30-Day Federal Register Notice

2019 - 30-Day Federal Register Notice - 3038-0094.pdf

Clearing Member Risk Management

30-Day Federal Register Notice

OMB: 3038-0094

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15190

Federal Register / Vol. 84, No. 72 / Monday, April 15, 2019 / Notices

Magnuson-Stevens Fishery
Conservation and Management Act
(Magnuson-Stevens Act, 16 U.S.C. 1801
et seq.). Recreational anglers and
commercial hand-gear fishermen are
required to report specific information
regarding their catch of BFT.
Atlantic billfish and swordfish are
managed internationally by ICCAT and
nationally under ATCA and the
Magnuson-Stevens Act. This collection
provides information needed to monitor
the recreational catch of Atlantic blue
marlin, white marlin, and roundscale
spearfish, which is applied to the
recreational limit established by ICCAT,
and the recreational catch of North
Atlantic swordfish, which is applied to
the U.S. quota established by ICCAT.
This collection also provides
information on recreational landings of
West Atlantic sailfish, which is
unavailable from other established
monitoring programs.

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II. Method of Collection
Respondents reporting BFT catch in
states (and the United States Virgin
Islands and Puerto Rico) other than
Maryland and North Carolina may use
either an internet website, smartphone
app, or a toll-free telephone number.
Respondents reporting Atlantic marlin,
West Atlantic sailfish, or North Atlantic
swordfish in states (and the United
States Virgin Islands and Puerto Rico)
other than Maryland or North Carolina
may use either an internet website,
smartphone app, or a toll-free telephone
number to report landings information.
In Maryland and North Carolina, a
paper reporting system is used for all of
the aforementioned species. Under state
law, respondents in Maryland and
North Carolina must submit a landing
card at a state-operated reporting
station. States that participate in an
approved landing card program must
submit weekly reports and one annual
report to NOAA to summarize landings
and results to date.
III. Data
OMB Control Number: 0648–0328.
Form Number(s): None.
Type of Review: Regular submission.
Affected Public: Businesses or other
for-profit organizations; individuals or
households; and State, Local, or Tribal
government.
Estimated Number of Respondents:
16,185.
Estimated Time per Response: 5
minutes for an initial call-in, internet, or
smartphone app report; 5 minutes for a
confirmation call; 10 minutes for a
landing card; 1 hour for a weekly state
report; and 4 hours for an annual state
report.

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Estimated Total Annual Burden
Hours: 1,819.
Estimated Total Annual Cost to
Public: $0.

Comments are invited on: (a) Whether
the proposed collection of information
is necessary for the proper performance
of the functions of the agency, including
whether the information shall have
practical utility; (b) the accuracy of the
agency’s estimate of the burden
(including hours and cost) of the
proposed collection of information; (c)
ways to enhance the quality, utility, and
clarity of the information to be
collected; and (d) ways to minimize the
burden of the collection of information
on respondents, including through the
use of automated collection techniques
or other forms of information
technology.
Comments submitted in response to
this notice will be summarized and/or
included in the request for OMB
approval of this information collection;
they also will become a matter of public
record.
Sheleen Dumas,
Departmental Lead PRA Officer, Office of the
Chief Information Officer, Commerce
Department.
[FR Doc. 2019–07410 Filed 4–12–19; 8:45 am]
BILLING CODE 3510–22–P

COMMISSION OF FINE ARTS
Notice of Meeting
The next meeting of the U.S.
Commission of Fine Arts is scheduled
for 18 April 2019, at 9:00 a.m. in the
Commission offices at the National
Building Museum, Suite 312, Judiciary
Square, 401 F Street NW, Washington
DC, 20001–2728. Items of discussion
may include buildings, parks and
memorials.
Draft agendas and additional
information regarding the Commission
are available on our website:
www.cfa.gov. Inquiries regarding the
agenda and requests to submit written
or oral statements should be addressed
to Thomas Luebke, Secretary, U.S.
Commission of Fine Arts, at the above
address; by emailing [email protected]; or
by calling 202–504–2200. Individuals
requiring sign language interpretation
for the hearing impaired should contact
the Secretary at least 10 days before the
meeting date.

