Agency Information Collection Activities: Notice of Intent To Renew Collection 3038-0067, Part 162 Subpart C-Identify Theft Red Flags, 35001-35003 [2016-12858]

Download as PDF Federal Register / Vol. 81, No. 105 / Wednesday, June 1, 2016 / Notices The Federal Government is responsible for the management of the Pacific halibut sport fishery off Alaska, while the State of Alaska manages the salmon sport fisheries (Chinook, coho, sockeye, chum, and pink), as well as several other saltwater sport fisheries. The updated survey’s scope covers marine sport fishing for Pacific halibut, salmon, and other popular marine sport species in Alaska (e.g., lingcod and rockfish). The data collected from the survey will be used to update estimates of the demand for and value of marine fishing to anglers and to analyze how the type of fish caught, fishery regulations, and other factors affect fishing values and anglers’ decisions to participate in Alaska marine fishing activities. The economic information provided from the survey will help inform fishery managers about the economic values of Alaska marine sport fisheries and the changes to participation in these fisheries with proposed regulations. sradovich on DSK3TPTVN1PROD with NOTICES II. Method of Collection Data will be collected through a mixed mode mail-telephone survey. A random sample of sport anglers who have fished in Alaska will receive an advance letter informing them that a survey is on its way. A few days later the initial questionnaire will arrive. In subsequent weeks, a reminder postcard, a reminder telephone call, and a second questionnaire will be mailed to respondents who have not completed and returned the mail survey. The reminder telephone calls will collect information from individuals who have not responded to the mail survey and encourage them to complete and return the survey. III. Data OMB Control Number: 0648–0639. Form Number(s): None. Type of Review: Regular (reinstatement with changes). Affected Public: Individuals or households. Estimated Number of Respondents: 3,000. Estimated Time per Response: 30 minutes. Estimated Total Annual Burden Hours: 1,500 hours. Estimated Total Annual Cost to Public: $0 in recordkeeping/reporting costs. IV. Request for Comments Comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have VerDate Sep<11>2014 21:59 May 31, 2016 Jkt 238001 practical utility; (b) the accuracy of the agency’s estimate of the burden (including hours and cost) of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval of this information collection; they also will become a matter of public record. Dated: May 26, 2016. Sarah Brabson, NOAA PRA Clearance Officer. [FR Doc. 2016–12808 Filed 5–31–16; 8:45 am] BILLING CODE 3510–22–P COMMODITY FUTURES TRADING COMMISSION Agency Information Collection Activities: Notice of Intent To Renew Collection 3038–0067, Part 162 Subpart C—Identify Theft Red Flags Commodity Futures Trading Commission. ACTION: Notice. AGENCY: The Commodity Futures Trading Commission (‘‘CFTC’’ or ‘‘Commission’’) is announcing an opportunity for public comment 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 extension of an existing collection of information, and to allow 60 days for public comment. This notice solicits comments on the duties of CFTC registrants to design, develop and implement reasonable policies and procedures to identify relevant red flags (the ‘‘Identity Theft Red Flags Rules’’), and potentially to notify cardholders of identity theft risks. Regulations in part 162 subpart C—Identify Theft Red Flags, including the information collection requirements thereunder, are designed to better protect investors from the risks of identity theft, and, in the case of entities that issue credit or debit cards, to assess the validity of, and communicate with cardholders regarding, address changes. SUMMARY: PO 00000 Frm 00033 Fmt 4703 Sfmt 4703 35001 Comments must be submitted on or before August 1, 2016. ADDRESSES: You may submit comments, identified by ‘‘Part 162 Subpart C— Identify Theft Red Flags; OMB Control No. 3038–0067,’’ by any of the following methods: • The Agency’s Web site, at http:// comments.cftc.gov/. Follow the instructions for submitting comments through the Web site. • 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. • Federal eRulemaking Portal: http:// www.regulations.gov/. Follow the instructions for submitting comments through the Portal. 