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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:
3038-0093
ICR Reference No:
201203-3038-005
Status:
Historical Active
Previous ICR Reference No:
201110-3038-001
Agency/Subagency:
CFTC
Agency Tracking No:
Title:
Part 40, Provisions Common to Registered Entities
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved with change
Conclusion Date:
09/25/2012
Retrieve Notice of Action (NOA)
Date Received in OIRA:
05/21/2012
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
09/30/2015
36 Months From Approved
12/31/2014
Responses
7,000
0
70
Time Burden (Hours)
14,000
0
1,412,064
Cost Burden (Dollars)
980,000
0
197,688,960
Abstract:
The CFTC must promulgate rules that amend the process by which registered entities submit new rules, rule amendments or products to the Commission for review. The entities affected include Designated Contract Markets, Designated Clearing Organizations, Swap Execution Facilities, and Swap Data Repositories.
Authorizing Statute(s):
US Code:
7 USC 7a-2(e)
Name of Law: Procedures for Registered Entities, etc.
PL:
Pub.L. 111 - 203 124 Stat 1376 (2010)
Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
77 FR 8817
02/15/2012
30-day Notice:
Federal Register Citation:
Citation Date:
77 FR 20613
04/05/2012
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
Agency Information Collection Activities; Proposed Collection, Comment Request
Part 40, Provisions Common to Registered Entities
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
7,000
70
0
0
6,930
0
Annual Time Burden (Hours)
14,000
1,412,064
0
0
-1,398,064
0
Annual Cost Burden (Dollars)
980,000
197,688,960
0
0
-196,708,960
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Miscellaneous Actions
Burden decreases because of Program Change due to Agency Discretion:
Yes
Burden Reduction Due to:
Miscellaneous Actions
Short Statement:
Due to a calculation error in the proposed rulemaking, the estimated information collection burden in the proposed part 40 rulemaking was quoted as 8,300 hours; the estimated information collection burden should have been 22,664. Therefore, the estimated average hour burden would have been 323.771 hours.
Annual Cost to Federal Government:
$0
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:
Gail Scott 202 418-5139 gscott@cftc.gov
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:
05/21/2012
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