Skip to main content
An official website of the United States government
The .gov means it's official.
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you're on a federal government site.
The site is secure.
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.
Search:
Agenda
Reg Review
ICR
This script is used to control the display of information in this page.
Display additional information by clicking on the following:
All
Brief and OIRA conclusion
Abstract/Justification
Legal Statutes
Rulemaking
FR Notices/Comments
IC List
Burden
Misc.
Common Form Info.
Certification
View Information Collection (IC) List
View Supporting Statement and Other Documents
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:
3038-0074
ICR Reference No:
202107-3038-004
Status:
Historical Active
Previous ICR Reference No:
202104-3038-001
Agency/Subagency:
CFTC
Agency Tracking No:
Title:
Core Principles and Other Requirements for Swap Execution Facilities
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Emergency
Approval Requested By:
08/31/2021
OIRA Conclusion Action:
Approved with change
Conclusion Date:
10/20/2021
Retrieve Notice of Action (NOA)
Date Received in OIRA:
07/26/2021
Terms of Clearance:
Burden clarified during review.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
04/30/2022
6 Months From Approved
05/31/2024
Responses
5,160
0
739,557
Time Burden (Hours)
8,940
0
22,200
Cost Burden (Dollars)
0
0
0
Abstract:
Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act added new section 5h to the Commodity Exchange Act (CEA) to impose requirements concerning the registration and operation of swap execution facilities (SEF), which the Commodity Futures Trading Commission (Commission) has incorporated in part 37 and other parts of its regulations. The information required to be provided under part 37 is necessary for the Commission to evaluate whether SEFs, or entities applying to become SEFs, comply with the CEA’s statutory core principle requirements and related Commission regulations in part 9, part 36, and part 37 of the Commission’s regulations and demonstrate that they meet the conditions required to be met in order to attain and/or retain their registration
Emergency Justfication:
We would like to submit a revision of an active collection (3038-0074)* due to the publication of a final rule that was published on 02/11/21 while the renewal of the collection was underway, so the revision could not be submitted at that time. Since the pre-approval had expired on 1/31/20, and the final rule for Part 37 was not published until 02/11/21, ROCIS has indicated that the revision can only be submitted as an emergency, hence this submission. *3038-0074 has recently been renewed, expiring 5/31/24.
Authorizing Statute(s):
PL:
Pub.L. 111 - 203 124 Stat. 1376 (2010)
Name of Law: Dodd-Frank Act
US Code:
7 USC 7b-3
Name of Law: CEA
Citations for New Statutory Requirements:
PL: Pub.L. 111 - 203 124 Stat 1376 (2010) Name of Law: Dodd-Frank Act
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3038-AE25
Final or interim final rulemaking
86 FR 9224
02/11/2021
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
Core Principles and Other Requirements for Swap Execution Facilities
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
5,160
739,557
0
-734,397
0
0
Annual Time Burden (Hours)
8,940
22,200
0
-13,260
0
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
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 ‘Final Rules address operational issues facing SEFs and their market participants in connection with the Commission’s regulatory requirements for a SEF’s audit trail data, financial resources, and chief compliance officer. The Rules address areas that a number of SEFs and their market participants requested relief from certain part 37 requirements that they found in practice to be operationally unworkable or unnecessarily burdensome.
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:
07/26/2021
An official website of the United States government
The .gov means it's official.
The site is secure.
