81 FR 71559 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Its Rules To Remove Definitions and Trading Rules That Are No Longer Operative After the Completed Full Migration of All Symbols to the Pillar Trading Platform
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 200 (October 17, 2016)
Federal Register Volume 81, Issue 200 (October 17, 2016)
| Page Range | 71559-71562 | |
| FR Document | 2016-24981 |
[Federal Register Volume 81, Number 200 (Monday, October 17, 2016)] [Notices] [Pages 71559-71562] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-24981] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-79078; File No. SR-NYSEArca-2016-135] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Its Rules To Remove Definitions and Trading Rules That Are No Longer Operative After the Completed Full Migration of All Symbols to the Pillar Trading Platform October 11, 2016. Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 1934 (the ``Act''),\2\ and Rule 19b-4 thereunder,\3\ notice is hereby given that on September 28, 2016, NYSE Arca, Inc. (the ``Exchange'' or ``NYSE Arca'') filed with the Securities and Exchange Commission (the ``Commission'') the proposed rule change as described in Items I and II below, which Items have been prepared by the self-regulatory organization. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 15 U.S.C. 78a. \3\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend its rules to remove definitions and trading rules that are no longer operative after the completed full migration of all symbols to the Pillar trading platform. The proposed rule change is available on the Exchange's Web site at www.nyse.com, at the principal office of the Exchange, and at the Commission's Public Reference Room. II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the self-regulatory organization included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received on the proposed rule change. The text of those statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant parts of such statements. [[Page 71560]] A. Self-Regulatory Organization's Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to amend its rules to remove definitions and trading rules that are no longer operative after the completed full migration of all symbols to the Pillar trading platform. The Exchange proposes to delete superseded rules that were applicable only to the prior trading system and to delete the ``P'' modifier that distinguished the Pillar trading rules from the now obsolete rules. On April 30, 2015, the Exchange filed the first of four proposed rule changes (the ``first Pillar filing'') to adopt new equity trading rules to reflect the implementation of Pillar, the Exchange's new integrated trading technology platform designed to use a single specification for connecting to the equities and options markets operated by NYSE Arca and its affiliates, New York Stock Exchange LLC and NYSE MKT LLC.\4\ The Commission approved the first Pillar filing, including the interim use of the ``P'' modifier; \5\ and subsequently also approved the successive Pillar proposed rule filings.\6\ --------------------------------------------------------------------------- \4\ See Securities Exchange Act Release No. 74951 (May 13, 2015), 80 FR 28721 (May 19, 2015) (SR-NYSEARCA-2015-38) (notice of filing of proposed rule change adopting new equity trading rules relating to trading sessions, order ranking and display, and order execution, and the use of the ``P'' modifier). \5\ See Securities Exchange Act Release No. 75494 (July 20, 2015), 80 FR 44170 (July 24, 2015) (SR-NYSEARCA-2015-38) (approval of proposed rule change adopting new equity trading rules relating to trading sessions, order ranking and display, and order execution, and the use of ``P'' modifier). \6\ See Securities Exchange Act Release No. 76198 (October 20, 2015), 80 FR 65274 (October 26, 2015) (SR-NYSEArca-2015-58) (approval of proposed rule change and order granting accelerated approval of amendment 1 thereto adopting new equity trading rules relating to trading halts, short sales, limit up-limit down, and odd lots and mixed lots); Securities Exchange Act Release No. 76267 (October 26, 2015), 80 FR 66951 (October 30, 2015) (SR-NYSEArca- 2015-56) (approval of proposed rule change and order granting accelerated approval of amendments 1 and 2 thereto adopting new equity trading rules relating to orders and modifiers and the retail liquidity program); Securities Exchange Act Release No. 76869 (January 11, 2016), 81 FR 2276 (January 15, 2016) (SR-NYSEArca-2015- 86) (approval of proposed rule change and order granting accelerated approval of amendments 1 and 3 adopting new equity trading rules relating to auctions). --------------------------------------------------------------------------- In the first Pillar filing, the Exchange anticipated rolling out the new Pillar technology platform over a period of time based upon a range of symbols. Consequently, the Exchange also proposed that it would continue to operate under its then-current trading rules for symbols that had not yet migrated to Pillar, pending the complete migration of all symbols to Pillar and the retirement of the old trading system. As proposed, the new rules governing trading on Pillar would have the same numbering as current rules, but with the modifier ``P'' appended to the rule number during this interim period. In addition, the Exchange proposed adding to its rulebook new ``P'' definitions and introductory Pillar rule text. Once all symbols had migrated to the Pillar platform, the Exchange would file a rule proposal to delete the obsolete rules, definitions and introductory Pillar rule text that were no longer operative, as well as the ``P'' modifiers that distinguished the interim rules.