[Federal Register: September 26, 2002 (Volume 67, Number 187)]
[Page 60641-60642]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]



Agency Information Collection Activities: Notice of Intent To
Renew Collection 3038-0048, Off-Exchange Agricultural Trade Options

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.


SUMMARY: The Commodity Futures Trading Commission (CFTC) is announcing
an opportunity for public comment on the proposed collection of certain
information by the agency. Under the Paperwork Reduction Act of 1995
(PRA), 44 U.S.C. 3501 et seq., 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 in
response to the notice. This notice solicits comments on requirements
relating to off-exchange agricultural trade options.

DATES: Comments must be submitted on or before November 25, 2002.

ADDRESSES: Comments may be mailed to Judith E. Payne, Division of
Market Oversight, U.S. Commodity Futures Trading Commission, 1155 21st
Street, NW, Washington, DC 20581.

FOR FURTHER INFORMATION CONTACT: Judith E. Payne, (202) 418-5268; FAX:
(202) 418-5527; e-mail: [email protected].

SUPPLEMENTARY INFORMATION: Under the PRA, 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(c) 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 CFTC is publishing notice of the proposed collection
of information listed below.
    With respect to the following collection of information, the CFTC
invites comments on:
    [sbull] 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;
    [sbull] 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;
    [sbull] Ways to enhance the quality, usefulness, and clarity of the
information to be collected; and
    [sbull] 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.
    Off-Exchange Agricultural Trade Options, OMB control number 3038-
    In April 1998, the CFTC removed the prohibition of off-exchange
trade options on the enumerated agricultural commodities subject to a
number of regulatory requirements 63 FR 18821 (Apr. 16, 1998).
Thereafter, the Commission streamlined the regulatory and paperwork
burdens in order to

[[Page 60642]]

increase the utility of agricultural trade options while maintaining
basic customer protections. 64 FR 68011 (Dec. 6, 1999). Based on its
experience in administering this program, the Commission is reducing
its estimates of the burden of this collection of information based on
revised assumptions of the number of firms and individuals that may
apply for registration. Responses to the collection of information are
mandatory pursuant to section 4c(b) of the Commodity Exchange Act.
    The Commission estimates the burden of this collection of
information s follows:

                                                            Estimated Annual Reporting Burden
                                                Annual  number                                           Total annual      Hours per
                    17 CFR                     of  respondents          Frequency  of response            responses         response       Total hours
17 CFR part 32...............................             360   On occasion                                       411             5.59            2,301

    There are no capital costs or operating and maintenance costs
associated with this collection.

    Dated: September 20, 2002.
Catherine D. Dixon,
Assistance Secretary of the Commission.
[FR Doc. 02-24430 Filed 9-25-02; 8:45 am]