Form T-1 60 Day Federal Register Notice

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Federal Register / Vol. 87, No. 45 / Tuesday, March 8, 2022 / Notices

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 semiannual 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 125 hours per respondent. The
Commission estimates that there are
currently approximately 660 UITs that
file 1,320 reports per year. Therefore,
the Commission estimates that the total
hour burden is approximately 82,500
hours. In addition to the burden hours,
the Commission estimates that the
annual cost of contracting for outside

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services associated with rule 30e–2 is
$20,000 per respondent, or $6,667 per
respondent that transmits reports
electronically, for a total cost of
approximately $5,280,198.
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.
The public may view the background
documentation for this information
collection at the following website,
www.reginfo.gov. Comments should be
directed to: (i) Desk Officer for the
Securities and Exchange Commission,
Office of Information and Regulatory
Affairs, Office of Management and
Budget, Room 10102, New Executive
Office Building, Washington, DC 20503,
or by sending an email to:
[email protected]; and (ii)
David Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Cynthia
Roscoe, 100 F Street NE, Washington,
DC 20549 or send an email to: PRA_
[email protected]. Written comments
and recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice to www.reginfo.gov/public/do/
PRAMain. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function.
Dated: March 2, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022–04800 Filed 3–7–22; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–121, OMB Control No.
3235–0110]

Proposed Collection; Comment
Request
Upon Written Request Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
Extension:
Form T–1

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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 for extension
and approval.
Form T–1 (17 CFR 269.1) is a
statement of eligibility and qualification
under the Trust Indenture Act of 1939
(15 U.S.C. 77aaa et seq.) of a corporation
designated to act as a trustee under an
indenture. The information is used to
determine whether the corporation is
qualified to serve as a trustee. Form T–
1 takes approximately 15 hours per
response to prepare and is filed by
approximately 2 respondents. We
estimate that 25% of the 15 hours (4
hours per response) is prepared by the
company for a total reporting burden of
8 hours (4 hours per response × 2
responses).
Written comments are invited on: (a)
Whether this 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 imposed by 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 by May 9, 2022.
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.
Please direct your written comment to
David Bottom, 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_
[email protected].
Dated: March 2, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022–04797 Filed 3–7–22; 8:45 am]
BILLING CODE 8011–01–P

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