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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:
3038-0009
ICR Reference No:
202306-3038-001
Status:
Historical Inactive
Previous ICR Reference No:
202303-3038-002
Agency/Subagency:
CFTC
Agency Tracking No:
Title:
Large Trader Reports
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Comment filed on proposed rule and continue
Conclusion Date:
08/15/2023
Retrieve Notice of Action (NOA)
Date Received in OIRA:
06/27/2023
Terms of Clearance:
OMB files this comment in accordance with 5 CFR 1320.11(c). This OMB action is not an approval to conduct or sponsor an information collection under the Paperwork Reduction Act of 1995. This action has no effect on any current approvals. If OMB has assigned this ICR a new OMB Control Number, the OMB Control Number will not appear in the active inventory. For future submissions of this information collection, reference the OMB Control Number provided. Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR). The agency shall examine public comment in response to the NPRM and will describe in the supporting statement of its next collection any public comments received regarding the collection as well as why (or why it did not) incorporate the commenter’s recommendation. The next submission to OMB must include the draft final rule and information collection instrument (e.g., form).
Inventory as of this Action
Requested
Previously Approved
Expiration Date
06/30/2026
36 Months From Approved
06/30/2026
Responses
72,644
0
72,644
Time Burden (Hours)
18,512
0
18,512
Cost Burden (Dollars)
0
0
0
Abstract:
The Commission proposes to amend the regulation 17.00 reporting rules, which set out the requirement for futures commission merchants (“FCMs”), clearing members, foreign brokers, and certain reporting markets to submit daily position reports for large traders of futures and options. First, the Commission proposes to remove current regulation 17.00(g)’s 80-character record format and amend regulation 17.03(d) to delegate authority to the Director of the Office of Data and Technology to determine whether to permit or require one or more particular data standards for reports required under regulation 17.00(a). That submission standard would be published in a Part 17 Guidebook, to be published on the Commission’s website. Second, the Commission proposes adding an Appendix C to Part 17 enumerating data elements to be included in regulation 17.00(a) reports. The form and manner for reporting these data elements in proposed Appendix C would be provided in the Part 17 Guidebook.
Authorizing Statute(s):
US Code:
7 USC 1 et seq
Name of Law: Exempt Markets
US Code:
7 USC 5(b)
Name of Law: Exempt Markets
US Code:
7 USC 12a(5)
Name of Law: Exempt Markets
US Code:
7 USC 1a(11)
Name of Law: Exempt Markets
US Code:
7 USC 1a(10)
Name of Law: Exempt Markets
US Code:
7 USC 1a(14)
Name of Law: Exempt Markets
US Code:
7 USC 2(h)(7)
Name of Law: Exempt Markets
US Code:
7 USC 6a, 6c(b), 6g, 6i
Name of Law: Exempt Markets
Citations for New Statutory Requirements:
US Code: 7 USC 12a(5) Name of Law: Exempt Markets
US Code: 7 USC 1a(11) Name of Law: Exempt Markets
US Code: 7 USC 1a(10) Name of Law: Exempt Markets
US Code: 7 USC 1a(12) Name of Law: Exempt Markets
US Code: 7 USC 5(b) Name of Law: Exempt Markets
US Code: 7 USC 6a, 6c(b), 6g, 6i, Name of Law: Exempt Markets
US Code: 7 USC 1 et seq Name of Law: Exempt Markets
US Code: 7 USC 2(h)(7) Name of Law: Exempt Markets
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3038-AC22
Proposed rulemaking
88 FR 41522
06/27/2023
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
Large Trader Reports
40, 102
Identification of Special Accounts
,
Statement of Reporting Trader
Burden increases because of Program Change due to Agency Discretion:
No
Burden Increase Due to:
Burden decreases because of Program Change due to Agency Discretion:
Yes
Burden Reduction Due to:
Changing Regulations
Short Statement:
The Commission is proposing amendments to Part 17 revising the reporting requirements under regulation 17.00. The proposed amendments to Part 17 would require respondents to submit 17.00(a) reports using a modern data submission standard and would require respondents to include certain additional data elements in those reports. As a result of this review, the Commission has updated the estimated number of respondents under part 17 to 310 respondents (a decrease from the prior clearance’s estimate of 330). Based on the change from the estimate of 330 respondents in the previous renewal to an estimate of 310 respondents, the Commission proposes to revise downward the reporting burden associated with part 17 from 17,160 hours (330 respondents × 208 responses × 0.25 hours = 17,160 hours) to 16,120 hours (310 respondents × 208 responses × 0.25 hours = 16,120 hours) due to this decrease in the estimated number of respondents. Accordingly, this reduction in the estimated number of respondents yields a reduction in the overall estimate of reporting burden of 1,040 burden hours. This reduction in the estimated burden hours associated with the regulations under Part 17 of the Commission’s rules yields a corresponding reduction in the overall burden under this clearance from 18,512 hours to 17,472 hours (18,512 hours – 1,040 hours = 17,472 hours). In addition, the Commission estimates that respondents will incur total annualized Capital/Start-Up and Operation/Maintenance Costs estimated at $3,536,632, if the proposed amendments are adopted.
Annual Cost to Federal Government:
$2,062,500
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]?
No
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:
Kenny Wright 202 326-2907 kwright@ftc.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:
06/27/2023