Regulation of Domestic Exchange-Traded Options

Forms and Documents

Document Name	Status
(2021) 30-day FR Notice - 3038-0007.pdf Supplementary Document	2021-10-29
(2021)- 3038-0007-60-Day FR Notice.pdf Supplementary Document	2021-10-29
(2021) 3038-0007 Supporting Statement - 10-21-21 final.docx Supporting Statement A	2021-10-29

IC Document Collections

IC ID	Document Title	Status
29011	Regulation of Domestic Exchange-Traded Options	Modified

ICR Details

OMB Control No: 3038-0007	ICR Reference No: 202110-3038-002
Status: Received in OIRA	Previous ICR Reference No: 201807-3038-004
Agency/Subagency: CFTC	Agency Tracking No:
Title: Regulation of Domestic Exchange-Traded Options
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 10/29/2021

	Requested	Previously Approved
Expiration Date	36 Months From Approved	12/31/2021
Responses	128,992	147,552
Time Burden (Hours)	38,030	43,502
Cost Burden (Dollars)	0	0

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Abstract: The rules require futures commission merchants and introducing brokers to provide their customers with a standard disclosure statement describing some of the risks of trading commodity options and to retain all promotional material. The disclosure and recordkeeping requirements are necessary to monitor and to verify compliance by FCMs and IBs with their obligations concerning disclosure and promotional material.

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Authorizing Statute(s): US Code: 7 USC 2 Name of Law: CEA
   US Code: 7 USC 1a Name of Law: CEA
   US Code: 7 USC 4 Name of Law: CEA
   US Code: 7 USC 6, 6a, 6b, 6c, 6d, 6e, 6f, 6g Name of Law: CEA
   US Code: 7 USC 6h, 6i, 6j, 6k, 6l, 6m, 6n, 6o Name of Law: CEA
   US Code: 7 USC 7, 7a, 7b Name of Law: CEA
   US Code: 7 USC 8 Name of Law: CEA
   US Code: 7 USC 9 Name of Law: CEA
   US Code: 7 USC 11 Name of Law: CEA
   US Code: 7 USC 12a, 12c Name of Law: CEA
   US Code: 7 USC 13a, 13a-1, 13b Name of Law: CEA
   US Code: 7 USC 19 Name of Law: CEA
   US Code: 7 USC 21 Name of Law: CEA
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 46227	08/18/2021
30-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 59699	10/28/2021
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Regulation of Domestic Exchange-Traded Options

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ICR Summary of Burden

	Total Request	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	128,992	147,552	0	-18,560	0	0
Annual Time Burden (Hours)	38,030	43,502	0	-5,472	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to: Miscellaneous Actions

Short Statement: As a result of industry consolidation and other factors, the current number of CFTC registrants who are FCMs or IBs (and, thus, the estimated number of respondents) has decreased from 1,272 to 1,112. The estimated burden hours per registrant has not changed.

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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: 10/29/2021

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