[Federal Register Volume 89, Number 139 (Friday, July 19, 2024)]
[Notices]
[Pages 58828-58829]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-15888]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-360, OMB Control No. 3235-0409]


Proposed Collection; Comment Request; Extension: Rule 17Ad-15

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

[[Page 58829]]

(``Commission'') is soliciting comments on the existing collection of 
information provided for in Rule 17Ad-15 (17 CFR 240.17Ad-15) (``Rule 
17Ad-15'') 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-15 requires every registered transfer agent to establish 
written standards for the acceptance of guarantees of securities 
transfers from eligible guarantor institutions. Every registered 
transfer agent is also required to establish procedures, including 
written guidelines where appropriate, to make certain that the transfer 
agent uses those standards to determine whether to accept or reject 
guarantees from eligible guarantor institutions. In implementing these 
requirements, the Commission aims to ensure that registered transfer 
agents treat eligible guarantor institutions equitably.
    Additionally, Rule 17Ad-15 requires every registered transfer agent 
to make and maintain records in the event the transfer agent determines 
to reject signature guarantees from eligible guarantor institutions. 
Registered transfer agents' records must include, following the date of 
rejection, a record of the rejected transfer, along with the reason for 
rejection, the identification of the guarantor, and an indication 
whether the guarantor failed to meet the transfer agent's guarantee 
standards. Rule 17Ad-15 requires registered transfer agents to maintain 
these records for a period of three years. The Commission designed 
these mandatory recordkeeping requirements to assist the Commission and 
other regulatory agencies with monitoring registered transfer agents 
and ensuring compliance with the rule. This rule does not involve the 
collection of confidential information.
    The Commission estimates that approximately 315 registered transfer 
agents will spend a total of approximately 12,600 burden hours per year 
complying with recordkeeping requirements of Rules 17Ad-15 (based on 
approximately 40 burden hours per year per registered transfer agent). 
The Commission also estimates the aggregate annual internal cost of 
compliance for the approximately 315 registered transfer agents is 
approximately $4,019,400 (based on 40 hours annual burden x $319 hourly 
wage x 315 respondents). This reflects a decline in aggregate annual 
internal cost of compliance of $650,760 due to the decrease in the 
number of registered transfer agents from 366 to 315.
    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 
September 17, 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: Austin Gerig, Director/
Chief Information Officer, Securities and Exchange Commission, c/o 
Oluwaseun Ajayi, 100 F Street NE, Washington, DC 20549, or send email 
to: [email protected].

    Dated: July 15, 2024.
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2024-15888 Filed 7-18-24; 8:45 am]
BILLING CODE 8011-01-P