Proposed Collection; Comment Request, 62232 [2021-24426]
Download as PDF
<![CDATA[
62232
Federal Register / Vol. 86, No. 214 / Tuesday, November 9, 2021 / Notices
SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–264, OMB Control No.
3235–0341]
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
jspears on DSK121TN23PROD with NOTICES1
Extension:
Rule 17Ad–4(b) & (c)
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
VerDate Sep<11>2014
17:00 Nov 08, 2021
Jkt 256001
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: David Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o John R.
Pezzullo, 100 F Street NE, Washington,
DC 20549, or send an email to: PRA_
Mailbox@sec.gov.
Dated: November 3, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–24426 Filed 11–8–21; 8:45 am]
BILLING CODE 8011–01–P
PO 00000
Frm 00092
Fmt 4703
Sfmt 4703
SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–029, OMB Control No.
3235–0037]
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 17f–1(c) and Form X–17F–1A
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 17f–1(c) (17 CFR
240.17f–1(c) and Form X–17F–1A (17
CFR 249.100) 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 17f–1(c) requires approximately
10,100 entities in the securities industry
to report lost, stolen, missing, or
counterfeit securities certificates to the
Commission or its designee, to a
registered transfer agent for the issue,
and, when criminal activity is
suspected, to the Federal Bureau of
Investigation. Such entities are required
to use Form X–17F–1A to make such
reports. Filing these reports fulfills a
statutory requirement that reporting
institutions report and inquire about
missing, lost, counterfeit, or stolen
securities. Since these reports are
compiled in a central database, the rule
facilitates reporting institutions to
access the database that stores
information for the Lost and Stolen
Securities Program.
We estimate that 10,100 reporting
institutions will report that securities
are either missing, lost, counterfeit, or
stolen annually and that each reporting
institution will submit this report 30
times each year. The staff estimates that
the average amount of time necessary to
comply with Rule 17f–1(c) and Form X–
17F–1A is five minutes. The total
burden is approximately 25,250 hours
annually for all respondents (10,100
times 30 times 5 divided by 60).
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
E:\FR\FM\09NON1.SGM
09NON1
]]>Agencies
[Federal Register Volume 86, Number 214 (Tuesday, November 9, 2021)]
[Notices]
[Page 62232]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-24426]
[[Page 62232]]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-264, OMB Control No. 3235-0341]
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)
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: David Bottom, Director/
Chief Information Officer, Securities and Exchange Commission, c/o John
R. Pezzullo, 100 F Street NE, Washington, DC 20549, or send an email
to: [email protected].
Dated: November 3, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-24426 Filed 11-8-21; 8:45 am]
BILLING CODE 8011-01-P
