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F

e d e r a l

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DALLAS, TEXAS

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D

a lla s

75222
C irc u la r No. 78-167
December 1, 1978

LOST AND STOLEN SECURITIES PROGRAM

TO ALL STATE MEMBER BANKS IN THE
ELEVENTH FEDERAL RESERVE D IS T R IC T:
On J u ly 31, 1978, the S ecurities and Exchange Commission issued a
release soliciting public comment concerning the operation of the Lost and Stolen
S ecurities Program and the redesignation of Securities Inform ation C enter, Inc.
(SIC) as the Commission's designee to m aintain and operate the com puterized
data base of m issing, lost, counterfeit, or stolen sec u ritie s. The comment period
was subsequently extended from September 8, 1978, to October 15, 1978.
To allow sufficient o pp ortun ity to fu lly consider the comments received
from banks and other rep o rtin g institutions, the Commission has announced an e x ­
tension in the Lost and Stolen Securities Program 's pilot period from December 31,
1978, until June 30, 1979. In a d d itio n , the Commission has announced the redes­
ignation of SIC as the Commission's designee to m aintain and operate the com puter­
ized data base fo r a period of two years beg inn ing Jan uary 1, 1979, and the
re re g is tra tio n of certain institutions subject to the Commission's Rule 17f—
1
(17 CFR 2 4 0 .17f-1) w ith SIC before December 15, 1978. T h e re is enclosed a copy
of the Fed eral R e g is ter notice announcing these changes and including the 1979
registration form .
Please note th at, in accordance w ith the requirem ents for reg is tra tio n ,
your bank must complete and file the 1979 reg istra tio n form by December 15, 1978,
unless your bank is a lre a d y reg istered w ith SIC as an in d ire c t in q u ire r and your
bank's 1977 reg istra tio n form continues to be c u rre n t and c o rre c t. In filin g the
1979 reg istra tio n form , you may elect to change yo u r participation status from
d ire c t in q u ire r to in d ire c t in q u ire r or vice versa and such election w ill be binding
through June 30, 1979. If your bank is a lre a d y reg istered as a d ire c t in q u ire r and
you fail to submit the 1979 reg istra tio n form , yo u r bank w ill be deemed to have
agreed to the announced increase in reg istra tio n fees and charges and w ill be
b ille d acco rd in g ly by S IC .
T h e S ecurities and Exchange Commission has in the past expressed con­
cern that many banks have failed to re g is te r und er the Lost and Stolen Securities
P rogram . For this reason, we feel compelled to rem ind you that section 17(f) (1)
of the S ecurities Exchange A ct of 1934, as am ended, re q u ire s compliance w ith the

Banks and others are encouraged to use the following incoming W A T S numbers in contacting this Bank:
1 -8 00 -492 -440 3 (intrastate) and 1 -8 00 -527 -497 0 (interstate). For calls placed locally, please use 651 plus
the extension referred to above.

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)

-

2 -

Program by a ll members of the Federal R eserve System, among others. If your
bank has not p re v io u s ly re g is te re d as a d ire c t o r in d ire c t in q u ir e r w ith S IC , we
request that you file a 1979 re g is tra tio n form by the December 15th deadline.
A ny questions you may have re g a rd in g these changes o r the operation
of the Lost and Stolen S ecurities Program may be d irected to M r . G regory C .
Y a rle y at the S ecurities and Exchange Commission (202/376-8129) o r M r . W illiam C .
R ed d ick, J r . , at this R eserve B ank, E x t. 6276.
S in ce re ly y o u rs ,
Robert H . Boykin
F irs t V ic e President
Enclosure

THURSDAY, NOVEMBER 9 ,1 9 7 8
PART II

SECURITIES AND
EXCHANGE
COMMISSION
a

LOST AND STOLEN
SECURITIES PROGRAM
Extension of Yhe Pilot Period;
Redesignation of Securities
information Center, Inc.;
Redesignation of Certain
Institutions

NOTICES

52418

[8010-01-M ]
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34-15289]
LOST AND STOLEN SECURITIES PROGRAM
Extension of th e Pilot Period; Redesignation of
Securities Information Center, Inc; Reregis­
tration of Certain Institutions

AGENCY: Securities and Exchange
Commission.
ACTION: Notice of th e extension of
th e Lost and Stolen Securities P ro­
gram ’s (th e “Program ”) pilot period,
th e redesignation of Securities In fo r­
m ation Center, Inc. (“SIC ”) as the
Commission’s designee to m aintain
and operate th e d ata base of missing,
lost, counterfeit or stolen securities,
and th e reregistration of certain insti­
tutions subject to R ule 17f-l (17 CFR
§ 240.17f-l) w ith SIC.
SUMMARY: T his action extends th e
Program ’s pilot period until Ju n e 30,
1979, redesignates SIC as th e Commis­
sion’s designee for a period of 2 years
beginning Janu ary 1, 1979, and re­
quires certain institutions subject to
§ 24017f-l to register w ith SIC utiliz­
ing a revised registration form before
December 15, 1978.
EFFECTIVE DATE: November 1,
1978.
FOR FU RTHER INFORMATION
CONTACT:
Gregory C. Yadley, Division of
M arket Regulation, Securities and
Exchange Commission, W ashington,
D.C. 20549 202-376-8129.
SUPPLEMENTARY INFORMATION:
T he Commission today announced th e
extension of th e Program ’s pilot
period until Ju n e 30, 1979, th e redesig­
nation of SIC as th e Commission’s des­
ignee to m aintain and operate th e
computerized data base of missing,
lost, counterfeit or stolen securities for
a period of two years beginning Janurary 1, 1979, and th e reregistration of
certain institutions subject to Rule
17f-l (17 CFR § 240.17f-l) w ith SIC
before December 15, 1978.1In addition,
all institutions w hich reregister as
direct inquirers and direct inquirers
who fail to subm it a new registration
form indicating a change of statu s in
accordance w ith instructions con­
tained in th e Appendix will be charged
for SIC ’s services according to an esti­
m ated revised fee schedule beginning
on Ja n u a ry 1, 1979.
B ackground

T he problems relating to missing,
lost, counterfeit, and stolen securities
'B oth the pilot period and SIC's original
period of designation will expire on Decem­
ber 31, 1978.