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[FR Doc. 2019–06673 Filed 4–12–19; 8:45 am]
BILLING CODE 6330–01–P

IV. Request for Comments

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Dated 1 April 2019 in Washington DC.
Thomas Luebke,
Secretary.

COMMODITY FUTURES TRADING
COMMISSION
Agency Information Collection
Activities Under OMB Review
Commodity Futures Trading
Commission.
ACTION: Notice.
AGENCY:

In compliance with the
Paperwork Reduction Act of 1995
(‘‘PRA’’), this notice announces that the
Information Collection Request (‘‘ICR’’)
abstracted below has been forwarded to
the Office of Management and Budget
(‘‘OMB’’) for review and comment. The
ICR describes the nature of the
information collection and its expected
costs and burdens.
DATES: Comments must be submitted on
or before May 15, 2019.
ADDRESSES: Comments regarding the
burden estimate or any other aspect of
the information collection, including
suggestions for reducing the burden,
may be submitted directly to the Office
of Information and Regulatory Affairs
(‘‘OIRA’’) in OMB within 30 days of the
publication of this notice, by either of
the following methods. Please identify
the comments by ‘‘OMB Control No.
3038–0094.’’
• By email addressed to: OIRA
[email protected] or
• By mail addressed to: The Office of
Information and Regulatory Affairs,
Office of Management and Budget,
Attention: Desk Officer for the
Commodity Futures Trading
Commission, 725 17th Street NW,
Washington, DC 20503.
A copy of all comments submitted to
OIRA should be sent to the Commodity
Futures Trading Commission (‘‘CFTC’’
or ‘‘Commission’’) by any of the
following methods. The copies sent to
the Commission also should refer to
‘‘OMB Control No. 3038–0094.’’
• By mail addressed to: Christopher
Kirkpatrick, Secretary of the
Commission, Commodity Futures
Trading Commission, Three Lafayette
Centre, 1155 21st Street NW,
Washington, DC 20581;
• By Hand Delivery/Courier to the
same address; or
• Through the Commission’s website
at http://comments.cftc.gov. Please
follow the instructions for submitting
comments through the website.
SUMMARY:

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Federal Register / Vol. 84, No. 72 / Monday, April 15, 2019 / Notices
A copy of the supporting statement
for the collection of information
discussed herein may be obtained by
visiting http://RegInfo.gov.
All comments must be submitted in
English, or if not, accompanied by an
English translation. Comments will be
posted as received to http://
www.cftc.gov. You should submit only
information that you wish to make
available publicly. If you wish the
Commission to consider information
that you believe is exempt from
disclosure under the Freedom of
Information Act, a petition for
confidential information of the exempt
information may be submitted according
to the procedures established in § 145.9
of the Commission’s regulations.1 The
Commission reserves the right, but shall
have no obligation to review, pre-screen,
filter, redact, refuse or remove any or all
of your submission from http://
www.cftc.gov that it may deem to be
inappropriate for publication, such as
obscene language. All submissions that
have been redacted or removed that
contain comments on the merits of the
ICR will be retained in the public
comment file and will be considered as
required under the Administrative
Procedure Act and other applicable
laws, and may be accessible under the
Freedom of Information Act.
FOR FURTHER INFORMATION CONTACT:
Jocelyn Partridge, Special Counsel,
Division of Clearing and Risk,
Commodity Futures Trading
Commission, (202) 418–5926; email:
[email protected].
SUPPLEMENTARY INFORMATION:
Title: Clearing Member Risk
Management (OMB Control No. 3038–
0094). This is a request for extension of
a currently approved information
collection.
Abstract: Section 3(b) of the
Commodity Exchange Act (‘‘Act’’ or
‘‘CEA’’) provides that one of the
purposes of the Act is to ensure the
financial integrity of all transactions
subject to the Act and to avoid systemic
risk. Section 8a(5) authorizes the
Commission to promulgate such
regulations that it believes are
reasonably necessary to effectuate any of
the provisions or to accomplish any of
the purposes of the Act. Risk
management systems are critical to the
avoidance of systemic risks.
Section 4s(j)(2) requires each Swap
Dealer (‘‘SD’’) and Major Swap
Participant (‘‘MSP’’) to have risk
management systems adequate for
managing its business. Section 4s(j)(4)
requires each SD and MSP to have
1 17

CFR 145.9.

