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[Federal Register Volume 89, Number 231 (Monday, December 2, 2024)]
[Notices]
[Pages 95255-95256]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-28223]

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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-029, OMB Control No. 3235-0037]

Submission for OMB Review; Comment Request; Extension: Rule 17f-
1(c) and Form X-17F-1A

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 
20549-2736.

    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 17f-
1(c) (17 CFR 240.17f-1(c) and Form X-17F-1A (17 CFR 249.100) under the 
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.).
    Rule 17f-1(c) requires approximately 9,500 entities in the 
securities industry to report lost, stolen, missing, or counterfeit 
securities certificates to the Commission or its designee, to a 
registered transfer agent for the issue, and, when criminal activity is 
suspected, to the Federal Bureau of Investigation. Such entities are 
required to use Form X-17F-1A to make such reports. Filing these 
reports fulfills a statutory requirement that reporting institutions 
report and inquire about missing, lost, counterfeit, or stolen 
securities. Since these reports are compiled in a central database, the 
rule facilitates reporting institutions to access the database that 
stores information for the Lost and Stolen Securities Program 
(``Program'').

[[Page 95256]]

    We estimate that the total reporting burden for Regulation 17f-
1(c), as adopted, for all respondents is approximately 2,937.5 hours. 
These burdens consist of a one-time burden in connection with Accenture 
Federal Services LLC (``Accenture'') becoming the new Program operator 
of approximately 2,000 hours for set-up, and annual burdens thereafter 
of approximately 25 hours for maintenance and 287.5 hours for 
reporting. [2,000 + 3(25 + 287.5) = 2,937.5 hours].
     The Commission estimates that approximately 50 reporting 
institutions will be subject to this one-time burden, which corresponds 
to 40 hours for each of the applicable reporting institutions. Further, 
the Commission estimates that updates in the applicable reporting 
institutions' systems to maintain this connectivity will impose an 
aggregate ongoing annualized burden of 25 burden hours, which 
corresponds to 30 minutes for each of the applicable reporting 
institutions. Accordingly, this estimated burden to establish and 
maintain connectivity with Accenture over three years results in an 
aggregate burden of 691.67 hours per year or 13.83 hours per applicable 
reporting institution per year. [(50 Respondents x 1 Responses over 3 
years) = 50 x (40 hour) = 2,000 hours/3 years = 666.67 hours per year; 
(50 Respondents x 1 Responses) = 50 x (.5 hours) = 25 hours; 666.67 
hours + 25 hours = 691.67 hours; 691.67 hours/50 Respondents = 13.83 
hours/Respondent].
     In addition, we estimate that approximately 115 reporting 
institutions will submit a report on average 30 times each year. The 
staff estimates that the average amount of time necessary for each 
reporting institution to comply with the Rule 17f-1(c) and Form X-17F-
1A is five minutes. As a result, the total hourly burden for the 
periodic reporting burden under Rule 17f-1(c) is approximately 287.5 
hours [(115 Respondents x 30 Responses) x (5 minutes/60 minutes/hour)].
    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 30-day public comment period for this information collection 
request opens on December 3, 2024 and ends on January 2, 2025. View the 
full information request and submit comments at https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202409-3235-021 or email 
comments to [email protected].

    Dated: November 26, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-28223 Filed 11-29-24; 8:45 am]
BILLING CODE 8011-01-P
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