Submission for OMB Review; Comment Request, 41461-41462 [2012-17075]

Download as PDF Federal Register / Vol. 77, No. 135 / Friday, July 13, 2012 / Notices 2 is 121 hours per respondent, including an estimated 20 hours associated with the notice requirement for householding and an estimated 1 hour associated with the explanation of the right to revoke consent to householding. The Commission estimates that there are currently approximately 760 UITs. Therefore, the Commission estimates that the total hour burden is approximately 91,960 hours. In addition to the burden hours, the Commission estimates that the annual cost of contracting for outside services associated with rule 30e–2 is $20,000 per respondent, for a total cost of approximately $15,200,000. 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 representative survey or study of the costs of Commission rules and forms. The collection of information under rule 30e–2 is mandatory. The information provided under rule 30e–2 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: Shagufta_Ahmed@omb.eop.gov; and (ii) Thomas Bayer, Director/Chief Information Officer, Securities and Exchange Commission, c/o Remi PavlikSimon, 6432 General Green Way, Alexandria, VA 22312; or send an email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: July 9, 2012. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2012–17072 Filed 7–12–12; 8:45 am] BILLING CODE 8011–01–P srobinson on DSK4SPTVN1PROD with NOTICES SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. VerDate Mar<15>2010 17:08 Jul 12, 2012 Jkt 226001 Extension: Rule 206(4)–3; SEC File No. 270–218; OMB Control No. 3235–0242. 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 (‘‘Commission’’) has submitted to the Office of Management and Budget a request for approval of extension of the previously approved collection of information discussed below. Rule 206(4)–3 (17 CFR 275.206(4)–3) under the Investment Advisers Act of 1940, which is entitled ‘‘Cash Payments for Client Solicitations,’’ provides restrictions on cash payments for client solicitations. The rule requires that an adviser pay all solicitors’ fees pursuant to a written agreement. When an adviser will provide only impersonal advisory services to the prospective client, the rule imposes no disclosure requirements. When the solicitor is affiliated with the adviser and the adviser will provide individualized advisory services to the prospective client, the solicitor must, at the time of the solicitation or referral, indicate to the prospective client that he is affiliated with the adviser. When the solicitor is not affiliated with the adviser and the adviser will provide individualized advisory services to the prospective client, the solicitor must, at the time of the solicitation or referral, provide the prospective client with a copy of the adviser’s brochure and a disclosure document containing information specified in rule 206(4)–3. Amendments to rule 206(4)–3, adopted in 2010 in connection with rule 206(4)– 5, specify that solicitation activities involving a government entity, as defined in rule 206(4)–5, are subject to the additional limitations of rule 206(4)–5. The information rule 206(4)– 3 requires is necessary to inform advisory clients about the nature of the solicitor’s financial interest in the recommendation so the prospective clients may consider the solicitor’s potential bias, and to protect clients against solicitation activities being carried out in a manner inconsistent with the adviser’s fiduciary duty to clients. Rule 206(4)–3 is applicable to all Commission registered investment advisers. The Commission believes that approximately 4,159 of these advisers have cash referral fee arrangements. The rule requires approximately 7.04 burden hours per year per adviser and results in a total of approximately 29,279 total burden hours (7.04 × 4,159) for all advisers. The disclosure requirements of rule 206(4)–3 do not require recordkeeping or record retention. The collections of PO 00000 Frm 00112 Fmt 4703 Sfmt 4703 41461 information requirements under the rules are mandatory. Information subject to the disclosure requirements of rule 206(4)–3 is not submitted to the Commission. The disclosures pursuant to the rule are not 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 background documentation for this information collection at the following Web site, www.reginfo.gov. 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 email to: Shagufta_Ahmed@omb.eop.gov; and (ii) Thomas Bayer, Director/Chief Information Officer, Securities and Exchange Commission, c/o Remi PavlikSimon, 6432 General Green Way, Alexandria, VA 22312; or send an email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: July 9, 2012. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2012–17073 Filed 7–12–12; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. Extension: Form N–4; SEC File No. 270–282; OMB Control No. 3235–0318. 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.’’ E:\FR\FM\13JYN1.SGM 13JYN1 srobinson on DSK4SPTVN1PROD with NOTICES 41462 Federal Register / Vol. 77, No. 135 / Friday, July 13, 2012 / Notices 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 124 initial registration statements and 1,127 posteffective 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 124 and the estimated number of portfolios referenced in post-effective amendment filings on Form N–4 annually is 1,127. 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 256,834.75 hours ((124 initial registration statements × 278.5 hours) + (1,127 posteffective amendments × 197.25 hours)). The current estimated annual cost burden for preparing an initial Form N– 4 filing is $22,319 per portfolio and the current estimated annual cost burden for preparing a post-effective VerDate Mar<15>2010 17:08 Jul 12, 2012 Jkt 226001 amendment filing on Form N–4 is $21,155 per portfolio. The Commission estimates that, on an annual basis, 124 portfolios will be referenced in initial Form N–4 filings and 1,127 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 $26,609,241 ((124 × $22,319) + (1,127 × $21,155)). 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 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: Shagufta_Ahmed@omb.eop.gov; and (ii) Thomas Bayer, Director/Chief Information Officer, Securities and Exchange Commission, c/o Remi PavlikSimon, 6432 General Green Way, Alexandria, VA 22312 or send an email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: July 9, 2012. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2012–17075 Filed 7–12–12; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. Extension: Form N–6; SEC File No. 270–446 ; OMB Control No. 3235–0503. Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 PO 00000 Frm 00113 Fmt 4703 Sfmt 4703 (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 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 436 registration statements (429 post-effective amendments plus 7 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 5,391.75 hours (7 initial registration statements annually times 770.25 hours per registration statement). The Commission estimates that the hour burden for preparing and filing a posteffective amendment on Form N–6 is 67.5 hours. The total annual hour burden for preparing and filing posteffective amendments is 28,957.5 hours (429 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 34,349.25 hours (5,391.75 hours for initial registration statements plus 28,957.5 hours for post-effective amendments). The Commission estimates that the cost burden for preparing an initial E:\FR\FM\13JYN1.SGM 13JYN1

Agencies

[Federal Register Volume 77, Number 135 (Friday, July 13, 2012)]
[Notices]
[Pages 41461-41462]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-17075]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549-0213.

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

    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.''

[[Page 41462]]

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 124 initial 
registration statements and 1,127 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 124 and the estimated number of 
portfolios referenced in post-effective amendment filings on Form N-4 
annually is 1,127. 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 256,834.75 
hours ((124 initial registration statements x 278.5 hours) + (1,127 
post-effective amendments x 197.25 hours)).
    The current estimated annual cost burden for preparing an initial 
Form N-4 filing is $22,319 per portfolio and the current estimated 
annual cost burden for preparing a post-effective amendment filing on 
Form N-4 is $21,155 per portfolio. The Commission estimates that, on an 
annual basis, 124 portfolios will be referenced in initial Form N-4 
filings and 1,127 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 $26,609,241 ((124 x $22,319) + 
(1,127 x $21,155)).
    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 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: Shagufta_Ahmed@omb.eop.gov; and (ii) Thomas Bayer, Director/Chief Information 
Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon, 
6432 General Green Way, Alexandria, VA 22312 or send an email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of 
this notice.

    Dated: July 9, 2012.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-17075 Filed 7-12-12; 8:45 am]
BILLING CODE 8011-01-P
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