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. Resubmit
when proposed rule is finalized.
Inventory as of this Action
Requested
Previously Approved
12/31/2021
36 Months From Approved
12/31/2021
51
0
51
2,003
0
2,003
0
0
0
Commission Regulations 39.12, 39.13,
39.14, 39.15, 39.16 and 39.18 establish risk management
requirements for registered derivatives clearing organizations
(“DCOs”). Regulation 39.3 requires any person seeking to register
as a DCO to submit a completed Form DCO as provided in the appendix
to Part 39, accompanied by all applicable exhibits. The Commission
will use the information in this collection to assess compliance of
DCOs and DCO applicants with requirements for DCOs prescribed in
the Commodity Exchange Act and Commission regulations. Part 39 of
the Commission’s regulations establishes regulatory requirements
for derivatives clearing organizations (“DCOs”). The Commission is
proposing regulations that would permit non-U.S. clearing
organizations that do not pose substantial risk to the U.S.
financial system to register with the Commission, yet comply with
the core principles applicable to registered DCOs through
compliance with their home country regulatory regime, subject to
certain conditions and limitations. The information that would be
collected under these proposed regulations is necessary for the
Commission to determine whether a clearing organization qualifies
for DCO registration pursuant to the alternative compliance
procedures, to evaluate its continued eligibility for such status,
to review compliance by the DCO subject to alternative compliance
with any conditions the Commission has established, or to conduct
oversight of U.S. persons and the swaps that are cleared by or for
U.S. persons through the DCO subject to alternative compliance. The
Commission is also proposing to reduce the number of registered
DCOs subject to Part 39 reporting and recordkeeping requirements
due to the proposed alternative compliance option.
The proposal by the Commission
would amend part 39 of its regulations to establish a regulatory
framework within which the Commission may register under certain
conditions a non-U.S. clearing organization in connection with the
clearing of swaps. The proposal sets forth new reporting
requirements pursuant to the application process for DCO
registration with alternative compliance, and ongoing compliance
with the conditions of such registration. Because several
registered DCOs may convert to the proposed alternative compliance
status, the Commission is reducing the number of registered DCOs in
the current information collection.
$86,320
No
Yes
Yes
No
Yes
No
Uncollected
Thuy Dinh 202 418-5128
tdinh@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.