2016-30502: Economic Growth and Regulatory Paperwork Reduction Act of 1996 Amendments

Summary

As part of its review under the Economic Growth and Regulatory Paperwork Reduction Act of 1996, the Office of the Comptroller of the Currency (OCC) is revising certain of its rules to remove outdated or otherwise unnecessary provisions. Specifically, the OCC is: revising certain licensing rules related to chartering applications, business combinations involving Federal mutual savings associations, and notices for changes in permanent capital; clarifying national bank director oath requirements; revising certain fiduciary activity requirements for national banks and Federal savings associations; removing certain financial disclosure regulations for national banks; removing certain unnecessary regulatory reporting, accounting, and management policy regulations for Federal savings associations; updating the electronic activities regulation for Federal savings associations; integrating and updating OCC regulations for national banks and Federal savings associations relating to municipal securities dealers, Securities Exchange Act disclosure rules, and securities offering disclosure rules; updating and revising recordkeeping and confirmation requirements for national banks' and Federal savings associations' securities transactions; integrating and updating regulations relating to insider and affiliate transactions; and making other technical and clarifying changes.

The agency’s own summary, as published.

What this changes

Amends 18 parts of the Code of Federal Regulations — the standing rules this notice rewrites.

• 12 CFR 5 Rules, Policies, and Procedures for Corporate Activities
• 12 CFR 7 Activities and Operations
• 12 CFR 8 Assessment of Fees
• 12 CFR 9 Fiduciary Activities of National Banks
• 12 CFR 10 Municipal Securities Dealers
• 12 CFR 11 Securities Exchange Act Disclosure Rules
• 12 CFR 12 Recordkeeping and Confirmation Requirements for Securities Transactions
• 12 CFR 16 Securities Offering Disclosure Rules
• 12 CFR 18
• 12 CFR 31 Extensions of Credit to Insiders and Transactions with Affiliates
• 12 CFR 150 Fiduciary Powers of Federal Savings Associations
• 12 CFR 151 Recordkeeping and Confirmation Requirements for Securities Transactions
• 12 CFR 155 Electronic Operations of Federal Savings Associations
• 12 CFR 162 Accounting and Disclosure Standards
• 12 CFR 163 Savings Associations—Operations
• 12 CFR 193
• 12 CFR 194
• 12 CFR 197