Core Principles & Other Requirements for DCMs

ICR 201804-3038-006

OMB: 3038-0052

Federal Form Document

Forms and Documents
Document
Name
Status
Supplementary Document
2018-04-11
Supporting Statement A
2016-09-15
ICR Details
3038-0052 201804-3038-006
Historical Active 201608-3038-006
CFTC
Core Principles & Other Requirements for DCMs
Revision of a currently approved collection   No
Regular
Approved without change 05/29/2018
Retrieve Notice of Action (NOA) 04/11/2018
  Inventory as of this Action Requested Previously Approved
05/31/2021 36 Months From Approved 12/31/2019
105 0 120
7,358 0 8,678
0 0 0

In January 2018, the Commission adopted regulation 9.11(b)(3)(ii) requiring a designated contract market (DCM) or swap execution facility (SEF) (collectively, “exchange”) to include two additional elements in the disciplinary or access denial notice action provided to the National Futures Association. First, an exchange must include the type of product (as applicable) involved in the adverse action. Requiring an exchange to provide this information in the disciplinary or access denial notice will provide the Commission, market participants, the public, and other exchanges with greater transparency concerning where market abuses originate and whether the abuses are concentrated among certain product types. Second, an exchange must indicate in its notice of disciplinary or access denial actions whether the violation underlying the notice resulted in financial harm to any customers. The Commission believes that the inclusion of customer harm is essential because it cannot effectively perform its regulatory and oversight functions without knowledge of those instances in which brokers violate their fiduciary duty to customers by taking advantage of customer orders and engaging in fraudulent activity. The Commission concluded that the additional burden for an exchange to add the two additional elements in the contents of the disciplinary or access denial notice is de minimis and will not change the burden hours for the collection.

US Code: 7 USC 6, 6a, 6c, 6d, 6f, 6g, 6i, 6j Name of Law: CEA
   US Code: 7 USC 6k, 6l, 6m, 6n Name of Law: CEA
   US Code: 7 USC 7, 7a-s, 7b, 7b-1, 7b-3 Name of Law: CEA
   US Code: 7 USC 8, 9, 15, 21 Name of Law: CEA
   US Code: 7 USC 1a, 2, Name of Law: CEA
  
None

Not associated with rulemaking

  83 FR 1609 01/12/2018
83 FR 15557 04/11/2018
No

  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 105 120 0 -15 0 0
Annual Time Burden (Hours) 7,358 8,678 0 -1,320 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
Yes
Changing Regulations
The Commission is amending control number 3038-0052 to account for a change in the number of DCMs currently registered with the Commission from 18 to 15.

$0
No
    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.
04/11/2018


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