Pursuant to 5
CFR 1320.11(c), OMB files this comment on this information
collection request (ICR. The agency shall examine public comment in
response to the NPRM and will describe in the supporting statement
of its next collection any public comments received regarding the
collection as well as why (or why it did not) incorporate the
commenter’s recommendation. The next submission to OMB must include
the draft final rule.
Inventory as of this Action
Requested
Previously Approved
05/31/2016
36 Months From Approved
05/13/2016
3,000
0
3,000
6,000
0
6,000
546,000
0
546,000
The Commission proposes to amend §
32.3(b) by adding a requirement that Non-SD/MSP trade option
counterparties must provide notice by email to DMO within 30 days
after entering into trade options, whether reported or unreported,
that have an aggregate notional value in excess of $1 billion in
any calendar year (the "1 Billion Notice"). In the alternative, a
Non-SD/MSP may provide notice by email to DMO that it reasonably
expects to enter into trade options, whether reported or
unreported, having an aggregate notional value in excess of $1
billion during any calendar year (the "Alternative Notice"). The
proposed $1 Billion Notice would provide the Commission insight
into the size of the market for unreported trade options and the
identities of the most significant market players. Additionally,
the $1 Billion Notice would help guide the Commission's efforts to
collect additional information through its authority to obtain
copies of books or records required to be kept pursuant to the CEA
and the Commission's regulations should market circumstances
dictate, and will help enable the Commission to determine whether
these counterparties should be subject to more frequent and
comprehensive reporting obligations in the future.
US Code:
7
USC 6c(b) Name of Law: Commodity Exchange Act
PL: Pub.L. 111 - 203 124 Stat. 1376 (2010)
Name of Law: Dodd-Frank Act
US Code: 7 USC 6c(b) Name of Law: Commodity Exchange Act
The Commission is proposing to
add the Notice Requirement for trade option counterparties that are
Non-SD/MSPs, which requirement is considered to be a collection of
information within the meaning of the PRA. The proposed rules will
not result in the creation of any new information collection
subject to OMB review or approval under the PRA, except for the
annual Notice Requirement.
$182
No
No
No
Yes
No
Uncollected
Herminio Castro 202 418-6705
hcastro@cftc.gov
No
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:
(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;
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.
Trade Options - PRA Supporting Statement Proposal.docx
Trade Options; $1 Billion Notice and Alternative $1 Billion Notice