[Federal Register Volume 81, Number 4 (Thursday, January 7, 2016)]
[Notices]
[Page 834]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-33215]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-363, OMB Control No. 3235-0413]
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-16.
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
existing collection of information provided for in Rule 17Ad-16 (17 CFR
240.17Ad-16) under the Securities Exchange Act of 1934 (15 U.S.C. 78a
et seq.).
Rule 17Ad-16 requires a registered transfer agent to provide
written notice to the appropriate qualified registered securities
depository when assuming or terminating transfer agent services on
behalf of an issuer or when changing its name or address. In addition,
transfer agents that provide such notice shall maintain such notice for
a period of at least two years in an easily accessible place. This rule
addresses the problem of certificate transfer delays caused by transfer
requests that are directed to the wrong transfer agent or the wrong
address.
We estimate that the transfer agent industry submits approximately
6,970 Rule 17Ad-16 notices to appropriate qualified registered
securities depositories. The staff estimates that the average amount of
time necessary to create and submit each notice is approximately 15
minutes per notice. Accordingly, the estimated total industry burden is
1,743 hours per year (15 minutes multiplied by 6,970 filed annually).
Because the information needed by transfer agents to properly
notify the appropriate registered securities depository is readily
available to them and the report is simple and straightforward, the
cost is relatively minimal. The average internal compliance cost to
prepare and send a notice is approximately $7.50 (15 minutes at $30 per
hour). This yields an industry-wide internal compliance cost estimate
of $52,275 (6,970 notices multiplied by $7.50 per notice).
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: December 30, 2015.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2015-33215 Filed 1-6-16; 8:45 am]
BILLING CODE 8011-01-P