82_FR_1774 82 FR 1770 - Notice of Applications For Deregistration Under Section 8(f) of the Investment Company Act of 1940

82 FR 1770 - Notice of Applications For Deregistration Under Section 8(f) of the Investment Company Act of 1940

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 4 (January 6, 2017)

Page Range1770-1772
FR Document2016-32041

Applicant seeks an order declaring that it has ceased to be an investment company. On September 30, 2016, applicant made a liquidating distribution to its shareholders, based on net asset value. Expenses of $5,159 incurred in connection with the liquidation were paid by applicant's investment adviser. Filing Date: The application was filed on October 18, 2016. Applicant's Address: 44 River Road, Suite A, Wayland, Massachusetts 01778.

Federal Register, Volume 82 Issue 4 (Friday, January 6, 2017) 
[Federal Register Volume 82, Number 4 (Friday, January 6, 2017)]
[Notices]
[Pages 1770-1772]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-32041]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. IC-32407]


Notice of Applications For Deregistration Under Section 8(f) of 
the Investment Company Act of 1940

December 30, 2016.
    The following is a notice of applications for deregistration under 
section 8(f) of the Investment Company Act of 1940 for the month of 
December 2016. A copy of each application may be obtained via the 
Commission's Web site by searching for the file number, or for an 
applicant using the Company name box, at http://www.sec.gov/search/search.htm or by calling (202) 551-8090. An order granting each 
application will be issued unless the SEC orders a hearing. Interested 
persons may request a hearing on any application by writing to the 
SEC's Secretary at the address below and serving the relevant applicant 
with a copy of the request, personally or by mail. Hearing requests 
should be received by the SEC by 5:30 p.m. on January 24, 2017, and 
should be accompanied by proof of service on applicants, in the form of 
an affidavit or, for lawyers, a certificate of service. Pursuant to 
Rule 0-5 under the Act, hearing requests should state the nature of the 
writer's interest, any facts bearing upon the desirability of a hearing 
on the matter, 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.

Address:  The Commission: Secretary, U.S. Securities and Exchange 
Commission, 100 F Street NE., Washington, DC 20549-1090.

For Further Information Contact:  Hae-Sung Lee, Attorney-Adviser, at 
(202) 551-7345 or Chief Counsel's Office at (202) 551-6821; SEC, 
Division of Investment Management, Chief Counsel's Office, 100 F Street 
NE., Washington, DC 20549-8010.

Davlin Philanthropic Funds [File No. 811-22178]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On September 30, 2016, applicant made a 
liquidating distribution to its shareholders, based on net asset value. 
Expenses of $5,159 incurred in connection with the liquidation were 
paid by applicant's investment adviser.
    Filing Date: The application was filed on October 18, 2016.
    Applicant's Address: 44 River Road, Suite A, Wayland, Massachusetts 
01778.

AllianceBernstein Income Fund, Inc. [File No. 811-05207]

    Summary: Applicant, a closed-end investment company, seeks an order 
declaring that it has ceased to be an investment company. Applicant has 
transferred its assets to AB Income Fund, a series of AB Bond Fund, 
Inc., and, on April 22, 2016, made a final distribution to its 
shareholders based on net asset value. Expenses of $723,279 incurred in 
connection with the reorganization were paid by applicant and 
applicant's investment adviser.
    Filing Date: The application was filed on November 18, 2016.
    Applicant's Address: 1345 Avenue of the Americas, New York, NY 
10105.

Destra Investment Trust II [File No. 811-22523]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. Applicant has transferred its assets to 
Destra Investment Trust, and, on September 30, 2016, made a final 
distribution to its shareholders based on net asset value. Expenses of 
$32,000 incurred in connection with the reorganization were paid by 
applicant's investment adviser.
    Filing Date: The application was filed on November 22, 2016.
    Applicant's Address: One North Wacker Drive, 48th Floor, Chicago, 
IL 60606.

