
[Federal Register Volume 81, Number 4 (Thursday, January 7, 2016)]
[Notices]
[Page 834]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-33215]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-363, OMB Control No. 3235-0413]


Submission for OMB Review; 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-16.

    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 
existing collection of information provided for in Rule 17Ad-16 (17 CFR 
240.17Ad-16) under the Securities Exchange Act of 1934 (15 U.S.C. 78a 
et seq.).
    Rule 17Ad-16 requires a registered transfer agent to provide 
written notice to the appropriate qualified registered securities 
depository when assuming or terminating transfer agent services on 
behalf of an issuer or when changing its name or address. In addition, 
transfer agents that provide such notice shall maintain such notice for 
a period of at least two years in an easily accessible place. This rule 
addresses the problem of certificate transfer delays caused by transfer 
requests that are directed to the wrong transfer agent or the wrong 
address.
    We estimate that the transfer agent industry submits approximately 
6,970 Rule 17Ad-16 notices to appropriate qualified registered 
securities depositories. The staff estimates that the average amount of 
time necessary to create and submit each notice is approximately 15 
minutes per notice. Accordingly, the estimated total industry burden is 
1,743 hours per year (15 minutes multiplied by 6,970 filed annually).
    Because the information needed by transfer agents to properly 
notify the appropriate registered securities depository is readily 
available to them and the report is simple and straightforward, the 
cost is relatively minimal. The average internal compliance cost to 
prepare and send a notice is approximately $7.50 (15 minutes at $30 per 
hour). This yields an industry-wide internal compliance cost estimate 
of $52,275 (6,970 notices multiplied by $7.50 per notice).
    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.
    The public may view background documentation for this information 
collection 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) Pamela Dyson, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 100 F Street NE., Washington, DC 20549, or by sending an 
email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 
30 days of this notice.

    Dated: December 30, 2015.
Jill M. Peterson,
 Assistant Secretary.
[FR Doc. 2015-33215 Filed 1-6-16; 8:45 am]
BILLING CODE 8011-01-P


