Privacy of Consumer Financial Information

Forms and Documents

Document	Type	Status	Availability
0055supportingstatement 01-2010.pdf	Supporting Statement A	Uploaded 2010-01-27	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
29107	Privacy of Consumer Financial Information		Modified

ICR Details

OMB Control No: 3038-0055	ICR Reference No: 200912-3038-001
Status: Historical Inactive	Previous ICR Reference No: 200708-3038-003
Agency/Subagency: CFTC	Agency Tracking No:
Title: Privacy of Consumer Financial Information
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Preapproved	Conclusion Date: 04/18/2010
	Date Received in OIRA: 02/19/2010
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2013	36 Months From Approved	01/31/2012
Responses	364,135	0	342,900
Time Burden (Hours)	6,186	0	13,245
Cost Burden (Dollars)	1,290,576	0	1,215,315

---

Abstract: Pursuant to amendument to the Commodity Exchange Act found in the Food, Conservation, and Energy Act of 2008, Pub. L No. 110-246, 122 Stat. 1651, 2189-2204 (2008), the Commission has propsed a comprehensive set of rules applicable to intermediaries and counterparties engaged in the offer and sale of off-exchange forex contracts to retail customers. Because the Ace and the proposed regulations will require the registration of previously unregistered intermediaries, the number of registrants required to provide privacy notices to customers is expected to rise.

---

Authorizing Statute(s): PL: Pub.L. 110 - 246 122 Stat. 1651,2189-224 Name of Law: Food Conservation, and Energy Act of 2008
  

Citations for New Statutory Requirements: PL: Pub.L. 110 - 246 122 Stat. 1651, 2189-2204 Name of Law: Farm Bill

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3038-AC61	Proposed rulemaking	75 FR 3282	01/20/2010

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	75 FR 3282	01/20/2010
Did the Agency receive public comments on this ICR? Yes

---

Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Privacy of Consumer Financial Information

---

ICR Summary of Burden

	Total Request	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	364,135	342,900	0	21,235	0	0
Annual Time Burden (Hours)	6,186	13,245	0	-7,059	0	0
Annual Cost Burden (Dollars)	1,290,576	1,215,315	0	75,261	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Changing Regulations

Short Statement: The passage of the Farm Bill requires previously unregistered persons to become registered with the Commission. These new registrants must, in turn, comply with the Part 160 requirements. The difference in burden hours from the last information collection renewal reflects the fact that the biggest burden in time and expense is borne by new registrants – those that must prepare and distribute a privacy notice for the first time. The carryover 3,833 registrants need only mail the notice on an annual basis, which is a negligible burden.

---

Annual Cost to Federal Government:

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? Yes

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

---

Common Form ICR:  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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 02/19/2010

---