
[Federal Register Volume 78, Number 28 (Monday, February 11, 2013)]
[Notices]
[Page 9749]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-02954]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-149, OMB Control No. 3235-0130]


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-2(c), (d), and (h).

    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-2(c), (d), 
and (h), (17 CFR 240.17Ad-2(c), (d), and (h)), under the Securities 
Exchange Act of 1934 (15 U.S.C. 78a et seq.).
    Rule 17Ad-2(c), (d) and (h) enumerates the requirements with which 
registered transfer agents must comply to inform the Commission or the 
appropriate regulator of a transfer agent's failure to meet the minimum 
performance standards set by the Commission rule by filing a notice.
    While it is estimated there are 477 registered transfer agents, 
approximately 116 of these transfer agents qualify as small entities 
under Exchange Act Rule 0.10, 17 CFR 240.0.10 and are thereby exempted 
from Rule 17Ad-2(c), (d), and (h), leaving approximately 361 transfer 
agents subject to the rule. Each of these transfer agents annually 
files about five notices pursuant to Rule 17Ad-2(c), (d), and (h), for 
an industry-wide total of 1,805 notices per year (361 x 5). The 
estimated annual cost of these filings to respondents is minimal in 
view of: (a) the readily available nature of most of the information 
required to be included in the notice (since that information must be 
compiled and retained pursuant to other Commission rules); and (b) the 
summary fashion in which such information must be presented in the 
notice (most notices are one page or less in length). In light of the 
above, and based on the experience of the staff regarding the notices, 
the Commission staff estimates that, on average, most notices require 
approximately one-half hour to prepare. Thus, the Commission staff 
estimates that each transfer agent subject to the rule spends an 
average of two and a half hours per year complying with the rule for an 
industry-wide total of 902.5 hours per year (361 x 2.5).
    The retention period for the recordkeeping requirement under Rule 
17Ad-2(c), (d), and (h) is not less than two years following the date 
the notice is submitted. The recordkeeping requirement under this rule 
is mandatory to assist the Commission in monitoring transfer agents who 
fail to meet the minimum performance standards set by the Commission 
rule. This rule does not involve the collection of confidential 
information. A transfer agent is not required to file under the rule 
unless it does not meet the minimum performance standards for 
turnaround, processing or forwarding items received for transfer during 
a month.
    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: 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 to OMB within 30 days of 
this notice.

    Dated: February 5, 2013.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-02954 Filed 2-8-13; 8:45 am]
BILLING CODE 8011-01-P


