[Federal Register Volume 89, Number 123 (Wednesday, June 26, 2024)]
[Notices]
[Pages 53470-53471]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-13947]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-095, OMB Control No. 3235-0084]


Submission for OMB Review; Comment Request; Extension: Rule 
17Ac2-1

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'') 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 
17Ac2-1 (17 CFR 240.17Ac2-1), under the Securities Exchange Act of 1934 
(15 U.S.C. 78a et seq.).
    Rule 17Ac2-1, pursuant to Section 17A(c) of the Exchange Act, 
generally requires transfer agents for whom the Commission is the 
transfer agent's Appropriate Regulatory Agency (``ARA''), to file an 
application for registration with the Commission on Form TA-1 and to 
amend their registrations under certain circumstances.
    Specifically, Rule 17Ac2-1 requires transfer agents to file a Form 
TA-1 application for registration with the Commission where the 
Commission is their ARA. Such transfer agents must also amend their 
Form TA-1 if the existing information on their Form TA-1 becomes 
inaccurate, misleading, or incomplete within 60 days following the date 
the information became inaccurate, misleading, or incomplete. 
Registration filings on Form TA-1 and amendments thereto must be filed 
with the Commission electronically, absent an exemption, on EDGAR 
pursuant to Regulation S-T (17 CFR 232).
    The Commission annually receives approximately 209 filings on Form 
TA-1 from transfer agents required to register as such with the 
Commission. Included in this figure are approximately 196 amendments 
made annually by transfer agents to their Form TA-1 as required by Rule 
17Ac2-1(c) to address information that has become inaccurate, 
misleading, or incomplete and approximately 13 new applications by 
transfer agents for registration on Form TA-1 as required by Rule 
17Ac2-1(a). Based on past submissions, the staff estimates that on 
average approximately twelve hours are required for initial completion 
of Form TA-1 and that on average one and one-half hours are required 
for an amendment to Form TA-1 by each such firm. Thus, the subtotal 
burden for new applications for registration filed on Form TA-1 each 
year is approximately 156 hours (12 hours times 13 filers = 156), and 
the subtotal burden for amendments to Form TA-1 filed each year is 
approximately 294 hours (1.5 hours times 196 filers = 294). The 
cumulative total is approximately 450 burden hours per year (156 hours 
plus 294 hours).
    Of the approximately 450 hours per year associated with Rule 17Ac2-
1, the Commission staff estimates that (i) sixty percent (270 hours) 
are spent by compliance staff at an estimated hourly wage of $344, for 
a total of $92,880 per year (270 hours x $344 per hour = $92,880); (ii) 
forty percent (180 hours) are spent by attorneys at an estimated hourly 
wage of $462, for a total of $83,160 per year (180 hours x $462 per 
hour = $83,160 per year); and (iii) the total internal cost of 
compliance associated with the Rule is thus approximately $176,040 per 
year ($92,880 in compliance staff costs + $83,160 in attorney costs = 
$176,040 per year).
    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

[[Page 53471]]

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 by July 26, 2024 to (i) www.reginfo.gov/public/do/PRAMain and (ii) David Bottom, Director/Chief Information 
Officer, Securities and Exchange Commission, c/o John Pezzullo, 100 F 
Street NE, Washington, DC 20549, or by sending an email to: 
[email protected].

    Dated: June 20, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-13947 Filed 6-25-24; 8:45 am]
BILLING CODE 8011-01-P