Proposed Collection; Comment Request, 53686 [2018-23203]
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53686
Federal Register / Vol. 83, No. 206 / Wednesday, October 24, 2018 / Notices
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
amozie on DSK3GDR082PROD with NOTICES1
Extension:
Rule 17Ad–4(b) & (c), SEC File No. 270–
264, OMB Control No. 3235–0341.
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
17Ad–4(b) & (c) under the Securities
Exchange Act of 1934 (15 U.S.C. 78a et
seq.) (‘‘Exchange Act’’). The
Commission plans to submit this
existing collection of information to the
Office of Management and Budget
(‘‘OMB’’) for extension and approval.
Rule 17Ad–4(b) & (c) (17 CFR
240.17Ad–4) is used to document when
transfer agents are exempt, or no longer
exempt, from the minimum
performance standards and certain
recordkeeping provisions of the
Commission’s transfer agent rules.
Pursuant to Rule 17Ad–4(b), if the
Commission or the Office of the
Comptroller of the Currency (‘‘OCC’’) is
the appropriate regulatory authority
(‘‘ARA’’) for an exempt transfer agent,
that transfer agent is required to prepare
and maintain in its possession a notice
certifying that it is exempt from certain
performance standards and
recordkeeping and record retention
provisions of the Commission’s transfer
agent rules. This notice need not be
filed with the Commission or OCC. If
the Board of Governors of the Federal
Reserve System (‘‘Fed’’) or the Federal
Deposit Insurance Corporation (‘‘FDIC’’)
is the transfer agent’s ARA, that transfer
agent must prepare a notice and file it
with the Fed or FDIC.
Rule 17Ad–4(c) sets forth the
conditions under which a registered
transfer agent loses its exempt status.
Once the conditions for exemption no
longer exist, the transfer agent, to keep
the appropriate ARA apprised of its
current status, must prepare, and file if
the ARA for the transfer agent is the Fed
or the FDIC, a notice of loss of exempt
status under paragraph (c). The transfer
agent then cannot claim exempt status
under Rule 17Ad–4(b) again until it
remains subject to the minimum
performance standards for non-exempt
VerDate Sep<11>2014
17:43 Oct 23, 2018
Jkt 247001
transfer agents for six consecutive
months.
ARAs use the information contained
in the notices required by Rules 17Ad–
4(b) and 17Ad–4(c) to determine
whether a registered transfer agent
qualifies for the exemption, to
determine when a registered transfer
agent no longer qualifies for the
exemption, and to determine the extent
to which that transfer agent is subject to
regulation.
The Commission estimates that
approximately 10 registered transfer
agents each year prepare or file notices
in compliance with Rules 17Ad–4(b)
and 17Ad–4(c). The Commission
estimates that each such registered
transfer agent spends approximately 1.5
hours to prepare or file such notices for
an aggregate total annual burden of 15
hours (1.5 hours times 10 transfer
agents).
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 on respondents; 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
under the PRA unless it displays a
currently valid OMB control number.
Please direct your written comments
to: Charles Riddle, Acting Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Candace
Kenner, 100 F Street NE, Washington,
DC 20549, or send an email to: PRA_
Mailbox@sec.gov.
Dated: October 19, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–23203 Filed 10–23–18; 8:45 am]
BILLING CODE 8011–01–P
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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:
Rule 15c2–8, SEC File No. 270–421, OMB
Control No. 3235–0481.
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 rule: Rule 15c2–8 (17 CFR
240.15c2–8), under the Securities
Exchange Act of 1934 (15 U.S.C. 78a et
seq.).
