80 FR 12261 - Agency Information Collection Activities: Information Collection Renewal; Comment Request; Recordkeeping Requirements for Securities Transactions
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency Federal Register Volume 80, Issue 44 (March 6, 2015)
Office of the Comptroller of the Currency
Federal Register Volume 80, Issue 44 (March 6, 2015)
| Page Range | 12261-12262 | |
| FR Document | 2015-05154 |
[Federal Register Volume 80, Number 44 (Friday, March 6, 2015)] [Notices] [Pages 12261-12262] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-05154] ======================================================================= ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Agency Information Collection Activities: Information Collection Renewal; Comment Request; Recordkeeping Requirements for Securities Transactions AGENCY: Office of the Comptroller of the Currency (OCC), Treasury. ACTION: Notice and request for comment. ----------------------------------------------------------------------- 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 the respondent is 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 its information collection titled, ``Recordkeeping Requirements for Securities Transactions.'' DATES: You should submit comments by May 5, 2015. ADDRESSES: Because paper mail in the Washington, DC area and at the OCC is subject to delay, commenters are encouraged to submit comments by email, if possible. Comments may be sent to: Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, Attention: 1557-0142, 400 7th Street SW., Suite 3E-218, Mail Stop 9W- 11, Washington, DC 20219. In addition, comments may be sent by fax to (571) 465-4326 or by electronic mail to [email protected]. You may personally inspect and photocopy comments at the OCC, 400 7th Street SW., Washington, DC 20219. For security reasons, the OCC requires that visitors make an appointment to inspect comments. You may do so by calling (202) 649-6700. Upon arrival, visitors will be required to present valid government-issued photo identification and to submit to security screening in order to inspect and photocopy comments. All comments received, including attachments and other supporting materials, are part of the public record and subject to public disclosure. Do not enclose any information in your comment or supporting materials that you consider confidential or inappropriate for public disclosure. FOR FURTHER INFORMATION CONTACT: Mary H. Gottlieb, OCC Clearance Officer, (202) 649-5490, for persons who are deaf or hard of hearing, TTY, (202) 649-5597, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, 400 7th Street SW., Suite 3E-218, Mail Stop 9W-11, Washington, DC 20219. SUPPLEMENTARY INFORMATION: The OCC is proposing to extend OMB approval of the following information collection: Title: Recordkeeping Requirements for Securities Transactions--12 CFR parts 12 and 151. OMB Number: 1557-0142. Description: The information collection requirements in 12 CFR parts 12 and 151 are required to ensure that national banks and Federal savings associations comply with securities laws and to improve the protections afforded to persons who purchase and sell securities through these financial institutions. Parts 12 and 151 establish recordkeeping and confirmation requirements applicable to certain securities transactions effected by national banks or Federal savings associations for customers. The transaction confirmation information required by these regulations ensures that customers receive a record of each securities transaction and that financial institutions and the OCC have the records necessary to monitor compliance with securities laws and regulations. The OCC uses the required information in the course of its examinations to evaluate, among other things, an institution's compliance with the antifraud provisions of the Federal securities laws. The information collection requirements contained in 12 CFR parts 12 and 151 are as follows:12 CFR 12.3 requires a national bank effecting securities transactions for customers to maintain records for at least three years. The records required by this section must clearly and accurately reflect the information required and provide an adequate basis for the audit of the information. 12 CFR 151.50 requires a Federal savings association effecting securities transactions for customers to maintain records for at least three years. 12 CFR 151.60 provides that the records required by 12 CFR 151.50 must clearly and accurately reflect the information required and provide an adequate basis for audit of the information. 12 CFR 12.4 requires a national bank to give or send to the customer a written notification of the transaction or a copy of the registered broker/dealer confirmation relating to the transaction at or before completion of the securities transaction and establishes minimum disclosures needed for a customer's securities transactions. 12 CFR 151.70, 151.80 and 151.90 establish the minimum disclosures required for a Federal savings association's confirmation of a customer's securities transactions. 12 CFR 151.90 requires a Federal savings association to provide its customers with a written notice of each securities transaction, which it must give or send to the customer at or before the completion of the securities transaction. 12 CFR 12.5(a), (b), (c), and (e) describe notification procedures that a national bank may elect to use, as an alternative to complying with Sec. 12.4, to notify customers of transactions in which the bank does not exercise investment discretion, trust transactions, agency transactions, and certain periodic plan transactions. 