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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:
3038-0072
ICR Reference No:
201603-3038-006
Status:
Historical Active
Previous ICR Reference No:
201512-3038-015
Agency/Subagency:
CFTC
Agency Tracking No:
Title:
Registration of Swap Dealers and Major Swap Participants
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:
06/03/2016
Retrieve Notice of Action (NOA)
Date Received in OIRA:
04/01/2016
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
06/30/2019
36 Months From Approved
07/31/2018
Responses
772
0
770
Time Burden (Hours)
634
0
629
Cost Burden (Dollars)
16,225
0
15,725
Abstract:
The fingerprinting proposal generally codifies DSIO Staff Letters 12-49 and 13-29. The Commission believes the final rule, in providing certainty to market participants by way of Commission regulation, makes the commodity interest markets it oversees more liquid, competitive, and accessible by enabling foreign natural persons to demonstrate that they meet the minimum standards for fitness and competency without undue burden. The alternative to fingerprinting removes an impediment to participation in United States’ markets by certain foreign natural persons, recognizing the limitations on usefulness of fingerprints of foreign nationals while also ensuring the continued protection of market participants and the public. One of the requirements of the final rule is that those availing themselves of it submit a certification to NFA relating to the background check of the relevant foreign natural person and maintain records relating thereto pursuant to Commission regulation 3.21.
Authorizing Statute(s):
US Code:
7 USC 6s
Name of Law: CEA
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-AE16
Final or interim final rulemaking
81 FR 18743
04/01/2016
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
Alternative to Figerprinting Requirement For Foreign Natural Persons
Registration of Swap Dealers and Major Swap Participants
8-T, 3-R, 8-R, 7 - R, 7W
Individual Application
,
Individual Withdrawal
,
Changes and Corrections in Registration Information
,
Firm Application
,
Firm Withdrawal
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
772
770
0
2
0
0
Annual Time Burden (Hours)
634
629
0
5
0
0
Annual Cost Burden (Dollars)
16,225
15,725
0
500
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:
The amendment to Regulation 3.21 allows certain Commission registrants to elect to submit a certification in lieu of submitting a fingerprint card for certain foreign natural persons. The Commission estimates that the final rule will result in an aggregate burden hours increase of 5.0 hours (2 respondents X 2.5 hours/respondent).
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:
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:
04/01/2016
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