[Federal Register Volume 85, Number 222 (Tuesday, November 17, 2020)]
[Notices]
[Pages 73332-73333]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-25255]


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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 FOIA Services, 100 F Street NE, Washington, DC 
20549-2736

Extension:
    Rule 17Ac3-1(a) and Form TA-W; [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 when it is necessary 
or appropriate to do so.
    On average, respondents have filed approximately 58 TA-Ws with the 
Commission annually from 2017 to 2020. A Form TA-W filing occurs only 
once, when a transfer agent is seeking deregistration. 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. Thus, the total annual time burden to the transfer 
agent industry is approximately 29 hours (58 filings x 0.5 hours). We 
estimate that the internal labor cost of compliance per filing is 
approximately $35.5 (0.5 hours x $71 average hourly rate for clerical 
staff time). The total internal compliance cost per year is thus 
approximately $1,030 (29 x $35.5 = $1029.5 rounded up to $1,030).
    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 website: www.reginfo.gov. Find this 
particular information collection by selecting ``Currently under 30-day 
Review--Open for Public Comments'' or by using the search function. 
Written comments and recommendations for the proposed information 
collection should be sent within 30 days of publication of this notice 
to (i) www.reginfo.gov/public/do/PRAMain, and (ii) David Bottom, 
Director/Chief Information Officer, Securities and Exchange Commission, 
c/o Cynthia Roscoe, 100 F Street NE,

[[Page 73333]]

Washington, DC 20549, or by sending an email to: [email protected].

    Dated: November 10, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-25255 Filed 11-16-20; 8:45 am]
BILLING CODE 8011-01-P