Agency Information Collection Activities Under OMB Review: Notice of Intent To Renew Collection 3038-0054, Establishing Procedures for Entities Operating as Exempt Markets, 75665-75666 [2010-30474]

Agencies

• Commodity Futures Trading Commission

[Federal Register Volume 75, Number 233 (Monday, December 6, 2010)]
[Notices]
[Pages 75665-75666]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-30474]


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COMMODITY FUTURES TRADING COMMISSION


Agency Information Collection Activities Under OMB Review: Notice 
of Intent To Renew Collection 3038-0054, Establishing Procedures for 
Entities Operating as Exempt Markets

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.

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SUMMARY: In compliance with the Paperwork Reduction Act (44 U.S.C. 3501 
et seq.), this notice announces that the Information Collection Request 
(ICR) abstracted below has been forwarded to the Office of Management 
and Budget (OMB) for review and comment. The ICR describes the nature 
of the information collection and the expected costs and burden.

DATES: Comments must be submitted on or before January 5, 2011.

FOR FURTHER INFORMATION CONTACT: David Van Wagner, Chief Counsel, 
Division Of Market Oversight, U.S. Commodity Futures Trading 
Commission, 1155 21st Street, NW., Washington, DC 20581, (202) 418-
5481; FAX: (202) 418-5527; e-mail: dvanwagner@cftc.gov and refer to OMB 
Control No. 3038-0054.

SUPPLEMENTARY INFORMATION:
    Title: Establishing Procedures for Entities Operating as Exempt 
Markets, OMB Control No. 3038-0054. This is a request for extension of 
a currently approved information collection.
    Abstract: Sections 2(h)(3) through (5) of the Commodity Exchange 
Act (Act) provides that exempt commercial markets (ECMs) are markets 
excluded from the Act's other requirements. The rules implement the 
qualifying conditions of the exemption. Rule 36.3(a) implements the 
notification requirements, and rule 36.3(b)(1) establishes information 
requirements for ECMs consistent with section 2(h)(5)(B) of the Act. An 
ECM may provide the Commission with access to transactions conducted on 
the facility or it can satisfy its reporting requirements by complying 
with the Commission's reporting requirements. The Act affirmatively 
vests the Commission with comprehensive anti-manipulation enforcement 
authority over these trading facilities. The Commission is charged with 
monitoring these markets for manipulation and enforcing the anti-
manipulation provisions of the Act. The informational requirements 
imposed by proposed rules are designed to ensure that the Commission 
can effectively perform these functions. Section 5d of the Act 
establishes a category of market exempt from Commission oversight 
referred to as ``exempt boards of trade'' (EBOTs). Rule 36.2 implements 
regulations that define those commodities that are eligible to trade on 
an EBOT. Rule 36.2(b) implements the notification requirements of 
section 5d of the Act. Rule 36.2(b)(1) requires EBOTs relying on this 
exemption to disclose to traders that the facility and trading on the 
facility is not regulated by the Commission. This requirement is 
necessary to make manifest the nature of the market and to avoid 
misleading the public.
    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. The OMB control numbers for the 
CFTC's regulations were published on December 30, 1981. See 46 FR 63035 
(Dec. 30, 1981). The Federal Register notice with a 60-day comment 
period soliciting comments on this collection of information was 
published on August 27, 2010 (75 FR 52731).
    Burden statement: The respondent burden for this collection is 
estimated to average 20 hours per response. These estimates include the 
time needed to review instructions; develop, acquire, install, and 
utilize technology and systems for the purposes of collecting, 
validating, and verifying information, processing and maintaining 
information and disclosing and providing information; adjust the 
existing ways to comply with any previously applicable instructions and 
requirements; train personnel to be able to respond to a collection of 
information; and transmit or otherwise disclose the information.
    Respondents/Affected Entities: 23.
    Estimated number of responses: 23.
    Estimated total annual burden on respondents: 230 hours.
    Frequency of collection: Annually.
    Send comments regarding the burden estimated or any other aspect of 
the information collection, including suggestions for reducing the 
burden, to the addresses listed below. Please refer to OMB Control No. 
3038-0054 in any correspondence.
    David P. Van Wagner, Chief Counsel, Division Of Market Oversight, 
U.S. Commodity Futures Trading Commission, 1155 21st Street, NW., 
Washington, DC 20581, and Office of Information and Regulatory Affairs, 
Office of Management and Budget,

[[Page 75666]]

Attention: Desk Officer for CFTC, 725 17th Street, Washington, DC 
20503.

David Stawick,
Secretary of the Commission.
[FR Doc. 2010-30474 Filed 12-3-10; 8:45 am]
BILLING CODE 6351-01-P