81 FR 21609 - Türkiye Sinai Kalkinma Bankasi A.Ş.; Notice of Application
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 70 (April 12, 2016)
Federal Register Volume 81, Issue 70 (April 12, 2016)
| Page Range | 21609-21611 | |
| FR Document | 2016-08298 |
[Federal Register Volume 81, Number 70 (Tuesday, April 12, 2016)] [Notices] [Pages 21609-21611] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-08298] [[Page 21609]] ======================================================================= ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 32066; 812-14514] T[uuml]rkiye Sinai Kalkinma Bankasi A.[Scedil].; Notice of Application April 6, 2016. AGENCY: Securities and Exchange Commission (the ``Commission''). ACTION: Notice of application for an order under section 6(c) of the Investment Company Act of 1940 (``Act'') for an exemption from all provisions of the Act. ----------------------------------------------------------------------- SUMMARY: Applicant: T[uuml]rkiye Sinai Kalkinma Bankasi A.[Scedil]. (``Applicant''). Summary of Application: Applicant, a banking institution organized as a public joint stock company of unlimited duration under the laws of the Republic of Turkey (``Turkey'') requests an order exempting it from all provisions of the Act in connection with the offer and sale of its debt securities in the United States. Filing Dates: The application was filed on July 14, 2015, and amended on November 25, 2015 and March 14, 2016. Hearing or Notification of Hearing: An order granting the application will be issued unless the Commission orders a hearing. Interested persons may request a hearing by writing to the Commission's Secretary and serving applicant with a copy of the request, personally or by mail. Hearing requests should be received by the Commission by 5:30 p.m. on May 2, 2016, and should be accompanied by proof of service on applicant, in the form of an affidavit or, for lawyers, a certificate of service. Hearing requests should state the nature of the writer's interest, the reason for the request, and the issues contested. Persons who wish to be notified of a hearing may request notification by writing to the Commission's Secretary. ADDRESSES: Secretary, U.S. Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. Applicant, Meclis-i Mebusan Caddesi No. 81 34427 F[inodot]nd[inodot]kl[inodot], Istanbul, Turkey. FOR FURTHER INFORMATION CONTACT: Elizabeth G. Miller, Senior Counsel, at (202) 551-8707, or Holly Hunter-Ceci, Branch Chief, at (202) 551- 6825 (Division of Investment Management, Chief Counsel's Office). SUPPLEMENTARY INFORMATION: The following is a summary of the application. The complete application may be obtained via the Commission's Web site by searching for the file number, or applicant using the Company name box, at http://www.sec.gov/search/search.htm or by calling (202) 551-8090. Applicant's Representations 1. Applicant is a banking institution organized as a public joint stock company of unlimited duration under the laws of Turkey. Applicant was established on May 31, 1950 as a ``Development and Investment Bank'' in accordance with Turkish Banking Law, No. 5411. As mandated by Turkish law, Applicant's principal activity is promotion of Turkish economic development through providing long-term funding for domestic and international investment by Turkish companies, primarily through loans denominated in foreign currencies. The Applicant's mandate as a ``Development and Investment Bank'' is to extend medium- to long-term financing to business enterprises, to assist domestic and foreign capital owners to finance the development of new businesses in Turkey, and to contribute to improvements in Turkish capital markets. A majority of Applicant's assets, together with its consolidated financial subsidiaries (the ``Group''), currently consist of loans and leasing receivables net of allowance for possible losses and a securities portfolio (of which 91.7% constituted Turkish government securities). Since such securities and loans could be considered ``investment securities'' within the meaning of section 3(a)(1)(C) of the Act, Applicant may be considered an investment company, and it requests an exemption from all provisions of the Act. 2. As a Turkish development and industrial bank, Applicant (i) supports private sector, productive investments in the Turkish industrial and service sectors; (ii) assists with the financing and development of new businesses in Turkey; and (iii) contributes to the improvement of Turkish capital markets. Applicant may engage, inter alia, in the following activities in pursuit of its development banking activities: (i) Provision of short-, medium- and long-term loan financing against pledges, mortgages, or other security by way of open credits; financing of existing and new industrial enterprises; (iii) performance of capital market or money market transactions in Turkey and abroad in cooperation with national or international institutions; (iv) financial leasing transactions and other similar financial transactions and issuance of guarantees; and (v) acceptance, establishment, and termination of mortgages. Applicant is authorized to engage in the following standard commercial and investment banking activities: (i) ``Activities of banks (including participation banks, saving banks, credit unions, etc.; except central banks and investment banks)''; (ii) ``Investment banking activities''; (iii) ``Activities for security incomes on own account (dividends, bank interest, participation earnings, remuneration, etc.)''; (iv) ``Finance leasing''; (v) ``Fund management activities bas[ed] on a fee or contract basis (portfolio management, mutual fund management, pension fund management, etc.)''; and (vi) ``Activities auxiliary to investment banking (mergers and acquisitions activities, business financing and venture capital financing activities, etc.).'' 