80 FR 60075 - Regulatory Publication and Review Under the Economic Growth and Regulatory Paperwork Reduction Act of 1996
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
FEDERAL RESERVE SYSTEM
FEDERAL DEPOSIT INSURANCE CORPORATION Federal Register Volume 80, Issue 192 (October 5, 2015)
Office of the Comptroller of the Currency
FEDERAL RESERVE SYSTEM
FEDERAL DEPOSIT INSURANCE CORPORATION
Federal Register Volume 80, Issue 192 (October 5, 2015)
| Page Range | 60075-60077 | |
| FR Document | 2015-25258 |
[Federal Register Volume 80, Number 192 (Monday, October 5, 2015)] [Proposed Rules] [Pages 60075-60077] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-25258] ======================================================================== Proposed Rules Federal Register ________________________________________________________________________ This section of the FEDERAL REGISTER contains notices to the public of the proposed issuance of rules and regulations. The purpose of these notices is to give interested persons an opportunity to participate in the rule making prior to the adoption of the final rules. ======================================================================== Federal Register / Vol. 80, No. 192 / Monday, October 5, 2015 / Proposed Rules [[Page 60075]] DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency 12 CFR Chapter I [Docket ID FFIEC-2014-0001] FEDERAL RESERVE SYSTEM 12 CFR Chapter II [Docket No. R-1510] FEDERAL DEPOSIT INSURANCE CORPORATION 12 CFR Chapter III Regulatory Publication and Review Under the Economic Growth and Regulatory Paperwork Reduction Act of 1996 AGENCIES: Office of the Comptroller of the Currency (``OCC''), Treasury; Board of Governors of the Federal Reserve System (``Board''); and Federal Deposit Insurance Corporation (``FDIC''). ACTION: Notice of outreach meeting. ----------------------------------------------------------------------- SUMMARY: The OCC, Board, and FDIC (together ``we'' or ``Agencies'') announce the fifth in a series of outreach meetings on the Agencies' interagency process to review their regulations under the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (``EGRPRA''). DATES: An outreach meeting will be held in Chicago, Illinois on Monday, October 19, 2015, beginning at 9:00 a.m. Central Daylight Time (CDT). Online registrations will be accepted through October 13, 2015, or until all seats are filled, whichever is earlier. If seats are available after the close of online registration, individuals may register in person at the Federal Reserve Bank of Chicago on the day of the meeting. The sixth outreach meeting is scheduled for December 2, 2015, in the Washington, DC, area. ADDRESSES: The Agencies will hold the October 19, 2015, outreach meeting at the Federal Reserve Bank of Chicago, 230 S. LaSalle St., Chicago, Illinois 60604. Live video of this meeting will be streamed at http://egrpra.ffiec.gov/. Participants attending in person should register at http://egrpra.ffiec.gov/outreach/outreach-index.html. In addition, to enhance participation, interested persons anywhere in the country will have the opportunity to view and participate in the meeting online using their computers. Members of the public watching online will be able to submit written comments at any time during the meeting using the text chat feature. In addition to the online option, a toll-free telephone number (888-431-3632) is available for members of the public who would like only to listen to the meeting, and who may choose later to submit written comments. Information regarding these additional participation options is described in the meeting details section for the Chicago meeting at http://egrpra.ffiec.gov/outreach/outreach-meeting-details-chicago.html. Any interested individual may submit comments through the EGRPRA Web site during open comment periods at: http://egrpra.ffiec.gov/submit-comment/submit-comment-index.html. On this site, click ``Submit a Comment'' and follow the instructions. Alternatively, comments also may be submitted through the Federal eRulemaking Portal ``Regulations.gov'' at: http://www.regulations.gov. Enter ``Docket ID FFIEC-2014-0001'' in the Search Box, click ``Search,'' and click ``Comment Now.'' Those who wish to submit their comments by an alternate means may do so as indicated by each agency below. OCC The OCC encourages commenters to submit comments through the Federal eRulemaking Portal, Regulations.gov, in accordance with the previous paragraph. Alternatively, comments may be emailed to [email protected] or sent by mail to Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, Mail Stop 9W-11, 400 7th Street SW., Washington, DC 20219. Comments also may be faxed to (571) 465-4326 or hand delivered or sent by courier to 400 7th Street SW., Washington, DC 20219. For comments submitted by any means other than Regulations.gov, you must include ``OCC'' as the agency name and ``Docket ID FFIEC-2014-0001'' in your comment. In general, the OCC will enter all comments received into the docket and publish them without change on Regulations.gov. Comments received, including attachments and other supporting materials, as well as any business or personal information you provide, such as your name and address, email address, or phone number, are part of the public record and subject to public disclosure. Therefore, please do not include any information with your comment or supporting materials that you consider confidential or inappropriate for public disclosure. You may inspect and photocopy in person all comments received by the OCC at 400 7th Street SW., Washington, DC 20219. For security reasons, the OCC requires that visitors make