[Federal Register Volume 86, Number 214 (Tuesday, November 9, 2021)]
[Notices]
[Page 62232]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-24426]



[[Page 62232]]

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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-264, OMB Control No. 3235-0341]


Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 
20549-2736

Extension:
    Rule 17Ad-4(b) & (c)

    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 17Ad-4(b) & (c) 
under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) 
(``Exchange Act''). The Commission plans to submit this existing 
collection of information to the Office of Management and Budget 
(``OMB'') for extension and approval.
    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. Pursuant to Rule 17Ad-4(b), if the 
Commission or the Office of the Comptroller of the Currency (``OCC'') 
is the appropriate regulatory authority (``ARA'') for an exempt 
transfer agent, that transfer agent is required to prepare and maintain 
in its possession a notice certifying that it is exempt from certain 
performance standards and recordkeeping and record retention provisions 
of the Commission's transfer agent rules. This notice need not be filed 
with the Commission or OCC. If the Board of Governors of the Federal 
Reserve System (``Fed'') or the Federal Deposit Insurance Corporation 
(``FDIC'') is the transfer agent's ARA, that transfer agent must 
prepare a notice and file it with the Fed or FDIC.
    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 
ARA apprised of its current status, must prepare, and file if the ARA 
for the transfer agent is the Fed or the 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.
    ARAs use the information contained in the notices required by Rules 
17Ad-4(b) and 17Ad-4(c) 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 Commission estimates that approximately 10 registered transfer 
agents each year prepare or file notices in compliance with Rules 17Ad-
4(b) and 17Ad-4(c). The Commission estimates that each such registered 
transfer agent spends approximately 1.5 hours to prepare or file such 
notices for an aggregate total annual burden of 15 hours (1.5 hours 
times 10 transfer agents).
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information 
shall have practical utility; (b) the accuracy of the Commission's 
estimates of the burden of the proposed collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information on 
respondents; and (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology. 
Consideration will be given to comments and suggestions submitted in 
writing within 60 days of this publication.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information under the PRA unless it 
displays a currently valid OMB control number.
    Please direct your written comments to: David Bottom, Director/
Chief Information Officer, Securities and Exchange Commission, c/o John 
R. Pezzullo, 100 F Street NE, Washington, DC 20549, or send an email 
to: [email protected].

    Dated: November 3, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-24426 Filed 11-8-21; 8:45 am]
BILLING CODE 8011-01-P


