Swap Data Access Provisions of Part 49 and Certain Other Matters

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Supporting Statement for Part 49 Rule (0086) 4.16.2020.docx	Supporting Statement A	Uploaded 2020-04-18	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
195635	Swap Data Access Provisions of Part 49 and Certain Other Matters		Modified

ICR Details

OMB Control No: 3038-0086	ICR Reference No: 202004-3038-005
Status: Historical Inactive	Previous ICR Reference No: 201804-3038-010
Agency/Subagency: CFTC	Agency Tracking No:
Title: Swap Data Access Provisions of Part 49 and Certain Other Matters
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule and continue	Conclusion Date: 07/08/2020
	Date Received in OIRA: 04/19/2020
Terms of Clearance: OMB files this comment in accordance with 5 CFR 1320.11(c). This OMB action is not an approval to conduct or sponsor an information collection under the Paperwork Reduction Act of 1995. This action has no effect on any current approvals. If OMB has assigned this ICR a new OMB Control Number, the OMB Control Number will not appear in the active inventory. For future submissions of this information collection, reference the OMB Control Number provided. Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR). The agency shall examine public comment in response to the NPRM and will describe in the supporting statement of its next collection any public comments received regarding the collection as well as why (or why it did not) incorporate the commenter’s recommendation. The next submission to OMB must include the draft final rule and information collection instrument (e.g., form). OMB expects that future supporting statements submitted by the CFTC will include detailed tables showing the anticipated number of respondents, burden hours, cost burden,and any marginal changes from the previous package (if applicable). These tables should also summarize the total burden associated with all requirements specified in the package. Summary burden tables should be easily comparable to the burden estimates displayed in ROCIS.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2021	36 Months From Approved	11/30/2021
Responses	4,800,003,136	0	4,800,003,136
Time Burden (Hours)	184,690	0	184,690
Cost Burden (Dollars)	61,904,104	0	61,904,104

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Abstract: CEA § 21(c)(7) directs SDRs to make swap data available “on a confidential basis pursuant to [CEA §] 8” to certain enumerated domestic authorities and any other person the CFTC determines to be appropriate, which may include certain types of foreign authorities. CEA § 21(d) mandates that, prior to receiving any requested data or information from a swap data repository (“SDR”), an authority seeking SDR swap data access agree in writing to abide by the confidentiality requirements described in CEA § 8. CEA § 8 describes circumstances under which public disclosure of information in the Commission’s possession is permitted and prohibited. The collection is designed to elicit information from authorities seeking SDR swap data access (including information regarding the scope of their jurisdiction and the measures they will have in place to safeguard the confidentiality of SDR swap data) to enable the CFTC to determine whether applicants are appropriate recipients of such data. The collection is designed to alert the Commission to circumstances in which SDR swap data recipients seek to, have or may receive SDR swap data outside the scope of their jurisdiction. Authorities would use SDR swap data for purposes within the scope of their jurisdiction. The information sent to the Commission in proposed § 49.4 would be necessary for the Commission to ensure that SDR data is stored and sent to the Commission properly when an SDR withdraws its registration. The information sent to SEFs, DCMs, reporting counterparties, and third-party servive providers as required by proposed §§ 49.10 and 49.13 would be used by these entities to ensure they have reported SDR data to SDRs according to the Commission’s regulations. .

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Authorizing Statute(s): US Code: 7 USC 12a(5) Name of Law: Registration of Commodity Dealers and Associated Persons
   US Code: 7 USC 24a Name of Law: Swap Data Repositories
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3038-AE31	Proposed rulemaking	85 FR 21578	04/17/2020

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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: 1

table that charts list of burden

IC Title	Form No.	Form Name
Swap Data Access Provisions of Part 49 and Certain Other Matters

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

Burden Increase Due to: Changing Regulations

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

Burden Reduction Due to:

Short Statement: The Commission is proposing amendments to Part 49 of the Commission’s regulations in order to improve the quality of swap data and to streamline regulatory requirements governing data reporting. This supporting statement discusses adjustments to burden hours calculations for Information Collection 3038-0086 to account for modified and new burdens associated with the proposed changes to the regulation. The Commission is also updating the overall burden hours, collection volumes, and costs related to Information Collection 3038-0086, based on updated information related to other collections within Information Collection 3038-0086 that are not being modified by this proposal. For example, the Commission is updating the estimated numbers of each type of entity affected by this collection to accurately reflect the current number of each type of entity. This includes 24 SEFs (previously 25), 3 DCMs that allow execution of swaps (previously 15), 3 SDRs (previously 4), 14 DCOs that clear swaps (not previously included), 103 SDs/MSPs (previously 125), and 1585 non-SD/non-MSP reporting counterparties (previously 703).

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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.     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]? Yes

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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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: 04/19/2020

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