This ICR covers the Commodity Futures
Trading Commission (“Commission” or “CFTC”) amendments to its Form
8-R. The 8-R is the application form that individuals must use to
register with the Commission as an associated person of a
registrant, floor broker, or floor trader, or to be listed as a
principal of a registrant (collectively, “applicants”). 17 CFR
3.10(a)(2), 3.11(a), and 3.12(c). Form 8-R requests information
about the applicant that is necessary to assess the applicant’s
fitness to engage in business as a derivatives professional,
subject to regulation and oversight by the Commission. Individual
applicants have been required to use Form 8-R since 1977. Revision
of Registration Forms and Amendment of Related Rules, 42 FR 23988
(May 11, 1977) (Form 8-R replaced Forms 2-R, 4-R and 94). This ICR
also addresses the implications of the Form 3-R cancellation. With
regards to the Alternative to Fingerprinting Requirement For
Foreign Natural Persons: the alternative to fingerprinting
recognized the limitations on usefulness of fingerprints of foreign
nationals while also ensuring the continued protection of market
participants and the public through submission of a certification
to NFA relating to the background check of the relevant foreign
natural person and maintainance of records relating thereto
pursuant to Commission regulation 3.21. With regards to Commodity
Pool Operators and Commodity Trading Advisors; Amendments to
Compliance Obligations: This collection covers the Commodity
Futures Trading Commission's data collection authority for CPO's
and CTAs, that are consistent with the data collection required
under Title IV of the Dodd-Frank Wall Street Reform and Consumer
Protection Act, for entities registered with both the Commission
and the Securities and Exchange Commission.
Existing collections 3038-0023
and 3038-0072 (1st ICs respectively) are being amended to reflect a
modest increase in the information collection burdens associated
with the new version of Form 8-R. The collection burden associated
with the new version of Form 8-R increased by 0.10 hours, resulting
in a new collection burden of 0.9 hours for Form 8-R. In addition,
an additional .10 hours from the burden associated with the
cancelled Form 3-R, has been reassigned to Form 8-R. Thus, the new
burden for Form 8-R is estimated to be 1 hour. However, the total
burden estimate reflects the average number of hours per response
across all of the registration forms (Forms 7-R, 8-R, 7-W, and
8-T), which is consistent with the historical practice of the
Commission of addressing the burden estimates in aggregate, rather
than separately on a form-by-form basis. The Commission is also
amending collections 3038-0023 and 3038-0072 to decrease the number
of responses to more accurately reflect that Form 8-R is one of
four Commission registration forms (Forms 7-R, 8-R, 7-W, and 8-T),
all of which are filed on an “as needed” basis, upon registering or
when registration information changes, including withdrawal of
registration.
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:
(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;
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.
Form Form 7-R Commodity Pool Operators and Commodity Trading Advisors: Amendments to Compliance Obligations
Notice with Form 8-R.pdf
Form 8-R PRA Supporting Stmt 11-26-18.doc
Alternative to Fingerprinting Requirement For Foreign Natural Persons