[Federal Register Volume 68, Number 165 (Tuesday, August 26, 2003)]
[Notices]
[Page 51309]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-21818]


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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-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

    Rule 17Ad-15 requires approximately 900 transfer agents to 
establish written standards for the acceptance or rejection of 
guarantees of securities transfers from eligible guarantor 
institutions. Transfer agents are 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. 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.
    There are approximately 900 registered transfer agents. The staff 
estimates that every transfer agent will spend about 40 hours annually 
to comply with rule 17Ad-15. The total annual burden for all transfer 
agents is 36,000 hours. The average cost per hour is approximately $30. 
Therefore, the total cost of compliance for all transfer agents is 
$1,080,000.
    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 Kenneth A. Fogash, Associate 
Executive Director/Acting CIO, Office of Information Technology, 
Securities and Exchange Commission, 450 5th Street, NW., Washington, DC 
20549.

    Dated: August 19, 2003.
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. 03-21818 Filed 8-25-03; 8:45 am]
BILLING CODE 8010-01-P