
[Federal Register: September 15, 2008 (Volume 73, Number 179)]
[Notices]               
[Page 53297]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr15se08-120]                         

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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 Investor Education and Advocacy, Washington, DC 
20549-0213.

Extension: Rule 17Ad-3(b), SEC File No. 270-424, OMB Control No. 
3235-0473.

    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 approval of extension of the following 
previously approved collection of information as discussed below.
     Rule 17Ad-3(b) (17 CFR 240.17Ad-3(b)).
    Rule 17Ad-3(b) requires registered transfer agents that for each of 
two consecutive months have failed to turnaround at least 75% of all 
routine items in accordance with the requirements of Rule 17Ad-2(a) or 
to process at least 75% of all routine items in accordance with the 
requirements of Rule 17Ad-2(a) to send to the chief executive officer 
of each issuer for which such registered transfer agent acts a copy of 
the written notice required under Rule 17Ad-2(c), (d), and (h). The 
issuer may use the information contained in the notices in several 
ways: (1) to provide an early warning to the issuer of the transfer 
agent's non-compliance with the Commission's minimum performance 
standards regarding registered transfer agents, and (2) to assure that 
issuers are aware of certain problems and poor performances with 
respect to the transfer agents that are servicing the issuer's 
securities. If the issuer does not receive notice of a registered 
transfer agent's failure to comply with the Commission's minimum 
performance standards then the issuer will be unable to take remedial 
action to correct the problem or to find another registered transfer 
agent. Pursuant to Rule 17Ad-3(b), a transfer agent that has already 
filed a Notice of Non-Compliance with the Commission pursuant to Rule 
17Ad-2 will only be required to send a copy of that notice to issuers 
for which it acts when that transfer agent fails to turnaround 75% of 
all routine items or to process 75% of all items.
    The Commission estimates that only two transfer agents will meet 
the requirements of Rule 17Ad-3(b). If a transfer agent fails to meet 
the minimum requirements under 17Ad-3(b), such transfer agent is simply 
sending a copy of a form that had already been produced for the 
Commission. The Commission estimates a requirement will take each 
respondent approximately one hour to complete, for a total annual 
estimate burden of two hours at cost of approximately $60.00 for each 
hour. 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.
    General comments regarding the estimated burden hours 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: Kimberly_P._
Nelson@omb.eop.gov; and (ii) Lewis W. Walker, Acting 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: September 8, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-21407 Filed 9-12-08; 8:45 am]

BILLING CODE 8010-01-P