were outlined by th e Commission in
1970 2 and were subsequently th e sub­
ject of a series of Congressional h e a r­
ings.3 Im plem entation of a system to
receive reports and inquiries concern­
ing missing, lost, counterfeit, and
stolen securities was recommended by
members of Congress, th e industry,
and law enforcem ent agencies. To ac­
complish this objective, th e Securities
Acts Amendments of 1975 added sec­
tion 17(f)(1) into th e Securities E x­
change Act of 1934 (th e “Act” ). This
section provides th a t certain financial
in stitu tio n s4 shall m ake reports and
inquiries w ith respect o t missing, lost,
counterfeit or stolen securities in ac­
cordance w ith rules prom ulgated by
th e Commission. Section 17(f)(1) also
provides th a t reports and Inquiries
shall be made to th e “Commission or
o th er person designated by th e Com­
mission” and th a t reasonable fees may
be charged for th e processing of such
data.
On December 6, 1976, th e Commis­
sion adopted § 240.17f-l, establishing
reporting and inquiry requirem ents
with respect to missing, lost, counter­
feit, or stolen secu rities.5 On August 5,
1T977, th e Commission published th e
final, am ended version of § 240.17f-l,6
and on Ja n u ary 2, 1978, th e system for
th e processing of reports and inquiries
became fully operational.
In order to m onitor th e effectiveness
of th e section and th e system designed
to carry out th e P rogram ,7 th e Com­

mission determ ined th a t th e Program
should be instituted initially on a pilot
basis, th ro u g h December 31, 1978. F u r­
therm ore, th e Commission determ ined
th a t it would be appropriate to desig­
n ate an o th er person, as provided for
by th e statu te, to receive and process
reports and inquiries made pursuan t
to th e section on behalf of th e Com­
m ission.8 Accordingly, th e Commission
solicited plans from persons Interested
in acting at th e Commission’s designee
and, a fter analysis of th e submissions,
designated SIC to m aintain and oper­
ate th e data base of missing, lost,
counterfeit or stolen securities on its
behalf thro u g h th e pilot period ending
December 31, 1978.9
O n July 31, 1978, th e Commission
issued a release soliciting public com­
m ents concerning th e operation of th e
Program and redesignation of SIC as
th e Commission’s designee.1 T h ereaf­
0
ter, in response to num erous requests
for additional tim e in which to subm it
comments, th e Commission extended
th e com m ent period from Septem ber
8, 1978, to October 15, 1978.1
1
E x t e n s io n o f t h e P il o t P e r io d

T he Commission has determ ined
, th a t, due to th e sh o rt tim e In which to
' consider th e comments received, a
more perm anent version of th e Pro­
gram cannot be in place by December
31, 1978, th e end of th e pilot period. In
order to avoid expiration of th e exemptive provisions which are provided
only for th e duration of th e pilot
2 Study of Unsafe and Unsound Practices period,1 w ithout having had sufficient
2
of Brokers and Dealers, Report and Recom­ opportunity to fully consider th e com­
mendations of the Securities and Exchange m ents received, th e Commission has
Commission (pursuant to section 11(h) of
the Securities Investor Protection Act of
1970), December, 1970.
’Organized Crime-Stolen Securities, Hear­
ings Before the Permanent Subcommittee
on Investigations, Senate Committee on
Government Operations, 92d Cong., 1st sess.
(1971); 93d Cong., 1st sess. (1973); 93d Cong.
2d sess. (1974).
4The institutions subject to section 17(f)l)
are enumerated in the statute as follows:
Every national securities exchange,
member thereof, registered securities associ­
ation, broker, dealer, municipal securities
dealer, registered transfer agent, registered
clearing agency,
participant therein,
member of the Federal Reserve System, and
bank whose deposits are insured by the Fed­
eral Deposit Insurance Corporation. . . .
5 Securities Exchange Act Release No.
13053, 41 FR 54923 (Dec. 10, 1976). Certain
technical amendments were made by the
Commission in Securities Exchange Act Re­
lease No. 13280. 42 FR 11829 (Mar. 1, 1977),
and further amendments regarding the role
of transfer agents in the Program were pro­
posed in Securities Exchange Act Release
No. 13281, 42 FR 1184 (Mar. 1, 1977) and in­
corporated into the rule by Securities Ex­
change Act Release No. 13832, 42 FR 41022
(Aug. 12, 1977).
‘Securities Exchange Act Release No.
13832, 42 FR 41022 (Aug. 12, 1977).
’The Lost and Stolen Securities “Pro­
gram” encompasses both the computerized
data bank maintained by SIC and the proce-

dures established for receipt and processing
of those reports and inquiries directed to it
in accordance with the rule and the Lost
and Stolen Securities Checklist maintained
by the Federal Reserve Banks. The Lost and
Stolen Securities “System” refers only to
the SIC data base and procedures.
'U nder §240.17f-l, reports a,nd inquiries
are directed to the “appropriate instrumen­
tality.” In the case of U.S. Government and
Agency securities, the appropriate instru­
mentality is any Federal Reserve Bank or
Branch. The Commission is the appropriate
instrumentality for all other securities, in­
cluding corporate and municipal issues.
“Securities Exchange Act Release No.
1353, 42 FR 26495 (May 12, 1977). AutEx,
Inc. was originally named as the designee.
Subsequently, as a result of the acquisition
of AutEx by ITEL Corp., SIC was created as
a wholly-owned subsidiary of ITEL Corp.
1 Securities Exchange Act Release No.
0
15015, 43 FR 34790 (Aug. 7, 1978).
“ Securities Exchange Act Release No.
15159, 43 FR 43035 (Sept. 22, 1978).
1 The Commission, in Securities Exchange
2
Act Release NO. 13832 (Aug. 5, 1977), pro­
vided inquiry exemptions for registered
transfer agents and for securities transac­
tions for less than $10,000 face value and
market value of bonds and stocks, respec­
tively, and reporting and inquiry exemp­
tions with respect to corporate and munici­
pal issues not assigned CUSIP numbers.

FEDERAL REGISTER, VOL. 43, NO. 218— THURSDAY, NOVEMBER 9, 1978

52419

NOTICES

concluded th a t th e pilot period should
be extended. T he Commission, th e re ­
fore, announces th a t th e Program ’s
pilot period which was to expire on
December 31, 1978, is extended until
Ju n e 30, 1979.
R e d e s i g n a t i o n o f SIC
In anticipation of th e end of th e
pilot period and th e expiration of
SIC’s term of designation, th e Com­
mission solicited submissions from p er­
sons interested in serving as its desig­
nee to operate and m aintain th e data
base of missing, lost, counterfeit or
stolen securities in Securities Ex­
change Act Release No. 15015 (July 31,
1978).1 In form ulating th e ir submis­
3
sions, prospective designees were to
consider carefully th e “C riteria for a
Lost and Stolen Securities R eporting
and Inquiry System ” set fo rth in an
appendix to th a t release. T here th e
Commission stated:

