81 FR 14150 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

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

Page Range		14150-14151
FR Document		2016-05878
Federal Register, Volume 81 Issue 51 (Wednesday, 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
14150 Federal Register / Vol. 81, No. 51 / Wednesday, March 16, 2016 / Notices

Fund will be halted under the C. Self-Regulatory Organization’s printing in the Commission’s Public
conditions specified in Nasdaq Rules Statement on Comments on the Reference Room, 100 F Street NE.,
4120 and 4121 or because of market Proposed Rule Change Received From Washington, DC 20549, on official
conditions or for reasons that, in the Members, Participants or Others business days between the hours of
view of the Exchange, make trading in Written comments were neither 10:00 a.m. and 3:00 p.m. Copies of such
the Shares inadvisable, and trading in solicited nor received. filing will also be available for
the Shares will be subject to Nasdaq inspection and copying at the principal
III. Date of Effectiveness of the office of the Exchange. All comments
Rule 5735(d)(2)(D), which sets forth
Proposed Rule Change and Timing for received will be posted without change;
circumstances under which Shares of
Commission Action the Commission does not edit personal
the Fund may be halted. In addition, as
Within 45 days of the date of identifying information from
noted above, investors will have ready
publication of this notice in the Federal submissions. You should submit only
access to information regarding the
Register or within such longer period information that you wish to make
Fund’s holdings, the Intraday Indicative available publicly. All submissions
Value, the Disclosed Portfolio, and up to 90 days (i) as the Commission may
designate if it finds such longer period should refer to File Number SR–
quotation and last sale information for NASDAQ–2016–030 and should be
to be appropriate and publishes its
the Shares. submitted on or before April 6, 2016.
reasons for so finding or (ii) as to which
The proposed rule change is designed the self-regulatory organization For the Commission, by the Division of
to perfect the mechanism of a free and consents, the Commission will: Trading and Markets, pursuant to delegated
open market and, in general, to protect (A) By order approve or disapprove authority.36
investors and the public interest in that the proposed rule change, or Robert W. Errett,
it will facilitate the listing and trading (B) institute proceedings to determine Deputy Secretary.
of an additional type of actively- whether the proposed rule change [FR Doc. 2016–05853 Filed 3–15–16; 8:45 am]
managed exchange-traded product that should be disapproved. BILLING CODE 8011–01–P
will enhance competition among market IV. Solicitation of Comments
participants, to the benefit of investors
Interested persons are invited to SECURITIES AND EXCHANGE
and the marketplace. As noted above,
submit written data, views, and COMMISSION
FINRA, on behalf of the Exchange, will
arguments concerning the foregoing,
communicate as needed regarding including whether the proposed rule Submission for OMB Review;
trading in the Shares and in the change is consistent with the Act. Comment Request
Exchange-Traded Instruments held by Comments may be submitted by any of
the Fund and the Subsidiary with other Upon Written Request, Copy Available
the following methods:
markets and other entities that are From: Securities and Exchange
members of the ISG and FINRA may Electronic Comments Commission, Office of FOIA Services,
obtain trading information regarding • Use the Commission’s Internet 100 F Street NE., Washington, DC
trading in the Shares and in the comment form (http://www.sec.gov/ 20549–2736.
Exchange-Traded Instruments held by rules/sro.shtml); or Extension:
the Fund and the Subsidiary from such • Send an email to rule-comments@ Form S–6, SEC File No. 270–181, OMB
sec.gov. Please include File Number SR– Control No. 3235–0184.
markets and other entities. In addition,
as noted above, investors will have NASDAQ–2016–030 on the subject line. Notice is hereby given that, pursuant
ready access to information regarding Paper Comments to the Paperwork Reduction Act of 1995
the Fund’s holdings, the Intraday (44 U.S.C. 3501 et seq.), the Securities
• Send paper comments in triplicate and Exchange Commission (the
Indicative Value, the Disclosed to Secretary, Securities and Exchange
Portfolio, and quotation and last sale ‘‘Commission’’) has submitted to the
Commission, 100 F Street NE., Office of Management and Budget
information for the Shares. Washington, DC 20549–1090. (‘‘OMB’’) a request for extension of the
For the above reasons, Nasdaq All submissions should refer to File previously approved collection of
believes the proposed rule change is Number SR–NASDAQ–2016–030. This information discussed below.
consistent with the requirements of file number should be included on the The title for the collection of
Section 6(b)(5) of the Act. subject line if email is used. To help the information is ‘‘Form S–6 (17 CFR
Commission process and review your 239.16), for Registration under the
B. Self-Regulatory Organization’s comments more efficiently, please use Securities Act of 1933 of Securities of
Statement on Burden on Competition only one method. The Commission will Unit Investment Trusts Registered on
post all comments on the Commission’s Form N–8B–2 (17 CFR 274.13).’’ Form
The Exchange does not believe that Internet Web site (http://www.sec.gov/
the proposed rule change will impose S–6 is a form used for registration under
rules/sro.shtml). Copies of the the Securities Act of 1933 (15 U.S.C. 77a
any burden on competition that is not submission, all subsequent et seq.) (‘‘Securities Act’’) of securities
necessary or appropriate in furtherance amendments, all written statements of any unit investment trust (‘‘UIT’’)
of the purposes of the Act. The with respect to the proposed rule registered under the Investment
Exchange believes that the proposed change that are filed with the Company Act of 1940 (15 U.S.C. 80a–1
rule change will facilitate the listing and
mstockstill on DSK4VPTVN1PROD with NOTICES

