[Federal Register Volume 77, Number 61 (Thursday, March 29, 2012)]
[Notices]
[Pages 19037-19038]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-7521]
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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.
Extension:
Rule 17Ac2-2 and Form TA-2, SEC File No. 270-298, OMB Control
No. 3235-0337.
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 (``OMB'') a request for approval of the existing collection
of information provided for in Rule 17Ac2-2 (17 CFR 240.17Ac2-2) and
Form TA-2 under the Securities Exchange Act of 1934 (15 U.S.C. 78a et
seq.) (``Exchange Act'').
Rule 17Ac2-2 and Form TA-2 under the Exchange Act require transfer
agents to file an annual report of their business activities with the
Commission.
These reporting requirements are designed to ensure that all
registered transfer agents are providing the Commission with sufficient
information on an annual basis about the transfer agent community and
for the Commission to effectively monitor business activities of
transfer agents.
The amount of time needed to comply with the requirements of
amended Rule 17Ac2-2 and Form TA-2 varies. From the total 473
registered transfer agents, approximately 30 registrants would be
required to complete only Questions 1 through 4 and the signature
section of amended Form TA-2, which the Commission estimates would take
each registrant about 30 minutes, for a total burden of 15 hours (30 x
.5 hours). Approximately 111 registrants would be required to answer
Questions 1 through 5, 10, and 11 and the signature section, which the
Commission estimates would take about 1 hour and 30 minutes, for a
total of 166.5 hours (111 x 1.5 hours). The remaining registrants,
[[Page 19038]]
approximately 332, would be required to complete the entire Form TA-2,
which the Commission estimates would take about 6 hours, for a total of
1,992 hours (332 x 6 hours). The aggregate annual burden on all 473
transfer agents registered with the Commission as of November 1, 2011,
is thus approximately 2,174 hours (15 hours + 166.5 hours + 1,992
hours).
We estimate that the total cost of reviewing and entering the
information reported on the Forms TA-2 for respondents is $41.50 per
hour. The Commission estimates that the total internal labor cost of
complying with the rule and form requirements would be $90,221 annually
($41.50 x 2,174). This, however, is solely a monetization of the hour
burden and is not a separate cost burden.
This rule does not involve the collection of confidential
information.
The Commission may not conduct or sponsor a collection of
information unless it displays a currently valid Office of Management
and Budget (``OMB'') control number. No person shall be subject to any
penalty for failing to comply with a collection of information subject
to the Paperwork Reduction Act that does not display a valid OMB
control 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: [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 email to: [email protected]. Comments must be submitted to OMB within 30 days of
this notice.
Dated: March 23, 2012.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-7521 Filed 3-28-12; 8:45 am]
BILLING CODE 8011-01-P