[Federal Register Volume 72, Number 161 (Tuesday, August 21, 2007)]
[Notices]
[Pages 46613-46614]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 07-4092]


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COMMODITY FUTURES TRADING COMMISSION


Agency Information Collection Activities: Proposed Collection; 
Comment Request: Part 41, Relating to Security Futures Products

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.

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SUMMARY: In compliance with the Paperwork Reduction Act (44 U.S.C. 3501 
et seq.), this notice announces that the CFTC is planning to submit the 
following proposed Information Collection Request (ICR) to the Office 
of Management and Budget (OMB): Part 41, Relating to Security Futures 
Products; OMB Control Number 3038-0059. Before submitting the ICR to 
OMB for review and approval, the CFTC is soliciting comments on 
specific aspects of the proposed information collection as described 
below.

DATES: Comments must be submitted on or before October 22, 2007.

ADDRESSES: Comments may be mailed to David Van Wagner, Chief Counsel, 
Division of Market Oversight, U.S. Commodity Futures Trading 
Commission, 1155 21st Street, NW., Washington, DC 20581.

FOR FURTHER INFORMATION CONTACT: David Van Wagner (202) 418-5481; Fax: 
(202) 418-5277; e-mail: <a href="/cdn-cgi/l/email-protection#5f3b293e31283e38313a2d1f3c392b3c71383029"><span class="__cf_email__" data-cfemail="4b2f3d2a253c2a2c252e390b282d3f28652c243d">[email protected]</span></a>.

SUPPLEMENTARY INFORMATION:
    Affected Entities: Entities potentially affected by this action are 
businesses and other for-profit institutions.
    Title: Part 41, Relating to Security Futures Products.

[[Page 46614]]

    Abstract: Section 4d(c) of the Commodity Exchange Act (CEA), 7 
U.S.C. 6d(c), requires the CFTC to consult with the SEC and issue such 
rules, regulations, or orders as are necessary to avoid duplicative or 
conflicting regulations applicable to firms that are fully registered 
with the SEC as brokers or dealers (broker-dealers) and the CFTC as 
futures commission merchants (FCMs) involving provisions of the CEA 
that pertain to the treatment of customer funds. The CFTC, jointly with 
the SEC, issued regulations requiring such dually-registered firms to 
make choices as to how its customers' transactions in security futures 
products (SFP) will be treated, either as securities transactions held 
in a securities account or as futures transactions held in a futures 
account. How an account is treated is important in the unlikely event 
of the insolvency of the firm. Securities accounts receive insurance 
protection under provisions of the Securities Investor Protection Act. 
By contrast, futures accounts are subject to the protections provided 
by the segregations requirements of the CEA.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless it displays a 
currently valid OMB control number. The OMB control numbers for the 
CFTC's regulations were published on December 30, 1981. See 46 FR 63035 
(Dec. 30, 1981). The OMB control number for the CFTC's rules relating 
to security futures products was published on August 23, 2001. See 66 
FR 44490 (Aug. 23, 2001).
    The Commission would like to solicit comments to:
    <bullet> Evaluate whether the proposed collection of information is 
necessary for the proper performance of the functions of the 
Commission, including whether the information will have a practical 
use;
    <bullet> Evaluate the accuracy of the Commission's estimate of the 
burden of the proposed collection of information, including the 
validity of the methodology and assumptions used;
    <bullet> Enhance the quality, usefulness, and clarity of the 
information to be collected; and
    <bullet> Minimize the burden of collection of information on those 
who are to respond, including through the use of appropriate automated 
electronic, mechanical, or other technological collection techniques or 
other forms of information technology; e.g., permitting electronic 
submission of responses.
    Burden Statement: The respondent burden for this collection is 
estimated to average .59 hours per response. These estimates include 
the time needed to review instructions; develop, acquire, install, and 
utilize technology and systems for the purposes of collecting, 
validating, and verifying information, processing and maintaining 
information and disclosing and providing information; adjust the 
existing ways to comply with any previously applicable instructions and 
requirements; train personnel to be able to respond to a collection of 
information; and transmit or otherwise disclose the information.
    Respondents/Affected Entities: 144.
    Estimated number of responses: 2,739.
    Estimated total annual burden on respondents: 1,620.48 hours.
    Frequency of collection: On occasion.
    Burden means the total time, effort, or financial resources 
expended by persons to generate, maintain, retain, disclose or provide 
information to or for a federal agency. This includes the time needed 
to review instructions; develop, acquire, install, and utilize 
technology and systems for the purposes of colleting, validating, and 
verifying information, processing and maintaining information and 
disclosing and providing information; adjust the existing ways to 
comply with any previously applicable instructions and requirements; 
train personnel to be able to respond to a collection of information; 
and transmit or otherwise disclose the information.

    Dated: August 15, 2007.
David A. Stawick,
Secretary of the Commission.
[FR Doc. 07-4092 Filed 8-20-07; 8:45 am]
BILLING CODE 6351-01-M


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