In making a designation, the Commission
will consider the following factors, among
others: the cost of implementing the
system, the amount of time necessary to ini­
tiate the system, the costs of operation, the
costs of compliance to reporting institu­
tions, the compatability of the system with
existing securities information systems, the
ability of the system to respond to fluctu­
ations in reporting and inquiry volume in an
efficient manner, the experience of the des­
ignee in managing similar programs, and
the method of allocating costs and billing
subscribers.1
4

In addition, comments were solicited
from interested persons concerning
th eir experience in working w ith SIC,
th eir suggestions for modifications of
its system, and th e appropriate
num ber of years for which a designa­
tion should be made.
In response to th e Commission’s so­
licitation, plans were subm itted by SIC
and Compliance D ata Center, Inc.
(“CDC” ). Furtherm ore, several public
comments regarding SIC’s general p er­
form ance during th e pilot program
were received and analyzed by m em­
bers of th e Commission’s staff.
T he Commission has analyzed th e
plans of CDC and SIC in light of th e
“C riteria” and th e public comments.
A fter careful consideration, it has de­
term ined to redesignate SIC for a two
year period commencing Ja n u ary 1,
1979. SIC’s operational costs for th e
first year’s operation of th e Program
were significantly less th a n CDC’s pro­
jected operational costs for th e same
period of time. In addition, SIC ’s
m ethod of allocating costs am ong sub­
scribers appears to be more appropri­
ate and equitable th a n th a t proposed
by CDC due to th e fact th a t th e SIC
m ethod spreads th e costs over a larger
segm ent of th e participating in stitu ­
tions, Finally, since th e SIC system is
an ongoing system and is fully opera1 See note 10, supra.
3
“ Id.

tive, redesignation will n o t necessitate
any f u rth e r im plem entation costs or
interru ption in service. In contrast,
CDC’s plan would require an assess­
m ent for im plem entation and a period
of th re e m onths in order to become
fully operational.1
5
It also appears th a t SIC has m an­
aged th e system in a satisfactory
m anner during its term of designation.
Since October 3, 1977, th e effective
date of th e reporting provisions of
§ 240.17f-l, SIC has received a to tal of
273,734 reports representing $1.4 bil­
lion 1 in missing, lost, counterfeit or
6
stolen securities and has processed
1,363,962 inquiries.1 D uring th e first
7
nine m onths of th e pilot year, a total
of 194 inquiries resulted in m atching
reports (“h its ”). T he securities in­
volved in these h its are valued at
$8,385,102.1 I t is anticipated th a t the
8
system ’s effectiveness will be en­
hanced by th e incorporation of the
N ational Crime Inform ation C enter’s
(“NCIC” ) computerized file of securi­
ties th e fts into th e SIC d ata base,
which will be completed shortly. F inal­
ly, comments from industry sources
concerning SIC’s perform ance have
been favorable.
A fter consideration of th e two plans,
th e Commission has concluded th a t
SIC ’s system is sufficiently responsive
and lowest in cost. SIC h as addressed
th e Commission’s criteria for a system
to im plem ent th e Lost and Stolen Se­
curities Program during th e pilot
period and has developed, im plem ent­
ed, operated, and m aintained a system
flexible enough to react to future de­
velopm ents in th e area. Therefore,
subject to its undertaking to comply
w ith th e Principles of Designation
contained below, SIC is redesignated
to operate and m aintain th e data base
of missing, lost, counterfeit or stolen
securities for a 2-year period beginning
Ja n u a ry 1, 1979.1
9
T he Commission has determ ined
th a t designation for a 2-year term is
appropriate. Such a period of designa­
tion is consistent w ith th e Commis­
sion’s goal of reducing and eventually
immobilizing th e actual m ovem ent of
physical securities certificates and pro­
vides th e Commission w ith m axim um
flexibility relating to th e fu tu re size
and scope of th e Program as book
entry and depository systems are in­
creasingly utilized by th e securities in ­
dustry. In addition, th e 2-year term
“ In addition to these added implementa­
tion costs, designation of CDC would neces­
sitate the transfer of all data contained in
the computer storage files of SIC and would
lead to some initial confusion and disrup­
tion on the part of institutions subject to
§ 240.17f-l.
1 As of Oct. 14, 1978.
6
1 As Of Oct. 1. 1978.
7
1 As of Oct. 1, 1978.
8
1 A full description of the SIC System is
3
contained as an appendix to this release.

m ay allow SIC to have m ore flexibility
in its planning and in m aking appro­
priate operational and budgetary pro­
jections.
P rin c iples

of

D esignation

Securities Inform ation C enter, Inc.,
has been chosen as th e Commission’s
designee subject to its undertaking to
comply w ith th e following “Principles
of Designation.” 2 These principles axe
0
th e m ajor responsibilities which SIC is
expected to undertake.
1. T h e designee shall im plem ent 17
CFR 240.17f-l, (Rule 17f-l) throu gh
its operation of th e Lost and Stolen
Securities Inform ation System in ac­
cordance w ith th e term s of its submis­
sion and a t th e rates specified below,
for a 2-year period commencing Ja n u ­
ary 1, 1979, and ending December 31,
1980.
2. T h e designee shall:
a. Receive reports and respond to in­
quiries fo r w hich th e Commission is
th e appropriate instrum entality;
b. M aintain records of such reports
and inquiries and furnish such records
to institutions in accordance w ith its
submission; and
c. Collect fees, as approved by th e
Commission, from reporting in stitu ­
tions to defray th e costs of th e system.
3. T he designee sh all m aintain th e
capacity to:
a. Receive rep orts an d inquiries hy
telephone, th e mails, telex, .and o th e r
means;
b. G enerate h ard copy confirm ations
to reporting institutions w ith respect
to all reports and inquiries made by
such Institutions; and
c. Retrieve records of inquiry by
nam e of th e reporting institution as
well as by th e nam e of th e particular
security.
4. T h e designee w arrants th a t all
work shall be perform ed in a business­
like m anner and in accordance w ith
th e highest standards.
5. T he designee shall have th e capac­
ity to include in its d ata base all re­
po rts of missing, lost or stolen securi­
ties m ade prior to th e effective date of
§ 240.17f-l and shall include such re ­
po rts as th e Commission may direct.
6. T h e designee sh all keep a current
and tru e record, available for inspec­
tion by th e Commission, w ith respect
to each report, inquiry, confirm ation,
correction, or o th er inform ation re ­
ceived p u rsu an t to th is designation,
th e tim e of and m eans by w hich such
report, inquiry or o th er inform ation
was received, th e tim e of response, th e
m eans by Which a response was given,
and th e n a tu re of th e response. T he
designee shall m ake available for th e
2 If SIC is unwilling or unable to comply
0
with the Principles of Designation, the
Commission may designate another entity
or take such other action as it may deem ap­
propriate.

