[Federal Register Volume 77, Number 216 (Wednesday, November 7, 2012)]
[Notices]
[Pages 66884-66885]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-27137]
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SECURITIES AND EXCHANGE COMMISSION
Submission for OMB Review; Comment Request
Upon Written Request Copies Available From: Securities and Exchange
Commission, Office of Investor Education and Advocacy, Washington, DC
20549-0213.
Extension:
Form N-3; SEC File No. 270-281, OMB Control No. 3235-0316.
Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange
Commission (the ``Commission'') has submitted to the Office of
Management and Budget a request for extension of the previously
approved collection of information discussed below.
The title for the collection of information is ``Form N-3 (17 CFR
239.17a and 274.11b) under the Securities Act of 1933 (15 U.S.C. 77)
and under the Investment Company Act of 1940 (15 U.S.C. 80a),
Registration Statement of Separate Accounts Organized as Management
Investment Companies.'' Form N-3 is the form used by separate accounts
offering variable annuity contracts which are organized as management
investment companies to register under the Investment Company Act of
1940 (``Investment Company Act'') and/or to register their securities
under the Securities Act of 1933 (``Securities Act''). Form N-3 is also
the form used to file a registration statement under the Securities Act
(and any amendments thereto) for variable annuity contracts funded by
separate accounts which would be required to be registered under the
Investment Company Act as management investment companies except for
the exclusion provided by Section 3(c)(11) of the Investment Company
Act (15 U.S.C. 80a-3(c)(11)). Section 5 of the Securities Act (15
U.S.C. 77e) requires the filing of a registration statement prior to
the offer of securities to the public and that the statement be
effective before any securities are sold, and Section 8 of the
Investment Company Act (15 U.S.C. 80a-8) requires a separate account to
register as an investment company.
Form N-3 also permits separate accounts offering variable annuity
contracts which are organized as investment companies to provide
investors with a prospectus and a statement of additional information
covering essential information about the separate account when it makes
an initial or additional offering of its securities. Section 5(b) of
the Securities Act requires that investors be provided with a
prospectus containing the information required in a registration
statement prior to the sale or at the time of confirmation or delivery
of the securities. The form also may be used by the Commission in its
regulatory review, inspection, and policy-making roles.
Commission staff estimates that there are zero initial registration
statements and 7 post-effective amendments to initial registration
statements filed on Form N-3 annually and that the average number of
portfolios referenced in each post-effective amendment is 2. The
Commission further estimates that the hour burden for preparing and
filing a post-effective amendment on Form N-3 is 155.2 hours per
portfolio. The total annual hour burden for preparing and filing post-
effective amendments is 2172.8 hours (7 post-effective amendments x 2
portfolios x 155.2 hours per portfolio). The estimated annual hour
burden for preparing and
[[Page 66885]]
filing initial registration statements is 0 hours. The total annual
hour burden for Form N-3, therefore, is estimated to be 2172.8 hours
(2172.8 hours + 0 hours).
The information collection requirements imposed by Form N-3 are
mandatory. Responses to the collection of information will not be kept
confidential. An agency may not conduct or sponsor, and a person is not
required to respond to a collection of information unless it displays a
currently valid control number.
The public may view the background documentation for this
information collection at the following Web site, www.reginfo.gov.
Comments should be directed to: (i) Desk Officer for the Securities and
Exchange Commission, Office of Information and Regulatory Affairs,
Office of Management and Budget, Room 10102, New Executive Office
Building, Washington, DC 20503, or by sending an email to: [email protected]; and (ii) Thomas Bayer, Chief Information Officer,
Securities and Exchange Commission, c/o Remi Pavlik-Simon, 6432 General
Green Way, Alexandria, VA 22312 or send an email to: [email protected]. Comments must be submitted to OMB within 30 days of
this notice.
Dated: October 29, 2012.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-27137 Filed 11-6-12; 8:45 am]
BILLING CODE 8011-01-P