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FEDERAL RESERVE BANK
OF NEW YORK
M ISSIN G , LOST, C O U N T E R F E IT , OR ST O L E N SE C U R IT IE S
A m en d m en ts to SE C ’s Lost and Stolen S ecu rities P ro g ra m
To the Chief Executive Officers of Alt State Member
Banks in the Second Federal Reserve District:
On M ay 2 3 ,1 9 7 9 , th e S e c u r itie s an d E x c h a n g e C o m m issio n a d o p ted a m e n d m e n ts, e ffe c tiv e J u ly 1,
1979, to th e L ost an d S to len S e c u r itie s P r o g r a m . P rev io u sly , on J u ly 31, 1978, th e C o m m issio n had
an n o u n ced an e x te n sio n in th e P r o g r a m ’s p ilo t p eriod from D e c e m b e r 31, 1978 u n til J u n e 30, 1979 and
th e r e d e sig n a tio n o f S e c u r itie s In fo rm a tio n C en ter, In c. as th e C o m m issio n ’s d e s ig n e e to m a in ta in and
o p era te th e c o m p u te r iz e d d a ta b a se for a p erio d o f tw o y e a r s b e g in n in g J a n u a r y 1, 1979.
T h e a m e n d m e n ts, a m o n g o th er th in g s, c r e a te a c e n tra l d a ta b a se o f m issin g , lost, c o u n te r fe it, and
sto len s e c u r itie s b y p r o v id in g for th e m e r g e r o f th e se p a r a te d a ta b a ses now m a in ta in e d b y th e F e d e r a l
R eserv e B a n k s for U . S. G o v ern m e n t an d A g e n c y s e c u r itie s an d b y S e c u r itie s In fo rm a tio n C en ter, Inc.
for all o th e r s e c u r itie s . T h e m e r g e r o f th e d a ta b a ses is e x p e c te d to b e co m p le te d b y J u ly 1 ,1 9 7 9 , a fte r
w h ic h th e c e n tr a l d a ta b a se w ill b e o p era ted by S e c u r itie s In fo rm a tio n C en ter, Inc.
E n clo sed is a co p y o f th e Federal Register n o tice a n n o u n c in g th e a m e n d m e n ts to th e L ost and S to len
S e c u r itie s P ro g r a m . P le a se n ote th a t if y o u r b an k is a lr e a d y r e g iste r e d as a direct in q u irer , y o u r b ank
m u st r e r e g is te r w ith S e c u r itie s In fo rm a tio n C en ter, In c. b y J u ly 1 5 ,1 9 7 9 b y c o m p le tin g th e r e g istr a tio n
form a tta c h e d a s an a p p e n d ix to th e re le a se . T h e e ffe c tiv e d a te o f th e n ew r e g istr a tio n w ill r e la te b a ck to
J u ly 1 ,1 9 7 9 , th e en d o f th e p ilo t p erio d . R e p o r tin g in stitu tio n s a lr e a d y r e g iste r e d a s direct in q u ir e r s for
1979 w ill not b e c h a r g e d a n o th er a n n u a l fe e w h en th ey r e r e g is te r for th e p erio d b e g in n in g J u ly 1 ,1 9 7 9 .
If, on th e o th er h and , y o u r b ank is a lr e a d y r e g is te r e d as an indirect in q u irer , th e r e g istr a tio n form is not
req u ir e d to b e file d u n le ss you w ish to a m e n d y o u r p rio r r e g istr a tio n to e ith e r u p d a te th e in fo rm a tio n
su b m itte d or c h a n g e y o u r p a r tic ip a tio n sta tu s from in d ir e c t to d ir e c t in q u irer .
It is im p o r ta n t th a t th o se r e sp o n sib le for p r o c e ssin g s e c u r itie s tr a n sa c tio n s b e fa m ilia r w ith th ese
a m e n d m e n ts to e n su r e co m p lia n c e . F o r th is reason you w ill no d o u b t w ish to a p p r ise th o se d e p a r tm e n ts
o f you r b an k lik e ly to b e a ffe c te d by th e n ew a m e n d m e n ts, e .g ., tr u st, in v e stm e n t, tr a n sfe r , c le a r in g , or
d e a le r d e p a r tm e n ts , a n d le n d in g o p era tio n s r e la tin g to co lla te r a l loans.
A n y q u e stio n s you m a y h a v e r e g a r d in g th e a m e n d m e n ts or th e o p era tio n o f th e L ost an d S to len
S e c u r itie s P r o g r a m m a y b e d ir e c te d to M r. G reg o ry C. Y a d le y a t th e S e c u r itie s and E x c h a n g e
C om m issio n (2 0 2 -3 7 6 -8 1 2 9 ) or M r. R ob ert K eih n er o f th e G o v ern m en t B ond and S a fe k e e p in g of
S e c u r itie s F u n c tio n o f th is B a n k (2 1 2 -7 9 1 -6 5 6 5 ).
P aul A. V olcker ,
President.
Thursday
May 31, 1979
Part IV
Securities and
Exchange
Commission
Lost and Stolen Securities Program;
Adopted Amendments
Federal Register / Vcl. 44. No. 106 / Thursday, May 31. 1073 / Rules and Regulations
31 "00
Background
SEC U R ITIES AND EXCHANGE
COMMISSION
17 CFR Parts 240, 249
(Release No. 34-15357; File No. S7-611]
Lost and Stolen Securities Program
Amendments
a g e n c y : Securities and Exchange
Commission.
a c t io n :
Final rales.
SUMMARY: The Commission today
adopted amendments to the Lost and
Stolen Securities Program (the
"Pregram") which establish registration
provisions for all reporting institutions
subject to Section 17(f)(1) of the
Securities Exchange Act of 1934 (the
“Act"), except brokers and dealers
whose only business is conducted on a
national securities exchange and who
do not conduct a public business, and
brokers and dealers who limit their
business to sales of variable contracts
or limited partnerships. These
amendments also create a central data
base of reported securities thefts and
losses: incorporateunto the section the
temporary pilot period exemptions from
reporting and inquiry: establish an
exemption from-required inquiry for
bearer securities received by a reporting
institution directly from a customer to
whom it had previously sold the
securities: and incorporate staff
interpretations extending the exemption
from required inquiry to securities
received from a "certificate drop" and
from a Federal Reserve Bank or Branch.
In addition, this release sets forth
modifications to the Commission's
reporting form. Form X-17F-1A. and a
conforming amendment to section 17a-3.
E FF E C T IV E d a t e July 1.1979.
FOR FU R TH E R IN F O R M A T IO N C O N TA C T!
Gregory C. Yadley, Branch Chief.
Division of Market Regulation,
Securities and Exchange Commission.
Washington. D.C. 20549. telephone 202375-3129.
S U P P LE M E N TA R Y IN F O R M A T IO N :
The
Securities and Exchange Commission
today announced the adoption of
various amendments and modifications
to § 240.17f-l and the Lost and Stolen
Securities Program based on public
comments received in response to
Securities Exchange Act Release Nos.
15015 1and 15633.1
143 FR 34790 (August 7.1978), hereinafter cited as
“Release No. 34-15015."
: 44 FR 20614 (A pni 5. 1979}. hereinafter cited as
“R elease No. 34-15683."
On August 5,1977, the Commission
adopted § 240.17f-l3 implementing
Section i7(f|(l) of the Act which
mandated the establishment of a
securities reporting and validation
system. On January 2 .19”8, the system
for the processing of reports and
inquiries became fully^operational. 1
In order to monitor the effectiveness
of the section and the system designed
to carry cut the Program, the
Commission determined that the
Program should be instituted initially on
a pilot basis, through December 31.1978.
On July 31,1978. the Commission
issued Release No. 34-15015, soliciting
public comments concerning the
operation of the Program and
announcing its intention to engage in
proposed rulemaking.3
section were necessary at this time.
Therefore, ihe Commission herein
adopts, effective July 1,1979. the
proposed amendments to the section
and modifications to the Program, as
discussed below.
