[Federal Register Volume 62, Number 225 (Friday, November 21, 1997)]
[Proposed Rules]
[Page 62273]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-30629]


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SECURITIES AND EXCHANGE COMMISSION

17 CFR Part 230

[Release No. 33-7476; File No. S7-22-97]
RIN 3235-AH23


Equity Index Insurance Products

AGENCY: Securities and Exchange Commission.

ACTION: Concept release; extension of comment period.

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SUMMARY: The Commission is extending from November 20, 1997, to January 
5, 1998, the comment period for Securities Act Release No. 7438 (Aug. 
20, 1997), 62 FR 45359 (Aug. 27, 1997). This release requested public 
comment on the structure of equity index insurance products, the manner 
in which they are marketed, and any other matters the Commission should 
consider in addressing federal securities law issues raised by equity 
index insurance products.

DATES: Comments must be received on or before January 5, 1998.

ADDRESSES: Comments should be submitted in triplicate to Jonathan G. 
Katz, Secretary, Securities and Exchange Commission, 450 Fifth Street, 
N.W., Washington, D.C. 20549-6009. Comments also may be submitted 
electronically at the following E-mail address: <a href="/cdn-cgi/l/email-protection#d5a7a0b9b0f8b6bab8b8b0bba1a695a6b0b6fbb2baa3"><span class="__cf_email__" data-cfemail="3240475e571f515d5f5f575c4641724157511c555d44">[email protected]</span></a>. 
All comment letters should refer to File No. S7-22-97; this file number 
should be included on the subject line if E-mail is used. All comments 
received will be available for public inspection and copying in the 
Commission's Public Reference Room, 450 Fifth Street, N.W., Washington, 
D.C. 20549-6009. Electronically submitted comments will also be posted 
on the Commission's internet site (http://www.sec.gov).

FOR FURTHER INFORMATION CONTACT: Megan L. Dunphy, Attorney, (202) 942-
0670, Office of Insurance Products, Division of Investment Management, 
Securities and Exchange Commission, 450 Fifth Street, N.W., Mail Stop 
10-6, Washington, D.C. 20549-6009.

SUPPLEMENTARY INFORMATION: On August 20, 1997, the Commission issued a 
concept release soliciting comment on the structure of equity index 
insurance products, the manner in which they are marketed, and any 
other matters the Commission should consider in addressing federal 
securities law issues raised by equity index insurance products.\1\ The 
Commission requested that comments on the release be received by 
November 20, 1997.
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    \1\ Securities Act Rel. No. 7438 (Aug. 20, 1997) [62 FR 45359 
(Aug. 27, 1997)].
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    In a letter dated November 3, 1997, the American Council of Life 
Insurance (``ACLI'') requested a 45-day extension of time within which 
to comment on the concept release.\2\ The ACLI requested the extension 
to provide an opportunity for careful analysis and constructive comment 
on the release.
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    \2\ Letter from Carl B. Wilkerson, Senior Counsel, American 
Council of Life Insurance, to Jonathan G. Katz, Secretary, U.S. 
Securities and Exchange Commission (Nov. 3, 1997).
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    To permit additional time for careful analysis and constructive 
comment, and in light of the importance of comments on this subject, 
the Commission believes that a 45-day extension of the comment period 
is appropriate. Therefore, the comment period for responding to 
Securities Act Release No. 7438 is extended to January 5, 1998.

    November 17, 1997.

    By the Commission.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 97-30629 Filed 11-20-97; 8:45 am]
BILLING CODE 8010-01-P


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