FERC Form No. 520, (NOPR in RM18-15) Application for Authority to Hold Interlocking Directorate Positions

Forms and Documents

Document Name	Status
FERC-520 supporting statement_RM18-15NOPRv2.doc Supporting Statement A	2018-08-13
Sample FERC-520 filing.pdf Supplementary Document	2017-07-18
16 USC 824(d).pdf Supplementary Document	2017-07-18
18 CFR 45.9.pdf Supplementary Document	2017-07-18
18 CFR 45.8.pdf Supplementary Document	2017-07-18

IC Document Collections

IC ID	Document Title	Status
23035	Application for Authority to Hold Interlocking Interlocking Directorate Positions Instruction	Modified

ICR Details

OMB Control No: 1902-0083	ICR Reference No: 201808-1902-002
Status: Historical Inactive	Previous ICR Reference No: 201707-1902-002
Agency/Subagency: FERC	Agency Tracking No: FERC-520
Title: FERC Form No. 520, (NOPR in RM18-15) Application for Authority to Hold Interlocking Directorate Positions
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule and continue	Conclusion Date: 10/01/2018
	Date Received in OIRA: 08/14/2018
Terms of Clearance: In accordance with 5 CFR 1320, OMB is filing comment and withholding approval at this time. The agency shall examine public comment in response to the proposed rulemaking 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	10/31/2020	36 Months From Approved	10/31/2020
Responses	716	0	716
Time Burden (Hours)	4,850	0	4,850
Cost Burden (Dollars)	0	0	0

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Abstract: The FERC-520 (Application for Authority to Hold Interlocking Directorate Positions) is an application requesting FERC authorization for board members of regulated electric utilities who plan to simultaneously hold positions on corporate boards of related or similar entities. This occurrence is known as an "interlocking directorate". Under the FPA, the holding of specific interlocking directorates is unlawful unless the Commission has authorized the interlocks to be held. Before assuming an interlocking position, an applicant must demonstrate that neither public nor private interests will be adversely affected by the interlocking position. The FERC-520 identifies the applicant and provides FERC with a list and information about any interlocking position the application requests authorization to hold. Additionally, the filing collects information related to the applicant's financial interests, other officer/directors of the firm that are involved, and the nature of business relationships among firms. NOPR in Docket RM18-15: The Commission proposes to revise parts 45 and 46 of its regulations related to interlocking officers and directors to clarify and update the requirements for both applicants and holders. In particular, the Commission proposes to update its regulations to reflect statutory changes to the circumstances in which an applicant who would otherwise require Commission authorization to hold an interlocking position need not do so. The Commission also proposes to revise its regulations to clarify its position on late-filed applications and informational reports. The Commission further proposes to revise its regulations to clarify that an interlock holder is not required to file a notice of change when merely changing positions within a holding company. Additionally, the Commission proposes to revise its regulations to state that applicants do not need to list in their applications public utilities that do not have officers or directors. Next, the Commission proposes to revise its regulations with regard to public utilities owned by a natural person.

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Authorizing Statute(s): US Code: 16 USC 825(d) Name of Law: Federal Power Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1902-AF53	Proposed rulemaking	83 FR 40034	08/01/2018

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Application for Authority to Hold Interlocking Interlocking Directorate Positions

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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: Yes

Burden Reduction Due to: Changing Regulations

Short Statement: The Commission is proposing to revise its requirements and no longer require a notice of change when a person is merely changing positions within a holding company system. This proposal is expected to reduce the number of filed notices of change by 50 percent annually and to reduce the corresponding total burden.

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Annual Cost to Federal Government: $114,881

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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: 08/14/2018

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