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.
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.
No
Yes
Uncollected
Uncollected
No
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.