Aggregations of Positions

Forms and Documents

Document Name	Status
Aggregation Supplemental NPRM Supporting Statement Attachment A_0013 (2).docx Supplementary Document	2015-10-13
Aggregation Supplemental NPRM PRA Supporting Statement 101315.docx Supporting Statement A	2015-10-13

IC Document Collections

IC ID	Document Title	Status
29025	Exemptions from Speculative Limits	Modified

ICR Details

OMB Control No: 3038-0013	ICR Reference No: 201510-3038-002
Status: Historical Inactive	Previous ICR Reference No: 201503-3038-002
Agency/Subagency: CFTC	Agency Tracking No:
Title: Aggregations of Positions
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: 12/02/2015
	Date Received in OIRA: 10/13/2015
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	10/31/2018	36 Months From Approved	10/31/2018
Responses	16	0	16
Time Burden (Hours)	48	0	48
Cost Burden (Dollars)	0	0	0

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Abstract: Section 4a(a) of the Commodity Exchange Act (Act) allows the Commission to set speculative limits in any commodity for future delivery in order to prevent excessive speculation. Market participants under the proposed rules must combine positions of owned entities for purposes of complying with speculative limits, but the proposed rules also provide for certain exemptions. The reporting and record-keeping requirements proposed would be used by the Commission generally and by Commission surveillance staff in particular to verify the aggregation of positions across multiple entities, and for general surveillance purposes. This additional data would allow the Commission to understand how market participants are applying exemptions, ensure the proper application of such exemptions, and provide the Commission with information to adjust exemptions in the future.

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

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3038-AD82	Proposed rulemaking	80 FR 88	09/29/2015

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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: 1

IC Title	Form No.	Form Name
Exemptions from Speculative Limits

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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 increase in the collections of information will result from the Commission proposing to expand exemptions from aggregation and to require certain reports from market participants seeking to take advantage of such exemptions. The Commission is now supplementing its November 2013 proposal to modify the procedures that market participants would have to follow in order to take advantage of certain exemptions. This modification would slightly decrease the burden on market participants arising from the collections of information as compared to the November 2013 aggregation proposal, but increase burdens overall.

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Annual Cost to Federal Government: $3,520

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]? No

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: 10/13/2015

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