Rule 17Ad-10: Accurate Creation and Maintenance of Securityholder Files (17 CFR 240.17Ad-10)

Forms and Documents

Document Name	Status
DGL REVISED 2019 17Ad-10 Supporting Statement (revised).pdf Supporting Statement A	2019-10-30
3235-0273 60 Day Notice.pdf Supplementary Document	2019-10-30
3235-0273 30 Day Notice.pdf Supplementary Document	2019-10-30

IC Document Collections

IC ID	Document Title	Status
34727	Rule 17Ad-10: Accurate Creation and Maintenance of Securityholder Files (17 CFR 240.17Ad-10)	Modified

ICR Details

OMB Control No: 3235-0273	ICR Reference No: 201905-3235-001
Status: Active	Previous ICR Reference No: 201604-3235-010
Agency/Subagency: SEC	Agency Tracking No: TM-270-265
Title: Rule 17Ad-10: Accurate Creation and Maintenance of Securityholder Files (17 CFR 240.17Ad-10)
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 01/02/2020
	Date Received in OIRA: 10/30/2019
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2023	36 Months From Approved	12/31/2019
Responses	333	0	413
Time Burden (Hours)	26,640	0	33,040
Cost Burden (Dollars)	5,994,000	0	7,434,000

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Abstract: 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.

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Authorizing Statute(s): US Code: 15 USC 78q-1(d) Name of Law: Securities Exchange Act of 1934
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 34028	07/16/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 48692	09/16/2019
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Rule 17Ad-10: Accurate Creation and Maintenance of Securityholder Files (17 CFR 240.17Ad-10)

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	333	413	0	0	-80	0
Annual Time Burden (Hours)	26,640	33,040	0	0	-6,400	0
Annual Cost Burden (Dollars)	5,994,000	7,434,000	0	0	-1,440,000	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The decrease in burden hours from 33,040 total annual industry hours in 2016 to the current 26,640 total annual industry hours (a decrease of 6,400 hours) is due to a decrease in the number of registered transfer agents from 413 in 2016 to 333 currently (a decrease of 80). The cost burden decrease from $7,434,000 in 2016 to the current $5,994,000 (a decrease of $1,440,000) is also due to the decrease in the number of registered transfer agents from 413 in 2016 to 333 currently (a decrease of 80).

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Annual Cost to Federal Government: $5,400

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 10/30/2019

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