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Submission for OMB Review; Comment Request-Securities Offering Disclosure

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Office of Thrift Supervision (OTS), Treasury.


Notice and request for comment.


The proposed information collection requirement described below has been submitted to the Office of Management and Budget (OMB) for review, as required by the Paperwork Reduction Act of 1995. OTS is soliciting public comments on the proposal.


Submit written comments on or before May 5, 2004.


Send comments, referring to the collection by title of the proposal or by OMB approval number, to OMB and OTS at these addresses: Joseph F. Lackey, Jr., Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10235, New Executive Office Building, Washington, DC 20503, or e-mail to; and Information Collection Comments, Chief Counsel's Office, Office of Thrift Supervision, 1700 G Street, NW., Washington, DC 20552, by fax to (202) 906-6518, or by e-mail to OTS will post comments and the related index on the OTS Internet Site at 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, or send a facsimile transmission to (202) 906-7755.

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To obtain a copy of the submission to OMB, contact Marilyn K. Burton at, (202) 906-6467, or facsimile number (202) 906-6518, Regulations and Legislation Division, Chief Counsel's Office, Office of Thrift Supervision, 1700 G Street, NW., Washington, DC 20552.

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OTS may not conduct or sponsor an information collection, and respondents are not required to respond to an information collection, unless the information collection displays a currently valid OMB control number. As part of the approval process, we invite comments on the following information collection.

Title of Proposal: Securities Offering Disclosure.

OMB Number: 1550-0035.

Form Numbers: SEC Forms S-1, S-2, S-3, S-4, S-8, SB-1, SB-2, 144 and OTS Forms OC and G-12.

Regulation requirement: 12 CFR part 563g.

Description: OTS collects information for disclosure in securities offerings by savings associations related directly to U.S. Securities and Exchange Commission requirements for offering of information to potential securities purchasers. OTS's statutory authority for collecting this information is under the Home Owners' Loan Act of 1933, and is pursuant to an exemption from registration for savings associations in the Securities Act of 1933. The Securities Offering regulation, 12 CFR part 563g, sets standards for disclosure in connection with a purchase or sale of securities to provide information to shareholders and potential investors to make informed investment decisions and to reduce the risk of a fraudulent securities offering that could adversely affect the public or the safety and soundness of a savings association.

In addition, on July 30, 2002, President Bush signed into law the Sarbanes-Oxley Act of 2002, Public Law No. 102-204 (2002) (the “Sarbanes-Oxley Act”). Titles III and IV of the Sarbanes-Oxley Act include a number of provisions that are designed to improve the corporate governance and financial disclosures of issuers that have a class Start Printed Page 17737of securities registered under sections 12(b) or 12(g) of the Exchange Act, or that are required to file periodic reports with the SEC under section 15(d) of the Exchange Act. All registered savings associations are public issuers for purposes of the law.

Type of Review: Extension, with revision, of a currently approved collection.

Affected Public: Savings Associations.

Estimated Number of Respondents: 15.

Estimated Frequency of Response: On occasion.

Estimated Total Burden: 994 hours.

Clearance Officer: Marilyn K. Burton, (202) 906-6467, Office of Thrift Supervision, 1700 G Street, NW., Washington, DC 20552.

OMB Reviewer: Joseph F. Lackey, Jr., (202) 395-7316, Office of Management and Budget, Room 10235, New Executive Office Building, Washington, DC 20503.

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Dated: March 30, 2004.

By the Office of Thrift Supervision.

Richard M. Riccobono,

Deputy Director.

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[FR Doc. 04-7641 Filed 4-2-04; 8:45 am]