Securities Offering Disclosure Rules

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
1557-0120 2-22-16 3-3-16.doc	Supporting Statement A	Uploaded 2016-03-03	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
20030	Securities Offering Disclosue Rules -- 12 CFR Part 16 and 12 CFR 167		Modified

ICR Details

OMB Control No: 1557-0120	ICR Reference No: 201601-1557-005
Status: Historical Inactive	Previous ICR Reference No: 201311-1557-003
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: Securities Offering Disclosure Rules
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule and continue	Conclusion Date: 05/10/2016
	Date Received in OIRA: 03/14/2016
Terms of Clearance: 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.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2017	07/31/2017	07/31/2017
Responses	61	0	61
Time Burden (Hours)	1,310	0	1,310
Cost Burden (Dollars)	0	0	0

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Abstract: 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.

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Authorizing Statute(s): US Code: 12 USC 1 et seq. Name of Law: National Bank Act
   US Code: 12 USC 1461 et seq. Name of Law: Homeowners' Loan Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1557-AD95	Proposed rulemaking	81 FR 13607	03/14/2016

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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

table that charts list of burden

IC Title	Form No.	Form Name
Securities Offering Disclosue Rules -- 12 CFR Part 16 and 12 CFR 167

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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: Yes

Burden Reduction Due to: Changing Regulations

Short Statement: The reduction in burden is due to the added exemptions, removal of reporting requirements, and the move to electronic filing.

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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]? No

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: 03/14/2016

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