80 FR 8374 - SEC Advisory Committee on Small and Emerging Companies
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 31 (February 17, 2015)
Federal Register Volume 80, Issue 31 (February 17, 2015)
| Page Range | 8374-8375 | |
| FR Document | 2015-03221 |
[Federal Register Volume 80, Number 31 (Tuesday, February 17, 2015)] [Notices] [Pages 8374-8375] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-03221] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release Nos. 33-9724; 34-74260; File No. 265-27] SEC Advisory Committee on Small and Emerging Companies AGENCY: Securities and Exchange Commission. ACTION: Notice of meeting. ----------------------------------------------------------------------- SUMMARY: The Securities and Exchange Commission Advisory Committee on Small and Emerging Companies is providing notice that it will hold a public meeting on Wednesday, March 4, 2015, in Multi-Purpose Room LL- 006 at the Commission's headquarters, 100 F Street NE., Washington, DC. The meeting will begin at 9:30 a.m. (EST) [[Page 8375]] and will be open to the public. The meeting will be webcast on the Commission's Web site at www.sec.gov. Persons needing special accommodations to take part because of a disability should notify the contact person listed below. The public is invited to submit written statements to the Committee. The agenda for the meeting includes matters relating to rules and regulations affecting small and emerging companies under the federal securities laws. DATES: The public meeting will be held on Wednesday, March 4, 2015. Written statements should be received on or before March 2, 2015. ADDRESSES: The meeting will be held at the Commission's headquarters, 100 F Street NE., Washington, DC. Written statements may be submitted by any of the following methods: Electronic StatementsUse the Commission's Internet submission form (http://www.sec.gov/spotlight/acsec-spotlight.shtml ); or Send an email message to [email protected]. Please include File Number 265-27 on the subject line; or Paper Statements Send paper statements in triplicate to Brent J. Fields, Federal Advisory Committee Management Officer, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. All submissions should refer to File No. 265-27. This file number should be included on the subject line if email is used. To help us process and review your statement more efficiently, please use only one method. The Commission will post all statements on the Advisory Committee's Web site (http://www.sec.gov/spotlight/acsec-spotlight.shtml). Statements also will be available for Web site viewing and printing in the Commission's Public Reference Room, 100 F Street NE., Room 1580, Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 p.m. All statements received will be posted without change; we do not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. FOR FURTHER INFORMATION CONTACT: Julie Z. Davis, Senior Special Counsel, at (202) 551-3460, Office of Small Business Policy, Division of Corporation Finance, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-3628. SUPPLEMENTARY INFORMATION: In accordance with Section 10(a) of the Federal Advisory Committee Act, 5 U.S.C.-App. 1, and the regulations thereunder, Keith Higgins, Designated Federal Officer of the Committee, has ordered publication of this notice. Dated: February 11, 2015. Brent J. Fields, Committee Management Officer. [FR Doc. 2015-03221 Filed 2-13-15; 8:45 am] BILLING CODE 8011-01-P
![8374 Federal Register / Vol. 80, No. 31 / Tuesday, February 17, 2015 / Notices
Fund and any distributor of shares of necessary or appropriate in the public applications submitted under section
the Fund.5 interest and consistent with the 17(d) and rule 17d–1, the Commission
7. The Fund will allocate all expenses protection of investors and the purposes considers whether the participation of
incurred by it among the various Classes fairly intended by the policy and the investment company in a joint
based on net assets of the Fund provisions of the Act. Applicants enterprise or joint arrangement is
attributable to each such Class, except request an exemption under section 6(c) consistent with the provisions, policies
that the NAV and expenses of each from sections 18(c) and 18(i) to permit and purposes of the Act, and the extent
Class will reflect the expenses the Fund to issue multiple Classes. to which the participation is on a basis
associated with the Distribution and 4. Applicants submit that the different from or less advantageous than
Service Plan of that Class (if any), and proposed allocation of expenses and that of other participants.
