[Federal Register Volume 68, Number 50 (Friday, March 14, 2003)]
[Notices]
[Page 12392]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-6191]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

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. 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 soliciting comments on the collection of 
information summarized below. The commission plans to submit this 
existing collection to the Office of Management and Budget for 
extension and approval.
    Rule 6e-2 [17 CFR 270.6e-2] under the Investment Company Act of 
1940 (``Act''), is an exemptive rule that 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(a) 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 2000, 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 2000, there has been no 
cost or burden to the industry regarding the information collection 
requirements of paragraph (b)(9) of rule 6e-2. In addition, there have 
been no filings of Form N-6EI-1 by separate accounts since 2000. 
Therefore there has been no cost or burden to the industry since that 
time.
    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 Kenneth A. Fogash, Acting Associate 
Executive Director/CIO, Office of Information Technology, Securities 
and Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549.

    Dated: March 7, 2003.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 03-6191 Filed 3-13-03; 8:45 am]
BILLING CODE 8010-01-P