Vol. 77 Thursday, 

No. 144 July 26, 2012 

Part IV 

Commodity Futures Trading Commission 

17 CFR Part 15, 16, 17, et al. 

Account Ownership and Control Report; Withdrawal; Ownership and Control 

Reports, Forms 102/102S, 40/40S, and 71; Proposed Rules 


srobinson on DSK4SPTVN1PROD with PROPOSALS3
43968 Federal Register / Vol. 77, No. 144 / Thursday, July 26, 2012 / Proposed Rules 

1 75 FR 41775 (July 19, 2010). 

2On July 2, 2009, prior to the publication of the 

OCR NPRM, the Commission published an 

Advanced Notice of Proposed Rulemaking 

(‘‘Advanced Notice’’). In the Advanced Notice the 

Commission proposed to collect certain ownership, 

control, and related information for all trading 

accounts active on U.S. futures exchanges. See 74 

FR 31642 (July 2, 2009). 

3The comment period deadline was extended 

from September 17, 2010 to October 7, 2010 in 

order to give interested parties time to prepare 

comments on matters discussed at the roundtable 

meeting. See 75 FR 54801 (September 9, 2010). 

4 75 FR 54802 (September 9, 2010). 

5On December 23, 2010 and March 22, 2011, the 

Commission received supplemental comment 

letters from the Futures Industry Association 

(‘‘FIA’’). All OCR NPRM comment letters, 

supplemental comment letters, ex parte 

communications summaries, and a transcript of the 

public roundtable are available at: http:// 

comments.cftc.gov/PublicComments/ 

CommentList.aspx?id=755. 

6CME Group Inc. comment letter on behalf of the 

Chicago Mercantile Exchange, Inc., the Board of 

Trade of the City of Chicago, Inc., the New York 

Mercantile Exchange, Inc., and the Commodity 

Exchange, Inc. (collectively ‘‘CME’’) dated October 

7, 2010 at 3. 

7FIA Comment Letter dated October 7, 2010 at 

15. 

8See CME Comment Letter dated October 7, 2010 

at 4 and FIA Comment Letter dated October 7, 2010 

at 7. See generally FIA Supplemental Comment 

Letter dated December 23, 2010 and FIA 

Supplemental Comment Letter dated March 22, 

2011. 

COMMODITY FUTURES TRADING 

COMMISSION 

17 CFR Part 16 

RIN 3038–AC63 

Account Ownership and Control 

Report; Withdrawal 

AGENCY: Commodity Futures Trading 

Commission (‘‘Commission’’). 

ACTION: Proposed rule; withdrawal. 

SUMMARY: On July 19, 2010, the 

Commission published for public 

comment a Notice of Proposed 

Rulemaking that proposed to collect 

certain account ownership and control 

information for all trading accounts 

active on U.S. futures exchanges and 

other reporting entities (‘‘OCR NPRM’’). 

After considering all comments received 

in response to the OCR NPRM, the 

Commission is withdrawing the OCR 

NPRM and instead pursuing the 

collection of account ownership and 

control information through a separate 

proposed rulemaking published today 

elsewhere in the notice section of the 

Federal Register. 

DATES: Effective July 26, 2012, the 

proposed rule published July 19, 2010, 

at 75 FR 41775, is withdrawn. 

FOR FURTHER INFORMATION CONTACT: 

Sebastian Pujol Schott, Associate 

Director, at 202–418–5641 or 

sps@cftc.gov; or Cody J. Alvarez, 

Attorney Advisor, at 202–418–5404 or 

calvarez@cftc.gov; Division of Market 

Oversight, Commodity Futures Trading 

Commission, Three Lafayette Centre, 

1155 21st Street NW., Washington, DC 

20581. 

