[Federal Register Volume 68, Number 215 (Thursday, November 6, 2003)]
[Notices]
[Page 62839]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-27978]


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

Rule 17Ad-15 Signature Guarantees

    Rule 17Ad-15 requires approximately 1,093 transfer agents to 
establish written standards for accepting and rejecting guarantees of 
securities transfers from eligible guarantor institutions. Transfer 
agents are also 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 average 
number of hours necessary for every transfer agent to comply with the 
Rule 17Ad-15 is about forty hours annually. The total burden is 36,000 
hours for all transfer agents. The average cost per hour is 
approximately $30. Therefore, the total cost of compliance for all 
transfer agents is about $1,080,000.
    The retention period for the recordkeeping requirement under Rule 
17Ad-15 is three years following the date of a rejection of transfer. 
The recordkeeping requirement under the rule 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. 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 10102, New Executive Office 
Building, Washington, D.C. 20503; and (ii) Kenneth A. Fogash, Associate 
Executive Director/Acting CIO, 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: October 29, 2003.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 03-27978 Filed 11-5-03; 8:45 am]
BILLING CODE 8010-01-P