81 FR 14150 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 51 (March 16, 2016)

[Federal Register Volume 81, Number 51 (Wednesday, March 16, 2016)]
[Notices]
[Pages 14150-14151]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-05878]


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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 FOIA Services, 100 F Street NE., Washington, DC 
20549-2736.

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 (``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

[[Page 14151]]

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 1,340 initial 
registration statements filed on Form S-6 annually and approximately 
1,158 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 106,620 hours. We estimate that the cost 
burden of preparing and filing an initial registration statement on 
Form S-6 is $33,104 and for preparing and filing a post-effective 
amendment is $19,862. Therefore, we estimate that the total cost burden 
of preparing and filing registration statements on Form S-6 for all 
affected UITs is $67,359,556.
    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 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 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, Chief Information 
Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon, 100 
F Street NE., Washington, DC 20549 or by sending an email to: 
[email protected]. Comments must be submitted to OMB within 30 days 
of this notice.

    Dated: March 11, 2016.
Lynn M. Powalski,
Deputy Secretary.
[FR Doc. 2016-05878 Filed 3-15-16; 8:45 am]
 BILLING CODE 8011-01-P