FEDERAL REGISTER, VOL. 43, NO. 218—THURSDAY, NOVEMBER 9, 1978

52420

NOTICES

Commission’s inspection all records
and accounts of am ounts billed to re­
porting institutions, th e basis for th e
bills, am ounts received from reporting
institutions, and accounts on expenses
incurred by th e designee. Such records
for any calendar year shall be kept for
3 years a fte r th e end of th e calendar
year. T he designee shall make periodic
reports to th e Commission as th e
Commission deems appropriate and
necessary.
7. All reports and inquiries received
p u rsu an t to § 240.17f-l and all confir­
m ations of such reports and inquiries,
billing inform ation, and any o th e r rec­
ords m aintained p u rsu an t to this des­
ignation, are th e property of th e Com­
mission. T he designee shall furnish to
th e Commission upon dem and true,
correct, complete, and current copies
of any or all, or any p a rt of, such rec­
ords m aintained p u rsu an t to this des­
ignation.
8. T he designee shall report to th e
Commission quarterly:
a. T he num ber of reports received
during th e quarter, d ata as to th e
num ber relative to stolen securities
and counterfeit securities, and d ata as
to th e types of securities reported;
b. T he num ber of inquiries received
during th e quarter;
c. T he num ber of “h its” experienced
each q uarter, th e identity of th e in­
quiring and reporting institutions, and
th e dollar value of th e securities in­
volved;
d. Cumulative data on th e identity
and location of institutions m aking re ­
ports and inquiries and experiencing
“hits;”
e. T he dollar value of securities re­
ported as missing, lost, counterfeit, or
stolen;
f. T he num ber of reporting institu ­
tions which are direct subscribers;
g. T he num ber of reporting in stitu ­
tions which are indirect subscribers;
h. Expenses incurred by th e desig­
nee;
i. The am ounts billed to reporting
Institutions; and
j. Any o th e r inform ation which th e
Commission may direct.
9. T h e Commission may direct th a t
th e designee shall carry o u t different
or additional routine and necessary
functions incidental to its role as th e
Commission’s designee, as th e Com­
mission deems appropriate.
10. Such functions th a t may be spec­
ified as “exceptional” will be outlined
In writing to th e designee, and if th e
designee desires com pensation for
such functions, an estim ate of th e
costs entailed will be subm itted to th e
Commission sta ff for approval. Upon
completion of th e function, th e desig­
nee will subm it an accounting of
actual costs, w hich will be th e basis
for charges to be billed to reporting in­
stitutions.

11. D uring th e first year of th e term
of designation, th e designee shall be
entitled to charge 28 cents p er report
and inquiry processed, th e aggregate
to ta l of which will be allocated to all
direct subscribers in accordance w ith
th e pricing stru ctu re announced in Se­
curities Exchange Act Release No.
15289. In addition, th e designee shall
be entitled to charge each direct sub­
scriber a $20 fee for registration of
each prim ary access station and $10
for registration of each secondary
access station and a fee of $10 per
annum for reten tio n of files for indi­
rect inquirers, as p a rt of th e oper­
ational costs of th e Program during
th e first year of th e term of designa­
tion. Pees for special services which
have been approved by th e Commis­
sion may also be charged to particip at­
ing institutions a t th e direction of th e
Commission. T he Commission may
change th e pricing stru ctu re a t any
time. T he rates to be charged by the
designee for th e second calendar year
of th e term of designation shall be in­
creased by a percentage equal to th e
percentage by w hich th e U.S. B ureau
of Labor Statistics Consumer Price
Index for U rban Wage E arners and
Clerical W orkers, New York, N.Y.—
N o rth eastern New Jersey—All items,
Series A (1967—100), has increased
since Septem ber 30, 1978. T he percent­
age increase in such Index shall be de­
term ined using th e last Index pub­
lished prior to th e beginning of such
calendar year.
12. T he designee shall agree to any
o th er reasonable conditions as th e
Commission may direct.
R e r e g is t r a t io n o f R e p o r t in g
I n s t it u t io n s

A ttached as an appendix to th is re ­
lease is a description of th e operations
of Securities Inform ation C enter, Inc.,
and a registration form for th e 1979
Program . T he system will operate in
substantially th e same m anner as in
th e first year of th e Program ’s oper­
ation, w ith th e only m ajor modifica­
tion being th e initiation of procedures
for notifying reporting institutions
th a t an inquiry has m atched a rep o rt­
ed loss. Fees for th e Program have
been increased slightly, and are de­
scribed in th e attached Appendix.

The 1979 registration form must be
submitted by all institutions who ( 1 )
have not previously registered in the
Program, (2) have registered as direct
inquirers, regardless of whether they
desire to amend their prior registra­
tion, and (3) have registered as indi­
rect inquirers and wish to amend their
prior registration. The only class of in­
stitution that need not reregister are
those that registered previously as in­
direct inquirers and do not desire to
amend or update their prior registra­
tion. All reporting institutions will.

however, continue to be subject to th e
provisions of th e Program . All institu­
tions may, a t th is time, change th e ir
election of inquiry participation status
and such elections will be binding
th ro u g h Ju n e 30, 1979. All registration

forms must be submitted to the Securi­
ties Information Center, Inc., by De­
cember 15, 1978.
S t a t u t o r y B a s is and C o m p e t it iv e
C o n s id e r a t io n s

T he Commission designates SIC to
receive reports sind inquiries required
to be made to th e Commission under
§ 240.17f-l, subject to th e conditions
contained herein, pu rsu an t to th e Se­
curities Exchange Act of 1934, as
am ended, including sections 2, 10, 15,
17, and 23 thereof. T he Commission
finds th a t any burden upon competi­
tion imposed by th is designation is
necessary and appropriate in th e
public interest and for th e protection
of investors in order to continue th e
Lost and Stolen Securities Program es­
tablished p ursu an t to section 17(f)(1)
of th e Act.
By th e Commission.
Dated: November 1,1978.
G e o r g e A. F i t z s i m m o n s ,

Secretary.

A p p e n d ix
TH E LOST, M IS S IN G , STOLEN, AND COUN­
TE R FEIT
SE C U R IT IES
IN FO R M A TIO N
SY STEM — D ESCR IPTIO N OF TH E SYSTEM

Introduction
Under 17 CFR 240.17f-l, certain fi­
nancial institutions are required to
make reports and inquiries related to
missing, lost, stolen, and counterfeit
securities. If the, security involved is a
U.S. G overnm ent or Agency security,
such reports and inquiries m ust be
made to a Federal Reserve Bank or
B ran ch .1 In th e case of all o th er secu­
rities, reports and inquiries m ust be di­
rected to th e Secruities Inform ation
Center, Inc. ("SIC ”) which has been
designated by th e Commission to re­
ceive and process all such d ata until
December 31, 1980.
SIC will continue to operate substan­
tially in th e sam e m anner as it has
since O ctober 3, 1977. All institutions
are urged to carefully read th e m ateri­
al below and to refer, if necessary, to
Securities Exchange Act Release No.
138322 in which th e te x t of § 240.17f-l
and im po rtant explanatory inform a­
tion appears.
‘Instructions on how to make reports and
inquiries with respect to U.S. Government
or Agency securities are contained in Securi­
ties Exchange Act Release No. 13832 (42 PR
41022 (Aug. 12, 1977)). The procedures for
reports of Government Agency securities
have not been changed from those in oper­
ation during the pilot period.
z42 FR 41022 (Aug. 12, 1978).

