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
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.