Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR). In accordance with 5 CFR 1320, OMB is withholding approval at this time. The agency shall examine public comment in response to the NPRM and will include in the supporting statement of the next ICR--to be submitted to OMB at the final rule stage--a description of how the agency has responded to any public comments on the ICR, including comments on maximizing the practical utility of the collection and minimizing the burden.
Inventory as of this Action
Requested
Previously Approved
02/29/2012
36 Months From Approved
05/31/2013
2,432
0
2,432
3,040
0
3,040
3,297,792
0
3,297,792
Rule 17Ad-17 requires transfer agents, brokers, dealers, and paying agents to conduct database searches to locate lost securityholders.
PL:
Pub.L. 111 - 203 929W
Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
PL: Pub.L. 111 - 203 929W Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
The changes in burden result from a substantial increase in the number of entities subject to Rule 17Ad-17, which was caused by a change to federal law. Note that while the time burden increased, the cost burden decreased; this decrease is due to the fact that internal labor costs had been included in the prior approval, and are no longer included in this current submission.
Note that we have received an emergency extension for the approval of the rule as not amended, pending adoption of the rule proposal to which this submission relates.
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
201117AD-17justification (17Nov11)[1].doc
DoddFrankStatute.pdf
Transfer Agents' Obligation to Search for Lost Securityholders (17 CFR 240.17Ad-17)