Agency Information Collection Activities: Notice of Intent To Renew Collection Number 3038-0078, Conflicts of Interest Policies and Procedures by Futures Commission Merchants and Introducing Brokers, 14098-14099 [2019-06940]

Download as PDF 14098 Federal Register / Vol. 84, No. 68 / Tuesday, April 9, 2019 / Notices 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 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.1 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 https://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: The respondent burden for this collection is estimated to be 0.26 hour per response, on average. These estimates include the time to locate the information related to the exemptions and to file necessary exemption paperwork. There are approximately 74,418 responses annually, thus the estimated total annual burden on respondents is 19,676 hours. Respondents/Affected Entities: Large Traders, Clearing Members, Contract Markets, and other entities affected by Commission regulations 16.00 and 17.00 as well as Parts 19 and 21. Estimated number of respondents: 480. Estimated total annual burden on respondents: 19,676 hours. Frequency of collection: Periodically. There are no capital costs or operating and maintenance costs associated with this collection. amozie on DSK9F9SC42PROD with NOTICES (Authority: 44 U.S.C. 3501 et seq.) Dated: April 3, 2019. Robert Sidman, Deputy Secretary of the Commission. [FR Doc. 2019–06938 Filed 4–8–19; 8:45 am] BILLING CODE 6351–01–P 1 17 CFR 145.9. VerDate Sep<11>2014 18:15 Apr 08, 2019 Jkt 247001 COMMODITY FUTURES TRADING COMMISSION Agency Information Collection Activities: Notice of Intent To Renew Collection Number 3038–0078, Conflicts of Interest Policies and Procedures by Futures Commission Merchants and Introducing Brokers Commodity Futures Trading Commission. AGENCY: ACTION: Notice. 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 mandated by Commission regulation 1.71 (Conflicts of interest policies and procedures by futures commission merchants and introducing brokers). SUMMARY: Comments must be submitted on or before June 10, 2019. DATES: You may submit comments, identified by ‘‘Conflicts of Interest Policies and Procedures by Futures Commission Merchants and Introducing Brokers,’’ and OMB Control No. 3038– 0078 by any of the following methods: • The Agency’s website, at https:// comments.cftc.gov/. Follow the instructions for submitting comments through the website. • 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. 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. ADDRESSES: FOR FURTHER INFORMATION CONTACT: Jacob Chachkin, Special Counsel, Division of Swap Dealer and Intermediary Oversight, Commodity Futures Trading Commission, (202) 418–5496; email: jchachkin@cftc.gov. PO 00000 Frm 00016 Fmt 4703 Sfmt 4703 Under the PRA,1 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, including each proposed extension of an existing 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: Conflicts of Interest Policies and Procedures by Futures Commission Merchants and Introducing Brokers (OMB Control No. 3038–0078). This is a request for an extension of a currently approved information collection. Abstract: On April 3, 2012, the Commission adopted Commission regulation 1.71 (Conflicts of interest policies and procedures by futures commission merchants and introducing brokers) 2 pursuant to section 4d(c) 3 of the Commodity Exchange Act (‘‘CEA’’). Commission regulation 1.71 requires generally that, among other things, futures commission merchants (‘‘FCM’’) 4 and introducing brokers (‘‘IB’’) 5 develop conflicts of interest procedures and disclosures, adopt and implement written policies and procedures reasonably designed to ensure compliance with their conflicts of interest and disclosure obligations, and maintain specified records related to those requirements.6 The Commission believes that the information collection obligations imposed by Commission Regulation 1.71 are essential (i) to ensuring that FCMs and IBs develop and maintain the conflicts of interest systems, procedures and disclosures required by the CEA, and Commission regulations, and (ii) to the effective evaluation of these SUPPLEMENTARY INFORMATION: 1 44 U.S.C. 3501 et seq. CFR 1.71. 3 7 U.S.C. 6d(c). 4 For the definition of FCM, see section 1a(28) of the CEA and Commission regulation 1.3. 7 U.S.C. 1a(28) and 17 CFR 1.3. 