Core Principles & Other Requirements for DCMs

Forms and Documents

Document Name	Status
Form 3038-0052 Part 38 - Designated Contract Markets Form and Instruction	Unchanged
60-day Supporting Statement (Final - 11-14-12).doc Supporting Statement A	2013-10-29

IC Document Collections

IC ID	Document Title	Status
29100	Part 38 - Designated Contract Markets Form and Instruction	Unchanged
209110	Enhancing Protections Afforded Customers and Customer Funds Held by Futures Commission Merchants and Derivatives Clearing Organizations	New

ICR Details

OMB Control No: 3038-0052	ICR Reference No: 201310-3038-005
Status: Historical Active	Previous ICR Reference No: 201309-3038-006
Agency/Subagency: CFTC	Agency Tracking No:
Title: Core Principles & Other Requirements for DCMs
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 09/18/2014
	Date Received in OIRA: 11/14/2013
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2017	36 Months From Approved	10/31/2016
Responses	105	0	90
Time Burden (Hours)	8,670	0	7,920
Cost Burden (Dollars)	0	0	0

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Abstract: The Commission is finalizing new rules in an effort to prevent unauthorized usage of customer funds by FCMs (the "Customer Protection Collection"). This includes proposed modifications to existing rules respecting DCMs. Under the proposed rules, 77 FR 67866, submitted to OMB under previous reference number (ICR Ref. No. 201211-3038-003) on November 14, 2012, DCMs would be obligated to comply with additional requirements for self-regulatory organizations, including the requirement to adopt enhanced examination procedures and have examination programs reviewed by an examinations expert and having the report of such examinations expert filed with the Commission at least once every two years, which would increase recordkeeping and reporting requirements by approximately 50 burden hours to as many as 15 DCMs. The Customer Protection Collection does not otherwise alter the Form DCM attached in the November 14, 2012 submission.

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Authorizing Statute(s): US Code: 7 USC 2, 5, 6, 6c,7, 7a-2, 12a Name of Law: CEA
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 Sec 124 Stat 1376 (2010) Name of Law: Dodd-Frank Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3038-AD09	Final or interim final rulemaking	78 FR 68506	11/14/2013

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
Part 38 - Designated Contract Markets	3038-0052	Form DCM (Contract Market Application or Amendment to Application for Designation)
Enhancing Protections Afforded Customers and Customer Funds Held by Futures Commission Merchants and Derivatives Clearing Organizations

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ICR Summary of Burden

	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	105	90	0	15	0	0
Annual Time Burden (Hours)	8,670	7,920	0	750	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to: Changing Regulations

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

Burden Reduction Due to:

Short Statement: This collection retains the hourly burden of the original and subsequently amended 3038-0052 collection and includes additional 50 hourly collection time for the inclusion of swaps that will be allowed to be transacted on a DCM and for compliance with additional core principles.

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Annual Cost to Federal Government: $120,000

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? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

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

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

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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: 11/14/2013

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