[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]


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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