Regulations and Forms Pertaining to Financial Integrity of the Market Place

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form 1-FR-FCM Statement of Financial Condition	Form	Modified	Available
uncleared margin PRA supporting statement Proposal 9-18-14 (2).docx	Supporting Statement A	Uploaded 2014-09-19	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
29065	Regulations and Forms Pertaining to Financial Integrity of the Market Place	Form	Modified	Statement of Financial Condition
213122	Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants		New

ICR Details

OMB Control No: 3038-0024	ICR Reference No: 201409-3038-006
Status: Historical Inactive	Previous ICR Reference No: 201310-3038-008
Agency/Subagency: CFTC	Agency Tracking No:
Title: Regulations and Forms Pertaining to Financial Integrity of the Market Place
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: 10/24/2015
Retrieve Notice of Action (NOA)	Date Received in OIRA: 10/03/2014
Terms of Clearance: OMB files this comment in accordance with 5 CFR 1320.11( c ). This OMB action is not an approval to conduct or sponsor an information collection under the Paperwork Reduction Act of 1995. This action has no effect on any current approvals. If OMB has assigned this ICR a new OMB Control Number, the OMB Control Number will not appear in the active inventory. For future submissions of this information collection, reference the OMB Control Number provided. 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.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2017	36 Months From Approved	09/30/2017
Responses	95,479	0	95,479
Time Burden (Hours)	43,142	0	43,142
Cost Burden (Dollars)	0	0	0

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Abstract: The Commission is requesting respondents intending to use models to calculate initial margin obligations to document and submit the model for Commission approval. The Commission is also requiring notification upon the occurrence of certain material changes to the model. The collections of information that are proposed by this rulemaking are necessary to implement Section 4s(e) of the CEA, which expressly requires the Commission to adopt rules governing margin requirements for SDs and MSPs. The information required for the prior written approval of the margin model is needed to demonstrate that the model satisfied all of the requirements of proposed Regulation 23.154(b). These measures are intended to ensure the adequacy and soundness of the margin calculations and promote the protection of the swap market participants.

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

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-AC97	Proposed rulemaking	79 FR 59898	10/03/2014

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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

table that charts list of burden

IC Title	Form No.	Form Name
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
Regulations and Forms Pertaining to Financial Integrity of the Market Place	1-FR-FCM	Statement of Financial Condition

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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 regulations associated with Collection 3038-0024 are designed to enhance the safety and soundness of the markets which the Commission oversees and to enable the Commission to evaluate the soundness of the participants in those markets. Section 731 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act"), P.L. 111-203, 124 stat. 1376, amended the Commodity Exchange Act ("CEA"), 7 U.S.C. §§ 1 et seq., to add, as section 4s(e) thereof does, provisions concerning the setting of initial and variation margin requirements for swap dealers ("SDs") and major swap participants ("MSPs"). The Commission is proposing the margin rule to implement this section of 4s of the CEA to require SDs and MSPs that are using a model to compute initial margin requirements to submit the model for review and approval by the Commission. This collection of information will add additional burdens on an estimated 60 entities for a total of 14,400 hours annually.

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Annual Cost to Federal Government: $0

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: 10/03/2014

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