80_FR_77635 80 FR 77396 - Submission for OMB Review; Comment Request

80 FR 77396 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 239 (December 14, 2015)

Page Range77396-77397
FR Document2015-31360

Federal Register, Volume 80 Issue 239 (Monday, December 14, 2015) 
[Federal Register Volume 80, Number 239 (Monday, December 14, 2015)]
[Notices]
[Pages 77396-77397]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-31360]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION


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-11, SEC File No. 270-261, OMB Control No. 3235-0274.

    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-11 (17 CFR 240.17Ad-11) under the Securities Exchange Act of 1934 
(15 U.S.C. 78a et seq.).
    Rule 17Ad-11 requires every registered recordkeeping transfer agent 
to report to issuers and its appropriate regulatory agency in the event 
that the aggregate market value of an aged record difference exceeds 
certain thresholds. A record difference occurs when an issuer's records 
do not agree with those of securityholders as indicated, for instance, 
on certificates presented to the transfer agent for purchase, 
redemption or transfer. An aged record difference is a record 
difference that has existed for more than 30 calendar days. In 
addition, the rule requires every recordkeeping transfer agent to 
report to its appropriate regulatory agency in the event of a failure 
to post certificate detail to the master securityholder file within 
five business days of the time required by Rule 17Ad-10 (17 CFR 
240.17Ad-10). Also, a transfer agent must maintain a copy of any report 
required under Rule 17Ad-11 for a period of not less than three years 
following the date of the report, the first year in an easily 
accessible place.
    Because the information required by Rule 17Ad-11 is already 
available to transfer agents, any collection burden for small transfer 
agents is minimal. Based on a review of the number of Rule 17Ad-11 
reports the Commission, the Comptroller of the Currency, the Board of 
Governors of the Federal Reserve System, and the Federal Deposit 
Insurance Corporation received since 2012, the Commission staff 
estimates that 10 respondents will file a total of approximately 12 
reports annually. The Commission staff estimates that, on average, each 
report can be completed in 30 minutes. Therefore, the total annual 
hourly burden to the entire transfer agent industry is approximately 
six hours (30 minutes x 12 reports). Assuming an average hourly rate of 
$25 for a transfer agent staff employee, the average total internal 
cost of the report is $12.50. The total annual internal cost of 
compliance for the approximate 10 respondents is approximately $150.00 
(12 reports x $12.50).
    The retention period for the recordkeeping requirement under Rule 
17Ad-11 is three years following the date of a report prepared pursuant 
to the rule. The recordkeeping requirement under Rule 17Ad-11 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 number.
    Background documentation for this information collection may be 
viewed at the following Web site: 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: (i) 
[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 PRA_

[[Page 77397]]

[email protected]. Comments must be submitted to OMB within 30 days of 
this notice.

    Dated: December 8, 2015.
Brent J. Fields,
Secretary.
[FR Doc. 2015-31360 Filed 12-11-15; 8:45 am]
 BILLING CODE 8011-01-P