Realty Capital Income Funds Trust [File No. 811-22785]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. Applicant has transferred its assets to SCM 
Trust, and, on November 7, 2016, made a final distribution to its 
shareholders based on net asset value. Expenses of $82,000 incurred in 
connection with the reorganization were paid by applicant's investment 
adviser.
    Filing Date: The application was filed on November 22, 2016.
    Applicant's Address: 405 Park Avenue, 14th Floor, New York, NY 
10022.

AIP Series Trust [File No. 811-22789]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On May 25, 2016, applicant made a liquidating 
distribution to its shareholders, based on net asset value. Expenses of 
$9,264 incurred in connection with the liquidation were paid by 
applicant.
    Filing Dates: The application was filed on October 28, 2016, and 
amended on November 28, 2016.

[[Page 1771]]

    Applicant's Address: c/o Morgan Stanley AIP GP LP, 522 Fifth 
Avenue, New York, New York 10036.

Montgomery Street Income Securities, Inc. [File No. 811-02340]

    Summary: Applicant, a closed-end investment company, seeks an order 
declaring that it has ceased to be an investment company. On December 
29, 2015 applicant made a liquidating distribution to its transfer 
agent, based on net asset value. The applicant's transfer agent began 
making liquidating distributions to shareholders on January 4, 2016 and 
will continue to make liquidating distributions to shareholders 
pursuant to a Plan of Dissolution and Liquidation. If the applicant's 
transfer agent is unable to make a distribution due to inability to 
locate shareholders to whom distributions are payable, the transfer 
agent will manage the distributions in accordance with applicable 
abandoned property laws. Expenses of $347,689 incurred in connection 
with the liquidation were paid by applicant.
    Filing Dates: The application was filed on November 1, 2016, and 
amended on November 28, 2016.
    Applicant's Address: c/o Atlantic Fund Administration, LLC, Three 
Canal Plaza, Suite 600, Portland, Maine 04101.

Stralem Fund [File No. 811-01920]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. The applicant has transferred its assets to a 
corresponding series of Ultimus Managers Trust and, on October 14, 
2016, made a final distribution to its shareholders based on net asset 
value. Expenses of $110,700 incurred in connection with the 
reorganization were paid by applicant's investment adviser.
    Filing Dates: The application was filed on October 28, 2016, and 
amended on November 28, 2016.
    Applicant's Address: 225 Pictoria Drive, Suite 450, Cincinnati, 
Ohio 45246.

First Trust Dividend & Income Fund [File No. 811-22080]

    Summary: Applicant, a closed-end investment company, seeks an order 
declaring that it has ceased to be an investment company. The applicant 
has transferred its assets to First Trust High Income ETF, a series of 
First Trust Exchange-Traded Fund VI, and, on October 21, 2016, made a 
final distribution to its shareholders based on net asset value. 
Expenses of $375,115 incurred in connection with the reorganization 
were paid by applicant, applicant's investment adviser, and the 
acquiring fund.
    Filing Dates: The application was filed on October 31, 2016, and 
amended on November 30, 2016.
    Applicant's Address: 120 East Liberty Drive, Suite 400, Wheaton, 
Illinois 60187.

BPV Family of Funds [File No. 811-22588]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On August 29, 2016, applicant made a 
liquidating distribution to its shareholders, based on net asset value. 
Expenses of approximately $118,949 incurred in connection with the 
liquidation were paid by applicant.
    Filing Date: The application was filed on December 1, 2016.
    Applicant's Address: c/o BPV Capital Management, LLC, 9202 
Northshore Dr., Suite 300, Knoxville, Tennessee 37922.

Western Asset Emerging Markets Income Fund Inc. [File No. 811-07066]

    Summary: Applicant, a closed-end investment company, seeks an order 
declaring that it has ceased to be an investment company. The applicant 
has transferred its assets to Western Asset Emerging Markets Income 
Fund Inc. and, on October 31, 2008, made a final distribution to its 
shareholders based on net asset value. Expenses of $105,000 incurred in 
connection with the reorganization were paid by applicant, Legg Mason, 
Inc., and the acquiring fund.
    Filing Dates: The application was filed on October 21, 2016, and 
amended on December 7, 2016.
    Applicant's Address: 55 Water Street, New York, New York 10041.

