Rules Relating to the Operations and Activities of Commodity Pool Operators and Commodity trading Advisors and to Monthly Reporting by Futures Commission Merchants

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form CTA-PR Part-4 Commodity Pool Operators and Commodity Trading Advisors	Form and Instruction	Modified	Available
(2019) 3038-0023 Supporting Statement.part 4 final rules.2019.11.19 (final).docx	Supporting Statement B	Uploaded 2019-12-10	Available
(2019) 3038-0005 Supporting Statement.part 4 final rules.2019.11.26 (final).docx	Supporting Statement A	Uploaded 2019-12-10	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
29006	Part-4 Commodity Pool Operators and Commodity Trading Advisors	Form and Instruction	Modified
224332	Commodity Pool Operator Annual Report		Unchanged

ICR Details

OMB Control No: 3038-0005	ICR Reference No: 201912-3038-001
Status: Historical Active	Previous ICR Reference No: 201810-3038-001
Agency/Subagency: CFTC	Agency Tracking No:
Title: Rules Relating to the Operations and Activities of Commodity Pool Operators and Commodity trading Advisors and to Monthly Reporting by Futures Commission Merchants
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 03/06/2020
	Date Received in OIRA: 12/10/2019
Terms of Clearance: Agency added additional information to the burden estimate.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2023	36 Months From Approved	03/31/2020
Responses	111,986	0	129,042
Time Burden (Hours)	354,367	0	365,764
Cost Burden (Dollars)	0	0	0

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Abstract: The disclosure, filing, and recordkeeping requirements within part 4 of the Commission regulations, including the information collection related to optional annual report in Regulation 4.22 for eligible CPOs, were established to assist customers, to facilitate the Commission and NFA in monitoring compliance with the part 4 rules, and to enable the Commission to better monitor the market risks posed by its registrants. The Commission is proposing several new exemptions and an exclusion to part 4 that generally would provide relief from CPO and/or CTA registration and compliance. To claim the new exemptions or exclusion applicable to CPOs, the Commission is also proposing to require new notice filings to be completed when the relief is first claimed, and subsequently, on an annual basis to affirm each claim. This information collection is necessary to enable the Commission and NFA to accomplish the purposes of the compliance regime set forth in part 4 of the Commission’s regulations. Failure to require the information in this collection would severely hamper these efforts. These records also provide the Commission with its source of independent aggregated financial information concerning the commodity pool industry, which informs the Commission’s policy decision-making. The Commission also intends to use the annual notices collected hereunder to assess the efficacy of registration exemptions and exclusions for CPOs and CTAs, and to determine if or where additional amendments to those provisions should be considered. The Commodity Futures Trading Commission (CFTC or Commission) has determined to adopt via final rulemaking two new exemptions and an exclusion that generally would provide relief from commodity pool operator (CPO) and/or commodity trading advisor (CTA) registration and compliance. To claim the new exclusion from the CPO definition, the CFTC is also adopting a notice filing requirement to be fulfilled when the relief is first claimed, and subsequently, on an annual basis to affirm each claim. Consistent with the Commission’s use of annual notice filings required for the claiming and maintenance of other exemptions from CPO registration and exclusions from the CPO definition, the Commission intends to use the annual notices filed pursuant to the final rulemaking, like those filed pursuant to the existing part 4 regulations, to continually assess the efficacy of the part 4 exemptions and exclusions, and to determine whether additional amendments should be considered in the future. Based on public comments received, the Commission has determined not to require such initial or annual notices from entities qualifying as Family Offices and claiming new CPO and CTA exemptions adopted by the final rulemaking; those entities will instead claim those exemptions on a self-executing basis, but they will be held to the same recordkeeping requirements as all other Exempt CPOs. Therefore, the Commission has adjusted its PRA estimates from the NPRM accordingly. Finally, the Commission continues to expect that the respondents to this information collection would primarily be businesses or other types of for-profit institutions and/or entities, though some individuals may be impacted or required to file a notice with the Commission, in order to receive certain relief.

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Authorizing Statute(s): US Code: 7 USC 6(c), 6b, 6c Name of Law: CEA
   US Code: 7 USC 6l, 6m, 6n, 6o Name of Law: CEA
   US Code: 7 USC 1a, 2, 12a, 23 Name of Law: CEA
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3038-AE76	Final or interim final rulemaking	84 FR 67355	12/10/2019

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

table that charts list of burden

IC Title	Form No.	Form Name
Part-4 Commodity Pool Operators and Commodity Trading Advisors	CTA-PR, CPO-PQR	CTA-PR ,   CPO-PQR
Commodity Pool Operator Annual Report

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ICR Summary of Burden

table that charts list 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	111,986	129,042	0	-17,056	0	0
Annual Time Burden (Hours)	354,367	365,764	0	-11,397	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to: Changing Regulations

Short Statement: The burden hours have been adjusted in this information collection to reflect the additional reporting burden associated with the CPO exclusion’s notice filings (reporting burden under Regulation 4.5), as well as to better align the total burden hours with the current number of registrants subject to the various provisions included within this collection. Additionally, the Commission is adjusting the recordkeeping burden associated with Regulations 4.13(c)(1)(i)-(ii) to account for Family Offices, who will be required to maintain records supporting their eligibility for their CPO exemptions, just like all other CPOs exempt under Regulation 4.13. Consequently, the burden calculations presented here are a more accurate estimate of the total burden hours under this OMB control number.

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Annual Cost to Federal Government: $0

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.     Yes

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]? Yes

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: 12/10/2019

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