12 CFR 151.100 describes notification procedures that a Federal savings association may use, as an alternative to complying with 12 CFR 151.70, 151.80 or 151.90, for an account in which the savings association does not exercise investment discretion, trust transactions, agency transactions, certain periodic plan transactions, collective investment fund transactions, and money market funds. 12 CFR 12.7(a)(1) through (a)(3) require national banks to maintain and adhere to policies and procedures that assign responsibility for supervision of employees who perform securities trading functions, provide for the fair [[Page 12262]] and equitable allocation of securities and prices to accounts, and provide for crossing of buy and sell orders on a fair and equitable basis. 12 CFR 151.140 requires Federal savings associations to adopt written policies and procedures dealing with the functions involved in effecting securities transactions on behalf of customers. These policies and procedures must assign responsibility for the supervision of employees who perform securities trading functions, provide for the fair and equitable allocation of securities prices to accounts, and provide for crossing of buy and sell orders on a fair and equitable basis. 12 CFR 12.7(a)(4) requires certain national bank officers and employees involved in the securities trading process to report to the bank all personal transactions in securities made by them or on their behalf in which they have a beneficial interest. 12 CFR 151.150 requires certain Federal savings association officers and employees to report personal transactions they make or that are made on their behalf in which they have a beneficial interest. 12 CFR 12.8 requires a national bank seeking a waiver of one or more of the requirements of Sec. Sec. 12.2 through 12.7 to file a written request for waiver with the OCC. Type of Review: Regular. Affected Public: Individuals; Businesses or other for-profit. Estimated Number of Respondents: 399. Estimated Frequency of Response: On occasion. Estimated Total Annual Burden: 2,315 hours. Comments submitted in response to this notice will be summarized and included in the request for OMB approval. All comments will become a matter of public record. Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the OCC, including whether the information has practical utility; (b) The accuracy of the OCC's estimate of the burden of the collection of information; (c) Ways to enhance the quality, utility, and clarity of the information to be collected; (d) Ways to minimize the burden of the collection 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: March 2, 2015. Stuart E. Feldstein, Director, Legislative and Regulatory Activities Division. [FR Doc. 2015-05154 Filed 3-5-15; 8:45 am] BILLING CODE 4810-33-P
![Federal Register / Vol. 80, No. 44 / Friday, March 6, 2015 / Notices 12261
as the realignment of Simms Street to Comptroller of the Currency, Attention: the antifraud provisions of the Federal
allow for more aviation development to 1557–0142, 400 7th Street SW., Suite securities laws.
the east. The proceeds for the disposal 3E–218, Mail Stop 9W–11, Washington, The information collection
of the property will be at fair market DC 20219. In addition, comments may requirements contained in 12 CFR parts
value and the sponsor will utilize the be sent by fax to (571) 465–4326 or by 12 and 151 are as follows:
revenue to reinvest into future airport electronic mail to regs.comments@ • 12 CFR 12.3 requires a national
development. occ.treas.gov. You may personally bank effecting securities transactions for
Any person may inspect, by inspect and photocopy comments at the customers to maintain records for at
appointment, the request in person at OCC, 400 7th Street SW., Washington, least three years. The records required
the FAA office listed above under FOR DC 20219. For security reasons, the OCC by this section must clearly and
FURTHER INFORMATION CONTACT. requires that visitors make an accurately reflect the information
In addition, any person may, upon appointment to inspect comments. You required and provide an adequate basis
appointment and request, inspect the may do so by calling (202) 649–6700. for the audit of the information.
application, notice and other documents Upon arrival, visitors will be required to • 12 CFR 151.50 requires a Federal
germane to the application in person at present valid government-issued photo savings association effecting securities
the Rocky Mountain Metropolitan identification and to submit to security transactions for customers to maintain
Airport. screening in order to inspect and records for at least three years. 12 CFR
photocopy comments. All comments 151.60 provides that the records
Issued in Denver, Colorado, on February required by 12 CFR 151.50 must clearly
25, 2015. received, including attachments and
other supporting materials, are part of and accurately reflect the information
John P. Bauer, required and provide an adequate basis
Manager, Denver Airports District Office. the public record and subject to public
disclosure. Do not enclose any for audit of the information.
[FR Doc. 2015–05109 Filed 3–5–15; 8:45 am]
information in your comment or • 12 CFR 12.4 requires a national
BILLING CODE 4910–13–P
supporting materials that you consider bank to give or send to the customer a
confidential or inappropriate for public written notification of the transaction or
disclosure. a copy of the registered broker/dealer
DEPARTMENT OF THE TREASURY confirmation relating to the transaction
FOR FURTHER INFORMATION CONTACT: at or before completion of the securities
Office of the Comptroller of the Mary H. Gottlieb, OCC Clearance transaction and establishes minimum
Currency Officer, (202) 649–5490, for persons disclosures needed for a customer’s
who are deaf or hard of hearing, TTY, securities transactions.
