Swap Dealer and Major Swap Participant Conflicts of Interest and Business Conduct Standards with Counterparties

Forms and Documents

Document Name	Status
30-day FRN (9-20-17).pdf Supplementary Document	2017-09-20
(3038-0079) Final Supporting Statement (2017).doc Supporting Statement A	2017-09-19
60-day FRN (6-20-17).pdf Supplementary Document	2017-09-18

IC Document Collections

IC ID	Document Title	Status
195307	Swap Dealer and Major Swap Participant Conflicts of Interest and Business Conduct Standards with Counterparties	Modified

ICR Details

OMB Control No: 3038-0079	ICR Reference No: 201709-3038-004
Status: Historical Active	Previous ICR Reference No: 201510-3038-003
Agency/Subagency: CFTC	Agency Tracking No:
Title: Swap Dealer and Major Swap Participant Conflicts of Interest and Business Conduct Standards with Counterparties
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 11/25/2017
	Date Received in OIRA: 09/20/2017
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2020	36 Months From Approved	12/31/2018
Responses	137,088	0	10,750
Time Burden (Hours)	240,000	0	5,562
Cost Burden (Dollars)	0	0	0

---

Abstract: The Commission has adopted Subpart H of Part 23 of its regulations (EBCS Rules) and Commission regulation 23.605, requiring swap dealers and major swap participants to follow specified procedures and provide specified diclosures in their dealings with counterparties, to adopt and implement conflicts of interest procedures and disclosures, and to maintain specified records related to those requirements. The information collection obligations imposed by the regulations are essential to ensuring that swap dealers and major swap participants develop and maintain procedures and disclosures required by the CEA and Commission regulations.

---

Authorizing Statute(s): US Code: 7 USC 6s(h); 6s(j)(5) Name of Law: Commodity Exchange Act
  

Citations for New Statutory Requirements: None

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	82 FR 28050	06/20/2017
30-day Notice:	Federal Register Citation:	Citation Date:
	82 FR 43946	09/20/2017
Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Swap Dealer and Major Swap Participant Conflicts of Interest and Business Conduct Standards with Counterparties

---

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	137,088	10,750	0	126,338	0	0
Annual Time Burden (Hours)	240,000	5,562	0	234,438	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The Commission is amending the information collection under OMB Control No. 3038–0079 to clearly reflect the paperwork burden imposed by the EBCS Rules. The collections of information contained in the EBCS rules are necessary to implement requirements set forth in the Dodd-Frank Act and for the protection of investors and market participants.

---

Annual Cost to Federal Government: $0

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.     No

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.     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

---

Common Form ICR:  No

---

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: 09/20/2017

---