Exemption from Derivatives Clearing Organization Registration

ICR 201907-3038-006

OMB: 3038-0117

Federal Form Document

Forms and Documents
IC Document Collections
IC ID
Document
Title
Status
237041
New
ICR Details
3038-0117 201907-3038-006
Historical Inactive
CFTC
Exemption from Derivatives Clearing Organization Registration
New collection (Request for a new OMB Control Number)   No
Regular
Comment filed on proposed rule 09/18/2019
Retrieve Notice of Action (NOA) 07/23/2019
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
36 Months From Approved
0 0 0
0 0 0
0 0 0

Part 39 of the Commission’s regulations establishes regulatory requirements for derivatives clearing organizations (“DCOs”). The Commission is proposing regulations that would codify the policies and procedures that the Commission is currently following with respect to granting exemptions from registration as a DCO, which were proposed in 2018 but not yet adopted. The Commission is issuing a supplemental proposal to permit DCOs that are exempt from registration to clear swaps for U.S. customers. Specifically, the proposal would amend Part 39 to specify the conditions and procedures under which a clearing organization may apply for exemption from registration as a DCO, the information that must be provided to the Commission to obtain and maintain such exemption, procedures for termination of an exemption, and requirements for customer clearing.

US Code: 7 USC 7a-1 Name of Law: Commodity Exchange Act (Derivatives Clearing Organizations)
  
None

3038-AE65 Proposed rulemaking 84 FR 35456 07/23/2019

No

1
IC Title Form No. Form Name
Requirements for Derivatives Clearing Organizations

Yes
Changing Regulations
No
The proposal would amend part 39 of the Commission’s regulations to establish a regulatory framework within which the Commission may exempt a non-U.S. clearing organization in connection with the clearing of swaps, and to permit clearing by exempt DCOs on behalf of U.S. customers under certain circumstances. The proposal sets forth new reporting requirements pursuant to the application process for DCO exemption, and ongoing compliance with the conditions of such registration.

$43,160
No
    Yes
    No
No
Yes
No
Uncollected
Gail Scott 202 418-5139 gscott@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.
07/23/2019


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