an appointment to inspect or photocopy comments. You may make an appointment by calling (202) 649-6700 or, for persons who are deaf or hard of hearing, TTY (202) 649-5597. Upon arrival, visitors will be required to present valid government-issued photo identification and submit to a security screening. Board The Board encourages commenters to submit comments regarding the Board's regulations by any of the following methods:Agency Web site: http://www.federalreserve.gov/apps/foia/proposedregs.aspx. Follow the instructions for submitting comments on the Agency Web site. Federal eRulemaking Portal, in accordance with the directions above. Email: [email protected]. Include ``EGRPRA'' and Docket No. R-1510 in the subject line of the message. FAX: (202) 452-3819. Mail: Robert deV. Frierson, Secretary, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue NW., Washington, DC 20551. In general, the Board will enter all comments received into the docket and publish them without change on the Board's public Web site, www.federalreserve.gov; Regulations.gov; and http://egrpra.ffiec.gov. Comments received, [[Page 60076]] including attachments and other supporting materials, as well as any business or personal information you provide, such as your name and address, email address, or phone number, are part of the public record and subject to public disclosure. Therefore, please do not enclose any information with your comment or supporting materials that you consider confidential or inappropriate for public disclosure. You may inspect and photocopy in person all comments received by the Board in Room 3515, 1801 K Street NW. (between 18th and 19th Street NW.), Washington, DC 20006, between 9:00 a.m. and 5:00 p.m. on weekdays. For security reasons, the Board requires that visitors make an appointment to inspect comments. You may make an appointment by calling (202) 452-3000. Upon arrival, visitors will be required to present valid government-issued photo identification and submit to a security screening. FDIC The FDIC encourages commenters to submit comments through the Federal eRulemaking Portal, ``Regulations.gov,'' in accordance with the directions above. Alternatively, you may submit comments by any of the following methods: Agency Web site: http://www.fdic.gov/regulations/laws/federal. Follow instructions for submitting comments on the Agency Web site. Email: [email protected]. Include ``EGRPRA'' in the subject line of the message. Mail: Robert E. Feldman, Executive Secretary, Attention: Comments, Federal Deposit Insurance Corporation, 550 17th Street NW., Washington, DC 20429. Hand Delivery/Courier: Guard station at the rear of the 550 17th Street Building (located on F Street) on business days between 7:00 a.m. and 5:00 p.m. (EDT). The FDIC will post all comments received to http://www.fdic.gov/regulations/laws/federal without change, including any personal information provided. Comments may be inspected and photocopied in the FDIC Public Information Center, 3501 North Fairfax Drive, Room E-1002, Arlington, VA 22226, between 9:00 a.m. and 5:00 p.m. (EDT) on business days. Paper copies of public comments may be ordered from the Public Information Center by calling (877) 275-3342. FOR FURTHER INFORMATION CONTACT: OCC: Heidi M. Thomas, Special Counsel, (202) 649-5490; for persons who are deaf or hard of hearing, TTY (202) 649-5597. Board: Kevin Wilson, Financial Analyst, (202) 452-2362; Claudia Von Pervieux, Counsel (202) 452-2552; for persons who are deaf or hard of hearing, TTY (202) 263-4869. FDIC: Ruth R. Amberg, Assistant General Counsel, (202) 898-3736; for persons who are deaf or hard of hearing, TTY 1-800-925-4618. SUPPLEMENTARY INFORMATION: EGRPRA \1\ directs the Agencies, along with the Federal Financial Institutions Examination Council (Council), not less frequently than once every ten years, to conduct a review of their regulations to identify outdated or otherwise unnecessary regulations imposed on insured depository institutions. As part of this review, the Agencies are holding a series of six outreach meetings to provide an opportunity for bankers, consumer and community groups, and other interested persons to present their views directly to senior management and staff of the Agencies on any of 12 specific categories of the Agencies' regulations, as further described below. The Agencies held the first of these outreach meetings on December 2, 2014, in Los Angeles, California; the second outreach meeting on February 4, 2015, in Dallas, Texas; the third outreach meeting on May 4, 2015, in Boston, Massachusetts; and the fourth outreach meeting, which focused on rural banks and their communities, on August 4, 2015, in Kansas City, Missouri. Additional details, including videos and transcripts of the first four outreach meetings, are available on the EGRPRA Web site at http://egrpra.ffiec.gov/outreach/outreach-index.html. --------------------------------------------------------------------------- \1\ Public Law 104-208 (1996), 110 Stat. 3009-414, codified at 12 U.S.C. 3311. --------------------------------------------------------------------------- The fifth outreach meeting will be held on October 19, 2015, in Chicago, Illinois, and will be streamed live at http://egrpra.ffiec.gov/. FDIC Chairman Martin J. Gruenberg, Comptroller of the Currency Thomas J. Curry, and FRB Governor Lael Brainard are scheduled to attend, along with senior staff members of the Agencies. The meeting will consist of panels of bankers and consumer and community groups who will present particular issues. There will be limited time after each panel for comments from meeting attendees. In addition, there will be a