\7\ --------------------------------------------------------------------------- \7\ See supra Note 5 at 44171. --------------------------------------------------------------------------- The migration of all symbols to Pillar having been completed, the Exchange now proposes to amend its rules to delete the rules, definitions and introductory rule text that are no longer operative or necessary, as well as the ``P'' modifiers. The Exchange believes that removing the obsolete references that no longer have any impact on trading would add greater clarity to its rules and promote market transparency and efficiency. The rule filing history for Exchange rules that is maintained on the Exchange's Web site will reflect the prior rule filing history of the deleted trading rule in order to further promote clarity and transparency. Specifically, the Exchange proposes within the ``Rule 1 Definitions'' section of the rule book:Deleting the introductory language that explained the use of the ``P'' modifier; Deleting the obsolete definition ``NYSE Arca Book'', that now has been superseded by the equivalent Pillar definition, and deleting the ``P'' modifier in the remaining Pillar definition; Deleting the definition ``Imbalance'' that was linked to former Rule 7.35; Deleting the definition ``Indicative Match Price'' that also was linked to former Rule 7.35; Deleting the definition ``NOW Recipient'', that now has been superseded by the equivalent Pillar definition of ``Away Market'', and deleting the ``P'' modifier in the remaining Pillar definition; and Deleting the ``P'' modifier in the definition ``Official Closing Price''. Specifically, the Exchange proposes within the ``Rule 7 Equities Trading'' section of the rule book: Deleting the preamble following Rule 7 that explains the use of the ``P'' modifier; Deleting obsolete Rule 7.10 ``Clearly Erroneous Executions'' that has been superseded by the equivalent Pillar Rule 7.10P of the same caption, deleting the ``P'' modifiers in the remaining rule; Deleting obsolete Rule 7.11 ``Limit Up-Limit Down Plan and Trading Pauses in Individual Securities Due to Extraordinary Market Volatility'' that has been superseded by the equivalent Pillar Rule 7.11P of the same caption, deleting the ``P'' modifiers in the remaining rule; Deleting obsolete Rule 7.16 ``Short Sales'' that has been superseded by the equivalent Pillar Rule 7.16P of the same caption, deleting the ``P'' modifier in the remaining rule; Deleting obsolete Rule 7.18 ``UTP Regulatory Halts'' that has been superseded by the equivalent Pillar Rule 7.18P ``Halts'', deleting the ``P'' modifier in the remaining rule; Deleting obsolete Rule 7.31 ``Orders and Modifiers'' that has been superseded by the equivalent Pillar Rule 7.31P of the same caption, deleting the ``P'' modifiers in the remaining rule; Deleting obsolete Rule 7.34 ``Trading Sessions'' that has been replaced by the equivalent Pillar Rule 7.34P of the same caption, deleting the ``P'' modifiers in the remaining rule; Deleting obsolete Rule 7.35 ``Auctions'' that has been superseded by the equivalent Pillar Rule 7.35P of the same caption, deleting the ``P'' modifiers in the remaining rule; Deleting obsolete Rule 7.36 ``Order Ranking and Display'' that has been superseded by the equivalent Pillar Rule 7.36P of the same caption, deleting the ``P'' modifiers in the remaining rule; Deleting obsolete Rule 7.37 ``Order Execution'' that has been superseded by the equivalent Pillar Rule 7.37P ``Order Execution and Routing'', deleting the ``P'' modifiers in the remaining rule; Deleting obsolete Rule 7.38 ``Odd and Mixed Lots'' that has been superseded by the equivalent Pillar Rule 7.38P of the same caption, deleting the ``P'' modifiers in the remaining rule; and Deleting obsolete Rule 7.44 ``Retail Liquidity Program'' that has been superseded by the equivalent Pillar Rule 7.44P of the same caption, deleting the ``P'' modifiers in the remaining rule. 2. Statutory Basis The proposed rule changes are consistent with Section 6(b) of the Act,\8\ in general, and further the objectives of Section 6(b)(5) of the Act,\9\ in particular, in that they are designed to prevent fraudulent and manipulative acts and [[Page 71561]] practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in facilitating transactions in securities, and to remove impediments to and perfect the mechanism of a free and open market and a national market system, and in general, to protect investors and the public interest. --------------------------------------------------------------------------- \8\ 15 U.S.C. 78f(b). \9\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- In particular, the Exchange believes that amending its rules to remove definitions and trading rules that are no longer operative after the completed full migration of all symbols to the Pillar trading system would promote the protection of investors and the public interest because it would promote clarity and transparency in Exchange rules governing what rules govern trading on the Exchange. The Exchange further believes that deleting superseded rules that were applicable only to the prior trading system, and deleting the ``P'' modifier that distinguished the Pillar trading rules from the now obsolete rules during this transitional period to a single trading platform and a single set of rules governing trading, would remove impediments to and perfect the mechanism of a national market system because these proposed changes would add greater clarity to the Exchange's rules and promote market transparency and efficiency. B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe that the proposed rule change would impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. The proposed rule change is not designed to address competitive issues but rather is designed to ensure a fair and orderly market by removing definitions and trading rules that are no longer operative after the completed full migration of all symbols to the Pillar trading system. As such, the proposed rule changes are intended to promote greater efficiency and transparency concerning trading on the Exchange. