Document ID: SEC-2018-1474-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2018-09-21T04:00Z

[Federal Register Volume 83, Number 184 (Friday, September 21, 2018)]
[Notices]
[Pages 47949-47950]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-20592]

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SECURITIES AND EXCHANGE COMMISSION

Proposed Collection; 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-15; SEC File No. 270-360, OMB Control No. 3235-0409

    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'') is soliciting comments on the existing 
collection of information provided for in Rule 17Ad-15 (17 CFR 
240.17Ad-15) under the Securities Exchange Act of 1934 (15 U.S.C. 78a 
et seq.). The Commission plans to submit this existing collection of 
information to the Office of Management and Budget (``OMB'') for 
extension and approval.
    Rule 17Ad-15 (17 CFR 240.17Ad-15) under the Securities Exchange Act 
of 1934 (15 U.S.C. 78a et seq.) (the ``Act'')

[[Page 47950]]

requires the approximately 373 registered transfer agents to establish 
written standards for the acceptance or rejection of guarantees of 
securities transfers from eligible guarantor institutions. Transfer 
agents are required to establish procedures to ensure that those 
standards are used by the transfer agent to determine whether to accept 
or reject guarantees from eligible guarantor institutions. Transfer 
agents must maintain, for a period of three years following the date of 
a rejection of transfer, a record of all transfers rejected, along with 
the reason for the rejection, identification of the guarantor, and 
whether the guarantor failed to meet the transfer agent's guarantee 
standard. These recordkeeping requirements assist the Commission and 
other regulatory agencies with monitoring transfer agents and ensuring 
compliance with the rule.
    There are approximately 373 registered transfer agents. The staff 
estimates that each transfer agent will spend about 40 hours annually 
to comply with Rule 17Ad-15, or a total of 14,920 hours for all 
transfer agents (373 x 40 hours = 14,920 hours). The Commission staff 
estimates that compliance staff work at each registered transfer agent 
will result in an internal cost of compliance (at an estimated hourly 
wage of $283) of $11,320 per year per transfer agent (40 hours x $283 
per hour = $11,320 per year). Therefore, the aggregate annual internal 
cost of compliance for the approximately 373 registered transfer agents 
is approximately $4,222,360 ($11,320 x 373 = $4,222,360).
    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 on 
respondents; 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.
    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.
    Please direct your written comments to: Pamela Dyson, Director/
Chief Information Officer, Securities and Exchange Commission, c/o 
Candace Kenner, 100 F Street NE, Washington, DC 20549, or send an email 
to: [email protected].

    Dated. September 18, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-20592 Filed 9-20-18; 8:45 am]
 BILLING CODE 8011-01-P