[Federal Register: October 2, 2008 (Volume 73, Number 192)]
[Notices]               
[Page 57338-57339]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr02oc08-40]                         

=======================================================================
-----------------------------------------------------------------------

COMMODITY FUTURES TRADING COMMISSION

 
Agency Information Collection Activities: Notification of Pending 
Legal Proceedings Pursuant to Regulation

AGENCY: Commodity Futures trading commission.

ACTION: Renewal of an existing collection--3038-0033.

-----------------------------------------------------------------------

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 the rule 
requiring notification of pending legal proceedings pursuant to 17 CFR 
1.60.

DATES: Comments must be submitted on or before December 1, 2008.

ADDRESSES: Comments may be mailed to Lynn A. Bulan, Office of the 
General Counsel, U.S. Commodity Futures Trading Commission, 1155 21st 
Street, NW., Washington, DC 20581.

FOR FURTHER INFORMATION CONTACT: Lynn A. Bulan, (202) 418-5143; FAX: 
(202) 418-5567; e-mail: lbulan@cftc.gov.

SUPPLEMENTARY 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 60-day 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.

Notification of Pending Legal Proceedings Pursuant to 17 CFR 1.60, OMB 
Control Number 3038-0033--Extension

    The rule is designed to assist the Commission in monitoring legal 
proceedings involving the responsibilities imposed on contract markets 
and their officials and futures commission merchants and their 
principals by the Commodity Exchange Act, or otherwise.

[[Page 57339]]

    The Commission's rules require futures commission merchants and 
introducing brokers: (1) To provide their customers with standard risk 
disclosure statements concerning the risk of trading commodity 
interests; and (2) to retain all promotional material and the source of 
authority for information contained therein. The purpose of these rules 
is to ensure that customers are advised of the risks of trading 
commodity interests and to avoid fraud and misrepresentation. In 
addition, the Commission's rules impose obligations on contract markets 
that are designed to avoid manipulation and fraud. In order to ensure 
compliance with these rules, the Commission requires the information 
whose collection and dissemination is required under 17 CFR 1.60.
    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       responses         response         Total hours
----------------------------------------------------------------------------------------------------------------
1.60....................................               235                 1               .10               .10
----------------------------------------------------------------------------------------------------------------

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

    Dated: September 26, 2008.
David Stawick,
Secretary of the Commission.
 [FR Doc. E8-23220 Filed 10-1-08; 8:45 am]

BILLING CODE 6351-01-P