[Federal Register Volume 85, Number 186 (Thursday, September 24, 2020)]
[Notices]
[Pages 60134-60135]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-21097]


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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 burdens.

DATES: Comments must be submitted on or before October 26, 2020.

ADDRESSES: Written comments regarding the burden estimated or any other 
aspect of the information collection should be submitted within 30 days 
of this notice's publication to OIRA, at https://www.reginfo.gov/public/do/PRAMain. Please find this particular information collection 
by selecting ``Currently under 30-day Review--Open for Public 
Comments'' or by using the website's search function. Comments can be 
entered electronically by clicking on the ``comment'' button next to 
the information collection on the ``OIRA Information Collections Under 
Review'' page, or the ``View ICR--Agency Submission'' page. A copy of 
the supporting statement for the collection of information discussed 
herein may be obtained by visiting https://www.reginfo.gov/public/do/PRAMain.
    In addition to the submission of comments to https://Reginfo.gov as 
indicated above, a copy of all comments submitted to OIRA may also be 
submitted to the Commodity Futures Trading Commission (the 
``Commission'' or ``CFTC'') by clicking on the ``Submit Comment'' box 
next to the descriptive entry for OMB Control No. 3038-0023 and 3038-
0072, at https://comments.cftc.gov/FederalRegister/PublicInfo.aspx.
    Or by either of the following methods:
     Mail: Christopher Kirkpatrick, 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.
    All comments must be submitted in English, or if not, accompanied 
by an English translation. Comments submitted to the Commission should 
include 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 https://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: Joshua Sterling, Director, (202) 418-
6700, [email protected]; Amanda Olear, Deputy Director, (202) 418-
5283, [email protected]; or Christopher W. Cummings, Special Counsel, 
(202) 418-5445, [email protected], Division of Swap Dealer and 
Intermediary Oversight, Commodity Futures Trading Commission, 1155 21st 
Street NW, Washington, DC 20581, and refer to OMB Control Numbers 3038-
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0023 and 3038-0072.

SUPPLEMENTARY INFORMATION:
    Titles: Registration Under the Commodity Exchange Act (OMB control 
number 3038-0023); Registration of Swap Dealers and Major Swap 
Participants (OMB control number 3038-0072). This is a request for 
extension and revision of these currently approved information 
collections.
    Abstract: In Adoption of Revised Registration Form 8-R, 85 FR 37880 
(June 24, 2020), the Commission published a revised version of 
Commission Form 8-R. The Form 8-R is the application form that 
individuals must use to register with the Commission as an associated 
person, floor broker, floor trader, floor trader order enterer, or to 
be listed as a principal of a registrant. Separately, in Agency 
Information Collection Activities: Notice of Intent to Extend and 
Revise Collections, Comment Request: Adoption of Revised Registration 
Form 8-R, 85 FR 37922 (June 24, 2020) (``60-Day Notice''), the 
Commission addressed the PRA

[[Page 60135]]

implications of the revisions to Form 8-R. As indicated above, Form 8-R 
is covered by two OMB control numbers. OMB control number 3038-0023 
applies to Form 8-R in connection with registering as a floor broker or 
as a floor trader, or registering as an associated person of, or being 
listed as a principal of, a futures commission merchant, retail foreign 
exchange dealer, introducing broker, commodity trading advisor, 
commodity pool operator, floor trader firm or leverage transaction 
merchant.\2\ OMB control number 3038-0072 applies to Form 8-R in 
connection with applying to be listed as a principal of a swap dealer 
or major swap participant.\3\
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    \2\ OMB control number 3038-0023 also covers Commission Forms 7-
R, 7-W and 8-T in connection with various registration activities 
involving floor brokers, floor traders, futures commission 
merchants, retail foreign exchange dealers, introducing brokers, 
commodity trading advisors, commodity pool operators, floor trader 
firms or leverage transaction merchants, and their principals and 
associated persons, as applicable. Forms 7-R, 7-W and 8-T were not 
amended in connection with the revision of Form 8-R.
    \3\ OMB control number 3038-0072 also covers Commission Forms 7-
R, 7-W and 8-T in connection with various registration activities 
involving swap dealers and major swap participants, and principals 
thereof. Forms 7-R, 7-W and 8-T were not amended in connection with 
the revision of Form 8-R.
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I. Revision of Commission Form 8-R

