Document ID: SEC-2012-1585-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2012-09-26T04:00Z

[Federal Register Volume 77, Number 187 (Wednesday, September 26, 2012)]
[Notices]
[Pages 59225-59226]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-23601]

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SECURITIES AND EXCHANGE COMMISSION

Proposed Collection; Comment Request

Upon Written Request, Copies Available From: U.S. Securities and 
Exchange

[[Page 59226]]

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 (17 CFR 240.17Ad-17) requires approximately 477 
registered transfer agents to conduct searches using third party 
database vendors to attempt to locate lost security holders under the 
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq). These 
recordkeeping requirements assist the Commission and other regulatory 
agencies with monitoring transfer agents and ensuring compliance with 
the rule. We estimate 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 2,385 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 $238,500.
    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.
    The Commission may not conduct or sponsor a collection of 
information unless it displays a currently valid control number. No 
person shall be subject to any penalty for failing to comply with a 
collection of information subject to the PRA that does not display a 
valid Office of Management and Budget (OMB) control number.
    Please direct your written comments to: Thomas Bayer, Director/
Chief Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 6432 General Green Way, Alexandria, Virginia 22312 or 
send an email to: PRA_Mailbox@sec.gov.

    Dated: September 20, 2012.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-23601 Filed 9-25-12; 8:45 am]
BILLING CODE 8011-01-P