80_FR_63802 80 FR 63600 - Submission for OMB Review; Comment Request

80 FR 63600 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 202 (October 20, 2015)

Page Range63600-63600
FR Document2015-26519

Federal Register, Volume 80 Issue 202 (Tuesday, October 20, 2015) 
[Federal Register Volume 80, Number 202 (Tuesday, October 20, 2015)]
[Notices]
[Page 63600]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-26519]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-263; OMB Control No. 3235-0275]


Submission for OMB Review; 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-13.

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.) (``PRA''), 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-13 (17 CFR 240.17Ad-13), under the Securities Exchange Act of 1934 
(15 U.S.C. 78a et seq.).
    Rule 17Ad-13 requires an annual study and evaluation of internal 
accounting controls under the Securities Exchange Act of 1934 (15 
U.S.C. 78a et seq.). It requires approximately 100 registered transfer 
agents to obtain an annual report on the adequacy of their internal 
accounting controls from an independent accountant. In addition, 
transfer agents must maintain copies of any reports prepared pursuant 
to Rule 17Ad-13 plus any documents prepared to notify the Commission 
and appropriate regulatory agencies in the event that the transfer 
agent is required to take any corrective action. These recordkeeping 
requirements assist the Commission and other regulatory agencies with 
monitoring transfer agents and ensuring compliance with the rule. Small 
transfer agents are exempt from Rule 17Ad-13 as are transfer agents 
that service only their own companies' securities.
    Approximately 100 independent, professional transfer agents must 
file the independent accountant's report annually. We estimate that the 
annual internal time burden for each transfer agent to comply with Rule 
17Ad-13 by submitting the report prepared by the independent accountant 
to the Commission is minimal. The time required for the independent 
accountant to prepare the accountant's report varies with each transfer 
agent depending on the size and nature of the transfer agent's 
operations. The Commission estimates that, on average, each report can 
be completed by the independent accountant in 120 hours, resulting in a 
total of 12,000 external hours annually (120 hours x 100 reports). The 
burden was estimated using Commission review of filed Rule 17Ad-13 
reports. The Commission estimates that, on average, 120 hours are 
needed to perform the study, prepare the report, and retain the 
required records on an annual basis. Assuming an average hourly rate of 
an independent accountant of $60, the average total annual cost of the 
report is $7,200. The total annual cost for the approximate 100 
respondents is approximately $720,000.
    The retention period for the recordkeeping requirement under Rule 
17Ad-13 is three years following the date of a report prepared pursuant 
to the rule. The recordkeeping requirement under Rule 17Ad-13 is 
mandatory to assist the Commission and other regulatory agencies with 
monitoring transfer agents and ensuring compliance with the rule. This 
rule does not involve the collection of confidential information.
    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 Web site, http://www.reginfo.gov. Comments 
should be directed to: (i) Desk Officer for the Securities and Exchange 
Commission, Office of Information and Regulatory Affairs, Office of 
Management and Budget, Room 10102, New Executive Office Building, 
Washington, DC 20503 or by sending an email to: 
[email protected]; and (ii) Pamela Dyson, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 100 F Street NE., Washington, DC 20549, or by sending an 
email to [email protected]. Comments must be submitted within 30 days 
of this notice.

    Dated: October 13, 2015.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-26519 Filed 10-19-15; 8:45 am]
BILLING CODE 8011-01-P

