Submission for OMB Review; Comment Request; Extension Rule 17Ad-15, 77547 [2024-21685]

Download as PDF Federal Register / Vol. 89, No. 184 / Monday, September 23, 2024 / Notices Dated: September 17, 2024. Edward R. Hawkens, Chief Administrative Judge, Atomic Safety and Licensing Board Panel, Rockville, Maryland. [FR Doc. 2024–21648 Filed 9–20–24; 8:45 am] BILLING CODE 7590–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–360, OMB Control No. 3235–0409] khammond on DSKJM1Z7X2PROD with NOTICES Submission for OMB Review; Comment Request; Extension Rule 17Ad–15 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 (‘‘PRA’’) (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 previously approved collection of information provided for in Rule 17Ad–15 (17 CFR 240.17Ad–15) (‘‘Rule 17Ad–15’’) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (‘‘Exchange Act’’). Rule 17Ad–15 requires every registered transfer agent to establish written standards for the acceptance of guarantees of securities transfers from eligible guarantor institutions. Every registered transfer agent is also required to establish procedures, including written guidelines where appropriate, to make certain that the transfer agent uses those standards to determine whether to accept or reject guarantees from eligible guarantor institutions. In implementing these requirements, the Commission aims to ensure that registered transfer agents treat eligible guarantor institutions equitably. Additionally, Rule 17Ad–15 requires every registered transfer agent to make and maintain records in the event the transfer agent determines to reject signature guarantees from eligible guarantor institutions. Registered transfer agents’ records must include, following the date of rejection, a record of the rejected transfer, along with the reason for rejection, the identification of the guarantor, and an indication whether the guarantor failed to meet the transfer agent’s guarantee standards. Rule 17Ad–15 requires registered transfer agents to maintain these records for a period of three years. The VerDate Sep<11>2014 16:57 Sep 20, 2024 Jkt 262001 Commission designed these mandatory recordkeeping requirements to assist the Commission and other regulatory agencies with monitoring registered transfer agents and ensuring compliance with the rule. This rule does not involve the collection of confidential information. The Commission estimates that approximately 315 registered transfer agents will spend a total of approximately 12,600 burden hours per year complying with recordkeeping requirements of Rules 17Ad–15 (based on approximately 40 burden hours per year per registered transfer agent). The Commission also estimates the aggregate annual internal cost of compliance for the approximately 315 registered transfer agents is approximately $4,019,400 (based on 40 hours annual burden × $319 hourly wage × 315 respondents). This reflects a decline in aggregate annual internal cost of compliance of $650,760 due to the decrease in the number of registered transfer agents from 366 to 315. 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. Find this particular information collection by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the search function. Written comments and recommendations for the proposed information collection should be sent within 30 days of publication of this notice to: (i) www.reginfo.gov/public/do/ PRAMain and (ii) Austin Gerig, Director/Chief Data Officer, Securities and Exchange Commission, c/o Oluwaseun Ajayi, 100 F Street NE, Washington, DC 20549, or by sending an email to: PRA_Mailbox@sec.gov. [FR Doc. 2024–21685 Filed 9–20–24; 8:45 am] PO 00000 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–101065; File No. SR– FINRA–2024–001] Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Order Approving a Proposed Rule Change To Amend FINRA Rule 3240 (Borrowing From or Lending to Customers) To Strengthen the General Prohibition Against Borrowing and Lending Arrangements September 17, 2024. I. Introduction On January 2, 2024, the Financial Industry Regulatory Authority, Inc. (‘‘FINRA’’) filed with the Securities and Exchange Commission (‘‘SEC’’ or ‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change (SR–FINRA–2024–001) to amend FINRA Rule 3240 (Borrowing From or Lending to Customers).3 As stated in the Notice, the proposed rule change would strengthen the general prohibition against borrowing and lending arrangements, narrow some of the existing exceptions to that general prohibition, amend the immediate family exception,4 and enhance the requirements for notifying and obtaining member firms’ approval of such arrangements.5 The proposed rule change was published for public comment in the Federal Register on January 22, 2024.6 The public comment period closed on February 12, 2024. The Commission received comment letters related to this filing.7 On February 21, 2024, FINRA consented to an extension of the time period in which the Commission must approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to approve or disapprove the proposed rule change to April 19, 2024.8 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Exchange Act Release No. 99351 (Jan. 16, 2024), 89 FR 3968 (Jan. 22, 2024) (File No. SR– FINRA–2024–001) (‘‘Notice’’), https:// www.govinfo.gov/content/pkg/FR-2024-01-22/pdf/ 2024-01068.pdf. 4 See infra note 28 and accompanying text. 5 See Notice. 6 Id. 7 The comment letters are available at https:// www.sec.gov/comments/sr-finra-2024-001/ srfinra2024001.htm. 8 See letter from Ilana Reid, Associate General Counsel, FINRA, to Daniel Fisher, Branch Chief, Division of Trading and Markets, Commission, filed with the Commission on February 21, 2024. This letter is available at https://www.finra.org/sites/ 2 17 Dated: September 18, 2024. Vanessa A. Countryman, Secretary. BILLING CODE 8011–01–P 77547 Continued Frm 00077 Fmt 4703 Sfmt 4703 E:\FR\FM\23SEN1.SGM 23SEN1

