[Federal Register Volume 80, Number 53 (Thursday, March 19, 2015)]
[Notices]
[Pages 14418-14419]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-06316]
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SECURITIES AND EXCHANGE COMMISSION
Submission for OMB Review; Comment Request
Upon Written Request, Copies Available From: Securities and Exchange
[[Page 14419]]
Commission, Office of FOIA Services, 100 F Street NE., Washington, DC
20549-2736.
Extension: Rules 17Ad-6 and 17Ad-7.
SEC File No. 270-151, OMB Control No. 3235-0291.
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 extension of the existing
collection of information provided for in the following rules: Rule
17Ad-6 (17 CFR 240.17Ad-6) and Rule 17Ad-7 (17 CFR 240.17Ad-7) under
the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (``Exchange
Act'').
Rule 17Ad-6 under the Exchange Act requires every registered
transfer agent to make and keep current records about a variety of
information, such as: (1) Specific operational data regarding the time
taken to perform transfer agent activities (to ensure compliance with
the minimum performance standards in Rule 17Ad-2 (17 CFR 240.17Ad-2));
(2) written inquiries and requests by shareholders and broker-dealers
and response time thereto; (3) resolutions, contracts, or other
supporting documents concerning the appointment or termination of the
transfer agent; (4) stop orders or notices of adverse claims to the
securities; and (5) all canceled registered securities certificates.
Rule 17Ad-7 under the Exchange Act requires each registered
transfer agent to retain the records specified in Rule 17Ad-6 in an
easily accessible place for a period of six months to six years,
depending on the type of record or document. Rule 17Ad-7 also specifies
the manner in which records may be maintained using electronic,
microfilm, and microfiche storage methods.
These recordkeeping requirements are designed to ensure that all
registered transfer agents are maintaining the records necessary for
transfer agents to monitor and keep control over their own performance
and for the Commission to adequately examine registered transfer agents
on an historical basis for compliance with applicable rules.
The Commission estimates that approximately 429 registered transfer
agents will spend a total of 214,500 hours per year complying with
Rules 17Ad-6 and 17Ad-7 (500 hours per year per transfer agent).
The retention period under Rule 17Ad-7 for the recordkeeping
requirements under Rule 17Ad-6 is six months to six years, depending on
the particular record or document. The recordkeeping and retention
requirements under Rules 17Ad-6 and 17Ad-7 are mandatory to assist the
Commission and other regulatory agencies with monitoring transfer
agents and ensuring compliance with the rules. These rules do 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 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) 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: [email protected]. Comments must be submitted to OMB within
30 days of this notice.
Dated: March 13, 2015.
Brent J. Fields,
Secretary.
[FR Doc. 2015-06316 Filed 3-18-15; 8:45 am]
BILLING CODE 8011-01-P