In s titu tio n s S u b je c t to
§ 2 4 0 .1 7 f - l
The Commission proposed, in Release
No. 34-15633. a technical amendment to
5 24Q.17f-l, making explicit the
requirement that all reporting
institutions, as defined in Section
17(f)(1) of the Act (with two exceptions
discussed below), register with the
Commission or its designee.7Although
this provision was an integral part of the
Program, it %vas not previously included
in the section.3
Based on the comments received in
response to its solicitation release, ihe
Commission proposed that two classes
The Commission subsequently issued
of brokers and dealers with limited
a release which extended the pilot
program from December 31.1978. to June securities activity be exempted from the
30.1979, announced the redesignation of proposed registration provisions of the
Program. Specifically, the Commission
SIC, and required certain institutions
proposed an exemption for (a) brokers
subject to § 24Q.17f-l to register with
and dealers whose only business is
SIC for the remainder, of the pilot
conducted on the floor of a national
period.5
securities exchange and who do not
After analyzing approximately 120
conduct a public business, and (b)
comment letters submitted by members
brokers and dealers whose business is
of the public in response to its
limited to sales of variable contracts or
solicitation release, the Commission, in
limited partnerships and who do net
Release No. 34-15683. issued for public
hold or receive securities subject to the
comment certain proposed amendments
to the section and other modifications to reporting and inquiry provisions of the
section.
the Program.
Two comment letters received in
The Commission received 34
response
to the Commission’s proposed
additional letters commenting on the
exemption from registration suggested
proposed amendments and
that an exemption also be provided for
modifications, and analysis of these
brokers and dealers whose business
comment letters indicated that no
consists only of the sale of mutual funds
further substantive changes to the
and who do not hold or receive
securities. Under the proposed
J Securities Exchange Act Release No. 13832. 42
amendment. § 240.17f-l would contain
FR 41022 (August 12.1977). hereinafter cited as
"R elease No. 34-13832."
an exemption from registration only for
‘The Commission determ ined that it would be
institutions whose business relates to
appropriate to designate another person, as
securities which are not in definitive
perm itted by the statute, to receive and process
form. Mutual fund shares may be
reports and inquiries m ade pursuant to the section
on behalf of the Commission. Accordingly, the
certificated, and having analyzed the
Commission solicited plans from persons interested
potential risk of this additional
in acting as the Com m ission's designee and. after
exemption if it is permitted and
analysis of the subm issions, designated Securities
assessed the countervailing burden on
Information Center. Inc. (“SIC"!, of W ellesley Hills,
M assachusetts, to m aintain and operate the data
base of missing, lo st counterfeit or stolen securities
on its benaif. through the pilot period ending
December 31.1978. Securities Exchange Act Release
No. 1353a 42 FR 2S495 (May 1 2 .1977). The
designation w as extended for a two-year term, to
end December 31. 1980. after a resoiicitation of
plans and analysis of the subm issions received.
Securities Exchange Act Release No. 15239. 43 FR
52413 (Novem ber 9. 19781, hereinafter referred to as
Release No. 34-15289."
1T hereafter, in response to num erous requests for
additional time in which to submit com m ents, the
Commission extended the close of the comment
period from Septem ber a 1978. to O ctober 15. 1978.
Securities Exchange Act Release No. 15159. 43 FR
43035 (Septem ber 22. 1978).
4Release No. 34-15289.
’ Paragraph (a) of the rule, which tracks the
language of Section 17(f)(1) of the A c t defines a
"reporting institution" to include "every national
securities exchange, member thereof, registered
securities association, broker, dealer, municipal
securities dealer, registered transfer ag en t
registered clearing agency, participant therein,
m ember of the Federal Reserve System and bank
whose deposits are insured by :he Federal Deposit
Insurance Corporation."
' Some institutions argued that since there w as no
provision in the section requiring registration wtth
SIC. it w as possible to forego registration and. as a
re su lt be free from the requirem ents of the section.
The section has been am ended to em phasize the
Com m ission’s view that registrauon is and alw ays
has Peen required of all reporting institutions.
Federal Register / Vol. 44, No. 106 / Thursday,vMay 31, 1979 / Rules and Regulations
the securities and banking industries if it
is not. the Commission has determined
to withhold the exemption at this time.
The Commission will continue to
monitor the operation.of this aspect of
the Program to determine whether
additional amendments at a future date
are appropriate.
Accordingly, the Commission has
adopted an amendment to § 240.17f-l
which incorporates the registration
requirements and provides exemptions
for brokers and dealers engaged solely
in the sale of variable contracts or
limited partnerships and for floor
traders, floor brokers, and specialists
who do not conduct a public business
but effect transactions only for their
own account or those of other
members.910*
S e c u ritie s E n c o m p a s s e d b y
§ 2 4 0 .1 7 f - l
In Securities Exchange Act Release
No. 13280,10 the Commission announced
that to ease implementation of the
Program and to concentrate on the most
widely traded securities, corporate and
municipal issues not assigned CUSIP
numbers and bond coupons would be
exempt from required reporting and
inquiry for the duration of the pilot
period (the “non-CUSIP exemption").11
The Commission recognized that the
Program's purposes would be best
served if its focus were on those
securities which were commonly held by
the investing public, most readily
negotiable, and most often subject to
loss, theft or counterfeiting. The CUSIP
system offered a pre-existing,
convenient and efficient method for
concentrating on the securities most
appropriate for inclusion in the
Program.13
’ T hese brokers and dealers would continue to be
"reporting institutions" under the section, as defined
supra.
1042 FR 11829 (March 1.1977), hereinafter cited as
"Release No. 34-13280."
11 If a reporting institution is unable to determ ine
w hether a securities issue has a CUSIP num ber after
having exam ined the face of the certificate and
consulted a CUSIP directory, the institution should
contact SIC and request a "CUSIP look up."
'’ The CUSIP system utilizes such factors as
w hether a security is traded on a national securities
exchange. listed in the N ational Q uotation Bureau's
"pink sheets," traded on a national basis or is of
general interest to determ ine w hether a CUSIP
num ber should be assigned. Approxim ately
1.200.000 securities issues are currently assigned
CUSIP numbers. Non-CUSIP securities tend to be
those that are of “local interest" or are short term
commercial paper or m oney-m arket instrum ents
such as certificates of d ep o sit among others. In
addition, non-certificated securities are not assigned
CUSIP num bers. It is worthy of note, however, that
even though a securities issue may be initially of
"local in te re st" it may subsequently be assigned a
CUSIP num ber due to increased investor in te re st or
trading or listing on an exchange. Consequently, in
most instances, there is a correlation betw een the
lack of an assigned CUSIP num ber and the lack of a
general m arket for the particular security.
The majority of the comments
received by the Commission in response
to its original solicitation release and
Release No. 34-15683 urged that the nonCUSIP and bond exemptions be made
permanent. Accordingly, the
Commission has determined that those
temporary pilot period exemptions be
incorporated into § 240.17f-l.13
C re a tio n o f a C e n tr a l D a t a B a se
With respect to the question of
whether the framework of dual
appropriate instrumentalities provided
by the section should be retained or
whether a central data base would be .
preferable, the overwhelming majority
of the comments received supported the
proposed merger of the SIC and the
Federal Reserve Banks' ("FRB”) data
bases. In view of these comments and
the systemic difficulties inherent in a
system of separate, non-parallel
processing facilities, the Commission
has adopted an amendment to
paragraph (a) of § 240.17f-l which
deletes the definition of the term
“appropriate instrumentality" and
makes other conforming, technical
amendments, the effect of which i3 to
create a central data base.
As discussed in Release No. 34-15683,
SIC has been redesignated by the
Commission to operate the data base for
a two-year term ending December 31,
1980, and will, therefore, assimilate the
reports already in the FRB data base.14It
is expected that the merger of data
bases will be completed by July 1,1979.
Form X - 1 7 F - 1 A
Paragraph (c)(6) of § 240.17f-l
requires that all reports made pursuant
to this section be submitted on SEC
Form X-17F-1A.
