Municipal Securities Dealers and Government Securities Brokers and Dealers Registration and Withdrawal

Section 15B and section 15C of the Securities Exchange Act of 1934 (the “Exchange Act”) require, in part, that all national banks and federal savings associations (“FSAs”) that act as a municipal securities dealer or a government securities broker/dealer, respectively, file the relevant form with the appropriate regulatory agency to inform such agency of their broker/dealer activities. This information collection is required to satisfy the requirements of the Exchange Act. National banks and FSAs planning to engage in broker/dealer activities must file the required forms before beginning these activities. The OCC proposes to revise Form MSD-4 and Form MSD-5 to (1) remove the date of birth and place of birth items from the ‘Personal History of the Applicant’ section from the Form MSD-4 report form and instructions and (2) include the OCC’s Privacy Act notice on the respective Form MSD-4 and Form MSD-5. The proposed revisions would be effective June 1, 2019. The date of birth and place of birth data fields are considered personally identifiable information (PII). The OCC generally does not need the information in these fields in order to perform its supervisory responsibilities regarding the review applications to become municipal securities principals or representatives but could obtain this information on a case-by-case basis, when needed. The OCC is making an effort to remove PII from its supervisory reports if that PII is not critical to fulfilling its supervisory responsibilities. Non-substantive changes are being made to the G-FIN and G-FINW forms to clarify where to file, the number of copies to file, and to generally update the forms and instructions.

The latest form for Municipal Securities Dealers and Government Securities Brokers and Dealers Registration and Withdrawal expires 2022-09-30 and can be found here.