

[Federal Register: November 1, 2006 (Volume 71, Number 211)]
[Notices]               
[Page 64323]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr01no06-129]                         

-----------------------------------------------------------------------

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 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 (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 17Ad-15--Signature Guarantees

    Rule 17Ad-15 (17 CFR 240.17Ad-15) under the Securities Exchange Act 
of 1934 (15 U.S.C. 78a et seq.) (the ``Act'') requires approximately 
760 transfer agents to establish written standards for accepting and 
rejecting guarantees of securities transfers from eligible guarantor 
institutions. Transfer agents are also 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 760 registered transfer agents. The staff 
estimates that every transfer agent will spend about 40 hours annually 
to comply with Rule 17Ad-15. The total annual burden for all transfer 
agents is 30,400 hours. The average cost per hour is approximately $50. 
Therefore, the total cost of compliance for all transfer agents is 
$1,520,000.
    The retention period for the recordkeeping requirement under Rule 
17Ad-15 is three years following the date of a rejection of transfer. 
The recordkeeping requirement under the rule is mandatory to assist the 
Commission and other regulatory agencies with monitoring transfer 
agents and ensuring compliance with the rule. This rule does not 
involve the collection of confidential information. 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) 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 by 
sending an e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted 
to OMB within 30 days of this notice.

    Dated: October 23, 2006.
Nancy M. Morris,
Secretary.
[FR Doc. E6-18361 Filed 10-31-06; 8:45 am]

BILLING CODE 8011-01-P
