
[Federal Register: November 6, 2009 (Volume 74, Number 214)]
[Notices]               
[Page 57539-57540]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr06no09-102]                         

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SECURITIES AND EXCHANGE COMMISSION

[Rule 17Ad-11; SEC File No. 270-261; OMB Control No. 3235-0274]

 
Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549-0213.

    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 existing 
collection of information provided for in Rule 17Ad-11 (17 CFR 
240.17Ad-11) under the Securities Exchange Act of 1934 (15 U.S.C. 78a 
et seq.) (``Exchange Act''). The Commission plans to submit this 
existing collection of information to the Office of Management and 
Budget for extension and approval.
    Rule 17Ad-11 requires all registered transfer agents to report to 
issuers and the appropriate regulatory agency in the event that aged 
record differences exceed certain dollar value thresholds. An aged 
record difference occurs when an issuer's records do not agree with 
those of securityowners as indicated, for instance, on certificates 
presented to the transfer agent for purchase, redemption or transfer. 
In addition, the rule requires transfer agents to report to the 
appropriate regulatory agency in the event of a failure to post 
certificate detail to the master securityholder file within 5 business 
days of the time required by Rule 17Ad-10 (17 CFR 240.10). Also, 
transfer agents must maintain a copy of each report prepared under Rule 
17Ad-11 for a period of three years following the date of the report. 
These recordkeeping requirements assist the Commission and other 
regulatory agencies with monitoring transfer agents and ensuring 
compliance with the rule.
    Because the information required by Rule 17Ad-11 is already 
available to transfer agents, any collection burden for small transfer 
agents is minimal. Based on a review of the number of Rule 17Ad-11 
reports the Commission, the Comptroller of the Currency, the Board of 
Governors of the Federal Reserve System, and the Federal Deposit 
Insurance Corporation received since 2006, the Commission estimates 
that 25 respondents will file a total of approximately 30 reports 
annually. The Commission estimates that each report can be completed in 
30 minutes. Therefore, the total annual hourly burden to the entire 
transfer agent industry is approximately 15 hours (30 minutes 
multiplied by 30 reports). Assuming an average hourly rate of a 
transfer agent staff employee of $25, the average total cost of the 
report is $12.50. The total cost for the approximate 25 respondents is 
approximately $750.
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information 
shall have practical utility; (b) the accuracy of the Commission's 
estimates of the burden of the proposed collection of information; (c) 
ways to enhance the quality, utility, and clarity

[[Page 57540]]

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.
    Comments should be directed to 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.

    Dated: October 23, 2009.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-26751 Filed 11-5-09; 8:45 am]

BILLING CODE 8011-01-P
