~ ASHER ~

[mick]

part three/ SEC Digest from Oct. 1, 1993 also confirming the disbarment

https://www.sec.gov/news/digest/1993/dig100193.pdf

nl9BS'lKBft. COUDY ACT RBLnSBS
.
THE GUARDIAN CASH HANAGEMENT TRUST
An order has been issued under Section 8(f) of the Investment Company Act declaringthat The Guardian Cash Hanagement Trust has ceased to be an investment company. (Rel.IC-19744 -September 29)
THE GUARDIAN PARK AVE. FUND
A notice has been issued giving interested persons until October 25, 1993 to request a hearing on an application filed by The Guardian Park Ave. Fund for an order pursuant to Section 8(f) of the Investment Company Act declaring that applicant has ceased to be an investment company. (Rel. IC-19745 -September 29)
JOHN HANCOCK HUTUAL VARIABLE LIFE INSURANCE ACCOUNT UV, ET AL.
An order has been issued pursuant to Section 6(c) of the Investment Company Act and those rules specified in paragraph (b) of Rule 6e-2 thereunder, other than Sections 7 and 8 (a); Sections 2(a)(32), 2(a)(35), 22(c), 26(a)(1), 26(a)(2), 27(a)(1), 27(a)(3), 27(c)(1), 27(c)(2), 27(d) and 27(f) of the Act; and Rul •• 6e-2(b)(l), (b)(12), (b)(13)(i), (b)(l3)(H), (b)(13)(Hi), (b)(13)(iv), (b)(13)(v), (b)(13)(viii) , (c)(l), and (c)(4), 22c-l and 27f-l thereunder. The order was sought in connection with the offer and sale of certain multi-optionvariable life insurance policies (individually, the Policy) that provide for the following: a death benefit which w'1ll not always vary based on investment performance; both a contingent deferred sales charge and a sales charge deducted from premiums, neither of which is subject to refunds; deduction of any remaining
NEWS DIGEST, October 1, 1993 7
unpaid Policy issue charge on lapse or surrender; deduction from the Policy'. account value of cost of insurance charges, charges for substandard aortality ri.ks and incidental insurance benefits, and miniDrua death benefit guarantee risk charges;values and charges based on the 1980 Co_issioners' Standard Ordinary MortalityTables; waiver of front-end sales charges in certain cases; the holding of mutual fund shares funding the John Hancock Mutual Variable Life Insurance Account UV without the use of a trustee in an open account arrangeaent and without a trust indenture; and a wfree lookW right which may provide for the return of amounts other than total premiums paid upon cancellation of a Policy. [Rel. IC-19746 -September 29)
LINCOLN BENEFIT LIFE COKPARY, ET AL.
An order has been issued pursuant to Section 6(c) of the Investment Company Act exempting Lincoln Benefit Life ComPanY, Lincoln Benefit Life Variable Annuity Account (Account) and Lincoln Benefit Financial Services, Inc. from the provisions of Sections 26(a) (2) (C) and 27(c) (2) of the Act. The order provides exemptions to the extent necessary to permit the deduction of a mortality and expense risk charge from the assets of the Account under certain variable annuity contracts. (Rel. IC-19747 -September 29)
JOHN IlANCOC~ HUTUAL VARIABLE LIFE INSUUBCE ACCOOJ1T UV, ET AL.
An order has been issued pursuant to Section 6(c) of the Investment Company Act granting exemptions from Sections 2(a)(32), 2(a)(35), 22(c), 22(d), 26(a)(2), 27(a) (1), 27(c)(1), and 27(c)(2) of the Act, and Rules 6e-2(b)(1), 6e-2(b)(12), 6e-2(b)(13), 6e-2(c)(4) and 22c-l thereunder to permit the following: the deduction of a contingent deferred sales load under certain single premium variable lIfe insurance policies; the deduction of cost of insurance charges from account values under certain single premium policies and certain annual premium policies; and the use of the 1980 Commissioners' Standard Ordinary lIortalityTable. in determining compliance of certain annual premium policies with the Act and the rules thereunder. (Rel. IC-19748 -September 29)
THE QUEST FOR VALUE ACCUMULATION TRUST, ET AL.
An order has been issued pursuant to Section 6(c) of the Investment COIIlPanyAct granting exemptions from 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 to permit shares of any current or future series of The Quest For Value Accumulation Trust to be sold to and held byseparate accounts funding variable annuity and variable life insurance contracts issued by both affiliated and unaffiliated life insurance companies. (Rel. IC-19749 -September 29)
TRANSAHERICA OCCIDENTAL LIFE INSURANCE COKPANY', ET AL.
An order has been issued pursuant to Section 6(c) of the Investment Company Act granting exemptions from Sections 26(a) (2) (C) and 27(c) (2) of the Act to permitthe deduction of mortality and expense risk charges from the assets of the Transamerica Separate Account VA-2L under certain flexible purchase payment multi-funded deferred individual annuity contracts. (Rel. IC-19750 -September 29)
NEWS DIGEST, October 1, 1993 8
THE UNION CENTRAL LIFE INSURANCE COMPANY, ET AL.
An order has been issued pursuant to Section 26(b) of the Investment Company Act, approving the substitution of the Money Market Portfolio of the Scudder Variable Life Investment Fund for shares of the Money Market Portfolio of the Carillon Fund, Inc. (Rei. IC-19751 -September 29)
PROVIDENTKUTUAL LIFE AND ANNUITY COMPANY OF AMERICA, ET AL.
An order has been issued PUrsuant to Section 6(c) of the Investment Company Act exempting Providentmutual Life and Annuity Company of America, Providentmutual Variable Annuity Separate Account, Provident Mutual Life Insurance Company of Philadelphia, Provident Mutual Variable Annuity Separate Account and PML Securities Company from the provisions of Sections 26(a) (2) (C) and 27(c) (2) of the Act to the extent necessary to permit the deduction of a mortality and expense risk charge fromthe assets of the Accounts under certain variable annuity contracts. (Rei. IC-19752 -September 29)
IDEX II SERIES FUND, ET AL.
An order has been issued on an application filed by Idex II Series Fund, et a1. under Section 6(c) of the Investment Company Act exempting applicants from Sections 2(a)(32), 2(a)(35), 18(f)(1), 18(g), 18(i), 22(c), and 22(d) of the Act and Rule 22c-1 thereunder. The order permits certain investment companies to issue multipleclasses of shares representing interests in the same portfolio of securities and to assess and, under certain circumstances, waive a contingent deferred sales charge on redemptions of shares. (Re1. IC-19753 -September 30)
HOx.oDfG CODDY AC'l' JtBLIUBS
THE COLUMBIA GAS SYSTEM, INC., ET AL.
An order has been issued authorizing a proposal by The Columbia Gas System, Inc. (Columbia), a registered holding company, and Columbia LNG Corporation (Columbia LNG) ,its nonutility subsidiary, to defer the payment of principal and accrued interest on Columbia LNG's long and short-term debt currently outstanding and held by Columbia for the period September 30, 1993 through February 28, 1994. (Rel. 35-25899)
NORTHEAST UTILITIES, ET AL.
An order has been issued authorizing proposals by Northeast Utilities (NO), a registered holding company, and its wholly owned nonutility subsidiary company, BEC Inc. (BEC). BEC is authorized to expand the types of energy management services and demand side management services it currently provides, and to provide consulting services. NO may extend through June 30, 1996, its authorization to make capitalcontributions in an aggregate amount of up to $6 million to BEC. (Rel. 35-25900)
NEWS DIGEST, October 1, 1993