Uniform Application and Uniform Termination Notice for Municipal Securities Principal or Municipal Securities Representative Associated with a Bank Municipal Securities Dealer

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form Form MSD-4 Reporting Form MSD-4	Form	Modified	Available
Form Form MSD-5 Recordkeeping Form MSD-5	Form	New	Available
Form Form MSD-4 Recordkeeping Form MSD-4	Form	New	Available
Form Form MSD-5 Reporting Form MSD-5	Form	New	Available
FormMSD4_FormMSD5_20220719_omb.pdf	Supporting Statement A	Uploaded 2022-07-19	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
36102	Reporting Form MSD-4	Form	Modified
254638	Recordkeeping Form MSD-5	Form	New
254637	Recordkeeping Form MSD-4	Form	New
254636	Reporting Form MSD-5	Form	New

ICR Details

OMB Control No: 7100-0100	ICR Reference No: 202207-7100-002
Status: Active	Previous ICR Reference No: 201907-7100-006
Agency/Subagency: FRS	Agency Tracking No: Form MSD-4; Form MSD-5
Title: Uniform Application and Uniform Termination Notice for Municipal Securities Principal or Municipal Securities Representative Associated with a Bank Municipal Securities Dealer
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 07/19/2022
	Date Received in OIRA: 07/19/2022
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2025	36 Months From Approved	07/31/2022
Responses	68	0	18
Time Burden (Hours)	19	0	18
Cost Burden (Dollars)	0	0	0

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Abstract: These mandatory information collections must be submitted in certain circumstances by a municipal security dealer (MSD) that is itself or is a subsidiary of a state member bank (SMB), a bank holding company (BHC), a savings and loan holding company (SLHC), or a foreign dealer bank, as defined below. Form MSD-4 collects information (such as personal history and professional qualifications) regarding an employee whom the MSD wishes to assume the duties of municipal securities principal or representative. Form MSD-5 collects the date of, and reason for, termination of such an employee.

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Authorizing Statute(s): US Code: 15 USC 78o-4(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 248(a)(1) Name of Law: Federal Reserve Act
   US Code: 12 USC 3105(c)(2) Name of Law: International Banking Act of 1978
   US Code: 12 USC 1844(c)(1)(A)(ii)(II) Name of Law: Bank Holding Company Act of 1956
   US Code: 12 USC 1467a(b)(2) Name of Law: Home Owners’ Loan Act
   US Code: 15 USC 78o-4(a)-(b) and (q) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78c(a)(34)(A)(ii) Name of Law: Securities Exchange Act of 1934
  

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:
	86 FR 69643	12/08/2021
30-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 19934	04/06/2022
Did the Agency receive public comments on this ICR? No

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

table that charts list of burden

IC Title	Form No.	Form Name
Recordkeeping Form MSD-4	Form MSD-4	Uniform Application for Municipal Securities Principal or Municipal Securities Representative Associated with a Bank Municipal Securities Dealer
Recordkeeping Form MSD-5	Form MSD-5	Uniform Termination Notice for Municipal Securities Principal or Municipal Securities Representative Associated with a Bank Municipal Securities Dealer
Reporting Form MSD-4	Form MSD-4	Uniform Application for Municipal Securities Principal or Municipal Securities Representative Associated with a Bank Municipal Securities Dealer
Reporting Form MSD-5	Form MSD-5	Uniform Termination Notice for Municipal Securities Principal or Municipal Securities Representative Associated with a Bank Municipal Securities Dealer

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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	68	18	0	0	50	0
Annual Time Burden (Hours)	19	18	0	0	1	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: As part of this clearance, the Board will clear the Form MSD-4 and Form MSD-5 under the Form MSD-4 OMB control number (7100-0100), and then discontinue the Form MSD-5’s separate OMB control number (7100-0101). This non-substantive change is aimed at simplifying the tracking and clearance process for the two related forms. This change would not modify the reporting or recordkeeping requirements of the forms in any way.

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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.     Yes

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.     Yes

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? No

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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: 07/19/2022

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