Recordkeeping Requirements for Securities Transactions - 12 CFR Part 12 and 12 CFR Part 151

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
1557-0142Nonsub.change.doc	Justification for No Material/Nonsubstantive Change	Uploaded 2011-09-07	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
20043	Recordkeeping Requirements for Securities Transactions - 12 CFR Part 12		Modified

ICR Details

OMB Control No: 1557-0142	ICR Reference No: 201109-1557-001
Status: Historical Active	Previous ICR Reference No: 200902-1557-001
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: Recordkeeping Requirements for Securities Transactions - 12 CFR Part 12 and 12 CFR Part 151
Type of Information Collection: No material or nonsubstantive change to a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 09/22/2011
	Date Received in OIRA: 09/14/2011
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2012	05/31/2012	05/31/2012
Responses	2,833	0	2,004
Time Burden (Hours)	6,946	0	2,711
Cost Burden (Dollars)	0	0	0

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Abstract: The information requirements contained in 12 CFR Part 12 provide records relevant to the purchase or sale of securities transactions by national banks and national bank personnel. The recordkeeping requirements serve to establish an audit trail that is used by the OCC in its regulatory examinations. The OCC uses the information to evaluate a national bank's compliance with the anti-fraud provisions of the Federal securities laws. The records also provide a basis for adequate disclosure to customers.

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Authorizing Statute(s): US Code: 12 USC 93a Name of Law: The National Bank Act
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 124 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	74 FR 1762	01/13/2009
30-day Notice:	Federal Register Citation:	Citation Date:
	74 FR 13311	03/26/2009
Did the Agency receive public comments on this ICR? No

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

table that charts list of burden

IC Title	Form No.	Form Name
Recordkeeping Requirements for Securities Transactions - 12 CFR Part 12

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ICR Summary of Burden

table that charts list 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	2,833	2,004	829	0	0	0
Annual Time Burden (Hours)	6,946	2,711	4,235	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement: The increase in burden is due to the integration of the OTS with the OCC. The additional respondents are entities formerly regulated by the OTS. These recordkeeping requirements serve to establish an audit trail. That audit trail is used by the OCC in its regulatory examinations as a tool to evaluate a national bank's compliance with the anti-fraud provisions of the Federal securities laws. Further, the records provide a basis for adequate disclosure to customers who effect securities transactions through national banks.

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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]? No

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

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

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: 09/14/2011

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