2024-24857
[Federal Register Volume 89, Number 207 (Friday, October 25, 2024)]
[Notices]
[Pages 85174-85175]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-24857]
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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 of 1995 (PRA),
this notice announces that the Information Collection Request (ICR)
abstracted below has been forwarded to the Office of Information and
Regulatory Affairs (OIRA), of 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 November 25, 2024.
ADDRESSES: Written comments and recommendations for the proposed
information collection should be submitted within 30 days of this
notice's publication to OIRA, at https://www.reginfo.gov/public/do/PRAMain. Please find this particular information collection by
selecting ``Currently under 30-day Review--Open for Public Comments''
or by using the website's search function. Comments can be entered
electronically by clicking on the ``comment'' button next to the
information collection on the ``OIRA Information Collections Under
Review'' page, or the ``View ICR--Agency Submission'' page. A copy of
the supporting statement for the collection of information discussed
herein may be obtained by visiting https://www.reginfo.gov/public/do/PRAMain.
In addition to the submission of comments to https://Reginfo.gov as
indicated above, a copy of all comments submitted to OIRA may also be
submitted to the Commodity Futures Trading Commission (the
``Commission'' or ``CFTC'') by clicking on the ``Submit Comment'' box
next to the descriptive entry for OMB Control No. 3038-0007, at https://comments.cftc.gov/FederalRegister/PublicInfo.aspx.
Or by either of the following methods:
Mail: Christopher Kirkpatrick, Secretary of the
Commission, Commodity Futures Trading Commission, Three Lafayette
Centre, 1155 21st Street NW, Washington, DC 20581.
Delivery/Courier: Same as Mail above.
All comments must be submitted in English, or if not, accompanied
by an English translation. Comments submitted to the Commission should
include 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.\1\ The Commission reserves the right, but
shall have no obligation, to review, prescreen, filter, redact, refuse
or remove any or all of your submission from https://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 ICR 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.
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\1\ 17 CFR 145.9.
FOR FURTHER INFORMATION CONTACT: Catherine Brescia, Attorney Advisor,
Market Participants Division, Commodity Futures Trading Commission,
telephone: (202) 418-6236; email: [email protected], and refer to OMB
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Control No. 3038-0007.
SUPPLEMENTARY INFORMATION:
Title: Regulation of Domestic Exchange-Traded Options, OMB Control
Number 3038-0007. This is a request for extension of a currently
approved collection.
Abstract: Commission Regulations 33.7 and 33.8,\2\ respectively,
require futures commission merchants (FCMs) and introducing brokers
(IBs): (1) to provide retail (i.e., non-eligible contract participant)
\3\ customers with, and retain, standard risk disclosure
[[Page 85175]]
statements concerning the risk of trading certain domestic exchange-
traded commodity options; \4\ and (2) to retain all related promotional
material and the source of authority for information contained therein.
These requirements help assure that these customers are not
fraudulently induced to invest in these commodity options by persons
who misrepresent the risks of such transactions. The recordkeeping
requirements assist the Commission and the National Futures Association
(NFA) in verifying registrants' compliance with their disclosure
obligations and ensuring that related promotional material is not
fraudulent or misleading.
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\2\ 17 CFR 33.7 and 33.8.
\3\ Commission Regulation 33.7 does not require FCMs or IBs to
provide the disclosure or obtain a related acknowledgment from
institutional customers. See 17 CFR 33.7(a)(1). Commission
Regulation 1.3 provides that ``institutional customer'' has the same
meaning as ``eligible contract participant'' (``ECP'') as defined in
section 1a(18) of the Commodity Exchange Act (``CEA''). Under the
CEA, an ECP includes, for example, a financial institution, an
insurance company, and a corporation with $10 million in assets.
\4\ See Commission Regulation 33.2(b). 17 CFR 33.2(b) (providing
that Part 33 of the Commission's Regulations applies to commodity
option transactions that are options on contracts of sale of a
commodity for future delivery except for commodity option
transactions that are options on contracts of sale of a commodity
for future delivery conducted or executed on or subject to the rules
of a foreign board of trade).
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This information collection contains the third-party disclosure and
recordkeeping requirements needed to ensure regulatory compliance by
FCMs and IBs with these Commission Regulations.
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. On August 12, 2024, the Commission
published in the Federal Register notice of the proposed extension of
this information collection and provided 60 days for public comment on
the proposed extension, 89 FR 65606 (``60-Day Notice''). The Commission
did not receive any relevant comments on the 60-Day Notice.
Burden Statement: The Commission estimates the burden of this
collection of information as follows:
Estimated Number of Annual Respondents: 983.
Estimated Average Annual Burden Hours per Respondent: 34.2.
Estimated Total Annual Burden Hours: 33,619.
Frequency of Collection: On occasion.
There are no capital costs or operating and maintenance costs
associated with this collection.
(Authority: 44 U.S.C. 3501 et seq.)
Dated: October 22, 2024.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2024-24857 Filed 10-24-24; 8:45 am]
BILLING CODE 6351-01-P