81 FR 56753 - Agency Information Collection Activities: Information Collection Revision; Submission for OMB Review; Uniform Interagency Transfer Agent Registration and Amendment Form
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency Federal Register Volume 81, Issue 162 (August 22, 2016)
Office of the Comptroller of the Currency
Federal Register Volume 81, Issue 162 (August 22, 2016)
| Page Range | 56753-56754 | |
| FR Document | 2016-19956 |
[Federal Register Volume 81, Number 162 (Monday, August 22, 2016)] [Notices] [Pages 56753-56754] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-19956] ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Agency Information Collection Activities: Information Collection Revision; Submission for OMB Review; Uniform Interagency Transfer Agent Registration and Amendment Form 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 revision 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 on a revision to its collection titled ``Uniform Transfer Agency Registration and Amendment Form.'' The OCC also is giving notice that it has sent the collection to OMB for review. DATES: Comments must be submitted on or before September 21, 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 ``1557-0124, Form TA-1,'' 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 comments or supporting materials that you consider confidential or inappropriate for public disclosure. Additionally, please send a copy of your comments by mail to: OCC Desk Officer, 1557-0124, U.S. Office of Management and Budget, New Executive Office Building, Room 10235, 725 17th Street NW., Washington, DC 20503; by fax to 202-395-6974; or by email to [email protected]. 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. In addition, copies of the current Form TA-1 reporting form and instructions can be obtained at the Federal Financial Institutions Examination Council Web site (http://www.ffiec.gov/ffiec_report_forms.htm). SUPPLEMENTARY INFORMATION: The OCC is proposing to revise the following information collection: Report Title: Uniform Interagency Transfer Agent Registration and Amendment Form. Form Number: Form TA-1. Frequency of Response: On occasion. Affected Public: National banks and their subsidiaries, federal savings associations and their subsidiaries. OMB Control No.: 1557-0124. Estimated Number of Respondents: registrations: 1; amendments: 10. Estimated Average Time per Response: registrations: 1.25 hours; amendments: 10 minutes. Estimated Total Annual Burden: 3 hours. General Description of Report Section 17A(c) of the Security Exchange Act of 1934 (the Act) requires all transfer agents for securities registered under section 12 of the Act or, if the security would be required to be registered except for the exemption from registration provided by section 12(g)(2)(B) or section 12(g)(2)(G), to ``fil[e] with the appropriate regulatory agency . . . an application for registration in such form and containing such information and documents . . . as such appropriate regulatory agency may prescribe as necessary or appropriate in furtherance of the purposes of this section.'' \1\ In general, an entity performing transfer agent functions for a security is required to register with its appropriate regulatory agency (``ARA'') if the security is registered on a national securities exchange or if the issuer of the security has total assets exceeding $10 million and a class of equity security held of record by 2,000 persons or, for an issuer that is not a bank, BHC, or SLHC, by 500 persons who are not accredited investors.\2\ The OCC's 12 CFR 9.20 implements these provisions of the Act. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78q-1. \2\ 15 U.S.C. 78l(g)(1). --------------------------------------------------------------------------- To accomplish the registration of transfer agents, Form TA-1 was developed in 1975 as an interagency effort by the Securities and Exchange Commission (SEC) and the Federal banking agencies (the OCC, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation). The agencies primarily use the data collected on Form TA-1 to determine whether an application for registration should be approved, denied, accelerated, or postponed, and they use the data in connection with their supervisory responsibilities. Current Actions The OCC proposes to revise the reporting instructions for Form TA- 1. The proposed revisions remove outdated references to the OTS, clarify the definition of a ``qualifying security'' pursuant to statutory changes, alter the number of Form TA-1 copies that registrants are required to file with their ARA, and make other minor instructional clarifications. The OCC currently requires the filing of an original plus two copies of