FEDERAL REGISTER, V O L 43, NO. 218—THURSDAY, NOVEMBER 9, 1978

524.21

NOTICES

R eporting Institutions
T he institutions subject to 17 C F R
24Q.17f-l are defined as “reporting in­
stitution s” and include every national
securities exchange, member thereof,
registered
securities
association,
broker, dealer, municipal securities
dealer, registered tran sfer agent, regis­
tered clearing agency, participant
therein, member of th e Federal Re­
serve System and bank whose deposits
are insured by th e Federal Deposit In ­
surance Corporation. All such organiztions are required to report to and
make inquiries of th e system.
1979 Registration Requirem ents
To make reports and inquiries of the
data base m aintained by SIC, all re­
porting in stitu tio n s m u st complete
and file the 1979 registration fo rm that
accompanies this material, except in ­
stitu tio n s registered -with SIC as in d i­
rect inquirers whose 1978 registration
form s are presently current and cor­
rect. An institution m ust file th e 1979
registration form if (1) it is presently
registered as a direct inquirer, regard­
less of w hether th e inform ation sub­
m itted on th e 1977 registration form
continues to be cu rren t and correct,
(2) it is presently not registered with
SIC, or (3) it is presently registered
w ith SIC as an indirect inquirer and
desire to amend or update th e ir 1977
registration form in any way.
D irect inquirers m ust subm it th e
1979 registration form in order th a t
SIC may have on file a current agree­
m ent to pay th e 1979 registration fees.
C urrently registered direct inquirers
who fail to subm it th e 1979 registra­
tion form will be deemed to have
agreed to th e increased 1979 fees and
charges and will be billed accordingly.
In completing th e 1979 registration
form, currently registered direct and
indirect inquirers should update and
am end th e inform ation subm itted pre­
viously and may, if they desire, amend
th e ir registration to indicate a change
in th e ir inquiry participation status.
T he election of inquiry participation
status will be binding thro u g h Ju n e
30. 1979.
All registration form s should be
filled out and retu rn ed to:
S e c u r i t i e s I n f o r m a t io n C e n t e r , I n c .,
P .O . B o x 4 2 1 , W e l l e s l e y H i l l s , M a s s .

02181.
T H E DEADLINE FO R REG ISTRA TIO N IS
DECEMBER 1 5 , 1 9 7 8

R eports
A repo rt is a notice of (1) securities
logt, stolen, missing, or counterfeit; (2)
recovery of securities previously re­
ported lost, stolen, or missing; or (3) a
correction or update of a previous
rep o rt o th er th a n recovery.

All reporting institutions ere rsouired to m a ke repv-rtr. enunvra'.sd in
p a r a g r a p h CtO ol 17 CFR 240.171-1 di­
rectly to the appropriate iiicriur.ientality, and should use Form X-17F-1A
for such purposes. If the sF.curi.y in­
volved is a U.S. Governm ent or Agency
security, th e appropriate instrum en­
tality is any Federal Reserve Bank or
Branch. In th e case of all o th er securi­
ties, th e appropriate instrum entality is
SIC. R eports m ust also be sent to a
tra n sfe r agent for th e issue and to the
appropriate law enforcem ent agency if
crim inality is suspected.
In th e case of repo rts concerning se­
curities for w hich SIC is th e appropri­
ate instrum entality, all Form X-17FlA ’s m ust be signed by an authorized
individual whose signature is on file
with SIC and should be mailed to SIC
at P.O. Box 4 2 1 , Wellesley Hills, Mass.
0 2 1 8 1 w ithin th e time lim its set forth
in 17 CFR 240.17f-l. All reports will be
entered Into th e com puter data base
w ithin 1 day of receipt.
Prelim inary reports m ay also be
made by telephone or telex and insti­
tutions are encouraged to use this
service. Prelim inary reports should in ­
clude th e reporting in stitu tio n’s FINS
num ber, 3 th e CUSIP num ber and cer­
tificate num bers (including all prefixes
and suffixes) of th e securities, and in­
dication of w hether or n o t crim inality
is suspected. Prelim inary reports m ust
be followed prom ptly by a w ritten
rep o rt on Form X-17F-1A signed by
an authorized individual and mailed to
SIC a t P.O. Box 421, Wellesley Hills,
Mass. 02181.
T he designee will send a w ritten
rep ort confirm ation to th e reporting
institution on a weekly basis.
Inquiries
U nder 17 CFR 240.17f-l, reporting
institutions m ust inquire of th e data
base of reported security losses, thefts,
and counterfeits to determ ine th e va­
lidity of securities coming into th e ir
possession or control. In th e case of in­
quiries w ith respect to securities for
w hich SIC is th e appropriate in stru­
m entality, reporting institutions m ust
employ th e m anual, com puter-assisted
system designed by SIC.
F o r t h e p u r p o s e s o f t h i s s y s t e m , a ll
r e p o r t in g i n s t i t u t i o n s m u s t r e g i s t e r a s
e i t h e r d ir e c t o r in d ir e c t in q u ir e r s .
D i r e c t in q u ir e r s m a k e in q u ir ie s o f t h e

3 FINS (“Financial Industry Number
Standard”) numbers are compiled in the
1976 FINS Directory (first edition), pub­
lished by the Depository Trust Co. If an in­
stitution is uncertain as to whether it has a
FINS number, it should consult this Direc­
tory, its self-regulatory organization, its
trade association, or SEC personnel at 202­
376-8134. If an institution has not been as­
signed a FINS number, a number may be
obtained at no cost by writing the Deposi­
tory Trust Co., attention: FINS Publication,
55 Water Street, New York, N.Y. 10041.

