Submission for OMB Review; Comment Request, 42707 [E9-20188]
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Federal Register / Vol. 74, No. 162 / Monday, August 24, 2009 / Notices
SECURITIES AND EXCHANGE
COMMISSION
Submission for OMB Review;
Comment Request
Upon Written Request, Copies Available
From: U.S. Securities and Exchange
Commission, Office of Investor
Education and Advocacy,
Washington, DC 20549–0213.
erowe on DSK5CLS3C1PROD with NOTICES
Extension:
Rule 17Ad–15, OMB Control No. 3235–
0409, SEC File No. 270–360.
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 the following rule: Rule
17a–10 (17 CFR 240.17Ad–15) under the
Securities Exchange Act of 1934 (15
U.S.C. 78a et seq.). The Commission
plans to submit this existing collection
of information to the Office of
Management and Budget for extension
and approval.
Rule 17Ad–15 requires approximately
587 transfer agents to establish written
standards for accepting and rejecting
guarantees of securities transfers from
eligible guarantor institutions. Transfer
agents are also required to establish
procedures to ensure that those
standards are used by the transfer agent
to determine whether to accept or reject
guarantees from eligible guarantor
institutions. Transfer agents must
maintain, for a period of three years
following the date of a rejection of
transfer, a record of all transfers
rejected, along with the reason for the
rejection, identification of the guarantor,
and whether the guarantor failed to
meet the transfer agent’s guarantee
standard. These recordkeeping
requirements assist the Commission and
other regulatory agencies with
monitoring transfer agents and ensuring
compliance with the rule.
There are approximately 587
registered transfer agents. The staff
estimates that every transfer agent will
spend about 40 hours annually to
comply with Rule 17Ad–15. The total
annual burden for all transfer agents is
23,480 hours (587 times 40). The
average cost per hour is approximately
$50. Therefore, the total cost of
compliance for all transfer agents is
$1,174,000 (23,480 times $50).
Comments should be directed to: (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
VerDate Nov<24>2008
15:04 Aug 21, 2009
Jkt 217001
sending an e-mail to:
shagufta_ahmed@omb.eop.gov; and (ii)
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. Comments
must be submitted within 30 days of
this notice.
Dated: August 17, 2009.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–20188 Filed 8–21–09; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
Submission for OMB Review;
Comment Request
Upon written request, copies available
from: U.S. Securities and Exchange
Commission, Office of Investor
Education and Advocacy,
Washington, DC 20549–0213.
Extension: Rule 17f–1(c) and Form X–17F–
1A; SEC File No. 270–29; OMB Control
No. 3235–0037.
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 approval of extension of the
existing collection of information
provided for in the following rule: Rule
17f–1(c) and Form X–17F–IA (17 CFR
249.100) under the Securities Exchange
Act of 1934 (15 U.S.C. 78a et seq. ).
Rule 17f–1(c) (17 CFR 240.17f–1(c))
under the Securities Exchange Act of
1934 (15 U.S.C. 78a et seq. ) requires
approximately 26,000 entities in the
securities industry to report lost, stolen,
missing, or counterfeit securities
certificates to the Commission or its
designee, to a registered transfer agent
for the issue, and, when criminal
activity is suspected, to the Federal
Bureau of Investigation. Such entities
are required to use Form X–17F–1A to
make such reports. Filing these reports
fulfills a statutory requirement that
reporting institutions report and inquire
about missing, lost, counterfeit, or
stolen securities. Since these reports are
compiled in a central database, the rule
facilitates reporting institutions to
access the database that stores
information for the Lost and Stolen
Securities Program.
We estimate that 26,000 reporting
institutions will report that securities
certificates are either missing, lost,
PO 00000
Frm 00064
Fmt 4703
Sfmt 4703
42707
counterfeit, or stolen annually and that
each reporting institution will submit
this report 50 times each year. The staff
estimates that the average amount of
time necessary to comply with Rule
17f–1(c) and Form X17F–1A is five
minutes per submission. The total
burden is 108,333 hours annually for
the entire industry (26,000 times 50
times 5 divided by 60).
Rule 17f–1(c) is a reporting rule and
does not specify a retention period. The
rule requires an incident-based
reporting requirement by the reporting
institutions when securities certificates
are discovered to be missing, lost,
counterfeit, or stolen. Registering under
Rule 17f–1(c) is mandatory to obtain the
benefit of a central database that stores
information about missing, lost,
counterfeit, or stolen securities for the
Lost and Stolen Securities Program.
Reporting institutions required to
register under Rule 17f-1(c) will not be
kept confidential; however, the Lost and
Stolen Securities Program database will
be kept confidential. Please 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.
Comments should be directed to: (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:
shagufta_ahmed@omb.eop.gov; and (ii)
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. Comments
must be submitted within 30 days of
this notice.
Dated: August 17, 2009.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–20189 Filed 8–21–09; 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 Investor
Education and Advocacy,
Washington, DC 20549–0213.
Extension: Form F–80, OMB Control No.
E:\FR\FM\24AUN1.SGM
24AUN1
]]>Agencies
[Federal Register Volume 74, Number 162 (Monday, August 24, 2009)]
[Notices]
[Page 42707]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-20188]
[[Page 42707]]
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SECURITIES AND EXCHANGE COMMISSION
Submission for OMB Review; Comment Request
Upon Written Request, Copies Available From: U.S. Securities and
Exchange Commission, Office of Investor Education and Advocacy,
Washington, DC 20549-0213.
Extension:
Rule 17Ad-15, OMB Control No. 3235-0409, SEC File No. 270-360.
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 the following rule: Rule 17a-10 (17 CFR
240.17Ad-15) under the Securities Exchange Act of 1934 (15 U.S.C. 78a
et seq.). The Commission plans to submit this existing collection of
information to the Office of Management and Budget for extension and
approval.
Rule 17Ad-15 requires approximately 587 transfer agents to
establish written standards for accepting and rejecting guarantees of
securities transfers from eligible guarantor institutions. Transfer
agents are also required to establish procedures to ensure that those
standards are used by the transfer agent to determine whether to accept
or reject guarantees from eligible guarantor institutions. Transfer
agents must maintain, for a period of three years following the date of
a rejection of transfer, a record of all transfers rejected, along with
the reason for the rejection, identification of the guarantor, and
whether the guarantor failed to meet the transfer agent's guarantee
standard. These recordkeeping requirements assist the Commission and
other regulatory agencies with monitoring transfer agents and ensuring
compliance with the rule.
There are approximately 587 registered transfer agents. The staff
estimates that every transfer agent will spend about 40 hours annually
to comply with Rule 17Ad-15. The total annual burden for all transfer
agents is 23,480 hours (587 times 40). The average cost per hour is
approximately $50. Therefore, the total cost of compliance for all
transfer agents is $1,174,000 (23,480 times $50).
Comments should be directed to: (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: shagufta_ahmed@omb.eop.gov; and (ii) 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. Comments must be submitted within 30 days of this
notice.
Dated: August 17, 2009.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-20188 Filed 8-21-09; 8:45 am]
BILLING CODE 8010-01-P
