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###### Securities and Exchange Commission

          - 17 CFR Parts 230 and 240
          - [Release Nos. 33-8976, 34-58769; File No. S7-14-08] 
          - RIN 3235-AK16 

# AGENCY:

Securities and Exchange Commission. 

# ACTION:

Proposed rule; reopening of comment period.

# SUMMARY:

The Securities and Exchange Commission is reopening the period for public comment on new rules that it originally proposed in Securities Act Release No. 8933 (June 25, 2008) [73 FR 37752 (July 1, 2008)]. The Commission proposed a rule that would, if adopted, define the terms “annuity contract” and “optional annuity contract” under the Securities Act of 1933. The proposed rule is intended to clarify the status under the federal securities laws of indexed annuities. The Commission also proposed to exempt insurance companies from filing reports under the Securities Exchange Act of 1934 with respect to indexed annuities and other securities that are registered under the Securities Act, provided that the securities are regulated under state insurance law, the issuing insurance company and its financial condition are subject to supervision and examination by a state insurance regulator, and the securities are not publicly traded. 

# DATES:

Comments should be received on or before November 17, 2008. 

# ADDRESSES:

Comments may be submitted by any of the following methods: 

### Electronic Comments 

      - Use the Commission's Internet comment form ( http://www.sec.gov/​rules/​proposed.shtml );                 
      - Send an e-mail to rule-comments@sec.gov.                      Please include File No. S7-14-08 on the subject line; or                 
      - Use the Federal eRulemaking Portal ( http://www.regulations.gov ). Follow the instructions for submitting comments.                 

### Paper Comments 

      - Send paper comments in triplicate to Florence E. Harmon, Acting Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090.

                    All submissions should refer to File No. S7-14-08. This file number should be included on the subject line if e-mail is used. To help us process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission's Internet Web site (                    *http://www.sec.gov*). Comments are also available for public inspection and copying in the Commission's Public Reference Room, 100 F Street, NE., Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. All comments received will be posted without change; we do not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly.                 

# FOR FURTHER INFORMATION CONTACT:

Keith E. Carpenter, Senior Special Counsel, Office of Disclosure and Insurance Product Regulation, Division of Investment Management, at (202) 551-6795, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-5720. 

# SUPPLEMENTARY INFORMATION:

                    The Securities and Exchange Commission (“Commission”) is reopening the period for public comment on a proposed rule that would define the terms “annuity contract” and “optional annuity contract” under the Securities Act of 1933. The proposed rule is intended to clarify the status under the federal securities laws of indexed annuities, under which payments to the purchaser are dependent on the performance of a securities index. The Commission is also reopening the period for public comment on a proposed rule that would, if adopted, exempt insurance companies from filing reports under the Securities Exchange Act of 1934 with respect to indexed annuities and other securities that are registered under the Securities Act, provided that the securities are regulated under state insurance law, the issuing insurance company and its financial condition are subject to supervision and examination by a state insurance regulator, and the securities are not publicly traded. The rules were proposed on June 25, 2008,[1]       ( print page 61754)                        and the comment period initially closed on September 10, 2008.                 

                    The Commission has received numerous letters, including from state insurance commissioners, members of Congress, and others, requesting that the comment period be extended.[2]                                          In general, these commenters indicated that an extension would help them analyze the proposal and prepare meaningful comments. In order to provide additional time for the public to thoroughly consider the proposal, and in view of the significant continuing public interest in the proposal, the Commission believes that it is appropriate to reopen the comment period. Accordingly, we will reopen the comment period for an additional 30 days.                 

By the Commission. 

Dated: October 10, 2008. 

Florence E. Harmon, 

Acting Secretary.

# Footnotes

1.                             Indexed Annuities and Certain Other Insurance Contracts, Securities Act Release No. 8933 (June 25, 2008) [73 FR 37752 (July 1, 2008)].                     
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2.                             Comments on the proposal are available at                         *http://www.sec.gov/​comments/​s7-14-08/​s71408.shtml.*
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[FR Doc. E8-24625 Filed 10-16-08; 8:45 am] 

BILLING CODE 8011-01-P