Agency Information Collection Activities: Notice of Intent To Renew Collection Number 3038-0062, Off-Exchange Foreign Currency Transactions, 43527-43528 [2017-19749]

Download as PDF Federal Register / Vol. 82, No. 179 / Monday, September 18, 2017 / Notices sradovich on DSKBBY8HB2PROD with NOTICES Assessment and Fishery Evaluation document, future meeting planning, and administrative items. Public comment may be taken at the discretion of the CPSMT Chair. Although non-emergency issues not contained in the meeting agenda may be discussed, those issues may not be the subject of formal action during this meeting. Action will be restricted to those issues specifically listed in this document and any issues arising after publication of this document that require emergency action under section 305(c) of the Magnuson-Stevens Fishery Conservation and Management Act, provided the public has been notified of the intent to take final action to address the emergency. Comments must be submitted on or before November 17, 2017. ADDRESSES: You may submit comments, identified by ‘‘Off-Exchange Foreign Currency Transactions,’’ and Collection Number 3038–0062 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. Please submit your comments using only one method. Special Accommodations • Federal eRulemaking Portal: http:// This meeting is physically accessible www.regulations.gov/. Follow the to people with disabilities. Requests for instructions for submitting comments sign language interpretation or other through the Portal. auxiliary aids should be directed to Mr. Please submit your comments using Dale Sweetnam; email: dale.sweetnam@ only one method. noaa.gov; phone: (858) 546–7170 at least All comments must be submitted in 10 days prior to the meeting date. English, or if not, accompanied by an English translation. Comments will be Dated: September 13, 2017. posted as received to http:// Tracey L. Thompson, www.cftc.gov. Acting Deputy Director, Office of Sustainable Fisheries, National Marine Fisheries Service. FOR FURTHER INFORMATION CONTACT: [FR Doc. 2017–19746 Filed 9–15–17; 8:45 am] Lauren Bennett, Special Counsel, 202– BILLING CODE 3510–22–P 418–5290, lbennett@cftc.gov, Division of Swap Dealer and Intermediary Oversight, Commodity Futures Trading Commission. COMMODITY FUTURES TRADING COMMISSION SUPPLEMENTARY INFORMATION: Under the PRA, Federal agencies must obtain Agency Information Collection approval from the Office of Management Activities: Notice of Intent To Renew and Budget (OMB) for each collection of Collection Number 3038–0062, Offinformation they conduct or sponsor. Exchange Foreign Currency ‘‘Collection of Information’’ is defined Transactions in 44 U.S.C. 3502(3) and 5 CFR 1320.3 and includes agency requests or AGENCY: Commodity Futures Trading requirements that members of the public Commission. submit reports, keep records, or provide ACTION: Notice. information to a third party. Section SUMMARY: The Commodity Futures 3506(c)(2)(A) of the PRA, 44 U.S.C. Trading Commission (‘‘CFTC’’ or 3506(c)(2)(A), requires Federal agencies ‘‘Commission’’) is announcing an to provide a 60-day notice in the opportunity for public comment on the Federal Register concerning each proposed renewal of a collection of proposed collection of information certain information by the agency. before submitting the collection to OMB Under the Paperwork Reduction Act for approval. To comply with this (‘‘PRA’’), Federal agencies are required requirement, the CFTC is publishing to publish notice in the Federal Register notice of the proposed collection of concerning each proposed collection of information listed below. An agency information, including each proposed may not conduct or sponsor, and a extension of an existing collection of person is not required to respond to, a information, and to allow 60 days for collection of information unless it public comment. This notice solicits displays a currently valid OMB control comments on the collections of number. Title: Off-Exchange Foreign Currency information provided for by part 5 of the Transactions (OMB Control No. 3038– Commission’s regulations under the 0062). This