View Information Collection Request (ICR) Package
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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:
202402-3038-002
Status:
Active
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:
Approved without change
Conclusion Date:
07/24/2024
Retrieve Notice of Action (NOA)
Date Received in OIRA:
06/03/2024
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
07/31/2027
36 Months From Approved
06/30/2026
Responses
68,484
0
72,644
Time Burden (Hours)
17,472
0
18,512
Cost Burden (Dollars)
6,035,872
0
0
Abstract:
The Commission is amending 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 is removing current regulation 17.00(g)’s 80-character record format and amending 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 will be published in a Part 17 Guidebook, to be published on the Commission’s website. Second, the Commission is 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 Appendix C will be provided in the Part 17 Guidebook.
Authorizing Statute(s):
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
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 1a(10)
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
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
Final or interim final rulemaking
89 FR 47439
06/03/2024
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
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
68,484
72,644
0
-4,160
0
0
Annual Time Burden (Hours)
17,472
18,512
0
-1,040
0
0
Annual Cost Burden (Dollars)
6,035,872
0
0
6,035,872
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 Commission is amending Part 17 to revise the reporting requirements under regulation 17.00. The 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). Accordingly, this reduction in the estimated number of respondents yields a reduction in the overall estimate of reporting burden of 1,040 burden hours. In addition, the Commission estimates that respondents will incur total annualized Capital/Start-Up and Operation/Maintenance Costs estimated at $6,035,872.
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:
06/03/2024
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