2025-02307
[Federal Register Volume 90, Number 24 (Thursday, February 6, 2025)]
[Notices]
[Pages 9075-9077]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-02307]
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COMMODITY FUTURES TRADING COMMISSION
Agency Information Collection Activities: Notice of Intent To
Renew Collection 3038-0084: Regulations Establishing and Governing the
Duties of Swap Dealers and Major Swap Participants
AGENCY: Commodity Futures Trading Commission.
ACTION: Notice.
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SUMMARY: The Commodity Futures Trading Commission (``Commission'' or
[[Page 9076]]
``CFTC'') is announcing an opportunity for public comments on the
proposed renewal of a 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, including each proposed renewal of
an existing collection of information, and to allow 60 days for public
comment in response to the notice. This notice solicits comments on the
collection of information mandated by Commission regulations 23.600
(Risk Management Program for Swap Dealers and Major Swap Participants),
23.601 (Monitoring of Position Limits), 23.602 (Diligent Supervision),
23.603 (Business Continuity and Disaster Recovery), 23.606 (General
Information: Availability for Disclosure and Inspection), and 23.607
(Antitrust Considerations).
DATES: Comments must be submitted on or before April 7, 2025.
ADDRESSES: You may submit comments, identified by ``OMB Control No.
3038-0084'' by any of the following methods:
The CFTC Website, at https://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.
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. Comments will be posted as received to https://www.cftc.gov.
FOR FURTHER INFORMATION CONTACT: Catherine Brescia, Attorney Advisor,
Market Participants Division, Commodity Futures Trading Commission,
Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581;
(202) 418-6236; email: cbrescia@cftc.gov.
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, including each proposed renewal of an existing collection
of information, before submitting the collection to OMB for approval.
To comply with this requirement, the Commission is publishing a notice
of the proposed renewal of the existing 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.\1\
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\1\ 44 U.S.C. 3512, 5 CFR 1320.5(b)(2)(i) and 1320.8(b)(3)(vi).
See also 46 FR 63035 (Dec. 30, 1981).
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Title: Regulations Establishing and Governing the Duties of Swap
Dealers and Major Swap Participants, OMB Control Number 3038-0084. This
is a request for a renewal of a currently approved information
collection.
Abstract: On April 3, 2012,\2\ the Commission adopted Commission
regulations 23.600 (Risk Management Program for Swap Dealers and Major
Swap Participants), 23.601 (Monitoring of Position Limits), 23.602
(Diligent Supervision), 23.603 (Business Continuity and Disaster
Recovery), 23.606 (General Information: Availability for Disclosure and
Inspection), and 23.607 (Antitrust Considerations) \3\ pursuant to
section 4s(j) \4\ of the Commodity Exchange Act (CEA). The above
regulations adopted by the Commission require, among other things, swap
dealers (SDs) \5\ and major swap participants (MSPs) \6\ to: (1)
develop robust and professional risk management systems adequate for
managing the day-to-day business of the SD or MSP; (2) monitor its
trading in swaps to prevent violations of applicable position limits;
(3) disclose to the Commission and to the prudential regulator for the
SD or MSP, as applicable, information concerning (A) terms and
condition of its swaps, (B) swap trading operations, mechanisms, and
practices, (C) financial integrity protections relating to swaps, and
(D) other information relevant to its trading in swaps; and (4)
establish and enforce internal systems and procedures to obtain any
necessary information needed to perform their duties and to provide
such information to the Commission and any applicable prudential
regulator. The Commission believes that the information collection
obligations imposed by the above regulations are essential to ensuring
that SDs and MSPs maintain adequate and effective risk management.
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\2\ 77 FR 20128 (Apr. 3, 2012).
\3\ 17 CFR 23.600, 23.601, 23.602, 23.603, 23.606, and 23.607.
\4\ 7 U.S.C. 6s(j).
\5\ 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.
\6\ 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.
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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 using 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 for the Commission to consider information that
you believe is exempt from disclosure under the Freedom of Information
Act (``FOIA''), a petition for confidential treatment of the exempt
information may be submitted according to the procedures established in
Section 145.9 of the Commission's regulations.\7\
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\7\ 17 CFR 145.9, 74 FR 17395 (Apr. 15, 2009).
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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 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 Information Collection Requirement 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 FOIA.
Burden Statement: The Commission is revising its burden estimate
for this collection to reflect the current number of respondents and
the current number of estimated burden hours.\8\ The
[[Page 9077]]
respondents' burden for this collection is estimated to be as follows:
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\8\ There was a separation of functions that resulted in a
change of estimated burden hours per respondent. The estimated
average burden hours increased from 1,148.5 to 1,149.5. In the prior
renewal, two functions were combined and used for calculating the
estimated burden hours. Separating these functions resulted in an
adjustment to burden hours.
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Estimated Number of Respondents: 106.
Estimated Average Burden Hours per Respondent: 1,149.5 hours.
Estimated Total Annual Burden Hours: 121,847 hours.
Frequency of Collection: As applicable.
There are no capital costs or operating and maintenance costs
associated with this collection.
(Authority: 44 U.S.C. 3501 et seq.)
Dated: February 3, 2025.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2025-02307 Filed 2-5-25; 8:45 am]
BILLING CODE 6351-01-P