Agency Information Collection (202) 649–5597, Legislative and • 12 CFR 151.70, 151.80 and 151.90
Activities: Information Collection Regulatory Activities Division, Office of establish the minimum disclosures
Renewal; Comment Request; the Comptroller of the Currency, 400 7th required for a Federal savings
Recordkeeping Requirements for Street SW., Suite 3E–218, Mail Stop association’s confirmation of a
Securities Transactions 9W–11, Washington, DC 20219. customer’s securities transactions.
AGENCY: Office of the Comptroller of the SUPPLEMENTARY INFORMATION: The OCC • 12 CFR 151.90 requires a Federal
Currency (OCC), Treasury. is proposing to extend OMB approval of savings association to provide its
the following information collection: customers with a written notice of each
ACTION: Notice and request for comment. securities transaction, which it must
Title: Recordkeeping Requirements
SUMMARY: The OCC, as part of its for Securities Transactions—12 CFR give or send to the customer at or before
continuing effort to reduce paperwork parts 12 and 151. the completion of the securities
and respondent burden, invites the transaction.
OMB Number: 1557–0142. • 12 CFR 12.5(a), (b), (c), and (e)
general public and other Federal Description: The information
agencies to take this opportunity to describe notification procedures that a
collection requirements in 12 CFR parts national bank may elect to use, as an
comment on a continuing information 12 and 151 are required to ensure that
collection, as required by the Paperwork alternative to complying with § 12.4, to
national banks and Federal savings notify customers of transactions in
Reduction Act of 1995 (PRA). In associations comply with securities
accordance with the requirements of the which the bank does not exercise
laws and to improve the protections investment discretion, trust
PRA, the OCC may not conduct or afforded to persons who purchase and
sponsor, and the respondent is not transactions, agency transactions, and
sell securities through these financial certain periodic plan transactions.
required to respond to, an information institutions. Parts 12 and 151 establish • 12 CFR 151.100 describes
collection unless it displays a currently recordkeeping and confirmation notification procedures that a Federal
valid Office of Management and Budget requirements applicable to certain savings association may use, as an
(OMB) control number. The OCC is securities transactions effected by alternative to complying with 12 CFR
soliciting comment concerning its national banks or Federal savings 151.70, 151.80 or 151.90, for an account
information collection titled, associations for customers. The in which the savings association does
‘‘Recordkeeping Requirements for transaction confirmation information not exercise investment discretion, trust
Securities Transactions.’’ required by these regulations ensures transactions, agency transactions,
DATES: You should submit comments by that customers receive a record of each certain periodic plan transactions,
May 5, 2015.
mstockstill on DSK4VPTVN1PROD with NOTICES
securities transaction and that financial collective investment fund transactions,
ADDRESSES: Because paper mail in the institutions and the OCC have the and money market funds.
Washington, DC area and at the OCC is records necessary to monitor • 12 CFR 12.7(a)(1) through (a)(3)
subject to delay, commenters are compliance with securities laws and require national banks to maintain and
encouraged to submit comments by regulations. The OCC uses the required adhere to policies and procedures that
email, if possible. Comments may be information in the course of its assign responsibility for supervision of
sent to: Legislative and Regulatory examinations to evaluate, among other employees who perform securities
Activities Division, Office of the things, an institution’s compliance with trading functions, provide for the fair
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![12262 Federal Register / Vol. 80, No. 44 / Friday, March 6, 2015 / Notices
and equitable allocation of securities (b) The accuracy of the OCC’s ADDRESSES: Written comments may be
and prices to accounts, and provide for estimate of the burden of the collection submitted through www.regulations.gov;
crossing of buy and sell orders on a fair of information; by mail or hand-delivery to the Director,
and equitable basis. (c) Ways to enhance the quality, Regulations Management (02REG),
• 12 CFR 151.140 requires Federal utility, and clarity of the information to Department of Veterans Affairs, 810
savings associations to adopt written be collected; Vermont Avenue NW., Room 1068,
policies and procedures dealing with (d) Ways to minimize the burden of Washington, DC, 20420; or by fax to
the functions involved in effecting the collection on respondents, including (202) 273–9026. Copies of comments
securities transactions on behalf of through the use of automated collection received will be available for public
customers. These policies and techniques or other forms of information inspection in the Office of Regulation
procedures must assign responsibility technology; and Policy and Management, Room 1063B,
for the supervision of employees who (e) Estimates of capital or start-up between the hours of 8:00 a.m. and 4:30
perform securities trading functions, costs and costs of operation, p.m., Monday through Friday (except
provide for the fair and equitable maintenance, and purchase of services holidays). Call (202) 461–4902 for an
allocation of securities prices to to provide information. appointment (this is not a toll-free
accounts, and provide for crossing of Dated: March 2, 2015. number). In addition, during the
buy and sell orders on a fair and comment period, comments may be
Stuart E. Feldstein,
equitable basis. viewed online through the Federal
Director, Legislative and Regulatory Activities
• 12 CFR 12.7(a)(4) requires certain Division.
