SEC News Digest

INVESTMENT COMPANY ACT RELEASES

Mainstay VP Series Fund, Inc., et al.

An order has been issued approving an application filed by Mainstay VP Series Fund, Inc. (Fund) and New York Life Investment Management LLC (NYLIM) (together, Applicants) pursuant to Section 6(c) of the Investment Company Act granting exemptions of each life insurance company separate account supporting variable life insurance contracts (VLI Accounts) (and its insurance company depositor) that may invest in shares of the Fund or a future fund, 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)(l5) (or any comparable provisions of a permanent rule that replaces Rule 6e-3(T)(b)(15)) thereunder to the extent necessary to permit such VLI Accounts to hold shares of the Fund or a future fund when one or more of the following other types of investors also hold shares of the Fund or a future fund: (1) life insurance company separate accounts supporting variable annuity contracts (VA Accounts), whether or not the life insurance company is an affiliated person of the insurance company depositor of any VLI Account, (2) VLI Accounts supporting scheduled or flexible premium variable life insurance contracts, whether or not the life insurance company is an affiliated person of the insurance company depositor of any other VLI Account, (3) general accounts of insurance company depositors of VA Accounts and/or VLI Accounts, (4) the Fund's investment adviser or future fund's investment adviser (or an affiliated person of the investment adviser), or (5) qualified group pension plans and group retirement plans in accordance with Section 817(h) of the Internal Revenue Code and the U.S. Treasury regulations and Internal Revenue Service guidelines thereunder, as described in the application, outside the separate account context. (Rel. IC-28651 - March 18)

SELF-REGULATORY ORGANIZATIONS

Approval of Proposed Rule Changes

The Commission granted approval of a proposed rule change submitted by NYSE Arca (SR-NYSEArca-2009-03) establishing a technical original listing fee specific to derivative securities products and structured products. Publication is expected in the Federal Register during the week of March 23. (Rel. 34-59597)

The Commission approved a proposed rule change submitted by NYSE Arca (SR-NYSEArca-2009-05) pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 establishing fees for NYSE Arca Trades. Publication is expected in the Federal Register during the week of March 23. (Rel. 34-59598)

The Commission approved a proposed rule change (SR-FINRA-2008-020), as modified by Amendment No. 2 thereto, filed by the Financial Industry Regulatory Authority to require a member that offers or sells any security in a private placement issued by the member or a control entity to (1) disclose to investors in a private placement memorandum, term sheet or other offering document the intended use of offering proceeds and the offering expenses, (2) file such offering document with FINRA, and (3) commit that at least 85 percent of the offering proceeds will be used for business purposes, which shall not include offering costs, discounts, commissions and any other cash or non-cash sales incentives. Publication is expected in the Federal Register during the week of March 23. (Rel. 34-59599)

Immediate Effectiveness of Proposed Rule Changes

A proposed rule change (SR-ISE-2009-09) filed by the International Securities Exchange relating to options communications has become effective under Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of March 23. (Rel. 34-59600)

A proposed rule change filed by the Municipal Securities Rulemaking Board to extend the Electronic Municipal Market Access system pilot (SR-MSRB-2009-01) has become effective under Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of March 23. (Rel. 34-59602)

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http://www.sec.gov/news/digest/2009/dig032009.htm