81 FR 49356 - Agency Information Collection Activities: Information Collection Renewal; Comment Request; Guidance on Sound Incentive Compensation Practices
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency Federal Register Volume 81, Issue 144 (July 27, 2016)
Office of the Comptroller of the Currency
Federal Register Volume 81, Issue 144 (July 27, 2016)
| Page Range | 49356-49357 | |
| FR Document | 2016-17754 |
[Federal Register Volume 81, Number 144 (Wednesday, July 27, 2016)] [Notices] [Pages 49356-49357] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-17754] ======================================================================= ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Agency Information Collection Activities: Information Collection Renewal; Comment Request; Guidance on Sound Incentive Compensation Practices 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 comment on the renewal of an information collection as required by the Paperwork Reduction Act of 1995 (PRA). An agency may not conduct or sponsor, and a 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 renewal of an information collection titled, ``Guidance on Sound Incentive Compensation Practices.'' DATES: Written comments should be submitted by September 26, 2016. 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: 1557-0245, 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 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 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 include any information in your comment or supporting materials that you consider confidential or inappropriate for public disclosure. FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance Officer, (202) 649-5490 or, 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., Washington, DC 20219. SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), Federal agencies must obtain approval from 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 the PRA (44 U.S.C. 3506(c)(2)(A)) requires Federal agencies [[Page 49357]] 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 proposed collection of information set forth in this document. Title: Guidance on Sound Incentive Compensation Policies. OMB Number: 1557-0245. Abstract: Under the guidance, each national bank and Federal savings association is required to: (i) Have policies and procedures that identify and describe the role(s) of the personnel and units authorized to be involved in developing and administering incentive compensation arrangements, identify the source of significant risk- related factors, establish appropriate controls governing these factors to help ensure their reliability, and identify the individual(s) and unit(s) whose approval is necessary for the establishment or modification of incentive compensation arrangements; (ii) create and maintain sufficient documentation to permit an audit of the organization's processes for developing and administering incentive compensation arrangements; (iii) have any material exceptions or adjustments to the incentive compensation arrangements established for senior executives approved and documented by its board of directors; and (iv) have its board of directors receive and review, on an annual or more frequent basis, an assessment by management of the effectiveness of the design and operation of the organization's incentive compensation system in providing risk-taking incentives that are consistent with the organization's safety and soundness. Type of Review: Regular. Affected Public: Businesses or other for-profit. Estimated Number of Respondents: 41 large banks; 1,381 small banks. Estimated Burden per Respondent: 520 hours for large banks; 52 hours for small banks. Frequency of Response: Annually. Total Annual Burden: 93,132 hours. All comments will be considered in formulating the subsequent submission and 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 information collection burden; (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 startup costs and costs of operation, maintenance, and purchase of services to provide information. Dated: July 21, 2016. Karen Solomon, Deputy Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2016-17754 Filed 7-26-16; 8:45 am] BILLING CODE 4810-33-P
![49356 Federal Register / Vol. 81, No. 144 / Wednesday, July 27, 2016 / Notices
DEPARTMENT OF TRANSPORTATION New Jersey Avenue SE., Washington, An agency may not conduct or
DC, between 9 a.m. and 5 p.m., Monday sponsor, and a respondent is not
Federal Aviation Administration through Friday, except Federal holidays. required to respond to, an information
[Summary Notice No. 2016–87] FOR FURTHER INFORMATION CONTACT: For collection unless it displays a currently
technical questions concerning this valid Office of Management and Budget
Petition for Exemption; Summary of action, contact Nancy Lauck Claussen, (OMB) control number.
Petition Received Air Transportation Division, AFS–200, The OCC is soliciting comment
Federal Aviation Administration, 800 concerning renewal of an information
AGENCY: Federal Aviation collection titled, ‘‘Guidance on Sound
Independence Avenue SW.,
Administration (FAA), DOT. Incentive Compensation Practices.’’
Washington, DC 20591; telephone 202–
ACTION: Notice. 267–8166; email: nancy.l.claussen@ DATES: Written comments should be
faa.gov. submitted by September 26, 2016.
