IMPLEMENTING REGULATIONS: GOVERNMENT SECURITIES ACT OF 1986

Forms and Documents

Document Name	Status

No forms / supporting documents in this ICR. Check IC Document Collections.

IC Document Collections

IC ID	Document Title	Status
124551	IMPLEMENTING REGULATIONS: GOVERNMENT SECURITIES ACT OF 1986	Migrated

ICR Details

OMB Control No: 1505-0100	ICR Reference No: 198702-1505-002
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: TREAS/DO	Agency Tracking No:
Title: IMPLEMENTING REGULATIONS: GOVERNMENT SECURITIES ACT OF 1986
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/17/1987
	Date Received in OIRA: 02/17/1987
Terms of Clearance: APPROVED WITH THE FOLLOWING CONDITIONS: (1) THE DEPARTMENT MUST RESUBM THESE RECORDKEEPING AND REPORTING REQUIREMENTS FOR PAPERWORK REDUCTION ACT (PRA) REVIEW BY OMB WHEN THE RULE IS EFFECTIVE, INCLUDING A SUMMAR OF ALL PUBLIC COMMENTS RECEIVED ON THE REPORTING AND RECORDKEEPING REQUIREMENTS. (2) THE NOTIFICATION TO COUNTERPARTIES AND OTHER PAPERWO REQUIREMENTS PROPOSED AT 17 CFR 403.4(e) AND 403.5(d) ARE NOT APPROVED AS THEY ARE NOT THE LEAST BURDENSOME NECESSARY FOR THE PROPER PERFORMANCE OF THE AGENCY'S FUNCTIONS AS REQUIRED BY THE PRA AND ITS IMPLEMENTING REGULATION AT 5 CFR 1320.4(b). THE DEPARTMENT HAS NOT JUSTIFIED THE PRIOR AGREEMENT NOTIFICATION REQUIREMENT, NOR HAS IT JUSTIFIED THE UTILITY OF A $5,000,000 THRESHOLD. IN ADDITION, THE DEPARTMENT HAS NOT STATED HOW BROKER/DEALERS ARE TO ACCOMPLISH CONTINIOUS AGGREGATIONS, AS THE RULE SEEMS TO REQUIRE. THE LEAST BURDENSOME METHOD FOR ENSURING THE DEPARTMENT'S FUNCTION (OF ADEQUATE CUSTOMER PROTECTION) WOULD APPEAR TO BE REQUIRING DISCLOSURE UP FRONT (AND PERHAPS PERIODICALLY THEREAFTER) OF SUBSTITUTION PROCEDURES. (3) THE FORM G FIN 4 MUST BE REVISED TO DELETE THE REQUEST FOR EDUCATION INFORMATION (QUESTION 15), AS THIS INFORMATION LACKS PRACTICAL UTILITY (AS REQUIRED BY THE PRA AND ITS REGULATIONS AT 5 CFR 1320.4(b)) DUE TO THERE BEING NO EDUCATION QUALIFICATION REQUIRED TO REGISTER UNDER THE GOVERNMENT SECURITIES ACT.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/1988	04/30/1988
Responses	1	0	0
Time Burden (Hours)	1	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: THESE REGULATIONS REQUIRE GOVERNMENT SECURITIES BROKERS AND DEALERS TO MAKE AND KEEP RECORDS CONCERNING THEIR BUSINESS ACTIVITIES AND THEI HOLDINGS OF SECURITIES, AND TO SUBMIT FINANCIAL REPORTS. THE REGULATIO ARE DESIGNED TO ENHANCE INVESTOR PROTECTION. THE REGULATIONS ALSO REQUIRE DEPOSITORY INSTITUTIONS TO KEEP RECORDS CONCERNING NON-FIDUCIARY HOLDINGS OF GOVERNMENT SECURITIES FOR CUSTOMERS.

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Authorizing Statute(s): None

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
IMPLEMENTING REGULATIONS: GOVERNMENT SECURITIES ACT OF 1986

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ICR Summary of Burden

	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	1	0	0	1	0	0
Annual Time Burden (Hours)	1	0	0	1	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement:

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 02/17/1987

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