2014-03788
Federal Register, Volume 79 Issue 36 (Monday, February 24, 2014)[Federal Register Volume 79, Number 36 (Monday, February 24, 2014)]
[Notices]
[Pages 10126-10128]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-03788]
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COMMODITY FUTURES TRADING COMMISSION
Agency Information Collection Activities Under OMB Review
AGENCY: Commodity Futures Trading Commission.
ACTION: Notice.
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SUMMARY: In compliance with the Paperwork Reduction Act, this notice
announces that the Information Collection Request (ICR) abstracted
below has been forwarded to the Office of Management and Budget (OMB)
for review and comment. The ICR describes the nature of the information
collection and its expected costs and burden.
DATES: Comments must be submitted on or before March 26, 2014.
ADDRESSES: Comments may be submitted to OMB within 30 days of the
notice's publication. Comments, identified by ``Part 41 Relating to
Security Futures Products (OMB Control No. 3038-0059),'' should be
mailed to the Office of Information and Regulatory Affairs, Office of
Management and Budget, Attention: Desk Officer for the Commodity
Futures Trading Commission, 725 17th Street NW., Washington, DC 20503.
Comments may be also be submitted, regarding the burden estimated
or any other aspect of the information collection, including
suggestions for reducing the burden, identified by ``Part 41 Relating
to Security Futures Products (OMB Control No. 3038-0059),'' by any of
the following methods:
Agency Web site, via its Comments Online process: http://
[[Page 10127]]
comments.cftc.gov. Follow the instructions for submitting comments
through the Web site.
Mail: Send to Melissa D. Jurgens, Secretary, Commodity
Futures Trading Commission, 1155 21st Street NW., Washington, DC 20581.
Hand Delivery/Courier: Same as Mail, above.
Federal eRulemaking Portal: http://www.regulations.gov/search/index.jsp. Follow the instructions for submitting comments.
All comments must be submitted in English, or if not, accompanied
by an English translation. Comments will be posted as received to
http://www.cftc.gov. You should submit only information that you wish
to make available publicly. If you wish the Commission to consider
information that is exempt from disclosure under the Freedom of
Information Act, a petition for confidential treatment of the exempt
information may be submitted according to the procedures set forth in
section 145.9 of the Commission's regulations.\1\
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\1\ Commission regulations referred to herein are found at 17
CFR Ch. 1 (2010). Commission regulations are accessible on the
Commission's Web site, www.cftc.gov.
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The Commission reserves the right, but shall have no obligation, to
review, pre-screen, filter, redact, refuse or remove any or all of your
submission from www.cftc.gov that it may deem to be inappropriate for
publication, such as obscene language. All submissions that have been
redacted or removed that contain comments on the merits of the
rulemaking will be retained in the public comment file and will be
considered as required under the Administrative Procedure Act and other
applicable laws, and may be accessible under the Freedom of Information
Act.
FOR FURTHER INFORMATION CONTACT: David Steinberg, Commodity Futures
Trading Commission, 202-418-5102, FAX: 202-418-5527, email:
[email protected], and refer to OMB Control No. 3038-0059. This
contact can also provide a copy of the ICR.
SUPPLEMENTARY INFORMATION:
Title: Part 41 Relating to Security Futures Products (OMB Control
No. 3038-0059). This is a request for extension of a currently approved
information collection.
Abstract: Section 4d(c) of the Commodity Exchange Act (CEA), 7
U.S.C. 6d(c), requires the Commodity Futures Trading Commission (CFTC)
to consult with the Securities and Exchange Commission (SEC) and issue
such rules, regulations, or orders as are necessary to avoid
duplicative or conflicting regulations applicable to firms that are
fully registered with the SEC as brokers or dealers (broker-dealers)
and the CFTC as futures commission merchants (FCMs) involving
provisions of the CEA that pertain to the treatment of customer funds.
The CFTC, jointly with the SEC, issued regulations requiring such
dually-registered firms to make choices as to how its customers'
transactions in security futures products (SFP) will be treated, either
as securities transactions held in a securities account or as futures
transactions held in a futures account. How an account is treated is
important in the unlikely event of the insolvency of the firm. Only
securities accounts receive insurance protection under provisions of
the Securities Investor Protection Act. By contrast, only futures
accounts are subject to the protections provided by the segregation
requirements of the CEA.
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless it displays a
currently valid OMB control number. The OMB control numbers for the
CFTC's regulations were published on December 30, 1981. See 46 FR 63035
(Dec. 30, 1981). The Federal Register notice with a 60-day comment
period soliciting comments on this collection of information was
published on December 23, 2013 (78 FR 77439).
Burden Statement: The respondent burden for this collection is
estimated to average .721 hours per response. These estimates include
the time needed to review instructions; develop, acquire, install, and
utilize technology and systems for the purposes of collecting,
validating, and verifying information, processing and maintaining
information and disclosing and providing information; adjust the
existing ways to comply with any previously applicable instructions and
requirements; train personnel to be able to respond to a collection of
information; and transmit or otherwise disclose the information.
Respondents/Affected Entities: 144.
Estimated number of responses: 2,975.
Estimated total annual burden on respondents: 2,146 hours.
Frequency of collection: On occasion.
ATTACHMENT A
Part 41--Security Futures Products
[OMB collection No. 3038-0059]
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Estimated
Estimated Reports Estimated total number
number of annually by Total annual average of hours of
respondents or each responses number of annual burden
recordkeepers respondent hours per in fiscal
per year response year
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Reporting
41.3 Application for exemption by 5 1 5 25 125
intermediaries.....................
41.23(a)(1)-(6) and 41.23(b) Listing 3 140 420 2 840
of SFPs............................
41.24(a)(1)-(5) and 41.24(b) Rule 3 8 24 2 48
amendments.........................
41.23(a)(7) and 41.24(a)(6) Requests 3 .30 .90 2 1.80
for confidential treatment.........
41.27(c) Rules prohibiting 1 1 1 2 2
exemptions.........................
41.27(e) Rules permitting exemptions 1 1 1 2 2
41.31 SFPCM designation (one time 1 1 1 5 5
only)..............................
41.32 SFPCM continuing obligations.. 3 20 60 4 240
41.33 Application for exemption by 1 1 1 40 40
SFPCM..............................
41.41 FCM/B-D disclosure............ 60 40 2,400 .25 600
41.49 Margin rule changes........... 3 .30 .90 2 1.80
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Subtotal Reporting Requirements. 84 ............. 2,914.80 ............. 1,905.60
Recordkeeping
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41.41(a)(2) Handling of customer 60 1 60 4 240
accounts...........................
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Subtotal Recordkeeping 60 1 60 4 240
Requirements...................
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TOTAL REPORTING AND 144 ............. 2,974.80 0.72 2,145.60
RECORDKEEPING..................
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Authority: 44 U.S.C. 3501 et seq.
Dated: February 18, 2014.
Christopher J. Kirkpatrick,
Deputy Secretary of the Commission.
[FR Doc. 2014-03788 Filed 2-21-14; 8:45 am]
BILLING CODE 6351-01-P