Justia Regulation Tracker

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[Federal Register: November 6, 2009 (Volume 74, Number 214)]
[Notices]               
[Page 57540]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr06no09-103]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549-0213.

Extension:
    Rule 17Ad-13; SEC File No. 270-263; OMB Control No. 3235-0275.

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange 
Commission (``Commission'') is soliciting comments on the existing 
collection of information provided for in Rule 17Ad-13 (17 CFR 
240.17Ad-13) under the Securities Exchange Act of 1934 (15 U.S.C. 78a 
et seq.) (``Exchange Act''). The Commission plans to submit this 
existing collection of information to the Office of Management and 
Budget for extension and approval.
    Rule 17Ad-13 requires approximately 150 registered transfer agents 
to obtain an annual report on the adequacy of internal accounting 
controls. In addition, transfer agents must maintain copies of any 
reports prepared pursuant to Rule 17Ad-13 plus any documents prepared 
to notify the Commission and appropriate regulatory agencies in the 
event that the transfer agent is required to take any corrective 
action. The retention period for the report is three years following 
the date of the report. These recordkeeping requirements assist the 
Commission and other regulatory agencies with monitoring transfer 
agents and ensuring compliance with the rule. Small transfer agents are 
exempt from Rule 17Ad-13.
    The staff estimates that the average number of hours necessary for 
each transfer agent to comply with Rule 17Ad-13 is one-hundred fifty 
hours annually. The total burden is 18,000 hours annually for transfer 
agents, based upon past submissions. The staff estimates that the 
average cost per hour is approximately $60. Therefore, the total cost 
of compliance for transfer agents is $1,080,000.
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information 
shall have practical utility; (b) the accuracy of the Commission's 
estimates of the burden of the proposed collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; and (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology. 
Consideration will be given to comments and suggestions submitted in 
writing within 60 days of this publication.
    Comments should be directed to Charles Boucher, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Shirley 
Martinson, 6432 General Green Way, Alexandria, VA 22312 or send an e-
mail to: PRA_Mailbox@sec.gov.

    Dated: October 23, 2009.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-26753 Filed 11-5-09; 8:45 am]

BILLING CODE 8011-01-P

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