[Federal Register Volume 79, Number 83 (Wednesday, April 30, 2014)]
[Notices]
[Page 24462]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-09810]


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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 17Ac3-1(a); SEC File No. 270-96; OMB Control No. 3235-0151.
    Form TA-W (1669); SEC File No. 270-96; OMB Control No. 3235-
0151.

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (``PRA'') (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 Rule 17Ac3-1(a) and 
Form TA-W, under the Securities Exchange Act of 1934 (15 U.S.C. 78a et 
seq.) (``Exchange Act''). The Commission plans to submit this existing 
collection of information to the Office of Management and Budget 
(``OMB'') for extension and approval.
    Section 17A(c)(4)(B) of the Exchange Act authorizes transfer agents 
registered with an appropriate regulatory agency (``ARA'') to withdraw 
from registration by filing a written notice of withdrawal with the ARA 
and by agreeing to such terms and conditions as the ARA deems necessary 
or appropriate in the public interest, for the protection of investors, 
or in the furtherance of the purposes of Section 17A.
    In order to implement Section 17A(c)(4)(B) of the Exchange Act, the 
Commission promulgated Rule 17Ac3-1(a) (17 CFR 240.17Ac3-1(a)) and 
accompanying Form TA-W (17 CFR 249b.101) on September 1, 1977. Rule 
17Ac3-1(a) provides that notice of withdrawal from registration as a 
transfer agent with the Commission shall be filed on Form TA-W. Form 
TA-W requires the withdrawing transfer agent to provide the Commission 
with certain information, including: (1) The locations where transfer 
agent activities are or were performed; (2) the reasons for ceasing the 
performance of such activities; (3) disclosure of unsatisfied judgments 
or liens; and (4) information regarding successor transfer agents.
    The Commission uses the information disclosed on Form TA-W to 
determine whether the registered transfer agent applying for withdrawal 
from registration as a transfer agent should be allowed to deregister 
and, if so, whether the Commission should attach to the granting of the 
application any terms or conditions necessary or appropriate in the 
public interest, for the protection of investors, or in furtherance of 
the purposes of Section 17A of the Exchange Act. Without Rule 17Ac3-
1(a) and Form TA-W, transfer agents registered with the Commission 
would not have a means to voluntarily deregister when it is necessary 
or appropriate to do so.
    On average, respondents have filed approximately 22 TA-Ws with the 
Commission annually from 2009 to 2013. A Form TA-W filing occurs only 
once, when a transfer agent is seeking to deregister. Approximately 80 
percent of Form TA-Ws are completed by the transfer agent or its 
employees and approximately 20 percent of Form TA-Ws are completed by 
an outside filing agent that is hired by the registrant to prepare the 
form and file it electronically. In view of the readily-available 
information requested by Form TA-W, its short and simple presentation, 
and the Commission's experience with the filers, we estimate that 
approximately 30 minutes is required to complete and file Form TA-W. 
For transfer agents that complete Form TA-W themselves, we estimate the 
internal labor cost of compliance per filing is $25 (0.5 hours x $50 
average hourly rate for clerical staff time). We estimate that outside 
filing agents charge $100 to complete and file at TA-W on behalf of a 
registrant, reflecting an external labor cost to respondents. The total 
annual time burden to the transfer agent industry is approximately 11 
hours (22 filings x 0.5 hours). The total annual external labor cost to 
respondents is $400 (22 annual forms x $100 x 20%).
    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 
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.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information under the PRA unless it 
displays a currently 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, 100 F Street NE., Washington, DC 20549, or send an email 
to: [email protected].

    Dated: April 24, 2014.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-09810 Filed 4-29-14; 8:45 am]
BILLING CODE 8011-01-P