2020-18118
Federal Register, Volume 85 Issue 161 (Wednesday, August 19, 2020)
[Federal Register Volume 85, Number 161 (Wednesday, August 19, 2020)]
[Notices]
[Pages 51022-51023]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-18118]
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COMMODITY FUTURES TRADING COMMISSION
Agency Information Collection Activities: Notice of Intent To
Renew Collection 3038-0103, Ownership and Control Reports, Forms 102/
102S, 40/40S, and 71 (Trader and Account Identification Reports)
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 the collection 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 and to allow 60 days for public
comment. This notice solicits comments in connection with information
collection requirements under certain rules and related forms (the
``final rules'') that the Commission adopted to enhance its
identification of futures and swap market participants.
DATES: Comments must be submitted on or before October 19, 2020.
ADDRESSES: You may submit comments, identified by OMB Control No. 3038-
0103, 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 of these methods and
identify that it is for the renewal of Collection Number 3038-0103. All
comments must be submitted in English, or if not, accompanied by an
English translation. Comments will be posted as received to https://www.cftc.gov.
FOR FURTHER INFORMATION CONTACT: David Aron, Special Counsel, Division
of Market Oversight, at 202-418-6621 or [email protected], and refer to
OMB Control No 3038-0103.
SUPPLEMENTARY INFORMATION: Under the PRA, 44 U.S.C. 3501 et seq.,
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 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.
Title: Ownership and Control Reports, Forms 102/102S, 40/40S, and
71 (Trader and Account Identification Reports) (OMB Control No. 3038-
0103). This is a request for extension of a currently approved
information collection.
Abstract: The final rules \1\ created new information collection
requirements via Sec. Sec. 17.01, 18.04, 18.05, and 20.5.
Specifically, Sec. 17.01 provides for the filing of Form 102A, Form
102B and Form 71, as follows:
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\1\ See Commission, Final Rule: Ownership and Control Reports,
Forms 102/102S, 40/40S, and 71, 78 FR 69178 (November 18, 2013).
Terms used herein and not otherwise defined herein shall have the
meaning assigned to such terms in the final rules or in the
Commission's regulations.
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Pursuant to Sec. 17.01(a), futures commission merchants
(``FCMs''), clearing members, and foreign brokers shall identify new
special accounts to the Commission on Form 102A;
pursuant to Sec. 17.01(b), clearing members shall
identify volume threshold accounts to the Commission on Form 102B; and
pursuant to Sec. 17.01(c), omnibus volume threshold
account originators and omnibus reportable sub-account originators
shall identify reportable sub-accounts to the Commission on Form 71
when requested via a special call by the Commission or its designee.
Additional reporting requirements arise from Sec. 18.04, which
results in the collection of information via Form 40
[[Page 51023]]
from and regarding traders who own, hold, or control reportable
positions; volume threshold account controllers; persons who own volume
threshold accounts; reportable sub-account controllers; and persons who
own reportable sub-accounts.
Reporting requirements also arise from Sec. 20.5(a), which
requires all reporting entities to submit Form 102S for swap
counterparty or customer consolidated accounts with reportable
positions. In addition, Sec. 20.5(b) requires every person subject to
books or records under current Sec. 20.6 to complete a 40S filing
after a special call upon such person by the Commission.
In addition to the reporting requirements summarized above, Sec.
18.05 imposes recordkeeping requirements upon: (1) Traders who own,
hold, or control a reportable futures or options on futures position;
(2) volume threshold account controllers; (3) persons who own volume
threshold accounts; (4) reportable sub-account controllers; and (5)
persons who own reportable sub-accounts.
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.
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.\2\
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\2\ 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 estimates the burden of this
collection of information as follows:
Form 102A
Estimated Number of Respondents: 260.
Estimated Average Burden Hours Per Respondent: 106.
Estimated Total Annual Burden Hours: 27,560.
Form 102B
Estimated Number of Respondents: 175.
Estimated Average Burden Hours Per Respondent: 106.
Estimated Total Annual Burden Hours: 18,550.
Form 71
Estimated Number of Respondents: 762.
Estimated Average Annual Burden Hours Per Respondent: 8.
Estimated Total Annual Burden Hours: 6,096.
Form 40 (arising from Form 102A)
Estimated Number of Annual Responses: 5250.
Estimated Average Burden Per Response: 5.
Estimated Total Annual Burden Hours: 26,250.
Form 40 (arising from Form 102B and Form 71)
Estimated Number of Annual Responses: 18,920.
Estimated Average Burden Per Response: 5.
Estimated Total Annual Burden Hours: 94,600.
Form 102S
Estimated Annual Number of Respondents: 39.
Estimated Average Burden Hours Per Respondent: 106.
Estimated Total Annual Burden Hours: 4134.
Form 40S
Estimated Number of Annual Responses: 2,508.
Estimated Average Burden Per Response: 5.
Estimated Total Annual Burden Hours: 12,540.
Sec. 18.05 Recordkeeping burden
Estimated Number of Annual Responses: 53.
Estimated Average Burden Per Response: 5.
Estimated Total Annual Burden Hours: 265.
Total Burden Hours for the Collection: 189,995.
(Authority: 44 U.S.C. 3501 et seq.)
Dated: August 13, 2020.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2020-18118 Filed 8-18-20; 8:45 am]
BILLING CODE 6351-01-P