Sunshine Act Meeting, 67819 [2015-28027]
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Federal Register / Vol. 80, No. 212 / Tuesday, November 3, 2015 / Notices
provided for in Rule 17Ad–16 (17 CFR
240.17Ad–16) 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
(‘‘OMB’’) for extension and approval.
Rule 17Ad–16 requires a registered
transfer agent to provide written notice
to the appropriate qualified registered
securities depository when assuming or
terminating transfer agent services on
behalf of an issuer or when changing its
name or address. In addition, transfer
agents that provide such notice shall
maintain such notice for a period of at
least two years in an easily accessible
place. This rule addresses the problem
of certificate transfer delays caused by
transfer requests that are directed to the
wrong transfer agent or the wrong
address.
We estimate that the transfer agent
industry submits 6,970 Rule 17Ad–16
notices to appropriate qualified
registered securities depositories. The
staff estimates that the average amount
of time necessary to create and submit
each notice is approximately 15 minutes
per notice. Accordingly, the estimated
total industry burden is 1,743 hours per
year (15 minutes multiplied by 6,970
notices filed annually).
Because the information needed by
transfer agents to properly notify the
appropriate registered securities
depository is readily available to them
and the report is simple and
straightforward, the cost is relatively
minimal. The average internal
compliance cost to prepare and send a
notice is approximately $7.50 (15
minutes at $30 per hour). This yields an
industry-wide internal compliance cost
estimate of $52,275 (6,970 notices
multiplied by $7.50 per notice).
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 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.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
VerDate Sep<11>2014
18:04 Nov 02, 2015
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under the PRA unless it displays a
currently valid OMB control number.
Please direct your written comments
to: Pamela Dyson, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Remi PavlikSimon, 100 F Street NE., Washington,
DC 20549, or send an email to: PRA_
Mailbox@sec.gov.
Dated: October 28, 2015.
Robert W. Errett,
Deputy Secretary.
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Sunshine Act Meeting
Notice is hereby given, pursuant to
the provisions of the Government in the
Sunshine Act, Public Law 94–409, that
the Securities and Exchange
Commission will hold a Closed Meeting
on Thursday, November 5, 2015 at 2
p.m.
Commissioners, Counsel to the
Commissioners, the Secretary to the
Commission, and recording secretaries
will attend the Closed Meeting. Certain
staff members who have an interest in
the matters also may be present.
The General Counsel of the
Commission, or her designee, has
certified that, in her opinion, one or
more of the exemptions set forth in 5
U.S.C. 552b(c)(3), (5), (7), 9(B) and (10)
and 17 CFR 200.402(a)(3), (5), (7), 9(ii)
and (10), permit consideration of the
scheduled matter at the Closed Meeting.
Commissioner Piwowar, as duty
officer, voted to consider the items
listed for the Closed Meeting in closed
session.
The subject matter of the Closed
Meeting will be:
Institution and settlement of
injunctive actions;
Institution and settlement of
administrative proceedings;
Adjudicatory matters;
Resolution of litigation claims; and
Other matters relating to enforcement
proceedings.
At times, changes in Commission
priorities require alterations in the
scheduling of meeting items.
For further information and to
ascertain what, if any, matters have been
added, deleted or postponed, please
contact the Office of the Secretary at
(202) 551–5400.
Dated: October 29, 2015.
Robert W. Errett,
Deputy Secretary.
Frm 00122
Fmt 4703
Sfmt 4703
Proposed Collection; Comment
Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE., Washington, DC
20549–2736.
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 collection of
information to the Office of
Management and Budget (‘‘OMB’’) for
extension and approval.
Rule 206(4)–2 (17 CFR 275.206(4)–2)
under the Investment Advisers Act of
1940 (15 U.S.C. 80b–1 et seq.) governs
the custody of funds or securities of
clients by Commission-registered
investment advisers. Rule 206(4)–2
requires each registered investment
adviser that has custody of client funds
or securities to maintain those client
funds or securities with a broker-dealer,
bank or other ‘‘qualified custodian.’’ 1
The rule requires the adviser to
promptly notify clients as to the place
and manner of custody, after opening an
account for the client and following any
changes.2 If an adviser sends account
statements to its clients, it must insert
a legend in the notice and in subsequent
account statements sent to those clients
urging them to compare the account
statements from the custodian with
those from the adviser.3 The adviser
also must have a reasonable basis, after
due inquiry, for believing that the
qualified custodian maintaining client
funds and securities sends account
statements directly to the advisory
clients, and undergo an annual surprise
examination by an independent public
accountant to verify client assets
pursuant to a written agreement with
the accountant that specifies certain
duties.4 Unless client assets are
maintained by an independent
custodian (i.e., a custodian that is not
the adviser itself or a related person),
the adviser also is required to obtain or
receive a report of the internal controls
relating to the custody of those assets
from an independent public accountant
1 Rule
206(4)–2(a)(1).
206(4)–2(a)(2).
3 Rule 206(4)–2(a)(2).
4 Rule 206(4)–2(a)(3), (4).
2 Rule
[FR Doc. 2015–28027 Filed 10–30–15; 11:15 am]
PO 00000
SECURITIES AND EXCHANGE
COMMISSION
Extension: Rule 206(4)–2; SEC File No. 270–
217, OMB Control No. 3235–0241.
[FR Doc. 2015–27905 Filed 11–2–15; 8:45 am]
BILLING CODE 8011–01–P
67819
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]]>Agencies
[Federal Register Volume 80, Number 212 (Tuesday, November 3, 2015)]
[Notices]
[Page 67819]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-28027]
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SECURITIES AND EXCHANGE COMMISSION
Sunshine Act Meeting
Notice is hereby given, pursuant to the provisions of the
Government in the Sunshine Act, Public Law 94-409, that the Securities
and Exchange Commission will hold a Closed Meeting on Thursday,
November 5, 2015 at 2 p.m.
Commissioners, Counsel to the Commissioners, the Secretary to the
Commission, and recording secretaries will attend the Closed Meeting.
Certain staff members who have an interest in the matters also may be
present.
The General Counsel of the Commission, or her designee, has
certified that, in her opinion, one or more of the exemptions set forth
in 5 U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) and 17 CFR
200.402(a)(3), (5), (7), 9(ii) and (10), permit consideration of the
scheduled matter at the Closed Meeting.
Commissioner Piwowar, as duty officer, voted to consider the items
listed for the Closed Meeting in closed session.
The subject matter of the Closed Meeting will be:
Institution and settlement of injunctive actions;
Institution and settlement of administrative proceedings;
Adjudicatory matters;
Resolution of litigation claims; and
Other matters relating to enforcement proceedings.
At times, changes in Commission priorities require alterations in
the scheduling of meeting items.
For further information and to ascertain what, if any, matters have
been added, deleted or postponed, please contact the Office of the
Secretary at (202) 551-5400.
Dated: October 29, 2015.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-28027 Filed 10-30-15; 11:15 am]
BILLING CODE 8011-01-P