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 http:// www.cftc.gov. DATES: Sue McDonough, Office of General Counsel, Commodity Futures Trading Commission, 1155 21st Street NW., Washington, DC 20581; (202) 418–5132, email: smcdonough@cftc.gov. SUPPLEMENTARY INFORMATION: Under the PRA, 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. Title: Part 162 Subpart C—Identify Theft Red Flags (OMB Control No. 3038–0067). This is a request for extension of a currently approved information collection. Abstract: This collection of information is needed because under part 162 subpart C—Identify Theft, CFTC-regulated entities are required to develop and implement reasonable policies and procedures to identify, FOR FURTHER INFORMATION CONTACT: E:\FR\FM\01JNN1.SGM 01JNN1 sradovich on DSK3TPTVN1PROD with NOTICES 35002 Federal Register / Vol. 81, No. 105 / Wednesday, June 1, 2016 / Notices detect, and respond to relevant red flags (the Identity Theft Red Flags Rules) and, in the case of entities that issue credit or debit cards, to assess the validity of, and communicate with cardholders regarding, address changes. Section 162.30 includes the following information collection requirements for each CFTC-regulated entity that qualifies as a ‘‘financial institution’’ or ‘‘creditor’’ under and that offers or maintains covered accounts: (i) Creation and periodic updating of an identity theft prevention program (‘‘Program’’) that is approved by the board of directors, an appropriate committee thereof, or a designated senior management employee; (ii) periodic staff reporting to the board of directors on compliance with the Identity Theft Red Flags Rules and related guidelines; and (iii) training of staff to implement the Program. Section 162.32 includes the following information collection requirements for each CFTC-regulated entity that is a credit or debit card issuer: (i) Establishment of policies and procedures that assess the validity of a change of address notification if a request for an additional or replacement card on the account follows soon after the address change; and (ii) notification of a cardholder, before issuance of an additional or replacement card, at the previous address or through some other previously agreed-upon form of communication, or alternatively, assessment of the validity of the address change request through the entity’s established policies and procedures. The Commission uses the collection of information to discharge its regulatory responsibilities to protect investors from the risks of identity theft. 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 CFTC, including whether the information will have a practical use; • The accuracy of the CFTC’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. VerDate Sep<11>2014 21:59 May 31, 2016 Jkt 238001 You should submit only information that you wish to make available publicly. If you wish the CFTC 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 § 145.9 of the CFTC’s regulations.1 The CFTC reserves the right, but shall have no obligation, to review, prescreen, 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 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. Burden Statement: CFTC staff estimates of the hour burdens associated with section 162.30 include the onetime burden of complying with this section for newly-formed CFTCregulated entities, as well as the ongoing costs of compliance for all CFTCregulated entities. With respect to the one-time burden hours, staff estimates that each newly-formed financial institution or creditor would incur a burden of 2 hours to conduct an initial assessment of covered accounts. Staff estimates that approximately 572 CFTCregulated financial institutions and creditors are newly formed each year, and the total estimated one-time burden to initially assess covered accounts is therefore 1,144 hours. Staff also estimates that each financial institution or creditor that maintains covered accounts would incur an additional initial burden of 29 hours to develop and obtain board approval of a Program and hours to train the staff of the financial institution or creditor. Staff estimates that approximately 47 2 CFTC1 17 CFR 145.9. on a review of new registrations typically filed with the CFTC each year, CFTC staff estimates that approximately 6 futures commission merchants (‘‘FCMs’’), 83 introducing brokers (‘‘IBs’’), 282 commodity trading advisors (‘‘CTAs’’), 198 commodity pool operators (‘‘CPOs’’), and 3 swap dealers (‘‘SDs’’) are newly formed each year, for a total of 572 entities. CFTC staff also has observed that approximately 50 percent of all CPOs are dually registered as CTAs, thus half of the 198 CPOs or 99 CPOs are excluded from the calculation. With respect to retail forex dealers (‘‘RFEDs’’), CFTC staff has observed that all entities registering as RFEDs also register as FCMs. Based on these observation, CFTC has determined that the total number of newly-formed financial institutions and creditors is 473 (572–99 CPOs that are also registered as CTAs). There