Conflict of interest Policies and Procedures by Swap Dealers and Major Swap Participants

Forms and Documents

Document	Type	Status	Availability
Supporting Statement 3038-0079.doc	Supporting Statement A	Uploaded 2015-10-19	Available
60-day Notice 3038-0079.pdf	Supplementary Document	Uploaded 2015-10-19	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
195307	Conflict of interest Polocies and Procedures by Swap Dealers and Major Swap Participants		Modified

ICR Details

OMB Control No: 3038-0079	ICR Reference No: 201510-3038-003
Status: Historical Active	Previous ICR Reference No: 201202-3038-008
Agency/Subagency: CFTC	Agency Tracking No:
Title: Conflict of interest Policies and Procedures by Swap Dealers and Major Swap Participants
Type of Information Collection: Reinstatement without change of a previously approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 12/04/2015
	Date Received in OIRA: 10/19/2015
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2018	36 Months From Approved
Responses	10,750	0	0
Time Burden (Hours)	5,562	0	0
Cost Burden (Dollars)	0	0	0

---

Abstract: On April 3, 2012 the Commission adopted Commission regulation 23.605 (Conflicts of interest policies and procedures) under section 4s(j)(5) of the Commodity Exchange Act (“CEA”). Commission regulation 23.605 requires, among other things, that swap dealers (“SD”) and major swap participants (“MSP”) adopt and implement conflicts of interest procedures and disclosures, establish written policies and procedures reasonably designed to ensure compliance with the conflicts of interest and disclosure obligations within the regulations, and maintain specified records related to those requirements. The Commission believes that the information collection obligations imposed by Commission regulation 23.605 are essential to ensuring that SDs and MSPs develop and maintain the conflicts of interest systems, procedures and disclosures required by the CEA and Commission regulations, and to the effective evaluation of these registrants’ actual compliance with the CEA and Commission regulations

---

Authorizing Statute(s): 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

---

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:
	80 FR 47478	10/07/2015
30-day Notice:	Federal Register Citation:	Citation Date:
	80 FR 63202	10/19/2015
Did the Agency receive public comments on this ICR? No

---

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

IC Title	Form No.	Form Name
Conflict of interest Polocies and Procedures by Swap Dealers and Major Swap Participants

---

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	10,750	0	0	0	0	10,750
Annual Time Burden (Hours)	5,562	0	0	-1	0	5,563
Annual Cost Burden (Dollars)	0	0	0	-556,250	0	556,250

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: The decrease in burden reflects a rounding down of the burden hours and reflects the accurate estimate of burden hour costs.

---

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

---

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: 10/19/2015

---