session at the end of the meeting during which audience members may present views on any of the regulations under review. The Agencies reserve the right to limit the time of individual commenters, if needed, in order to accommodate the number of persons desiring to speak. Comments made by panelists, audience members, and online participants at this meeting will be reflected in the public comment file. Audience members who do not wish to comment orally may submit written comments at the meeting. As noted above, any interested person may submit comments through the EGRPRA Web site during open comment periods at: http://egrpra.ffiec.gov/submit-comment/submit-comment-index.html or directly to the Agencies through any of the other manners specified above. All participants attending in person should register for the Chicago outreach meeting at http://egrpra.ffiec.gov/outreach/outreach-index.html. Because of space constraints, on-site attendance will be limited. Online registrations will be accepted through October 13, 2015, or until all seats are filled, whichever is earlier. If seats are available, individuals may register in person at the Federal Reserve Bank of Chicago on the day of the meeting. Individuals do not need to register to view the live-stream broadcast. We note that the meeting will be video-recorded and publicly webcast in order to increase education and outreach. By participating in person at the meeting, you consent to appear in such recordings. Additional Background on EGRPRA Section 2222 of EGRPRA directs the Agencies, along with the Council, to conduct a review of their regulations not less frequently than once every ten years to identify outdated or otherwise unnecessary regulatory requirements imposed on insured depository institutions. In conducting this review, the Agencies are required to categorize their regulations by type and, at regular intervals, provide notice and solicit public comment on categories of regulations, requesting commenters to identify areas of regulations that are outdated, unnecessary, or unduly burdensome. The statute requires the Agencies to publish in the Federal Register a summary of the comments received, identifying significant issues raised and commenting on these issues. The statute also directs the Agencies to eliminate unnecessary regulations to the extent that such action is appropriate. Finally, section 2222 requires the Council, of which the Agencies are members, to submit a report to Congress that summarizes any significant issues raised in the public comments and the relative merits of such issues. The report also must include an analysis of whether the Agencies are able to address the regulatory burdens associated with such issues by regulation or whether these burdens must be addressed by legislative action. [[Page 60077]] For purposes of this review, the Agencies have grouped our regulations into 12 categories: Applications and Reporting; Banking Operations; Capital; Community Reinvestment Act; Consumer Protection; Directors, Officers and Employees; International Operations; Money Laundering; Powers and Activities; Rules of Procedure; Safety and Soundness; and Securities. On June 4, 2014, we published a Federal Register notice announcing the start of the EGRPRA review process and also asking for public comment on three of these categories-- Applications and Reporting; Powers and Activities; and International Operations regulations.\2\ In that notice we published a chart, listing the Agencies' regulations in the 12 categories included in the EGRPRA review. On February 13, 2015, we published a Federal Register notice asking for public comment on three additional categories--Banking Operations; Capital; and the Community Reinvestment Act.\3\ The comment period for the second Federal Register notice closed on May 14, 2015. On June 5, 2015, the Agencies published a third Federal Register notice asking for public comment on three additional categories--Consumer Protection; Directors, Officers and Employees; and Money Laundering.\4\ The comment period for the third notice closed on September 3, 2015. As noted in the third Federal Register notice, the Agencies' will take comment on all of our regulations issued in final form up to the date that we publish the last EGRPRA notice for public comment. In the third notice, we published an additional chart, listing the rules included in the review that had not been reflected in prior charts. Before the end of the year, the Agencies intend to issue the final Federal Register notice, requesting comment on regulations in the last three categories--Rules of Procedure; Safety and Soundness; and Securities, as well as on any other final rules not covered by one of the prior Federal Register notices. --------------------------------------------------------------------------- \2\ 79 FR 32172. \3\ 80 FR 7980. \4\ 80 FR 32046. Dated: September 25, 2015. Thomas J. Curry, Comptroller of the Currency. By order of the Board of Governors of the Federal Reserve System, September 28, 2015. Robert deV. Frierson, Secretary of the Board. Dated: September 29, 2015. Federal Deposit Insurance Corporation by Robert E. Feldman, Executive Secretary. [FR Doc. 2015-25258 Filed 10-2-15; 8:45 am] BILLING CODE 4810-33P; 6210-01-P; 6714-01-P
![60075
Proposed Rules Federal Register
Vol. 80, No. 192
Monday, October 5, 2015
This section of the FEDERAL REGISTER the Federal Reserve Bank of Chicago, ‘‘OCC’’ as the agency name and ‘‘Docket
contains notices to the public of the proposed 230 S. LaSalle St., Chicago, Illinois ID FFIEC–2014–0001’’ in your
issuance of rules and regulations. The 60604. Live video of this meeting will comment.
