60-day Notice

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

(‘‘PRA’’), Federal agencies are required
to publish notice in the Federal Register
concerning each proposed collection of
information, including each proposed
extension of an existing collection of
information, and to allow 60 days for
public comment. This notice solicits
comments on the collections of
information mandated by Commission
Regulation 3.3 (Chief Compliance
Officer).
Comments must be submitted on
or before June 14, 2019.
ADDRESSES: You may submit comments,
identified by ‘‘Annual Report for Chief
Compliance Officer of Registrants,’’ and
Collection Number 3038–0080 by any of
the following methods:
• The Agency’s website, at http://
comments.cftc.gov/. Follow the
instructions for submitting comments
through the website.
• Mail: Christopher Kirkpatrick,
Secretary of the Commission,
Commodity Futures Trading
Commission, Three Lafayette Centre,
1155 21st Street NW, Washington, DC
20581.
• Hand Delivery/Courier: Same as
Mail above.
Please submit your comments using
only one method.
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.
DATES:

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FOR FURTHER INFORMATION CONTACT:

Pamela M. Geraghty, Special Counsel,
Division of Swap Dealer and
Intermediary Oversight, Commodity
Futures Trading Commission, (202)
418–5634, email: [email protected].
SUPPLEMENTARY INFORMATION: Under the
PRA,1 Federal agencies must obtain
approval from the Office of Management
and Budget (‘‘OMB’’) for each collection
of information they conduct or sponsor.
‘‘Collection of Information’’ is defined
in 44 U.S.C. 3502(3) and 5 CFR 1320.3
and includes agency requests or
requirements that members of the public
submit reports, keep records, or provide
information to a third party. Section
3506(c)(2)(A) of the PRA, 44 U.S.C.
3506(c)(2)(A), requires Federal agencies
to provide a 60-day notice in the
Federal Register concerning each
proposed collection of information,
including each proposed extension of an
existing collection of information,
before submitting the collection to OMB
for approval. To comply with this
requirement, the CFTC is publishing
1 44

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notice of the proposed collection of
information listed below.
Title: Annual Report for Chief
Compliance Officer of Registrants (OMB
Control No. 3038–0080). This is a
request for an extension of a currently
approved information collection.
Abstract: On April 3, 2012, the
Commission adopted Commission
Regulation 3.3 (Chief Compliance
Officer) 2 under sections 4d(d) and
4s(k) 3 of the Commodity Exchange Act
(‘‘CEA’’). Commission Regulation 3.3
requires each futures commission
merchant (‘‘FCM’’) 4, swap dealer
(‘‘SD’’) 5, and major swap participant
(‘‘MSP’’) 6 to designate, by filing a form
8–R, a chief compliance officer who is
responsible for developing and
administering policies and procedures
that fulfill certain duties of the SD,
MSP, or FCM and that are reasonably
designed to ensure the registrant’s
compliance with the CEA and
Commission regulations; establishing
procedures for the remediation of
noncompliance issues identified by the
chief compliance officer; establishing
procedures for the handling,
management response, remediation,
retesting, and closing of noncompliance
issues; preparing, signing, certifying and
filing with the Commission an annual
compliance report that contains the
information specified in the regulations;
amending the annual report if material
errors or omissions are identified; and
maintaining records of the registrant’s
compliance policies and procedures and
records related to the annual report. The
information collection obligations
imposed by Commission Regulation 3.3
are essential to ensuring that FCMs,
SDs, and MSPs maintain comprehensive
policies and procedures that promote
compliance with the CEA and
Commission regulations. In particular,
the Commission believes that, among
other things, these obligations (i)
promote compliance behavior through
periodic self-evaluation, (ii) inform the
Commission of possible compliance
weaknesses, (iii) assist the Commission
in determining whether the registrant
remains in compliance with the CEA
and Commission regulations, and (iv)
help the Commission to assess whether
the registrant has mechanisms in place
2 17

