[Federal Register Volume 73, Number 219 (Wednesday, November 12, 2008)]
[Notices]
[Pages 66845-66847]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-26834]


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COMMODITY FUTURES TRADING COMMISSION


Agency Information Collection Activities: Rules Relating to 
Regulation of Domestic Exchange-Traded Options

AGENCY: Commodity Futures Trading Commission.

[[Page 66846]]


ACTION: Extension of an Existing Collection.

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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 rules related 
to risk disclosure concerning exchange-traded commodity options.

DATES: Comments must be submitted on or before January 12, 2009.

ADDRESSES: Comments may be mailed to William Penner, Division of 
Clearing and Intermediary Oversight, U.S. Commodity Futures Trading 
Commission, 1155 21st Street, NW., Washington, DC 20581.

FOR FURTHER INFORMATION CONTACT: William Penner, (202) 418-5407; Fax: 
(202) 418-5536; 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 other technological collection 
techniques or other forms of information technology; e.g., permitting 
electronic submission of responses.

Rules Relating to Regulation of Domestic Exchange-Traded Options, OMB 
Control Number 3038-0007--Extension

    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:

                                        Estimated Annual Reporting Burden
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                                     Estimated                                                       Estimated
                                     number of        Reports                        Estimated     total number
           Regulation             respondents or    annually by    Total annual   average number    of hours of
                                   recordkeepers       each          responses     of hours per    annual burden
                                     per year       respondent                       response     in fiscal year
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Reporting:
    38.3, 38.4, 40.2 and 40.3              13.00            2.00           26.00           25.00          650.00
     (Procedure for designation
     or self-certification).....
    33.7--(Risk disclosure).....          175.00          115.00       20,125.00            0.08        1,610.00
 
        Subtotal (reporting               188.00  ..............       20,151.00  ..............        2,260.00
         requirements)..........
Recordkeeping:
    33.8--(Retention of                   225.00            1.00          225.00           25.00        5,625.00
     promotional material)......
        Subtotal (recordkeeping   ..............  ..............  ..............  ..............  ..............
         requirements)..........
 
            Grand total                   413.00  ..............       20,376.00  ..............        7,785.00
             (reporting and
             recordkeeping).....
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[[Page 66847]]

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

    Dated: November 5, 2008.
David A. Stawick,
Secretary of the Commission.
 [FR Doc. E8-26834 Filed 11-10-08; 8:45 am]
BILLING CODE 6351-01-P