Registration of Swap Dealers and Major Swap Participants

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form 7W Firm Withdrawal	Form and Instruction	Modified	Available
Form 7 - R Firm Application	Form and Instruction	Modified	Available
Form 3-R Changes and Corrections in Registration Information	Form and Instruction	Modified	Available
Form 8-T Individual Withdrawal	Form and Instruction	Modified	Available
Form 8-R Individual Application	Form and Instruction	Modified	Available
PRA Supporting Statement (X-Border Counting Updating Registration PRA Burden) (10-4-2016) (2).docx	Supporting Statement A	Uploaded 2016-10-07	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
219445	Alternative to Figerprinting Requirement For Foreign Natural Persons		Unchanged
195292	Registration of Swap Dealers and Major Swap Participants	Form and Instruction	Modified	Firm Withdrawal
195292	Registration of Swap Dealers and Major Swap Participants	Form and Instruction	Modified	Firm Application
195292	Registration of Swap Dealers and Major Swap Participants	Form and Instruction	Modified	Changes and Corrections in Registration Information
195292	Registration of Swap Dealers and Major Swap Participants	Form and Instruction	Modified	Individual Withdrawal
195292	Registration of Swap Dealers and Major Swap Participants	Form and Instruction	Modified	Individual Application

ICR Details

OMB Control No: 3038-0072	ICR Reference No: 201610-3038-001
Status: Historical Inactive	Previous ICR Reference No: 201603-3038-006
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: 01/19/2017
Retrieve Notice of Action (NOA)	Date Received in OIRA: 10/18/2016
Terms of Clearance: As agreed to and prior to usage, the forms must be updated to reflect CFTC’s name in a more prominent location, correct OMB number also in a prominent location, revised expiration dates, and revised burden.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2019	36 Months From Approved	06/30/2019
Responses	772	0	772
Time Burden (Hours)	634	0	634
Cost Burden (Dollars)	16,225	0	16,225

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Abstract: Section 731(b) of the Dodd-Frank Act added CEA Sections 4s(a) and 4s(b), which require Swaps Entities to register with the Commodity Futures Trading Commission (“Commission”). Section 731(d) of the Dodd-Frank Act requires the Commission to adopt rules for registered swaps entities, and CEA Section 4s(b)(2) states that a Swaps Entity registration application shall be made in the form and manner prescribed by the Commission. The Commission therefore adopted regulations (“Swaps Entity Registration Regulations”) regarding the process for registering Swaps Entities with the Commission. The Commission has adopted a proposal that provides for the cross-border application of the SD and MSP registration thresholds and the Commission’s external business conduct standards. The collections required by the proposal are necessary to implement the Dodd-Frank Act’s registration provisions and the cross-border swap provisions that expressly apply to activities that have a direct and significant connection with activities in, or effect on, U.S. commerce or that contravene Commission rules or regulations as necessary or appropriate to prevent evasion.

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Authorizing Statute(s): US Code: 7 USC 2, 6s Name of Law: CEA
   PL: Pub.L. 111 - 203 124 Stat. 1376 (2010) Name of Law: Dodd-Frank Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3038-AE54	Proposed rulemaking	81 FR 71946	10/18/2016

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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

table that charts list of burden

IC Title	Form No.	Form Name
Alternative to Figerprinting Requirement For Foreign Natural Persons
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

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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 Rule provides for the cross-border application of the SD and MSP registration thresholds and the Commission’s external business conduct standards. The Commission estimates that if the Proposed Rule is adopted, 14 new unregistered non-U.S. persons may be classified as “Foreign Consolidated Subsidiaries” and required to register as new SDs because their swap dealing transactions would be in excess of the SD de minimis threshold.

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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: 10/18/2016

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