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the proposed rule change does not (i) significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A) of the Act \10\ and Rule 19b-4(f)(6) thereunder.\11\ --------------------------------------------------------------------------- \10\ 15 U.S.C. 78s(b)(3)(A). \11\ 17 CFR 240.19b-4(f)(6). As required under Rule 19b- 4(f)(6)(iii), the Exchange provided the Commission with written notice of its intent to file the proposed rule change, along with a brief description and the text of the proposed rule change, at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. --------------------------------------------------------------------------- A proposed rule change filed pursuant to Rule 19b-4(f)(6) under the Act \12\ normally does not become operative for 30 days after the date of its filing. However, Rule 19b-4(f)(6)(iii) \13\ permits the Commission to designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has asked the Commission to waive the 30-day operative delay so that the proposal may become operative immediately upon filing. The Exchange stated that waiver of the operative delay is consistent with the protection of investors and the public interest because it has completed its transition to a single trading platform and such waiver would permit the Exchange to immediately provide enhanced transparency in Exchange rules regarding equities trading. The Commission believes the waiver of the operative delay is consistent with the protection of investors and the public interest. Therefore, the Commission hereby waives the operative delay and designates the proposal operative upon filing.\14\ --------------------------------------------------------------------------- \12\ 17 CFR 240.19b-4(f)(6). \13\ 17 CFR 240.19b-4(f)(6)(iii). \14\ For purposes only of waiving the 30-day operative delay, the Commission has also considered the proposed rule's impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). --------------------------------------------------------------------------- At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule change should be approved or disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic Comments Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to [email protected]. Please include File Number SR-NYSEArca-2016-135 on the subject line. Paper Comments Send paper comments in triplicate to Brent J. Fields, Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-NYSEArca-2016-135. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for Web site viewing and printing in the Commission's Public Reference Room, 100 F Street NE., Washington, DC 20549 on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of such filing also will be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR-NYSEArca-2016-135, and should be submitted on or before November 7, 2016. --------------------------------------------------------------------------- \15\ 17 CFR 200.30-3(a)(12). [[Page 71562]] --------------------------------------------------------------------------- For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\15\ Robert W. Errett, Deputy Secretary. [FR Doc. 2016-24981 Filed 10-14-16; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 81, No. 200 / Monday, October 17, 2016 / Notices 71559
100 F Street, NE., Washington, DC regulation, including Rule 17a–4. The SECURITIES AND EXCHANGE
20549–2736. staff estimates that the hourly salary of COMMISSION
Extension: a Compliance Clerk is $65 per hour.1
Rule 17a–4. SEC File No. 270–198, OMB Based upon these numbers, the total [Release No. 34–79078; File No. SR–
Control No. 3235–0279. internal cost of compliance for 4,104 NYSEArca–2016–135]
Notice is hereby given that pursuant respondents is the dollar cost of
to the Paperwork Reduction Act of 1995 approximately $67.8 million (1,042,416 Self-Regulatory Organizations; NYSE
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the yearly hours x $65). The total burden Arca, Inc.; Notice of Filing and
Securities and Exchange Commission hour decrease of 242,062 is due to a Immediate Effectiveness of Proposed
(‘‘Commission’’) has submitted to the decrease in the number of respondents Rule Change Amending Its Rules To
Office of Management and Budget from 5,057 to 4,104. Remove Definitions and Trading Rules
(‘‘OMB’’) a request for extension of the Based on conversations with members That Are No Longer Operative After the
previously approved collection of of the securities industry and the Completed Full Migration of All
information provided for in Rule 17a–4 Commission’s experience in the area, Symbols to the Pillar Trading Platform
(17 CFR 240.17a–4), under the the staff estimates that the average
Securities Exchange Act of 1934 (15 broker-dealer spends approximately October 11, 2016.
