[Federal Register: June 22, 2004 (Volume 69, Number 119)]
[Page 34655-34656]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]



Agency Information Collection Activities Under OMB Review

AGENCY: Commodity Futures Trading Commission.

[[Page 34656]]

ACTION: Notice.


SUMMARY: In compliance with the Paperwork Reduction Act (44 U.S.C. 3501
et seq.), this notice announces that the Information Collection Request
(ICR) abstracted below has been forwarded to the Office of Management
and Budget (OMB) for review and comment. The ICR describes the nature
of the information collection and its expected costs and burden.

DATES: Comments must be submitted on or before July 22, 2004.

Clearing and Intermediary Oversight, CFTC, (202) 418-5463; FAX: (202)
418-5536; email: [email protected] and refer to OMB Control No. 3038-

    Title: Rules Relating to the Operations and Activities of Commodity
Pool Operators and Commodity Trading Advisors and to Monthly Reporting
by Futures Commission Merchants, (OMB Control No. 3038-0005). This is a
request for revision of a currently approved information collection.
    Abstract: Part 4 of the Commission's Regulations set forth the
Commission's rules prescribing the disclosure of risk, the filing of
reports, and the keeping of books and records. Each CPO who is
registered or required to be registered and solicits prospective
participants in a commodity pool must, absent an exemption, deliver to
prospective participants, and file with the NFA, a Disclosure Document
containing information specified by 4.24 and 4.25 before the CPO may
accept funds or other property in exchange for participation in the
pool. CTAs also must comply with the disclosure requirements of 4.34
and 4.35 before they may enter into an agreement to direct or to guide
a client's commodity interest trading account.
    Rule 4.22 requires that CPOs who are registered or required to be
registered also must provide pool participants with an unaudited
monthly or quarterly Account Statement for the poll, and an Annual
Report for the pool that contains the net asset value of the pool and
Statements of Financial Condition, Income (Loss), Changes in Financial
Position, and Changes in Ownership Equity. Rule 4.23 for CPOs, and 4.33
for CTAs provide for the types of books and records that must be
maintained by these registrants.
    Section 133(d) requires each futures commission merchant (FCM) to
furnish to a person that controls the account of the FCM's customer
(e.g., a CTA) the same information that the FCM must furnish to the
customers. Without this data, the person controlling the account lacks
critical and timely information about the trades executed for the
client's account.
    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. The OMB control numbers for the
CFTC's regulations were published on December 30, 1981. See 46 FR 63035
(Dec. 30, 1981). The Federal Register notice with a 60-day comment
period soliciting comments on this collection of information was
published on February 23, 2004 (69 FR 8181-01).
    Burden statement: The respondent burden for this collection is
estimated to average 6.5 hours per response. These estimates include
the time needed to review instructions; develop, acquire, install, and
utilize technology and systems for the purposes of collecting,
validating, and verifying information, processing and maintaining
information and disclosing and providing information; adjust the
existing ways to comply with any previously applicable instructions and
requirements; train personnel to be able to respond to a collection of
information; and transmit or otherwise disclose the information.
    Respondents/Affected Entities: Commodity Pool Operators, Commodity
Trading Advisors, and Futures Commission Merchants.
    Estimated number of respondents: 7,200.
    Estimated total annual burden on respondents: 115,871 hours.
    Frequency of collection: On occasion, quarterly, monthly, and
    Send comments regarding the burden estimated or any other aspect of
the information collection, including suggestions for reducing the
burden, to the addresses listed below. Please refer to OMB Control No.
3038-0005 in any correspondence.
    Kevin Walek, Division of Clearing and Intermediary Oversight, U.S.
Commodity Futures Trading Commission, 1155 21st Street, NW.,
Washington, DC 20581, and Office of Information and Regulatory Affairs,
Office of Management and Budget, Attention: Desk Officer for CFTC, 725
17th Street, Washington, DC 20503.

    Dated: June 15, 2004.
Jean A. Webb,
Secretary of the Commission.
[FR Doc. 04-14010 Filed 6-21-04; 8:45 am]