Proposed Collection; Comment Request; Extension: Form S-6, 2982-2983 [2023-00773]

Download as PDF 2982 Federal Register / Vol. 88, No. 11 / Wednesday, January 18, 2023 / Notices Rule 203A–2(e),1 which is entitled ‘‘internet investment advisers,’’ exempts from the prohibition on Commission registration an internet investment adviser who provides investment advice to all of its clients exclusively through computer software-based models or applications, termed under the rule as ‘‘interactive websites.’’ 2 These advisers generally would not meet the statutory thresholds currently set out in section 203A of the Advisers Act 3 because they do not manage $25 million or more in assets and do not advise registered investment companies, or they manage between $25 million and $100 million in assets, do not advise registered investment companies or business development companies, and are required to be registered as investment advisers with the states in which they maintain their principal offices and places of business and are subject to examination as an adviser by such states.4 Eligibility under rule 203A–2(e) is conditioned on an adviser maintaining in an easily accessible place, for a period of not less than five years from the filing of Form ADV,5 a record demonstrating that the adviser’s advisory business has been conducted through an interactive website in accordance with the rule.6 This record maintenance requirement is a ‘‘collection of information’’ for PRA purposes. The Commission believes that approximately 231 advisers are registered with the Commission under rule 203A–2(e), which involves a recordkeeping requirement of approximately four burden hours per year per adviser and results in an estimated 924 of total burden hours (4 × 231) for all advisers. This collection of information is mandatory, as it is used by Commission staff in its examination and oversight program in order to determine continued Commission registration eligibility for advisers registered under this rule. Responses generally are kept confidential pursuant to section 210(b) 1 17 CFR 275.203A–2(e). in rule 203A–2(e) is a limited exception to the interactive website requirement which allows these advisers to provide investment advice to fewer than 15 clients through other means on an annual basis. 17 CFR 275.203A–2(e)(1)(i). The rule also precludes advisers in a control relationship with an SEC-registered internet adviser from registering with the Commission under the common control exemption provided by rule 203A– 2(b) (17 CFR 275.203A–2(b)). 17 CFR 275.203A– 2(e)(1)(iii). 3 15 U.S.C. 80b–3a(a). 4 Id. 5 The five-year record retention period is a similar recordkeeping retention period as imposed on all advisers under rule 204–2 of the Advisers Act. See rule 204–2 (17 CFR 275.204–2). 6 17 CFR 275.203A–2(e)(1)(ii). lotter on DSK11XQN23PROD with NOTICES1 2 Included VerDate Sep<11>2014 17:41 Jan 17, 2023 Jkt 259001 of the Advisers Act.7 Written comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the Commission, including whether the information has practical utility; (b) The accuracy of the Commission’s estimate of the burden of the collection of information; (c) Ways to enhance the quality, utility, and clarity of the information collected; and (d) Ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. Consideration will be given to comments and suggestions submitted in writing within 60 days of this publication. An agency may not conduct or sponsor a collection of information unless it displays a currently valid OMB control number. No person shall be subject to any penalty for failing to comply with a collection of information subject to the PRA that does not display a valid OMB control number. Written comments are invited on: (a) whether the proposed collection of information is necessary for the proper performance of the functions of the Commission, including whether the information shall have practical utility; (b) the accuracy of the Commission’s estimate of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. Consideration will be given to comments and suggestions submitted by March 20, 2023. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information under the PRA unless it displays a currently valid OMB control number. Please direct your written comments to: David Bottom, Acting Director/Chief Information Officer, Securities and Exchange Commission, c/o John Pezzullo, 100 F Street NE, Washington, DC 20549 or send an email to: PRA_ Mailbox@sec.gov. Dated: January 11, 2023. Sherry R. Haywood, Assistant Secretary. [FR Doc. 2023–00779 Filed 1–17–23; 8:45 am] BILLING CODE 8011–01–P 7 15 PO 00000 U.S.C. 80b–10(a). Frm 00106 Fmt 4703 Sfmt 4703 SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–181, OMB Control No. 3235–0184] Proposed Collection; Comment Request; Extension: Form S–6 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’’) is soliciting comments on the collection of information summarized below. The Commission plans to submit this existing collection of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval. 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 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 E:\FR\FM\18JAN1.SGM 18JAN1 lotter on DSK11XQN23PROD with NOTICES1 Federal Register / Vol. 88, No. 11 / Wednesday, January 18, 2023 / Notices 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 1,019 initial registration statements filed on Form S– 6 annually and approximately 607 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 68,365 hours. We estimate that the cost burden of preparing and filing an initial registration statement on Form S–6 is $38,825 and for preparing and filing a post-effective amendment is $23,434. Therefore, we estimate that the total cost burden of preparing and filing registration statements on Form S–6 for all affected UITs is $53,787,113. Estimates of average burden hours and costs are made solely for 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 information collection 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. Written comments are invited on: (a) whether the proposed collection of information is necessary for the proper performance of the functions of the Commission, including whether the information shall have practical utility; (b) the accuracy of the Commission’s estimate of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information collected; and (d) ways to minimize the burden of the collection of information on respondents, including VerDate Sep<11>2014 17:41 Jan 17, 2023 Jkt 259001 2983 through the use of automated collection techniques or other forms of information technology. Consideration will be given to comments and suggestions submitted by March 20, 2023. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information under the PRA unless it displays a currently valid OMB control number. Please direct your written comments to: David Bottom, Acting Director/Chief Information Officer, Securities and Exchange Commission, c/o John Pezzullo, 100 F Street NE, Washington, DC 20549 or send an email to: PRA_ Mailbox@sec.gov. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change Dated: January 11, 2023. Sherry R. Haywood, Assistant Secretary. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change [FR Doc. 2023–00773 Filed 1–17–23; 8:45 am] BILLING CODE 8011–01–P 1. Purpose SECURITIES AND EXCHANGE COMMISSION [Release No. 34–96638; File No. SR–Phlx– 2023–02] Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Options 7, Section 4 January 11, 2023. Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on January 3, 2023, Nasdaq PHLX LLC (‘‘Phlx’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘SEC’’ or ‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend Phlx’s Pricing Schedule at Options 7, Section 4. The text of the proposed rule change is available on the Exchange’s website at https://listingcenter.nasdaq.com/ rulebook/phlx/rules, at the principal office of the Exchange, and at the Commission’s Public Reference Room. 1 15 2 17 PO 00000 U.S.C. 78s(b)(1). CFR 240.19b–4. Frm 00107 Fmt 4703 In its filing with the Commission, the Exchange included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. Sfmt 4703 Phlx proposes to amend its Pricing Schedule at Options 7, Section 4, ‘‘Multiply Listed Options Fees (Includes options overlying equities, ETFs, ETNs and indexes which are Multiply Listed) (Excludes SPY and broad-based index options symbols listed within Options 7, Section 5.A).’’ Specifically, Phlx proposes an increase to its Qualified Contingent Cross (‘‘QCC’’) rebates that are paid by the Exchange in a given month. Today, the Exchange assesses a $0.20 per contract QCC Transaction Fee for a Lead Market Maker,3 Market Maker,4 3 The term ‘‘Lead Market Maker’’ applies to transactions for the account of a Lead Market Maker (as defined in Options 2, Section 12(a)). A Lead Market Maker is an Exchange member who is registered as an options Lead Market Maker pursuant to Options 2, Section 12(a). An options Lead Market Maker includes a Remote Lead Market Maker which is defined as an options Lead Market Maker in one or more classes that does not have a physical presence on an Exchange floor and is approved by the Exchange pursuant to Options 2, Section 11. See Options 7, Section 1(c). The term ‘‘Floor Lead Market Maker’’ is a member who is registered as an options Lead Market Maker pursuant to Options 2, Section 12(a) and has a physical presence on the Exchange’s trading floor. See Options 8, Section 2(a)(3). 4 The term ‘‘Market Maker’’ is defined in Options 1, Section 1(b)(28) as a member of the Exchange who is registered as an options Market Maker pursuant to Options 2, Section 12(a). A Market Maker includes SQTs and RSQTs as well as Floor Market Makers. See Options 7, Section 1(c). The term ‘‘Floor Market Maker’’ is a Market Maker who is neither an SQT or an RSQT. A Floor Market Maker may provide a quote in open outcry. See Options 8, Section 2(a)(4). E:\FR\FM\18JAN1.SGM 18JAN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 88, Number 11 (Wednesday, January 18, 2023)]
[Notices]
[Pages 2982-2983]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-00773]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-181, OMB Control No. 3235-0184]


