Notice2025-17113
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Extension: Rule 17Ad-17
Primary source
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Published
September 8, 2025
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 90 Issue 171 (Monday, September 8, 2025)</title>
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[Federal Register Volume 90, Number 171 (Monday, September 8, 2025)]
[Notices]
[Page 43275]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-17113]
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SECURITIES AND EXCHANGE COMMISSION
[OMB Control No. 3235-0469]
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Extension: Rule 17Ad-17
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC
20549-2736
Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange
Commission (SEC or ``Commission'') is submitting to the Office of
Management and Budget (``OMB'') this request for an extension of the
proposed collection of information.
Rule 17Ad-17, 17 CFR 240.17Ad-17, requires certain transfer agents
and broker-dealers to make two searches for the correct address of lost
securityholders using an information database without charge to the
lost securityholders. In addition, paying agents are required to
attempt to notify lost payees at least once. In addition, the entities
also are required to maintain records relating to the searches and
notifications. The Commission staff estimates that the rule applies to
approximately 489 broker dealers and transfer agents, and 3,106 paying
agent entities, including carrying firms, transfer agents, indenture
trustees, custodians, and approximately 10% of issuers. The Commission
staff estimates that the total annual burden for searches is
approximately 183,813 hours and the total annual burden for paying
agent notifications is approximately 38,913 hours. In addition,
approximately 5,968 burden hours are associated with recordkeeping,
representing an annual burden of 4,411 hours for the broker-dealers and
transfer agents, and 1,557 for paying agents. The Commission staff
estimates that the aggregate annual burden is therefore approximately
228,694 hours (183,813 + 38,913 + 5,968).
In addition, the Commission staff estimates that covered entities
will incur costs of approximately $6,617,298 annually, primarily as
payment to third party data base providers that will search for the
missing securityholders.
The retention period for the recordkeeping requirement under Rule
17Ad-17 is not less than three years. The recordkeeping requirement
under this rule is mandatory to assist the Commission in monitoring
compliance with the rule. This rule does not involve the collection of
confidential information.
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless it displays a
currently valid OMB Control Number.
Written comments are invited on: (a) whether this proposed
collection of information is necessary for the proper performance of
the functions of the SEC, including whether the information will have
practical utility; (b) the accuracy of the SEC's estimate of the burden
imposed by the proposed collection of information, including the
validity of the methodology and the assumptions used; (c) ways to
enhance the quality, utility, and clarity of the information to be
collected; and (d) ways to minimize the burden of the collection of
information on respondents, including through the use of automated,
electronic collection techniques or other forms of information
technology.
The public may view and comment on this information collection
request at: <a href="https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202506-3235-007">https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202506-3235-007</a> or email comment to
<a href="/cdn-cgi/l/email-protection#125f504a3c5d5f503c5d5b40533c4157514d767761794d7d74747b717760527d7f703c777d623c757d64"><span class="__cf_email__" data-cfemail="3f727d671170727d1170766d7e116c7a7c605b5a4c5460505959565c5a4d7f50525d115a504f11585049">[email protected]</span></a> within 30 days of the day
after publication of this notice, by October 9, 2025.
Dated: September 3, 2025.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-17113 Filed 9-5-25; 8:45 am]
BILLING CODE 8011-01-P
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