80_FR_32532 80 FR 32423 - Proposed Collection; Comment Request

80 FR 32423 - Proposed Collection; Comment Request

SECURITIES AND EXCHANGE COMMISSION

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

Page Range32423-32424
FR Document2015-13872

Federal Register, Volume 80 Issue 109 (Monday, 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



                                                                                  Federal Register / Vol. 80, No. 109 / Monday, June 8, 2015 / Notices                                             32423

                                                  (C) Self-Regulatory Organization’s                      provisions of 5 U.S.C. 552, will be                     the transfer agent to determine whether
                                                  Statement on Comments on the                            available for Web site viewing and                      to accept or reject guarantees from
                                                  Proposed Rule Change Received From                      printing in the Commission’s Public                     eligible guarantor institutions. Transfer
                                                  Members, Participants or Others                         Reference Room, 100 F Street, NE.,                      agents must maintain, for a period of
                                                    The Exchange has neither solicited                    Washington, DC 20549, on official                       three years following the date of a
                                                  nor received written comments on the                    business days between the hours of                      rejection of transfer, a record of all
                                                  proposed rule change.                                   10:00 a.m. and 3:00 p.m. Copies of the                  transfers rejected, along with the reason
                                                                                                          filing will also be available for                       for the rejection, identification of the
                                                  III. Date of Effectiveness of the                       inspection and copying at the principal                 guarantor, and whether the guarantor
                                                  Proposed Rule Change and Timing for                     office of the Exchange. All comments                    failed to meet the transfer agent’s
                                                  Commission Action                                       received will be posted without change;                 guarantee standard. These
                                                    Within 45 days of the date of                         the Commission does not edit personal                   recordkeeping requirements assist the
                                                  publication of this notice in the Federal               identifying information from                            Commission and other regulatory
                                                  Register or up to 90 days (i) as the                    submissions. You should submit only                     agencies with monitoring transfer agents
                                                  Commission may designate if it finds                    information that you wish to make                       and ensuring compliance with the rule.
                                                  such longer period to be appropriate                    available publicly. All submissions
                                                                                                          should refer to File Number SR–                            There are approximately 429
                                                  and publishes its reasons for so finding                                                                        registered transfer agents. The staff
                                                  or (ii) as to which the self-regulatory                 NYSEArca-2015–43 and should be
                                                                                                          submitted on or before June 29, 2015.                   estimates that each transfer agent will
                                                  organization consents, the Commission                                                                           spend about 40 hours annually to
                                                  will:                                                     For the Commission, by the Division of                comply with Rule 17Ad–15, or a total of
                                                    (A) By order approve or disapprove                    Trading and Markets, pursuant to delegated
                                                                                                          authority.24                                            17,160 hours for all transfer agents (429
                                                  the proposed rule change, or                                                                                    × 40 hours = 17,160 hours). The
                                                    (B) institute proceedings to determine                Robert W. Errett,
                                                                                                                                                                  Commission staff estimates that
                                                  whether the proposed rule change                        Deputy Secretary.
                                                                                                                                                                  compliance staff work at each registered
                                                  should be disapproved.                                  [FR Doc. 2015–13871 Filed 6–5–15; 8:45 am]
                                                                                                                                                                  transfer agent will result in an internal
                                                                                                          BILLING CODE 8011–01–P
                                                  IV. Solicitation of Comments                                                                                    cost of compliance (at an estimated
                                                    Interested persons are invited to                                                                             hourly wage of $283) of $11,320 per
                                                  submit written data, views, and                         SECURITIES AND EXCHANGE                                 year per transfer agent (40 hours × $283
                                                  arguments concerning the foregoing,                     COMMISSION                                              per hour = $11,320 per year). Therefore,
                                                  including whether the proposed rule                                                                             the aggregate annual internal cost of
                                                                                                          [OMB Control No. 3235–0409, SEC File No.                compliance for the approximately 429
                                                  change is consistent with the Act.                      270–360]
                                                  Comments may be submitted by any of                                                                             registered transfer agents is
