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DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION

 

029   BUREAU OF FINANCIAL INSTITUTIONS
Chapter 141 (Regulation 41)

 

ASSESSMENTS – NONDEPOSITORY TRUST COMPANIES, UNINSURED BANKS AND MERCHANT BANKS

Statement of Impact on Small Business

Prepared pursuant to 5 MRSA §8052, sub-§5-A

  1. Identification of the types and an estimate of the number of the small businesses subject to the proposed amended rule, Chapter 141):

There are only 8 non-depository trust companies that are currently subject to this rule.  Of these 8 non-depository trust companies, 3 are based outside of Maine.

  1. Projected Reporting, record-keeping and other administrative costs required for compliance with proposed amended rule, Chapter 141, including the type of professional skill necessary for preparation of the report or record:

The proposed amended rule does not provide for any additional projected reporting by the industry.  Furthermore, the proposed amended rule does not prescribe any additional recordkeeping and thus will not require any additional professional skill necessary for the preparation of a report or record.   

  1. Brief statement of the probable impact on affected small businesses:

The impact on the 8 non-depository trust companies that are currently subject to this rule is set forth in the rule itself.  The increased assessments reflected in the amendments reflect the costs of training examiners for these types of specialized exams, as well as the costs to the Bureau of general supervision of these types of organizations.  It is anticipated that the competitive impact on the regulated industry will be small.     

  1. Description of any less intrusive or less costly, reasonable alternative methods of achieving the purposes of proposed amended rule, Chapter 141:

There are no less intrusive or less costly, reasonable alternative methods of achieving the purposes of proposed amended rule, Chapter 141.

 

 

Last Updated: June 5, 2013