[Federal Register Volume 65, Number 8 (Wednesday, January 12, 2000)] [Notices] [Pages 1934-1935] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 00-676] ======================================================================= ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Filings and Information Services, Washington, D.C. 20549 Form N-4, SEC File No. 270-282, OMB Control No. 3235-0318 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'') 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. Description of Form N-4, Its Purpose and the Industry Entities Affected There are two separate statutes which require investment companies to file registration statements with the Commission if they are offering their securities to the public. Each must register as an investment company under the Investment Company Act of 1940 (``1940 Act''), and must register the securities it will offer under the Securities Act of 1933 (``1933 Act''). Form N-4 is part is the integrated registration and reporting system by which registrants satisfy the registration requirements of both the 1940 Act and the 1933 Act by filing a single registration statement. Form N-4 is the required form that insurance company separate accounts organized as unit investment trusts (``IC UIT separate accounts'') must use if they offer variable annuity contracts. The Form N-4's purpose is to provide investors with material information concerning securities offered for public sale. The first part includes a simplified prospectus that satisfies the prospectus delivery requirements of the 1933 Act. The second part is a Statement of Additional Information available free of charge to prospective investors upon request. A third part of the registration statement includes all of the other mandatory information that is not specifically required to be in the prospectus or the Statement of Additional Information. As a regulatory matter, Form N-4 satisfies the disclosure requirement of the 1933 Act. Form N-4 also satisfies the 1940 requirement that investment companies file a registration statement with the Commission pursuant to Section 8(b). It is estimated that, currently, there are 615 IC UIT separate accounts required to file initial and post effective registration statements on an annual and as required basis using Form N-4. The burden from Form N-4 requires approximately 219.8 hours per post effective amendment and 298 hours for each initial registration. The total burden hours for Form N-4 is estimated at 284,379.20 in the aggregate. The 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 representative survey or study of the costs of Commission rules and forms. 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; [[Page 1935]] (b) the accuracy of the agency's estimate of the burden of the collection of information; (c) ways of 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 Michael E. Bartell, Associate Executive Director, Office of Information Technology, Securities and Exchange Commission, 450 Fifth Street, N.W., Washington, DC 20549. Dated: January 4, 2000. Margaret H. McFarland, Deputy Secretary. [FR Doc. 00-676 Filed 1-11-00; 8:45 am] BILLING CODE 8010-01-M