[Federal Register Volume 64, Number 90 (Tuesday, May 11, 1999)]
[Notices]
[Page 25386]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-11812]
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SECURITIES AND EXCHANGE COMMISSION
Proposed Collection; Comment Request
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of Filings and Information Services, Washington, DC
20549
Extension:
Rule 17Ac3-1(a) and Form TA-W, SEC File No. 270-96, OMB Control
No. 3235-0151
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'') is soliciting comments on the collection of
information summarized below. The Commission plans to submit this
existing collection of information to the Office of Management and
Budget for extension and approval.
Subsection (c)(3)(C) of Section 17A of the Securities Exchange Act
of 1934 (``Exchange Act'') authorizes transfer agents registered with
an appropriate regulatory agency (``ARA'') to withdraw from
registration by filing with the ARA a written notice of withdrawal and
by agreeing to such terms and conditions are the ARA deems necessary or
appropriate in the public interest, for the protection of investors, or
in the furtherance of the purposes of Section 17A.
In order to implement Section 17A(c)(3)(C) of the Exchange Act the
Commission, on September 1, 1977, promulgated Rule 17Ac3-1(a) and
accompanying Form TA-W. Rule 17Ac3-1(a) provides that notice of
withdrawal from registration as a transfer agent with the Commission
shall be filed on Form TA-W. Form TA-W requires the withdrawing
transfer agent to provide the Commission with certain information,
including (1) The locations where transfer agent activities are or were
performed; (2) the reasons for ceasing the performance of such
activities; (3) disclosure of unsatisfied judgments or liens; and (4)
information regarding successor transfer agents.
The Commission uses the information disclosed on Form TA-W to
determine whether the registered transfer agent applying for withdrawal
from registration as a transfer agent should be allowed to deregister
and, if so, whether the Commission should attach to the granting of the
application any terms or conditions necessary or appropriate in the
public interest, for the protection of investors, or in furtherance of
the purposes of Section 17A of the Exchange Act. Without Rule 17Ac3-
1(a) and Form TA-W, transfer agents registered with the Commission
would not have a means for voluntary deregistration when necessary or
appropriate to do so.
Respondents file approximately thirty Form TA-Ws with the
Commission annually. The filing of a Form TA-W occurs only once, when a
transfer agent is seeking deregistration. In view of the ready
availability of the information requested by Form TA-W, its short and
simple presentation, and the Commission's experience with the Form, we
estimate that approximately one half hour is required to complete Form
TA-W, including clerical time. Thus, the total burden of fifteen hours
of preparation for all transfer agents seeking deregistration in any
one year is negligible.
The Commission estimates a cost of approximately $35 for each half
hour required to complete a Form TA-W. Therefore, based upon a total of
fifteen hours, transfer agents spend approximately $1,050 each year to
complete thirty Form TA-Ws.
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 will
have practical utility; (b) the accuracy of the agency's estimate of
the burden of the 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 in writing within 60
days of this publication.
Please direct your written comments to Michael E. Bartell,
Associate Executive Director, Office of Information Technology,
Securities and Exchange Commission, 450 5th Street, NW, Washington, DC
20549.
Dated: April 29, 1999.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 99-11812 Filed 5-10-99; 8:45 am]
BILLING CODE 8010-01-M
