Agency Information Collection Activities: Notice of Intent To Extend Collection 3038-0052: Core Principles & Other Requirements for Designated Contract Markets, 19471-19472 [2025-08073]

Download as PDF Federal Register / Vol. 90, No. 88 / Thursday, May 8, 2025 / Notices ddrumheller on DSK120RN23PROD with NOTICES1 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 FOIA. FOR FURTHER INFORMATION CONTACT: Catherine Brescia, Attorney Advisor, Market Participants Division, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581; (202) 418–6236; email: cbrescia@ cftc.gov. SUPPLEMENTARY INFORMATION: Title: Regulations Establishing and Governing the Duties of Swap Dealers and Major Swap Participants (OMB Control No. 3038–0084). This is a request for an extension of a currently approved information collection. Abstract: On April 3, 2012,2 the Commission adopted Commission regulations 23.600 (Risk Management Program for Swap Dealers and Major Swap Participants), 23.601 (Monitoring of Position Limits), 23.602 (Diligent Supervision), 23.603 (Business Continuity and Disaster Recovery), 23.606 (General Information: Availability for Disclosure and Inspection), and 23.607 (Antitrust Considerations) 3 pursuant to section 4s(j) 4 of the Commodity Exchange Act (‘‘CEA’’). The above regulations adopted by the Commission require, among other things, swap dealers (‘‘SD’’) 5 and major swap participants (‘‘MSP’’) 6 to: (1) develop robust and professional risk management systems (including a plan for business continuity and disaster recovery and policies and procedures designed to ensure compliance with applicable position limits) adequate for managing the day-to-day business of the SD or MSP; (2) monitor its trading in swaps to prevent violations of applicable position limits; (3) disclose to the Commission and to the prudential regulator for the SD or MSP, as applicable, information concerning (A) terms and condition of its swaps, (B) swap trading operations, mechanisms, 2 77 FR 20128 (Apr. 3, 2012). CFR 23.600, 23.601, 23.602, 23.603, 23.606, and 23.607. 4 7 U.S.C. 6s(j). 5 For the definition of SD, see section 1a(49) of the CEA and Commission regulation 1.3. 7 U.S.C. 1a(49) and 17 CFR 1.3. 6 For the definitions of MSP, see section 1a(33) of the CEA and Commission regulation 1.3. 7 U.S.C. 1a(33) and 17 CFR 1.3. 3 17 VerDate Sep<11>2014 18:48 May 07, 2025 Jkt 265001 and practices, (C) financial integrity protections relating to swaps, and (D) other information relevant to its trading in swaps; and (4) establish and enforce internal systems and procedures to obtain any necessary information needed to perform their duties and to provide such information to the Commission and any applicable prudential regulator. The Commission believes that the information collection obligations imposed by the above regulations are essential to ensuring that SDs and MSPs maintain adequate and effective risk management. 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.7 On February 4, 2025, 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, 90 FR 9075 (‘‘60-Day Notice’’). The Commission did not receive any relevant comments on the 60-Day Notice. Burden Statement: The Commission is revising its burden estimate for this collection to reflect the current number of respondents and the current number of estimated burden hours.8 The respondent burden for this collection is estimated to be as follows: Estimated Number of Respondents: 106. Estimated Average Burden Hours per Respondent: 1,149.5 hours. Estimated Total Annual Burden Hours: 121,847 hours. Frequency of Collection: As applicable. There are no capital costs or operating and maintenance costs associated with this collection. (Authority: 44 U.S.C. 3501 et seq.) Dated: May 5, 2025. Robert Sidman, Deputy Secretary of the Commission. [FR Doc. 2025–08070 Filed 5–7–25; 8:45 am] BILLING CODE 6351–01–P 7 44 U.S.C. 3512, 5 CFR 1320.5(b)(2)(i) and 1320.8 (b)(3)(vi). See also 46 FR 63035 (Dec. 30, 1981). 8 There was a separation of functions that resulted in a change of estimated burden hours per respondent. The estimated average burden hours increased from 1,148.5 to 1,149.5. In the prior renewal, two functions were combined and used for calculating the estimated burden hours. Separating these functions resulted in an adjustment to burden hours. PO 00000 Frm 00009 Fmt 4703 Sfmt 4703 19471 COMMODITY FUTURES TRADING COMMISSION Agency Information Collection Activities: Notice of Intent To Extend Collection 3038–0052: Core Principles & Other Requirements for Designated Contract Markets Commodity Futures Trading Commission. ACTION: Notice. AGENCY: The Commodity Futures Trading Commission (‘‘Commission’’ or ‘‘CFTC’’) is announcing an opportunity for public comment on the proposed renewal of a collection of certain information by the agency. Under the Paperwork Reduction Act (‘‘PRA’’), Federal agencies are required to publish notice in the Federal Register concerning each proposed collection of information, including each proposed extension of an existing collection of information, and to allow 60 days for public comment. This notice solicits comments on reporting requirements relating to collections of information related to designated contract markets (‘‘DCMs’’) under the Commission’s regulations. SUMMARY: Comments must be submitted on or before July 7, 2025. ADDRESSES: You may submit comments, identified by ‘‘OMB Control No. 3038– 0052’’ by any of the following methods: • The Agency’s website, at https:// comments.cftc.gov/. Follow the instructions for submitting comments through the website. • Mail: Christopher Kirkpatrick, Secretary of the Commission, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581. • Hand Delivery/Courier: Same as Mail above. Please submit your comments using only one method. FOR FURTHER INFORMATION CONTACT: Roger Smith, Associate Chief Counsel, Division of Market