[Federal Register Volume 66, Number 194 (Friday, October 5, 2001)]
[Notices]
[Pages 51025-51026]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-25004]


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COMMODITY FUTURES TRADING COMMISSION


Agency Information Collection Activities: Notice of Intent To 
Renew Collection 3038-0026, Gross Margining of Omnibus Accounts

AGENCY: Commodity Futures Trading Commission.

ACTION:  Notice.

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SUMMARY: 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, including each proposed extension of an existing 
collection of information, and to allow 60 days for public comment in 
response to the notice. This notice solicits comments on Commission 
Regulation 1.58 which

[[Page 51026]]

requires futures commission merchants to carry omnibus accounts on a 
gross, rather than a net basis.

DATES: Comments must be submitted on or before December 4, 2001.

ADDRESSES: Comments may be mailed to Lawrence B. Patent, Division of 
Trading and Markets, U.S. Commodity Futures Trading Commission, 1155 
21st Street, NW., Washington, DC 20581.

FOR FURTHER INFORMATION CONTACT: Lawrence B. Patent, (202) 418-5439; 
FAX: (202) 418-5545; email: [email protected].

SUPPLEMENTARY 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 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 CFTC is publishing notice of the proposed collection 
of information listed 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 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. Gross Margining of Omnibus 
Accounts, OMB control number 3038-0026--Extension.
    Commission Regulation 1.58 requires futures commission merchants to 
carry omnibus accounts on a gross, rather than a net, basis. This rule 
is promulgated pursuant to the Commission's rulemaking authority 
contained in Sections 5 and 5a of the Commodity Exchange Act, 7 U.S.C. 
7 and 7a (2000).
    The Commission estimates the burden of this collection of 
information as follows:

                                                            Estimated Annual Reporting Burden
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                                                    Annual                                                            Total
                 17 CFR section                   number of                  Frequency of response                    annual     Hours per   Total hours
                                                 respondents                                                        responses     response
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1.58...........................................          225  On occasion........................................        3,900         0.08          300
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    Dated: October 2, 2001.
Jean A. Webb,
Secretary of the Commission.
[FR Doc. 01-25004 Filed 10-3-01; 8:45 am]
BILLING CODE 6351-01-M