Registration of Swap Dealers and Major Swap Participants

Forms and Documents

Document Name	Status
Form 8-R Registration of Swap Dealers and Major Swap Participants Form and Instruction	Unchanged
(2016) Supporting Statement - 0072.doc Supporting Statement A	2016-03-31

IC Document Collections

IC ID	Document Title	Status
219445	Alternative to Figerprinting Requirement For Foreign Natural Persons	Modified
195292	Registration of Swap Dealers and Major Swap Participants Form and Instruction	Unchanged

ICR Details

OMB Control No: 3038-0072	ICR Reference No: 201603-3038-006
Status: Historical Active	Previous ICR Reference No: 201512-3038-015
Agency/Subagency: CFTC	Agency Tracking No:
Title: Registration of Swap Dealers and Major Swap Participants
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: 06/03/2016
	Date Received in OIRA: 04/01/2016
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2019	36 Months From Approved	07/31/2018
Responses	772	0	770
Time Burden (Hours)	634	0	629
Cost Burden (Dollars)	16,225	0	15,725

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Abstract: The fingerprinting proposal generally codifies DSIO Staff Letters 12-49 and 13-29. The Commission believes the final rule, in providing certainty to market participants by way of Commission regulation, makes the commodity interest markets it oversees more liquid, competitive, and accessible by enabling foreign natural persons to demonstrate that they meet the minimum standards for fitness and competency without undue burden. The alternative to fingerprinting removes an impediment to participation in United States’ markets by certain foreign natural persons, recognizing the limitations on usefulness of fingerprints of foreign nationals while also ensuring the continued protection of market participants and the public. One of the requirements of the final rule is that those availing themselves of it submit a certification to NFA relating to the background check of the relevant foreign natural person and maintain records relating thereto pursuant to Commission regulation 3.21.

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Authorizing Statute(s): US Code: 7 USC 6s Name of Law: CEA
   PL: Pub.L. 111 - 203 124 Stat. 1376 (2010) Name of Law: Dodd-Frank Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3038-AE16	Final or interim final rulemaking	81 FR 18743	04/01/2016

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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: 2

IC Title	Form No.	Form Name
Registration of Swap Dealers and Major Swap Participants	8-T, 3-R, 8-R, 7 - R, 7W	Individual Application ,   Individual Withdrawal ,   Changes and Corrections in Registration Information ,   Firm Application ,   Firm Withdrawal
Alternative to Figerprinting Requirement For Foreign Natural Persons

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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	772	770	0	2	0	0
Annual Time Burden (Hours)	634	629	0	5	0	0
Annual Cost Burden (Dollars)	16,225	15,725	0	500	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 amendment to Regulation 3.21 allows certain Commission registrants to elect to submit a certification in lieu of submitting a fingerprint card for certain foreign natural persons. The Commission estimates that the final rule will result in an aggregate burden hours increase of 5.0 hours (2 respondents X 2.5 hours/respondent).

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Annual Cost to Federal Government: $0

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

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? 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? Uncollected

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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: 04/01/2016

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