Agencies

[Federal Register Volume 89, Number 184 (Monday, September 23, 2024)]
[Notices]
[Page 77547]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-21685]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-360, OMB Control No. 3235-0409]


Submission for OMB Review; Comment Request; Extension Rule 17Ad-
15

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 (``PRA'') (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 
previously approved collection of information provided for in Rule 
17Ad-15 (17 CFR 240.17Ad-15) (``Rule 17Ad-15'') under the Securities 
Exchange Act of 1934 (15 U.S.C. 78a et seq.) (``Exchange Act'').
    Rule 17Ad-15 requires every registered transfer agent to establish 
written standards for the acceptance of guarantees of securities 
transfers from eligible guarantor institutions. Every registered 
transfer agent is also required to establish procedures, including 
written guidelines where appropriate, to make certain that the transfer 
agent uses those standards to determine whether to accept or reject 
guarantees from eligible guarantor institutions. In implementing these 
requirements, the Commission aims to ensure that registered transfer 
agents treat eligible guarantor institutions equitably.
    Additionally, Rule 17Ad-15 requires every registered transfer agent 
to make and maintain records in the event the transfer agent determines 
to reject signature guarantees from eligible guarantor institutions. 
Registered transfer agents' records must include, following the date of 
rejection, a record of the rejected transfer, along with the reason for 
rejection, the identification of the guarantor, and an indication 
whether the guarantor failed to meet the transfer agent's guarantee 
standards. Rule 17Ad-15 requires registered transfer agents to maintain 
these records for a period of three years. The Commission designed 
these mandatory recordkeeping requirements to assist the Commission and 
other regulatory agencies with monitoring registered transfer agents 
and ensuring compliance with the rule. This rule does not involve the 
collection of confidential information.
    The Commission estimates that approximately 315 registered transfer 
agents will spend a total of approximately 12,600 burden hours per year 
complying with recordkeeping requirements of Rules 17Ad-15 (based on 
approximately 40 burden hours per year per registered transfer agent). 
The Commission also estimates the aggregate annual internal cost of 
compliance for the approximately 315 registered transfer agents is 
approximately $4,019,400 (based on 40 hours annual burden x $319 hourly 
wage x 315 respondents). This reflects a decline in aggregate annual 
internal cost of compliance of $650,760 due to the decrease in the 
number of registered transfer agents from 366 to 315.
    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. Find this 
particular information collection by selecting ``Currently under 30-day 
Review--Open for Public Comments'' or by using the search function. 
Written comments and recommendations for the proposed information 
collection should be sent within 30 days of publication of this notice 
to: (i) www.reginfo.gov/public/do/PRAMain and (ii) Austin Gerig, 
Director/Chief Data Officer, Securities and Exchange Commission, c/o 
Oluwaseun Ajayi, 100 F Street NE, Washington, DC 20549, or by sending 
an email to: [email protected].

    Dated: September 18, 2024.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2024-21685 Filed 9-20-24; 8:45 am]
BILLING CODE 8011-01-P
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