Securities and Exchange Commission September 30, 2013 – Federal Register Recent Federal Regulation Documents

Summary of Application: Applicants request an order pursuant to Section 6(c) of the Act granting exemptions from the provisions of Sections 9(a), 13(a), 15(a), and 15(b) of the Act and Rules 6e-2(b)(15) and 6e-3(T)(b)(15) thereunder in cases where a life insurance company separate account supporting variable life insurance contracts (``VLI Accounts'') holds shares of an existing portfolio of the Fund or any other ``Insurance Fund,'' as defined below (collectively, the ``Insurance Funds''), and one or more of the following other types of investors also hold shares of the Insurance Funds: (i) Separate accounts registered as investment companies or separate accounts that are not registered as investment companies under the Act pursuant to exemptions from registration under Section 3(c) of the Act that fund variable annuity contracts (``VA Accounts'') and VLI Accounts (VA Accounts and VLI Accounts together ``Separate Accounts'') issued by both affiliated life insurance companies and unaffiliated life insurance companies (``Participating Insurance Companies''); (ii) trustees of qualified group pension or group retirement plans (``Qualified Plans'') outside the Separate Account context; (iii) investment adviser(s) or affiliated person(s) of the investment adviser(s) to a series of an Insurance Fund (the ``Adviser''), for the purpose of providing seed capital to a series of an Insurance Fund; and (iv) any general account of an insurance company depositor of VA Accounts and/or VLI Accounts (``General Accounts''). An Insurance Fund is any investment company (or investment portfolio or series thereof), including an existing portfolio of the Fund, designed to be sold to VA Accounts and/or VLI Accounts and to which an Applicant or its affiliates serve or may serve in the future as investment advisers, investment subadvisers, investment managers, administrators, principal underwriters or sponsors.