Reporting, Recordkeeping, and Disclosure Requirements Associated with Regulation VV (Proprietary Trading and Certain Interests in and Relationships with Covered Funds)

Forms and Documents

Document Name	Status
RegVV_20140611_omb.pdf Supporting Statement A	2014-06-11
RegVV_20140131_ffr.pdf Supplementary Document	2014-04-28
RegVV_20120103_ifr.pdf Supplementary Document	2014-04-28
RegVV_20111107_ifr.pdf Supplementary Document	2014-04-28

IC Document Collections

IC ID	Document Title	Status
211445	Ongoing Disclosure - Section 248.11(a)(8)(i)	New
211444	Ongoing Recordkeeping - Section 248.20(f)(2)	New
211443	Ongoing Recordkeeping - Section 248.20(f)(1)	New
211442	Ongoing Recordkeeping - Section 248.20(e)	New
211441	Ongoing Recordkeeping - Section 248.20(d) ($10-$50 billion)	New
211440	Ongoing Recordkeeping - Section 248.20(d) ($50 billion)	New
211439	Ongoing Recordkeeping - Section 248.20(c)	New
211438	Ongoing Recordkeeping - Section 248.20(b)	New
211437	Ongoing Recordkeeping - Section 248.11(a)(2)	New
211436	Ongoing Recordkeeping - Section 248.5(c)	New
211435	Ongoing Recordkeeping - Section 248.4(b)(3)(i)(A)	New
211434	Ongoing Recordkeeping - Section 248.3(d)(3)	New
211433	Ongoing Reporting - Section 248.20(d) ($10-$50 billion)	New
211432	Ongoing Reporting - Section 248.20(d) ($50 billion)	New
211431	Ongoing Reporting - Section 248.12(e)	New
211429	Initial Disclosure - Section 248.11(a)(8)(i)	New
211428	Initial Recordkeeping - Section 248.20(f)(2)	New
211427	Initial Recordkeeping - Section 248.20(f)(1)	New
211426	Initial Recordkeeping - Section 248.20(e)	New
211424	Initial Recordkeeping - Section 248.20(d) ($10-50 billion)	New
211423	Initial Recordkeeping - Section 248.20(d) ($50 billion)	New
211421	Initial Recordkeeping - Section 248.20(c)	New
211420	Initial Recordkeeping - Section 248.20(b)	New
211419	Initial Recordkeeping - Section 248.11(a)(2)	New
211418	Initial Recordkeeping - Section 248.5(c)	New
211417	Initial Recordkeeping - Section 248.4(b)(3)(i)(A)	New
211416	Initial Recordkeeping - Section 248.3(d)(3)	New
211415	Initial Reporting - Section 248.20(d) ($10-$50 Billion)	New
211414	Initial Reporting - Section 248.20(d) ($50 billion)	New
211407	Initial Reporting - Section 248.12(e)	New

ICR Details

OMB Control No: 7100-0360	ICR Reference No: 201404-7100-006
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: FRS	Agency Tracking No: Reg VV
Title: Reporting, Recordkeeping, and Disclosure Requirements Associated with Regulation VV (Proprietary Trading and Certain Interests in and Relationships with Covered Funds)
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 06/12/2014
	Date Received in OIRA: 06/12/2014
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2017	36 Months From Approved
Responses	387,871	0	0
Time Burden (Hours)	2,336,190	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The Federal Reserve, the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), the Commodity Futures Trading Commission (CFTC), and the Securities and Exchange Commission (SEC) (collectively, the agencies) have adopted a final rule that would implement section 13 of the Bank Holding Company Act of 1956 (BHC Act), which was added by section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Section 13 contains certain prohibitions and restrictions on the ability of a banking entity supervised by the agencies to engage in proprietary trading and have certain interests in, or relationships with, a hedge fund or private equity fund.

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Authorizing Statute(s): US Code: 12 USC 1851(e)(1) Name of Law: Bank Holding Company Act
   US Code: 5 USC 552(b)(4) Name of Law: Freedom of Information Act
   US Code: 12 USC 1851(b)(2) Name of Law: Bank Holding Company Act
   US Code: 5 USC 552(b)(8) Name of Law: Freedom of Information 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:
7100-AD82	Final or interim final rulemaking	79 FR 5535	01/31/2014

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 68846	11/07/2011
30-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 5535	01/31/2014
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 30

IC Title	Form No.	Form Name
Initial Recordkeeping - Section 248.20(b)
Initial Recordkeeping - Section 248.20(c)
Initial Recordkeeping - Section 248.20(d) ($50 billion)
Initial Recordkeeping - Section 248.20(d) ($10-50 billion)
Initial Recordkeeping - Section 248.20(f)(1)
Initial Disclosure - Section 248.11(a)(8)(i)
Ongoing Recordkeeping - Section 248.20(c)
Ongoing Recordkeeping - Section 248.20(d) ($10-$50 billion)
Initial Reporting - Section 248.12(e)
Initial Recordkeeping - Section 248.3(d)(3)
Initial Recordkeeping - Section 248.4(b)(3)(i)(A)
Initial Recordkeeping - Section 248.5(c)
Initial Recordkeeping - Section 248.11(a)(2)
Ongoing Reporting - Section 248.12(e)
Ongoing Reporting - Section 248.20(d) ($50 billion)
Ongoing Recordkeeping - Section 248.20(d) ($50 billion)
Ongoing Disclosure - Section 248.11(a)(8)(i)
Initial Reporting - Section 248.20(d) ($50 billion)
Initial Reporting - Section 248.20(d) ($10-$50 Billion)
Initial Recordkeeping - Section 248.20(e)
Initial Recordkeeping - Section 248.20(f)(2)
Ongoing Reporting - Section 248.20(d) ($10-$50 billion)
Ongoing Recordkeeping - Section 248.3(d)(3)
Ongoing Recordkeeping - Section 248.4(b)(3)(i)(A)
Ongoing Recordkeeping - Section 248.5(c)
Ongoing Recordkeeping - Section 248.11(a)(2)
Ongoing Recordkeeping - Section 248.20(b)
Ongoing Recordkeeping - Section 248.20(e)
Ongoing Recordkeeping - Section 248.20(f)(1)
Ongoing Recordkeeping - Section 248.20(f)(2)

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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	387,871	0	387,871	0	0	0
Annual Time Burden (Hours)	2,336,190	0	2,336,190	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:

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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: 06/12/2014

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