

[Federal Register: August 7, 2006 (Volume 71, Number 151)]
[Notices]               
[Page 44728-44729]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr07au06-109]                         

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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 Filings and Information Services, Washington, DC 
20549.

Extension: Rule 17f-1(c) and Form X-17F-1A; SEC File No. 270-29; OMB 
Control No. 3235-0037.

    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 extension of the previously approved 
collection of information discussed below.
     Rule 17f-1(c) and Form X-17F-1A: Reporting of missing, 
lost, stolen, or counterfeit securities.
    Rule 17f-1(c) (17 CFR 240.17f-1(c)) under the Securities Exchange 
Act of 1934 (15 U.S.C. 78a et seq.) (the ``Act'') requires 
approximately 26,000 entities in the securities industry to report 
lost, stolen, missing, or counterfeit securities certificates to the 
Commission or its designee, to a registered transfer agent for the 
issue, and, when criminal activity is suspected, to the Federal Bureau 
of Investigation. Such entities are required to use Form X-17F-1A (17 
CFR 249.100) to make such reports. Filing these reports fulfills a 
statutory requirement that reporting institutions report and inquire 
about missing, lost, counterfeit, or stolen securities. Since these 
reports are compiled in a central database, the rule facilitates 
reporting institutions to access the database that stores information 
for the Lost and Stolen Securities Program.
    We estimate that 26,000 reporting institutions will report that 
securities certificates are either missing, lost, counterfeit, or 
stolen annually and that

[[Page 44729]]

each reporting institution will submit this report 50 times each year. 
The staff estimates that the average amount of time necessary to comply 
with Rule 17f-1(c) and Form X-17F-1A is five minutes per submission. 
The total burden is 108,333 hours annually for the entire industry 
(26,000 times 50 times 5 divided by 60).
    Rule 17f-1(c) is a reporting rule and does not specify a retention 
period. The rule requires an incident-based reporting requirement by 
the reporting institutions when securities certificates are discovered 
to be missing, lost, counterfeit, or stolen. Registering under rule 
17f-1(c) is mandatory to obtain the benefit of a central database that 
stores information about missing, lost, counterfeit, or stolen 
securities for the Lost and Stolen Securities Program. Reporting 
institutions required to register under Rule 17f-1(c) will not be kept 
confidential; however, the Lost and Stolen Securities Program database 
will be kept confidential. 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) the 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: David_Rostker@omb.eop.gov; and (ii) 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 to OMB 
within 30 days of this notice.

    Dated: July 31, 2006
Nancy M. Morris,
Secretary.
[FR Doc. E6-12700 Filed 8-4-06; 8:45 am]

BILLING CODE 8010-01-P
