Clearing Member Risk Management

Forms and Documents

Document	Type	Status	Availability
(2022) 30-day FR Notice - 3038-0094.pdf	Supplementary Document	Uploaded 2022-04-27	Repair queued
(2022) 60-Day FR Notice -3038-0094.pdf	Supplementary Document	Uploaded 2022-04-27	Repair queued
(2022) Supp. Statement - 3038-0094 - 4-20-2022.docx	Supporting Statement A	Uploaded 2022-04-27	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
198806	Clearing Member Risk Management		Modified

ICR Details

OMB Control No: 3038-0094	ICR Reference No: 202204-3038-003
Status: Received in OIRA	Previous ICR Reference No: 201904-3038-001
Agency/Subagency: CFTC	Agency Tracking No:
Title: Clearing Member Risk Management
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 04/27/2022

	Requested	Previously Approved
Expiration Date	36 Months From Approved	06/30/2022
Responses	42,084	41,832
Time Burden (Hours)	84,168	83,664
Cost Burden (Dollars)	0	0

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Abstract: Commission regulation § 1.73 which applies to clearing members that are futures commission merchants and Commission regulation § 23.609 which applies to clearing members that swap dealers and major swap participants, require clearing members to monitor and collect information to prevent risks to the financial markets. Specifically, these provisions require these clearing members to have procedures to limit the financial risks they incur as a result of clearing trades and to maintain sufficient liquid resources to meet the obligations that arise. Each of these items has been observed by Commission staff as an element of an existing sound risk management program at these registered entities. The Commission regulations require each clearing member to establish written procedures to comply and to keep records documenting its compliance. The regulations are an important part of the Commission’s regulatory program. The information required to be collected and preserved is used by representatives of the Commission to ensure compliance with the CEA and applicable Commission regulations.

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Authorizing Statute(s): PL: Pub.L. 111 - 203 124 Stat. 1376 (2010) Name of Law: Dodd-Frank
   US Code: 7 USC 5(b), 6d, 6f, 6g, 6s, 12a(5) 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:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 9582	02/22/2022
30-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 24974	04/27/2022
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
Clearing Member Risk Management

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ICR Summary of Burden

	Total Request	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	42,084	41,832	0	252	0	0
Annual Time Burden (Hours)	84,168	83,664	0	504	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: The revisions reflect a minor increase in the number of respondents (from 166 respondents to 167). The total burden hours increased accordingly by 504 hours (252 responses for the one additional respondent at 2 hours each = 504 hours).

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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: 04/27/2022

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