
[Federal Register: February 25, 2010 (Volume 75, Number 37)]
[Notices]               
[Page 8759]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr25fe10-131]                         

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SECURITIES AND EXCHANGE COMMISSION

[Rule 17Ad-16; SEC File No. 270-363; OMB Control No. 3235-0413]

 
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.

    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 Rule 17Ad-16 (17 CFR 240.17Ad-
16) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) 
(``Exchange Act'').
    Rule 17Ad-16 requires a registered transfer agent to provide 
written notice to the appropriate qualified registered securities 
depository when assuming or terminating transfer agent services on 
behalf of an issuer or when changing its name or address. In addition, 
transfer agents that provide such notice shall maintain such notice for 
a period of at least two years in an easily accessible place. This rule 
addresses the problem of certificate transfer delays caused by transfer 
requests that are directed to the wrong transfer agent or the wrong 
address.
    We estimate that the transfer agent industry submits approximately 
3,000 Rule 17Ad-16 notices to appropriate qualified registered 
securities depositories. The staff estimates that the average amount of 
time necessary to create and submit each notice is approximately 15 
minutes per notice. Accordingly, the estimated total industry burden is 
750 hours per year (15 minutes multiplied by 3,000 notices filed 
annually).
    Because the information needed by transfer agents to properly 
notify the appropriate registered securities depository is readily 
available to them and the report is simple and straightforward, the 
cost is relatively minimal. The average cost to prepare and send a 
notice is approximately $7.50 (15 minutes at $30 per hour). This yields 
an industry-wide cost estimate of $22,500 (3,000 notices multiplied by 
$7.50 per notice).
    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: 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: (i) Shagufta_Ahmed@comb.eop.gov; and (ii) 
Charles Boucher, 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: January 25, 2010.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-3753 Filed 2-24-10; 8:45 am]
BILLING CODE 8011-01-P

