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Financial Institution Letters
Access to the Beneficial Ownership Filings System Using FDICconnect
In order to comply with the mandatory electronic filing requirement for beneficial ownership reports that takes effect June 11, 2004, each FDIC-supervised registered bank that has not already done so must designate an FDICconnect Coordinator by completing the attached Designated Coordinator Registration form. This form requires an authorizing signature of an executive officer of the bank as defined by Section 215.2(e)(1) of Federal Reserve Regulation O. Please promptly complete this form and return it to the FDIC by one of the following methods:
As specified on the attached Designated Coordinator Registration form, the Designated Coordinator will be able to execute regulatory transactions and submit beneficial ownership report filings on behalf of the bank and its insiders. The Coordinator will also be authorized to provide access to the electronic Beneficial Ownership Filings system to other bank staff as well as to individuals not employed by the bank who need to file these reports. The FDIC will rely on the actions taken by the Coordinator and those users given access to the filing system by the Coordinator. Thus, it is important for the bank to carefully choose the Coordinator and to implement controls that address the operational risks inherent in on-line transactions. After a Designated Coordinator has been assigned and the FDIC has received the completed registration form, FDICconnect staff will provide that individual with technical guidance for using FDICconnect.
FDICconnect Technical Help Contact Information
For technical questions or problems relating to the use of FDICconnect or Designated Coordinator registration, please contact FDICconnect toll-free at 877-275-3342 or via e-mail at FDICconnect@fdic.gov.
Attachment: Designated Coordinator Registration Form
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