[Federal Register Volume 65, Number 28 (Thursday, February 10, 2000)]
[Notices]
[Pages 6644-6645]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-3032]


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SECURITIES AND EXCHANGE COMMISSION


Request for Public Comment

    Upon Written Request, Copies Available From: Securities and 
Exchange Commission, Office of Filings and Information Services, 
Washington, D.C. 20549.
    Extension: Rule 6e-2, SEC File No. 270-177, OMB Control No. 
3235-0177.

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange 
Commission (``Commission'') is publishing the following summary of 
collection for public comment.
    Rule 6e-2 [17 CFR 270.6e-2] under the Investment Company Act of 
1940 (``Act'') is an exemptive rule which permits separate accounts, 
formed by life insurance companies, to fund certain variable life 
insurance products. The rule exempts such separate accounts from the 
registration

[[Page 6645]]

requirements under the Act, among others, on condition that they comply 
with all but certain designated provisions of the Act and meet the 
other requirements of the rule. The rule sets forth several information 
collection requirements.
    Rule 6e-2 provides a separate account with an exemption from the 
registration provisions of section 8 of the Act if the account files 
with the Commission Form N-6EI-1, a notification of claim of exemption.
    The rule also exempts a separate account from a number of other 
sections of the Act, provided that the separate account makes certain 
disclosure in its registration statements, reports to contractholders, 
proxy solicitations, and submissions to state regulatory authorities, 
as prescribed by the rule.
    Paragraph (b)(9) of Rule 6e-2 provides an exemption from the 
requirements of section 17(f) of the Act and imposes a reporting burden 
and certain other conditions. Section 17(f) requires that every 
registered management company meet various custody requirements for its 
securities and similar investments. Paragraph (b)(9) applies only to 
management accounts that offer life insurance contracts subject to Rule 
6e-2.
    Since 1997, there have been no filings under paragraph (b)(9) of 
Rule 6e-2 by management accounts. Further, all variable life separate 
accounts that have filed post-effective amendments to their 
registration statements during this period have been structured as unit 
investment trusts and thus have not been subject to the requirements of 
paragraph (b)(9) of the rule. Therefore, since 1997, there has been no 
cost or burden to the industry regarding the information collection 
requirements of paragraph (b)(9) of Rule 6e-2.
    Written comments are invited on: (a) whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the agency, including whether the information shall 
have practical utility; (b) the accuracy of the agency's estimate of 
the burden of the proposed collection of information; (c) ways to 
enhance the quality, utility, and clarity of the information to be 
collected; and (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology. 
Consideration will be given to comments and suggestions submitted in 
writing within 60 days of this publication.
    Direct your written comments to Michael E. Bartell, Associate 
Executive Director, Office of Information Technology, Securities and 
Exchange Commission, 450 Fifth Street, N.W. Washington, D.C. 20549.

    Dated: February 3, 2000.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 00-3032 Filed 2-9-00; 8:45 am]
BILLING CODE 8010-01-M