•
system directly by using telephone,
tol'x, or mail. Alternatively, a report­
ing institution can participate as an in­
direct inquirer by arranging with a
direct inquirer to act on its bchaU in
making inquiries of the system. Direct
inquirers will be charged th e registra­
tion ft-es and i-tage charges described
below. Indirect inquirers will not be
charged any lees by SIC b ut may
expect direct inquirers acting on their
behah' to charge them costs and serv­
ice char.'",'s.
Upon registering w ith t h e s y s t e m s a
direct inquirer, th e reporting in stitu ­
tion will b e assigned a p p r o p r ia t e
access codes w hich will b e b a s e d , in
part, on th e institution’s F I N S
num ber. T he code m ust be u s e d e a c h
tim e th e reporting in stitu tio n m a k e s
an inquiry o f th e system, w h e t h e r oi>
its own behalf or o n b e h a l f o f a n o t h e r
institution, to insure t h a t o n l y a u t h o r ­
ized direct inquirers have a c c e s s t o t h e
system.
In addition t o t h e r e p o r t in g i n s t i t u ­
t i o n ’s access code, t h e in q u ir y m u s t i n ­
clude t h e securities CUSIP a n d c e r t i f i ­
cate num bers (including a l l s u f f i x e s
and prefixes). M ultiple in q u ir ie s c a n
be made in a s i n g l e m a ilin g , t e l e p h o n e
call, or telex t r a n s m is s io n .
All direct inquirers m ust h a v e a t
least one prim ary access s t a t i o n f r o m
which inquiries will be made t o S I C
and to which m onthly w r i t t e n in q u ir y
confirm ations will b e mailed. I f d e ­
sired, a direct inquirer can access the
system from various stations w ithin its
organization. These additional stations
can be registered as either prim ary or
secondary access stations. A secondary
station makes inquiries of th e system
directly but written confirm ations of
such inquiries will be directed to a pri­
mary access station of th e institution.
A primary access station receives con­
firmations for its own use of th e
system and f o r use by I t s secondary
access stations, if any. Every second­
ary station m ust b e associated w i t h
one and only one prim ary ■station.
P r o c e s s in g o f I n q u ir ie s
D i r e c t in q u ir e r s m a y in q u ir e o f t h e
d a t a b a s e b y t e l e p h o n e , t e l e x , o r m a il.
I n t h e c a s e o f t e l e p h o n e in q u ir ie s ,
d ir e c t in q u ir e r s w i l l r e c e iv e a s p e c ia l
t e lp e h o n e n u m b e r to b e u se d fo r s u c h
p u r p o s e s . O n c a llin g , t h e d i r e c t i n q u ir ­
e r m u s t f u r n is h t h e o p e r a to r it s a c c e s s
c o d e , a n d t h e c e r t i f i c a t e ’s C U S I P a n d
c e r t i f i c a t e n u m b e r . E a c h in q u ir y w ill
b e a s s ig n e d a v a l i d a t i o n n u m b e r w h ic h
c o n f ir m s f o r t h e d ir e c t in q u ir e r t h a t
t h e in q u ir y w a s m a d e . M a il a n d t e l e x
in q u ir ie s s h o u l d I n c lu d e t h e id e n t i c a l
in f o r m a t i o n a n d w ill b e p r o c e s s e d
u p o n t h e ir r e c e ip t b y S IC .
T h e o p e r a t o r w ill t h e n e n t e r t h e
d a t a i n t o t h e d a t a b a s e t o d e t e r m in e i f
t h e C U S I P a n d c e r t i f i c a t e n u m b e r s in
t h e in q u ir y m a t c h t h o s e i n a p r e v io u s -

FBWRAL IWG1SWR, V O l. 43, N O . 218—THURSDAY, NOVEMBER 9, 1978

524^2

NOTICE5

ly subm itted report: If so (a " h it” ), th e
inquiring institution will be notified
immediately of th e match. This posi­
tive confirm ation will include instruc­
tions on how to contact the reporting
institution which subm itted
the
m atching report and notice, if any, of
suspected criminality. The reporting
institution will also be notified of the
hit and of th e identity of th e inquiring
institution.
W ritten confirm ations of inquiries
th a t do not result in a m atch (negative
confirm ations) will be mailed to the
direct inquirer m onthly. An optional
prom pt w ritten confirm ation service
will be available to direct inquirers at
additional cost. W ith this service, th e
prim ary access station will receive con­
firm ation by mail of all Inquiries (posi­
tive or negative) and of all reports re­
ceived by th e system from th a t station
or its secondary access stations. T here
will be one such mailing for each day
on which reports a n d /o r inquiries are
received from the station or its second­
ary access stations.
Schedule of Charges
Under a pricing structure and sched­
ule of fees approved by th e Commis­
sion, organizations th a t are direct in­
quirers will be charged an annual reg­
istration fe$ and usage fees. An indi­
rect inquirer will not be charged these
fees bu t may expect th a t the institu­
tion th a t makes inquiries on its behalf
will require compensation for its costs
and services.
Fees do not cover participants use of
the mails, telephone, or telex for
making reports or inquiries, nor any
training or education of employees of
direct or indirect inquirers in connec­
tion w ith th e use of th e system.
Registration: This annual fee for
direct inquirers covers th e cost of
m aintaining registration data, assign­
m ent of access codes, and billing of all
charges. The fee is based on the
num ber of access stations designated
by the direct inquirer on its registra­
tion form.
For each prim ary access station
$20
For each secondary access
sta tio n ..........................................
$10
Prompt W ritten Confirm ation Serv­
ice (.Optional): In stitutions desiring
th is service will receive prom pt w ritten
confirm aiton of all inquiries and re-

ports received from a direct inquirer
each day via mail, telephone or telex.
Each prim ary access statio n
using th e service (per quarter)
$20
Usage.: These fees will cover th e cost
of verification of authorized system
access, m atching of reports and inquir­
ies, notification of m atches, confirm a­
tion of inquiries, retention of files, and
system improvements.
Usage charges will be billed q u arter­
ly in advance to a single prim ary
access station. These charges, ap­
proved by th e Commission, are based
on th e aggregate volume of inquiries
made by all participating institutions.
T he aggregate cost for processing
Type
B anks

these inquiries is apportioned among
all direct inquiries according to th e ir
size classification. T hus, an institution
is n o t billed on th e basis of its actual
usage of th e system and, for th e
charge assessed, it m ay m ake an un ­
lim ited num ber of Inquiries.
T he charges outlined below are
based on estim ates of th e num ber of
direct inquirers th a t will register for
1979 and of th e aggregate num ber of
inquiries (10,000 per day). T he ch art
shows how th e range in rates may be
affected by th e total num ber of regis­
tered direct inquirers. It m ust be
stressed th a t n eith er th e Commission
nor SIC has any control over this vari­
able.