were no newly registered RFEDs or MSPs. 2 Based PO 00000 Frm 00034 Fmt 4703 Sfmt 4703 regulated financial institutions and creditors that maintain covered accounts are newly formed each year, and thus the total estimated one-time burden to develop and obtain board approval of a Program and train staff is 1,363 hours. Thus, the total initial estimated burden for all newly-formed CFTC-regulated entities is 2,507 hours (1,144 hours + 1,363 hours). With respect to ongoing annual burden hours, CFTC staff estimates that each financial institution or creditor would incur a burden of 2 hours to periodically assess whether it offers or maintains covered accounts. Staff estimates that there are approximately 3,956 CFTC-regulated entities that are either financial institutions or creditors, and the total estimated annual burden to periodically assess covered accounts is therefore 7,912 hours. Staff also estimates that each financial institution or creditor that maintains covered accounts would incur an additional annual burden of 4 hours to prepare and present an annual report to the board and 2 hours to periodically review and update the Program. Staff estimates that there are approximately 47 CFTCregulated entities that are financial institutions or creditors that offer or maintain covered accounts, and thus the total estimated additional annual burden for these entities is 282 hours. Thus, the total ongoing annual estimated burden for all CFTC-regulated entities is 8,194 hours (7912 hours + 282 hours). The collections of information required by section 162.32 will apply only to CFTC-regulated entities that issue credit or debit cards. CFTC staff understands that CFTC-regulated entities generally do not issue credit or debit cards, but instead may partner with other entities, such as banks, that issue cards on their behalf. These other entities, which are not regulated by the CFTC, are already subject to substantially similar change of address obligations pursuant to other federal regulators’ identity theft red flags rules. Therefore, staff does not expect that any CFTC-regulated entities will be subject to the information collection requirements of section 163.32, and Each of these 473 financial institutions or creditors would bear the initial one-time burden of compliance. Of the total 473 newly-formed entities, staff estimates that all of the FCMs are likely to carry covered accounts, 10 percent of CTAs and CPOs are likely to carry covered accounts, and none of the IBs are likely to carry covered accounts, for a total of 44 newly-formed financial institutions or creditors (6 FCMs, 38 CPOS and CTAs, and 3 SDs) carrying covered accounts that would be required to conduct an initial one-time burden of compliance with subpart C of part 162. E:\FR\FM\01JNN1.SGM 01JNN1 Federal Register / Vol. 81, No. 105 / Wednesday, June 1, 2016 / Notices accordingly, staff estimates that there is no hour burden related to section 162.32 for CFTC-regulated entities. In total, CFTC staff estimates that the aggregate annual information collection burden of part 162 subpart C—Identity Theft is 10,701 hours (2,507 hours + 8,194 hours). Compliance with part 162 subpart C—Identity Theft, including compliance with the information collection requirements thereunder, is mandatory for each CFTC regulated entity that qualifies as a ‘‘financial institution’’ or ‘‘creditor’’ under Part 162 Subpart C—Identity Theft (as discussed above, certain collections of information under Part 162 Subpart C—Identity Theft are mandatory only for financial institutions or creditors that offer or maintain covered accounts). Frequency of collection: Ongoing. There are no capital costs or operating and maintenance costs associated with this collection. Authority: 44 U.S.C. 3501 et seq. Dated: May 26, 2016. Robert N. Sidman, Deputy Secretary of the Commission. [FR Doc. 2016–12858 Filed 5–31–16; 8:45 am] BILLING CODE 6351–01–P DEPARTMENT OF DEFENSE Office of the Secretary [Docket ID: DoD–2015–OS–0097] Submission for OMB Review; Comment Request ACTION: Notice. The Department of Defense has submitted to OMB for clearance, the following proposal for collection of information under the provisions of the Paperwork Reduction Act. DATES: Consideration will be given to all comments received by July 1, 2016. FOR FURTHER INFORMATION CONTACT: Fred Licari, 571–372–0493. SUPPLEMENTARY INFORMATION: Title, Associated Form and OMB Number: Collection of Required Data Elements to Verify Eligibility; OMB Control Number 0704–0545. Type of Request: Extension Number of Respondents: 1,000,000. Responses per Respondent: 1. Annual Responses: 1,000,000. Average Burden per Response: 5 minutes. Annual Burden Hours: 83,333. Needs and Uses: The information