CFR 3.3.
U.S.C. 6d(d) and 6s(k).
4 For the definition of FCM, see section 1a(28) of
the CEA and Commission Regulation 1.3(p). 7
U.S.C. 1a(28) and 17 CFR 1.3(p).
5 For the definition of SD, see section 1a(49) of
the CEA and Commission Regulation 1.3(ggg). 7
U.S.C. 1a(49) and 17 CFR 1.3(ggg).
6 For the definitions of MSP, see section 1a(33) of
the CEA and Commission Regulation 1.3(hhh). 7
U.S.C. 1a(33) and 17 CFR 1.3(hhh).
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to adequately address compliance
problems that could lead to a failure of
the registrant. With respect to the
collection of information, the CFTC
invites comments on:
• Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
Commission, including whether the
information will have a practical use;
• The accuracy of the Commission’s
estimate of the burden of the proposed
collection of information, including the
validity of the methodology and
assumptions used;
• Ways to enhance the quality,
usefulness, and clarity of the
information to be collected; and
• Ways to minimize the burden of
collection of information on those who
are to respond, including through the
use of appropriate automated electronic,
mechanical, or other technological
collection techniques or other forms of
information technology; e.g., permitting
electronic submission of responses.
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 treatment of the exempt
information may be submitted according
to the procedures established in § 145.9
of the Commission’s regulations.7
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 information collection
request 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.
Burden Statement: In light of the
contraction in the number of
Commission-registered SDs and FCMs
since the Commission promulgated
Regulation 3.3, the Commission is
revising its estimate of the burden for
this collection. Accordingly, the
respondent burden for this collection is
estimated to be as follows:
Number of Registrants: 171.
Estimated Average Burden Hours Per
Registrant: 1006.
Estimated Aggregate Burden Hours:
172,026.
7 17

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Federal Register / Vol. 84, No. 72 / Monday, April 15, 2019 / Notices
Frequency of Recordkeeping:
Annually or on occasion.

Service (FRS), toll-free, at 1–800–877–
8339.

(Authority: 44 U.S.C. 3501 et seq.)

SUPPLEMENTARY INFORMATION:

Dated: April 9, 2019.
Robert Sidman,
Deputy Secretary of the Commission.

Full Text of Announcement

[FR Doc. 2019–07381 Filed 4–12–19; 8:45 am]

Purpose of Program: The purpose of
the Perkins Innovation and
Modernization Grant Program is to
identify, support, and rigorously
evaluate Evidence-Based 1 and
innovative strategies and activities to
improve and modernize Career and
Technical Education (CTE) and ensure
workforce skills taught in CTE programs
funded under the Carl D. Perkins Career
and Technical Education Act of 2006, as
amended by the Strengthening Career
and Technical Education for the 21st
Century Act (Perkins V or the Act) align
with labor market needs.
Background: One of the most pressing
tasks and most important opportunities
facing America today is closing the
Nation’s workforce skills gap, while
unleashing untapped talent where it is
needed most. Although the U.S. labor
market has strengthened over the last
several years, as unemployment has
reached historic lows,2 business leaders
continue to voice concerns about the
gap between the skills needed to
advance their companies, and those that
many workers can offer today. The
National Federation of Independent
Business reported that 35 percent of
small businesses were unable to find
qualified applicants to fill job openings
in January 2019.3 The U.S. Chamber of
Commerce Foundation examined skills
gaps on an occupation-by-occupation
basis and detailed in a March 2018
report that more job openings than
workers contributed to a skills gap of
more than 4.4 million job openings. The
skills gap was greatest in the health-care
sector where over a million health-care
jobs are unfilled for lack of qualified
workers.4 The Department knows that
there are many ways to validate that
students have developed skills that
employers need: Industry-recognized
certificates, associates degrees, stackable
credits and credentials, licenses,

I. Funding Opportunity Description

BILLING CODE 6351–01–P

DEPARTMENT OF EDUCATION
Applications for New Awards; Perkins
Innovation and Modernization Grant
Program
Office of Career, Technical, and
Adult Education, Department of
Education.
ACTION: Notice.
AGENCY:

The Department of Education
(Department) is issuing a notice inviting
applications for new awards for fiscal
year (FY) 2019 for the Perkins
Innovation and Modernization Grant
Program, Catalog of Federal Domestic
Assistance (CFDA) number 84.051F.
This notice relates to the approved
information collection under OMB
control number 1894–0006.
DATES:
Applications Available: April 15,
2019.
Deadline for Notice of Intent to Apply:
Applicants are strongly encouraged, but
not required, to submit a notice of intent
to apply by May 15, 2019.
Date of Pre-Application Webinar: For
information about a pre-application
webinar or potential future webinars,
visit the Perkins Collaborative Resource
Network (PCRN) at http://cte.ed.gov/.
Deadline for Transmittal of
Applications: June 14, 2019.
Deadline for Intergovernmental
Review: August 13, 2019.
ADDRESSES: For the addresses for
obtaining and submitting an
application, please refer to our Common
Instructions for Applicants to
Department of Education Discretionary
Grant Programs, published in the
Federal Register on February 13, 2019
(84 FR 3768), and available at
www.govinfo.gov/content/pkg/FR-201902-13/pdf/2019-02206.pdf.
FOR FURTHER INFORMATION CONTACT:
Laura Messenger, U.S. Department of
Education, 400 Maryland Avenue SW,
Potomac Center Plaza (PCP), Room
11028, Washington, DC 20202–7241.
Telephone: (202) 245–7840. Email:
[email protected].
If you use a telecommunications
device for the deaf (TDD) or a text
telephone (TTY), call the Federal Relay

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SUMMARY:

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1 Throughout this notice, all defined terms are
denoted with capitals.
2 The Employment Situation, U.S. Bureau of
Labor and Statistics. (January 4, 2019). Retrieved
from: www.bls.gov/news.release/pdf/empsit.pdf.
3 National Federation of Independent Business.
Monthly Job Report (January 2019). Retrieved from:
www.nfib.com/assets/jobs1218hw1.pdf.
4 Restuccia, D., Taska, B. and Bittle, S. ‘‘Different
Skills, Different Gaps: Measuring & Closing the
Skills,’’ March 2018. U.S. Chamber of Commerce
Foundation. Retrieved from:
www.uschamberfoundation.org/sites/default/files/
Skills_Gap_Different_Skills_Different_Gaps_
FINAL.pdf.

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advanced degrees, four-year degrees,
and apprenticeships. As Secretary
DeVos has said, ‘‘We must also rethink
education after high school and embrace
the fact that a global economy demands
a posture of lifelong learning . . . We
must put to rest the notion that a
traditional four-year degree is the only
pathway to success.’’ 5
On July 31, 2018, President Trump
signed the Strengthening Career and
Technical Education for the 21st
Century Act, reauthorizing the Carl D.
Perkins Career and Technical Education
Act of 2006. Perkins V recognizes the
importance of developing employability
skills through high-quality CTE
programs and aligns several new key
definitions to the Workforce Innovation
and Opportunity Act (WIOA)(29 U.S.C.
3101 et seq.) and the Elementary and
Secondary Education Act, as amended
by the Every Student Succeeds Act
(ESEA)(20 U.S.C. 6301 et seq.). For
example, the new definition for CTE
Programs of Study requires alignment
with the needs of industry. State plans
under Perkins V require consultation
with employers, among others, and the
local comprehensive needs assessment
must include a description of how CTE
programs are aligned to State, regional,
or local in-demand industry sectors or
occupations. Perkins V allows Eligible
Recipients to build off of these new
opportunities to redesign CTE programs
to better prepare students for successful
careers and to rethink and revitalize
CTE delivery systems in the United
States. One way we will support these
efforts through the Perkins Innovation
and Modernization Grant Program,
funded under section 114(e) of Perkins
V, is by awarding up to six competitive
grants to Eligible Entities, Eligible
Institutions, and Eligible Recipients to
create, develop, implement, replicate, or
take to scale Evidence-Based, fieldinitiated innovations that modernize
CTE, increase program effectiveness and
alignment, and improve student
outcomes. Grant funds under this
competition may be used for a broad
range of approaches to innovation and
modernization, and grantees agree to
conduct a rigorous Independent
Evaluation of their project.
The intent of the Perkins Innovation
and Modernization Grant Program is to
test new ideas that can help better
prepare students for success in the
workforce. Section 114(e)(1) of Perkins
V requires the strategies and activities
funded under this program to be not
5 Devos, Betsy. Remarks to the House Education
and the Workforce Committee, May 22, 2018.
Retrieved from: www.ed.gov/news/speeches/
prepared-remarks-us-secretary-education-betsydevos-house-education-and-workforce-committee.

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