purpose of these notices is to give interested be streamed at http://egrpra.ffiec.gov/. In general, the OCC will enter all
persons an opportunity to participate in the Participants attending in person should comments received into the docket and
rule making prior to the adoption of the final publish them without change on
rules.
register at http://egrpra.ffiec.gov/
outreach/outreach-index.html. Regulations.gov. Comments received,
In addition, to enhance participation, including attachments and other
DEPARTMENT OF THE TREASURY interested persons anywhere in the supporting materials, as well as any
country will have the opportunity to business or personal information you
Office of the Comptroller of the view and participate in the meeting provide, such as your name and
Currency online using their computers. Members address, email address, or phone
of the public watching online will be number, are part of the public record
12 CFR Chapter I able to submit written comments at any and subject to public disclosure.
time during the meeting using the text Therefore, please do not include any
[Docket ID FFIEC–2014–0001] information with your comment or
chat feature. In addition to the online
FEDERAL RESERVE SYSTEM option, a toll-free telephone number supporting materials that you consider
(888–431–3632) is available for confidential or inappropriate for public
12 CFR Chapter II members of the public who would like disclosure.
only to listen to the meeting, and who You may inspect and photocopy in
[Docket No. R–1510]
may choose later to submit written person all comments received by the
comments. Information regarding these OCC at 400 7th Street SW., Washington,
FEDERAL DEPOSIT INSURANCE DC 20219. For security reasons, the OCC
CORPORATION additional participation options is
described in the meeting details section requires that visitors make an
for the Chicago meeting at http:// appointment to inspect or photocopy
12 CFR Chapter III comments. You may make an
egrpra.ffiec.gov/outreach/outreach-
Regulatory Publication and Review meeting-details-chicago.html. appointment by calling (202) 649–6700
Under the Economic Growth and Any interested individual may submit or, for persons who are deaf or hard of
Regulatory Paperwork Reduction Act comments through the EGRPRA Web hearing, TTY (202) 649–5597. Upon
of 1996 site during open comment periods at: arrival, visitors will be required to
http://egrpra.ffiec.gov/submit-comment/ present valid government-issued photo
AGENCIES: Office of the Comptroller of submit-comment-index.html. On this identification and submit to a security
the Currency (‘‘OCC’’), Treasury; Board site, click ‘‘Submit a Comment’’ and screening.
of Governors of the Federal Reserve follow the instructions. Alternatively, Board
System (‘‘Board’’); and Federal Deposit comments also may be submitted
Insurance Corporation (‘‘FDIC’’). The Board encourages commenters to
through the Federal eRulemaking Portal submit comments regarding the Board’s
ACTION: Notice of outreach meeting. ‘‘Regulations.gov’’ at: http:// regulations by any of the following
www.regulations.gov. Enter ‘‘Docket ID methods:
SUMMARY: The OCC, Board, and FDIC
FFIEC–2014–0001’’ in the Search Box, • Agency Web site: http://
(together ‘‘we’’ or ‘‘Agencies’’) announce
click ‘‘Search,’’ and click ‘‘Comment www.federalreserve.gov/apps/foia/
the fifth in a series of outreach meetings
Now.’’ Those who wish to submit their proposedregs.aspx. Follow the
on the Agencies’ interagency process to
comments by an alternate means may do instructions for submitting comments
review their regulations under the
so as indicated by each agency below. on the Agency Web site.
