[Federal Register Volume 76, Number 7 (Tuesday, January 11, 2011)]
[Notices]
[Pages 1603-1604]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-326]


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COMMODITY FUTURES TRADING COMMISSION


Agency Information Collection Activities: Proposed Collection, 
Comment Request: Reporting of Pre-enactment Swap Transactions

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.

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SUMMARY: The Commodity Futures Trading Commission (``Commission'' or 
``CFTC'') is announcing an opportunity for public comment on the 
proposed collection of certain information by the agency. Under the 
Paperwork Reduction Act (``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. The Commission recently adopted an interim final 
rule, as required by the Wall Street Reform and Consumer Protection Act 
(``Dodd-Frank Act''), requiring counterparties to a pre-enactment 
unexpired swap to report such swaps according to such rules as the 
Commission may in the future adopt. This notice solicits comments on 
the record retention requirement that is embedded in the interim final 
rule's reporting requirement, which was recognized by the Commission in 
an interpretive note to the final rule.

DATES: Comments must be submitted on or before March 14, 2011.

ADDRESSES: You may submit comments, identified by ``Pre-Enactment Swap 
Collection,'' by any of the following methods:
     The Agency's Web site, at http://comments.cftc.gov/. 
Follow the instructions for submitting comments through the Web site.
     Mail: David A. Stawick, Secretary of the Commission, 
Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st 
Street, NW., Washington, DC 20581.
     Hand Delivery/Courier: Same as mail above.

Please submit your comments using only one method.
    All comments must be submitted in English, or if not, accompanied 
by an English translation. Comments will be posted as received to 
http://www.cftc.gov.

FOR FURTHER INFORMATION CONTACT: Susan Nathan, Division of Market 
Oversight, Senior Special Counsel, CFTC, (202) 418-5133; e-mail: 
[email protected].

[[Page 1604]]


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 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 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.
    Abstract: Section 729 of the Dodd-Frank Act required the CFTC to 
adopt, within 90 days of enactment of the Dodd-Frank Act, an interim 
final rule for the reporting of swap transactions entered into before 
July 21, 2010 whose terms had not expired as of that date (``pre-
enactment unexpired swaps''). Pursuant to this mandate, the CFTC 
adopted an interim final rule requiring specified parties to pre-
enactment unexpired swap transactions to report certain information 
related to such transactions to a swap data repository (``SDR'') or to 
the Commission by the compliance date to be established in reporting 
rules required under Section 2(h)(5) of the CEA, or within 60 days 
after an appropriate SDR becomes registered under Section 21 of the CEA 
and commences operations to receive and maintain data related to such 
swap, whichever occurs first. An interpretative note to the rule 
advises that counterparties that may be required to report to an SDR or 
the CFTC will need to preserve information pertaining to the terms of 
such swaps.
    Burden Statement: The respondent burden for this collection is 
estimated to be .5 hours per response. These estimates include the time 
to locate the information related to the pre-enactment unexpired swap 
transactions and the time to ensure such information is maintained in 
such form as it currently exists.
    Respondents/Affected Entities: Swap Dealers, Major Swap 
Participants, and other counterparties to a swap transaction (i.e., 
end-user, non-SD/non-MSP counterparties).
    Estimated Number of Respondents: 1,800.
    Estimated Total Annual Burden on Respondents: 900 hours.
    Frequency of Collection: Once.

    Issued by the Commission this 5th day of January, 2011.
David Stawick,
Secretary of the Commission.
[FR Doc. 2011-326 Filed 1-10-11; 8:45 am]
BILLING CODE 6351-01-P