Agency Information Collection Activities Under OMB Review, 50692-50693 [2016-18212]

Download as PDF mstockstill on DSK3G9T082PROD with NOTICES 50692 Federal Register / Vol. 81, No. 148 / Tuesday, August 2, 2016 / Notices requirements of this exception are satisfied (including policies and procedures ensuring that they are in compliance). Based upon the above, the estimated hour burden for collection is calculated as follows: Estimated Number of Respondents per Year: 54. Estimated Burden Hours per Registrant: 10. Estimated Total Annual Burden Hours: 540. Frequency of Collection: Once; As needed. • Burden Statement—Information Collection for Non-Segregation Jurisdictions: The Commission currently estimates that there are between five and ten jurisdictions for which the first two conditions specified above for nonsegregation jurisdictions are satisfied and where Foreign Consolidated Subsidiaries and foreign branches of U.S. CSEs that are subject to the Commission’s margin rules may engage in swaps, or for purposes of the PRA estimate, an average of 7.5 nonsegregation jurisdictions. The Commission estimates that approximately 12 Foreign Consolidated Subsidiaries and foreign branches of U.S. CSEs may rely on section 23.160(e) of the Final Rule in some or all of these jurisdiction(s). The Commission estimates that each Foreign Consolidated Subsidiary or foreign branch of a U.S. CSE relying on this provision would incur an average of 20 annual burden hours to maintain books and records properly documenting that all of the requirements of this provision are satisfied (including policies and procedures ensuring that they are in compliance) with respect to each jurisdiction as to which they rely on the special provision. Thus, based on the average of 7.5 non-segregation jurisdictions, the Commission estimates that each of the approximately 12 Foreign Consolidated Subsidiaries and foreign branches of U.S. CSEs that may rely on this provision will incur an estimated 150 average burden hours per year (i.e., 20 average burden hours per jurisdiction multiplied by 7.5). Based upon the above, the estimated hour burden for collection is calculated as follows: Estimated Number of Respondents per Year: 12. Estimated Burden Hours per Registrant: 150. Estimated Total Annual Burden Hours: 1,800 hours. Frequency of Collection: Once; As needed. There are no capital costs or operating and maintenance costs associated with this collection. VerDate Sep<11>2014 18:35 Aug 01, 2016 Jkt 238001 Authority: 44 U.S.C. 3501 et seq. Dated: July 27, 2016. Christopher J. Kirkpatrick, Secretary of the Commission. [FR Doc. 2016–18213 Filed 8–1–16; 8:45 am] BILLING CODE 6351–01–P COMMODITY FUTURES TRADING COMMISSION Agency Information Collection Activities Under OMB Review Commodity Futures Trading Commission. ACTION: Notice. AGENCY: 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 September 1, 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 (OIRA) in OMB, within 30 days of the notice’s publication, by email at OIRAsubmissions@omb.eop.gov. Please identify the comments by OMB Control No. 3038–0067. Please provide the Commission with a copy of all submitted comments at the address listed below. Please refer to OMB Reference No. 3038–0067, found on https://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 or through the Agency’s Web site at https:// 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 https://RegInfo.gov. All comments must be submitted in English, or if not, accompanied by an SUMMARY: PO 00000 Frm 00011 Fmt 4703 Sfmt 4703 English translation. Comments will be posted as received to https:// www.cftc.gov. For Further Information or a Copy Contact: Sue McDonough, Counsel, Office of General Counsel, Commodity Futures Trading Commission, (202) 418–5132; email: smcdonough@cftc.gov, and refer to OMB Control No. 3038– 0067. SUPPLEMENTARY INFORMATION: Title: Part 162 Subpart C—Identity Theft Rule (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, 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 part 162 subpart C 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. E:\FR\FM\02AUN1.SGM 02AUN1 Federal Register / Vol. 81, No. 148 / Tuesday, August 2, 2016 / Notices mstockstill on DSK3G9T082PROD with NOTICES CFTC staff estimates of the hour burdens associated with section 162.30 include the one-time burden of complying with this section for newlyformed 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 1 CFTCregulated 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 1 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), and 198 commodity pool operators (‘‘CPOs’’) 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. With respect to 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 470 (569–99 CPOs that are also registered as CTAs). There were no newly registered RFEDs, SDs, or MSPs. Each of these 470 financial institutions or creditors would bear the initial one-time burden of compliance. Of the total 470 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 47 newly-formed financial institutions or creditors carrying covered accounts that would be required to conduct an initial one-time burden of compliance with subpart C of part 162. VerDate Sep<11>2014 18:35 Aug 01, 2016 Jkt 238001 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 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 is 10,701 hours (2,507 hours + 8,194 hours). This estimate of burden hours is made solely for the purposes of the Paperwork Reduction Act and is not derived from a quantitative, comprehensive, or even representative survey or study of the burdens associated with Commission rules and forms. Compliance with part 162 subpart C, 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 (as discussed above, certain collections of information under part 162 subpart C are mandatory only for financial institutions or creditors that offer or maintain covered accounts). The Commission did not receive any comments on the 60-day Federal Register notice, 81 FR 35001, dated June 1, 2016. Estimated Number of Respondents: 4,622. PO 00000 Frm 00012 Fmt 4703 Sfmt 4703 50693 Estimated Average Burden Hours per Respondent: 2.32. Estimated Total Annual Burden Hours: 10,723.2 Frequency of Collection: Once. There are no capital costs or operating and maintenance costs associated with this collection. Authority: 44 U.S.C. 3501 et seq. Dated: July 27, 2016. Christopher J. Kirkpatrick, Secretary of the Commission. [FR Doc. 2016–18212 Filed 8–1–16; 8:45 am] BILLING CODE 6351–01–P DEPARTMENT OF ENERGY Environmental Management SiteSpecific Advisory Board, Paducah Department of Energy (DOE). Notice of open meeting. AGENCY: ACTION: This notice announces a meeting of the Environmental Management Site-Specific Advisory Board (EM SSAB), Paducah. The Federal Advisory Committee Act (Pub. L. 92–463, 86 Stat. 770) requires that public notice of this meeting be announced in the Federal Register. DATES: Thursday, August 18, 2016, 6:00 p.m. ADDRESSES: Barkley Centre, 111 Memorial Drive, Paducah, Kentucky 42001. SUMMARY: FOR FURTHER INFORMATION CONTACT: Jennifer Woodard, Deputy Designated Federal Officer, Department of Energy Paducah Site Office, Post Office Box 1410, MS–103, Paducah, Kentucky 42001, (270) 441–6825. SUPPLEMENTARY INFORMATION: Purpose of the Board: The purpose of the Board is to make recommendations to DOE–EM and site management in the areas of environmental restoration, waste management and related activities. Tentative Agenda: • Call to Order, Introductions, Review of Agenda • Administrative Issues • Public Comments (15 minutes) • Adjourn Breaks taken as appropriate. Public Participation: The EM SSAB, Paducah, welcomes the attendance of the public at its advisory committee meetings and will make every effort to accommodate persons with physical disabilities or special needs. If you require special accommodations due to 2 This total annual burden hour reflects a slight increase in the estimated total annual burden hours to account for the average burden hours per respondent of 2.32 hours. E:\FR\FM\02AUN1.SGM 02AUN1

