Custody of Investment Company Assets With Futures Commission Merchants and Commodity Clearing OrganizationsExtension of Comment Period

SECURITIES AND EXCHANGE COMMISSION

17 CFR Part 270

[Release No. IC-20430, File No. S7-15-94]

RIN 3235-AF97

Custody of Investment Company Assets With Futures Commission

Merchants and Commodity Clearing Organizations--Extension of Comment

Period

AGENCY: Securities and Exchange Commission.

ACTION: Proposed rule and request for comment; extension of comment

period.

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

SUMMARY: The Commission is extending from August 1, 1994 to September

30, 1994 the comment period for Investment Company Release No. 20313,

which proposed rule 17f-6 under the Investment Company Act of 1940.

DATES: Comments must be received on or before September 30, 1994.

ADDRESSES: Comments should be submitted in triplicate to Jonathan G.

Katz, Secretary, Securities and Exchange Commission, 450 Fifth Street

NW., Stop 6-9, Washington, DC 20549. All comment letters should refer

to File No. S7-15-94. 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:

Elizabeth R. Krentzman, Special Counsel, or Diane C. Blizzard,

Assistant Director, at (202) 942-0690, Office of Regulatory Policy,

Division of Investment Management, 450 Fifth Street NW., Washington, DC

20549.

SUPPLEMENTARY INFORMATION: On May 24, 1994, the Commission issued

Investment Company Act Release No. 20313 [59 FR 28286 (June 1, 1994)]

(``Release No. 20313''), which proposed rule 17f-6 [17 CFR 270.17f-6]

under the Investment Company Act of 1940 [15 U.S.C. 80a]. The proposed

rule would permit registered management investment companies to use

futures commission merchants and commodity clearing organizations as

custodians of their assets in connection with futures contracts and

commodity options regulated under the Commodity Exchange Act [7 U.S.C.

1-25].

Since Release No. 20313 was issued, the Commission has received a

request from an interested person for an extension of the comment

period. In light of the importance of the safekeeping of investment

company assets and the benefit to the Commission of receiving carefully

considered comments, the Commission believes a 60-day extension is

appropriate.

The comment period for responding to Release No. 20313 is extended

to September 30, 1994.

Dated: July 28, 1994.

By the Commission.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 94-18740 Filed 8-1-94; 8:45 am]

BILLING CODE 8010-01-M