Swap Data Access Provisions of Part 49 and Certain Other Matters

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Supporting Statement Indemn NPRM 3038-0086 Updated 03 27 2017 FINAL.docx	Supporting Statement A	Uploaded 2017-05-02	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
195635	Swap Data Access Provisions of Part 49 and Certain Other Matters		Modified

ICR Details

OMB Control No: 3038-0086	ICR Reference No: 201611-3038-004
Status: Historical Inactive	Previous ICR Reference No: 201503-3038-001
Agency/Subagency: CFTC	Agency Tracking No:
Title: Swap Data Access Provisions of Part 49 and Certain Other Matters
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: 06/28/2017
	Date Received in OIRA: 01/25/2017
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.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2018	36 Months From Approved	11/30/2018
Responses	7,209,330,000	0	7,209,330,000
Time Burden (Hours)	340,230	0	340,230
Cost Burden (Dollars)	80,978,370	0	80,978,370

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Abstract: CEA § 21(c)(7) directs SDRs to make swap data available “on a confidential basis pursuant to [CEA §] 8” to certain enumerated domestic authorities and any other person the CFTC determines to be appropriate, which may include certain types of foreign authorities. CEA § 21(d) mandates that, prior to receiving any requested data or information from a swap data repository (“SDR”), an authority seeking SDR swap data access agree in writing to abide by the confidentiality requirements described in CEA § 8. CEA § 8 describes circumstances under which public disclosure of information in the Commission’s possession is permitted and prohibited. The collection is designed to elicit information from authorities seeking SDR swap data access (including information regarding the scope of their jurisdiction and the measures they will have in place to safeguard the confidentiality of SDR swap data) to enable the CFTC to determine whether applicants are appropriate recipients of such data. The collection is designed to alert the Commission to circumstances in which SDR swap data recipients seek to, have or may receive SDR swap data outside the scope of their jurisdiction. Authorities would use SDR swap data for purposes within the scope of their jurisdiction. .

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Authorizing Statute(s): US Code: 7 USC 24a Name of Law: Swap Data Repositories
   US Code: 7 USC 12a(5) Name of Law: Registration of Commodity Dealers and Associated Persons
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3038-AE44	Proposed rulemaking	82 FR 8369	01/25/2017

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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

table that charts list of burden

IC Title	Form No.	Form Name
Swap Data Access Provisions of Part 49 and Certain Other Matters

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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 present submission includes a reduction in burden hours to account for (1) reducing the estimated number of SDRs from six to four, to more accurately reflect the current state of the market (i.e., there are four registered SDRs), (2) a proposed reduction in the scope of one reporting requirement and (3) implementation of the FAST Act, which removed the statutory requirement that an appropriate domestic regulator (“ADR”) or appropriate foreign regulator (“AFR”) indemnify the Commission and each relevant SDR for all expenses arising from litigation relating to the information provided by the SDR under section 8. The present submission also includes an increase in burden hours to account for (1) a proposed rule that would require SDRs to incur costs to ensure that swap data provided to ADRs or AFRs is within the scope of the requesting entity’s jurisdiction, (2) proposed recordkeeping requirements and (3) proposed new reporting requirements.

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Annual Cost to Federal Government: $5,428,930

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: 01/25/2017

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