3. As of December 31, 2015, Applicant is privately controlled, with 50.3% of its shares held directly or indirectly by T[uuml]rkiye [Idot][scedil] Bankas[inodot] A.[Scedil]. Group and 8.4% by T[uuml]rkiye Vak[inodot]flar Bankas[inodot] T.A.O. As of the same date, 39.3% of Applicant's shares were publicly traded on the Borsa [Idot]stanbul A.[Scedil]. (``BIST'') (of which 59.3% were held by foreign investors), with the remaining shares owned by various other institutional investors. A significant portion of the Group's obligations is subject to a guarantee by the Turkish Treasury. 4. Applicant is subject to a regulatory regime substantially equivalent to that of commercial banks in Turkey, including oversight and supervision by the Turkish Banking Regulation and Supervision Agency (the ``BRSA''), the Central Bank of Turkey (the ``Central Bank''), the Capital Markets Board of Turkey, the BIST, the Turkish Banks Association, and the Financial Crimes Investigation Board, including a full range of banking, competition, antitrust, anti-money laundering, sanctions and other laws and regulations designed to maintain the safety and financial soundness of Turkish banks, ensure their compliance with economic and other obligations, and limit their exposure to risk. Applicant is subject to extensive oversight, supervision, and regulation by the Turkish government on the same terms as other large commercial banks, including in accordance with the Basel III framework and international capital and liquidity standards. The Turkish Treasury guarantees a significant portion of Applicant's long- term funding from development financial institutions and appoints a representative to Applicant's Board of Directors. Applicant's Board of Directors and management have implemented comprehensive policies and procedures governing Applicant's banking operations. [[Page 21610]] 5. As described more fully in the application, while Applicant performs many of the same functions as Turkish commercial banks and is subject to extensive supervision and regulation by the Turkish government, Applicant is prohibited from accepting deposits from the public. The scope of Applicant's operations is more limited than that of Turkish commercial banks owing to its specific objectives as a development and investment bank. 6. Development financial institutions (``DFIs'') are Applicant's primary source of funding; however, as DFI funding is typically received in the form of ``tied loans'' limited to a specific purpose or sector within Turkey, Applicant plans to offer and sell debt securities to supplement its funding base. Accordingly, Applicant proposes to issue and sell its debt securities in the United States from time to time, including under its Global Medium Term Note Program. Applicant intends to use the proceeds of any such sale of securities as an additional source of funding for its general purposes and in connection with its development and investment banking mandate. The proceeds of any such sale of debt securities will be used by Applicant as an additional source of funding for its general corporate purposes and in connection with its development and investment banking mandate. Specifically, Applicant intends to use any such debt security funding to extend loans to public-private partnerships and other socially responsible investment projects, including health, education, and renewable energy projects, that are ineligible for DFI tied loan funding. Applicant's Legal Analysis 1. Section 3(a)(1)(C) of the Act defines an ``investment company'' to include any issuer engaged in the business of investing, reinvesting, owning, holding or trading in securities, and that owns or proposes to acquire investment securities having a value exceeding 40% of the issuer's total assets. Section 3(a)(2) of the Act defines ``investment securities'' to include all securities except Government securities, securities issued by employees' securities companies, and securities issued by majority-owned subsidiaries of the owner which (a) are not investment companies, and (b) are not relying on the exclusions from the definition of investment company in section 3(c)(1) or 3(c)(7) of the Act. 2. Applicant states that as of December 31, 2015, the Group had total assets of TL21.4 billion, of which loans and leasing receivables net of allowance for possible losses accounted for 63.8% and the Group's securities portfolio for 18.0% (of which 91.7% constituted Turkish government securities). Such loans and securities could be construed as ``investment securities'' within the meaning of Section 3(a)(1)(C) of the Act, thus potentially rendering Applicant a prima facie ``investment company.'' As a result, Applicant states that it could be deemed to be an ``investment company'' under section 3(a)(1)(C) of the Act. 3. Section 6(c) of the Act provides, in relevant part, that the Commission, by order upon application, may conditionally or unconditionally exempt any person, security, or transaction from any