OMB files this comment in accordance with 5 CFR 1320.11( c ). This OMB action is not
an approval to conduct or sponsor an information collection under the Paperwork Reduction Act of
1995. This action has no effect on any current approvals. If OMB has assigned this ICR a new OMB
Control Number, the OMB Control Number will not appear in the active inventory. For future
submissions of this information collection, reference the OMB Control Number provided. Pursuant to
5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR). In
accordance with 5 CFR 1320, OMB is withholding approval at this time. The agency shall examine
public comment in response to the NPRM and will include in the supporting statement of the next
ICR--to be submitted to OMB at the final rule stage--a description of how the agency has responded
to any public comments on the ICR, including comments on maximizing the practical utility of the
collection and minimizing the burden. This action has no effect on any current approvals.
Inventory as of this Action
Requested
Previously Approved
07/31/2017
07/31/2017
07/31/2017
61
0
61
1,310
0
1,310
0
0
0
The information collections in parts 16 and 197 allow the OCC to perform its responsibilities relating to offerings of securities by providing the public with facts about the condition of a bank, the reasons for raising new capital, and the terms of securities offerings. The public uses the information to make informed decisions on whether securities are an appropriate investment.
Under the proposed rule, part 197 would be removed and Federal savings associations would follow part 16. In addition, § 16.5 would be amended to provide additional exemptions for private placements and sales of certain fractional interests. The periodic reports on sales of securities registered under part 197 would not be carried over to part 16. The filing requirement in § 197.8 would be removed and Federal savings associations with total assets exceeding $10,000,000 and a class of equity security (other than exempted security) held of record by 2,000 or more persons would be subject to Exchange Act periodic and current reporting requirements. Section 16.17 would reduce from four to one the number of copies that must be submitted of all registration statements, offering documents, amendments, notices, or other documents and from four to two the number of copies of amendments that must be submitted. In addition, the proposed rule will permit these documents to be signed electronically using the signature provision in SEC Rule 402.
The reduction in burden is due to the added exemptions, removal of reporting requirements, and the move to electronic filing.
$0
No
No
No
No
No
Uncollected
Michael Dugas 202 874-5210
No
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:
(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;
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.
1557-0120 2-22-16 3-3-16.doc
Securities Offering Disclosue Rules -- 12 CFR Part 16 and 12 CFR 167