[Federal Register Volume 82, Number 181 (Wednesday, September 20, 2017)]
[Notices]
[Pages 43946-43947]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-20025]


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

COMMODITY FUTURES TRADING COMMISSION


Agency Information Collection Activities Under OMB Review

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: In compliance with the Paperwork Reduction Act of 1995 
(``PRA''), 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.

DATES: Comments must be submitted on or before October 20, 2017.

ADDRESSES: Comments regarding the burden estimated or any other aspect 
of the information collection, including suggestions for reducing the 
burden, may be submitted directly to the Office of Information and 
Regulatory Affairs (``OIRA'') in OMB, within 30 days of the notice's 
publication, by either of the following methods. Please identify the 
comments by OMB Control No. 3038-0079.
     By email addressed to: [email protected]; or
     By mail addressed to: Office of Information and Regulatory 
Affairs, Office of Management and Budget, Attention: Desk Officer for 
the Commodity Futures Trading Commission, 725 17th Street NW., 
Washington, DC 20503.
    A copy of all comments submitted to OIRA should be sent to the 
Commodity Futures Trading Commission (``CFTC'' or ``Commission'') by 
either of the following methods. The copies should refer to OMB Control 
No. 3038-0079.
     By submission through the Commission's Web site: http://comments.cftc.gov. Please follow the instructions for submitting 
comments through the Web site;
     By mail addressed to: Christopher Kirkpatrick, Secretary 
of the Commission, Commodity Futures Trading Commission, Three 
Lafayette Centre, 1155 21st Street NW., Washington, DC 20581; or
     By hand delivery/courier to: The address listed above for 
submission by mail.

FOR FURTHER INFORMATION CONTACT: Katherine Driscoll, Associate Chief 
Counsel, (202) 418-5544, [email protected]; or Jacob Chachkin, Special 
Counsel, 202-418-5496, [email protected], both in the CFTC Division of

[[Page 43947]]

Swap Dealer and Intermediary Oversight.
    Supporting statements. A copy of the supporting statements for the 
collection of information discussed herein may be obtained by visiting 
http://RegInfo.gov.

SUPPLEMENTARY INFORMATION: 
    Title: Conflicts of Interest Policies and Procedures by Swap 
Dealers and Major Swap Participants (OMB Control No. 3038-0079). This 
is a request for an amendment to a currently approved information 
collection.
    Abstract: In 2012, the Commission promulgated Business Conduct 
Standards for Swap Dealers and Major Swap Participants with 
Counterparties (``External Business Conduct Standards Final 
Rulemaking'') \1\ which include all of Subpart H of Part 23 of the 
Commission's regulations (``EBCS Rules'').\2\ In the External Business 
Conduct Standards Final Rulemaking, the Commission stated that the 
information collections associated with the EBCS Rules were part of the 
overall supervision, compliance and recordkeeping requirements imposed 
by the Commission in certain other rulemakings including, among others, 
the collection of information for rules on Conflicts of Interest 
Policies and Procedures by Swap Dealers and Major Swap Participants 
under Sec.  23.605 under OMB Collection No. 3038-0079. While the 
collections associated with the EBCS Rules do overlap with the 
requirements in certain other Commission regulations, the OMB 
collections associated with those other Commission regulations do not 
accurately reflect the burdens imposed by the EBCS Rules. The 
Commission is proposing to amend the information collection under OMB 
Control No. 3038-0079 to clearly reflect the paperwork burden imposed 
by the EBCS Rules under Sec. Sec.  23.401-450 and ensure that the 
paperwork burden of the EBCS Rules is centrally located under OMB 
Control No. 3038-0079. In addition, the Commission will be retitling 
the collection under OMB Control No. 3038-0079 ``Swap Dealer and Major 
Swap Participant Conflicts of Interest and Business Conduct Standards 
with Counterparties'' to more accurately reflect its coverage. The 
collections of information contained in the EBCS Rules are necessary to 
implement requirements set forth in the Dodd-Frank Wall Street Reform 
and Consumer Protection Act \3\ and for the protection of investors and 
market participants.
---------------------------------------------------------------------------

    \1\ Business Conduct Standards for Swap Dealers and Major Swap 
Participants with Counterparties, 77 FR 9734, Feb. 17, 2012.
    \2\ Subpart H of Part 23 is titled ``Business Conduct Standards 
for Swap Dealers and Major Swap Participants Dealing with 
Counterparties, Including Special Entities.'' Subpart H includes the 
following provisions: Sec.  23.400 (Scope); Sec.  23.401 
(Definitions); Sec.  23.402 (General Provisions); Sec.  23.410 
(Prohibition on fraud, manipulation and other abusive practices); 
Sec.  23.430 (Verification of counterparty eligibility); Sec.  
23.431 (Disclosures of material information); Sec.  23.432 (Clearing 
disclosures); Sec.  23.433 Communications--fair dealing); Sec.  
23.434 (Recommendations to counterparties--institutional 
suitability; Sec.  23.440 (Requirements for swap dealers acting as 
advisors to Special Entities); Sec.  23.450 (Requirements for swap 
dealers and major swap participants acting counterparties to Special 
Entities); and Sec.  23.451 (Political contributions by certain swap 
dealers).
    \3\ See Dodd-Frank Wall Street Reform and Consumer Protection 
Act, Public Law 111-203, 124 Stat. 1376 (2010). The text of the 
Dodd-Frank Act may be accessed at: http://www.cftc.gov/ucm/groups/public/@swaps/documents/file/hr4173_enrolledbill.pdf.
---------------------------------------------------------------------------

    On June 20, 2017, the Commission published in the Federal Register 
a notice of the proposed extension of this information collection and 
provided 60 days for public comment on the proposed extension. See 82 
FR 28050 (June 20, 2017). The Commission received no relevant comments.
    Burden Statement: The respondent burden for this collection is 
detailed below and includes the burden currently associated with OMB 
Collection No. 3038-0079 in connection with Sec.  23.605 (Conflicts of 
Interest Policies and Procedures for Swap Dealers and Major Swap 
Participants) and the EBCS Rules. The Commission estimates the burden 
of this collection of information as follows:
    Respondents/Affected Entities: Swap Dealers and Major Swap 
Participants.
    Estimated Number of Respondents: 102.
    Estimated Average Burden Hours per Respondent: 2,352.9 hours.
    Estimated Total Annual Burden on Respondents: 240,000 hours.
    Frequency of Collection: Ongoing.
    Comment instructions. 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. You should submit only information 
that you wish to make available publicly. If you wish the Commission to 
consider information that you believe is exempt from disclosure under 
the Freedom of Information Act (``FOIA''), a petition for confidential 
treatment of the exempt information may be submitted according to the 
procedures established in Sec.  145.9 of the Commission's regulations, 
17 CFR 145.9. The Commission reserves the right, but shall have no 
obligation, to review, pre-screen, filter, redact, refuse or remove any 
or all of your submission from http://www.cftc.gov that it may deem to 
be inappropriate for publication, such as obscene language. All 
submissions that have been redacted or removed that contain comments on 
the merits of the ICR will be retained in the public comment file and 
will be considered as required under the Administrative Procedure Act 
and other applicable laws, and may be accessible under the FOIA.

(Authority: 44 U.S.C. 3501 et seq.)

    Dated: September 15, 2017.
Robert N. Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2017-20025 Filed 9-19-17; 8:45 am]
 BILLING CODE 6351-01-P