[Federal Register Volume 77, Number 167 (Tuesday, August 28, 2012)]
[Notices]
[Page 52075]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-21112]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

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

Extension:
    Rule 17Ad-11; SEC File No. 270-261; OMB Control No. 3235-0274.

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (44 U.S.C. 3501 et seq.) (``PRA''), the Securities and 
Exchange Commission (``Commission'') is soliciting comments on the 
existing collection of information provided for in Rule 17Ad-11 (17 CFR 
240.17Ad-11) 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 (``OMB'') for 
extension and approval.
    Rule 17Ad-11 requires all registered transfer agents to report to 
issuers and the appropriate regulatory agency in the event that aged 
record differences exceed certain dollar value thresholds. An aged 
record difference occurs when an issuer's records do not agree with 
those of security holders as indicated, for instance, on certificates 
presented to the transfer agent for purchase, redemption or transfer. 
In addition, the rule requires transfer agents to report to the 
appropriate regulatory agency in the event of a failure to post 
certificate detail to the master security holder file within five 
business days of the time required by Rule 17Ad-10 (17 CFR 240.10). 
Also, transfer agents must maintain a copy of each report prepared 
under Rule 17Ad-11 for a period of three years following the date of 
the report. These recordkeeping requirements assist the Commission and 
other regulatory agencies with monitoring transfer agents and ensuring 
compliance with the rule.
    Because the information required by Rule 17Ad-11 is already 
available to transfer agents, any collection burden for small transfer 
agents is minimal. Based on a review of the number of Rule 17Ad-11 
reports the Commission, the Comptroller of the Currency, the Board of 
Governors of the Federal Reserve System, and the Federal Deposit 
Insurance Corporation received since 2009, the Commission estimates 
that 10 respondents will file a total of approximately 12 reports 
annually. The Commission staff estimates that, on the average, each 
report requires approximately one-half hour to prepare. Therefore, the 
Commission staff estimates that the total annual hourly burden to the 
entire transfer agent industry is approximately six hours (30 minutes 
multiplied by 12 reports). Assuming an average hourly rate of a 
transfer agent staff employee of $25, the average total internal cost 
of the report is $12.50. The total annual internal cost of compliance 
for the approximate 10 respondents is approximately $150.00 (12 reports 
x $12.50).
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information 
shall have practical utility; (b) the accuracy of the Commission'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.
    The Commission may not conduct or sponsor a collection of 
information unless it displays a currently valid OMB control number. No 
person shall be subject to any penalty for failing to comply with a 
collection of information subject to the PRA that does not display a 
valid OMB control number.
    Please direct your written comments to: Thomas Bayer, Director/
Chief Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 6432 General Green Way, Alexandria, VA 22312 or send an 
email to: [email protected].

    Dated: August 22, 2012.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-21112 Filed 8-27-12; 8:45 am]
BILLING CODE 8011-01-P