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 Registration of Swap Dealers and Major Swap
Participants: Section 731(b) of the Dodd-Frank Act requires swap
dealers and major swap participants to register with the
Commission. Section 731(d) of the Dodd-Frank Act requires the
Commission to adopt rules for persons that are registered as swap
dealers or major swap participants. The Collections are in
connection with the registration process for registering swap
dealers and major swap participants. 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.
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 more accurately
reflect the number of responses accross the 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 8-T Registration of Swap Dealers and Major Swap Participants
Notice with Form 8-R.pdf
Form 8-R PRA Supporting Stmt 11-26-18.doc
Alternative to Figerprinting Requirement For Foreign Natural Persons