5 For the definition of IB, see section 1a(31) of the CEA and Commission regulation 1.3. 7 U.S.C. 1a(31) and 17 CFR 1.3. 6 See 17 CFR 1.71. 2 17 E:\FR\FM\09APN1.SGM 09APN1 amozie on DSK9F9SC42PROD with NOTICES Federal Register / Vol. 84, No. 68 / Tuesday, April 9, 2019 / Notices registrants’ actual compliance with the CEA and Commission regulations. 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. 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.7 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 https://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 registered FCMs and IBs. Accordingly, the respondent burden for this collection is estimated to be as follows: Estimated Number of Respondents: 1,244. Estimated Average Burden Hours per Respondent: 44.5. Estimated Total Annual Burden Hours: 55,358. Frequency of Collection: As applicable. 7 17 CFR 145.9. VerDate Sep<11>2014 18:15 Apr 08, 2019 Jkt 247001 There are no capital costs or operating and maintenance costs associated with this collection. (Authority: 44 U.S.C. 3501 et seq.) Dated: April 3, 2019. Robert Sidman, Deputy Secretary of the Commission. [FR Doc. 2019–06940 Filed 4–8–19; 8:45 am] BILLING CODE 6351–01–P COMMODITY FUTURES TRADING COMMISSION Agency Information Collection Activities: Notice of Intent To Extend Collection 3038–0024; Regulations and Forms Pertaining to the Financial Integrity of the Marketplace Commodity Futures Trading Commission. ACTION: Notice. AGENCY: The Commodity Futures Trading Commission (‘‘Commission’’) is announcing an opportunity for public comment on the extension 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 proposed revision of an existing collection of information, and to allow 60 days for public comment. This notice solicits comments on the obligation of registrants to provide records related to their minimum financial requirements. DATES: Comments must be submitted on or before June 10, 2019. ADDRESSES: You may submit comments, and ‘‘OMB Control No. 3038–0024’’ by any of the following methods: • The Agency’s website, at https:// comments.cftc.gov/. Follow the instructions for submitting comments through the website. • 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. 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 CONTACT: Joshua Beale, Associate Director, Division of Swap Dealer and Intermediary Oversight, Commodity SUMMARY: PO 00000 Frm 00017 Fmt 4703 Sfmt 4703 14099 Futures Trading Commission, (202) 418–5447; email: jbeale@cftc.gov. SUPPLEMENTARY INFORMATION: Under the PRA, 44 U.S.C. 3501 et seq., 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, including each proposed revision of an existing collection of information, before submitting the collection to OMB for approval. To comply with this requirement, the CFTC is publishing notice for the extension of the collection listed below. Title: Regulations and Forms Pertaining to the Financial Integrity of the Marketplace (OMB Control No. 3038–0024). This is a request for an extension of a currently approved information collection. Abstract: The Commission is the independent federal regulatory agency charged with providing various forms of customer protection so that users of the commodity markets can be assured of the financial integrity of the markets and the intermediaries that they employ in their trading activities. Part 1 of the Commission’s regulations requires, among other things, that commodity brokers—known as futures commission merchants (‘‘FCMs’’), or Introducing Brokers (‘‘IBs’’), comply with certain minimum financial requirements. In order to monitor compliance with these financial standards, the Commission has required FCMs and IBs to file financial reports with the Commission and with the designated self-regulatory organization of which they are members as well as to report to the Commission should certain financial requirements drop below prescribed minimums. In 2008, the U.S. Congress passed the Food, Conservation, and Energy Act of 2008, Public Law 110–246, 122 Stat. 1651, 2189–2204 (2008), also known as the Farm Bill. The Farm Bill provided the Commission with new authority with regard to the regulation of offexchange retail forex transactions. Among other things, it directed the Commission to draft rules effectuating registration provisions for a new category of registrant—the retail foreign exchange dealer (‘‘RFED’’). Under the E:\FR\FM\09APN1.SGM 09APN1

