Regulations and Forms Pertaining to Financial Integrity of the Market Place; Margin Requirements for SDs/MSPs

Forms and Documents

Document Name	Status
Form 1-FR-FCM Regulations and Forms Pertaining to Financial Integrity of the Market Place Form	Unchanged
(2020) Supporting Statement 3038-0024 Capital final rule 07.24.20.docx Supporting Statement A	2020-08-04

IC Document Collections

IC ID	Document Title	Status
29065	Regulations and Forms Pertaining to Financial Integrity of the Market Place Form	Unchanged
243016	Capital Requirements of Swap Dealers and Major Swap Participants	New
213122	Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants Other-Supporting Statement	Unchanged

ICR Details

OMB Control No: 3038-0024	ICR Reference No: 202008-3038-002
Status: Active	Previous ICR Reference No: 201903-3038-002
Agency/Subagency: CFTC	Agency Tracking No:
Title: Regulations and Forms Pertaining to Financial Integrity of the Market Place; Margin Requirements for SDs/MSPs
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 11/13/2020
	Date Received in OIRA: 09/17/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2022	36 Months From Approved	08/31/2022
Responses	92,468	0	91,172
Time Burden (Hours)	289,566	0	80,837
Cost Burden (Dollars)	29,390	0	0

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Abstract: This collection is needed for the Commission to continue its financial monitoring of its registrants. Registrants file financial statements with the Commission for the purpose of ensuring that filers are meeting their obligations as a Commission registrant. Additionally, the data being collected enhances the ability of the Commission to identify problematic financial matters in time to avoid market disruptions that often occur when a registrant may fail, particularly with respect to the tie-up of customer funds that may result. Finally, the rules require depository institutions that will hold customer funds for a registrant to acknowledge that the funds belong to the customers of the registrant, and not to the registrant itself. The information required is financial information used to monitor the financial health of the registrants. OMB Control No. 3038-0024 is being amended to reflect the reporting and recordkeeping requirements associated with the capital and margin rules for swap dealers (SDs) and major swap participants (MSPs), as well as with conforming rules for FCMs that will operate as SDs. The information will be used to make capital comparability determinations for the Commission to consider whether the requirements of the foreign rules are comparable to the applicable requirements of the Commission’s rules with respect to capital adequacy and financial reporting requirements for SDs or MSPs. Also, information surrounding various firm risk calculations and components will be submitted by SDs and MSPs that wish to use models to compute certain market and credit risk charges when establishing minimum net capital in lieu of standard table-based capital calculations. The collection of such information will be used to evaluate whether the SDs and MSPs capital models satisfy regulatory standards and requirements.

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Authorizing Statute(s): US Code: 7 USC 6s, 12a Name of Law: CEA
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 124 Stat. 1376 (2010) Name of Law: Dodd Frank Act
PL: Pub.L. 110 - 246 122 Stat. 1651 (2008) Name of Law: Food, Conservation, and Energy Act of 2008

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3038-AD54	Final or interim final rulemaking	85 FR 57462	09/15/2020

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 3

IC Title	Form No.	Form Name
Regulations and Forms Pertaining to Financial Integrity of the Market Place	1-FR-FCM	Statement of Financial Condition
Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
Capital Requirements of Swap Dealers and Major Swap Participants

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ICR Summary of Burden

	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	92,468	91,172	0	1,296	0	0
Annual Time Burden (Hours)	289,566	80,837	0	208,729	0	0
Annual Cost Burden (Dollars)	29,390	0	0	29,390	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The changes are due to statutory requirements.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Yes

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 09/17/2020

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