Submission for OMB Review; Comment Request

[Federal Register Volume 64, Number 134 (Wednesday, July 14, 1999)]
[Notices]
[Page 38046]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-17931]


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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 Filings and Information Services, 
Washington, DC 20549.

[Extension: Rule 17Ac3-1(a) and Form TA-W; SEC File No. 270-96; OMB 
Control No. 3235-0151]

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange 
Commission (``Commission'') has submitted to the Office of Management 
and Budget requests for approval of extension on the following rule and 
form: Rule 17Ac3-1(a) and Form TA-W.
    Subsection (c)(3)(C) of section 17A of the Securities Exchange Act 
of 1934 (``Exchange Act'') authorizes transfer agents registered with 
an appropriate regulatory agency (``ARA`'') to withdraw from 
registration by filing with the ARA a written notice of withdrawal and 
by agreeing to such terms and conditions as the ARA deems necessary or 
appropriate in the public interest, for the protection of investors, or 
in the furtherance of the purposes of Section 17A.
    In order to implement section 17A(c)(3)(C) of the Exchange Act the 
Commission, on September 1, 1977, promulgated rule 17Ac3-1(a) and 
accompanying Form TA-W. Rule 17Ac3-1(a) provides that notice of 
withdrawal from registration as a transfer agent with the Commission 
shall be filed on Form TA-W. Form TA-W requires the withdrawing 
transfer agent to provide the Commission with certain information, 
including (1) The locations where transfer agent activities are or were 
performed; (2) the reasons for ceasing the performance of such 
activities; (3) disclosure of unsatisfied judgments or liens; and (4) 
information regarding successor transfer agents.
    The Commission uses the information disclosed on Form TA-W to 
determine whether the registered transfer agent applying for withdrawal 
from registration as a transfer agent should be allowed to deregister, 
if so, whether the Commission should attach to the granting of the 
application any terms or conditions necessary or appropriate in the 
public interest, for the protection of investors, or in furtherance of 
the purposes of section 17A of the Exchange Act. Without Rule 17Ac3-
1(a) and Form TA-W, transfer agents registered with the Commission 
would not have a means for voluntary deregistration when necessary or 
appropriate to do so.
    Respondents file approximately thirty Form TA-Ws with the 
Commission annually. The filing of a Form TA-W occurs only once, when a 
transfer agent is seeking deregistration. In view of the ready 
availability of the information requested by Form TA-W, its short and 
simple presentation, and the Commission's experience with the Form, we 
estimate that approximately one half hour is required to complete Form 
TA-W, including clerical time. Thus, the total burden of fifteen hours 
of preparation for all transfer agents seeking deregistration in any 
one year is negligible.
    The Commission estimates a cost of approximately $35 for each half 
hour required to complete a Form TA-W. Therefore, based upon a total of 
fifteen hours, transfer agents spend approximately $1,050 each year to 
complete thirty Form TA-Ws.
    Written comments regarding the above information should be directed 
to the following persons: (i) Desk Officer for the Securities and 
Exchange Commission, Office of Information and Regulatory Affairs, 
Office of Management and Budget, Room 10202, New Executive Office 
Building, Washington, DC 20503; and (ii) Michael E. Bartell, Associate 
Executive Director, Office of Information Technology, Securities and 
Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549. 
Comments must be submitted to OMB within 30 days of this notice.

    Dated: July 7, 1999.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 99-17931 Filed 7-13-99; 8:45 am]
BILLING CODE 8010-01-M