[Federal Register Volume 88, Number 103 (Tuesday, May 30, 2023)]
[Pages 34489-34490]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-11423]



Agency Information Collection Activities: Notice of Intent To 
Request Approval for Collection 3038-0117, Exemption From Derivatives 
Clearing Organization Registration

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.


SUMMARY: The Commodity Futures Trading Commission (``CFTC'' or 
``Commission'') is announcing an opportunity for public comment on a 
proposed information collection 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 and to allow 60 days for public comment. This notice 
announces the intention of the Commission to request approval for 
Collection 3038-0117, Exemption from Derivatives Clearing Organization 

DATES: Comments must be submitted on or before July 31, 2023.

ADDRESSES: You may submit comments, identified by ``Notice of Intent to 
Request for Approval for Collection 3038-0117, Exemption from 
Derivatives Clearing Organization Registration,'' by any of the 
following methods:
     The Agency's website, at https://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: Eileen Chotiner, Division of Clearing 
and Risk, Commodity Futures Trading Commission, (202) 418-5467; email: 
[email protected], and refer to OMB Control No. 3038-0117.

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 information 
collection including each proposed extension of an existing information 
collection, before submitting the collection to OMB for approval. To 
comply with this requirement, the CFTC is publishing notice of its 
intent to request approval for an existing collection in use without a 
currently approved OMB control number relating to the granting of 
exemptions from registration as a Derivatives Clearing Organization 
(``DCO''). An agency may not conduct or sponsor, and a person is not 
required to respond to, an information collection unless it displays a 
currently valid OMB control number.
    Title: Exemption from Derivatives Clearing Organization 
Registration (OMB Control No. 3038-0117). This is a request for 
approval for an existing collection in use without a currently approved 
OMB control number.
    Abstract: This information collection is associated with CFTC 
regulations codifying the policies and procedures that the Commission 
follows with respect to granting exemptions from registration as a DCO 
for the clearing of proprietary swaps for U.S. persons and futures 
commission merchants (``FCMs''). The rules include reporting 
requirements that are collections of information requiring approval 
under the PRA. Specifically, section 39.6 of the Commission's 
regulations specifies the conditions and procedures under which a 
clearing organization may apply for exemption from registration as a 
DCO, the information that must be provided to the Commission to obtain 
and maintain such exemption, and procedures for termination of an 
exemption. See 17 CFR 39. The information that is collected under these 
regulations is necessary for the Commission to determine whether a 
clearing organization qualifies for exemption from DCO registration, to 
evaluate the continued eligibility of the exempt DCO for exemption from 
registration, to review compliance by the exempt DCO with any 
conditions of such exemption, or to conduct its oversight of U.S. 
persons and the swaps that are cleared by U.S. persons through the 
exempt DCO.
    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 CFTC, 
including whether the information will have a practical use;
     The accuracy of the CFTC'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

[[Page 34490]]

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 CFTC to consider information that you believe 
is exempt from disclosure under the Freedom of Information Act 
(``FOIA''), a petition for confidential treatment of the exempt 
information may be submitted according to the procedures established in 
Sec.  145.9 of the CFTC's regulations.\1\

    \1\ 17 CFR 145.9.

    The CFTC 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 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 FOIA.
    Burden Statement: The provisions of part 39 of the CFTC's 
Regulations include reporting requirements that constitute information 
collections within the meaning of the PRA. With respect to the ongoing 
reporting obligations associated with exemption from DCO registration, 
the CFTC believes that exempt DCOs incur an aggregate annual time-
burden of 257 hours.
    Respondents/affected entities: Derivatives Clearing Organizations.
    Estimated number of respondents: 9.
    Estimated average burden hours per respondent: 29 hours.\2\

    \2\ Average burden hours per respondent rounded to the nearest 
full hour.

    Estimated total annual burden hours on respondents: 257 hours.
    Frequency of collection: 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: May 24, 2023.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2023-11423 Filed 5-26-23; 8:45 am]