Correspondence 0001445546-23-002760 from FT 10693 (CIK 0001966059)
FT 10693 (CIK 0001966059)
Date: April 25, 2023 · CIK: 0001966059 · Accession: 0001445546-23-002760
AI Filing Summary & Sentiment
File numbers found in text: 333-270691
Letter
Division of Investment Management Re: FT 10693 Diversified Assets Portfolio, Series 12 (the “Trust”) CIK No. 1966059 File No. 333-270691
Dear Mr. Cowan:
We received your comments regarding the Registration Statement for the above captioned Trust. This letter serves to respond to your comments.
Comments
Portfolio
1.If the ETFs the portfolio invests in are affiliated, please include the conflict disclosure that was agreed upon in prior filings.
Response:If the Trust has exposure to any ETFs which are advised by First Trust Advisors L.P., an affiliate of the Trust’s Sponsor, appropriate disclosure will be added to the Trust’s prospectus.
Risk Factors
2.If the underlying ETFs invest in bonds that reference LIBOR, please add risk disclosure.
Response:If, based on the Trust’s final portfolio, the Trust has exposure to Funds that invest in bonds that reference LIBOR, appropriate disclosure will be added to the Trust’s prospectus.
3.If the Funds held by the Trust invest in subprime residential mortgage loans, please add relevant risk disclosure.
Response:In accordance with the Staff’s comment, if the Trust’s final portfolio has exposure to funds that invest in subprime residential mortgage loans, appropriate disclosure will be added to the Trust’s prospectus.
4.The Staff notes that the Funds held by the Trust invest in companies with various market capitalizations. If it is a principal risk of the Trust, please include investments in small and/or mid capitalization companies.
Response:In accordance with the Staff’s comment, if the Trust’s final portfolio has exposure to funds that invest in small and/or mid capitalization companies, appropriate disclosure will be added to the Trust’s prospectus.
We appreciate your prompt attention to this Registration Statement. If you have any questions or comments or would like to discuss our responses to your questions, please feel free to contact Brian D. Free at (312) 845-3017 or the undersigned at (312) 845-3721.
Very truly yours,
Chapman and Cutler llp
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Chapman and Cutler LLP
320 South Canal Street, 27th Floor
Chicago, Illinois 60606
T 312.845.3000
F 312.701.2361
www.chapman.com
April 25, 2023
Mark Cowan
U.S. Securities and Exchange Commission
Division of Investment Management
Disclosure Review Office
100 F Street, N.E.
Washington, D.C. 20549
Re:
FT 10693
Diversified Assets Portfolio, Series 12
(the “Trust”)
CIK No. 1966059 File No. 333-270691
Dear Mr. Cowan:
We received your comments
regarding the Registration Statement for the above captioned Trust. This letter serves to respond to your comments.
Comments
Portfolio
1.If
the ETFs the portfolio invests in are affiliated, please include the conflict disclosure that was agreed upon in prior filings.
Response:If
the Trust has exposure to any ETFs which are advised by First Trust Advisors L.P., an affiliate of the Trust’s Sponsor, appropriate
disclosure will be added to the Trust’s prospectus.
Risk Factors
2.If
the underlying ETFs invest in bonds that reference LIBOR, please add risk disclosure.
Response:If,
based on the Trust’s final portfolio, the Trust has exposure to Funds that invest in bonds that reference LIBOR, appropriate disclosure
will be added to the Trust’s prospectus.
3.If
the Funds held by the Trust invest in subprime residential mortgage loans, please add relevant risk disclosure.
Response:In
accordance with the Staff’s comment, if the Trust’s final portfolio has exposure to funds that invest in subprime residential
mortgage loans, appropriate disclosure will be added to the Trust’s prospectus.
4.The
Staff notes that the Funds held by the Trust invest in companies with various market capitalizations. If it is a principal risk of the
Trust, please include investments in small and/or mid capitalization companies.
Response:In
accordance with the Staff’s comment, if the Trust’s final portfolio has exposure to funds that invest in small and/or mid
capitalization companies, appropriate disclosure will be added to the Trust’s prospectus.
We appreciate your prompt attention
to this Registration Statement. If you have any questions or comments or would like to discuss our responses to your questions, please
feel free to contact Brian D. Free at (312) 845-3017 or the undersigned at (312) 845-3721.
Very truly yours,
Chapman and Cutler llp
By:
/s/ Daniel J. Fallon
Daniel J. Fallon