Submission for OMB Review; Comment Request, 37602-37603 [2013-14794]

Download as PDF 37602 Federal Register / Vol. 78, No. 120 / Friday, June 21, 2013 / Notices for applications ranges from approximately $12,800 for preparing a well-precedented, routine (or otherwise less involved) application to approximately $200,000 to prepare a complex or novel application. We estimate that the Commission receives 2 of the most time-consuming applications annually, 4 applications of medium difficulty, and 10 of the least difficult applications subject to rule 0– 4.2 This distribution gives a total estimated annual cost burden to applicants of filing all applications of $702,000 [(2x$200,000) + (4x$43,500) + (10x$12,800)]. The estimate of annual cost burden is made solely for the purposes of the Paperwork Reduction Act, and is not derived from a comprehensive or even representative survey or study of the costs of Commission rules and forms. The requirements of this collection of information are required to obtain or retain benefits. Responses 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 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: June 17, 2013. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2013–14797 Filed 6–20–13; 8:45 am] TKELLEY on DSK3SPTVN1PROD with NOTICES BILLING CODE 8011–01–P (estimating that applications filed under Advisers Act rule 206(4)–5 ‘‘will cost approximately $12,800’’). 2 The estimated 10 least difficult applications include the estimated 7 applications per year submitted under Advisers Act rule 206(4)–5. The Commission previously estimated that these applications will cost approximately $12,800 each. Id. VerDate Mar<15>2010 18:32 Jun 20, 2013 Jkt 229001 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: Rule 204–3, OMB Control No. 3235–0047, SEC File No. 270–42. 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 extension of the previously approved collection of information discussed below. The title for the collection of information is ‘‘Rule 204–3 (17 CFR 275.204–3) under the Investment Advisers Act of 1940.’’ (15 U.S.C. 80b). Rule 204–3, the ‘‘brochure rule,’’ requires advisers to deliver their brochures and brochure supplements at the start of an advisory relationship and to deliver annually thereafter the full updated brochure or a summary of material changes to their brochure. The rule also requires that advisers deliver an amended brochure or brochure supplement (or just a statement describing the amendment) to clients only when disciplinary information in the brochure or supplement becomes materially inaccurate. The brochure assists the client in determining whether to retain, or continue employing, the adviser. The information that Rule 204–3 requires to be contained in the brochure is also used by the Commission and staff in its enforcement, regulatory, and examination programs. This collection of information is found at 17 CFR 275.204–3 and is mandatory. The respondents to this information collection are investment advisers registered with the Commission. The Commission has estimated that compliance with rule 204–3 imposes a burden of approximately 31 hours annually based on an average adviser having 1,200 clients. Our latest data indicate that there were 10,754 advisers registered with the Commission as of January 2, 2013. Based on this figure, the Commission estimates a total annual burden of 331,456 hours for this collection of information. Rule 204–3 does not require recordkeeping or record retention. The collection of information requirements under the rule are mandatory. The PO 00000 Frm 00099 Fmt 4703 Sfmt 4703 information collected pursuant to the rule is not filed with the Commission, but rather takes the form of disclosures to clients and prospective clients. Accordingly, these disclosures 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 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 by sending an email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: June 17, 2013. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2013–14800 Filed 6–20–13; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copy Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. Extension: Form S–6, OMB Control No. 3235–0184, SEC File No. 270–181. 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 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 E:\FR\FM\21JNN1.SGM 21JNN1 TKELLEY on DSK3SPTVN1PROD with NOTICES Federal Register / Vol. 78, No. 120 / Friday, June 21, 2013 / Notices 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–2.1 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 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 1,287 initial registration statements filed on Form S– 6 annually and approximately 1,268 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 1 Form N–8B–2 is the form used by UITs other than separate accounts that are currently issuing securities, including UITs that are issuers of periodic payment plan certificates and UITs of which a management investment company is the sponsor or depositor to register under the Investment Company Act pursuant to Section 8 thereof. VerDate Mar<15>2010 19:30 Jun 20, 2013 Jkt 229001 filing a post-effective amendment to a previously effective registration statement filed on Form S–6 is 40 hours. Therefore, the total burden of preparing and filing Form S–6 for all affected UITs is 108,635 hours. The information collection requirements imposed by Form S–6 are 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 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: June 17, 2013. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2013–14794 Filed 6–20–13; 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: Rule 7d–1, OMB Control No. 3235–0311, SEC File No. 270–176. Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501–3520), 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. Section 7(d) of the Investment Company Act of 1940 (15 U.S.C. 80a– 7(d)) (the ‘‘Act’’ or ‘‘Investment PO 00000 Frm 00100 Fmt 4703 Sfmt 4703 37603 Company Act’’) requires an investment company (‘‘fund’’) organized outside the United States (‘‘foreign fund’’) to obtain an order from the Commission allowing the fund to register under the Act before making a public offering of its securities through the United States mail or any means of interstate commerce. The Commission may issue an order only if it finds that it is both legally and practically feasible effectively to enforce the provisions of the Act against the foreign fund, and that the registration of the fund is consistent with the public interest and protection of investors. Rule 7d–1 (17 CFR 270.7d–1) under the Act, which was adopted in 1954, specifies the conditions under which a Canadian management investment company (‘‘Canadian fund’’) may request an order from the Commission permitting it to register under the Act. Although rule 7d–1 by its terms applies only to Canadian funds, other foreign funds generally have agreed to comply with the requirements of rule 7d–1 as a prerequisite to receiving an order permitting the foreign fund’s registration under the Act. The rule requires a Canadian fund proposing to register under the Act to file an application with the Commission that contains various undertakings and agreements of the fund. The requirement for the Canadian fund to file an application is a collection of information under the Paperwork Reduction Act. Certain of the undertakings and agreements, in turn, impose the following additional information collection requirements: (1) The fund must file with the Commission agreements between the fund and its directors, officers, and service providers requiring them to comply with the fund’s charter and bylaws, the Act, and certain other obligations relating to the undertakings and agreements in the application; (2) the fund and each of its directors, officers, and investment advisers that is not a U.S. resident, must file with the Commission an irrevocable designation of the fund’s custodian in the United States as agent for service of process; (3) the fund’s charter and bylaws must provide that (a) the fund will comply with certain provisions of the Act applicable to all funds, (b) the fund will maintain originals or copies of its books and records in the United States, and (c) the fund’s contracts with its custodian, investment adviser, and principal underwriter, will contain certain terms, including a requirement that the adviser maintain originals or copies of pertinent records in the United States; E:\FR\FM\21JNN1.SGM 21JNN1

Agencies

[Federal Register Volume 78, Number 120 (Friday, June 21, 2013)]
[Notices]
[Pages 37602-37603]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-14794]


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

SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

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

Extension:
    Form S-6, OMB Control No. 3235-0184, SEC File No. 270-181.

    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 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

[[Page 37603]]

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.\1\ 
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 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.
---------------------------------------------------------------------------

    \1\ Form N-8B-2 is the form used by UITs other than separate 
accounts that are currently issuing securities, including UITs that 
are issuers of periodic payment plan certificates and UITs of which 
a management investment company is the sponsor or depositor to 
register under the Investment Company Act pursuant to Section 8 
thereof.
---------------------------------------------------------------------------

    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 1,287 initial 
registration statements filed on Form S-6 annually and approximately 
1,268 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, the total burden of preparing 
and filing Form S-6 for all affected UITs is 108,635 hours.
    The information collection requirements imposed by Form S-6 are 
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 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: June 17, 2013.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-14794 Filed 6-20-13; 8:45 am]
BILLING CODE 8011-01-P
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