[Federal Register: February 23, 2004 (Volume 69, Number 35)]
[Page 8180-8181]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]



Agency Information Collection Activities: Notice of Intent To
Renew Collection 3038-0054, Establishing Procedures To Implement the
Notification Requirements for Entities Operating as Exempt Markets

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, and to allow 60 days for comment in response to the
notice. This notice solicits comments on requirements relating to
information collected to assist the Commission in the prevention of
market manipulation.

DATES: Comments must be submitted on or before April 23, 2004.

ADDRESSES: Comments may be mailed to Richard Shiltz, Division of Market
Oversight, U.S. Commodity Futures

[[Page 8181]]

Trading Commission, 1155 21st Street NW., Washington, DC 20581.

FOR FURTHER INFORMATION CONTACT: Richard Shiltz, (202) 418-5275; 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 Section 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:
     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
     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 of, 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 electronic, mechanical, or other technological collection
techniques or other forms of information technology; e.g., permitting
electronic submission of responses.

Establishing Procedures To Implement the Notification Requirements for
Entities Operating as Exempt Markets OMB Control No. 3038-0054--

    Sections 2(b)(3) through (5) of the Commodity Exchange Act (Act)
add exempt commercial markets as markets excluded from the Act's other
requirements. The rules implement the qualifying conditions of the
exemption. Rule 36.3(a) implements the notification requirements, and
rule 36.3(b)(1) establishes information requirements for exempt
commercial markets consistent with section 2(h)(5)(B) of the Act. An
exempt commercial market may provide the Commission with access to
transactions conducted on the facility or it can satisfy its reporting
requirements by complying with the Commission's reporting requirements.
The Act affirmatively vests the Commission with comprehensive
antimanipulation enforcement authority over these trading facilities.
The Commission is charged with monitoring these markets for
manipulation and enforcing the antimanipulation provisions of the Act.
The informational requirements imposed by proposed rules are designed
to ensure that the Commission can effectively perform these functions.
Section 5d of the Act establishes a category of market exempt from
Commission oversight referred to as an ``exempt board of trade.'' Rule
36.2 implements regulations that define those commodities that are
eligible to trade on an exempt board of trade. Rule 36.2(b) implements
the notification requirements of section 5d of the Act. Rule 36.2(b)(1)
requires exempt boards of trade relying on this exemption to disclose
to traders that the facility and trading on the facility is not
regulated by the Commission. This requirement is necessary to make
manifest the nature of the market and to avoid misleading the public.
    The Commission estimates the burden of this collection of
information as follows:

Estimated Annual Reporting Burden

    Number of Respondents: 10.
    Total Annual Responses: 10.
    Total Annual Hours: 100.

    Dated: February 17, 2004.
Jean A. Webb,
Secretary of the Commission.
[FR Doc. 04-3789 Filed 2-20-04; 8:45 am]