SUMMARY: This notice contains a ADDRESSES: Because paper mail in the
summary of a petition seeking relief This notice is published pursuant to
14 CFR 11.85. Washington, DC area and at the OCC is
from specified requirements of Title 14 subject to delay, commenters are
of the Code of Federal Regulations. The Issued in Washington, DC, on July 20,
2016. encouraged to submit comments by
purpose of this notice is to improve the email, if possible. Comments may be
public’s awareness of, and participation Lirio Liu,
sent to: Legislative and Regulatory
in, the FAA’s exemption process. Director, Office of Rulemaking.
Activities Division, Office of the
Neither publication of this notice nor Comptroller of the Currency, Attention:
Petition for Exemption
the inclusion or omission of information 1557–0245, 400 7th Street SW., Suite
in the summary is intended to affect the Docket No.: FAA–2016–8718
3E–218, Mail Stop 9W–11, Washington,
legal status of the petition or its final Section(s) of 14 CFR Affected: 14 CFR
DC 20219. In addition, comments may
disposition. Section 121.311
be sent by fax to (571) 465–4326 or by
Description of Relief Sought: The
DATES: Comments on this petition must electronic mail to prainfo@occ.treas.gov.
petitioner requests an exemption from
identify the petition docket number and You may personally inspect and
FAR 121.311 (a) and (b) to the extent
must be received on or before August 8, photocopy comments at the OCC, 400
required for conjoined twins to be able
2016. 7th Street SW., Washington, DC 20219.
to be held in their caregiver’s lap during
ADDRESSES: Send comments identified For security reasons, the OCC requires
all phases of flight while aboard an
by docket number FAA–2016–8718 that visitors make an appointment to
aircraft, even though they have reached
using any of the following methods: inspect comments. You may do so by
their second birthday. This exemption
• Federal eRulemaking Portal: Go to would generally provide an equivalent
calling (202) 649–6700 or, for persons
http://www.regulations.gov and follow who are deaf or hard of hearing, TTY,
level of safety to that of a single lap held
the online instructions for sending your (202) 649–5597. Upon arrival, visitors
infant who has not reached their second
comments electronically. will be required to present valid
birthday, because the combined weight
• Mail: Send comments to Docket of these twins does not exceed the 99th
government-issued photo identification
Operations, M–30; U.S. Department of and submit to security screening in
percentile for weight for an infant of
Transportation (DOT), 1200 New Jersey order to inspect and photocopy
only 23 months. Due to physical
Avenue SE., Room W12–140, West comments.
challenges, without an exemption, these
Building Ground Floor, Washington, DC All comments received, including
conjoined twins would be unable to fly
20590–0001. attachments and other supporting
onboard an aircraft.
• Hand Delivery or Courier: Take [FR Doc. 2016–17652 Filed 7–26–16; 8:45 am]
materials, are part of the public record
comments to Docket Operations in and subject to public disclosure. Do not
BILLING CODE 4910–13–P
Room W12–140 of the West Building include any information in your
Ground Floor at 1200 New Jersey comment or supporting materials that
Avenue SE., Washington, DC, between 9 you consider confidential or
a.m. and 5 p.m., Monday through DEPARTMENT OF THE TREASURY inappropriate for public disclosure.
Friday, except Federal holidays. FOR FURTHER INFORMATION CONTACT:
• Fax: Fax comments to Docket Office of the Comptroller of the Shaquita Merritt, OCC Clearance
Operations at 202–493–2251. Currency Officer, (202) 649–5490 or, for persons
Privacy: In accordance with 5 U.S.C. who are deaf or hard of hearing, TTY,
Agency Information Collection (202) 649–5597, Legislative and
553(c), DOT solicits comments from the
Activities: Information Collection Regulatory Activities Division, Office of
public to better inform its rulemaking
Renewal; Comment Request; Guidance the Comptroller of the Currency, 400 7th
process. DOT posts these comments,
on Sound Incentive Compensation Street SW., Washington, DC 20219.