provision of the Act, if and to the extent necessary or appropriate in the public interest and consistent with the protection of investors and the purposes fairly intended by the policy and provisions of the Act. 4. Rule 3a-6 under the Act excludes foreign banks from the definition of an investment company under the Act. A ``foreign bank'' is defined in the rule to include a banking institution ``engaged substantially in commercial banking activity'' which in turn is defined to include ``extending commercial and other types of credit, and accepting demand and other types of deposits.'' Applicant represents that it is the functional equivalent of a ``foreign bank'' insofar as it (i) offers financial services and issues financial products similar to those offered and issued by other Turkish commercial banks and (ii) is subject to extensive oversight, supervision, and regulation as a bank by the Turkish government. However, by Turkish law, Applicant is prohibited from accepting deposits. Therefore, Applicant states that there is uncertainty as to whether the Rule 3a-6 exemption would be deemed to apply. 5. Applicant also believes that the rationale of Congress and the Commission in promulgating rules under the Act in exempting foreign financial institutions applies to Applicant. Applicant represents that it is subject to extensive oversight, supervision and regulation by the Turkish Government to an equivalent extent as applies to Turkish commercial banks. Applicant further represents that it is subject to a more direct form of government oversight and supervision than commercial banks in Turkey owing to representation of the Turkish Treasury on the Applicant's board of Directors and the Turkish government's guarantee of certain of the Group's liabilities. Applicant also represents that the Turkish government guarantees a significant portion of the Group's obligation and the Turkish Treasury appoints a representative to Applicant's Board of Directors. Accordingly, Applicant represents that its operations do not lend themselves to the abuses against which the Act is directed, and states that it believes it satisfies the standards for relief under section 6(c) of the Act. Applicant's Conditions Applicant agrees that the order granting the requested relief will be subject to the following conditions: 1. In connection with any offering by Applicant of its debt securities in the United States, Applicant will appoint an agent in the United States to accept service of process in any suit, action, or proceeding brought with respect to such debt securities instituted in any state or federal court in the Borough of Manhattan, The City of New York, New York. Applicant will expressly submit to the jurisdiction of New York State and U.S. federal courts sitting in the Borough of Manhattan, The City of New York, New York, with respect to any such suit, action, or proceeding. Applicant also will waive the defense of forum non conveniens to the maintenance of any such action or proceeding. Such appointment of an agent to accept service of process and such consent to jurisdiction shall be irrevocable until all amounts due and to become due in respect thereof have been paid. No such submission to jurisdiction or appointment of agent for service of process shall affect the right of a holder of any such security to bring suit in any court which shall have jurisdiction over Applicant by virtue of the offer and sale of such securities or otherwise. 2. Applicant undertakes to provide to any person to which it offers its debt securities in the United States disclosure documents that are at least so comprehensive in their description of Applicant and its business as those which may be used by comparable U.S. issuers in similar U.S. offerings of such securities and that contain the latest available audited annual financial statements (and, if available, reviewed interim financial statements) of the Group. Applicant further undertakes to ensure that any underwriter or dealer through whom it makes such offers will provide such disclosure documents to each person to whom such offers are made prior to any sale of securities to such offeree. Such documents will be updated promptly to reflect any material change in the Group's financial status and shall be at least as comprehensive as offering memoranda customarily used in similar offerings in the United States. Any offering of Applicant's securities in [[Page 21611]] the United States shall comply with applicable U.S. securities and anti-fraud laws and regulations. 3. Applicant shall rely upon the order so long as (i) its activities conform in all material respects to the activities described in this Application and (ii) Applicant continues to be regulated by the BRSA, the Central Bank, or other applicable Turkish regulatory authorities as a development and investment bank as described in the application. For the Commission, by the Division of Investment Management, pursuant to delegated authority. Robert W. Errett, Deputy Secretary. [FR Doc. 2016-08298 Filed 4-11-16; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 81, No. 70 / Tuesday, April 12, 2016 / Notices 21609
SECURITIES AND EXCHANGE number, or applicant using the authorized to engage in the following
COMMISSION Company name box, at http://www.sec. standard commercial and investment
gov/search/search.htm or by calling banking activities: (i) ‘‘Activities of
[Investment Company Act Release No.
