[Federal Register Volume 75, Number 233 (Monday, December 6, 2010)]
[Notices]
[Pages 75665-75666]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-30474]
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COMMODITY FUTURES TRADING COMMISSION
Agency Information Collection Activities Under OMB Review: Notice
of Intent To Renew Collection 3038-0054, Establishing Procedures for
Entities Operating as Exempt Markets
AGENCY: Commodity Futures Trading Commission.
ACTION: Notice.
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SUMMARY: In compliance with the Paperwork Reduction Act (44 U.S.C. 3501
et seq.), this notice announces that the Information Collection Request
(ICR) abstracted below has been forwarded to the Office of Management
and Budget (OMB) for review and comment. The ICR describes the nature
of the information collection and the expected costs and burden.
DATES: Comments must be submitted on or before January 5, 2011.
FOR FURTHER INFORMATION CONTACT: David Van Wagner, Chief Counsel,
Division Of Market Oversight, U.S. Commodity Futures Trading
Commission, 1155 21st Street, NW., Washington, DC 20581, (202) 418-
5481; FAX: (202) 418-5527; e-mail: [email protected] and refer to OMB
Control No. 3038-0054.
SUPPLEMENTARY INFORMATION:
Title: Establishing Procedures for Entities Operating as Exempt
Markets, OMB Control No. 3038-0054. This is a request for extension of
a currently approved information collection.
Abstract: Sections 2(h)(3) through (5) of the Commodity Exchange
Act (Act) provides that exempt commercial markets (ECMs) are markets
excluded from the Act's other requirements. The rules implement the
qualifying conditions of the exemption. Rule 36.3(a) implements the
notification requirements, and rule 36.3(b)(1) establishes information
requirements for ECMs consistent with section 2(h)(5)(B) of the Act. An
ECM may provide the Commission with access to transactions conducted on
the facility or it can satisfy its reporting requirements by complying
with the Commission's reporting requirements. The Act affirmatively
vests the Commission with comprehensive anti-manipulation enforcement
authority over these trading facilities. The Commission is charged with
monitoring these markets for manipulation and enforcing the anti-
manipulation provisions of the Act. The informational requirements
imposed by proposed rules are designed to ensure that the Commission
can effectively perform these functions. Section 5d of the Act
establishes a category of market exempt from Commission oversight
referred to as ``exempt boards of trade'' (EBOTs). Rule 36.2 implements
regulations that define those commodities that are eligible to trade on
an EBOT. Rule 36.2(b) implements the notification requirements of
section 5d of the Act. Rule 36.2(b)(1) requires EBOTs relying on this
exemption to disclose to traders that the facility and trading on the
facility is not regulated by the Commission. This requirement is
necessary to make manifest the nature of the market and to avoid
misleading the public.
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. The OMB control numbers for the
CFTC's regulations were published on December 30, 1981. See 46 FR 63035
(Dec. 30, 1981). The Federal Register notice with a 60-day comment
period soliciting comments on this collection of information was
published on August 27, 2010 (75 FR 52731).
Burden statement: The respondent burden for this collection is
estimated to average 20 hours per response. These estimates include the
time needed to review instructions; develop, acquire, install, and
utilize technology and systems for the purposes of collecting,
validating, and verifying information, processing and maintaining
information and disclosing and providing information; adjust the
existing ways to comply with any previously applicable instructions and
requirements; train personnel to be able to respond to a collection of
information; and transmit or otherwise disclose the information.
Respondents/Affected Entities: 23.
Estimated number of responses: 23.
Estimated total annual burden on respondents: 230 hours.
Frequency of collection: Annually.
Send comments regarding the burden estimated or any other aspect of
the information collection, including suggestions for reducing the
burden, to the addresses listed below. Please refer to OMB Control No.
3038-0054 in any correspondence.
David P. Van Wagner, Chief Counsel, Division Of Market Oversight,
U.S. Commodity Futures Trading Commission, 1155 21st Street, NW.,
Washington, DC 20581, and Office of Information and Regulatory Affairs,
Office of Management and Budget,
[[Page 75666]]
Attention: Desk Officer for CFTC, 725 17th Street, Washington, DC
20503.
David Stawick,
Secretary of the Commission.
[FR Doc. 2010-30474 Filed 12-3-10; 8:45 am]
BILLING CODE 6351-01-P