Notice2026-08444
Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Recordkeeping Requirements for Securities Transactions
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
April 30, 2026
Issuing agencies
Treasury DepartmentComptroller of the Currency
Abstract
The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites comment on a continuing information collection, as required by the Paperwork Reduction Act of 1995 (PRA). In accordance with the requirements of the PRA, the OCC may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The OCC is soliciting comment concerning the renewal of its information collection titled, "Recordkeeping Requirements for Securities Transactions." The OCC also is giving notice that it has sent the collection to OMB for review.
Full Text
<html>
<head>
<title>Federal Register, Volume 91 Issue 83 (Thursday, April 30, 2026)</title>
</head>
<body><pre>
[Federal Register Volume 91, Number 83 (Thursday, April 30, 2026)]
[Notices]
[Pages 23346-23348]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-08444]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Submission for OMB Review; Recordkeeping Requirements for
Securities Transactions
AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.
ACTION: Notice and request for comment.
-----------------------------------------------------------------------
SUMMARY: The OCC, as part of its continuing effort to reduce paperwork
and respondent burden, invites comment on a continuing information
collection, as required by the Paperwork Reduction Act of 1995 (PRA).
In accordance with the requirements of the PRA, the OCC may not conduct
or sponsor, and the respondent is not required to respond to, an
information collection unless it displays a currently valid Office of
Management and Budget (OMB) control number. The OCC is soliciting
comment concerning the renewal of its information collection titled,
``Recordkeeping Requirements for Securities Transactions.'' The OCC
also is giving notice that it has sent the collection to OMB for
review.
[[Page 23347]]
DATES: Comments must be received by June 1, 2026.
ADDRESSES: Commenters are encouraged to submit comments by email, if
possible. You may submit comments by any of the following methods:
<bullet> Email: <a href="/cdn-cgi/l/email-protection#433331222a2d252c032c20206d37312622306d242c35"><span class="__cf_email__" data-cfemail="4a3a382b23242c250a252929643e382f2b39642d253c">[email protected]</span></a>.
<bullet> Mail: Chief Counsel's Office, Attention: Comment
Processing, Office of the Comptroller of the Currency, Attention: 1557-
0142, 400 7th Street SW, Suite 3E-218, Washington, DC 20219.
<bullet> Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218,
Washington, DC 20219.
<bullet> Fax: (571) 293-4835.
Instructions: You must include ``OCC'' as the agency name and
``1557-0142'' in your comment. In general, the OCC will publish
comments on <a href="http://www.reginfo.gov">www.reginfo.gov</a> without change, including any business or
personal information provided, such as name and address information,
email addresses, or phone numbers. Comments received, including
attachments and other supporting materials, are part of the public
record and subject to public disclosure. Do not include any information
in your comment or supporting materials that you consider confidential
or inappropriate for public disclosure.
Written comments and recommendations for the proposed information
collection should also be sent within 30 days of publication of this
notice to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. You can find this
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
You may review comments and other related materials that pertain to
this information collection following the close of the 30-day comment
period for this notice by the method set forth in the next bullet.
<bullet> Viewing Comments Electronically: Go to <a href="http://www.reginfo.gov">www.reginfo.gov</a>.
Hover over the ``Information Collection Review'' tab and click on
``Information Collection Review'' from the drop-down menu. From the
``Currently under Review'' drop-down menu, select ``Department of the
Treasury'' and then click ``submit.'' This information collection can
be located by searching OMB control number ``1557-0142'' or
``Recordkeeping Requirements for Securities Transactions.'' Upon
finding the appropriate information collection, click on the related
``ICR Reference Number.'' On the next screen, select ``View Supporting
Statement and Other Documents'' and then click on the link to any
comment listed at the bottom of the screen.
<bullet> For assistance in navigating <a href="http://www.reginfo.gov">www.reginfo.gov</a>, please
contact the Regulatory Information Service Center at (202) 482-7340.
FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, Clearance Officer,
(202) 649-5490, Chief Counsel's Office, Office of the Comptroller of
the Currency, 400 7th Street SW, Washington, DC 20219. If you are deaf,
hard of hearing, or have a speech disability, please dial 7-1-1 to
access telecommunications relay services.
SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501 et seq.),
Federal agencies must obtain approval from the OMB for each collection
of information that they conduct or sponsor. ``Collection of
information'' is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to
include agency requests or requirements that members of the public
submit reports, keep records, or provide information to a third party.
The OCC asks the OMB to extend its approval of the collection in this
notice.
Title: Recordkeeping Requirements for Securities Transactions.
OMB Control No.: 1557-0142.
Type of Review: Regular.
Affected Public: Businesses or other for-profit.
