80 FR 32423 - Proposed Collection; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 109 (June 8, 2015)

[Federal Register Volume 80, Number 109 (Monday, June 8, 2015)]
[Notices]
[Pages 32423-32424]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-13872]


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SECURITIES AND EXCHANGE COMMISSION

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


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-15.

    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-15 (17 CFR 
240.17Ad-15) 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-15 (17 CFR 240.17Ad-15) under the Securities Exchange Act 
of 1934 (15 U.S.C. 78a et seq.) (the ``Act'') requires approximately 
429 transfer agents to establish written standards for the acceptance 
or rejection of guarantees of securities transfers from eligible 
guarantor institutions. Transfer agents are required to establish 
procedures to ensure that those standards are used by the transfer 
agent to determine whether to accept or reject guarantees from eligible 
guarantor institutions. Transfer agents must maintain, for a period of 
three years following the date of a rejection of transfer, a record of 
all transfers rejected, along with the reason for the rejection, 
identification of the guarantor, and whether the guarantor failed to 
meet the transfer agent's guarantee standard. These recordkeeping 
requirements assist the Commission and other regulatory agencies with 
monitoring transfer agents and ensuring compliance with the rule.
    There are approximately 429 registered transfer agents. The staff 
estimates that each transfer agent will spend about 40 hours annually 
to comply with Rule 17Ad-15, or a total of 17,160 hours for all 
transfer agents (429 x 40 hours = 17,160 hours). The Commission staff 
estimates that compliance staff work at each registered transfer agent 
will result in an internal cost of compliance (at an estimated hourly 
wage of $283) of $11,320 per year per transfer agent (40 hours x $283 
per hour = $11,320 per year). Therefore, the aggregate annual internal 
cost of compliance for the approximately 429 registered transfer agents 
is approximately $4,856,280 ($11,320 x 429 = $4,856,280).
    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: Pamela Dyson, Director/
Chief Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 100 F Street NE., Washington, DC 20549, or send an email 
to: [email protected].


[[Page 32424]]


    Dated: June 2, 2015.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-13872 Filed 6-5-15; 8:45 am]
BILLING CODE 8011-01-P