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[Federal Register: June 22, 2004 (Volume 69, Number 119)]
[Notices]
[Page 34656-34657]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr22jn04-63]

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COMMODITY FUTURES TRADING COMMISSION


Agency Information Collection Activities Under OMB Review: Notice
of Intent To Renew Collection 3038-0054, Establishing Procedures for
Entities Operating as Exempt Markets

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 Information Collection Request
(ICR) abstracted below has been forwarded to the Office of Management
and Budget (OMB) for review and comment. The ICR describes the nature
of the information collection and its expected costs and burden; it
includes the actual data collection instruments [if any].

DATES: Comments must be submitted on or before July 22, 2004.

FOR FURTHER INFORMATION CONTACT: Richard Shilts, Division of Market
Oversight, U.S. Commodity Futures Trading Commission, 1155 21st Street,
NW, Washington, DC 20581, (202) 418-5275; FAX: (202) 418-5527; email:
[email protected] and refer to OMB Control No. 3038-0054.

SUPPLEMENTARY INFORMATION:
    Title: Establishing Procedures for Entities Operating as Exempt
Markets, OMB Control No. 3038-0054. This is a request for extension of
a currently approved information collection.
    Abstract: Sections 2(h)(3) through (5) of the Commodity Exchange
Act (Act) add exempt commercial markets as markets excluded from the
Act's other requirements. The rules implement the qualifying conditions
of the exemption. Rule 36.3(a) implements the notification
requirements, and rule 36.3(b)(1) establishes information requirements
for exempt commercial markets consistent with section 2(h)(5)(B) of the
Act. And exempt commercial market may provide the Commission with
access to transactions conducted on the facility or it can satisfy its
reporting requirements by complying with the Commission's reporting
requirements. The act affirmatively vests the Commission with
comprehensive anti-manipulation enforcement authority over these
trading facilities. The Commission is charged with monitoring these
markets for manipulation and enforcing the anti-manipulation provisions
of the Act. The informational requirements imposed by proposed rules
are designed to ensure that the Commission can effectively perform
these functions. Section 5d of the Act establishes a category of market

[[Page 34657]]

exempt from Commission oversight referred to as an ``exempt board of
trade.'' Rule 36.2 implements regulations that define those commodities
that are eligible to trade on an exempt board of trade. Rule 36.2(b)
implements the notification requirements of section 5d of the Act. Rule
36.2(b)(1) requires exempt boards of trade relying on this exemption to
disclose to traders that the facility and trading on the facility is
not regulated by the Commission. This requirement is necessary to make
manifest the nature of the market and to avoid misleading the public.
    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 Federal Register notice with a 60-day comment
period soliciting comments on this collection of information was
published on February 23, 2004 (69 FR 8180-01).
    Burden statement: The respondent burden for this collection is
estimated to average 10 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 provide 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: 10.
    Estimated number of responses: 10.
    Estimated total annual burden on respondents: 100 hours.
    Frequency of collection: On Occasion.
    Send comments regarding the burden estimated or any other aspect of
the information collection, including suggestions for reducing the
burden, to the addresses listed below. Please refer to OMB Control No.
3038-0054 in any correspondence.
    Richard Shiltz, Division of Market Oversight, U.S. Commodity
Futures Trading Commission, 1155 21st Street, NW., Washington, DC
20581, and Office of Information and Regulatory Affairs, Office of
Management and Budget, Attention: Desk Officer for CFTC, 725 17th
Street, Washington, DC 20503.

    Dated: June 15, 2004.
Jean A. Webb,
Secretary of the Commission.
[FR Doc. 04-14011 Filed 6-21-04; 8:45 am]
BILLING CODE 6351-01-M
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