any registration or amendment. The proposed change is to require the filing of only the original. Pursuant to statutory changes,\3\ the definition of a ``qualifying security'' was altered to include securities registered on a national securities exchange pursuant to section 12(b) of the Act, as well as equity securities registered pursuant to section 12(g)(1) of the Act for issuers that have: --------------------------------------------------------------------------- \3\ See Fixing America's Surface Transportation Act section 85001, Pub. L. 114-94, 129 Stat. 1312, 1797 (2010), amending 15 U.S.C. 78a et seq; Jumpstart Our Business Startups Act section 501, Pub. L. 112-106, 126 Stat. 306, 325 (2012), amending 15 U.S.C. 78l(g)(1)(A). --------------------------------------------------------------------------- (a) Total assets exceeding $10 million and a class of equity security (other than an exempted security) held of record by either 2,000 persons, or 500 persons [[Page 56754]] who are not accredited investors (as such term is defined by the SEC); and (b) In the case of an issuer that is a bank, a savings and loan holding company (as defined in section 10 of the Home Owners' Loan Act), or a bank holding company, as such term is defined in section 2 of the Bank Holding Company Act of 1956 (12 U.S.C. 1841), has total assets exceeding $10 million and a class of equity security (other than an exempted security) held of record by 2,000 or more persons. Legal Basis for the Information Collection The OCC has determined that Form TA-1 is mandatory and that its collection is authorized by sections 17A(c), 17(a)(3), and 23(a)(1) of the Act, as amended (15 U.S.C. 78q-1(c), 78q(a)(3), and 78w(a)(1)). Additionally, section 3(a)(34)(B) of the Act (15 U.S.C. 78c(a)(34)(B)(ii)) provides that the OCC is the ARA in the case of a national banks and insured Federal savings associations and subsidiaries of such institutions. The registrations are public filings and are not considered confidential. The OCC needs the information contained in this collection to fulfill its statutory responsibilities. Section 17A(c) of the Act (15 U.S.C. 78q-1(c)), as amended, provides that all those authorized to transfer securities registered under section 12 of the Act (transfer agents) shall register ``by filing with the appropriate regulatory agency . . . an application for registration in such form and containing such information and documents . . . as such appropriate regulatory agency may prescribe to be necessary or appropriate in furtherance of the purposes of this section.'' Section 9.20 of the OCC's regulations (12 CFR 9.20) governs registration of transfer agents. Section 9.20(b) provides that SEC rules pursuant to section 17A of the Act, prescribing operational and reporting requirements for transfer agents, apply to the domestic activities of registered national bank transfer agents. Request for Comment On June 10, 2016, the Federal banking agencies published a notice concerning the collection for 60 days of comment, 81 FR 37665. No comments were received. Comments continue to be invited 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. Karen Solomon, Deputy Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2016-19956 Filed 8-19-16; 8:45 am] BILLING CODE 4810-33-P
![Federal Register / Vol. 81, No. 162 / Monday, August 22, 2016 / Notices 56753
‘‘FFIEC 041: Data Items Removed or and submit to security screening in furtherance of the purposes of this
Change in Reporting Threshold’’. order to inspect and photocopy section.’’ 1 In general, an entity
[FR Doc. C1–2016–19268 Filed 8–19–16; 8:45 am] comments. performing transfer agent functions for a
BILLING CODE 1505–01–D
All comments received, including security is required to register with its
attachments and other supporting appropriate regulatory agency (‘‘ARA’’)
materials, are part of the public record if the security is registered on a national
DEPARTMENT OF THE TREASURY and subject to public disclosure. Do not securities exchange or if the issuer of
include any information in your the security has total assets exceeding
Office of the Comptroller of the comments or supporting materials that $10 million and a class of equity
Currency you consider confidential or security held of record by 2,000 persons
inappropriate for public disclosure. or, for an issuer that is not a bank, BHC,
Agency Information Collection Additionally, please send a copy of or SLHC, by 500 persons who are not
Activities: Information Collection your comments by mail to: OCC Desk accredited investors.2 The OCC’s 12
Revision; Submission for OMB Officer, 1557–0124, U.S. Office of CFR 9.20 implements these provisions
Review; Uniform Interagency Transfer Management and Budget, New of the Act.
