[Federal Register Volume 86, Number 75 (Wednesday, April 21, 2021)]
[Notices]
[Page 20776]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-08145]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-151, OMB Control No. 3235-0291]


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:
    Rules 17Adb-6 and 17Adb-7

    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 17Adb-6 (17 CFR 
240.17Adb-6) and Rule 17Adb-7 (17 CFR 240.17Adb-7) 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 17Adb-6 requires every registered transfer agent to make and 
keep current records about a variety of information, such as: (1) 
Specific operational data regarding the time taken to perform transfer 
agent activities (to ensure compliance with the minimum performance 
standards in Rule 17Adb-2 (17 CFR 240.17Adb-2)); (2) written inquiries 
and requests by shareholders and broker-dealers and response time 
thereto; (3) resolutions, contracts, or other supporting documents 
concerning the appointment or termination of the transfer agent; (4) 
stop orders or notices of adverse claims to the securities; and (5) all 
canceled registered securities certificates.
    Rule 17Adb-7 requires each registered transfer agent to retain the 
records specified in Rule 17Adb-6 in an easily accessible place for a 
period of six months to six years, depending on the type of record or 
document. Rule 17Adb-7 also specifies the manner in which records may 
be maintained using electronic, microfilm, and microfiche storage 
methods.
    These recordkeeping requirements are designed to ensure that all 
registered transfer agents are maintaining the records necessary for 
them to monitor and keep control over their own performance and for the 
Commission to adequately examine registered transfer agents on an 
historical basis for compliance with applicable rules.
    The Commission estimates that approximately 359 registered transfer 
agents will spend a total of 179,500 hours per year complying with 
Rules 17Adb-6 and 17Adb-7 (500 hours per year per transfer agent).
    The retention period under Rule 17Adb-7 for the recordkeeping 
requirements under Rule 17Adb-6 is six months to six years, depending 
on the particular record or document. The recordkeeping and retention 
requirements under Rules 17Adb-6 and 17Adb-7 are mandatory to assist 
the Commission and other regulatory agencies with monitoring transfer 
agents and ensuring compliance with the rules. These rules do not 
involve the collection of confidential information.
    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: David Bottom, Director/
Chief Information Officer, Securities and Exchange Commission, c/o 
Cynthia Roscoe, 100 F Street, NE Washington, DC 20549, or send an email 
to: [email protected].

    Dated: April 15, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-08145 Filed 4-20-21; 8:45 am]
BILLING CODE 8011-01-P