Exemptions from Speculative Limits

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form 204 Position Limits for Derivatives, Reproposal	Form and Instruction	New	Available
Position Limits Reproposal SUPPORTING STATEMENT for OMB Collection No. 3038-0013 (Dec 2016).docx	Supporting Statement A	Uploaded 2017-06-13	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
29025	Exemptions from Speculative Limits		Unchanged
227174	Position Limits for Derivatives, Reproposal	Form and Instruction	New
226084	Regulation Automated Trading Supplemental	Other-NPRM	New

ICR Details

OMB Control No: 3038-0013	ICR Reference No: 201703-3038-003
Status: Historical Inactive	Previous ICR Reference No: 201612-3038-006
Agency/Subagency: CFTC	Agency Tracking No:
Title: Exemptions from Speculative Limits
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: 09/26/2017
	Date Received in OIRA: 06/13/2017
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	03/31/2020	36 Months From Approved	03/31/2020
Responses	340	0	340
Time Burden (Hours)	6,850	0	6,850
Cost Burden (Dollars)	1,088,000	0	1,088,000

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Abstract: Section 4a of the CEA and the proposed rules adopted thereunder are designed to prevent excessive speculation and manipulation in a manner, in the Commission’s discretion, that maximizes the goals of preserving market liquidity for bona fide hedgers while protecting the price discovery process. The Commission is imposing additional reporting and record-keeping requirements on various market participants in order to establish an effective, efficient and comprehensive position limits regime. The collections of information contained in this rulemaking are necessary for the Commission to, among other things, establish the size of an applicable speculative position limit, establish an exemption process for certain positions, and improve the Commission’s ability generally to monitor and surveil the markets. [NEXT PARAGRAPH FOR "Position Limits for Derivatives" REPROPOSAL.] The reproposed rulemaking--"Position Limits for Derivatives"--affects two separate collections of information currently approved by OMB: OMB Control No. 3038-0009 and OMB Control No. 3038-0013. The Commission is proposing to reorganize the information found in the OMB Collection Numbers associated with its position limits regulations. In particular, the Commission proposes that the burdens related to series ’04 forms be moved from OMB Collection #3038-0009 to OMB Collection #3038-0013. This change is non-substantive but allows for all information collections related to exemptions from speculative position limits to be housed in one collection, making it simpler for market participants to know where to find the relevant PRA burdens. If adopted , OMB Collection #3038-0009 would hold collections of information related to parts 15, 17, and 18-20 while OMB Collection #3038-0013 would hold collections of information related to parts 19 and 150.

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Authorizing Statute(s): US Code: 7 USC 6a Name of Law: Excessive Speculation
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3038-AD99	Proposed rulemaking	81 FR 96704	12/30/2016

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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

table that charts list of burden

IC Title	Form No.	Form Name
Regulation Automated Trading Supplemental	8R, NFR Form 7-R	NFR Registration form ,   NFA Registration Form 8 R
Exemptions from Speculative Limits
Position Limits for Derivatives, Reproposal	204, 304	Reporposed Postion Limits ,   Reproposed Postion Limits

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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 rulemaking--that is the subject of this collection --affects two separate collections of information currently approved by OMB: OMB Control No. 3038-0009 and OMB Control No. 3038-0013. The Commission is proposing to reorganize the information found in the OMB Collection Numbers associated with its position limits regulations. In particular, the Commission proposes that the burdens related to series ’04 forms be moved from OMB Collection #3038-0009 to OMB Collection #3038-0013. This change is non-substantive but allows for all information collections related to exemptions from speculative position limits to be housed in one collection, making it simpler for market participants to know where to find the relevant PRA burdens. If adopted , OMB Collection #3038-0009 would hold collections of information related to parts 15, 17, and 18-20 while OMB Collection #3038-0013 would hold collections of information related to parts 19 and 150.

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Annual Cost to Federal Government: $3,520

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.    

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.    

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: 06/13/2017

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