Registration of Swap Dealers and Major Swap Participants

Forms and Documents

Document	Type	Status	Availability
Form 8-R Registration of Swap Dealers and Major Swap Participants	Form and Instruction	Unchanged	Available
OMB Control No. 3038-0072 PRA Supporting Statement for Background Check Cert 12-21-15.doc	Supporting Statement A	Uploaded 2016-03-14	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
219445	Alternative to Figerprinting Requirement For Foreign Natural Persons		New
195292	Registration of Swap Dealers and Major Swap Participants	Form and Instruction	Unchanged

ICR Details

OMB Control No: 3038-0072	ICR Reference No: 201512-3038-015
Status: Historical Inactive	Previous ICR Reference No: 201502-3038-002
Agency/Subagency: CFTC	Agency Tracking No:
Title: Registration of Swap Dealers and Major Swap Participants
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: 03/18/2016
	Date Received in OIRA: 03/14/2016
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	07/31/2018	36 Months From Approved	07/31/2018
Responses	770	0	770
Time Burden (Hours)	629	0	629
Cost Burden (Dollars)	15,725	0	15,725

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Abstract: Section 731(b) of the Dodd-Frank Act requires swap dealers and major swap participants to register with the Commission. Section 731(d) of the Dodd-Frank Act requires the Commission to adopt rules for persons that are registered as swap dealers or major swap participants. The Collections are in connection with the registration process for registering swap dealers and major swap participants. The fingerprinting proposal generally codifies DSIO Staff Letters 12-49 and 13-29, thereby giving certainty to market participants while removing an impediment to participation in United States’ commodity interest markets by foreign natural persons. At the same time, it will ensure the protection of market participants and the general public by continuing to require that all futures and swaps industry professionals who deal with the public meet minimum standards of fitness and competency. One of the requirements of the proposal is that those availing themselves of it submit a certification to NFA relating to the background check of the relevant foreign natural person and maintain records relating thereto pursuant to Commission regulation 3.21.

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Authorizing Statute(s): PL: Pub.L. 111 - 203 124 Stat. 1376 (2010) Name of Law: Dodd-Frank Act
   US Code: 7 USC 6s Name of Law: CEA
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3038-AE16	Proposed rulemaking	81 FR 1359	01/12/2016

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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
Registration of Swap Dealers and Major Swap Participants	8-T, 3-R, 8-R, 7 - R, 7W	Individual Application ,   Individual Withdrawal ,   Changes and Corrections in Registration Information ,   Firm Application ,   Firm Withdrawal
Alternative to Figerprinting Requirement For Foreign Natural Persons

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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 proposed amendment to Regulation 3.21 would allow SDs and MSPs to elect to submit a certification in lieu of submitting a fingerprint card for certain foreign natural persons. The Commission estimates that the proposed rule will result in an aggregate burden hours increase of 5.0 hours (2 respondents X 2.5 hours/respondent).

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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: 03/14/2016

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