30-Day Federal Register Notice

khammond on DSKJM1Z7X2PROD with NOTICES

Federal Register / Vol. 87, No. 126 / Friday, July 1, 2022 / Notices
1155 21st Street NW, Washington, DC
20581.
• Hand Delivery/Courier: Same as
Mail above.
All comments must be submitted in
English, or if not, accompanied by an
English translation. Comments
submitted to the Commission should
include 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.1 The
Commission reserves the right, but shall
have no obligation, to review, prescreen, filter, redact, refuse or remove
any or all of your submission from
https://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:
Christopher Cummings, Special
Counsel, Market Participants Division,
Commodity Futures Trading
Commission, Three Lafayette Centre,
1155 21st Street NW, Washington, DC
20581; (202) 418–5445; email:
[email protected].
SUPPLEMENTARY INFORMATION:
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 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’’), swap dealer (‘‘SD’’), and major
swap participant (‘‘MSP’’) 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
1 17

CFR 145.9.
CFR 3.3.
3 7 U.S.C. 6d(d) and 6s(k).
2 17

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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
to adequately address compliance
problems that could lead to a failure of
the registrant.
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
control number. On April 26, 2022, 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, 87
FR 24535 (‘‘60-Day Notice’’). The
Commission did not receive any
relevant comments on the 60-Day
Notice.
Burden Statement: The Commission
is revising its estimate of the burden for
this collection to reflect the current
number of respondents and estimated
burden hours. The respondent burden
for this collection is estimated to be as
follows:
Number of Registrants: 166.
Estimated Average Burden Hours per
Registrant: 1,006.
Estimated Aggregate Burden Hours:
166,966.
Frequency of Recordkeeping:
Annually or on occasion.
There are no capital costs or operating
and maintenance costs associated with
this collection.
(Authority: 44 U.S.C. 3501 et seq.)

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39505

Dated: June 27, 2022.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2022–14089 Filed 6–30–22; 8:45 am]
BILLING CODE 6351–01–P

COMMODITY FUTURES TRADING
COMMISSION
Agency Information Collection
Activities Under OMB Review
Commodity Futures Trading
Commission.
ACTION: Notice.
AGENCY:

In compliance with the
Paperwork Reduction Act of 1995
(‘‘PRA’’), this notice announces that the
Information Collection Request (‘‘ICR’’)
abstracted below has been forwarded to
the Office of Information and Regulatory
Affairs (‘‘OIRA’’), of the Office of
Management and Budget (‘‘OMB’’), for
review and comment. The ICR describes
the nature of the information collection
and its expected costs and burden.
DATES: Comments must be submitted on
or before August 1, 2022.
ADDRESSES: Written comments and
recommendations for the proposed
information collection should be
submitted within 30 days of this
notice’s publication to OIRA, at https://
www.reginfo.gov/public/do/PRAMain.
Please find this particular information
collection by selecting ‘‘Currently under
30-day Review—Open for Public
Comments’’ or by using the website’s
search function. Comments can be
entered electronically by clicking on the
‘‘comment’’ button next to the
information collection on the ‘‘OIRA
Information Collections Under Review’’
page, or the ‘‘View ICR—Agency
Submission’’ page. A copy of the
supporting statement for the collection
of information discussed herein may be
obtained by visiting https://
www.reginfo.gov/public/do/PRAMain.
In addition to the submission of
comments to https://Reginfo.gov as
indicated above, a copy of all comments
submitted to OIRA may also be
submitted to the Commodity Futures
Trading Commission (the
‘‘Commission’’ or ‘‘CFTC’’) by clicking
on the ‘‘Submit Comment’’ box next to
the descriptive entry for OMB Control
No. 3038–0024, at https://
comments.cftc.gov/FederalRegister/
PublicInfo.aspx.
Or by either of the following methods:
• Mail: Christopher Kirkpatrick,
Secretary of the Commission,
Commodity Futures Trading
Commission, Three Lafayette Centre,
SUMMARY:

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khammond on DSKJM1Z7X2PROD with NOTICES

39506

Federal Register / Vol. 87, No. 126 / Friday, July 1, 2022 / Notices

1155 21st Street NW, Washington, DC
20581.
• Hand Delivery/Courier: Same as
Mail above.
All comments must be submitted in
English, or if not, accompanied by an
English translation. Comments
submitted to the Commission should
include 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.1 The
Commission reserves the right, but shall
have no obligation, to review, prescreen, filter, redact, refuse or remove
any or all of your submission from
https://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:
Jennifer Bauer, Special Counsel, Market
Participants Division, Commodity
Futures Trading Commission, Three
Lafayette Centre, 1155 21st Street NW,
Washington, DC 20581; (202) 418–5472;
email: [email protected].
SUPPLEMENTARY INFORMATION:
Title: Regulations and Forms
Pertaining to the Financial Integrity of
the Marketplace (OMB Control No.
3038–0024). This is a request for an
extension of a currently approved
information collection.
Abstract: The Commission is the
independent federal regulatory agency
charged with providing various forms of
customer protection so that users of the
commodity markets can be assured of
the financial integrity of the markets
and the intermediaries that they employ
in their trading activities. Part 1 of the
Commission’s regulations requires,
among other things, that commodity
brokers—known as futures commission
merchants (‘‘FCMs’’), or Introducing
Brokers (‘‘IBs’’), comply with certain
minimum financial requirements. In
order to monitor compliance with these
financial standards, the Commission has
required FCMs and IBs to file financial
reports with the Commission and with
the designated self-regulatory
1 17

CFR 145.9.

