Regulation Pertaining to Financial Integrity of the Forex Market Place

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
0062 30-day FR notice 2014-28382.pdf	Supplementary Document	Uploaded 2014-12-02	Available
SUPPORTING STATEMENT 2014 renewal 12 01 14.docx	Supporting Statement A	Uploaded 2014-12-01	Available
2014-23263 Federal Register.pdf	Supplementary Document	Uploaded 2014-11-06	Available
0062 60-day PRA Notice 2014 Renewal.docx	Supplementary Document	Uploaded 2014-11-06	Available
0062 30-day PRA Notice 2014 Renewal (11.4.14).doc	Supplementary Document	Uploaded 2014-11-06	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
191703	Regulation Pertaining to Financial Integrity of the Forex Market Place		Modified

ICR Details

OMB Control No: 3038-0062	ICR Reference No: 201411-3038-002
Status: Historical Active	Previous ICR Reference No: 201112-3038-011
Agency/Subagency: CFTC	Agency Tracking No:
Title: Regulation Pertaining to Financial Integrity of the Forex Market Place
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: 01/30/2015
	Date Received in OIRA: 12/02/2014
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2018	36 Months From Approved	01/31/2015
Responses	3,260	0	4,493
Time Burden (Hours)	2,830	0	4,202
Cost Burden (Dollars)	124,548	0	0

---

Abstract: In June of 2008, the US Congress passed the Food, Conservation, and Energy Act of 2008, Pub. L. No. 110-246, 122 Stat. 1651,2189-2204 (2008). That Bill provided the CFTC with new authority with regard to the regulation of off-exchange retail forex transactions. Among other things, it directed the Commission to draft rules requiring the registration of counterparties offering off-exchange forex transactions to retail customers as either futures commission merchants (FCMs) or retail foreign exchange dealers (RFEDs). In response, the Commission enacted Part 5 of Title 17 of the Code of Federal Regulations which among other things, requires RFEDs and forex FCMs and IBs to: develop and distribute risk disclosure documents to all customers; provide early warning notices of failure to meet financial requirements; maintain records regarding material affiliates; file initial risk management policies and annual risk assessments; file initial financial statements by persons applying to be RFEDs and the filing of monthly statements thereafter; provide customers with monthly and trade confirmation statements; provide the Commission with copies of customer complaints and notice of certain legal proceedings in which they are involved; and provide the Commission with notice of bulk transfers and liquidations.

---

Authorizing Statute(s): PL: Pub.L. 110 - 246 122 Stat. 1651, 2189-2204 Name of Law: Food, Conservation and Energy Act of 2008
  

Citations for New Statutory Requirements: PL: Pub.L. 110 - 246 122 Stat., 1651, 2189-2204 Name of Law: Farm Bill

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 58751	09/30/2014
30-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 71400	12/02/2014
Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 1

table that charts list of burden

IC Title	Form No.	Form Name
Regulation Pertaining to Financial Integrity of the Forex Market Place

---

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	3,260	4,493	0	-1,233	0	0
Annual Time Burden (Hours)	2,830	4,202	0	-1,372	0	0
Annual Cost Burden (Dollars)	124,548	0	0	124,548	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to: Miscellaneous Actions

Short Statement: Annual responses changed due to a decrease of number of participants in the industry.

---

Annual Cost to Federal Government:

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: 12/02/2014

---