Recordkeeping and Confirmation Requirements for Securities Transactions

Forms and Documents

Document Name	Status
FR2 - 83 FR 46946 (Sept 17 2018).pdf Supplementary Document	2018-09-27
FR1 - 83 FR 24117 (May 24 2018).pdf Supplementary Document	2018-09-27
SPST-0134 2018 - 8-3-18.doc Supporting Statement A	2018-09-27

IC Document Collections

IC ID	Document Title	Status
31777	Recordkeeping and Confirmation Requirements for Securities Transactions - 344.4	Modified
233231	Officer/Employee Filing of Reports of Personal Securities Trading Transactions - 344.9 (assumes 5 officers/employees at each institution with income from securities broker activity)	New
233230	Provide Customer with Copy of Broker/Dealer Confirmation and Remuneration Received OR Written Notification or Alternative Notification - 344.5 and 344.6	New
233229	Maintain Securities Trading Policies and Procedures - 344.8	New

ICR Details

OMB Control No: 3064-0028	ICR Reference No: 201804-3064-004
Status: Active	Previous ICR Reference No: 201505-3064-004
Agency/Subagency: FDIC	Agency Tracking No: 3064-0028
Title: Recordkeeping and Confirmation Requirements for Securities Transactions
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 11/27/2018
	Date Received in OIRA: 09/28/2018
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2021	36 Months From Approved	11/30/2018
Responses	38,080	0	4,080
Time Burden (Hours)	65,280	0	113,872
Cost Burden (Dollars)	0	0	0

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Abstract: The collection of information requirements are contained in 12 CFR Part 344. The purpose of the regulation is to ensure that purchasers of securities in transactions affected by insured state nonmember banks are provided with adequate records concerning the transactions. The regulation is also designed to ensure that insured state nonmember banks maintain adequate records and controls with respect to the securities transactions they effect. Finally, this regulation requires officers and employees of FDIC-supervised institutions to report to the FDIC-supervised institution certain personal securities trading activity.

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Authorizing Statute(s): None

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:
	83 FR 24117	05/24/2018
30-day Notice:	Federal Register Citation:	Citation Date:
	83 FR 46946	09/17/2018
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 4

IC Title	Form No.	Form Name
Recordkeeping and Confirmation Requirements for Securities Transactions - 344.4
Provide Customer with Copy of Broker/Dealer Confirmation and Remuneration Received OR Written Notification or Alternative Notification - 344.5 and 344.6
Officer/Employee Filing of Reports of Personal Securities Trading Transactions - 344.9 (assumes 5 officers/employees at each institution with income from securities broker activity)
Maintain Securities Trading Policies and Procedures - 344.8

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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	38,080	4,080	0	0	34,000	0
Annual Time Burden (Hours)	65,280	113,872	0	0	-48,592	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

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: 09/28/2018

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