General Regulations and Derivatives Clearing Organizations

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
General Regulations and Derivatives Clearing Organizations-SIDCO and Subpart C DCO	Form and Instruction	Modified	Available
SIDCO-Supart C DCOs Supporting Statement Final Rule.doc	Supporting Statement A	Uploaded 2013-11-15	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
208221	General Regulations and Derivatives Clearing Organizations-SIDCO and Subpart C DCO	Form and Instruction	Modified
195608	General Regulations and Derivatives Clearing Organizations		Unchanged

ICR Details

OMB Control No: 3038-0081	ICR Reference No: 201311-3038-002
Status: Historical Active	Previous ICR Reference No: 201308-3038-002
Agency/Subagency: CFTC	Agency Tracking No:
Title: General Regulations and Derivatives Clearing Organizations
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: 12/02/2013
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2017	36 Months From Approved	02/28/2015
Responses	1,024	0	12
Time Burden (Hours)	18,472	0	960
Cost Burden (Dollars)	97,000	0	97,000

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Abstract: The Commission is adopting amendments to its regulations to establish additional standards for compliance with the derivatives clearing organization (DCO) core principles set forth in Section 5b(c)(2) of the Commodity Exchange Act for systemically important DCOs (SIDCOs) and DCOs that elect to opt-in to the SIDCO regulatory requirements which are consistent with certain international standards. Specifically, the additional requirements address any remaining gaps between the Commission's existing regulations and the Principles for Financial Market Infrastructures published by the Committee on Payment and Settlement Systems and the Board of the International Organization of Securities Commissions. The regulations include recordkeeping and reporting requirements that would be collections of information requiring approval under the PRA, which is being sought by amending collection 3038-0081.

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Authorizing Statute(s): PL: Pub.L. 111 - 203 124 Stat. 1376 (2010) Name of Law: Dodd-Frank Act
   US Code: 7 USC 2, 7a-1 and 12a Name of Law: Commodity Exchange Act
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 124 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-AE06	Final or interim final rulemaking	78 FR 72476	12/02/2013

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? Yes

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

table that charts list of burden

IC Title	Form No.	Form Name
General Regulations and Derivatives Clearing Organizations-SIDCO and Subpart C DCO	N/A	Subpart C Election Form
General Regulations and Derivatives Clearing Organizations

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ICR Summary of Burden

table that charts list 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	1,024	12	0	1,012	0	0
Annual Time Burden (Hours)	18,472	960	0	17,512	0	0
Annual Cost Burden (Dollars)	97,000	97,000	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: The Commission is adopting the SIDCO/Subpart C DCO regulations to establish additional standards for compliance with the derivatives clearing organization (DCO) core principles set forth in Section 5b(c)(2) of the Commodity Exchange Act for systemically important DCOs (SIDCOs) and DCOs that elect to opt-in to the SIDCO regulatory requirements. The additional requirements would address any remaining gaps between the Commission's existing regulations and relevant international standards, namely, the Principles for Financial Market Infrastructures published by the Committee on Payment and Settlement Systems and the Board of the International Organization of Securities Commissions. The regulations include recordkeeping and reporting requirements that are collections of information requiring approval under the PRA, which is being sought by amending collection 3038-0081. The final Supporting Statement includes certain burden hours that were fully accounted for the in the PRA portion of the preambles to the notice of proposed rulemaking (NPRM) and the final regulations, but were inadvertently omitted in the burden hours listed in the NPRM's Supporting Statement and when entered into ROCIS at the proposal stage. The final Supporting Statement also includes corresponding changes to the numbers of total responses and burden hours.

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Annual Cost to Federal Government: $156,464

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: 12/02/2013

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