Economic Growth and Regulatory
Paperwork Reduction Act of 1996 OCC • Federal eRulemaking Portal, in
(‘‘EGRPRA’’). accordance with the directions above.
The OCC encourages commenters to • Email: regs.comments@
DATES: An outreach meeting will be submit comments through the Federal federalreserve.gov. Include ‘‘EGRPRA’’
held in Chicago, Illinois on Monday, eRulemaking Portal, Regulations.gov, in and Docket No. R–1510 in the subject
October 19, 2015, beginning at 9:00 a.m. accordance with the previous line of the message.
Central Daylight Time (CDT). Online paragraph. Alternatively, comments • FAX: (202) 452–3819.
registrations will be accepted through may be emailed to regs.comments@ • Mail: Robert deV. Frierson,
October 13, 2015, or until all seats are occ.treas.gov or sent by mail to Secretary, Board of Governors of the
filled, whichever is earlier. If seats are Legislative and Regulatory Activities Federal Reserve System, 20th Street and
available after the close of online Division, Office of the Comptroller of Constitution Avenue NW., Washington,
mstockstill on DSK4VPTVN1PROD with PROPOSALS
registration, individuals may register in the Currency, Mail Stop 9W–11, 400 7th DC 20551.
person at the Federal Reserve Bank of Street SW., Washington, DC 20219. In general, the Board will enter all
Chicago on the day of the meeting. The Comments also may be faxed to (571) comments received into the docket and
sixth outreach meeting is scheduled for 465–4326 or hand delivered or sent by publish them without change on the
December 2, 2015, in the Washington, courier to 400 7th Street SW., Board’s public Web site,
DC, area. Washington, DC 20219. For comments www.federalreserve.gov;
ADDRESSES: The Agencies will hold the submitted by any means other than Regulations.gov; and http://
October 19, 2015, outreach meeting at Regulations.gov, you must include egrpra.ffiec.gov. Comments received,
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![Federal Register / Vol. 80, No. 192 / Monday, October 5, 2015 / Proposed Rules 60077
For purposes of this review, the Federal Deposit Insurance Corporation by ADDRESSES: You may submit comments,
Agencies have grouped our regulations Robert E. Feldman, identified by RIN 3245–AG67, by any of
into 12 categories: Applications and Executive Secretary. the following methods:
Reporting; Banking Operations; Capital; [FR Doc. 2015–25258 Filed 10–2–15; 8:45 am] • Federal eRulemaking Portal: http://
Community Reinvestment Act; BILLING CODE 4810–33P; 6210–01–P; 6714–01–P
www.regulations.gov. Follow the
Consumer Protection; Directors, Officers instructions for submitting comments.
and Employees; International • Mail, Hand Delivery/Courier: Javier
Operations; Money Laundering; Powers Saade, Associate Administrator for
SMALL BUSINESS ADMINISTRATION Investment and Innovation, U.S. Small
and Activities; Rules of Procedure;
Business Administration, 409 Third
Safety and Soundness; and Securities.
13 CFR Part 107 Street SW., Washington, DC 20416.
On June 4, 2014, we published a SBA will post comments on http://
Federal Register notice announcing the www.regulations.gov. If you wish to
start of the EGRPRA review process and RIN 3245–AG67
submit confidential business
also asking for public comment on three information (CBI) as defined in the User
Small Business Investment
of these categories—Applications and Notice at http://www.regulations.gov,
Companies; Passive Business
Reporting; Powers and Activities; and Expansion & Technical Clarifications please submit the information to
International Operations regulations.2 In Theresa Jamerson, Office of Investment
that notice we published a chart, listing AGENCY: U.S. Small Business and Innovation, 409 Third Street SW.,
the Agencies’ regulations in the 12 Administration. Washington, DC 20416. Highlight the
categories included in the EGRPRA ACTION: Proposed rule. information that you consider to be CBI
review. On February 13, 2015, we and explain why you believe this
published a Federal Register notice SUMMARY: The U.S. Small Business information should be held confidential.
asking for public comment on three Administration (SBA) proposes to revise SBA will review the information and
additional categories—Banking the regulations for the Small Business make the final determination of whether
Operations; Capital; and the Community Investment Company (SBIC) program to it will publish the information or not.
