[Federal Register Volume 70, Number 118 (Tuesday, June 21, 2005)]
[Notices]
[Pages 35641-35642]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-12216]


=======================================================================
-----------------------------------------------------------------------

COMMODITY FUTURES TRADING COMMISSION


Agency Information Collection Activities: Notification of Pending 
Legal Proceedings

AGENCY: Commodity Futures Trading Commission.

ACTION: 

-----------------------------------------------------------------------N
otice.

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 the rule 
requiring notification of pending legal proceedings pursuant to 17 
C.F.R. 1.60.

DATES: Comments must be submitted on or before August 22, 2005.

ADDRESSES: Comments may be mailed to Gail B. Scott, Office of the 
General Counsel, U.S. Commodity Futures Trading Commission, 1155 21st 
Street, NW., Washington, DC 20581

FOR FURTHER INFORMATION CONTACT: Gail B. Scott, (202) 418-5139; FAX: 
(202) 418-5524; 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 C.F.R. 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.

Notification of Pending Legal Proceedings Pursuant to 17 C.F.R. 1.60, 
OMB Control Number 3038-0033--Extension

    The rule is designed to assist the Commission in monitoring legal 
proceedings involving the responsibilities imposed on contract markets 
and their officials and futures commission merchants and their 
principals by the Commodity Exchange Act, or otherwise.
    The rules require futures commission merchants and introducing 
brokers: (1) To provide their customers with standard risk disclosure 
statements concerning the risk of trading commodity interests; and (2) 
to retain all promotional material and the source of authority for 
information contained therein. The purpose of these rules is to ensure 
that customers are advised of the risks of trading commodity interests 
and to avoid fraud and misrepresentation. 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:

[[Page 35642]]



                                        Estimated Annual Reporting Burden
----------------------------------------------------------------------------------------------------------------
                                                   Annual number   Total annual      Hours per
                 17 CFR section                   of respondents     responses       response       Total hours
----------------------------------------------------------------------------------------------------------------
1.60............................................             235               1             .10             .10
----------------------------------------------------------------------------------------------------------------

    There are no capital costs or operating and maintenance costs 
associated with this collection.

    Dated: June 15, 2005.
Jean A. Webb,
Secretary of the Commission.
[FR Doc. 05-12216 Filed 6-20-05; 8:45 am]
BILLING CODE 6351-01-M