without edit, including any personal
Practices
information the commenter provides, to SUPPLEMENTARY INFORMATION: Under the
http://www.regulations.gov, as AGENCY: Office of the Comptroller of the PRA (44 U.S.C. 3501–3520), Federal
described in the system of records Currency (OCC), Treasury. agencies must obtain approval from
notice (DOT/ALL–14 FDMS), which can ACTION: Notice and request for comment. OMB for each collection of information
be reviewed at http://www.dot.gov/ that they conduct or sponsor.
privacy. SUMMARY: The OCC, as part of its ‘‘Collection of information’’ is defined
sradovich on DSK3GMQ082PROD with NOTICES
Docket: Background documents or continuing effort to reduce paperwork in 44 U.S.C. 3502(3) and 5 CFR
comments received may be read at and respondent burden, invites the 1320.3(c) to include agency requests or
http://www.regulations.gov at any time. general public and other Federal requirements that members of the public
Follow the online instructions for agencies to comment on the renewal of submit reports, keep records, or provide
accessing the docket or go to the Docket an information collection as required by information to a third party. Section
Operations in Room W12–140 of the the Paperwork Reduction Act of 1995 3506(c)(2)(A) of the PRA (44 U.S.C.
West Building Ground Floor at 1200 (PRA). 3506(c)(2)(A)) requires Federal agencies
VerDate Sep<11>2014 17:50 Jul 26, 2016 Jkt 238001 PO 00000 Frm 00149 Fmt 4703 Sfmt 4703 E:\FR\FM\27JYN1.SGM 27JYN1](https://thefederalregister.org/doc/81_FR_49500/page/1.svg)
![Federal Register / Vol. 81, No. 144 / Wednesday, July 27, 2016 / Notices 49357
to provide a 60-day notice in the (b) The accuracy of the OCC’s OMB Number: 1545–0956.
Federal Register concerning each estimate of the information collection Form Number: 5500–EZ.
proposed collection of information, burden; Abstract: Form 5500–EZ is an annual
including each proposed extension of an (c) Ways to enhance the quality, return filed by a one-participant or one-
existing collection of information, utility, and clarity of the information to participant and spouse pension plan.
before submitting the collection to OMB be collected; The IRS uses this data to determine if
for approval. To comply with this (d) Ways to minimize the burden of
the plan appears to be operating
requirement, the OCC is publishing the collection on respondents, including
properly as required under the Internal
notice of the proposed collection of through the use of automated collection
Revenue Code or whether the plan
information set forth in this document. techniques or other forms of information
should be audited.
Title: Guidance on Sound Incentive technology; and
(e) Estimates of capital or startup costs Current Actions: There are no changes
Compensation Policies. being made to the form at this time.
and costs of operation, maintenance,
OMB Number: 1557–0245. and purchase of services to provide Type of Review: Extension of a
Abstract: Under the guidance, each information. currently approved collection.
national bank and Federal savings Affected Public: Business or other for-
association is required to: (i) Have Dated: July 21, 2016.
Karen Solomon, profit organizations, and farms.
policies and procedures that identify
Deputy Chief Counsel, Office of the Estimated Number of Respondents:
and describe the role(s) of the personnel
Comptroller of the Currency. 250,000.
and units authorized to be involved in
developing and administering incentive [FR Doc. 2016–17754 Filed 7–26–16; 8:45 am] Estimated Time per Respondent: 27
compensation arrangements, identify BILLING CODE 4810–33–P hours, 5 minutes.
the source of significant risk-related Estimated Total Annual Burden
factors, establish appropriate controls Hours: 7,005,000.
governing these factors to help ensure DEPARTMENT OF THE TREASURY The following paragraph applies to all
their reliability, and identify the of the collections of information covered
Internal Revenue Service
individual(s) and unit(s) whose by this notice:
approval is necessary for the Proposed Collection; Comment An agency may not conduct or
establishment or modification of Request for Form 5500–EZ sponsor, and a person is not required to
incentive compensation arrangements; respond to, a collection of information
(ii) create and maintain sufficient AGENCY: Internal Revenue Service (IRS), unless the collection of information
documentation to permit an audit of the Treasury. displays a valid OMB control number.
