[Federal Register Volume 67, Number 204 (Tuesday, October 22, 2002)]
[Notices]
[Pages 64964-64965]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-26831]


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DEPARTMENT OF THE TREASURY


Comptroller of the Currency Agency Information Collection 
Activities: Proposed Extension of Information Collection; Comment 
Request

AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.

ACTION: Notice and request for comment.

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SUMMARY: The OCC, as part of its continuing effort to reduce paperwork 
and respondent burden, invites the general public and other Federal 
agencies to take this opportunity to comment on a continuing 
information collection, as required by the Paperwork Reduction Act of 
1995. An agency may not conduct or sponsor, and a respondent is not 
required to respond to, an information collection unless it displays a 
currently valid OMB control number. The OCC is soliciting comment 
concerning its information collection titled, ``Recordkeeping 
Requirements for Securities Transactions--12 CFR part 12.''

DATES: You should submit comments by December 23, 2002.

ADDRESSES: You should direct comments to the Office of the Comptroller 
of the Currency, Public Information Room, Mailstop 1-5, Attention: 
1557-0142, 250 E Street, SW., Washington, DC 20219. Due to disruptions 
in the OCC's mail service since September 11, 2001, commenters are 
encouraged to submit comments by fax or e-mail. Comments may be sent by 
fax to (202) 874-4448, or by e-mail to [email protected]. You 
can inspect and photocopy the comments at the OCC's Public Information 
Room, 250 E Street, SW., Washington, DC 20219. You can make an 
appointment to inspect the comments by calling (202) 874-5043.
    A copy of the comments should also be sent to the OMB Desk Officer 
for the OCC: Joseph F. Lackey, Jr., Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 10235, Washington, DC 20503, or by e-mail to 
[email protected].

FOR FURTHER INFORMATION CONTACT: You can request additional information 
from

[[Page 64965]]

Jessie Dunaway, OCC Clearance Officer, or Camille Dixon, (202) 874-
5090, Legislative and Regulatory Activities Division, Office of the 
Comptroller of the Currency, 250 E Street, SW., Washington, DC 20219.

SUPPLEMENTARY INFORMATION: The OCC is proposing to extend OMB approval 
of the following information collection:
    Title: Recordkeeping Requirements for Securities Transactions--12 
CFR 12.
    OMB Number: 1557-0142.
    Description: This submission covers an existing regulation and 
involves no change to the regulation or to the information collection 
requirements. The OCC requests only that OMB extend its approval of the 
information collection.
    The information collection requirements in 12 CFR part 12 are 
required to ensure national bank compliance with securities laws and to 
improve the protection afforded persons who purchase and sell 
securities through banks. The transaction confirmation information 
provides customers with a record regarding the transaction and provides 
banks and the OCC with records to ensure compliance with banking and 
securities laws and regulations. The OCC uses the required information 
in its examinations to, among other things, evaluate a bank's 
compliance with the antifraud provisions of the Federal securities 
laws.
    The information collection requirements contained in 12 CFR part 12 
are as follows:
    Section 12.3 requires a national bank effecting securities 
transactions for customers to maintain records for at least three 
years. The records required by this section must clearly and accurately 
reflect the information required and provide an adequate basis for the 
audit of the information.
    Section 12.4 requires a national bank to give or send to the 
customer a written notification of transaction or a copy of the 
registered broker/dealer confirmation relating to the securities 
transaction.
    Sections 12.5(a), (b), (c), and (e) require a national bank, as an 
alternative to complying with Sec.  12.4, to provide notification to 
customers of trust transactions, agency transactions, and periodic plan 
transactions.
    Sections 12.7(a)(1) through (a)(3) require a national bank to 
develop and maintain written securities trading policies and 
procedures.
    Section 12.7(a)(4) requires bank officers and employees to report 
to the bank all personal transactions in securities made by them or on 
their behalf in which they have a beneficial interest.
    Section 12.8 requires a national bank to file a written request 
with the OCC for a waiver of one or more of the requirements set forth 
in Sec. Sec.  12.2 through 12.7.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals; Businesses or other for-profit.
    Estimated Number of Respondents: 745.
    Estimated Total Annual Responses: 745.
    Frequency of Response: On occasion.
    Estimated Total Annual Burden: 3,913 hours.
    Comments submitted in response to this notice will be summarized 
and included in the request for OMB approval. All comments will become 
a matter of public record. Comments are invited on:
    (a) Whether the collection of information is necessary for the 
proper performance of the functions of the agency, including whether 
the information has practical utility;
    (b) The accuracy of the agency's estimate of the burden of the 
collection of information;
    (c) Ways to enhance the quality, utility, and clarity of the 
information to be collected;
    (d) Ways to minimize the burden of the collection on respondents, 
including through the use of automated collection techniques or other 
forms of information technology; and
    (e) Estimates of capital or startup costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Dated: October 17, 2002.
Mark J. Tenhundfeld,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. 02-26831 Filed 10-21-02; 8:45 am]
BILLING CODE 4810-33-P