is a request for an extension Commodity Exchange Act (‘‘CEA’’) relating to off-exchange foreign currency of a currently approved information collection. transactions. VerDate Sep<11>2014 16:54 Sep 15, 2017 Jkt 241001 DATES: PO 00000 Frm 00014 Fmt 4703 Sfmt 4703 43527 Abstract: Part 5 of the Commission’s regulations under the CEA establishes rules applicable to retail foreign exchange dealers (‘‘RFEDs’’), futures commission merchants (‘‘FCMs’’), introducing brokers (‘‘IBs’’), commodity trading advisors (‘‘CTAs’’), and commodity pool operators (‘‘CPOs’’) engaged in the offer and sale of offexchange forex contracts to retail customers. Specifically: • Regulation 5.5 requires RFEDs, FCMs, and IBs to distribute risk disclosure statements to new retail forex customers. • Regulation 5.6 requires RFEDs and FCMs to report any failures to maintain the minimum capital required by Commission regulations. • Regulation 5.8 requires RFEDs and FCMs to calculate their total retail forex obligation. • Regulation 5.10 requires RFEDs to maintain and preserve certain risk assessment documentation. • Regulation 5.11(a)(1) requires RFEDs to submit certain risk assessment documentation to the Commission within 60 days of the effective date of their registration. • Regulation 5.11(a)(2) requires RFEDs to submit certain financial documentation to the Commission within 105 calendar days of the end of each fiscal year. RFEDs must also submit additional information, if requested, regarding affiliates’ financial impact on an RFED’s organizational structure. • Regulation 5.12(a) requires RFED applicants to submit a Form 1–FR–FCM concurrently with their registration application. • Regulation 5.12(b) requires registered RFEDs to file a Form 1–FR– FCM on a monthly and annual basis. • Regulation 5.12(g) states that, in the event that an RFED cannot file its Form 1–FR–FCM for any period within the time specified in Regulation 5.12(b), the RFED may file an application for an extension of time with its self-regulatory organization. • Regulation 5.13(a) requires RFEDs and FCMs to provide monthly account statements to their customers. • Regulation 5.13(b) requires RFEDs and FCMs to provide confirmation statements to their customers within one business day after the execution of any retail forex or forex option transaction. • Regulation 5.14 requires RFEDs and FCMs to maintain current ledgers of each transaction affecting its asset, liability, income, expense and capital accounts. • Regulation 5.18(g) requires each RFED, FCM, CPO, CTA, and IB subject E:\FR\FM\18SEN1.SGM 18SEN1 sradovich on DSKBBY8HB2PROD with NOTICES 43528 Federal Register / Vol. 82, No. 179 / Monday, September 18, 2017 / Notices to part 5 to maintain a record of all communications received that give rise to possible violations of the Act, rules, regulations or orders thereunder related to their retail forex business. • Regulation 5.18(i) requires each RFED and FCM to prepare and maintain on a quarterly basis a calculation of nondiscretionary retail forex customer accounts open for any period of time during the quarter that were profitable, and the percentage of such accounts that were not profitable. • Regulation 5.18(j) requires the CCO of each RFED and FCM to certify annually that the firm has in place processes to establish, maintain, review, modify and test policies and procedures reasonably designed to achieve compliance with the Act, rules, regulations and orders thereunder. • Regulation 5.19 requires each RFED, FCM, CPO, CTA, and IB subject to part 5 to submit to the Commission copies of any dispositive or partially dispositive decision for which a notice of appeal has been filed in any material legal proceeding (1) to which the firm is a party to or to which its property or assets is subject with respect to retail forex transactions, or (2) instituted against any person who is a principal of the firm arising from conduct in such person’s capacity as a principal of that firm. • Regulation 5.20 requires RFEDs, FCMs and IBs to submit documentation requested pursuant to certain types of special calls by the Commission. • Regulation 5.23 requires RFEDs, FCMs and IBs to notify the Commission regarding bulk transfers and bulk liquidations of customer accounts. The rules establish reporting and recordkeeping requirements that are necessary to implement the provisions of the Food, Conservation, and Energy Act of 2008 1 regarding off-exchange transactions in foreign currency with members of the public. The rules are intended to promote customer protection by providing safeguards against irresponsible or fraudulent business practices.2 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 1 Public Law 110–246, 122 Stat. 1651, 2189–220 (2008). 