[Federal Register Volume 89, Number 213 (Monday, November 4, 2024)]
[Notices]
[Pages 87660-87661]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-25547]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-437, OMB Control No. 3235-0494]


Proposed Collection; Comment Request; Extension: Rule 30e-2

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.) (``Paperwork Reduction Act''), 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.
    Rule 30e-2 (17 CFR 270.30e-2) under the Investment Company Act of 
1940 (15 U.S.C. 80a-1 et seq.) (``Investment Company Act'') requires 
registered unit investment trusts (``UITs'') that invest substantially 
all of their assets in shares of a management investment company 
(``fund'') to send their unitholders annual and semiannual reports 
containing financial information on the underlying company. 
Specifically, rule 30e-2 requires that the report contain all the 
applicable information and financial statements or their equivalent, 
required by rule 30e-1 under the Investment Company Act (17 CFR 
270.30e-1) to be included in reports of the underlying fund for the 
same fiscal period. Rule 30e-1 requires that the underlying fund's 
report contain, among other things, the information that is required to 
be included in such reports by the fund's registration statement form 
under the Investment Company Act. The purpose of this requirement is to 
apprise current shareholders of the operational and financial condition 
of the UIT. Absent the requirement to disclose all material information 
in reports, investors would be unable to obtain accurate information 
upon which to base investment decisions and consumer confidence in the 
securities industry might be adversely affected. Requiring the 
submission of these reports to the Commission permits us to verify 
compliance with securities law requirements.
    Rule 30e-2, however, permits, under certain conditions, delivery of 
a single shareholder report to investors who share an address 
(``householding''). Specifically, rule 30e-2 permits householding of 
annual and semi-annual reports by UITs to satisfy the delivery 
requirements of rule 30e-2 if, in addition to the other conditions set 
forth in the rule, the UIT has obtained from each applicable investor 
written or implied consent to the householding of shareholder reports 
at such address. The rule requires UITs that wish to household 
shareholder reports with implied consent to send a notice to each 
applicable investor stating that the investors in the household will 
receive one report in the future unless the investors provide contrary 
instructions. In addition, at least once a year, UITs relying on the 
rule for householding must explain to investors who have provided 
written or implied consent how they can revoke their consent. The 
purpose of the notice and annual explanation requirements associated 
with the householding provisions of the rule is to ensure that 
investors who wish to receive individual copies of shareholder reports 
are able to do so.
    The Commission estimates that the annual burden associated with 
rule 30e-2 is 15 hours per respondent. The Commission estimates that 
there are currently approximately 660 UITs that file 1342 reports per 
year. Therefore, the Commission estimates that the total hour burden is 
approximately 10,065 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 $6,667 per respondent, for a 
total cost of approximately $4,495,700.
    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.
    Written comments are invited on: (a) whether the proposed 
collection of information is necessary for the proper

[[Page 87661]]

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 January 3, 2025.
    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: Austin Gerig, Director/
Chief Data Officer, Securities and Exchange Commission, c/o Tanya 
Ruttenberg, 100 F Street NE, Washington, DC 20549 or send an email to: 
<a href="/cdn-cgi/l/email-protection#69393b2836240800050b0611291a0c0a470e061f"><span class="__cf_email__" data-cfemail="4e1e1c0f11032f27222c21360e3d2b2d60292138">[email protected]</span></a>.

    Dated: October 29, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-25547 Filed 11-1-24; 8:45 am]
BILLING CODE 8011-01-P


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