[Federal Register Volume 74, Number 162 (Monday, August 24, 2009)]
[Notices]
[Page 42707]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-20188]



[[Page 42707]]

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SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

Upon Written Request, Copies Available From: U.S. Securities and 
Exchange Commission, Office of Investor Education and Advocacy, 
Washington, DC 20549-0213.

Extension:
    Rule 17Ad-15, OMB Control No. 3235-0409, SEC File No. 270-360.

    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 existing collection of 
information provided for in the following rule: Rule 17a-10 (17 CFR 
240.17Ad-15) under the Securities Exchange Act of 1934 (15 U.S.C. 78a 
et seq.). The Commission plans to submit this existing collection of 
information to the Office of Management and Budget for extension and 
approval.
    Rule 17Ad-15 requires approximately 587 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 587 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 23,480 hours (587 times 40). The average cost per hour is 
approximately $50. Therefore, the total cost of compliance for all 
transfer agents is $1,174,000 (23,480 times $50).
    Comments should be directed to: (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) Charles Boucher, Director/Chief Information 
Officer, Securities and Exchange Commission, c/o Shirley Martinson, 
6432 General Green Way, Alexandria, VA 22312 or send an e-mail to [email protected]. Comments must be submitted within 30 days of this 
notice.

    Dated: August 17, 2009.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-20188 Filed 8-21-09; 8:45 am]
BILLING CODE 8010-01-P