U.S.C. 78a et seq.). $5,000 each year to store documents Pursuant to Section 19(b)(1) 1 of the
Rule 17a–4 requires approximately required to be retained under Rule 17a– Securities Exchange Act of 1934 (the
4,104 active, registered exchange 4. Costs include the cost of physical
‘‘Act’’),2 and Rule 19b–4 thereunder,3
members, brokers and dealers (‘‘broker- space, computer hardware and software,
notice is hereby given that on
dealers’’) to preserve for prescribed etc., which vary widely depending on
September 28, 2016, NYSE Arca, Inc.
periods of time certain records required the size of the broker-dealer and the
type of storage media employed. The (the ‘‘Exchange’’ or ‘‘NYSE Arca’’) filed
to be made by Rule 17a–3 and other with the Securities and Exchange
Commission rules, and other kinds of Commission estimates that the annual
reporting and recordkeeping cost Commission (the ‘‘Commission’’) the
records which firms make or receive in proposed rule change as described in
the ordinary course of business. Rule burden is $20,520,000. This cost is
calculated by the number of active, Items I and II below, which Items have
17a–4 also permits broker-dealers to
registered broker-dealers multiplied by been prepared by the self-regulatory
employ, under certain conditions,
the reporting and recordkeeping cost for organization. The Commission is
electronic storage media to maintain
these required records. The records each respondent (4,104 active, publishing this notice to solicit
required to be maintained under Rule registered broker-dealers × $5,000). comments on the proposed rule change
17a–4 are used by examiners and other An agency may not conduct or from interested persons.
representatives of the Commission to sponsor, and a person is not required to I. Self-Regulatory Organization’s
determine whether broker-dealers are in respond to, a collection of information Statement of the Terms of Substance of
compliance with, and to enforce their under the PRA unless it displays a the Proposed Rule Change
compliance with, the Commission’s currently valid OMB control number.
rules. The public may view the background The Exchange proposes to amend its
There are approximately 4,104 active, documentation for this information rules to remove definitions and trading
registered broker-dealers. The staff collection at the following Web site: rules that are no longer operative after
estimates that the average amount of www.reginfo.gov. Comments should be the completed full migration of all
time necessary to preserve the books directed to: (i) Desk Officer for the symbols to the Pillar trading platform.
and records as required by Rule 17a–4 Securities and Exchange Commission, The proposed rule change is available
is 254 hours per broker-dealer per year. Office of Information and Regulatory on the Exchange’s Web site at
In addition, the Commission is moving Affairs, Office of Management and www.nyse.com, at the principal office of
into this information collection the Budget, Room 10102, New Executive the Exchange, and at the Commission’s
annual burden hours for paragraph Office Building, Washington, DC 20503, Public Reference Room.
