Regulations Governing Bankruptcies of Commodity Brokers

ICR 201112-3038-007

OMB: 3038-0021

Federal Form Document

Forms and Documents
Document
Name
Status
Supplementary Document
2012-01-27
Supporting Statement A
2012-01-27
IC Document Collections
IC ID
Document
Title
Status
29044
Modified
ICR Details
3038-0021 201112-3038-007
Historical Active 200810-3038-003
CFTC
Regulations Governing Bankruptcies of Commodity Brokers
Revision of a currently approved collection   No
Regular
Approved without change 08/03/2012
Retrieve Notice of Action (NOA) 01/30/2012
  Inventory as of this Action Requested Previously Approved
08/31/2015 36 Months From Approved 08/31/2012
283,500 0 4,942
13,892 0 247
147,420 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 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
   US Code: 7 USC 1a, 2, 4a, 6c, d, g Name of Law: Bankruptcy Rules
  
None

Not associated with rulemaking

  76 FR 81916 12/29/2011
77 FR 13101 03/05/2012
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 283,500 4,942 0 278,558 0 0
Annual Time Burden (Hours) 13,892 247 0 13,645 0 0
Annual Cost Burden (Dollars) 147,420 0 0 147,420 0 0
Yes
Miscellaneous Actions
No
Based on a reevaluation of the application of the PRA to the Commission's Part 190 rules, the Commission determined that it was necessary to estimate an information collection burden for a number of rules for which no burden had been estimated previously. This relates to disclosure and recordkeeping requirements for trustees in commodity broker liquidation proceedings in bankruptcy court. In addition, for certain disclosure rules applying to futures commission merchants outside of bankruptcy, the Commission updated its estimates of numbers of respondents, responses, and hours per response.

$0
No
No
No
No
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.
01/30/2012


© 2024 OMB.report | Privacy Policy