Western Asset Emerging Markets Floating Rate Fund Inc. [File No. 811-
08338]

    Summary: Applicant, a closed-end investment company, seeks an order 
declaring that it has ceased to be an investment company. The applicant 
has transferred its assets to Western Asset Emerging Markets Debt Fund 
Inc. and, on September 14, 2009, made a final distribution to its 
shareholders based on net asset value. Expenses of $105,000 incurred in 
connection with the reorganization were paid by applicant, Legg Mason, 
Inc., and the acquiring fund.
    Filing Dates: The application was filed on October 21, 2016, and 
amended on December 7, 2016.
    Applicant's Address: 55 Water Street, New York, New York 10041.

Western Asset High Income Fund Inc. [File No. 811-07162]

    Summary: Applicant, a closed-end investment company, seeks an order 
declaring that it has ceased to be an investment company. The applicant 
has transferred its assets to Western Asset High Income Opportunity 
Fund Inc. and, on June 24, 2013, made a final distribution to its 
shareholders based on net asset value. Expenses of $176,000 incurred in 
connection with the reorganization were paid by applicant and 
applicant's investment adviser.
    Filing Dates: The application was filed on October 21, 2016, and 
amended on December 7, 2016.
    Applicant's Address: 620 Eighth Avenue, 49th Floor, New York, New 
York 10018.

Western Asset Municipal Partners Fund II Inc. [File No. 811-07812]

    Summary: Applicant, a closed-end investment company, seeks an order 
declaring that it has ceased to be an investment company. The applicant 
has transferred its assets to Western Asset Municipal Partners Fund 
Inc. and, on June 23, 2007, made a final distribution to its 
shareholders based on net asset value. Expenses of $195,000 incurred in 
connection with the reorganization were paid by applicant and the 
acquiring fund.
    Filing Dates: The application was filed on October 21, 2016, and 
amended on December 7, 2016.
    Applicant's Address: 125 Broad Street, New York, New York 10004.

Westport Funds [File No. 811-08359]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. Applicant has transferred its assets to 
Hennessy Cornerstone Mid Cap 30 Fund, a series of Hennessy Funds Trust, 
and, on September 22, 2016, made a final distribution to its 
shareholders based on net asset value. Expenses of approximately 
$380,873 incurred in connection with the reorganization were paid by 
applicant's investment adviser and the acquiring fund's investment 
adviser.
    Filing Dates: The application was filed on November 10, 2016, and 
amended on December 14, 2016.
    Applicant's Address: 253 Riverside Avenue, Westport, Connecticut 
06880.

City National Rochdale International Trade Fixed Income Fund [File No. 
811-22552]

    Summary: Applicant, a closed-end investment company, seeks an order 
declaring that it has ceased to be an investment company. On November 
18,

[[Page 1772]]

2016, applicant made a final liquidating distribution to its 
shareholders, based on net asset value. Expenses of $33,332 incurred in 
connection with the liquidation were paid by applicant.
    Filing Dates: The application was filed on December 23, 2014, and 
amended on December 7, 2016 and December 22, 2016.
    Applicant's Address: 400 Park Avenue, New York, New York 10022.

    For the Commission, by the Division of Investment Management, 
pursuant to delegated authority.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2016-32041 Filed 1-5-17; 8:45 am]
 BILLING CODE 8011-01-P

1770 Federal Register / Vol. 82, No. 4 / Friday, January 6, 2017 / Notices Comments may be submitted by any of SECURITIES AND EXCHANGE Applicant’s Address: 44 River Road, the following methods: COMMISSION Suite A, Wayland, Massachusetts 01778. Electronic Comments AllianceBernstein Income Fund, Inc. [Release No. IC–32407] [File No. 811–05207] • Use the Commission’s Internet Notice of Applications For Summary: Applicant, a closed-end comment form (http://www.sec.gov/ investment company, seeks an order rules/sro.shtml); or Deregistration Under Section 8(f) of the Investment Company Act of 1940 declaring that it has ceased to be an • Send an email to rule-comments@ investment company. Applicant has sec.gov. Please include File No. SR– December 30, 2016. transferred its assets to AB Income NYSEMKT–2016–123 on the subject The following is a notice of Fund, a series of AB Bond Fund, Inc., line. applications for deregistration under and, on April 22, 2016, made a final section 8(f) of the Investment Company distribution to its shareholders based on Paper Comments net asset value. Expenses of $723,279 Act of 1940 for the month of December • Send paper comments in triplicate 2016. A copy of each application may be incurred in connection with the to Secretary, Securities and Exchange obtained via the Commission’s Web site reorganization were paid by applicant Commission, 100 F Street NE., by searching for the file number, or for and applicant’s investment adviser. an applicant using the Company name Filing Date: The application was filed Washington, DC 20549–1090. box, at http://www.sec.gov/search/ on November 18, 2016. All submissions should refer to File No. search.htm or by calling (202) 551– Applicant’s Address: 1345 Avenue of SR–NYSEMKT–2016–123. This file 8090. An order granting each the Americas, New York, NY 10105. number should be included on the application will be issued unless the Destra Investment Trust II [File No. subject line if email is used. To help the SEC orders a hearing. Interested persons 811–22523] Commission process and review your may request a hearing on any comments more efficiently, please use Summary: Applicant seeks an order application by writing to the SEC’s declaring that it has ceased to be an only one method. The Commission will Secretary at the address below and investment company. Applicant has post all comments on the Commission’s serving the relevant applicant with a transferred its assets to Destra Internet Web site (http://www.sec.gov/ copy of the request, personally or by Investment Trust, and, on September 30, rules/sro.shtml). Copies of the mail. Hearing requests should be 2016, made a final distribution to its submission, all subsequent received by the SEC by 5:30 p.m. on shareholders based on net asset value. amendments, all written statements January 24, 2017, and should be Expenses of $32,000 incurred in with respect to the proposed rule accompanied by proof of service on connection with the reorganization were change that are filed with the applicants, in the form of an affidavit or, paid by applicant’s investment adviser. Commission, and all written for lawyers, a certificate of service. Filing Date: The application was filed communications relating to the Pursuant to Rule 0–5 under the Act, on November 22, 2016. proposed rule change between the hearing requests should state the nature Applicant’s Address: One North Commission and any person, other than of the writer’s interest, any facts bearing Wacker Drive, 48th Floor, Chicago, IL those that may be withheld from the upon the desirability of a hearing on the 60606. public in accordance with the matter, the reason for the request, and the issues contested. Persons who wish Realty Capital Income Funds Trust provisions of 5 U.S.C. 552, will be to be notified of a hearing may request [File No. 811–22785] available for Web site viewing and printing in the Commission’s Public notification by writing to the Summary: Applicant seeks an order Reference Room, 100 F Street NE., Commission’s Secretary. declaring that it has ceased to be an Washington, DC 20549 on official ADDRESS: The Commission: Secretary, investment company. Applicant has business days between the hours of U.S. Securities and Exchange transferred its assets to SCM Trust, and, 10:00 a.m. and 3:00 p.m. Copies of such Commission, 100 F Street NE., on November 7, 2016, made a final filing also will be available for Washington, DC 20549–1090. distribution to its shareholders based on inspection and copying at the principal net asset value. Expenses of $82,000 FOR FURTHER INFORMATION CONTACT: office of the Exchange. All comments incurred in connection with the Hae-Sung Lee, Attorney-Adviser, at reorganization were paid by applicant’s received will be posted without change; (202) 551–7345 or Chief Counsel’s the Commission does not edit personal investment adviser. Office at (202) 551–6821; SEC, Division Filing Date: The application was filed identifying information from of Investment Management, Chief on November 22, 2016. submissions. You should submit only Counsel’s Office, 100 F Street NE., Applicant’s Address: 405 Park information that you wish to make Washington, DC 20549–8010. Avenue, 14th Floor, New York, NY available publicly. All submissions 10022. should refer to File No. SR–NYSEMKT– Davlin Philanthropic Funds [File No. 2016–123, and should be submitted on 811–22178] AIP Series Trust [File No. 811–22789] or before January 27, 2017. Summary: Applicant seeks an order Summary: Applicant seeks an order For the Commission, by the Division of declaring that it has ceased to be an declaring that it has ceased to be an Trading and Markets, pursuant to delegated investment company. On September 30, investment company. On May 25, 2016, 2016, applicant made a liquidating sradovich on DSK3GMQ082PROD with NOTICES authority.18 applicant made a liquidating distribution to its shareholders, based distribution to its shareholders, based Eduardo A. Aleman, on net asset value. Expenses of $5,159 on net asset value. Expenses of $9,264 Assistant Secretary. incurred in connection with the incurred in connection with the [FR Doc. 2016–32040 Filed 1–5–17; 8:45 am] liquidation were paid by applicant’s liquidation were paid by applicant. BILLING CODE 8011–01–P investment adviser. Filing Dates: The application was Filing Date: The application was filed filed on October 28, 2016, and amended 18 17 CFR 200.30–3(a)(12). on October 18, 2016. on November 28, 2016. VerDate Sep<11>2014 18:06 Jan 05, 2017 Jkt 241001 PO 00000 Frm 00086 Fmt 4703 Sfmt 4703 E:\FR\FM\06JAN1.SGM 06JAN1

