82 FR 61566 - Agency Information Collection Activities: Proposed Collection Renewals; Comment Request (3064-0022 & -0027)

FEDERAL DEPOSIT INSURANCE CORPORATION

Federal Register Volume 82, Issue 248 (December 28, 2017)

The FDIC, 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 the renewal of existing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the FDIC is soliciting comment on renewal of the information collections described below.

[Federal Register Volume 82, Number 248 (Thursday, December 28, 2017)]
[Notices]
[Pages 61566-61567]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-28068]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Proposed Collection 
Renewals; Comment Request (3064-0022 & -0027)

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice and request for comment.

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SUMMARY: The FDIC, 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 the renewal of existing 
information collections, as required by the Paperwork Reduction Act of 
1995. Currently, the FDIC is soliciting comment on renewal of the 
information collections described below.

DATES: Comments must be submitted on or before February 26, 2018.

ADDRESSES: Interested parties are invited to submit written comments to 
the FDIC by any of the following methods:
     http://www.FDIC.gov/regulations/laws/federal/notices.html.
     Email: [email protected]. Include the name and number of 
the collection in the subject line of the message.
     Mail: Manny Cabeza (202-898-3767). Counsel, MB 3007, 
Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, 
DC 20429.
     Hand Delivery: Comments may be hand-delivered to the guard 
station at the rear of the 17th Street Building (located on F Street), 
on business days between 7:00 a.m. and 5:00 p.m.
    All comments should refer to the relevant OMB control number. A 
copy of the comments may also be submitted to the OMB desk officer for 
the FDIC: Office of Information and Regulatory Affairs, Office of 
Management and Budget, New Executive Office Building, Washington, DC 
20503.

FOR FURTHER INFORMATION CONTACT: Manny Cabeza (202-898-3767) at the 
FDIC address noted above.

SUPPLEMENTARY INFORMATION:
    Proposal to renew the following currently approved collections of 
information:
    1. Title: Uniform Application and Termination Notice for Municipal 
Securities Principal or Representative Associated with a Bank Municipal 
Securities Dealer.
    OMB Number: 3064-0022.
    Form Number: MSD-4 and MSD-5
    Affected Public: Individuals and Insured state nonmember banks and 
state savings associations.

[[Page 61567]]

    Burden Estimate:

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                                                                                                                           Average time      Estimated
             Source and burden type                 Number of               Annual  frequency                  Total       per response   annual  burden
                                                   respondents                                               responses       (minutes)        (hours)
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Form MSD-4 Reporting...........................               2  On Occasion............................               2              60               2
Form MSD-5 Reporting...........................               2  On Occasion............................               2              15             0.5
                                                                                                                                         ---------------
    Total Estimated Annual Burden..............  ..............  .......................................  ..............  ..............             2.5
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    There is no change in the method or substance of the collection. 
The overall reduction in burden hours is a result of economic 
fluctuation. In particular, the number of respondents has decreased 
while the reporting frequency and the estimated time per response 
remain the same.
    General Description of Collection: The 1975 Amendments to the 
Securities Exchange Act of 1934 established a comprehensive framework 
for the regulation of the activities of municipal securities dealers. 
Under Section 15B(a) of the Securities Exchange Act, municipal 
securities dealers which are banks, or separately identifiable 
departments or divisions of banks engaging in municipal securities 
activities, are required to be registered with the Securities and 
Exchange Commission in accordance with such rules as the Municipal 
Securities Rulemaking Board (MSRB), a rulemaking authority established 
by the 1975 Amendments, may prescribe as necessary or appropriate in 
the public interest or for the protection of investors.
    One of the areas in which the Act directed the MSRB to promulgate 
rules is the qualifications of persons associated with municipal 
securities dealers as municipal securities principals and municipal 
securities representatives. The MSRB Rules require persons who are or 
seek to be associated with municipal securities dealers as municipal 
securities principals or municipal securities representatives to 
provide certain background information and conversely, require the 
municipal securities dealers to obtain the information from such 
persons. Generally, the information required to be furnished relates to 
employment history and professional background including any 
disciplinary sanctions and any claimed bases for exemption from MSRB 
examination requirements.
    The FDIC and the other two Federal bank regulatory agencies, the 
Comptroller of the Currency, and the Federal Reserve Board, have 
prescribed Forms MSD-4 to satisfy these requirements and have 
prescribed Form MSD-5 for notification by a bank municipal securities 
dealer that a municipal securities principal's or a municipal 
securities representative's association with the dealer has terminated 
and the reason for such termination. State nonmember banks and state 
savings associations that are municipal security dealers submit these 
forms, as applicable, to the FDIC as their appropriate regulatory 
agency for each person associated with the dealer as a municipal 
securities principal or municipal securities representative.
    2. Title: Request for Deregistration for Registered Transfer 
Agents.
    OMB Number: 3064-0027
    Form Number: 6342/12
    Affected Public: Insured state nonmember banks and state savings 
associations.
    Burden Estimate:

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                                                                                                                                             Estimated
             Source and burden type                 Number of               Annual  frequency                  Total       Average time   annual  burden
                                                   respondents                                               responses     per response       (hours)
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Form 6342/12 Reporting.........................               1  On Occasion............................               1            0.42            0.42
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    There is no change in the method or substance of the collection. 
There is an overall reduction in burden hours which is the result of 
(1) economic fluctuation reflected by a decrease in the number of FDIC-
supervised institutions and (2) a decrease in the number of requests 
for deregistration of a registered transfer agent forms submitted to 
the FDIC.
    General Description of Collection: Under the Securities Exchange 
Act of 1934 (15 U.S.C. 78q-1), an insured nonmember bank (or a 
subsidiary of such a bank) that functions as a transfer agent may 
withdraw from registration as a transfer agent by filing a written 
notice of withdrawal with the FDIC. The FDIC requires such banks to 
file FDIC Form 6342/12 as the written notice of withdrawal.
    Request for Comment: Comments are invited on: (a) Whether the 
collections of information are necessary for the proper performance of 
the FDIC's functions, including whether the information has practical 
utility; (b) the accuracy of the 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; and (d) ways to minimize the burden 
of the collections of information on respondents, including through the 
use of automated collection techniques or other forms of information 
technology. All comments will become a matter of public record.

    Dated at Washington, DC, on December 22, 2017.

Federal Deposit Insurance Corporation.
Valerie J. Best,
Assistant Executive Secretary.
[FR Doc. 2017-28068 Filed 12-27-17; 8:45 am]
BILLING CODE 6714-01-P