[Federal Register Volume 87, Number 16 (Tuesday, January 25, 2022)]
[Notices]
[Pages 3807-3809]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-01418]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice, request for comment.

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SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
invites comment on a proposal to extend for three years, without 
revision, the Notice Claiming Status as an Exempt Transfer Agent (FR 
4013; OMB No. 7100-0137).

DATES: Comments must be submitted on or before March 28, 2022.

ADDRESSES: You may submit comments, identified by FR 4013, by any of 
the following methods:

[[Page 3808]]

     Agency website: https://www.federalreserve.gov/. Follow 
the instructions for submitting comments at https://www.federalreserve.gov/apps/foia/proposedregs.aspx.
     Email: [email protected]. Include the OMB 
number or FR number in the subject line of the message.
     Fax: (202) 452-3819 or (202) 452-3102.
     Mail: Ann E. Misback, Secretary, Board of Governors of the 
Federal Reserve System, 20th Street and Constitution Avenue NW, 
Washington, DC 20551.
    All public comments are available from the Board's website at 
https://www.federalreserve.gov/apps/foia/proposedregs.aspx as 
submitted, unless modified for technical reasons or to remove 
personally identifiable information at the commenter's request. 
Accordingly, comments will not be edited to remove any confidential 
business information, identifying information, or contact information. 
Public comments may also be viewed electronically or in paper in Room 
146, 1709 New York Avenue NW, Washington, DC 20006, between 9:00 a.m. 
and 5:00 p.m. on weekdays. For security reasons, the Board requires 
that visitors make an appointment to inspect comments. You may do so by 
calling (202) 452-3684. Upon arrival, visitors will be required to 
present valid government-issued photo identification and to submit to 
security screening in order to inspect and photocopy comments.
    Additionally, commenters may send a copy of their comments to the 
Office of Management and Budget (OMB) Desk Officer for the Federal 
Reserve Board, Office of Information and Regulatory Affairs, Office of 
Management and Budget, New Executive Office Building, Room 10235, 725 
17th Street NW, Washington, DC 20503, or by fax to (202) 395-6974.

FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance 
Officer--Nuha Elmaghrabi--Office of the Chief Data Officer, Board of 
Governors of the Federal Reserve System, Washington, DC 20551, (202) 
452-3829.

SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board 
authority under the Paperwork Reduction Act (PRA) to approve and assign 
OMB control numbers to collections of information conducted or 
sponsored by the Board. In exercising this delegated authority, the 
Board is directed to take every reasonable step to solicit comment. In 
determining whether to approve a collection of information, the Board 
will consider all comments received from the public and other agencies.
    During the comment period for this proposal, a copy of the proposed 
PRA OMB submission, including the draft reporting form and 
instructions, supporting statement, and other documentation, will be 
made available on the Board's public website at https://www.federalreserve.gov/apps/reportforms/review.aspx or may be requested 
from the agency clearance officer, whose name appears above. Final 
versions of these documents will be made available at https://www.reginfo.gov/public/do/PRAMain, if approved.

Request for Comment on Information Collection Proposal

    The Board invites public comment on the following information 
collection, which is being reviewed under authority delegated by the 
OMB under the PRA. Comments are invited on the following:
    a. Whether the proposed collection of information is necessary for 
the proper performance of the Board's functions, including whether the 
information has practical utility;
    b. The accuracy of the Board's estimate of the burden of the 
proposed information collection, including the validity of the 
methodology and assumptions used;
    c. Ways to enhance the quality, utility, and clarity of the 
information to be collected;
    d. Ways to minimize the burden of information 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.
    At the end of the comment period, the comments and recommendations 
received will be analyzed to determine the extent to which the Board 
should modify the proposal.

Proposal Under OMB Delegated Authority To Extend for Three Years, 
Without Revision, the Following Information Collection

    Report title: Notice Claiming Status as an Exempt Transfer Agent.
    Agency form number: FR 4013.
    OMB control number: 7100-0137.
    Frequency: On occasion.
    Respondents: Board-regulated transfer agents.
    Estimated number of respondents: Exemption notice: 1; exemption 
disqualification notice: 1.
    Estimated average hours per response: Exemption notice: 2; 
exemption disqualification notice: 2.
    Estimated annual burden hours: Exemption notice: 2; exemption 
disqualification notice: 2.
    General description of report: Transfer agents, which are 
institutions that provide securities transfer, registration, 
monitoring, and other specified services on behalf of securities 
issuers,\1\ are generally subject to certain Securities and Exchange 
Commission (SEC) regulations. However, a transfer agent that is 
regulated by and registered with the Board (a Board-regulated transfer 
agent) may request an exemption from those regulations if it transfers 
and processes a low volume of securities (a low-volume transfer agent). 
A transfer agent is Board-regulated if it is a state member bank or a 
subsidiary thereof, a bank holding company, or a savings and loan 
holding company. A Board-regulated transfer agent may request an 
exemption from the SEC regulations by filing with the Board a notice 
certifying that it qualifies as a low-volume transfer agent. In 
addition, a Board-regulated low-volume transfer agent that no longer 
meets the requirements of being a low-volume transfer agent must notify 
the Board of that fact.
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    \1\ See 15 U.S.C. 78c(a)(25) (defining ``transfer agent'').
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    Legal authorization and confidentiality: The FR 4013 is authorized 
pursuant to sections 2, 17(a)(3), 17A(c), and 23(a) of the Exchange 
Act,\2\ which, among other things, authorize the Board to promulgate 
regulations and establish recordkeeping and reporting requirements with 
respect to Board-regulated transfer agents.\3\
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    \2\ 15 U.S.C. 78b, 78q(a)(3), 78q-1(c), and 78w(a).
    \3\ Additionally, the Board also has the authority to require 
reports from bank holding companies (12 U.S.C. 1844(c)), savings and 
loan holding companies (12 U.S.C. 1467a(b) and (g)), and state 
member banks (12 U.S.C. 248(a) and 324).
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    The exemption notice is mandatory for Board-registered transfer 
agents seeking the exemption. The obligation to respond for the 
exemption notice, therefore, is required to obtain a benefit. The 
exemption disqualification notice is mandatory for a Board-regulated 
transfer agent that no longer qualifies for the exemption.
    The information collected in the FR 4013 regarding a Board-
regulated transfer agent's volume of transactions is public information 
through the filing and publication of the transfer agent's Form TA-2 
with the SEC. Therefore, individual respondent data collected by the FR 
4013 are not confidential.


[[Page 3809]]


    Board of Governors of the Federal Reserve System, January 19, 
2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-01418 Filed 1-24-22; 8:45 am]
BILLING CODE 6210-01-P