FERC Form No. 520, (NOPR in RM18-15) Application for Authority to Hold Interlocking Directorate Positions

ICR 201808-1902-002

OMB: 1902-0083

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2018-08-13
Supplementary Document
2017-07-18
Supplementary Document
2017-07-18
Supplementary Document
2017-07-18
Supplementary Document
2017-07-18
IC Document Collections
ICR Details
1902-0083 201808-1902-002
Historical Inactive 201707-1902-002
FERC FERC-520
FERC Form No. 520, (NOPR in RM18-15) Application for Authority to Hold Interlocking Directorate Positions
Revision of a currently approved collection   No
Regular
Comment filed on proposed rule and continue 10/01/2018
Retrieve Notice of Action (NOA) 08/14/2018
In accordance with 5 CFR 1320, OMB is filing comment and withholding approval at this time. The agency shall examine public comment in response to the proposed rulemaking and will include in the supporting statement of the next ICR--to be submitted to OMB at the final rule stage--a description of how the agency has responded to any public comments on the ICR, including comments on maximizing the practical utility of the collection and minimizing the burden.
  Inventory as of this Action Requested Previously Approved
10/31/2020 36 Months From Approved 10/31/2020
716 0 716
4,850 0 4,850
0 0 0

The FERC-520 (Application for Authority to Hold Interlocking Directorate Positions) is an application requesting FERC authorization for board members of regulated electric utilities who plan to simultaneously hold positions on corporate boards of related or similar entities. This occurrence is known as an "interlocking directorate". Under the FPA, the holding of specific interlocking directorates is unlawful unless the Commission has authorized the interlocks to be held. Before assuming an interlocking position, an applicant must demonstrate that neither public nor private interests will be adversely affected by the interlocking position. The FERC-520 identifies the applicant and provides FERC with a list and information about any interlocking position the application requests authorization to hold. Additionally, the filing collects information related to the applicant's financial interests, other officer/directors of the firm that are involved, and the nature of business relationships among firms. NOPR in Docket RM18-15: The Commission proposes to revise parts 45 and 46 of its regulations related to interlocking officers and directors to clarify and update the requirements for both applicants and holders. In particular, the Commission proposes to update its regulations to reflect statutory changes to the circumstances in which an applicant who would otherwise require Commission authorization to hold an interlocking position need not do so. The Commission also proposes to revise its regulations to clarify its position on late-filed applications and informational reports. The Commission further proposes to revise its regulations to clarify that an interlock holder is not required to file a notice of change when merely changing positions within a holding company. Additionally, the Commission proposes to revise its regulations to state that applicants do not need to list in their applications public utilities that do not have officers or directors. Next, the Commission proposes to revise its regulations with regard to public utilities owned by a natural person.

US Code: 16 USC 825(d) Name of Law: Federal Power Act
  
None

1902-AF53 Proposed rulemaking 83 FR 40034 08/01/2018

No

1
IC Title Form No. Form Name
Application for Authority to Hold Interlocking Interlocking Directorate Positions

No
Yes
Changing Regulations
The Commission is proposing to revise its requirements and no longer require a notice of change when a person is merely changing positions within a holding company system. This proposal is expected to reduce the number of filed notices of change by 50 percent annually and to reduce the corresponding total burden.

$114,881
No
    No
    No
No
No
No
Uncollected
Amery Pore 202 502-7313 ext. 8026

  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.
08/14/2018


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