[Federal Register Volume 87, Number 100 (Tuesday, May 24, 2022)]
[Notices]
[Pages 31553-31554]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-11092]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Announcement of Board 
Approval Under Delegated Authority and Submission to OMB

AGENCY: Board of Governors of the Federal Reserve System.

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

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.
    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.

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. Board-approved collections of information are 
incorporated into the official OMB inventory of currently approved 
collections of information. The OMB inventory, as well as copies of the 
PRA Submission, supporting statements, and approved collection of 
information instrument(s) are available at https://www.reginfo.gov/public/do/PRAMain. These documents are also available on the Federal 
Reserve 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 Approval Under OMB Delegated Authority of the Extension for Three 
Years, Without Revision, of the Following Information Collection

    Collection title: Notice Claiming Status as an Exempt Transfer 
Agent.
    Collection identifier: 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 collection: 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

[[Page 31554]]

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.
    Current actions: On January 25, 2022, the Board published a notice 
in the Federal Register (87 FR 3807) requesting public comment for 60 
days on the extension, without revision, of the FR 4013. The comment 
period for this notice expired on March 28, 2022. The Board did not 
receive any comments.

    Board of Governors of the Federal Reserve System, May 17, 2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-11092 Filed 5-23-22; 8:45 am]
BILLING CODE 6210-01-P