View Information Collection Request (ICR) Package
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View Supporting Statement and Other Documents
Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
3064-0184
ICR Reference No:
201110-3064-001
Status:
Historical Inactive
Previous ICR Reference No:
Agency/Subagency:
FDIC
Agency Tracking No:
Title:
Volcker Rule Restrictions on Proprietary Trading and Relationships with Hedge Funds and Private Equity Funds
Type of Information Collection:
New collection (Request for a new OMB Control Number)
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Comment filed on proposed rule
Conclusion Date:
02/10/2012
Retrieve Notice of Action (NOA)
Date Received in OIRA:
11/07/2011
Terms of Clearance:
Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR). In accordance with 5 CFR 1320, OMB is withholding approval at this time. The agency shall examine public comment in response to the NPRM and will include in the supporting statement of the next ICR--to be submitted to OMB at the final rule stage--a description of how the agency has responded to any public comments on the ICR, including comments on maximizing the practical utility of the collection and minimizing the burden.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
36 Months From Approved
Responses
0
0
0
Time Burden (Hours)
0
0
0
Cost Burden (Dollars)
0
0
0
Abstract:
Section 619 of the Wall Street Reform and Consumer Protection Act added a new section 13 to the Bank Holding Company Act. Section 13 of the Bank Holding Company Act contains certain prohibitions and restrictions on the ability of banking entities to engage in proprietary trading and restricts the ability of banking entities to hold certain investments in, and have certain relationships with, hedge funds and private equity funds. This information collection includes certain reporting, recordkeeping and disclosure requirements contained in the implementing rule for section 13.
Authorizing Statute(s):
PL:
Pub.L. 111 - 203 619
Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
Citations for New Statutory Requirements:
PL: Pub.L. 111 - 203 619 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3064-AD85
Proposed rulemaking
76 FR 68846
11/07/2011
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
12
IC Title
Form No.
Form Name
Application to extend time to divest ownership interest in a covered fund (ongoing)
Application to extend time to divest ownership interest in covered fund (initial set-up)
Compliance program (initial setup)
Compliance program (ongoing)
Covered fund disclosures (initial setup)
Covered fund disclosures (ongoing)
Documentation of acquisition of interest in covered fund (initial setup)
Documentation of interest in covered fund (ongoing)
Documentation of plan to provide advisory services via covered fund with bona fide trust (ongoing)
Documentation of plan to provide advisory services via covered fund with bona fide trust provision (initial setup)
Policies and procedures for entities not engaging in prohibited activities (initial setup)
Policies and procedures for entities not engaging in prohibited activities (ongoing)
Burden increases because of Program Change due to Agency Discretion:
No
Burden Increase Due to:
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
The 46,428 reporting, recordkeeping and disclosure hours in this information collection arise from a proposed rule implementing new statutory prohibitions and restrictions on the ability of banking entities to engage in proprietary trading and restricts the ability of banking entities to hold certain investments in, and have certain relationships with, hedge funds and private equity funds.
Annual Cost to Federal Government:
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
No
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
Yes
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Leneta Gregorie 202 898-3719 lgregorie@fdic.gov
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
11/07/2011
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