Document ID: SEC-2008-1199-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals,Submissions, and Approvals
Posted Date: 2008-08-29T04:00Z

[Federal Register: August 29, 2008 (Volume 73, Number 169)]
[Notices]               
[Page 51027]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr29au08-139]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Submission for OMB Review; 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 17Ad-17; OMB Control No. 3235-0469; SEC File No. 270-412.

    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 a request for extension of the previously approved 
collection of information discussed below.
     Rule 17Ad-17 Transfer Agents' Obligation to Search for 
Lost Securityholders.
    Rule 17Ad-17 (17 CFR 240.17Ad-17) requires approximately 608 
registered transfer agents to conduct searches using third party 
database vendors to attempt to locate lost securityholders. The staff 
estimates that the average number of hours necessary for each transfer 
agent to comply with Rule 17Ad-17 is five hours annually. The total 
burden is approximately 3,040 hours annually for all transfer 
agents.\1\ The cost of compliance for each individual transfer agent 
depends on the number of lost accounts for which it is responsible. 
Based on information received from transfer agents, we estimate that 
the annual cost industry wide is approximately $3.3 million.
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    \1\ The 60-day notice for this Paperwork Reduction Act extension 
referred to a burden of 2,432 hours. See 73 FR 32750 (Jun. 10, 
2008). This burden was incorrect. The correct burden is 3,040 hours.
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    The retention period for the recordkeeping requirement under Rule 
17Ad-17 is three years. The recordkeeping requirement under Rule 17Ad-
17 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. 
Please note that an agency may not conduct or sponsor, and a person is 
not required to respond to, a collection of information unless it 
displays a currently valid control number.
    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 e-mail to: Alexander_
T._Hunt@omb.eop.gov; and (ii) Lewis W. Walker, Acting Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Shirley 
Martinson, 6432 General Green Way, Alexandria, VA 22312 or send an e-
mail to: PRA_Mailbox@sec.gov. Comments must be submitted within 30 
days of this notice.

    Dated: August 25, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-20065 Filed 8-28-08; 8:45 am]

BILLING CODE 8010-01-P