
[Federal Register: May 21, 2010 (Volume 75, Number 98)]
[Notices]               
[Page 28665]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr21my10-141]                         

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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-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'') has submitted to the Office of Management 
and Budget a request for approval of extension of the previously 
approved 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.).
    Rule 17Ad-10 requires a registered transfer agent 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 keep certificate detail that has been deleted from those records for 
a minimum of six years and to maintain and keep current an accurate 
record of the number of shares or principal 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 overissuance.
    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.
    The retention period for the recordkeeping requirements under Rule 
17Ad-10 is six years for certificate detail that has been deleted and 
to maintain and keep current an accurate record of the number of shares 
or principal dollar amount of debt securities that the issuer has 
authorized to be outstanding. The recordkeeping requirement under Rule 
17Ad-10 is mandatory to ensure accurate securityholder records and to 
assist the Commission and other regulatory agencies with monitoring 
transfer agents and ensuring compliance with the rule. This rule does 
not involve the collection of confidential information. Persons should 
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, Shirley Martinson, 6432 
General Green Way, Alexandria, VA 22312 or send an e-mail to: PRA_
Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of 
this notice.

    Dated: May 17, 2010.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-12261 Filed 5-20-10; 8:45 am]
BILLING CODE 8011-01-P

