[Federal Register Volume 79, Number 129 (Monday, July 7, 2014)]
[Notices]
[Page 38336]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-15723]


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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 17Ad-3(b); SEC File No. 270-424, OMB Control No. 3235-0473.

    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 
17Ad-3(b) (17 CFR 240.17Ad-3(b)), under the Securities Exchange Act of 
1934 (15 U.S.C. 78a et seq.).
    Rule 17Ad-3(b) requires registered transfer agents to send a copy 
of the written notice required under Rule 17Ad-2(c), (d), and (h) to 
the chief executive officer of each issuer for which the transfer agent 
acts when it has failed to turnaround at least 75% of all routine items 
in accordance with the requirements of Rule 17Ad-2(a), or to process at 
least 75% of all items in accordance with the requirements of Rule 
17Ad-2(b), for two consecutive months. The issuer may use the 
information contained in the notices to: (1) Provide an early warning 
to the issuer of the transfer agent's non-compliance with the 
Commission's minimum performance standards regarding registered 
transfer agents; and (2) assure that the issuer is aware of problems 
and poor performance with respect to the transfer agents that are 
servicing the issuer's securities. If the issuer does not receive 
notice of a registered transfer agent's failure to comply with the 
Commission's minimum performance standards then the issuer will be 
unable to take remedial action to correct the problem or to find 
another registered transfer agent. Pursuant to Rule 17Ad-3(b), a 
transfer agent that has already filed a Notice of Non-Compliance with 
the Commission pursuant to Rule 17Ad-2 will only be required to send a 
copy of that notice to issuers for which it acts when that transfer 
agent fails to turnaround 75% of all routine items or to process 75% of 
all items.
    The Commission estimates that only two transfer agents will meet 
the requirements of Rule 17Ad-3(b). If a transfer agent fails to meet 
those requirements under 17Ad-3(b), it would simply send a copy of the 
notice that had already been produced for the Commission. The 
Commission estimates the requirement will take each respondent 
approximately one hour to complete, for a total annual estimate burden 
of two hours at an internal labor costs cost of approximately $60.00 an 
hour. There are no external labor costs associated with sending the 
notice to issuers.
    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. 2014-15723 Filed 7-3-14; 8:45 am]
BILLING CODE 8011-01-P