Search Results for keywords:"Lost and Stolen Securities Program"

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Search Results: keywords:"Lost and Stolen Securities Program"

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  • 2025-03972 — Notice of Designation of Entity To Maintain and Operate the Lost and Stolen Securities Program
    Type:Notice
    Citation:90 FR 12030
    Reading Time:about 2 minutes

    The Securities and Exchange Commission (SEC) has appointed Accenture Federal Services LLC to manage the Lost and Stolen Securities Program (LSSP) starting from January 1, 2025. This program, created in 1977, requires certain financial institutions to report and investigate securities certificates that are missing, lost, stolen, or counterfeit. Accenture's role is a result of a competitive selection process and replaces any previous entities holding the designation. The goal is to ensure securities certificates are duly accounted for and validated.

    Simple Explanation

    The SEC picked a company called Accenture to keep track of and fix problems with special papers called securities if they go missing or are stolen. Some people are worried because they aren't sure why Accenture was chosen or if they know how to do the job well.

  • 2024-28223 — Submission for OMB Review; Comment Request; Extension: Rule 17f-1(c) and Form X-17F-1A
    Type:Notice
    Citation:89 FR 95255
    Reading Time:about 2 minutes

    The Securities and Exchange Commission (SEC) has asked for approval from the Office of Management and Budget (OMB) to extend a rule that requires around 9,500 organizations in the securities industry to report missing, lost, or fake securities certificates. These reports are made using Form X-17F-1A and help maintain a database that tracks these securities issues. The estimated total reporting burden is 2,937.5 hours, as Accenture Federal Services LLC is now operating the Lost and Stolen Securities Program. The public can submit comments on this request from December 3, 2024, to January 2, 2025.

    Simple Explanation

    The Securities and Exchange Commission (SEC) wants to keep track of any lost, missing, or fake stock certificates, and they ask companies to report these problems using a special form. People can share their thoughts about this plan from December 3, 2024, to January 2, 2025.

  • 2024-28124 — Submission for OMB Review; Comment Request; Extension: Rule 17f-1(b)
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    Type:Notice
    Citation:89 FR 95300
    Reading Time:about a minute or two

    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!