Commission, and all written et seq.) (‘‘Investment Company Act’’) on
trading of an additional type of actively- communications relating to the Form N–8B–2. Section 5 of the
managed exchange-traded fund that will proposed rule change between the Securities Act (15 U.S.C. 77e) requires
enhance competition among market Commission and any person, other than the filing of a registration statement
participants, to the benefit of investors those that may be withheld from the prior to the offer of securities to the
and the marketplace. public in accordance with the public and that the statement be
provisions of 5 U.S.C. 552, will be
available for Web site viewing and 36 17 CFR 200.30–3(a)(12).

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Federal Register / Vol. 81, No. 51 / Wednesday, March 16, 2016 / Notices 14151

effective before any securities are sold. purposes of the Paperwork Reduction Safeguard Customer Records and
Section 5(b) of the Securities Act Act, and are not derived from a Information; Disposal of Consumer
requires that investors be provided with comprehensive or even representative Report Information.’’ Rule 248.30 (the
a prospectus containing the information survey or study of the costs of ‘‘safeguard rule’’) requires brokers,
required in a registration statement prior Commission rules and forms. dealers, investment companies, and
to the sale or at the time of confirmation Compliance with the collection of investment advisers registered with the
or delivery of the securities. information requirements of Form S–6 Commission (‘‘registered investment
Section 10(a)(3) of the Securities Act is mandatory. Responses to the advisers’’) (collectively ‘‘covered
(15 U.S.C. 77j(a)(3)) provides that when collection of information will not be institutions’’) to adopt written policies
a prospectus is used more than nine kept confidential. An agency may not and procedures for administrative,
months after the effective date of the conduct or sponsor, and a person is not technical, and physical safeguards to
registration statement, the information required to respond to a collection of protect customer records and
therein shall be as of a date not more information unless it displays a information. The safeguards must be
than sixteen months prior to such use. currently valid OMB control number. reasonably designed to ‘‘insure the
As a result, most UITs update their The public may view the background security and confidentiality of customer
registration statements under the documentation for this information records and information,’’ ‘‘protect
Securities Act on an annual basis in collection at the following Web site: against any anticipated threats or
order that their sponsors may continue www.reginfo.gov. Comments should be hazards to the security and integrity’’ of
to maintain a secondary market in the directed to: (i) Desk Officer for the those records, and protect against
units. UITs that are registered under the Securities and Exchange Commission, unauthorized access to or use of those
Investment Company Act on Form N– Office of Information and Regulatory records or information, which ‘‘could
8B–2 file post-effective amendments to Affairs, Office of Management and result in substantial harm or
their registration statements on Form S– Budget, Room 10102, New Executive inconvenience to any customer.’’ The
6 in order to update their prospectuses. Office Building, Washington, DC 20503, safeguard rule’s requirement that
The purpose of Form S–6 is to meet or by sending an email to: Shagufta_ covered institutions’ policies and
the filing and disclosure requirements of Ahmed@omb.eop.gov; and (ii) Pamela procedures be documented in writing
the Securities Act and to enable filers to Dyson, Chief Information Officer, constitutes a collection of information
provide investors with information Securities and Exchange Commission, and must be maintained on an ongoing
necessary to evaluate an investment in c/o Remi Pavlik-Simon, 100 F Street basis. This requirement eliminates
