Regulations Governing Bankruptcies of Commodity Brokers

ICR 200810-3038-003

OMB: 3038-0021

Federal Form Document

Forms and Documents
Document
Name
Status
Supplementary Document
2008-11-19
Supplementary Document
2008-10-30
Supplementary Document
2008-10-29
Supporting Statement A
2008-10-29
IC Document Collections
IC ID
Document
Title
Status
29044
Modified
ICR Details
3038-0021 200810-3038-003
Historical Active 200507-3038-001
CFTC
Regulations Governing Bankruptcies of Commodity Brokers
Revision of a currently approved collection   No
Regular
Approved with change 01/16/2009
Retrieve Notice of Action (NOA) 11/20/2008
  Inventory as of this Action Requested Previously Approved
01/31/2012 36 Months From Approved 01/31/2009
4,942 0 6,173
247 0 309
0 0 0

The rule requires (1) futures commission merchants (FCMs) to provide customers with a standard disclosure statement describing the treatment in bankruptcy of any non-cash property deposited as margin; and (2) FCMs to disclose to the Commission certain post-bankruptcy transfers.

US Code: 7 USC 1a, 2, 4a, 6c, d, g Name of Law: Bankruptcy Rules
   US Code: 7 USC 7, 7a, 12, 19, 23, 24 Name of Law: Bankruptcy Rules
   US Code: 11 USC 362, 546, 548, 556; 761-766 Name of Law: Bamlri[tcu Rules
  
None

Not associated with rulemaking 73 FR 52331 09/09/2008

  73 FR 52331 09/09/2008
73 FR 68423 11/18/2008
No

1
IC Title Form No. Form Name
Regulations Governing Bankruptcies of Commodity Brokers

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 4,942 6,173 0 -1,231 0 0
Annual Time Burden (Hours) 247 309 0 -62 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
Yes
Miscellaneous Actions
The decrease in the burden reflects a smaller number of entities that must comply with the notification, disclosure and recordkeeping requirements of CFTC Regulations 190.06(b)and (d), 190.10(c), and 190.04 (e) (1). At the time of the last extension, there were approximately 187 FCMs registered with the Commission that were obligated to comply; currently, there are 150 situated FCMs registered with the CFTC.

$0
No
No
Uncollected
Uncollected
Uncollected
Uncollected
John Nowlin 202-418-5427

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
11/20/2008


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