
[Federal Register Volume 76, Number 126 (Thursday, June 30, 2011)]
[Notices]
[Page 38431]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-16427]


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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.

Extension:
    Rule 17Ad-3(b); SEC File No. 270-424; OMB Control No. 3235-0473.

    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 following 
previously approved collection of information as discussed below for 
Rule 17Ad-3(b) (17 CFR 240.17Ad-3(b)).
    Rule 17Ad-3(b) requires registered transfer agents that for each of 
two consecutive months have failed to turnaround at least 75% of all 
routine items in accordance with the requirements of Rule 17Ad-2(a) or 
to process at least 75% of all routine items in accordance with the 
requirements of Rule 17Ad-2(a) to send to the chief executive officer 
of each issuer for which such registered transfer agent acts a copy of 
the written notice required under Rule 17Ad-2(c), (d), and (h). The 
issuer may use the information contained in the notices in several 
ways: (1) To provide an early warning to the issuer of the transfer 
agent's non-compliance with the Commission's minimum performance 
standards regarding registered transfer agents, and (2) to assure that 
issuers are aware of certain problems and poor performances with 
respect to the transfer agents that are servicing the issuer's 
securities. If the issuer does not receive notice of a registered 
transfer agent's failure to comply with the Commission's minimum 
performance standards then the issuer will be unable to take remedial 
action to correct the problem or to find another registered transfer 
agent. Pursuant to Rule 17Ad-3(b), a transfer agent that has already 
filed a Notice of Non-Compliance with the Commission pursuant to Rule 
17Ad-2 will only be required to send a copy of that notice to issuers 
when that transfer agent fails to turnaround 75% of all routine items 
or to process 75% of all items.
    The Commission estimates that only two transfer agents will meet 
the requirements of Rule 17Ad-3(b). If a transfer agent fails to meet 
the minimum requirements under 17Ad-3(b), such transfer agent is simply 
sending a copy of a form that had already been produced for the 
Commission. The Commission estimates a requirement will take each 
respondent approximately one hour to complete, for a total annual 
estimate burden of two hours at cost of approximately $60.00 for each 
hour, which reflect internal labor costs. There are no external costs 
associated with sending the notice to issuers.
    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. No person shall be subject 
to any penalty for failing to comply with a collection of information 
subject to the PRA that does not display a valid Office of Management 
and Budget (OMB) control number.
    Background documentation for this information collection may be 
viewed at the following link, http://www.reginfo.gov. General comments 
regarding the estimated burden hours 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) Thomas 
Bayer, Director/Chief Information Officer, Securities and Exchange 
Commission, c/o Remi Pavlik-Simon, 6432 General Green Way, Alexandria, 
Virginia 22312; or by sending an e-mail to: PRA_Mailbox@sec.gov . 
Comments must be submitted to OMB within 30 days of this notice.

    Dated: June 26, 2011.
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-16427 Filed 6-29-11; 8:45 am]
BILLING CODE 8011-01-P


