[Federal Register Volume 61, Number 13 (Friday, January 19, 1996)]
[Proposed Rules]
[Pages 1312-1313]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-540]
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SECURITIES AND EXCHANGE COMMISSION
17 CFR Parts 230, 239, and 270
[Release Nos. 33-7253; IC-21663; S7-32-95]
RIN 3235-AG63
Calculation of Yield by Certain Unit Investment Trusts
AGENCY: Securities and Exchange Commission.
ACTION: Proposed amendments to rules and forms; extension of comment
period.
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SUMMARY: The Commission is extending from January 29, 1996 to March 29,
1996 the comment period for Investment Company Act Release No. 21538.
This release proposed for public comment rule and form amendments that
would require certain unit investment trusts (``UITs'') to use a
uniform formula to calculate yields quoted in their prospectuses,
advertisements, and sales literature.
DATES: Comments on the proposed amendments should be received on or
before March 29, 1996.
ADDRESSES: Comments should be submitted in triplicate to Jonathan G.
Katz, Secretary, Securities and Exchange Commission, 450 Fifth Street
NW., Washington, DC 20549. All comment letters should refer to File No.
S7-32-95. All comments received will be available for public inspection
and copying in the Commission's Public Reference Room, 450 Fifth Street
NW., Washington, DC 20549.
FOR FURTHER INFORMATION CONTACT: Anthony R. Bosch, Senior Attorney,
Office of Disclosure and Adviser Regulation, (202) 942-0721, Division
of Investment Management, Securities and Exchange Commission, 450 Fifth
Street NW., Washington, DC 20549.
SUPPLEMENTARY INFORMATION: On November 22, 1995 the Commission
published Investment Company Act Release No. 21538 which proposed for
comment rule and form amendments that would standardize the calculation
of yield quoted in the prospectuses, advertisements, and sales
literature of certain UITs.1 The Commission requested that
comments on the proposal be received by January 29, 1996.
\1\ Investment Company Act Rel. No. 21538 (Nov. 22, 1995) [60 FR
61454 (Nov. 29, 1995)].
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In a letter dated December 14, 1995 the Investment Company
Institute (``ICI'') requested a 60-day extension for the period for
commenting on the proposal.2 The ICI requested the extension to
allow additional time for further research, data generation, analysis,
and discussion.
\2\ Letter from Craig S. Tyle, Vice President and Senior
Counsel, Investment Company Institute, to Barry P. Barbash,
Director, Division of Investment Management (Dec. 14, 1995).
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To permit additional time for research, data generation, analysis,
and discussion and in light of the importance of comments on this
subject, the Commission believes that a 60-day extension is
appropriate. The comment
[[Page 1313]]
period for responding to Investment Company Act Release No. 21538 is
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extended to March 29, 1996.
Dated: January 11, 1996.
By the Commission.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 96-540 Filed 1-18-96; 8:45 am]
BILLING CODE 8010-01-P
