Submission for OMB Review; Comment Request, 42707 [E9-20189]

Download as PDF 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: E9-20189]


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

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, 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
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.