[Federal Register Volume 65, Number 176 (Monday, September 11, 2000)]
[Notices]
[Page 54866]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-23216]


=======================================================================
-----------------------------------------------------------------------

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-13, SEC File No. 270-263, OMB Control No. 3235-0275

    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 collections 
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-13, Annual Study and Evaluation of Internal 
Accounting Control Rule 17Ad-13 requires approximately 200 registered 
transfer agents to obtain an annual report on the adequacy of internal 
accounting controls. In addition, transfer agents must maintain copies 
of any reports prepared pursuant to Rule 17Ad-13 plus any documents 
prepared to notify the Commission and appropriate regulatory agencies 
in the event that the transfer agent is required to take any corrective 
action. These recordkeeping requirements assist the Commission and 
other regulatory agencies with monitoring transfer agents and ensuring 
compliance with the rule. Small transfer agents are exempt from Rule 
17Ad-13.
    The staff estimates that the average number of hours necessary for 
each transfer agent to comply with Rule 17Ad-13 is one-hundred seventy-
five hours annually. The total burden is 35,000 hours annually for 
transfer agents, based upon past submissions. The average cost per hour 
is approximately $60. Therefore, the total cost of compliance for 
transfer agents is $1,300,000.
    The retention period for the recordkeeping requirement under Rule 
17Ad-13 is three years following the date of a report prepared pursuant 
to the rule. The recordkeeping requirement under Rule 17Ad-13 is 
mandatory to assist the Commission and other regulatory agencies with 
monitoring transfer agents and ensuring compliance with the rule. This 
rule does not involve the collection of confidential information. 
Please note that 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 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 sixty 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 
20549.

    Dated: August 31, 2000.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 00-23216 Filed 9-8-00; 8:45 am]
BILLING CODE 8010-01-M