organization’s processes for developing ACTION: Notice and request for Books or records relating to a collection
and administering incentive comments. of information must be retained as long
compensation arrangements; (iii) have as their contents may become material
SUMMARY: The Department of the
any material exceptions or adjustments in the administration of any internal
Treasury, as part of its continuing effort
to the incentive compensation revenue law. Generally, tax returns and
to reduce paperwork and respondent
arrangements established for senior tax return information are confidential,
burden, invites the general public and
executives approved and documented as required by 26 U.S.C. 6103.
other Federal agencies to take this
by its board of directors; and (iv) have Request for Comments: Comments
opportunity to comment on proposed
its board of directors receive and submitted in response to this notice will
and/or continuing information
review, on an annual or more frequent be summarized and/or included in the
collections, as required by the
basis, an assessment by management of request for OMB approval. All
Paperwork Reduction Act of 1995,
the effectiveness of the design and comments will become a matter of
Public Law 104–13 (44 U.S.C.
operation of the organization’s incentive public record. Comments are invited on:
3506(c)(2)(A)). Currently, the IRS is
compensation system in providing risk- (a) Whether the collection of
soliciting comments concerning Form
taking incentives that are consistent information is necessary for the proper
5500–EZ, Annual Return of One-
with the organization’s safety and performance of the functions of the
Participant (Owners and Their Spouses)
soundness. agency, including whether the
Retirement Plan.
Type of Review: Regular. information shall have practical utility;
DATES: Written comments should be
Affected Public: Businesses or other received on or before September 26, (b) the accuracy of the agency’s estimate
for-profit. 2016 to be assured of consideration. of the burden of the collection of
Estimated Number of Respondents: 41 information; (c) ways to enhance the
ADDRESSES: Direct all written comments
large banks; 1,381 small banks. quality, utility, and clarity of the
to Tuawana Pinkston, Internal Revenue
Estimated Burden per Respondent: information to be collected; (d) ways to
Service, Room 6526, 1111 Constitution
520 hours for large banks; 52 hours for minimize the burden of the collection of
Avenue NW., Washington, DC 20224.
small banks. information on respondents, including
FOR FURTHER INFORMATION CONTACT: through the use of automated collection
Frequency of Response: Annually. Requests for additional information or techniques or other forms of information
Total Annual Burden: 93,132 hours. copies of the form and instructions technology; and (e) estimates of capital
All comments will be considered in should be directed to Allan Hopkins, at or start-up costs and costs of operation,
formulating the subsequent submission Internal Revenue Service, Room 6129,
sradovich on DSK3GMQ082PROD with NOTICES
maintenance, and purchase of services
and become a matter of public record. 1111 Constitution Avenue NW., to provide information.
Comments are invited on: Washington, DC 20224, or through the
(a) Whether the collection of Internet at Allan.M.Hopkins@irs.gov. Approved: July 21, 2016.
information is necessary for the proper SUPPLEMENTARY INFORMATION:
Allan Hopkins,
performance of the functions of the Title: Annual Return of One- Tax Analyst.
OCC, including whether the information Participant (Owners and Their Spouses) [FR Doc. 2016–17763 Filed 7–26–16; 8:45 am]
has practical utility; Retirement Plan. BILLING CODE 4830–01–P
VerDate Sep<11>2014 17:50 Jul 26, 2016 Jkt 238001 PO 00000 Frm 00150 Fmt 4703 Sfmt 9990 E:\FR\FM\27JYN1.SGM 27JYN1](https://thefederalregister.org/doc/81_FR_49500/page/2.svg)
Document Created: 2018-02-08 08:02:48
Document Modified: 2018-02-08 08:02:48
| 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 | Written comments should be submitted by September 26, 2016. | |
| Contact | Shaquita Merritt, OCC Clearance Officer, (202) 649-5490 or, 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., Washington, DC 20219. | |
| FR Citation | 81 FR 49356 |
2025 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR