The Securities and Exchange Commission (SEC) has requested approval from the Office of Management and Budget to continue collecting information under Rule 17Ad-11. This rule requires transfer agents to report specific discrepancies in securities records and other matters to the SEC and relevant regulatory bodies. The Commission estimates the industry-wide annual time burden is minimal, amounting to about 0.5 hours or a cost of $39 per report. Public comments on the necessity and burden of this information collection are invited until March 31, 2025.
Simple Explanation
The SEC wants to keep checking its records with helpers to make sure everything matches and is counted right. They want people to say what they think about how much work it takes to do this until the end of March 2025.