CFTC Solicits Comments on Large Trader Reports

The CFTC issued a request for comments on large trader reports and related forms. The purpose of the request is to ensure that the CFTC receives enough information to carry out its market and financial surveillance programs effectively.

CEA Section 4g imposes reporting and recordkeeping obligations on registered entities and registrants (including futures commission merchants, introducing brokers, floor brokers and floor traders), and requires each registrant to file such reports as the CFTC may require on proprietary and customer positions executed on any board of trade in the United States or elsewhere.

The CFTC requests written 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 the collection of information on those who must respond, including through the use of appropriate automated electronic, mechanical or other technological collection techniques, or other forms of information technology; e.g., permitting the electronic submission of responses.

See: 80 FR 25280.