Proposed Collection; Comment Request; Extension: Form S-6

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'') is soliciting comments on the 
collection of information summarized below. The Commission plans to 
submit this existing collection of information to the Office of 
Management and Budget (``OMB'') for extension and approval.
    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 
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

[[Page 2983]]

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 1,019 initial 
registration statements filed on Form S-6 annually and approximately 
607 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 68,365 hours. We estimate that the cost burden 
of preparing and filing an initial registration statement on Form S-6 
is $38,825 and for preparing and filing a post-effective amendment is 
$23,434. Therefore, we estimate that the total cost burden of preparing 
and filing registration statements on Form S-6 for all affected UITs is 
$53,787,113.
    Estimates of average burden hours and costs are made solely for 
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 information collection 
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.
    Written comments are invited on: (a) whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information 
shall have practical utility; (b) the accuracy of the Commission's 
estimate of the burden of the collection of information; (c) ways to 
enhance the quality, utility, and clarity of the information collected; 
and (d) ways to minimize the burden of the collection of information on 
respondents, including through the use of automated collection 
techniques or other forms of information technology. Consideration will 
be given to comments and suggestions submitted by March 20, 2023.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information under the PRA unless it 
displays a currently valid OMB control number.
    Please direct your written comments to: David Bottom, Acting 
Director/Chief Information Officer, Securities and Exchange Commission, 
c/o John Pezzullo, 100 F Street NE, Washington, DC 20549 or send an 
email to: [email protected].

    Dated: January 11, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-00773 Filed 1-17-23; 8:45 am]
BILLING CODE 8011-01-P

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