any other incremental expenses of that voting rights among multiple classes is 7. Rule 17d–3 under the Act provides
Class (including transfer agency fees, if equitable and will not discriminate an exemption from section 17(d) and
any). Expenses of the Fund allocated to against any group or class of rule 17d–1 to permit open-end
a particular Class of the Fund’s shares shareholders. Applicants submit that investment companies to enter into
will be borne on a pro rata basis by each the proposed system would permit the distribution arrangements pursuant to
outstanding share of that Class. Fund to facilitate the distribution of rule 12b–1 under the Act. Applicants
Applicants state that the Fund will Classes through diverse distribution request an order under section 17(d) and
comply with the provisions of rule 18f– channels and would provide investors rule 17d–1 under the Act to permit the
3 under the Act as if it were an open- with a broader choice of shareholder Fund to impose Distribution Fees and/
end investment company. options. Applicants assert that the or Service Fees. Applicants have agreed
8. In the event the Funds impose a proposed closed-end investment to comply with rules 12b–1 and 17d–3
CDSC, applicants will comply with the company multiple class structure does as if those rules applied to closed-end
provisions of rule 6c–10 under the Act, not raise the concerns underlying investment companies.
as if that rule applied to closed-end section 18 of the Act to any greater
management investment companies. degree than open-end investment Applicants’ Condition
With respect to any waiver of, companies’ multiple class structures Applicants agree that any order
scheduled variation in, or elimination of that are permitted by rule 18f–3 under granting the requested relief will be
the CDSC, the Fund will comply with the Act. Applicants state the Fund will subject to the following condition:
the requirements of rule 22d–1 under comply with the provisions of rule 18f– Applicants will comply with the
the Act as if the Fund were an open-end 3 as if it were an open-end investment provisions of rules 6c–10, 12b–1, 17d–
investment company. company. 3, 18f–3 and 22d–1 under the Act, as
Applicants’ Legal Analysis amended from time to time or replaced,
CDSCs
as if those rules applied to closed-end
Multiple Classes of Shares 5. Applicants believe that the management investment companies,
1. Section 18(c) of the Act provides, requested relief meets the standards of and will comply with the NASD
in relevant part, that a closed-end section 6(c) of the Act. Rule 6c–10 Conduct Rule 2830, as amended from
investment company may not issue or under the Act permits open-end time to time, as if that rule applied to
sell any senior security if, immediately investment companies to impose all closed-end management investment
thereafter, the company has outstanding CDSCs, subject to certain conditions. companies.
more than one class of senior security. Applicants state that the Fund does not
For the Commission, by the Division of
Applicants state that the creation of anticipate imposing CDSCs and would Investment Management, under delegated
multiple Classes of the Fund may be only do so in compliance with rule 6c– authority.
prohibited by section 18(c). 10 under the Act as if that rule were Brent J. Fields,
2. Section 18(i) of the Act provides applied to closed-end investment Secretary.
that each share of stock issued by a companies. The Fund also will make all
[FR Doc. 2015–03099 Filed 2–13–15; 8:45 am]
registered management investment required disclosures in accordance with
BILLING CODE 8011–01–P
company will be a voting stock and the requirements of Form N–1A
have equal voting rights with every concerning CDSCs. Applicants further
other outstanding voting stock. state that, in the event the Fund imposes SECURITIES AND EXCHANGE
Applicants state that permitting CDSCs, the Fund will apply the CDSCs COMMISSION
multiple Classes of the Fund may (and any waivers or scheduled
violate section 18(i) of the Act because variations of the CDSCs) uniformly to all [Release Nos. 33–9724; 34–74260; File No.
shareholders in a given class and 265–27]
each Class would be entitled to
exclusive voting rights with respect to consistently with the requirements of
SEC Advisory Committee on Small and
matters solely related to that Class. rule 22d–1 under the Act.
