Requirements for Derivatives
Clearing Organizations
Revision of a currently approved collection
No
Regular
07/28/2023
Requested
Previously Approved
36 Months From Approved
05/31/2026
22,512
22,578
66,791
63,311
0
0
Commission Regulations 39.10, 39.11,
39.12, 39.13, 39.14, 39.15, 39.16, 39.18, 39.19, 39.21, 39.24, and
39.27 establish reporting 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 Appendix A to part 39, accompanied by all applicable
exhibits. Subpart C of part 39 includes additional requirements for
systemically important DCOs and DCOs that elect to be subject to
Subpart C. The rules establish reporting and recordkeeping
requirements that implement Section 5b of the Commodity Exchange
Act (CEA), and are necessary for the Commission to assess
compliance of DCOs and DCO applicants with requirements prescribed
in the CEA and Commission regulations.
The Commission is proposing
amendments that would address certain risk management obligations,
modify definitions and reporting requirements, and codify existing
staff guidance. The proposed amendments would add paragraph (k) to
regulation 39.13 to require DCOs that are neither systemically
important nor registered under Subpart C to maintain and submit to
the Commission viable plans for orderly wind-down and would enhance
current regulation 39.39 with respect to recovery and orderly
wind-down plan requirements. The proposed amendments would also add
new paragraph (xxv) to regulation 39.19(c)(4) regarding certain
event-specific reporting and new paragraph (iii) to regulation
39.19(c)(5) regarding certain information for resolution planning.
The Commission anticipates that changes to the event-specific
reporting requirements under 39.19(c)(4), if adopted, would
increase the existing burden on DCOs. The Commission estimates that
the proposed changes would increase the annual information
collection burden under the rule from 63,311 hours to 66,791
hours.
$134,478
No
Yes
No
No
Yes
No
No
Kenny Wright 202 326-2907
kwright@ftc.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.