
[Federal Register: August 24, 2009 (Volume 74, Number 162)]
[Notices]               
[Page 42707]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr24au09-109]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Submission for OMB Review; Comment Request

Upon written request, copies available from: U.S. Securities and 
Exchange Commission, Office of Investor Education and Advocacy, 
Washington, DC 20549-0213.

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 approval of extension of the existing 
collection of information provided for in the following rule: Rule 17f-
1(c) and Form X-17F-IA (17 CFR 249.100) under the Securities Exchange 
Act of 1934 (15 U.S.C. 78a et seq. ).
    Rule 17f-1(c) (17 CFR 240.17f-1(c)) under the Securities Exchange 
Act of 1934 (15 U.S.C. 78a et seq. ) 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 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 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 X17F-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) 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: shagufta_
ahmed@omb.eop.gov; and (ii) Charles Boucher, Director/Chief Information 
Officer, Securities and Exchange Commission, c/o Shirley Martinson, 
6432 General Green Way, Alexandria, VA 22312 or send an e-mail to PRA_
Mailbox@sec.gov. Comments must be submitted within 30 days of this 
notice.

     Dated: August 17, 2009.
Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E9-20189 Filed 8-21-09; 8:45 am]

BILLING CODE 8010-01-P
