[Federal Register Volume 70, Number 16 (Wednesday, January 26, 2005)]
[Notices]
[Page 3685]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-1386]



[[Page 3685]]

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COMMODITY FUTURES TRADING COMMISSION


Agency Information Collection Activities: Notice of Intent To 
Renew Collection 3038-0013, Exemptions From Speculative Limits

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, and to allow 60 days for public comment in response to the 
notice. This notice solicits comments on exemptions from speculative 
limits.

DATES: Comments must be submitted on or before March 28, 2005.

ADDRESSES: Comments may be mailed to Judith E. Payne, Division Economic 
Analysis, U.S. Commodity Futures Trading Commission, 1155 21st Street, 
NW., Washington, DC 20581.

FOR FURTHER INFORMATION CONTACT: Gary Martinaitis, (202) 418-5209; FAX: 
(202) 418-5527; e-mail: [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 ether technological collection 
techniques or other forms of information technology; e.g., permitting 
electronic submission of responses.

Exemptions From Speculative Limits, OMB Control Number 3038-0013--
Extension

    Section 4a(a) of the Commodity Exchange Act (Act) allows the 
Commission to set speculative limits in any commodity for future 
delivery in order to prevent excessive speculation. Certain sections of 
the act and/or the Commission's Regulations allow exemptions from the 
speculative limits for persons using the market for hedging and, under 
certain circumstances, for commodity pool operators and similar 
traders. This information collection contains the recordkeeping and 
reporting requirements needed to ensure regulatory compliance with 
Commission rules relating to this issue.
    The Commission estimates the burden of this collection of 
information as follows:

                                        Estimated Annual Reporting Burden
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                                                             Reports                    Estimated
                                              Estimated   annually  by  Total annual    number of      Annual
           Regulations (17 CFR)               number of       each        responses     hours per      burden
                                             respondents   respondent                   response
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Rule 1.47 and 1.48........................             7             2            14             3            42
Part 150..................................             2             1             2             3             6
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    There are not capital costs or operating and maintenance costs 
associated with this collection.

    Dated: January 19, 2005.
Jean A. Webb,
Secretary of the Commission.
[FR Doc. 05-1386 Filed 1-25-05; 8:45 am]
BILLING CODE 6351-01-M