[Federal Register Volume 84, Number 189 (Monday, September 30, 2019)]
[Notices]
[Pages 51522-51523]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-21077]


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COMMODITY FUTURES TRADING COMMISSION


Agency Information Collection Activities Under OMB Review

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.

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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 30, 2019.

ADDRESSES: Comments regarding the burden estimate 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 this notice's 
publication by either of the following methods. Please identify the 
comments by ``OMB Control No. 3038-0067.''
     By email addressed to: [email protected] or
     By mail addressed to: The 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. 3038-0067.''
     By mail addressed to: Christopher Kirkpatrick, Secretary 
of the Commission, Commodity Futures Trading Commission, Three 
Lafayette Centre, 1155 21st Street NW, Washington, DC 20581;
     By Hand Delivery/Courier to the same address; or
     Through the Commission's website at http://comments.cftc.gov. Please follow the instructions for submitting 
comments through the website.
    Please submit your comments to the Commission using only one 
method. A copy of the supporting statement for the collection of 
information discussed herein may be obtained by visiting http://RegInfo.gov.
    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, 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.\1\ 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 Freedom of 
Information Act.
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    \1\ 17 CFR 145.9.

FOR FURTHER INFORMATION CONTACT: Jacob Chachkin, Special Counsel, 
Division of Swap Dealer and Intermediary Oversight, Commodity Futures 
Trading Commission, (202) 418-5496, email: [email protected], and 
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refer to OMB Control No. 3038-0067.

SUPPLEMENTARY INFORMATION: 
    Title: Part 162--Protection of Consumer Information under the Fair 
Credit Reporting Act (OMB Control No. 3038-0067). This is a request for 
an extension of a currently approved information collection.
    Abstract: On July 21, 2010, President Obama signed into law the 
Dodd-Frank Wall Street Reform and Consumer Protection Act (``Dodd-Frank 
Act'').\2\ Title X of the Dodd-Frank Act, which is titled the Consumer 
Financial Protection Act of 2010 (``CFP Act''), amends a number of 
federal consumer protection laws enacted prior to the Dodd-Frank Act 
including, in relevant part, the Fair Credit Reporting Act 
(``FCRA'')\3\ and the Fair and Accurate

[[Page 51523]]

