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[Federal Register: July 24, 2002 (Volume 67, Number 142)]
[Notices]               
[Page 48496-48497]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr24jy02-114]                         

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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 Filings and Information Services, Washington, 
DC 20549.
Extension:
    Rule 17Ad-17, SEC File No. 270-412, OMB Control No. 3235-0469

    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.
    <bullet> Rule 17Ad-17  Transfer Agents' Obligation to Search for 
Lost Securityholders
    Rule 17Ad-17 [17 CFR 240.17Ad-17] requires approximately 952 
registered transfer agents to conduct searches using third party 
database vendors to attempt to locate lost securityholders. The staff 
estimates that the average number of hours necessary for each transfer 
agent to comply with Rule 17Ad-17 is five hours annually. The total 
burden is approximately 4,760 annually for all transfer agents. The 
cost of compliance for each individual transfer agent depends on the 
number of lost accounts for which it is responsible. Based on 
information received from transfer agents, we estimate that the annual 
cost industry wide is $3.3 million.
    The retention period for the recordkeeping requirement under Rule 
17Ad-17 is three years. The recordkeeping requirement under Rule 17Ad-
17 is mandatory 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.
    General comments regarding the estimated burden hours should be 
directed to the following persons: (i) Desk Officer for the Securities 
and Exchange Commission, Office of Information and Regulatory Affairs, 
Office of Management and Budget,

[[Page 48497]]

Room 10102, New Executive Office Building, Washington, DC 20503; and 
(ii) Michael E. Bartell, Associate Executive Director, Office of 
Information Technology, Securities and Exchange Commission, 450 Fifth 
Street, NW., Washington, DC 20549. Comments must be submitted to OMB 
within 30 days of this notice.

    Dated: July 17, 2002.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 02-18645 Filed 7-23-02; 8:45 am]
BILLING CODE 8010-01-P

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