Notice2024-10252
Proposed Collection; Comment Request; Extension: Form N-6
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
May 10, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 92 (Friday, May 10, 2024)</title>
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[Federal Register Volume 89, Number 92 (Friday, May 10, 2024)]
[Notices]
[Pages 40519-40520]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-10252]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-446, OMB Control No. 3235-0503]
Proposed Collection; Comment Request; Extension: Form N-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 for extension and approval.
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 448 registration
statements (20 initial registration statements plus 428 post-effective
amendments) 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 772.25 hours. The estimated annual hour burden
for preparing and filing initial registration statements is 15,445
hours (20 initial registration statements annually times 772.25 hours
per registration statement). The Commission estimates that the hour
burden for preparing and filing a post-effective amendment on Form N-6
is 154.25 hours. The total annual hour burden for preparing and filing
post-effective amendments is 66,019 hours (428 post-effective
amendments annually times 154.25 hours per amendment). The frequency of
response is annual. The total annual hour burden for Form N-6,
therefore, is estimated to be 81,464 hours (15,445 hours for initial
registration statements plus 66,019 hours for post-effective
amendments).
The Commission estimates that the cost burden for preparing an
initial Form N-6 filing is $40,000 per filing and the current cost
burden for preparing a post-effective amendment to a previously
effective registration statement is $20,000 per filing. Thus, the total
cost burden allocated to Form N-6 would be $9,360,000 (20 initial
filings times $40,000 and 428 post-effective amendment filings times
$20,000).
The information collection requirements imposed by Form N-6 are
mandatory. Responses to the collection of information will not be kept
[[Page 40520]]
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.
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 July 9, 2024.
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, Chief
Information Officer, Securities and Exchange Commission, c/o John
Pezzullo, 100 F Street NE, Washington, DC 20549 or send an email to:
<a href="/cdn-cgi/l/email-protection#401012011f0d21292c222f38003325236e272f36"><span class="__cf_email__" data-cfemail="3e6e6c7f61735f57525c51467e4d5b5d10595148">[email protected]</span></a>.
Dated: May 7, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-10252 Filed 5-9-24; 8:45 am]
BILLING CODE 8011-01-P
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