80 FR 31437 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 105 (June 2, 2015)

[Federal Register Volume 80, Number 105 (Tuesday, June 2, 2015)]
[Notices]
[Pages 31437-31438]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-13380]


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SECURITIES AND EXCHANGE COMMISSION

[Extension: Form N-4; OMB Control No. 3235-0318, SEC File No. 270-282]


Submission for OMB Review; Comment Request

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 collection of information is entitled: ``Form N-4 (17 CFR 
239.17b) under the Securities Act of 1933 and (17 CFR 274.11c) under 
the Investment Company Act of 1940, registration statement of separate 
accounts organized as unit investment trust.'' Form N-4 is the form 
used by insurance company separate accounts organized as unit 
investment trusts that offer variable annuity contracts to register as 
investment companies under the Investment Company Act of 1940 (15 
U.S.C. 80a-1 et seq.) and/or to register their securities under the 
Securities Act of 1933 (15 U.S.C. 77a et seq.). 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 
registration statement be effective before any securities are sold, and 
Section 8 of the Investment Company Act (15 U.S.C. 80a-8) provides for 
the registration of investment companies. Pursuant to Form N-4, 
separate accounts organized as unit investment trusts that offer 
variable annuity contracts provide investors with a prospectus and a 
statement of additional information covering essential information 
about a separate account. 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 or at the time of sale or 
delivery of securities.
    The purpose of Form N-4 is to meet the filing and disclosure 
requirements of the Securities Act and the Investment Company Act and 
to enable filers to provide investors with information necessary to 
evaluate an investment in a security. 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 estimated annual number of filings on Form N-4 is 210 initial 
registration statements and 1,443 post-effective amendments. The 
estimated average number of portfolios per filing is one, both for 
initial registration statements and post-effective amendments on Form 
N-4. Accordingly, the estimated number of portfolios referenced in 
initial Form N-4 filings annually is 210 and the estimated number of 
portfolios referenced in post-effective amendment filings on Form N-4 
annually is 1,443. The estimate of the annual hour burden for Form N-4 
is approximately 278.5 hours per initial registration statement and 
197.25 hours per post-effective amendment, for a total of 343,116.75 
hours ((210 initial registration statements x 278.5 hours) + (1,443 
post-effective amendments x 197.25 hours)).
    The current estimated annual cost burden for preparing an initial 
Form N-4 filing is $23,013 per portfolio and the current estimated 
annual cost burden for preparing a post-effective amendment filing on 
Form N-4 is $21,813 per portfolio. The Commission estimates that, on an 
annual basis, 210 portfolios will be referenced in initial Form N-4 
filings and 1,443 portfolios will be referenced in post-effective 
amendment filings on Form N-4. Thus, the estimated total annual cost 
burden allocated to Form N-4 would be $36,308,889 ((210 x $23,013) + 
(1,443 x $21,813)).
    Providing the information required by Form N-4 is mandatory. 
Responses 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.
    The public may view the background documentation for this 
information collection at the following Web site, www.reginfo.gov. 
Comments should be directed to: (i) Desk Officer for the

[[Page 31438]]

Securities and Exchange Commission, Office of Information and 
Regulatory Affairs, Office of Management and Budget, Room 10102, New 
Executive Office Building, Washington, DC 20503, or by sending an email 
to: [email protected]; and (ii) 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]. Comments must be submitted to OMB within 30 
days of this notice.

    Dated: May 28, 2015.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-13380 Filed 6-1-15; 8:45 am]
 BILLING CODE 8011-01-P