30 Day Notice

3235-0765.pdf

Rule 498A Summary Prospectus for Variable Annuity and Variable Life Insurance Contracts

30 Day Notice

OMB: 3235-0765

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Federal Register / Vol. 88, No. 230 / Friday, December 1, 2023 / Notices

Interested persons are invited to
submit written data, views, and
arguments regarding whether the
proposed rule change should be
approved or disapproved by December
22, 2023. Any person who wishes to file
a rebuttal to any other person’s
submission must file that rebuttal by
January 5, 2024.
Comments may be submitted by any
of the following methods:

SR–CboeBZX–2023–072 and should be
submitted on or before December 22,
2023. Rebuttal comments should be
submitted by January 5, 2024.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.29
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023–26488 Filed 11–30–23; 8:45 am]
BILLING CODE 8011–01–P

lotter on DSK11XQN23PROD with NOTICES1

Electronic Comments
• Use the Commission’s internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include file number SR–
CboeBZX–2023–072 on the subject line.
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street NE,
Washington, DC 20549–1090.
All submissions should refer to file
number SR–CboeBZX–2023–072. This
file number should be included on the
subject line if email is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
internet website (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for website viewing and
printing in the Commission’s Public
Reference Room, 100 F Street NE,
Washington, DC 20549, on official
business days between the hours of 10
a.m. and 3 p.m. Copies of the filing also
will be available for inspection and
copying at the principal office of the
Exchange. Do not include personal
identifiable information in submissions;
you should submit only information
that you wish to make available
publicly. We may redact in part or
withhold entirely from publication
submitted material that is obscene or
subject to copyright protection. All
submissions should refer to file number
comments—is appropriate for consideration of a
particular proposal by a self-regulatory
organization. See Securities Acts Amendments of
1975, Senate Comm. on Banking, Housing & Urban
Affairs, S. Rep. No. 75, 94th Cong., 1st Sess. 30
(1975).

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SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–813, OMB Control No.
3235–0765]

Submission for OMB Review;
Comment Request; Extension: Rule
498A
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
(‘‘Paperwork Reduction Act’’) (44 U.S.C.
3501–3520), the Securities and
Exchange Commission (the
‘‘Commission’’) has submitted to the
Office of Management and Budget
(‘‘OMB’’) a request for extension of the
previously approved collection of
information discussed below.
Rule 498A under the Securities Act
permits a person to satisfy its
prospectus delivery obligations under
section 5(b)(2) of the Securities Act for
a contract by: (1) sending or giving to
new investors key information
contained in a variable contract
statutory prospectus in the form of an
initial summary prospectus; (2) sending
or giving to existing investors each year
a brief description of certain changes to
the contract, and a subset of the
information in the initial summary
prospectus, in the form of an updating
summary prospectus; and (3) providing
the statutory prospectus and other
materials online. Rule 498A considers a
person to have met its prospectus
delivery obligations for any portfolio
companies associated with a variable
contract if the portfolio company
prospectuses are posted online. Under
the rule, a registrant (or the financial
intermediary distributing the variable
contract) relying on the rule must send
the variable contract statutory
prospectus (that statutory prospectus
must be filed as part of registration
statement on Form N–3, N–4, or N–6, as
29 17

PO 00000

applicable) and other materials to an
investor in paper or electronic format
upon request.
Based on an analysis of fund filings,
we estimate that 82% of variable
contracts that filed annual updates to
their registration statements use at least
one summary prospectus under rule
498A. In the aggregate, the Commission
staff estimates the total annual hour
burden to comply with rule 498A to be
7,634 hours, at an internal time cost
equivalent of $2,337,471, and a total
annual external cost burden of
$9,094,866.
The estimate of average burden hours
is made solely for the purposes of the
Paperwork Reduction Act. The estimate
is based on communications with
industry representatives, and is not
derived from a comprehensive or even
a representative survey or study.
Responses 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 background
documentation for this information
collection at the following website:
www.reginfo.gov. 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 January 2, 2024 to (i)
MBX.OMB.OIRA.SEC_desk_officer@
omb.eop.gov and (ii) David Bottom,
Director/Chief Information Officer,
Securities and Exchange Commission, c/
o John Pezzullo, 100 F Street NE,
Washington, DC 20549, or by sending an
email to: [email protected].
Dated: November 27, 2023.
Christina Z. Milnor,
Assistant Secretary.
[FR Doc. 2023–26405 Filed 11–30–23; 8:45 am]
BILLING CODE 8011–01–P

CFR 200.30–3(a)(57).

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