[Federal Register Volume 87, Number 45 (Tuesday, March 8, 2022)]
[Notices]
[Pages 13033-13034]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-04800]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-437, OMB Control No. 3235-0494]


Submission for OMB Review; Comment Request; Extension: Rule 30e-2

    Notice is hereby given that, under the Paperwork Reduction Act of 
1995 (44 U.S.C. 3501 et seq.), (``Paperwork Reduction Act'') 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 30e-2 (17 CFR 270.30e-2) under the Investment Company Act of 
1940 (15 U.S.C. 80a-1 et seq.) (``Investment Company Act'') requires 
registered unit investment trusts (``UITs'') that invest substantially 
all of their assets in shares of a management investment company 
(``fund'') to send their unitholders annual and semiannual reports 
containing financial information on the underlying company. 
Specifically, rule

[[Page 13034]]

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 semi-annual 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 
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: 
[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