Rule 15c2–8 requires broker-dealers to
deliver preliminary and/or final
prospectuses to certain people under
certain circumstances. In connection
with securities offerings generally,
including initial public offerings
(‘‘IPOs’’), the rule requires brokerdealers to take reasonable steps to
distribute copies of the preliminary or
final prospectus to anyone who makes
a written request, as well as any brokerdealer who is expected to solicit
purchases of the security and who
makes a request. In connection with
IPOs, the rule requires a broker-dealer to
send a copy of the preliminary
prospectus to any person who is
expected to receive a confirmation of
sale (generally, this means any person
who is expected to actually purchase
the security in the offering) at least 48
hours prior to the sending of such
confirmation. This requirement is
sometimes referred to as the ‘‘48 hour
rule.’’
Additionally, managing underwriters
are required to take reasonable steps to
ensure that all broker-dealers
participating in the distribution of or
trading in the security have sufficient
copies of the preliminary or final
prospectus, as requested by them, to
enable such broker-dealer to satisfy their
respective prospectus delivery
obligations pursuant to Rule 15c2–8, as
well as Section 5 of the Securities Act
of 1933.
Rule 15c2–8 implicitly requires that
broker-dealers collect information, as
such collection facilitates compliance
with the rule. There is no requirement
to submit collected information to the
E:\FR\FM\24OCN1.SGM
24OCN1
]]>Agencies
[Federal Register Volume 83, Number 206 (Wednesday, October 24, 2018)]
[Notices]
[Page 53686]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-23203]
[[Page 53686]]
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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:
Rule 17Ad-4(b) & (c), SEC File No. 270-264, OMB Control No.
3235-0341.
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 17Ad-4(b) & (c)
under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.)
(``Exchange Act''). The Commission plans to submit this existing
collection of information to the Office of Management and Budget
(``OMB'') for extension and approval.
Rule 17Ad-4(b) & (c) (17 CFR 240.17Ad-4) is used to document when
transfer agents are exempt, or no longer exempt, from the minimum
performance standards and certain recordkeeping provisions of the
Commission's transfer agent rules. Pursuant to Rule 17Ad-4(b), if the
Commission or the Office of the Comptroller of the Currency (``OCC'')
is the appropriate regulatory authority (``ARA'') for an exempt
transfer agent, that transfer agent is required to prepare and maintain
in its possession a notice certifying that it is exempt from certain
performance standards and recordkeeping and record retention provisions
of the Commission's transfer agent rules. This notice need not be filed
with the Commission or OCC. If the Board of Governors of the Federal
Reserve System (``Fed'') or the Federal Deposit Insurance Corporation
(``FDIC'') is the transfer agent's ARA, that transfer agent must
prepare a notice and file it with the Fed or FDIC.
Rule 17Ad-4(c) sets forth the conditions under which a registered
transfer agent loses its exempt status. Once the conditions for
exemption no longer exist, the transfer agent, to keep the appropriate
ARA apprised of its current status, must prepare, and file if the ARA
for the transfer agent is the Fed or the FDIC, a notice of loss of
exempt status under paragraph (c). The transfer agent then cannot claim
exempt status under Rule 17Ad-4(b) again until it remains subject to
the minimum performance standards for non-exempt transfer agents for
six consecutive months.
ARAs use the information contained in the notices required by Rules
17Ad-4(b) and 17Ad-4(c) to determine whether a registered transfer
agent qualifies for the exemption, to determine when a registered
transfer agent no longer qualifies for the exemption, and to determine
the extent to which that transfer agent is subject to regulation.
The Commission estimates that approximately 10 registered transfer
agents each year prepare or file notices in compliance with Rules 17Ad-
4(b) and 17Ad-4(c). The Commission estimates that each such registered
transfer agent spends approximately 1.5 hours to prepare or file such
notices for an aggregate total annual burden of 15 hours (1.5 hours
times 10 transfer agents).
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 on
respondents; 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 under the PRA unless it
displays a currently valid OMB control number.
Please direct your written comments to: Charles Riddle, Acting
Director/Chief Information Officer, Securities and Exchange Commission,
c/o Candace Kenner, 100 F Street NE, Washington, DC 20549, or send an
email to: [email protected].
Dated: October 19, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-23203 Filed 10-23-18; 8:45 am]
BILLING CODE 8011-01-P
