2025-08152
[Federal Register Volume 90, Number 89 (Friday, May 9, 2025)]
[Notices]
[Pages 19687-19688]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-08152]
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COMMODITY FUTURES TRADING COMMISSION
Agency Information Collection Activities: Notice of Intent To
Extend Collection 3038-0078: Conflicts of Interest Policies and
Procedures by Futures Commission Merchants and Introducing Brokers
AGENCY: Commodity Futures Trading Commission.
ACTION: Notice.
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SUMMARY: The Commodity Futures Trading Commission (``Commission'') 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 1.71 (Conflicts of interest policies
and procedures by futures commission merchants and introducing
brokers).
DATES: Comments must be submitted on or before July 8, 2025.
ADDRESSES: You may submit comments, identified by ``OMB Control Number
3038-0078'' 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,
(202) 418-6236, email: [email protected].
SUPPLEMENTARY INFORMATION: Under the PRA,\1\ Federal agencies must
obtain approval from the Office of Management and Budget (``OMB'') for
each collection
[[Page 19688]]
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 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.\2\
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\1\ 44 U.S.C. 3501 et seq.
\2\ 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: Conflicts of Interest Policies and Procedures by Futures
Commission Merchants and Introducing Brokers (OMB Control Nos. 3038-
0078). This is a request for an extension of a currently approved
information collection.
Abstract: On April 3, 2012, the Commission adopted Commission
regulation 1.71 (Conflicts of interest policies and procedures by
futures commission merchants and introducing brokers) \3\ pursuant to
sections 4d(c) \4\ of the Commodity Exchange Act (``CEA'').\5\
Commission regulation 1.71 generally requires that, among other things,
futures commission merchants (``FCMs'') \6\ and introducing brokers
(``IBs'') \7\ to: (1) develop conflicts of interest systems,
procedures, and disclosures; (2) adopt and implement written policies
and procedures reasonably designed to ensure compliance with their
conflicts of interest and disclosure obligations; and (3) maintain
specified records related to those requirements.\8\ The Commission
believes that the information collection obligations imposed by
Commission regulation 1.71 are essential to (i) ensuring that FCMs and
IBs develop and maintain the conflicts of interest systems, procedures
and disclosures required by the CEA, and Commission regulations, and
(ii) the effective evaluation of these registrants' actual compliance
with the CEA and Commission regulations.
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\3\ 17 CFR 1.71.
\4\ 7 U.S.C. 6d(c).
\5\ 77 FR 20198 (Apr. 3, 2012).
\6\ For the definition of FCM, see section 1a(28) of the CEA and
Commission regulation 1.3. 7 U.S.C. 1a(49) and 17 CFR 1.3.
\7\ For the definitions of IB, see section 1a(31) of the CEA and
Commission regulation 1.3. 7 U.S.C. 1a(33) and 17 CFR 1.3.
\8\ See 17 CFR 1.71.
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With respect to the collection of information, the Commission
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.\9\
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\9\ 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 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 Commission is revising its estimate of the
burden for this collection to reflect the current number of
respondents. The respondent burden for this collection is estimated to
be as follows:
Estimated Number of Respondents: 959.
Estimated Average Burden Hours per Respondent: 44.5.
Estimated Total Annual Burden Hours: 42,675.5.
Frequency of Collection: As applicable.
There are no capital costs or operating and maintenance costs
associated with this collection.
(Authority: 44 U.S.C. 3501 et seq.)
Dated: May 6, 2025.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2025-08152 Filed 5-8-25; 8:45 am]
BILLING CODE 6351-01-P