60 day notice

60 day notice Federal Register, Volume 83 Issue 158 (Wednesday, August 15, 2018).htm

Reporting of missing, lost, stolen or counterfeit securities (17 CFR Section 240.17f-1(c); Form X-17F-1A (17 CFR Section 249.100)

60 day notice

OMB: 3235-0037

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 Federal Register, Volume 83 Issue 158 (Wednesday, August 15, 2018)
[Federal Register Volume 83, Number 158 (Wednesday, August 15, 2018)]
[Pages 40610-40611]
From the Federal Register Online via the Government Publishing Office [http://www.gpo.gov/]
[FR Doc No: 2018-17487]



Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 

    Rule 17f-1(c) and Form X-17F-1A. SEC File No. 270-29, OMB 
Control No. 3235-0037.

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (``PRA'') (44 U.S.C. 3501 et seq.), the Securities and Exchange 
Commission (``Commission'') is soliciting comments on the existing 
collection of information provided for in Rule 17f-1(c) and Form X-17F-
1A (17 CFR 249.100) under the Securities Exchange Act of 1934 (15 
U.S.C. 78a et seq.). The Commission plans to submit this existing 
collection of information to the Office of Management and Budget 
(``OMB'') for extension and approval.
    Rule 17f-1(c) requires approximately 10,100 entities in the 
securities industry to report lost, stolen, missing, or counterfeit 
securities certificates to the Commission or its designee, to a 
registered transfer agent for the issue, and, when criminal activity is 
suspected, to the Federal Bureau of Investigation. Such entities are 
required to use Form X-17F-1A to make such reports. Filing these 
reports fulfills a statutory requirement that reporting institutions 
report and inquire about missing, lost, counterfeit, or stolen 
securities. Since these reports are compiled in a central database, the 
rule facilitates reporting institutions to access the database that 
stores information for the Lost and Stolen Securities Program.
    We estimate that 10,100 reporting institutions will report that 
securities are either missing, lost, counterfeit, or stolen annually 
and that each reporting institution will submit this report 30 times 
each year. The staff estimates that the average amount of time 
necessary to comply with Rule 17f-1(c) and Form X-17F-1A is five 
minutes. The total burden is approximately 25,250 hours annually for 
respondents (10,100 times 30 times 5 divided by 60).
    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 estimate 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. 
Consideration will be given to comments and suggestions submitted in

[[Page 40611]]

writing within 60 days of this publication.
    Rule 17f-1(c) is a reporting rule and does not specify a retention 
period. The rule requires an incident-based reporting requirement by 
the reporting institutions when securities certificates are discovered 
to be missing, lost, counterfeit, or stolen. Registering under Rule 
17f-1(c) is mandatory to obtain the benefit of a central database that 
stores information about missing, lost, counterfeit, or stolen 
securities for the Lost and Stolen Securities Program. Reporting 
institutions required to register under Rule 17f-1(c) will not be kept 
confidential; however, the Lost and Stolen Securities Program database 
will be kept confidential.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information under the PRA unless it 
displays a currently valid OMB control number.
    Please direct your written comments to: Pamela Dyson, Director/
Chief Information Officer, Securities and Exchange Commission, c/o 
Candace Kenner, 100 F Street NE, Washington DC 20549, or send an email 
to: [email protected].

     Dated: August 9, 2018.
Eduardo A. Aleman.
Assistant Secretary.
[FR Doc. 2018-17487 Filed 8-14-18; 8:45 am]

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