FDIC Federal Register Citations

[Federal Register: October 8, 2003 (Volume 68, Number 195)]

[Notices]

[Page 58096-58097]

[DOCID:fr08oc03-41]

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FEDERAL DEPOSIT INSURANCE CORPORATION

DEPARTMENT OF THE TREASURY

Office of Thrift Supervision

Agency Information Collection Activities: Proposed Extension of

Information Collection; Comment Request

AGENCIES: Federal Deposit Insurance Corporation (FDIC); Office of

Thrift Supervision (OTS), Treasury.

ACTION: Joint notice and request for comment.

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SUMMARY: The FDIC and OTS (collectively, the Agencies), as part of

their continuing effort to reduce paperwork and respondent burden,

invite the general public and other Federal agencies to comment on the

proposed revision to an existing information collection as required by

the Paperwork Reduction Act of 1995. The Agencies may not conduct or

sponsor, and a respondent is not required to respond to, an information

collection unless it displays a currently valid Office of Management

and Budget (OMB) control number. Currently, the Agencies are soliciting

comment concerning their plans to require electronic filing by

directors, officers, and principal shareholders of institutions

(insiders) of beneficial ownership of equity securities. Electronic

filing of the reports is mandated by the Securities Exchange Act of

1934, as amended by the Sarbanes-Oxley Act of 2002.

DATES: Comments should be submitted by December 8, 2003.

ADDRESSES: Comments should be directed to the Agencies and the OMB Desk

Officer for the Agencies as follows:

FDIC: Steven F. Hanft, Paperwork Clearance Officer, Legal Division,

Room MB-3064, Attention: Comments/Legal Division, Federal Deposit

Insurance Corporation, 550 17th Street, NW., Washington, DC 20429. All

comments should refer to ``beneficial ownership reports.'' Comments may

be hand-delivered to the guard station at the rear of the 550 17th

Street Building (located on F Street), on business days between 7 a.m.

and 5 p.m. FAX number (202) 898-3838; Internet address: comments@fdic.gov.

Comments may be inspected and photocopied in the

FDIC Public Information Center, Room 100, 801 17th Street, NW.,

Washington, DC between 9 a.m. and 4:30 p.m. on business days.

OTS: Information Collection Comments, Chief Counsel's Office,

Office of Thrift Supervision, 1700 G Street, NW., Washington, DC 20552,

Attention: 1550-0019, FAX number (202) 906-6518, or e-mail to infocollection.comments@ots.treas.gov.

OTS will post comments and the related index on the OTS Internet Site at

http://www.ots.treas.gov. In addition, interested persons may inspect comments at the Public Reading

Room, 1700 G Street, NW., by appointment. To make an appointment, call (202) 906-5922, send an

e-mail to publicinfo@ots.treas.gov, or send a facsimile transmission to (202) 906-7755.

OMB Desk Officer for the Agencies: 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 e-mail to

jlackeyj@omb.eop.gov.

FOR FURTHER INFORMATION CONTACT:

FDIC: Steven F. Hanft, Paperwork Clearance Officer, (202) 898-3907,

Legal Division, Federal Deposit Insurance Corporation, 550 17th Street,

NW., Washington, DC 20429.

OTS: Marilyn K. Burton, OTS Clearance Officer, (202) 906-6467, Office

of Thrift Supervision, 1700 G Street, NW., Washington, DC 20552.

SUPPLEMENTARY INFORMATION:

Type of Review: Revision of a currently approved collection.

Titles:

FDIC: Beneficial Ownership Reports.

OTS: 34 Act Disclosures.

OMB Control Numbers:

FDIC: 3064-0030.

OTS: 1550-0019.

Form Numbers:

FDIC: Forms 3, 4, and 5.

OTS: SEC Schedules 13D, 13G, 14A, 14C, 14D-1, and TO; SEC Forms 3,

4, 5, 10, 10-SB, 10-K, 10-KSB, 8-K, 8-A, 12b-25, 10-Q, 10-QSB, 15, and

annual report.

Abstract: This notice seeks public comment on a planned change in

filing method for reports of beneficial ownership by insiders whose

equity securities are registered with the Agencies. In the past, the

Agencies have required paper filings. The Securities Exchange Act of

1934 (``Exchange Act''), as amended by the Sarbanes-Oxley Act of 2002,

changed this requirement to electronic filing. Currently, the Agencies

[[Page 58097]]

are authorizing voluntary electronic filing through an electronic

system, which has been available since July 30. Electronic filing will

be made mandatory by a separate, later action by the Agencies. The new

electronic system is an important step in the Agencies' ongoing efforts

to streamline the filing and retrieval of reports filed with the

Agencies under the Securities Exchange Act of 1934. It will also reduce

burden on insiders who must file these reports within two business days

of completing a transaction in equity securities of the institution.

Additionally, OTS collects other periodic disclosure documents

required to be filed by savings associations pursuant to the Exchange

Act on forms promulgated by the U.S. Securities and Exchange Commission

for its registrants. In addition to seeking public comment on the

planned change in filing method for reports of beneficial ownership,

OTS also seeks public comment on its proposed renewal of this

collection.

The Agencies' burden estimates follow.

Affected Public:

FDIC: Directors, officers and principal shareholders of insured

financial institutions (insiders).

OTS: Directors, officers and principal shareholders of insured

financial institutions (insiders); savings associations.

Burden Estimates:

Estimated Number of Respondents:

FDIC: 1,755.

OTS: 128.

Estimated Number of Responses:

FDIC: 2,370.

OTS: 401.

Estimated Annual Burden Hours:

FDIC: 1,896 hours.

OTS: 14,759 hours.

Frequency of Response:

FDIC: On occasion.

OTS: On occasion; quarterly; annually.

Comments

Comments submitted in response to this notice will be summarized in

the request for OMB approval. All comments will become a matter of

public record. Comments are invited on:

(a) Whether the collection 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 at Washington, DC, this 22 day of September, 2003.

Federal Deposit Insurance Corporation.

Robert E. Feldman,

Executive Secretary.

Dated: October 2, 2003.

By the Office of Thrift Supervision.

James E. Gilleran,

Director.

[FR Doc. 03-25476 Filed 10-7-03; 8:45 am]

BILLING CODE 6714-01-P AND 6720-01-P