Document ID: SEC-2008-0193-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2008-02-05T05:00Z

[Federal Register: February 5, 2008 (Volume 73, Number 24)]
[Notices]               
[Page 6748]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr05fe08-90]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Proposed Collection; Comment Request

Upon written request, copies available from: U.S. Securities and 
Exchange Commission, Office of Investor Education and Advocacy, 
Washington, DC 20549-0213.

Extension:
    Rule 17Ac3-1(a); SEC File No. 270-96; OMB Control No. 3235-015; 
Form TA-W(1669); SEC File No. 270-96; OMB Control No. 3235-0151.

    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'') is soliciting comments on the collection of 
information summarized below. The Commission plans to submit this 
existing collection of information to the Office of Management and 
Budget for extension and approval.
    Subsection (c)(4)(B) of Section 17A of the Securities Exchange Act 
of 1934 (15 U.S.C. 78 et seq.) authorizes transfer agents registered 
with an appropriate regulatory agency (``ARA'') to withdraw from 
registration by filing with the ARA a written notice of withdrawal and 
by agreeing to such terms and conditions as the ARA deems necessary or 
appropriate in the public interest, for the protection of investors, or 
in the furtherance of the purposes of Section 17A.
    In order to implement Section 17A(c)(4)(B) of the Exchange Act the 
Commission, on September 1, 1977, promulgated Rule 17Ac3-1(a) (17 CFR 
240.17Ac3-1(a)) and accompanying Form TA-W (17 CFR 249b.101). Rule 
17Ac3-1(a) provides that notice of withdrawal from registration as a 
transfer agent with the Commission shall be filed on Form TA-W. Form 
TA-W requires the withdrawing transfer agent to provide the Commission 
with certain information, including: (1) The locations where transfer 
agent activities are or were performed; (2) the reasons for ceasing the 
performance of such activities; (3) disclosure of unsatisfied judgments 
or liens; and (4) information regarding successor transfer agents.
    The Commission uses the information disclosed on Form TA-W to 
determine whether the registered transfer agent applying for withdrawal 
from registration as a transfer agent should be allowed to deregister 
and, if so, whether the Commission should attach to the granting of the 
application any terms or conditions necessary or appropriate in the 
public interest, for the protection of investors, or in furtherance of 
the purposes of Section 17A of the Exchange Act. Without Rule 17Ac3-
1(a) and Form TA-W, transfer agents registered with the Commission 
would not have a means for voluntary deregistration when necessary or 
appropriate to do so.
    Respondents file approximately 50 TA-Ws with the Commission 
annually. A Form TA-W filing occurs only once, when a transfer agent is 
seeking deregistration. Since the form is simple and straightforward, 
the Commission estimates that a transfer agent need spend no more than 
30 minutes to complete a Form TA-W. Therefore, the total average annual 
burden to covered entities is approximately 25 hours of preparation and 
maintenance time.
    In view of the ready availability of the information requested by 
Form TA-W, its short and simple presentation, and the Commission's 
experience with the filers, we estimate that approximately 30 minutes 
is required to complete Form TA-W, including clerical time. 
Approximately 80 percent of these are completed by the transfer agent 
or its employees and approximately 20 percent are completed by an 
outside filing agent. In either case, we estimate a cost of 
approximately $35 for each 30 minutes. Therefore, the total average 
annual cost burden is approximately $1,750.
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the agency, including whether the information will 
have practical utility; (b) the accuracy of the agency's estimate of 
the burden of the collection of information; (c) ways to enhance the 
quality, utility, and clarity of the information collected; and (d) 
ways to minimize the burden of the collection of information on 
respondents, including through the use of automated collection 
techniques or other forms of information technology. Consideration will 
be given to comments and suggestions submitted in writing within 60 
days of this publication.
    Comments should be directed to: R. Corey Booth, Director/Chief 
Information Officer, Securities and Exchange Commission, C/O Shirley 
Martinson, 6432 General Green Way, Alexandria, Virginia 22312 or send 
an e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted within 
60 days of this notice.

    Dated: January 28, 2008.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E8-1966 Filed 2-4-08; 8:45 am]

BILLING CODE 8011-01-P