Securities and Exchange Commission 2007 – Federal Register Recent Federal Regulation Documents

We are proposing rule amendments to extend the current interactive data voluntary reporting program to enable mutual funds voluntarily to submit supplemental tagged information contained in the risk/return summary section of their prospectuses. A mutual fund choosing to tag its risk/return summary information also would continue to file this information in HTML or ASCII format, as currently required. This extension of the voluntary program is intended to help us evaluate the usefulness to investors, third-party analysts, registrants, the Commission, and the marketplace of data tagging and, in particular, of tagging mutual fund information.

The Commission is proposing for comment rules to implement provisions of the Credit Rating Agency Reform Act of 2006 (the ``Act''), enacted on September 29, 2006. The Act defines the term ``nationally recognized statistical rating organization,'' provides authority for the Commission to implement registration, recordkeeping, financial reporting, and oversight rules with respect to registered credit rating agencies, and directs the Commission to issue final implementing rules no later than 270 days after its enactment (or by June 26, 2007).

Applicants seek an order pursuant to Section 26(c) of the 1940 Act approving the substitution of: (1) Shares of the EquiTrust High Grade Bond Portfolio (``Replacement Portfolio A'') of the EquiTrust Variable Insurance Series Fund (the ``EquiTrust Fund'') for shares of the COUNTRY VP Short-Term Bond Fund (``Replaced Portfolio A'') of the COUNTRY Mutual Funds Trust (the ``COUNTRY Fund''); and (2) shares of the T. Rowe Price Personal Strategy Balanced Portfolio (``Replacement Portfolio B'') of the T. Rowe Price Equity Series, Inc. (the ``T. Rowe Price Fund'') for shares of the COUNTRY VP Balanced Fund (``Replaced Portfolio B'') of the COUNTRY Fund. Shares of Replacement Portfolio A, Replacement Portfolio B, Replaced Portfolio A, and Replaced Portfolio B currently are held by the Life Account and the Annuity Account (each an ``Account,'' together, the ``Accounts'') to support variable life insurance or variable annuity contracts, respectively, issued by the Company (collectively, the ``Contracts'').