In Release No. 34-15683, several
modifications to the reporting form were
proposed for public comment.15 Since
1J Although bond coupons rem ain exem pt from
the reporting and inquiry requirem ents of the
Program, the Commission urges all instutitions to
take appropriate steps to validate the legitim acy of
ow nership of coupons presented for paym ent under
suspicious circum stances. In this regard, where
coupons have the sam e serial num ber as the bond to
which they are attached, an inquiry on the serial
num ber may. in such circum stances, alert a
reporting institution to a previously reported bond.
Following the merger o f the SIC and FRB data
bases, reporting institutions making inquiry of the
System concerning U.S. Governm ent or Agency
securities should follow the sam e procedures as
those utilized for inquiry w ith respect to corporate
securities used prior to the merger. In the case of a
match betw een an inquiry m ade by a reporting
institution and a report subm itted by the FRB on
behalf of the U.S. Treasury, the inquiring reporting
institution will be informed of the m atch and
advised by SIC to contact the appropriate Branch of
the FRB which reported the loss.
“ The proposals included modifying Form X-17F1A to include a designation of the specific type of
31501
the publication of that release, SIC has
suggested several technical
modification, primarily in terms of
format, which would facilitate the use of
the form by reporting institutions and
encourage its use by transfer agents as a
uniform stop transfer report. SIC has
asked that the box labeled "Designee's
Use Only" and item 2. “Confirmation."
be removed as they are not utilized by
SIC or reporting institutions. It is also no
longer necessary to write "Bearer” on
line 11, but merely to check the box
provided where appropriate.
In response to two other comments,
the “Issue Date" has been relocated so
that a particular certificate may be
further identified by its specific date of
issue. The box for "Criminality
Indicated” has been relocated so that it
is next to the boxes of those agencies
which will receive copies of reports
when criminality is indicated.
So that SIC can determine the specific
information which requires correction
following receipt of a corrected report,
the procedure for submitting a corrected
report has been modifed. Reporting
institutions should now attach a copy of
the original report to a new corrected or
updated report.
A final comment evidenced that some
confusion on the part of reporting
institutions remains with respect to the
inclusion of alphabetical prefixes or
suffixes, with certificate numbers when
making reports. Section 240.17f-l
requires their inclusion whenever
available. SIC computer software,
however, is capable of searching the
data base without prefixes or suffixes.
Accordingly, if a reporting institution is
unable to determine the prefix or suffix
of a subject security, it should,
nevertheless, proceed with the report. In
this case, a report and inquiry may
match although, in fact, it may not be a
true match because the certificates have
different prefixes or suffixes.16
In conclusion. Form X-17F-1A has
been amended to include the proposals
contained in Release No. 34-15683 and
the additional modifications discussed
above. Section 249.1200. which provides
for the use of Form X-17F-1A, has been
loss reported, the telephone num ber of the reporting
institution, the nam es and addresses of transfer or
paying agents and insurance com panies to which
copies of the report are s e n t and the particular
types of securities which are subject to reporting.
“ Of course, institutions filing reports in these
circum stances should diligently search for the
unknown prefixes or suffixes and subm it an update
on Form X-17F-1A with the inform ation to SIC as
quickly as possible after discovery. Inasm uch as
SIC operational personnel com pare prefixes or
suffixes included on Form X-17F-1A with those
given in an inquiry when the prefixes and suffixes
are avaiiabie to determ ine if a match occurs,
inclusion of prefixes and suffixes in reports and
inquiries will elim inate this problem.
31502
Federal Register / Vol. 44, No. 106 / Thursday. May 31, 1979 / Rules and Regulations
modified to conform to the amended
version of § 240.17f-l.
Exemptions From inquiry'
A . T ra n sfe r A g e n t E x e m p tio n
During the pilot program, registered
transfer agents were exempt from the
inquiry provisions of § 240.17f-l. The
overwhelming majority of the comments
received by the Commission urged that
this temporary exemption be continued
and incorporated into the section.
Since a transfer agent will not effect
registration of a transfer unless it is
satisfied from its own records and a
review of its stops that the particular
transfer is in all respects proper,
requiring a transfer agent to inquire of
the data base maintained by the
Commission designee would be
duplicative in most instances.17*
Accordingly, the Commission has
adopted an amendment which
incorporates the transfer agent
exemption into this section.15
B. T he D e M in im u s E x e m p tio n
During the pilot program, exemption
from required inquiry was provided for
securities transactions valued at S10.000
or less (the "de m in im u s exemption”). In
an interpretive letter, the staff of the
Commission stated that a reporting
institution must view a securities
transaction in its entirety and not on a
piecemeal basis when determining
whether the exemption is applicable.1*
The great majority of the comment
letters responding to Release Nos. 3415015 and 34-15683 recommended
continuance of the exemption and the
staff interpretation. In view of the
comments received and its belief that
the use of a d e m in im u s exemption
contributes to an efficient and cost"Section 240.17f-l requires reporting institutions
to subm it a copy of Form X-X7F-1A to a transfer
agent for the issue w henever a report of loss is
m ade to S IC The section has also been am ended to
require a report to a transfer agent w ithin one
business day after discovery of a counterfeit
security.
“O ne com m entator requested that the
Commission clarify the reporting requirem ents
applicable to registered transfer agents. As
previously stated in Release No. 34—13832, a transfer
agent w hich receives from a reporting institution a
copy of Form X-17F-1A concerning lost or stolen
securities is not required to m ake a report. B ut
w hen a securities loss is reported to the transfer
agent by a non-reporting entity such as an
individual, the transfer agent is required to make a
report of the loss to SIC within the apprrortate time
fram es stated in the section.
‘•Letter to La Salle N ational Bank, dated
D ecem ber 7,1977. For exam ple, w nere four $5,000
bonds are used as collateral for a single loan, the
total transaction exceeds S10.000. and the de
mtiumus exem ption from inquiry m ay not be
claim ed. If each certificate w ere analyzed with
respect to the exem ption s applicabdity. relatively
few transactions would require inquiry.
effective system, the Commission has
adopted an amendment to the section
which incorporates the d e m in im u s
exemption, as modified by the staff
interpretation.
C. B e a re r S e c u r itie s S o ld to a C u sto m e r
The Commission did not receive any
additional comments on the proposal to
create an exemption from inquiry in the
case of bearer securities where the
reporting institution taking such
securities into its possession or keeping
“knows its customer” and can verify
through its own internal records that it
previously sold the securities offered to
the person presenting them.20
Based on the comment letters, which
indicate that the proposed exemption
has the overwhelming support of the
securities and banking industries, the
Commission has adopted an amendment
incorporating the exemption into the
section.
D. E x e m p tio n U pon R e c e ip t o f
S e c u r itie s fro m a C e r tific a te D ro p o r a
F e d e ra l R e s e r v e B a n k o r B ran ch
Old paragraph(c)(l) of the section
provided an exemption from inquiry for
securities received from another
reporting institution or from a Federal
Reserve Bank or Branch in its capacity
as fiscal agent. The Commission has
adopted new paragraph(d)(l) of the
section extending this exemption from
inquiry to those instances where the
securities are received from an
institution which is affiliated with a
reporting institution and acts as a
“certificate drop” 21 or from a Federal
Reserve Bank or Branch in any
capacity.22
“ A reporting institution coining into possession
or keeping of a bearer certificate in these
circumstances would be expected to verify this fact
by an examination of prior confirmations of
securities transactions issued to the customer,
delivery receipts, or other relevant internal records
which would document to the satisfaction of the
firm, that the bearer security is legitimately held by
the customer.
•T h e staff had previously taken this position in
an interpretive letter to First N ational Bank of
Boston, dated January 12.1978.
“ The staff h ad already taken the position that
securities received from the Federal Reserve Bank
or Branch in its capacity as safekeeping agent w ere
covered by the exem ption in a letter to 3ankers
Trust C o . dated M arch 21. 1978. Regardless of the
capacity in which it acts, in m ost instances, a
Federal Reserve Bank or Branch receives securities
from m em ber banks or other reporting institutions
under the section. Accordingly, inquiry will have
previously been m ade on the subject securities
w here required. It is only in rare circum stances that
securities are received by a Federal Reserve Bank
or Branch from a nonreporting institution. In such
cases, the Federal Reserve Bank or Branch attem pts
to validate the authenticity of the certificate through
SIC and otherwise.