collection requirement is necessary for the Government to verify whether or not an individual was impacted by the OPM sradovich on DSK3TPTVN1PROD with NOTICES SUMMARY: VerDate Sep<11>2014 21:59 May 31, 2016 Jkt 238001 cybersecurity incident involving background investigation records and to send a letter confirming status as ‘‘impacted’’ or ‘‘not impacted’’ by this incident. Once the minimally required information has been input into the OPM secure portal, it will be compared to an electronic master file and verification will be accomplished electronically. After the Government has validated the individual’s status, the DoD Defense Manpower Data Center (DMDC) will generate and mail a response letter. This letter will either confirm eligibility and contain a PIN for impacted individuals, or confirm that the individual was not impacted by this cybersecurity incident. Affected Public: Individuals or households. Frequency: On occasion. Respondent’s Obligation: Required to obtain or retain benefits. OMB Desk Officer: Ms. Jasmeet Seehra. Comments and recommendations on the proposed information collection should be emailed to Ms. Jasmeet Seehra, DoD Desk Officer, at Oira_submission@omb.eop.gov. Please identify the proposed information collection by DoD Desk Officer and the Docket ID number and title of the information collection. You may also submit comments and recommendations, identified by Docket ID number and title, by the following method: • Federal eRulemaking Portal: http:// www.regulations.gov. Follow the instructions for submitting comments. Instructions: All submissions received must include the agency name, Docket ID number and title for this Federal Register document. The general policy for comments and other submissions from members of the public is to make these submissions available for public viewing on the Internet at http:// www.regulations.gov as they are received without change, including any personal identifiers or contact information. DoD Clearance Officer: Mr. Frederick Licari. Written requests for copies of the information collection proposal should be sent to Mr. Licari at WHS/ESD Directives Division, 4800 Mark Center Drive, East Tower, Suite 02G09, Alexandria, VA 22350–3100. Dated: May 26, 2016. Aaron Siegel, Alternate OSD Federal Register Liaison Officer, Department of Defense. [FR Doc. 2016–12855 Filed 5–31–16; 8:45 am] BILLING CODE 5001–06–P PO 00000 Frm 00035 Fmt 4703 Sfmt 4703 35003 DEPARTMENT OF EDUCATION Privacy Act of 1974; Computer Matching Program Between the Department of Education and the Department of Veterans Affairs Department of Education. Notice. AGENCY: ACTION: This document provides notice of the continuation of the computer matching program between the Department of Education (ED) (recipient agency) and the Department of Veterans Affairs (VA) (source agency). The continuation is effective on the date in paragraph 5 of this notice. SUPPLEMENTARY INFORMATION: In accordance with the Privacy Act of 1974, as amended (5 U.S.C. 552a), the following information is provided: 1. Names of Participating Agencies. ED and VA. 2. Purpose of the Match. The purpose of this matching program is to assist the Secretary of Education with verification of a veteran’s status during the review of applications for financial assistance under title IV of the Higher Education Act of 1965, as amended (HEA). The Secretary of Education is authorized by the HEA to administer the title IV programs and to enforce the terms and conditions of the HEA. Section 480(c)(1) of the HEA defines the term ‘‘veteran’’ to mean ‘‘any individual who (A) has engaged in the active duty in the United States Army, Navy, Air Force, Marines, or Coast Guard; and (B) was released under a condition other than dishonorable.’’ (20 U.S.C. 1087vv(c)(1)). Under section 480(d)(1)(D) of the HEA, an applicant who is a veteran (as defined in section 480(c)(1)) is considered an independent student for purposes of title IV, HEA program assistance eligibility, and therefore does not have to provide parental income and asset information to apply for title IV, HEA program assistance. (20 U.S.C. 1087vv(d)(1)(D)). 3. Authority for Conducting the Matching Program. ED is authorized to participate in the matching program under sections 480(c)(1) and 480(d)(1)(D) of the HEA (20 U.S.C. 1087vv(c)(1) and (d)(1)(D)). VA is authorized to participate in the matching program under 38 U.S.C. 523. 4. Categories of Records and Individuals Covered by the Match. ED will provide the Social Security number and other identifying information of each applicant for financial assistance under title IV of the HEA who indicates veteran status. This information will be disclosed from the SUMMARY: E:\FR\FM\01JNN1.SGM 01JNN1

