August 2, 1989
TO: UNIT INVESTMENT TRUST COMMITTEE NO. 47-89
RE: UPDATE CONCERNING PERFORMANCE NUMBERS FOR UNIT TRUSTS
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As we informed you yesterday, the July 31 proposal is no
longer on the table as such although it may be helpful to the
extent that it reflects the thinking of the SEC staff. At the
moment it does not look like there will be an industrywide
solution to the SEC's concerns. However, sponsors should keep in
mind that one point of the July 28 proposal is probably still in
effect, that is you should not use Rule 487 for your first filing
after the hiatus.
Because there has been no industrywide solution, individual
sponsors have resumed depositing trusts and are working out
disclosure with the staff on a trust by trust basis. If you have
a trust go effective, please provide Craig Tyle with a copy of
the relevant disclosure so that he can circulate it to the
Committee.
Finally, a reminder that there will be a meeting at the
Institute on August 10 at 10:00 to discuss performance
information.
Mary K. Bellamy
Associate General Counsel