Direct/Indirect Inquiry
In connection with the election of
participation status as either a direct or
an indirect inquirer on the registration
form required to befiled with SIC. 23 the
Commission has adopted an amendment
to the section requiring ail reporting
institutions to maintain as part of the
recordkeeping requirements of
paragraph (g) of the section copies of
agreements which designate one
institution as a direct inquirer for the
processing of inquiries on behalf of an
indirect inquirer.24 In addition the
Commission urges each direct inquirer
to share with its indirect inquirers all
information obtained in response to
inquiries made on their behalf,
particularly information concerning hits.
Section 240.17a-3, which incorporates
the general recordkeeping provisions of
§ 240.17f-l. also has been amended by
the Commission to conform to the
language of the amended version of
§ 240.17f-l.
Miscellaneous Comments
Several new comment letters have
been received arguing that the staffs
interpretation with respect to the
appropriate party to report losses when
securities are delivered “over the
window” 23 is contrary to normal
business practice. In view of these
comments, the Commission emphasizes
that this staff interpretation oniy
provides clarity as to which reporting
institution has the obligation to report
losses and does not affect industry
practice. The Commission believes that
the section, as written, is equitable in
most instances and that the certainty it
provides justifies its continuation.
Accordingly, the Commission had not
revised this interpretation.
A final commentator requested a
thirty-day extension of the comment
period. In order to avoid a lapse in the
Program’s service, it is necessary that
the final, amended version of the
Program take effect on July 1.1979.
a A few com m entators stated that tbev preferred
to register with SIC as indirect inquirers but w ere
unable to locate a reporting institution willing to act
on thair behalf as a direct inquirer. The Commission
has discussed this problem with SIC and. in
response. SIC is investigating the possibility of
compiling for circulation a list of direct inquirers
available to m ake reports and inquiries on behaif of
indirect inquirers.
!<O f course, an indirect inquirer should not
designate another reporting institution as its direct
inquirer prior to reaching such an agreem ent with
that institution.
a A staff interpretation discussed in Release No.
34-15683 stated that a copy of a delivery bill
stam ped by a receiving reporting institution
"Received Subject to Count and Examination"" and
returned to the delivering institution is a "receipt"
under the section and thereby obligates the
receiving institution to m ake a report of loss.
Federal Register / Vol. 44, No. 106 / Thursday, May 31. 1979 / Rules and Regulations
31503
(2)
Missing or lost securities. Every
reporting institution shall report to the
Commission or its designee and to a
registered transfer agent for the issue
Registration
the discovery of the loss of any security
All reporting institutions registered as
where criminal actions are not
direct inquirers must reregister with the
suspected when the security has been
Commission’s designee by July IS, 1979,
missing or lost for a period of two
2.
Pursuant to sections 2 ,17(f), and 23 business days. Such report shall be
by completing the registration form
of the Securities Exchange Act of 1934.
attached as an appendix to this release.
made within one business day of the
the Securities and Exchange
The effective date of the new
end of such period except that:
Commission revises § 240.17f-l in
registration form will relate back to July
(i) Securities lost in transit to
1,1979, the end of the pilot period. Those Chapter II of Title 17 of the Code of
customers, transfer agents, banks,
Federal Regulations to read a3 follows:
institutions that wish to change their
borkers or dealers shall be reported by
status in the Program to participate as
the delivering institutions no later than
§ 240.171-1 Requirements for reporting
direct or indirect inquirers after July 1,
two business days after notice of nonand inquiry with respect to missing, lost,
1979, will have the opportunity to do so
receipt or as soon after such notice as
counterfeit or stolen securities.
on a semi-annual basis.27
the certificate numbers of the securities
(a) Definition—Reporting institution.
can be ascertained.
Statutory Basis and Competitive
For purposes of this section, the term
(ii) Securities considered lost or
Considerations
"reporting institution" shall include
missing as result of securities counts or
every
national
securities
exchange,
The Commission acting pursuant to
verifications required by rule, regulation
member thereof, registered securities
sections 2 ,17(a), 17(f) and 23 of the
or otherwise (e.g., dividend record date
association,
broker,
dealer,
municipal
Securities Exchange Act of 1934, hereby
verification made as a result of firm
securities dealer, registered transfer
adopts amendments to § 240.17f-l and
policy or internal audit function report)
agent,
registered
clearing
agency,
§ 240.17a-3, and modifications to the
shall be reported no later than ten
participant therein, member of the
Lost and Stolen Securities Program and
business days after completion of such
Federal
Reserve
System
and
bank
to Form X-17F-1A and § 249.1200 as set
securities count or verification or as
whose deposits are insured by the
forth below.
soon after such count or verification as
Federal
Deposit
Insurance
Corporation.
The amendments to § 240.17a-3 and
the certificate numbers of the securities
(b) Every reporting institution shall
the adopted modifications to Form Xcan be ascertained.
register with the Commission or its
17F-1A and § 249.1200 are technical and
(iii) Securities not received during the
designee in accordance with
non-substantive and, therefore, the
completion
of a delivery, deposit or
instructions issued by the Commission
Commission finds that notice and public
withdrawal shall be reported in the
except
procedure under the Administrative
following manner:
Procedure Act [5 U.S.C. 553(b)(B)] are
(1) A member of a national securities
(A) Where delivery' of securities is
impracticable, unnecessary, or contrary
exchange who effects securities
through
clearing agency, the delivering
to the public interest, and that good
transactions exclusively on the floor of
institution shall supply the receiving
cause exists for making the
such national securites exchange soiely
institution the certificate number of the
modifications effective July 1,1979.
for other members and does not receive
security within two business days from
of hold customer securities: and
the date of request from the receiving
PART 240— G EN ERA L RU LES AND
(2) A registered broker or dealer who
institution. The receiving institution
REGULATIONS, SECU R ITIES
is engaged exclusively in the sale of
shall report within one business day of
EXCHANGE ACT OF 1334
variable contracts and/or limited
notification of the certificate number:
partnership interests and does not
1. Pursuant to Section 17(f) of the
(B) Where the delivery of securities is
receive or hold securities that are
Securities Exchange Act of 1934, the
over the window and where the
subject to the provisions of paragraphs
Securities and Exchange Commission
delivering institution has a receipt, the
(c) and (d) herein.
amends paragraph (a)(14) in § 240.17a-3
delivering institution shall supply the
in Chapter II of Title 17 of the Code of
(c) Reporting requirements—(1) Stolen receiving institution the certificate
Federal Regulations as follows:
Securities, (i) Every reporting institution
numbers of the securities within two
shall report to the Commission or its
business days from the date of request
§ 240.17a-3 Records to ba made by
designee and to a registered transfer
from the receiving institution. The
certain exchange members, brokers and
agent for the issue the discovery of the
receiving-institution shall report within
dealers.
theft or loss of any security where there
one business day of notification of the
(a) * * *
is substantial basis for believing that
certificate num ber
(14) Copies of all Forms X-17F-1A
criminal activity was involved. Such
(C) Where the delivery of securities is
filed pursuant to § 240.17f-l, all*57
report shall be made within one
over the window and where the
business day of the discovery and. if the
delivering institution has no receipt, the
!‘ The issues raised by this commentator,
certificate numbers of the securities
however, have been considered and the
delivering institution shall report within
Commission will continue to review any
cannot be ascertained at that time, they
two business days of notification of non
constructive comments which it reclives in the
shall be reported as soon thereafter as
receipt by the receiving institution: or
future. The Commission also intends to continue to
possible.
(D) Where delivery of securities is
monitor the Program to determine whether any
future modifications are necessary.
(ii)
Every reporting institution shall
made by mail or via draft if payment is
57Reporting institutions already registered as
promptly report to the appropriate law
not received within ten business days,
direct inquirers for 1979 will not be charged another
enforcement agency upon the discovery
the delivering institution shall confirm
annual fee when they reregister for the penod
of the theft or loss of any security where
with the receiving institution the failure
beginning July 1 , 1979. Refer to Release Nos. 34there is substantial basis for believing
13832 and 34-15289 for information with respect to
to receive such delivery: if confirmation
registration and fee schedules.
that criminal activity was involved.
shows non-receipt, the delivering
Therefore, the Commission has not
granted an extension of the comment
period.24
agreements between reporting
institutions regarding registration or
other aspects of § 240.17f-l. and all
confirmations or other information
received from the Commission or its
designee as a result of inquiry.
