The Securities and Exchange Commission (SEC) has requested approval from the Office of Management and Budget (OMB) for the continued collection of information under Rule 17Ac2-2 and Form TA-2, as part of the annual reporting requirements for registered transfer agents. These reports help the SEC monitor transfer agents’ business activities. The estimated total time required for all 315 transfer agents to comply with these requirements is 1,359 hours, with an average of about 4.3 hours per agent. The public can view and comment on this information collection request.
Simple Explanation
The SEC wants permission to keep collecting reports from businesses called transfer agents to check what they do. It usually takes a few hours for each company to fill out the papers, and people can talk about whether this is okay or if it's too much work.