Rules 17Ad-6, 17 CFR 240.17Ad-6 and 17Ad-7, 17 CFR 240.17Ad-7: Recordkeeping Requirements for Registered Transfer Agents

Forms and Documents

Document	Type	Status	Availability
3235-0291 Supporting statement (2023 proposed revision).pdf	Supporting Statement A	Uploaded 2023-08-11	Missing upstream

IC Document Collections

IC ID	Collection	Type	Status	Form
34784	Rules 17Ad-6 and 17Ad-7: Recordkeeping Requirements for Registered Transfer Agents		Modified
261523	Proposed Rule Amendment to 17Ad-7		New

ICR Details

OMB Control No: 3235-0291	ICR Reference No: 202308-3235-008
Status: Historical Inactive	Previous ICR Reference No: 202104-3235-011
Agency/Subagency: SEC	Agency Tracking No: TM-270-151
Title: Rules 17Ad-6, 17 CFR 240.17Ad-6 and 17Ad-7, 17 CFR 240.17Ad-7: Recordkeeping Requirements for Registered Transfer Agents
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule and continue	Conclusion Date: 10/16/2023
Retrieve Notice of Action (NOA)	Date Received in OIRA: 08/14/2023
Terms of Clearance: OIRA will review the submission again upon finalization of the rule.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2024	08/31/2024	08/31/2024
Responses	359	0	359
Time Burden (Hours)	179,500	0	179,500
Cost Burden (Dollars)	0	0	0

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Abstract: Rule 17Ad-6 is needed to (1) ensure that registered transfer agents maintain certain records that are necessary for the Commission to adequately monitor and assess their performance; and (2) to permit the appropriate regulatory agencies ("ARA'S") to examine those transfer agents for compliance with Commission's rules. The Commission and other ARA's use Rule 17Ad-6 records for inspection purposes. Rule 17Ad-7 is needed to ensure that registered transfer agents retain in an easily accessible place for a period of six months to one year all the records required to be made and kept current under the Commission's rules. The collection of information is being revised due to a proposed rule amendment which will add requirements to Rule 17Ad-7.

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Authorizing Statute(s): US Code: 15 USC 78q-1 Name of Law: Section 17A of the Exchange Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AN15	Proposed rulemaking	88 FR 20212	04/05/2023

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
Proposed Rule Amendment to 17Ad-7
Rules 17Ad-6 and 17Ad-7: Recordkeeping Requirements for Registered Transfer Agents

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Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The Commission recently proposed a rule that would increase the burden for this information collection slightly. In addition, the Commission adjusted the number of respondents down slightly because of a decrease in the number of registered entities.

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Annual Cost to Federal Government: $0

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? No

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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: 08/14/2023

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