SUPPLEMENTARY INFORMATION: On July 

19, 2010, the Commission published the 

OCR NPRM,1 which provided for the 

collection of trading account 

information via an account ownership 

and control report (‘‘OCR’’).2 In 

addition, the OCR NPRM sought public 

comment and provided for a public 

roundtable meeting during the 60-day 

comment period.3 The staff-led public 

roundtable was held September 16, 

2010.4

The Commission received eight 

comment letters from fourteen 

interested parties in response to the 

OCR NPRM and the public roundtable.5

A number of commenters raised 

concerns regarding the costs they were 

likely to incur as a result of the OCR. 

For example, designated contract market 

group stated in its comment letter that 

‘‘the Commission’s proposed OCR will 

result in very substantial capital and 

human resource costs being incurred by 

all [r]eporting [e]ntities on a one-time 

and on-going basis.’’ 6 Many 

commenters argued that certain OCR 

data points would be difficult to collect. 

For example, an industry association 

representing numerous large futures 

commission merchants (‘‘FCMs’’) stated 

that FCMs would have difficulty 

providing date of birth information 

because ‘‘[a]n FCM generally does not 

record the date of birth of a customer or 

account controller.’’ 7 Many comment 

letters also included alternative 

recommendations for proceeding with 

the development of the OCR.8

In light of the comments received and 

the Commission’s intention to collect 

trading account ownership and control 

information through a separate 

proposed rulemaking, the Commission 

has determined to withdraw the OCR 

NPRM. Concurrent with this 

withdrawal, the Commission is 

publishing elsewhere in this issue of the 

Federal Register a separate proposed 

rule that incorporates many of the OCR 

NPRM comments. 

Issued in Washington, DC, on June 27, 

2012 by the Commission. 

David A. Stawick, 

Secretary of the Commission. 

[FR Doc. 2012–16178 Filed 7–25–12; 8:45 am] 

BILLING CODE P 

COMMODITY FUTURES TRADING 

COMMISSION 

17 CFR Parts 15, 17, 18, and 20 

RIN 3038–AD31 

Ownership and Control Reports, 

Forms 102/102S, 40/40S, and 71 

AGENCY: Commodity Futures Trading 

Commission. 

ACTION: Notice of proposed rulemaking 

(‘‘Notice’’). 

SUMMARY: The Commodity Futures 

Trading Commission (‘‘Commission’’ or 

‘‘CFTC’’) is proposing new rules and 

related forms to enhance its 

identification of futures and swap 

market participants. The proposed rules 

would leverage the Commission’s 

existing position and transaction 

reporting programs by requiring the 

electronic submission of trader 

identification and market participant 

data on amended Forms 102 and 40, and 

on new Form 71. The proposed rules 

also incorporate a revised approach to 

the Commission’s previous initiative to 

collect ownership and control 

information, through a dedicated 

ownership and control report (‘‘OCR’’), 

for trading accounts active on reporting 

markets that are designated contract 

markets or swap execution facilities. 

The Commission welcomes public 

comment on all aspects of its proposal. 

DATES: Comments must be received on 

or before September 24, 2012. 

ADDRESSES: You may submit comments, 

identified by RIN number 3038–AD31, 

by any of the following methods: 

• Agency Web site, via its Comments 

Online process: http:// 

comments.cftc.gov. Follow the 

instructions for submitting comments 

through the Web site. 

• Mail: David A. Stawick, Secretary of 

the Commission, Commodity Futures 

Trading Commission, Three Lafayette 

Centre, 1155 21st Street NW., 

Washington, DC 20581. 

• Courier: Same as mail above. 

• Federal eRulemaking Portal: http:// 

www.regulations.gov. Follow the 

instructions for submitting comments. 

Please submit your comments using 

only one method. 

All comments must be submitted in 

English, or if not, accompanied by an 

English translation. Comments will be 

posted as received to http:// 

www.cftc.gov. You should submit only 

information that you wish to make 

available publicly. If you wish the CFTC 

to consider information that you believe 

is exempt from disclosure under the 

Freedom of Information Act, a petition 


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