SEC Requests Comment on Securities Transfers Rule Extension from OMB (Fed. Reg.)

The SEC's request for an extension of the approved collection of information provided for in Rule 17Ad-15 under the Securities Exchange Act was published in the Federal Register. Rule 17Ad-15 requires approximately 429 transfer agents to establish written standards for the acceptance or rejection of guarantees of securities transfers from eligible guarantor institutions.

Transfer agents are required to establish procedures to ensure that those standards are used by the transfer agent to determine whether to accept or reject guarantees from eligible guarantor institutions. Rule 17Ad-16 requires that transfer agents maintain, for a period of three years following the date of a rejection of transfer, a record of all transfers rejected, along with the reason for the rejection, identification of the guarantor, and whether the guarantor failed to meet the transfer agent's guarantee standard.

Comments must be submitted before September 11, 2015.

See: 80 FR 48132: Submission for OMB Review; Comment Request.