Federal Register / Vol. 83, No. 242 / Tuesday, December 18, 2018 / Notices 64909 

32 15 U.S.C. 78c(f). 

33 15 U.S.C. 78s(b)(2). 34 17 CFR 200.30–3(a)(12). 

charged with enforcing the MSRB’s 

rules, can use the information submitted 

on MSRB Form G–45 to enhance their 

understanding of, and ability to 

monitor, 529 savings plans and ABLE 

programs. 

In approving the proposed rule 

change, the Commission also has 

considered the impact of the proposed 

rule change on efficiency, competition, 

and capital formation.32 The 

Commission does not believe that the 

proposed rule change will impose any 

burden on competition not necessary or 

appropriate in furtherance of the 

purposes of the Act. The clarification 

regarding the collection of the program 

management fee information should 

reduce instances of the MSRB needing 

to have underwriters resubmit corrected 

information that is currently required to 

be submitted under Rule G–45. The 

Commission believes the deletion of the 

Rule G–45 requirement to report threeyear annualized performance data for 

each investment option and any related 

benchmarks will better align Rule G–45 

reporting requirements with industry 

reporting standards and will likely 

reduce Rule G–45 reporting burdens. 

Additionally, with regard to the 

proposed requirement to report 

investment option closing date 

information, the Commission 

understands that this information is 

readily available to underwriters and 

the cost of submission of such 

information would be minor. The 

Commission believes that the additional 

information required to be submitted by 

the proposed rule change would be 

submitted on an equal and nondiscriminatory basis, and the 

requirement would apply equally to all 

dealers that serve as underwriters to 529 

savings plans and/or ABLE programs. 

Furthermore, the Commission believes 

that the potential burdens created by the 

proposed rule change are likely to be 

outweighed by the benefits. 

For the reasons noted above, the 

Commission believes that the proposed 

rule change is consistent with the Act. 

IV. Conclusion 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,33 that the 

proposed rule change (SR–MSRB–2018– 

08) be, and hereby is, approved. 

For the Commission, pursuant to delegated 

authority.34

Eduardo A. Aleman, 

Deputy Secretary. 

[FR Doc. 2018–27281 Filed 12–17–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

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–11, SEC File No. 270–261, 

OMB Control No. 3235–0274 

Notice is hereby given that pursuant 

to the Paperwork Reduction Act of 1995 

(‘‘PRA’’) (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 previously approved 

collection of information provided for in 

Rule 17Ad–11 (17 CFR 240.17Ad–11), 

under the Securities Exchange Act of 

1934 (15 U.S.C. 78a et seq.). 

Rule 17Ad–11 requires every 

registered recordkeeping transfer agent 

to report to issuers and its appropriate 

regulatory agency in the event that the 

aggregate market value of an aged record 

difference exceeds certain thresholds. A 

record difference occurs when an 

issuer’s records do not agree with those 

of securityholders as indicated, for 

instance, on certificates presented to the 

transfer agent for purchase, redemption 

or transfer. An aged record difference is 

a record difference that has existed for 

more than 30 calendar days. In addition, 

the rule requires every recordkeeping 

transfer agent to report to its appropriate 

regulatory agency in the event of a 

failure to post certificate detail to the 

master securityholder file within five 

business days of the time required by 

Rule 17Ad–10 (17 CFR 240.17Ad–10). 

Also, a transfer agent must maintain a 

copy of any report required under Rule 

17Ad–11 for a period of not less than 

three years following the date of the 

report, the first year in an easily 

accessible place. 

Because the information required by 

Rule 17Ad–11 is already available to 

transfer agents, any collection burden 

for small transfer agents is minimal. 

Based on a review of the number of Rule 

17Ad–11 reports the Commission, the 

Comptroller of the Currency, the Board 

of Governors of the Federal Reserve 

System, and the Federal Deposit 

Insurance Corporation received since 

2012, the Commission staff estimates 

that 8 respondents will file a total of 

approximately 10 reports annually. The 

Commission staff estimates that, on 

average, each report can be completed 

in 30 minutes. Therefore, the total 

annual hourly burden to the entire 

transfer agent industry is approximately 

five hours (30 minutes × 10 reports). 

Assuming an average hourly rate of $25 

for a transfer agent staff employee, the 

average total internal cost of the report 

is $12.50. The total annual internal cost 

of compliance for the approximate 8 

respondents is approximately $125.00 

(10 reports × $12.50). 

The retention period for the 

recordkeeping requirement under Rule 

17Ad–11 is three years following the 

date of a report prepared pursuant to the 

rule. The recordkeeping requirement 

under Rule 17Ad–11 is mandatory to 

assist the Commission and other 

regulatory agencies with monitoring 

transfer agents and ensuring compliance 

with the rule. This rule does 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 website: 

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: 

Lindsay.M.Abate@omb.eop.gov; and (ii) 

Charles Riddle, Acting Director/Chief 

Information Officer, Securities and 

Exchange Commission, c/o Candace 

Kenner, 100 F Street NE, Washington, 

DC 20549, or by sending an email to: 

PRA_Mailbox@sec.gov. Comments must 

be submitted to OMB within 30 days of 

this notice. 

Dated: December 12, 2018. 

Eduardo A. Aleman, 

Deputy Secretary. 

[FR Doc. 2018–27266 Filed 12–17–18; 8:45 am] 

BILLING CODE 8011–01–P 


amozie on DSK3GDR082PROD with NOTICES