Docket Management System at http://
national bank officers and employees www.regulations.gov.
[FR Doc. 2015–05154 Filed 3–5–15; 8:45 am]
involved in the securities trading FOR FURTHER INFORMATION CONTACT: Dr.
BILLING CODE 4810–33–P
process to report to the bank all Lee A. Sylvers, Technology Transfer
personal transactions in securities made Specialist, Office of Research and
by them or on their behalf in which they Development (10P9TT), Department of
have a beneficial interest. Veterans Affairs, 810 Vermont Avenue
DEPARTMENT OF VETERANS
• 12 CFR 151.150 requires certain NW., Washington, DC, 20420, (202)
AFFAIRS
Federal savings association officers and 443–5646 (this is not a toll-free
employees to report personal Notice of Intent To Grant an Exclusive number).
transactions they make or that are made License
on their behalf in which they have a SUPPLEMENTARY INFORMATION: It is in the
beneficial interest. AGENCY: Office of Research and public interest to so license these
• 12 CFR 12.8 requires a national Development, Department of Veterans inventions, as Rubicon Biotechnology,
bank seeking a waiver of one or more of Affairs. LLC submitted a complete and sufficient
the requirements of §§ 12.2 through 12.7 ACTION: Notice of Intent. application for a license. The
to file a written request for waiver with prospective exclusive license will be
the OCC. SUMMARY: Notice is hereby given that royalty-bearing and will comply with
Type of Review: Regular. the Department of Veterans Affairs, the terms and conditions of 35 U.S.C.
Affected Public: Individuals; Office of Research and Development, 209 and 37 CFR 404.7.
Businesses or other for-profit. intends to grant to Rubicon Signing Authority
Estimated Number of Respondents: Biotechnology, LLC, 26212 Dimension
Dr. Suite 260, Lake Forest, CA 92630, The Secretary of Veterans Affairs, or
399.
USA, an exclusive license to practice designee, approved this document and
Estimated Frequency of Response: On
the following: U.S. Patent Application authorized the undersigned to sign and
occasion.
Serial No. 13/815,829 (‘‘ANTIBODY- submit the document to the Office of the
Estimated Total Annual Burden:
MEDIATED TRANSDUCTION OF HEAT Federal Register for publication
2,315 hours.
SHOCK PROTEINS INTO LIVING electronically as an official document of
Comments submitted in response to the Department of Veterans Affairs. Jose
this notice will be summarized and CELLS’’), filed March 15, 2013, which
claimed the priority of U.S. Serial No. D. Riojas, Chief of Staff, approved this
included in the request for OMB document on March 2, 2015 for
approval. All comments will become a 61/618,594, filed March 30, 2012.
Copies of the published patent publication.
matter of public record. Comments are
invited on: applications may be obtained from the Approved: March 3, 2015.
(a) Whether the collection of U.S. Patent and Trademark Office at Michael Shores,
information is necessary for the proper www.uspto.gov. Regulation Policy and Management, Office
performance of the functions of the DATES: Comments must be received 15 of General Counsel.
OCC, including whether the information days from the date of this published [FR Doc. 2015–05209 Filed 3–5–15; 8:45 am]
has practical utility; Notice. BILLING CODE 8320–01–P
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Document Created: 2018-02-21 09:33:30
Document Modified: 2018-02-21 09:33:30
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | Notice and request for comment. | |
| Dates | You should submit comments by May 5, 2015. | |
| Contact | Mary H. Gottlieb, OCC Clearance Officer, (202) 649-5490, for persons who are deaf or hard of hearing, TTY, (202) 649-5597, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, 400 7th Street SW., Suite 3E-218, Mail Stop 9W-11, Washington, DC 20219. | |
| FR Citation | 80 FR 12261 |
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