Calculation of Yield by Certain Unit Investment Trusts

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