the security. This information collection NE., Washington, DC 20549 or by uncertainty as to required employee
differs significantly from many other sending an email to: PRA_Mailbox@ actions to protect customer records and
federal information collections, which sec.gov. Comments must be submitted to information and promotes more
are primarily for the use and benefit of OMB within 30 days of this notice. systematic and organized reviews of
the collecting agency. The information safeguard policies and procedures by
Dated: March 11, 2016.
required to be filed with the institutions. The information collection
Commission permits verification of Lynn M. Powalski,
also assists the Commission’s
compliance with securities law Deputy Secretary.
examination staff in assessing the
requirements and assures the public [FR Doc. 2016–05878 Filed 3–15–16; 8:45 am] existence and adequacy of covered
availability and dissemination of the BILLING CODE 8011–01–P institutions’ safeguard policies and
information. procedures.
The Commission estimates that there We estimate that as of the end of
are approximately 1,340 initial SECURITIES AND EXCHANGE 2015, there are 4,176 broker-dealers,
registration statements filed on Form S– COMMISSION 4,041 investment companies, and
6 annually and approximately 1,158 [SEC File No. 270–549, OMB Control No. 11,956 investment advisers registered
annual post-effective amendments to 3235–0610] with the Commission, for a total of
previously effective registration 20,173 covered institutions. We believe
statements filed on Form S–6. The Proposed Collection; Comment that all of these covered institutions
Commission estimates that the hour Request have already documented their
burden for preparing and filing an safeguard policies and procedures in
Upon Written Request, Copy Available
initial registration statement on Form S– writing and therefore will incur no
From: Securities and Exchange
6 is 45 hours and for preparing and hourly burdens related to the initial
Commission, Office of FOIA Services,
filing a post-effective amendment to a documentation of policies and
100 F Street NE., Washington, DC
previously effective registration procedures.
20549–2736.
statement filed on Form S–6 is 40 hours. Although existing covered institutions
Therefore, we estimate that the total Extension: would not incur any initial hourly
hour burden of preparing and filing Rule 248.30. burden in complying with the
registration statements on Form S–6 for Notice is hereby given that, pursuant safeguards rule, we expect that newly
all affected UITs is 106,620 hours. We to the Paperwork Reduction Act of 1995 registered institutions would incur some
estimate that the cost burden of (44 U.S.C. 3501 et seq.), the Securities hourly burdens associated with
preparing and filing an initial and Exchange Commission (the documenting their safeguard policies
registration statement on Form S–6 is ‘‘Commission’’) is soliciting comments and procedures. We estimate that
mstockstill on DSK4VPTVN1PROD with NOTICES

$33,104 and for preparing and filing a on the collection of information approximately 1200 broker-dealers,
post-effective amendment is $19,862. summarized below. The Commission investment companies, or investment
Therefore, we estimate that the total cost plans to submit this existing collection advisers register with the Commission
burden of preparing and filing of information to the Office of annually. However, we also expect that
registration statements on Form S–6 for Management and Budget for extension approximately 70% of these newly
all affected UITs is $67,359,556. and approval. registered covered institutions (840) are
Estimates of average burden hours Rule 248.30 (17 CFR 248.30), under affiliated with an existing covered
and costs are made solely for the Regulation S–P is titled ‘‘Procedures to institution, and will rely on an

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Document Created: 2016-03-15 23:44:09
Document Modified: 2016-03-15 23:44:09
Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
FR Citation		81 FR 14150