
[Federal Register Volume 77, Number 216 (Wednesday, November 7, 2012)]
[Notices]
[Pages 66886-66887]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-27133]


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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-11 ; SEC File No. 270-261, OMB Control No. 3235-0274.


    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.) (``PRA''), the Securities and Exchange 
Commission (``Commission'') has submitted to the Office of Management 
and Budget (``OMB'') a request for approval of extension of the 
previously approved collection of information provided for in Rule 
17Ad-11 (17 CFR 240.17Ad-11) under the Securities Exchange Act of 1934 
(15 U.S.C. 78a et seq.).
    Rule 17Ad-11 requires all registered transfer agents to report to 
issuers and the appropriate regulatory agency in the event that aged 
record differences exceed certain dollar value thresholds. An aged 
record difference occurs when an issuer's records do not agree with 
those of security holders as indicated, for instance, on certificates 
presented to the transfer agent for purchase, redemption or transfer. 
In addition, the rule requires transfer agents to report to the 
appropriate regulatory agency in the event of a failure to post 
certificate detail to the master security holder file within five 
business days of the time required by Rule 17Ad-10 (17 CFR 240.17Ad-
10). Also, transfer agents must maintain a copy of each report prepared 
under Rule 17Ad-11 for a period of three years following the date of 
the report. This recordkeeping requirement assists the Commission and 
other regulatory agencies with monitoring transfer agents and ensuring 
compliance with the rule.
    Because the information required by Rule 17Ad-11 is already 
available to transfer agents, any collection burden for small transfer 
agents is minimal. Based on a review of the number of Rule 17Ad-11 
reports the Commission, the Comptroller of the Currency, the Board of 
Governors of the Federal Reserve System, and the Federal Deposit 
Insurance Corporation received since 2009, the Commission staff 
estimates that 10 respondents will file a total of approximately 12 
reports annually. The Commission staff estimates that, on average, each 
report can be completed in 30 minutes. Therefore, the total

[[Page 66887]]

annual hourly burden to the entire transfer agent industry is 
approximately six hours (30 minutes multiplied by 12 reports). Assuming 
an average hourly rate of a transfer agent staff employee of $25, the 
average total internal cost of the report is $12.50. The total annual 
internal cost of compliance for the approximate 10 respondents is 
approximately $150.00 (12 reports x $12.50).
    The retention period for the recordkeeping requirement under Rule 
17Ad-11 is three years following the date of a report prepared pursuant 
to the rule. The recordkeeping requirement under Rule 17Ad-11 is 
mandatory 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.
    The Commission may not conduct or sponsor a collection of 
information unless it displays a currently valid OMB 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 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: (i) Shagufta_Ahmed@comb.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 send an email to 
PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days 
of this notice.

    Dated: October 29, 2012.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-27133 Filed 11-6-12; 8:45 am]
BILLING CODE 8011-01-P