Oversight, Commodity Futures Trading Commission, 77 West Jackson Blvd., Suite 800, Chicago, IL 60604; 202–418– 5344; email: rsmith@cftc.gov. SUPPLEMENTARY INFORMATION: Under the PRA, 44 U.S.C. 3501 et seq., Federal agencies must obtain approval from the Office of Management and Budget (‘‘OMB’’) for each collection of information they conduct or sponsor. ‘‘Collection of Information’’ is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3 and includes agency requests or requirements that members of the public DATES: U:\08MYN1.SGM 08MYN1 ddrumheller on DSK120RN23PROD with NOTICES1 19472 Federal Register / Vol. 90, No. 88 / Thursday, May 8, 2025 / Notices submit reports, keep records, or provide information to a third party. Section 3506(c)(2)(A) of the PRA, 44 U.S.C. 3506(c)(2)(A), requires Federal agencies to provide a 60-day notice in the Federal Register concerning each proposed collection of information, including each proposed extension of an existing collection of information, before submitting the collection to OMB for approval. To comply with this requirement, the Commission is publishing notice of the proposed extension of the existing collection of information listed below. 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. Title: Core Principles & Other Requirements for DCMs (OMB Control No. 3038–0052). This is a request for a revision and extension of a currently approved information collection. Abstract: Part 38 of the Commission’s regulations governs the activities of DCMs. The information collected pursuant to Part 38 is necessary for the Commission to evaluate whether entities operating as, or applying to become, DCMs comply with the part 38 and other Commission requirements and the CEA’s statutory requirements. In general, OMB Control Number 3038–0052 covers all information collections in part 38, including subpart A and the DCM core principles (i.e., subparts B through X) as well as the related appendices thereto (i.e., Appendix A—Form DCM; Appendix B—Guidance on, and Acceptable Practices in, Compliance with Core Principles; and Appendix C— Demonstration of Compliance That a Contract Is Not Readily Susceptible to Manipulation). Further, this OMB control number, 3038–0052, includes all information collections related to part 9 (‘‘Rules Relating to Review of Exchange Disciplinary, Access Denial or Other Adverse Actions’) to the extent part 9 is applicable to DCMs. This collection also includes the requirements under regulation 38.251(g) in connection with the reporting of specific market disruption events to the Commission. The collection also includes information collection requirements under regulation 1.52 regarding the Enhanced Protections Afforded Customer and Customer Funds Held by Futures Clearing Merchants and Derivatives Clearing Organizations for DCMs.1 Additionally, this control number includes collections under 1 The Commission notes that § 38.605 incorporates and references § 1.52. VerDate Sep<11>2014 18:48 May 07, 2025 Jkt 265001 regulation 38.1051(n) that relate to system safeguards and cybersecurity testing requirements and requires DCMs to provide the Commission with annual trading volume information. For the majority of collections under OMB control number 3038–0052, the Commission notes that the number of registered, active DCMs has increased from 16 to 18. This increase in the number of registered DCMs has increased the estimated information collection burdens for OMB control number 3038–0052, as shown below. With respect to the collection of information, the CFTC invites comments on: • Whether the proposed collection of information is necessary for the proper performance of the functions of the Commission, including whether the information will have a practical use; • The accuracy of the Commission’s estimate of the burden of the proposed collection of information, including the validity of the methodology and assumptions used; • Ways to enhance the quality, usefulness, and clarity of the information to be collected; and • Ways to minimize the burden of collection of information on those who are to respond, including through the use of appropriate automated electronic, mechanical, or other technological collection techniques or other forms of information technology; e.g., permitting electronic submission of responses. All comments must be submitted in English, or if not, accompanied by an English translation. Comments will be posted as received to https:// www.cftc.gov. You should submit only information that you wish to make available publicly. If you wish for 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.2 The Commission reserves the right, but shall have no obligation, to review, pre-screen, 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 Information Collection Request will be retained in the public comment file and will be considered as required under the Administrative Procedure Act and other applicable 2 17 PO 00000 CFR 145.9. Frm 00010 Fmt 4703 Sfmt 4703 laws, and may be accessible under the Freedom of Information Act. Burden Statement: The Commission is revising its estimate of the burden for this collection. The respondent burden for this collection is estimated to be as follows: Total Estimated Burden for Information Collection 3038–0052 Estimated number of respondents: 18. Estimated total annual number of responses: 8,364 (rounded). Estimated total annual burden hours: 11,802 (rounded). Estimated total annual burden cost: $1,147,642. Frequency of Collection: On occasion. There are no capital costs or operating and maintenance costs associated with this collection. (Authority: 44 U.S.C. 3501 et seq.) Dated: May 5, 2025. Robert Sidman, Deputy Secretary of the Commission. [FR Doc. 2025–08073 Filed 5–7–25; 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 June 9, 2025. 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 SUMMARY: U:\08MYN1.SGM 08MYN1

