[Federal Register Volume 72, Number 192 (Thursday, October 4, 2007)]
[Notices]
[Pages 56804-56805]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-19547]
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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 Investor Education and Advocacy, Washington, DC
20549-0213
Extension:
Form S-6, SEC 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.) (``Paperwork Reduction Act''), 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.
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).'' 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 (15 U.S.C. 77a et seq.)
(``Securities Act''), and to register as investment companies under the
Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) (``Investment
Company Act'').
Form S-6 is used for registration under the Securities Act of the
securities of any unit investment trust that is registered under the
Investment Company Act on Form N-8B-2.\1\ A separate registration
statement under the Securities Act must be filed for each series of
units issued by the trust. Form S-6 consists of, among other things, a
prospectus, certain written consents, an undertaking to file
supplementary information, and certain exhibits containing financial
and other information required in the registration
[[Page 56805]]
statement but not required to appear in the prospectus.
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\1\ Form N-8B-2 is the form used by unit investment trusts to
register as investment companies under the Investment Company Act
(except for unit investment trusts that are insurance company
separate accounts issuing variable annuity or variable life
insurance contracts, which instead register on Form N-4 and Form N-
6, respectively). 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 Securities Act (15 U.S.C. 77j(a)(3))
provides, in pertinent part, that when a prospectus is used more than
nine months after the effective date of the registration statement, the
information contained therein shall be as of a date not more than
sixteen months prior to such use. As a result, most unit investment
trusts that are registered under the Investment Company Act on Form N-
8B-2 update their registration statements on Form S-6 on an annual
basis so 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 that are registered under
the Investment Company Act on Form N-8B-2 must furnish to investors a
prospectus containing pertinent information set forth in the
registration statement. The Commission reviews registration statements
filed on Form S-6 to ensure adequate disclosure is made to investors.
The Commission estimates that each year unit investment trusts file
approximately 1,353 Forms S-6. It is estimated 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 unit
investment trusts is 47,355 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. 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.
Please direct general comments regarding the above information to
the following persons: (i) Desk Officer for the Securities and Exchange
Commission, Office of Management and Budget, Room 10102, New Executive
Office Building, Washington, DC 20503 or e-mail to: [email protected]; and (ii) R. Corey Booth, Director/Chief Information
Officer, Securities and Exchange Commission, C/O Shirley Martinson,
6432 General Green Way, Alexandria, Virginia, 22312; or send an e-mail
to: [email protected]. Comments must be submitted to OMB within 30
days of this notice.
Dated: September 27, 2007.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-19547 Filed 10-3-07; 8:45 am]
BILLING CODE 8011-01-P