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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:
3038-0052
ICR Reference No:
201310-3038-005
Status:
Historical Active
Previous ICR Reference No:
201309-3038-006
Agency/Subagency:
CFTC
Agency Tracking No:
Title:
Core Principles & Other Requirements for DCMs
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
09/18/2014
Retrieve Notice of Action (NOA)
Date Received in OIRA:
11/14/2013
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
09/30/2017
36 Months From Approved
10/31/2016
Responses
105
0
90
Time Burden (Hours)
8,670
0
7,920
Cost Burden (Dollars)
0
0
0
Abstract:
The Commission is finalizing new rules in an effort to prevent unauthorized usage of customer funds by FCMs (the "Customer Protection Collection"). This includes proposed modifications to existing rules respecting DCMs. Under the proposed rules, 77 FR 67866, submitted to OMB under previous reference number (ICR Ref. No. 201211-3038-003) on November 14, 2012, DCMs would be obligated to comply with additional requirements for self-regulatory organizations, including the requirement to adopt enhanced examination procedures and have examination programs reviewed by an examinations expert and having the report of such examinations expert filed with the Commission at least once every two years, which would increase recordkeeping and reporting requirements by approximately 50 burden hours to as many as 15 DCMs. The Customer Protection Collection does not otherwise alter the Form DCM attached in the November 14, 2012 submission.
Authorizing Statute(s):
US Code:
7 USC 2, 5, 6, 6c,7, 7a-2, 12a
Name of Law: CEA
Citations for New Statutory Requirements:
PL: Pub.L. 111 - 203 Sec 124 Stat 1376 (2010) Name of Law: Dodd-Frank Act
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3038-AD09
Final or interim final rulemaking
78 FR 68506
11/14/2013
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
2
IC Title
Form No.
Form Name
Enhancing Protections Afforded Customers and Customer Funds Held by Futures Commission Merchants and Derivatives Clearing Organizations
Part 38 - Designated Contract Markets
3038-0052
Form DCM (Contract Market Application or Amendment to Application for Designation)
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
105
90
0
15
0
0
Annual Time Burden (Hours)
8,670
7,920
0
750
0
0
Annual Cost Burden (Dollars)
0
0
0
0
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:
This collection retains the hourly burden of the original and subsequently amended 3038-0052 collection and includes additional 50 hourly collection time for the inclusion of swaps that will be allowed to be transacted on a DCM and for compliance with additional core principles.
Annual Cost to Federal Government:
$120,000
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:
Herminio Castro 202 418-6705 hcastro@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:
11/14/2013
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