»
#
*
*
*
31504
Federal Register / Vol. t4. No. 106 / Thursday. May 31, 1979 / Rules and Regulations
institution shall report within two
business days of such confirmation.
(3) Counterfeit securities. Every
reporting institution shall report the
discovery of any counterfeit security to
the Commission or its designee, to a
registered transfer agent for the issue,
and to the appropriate law enforcement
agency within one business day of such
discovery.
(4) Recovery. Every reporting
institution snail report the recovery or
Finding of any security previously
reported missing, lost, or stolen pursuant
to this section to the Commission or its
designee and tp a registered transfer
agent for the issue within one business
day of such recovery or finding. If a
report of stolen securities was made to
the appropriate law enforcement
agency, a report of such recovery shall
also be made to such agency. Recovery
may only be reported by the institution
which reported the security as missing,
lost or stolen.
i 5j Information to be reported. All
reports made pursuant to this section
shall include, if applicable or available,
the following information with respect
to each security:
(i) Issuer
fii) Type of security and series:
(iii) Date of issue:
(iv) Maturity date:
(v) Denomination:
(vi) Interest rate:
(vii) Certificate number, including
alphabetical prefix or suffix:
(viii) Distinguishing characteristics, if
counterfeit:
(ix) Date of discovery of loss or
recovery:
(x) CUSIP num ber and
(xi) FINS number.
(6)
Forms. All reports made pursuant
to this section shall be made on Form X17F-1A.
(d)
Required inquiries. (1) Every
reporting institution except a registered
transfer agent shall inquire of the
Commission or its designee with respect
to every security which comes into its
possession or keeping, whether by
pledge, transfer, or otherwise, to
ascertain whether such security has
been reported as missing, lost,
counterfeit, or stolen, unless
(i) The security is received directly
from the issuer or issuing agent at
issuance:
t
(ii) The security is received from
another reporting institution or from a
Federal Reserve Bank or Branch:
(iii) The security is received from a
customer of the reporting institution and
(A)
is registered in the name of such
customer or its nominee or
(B)
was previously sold to sucii
customer, as verified by the internal
records of the reporting institution:
(iv) The security is part of a
transaction which has an aggregate face
value of 510,000 or less in the case of
bonds or market value of S10.000 or less
in the case of stocks: or
(v) The security is received directly
from a drop which is affiliated with a
reporting institution for the purposes of
receiving and delivering certificates on
^behalf of the reporting institution.
(2)
Form of Inquiry. Inquiries shall be
made in such manner as prescribed by
the Commission or its designee.
(e) Permissive reports and inquiries.
Every reporting institution may report to
or inquire of the Commission or its
designee with respect to any security
not otherwise required by this section to
be the subject of a report or inquiry. The
Commission on written request or upon
its own motion may permit reports to
and inquiries of the system by any other
person or entity upon such terms and
conditions as it deems appropriate and
necessary in the public interest and for
the protection of investors.
(f) Exemptions. The following types of
securities are not subject to paragraphs
(c) and (d), above:
(1) Registered securities of the United
States Government, any agency or
instrumentality of the United States
Government, the International Bank for
Reconstruction and Development, the
Inter-American Development Bank, or
the Asian Development Bank, and
counterfeit securities of such entities:
(2) Security issues not assigned CUSIP
numbers:
(3) Bond coupons.
(g) Recordkeeping. Every reporting
institution shall maintain and preserve
in an easily accessible place for three
years copies of ail Forms X-17F-1A filed
pursuant to this section, all agreements
between reporting institutions regarding
registration or other aspects of this
section, and ail confirmations or other
information received from the
Commission or its designee as a result
of inquiry.
PART 249— FORMS, SEC U R ITIES
EXCHANGE A CT OF 1934
3.
The Securities and Exchange
Commission, pursuant to Section 17(f) of
the Securities Exchange Act of 1934,
adopts modifications to Form X-17F-1A.
§ 249.1200 in Chapter II of Title 17 of the
Code of Federal Regulations, as
appended hereto, and amends § 249.1200
as set forth below:
§ 249.12C0 Form X-17F-1A—Reoort for
missing, lost, stolen or counterfeit
securities.
This form is io be filed with the
Commission or its designee pursuant to
paragraph (c) of § 240.17f-l of this
chapter bv all reporting institutions
subject to Section 17(fj(l) of the
Securities Exchange Act of 1934.
3y the Commission.
George A. Fitzsimmons.
Secretary.
May 23. 1973.
Note.— The following appendix will not
appear in the Code of Federal Regulations.
APPENDIX
(P le a s e photocopy t h i s
form,
com p lete,
and s u b m i t t o S I C . )
1 9 7 9 R e g i s t r a t i o n Form
L o s t and S t o l e n S e c u r i t i e s P r ogr am
In stru ction s
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:
S e c u r i t i e s Inform ation C enter,
P o s t O f f i c e Box 4 2 1
W e lle sle y H i l l s , M assachusetts
The d e a d l i n e
for f i l i n g
th is
Inc.
02181
fo r m i s J u l y
15,
1979.
WHO SHOULD USE THIS FORM - T h i s form s h o u l d be c o m p l e t e d
and f i l e d by a l l i n s t i t u t i o n s s u b j e c t t o R u l e 1 7 f - l (17 CFR
§ 2 4 0 . 1 7 f - l ) 1 / w h ic h a r e n o t exem pt from t h e r e g i s t r a t i o n
p r o v i s i o n s o f t h e r u l e 2 / and
(1)
(2)
(3)
Who h a v e NOT s u b m i t t e d a r e g i s t r a t i o n fo r m f o r
t h e L o s t and S t o l e n S e c u r i t i e s Pr o g r a m t o
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 n c . , OR
Who h a v e s u b m i t t e d a r e g i s t r a t i o n f o r m f o r t h e
L o s t and S t o l e n S e c u r i t i e s P r o g r a m t o 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 n c . and r e g i s t e r e d a s a
DIRECT INQUIRER, OR
Who h a v e s u b m i t t e d a r e g i s t r a t i o n f o r m f o r t h e
L o s t and S t o l e n S e c u r i t i e s P r o g r a m t o 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 n c . , and r e g i s t e r e d a s an
INDIRECT INQUIRER AND d e s i r e t o amend t h e i r p r i o r
r e g i s t r a t i o n fo r m t o e i t h e r u p d a t e t h e
i n f o r m a t i o n s u b m i t t e d OR c h a n g e t h e i r i n q u i r y
p articip a tio n sta tu s.
1/
The i n s t i t u t i o n s s u b j e c t t o R u l e 1 7 f - l a r e a s f o l l o w s :
e v e r y n a t i o n a l s e c u r i t i e s e x c h a n g e , member t h e r e o f ,
reg iste r ed s e c u r itie s a s so c ia tio n , broker, d ea ler,
m u nicipal s e c u r i t i e s d e a le r , r e g is t e r e d tr a n s fe r
agent, r e g is te r e d clea r in g agency, p a r tic ip a n t
t h e r e i n , member o f t h e F e d e r a l R e s e r v e S y s t e m and ba n k
w h o s e d e p o s i t s a r e i n s u r e d by t h e F e d e r a l D e p o s i t
Insurance C orporation.
2/
B r o k e r s and d e a l e r s w h o s e o n l y b u s i n e s s i s c o n d u c t e d
on a n a t i o n a l s e c u r i t i e s e x c h a n g e and who do n o t
c o n d u c t a p u b l i c b u s i n e s s , and b r o k e r s and d e a l e r s who
l i m i t t h e i r b u s in e s s to s a l e s o f v a r ia b le c o n t r a c t s or
1 i m i t e d ' p a r t n e r s h i p , a r e exem pt from t h e r e g i s t r a t i o n
p r o v i s i o n s o f Rule 1 7 f - l .