Agent Registration and Amendment Executive Office Building, Room 10235, To accomplish the registration of
Form 725 17th Street NW., Washington, DC transfer agents, Form TA–1 was
AGENCY: Office of the Comptroller of the 20503; by fax to 202–395–6974; or by developed in 1975 as an interagency
Currency (OCC), Treasury. email to oira_submission@omb.eop.gov. effort by the Securities and Exchange
ACTION: Notice and request for comment. FOR FURTHER INFORMATION CONTACT: Commission (SEC) and the Federal
Shaquita Merritt, OCC Clearance banking agencies (the OCC, the Board of
SUMMARY: The OCC, as part of its Officer, 202–649–5490 or, for persons Governors of the Federal Reserve
continuing effort to reduce paperwork who are deaf or hard of hearing, TTY, System, and the Federal Deposit
and respondent burden, invites the (202) 649–5597, Legislative and Insurance Corporation). The agencies
general public and other Federal Regulatory Activities Division, Office of primarily use the data collected on
agencies to comment on the revision of the Comptroller of the Currency, 400 7th Form TA–1 to determine whether an
an information collection, as required Street SW., Washington, DC 20219. In application for registration should be
by the Paperwork Reduction Act of 1995 addition, copies of the current Form approved, denied, accelerated, or
(PRA). TA–1 reporting form and instructions postponed, and they use the data in
An agency may not conduct or can be obtained at the Federal Financial connection with their supervisory
sponsor, and a respondent is not Institutions Examination Council Web responsibilities.
required to respond to, an information site (http://www.ffiec.gov/ffiec_report_
collection unless it displays a currently Current Actions
forms.htm).
valid Office of Management and Budget The OCC proposes to revise the
SUPPLEMENTARY INFORMATION: The OCC
(OMB) control number. reporting instructions for Form TA–1.
is proposing to revise the following
The OCC is soliciting comment on a The proposed revisions remove
information collection:
revision to its collection titled ‘‘Uniform outdated references to the OTS, clarify
Report Title: Uniform Interagency
Transfer Agency Registration and the definition of a ‘‘qualifying security’’
Transfer Agent Registration and
Amendment Form.’’ The OCC also is pursuant to statutory changes, alter the
Amendment Form.
giving notice that it has sent the number of Form TA–1 copies that
Form Number: Form TA–1.
collection to OMB for review. registrants are required to file with their
Frequency of Response: On occasion.
DATES: Comments must be submitted on Affected Public: National banks and ARA, and make other minor
or before September 21, 2016. their subsidiaries, federal savings instructional clarifications. The OCC
ADDRESSES: Because paper mail in the associations and their subsidiaries. currently requires the filing of an
Washington, DC, area and at the OCC is OMB Control No.: 1557–0124. original plus two copies of any
subject to delay, commenters are Estimated Number of Respondents: registration or amendment. The
encouraged to submit comments by registrations: 1; amendments: 10. proposed change is to require the filing
email, if possible. Comments may be Estimated Average Time per of only the original.
sent to: Legislative and Regulatory Response: registrations: 1.25 hours; Pursuant to statutory changes,3 the
Activities Division, Office of the amendments: 10 minutes. definition of a ‘‘qualifying security’’ was
Comptroller of the Currency, Attention Estimated Total Annual Burden: 3 altered to include securities registered
‘‘1557–0124, Form TA–1,’’ 400 7th hours. on a national securities exchange
Street SW., Suite 3E–218, Mail Stop pursuant to section 12(b) of the Act, as
9W–11, Washington, DC 20219. In General Description of Report well as equity securities registered
addition, comments may be sent by fax Section 17A(c) of the Security pursuant to section 12(g)(1) of the Act
to 571–465–4326 or by electronic mail Exchange Act of 1934 (the Act) requires for issuers that have:
to prainfo@occ.treas.gov. all transfer agents for securities (a) Total assets exceeding $10 million
You may personally inspect and registered under section 12 of the Act and a class of equity security (other than
photocopy comments at the OCC, 400 or, if the security would be required to an exempted security) held of record by
7th Street SW., Washington, DC 20219. be registered except for the exemption
asabaliauskas on DSK3SPTVN1PROD with NOTICES
either 2,000 persons, or 500 persons
For security reasons, the OCC requires from registration provided by section
that visitors make an appointment to 12(g)(2)(B) or section 12(g)(2)(G), to 1 15 U.S.C. 78q–1.
