Agency Information Collection Activities Under OMB Review, 5106 [2016-01760]
[Federal Register Volume 81, Number 20 (Monday, February 1, 2016)]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-01760]
COMMODITY FUTURES TRADING COMMISSION
Agency Information Collection Activities Under OMB Review
Agency: Commodity Futures Trading Commission.
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
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 March 2, 2016.
ADDRESSES: Comments regarding the burden estimated or any other aspect
of the information collection, including suggestions for reducing the
burden, may be submitted directly to the Office of Information and
Regulatory Affairs in OMB, within 30 days of publication of the notice,
by email at OIRAsubmissions@omb.eop.gov. Please identify the comments
by OMB Control No. 3038-0089. Please provide the Commission with a copy
of all submitted comments at the address listed below. Please refer to
OMB Reference No. 3038-0089, found on http://reginfo.gov. Comments may
also be mailed to the Office of Information and Regulatory Affairs,
Office of Management and Budget, Attention: Desk Officer for the
Commodity Futures Trading Commission, 725 17th Street NW., Washington,
DC 20503, and to the Commission through its Web site at http://comments.cftc.gov. Follow the instructions for submitting comments
through the Web site.
Comments may also be mailed to: Christopher Kirkpatrick, Secretary
of the Commission, Commodity Futures Trading Commission, Three
Lafayette Centre, 1155 21st Street NW., Washington, DC 20581, or by
Hand Delivery/Courier at the same address.
A copy of the supporting statements for the collection of
information discussed above may be obtained by visiting http://
regInfo.gov. 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.
FOR FURTHER INFORMATION CONTACT: Tom Guerin, Division of Market
Oversight, Commodity Futures Trading Commission, (202) 734-4194, email:
email@example.com, and refer to OMB Control No. 3038-0089.
SUPPLEMENTARY INFORMATION: 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 Federal
Register notice with a 60-day comment period soliciting comments on
this collection of information was published on November 12, 2015 (80
Title: Swap Data Recordkeeping and Reporting Requirements: Pre-
Enactment and Transition Swaps (OMB Control No. 3038-0089). This is a
request for extension of a currently approved information collection.
Abstract: Section 723 of the Dodd-Frank Wall Street Reform and
Consumer Protection Act (``Dodd-Frank Act'') directed the Commission to
adopt rules providing for the reporting of data pertaining to swaps
entered into before the date of enactment of the Dodd-Frank Act (``pre-
enactment swaps'') and swaps entered into on or after the date of
enactment of the Dodd-Frank Act but prior to the compliance date
specified in the CFTC's final swap data reporting rules (``transition
swaps''). On May 17, 2012, the CFTC adopted regulation 46, which
imposes recordkeeping and reporting requirements relating to pre-
enactment and transition swaps. This ICR concerns the collections of
information required by 17 CFR part 46.
Commission staff estimate that approximately 30,125 entities,
including swap dealers, major swap participants, and swap
counterparties that are neither swap dealers nor major swap
participants, are affected by this ICR. The Commission did not receive
any comments regarding the burden estimate or any other aspect of this
Burden Statement: Commission staff estimate that the total annual
time burden for this ICR is 18,903 hours. Commission staff estimate
that the total annual cost for this ICR is $1,436,258. The time burden
estimate represents the annual burden that swap dealers, major swap
participants, and swap counterparties that are neither swap dealers nor
major swap participants incur to operate and maintain swap
recordkeeping and reporting systems to facilitate the recordkeeping and
reporting of pre-enactment and transition swaps. Commission staff
calculated the time burden by estimating the burden incurred by
respondents to operate and maintain swap data recordkeeping and
reporting systems and then estimating the portion of that burden
associated with pre-enactment and transition swaps. Commission staff
calculated the cost burden by multiplying the estimated time burden by
an estimated appropriate hourly wage rate of $75.98. Commission staff
derived the estimated appropriate hourly wage rate by averaging the
salaries and bonuses of relevant professions reported in the SIFMA
Report on Management & Professional Earnings in the Securities Industry
Respondents/Affected Entities: Swap dealers, Major Swap
Participants, and other counterparties to a swap transaction (i.e.,
end-user, non-swap dealer/non-major swap participant counterparties).
Estimated Number of Respondents: 30,125.
Estimated Total Annual Burden on Respondents: 18,903 hours.
Estimated Total Annual Cost: $1,436,258.
Frequency of Collection: Ongoing.
(Authority: 44 U.S.C. 3501 et seq.)
Dated: January 27, 2016.
Robert N. Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2016-01760 Filed 1-29-16; 8:45 am]
BILLING CODE 6351-01-P