[Federal Register Volume 70, Number 104 (Wednesday, June 1, 2005)]
[Notices]
[Page 31550]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E5-2756]


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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-17; SEC File No. 270-412; OMB Control No. 3235-0469.

    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-17 Transfer Agents' Obligation to Search for 
Lost Securityholders
    Rule 17Ad-17 requires approximately 825 registered transfer agents 
to conduct searches using third party database vendors to attempt to 
locate lost securityholders. These recordkeeping requirements assist 
the Commission and other regulatory agencies with monitoring transfer 
agents and ensuring compliance with the rule.
    The staff estimates that the average number of hours necessary for 
each transfer agent to comply with Rule 17Ad-17 is five hours annually. 
The total burden is 4,125 hours annually for all transfer agents. The 
cost of compliance for each individual transfer agent depends on the 
number of lost accounts at each transfer agent. Based on information 
received from transfer agents, we estimate that the annual cost 
industry wide is $3.3 million.
    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 R. Corey Booth, Chief 
Information Officer, Securities and Exchange Commission, 450 5th 
Street, NW., Washington, DC 20549.

    Dated: May 13, 2005.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5-2756 Filed 5-31-05; 8:45 am]
BILLING CODE 8010-01-P