Agencies

[Federal Register Volume 84, Number 68 (Tuesday, April 9, 2019)]
[Notices]
[Pages 14098-14099]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-06940]


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COMMODITY FUTURES TRADING COMMISSION


Agency Information Collection Activities: Notice of Intent To 
Renew Collection Number 3038-0078, Conflicts of Interest Policies and 
Procedures by Futures Commission Merchants and Introducing Brokers

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 collections of 
information mandated by Commission regulation 1.71 (Conflicts of 
interest policies and procedures by futures commission merchants and 
introducing brokers).

DATES: Comments must be submitted on or before June 10, 2019.

ADDRESSES: You may submit comments, identified by ``Conflicts of 
Interest Policies and Procedures by Futures Commission Merchants and 
Introducing Brokers,'' and OMB Control No. 3038-0078 by any of the 
following methods:
     The Agency's website, at https://comments.cftc.gov/. Follow 
the instructions for submitting comments through the website.
     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. 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 CONTACT: Jacob Chachkin, Special Counsel, 
Division of Swap Dealer and Intermediary Oversight, Commodity Futures 
Trading Commission, (202) 418-5496; email: [email protected].

SUPPLEMENTARY INFORMATION: Under the PRA,\1\ 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, including each 
proposed extension of an existing 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.
---------------------------------------------------------------------------

    \1\ 44 U.S.C. 3501 et seq.
---------------------------------------------------------------------------

    Title: Conflicts of Interest Policies and Procedures by Futures 
Commission Merchants and Introducing Brokers (OMB Control No. 3038-
0078). This is a request for an extension of a currently approved 
information collection.
    Abstract: On April 3, 2012, the Commission adopted Commission 
regulation 1.71 (Conflicts of interest policies and procedures by 
futures commission merchants and introducing brokers) \2\ pursuant to 
section 4d(c) \3\ of the Commodity Exchange Act (``CEA''). Commission 
regulation 1.71 requires generally that, among other things, futures 
commission merchants (``FCM'') \4\ and introducing brokers (``IB'') \5\ 
develop conflicts of interest procedures and disclosures, adopt and 
implement written policies and procedures reasonably designed to ensure 
compliance with their conflicts of interest and disclosure obligations, 
and maintain specified records related to those requirements.\6\ The 
Commission believes that the information collection obligations imposed 
by Commission Regulation 1.71 are essential (i) to ensuring that FCMs 
and IBs develop and maintain the conflicts of interest systems, 
procedures and disclosures required by the CEA, and Commission 
regulations, and (ii) to the effective evaluation of these

[[Page 14099]]

registrants' actual compliance with the CEA and Commission regulations.
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    \2\ 17 CFR 1.71.
    \3\ 7 U.S.C. 6d(c).
    \4\ For the definition of FCM, see section 1a(28) of the CEA and 
Commission regulation 1.3. 7 U.S.C. 1a(28) and 17 CFR 1.3.
    \5\ For the definition of IB, see section 1a(31) of the CEA and 
Commission regulation 1.3. 7 U.S.C. 1a(31) and 17 CFR 1.3.
    \6\ See 17 CFR 1.71.
---------------------------------------------------------------------------

    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.
    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.\7\
---------------------------------------------------------------------------

    \7\ 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 https://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 registered 
FCMs and IBs. Accordingly, the respondent burden for this collection is 
estimated to be as follows:
    Estimated Number of Respondents: 1,244.
    Estimated Average Burden Hours per Respondent: 44.5.
    Estimated Total Annual Burden Hours: 55,358.
    Frequency of Collection: As applicable.
    There are no capital costs or operating and maintenance costs 
associated with this collection.

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

    Dated: April 3, 2019.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2019-06940 Filed 4-8-19; 8:45 am]
 BILLING CODE 6351-01-P
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