OMB files this
comment in accordance with 5 CFR 1320.11(c). This OMB action is not
an approval to conduct or sponsor an information collection under
the Paperwork Reduction Act of 1995. This action has no effect on
any current approvals. If OMB has assigned this ICR a new OMB
Control Number, the OMB Control Number will not appear in the
active inventory. For future submissions of this information
collection, reference the OMB Control Number provided. Resubmit
when proposed rule is finalized.
Inventory as of this Action
Requested
Previously Approved
11/30/2021
36 Months From Approved
11/30/2021
4,800,003,136
0
4,800,003,136
184,690
0
184,690
61,904,104
0
61,904,104
CEA § 21(c)(7) directs SDRs to make
swap data available “on a confidential basis pursuant to [CEA §] 8”
to certain enumerated domestic authorities and any other person the
CFTC determines to be appropriate, which may include certain types
of foreign authorities. CEA § 21(d) mandates that, prior to
receiving any requested data or information from a swap data
repository (“SDR”), an authority seeking SDR swap data access agree
in writing to abide by the confidentiality requirements described
in CEA § 8. CEA § 8 describes circumstances under which public
disclosure of information in the Commission’s possession is
permitted and prohibited. The collection is designed to elicit
information from authorities seeking SDR swap data access
(including information regarding the scope of their jurisdiction
and the measures they will have in place to safeguard the
confidentiality of SDR swap data) to enable the CFTC to determine
whether applicants are appropriate recipients of such data. The
collection is designed to alert the Commission to circumstances in
which SDR swap data recipients seek to, have or may receive SDR
swap data outside the scope of their jurisdiction. Authorities
would use SDR swap data for purposes within the scope of their
jurisdiction. The Commission uses the information provided by this
collection to assess the governance arrangements, operations, and
complicance functions of swap data repositories, and to ensure that
swap data repositories are complying with the requirements of
section 21 of the Commodity Exchange Age. The Commission also uses
the data collected for regulatory purposes. Data may also be made
available to other regulators. Certain data is also available to
the public for the purpose of increasing transparency in the swaps
markets. .
US Code:
7
USC 12a(5) Name of Law: Registration of Commodity Dealers and
Associated Persons
US Code: 7 USC
24a Name of Law: Swap Data Repositories
The Commission is proposing
amendments to part 49 of the Commission regulations in order to
improve the quality of swaps transaction data available to the
Commission and to the public as well as to streamline regulatory
requirements governing SDRs. This supporting statement discusses
adjustments to burden hours calculations for Information Collection
3038-0086 to account for modified and new burdens associated with
the proposed changes to the regulation. The Commission is also
updating the overall burden hours, collection volumes, and costs
related to Information Collection 3038-0086, based on updated
information related to other collections within Information
Collection 3038-0086 that are not being modified by this
proposal.
$5,428,930
No
Yes
No
No
Yes
No
Uncollected
Gail Scott 202 418-5139
gscott@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.