The Securities and Exchange Commission (SEC) has requested approval from the Office of Management and Budget (OMB) to continue collecting information under Rule 17f-1(b) of the Securities Exchange Act of 1934. This rule involves the Lost and Stolen Securities Program, which requires approximately 9,500 entities to register and report securities issues like missing, lost, or stolen documents. The SEC estimates that four new entities will join the program each year, each taking about half an hour to comply, costing around $172 per entity annually. The public can comment on this information collection request from December 3, 2024, to January 2, 2025, through the provided online platform or email.
Simple Explanation
The SEC wants permission to keep asking some companies to tell them if any important papers—like security documents—go missing, and you can tell them what you think about this plan!