Annual Report for Chief Compliance Officer of Registrants

ICR 202207-3038-004

OMB: 3038-0080

Federal Form Document

Forms and Documents
Document
Name
Status
Form and Instruction
Modified
Supplementary Document
2022-07-01
Supplementary Document
2022-07-01
Supporting Statement A
2022-07-01
IC Document Collections
ICR Details
3038-0080 202207-3038-004
Received in OIRA 201906-3038-003
CFTC
Annual Report for Chief Compliance Officer of Registrants
Revision of a currently approved collection   No
Regular 07/01/2022
  Requested Previously Approved
36 Months From Approved 08/31/2022
830 855
166,996 172,026
0 0

On April 3, 2012, the Commission adopted Commission Regulation 3.3 (Chief Compliance Officer) under sections 4d(d) and 4s(k) of the Commodity Exchange Act (“CEA”). Commission Regulation 3.3 requires each futures commission merchant (“FCM”), swap dealer (“SD”), and major swap participant (“MSP”) to designate, by filing a form 8-R, a chief compliance officer who is responsible for developing and administering policies and procedures that fulfill certain duties of the FCM, SD, or MSP and that are reasonably designed to ensure the registrant’s compliance with the CEA and Commission regulations; establishing procedures for the remediation of noncompliance issues identified by the chief compliance officer; establishing procedures for the handling, management response, remediation, retesting, and closing of noncompliance issues; preparing, signing, certifying and filing with the Commission an annual compliance report that contains the information specified in the regulations; amending the annual report if material errors or omissions are identified; and maintaining records of the registrant’s compliance policies and procedures and records related to the annual report. The information collection obligations imposed by Commission Regulation 3.3 are essential to ensuring that FCMs, SDs, and MSPs maintain comprehensive policies and procedures that promote compliance with the CEA and Commission regulations. In particular, the Commission believes that, among other things, these obligations (i) promote compliance behavior through periodic self-evaluation, (ii) inform the Commission of possible compliance weaknesses, (iii) assist the Commission in determining whether the registrant remains in compliance with the CEA and Commission regulations, and (iv) help the Commission to assess whether the registrant has mechanisms in place to adequately address compliance problems that could lead to a failure of the registrant.

PL: Pub.L. 111 - 203 124 Stat. 1376 (2010) Name of Law: Dodd-Frank Act
   US Code: 7 USC 6d(d) and 6s(k) Name of Law: CEA
  
None

Not associated with rulemaking

  87 FR 24535 04/26/2022
87 FR 39504 07/01/2022
No

1
IC Title Form No. Form Name
Annual Report for Chief Compliance Officer of Registrants 8-R Individual Application

  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 830 855 0 -25 0 0
Annual Time Burden (Hours) 166,996 172,026 0 -5,030 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
Yes
Miscellaneous Actions
In light of the current number of Commission-registered FCMs, SDs, and MSPs, the total number of respondents (combined FCMs, SDs, and MSPs) is being reduced from 171 to 166. Accordingly, the aggregate burden hours have also decreased.

$113,715
No
    No
    Yes
No
Yes
No
No
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.
07/01/2022


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