[Federal Register Volume 62, Number 117 (Wednesday, June 18, 1997)] [Notices] [Page 33144] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 97-15935] ======================================================================= ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549. 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 (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission (``Commission'') is soliciting comments on the collection of information summarized below. The Commission plans to submit this existing collection of information to the Office of Management and Budget for extension and approval. Rule 17Ad-15, Signature Guarantees, requires transfer agents to establish written standards for the acceptance or rejection of guarantees of securities transfers from eligible guarantor institutions. Transfer agents are also 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. Also 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. It is estimated that there are 1,431 registered transfer agents. Of the 1,431 registered transfer agents, approximately 795 will receive fewer than 100 items for transfer. It is expected that most small transfer agents will have few, if any, rejections. The estimated number of hours for each transfer agent to comply with the Rule 17Ad-15 is forty hours annually. The total annual burden is 31,800 hours for transfer agents, based upon past submissions. The average cost per hour is approximately $30. Therefore, the total cost of compliance for transfer agents is $954,000. Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the agency's estimates of the burden of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be 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. Please direct your written comments to Michael E. Bartell, Associate Executive Director, Office of Information Technology, Securities and Exchange Commission, 450 5th Street, N.W., Washington, DC 20549. Dated: June 11, 1997. Margaret H. McFarland, Deputy Secretary. [FR Doc. 97-15935 Filed 6-17-97; 8:45 am] BILLING CODE 8010-01-M