Regulations Governing Separate Account Treatment for Withdrawal of Customer Initial Margin

Forms and Documents

Document	Type	Status	Availability
2025 Supporting Statement 3038-0121 (Separate Accounts Final Rule).docx	Supporting Statement A	Uploaded 2025-01-22	Repair queued

IC Document Collections

IC ID	Collection	Type	Status	Form
263147	Regulations Governing Separate Account Treatment for Withdrawal of Customer Initial Margin		Modified

ICR Details

OMB Control No: 3038-0121	ICR Reference No: 202411-3038-002
Status: Received in OIRA	Previous ICR Reference No: 202310-3038-004
Agency/Subagency: CFTC	Agency Tracking No:
Title: Regulations Governing Separate Account Treatment for Withdrawal of Customer Initial Margin
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 01/22/2025

	Requested	Previously Approved
Expiration Date	36 Months From Approved
Responses	949,020	0
Time Burden (Hours)	21,751	0
Cost Burden (Dollars)	0	0

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Abstract: The Commission is amending part 1, with supporting amendments in parts 1, 22, 30, and 39, to codify via direct application to all FCMs the conditional and time-limited no-action position in CFTC Letter No. 19-17, which allows DCOs to permit FCM clearing members to treat the separate accounts of a single customer as accounts of separate entities for purposes of Commission regulation 39.13(g)(8)(iii). The amendments add for all FCMs a margin adequacy requirement similar to that applied to clearing FCMs by DCOs in regulation 39.13(g)(8)(iii) (prohibiting margin withdrawals if such withdrawals would create or exacerbate an under-margining scenario) and provide for separate account treatment for purposes of the margin adequacy requirement, subject to certain conditions designed to mitigate risk consistent with CEA section 4d(a)(2) and the Commission’s implementing regulations. The amendments add new Commission regulation § 1.44 and new appendix A to part 1 and make supporting amendments to Commission regulations §§ 1.3, 1.17, 1.20, 1.32, 1.58, and 1.73 in part 1, 22.2 in part 22, 30.2 and 30.7 in part 30, and 39.13 in part 39.

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Authorizing Statute(s): US Code: 7 USC 7a-1 Name of Law: Commodity Exchange Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3038-AF21	Final or interim final rulemaking	90 FR 7880	01/22/2025

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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

IC Title	Form No.	Form Name
Regulations Governing Separate Account Treatment for Withdrawal of Customer Initial Margin

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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	949,020	0	0	949,020	0	0
Annual Time Burden (Hours)	21,751	0	0	21,751	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: Changing Regulations

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

Burden Reduction Due to:

Short Statement: This is a new collection of information. The CFTC is adopting regulations that add a new Commission regulation § 1.44 and make supporting amendments to other Commission regulations. The regulations introduce an information collection comprising reporting, recordkeeping, and third-party disclosure requirements that would result in an estimated 21,751 annual burden 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: 01/22/2025

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