Recordkeeping and Disclosure Requirements Associated with Securities Transactions Pursuant to Regulation H

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
FRH3_20180221_83c.pdf	Justification for No Material/Nonsubstantive Change	Uploaded 2018-02-21	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
36201	Recordkeeping - SMBs w/ Trust Depts (Securities transactions 208.34(c))		Unchanged
193339	Recordkeeping - SMBs (de novo) (Policy and procedures (208.34(g))		Modified
181520	Disclosure Burden SMBs w/o Trust Depts (Securities transactions (208.34(d)))		Modified
180969	Disclosure Burden SMBs w/ Trust Depts (Securities transactions (208.34(d)))		Modified
180968	Recordkeeping - SMBs w/o Trust Depts (Employee quarterly report (208.34(g)))		Modified
180967	Recordkeeping - SMBs w/o Trust Depts (Policies and procedures (208.34(g)))		Modified
180966	Recordkeeping - SMBs w/o Trust Depts (Securities transactions - Records (208.34(c)))		Modified
180965	Recordkeeping - SMBs w/ Trust Depts (Employee quarterly report (208.34(g)))		Unchanged
180964	Recordkeeping - SMBs w/ Trust Depts (Policy and procedures (208.34(g))		Unchanged

ICR Details

OMB Control No: 7100-0196	ICR Reference No: 201802-7100-005
Status: Historical Active	Previous ICR Reference No: 201404-7100-005
Agency/Subagency: FRS	Agency Tracking No: FR H-3
Title: Recordkeeping and Disclosure Requirements Associated with Securities Transactions Pursuant to Regulation H
Type of Information Collection: No material or nonsubstantive change to a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/21/2018
Retrieve Notice of Action (NOA)	Date Received in OIRA: 02/21/2018
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2018	07/31/2018	07/31/2018
Responses	33,161	0	33,723
Time Burden (Hours)	96,851	0	97,869
Cost Burden (Dollars)	0	0	0

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Abstract: These requirements are pursuant to sections 208.34(c), (d), and (g) of Regulation H, which require that state member banks effecting securities transactions for customers establish and maintain a system of records of these transactions, furnish confirmations of transactions to customers that disclose certain information, and establish written policies and procedures relating to securities trading. State member banks are required to maintain records created per these requirements for three years following a securities transaction. These requirements are necessary to protect the customer, to avoid or settle customer disputes, and to protect the institution against potential liability arising under the anti-fraud and insider trading provisions of the Securities Exchange Act of 1934 (Securities Exchange Act)

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Authorizing Statute(s): US Code: 15 USC 78w Name of Law: Securities Exchange Act
   US Code: 12 USC 321-328a Name of Law: Federal Reserve Act
  

Citations for New Statutory Requirements: None

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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:
	79 FR 21926	04/18/2014
30-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 42010	07/18/2014
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 9

table that charts list of burden

IC Title	Form No.	Form Name
Disclosure Burden SMBs w/ Trust Depts (Securities transactions (208.34(d)))
Disclosure Burden SMBs w/o Trust Depts (Securities transactions (208.34(d)))
Recordkeeping - SMBs (de novo) (Policy and procedures (208.34(g))
Recordkeeping - SMBs w/ Trust Depts (Employee quarterly report (208.34(g)))
Recordkeeping - SMBs w/ Trust Depts (Policy and procedures (208.34(g))
Recordkeeping - SMBs w/ Trust Depts (Securities transactions 208.34(c))
Recordkeeping - SMBs w/o Trust Depts (Employee quarterly report (208.34(g)))
Recordkeeping - SMBs w/o Trust Depts (Policies and procedures (208.34(g)))
Recordkeeping - SMBs w/o Trust Depts (Securities transactions - Records (208.34(c)))

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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	33,161	33,723	0	0	-562	0
Annual Time Burden (Hours)	96,851	97,869	0	0	-1,018	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 decrease in burden is due to an update of the respondent count.

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Annual Cost to Federal Government: $0

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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: 02/21/2018

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