Federal Deposit Insurance Corporation (FDIC); Office of Thrift Supervision (OTS), Treasury.
Joint notice and request for comment.
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.
Comments should be submitted by December 8, 2003.
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: email@example.com. 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 firstname.lastname@example.org. 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 email@example.com, 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 firstname.lastname@example.org.Start Further Info
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.End Further Info End Preamble Start Supplemental Information
Type of Review: Revision of a currently approved collection.
FDIC: Beneficial Ownership Reports.
OTS: 34 Act Disclosures.
OMB Control 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 Start Printed Page 58097are 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.
FDIC: Directors, officers and principal shareholders of insured financial institutions (insiders).
OTS: Directors, officers and principal shareholders of insured financial institutions (insiders); savings associations.
Estimated Number of Respondents:
Estimated Number of Responses:
Estimated Annual Burden Hours:
FDIC: 1,896 hours.
OTS: 14,759 hours.
Frequency of Response:
FDIC: On occasion.
OTS: On occasion; quarterly; annually.
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.Start Signature
Dated at Washington, DC, this 22 day of September, 2003.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Dated: October 2, 2003.
By the Office of Thrift Supervision.
James E. Gilleran,
[FR Doc. 03-25476 Filed 10-7-03; 8:45 am]
BILLING CODE 6714-01-P AND 6720-01-P