2019-07306
Federal Register, Volume 84 Issue 71 (Friday, April 12, 2019)
[Federal Register Volume 84, Number 71 (Friday, April 12, 2019)]
[Notices]
[Pages 14921-14922]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-07306]
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COMMODITY FUTURES TRADING COMMISSION
Agency Information Collection Activities: Notice of Intent To
Revise Collection Numbers 3038-0087, Reporting, Recordkeeping, and
Daily Trading Records Requirements for Swap Dealers and Major Swap
Participants
AGENCY: Commodity Futures Trading Commission.
ACTION: Notice.
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SUMMARY: The Commodity Futures Trading Commission (``CFTC'' or
``Commission'') is announcing an opportunity for public comment on the
proposed renewal of three collections of certain information by the
agency. Under the Paperwork Reduction Act (``PRA''), 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. This notice solicits comments on the collections of
information mandated by Commission regulations 23.201 through 23.205
(Reporting, Recordkeeping, and Daily Trading Records Requirements For
Swap Dealers and Major Swap Participants).
DATES: Comments must be submitted on or before June 11, 2019.
ADDRESSES: You may submit comments, identified by ``Reporting,
Recordkeeping, and Daily Trading Records Requirements for Swap Dealers
and Major Swap Participants,'' and Collection Number 3038-0087 by any
of the following methods:
The Agency's website, at http://comments.cftc.gov/. Follow
the instructions for submitting comments through the website.
Mail: Christopher Kirkpatrick, Secretary of the
Commission, Commodity Futures Trading Commission, Three Lafayette
Centre, 1155 21st Street NW, Washington, DC 20581.
Hand Delivery/Courier: Same as Mail above.
Please submit your comments using only one method.
All comments must be submitted in English, or if not, accompanied
by an English translation.
FOR FURTHER INFORMATION CONTACT: Gregory Scopino, Special Counsel,
Division of Swap Dealer and Intermediary Oversight, Commodity Futures
Trading Commission, (202) 418-5175; email: [email protected].
SUPPLEMENTARY INFORMATION: Under the PRA,\1\ 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 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. 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.
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\1\ 44 U.S.C. 3501 et seq.
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Title: Reporting, Recordkeeping, and Daily Trading Records
Requirements for Swap Dealers and Major Swap Participants (OMB Control
Nos. 3038-0087). This is a request for an extension of currently
approved information collection.
Abstract: On April 3, 2012, the Commission adopted Commission
regulations 23.201 through 23.205 (Reporting, Recordkeeping, and Daily
Trading Records Requirements For Swap Dealers and Major Swap
Participants) \2\ pursuant to sections 4s(f) \3\ and 4s(g) \4\ of the
Commodity Exchange Act (``CEA'').\5\ Commission regulations 23.201
through 23.205 require, among other things, swap
[[Page 14922]]
dealers (``SD'') \6\ and major swap participants (``MSP'') \7\ to
maintain transaction and position records of their swaps (including
daily trading records) and to maintain specified business records
(including records related to the governance and financial status of
the swap dealer or major swap participant, complaints received by such
SD or MSP and such SD or MSP's marketing and sales materials). They
also require SDs and MSPs to report certain swap transaction data to
swap data repositories, to satisfy certain real time public reporting
requirements, and to maintain records of information reported to swap
data depositories and for real time reporting purposes.\8\ The
Commission believes that the information collection obligations imposed
by Commission regulations 23.201 through 23.205 are necessary to
implement sections 4s(f) and 4s(g) of the CEA, including ensuring that
each SD and MSP maintains the required records of their business
activities and an audit trail sufficient to conduct comprehensive and
accurate trade reconstruction. 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.
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\2\ 17 CFR 23.201-23.205.
\3\ 7 U.S.C. 6s(f).
\4\ 7 U.S.C. 6s(g).
\5\ 77 FR 20128.
\6\ For the definition of SD, see section 1a(49) of the CEA and
Commission regulation 1.3. 7 U.S.C. 1a(49) and 17 CFR 1.3.
\7\ For the definitions of MSP, see section 1a(33) of the CEA
and Commission regulation 1.3. 7 U.S.C. 1a(33) and 17 CFR 1.3.
\8\ See 17 CFR 23.201-23.205.
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With respect to the 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.
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 you believe 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
established in Sec. 145.9 of the Commission's regulations.\9\
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\9\ 17 CFR 145.9.
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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 http://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 information collection request 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.
Burden Statement: The Commission is revising its estimate of the
burden for this collection to reflect the current number of respondents
and estimated burden hours. The respondent burden for this collection
is estimated to be as follows:
Number of Registrants: 103.
Estimated Average Burden Hours per Registrant: 2,096.
Estimated Aggregate Burden Hours: 215,888.
Frequency of Recordkeeping: As applicable.
(Authority: 44 U.S.C. 3501 et seq.)
Dated: April 9, 2019.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2019-07306 Filed 4-11-19; 8:45 am]
BILLING CODE 6351-01-P