(202) 551–8090. banks (including participation banks,
32066; 812–14514]
saving banks, credit unions, etc.; except
Applicant’s Representations
Türkiye Sinai Kalkinma Bankasi A.Ş.; central banks and investment banks)’’;
1. Applicant is a banking institution (ii) ‘‘Investment banking activities’’; (iii)
Notice of Application
organized as a public joint stock ‘‘Activities for security incomes on own
April 6, 2016. company of unlimited duration under account (dividends, bank interest,
AGENCY: Securities and Exchange the laws of Turkey. Applicant was participation earnings, remuneration,
Commission (the ‘‘Commission’’). established on May 31, 1950 as a etc.)’’; (iv) ‘‘Finance leasing’’; (v) ‘‘Fund
ACTION: Notice of application for an ‘‘Development and Investment Bank’’ in management activities bas[ed] on a fee
order under section 6(c) of the accordance with Turkish Banking Law, or contract basis (portfolio management,
Investment Company Act of 1940 No. 5411. As mandated by Turkish law, mutual fund management, pension fund
(‘‘Act’’) for an exemption from all Applicant’s principal activity is management, etc.)’’; and (vi) ‘‘Activities
provisions of the Act. promotion of Turkish economic auxiliary to investment banking
development through providing long- (mergers and acquisitions activities,
SUMMARY: term funding for domestic and business financing and venture capital
Applicant: Türkiye Sinai Kalkinma international investment by Turkish financing activities, etc.).’’
Bankasi A.Ş. (‘‘Applicant’’). companies, primarily through loans
3. As of December 31, 2015, Applicant
Summary of Application: Applicant, a denominated in foreign currencies. The
is privately controlled, with 50.3% of its
banking institution organized as a Applicant’s mandate as a ‘‘Development
shares held directly or indirectly by
public joint stock company of unlimited and Investment Bank’’ is to extend
Türkiye İş Bankas( A.Ş. Group and 8.4%
duration under the laws of the Republic medium- to long-term financing to
by Türkiye Vak(flar Bankas( T.A.O. As
of Turkey (‘‘Turkey’’) requests an order business enterprises, to assist domestic
of the same date, 39.3% of Applicant’s
exempting it from all provisions of the and foreign capital owners to finance
shares were publicly traded on the
Act in connection with the offer and the development of new businesses in
Borsa İstanbul A.Ş. (‘‘BIST’’) (of which
sale of its debt securities in the United Turkey, and to contribute to
59.3% were held by foreign investors),
States. improvements in Turkish capital
markets. A majority of Applicant’s with the remaining shares owned by
Filing Dates: The application was various other institutional investors. A
filed on July 14, 2015, and amended on assets, together with its consolidated
financial subsidiaries (the ‘‘Group’’), significant portion of the Group’s
November 25, 2015 and March 14, 2016. obligations is subject to a guarantee by
Hearing or Notification of Hearing: An currently consist of loans and leasing
receivables net of allowance for possible the Turkish Treasury.
order granting the application will be
losses and a securities portfolio (of 4. Applicant is subject to a regulatory
issued unless the Commission orders a
which 91.7% constituted Turkish regime substantially equivalent to that
hearing. Interested persons may request
government securities). Since such of commercial banks in Turkey,
a hearing by writing to the
securities and loans could be considered including oversight and supervision by
Commission’s Secretary and serving
‘‘investment securities’’ within the the Turkish Banking Regulation and
applicant with a copy of the request,
meaning of section 3(a)(1)(C) of the Act, Supervision Agency (the ‘‘BRSA’’), the
personally or by mail. Hearing requests
Applicant may be considered an Central Bank of Turkey (the ‘‘Central
should be received by the Commission
investment company, and it requests an Bank’’), the Capital Markets Board of
by 5:30 p.m. on May 2, 2016, and
exemption from all provisions of the Turkey, the BIST, the Turkish Banks
should be accompanied by proof of
Act. Association, and the Financial Crimes
service on applicant, in the form of an
2. As a Turkish development and Investigation Board, including a full
affidavit or, for lawyers, a certificate of
industrial bank, Applicant (i) supports range of banking, competition, antitrust,
service. Hearing requests should state
private sector, productive investments anti-money laundering, sanctions and
the nature of the writer’s interest, the
in the Turkish industrial and service other laws and regulations designed to
reason for the request, and the issues
sectors; (ii) assists with the financing maintain the safety and financial
contested. Persons who wish to be
and development of new businesses in soundness of Turkish banks, ensure
notified of a hearing may request
Turkey; and (iii) contributes to the their compliance with economic and
notification by writing to the
improvement of Turkish capital other obligations, and limit their
Commission’s Secretary.
