[Federal Register Volume 79, Number 129 (Monday, July 7, 2014)]
[Notices]
[Page 38337]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-15722]


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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 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'') has submitted to the Office of 
Management and Budget (``OMB'') a request for approval of extension of 
the previously approved collection of information provided for in Rule 
17Ac3-1(a) (17 CFR 240.17Ac3-1(a)) and Form TA-W (17 CFR 249b.101), 
under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.).
    Section 17A(c)(4)(B) of the Securities Exchange Act of 1934 
authorizes transfer agents registered with an appropriate regulatory 
agency (``ARA'') to withdraw from registration by filing with the ARA a 
written notice of withdrawal 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) and accompanying Form TA-W on 
September 1, 1977. Rule 17Ac3-1(a) provides that notice of withdrawal 
of 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 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 deregistration. 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%).
    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.
    The public may view background documentation for this information 
collection at the following Web site: www.reginfo.gov. 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 email to: [email protected]; and (ii) Thomas Bayer, Director/Chief Information 
Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon, 100 
F Street NE., Washington, DC 20549, or by sending an email to: [email protected]. Comments must be submitted to OMB within 30 days of 
this notice.

    Dated: June 30, 2014.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2014-15722 Filed 7-3-14; 8:45 am]
BILLING CODE 8011-01-P