[Federal Register Volume 65, Number 216 (Tuesday, November 7, 2000)]
[Notices]
[Pages 66786-66787]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-28502]


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

[[Page 66787]]

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.
    General comments regarding the estimated burden hours 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, D.C. 20503; and (ii) Michael E. Bartell, 
Associate Executive Director, Office of Information Technology, 
Securities and Exchange Commission, 450 Fifth Street, N.W. Washington, 
DC 20549. Comments must be submitted to OMB within thirty days of this 
notice.

    Dated: November 1, 2000.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 00-28502 Filed 11-6-00; 8:45 am]
BILLING CODE 8010-01-M