Notice by Financial Institutions of Government Securities Broker or Government Securities Dealer Activities; Notice by Financial Institutions of Termination of Activities as a Government Securities Br

ICR 201912-7100-021

OMB: 7100-0224

Federal Form Document

IC Document Collections
ICR Details
7100-0224 201912-7100-021
Active 201606-7100-004
FRS Form G-FIN; Form G-FINW
Notice by Financial Institutions of Government Securities Broker or Government Securities Dealer Activities; Notice by Financial Institutions of Termination of Activities as a Government Securities Br
Revision of a currently approved collection   No
Delegated
Approved without change 02/21/2020
Retrieve Notice of Action (NOA) 02/21/2020
  Inventory as of this Action Requested Previously Approved
02/28/2023 36 Months From Approved 02/29/2020
39 0 6
36 0 5
0 0 0

The Securities Exchange Act of 1934, as amended (the Act), requires financial institutions to notify their appropriate regulatory agency (ARA) prior to using the mails or any means or instrumentality of interstate commerce to engage in government securities broker or dealer activities, and to notify their ARA upon terminating such activities. The Board is the ARA for state member banks, foreign banks, uninsured state branches or state agencies of foreign banks, commercial lending companies owned or controlled by foreign banks, and Edge Act corporations (collectively, Board-regulated financial institutions). A Board-regulated financial institution must use Form G-FIN to register as a government securities broker or dealer or to amend a previously submitted Form G-FIN, and must use Form G-FINW to notify the Board of its termination of such activities.

US Code: 12 USC 3108 Name of Law: International Banking Act of 1978
   US Code: 12 USC 625 Name of Law: Federal Reserve Act
   US Code: 15 USC 78o-5(a)(1)(B)(i) Name of Law: Securities Exchange Act of 1934
   US Code: 12 USC 3106 Name of Law: International Banking Act of 1978
   US Code: 12 USC 1844(c) Name of Law: Bank Holding Company Act of 1956
   US Code: 15 USC 78o-5(a)(1)(B)(ii) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78o-5(b)(1) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78o-5(b)(1)(C) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78o-5(b)(3)(A) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78o-5(a)(1)(B) Name of Law: Securities Exchange Act of 1934
  
None

Not associated with rulemaking

  84 FR 45491 08/29/2019
84 FR 70542 12/23/2019
No

  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 39 6 0 33 0 0
Annual Time Burden (Hours) 36 5 0 31 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
Miscellaneous Actions
No
The estimated total annual burden for the Form G-FIN and Form G-FINW is 5 hours, and would increase to 36 hours with the adopted revisions. The estimated number of respondents is based on the average number of combined files received in the past three years. With regard to the Board’s recordkeeping requirement associated with Form G-FIN and Form G-FINW, only foreign banks, commercial lending companies owned or controlled by foreign banks, and Edge Act corporations are included as respondents. The recordkeeping requirement with regard to the financial institutions that file Form G-FIN and Form G-FINW with the Board is imposed by the Treasury. Therefore, the estimated total annual recordkeeping burden for Form G-FIN and Form G-FINW is diminutive.

$0
No
    Yes
    No
No
No
No
Uncollected
Kaitlin Chiarelli 571 372-4529 kaitlin.m.chiarelli.ctr@mail.mil

  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.
02/21/2020


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