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Federal Register / Vol. 86, No. 233 / Wednesday, December 8, 2021 / Notices relates to employment history and professional background, including any disciplinary sanctions, as well as any claimed basis for exemption from MSRB
examination requirements. Certain information reported on Form MSD4 is filled out by the employee, with the rest completed by the MSD. As required by MSRB rule G7, bank municipal securities dealers must retain copies of Form MSD4 for each associated person during the entire term of employment.
Report title: Uniform Termination Notice for Municipal Securities Principal or Municipal Securities Representative Associated with a Bank Municipal Securities Dealer.
Agency form number: Form MSD5.
OMB control number: 71000101.
Frequency: Event generated.
Respondents: Each MSD that is an SMB, BHC, or an SLHC, certain subsidiaries of such firms, or a foreign dealer bank.3
Estimated number of respondents:
Reporting, 21; Recordkeeping, 21.
Estimated average hours per response:
Reporting, 0.16; Recordkeeping; 0.08.
Estimated annual burden hours:
Reporting, 3.36; Recordkeeping 1.68.
General description of report: An MSD for which the Board is the ARA
must file Form MSD5 with the Board when any employee previously registered as a municipal securities principal or representative is terminated for any reason. Form MSD5 requires information such as the reason for termination and whether any investigations or actions by agencies or self-regulatory organizations SROs involving the associated person occurred during the period of employment.
Any SMB, BHC, or SLHC, as well as certain subsidiaries of such firms, and any foreign dealer bank that is an MSD
is required to file Forms MSD4 and MSD5 with the Board with respect to its employees. As required by MSRB
rule G7, an MSD must retain both Form MSD4 and Form MSD5 for three years from the date of termination of employment.
Legal authorization and confidentiality: The Securities Exchange Act of 1934 Exchange Act authorizes the Securities and Exchange Commission SEC and MSRB to promulgate rules requiring MSDs to file reports about associated persons with the SEC and ARAs,4 and the Board is the ARA for most Form MSD4 and Form MSD5 respondents.5 The 3 15

U.S.C. 78c34Aii.
U.S.C. 78o-4ab and q.
5 15 U.S.C. 78ca34Aii establishing the Board as the ARA for an MSD that is, or is the 4 15

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Exchange Act further authorizes the Board to enforce compliance with the SECs and MSRBs rules,6 and make rules and regulations to implement the portions of the Exchange Act for which it is responsible.7
Several additional statutes also authorize the Board to require submission of the Forms MSD4 and MSD5 by specific entities, including the Federal Reserve Act for SMBs and their affiliates,8 the International Banking Act for branches and agencies of foreign banks,9 the Bank Holding Company Act of 1956 for BHCs and their subsidiaries,10 and the Home Owners Loan Act for SLHCs and their subsidiaries.11
Filing of the Forms MSD4 and MSD
5 is mandatory. Information provided on Forms MSD4 and MSD5 may be kept confidential pursuant to exemption 6 of the Freedom of Information Act FOIA to the extent disclosure of such information would constitute a clearly unwarranted invasion of personal privacy. 12 Information contained on Forms MSD4 and MSD5 may also be kept confidential under FOIA
exemption 4 if it is confidential commercial or financial information that is both customarily and actually treated as private 13 or under FOIA
exemption 8 if it is obtained as part of an examination or supervision of a financial institution.14
Board of Governors of the Federal Reserve System, November 30, 2021.
Michele Taylor Fennell, Deputy Associate Secretary of the Board.
FR Doc. 202126325 Filed 12721; 8:45 am BILLING CODE 621001P

subsidiary of, an SLHC, SMB, or BHC including a subsidiary of the BHC if the subsidiary does not already report to another ARA or to the SEC. While the Exchange Act does not specify the ARA for MSD activities of foreign dealer banks, the SEC has agreed that the Board should examine their MSD
activities. See Letter from Catherine McGuire, Chief Counsel, SEC Division of Market Regulation, to Laura M. Homer, Assistant Director of Board S&R, June 14, 1994.
6 15 U.S.C. 78o4c.
7 15 U.S.C. 78wa.
8 12 U.S.C. 248a1 authorizing the Board to require such statements and reports of member banks as it may deem necessary.
9 12 U.S.C. 3105c2 subjecting branches and agencies of foreign banks to reporting requirements in the same manner as if the branch or agency were a State member bank.
10 12 U.S.C. 1844c1AiiII authorizing the Board to require from a BHC or any subsidiary reports as to compliance with federal laws that the Board has jurisdiction to enforce.
11 12 U.S.C. 1467ab2 authorizing the Board to require reports from SLHCs and their subsidiaries containing such information concerning the operations of the SLHC or subsidiary as the Board may require.
12 5 U.S.C. 552b6.
13 5 U.S.C. 552b4.
14 5 U.S.C. 552b8.

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FEDERAL RESERVE SYSTEM
Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
Board of Governors of the Federal Reserve System.
SUMMARY: The Board of Governors of the Federal Reserve System Board is adopting a proposal to extend for three years, with revisions, the Financial Statements for Holding Companies FR
Y9 reports; OMB Control Number 71000128. The revisions are effective as of December 31, 2021.
FOR FURTHER INFORMATION CONTACT:
Federal Reserve Board Clearance OfficerNuha ElmaghrabiOffice of the Chief Data Officer, Board of Governors of the Federal Reserve System, Washington, DC 20551, 202
4523829.
Office of Management and Budget OMB Desk Officer for the Federal Reserve Board, Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Room 10235, 725 17th Street NW, Washington, DC
20503, or by fax to 202 3956974.
SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board authority under the Paperwork Reduction Act PRA to approve and assign OMB control numbers to collections of information conducted or sponsored by the Board. Boardapproved collections of information are incorporated into the official OMB
inventory of currently approved collections of information. The OMB
inventory, as well as copies of the PRA
Submission, supporting statements, and approved collection of information instruments are available at https
www.reginfo.gov/public/do/PRAMain.
These documents are also available on the Federal Reserve Boards public website at https
www.federalreserve.gov/apps/
reportforms/review.aspx or may be requested from the agency clearance officer, whose name appears above.
AGENCY:

Final Approval Under OMB Delegated Authority of the Extension for Three Years, With Revision, of the Following Information Collection Report title: Financial Statements for Holding Companies.
Agency form number: FR Y9C, FR Y
9LP, FR Y9SP, FR Y9ES, and FR Y
9CS.
OMB control number: 71000128.
Effective Date: December 31, 2021.
Frequency: Quarterly, semiannually, and annually.

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