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
⚠️ Notice: This information collection may be outdated. More recent filings for OMB 7100-0224 can be found here:
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
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.
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.
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.