[Federal Register Volume 75, Number 159 (Wednesday, August 18, 2010)]
[Notices]
[Pages 51120-51121]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-20371]
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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.), the Securities and Exchange
Commission (the ``Commission'') has submitted to the Office of
Management and Budget 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.\1\ 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.
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\1\ Form N-8B-2 is the form used by 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
register under the Investment Company Act pursuant to Section 8
thereof.
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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
[[Page 51121]]
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 938 initial
registration statements filed on Form S-6 annually and approximately
1,116 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 or for preparing and filing a post-effective
amendment to a previously effective registration statement filed on
Form S-6 is 35 hours. Therefore, the total burden of preparing and
filing Form S-6 for all affected UITs is 71,890 hours.
The information collection requirements imposed by Form S-6 are
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 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 send an e-mail to Shagufta
Ahmed at [email protected]; and (ii) Charles Boucher,
Director/CIO, Securities and Exchange Commission, C/O Shirley
Martinson, 6432 General Green Way, Alexandria, VA 22312; or send an e-
mail to: [email protected]. Comments must be submitted to OMB
within 30 days of this notice.
Dated: August 11, 2010.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-20371 Filed 8-17-10; 8:45 am]
BILLING CODE 8010-01-P