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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:
202012-3038-005
Status:
Historical Active
Previous ICR Reference No:
202005-3038-001
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:
01/14/2021
Retrieve Notice of Action (NOA)
Date Received in OIRA:
01/11/2021
Terms of Clearance:
burden change in ROCIS clarified during review.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
01/31/2024
36 Months From Approved
07/31/2023
Responses
7,034
0
7,000
Time Burden (Hours)
14,816
0
14,000
Cost Burden (Dollars)
0
0
0
Abstract:
The requested information is essential to the staff's review of submissions and the Commission's oversight of the self-regulatory actions of designated contract markets, swap execution facilities, derivatives clearing organizations, and swap data repositories. The Electronic Trading Risk Principles Final Rule updates and modernizes Commission requirements in response to the evolution from pit trading to electronic trading. The risk principles adopted in the Final Rule are focused on electronic trading and order routing by DCMs and market participants. The risk principles are intended to mitigate the risk of market disruption and promote market integrity in connection with the trading on DCMs. Final Commission regulation 38.251(e) requires DCMs to adopt and implement rules governing market participants subject to their jurisdiction to prevent, detect, and mitigate market disruptions or system anomalies associated with electronic trading. DCMs are required to submit any rules addressing market disruptions or system anomalies associated with electronic trading to the Commission for adoption pursuant to §40.5 or §40.6. The obligations created by the final rules are essential to promote market integrity and reduce instances of market disruptions.
Authorizing Statute(s):
US Code:
7 USC 7a-2
Name of Law: Procedures for Registered Entities, etc.
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3038-AF04
Final or interim final rulemaking
86 FR 2048
01/11/2021
Federal Register Notices & Comments
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
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
7,034
7,000
0
34
0
0
Annual Time Burden (Hours)
14,816
14,000
0
816
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:
Burden hours will increase because proposed § 38.251(e) will increase the analysis and number of filings required of DCMs in connection with the adoption and implementation of rules to prevent, detect, and mitigate market disruptions or system anomalies associated with electronic trading.
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Does this ICR request any personally identifiable information (see
OMB Circular No. A-130
for an explanation of this term)? Please consult with your agency's privacy program when making this determination.
No
Does this ICR include a form that requires a Privacy Act Statement (see
5 U.S.C. §552a(e)(3)
)? Please consult with your agency's privacy program when making this determination.
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?
No
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:
01/11/2021
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