Document ID: SEC-2009-0078-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2009-01-16T05:00Z

[Federal Register: January 16, 2009 (Volume 74, Number 11)]
[Notices]               
[Page 3116]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr16ja09-141]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Proposed Collection; Comment Request

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

Extension: Rules 17Ad-6 and 17Ad-7; OMB Control No. 3235-0291; SEC 
File No. 270-151.

    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 existing 
collection of information provided for in Rules 17Ad-6 and 17Ad-7 (17 
CFR 240.17Ad-6 and -7) under the Securities Exchange Act of 1934 (15 
U.S.C. 78a et seq.) (``Exchange Act''). The Commission plans to submit 
this existing collection of information to the Office of Management and 
Budget for extension and approval.
    Rule 17Ad-6 under the Exchange Act requires every registered 
transfer agent to make and keep current records about a variety of 
information, such as: (1) Specific operational data regarding the time 
taken to perform transfer agent activities (to ensure compliance with 
the minimum performance standards in Rule 17Ad-2 (17 CFR 240.17Ad-2); 
(2) written inquiries and requests by shareholders and broker-dealers 
and response time thereto; (3) resolutions, contracts or other 
supporting documents concerning the appointment or termination of the 
transfer agent; (4) stop orders or notices of adverse claims to the 
securities; and (5) all canceled registered securities certificates.
    Rule 17Ad-7 under the Securities Exchange Act of 1934 (15 U.S.C. 
78b et seq.) requires each registered transfer agent to retain the 
records specified in Rule 17Ad-6 in an easily accessible place for a 
period of six months to six years, depending on the type of record or 
document. Rule 17Ad-7 also specifies the manner in which records may be 
maintained using electronic, microfilm, and microfiche storage methods.
    These recordkeeping requirements are designed to ensure that all 
registered transfer agents are maintaining the records necessary for 
them to monitor and keep control over their own performance and for the 
Commission to adequately examine registered transfer agents on an 
historical basis for compliance with applicable rules.
    The Commission estimates that approximately 600 registered transfer 
agents will spend a total of 300,000 hours per year complying with 
Rules 17Ad-6 and 17Ad-7 (500 hours per year per transfer agent).
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information 
shall have practical utility; (b) the accuracy of the Commission'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 Charles Boucher, 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.

    Dated: January 12, 2009.
Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E9-880 Filed 1-15-09; 8:45 am]

BILLING CODE 8011-01-P