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[Federal Register Volume 90, Number 24 (Thursday, February 6, 2025)]
[Notices]
[Pages 9075-9077]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-02307]

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COMMODITY FUTURES TRADING COMMISSION

Agency Information Collection Activities: Notice of Intent To 
Renew Collection 3038-0084: Regulations Establishing and Governing the 
Duties of Swap Dealers and Major Swap Participants

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.

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SUMMARY: The Commodity Futures Trading Commission (``Commission'' or

[[Page 9076]]

``CFTC'') is announcing an opportunity for public comments on the 
proposed renewal of a collection of certain information by the agency. 
Under the Paperwork Reduction Act (``PRA''), Federal agencies are 
required to publish notice in the Federal Register concerning each 
proposed collection of information, including each proposed renewal of 
an existing collection of information, and to allow 60 days for public 
comment in response to the notice. This notice solicits comments on the 
collection of information mandated by Commission regulations 23.600 
(Risk Management Program for Swap Dealers and Major Swap Participants), 
23.601 (Monitoring of Position Limits), 23.602 (Diligent Supervision), 
23.603 (Business Continuity and Disaster Recovery), 23.606 (General 
Information: Availability for Disclosure and Inspection), and 23.607 
(Antitrust Considerations).

DATES: Comments must be submitted on or before April 7, 2025.

ADDRESSES: You may submit comments, identified by ``OMB Control No. 
3038-0084'' by any of the following methods:
     The CFTC Website, at https://comments.cftc.gov/. Follow 
the instructions for submitting comments through the website.
     Mail: Christopher Kirkpatrick, Secretary of the 
Commission, Commodity Futures Trading Commission, Three Lafayette 
Centre, 1155 21st Street NW, Washington, DC 20581.
     Delivery/Courier: Same as Mail above.
    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 https://www.cftc.gov.

FOR FURTHER INFORMATION CONTACT: Catherine Brescia, Attorney Advisor, 
Market Participants Division, Commodity Futures Trading Commission, 
Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581; 
(202) 418-6236; email: [email protected].

SUPPLEMENTARY INFORMATION: Under the PRA, 44 U.S.C. 3501 et seq., 
Federal agencies must obtain approval from the Office of Management and 
Budget (OMB) for each collection of information they conduct or 
sponsor. ``Collection of Information'' is defined in 44 U.S.C. 3502(3) 
and 5 CFR 1320.3 and includes agency requests or requirements that 
members of the public submit reports, keep records, or provide 
information to a third party. Section 3506(c)(2)(A) of the PRA, 44 
U.S.C. 3506(c)(2)(A), requires Federal agencies to provide a 60-day 
notice in the Federal Register concerning each proposed collection of 
information, including each proposed renewal of an existing collection 
of information, before submitting the collection to OMB for approval. 
To comply with this requirement, the Commission is publishing a notice 
of the proposed renewal of the existing collection of information 
listed below. 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.\1\
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    \1\ 44 U.S.C. 3512, 5 CFR 1320.5(b)(2)(i) and 1320.8(b)(3)(vi). 
See also 46 FR 63035 (Dec. 30, 1981).
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    Title: Regulations Establishing and Governing the Duties of Swap 
Dealers and Major Swap Participants, OMB Control Number 3038-0084. This 
is a request for a renewal of a currently approved information 
collection.
    Abstract: On April 3, 2012,\2\ the Commission adopted Commission 
regulations 23.600 (Risk Management Program for Swap Dealers and Major 
Swap Participants), 23.601 (Monitoring of Position Limits), 23.602 
(Diligent Supervision), 23.603 (Business Continuity and Disaster 
Recovery), 23.606 (General Information: Availability for Disclosure and 
Inspection), and 23.607 (Antitrust Considerations) \3\ pursuant to 
section 4s(j) \4\ of the Commodity Exchange Act (CEA). The above 
regulations adopted by the Commission require, among other things, swap 
dealers (SDs) \5\ and major swap participants (MSPs) \6\ to: (1) 
develop robust and professional risk management systems adequate for 
managing the day-to-day business of the SD or MSP; (2) monitor its 
trading in swaps to prevent violations of applicable position limits; 
(3) disclose to the Commission and to the prudential regulator for the 
SD or MSP, as applicable, information concerning (A) terms and 
condition of its swaps, (B) swap trading operations, mechanisms, and 
practices, (C) financial integrity protections relating to swaps, and 
(D) other information relevant to its trading in swaps; and (4) 
establish and enforce internal systems and procedures to obtain any 
necessary information needed to perform their duties and to provide 
such information to the Commission and any applicable prudential 
regulator. The Commission believes that the information collection 
obligations imposed by the above regulations are essential to ensuring 
that SDs and MSPs maintain adequate and effective risk management.
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    \2\ 77 FR 20128 (Apr. 3, 2012).
    \3\ 17 CFR 23.600, 23.601, 23.602, 23.603, 23.606, and 23.607.
    \4\ 7 U.S.C. 6s(j).
    \5\ For the definition of SD, see section 1a(49) of the CEA and 
Commission regulation 1.3. 7 U.S.C. 1a(49) and 17 CFR 1.3.
    \6\ For the definitions of MSP, see section 1a(33) of the CEA 
and Commission regulation 1.3. 7 U.S.C. 1a(33) and 17 CFR 1.3.
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    With respect to the collection of information, the CFTC invites 
comments on:
     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;
     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;
     Ways to enhance the quality, usefulness, and clarity of 
the information to be collected; and
     Ways to minimize the burden of collection of information 
on those who are to respond, including using appropriate automated 
electronic, mechanical, or other technological collection techniques or 
other forms of information technology, e.g., permitting electronic 
submission of responses.
    You should submit only information that you wish to make available 
publicly. If you wish for the Commission to consider information that 
you believe is exempt from disclosure under the Freedom of Information 
Act (``FOIA''), a petition for confidential treatment of the exempt 
information may be submitted according to the procedures established in 
Section 145.9 of the Commission's regulations.\7\
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    \7\ 17 CFR 145.9, 74 FR 17395 (Apr. 15, 2009).
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    The Commission reserves the right, but shall have no obligation, to 
review, pre-screen, filter, redact, refuse or remove any or all of your 
submission from https://www.cftc.gov that it may deem to be 
inappropriate for publication, such as obscene language. All 
submissions that have been redacted or removed that contain comments on 
the merits of the Information Collection Requirement will be retained 
in the public comment file and will be considered as required under the 
Administrative Procedure Act and other applicable laws, and may be 
accessible under FOIA.
    Burden Statement: The Commission is revising its burden estimate 
for this collection to reflect the current number of respondents and 
the current number of estimated burden hours.\8\ The

[[Page 9077]]

respondents' burden for this collection is estimated to be as follows:
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    \8\ There was a separation of functions that resulted in a 
change of estimated burden hours per respondent. The estimated 
average burden hours increased from 1,148.5 to 1,149.5. In the prior 
renewal, two functions were combined and used for calculating the 
estimated burden hours. Separating these functions resulted in an 
adjustment to burden hours.
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    Estimated Number of Respondents: 106.
    Estimated Average Burden Hours per Respondent: 1,149.5 hours.
    Estimated Total Annual Burden Hours: 121,847 hours.
    Frequency of Collection: As applicable.
    There are no capital costs or operating and maintenance costs 
associated with this collection.

(Authority: 44 U.S.C. 3501 et seq.)

    Dated: February 3, 2025.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2025-02307 Filed 2-5-25; 8:45 am]
BILLING CODE 6351-01-P
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