Agencies

[Federal Register Volume 81, Number 105 (Wednesday, June 1, 2016)]
[Notices]
[Pages 35001-35003]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-12858]


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COMMODITY FUTURES TRADING COMMISSION


Agency Information Collection Activities: Notice of Intent To 
Renew Collection 3038-0067, Part 162 Subpart C--Identify Theft Red 
Flags

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: The Commodity Futures Trading Commission (``CFTC'' or 
``Commission'') is announcing an opportunity for public comment 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 extension 
of an existing collection of information, and to allow 60 days for 
public comment. This notice solicits comments on the duties of CFTC 
registrants to design, develop and implement reasonable policies and 
procedures to identify relevant red flags (the ``Identity Theft Red 
Flags Rules''), and potentially to notify cardholders of identity theft 
risks. Regulations in part 162 subpart C--Identify Theft Red Flags, 
including the information collection requirements thereunder, are 
designed to better protect investors from the risks of identity theft, 
and, in the case of entities that issue credit or debit cards, to 
assess the validity of, and communicate with cardholders regarding, 
address changes.

DATES: Comments must be submitted on or before August 1, 2016.

ADDRESSES: You may submit comments, identified by ``Part 162 Subpart 
C--Identify Theft Red Flags; OMB Control No. 3038-0067,'' by any of the 
following methods:
     The Agency's Web site, at http://comments.cftc.gov/. 
Follow the instructions for submitting comments through the Web site.
     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.
     Federal eRulemaking Portal: http://www.regulations.gov/. 
Follow the instructions for submitting comments through the Portal.
    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 
http://www.cftc.gov.

FOR FURTHER INFORMATION CONTACT: Sue McDonough, Office of General 
Counsel, Commodity Futures Trading Commission, 1155 21st Street NW., 
Washington, DC 20581; (202) 418-5132, email: smcdonough@cftc.gov.

SUPPLEMENTARY INFORMATION: Under the PRA, 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.
    Title: Part 162 Subpart C--Identify Theft Red Flags (OMB Control 
No. 3038-0067). This is a request for extension of a currently approved 
information collection.
    Abstract: This collection of information is needed because under 
part 162 subpart C--Identify Theft, CFTC-regulated entities are 
required to develop and implement reasonable policies and procedures to 
identify,

[[Page 35002]]

detect, and respond to relevant red flags (the Identity Theft Red Flags 
Rules) and, in the case of entities that issue credit or debit cards, 
to assess the validity of, and communicate with cardholders regarding, 
address changes. Section 162.30 includes the following information 
collection requirements for each CFTC-regulated entity that qualifies 
as a ``financial institution'' or ``creditor'' under and that offers or 
maintains covered accounts: (i) Creation and periodic updating of an 
identity theft prevention program (``Program'') that is approved by the 
board of directors, an appropriate committee thereof, or a designated 
senior management employee; (ii) periodic staff reporting to the board 
of directors on compliance with the Identity Theft Red Flags Rules and 
related guidelines; and (iii) training of staff to implement the 
Program. Section 162.32 includes the following information collection 
requirements for each CFTC-regulated entity that is a credit or debit 
card issuer: (i) Establishment of policies and procedures that assess 
the validity of a change of address notification if a request for an 
additional or replacement card on the account follows soon after the 
address change; and (ii) notification of a cardholder, before issuance 
of an additional or replacement card, at the previous address or 
through some other previously agreed-upon form of communication, or 
alternatively, assessment of the validity of the address change request 
through the entity's established policies and procedures. The 
Commission uses the collection of information to discharge its 
regulatory responsibilities to protect investors from the risks of 
identity theft.
    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 CFTC, 
including whether the information will have a practical use;
     The accuracy of the CFTC'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 CFTC 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 
CFTC's regulations.\1\
---------------------------------------------------------------------------

    \1\ 17 CFR 145.9.
---------------------------------------------------------------------------

    The CFTC 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 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.
    Burden Statement: CFTC staff estimates of the hour burdens 
associated with section 162.30 include the one-time burden of complying 
with this section for newly-formed CFTC-regulated entities, as well as 
the ongoing costs of compliance for all CFTC-regulated entities. With 
respect to the one-time burden hours, staff estimates that each newly-
formed financial institution or creditor would incur a burden of 2 
hours to conduct an initial assessment of covered accounts. Staff 
estimates that approximately 572 CFTC-regulated financial institutions 
and creditors are newly formed each year, and the total estimated one-
time burden to initially assess covered accounts is therefore 1,144 
hours. Staff also estimates that each financial institution or creditor 
that maintains covered accounts would incur an additional initial 
burden of 29 hours to develop and obtain board approval of a Program 
and hours to train the staff of the financial institution or creditor. 
Staff estimates that approximately 47 \2\ CFTC-regulated financial 
institutions and creditors that maintain covered accounts are newly 
formed each year, and thus the total estimated one-time burden to 
develop and obtain board approval of a Program and train staff is 1,363 
hours. Thus, the total initial estimated burden for all newly-formed 
CFTC-regulated entities is 2,507 hours (1,144 hours + 1,363 hours).
---------------------------------------------------------------------------