Agencies

[Federal Register Volume 90, Number 88 (Thursday, May 8, 2025)]
[Notices]
[Pages 19471-19472]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-08073]


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COMMODITY FUTURES TRADING COMMISSION


Agency Information Collection Activities: Notice of Intent To 
Extend Collection 3038-0052: Core Principles & Other Requirements for 
Designated Contract Markets

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: The Commodity Futures Trading Commission (``Commission'' or 
``CFTC'') is announcing an opportunity for public comment on the 
proposed renewal of a collection of certain information by the agency. 
Under the Paperwork Reduction Act (``PRA''), Federal agencies are 
required to publish notice in the Federal Register concerning each 
proposed collection of information, including each proposed extension 
of an existing collection of information, and to allow 60 days for 
public comment. This notice solicits comments on reporting requirements 
relating to collections of information related to designated contract 
markets (``DCMs'') under the Commission's regulations.

DATES: Comments must be submitted on or before July 7, 2025.

ADDRESSES: You may submit comments, identified by ``OMB Control No. 
3038-0052'' by any of the following methods:
     The Agency's website, at https://comments.cftc.gov/. 
Follow the instructions for submitting comments through the website.
     Mail: Christopher Kirkpatrick, Secretary of the 
Commission, Commodity Futures Trading Commission, Three Lafayette 
Centre, 1155 21st Street NW, Washington, DC 20581.
     Hand Delivery/Courier: Same as Mail above.
    Please submit your comments using only one method.

FOR FURTHER INFORMATION CONTACT: Roger Smith, Associate Chief Counsel, 
Division of Market Oversight, Commodity Futures Trading Commission, 77 
West Jackson Blvd., Suite 800, Chicago, IL 60604; 202-418-5344; email: 
[email protected].

