What Is SEC Form S-6?

SEC Form S-6 is an initial registration statement which unit investment trusts (UITs) use to register securities that they plan to issue. Form S-6 is filed with the U.S. Securities and Exchange Commission (SEC) by UITs registered under the Investment Comp𒐪any Ac🍃t of 1940.

A 澳洲幸运5官方开奖结果体彩网:unit investment trust (UIT) is a type of 澳洲幸运5官方开奖结果体彩网:investment company that offers a fixed portfolio, generally of stocks and bonds, as redeemable units to investors for a specific period of time. It is designed to provide 澳洲幸运5官方开奖结果体彩网:capital appreciation and/or periodic income for investors.

Unlike mutual funds, UITs have a stated expiration date that is tied to the investments held in their portfolio. When the portfolio terminates, investors receive their pro-rata portion of the UIT's net assets.

Understanding SEC Form S-6

A more complete title of SEC Form S-6 is "Form S-6 for Registration Under the Securities Act of 1933 of Securities of Unit Investment Trusts Registered on Form N-8B-2." 

Since a unit investment trust offers investors a fixed portfolio that typically includes stocks and♐ bonds, all securities must be registered so that the SEC gets a complete overview of the investment and sec💯urities basket. 

The 澳洲幸运5官方开奖结果体彩网:Securities Act of 1933 is the "truth in securities" law. It requires that registration forms such as Form S-6 disclose important information with the registration of a company's securities.

SEC Form S-6 helps the SEC achieve the𝔍 objectives of this act by ensuring that investors receive pertinent information reg🎃arding securities to be offered, thereby prohibiting fraud in the sale of the offered securities. In this way, Form S-6 is akin to the prospectus that mutual fund companies must provide.

The five-page form is available on the SEC website. In addition, the SEC maintains a comprehensive list of all recent filings of various forms, including Form S-6. These are available for public viewing.

Example of an SEC Form S-6 Filing

On July 12, 2023, First Trust Portfolios LP filed SEC Form S-6 to register FT 10925, which consists of a "single portfolio known as Corporate Investment Grade Portfolio, 3-7 Year, Series 17."

More specifically, this UIT registration concerns a laddered portfolio o🍸f investment grade 🧜corporate bonds that seeks to distribute monthly income and preserve capital.

In the form, First Trust proceeds to provide preliminary information about the UIT which includes, but isn't limited to, details about the following:

• Summary of Essential Information
• Fee Table
• Statement of Net Assets
• Schedule of Investments
• Information about the overall series
• Portfolio Objectives
• Estimated Returns
• Risk Factors
• Public Offering
• Distribution of Units
• Expenses and Charges
• Tax Status
• Rights of Unit Holders
• Income and Capital Distributions
• Redeeming Your Units
• Information on the Sponsor and Trustee

The Bottom Line

SEC Form S-6 is a registration form filled o🤡ut by unit investment trusts that plan to offer a new security for sale. Form S-6 provides information to the SEC about the sec🐷urity. It is designed to meet the investment transparency requirements of the Securities Act of 1933. The information on Form S-6 is preliminary and, thus, Form S-6 is similar to a preliminary prospectus.