(b)(11) of Rule 17a–4, which requires or by sending an email to: Shagufta_
any broker-dealer that sponsors an Ahmed@omb.eop.gov; and (ii) Pamela II. Self-Regulatory Organization’s
internal broker-dealer system to Dyson, Director/Chief Information Statement of the Purpose of, and
maintain certain records relating to such Officer, Securities and Exchange Statutory Basis for, the Proposed Rule
system for at least three years. The Commission, c/o Remi Pavlik-Simon, Change
Commission estimates that paragraph 100 F Street NE., Washington, DC
(b)(11) of Rule 17a–4 imposes an annual 20549, or by sending an email to: PRA_ In its filing with the Commission, the
burden of 3 hours per year to maintain Mailbox@sec.gov. Comments must be self-regulatory organization included
the requisite records. The Commission submitted to OMB within 30 days of statements concerning the purpose of,
estimates that there are approximately this notice. and basis for, the proposed rule change
150 internal broker-dealer systems, and discussed any comments it received
Dated: October 11, 2016.
resulting in an annual recordkeeping on the proposed rule change. The text
Robert W. Errett, of those statements may be examined at
burden of 450 hours. Therefore, the
Commission estimates that compliance Deputy Secretary. the places specified in Item IV below.
[FR Doc. 2016–24977 Filed 10–14–16; 8:45 am] The Exchange has prepared summaries,
jstallworth on DSK7TPTVN1PROD with NOTICES
with Rule 17a–4 requires 1,042,866
hours each year ((4,104 broker-dealers × BILLING CODE 8011–01–P set forth in sections A, B, and C below,
254 hours) + (150 broker-dealers × 3 of the most significant parts of such
hours). These burdens are 1 This figure is based on SIFMA’s Office Salaries
statements.
recordkeeping burdens. in the Securities Industry 2016, modified by
Commission staff to account for an 1,800-hour
The staff believes that compliance work-year multiplied by 2.93 to account for
1 15 U.S.C. 78s(b)(1).
personnel would be charged with bonuses, firm size, employee benefits, and 2 15 U.S.C. 78a.
ensuring compliance with Commission overhead. 3 17 CFR 240.19b–4.
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![71562 Federal Register / Vol. 81, No. 200 / Monday, October 17, 2016 / Notices
For the Commission, by the Division of Accordingly, Dated: October 11, 2016.
Trading and Markets, pursuant to delegated It is ordered, under sections 17(d) and Mark Taplin,
authority.15 57(i) of the Act and rule 17d–1 under Principal Deputy Assistant Secretary, Bureau
Robert W. Errett, the Act, that the relief requested by AB of Educational and Cultural Affairs,
Deputy Secretary. Private Credit Investors Corporation, et Department of State.
[FR Doc. 2016–24981 Filed 10–14–16; 8:45 am] al. (File No. 812–14453) is granted, [FR Doc. 2016–25031 Filed 10–14–16; 8:45 am]
BILLING CODE 8011–01–P effective immediately, subject to the BILLING CODE 4710–05–P
conditions contained in the application,
as amended.
SECURITIES AND EXCHANGE For the Commission, by the Division of DEPARTMENT OF STATE
COMMISSION Investment Management, under delegated [Public Notice: 9761]
authority.
[Release No. 32310/October 11, 2016]
Robert W. Errett, Industry Advisory Group: Notice of
Investment Company Act of 1940 Deputy Secretary. Open Meeting
[FR Doc. 2016–24983 Filed 10–14–16; 8:45 am]
In the Matter of: AB Private Credit The Industry Advisory Group (IAG) of
BILLING CODE 8011–01–P the Bureau of Overseas Buildings
Investors Corporation, AB Private Credit
Investors Middle Market Direct Lending Operations (OBO) will meet on
Fund, L.P., AB Energy Opportunity Fund, Thursday, November 3 from 2:00 p.m.
L.P., AB Private Credit Investors LLC, 1345 DEPARTMENT OF STATE until 4:00 p.m. Eastern Daylight Time.
Avenue of the Americas, New York, NY [Public Notice: 9762] The meeting is open to the public and
10105, (812–14453) will be held in the Loy Henderson
Order Under Sections 17(d) and 57(i) of Culturally Significant Objects Imported Conference Room of the U.S.
the Investment Company Act of 1940 for Exhibition Determinations: ‘‘Doris Department of State, located at 2201 C
and Rule 17d–1 Under the Act Salcedo: The Materiality of Mourning’’ Street NW., (entrance on 23rd Street)
Exhibition Washington, DC For logistical and
AB Private Credit Investors security reasons, the public must enter
Corporation, AB Private Credit Investors SUMMARY: Notice is hereby given of the and exit the building using only the
Middle Market Direct Lending Fund, following determinations: Pursuant to 23rd Street entrance.
