83 FR 57762 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 222 (November 16, 2018)

Page Range		57762-57762
FR Document		2018-25048

Federal Register, Volume 83 Issue 222 (Friday, November 16, 2018)

[Federal Register Volume 83, Number 222 (Friday, November 16, 2018)]
[Notices]
[Page 57762]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-25048]


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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-13 SEC File No. 270-263; OMB Control No. 3235-0275

    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 website: 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) Charles Riddle, Acting Director/
Chief Information Officer, Securities and Exchange Commission, c/o 
Candace Kenner, 100 F Street NE, Washington, DC 20549, or by sending an 
email to [email protected]. Comments must be submitted to OMB within 
30 days of this notice.

    Dated: November 13, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-25048 Filed 11-15-18; 8:45 am]
 BILLING CODE 8011-01-P

57762 Federal Register / Vol. 83, No. 222 / Friday, November 16, 2018 / Notices

Office of Information and Regulatory Rule 17Ad–13 as are transfer agents that be submitted to OMB within 30 days of
Affairs, Office of Management and service only their own companies’ this notice.
Budget, Room 10102, New Executive securities. Dated: November 13, 2018.
Office Building, Washington, DC 20503, Approximately 100 independent,
Eduardo A. Aleman,
or by sending an email to: professional transfer agents must file the
independent accountant’s report Assistant Secretary.
Lindsay.M.Abate@omb.eop.gov; and (ii)
annually. We estimate that the annual [FR Doc. 2018–25048 Filed 11–15–18; 8:45 am]
Charles Riddle, Acting Director/Chief
Information Officer, Securities and internal time burden for each transfer BILLING CODE 8011–01–P

Exchange Commission, c/o Candace agent to comply with Rule 17Ad–13 by
Kenner, 100 F Street NE, Washington, submitting the report prepared by the
independent accountant to the SECURITIES AND EXCHANGE
DC 20549, or by sending an email to:
Commission is minimal. The time COMMISSION
PRA_Mailbox@sec.gov. Comments must
be submitted to OMB within 30 days of required for the independent accountant [Release No. 34–84572; File No. SR–BX–
this notice. to prepare the accountant’s report varies 2018–052]
with each transfer agent depending on
Dated: November 13, 2018.
the size and nature of the transfer Self-Regulatory Organizations; Nasdaq
Eduardo A. Aleman, agent’s operations. The Commission BX, Inc.; Notice of Filing and
Assistant Secretary. estimates that, on average, each report Immediate Effectiveness of Proposed
[FR Doc. 2018–25049 Filed 11–15–18; 8:45 am] can be completed by the independent Rule Change To Amend General 8 of
BILLING CODE 8011–01–P accountant in 120 hours, resulting in a the Exchange’s Rules
total of 12,000 external hours annually
(120 hours × 100 reports). The burden November 9, 2018.
SECURITIES AND EXCHANGE was estimated using Commission review Pursuant to Section 19(b)(1) of the
COMMISSION of filed Rule 17Ad–13 reports. The Securities Exchange Act of 1934
Commission estimates that, on average, (‘‘Act’’),1 and Rule 19b–4 thereunder,2
Submission for OMB Review; 120 hours are needed to perform the notice is hereby given that on October
Comment Request study, prepare the report, and retain the 29, 2018, Nasdaq BX, Inc. (‘‘BX’’ or
Upon Written Request, Copies Available required records on an annual basis. ‘‘Exchange’’) filed with the Securities
From: Securities and Exchange Assuming an average hourly rate of an and Exchange Commission
Commission, Office of FOIA Services, independent accountant of $60, the (‘‘Commission’’) the proposed rule
100 F Street NE, Washington, DC average total annual cost of the report is change as described in Items I and II
20549–2736 $7,200. The total annual cost for the below, which Items have been prepared
approximate 100 respondents is by the Exchange. The Commission is
Extension: publishing this notice to solicit
approximately $720,000.
Rule 17Ad–13 SEC File No. 270–263; OMB
Control No. 3235–0275
The retention period for the comments on the proposed rule change
recordkeeping requirement under Rule from interested persons.
Notice is hereby given that pursuant 17Ad–13 is three years following the
to the Paperwork Reduction Act of 1995 I. Self-Regulatory Organization’s
date of a report prepared pursuant to the
(44 U.S.C. 3501 et seq.) (‘‘PRA’’), the rule. The recordkeeping requirement Statement of the Terms of Substance of
Securities and Exchange Commission under Rule 17Ad–13 is mandatory to the Proposed Rule Change
(‘‘Commission’’) has submitted to the assist the Commission and other The Exchange proposes to amend
Office of Management and Budget regulatory agencies with monitoring General 8 of the Exchange’s Rules, as
(‘‘OMB’’) a request for approval of transfer agents and ensuring compliance described below.
extension of the previously approved with the rule. This rule does not involve The text of the proposed rule change
collection of information provided for in the collection of confidential is available on the Exchange’s website at
Rule 17Ad–13 (17 CFR 240.17Ad–13), information. http://nasdaqbx.cchwallstreet.com/, at
under the Securities Exchange Act of An agency may not conduct or the principal office of the Exchange, and
1934 (15 U.S.C. 78a et seq.). sponsor, and a person is not required to at the Commission’s Public Reference
Rule 17Ad–13 requires an annual respond to, a collection of information Room.
study and evaluation of internal under the PRA unless it displays a
accounting controls under the Securities currently valid OMB control number. II. Self-Regulatory Organization’s
Exchange Act of 1934 (15 U.S.C. 78a et The public may view background Statement of the Purpose of, and
seq.). It requires approximately 100 documentation for this information Statutory Basis for, the Proposed Rule
registered transfer agents to obtain an collection at the following website: Change
annual report on the adequacy of their www.reginfo.gov. Comments should be In its filing with the Commission, the
internal accounting controls from an directed to: (i) Desk Officer for the Exchange included statements
independent accountant. In addition, Securities and Exchange Commission, concerning the purpose of and basis for
transfer agents must maintain copies of Office of Information and Regulatory the proposed rule change and discussed
any reports prepared pursuant to Rule Affairs, Office of Management and any comments it received on the
17Ad–13 plus any documents prepared Budget, Room 10102, New Executive proposed rule change. The text of these
to notify the Commission and Office Building, Washington, DC 20503 statements may be examined at the
appropriate regulatory agencies in the or by sending an email to: places specified in Item IV below. The
amozie on DSK3GDR082PROD with NOTICES

event that the transfer agent is required Lindsay.M.Abate@omb.eop.gov; and (ii) Exchange has prepared summaries, set
to take any corrective action. These Charles Riddle, Acting Director/Chief forth in sections A, B, and C below, of
recordkeeping requirements assist the Information Officer, Securities and the most significant aspects of such
Commission and other regulatory Exchange Commission, c/o Candace statements.
agencies with monitoring transfer agents Kenner, 100 F Street NE, Washington,
and ensuring compliance with the rule. DC 20549, or by sending an email to 1 15 U.S.C. 78s(b)(1).
Small transfer agents are exempt from PRA_Mailbox@sec.gov. Comments must 2 17 CFR 240.19b–4.

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Document Created: 2018-11-16 07:22:45
Document Modified: 2018-11-16 07:22:45

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
FR Citation		83 FR 57762