[Federal Register Volume 78, Number 74 (Wednesday, April 17, 2013)]
[Notices]
[Page 22919]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-08973]
[[Page 22919]]
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SECURITIES AND EXCHANGE COMMISSION
Submission for OMB Review; Comment Request
Upon Written Request, Copy Available From: Securities and Exchange
Commission, Office of Investor Education and Advocacy, Washington, DC
20549-0213.
Extension: Form S-6.
OMB Control No.: 3235-0184, SEC File No. 270-181.
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'') is soliciting comments on the
collection of information summarized below. The Commission plans to
submit this existing collection of information to the Office of
Management and Budget for extension and approval.
The title for the collection of information is ``Form S-6 (17 CFR
239.16), for Registration under the Securities Act of 1933 of
Securities of Unit Investment Trusts Registered on Form N-8B-2 (17 CFR
274.13).'' Form S-6 is a form used for registration under the
Securities Act of 1933 (15 U.S.C. 77a et seq.) (``Securities Act'') of
securities of any unit investment trust (``UIT'') registered under the
Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) (``Investment
Company Act'') on Form N-8B-2.\1\ 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. 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.
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\1\ Form N-8B-2 is the form used by UITs other than separate
accounts that are currently issuing securities, including UITs that
are issuers of periodic payment plan certificates and UITs of which
a management investment company is the sponsor or depositor to
register under the Investment Company Act pursuant to Section 8
thereof.
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Section 10(a)(3) of the Securities Act (15 U.S.C. 77j(a)(3))
provides that when a prospectus is used more than nine months after the
effective date of the registration statement, the information therein
shall be as of a date not more than sixteen months prior to such use.
As a result, most UITs update their registration statements under the
Securities Act on an annual basis in order that their sponsors may
continue to maintain a secondary market in the units. UITs that are
registered under the Investment Company Act on Form N-8B-2 file post-
effective amendments to their registration statements on Form S-6 in
order to update their prospectuses.
The purpose of Form S-6 is to meet the filing and disclosure
requirements of the Securities Act and to enable filers to provide
investors with information necessary to evaluate an investment in the
security. This information collection differs significantly from many
other federal information collections, which are primarily for the use
and benefit of the collecting agency. The information required to be
filed with the Commission permits verification of compliance with
securities law requirements and assures the public availability and
dissemination of the information.
The Commission estimates that there are approximately 1,287 initial
registration statements filed on Form S-6 annually and approximately
1,268 annual post-effective amendments to previously effective
registration statements filed on Form S-6. The Commission estimates
that the hour burden for preparing and filing an initial registration
statement on Form S-6 is 45 hours and for preparing and filing a post-
effective amendment to a previously effective registration statement
filed on Form S-6 is 40 hours. Therefore, the total burden of preparing
and filing Form S-6 for all affected UITs is 108,635 hours.
The information collection requirements imposed by Form S-6 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.
Written comments are invited on: (a) Whether the proposed
collection of information is necessary for the proper performance of
the functions of the agency, including whether the information will
have practical utility; (b) the accuracy of the agency's estimate of
the burden of the collection of information; (c) ways to enhance the
quality, utility, and clarity of the information collected; and (d)
ways to minimize the burden of the collection of information on
respondents, including through the use of automated collection
techniques or other forms of information technology. Consideration will
be given to comments and suggestions submitted in writing within 60
days of this publication.
Please direct your written comments to 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].
Dated: April 11, 2013.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-08973 Filed 4-16-13; 8:45 am]
BILLING CODE 8011-01-P