[Federal Register Volume 89, Number 45 (Wednesday, March 6, 2024)]
[Notices]
[Pages 16061-16062]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-04652]


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SECURITIES AND EXCHANGE COMMISSION

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


Proposed Collection; Comment Request; Extension: Rules 17Ad-6 and 
17Ad-7

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 
20549-2736.

    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 17Ad-6 (17 CFR 240.17Ad-
6) and Rule 17Ad-7 (17 CFR 240.17Ad-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 17Ad-6 requires every registered transfer agent to make and 
keep current

[[Page 16062]]

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 17Ad-2 (17 CFR 240.17Ad-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 17Ad-7 requires each registered transfer agent to retain the 
records specified in Rule 17Ad-6 in an easily accessible place for a 
period of six months to six years, depending on the type of record or 
document. Rule 17Ad-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 315 registered transfer 
agents will spend a total of 157,500 hours per year complying with 
Rules 17Ad-6 and 17Ad-7 (500 hours per year per transfer agent).
    The retention period under Rule 17Ad-7 for the recordkeeping 
requirements under Rule 17Ad-6 is six months to six years, depending on 
the particular record or document. The recordkeeping and retention 
requirements under Rules 17Ad-6 and 17Ad-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 by 
May 6, 2024.
    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 John 
Pezzullo, 100 F Street NE, Washington, DC 20549, or send an email to: 
[email protected].

    Dated: February 29, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-04652 Filed 3-5-24; 8:45 am]
BILLING CODE 8011-01-P