    \2\ Based on a review of new registrations typically filed with 
the CFTC each year, CFTC staff estimates that approximately 6 
futures commission merchants (``FCMs''), 83 introducing brokers 
(``IBs''), 282 commodity trading advisors (``CTAs''), 198 commodity 
pool operators (``CPOs''), and 3 swap dealers (``SDs'') are newly 
formed each year, for a total of 572 entities. CFTC staff also has 
observed that approximately 50 percent of all CPOs are dually 
registered as CTAs, thus half of the 198 CPOs or 99 CPOs are 
excluded from the calculation. With respect to retail forex dealers 
(``RFEDs''), CFTC staff has observed that all entities registering 
as RFEDs also register as FCMs. Based on these observation, CFTC has 
determined that the total number of newly-formed financial 
institutions and creditors is 473 (572-99 CPOs that are also 
registered as CTAs). There were no newly registered RFEDs or MSPs. 
Each of these 473 financial institutions or creditors would bear the 
initial one-time burden of compliance.
    Of the total 473 newly-formed entities, staff estimates that all 
of the FCMs are likely to carry covered accounts, 10 percent of CTAs 
and CPOs are likely to carry covered accounts, and none of the IBs 
are likely to carry covered accounts, for a total of 44 newly-formed 
financial institutions or creditors (6 FCMs, 38 CPOS and CTAs, and 3 
SDs) carrying covered accounts that would be required to conduct an 
initial one-time burden of compliance with subpart C of part 162.
---------------------------------------------------------------------------

    With respect to ongoing annual burden hours, CFTC staff estimates 
that each financial institution or creditor would incur a burden of 2 
hours to periodically assess whether it offers or maintains covered 
accounts. Staff estimates that there are approximately 3,956 CFTC-
regulated entities that are either financial institutions or creditors, 
and the total estimated annual burden to periodically assess covered 
accounts is therefore 7,912 hours. Staff also estimates that each 
financial institution or creditor that maintains covered accounts would 
incur an additional annual burden of 4 hours to prepare and present an 
annual report to the board and 2 hours to periodically review and 
update the Program. Staff estimates that there are approximately 47 
CFTC-regulated entities that are financial institutions or creditors 
that offer or maintain covered accounts, and thus the total estimated 
additional annual burden for these entities is 282 hours. Thus, the 
total ongoing annual estimated burden for all CFTC-regulated entities 
is 8,194 hours (7912 hours + 282 hours).
    The collections of information required by section 162.32 will 
apply only to CFTC-regulated entities that issue credit or debit cards. 
CFTC staff understands that CFTC-regulated entities generally do not 
issue credit or debit cards, but instead may partner with other 
entities, such as banks, that issue cards on their behalf. These other 
entities, which are not regulated by the CFTC, are already subject to 
substantially similar change of address obligations pursuant to other 
federal regulators' identity theft red flags rules. Therefore, staff 
does not expect that any CFTC-regulated entities will be subject to the 
information collection requirements of section 163.32, and

[[Page 35003]]

accordingly, staff estimates that there is no hour burden related to 
section 162.32 for CFTC-regulated entities.
    In total, CFTC staff estimates that the aggregate annual 
information collection burden of part 162 subpart C--Identity Theft is 
10,701 hours (2,507 hours + 8,194 hours). Compliance with part 162 
subpart C--Identity Theft, including compliance with the information 
collection requirements thereunder, is mandatory for each CFTC 
regulated entity that qualifies as a ``financial institution'' or 
``creditor'' under Part 162 Subpart C--Identity Theft (as discussed 
above, certain collections of information under Part 162 Subpart C--
Identity Theft are mandatory only for financial institutions or 
creditors that offer or maintain covered accounts).
    Frequency of collection: Ongoing. There are no capital costs or 
operating and maintenance costs associated with this collection.

    Authority:  44 U.S.C. 3501 et seq.

    Dated: May 26, 2016.
Robert N. Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2016-12858 Filed 5-31-16; 8:45 am]
 BILLING CODE 6351-01-P