[Federal Register Volume 83, Number 228 (Tuesday, November 27, 2018)]
[Notices]
[Page 60921]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-25720]



[[Page 60921]]

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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 FOIA Services, 100 F Street NE, Washington, DC 
20549-2736.

Extension:
    Rule 17Ad-15, SEC File No. 270-360, OMB Control No. 3235-0409

    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'') 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-15 (17 CFR 240.17Ad-15) under the Securities Exchange Act of 1934 
(15 U.S.C. 78a et seq.).
    Rule 17Ad-15 (17 CFR 240.17Ad-15) under the Securities Exchange Act 
of 1934 (15 U.S.C. 78a et seq.) (the ``Act'') requires the 
approximately 373 transfer agents to establish written standards for 
the acceptance or rejection of guarantees of securities transfers from 
eligible guarantor institutions. Transfer agents are required to 
establish procedures to ensure that those standards are used by the 
transfer agent to determine whether to accept or reject guarantees from 
eligible guarantor institutions. Transfer agents must maintain, for a 
period of three years following the date of a rejection of transfer, a 
record of all transfers rejected, along with the reason for the 
rejection, identification of the guarantor, and whether the guarantor 
failed to meet the transfer agent's guarantee standard. These 
recordkeeping requirements assist the Commission and other regulatory 
agencies with monitoring transfer agents and ensuring compliance with 
the rule.
    There are approximately 373 registered transfer agents. The staff 
estimates that each transfer agent will spend about 40 hours annually 
to comply with Rule 17Ad-15, or a total of 14,920 hours for all 
transfer agents (373 x 40 hours = 14,920 hours). The Commission staff 
estimates that compliance staff work at each registered transfer agent 
will result in an internal cost of compliance (at an estimated hourly 
wage of $283) of $11,320 per year per transfer agent (40 hours x $283 
per hour = $ 11,320 per year). Therefore, the aggregate annual internal 
cost of compliance for the approximately 373 registered transfer agents 
is approximately $4,222,360 ($11,320 x 373 = $4,222,360).
    This rule does not involve the collection of confidential 
information.
    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 website: 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: 
[email protected]; and (ii) Charles Riddle, Acting Director/
Chief Information Officer, Securities and Exchange Commission, c/o 
Candace Kenner, 100 F Street NE, Washington, DC 20549, or by sending an 
email to: [email protected]. Comments must be submitted to OMB within 
30 days of this notice.

    Dated: November 20, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-25720 Filed 11-26-18; 8:45 am]
BILLING CODE 8011-01-P


