[Federal Register Volume 85, Number 174 (Tuesday, September 8, 2020)]
[Notices]
[Page 55544]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-19721]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-96, OMB Control No. 3235-0151]


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 17Ac3-1(a) and Form TA-W

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (``PRA'') (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 Rule 17Ac3-1(a) (17 
CFR 240.17Ac3-1(a)) and Form TA-W (17 CFR 249b.101), 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.
    Section 17A(c)(4)(B) of the Exchange Act authorizes transfer agents 
registered with an appropriate regulatory agency (``ARA'') to withdraw 
from registration by filing a written notice of withdrawal with the ARA 
and by agreeing to such terms and conditions as the ARA deems necessary 
or appropriate in the public interest, for the protection of investors, 
or in the furtherance of the purposes of Section 17A.
    In order to implement Section 17A(c)(4)(B) of the Exchange Act, the 
Commission promulgated Rule 17Ac3-1(a) and accompanying Form TA-W on 
September 1, 1977. Rule 17Ac3-1(a) provides that notice of withdrawal 
from registration as a transfer agent with the Commission shall be 
filed on Form TA-W. Form TA-W requires the withdrawing transfer agent 
to provide the Commission with certain information, including: (1) The 
locations where transfer agent activities are or were performed; (2) 
the reasons for ceasing the performance of such activities; (3) 
disclosure of unsatisfied judgments or liens; and (4) information 
regarding successor transfer agents.
    The Commission uses the information disclosed on Form TA-W to 
determine whether the registered transfer agent applying for withdrawal 
from registration as a transfer agent should be allowed to deregister 
and, if so, whether the Commission should attach to the granting of the 
application any terms or conditions necessary or appropriate in the 
public interest, for the protection of investors, or in furtherance of 
the purposes of Section 17A of the Exchange Act. Without Rule 17Ac3-
1(a) and Form TA-W, transfer agents registered with the Commission 
would not have a means to voluntarily deregister when it is necessary 
or appropriate to do so.
    On average, respondents have filed approximately 58 TA-Ws with the 
Commission annually from 2017 to 2020. A Form TA-W filing occurs only 
once, when a transfer agent is seeking to deregister. In view of the 
readily-available information requested by Form TA-W, its short and 
simple presentation, and the Commission's experience with the filers, 
we estimate that approximately 30 minutes is required to complete and 
file Form TA-W. Thus, the total annual time burden to the transfer 
agent industry is approximately 29 hours (58 filings x 0.5 hours). We 
estimate that the internal labor cost of compliance per filing is 
approximately $35.5 (0.5 hours x $71 average hourly rate for clerical 
staff time). The total internal compliance cost per year is thus 
approximately $1,030 (29 x $35.5 = $1029.5 rounded up to $1,030).
    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 
collected; 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 
Cynthia Roscoe, 100 F Street NE, Washington, DC 20549, or send an email 
to: PRA_Mailbox@sec.gov.

    Dated: September 1, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-19721 Filed 9-4-20; 8:45 am]
BILLING CODE 8011-01-P


