[Federal Register: March 1, 2004 (Volume 69, Number 40)]
[Page 9598-9599]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]



Agency Information Collection Activities: Notice of Intent To
Renew Collection 3038-0055, Privacy of Consumer Financial Information

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.,

[[Page 9599]]

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 30, 2004.

ADDRESSES: Comments may be mailed to Tribue Bland, Division of Clearing
and Intermediary Oversight, U.S. Commodity Futures Trading Commission,
1155 21st Street, NW., Washington, DC 20581.

FOR FURTHER INFORMATION CONTACT: Tribue Bland, (202) 418-5466; FAX
(202) 418-5536; 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.

Privacy of Consumer Financial Information OMB Control No. 3038-0055--

    Section 124 of the Commodity Futures Modernization Act of 2000
("CFMA") amends the Commodity Exchange Act (the "Act") and adds a
new section 5g to the Act to make the Commission a Federal functional
regulator for purposes of applying the provisions of Title V, Subtitle
A of the Gramm-Leach-Bliley Act ("GLB Act") addressing consumer
privacy to any futures commission merchant, commodity trading advisor,
commodity pool operator or introducing broker that is subject to the
Commission's jurisdiction with respect to any financial activity. In
general, Title V requires financial institutions to provide notice to
consumers about the institution's privacy policies and practices, to
restrict the ability of a financial institution to share nonpublic
personal information about consumers to non-affiliated third parties,
and to permit consumers to prevent the institution from disclosing
nonpublic personal information about them to certain non-affiliated
third parties by "opting out" of that disclosure. This rule
implements the mandates of Section 124 and Title V of the GLB Act.
    The Commission estimates the burden of this collection of
information as follows:

Estimated Annual Reporting Burden

    Number of Respondents: 4,128.
    Total Annual Responses: 317,414.
    Hours per Response: .27.
    Total Annual Hours: 85,690.

    Dated: February 23, 2004.
Jean A. Webb,
Secretary of the Commission.
[FR Doc. 04-4445 Filed 2-27-04; 8:45 am]