[Federal Register Volume 68, Number 19 (Wednesday, January 29, 2003)]
[Notices]
[Page 4546]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-2027]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Submission for OMB 
Review; 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 the 
information collection displays a currently valid OMB control number. 
The OCC is soliciting comment concerning its information collection 
titled, ``Recordkeeping Requirements for Securities Transactions--12 
CFR 12.'' The OCC also gives notice that it has sent the information 
collection to OMB for review and approval.

DATES: You should submit your comments to the OCC and the OMB Desk 
Officer by February 28, 2003.

ADDRESSES: You should direct comments to:
    Communications Division, 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 delays in paper mail in the 
Washington area, 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.
    Joseph F. Lackey, Jr., OMB Desk Officer for the OCC, Office of 
Information and Regulatory Affairs, Office of Management and Budget, 
New Executive Office Building, Room 10235, Washington, DC 20503.

FOR FURTHER INFORMATION CONTACT: You can request additional information 
or a copy of the collection from 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: Businesses or other for-profit.
    Estimated Number of Respondents: 685.
    Estimated Total Annual Responses: 685.
    Frequency of Response: On occasion.
    Estimated Total Annual Burden: 3,713 hours.

    Dated: January 21, 2003.
Mark J. Tenhundfeld,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. 03-2027 Filed 1-28-03; 8:45 am]
BILLING CODE 4810-33-P