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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:
3038-0095
ICR Reference No:
202105-3038-001
Status:
Active
Previous ICR Reference No:
201804-3038-008
Agency/Subagency:
CFTC
Agency Tracking No:
Title:
Large Trader Reporting for Physical Commodity Swaps
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:
07/08/2021
Retrieve Notice of Action (NOA)
Date Received in OIRA:
05/19/2021
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
07/31/2024
36 Months From Approved
07/31/2021
Responses
41,608
0
38,409
Time Burden (Hours)
65,412
0
60,382
Cost Burden (Dollars)
41,590,793
0
38,251,139
Abstract:
The Part 20 Reporting Rules for physical commodity swaps, in conjunction with the Commission’s current large trader reporting system for commodity futures and options, are used by the Commission to support its market, financial and trading abuse surveillance programs. Swaps position reports represent a critical component for the implementation of an effective surveillance-based regulatory approach that includes market, financial and trading surveillance programs.
Authorizing Statute(s):
US Code:
7 USC 5
Name of Law: Position Reports for Physical Commodity Swaps
US Code:
7 USC 6, 6a, 6c, 6f, 6g, 6t, 12a, 19
Name of Law: Position Reports for Physical Commodity Swaps
US Code:
7 USC 1, 1a, 2
Name of Law: Position Reports for Physical Commodity Swaps
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:
86 FR 11267
02/24/2021
30-day Notice:
Federal Register Citation:
Citation Date:
86 FR 27072
05/19/2021
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
Position Reports for Physical Commodity Swaps
40, 102
CFTCForm 102
,
CFTCForm 40
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
41,608
38,409
0
3,199
0
0
Annual Time Burden (Hours)
65,412
60,382
0
5,030
0
0
Annual Cost Burden (Dollars)
41,590,793
38,251,139
0
3,339,654
0
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:
No
Burden Reduction Due to:
Short Statement:
The extension is updating the total burden based on reported data. The total number of affected firms has increased from 4,824 to 5,088. The number of respondents and the time required per response directly correlates to the changes in the burden total of this collection renewal.
Annual Cost to Federal Government:
$2,000,000
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:
Thuy Dinh 202 418-5128 tdinh@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:
05/19/2021
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