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View Information Collection (IC) List
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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:
3038-0023
ICR Reference No:
201604-3038-003
Status:
Historical Active
Previous ICR Reference No:
201412-3038-002
Agency/Subagency:
CFTC
Agency Tracking No:
Title:
Registration under the Commodity Exchange Act
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
11/30/2018
Responses
78,307
0
78,109
Time Burden (Hours)
7,525
0
7,030
Cost Burden (Dollars)
49,500
0
0
Abstract:
A. Alternative to Fingerprinting Requirement For Foreign Natural Persons: the final rule 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. The Commission published the proposal on January 12, 2016, 81 FR 1359. The Commission did not receive comments from the proposal. The Commission previously made a submission to OMB that included a consolidated supporting statement with the burden estimates for two proposals: the Alternative to Fingerprinting and the Regulation Automated Trading. As of the date of this submission to OMB, the Commission has only finalized the Alternative to Fingerprinting proposal. Therefore, the supporting statement does not include the burden estimates for the Regulation Automated Trading that would be submitted to OMB when that rulemaking is finalized. B. Commodity Pool Operators and Commodity Trading Advisors; Amendments to Compliance Obligations: This collection covers the Commodity Futures Trading Commission's data collection authority for CPO's and CTAs, that are consistent with the data collection required under Title IV of the Dodd-Frank Wall Street Reform and Consumer Protection Act, for entities registered with both the Commission and the Securities and Exchange Commission. This revision to the existing collection reflects new entrants.
Authorizing Statute(s):
US Code:
7 USC 12a
Name of Law: CEA
US Code:
7 USC 13c
Name of Law: CEA
PL:
Pub.L. 110 - 246 122 Stat., 1651, 2189-2204
Name of Law: Food Conservation and Energy Act
US Code:
7 USC 6e, 6f, 6k, 6m, 6n
Name of Law: CEA
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
60-day Notice:
Federal Register Citation:
Citation Date:
81 FR 1359
01/12/2016
30-day Notice:
Federal Register Citation:
Citation Date:
81 FR 18743
04/01/2016
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 Fingerprinting Requirement For Foreign Natural Persons
Commodity Pool Operators and Commodity Trading Advisors: Amendments to Compliance Obligations
8R, 7R
Firm Application
,
Floor Trader Order Enterer Application
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
78,307
78,109
0
198
0
0
Annual Time Burden (Hours)
7,525
7,030
0
495
0
0
Annual Cost Burden (Dollars)
49,500
0
0
49,500
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 by the Alternative to Fingerprinting Requirement final rule 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 495.0 hours (198 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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