2025-08154
[Federal Register Volume 90, Number 89 (Friday, May 9, 2025)]
[Notices]
[Pages 19685-19686]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-08154]
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COMMODITY FUTURES TRADING COMMISSION
Agency Information Collection Activities: Notice of Intent To
Renew Collection 3038-0070: Real-Time Public Reporting and Block Trade
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 comments 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 renewal of
an existing collection of information, and to allow 60 days for public
comment in response to the notice. This notice solicits comments on the
information collections pertaining to the Commission's real-time public
reporting and dissemination of swap data and rules for block trade
requirements. These rules impose recordkeeping and reporting
requirements on the following entities: Swap Dealers (``SDs''), Major
Swap Participants (``MSPs''), Swap Execution Facilities (``SEFs''),
designated contract markets (``DCMs''), swap data repositories
(``SDRs''), derivatives clearing organizations (``DCOs''), and swap
counterparties that are neither swap dealers nor major swap
participants (``non-SD/MSP counterparties'').
DATES: Comments must be submitted on or before July 8, 2025.
ADDRESSES: You may submit comments, identified by ``OMB Control No.
3038-0070'' 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.
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: Isabella Bergstein, Assistant Chief
Counsel, Division of Market Oversight, Commodity Futures Trading
Commission, (202) 993-1384, email: [email protected], and refer to
OMB Control No. 3038-0070.
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 revision or
[[Page 19686]]
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 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).
See also 46 FR 63035 (Dec. 30, 1981).
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Title: Real Time Public Reporting and Block Trades (OMB Control No.
3038-0070). This is a request for comment on a currently approved
information collection.
Abstract: The collection of information is needed to ensure that
swap data repositories publicly disseminate swap data as required by
the Commodity Exchange Act, as amended by the Dodd-Frank Wall Street
Reform and Consumer Protection Act (``Dodd-Frank Act''). The Dodd-Frank
Act directed the CFTC to adopt rules providing for the real-time public
reporting and dissemination of swap data and rules for block trades.
In 2020, the Commission amended part 43 by issuing the Real-Time
Public Reporting Requirements final rule (``2020 RTR Final Rule'').\2\
The 2020 RTR Final Rule revised the method and timing of real-time
reporting and public dissemination, generally and for specific types of
swaps; the delay and anonymization of the public dissemination of block
trades and large notional trades; the standardization and validation of
real-time reporting fields; the delegation of specific authority to
Commission staff; and the clarification of specific real-time reporting
questions and common issues.\3\
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\2\ Real-Time Public Reporting Requirements, 85 FR 75422 (Nov.
25, 2020).
\3\ Id.
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On June 10, 2022, the Commission staff issued a Staff Advisory on
Reporting of Errors and Omissions in Previously Reported Data
(``Advisory''),\4\ which included a form as an Appendix (``Form''). The
Advisory specifies the format and manner for submitting information
required under regulations 45.14 and 43.3(e), and accordingly amended
Information Collection 3038-0070. Subsequently, the Commission has
revised the estimated burdens associated with 3038-0070.
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\4\ CFTC Letter 22-06.
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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 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.\5\
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\5\ 17 CFR 145.9.
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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: Provisions of CFTC Regulations 43.3, 43.3(e),
43.4, and 43.6 result in information collection requirements within the
meaning of the PRA. With respect to the ongoing reporting and
recordkeeping burdens associated with swaps, the CFTC believes that
SDRs, SDs, MSPs, SEFs, DCMs, DCOs, and non-SD/MSP/DCO counterparties
incur an annual time-burden of 803,142 hours. This time-burden
represents a proportion of the burden respondents incur to operate and
maintain their swap data recordkeeping and reporting systems.
Respondents/Affected Entities: SDRs, SDs, MSPs, and other
counterparties to swap transaction (i.e., non-SD/MSP/DCO
counterparties).
Estimated Number of Respondents: 1,742.
Estimated Average Burden Hours per Respondent: 461.
Estimated Total Annual Burden Hours on Respondents: 803,142.
Frequency of Collection: Ongoing.
(Authority: 44 U.S.C. 3501 et seq.)
Dated: May 6, 2025.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2025-08154 Filed 5-8-25; 8:45 am]
BILLING CODE 6351-01-P