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organization of which they are members
as well as to report to the Commission
should certain financial requirements
drop below prescribed minimums.
In 2008, the U.S. Congress passed the
Food, Conservation, and Energy Act of
2008, Public Law 110–246, 122 Stat.
1651, 2189–2204 (2008), also known as
the Farm Bill. The Farm Bill provided
the Commission with new authority
with regard to the regulation of offexchange retail forex transactions.
Among other things, it directed the
Commission to draft rules effectuating
registration provisions for a new
category of registrant—the retail foreign
exchange dealer (‘‘RFED’’). Under the
terms of the legislation, RFEDs are
subject to the same capital requirements
as FCMs that are engaged in retail forex
transactions, and, therefore, subject to
the same reporting requirements.
Accordingly, this collection was
amended to reflect the financial
reporting requirements of the new
category of registrant, RFEDs.
In 2010, the U.S. Congress passed the
Wall Street Reform and Consumer
Protection Act (the ‘‘Dodd-Frank Act’’),
Public Law 111–203, 124 Stat. 1376
(2010), giving the Commission the
authority to regulate certain swap
markets and participants in those
markets. Section 731 of the Dodd-Frank
Act, amended the Commodity Exchange
Act (‘‘CEA’’), 7 U.S.C. 1 et seq., to add,
as section 4s(e) thereof, provisions
concerning the setting of capital and
initial and variation margin
requirements for swap dealers (‘‘SDs’’)
and major swap participants (‘‘MSPs’’).
In 2016 and 2020 respectively, the
Commission finalized the Margin
Requirements for Uncleared Swaps for
Swap Dealers and Major Swap
Participants rule and the Capital
Requirements for Swap Dealers and
Major Swap Participants rule to
implement those requirements.
Specifically, such rules include
financial reporting and recordkeeping,
as well as application processes for
model approval for both capital and
margin models for SDs and MSPs that
do not have a prudential regulator
(‘‘Covered Swap Entities’’ or ‘‘CSEs’’).
Separately, in 2013, the Commission
finalized rules in an effort to prevent
unauthorized usage of customer funds
by FCMs and RFEDs. The final rules
included modifications to the reporting
requirements required by the
Commission which resulted in changes
to the financial statements filed by
FCMs and RFEDs, and made some of the
recordkeeping requirements already
contained in this OMB Collection
Number 3038–0024 into reporting
requirements. These rules added

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additional recordkeeping requirements
by FCMs to assure the segregation of
customer funds. This collection, OMB
Control No. 3038–0024, is needed for
the Commission to continue its financial
monitoring of its registrants.
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
control number. On April 29, 2022, 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, 87
FR 25468 (‘‘60-Day Notice’’). The
Commission did not receive any
relevant comments on the 60-Day
Notice.
Burden Statement: The Commission
is revising its estimate of the burden for
this collection to reflect the current
number of respondents and estimated
burden hours. The Commission is
revising its estimate of the burden for
this collection for approximately 61
FCMs and RFEDs, 53 CSEs and 1,019
IBs. The respondent burden for this
collection is estimated to be as follows:
Estimated Number of Respondents:
1,133.
Estimated Average Burden Hours per
Respondent: 251 hours.2
Estimated Total Annual Burden
Hours: 284,124 hours.3
Frequency of Collection: At various
intervals.4
There are no capital costs or operating
and maintenance costs associated with
this collection.
(Authority: 44 U.S.C. 3501 et seq.)
Dated: June 27, 2022.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2022–14086 Filed 6–30–22; 8:45 am]
BILLING CODE 6351–01–P

COMMODITY FUTURES TRADING
COMMISSION
Agency Information Collection
Activities Under OMB Review
Commodity Futures Trading
Commission.
ACTION: Notice.
AGENCY:

In compliance with the
Paperwork Reduction Act of 1995

SUMMARY:

2 Rounded

off from 250.7714033.
figure is derived from 250.7714033 (burden
hours per respondent) × 1,133 respondents =
284,124.
4 For example, FCMs have both daily and
monthly financial reporting obligations, annual
certified financial and compliance report
obligations, and periodic notice requirements.
3 This

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