inspect comments. You may do so by ‘‘fil[e] with the appropriate regulatory 2 15 U.S.C. 78l(g)(1).
calling 202–649–6700 or, for persons agency . . . an application for 3 See Fixing America’s Surface Transportation
who are deaf or hard of hearing, TTY, registration in such form and containing Act section 85001, Pub. L. 114–94, 129 Stat. 1312,
1797 (2010), amending 15 U.S.C. 78a et seq;
(202) 649–5597. Upon arrival, visitors such information and documents . . . as Jumpstart Our Business Startups Act section 501,
will be required to present valid such appropriate regulatory agency may Pub. L. 112–106, 126 Stat. 306, 325 (2012),
government-issued photo identification prescribe as necessary or appropriate in amending 15 U.S.C. 78l(g)(1)(A).
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![56754 Federal Register / Vol. 81, No. 162 / Monday, August 22, 2016 / Notices
who are not accredited investors (as information collections, including the Form Number: FS Form 6314.
such term is defined by the SEC); and validity of the methodology and Abstract: This form is used when an
(b) In the case of an issuer that is a assumptions used; award holder wants to assign or transfer
bank, a savings and loan holding (c) Ways to enhance the quality, all or part of his/her award to another
company (as defined in section 10 of the utility, and clarity of the information to person. When this occurs, the award
Home Owners’ Loan Act), or a bank be collected; holder forfeits all future rights to the
holding company, as such term is (d) Ways to minimize the burden of portion assigned.
defined in section 2 of the Bank Holding information collections on respondents, Current Actions: Extension of a
Company Act of 1956 (12 U.S.C. 1841), including through the use of automated currently approved collection.
has total assets exceeding $10 million collection techniques or other forms of Type of Review: Regular.
and a class of equity security (other than information technology; and Affected Public: Individuals or
an exempted security) held of record by (e) Estimates of capital or start-up Households.
2,000 or more persons. costs and costs of operation, Estimated Number of Respondents:
maintenance, and purchase of services 150.
Legal Basis for the Information Estimated Time per Respondent: 30
Collection to provide information.
minutes.
The OCC has determined that Form Karen Solomon, Estimated Total Annual Burden
TA–1 is mandatory and that its Deputy Chief Counsel, Office of the Hours: 75.
