Submission for OMB Review; Comment Request, 34280 [2018-15373]

Download as PDF 34280 Federal Register / Vol. 83, No. 139 / Thursday, July 19, 2018 / Notices 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 email to: Shagufta_ Ahmed@omb.eop.gov; and (ii) Pamela Dyson, Director/Chief Information Officer, Securities and Exchange Commission, c/o Candace Kenner, 100 F Street NE, Washington, DC 20549, or by sending an email to: PRA_Mailbox@ sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: July 13, 2018. Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018–15377 Filed 7–18–18; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 20549–2736 sradovich on DSK3GMQ082PROD with NOTICES Extension: Rules 17Ad–6 and 17Ad–7, SEC File No. 270–151, OMB Control No. 3235–0291 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 (‘‘OMB’’) a request for approval of extension of the existing collection of information provided for in the following rules: Rule 17Ad–6 (17 CFR 240.17Ad–6) and Rule 17Ad–7 (17 CFR 240.17Ad–7) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (‘‘Exchange Act’’). Rule 17Ad–6 under the Exchange Act requires every registered transfer agent to make and keep current records about a variety of information, such as: (1) Specific operational data regarding the time taken to perform transfer agent activities (to ensure compliance with the minimum performance standards in Rule 17Ad–2 (17 CFR 240.17Ad–2)); (2) written inquiries and requests by shareholders and broker-dealers and response time thereto; (3) resolutions, contracts, or other supporting documents concerning the appointment or termination of the transfer agent; (4) stop orders or notices of adverse claims to the securities; and (5) all canceled registered securities certificates. VerDate Sep<11>2014 17:34 Jul 18, 2018 Jkt 244001 Rule 17Ad–7 under the Exchange Act requires each registered transfer agent to retain the records specified in Rule 17Ad–6 in an easily accessible place for a period of six months to six years, depending on the type of record or document. Rule 17Ad–7 also specifies the manner in which records may be maintained using electronic, microfilm, and microfiche storage methods. These recordkeeping requirements are designed to ensure that all registered transfer agents are maintaining the records necessary for transfer agents to monitor and keep control over their own performance and for the Commission to adequately examine registered transfer agents on an historical basis for compliance with applicable rules. The Commission estimates that approximately 382 registered transfer agents will spend a total of 191,000 hours per year complying with Rules 17Ad–6 and 17Ad–7 (500 hours per year per transfer agent). The retention period under Rule 17Ad–7 for the recordkeeping requirements under Rule 17Ad–6 is six months to six years, depending on the particular record or document. The recordkeeping and retention requirements under Rules 17Ad–6 and 17Ad–7 are mandatory to assist the Commission and other regulatory agencies with monitoring transfer agents and ensuring compliance with the rules. These rules do not involve the collection of confidential information. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information under the PRA unless it displays a currently valid OMB control number. The public may view background documentation for this information collection at the following website: www.reginfo.gov. 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 email to: Shagufta_ Ahmed@omb.eop.gov; and (ii) Pamela Dyson, Director/Chief Information Officer, Securities and Exchange Commission, c/o Candace Kenner, 100 F Street NE, Washington, DC 20549, or by sending an email to: PRA_Mailbox@ sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: July 13, 2018. Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018–15373 Filed 7–18–18; 8:45 am] BILLING CODE 8011–01–P PO 00000 Frm 00183 Fmt 4703 Sfmt 4703 SECURITIES AND EXCHANGE COMMISSION 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 Extension: Regulation R, Rule 701, SEC File No. 270– 562, OMB Control No. 3235–0624 Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (‘‘PRA’’) (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 Regulation R, Rule 701 (17 CFR 247.701) 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. Regulation R, Rule 701 requires a broker or dealer (as part of a written agreement between the bank and the broker or dealer) to notify the bank if the broker or dealer makes certain determinations regarding the financial status of the customer, a bank employee’s statutory disqualification status, and compliance with suitability or sophistication standards. The Commission estimates that brokers or dealers would, on average, notify 1,000 banks approximately two times annually about a determination regarding a customer’s high net worth or institutional status or suitability or sophistication standing as well as a bank employee’s statutory disqualification status. Based on these estimates, the Commission anticipates that Regulation R, Rule 701 would result in brokers or dealers making approximately 2,000 notifications to banks per year. The Commission further estimates (based on the level of difficulty and complexity of the applicable activities) that a broker or dealer would spend approximately 15 minutes per notice to a bank. Therefore, the estimated total annual third party disclosure burden for the requirements in Regulation R, Rule 701 is 500 1 hours for brokers or dealers. 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; 1 (2000 notices × 15 minutes) = 30,000 minutes/ 60 minutes = 500 hours. E:\FR\FM\19JYN1.SGM 19JYN1

Agencies

[Federal Register Volume 83, Number 139 (Thursday, July 19, 2018)]
[Notices]
[Page 34280]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-15373]


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SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 
20549-2736

Extension:
    Rules 17Ad-6 and 17Ad-7, SEC File No. 270-151, OMB Control No. 
3235-0291

    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 
(``OMB'') a request for approval of extension of the existing 
collection of information provided for in the following rules: Rule 
17Ad-6 (17 CFR 240.17Ad-6) and Rule 17Ad-7 (17 CFR 240.17Ad-7) under 
the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (``Exchange 
Act'').
    Rule 17Ad-6 under the Exchange Act requires every registered 
transfer agent to make and keep current records about a variety of 
information, such as: (1) Specific operational data regarding the time 
taken to perform transfer agent activities (to ensure compliance with 
the minimum performance standards in Rule 17Ad-2 (17 CFR 240.17Ad-2)); 
(2) written inquiries and requests by shareholders and broker-dealers 
and response time thereto; (3) resolutions, contracts, or other 
supporting documents concerning the appointment or termination of the 
transfer agent; (4) stop orders or notices of adverse claims to the 
securities; and (5) all canceled registered securities certificates.
    Rule 17Ad-7 under the Exchange Act requires each registered 
transfer agent to retain the records specified in Rule 17Ad-6 in an 
easily accessible place for a period of six months to six years, 
depending on the type of record or document. Rule 17Ad-7 also specifies 
the manner in which records may be maintained using electronic, 
microfilm, and microfiche storage methods.
    These recordkeeping requirements are designed to ensure that all 
registered transfer agents are maintaining the records necessary for 
transfer agents to monitor and keep control over their own performance 
and for the Commission to adequately examine registered transfer agents 
on an historical basis for compliance with applicable rules.
    The Commission estimates that approximately 382 registered transfer 
agents will spend a total of 191,000 hours per year complying with 
Rules 17Ad-6 and 17Ad-7 (500 hours per year per transfer agent).
    The retention period under Rule 17Ad-7 for the recordkeeping 
requirements under Rule 17Ad-6 is six months to six years, depending on 
the particular record or document. The recordkeeping and retention 
requirements under Rules 17Ad-6 and 17Ad-7 are mandatory to assist the 
Commission and other regulatory agencies with monitoring transfer 
agents and ensuring compliance with the rules. These rules do not 
involve the collection of confidential information.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information under the PRA unless it 
displays a currently valid OMB control number.
    The public may view background documentation for this information 
collection at the following website: www.reginfo.gov. 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 email to: 
[email protected]; and (ii) Pamela Dyson, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Candace 
Kenner, 100 F Street NE, Washington, DC 20549, or by sending an email 
to: [email protected]. Comments must be submitted to OMB within 30 
days of this notice.

    Dated: July 13, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-15373 Filed 7-18-18; 8:45 am]
 BILLING CODE 8011-01-P
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