
[Federal Register Volume 77, Number 175 (Monday, September 10, 2012)]
[Notices]
[Page 55512]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-22143]


=======================================================================
-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

Upon Written Request Copies Available From: U.S. Securities and 
Exchange Commission, Office of Investor Education and Advocacy, 
Washington, DC 20549-0213.

Extension:
    Rule 17Ad-15, OMB Control No. 3235-0409, SEC File No. 270-360.

    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 the following rule: Rule 17a-10 (17 CFR 
240.17Ad-15) under the Securities Exchange Act of 1934 (15 U.S.C. 78a 
et seq.).
    Rule 17Ad-15 requires approximately 477 transfer agents to 
establish written standards for accepting and rejecting guarantees of 
securities transfers from eligible guarantor institutions. Transfer 
agents are also required to establish procedures to ensure that those 
standards are used by the transfer agent to determine whether to accept 
or reject guarantees from eligible guarantor institutions. Transfer 
agents must maintain, for a period of three years following the date of 
a rejection of transfer, a record of all transfers rejected, along with 
the reason for the rejection, identification of the guarantor, and 
whether the guarantor failed to meet the transfer agent's guarantee 
standard. These recordkeeping requirements assist the Commission and 
other regulatory agencies with monitoring transfer agents and ensuring 
compliance with the rule.
    There are approximately 477 registered transfer agents. The staff 
estimates that every transfer agent will spend about 40 hours annually 
to comply with Rule 17Ad-15. The total annual burden for all transfer 
agents is 23,480 hours (477 times 40). The average cost per hour is 
approximately $50. Therefore, the total cost of compliance for all 
transfer agents is $1,174,000 (23,480 times $50).
    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 and Budget (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: September 4, 2012.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-22143 Filed 9-7-12; 8:45 am]
BILLING CODE 8011-01-P


