Proposed Collection; Comment Request, 46336 [2011-19531]
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46336
Federal Register / Vol. 76, No. 148 / Tuesday, August 2, 2011 / Notices
Information Officer, Securities and
Exchange Commission, c/o Remi PavlikSimon, 6432 General Green Way,
Alexandria, Virginia 22312; or send an
e-mail to: PRA_Mailbox@sec.gov.
Dated: July 27, 2011.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011–19457 Filed 8–1–11; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Proposed Collection; 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–17; OMB Control No. 3235–
0469; SEC File No. 270–412.
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 collection of information
summarized below. The Commission
plans to submit this existing collection
of information to the Office of
Management and Budget for extension
and approval.
• Rule 17Ad–17 Transfer Agents’
Obligation to Search for Lost
Securityholders.
• Rule 17Ad–17 Brokers and
Dealers’ Obligation to Search for Lost
Securityholders.
• Rule 17Ad–17 Paying Agents’
Obligation to Notify Missing
Securityholders.
Rule 17Ad–17 (17 CFR 240.17Ad–17)
requires approximately 508 registered
transfer agents and approximately 5,063
broker-dealers to conduct searches using
third party database vendors to attempt
to locate lost securityholders. These
recordkeeping requirements assist the
Commission and other regulatory
agencies with monitoring transfer agents
and ensuring compliance with the rule.
The staff estimates that the average
number of hours necessary for each
transfer agent to comply with Rule
17Ad–17 is ten hours annually. The
total burden is approximately 5,080
hours annually for all transfer agents
(508 transfer agents times 10 hours). The
cost of compliance for each individual
transfer agent depends on the number of
lost securityholder accounts for which it
is responsible. Based on information
received from transfer agents, we
VerDate Mar<15>2010
15:03 Aug 01, 2011
Jkt 223001
estimate that the annual cost industrywide for transfer agents is $5.08 million
(5,080 hours times $100). The staff
estimates that the average number of
hours necessary for each broker and
dealer to comply with Rule 17Ad–17 is
98.8 hours annually (500,000 searches
divided by 5,063 brokers and dealers).
The cost of compliance for each broker
and dealer will depend on the number
of lost securityholder accounts for
which it is responsible. The staff
estimates that the annual cost industrywide for brokers and dealers is $9.88
million (98.8 hours times $100).
The staff estimates that the average
number of hours necessary for each
paying agent to comply with Rule
17Ad–17 is 50 hours annually. The total
burden is approximately 5,000 hours
annually for all paying agents (1,000
paying agents times 50 hours). The cost
of compliance for each individual
paying agent depends on the number of
missing securityholder accounts for
which it is responsible. The staff
estimates that the annual cost industrywide for paying agents is $500,000
(5,000 hours times $100).
Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information shall have practical utility;
(b) the accuracy of the agency’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:
Thomas Bayer, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Remi PavlikSimon, 6432 General Green Way,
Alexandria, Virginia 22312 or send an email to: PRA_Mailbox@sec.gov.
Dated: July 28, 2011.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011–19531 Filed 8–1–11; 8:45 am]
BILLING CODE 8011–01–P
PO 00000
Frm 00070
Fmt 4703
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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 20549–0123.
Extension:
Form 4 ; OMB Control No. 3235–0287; SEC
File No. 270–126.
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 collection of information
summarized below. The Commission
plans to submit this existing collection
of information to the Office of
Management and Budget for extension
and approval.
Under Section 16(a) of the Securities
Exchange Act of 1934 (‘‘Exchange Act’’)
(15 U.S.C. 78a et seq.) every person who
is directly or indirectly the beneficial
owner of more than 10 percent of any
class of any equity security (other than
an exempted security) which registered
under Section 12 of the Exchange Act
(15 U.S.C. 78l), or who is a director or
an officer of the issuer of such security
(collectively ‘‘insiders’’), must file a
statement with the Commission
reporting their ownership. Form 4 is a
statement to disclose changes in an
insiders ownership of securities. The
information is used for the purpose of
disclosing the equity holdings of
insiders of reporting companies.
Approximately 225,000 insiders file
Form 4 annually and it takes
approximately 0.5 hours to prepare for
a total of 112,500 annual burden hours.
Written comments are invited on: (a)
Whether this proposed collections of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information will have practical utility;
(b) the accuracy of the agency’s estimate
of the burden imposed by the
collections of information; (c) ways to
enhance the quality, utility, and clarity
of the information collected; and (d)
ways to minimize the burden of the
collections 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.
Please direct your written comments
to Thomas Bayer, Director/Chief
E:\FR\FM\02AUN1.SGM
02AUN1
]]>Agencies
[Federal Register Volume 76, Number 148 (Tuesday, August 2, 2011)]
[Notices]
[Page 46336]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-19531]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Proposed Collection; 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-17; OMB Control No. 3235-0469; SEC File No. 270-412.
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 collection of
information summarized below. The Commission plans to submit this
existing collection of information to the Office of Management and
Budget for extension and approval.
Rule 17Ad-17 Transfer Agents' Obligation to Search for
Lost Securityholders.
Rule 17Ad-17 Brokers and Dealers' Obligation to Search for
Lost Securityholders.
Rule 17Ad-17 Paying Agents' Obligation to Notify Missing
Securityholders.
Rule 17Ad-17 (17 CFR 240.17Ad-17) requires approximately 508
registered transfer agents and approximately 5,063 broker-dealers to
conduct searches using third party database vendors to attempt to
locate lost securityholders. These recordkeeping requirements assist
the Commission and other regulatory agencies with monitoring transfer
agents and ensuring compliance with the rule.
The staff estimates that the average number of hours necessary for
each transfer agent to comply with Rule 17Ad-17 is ten hours annually.
The total burden is approximately 5,080 hours annually for all transfer
agents (508 transfer agents times 10 hours). The cost of compliance for
each individual transfer agent depends on the number of lost
securityholder accounts for which it is responsible. Based on
information received from transfer agents, we estimate that the annual
cost industry-wide for transfer agents is $5.08 million (5,080 hours
times $100). The staff estimates that the average number of hours
necessary for each broker and dealer to comply with Rule 17Ad-17 is
98.8 hours annually (500,000 searches divided by 5,063 brokers and
dealers). The cost of compliance for each broker and dealer will depend
on the number of lost securityholder accounts for which it is
responsible. The staff estimates that the annual cost industry-wide for
brokers and dealers is $9.88 million (98.8 hours times $100).
The staff estimates that the average number of hours necessary for
each paying agent to comply with Rule 17Ad-17 is 50 hours annually. The
total burden is approximately 5,000 hours annually for all paying
agents (1,000 paying agents times 50 hours). The cost of compliance for
each individual paying agent depends on the number of missing
securityholder accounts for which it is responsible. The staff
estimates that the annual cost industry-wide for paying agents is
$500,000 (5,000 hours times $100).
Written comments are invited on: (a) Whether the proposed
collection of information is necessary for the proper performance of
the functions of the agency, including whether the information shall
have practical utility; (b) the accuracy of the agency'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: Thomas Bayer, Director/Chief
Information Officer, Securities and Exchange Commission, c/o Remi
Pavlik-Simon, 6432 General Green Way, Alexandria, Virginia 22312 or
send an e-mail to: PRA_Mailbox@sec.gov.
Dated: July 28, 2011.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-19531 Filed 8-1-11; 8:45 am]
BILLING CODE 8011-01-P