Federal Register / Vol. 82, No. 4 / Friday, January 6, 2017 / Notices 1771 Applicant’s Address: c/o Morgan applicant’s investment adviser, and the Western Asset High Income Fund Inc. Stanley AIP GP LP, 522 Fifth Avenue, acquiring fund. [File No. 811–07162] New York, New York 10036. Filing Dates: The application was Summary: Applicant, a closed-end filed on October 31, 2016, and amended investment company, seeks an order Montgomery Street Income Securities, on November 30, 2016. declaring that it has ceased to be an Inc. [File No. 811–02340] Applicant’s Address: 120 East Liberty investment company. The applicant has Summary: Applicant, a closed-end Drive, Suite 400, Wheaton, Illinois transferred its assets to Western Asset investment company, seeks an order 60187. High Income Opportunity Fund Inc. declaring that it has ceased to be an and, on June 24, 2013, made a final investment company. On December 29, BPV Family of Funds [File No. 811– 22588] distribution to its shareholders based on 2015 applicant made a liquidating net asset value. Expenses of $176,000 distribution to its transfer agent, based Summary: Applicant seeks an order incurred in connection with the on net asset value. The applicant’s declaring that it has ceased to be an reorganization were paid by applicant transfer agent began making liquidating investment company. On August 29, and applicant’s investment adviser. distributions to shareholders on January 2016, applicant made a liquidating Filing Dates: The application was 4, 2016 and will continue to make distribution to its shareholders, based filed on October 21, 2016, and amended liquidating distributions to shareholders on net asset value. Expenses of on December 7, 2016. pursuant to a Plan of Dissolution and approximately $118,949 incurred in Applicant’s Address: 620 Eighth Liquidation. If the applicant’s transfer connection with the liquidation were Avenue, 49th Floor, New York, New agent is unable to make a distribution paid by applicant. York 10018. due to inability to locate shareholders to Filing Date: The application was filed whom distributions are payable, the Western Asset Municipal Partners Fund on December 1, 2016. transfer agent will manage the II Inc. [File No. 811–07812] Applicant’s Address: c/o BPV Capital distributions in accordance with Management, LLC, 9202 Northshore Dr., Summary: Applicant, a closed-end applicable abandoned property laws. Suite 300, Knoxville, Tennessee 37922. investment company, seeks an order Expenses of $347,689 incurred in declaring that it has ceased to be an connection with the liquidation were Western Asset Emerging Markets investment company. The applicant has paid by applicant. Income Fund Inc. [File No. 811–07066] transferred its assets to Western Asset Filing Dates: The application was Summary: Applicant, a closed-end Municipal Partners Fund Inc. and, on filed on November 1, 2016, and investment company, seeks an order June 23, 2007, made a final distribution amended on November 28, 2016. declaring that it has ceased to be an to its shareholders based on net asset Applicant’s Address: c/o Atlantic investment company. The applicant has value. Expenses of $195,000 incurred in Fund Administration, LLC, Three Canal transferred its assets to Western Asset connection with the reorganization were Plaza, Suite 600, Portland, Maine 04101. Emerging Markets Income Fund Inc. paid by applicant