Regulations Governing Bankruptcies of Commodity Brokers

Forms and Documents

Document Name	Status
(2008J) 3038-0021-30-day FRN.pdf Supplementary Document	2008-11-19
(2008) PRA Collection 3038-0021 Renewal - 60 day notice(9-08).doc Supplementary Document	2008-10-30
3038-021-Page 2 of Certification (2005).pdf Supplementary Document	2008-10-29
(2008) PRA Collection 3038-0021 - Supporting Statement.doc Supporting Statement A	2008-10-29

IC Document Collections

IC ID	Document Title	Status
29044	Regulations Governing Bankruptcies of Commodity Brokers	Modified

ICR Details

OMB Control No: 3038-0021	ICR Reference No: 200810-3038-003
Status: Historical Active	Previous ICR Reference No: 200507-3038-001
Agency/Subagency: CFTC	Agency Tracking No:
Title: Regulations Governing Bankruptcies of Commodity Brokers
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 01/16/2009
	Date Received in OIRA: 11/20/2008
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2012	36 Months From Approved	01/31/2009
Responses	4,942	0	6,173
Time Burden (Hours)	247	0	309
Cost Burden (Dollars)	0	0	0

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Abstract: The rule requires (1) futures commission merchants (FCMs) to provide customers with a standard disclosure statement describing the treatment in bankruptcy of any non-cash property deposited as margin; and (2) FCMs to disclose to the Commission certain post-bankruptcy transfers.

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Authorizing Statute(s): US Code: 7 USC 1a, 2, 4a, 6c, d, g Name of Law: Bankruptcy Rules
   US Code: 7 USC 7, 7a, 12, 19, 23, 24 Name of Law: Bankruptcy Rules
   US Code: 11 USC 362, 546, 548, 556; 761-766 Name of Law: Bamlri[tcu Rules
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking	73 FR 52331	09/09/2008

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	73 FR 52331	09/09/2008
30-day Notice:	Federal Register Citation:	Citation Date:
	73 FR 68423	11/18/2008
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Regulations Governing Bankruptcies of Commodity Brokers

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	4,942	6,173	0	-1,231	0	0
Annual Time Burden (Hours)	247	309	0	-62	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The decrease in the burden reflects a smaller number of entities that must comply with the notification, disclosure and recordkeeping requirements of CFTC Regulations 190.06(b)and (d), 190.10(c), and 190.04 (e) (1). At the time of the last extension, there were approximately 187 FCMs registered with the Commission that were obligated to comply; currently, there are 150 situated FCMs registered with the CFTC.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 11/20/2008

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