Document ID: SEC-2007-1019-0001
Agency: sec
Document Type: Notice
Title: Agency information collection activities; proposals, submissions, and approvals
Posted Date: 2007-07-30T04:00Z

[Federal Register: July 30, 2007 (Volume 72, Number 145)]
[Notices]               
[Page 41532-41533]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr30jy07-84]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Proposed Collection; Comment Request

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

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 (``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).'' Unit investment trusts offering their securities to the 
public are required by two separate statutes to file registration 
statements with the Commission. They are required to register their 
securities under the Securities Act of 1933 (15 U.S.C. 77a et seq.) 
(``Securities Act''), and to register as investment companies under the 
Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) (``Investment 
Company Act'').
    Form S-6 is used for registration under the Securities Act of the 
securities of any unit investment trust that is registered under the 
Investment

[[Page 41533]]

Company Act on Form N-8B-2.\1\ A separate registration statement under 
the Securities Act must be filed for each series of units issued by the 
trust. Form S-6 consists of, among other things, a prospectus, certain 
written consents, an undertaking to file supplementary information, and 
certain exhibits containing financial and other information required in 
the registration statement but not required to appear in the 
prospectus.
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    \1\ Form N-8B-2 is the form used by unit investment trusts to 
register as investment companies under the Investment Company Act 
(except for unit investment trusts that are insurance company 
separate accounts issuing variable annuity or variable life 
insurance contracts, which instead register on Form N-4 and Form N-
6, respectively). The form requires that certain material 
information about the trust, its sponsor, its trustees, and its 
operation be disclosed. The registration on Form N-8B-2 is a one-
time filing that applies to the first series of the unit investment 
trust as well as any subsequent series that is issued by the 
sponsor.
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    Section 10(a)(3) of the Securities Act (15 U.S.C. 77j(a)(3)) 
provides, in pertinent part, that when a prospectus is used more than 
nine months after the effective date of the registration statement, the 
information contained therein shall be as of a date not more than 
sixteen months prior to such use. As a result, most unit investment 
trusts that are registered under the Investment Company Act on Form N-
8B-2 update their registration statements on Form S-6 on an annual 
basis so that their sponsors may continue to maintain a secondary 
market in the units.
    The purpose of the registration statement on Form S-6 is to provide 
disclosure of financial and other information that investors may use to 
make informed decisions regarding the merits of the securities offered 
for sale. To that end, unit investment trusts that are registered under 
the Investment Company Act on Form N-8B-2 must furnish to investors a 
prospectus containing pertinent information set forth in the 
registration statement. The Commission reviews registration statements 
filed on Form S-6 to ensure adequate disclosure is made to investors.
    The Commission estimates that each year unit investment trusts file 
approximately 1,353 Forms S-6. It is estimated that preparing Form S-6 
requires a unit investment trust to spend approximately 35 hours so 
that the total burden of preparing Form S-6 for all affected unit 
investment trusts is 47,355 hours. 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.
    The collection of information on Form S-6 is mandatory. The 
information provided on Form S-6 is 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.
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the agency, including whether the information will 
have practical utility; (b) the accuracy of the agency'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 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.
    Please direct your written comments to R. Corey Booth, Director/
Chief Information Officer, Securities and Exchange Commission, C/O 
Shirley Martinson, 6432 General Green Way, Alexandria, Virginia 22312; 
or send an e-mail to: PRA_Mailbox@sec.gov.

    Dated: July 23, 2007.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-14629 Filed 7-27-07; 8:45 am]

BILLING CODE 8010-01-P