[Federal Register: March 21, 2007 (Volume 72, Number 54)]
[Notices]
[Page 13316]
[DOCID:fr21mr07-93]

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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 Filing and Information Services, Washington,
DC 20549.

Extension: Rule 17Ad-16; SEC File No. 270-363; OMB Control No. 3235-
0413.

    Notice is hereby given that pursuant to the Paperwork Reduction Act
of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange
Commission (``Commission'') has submitted to the Office of Management
and Budget a request for extension of the previously approved
collection of information discussed below.

 Rule 17Ad-16: Notice of Assumption or Termination of Transfer
Agent Services

    Rule 17Ad-16 (17 CFR 240.17Ad-16) under the Securities Exchange Act
of 1934 (15 U.S.C. 78a et seq.), requires a registered transfer agent
to provide written notice to the appropriate qualified registered
securities depository when assuming or terminating transfer agent
services on behalf of an issuer or when changing its name or address.
In addition, transfer agents that provide such notice shall maintain
such notice for a period of at least two years in an easily accessible
place. This rule addresses the problem of certificate transfer delays
caused by transfer requests that are directed to the wrong transfer
agent or the wrong address.
    We estimate that the transfer agent industry submits 600 Rule 17Ad-
16 notices to appropriate qualified registered securities depositories.
The staff estimates that the average amount of time necessary to create
and submit each notice is approximately 15 minutes per notice.
Accordingly, the estimated total industry burden is 150 hours per year
(15 minutes multiplied by 600 notices filed annually).
    Because the information needed by transfer agents to properly
notify the appropriate registered securities depository is readily
available to them and the report is simple and straightforward, the
cost is minimal. The average cost to prepare and send a notice is
approximately $7.50 (15 minutes at $30 per hour). This yields an
industry-wide cost estimate of $4,500 (600 notices multiplied by $7.50
per notice).
    The retention period for the recordkeeping requirements under Rule
17Ad-16 is two years for both the clearing agencies and transfer
agents. The recordkeeping requirement under Rule 17Ad-16 is mandatory
to ensure accurate securityholder records, prompt and efficient
clearance and settlement of securities transactions, and to assist the
Commission and other regulatory agencies with monitoring transfer
agents and ensuring compliance with the rule. This rule does not
involve the collection of confidential information. Please note that an
agency may not conduct or sponsor, and a person is not required to
respond to, a collection of information unless it displays a currently
valid control number.
    Comments should be directed to (i) Desk Officer for the Securities
and Exchange Commission, Office of Information and Regulatory Affairs,
Office of Management and Budget, Room 10102, New Executive Office
Building, Washington, DC 20503 or by sending an e-mail to:
<EMAIL_ADDRESS>and (ii) R. Corey Booth, Director/Chief

Information Officer, Securities and Exchange Commission, c/o Shirley
Martinson, 6432 General Green Way, Alexandria, VA 22312 or send an e-
mail to<EMAIL_ADDRESS>Comments must be submitted to OMB within
30 days of this notice.

    Dated: March 15, 2007.
Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E7-5136 Filed 3-20-07; 8:45 am]

BILLING CODE 8010-01-P