Regulations and Forms Pertaining to Financial Integrity of the Market Place; Margin and Captial Requirements for SDs/MSPs

Forms and Documents

Document Name	Status
Form 1-FR-FCM Regulations and Forms Pertaining to Financial Integrity of the Market Place Form	Unchanged
Supporting Statement 3038-0024 12 01 16.docx Supporting Statement A	2016-12-01

IC Document Collections

IC ID	Document Title	Status
29065	Regulations and Forms Pertaining to Financial Integrity of the Market Place Form	Unchanged
224680	Capital Requirements of Swap Dealers and Major Swap Participants	New
213122	Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants	Unchanged

ICR Details

OMB Control No: 3038-0024	ICR Reference No: 201612-3038-002
Status: Historical Inactive	Previous ICR Reference No: 201512-3038-007
Agency/Subagency: CFTC	Agency Tracking No:
Title: Regulations and Forms Pertaining to Financial Integrity of the Market Place; Margin and Captial Requirements for SDs/MSPs
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: 08/18/2017
	Date Received in OIRA: 12/16/2016
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	05/31/2019	36 Months From Approved	08/31/2019
Responses	95,533	0	95,533
Time Burden (Hours)	56,102	0	56,102
Cost Burden (Dollars)	0	0	0

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Abstract: Section 731 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”), P.L. 111-203, 124 stat. 1376, amended the Commodity Exchange Act (“CEA”), 7 U.S.C. §§ 1 et seq., to add, as section 4s(e) thereof, provisions concerning the setting of minimum capital requirements for swap dealers (“SDs”) and major swap participants (“MSPs”). Accordingly, this collection is being amended to reflect the reporting and recordkeeping requirements associated with the Commission’s proposed capital and margin rules for SDs and MSPs, as well as with proposed conforming rules for FCMs that will operate as SDs. The collections of information that are proposed by this rulemaking are necessary to implement Section 4s(e) of the CEA, which expressly requires the Commission to adopt rules governing capital requirements for SDs and MSPs. Also, the information and documentation requirements to make the capital comparability determinations would be necessary for the Commission to consider whether the requirements of the foreign rules are comparable to the applicable requirements of the Commission’s rules with respect to capital adequacy and financial reporting requirements for SDs or MSPs.

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Authorizing Statute(s): US Code: 7 USC 9,9a,12,12a,13b,13c,16a,18, Name of Law: CEA
   US Code: 7 USC 19,21 Name of Law: CEA
   US Code: 7 USC 1a,2,6,6a,6b,6b-1,6c,6p,6r,6t, Name of Law: CEA
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 124 Stat. 1376 (2010) Name of Law: Dodd Frank Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3038-AD54	Proposed rulemaking	81 FR 91252	12/16/2016

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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: 3

IC Title	Form No.	Form Name
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
Capital Requirements of Swap Dealers and Major Swap Participants
Regulations and Forms Pertaining to Financial Integrity of the Market Place	1-FR-FCM	Statement of Financial Condition

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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: Section 731 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act"), P.L. 111-203, 124 stat. 1376, amended the Commodity Exchange Act ("CEA"), 7 U.S.C. §§ 1 et seq., to add, as section 4s(e) thereof, provisions concerning the setting of minimum capital requirements for swap dealers ("SDs") and major swap participants ("MSPs"). The regulations associated with Section 731 of Dodd Frank Act require collecting additional information from SDs and MSPs and are designed to enhance the safety and soundness of the markets which the Commission oversees and to enable the Commission to evaluate the soundness of the participants in those markets. Collection 3038-0024 is being amended to reflect these additional information requirements.

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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: 12/16/2016

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