will have determined that the 
information collection burdens that they would assume by doing so will 
be outweighed substantially by the relief that they seek to receive.
    This information collection is necessary, and would be used, to 
assist Commission staff in understanding the type of relief that is 
being requested and the basis for the request. It is also necessary, 
and would be used, to provide staff with a sufficient basis for 
determining whether: (1) granting the relief would be necessary or 
appropriate under the facts and circumstances presented by the 
requestor; (2) the relief provided should be conditional and/or time-
limited; and (3) granting the relief would be consistent with staff 
responses to requests that have been presented under similar facts and 
circumstances. In some cases, the requested relief might be granted 
upon the condition that those who seek the benefits of that relief 
fulfill certain conditions that are necessary to ensure that the relief 
granted by Commission staff is appropriate. Once again, it is likely 
that those who would comply with these conditions will have determined 
that the burden of

[[Page 11411]]

complying with the conditions is outweighed by the relief that they 
seek to receive. This information collection also is necessary to 
provide a mechanism whereby persons requesting interpretative, no-
action, and exemptive letters may seek temporary confidential treatment 
of their request and the Commission staff response thereto and the 
grounds upon which such confidential treatment is sought.
    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 the 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 section 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 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 Requirement 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 burden estimate 
for this information collection. The Commission has based its estimate 
of the annual number of respondents related to this information 
collection, in part, on the average number of interpretative, no-
action, and exemptive letters issued by Commission staff in 2020, 2021, 
and 2022. The Commission generally estimates that each request was made 
by a unique respondent. To that number, the Commission is adding 
additional respondents that have incurred burden hours preparing 
requests for relief that did not generate a Commission staff letter in 
    This estimate includes the burden hours for preparing, filing, and 
updating such request letters as well as the burden of complying with 
any conditions that may be contained in any interpretative, no-action, 
or exemptive letters granting relief. It also includes burden hours 
required to prepare and submit related requests for confidential 
treatment. The burden hours associated with individual requests will 
vary widely, depending upon the type and complexity of relief 
requested, whether the request presents novel or complex issues, the 
relevant facts and circumstances, and the number of requestors or other 
affected entities.
    The respondent burden is estimated to be as follows:
    Estimated Number of Annual Respondents: 45.
    Estimated Average Annual Burden Hours per Respondent: 40.
    Estimated Total Annual Burden Hours: 1,800.
    Frequency of Collection: Occasional.
    Type of Respondents: Respondents include persons registered with 
the Commission (such as commodity pool operators, commodity trading 
advisors, derivatives clearing organizations, designated contract 
markets, futures commission merchants, introducing brokers, swap 
dealers, and swap execution facilities), persons seeking an exemption 
from registration, persons whose registration with the Commission is 
pending, trade associations and their members, eligible contract 
participants, and other persons seeking relief from discrete regulatory 
    There are no capital costs or operating and maintenance costs 
associated with this collection.

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

    Dated: February 17, 2023.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2023-03717 Filed 2-22-23; 8:45 am]