collection is authorized by sections Comptroller of the Currency. Request for Comments: Comments
17A(c), 17(a)(3), and 23(a)(1) of the Act, [FR Doc. 2016–19956 Filed 8–19–16; 8:45 am] submitted in response to this notice will
as amended (15 U.S.C. 78q–1(c), BILLING CODE 4810–33–P be summarized and/or included in the
78q(a)(3), and 78w(a)(1)). Additionally, request for OMB approval. All
section 3(a)(34)(B) of the Act (15 U.S.C. comments will become a matter of
78c(a)(34)(B)(ii)) provides that the OCC DEPARTMENT OF THE TREASURY public record. Comments are invited on:
is the ARA in the case of a national (a) Whether the collection of
banks and insured Federal savings Bureau of the Fiscal Service information is necessary for the proper
associations and subsidiaries of such Proposed Collection of Information: performance of the functions of the
institutions. The registrations are public Assignment Form agency, including whether the
filings and are not considered information shall have practical utility;
confidential. Notice and request for
ACTION: (b) the accuracy of the agency’s estimate
The OCC needs the information comments. of the burden of the collection of
contained in this collection to fulfill its information; (c) ways to enhance the
statutory responsibilities. Section SUMMARY: The Department of the quality, utility, and clarity of the
17A(c) of the Act (15 U.S.C. 78q–1(c)), Treasury, as part of its continuing effort information to be collected; (d) ways to
as amended, provides that all those to reduce paperwork and respondent minimize the burden of the collection of
authorized to transfer securities burden, invites the general public and information on respondents, including
registered under section 12 of the Act other Federal agencies to take this through the use of automated collection
(transfer agents) shall register ‘‘by filing opportunity to comment on proposed techniques or other forms of information
with the appropriate regulatory agency and/or continuing information technology; and (e) estimates of capital
. . . an application for registration in collections, as required by the or start-up costs and costs of operation,
such form and containing such Paperwork Reduction Act of 1995, maintenance, and purchase of services
information and documents . . . as such Public Law 104–13 (44 U.S.C. to provide information.
appropriate regulatory agency may 3506(c)(2)(A)). Currently the Bureau of Dated: August 17, 2016.
prescribe to be necessary or appropriate the Fiscal Service within the
Bruce A. Sharp,
in furtherance of the purposes of this Department of the Treasury is soliciting
comments concerning the Assignment Bureau Clearance Officer.
section.’’ Section 9.20 of the OCC’s
regulations (12 CFR 9.20) governs Form. [FR Doc. 2016–19975 Filed 8–19–16; 8:45 am]
registration of transfer agents. Section DATES: Written comments should be
BILLING CODE 4810–AS–P
9.20(b) provides that SEC rules pursuant received on or before October 21, 2016
to section 17A of the Act, prescribing to be assured of consideration.
operational and reporting requirements DEPARTMENT OF THE TREASURY
ADDRESSES: Direct all written comments
for transfer agents, apply to the Bureau of the Fiscal Service
and requests for additional information
domestic activities of registered national
to Bureau of the Fiscal Service, Bruce A.
bank transfer agents. Proposed Collection of Information:
Sharp, 200 Third Street A4–A,
Request for Comment Parkersburg, WV 26106–1328, or Direct Deposit, Go Direct, and Direct
bruce.sharp@fiscal.treasury.gov. Express Sign-Up Forms
On June 10, 2016, the Federal banking
agencies published a notice concerning SUPPLEMENTARY INFORMATION: Notice and request for
ACTION:
the collection for 60 days of comment, Title: Assignment Form. comments.
81 FR 37665. No comments were OMB Number: 1530–0011.
Transfer of OMB Control Number: The SUMMARY: The Department of the
asabaliauskas on DSK3SPTVN1PROD with NOTICES
received. Comments continue to be
invited on: Financial Management Service (FMS) Treasury, as part of its continuing effort
(a) Whether the information and the Bureau of Public Debt (BPD) to reduce paperwork and respondent
collections are necessary for the proper have consolidated to become the Bureau burden, invites the general public and
performance of the OCC’s functions, of the Fiscal Service (Fiscal Service). other Federal agencies to take this
including whether the information has Information collection requests opportunity to comment on proposed
practical utility; previously held separately by FMS and and/or continuing information
(b) The accuracy of the OCC’s BPD will now be identified by a 1530 collections, as required by the
estimates of the burden of the prefix, designating Fiscal Service. Paperwork Reduction Act of 1995,
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Document Created: 2018-02-09 11:38:03
Document Modified: 2018-02-09 11:38:03
| 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 | Comments must be submitted on or before September 21, 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. In addition, copies of the current Form TA-1 reporting form and instructions can be obtained at the Federal Financial Institutions Examination Council Web site (http:// www.ffiec.gov/ffiec_report_forms.htm). | |
| FR Citation | 81 FR 56753 |
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