and the acquiring and, on October 31, 2008, made a final fund. Stralem Fund [File No. 811–01920] Filing Dates: The application was distribution to its shareholders based on Summary: Applicant seeks an order net asset value. Expenses of $105,000 filed on October 21, 2016, and amended declaring that it has ceased to be an incurred in connection with the on December 7, 2016. investment company. The applicant has reorganization were paid by applicant, Applicant’s Address: 125 Broad transferred its assets to a corresponding Legg Mason, Inc., and the acquiring Street, New York, New York 10004. series of Ultimus Managers Trust and, fund. Westport Funds [File No. 811–08359] on October 14, 2016, made a final Filing Dates: The application was Summary: Applicant seeks an order distribution to its shareholders based on filed on October 21, 2016, and amended declaring that it has ceased to be an net asset value. Expenses of $110,700 on December 7, 2016. investment company. Applicant has incurred in connection with the Applicant’s Address: 55 Water Street, transferred its assets to Hennessy reorganization were paid by applicant’s New York, New York 10041. Cornerstone Mid Cap 30 Fund, a series investment adviser. Western Asset Emerging Markets of Hennessy Funds Trust, and, on Filing Dates: The application was September 22, 2016, made a final Floating Rate Fund Inc. [File No. 811– filed on October 28, 2016, and amended distribution to its shareholders based on 08338] on November 28, 2016. net asset value. Expenses of Applicant’s Address: 225 Pictoria Summary: Applicant, a closed-end approximately $380,873 incurred in Drive, Suite 450, Cincinnati, Ohio investment company, seeks an order connection with the reorganization were 45246. declaring that it has ceased to be an paid by applicant’s investment adviser investment company. The applicant has and the acquiring fund’s investment First Trust Dividend & Income Fund transferred its assets to Western Asset [File No. 811–22080] adviser. Emerging Markets Debt Fund Inc. and, Filing Dates: The application was Summary: Applicant, a closed-end on September 14, 2009, made a final filed on November 10, 2016, and investment company, seeks an order distribution to its shareholders based on amended on December 14, 2016. declaring that it has ceased to be an net asset value. Expenses of $105,000 Applicant’s Address: 253 Riverside investment company. The applicant has incurred in connection with the Avenue, Westport, Connecticut 06880. transferred its assets to First Trust High reorganization were paid by applicant, sradovich on DSK3GMQ082PROD with NOTICES Income ETF, a series of First Trust Legg Mason, Inc., and the acquiring City National Rochdale International Exchange-Traded Fund VI, and, on fund. Trade Fixed Income Fund [File No. October 21, 2016, made a final Filing Dates: The application was 811–22552] distribution to its shareholders based on filed on October 21, 2016, and amended Summary: Applicant, a closed-end net asset value. Expenses of $375,115 on December 7, 2016. investment company, seeks an order incurred in connection with the Applicant’s Address: 55 Water Street, declaring that it has ceased to be an reorganization were paid by applicant, New York, New York 10041. investment company. On November 18, VerDate Sep<11>2014 18:06 Jan 05, 2017 Jkt 241001 PO 00000 Frm 00087 Fmt 4703 Sfmt 4703 E:\FR\FM\06JAN1.SGM 06JAN1

