Rules Relating to Review of National Futures Association Decisions in Disciplinary, Membership Denial, Registration & Member Responsibility Actions

Forms and Documents

Document Name	Status
(2024) 30-day FRN 3038-0043.pdf Supplementary Document	2024-12-26
(2024) 3038-0043 60 day FR Notice.pdf Supplementary Document	2024-12-26
(2024) Supporting Statement 3038-0043 - 12.26.24.docx Supporting Statement A	2024-12-26

IC Document Collections

IC ID	Document Title	Status
29084	Rules Relating to Review of National Futures Association Decisions in Disciplinary, Membership Denial, Registration & Member Responsibility Actions	Modified

ICR Details

OMB Control No: 3038-0043	ICR Reference No: 202412-3038-004
Status: Received in OIRA	Previous ICR Reference No: 202112-3038-001
Agency/Subagency: CFTC	Agency Tracking No:
Title: Rules Relating to Review of National Futures Association Decisions in Disciplinary, Membership Denial, Registration & Member Responsibility Actions
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 12/26/2024

	Requested	Previously Approved
Expiration Date	36 Months From Approved	02/28/2025
Responses	3	3
Time Burden (Hours)	3	3
Cost Burden (Dollars)	0	0

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Abstract: Part 171 Rules establish procedures and standards for Commission review of registered futures association procedures for membership and disciplinary actions. The reporting requirements are required by Section 17 of the Commodity Exchange Act or necessary to the type of appellate review role Congress intended the Commission to take.

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Authorizing Statute(s): US Code: 7 USC 21(h) (2) Name of Law: Commission Review of Disciplinary Actions Taken by Registered Futures Associations
  

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:
	89 FR 80896	10/04/2024
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 105011	12/26/2024
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
Rules Relating to Review of National Futures Association Decisions in Disciplinary, Membership Denial, Registration & Member Responsibility Actions

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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	3	3	0	0	0	0
Annual Time Burden (Hours)	3	3	0	0	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: No

Burden Reduction Due to:

Short Statement:

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Annual Cost to Federal Government: $5,623

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]? No

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: 12/26/2024

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