[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