Document ID: SEC-2018-1942-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2018-12-18T05:00Z

[Federal Register Volume 83, Number 242 (Tuesday, December 18, 2018)]
[Notices]
[Page 64909]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-27266]

-----------------------------------------------------------------------

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 x 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 x $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