SUPPLEMENTARY INFORMATION: Under the PRA, 44 U.S.C. 3501 et seq., 
Federal agencies must obtain approval from the Office of Management and 
Budget (``OMB'') for each collection of information they conduct or 
sponsor. ``Collection of Information'' is defined in 44 U.S.C. 3502(3) 
and 5 CFR 1320.3 and includes agency requests or requirements that 
members of the public

[[Page 19472]]

submit reports, keep records, or provide information to a third party. 
Section 3506(c)(2)(A) of the PRA, 44 U.S.C. 3506(c)(2)(A), requires 
Federal agencies to provide a 60-day notice in the Federal Register 
concerning each proposed collection of information, including each 
proposed extension of an existing collection of information, before 
submitting the collection to OMB for approval. To comply with this 
requirement, the Commission is publishing notice of the proposed 
extension of the existing collection of information listed below. 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.
    Title: Core Principles & Other Requirements for DCMs (OMB Control 
No. 3038-0052). This is a request for a revision and extension of a 
currently approved information collection.
    Abstract: Part 38 of the Commission's regulations governs the 
activities of DCMs. The information collected pursuant to Part 38 is 
necessary for the Commission to evaluate whether entities operating as, 
or applying to become, DCMs comply with the part 38 and other 
Commission requirements and the CEA's statutory requirements.
    In general, OMB Control Number 3038-0052 covers all information 
collections in part 38, including subpart A and the DCM core principles 
(i.e., subparts B through X) as well as the related appendices thereto 
(i.e., Appendix A--Form DCM; Appendix B--Guidance on, and Acceptable 
Practices in, Compliance with Core Principles; and Appendix C--
Demonstration of Compliance That a Contract Is Not Readily Susceptible 
to Manipulation). Further, this OMB control number, 3038-0052, includes 
all information collections related to part 9 (``Rules Relating to 
Review of Exchange Disciplinary, Access Denial or Other Adverse 
Actions') to the extent part 9 is applicable to DCMs. This collection 
also includes the requirements under regulation 38.251(g) in connection 
with the reporting of specific market disruption events to the 
Commission.
    The collection also includes information collection requirements 
under regulation 1.52 regarding the Enhanced Protections Afforded 
Customer and Customer Funds Held by Futures Clearing Merchants and 
Derivatives Clearing Organizations for DCMs.\1\ Additionally, this 
control number includes collections under regulation 38.1051(n) that 
relate to system safeguards and cybersecurity testing requirements and 
requires DCMs to provide the Commission with annual trading volume 
information. For the majority of collections under OMB control number 
3038-0052, the Commission notes that the number of registered, active 
DCMs has increased from 16 to 18. This increase in the number of 
registered DCMs has increased the estimated information collection 
burdens for OMB control number 3038-0052, as shown below.
---------------------------------------------------------------------------

    \1\ The Commission notes that Sec.  38.605 incorporates and 
references Sec.  1.52.
---------------------------------------------------------------------------

    With respect to the collection of information, the CFTC invites 
comments on:
     Whether the proposed collection of information is 
necessary for the proper performance of the functions of the 
Commission, including whether the information will have a practical 
use;
     The accuracy of the Commission's estimate of the burden of 
the proposed collection of information, including the validity of the 
methodology and assumptions used;
     Ways to enhance the quality, usefulness, and clarity of 
the information to be collected; and
     Ways to minimize the burden of collection of information 
on those who are to respond, including through the use of appropriate 
automated electronic, mechanical, or other technological collection 
techniques or other forms of information technology; e.g., permitting 
electronic submission of responses.
    All comments must be submitted in English, or if not, accompanied 
by an English translation. Comments will be posted as received to 
https://www.cftc.gov. You should submit only information that you wish 
to make available publicly. If you wish for 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 Sec.  145.9 of the Commission's regulations.\2\
---------------------------------------------------------------------------

    \2\ 17 CFR 145.9.
---------------------------------------------------------------------------

    The Commission reserves the right, but shall have no obligation, to 
review, pre-screen, 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 Information Collection Request 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.
    Burden Statement: The Commission is revising its estimate of the 
burden for this collection. The respondent burden for this collection 
is estimated to be as follows:

Total Estimated Burden for Information Collection 3038-0052

    Estimated number of respondents: 18.
    Estimated total annual number of responses: 8,364 (rounded).
    Estimated total annual burden hours: 11,802 (rounded).
    Estimated total annual burden cost: $1,147,642.
    Frequency of Collection: On occasion.
    There are no capital costs or operating and maintenance costs 
associated with this collection.

    (Authority: 44 U.S.C. 3501 et seq.)

    Dated: May 5, 2025.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2025-08073 Filed 5-7-25; 8:45 am]
BILLING CODE 6351-01-P
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