Commodity Futures Trading Commission.
The Commodity Futures Trading Commission (CFTC) is announcing an opportunity for public comment on the proposed collection of certain information by the agency. Under the Paperwork Reduction Act of 1995 (PRA), 44 U.S.C. 3501 et seq., Federal agencies are required to publish notice in the Federal Register concerning each proposed collection of information, and to allow 60 days for comment in response to the notice. This notice solicits comments on requirements relating to information collected to assist the Commission in the prevention of market manipulation.
Comments must be submitted on or before October 26, 2010.Start Further Info
For Further Information or a Copy, Contact:
Riva Spear Adriance, Division of Market Oversight, U.S. Commodity Futures Trading Commission, 1155 21st Street, NW., Washington, DC 20581, (202) 418-5494; FAX: (202) 418-5527; e-mail: firstname.lastname@example.org and refer to OMB Control No. 3038-0054.End Further Info End Preamble Start Supplemental Information
Under the PRA, 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(c) and includes agency requests or requirements that members of the public submit reports, keep records, or provide information to a third party. Section 350(c)(2)(A) of the PRA, 44 Section 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 to approve. To comply with this requirement, the CFTC is publishing notice of the proposed collection of the information below.
With respect to the following 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 minimize the burden of collection of information on those who are to respond, including through the use of appropriate electronic, mechanical, or other technological collection techniques or other forms of information technology; e.g., permitting electronic submission of responses.Start Printed Page 52732
Establishing Procedures To Implement the Notification Requirements for Entities Operating as Exempt—Markets OMB Control No. 3038-0054—Extension
Sections 2(h)(3) through (5) of the Commodity Exchange Act (Act) add exempt commercial markets as 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 exempt commercial markets consistent with sections 2(h)(5)(B) of the Act. An exempt commercial markets consistent with Section 2(h)(5)(B) of the Act. An exempt commercial market 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's reporting requirements. The Act affirmatively vests the Commission with comprehensive antimanipulation enforcement authority over these trading facilities. The Commission is charged with monitoring these markets for manipulation and enforcing the antimanipulation 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 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 an “exempt board of trade.” Rule 36.2 implements regulations that define those commodities that are eligible to trade on an exempt board of trade. Rule 36.2(b) implements the notification requirements of Section 5d of the Act. Rule 36.2(b)(1) requires exempt boards of trade relying on this exemption to disclose to traders that the facility and trading on the facility are not regulated by the Commission. This requirement is necessary to make manifest the nature of the market and to avoid misleading the public. The Commission estimates the burden of this collection of information as follows:
Estimated Annual Reporting Burden
Number of Respondents: 25.
Total Annual Responses: 25.
Total Annual Hours: 250.
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.
Riva Spear Adriance, 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, Attention: Desk Officer for CFTC, 725 17th Street, Washington, DC 20503.Start Signature
Dated: August 19, 2010.
Secretary of the Commission.
[FR Doc. 2010-21144 Filed 8-26-10; 8:45 am]
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