                                                  the following methods:                                  Proposed Collection; Comment                            approximately $4,856,280 ($11,320 ×
                                                                                                          Request                                                 429 = $4,856,280).
                                                  Electronic Comments
                                                                                                                                                                     Written comments are invited on: (a)
                                                    • Use the Commission’s Internet                         Upon Written Request, Copies                          Whether the proposed collection of
                                                  comment form (http://www.sec.gov/                          Available From: Securities and                       information is necessary for the proper
                                                  rules/sro.shtml); or                                       Exchange Commission, Office of
                                                                                                                                                                  performance of the functions of the
                                                    • Send an email to rule-comments@                        FOIA Services, 100 F Street NE.,
                                                                                                                                                                  Commission, including whether the
                                                  sec.gov. Please include File Number SR–                    Washington, DC 20549–2736.
                                                                                                                                                                  information shall have practical utility;
                                                  NYSEArca–2015–43 on the subject line.                   Extension:                                              (b) the accuracy of the Commission’s
                                                                                                            Rule 17Ad–15.                                         estimates of the burden of the proposed
                                                  Paper Comments
                                                                                                             Notice is hereby given that pursuant                 collection of information; (c) ways to
                                                     • Send paper comments in triplicate                  to the Paperwork Reduction Act of 1995                  enhance the quality, utility, and clarity
                                                  to Brent J. Fields, Secretary, Securities               (‘‘PRA’’) (44 U.S.C. 3501 et seq.), the                 of the information on respondents; and
                                                  and Exchange Commission, 100 F Street                   Securities and Exchange Commission                      (d) ways to minimize the burden of the
                                                  NE., Washington, DC 20549–1090.                         (‘‘Commission’’) is soliciting comments                 collection of information on
                                                  All submissions should refer to File                    on the existing collection of information               respondents, including through the use
                                                  Number SR–NYSEArca–2015–43. This                        provided for in Rule 17Ad–15 (17 CFR                    of automated collection techniques or
                                                  file number should be included on the                   240.17Ad–15) under the Securities                       other forms of information technology.
                                                  subject line if email is used. To help the              Exchange Act of 1934 (15 U.S.C. 78a et                  Consideration will be given to
                                                  Commission process and review your                      seq.). The Commission plans to submit                   comments and suggestions submitted in
                                                  comments more efficiently, please use                   this existing collection of information to              writing within 60 days of this
                                                  only one method. The Commission will                    the Office of Management and Budget                     publication.
                                                  post all comments on the Commission’s                   (‘‘OMB’’) for extension and approval.
                                                  Internet Web site (http://www.sec.gov/                                                                             An Agency may not conduct or
                                                                                                             Rule 17Ad–15 (17 CFR 240.17Ad–15)
                                                  rules/sro.shtml). Copies of the                                                                                 sponsor, and a person is not required to
                                                                                                          under the Securities Exchange Act of
                                                  submission, all subsequent                                                                                      respond to, a collection of information
                                                                                                          1934 (15 U.S.C. 78a et seq.) (the ‘‘Act’’)
                                                  amendments, all written statements                                                                              under the PRA unless it displays a
                                                                                                          requires approximately 429 transfer
                                                                                                                                                                  currently valid OMB control number.
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                                                  with respect to the proposed rule                       agents to establish written standards for
                                                  change that are filed with the                          the acceptance or rejection of guarantees                  Please direct your written comments
                                                  Commission, and all written                             of securities transfers from eligible                   to: Pamela Dyson, Director/Chief
                                                  communications relating to the                          guarantor institutions. Transfer agents                 Information Officer, Securities and
                                                  proposed rule change between the                        are required to establish procedures to                 Exchange Commission, c/o Remi Pavlik-
                                                  Commission and any person, other than                   ensure that those standards are used by                 Simon, 100 F Street NE., Washington,
                                                  those that may be withheld from the                                                                             DC 20549, or send an email to: PRA_
                                                  public in accordance with the                             24 17   CFR 200.30–3(a)(12).                          Mailbox@sec.gov.