Emerging Companies
3. Section 6(c) of the Act provides that Asset-Based Service and/or Distribution
the Commission may exempt any Fees AGENCY: Securities and Exchange
person, security or transaction or any Commission.
class or classes of persons, securities or 6. Section 17(d) of the Act and rule ACTION: Notice of meeting.
transactions from any provision of the 17d–1 under the Act prohibit an
Act, or from any rule under the Act, if affiliated person of a registered SUMMARY: The Securities and Exchange
and to the extent such exemption is investment company or an affiliated Commission Advisory Committee on
tkelley on DSK3SPTVN1PROD with NOTICES
person of such person, acting as Small and Emerging Companies is
5 See Confirmation Requirements and Point of principal, from participating in or providing notice that it will hold a
Sale Disclosure Requirements for Transactions in effecting any transaction in which such public meeting on Wednesday, March 4,
Certain Mutual Funds and Other Securities, and registered company is a joint or a joint 2015, in Multi-Purpose Room LL–006 at
Other Confirmation Requirement Amendments, and
Amendments to the Registration Form for Mutual
and several participant unless the the Commission’s headquarters, 100 F
Funds, Investment Company Act Release No. 26341 Commission issues an order permitting Street NE., Washington, DC. The
(Jan. 29, 2004) (proposing release). the transaction. In reviewing meeting will begin at 9:30 a.m. (EST)
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![Federal Register / Vol. 80, No. 31 / Tuesday, February 17, 2015 / Notices 8375
and will be open to the public. The SUPPLEMENTARY INFORMATION: In SECURITIES AND EXCHANGE
meeting will be webcast on the accordance with Section 10(a) of the COMMISSION
Commission’s Web site at www.sec.gov. Federal Advisory Committee Act, 5 [Release No. 34–74236; File No. SR–EDGX–
Persons needing special U.S.C.-App. 1, and the regulations 2015–07]
accommodations to take part because of thereunder, Keith Higgins, Designated
a disability should notify the contact Federal Officer of the Committee, has Self-Regulatory Organizations; EDGX
person listed below. The public is ordered publication of this notice. Exchange, Inc.; Notice of Filing and
invited to submit written statements to Immediate Effectiveness of a Proposed
the Committee. The agenda for the Dated: February 11, 2015.
Rule Change Related to Fees for Use
meeting includes matters relating to Brent J. Fields, of the Exchange
rules and regulations affecting small and Committee Management Officer.
emerging companies under the federal [FR Doc. 2015–03221 Filed 2–13–15; 8:45 am] February 10, 2015.
securities laws. Pursuant to Section 19(b)(1) of the
BILLING CODE 8011–01–P
Securities Exchange Act of 1934 (the
DATES: The public meeting will be held
‘‘Act’’),1 and Rule 19b–4 thereunder,2
on Wednesday, March 4, 2015. Written notice is hereby given that on January
statements should be received on or SECURITIES AND EXCHANGE
30, 2015, EDGX Exchange, Inc. (the
before March 2, 2015. COMMISSION
‘‘Exchange’’ or ‘‘EDGX’’) filed with the
ADDRESSES: The meeting will be held at Securities and Exchange Commission
Sunshine Act Meeting.
the Commission’s headquarters, 100 F (‘‘Commission’’) the proposed rule
Street NE., Washington, DC. Written change as described in Items I, II and III
Notice is hereby given, pursuant to
statements may be submitted by any of below, which Items have been prepared
the provisions of the Government in the
the following methods: by the Exchange. The Exchange has
Sunshine Act, Public Law 94–409, that
Electronic Statements designated the proposed rule change as
the Securities and Exchange
one establishing or changing a member
• Use the Commission’s Internet Commission will hold a proxy voting due, fee, or other charge imposed by the
submission form (http://www.sec.gov/ roundtable on February 19, 2015 from Exchange under Section 19(b)(3)(A)(ii)
spotlight/acsec-spotlight.shtml ); or 9:30 a.m. to 1:00 p.m. of the Act 3 and Rule 19b–4(f)(2)
• Send an email message to rule- The roundtable will focus on thereunder,4 which renders the
comments@sec.gov. Please include File universal proxy ballots and retail proposed rule change effective upon
Number 265–27 on the subject line; or participation in the proxy process. filing with the Commission. The
Roundtable panelists will be invited to Commission is publishing this notice to
Paper Statements solicit comments on the proposed rule
discuss the state of contested director
• Send paper statements in triplicate elections and whether changes should change from interested persons.