L.P., AB Energy Opportunity Fund, L.P., the authority vested in me by the Act of This committee serves the U.S.
and AB Private Credit Investors LLC October 19, 1965 (79 Stat. 985; 22 U.S.C. Government in a solely advisory
filed an application on April 30, 2015, 2459), E.O. 12047 of March 27, 1978, the capacity concerning industry and
and amendments to the application on Foreign Affairs Reform and academia’s latest concepts, methods,
October 5, 2015, and May 24, 2016, Restructuring Act of 1998 (112 Stat. best practices, innovations, and ideas
requesting an order under sections 17(d) 2681, et seq.; 22 U.S.C. 6501 note, et related to OBO’s mission to provide
and 57(i) of the Investment Company seq.), Delegation of Authority No. 234 of safe, secure, and functional facilities
Act of 1940 (the ‘‘Act’’) and rule 17d– October 1, 1999, Delegation of Authority that represent the U.S. Government to
1 under the Act that would permit No. 236–3 of August 28, 2000 (and, as the host nation and support our staff in
certain joint transactions otherwise appropriate, Delegation of Authority No. the achievement of U.S. foreign policy
prohibited by sections 17(d) and 57(a)(4) 257 of April 15, 2003), I hereby objectives. These facilities should
of the Act and rule 17d–1 under the Act. determine that the objects to be represent American values and the best
The order would permit a business included in the exhibition ‘‘Doris in American architecture, engineering,
development company and certain Salcedo: The Materiality of Mourning,’’ technology, sustainability, art, culture,
closed end investment companies imported from abroad for temporary and construction execution.
(collectively, the ‘‘Regulated Funds’’) to exhibition within the United States, are The majority of the meeting will be
co-invest in portfolio companies with of cultural significance. The objects are devoted to discussions between the
each other and with affiliated imported pursuant to loan agreements Department’s senior management and
investment funds. with the foreign owners or custodians. IAG representatives with respect to
On September 13, 2016, a notice of I also determine that the exhibition or industry and academia’s latest concepts,
the filing of the application was issued display of the exhibit objects at the methods, best practices, innovations
(Investment Company Act Release No. Harvard Art Museums, Cambridge, and ideas related to property
32261). The notice gave interested Massachusetts, from on or about management that are applicable to
persons an opportunity to request a November 4, 2016, until on or about OBO’s vital mission. Reasonable time
hearing and stated that an order April 9, 2017, and at possible additional will be provided for members of the
disposing of the application would be exhibitions or venues yet to be public to provide comment.
issued unless a hearing was ordered. No determined, is in the national interest. Admittance to the State Department
request for a hearing has been filed, and I have ordered that Public Notice of building will be by means of a pre-
the Commission has not ordered a these Determinations be published in arranged clearance list. To register for
hearing. the Federal Register. the meeting, please visit the OBO Web
The matter has been considered and FOR FURTHER INFORMATION CONTACT: For site at http://
it is found, on the basis of the further information, including a list of overseasbuildings.state.gov/ for the
information set forth in the application, the imported objects, contact the Office registration page by Friday, October 21.
jstallworth on DSK7TPTVN1PROD with NOTICES
as amended, that participation by the of Public Diplomacy and Public Affairs In order to register, you must provide
Regulated Funds in the proposed in the Office of the Legal Adviser, U.S. the following information: First and last
transactions is consistent with the Department of State (telephone: 202– name, company/firm name, date of
provisions, policies and purposes of the 632–6471; email: section2459@ birth, country of citizenship, and the
Act and is on a basis no less state.gov). The mailing address is U.S. number and issuing country/state
advantageous than that of other Department of State, L/PD, SA–5, Suite associated with a valid government-
participants. 5H03, Washington, DC 20522–0505. issued ID (i.e., U.S. Government ID, U.S.
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Document Created: 2016-10-15 01:51:57
Document Modified: 2016-10-15 01:51:57
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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