Submission for OMB Review; Comment Request, 12850 [E7-4897]

Download as PDF 12850 Federal Register / Vol. 72, No. 52 / Monday, March 19, 2007 / Notices unless it displays a currently valid control number. Written comments regarding the above information should be directed to the following persons: (i) Desk Officer for the Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503 or send an email to David_Rostker@omb.eop.gov; and (ii) R. Corey Booth, Director/Chief Information Officer, Securities and Exchange Commission, c/o Shirley Martinson, 6432 General Green Way, Alexandria, VA 22312; or send an email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: March 7, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–4896 Filed 3–16–07; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon written request copies available from: Securities and Exchange Commission, Office of Filing and Information Services, Washington, DC 20549. Extension: Rule 17Ad–10, SEC File No. 270– 265, OMB Control No. 3235–0273. ycherry on PROD1PC64 with NOTICES 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’’) has submitted to the Office of Management and Budget a request for extension of the previously approved collection of information discussed below. • Rule 17Ad–10: Prompt posting of certificate detail to master securityholder files, maintenance of accurate securityholder files, communications between co-transfer agents and recordkeeping transfer agents, maintenance of current control book, retention of certificate detail and ‘‘buy-in’’ of physical over-issuance Rule 17Ad–10 (17 CFR 240.17Ad–10), under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.), requires a registered transfer agent to create and maintain minimum information on securityholders’ ownership of an issue of securities for which it performs transfer agent functions, including the purchase, transfer and redemptions of VerDate Aug<31>2005 15:50 Mar 16, 2007 Jkt 211001 securities. In addition, the rule also requires transfer agents that maintain securityholder records to keep certificate detail that has been cancelled from those records for a minimum of six years and to maintain and keep current an accurate record of the number of shares or principle dollar amount of debt securities that the issuer has authorized to be outstanding (a ‘‘control book’’). These recordkeeping requirements assist in the creation and maintenance of accurate securityholder records, the ability to research errors, and ensure the transfer agent is aware of the number of securities that are properly authorized by the issuer, thereby avoiding overissuance. There are approximately 760 registered transfer agents. The staff estimates that the average number of hours necessary for each transfer agent to comply with Rule 17Ad–10 is approximately 20 hours per year, totalling 15,200 hours industry-wide. The average cost is approximately $50 per hour, with the industry-wide cost estimated at approximately $760,000. However, the information required by Rule 17Ad–10 generally already is maintained by registered transfer agents. The amount of time devoted to compliance with Rule 17Ad–10 varies according to differences in business activity. The retention period for the recordkeeping requirements under Rule 17Ad–10 is six years for certificate detail that has been cancelled and to maintain and keep current an accurate record of the number of shares or principle dollar amount of debt securities that the issuer has authorized to be outstanding. The recordkeeping requirement under Rule 17Ad–10 is mandatory to ensure accurate securityholder records and to assist the Commission and other regulatory agencies with monitoring transfer agents and ensuring compliance with the rule. This rule does not involve the collection of confidential information. Persons should note that an agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid control number. General comments regarding the estimated burden hours should be directed to the following persons: (i) Desk Officer for the Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503 or by sending an e-mail to: David_Rostker@omb.eop.gov; and (ii) R. Corey Booth, Director/Chief Information PO 00000 Frm 00099 Fmt 4703 Sfmt 4703 Officer, Securities and Exchange Commission, C/O Shirley Martinson, 6432 General Green Way, Alexandria, VA 22312 or by sending an e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: March 7, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–4897 Filed 3–16–07; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon written request, copies available from: Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549. 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’’) has submitted to the Office of Management and Budget a request for extension of the previously approved collection of information discussed below. • Rule 17Ad–13 Annual Study and Evaluation of Internal Accounting Control Rule 17Ad–13(17 CFR 240.17 Ad–13) requires approximately 200 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. 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 seventy-five hours annually. The total burden is 35,000 hours annually for transfer agents, based upon past submissions. The retention period for the recordkeeping requirement under Rule 17Ad–13 is three years following the E:\FR\FM\19MRN1.SGM 19MRN1

Agencies

[Federal Register Volume 72, Number 52 (Monday, March 19, 2007)]
[Notices]
[Page 12850]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-4897]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

Upon written request copies available from: Securities and Exchange 
Commission, Office of Filing and Information Services, Washington, DC 
20549.

Extension: Rule 17Ad-10, SEC File No. 270-265, OMB Control No. 3235-
0273.

    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'') has submitted to the Office of Management 
and Budget a request for extension of the previously approved 
collection of information discussed below.

 Rule 17Ad-10: Prompt posting of certificate detail to master 
securityholder files, maintenance of accurate securityholder files, 
communications between co-transfer agents and recordkeeping transfer 
agents, maintenance of current control book, retention of certificate 
detail and ``buy-in'' of physical over-issuance

    Rule 17Ad-10 (17 CFR 240.17Ad-10), under the Securities Exchange 
Act of 1934 (15 U.S.C. 78a et seq.), requires a registered transfer 
agent to create and maintain minimum information on securityholders' 
ownership of an issue of securities for which it performs transfer 
agent functions, including the purchase, transfer and redemptions of 
securities. In addition, the rule also requires transfer agents that 
maintain securityholder records to keep certificate detail that has 
been cancelled from those records for a minimum of six years and to 
maintain and keep current an accurate record of the number of shares or 
principle dollar amount of debt securities that the issuer has 
authorized to be outstanding (a ``control book''). These recordkeeping 
requirements assist in the creation and maintenance of accurate 
securityholder records, the ability to research errors, and ensure the 
transfer agent is aware of the number of securities that are properly 
authorized by the issuer, thereby avoiding overissuance.
    There are approximately 760 registered transfer agents. The staff 
estimates that the average number of hours necessary for each transfer 
agent to comply with Rule 17Ad-10 is approximately 20 hours per year, 
totalling 15,200 hours industry-wide. The average cost is approximately 
$50 per hour, with the industry-wide cost estimated at approximately 
$760,000. However, the information required by Rule 17Ad-10 generally 
already is maintained by registered transfer agents. The amount of time 
devoted to compliance with Rule 17Ad-10 varies according to differences 
in business activity.
    The retention period for the recordkeeping requirements under Rule 
17Ad-10 is six years for certificate detail that has been cancelled and 
to maintain and keep current an accurate record of the number of shares 
or principle dollar amount of debt securities that the issuer has 
authorized to be outstanding. The recordkeeping requirement under Rule 
17Ad-10 is mandatory to ensure accurate securityholder records and to 
assist the Commission and other regulatory agencies with monitoring 
transfer agents and ensuring compliance with the rule. This rule does 
not involve the collection of confidential information. Persons should 
note that an agency may not conduct or sponsor, and a person is not 
required to respond to, a collection of information unless it displays 
a currently valid control number.
    General comments regarding the estimated burden hours should be 
directed to the following persons: (i) Desk Officer for the Securities 
and Exchange Commission, Office of Information and Regulatory Affairs, 
Office of Management and Budget, Room 10102, New Executive Office 
Building, Washington, DC 20503 or by sending an e-mail to: David--
Rostker@omb.eop.gov; and (ii) R. Corey Booth, Director/Chief 
Information Officer, Securities and Exchange Commission, C/O Shirley 
Martinson, 6432 General Green Way, Alexandria, VA 22312 or by sending 
an e-mail to: PRA--Mailbox@sec.gov. Comments must be submitted to OMB 
within 30 days of this notice.

    Dated: March 7, 2007.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-4897 Filed 3-16-07; 8:45 am]
BILLING CODE 8010-01-P
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