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                                                  32424                           Federal Register / Vol. 80, No. 109 / Monday, June 8, 2015 / Notices

                                                    Dated: June 2, 2015.                                  and (10), permit consideration of the                  × 5 hours) for a total burden of 290,000
                                                  Robert W. Errett,                                       scheduled matter at the Closed Meeting.                hours annually. In addition, we estimate
                                                  Deputy Secretary.                                         Chair White, as duty officer, voted to               that 25% of the 5 hours per response
                                                  [FR Doc. 2015–13872 Filed 6–5–15; 8:45 am]              consider the item listed for the Closed                (1.25 hours) is prepared by the filer for
                                                  BILLING CODE 8011–01–P
                                                                                                          Meeting in closed session, and                         an annual reporting burden of 72,500
                                                                                                          determined that Commission business                    hours (1.25 hours per response × 58,000
                                                                                                          required consideration earlier than one                responses).
                                                  SECURITIES AND EXCHANGE                                 week from today. No earlier notice of                    Written comments are invited on: (a)
                                                  COMMISSION                                              this Meeting was practicable.                          Whether the proposed collection of
                                                                                                            The subject matter of June 8, 2015                   information is necessary for the proper
                                                  Sunshine Act Meeting                                    Closed Meeting will be:                                performance of the functions of the
                                                                                                          Post argument discussion                               agency, including whether the
                                                     Notice is hereby given, pursuant to                    For further information, please                      information has practical utility; (b) the
                                                  the provisions of the Government in the                 contact the Office of the Secretary at                 accuracy of the agency’s estimate of the
                                                  Sunshine Act, Public Law 94–409, that                   (202) 551–5400.                                        burden imposed by the collection of
                                                  the Securities and Exchange                                                                                    information; (c) ways to enhance the
                                                  Commission will hold an Open Meeting                      Dated: June 2, 2015.
                                                                                                                                                                 quality, utility, and clarity of the
                                                  on June 8, 2015, at 1:00 p.m., in Room                  Brent J. Fields,
                                                                                                                                                                 information collected; and (d) ways to
                                                  10800 at the Commission’s headquarters                  Secretary.
                                                                                                                                                                 minimize the burden of the collection of
                                                  building, to hear oral argument in cross-               [FR Doc. 2015–13984 Filed 6–4–15; 11:15 am]            information on respondents, including
                                                  appeals by Timbervest, LLC, Joel Barth                  BILLING CODE 8011–01–P                                 through the use of automated collection
                                                  Shapiro, Walter William Anthony                                                                                techniques or other forms of information
                                                  Boden, III, Donald David Zell, Jr.,                                                                            technology. Consideration will be given
                                                  Gordon Jones II (collectively,                          SECURITIES AND EXCHANGE                                to comments and suggestions submitted
                                                  Respondents), and the Division of                       COMMISSION                                             in writing within 60 days of this
                                                  Enforcement from an initial decision of                 [Extension: Regulation FD; OMB Control                 publication.
                                                  an administrative law judge.                            No.: 3235–0536, SEC File No. 270–475]                    Please direct your written comments
                                                     On August 20, 2014, the law judge                                                                           to Pamela Dyson, Director/Chief
                                                  found that Timbervest violated Sections                 Proposed Collection; Comment                           Information Officer, Securities and
                                                  206(1) and 206(2) of the Investment                     Request                                                Exchange Commission, c/o Remi Pavlik-
                                                  Advisers Act in connection with a                       Upon Written Request Copies Available                  Simon, 100 F Street NE., Washington,
                                                  repurchase arrangement and real estate                     From: Securities and Exchange                       DC 20549; or send an email to: PRA_
                                                  commissions. The law judge also found                      Commission Office of FOIA Services                  Mailbox@sec.gov.
