[Federal Register: December 31, 2003 (Volume 68, Number 250)]
[Notices]               
[Page 75660]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr31de03-158]                         

=======================================================================
-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

 
Proposed Collection; Comment Request

    Upon Written Request, Copies Available From: Securities and 
Exchange Commission, Office of Filings and Information, 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, requires a registered transfer agent to provide written notice 
to a qualified registered securities depository when assuming or 
terminating transfer agent services on behalf of an issuer or when 
changing its name or address. These recordkeeping requirements address 
the problem of certificate transfer delays caused by transfer requests 
that are directed to the wrong transfer agent or the wrong address.
    Given that there are approximately 450 submit Rule 17Ad-16 notices, 
the staff estimates that the average number of hours necessary for each 
transfer agent to comply with Rule 17Ad-16 is approximately 15 minutes 
per notice or 3.5 hours per year, totaling 1,575 hours industry-wide. 
The average cost per hour is approximately $30 per hour, with the 
industry-wide cost estimated at approximately $47,250. However, the 
information required by Rule 17Ad-16 generally already is maintained by 
registered transfer agents. The amount of time devoted to compliance 
with Rule 17Ad-16 varies according to differences in business activity.
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the agency, including whether the information shall 
have practical utility; (b) the accuracy of the agency's estimates of 
the burden of the proposed collection of information; (c) ways to 
enhance the quality, utility, and clarity of the information on 
respondents; 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. 
Considerations will be given to comments and suggestions submitted in 
writing within 60 days of this publication.
    Please direct your written comments to Kenneth A. Fogash, Acting 
Associate Executive Director/CIO, Office of Information Technology, 
Securities and Exchange Commission, 450 Fifth Street, NW., Washington, 
DC 20549.

    Dated: December 22, 2003.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 03-32169 Filed 12-30-03; 8:45 am]

BILLING CODE 8010-01-P