Conflict of Interest Policies and Procedures by Future Commission Merchants and introducing Brokers

Forms and Documents

Document	Type	Status	Availability
2025 Supporting Statement 3038-0078.docx	Supporting Statement A	Uploaded 2025-07-17	Available
2025 Supporting Statement 3038-0078.docx	Supporting Statement A	Uploaded 2025-07-17	Repair queued

IC Document Collections

IC ID	Collection	Type	Status	Form
195305	Conflict of Interest Policies and Procedures by Futures Commission Merchants and Introducing Brokers		Modified

ICR Details

OMB Control No: 3038-0078	ICR Reference No: 202506-3038-003
Status: Active	Previous ICR Reference No: 202207-3038-010
Agency/Subagency: CFTC	Agency Tracking No:
Title: Conflict of Interest Policies and Procedures by Future Commission Merchants and introducing Brokers
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 09/10/2025
Retrieve Notice of Action (NOA)	Date Received in OIRA: 07/21/2025
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2028	36 Months From Approved	09/30/2025
Responses	82,216	0	91,590
Time Burden (Hours)	42,542	0	47,392
Cost Burden (Dollars)	0	0	0

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Abstract: Section 732 of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act, Pub L. No. 111-203, 124 Stat. 1376 (2010)) amended section 4d of the Commodity Exchange Act (“CEA”) to require each futures commission merchant (“FCM”) and introducing broker (“IB”) to implement conflicts of interest systems and procedures that: (1) establish structural and institutional safeguards reasonably designed to ensure that any persons within the firm researching or analyzing the price or market for any commodity are separated by appropriate informational partitions within the firm from the review, pressure or oversight of persons whose involvement in trading or clearing activities might potentially bias their judgment or supervision, and (2) address other issues that the Commission determines to be appropriate. Pursuant to section 4d(c) of the CEA, the Commission adopted regulation 1.71. The regulation generally requires FCMs and IBs to: (1) develop conflicts of interest systems, procedures and disclosures; (2) adopt and implement written policies and procedures reasonably designed to ensure compliance with its conflicts of interest and disclosure obligations; and (3) maintain specified records related to those requirements. “Small introducing brokers,” as defined within the regulation, are subject to modified requirements, but are obligated to adopt certain policies and procedures and to provide specified disclosures. The regulation does not require reporting to the Commission. The recordkeeping obligations imposed by the regulation are essential to ensuring that FCMs and IBs develop and maintain the conflicts of interest systems, procedures, and disclosures required by the CEA and Commission regulations and to the effective evaluation of such registrants’ actual compliance with the CEA and Commission regulations

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Authorizing Statute(s): PL: Pub.L. 11 - 203 124 stat. 1376 (2010) Name of Law: Dodd-Frank Act
   US Code: 7 USC 6d(c) 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:
	90 FR 19687	05/09/2025
30-day Notice:	Federal Register Citation:	Citation Date:
	90 FR 34245	07/21/2025
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
Conflict of Interest Policies and Procedures by Futures Commission Merchants and Introducing Brokers

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ICR Summary 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	82,216	91,590	0	0	-9,374	0
Annual Time Burden (Hours)	42,542	47,392	0	0	-4,850	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: No

Burden Reduction Due to:

Short Statement: There are no program changes. However, the Commission has revised its estimate in light of the current number of Commission registered FCMs and IBs. Since 2022, the number of registrants impacted by this collection has decreased from 1,065 to 959, resulting in an overall decrease in the estimated burden hours for the collection from 47,392 total burden hours to 42,542 annual burden hours, an overall reduction in burden of 4,850 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: 07/21/2025

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