[Federal Register Volume 85, Number 144 (Monday, July 27, 2020)]
[Notices]
[Page 45285]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-16141]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-186, OMB Control No. 3235-0186]
Proposed Collection; Comment Request
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC
20549-2736
Revision: Form N-8B-2
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.
Form N-8B-2 (17 CFR 274.12) is the form used by unit investment
trusts (``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 comply with the filing and disclosure
requirements imposed by section 8(b) of the Investment Company Act of
1940 (15 U.S.C. 80a-8(b)). Form N-8B-2 requires disclosure about the
organization of a UIT, its securities, the personnel and affiliated
persons of the depositor, the distribution and redemption of
securities, the trustee or custodian, and financial statements. The
Commission uses the information provided in the collection of
information to determine compliance with section 8(b) of the Investment
Company Act.
Each registrant subject to the Form N-8B-2 filing requirement files
Form N-8B-2 for its initial filing and does not file post-effective
amendments on Form N-8B-2.\1\ The Commission staff estimates that
approximately one respondent files one Form N-8B-2 filing annually with
the Commission. Based on form amendments to include formatting and
hyperlinking requirements to Form N-8B-2 arising from the adoption of
the FAST Act release,\2\ staff estimates that the burden for compliance
with Form N-8B-2 is approximately 28 hours per filing.\3\ The total
hourly burden for the Form N-8B-2 filing requirement therefore is 28
hours in the aggregate (1 respondent x one filing per respondent x 28
hours per filing), at an internal cost burden of $9,912, and external
cost burden of $10,300.
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\1\ Post-effective amendments are filed with the Commission on
the UIT's Form S-6. Hence, respondents only file Form N-8B-2 for
their initial registration statement and not for post-effective
amendments.
\2\ FAST Act Modernization and Simplification of Regulation S-K,
Securities Act Release No. 10618 (March 20, 2019) [84 FR 12674
(April 2, 2019)].
\3\ Staff estimates are also adjusted to reflect new disclosures
for UIT ETFs arising from the adoption of the Exchange-Traded Funds
release. See Exchange-Traded Funds, Investment Company Act Release
No. 33646 (Sept. 25, 2019) [84 FR 57162 (Oct. 24, 2019)].
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Estimates of the burden hours are made solely for the purposes of
the PRA and are not derived from a comprehensive or even a
representative survey or study of the costs of SEC rules and forms. The
information provided on Form N-8B-2 is mandatory. The information
provided on Form N-8B-2 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 OMB
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 David Bottom, Director/Chief
Information Officer, Securities and Exchange Commission, C/O Cynthia
Roscoe, 100 F Street NE, Washington, DC 20549; or send an email to:
[email protected].
Dated: July 21, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-16141 Filed 7-24-20; 8:45 am]
BILLING CODE 8011-01-P