Commodity Futures Trading Commission Agency Information Collection Activities: Notice of Intent to Renew Collection 3038-0049, Procedural Requirements for Requests for Interpretative, No-Action, and Exemptive Letters[Federal Register: May 23, 2007 (Volume 72, Number 99)]
[Notices]
[Page 28959-28960]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr23my07-50]
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COMMODITY FUTURES TRADING COMMISSION
Agency Information Collection Activities: Notice of Intent to
Renew Collection 3038-0049, Procedural Requirements for Requests for
Interpretative, No-Action, and Exemptive Letters
AGENCY: Commodity Futures Trading Commission.
ACTION: Notice.
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SUMMARY: The Commodity Futures Trading Commission (CFTC) is announcing
an opportunity for public comment on the proposed collection of certain
information by the agency. Under the Paperwork Reduction Act of 1995
(PRA), 44 U.S.C. 3501 et seq., Federal agencies are required to publish
notice in the Federal Register concerning each proposed collection of
information, including each proposed extension of an existing
collection of information, and to allow 60 days for public comment in
response to the notice. This notice solicits comments on requirements
relating to procedures for submitting requests for exemptive, no-
action, and interpretative letters.
DATES: Comments must be submitted on or before July 23, 2007.
ADDRESSES: Comments may be mailed to Christopher W. Cummings, Division
of Clearing and Intermediary Oversight, U.S. Commodity Futures Trading
Commission, 1155 21st Street, NW., Washington, DC 20581.
FOR FURTHER INFORMATION CONTACT: Christopher W. Cummings (202) 418-
5445; Fax: (202) 418-5536; e-mail: [email protected].
SUPPLEMENTARY INFORMATION: Under the PRA, Federal agencies must obtain
approval from the Office of Management and Budget (OMB) for each
collection of information they conduct or sponsor. ``Collection of
information'' is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) and
includes agency requests or requirements that members of the public
submit reports, keep records, or provide information to a third party.
Section 3506(c)(2)(A) of the PRA, 44 U.S.C. 3506(c)(2)(A), requires
Federal agencies to provide a 60-day notice in the Federal Register
concerning each proposed collection of information, including each
proposed extension of an existing collection of information, before
submitting the collection to OMB for approval. To comply with this
requirement, the CFTC is publishing notice of the proposed collection
of information listed below.
With respect to the following collection of information, the CFTC
invites comments on:
Whether the proposed collection of information is
necessary for the proper performance of the functions of the
Commission, including whether the information will have a practical
use;
The accuracy of the Commission's estimate of the burden of
the proposed collection of information, including the validity of the
methodology and assumptions used;
Ways to enhance the quality, usefulness, and clarity of
the information to be collected; and
Ways to minimize the burden of collection of information
on those who are to respond, including through the use of appropriate
automated electronic, mechanical, or other technological collection
techniques or other forms of information technology; e.g., permitting
electronic submission of responses.
Procedural Requirements for Requests for Interpretative, No-Action, and
Exemptive Letters, OMB Control Number 3038-0049--Extension
Commission Regulation 140.99 requires persons submitting requests
for exemptive, no-action, and interpretative letters to provide
specific written information, certified as to completeness and
accuracy, and to update that information to reflect material changes.
The regulation was promulgated pursuant to the Commission's rulemaking
authority contained in section 8a(5) of the Commodity Exchange Act, 7
U.S.C. 12a(5) (2000). Regulation 41.3 requires securities brokers and
dealers submitting requests for exemptive orders to provide specified
written information in support of such requests. Regulation 41.3 was
promulgated in response to the requirement in the Commodity Futures
Modernization Act of 2000 that the Commission establish procedures for
requesting such orders.
The Commission estimates the burden of this collection of
information as follows:
[[Page 28960]]
Estimated Annual Reporting Burden
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Annual
17 CFR Section number of Frequency of response Total annual Hours per Total
respondents responses response hours
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17 CFR 140.99....................... 350 On occasion........... 455 7.0 3,185
17 CFR 41.3......................... 60 On occasion........... 24 0.5 12
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There are no capital costs or operating and maintenance costs
associated with this collection.
This estimate is based on the number of requests for such letters
in the last three years. Although the burden varies with the type,
size, and complexity of the request submitted, such request may involve
analytical work and analysis, as well as the work of drafting the
request itself.
Dated: May 18, 2007.
Eileen A. Donovan,
Acting Secretary of the Commission
[FR Doc. 07-2566 Filed 5-22-07; 8:45 am]
BILLING CODE 6351-01-M
Updated May 23, 2007
Last Updated: June 29, 2007