
[Federal Register Volume 77, Number 172 (Wednesday, September 5, 2012)]
[Notices]
[Pages 54619-54620]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-21770]


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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-4(b) & (c), OMB Control No. 3235-0341, SEC File No. 
270-264.

    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 extension of the previously approved 
collection of information provided for in Rule 17Ad-4(b) and (c) (17 
CFR 240.17Ad-4(b) and (c)) of the Securities Exchange Act of 1934 (17 
U.S.C. 78a et seq.).
    Rule 17Ad-4(b) & (c) (17 CFR 240.17Ad-4) is used to document when 
transfer agents are exempt, or no longer exempt, from the minimum 
performance standards and certain recordkeeping provisions of the 
Commission's transfer agent rules. Rule 17Ad-4(c) sets forth the 
conditions under which a registered transfer agent loses its exempt 
status. Once the conditions for exemption no longer exist, the transfer 
agent, to keep the appropriate regulatory authority (``ARA'') apprised 
of its current status, must prepare, and file if the ARA for the 
transfer agent is the Board of Governors of the Federal Reserve System 
(``BGFRS'') or the Federal Deposit Insurance Corporation (``FDIC''), a 
notice of loss of exempt status under paragraph (c). The transfer agent 
then cannot claim exempt status under Rule 17Ad-4(b) again until it 
remains subject to the minimum performance standards for non-exempt 
transfer agents for six consecutive months. The ARAs use the 
information contained in the notice to determine whether a registered 
transfer agent qualifies for the exemption, to determine when a 
registered transfer agent no longer qualifies for the exemption, and to 
determine the extent to which that transfer agent is subject to 
regulation.
    The BGFRS receives approximately two notices of exempt status and 
two notices of loss of exempt status annually. The FDIC also receives 
approximately two notices of exempt status and two notices of loss of 
exempt status annually. The Commission and the Office of the 
Comptroller of the Currency (``OCC'') do not require transfer agents to 
file a notice of exempt status or loss of exempt status. Instead, 
transfer agents whose ARA is the Commission or OCC need only to prepare 
and maintain these notices. The Commission estimates that approximately 
ten notices of exempt status and ten notices of loss of exempt status 
are prepared annually by transfer agents whose ARA is the Commission. 
We estimate that the transfer agents for whom the OCC is their ARA 
prepare and maintain approximately five notices of exempt status and 
five notices of loss of exempt status annually. Thus, a total of 
approximately thirty-eight notices of exempt status and loss of exempt 
status are prepared and maintained by transfer agents annually. Of 
these thirty-eight

[[Page 54620]]

notices, approximately eight are filed with an ARA. Any additional 
costs associated with filing such notices would be limited primarily to 
postage, which would be minimal. Since the Commission estimates that no 
more than one-half hour is required to prepare each notice, the total 
annual burden to transfer agents is approximately nineteen hours.
    The Commission may not conduct or sponsor 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 (OMB) control number.
    Background documentation for this information collection may be 
viewed at the following Web site, www.reginfo.gov. 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 email 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, VA 22312 or send an email to PRA_Mailbox@sec.gov. Comments must be submitted within 30 days of this 
notice.

    Dated: August 29, 2012.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-21770 Filed 9-4-12; 8:45 am]
BILLING CODE 8011-01-P


