[Federal Register Volume 63, Number 5 (Thursday, January 8, 1998)]
[Notices]
[Page 1130]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-419]


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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 Filings and Information Services, Washington, DC 
20549

Extension:
    Rule 17Ad-16, SEC File No. 270-363, OMB Control No. 3235-0413

    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'') has submitted to the Office of Management and Budget 
request for extension of the previously approved collection of 
information discussed below.

Rule 17Ad-16  Notice of Assumption or Termination of Transfer Agent 
Services

    Rule 17Ad-16 under the Securities Exchange Act of 1934, requires a 
registered transfer agent to provide written notice to a qualified 
registered securities depository when assuming or terminating transfer 
agent services on behalf of an issuer or when changing its name or 
address. These recordkeeping requirements address the problem of 
certificate transfer delays caused by transfer requests that are 
directed to the wrong transfer agent or the wrong address.
    Approximately 450 transfer agents submit Rule 17Ad-16 notices, the 
staff estimates that the average number of hours necessary for each 
transfer agent to comply with Rule 17Ad-16 is approximately 15 minutes 
per notice or 3.5 hours per year, totalling 1,575 hours industry-wide. 
The average cost per hour is approximately $30 per hour, with the 
industry-wide cost estimated at approximately $47,250. However, the 
information required by Rule 17Ad-16 generally is maintained by 
registered transfer agents. The amount of time devoted to compliance 
with Rule 17Ad-16 varies according to differences in business activity.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless it displays a 
currently valid control number.
    Written comments regarding the above information should be directed 
to the following persons: (i) Desk Officer for the Securities and 
Exchange Commission, Office of Information and Regulatory Affairs, 
Office of Management and Budget, Room 3208, New Executive Office 
Building, Washington, DC 20503; and (ii) Michael E. Bartell, Associate 
Executive Director, Office of Information Technology, Securities and 
Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549. 
Comments must be submitted to OMB within 30 days of this notice.

    Dated: December 29, 1997.
Jonathan G. Katz,
Secretary.
[FR Doc. 98-419 Filed 1-7-98; 8:45 am]
BILLING CODE 8010-01-M