2015-01105. Agency Information Collection Activities: Notice of Intent To Renew Collection 3038-0072 Registration of Swap Dealers and Major Swap Participants

AGENCY:

Commodity Futures Trading Commission.

ACTION:

Notice.

SUMMARY:

The Commodity Futures Trading Commission (“Commission” or “CFTC”) is announcing an opportunity for public comment on the proposed 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 requirements relating to the registration process for swap dealers and major swap participants.

DATES:

Comments must be submitted on or before March 24, 2015.

ADDRESSES:

You may submit comments, identified by “Renewal of Collection Pertaining to Registration of Swap Dealers and Major Swap Participants” 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.

FOR FURTHER INFORMATION CONTACT:

Christopher Cummings, Division of Swap Dealer and Intermediary Oversight, Commodity Futures Trading Commission, 1125 21st Street NW., Washington, DC 20581; [phone]; email: [e-mail], and refer to OMB Control No. 3038-0072.

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: Registration of Swap Dealers and Major Swap Participants (OMB Control No. 3038-0072). This is a request for extension of a currently approved information collection.

Abstract: Pursuant to Section 731 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Public Law 111-203, 124 Stat. 1376 (2010) (“Dodd-Frank Act”), the Commission promulgated regulations setting forth the procedure whereby persons required by the Dodd-Frank Act to register with the Commission as Swap Dealers or Major Swap Participants may do so.

With respect to the collection of information, the Commission 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 § 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 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: The Commission estimates that the total annual respondent burden for this collection is 629 hours:

Form 7-R.

Respondents/Affected Entities: Swap dealers and major swap participants.

Estimated number of respondents: 125.

Estimated burden per response: 1 hour.

Estimated total annual burden on respondents: 125 hours.

Frequency of collection: On occasion and annually.

Form 8-R.

Respondents/Affected Entities: 5 principals per each of 125 swap dealers and major swap participants.

Estimated number of respondents: 625.

Estimated burden per response: 0.8 hour.

Estimated total annual burden on respondents: 500 hours.

Frequency of collection: On occasion.

Form 8-T.

Respondents/Affected Entities: 1 principal per each of 20 swap dealers and major swap participants.

Estimated number of respondents: 20.

Estimated burden per response: 0.2 hour.

Estimated total annual burden on respondents: 4 hours.

Frequency of collection: On occasion.

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

Dated: January 16, 2015.

Christopher J. Kirkpatrick,

Secretary of the Commission.

Footnotes

1.  17 CFR 145.9.