Exemptions from Speculative Limits

Forms and Documents

Document	Type	Status	Availability
Aggregation 150 4 Supporting Statement_0013.docx	Supporting Statement A	Uploaded 2013-11-15	Repair queued

IC Document Collections

IC ID	Collection	Type	Status	Form
29025	Exemptions from Speculative Limits		Unchanged
209357	Aggregation of Positions		New

ICR Details

OMB Control No: 3038-0013	ICR Reference No: 201311-3038-006
Status: Historical Inactive	Previous ICR Reference No: 201109-3038-001
Agency/Subagency: CFTC	Agency Tracking No:
Title: Exemptions from Speculative Limits
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule and continue	Conclusion Date: 06/16/2014
	Date Received in OIRA: 11/15/2013
Terms of Clearance: Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR. The agency shall examine public comment in response to the NPRM and will describe in the supporting statement of its next collection any public comments received regarding the collection as well as why (or why it did not) incorporate the commenter’s recommendation. The next submission to OMB must include the draft final rule.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2014	36 Months From Approved	12/31/2014
Responses	16	0	16
Time Burden (Hours)	48	0	48
Cost Burden (Dollars)	0	0	0

---

Abstract: The Commission is proposing substantive changes to its longstanding policies regarding the aggregation of accounts in order to determine compliance with speculative position limits. Congress mandated in Section 4a(a)(2) and 4a(a)(5) of the Commodity Exchange Act that the Commission establish federal limits on speculative trading with regard to physical commodity futures contracts (and options) along with swaps that are economically equivalent to such futures. The aggregation of accounts is an essential element of the position limits regime, as it prevents circumvention of the limits through multiple owned entities trading in sync.

---

Authorizing Statute(s): US Code: 7 USC 6a Name of Law: Excessive Speculation
  

Citations for New Statutory Requirements: None

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3038-AD82	Proposed rulemaking	78 FR 68946	11/15/2013

---

Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

---

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

IC Title	Form No.	Form Name
Exemptions from Speculative Limits
Aggregation of Positions

---

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 proposed changes to the Commission's aggregation policies may result in an increase in PRA burden due to an increase in exemptive relief. Under the Commission's proposed rules, respondents must submit a notice to the Commission describing their eligibility for a particular exemption in order to receive relief.

---

Annual Cost to Federal Government: $39,780

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

---

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: 11/15/2013

---