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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
3038-0069
ICR Reference No:
201110-3038-003
Status:
Historical Active
Previous ICR Reference No:
201012-3038-013
Agency/Subagency:
CFTC
Agency Tracking No:
Title:
Information Management Requirements for Derivatives Clearing Organization
Type of Information Collection:
New collection (Request for a new OMB Control Number)
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved with change
Conclusion Date:
04/18/2012
Retrieve Notice of Action (NOA)
Date Received in OIRA:
12/07/2011
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
04/30/2015
36 Months From Approved
Responses
3,072
0
0
Time Burden (Hours)
33,041
0
0
Cost Burden (Dollars)
5,834,280
0
0
Abstract:
Section 725(c) of the Dodd-Frank Act Section 5b(c)(2) of the CEA, which sets forth core principles with which a Derivatives Clearing Organization (DCO) must comply to be registered as a DCO. Under Section 5b(c)(2), as amended by the Dodd-Frank Act, Congress expressly confirmed that the Commission may adopt implementing rules and regulations pursuant to its rulemaking authority under Section 8a(5) of the CEA. The Collections are in connection with reporting and recordkeeping requirements for DCOs.
Authorizing Statute(s):
PL:
Pub.L. 111 - 203 124 Stat. 1376 (2010)
Name of Law: Dodd-Frank Act
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3038-AC98
Final or interim final rulemaking
75 FR 78185
12/15/2010
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
75 FR 78185
12/15/2010
30-day Notice:
Federal Register Citation:
Citation Date:
76 FR 69334
11/08/2011
Did the Agency receive public comments on this ICR?
Yes
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
Information Management Requirements for Derivatives Clearing Organizations.
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
3,072
0
0
3,072
0
0
Annual Time Burden (Hours)
33,041
0
0
33,041
0
0
Annual Cost Burden (Dollars)
5,834,280
0
0
5,834,280
0
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Changing Regulations
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
There is no decrease or increase this is a new submission
Annual Cost to Federal Government:
$8,797
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
No
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
Yes
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
John Nowlin 202-418-5427
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
12/07/2011
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