S iz e

E s t i m a t e d A n n u a l Usa g e C h a r g e s
I f 500
I f 1000
I t 1500
D ire c t
D ire c t
D ire c t
A m ounts o f D e p o s i t s I n q u i r e r s I n q u i r e r s I n q u i r e r s
O v er $1 B i l l i o n
3200
3000
2800
$500 M i l l i o n t o
$1 B i l l i o n

1600

1500

1400

150

100

75

A n n u a l R evenu e
(M o st r e c e n t
f is c a l y e a r)
O ver $ 2 5 M i l l i o n

3200

3000

2800

$5 M i l l i o n t o
$25 M i l l i o n

2100

1800

1600

600

500

400

L e s s t h a n $ 5 0 0 ,0 0 0 300

250

200

Number o f
S h a re s Issu e d
L a s t Y ear
1 0 0 ,0 0 0 s h a r e s
o r m ore

150

150

150

50

50

50

L e s s th a n $500
M illio n
S e c u ritie s
O r g a n iz a ­
tio n s

$ 5 0 0 ,0 0 0 t o
$5 m i l l i o n

N on-B ank
T ra n sfe r
A g e n ts

L e s s T han 1 0 0 ,0 0 0
sh a re s

All charges will be billed in advance
on a quarterly basis and adjusted sub­
sequently to reflect th e actual aggre­
gate volume of inquiries.

Q uestions concerning any aspect of
th e Lost and Stolen Securites Program
should be directed to Commission per­
sonnel at 202-376-8129 or to SIC a t
617-235-1940.

FEDERAL REGISTER, VOL. 43, NO. 218— THURSDAY, NOVEMBER 9, 1978

y

NOTICES

(Please photocopy this form,

complete, and submit to SIC.)

1979 Registration Form
Lost and Stolen Securities Program
Instruct ions
COMPLETION AND FILING OF THE FORM - All institutions
completing and filing this form should fill in Part I and
Part IV and either Part II or Part III of the form.
Completed forms should be returned to:
Securities Information Center, Inc.
Post Office Box 421
Wellesley Hills, Massachusetts
02181
The deadline for filing this form is December 15, 1 9 7 8 .
WHO SHOULD USE THIS FORM - This form should be completed
and filed by all institutions subject to Rule 17f-l (17 CFR
§240.17f-l) 1/
(1)
Who have NOT submitted a registration form for
the Lost and Stolen Securities Program to
Securities Information Center, Inc., OR
(2) Who have submitted a registration form for the
Lost and Stolen Securities Program to Securities
Information Center, Inc. and registered as a
DIREX'.T INQUIRER, OR
(3) Who have submitted a registration form for the
Lost and Stolen S«carities Program to Securities
Information Center, Inc., and registered as an
INDIRECT INQUIRER AND desire to amend their prior
registration form to either update the
information submitted OR change their inquiry
participation status.
WHO SHOULD NOT USE THIS FORM - Institutions should NOT
complete or file this form if they have previously
registered as an INDIRECT INQUIRER in the Lost and Stolen
Securities Program by submission of a registration form to
Securities Information Center, Inc. AN D the data submitted
thereon is current AND they do not desire to change their
inquiry participation status.
If an institution does not
submit this form, the prior election of inquiry
participation status will continue and be binding through
June 30, 1979.

1/

The institutions subject to Rule 17f-l are as follows:
every national securities exchange, member thereof,
registered securities association, broker, dealer,
municipal securities dealer, registered transfer
agent, registered clearing agency, participant
therein, member of the Federal Reserve System and bank
whose deposits are insured-by the Federal Deposit
Insurance Corporation.

FEDERAL REGISTER, VOL. 43, NO. 2 1S— THURSDAY, NOVEMBER 9, 1978

52423

52424

NOTICES

PART I
A.

Name of Institution
Ma iling Address

Zip Code
FINS Identification No. 2,/
Name, Title, and Telephone
Of Person to Whom Bills
Should Be Directed:

"
(
Name, Title and Telephone
of Person Responsible
for Institution's
Compliance with Rule
17f-l (if different
from above):

_________
(

B.

)

Type of Institution - Check all classifications listed
below that describe the institution. 3 /
(
(

)
)

(
(
{
(
(
(
(
(
(
(
(

2/

)___

)
)
)
)
)
)
)
)
)
)
)

1. Federal Reserve System member.
2. Bank whose deposits are insured by the
Federal Deposit Insurance Corporation.
3. National Securities Exchange.
4. National Securities Exchange
member.
5. National Securities Exchange member firm.
6. Registered Securities Association.
7. Registered Securities Association member.
8. Securities broker.
9. Securities dealer.
10. Municipal securities dealer.
11. Registered transfer agent.
12. Registered clearing agency.
13. Participant in a registered clearing agency.

FINS ("Financial Industry Number Standard") numbers
are compiled in the 1976 FINS Directory (First
Edition), published by the Depository Trust Company.
If an institution is uncertain as to whether-it has a
FINS number, it should consult this Directory, its
(Footnote Continued)

FEDERAL REGISTER, VOL. 43, NO. 21B—THURSDAY, NOVEMBER 9. 197B

NOTICES

C.

Size of Institution - Check the line below that
describes the size of the institution.
1.

Banks (those who checked lines 1 or 2 of B, above)
{
(
(

2.

More than $1 billion in deposits
$500 million to $1 billion in deposits
Less than $500 million in deposits

Securities Organizations (those who checked lines
3 through 10 of B, above)
(
(
(
(

3.

)
)
)

)
)
)
)

More than $25 million in annual revenues
$5 million to $25 million in annual revenues
$500,000 to $5 million in annual.revenues
Less than $500,000 in annual revenues

Non-Bank Transfer Agents (those who checked only
classification 11 of B, above)
(
(

)
)

That issued 100,000 shares or more last
year
That issued less than 100,000 shares last
year

(Continued Footnote)

t

self-regulatory organization, its trade association,
or SEC personnel at 202-376-8129.
If an institution
has not been assigned a FINS number, a number may be
obtained at no cost by writing the Depository Trust
Company, Attention:
FINS Publication, 55 Water
Street, New York, New York
10041.
3/

If no classification describes the institution, the
institution is not subject to Rule 17f-l.
If the
institution desires to participate in the Lost and
Stolen Securities Program as a "permissive inquirer,"
a special application must be made to the Commission
pursuant to paragraph (d) of Rule 17f-l in accordance
with the instructions given in Securities Exchange Act
Release No. 13832 at 42 FR 41024 (August 12, 1977).

FEDERAL REGISTER, VOL. 43, NO. 218— THURSDAY, NOVEMBER 9, 1978

52425

NOTICES

PA.RTS II & III
Election of Inquiry participation Status

To register as a DIRECT INQUIRER, complete Part II
below.
To register as an INDIRECT INQUIRER, complete Part
III below.
This election of inquiry participation status
is binding through June 30, 1979.
Direct inquirers will be able to make inquiries of the
data base directly and will be charged usage fees and
registration fees as described in the Appendix of
Securities Exchange Act Release No. 15289.
Indirect
inquirers will NOT be able to make inquiries directly and
so must make arrangements with a registered direct inquirer
to inquire on its behalf. Indirect inquirers will NOT be
charged any fees by Securities Information Center, Inc. but
should be aware that the institution making inquiries qn
their behalf may assess costs and service charges.
{Indirect inquirers, however, should make reports of loss
directly).