Credit Transactions Act of 2003 (``FACT Act'').\4\ Specifically, 
Section 1088 of the CFP Act sets out certain amendments to the FCRA and 
the FACT Act directing the Commission to promulgate regulations that 
are intended to provide privacy protections to certain consumer 
information held by an entity that is subject to the jurisdiction of 
the Commission.
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    \2\ Public Law 111-203, 124 Stat. 1376 (2010).
    \3\ 15 U.S.C. 1681-1681x.
    \4\ Public Law 108-159, 117 Stat. 1952, 1980 (2003).
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    Section 1088 amends section 214(b) of the FACT Act--which added 
section 624 to the FCRA in 2003--and directs the Commission to 
implement the provisions of section 624 of the FCRA with respect to 
persons that are subject to the Commission's enforcement jurisdiction. 
Section 624 of the FCRA gives a consumer the right to block affiliates 
of an entity subject to the Commission's jurisdiction from using 
certain information obtained from such entity to make solicitations to 
that consumer (hereinafter referred to as the ``affiliate marketing 
rules'').\5\ Under the affiliate marketing rules, the entities covered 
by the regulations are expected to prepare and provide clear, 
conspicuous and concise opt-out notices to any consumers with whom such 
entities have a pre-existing business relationship. A covered entity 
only has to provide an opt-out notice to the extent that an affiliate 
of the covered entity plans to make a solicitation to any of the 
covered entity's consumers. The purpose of the opt-out notice is to 
provide consumers with the ability to prohibit marketing solicitations 
from affiliate businesses that do not have a pre-existing business 
relationship with the consumers, but that do have access to such 
consumers' nonpublic, personal information. A covered entity is 
required to send opt-out notices at the maximum of once every five 
years.
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    \5\ The affiliate marketing rules are found in part 162, subpart 
A (Business Affiliate Marketing Rules) of the CFTC's regulations. 17 
CFR part 162, subpart A.
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    Section 1088 of the CFP Act also amends section 628 of the FCRA and 
mandates that the Commission implement regulations requiring persons 
subject to the Commission's jurisdiction who possess or maintain 
consumer report information in connection with their business 
activities to properly dispose of that information (hereinafter 
referred to as the ``disposal rules'').\6\ Under the disposal rules, 
the entities covered by the regulations are expected to develop and 
implement a written disposal plan with respect to any consumer 
information within such entities' possession. The regulations provide 
that a covered entity develop a written disposal plan that is tailored 
to the size and complexity of such entity's business. The purpose of 
the written disposal plan is to establish a formal plan for the 
disposal of nonpublic, consumer information, which otherwise could be 
illegally confiscated and used by unauthorized third parties. Under the 
rules, a covered entity is required to develop a written disposal plan 
only once, but may subsequently amend such plan from time to time.
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    \6\ The disposal rules are found in part 162, subpart B 
(Disposal Rules) of the CFTC's regulations. 17 CFR part 162, subpart 
B.
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    In addition, Section 1088 of the CFP Act amended the FCRA by adding 
the CFTC and the Securities and Exchange Commission (``SEC,'' together 
with the CFTC, the ``Commissions'') to the list of federal agencies 
required to jointly prescribe and enforce identity theft red flags 
rules and guidelines and card issuer rules. Thus, the Dodd-Frank Act 
provides for the transfer of rulemaking responsibility and enforcement 
authority to the CFTC and SEC with respect to the entities under their 
respective jurisdiction. Accordingly, the Commissions have issued final 
rules and guidelines (hereinafter referred to as the ``identity theft 
rules'') \7\ to implement new statutory provisions enacted by the CFP 
Act that amend section 615(e) of the FCRA and direct the Commissions to 
prescribe rules requiring entities that are subject to the Commissions' 
jurisdiction to address identity theft. Under the identity theft rules, 
entities covered by the regulation are required to develop and 
implement reasonable policies and procedures to identify, detect, and 
respond to relevant red flags for identity theft that are appropriate 
to the size and complexity of such entity's business and, in the case 
of entities that issue credit or debit cards, to assess the validity 
of, and communicate with cardholders regarding, address changes.\8\ 
They are also required to provide for the continued administration of 
identity theft policies and procedures.
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    \7\ The CFTC's identity theft rules are found in part 162, 
subpart C (Identity Theft Red Flags) of the CFTC's regulations. 17 
CFR part 162, subpart C.
    \8\ The CFTC understands that CFTC-regulated entities generally 
do not issue credit or debit cards, but instead may partner with 
other entities, such as banks, that issue cards on their behalf. 
These other entities, which are not regulated by the CFTC, are 
already subject to substantially similar change of address 
obligations pursuant to other federal regulators' identity theft red 
flags rules. Therefore, the CFTC does not expect that any CFTC-
regulated entities will be subject to the related information 
collection requirements under the CFTC's identity theft rules.
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    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. On July 26, 2019, the Commission 
published in the Federal Register notice of the proposed extension of 
this information collection and provided 60 days for public comment on 
the proposed extension, 84 FR 36086 (``60-Day Notice''). The Commission 
did not receive any relevant comments on the 60-Day Notice.
    Burden Statement: The Commission is revising its burden estimate 
for this collection to reflect its estimate of the current number of 
CFTC registrants subject to the requirements of part 162 regulations. 
In addition, this burden estimate reflects the total burden hours from 
the affiliate marketing rules (subpart A), the disposal rules (subpart 
B), and the identity theft rules (subpart C)--the first two categories 
of which were inadvertently omitted from previous renewals. Thus the 
current renewal aims to correct past omissions by including burden 
calculations from all three categories under part 162.
    Accordingly, the respondent burden for this collection is estimated 
to be as follows:
    Estimated Number of Respondents: 4,488.
    Estimated Average Burden Hours per Respondent: 13.25.\9\
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    \9\ This number reflects the average aggregate burden hours, per 
respondent, in response to: (a) disclosure (1 hr.) and recordkeeping 
requirements (3.5 hrs) under the affiliate marketing rules, (b) 
recordkeeping requirements under the disposal rules (5.9 hrs), and 
(c) recordkeeping requirements under the identity theft rules (2.85 
hrs).
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    Estimated Total Annual Burden Hours: 59,459.
    Frequency of Collection: As applicable.
    There are no capital costs or operating and maintenance costs 
associated with this collection.

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

    Dated: September 24, 2019.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2019-21077 Filed 9-27-19; 8:45 am]
BILLING CODE 6351-01-P