Reinvestment Act.3 The comment expand the use of Passive Businesses FOR FURTHER INFORMATION CONTACT:
period for the second Federal Register and provide further clarification with Theresa Jamerson, Office of Investment
notice closed on May 14, 2015. On June regard to investments in such and Innovation, (202) 205–7563 or sbic@
5, 2015, the Agencies published a third businesses. SBICs are generally sba.gov.
Federal Register notice asking for prohibited from investing in passive SUPPLEMENTARY INFORMATION:
public comment on three additional businesses under the Small Business
Investment Act of 1958, as amended A. Passive Businesses
categories—Consumer Protection;
Directors, Officers and Employees; and (Act). SBIC program regulations provide Section 107.720 Small Businesses
Money Laundering.4 The comment for two exceptions that allow an SBIC to That May Be Ineligible for Financing
period for the third notice closed on structure an investment utilizing a The Small Business Investment Act of
passive small business as a pass- 1958, as amended, and the SBIC
September 3, 2015. As noted in the third
through. The first exception provides program regulations prohibit an SBIC
Federal Register notice, the Agencies’
conditions under which an SBIC may from making passive investments. The
will take comment on all of our
structure an investment through up to implementing regulation at 13 CFR
regulations issued in final form up to
two levels of passive entities to make an 107.720(b) defines a business as passive
the date that we publish the last investment in a non-passive business
EGRPRA notice for public comment. In if: (1) It is not engaged in a regular and
that is a subsidiary of the passive continuous business operation; (2) its
the third notice, we published an business directly financed by the SBIC.
additional chart, listing the rules employees do not carry on the majority
The second exception enables a of day-to-day operations, and the
included in the review that had not partnership SBIC, with SBA’s prior
been reflected in prior charts. Before the company does not exercise day-to-day
approval, to provide financing to a small control and supervision over contract
end of the year, the Agencies intend to business through a passive, wholly-
issue the final Federal Register notice, workers; or (3) the business passes
owned C corporation, but only if a through substantially all financing
requesting comment on regulations in direct financing would cause the SBIC’s proceeds to another entity.
the last three categories—Rules of investors to incur Unrelated Business The current regulation provides for
Procedure; Safety and Soundness; and Taxable Income (UBTI). A passive C two exceptions that allow an SBIC to
Securities, as well as on any other final corporation formed under the second structure an investment utilizing a
rules not covered by one of the prior exception is commonly known as a passive small business as a pass-
Federal Register notices. blocker corporation. This proposed rule through. The first exception, identified
Dated: September 25, 2015. would clarify the first exception, and in § 107.720(b)(2), permits an
would expand the permitted use of investment utilizing up to two passive
Thomas J. Curry,
blocker corporations and eliminate the entities, as long as substantially all of
Comptroller of the Currency. prior approval requirement in the the financing proceeds are passed
By order of the Board of Governors of the second exception. The rule also through to one or more active
mstockstill on DSK4VPTVN1PROD with PROPOSALS
Federal Reserve System, September 28, 2015. proposes to add new reporting and other ‘‘subsidiary companies,’’ each of which
Robert deV. Frierson, requirements for passive investments to is an eligible small business. The
Secretary of the Board. help protect SBA’s financial interests regulation defines a subsidiary company
Dated: September 29, 2015.
and ensure adequate oversight and make as one in which the financed passive
minor technical amendments. business directly or indirectly owns at
2 79 FR 32172. DATES: Comments on the proposed rule least 50% of the outstanding voting
3 80 FR 7980. must be received on or before December securities. As an example, this
4 80 FR 32046. 4, 2015. exception allows an SBIC to finance
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Document Created: 2015-12-15 08:52:52
Document Modified: 2015-12-15 08:52:52
| 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 | Proposed Rules | |
| Action | Notice of outreach meeting. | |
| Dates | An outreach meeting will be held in Chicago, Illinois on Monday, October 19, 2015, beginning at 9:00 a.m. Central Daylight Time (CDT). Online registrations will be accepted through October 13, 2015, or until all seats are filled, whichever is earlier. If seats are available after the close of online registration, individuals may register in person at the Federal Reserve Bank of Chicago on the day of the meeting. The sixth outreach meeting is scheduled for December 2, 2015, in the Washington, DC, area. | |
| Contact | OCC: Heidi M. Thomas, Special Counsel, (202) 649-5490; for persons who are deaf or hard of hearing, TTY (202) 649-5597. | |
| FR Citation | 80 FR 60075 | |
| CFR Citation | 12 Title 12 CFR Chapter I 12 Title 12 CFR Chapter II 12 Title 12 CFR Chapter III |
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