[Federal Register Volume 72, Number 145 (Monday, July 30, 2007)]
[Notices]
[Pages 41499-41500]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 07-3698]


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COMMODITY FUTURES TRADING COMMISSION


Agency Information Collection Activities Under OMB Review: Notice 
of Intent To Renew Collection 3038-0055, Privacy of Consumer Financial 
Information

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 August 29, 2007.

For Further Information Or a Copy Contact: Lawrence B. Patent, Deputy 
Director, Division of Clearing and Intermediary Oversight, U.S. 
Commodity Futures Trading Commission, 1155 21st Street, NW., 
Washington, DC 20581, (202) 418-5439; FAX: (202) 418-5536; e-mail: 
[email protected] and refer to OMB Control No. 3038-0055.

SUPPLEMENTARY INFORMATION:
    Title: Privacy of Consumer Financial Information, OMB Control No. 
3038-0055. This is a request for extension of a currently approved 
information collection.
    Abstract: Section 124 of the Commodity Futures Modernization Act of 
2000 (``CFMA'') amended the Commodity Exchange Act (the ``Act'') and 
added a new Section 5g to the Act to make the Commission a Federal 
functional regulatory for purposes of applying the provisions of Title 
V, Subtitle A of the Gramm-Leach-Bliley Act (``GLB Act'') addressing 
consumer privacy to any futures commission merchant, commodity trading 
advisor, commodity pool operator or introducing broker that is subject 
to the Commission's jurisdiction with respect to any financial 
activity. In general, Title V requires financial institutions to 
provide notice to consumers about the institution's privacy policies 
and practices, to restrict the ability of a financial institution to 
share nonpublic personal information about consumers to nonaffiliated 
third parties, and to permit consumers to prevent the institution from 
disclosing nonpublic personal information about them to certain non-
affiliated third parties by ``opting out'' of that disclosure. These 
regulations implement the mandates of Section 124 and Title V of the 
GLB Act.
    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 May 22, 2007 (72 FR 28686).
    Burden statement: The respondent burden for this collection is 
estimated to average .27 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 providing 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: 4,500.
    Estimated number of responses: 342,000.
    Estimated total annual burden on respondents: 93,420 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. 
3038-0055 in any correspondence.
    Lawrence B. Patent, Deputy Director, Division of Clearing and 
Intermediary 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.


[[Page 41500]]


    Dated: July 24, 2007.
Eileen Donovan,
Acting Secretary of the Commission.
[FR Doc. 07-3698 Filed 7-27-07; 8:45 am]
BILLING CODE 6351-01-M