Proposed Collection; Comment Request, 32099 [2021-12658]

Agencies

• SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 86, Number 114 (Wednesday, June 16, 2021)]
[Notices]
[Page 32099]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-12658]


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

SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-095, OMB Control No. 3235-0084]


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 17Ac2-1

    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 Rule 17Ac2-1 (17 CFR 
240.17Ac2-1), 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 17Ac2-1, pursuant to Section 17A(c) of the Exchange Act, 
generally requires transfer agents for whom the Commission is the 
transfer agent's Appropriate Regulatory Agency (``ARA''), to file an 
application for registration with the Commission on Form TA-1 and to 
amend their registrations under certain circumstances.
    Specifically, Rule 17Ac2-1 requires transfer agents to file a Form 
TA-1 application for registration with the Commission where the 
Commission is their ARA. Such transfer agents must also amend their 
Form TA-1 if the existing information on their Form TA-1 becomes 
inaccurate, misleading, or incomplete within 60 days following the date 
the information became inaccurate, misleading or incomplete. 
Registration filings on Form TA-1 and amendments thereto must be filed 
with the Commission electronically, absent an exemption, on EDGAR 
pursuant to Regulation S-T (17 CFR 232).
    The Commission annually receives approximately 199 filings on Form 
TA-1 from transfer agents required to register as such with the 
Commission. Included in this figure are approximately 167 amendments 
made annually by transfer agents to their Form TA-1 as required by Rule 
17Ac2-1(c) to address information that has become inaccurate, 
misleading, or incomplete and approximately 32 new applications by 
transfer agents for registration on Form TA-1 as required by Rule 
17Ac2-1(a). Based on past submissions, the staff estimates that on 
average approximately twelve hours are required for initial completion 
of Form TA-1 and that on average one and one-half hours are required 
for an amendment to Form TA-1 by each such firm. Thus, the subtotal 
burden for new applications for registration filed on Form TA-1 each 
year is approximately 384 hours (12 hours times 32 filers = 384) and 
the subtotal burden for amendments to Form TA-1 filed each year is 
approximately 251 hours (1.5 hours times 167 filers = 250.5 rounded up 
to 251). The cumulative total is approximately 635 burden hours per 
year (384 hours plus 251 hours).
    Of the approximately 635 hours per year associated with Rule 17Ac2-
1, the Commission staff estimates that (i) sixty percent (380.7 hours) 
are spent by compliance staff at an estimated hourly wage of $283, for 
a total of $107,738.10 per year (380.7 hours x $283 per hour = 
$107,738.10 per year; (ii) forty percent (253.8 hours) are spent by 
attorneys at an estimated hourly wage of $380, for a total of $96,444 
per year (253.8 hours x $380 per hour = $96,444 per year); and (iii) 
the total internal cost of compliance associated with the Rule is thus 
approximately $204,182.10 per year ($107,738.10 in compliance staff 
costs + $96,444 in attorney costs = $204,182.10 per year).
    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 under the PRA unless it 
displays a currently valid OMB control number.
    Please direct your written comments to: David Bottom, Director/
Chief Information Officer, Securities and Exchange Commission, c/o 
Cynthia Roscoe, 100 F Street NE, Washington, DC 20549, or send an email 
to: [email protected].

    Dated: June 10, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-12658 Filed 6-15-21; 8:45 am]
BILLING CODE 8011-01-P