[Federal Register Volume 65, Number 74 (Monday, April 17, 2000)]
[Notices]
[Pages 20494-20495]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-9485]


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SECURITIES AND EXCHANGE COMMISSION


Requests Under Review by Office of Management and Budget

    Upon Written Request, Copies Available From: Securities and 
Exchange Commission, Office of Filings and Information Services, 
Washington, DC 20549.

Extension:
    Rule 6e-2, SEC File No. 207-177, 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'') has submitted to the Office of Management 
and Budget a request for approval of extension on the following rule:
    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 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 
series 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, thee has been no 
cost or burden to the industry regarding the information collection 
requirements of paragraph (b)(9) of Rule 6e-2.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless its displays a 
currently valid control number.
    Written comments regarding the above information should be directed 
to the following persons: (i) Desk Officer for the Securities and 
Exchange Commission, Office of Information and Regulatory Affairs, 
Office of Management and Budget, Room 10102, New Executive Office 
Building, Washington, DC 20503; and (ii) Michael E. Bartell, Associate 
Executive Director, Office of Information Technology, Securities and 
Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549. 
Comments must be submitted to OMB within 30 days of this notice.

    Dated: April 10, 2000.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 00-9485 Filed 4-14-00; 8:45 am]
BILLING CODE 8010-01-M