Document ID: SEC-2010-0039-0001
Agency: sec
Document Type: Notice
Title: Submission for OMB Review; Comment Request
Posted Date: 2010-01-08T05:00Z

[Federal Register Volume 75, Number 5 (Friday, January 8, 2010)]
[Notices]
[Page 1089]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: X10-690108]

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SECURITIES AND EXCHANGE COMMISSION

Submission for OMB Review; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549-0213.

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 (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 approval of extension of the existing 
collection of information provided for Rule 17Ad-11 (17 CFR 240.17Ad-
11) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) 
(``Exchange Act'').
    Rule 17Ad-11 requires all registered transfer agents to report to 
issuers and the appropriate regulatory agency in the event that aged 
record differences exceed certain dollar value thresholds. An aged 
record difference occurs when an issuer's records do not agree with 
those of securityowners as indicated, for instance, on certificates 
presented to the transfer agent for purchase, redemption or transfer. 
In addition, the rule requires transfer agents to report to the 
appropriate regulatory agency in the event of a failure to post 
certificate detail to the master securityholder file within 5 business 
days of the time required by Rule 17Ad-10 (17 CFR 240.17Ad-10). Also, 
transfer agents must maintain a copy of each report prepared under Rule 
17Ad-11 for a period of three years following the date of the report. 
This recordkeeping requirement assists the Commission and other 
regulatory agencies with monitoring transfer agents and ensuring 
compliance with the rule.
    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 2006, the Commission estimates 
that 25 respondents will file a total of approximately 30 reports 
annually. The Commission estimates that each report can be completed in 
30 minutes. Therefore, the total annual hourly burden to the entire 
transfer agent industry is approximately 15 hours (30 minutes 
multiplied by 30 reports). Assuming an average hourly rate of a 
transfer agent staff employee of $25, the average total cost of the 
report is $12.50. The total cost for the approximate 25 respondents is 
approximately $750.
    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.
    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: (i) 
Shagufta_Ahmed@comb.eop.gov; and (ii) Charles Boucher, 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 to OMB 
within 30 days of this notice.

     January 4, 2010.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-68 Filed 1-7-10; 8:45 am]
BILLING CODE 8011-01-P