The Securities and Exchange Commission (SEC) has requested an extension from the Office of Management and Budget (OMB) for the continued collection of information under Rule 30e-2. This rule requires unit investment trusts (UITs) to send financial reports to their unitholders and allows for "householding," where investors who share an address can receive a single report if they have given assent. The SEC estimates the annual burden for complying with this rule is 15 hours per respondent, affecting about 671 UITs, with a total cost of $4,495,700. Public comments on this request are invited until 30 days after the publication of this notice.
Simple Explanation
The Securities and Exchange Commission (SEC) wants more time to keep asking certain types of investment groups, called UITs, to send money reports to people who have invested with them. The plan is to let family members who live together get just one report, and people can tell the SEC what they think about this idea.