[Federal Register Volume 76, Number 108 (Monday, June 6, 2011)]
[Notices]
[Pages 32380-32381]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-13857]
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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 Investor Education and Advocacy, Washington, DC
20549-0213.
Extension:
Rule 17Ac3-1(a) and SEC File No. 270-96; OMB Control No. 3235-
0151; Form TA-W (1669).
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) (17 CFR 240.17Ac3-1(a)) and Form TA-W (17 CFR
249b.101) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et
seq.).
Section 17A(c)(4)(B) of the Securities Exchange Act of 1934 (15
U.S.C. 78a et seq.) 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)(4)(B) of the Exchange Act the
Commission, on September 1, 1977, promulgated Rule 17Ac3-1(a) and
accompanying Form TA-W. On January 11, 2007, the Commission amended
Rule 17Ac3-1(a) and accompanying Form TA-W to require that the form be
filed in electronic format through EDGAR. Rule 17Ac3-1(a) provides that
notice of withdrawal of 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
and, 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 to voluntarily deregister when necessary or
appropriate to do so.
Respondents file approximately 50 TA-Ws with the Commission
annually. A Form TA-W filing occurs only once, when a transfer agent is
seeking deregistration. Respondents file approximately 50 TA-Ws with
the Commission annually. A Form TA-W filing occurs only once, when a
transfer agent is seeing deregistration. Approximately 80 percent of
Form TA-Ws are completed by the transfer agent or its employees and
approximately 20 percent of Forms TA-W are completed by an outside
filing agent that is hired by the registrant to prepare the form and
file it electronically. In view of the readily-available information
requested by Form TA-W, its short and simple presentation, and the
Commission's experience with the filers, we estimate that approximately
30 minutes is required to complete and file Form TA-W, which consists
primarily of external
[[Page 32381]]
labor costs plus a nominal and unquantifiable amount of computer
operations/maintenance cost (because the Forms must be filed
electronically through the Commission's EDGAR system). For transfer
agents that complete Form TA-W themselves, we estimate the cost per
filing is $25 (.5 hours times $50 average hourly rate for clerical
staff time), which is an internal labor cost. We estimate that outside
filing agents charge $100 to complete and file at TA-W on behalf of a
registrant, reflecting an external cost to respondents.
The Commission may not conduct or sponsor a collection of
information unless it displays a currently valid control number. No
person shall be subject to any penalty for failing to comply with a
collection of information subject to the PRA that does not display a
valid Office of Management and Budget (OMB) control number.
Background documentation for this information collection may be
viewed at the following link, 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 e-mail to: [email protected]; and (ii) Thomas Bayer, Director/Chief Information
Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon,
6432 General Green Way, Alexandria, VA 22312, or send an e-mail to:
[email protected]. Comments must be submitted to OMB within 30 days
of this notice.
May 31, 2011.
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-13857 Filed 6-3-11; 8:45 am]
BILLING CODE 8011-01-P