2 See Regulation of Off-Exchange Retail Foreign Exchange Transactions and Intermediaries, 75 FR 55410, 55416 (Sept. 10, 2010). VerDate Sep<11>2014 16:54 Sep 15, 2017 Jkt 241001 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. 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. You should submit only information that you wish to make available publicly. If you wish the Commission 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 Commission’s regulations.3 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 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 Information Collection Request 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: The Commission is revising its estimate of the burden for this collection to reflect the current number of affected registrants and revised burden estimates. Accordingly, the respondent burden for this collection is estimated to be as follows: Number of Registrants: 169. Estimated Average Burden Hours per Registrant: 777. Estimated Aggregate Burden Hours: 131,259. Frequency of Recordkeeping: As applicable. Authority: 44 U.S.C. 3501 et seq. Dated: September 12, 2017. Robert N. Sidman, Deputy Secretary of the Commission. [FR Doc. 2017–19749 Filed 9–15–17; 8:45 am] BILLING CODE 6351–01–P 3 17 PO 00000 CFR 145.9. Frm 00015 Fmt 4703 Sfmt 4703 DEPARTMENT OF DEFENSE Department of the Air Force Air University Board of Visitors Meeting Air University Board of Visitors, Department of Air Force. ACTION: Notice of meeting. AGENCY: Under the provisions of the Federal Advisory Committee Act of 1972 (5 U.S.C., Appendix, as amended), the Government in the Sunshine Act of 1976 (5 U.S.C. 552b, as amended), and 41 CFR 102–3.150, the Department of Defense announces that the Air University Board of Visitors’ fall meeting will take place on Monday, 13 November 2017, from 8:00 a.m. to approximately 5 p.m. and Tuesday, 14 November, 2017, from 7:30 a.m. to approximately 3:00 p.m. Central Standard Time. The meeting will be held in the Air University Commander’s Conference Room located in Building 800 at Maxwell Air force Base, AL. The purpose of this meeting is to provide independent advice and recommendations on matters pertaining to the educational, doctrinal, and research policies and activities of Air University. The agenda will include topics relating to the policies, programs, and initiatives of Air University educational programs and will include an out brief from the Air Force Institute of Technology and Community College of the Air Force Subcommittees. Pursuant to 5 U.S.C. 552b, as amended, and 41 CFR 102–3.155 all sessions of the Air University Board of Visitors’ meetings’ will be open to the public. Any member of the public wishing to provide input to the Air University Board of Visitors’ should submit a written statement in accordance with 41 CFR 102–3.140(c) and section 10(a)(3) of the Federal Advisory Committee Act and the procedures described in this paragraph. Written statements can be submitted to the Designated Federal Officer at the address detailed below at any time. Statements being submitted in response to the agenda mentioned in this notice must be received by the Designated Federal Officer at the address listed below at least ten calendar days prior to the meeting which is the subject of this notice. Written statements received after this date may not be provided to or considered by the Air University Board of Visitors until its next meeting. The Designated Federal Officer will review all timely submissions with the Air E:\FR\FM\18SEN1.SGM 18SEN1