    The revised Form 8-R contains several changes that increase the 
existing information collection burden (currently 1 hour) associated 
with Form 8-R. The Commission estimates that the changes, which are 
discussed below, when considered together in aggregate add a total of 
0.1 burden hours to the information collection burdens associated with 
Form 8-R.
    First, in the ``Completing the Proficiency Requirements Section,'' 
a new paragraph is added describing the obligation of an individual 
seeking approval as a swap associated person or as a sole-proprietor 
swap firm to satisfy the Swaps Proficiency Requirements (recently 
implemented by NFA with the Commission's approval),\4\ and what 
constitutes satisfaction of those requirements. Second, in the 
application itself, a new question is added asking whether the 
applicant has completed the Swaps Proficiency Requirements within the 
past two years.
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    \4\ See, NFA Interpretive Notice entitled ``NFA Bylaw 301 And 
Compliance Rule 2-24: Proficiency Requirements for Swap APs,'' 
effective January 31, 2020.
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    The revised Form 8-R also contains several changes that do not 
alter the information collection burdens associated with Form 8-R. 
First, the revised form replaces the FBI-mandated disclosure, for 
persons whose fingerprints are taken for purposes other than criminal 
justice, with an updated version of that disclosure. Second, in the 
``Definition of Terms'' section, the definition of ``adversary action'' 
is revised to conform the definition to the way the term is used in the 
form's ``Disciplinary Information Section.'' Finally, the words 
``entity'' and ``person'' are underlined where they occur in the text 
to indicate that these are terms that are defined in the ``Definition 
of Terms'' section.

II. Comments

    In the 60-Day Notice, the Commission provided 60 days for public 
comment on the extension and revision of the currently approved 
information collections under OMB control numbers 3038-0023 and 3038-
0072 including, among other things, its estimates regarding the 
modified information collection burdens associated with the amendments 
to Form 8-R. The Commission did not receive any comments that addressed 
any of its estimates or any other aspect of the information collection.
    Burden Statement: As explained above, the Commission believes that 
the revisions to Form 8-R will increase the information collection 
burdens associated with that Form under OMB control numbers 3038-0023 
and 3038-0072.

 OMB control number 3038-0023

    The Commission estimates the burden of this collection of 
information under OMB control number 3038-0023 to be:
    Respondents/Affected Entities: Users of Form 8-R, specifically (i) 
associated persons of futures commission merchants, retail foreign 
exchange dealers, introducing brokers, commodity trading advisors, 
commodity pool operators, and leverage transaction merchants; floor 
brokers; (ii) principals of futures commission merchants, retail 
foreign exchange dealers, introducing brokers, commodity trading 
advisors, commodity pool operators, floor trader firms, or leverage 
transaction merchants; (iii) floor brokers; (iv) floor traders; and (v) 
floor trader order enterers.
    Estimated number of respondents: 78,055.
    Estimated total annual burden on respondents: 7,856 hours.
    Frequency of collection: Periodically.
    There are no capital costs or operating and maintenance costs 
associated with this collection.

 OMB control number 3038-0072

    The Commission further estimates that as a result of the revisions 
to Form 8-R, the burden of the collection of information under OMB 
control number 3038-0072 will be:
    Respondents/Affected Entities: (1) Users of Form 8-R, specifically 
swap dealers and major swap participants; and (2) users of Form 8-R, 
specifically principals of swap dealers and of major swap participants.
    Estimated number of respondents: 772.
    Estimated total annual burden on respondents: 683 hours.
    Frequency of collection: Periodically.
    There are no capital costs or operating and maintenance costs 
associated with this collection.

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

    Dated: September 21, 2020.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2020-21097 Filed 9-23-20; 8:45 am]
BILLING CODE 6351-01-P