WHO SHOULD NOT USE THIS FORM - I n s t i t u t i o n s s h o u l d NOT
c o m p l e t e o r f i l e t h i s fo r m i f t h e y h a v e p r e v i o u s l y
r e g i s t e r e d a s an INDIRECT INQUIRER i n t h e L o s t and S t o l e n
S e c u r i t i e s P r o g r a m by s u b m i s s i o n o f a r e g i s t r a t i o n fo r m t o
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 n c . AND t h e d a t a s u b m i t t e d
t h e r e o n i s c u r r e n t AND t h e y d o n o t d e s i r e t o c h a n g e t h e i r
inq uiry p a r t ic ip a t io n s t a t u s .
I f an i n s t i t u t i o n d o e s n o t
su b m it t h i s form, th e p r i o r e l e c t i o n o f i n q u i r y
p a r t i c i p a t i o n s t a t u s w i l l c o n t i n u e and be b i n d i n g t h r o u g h
June 30, 1979.
PART I
A.
Name o f
In stitu tio n
M ailin g Address
Z i p Code
FINS I d e n t i f i c a t i o n
No.
3/
Name, T i t l e , and T e l e p h o n e
Of P e r s o n t o Whom B i l l s
S h o u l d Be D i r e c t e d :
'
(
)
(
)
Name, T i t l e - and T e l e p h o n e
o f Person R e sp o n sib le
for I n s t it u t io n 's
C o m pliance w i t h Rule
1 7 f-l (if d ifferen t
fr o m a b o v e ) :
-
3/
FINS ( " F i n a n c i a l I n d u s t r y Number S t a n d a r d " ) nu mbe rs
a r e c o m p i l e d i n t h e 1 9 7 6 FINS D i r e c t o r y ( F i r s t
E d i t i o n ) , p u b l i s h e d by t h e D e p o s i t o r y T r u s t Company.
I f an i n s t i t u t i o n i s u n c e r t a i n a s t o w h e t h e r i t h a s a
FINS n u m b e r , i t s h o u l d c o n s u l t t h i s D i r e c t o r y , i t s
s e l f - r e g u l a t o r y o r g a n iz a tio n , i t s trade a s s o c i a t i o n ,
o r SEC p e r s o n n e l a t 2 0 2 - 3 7 6 - 8 1 2 9 .
I f an i n s t i t u t i o n
h a s n o t b e e n a s s i g n e d a FINS n u m b e r , a number may be
o b t a i n e d a t no c o s t by w r i t i n g t h e D e p o s i t o r y T r u s t
Company, A t t e n t i o n :
FINS P u b l i c a t i o n , 55 W a t e r
S t r e e t , New Y o r k , New Y ork
10041.
B.
Type o f I n s t i t u t i o n - C h e c k a l l c l a s s i f i c a t i o n s
below t h a t d e s c r i b e th e i n s t i t u t i o n . 4 /
(
(
(
(
(
(
(
(
(
(
(
(
(
listed
F e d e r a l R e s e r v e S y s t e m member.
Bank w h o s e d e p o s i t s a r e i n s u r e d by t h e
F ederal D ep o sit Insurance C orporation.
N
a tio n a l S e c u r i t i e s Exchange.
3.
)
N
a
t i o n a l S e c u r i t i e s E x c h a n g e member.
4
.
)
N
a
t i o n a l S e c u r i t i e s E x c h a n g e member f i r m .
5
.
)
R
e
g
istered S e c u r it ie s A ss o c ia tio n .
6
.
)
R
e
g
i s t e r e d S e c u r i t i e s A s s o c i a t i o n member.
7
.
)
S
e
c
u
r itie s broker.
8
.
)
S
e
c
u
r itie s d ea ler.
9.
)
M
u
n
i
c
ipal s e c u r i t i e s d e a l e r .
) 10.
R
e
g
i
s
t
ered tr a n sfe r agent.
) 11. •
R
e
g
i
s
t
ered c lea r in g agency.
) 12.
P
a
r
t
i
c
i p a n t in a r e g i s t e r e d c l e a r i n g agency
) 13.
1.
2.
)
)
S i ze o f I n s t i t u t i o n - Check t h e l i n e b e lo w t h a t
d e s c r ib e s the s i z e o f the i n s t i t u t i o n .
1.
Bank s
(
(
(
2.
1 o r 2 o f B, a b o v e )
More t h a n $1 b i l l i o n i n d e p o s i t s
$500 m i l l i o n t o $1 b i l l i o n in d e p o s i t s
L ess than $500 m i l l i o n in d e p o s i t s
)
)
)
)
lin es
More t h a n $ 2 5 m i l l i o n i n a n n u a l r e v e n u e s
$5 m i l l i o n t o $ 2 5 m i l l i o n i n a n n u a l r e v e n u e s
$ 5 0 0 , 0 0 0 t o $5 m i l l i o n i n a n n u a l r e v e n u e s
L ess than $ 5 0 0 ,0 0 0 in annual r ev e n u es
N o n -B a n k T r a n s f e r A g e n t s ( t h o s e who c h e c k e d o n l y
c l a s s i f i c a t i o n 11 o f B, a b o v e )
(
(
4/
lin es
S e c u r i t i e s O r g a n i z a t i o n s ( t h o s e who c h e c k e d
3 t h r o u g h 10 o f B, a b o v e )
(
(
(
(
3.
)
)
)
( t h o s e who c h e c k e d
)
)
That is su e d
That is s u e d
year
1 0 0 , 0 0 0 s h a r e s o r more l a s t y e a r
l e s s than 1 0 0 ,0 0 0 s h a r e s l a s t
I f no c l a s s i f i c a t i o n d e s c r i b e s t h e i n s t i t u t i o n , t h e
i n s t i t u t i o n i s n o t s u b j e c t t o Rule 1 7 f - l .
If the
i n s t i t u t i o n d e s i r e s t o p a r t i c i p a t e i n t h e L o s t and
S t o l e n S e c u r i t i e s Pr ogr am a s a " p e r m i s s i v e i n q u i r e r , "
a s p e c i a l a p p l i c a t i o n m u s t be made t o t h e C o m m i s s i o n
p u r su a n t t o paragraph (e) o f Rule 1 7 f - l in a c c o r d a n c e
w ith th e i n s t r u c t i o n s g i v e n in S e c u r i t i e s Exchange Act
R e l e a s e No. 1 3 8 3 2 a t 42 FR 4 1 0 2 4 ( A u g u s t 1 2 , 1 9 7 7 ) .
PARTS I I
St I I I
Election of Inquiry Participation Status
To r e g i s t e r a s a DIRECT INQUIRER, c o m p l e t e P a r t I I
b elow .
To r e g i s t e r a s an INDIRECT INQUIRER, c o m p l e t e P a r t
I II below .
T his e l e c t i o n o f in q u ir y p a r t i c i p a t i o n s t a t u s
is bin din g u n t i l c a n c e lle d .
D i r e c t i n q u i r e r s w i l l be a b l e t o make i n q u i r i e s o f t h e
d a t a b a s e d i r e c t l y and w i l l be c h a r g e d u s a g e f e e s and
r e g i s t r a t i o n f e e s as d e s c r i b e d in th e A ppendix o f
S e c u r i t i e s E x c h a n g e A c t R e l e a s e N o. 1 5 2 8 9 .
In d irect
i n q u i r e r s w i l l NOT be a b l e t o make i n q u i r i e s d i r e c t l y and
s o m u s t make a r r a n g e m e n t s w i t h a r e g i s t e r e d d i r e c t i n q u i r e r
t o i n q u i r e on i t s b e h a l f . I n d i r e c t i n q u i r e r s w i l l NOT be
c h a r g e d any f e e s by 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 n c . b u t
s h o u l d be a w a r e t h a t t h e i n s t i t u t i o n m a k i n g i n q u i r i e s on
t h e i r b e h a l f may a s s e s s c o s t s and s e r v i c e c h a r g e s .
(Indirect inquirers, however, should make reports of loss
d irectly).