63600 Federal Register / Vol. 80, No. 202 / Tuesday, October 20, 2015 / Notices Comments may be submitted by any of SECURITIES AND EXCHANGE total of 12,000 external hours annually the following methods: COMMISSION (120 hours × 100 reports). The burden was estimated using Commission review Electronic Comments [SEC File No. 270–263; OMB Control No. 3235–0275] of filed Rule 17Ad–13 reports. The • Use the Commission’s Internet Commission estimates that, on average, comment form (http://www.sec.gov/ Submission for OMB Review; 120 hours are needed to perform the rules/sro.shtml); or Comment Request study, prepare the report, and retain the required records on an annual basis. • Send an email to rule-comments@ Upon Written Request, Copies Available Assuming an average hourly rate of an sec.gov. Please include File Number SR– From: Securities and Exchange Commission, Office of FOIA Services, independent accountant of $60, the CBOE–2015–085 on the subject line. 100 F Street NE., Washington, DC average total annual cost of the report is Paper Comments 20549–2736. $7,200. The total annual cost for the approximate 100 respondents is • Send paper comments in triplicate Extension: approximately $720,000. to Secretary, Securities and Exchange Rule 17Ad–13. Commission, 100 F Street NE., The retention period for the Notice is hereby given that pursuant Washington, DC 20549–1090. to the Paperwork Reduction Act of 1995 recordkeeping requirement under Rule (44 U.S.C. 3501 et seq.) (‘‘PRA’’), the 17Ad–13 is three years following the All submissions should refer to File date of a report prepared pursuant to the Securities and Exchange Commission Number SR–CBOE–2015–085. This file rule. The recordkeeping requirement (‘‘Commission’’) has submitted to the number should be included on the under Rule 17Ad–13 is mandatory to Office of Management and Budget subject line if email is used. To help the (‘‘OMB’’) a request for approval of assist the Commission and other Commission process and review your extension of the previously approved regulatory agencies with monitoring comments more efficiently, please use collection of information provided for in transfer agents and ensuring compliance only one method. The Commission will Rule 17Ad–13 (17 CFR 240.17Ad–13), with the rule. This rule does not involve post all comments on the Commission’s under the Securities Exchange Act of the collection of confidential Internet Web site (http://www.sec.gov/ 1934 (15 U.S.C. 78a et seq.). information. rules/sro.shtml). Copies of the Rule 17Ad–13 requires an annual An agency may not conduct or submission, all subsequent study and evaluation of internal sponsor, and a person is not required to amendments, all written statements accounting controls under the Securities respond to, a collection of information with respect to the proposed rule Exchange Act of 1934 (15 U.S.C. 78a et under the PRA unless it displays a change that are filed with the seq.). It requires approximately 100 currently valid OMB control number. Commission, and all written registered transfer agents to obtain an communications relating to the annual report on the adequacy of their The public may view background proposed rule change between the internal accounting controls from an documentation for this information Commission and any person, other than independent accountant. In addition, collection at the following Web site, those that may be withheld from the transfer agents must maintain copies of http://www.reginfo.gov. Comments public in accordance with the any reports prepared pursuant to Rule should be directed to: (i) Desk Officer provisions of 5 U.S.C. 552, will be 17Ad–13 plus any documents prepared for the Securities and Exchange available for Web site viewing and to notify the Commission and Commission, Office of Information and printing in the Commission’s Public appropriate regulatory agencies in the Regulatory Affairs, Office of Reference Room, 100 F Street NE., event that the transfer agent is required Management and Budget, Room 10102, to take any corrective action. These New Executive Office Building, Washington, DC 20549, on official recordkeeping requirements assist the Washington, DC 20503 or by sending an business days between the hours of Commission and other regulatory email to: shagufta_ahmed@ 10:00 a.m. and 3:00 p.m. Copies of the agencies with monitoring transfer agents omb.eop.gov; and (ii) Pamela Dyson, filing also will be available for and ensuring compliance with the rule. Director/Chief Information Officer, inspection and copying at the principal Small transfer agents are exempt from office of the Exchange. All comments Securities and Exchange Commission, Rule 17Ad–13 as are transfer agents that c/o Remi Pavlik-Simon, 100 F Street received will be posted without change; service only their own companies’ the Commission does not edit personal NE., Washington, DC 20549, or by securities. identifying information from Approximately 100 independent, sending an email to PRA_Mailbox@ submissions. You should submit only professional transfer agents must file the sec.gov. Comments must be submitted information that you wish to make independent accountant’s report within 30 days of this notice. available publicly. All submissions annually. We estimate that the annual Dated: October 13, 2015. should refer to File Number SR–CBOE– internal time burden for each transfer Robert W. Errett, 2015–085 and should be submitted on agent to comply with Rule 17Ad–13 by Deputy Secretary. or before November 10, 2015. submitting the report prepared by the [FR Doc. 2015–26519 Filed 10–19–15; 8:45 am] For the Commission, by the Division of independent accountant to the BILLING CODE 8011–01–P Trading and Markets, pursuant to delegated Commission is minimal. The time mstockstill on DSK4VPTVN1PROD with NOTICES authority.14 required for the independent accountant Robert W. Errett, to prepare the accountant’s report varies with each transfer agent depending on Deputy Secretary. the size and nature of the transfer [FR Doc. 2015–26520 Filed 10–19–15; 8:45 am] agent’s operations. The Commission BILLING CODE 8011–01–P estimates that, on average, each report can be completed by the independent 14 17 CFR 200.30–3(a)(12). accountant in 120 hours, resulting in a VerDate Sep<11>2014 17:55 Oct 19, 2015 Jkt 238001 PO 00000 Frm 00103 Fmt 4703 Sfmt 9990 E:\FR\FM\20OCN1.SGM 20OCN1


Document Created: 2015-12-14 15:25:15
Document Modified: 2015-12-14 15:25:15
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 63600 
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