[Federal Register: January 26, 2005 (Volume 70, Number 16)]
[Page 3685]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]

[[Page 3685]]



Agency Information Collection Activities: Notice of Intent To
Renew Collection 3038-0013, Exemptions From Speculative Limits

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 public comment in response to the
notice. This notice solicits comments on exemptions from speculative

DATES: Comments must be submitted on or before March 28, 2005.

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

FOR FURTHER INFORMATION CONTACT: Gary Martinaitis, (202) 418-5209; 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:
    • 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, 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 ether technological collection
techniques or other forms of information technology; e.g., permitting
electronic submission of responses.

Exemptions From Speculative Limits, OMB Control Number 3038-0013--

    Section 4a(a) of the Commodity Exchange Act (Act) allows the
Commission to set speculative limits in any commodity for future
delivery in order to prevent excessive speculation. Certain sections of
the act and/or the Commission's Regulations allow exemptions from the
speculative limits for persons using the market for hedging and, under
certain circumstances, for commodity pool operators and similar
traders. This information collection contains the recordkeeping and
reporting requirements needed to ensure regulatory compliance with
Commission rules relating to this issue.
    The Commission estimates the burden of this collection of
information as follows:

                                        Estimated Annual Reporting Burden
                                                             Reports                    Estimated
                                              Estimated   annually  by  Total annual    number of      Annual
           Regulations (17 CFR)               number of       each        responses     hours per      burden
                                             respondents   respondent                   response
Rule 1.47 and 1.48........................             7             2            14             3            42
Part 150..................................             2             1             2             3             6

    There are not capital costs or operating and maintenance costs
associated with this collection.

    Dated: January 19, 2005.
Jean A. Webb,
Secretary of the Commission.
[FR Doc. 05-1386 Filed 1-25-05; 8:45 am]