[Federal Register: June 21, 2005 (Volume 70, Number 118)]
[Page 35641-35642]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]



Agency Information Collection Activities: Notification of Pending
Legal Proceedings

AGENCY: Commodity Futures Trading Commission.



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 the rule
requiring notification of pending legal proceedings pursuant to 17
C.F.R. 1.60.

DATES: Comments must be submitted on or before August 22, 2005.

ADDRESSES: Comments may be mailed to Gail B. Scott, Office of the
General Counsel, U.S. Commodity Futures Trading Commission, 1155 21st
Street, NW., Washington, DC 20581

FOR FURTHER INFORMATION CONTACT: Gail B. Scott, (202) 418-5139; FAX:
(202) 418-5524; 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 C.F.R. 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 other technological collection
techniques or other forms of information technology; e.g., permitting
electronic submission of responses.

Notification of Pending Legal Proceedings Pursuant to 17 C.F.R. 1.60,
OMB Control Number 3038-0033--Extension

    The rule is designed to assist the Commission in monitoring legal
proceedings involving the responsibilities imposed on contract markets
and their officials and futures commission merchants and their
principals by the Commodity Exchange Act, or otherwise.
    The rules require futures commission merchants and introducing
brokers: (1) To provide their customers with standard risk disclosure
statements concerning the risk of trading commodity interests; and (2)
to retain all promotional material and the source of authority for
information contained therein. The purpose of these rules is to ensure
that customers are advised of the risks of trading commodity interests
and to avoid fraud and misrepresentation. 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:

[[Page 35642]]

                                        Estimated Annual Reporting Burden
                                                   Annual number   Total annual      Hours per
                 17 CFR section                   of respondents     responses       response       Total hours
1.60............................................             235               1             .10             .10

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

    Dated: June 15, 2005.
Jean A. Webb,
Secretary of the Commission.
[FR Doc. 05-12216 Filed 6-20-05; 8:45 am]