[Federal Register Volume 83, Number 206 (Wednesday, October 24, 2018)]
[Notices]
[Page 53686]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-23203]
[[Page 53686]]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Proposed Collection; Comment Request
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC
20549-2736
Extension:
Rule 17Ad-4(b) & (c), SEC File No. 270-264, OMB Control No.
3235-0341.
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 17Ad-4(b) & (c)
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.
Rule 17Ad-4(b) & (c) (17 CFR 240.17Ad-4) is used to document when
transfer agents are exempt, or no longer exempt, from the minimum
performance standards and certain recordkeeping provisions of the
Commission's transfer agent rules. Pursuant to Rule 17Ad-4(b), if the
Commission or the Office of the Comptroller of the Currency (``OCC'')
is the appropriate regulatory authority (``ARA'') for an exempt
transfer agent, that transfer agent is required to prepare and maintain
in its possession a notice certifying that it is exempt from certain
performance standards and recordkeeping and record retention provisions
of the Commission's transfer agent rules. This notice need not be filed
with the Commission or OCC. If the Board of Governors of the Federal
Reserve System (``Fed'') or the Federal Deposit Insurance Corporation
(``FDIC'') is the transfer agent's ARA, that transfer agent must
prepare a notice and file it with the Fed or FDIC.
Rule 17Ad-4(c) sets forth the conditions under which a registered
transfer agent loses its exempt status. Once the conditions for
exemption no longer exist, the transfer agent, to keep the appropriate
ARA apprised of its current status, must prepare, and file if the ARA
for the transfer agent is the Fed or the FDIC, a notice of loss of
exempt status under paragraph (c). The transfer agent then cannot claim
exempt status under Rule 17Ad-4(b) again until it remains subject to
the minimum performance standards for non-exempt transfer agents for
six consecutive months.
ARAs use the information contained in the notices required by Rules
17Ad-4(b) and 17Ad-4(c) to determine whether a registered transfer
agent qualifies for the exemption, to determine when a registered
transfer agent no longer qualifies for the exemption, and to determine
the extent to which that transfer agent is subject to regulation.
The Commission estimates that approximately 10 registered transfer
agents each year prepare or file notices in compliance with Rules 17Ad-
4(b) and 17Ad-4(c). The Commission estimates that each such registered
transfer agent spends approximately 1.5 hours to prepare or file such
notices for an aggregate total annual burden of 15 hours (1.5 hours
times 10 transfer agents).
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 on
respondents; 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: Charles Riddle, Acting
Director/Chief Information Officer, Securities and Exchange Commission,
c/o Candace Kenner, 100 F Street NE, Washington, DC 20549, or send an
email to: [email protected].
Dated: October 19, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-23203 Filed 10-23-18; 8:45 am]
BILLING CODE 8011-01-P