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internal systems and procedures to
perform any of the functions set forth in
Section 4s.
Section 4d requires FCMs to register
with the Commodity Futures Trading
Commission (‘‘Commission’’). It further
requires Futures Commission Merchants
(‘‘FCMs’’) to segregate customer funds.
Section 4f requires FCMs to maintain
certain levels of capital. Section 4g
establishes reporting and recordkeeping
requirements for FCMs.
Pursuant to these provisions, the
Commission adopted § 1.73 which
applies to clearing members that are
FCMs and § 23.609 which applies to
clearing members that are SDs or MSPs.
These provisions require these clearing
members to have procedures to limit the
financial risks they incur as a result of
clearing trades and liquid resources to
meet the obligations that arise. The
regulations require clearing members to:
(1) Establish credit and market riskbased limits based on position size,
order size, margin requirements, or
similar factors; (2) use automated means
to screen orders for compliance with the
risk-based limits; (3) monitor for
adherence to the risk-based limits intraday and overnight; (4) conduct stress
tests of all positions in the proprietary
account and all positions in any
customer account that could pose
material risk to the futures commission
merchant at least once per week; (5)
evaluate its ability to meet initial margin
requirements at least once per week; (6)
evaluate its ability to meet variation
margin requirements in cash at least
once per week; (7) evaluate its ability to
liquidate the positions it clears in an
orderly manner, and estimate the cost of
the liquidation at least once per month;
and (8) test all lines of credit at least
once per quarter.
Each of these items has been observed
by Commission staff as an element of an
existing sound risk management
program at an SD, MSP, or FCM. The
Commission regulations require each
clearing member to establish written
procedures to comply with this
regulation and to keep records
documenting its compliance. The
information collection obligations
imposed by the regulations are
necessary to implement certain
provisions of the CEA, including
ensuring that registrants exercise
effective risk management and for the
efficient operation of trading venues
among SDs, MSPs, and FCMs.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless it displays a currently valid OMB

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15191

control number.2 On November 14,
2018, the Commission published in the
Federal Register notice of the proposed
extension of this information collection
and provided 60 days for public
comment on the proposed extension, 83
FR 56828 (‘‘60-Day Notice’’). The
Commission did not receive any
relevant comments. Accordingly, it did
not alter the burden estimates set forth
in the 60-Day Notice.
Burden Statement: The respondent
burden for this collection is estimated to
average 2 hours per response for an
estimated annual burden of 504 hours
per respondent. This estimate includes
the total time, effort, or financial
resources expended by persons to
generate, maintain, retain, disclose, or
provide information to or for a federal
agency.
Respondents/Affected Entities:
Clearing member Swap Dealers, Major
Swap Participants, and Futures
Commission Merchants.
Estimated Number of Respondents:
166 (101 Clearing Member Swap Dealers
and 65 Clearing Member Futures
Commission Merchants).
Estimated Average Burden Hours per
Respondent: 504.
Estimated Total Annual Burden
Hours: 83,664 hours.
Frequency of Collection: As needed.
There are no capital costs or operating
and maintenance costs associated with
this collection.
(Authority: 44 U.S.C. 3501 et seq.)
Dated: April 9, 2019.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2019–07380 Filed 4–12–19; 8:45 am]
BILLING CODE 6351–01–P

COMMODITY FUTURES TRADING
COMMISSION
Agency Information Collection
Activities: Notice of Intent To Extend
Collection Number 3038–0080, Annual
Report for Chief Compliance Officer of
Registrants
Commodity Futures Trading
Commission.
ACTION: Notice.
AGENCY:

The Commodity Futures
Trading Commission (‘‘CFTC’’ or
‘‘Commission’’) is announcing an
opportunity for public comment on the
proposed extension of a collection of
certain information by the agency.
Under the Paperwork Reduction Act

SUMMARY:

2 The OMB control numbers for the CFTC’s
regulations were published on December 30, 1981.
See 46 FR 63035 (Dec. 30, 1981).

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