Agencies

Commodity Futures Trading Commission

[Federal Register Volume 81, Number 148 (Tuesday, August 2, 2016)]
[Notices]
[Pages 50692-50693]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-18212]

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COMMODITY FUTURES TRADING COMMISSION

Agency Information Collection Activities Under OMB Review

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.

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

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 September 1, 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 (OIRA) in OMB, within 30 days of the notice's
publication, by email at OIRAsubmissions@omb.eop.gov. Please identify
the comments by OMB Control No. 3038-0067. Please provide the
Commission with a copy of all submitted comments at the address listed
below. Please refer to OMB Reference No. 3038-0067, found on https://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 or through the Agency's Web site at
https://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 https://
RegInfo.gov. 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 or a Copy Contact: Sue McDonough, Counsel,
Office of General Counsel, Commodity Futures Trading Commission, (202)
418-5132; email: smcdonough@cftc.gov, and refer to OMB Control No.
3038-0067.

SUPPLEMENTARY INFORMATION:
Title: Part 162 Subpart C--Identity Theft Rule (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, 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 part 162 subpart C 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.

[[Page 50693]]

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 \1\ 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).
---------------------------------------------------------------------------

\1\ 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), and 198
commodity pool operators (``CPOs'') 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.
With respect to 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 470 (569-99 CPOs that
are also registered as CTAs). There were no newly registered RFEDs,
SDs, or MSPs. Each of these 470 financial institutions or creditors
would bear the initial one-time burden of compliance. Of the total
470 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 47 newly-formed financial
institutions or creditors 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 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 is 10,701 hours
(2,507 hours + 8,194 hours). This estimate of burden hours is made
solely for the purposes of the Paperwork Reduction Act and is not
derived from a quantitative, comprehensive, or even representative
survey or study of the burdens associated with Commission rules and
forms. Compliance with part 162 subpart C, 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 (as discussed
above, certain collections of information under part 162 subpart C are
mandatory only for financial institutions or creditors that offer or
maintain covered accounts).
The Commission did not receive any comments on the 60-day Federal
Register notice, 81 FR 35001, dated June 1, 2016.
Estimated Number of Respondents: 4,622.
Estimated Average Burden Hours per Respondent: 2.32.
Estimated Total Annual Burden Hours: 10,723.\2\
---------------------------------------------------------------------------

\2\ This total annual burden hour reflects a slight increase in
the estimated total annual burden hours to account for the average
burden hours per respondent of 2.32 hours.
---------------------------------------------------------------------------

Frequency of Collection: Once.
There are no capital costs or operating and maintenance costs
associated with this collection.

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

Dated: July 27, 2016.
Christopher J. Kirkpatrick,
Secretary of the Commission.
[FR Doc. 2016-18212 Filed 8-1-16; 8:45 am]
BILLING CODE 6351-01-P

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