Notice2022-00254
Submission for OMB Review; Comment Request; Extension: Rule 17f-1(c) and Form X-17F-1A
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
January 11, 2022
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 87 Issue 7 (Tuesday, January 11, 2022)</title>
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[Federal Register Volume 87, Number 7 (Tuesday, January 11, 2022)]
[Notices]
[Pages 1445-1446]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-00254]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-029, OMB Control No. 3235-0037]
Submission for OMB Review; Comment Request; Extension: Rule 17f-
1(c) and Form X-17F-1A
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC
20549-2736
[[Page 1446]]
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'') has submitted to the Office of Management
and Budget (``OMB'') a request for approval of extension of the
previously approved collection of information provided for in Rule 17f-
1(c) (17 CFR 240.17f-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.).
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 certificates 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 X17F-1A is five
minutes per submission. The total burden is approximately 25,250 hours
annually for the entire industry (10,100 times 30 times 5 divided by
60).
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.
The public may view background documentation for this information
collection at the following website: <a href="http://www.reginfo.gov">www.reginfo.gov</a>. Find this
particular information collection by selecting ``Currently under 30-day
Review--Open for Public Comments'' or by using the search function.
Written comments and recommendations for the proposed information
collection should be sent within 30 days of publication of this notice
to (i) <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a> and (ii) David Bottom,
Director/Chief Information Officer, Securities and Exchange Commission,
c/o John R. Pezzullo, 100 F Street NE, Washington, DC 20549, or by
sending an email to: <a href="/cdn-cgi/l/email-protection#dd8d8f9c8290bcb4b1bfb2a59daeb8bef3bab2ab"><span class="__cf_email__" data-cfemail="39696b7866745850555b5641794a5c5a175e564f">[email protected]</span></a>.
Dated: January 5, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-00254 Filed 1-10-22; 8:45 am]
BILLING CODE 8011-01-P
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