Document ID: SEC-2008-0799-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2008-06-10T04:00Z

[Federal Register: June 10, 2008 (Volume 73, Number 112)]
[Notices]               
[Page 32750-32751]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr10jn08-86]                         

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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 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'') 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.

 Rule 17Ad-17 Transfer Agents' Obligation To Search for Lost 
Security holders

    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. These 
recordkeeping requirements assist the Commission and other regulatory 
agencies with monitoring transfer agents and ensuring compliance with 
the rule.
    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 2,432 hours annually for all transfer 
agents. 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 $3.3 million.
    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 shall 
have practical utility; (b) the accuracy of the agency's estimates of 
the burden of the proposed collection of information; (c) ways to 
enhance the quality, utility, and clarity of the information to be 
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.

[[Page 32751]]

    Dated: June 4, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-12949 Filed 6-9-08; 8:45 am]

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