[Federal Register Volume 69, Number 119 (Tuesday, June 22, 2004)]
[Notices]
[Pages 34656-34657]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-14011]


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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 its expected costs and burden; it 
includes the actual data collection instruments [if any].

DATES: Comments must be submitted on or before July 22, 2004.

FOR FURTHER INFORMATION CONTACT: Richard Shilts, Division of Market 
Oversight, U.S. Commodity Futures Trading Commission, 1155 21st Street, 
NW, Washington, DC 20581, (202) 418-5275; FAX: (202) 418-5527; email: 
[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) 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 section 2(h)(5)(B) of the 
Act. And 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 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

[[Page 34657]]

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 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 February 23, 2004 (69 FR 8180-01).
    Burden statement: The respondent burden for this collection is 
estimated to average 10 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 provide 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: 10.
    Estimated number of responses: 10.
    Estimated total annual burden on respondents: 100 hours.
    Frequency of collection: On Occasion.
    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.
    Richard Shiltz, 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.

    Dated: June 15, 2004.
Jean A. Webb,
Secretary of the Commission.
[FR Doc. 04-14011 Filed 6-21-04; 8:45 am]
BILLING CODE 6351-01-M