Swap Data Access Provisions of Part 49 and Certain Other Matters

Forms and Documents

Document	Type	Status	Availability
Supporting Statement (2) 0086 Part 49 Final rule (2018).docx	Supporting Statement A	Uploaded 2018-06-05	Available

IC Document Collections

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: 201804-3038-010
Status: Active	Previous ICR Reference No: 201611-3038-004
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: Approved with change	Conclusion Date: 11/02/2018
	Date Received in OIRA: 06/12/2018
Terms of Clearance: OMB approves this package for a period of three years on the condition that future supporting statements submitted by the CFTC include detailed tables showing the anticipated number of respondents, burden hours, cost burden,and any marginal changes from the previous package (if applicable). These tables should also summarize the total burden associated with all requirements specified in the package. Summary burden tables should be easily comparable to the burden estimates displayed in ROCIS.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2021	36 Months From Approved	11/30/2018
Responses	4,800,003,136	0	7,209,330,000
Time Burden (Hours)	184,690	0	340,230
Cost Burden (Dollars)	61,904,104	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 12a(5) Name of Law: Registration of Commodity Dealers and Associated Persons
   US Code: 7 USC 24a Name of Law: Swap Data Repositories
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3038-AE44	Final or interim final rulemaking	83 FR 27410	06/12/2018

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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

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

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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	4,800,003,136	7,209,330,000	0	0	-2,409,326,864	0
Annual Time Burden (Hours)	184,690	340,230	0	0	-155,540	0
Annual Cost Burden (Dollars)	61,904,104	80,978,370	0	0	-19,074,266	0

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: No

Burden Reduction Due to:

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 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 rule that will 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) new recordkeeping requirements, (3) new reporting requirements and (4) comments received, which the Commission incorporated herein, in response to the Commission’s proposed burden hour increase, stating that the Commission’s proposed burden hour increase underestimated the actual burden hours that would be imposed.

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

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

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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: 06/12/2018

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