Proposed Collection; Comment Request; Extension: Rule 17Ad-16, 11198 [2025-03434]

Download as PDF 11198 Federal Register / Vol. 90, No. 41 / Tuesday, March 4, 2025 / Notices Comments may be submitted electronically by using the Commission’s internet comment form (https://www.sec.gov/rules-regulations/ self-regulatory-organizationrulemaking/national-securitiesexchanges?file_number=SR-PEARL2025-06) or by sending an email to rulecomments@sec.gov. Please include file number SR–PEARL–2025–06 on the subject line. Alternatively, paper comments may be sent to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549–1090. All submissions should refer to file number SR–PEARL–2025– 06. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s internet website (https://www.sec.gov/rules-regulations/ self-regulatory-organizationrulemaking/national-securitiesexchanges?file_number=SR-PEARL2025-06). Do not include personal identifiable information in submissions; you should submit only information that you wish to make available publicly. We may redact in part or withhold entirely from publication submitted material that is obscene or subject to copyright protection. All submissions should refer to file number SR–PEARL–2025–06 and should be submitted on or before March 25, 2025. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.7 Sherry R. Haywood, Assistant Secretary. [FR Doc. 2025–03413 Filed 3–3–25; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [OMB Control No. 3235–0413] ddrumheller on DSK120RN23PROD with NOTICES1 Proposed Collection; Comment Request; Extension: Rule 17Ad–16 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’’) is soliciting comments on the existing collection of information provided for in Rule 17Ad–16 (17 CFR Copies of the filing also will be available for inspection and copying at the principal office of SRO. 7 17 CFR 200.30–3(a)(12). VerDate Sep<11>2014 17:36 Mar 03, 2025 Jkt 265001 240.17Ad–16) 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 17Ad–16 requires a registered transfer agent to provide written notice to the appropriate qualified registered securities depository when assuming or terminating transfer agent services on behalf of an issuer or when changing its name or address. In addition, transfer agents that provide such notice shall maintain such notice for a period of at least two years in an easily accessible place. This rule addresses the problem of certificate transfer delays caused by transfer requests that are directed to the wrong transfer agent or the wrong address. We estimate that the transfer agent industry submits approximately 16,412 Rule 17Ad–16 notices to appropriate qualified registered securities depositories. The staff estimates that the average amount of time necessary to create and submit each notice is approximately 15 minutes per notice. Accordingly, the estimated total industry burden is 4,103 hours per year (15 minutes multiplied by 16,412 notices filed annually). Because the information needed by transfer agents to properly notify the appropriate registered securities depository is readily available to them and the report is simple and straightforward, the cost is relatively minimal. The average internal compliance cost to prepare and send a notice is approximately $96 (15 minutes at $385 per hour).1 This yields an industry-wide internal compliance cost estimate of $1,575,552 (16,412 notices multiplied by $96 per notice). An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid OMB Control Number. Written comments are invited on: (a) whether this collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (b) the accuracy of the agency’s estimate of the burden imposed by the collection of information; (c) ways to enhance the quality, utility, and clarity of the information collected; and 1 Hourly compliance cost estimates for internal counsel time are derived from the Securities Industry and Financial Markets Association’s Management & Professional Earnings in the Securities Industry 2013, modified by SEC staff to account for an 1,800-hour work-year and multiplied by 5.35 to account for bonuses, firm size, employee benefits, and overhead. PO 00000 Frm 00051 Fmt 4703 Sfmt 4703 (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 by May 5, 2025. Please direct your written comment to Austin Gerig, Director/Chief Data Officer, Securities and Exchange Commission, c/o Tanya Ruttenberg, 100 F Street NE, Washington, DC 20549 or send an email to: PRA_Mailbox@ sec.gov. Dated: February 26, 2025. Sherry R. Haywood, Assistant Secretary. [FR Doc. 2025–03434 Filed 3–3–25; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–102494; File No. SR– EMERALD–2025–04] Self-Regulatory Organizations; MIAX Emerald, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fee Schedule To Adopt New Fee Categories for the Exchange’s Proprietary Market Data Feeds February 26, 2025. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on February 14, 2025, MIAX Emerald, LLC (‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Item I below, which Item has been substantially prepared by the Exchange. The Exchange has designated this proposal for immediate effectiveness pursuant to Section 19(b)(3)(A) of the Act 3 and Rule 19b–4(f) thereunder.4 The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A). 4 17 CFR 240.19b–4(f). At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission will institute proceedings to determine whether the proposed rule change should be approved or disapproved. 2 17 E:\FR\FM\04MRN1.SGM 04MRN1

Agencies

[Federal Register Volume 90, Number 41 (Tuesday, March 4, 2025)]
[Notices]
[Page 11198]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-03434]


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SECURITIES AND EXCHANGE COMMISSION

[OMB Control No. 3235-0413]


Proposed Collection; Comment Request; Extension: Rule 17Ad-16

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'') is soliciting comments on the 
existing collection of information provided for in Rule 17Ad-16 (17 CFR 
240.17Ad-16) 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 17Ad-16 requires a registered transfer agent to provide 
written notice to the appropriate qualified registered securities 
depository when assuming or terminating transfer agent services on 
behalf of an issuer or when changing its name or address. In addition, 
transfer agents that provide such notice shall maintain such notice for 
a period of at least two years in an easily accessible place. This rule 
addresses the problem of certificate transfer delays caused by transfer 
requests that are directed to the wrong transfer agent or the wrong 
address.
    We estimate that the transfer agent industry submits approximately 
16,412 Rule 17Ad-16 notices to appropriate qualified registered 
securities depositories. The staff estimates that the average amount of 
time necessary to create and submit each notice is approximately 15 
minutes per notice. Accordingly, the estimated total industry burden is 
4,103 hours per year (15 minutes multiplied by 16,412 notices filed 
annually).
    Because the information needed by transfer agents to properly 
notify the appropriate registered securities depository is readily 
available to them and the report is simple and straightforward, the 
cost is relatively minimal. The average internal compliance cost to 
prepare and send a notice is approximately $96 (15 minutes at $385 per 
hour).\1\ This yields an industry-wide internal compliance cost 
estimate of $1,575,552 (16,412 notices multiplied by $96 per notice).
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    \1\ Hourly compliance cost estimates for internal counsel time 
are derived from the Securities Industry and Financial Markets 
Association's Management & Professional Earnings in the Securities 
Industry 2013, modified by SEC staff to account for an 1,800-hour 
work-year and multiplied by 5.35 to account for bonuses, firm size, 
employee benefits, and overhead.
---------------------------------------------------------------------------

    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless it displays a 
currently valid OMB Control Number.
    Written comments are invited on: (a) whether this collection of 
information is necessary for the proper performance of the functions of 
the agency, including whether the information will have practical 
utility; (b) the accuracy of the agency's estimate of the burden 
imposed by the 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 by May 5, 2025.
    Please direct your written comment to Austin Gerig, Director/Chief 
Data Officer, Securities and Exchange Commission, c/o Tanya Ruttenberg, 
100 F Street NE, Washington, DC 20549 or send an email to: 
[email protected].

    Dated: February 26, 2025.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-03434 Filed 3-3-25; 8:45 am]
BILLING CODE 8011-01-P
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