
[Federal Register: March 18, 2010 (Volume 75, Number 52)]
[Notices]               
[Page 13146]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr18mr10-103]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Proposed Collection; 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-10; SEC File No. 270-265; OMB Control No. 3235-0273.

    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-10, (17 CFR 
240.17Ad-10), under the Securities Exchange Act of 1934 (15 U.S.C. 78a 
et seq.). The Commission plans to submit this existing collection of 
information to the Office of Management and Budget for extension and 
approval.
    Rule 17Ad-10 requires registered transfer agents to create and 
maintain minimum information on securityholders' ownership of an issue 
of securities for which it performs transfer agent functions, including 
the purchase, transfer and redemptions of securities. In addition, the 
rule also requires transfer agents that maintain securityholder records 
to retain a record of all certificate detail that has been deleted from 
those records for a minimum of six years from the date of deletion and 
to maintain and keep current an accurate record of the number of shares 
or principle dollar amount of debt securities that the issuer has 
authorized to be outstanding (a ``control book''). These recordkeeping 
requirements assist in the creation and maintenance of accurate 
securityholder records, the ability to research errors, and ensure the 
transfer agent is aware of the number of securities that are properly 
authorized by the issuer, thereby avoiding over issuance.
    There are approximately 565 registered transfer agents. The staff 
estimates that the average number of hours necessary for each transfer 
agent to comply with Rule 17Ad-10 is approximately 20 hours per year, 
totaling 11,300 hours industry-wide. The average cost per hour is 
approximately $50 per hour, with the industry-wide cost estimated at 
approximately $565,000. However, the information required by Rule 17Ad-
10 generally already is maintained by registered transfer agents. The 
amount of time devoted to compliance with Rule 17Ad-10 varies according 
to differences in business activity.
    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 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.
    Please direct your written comments to: Charles Boucher, Director/
Chief Information Officer, Securities and Exchange Commission, Shirley 
Martinson, 6432 General Green Way, Alexandria, Virginia 22312 or send 
an e-mail to: PRA_Mailbox@sec.gov.

    Dated: March 11, 2010.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-5947 Filed 3-17-10; 8:45 am]
BILLING CODE 8011-01-P

