[Federal Register Volume 70, Number 149 (Thursday, August 4, 2005)]
[Notices]
[Page 44955]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E5-4140]


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

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. 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 
approximately 4,125 annually for all transfer agents. The cost of 
compliance for each individual transfer agent depends on the number 
of lost accounts for which it is responsible. Based on information 
received from transfer agents, we estimate that the annual cost 
industry wide is $3.3 million.
    The retention period for the recordkeeping requirement under 
Rule 17Ad-17 is three years. The recordkeeping requirement under 
Rule 17Ad-17 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 10102, New 
Executive Office Building, Washington, DC 20503 or by sending an e-
mail to: [email protected]; and (ii) R. Corey Booth, Chief 
Information Officer, Office of Information Technology, Securities 
and Exchange Commission, 100 F Street, NE., Washington, DC 20549. 
Comments must be submitted to OMB within 30 days of this notice.

    Dated: July 27, 2005.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5-4140 Filed 8-3-05; 8:45 am]
BILLING CODE 8010-01-P