Search Results for keywords:"recordkeeping requirements"

The Federal Deposit Insurance Corporation (FDIC) has announced that it is granting temporary relief to certain financial institutions. These institutions, which manage mortgage servicing accounts, are being given until March 31, 2022, to meet specific technology and recordkeeping requirements necessary for calculating deposit insurance. This relief period is intended to allow these institutions more time to improve their systems and processing capabilities. The FDIC will continue to monitor the situation and may change or withdraw the relief if needed.

The Commodity Futures Trading Commission (CFTC) is seeking public comments on its plan to renew the information collection requirements related to risk management for clearing members involving Futures Commission Merchants (FCMs), Swap Dealers (SDs), and Major Swap Participants (MSPs). The agency regulations mandate these members to maintain risk management systems, conduct stress tests, and keep records to manage financial risks effectively and support the efficient operation of trading venues. Individuals can submit comments by April 7, 2025, and the CFTC encourages suggestions on improving the information collection process.

The Federal Railroad Administration (FRA), part of the Department of Transportation, is requesting public comments on its proposed Information Collection Request (ICR) under the Paperwork Reduction Act of 1995. This ICR is about Railroad Workplace Safety, which involves collecting data to ensure railroads have proper safety programs for roadway workers. The FRA seeks comments specifically on the necessity and accuracy of these information collection activities and ways to reduce the burden on the public. The estimated paperwork burden has increased due to new recordkeeping requirements, and the FRA invites feedback by May 27, 2025.

The Financial Crimes Enforcement Network (FinCEN) is seeking public comments on the renewal of information collection requirements under the Bank Secrecy Act (BSA). The regulations require dealers in foreign exchange and brokers or dealers in securities to maintain records of taxpayer identification numbers and transaction documents. Though there are no proposed changes to these requirements, FinCEN is considering expanding the scope of the annual burden estimates associated with these regulations. The request for comments is part of an effort to reduce paperwork and evaluate the effectiveness and efficiency of the current process, in compliance with the Paperwork Reduction Act.

The Federal Aviation Administration (FAA) is seeking public comments on a proposed new information collection regarding small unmanned aircraft systems (UAS) that have an airworthiness certificate. This collection will require operators and owners to maintain records of all maintenance, status of parts, compliance with airworthiness directives, and inspection status of their aircraft. The FAA estimates that this requirement will apply to around two operators per year, each managing a fleet of 100 UAS, leading to an annual burden of approximately 100 hours for keeping these records. This effort ensures the safety and reliability necessary for UAS operations over people.

The document outlines an interim final rule by the U.S. Customs and Border Protection (CBP), under the Homeland Security and Treasury Departments, to implement regulations for the United States-Mexico-Canada Agreement (USMCA). This rule amends existing regulations to provide guidance on preferential tariff treatment and related customs measures for various goods, including textiles and automotive products. It establishes certification requirements for importers and manufacturers, recordkeeping responsibilities, and procedures for protests and verifications. The rule aims to ensure compliance with the new trade agreement and streamline the process for benefiting from the preferential treatment under the USMCA.

The Food and Drug Administration (FDA) has submitted a proposed collection of information to the Office of Management and Budget (OMB) for approval under the Paperwork Reduction Act of 1995. This collection focuses on adverse experience reporting for FDA-regulated drug products, including stringent recordkeeping and reporting requirements. The collection aims to ensure that serious safety concerns with marketed drugs are identified and addressed, with all reports required to be submitted in electronic format. The FDA is inviting public comments on this collection by February 18, 2025, to aid in refining and improving the process.

The Office of the Comptroller of the Currency (OCC), a part of the Treasury Department, has announced a request for public comments on a revised information collection about Appraisal Management Companies as required by the Paperwork Reduction Act of 1995. This collection involves recordkeeping requirements for managing appraisal companies, as directed by the Dodd-Frank Act. The deadline for submitting comments is January 21, 2025. The OCC has reduced the estimated annual paperwork burden from 2,455 hours in 2021 to 1,991 hours due to fewer respondents.

The Department of the Treasury is seeking feedback from the public and other agencies on a proposed extension of its current data collection requirements related to international capital and foreign currency transactions. These recordkeeping requirements help the Treasury to manage U.S. claims and liabilities involving foreigners, securities transactions with foreigners, and foreign currency transactions of U.S. businesses. The department is requesting comments on various aspects of these requirements, including their necessity, accuracy, and ways to reduce the paperwork burden on businesses. Written comments should be submitted by April 28, 2025.

The Federal Aviation Administration (FAA) is asking for public comments on its plan to renew an information collection related to agricultural aircraft operations under Part 137. This process involves submitting FAA Form 8710-3 and other reports necessary for certification, exemption petitions, and recordkeeping for safety and regulatory compliance. The public can submit written comments via email, fax, or mail by February 21, 2025. The renewal aims to ensure FAA can adequately assess qualifications for certification, manage operations over congested areas, and maintain necessary records for over 1,700 active agricultural aircraft operators.