77396 Federal Register / Vol. 80, No. 239 / Monday, December 14, 2015 / Notices Commission designates the proposed business days between the hours of master securityholder file within five rule change to be operative upon 10:00 a.m. and 3:00 p.m. Copies of the business days of the time required by filing.10 filing also will be available for Rule 17Ad–10 (17 CFR 240.17Ad–10). At any time within 60 days of the inspection and copying at the principal Also, a transfer agent must maintain a filing of the proposed rule change, the office of the Exchange. All comments copy of any report required under Rule Commission summarily may received will be posted without change; 17Ad-11 for a period of not less than temporarily suspend such rule change if the Commission does not edit personal three years following the date of the it appears to the Commission that such identifying information from report, the first year in an easily action is necessary or appropriate in the submissions. You should submit only accessible place. public interest, for the protection of information that you wish to make Because the information required by investors, or otherwise in furtherance of available publicly. All submissions Rule 17Ad–11 is already available to the purposes of the Act. If the should refer to File Number SR–C2– transfer agents, any collection burden Commission takes such action, the 2015–034 and should be submitted on for small transfer agents is minimal. Commission shall institute proceedings or before January 4, 2016. Based on a review of the number of Rule to determine whether the proposed rule For the Commission, by the Division of 17Ad–11 reports the Commission, the should be approved or disapproved. Trading and Markets, pursuant to delegated Comptroller of the Currency, the Board authority.11 of Governors of the Federal Reserve IV. Solicitation of Comments Brent J. Fields, System, and the Federal Deposit Interested persons are invited to Insurance Corporation received since Secretary. submit written data, views and 2012, the Commission staff estimates [FR Doc. 2015–31326 Filed 12–11–15; 8:45 am] arguments concerning the foregoing, that 10 respondents will file a total of BILLING CODE 8011–01–P including whether the proposed rule approximately 12 reports annually. The change is consistent with the Act. Commission staff estimates that, on Comments may be submitted by any of average, each report can be completed SECURITIES AND EXCHANGE the following methods: in 30 minutes. Therefore, the total COMMISSION Electronic Comments annual hourly burden to the entire Submission for OMB Review; transfer agent industry is approximately • Use the Commission’s Internet six hours (30 minutes × 12 reports). Comment Request comment form (http://www.sec.gov/ Assuming an average hourly rate of $25 rules/sro.shtml); or Upon Written Request Copies Available for a transfer agent staff employee, the • Send an email to rule-comments@ From: Securities and Exchange average total internal cost of the report sec.gov. Please include File Number SR– Commission, Office of FOIA Services, is $12.50. The total annual internal cost C2–2015–034 on the subject line. 100 F Street NE., Washington, DC of compliance for the approximate 10 Paper Comments 20549–2736. respondents is approximately $150.00 • Send paper comments in triplicate Extension: (12 reports × $12.50). Rule 17Ad–11, SEC File No. 270–261, The retention period for the to Secretary, Securities and Exchange OMB Control No. 3235–0274. recordkeeping requirement under Rule Commission, 100 F Street NE., Notice is hereby given that pursuant 17Ad–11 is three years following the Washington, DC 20549–1090. to the Paperwork Reduction Act of 1995 date of a report prepared pursuant to the All submissions should refer to File rule. The recordkeeping requirement Number SR–C2–2015–034. This file (44 U.S.C. 3501 et seq.) (‘‘PRA’’), the Securities and Exchange Commission under Rule 17Ad–11 is mandatory to number should be included on the assist the Commission and other subject line if email is used. To help the (‘‘Commission’’) has submitted to the Office of Management and Budget regulatory agencies with monitoring Commission process and review your transfer agents and ensuring compliance comments more efficiently, please use (‘‘OMB’’) a request for approval of extension of the previously approved with the rule. This rule does not involve only one method. The Commission will the collection of confidential collection of information provided for in post all comments on the Commission’s information. Rule 17Ad–11 (17 CFR 240.17Ad–11) Internet Web site (http://www.sec.gov/ An agency may not conduct or under the Securities Exchange Act of rules/sro.shtml). Copies of the sponsor, and a person is not required to 1934 (15 U.S.C. 78a et seq.). submission, all subsequent Rule 17Ad–11 requires every respond to, a collection of information amendments, all written statements registered recordkeeping transfer agent under the PRA unless it displays a with respect to the proposed rule to report to issuers and its appropriate currently valid OMB number. change that are filed with the regulatory agency in the event that the Background documentation for this Commission, and all written aggregate market value of an aged record information collection may be viewed at communications relating to the difference exceeds certain thresholds. A the following Web site: proposed rule change between the record difference occurs when an www.reginfo.gov. Comments should be Commission and any person, other than issuer’s records do not agree with those directed to: (i) Desk Officer for the those that may be withheld from the of securityholders as indicated, for Securities and Exchange Commission, public in accordance with the instance, on certificates presented to the Office of Information and Regulatory provisions of 5 U.S.C. 552, will be transfer agent for purchase, redemption Affairs, Office of Management and available for Web site viewing and or transfer. An aged record difference is Budget, Room 10102, New Executive printing in the Commission’s Public mstockstill on DSK4VPTVN1PROD with NOTICES a record difference that has existed for Office Building, Washington, DC 20503 Reference Room, 100 F Street NE., more than 30 calendar days. In addition, or by sending an email to: (i) Shagufta_ Washington, DC 20549, on official the rule requires every recordkeeping Ahmed@comb.eop.gov; and (ii) Pamela transfer agent to report to its appropriate Dyson, Director/Chief Information 10 For purposes only of waiving the 30-day regulatory agency in the event of a Officer, Securities and Exchange operative delay, the Commission has also considered the proposed rule’s impact on failure to post certificate detail to the Commission, c/o Remi Pavlik-Simon, efficiency, competition, and capital formation. See 100 F Street NE., Washington, DC 15 U.S.C. 78c(f). 11 17 CFR 200.30–3(a)(12) and (59). 20549, or by sending an email to PRA_ VerDate Sep<11>2014 17:36 Dec 11, 2015 Jkt 238001 PO 00000 Frm 00083 Fmt 4703 Sfmt 4703 E:\FR\FM\14DEN1.SGM 14DEN1

