Adaptation of Regulations to Incorporate Swaps-Records of Transactions

Forms and Documents

Document Name	Status
Justification for Change (7-2015).docx Justification for No Material/Nonsubstantive Change	2015-07-10
12-20-12 PRA Supporting Stmt Adaptation--Records of Transactions Final R (2).docx Supporting Statement A	2015-07-10

IC Document Collections

IC ID	Document Title	Status
211721	Exclusion of Utility Operations-Related Swaps with Utility Special Entities from De Minimis Threshold for Swaps with Special Entities	Unchanged
197643	Adaptation of Regulations to Incorporate Swaps-Records of Transactions	Modified

ICR Details

OMB Control No: 3038-0090	ICR Reference No: 201507-3038-006
Status: Historical Active	Previous ICR Reference No: 201409-3038-005
Agency/Subagency: CFTC	Agency Tracking No:
Title: Adaptation of Regulations to Incorporate Swaps-Records of Transactions
Type of Information Collection: No material or nonsubstantive change to a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 07/15/2015
	Date Received in OIRA: 07/10/2015
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2017	12/31/2017	12/31/2017
Responses	8,000	0	8,000
Time Burden (Hours)	474,599	0	1,005
Cost Burden (Dollars)	211,124,700	0	211,124,700

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Abstract: The Commission needs persons who claim the de minimis exception to the swap dealer definition to keep and maintain records or documentation, including any written representations obtained from utility special entities. The information will be used by the person, except where a question arises as to the person's eligibility, when the Commission will also use the information.

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Authorizing Statute(s): US Code: 7 USC 1a, 6r, 6s, 12a Name of Law: CEA
   PL: Pub.L. 111 - 203 124 Stat. 1376 (2010) Name of Law: Dodd - Frank 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-AE19	Final or interim final rulemaking	79 FR 57767	09/26/2014

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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

IC Title	Form No.	Form Name
Adaptation of Regulations to Incorporate Swaps-Records of Transactions
Exclusion of Utility Operations-Related Swaps with Utility Special Entities from De Minimis Threshold for Swaps with Special Entities

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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	8,000	8,000	0	0	0	0
Annual Time Burden (Hours)	474,599	1,005	0	473,594	0	0
Annual Cost Burden (Dollars)	211,124,700	211,124,700	0	0	0	0

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

Burden Increase Due to: Miscellaneous Actions

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

Burden Reduction Due to:

Short Statement: An error in the data entry for the burden hours for the collection was inadvertently made when the collection was amended in 2013, which shows the time burden of only 5 hours. The final rule published in the Federal Register associated with the 2013 amendment to OMB control number 3038-0090 reflects the accurate burden hours estimate of 5 hours per respondent, for a total of 30,000 burden hours. Thus, the OMB control number is being revised to show the correct burden hours, including the total inventory for the OMB control number.

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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: 07/10/2015

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