Notice2024-15486
Submission for OMB Review; 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
July 16, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 136 (Tuesday, July 16, 2024)</title>
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[Federal Register Volume 89, Number 136 (Tuesday, July 16, 2024)]
[Notices]
[Page 57952]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-15486]
[[Page 57952]]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-446, OMB Control No. 3235-0503]
Submission for OMB Review; 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'') 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 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
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.
The public may view background documentation for this information
collection at the following website: <a href="http://www.reginfo.gov">www.reginfo.gov</a>. Find this
particular information collection by selecting ``Currently under 30-day
Review--Open for Public Comments'' or by using the search function.
Written comments and recommendations for the proposed information
collection should be sent within 30 days of publication of this notice
by August 15, 2024 to (i) <a href="/cdn-cgi/l/email-protection#b8f5fae096f7f5fa96f7f1eaf996ebfdfbe7dcddcbd3e7d7deded1dbddcaf8d7d5da96ddd7c896dfd7ce"><span class="__cf_email__" data-cfemail="58151a007617151a7617110a19760b1d1b073c3d2b3307373e3e313b3d2a1837353a763d3728763f372e">[email protected]</span></a> and
(ii) Austin Gerig, Director/Chief Data Officer, Securities and Exchange
Commission, c/o Oluwaseun Ajayi, 100 F Street NE, Washington, DC 20549,
or by sending an email to: <a href="/cdn-cgi/l/email-protection#1f4f4d5e40527e76737d70675f6c7a7c31787069"><span class="__cf_email__" data-cfemail="eebebcafb1a38f87828c8196ae9d8b8dc0898198">[email protected]</span></a>.
Dated: July 10, 2024.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2024-15486 Filed 7-15-24; 8:45 am]
BILLING CODE 8011-01-P
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