Notice Claiming Status as an Exempt Transfer Agent

Forms and Documents

Document Name	Status
FR4013_20190925_omb.pdf Supporting Statement A	2019-09-25

IC Document Collections

IC ID	Document Title	Status
36175	Exemption notice	Unchanged
237872	Exemption disqualification notice	New

ICR Details

OMB Control No: 7100-0137	ICR Reference No: 201909-7100-009
Status: Active	Previous ICR Reference No: 201909-7100-007
Agency/Subagency: FRS	Agency Tracking No: FR 4013
Title: Notice Claiming Status as an Exempt Transfer Agent
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 09/25/2019
	Date Received in OIRA: 09/25/2019
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2022	36 Months From Approved	12/31/2019
Responses	2	0	1
Time Burden (Hours)	4	0	2
Cost Burden (Dollars)	0	0	0

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Abstract: Transfer agents, which are institutions that provide securities transfer, registration, monitoring, and other specified services on behalf of securities issuers, are generally subject to certain Securities and Exchange Commission (SEC) regulations. A transfer agent is Board-regulated if it is a state member bank or a subsidiary thereof, a bank holding company (BHC), or a savings and loan holding company (SLHC). Certain transfer agent subsidiaries of BHCs are also Board-regulated. A Board-regulated transfer agent that transfers and processes a low volume of securities (low-volume transfer agent) may request an exemption from those regulations by filing with the Board a notice (exemption notice) certifying that it qualifies as a low-volume transfer agent.

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Authorizing Statute(s): US Code: 15 USC 78q(a)(3) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78q-1(c) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78w(a) Name of Law: Securities Exchange Act of 1934
   US Code: 12 USC 1844(c) Name of Law: Bank Holding Company Act of 1956
   US Code: 12 USC 1467a(b) and (g) Name of Law: Home Owners’ Loan Act
   US Code: 15 USC 78b Name of Law: Securities Exchange Act of 1934
   US Code: 12 USC 248(a) Name of Law: Federal Reserve Act
   US Code: 12 USC 324 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:
	84 FR 18285	04/30/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 39844	08/12/2019
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
Exemption notice
Exemption disqualification notice

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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	2	1	0	1	0	0
Annual Time Burden (Hours)	4	2	0	2	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The estimated total annual burden for the FR 4013 is 2 hours, and would increase to 4 hours with the adopted revisions. The increase in estimated burden is due to the identification of the existing additional regulatory requirement to file an exemption disqualification notice. Because this information collection is event-generated, it is not possible to predict exactly how many notices will be filed in a particular year. In recent years, the Federal Reserve has received an average of one exemption notice and one exemption disqualification notice per year.

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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: 09/25/2019

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