Description: The information collection requirements in 12 CFR
parts 12 and 151 are designed to ensure that national banks and Federal
savings associations comply with securities laws and to improve the
protections afforded to persons who purchase and sell securities
through these financial institutions. Parts 12 and 151 establish
recordkeeping and confirmation requirements applicable to certain
securities transactions effected by national banks or Federal savings
associations for customers. The transaction confirmation information
required by these regulations ensures that customers receive a record
of each securities transaction and that financial institutions and the
OCC have the records necessary to monitor compliance with securities
laws and regulations. The OCC uses the required information in the
course of its examinations to evaluate, among other things, an
institution's compliance with the antifraud provisions of the Federal
securities laws.
The information collection requirements contained in 12 CFR parts
12 and 151 are as follows:
<bullet> Twelve CFR 12.3 requires a national bank effecting
securities transactions for customers to maintain certain records for
at least three years. The records required by this section must clearly
and accurately reflect the information required and provide an adequate
basis for the audit of the information.
<bullet> Twelve CFR 151.50 requires a Federal savings association
effecting securities transactions for customers to maintain certain
records for at least three years. Twelve CFR 151.60 provides that the
records required by 12 CFR 151.50 must clearly and accurately reflect
the information required and provide an adequate basis for audit of the
information.
<bullet> Twelve CFR 12.4 requires a national bank to give or send
to the customer a written notification of the transaction at or before
completion of the securities transaction or, if using a confirmation
from a registered broker/dealer, to send a copy of that confirmation
within one business day from the bank's receipt of the confirmation
from the broker dealer. Section 12.4 also establishes minimum
disclosures needed for a customer's securities transactions.
<bullet> Twelve CFR 151.70 establishes the types of notice a
Federal savings association must provide when effecting a securities
transaction for a customer. Twelve CFR 151.80 establishes when a
Federal savings association must provide notice if the Federal savings
association is complying with Sec. 151.70 by using a broker-dealer
confirmation, and also requires the Federal savings association to
provide a statement of the source and amount of any remuneration it
will receive in connection with the transaction, unless it has
determined remuneration in a written agreement with the customer.
Twelve CFR 151.90 establishes when a Federal savings association must
provide notice if complying with Sec. 151.70 by providing written
notice and establishes the minimum disclosures that must be included in
that notice. Twelve CFR 151.90 requires a Federal savings association
to provide its customers with a written notice of each securities
transaction if it is not following the procedures in 12 CFR 151.80. The
Federal savings association must give or send the notice to the
customer at or before the completion of the securities transaction.
<bullet> Twelve CFR 12.5(a), (b), (c), and (e) describe
notification procedures that a national bank may elect to use, as an
alternative to complying with Sec. 12.4, to notify customers of
transactions in which the bank does not exercise investment discretion,
trust transactions, agency transactions, and certain periodic plan
transactions.
<bullet> Twelve CFR 151.100 describes notification procedures that
a Federal savings association may use, as an
[[Page 23348]]
alternative to complying with 12 CFR 151.70, for an account in which
the savings association does not exercise investment discretion,
certain accounts for which it exercises investment discretion in other
than an agency capacity, trust transactions, agency transactions,
certain periodic plan transactions, collective investment fund
transactions, and money market funds.
<bullet> Twelve CFR 12.7(a)(1) through (a)(3) require national
banks to maintain and adhere to policies and procedures that assign
responsibility for supervision of employees who perform securities
trading functions, provide for the fair and equitable allocation of
securities and prices to accounts for certain types of orders, and
provide for crossing of buy and sell orders on a fair and equitable
basis.
<bullet> Twelve CFR 151.140 requires Federal savings associations
to adopt written policies and procedures dealing with the functions
involved in effecting securities transactions on behalf of customers.
These policies and procedures must assign responsibility for the
supervision of employees who perform securities trading functions,
provide for the fair and equitable allocation of securities prices to
accounts for certain types of orders, and provide for crossing of buy
and sell orders on a fair and equitable basis.
<bullet> Twelve CFR 12.7(a)(4) requires certain national bank
officers and employees involved in the securities trading process to
report to the bank all personal transactions in securities made by them
or on their behalf in which they have a beneficial interest.
<bullet> Twelve CFR 151.150 requires certain Federal savings
association officers and employees to report personal transactions they
make or that are made on their behalf in which they have a beneficial
interest.
<bullet> Twelve CFR 12.8 requires a national bank seeking a waiver
of one or more of the requirements of Sec. Sec. 12.2 through 12.7 to
file a written request for waiver with the OCC.
Estimated Burden
Estimated Frequency of Response: On occasion.
Estimated Number of Respondents: 306.
Estimated Total Annual Burden: 1,497 hours.
Comments: On February 20, 2026, the OCC published a 60-day notice
for this information collection, (91 FR 8307). No comments were
received.
Comments continue to be invited on:
(a) Whether the collection of information is necessary for the
proper performance of the functions of the OCC, including whether the
information has practical utility;
(b) The accuracy of the OCC'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 start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Carl Kaminski,
Assistant Director, Office of the Comptroller of the Currency.
[FR Doc. 2026-08444 Filed 4-29-26; 8:45 am]
BILLING CODE 4810-33-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on April 30, 2026.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.