Rules and Regulations. Notice and request for comment; correction

Agency: Office of the Comptroller of the Currency (OCC), Treasury
Action: Notice and request for comment; correction
Citation: FR Doc. 2019-10443

Summary

The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other federal agencies to take this opportunity to comment on a continuing information collection as required by the Paperwork Reduction Act of 1995 (PRA). In accordance with the requirements of the PRA, the OCC may not conduct or sponsor, and respondents are not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The OCC is soliciting comment concerning the renewal of its information collection titled “Securities Exchange Act Disclosure Rules and Securities of Federal Savings Associations.” This notice was first issued on March 29, 2019. It is being reissued to correct an error in the burden estimates.

Dates

Comments must be received on or before July 19, 2019.

Supplementary Information

Under the PRA (44 U.S.C. 3501-3520), federal agencies must obtain approval from the OMB for each collection of information that they conduct or sponsor. “Collection of information” is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to include 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 title 44 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 OCC is publishing notice of the renewal of the collection of information set forth in this document. Title: Securities Exchange Act Disclosure Rules and Securities of Federal Savings Associations. OMB Control No.: 1557-0106. Description: This submission covers an existing regulation and involves no change to the regulation or to the information collection requirements. The OCC requests only that OMB approve its revised burden estimates. The Securities and Exchange Commission (SEC) is required by statute to collect, in accordance with its regulations, certain information and documents from any firm that is required to register its stock with the SEC. 2 Federal law requires the OCC to apply similar regulations to any national bank or federal savings association similarly required to be registered with the SEC (generally those with a class of equity securities held by 2,000 or more shareholders). 3 2 15 U.S.C. 78m(a)(1). 3 15 U.S.C. 78l(i). 12 CFR part 11 ensures that a national bank or federal savings association whose securities are subject to registration provides adequate information about its operations to current and potential shareholders, and the public. The OCC reviews the information to ensure that it complies with federal law and makes public all information required to be filed under the rule. Type of Review: Extension of a currently approved collection. Affected Public: Individuals; Businesses or other for-profit. Frequency of Response: On occasion. Estimated Number of Respondents: 41. Estimated Total Annual Burden: 408.948 hours. Comments submitted in response to this notice will be summarized and included in the submission to OMB. Comments are requested on: (a) Whether the information collections are necessary for the proper performance of the OCC's functions, including whether the information has practical utility; (b) The accuracy of the OCC's estimates of the burden of the information collections, including the validity of the methodology and assumptions used; (c) Ways to enhance the quality, utility, and clarity of the information to be collected; (d) Ways to minimize the burden of information collections on respondents, including through the use of automated collection techniques or other forms of information technology; and (e) Estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information. Dated: May 14, 2019. Theodore J. Dowd, Deputy Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2019-10443 Filed 5-17-19; 8:45 am]