                                                  that each of the individual Respondents                    100 F Street NE., Washington, DC                      Dated: June 2, 2015.
                                                  aided, abetted, and caused the Section                     20549–2736.                                         Robert W. Errett,
                                                  206 violations that were connected to                      Notice is hereby given that, pursuant               Deputy Secretary.
                                                  the repurchase agreement. But the law                   to the Paperwork Reduction Act of 1995                 [FR Doc. 2015–13874 Filed 6–5–15; 8:45 am]
                                                  judge concluded that only Shapiro and                   (44 U.S.C. 3501 et seq.), the Securities
                                                  Boden acted with scienter in furthering                                                                        BILLING CODE 8011–01–P
                                                                                                          and Exchange Commission
                                                  Timbervest’s violations related to the                  (‘‘Commission’’) is soliciting comments
                                                  real estate commissions; the law judge                  on the collection of information                       SECURITIES AND EXCHANGE
                                                  concluded that Zell and Jones were                      summarized below. The Commission                       COMMISSION
                                                  merely negligent. The law judge                         plans to submit this existing collection
                                                  accordingly found that Shapiro and                      of information to the Office of                        [Extension: Rule 206(4)–3; OMB Control No.
                                                  Jones aided, abetted, and caused                                                                               3235–0242, SEC File No. 270–218]
                                                                                                          Management Budget for extension and
                                                  Timbervest’s Sections 206(1) and 206(2)                 approval.
                                                  violations, but found that Jones and Zell                                                                      Proposed Collection; Comment
                                                                                                             Regulation FD (17 CFR 243.100 et                    Request
                                                  aided, abetted, and caused only                         seq.)—Other Disclosure Materials
                                                  Timbervest’s Section 206(2) violation.                  requires public disclosure of material                 Upon Written Request, Copies Available
                                                  The law judge imposed cease-and-desist                  information from issuers of publicly                      From: Securities and Exchange
                                                  orders on Respondents and ordered                       traded securities so that investors have                  Commission, Office of FOIA Services,
                                                  disgorgement.                                           current information upon which to base                    100 F Street NE., Washington, DC
                                                     The issues likely to considered at oral              investment decisions. The purpose of                      20549–2736.
                                                  argument include whether Respondents                    the regulation is to require: (1) An issuer               Notice is hereby given that, pursuant
                                                  violated Advisers Act Sections 206(1)                   that intentionally discloses material                  to the Paperwork Reduction Act of 1995
                                                  and 206(2) as alleged and, if so, the                   information, to do so through public                   (44 U.S.C. 3501 et seq.), the Securities
                                                  extent to which they should be                          disclosure, not selective disclosure; and              and Exchange Commission
                                                  sanctioned for those violations. Also                   (2) to make prompt public disclosure of                (‘‘Commission’’) is soliciting comments
                                                  likely to be considered at oral argument                material information that was                          on the collection of information
                                                  is whether these administrative                         unintentionally selectively disclosed.                 summarized below. The Commission
                                                  proceedings violate the U.S.
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                                                                                                          We estimate that approximately 13,000                  plans to submit this existing collection
                                                  Constitution.                                           issuers make Regulation FD disclosures                 of information to the Office of
                                                     The General Counsel of the                           approximately five times a year for a                  Management and Budget for extension
                                                  Commission, or her designee, has                        total of 58,000 submissions annually,                  and approval.
                                                  certified that, in her opinion, one or                  not including an estimated 7,000 issuers                  Rule 206(4)–3 (17 CFR 275.206(4)–3)
                                                  more of the exemptions set forth in 5                   who file Form 8–K to comply with                       under the Investment Advisers Act of
                                                  U.S.C. 552b(c)(3), (5), (7), 9(B) and (10)              Regulation FD. We estimate that it takes               1940, which is entitled ‘‘Cash Payments
                                                  and 17 CFR 200.402(a)(3), (5), (7), 9(ii)               5 hours per response (58,000 responses                 for Client Solicitations,’’ provides


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Document Created: 2018-02-22 10:12:41
Document Modified: 2018-02-22 10:12:41
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation80 FR 32423 

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