to Brent J. Fields, Federal Advisory be made to the federal proxy rules to I. Self-Regulatory Organization’s
Committee Management Officer, facilitate the use of universal proxy Statement of the Terms of Substance of
Securities and Exchange Commission, ballots by management and proxy the Proposed Rule Change
100 F Street NE., Washington, DC contestants. Roundtable panelists also
20549–1090. The Exchange filed a proposal to
will be asked to discuss strategies for amend its fees and rebates applicable to
All submissions should refer to File No. increasing retail shareholder Members 5 of the Exchange pursuant to
265–27. This file number should be participation in the proxy process, EDGX Rule 15.1(a) and (c) (‘‘Fee
included on the subject line if email is including how technology might affect Schedule’’) to: (i) Amend the definitions
used. To help us process and review retail participation. of ADV and TCV to remove a provision
your statement more efficiently, please to exclude shares on each day from
use only one method. The Commission The roundtable discussion will be
held at SEC headquarters at 100 F Street January 12, 2015 up to and including
will post all statements on the Advisory January 16, 2015; (ii) update the
Committee’s Web site (http:// NE., in Washington, DC. The roundtable
will be webcast on the Commission’s description of fee code D to include
www.sec.gov/spotlight/acsec- routing using the RDOT routing strategy;
spotlight.shtml). Web site at www.sec.gov and will be
(iii) delete fee codes M and U, which
Statements also will be available for archived for later viewing. Seating for
route to LavaFlow; and (iv) make a
Web site viewing and printing in the the public will be available.
number of non-substantive and
Commission’s Public Reference Room, FOR FURTHER INFORMATION, PLEASE organizational amendments.
100 F Street NE., Room 1580, CONTACT: The Office of the Secretary at The text of the proposed rule change
Washington, DC 20549, on official (202) 551–5400. is available at the Exchange’s Web site
business days between the hours of at www.batstrading.com, at the
10:00 a.m. and 3:00 p.m. All statements Dated: February 11, 2015. principal office of the Exchange, and at
received will be posted without change; Brent J. Fields, the Commission’s Public Reference
we do not edit personal identifying Secretary. Room.
information from submissions. You [FR Doc. 2015–03250 Filed 2–12–15; 11:15 am]
should submit only information that BILLING CODE 8011–01–P
1 15 U.S.C. 78s(b)(1).
you wish to make available publicly. 2 17 CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(ii).
tkelley on DSK3SPTVN1PROD with NOTICES
FOR FURTHER INFORMATION CONTACT: Julie 4 17 CFR 240.19b–4(f)(2).
Z. Davis, Senior Special Counsel, at 5 The term ‘‘Member’’ is defined as ‘‘any
(202) 551–3460, Office of Small registered broker or dealer, or any person associated
Business Policy, Division of Corporation with a registered broker or dealer, that has been
admitted to membership in the Exchange. A
Finance, Securities and Exchange Member will have the status of a ‘‘member’’ of the
Commission, 100 F Street NE., Exchange as that term is defined in Section 3(a)(3)
Washington, DC 20549–3628. of the Act.’’ See Exchange Rule 1.5(n).
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Document Created: 2015-12-18 13:19:18
Document Modified: 2015-12-18 13:19:18
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | Notice of meeting. | |
| Dates | The public meeting will be held on Wednesday, March 4, 2015. Written statements should be received on or before March 2, 2015. | |
| Contact | Julie Z. Davis, Senior Special Counsel, at (202) 551-3460, Office of Small Business Policy, Division of Corporation Finance, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-3628. | |
| FR Citation | 80 FR 8374 |
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