80 FR 13053 - Proposed Collection; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 48 (March 12, 2015)

[Federal Register Volume 80, Number 48 (Thursday, March 12, 2015)]
[Notices]
[Page 13053]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-05601]



[[Page 13053]]

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SECURITIES AND EXCHANGE COMMISSION

[OMB Control No. 3235-0503, SEC File No. 270-446]


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.

Extension:
    Form N-6.

    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.
    The title for the collection of information is ``Form N-6 (17 CFR 
239.17c and 274.11d) under the Securities Act of 1933 (15 U.S.C. 77a et 
seq.) and under the Investment Company Act of 1940 (15 U.S.C. 80a-1 et 
seq.) registration statement of separate accounts organized as unit 
investment trusts that offer variable life insurance policies.'' Form 
N-6 is the form used by insurance company separate accounts organized 
as unit investment trusts that offer variable life insurance contracts 
to register as investment companies under the Investment Company Act of 
1940 and/or to register their securities under the Securities Act of 
1933. The primary purpose of the registration process is to provide 
disclosure of financial and other information to investors and 
potential investors for the purpose of evaluating an investment in a 
security. Form N-6 also requires separate accounts organized as unit 
investment trusts that offer variable life insurance policies to 
provide investors with a prospectus and a statement of additional 
information (``SAI'') covering essential information about the separate 
account when it makes an initial or additional offering of its 
securities.
    The Commission estimates that approximately 472 registration 
statements (396 post-effective amendments plus 76 initial registration 
statements) are filed on Form N-6 annually. The estimated hour burden 
per portfolio for preparing and filing an initial registration 
statement on Form N-6 is 770.25 hours. The estimated annual hour burden 
for preparing and filing initial registration statements is 58,539 
hours (76 initial registration statements annually times 770.25 hours 
per registration statement). The Commission estimates that the hour 
burden for preparing and filing a post-effective amendment on Form N-6 
is 67.5 hours. The total annual hour burden for preparing and filing 
post-effective amendments is 26,730 hours (396 post-effective 
amendments annually times 67.5 hours per amendment). The frequency of 
response is annual. The total annual hour burden for Form N-6, 
therefore, is estimated to be 85,269 hours (58,539 hours for initial 
registration statements plus 26,730 hours for post-effective 
amendments).
    The Commission estimates that the cost burden for preparing an 
initial Form N-6 filing is $24,169 per portfolio and the current cost 
burden for preparing a post-effective amendment to a previously 
effective registration statement is $8,788 per portfolio. The 
Commission estimates that, on an annual basis, 76 portfolios will be 
referenced in an initial Form N-6 and 396 portfolios will be referenced 
in a post-effective amendment of Form N-6. Thus, the total cost burden 
allocated to Form N-6 would be $5,316,892.
    The information collection requirements imposed by Form N-6 are 
mandatory. Responses to the collection of information will not be kept 
confidential. 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. 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.
    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 Pamela Dyson, Director/Chief 
Information Officer, Securities and Exchange Commission, C/O Remi 
Pavlik-Simon, 100 F Street NE., Washington, DC 20549; or send an email 
to: [email protected].

    Dated: March 6, 2015.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2015-05601 Filed 3-11-15; 8:45 am]
 BILLING CODE 8011-01-P