Regulation of Domestic Exchange-Traded Options

Forms and Documents

Document Name	Status
PRA 3038-0007 (2015) Supporting Statement - 2015.06.29.doc Supporting Statement A	2015-08-13
3038-0007 60-day FR 2015.pdf Supplementary Document	2015-07-13

IC Document Collections

IC ID	Document Title	Status
29011	Regulation of Domestic Exchange-Traded Options	Modified

ICR Details

OMB Control No: 3038-0007	ICR Reference No: 201507-3038-007
Status: Historical Active	Previous ICR Reference No: 201112-3038-014
Agency/Subagency: CFTC	Agency Tracking No:
Title: Regulation of Domestic Exchange-Traded Options
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: 10/21/2015
	Date Received in OIRA: 08/27/2015
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2018	36 Months From Approved	10/31/2015
Responses	21,155	0	13,996
Time Burden (Hours)	48,564	0	6,004
Cost Burden (Dollars)	0	0	0

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Abstract: The rules require futures commission merchants and introducing brokers to provide their customers with a standard disclosure statement describing some of the risks of trading commodity options and to retain all promotional material. The rules also contain procedures for contract market designation and requirements for notifying option grantors when options have been exercised.

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Authorizing Statute(s): US Code: 7 USC 2 Name of Law: Reg. of Domestic Exchange-Traded Options
   US Code: 7 USC 6, 6c, 6d, 6f Name of Law: Reg. of Domestic Exchange Traded Options
   US Code: 7 USC 7 Name of Law: Reg. of Domestic Exchange-Trade Options
   US Code: 7 USC 12(a) (5) Name of Law: Reg. of Domestic Exchange-Traded Options
   US Code: 7 USC 5 Name of Law: Domestic Exchange-Traded Options
  

Citations for New Statutory Requirements: US Code: 7 USC 2 Name of Law: Reg. of Domestic Exchange-Traded Options
US Code: 7 USC 6, 6c, 6d, 6f Name of Law: Reg. of Domestic Exchange-Traded Options
US Code: 7 USC 7 Name of Law: Reg. of Domestic Exchange-Traded Options
US Code: 7 USC 12(a)(5) Name of Law: Reg. of Domestic Exchange-Traded Options
US Code: 7 USC 5 Name of Law: Domestic Exchange-Traded Options

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

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	80 FR 33490	06/12/2015
30-day Notice:	Federal Register Citation:	Citation Date:
	80 FR 52035	08/27/2015
Did the Agency receive public comments on this ICR? No

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

IC Title	Form No.	Form Name
Regulation of Domestic Exchange-Traded Options

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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	21,155	13,996	0	7,159	0	0
Annual Time Burden (Hours)	48,564	6,004	0	42,560	0	0
Annual Cost Burden (Dollars)	0	0	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: The number of anticipated respondents has increased based on the known numbers of CFTC registrants who are a futures commission merchants or an introducing brokers.

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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? Yes

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: 08/27/2015

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