OMB files this
comment in accordance with 5 CFR 1320.11( c ). This OMB action is
not an approval to conduct or sponsor an information collection
under the Paperwork Reduction Act of 1995. This action has no
effect on any current approvals. If OMB has assigned this ICR a new
OMB Control Number, the OMB Control Number will not appear in the
active inventory. For future submissions of this information
collection, reference the OMB Control Number provided. 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. If applicable, the
agency shall also include in the final rule submission any revised
burden estimates and describe what brought about any change in
estimate between the proposed and final rules. The next submission
to OMB must include the draft final rule.
Inventory as of this Action
Requested
Previously Approved
06/30/2019
36 Months From Approved
06/30/2019
78,307
0
78,307
7,525
0
7,525
49,500
0
49,500
A. Commodity Pool Operators and
Commodity Trading Advisors; Persons engaging in specified
activities involving some or all commodity interests are required
pursuant to the Commodity Exchange Act and or the Commission’s
regulations to register with the Commission in certain registration
categories. These include registration as a futures commission
merchant, retail foreign exchange dealer, introducing broker,
commodity pool operator (CPO), commodity trading advisor (CTA),
swap dealer, major swap participant, leverage transaction merchant,
floor broker, and floor trader. The CEA empowers the Commission
with the authority to deny, revoke, or condition registration of
CPOs and CTAs, among others, and to exclude any entity from the
definition of CPO or CTA. The registration application, Forms 7-R
and 8-R, which must be updated as necessary, requires information
about an applicant’s or registrant’s disciplinary history, so that
the person’s fitness for registration may be evaluated. In
addition, basic identifying information is required so that a
database will be available to current and prospective customers,
the public and news media. The Commission has determined to propose
via rulemaking several new exemptions and an exclusion that
generally would provide relief from CPO and/or CTA registration and
compliance. Accordingly, the Commission is also proposing to adjust
the number of registrants in this information collection, to
reflect the deregistration, as CPOs or CTAs, of persons or entities
that may qualify for the proposed exemptions and exclusion. B.
Alternative to Fingerprinting Requirement For Foreign Natural
Persons: the final rule generally codifies DSIO Staff Letters 12-49
and 13-29. The Commission believes the final rule, in providing
certainty to market participants by way of Commission regulation,
makes the commodity interest markets it oversees more liquid,
competitive, and accessible by enabling foreign natural persons to
demonstrate that they meet the minimum standards for fitness and
competency without undue burden. The alternative to fingerprinting
removes an impediment to participation in United States’ markets by
certain foreign natural persons, recognizing the limitations on
usefulness of fingerprints of foreign nationals while also ensuring
the continued protection of market participants and the public. One
of the requirements of the final rule is that those availing
themselves of it submit a certification to NFA relating to the
background check of the relevant foreign natural person and
maintain records relating thereto pursuant to Commission regulation
3.21.
The Commission is proposing to
amend this collection to reflect the deregistration of entities and
persons currently subject to registration as CPOs and/or CTAs under
the CEA and the Commission’s regulations, due to their qualifying
for and claiming of several new registration exemptions and an
exclusion for CPOs and/or CTAs that the Commission is also
proposing in the referenced NPRM.
$0
No
Yes
Yes
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.
Form 7R Commodity Pool Operators and Commodity Trading Advisors: Amendments to Compliance Obligations
3038-0023 Supporting Statement.part 4 NPRM 10-9-18.docx
Alternative to Fingerprinting Requirement For Foreign Natural Persons