Securities Offering Disclosure Rules

ICR 201608-1557-009

OMB: 1557-0120

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2016-08-30
IC Document Collections
ICR Details
1557-0120 201608-1557-009
Historical Active 201601-1557-005
TREAS/OCC
Securities Offering Disclosure Rules
Revision of a currently approved collection   No
Regular
Approved without change 04/03/2017
Retrieve Notice of Action (NOA) 01/23/2017
  Inventory as of this Action Requested Previously Approved
04/30/2020 36 Months From Approved 07/31/2017
37 0 61
814 0 1,310
0 0 0

The information collections in parts 16 and 197 allow the OCC to perform its responsibilities relating to offerings of securities by providing the public with facts about the condition of a bank, the reasons for raising new capital, and the terms of securities offerings. The public uses the information to make informed decisions on whether securities are an appropriate investment. Under the final rule, part 197 is removed and Federal savings associations will follow part 16. In addition, § 16.5 is amended to provide additional exemptions for private placements and sales of certain fractional interests. The periodic reports on sales of securities registered under part 197 is not be carried over to part 16. The filing requirement in § 197.8 are removed and Federal savings associations with total assets exceeding $10,000,000 and a class of equity security (other than exempted security) held of record by 2,000 or more persons are subject to Exchange Act periodic and current reporting requirements. Section 16.17 reduces from four to one the number of copies that must be submitted of all registration statements, offering documents, amendments, notices, or other documents and from four to two the number of copies of amendments that must be submitted. In addition, the final rule permits these documents to be signed electronically using the signature provision in SEC Rule 402. The OCC submitted the information collection requirements imposed by the final rule to OMB at the proposed rule stage, 81 FR 13607 (March 14, 2016). OMB filed a comment, instructing the OCC to examine public comment in response to the proposed rule and include in the supporting statement of the next submission, to be submitted to OMB at the final rule stage, a description of how the OCC has responded to any public comments on the collection, including comments on maximizing the practical utility of the collection and minimizing the burden. The OCC received no comments regarding the information collection and has resubmitted it to OMB for review in connection with the final rule.

US Code: 12 USC 1 et seq. Name of Law: National Bank Act
   US Code: 12 USC 1461 et seq. Name of Law: Homeowners' Loan Act
  
None

1557-AD95 Final or interim final rulemaking 82 FR 8082 01/23/2017

No

1
IC Title Form No. Form Name
Securities Offering Disclosue Rules -- 12 CFR Part 16 and 12 CFR 167

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 37 61 0 -24 0 0
Annual Time Burden (Hours) 814 1,310 0 -496 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
Yes
Changing Regulations
The reduction in burden is due to additional exemptions, reduction in number of filing copies, and the move to electronic signatures.

$0
No
No
No
No
No
Uncollected
Michael Dugas 202 874-5210

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
01/23/2017


© 2024 OMB.report | Privacy Policy