2025-05982
[Federal Register Volume 90, Number 66 (Tuesday, April 8, 2025)]
[Notices]
[Pages 15139-15140]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-05982]
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COMMODITY FUTURES TRADING COMMISSION
Agency Information Collection Activities: Notice of Intent To
Extend Collection Number 3038-0080: Annual Report for Chief Compliance
Officer of Registrants
AGENCY: Commodity Futures Trading Commission.
ACTION: Notice.
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SUMMARY: The Commodity Futures Trading Commission (``Commission'' or
``CFTC'') is announcing an opportunity for public comment on the
proposed renewal 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 the collections of
information mandated by Commission Regulation 3.3 (Chief Compliance
Officer).
DATES: Comments must be submitted on or before June 9, 2025.
ADDRESSES: You may submit comments, identified by ``OMB Control No.
3038-0080'' 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 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: Catherine Brescia, Attorney Advisor,
Market Participants Division, Commodity Futures Trading Commission,
Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581;
(202) 418-6236; 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, including each proposed extension of an existing
collection of information, before submitting the collection to OMB for
approval. To comply with this requirement, the Commission is publishing
notice of the proposed extension of the existing 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).
See also 46 FR 63035 (Dec. 30, 1981).
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Title: Annual Report for Chief Compliance Officer of Registrants
(OMB Control No. 3038-0080). This is a request for an extension of a
currently approved information collection.
Abstract: On April 3, 2012, the Commission adopted Regulation 3.3
(Chief Compliance Officer) \2\ under sections 4d(d) and 4s(k) \3\ of
the Commodity Exchange Act (``CEA''). Commission Regulation 3.3
requires each swap dealer (``SD''), major swap participant (``MSP''),
and futures commission merchant (``FCM'') to designate, by filing Form
8-R, a chief compliance officer (``CCO'') who is responsible for: (1)
administering each registrant's policies and procedures relating to its
business as a SD, MSP, or FCM that are required to be established
pursuant to the CEA and Commission regulations; (2) taking reasonable
steps to resolve material conflicts of interest relating to the
registrant's business as a SD, MSP, or FCM; (3) taking reasonable steps
to ensure compliance with the CEA and Commission regulations relating
to the registrant's business as a SD, MSP, or FCM; (4) taking
reasonable steps to ensure the registrant establishes, maintains, and
reviews written policies and procedures reasonably designed to
remediate noncompliance issues identified by the CCO; (5) taking
reasonable steps to ensure the registrant establishes procedures
reasonably designed for the handling, management response, remediation,
retesting, and resolution of noncompliance issues; (6) preparing,
signing, certifying, furnishing to the board of directors, senior
officers, and (if applicable) audit committee, and filing with the
Commission, an annual compliance report that contains the information
specified in Commission regulation 3.3(e). Commission regulation 3.3
also requires that SDs, MSPs, and FCMs: (1) amend the annual report if
material errors or omissions are identified; (2) request that the
Commission grant an extension of time to furnish the annual report, if
failure to timely furnish could not be eliminated without unreasonable
effort or expense; and (3) maintain records of the registrant's
compliance policies and procedures and records related to the annual
report.
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\2\ 17 CFR 3.3.
\3\ 7 U.S.C. 6d(d) and 6s(k).
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The information collection obligations imposed by Commission
Regulation 3.3 are essential to ensuring that SDs, MSPs,
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and FCMs maintain comprehensive policies and procedures that promote
compliance with the CEA and Commission regulations. In particular, the
Commission believes that, among other things, these obligations (i)
promote compliance behavior through periodic self-evaluation, (ii)
inform the Commission of possible compliance weaknesses, (iii) assist
the Commission in determining whether the registrant remains in
compliance with the CEA and Commission regulations, and (iv) help the
Commission to assess whether the registrant has mechanisms in place to
adequately address compliance problems that could lead to a failure of
the registrant.
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
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 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 Commission's regulations.\4\
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\4\ 17 CFR 145.9, 74 FR 17395 (Apr. 15, 2009).
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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 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 Commission is not revising its estimate of
the burden for this collection. The number of respondents from the
previous renewal remains unchanged. There are 166 currently registered
respondents. There are no currently registered MSPs. The respondent
burden for this collection is estimated to be as follows:
Number of Registrants: 166.
Estimated Average Burden Hours per Registrant: 1,006.
Estimated Aggregate Burden Hours: 166,996.
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: April 2, 2025.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2025-05982 Filed 4-7-25; 8:45 am]
BILLING CODE 6351-01-P