[Federal Register Volume 64, Number 90 (Tuesday, May 11, 1999)]
[Page 25386]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-11812]



Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Filings and Information Services, Washington, DC 

    Rule 17Ac3-1(a) and Form TA-W, SEC File No. 270-96, OMB Control 
No. 3235-0151

    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.
    Subsection (c)(3)(C) of Section 17A of the Securities Exchange Act 
of 1934 (``Exchange Act'') authorizes transfer agents registered with 
an appropriate regulatory agency (``ARA'') to withdraw from 
registration by filing with the ARA a written notice of withdrawal and 
by agreeing to such terms and conditions are 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)(3)(C) of the Exchange Act the 
Commission, on September 1, 1977, promulgated Rule 17Ac3-1(a) and 
accompanying Form TA-W. 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 for voluntary deregistration when necessary or 
appropriate to do so.
    Respondents file approximately thirty Form TA-Ws with the 
Commission annually. The filing of a Form TA-W occurs only once, when a 
transfer agent is seeking deregistration. In view of the ready 
availability of the information requested by Form TA-W, its short and 
simple presentation, and the Commission's experience with the Form, we 
estimate that approximately one half hour is required to complete Form 
TA-W, including clerical time. Thus, the total burden of fifteen hours 
of preparation for all transfer agents seeking deregistration in any 
one year is negligible.
    The Commission estimates a cost of approximately $35 for each half 
hour required to complete a Form TA-W. Therefore, based upon a total of 
fifteen hours, transfer agents spend approximately $1,050 each year to 
complete thirty Form TA-Ws.
    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 will 
have practical utility; (b) the accuracy of the agency's estimate of 
the burden of the 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.
    Please direct your written comments to Michael E. Bartell, 
Associate Executive Director, Office of Information Technology, 
Securities and Exchange Commission, 450 5th Street, NW, Washington, DC 

    Dated: April 29, 1999.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 99-11812 Filed 5-10-99; 8:45 am]