PART I I
DIRECT INQUIRER
To r e g i s t e r a s a d i r e c t ' i n q u i r e r , p l e a s e c o m p l e t e
( B ) , and (C) b e l o w .
(A ),
A.
R e g i s t r a t i o n o f A c c e s s S t a t i o n s - I n d i c a t e t h e number
o f p r i m a r y and s e c o n d a r y a c c e s s s t a t i o n s t h e i n s t i t u t i o n
w i l l u s e t o make i n q u i r i e s o f t h e s y s t e m . 5 /
A ll
i n s t i t u t i o n s must ha v e a t l e a s t one p r im a r y a c c e s s s t a t i o n .
T h e r e i s an a n n u a l r e g i s t r a t i o n f e e o f $ 2 0 . 0 0 f o r e a c h
p r i m a r y a c c e s s s t a t i o n and $ 1 0 . 0 0 f o r e a c h s e c o n d a r y a c c e s s
sta tio n . 6/
NUMBER OF PRIMARY ACCESS STATIONS--------- -----------NUMBER OF SECONDARY ACCESS STATIONS----5/
A ccess s t a t i o n s are d e s c r ib e d in th e " D e s c r ip tio n o f
t h e System" i n c l u d e d in S e c u r i t i e s Exchange A c t R e l e a s e
No. 1 5 2 8 9 .
6/
I n s t it u t io n s e s t a b lis h in g secondary a ccess s ta tio n s
s h o u l d a p p e n d t o t h i s form a l i s t o f t h e t i t l e s ,
a d d r e s s e s , and names o f t h e r e s p o n s i b l e i n d i v i d u a l f o r
each secondary a c ce ss s t a t io n .
8.
O p t i o n a l Prompt W r i t t e n C o n f i r m a t i o n S e r v i c e I n d i c a t e w h e th e r th e i n s t i t u t i o n d e s i r e s prompt w r i t t e n
con firm ation s e r v ic e .
I f an i n s t i t u t i o n d e s i r e s t h i s
s e r v i c e , th e S e c u r i t i e s I n fo r m a tio n C e n te r , I n c . w i l l send
t h e i n s t i t u t i o n w r i t t e n c o n f i r m a t i o n s o f a l l i n q u i r i e s and
r e p o r t s r e c e i v e d by t e l e p h o n e , t e l e x , and m a i l o n a d a i l y
b a sis.
I f an i n s t i t u t i o n d o e s n o t d e s i r e t h i s s e r v i c e ,
c o n f i r m a t i o n s o f i n q u i r i e s w i l l be s e n t on a m o n t h l y b a s i s .
There i s a $ 2 0 .0 0 p er q u a r t e r ch a ry e fo r ea ch prim ary
a c c e s s s t a t i o n using t h i s s e r v i c e .
(
)
(
)
We do NOT d e s i r e pr o m p t w r i t t e n c o n f i r m a t i o n
serv ice.
.
We do d e s i r e p r o m p t w r i t t e n c o n f i r m a t i o n s e r v i c e
and a g r e e t o p a y t h e f e e f o r t h i s s e r v i c e .
C.
Agreem ent to Pay F e e s - A f t e r r e a d i n g
b e lo w , p l e a s e s i g n in th e s p a c e p r o v i d e d .
the s ta te m e n t
B e g i n n i n g J u l y 1 , 1 9 7 9 we w i l l p a r t i c i p a t e i n t h e
L o s t and S t o l e n S e c u r i t i e s Pr o g r a m a s a d i r e c t
in q u irer.
We a g r e e t o p a y S e c u r i t i e s I n f o r m a t i o n
C en ter, In c. the annual r e g i s t r a t i o n f e e o f $20.00
f o r e a c h p r i m a r y a c c e s s s t a t i o n and $ 1 0 . 0 0 f o r e a c h
Secondary A ccess S t a tio n .
We a l s o a g r e e t o p a y i n
advance q u a r t e r l y u sa g e f e e s , c h a r g es fo r o p t i o n a l
s e r v i c e s we r e q u e s t , and a l l s a l e s , u s e and e x c i s e
t a x e s , o r o t h e r t a x e s , w h i c h may be l e v i e d on o r i n
c o n n e c tio n w it h , th e f u r n is h in g o f th e f a c i l i t i e s or
s e r v ic e s o f the S e c u r it ie s Inform ation C enter, Inc.
We u n d e r s t a n d t h a t a l l f e e s a r e d u e and p a y a b l e w i t h i n
ten days o f d a te o f in v o ic in g .
(S ig n a tu re o f A uthorized
(T y p e o r P r i n t )
In stitu tio n a l
R ep resen tative)
(TITLE)
PART I I I
INDIRECT INQUIRER
To r e g i s t e r a s an i n d i r e c t i n q u i r e r , p l e a s e c o m p l e t e
t h e s t a t e m e n t b e l o w and s i g n i n t h e s p a c e p r o v i d e d .
B e g i n n i n g J u l y 1 , 1 9 7 9 we w i l l p a r t i c i p a t e
i n t h e L o s t and S t o l e n S e c u r i t i e s P r o g r a m a s an
in d ir e c t in q u irer.
We h a v e e n t e r e d i n t o an
a g r e e m e n t w i t h __________________________________________
who w i l l (Name o f R e g i s t e r e d D i r e c t I n q u i r e r )
make i n q u i r i e s on o u r b e h a l f and we h a v e a c o p y o f
t h i s a g r e e m e n t on f i l e a v a i l a b l e f o r i n s p e c t i o n .
We
a r e a w a r e t h a t we w i l l r e c e i v e no d i r e c t c o n f i r m a t i o n s
fr om 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 n c . , and t h a t t h e
i n s t i t u t i o n t h a t m ak es i n q u i r i e s f o r us may p a s s
th r o u g h t o us t h e c o s t s o f u s i n g t h e s y s t e m on our
b e h a lf as w e ll 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 .
(S ig n a tu re o f A uthorized
(Type o r P r i n t )
In stitu tio n a l
R ep resen tative)
(TITLE)
PART IV
and
ALL i n s t i t u t i o n s
(B) b e l o w .
filin g
th is
fo r m m u s t c o m p l e t e
(A)
A.
Agreement - After reading the statement below, please
sign in the space provided.
We u n d e r s t a n d t h a t o u r p a r t i c i p a t i o n i n t h e L o s t and
S t o l e n S e c u r i t i e s Prog ra m i s r e q u i r e d by R u l e
1 7 f - l (17 CFR § 2 4 0 . 1 7 f - l ) u n d e r t h e S e c u r i t i e s
E xch ange A ct o f 1 9 3 4 , as amended.
We a g r e e t h a t we
w i l l make r e p o r t s o f m i s s i n g , l o s t , c o u n t e r f e i t and
s t o l e n s e c u r i t i e s and make i n q u i r i e s r e l a t i v e t h e r e t o ,
i n a c c o r d a n c e w i t h R u l e 1 7 f - l and i n s t r u c t i o n s o f t h e
Com m ission o r i t s d e s i g n e e .
We u n d e r s t a n d t h a t t h e S e c u r i t i e s E x c h a n g e C o m m i s s i o n
has d e s ig n a t e d S e c u r i t i e s In fo r m a tio n C e n te r, In c . to
o p e r a t e t h e L o s t , M i s s i n g , S t o l e n , and C o u n t e r f e i t
S e c u r i t i e s In fo rm a tio n System .
S e c u r i t i e s Inform ation
C e n t e r , I n c . w i l l p e r f o r m i t s w ork i n a b u s i n e s s l i k e
manner and i n a c c o r d a n c e w i t h r e a s o n a b l e s t a n d a r d s o f
care.
I t does n o t , however, g u a ra n tee th e accu racy o f
any i n f o r m a t i o n c o n t a i n e d in t h e r e c o r d s o f th e System
or o f the r e s p o n se s to i n q u i r i e s co n cern in g m is s in g ,
l o s t , c o u n t e r f e i t , and s t o l e n s e c u r i t i e s f u r n i s h e d by
it.
