[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