>

PART II
DIRECT INQUIRER

To register as a direct inquirer, please cooplete (A),
(£), and (C) below.
A.
Registration of Access Stations - Indicate the number
of primary and secondary access stations the institution
will use to make inquiries of the system. 4/ All
institutions must have at least one primary access station.
There is an annual registration fee of $20.00 for each
primary access station and $10.fid for each secondary access
station. 5/
NUMBER OF PRIMARY ACCESS STATIONS----NUMBER OF SECONDARY ACCESS STATIONS---

4/

Access stations are described in the "Description of
the System" to which this form is appended.

5/

Institutions establishing secondary access stations
should append to this form a list of the titles,
addresses, and names of the responsible individual for
each secondary access station.

MMRAL M e e w , VOL. 41, MO. f»8—fHUtSOAT, MOVCMSEK *. 19*6

NOTICES

B.
Optional Prompt Written Confirmation Service Indicate whether the institution desires prompt written
confirmation service.
If an institution desires this
service, the Securities Information Center, Inc. will send
the institution written confirmations of all inquiries and
reports received by telephone, telex, and mail on a daily
basis.
If an institution does not desire this service,
confirmations of inquiries will be sent on a monthly basis.
There is a $20.00 per quarter charge for each primary
access station using this service.
(

)

(

)

We do NOT desire prompt written confirmation
service.
We do desire prompt written confirmation service
and agree to pay the fee for this service.

C. Agreement to Pay Fees - After reading the statement
below, please sign in the space provided.
Beginning January 3, 1979, we will participate in
the Lost and Stolen Securities Program as a
direct inquirer.
We agree to pay Securities
Information Center, Inc. the annual
registration fee of $20.00 for each primary
access station and $10.00 for each Secondary
Access Station.
We also agree to pay in advance
quarterly usage fees, charges for optional services we
request, and all sales, use and excise taxes, or other
taxes, which may be levied on or in connection with,
the furnishing of the facilities or services of
the
Securities Information Center, Inc.
We understand
that all fees are due and payable within ten days of
date of invoicing.

(Signature of Authorized Institutional Representative)
(Type or Print)

(TITLE)

PART III
INDIRECT INQUIRER
To register as an indirect inquirer, please complete
the statement below and sign in the space provided.
Beginning January 3, 1979, we will participate
in the Lost and Stolen Securities Program as an
indirect inquirer.
We have entered into an
agreement with
__
__________________
who will (Name of Registered Direct Inquirer)

FEDERAL REGISTER, VOL. 43, NO. 218—THURSDAY, NOVEMBER 9, 1978

52427

52428

NOTICfS
ma ke i n q u i r i e s on our b e h a l f an d we ha v e a c o p y of
th is a g r e e m e n t on file a v a i l a b l e for i n s p e c t i o n .
We
are a w a r e t h a t we w i l l r e c e i v e n o d i r e c t c o n f i r m a t i o n s
f r o m S e c u r i t i e s I n f o r m a t i o n C e n t e r , I nc . , a n d t h a t the
i n s t i t u t i o n th a t m a k e s i n q u i r i e s for us m a y p a s s
t h r o u g h to us the c os t s of us i ng the s y s t e m on our
b e h a l f as w e l l as a d d i t i o n a l s e r v i c e c h a r g e s .

(Signature
(Type

of A u t h o r i z e d

or Pr in t )

Institutional

Representative)

(TITLE)
PART IV

ALL institutions filing this form must complete
and (B) below.
A.
sig n

Agreement - After reading
in the s p a c e p r o v i d e d .

the

statement

below,

(A)

please

We understand that our participation in the Lost and
Stolen Securities Program is required by Rule
17f-l (17 CFR §240.17f-l) under the Securities
Exchange Act of 1934, as amended.
We agree that we
will make reports of missing, lost, counterfeit and
stolen securities and make inquiries relative thereto,
in accordance with Rule 17f-l and instructions of the
Commission or its designee.
We understand that the Securities Exchange Commission
has designated Securities Information Center, Inc. to
operate the Lost, Missing, Stolen, and Counterfeit
Securities Information System.
Securities Information
Center, Inc. will perform its work in a businesslikemanner and in accordance with reasonable standards of
care.
It does not, however, guarantee the accuracy of
any information contained in the records of the System
or of the responses to inquiries concerning missing,
lost» counterfeit, and stolen securities furnished by
it. Securities Information Center, Inc. shall not be
liable for any unintentional delays, inaccuracies,
errors or omissions in said responses, or for any
damages arising therefrom or occasioned thereby, nor

FEDERAL REGISTER, VOL. 43, NO. 218— THURSDAY, NOVEMBER 9, 1978

52429

NOTICES

will it be liable for non-performance or interruption
of services due to fire, storms, strikes, labor
disputes or any causes beyond its control or due to
the act or omission of any other person, firto or
corporation.

(Signature of Authorized Institutional Representative)
(Type or P r i n t )

-(TITLE)

B.
N a m e s and S i g n a t u r e s of P e r s o n s M a k i n g R e p o r t s on
B e h a lf of t he I n s t i t u t i o n - A l l r e p o r t s of m i s s i n g , lost,
c o u n t e r f e i t or s t o l e n s e c u r i t i e s and all r e p o r t s of
r e c o v e r i e s m u s t be s u b m i t t e d on F o r m X - 1 7 F - 1 A a n d s i g n e d by
an i n d i v i d u a l w h o s e s i g n a t u r e is on file w i t h S e c u r i t i e s
I n f o r m a t i o n C e n t e r , Inc.
A l l i n d i v i d u a l s h a v i n g th is
a u t h o r i t y s h o u l d fill in the s p a c e s b e l o w ( a t t a c h
a d d i t i o n a l p a g e s on i n s t i t u t i o n letterhead if necessary).

(Signature
( Pr in t

a nd

or Type)

Date)
(TITLE)

(Signature and Date)
(Print or Type)

MAIL THIS FORM TO:
Securities Information Center, Inc.
Post Office Box 421
Wellesley Hills, Massachusetts
02181
DEADLINE FOR FILING IS DECEMBER 15, 1978.
CFR Doc. 78-31618 Piled 11-8-78; 8:45 am]

FEDERAL REGISTER, V O L 43, NO. 218-rTHURSDAY, NOVEMBER 9, 1978

(TITLE)

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