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.