markets. Applicant may engage, inter exposure to risk. Applicant is subject to
ADDRESSES: Secretary, U.S. Securities extensive oversight, supervision, and
alia, in the following activities in
and Exchange Commission, 100 F Street pursuit of its development banking regulation by the Turkish government
NE., Washington, DC 20549–1090. activities: (i) Provision of short-, on the same terms as other large
Applicant, Meclis-i Mebusan Caddesi medium- and long-term loan financing commercial banks, including in
No. 81 34427 F(nd(kl(, Istanbul, Turkey. against pledges, mortgages, or other accordance with the Basel III framework
FOR FURTHER INFORMATION CONTACT: security by way of open credits; and international capital and liquidity
Elizabeth G. Miller, Senior Counsel, at financing of existing and new industrial standards. The Turkish Treasury
(202) 551–8707, or Holly Hunter-Ceci, enterprises; (iii) performance of capital guarantees a significant portion of
asabaliauskas on DSK3SPTVN1PROD with NOTICES
Branch Chief, at (202) 551–6825 market or money market transactions in Applicant’s long-term funding from
(Division of Investment Management, Turkey and abroad in cooperation with development financial institutions and
Chief Counsel’s Office). national or international institutions; appoints a representative to Applicant’s
SUPPLEMENTARY INFORMATION: The (iv) financial leasing transactions and Board of Directors. Applicant’s Board of
following is a summary of the other similar financial transactions and Directors and management have
application. The complete application issuance of guarantees; and (v) implemented comprehensive policies
may be obtained via the Commission’s acceptance, establishment, and and procedures governing Applicant’s
Web site by searching for the file termination of mortgages. Applicant is banking operations.
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![Federal Register / Vol. 81, No. 70 / Tuesday, April 12, 2016 / Notices 21611
the United States shall comply with By the Commission. forth in sections A, B, and C below, of
applicable U.S. securities and anti-fraud Jill M. Peterson, the most significant aspects of such
laws and regulations. Assistant Secretary. statements.
3. Applicant shall rely upon the order [FR Doc. 2016–08484 Filed 4–8–16; 4:15 pm] A. Self-Regulatory Organization’s
so long as (i) its activities conform in all BILLING CODE 8011–01–P Statement of the Purpose of, and
material respects to the activities Statutory Basis for, the Proposed Rule
described in this Application and (ii) Change
Applicant continues to be regulated by SECURITIES AND EXCHANGE
the BRSA, the Central Bank, or other COMMISSION 1. Purpose
applicable Turkish regulatory [Release No. 34–77547; File No. SR–CBOE– The Exchange proposes to amend its
authorities as a development and 2016–021] Fees Schedule, effective March 29,
investment bank as described in the 2016. Specifically, commencing March
application. Self-Regulatory Organizations; 29, 2016, the Exchange will list new
Chicago Board Options Exchange, options on two FTSE Russell indexes.
For the Commission, by the Division of
Investment Management, pursuant to Incorporated; Notice of Filing and More specifically, the Exchange
delegated authority. Immediate Effectiveness of a Proposed proposes to establish fees for options
Robert W. Errett,
Rule Change To Establish Fees for that overlie a reduced value of the FTSE
Options That Overlie a Reduced Value 100 Index (‘‘UKXM’’) and the China 50
Deputy Secretary.
of the FTSE 100 Index and the FTSE Index ‘‘(FXTM’’).
[FR Doc. 2016–08298 Filed 4–11–16; 8:45 am]
China 50 Index By way of background, a specific set
BILLING CODE 8011–01–P
of proprietary products are commonly
April 6, 2016.
