measure achievement of this phase's objective. Some of the steps that are intended to be accomplished during this phase are: --defining the specific data desired and developing the format for getting it --determining whether the desired product can be obtained --obtaining estimates of cost to obtain the report both --performing a preliminary cost benefit analysis to get --determining if the information desired will duplicate --considering the usefulness of the data to other Federal --exploring alternative sources for and methods of obtaining requested data, including that which is available commercially. Following completion of these steps, the requirement development enters the development phase. Development Phase* During this phase, the proposed requirement is publicized for the purpose of soliciting comments from interested parties. Upon receipt and evaluation of the comments, changes frequently are made and a decision as to whether the requirement should be adopted is made. This process may be repeated several times before a requirement is finally adopted or dropped. * GAO Clearance--at the end of the development phase, the requirement should be in final form and have approval of the agency head or the agency official delegated approval responsibility. Once this approval has been granted, the proposal is submitted to GAO requesting review and clearance. Some of the specific agency actions expected to be done during this phase are: --soliciting and considering comments of the affected and --considering the desirability of field-testing the require ment --preparing a cost/benefit analysis specifically evaluating the public interest value of the product being sought against the private interests of the respondents. The culmination of the foregoing processes is the formal adoption of the requirements for data. The quality of the actions taken during the earlier processes can be partially measured by the extent and seriousness of questions raised and the significance of problems encountered by the respondents in the course of formal compliance. Therefore the agency analyzes the problems and complaints and seeks face-to-face discussions with respondents and users to better understand the problems and considers steps to resolve them. EVALUATION AND REASSESSMENT Most agencies require some form of periodic evaluation and reassessment of data requirements although there appears to be little in the way of formal procedures for this function. Our discussions elicited information that such reviews are intended to ascertain whether the process is functioning in accordance with the agency's policies, plans, and procedures and is effective. Presumably, based upon these reassessments, decisions are made to either continue requesting and obtaining the information; modify the existing reporting requirements and reports to meet the agency's current needs; consolidate the reports providing essentially the same or similar information; or eliminate the reporting requirement altogether. Some agencies have used "outside" advisory groups to review reporting and other paperwork requirement problems and to offer recommendations to commissions to improve performance and lessen burden. APPENDIX List of Independent Federal Regulatory Agencies for Which the General Accounting Office has Responsibility for Reviewing the Information-Gathering Activities Atomic Energy Commission (AEC) Civil Aeronautics Board (CAB) Consumer Product Safety Commission (CPSC) Equal Employment Opportunity Commission (EEOC) Federal Communications Commission (FCC) Federal Energy Administration (FEA) Federal Maritime Commission (FMC) Federal Power Commission (FPC) Federal Trade Commission (FTC) Interstate Commerce Commission (ICC) National Labor Relations Board (MLRB) Securities and Exchange Commission (SEC) VPC PROPOSED REVISION OF REPORTING REQUIREMENTS REGARDING OFFICERSHIPS OR DIRECTORSHIPS HELD BY DIRECTORS OF REPORTING COMPANIES [18 CFR Parts 141, 260] [Docket No. RM75–7] SCHEDULE PAGES 104, AND 105, ANNUAL REPORT FORMS No. 1 And No. 2 PROPOSED AMENDMENTS August 29, 1974. Pursuant to 5 U.S.C. 553, sections 3, 4, 301, 304, and 309 of the Federal Power Act (41 Stat. 1063, 1064, 1065, 1066; 46 Stat. 798; 49 Stat. 838, 839, 840, 841, 854, 855, 856, 858, 859; 61 Stat. 501; 16 U.S.C. 796, 797, 825, 825c, 825h) and sections 8, 10, and 15 U.S.C. 717g, 717i, 7170) of the Natural Gas Act, the Commission gives notice it proposes to amend, effective January 1, 1974: A. Certain schedules of FPC Form No. 1, Annual Report for Electric Utilities, Licensees and Other (Class A and Class B) prescribed by 18 CFR 141.1. B. Certain schedules of FPC Form No. 2, Annual Report for Natural Gas Companies (Class A and Class B) prescribed by 18 CFR 260.1.1 The provisions of this rulemaking would: Revise instruction 7 on schedule page 104, Officers, and add a new instruction 8 to require disclosure of all officerships or directorships held by officers of the reporting company. Revise instruction 2 and add two new instructions 4 and 5 on schedule page 105, Directors, to require disclosure of all officerships or directorships held by directors of the reporting company. The proposed reporting requirements will basically be the same for both officers and directors as follows: 7. (4) Where an officer (director) holds an officership or directorship in another company (or companies), furnish an explanation to include the name and the primary business of the other company, the position held and the nature and extent of transactions between the respondent and the other company (s) during the year. 8. (5) Where an officer (director) maintains a controlling interest or 10 percent or more of the common stock of a company in which he is not an officer or director, disclose in column (e) [(g)] the name and primary business of the other company, and describe the means of control and the nature and extent of transactions between the respondent and the other company (s) during the year. Our present reporting requirements may not provide adequate disclosure of interlocking officerships and directorships between a regulated company and other companies that may have current or future business relationships with the regulated company. We are proposing that all such interlocking positions be fully disclosed so as to enable this Commission, in carrying out its regulatory responsibilities, and for stockholders, consumers, and the public in general to be cognizant of the possible influence that might be exercised over business operations of the regulated companies by virtue of the interlocking positions. Any interested person may submit to the Federal Power Commission, Washington, D.C. 20426, not later than October 16, 1974, data, views, comments, or suggestions in writing concerning all or part of the proposed revised report forms. Written submittals will be placed in the Commission's public files and will be available for public inspection at the Commission's Office of Public Information, Washington, D.C. 20426, during regular business hours. The Commission will consider all such written submittals before acting on the matters herein proposed. An original and 14 conformed copies should be filed with the Secretary of the Commission. Submittals to the Commission should indicate the name, title, mailing address, and telephone number of the person to whom communications concerning the proposal should be addressed, and whether the person filing them requests a conference with the staff of the Federal Power Commission to discuss the proposed revisions. The staff, in its discretion, may grant or deny requests for conference. 1 Attachment filed as part of original document. 1 Attachments A, B, and C filed as part of the original document. |