[Federal Register Volume 88, Number 57 (Friday, March 24, 2023)]
[Notices]
[Page 17901]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-06045]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-181, OMB Control No. 3235-0184]
Submission for OMB Review; Comment Request; Extension: Form S-6
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC
20549-2736
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'') has submitted to the Office of
Management and Budget (``OMB'') a request for extension of the
previously approved collection of information discussed below.
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. 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.
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 1,019 initial
registration statements filed on Form S-6 annually and approximately
607 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, we estimate that the total
hour burden of preparing and filing registration statements on Form S-6
for all affected UITs is 68,365 hours. We estimate that the cost burden
of preparing and filing an initial registration statement on Form S-6
is $38,825 and for preparing and filing a post-effective amendment is
$23,434. Therefore, we estimate that the total cost burden of preparing
and filing registration statements on Form S-6 for all affected UITs is
$53,787,113.
Estimates of average burden hours and costs 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. Compliance with the collection of
information requirements of Form S-6 is 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 OMB
control number.
The public may view background documentation for this information
collection at the following website: www.reginfo.gov. Find this
particular information collection by selecting ``Currently under 30-day
Review--Open for Public Comments'' or by using the search function.
Written comments and recommendations for the proposed information
collection should be sent within 30 days of publication of this notice
by April 24, 2023 to (i) [email protected] and
(ii) David Bottom, Director/Chief Information Officer, Securities and
Exchange Commission, c/o John Pezzullo, 100 F Street NE, Washington, DC
20549, or by sending an email to: [email protected].
Dated: March 20, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-06045 Filed 3-23-23; 8:45 am]
BILLING CODE 8011-01-P