included or excluded from a variety of
Pursuant to Section 19(b)(1) of the programs, qualification calculations and
SECURITIES AND EXCHANGE Securities Exchange Act of 1934 transaction fees. In lieu of listing out
COMMISSION (‘‘Act’’),1 and Rule 19b 4 thereunder,2 these products in various sections of the
notice is hereby given that on March 24, Fees Schedule, the Exchange uses the
In the Matter of Royale Globe Holding 2016, Chicago Board Options Exchange,
Inc., File No. 500–1; Order of term ‘‘Underlying Symbol List A’’ to
Incorporated (the ‘‘Exchange’’ or represent these products. Currently,
Suspension of Trading ‘‘CBOE’’) filed with the Securities and Underlying Symbol List A is defined in
April 8, 2016. Exchange Commission (‘‘Commission’’) Footnote 34 and represents the
the proposed rule change as described following proprietary products: OEX,
It appears to the Securities and in Items I, II, and III below, which Items
Exchange Commission that there is a XEO, RUT, RLG, RLV, RUI, SPX
have been prepared by the Exchange. (including SPXw), SPXpm, SRO, VIX,
lack of current and accurate information The Commission is publishing this
concerning the securities of Royale VOLATILITY INDEXES and binary
notice to solicit comments on the options. The Exchange notes that the
Globe Holding Inc. because of questions proposed rule change from interested
regarding the accuracy of publicly reason the products in Underlying
persons. Symbol List A are often collectively
available information about the
company’s operations and securities I. Self-Regulatory Organization’s included or excluded from certain
ownership, including details about its Statement of the Terms of Substance of programs, qualification calculations and
affiliation with Maxim Capital Limited, the Proposed Rule Change transactions fees is because the
a purported investment company The Exchange proposes to establish Exchange has expended considerable
operating under the name Maxim fees for options that overlie a reduced resources developing and maintaining
Trader. Royale Globe Holding Inc. is value of the FTSE 100 Index and the its proprietary, exclusively-listed
delinquent in its periodic filings with FTSE China 50 Index. The text of the products. Similar to the products
the Commission, having not filed any proposed rule change is available on the currently represented by ‘‘Underlying
periodic reports since it filed its Form Exchange’s Web site (http:// Symbol List A,’’ UKXM and FXTM are
10–Q for the period ended July 31, 2015. www.cboe.com/AboutCBOE/ not listed on any other exchange. As
Royale Globe Holding Inc. (CIK No. CBOELegalRegulatoryHome.aspx), at such, the Exchange proposes to exclude
0001383145), is a Nevada corporation the Exchange’s Office of the Secretary, or include UKXM and FXTM in the
with its principal place of business and at the Commission’s Public same programs as the other products in
listed as Kuala Lumpur, Malaysia with Reference Room. Underlying Symbol List A, as well as
stock quoted on OTC Link (previously, add UKXM and FXTM to the definition
II. Self-Regulatory Organization’s of Underlying Symbol List A in
‘‘Pink Sheets’’) operated by OTC
Statement of the Purpose of, and Footnote 34. Specifically, like the other
Markets Group, Inc. under the ticker
Statutory Basis for, the Proposed Rule products in Underlying Symbol List A,
symbol ROGP.
Change the Exchange proposes to except UKXM
The Commission is of the opinion that and FXTM from the Liquidity Provider
In its filing with the Commission, the
the public interest and the protection of Sliding Scale, the Volume Incentive
Exchange included statements
investors require a suspension of trading Program (VIP), the Marketing Fee, the
concerning the purpose of and basis for
in the securities of the above-listed Clearing Trading Permit Holder Fee Cap
asabaliauskas on DSK3SPTVN1PROD with NOTICES
the proposed rule change and discussed
company. (‘‘Fee Cap’’) and [sic] exemption from
any comments it received on the
Therefore, it is ordered, pursuant to proposed rule change. The text of these fees for facilitation orders, and the
Section 12(k) of the Securities Exchange statements may be examined at the Order Router Subsidy (ORS) and
Act of 1934, that trading in the places specified in Item IV below. The Complex Order Router Subsidy (CORS)
securities of the above-listed company is Exchange has prepared summaries, set Programs. Like all other products in
suspended for the period from 9:30 a.m. Underlying Symbol List A (with the
EDT, April 8, 2016, through 11:59 p.m. 1 15 U.S.C. 78s(b)(1). exception of SROs), the Exchange
EDT, on April 21, 2016. 2 17 CFR 240.19b–4. proposes to apply to UKXM and FXTM
VerDate Sep<11>2014 17:18 Apr 11, 2016 Jkt 238001 PO 00000 Frm 00079 Fmt 4703 Sfmt 4703 E:\FR\FM\12APN1.SGM 12APN1](https://thefederalregister.org/doc/81_FR_21679/page/3.svg)
Document Created: 2016-04-12 00:47:14
Document Modified: 2016-04-12 00:47:14
| 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 application for an order under section 6(c) of the Investment Company Act of 1940 (``Act'') for an exemption from all provisions of the Act. | |
| Dates | The application was filed on July 14, 2015, and amended on November 25, 2015 and March 14, 2016. | |
| Contact | Elizabeth G. Miller, Senior Counsel, at (202) 551-8707, or Holly Hunter-Ceci, Branch Chief, at (202) 551- 6825 (Division of Investment Management, Chief Counsel's Office). | |
| FR Citation | 81 FR 21609 |
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