Federal Register: NOTICES : Agency Information Collection Activities: Notice of Intent To Renew Collection 3038-0095, Rules Relating to Security Futures Products

COMMODITY FUTURES TRADING COMMISSION

Commodity Futures Trading Commission

NOTICE: NOTICES

DOCUMENT ACTION: Notice.

SUBJECT CATEGORY: Agency Information Collection Activities: Notice of Intent To Renew Collection 3038-0095, Rules Relating to Security Futures Products

DATES: Comments must be submitted on or before December 6, 2004.

DOCUMENT SUMMARY: The Commodity Futures Trading Commission (CFTC) is announcing an opportunity for public comment on the proposed collection of certain information by the agency. Under the Paperwork Reduction Act of 1995 (PRA), 44 U.S.C. 3501 et seq., Federal agencies are required to publish notice in the Federal Register concerning each proposed collection of information, including each proposed extension of an existing collection of information, and to allow 60 days for public comment in response to the notice. This notice solicits comments on rules relating to Security Futures Products.

SUMMARY: Agency information collection activities; proposals, submissions, and approvals,

SUPPLEMENTAL INFORMATION

Under the PRA, 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(c) 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 60day notice in the Federal Register concerning each proposed collection of information, including each proposed extension of an existing collection of information, before submitting the collection to OMB for approval. To comply with this requirement, the CFTC is publishing notice of the proposed collection of information listed below.

With respect to the following 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 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.
Rules Relating to Security Futures Products, OMB Control Number 3038 0059Extension

The Commission's Part 41 rules establish the regulatory framework governing the offer and sale of security futures. Section 5f of the Commodity Exchange Act mandates that the Commission set forth procedures that permits certain entitiesspecifically, national securities exchanges, national securities associations, and alternative trading systemsthat would otherwise be regulated by the SEC, to become designated contract markets for the limited purpose of trading security futures products.

The Commission estimates the burden of this collection of information as follows:
Estimated Annual Reporting Burden Annual number Total annual Hours per 17 CFR section of respondents Frequency of response responses response Total hours 17 CFR 41....................................... 144 On occasion....................... 2,739 0.05 1,620 [[Page 59582]]

There are no capital costs or operating and maintenance costs associated with this collection.

This estimate is based on the number of requests for such designations submitted in the last three years. Although the burden varies with the type, size, and complexity of the request submitted, such request might involve analytical work and analysis, as well as the work of drafting the request itself.

Dated: September 29, 2004.
Jean A. Webb,
Secretary of Commission.
[FR Doc. 0422299 Filed 10404; 8:45 am]
BILLING CODE 635101M

FOR FURTHER INFORMATION CONTACT David Van Wagner (202) 418-5481; FAX: (202) 4185527; email: dvanwagner@cftc.gov.