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 n c . s h a l l n o t be
l i a b l e f o r any u n i n t e n t i o n a l d e l a y s , i n a c c u r a c i e s ,
e r r o r s o r o m i s s i o n s in s a i d r e s p o n s e s , o r f o r any
damages a r i s i n g t h e r e f r o m o r o c c a s i o n e d t h e r e b y , nor
w i l l i t be l i a b l e f o r n o n - p e r f o r m a n c e o r i n t e r r u p t i o n
o f s e r v i c e s due t o f i r e , s t o r m s , s t r i k e s , l a b o r
d i s p u t e s o r any c a u s e s beyond i t s c o n t r o l o r due t o
t h e a c t o r o m i s s i o n o f any o t h e r p e r s o n , f ir m o r
corp oration .
(Signature of Authorized Institutional Representative)
(Type or Print)
(TITLE)
B.
Names and S i g n a t u r e s o f P e r s o n s Making R e p o r t s on
B eh a lf o f the I n s t i t u t i o n - A ll r e p o r t s o f m is s in g , l o s t ,
c o u n t e r f e i t o r s t o l e n s e c u r i t i e s and a l l r e p o r t s o f
r e c o v e r i e s m u s t be s u b m i t t e d o n Form X - 1 7 F - 1 A and 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 i s o n f i l e w i t h S e c u r i t i e s
Inform ation C enter, In c.
A ll i n d i v i d u a l s having t h i s
a u t h o r i t y sh o u ld f i l l in th e s p a c e s below ( 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 l e t t e r h e a d i f n e c e s s a r y ) .
(Signature and Date)
(Signature and Date)
(Print or Type)
(TITLE)
(Print or Type)
MAIL THIS FORM TO:
S e c u r it ie s Inform ation C enter, Inc.
P o s t O f f i c e Box 4 2 1
W e lle sle y H i l l s , M assachusetts
02181
DEADLINE FOR FILING IS J u l y
15,
1979.
(TITLE)
Feuarai Register / Vol. 44, No. 106 / Thursday, May 31. 1979 / Rules and Regulations
31507
F OR M X-17F-1A
MISSING/LOST/STOtEN/CUUNTtJFElT
SECURITIES REPORT
P L E A S E T^PS C R
3 R IN r C L E A R L Y
3 E ? O f lT !N G IN S T IT U T IO N :
name
a c c rsss
21? C C D S
A T T E N T IO N
T E LE P H O N E NO.
/(
IN S/S1C IO E N T 1 P 1 E R N U M B E R
2. T Y P E O P R E P O R T :
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N A M E C P I S S U E R _____________________
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m a t u r it y o a t e
C U S IP N U M B E R
I
3 6 A R E .R / N A M S C P R E G I S T E R E D H O L D E R
I t . C E R T IP IC A T E / S E R IA U N U M B ER S
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to ta l c u r r en t m a r ket or pa ce v a lu e j
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31508
Federal Register / Vol. 44. No. 106 / Thursday, May 31, 1979 / Rules and Regulations
IN STR U CTIO N S
N o n - Section 2 4 0 .1 7 M coes not require reporting coupons. M unicipal or coroorate securities not assigned C U S IP
Numbers are not the subiec: of reoortmg and in q u iry .
ro rffis w o u ld oe' mailed to the C om m issio ns designee:
Securities Information Canter, Inc.
Post C ff'c e S o * *21
Wetlessev H ills. Massachusetts 021 S I
1.
2.
3.
4.
5.
S.
7.
3.
3.
10.
11.
12.
13.
14.
15.
IS :
17.
13.
19.
2(3.
21.
22.
23.
Reporting In fo rm atio n - Enter reso rtin g institu tio n nam e, address 3nd F IN S num ber, m in Securities Inform a'ton Center assigned s u ffix , if any.
Type of Report - C hecx whetner reso rt is a new reoort ( " L o s s r e o o r t of recovery of previously reoorted loss
'/■Recovery " I . or update or correction of reoort other than recovery (" U p d a te " ). If the report is an uodate or
co rrection , attach a cooy of the original reoort.
Date - En te r date when loss was noticed, theft occurred, when counterfeit was discovered or suspected. o< when
security was found or recovered. When suOm ittwq uocates. enter date o f less.
Ty p e ot Los* - C hecx tne Sox which most nearly describes the loss. If none of the classificatio ns adequately
describes tne loss, crtecic " O T H E R " and describe the loss in the soace crovided.
Ty p e a f S e cu rity - Check the so x which most nearly describes the type of se cu rity, if none of tn e c ta ssifica ro n s
adequately describes tne security cheek " O T H E R " and describe the secu rity in tne soace sro vice d .
Issuer - Print or type the name of issuing com pany, agency or organization as set out on tne security even
tnouqn the security may have Seen lost, stolen, or missing prior to Semg "Issu ed " Sv the aooropnate au th o rity.
Intsrwt Rata - If nterest rate was indicated, enter this info rm atio n.
M aturity Data - Enter m aturity date where aopiicaoie.
CUS1P Num ber - En te r entire C U S IP Num ber.
Name bf Registered Holder - C learly print o r type tne fuil name of oerson (im livu iu o l. <nm uanp. 'm n*. i m k rrace h o m e. pu-.t to wnom the security is registered exa ctly as it aooears on tne secu rity. Check to in a ic a tt
" S e a re r" when docum ent is a bearer secu rity.
Certificate se rial Number* - Enter certificate or serial num oer(s) including all su ffixes and p refixes. If c e rtifi
cates nave not seen issued, enter the control num ber. Series may be indicated by ‘ he first and last num bers
separated 3y a ta in and followed by the w ork "S e n e s ." C ertifica te or serial numowrs of certificates uf the same
C C S !? number which are not in sequential order should be listed separately on each i.ne, ? o r a nonsecuentiai
senes of certificates having tne same C U S IP num ber, additional sages 'utinq securities to be reported m ay be
attached.
Cenom m ation Shares - Enter in num erical form tne am ount of m oney represented by bonds, debentures,
notes and other securities /e tr e p t u o r k u a rm n is ana nanu> as indicates*on We certificates, if am ount was not
nd irated on tne certifica te, enter tne w ord " 3 t a n k ."
Fo r stocks, enter the num ber of snares represented by the certificates, not the par value of m e stock. If
number of snares is not represented, enter the w ork " S la n k ."
For warrants and rights, enter in num erical ‘ arm the num ber of shares wnicn me docum ent entities me
owner to purenase.
Issue C at* - En te r issue date of certifica te. If certificates have hot yet been ssuxd. indicate this ‘ act.
A d ditional Page* - if additional pages are attached, check the box.
To tal C urrent Market or f i e * Value - Fo r stocks, ngntt and warrants, enter me ap o ro xim ai* total current
m arket value. Fo r bonds, enter the face value of the certifica te.
Counterfeit - C a se rb e distinguishing characteristics of susoected counterfeit securities.
C rim in a lity Indicated - if reoortmg a loss, cnerk when a substantial belief of crim in ality s ndicated.
Piled wttn Federal Bureau of Investigation - C h.tcx if vou sent a copy of m is report to me s 3 ! .vnen required.
Filed w ith Local P o iic* - Check if you sent a cooy of this report to the ioeal ponce wnen required.
Transfer/P ay Agent - C heck to indicate that you have sent a cooy of this report to a Transfer or ?3ym g Agent
for me issue, and enter the name and address.
Insurance Cd. - Check to indicate that you have sent a cooy of this report to your insurance esm o an y, ano
enter ’ he name and address.
A uthorized Signature - Form X - 17 F - 1A m ust have an authorized signarure to be accaoted 3v tne System W ith
-aspect -o those -eports hied with the Com m ission s designee, tuen signatures must oe on hie with m e oesiqnee.
Cooies of 'eoorts sent to the transfer aqent and the a c o rco ria tt aw enforcem ent agency snouid contain an
onqinai signature.
C a t* - Enter Oat* w n e n form is signed.
N O TH :
Th is form may oe reproduced m any manner so lonq as me g rao n io and ‘ ormar
are not altered and 31V' x 11 " paper s used.
,:-S Sue. -9-1882? Filed 5-!0-*9l HH5 jm |
3IU-.NG CO PE 3010-01-0
@FedFRASER