Large Trader Reports

Forms and Documents

Document Name	Status
Form 40 Large Trader Reports Form	Modified
(2019) 30-day Federal Register Notice 3038-0009.pdf Supplementary Document	2019-06-27
(2019) 60-Day Notice - 3038-0009.pdf Supplementary Document	2019-06-27
(2019) Supporting Statement -3038-0009 - final version.docx Supporting Statement A	2019-06-27

IC Document Collections

IC ID	Document Title	Status
29017	Large Trader Reports Form	Modified

ICR Details

OMB Control No: 3038-0009	ICR Reference No: 201906-3038-008
Status: Active	Previous ICR Reference No: 201507-3038-005
Agency/Subagency: CFTC	Agency Tracking No:
Title: Large Trader Reports
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 09/04/2019
	Date Received in OIRA: 06/27/2019
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2022	36 Months From Approved	09/30/2019
Responses	74,418	0	69,609
Time Burden (Hours)	19,676	0	18,348
Cost Burden (Dollars)	0	0	0

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Abstract: The reporting rules covered by OMB Control Number 3038-0009 (“the Collection”) are structured to ensure the Commission receives adequate information to carry out its market and financial surveillance programs. The reporting rules are implemented by the Commission partly pursuant to the authority of sections 4a, 4c(b), 4g, and 4i of the Commodity Exchange Act. Section 4a of the Act permits the Commission to set, approve exchange-set, and enforce speculative position limits. Section 4c(b) of the Act gives the Commission plenary authority to regulate transactions that involve commodity options. Section 4g of the Act imposes reporting and recordkeeping obligations on registered entities, and requires each registrant, whether a futures commission merchant (FCM), introducing broker, floor broker, or floor trader, to file such reports as the Commission may require on proprietary and customer positions executed on any board of trade in the United States or elsewhere. Lastly, section 4i of the Act requires the filing of such reports as the Commission may require when positions made or obtained on designated contract markets or derivatives transaction execution facilities equal or exceed Commission-set levels.

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Authorizing Statute(s): US Code: 7 USC 1 et seq Name of Law: Exempt Markets
   US Code: 7 USC 6a, 6c(b), 6g, 6i Name of Law: Exempt Markets
   US Code: 7 USC 5(b) Name of Law: Exempt Markets
   US Code: 7 USC 12a(5) Name of Law: Exempt Markets
   US Code: 7 USC 1a(11) Name of Law: Exempt Markets
   US Code: 7 USC 1a(10) Name of Law: Exempt Markets
   US Code: 7 USC 1a(14) Name of Law: Exempt Markets
   US Code: 7 USC 2(h)(7) Name of Law: Exempt Markets
  

Citations for New Statutory Requirements: US Code: 7 USC 6a, 6c(b), 6g, 6i, Name of Law: Exempt Markets
US Code: 7 USC 1 et seq Name of Law: Exempt Markets
US Code: 7 USC 2(h)(7) Name of Law: Exempt Markets
US Code: 7 USC 12a(5) Name of Law: Exempt Markets
US Code: 7 USC 1a(11) Name of Law: Exempt Markets
US Code: 7 USC 1a(10) Name of Law: Exempt Markets
US Code: 7 USC 1a(12) Name of Law: Exempt Markets
US Code: 7 USC 5(b) Name of Law: Exempt Markets

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 14097	04/09/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 30699	06/27/2019
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
Large Trader Reports	40, 102, 204, 304	Statement of Reporting Trader ,   Statement of Cash Positions in Grains, Soybeans, Soybean Oil, and Soybean Meal ,   Statement of Cash Positions in Cotton ,   Identification of Special Accounts

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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	74,418	69,609	0	4,809	0	0
Annual Time Burden (Hours)	19,676	18,348	0	1,328	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: Increases in the number of responses and burden hours are due to the Commission adjusting the current figures to provide a more accurate estimate of the associated burdens. The Commission revised the burden estimates housed in the Collection by reviewing summary statistics regarding the previous year’s submissions of the required forms.

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Annual Cost to Federal Government: $2,062,500

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]? No

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: 06/27/2019

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