[Federal Register Volume 63, Number 233 (Friday, December 4, 1998)]
[Notices]
[Page 67152]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-32325]
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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 Filings and Information Services, 450 Fifth
Street, N.W., Washington, D.C. 20549
Extension:
Form S-6, File No. 270-181, OMB Control No. 3235-0184
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
(``Commission'') has submitted to the Office of Management and Budget
(``OMB'') a request for extension of the previously approved collection
of information discussed below.
Form S-6--For Registration under the Securities Act of 1933 of
Securities of Unit Investment Trusts Registered on Form N-8B-2. Unit
investment trusts offering their securities to the public are required
by two separate statutes to file registration statements with the
Commission. They are required to register their securities under the
Securities Act of 1933 (``1933 Act''), and to register as investment
companies under the Investment Company Act of 1940 (``1940 Act'').
Form S-6 is used for registration under the 1933 Act of the
securities of any unit investment trust registered under the 1940 Act
on Form N-8B-2.\1\ A separate registration statement under the 1933 Act
must be filed for each series of units issued by the trust. Form S-6
consists of two parts. Part I contains the prospectus and Part II
consists of a list of exhibits and financial information and contains
other information required in the registration statement but not
required to appear in the prospectus.
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\1\ Form N-8B2 is the form used for registration statements
filed by unit investment trusts under the 1940 Act. The form
requires that certain material information about the trust, its
sponsor, its trustees, and its operation be disclosed. The
registration on Form N-8B-2 is a one-time filing that applies to the
first series of the unit investment trust as well as any subsequent
series that is issued by the sponsor.
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Section 10(a)(3) of the 1933 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.
Unit investment trusts file post-effective amendments to their
registration statements on Form S-6 in order to update their
prospectuses. As a result, most unit investment trusts update their
registration statements on Form S-6 on an annual basis in order that
their sponsors may continue to maintain a secondary market in the
units.
The purpose of the registration statement on Form S-6 is to provide
disclosure of financial and other information that investors may use to
make informed decisions regarding the merits of the securities offered
for sale. To that end, unit investment trusts must furnish to investors
a prospectus containing pertinent information set forth in the
registration statement. Without the registration requirement, this
material information would not necessarily be available to investors.
The Commission reviews registration statements filed on Form S-6 to
ensure adequate disclosure is made to investors.
Each year approximately 3,600 investment companies file a Form S-6.
The Commission estimates that preparing Form S-6 requires a unit
investment trust to spend approximately 35 hours so that the total
burden of preparing Form S-6 for all affected investment companies is
126,000 hours. Estimates of average burden hours are made solely for
the purposes of the Paperwork Reduction Act, and are not derived from a
comprehensive or even a representative survey or study of the costs of
Commission rules and forms.
The collection of information on Form S-6 is mandatory. The
information provided on Form S-6 is not kept confidential. The
Commission may not conduct or sponsor, and a person is not required to
respond to, a collection of information unless it displays a currently
valid OMB control number.
General comments regarding the above information should be directed
to the following persons: (i) Desk Officer for the Securities and
Exchange Commission, Office of Information and Regulatory Affairs,
Office of Management and Budget, Room 3208, New Executive Office
Building, Washington, D.C. 20503; and (ii) Michael E. Bartell,
Associate Executive Director, Office of Information Technology,
Securities and Exchange Commission, 450 Fifth Street, N.W., Washington,
D.C. 20549. Comments must be submitted to OMB within 30 days of this
notice.
Dated: November 30, 1998.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 98-32325 Filed 12-3-98; 8:45 am]
BILLING CODE 8010-01-M