Federal Register / Vol. 80, No. 239 / Monday, December 14, 2015 / Notices 77397 Mailbox@sec.gov. Comments must be of information; (c) ways to enhance the cardholders regarding, address changes. submitted to OMB within 30 days of quality, utility, and clarity of the Section 248.201 of Regulation S–ID this notice. information collected; and (d) ways to includes the following information Dated: December 8, 2015. minimize the burden of the collection of collection requirements for each SEC- Brent J. Fields, information on respondents, including regulated entity that qualifies as a through the use of automated collection ‘‘financial institution’’ or ‘‘creditor’’ Secretary. techniques or other forms of information under Regulation S–ID and that offers or [FR Doc. 2015–31360 Filed 12–11–15; 8:45 am] technology. Consideration will be given maintains covered accounts: (i) Creation BILLING CODE 8011–01–P to comments and suggestions submitted and periodic updating of an identity in writing within 60 days of this theft prevention program (‘‘Program’’) publication. that is approved by the board of SECURITIES AND EXCHANGE An agency may not conduct or directors, an appropriate committee COMMISSION sponsor, and a person is not required to thereof, or a designated senior Proposed Collection; Comment respond to, a collection of information management employee; (ii) periodic Request unless it displays a currently valid staff reporting to the board of directors control number. on compliance with the Identity Theft Upon Written Request Copies Available Please direct your written comments Red Flags Rules and related guidelines; From: Securities and Exchange to Pamela Dyson, Director/Chief and (iii) training of staff to implement Commission, Office of FOIA Services, Information Officer, Securities and the Program. Section 248.202 of 100 F Street NE., Washington, DC Exchange Commission, c/o Remi Pavlik- Regulation S–ID includes the following 20549–2736. Simon, 100 F Street NE., Washington, information collection requirements for Extension: DC 20549; or send an email to: PRA_ each SEC-regulated entity that is a credit Schedule 14D–1F, OMB Control No. 3235– Mailbox@sec.gov. or debit card issuer: (i) Establishment of 0376, SEC File No. 270–338. Dated: December 8, 2015. policies and procedures that assess the Notice is hereby given that, pursuant Brent J. Fields, validity of a change of address to the Paperwork Reduction Act of 1995 Secretary. notification if a request for an additional (44 U.S.C. 3501 et seq.), the Securities or replacement card on the account [FR Doc. 2015–31362 Filed 12–11–15; 8:45 am] and Exchange Commission follows soon after the address change; BILLING CODE 8011–01–P (‘‘Commission’’) is soliciting comments and (ii) notification of a cardholder, on the collection of information before issuance of an additional or summarized below. The Commission SECURITIES AND EXCHANGE replacement card, at the previous plans to submit this existing collection COMMISSION address or through some other of information to the Office of previously agreed-upon form of Management and Budget for extension Proposed Collection; Comment communication, or alternatively, and approval. Request assessment of the validity of the address Schedule 14D–1F (17 CFR 240.14d– change request through the entity’s Upon Written Request, Copies Available established policies and procedures. 102) is a form that may be used by any From: Securities and Exchange SEC staff estimates of the hour person (the ‘‘bidder’’) making a cash Commission, Office of FOIA Services, burdens associated with section 248.201 tender or exchange offer for securities of 100 F Street NE., Washington, DC under Regulation S–ID include the one- any issuer (the ‘‘target’’) incorporated or 20549–2736. time burden of complying with this organized under the laws of Canada or any Canadian province or territory that Extension: section for newly-formed SEC-regulated is a foreign private issuer, where less Regulation S–ID, OMB Control No. 3235– entities, as well as the ongoing costs of than 40% of the outstanding class of the 0692, SEC File No. 270–644. compliance for all SEC-regulated target’s securities that is the subject of Notice is hereby given that, pursuant entities. With respect to the one-time the offer is held by U.S. holders. to the Paperwork Reduction Act of 1995 burden hours, staff estimates that each Schedule 14D–1F is designed to (44 U.S.C. 3501 et seq.), the Securities newly-formed financial institution or facilitate cross-border transactions in and Exchange Commission (the creditor would incur a burden of 2 the securities of Canadian issuers. The ‘‘Commission’’) is soliciting comments hours to conduct an initial assessment information required to be filed with the on the collection of information of covered accounts. Staff estimates that Commission provides security holders summarized below. The Commission approximately 644 SEC-regulated with material information regarding the plans to submit this existing collection financial institutions and creditors are bidder as well as the transaction so that of information to the Office of newly formed each year, and the total they may make informed investment Management and Budget for extension estimated one-time burden to initially decisions. Schedule 14D–1F takes and approval. assess covered accounts is therefore approximately 2 hours per response to Regulation S–ID (17 CFR 248), 1,288 hours. Staff also estimates that prepare and is filed by approximately 2 including the information collection each financial institution or creditor respondents annually for a total requirements thereunder, is designed to that maintains covered accounts would reporting burden of 4 hours (2 hours per better protect investors from the risks of incur an additional initial burden of 29 response × 2 responses). identity theft. Under Regulation S–ID, hours to develop and obtain board mstockstill on DSK4VPTVN1PROD with NOTICES Written comments are invited on: (a) SEC-regulated entities are required to approval of a Program and to train the Whether this proposed collection of develop and implement reasonable staff of the financial institution or information is necessary for the proper policies and procedures to identify, creditor. Staff estimates that performance of the functions of the detect, and respond to relevant red flags approximately 580 SEC-regulated agency, including whether the (the ‘‘Identity Theft Red Flags Rules’’) financial institutions and creditors that information will have practical utility; and, in the case of entities that issue maintain covered accounts are newly (b) the accuracy of the agency’s estimate credit or debit cards, to assess the formed each year, and thus the total of the burden imposed by the collection validity of, and communicate with estimated one-time burden to develop VerDate Sep<11>2014 17:36 Dec 11, 2015 Jkt 238001 PO 00000 Frm 00084 Fmt 4703 Sfmt 4703 E:\FR\FM\14DEN1.SGM 14DEN1


Document Created: 2015-12-14 13:46:56
Document Modified: 2015-12-14 13:46:56
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 77396 
2025 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR