SEC seeks comment on proposed Rule 17Ad-3(b) information collection extension
Registered transfer agents must report non-compliance to issuers under the proposed extension, with comments due by Oct. 19, 2026.
The Securities and Exchange Commission published a 60-day notice (FR Doc 2026-16821) soliciting comments on a proposed extension of the information collection required by Rule 17Ad-3(b) (17 CFR 240.17Ad-3(b)). The notice carries OMB Control No. 3235-0473 and invites comments through October 19, 2026.
Rule 17Ad-3(b) obligates a registered transfer agent to send a copy of the written notice required under Rules 17Ad-2(c) and (d) to each issuer's chief executive officer when, for two consecutive months, the agent fails to turnaround at least 75 % of all routine items or to process at least 75 % of all items. The copy must be sent within twenty business days after the close of the second month.
The Commission estimates that each year approximately two registered transfer agents file a notice of non-compliance with the Commission and their ARA under Rules 17Ad-2(c) and (d). It further estimates that approximately one of those two agents will meet the requirements of Rule 17Ad-3(b) and will send a copy to issuer-clients. The time burden is estimated at approximately 4 hours per year, resulting in a total annual internal labor cost of approximately $1,320 per year (4 hours × $330 per hour).
Written comments are requested on the necessity, burden accuracy, and potential improvements to the collection, including electronic submission options. Comments should be directed to Austin Gerig, Director/Chief Data Officer, SEC, c/o Tanya Ruttenberg, by the October 19, 2026 deadline.
The notice is dated August 14, 2026.