Rule 17Ad-10, 17 CFR 240.17Ad-10,
under the Securities Exchange Act of 1934, requires a registered
transfer agent to create and maintain minimum information on
securityholders ownership of an issue of securities for which it
performs transfer agent functions, including the purchase, transfer
and redemption of securities. In addition, the rule also requires
transfer agents that maintain securityholder records to keep
certificate detail that has been deleted from those records for a
minimum of six years and to maintain and keep current an accurate
record of the number of shares or principle dollar amount of debt
securities that the issuer has authorized to be outstanding (a
control book). These recordkeeping requirements assist in the
creation and maintenance of accurate securityholder records, the
ability to research errors, and ensure the transfer agent is aware
of the number of securities that are properly authorized by the
issuer, thereby avoiding overissuance. Transfer agents are required
to establish written standards for the acceptance or rejection of
guarantees of securities transfers from eligible guarantor
institutions. Transfer agents are also required to establish
procedures, including written guidelines where appropriate, to
ensure that those standards are used in determining whether to
accept or reject guarantees from eligible guarantor
institutions.
US Code:
15
USC 78q-1(d) Name of Law: Securities Exchange Act of 1934
The increase in the burden
hours from 11,300 total annual industry hours in 2010 to the
current 37,120 total annual industry hours (an increase of 25,820
hours) reflects updated burden estimates based on an informal,
voluntary, and small sample size transfer agent survey. In
addition, the cost burden increase from $565,000 in 2010 to the
current $8,352,000 (an increase of $7,787,000) is due to two
factors. First, the prior Paperwork Reduction Act extension
erroneously treated the monetization of internal labor costs of
compliance (estimated to be $565,000 in 2010) as a separate cost
burden. Second, respondents have since implemented new or upgraded
versions of automated systems for generating, maintaining, and
disclosing or providing certain information required by the rule.
Accordingly, the computer operations and maintenance associated
with these new or upgraded systems now accounts for the entire
$8,352,000 cost burden.
$5,400
No
No
No
No
No
Uncollected
Kenneth Riitho
2025515592
No
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.
2013 Rule 17Ad-10 Supporting Statement (Revised by ARB).pdf
Rule 17Ad-10: Accurate Creation and Maintenance of Securityholder Files (17 CFR 240.17Ad-10)