Justification Memo 0022 Uniform Application and Termination Notice Municipal Securities

Federal Deposit Insurance Corporation

550 17th Street NW, Washington, D.C. 20429-9990

550 17th Street NW, Washington, D.C. 20429-9990

December 6, 2018

 

Memorandum to:        Shagufta Ahmed

                                    Policy Analyst 

                                    Office of Information and Regulatory Affairs

                                    Office of Management and Budget

 

From:                Manny Cabeza

Counsel

                                    Federal Deposit Insurance Corporation

 

RE: Non-Material Revisions to Interagency Form MSD-4: “Uniform Application for Municipal Securities Principal or Municipal Securities Representative Associated With a Bank Municipal Securities Dealer;” and Interagency Form MSD-5: “Uniform Termination Notice for Municipal Securities Principal or Municipal Securities Representative Associated With a Bank Municipal Securities Dealer.”

MSD-4 Form

The FDIC, the Office of the Controller of the Currency (OCC) and the Board of Governors of the Federal Reserve System (Board) all use the same Uniform Application for Municipal Securities Principal or Municipal Securities Representative Associated With a Bank Municipal Securities Dealer form (form MSD-4). An interagency workgroup recently revised the form to correct typographical errors; to add section headers and reposition certain questions to improve the flow of the form; and to implement features improving the functionality of the form as a vehicle for electronic completion. The revisions are fully detailed in the redlined version of the form uploaded to ROCIS herewith.

MSD-5 Form

The FDIC, the Office of the Controller of the Currency (OCC) and the Board of Governors of the Federal Reserve System (Board) all use the same Uniform Termination Notice for Municipal Securities Principal or Municipal Securities Representative Associated With a Bank Municipal Securities Dealer form (form MSD-5). An interagency workgroup recently revised the form to correct typographical errors; to add section headers and reposition certain questions to improve the flow of the form; and to implement features improving the functionality of the form as a vehicle for electronic completion. The revisions are fully detailed in the redlined version of the form uploaded to ROCIS herewith.

There is no change to the methodology or substance of the information collection and the reported FDIC burden for the information collection remains the same. The revisions are not substantive.