1772 Federal Register / Vol. 82, No. 4 / Friday, January 6, 2017 / Notices 2016, applicant made a final liquidating II. Self-Regulatory Organization’s 7.35(d)(4), the Exchange publishes an distribution to its shareholders, based Statement of the Purpose of, and Official Closing Price for all securities on net asset value. Expenses of $33,332 Statutory Basis for, the Proposed Rule that trade on the NYSE Arca incurred in connection with the Change Marketplace. The term ‘‘Official Closing liquidation were paid by applicant. In its filing with the Commission, the Price’’ is defined in Rule 1.1(gg). Filing Dates: The application was The Exchange is proposing to amend self-regulatory organization included filed on December 23, 2014, and NYSE Arca Equities Rule 7.35(d)(4) to statements concerning the purpose of, amended on December 7, 2016 and provide that an Official Closing Price, as and basis for, the proposed rule change December 22, 2016. defined in NYSE Arca Equities Rule and discussed any comments it received Applicant’s Address: 400 Park 1.1(gg)(1), would not be reported for a on the proposed rule change. The text Avenue, New York, New York 10022. security if there were no consolidated of those statements may be examined at last-sale eligible trades in such security For the Commission, by the Division of the places specified in Item IV below. on a trading day.5 The Exchange does Investment Management, pursuant to The Exchange has prepared summaries, not believe that it should publish an delegated authority. set forth in sections A, B, and C below, Official Closing Price to the SIP as an Eduardo A. Aleman, of the most significant parts of such ‘‘M’’ value if there has not been a Assistant Secretary. statements. consolidated last-sale eligible trade in a [FR Doc. 2016–32041 Filed 1–5–17; 8:45 am] A. Self-Regulatory Organization’s security on a trading day. For example, BILLING CODE 8011–01–P Statement of the Purpose of, and the based on feedback from industry Statutory Basis for, the Proposed Rule participants, the Exchange understands Change that certain market participants, such as SECURITIES AND EXCHANGE index providers and mutual funds, COMMISSION 1. Purpose follow a different method of The Exchange proposes to amend determining a security’s closing price [Release No. 34–79713; File No. SR– NYSE Arca Equities Rule 7.35(d)(4) to when there have not been any last-sale NYSEARCA–2016–166] provide that the Exchange would not eligible trades on a trading day. Under report an Official Closing Price, as these circumstances, the Exchange Self-Regulatory Organizations; NYSE defined under NYSE Arca Equities Rule understands that an Official Closing Arca, Inc.; Notice of Filing and 1.1(gg)(1), if there were no consolidated Price reported to the SIP as an ‘‘M’’ sale Immediate Effectiveness of Proposed last-sale eligible trades on a trading day. condition that differs from how an Rule Change Amending NYSE Arca This proposed rule change would not industry market participant may Equities Rule 7.35(d)(4) change how the Official Closing Price determine such value for its own December 30, 2016. would be determined and disseminated purposes could lead to confusion if a if the Exchange is unable to conduct a market participant’s systems read the Pursuant to Section 19(b)(1) 1 of the closing transaction in one or more ‘‘M’’ value published by the SIP that Securities Exchange Act of 1934 (the securities due to a systems or technical differs from their calculation. ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 issue, as described in NYSE Arca Accordingly, this proposed rule notice is hereby given that, on December Equities Rules 1.1(gg)(2)–(4). change is intended to amend NYSE Arca 16, 2016, NYSE Arca, Inc. (the The Exchange reports an Official Equities Rule 7.35(d)(4) to provide that ‘‘Exchange’’ or ‘‘NYSE Arca’’) filed with Closing Price to the securities the Exchange would not report an the Securities and Exchange information processor (‘‘SIP’’) as an ‘‘M’’ Official Closing Price, as defined in Rule Commission (the ‘‘Commission’’) the sale condition.4 As set forth in the SIP 1.1(gg)(1), in a security as an ‘‘M’’ sale proposed rule change as described in Specifications, a price reported to the condition to the SIP if there were no Items I and II below, which Items have SIP by an exchange under the ‘‘M’’ sale consolidated last-sale eligible trades in been prepared by the self-regulatory condition, which is called the ‘‘Market such security on a trading day. And, as organization. The Commission is Center Official Close,’’ is not used for noted above, this proposed rule change publishing this notice to solicit purposes of determining a consolidated would not alter how the Official Closing comments on the proposed rule change last sale price or the high or low price Price would be disseminated under from interested persons. of a security and does not include any NYSE Arca Equities Rules 1.1(gg)(2)–(4). I. Self-Regulatory Organization’s volume information. Each exchange 2. Statutory Basis Statement of the Terms of Substance of determines what price could be reported the Proposed Rule Change to the SIP as its ‘‘Market Center Official The Exchange believes that the Close.’’ As provided for in Rule proposed rule change is consistent with The Exchange proposes to amend Section 6(b) of the Act,6 in general, and NYSE Arca Equities Rule 7.35(d)(4) to 4 For a description of all sale conditions that are furthers the objectives of Section 6(b)(5) provide that the Exchange would not reportable to the SIP, including the ‘‘M’’ and ‘‘6’’ of the Act,7 in particular, in that it is report an Official Closing Price, as sale conditions, see the Consolidated Tape System designed to prevent fraudulent and defined under NYSE Arca Equities Rule Participant Communications Interface Specification, dated September 15, 2016, at 87, manipulative acts and practices, to 1.1(gg)(1), if there were no consolidated available here: https://www.ctaplan.com/ promote just and equitable principles of last-sale eligible trades on a trading day. publicdocs/ctaplan/notifications/trader-update/cts_ trade, to foster cooperation and The proposed rule change is available input_spec.pdf, and the UTP Plan Trade Data Feed coordination with persons engaged in Direct Subscriber Interface Specification, dated sradovich on DSK3GMQ082PROD with NOTICES on the Exchange’s Web site at November 2015, at 7–3, available here: http:// www.nyse.com, at the principal office of www.utpplan.com/DOC/utdfspecification.pdf 5 The Exchange also proposes to amend NYSE the Exchange, and at the Commission’s (together, ‘‘SIP Specifications’’). A trade reported to Arca Equities Rule 7.35(d)(4) to provide that the Public Reference Room. the SIP as a Market Center Closing Trade with a ‘‘6’’ Exchange would ‘‘report’’ an Official Closing Price, sale condition includes volume information, is rather than ‘‘publish’’ an ‘‘Official Closing Price,’’ included in the consolidated last sale, and is because the SIP, and not the Exchange, publishes 1 15 U.S.C. 78s(b)(1). the Official Closing Price. included in the high or low price of a security. The 2 15 U.S.C. 78a. 6 15 U.S.C. 78f(b). Exchange reports to the SIP closing auction trades 3 17 CFR 240.19b–4. of a round lot or more with a ‘‘6’’ sale condition. 7 15 U.S.C. 78f(b)(5). VerDate Sep<11>2014 18:06 Jan 05, 2017 Jkt 241001 PO 00000 Frm 00088 Fmt 4703 Sfmt 4703 E:\FR\FM\06JAN1.SGM 06JAN1


Document Created: 2017-01-06 01:30:36
Document Modified: 2017-01-06 01:30:36
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
DatesThe application was filed on October 18, 2016.
ContactHae-Sung Lee, Attorney-Adviser, at (202) 551-7345 or Chief Counsel's Office at (202) 551-6821; SEC, Division of Investment Management, Chief Counsel's Office, 100 F Street NE., Washington, DC 20549-8010.
FR Citation82 FR 1770 
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