34280 Federal Register / Vol. 83, No. 139 / Thursday, July 19, 2018 / Notices 

1 (2000 notices × 15 minutes) = 30,000 minutes/ 

60 minutes = 500 hours. 

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: Shagufta_

Ahmed@omb.eop.gov; and (ii) Pamela 

Dyson, 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: July 13, 2018. 

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–15377 Filed 7–18–18; 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: 

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 382 registered transfer 

agents will spend a total of 191,000 

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 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: Shagufta_

Ahmed@omb.eop.gov; and (ii) Pamela 

Dyson, 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: July 13, 2018. 

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–15373 Filed 7–18–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Proposed Collection; 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: 

Regulation R, Rule 701, SEC File No. 270– 

562, OMB Control No. 3235–0624 

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’’) is soliciting comments 

on the existing collection of information 

provided for in Regulation R, Rule 701 

(17 CFR 247.701) under the Securities 

Exchange Act of 1934 (15 U.S.C. 78a et 

seq.). The Commission plans to submit 

this existing collection of information to 

the Office of Management and Budget 

(‘‘OMB’’) for extension and approval. 

Regulation R, Rule 701 requires a 

broker or dealer (as part of a written 

agreement between the bank and the 

broker or dealer) to notify the bank if the 

broker or dealer makes certain 

determinations regarding the financial 

status of the customer, a bank 

employee’s statutory disqualification 

status, and compliance with suitability 

or sophistication standards. 

The Commission estimates that 

brokers or dealers would, on average, 

notify 1,000 banks approximately two 

times annually about a determination 

regarding a customer’s high net worth or 

institutional status or suitability or 

sophistication standing as well as a 

bank employee’s statutory 

disqualification status. Based on these 

estimates, the Commission anticipates 

that Regulation R, Rule 701 would result 

in brokers or dealers making 

approximately 2,000 notifications to 

banks per year. The Commission further 

estimates (based on the level of 

difficulty and complexity of the 

applicable activities) that a broker or 

dealer would spend approximately 15 

minutes per notice to a bank. Therefore, 

the estimated total annual third party 

disclosure burden for the requirements 

in Regulation R, Rule 701 is 500 1 hours 

for brokers or dealers. 

Written comments are invited on: (a) 

Whether the proposed collection of 

information is necessary for the proper 

performance of the functions of the 

Commission, including whether the 

information shall have practical utility; 


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