The Commodity Futures Trading Commission has issued a notice as required by the Paperwork Reduction Act. This notice refers to an information collection related to the requirement for futures commission merchants to collect margin for omnibus accounts on a gross basis, which is important for compliance with regulations. Public comments are welcome until March 1, 2021, and can be submitted electronically or by mail. The collection is estimated to involve 53 entities, with a total expected annual burden of 17 hours and no associated capital or operating costs.
Simple Explanation
The Commodity Futures Trading Commission wants to check how futures companies are collecting money safely. They are asking people to share their thoughts until March 1, 2021, but the way to send comments might be a bit tricky.