Agencies

[Federal Register Volume 82, Number 179 (Monday, September 18, 2017)]
[Notices]
[Pages 43527-43528]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-19749]


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COMMODITY FUTURES TRADING COMMISSION


Agency Information Collection Activities: Notice of Intent To 
Renew Collection Number 3038-0062, Off-Exchange Foreign Currency 
Transactions

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.

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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 collections of 
information provided for by part 5 of the Commission's regulations 
under the Commodity Exchange Act (``CEA'') relating to off-exchange 
foreign currency transactions.

DATES: Comments must be submitted on or before November 17, 2017.

ADDRESSES: You may submit comments, identified by ``Off-Exchange 
Foreign Currency Transactions,'' and Collection Number 3038-0062 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. Please submit 
your comments using only one method.
     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: Lauren Bennett, Special Counsel, 202-
418-5290, lbennett@cftc.gov, Division of Swap Dealer and Intermediary 
Oversight, Commodity Futures Trading Commission.

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. 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.
    Title: Off-Exchange Foreign Currency Transactions (OMB Control No. 
3038-0062). This is a request for an extension of a currently approved 
information collection.
    Abstract: Part 5 of the Commission's regulations under the CEA 
establishes rules applicable to retail foreign exchange dealers 
(``RFEDs''), futures commission merchants (``FCMs''), introducing 
brokers (``IBs''), commodity trading advisors (``CTAs''), and commodity 
pool operators (``CPOs'') engaged in the offer and sale of off-exchange 
forex contracts to retail customers. Specifically:
     Regulation 5.5 requires RFEDs, FCMs, and IBs to distribute 
risk disclosure statements to new retail forex customers.
     Regulation 5.6 requires RFEDs and FCMs to report any 
failures to maintain the minimum capital required by Commission 
regulations.
     Regulation 5.8 requires RFEDs and FCMs to calculate their 
total retail forex obligation.
     Regulation 5.10 requires RFEDs to maintain and preserve 
certain risk assessment documentation.
     Regulation 5.11(a)(1) requires RFEDs to submit certain 
risk assessment documentation to the Commission within 60 days of the 
effective date of their registration.
     Regulation 5.11(a)(2) requires RFEDs to submit certain 
financial documentation to the Commission within 105 calendar days of 
the end of each fiscal year. RFEDs must also submit additional 
information, if requested, regarding affiliates' financial impact on an 
RFED's organizational structure.
     Regulation 5.12(a) requires RFED applicants to submit a 
Form 1-FR-FCM concurrently with their registration application.
     Regulation 5.12(b) requires registered RFEDs to file a 
Form 1-FR-FCM on a monthly and annual basis.
     Regulation 5.12(g) states that, in the event that an RFED 
cannot file its Form 1-FR-FCM for any period within the time specified 
in Regulation 5.12(b), the RFED may file an application for an 
extension of time with its self-regulatory organization.
     Regulation 5.13(a) requires RFEDs and FCMs to provide 
monthly account statements to their customers.
     Regulation 5.13(b) requires RFEDs and FCMs to provide 
confirmation statements to their customers within one business day 
after the execution of any retail forex or forex option transaction.
     Regulation 5.14 requires RFEDs and FCMs to maintain 
current ledgers of each transaction affecting its asset, liability, 
income, expense and capital accounts.
     Regulation 5.18(g) requires each RFED, FCM, CPO, CTA, and 
IB subject

[[Page 43528]]

to part 5 to maintain a record of all communications received that give 
rise to possible violations of the Act, rules, regulations or orders 
thereunder related to their retail forex business.
     Regulation 5.18(i) requires each RFED and FCM to prepare 
and maintain on a quarterly basis a calculation of non-discretionary 
retail forex customer accounts open for any period of time during the 
quarter that were profitable, and the percentage of such accounts that 
were not profitable.
     Regulation 5.18(j) requires the CCO of each RFED and FCM 
to certify annually that the firm has in place processes to establish, 
maintain, review, modify and test policies and procedures reasonably 
designed to achieve compliance with the Act, rules, regulations and 
orders thereunder.
     Regulation 5.19 requires each RFED, FCM, CPO, CTA, and IB 
subject to part 5 to submit to the Commission copies of any dispositive 
or partially dispositive decision for which a notice of appeal has been 
filed in any material legal proceeding (1) to which the firm is a party 
to or to which its property or assets is subject with respect to retail 
forex transactions, or (2) instituted against any person who is a 
principal of the firm arising from conduct in such person's capacity as 
a principal of that firm.
     Regulation 5.20 requires RFEDs, FCMs and IBs to submit 
documentation requested pursuant to certain types of special calls by 
the Commission.
     Regulation 5.23 requires RFEDs, FCMs and IBs to notify the 
Commission regarding bulk transfers and bulk liquidations of customer 
accounts.
    The rules establish reporting and recordkeeping requirements that 
are necessary to implement the provisions of the Food, Conservation, 
and Energy Act of 2008 \1\ regarding off-exchange transactions in 
foreign currency with members of the public. The rules are intended to 
promote customer protection by providing safeguards against 
irresponsible or fraudulent business practices.\2\
---------------------------------------------------------------------------

    \1\ Public Law 110-246, 122 Stat. 1651, 2189-220 (2008).
    \2\ See Regulation of Off-Exchange Retail Foreign Exchange 
Transactions and Intermediaries, 75 FR 55410, 55416 (Sept. 10, 
2010).
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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 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.
    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. You should submit only information that you wish 
to make available publicly. If you wish the Commission 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 Commission's regulations.\3\
---------------------------------------------------------------------------

    \3\ 17 CFR 145.9.
---------------------------------------------------------------------------

    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 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 Information Collection Request 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: The Commission is revising its estimate of the 
burden for this collection to reflect the current number of affected 
registrants and revised burden estimates. Accordingly, the respondent 
burden for this collection is estimated to be as follows:
    Number of Registrants: 169.
    Estimated Average Burden Hours per Registrant: 777.
    Estimated Aggregate Burden Hours: 131,259.
    Frequency of Recordkeeping: As applicable.

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

    Dated: September 12, 2017.
Robert N. Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2017-19749 Filed 9-15-17; 8:45 am]
 BILLING CODE 6351-01-P